Mid-Year Financial Check-In

Summary

Jill on Money with Jill Schlesinger

Episode: Mid-Year Financial Check-In

Date: July 17, 2026

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Episode Overview

In this special mid-year episode, host Jill Schlesinger discusses practical and timely financial strategies to help listeners assess and improve their money management as 2026 reaches its midpoint. Avoiding jargon, Jill and her CBS Mornings co-hosts dive into actionable advice for finding hidden savings, optimizing investments, staying on top of estate planning, and wrangling rising insurance costs. The episode is fast-paced, friendly, and filled with easy-to-implement tips to help anyone reach their financial goals.

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Key Discussion Points & Insights

1. Finding Hidden Money in Your Budget

Timestamps: 03:09 – 04:39

• Jill’s Top Mid-Year Tip:
  “You have to look at how you're spending your own money. Like, the foolproof way is to pay attention.” (Jill Schlesinger, 03:16)

  • She notes that automating bills often leads us to ignore our actual spending.
  • Suggests reviewing credit card and bank statements for recurring charges, unused subscriptions, and small leaks.

• App Subscriptions:

  • CNET study: Average household spends over $1,000/year on apps and streaming.
  • Many overlooked services can add up to $200/month being wasted. (04:10)

• Tips for Cutting Subscriptions:

  • Use apps like Rocket Money, Bobby (Apple), or Subby (Android) to find and cancel unused subscriptions. (07:10)
  • Review accounts like Apple Pay and Google Pay for reoccurring charges.

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2. Investment Checkup & Rebalancing

Timestamps: 04:42 – 06:13

• Why Mid-Year Matters:

  • “What I want to point out is that midway through the year, things might have gotten out of whack in your retirement account.” (Jill Schlesinger, 04:56)
  • For example: If the stock market rallies, your allocation may now be riskier than you intended.

• Rebalancing Tips:

  • Most retirement accounts let you easily rebalance (e.g., back to 70/30 or 80/20 stocks/bonds).
  • “It forces you to sell when things are up and buy when things are down. That is very hard to do.” (05:22)
  • Outside retirement accounts, be mindful of tax implications before selling.
  • Be proactive, not reactive.

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3. Estate Planning: Everyone Needs It

Timestamps: 06:13 – 07:10

• Jill’s Three Essential Documents:

  1. Will
  2. Power of Attorney
  3. Healthcare Proxy

• “This is not about having tons and tons of money and estate taxes. This is putting things in order.” (Jill Schlesinger, 07:06)

• Online services make it easier than ever. “If you have stuff and you want it to go to somebody, write it down.” (06:38)

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4. Listener Conversation: Surprising Subscriptions

Timestamps: 07:48 – 09:19

• Light-hearted chat on app subscriptions:
  • One co-host confesses their only paid app is a sound machine used nightly.
    • “It's for a sound machine on my phone that I use every single night when I go to bed.” (07:52)
    • Sound samples: "This is what's described as a nice winter storm." (08:50)
  • Jill uses a cycling training app she loves for her rides.

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5. Insurance: Smart Ways to Save

Timestamps: 09:19 – 11:37

• Home & Auto Insurance Premiums Are Up:

  • “Home and auto insurance, it's gone crazy since the pandemic… Shop around. You can bundle your coverage. You can qualify for a discount.” (Jill Schlesinger, 09:19)
  • Jill shares she bought a leak-detection device for her home after her agent’s advice, cutting premiums enough for the device to pay off in 2.5 years.

