7 tips for financial spring cleaning

first_imgby: Vera GibbonsWith spring rapidly approaching, it’s not only a great time to spruce up your home and organize your closets, but it’s also an ideal time to clean up your finances. Here are some ideas from some top consumer finance advisers:Sweep away winter bills Here’s a scary statistic: Consumer Reports estimates that 7% of all shoppers go into a new holiday season carrying debt from the previous one. And it’s costly (To see the real cost of carrying a balance, try this calculator). You certainly don’t want to continue making payments on your holiday purchases for another 9 months.“Clearing away this debt in the spring will strengthen your finances and free you up to save money for the remainder of 2015,” says Lynnette Khalfani-Cox, founder, The Money Coach.Polish your budget We’re three months into 2015. How are you doing so far? Over budget? Under budget? Have you spent more, or less, than you planned to in certain areas? If you’re close to your expectations, great, but if you’ve veered off track for any reason – perhaps because there’s been a job switch, you had a baby, bought a new house, or there’s been another life change – it’s time to re-evaluate the situation, says consumer finance expert Andrea Woroch. “Your budget will need to be refreshed to meet current needs as well as short and long-term savings goals.” continue reading » 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img


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