Issue #13: 5 items to Prep before End of Year Review

Issue #13: 5 items to Prep before End of Year Review

Lucky #13, #13 issue that is! Thank you for all supporting me!

Now into one of the most important times of the year, not because we get leave a year behind but it is time with family! Time to reflect on all the great times had and time to relax with family (as best you can, of course).

In this issue we will get you prepped for the end of year review, this issue will come out on 12/28. It is important to understand that this is a process, so we break it down over three weekly themes, 1st week - Gather/Reflect, 2nd Week - Reflect/Relax/Enjoy Family, 3rd Week - Review/Plan Next Year. So let's get started!

5 Items to Prep Before Year End Review

1. Enjoy Family Time - Simply put enjoy the time away from work with your family! Your mental capacity is running out and we all get that "Senioritis" around the holidays because we know that we get time off or things start to slow down. So do just that slow down, remove your brain from work and the stresses of life (well, do your best here, guilty myself of not being able to let go 100%). For me nowadays, I put all my electronics on silent with no notifications and let everyone know that I will not be available the 22nd-28th and the 30th-2nd. This allows quality time with the family and prep time for the End of Year Review.

2. Remember and write down the Good Times from 2022 - I truly believe this step is vitally important to do prior to any review of the year/goal setting for the next year. The reason for that is it puts you in a positive mindset, especially a positive #moneymindset. For me, it is obviously our annual trip to Hawaii, but not for just being on a beach. It was watching our boys grow and develop into kids who love to swim in the ocean and overcome the fears from the year prior. I have two others, one being our trip to Estes Park. This one was special because it was the place my mother wanted her ashes to be spread, so we spent 3 days in the park finding the spot that she wanted in/around Bear Lake. This was an emotional day (trust me, I even broke my truck mirror...different longer story) beyond what I thought it would be but it was a time for our family to come together and reflect, it was special. The other good memory from 2022, was watching the boys continue to grow in athletics, Lincoln even did flag football this year and I coached (he wanted to do tackle) so it all warmed my heart. So what comes time mind for you?

3. Find 2022 Goal Notes - YEP! Those notes/goals that you may have forgot about or got off track and said screw 'em. Those we need to gather those up. For those that crushed their goals or are my organized than the rest of us, also gather yours up. This step is self-explanatory but in order to move forward one must reflect back on the failures and successes from the year prior. If this means you need more goals or less goals, some achievable some stretch then so be it but if you don't write it down and share it then "what's the point?" - That's what your brain will say and you will NOT achieve your goals.

4. Gather up EOY Bank/CC/Investment Statements - Pretty straightforward here but it may take a little bit of time. Some of you may have a tool that you can upload or integrate with these accounts (we have them available as well, regardless if you are a client or not of Black Mammoth), if you do not then it is time to download the EOY statements for all of these in a PDF. It will be a lot of transactions and items but it will be vitally important for you to understand how and where your money flows to/from. This will be the meat of what you do at the EOY Review, once you get organized each year does get a little easier. Yes, we do this with all our clients.

5. Gather Up The Ol' Budget - Just like dusting off your goal notes, time to bring out the budget. Now this is to not shame yourself about but to take the information from #4 and check out how you have stayed on "budget" (fyi, budget = average) an average is better than saying I cannot go over "budget" this will cause a negative #moneymindset. No need to review it now just make sure you have it handy.

There you have it the 5 items that you need to check off in this 1st week before the end of the year! Enjoy your time with your family over the holidays and be ready to review that last week of the year!

You maybe looking for more insight into this topic, this is our podcast show from last year (new one will be out Last week of December) Be sure to subscribe and like/comment please!

#NoBSWealth Clip of The Week

Cannot wait until next week or just want more, check out our podcast @nobswealth and catch us on Youtube. You can always follow me on Instagram and Twitter as well! Or just email me, [email protected].

Most importantly come check out our Website and give us some feedback. Make sure to subscribe to this newsletter and if you are wanting time to chat with me 1on1 you can schedule that here or if you are wanting 2 hours a month with me, join our Beachside Chat Community, every 2nd and 4th Tuesday at 6pm CST!

#Goonsquad Clip of The Week

If you are a sports nerd like me and want a pod to listen to or watch come check out our @nobsgoonsquad (podcast), here is the link to the show, we go live every Tuesday at 4:30pm CST!