If you’re like me, you are gearing up for spring cleaning. Dust has piled up and the system you had going for organization may need a little extra attention. Have you thought of tidying up your personal finances? They deserve a good scrub, too! I get it – cleaning your home is a lot less intimidating and has immediate results. Yet, the rewards of creating a habit in which you check in financially can lend itself to long term progress.
Let’s look at ways you can spruce up your finances this spring.
- Pay towards your debt with your tax refund.
It’s tempting to use your tax refund money on fun things or vacations. I’m not saying don’t do anything nice for yourself, but keep any debts you may have in mind. Could you pay something off with your tax refund? Want to cut back on some loan interest? It may be worth putting that money towards reducing or paying off a debt.
- Consider cutting back.
With so many subscription services these days it’s easy to let them add up without realizing how much they are really costing you. Take inventory. Are there some you could get rid of? Could you share or split with a friend? Find a cheaper service or option? Making these changes makes you aware of expenses you may not have realized and helps you prioritize.
- Meal plan/ buy in bulk.
There’s a lot of waste that happens in my house when I don’t plan meals ahead. Not just because I’m not buying in bulk, but because when I’m less precise I spend more. The old ‘take a list’ thing is real. Give your finances some love by getting the best deal you can when grocery shopping and stretching those meals/ingredients.
- Leave the credit card at home.
I know, you’ve got that project, that thing you want, but making financial stability your priority is worth so much more than a moments satisfaction. Save up for those items so you can pay for them without adding to your debt.
- Have a spend free day/ weekend every now and then.
Take a day to let the money sit still without being touched. You can still have a fun day! This helps us evaluate what we are spending money on and can be a wake-up call to bored or emotional spending. Get some spend free ideas here!
- Outline a debt repayment plan.
Just hoping that bills will go away isn’t reality. Like everything else, it takes work. So, take this time to get serious and make a plan to start chipping away at your debt. If you have a plan already – great job – tighten it up and adjust it, if needed.
- Check on your emergency fund.
Is it depleted, nonexistent? Work on making it priority again and give it a little TLC.
Have any other ideas? How do you spring clean your finances? I hope this has encouraged you to spend a little time digging in, and I hope that you see a return on your efforts.