5 Money Questions to Ask Before the New Year

The following article is by Kim Potgieter, Certified Financial Planner, author and coach; who gives us some valuable insight into money management strategies that can not only provide South Africans with independence but also help one thrive in the financial world:

“Don’t leave your life to chance – you’ll end up living a life someone else plans for you.” 

That’s the reminder I return to every December – for myself, and for every client I work with.

The end of the year has a way of softening the noise. As meetings slow down and the pace lets up, we’re given a rare and precious window to pause, reflect, and recalibrate. December is not only about closing the chapter on another year – it’s also about asking yourself if you’re still writing the life story you want to live.

So before you set new goals or think about resolutions, ask yourself these five questions:

1. Is my money still aligned with the life I want to live?

It’s easy to set financial goals and then forget to check if they still reflect who you are becoming. Life planning begins with understanding what matters most – your values, goals, and dreams – and then aligning your money to support that vision.

You may have moved through transitions like an empty nest, divorce, or the loss of a loved one. Perhaps your relationship has shifted, or you’re entering a new chapter in your work or retirement. As life changes, your dreams change too. The financial plan that made sense ten years ago may not fit the life you’re designing today.

Before the new year begins, ask:

• What does a meaningful life look like to me now?
• Have my values or dreams evolved?
• Are my financial decisions aligned with what brings me joy – like travel, time with family, giving back, or personal growth?

Money is a tool to support a meaningful life – not the other way around. And the best financial plans start with life goals. When you’re clear on what you’re working towards, your money has intention. Revisit your bigger picture before you fine-tune the numbers.

2. Am I paying attention to the money habits shaping my life?

Every financial plan rests on your habits – and most of our habits are unconscious. December is a powerful time to press pause and reflect on whether your day-to-day money decisions support the life you want to live.

A financial check-in helps you see what’s working, what needs adjusting, and which habits may be sabotaging your life plans without you even realising it.

Reflection on these questions:

• Do you know where your money went this year – and does it match your priorities?
• Are there recurring expenses that no longer serve the life you’re building? 
• Have you reviewed the basics – budget, insurance, emergency fund, and investments – in the last 12 months?
• Are there any money conversations that you’ve been avoiding? 
• Have emotional triggers – stress, guilt, loneliness – influenced your spending or saving. 

The truth is, if you pay attention to your money, your money will take care of you.

3. Am I prepared for the ‘what ifs’?

None of us likes to think about death, divorce, retrenchment, or illness – but these life events don’t wait for a convenient time. They can unravel the best-laid plans, especially when couples haven’t planned together or shared financial information openly.

In planning meetings, I often ask couples:

“If something happened tomorrow, would you both be okay financially?”

“Do you know what you own, where it is, and how to access it?”

If the answer is no, make this the year you prioritise these conversations. Update your will, review your estate plan, and ensure your documents and passwords are easy to find. Have a money conversation with your spouse or adult children so everyone understands the plan. And if you’re single, the same applies. Preparation is a gift to yourself and the people you love.

4. Have I factored in longevity?

We are living longer than ever before – many of us well into our 90s or even 100s. Yet most retirement plans still assume we’ll stop working and contributing by 80. Planning for a longer life isn’t only about making your money last – it’s about making your life last.

The idea of retirement is outdated. Most of us will work longer, not because we have to, but because purpose, contribution, and connection are essential to well-being. So if you’re in your 50s or 60s, it may be time to rethink the word retirement altogether and start asking different questions:

• What will give you meaning, connection, and purpose in the years ahead?
• What kind of work or contribution do you see yourself making in your 70s and even 80s?
• Can you start designing that chapter now – upskilling, exploring a side-hustle, or building a portfolio career? 

Planning ahead is empowering. You don’t want to feel retired from something; you want to feel like you’re moving towards something.

5. What do I want more of – and what do I need to let go of?

December invites us to take stock – not just financially, but emotionally too.

What habits, mindsets, or beliefs are you ready to leave behind? What “shoulds” are still driving your decisions?

And equally: What brings you joy? What fills your cup? Where do you want to spend more time, money, and energy?

When you take time to answer these questions honestly, you give yourself the best possible foundation to enter the new year feeling intentional.

You don’t have to overhaul your life. But you do owe it to yourself to pause long enough to ask: Is this still the life I want to live? Every money decision is ultimately a life decision — one that shapes who you become and the chapter you step into next.

Kim Potgieter is a Certified Financial Planner, author, and coach. For more information, visit the Chartered Wealth website.