A Midyear Personal Assessment

How to Stay Financially Grounded When the Economy Won’t Sit Still

We just spent time walking through what Wall Street sees ahead: slower growth, persistent inflation, market volatility, and no clear consensus on what comes next. But here’s the truth that rarely gets said out loud:

It doesn’t take a market crash to throw off your financial momentum.

The pressure shows up in smaller ways first. Job opportunities dry up. Raises stall. Projects disappear. Prices creep up faster than paychecks. Confidence drops, even if employment stays strong.

So this isn’t about whether the market goes up or down next quarter. It’s about whether you are set up to move forward no matter what. If conditions stay murky, if volatility sticks around, if the ground never fully settles  can you still make progress?

This is your midyear checkpoint. A personal assessment, not a forecast. Five key areas to evaluate. In each, you’ll find a set of questions to ask yourself, and one concrete action to take now.

1. Income Stability

Question: Is your income truly stable, or just untested?

We often assume things are fine because nothing’s gone wrong yet. But in a shaky economy, risk shows up as silence: no raise, fewer projects, disappearing opportunities.

Ask yourself:

• Have any projects, clients, or bonuses quietly disappeared?
• Is your workload steady, or noticeably lighter?
• If your company had to make cuts, would your role be safe—or expensive?

Action step: Make a list of three people you haven’t talked to professionally in a while. Reach out. Not to ask for a job, to stay visible. Network quietly before you need it.

2. Spending Creep

Question: Have you adjusted to a “temporary” standard of living that isn’t temporary anymore?

Spending often drifts upward when stress declines or income improves. That’s not bad. But in this economy, your comfort level today might not match your earnings next quarter.

Ask yourself:

• What used to be a treat but is now your norm?
• Would a 10% drop in income create a panic, or just a pivot?
• Are you buying things that still align with your values, or just because you can?

Action step: Do a 30-day “gut check audit.” Review last month’s transactions. Label each one: essential, valuable, or default. Then ask: what’s the cost of maintaining this lifestyle, and is it worth it?

3. Financial Flexibility

Question: Could you handle a surprise without borrowing or breaking down?

Flat wages, rising costs, and high interest rates don’t leave much room for error. This isn’t about fear, it’s about bandwidth.

Ask yourself:

• If you lost your job, how long would your cash buffer last?
• Do you have access to funds without raiding retirement?
• If you had to come up with $2,000 in 48 hours, what’s your plan?

Action step: Make one intentional deposit into your emergency fund this week. Even if it’s small. Then set a calendar reminder to do it again in 30 days. Small deposits done on purpose rebuild your buffer and your confidence.

4. Professional Leverage

Question: Are you growing, or just staying employed?

Stability in title doesn’t equal security in a downturn. Employers keep people who make themselves useful across more than one lane.

Ask yourself:

• When was the last time you learned something new at work?
• Are you known for one thing, or do people see you as adaptable?
• Have you asked for feedback, taken on a stretch project, or increased your visibility recently?

Action step: Pick one of three: ask to shadow someone in another department, sign up for a new skill training, or schedule a check-in with your manager to talk about growth. You’re not just protecting your job – you’re future-proofing your options.

5. Readiness to Pivot

Question: Could you respond to job loss like it was just another move not a crisis?

Too many people start updating their resumes after the pink slip hits. They react. They scramble. They treat job loss like a rare disaster instead of something that could happen to anyone.

Ask yourself:

• Is your LinkedIn profile up to date, or still half-built?
• If you needed references, would they be easy to reach?
• Do you have an updated resume ready to send?

Action step: Update one of these this week. Even better: schedule 30 minutes to do all three. This isn’t about living paranoid, it’s about operating like you’re your own company. Entrepreneurs constantly think about future opportunities. You should too.

6. Long-Term Growth Strategy

Question: Is your money positioned to grow, or just to avoid pain?

If you pulled back from the market at some point and haven’t gone back in, you are most likely missing out on the benefit of compound interest. Cash may feel safe, but it doesn’t move you forward.

Ask yourself:

• Have I confused “waiting for the right moment” with avoidance?
• Is my money earning a return that beats inflation or just sitting?
• Do I know what I’m invested in, or just hoping for the best?

Action step: Pick one fund, one account, or one retirement contribution and review it this week. Don’t overhaul everything. Just reconnect with what your money is doing right now.

Build the Habit Before You Need It

You don’t need a crisis to reassess. Make it a habit – twice a year, just like a checkup.
Where do you stand financially? Professionally? How much of your income is tied to one source? Are you growing anything outside of it – skills, savings, even a small side project?

Because the worst time to start a business is when you’re desperate.
The worst time to update your résumé is after you need it.
The worst time to figure out who you are professionally is when someone else decides they don’t need your role anymore.

This isn’t about paranoia. It’s about posture. Treat yourself like the business you are. Stay in motion. Keep options open. Next time there are whispers of layoffs, you’ll know: you’re not stuck – you’re already one step ahead.