Financial Checklist for the New Year

Client Centered

Creating a month-to-month financial checklist for 2024 can help you stay organized and focused on your financial goals throughout the year. Below is a suggested outline to guide you through the key tasks and priorities for each month:



  1. Review and Update Budget

   - Assess your income, expenses, and savings goals.

   - Make adjustments based on any changes in your financial situation.

  1. Set Financial Goals

   - Outline specific and achievable financial goals for the year.

  1. Emergency Fund Checkup

   - Confirm the status of your emergency fund.

   - Set a monthly savings goal to build or maintain the fund.



  1. Debt Repayment Strategy

   - Develop or reassess your debt repayment plan.

   - Consider allocating extra funds toward high-interest debts.

  1. Investment Portfolio Review

   - Evaluate the performance of your investment portfolio.

   - Rebalance if necessary or consult with a financial advisor.



  1. Retirement Planning

   - Assess your retirement savings.

   - Maximize contributions to retirement accounts.

  1. Insurance Coverage

   - Review insurance policies for adequacy.

   - Shop around for better rates if needed.



  1. Tax Planning

   - Stay informed about tax law changes.

   - Maximize tax deductions and contributions. 

  1. Estate Planning

   - Update estate planning documents.

   - Ensure beneficiary designations are current.



  1. Educational and Career Development

   - Invest in skills or certifications for career growth.

   - Explore opportunities for professional development.

  1. Review Subscription Services

   - Assess and eliminate unnecessary subscriptions.



  1. Financial Education

   - Attend financial workshops or webinars.

   - Read reputable financial literature for ongoing education.

  1. Mid-Year Budget Check

   - Conduct a mid-year review of your budget.

   - Make any necessary adjustments.



  1. Emergency Fund Checkup

   - Reassess emergency fund goals.

   - Make adjustments based on changing circumstances. 

  1. Debt Repayment Progress

   - Evaluate progress on debt repayment.

   - Celebrate milestones and adjust the plan if needed.



  1. Investment Portfolio Review

   - Monitor investment performance.

   - Consider diversification strategies. 

  1. Retirement Planning

   - Check retirement account contributions.

   - Adjust if there's room for additional savings.



  1. Insurance Coverage

   - Review and update insurance policies.

   - Consider any life changes that may impact coverage needs.

  1. Tax Planning

   - Begin organizing tax-related documents.

   - Plan for year-end tax strategies.



  1. Estate Planning

   - Confirm the validity of estate planning documents.

   - Discuss plans with family members if necessary.

  1. Financial Goal Review

   - Assess progress toward annual financial goals.

   - Make adjustments as needed.



  1. Thanksgiving Financial Reflection

   - Take time to reflect on your financial journey.

   - Express gratitude for financial achievements. 

  1. Holiday Budgeting

   - Plan for holiday expenses within your budget.



  1. Year-End Financial Review

   - Conduct a comprehensive year-end review.

   - Evaluate achievements and areas for improvement.

  1. New Year Financial Resolutions

   - Set financial goals for the upcoming year.

   - Prepare for a fresh start in the new year.


By following this month-to-month financial checklist, you can stay on top of your financial responsibilities, make informed decisions, and work toward achieving your financial objectives in 2024. Adjust the checklist based on your specific circumstances and priorities.