Tips for Getting Financially Organized in the New Year | St. Johns Bank

Getting financially organized is always a good goal, but for most Americans, the start of a new year is a common time to do it. Whether you are planning to set full resolutions for your upcoming year, or you would simply like to get more financially organized in general, having a few goals in mind is a great start!

While financial organization goals can be different for every person, there are some general rules that can benefit nearly anyone looking to get their money more in order. If you have been thinking more about your financial organization, let these tips below help you get started.

Financial Organization Tips for a New Year

Audit last year’s spending. The end of a year is a great time to do a general check in with your budget and overall spending habits. Take a look at the year in review, including your bank statements, credit card bills and loan repayments—this should give you a good idea of your overall spending for the year. While life events and extraneous circumstances may have changed in the past 12 months, doing an audit of your spending across the entire year can be a great way to put your goals and savings targets into better perspective.

Make sure you are prepared for life’s mishaps. Unfortunately, unexpected things are always going to happen—whether it is job loss, a life event or illness, or other sudden expense, making sure you are prepared can be a great way to gain further peace of mind. Starting or growing an emergency fund, looking at your life insurance options and making sure you have adequate insurance for cars and property can set you up to handle any mishaps in the upcoming year.

Make sure your estate is protected. If you have not yet looked into drafting a will or estate plan, now is a fantastic time to do so. If you have, it is still a great idea to review your documentation and make updates as needed. While these things may feel unpleasant to consider, they can set your loved ones up with financial security and peace of mind should something happen unexpectedly.

If you have questions about how our banking services can help you get organized in 2022 and beyond, we would love to help. Contact us today to learn more.