Year End To Do and Review List

What To Take a Look At Before Saying Goodbye to 2022

Year End To Do and Review List, yes it’s nearly that time again – the end of one year, the start of a new one, and all of the looking back, and looking forwards, that comes along with it.

The end of the year usually comes with a lot of round-ups, lists, and reviews of the past 12 months. But this year, while you are reading that article about the most viewed Netflix shows this year, or checking your Spotify Year in Review, why not start a year-end review that really matters, one that relates to all the important stuff in your life that is ideally revisited at year’s end?

Doing so will help you take stock of how 2022 really went for you, while also making some changes that can help 2023 shape up to be an even better year. What should be included in this personal year-end review? That’s what we are going to take a closer look at here.

Year End To Do and Review List

Review Your Budget

By reviewing your budget at the end of the year, you can better control your spending, boost your savings, and move closer to your long-term financial objectives. It’s a crucial facet of personal finance and an essential part of effective money management.

Consider this: How would you know if you were veering away from your financial goals if you only created a budget once and never looked at it again? How would you identify places where your spending could be improved?

You can enhance your future financial decisions by taking the time to reflect on the past and evaluate your budget. This will enable you to see beyond your current circumstances to improve your 2023 financial decisions.

When reviewing your budget, be honest and realistic with yourself. The chances are good that you did some things really well, and if that’s the case, those things should stay in place. However, even the best of us slip up and spend in ways that bust our budgets that we need to be realistic about.

For example, maybe some months you spent a little too much on food. Others, perhaps you mistakenly budgeted less than you should have for a specific category. There are a number of things that can go wrong in between budget reviews, and now is the time to uncover them so that going forward you can put them right.

Year End To Do and Review List

Review Your Investments

Staying on the topic of finances, your budget should include that all-important allocation for savings, and to make the most of that cash you should have a formal saving and investment plan in place.

If you don’t, now is the time to make one (with the help of a financial advisor if you are not sure about the best way to go about investing) but if you do the end of the year is the perfect time to review that plan and see what is and isn’t working, and what has changed over the past 12 months that may have affected the potential returns on your current investment strategy.

2022 has been a rocky, strange year for global finance, and some of the investment decisions you made that were smart ones at the beginning of this year may no longer be the best way to invest and build wealth. Or, if you have increased your income this year it may be time to add to your investment plans to make the most of that extra cash. Even the best investment strategies are never static, so making an appointment with a financial advisor now to review yours is a great year-end idea.

Year End To Do and Review List

The State of Your Home

Speaking of investments, for many of us our homes are one of the largest investments we have ever made, and certainly one that needs to be protected to help protect its value. As we are all so busy it’s easy to fall behind on little home repairs, but little problems can turn into big headaches faster than you think.

That dripping tap you have been meaning to fix? It might be more than just a midnight annoyance, it might be the start of far more serious plumbing problems to come (not to mention a huge waste of water.) And that odd knocking sound your air conditioner or heat pump makes may be a sign that something is about to go very wrong, even if things seem to be working well enough right now.

The end of the year is a great time to take a walk around your home and check everything, to call in the professionals for annual checkups (especially for HVAC), and to generally ensure that you are doing all you can to protect the investment you have made in your home.

Year End To Do and Review List

Review Your Insurance Coverage

Insurance of any kind is rarely something any of us like paying for, and so simply writing the checks and thinking about them as little as possible is how most of us approach them. But by paying a little more attention to them at year-end you may discover ways you can save money, add additional coverage that changed circumstances may now call for, or drop the coverage you no longer need.

When going over the obvious coverages – home insurance, car insurance, etc. – don’t forget about your medical aid and gap cover policies. The end of the year is a great time to review these as well, and the best possible time to make any changes that will help ensure that you are getting the best possible coverage according to your needs.

Year End To Do and Review List

Review Your Self-Care Strategy

Finally, all of the financial stuff is very important, but as we just mentioned the all-important topic of health, the end of the year is also a great time to take stock of just how well you have been treating yourself in 2022, and what you can do in 2023 to be at least a little happier, healthier and heck, have a bit more fun.

Even though it’s easy to overlook, self-care is seriously important. You don’t need to plan big changes for the new year – maybe that world cruise is still a few years off – but even simple things like planning to schedule a little more fun family time, or a plan to take an hour to yourself in the evening after a busy day to read a book or watch a favorite film can make a huge positive difference, and by writing these intentions down, you are far more likely to make them a reality in 2023.  

Should you want more specialist advice do not hesitate to talk to one of our consultants today.