How to Finish The Year With Money In The Bank (PLUS Understanding The Upcoming Tax Changes!)

by Belinda Rosenblum

We are in the home stretch, but don’t throw in the towel quite yet!

A few quick final notes of the year for you:

A – Concerned about the impact of the newly passed U.S. Income Tax “Reform”?Screen Shot 2017-12-22 at 3.20.43 PM

Check out this helpful article outlining the changes, and a more detailed article here, and then contact your trusted tax preparer to address your specific situation. Ask if there are any actions to consider taking now before year-end, especially as some deductions are changing, like this video outlines. At a minimum, talk about it when you are preparing your 2017 returns to reduce surprises down the line.

B – Do this quick 3-step exercise before year-end. Last night on our Money Makers Academy group call, the members got excited celebrating their wins for the year and looking forward to 2018. Amy paid off $20,000 in debt in just 6 months and Melissa asked for $10,000 more from her new job offer – and got it. What do you want to celebrate?

(Not in the Academy yet and want these wins for yourself too? Be sure to get on the wait list now so you are the first to know when we reopen the doors in 2018.)

These exercises will help you to stay positive and head confidently into the new year:

(1) Take a few moments now to reflect on your 2017 year. What are you super proud of yourself for? What can you celebrate as you wrap up the year?

(2) Finish the year strong. There are still a few more days to take action. Instead of being so busy with the holidays that it is all a blur until January, choose ONE thing you would feel GREAT about completing.

Hint: What have you been meaning to do but never quite got around to it? Prioritize any items that can add money to your bank account or create savings in 2018. Perhaps calling your phone company, mortgage company, or your bank to get some fees waived? Sorting one nagging pile of mail? Depositing any checks or collecting old unpaid invoices / loans due to you? Whatever that one thing is, do it before 12/31/17.

(3) Look ahead to 2018 and choose one new positive habit. Without overwhelming yourself with a slew of new year’s resolutions (most of which you will naturally not follow through on), determine ONE new practice or habit – just ONE – that you can add to your regular routine to help you better manage your money and increase your confidence with it.

For example, can you check your bank account daily? Track your money? Listen or read something educating you on money? Then for the one item you chose, take one (small) action to set yourself up for success, such as loading your banking app or the podcast app onto your phone so you’ll be ready to go on January 1st. Better yet, get started now!

Hit reply or comment below – let’s celebrate you and declare your 2018 intention.

C – Wondering what money habits you can put into place now – that will help you start the new year off on the right foot? Check out my latest tips (habits 5, 6, 7, and 8!) featured on Entrepreneur.com and choose from these 15 powerful money habits.

Earlier this month, Diane Von Furstenberg shared with me, “When you doubt your power, you give power to your doubts.” #DVFVOICES

No more doubting your own power.

2018 can be your year to reclaim your power over your money, so you can #fundYOURfun AND #fundYOURsavings.

From our family to yours…

Happy holidays – see you in 2018!

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