Spring Clean Your Finances: A Guide to Refreshing Your Financial Health

Spring is here, and it’s the perfect time to refresh, renew, and reset, not just your home, but your finances too! As nature blooms, it’s the ideal moment to take a closer look at your financial health and clean up your financial house. Spring cleaning your finances can help eliminate clutter, reduce stress, and set you on a path to financial success.

This month, we challenge you to audit your expenses, organize your documents, and complete those financial tasks you've been putting off. Here’s a checklist to guide you through your financial spring cleaning:

1. Review and Cancel Unused Subscriptions: Go through all of your subscriptions and cancel the ones you aren't using. This simple step can save you money each month.

2. Reassess Your Financial Goals: Look over your goals, check your progress, and reassess if things have changed. Add new goals if applicable to keep your financial plan up-to-date.

3. Streamline Your Accounts: Simplify your finances by having one checking account for direct deposits and fixed expenses, and another for variable spending.

4. Declutter and Sell Unused Items: Declutter your home and sell items on platforms like Facebook Marketplace or eBay. This not only clears space but can also bring in extra cash.

5. Organize Important Documents: Organize all of your paperwork, discarding what you don't need. Store essential documents in a safe place, either physically or electronically, and ensure everything is backed up.

6. Consolidate Account Information: Create a list of all accounts with usernames and passwords, and make copies of IDs and credit cards. Store these securely, preferably in a safe.

7. Tackle Procrastinated Tasks: Make a list of tasks you've been putting off, like closing old bank accounts or opening a high-yield savings account. Schedule time to complete these tasks.

8. Analyze Your Spending: Conduct a "Fine-Tooth Comb" exercise by printing out three months' worth of bank and credit card statements to analyze your spending habits.

9. Get Your Taxes Done: Ensure your taxes are filed on time to avoid any penalties.

10. Schedule a Quarterly Review: If overdue, schedule a review to assess your financial progress and make necessary adjustments.

11. Check Your Credit Report: Run your full credit report on annualcreditreport.com to ensure accuracy and address any discrepancies.

12. Plan Payment Dates: Use a blank calendar to list out payment dates for all expenses, helping you plan and avoid late fees.

13. Negotiate Lower Rates: Call service providers like your cable, internet, and cell phone companies to negotiate lower rates.

14. Clean Out Your Pantry and Medicine Cabinet: Properly dispose of expired food and medications to maintain a healthy home environment.

Click below for a printable version:

Financial Spring Cleaning (2).pdf

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This challenge requires a little time commitment but will feel great to complete! If you find yourself struggling with any of the tasks, consider setting up a check-in call with a financial advisor to chat through it together. Embrace the season of renewal and set yourself up for financial success this spring!