A checklist emerging out of a phone, with coins and dollar signs around it and a blue background.

Your mid-year finance check-up

The start of a new financial year is an opportunity to refocus your finances.

April Kenneally
April Kenneally 08 Jun 2023 ・ 2 min read

If you’re looking to boost your financial wellbeing, here are a few ways a mid-year check-up can help make the rest of the year count.

Look at your spending patterns

Reviewing your finances can help you reflect on the progress you’ve made and see where you may need to adjust your spending, saving and income streams for the year ahead.

Consider cancelling unwanted or lightly used subscriptions and comparing your current utility fees. This could help you make a switch that lowers your bills.

Understand your investments and insurance

Determine whether your investments are working well for you. Review your balance and ensure you’ve set-up your accounts so your money is working harder for you.

It’s also a good time to explore whether your insurance policies still meet your needs. If not, it might be time to contact your provider to discuss your cover.

Protect your privacy

Use the start of the new financial year to enhance your online security and safeguard your personal information.

If it’s been a while since you last thought about changing your passwords, consider updating them and enabling two-step verification for your online accounts.

Plan where to put your tax refund

If you’re expecting a refund this tax season, brainstorm where might be best to spend it to help you reach your financial goals.

The funds could go toward repaying debt or topping up your savings, emergency fund or offset account. You could also consider adding value to your home with repairs or refreshes.

Set goals with expert support

Setting realistic and achievable goals can help you stay focused for the rest of the year. And with a financial adviser or free-thinking broker on your team, you’ll be supported to reach them.

If you’re looking to consolidate debt or discuss your borrowing options for property or investment plans, reach out to your local Liberty Adviser today to get started.

April Kenneally
April Kenneally Author
April Kenneally is a writer for Liberty, with a passion for corporate social responsibility, personal finance and foreign affairs. She enjoys learning languages, planning her next travel adventure and being surrounded by dogs. April has a Bachelor of Arts and Business from UTAS and a Master of International Relations from Monash University.