Remember all of those New Year’s goals you made last January? Now that we’re in the home stretch of 2023, it’s time for another check-in—especially if you’re one of the 30% of Americans who resolved to improve their finances.1 If you did a mid-year financial check-in, this is your reminder to check in one last time. And if you forgot what you were working toward, that’s okay too. It’s never too late to reprioritize your finances and refocus on ending the year strong.
What to Include in Your Year-End Financial Checklist
Here’s a year-end financial checklist that will help you finish strong this year:
1. Review your goals.
Dust off those 2023 New Year’s resolutions! Even though the year is almost through, that doesn’t mean you can’t recommit to those goals. If you’ve been keeping them top of mind and working on improving your finances this year, that’s great. Use this check-in to remind yourself of why those goals are important to you, review any unmet goals, and plan to achieve them. As we said earlier, it’s never too late to work on building a stronger financial foundation. If you need a refresh, visit our mid-year financial checklist here.
2. Meet with your financial advisor.
One of the best gifts you can give yourself (and your finances) is a financial advisor. Inviting a well-trained financial professional to help you create and build a solid financial foundation is something you’ll never regret. This person is so valuable because they can look at your finances objectively and help guide your next steps. If you don’t have a financial advisor yet, we’d love to help! Find a SageSpring Wealth Advisor here.
3. Conduct a year-end tax review.
Like it or not, we all have to file taxes each year. And in order to make sure you’re not being overtaxed (or undertaxed), a quarterly tax review is key. Check-in with your financial advisor or accountant to make sure you’re on track. If you own your own business, you’ll want to make sure you’re putting aside enough
4. Plan to be generous.
In his book The Legacy Journey, Dave Ramsey writes: “Giving is the antidote for selfishness.” When you choose to be generous, you’re not only impacting the recipient . . . you’re impacting yourself. One of the most beautiful things about money is the impact it can have in someone else’s life when you give it away. If you want to include generosity in your financial plan this year, Giving Tuesday is a great time to start. Mark your calendar for Tuesday, November 28, and plan to give to your favorite charity or nonprofit. Your giving can make a huge impact on the lives of others this year.
Finishing Well in 2023
Ending the year strong financially isn’t just about checking the boxes on your to-do list. It’s about taking a series of small steps that can have a major impact on your finances for years to come.
If you started investing this year, that decision can help you reach your retirement dreams. If you decided to pay off debt this year, that achievement will impact every area of your life . . . and having more freedom in your budget is just one benefit. No matter what your goals look like, we can help. Our financial advisors would love to walk with you as you finish well this year.
