Spring cleaning usually means we go through our closets and garages to get rid of the stuff that has just been hanging around. This can also be a great time for new beginnings and positive changes. Here are a few spring cleaning suggestions to freshen up your finances:
Fine-tune your budget
A budget is a plan for your money, but even the best laid plans have a tendency to go awry. A regular budget check can help you stay on top of your spending behavior and make any necessary tweaks.
Check your savings account & come up with a savings plan
The target for liquid emergency savings is generally three to six months’ worth of household expenses, dividing the amount you need by the next 12 months. This will give you a manageable amount, like $100 to $150, that you can set aside monthly until you reach your goal.
Bump up your retirement contributions
Spring is a great time to reassess and potentially boost your contributions for the rest of the year. Don’t forget to take into account any promotions or bonuses when thinking of ways to increase your contributions.
If you can add these spring cleaning tips into your life, you will be much happier for years to come.