Spring is in the air, and it’s the perfect time to not only clean up around the house but to also spruce up your budget! Remember those money goals you set in January? Time to revisit them and make sure your budget reflects your financial needs for the remainder of the year. Don’t know where to start?
Here are 3 ways to Spring clean your budget:
1. Lower Your Grocery Bill
Food is a major part of the average family budget. Finding ways to cut your grocery bill can make a major difference in managing your finances. Try couponing or switching to store brands to save. You can also watch the sales papers to make sure you’re getting the best price for the products you use. It is a great idea to make a list so you don't buy things you don't need.
2. Automate Your Saving
Saving money is difficult for a lot of people. Whether it’s enticing clearance sales or your daily cup of coffee, sometimes the smallest purchases can throw you off track. In order to make saving easier, try automating the process. I call this "Pay Yourself First". Set up an online only savings account or at a local credit union. Determine a certain dollar amount to go into that savings account then automate it. Yes, have the set amount automatically deposited into the new savings account.
Another way to automate your savings to using is to try out saving apps like Acorns, which takes the change from your purchases and invests it for you. Find a way to save even if it’s only a small amount, each dollar add ups.
3. Clean Up Your Spending
While spring cleaning your home, think about cleaning up your spending as well. It’s the perfect time to cancel any subscriptions to services that you haven’t used such as gym memberships, magazines and things like that. Review your cable and cell phone terms and see if you can get better rates at another provider or by calling your current provider to negotiate the terms. Try calling your credit card company to get you interest rates lowered. The point here review things that are preventing you from saving or from saving more and cut it our or reduce the spending.
These few changes can help you make the most of your money for spring and the rest of the year. Good luck! Any additional ideas or things you do to "Spring" clean your finances, drop it in comments.
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