End-Of-Year Money Moves

Dec 26, 2023 Holidays, Personal Finances

Are you ready for the new year? Set yourself up for success by taking these steps.

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The end of the year is here, and it’ll be well into 2024 before you know it. Get a head start by reviewing where your finances are now and thinking about what you want to accomplish in the new year.

Here are some steps you can take before December 31 to get financially organized – not to mention save and invest more wisely.

Money Moves To Make

Set Goals With A Plan

Get ready for a new year with a fresh start and new financial goals! The key to setting goals is keeping them realistic and specific. For example, if one of your goals is to pay down debt, you’ll create a plan that states exactly how much money you want to contribute to each of your debts every month.

Make A Plan For Bonuses

Are you expecting a bonus at the beginning of the year, or a few throughout the year? Make a plan to give that extra income purpose, whether that’s contributing to your vacation fund, rainy day reserves, or investment accounts.

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Life Guidance for:


Ready to take control of your finances? See what steps to follow to develop a spending and saving plan and follow through on it.

Check Your Credit

Did you know you can obtain a free copy of your credit report annually from each of the three credit bureaus: Equifax®, Experian™, and TransUnion®? Visit annualcreditreport.com to request your report, review, and dispute any errors if needed. If you plan to borrow for a big purchase in 2024, checking your credit report now will help you understand if you’re in good standing or need to work on improving your credit.

Use FSA Funds

If you have a Flexible Savings Account (FSA) offered by your employer, be sure you use the funds for any qualified medical expenses before the end of the year to avoid forfeiting them. If needed, talk with your employer to see if you have a rollover feature or an extended grace period to use the funds.

Open A Retirement Account

Now’s the time to open a tax-advantaged account to start saving for your future. Contribute up to this year’s contribution limit before New Year’s Day to reduce your taxable income for 2023. Reap the benefits now as well as in the future with these savings.

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Saving For Retirement

Saving for retirement can be daunting, especially early on. Dive into our resources to better understand your options and take full advantage of your best retirement saving asset – time.

Max Out Contributions

If you’re already contributing to a retirement fund, now’s the time to max out your contributions – or as much as you can save. Even if you make contributions every month, it may not be the max amount and the more you contribute, the better.

The same goes for Health Savings Accounts (HSAs). Contributions to your HSA have a triple tax advantage. Accounts are funded with pre-tax dollars that aren’t subject to federal income taxes, have tax-free growth, and offer tax-free withdrawals for qualified medical expenses.

Plan For Next Year

Conduct a year-end financial review to better understand your financial situation, and use the information to set goals and create a spending and saving plan. Doing so can help you determine contributions to saving, investing, and other accounts in advance. It’s best to automate contributions so you can make progress on goals with minimal effort.


Bottom line, it’s important to take the time to kickstart your financial goals. Use the guidance above to set yourself up for success – whether that’s managing debt or contributing to your future retirement.

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Reach Your Goals


Take advantage of free financial education from our partner, BALANCE. From confidential coaching to videos and articles, get the resources you need to help with your fiscal matters.

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