Spring means new beginnings. The next three months can be the most financially stable months in any calendar year. Christmas shopping is still a way off, and life feels better with the sun setting later. The next three months is your time in the sun – financially speaking, says Alisha Brady of enableMe.
Here are six tips to help you spring clean your finances.
Budgets don’t need to be complicated. If you don’t have one, then create one by printing off your last three months of bank statements, and work out what you spent. This accurate snapshot is what you will continue to do if you don’t have a plan or budget to work to. For a different outcome, work to a plan that stretches you.
Set a budget for what you spend at Christmas. Introduce a ‘Secret Santa’ giving rule this year to limit the waste.
Speak with your parents. Are they on track for retirement? It’s never too late to start making progress. Empower them to address this, as it will become your issue if they don’t.
If you are salaried, and haven’t worked a full financial year, or your remuneration has changed over the year, you may have overpaid your income tax. Go to the IRD website and use their calculators; you may be due a refund.
Balance on your credit card? Refinance it to a low interest credit card, and cut up the card.
And finally, opt for PDF bank statements, saving on bank fees.
No one is going to care about your finances as much as you. Make this spring about your new financial beginning.