Every January we make plans. By July, most of us have forgotten them.
Mid-year is the best moment to check, because there's still time to change the result. It doesn't need to be a big review. Fifteen minutes, a notebook and honesty will do.
Step 1: Look back at what you intended
Open your January notes, or recall your rough goals. Write them down: savings targets, debts to reduce, protection to arrange, a big purchase, a trip.
If you didn't write any, that's fine. Write what you wish you had decided.
Step 2: Check the numbers
For each goal, ask:
- Where am I now? Actual amount saved, debt remaining, task done or not.
- Where should I be by now? Half the year gone means about half the goal.
- What's the gap?
Be specific. "I wanted to save ₱60,000. I've saved ₱18,000. By now I should be at ₱30,000." That's a clear gap.
Step 3: Find out why
Gaps usually have one of a few causes:
- The goal was too big for the income.
- An unplanned expense appeared, which is life, not failure.
- The system wasn't automatic, so saving relied on willpower.
- The goal stopped mattering, and that's allowed.
Knowing the cause tells you what to adjust.
Step 4: Adjust the plan, not yourself
Options for each goal:
1. Keep it, and increase the monthly amount to close the gap. 2. Shrink it, to something realistic for the rest of the year. 3. Move it, to next year. 4. Drop it, if it no longer fits.
All four are legitimate. The mistake is keeping a plan you've silently abandoned.
Step 5: Check the foundations
While you're here, look at the basics:
- Emergency fund: is it where you want it to be?
- Protection: have there been changes, such as a new baby, a new loan or a new job, that mean your coverage should change?
- Premiums: are they paid and current? Is the payment method up to date?
- Beneficiaries: do they still reflect your wishes?
- The calendar: what big dates are coming in the second half?
Step 6: Pick one change
Not five. One. Increase a standing transfer. Fix a beneficiary. Cancel a subscription. Book a conversation with your advisor.
Schedule the next one
Put a date for the year-end review in your calendar now. It will be easier because you've done this one.
Half a year is a long time to drift and a short time to fix. Fifteen minutes today is a good trade.
The Family Money Map at lifereadywithvenus.com has a page for this, free and with no sign-up.
