How to Save by Resetting Financial Goals at MidYear


The lazy days of summer are over and September brings new energy as everyone begins to focus on what needs to get done before the end of the year. It’s a time to take a fresh look at your financial health and recalibrate any items that need to be adjusted.


Take a look at your spending over the last several months. Determine if your monthly spending matches your budget. If it doesn’t, look at areas where you need to adjust your spending habits so they fall in line with your financial goals.


As a general rule, it is recommended that you have 3-6 months of your average monthly living expenses in a savings fund that is easily accessible in times of emergencies. These funds can be built up quickly by selling unused or unneeded items that you may already own.


The quickest way to increase your cash flow is by eliminating your debt. The cost of interest and fees on credit cards, store credit and mortgages adds up quickly.

Review your current non-mortgage debt so you have a clear picture of your status. Use the “Snowball” method by paying off the smallest debt first, then rolling the funds used to pay off the smallest debt into the next largest debt. As each debt is paid off, the amount you can apply to each subsequent debt will “snowball” until it is all eliminated.


It is a best practice to have your auto and homeowner insurance reviewed every 3 years. Talk to an Independent Agent so they can review your needs, verify you have correct coverage and collect proposals from multiple companies to determine if you can reduce your premiums.

Make sure to review your Long Term Disability and Life Insurance overages also. As your life stages change so will your insurance needs.


Review your Financial Plan. Determine if you are still on target with your retirement planning and savings.


Review all your investment and life insurance documents. Make sure they are all up to date and the correct beneficiaries have been documented.

Consolidate all your important documents such as your insurance policies, legal documents, bank and credit card contact information. Save them in a safe and secure location where you will have quick access during any emergency.


Some of these steps may seem overwhelming or you may not know how to start addressing them.

At Kuderer Financial we specialize in simplifying the financial lives of our clients. Set up an appointment today where we will review your financial status. Together we can build a plan that will get you on target to reach your goals.