It’s time for a midyear financial checkup, here are 3 things you should do with your money

It’s time for a midyear financial checkup, here are 3 things you should do with your money

With July 1 just two days away, we are almost officially halfway through 2021. It's always a smart idea to check in on your finances after the first half of the year to see where you stand, but it's even more crucial to do so in 2021 because of the pandemic's impact on our finances. You may have depleted your emergency fund last year if you were one of the millions who lost their job, or perhaps the reopening-induced spending surge is hitting your wallet extra hard this summer. Maybe the pandemic has shifted your financial priorities and you want to accelerate your debt payoff. These three areas of your personal finances — emergency funds, spending and debt — are what Elisabeth Kozack, managing director at , says individuals should pay attention to during their midyear financial checkup. An is essentially a savings account you set aside to cover any unexpected expenses, such as a surprise medical bill, sudden car maintenance or a home repair. By having an emergency fund to fall back on, you are financially prepared for when things go wrong so you don't have to withdraw funds from your checking account or long-term investments. The midyear mark