As the daffodils start to bloom and the days get longer, you know that spring has begun. There is no better time to start spring cleaning both your home and finances.

Here are some ways to get started.

1. Review your spending by creating a budget

This may sound like a tedious task but put together all your expenses on to a single spreadsheet and reassess whether you need all those expenses or can you make some changes with how you are spending.
You can use budgeting tools to help you get started.

This is the start of the decluttering process.

2. Declutter your subscriptions

If you haven’t used a service/subscription for a while, think about whether you really need it. If not, then it’s time to ditch it. This is also a good time to review your bills and contracts to see if there are better alternatives available.

3. Clear any outstanding debts

First of all, make a list of all the debts that you owe.

Next, categorise them between priority and non-priority debts. Priority debts are those that need to be paid off first such as mortgage repayments, council tax and energy bills.

Non-priority debts are those which still need to be paid but aren’t as critical as priority debts. Examples include crefit cards and water bills.

If you have issues with debt, always seek debt advice. Some of the services that you can turn to include Money Advice Service; Debt Advisor Service; Step Change; Citizens Advice Bureau to name but a few.

4. Reset your financial goals and start planning for the future

Did you make new year’s resolutions that you haven’t kept? Springtime to revisit those goals and see how realistic they were. It’s also a good time to set financial goals and open a savings account (if you haven’t done so already) so that you can start saving to reach that goal.

It’s also a good time to start saving for Christmas or that dream holiday.

5. Automate your savings and get some headspace back

If you struggle to remember to put some money aside every month, then there is no better way than automating your savings. By doing this, not only will you be less stressed but you would have enough savings for a rainy day. A good way to start automating your savings is through your salary. You can set one up through our Salary Saving Scheme.

6. Review your insurance policies

Springtime is a good time to review any changes that have happened in your life that will need you to consider taking out a policy for financial protection. Some of these may include having a baby, getting married or buying a home. It’s also a great time to review homeowners or rental insurance policies as well.

7. Do an actual spring clean

Did you know that dirty hobs, windows and dusty radiators can hike up your energy bills? Take advantage of the spring cleaning bug and clean your home. Your wallet will thank you.

After you have done your financial spring clean, you will get a feeling of accomplishment for getting your financial house in order.