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7 Ways to Spring Clean Your Finances

This article was updated on March 23, 2022.

These first few weeks of warmer temps and extra daylight always prove to be just what we need to feel rejuvenated and inspired here in the Midwest. Many of us are also bitten by the cleaning bug in early spring. You may have already created a list of things to tidy up around your house and yard in the coming weeks—why not take some time to clean up your finances, too? Here are seven steps you can take this season to get your finances in order.

Hundred dollar bills hanging on clothesline

 

Organize Paperwork

Gather all your financial documents together and get them in order. Determine what method—a binder, a folder, a small filing cabinet, a folder on your computer—works best for you and your space, and dedicate it entirely to your financial paperwork. Important documents that should be saved for at least a year (tax information, healthcare documents, invoices, payment confirmations, pay stubs, and so on) should be stored in a safe place, and preferably in a manner that's easy to sift through. Categorize and label away!

More information on:  Organizing Financial Paperwork

Toss & Archive

Chances are, financial documents two years or older can be tossed. If you've dropped the job, ditched the coverage, or moved into a new place, you can get rid of them—especially if you have electronic versions as well. Get rid of anything you absolutely don’t need and archive documents that you may or may not still need (some states require you to hang on to documents like tax filings for up to ten years) by scanning those documents and saving them into a folder on your computer, phone, or cloud service. You can even scan documents using your phone (here's how)! Don’t forget to thoroughly shred or cut up documents with your name and private information on them before recycling them to prevent identity theft!

More information on:  How Long You Should Keep Your Financial Documents

Go Green

Most financially-related processes and documentation can be completed and viewed online and on mobile devices. From e-statements to online bill pay, and depositing checks to mobile transfers, 3Rivers online and mobile banking have you covered! If you're an "I need proof on paper" kind of person, just create a folder on your computer and take screenshots or save documents—like payment confirmations, invoices, and more—and store them on your computer. You might create a document for confirmation of payment codes as well. Finally, make a list of all of the online accounts you're signed up for and look into password keepers, too. Don't forget to protect any folders or files containing this information with a password (here's how)!

More information on: 3Rivers Online & Mobile Banking

Check Your Annual Credit Report

A lot can happen during those periods between checking your credit report in full. Plan to make spring cleaning season the time of year you take advantage of your free, annual credit check-up. This will help you catch any potential errors or suspicious activity on your report that might be lowering your score or alert you to identity theft. And if you're a 3Rivers member, you can continuously monitor your credit score and get alerts of credit-related activity for free using our Credit Sense tool!

More information on:  How to Get Your Free Credit Report

Pay Down Debt

Old debt on credit cards you're no longer using? Feel like you're getting nowhere on your loan payments? Use our free LoanSaver and SavvyMoney tools to get a better idea of your overall current financial state and existing debt, then construct a detailed plan to start paying it down. There are several options and strategies for tackling your debt—from paydown methods to debt consolidation to credit card balance transfers and more. We're always happy to help you come up with a plan customized to you!

More information on: Options for Managing Your Debt

Review Insurance Plans

List out all of the insurance you currently have and make sure you're fully covered—and at the best price. As life circumstances change—marriage, divorce, a new home, rental, car, job, or baby—insurance needs likely do, too. Make sure your health, car, homeowner, life insurance, and more are still providing you with the best coverage at a price best suited for your budget. Check out 3Rivers Member Insurance to compare options from over 40 different providers and see if you're able to save money and/or get better coverage!

More information on:  The 5 Basic Insurance Policies Everyone Should Have

Clean-Up & Maintain Your Ride

Did you know that physically cleaning up and clearing out your vehicle is one way you can save a bit on fuel costs? Ridding your car of all that stuff that's accumulated over the winter months results in less stress on your car, in turn burning less fuel. While you’re at it, make it a point this time of year to get your car tuned up and check your tire pressure. Keeping your vehicle in tip-top shape can save you a lot of money in repairs in the long run!

More information on: Maintaining & Driving Your Vehicle for Better Fuel Performance

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There’s nothing better than a freshly cleaned home and the feeling that comes with it. On the same token, getting your finances in order will feel just as good—if not better. 

We're happy to help! Our team can work with you to get your finances in better order or walk you through any of the tips mentioned above further. Feel free to schedule an appointment with us or visit your nearest branch to get started.

Let's Talk!

Happy spring cleaning, readers!

You might also like: How to Organize Your Financial Documents | Get Your Finances in Shape | 5 Budget-Friendly DIY Household Cleaners | Ten Ways to Improve Your Home Without Buying Anything New | 14 Ways to Save Money by Going Green

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