Seeds planted? Check. 🌷 Windows cleaned? Check. 🪟 Old junk donated? Check.📦Family budget all neat and tidy? Now, wait just a minute. 🤨
If cleaning up your finances wasn’t on your Spring to-do list, you better put it on there! 🫵 In these uncertain times, it’s all about controlling what we can control. Springtime is a great time to revisit your money matters and we’re serving up top tips. 💁🏻♀️
Here’s Five Fast Facts on financial Spring cleaning:
- 📑 File That Pile - If you’re a “put it in a pile for later” gator, Spring is a great time to finally organize all those financial documents. Invest in a new filing cabinet or clear out a junk drawer or cabinet. Organize statements and tax returns in folders and double check all your important docs are accounted for. Bonus tip: check your credit report. If you see any funny business, report it to the bureaus right away.
- 🤏 All the Small Things - Got a budget? Do a Spring check in and make sure everything’s still on track. Even if you don’t go by a formal system, take a look at your bank and credit card statements so you know where all your money’s going. Notice anywhere you can make spending cuts, even if they’re small.
- 🔄 Don’t You Forget About Me - When’s the last time you took a peek at those recurring charges? And we’re not just talking about that unused Planet Fitness subscription. Homeowners and car insurance policies often auto-renew. If they increase in price, those automatic monthly payments may give you some sticker shock. Now’s a good time to review your coverage and get outside quotes to make sure you’re still getting the best rate.
- ✂️ Club Shred - Spring is a great time to get the shredder out! Identity thieves love a good dumpster dive, but shredding your stuff pre-trash gives you extra protection. Here’s a quick guide of how long to keep important docs: tax returns - 6 years, bank statements - 1 year, credit card bills - 45 days, utility bills - shred after payment, insurance policies - keep as long as they’re active.
- 💰 Spring Into Savings - If you’ve been hanging out with us for a while, you know how much we love emergency funds. But seriously…if you haven't started one yet, hop to it. Set up automatic transfers from your paycheck to your bank account on payday - you won’t even miss it. If you’re a homeowner, consider opening a home equity line of credit for additional emergency peace of mind.
🔥Bottom line: Now that your finances are squeaky clean, it’s time to tackle that old wood pile. What lies beneath is yours to find out. A pile of cute kittens or a sack of spiders? Let us know either way! Ever wonder where the average American paycheck goes? Head here for the full breakdown.
How will you clean up your finances this Spring?
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