First, you’ll want to gather key materials. Find any financial plans or goals that you recorded at the start of the year. Log into major bank accounts and find important financial documents, like credit card statements. Assess your progress by comparing each goal, big and small, to your financial reality over the past few months. If you plan in January to save a certain amount every month, see how you’re keeping pace with your contributions to your savings account. If you wanted to reduce credit card debt, but it has only grown, make a note.

It’s important to compile an honest list of your successes and your areas for improvement. This will help you to effectively reestablish your goals. Give yourself grace if things didn’t go as planned; pat yourself on the back for committing to improve your financial wellness, even if you have a long way left to go.

Once you’ve examined your progress towards each financial goal, make a new list with realistic adjustments. Break financial goals up into relevant buckets: budgeting, saving, and paying down debt. For some goals, like monthly contributions to a savings account, you’ll want to get specific with numbers. For others, like saving above your goal for one month of the year, it can be more helpful to judge your success within a specific timeframe.

It’s possible that some goals you set in January are unrealistic, or too vague to be useful. For example, you set a goal to spend less on coffee, but you didn’t draw a clear line about how much less or how you would avoid it. Without these guidelines, you probably didn’t achieve your goal. Try reframing the same goal now with stronger stipulations, like buying a home coffeemaker you can use every day. You could even try an incremental change, like weaning yourself from expensive, flavored drinks by buying cheaper plain coffee. You don’t have to give up everything you enjoy for financial wellness. Remember, the smallest mindful change can make a huge difference over time.

Another helpful step in your financial reset is rebudgeting based on any unexpected costs this year. If you had to make a big payment from your emergency savings, find areas in your budget where you could save more to make it up. If you got a bigger tax return than you expected, or you managed to save on utility bills, allocate the funds to short or long-term savings. Financial life is full of ups and downs, and many changes are out of your control. However, you can regain confidence by adapting and tailoring your plans.

For any financial check-in, it’s helpful to involve other parties who share your decision making. Sit down with your spouse or your roommates to make sure that everyone’s on the same page. The benefit of planning as a team is that you can discuss and share different opinions. Ask yourself how you can set financial goals that feel comfortable and useful for everyone. Share what may prevent you from achieving household goals. This might inspire you to discover the financial tricks that really work for you.

Financial anxiety is a common problem. You might feel overwhelmed or unsure of where to start. Remember, the more you check in with your finances, the less nerve wracking and time consuming it becomes. If you need help taking the first step, you can get in touch with one of Affinity’s Wellbeing Coaches¹. They can work with you to build a realistic, manageable plan. You can also call a trusted friend or family member for advice.

Financial wellness isn’t about perfection. It’s taking small steps, smart habits, and consistent check-ins. Use this mid-year moment to recenter your goals and move forward with clarity. A midyear financial check-in can help you do both. As you get more comfortable reviewing your finances, you might soon find yourself running monthly check-ins and saving more than you ever expected. Keep going with the knowledge that Affinity is cheering you on.

This information is for informational purposes only, is intended to provide general guidance, and does not constitute legal, tax, or financial advice. Each person's circumstances differ and may not apply to the specific information provided. You should seek the advice of a financial professional, tax consultant, and legal counsel to discuss your needs before making any financial or other commitments regarding matters related to your condition.

¹Retrieved from: https://www.affinityfcu.com/financial-wellbeing/certified-wellbeing-coaches