• Auto Insurance Hacks:

  • Consider dropping collision/comprehensive on older cars:
    • “If your car is worth less than 10 times the premium… you may want to skip it.” (10:28)
    • Use Kelley Blue Book to value your vehicle.
  • Take a defensive driving course for premium discounts:
    • “My mother said she gets 10% off on her auto insurance by doing that.” (11:16)
    • For New York listeners: newyorksafetycouncil.com (course is online and about 6 hours). (11:26)

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6. Retirement Account Hygiene

Timestamps: 11:37 – 11:52

• “Streamline your retirement accounts. Will you please just consolidate everything? These people have retirement accounts all over the place. It's crazy making. It's nutty. So get that done.” (Jill Schlesinger, 11:41)

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Notable Quotes & Memorable Moments

• On Subscription Creep:
  “CNET did a study and they found… the number of apps and streaming services we have are costing us more than a thousand bucks in a year. And that's a lot.” (Jill Schlesinger, 03:55)

• On Rebalancing:
  “It forces you to sell when things are up and buy when things are down. That is very hard to do most of the times.” (Jill Schlesinger, 05:22)

• Estate Planning Gentle Push:
  “Aunt Jill will tell you that it's six months into the year. Many people put on those New Year's resolutions. Do my estate planning.” (06:24)

• Listener Fun:
  “It's for a sound machine on my phone that I use every single night when I go to bed.” (Co-host, 07:52)

• Insurance Tip:
  “I was able to buy a device… it will tell you if there's a leak in the house… I got such a huge break on my homeowner's insurance that the device… it's paid off in two and a half years.” (Jill Schlesinger, 09:33)

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Actionable Mid-Year Money Moves (Jill’s Homework)

• Review and cut unused app and streaming subscriptions.
• Check and rebalance retirement and investment accounts.
• Create or update your will, power of attorney, and healthcare proxy.
• Shop around for insurance, look for bundling and tech discounts, and consider dropping unnecessary coverage.
• Streamline and consolidate all retirement accounts for easier management.

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Timestamps for Key Segments

• Finding Hidden Money: 03:09 – 04:39
• Investment Checkup & Rebalancing: 04:42 – 06:13
• Estate Planning: 06:13 – 07:10
• Fun with Subscriptions: 07:48 – 09:19
• Insurance Strategies: 09:19 – 11:37
• Retirement Account Streamlining: 11:37 – 11:52

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Tone & Style

Jill keeps the advice concrete, conversational, and nonjudgmental—serving as both a gentle nudge and a motivator. By blending listener anecdotes, clear explanations, and real-life tips, she makes financial housekeeping feel manageable and even fun.

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Summary prepared for listeners who missed the episode or anyone looking for the highlights and actionable steps to tune-up their finances mid-year.

Transcript

[A]

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[B]

Mark, Believe it or not, can you believe it? We are halfway through 2026. So for today's Money Watch, we're talking about mid moves, especially if your financial resolutions from January are gathering dust along with that abandoned gym membership or patient app. Everybody can relate to that. CBS News business analyst Jill Schlesinger is here to help. Good morning.

[C]

Good morning.

[B]

All right, so you say at this mid year point, there's one foolproof way to find money. What is that foolproof way to find?

[C]

You have to look at how you're spending your own money. Like the foolproof way is to pay attention. And that might mean looking at your credit card statements just going through.

[D]

Do you think people don't pay attention?

[C]

I think because so much of our lives are automated, we don't pay attention in the same way we used to. So I'll speak for you and me, Gayle, when we got physical pay stubs and we got physical statements, you'd look at those statements. You really would now because everything's automated. It's great. But you don't really know. So I think reviewing how you spend your money is really good.

[B]

Yeah. Because you know a lot of people, every quarter I go through my app subscriptions.

[C]

Yes.

[B]

And make sure that I'm like, you know, guitar tricks from 1998.

[C]

Well, it's interesting you should say that. CNET did a study and they found that like the, the number of apps and streaming services we have are costing us more than a thousand bucks in a year. And that's a lot.

[D]

I don't pay attention to that. I bet there's stuff that I haven't used.

[C]

But you got to check this out. $200 a month of unused services. That's where you can find it. Right. And you can use different ways and apps can help track this. But I really just want to point out if I can give you advice about where to find money, pay attention, look at what you're spending. See if there's something you can shift around. It may not be possible, but I do know that after people spending the last couple of months complaining about gas prices, now is not the time to be like, and I'm going to go out and spend money on all these other things to reward my hardship.

[E]

Go ahead.

