Title: 'July' in black on top. It's a checklist with: Check credit reports, Rebalance portfolio, Take summer vacation, and Submit reimbursements. The photo is of a shallow beach on a sunny day.

Summer!

The 4th of July is in just a few days. It’s definitely summer!

Potential Steps This Month

Financial steps tech employees might take in July include:

  1. Check credit reports

  2. Rebalance portfolio

  3. Take summer vacation

  4. Submit reimbursements

1. Check Credit Reports

Summer expenses can be heavy and span multiple states. Fraud risk may rise while the odds of catching it fall.

Now’s a good time to check credit reports to

  • verify your information,

  • check for fraud, and

  • ensure flexibility.

2. Rebalance Portfolio

Investments drift over time - especially after:

Did you hear the S&P 500® just posted its best quarter since 2020?

Employer Stock

Holding employer stock can be challenging. A single stock may have more risk with a similar expected return.

Employer stock can also be tied to:

  • income,

  • benefits, and

  • home value.

For more, check out: Is It Worth Holding Employer Stock?

Title: "HOLD EMPLOYER STOCK?" in white. HOLD is surrounded by dark blue. The image of Kevin Estes wearing a suite top and a T-shirt smirking and pointing to the title. The background is on top of a mountain at sunset.

3. Take Summer Vacation

Rest is a critical and often overlooked part of work.

Summer Vacation

Fall was the busiest season when I worked in management consulting and corporate finance.

It’s planning season!

Many great ideas come:

  • on vacation or

  • after returning to work refreshed.

Check out: Schedule Your PTO ASAP!

Title: "SCHEDULE YOUR PAID TIME OFF AS SOON AS POSSIBLE!" PAID TIME OFF is in white. The other words are in dark purple. The background is light purple. A hand holds a silver alarm clock in the photo.

Summer Camp

Camp offers wonderful opportunities. Children get to:

  • break out of their routines,

  • connect with peers,

  • develop new skills, and

  • learn from different adults.

Our daughter attended camp on an island near Seattle.

When we were waiting at pickup, another parent told us a story:

The first year our daughter went to this camp, she came off the boat in tears.

My mind raced to worst case scenarios.

When I finally got to her, she cried:

‘I don’t want to leave!’ 🤣

4. Submit Reimbursements

Daycare expenses can be heaviest in the summer. Submitting receipts may fund a vacation.

It’s also nice to know early if there’s a problem. That gives everyone time to fix it by year end!

A dependent care Flexible Spending Account (FSA) generally can’t be used for:

  • overnight camps and

  • 13+ year old children.

There are some exceptions.

Title: "Overnight camps generally don't qualify for dependent care FSA" in the middle. It's a photo of a bunch of sleeping bags on a shelf at an overnight camp.

Hey, thanks for reading my post on potential financial steps for tech professionals in July!

Just a reminder, I share a lot of resources that may help you.

Join the newsletter and get the white paper:

Personal Finance for Tech Professionals