I can’t find this posted anywhere, so…
Does anyone do a year end financial review? If so, what’s included? How do you go about it?
I’ve been watching YouTube videos with mixed success. Also doing a deep dive into last year’s finances, and working on a proposed budget for my personal allowance for this year.
One YouTube video had you ask 5 questions about the state of your finances:
- what was your debt going into 2022 vs going out of it?
- Did you increase your income any?
- What was the best investment (not necessarily money) decision you made?
- What were the poor financial decisions you made?
- On a scale of 1-10, how do you rate your financial situation?
I also did a revised Net Worth statement and compared it to the beginning of 2022.
Plus I did a deep dive into what percentage of our budget is spent on each category.
And a deep dive into our grocery receipts, trying to figure out where we’re spending the most money and if that’s where we want to spend it. And percentages there too.
I ran through my personal budget with a fine tooth comb. I analyzed all the subscriptions and memberships, figuring out where to cut back.
I told Hubby the Year End Review and December Monthly Budget Meeting will be a two hitter tomorrow…and to expect it to be a long meeting. I think he’s a bit intrigued by what I’m up to. But we’ll see. I’m asking him to come to the meeting with ideas, but he’s done no homework that I know of. It could be…interesting.
So how do you all handle year end financial reviews?