[D]

Go ahead.

[E]

I was going to say that spending less is always a better idea.

[C]

Oh, yeah.

[E]

But when you're talking about investments. Right. Advisors always say, just stay Put. Yeah, make any.

[D]

Don't panic.

[E]

Don't panic. But is there a smart way to maximize for one case or other investments that might have.

[C]

Right now, what I want to point out is that midway through the year, things might have gotten out of whack in your retirement account. What do I mean by that? Let's say you started the year and you say, hey, I'm a young person. I've been investing. Maybe I'm 80% in stocks and 20% in safer stuff, bonds and cash. Well, now, midway through the year, you may be 90% in stocks and 10% in the safe stuff stuff because the stock market's gone.

[D]

What do you think we should be?

[C]

It depends on each person. But whatever you think your allocation is, mid year is a perfect time to what's called rebalance. What does that mean? It means in most retirement plans, you can literally check a box and say, hey, I'm 70, 30, 80, 20 every six months. Rebalance. For me, the reason why this is great is it forces you to sell when things are up and buy when things are down. That is very hard to do most of the times. Vlad, you can chime in here. So this is a great thing. So if possible, rebalance your accounts. Now, if it's not a retirement account, the one thing I will say, Matt, is that you don't want to just buy and sell willy nilly outside of a retirement account because there could be tax implications. But it is good to look at it, and if you have the ability to move that money around without too much tax liability, great, go ahead and do it. You don't want to have to be reactive. We want you to be proactive.

[D]

You also say, no matter how much money you have, everybody should pay attention to estate planning, which always makes most people nervous.

[C]

Gayle, how long did I bug you about it? I know, I know, but I worked, right? So I will be like the gentle nudge. Aunt Jill will tell you that it's six months into the year. Many people put on those New Year's resolutions. Do my estate planning. What are the three main documents that everybody needs? A will, a power of attorney, and a health care proxy. Now, why do you need a will? People say to me, oh, I don't have kids. But if you have stuff and you want it to go to somebody, write it down. You don't necessarily need to hire a very fancy lawyer. There are plenty of online services, but those other two documents are vital. Why? Because if something happens to you, you want to assign the right to make a business Decision in your own behalf, on your own behalf, and a health care decision. This is not about having tons and tons of money and estate taxes. This is putting things in order.

[A]

Okay, Mark, I do love the idea of getting rid of any subscription that is just being unused. And I love that CNET study which said like, yeah, 200 bucks a month that people just don't realize they're spending. It's crazy, right? So what you may not have seen is that we had it on the video. You can track, you know, you can pull up with an app a lot of different ways to track your spending. Rocket money. Quick and simplify. Bobby for Apple and Subby for Android. That's a very good way to find any unwanted subscriptions. Also go to Apple Pay or Google Pay. You can just check that out.

[F]

You want to know. You want to know my. Really? My one and only subscription?

[A]

Yeah.

[F]

It's for a sound machine on my phone that I use every single night when I go to bed.

[A]

Really?

[F]

Yep.

[A]

What do you mean just like a, like white noise sleep?

[F]

Yeah, it's like a white noise. You can. You can pick all sorts of different filters, but I just have, you know, whatever. That's the only thing I really. I'm trying to think, like, other than I'm not counting Netflix and all that stuff.

[A]

Okay, you're not. I'm just talking about some people.

[F]

Yeah, I'm just talking about like apps on my phone.

[A]

Is the sound machine I have. I'll tell you what, I have a training one that I use for training for my big bike ride. And I pay for that. And it's. And I actually love it. It's. It's really awesome. So it's called Training Peaks and I like it a lot, so I use that.

[F]

Okay, wait, you want to hear a little sample?

[A]

Sure. Let's hear it.

[F]

Pull it up. I mean, this is what. This is what I go to bed to every single day.

[A]

Okay, ready? Ready, everybody?

[D]

Yeah,

[F]

That's. That's. This is one of my mixes. This is a. This is what's described as a nice winter storm.

[A]

I like that. I like it.

