AS we approach the end of another year, many of us are left reflecting on the goals we set and the progress we’ve made. The reality, however, is that life rarely unfolds according to our plans, especially when it comes to personal finance. Perhaps you started the year with ambitious goals — to save more, invest in your future or finally pay off those lingering debts. Yet, as 2024 draws to a close, you might be feeling a mix of pride in what you’ve achieved and disappointment in what remains unfinished. But here’s the truth: there’s still time to turn things around, and more importantly, there’s time to end the year feeling strong, proud and financially secure.
To finish 2024 with a sense of accomplishment, it’s essential to first take stock of where you are right now. This isn’t the time to shy away from the hard truths. Take a good, honest look at your current financial situation. How much debt do you still carry? What’s your savings account looking like? Have you made progress toward your retirement or investment goals? This moment of self-reflection can be painful, especially if the numbers don’t align with the hopes you had at the start of the year. But it’s also empowering. By facing your financial reality, you’re taking the first step toward making the most of the remaining months.
Once you’ve taken a hard look at where you stand, it’s time to shift your mindset. Financial progress isn’t about perfection; it’s about consistency. It’s easy to fall into the trap of thinking, “Well, I’ve already missed my targets for the year, so why bother?” This mindset is dangerous because it allows you to settle for mediocrity. Instead, remind yourself that financial success is not defined by a single year, but by the steps you take over time. Even if you’re not where you wanted to be by the end of 2024, what matters most is how you choose to finish this year and what foundation you’re laying for the next.
Next, focus on what’s within your control. You might not be able to turn your financial situation around overnight, but you can make deliberate, intentional choices that will set you up for success. If debt has been your biggest struggle this year, prioritize paying off one loan or credit card by the year’s end. Don’t worry about the bigger picture — just focus on one thing you can control. Every payment you make, no matter how small, brings you closer to financial freedom. And when you finally send that last payment for a specific debt, the feeling of relief and accomplishment will be worth every sacrifice.
Saving might also feel like an uphill battle, especially if you’ve faced unexpected expenses this year. But here’s the key: saving is not about how much you can put away, it’s about the habit you build around it. Set a realistic savings goal for the next three months and automate that process. Even if it’s just a small portion of your income, the act of saving regularly will give you a sense of control and progress. Ending the year with a cushion of savings, no matter how modest, will empower you to step into 2025 with confidence.
For those who have dabbled in investing but feel discouraged by market fluctuations, remember that investing is a long game. You might not have seen the returns you hoped for in 2024, but that doesn’t mean your efforts have been in vain. The key to strong investments is time and patience. Review your portfolio, reassess your risk tolerance and perhaps make small adjustments. But don’t panic or pull out of the market due to short-term losses. Instead, remind yourself why you started investing in the first place: to secure your financial future. By staying the course, you’ll be positioning yourself for potential growth in the years ahead.
Let’s not forget the importance of budgeting as we near the end of the year. It’s easy to let the holidays and year-end festivities derail your financial progress, but this is where discipline comes into play. Revisit your budget and decide, in advance, what you’re willing to spend on gifts, travel and celebrations. Overspending during the holidays can set you back significantly, making it harder to feel proud of your year-end financial standing. However, by sticking to a realistic budget, you’ll not only save money but also feel a sense of control and accomplishment, even while enjoying the season.
As you reflect on 2024, it’s essential to acknowledge that personal finance is deeply tied to emotion. Many of our spending habits are driven by feelings — whether it’s stress, joy or the need for comfort. By recognizing this, you can take steps to become more mindful about how your emotions impact your financial decisions. Instead of spending impulsively to feel better, focus on making choices that align with your long-term goals. The satisfaction of ending the year with financial stability will far outweigh the temporary happiness of an unnecessary purchase.
Ending 2024 strong is not about achieving every financial goal you set at the start of the year. It’s about progress. It’s about making intentional choices that move you closer to the life you want to build. It’s about celebrating the small wins, like paying off a credit card, setting up an emergency fund or simply sticking to a budget. And it’s about entering the new year with a renewed sense of purpose, knowing that you’ve done everything in your power to strengthen your financial position.
So, as you move through these last months, keep this in mind: you are in control of your financial story. The narrative doesn’t end here, and every decision you make today will shape the opportunities you have tomorrow. By focusing on what you can control, embracing consistency and celebrating your progress, you will not only end 2024 feeling proud but also set yourself up for an even stronger 2025. Take a deep breath, assess where you are and know that it’s never too late to finish the year with a sense of accomplishment.
Christopher Cervantes is a Registered Financial Planner of RFP Philippines. He is the author of the best-selling books Financial Planning for the Fast-changing World, Life Begins, and The Seed Money. To learn more about personal financial planning, attend the Chris’ Cervantes webinar: “Financial Planning for the Fast Changing World.” Register on this link: https://cardinalbuoy.com/seminars/
