We Coloradans know that when the aspens begin to change, fall has officially arrived. Soon after comes winter; we’ll eat our way through the holidays, and before we know it, we’re in a brand spankin’ new year. The change of seasons upon us could be just the dose of inspiration you need to re-visit the financial goals you set earlier in the year to make sure you finish strong. Even a small (but positive) change now can have a big impact on your financial goals next year.
Speaking of next year, start thinking about the awesome vacas and trips you hope to fit in to give yourself the momentum you need to complete your goals this year. And while you’re in the habit of thinking ahead/imagining silky white sand between your toes, keep in mind your Christmahanakwanza expenses looming on the horizon (remember how we said winter is practically around the corner?!); be sure to account for them in your budget so they don’t get between you and bottomless pina coladas in Cabo San Lucas.
While your larger financial goals should ideally be a consideration all year round, here are a few of our favorite tips for finishing the year on an extra strong note:
- Make sure your tax deductions will cover your tax liability at the end of the year. A slight change now could save you from having to make a payment to Uncle Sam come tax season. Check out this sweet tool from the IRS to assess your tax liability, and project what your tax bill could be.
- Evaluate your contributions to your 401(k) or 457 plan. You may be on track to reach your contribution limit, but if you can afford to increase what you’re putting away for even these next few months, do it (like really—do it!).
- Make a plan for that remaining balance in your FSA or HAS account. Most require you to “use it, or lose it,” so get to scheduling all those doc appointments you’ve been putting off!
One of the most proven steps to financial success is to frequently check in with yourself. Life happens, and boy do we know how easy it can be to deviate from your financial plans. Luckily, there’s still a good three-and-a-half months left in 2017 to kick your goals back into high gear.
What are some ways you keep yourself on track when it comes to your financial goals?