Outlook Money
Year-end is the perfect moment to reset your financial life. A quick money clean-up reduces mental clutter, reveals spending patterns, and helps you enter 2026 with clarity and confidence.
Collect the last 12 months of bank, loan, investment and insurance statements. List everything you own and owe to calculate net worth and get a clear, honest view of your finances.
Most people pay for many subscriptions they barely use. Review recent statements, track recurring charges, and cancel anything unused for 60 days to instantly free up cash.
Too many accounts create confusion. Close redundant bank accounts and cards, merge PF accounts, and simplify mutual funds while keeping tax impact in mind for easier money management.
List all loans from highest to lowest interest. Avoid random repayments. Understand amortisation, prioritise costly debt, and explore consolidation options if multiple high-interest loans exist.
Use December wisely to optimise taxes. Maximise EPF and NPS benefits, harvest losses where suitable, and organise tax documents early to avoid last-minute stress during filing season.
Delete unused finance apps, automate bill payments and investments, schedule SIPs early each month, set reminders for EMIs and premiums, and stick to one budgeting tool you trust.
After the detox, set three simple goals for 2026: a clear debt reduction target, monthly savings or SIP amount, and key upgrades, such as insurance or emergency funds.