Spring is the Time to Tidy Up the Monthly Budget
It's not just the house that will benefit from a spring cleaning.
Spring is the time for cleaning. You can air out your home and get the salt from the winter off the car. Did you know it is also the perfect time to give your monthly budget a tidying up? The winter is full of spending habits that will damage your chances of success. Here are some of the ways you can clean up your spending and get back on track.
The Time to Start Fresh
Spring is a great time to give yourself a fresh start. A popular saying is "out with the old and in with the new," and that applies perfectly for your monthly budget.
Start off by looking at your monthly spending over the winter. How has it matched your predicted spending and the limits you set in your budget? There are high chances that you got into some bad habits that you need to curb right now. Take a look at the last three month's at least to make sure you find all those tiny spending amounts that you completely forgot about.
Tidy Up all the Paperwork
You likely have a lot of financial paperwork lying around. It's easy to go through the day without opening the bank statements or the credit card reports. You don't want to admit just how far off track you are.
Well, the spring is a great time to organize the files and check all those statements. You never know, they may be better than you expected. This is also the time to switch to online statements, and that could save you a lot of money considering more businesses are charging for paper billing.
Next step: Get all your accounts together by downloading Mint's budgeting software today.
It's time to tidy up those expenses and get your monthly budget back on track.
Curb Your Expenses
Find ways to cut down on your outgoings as much as possible. Do you really need to pay for all those separate insurance policies or can you lump them together for a discount? Could you cut back on haircuts and manicures so your monthly outgoings are not as stretched?
The spring is a great time to do this, since you can start planning for the summer. You want to be able to spend money on fun during the summer months, but you need to plan for that. Put the money you save - as long as your budget allows - into a pot for the summertime fun.
Reorganize Your Monthly Budget
You will find that you need to look at your monthly budget again. Your energy bills may be higher than you expected, and you need to find somewhere to get that money from.
Sit down and manage your finances completely. Check your income, and divide it up to make sure the necessary outgoings are paid off in full. Next, look at your debts and savings to make sure you clear the former and put money into the latter. Now you can look at luxuries.
The spring is the time to start afresh. It's a chance to look at the old, and toss it out. Get your monthly budget back on track, and start saving for that summer fun.
Next step: Keep your finances in check and spring clean on the go with Mint's budget app.
Alexandria Ingham is a freelance writer with experience in technology, business and personal finance.