With new life popping up everywhere, spring is a great time to start fresh. Spring cleaning is often the first approach to rid your home of dust and dirt after the long winter. But spring cleaning can also apply to your finances.

As you work on cleaning your home and organizing your life, keep these spring cleaning tips in mind for your finances.

1. Order a Credit Report

How long has it been since you reviewed your credit report? You can get up to two free credit reports each year. If it’s been awhile since you last checked your credit report, make sure to get your free report this spring.

Checking your credit every six months can help you make sure you haven’t become a victim of identity theft. Also, review your report for any errors and have them corrected. If you have open credit cards with a zero balance that you no longer use, now is a great time to close them out.


2. Review Your Will and Beneficiaries

As you spring clean your finances, don’t forget to review your will and make sure it’s up-to-date. While you’re at it, review your beneficiary information for life insurance, 401(k) plans, trusts, etc. If you experience a life change, keep your beneficiaries updated throughout the year.

3. Shred Private Documents

Identity theft is a significant threat in today’s world. Avoid increasing your risk by shredding documents with private information. Take a moment this spring to shred your documents with a personal shredder or use a shredding service. Local residential shredding services can be scheduled to come to your home regularly or on a one-time basis.

“As you spring clean your finances, make this the year to create your long-term care plan.”

4. Revisit Your Budget

A couple times a year it’s a good idea to review your budget. As your needs, income, or bills change, it’s time to revisit where your money is going. Look at your expenses and see if there are any areas you can cut back or any areas that need a budget increase. If you’re tired of paying for high internet or cable services, call your company to see if you can negotiate a lower monthly payment. If they won’t budge, considering switching to a new company.

5. Consider Your Insurance Coverages and Future Needs

Do you have adequate insurance coverage to meet your needs? As you get older, your needs change. When you reach the retirement planning ages of 45-65, it’s important to think about your future care needs. Long Term Care insurance pays for care in your home, an assisted living facility, or nursing home. Premiums are based on your age and approval of coverage is based on your health. Find out if you may be eligible for coverage and learn about your options by speaking with a Long Term Care Specialist.

As you spring clean your finances, make this the year to create your long-term care plan. Speak with an LTC Specialist today to learn more.