5 FINANCIAL MOVES TO MAKE BEFORE 2025

Don't drop the ball ahead of the ball drop!

- MAGDALENA PUNIEWSKA

HOLIDAY BUDGETING may be getting all the air time right now, but this is also a good moment to do a little end-of-year financial housekeeping. "By December, you have the benefit of seeing how everything hashed out for you over the year and where you can make cuts or bump up savings," says Linda Rogers, a certified financial planner and the founder of Planning Within Reach in San Diego. "Plus, a lot of financial tasks have strict end-of-year deadlines, and you'll want to make those because you won't get a do-over." So grab a pocket of time here and there to find savings, get things buttoned up, and take advantage of perks before they expire at the stroke of midnight.

Check Your Interest Rates

Look up what you're earning on your savings accounts because you could be missing out on free money. "I'm still surprised at how many people are only earning 0.01% on their balance," Rogers says, adding that some banks currently offer 4% to 5%. (You can compare the going rates at various institutions at bankrate.​com.) Switch to a more competitive high-yield account if you don't already have one.

Don't stop there-check your lines of credit too. "Many debts, including credit cards, have variable interest rates, so if you haven't seen your numbers in a while, they might not be what you remember," says Kylie Lipinski, a financial trainer at the Financial Gym in Washington, D.C. Credit card companies can adjust their annual percentage rates with 45 days' notice, and APRS may spike after an introductory offer ends or if you're two months late on payments.