Plan Your Financial Year: A Practical Start-of-Year Checklist
The start of a new year is a perfect time to take stock of your finances and set yourself up for success in the months ahead. Without a written financial plan, it’s harder to reach savings goals, reduce your debt, or build wealth over time. Without a roadmap, many feel unsure where to begin but breaking financial goals into smaller, manageable steps can make all the difference. Use this list to plan your financial year and set yourself up for success.
1. Review Your Budget
Begin by taking a fresh look at your income and expenses. A detailed budget helps you see where your money goes, prioritize spending, and find opportunities to save or pay down debt. Financial planners often recommend familiar methods like the 50/30/20 rule—where needs, wants, and savings/debt payments are allocated specific percentages of your income—to build a manageable plan.
2. Tackle High-Interest Debt
Paying down debt early in the year can free up more of your income for savings and goals later. Make a list of what you owe, note interest rates, and create a strategy to chip away at higher-rate balances. Regularly reviewing your debt helps you stay accountable and make progress toward becoming debt-free.
3. Build or Reassess Your Savings Plan
Set specific savings goals, whether for emergencies, short-term needs, or long-term plans. Breaking large goals into smaller targets makes them more achievable and easier to track. Automating transfers to a savings account can remove the temptation to spend and help ensure consistent progress throughout the year.
4. Put Digital Banking Tools to Work
Digital tools make it easier than ever to stay on top of your financial plan. Use Mobile and Online Banking to monitor spending trends, track savings goals, and set alerts. Many apps and platforms also allow you to organize accounts, categorize transactions, and see progress in real time, helping you stay informed and empowered. Tools like My Insights help you keep track of your budget, set your savings goals, and stay up to date on your finances.
5. Review and Adjust Regularly
Life changes, and so should your financial plan. Set monthly check-ins to evaluate your budget, assess your savings pace, and adjust plans based on evolving goals or expenses. This practice helps you stay flexible and focused throughout the year.
Planning your financial year doesn’t have to be overwhelming. By reviewing your budget, managing debt, planning savings, and leveraging digital banking tools, you can build financial confidence and make steady progress toward your goals.
Need a little help getting started? Our team is here for you. Set up a Financial Wellness appointment today.
1. Review Your Budget
Begin by taking a fresh look at your income and expenses. A detailed budget helps you see where your money goes, prioritize spending, and find opportunities to save or pay down debt. Financial planners often recommend familiar methods like the 50/30/20 rule—where needs, wants, and savings/debt payments are allocated specific percentages of your income—to build a manageable plan.
2. Tackle High-Interest Debt
Paying down debt early in the year can free up more of your income for savings and goals later. Make a list of what you owe, note interest rates, and create a strategy to chip away at higher-rate balances. Regularly reviewing your debt helps you stay accountable and make progress toward becoming debt-free.
3. Build or Reassess Your Savings Plan
Set specific savings goals, whether for emergencies, short-term needs, or long-term plans. Breaking large goals into smaller targets makes them more achievable and easier to track. Automating transfers to a savings account can remove the temptation to spend and help ensure consistent progress throughout the year.
4. Put Digital Banking Tools to Work
Digital tools make it easier than ever to stay on top of your financial plan. Use Mobile and Online Banking to monitor spending trends, track savings goals, and set alerts. Many apps and platforms also allow you to organize accounts, categorize transactions, and see progress in real time, helping you stay informed and empowered. Tools like My Insights help you keep track of your budget, set your savings goals, and stay up to date on your finances.
5. Review and Adjust Regularly
Life changes, and so should your financial plan. Set monthly check-ins to evaluate your budget, assess your savings pace, and adjust plans based on evolving goals or expenses. This practice helps you stay flexible and focused throughout the year.
Planning your financial year doesn’t have to be overwhelming. By reviewing your budget, managing debt, planning savings, and leveraging digital banking tools, you can build financial confidence and make steady progress toward your goals.
Need a little help getting started? Our team is here for you. Set up a Financial Wellness appointment today.
January 16, 2026