Spring Cleaning for your Finances
It is that season again – the days are getting longer, we are filling up with more energy and it is time to take out the duster and start the spring cleaning. But this year make sure you start in your financial closet. How many years of spider-web covered statements, unsorted bills or tax declarations do you have stuffed in there over the last decades? It is time to give your finances a brush-up.
It is easier than you think! First of all, organize your paperwork with only three folders: one for financial statements, one for credit cards and the last one for the rest. Then get rid of any bills older than six months. Next step: take a good look at your investments. Do you really need all these fonds? Is there a way to combine some or sell others? Fact is: the less diverse your investments are, the lower the fees you pay. Now it is time to review your expenses and find new ways to save money. Some tipps: Look at how much you spent on Christmas presents.
A lot? Well, it is easy to cut down on costs here without cutting down on gifts. Just buy your presents throughout the year – at sales or even after Christmas where you can get great bargains. Another advantage: this way you do not have to panic about presents two days before Christmas. Also, consider the back road – does anybody owe you money? Are there any financial benefits a company, a fund or an insurance still owes you? Think also about government payments that you have not accessed yet but are just there waiting for you. With those few tipps, cleaning can even be fun!