End-of-Year Financial Wrap-Up Checklist

Dec 16, 2025 | 3 Minute Read

End-of-Year Financial Wrap-Up Checklist

As the year draws to a close, it’s the perfect time to review your finances and set yourself up for a successful 2026. Conducting a year-end financial checkup allows you to assess your progress, make adjustments, and take advantage of opportunities before the new year begins. Whether you want to optimize savings, review mortgage options, or ensure your accounts are in good standing, North Brookfield Savings Bank is here to help. Use this comprehensive checklist to wrap up your financial year on the right note. Year-end planning is one of the best ways to succeed in the year ahead.

1.  Review Your Financial Accounts

Start your year-end financial checkup by reviewing all your bank accounts, including checking, savings, and investment accounts. Consider the following:

  • Ensure your checking account meets your needs – If you’re paying unnecessary fees, it may be time to switch to a free checking account.
  • Assess your savings strategy – Did you reach your savings goals? If not, adjust your contributions for the upcoming year.
  • Look at your investment performance – If you have investment accounts, review their performance and make necessary adjustments.

2.  Evaluate Your Budget & Spending Habits

The end of the year is a great time to reflect on your spending habits and make improvements where necessary.

  • Analyze your expenses – Look at where your money went this year and identify areas where you can cut back.
  • Adjust your budget for 2026 – If you faced unexpected expenses in 2025, plan ahead and set up an emergency fund to better prepare for surprises.
  • Use online banking tools – North Brookfield Savings Bank offers digital banking features to help track expenses and manage spending habits effectively.

3.  Assess Your Mortgage & Loan Options

If you have a mortgage or outstanding loans, reviewing your repayment plan before the year ends can help you save money.

  • Check for refinancing opportunities – If interest rates have changed, refinancing could lower your monthly payments.
  • Make an extra mortgage payment – Reducing your principal balance now can save on interest over time.
  • Review home equity options – If you’re considering home improvements or debt consolidation, a home equity line of credit (HELOC) might be a smart option.

4.  Maximize Your Savings & Retirement Contributions

Taking advantage of savings and retirement accounts before the year ends can help boost your financial security.

  • Contribute to your retirement plan – If you have an IRA or 401(k), check if you can contribute more before the tax deadline.
  • Utilize tax-advantaged savings accounts – Accounts like a Health Savings Account (HSA) or a 529 education savings plan can offer tax benefits.
  • Increase automatic savings – Setting up automatic transfers to your savings account can help you reach long-term goals faster.

5.  Check Your Credit Score & Debt Status

Your credit score plays a crucial role in financial decisions, from loan approvals to interest rates. Use year-end as a time to review your credit status.

  • Check your credit report – Ensure there are no errors or fraudulent activities on your account.
  • Pay down high-interest debt – Focus on reducing balances on credit cards and other high- interest loans.
  • Plan for debt reduction – Consider debt consolidation options if you have multiple outstanding balances.

6.  Organize Your Financial Documents

Keeping your financial records in order will make tax season easier and ensure you’re prepared for the year ahead.

  • Gather tax documents – Collect W-2s, 1099s, and other necessary tax forms.
  • Review insurance policies – Ensure your home, auto, and health insurance policies provide adequate coverage.
  • Update your estate plan – If there have been life changes, update your will and beneficiary designations.

Start 2026 on the Right Financial Foot

Completing your year-end financial review will help you start 2026 with confidence. North Brookfield Savings Bank is here to support you with the right accounts, financial planning tools, and lending solutions to help you reach your goals. Visit us today to discuss your financial needs and make the most of the new year. We can help you with mortgage planning and other tools to succeed in the year ahead.