Spring Cleaning Your Budget: 4 Tips to Refresh Your Finances | St. Johns Bank

As the flowers bloom and the weather warms, spring is not just the perfect time to clean out your home—it’s also an ideal moment to organize and refresh your budget and finances. As you’re working on home projects and deep-cleaning, giving your financial plan a thorough cleaning will also help to reenergize and keep the stress low!

Here are four ways to give your budget a spring-cleaning to help you reach your goals and find more financial success:

1. Review your financial goals. Did you set your financial goals in January? Spring is an opportune time to review those goals and see where you are and what you can do to improve. Whether you’re aiming to save for a vacation, pay off debt or boost your emergency fund, create defined goals to guide your budget to reach your goals.

2. Review your debt. It can be easy to pay the minimum payments on your credit cards, student loans or other debts without thinking too much about it. This spring, take time to review each account and its balance to know precisely how much you have left to pay so you can set a goal to get that debt paid off.

3. Trim extra expenses. Analyze your monthly expenses to identify areas where you can cut back. You can do this by reviewing your bank account transactions, tracking how much you spend on eating out, reviewing your subscriptions and canceling the ones you aren’t using, or trying to get out of the shopping habit.

4. Check up on your budget. If you set up your budget at the beginning of the year, now is the time to check in to see if it has been efficient and if there is any room for improvement. Review spending patterns and track progress toward your financial goals. This will allow you to adjust, ensuring your budget remains aligned with your priorities and financial goals. Checking up on your budget each season is a great habit!

Try these budget refresh tips this spring, then contact us if you’d like to open accounts to help you reach your goals!