Your Financial Year in Review
Before setting new financial goals, it’s worth taking a clear look at your money habits and activity over the past year. Having a financial plan can help you feel motivated to make positive money moves while remaining accountable for spending and saving habits.
Additionally, you’re more likely to feel confident about your money and stay on track with long-term goals. A financial year in review helps connect everyday decisions, such as payments, spending habits, and saving patterns, to useful data. Simply put, it could drive better decisions.
Why Your Yearly Financial Highlights Matter
A year in review highlights where your money worked for you and where you experienced challenges. According to USBank.com, it’s vital to have a yearly spending checklist to better understand your money flow, prepare for retirement, and for unexpected expenses.
If you’re unsure of what to consider when making your own, the following examples can be helpful, and include:
- Calculate the remaining debt balance from last year and compare it to where you started at the beginning of the year
- Interest paid versus principal paid over the year
- Establish prioritizing paying off debt before other bills
- Tracking months where cash flow felt tight
- Extra payments from bonuses or tax refunds
- Progress toward payoff or savings milestones
How AutoPayPlus Helps You See the Full Picture
AutoPayPlus makes your financial year in review easier by showing you how automated, aligned payments impacted your progress. To do this, log into your Member Portal, select my transactions, and view your history. This keeps you in control to track and or view your spending.
