Benefits of a Mid-Year Check-In

Your lifestyle changes month-to-month. As a result, so do your finances. In the last few months you may have taken on new expenses, been hit with unexpected costs, or received a cash windfall. July is a great time to do a mid-year review of your finances. Take a moment to check-in on your current financial situation!

Self-Assessment: See where you stand on your personal finances and do a check-in on your goals and plans for personal improvement. 
Credit Report: Review what is on your credit report and make sure the information is accurate. Address any inaccurate information by contacting the business that reported the information to the credit reporting agency. Identifying and removing these errors is a good defense against identity theft and can help improve your credit score. You are entitled to a free copy of your credit report once a year from each credit reporting agency. Get a copy of your free credit report at
Budget: A budget is a plan for your money and should include your income, savings goals, debt payments, as well as fixed household expenses and discretionary spending. Start by tracking your spending for a month and categorizing your spending habits (ex. housing, entertainment, transportation, etc.). This exercise will help you identify areas to adjust and help you find money to put towards saving and for paying down debt. Get started by exploring our module on Creating a Budget.
Net Worth: Calculate your net worth by determining the value of all the assets you own (cash, real estate, value of your vehicle, etc.) and subtracting the total of the liabilities that you owe (debt, expenses, mortgage, etc.). Gathering this information and calculating the numbers can give you a good view of where your money is coming from, where it is going, and changes you can make to increase your net worth.

Once you have a snapshot of your current situation, you can adjust your strategy. These tools can help you make changes to get back on track with your finances. With a fine-tuned plan, you will be able to reach your goals in the second half of 2023!

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(July 2023)