Spring is here! It’s when you feel like cleaning out your closet and reorganizing your room every year, but so often people neglect the type of spring cleaning that they should focus on most; their finances! Cleaning up and organizing your finances and all the paperwork is a good way to stay on top of your financial progress.
Know Where You Stand
From rate changes to market fluctuations, there are many different factors that can affect your money. Don’t be caught off guard, explore and evaluate your resources and options. Knowing where you stand financially is the key to keeping your finances in good order.
Set Realistic Goals
Attempt to set realistic goals to achieve your financial success. Stretch your dollars and use money wisely. Know where your money is going and attempt to make goals oriented around things that you really want to do now.
Build an Emergency Reserve
Are you prepared for an unexpected expense?
There are numerous ways to boost your emergency fund. Some are as simple as being aware of your future care needs and trying to curb unnecessary spending. Another idea is to do away with those memberships and subscriptions that are no longer important to you.
Get Rid of Clutter
Spring is a good time to do some financial cleaning and purging—out with the old and in with the new! Keep in mind, for most people, you don’t need to keep old tax returns any more than 7 years. Shredding old documents is the best way to purge old paperwork with personal information on it.
Monitor Your Spending
Make sure your dollars are going toward things that bring you the most satisfaction and benefit. Set your priorities and focus your spending on things that matter to you most, that way you will have resources available to do the things that add value to your days and fulfillment to your life.
