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Checklist for Your Mid-Year Finances

Regardless of income level, age, or occupation, managing your finances is important for everyone. It's crucial to periodically assess your budget, debts, savings, investments, and other financial goals when it comes to financial planning. Mid-year is an excellent time to assess your financial situation and determine whether you are on pace to meet your goals. We've put together a checklist of items to think about for your mid-year finances in Canada to assist you with this process.

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Examine Your Spending Plan

Reviewing your budget is the first step in managing your money. Making sure your income and expenses are in balance and that you are not overpaying in any one area is crucial. Check your budget from the beginning of the year to determine if your income, expenses, or financial objectives have changed. Examine any recurring payments more closely to determine whether they are still required, such as membership fees or subscriptions.


Examine your debts

The next step is to evaluate your debts. Examine the statements for your credit cards, loans, mortgages, and any other debts you may have. Determine your whole debt and the interest rates you are now paying. High-interest debts should be paid off first since they can quickly mount and become challenging to manage. Checking your credit score to determine if it has gotten better or worse since the start of the year is also a smart idea.


Evaluate Your Savings

Savings are an essential part of having a healthy finances. They give you a safety net in case of emergencies and assist you in reaching long-term financial objectives like home ownership or a comfortable retirement. If you want to know if you’re on schedule to reach your savings targets, have a look at your savings accounts, especially your emergency fund. It’s never too late to start saving if you haven’t already. By setting up monthly automated transfers from your checking account to your savings account, you might want to automate your savings.


Assessment of Your Investments

Mid-year is a great time to assess your investments if you have any. See if you’re on pace to meet your investment objectives by taking a look at your portfolio. Analyze the performance of your investments, and if required, think about rebalancing your portfolio. Reviewing your investment fees and contrasting them with those of alternative investing possibilities is also a good idea.


Review Your Insurance Policies

An essential component of financial planning is insurance. In the event of unforeseeable events like illness, accidents, or natural disasters, it offers protection. Make sure you have sufficient coverage by reviewing your insurance policies, which should include life, health, disability, and homeowner’s insurance. Consider changing your insurance if you’ve gone through any important life events, including getting married or having a child.


Evaluate Your Retirement Plan

Planning for retirement is essential, especially if you’re nearing retirement age. See if you’re on pace to retire comfortably by reviewing your retirement plan. Check your retirement resources, such as your 401(k) or RRSP, to see if you are making enough contributions to fulfill your retirement objectives. Now is the time to start retirement savings if you haven’t already.


Think About Your Tax Situation

Considerations for taxes must be made when managing your finances because they are an unavoidable aspect of life. Reviewing your tax position in the middle of the year is a great way to make sure you’re on track to pay the proper amount of taxes at the end of the year. If any adjustments are required, think about raising your withholding or paying anticipated taxes.


Plan Major Expenditures

Large expenditures can have a huge effect on your budget, such as a new automobile, house renovations, or vacations. The middle of the year is an excellent time to start budgeting for and planning for these costs. To avoid having to use credit cards or loans, think about setting aside money in advance for these costs. Also, you might look at financing possibilities like low-interest credit cards or loans with 0% initial APRs.


Look for Money-Saving Opportunities

Throughout the year, there are several chances to save money, and the middle of the year is a great time to look for them. Think about switching to a less expensive cell phone or cable plan, cutting back on consumption or adopting energy-efficient appliances to minimize your utility bills, or finding deals on regular expenses like groceries or entertainment.


Contact a Financial Advisor

Consider speaking with a financial advisor if you lack confidence in your capacity to handle your money or if you require assistance with financial planning. An expert can assist you in assessing your financial condition, creating a personalized financial strategy, and offering advice on various investment possibilities and approaches.



Mid-Year Checklist from National Debt Relief Canada

National Debt Relief Canada is here to help if you want to take charge of your money and pay down your debt. As the year’s halfway point approaches, now is an excellent time to take a step back and assess your financial situation.

We’ve put together a thorough checklist for mid-year budgeting to get you started. You will be well on your way to gaining financial security and freedom if you stick to these recommendations.

So don’t put it off any longer; take action today and begin working toward a healthier financial future. For professional guidance and assistance on your path to financial wellness, get in touch with National Debt Relief Canada. We can work together to make your financial goals a reality.

Our Clients 5-Star Reviews

Jennifer Chenier
Jennifer Chenier
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I was lost ... single mom... off due to Covid for 3 months .. did what it took to pay bills and look after my kids... and left with nothing but a tonne of debt I could not keep up with 😢. And then ....I met Connie.. Connie gave me my life back. The entire experience was like talking to my mother. She was full of compassion and knowledge and took me under her wing for this entire process. She turned tears into smiles and hope . She reassured me.. and made me feel like it was Going to be ok. I can’t thank her and the team (Paul) enough for helping me through this . I highly recommend National Debt Services to anyone looking for help with their debt . Start living again ❤️. Thanks Connie Jen
Katherina Preston
Katherina Preston
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"So glad I finally had the courage to make the call" Suma was amazing.. she guided me through my options and got the answers to all my questions. By the end of our very first phone conversation I had hope again...finally...no more sleepless nights worrying my debt ....Thank you National Debt Relief Services
Chris V
Chris V
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I would just like to thank Suma for really making feel comfortable throughout this entire process. Everyone tells you to watch out for gimmicks, quick fixes, and everything else that comes with Debt. Ive had other companies who had made promises and under delivered. However Suma and her team are quick to provide the right answers and guide everyone in a way towards better credit. She has made it seamless with great communication and availability. I have personally referred her to several of my closest friends and i would recommend her to anyone else looking for consolidation.

