Lending Club Blog

New Year Budget Review

The start of a new year is an excellent time to review your budget. If you don’t yet have a budget, it is also a great time to start one. The changes that inherently come with the New Year are the main reasons why a budget review makes the most sense at this time.

The main reason that a yearly budget review is appropriate now is that seasonal and one-time expenses from the previous year can be analyzed to help you plan your budget for the coming year. Whether you budget more for seasonal items when they are expected to occur, or spread the costs out over the entire year, looking at the previous year will help make your estimates for the current year more accurate.

Another reason why budget reviews make sense at the start of the year is that your income and expenses may have changed. Depending on the elections you made during your benefits enrollment, which typically take effect at the start of each year, you may see a change in the amount withheld from your paycheck. Many companies also offer year-end bonuses or salary increases that become effective January 1st.

Understanding your potential expenses, including planned purchases of big-ticket items, will help identify any borrowing needs you may have. Your budget review may also uncover areas for potential savings or categories that you hadn’t planned for in the prior year. You may be able to free up money for investments in such vehicles as a person-to-person loan portfolio on Lending Club just by analyzing the aspects of your financial life that have changed. Remembering to include savings and investing in your budget will help to automate this process and thus make you more likely to meet your financial goals.

The information from the previous year and the knowledge of any income or expense changes for the coming year should enable you to adjust your budget accordingly. Getting off to an accurate start will help your finances all throughout the year.

Monday, January 7th, 2008 at 9:13 am

Comments (2)

  1. erna:

    hey there mike.. what is the reason if the budget reviewed in a
    half yearly.??.i’m an accountuing students..i really appreciate if
    u reply this.. regards… E

    March 30th, 2008 at 2:13 am

  2. Mike:

    Erna, I’m not sure that I understand what you are asking. Can you
    please clarify your question. Thanks, Mike

    March 31st, 2008 at 9:21 am


Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

A Message to Investors from our President and Acting CEO

Today, our President and acting… Read More »
May 19, 2016

Lending Club Receives Tribeca Disruptive Innovation Award

Disruptive innovation comes in many… Read More »
April 29, 2016

Lending Club Business Financing Review

One of the biggest challenges of owning a small… Read More »
April 27, 2016

Lending Club partners with Funding Circle and Prosper to launch Marketplace Lending Association

Read More »
April 7, 2016

Lending Club Welcomes Maryland and North Dakota Investors!

We’re now open to retail… Read More »
February 23, 2016

What is Lending Club?

More than one million Americans have achieved their financial… Read More »
February 16, 2016

Get ready for tax season! Lending Club Now Offering TurboTax Integration for Form 1099s

Read More »
February 12, 2016

Lending Club Success: Surpassing $16 Billion in Loans

Founded in 2007, Lending Club’s… Read More »
February 11, 2016

Credit Performance Update

Summary: Credit performance of our standard program is coming… Read More »
February 7, 2016

Critical Small Business Financing Issues

A recent Harris Poll survey conducted on behalf of… Read More »
December 17, 2015


We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w