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Spring Clean Your Finances

March 23rd 2017 - by Amanda Perkins

As you start preparing your spring cleaning list, don’t forget to take a good look at your finances and make sure you are on track to achieve all your New Year’s resolution goals! As you put away winter boots, move things out of storage for the summer and clean out closets, review your savings, investment and spending habits and make any adjustments now to keep your goals in line.

Here are 3 tips to spring cleaning your finances

1)      Cancel any unused memberships.  Look at subscription services that you may be signed up for that are costing you more than you are getting out of them.  Things like gym memberships, TV streaming services like Netflix or extra cable packages like HBO or Extra Sporting packages.  If you find you aren’t using them very much and you can easily get by without them, cancel it and put that money into more beneficial areas like paying down debt or investing in your future.

2)      Check your Credit Report.  It has become very easy for people to review their credit scores for free now.  Review your score and report, making sure nothing has damaged your score lately and ensure that there is no suspicious activity happening with your finances. If there is, look into addressing those issues immediately.

3)      Review your debt.  Are you making regular payments to your loans or credit card debt?  Are you taking active steps to paying off outstanding debt faster, such as making payments larger than the debt you are incurring each month?   Now is a great time to see if you can find ways to make additional payments or increase the amount you are putting towards your debt.  Maybe even hide your credit card for the season to eliminate the temptation to rack it up again.

So, this Spring, as you clean out closets, wash the car and work on the gardens, take some time to also review your wallet and ensure all aspects of your life are on track. If you need help getting back on track or eliminating multiple credit lines talk to us about finding the perfect fit for your finances.  We are here to help you eliminate debt and invest in your future.