Once again the year is quickly running out, which means it is time to sit down, analyze, and evaluate how good you stand financially going into the New Year. We have probably spent the whole year taking care of our various financial issues without keeping track or a good record of how much we have let go, therefore there is no better time than now to start planning for a financially strong start to next year. Getting your finances sorted early and in order is actually underrated as it brings about peace of mind, reduction in stress, a much-needed confidence booster going into the year, a better lifestyle, and a more financially secure future.

The first step in getting your finances in good shape to round off the year is taking an extensive look at where you stand at the moment financially, where you think you can go realistically, and where you desire to be after a certain period of time. The easiest method I would advise for this would be to have a look at your credit card and bank statements over a reasonable period of time this year. This would help you have a good idea of how much you have been spending (maybe each month) on different types of expenses, investments and earnings you have made in that period, and even savings. The information gathered could prove really useful when you are planning on how to stay financially afloat for the end of the year and beginning of the New Year.

Below are the 4 key tips you should follow to ensure you end the year in the right financial state;

Save Diligently

If you would like to finish the year on a high financially, it is quite compulsory you start saving your money diligently to support your life goals, events and emergencies. Emergency expenses can always come up at any time and it is important to always be prepared. Having enough money in your savings can help you take care of any emergency expenditure without affecting your current financial situation significantly.

Set Financial Goals

The importance of setting realistic financial goals can simply not be over-emphasized. Having a good financial plan on ground helps keep you in check while spending. Financial goals can mean having a particular spending limit each month, or having a certain figure which you would want to be in your bank account after a designated period of time. Either way, it helps curbing irrelevant and extravagant spending.

Plan Properly and Work with a Budget

The tail end of the year usually comes with a lot of expenditure due to the the festive periods, therefore it is very important to work with a budget. Setting and successfully maintaining a budget is one of the healthiest financial practices, and it is still surprising how people find it difficult to pull this off. Working with a budget aids in strengthening your financial goals as it helps you cut down or limit how you spend your money, while helping you prioritize expenses automatically. Keeping up with this behavior would also help in instilling financial discipline for future purposes.

Minimizing Debts

Managing to get rid of any outstanding debts you may have effectively could prove to be key and working efficiently. This brings about financial security as every income you are making goes directly into your pockets, and not to the pockets of someone you might be indebted to.


Here is a summary and some more tangible advice I can give if you are trying to make sure you end the year with the right finances;

  • Make sure you invest in yourself properly, as there is no better way of generating wealth than adding good value to yourself. This means you should always be open to learning more and indulging in schemes which can take your finances up.

  • Plan properly and set specific financial goals. Using numbers, set targets of how much you would like to earn, how much you would want to spend, how much debt you would like to pay off, and so on.  This keeps you in check all the time.

  • Learn how to cut down on frivolous and unnecessary spending. This can be achieved by making a list of your expenses in order of priority to help keep you on the right track.

  • Surround yourself with people who have similar financial goals as you do. If your friends are lavish spenders, it would only take a matter of time before it rubs off on you.

  • Always shop smart.

And once again, make sure you draft a realistic budget for your finances going forward.