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Spring is finally here and you’ve got so many projects to get to work on! Spring is the time that we declutter and clean up from the harsh, cold winter. We have more hours of sunlight during the day, the weather gets warmer and we’re feeling rejuvenated. 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. You might be surprised!  

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 if you have several that you aren’t using. Gym memberships that aren’t being used, daily coffee expenditures, who knows where you can cut back. 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 where you can clean up a little.

6. Review your insurances- When is the last time you shopped around for auto or home owners insurance? Insurance companies are always offering free quotes to get new business. You might find some savings!

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 even a summer vacation.

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.