Spring Cleaning For Your Finances
It’s officially spring, a time when spring-cleaning and decluttering is at the top of most “to-do” lists. Spring cleaning isn’t just for your home. Spring is also a good time to spruce up your finances.
Follow these spring-cleaning tips to help organize and assess your financial goals for 2025.
Refresh Your Budget
Did you create a budget at the beginning of the year? If so, it’s time to review it.
Maybe you overestimated your spending in certain categories or need to cut back on spending in others. Maybe you had an unexpected car repair or a spontaneous trip pop-up. Priorities change and that’s okay! Just make sure your budget reflects those changes.
De-clutter Your Automatic Payments
Autopay for bills is great, if you know what you are being billed for. It’s easy to forget about an auto-renew subscription or billing for a streaming platform you no longer use, so make sure you know what each payment is for, even the smallest amount. Utilizing online banking tools like Card Controls can help you track recurring payments and review merchant details like recent transactions and merchant contact information.
Use Your Tax Return
Plant seeds for successful savings by using your tax refund wisely. Consider this your opportunity to get ahead on payments, create an emergency fund, grow your savings, or put the money aside for summer vacation!
Clean Out Your Debt
If cleaning out the house doesn’t seem that rewarding, cleaning out your debt sure will. Make an actionable plan to pay off your debt sooner rather than later. Consider using any extra money from your tax return to do so. The best way to save money is by eliminating debt!
Check Your Automatic Savings
If you have automated your savings with scheduled transfers to your savings account, make sure it is working as planned. This could be an auto-transfer every month from checking to savings, a savings account deposit directly from your paycheck, or deposits from the RoundUp Savings Program.
Start Your Financial Spring-Cleaning Today!
The benefits of financial spring cleaning go beyond your bank account. It can refresh your outlook on money and empower you to make informed financial decisions. So, embrace the spring-cleaning spirit, clean up your finances, and watch your financial health blossom!