Your Year-End Financial Checklist

As the year ends, a certain fat man isn’t the only one who should be making a list and checking it twice. With the holidays taking up most of our attention, sometimes we forget to take stock of some other aspects of our lives. Foremost, we let our finances fall by the wayside. That’s why this year, we’re encouraging you to examine your finances and use this handy checklist to make sure you’re ready to ring in the new year on financially stable ground.

  • Review your financial plan

How much money did you spend this year? What did you spend it on? Now, we’re not saying you must catalog each purchase, but it is a good idea to know how much you spent on large purchases or reoccurring purchases. Did you spend approximately $100 on groceries each week? That’s something to take note of. Did you make a large purchase like replacing an appliance or upgrading your home? While you might not make the same purchase next year, it is good to know if you will be making payments on said purchase. Now is also the time to make sure your emergency account has the money in it to cover you in case an emergency should arise. The key to success? Be honest with yourself. If you need assistance in tracking your spending, check out Geezeo. You can find it on our online banking (coming to the app soon), or if you need help making a financial plan for the next year, one of our team members at Minnequa Works will be more than happy to help.

  • Get a head start on your taxes

Yes, we know Tax Day is still months away, but it never hurts to be prepared. You can look at your current situation to know whether you need to save some money for taxes or if you think you might be getting a refund. We offer a Secondary Savings Account that can be used for any purpose, including saving for tax season. Now is also a good time to look at how much you are withholding from your paycheck. Do you need to alter it?

  • Review your credit/debt

This can go together with the first item on the list. Look at your credit card debt and any other debt you may have. How are you doing at paying it off? How do you plan to continue paying it off in the coming year? Once again, be honest with yourself. If you need help with debt or want to discuss your credit, don’t hesitate to contact us.

  • Review your insurance needs

Did you get a new car this year? Did you have a child? These and many other things can cause you to need to update your insurance. From needing new auto insurance, to life insurance policies, now is the perfect time to review your current policies and to consider where you may be lacking the proper coverage.

  • Donate to charity

The holidays are surely a time to give. That’s why the end of the year is a great time to make charitable donations. Not only are you doing a good deed, but they can also be tax deductible.

  • Start planning for the future

You’re already looking ahead but, look even further. Are there purchases you’ll need to make in the coming year? Do you want to get married? Go on a dream vacation? Buy a house? All these things and more require substantial financial planning. As we’ve said before, you can never be too prepared, and if you need assistance in getting your credit ready for your next loan, Minnequa Works is here to help!

By looking at your financial future in the present, you won’t relive the mistakes of your past. Once you’ve gone through the items on our checklist, you’ll be more prepared to take on what the new year brings. This is by no means an exhaustive list, but if you need more advice or counseling, we here at Minnequa Works Advantage are happy to help.




You are now leaving Minnequa Works Credit Union

Minnequa Works Credit Union provides links to web sites of other organizations in order to provide visitors with certain information. A link does not constitute an endorsement of content, viewpoint, policies, products or services of that web site. Once you link to another web site not maintained by Minnequa Works Credit Union, you are subject to the terms and conditions of that web site, including but not limited to its privacy policy.

You will be redirected to

Click the link above to continue or CANCEL