![]() Any fees pop up that don’t look familiar? Did your credit card charge a bogus fee? Are you paying any account maintenance fees?.While you’re at it, make sure you have a current beneficiary designation for each account. You don’t want tax forms or checks going to the wrong address. Next, go through your accounts and ensure your personal information is correct. This is important so that you don’t get locked out of your accounts and have to jump through hoops to get back in.Ģ. Then, consider using an online password manager like Google to make sure your accounts have strong passwords, as well as the correct recovery email/phone number.Ask yourself, does each account serve a clear and distinct purpose? If you have 3 checking accounts and 5 savings accounts, it’s probably best to consolidate unless there is a reason not to.It’s helpful if you already use an app like or similar to keep track of things. Bank, investment, 401k, credit cards, etc. First, make a list or spreadsheet of all of your financial accounts. Ok so I need to get financially organized. So, now that we’ve covered a few reasons why it’s important to spring clean your finances… If your beneficiary designations are incorrect, who ends up with your money? Forgot to update your personal information on your disability insurance? Now they can deny your claim. You also could subject yourself or your family to hardship in case something happens. If you’re not organized financially, you’re subjecting yourself to late fees, accrued interest charges, high expense investments, overpriced insurance policies with inadequate coverage, the list goes on. The reason you want to spring clean your finances is, well, because money touches everything. Plus, some companies have gone so far as to charge a monthly fee if you stay on paper documents. You’re likely done filing your taxes, or close to it, and also probably still have your year-end statements and documents on file.Īnd if you still receive paper statements from the bank or your insurance company, it’s time to enroll in e-delivery! Not only is it better for the environment, but that’s less clutter you have to deal with, and it’s easier to organize your files online. If you think about it, Spring is also a pretty ideal time to clean your finances as well. But how or why would I spring clean my finances? Or you might take the sunnier days to spruce up your garden, organize your pantry, and finally move the couches outside so you can clean under them without fear of a dark cloud soaking them before you’re done. Some might say the rain and snow season is over, so time to clean those gutters, wash those windows, and filter out your closet for winter clothes you just won’t wear anymore. Think about which credit card features you really need to find the best credit card for you.Why is the term “Spring Cleaning” so popular? What makes Spring particularly beneficial for cleaning? ![]() If you carry a balance from month to month, then find the lowest interest rate possible. If you pay your credit cards off each month, obtain a credit card with the best rewards or a cashback card. Know what kind of credit card user you are. By waiting for them to return your money to you, you’re giving the federal government a tax-free loan instead of using that money on your expenses throughout the year. Many people get a large tax refund every year, but actually, this should not be the case. Since you are already preparing to file your tax return, check your deductions on your W-4 tax form. ![]() If there are no surprises and you just need to improve your credit, work on lowering your credit utilization and paying your bills on time every month to repair your payment history. Contact the respective credit bureau (Experian, Equifax, or TransUnion) to fix any errors you find. Go to and review yours for any errors that may be impacting your credit score. You are entitled to a free credit report once a year.
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