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  • Writer's pictureNathalie Edeen

The Importance of an Annual Financial Checkup: Why December Is the Perfect Time

As the year draws to a close, it’s time for more than just holiday festivities and New Year’s resolutions—it’s a crucial moment to assess your financial well-being. December is the perfect month for an annual financial check-up. Why? Well, let's talk about it.

The Financial "Checkup":

Think of your financial health like your physical health. We visit the doctor for an annual checkup, right? It's not because we enjoy wearing those paper gowns, but because it's essential to catch any issues early and ensure we're on the path to a long and healthy life. Your financial health deserves the same attention. An annual financial checkup is your financial doctor's appointment, and December is your designated appointment month. 

Year-End Reflection:

As we approach the end of the year, December is the perfect time to reflect on your financial achievements and setbacks. It's like a report card for your money management skills. You can assess your progress toward your goals and make any necessary adjustments to finish the year strong. 

Tax Planning:

Starting your taxes early can relieve the stress that March and April may bring, making December the ideal month to dive into tax planning. It's essential to ensure you're taking advantage of all the deductions and credits available to you. A financial checkup can help you identify potential tax-saving opportunities before the year is over. 

Learn all you need to know about year-end tax planning by downloading our guide below!

Annual Bonuses:

Many companies hand out annual bonuses in December. An annual financial checkup in during this month can help you determine the best strategy for using this windfall. Whether it's paying down debt, saving for a big purchase, or investing for the future, a financial checkup can ensure your bonus is put to good use. 

New Year, New Resolutions:

The New Year brings a sense of renewal and the desire to set new goals. By having your financial checkup in December, you can hit the ground running in January with a clear plan for your financial resolutions. It's like prepping for a marathon before the starting gun goes off! 

Steps for a Successful Annual Financial Checkup:

  1. Review Your Budget: Analyze your spending and income to ensure you're living within your means and meeting your financial goals. 

  2. Assess Your Debt: Look at your outstanding debts and create a plan to pay them off efficiently. 

  3. Evaluate Your Investments: Review your investment portfolio to ensure it aligns with your financial objectives. 

  4. Check Your Credit Score: Monitor your credit score for any inaccuracies or areas of improvement. 

  5. Set New Goals: Aspire to reach new financial milestones and outline a plan to achieve them. 


Now is the time to pause, reflect, and ensure you're on track to meet your financial goals. By scheduling yourself a time for an annual financial checkup in December, you'll be well-prepared for the year-end, tax season, and the fresh start of the New Year. So, grab your calendar and mark down the date for your financial checkup now – your financial future will thank you! 

Remember, while this process is vital, it doesn't have to be a daunting task. If you're feeling overwhelmed or unsure where to start, don't hesitate to reach out to us so we can help can guide you on your journey to financial success!


Registered Representative of, Securities and investment advisory services offered through Hornor, Townsend & Kent, LLC. Registered Investment Adviser. Member FINRA/SIPC. 600 Dresher Road, Horsham PA 19044. 800-873-7637, HTK is a wholly-owned subsidiary of The Penn Mutual Life Insurance Company. HTK does not offer tax or legal advice. Caserta & de Jongh, LLC is unaffiliated with HTK.  


For Educational Purposes Only - Not to be relied upon as financial advice. Not all topics discussed may be suitable for all investors. 




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