End of the Year Money Management Moves You Should Be Making

It's the last quarter of the year, and a great time to do a financial review to be sure your finances are in order. Here are a few money management moves you should consider to end 2024 on a good note and begin the new year with positive momentum.  

• Check the interest rate on your savings and be sure you are getting a competitive rate.

• Move excess savings to a CD and lock in a good interest rate before rates decrease any further.

• Pay off small loans and credit cards with low balances.

• Organize your financial documents.

• Set a holiday spending limit.

• Make your Black Friday, Cyber Monday, and Prime Day lists beforehand.

• Budget

• Do a year-end review of your investments, insurances, and bills.

• Schedule an appointment with your 401K's Plan Administrator to see if your investments are on track to reach your goals.

• Max out your 401K.

• Use up your Flexible Spending Account

I think everyone agrees, once Halloween is over, the year seems to move pretty quickly. To help you avoid feeling overwhelmed and unorganized as you head into 2025, make a plan now to accomplish the financial tasks above that apply to you. By getting a head start, you can relax and enjoy the holidays. 

Lana