Mid-Year Financial Check-Up: 5 Steps to Take Now

Written By Naazma Garcia
Aug 5, 2022


Many of us take stock of our finances at the beginning of the year in preparation for tax season, but planning a mid-year financial check-up allows you to modify and course correct. That could mean paying down your debt more aggressively or contributing more to your retirement plan after a raise. 

Whatever your reasons, a mid-year financial check-up could save you thousands to tens of thousands of dollars. Here are 5 steps to take now.   

1. Inspect Your Credit Report

Having a solid credit score comes in handy when you are looking to rent an apartment, buy a house, open a new credit card, start a business, or even get a new job. 

Make a habit of checking your credit score for signs of identity theft or activity that results in a penalty. Checking your credit doesn’t have to result in your score taking a hit. There are plenty of apps and websites that will provide a free credit report. 

2. Plan For Tax Season

Don’t wait until the new year to start thinking about your taxes. A little planning can go a long way. Take time for periodic maintenance of records of tax-deductible expenses, like out-of-pocket medical expenses, charitable contributions, and mortgage interest. 

You can also reduce your taxes by contributing to tax-advantaged retirement accounts, like a 401(k) or IRA, and if you have investments that are doing poorly, the IRS allows you to deduct up to $3,000 in capital losses from your ordinary income each year. 

3. Evaluate Your Budget

Budgeting is a sure-fire way to plug up any leaks in your finances. You may be surprised to find that you’ve been paying for streaming or software subscription services that you haven’t used in months. Creating a budget will help you visualize your spending habits and make cuts or diversions where necessary. 

Make plans for an emergency fund in your budget. This fund should provide you with enough funds to support yourself for about six months to a year in the event that you lose your job or are struck by misfortune. 

4. Renegotiate Bills

You might be surprised at the possibility of renegotiating some of your most important and expensive bills. When was the last time you spoke with your car insurance company? If you have been a good driver, look up competitor rates and see if you can get a better deal with your insurer. 

The same goes for your cell phone, internet, and cable bills. For example, sometimes cell phone companies offer special deals for new customers. If these new deals are better than the one you have, call them up and remind them that you have been a loyal customer, why shouldn’t you have access to this new deal? 

5. Manage and Prioritize Your Debts

The best way to save money is to get rid of your debt as soon as possible. Has your debt been increasing or decreasing since the beginning of the year? If it’s increasing, you need to review your budget and find out what’s going on. 

Debt is particularly toxic in an economic environment where interest rates are on the rise. Fortunately, you can tackle your debt quickly by working with a debt settlement company that will negotiate with your creditors, allowing you to pay back less than you owe. 

Trust and experience are what make a good debt settlement company. Americor has relieved $2 billion dollars in debt in over 30 states. They are fully accredited by the Better Business Bureau (BBB), the American Fair Credit Council (AFCC), and the International Association of Professional Debt Arbitrators (IAPDA). With over 700 employees, Americor can tailor the optimal solution to your situation and help you navigate these uncertain financial times. 

Determine if you qualify for debt settlement, get a free debt analysis to determine if debt consolidation is viable, and receive credit counseling by talking to a certified debt consultant today.

Click here to apply: https://apply.americor.com/new  

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Americor provides debt solutions to thousands individuals and families all over the country. We’re a next-generation debt relief company with a proprietary platform designed to help clients get out of debt quickly. Together we’ll develop a strategy for you to enjoy a debt free lifestyle. Learn more about how Americor can help relieve the burdens of debt today.

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We provide debt resolution services. Our clients who make all monthly program payments save approximately 40 – 50% of their enrolled debt (average of 43%) upon successful program completion, before program fees. Fees are based on a percentage of your enrolled debt at the time of starting the program and range from 15%-25% of your enrolled debt. Programs range from 20-48 months. Clients must save at least 25% of each debt due to an enrolled creditor before a bona fide settlement offer will be made. On average, clients receive their first settlement within 4-7 months of enrollment and approximately every 3-6 months thereafter from when the prior debt was settled. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Our program is not available in all states; fees may vary by state. Some programs may be offered through The Law Firm of Higbee & Associates d/b/a Advantage Law. The use of debt resolution services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Any amount of debt forgiven by your creditors may be subject to income tax. Clients may withdraw from the program at any time without penalty and receive all funds from their dedicated account, other than funds earned by the company or fees paid to third-party service providers, as may be applicable. Read and understand all program materials prior to enrolling. Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt relief companies. To determine the offers you may be eligible for, Americor conducts a “soft credit pull.” This credit pull does not impact your credit score, creditworthiness, or ability to obtain credit from other sources. The soft pull is not a tradeline entry, it does not report against your score and will only take a few minutes.

Americor Funding, LLC (18200 Von Karman Ave, 6th Floor Irvine, CA 92612) is fully accredited by the Better Business Bureau (BBB), the American Fair Credit Council (AFCC), and the International Association of Professional Debt Arbitrators (IAPDA). CA Department of Financial Protection and Innovation (DFPI) License # 603K913.

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