CLEVELAND, July 14, 2017 /PRNewswire/ -- The year is past the halfway mark. Do you know where your money is going?

If your New Year's resolution centered on doing more to manage your money, summer is a great time to take stock. At KeyBank, we believe small steps pave the way to big changes, whether that change is moving into a new job, buying a new home or vehicle, or getting ready for retirement.

Your mid-year review doesn't require a major financial overhaul - feel free to focus on just a few areas. To help you get started, here's some thoughts from KeyBank:




    --  Start with the monthly budget you use to track spending and saving.
        "This is a good time to know whether typical recurring expenses such as
        food, utilities, healthcare and insurance are about what you anticipated
        when you set your budget," said Stephen D. Fournier, KeyBank Central New
        York market president, retail sales leader for Eastern New York and
        regional network sponsor for deposits.   Fournier suggests looking for
        significant spikes or drops in your spending and reallocate your money
        accordingly. For example, if your healthcare costs are less than
        anticipated, consider increasing the amount you set aside for emergency
        savings.




    --  Enroll in online banking and bill pay programs. Online banking gives you
        instant access to your balances so you can move money as needed to make
        the most of your various accounts.   "When it comes to managing your
        money, knowledge truly is power," said Jill M. Taylor, KeyBank Utah
        market president, retail sales leader for the Rocky Mountain region and
        regional network sponsor for digital banking and payments. Taylor also
        recommends tapping bill pay programs that might save money by helping
        you to avoid late fees.


    --  Mid-year is a good time to request credit reports and review credit card
        use, said Gary A. Chavoustie, New England retail sales leader and
        regional network sponsor for consumer lending.  "Apart from knowing your
        current credit score, checking credit reports is one more way to ensure
        no one has used your identify to obtain credit, leaving you holding the
        bills."

He also recommends taking a close look at current credit card statements so you can calculate interest and fees, as well as how much of your monthly income is required to pay credit card debt.

"You might decide to launch a mid-year campaign to cut back credit card debt. There's lots of options, such as picking one card you will pay off and "retire", or by consolidating debt by obtaining a home equity line of credit or a credit card with a substantial long-term 0 percent APR."

Like tracking spending, setting budgets and establishing goals, finding time for bi-annual financial wellness checks requires being willing to make change. But small money management changes made now can make significant in the long run that make the effort worthwhile.

This material is presented for informational purposes only and should not be construed as individual tax or financial advice. Please consult with legal, tax and/or financial advisors. KeyBank does not provide legal advice.

About KeyCorp:

KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $134.5 billion at March 31, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

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SOURCE KeyCorp