Assessing your Finances: Have you completed your Mid-Year Financial Assessment?

It's the middle of the year, and for me, it is the perfect time to assess and reflect on my financial habits over the last 6 months. Assessing financial habits for the past 6 months can help us make better and more financially wise decisions over the next 6 months.

It is always good to pause, take a break, and assess financial trends and habits, to help us create strategies that lead to greater financial success.

Consider doing a financial assessment and implementing the 4 steps below to help you reach your financial goals over the next 6 months and end the year financially strong.

1. Ask yourself what poor financial habits you've practiced over the last 6 months that have had a negative impact on your finances. Come up with a strategy for combating that habit.

Maybe you gave away too much money and need to give a little less or overspent and need to strategize ways to spend less, or maybe you just didn't save enough and need to save more. Access the habit and find ways or alternatives to combat them.

2. Assess where you spend your money the most.

Assess your spending (coffee, eating out, entertainment, etc.) and come up with a strategy for cutting costs in that area, so that you can keep more money in your pockets over the next 6 months.

3. Write down financial goals and create a realistic strategy for completing these goals.

Come up with a 6-month strategy for achieving some of your financial goals. This may include saving more, paying off debt, or catching up on expenses.

4. Check your budget.

This is a great time to go over your budget. See if anything has been added to your budget or if there is anything you can cut from your budget. Checking your budget on a monthly or quarterly basis can help with managing overwhelming amounts of expenses.

Be Intentional and Consistent

Being intentional and consistent with your goals over the next 6 months can lead to very rewarding results. Don't give up on your financial goals. Continue making the assessments and adjust accordingly. You will surely succeed.

Question: How do you think a financial assessment can help you succeed financially over the next 6 months? Let me know in the comments.

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Discipline is Key🗝️

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