Posted
on Tuesday, December 16, 2025
in
Financial Education
Recap Your Financial Year and Plan for the Next
With the end of 2025 drawing near, it’s a great time to look back at spending patterns and habits, review savings and investments, make a plan for paying off debt, and set financial goals for the upcoming year. By taking a few simple steps at the end of the year, you can enter 2026 feeling organized and confident about meeting your financial goals. Work with us to take steps toward achieving your financial goals.
Follow this checklist to reflect on 2025 and set goals for 2026:
Review accounts
Before setting new goals, take the time to closely review financial information like bank and investment accounts, credit card bills, loan balances and any outstanding debt. Be sure your spending aligns with your goals.
Analyze spending habits
Identify areas where you spent more than you planned to, like non-essentials, eating out or unused subscriptions. Whatever it is, make a budget for it and stay within that budget — small adjustments can make a major impact in the new year.
Evaluate savings and investments
Assess whether you’re staying on track with savings and investment goals. Increase contributions to IRAs or 401(k) accounts if possible and consider rebalancing your investment portfolio.
Get ready for tax season
Stay organized by gathering documents like paystubs, donation and deductible expense receipts ahead of tax season.
Establish goals for the upcoming year
After taking the time to reflect and assess, use these insights to set realistic and timely goals. Consider using a budget-tracking app or mastering an Excel spreadsheet. Decide what milestones you’re striving toward — retirement, buying a house, or saving for college. Establish a relationship with a Boone Bank & Trust Co. employee to keep you moving toward your goals.
Learn More
For more information about review your year financially and planning for the next, give us a call at 515-432-6200.
These tips are provided by the Iowa Bankers Association
- budget
- cds
- expenses
- financial education
- financial goals
- financial literacy
- money management
- retirement
- savings