The year's halfway over — and your finances deserve more than a quick glance. Whether saving for college, eyeing retirement, or just trying to stay ahead of tax season, a mid-year financial checkup is a smart way to course-correct before it's too late.

Here's what I recommend every individual (especially parents!) do this summer to protect your financial health.

Review withholdings

Start with your paycheck. Has anything changed in your family or income this year — a new job, raise, side business, or grown child moving out?

If so, now's the time to double-check your W-4 and ensure your withholdings still match your actual tax situation. Underpaying means an ugly surprise in April, and overpaying means you're giving the IRS an interest-free loan.

Use the IRS Tax Withholding Estimator or check in with your CPA to adjust accordingly.

Check on the budget (& reality!)

Summer's a great time to reflect on how you actually spent money versus how you planned to spend it. Has your grocery bill doubled? Are subscriptions piling up? Did travel costs creep in unexpectedly?

Take thirty minutes to review the first half of the year and adjust your budget for the rest of it. Remember to factor in back-to-school, holidays, and insurance premiums—those add up fast.

Maximize retirement contributions

If you contribute to a traditional or Roth IRA, you have until Tax Day 2025 to make 2024 contributions — but why wait?

If you can afford to add a little more each month, especially in the second half of the year, it can have a big impact. For 2024, the IRA contribution limit is $7,000 ($8,000 if you're over 50).

If you're self-employed, now's the time to revisit your SEP IRA or Solo 401(k) options.

Track big life events & your emergency fund

Planning to buy or sell a home, take on college tuition, or get married/divorced this year? These life events affect your tax liability and financial strategy in major ways. Don't wait until December to loop in your CPA or financial advisor.

If your income, expenses, or family size have changed, your emergency fund should too.

A good rule of thumb is to keep 3–6 months of living expenses in an accessible savings account. If you dipped into it recently, set a goal to rebuild by year-end.

Set a date with your CPA

We're not just for tax season. If it's been a while since we've talked, this is a great time to schedule a mid-year review. We can look at your withholdings, deductions, college savings, retirement plans, and any expected changes in income or expenses — and build a plan that works for you.

One final note: You don't have to do it all today. But a few intentional steps now can save you stress (and money) later. If you need help thinking it through, we're just a phone call or email away.