March 23, 2024

4 Steps To Spring ‘Clean’ Your Finances

Ah, Spring... The perfect time to brush away cobwebs, cut out costly money habits, and set yourself up for financial success. Refresh your financial well-being for the change of season in four easy steps:

1. Get to know your foundation: Start your spring-cleaning session by assessing your current money situation. Gather all your info on income, expenses, savings, investments, and debt. A simple way to approach this is to look at your bank statements from last month – calculate the total amount of money you brought home compared to the total amount you spent.

2. Plant money-saving seeds: Let’s dig into the details! Set aside time where you refine your financial foundation, ensuring that your money is efficiently working toward your goals. And if not, maybe consider a pivot or two for greater savings.

    Think about your routine expenses here:

  • Subscriptions. Do you use them/still need them? Did you forget any?
  • Electric bills. Are you okay with the amount you pay fluctuating or would you benefit from paying an average, but same amount, every month. Maybe you could bundle utilities to make things easier?
  • Credit card debt. Should you consider consolidating at a lower rate?
  • Insurance. Have you shopped around lately? There can be significant savings here.

3. Practice mindful money habits: Progress over perfection. That means every small money move adds up to your bigger money goal(s). 

    Compliment your efficient expenses with sustainable habits like:

  • Eating delicious homecooked meals.
  • Shopping off-brand products for discounts.
  • Reselling used goods for extra income.
  • Finding ways to enjoy what’s free.
  • Staying in > going out with friends and family.

4. Give yourself some green first: AKA, invest in you and add to your personal savings account. This money should automatically pull from your paycheck as if it never existed in the first place. Think of it as your emergency savings, at least 6–12 months' worth of your salary. 

When are you going to start cleaning your finances this Spring? Remember, success doesn’t happen overnight – and getting started can be the hardest part. Let's grow and get it!

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