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Spring cleaning your finances

Roll up your sleeves, because it’s time to make your financial spring cleaning list. Where should you start? With a little elbow grease and these five tips, your finances will be in good condition in no time.

1. Make a to-do list

It can be easy to lose your way when cleaning and get distracted by another chore, or avoid the task altogether. Writing it down makes it more concrete. Making a financial to-do list provides some structure, outlines and prioritizes each task, and allows for small celebrations each time you complete a ‘chore’ from your list.

2. Dust off your budget

The best way to achieve your goals and reach life’s financial milestones is to budget regularly and track your spending. We offer an online budgeting tool that you can use to track and budget day-to-day expenses. Budgeting regularly not only reduces financial stress, it also helps you move closer to accomplishing goals like paying off debt or saving for that first down payment.

2. Clean off and organize any late payments

Clean out that financial closet and make a list of your monthly payments, noting the monthly due date for each. Look for patterns that could help identify ways to improve your spending habits. Set up automatic payments for bills that are due on the same day each month or set up a recurring payment for bills that come on, or about, the same date each month.  

3. Toss out debt

Don’t hold on to old debt. Go through your finances and get rid of debt that is holding you back. Maybe you can’t pay it off in full today, but creating a plan to tackle debt is the first step to making changes. If you have more than one source of debt, you might benefit by targeting one debt at a time, or tackling it all and talking with a lending specialist about consolidating your debt into one easy payment.

4. Polish your savings goals and plan how to save for the future

Take time to plant seeds for your future by creating a savings plan with clear goals and a timeline that you can adjust as your needs change. Having a plan will help make it easier to navigate changes in the future. Pay yourself by opening a savings account — if you don’t have one already — and setting up an automatic deposit, putting something aside each time you’re paid.

5. Know when to call in the experts

Sometimes you need a specialist to help you get through the tough tasks or provide the added support you need when undertaking a financial spring cleaning. We have the products and the knowledgeable specialists to help you tidy up your finances, feel a sense of accomplishment, and stay on course for your best financial future.

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