Taken all together, these steps might seem overwhelming. But if you do one task each day, you can really change your financial life by year-end.

Is it too late in the year to get your finances ironed out?

Fortunately, a recent article from kjrh.com, titled “7 financial steps to take before New Year's Eve,” will help.

Here are a few of those key steps to consider:

Wait! Didn’t 2014 just start?

Nope. It's true, the year is just about over. But you can still make a big impact on your financial future before ringing in the New Year.

Make a plan to get out of debt. Ok, you probably can’t get out of debt between now and New Year’s. However, you can get set up to be debt-free very soon. The original article says that the first step is to watch your spending over the holidays, but don’t overdo it. It only makes it more difficult. Next, create a system to eliminate debt by first consolidating and refinancing to the lowest possible interest rate. Once you do that, “bust a move” to pay off the highest cost debt and make minimum payments towards your other credit card balances.

Track your spending. Even if you aren’t in debt, it’s very important to figure where and how much you spend on a monthly basis. Once you know this, you can see if you’re spending wisely or if you need to make some course corrections. The neat thing about tracking your spending before New Year’s is that you get into the routine of your system—plus if you are using a spreadsheet or accounting software, you’ll also simplify your tax reporting, especially if you do your own taxes.

Review your estate plan. Typically things slow down at work during the holidays, which allows you a little time to get to items you may have been putting off, like estate planning. It’s a favorite of procrastinators! Find an experienced estate planning attorney and get started.

Don’t take chances. Read the original article and learn more about these steps and others. Just don’t wait until “after the holidays”!

For additional information about estate planning and elder law topics in Houston, please click here to visit my website.