Review Last Year’s Spending

This is a one-time check-in: you’re not trying to “be good with money.” You’re trying to see what actually happened.

If you only do one thing, do this: look at 12 months of real transactions (bank + cards) and write down what surprised you.

A simple way to do the review

1. Pick your window

Choose a full 12 months (calendar year or “last 12 months”). Consistency matters more than perfection.

1. Gather the raw data

Use statements, a budgeting app export, or your bank’s category reports. If you have multiple cards/accounts, include them all so you’re not reviewing a partial story.

1. Do a quick “experience + spending” split

It can help to separate:

• Experiences or life areas you care about (travel, hosting friends, hobbies, learning)
• Pure spending categories (groceries, rent, subscriptions, transportation, interest)

This isn’t a moral ranking. It’s just a way to notice what your money supported.

1. Identify three numbers

Keep it lightweight:

• Total spent (or total outflows)
• Biggest 3 categories
• “Lumpy” one-offs (medical, car repair, moving, weddings, etc.)

The point is to distinguish recurring lifestyle costs from irregular but predictable life events.

1. Ask a few neutral questions

Choose any that feel useful:

• What categories grew compared to what I expected?
• What costs were “quiet leaks” (small, frequent, easy to ignore)?
• Which spending felt worth it afterward?
• What surprised me in a good way?
• What do I want to plan for next year that I didn’t plan for this year?

1. Make one small next-year adjustment (optional)

Not a total overhaul—just one tweak you’re willing to test. Examples:

• Put a realistic amount into a “lumpy costs” sinking fund.
• Cancel or downgrade one subscription you didn’t use.
• Set one category target based on last year’s actual average.

If you notice feelings (guilt, stress, pride)

That’s normal. A review can bring up emotion because money is tied to security, identity, and relationships. If you find yourself spiraling, narrow the goal: “I’m just collecting information.”