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Your 2022 End-of-the-Year Financial Checklist:

The end of the year is a great time to take stock of your finances, but it can also be overwhelming. Many tasks need to be completed, and it can be hard to know where to start. This checklist will help you navigate the year-end financial minefield with ease.

  • Review Your Investments 

As you go over your portfolio and make sure all items are in order, be sure to review the following areas. 

  • Ensure that your portfolio mix aligns with your risk tolerance and income level.
  • Go over the allocation between growth, income, and fixed assets (such as bonds).
  • Review the performance of individual funds that comprise the portfolio.

If you want help setting up your portfolio, exploring investment opportunities, or wondering if you are on track to building wealth, Portage Bank can help!

  • Go Over Your Budget

Have you been sticking to the budget you set for yourself? If not, why not? Are certain expenses tallying up to cost more than you had anticipated? Taking the time to trim expenses in certain areas while cushioning others will ensure that you stay on track in 2023. 

Think through expenses coming at you next years, such as kids’ college, new car payments, emergency funds, car repairs, or doctor’s visits. Make sure your budget is updated and ready for the coming financial year even when facing the unexpected.   

  • Plan for when you Need to Access Your Funds

If you have investment money tied up, you should have a plan of action for accessing your money in emergencies. You may also want to consider opening an emergency fund with $1,000 or more so that you have enough cash to cover unexpected expenses.

  • Investment Planning

If you don’t have investments yet but want to get started, start planning accordingly. Portage can help you with this if it seems overwhelming or unfamiliar. You will want to consider financial goals for retirement and go over how much money you think you might need to live comfortably.

Now is a great time to invest in Portage. Our Money Market Accounts have competitive rates that are beating big banks. We can help advise you every step of the way as you plan to invest your money, build wealth, and start living out your dreams. 

  • Review Your Financial Situation

Are there any changes on the horizon? For example, do you have plans to retire soon? Do you expect to sell your home or relocate? Is there an upcoming wedding? Start planning for those things now. 

Take some time to think about where things stand financially—not just earnings but budgeting and investing. This way, if something unexpected happens during this period, such as an injury or illness that prevents someone from working full-time during these months – including yourself! – then you’ll have the peace of mind knowing that you are all set!

Portage Can Help!

We know how to manage money and can help you invest in your future as you build and manage wealth, or even if you’re just starting your financial journey. We have a solid team of advisors standing by! Call us if you have questions, or open an account online with Portage Bank today.


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