Mid-Year Money Check-In: 5 Simple Questions to Ask Yourself

The year is halfway over, making it the perfect time to step back and review your finances. A mid-year check-in helps you stay aligned with your goals and make any course corrections while there’s still time. Here are five simple questions to guide your review:

1. Have my financial goals changed? Maybe you’re now planning a move, growing your family, or rethinking your retirement timeline. Revisit your short- and long-term goals to make sure your financial plan still reflects your current priorities.

2. Am I on track with my spending and saving? Review your budget or spending plan. Are you saving as much as you intended? Are there areas where spending has crept up? Adjust as needed to make sure you’re on track for the second half of the year.

3. Have I made progress on debt or investing goals? Check your progress on paying down debt or contributing to investment accounts like IRAs or 401(k)s. Even small progress is worth celebrating.

4. Are there tax strategies I should consider now? Mid-year is a great time to consider Roth conversions, tax-loss harvesting, charitable giving, or flexible spending account usage. Small tax-savvy moves now can save you money come April.

5. Do I need help or a second opinion? If you’re feeling unsure or stuck, now may be the right time to reach out to a financial planner. A fresh perspective can help you course-correct or uncover new opportunities.

A mid-year check-in doesn’t have to be overwhelming. Taking even 30 minutes to answer these questions can bring clarity and renewed focus to your financial journey.