If you are a regular reader of my blogs, you know that I recently burned many years of outdated tax returns – it felt great! It is time to take this Financial Spring Cleaning to the next steps. Here are a few:
Update Your Budget: Spending is one item we have complete control over. Review your discretionary spending from last year to see if there are items you can eliminate. Check your subscriptions to make sure there are no duplicates. If you have a major life event coming up – save for it vs. going into debt for it.
Automate Savings: Set up a regular deposit to your savings account, IRA, or general investment account. After a while, you will not miss those funds just sitting in a checking account doing nothing for you.
Update Beneficiaries. Have there been changes in your family due to deaths or marriages? Has a new grandchild entered the family? It is particularly important to make sure you have current primary and contingent beneficiaries on all your accounts, including your bank accounts. You may also want to investigate adding a Lady Bird Deed to your home so it will pass without going through probate.
Review Insurance: Look at your Life, Home, and Auto insurances to make sure you have adequate coverage and are not overpaying for any insurances.

There are many more things you can do to Spring Clean your Finances – these are just a few starter suggestions.

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