Why Mid-Year Matters

The halfway point of the year is a great opportunity to pause, reflect, and make strategic adjustments. A mid-year financial check-in gives you the clarity you need to move forward with confidence, realign your goals, and avoid surprises in the second half of the year.

In this post, we’ll walk through the key areas to review, what to look for, and how to use the insights to make smarter decisions for your business.

Review Your Year-to-Date Financials

Start with your profit and loss statement to get a clear picture of your income and expenses so far this year. Are you on track with your revenue goals? Are certain expenses higher than expected?

Action Steps:

• Compare your actual income and expenses to your budget or forecast.
• Look for trends: What months were strong? Where did things dip?
• Identify areas where you’ve overspent or underspent.

Take a Cash Flow Snapshot

Cash flow is the heartbeat of your business. Even if you’re profitable on paper, cash flow issues can create stress and instability.

Action Steps:

• Review your cash flow statements for the past six months.
• Identify periods of tight cash and what caused them.
• Check how much buffer or emergency savings you currently have.

Analyze Your Client & Revenue Breakdown

Not all revenue is created equal. It’s important to understand where your income is coming from and whether it’s sustainable.

Action Steps:

• List your top sources of revenue by service, product, or client.
• Evaluate how much revenue is recurring vs. one-time.
• Consider whether you’re too reliant on one client or income stream.

Audit Your Expenses & Find Savings

Small leaks can sink a ship. Mid-year is a great time to assess whether your spending aligns with your business priorities.

Action Steps:

• Review subscriptions and tools. Are you still using them all?
• Identify any “nice-to-haves” that can be paused or canceled.
• Check for opportunities to renegotiate contracts or find better deals.

Check Your Tax Planning Progress

If you set aside money for taxes each month, now is a good time to check your progress and make adjustments if needed.

Action Steps:

• Review how much you’ve saved for taxes so far.
• If your income has increased, consider increasing your monthly set-aside.
• Book a mid-year meeting with your tax pro if anything significant has changed.

Refocus Your Goals for the Next 6 Months

Once you’ve looked back, it’s time to look ahead. Use what you’ve learned to adjust your goals and create a focused plan.

Action Steps:

• Revisit your revenue and profit goals. Are they still realistic?
• Identify 1–3 key financial goals to focus on for the rest of the year.
• Adjust your budget, offers, or pricing as needed.

Make This a Habit

Doing a financial check-in doesn’t have to be overwhelming. Set aside a few hours, make it cozy (coffee, music, your favorite notebook), and turn it into a CEO-level ritual.

Taking time to reflect and reassess mid-year helps you stay on track, avoid surprises, and finish the year strong.

Want to make your next check-in even easier? Let’s chat about how I can support your financial strategy year-round!