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    End-of-Year Budgeting Themes

    By Wasatch Peaks on December 15, 2018

    Topics: Budgeting

    When it comes to budgeting areas, the pros at Wasatch Peaks Credit Union are here to help all our members. Whether you’re looking for better tools to save smart or thinking about opening a checking account with several major perks, we’re on hand to assist you.

    These services are important the full year-round, of course, but they take on a little added relevance as we near the end of a calendar year. Let’s go over a few things financial and budgeting areas you should be keeping at the front of your mind as we head into the final couple months of 2018.

    Holiday Planning

    Many people have already begun this, but if you haven’t, now is the time to start thinking about holiday budgeting. Who do you need to buy gifts for, and what do you expect to spend? This may seem like a small budgeting area but before you know it these costs can add up quickly.

    Make lists when you can – don’t forget items like decorations, charitable donations, and holiday food. Also keep an eye out for any good deals on the kinds of gifts you’re looking for, from coupons to holiday sales both online and in-person.


    Your taxes aren’t due the moment the calendar turns to 2019, but we recommend getting an early start on them whenever possible. Take the time to collect all your pertinent 2018 tax information now – this will be easier while it’s fresh in your mind than doing it in March when you haven’t even thought about any of it for months.

    In addition, if you’ve had any major events during the year, such as divorce or a major job change, you may want to consider adjusting your tax withholding. Ask our experts if you might be right for this kind of adjustment given your situation. 

    Retirement Contributions

    If you work for a business that matches your contributions to a retirement or savings fund, the end of the year is a good time to check on this situation. Many businesses have maximum contribution amounts for a given year – are you on track to reach these? If not, you might consider donating a bit more and prioritizing this area. Our pros can assist with any areas of retirement planning you’re wondering about.

    Setting Goals

    The end of the calendar year is also a great time to look back at how things went, plus look forward at some financial goals you have for next year. Identify your shortcomings or areas where you think you can improve, then set specific benchmarks in these areas you’re looking to achieve.

    For more on some end-of-year financial areas to consider, or to learn about any of our home loans, car loans or even small business loans among our numerous services, speak to the staff at Wasatch Peaks Credit Union today.

    Wasatch Peaks

    Written by Wasatch Peaks