Spring fever has started. Longer days and warmer weather give us the itch to clean and organize our homes. Yet, something we tend to forget about cleaning is our finances. There’s no better way to start the best time of year than with an organized wallet.

Looking at finances can be overwhelming, however the best place to start is determining your expenses and budget. Eliminate any unnecessary expenditures you can. Ask yourself do I really need to eat out 4 times a week? Do I really need to have a subscription for every online service? Do I use my credit card too many times a month? Then, you need to determine your budget. Is your current budget balanced and realistic? What are your financial goals? Are there spending patterns you can adopt to free up more money? These are all questions you need to answer in order to improve your financial process.

Debt should be included when you determine your budget. Debts can feel like they are ruining your financial goals. Some tips to tackle debt are:

• Pay more than owed per month
• Pay on time
• Monitor your credit score

Eventually, you will see the debt disappear and you will have more money for other financial goals.

Saving is very important for your financial future. Sometimes you may feel that you can’t save as much as you want. Saving can be good for a future investment, retirement, emergencies, vacations, etc. A good tip is to try saving 20% of each paycheck. Another tip is to automate your savings. Ignorance is bliss, am I right?

Technology has come a long way. A great tip to keep track of your finances is through your personal bank app. You have the ability to check your statements, credit score, savings, etc. You can even set up automatic payments, investments, and savings. Everything is organized in one place. Yes, you may belong to multiple banks, however, most banks have apps you can download to your phone in order to track your money. This is a great way to organize your spending habits and stay on top of your financial goals.

Paperless has become very popular recently. However, not everyone loves the option of paperless. Many people keep old hard-copy financial documents; however, many can be shredded. Documents that include tax information can be saved because you may need it when filing for your taxes. It is great to keep folders in order to organize your financial papers as well as come up with best practices to continue the system you have created.

Financial cleaning should never be neglected. When you open your windows, hear the birds sing, and clean your homes, don’t forget about your money. An organized wallet can contribute to your spring attitude. Let’s make it a happy one.

References:

7 Tips for Financial Spring Cleaning. (2019, March 18). Take Charge America. https://www.takechargeamerica.org/7-tips-for-financial-spring-cleaning/

Davis, G. B. (n.d.). 14 Ways to Spring Clean Your Finances This Year. Money Crashers. Retrieved March 22, 2021, from https://www.moneycrashers.com/spring-clean-finances/

Smith, J. (2021). 13 Ways to Spring Clean Your Finances. Doughroller.net. https://www.doughroller.net/debt/ways-to-spring-clean-your-finances/

Spring Cleaning for Your Finances in 2021 | Atlas Credit. (n.d.). Atlascredit.com. Retrieved March 22, 2021, from https://atlascredit.com/blog/post/spring-cleaning-for-your-finances

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