Hi folks! Well, we’re in the last 2 months of 2024, can you believe it? I believe a year-end personal review is the best thing you can do 
Set yourself up early before the holidays.
To start, here are a few simple things you can do right now:
1. Write down every monthly and annual expense you have
2. For items that fluctuate like groceries. Look at the last 90 days of activity in your banking app or online banking and add up your monthly purchases, get an idea of your high, low and average weeks. Please never assume you know what you’re spending if you haven’t looked
3. If you have annual expenses like auto insurance, divide the total by 12 and write it on your monthly expense list
4. If you have pet(s) that sometimes require medical treatment, calculate the average in the last several years and get a monthly average to add to your monthly expense list
5. In Another column of your written list or spreadsheet, write your monthly GROS income before tax are deducted as well as any Child Tax Credit or other benefits that you receive.
Any tax, union dues and RRSP contributions should be added to your monthly expense list.
If tax deductions are ignored rather than treated as the expenses they are, you’ll likely never consider ways to reduce them, which there are many
One thing I can tell you, delving into your income and expense list deeply as described here is a giant first step into solving or preventing ANY financial difficulty no matter the severity. When the pieces of a puzzle are presented in an organized way, a picture begins to form which will energize you and make you ask the right QUESTIONS which is the only way to ever discover the right ANSWERS in any situation.
Once this giant first step is complete, here are a few next steps that will help you quite a bit:
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It Should Be Noted
While discovering your own financial best practices, you may discover some non-financial things that will prevent you from moving to your next chapter such as developing bad spending habits or even treatable illnesses such as gambling or substance dependency.
This is part of the journey of personal improvement. Don’t hesitate to address these things along the way in an organized way so that you can continue the process where you need to for success.
Cheers,
DGB
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