Can you believe we are already halfway through the year? Mid-year is the perfect time to check in on your financial goals. A few slight adjustments now can help set up your finances for success. Check out these five smart financial moves to strengthen your financial game as we move into the second half of the year.
1. Review your financial goals.
The goals you set back in January may look a little different today, but that’s okay! Take a few minutes to review your savings goals, vacation budgets, debt payoff plans, budgets for major expenses or home projects, and emergency fund progress. Ask yourself: Am I on track? Have priorities changed? Can I make any adjustments to help finish the year strong?
Don’t sweat changes to your plan! Even choosing just one financial goal to focus on for the remainder of the year, instead of trying to tackle everything all at once, goes a long way.
2. Make sure your savings is working for you.
Many people keep money in accounts that earn little to no interest without realizing it. Mid-year is a great time to look at your emergency savings, vacation funds, holiday savings, and sinking funds. Look for opportunities to maximize your earnings while keeping your money accessible with a high-yield savings account. This type of savings account offers significantly higher interest rates than a traditional savings account while also giving you easy access to your funds. Additionally, you’ll benefit from compound interest, allowing your money to grow at a much quicker rate. Looking for more information about high-yield savings accounts? Read our article, “What Is a High-Yield Savings Account? Why Should I Have One?”
3. Review your monthly spending habits.
Creating a budget is only one piece of personal finance puzzle. Routinely tracking your spending and evaluating budget categories is a healthy practice to keep your finances in check. You don’t need a complete budget overhaul to improve your financial picture. A simple but effective money move is to review your streaming subscriptions, memberships, recurring app charges, and automatic renewals. You may discover expenses you are no longer using or opportunities to allocate money toward your savings goals.
Budgeting apps can help you track spending at a glance. First Bank’s eBanking and the First Bank On The Go mobile app include budgeting tools and spending analytics right in your online banking experience, allowing you to see spending and earning insights, budget performance, and savings progress.
4. Strengthen your financial security.
Protecting your accounts is just as important as growing your savings. Mid-year is a great time to update passwords, enable account alerts, review account activity, verify your contact information, and turn on card controls to monitor account activity.
Banking alerts can help you identify suspicious activity quickly and stay informed on recent activity. It’s easy to activate alerts in eBanking and the First Bank On The Go mobile app to keep an eye on your account. You can receive account alerts to notify you of low balance or large deposits, service alerts for new eStatements and when your account profile has changed, and debit card alerts to inform you of declined purchases, fraudulent activity, or card use at designated merchant types.
Additionally, confirming your contact information with financial institutions will make sure you receive important account notifications or alerts. Checking your contact information on file is quick and easy in First Bank’s eBanking and First Bank On The Go mobile app—just navigate to your profile. Notice something off? Update your email and phone number directly in eBanking or the mobile app. Need to update your address? A First Bank banker can quickly update your account information at your local branch or at 800-760-2265.
5. Plan ahead for the rest of the year.
The second half of the year often brings additional expenses to include in your budgeting. Back-to-school shopping, fall activities, holiday travel and gift purchases, and any end-of-year home projects can lead to higher spending. Planning for these expenses now can help reduce financial stress later on in the year. Set up automatic transfers in eBanking or the mobile app to a dedicated savings account for these upcoming expenses. Set it and forget to keep these savings goals funded without the hassle of monthly manual transfers.
A mid-year financial check-in doesn’t have to be complicated. The small steps you take today can help you stay focused, build confidence, and make meaningful progress toward your financial goals.
Looking for tools to help you save smarter and stay on track? Explore First Bank’s eBanking tools, financial calculators, and savings solutions designed to support you on your personal finance journey. At First Bank, we are here for you every step of the way.
1. Review your financial goals.
The goals you set back in January may look a little different today, but that’s okay! Take a few minutes to review your savings goals, vacation budgets, debt payoff plans, budgets for major expenses or home projects, and emergency fund progress. Ask yourself: Am I on track? Have priorities changed? Can I make any adjustments to help finish the year strong?
Don’t sweat changes to your plan! Even choosing just one financial goal to focus on for the remainder of the year, instead of trying to tackle everything all at once, goes a long way.
2. Make sure your savings is working for you.
Many people keep money in accounts that earn little to no interest without realizing it. Mid-year is a great time to look at your emergency savings, vacation funds, holiday savings, and sinking funds. Look for opportunities to maximize your earnings while keeping your money accessible with a high-yield savings account. This type of savings account offers significantly higher interest rates than a traditional savings account while also giving you easy access to your funds. Additionally, you’ll benefit from compound interest, allowing your money to grow at a much quicker rate. Looking for more information about high-yield savings accounts? Read our article, “What Is a High-Yield Savings Account? Why Should I Have One?”
3. Review your monthly spending habits.
Creating a budget is only one piece of personal finance puzzle. Routinely tracking your spending and evaluating budget categories is a healthy practice to keep your finances in check. You don’t need a complete budget overhaul to improve your financial picture. A simple but effective money move is to review your streaming subscriptions, memberships, recurring app charges, and automatic renewals. You may discover expenses you are no longer using or opportunities to allocate money toward your savings goals.
Budgeting apps can help you track spending at a glance. First Bank’s eBanking and the First Bank On The Go mobile app include budgeting tools and spending analytics right in your online banking experience, allowing you to see spending and earning insights, budget performance, and savings progress.
4. Strengthen your financial security.
Protecting your accounts is just as important as growing your savings. Mid-year is a great time to update passwords, enable account alerts, review account activity, verify your contact information, and turn on card controls to monitor account activity.
Banking alerts can help you identify suspicious activity quickly and stay informed on recent activity. It’s easy to activate alerts in eBanking and the First Bank On The Go mobile app to keep an eye on your account. You can receive account alerts to notify you of low balance or large deposits, service alerts for new eStatements and when your account profile has changed, and debit card alerts to inform you of declined purchases, fraudulent activity, or card use at designated merchant types.
Additionally, confirming your contact information with financial institutions will make sure you receive important account notifications or alerts. Checking your contact information on file is quick and easy in First Bank’s eBanking and First Bank On The Go mobile app—just navigate to your profile. Notice something off? Update your email and phone number directly in eBanking or the mobile app. Need to update your address? A First Bank banker can quickly update your account information at your local branch or at 800-760-2265.
5. Plan ahead for the rest of the year.
The second half of the year often brings additional expenses to include in your budgeting. Back-to-school shopping, fall activities, holiday travel and gift purchases, and any end-of-year home projects can lead to higher spending. Planning for these expenses now can help reduce financial stress later on in the year. Set up automatic transfers in eBanking or the mobile app to a dedicated savings account for these upcoming expenses. Set it and forget to keep these savings goals funded without the hassle of monthly manual transfers.
A mid-year financial check-in doesn’t have to be complicated. The small steps you take today can help you stay focused, build confidence, and make meaningful progress toward your financial goals.
Looking for tools to help you save smarter and stay on track? Explore First Bank’s eBanking tools, financial calculators, and savings solutions designed to support you on your personal finance journey. At First Bank, we are here for you every step of the way.