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WooHoo!!!! Spring is finally in the air! Channeling that inner Pinterest Organizing Diva while tackling your kiddos bedrooms on that first warm day can leave you feeling pretty pumped for the season. Or maybe you see it as just another annoying task on that never ending to-do list. Either way, while you’re in the mist of reclaiming your home before you're casted on the next episode of Hoarders, you should also spruce up your finances too.
It’s very important to clean-up your finances at least once a year! I swear your closets aren't the only place you're hoarding ridiculousness!!! By gathering up your documents, even current insurance documents & taking a nice deep look into your current financial situation, it will not only help with the spurge spending, but will also show you the financial changes that took place over the year, the good, the fab & the ugly. Summer is my favorite time of year with the nonstop sunny days, picnics,barbecues & poolside chillen, so I don’t want to think about money when I could be soaking up some much missed Vitamin D. However I also don’t want anxiety about money hovering over my fun either. So pick a day my friends and go through this checklist of financial spring cleaning so you can enjoy summer financially stress free. I even included a printable to help you stay organized through out the year!
1. Reevaluate Your Insurance Needs
Dig out your auto, home, life and health policies. It's crazy how much can change in only a year, so definitely review your premiums, deductibles and beneficiaries and ensure it all still meets your needs. Maybe a higher deductible with a lower premium is right for you now, or maybe you can afford a more comprehensive plan. Make sure your insurance provider knows about any changes you’ve made to your home, such as adding a security system or building an addition. This may lower your monthly payment. A great place you should check out online is PolicyGenius to help figure out what coverage you need and to compare rates. The kind folks at PolicyGenius will even assess your insurance gaps, over coverage and even areas for potential savings through a 5-minute Q&A that analyzes your financial and family situation to provide you with tailored feedback. Perfect for someone like me who can easily get confused with insurance talk! Let the professionals do it for you to avoid any blonde moments from happening!
2. Check Your Spending.
Ok, so how do your numbers look? If you don’t have a budget, then make one. NOW! You have to know your numbers. What does it cost you to live? The basics! What do you spend over & above what you need to live? Decide where the dollars are going that bring you the least amount of satisfaction & benefit. (Note to the hubby's: Do not & I repeat DO NOT start enumerating the personal care costs of your wifey, unless you are willing to endure the same grilling on your spending.)
3.Set Up Automatic Bill Pay & Go Green!
Spring cleaning isn't only about de-cluttering - it's also about making things more efficient.You know that amazing feeling when you get rid of clothes you haven’t worn in a few years? Getting rid of that filing cabinet filled with old bills and credit card statements can feel just as freeing. Set up automatic bill pay, and link it to your primary checking account. Automatic bill pay will eliminate the chances of missing a payment, paying those pesky late fees & receiving that extra piece of mail!
4.Eliminate Unused Services.
Get rid of services that you just don’t use. Reconsider Netflix or Hulu if you have overlapping services like premium cable or Amazon prime (or vice versa). Did you make a New Years resolution to hit the gym, buy a membership, but haven't been in months?!?! Cut out your gym membership if you rarely use it! Why spend money on things if you aren't actually using them? It's just silly!
5. Cash in your credit card points.
Check your points or you frequent flyer miles balance on your credit card and cash those babies in. Make sure to get the most bang for your buck, though. For example, some rewards are worth more when used toward travel reservations through the credit card than a statement credit. Other cards may offer gift cards at a higher value. Check your credit card’s rewards website for the details.
6. Clear Your Email Inbox of Spending Temptations
Get rid of daily emails urging you to click and buy right now. Swear this sounds like the easiest thing to, but it can be hard to say good bye to your favorite store. Your bank account will thank you later though, so just close your eyes and press that unsubscribe button.
7. Get Your Calendar In Check
Just as you set up calendar reminders for your social life, try doing the same for your financial life. Make sure you have key dates noted, from bill payment reminders to credit score checks to having a money talk with your partner. If you already have a money calendar in place, take the time to check in and confirm that everything is accounted for.
