Year-End Money Check-in: 5 Reflections to Improve Financial Planning

Year-End Money Check-in: 5 Reflections to Improve Financial Planning

As the year draws to a close, our minds drift to the holidays, time off, and New Year’s intentions. But December is also prime for end-of-year financial check-ins.

Rather than passive resolutions, proactively reflect on what worked, what didn’t, and how to evolve your money plans for the next 365 days. 

Ask yourself:‍

1. Did I overspend in any areas?

Scan 2023 spending trends and spot where your budget busted. Whether dining out, shopping splurges or exploding gas costs, identifying problem zones informs plans.

2.What unexpected money challenges cropped up?

Curveballs like job changes, moves, medical bills or home repairs often foiled budgets. Avoid surprise reactions in 2024 through proactive contingency funds.

3. How have my priorities or goals shifted this past year?

Rebooking a dream trip postponed by COVID? Want to become debt-free by 2025? Life happens fast – realign finances to support new goals accordingly.‍

4. Where can I automate and simplify money management next year?

Minimize mental bandwidth through autopay bills, automated savings and investments, digitized taxes. Declutter your brain, not just your filing cabinet.‍

5. Why does my money matter to me?

Reconnecting to your motivations – retirement freedom, philanthropy, family stability, travel – keeps you charging towards purpose, not just arbitrary budgets.

Reflection breeds insight and intentionality. Measure financial wins and losses without shame to forge clarity for next year. The time is now – learn from 2023 as you ready your money for 2024.

Want something more in-depth? Check out our end of year financial reflections guide here.