Personal Finance

Your new financial checklist for 2016

financial checklist 2016

2016 has finally arrived and kicked out 2015 with triumph. I am so utterly relieved now. Last year was a complete disaster for me. The only positive thing that happened was my blog. I could finally start my blog and connect with you all. Thanks a bunch God!

Okay. Let’s forget 2015. That’s past. Now, it’s time to focus on our future – 2016. The beginning of the year is the perfect time to set your financial priorities and goal. Here’s a checklist to help you decide your financial to-dos.

  1. Pay back your unhappy and grumbling creditors within the first 6 months of 2016
  2. Consult a tax consultant and file your income tax returns
  3. Review your insurance coverage and the amount you’re paying on premiums
  4. Use your year-end bonus for the holiday shopping budget
  5. Increase your income since cost of living is increasing
  6. Set up automatic savings account to boost your emergency fund
  7. Review your beneficiaries in your insurance plans
  8. Review all the tax law changes in 2016
  9. Increase your contribution amount for your retirement savings plans
  10. Save money for your kids’ higher education
  11. Check your credit reports and fix all the errors
  12. Don’t repeat the financial mistakes you did in 2015

So, this is my financial checklist for 2016. Did I miss out anything? If yes, then please do let me know about it.