Smart Financial Questions to Ask Before the Year Ends

 

The final stretch of the year has a way of sneaking up on you. Between the holidays and a long to-do list, it’s easy to coast right into January, but aa few minutes with the right questions can set up a calmer start to the new year. No spreadsheet required.

Looking Back

• Which savings goals did I set last January, and how close did I get?
• Where did my money actually go this year, and does it match what matters to me?
• What surprises caught me off guard, like a repair, a medical bill, or an unplanned trip?

If a goal fell short, consider what got in the way instead of what went wrong. The answer usually points to an easy fix.

Checking Your Cushions

• If my paycheck paused for a month, would I have enough set aside?
• Are there balances I could pay down sooner, like a credit card?
• Do the rates and terms on my loans still suit my situation?

You don’t need a perfect answer to each one. Knowing where you stand is the point.

Planning Ahead

• What are my top two or three goals for next year?
• Do I have automatic transfers set up so saving happens without a reminder?
• Are there big expenses on the horizon, like a vehicle, a home project, or tuition, and how will I cover them?
• Are the beneficiaries on my accounts still current?

Tidying Up

• Are my contact details and account alerts up to date?
• Which subscriptions or accounts have I stopped using?
• Do I know who to call if something looks suspicious?
• Have I gathered the paperwork I’ll need when tax season arrives?

Put It on Paper

Jot down your answers, even in rough form, and tuck them somewhere you’ll see them in January. Revisiting that list a few weeks into the new year is a simple way to turn good intentions into real habits.

At Farmers & Merchants Bank, we’re always glad to talk through any of these questions with you, whether that means reviewing your accounts or simply thinking out loud about what’s next. Stop by any branch or reach out to our team to set up a conversation.