As the weather starts to get a bit warmer, you might be thinking about spring cleaning in your home. It’s time to chase away those dust bunnies and take your unwanted items to Goodwill. While you’re at it, you might want to take time to spring clean your finances with these simple steps I found from Fiscal Fizzle:
- Start with your budget! Do you notice any problem spending areas? Or are there any areas where you’re budgeting more than you need to? Adjust your budget accordingly.
- Go through your receipt bin/drawer and discard anything you no longer need
- File away any paperwork that accumulated over the last year. Try to make as much of it paperless as possible.
- Review your current subscriptions and cancel the ones you no longer use.
- Review the recurring subscriptions you decided to keep for hidden fees and levels of services (ex: do you need this premium service when standard service will do?)
- Clean out your wallet or purse-removed unused cards, receipts, memberships and anything else you don’t use on a daily basis.
- Clean up your accounts. Now is a great time to consolidate accounts, get rid of unused accounts and toss dusty old checks and statements. If you have multiple bank accounts open that you rarely use, consider closing some. And if you’ve been unhappy with your bank, now is a great time to switch to a credit union!
- Make sure your insurance cards and policies are up to date. Get new quotes if you suspect you could do better.
- Pull your credit score or credit report with a free service like Credit Karma or from one of the three major credit bureaus. Check for errors or surprises.
- Automate any recurring bills, payments or transfers that are not yet automatic.
- Check reward balances and decide if you’re going to use them.
- Collect your gift cards and make a plan to use them before their value expires.
- Store any extra money you have lying around in your savings account!
- Make a meaningful charitable contribution. Nothing welcomes in the renewing feeling of spring like helping someone else in need.
Getting your finances cleaned up and ready for the upcoming year is a great way to feel prepared and in control! Do you have any financial spring cleaning tips? Share with us below!
Until Next Time,