WWR Article Summary (tl;dr) As Liz Hund reports, “there are some key money moves you can make to finish the year strong and set yourself up for success in 2022.”
As 2021 comes to a close, there are some key money moves you can make to finish the year strong and set yourself up for success in 2022.
Bankrate Chief Financial Analyst Greg McBride, CFA, compiled his list of 15 financial tasks to complete before 2021 comes to a close.
1. Make a budget and review your spending
The past couple of years have been full of change with many people working remotely and many facing unemployment. With all of this change, there’s a good chance your spending habits have changed as well, which means it’s time to evaluate where your money is going.
“Do you track your spending against a budget? If so, how did you do this year?” McBride asks. “Make a monthly budget for 2022 and resolve to track your spending against it throughout the year. Any month you spend less than budgeted, transfer the difference into savings.”
2. Check your progress on paying down debt
“How much debt do you have relative to the beginning of the year? Congratulations if you’ve made steady progress on paying it down, and if you’ve gone in the other direction, make a game plan to pay down debt over the next year.” McBride says.