As we gear up to the time of year when we tend to have a little more time to reflect on our financial position and how we might like that to change, here are my 12 top financial planning tips for the festive season:

1. Check if you’ve used your various allowances yet this tax year such as ISAs and pension contributions and if not, set a plan to do so.

2. Complete your tax return ready for submission

3. Sort through all your old paperwork and shred what you no longer need – it makes great hamster bedding

4. Put together a file of important documents such as wills and include a list of investments, savings and insurances and key contacts should the worst happen to you

5. Update your family budget – you won’t get where you want to be unless you know where you are now

6. Wrap up warm, it’s going to get colder

7. Check for bank accounts that you opened because they had a great rate and are now paying you diddly squat and move them somewhere decent

8. Ask yourself, if this were to be your last Christmas, what would you regret having not done – then see what you need to change to make sure you can do it

9. List all your investments grouped by where they invest, including in your pensions, and ask yourself if this was strategy or chance – then decide if you need to do something about it

10.If you haven’t got a will or powers of attorney, book to see a solicitor and get them done

11. Review and update your financial plan – if you don’t have one, start making one

12. Enjoy Christmas