5 Financial Planning Tips to End the Year

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The new year is upon us, so it’s only smart to start looking towards next year so you aren’t caught off-guard. Now is an excellent time to review your entire financial situation, take inventory and set some goals for 2019. Follow these 5 tips and you’ll be on your way to an effective financial assessment.

#1 – Check your 2018 plan. Did you accomplish everything you wanted to do financially this year? If not, be sure to include your unfinished goals to your 2019 plan and let’s make it a point to get them done.

#2 – Go over your current cash flow. What expenses do you have each month? Where are you spending your money? Try to find places in your budget that you can do away with to save more (yes, I’m talking to you, $5 lattes). I always say that financial planning is a game of inches. A small tweak here and a small tweak there can do wonders for your monthly budget.

#3 – Review your home and auto insurance. Are you spending more on your policies than you need to be? If you haven’t reviewed your home or auto insurance lately, now’s a perfect time to see if your coverage makes sense for your current needs. If you want, we can gladly introduce you to a trusted home and auto insurance advisor in our professional network that can perform a cost analysis for you.

#4 – Consider any new life events coming in 2019. Planning on moving? What about retiring? Whatever life events that may be coming in 2019, be sure to anticipate your future financial needs and plan accordingly, so you aren’t caught off-guard.

And #5 – Talk to your financial advisor. The end of the year is a great time to evaluate your savings goals and make sure you are still on target. Also, it may make sense to double-check your beneficiaries to confirm that changes or updates aren’t needed on your accounts.
Finally, your advisor can explore different ways that you can save on taxes in the new year, or reduce your taxable income. Tax season is definitely coming up, but there may still be time to make changes.

So, as you can see, there are some important decisions you can make as the year comes to a close to confirm your financial house is in order, and it’s an ideal time to review your financial strategy. If you would like a year-end review of your financial situation, contact our team at Bravias Financial today.


Investment Advisory Services offered through Bravias Capital Group, LLC (“BCG”), a New Jersey State Registered Investment Advisor. Bravias Capital Group, LLC and Bravias Financial are independent entities. This video is for educational purposes only and should not be construed as legal or tax advice. One should consult a legal or tax professional regarding their own personal situation. Any comments regarding safe and secure investments and guaranteed income streams refer only to fixed insurance products offered by an insurance company. They do not refer in any way to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims paying ability of the issuing company. Variable insurance and annuity product are considered securities products and require one to have proper FINRA registrations, in addition to proper state insurance licensing, prior to selling or discussing such products. Insurance products and services are offered through individually licensed and appointed agents in various jurisdictions. Any comments regarding safe and secure investments, and guaranteed income streams refer only to fixed insurance products and do not refer, in any way, to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims-paying ability of the issuing company. NOT FDIC INSURED. NOT BANK GUARANTEE. MAY LOSE VALUE, INCLUDING LOSS OF PRINCIPAL. NOT INSURED BY ANY STATE OR FEDERAL AGENCY.While we believe the information in this report is reliable, we cannot guarantee its accuracy. Opinions expressed are subject to change without notice and are not intended as investment advice or a solicitation for the purchase or sale of any security. Please consult your financial professional before making any investment decision. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining markets. The indices mentioned are unmanaged and cannot be invested into directly. Past performance does not guarantee future results.


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