Financial Year End To Do List

Today’s To Do List Tuesday is all about year-end financial planning and review. I don’t care if you make a little or a lot, everyone should check and plan for the year ahead. I will caveat everything here by saying, I am not a professional financial planner. Even if you think you don’t “qualify” to have a financial planner, I would find one. There are many good financial planners that will offer a free consultation. Here is a partial list of things you should review, consider, plan and act upon:

  • Review taxes for the past year. Do you need to make any last-minute qualifying tax donations? This is the week!
  • Review what you spent last year! This is important for figuring out what is necessary for next year.  Are there things you can cut?
  • Review your home owners or renters insurance. Do you need more or less insurance?
  • Review your health insurance.
  • Review your financial goals from the past year. How did you do? Don’t have any, see the next item.
  • Start your list of financial goals for next year.  If you have any debt, eliminating or reducing that is your number one goal.
  • Check your emergency fund or start one if you don’t have one. Ideally it is 3-6 months of expenses, but something is better than nothing!
  • Do you have your will and other important documents up to date and in a fire safe?
  • Do you have any high value items in a safe or bank safe deposit box?

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