Odd Cents - Odd Year End_ Financial Housekeeping Link Roundup – 10_24 - Foodica

Odd Year End: Financial Housekeeping Link Roundup – 10/24

It’s almost the end of the year and that means it’s time for some financial housekeeping. You should be in the habit of assessing how the year went, whether or not your personal finance tactics were successful, and if you met the goals you had set for yourself. It will also allow you to create goals and plans for next year. This is an annual exercise but you can definitely create your own plan to suit your needs.

I usually conduct my housekeeping on a monthly basis, but it’s quite limited. I just review my budget and compare it to my spending habits. Sometimes I might look at the goals that I’ve set and check to see if I’m on track to meet them. This is something that I want to change in the new year. I’m thinking of a quarterly assessment where I engage in deep analysis and amend my goals where necessary.

These links highlight the importance of financial planning. Check out some of the best personal finance housekeeping stories, bits of information, or pieces of inspiration found during this week’s Personal Finance Link Roundup: Odd Year End.

1. Important Money Moves Before Year End

Financial housekeeping describes the process that you use to assess your financial health before the end of the year. Broadly speaking, you should look at your taxes, planning and protection. Take a look at these Important Money Moves Before Year End.

2. Get on Top of Your Financial Housekeeping

One way to keep on top of your finances is to look at the major categories in spending. This means you have to look at your largest expenses such as utilities, the food bill and loans and mortgages. If you want to really Get on Top of Your Financial Housekeeping, then you have to put in the work now.

3. Sure Tips for Improving Your Financial Situation

Financial housekeeping is not only for us as individuals. It can be applied to our small business and entrepreneurial endeavours. Many small businesses struggle with money and sometimes the major cause is poor cash flow management. Here are some Sure Tips for Improving Your Financial Situation in your business.

4. Financial Fine-Tuning You Must do Before Year’s End

I don’t like to wait until the very last minute to do anything. I always think that something will go wrong and then it will be too late to fix it. You may be tempted into thinking that you still have a few more months until year end there is no need to rush. Don’t get lazy. Get active and consider the Financial Fine-Tuning You Must Do Before Year’s End.

5. Managing Personal Finances: Your Annual Self-Check

When it comes to your financial situation, you have more power than you think. This is especially true when you create an actionable financial plan. Your actions will impact your ability to reach your financial goals. For those struggling with being financially responsible, Managing Personal Finances: Your Annual Self-Check is an excellent place to start.

6. How to Give Yourself a Financial Checkup

For as long as I can remember, it was always a necessity to get an annual medical checkup. A checkup ensures that your body is functioning exactly as it should and identifies any potential problems that should be addressed. Our finances require the same amount of attention, but we don’t always need a specialist. Here’s How to Give Yourself a Financial Checkup.

7. How Healthy Are Your Finances

Suppose I told you that you can check your finances right now without any hassle and for free. As I was writing this list, I came across this tool and I decided to give it a try. The retirement savings section of the tool confirmed what I already knew- I’m not contributing enough to my retirement saving. Check out the How Healthy Are Your Finances tool and assess your financial health.

8. Stay On Game

Do you make personal finance goals? If not, then you could be torturing yourself and your finances more than you think. One of my financial goals for this year was to save at least 10% of my salary each month. So far (as at October 2016) and so good. Now that it’s the last quarter of the year, I’m going to start creating goals for next year. Get down to the financial planning basics, Stay on Game and work on those financial goals.

9. Refinance These 4 Common Debts Before Year Ends

One concept that I don’t know too much about is refinancing loans. I’ve never had to refinance a loan. But I’ve read that refinancing debt is an opportunity to get better interest rates or consolidate debts into one loan with the gamble of an extended payback period. If you’re in a deep financial rut, it may beneficial for you to Refinance These 4 Common Debts Before Year End.

10. 7 Financial Moves to Make Before the End of the Year

The count down is on and the new year is fast approaching. It literally feels as though I was just looking forward to drinking a glass of Moscato to ring in the new year. I’m convinced that I need to make the most of what’s left in the year and get in some last minute financial management. Take stock now with these 7 Financial Moves to Make Before the End of the Year.

If you have any other personal finance links about financial housekeeping you’d like to share, link to them in the comments below.

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