Spring Clean Day 5 | Your Finances
You survived the holidays and have probably paid off your credit card bill. And hopefully you got a refund on your tax return. Now it's time to start booking summer camps, pool memberships, vacations, and classes. When was the last time you made a savings plan and/or checked in with a financial planner to discuss your big picture goals? Spring is a great time to reassess your short-term and long-term financial goals. Here are some things to do to have a fresh start:
Spring Clean Your Finances in 5 Simple Steps
1. File Your Paperwork and Shred the Rest
Get that paperwork stored away and put important tax documents in a safe along with passports, birth certificates, etc. Shred any statements or past tax paperwork (7 years or older).
2. Review Recent Credit Card Bills and Check Your Credit Score
Last year, the Barre studio I was attending double charged me for 4 months before I happened to notice it on our credit card bill. It took nearly SIX months to get a refund of these charges. It was nearly $600! And no one would have been the wiser if I hadn't noticed it on my bill.
I know plenty of people who have noticed fraudulent charges when they check their credit card bill regularly. Aside from the Barre incident, I've never noticed anything. And our credit card provider keeps a good watch on our account. I purchased some gift cards online recently and Joe and I immediately got a 'possible fraud' alert in our inbox. I confirmed that I had made the charge and everything was cool. But if I hadn't, that would've been a fast way for them to freeze the card before other charges were made.
The credit card companies aren't perfect and it's really our responsibility to keep an eye on our accounts.
3. Opt out of paper bills
You probably already do this, but it's worth mentioning. Less mail coming in means less time sorting through mail. Plus you're killing less trees. Thank you.
4. Reassess Insurance Needs and Policies
Could you consolidate your car and home insurance? We just did this and it's saving us hundreds of dollars!
Has your home value changed? Did you do any major renovations or additions? Consider taking a video of your home for insurance reasons. It's easier than ever to take a video--just use your smartphone. Save it to a thumb drive and put it in your safe. Memories fail us on the daily. This will put your mind at ease if you ever need to make a claim after a disaster.
5. Change Passwords and Store Them in a Secure Place
Ideally, we would all be changing our passwords monthly or quarterly. That would go a long way in preventing identity theft. Cyberattacks are on the rise and I am the worst at changing passwords. There are just so many to remember.
There are a lot of password managers out there, or you can do what my techie husband does: keep them all in a word or excel file, encrypt it and then save it on a thumb drive or other external hard drive.
That wraps up my week of Spring Cleaning Your Life--my contribution to the iHomeschoolNetwork's 5-Day Blog Hop.
Be sure to check back every day this week as I tackle more easy spring cleaning ideas!
Day 5: Spring Clean Your Finances | 5 Simple Things to do Today
I am so happy to be linking with the iHomeSchoolNetwork's Spring 5-Day Hopscotch. Click on the link and get inspired on a variety of topics!!