A mid-year budget checkup
July is the season of sunshine, family vacations, and long days out and about. But with all the fun comes something not-so-fun: unexpected expenses. From travel and entertainment to childcare and back-to-school shopping, summer spending can add up – fast.
If your budget’s feeling the heat, now’s the perfect time for a mid-year checkup.
Why a budget checkup matters
Halfway through the year is the ideal time to:
- Reassess your financial goals
- Make adjustments based on life changes
- Stay on track for end-of-year savings
And if you’re a parent or caregiver, it’s also a chance to model smart money habits – because kids learn by example.
5 quick steps to refresh your finances this summer
Review your summer spending
Look at your last two months of transactions. What categories surprised you? Food, gas, activities? Small splurges add up.
Adjust your monthly budget
If camps, trips, or extra childcare are temporary, it’s okay to tweak your monthly limits. Just plan to rebalance later in the year.
Prep for back-to-school now
Spread out the cost of supplies and clothes instead of doing one big shop.
Bonus tip: check what you already have before you buy.Check in on your savings goals
Are you still on track for that emergency fund or holiday spending target? Even small, regular deposits can help you stay committed.
Involve the whole family
This is a great time to talk with kids or teens about budgeting. Let them help with a grocery plan or set a savings goal for a toy, game, or trip.
Small habits make a big difference
July is National Make a Difference to Children Month – what better time to focus on financial wellness for your whole household? By doing a simple budget checkup now, you’re not only protecting your financial future – you’re teaching your family how to stay confident and in control, no matter the season.