It is always recommended to look back at your past performance to get a better view of what lies ahead. As the previous financial year passes by, it is worthwhile to take a look at your financial state of affairs and major money moves during the year. Chances are that you will have to update your budget to align these developments or take new financial decisions based on them. It could be expenses made over the budget, investment made without due diligence, health expenses beyond insurance coverage and so on. If we are to improve our financial management in the future, we need to look back at what went wrong in our previous financial years. This retrospection often forms the bedrock of our new financial year decisions.