How to end the year on a financially sound note, even from September

The end of the year is a time for reflection and setting goals for the future. But for many people, the thought of getting their finances in order can be daunting, especially if they’ve fallen behind in the past few months. However, it’s not too late to make a fresh start and end the year on a financially sound note.

Here are 7 key points that can help you get started:

1. Take stock of your finances. This means reviewing your income, expenses, and debts. Once you have a clear picture of your financial situation, you can start to make a plan for improvement.

2. Revamp your budget and create a budget that works for you: Begin by revisiting your budget, but this time, think Naira-smart. Take a detailed look at your income and expenses and identify areas where you can cut back or allocate funds more efficiently. Setting a clear budget will help you navigate the economic terrain with finesse. A budget is a roadmap for your money. It helps you track your spending and make sure you’re not overspending in any one area.

3. Set new financial goals or revisit the goals you set at the beginning of the year: Establish clear financial goals for the remainder of the year. Whether it’s saving for a specific purchase, paying off debts, or building an emergency fund, having well-defined objectives will keep you motivated and on track.

4. Review and adjust investments. Take a closer look at your investment portfolio. Ensure it aligns with your long-term goals and risk tolerance. Rebalance your investments if necessary to keep them on track. And if you haven’t stated investing, include starting your investments as one of your goals for the remaining part of the year. You can start with low-risk investments, such as opening a money market mutual fund.

5. Get rid of unnecessary expenses. Take a close look at your expenses and see where you can cut back.

Every little bit helps.