Can you believe it’s June already? The official start of summer will be here before you know it. Being that it’s now mid-year, this is a significant time to re-evaluate your financial goals from January. Think about what is working and what you may need to change up for the second half of the year. Keep reading to get some ideas on how to complete your mid-year financial review.

Organize Your Financial Records

If your financial records are a mess or you don’t know where to find important documents, now’s the time to get organized. Make sure you have original documentation for wills, deeds and any paperwork for inherited assets. Other records of importance? Be sure you are maintaining files on tax returns, retirement plan and investment statements, mortgage records, insurance policies, bills, important receipts, financial account statements, pay stubs, benefits information and any estate planning documents. You can either choose to maintain records of these documents in paper form or electronically on your computer or tablet – just ensure you have some record of this list or know how to access them quickly if needed.

Check Your Credit Score

Your credit score is a good indicator of your financial well-being. Double check your credit score at least annually to look out for any red flags, like missed payments or possible identity theft. Also checking your monthly account statements or regularly logging into online banking or your financial institution’s mobile app, can help you spot any fraudulent account activity right away.

Feed Your Emergency Fund

Credit cards are not substitutes for having cash on hand. It’s important to regularly add to your emergency fund, which should only be accessed for unexpected emergencies – like home or auto repairs. A good way to add to your emergency fund? Allocate your direct deposit. Even if you start with taking $20 out of each paycheck and having it deposited right into your emergency savings account every payday – this can really add up over time and most likely, you won’t even miss it. If you’re not sure how to set this up, ask your Human Resources or company payroll department for assistance.

Put Up Digital Walls

Cyber crimes are increasing in number by the day. It’s time to make sure you’ve updated your online passwords, that you’re using encryption or two-factor authentication to login to websites whenever possible, and that you aren’t sharing sensitive data or doing your banking over public Wi-Fi networks.

Re-Evaluate Your Financial Goals

Do your financial goals still make sense for the rest of the year? A lot can happen in 6 months, and you may have had some scenarios that warrant a second look. Have there been any other major financial changes this year? Think family, income, asset, debt or business related events. If there have already been or you know there will be changes to any of these items before the end of the year – reach out to a financial professional today.

At First Financial, our members are like family and we are here to help you achieve your financial goals. For more personalized financial assistance call 732.312.1500 or visit your local branch today. Don’t miss out on more financial tips and advice – be sure to subscribe to our monthly e-newsletter.