Mid-Year Money Check: How to Reset Your Financial Goals This Summer

July is the perfect time to pause, reflect, and reassess your finances. Whether you’ve crushed your money goals or fallen off track, a mid-year financial check-in gives you the chance to course-correct and finish the year strong.

At Alt Lending, we’re committed to helping young professionals build smart financial habits. In this guide, we’ll walk you through how to evaluate your current financial situation, reset goals, and make simple but effective moves to improve your financial health—no matter where you're starting.

1. Review Your Spending: What’s Working, What’s Not

Start with your budget. If you don’t have one, now’s the time to create it. If you do, pull up your spending over the past 6 months and take a good look at where your money is going.

• Are you overspending on subscriptions or dining out?
• Are your essential expenses manageable?
• Is your income covering your lifestyle and goals?

Use a budgeting app or spreadsheet to categorize your spending. Look for trends and decide where you can cut back—or where you have room to save more.

2. Reassess Your Financial Goals

Maybe you set a New Year’s resolution to save more or pay down debt—but life happened. That’s okay. The mid-point of the year is a smart time to revise your financial goals or create new ones.

Examples of achievable goals to finish the year:

• Save an extra $1,000 for your emergency fund
• Pay off one credit card
• Boost retirement contributions by 1–2%
• Save for a holiday trip or big-ticket expense

Set goals that are measurable, realistic, and tied to a specific timeline. Then break them down into monthly or bi-weekly targets.

3. Check Your Credit & Debt Status

If you haven’t checked your credit score lately, make it part of your mid-year review. You’re entitled to a free report. 

Look for:

• Errors or unfamiliar accounts
• High credit utilization
• Missed payments

If you’re carrying credit card balances or other high-interest debt, map out a repayment plan using either the snowball or avalanche method. Even small extra payments each month can make a difference by December.

4. Evaluate Your Emergency Fund

Financial curveballs happen. The best way to reduce the stress they bring is to have a solid emergency fund in place.

Take stock of how much you currently have saved. Experts recommend keeping at least 3–6 months’ worth of expenses in a separate, accessible account.
If you’re not there yet, don’t panic. Start by setting a goal of saving $500 or $1,000 by the end of the year. Automate your savings and treat it like a fixed monthly expense.

5. Make the Most of the Second Half of the Year

The back half of the year often brings opportunities to optimize your finances:

• Open enrollment: Prepare now to choose health benefits or a better retirement plan.
• Side income: Summer gigs, freelancing, or online reselling can help fund your savings goals.
• Holiday planning: Budgeting ahead for gifts or travel keeps you from relying on credit cards in December.

It’s also a good time to update beneficiaries, review subscriptions, and check on your financial apps and passwords.

Final Thoughts

You don’t need a new year to make a new financial start. A summer reset can be just as powerful—and easier to stick to when you make small, consistent changes.

At Alt Lending, we’re here to help you build a financial foundation that supports your goals. Whether you’re saving for something big or just want more control over your money, take this mid-year moment to check in, recalibrate, and set yourself up for a strong financial finish to 2025.