The Year-End Money Checklist for You and Your Family

The end of the year is one of the most powerful — and underused — moments for resetting your relationship with money.

Not because you need a perfect budget or a dramatic financial overhaul.
But because this is a natural pause point: a chance to look back with clarity, clean up what’s no longer serving you, and set intentional goals for the year ahead.

And here’s the part most families miss: this is also one of the best times to include your kids.

When year-end money reflection becomes a family ritual — not a stressful scramble — you’re teaching skills that compound for life.

Below is a simple, two-part checklist:

• First, for you

• Then, for your kids, in age-appropriate ways

No shame. No perfection. Just clarity and intention.

Part 1: Your Year-End Money Checklist (For Adults)

Think of this as a financial reset, not a report card. The goal isn’t judgment — it’s awareness.

1. Review the Big Picture (Before You Touch Details)

Start with the 30,000-foot view:

• What accounts do you have? (checking, savings, investments, retirement, credit cards)

• What approximate percentage of your gross income did you save? Invest? Spend? Donate?
• Did you meet your goals for the year for account contributions? Or did something block your progress toward those goals?
• What is your current net worth WITHOUT your home equity included? What about WITH your home equity included?
• If you currently carry debt, what are the current balances and how much did you move the needle this year on paying it down?

• What feels calm and working?

• What feels messy, confusing, or ignored?

You don’t need to fix everything today — just name it.

💡 Prompt:
“What money systems felt supportive this year? Which ones caused stress?”

2. Audit Your Spending Patterns (Without Shame)

Look at the last 3–6 months of spending:

• What categories consistently went over?

• What did you spend more on than you realized?

• What brought real value — and what didn’t?

• If you were required to cut 20% of your spending, which items would get cut or scaled back first?
• If you found yourself with 20% more money next year, where would you put that money that would best align to your values and goals?

This isn’t about cutting joy. It’s about aligning spending with what actually mattered.

💡 Prompt:
“Did my money reflect my values this year?”

3. Clean Up Financial Clutter

Year-end is the perfect time to simplify:

• Cancel unused subscriptions

• Close accounts you no longer need

• Consolidate logins, passwords, and documents

• Update year-end trackers (like a net worth tracker or budget document)

• Update beneficiaries on accounts (huge and often forgotten)

Less clutter = less cognitive load.

4. Check Your Safety Nets

Ask yourself:

• Do we have an emergency fund? If so, how many months does it cover?

• Are insurance policies (health, home, auto, life) still appropriate?

• Has anything major changed this year that affects coverage?

You’re not planning for worst-case scenarios — you’re buying peace of mind.

5. Reflect Before You Set New Goals

Before jumping into resolutions:

• What financial wins can you celebrate?

• What lessons did this year teach you?

• What do you want more of next year — not just less of?

💡 Prompt:
“Next year, I want my money to help me feel more ______.”

Only then should you set 1–3 clear, realistic goals for the year ahead. If you have a partner that you work toward financial goals with, this conversation is best had together.

Part 2: The Year-End Money Checklist for Your Kids

This doesn’t need to be long or formal.
In fact, it works best when it feels conversational, calm, and reflective.

1. Look Back Together (Age-Appropriate Reflection)

For younger kids, keep it simple:

• “What did you like spending your money on this year?”

• “What was something you saved for that felt exciting?”

For older kids and teens:

• “What money decision are you proud of?”

• “Was there anything you’d do differently next time?”

The goal isn’t critique — it’s awareness.

2. Celebrate Progress (Not Just Outcomes)

Highlight effort, not just results:

• Saving consistently

• Waiting before spending

• Tracking money

• Asking thoughtful questions

This reinforces that money skills are built — not innate.

💡 Try saying:
“I noticed how patient you were saving for that. That’s a skill adults use too.”

3. Review Their Money System

Depending on age, look at:

• Jars or accounts (spend/save/share/invest)

• What worked well?

• What felt confusing or annoying?

• How much did they spend? Save? Share? Invest?
• Would they like to adjust the percentages they are currently spending, saving, investing, or sharing? If so, how will they approach this?

Let them help adjust the system. Ownership builds confidence.

4. Name a Few Simple Goals for the New Year

Keep goals developmentally appropriate:

• Younger kids: one short-term saving goal

• Older kids: a mix of spending, saving, giving, or investing goals

• Teens: goals tied to independence (car, college, travel, investing)

💡 Ask:
“What do you want your money to help you do next year?”

5. Set the Tone for the Year Ahead

End with reassurance:

• Money is a tool

• Mistakes are part of learning

• You’ll keep talking about it together

This is how kids learn that money isn’t something to fear or avoid — it’s something they can manage with confidence.

The Bigger Picture

Year-end money checklists aren’t just about numbers.
They’re about resetting habits, reinforcing values, and building confidence — for you and your kids.

When reflection becomes routine, money stops feeling reactive.
And when kids grow up seeing that process modeled calmly, they don’t just learn what to do with money — they learn how to think about it.

If you want step-by-step guidance, age-by-age scripts, and ready-to-use tools to make this kind of money reflection easy all year long, explore our Raising Little Millionaires online course suite and toolkits.

They’re designed to meet your real life — and grow right alongside your kids.