As 2025 comes to a close, it’s the perfect time to take a closer look at your finances. Reviewing spending patterns, checking on your savings progress, and setting new goals now can help you start 2026 with confidence and a plan.
At Farmers State Bank of Yale, we’re here to help you take practical steps toward achieving your financial goals.
“You can’t know where you’re going if you don’t look at where you’ve been,” said Scott Stanley, President of Farmers State Bank. “Taking an honest look at your year financially will help you see what’s working well and what might need a little change heading into the new year.”
Your End-of-Year Financial Checklist
Before 2026 arrives, take a few moments to reflect and prepare:
1. Review your accounts.
Take time to look through your checking, savings, and loan accounts. Make sure your spending aligns with your goals and that you’re aware of any outstanding debt or recurring payments.
2. Analyze spending habits.
Think about where your money went this year. Did you overspend in certain areas, like dining out or online shopping? Setting a realistic budget for these expenses can make a big difference next year.
3. Evaluate savings and investments.
Check your progress toward savings goals and make sure you’re setting aside enough for the future. If possible, consider increasing contributions to your IRA or other savings accounts.
4. Prepare for tax season.
Stay organized by gathering documents such as paystubs, donation receipts, and deductible expense records now, so you’re ready when tax season arrives.
5. Set new goals for 2026.
Once you’ve reviewed where you stand, set realistic goals for the year ahead. Whether you’re saving for retirement, buying a home, or planning for college, having a plan in place helps you stay on track.
Building a relationship with your local banker can make a big difference. The team at Farmers State Bank of Yale is always here to answer questions, provide guidance, and help you work toward your financial milestones.
Learn More
For more information about reviewing your finances and planning for the next year, contact us at 641-439-2221 or yalebankiowa@yalebankiowa.com
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