Your 2025 Summer Financial Checklist

Milica Ivaz
Jul 28
3 min read

A relaxed mid-year check-in

Summer’s finally here—and with it, a welcome change of pace. Whether you’re sitting lakeside, catching ocean breezes, or just enjoying longer evenings and slower mornings, it’s a great time to step back and take stock—not just of your schedule, but of your finances too.

The middle of the year is a natural checkpoint. You’re far enough into 2025 to know how things are going, but there's still time to adjust course if needed.

Here's a simple, no pressure checklist to help you feel more organized, more in control and little more financially confident going into the fall.

1. Take a Fresh Look at Your Spending and Savings

Has anything changed in your financial life this year?

Maybe your income’s shifted a bit?
Maybe expenses are creeping up without you noticing?

Now's the time to ask: Are you saving what you hoped to by now? And if not—why? There’s still time to catch up, or simply reset expectations for the rest of the year.

💡 Small step: Update your budget or net worth spreadsheet. Even just once a year helps keep your financial picture clear.

2. Give Your Investments a Quick Check-In

The markets have been doing their usual thing—ups, downs, and everything in between. Summer’s a good time to:

See how your investments are performing
Make sure your portfolio still reflects your goals
Rebalance if your mix of stocks and bonds has drifted

You don’t need to make big moves—just check if anything needs a light tune-up.

💡 Small step: If you’re not sure where to start, a quick review call with your advisor (aka me!) can go a long way.

3. Are You Using Your Tax-Advantaged Accounts?

TFSA: You’ve got $7,000 of room for 2025. Have you used some of it? Remember to check for any unused contribution room from the past years.
RRSP: Contributions reduce your taxable income—are you on track?
FHSA: New and powerful—great for future homebuyers. Contribution this year is $8,000. Remember that you will start accumulating contribution room in the year you open the account. Unused contribution room can be carried forward, but the maximum carry forward amount is $8,000.
RESP: Still one of the best ways to save for kids’ education. We recommend that you contribute up to $2,500 per beneficiary per year to maximize the grant, Be mindful that the lifetime contribution limit per beneficiary is $50,000.

Even small contributions now can add up by year-end.

💡 Small step: Set a monthly auto-transfer—even $100/month to your TFSA can make a difference. Register for CRA My account to check TFSA and RRSP contributions. https://www.canada.ca/en/revenue-agency/services/e-services/cra-login-services/register-cra-sign-in-services.html

4. Dust Off Your Will and Insurance

I know it’s not the most exciting summer activity—but reviewing your will or checking your insurance might be one of the most adulting things you do all year.

Is your will still current?
Are your beneficiaries up to date?
Do you have enough coverage for life, disability, or even travel insurance?

💡 Small step: Set a 30-minute timer one day this month. Review one document. That’s it.

5. Do a Quick Security Check

When was the last time you changed your passwords? Have you set up two-factor authentication for your financial accounts?

Identity theft is frustrating—and unfortunately, common. Let’s stay a step ahead.

💡 Small step: Pick one account to update your password and security settings today.

6. Let’s Plan a Quick Check-In

Summer tends to be quieter—and that’s exactly why it’s such a good time for a short financial review. No rush, no pressure, just a chance to see how things are going and what might need attention before fall.

If you’d like to book a time before I head off on vacation (August 4–15), I’d love to connect.

Wrapping Up

Your financial plan doesn’t need a full overhaul every season. Sometimes, just a few small updates can keep you aligned with where you want to be. And summer’s the perfect time to pause, reflect, and refocus—ideally with a cold drink in hand.

Here if you need anything, Milica Ivaz, Sensible Financial Solutions Inc.