Financial spring cleaning helps you eliminate all the financial clutter built up over the past year. It gives you a chance to start fresh and ensure that your accounts are in order.
When you declutter your finances, it will be easier to stay on top of your bills, save money, and make sound money-related decisions.
Unsubscribe From Unused Services
Review your credit card and bank statements to find any recurring charges for items or services you didn't use last month or don't recognize and cancel them immediately.
Update Your Budget
The second step is to update your budget. Take a look at your income and expenses and see where you can make changes.
Go Through and Organize Financial Documents
It's a good idea to create folders or labels for each type of document (or online record) so that you can find what you need quickly and easily.
Review Your Insurance Policies
The fourth step is to review your insurance policies. Make sure that you have adequate coverage in case of an emergency. Review to ensure you don't have extra coverages you don't need.
Taxes, Taxes, Taxes
You may also need to start thinking about estimated tax payments if you are self-employed or have other income that is not subject to withholding.
Check-In On Your Debt
Make sure you're make all of your payments on time and not accrue any new debt. Any extra income can be put it towards paying off your debt.