Time goes by before you can blink, and we are almost at the halfway mark in 2018! Therefore, it is a good idea to take a look at possible half year money adjustments to find positive ways to improve. This preparedness can hopefully help you to stay in line with your goals, like getting out of debt fast.
Tips for Half Year Money Adjustments
Start with your budget
When it comes to your finances, a budget is always where you start. Take a peek at the budget you created at the beginning of the year and review to see if you are still aligning with the budget categories. What’s happened to your income? Have you increased your expenses? Has your living situation changed? Do you have more or less credit card debt to deal with now? Making these budget changes as part of your half year money adjustments can help strengthen your financial situation. A budget can’t work correctly if it’s not accurate, unrealistic or you just aren’t following it.
How are you doing with your savings goal?
Most likely one of your new year’s resolutions would have been to save “x” amount by the year-end, maybe for an emergency fund or debt settlement. Mid-year is a great time to assess your goals and readjust your expectations. Just like a budget, a plan won’t work if it’s unattainable. Be honest as well as determined with your savings goals.
Start planning your holiday shopping
Yes! You read that right! Between now and Christmas there are a number of long weekends! Each of these holidays come with big discount sales. Plan your budget in a way that you make the most of these holidays to take advantage of the savings. This way you not only eliminate the mad rush during Christmas time but also make settling credit card debt easier. Your gift and holiday budget will be less and you can redirect that money towards your other debts.
Check up on your credit
Every consumer is entitled to one free credit report per year from each of the three major credit bureaus — Equifax, TransUnion, and Experian. Take advantage of these free reports to stay on top of your credit rating and follow up on any errors that you find.
Speak with a certified credit counselor at ACCC to learn more about credit solutions and more by calling 800-769-3571.