Clutter is a common annoyance, especially in a busy household. But did you know it sneaks up in your financial life as well? And that it can also cost you money?

“Financial clutter” is distracting, and it makes it hard to see the progress you’re making toward your financial goals. It can even hide problems until they become big and urgent.

Clutter doesn’t appear out of nowhere. It grows over time, adding another layer of stress to our already busy lives.

The solution is simple: Get rid of the clutter.
If you focus on a few key financial areas as part of your spring cleaning, a little bit of tidying up can go a long way. Here’s where to begin…

Organize Your Documents & Accounts

Have piles of statements or documents piling up? Go through them and decide: Can I set up paperless statements or billing to reduce the clutter? Do I actually need to keep this? If so, back it up digitally and file it away. Shred everything else.

Next review your accounts. Do you have bank, credit, or other accounts you haven’t used in months? If you’re paying fees for those, consider closing them (if doing so wouldn’t ding your credit score).

Review Your Beneficiaries

We recommend reviewing your beneficiaries and estate documents regularly so that you can make sure the people, trusts, and institutions you have listed still represent your wishes.

If you don’t already, we strongly recommend renaming a second or contingent beneficiary or representative in case the primary is unable to step in or inherit assets.

Go Over Your Insurance Policies

We recommend reviewing your beneficiaries and estate documents regularly so that you can make sure the people, trusts, and institutions you have listed still represent your wishes.

If you don’t already, we strongly recommend renaming a second or contingent beneficiary or representative in case the primary is unable to step in or inherit assets.

Reconsider your Tax Withholdings

Don’t let the wrong withholding give Uncle Sam a free loan or set you up for a surprise tax bill! Take a fresh look at your withholdings, and think about changes in your family, income, and/or assets over the past year.

Automate Your Savings

Haven’t reviewed your savings in a while? Now’s the time. When you have subscriptions that are auto-drafted, it’s easy to forget about them and spend more than you intended. On the flip side, automatic deposits into savings make it easy to save more with less effort.

Explore the options available from your financial institution. Transfers can be set aside from direct deposits or as recurring events at any frequency. As you consider the options, think about what you need to put away for future plans, upcoming tax bills, and the unexpected rainy days.

Check in on your Financial Goals

Financial spring cleaning isn’t just about removing clutter and setting up systems. It’s also about restoring clarity and reconnecting with the purpose of your financial life.

Take some time to revisit and reflect your financial goals and how they connect to your values. Are you still working toward the same dreams?

Financial Lesson:
When You Get Rid of the Clutter,
You Make Space to Enrich Your Financial Life.

Few of us have our financial lives in perfect order. Even if we get close or we do achieve it, perfect order is never a finish line. It's a moving target - because life isn't static. That's why we have to maintain our financial lives to sustain and enrich them.

Some simple spring cleaning sets us up to be proactive & establish good financial habits. And it isn’t limiting to your personal finances. It can extend to business, philanthropy, relationships, and beyond. No matter where you focus your next financial spring cleaning, our financial advisors can help you analyze your current situation and give you tailored advice. Let’s talk.