Dear Readers: With the holidays upon us, it's easy to put financial concerns on the back burner (other than covering all those extra holiday expenses!). However, this can be a great time to review the financial strides you've made this year. Use this year-end financial checklist to help you focus on where you stand now and what adjustments you might want to make for the new year. It doesn't have to take a lot of time — and it may make your holidays that much brighter knowing you're on solid financial footing.

1. Review your spending and refine your budget. You may have started the year with a clear budget, but did you to stick to it? Take a look at your 2013 spending patterns. Are there areas where you were consistently over budget? Were there a lot of unanticipated expenses? Did you meet your savings goals? With this year's facts and figures in front of you, it will be easier to plan and prioritize your expenditures for next year.

2. Determine your net worth. This is a worthwhile yearly exercise to find out where you are — and where you need to go. And it's easy. Simply add up what you own (home, car, savings, business interests, personal property, investments, etc.) and subtract what you owe (mortgage, loans, credit cards, etc.). Knowing this will allow you to track your progress year to year. It may also give you some incentive to save more or reduce your debt.

3. Rethink your credit card usage. Speaking of debt reduction, review the terms of your credit cards. Are you paying too much in interest and fees? Are you getting the benefits you want such as cash back or travel points? If you're going to use credit cards, you might as well make them work for you — but always pay off your monthly balance if you can!

4. Check your credit score. While you're focusing on credit cards, go to annualcreditreport.com and request a free credit report from each of the three nationwide credit reporting agencies. You're entitled to one free report from each agency every 12 months.

5. Make sure you're on track for retirement. If you've let retirement savings slip this year, recommit to making it a priority. Up the percentage you're contributing to a 401(k) or IRA. If you're self-employed, consider opening a SEP IRA or a similar small business retirement plan.

6. Comparison shop for insurance. Insurance needs change as your life changes. Review your health, homeowners and car insurance policies to make sure you have the right coverage at a reasonable premium. Consider life insurance if you have dependents — or consider discontinuing a policy if your kids are grown and on their own.

7. Rebalance your portfolio. Market movements may have thrown off your asset allocation. Check to see if your portfolio still reflects your goals and feelings about risk. If not, bring it back to your target by selling down your overweighted asset classes and buying more in underweighted classes. Though keep in mind that rebalancing does not protect against losses or guarantee that your goals will be met. And if you're retired, this is a good time to set aside money for next year's cash needs.

8. Start tax planning. It's not too early to think about taxes. If you're selling stocks to rebalance your portfolio, consider harvesting your losses to get a tax break. Capital losses can be used to offset taxable capital gains, plus up to $3,000 in ordinary income ($1,500 for married couples filing separately). Losses you can't use this year can be carried over into future tax years.

9. Update your estate plan. New baby? Newly married or divorced? Make sure your beneficiary designations reflect any changes. If you haven't already done so, complete an advance health care directive and give copies to your doctor and hospital. Don't yet have an estate plan? Make that a New Year's resolution!

10. Put whatever you can on automatic. Bills, recurring payments, even savings — the more you can put on auto pay now, the easier your financial life will be next year.

If your year-end review shows you've got things under control and are on target to meet your goals, congratulations. If you need to make some changes, now's the time to start putting together your plan for 2014. Either way, with this information in hand, you'll feel in greater financial control-which should make your year-end celebrations that much more fun. Happy holidays!

Carrie Schwab-Pomerantz, CERTIFIED FINANCIAL PLANNER(tm), is president of Charles Schwab Foundation and author of the forthcoming book "The Charles Schwab Guide to Finances After Fifty," available in bookstores in April 2014. You can email Carrie at [email protected]. This column is no substitute for an individualized recommendation, tax, legal or personalized investment advice. To find out more about Carrie Schwab-Pomerantz and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com.

DIST. BY CREATORS SYNDICATE, INC.