Most of us start the year all revved up to go with all sorts of plans and resolutions. But the truth is, the best of intentions can get stuck in neutral because they’re overwhelming. Instead of getting bogged in the mire of procrastination and confusion, here is a the way to go for a manageable financial to-do list.

1. First up, set yourself up for success for the rest of the year by setting the right tone.  Decide how you will speak about money this year.  Many of us get confused and either speak with a mindset of lack or lux.  The former uses words like “I can’t afford it”, “I’m poor”, whilst the latter uses ideas like “if I act rich, I will become rich”.  Both of these are flawed, but the right selection of words such as focus, clarity, purpose, can help tune your mind for better opportunities.
2. Build a team you trust – Surround yourself with advisers and experts who fill the gaps in your knowledge and help keep your decisions smart.
3. Understand the past.  Review last year without judgement, understand where you stand. List all accounts, debts, expenses, subscriptions. Do you need to refresh your budget? Name three money stress triggers.  You cannot change what you avoid and stress drops when facts replace stories.
4. Outline the big picture.  Create a financial mission statement – one or two sentences and put it some place where you can refer to it often. Include your family in your financial mission statement to give it more meaning and purpose.
5. Get intentional about your plan – Start your year by actually writing down what you want to achieve with your wealth instead of hoping things just happen.
6. Get practical about future savings and spending.  Set up automatic transfers so savings leave your account the moment your paycheck hits. Establish “sinking funds,” savings buckets for known future expenses like travel or holiday gifts.
7. Declutter your banking system. Review savings and credit accounts. Evaluate whether your emergency fund is under- or over-funded. Confirm that each account has a clear purpose and that direct deposits and transfers still make sense. Modern banking convenience often leads to unnecessary complexity.
8. Update your documents. Review “set-it-and-forget-it” items. Estate planning documents and insurance policies (life, disability, property, liability, etc.) are easy to neglect.  Ask yourself:Has your family structure changed?
   Have your children reached adulthood?
   Has your income shifted?
   Has your health changed?
   Have you taken on new assets or responsibilities?
   If the answer to any of these is yes, updates are likely needed.
9. Look at the details most people avoid – Things like power of attorney, guardianship and how superannuation passes on can make a massive difference to how your wealth is preserved for the next generation.
10. Make adjustments.  Reviewing what’s working and what’s not, will help you stay aligned. Adjust where needed, without overcorrecting. Check in with savings goals to be sure you are on track.
11. Get critical.  Make changes to your budget if needed. Notice what is challenging you to stick to your budget. Why is this the case? How can you resolve it? How can you utilize what is working to overcome the challenging aspects?
12. Do and End-of-Year Evaluation.  Reflect, reset, and prepare. This is about reflection, not perfection. Evaluate your progress, celebrate your wins, and recognize where things didn’t go as you thought.  Write it all down to prepare for the next year.