How to get your finances ready for 2015

December is now upon us, which means that 2015 is right around the corner. And while many of us have started planning where we will be spending the Christmas holidays or ringing in the brand new year, there should be something else on your mind: Your financial goals.

The New Year is a time often spent thinking of resolutions regarding things like fitness, diets, getting a new job or just being a better, happier person. But what many people often neglect are their financial circumstances.

With the New Year coming up very fast, you might want to think about some of the following tips to whip your finances into shape for 2015.

Budget boot camp

While many people enjoy setting New Years resolutions each year, they can be extremely hard to stick to – and budgets are no exception!

In order to get into good financial shape for 2015, take some time to see a wealth coaching expert to determine which expenses you could go without. You might find that through a refinance, you could save money on your mortgage repayments, or even implement wealth creation strategies that help you get more out of your investment. 

Whether you set up a weekly or fortnightly budget, it's crucial to have real figures that give you an absolute limit on how much you're able to spend. Not only will this let you know how you track throughout the week, but it'll tell you how close you are to reaching your goals.

Spend what you need – not what you want

The Christmas holiday season is a time when spending can get a bit out of control. With presents, holidays, accommodation and activities to keep the kids entertained, it can add up quickly. According to the National Retailers Association, Aussies will spend $43 million this year in the pre-Christmas period. This covers the last two weeks of November through to Christmas Eve.

In addition to this, research from says the average spend for Australians will be a whopping $488 per adult on Christmas gifts alone. 

While it's tempting to be a bit more frivolous with spending over the silly season, keep in mind that everyone should have a limit. Make a point to talk to a debt reduction expert and spend what you need – not what you want. If you get too carried away and your credit card sees a few too many swipes, you could find yourself in an unsavoury financial position in the New Year.