8. Consolidate Your Accounts
The bank account you set up in high school, the 401(k) from your first job out of college, the investment account your parents set up for you with MCD and DIS so you could learn the rules of investing, that other 401(k) from your second job with the terrible boss—sound familiar? If you’re like most people, you likely have multiple accounts set up all over the place, which means multiple statements and multiple sets of fees. Make life easier for yourself and consolidate these accounts in one place: Roll any old 401(k)s into one IRA and combine your checking accounts together. Not only will this make things easier on you (less statements in the mail each month, only one company to call when you need a statement or have a question), but it may even lower your annual fees.
9. Shred Shred SHRED!!!
Keep your tax records for the past 7 years, a year’s worth of pay stubs and statements, and 45 days worth of credit card statements. Otherwise, get to shredding! Not only does it declutter you home, shredding can help protect you from identity theft.
10. Request Due Date Changes
After laying out all of your bills in front of you, are you seeing due dates that tend to strain your income on a consistent basis? simply call or email your creditor to request a new due date for later or earlier in the month.
**This post was sponsored by PolicyGenius and their advertisers. Regardless, all stories, opinions & typos, 100% my own**
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tara pittman
4/14/2016 11:57:32 pm
Spring time is a good time as any to look at your money. I need to consolidate my bank accounts.
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4/14/2016 11:59:21 pm
While I follow most of those tips I don't however shred as much as I should. I don't keep the tax returns since I can always request them from the IRS, that leaves less paper for me as well. Thanks for the printable.
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michelle m
4/15/2016 12:49:21 am
shredding is one of my favorite cleaning activities! i love this post about spring cleaning your finances because a lot of people seem to neglect this part of their life
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Elizabeth O.
4/15/2016 01:13:19 am
These are all solid tips, it's important to keep your finances in check so you don't have to worry about bills or any other extra expenses. Thanks for the awesome tips, they are definitely effective!
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4/15/2016 03:47:34 am
I have recently had to cutback a lot on my spending, I am suddenly now earning less money and I don't know how long the little money I do have can last.
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robin masshole mommy
4/15/2016 05:36:41 am
Love the printable. I am married to an accountant, so I think I am pretty much all set in the finance department.
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4/15/2016 08:24:11 am
It's so important to keep check of your finances and do regular "check ups" just like so many other aspects of life. These are great suggestions to keep on top of it!
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4/15/2016 10:07:56 am
Great tips and love the free printable! Def gonna use this since trying to get our financial s on point is our number one priority while house hunting! Thanks for the great post!
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4/15/2016 10:39:46 am
These are very helpful tips. I am printing these printables.
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4/15/2016 10:42:04 am
this is a great printable - thank you so much!
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4/15/2016 10:59:29 am
I never thought to spring clean finances like this!! What a great printable, I know we are guilty of spending to much on little indulgences.
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Spring is the perfect time to organize and clean and there is no better time to organize your finances! Although its important to pay attention to your finances year round as well. I have been unsubscribing from a ton of companies lately for the reasons you mentioned in #6.
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4/15/2016 05:01:30 pm
What some awesome tips and those printables are amazing - think I need to print them off ASAP! x
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Jeanine
4/15/2016 05:25:33 pm
Such a cute printable. I am always printing out sheets for my budgets so this will be perfect!
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Bernadette Callahan
4/15/2016 05:37:44 pm
Love a good printable.
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4/15/2016 05:57:37 pm
Thanks so much for the tips and the printable. My husband and I go over our finances every year.
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4/15/2016 06:43:18 pm
I will take a closer look at this because im always looking ways to cut off my unnecessary expenses
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4/15/2016 07:13:54 pm
This is so great! I love that they help you look for gaps in your insurance policies.
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4/15/2016 08:07:52 pm
These are awesome tips. My husband is a CPA and finances are a huge discussion in our house.
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Marielle Altenor
4/15/2016 10:49:31 pm
These are really great tips! Especially the part about cashing in points. I have a few points with my Visa that I need to redeem.
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4/15/2016 10:53:09 pm
These are all such great tips. My hubby and I have been watching our spending the past month.
