Top Ten Year End Planning Musts

With only 11 days left in 2013, I am taking this Friday to remind you of items you should check off your list before we hit 2014. I know there is a lot going on for most people between now and the end of the year, but take the time and review this list to make sure you have done everything you need to do in 2013.10) Review your credit score - You should do this regularly, but definitely use this time of year to check in and make sure everything looks okay. I love Credit Karma because it is free and gives you a report card telling you what you can do to improve your credit score.9) Confirm your healthcare coverage for next year - Did you lose it because of Obamacare? Did you confirm it with your company? Do you need to go to healthcare.gov? Make sure you and your family are set for 2014.8) Business Planning - Do you own a business and need new equipment or new to make other business related expenses in 2013? If you plan to write them off for this year, then make sure they are purchased before year end.7) IRA Contributions - You technically have until you file your taxes to take care of this, but if you were planning on making a contribution to your IRA for 2013, why not take care of it now?6) Gifts to Family or Non-Profits - If you were planning to give cash or stock gifts this year, you need to make sure those are done before the calendar year end.5) Doctor appointments - Have you gotten your money's worth on your doctor visits this year? If you have access to these through insurance and you have not scheduled them, get them in before year end. Typically people forget eye doctors, dentists and your general physician for your annual physical. Preventative care is essential for long term health and wellness.4) Donations - Make sure that you give your clothes and goods to your charities before the end of the year, especially if you plan to include them on your tax return.3) Flex Spending - If you still have money in your flex spending account, make sure you make purchases before year end so you can use it and not lose it.2) Investment Portfolio Review - If you have non-retirement investments, you should review your portfolio for gains and losses and determine if you want to take them before the end of the year.1) Budget for 2014 - The end of the year is a perfect time to reflect on the previous year and lay out the plan for the next year. I know most people think that budgets are a nuisance, but it is the best road map you can give yourself to assure that you achieve all of your financial goals in life. I have suggested sites to help with this, but you can also just use a simple spreadsheet to plan it out.