Year End Financial Checklist

As the end of the year approaches it’s a good reminder to take a second to reflect on all the things that have happened this year. It’s also a fantastic time to check some of those financial to-dos off of your list. Today we are going to give you a few items that should definitely make it onto your end of year financial checklist. These year-end topics will cover a number of financial planning issues and while there are certainly a lot of things that could be added to this list, I believe these are the top 10 that apply to everyone.

Increasing Income and the Temptation of Lifestyle Creep

When you get a big raise or a significant promotion, you naturally want to celebrate. This may include treating you and your spouse to dinner out or a vacation you have been talking about for years. It might also mean you are going to increase your spending to coincide with your new income growth. Lifestyle creep is something that impacts people in different stages of life. It is particularly important to recognize and avoid before it affects your financial goals.

BlogAndrew Comstock, CFASeptember 15, 2020lifestyle creep, keeping up with the jones, overspending, debt, lifestyle, increasing income, increased income, raise in income, financial planning, financial advisor, wealth management, personal finance, finances, finance, checking, savings