With the end of the year JUST around the corner, it’s easy to relax your way through the end of the year. Just slide into a glitter skirt, pull on those tights you never wash, and sip champagne until the clock strikes 12.
I wouldn’t blame you for that, but before you get toasted off the bubbly, take 30-40 minutes to reflect on your year. A quick year end reflection is a powerful money move, and a way to set yourself up for success in the new year.
And don’t worry, because ya girl has outlined exactly what you need to do to keep these end of year money moves short, impactful, and get you to the bubbles ASAP.
Review Your Spending Throughout the Year
This is my favorite activity, which means it makes most people want to die. But it’s HUGELY HELPFUL and can be fun!
If you budget, pull that bad boy out and take a look at where all your money went this year. (If you don’t have a budget, we have an 8 chapter budget workbook that includes 2 spreadsheets that has your name all over it!)
Add up your monthly totals in each area of spending. Groceries, travel, clothing, pets, healthcare…get an annual number for each.
And then do an emotional check in. How do you feel about each number? Does a certain category seem high, and is there a reason for that? (If you had a medical emergency, maybe healthcare or parking is super high.)
Understanding your numbers and the WHY behind them gives you a lot of power moving forward.
If you notice that rideshare are a huge chunk of your annual spending and you’re also paying for a car, this might be a time to implement change. Do you just want to go 100% rideshare and sell your car? Do you need to delete Lyft off your phone?
These are the types of decisions that looking at the numbers helps you make. An annual review might make you queasy at first, but it’s one of the most powerful end of the year money moves.
Identify Your Biggest WIN
What went super, duper well this year? What did you crush when it came to your money?
Maybe you paid off some debt, bought a house, or earned more. Let me just say: HELL YEAH!
I believe in celebrating the small and the big stuff. Money is not just stress and bad feelings. Money is joy and power. Money is the tool that helps us do the good things, the happy things, the fun things.
So pick out a few of the things you’re most proud of and celebrate them! And ask yourself; do I want to do more of this next year? How can I get more of this into my life if so?
Identify Your Biggest Area of Stress
Most Americans feel financial stress. Financial stress has become as American as apple pie baby.
More on Financial Anxiety Here
As sad as that is, I find it helpful to identify the parts of your money that stress you TF out, so that you can change that.
If your low income is your number one stressor, you can set a goal to make more money in the new year. It can mean anything from negotiating a raise, starting your own side business, or getting creative with side hustles.
But the key is, by understanding the problem, you can work to find the solution.
So meditate on what’s bringing you down, and come up with a solution to it. From there, break the solution down into concrete steps you can take, one at a time, to feel better.
And that’s it! Your end of the year money moves are asked, your review is done. Get this person some champagne already!