Why should I do an annual spending review?

A monthly budget catches the trees; an annual review shows the forest. Once a year, total your actual spending by category over the full 12 months, which surfaces the irregular and seasonal costs that any single month hides – insurance, travel, gifts, medical, car repairs. You'll often discover your real yearly spending is higher than 12 times a 'normal' month, which explains why budgets feel tight at certain times. The review is also when you reset sinking-fund amounts, re-shop insurance and subscriptions, and check your savings rate against your goals. It pairs naturally with open enrollment and tax season. Block a couple of hours each January, pull the year's transactions, and recalibrate the plan for the year ahead. The annual-checkup assessment at wealthserene.com/assessments/annual-checkup gives you a structured walkthrough.