A 2020 Financial Spring Cleaning Checklist

The 2020 Spring season is upon us and with it comes beautiful rays of sunshine, flowers, fresh breeze and an inspirational awakening to clean our living spaces. As you embark on spring projects, remember to freshen and organize your finances with this checklist.

Goals are a the road map to success. Financial goals must align with your life’s vision. Reviewing your long, short and retirement goals will help you gauge your financial path. As you review your goals, remember to review your budget.

A budget is the vehicle that helps you achieve your goals by making sure all your finances are properly spent, saved and invested. Modern apps such as Qapital and Everdollar, which I use, can help you develop good money habits. Remember to also review your emergency and opportunity funds.

Habits become our lifestyle. As we evolve, we must weed out habits that rob us of financial security. For instance, if your money is always tied up in shopping, give that money a new purpose by investing it in a CD, a high interest bearing account or the stock market. By doing this, you will replace your money spending habits with a money compounding habit which could potentially expand your future shopping experience without harming your financial security.

Life is unpredictable and circumstances can force us to use credit to fill in emergency gaps. There is nothing wrong with this as long as using credit cards does not become a lifestyle habit.

This spring, review your bills, create a plan by contacting your creditors, and set up a debt free deadline. Automate your bill pay to ensure that they are paid on time. Face your debts head on with the ultimate goal of being debt free for a secure financial future. Remember to shred old financial documents and organize all other paperwork.

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