It’s Time To Spring Clean Your Finances!
Even though it may not seem like it sometimes, it is officially spring. And when I think about spring, the phrase “spring cleaning” definitely comes to mind. I spent the all of this weekend cleaning out my closets, downsizing utensils in the kitchen, and giving away what was either too small or too ugly to keep. But that is just the beginning. Since I am all about financial fitness and making my money grow, spring cleaning also means getting my financial house in order.
Here are four things that I plan to do with get my money right for the spring.
1. Review my financial New Year Resolutions. We are a quarter of the way into 2014, a great place to check-in on your progress toward your money goals. If you wanted to eliminate debt, have you started by tracking your spending and creating a budget? If not, now is the time to do it. If you wanted to save for a big purchase, have you determined the full cost and worked out a savings schedule to meet your goal? If not, now is a great time to start.
2. Organize my files. Tax season will be ending in the next week or so, but that does not mean you should do away with those documents. According to the Internal Revenue Service, tax returns should be kept for three years.
3. Shred. I am not sure about what your desk is looking like, but mine is in some desperate need of downsizing. Shredding is an excellent way to get rid of unnecessary paperwork and safeguard you against identity theft.
4. Check my credit report. If you haven’t ordered your free credit report or paid for your credit score, now is a good time to review your report for mistakes and them. Your credit score is an important number that banks and other lending institutions use to vouch your creditworthiness. Even though there are different rules of thumb, keeping your credit score above a 740 will put you in a position to have the most desirable interest rates.
For those of you that live in or near NYC and need a little help and support in getting your money matters streamlined, on Saturday, April 12th, The Frugal Fab 5, the brown girl personal finance blogger collective that I am a part of, will be hosting an interactive budget and credit clinic called to Spring Clean Your Finances. We’ll be teaching a comprehensive WORKshop on how to get out of debt, budget and fix your credit.
For more information, RSVP here: www.frugalfab5.splashthat.com