Mid-year is usually a good time to take stock of your financial situation . While it's obviously a good idea to keep an eye on your finances throughout the year, the mid-year review allows you to become aware of your financial situation, especially when the context is marked by inflation . By assessing your situation, it becomes possible to identify areas for improvement and find solutions to better manage your money.
The financial report
The financial balance sheet consists of evaluating one's net worth, that is, what one owns minus what one owes . This is an ultimate figure allowing one to compare one's current situation with that at the beginning of the year. By examining one's assets and debts in this way, it is of course possible to determine whether one's budget is positive or rather negative.
To improve your financial situation
Improving your financial situation obviously involves increasing your income, reducing your expenses, or both . It is therefore important to review your expenses to ensure that they are aligned with your values and financial goals , while it is often easy to spend simply to compensate for your stress or guilt.
Optimal financial management
To optimize your financial management, don't hesitate to look for social programs to which you are entitled , diversify your sources of income by using your skills and plan your expenses in order to avoid impulse purchases.
Doing a mid-year financial review is essential to becoming aware of your financial situation , identifying ways to improve it and putting strategies in place to better manage your money.
To get Dominique Lépine's advice and take the time to analyze your finances in order to be able to achieve your long-term goals , take a few minutes to watch this video!
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