Why you need a midyear budget check-in


A typical July includes vacations, travel, shopping, weddings and beaches. Taking a look at your budgets? Not so much.

But the year’s halfway point provides a great opportunity to take a close look at your financial health and goals.

Now’s a good time to “check yourself before you wreck yourself,” says Nora Yousif, certified financial planner and vice president at RBC Wealth Management in the Boston area.

Here are three important reasons to check your budget right now – and easy things you can do to reevaluate and ensure you reach your money goals for the rest of the year.

You can learn from the past

School’s out, but summer budgeting calls for a grading exercise. Judging your budgeting behavior is a productive way to see where you stand, according to Andrew Almeida, CFP, founder of Almeida Investment Management in New York.

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