Your mid-year money check-in: 5 things worth understanding
The middle of the year is a great time to check in on more than just your calendar.
Whether you’ve been investing for years or only recently got started, taking a few minutes to review your finances can help you stay on track and make more informed decisions for the months ahead.
Think of it as a health check for your money. You don’t need to make major changes. Sometimes, the biggest difference comes from simply understanding where you are today.
Here are five things worth checking.
1. Are your financial goals still the same?
Life changes, and so do your priorities.
Maybe you’re now planning a holiday, saving and investing towards your first home, thinking about starting a family, or simply building long-term wealth.
If your goals have changed, it might be worth reviewing how you’re investing towards them. Having clearly defined goals can make it easier to stay motivated and measure your progress over time.
If you use Raiz, creating separate Jars for different goals can help you organise your investing and keep each goal in focus.
2. Are your recurring investments still working for you?
A recurring investment is designed to make investing part of your routine.
But your circumstances can change throughout the year. A recent pay rise, changes to your household expenses, or new financial commitments might mean it’s worth reviewing the amount you’re investing regularly.
If increasing your recurring investment isn’t realistic right now, that’s okay too. Consistency is often more important than making large changes all at once.
The best approach is one you can comfortably maintain over time.
3. When was the last time you checked your super?
Superannuation is one of the biggest investments many Australians will ever have, yet it’s often one of the least reviewed.
A mid-year check-in is a good opportunity to make sure your super is still working for you.
Here are a few simple things to look at:
- Is your employer making contributions correctly (noting that the rules are changing)?
- Are your personal details and beneficiaries up to date?
- Do you have multiple super accounts that could potentially be consolidated?
- Is your current investment option still appropriate for your goals and investment timeframe?
- Have you reviewed the fees you’re paying?
Even if retirement feels a long way off, regularly checking your super can help you stay engaged with one of your most important long-term investments.
If you have a Raiz Invest Super account, it’s also a good time to review your investment option and make sure it still aligns with your long-term goals.
4. Are you making the most of tax time?
Tax time isn’t just about lodging your return. It’s also an opportunity to better understand your investments.
Depending on your circumstances, your investments may generate income or capital gains that have tax implications.
If you’re a Raiz customer, your tax statement is available within the app when it’s ready, making it easier to access the information you may need when preparing your tax return.
If you’re unsure how your investments affect your tax position, consider speaking with a registered tax adviser.
5. Have you learned something new this year?
Financial confidence doesn’t come from knowing everything.
It comes from continuing to learn.
Whether it’s understanding diversification, learning how different investment options work, or simply becoming more familiar with market movements, every small piece of knowledge helps build confidence over time.
The more informed you are, the more comfortable you’ll often feel making decisions that align with your own goals.
Small check-ins can make a big difference
You don’t need to completely overhaul your finances every six months.
Sometimes the most valuable thing you can do is pause, review your progress, and make small adjustments if they’re needed.
Investing is a long-term journey. Regular check-ins can help ensure your habits, goals and investments continue to work together as your life evolves.
Ready for your mid-year review?
Take a few minutes to open the Raiz app and review your goals, recurring investments and portfolio. Even small updates today can help you stay focused on where you’re heading.
Don’t have the Raiz App?
Download it for free in the App store or the Webapp below:
Important Information
This blog has been issued by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) as Responsible Entity of the Raiz Invest Australia Fund (ARSN 607 533 022).
Raiz Invest Australia Limited (ABN 26 604 402 815) (Corporate Authorised Representative of Instreet Investment Limited ABN 44 128 813 016, AFSL 434776) is the promoter of Raiz Invest Super, a Division of AMG Super. The Product Disclosure Statement (PDS), Member Guide and Target Market Determination (TMD) are issued by Equity Trustees Superannuation Limited (AFSL 229757, RSE Licence No L0001458) as Trustee of AMG Super.
The information has been prepared without taking into account your objectives, financial situation or needs. Before acting on such information, you should conduct your own review or consult a financial advisor before making a decision to invest. Please read the relevant PDS and any associated reference documents before making an investment decision. In accordance with the Design and Distributions Obligations, we maintain TMDs for our Funds. All documents can be found on the Raiz website www.raizinvest.com.au, or calling the Customer Support team on 1300 754 748. Please note that past performance is not a reliable indicator or guarantee of future performance. Historical returns, forecasts, and market commentary are provided for general informational purposes only. All investment carries risk and may result in loss of capital.
