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She's a Lot
Ambition Looks Good on You.
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Is summer FOMO kicking your budget's ass?
When everyone is jet-setting for a Euro summer, it can be hard to even remember what "budget" means. But, unless you want to have an Oliver Twist Winter, it may be time for a financial gut check.
This isn’t about being perfect. It’s about knowing where you stand so you can move forward with clarity. Whether you’re crushing your goals or feeling a little off track, this is your moment to pause, reflect, and reset. Here’s your 10-step Mid-Year Personal Finance Check-In - complete with prompts, actions, and tools to make it easier.
✅ Step 1: Revisit Your Goals
What money goals did you set at the start of the year?
Saving? Paying off debt? Building an emergency fund?
→ Write them down.
→ Are they still relevant?
→ Are you on track, behind, or ahead?
If something no longer fits your priorities or budget, adjust it. You’re not locked into the January version of yourself.
Next step: Set 1- 3 realistic money goals for the rest of the year. Break them down into monthly mini-goals so you can actually do them.
✅ Step 2: Update Your Net Worth
Your net worth = what you own – what you owe. It’s one of the best ways to see your overall financial health.
Action: List your assets (cash, checking/savings, investments, retirement accounts). Then list your liabilities (credit cards, loans, mortgage, etc.) You can use a net worth tracker, like the one in our Annual Budgeting Spreadsheet, to help you track and visualize this.
Tip: Compare this to where you were in January. Even small progress is worth celebrating!
✅ Step 3: Audit Your Spending
Be honest: Where is your money actually going?
Action:
→ Look at your last 2-3 months of spending (use your bank statements, budgeting app, or credit card summary)
→ Sort your spending into categories: needs, wants, goals, and "uhhh, why did I buy that?"
Questions to ask yourself:
- What categories are higher than I expected?
- Are my values showing up in how I spend?
- What could I cut without feeling it?
Next step: Cancel 1-2 unused subscriptions or set a new spending cap in a category that’s creeping up.
✅ Step 4: Refresh Your Budget
If your budget hasn’t been updated since winter… It’s probably time.
Action:
→ Adjust for inflation (food, rent, utilities)
→ Factor in any income or life changes (new job? summer travel?)
→ Re-prioritize savings goals if needed
Resource: Use our Budget Worksheet to rebuild your plan from scratch - or make quick edits to your current one.
Tip: Make sure you’re budgeting for irregular expenses coming up (e.g., back-to-school, holiday travel, annual insurance premiums). Sinking funds are a great way to do this.
✅ Step 5: Recalculate Your Emergency Fund
Ask yourself:
→ If you lost your income tomorrow, how long could you float your basic expenses?
The general rule: Save 3–6 months of bare-minimum expenses. If you’re in a volatile industry or freelance, aim for 6. Don’t have one yet? Start with a $1,000 mini emergency fund.
Resource: Try our Emergency Fund Calculator to figure out your number and how long it’ll take you based on your monthly savings.
✅ Step 6: Review Your Debt
Time for a debt check-in.
Action:
→ List out your remaining balances
→ Note minimum payments, interest rates, and due dates
→ Are you using the snowball or avalanche method?
If you’re feeling stuck:
→ Consider consolidating high-interest credit card debt
→ Explore 0% balance transfer offers
→ Review your student loan repayment plan - especially if you've been impacted by changes that have happened this year
Resource: Use our Debt Repayment Tracker to create a plan you can stick to.
✅ Step 7: Evaluate Your Income
Money in matters just as much as money out. Ask yourself:
→ Has your income changed this year?
→ Are you due for a raise or promotion? Prepare to ask for one with our guide to asking for a promotion.
→ Is there a small side hustle, freelance gig, or way to earn extra?
This doesn’t mean grind forever - it means making space to fund your goals without cutting everything else you love.
✅ Step 8: Check on Savings & Investments
Are you saving consistently, even small amounts?
Action:
→ Review all savings accounts (emergency, sinking funds, short-term goals)
→ Are you auto-transferring each month? If not, set it up.
→ If you’re investing: Are you contributing to a Roth IRA, 401(k), or brokerage?
→ Haven’t started yet? Open a Roth IRA and set up small, recurring deposits (even $20/month counts!)
✅ Step 9: Review Benefits & Insurance
Not fun - but very necessary.
Action:
→ Review your HSA/FSA accounts (are you contributing?)
→ Check if you’re enrolled in the best health/dental/vision plans or if your premiums may be changing
→ Update your beneficiaries if anything’s changed, like marriage, birth, or death
→ Revisit renters, auto, or life insurance to compare rates
Tip: Use your FSA balance before the year ends—it’s “use it or lose it” in most cases.
✅ Step 10: Celebrate Wins + Set a 30-Day Focus
Progress counts - even if it’s not perfect.
Ask yourself:
→ What am I proud of financially this year?
→ What’s one thing I can do this month to move forward?
Examples:
- Save an extra $100
- Open that Roth IRA
- Pay $50 more toward a credit card
- Cut back on Uber Eats by half
🎯 Final Thought: A check-in isn’t about judgment - it’s about information. The more honest you are with yourself now, the more in control you’ll feel going forward. You’ve still got half the year left. Let’s make it count.
Wishing you a rich life,
Lora at She's a Lot
