Spring cleaning your finances

Tips for spring cleaning your finances


Spring cleaning is not just a time to empty out your garage or apartment. It’s also a great opportunity to check in with your financial advisor for an update on your financial well-being.

We make choices everyday to be the best we can be by eating healthy and going to the gym so why not pay attention to your finances?

Here are some tips you may want to revisit this time of year to review your financial performance:

  • Get organized: set up a tax folder, an insurance folder and file things right away.
  • Check your credit report. At least once per year for errors.
  • Review your bank statements. Check your service fees to see if you can lower them.
  • Dig into your debt. Plan to do some extra payments on outstanding debt.
  • Cash in accumulated rewards:  flight rewards points and gift cards.
  • Review your overall financial plan. What income is coming in and what goes out.
  • Ask yourself “is my plan well balanced?”

Keep going with these questions:

  • Are you maximizing your income? For example, have you received a raise in your income and are you doing something with it? Could you be investing that extra income or use it to pay down debt?
  • Review your investments. Are they performing as you anticipated? Do you have too much of one investment and not enough of another?
  • Is your portfolio well diversified or out of balance due to market changes?
  • Are you up-to-date on the latest tax changes that could impact your finances?
  • Will your current investments continue to meet your long-term financial goals?

It may seem like a lot of work, but meeting with your financial advisor can clear up many of these questions and the rest shouldn’t take up much time at all. The peace of mind you’ll gain after doing spume spring cleaning of your finances is worth it.


Fun disclaimer:

This blog post provides general information only, and does not constitute financial, accounting, tax, legal or other professional advice. We encourage you to obtain personalized advice from qualified professionals regarding your particular circumstances. Please see our Terms of Use. 

  • Was this helpful?
  • Yes   No