Financial Wellness Planning 2022

Before we know it, this year will be over, and 2022 will be here. Along with a New Year comes fresh goals, hopes, dreams, and resolutions! Budgets and personal financial goals are important to review on an ongoing basis, but it is also good to look at those things as a whole on a yearly basis if you anticipate changes and to check your progress. Do you have a new yearly expense? Are you anticipating a large raise this year? Will you be able to direct more funds to debts? Did you meet a short-term goal, so that now you can add a new one or direct those funds to a long- term goal? Did you get married, divorced, or have a child? Gas and Grocery prices are rising, so do you need to change your budget amounts for these items? Employer benefit changes also occur this time of year, so there could be increases to the deductions from your paycheck to account for.

Here are some other important tasks to review as the year ends:

Beneficiary Designations

Flexible Spending Accounts

Credit Report (www.annualcreditreport.com)

Subscriptions and Memberships

Auto, Home and Life Insurance Policies

Estate Plans

Making an annual financial review part of your year- end traditions will set you up for success in the coming year.