As we approach the end of the year, I like to go through a financial checklist to make sure we’ve completed our goals for 2012, and to get ready for the start of 2013.
I made a lump-sum contribution to my RRSP this week, so now all that’s left to do is make one last TFSA contribution before the end of the year.
I also like to go back through our monthly budget and make some projections for our income and expenses next year.
I’ll make note of any irregular purchases and see if we need to plan for them again, or if they were just one-time expenses. Then I’ll look at our short term goals so we can plan ahead for any big purchases.
For next year, I’m going to increase our monthly mortgage payments by another $200 starting January 1st. I’m also going to make my annual TFSA contributions early in the year, so I’ll need to set aside some money for that.
Speaking of TFSAs, the annual contribution limit has been increased to $5,500 starting next year.
Take a Survey
Andrew Martin is a bi-weekly contributor here on Boomer & Echo and recently wrote about taking a career break. This is something Andrew has benefited from personally and, to assist his research in writing about how to travel long term and see the world, he’s created a short survey on the topic of career breaks.
Head on over to She Thinks I’m Cheap to take the survey and get entered to win a $50 Amazon or Best Buy gift card.
Here are some more great personal finance articles for you to enjoy this weekend:
- The Blunt Bean Counter asks if RRSPs are the holy grail of retirement savings
- Retire Happy Blog looks at some ways to simplify your personal finances
- My Own Advisor lists some great Canadian dividend stocks
- Money Mamba looks at the best industries to invest in
- Canadian Finance Blog asks is your investing too emotional?
- Timeless Finance made $100 an hour getting various rewards and rebates this year
- Rewards Cards Canada shares a holiday promo where you can get a $100 gift card
- Financial Uproar asks why do we assume spending will make us happy?
- Free From Broke says spending less is not the same as saving money
- Saving Mentor shares why Netflix doesn’t suck in Canada
- Financial Highway lists 7 tips on how to ask for a raise
- Million Dollar Journey explains how the Consumer Price Index affects us
- Young and Thrifty explains how to use a T1213 form
- Bible Money Matters writes about the emotional roller coaster of building a new home and selling your old house at the same time
- The Financial Post explains why young people don’t have it as bad as they think
Have a great weekend, everyone!