You can and should make ending on a good financial note a priority as the year draws to an end. These 3 simple steps will give you some direction and help you enter the new-year on a financial high point.

Use Any Extra Money Wisely

Use any extra money wisely and do not spend it all on having a good time. This will mean that you have to make a few hard decisions and tough sacrifices especially if you are in a position to end the year with a small windfall or your work place has a 13th check policy.

Take control and change your mindset so that you are in a good financial position by the time the new-year roles in.

Scrutinize All Your Payments

List all the payments that are due and when you are making your list don’t try to do it all by memory; check all your bills. Do not forget to take a look at your mobile bundle status and any other automated payments and see if they still stand. If it seems like you’re spending an abnormal amount of money in any category, look for ways to cut back on those expenses.

This exercise may be time-consuming but it is instrumental for helping you get a clear idea of your financial situation and will help you end the year with no unnecessary or hidden expenses. You do not want to be paying for things you didn’t realize you were paying for or that you will not be using anymore come the New Year.

Do Not Forget Your Debts

If you have picked up some debt during the year do not remain oblivious to it. Check how much debt you really have and face reality. List all the true amounts, the interest remaining and the minimum payment you are required to make. If you know what you still owe you can make the necessary preparations now in a budget.

Using a budget to manage your money next year will be an important key to paying off your debt. Keep in mind that if your budget does not work during the first few months you must not give up but keep working on it and know that you can adjust the numbers up and down so it matches as close as possible to your actual income and expenses.