She Strengthens

Spring into Financial Fitness

As the seasons change, many of us feel the urge to declutter and organize our lives. But while we’re busy tidying up our closets and kitchens, it’s easy to overlook one crucial area: our finances.

Dust Off Your Budget

By March, many New Year’s resolutions have fallen by the wayside. Don’t let abandoned budgeting goals get you down! Use the spring season as a fresh start to revamp your financial plan.

Plug Those Leaks

One simple way to spring clean your finances is to identify and eliminate unnecessary expenses. Review your credit card statements to ensure you’re not paying for services you no longer use. Check your HSA card, transit pass, gift cards, and other accounts for leftover funds. You might be surprised at how much you can recover!

Negotiate Your Way to Savings

Take control of your spending by analyzing your bills and negotiating with service providers. For example, call your internet provider to renegotiate your rate before they raise it. You can also review your car insurance, renter’s insurance, and other annual or semiannual payments to ensure you’re not overpaying.

Rebalance Your Budget

Once you’ve tackled unnecessary expenses and negotiated savings, it’s time to rebalance your budget. Examine your spending categories and adjust as needed. If you’ve managed to free up extra funds, decide where you want them to go – whether it’s into your emergency fund, debt repayment, or savings for a summer vacation.

Guard Against Identity Theft

Don’t forget to check your credit report at least once a year. This crucial step can help you detect identity theft and fraud. You can request a free credit report from each of the three major bureaus – TransUnion, Experian, and Equifax – at annualcreditreport.com.

Boost Your Credit Score

Improving your credit score can have a significant impact on your financial health. One easy way to do so is to request a line of credit increase from your credit card company. This will decrease your credit utilization rate and demonstrate your ability to manage credit responsibly.

Take Control of Your Finances

Spring cleaning isn’t just about dusting and decluttering – it’s also about taking control of your financial life. By plugging spending leaks, negotiating savings, rebalancing your budget, and guarding against identity theft, you’ll be well on your way to a stronger financial future.