The arrival of June can only mean one thing: summer is at our doorstep. While this summer is a little different than usual, our new reality may create some opportunities to give your money a little TLC. Here are five ways to improve your finances in June.
HAVE A MID-YEAR CHECK-IN
With June being the halfway point of the year, take some time this month to do a mid-year check-in on your finances. Suffice to say that 2020 has been anything but normal, so there’s a good chance you’ve already started thinking about revisiting and maybe even adjusting the plans you made at the start of the year. This might involve tweaking your budget, consolidating your debt, or just making sure you can stay the course. Whatever your financial situation, make sure you have a plan in place to carry you through the rest of the year and beyond.
TACKLE SOME FINANCIAL TASKS
With homeschooling wrapping up for summer break (cue a collective sigh of relief) and many workplaces beginning to approach a slower season, you may find yourself feeling more freed up than you have in months. Use the extra time to knock out a few basic financial tasks, such as checking your credit score (which you can now do on a weekly basis for free) or setting your bills to automatic payment. A little effort now will allow you to enjoy your well-deserved time off in the coming months.
CONTINUE TO SAVE
Let’s face it: No one is thrilled to be facing cancelled vacations and a summer without sports. But as the saying goes, when life hands you lemons, make lemonade; the absence of traditional summer activities means you may have some extra cash you could be saving. While it may not feel fun now in the moment, you’ll appreciate it down the line when we can all resume our favorite activities.
HAVE A MONEY TALK WITH YOUR PARTNER
The month of June is also the beginning of wedding season, and while any ceremony or party you’ll attend will likely be virtual, you can still capture the spirit of the season by having a money chat with your partner. Given the circumstances, your roles may have shifted financially, so approach these conversations with both care and compassion. By keeping an open line of communication, you can work together to take the necessary steps to feel more secure in your financial future.
CONSIDER THE HOUSING MARKET
With stay-at-home orders still affecting some parts of the country, you may be feeling, well, sick of staying at home. If you’ve been renting and have been on the brink of buying, now could be a good time to start the process, thanks to low interest rates and warmer weather that’ll be ideal for attending an open house or two. After all, settling into a place you can truly call your own might not be the worst way to spend a summer at home.