It's the midpoint of the year, and financial experts say now is a good time to reassess your finances and make adjustments before 2026 ends.
A recent Bankrate survey found nearly 1 in 4 Americans have no emergency savings at all, but experts say a few small changes now can help you finish the year on stronger financial footing.
Matt Nawrocki, of Scottsdale, Arizona, says he is using the midyear mark as motivation.
"I think it's important to be able to look back at your spending habits and ensure that I finish out the year strong with a good balance sheet," Nawrocki said.
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For Nawrocki and another consumer in Scottsdale, Allyson Lambert, that means using apps — like Copilot and Rocket Money — to track every dollar.
"It's a good time to look at what you've spent so far and how you can reduce expenses. Even five dollars matters,” Lambert said. "You can check it daily, and that helps with decision-making too, to see if you're staying in budget.”
Smart shopping expert Trae Bodge, of truetrae.com, says if you're not where you hoped to be, don't give up.
"A lot of us here, we are in the middle of the year, and we look at our finances, and we're not where we want to be, and that's okay," Bodge said.
Bodge recommends making an emergency fund a priority, even if you can only set aside a small amount each month.
"Treat it more like a bill. Maybe it's $10 a month, maybe it's $100 a month, and that will be very meaningful in the long run," Bodge said.
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To free up extra cash, Bodge says to take a close look at monthly bills and subscriptions.
"Look at your subscriptions and be really honest: are you using all of those streaming services and streaming channels?” Bodge said. “Look at your memberships. Are those items that are being delivered every month? Do you really need them, or can you kind of scale back a little bit?”
Nawrocki summed up his approach to finishing the year strong.
"Spend wisely,” he said. “But have a little fun too. Have a plan.”
This story was originally published by Jane Caffrey with the Scripps News Group in Phoenix.
