4 Tips for Financial Spring Cleaning

4 Tips for Financial Spring Cleaning

| March 22, 2020

4 Tips for Financial Spring Cleaning

Your spring to-do list shouldn’t be limited to your home. Now is the perfect time to give your finances a deep cleaning.

Throughout the year, it can be easy to become distracted and allow your financial plan to veer off. There’s no time like the present to clear the dust and make sure the plan still makes sense for you and your family.

Here are four tips for de-cluttering and reorganizing your finances:

Review your budget. When was the last time you looked over the money coming in and more importantly, going out? The turn of a new season is a great time to take a step back to make sure all of your expenses are being considered. It is a time to see if you need to adjust your savings, retirement fund, and “rainy day” accounts.

Look over your investment accounts. Just like your retirement accounts, consider a springtime review of your portfolio with your financial planner. 

Create a plan to pay off your debt. Adjust your budget and make a commitment to paying off any credit cards and student loans.

Comparison shop your major fixed expenses. It is a great time to shop around for your services – from Insurances (Health, Life, Disability) to your cell phone provider and any utilities – It can be an opportunity for you to save a lot of money.

Spring cleaning your finances is a great way to reassess and recommit to your goals. Using the 4 tips above will give you a great starting point toward achieving them.