Spring is a natural time to reset and clean up the areas of life that have gotten a little cluttered over the winter. Your finances are no different. A quick financial “spring cleaning” can help you eliminate waste, get organized, and refocus on what matters most.
Start by reviewing your bank and credit card statements. Go through them line by line and look for anything that doesn’t belong or no longer adds value. This is where you’ll often find forgotten subscriptions, free trials that turned into monthly charges, or duplicate services. Even small charges can add up over time, so cancel anything you’re no longer using.
Next, take a look at any financial clutter. This could include old accounts, scattered investments, or credit cards you rarely use. Simplifying can make your financial life easier to manage. If you have unused credit cards, consider cutting up the physical card so it’s not used accidentally, but keep the account open. Closing accounts can sometimes hurt your credit score by reducing your available credit and shortening your credit history.
It’s also a good time to revisit your spending. Look back at the last few months and see if your money is going where you want it to go. If your expenses or priorities have changed, make adjustments so your spending better reflects your current situation.
Make sure your emergency savings are in a good place as well. Having a cushion for unexpected expenses can provide peace of mind and help you avoid relying on debt when something comes up. If you’re below your target, setting up automatic contributions can help rebuild it over time.
Finally, log into your retirement accounts and confirm that your contributions and investment allocations still align with your goals. Even small increases in savings can make a meaningful difference over time.
Financial spring cleaning doesn’t need to be complicated. A few small steps like canceling an unused subscription, organizing accounts, or increasing savings slightly can go a long way toward keeping your financial life on track.
Did You Know?
Your employer sponsors this financial wellness benefit from Francis. The benefit connects you with down-to-earth financial planners who educate and advise on any money matters…without the sales pitch. We are exclusively engaged by employers like yours and have no investment products to sell, so you can feel confident that you will always receive objective advice.
Your financial planner will help you set priorities and achieve your money goals, without judgment or financial jargon. Know that all discussions are kept strictly confidential. This service is offered as an employee benefit with no per-session co-pays, so you can meet with a financial planner as often as you wish. Services are paid by your retirement plan or your employer.
Connecting with a financial planner is easy! Here’s how:
- Visit FrancisWay.com > Services > Participant Portal
- Call (866) 232-6457
Download the free mobile app (Search for Francis LLC)
Visit the Learning Library
