The Annual Money Review: A One-Hour Checklist

Set aside one hour

Same time each year. Coffee, both partners, one list.

The checklist

1. Income: what actually landed last year versus what you budgeted.
2. Spending by category: which three grew the most, and why.
3. Subscriptions: cancel anything you would not re-subscribe to today.
4. Insurance: re-quote home, car, and life. Loyalty is rarely rewarded.
5. Utilities and broadband: check whether you have rolled onto a standard rate.
6. Bank fees and interest: are you paying for an account you do not need?
7. Debt: current rates, balances, and whether a consolidation genuinely helps.
8. Emergency fund: does it still cover your current expenses, not last year's?
9. Goals: finish, retire, or re-date every goal on the list.
10. Net worth: compare against the same month last year.
11. Beneficiaries and documents: accounts, policies, and wills still accurate?
12. Next year's irregulars: trips, renewals, birthdays, school costs — fund them monthly starting now.

Finish with one decision

Pick a single change to carry into the new year. One change kept beats twelve abandoned by February.

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