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The money moves you need for your mid-year financial checkup

In the spirit of Independence Day, masasabi mo bang financially independent ka na?

The money moves you need for your mid-year financial checkup

As we celebrate Independence Day, it’s a great reminder of the importance of freedom—including financial freedom. Mid-year is a great time for a financial checkup where you can ask yourself questions like “Kumusta na ba ang ipon ko?”, “Enough ba yung budget na nilalagay ko para sa groceries and utilities?”, or “Mabibili ko na ba yung [insert luho here] na 3 months ago ko pa in-Add to Cart?”

If you need to make some necessary adjustments to cover everything and beyond, here are some essential money moves to keep you on track and hopefully bring you closer sa pinapangarap nating ✨ financially independent ✨ status:

Refresh your financial goals

Kung ano yung na-set mong goals for the year dapat aligned pa rin do’n yung money habits mo. O di kaya nagbago na? Nothing wrong with that! Adjust your goals and timelines to match your current aspirations.

Review your budget

Kaya siguro ‘di mo pa feel na financially independent ka na ay dahil ang dami mong unncessary expenses bigla? Take a good hard look at your spending habits to see where you can cut back.

Evaluate your savings

Kumusta na ang emergency fund mo, naghuhulog ka pa ba? Independence comes with responsibility. And a big chunk of cultivating good money habits is being consistent with your savings. Look into your budget again and find some expenses you can convert into savings.

Tackle your debt

Debt can feel like a financial burden but as long as you’re showing up for it like paying your dues on time, no matter how small, makes a huge difference. Kung overwhelmed ka na sa laki ng utang mo, consider making a separate budget plan for it to stay consistent and make progress.

Did you recently secure a credit card this year? Kung kaka-establish mo lang ng credit history mo, you might want to check your credit report regularly for any errors or signs of identity theft. You can request a copy of your credit report here.

Plan for the near future

Siguradong mas magiging magastos ang mga susunod na buwan due to upcoming expenses for the holidays, new academic year, and home repairs caused by the rainy season. So it’s better to start saving up for these to avoid financial stress later.

What do you think the rest of your year looks like? Taking these steps will help you stay organized and get you out of overthinking mode when things get too much, financially. As long as you have a plan and you stick to it, you’re in good hands. Laban lang!

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