For many of us back to school marks a fresh start milestone – similar to the New Year. There’s a flurry of organization in terms of new routines, registrations and shopping. I feel a bit like a squirrel with all the effort going into restocking our cupboards, fridge and freezer after a summer of coming and going. I have yet to do the clothing changeover and winter clothing and boot check but when I do, I imagine there will be some items to source. I think it has as much to do with the change in seasons as preparing for busy weeks and cold weather.

The point is that this is a perfect time of year to review your financial plan and work through your ‘to do’ checklist. With the end of the year comes some important deadlines and a little planning now will put you in great shape for 2015.

Here are some suggested to do’s:

• Review your 2014 year to date actual spending to your budget.
• Review expected income and expenses for the next couple months.
• What’s on your 2014 financial plan? Now is a great time to do RESP and RSP contributions as the RESP contribution deadline is December 31^st, you’ll avoid the RSP line ups and probably have better cash flow now compared to the holiday season. Most extra debt repayments have upper limits by calendar year – do what you can now, leaving yourself lots of room for 2015.
• Review your benefits coverage. Have there been any changes?
• Set a holiday budget for the upcoming season and a plan to save for it.
• What 2014 targets are you likely to miss and what would you like to achieve in 2015?