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LaQuinda
4/15/2016 11:13:48 pm
No kidding but I was thinking about this very topic today! Confirmation that I need to get on the ball!
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4/16/2016 07:58:36 am
Such an awesome tips. Thanks for this. I should be more motivated from saving money.
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Debbie Denny
4/16/2016 08:30:20 am
Those are really good tips to straighten up budgets. Love the printable. Good and handy
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Rosey
4/16/2016 11:11:16 am
Budgets are important. When you see exactly where your money is going, you do feel better because now you've got a firm foundation for making positive change.
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jamie sanders
4/16/2016 11:34:32 am
I definitely need a better way to organize my expenses, this should help. Thanks!
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4/16/2016 05:09:57 pm
What a great printable. I have been meaning to clean up my finances for a while because they are in dire need of controlling!
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4/16/2016 06:29:45 pm
One of the best things I did was delete the Groupon app and unsubscribe from their emails. Yes they are great deals but it is 90% stuff I don't need!
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Ann B
4/16/2016 08:21:01 pm
This is a great printable I will have to print some off . It will help me keep on track.
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Nicole Herose C. Escat
4/17/2016 06:51:39 am
Such a great and helpful tip! Love the printable, so cute! Thanks for this.
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Neely Moldovan
4/17/2016 01:22:40 pm
I love these finance tips. We keep a spreadsheet and add up our own expenses monthly but it's a joint sheet so we have sections for every possible expense. It's also nice to see month to month what changes.
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Debra
4/17/2016 07:25:34 pm
These are all such great tips! I am almost done spring cleaning the house, now I need to get to work on the finances!
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4/17/2016 08:25:47 pm
Oh man! #'s 5, 6 and 8 really hit home. We just decided we need to ditch my husband's credit card because it doesn't do anything for us - why have a credit card that does nothing where you can have one that gives you money back on groceries and gas, or free movies?! I also just unsubscribed from a few email newsletters that were just for shopping - can't have that temptation especially when online shopping is just so easy! And we actually just went to the bank to see about consolidating our accounts - why didn't we think of that earlier? Thanks for sharing this list!
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4/17/2016 09:43:06 pm
What a great little printable. It is sure to come in handy for those who need some help with organizing their expenses. :)
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4/18/2016 10:18:46 am
Great tips! I am re-evaluating my insurance right now! Another one is to check your credit card statements for any re-occurring charges you forgot to cancel.
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Sola
4/18/2016 11:57:23 am
Great printable. After tax season as a consultant this is well needed. Thanks for sharing this!
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Melissa Bernardo
4/18/2016 03:02:12 pm
A lot of helpful tips here! I need to do some spring cleaning ASAP!
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Margaret Branch
4/18/2016 08:27:27 pm
I totally agree with consolidating accounts! The fewer you have, the harder it is to make mistakes. That said, it is so important to talk with a trusted banker/financial adviser to figure out where the best place to keep your money is. I also agree with what you have to say about shredding. Keep what you need, but otherwise GET RID OF IT! Great tips, thanks for sharing :)
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4/18/2016 08:34:04 pm
As much as I love Spring it also reminds me it is that time of the year to gather up the booking books and tally everything up to prepare for tax filing. Your post is a good way of looking at it as a financial spring cleaning, so I definitely value the tips you gave!
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4/18/2016 10:04:44 pm
Getting my finances in order is one of the main goals I have for this year. We've made some big strides but these little tips and the printable are definitely what I needed to read today to help me reaffirm my goals. Thanks!
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4/19/2016 03:54:55 pm
Aaahh... My husband and I are working on the financial budget. Thanks for printables!!
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4/19/2016 07:13:19 pm
Thanks for the printable. I needed budget worksheet forever now.
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Tonya c
4/20/2016 01:02:00 am
These are all great tips. I for sure could use a few of these myself.
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4/20/2016 02:11:09 am
This is a great printable! I'd definitely use it to help keep track of my expenses and finances!
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4/20/2016 05:56:55 am
Great advice. Spring is a good time to have a financial tidy up, especially if you can check back on your spending so far in to the year and then change things! Thanks for sharing.
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