By year’s end, many people have racked up another 12 months of debt and spent money beyond their means. Before the new year approaches, it is important for everyone to complete their own personal financial audit that will explore their spending habits and see where their money typically goes each month. This is important to know because it helps people become more aware of the money they are spending, ensuring they do better with sticking to their budget.

Ensures Energy Savings

Homeowners completing a financial audit must take their bills into consideration. An energy bill, for example, is one area where too much spending typically occurs. By looking at this bill and considering ways to lower it, homeowners are ensuring themselves energy savings. The Easymax Program in Alberta offers one way to save. Residents can sign up for a secured rate that will remain the same throughout the entire year. This stops them from having to deal with fluctuating prices and never knowing what their bill will be.

EasyMax also offers the option to have variable rates. This would mean having different rates each month, but some months would be much lower. The rates are based on the market conditions. During a low market month, the energy bill would be extremely affordable. It helps to balance out the higher market months. Either way, there are options for energy savings with this program.

Manage Debts


Combing through finances helps people see how much debt they truly have. Once it is all listed together in one place, people are more apt to realize how large the problem has become. This will make them see that it is time to start managing debts and get things under control. Budgeting for debts that need to be paid off will ensure any money owed gets taken care of, and money is not spent elsewhere instead.

Create a Food Budget

Sorting through financial records and receipts will help people realize how much they are spending on food. This does not only include groceries bought for the house, but also meals purchased at restaurants or drive-thru windows. Once people look at the receipts and realize how much they are spending on food alone, it will help them create a food budget that can save them a great deal. Making a list of what groceries are needed for the week and only purchasing those specific items will help people stay on track with their buying.

Set Goals

Seeing all financial information in one location is a great way to help people see which types of goals need to be set. A great goal to set is in terms of eating out at restaurants and fast food places. Rather than cutting it out completely, a goal can be set to only eat out once or twice a month. This will help people stay on track with their financial limitations, while still being able to feel like they are enjoying things they like.

A personal financial audit helps people a great deal. It should be done before each new year to help people see the areas where they spend too much, and even find places where they aren’t quite spending enough. This will help them keep their spending under control and ensure debts are kept to a minimum, thus improving their finances overall.