Top 5 Key Benefits of our Ontario Debt Relief Program:

To know more what you can benefit from our Ontario Debt Relief Program, simply try our Debt Consolidation Calculator below and one of our debt specialists will get in touch with you and provide you the best debt relief option that fits your situation.

Do you want to experience Peace of Mind from all of these?

  • Credit Card Debts
  • Personal Loans
  • Car Loans
  • Taxes
  • HST
  • 407
  • Household Bills
  • Payday Loans
  • Student Loan
  • and more…

Talk to us! We will help you get out of debt.

We will help you reduce as much as 75% of your debts and consolidate it into a single affordable monthly payment. Your creditors will stop harassing you and all interest will freeze if you get into our Ontario Government Debt Relief Program.

Many Ontarians are already benefiting from our Debt Relief Program, YOU should too!

Find out how much you can write off portion of your debts by getting your Free Savings Estimate below. A debt specialist from National Debt Relief Services in Ontario will discuss all options and provide you tailor-fitted Debt Relief Program.

We will help you compare
the options and savings of all formal debt relief programs available to you.


No contact details required to find out if you qualify

Frequently Asked Questions

A Debt Consolidation is a negotiated debt settlement offer made between you and your creditors with the help of a Debt Relief Agency in Ontario. Some key benefits of Debt Consolidation are interest-free program, no upfront fee required, combined monthly payment into one affordable amount, no lawsuits, and many more.

Yes, your assets are safe from creditors. A licensed debt relief agency in Ontario will help you come up with an offer to your creditors that will make sure your assets will be out of the paper.

No, in fact, this is one of the great advantages of a Debt Consolidation Program. All wage garnishment will stop from the day you filed the proposal.

The effect on your credit score is not going to be severe. Your credit score will most probably go to R7 Rating and will remain in your credit report for another 3 years after you completed the program. This means that it will not be permanent and you will still be able to rebuild your credit score.


This varies depending on the proposal you will be discussing with the help of a certified debt relief agency. It is also worth noting that debt consolidation cannot exceed more than 5 years.

If a debt is shared, you need to file a joint debt consolidation offer to your creditors. However, in most cases, in which the debts are individually incurred will have no impact on your spouse.

After three missed payments, your debt arrangement with creditors will be broken and you will end up getting chased again for the original debt amount plus interest.

A debt consolidation offer can be paid off earlier if you can. In this way, you receive your “Certificate of Completion” sooner and you can immediately start rebuilding your credit score. 

National Debt Relief Services Ontariois a certified Canadian Debt Relief Agency that offers FREE CONSULTATION to your debt consolidation needs. We value the trust given to us by our clients by making sure your personal information is confidential and private. Our personalized plans are designed to tailor fit your financial capacity. Our specialists will get in touch with you by simply answering a few questions thru the link provided below.

Why Trust National Debt Relief Services?

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See What Our Customers Have To Say

Dawn Friesman
Dawn Friesman
I've been working with Allicia Macdonald shes very professional and sweet. I cant thank her enough for helping me rebuild my life. Thank you so much.
Chantal Rolfe
Chantal Rolfe
Today I had a wonderful experience with Rachael, she was Very professional I was very happy with what we talked about today she was very Caring I highly recommend national debt relief services hundred percent😃
Jennifer Magill
Jennifer Magill
Brittany was awesome, she explained everything clearly and offered solutions every step of the way. It’s always nice to hear that you could do this or that, I didn’t feel forced to do anything and was able to decide clearly. Thank you 🙏🏼
Dave Tonnos
Dave Tonnos
This company will work with you and through any difficulties that may arise. They actually hold themselves accountable, how refreshing during troubling economic times.
marian kamara
marian kamara
I have a great experience working with Suma, she work me through the program, takes her time to explain everything to me about how the program work, what I need to do from start to end of the process. I’m so thankful to God for sending an angel Suma to help relief my debt. It’s a great company to work with. I will recommend this program for anyone in debt like me.
Donna Hutchings
Donna Hutchings
Connie B. was absolutely awesome! She explained everything in detail to me. Very professional to work with and takes the time with you. She really has compassion. So glad she helped me out. Thank you
lynn collins
lynn collins
Joel has made this so simple and effortless he made sure i was well informed and making the right decisions for my situation i would recommend joel at national dept Relief to anyone in hardship with there bills thanks alot joel i really appreciate everything you have done for me thanks!! 5 stars for sure! and its chad ball not my mom lynn lol
Billy Bong
Billy Bong
I had a great experience with Brittany, so helpful and understanding. Never felt like I was being pressured or rushed into anything. She was always there with answers to my questions. Thanks for all the help and peace of mind you helped me achieve.
Amber-lyn Miller
Amber-lyn Miller
Let’s Just Put It Simple....... Not All Hero's Wear Caps........I spoke with Suma over a fairly lengthy period of time because of my busy schedule and lack of free time on my part, and she was not only extremely patient and understanding, but also beyond helpful And informative. Any question I had and no matter how many times she had to explain it to me she took her time to make sure I completely understood every single step and process before she moved on to the next thing. I have been so stressed out and worked up about my debt and trying to figure out how to fix it all since I know I will not be returning to work at all in the future because of medical issues and being 26 with that realization makes things just that more stressful but Suma made everything so easy and my payments are $100 a month for less then 5 years with no interest or penalties for early pay off. I’m so glad that I didn’t settle with some other place that was asking for $350 + a month for 7-12 years and paying off early would cost you more.
Jessica Preston
Jessica Preston
Caroline F. was phenomenal, she was so helpful, understanding and compassionate. Caroline did not make me feel bad for my mistakes, she was supportive and caring, she helped me through this dark time in my life I'm so incredibly happy I crossed paths with her. Thank you Caroline for being so wonderful to me! <3

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