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It's the bottom-half of 2023... how you looking?!


Remember a couple hours ago when we were all toasting and counting down as we entered 2023? I know everyone always says this... but really, where has the year gone?


If you are like most people, you probably entered the year strong-willed and enthusiastic about your goals for 2023. Lots of our clients share similar financial goals focused on ending the year financially fit and hopefully with a surplus of some sort. The halfway point of the year is a great time to take a step back and assess your financial health. Wondering where to begin? Here are a few tips for conducting a healthy midyear financial check-in.


  • Review your budget. Yeah, that distant memory set back in January! Refer to your original budget, if you created one, and ask yourself how are you tracking against it? Are there any areas where you need to cut back? Are there any areas where you can save more?

  • Track your spending. This goes hand in hand with reviewing your budget. Even though it is the 2nd bullet point, it is easily one of the most important steps in any financial check-in. Use a budgeting app or spreadsheet to track your income and expenses for the past few months. This will help you identify areas where you can cut back or save more money.

  • Check your debt. Make a list of all your debts, including the balance, interest rate, and monthly payment. This will help you determine which debts to prioritize paying off first. We made an Instagram post a while ago about different proven methods to reduce your debt. We highly recommend reviewing this post and diving in. Check it out here, and be sure to follow us or year-round information like this!

  • Update or start your emergency fund. Do you have enough money saved in your emergency fund to cover unexpected expenses? Most people underestimate how important starting and maintaining an emergency fund can be. Although it can be tough, saving any amount you can helps. We typically recommend canceling or pausing a subscription or service and reallocating those funds as a starter.

  • Recommit to your plan. After your mid-year check in, revisit what parts of your plan worked and that you were able to stick to. Also, review what didn't work. Take the time to either recommit or edit your plan accordingly. This is also a great time to call in a specialist (like St Clair Financial Services) if you need some help creating your plan.

Taking the time to conduct a midyear financial check-in is a great way to stay on track with your finances and make sure you're on the right track to reach your goals. So don't wait, take some time today to do your check-in!


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