Review and Update Your Budget
Evaluate Investment Portfolio
Assess Your Debt Situation
Maximize Tax & Cukupkan Zakat
Check Your Emergency Fund and Insurance Coverage
Review and Update Your Budget
Examine your spending over the past year to identify trends and areas for improvement.
Compare your actual spending against your budgeted amounts to see where you may have overspent or underspent.
Update your budget for 2024 based on changes in income, expenses, and financial goals.
Evaluate Investment Portfolio
Review the performance of your investment portfolio over the past year.
Consider rebalancing your portfolio to align with your risk tolerance and long-term goals.
Assess the fees associated with your investments and explore lower-cost options if necessary.
Assess Your Debt Situation
Summarize your outstanding debts, including credit cards, loans, and mortgages.
Evaluate the interest rates on each debt and prioritize paying off high-interest debts.
Consider refinancing options for loans or mortgages to secure better terms.
Set a plan for debt repayment in the coming year.
Maximize Tax & Cukupkan Zakat
Review your current tax situation and identify potential deductions or credits.
Zakat payers will receive 100% tax rebates from LHDN.
Consider consulting with a tax professional to optimize your tax strategy.
Check Your Emergency Fund and Insurance Coverage
Check the amount of emergency fund needed based on your current living expenses.
Review and update your insurance coverage, including life, health, auto, and home insurance.
Ensure that your beneficiaries on insurance policies and financial accounts are up-to-date.
Evaluate the need for additional insurance coverage or adjustments to existing policies.
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