How To Spring Clean Your Finances

The days are getting longer, the nights lighter, the flowers are making an appearance – spring is in the air. It’s the perfect time to spring clean your finances! Whether you’re feeling a little overwhelmed by your finances right now or you’ve got it down to a fine art, you’ll find benefits from investing the time to go over your finances.

Take an hour and do these six things to spring clean your finances and instantly feel more financially confident…

Review your budget

This is the perfect time to review your current budget and sure it is still working well for you. Budgets shouldn’t be set in stone. They should be something you are constantly reviewing and updating to make the best possible solution for you. Or maybe you don’t have a budget yet? This is the perfect time to set one up – check out these classic budgets to try if you don’t know where to start.

Check transaction history

Take a few minutes and scroll through your transaction history on your bank accounts to make sure you recognise all the transactions. Flag any that don’t look right to you. This is a great way to spot fraud early on and hopefully be able to sort it out with your bank.

Cancel any forgotten subscriptions

Whilst you’re going through your transactions maybe you notice a few subscriptions that you forgot about – cancel them!!! I regularly take out free trials for new services or when I’m completing an online task and it’s so easy to forget about them and keep paying without realising. Put the effort in to make sure you are only paying for those that you value and use a lot.

Check your credit score

Knowing your credit score is valuable information to have when it comes to your financial health. Take a moment to check your credit score, whether this is just logging into an app you already have and getting an update or checking it for the first time.

Bin those unnecessary receipts in your wallet

Receipts have a tendency to cling on and spend more time in your wallet than they should. Take the plunge and bin those that has stayed beyond their welcome. It will make you feel lighter both literally and metaphorically. Same can be said about unnecessary statements or bank letters you are holding onto. Go through the pile and sort out the important documents from those that can be shredded.

Realign with your current financial goals

Have you reviewed your goals recently? Do you know what you are working towards and why? Dedicate a hour or so to realign with your current financial goals and changing them if they are no longer aligned with your current plans. I like to set monthly, quarterly and yearly goals which I review regularly and often get rid or add new goals into the mix.

Use these six suggestions as a starting point and take the time to spring clean your finances. Future you will be thankful!