Do a Quick Financial Review

do a quick financial review

Now is a good time to do a mid-year financial checkup

Believe it or not, we’re already halfway through the year. That means it’s a good time to do a mid-year financial checkup. Think of it as a way to make sure you’re on track to meeting your goals, and if you’re not, a way to change things before the year is over. Here’s a quick checklist.


If you have debt, make sure you have a solid plan in place to pay it off. Focus on high-interest rate debt first, then work your way down the line. If you are struggling with high-interest-rate credit card debt, consider a balance transfer card. Make sure the balance transfer offer is such that you’ll be able to pay off the debt before the low teaser interest deal expires.


Does your budget still fit your lifestyle? If not, now is the time to change it. Go over your budget and check to see how your spending, earning, and savings have changed over time. You want to make sure that as your earnings have climbed, your savings have kept pace. Make adjustments where necessary.


Time to check in on your investments. Does your strategy still mesh with your retirement and other long-term goals? Does your portfolio carry not enough risk, too much risk, or just the right amount?

Retirement Fund

Use this time to bump up retirement fund contributions. If your company offers a 401(k) match, do your best to contribute enough to grab every last dollar. That’s free money. If you’ve been unable to hit the match, go over your budget and make some changes so that you’re able to from now on.

Chris O'Shea

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