End-of-Year Financial Checklist for Gen Z: 4 Tips To Finish Out 2024
Written by
J. Arky
Edited by
Rebekah Evans
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Gen Z is the age demographic that is fairly self-sufficient. After all, they have been raised in a world with the internet, smart phones and copious amounts of connection. As 2024 closes out, there are a few things Gen Z can do with their money to make sure they are set up for success in the upcoming year.
GOBankingRates tapped some experts to create an end-of-year checklist for Gen Z to finish out 2024 on a high note.
Double Check Your Subscriptions
For all of Gen Z’s connectivity, they will want to do a careful review of all their subscriptions as the year comes to a close.
“Have you ever felt that nasty pinch when you realize you’re still paying for a gym membership you haven’t used in months? Yes, me too,” said Kraig Kleeman, founder and CEO of The New Workforce.
“It’s easy to lose track of those $10 or $15 subscriptions, but they add up quickly,” Kleeman added. “Sit down with your bank statement (or use a budgeting app) and identify recurring charges. Delete anything you are not actively using. You’ll feel lighter and so will your wallet.”
See If Your Retirement Plan Changes in 2025
The end of the year is a perfect time to schedule an appointment with your HR department, according to Mark Henry, founder and CEO at Alloy Wealth Management.
“Even if retirement is still a long way off for Gen Z-ers at the start of your career, the earlier you start saving the longer your money will have to benefit from compound interest,” Henry said.
“Check in with your employer or HR department to make sure you’re taking full advantage of any retirement planning options and other benefits and if they are making any changes or upgrades in the new year,” he added.
Build Your Emergency Fund Now
You might be ending the year with a bonus or a surplus of money in your banking account. Do you spend it or save it for a rainy day? Kleeman urged the latter.
“Life has a funny way of giving you surprises when you least expect them. A flat tire, a surprise medical bill — it all happens,” Kleeman said. “This is why it is essential to have an emergency fund. Start small if you have to. Even saving $20 a week can add up to $500 in six months. Put that money in a high-yield savings account and let it grow quietly while you sleep.”
Dive Into Investing
Kleeman understands the intimidating nature of investing, though also noted that it does not have to be a scary experience. In fact, Gen Z can use technology to their advantage to start investing at the top of 2025.
“Start with something simple, like an index fund,” he explained. “The sooner you invest, the longer your money will take to grow. And who doesn’t love the idea of having their money work for them while they binge-watch their favorite series?”
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