HCPLive Network
PERSONAL FINANCE

Mid-Year Financial Checklist

Laura Joszt | Saturday, July 20, 2013
It’s now more than halfway through the year — do you know how your money is doing? Most likely, your New Year’s Resolutions have long since fallen by the wayside, but there are ways to get back on the financial wagon.
 
In the middle of the year, it might be easy to become lax with your finances. It’s summer and, typically, vacation time. Furthermore, there are no really pressing events to make you think about your finances.
 
People tend to set their budgets and goals at the beginning of the year and forget about them. And toward the end of the year, most people take a last look to see if there are any last-minute moves they can make to save on taxes.
 
H&R Block employed the knowledge of financial blogger Meg Favreau of Wise Bread to list some simple changes in case you haven’t been keeping up with your financial goals for the year.
 
Here’s her mid-year financial checklist:
 
• Check your 401(k) contributions
Make sure you’re taking full advantage of how much you can contribute.
 
• See if you can contribute more to your IRA
The maximum contribution is $5,500 in 2013.
 
• Retool your budget
Even a small change in your life could necessitate taking another look at your budget.
 
• Adopt one new frugal habit
Even if you have enough money to live on, frugality is not to be overlooked — some rich people got that way by being frugal.
 
• Set a specific goal
This will help if you start to slip up.
 
• Do a spending freeze
Eliminate all non-necessary spending if you need a financial jump-start.
 
Read more about them here.



RELATED ARTICLES
There have been quite a few hot IPOs this year. Alibaba and GoPro to name just a couple. But the real money was made before these companies even went public.
As the name suggests, Robo-advisors are not going to provide warm and fuzzy service like the human advisors to which investors are accustomed. But, Robos are less expensive, which brings up this question, “Can investors give up the good feelings a mortal imparts in exchange for paying less?”
A new study by Wells Fargo shows more than one-third (34%) of middle-class Americans aren’t saving for retirement at all. Here are 5 tips for those who need to get started.
RECENT CLINICAL ARTICLES
Women who survive breast cancer face a higher risk of depression that can linger and require antidepressants, according to a new study published online Oct. 27 in the Journal of Clinical Oncology
Competition between medical practices helps keep health care costs lower, according to a study published in the Oct. 22/29 issue of the Journal of the American Medical Association.
A new study suggests that high doses of vitamin D may not help prevent the return of bacterial vaginosis. The research was published in the November issue of the American Journal of Obstetrics and Gynecology.