The flowers are blooming, the birds are chirping, and spring is in the air — at least in some parts of the country. It’s a great time of year to stop and smell the finances. During spring, many of you will declutter and deep clean, but it doesn’t have to stop at the house or garage. Here are some tips for cleaning up your budget this spring.
Evaluate Your Budget
If you’ve already set up a budget, this step should be easy. Take a second look at where your money goes. It’s easy to overlook your cable bill getting more expensive or your car insurance going up a couple bucks. Those types of changes can add up and have a big impact on your budget. Check to make sure the amount of money you set aside for fun doesn’t hamper your ability to pay bills on time. On the contrary, you may have experienced a salary increase or significant drop in bills that will allow you to allocate more of your monthly income to a savings account or vacation fund.
If you haven’t yet set up a budget, don’t fret. It’s quite easy to do, and it’s a great way to save money. The first thing you should do is take an honest inventory of where your money goes. An easy way to do this is to use a budget app like Mint or HomeBudget. These apps will allow you to connect your bank accounts to see what you’re spending your money on. After you’ve done that, it’s up to you to decide how you want to split your income between bills, savings, necessities (like food) and fun.
Clean Up Your Bills
It’s time to take a second look at your bills. Do you really need to spend close to $200 a month on cable, or do you spend most of your time on Netflix anyway? Has vehicle gotten old enough to reduce your insurance expenses? You might not need as much coverage as you once did. Can you afford to put more money into paying off your monthly credit card or loan payments to save yourself some interest? Are you spending a lot on a hefty smartphone data plan when you’re in Wi-Fi zones most of the time? It’s important to take a look at the bills you mindlessly pay every month to make sure you’re getting your money’s worth. The companies you pay certainly aren’t going to spend their time to assure you’re making the best spending decisions.
Another way you can clean up your bills is by researching new services. You’d be surprised at how easy it is to get a discount on your cable bill simply by calling your service provider and telling them you found a cheaper option elsewhere. They’ll either drop the price to keep you as a customer, or you’ll have a brand new service with a cheaper bill. It’s as easy as that.
Look for Discounts
When we think about budgeting, spending seems to be the main topic of discussion. It’s important to consider where your money is going and how you can spend it smarter. Discounts and coupons are abundant and easily accessible. All it takes it some quick research to get a discount on the products and services you need.
When you’re shopping in-store, look for advertisements and newspaper inserts. If you know you’re going to need paper towels next week, but they’re on sale this week, you might as well buy them a bit early to save some money. A dollar or two might not seem like much, but you’ll save hundreds per year by shopping this way. When you’re shopping online, don’t ever checkout without searching for a coupon code. It doesn’t matter if you’re booking a hotel, buying clothing or ordering a pizza online. Companies release new coupon codes every day. You can save an extra 10 to 30 percent on your purchase simply by finding a coupon code to use at the online checkout.
However you decide to clean your budget, you’ll be much happier when you can enjoy the spring air with a few extra dollars in your pocket.
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How to Spring Clean Your Budget originally appeared on usnews.com
