80. 5 financial steps to take to powerfully wrap up the year and prepare for a prosperous new year

Plenty with Kate Northrup

Kate Northrup

Personalfinance, Self-improvement, Entrepreneurship, Nervoussystemhealing, Education, Womensempowerment, Wellness, Pleasure, Metaphysics, Spirituality, Abundance, Embodiment, Productivity, Timemanagement, Business

4.8 • 697 Ratings

🗓️ 29 November 2024

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are you ready to wrap up the year with intention and step into a more abundant financial reality? In this episode, I’ll walk you through simple, actionable steps to help you feel clear, empowered, and aligned with your money as you prepare for a thriving new year.

In this solo episode of The Plenty Podcast, I’m sharing the five key financial steps I personally use to close out the year with clarity and ease. Together, we’ll explore how to do a financial wrap-up that doesn’t just focus on the numbers but also honors your relationship with money on a deeper level.

I’ll guide you through practical strategies like reviewing your finances, preparing for tax season, making intentional spending decisions, and setting meaningful goals that reflect who you’re becoming. Along the way, I’ll also share insights on how shifting your identity can unlock even greater abundance and alignment.

Let’s make this year-end process a powerful foundation for your thriving future—I can’t wait for you to dive in!

“Ask yourself, who do I need to be in order for this goal to become my reality?” -Kate Northrup

🎤 Let’s Dive into the Good Stuff on Plenty 🎤

(00:00) Introduction to Financial Awareness
(00:42) Year-End Financial Planning
(01:26) Quantitative Financial Wrap Up
(04:28) Qualitative Financial Assessment
(05:06) Tax Planning and CPA Meetings
(07:36) Strategic Spending for Tax Benefits
(15:36) Identity Shifts for Achieving Goals
(16:07) Summary of Year-End Financial Steps
(17:08) Conclusion and Call to Action

As we approach the end of another year, I invite you to embrace a more spacious, abundant way of being. Instead of getting swept up in the seasonal hustle, let’s slow down, savor each moment, and focus on what truly matters.

Imagine setting the stage for a thriving, prosperous 2025 by bringing intention and ease into how you close out this year. By joining the Relaxed Money Wait List, you’ll get a head start on this transformation. While the next live cohort opens in Spring 2025, signing up now unlocks exclusive end-of-year gifts, bonuses, and hand-selected treats just for early members.

This is your opportunity to welcome abundance and peace into your financial life. Join me on this journey toward a more relaxed, prosperous relationship with money. Visit relaxedmoney.com/plenty to add your name to the waitlist and begin experiencing the magic of a relaxed approach to money today.

Transcript

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0:00.0	entrepreneurs very, very, very frequently make the mistake of focusing on top line revenue instead of profit.
0:07.1	And top line revenue literally means nothing because sometimes a business has $500,000 in revenue, but spends $600,000 and is in the whole $100,000.
0:17.9	So top line revenue, quite frankly, doesn't really matter.
0:20.6	It's far more important
0:21.8	that you have profit. Welcome to Plenty. I'm your host, Kate Northrop, and together we are going
0:29.3	on a journey to help you have an incredible relationship with money, time, and energy, and to have abundance on every possible level.
0:41.4	Every week, we're going to dive in with experts and insights to help you unlock a life
0:48.0	of plenty. Let's go fill our cups.
0:51.9	The end of the year is nearly upon us and now is a time of, you know,
0:58.5	possibly holiday cards, holiday baking, gift buying, wrapping, wrapping, travel, family,
1:06.6	all that stuff. However, it also needs to be a time of financial consciousness because there are
1:13.9	five things that you can do before the end of the year that will set you up to save money
1:21.4	and have a more prosperous new year. And some of these things cannot be done after December 31st. So I want you to
1:29.8	listen in and listen up. Here are the five things that we do every year before we wrap up the year,
1:36.0	and I want to pass them along to you, because some of these things I learned the hard way.
1:41.0	All right. So number one is part of our annual planning ritual is that we do a
1:48.2	financial wrap-up. So this is parts one and two. The financial wrap-up has two parts. One of them
1:55.7	is quantitative. So there are a few numbers that I recommend you total up at the end of the year.
2:03.4	Now, some of these you won't exactly know until January because, you know, your numbers
2:07.4	from your bookkeeper may not come in and everything, but you can get a ballpark.
2:10.5	So those are your income.
2:13.5	So personally, right, it would be your income.
	...

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