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Year-End Planning

Year-End Planning

October 08, 2021

The last quarter of the year goes by quickly. The kids are back to school, pumpkin flavored drinks and apple picking season is in full swing and boom, all of the sudden we are ringing in the New Year. While we are still in the beginning of fall before the even busier season of Thanksgiving, Hanukkah, and Christmas, it is a good idea to organize your projects that may have been put aside over the summer. Little changes now can give you peace of mind heading into the New Year.

  1. Organize Your Home

This may be easier said than done if you have lived in your home for many years or have kids with toys scattered throughout the house. However, start small to avoid becoming overwhelmed. Pick a weeknight to organize your kitchen junk drawer, spend a half hour on a Saturday morning cleaning out your refrigerator, treat the kids to ice cream if they pick up their toys, etc. Once you build momentum, you may not want to stop organizing!

  1. Donate Unwanted Items

While you organize your home, you will likely find clothing, books, toys, and non-perishable food that you no longer want or need. Research local donation drives in your community if you would like to donate to those in need. If you do not have any items to donate, you may consider a monetary donation to a charity. You may even receive a tax deduction by doing so!

  1. Cut Recurring Expenses

When was the last time you listened to an audiobook? Are you still using every video streaming service? Do you have an excessive supply of cleaning products because you have a recurring delivery? Look through your bank account/credit card statements and see if there are any recurring expenses for a service that you no longer use. This can save you hundreds of dollars over time.

  1. Review Your Insurance

Look at your life, disability, health, auto, homeowners, umbrella and any other insurance you have. Sometimes we purchase an insurance policy and forget the coverage amounts, beneficiaries, or other policy features. Do you have any unique collectibles, hobbies, or interests?  Consider protecting their value with a personal articles policy.  As your income, family size, goals, and lifestyle changes, your insurance needs may change. By keeping your insurance up-to-date, you are preparing yourself for when you may need it.

  1. Plan Ahead for the Rest of the Year

If you have a favorite winter activity or a holiday family tradition, set a date for it early to ensure that it can be done. It is easy to get caught up in the day-to-day tasks which may prevent us from spending quality time with family and friends. Setting a date in October to go to a winter market in December increases the likelihood of being able to go.

As Nelson Mandela once said, “it always seems impossible until it’s done.” Take the leap today to prepare yourself and your family for the coming year!


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