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Spring is an ideal time to declutter and clean up after the harsh, cold winter. It’s also the time to think about and plan the house projects you would like to tackle.

But plans and projects can mean spending a lot of time, energy, and money. The enthusiasm to refresh everything can sometimes leave us feeling overwhelmed, especially when we start tallying up the time, energy, and, yes, the money all these projects might require. So, before you finalize your list of spring to-do’s, make sure you set aside some time to “tidy up” your finances.

Here’s a simple checklist that you can follow to freshen up your financials this spring.

1. Double-check your budget

Just as living expenses and needs can change, so can a budget. A budget isn’t the kind of thing you “set and forget.” It should be constantly evolving. Take a look at your budget to see if it’s still relevant or if you can make any changes.

2. Get rid of wasted spending

Review all of your spending habits and toss out anything that you no longer need. Things like subscription services and monthly fees for apps are things that often get overlooked because they aren’t a major expense, but they can add up quickly if you have several that you aren’t using. Gym memberships that aren’t being utilized, daily coffee expenditures, and other unnecessary spendings might be some things you can cut out of your budget. Having access to mobile banking can help you track your spending no matter where you are.

3. Plan a shred day

Financial documents can pile up quickly, especially if you have multiple accounts. Tax related documents should be kept for at least 7 years, but there are likely lots of things you no longer need to keep around. Check with the appropriate agency for related document retention best practices. Go through all of your financial documents and shred anything that is no longer needed.

4. Go paperless

After shredding all of those unwanted documents, why would you want them to pile back up again? See what documents you can start to receive electronically to cut down on paper and clutter. Sign up to receive e-statements from your bank instead of paper statements. You can eliminate the paper and have access to your account information at any time. You can save your electronic files and deleting a digital document is much easier than sorting through papers and shredding them.  

5. Consolidate payments

If you have multiple credit cards, you may be able to consolidate or pay off those with smaller balances. Spring is the perfect time to review these accounts and see what you can clean up.

6. Review your insurances

When is the last time you shopped around for auto or homeowners’ insurance? Insurance companies are always offering free quotes to get new business. Most insurance companies have multi-policy discounts, but not all of them are equal. You may find that you're saving hundreds by bundling your policies after shopping around for the right insurer. You may even end up with better coverage than what you started off with after switching.

Now that you’ve cleaned up your finances for spring you can tackle those other projects! Who knows, maybe some of the money you saved by cutting back can be used towards your projects, or that summer vacation you’ve been dreaming of.

Learn More

Citizens Savings Bank has multiple locations throughout Lackawanna, Wayne, and Monroe Counties. For branch locations and hours, visit our website. We also have a Customer Support Team ready to answer any questions you may have. Call us today at 1-800-692-6279 or email [email protected]. Member FDIC.