With summer on the horizon, now is the perfect time to pause and reflect: Are your finances on track for the year?
A mid-year financial health check allows you to reassess your goals and make adjustments before the year slips away. Whether you’re saving for retirement, planning to move house, or building a financial buffer, taking stock now can make a big difference.
5 Key Areas to Review:
- Savings and emergency fund – have you built (or maintained) 3-6 months of expenses?
- Pension contributions – are you maximising your tax allowances? For 2025/26, the annual pension allowance is £60,000.
- Investment performance – are your investments aligned with your risk profile and goals?
- Insurance policies – has anything changed that means your protection needs to be updated?
- Upcoming costs – holidays, school fees, home improvements? Plan ahead for big expenses.
Why It Matters:
Life moves quickly and financial plans should move with it. A regular financial health check can:
- Highlight small issues before they become bigger problems
- Help you stay focused on your long-term goals
- Give you peace of mind knowing you’re in control
If you’re part of the 40-65 age group, this is essentially important. This stage of life often includes big financial commitments – like helping children through university, planning for retirement or managing ageing parents’ care. A check-in ensures that your current plan reflects your changing priorities and responsibilities.
It can also be a good time to reassess your mortgage. Are you approaching the end of a fixed-rate deal? Could you be eligible for a better rate elsewhere? A mid-year check is an opportunity to reduce monthly outgoings and ensure your mortgage still suits your lifestyle.
And let’s not forget protection. Too often, clients take out life cover or critical illness insurance and never revisit it. But changes in income, relationship status, or family size can all affect what level of protection you need. Ensuring your cover still matches your current situation could be the most important thing you do this year.
How We Can Help
At Resolve, we make it easy. Our team can carry out a mid-year review and provide tailored advice to keep your finances healthy. We give you clear, actionable advice to help you make confident decisions.
Think of it like an annual check-up for your finances – an essential part of staying healthy and focused for the rest of the year.
Please get in touch if you would like to arrange a check-in on your financial wellbeing.
Please note: Investment carry risks. A pension cannot be accessed until age 55 (57 from 2028). Your home maybe repossessed if you do not keep up repayments on your mortgage.