5 Tips to Spring Clean Your Finances
Spring is a great time to clean out all areas that are overstuffed with junk. While most of us think of spring cleaning our homes and yards, we should also look at our finances. Spring is a great time to refresh and clean up everything. With these five tips to spring clean your finances, you are on your way to a tidy budget.
1. Dust Off Your New Year's Resolutions
Use spring's fresh energy to revisit your New Year's resolutions list. What were your budgeting goals? What were your savings dreams? Have you achieved any of those goals? If not, what's holding you back?
Do it today: Dig out your New Year's resolutions and review your financial goals. If you haven't started that savings account yet, start it today. Tweak and adjust as necessary. Create a new tracking system if the existing one isn't working. Then, get out there and own those goals!
2. Sweep Out Your Monthly Budget
Review your spending habits for the last few months. What are your weak spots? Where can you cut back? It's time to take stock! You might be surprised at what things are draining your account.
Do it today: Review your monthly budget and choose one area to trim. Create concrete and realistic steps to make that happen. Your budget will thank you! If you need some help, Elevate Credit Union offers Free Budget Counseling. Take the worry out of your budget, and let us help you.
3. Freshen Up Your W-4
If you're celebrating a generous tax return, it means the government has been handling some of your money. You could have used those funds to start investing, add to an existing emergency fund, or even launch a business. Take a closer look at your W-4 so you don't overpay in taxes again this year.
Do it today: Research your best withholding options or ask your accountant to help you determine the numbers. Adjust your W-4 accordingly and submit it to the payroll specialist at your workplace.
4. Pile Up Your Savings
Once you're trimming your budget and taking home a larger check each payday, why not bump up your savings? You can add to an existing fund, build a new one, open a Certificate of Deposit, or start investing.
Elevate Credit Union offers many savings-building options. Come in today or visit elevatecu.com.
Do it today: Stop by Elevate Credit Union to set up a Direct Deposit after choosing a savings option. Then, your money is automatically transferred from your checking account to your savings vehicle. Savings, done!
5. Toss Your Debt
This spring, while you make piles of junk to toss in the trash, why not get rid of your debt, too?
Do it today: Paying debt isn't easy, but you can do it! All you need is a realistic plan. Review your debts and pick the one you want to pay off first. Find a way to double your payments by increasing income or trimming expenses. Once done, add the extra amount to the next one to toss out. Eventually, you'll kick all of your debt to the curb!
With these 5 tips to spring clean your finances, your dirty finances have no chance. Elevate Credit Union is here for you! Whatever your needs are, you can count on us to help you.