Good morning and HAPPY 2022!
It’s gonna be a great year. 💪
And to kick it off I want to share this cool Get Ready Financial Calendar from a fellow money expert, Tony Steuer.
What I love about this is that unlike most annual goal lists, this plan is broken down by month, allowing you to focus on improving just one area of your financial life at a time. Kind of cool!
Check it out 👇👇👇
- January: Organize your financial documents. It’s like “spring cleaning” for your finances. This includes gathering tax documents and receipts.
- February: Monitor your financial dashboard (cash flow and net worth statements). This lets you see how you did last year and if you want to make any changes for the new year.
- March: Review your loans and expenses. Determine whether you can reduce your payments and expenses, including refinancing and consolidating debt.
- April: File federal and state tax returns. Check your income tax withholding.
- May: Review your emergency plan. Set up your financial emergency plan by creating a critical emergency action list and a financial first aid kit.
- June: Hold a family financial meeting. Review and communicate financial goals and priorities. Includes all members of your family, including children and parents.
- July: Review beneficiaries and estate planning docs to make sure they are correct. This includes wills, trusts, and advance directives.
- August: Review your personal investment policy statement (investments and allocations), retirement tracker & college contributions.
- September: Review insurance policies. Determine if coverage still meets your needs.
- October: Open enrollment begins for employee benefits. Review healthcare and Medicare.
- November: Identity monitoring. Order and check over your credit reports and consumer reports.
- December: Wrap up loose ends, check for unclaimed money!
**Tony includes a bunch of resources and further detail over at his website here if you want to dig deeper into each area.**
Or, depending on your wealth stage, maybe you want to modify some months and add in tasks that are more important to you?
Other Checklist and Money Goal Ideas
The list above is pretty general – which I think is cool because goal planning means something a lil different to everyone. You can always drill down and make specific goals within each category.
Adding to the above, here are a couple of areas I would probably want to add to my list (maybe some are applicable to you…):
- Assess your job situation: Make sure your job still lines up with your values. Check or negotiate your pay, think about your next career move and start building the skills needed to make an upgrade or change if you want. (Or, if you’re well on your path to FI, consider a lateral move to have a better work/life balance!)
- Continue your financial education: You’ll never regret increasing your financial knowledge, and there’s always something new out there to learn. (One of the areas I haven’t fully wrapped my head around yet is the whole crypto/blockchain crapola. Maybe next year I’ll dig into that!)
- Introduce a friend to FIRE 🔥🔥🔥: Financial independence is one of the world’s best-kept secrets. While you’re out there building wealth and improving your finances, make sure your friends are aware of what’s going on. A rising tide lifts ALL ships.
- Consider your social responsibility: To benefit the most from your community → you need to CONTRIBUTE to your community. (Well, that’s how I view the world. 😊) Rather than thinking about how 2022 is going to serve you the best, it’s interesting to flip the question and think about donating, giving, volunteering, and helping others.
- Review automations and systems: Finances are WAAAAAY easier when they are out of sight/out of mind. Take a look at all the money that comes in and out of your life, and think about ways to automate the flow. (Automatic bill-pay, direct deposits, mobile capabilities, auto-transfers to investment accounts, etc.)
- Review your portfolio “passiveness”: A few years ago I realized some of my assets were stressing me out! In particular, rental properties. So, I made a long-term plan to move all that equity over into simpler investments. Is it worth reviewing all your assets and making sure you’re getting the best possible sleep at night?
What did I miss? What’s on your financial list this year?
Cheers to a kickass 2022!