EOFY Reset: Your No-Fuss Financial Checklist for 2025
As we approach the end of the financial year, now’s the perfect time to pause and take a closer look at your personal finances. Whether you're running a household, managing a mortgage, or building toward retirement, a mid-year review can help you finish the year stronger, take advantage of tax opportunities, and reset for what’s ahead.
And the good news? It doesn’t have to be complicated. With a bit of structure, and 30 to 60 minutes of your time, you can make meaningful progress.
Here’s a practical, no-fuss guide to your mid-year money check before 30 June.
1. Review Your Income and Expenses
Start by getting clear on how much has come in and where it’s gone.
Look at your bank and credit card statements from the past 6 months.
Identify regular fixed expenses (mortgage, rent, utilities) and variable ones (groceries, subscriptions, dining out).
Look for expenses that have crept up or no longer serve you, like rarely used subscriptions or direct debits you’ve forgotten about.
Why it matters:
Understanding your cash flow now helps you make informed decisions before the new financial year begins. Even small adjustments can create more breathing space.
2. Check Your Superannuation Contributions
Super is one of the most tax-effective ways to build long-term wealth but many people only think about it once a year (if that).
Log into your super fund and check how much you’ve contributed this financial year.
The annual concessional (pre-tax) contributions cap is $27,500. If you’re under this cap, you may be able to make a top-up before 30 June.
If you’ve had lower contributions in recent years, you may also be eligible for carry-forward contributions using unused cap space from the last five years.
Why it matters:
Extra contributions now could lower your tax bill and boost your retirement savings—without making a massive impact on your day-to-day budget.
Tip: Make sure contributions are processed by 30 June to count for this financial year.
3. Review Your Mortgage Strategy
EOFY is a smart time to take a fresh look at your home loan.
Ask yourself:
Is your interest rate still competitive?
Has your fixed rate expired or is it due to end soon?
Are you making extra repayments or using an offset account effectively?
If you haven’t reviewed your mortgage in the last 12 months, it might be time to check in. Even a small rate reduction or smarter repayment strategy could save you thousands over time.
Why it matters:
Your home loan is likely your biggest expense, so even a minor change here can make a big difference.
4. Track Your Debt Progress
Aside from your mortgage, take a look at any personal loans, car loans, credit cards or Buy Now, Pay Later services.
Are you paying more interest than you need to?
Could any of this debt be consolidated or paid down faster?
Do you have a clear plan to reduce high-interest debts first?
Why it matters:
The longer expensive debt lingers, the more it costs. Tackling it now, even with a small increase in monthly repayments can set you up for stronger financial health heading into the second half of the year.
5. Get Your Documents Ready for Tax Time
While you’re reviewing your finances, start preparing for tax time.
Make sure you:
Collect receipts for any deductible expenses (e.g. work-from-home costs, donations, investment-related fees)
Review any income from shares, property, or side businesses
Check if you’re eligible for tax deductions on personal contributions to super
Why it matters:
Organising these now means less stress in July and a better chance of maximising your return.
6. Revisit Your Financial Goals
Remember those financial goals you set at the start of the year? Now’s the time to check in.
Are you on track to meet your savings or investment targets?
Has your situation changed since January?
Do you need to tweak your budget, redirect savings, or reset expectations?
If you haven’t set goals yet, this is the perfect time to start. Think about where you want to be by the end of the calendar year, and break it into small, monthly steps.
Why it matters:
Clear goals keep your financial decisions grounded and purposeful, especially when life gets busy.
7. Book a Financial Check-In
Sometimes all it takes is 20 minutes with someone who knows what questions to ask.
That’s why we’re offering complimentary 20-minute sessions to help you review your current position, talk through any concerns, and make the most of the months ahead.
Whether it’s about your mortgage, super, or cash flow, we’re here to help you reset with confidence.
Book your session here: https://financialwellnesshub.as.me/complimentary-session
It’s a no-pressure, one-off chat designed to give you clarity and confidence as you take your next steps.
Final Thought
A mid-year financial check doesn’t need to be complicated. A handful of small actions taken now can set you up for a smoother tax time, better decision-making, and a more confident financial position for the rest of 2025.
Start with one step. The rest will follow.
Click here to download the Mid-Year Money Check EOFY 2025 Checklist (PDF)
By Brett Tarlington