Your January Financial Playbook

Welcome to 2025! It’s a brand-new year, full of possibilities, resolutions, and the annual awkward attempt to pronounce quinoa correctly at least once. At GamePlan, we’re here to make sure your financial goals for the year aren’t just well-intentioned thoughts scribbled in a notebook—they’re plans you can actually tackle.

Starting the year with a solid financial checklist is like warming up before a workout—it might feel unnecessary at first, but it’ll save you from painful mistakes later. And no, we’re not going to hand you a 20-step marathon of tasks. These five steps are like financial sprints: doable in 20 minutes or less.

1. Reassess Your Financial Goals

Your goals are the compass for your financial journey. But let’s be real—life happens. Priorities change, and that dream trip to Bali might now take a back seat to fixing your car. So, grab a cup of coffee (or wine, we’re not judging), and ask yourself:

• Short-term goals: Paying off that post-holiday credit card bill? Saving for a summer getaway? Building an emergency fund for when the universe inevitably throws you a curveball?

• Long-term goals: Think big—retirement, buying a home, or investing in education (or maybe that Tesla you’ve been eyeing).

Pro tip: Life throws curveballs. Adjust goals if you’ve switched jobs, had a baby, or suddenly discovered you have a talent for day trading (with mixed results). If this feels overwhelming, try calculating your net worth. It’s like stepping on the financial scale—it might surprise you, but it gives you a clear starting point.

2. Give Your Budget a Reality Check

Budgeting: the kale of financial tasks. It’s not glamorous, but it’s good for you. Start by revisiting the basics:

• Income: Did you score a raise or start a side hustle that’s finally more than just a “passion project”?

• Fixed vs. variable expenses: What’s eating your money? Rent and utilities are non-negotiable, but if your takeout budget rivals your rent, it’s time for a tweak.

• Savings goals: Can you nudge up your retirement contributions? Even 1% more today can mean future you retires somewhere with palm trees.

Shortcut: Many credit card apps break down your spending for you. You might cringe at how much you spent on coffee last year, but hey, now you know!

3. Review Your Risk Tolerance (aka, Know Your Limits)

Investing is exciting—until it isn’t. Take a moment to revisit your risk tolerance:

• Age matters: The closer you are to retirement, the less you’ll want to bet it all on the next big crypto.

• Goals dictate risk: Saving for a house next year? Go conservative. Playing the long game for retirement? Take a little more risk.

• Financial wiggle room: If your savings are solid and your income stable, you might take on more risk. If you’re juggling debt, stick to safer waters.

If last year’s market swings kept you awake at night, it might be time to dial back your portfolio’s adrenaline level.

4. Balance That Portfolio Like a Pro

Your portfolio is like a plate of nachos: too much of one topping, and it’s a mess. Time to rebalance:

• Rebalance regularly: Your investments shift over time, and suddenly, you’re way overexposed to tech stocks. Bring things back to equilibrium.

• Diversify wisely: Spread the love—different sectors, regions, and asset types. No one likes a one-trick pony.

• Check returns vs. risk: If you’re taking on wild swings for meh returns, it’s time to rethink your strategy.

5. Update Your Beneficiaries (Seriously, Do This)

You’d be surprised how many people forget this one. If you’ve had a major life change (marriage, kids, or finally adopting that dog), make sure your life insurance and 401(k) beneficiaries reflect your current priorities. Otherwise, your assets could end up somewhere unexpected—and not in the good way.

Final Thoughts

2025 is your year to shine—financially, at least. We’ll be here every month with more bite-sized challenges to keep you on track. Because let’s face it, managing money doesn’t have to feel like rocket science—or a root canal. Let’s make it happen. Cheers to a year of smart moves and fewer financial regrets!