I. General Planning

Topic: Cash Flow Management. Why budget?

Summary: Budgeting is a powerful financial tool that puts you in control of your money, helping you reduce wasteful spending, manage bills, pay off debt, save for what truly matters, and prepare for the unexpected.

More than just numbers, a budget is a reflection of your values and goals—it’s how you tell your money where to go instead of wondering where it went.

Five Simple Steps to Create and Use a Budget

1. Estimate your monthly income
   List all income sources conservatively to get a reliable picture of what’s coming in.

2. Identify and estimate your monthly expenses
   Break down fixed and variable expenses, including annual ones, to understand your spending patterns.

3. Compare income and expenses, and align with your goals
   Use any surplus to fund savings or investment goals—or adjust if you’re in deficit.

4. Track your spending and evaluate monthly
   Monitor your actual spending versus planned, then refine your budget as needed.

5. Stick with it and make budgeting a habit
   Create systems that work for you, automate your savings, and adjust as your life evolves.

 Use this FREE Nerdwallet Budget Template to get started today! Consider investing in an online tool like Monarch Money to save you time, our most precious asset.

II. Investment Planning

Topic: 5 Questions to Ask Before You Invest

Summary: Before investing your money, it’s vital to take a step back and ask key questions to protect yourself and make informed decisions.

The U.S. Securities and Exchange Commission (SEC) recommends five foundational questions to guide every investor—whether you're just starting or already on your journey. These questions serve as a compass to help you navigate the risks, responsibilities, and realities of investing:

1. Is the person offering the investment licensed?

2. Is the investment registered with the SEC or my state regulator?

3. What are the risks compared to the potential rewards?

4. Do I understand how this investment works?

5. Where can I turn for help if something goes wrong?

 Read the full article here.

III. Estate Planning

Topic: What it is and why is it Important?

Summary: Estate planning is the process of documenting your healthcare wishes, asset distribution, and decision-making authority so your preferences are honored if you become incapacitated or pass away (freewill.com). It empowers you to:

• Define who will manage your affairs if you can’t, through powers of attorney and healthcare directives in the event of mental or physical disability.

• Specify how your assets are distributed, via wills, trusts, and beneficiary designations.

• Minimize the time, cost, and conflict of probate through tools like revocable living trusts.

• Plan effectively for loved ones, including children, special‑needs family members, and charitable intentions.

• Adapt to life changes such as new assets, relationships, or health events over time.

Download this Estate Planning Checklist from FreeWill.com and schedule time to complete it.

IV. Tax Planning

Topic: When to Check Your W4 Tax Withholdings
Summary:
According to the IRS website you should check your tax withholding every year, especially:

When you have a major life change:

• New job or other paid work

• Major income change

• Marriage

• Child birth or adoption

• Home purchase

OR if you changed your tax withholding mid-year

• Check your tax withholding at year-end, and adjust as needed with a new W-4

If you have more questions about your withholding, ask your employer or tax advisor.

 Use this tax withholding estimator to help you make your decision

Watch this video for a step-by-step guide on how to fill out a W-4 form.

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Special edition… it’s Cristina’s birthday month!

Year-end tax and gift planning special edition.