Lesson 8 of 8 · 13 min

The annual money review

A one-hour yearly review of income, commitments, savings, debts and goals that keeps your whole system healthy.

In this lesson you will

Run a structured one-hour review of your finances
Compare this year's commitments with last year's
Update savings targets, debt plans and insurance
Set three priorities for the year ahead

Education, not advice. This lesson explains general ideas and does not consider your personal situation.

Why once a year

Monthly check-ins keep the system running. A yearly review keeps it pointing in the right direction. It catches the slow changes that monthly views hide: price rises, new commitments, lifestyle creep, and goals that no longer fit.

Book one hour, the same week every year. Many people use the week after the new year, their birthday, or the start of their tax year.

Section 1: Income (10 minutes)

What did you earn this year, after tax?
How did it change from last year?
Are any changes coming: a raise, new work, a career break?

Level 2: Budgeting & Cash Flow

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Budash Academy and the Budash blog are for general education only. They are not financial, investment, tax or legal advice, and they do not take your personal circumstances into account. For advice, speak to a qualified, regulated professional.