Five Tips for a Good Financial Spring Cleaning
April 21, 2023
Spring is finally here! The weather’s starting to warm up, and with that comes the urge to clean and start fresh.
Cleaning doesn’t have to relate only to decluttering and deep cleaning your house – you can also clean up your finances. Here are five tips to spring clean your finances to stay on track to hit your financial goals as summer approaches.
Refresh your budget
Check your budget to see how it’s working for you. Are you staying under, going over, or coming in right on budget every month? There might be some ways to save more or less if you need to adjust. Reevaluate your spending habits and choose what’s most important to you. You might want to cut back on eating out, online shopping, or other nonessential spending.
Set or revisit financial goals
It’s always a good idea to revisit your savings goals and see how you are doing for the year. If you haven’t already, try setting up automatic transfers to move money to your savings account. For example, you could have a portion of your paycheck automatically deposited to a savings account of your choice every payday. These transfers are easy to set up and can help you become more dedicated to saving.
Cut down on the clutter
If you have paperwork lying around, consider making the switch to digital. Digital documents are more easily located, accessible, and organized because they can be stored in one place. Go through any mail and other documents you have received this year and shred the ones you don’t need – making sure you have a digital copy first. OUCU has a free Shred Day where you can bring any paper documents or mail and have them shredded. https://www.oucreditunion.org/events/session/cn946jmrcsw4c3lt41n8
Cancel unused or unnecessary subscriptions
Take a look at all of the streaming services and monthly subscriptions you have. Chances are you might not use some of them as much as you expected. Cut back on the subscriptions that no longer serve you for an easy way to save money.
Seek out financial advice
No matter what stage you’re at in life, it’s always helpful to get guidance from experienced and knowledgeable financial experts to ensure you’re able to achieve your financial goals. At OUCU, we offer extensive amount financial resources. OU Credit Union Financial Solutions is here to help with any investment or financial planning you may need, whether it’s financial guidance, creating a plan, or just getting a second opinion. There also are financial education seminars available every week that span a range of important financial topics. Learn more https://www.oucreditunion.org/financialplanning.
Tags: Tips and Tricks