Spring CleaningHere in New England, spring is waited on for so long that when it’s finally here, we pull out all the stops. The minute those thermometers touch the 50-degree mark, we break out the motorcycles, crank open the sunroofs, pull out the patio furniture, and slip our feet into sandals. Our next thoughts lead us to spring cleaning. It’s inevitable because once we open the windows, we notice that extra layer of dust on our furniture highlighted by the sun’s stronger rays. Spring cleaning in all its forms, whether donating old clothes, cleaning under the couch, or power-washing the house, is refreshing and leaves us feeling lighter, happier, and invigorated to tackle more big projects. That’s what brings us to the idea of spring cleaning your bank account: clearing up old accounts, tackling debt, and organizing our budgets, all to leave us in a better position for the future and help us on the path to building wealth.

Here are a few tips to help you save time and money while getting the most out of spring cleaning your bank account!

  • Check your credit report. You can check your credit report for free at https://www.annualcreditreport.com/index.action. Once a year, you have access to a free credit report from the 3 major credit bureaus. Review each copy in detail and be sure to follow up on any inaccuracies or issues you find.
  • Set up automatic bill pay. By signing up for automatic bill pay, you’ll never have to worry about a missed payment impacting your credit score.
  • Sign up for e-statements and text alerts. Converting to paperless billing, for monthly bills and for your bank accounts, will help you keep your house more clean and organized and will help protect you from fraud.
  • Manage your money from wherever you are. Utilize your bank’s mobile app to check your balance, pay your bills, transfer funds, deposit a check and send money to friends while on the go.
  • Review your budget. A lot can change in a year. If you’ve been promoted, had a child, or purchased a home, be sure to update your budget. Determine what expenses are important and identify areas where you can cut back. Develop a strategy when determining your budget – and stick to it because it will save time and money for you in the long run.

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Written by Taylor D'Italia