The End-of-Year Money Checklist Every Middle-Class Family Should Do, According to a Financial Planner

Core Insights - The end of the year presents financial challenges and opportunities for middle-class families, necessitating a structured approach to financial management [1] Financial Checklist - Utilizing a checklist can help families organize their financial affairs as they transition into the new year, similar to how they manage other household tasks [2] - Financial planner Connor Bauserman emphasizes the importance of having a clear plan to avoid overspending during the holiday season [4] Holiday Spending Analysis - The average family spends approximately $1,600 during the holidays, which can lead to financial strain if not managed properly [5] - Bauserman suggests that families should review their December spending and create a savings plan for the next holiday season, recommending a monthly saving of about $134 to alleviate financial stress [5] Automation of Finances - Automating finances, particularly savings and investments, is recommended as a year-end upgrade to prioritize saving over spending [6] - Automatic transfers to savings accounts or investment accounts can help families work towards their financial goals without constant active management [6]