Search Icon
header-learningCenter

QUICK TIPS

Give Your Finances a Spring Cleaning!

 

Ever wonder where the term "spring cleaning" originated? No one knows for sure. Several ethnic groups and faith traditions had springtime rituals that may have evolved over time to what we consider spring cleaning today. Another theory is that, when homes were heated with coal, oil and wood, spring allowed the house to be aired out and soot removed from the furniture. But, what does this have to do with your finances? Simply put, it’s time to get a renewed look at where you are money-wise, get rid of habits or routines that are not working for you, and freshen up your finances so you can achieve your financial goals.

Apprisen offers some suggestions for getting rid of the cobwebs attached to your money management plan.

  • Roll up your sleeves and everyone get ready – When everyone is involved, there is more ownership, commitment, and accountability from each individual.  The tools and equipment you will need for this job can be as simple as paper and pencil or as sophisticated as specialized computer software. Get everyone in the house involved.

  • Set aside a specific time – Most people designate a whole day or week when cleaning their house. You may not need that much time for this task, but don’t short yourself time. You can’t be thorough if you are rushed.

 

  • Open the curtains and dust all the corners – Just as in housecleaning, you need to shine lots of light on the situation to see what’s really there. Your light is your honesty and thoroughness. Write it all down. Don’t be afraid to really inspect where the money is going. Look realistically at income you expect to bring home and expenses you anticipate throughout the year.

  • Define your vision – When you redo a room, you have a finished look in mind. Similarly, a newly “spruced up” budget requires visualizing what you want it to look like. Set some goals for yourself – savings for a new car or home improvements, reduced debt, more retirement savings. This helps clarify money management decisions you will make in the next step.

  • Throw out what you don’t need – Non-essential spending can clutter your budget like too many knick-knacks. Too much debt weighs you down and keeps you from reaching your goals. Now that you have your goals set, you can more easily prioritize where you want the money to go and what spending you can do without.

  • Make the upkeep easy – Create a financial housekeeping system that is simple and organized. Regular touchups may be all that is needed if you set it up right from the start. Give it another “whole house” cleaning in 6 months and see how you are doing.

 

Apprisen BBB Business Review United Way