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Just like spring cleaning your house, your finances could probably use a spring cleaning too. Clearing out the clutter helps you eliminate waste, get organized, and challenge yourself to make moves that will improve your financial health. Here we’ll discuss seven financial spring cleaning tips that will save you money for the rest of the year.
1. Shop for Better Rates
Challenge yourself this spring to lower as many bills as possible. This may mean shopping around for better car loan or mortgage interest rates, cheaper insurance policies, or lower phone and internet plans. With a little work, you can save hundreds of dollars per month.
2. Subscription Pause
This spring you can try a subscription pause. Try pausing all non-essential subscriptions for one month and see which ones you truly miss. You probably will realize that you don’t need more than one or two streaming services or that your Fab Fit Fun box isn’t really necessary.
3. Declutter Your Paperwork
While this might save you money, disorganized paperwork can lead to disorganized finances. Shred any paperwork you don’t need, file any paperwork that is strewn about, and opt into paperless billing wherever you can. By streamlining your paperwork, you’re more likely to stay on top of your payments and avoid costly financial mistakes.
4. Closet Sale Challenge
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If you’re already cleaning out your closets for spring, why not sell some things to earn extra money? You could have a garage sale, and post items on Facebook or Poshmark to make some extra cash. You should then put this extra money straight into savings.
5. Clear Your Inbox
If you’re tempted to shop when you see a big sale, it might be time to unsubscribe from marketing emails. This will save you a ton of money in the long run. Clearing out your inbox doesn’t have to be a gargantuan task either. You can also bulk unsubscribe from marketing emails by creating an email filter. Another alternative is to set up a separate email just for shopping so that you aren’t constantly bombarded with messages all the time.
6. Find Free Entertainment for One Month
Do you overspend on entertainment? Try this fun challenge to only find free entertainment. With a little research, you’ll probably find that there are a lot of options for free entertainment in your area. Check out free museums, parks, concerts, markets, and classes. Just imagine how much money you’ll save!
7. Try Rounding Up Purchases
Does your bank allow you to round up purchases and put the difference in savings? If so, try it out this spring to quickly jumpstart your savings. Some apps like Acorns also allow you to round up your purchases as well.
Financial Spring Cleaning
Financial spring cleaning isn’t just limited to these 7 things. Take the time to go through your finances with a fine tooth comb and it will pay off. Ultimately, the spring is a great time to make adjustments to your financial goals and work toward a better financial future.
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