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00:00With 2025 just around the corner, now's the perfect time to get your finances in order.
00:06Here are five essential tasks to tackle before the new year to keep your budget in check and start 2025 off right.
00:13First, review your budget. Inflation's been hitting hard, so check your spending against rising costs for things like groceries and energy.
00:21Adjust your budget to reflect what's realistic going forward.
00:24Next, consider topping up your ISA before April to make the most of your tax reallowance.
00:29This is a great way to protect your savings from tax, especially if you're saving for the long term.
00:35Take a moment to review your insurance policies. Whether it's home, health or life insurance, make sure your coverage is still a good fit, especially if you've had any big changes this year.
00:45With Christmas on the way, set a holiday budget to avoid overspending.
00:49From gifts to festive dinners, planning ahead can help you avoid starting the new year with unwanted debt.
00:55And finally, prepare for any upcoming tax or financial changes in 2025.
01:00Some changes in national insurance and tax thresholds are expected, so planning now could save you some stress in the new year.