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  • Writer's pictureJayson M. Thornton, CFP

HOLIDAY SEASON IS A GREAT TIME FOR A FINANCIAL CHECKUP



As the holiday season draws near and your calendar fills with celebrations, you may be thinking less and less about finances. You might even be considering putting off financial planning until the new year and wrapping it into a New Year’s resolution!

You wouldn’t be alone in focusing on your finances and spending in the new year. According to a Barron’s article published in 2022, 53% of people who made New Year’s resolutions focused on finances. The top five financial goals were:

  • Save more money (57%)

  • Track spending more carefully (48%)

  • Reduce spending across the board (43%)

  • Cut spending on non-essentials (42%)

  • Pay off loans (40%)


However, waiting for a financial checkup until the new year might not be the best approach. Instead, the beginning of the holiday season is a great time to sit down with a financial advisor to go over your spending and finances. Here are five reasons to get a financial checkup right now:

  1. You know money is about to flow out for gifts and celebrations. Understanding your holiday spending limits is crucial to avoid overspending, maintain your budget and keep savings intact.

  2. Year-end bonuses might be coming, and it’s important to decide how to optimize that money, whether it’s paying off debt or planning a much-needed vacation.

  3. Open enrollment for health insurance could be happening now. Choosing insurance tailored to your needs improves your financial position and aids in budget planning for the upcoming year.

  4. If a significant life event has taken place this year, don’t wait to get your finances in order! Whether it’s getting married, having a child, getting divorced or losing a loved one, these all have financial consequences that should be considered and evaluated.

  5. Set yourself up for success. If you’re planning on making a financial resolution, then having a financial checkup and getting everything in order ahead of time allows you to stick to your money goals.


Given the current economic environment, with high inflation and a competitive job market, pennies are being pinched and wallets are tighter than ever. Having a professional review your finances with you might be the dose of reality you need to start putting changes into motion. It’s hard to look at your own finances and spending objectively, and far too easy to become overwhelmed. Having someone organize your finances and then make appropriate recommendations will enable you to be smarter and more efficient with your money.


Think of it like your “financial physical.” You go to the doctor to check in on yourself and make sure you are healthy. Going to a financial advisor to review your financial plan is the same thing — making sure that your financial future still looks healthy.


When you work with a CERTIFIED FINANCIAL PLANNER™ professional, you have an advisor who has met rigorous qualifications for financial planning and has made a commitment to CFP Board to act in the best interests of their clients. They can offer comprehensive solutions for your unique situation and money goals — even for complex issues like your investment portfolio, tax planning or your estate plan — and can help you confidently navigate changing financial landscapes.


Find your CFP® professional today and take a step toward a healthy financial situation just in time for the holidays.


By Erin Voisin, CFP®

Edited by Jayson Thornton, CFP®

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