Spring Cleaning Your Finances

De'Andre Crenshaw
2 min readFeb 23

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The season is changing, and warmer weather is ahead. As we head into spring, it is common practice to make changes and evaluate your relationships, habits, and clothes, and maybe you should look at your finances too. Financial checkups are a good tool for maintaining your financial stability. Most financial experts or advisors suggest checkups as they are an analysis of your finances. They often focus on a few things. Experts review life changes, set or reset financial goals, sketch out a budget, review retirement savings, and check if you have enough insurance.

But that is a lot to do and can seem overwhelming, so how do you do it? Take it one step at a time. First, what has changed in your life? Have you moved, got a new job, found a new partner had a child? These events can change your finances and budget, so consider them as you evaluate your finances. Sketching out a budget should be your next focus. Review your last 12 months of spending and income and average it out, can you cut spending or increase your income? Are you running a deficit or surplus from month to month?

Surplus

  • Consider increasing or creating a savings, investing, or retirement account
  • Begin mapping out new goals
  • Look at funding an insurance account
  • Pay down dent

Deficit

  • Consider a second job, more hours, or changing your job entirely
  • Look for places to cut spending
  • Limit credit usage

Doing this type of checkup can be helpful to keep you on track or get you on track. Making the changes needed after an evaluation like this and making it a regular part of your financial planning will help with your peace of mind and pay dividends over your life.

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De'Andre Crenshaw