[F]

You know, you can do waves, light rain, hard rain, light snow, a blizzard.

[C]

I can't believe you.

[A]

Like, after you wake up early, you've got a kid, you've got full time responsibility for him. You do all the cooking. You can't just get to sleep.

[F]

Not without that.

[D]

No.

[F]

And it's beautiful because it's on my phone. So now, you know, wherever we're traveling, it's right there.

[A]

Good.

[E]

All Right.

[A]

Very nice.

[F]

Okay.

[A]

Thank you for sharing. Now everyone's asleep. Okay, Mark, Home and auto insurance, it's gone crazy since the pandemic. Just FYI. Everyone knows that. How can you defray some of the costs? I'm going to tell you right now. I just went through this shop around. You can bundle your coverage. You can qualify for a discount. I'll tell you what I did. I was able to buy a device that I put in my house that was. It's kind of like an interesting device. It's sort of like it will tell you if there's a leak in the house. And it's called, like, leak defense or something like that. But anyway, I got such a huge break on my homeowner's insurance that the device paying for the device, it's paid off in two and a half years. So it's crazy. It was such a good deal to do that. That was actually my insurance person told me to get it.

[F]

I keep getting the offers from our carrier. You know, anybody. Everyone's looking for a way just to lower the insurance because, as you said, it's insane, but I keep getting something for the car insurance. It's basically like this device that they send to you and you can install on your car, and it's basically like, you know, a safe driving tracker.

[A]

Yeah, I won't do that. You know why? Because I don't want. I'm a privacy freak.

[F]

There's no way doing that. That's the big downside.

[A]

No, I'm not. But let's just say you've got an old car. Like, you and I have old cars. You can drop collision or comprehensive coverage on an older car. So I went to the Insurance Information Institute to find out, and they said if your car is worth less than 10 times the premium, right. For this collision or comprehensive coverage, you may want to skip it. So you can look up the value of your car at Kelley Blue Book and you can say, well, my car is worth less than 10 times the premium amount. Maybe you don't need it. My mother loves the defensive driving class, which I actually just downloaded the. I'm sorry, I. I found out the website for newyorksafetycouncil.com mark. It's six hours, though.

[F]

They still do that. I remember. I mean, I remember doing that when I was a kid.

[A]

Yeah, well, you can do it now and you'll get a break. My mother said she gets 10% off on her auto insurance by doing that.

[F]

I mean, I would do that. So now is it online? It's all online.

[B]

Yeah, yeah.

[A]

Here, let me give it to you again. I mean, everyone else, you have to check your own state, new yorksafetycouncil.com and you take the defensive driving course.

[F]

I might do that.

[A]

All right, I'm. See, I can help you streamline those. You know, we always talk about this. Streamline your retirement accounts. Will you please just consolidate everything? These people have retirement accounts all over the place. It's crazy making. It's nutty. So get that done. That is it.

[C]

That is the program.

[A]

And as we go into the weekend, I've got homework for you. I'm sorry, you've got to go to jillonmoney.com, click the contact Us button, write us a note, and if you'd like to join us on the program, check the appropriate box. Don't forget, while you're on the website, you've got to subscribe, follow and promote our sister broadcast, Money Moves. You can get it on the Odysee app or wherever you find your favorite podcast. You can watch us on YouTube. It's all right there. It's Friday, so let's do some thank yous. Our music is composed by Joel Goodman. Mark Teo is our executive producer and king of all things web. And we're distributed by the lovely folks at Odyssey. Try to do something nice for someone else today. Change your work, change your wealth, change your life. Thanks for listening. We'll talk to you on Monday. Hey, there, it's Jill Schlesinger. I'm launching a new show. It's called Money Moves, and your money is going to move. We're gonna help you make better financial decisions. We're gonna call out the B.S. you're finding all over social media. We're gonna give you actionable guidance to make your financial life clearer, less stressful. We're gonna answer your financial questions and take the mystery out of your financial life. Follow and listen to Money Moves with Jill Schlesinger. Wherever you get your podcasts.