It's the end of the year, and that means it's time to do some financial housekeeping. Here is a checklist of things to do in order to get your finances in order before the new year.

Review your Bank Statements & Credit Card Bills for Suspicious Activity

When it comes to safeguarding your finances, it pays to be vigilant. That's why it's important to review your bank statements and credit card bills carefully, looking for any suspicious activity. If you spot something that looks fishy, don't hesitate to contact your bank or credit card company. They'll be able to investigate and resolve the issue if necessary. In the meantime, take steps to protect your account information, such as changing your passwords and using two-factor authentication. By taking a few simple precautions, you can help keep your hard-earned money safe from fraudsters.

Check your Credit Score & Report to Make Sure There Are No Errors

Your credit score is one of the most important pieces of financial information about you. It's used to determine whether you're eligible for loans and credit cards, and it can even affect your ability to rent an apartment or get a job. That's why it's important to check your credit score and report regularly to make sure there are no errors.

Keeping an eye on your credit score is just one part of maintaining good financial health. But it's an important part, and it's worth taking the time to do it right.

Update Your Will or Create One

If you don't have a will, now is the time to create one. And if you do have a will, it's probably time for an update. Why? Because things change - and when things change, your will should change too.

Here are some of the most important reasons to update your will:

• You've gotten married or divorced: If your marital status has changed, it's time to update your will. Marriage usually invalidates a will, so if you're newly married, you'll need to create a new one. And if you've been through a divorce, you'll need to remove your ex-spouse from your will.
• You've had children: If you've had children or grandchildren since you last updated your will, you'll need to add them as heirs. Otherwise, they may not inherit anything from you when you die.
• You've bought or sold property: If you've bought or sold any property since you last updated your will, you'll need to make sure that the new property is included (or excluded) from your estate.
• You've changed your mind about who should inherit your estate: We all change our minds from time to time - and when it comes to our wills, that's actually a good thing. If you've changed your mind about who should inherit your property, it's important to update your will accordingly. Otherwise, your estate may not be distributed the way that you want it to be.

Making changes to your will may seem like a daunting task, but it doesn't have to be. You can easily update your will by working with an experienced estate planning attorney. And once your will is up-to-date, you can rest easy knowing that your family will be taken care of after you're gone.

Make a Budget for the Upcoming Year

One of the best ways to get your finances in order is to make a budget for the upcoming year. This may seem like a daunting task, but it's actually pretty simple. Start by writing down all of your income, including your salary, any investments, and any other sources of money. Then, list out all of your expenses, including your rent or mortgage, utility bills, groceries, and transportation costs. Once you have a clear picture of your inflows and outflows, you can start to make some adjustments. Are there any areas where you're spending more than you'd like? Are there any expenses that you can cut back on?

Save

Once you've made some changes, it's time to start saving. Begin by setting aside a fixed amount each month that you'll put into savings. If possible, try to automate this process so that the money is transferred automatically from your checking account to your savings account. Doing this will help you make headway on your financial goals and ease the stress of managing your money.

Invest in Yourself by Learning Something New

Whether you're looking to change careers or simply want to learn something new, investing in yourself is always a good idea. And what better way to invest in yourself than by taking a class or learning something new? Not only will you gain valuable knowledge and skills, but you'll also boost your confidence and feel more prepared for whatever life throws your way.

So what are you waiting for? enroll in that cooking class you've been meaning to take, or start teaching yourself how to code. There's no better time than the present to start investing in yourself. Who knows - you might just surprise yourself with how much you enjoy it.

Get Organized - Create a System for Tracking Expenses and Income

If you're anything like most people, tracking your expenses and income can seem like a daunting task. But it doesn't have to be! By getting organized and creating a system that works for you, you can make the process a whole lot simpler

One of the most important things to do is to choose the right method for tracking your finances. If you're a tech-savvy individual, you may prefer to use a spreadsheet or personal finance software. If you're more old-school, a good ol' fashioned notebook and pen may be more your style. The important thing is to find a method that works for you and that you'll actually use on a regular basis.

Once you've got your method of choice sorted out, it's time to start trackin'. Make a note of every penny that comes in and every penny that goes out. This may seem like a hassle at first, but after awhile it will become second nature. And before long, you'll have a clear picture of your financial situation - which is the first step to making smart decisions about your money.

Now that you're armed with six tips to help you financial prepare for the holidays, all that's left to do is put them into action. And if you need a little more help getting organized or creating a budget, we've got you covered. Check out our blog post on how to financially prepare for the holidays.

Preparing for the Holidays

This page is a publication of Fiat Wealth Management, LLC. The firm is registered as an investment adviser and only conducts business in states where it is properly registered/notice filed or is excluded from registration requirements. Registration is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability.

The information presented is believed to be current. It should not be viewed as personalized investment advice. All expressions of opinion reflect the judgment of the authors on the date of publication and may change in response to market conditions. You should consult with a professional advisor before implementing any strategies discussed. Content should not be viewed as an offer to buy or sell any of the securities mentioned or as legal or tax advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation.

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