Now that we’re halfway through the year, June and July can be a great time to check in on your financial well-being and ensure that you’re on track for the coming months.

Here’s a handy checklist to get the ball rolling.

Have your income or expenses changed?

Have you received a pay raise or bonus recently? Are you spending more or less than you were earlier this year? Taking a closer look at your income and outgoings is a good place to start.

Your new budget may allow you to spend your money differently, where it matters most. For example, you might have more resources to invest, save or put towards insurance. Or, if you have less disposable income than before, now can be an opportunity to reassess where your money is going and set some financial goals for the remainder for the year.

Would debt consolidation be an option?

Debt consolidation essentially means rolling all your existing loans into one with a good interest rate, to make your debts easier to repay and manage.

This can be a viable option if you have a moderate amount of debt in a lot of different places, and would like to get debt-free faster. However, debt consolidation is not without risks: even with a good interest rate, having too long a loan term can see you pay more interest overall.

Not quite sure if debt consolidation is for you? Get in touch – some of our SHARE advisers specialise in debt consolidation too.

Are you paying for subscriptions you no longer use?

Music streaming, TV streaming, mobile plans – you name it. Subscriptions may only cost a few dollars each month, but with potentially dozens of monthly bills being auto-withdrawn from our bank account, they can easily add up to a couple thousand dollars each year.

If one of your goals is to save more money, now can be a good time to do a subscription audit and cancel services that you don’t use.

Does your KiwiSaver need a review?

2022 hasn’t been an easy year for the share market and your KiwiSaver. And that’s why it’s a good idea to make KiwiSaver part of your mid-year financial health check.

From making sure you’re invested in the most appropriate fund for your risk profile and goals, through to assessing your contribution rate – we can help you understand where you’re at and what adjustments you can make to get achieve your short and long-term goals.

Once again, our SHARE advisers are here to help: get in touch if you have any questions.

What are your short and long-term goals?

Things can change quickly, and the goals you have now may look different from those you had six months ago. So, what’s on your to-achieve list?

If you have big goals in mind, consider how you could break them into smaller, achievable goals, to keep you motivated and on track. What can you work towards achieving in the next three to six months?

It doesn’t have to be a long list: just keep it relevant to you and your financial life. Long-term goals help us set a direction, but it’s smaller ones that help create momentum. And whatever goals you have in mind, remember: our SHARE advisers have been helping thousands of clients be on track for the financial future they desired.

Like to talk?

As always, our SHARE financial advisers are just a phone call away. We’ll be happy to discuss your financial needs and goals in detail: click here to find an adviser near you.

Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.