Year-End Financial Review: Overcoming Past Financial Mistakes

We’ve reached December. Holiday season is in full swing with shopping and family gatherings. Often leaving little time to reflect on the past year. Celebrating the holidays often becomes the focus for the entire month. However, it’s also good to reflect on challenges, especially with the new year and resolutions right around the corner. Think about the financial challenges you experienced this year and what changes you could make to build confidence going into 2025. In this blog, I’ll share tips on how to reflect on past financial mistakes and build confidence coming into the new year.

First, think about your financial choices over the past year. Were some a mistake or regret? Did a choice slow down your progress on your goals? Maybe balances on your credit cards increased or it was difficult to save. Maybe tracking expenses got overwhelming which caused finances to come apart. If any of these items feel familiar, take a breath, life happens. Now is a good time to reset. Consider what happened this year that caused more credit card debt or what made it harder save. Think about ways you can handle your finances differently going forward.

Second, think about your financial choices that were positive and helped you reach your goals. Maybe you added to your savings or paid down one debt. If that feels familiar then, congratulate yourself. Same as above, life happens so celebrate all your progress. Take a moment to review how you were successful in reaching that goal. Maybe you saved your change all year, put one item back at the store. Or you used the debt snowball method and paid off your smallest credit card. How did those financial choices help you reach your goals? Afterward, how did it make you feel?

Overall compare your successful financial choices and those you regret. Look at the steps that worked. Remember, you accomplished a goal using them. Let that build your confidence in the new year. Continue to do what works and try similar steps on the choices you regret.

As you start 2025, particularly about this coming year’s financial goals, remember resources and organizations, such as Apprisen are here to help. You don’t have to do it by yourself. Apprisen offers support to pay off debt with our Debt Management Program. Equally we have a variety of services to help you reach your financial goals.