12 Days of Christmas: 12 Tips for Financial Success

Here are 12 actionable tips for improving your financial health this Christmas season, and beyond. We’re counting down the days until Christmas, a time for family, giving, and so much more. But don’t neglect looking into these things so you can be prepared for the year ahead.  

1. Build a retirement plan: Retirement may feel far off, but planning for it now is one of the smartest financial moves you can make. Start by estimating how much you’ll need to maintain your lifestyle and achieve your retirement dreams. Meet with a 210 Financial advisor to get started!   
2. Create a holiday budget: Set a budget for your holiday spending, including gifts, travel, and decorations. Sticking to a budget helps you avoid debt and start the new year without a financial hangover.  
3. Prepare for major expenses: If you know you’ll have big expenses in the coming year, such as a wedding, home renovation, or vacation, start saving now so you’re well-prepared when the time comes.  
4. Review your financial goals with an advisor: Reflect on the progress you’ve made toward your financial goals. Then work on adjusting your goals if needed and set clear targets for the year ahead.  
5. Plan for charitable giving: Tis the season of giving so ensure that you are looking into charitable giving and what your tax-advantages could be, charitable donations can bring both personal satisfaction and tax advantages. Review the benefits of donating cash, assets, or appreciated stocks before December 31.  
6. Set up a year-end tax review: Schedule time with a financial advisor to review your tax situation. Look for opportunities to harvest losses or defer income to minimize your tax bill.  
7. Continue learning: Start by getting guides, reading a book, or keeping up with the Your Retirement Blueprint: A 210 Financial Podcast.   
8. Plan to take care of your health: Have you ever heard that health is wealth? Well, taking care of your health helps your finances and vice versa. So, plan to make healthier choices in the new year or gift it to yourself for Christmas.  
9. Organize and declutter your finances: Take time to organize financial documents, unsubscribe from unnecessary subscriptions, and cut back on services you no longer need. Simplifying your finances can make next year easier to manage.  
10. Evaluate your insurance coverage: Review your insurance policies (health, auto, life, etc.) to confirm they meet your needs and to make any necessary updates.  
11. Create an emergency fund: Know or plan to have an emergency fund in place if something happens. Ensure you have at least 3-6 months of living expenses saved in case of unexpected expenses or emergencies.   
12. Plan your financial goals for the next year: Look beyond the immediate New Year and set financial milestones for the next few years. Early planning can help you stay on track for goals like homeownership, education funds, or early retirement.  

At 210 Financial, we’re here to help you with every step of your financial journey. Reach out to schedule a complimentary 210 Financial Blueprint Review to start planning for 2025. Let’s work together to make your financial dreams a reality in the New Year and beyond! 

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