We all know the importance of a good spring clean of your home – you know….take everything out of your closets, clean, reorganize and put it back together all neat and tidy. But many of us don’t ever consider a “spring cleaning” of our money mattes. Whether you are a Saver, Spender, Risk Taker, Security Seeker or a Flyer we all like the smell of a nice clean house – we suggest cleaning your “financial house” together, here’s how:
1. Dedicate a day - Your house takes a day to spring clean, so do your money matters. Put the date on the calendar and if you’re married do it together! Take a personal day from work…call it your “Personal Money Day”, set all distractions aside, roll up your sleeves and remove the cobwebs from your budget.
2. Decide which rooms are going to get cleaned:
3. Empty the closets – Get all of your statements and documents pulled together. Get all of your receipts, Insurance statements, tax returns, investment statements, retirement statements and Estate Planning documents pulled together.
4. Put everything back in to place –
Receipts – Clear the clutter.
Debts – Shop for lower interest rates.
Insurance – Discuss coverage.
Taxes – Check withholdings are right.
Investments – Evaluate asset class mix.
Retirement – Adjust any amounts.
Estate – Get your will or trust in place.
Few of us love to clean, but the results are so worth it!
Make it Happen!!
Scott & Bethany Palmer
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