- Francesca Sacco
5 Steps to Spring Clean your Finances
Tidying up your Credit and Financial Information can lead to a Smooth Summer
Spring is here! Nothing feels more satisfying after a long winter than a little spring cleaning. But your home isn’t the only thing that needs freshened up. Be sure to add your credit and financial information to your tidying list. Here are few tips from Experian, a consumer credit reporting company, to make sure you’re making a clean sweep of your financial information.
Update your filing system
You don’t have to go crazy with file folders or labels, but make sure you’re able to easily find and access the essential documents you are saving. Overwhelmed by winter paperwork? Going through your mail is an important step, and so is purging information you won’t need in the future.
Set and Forget
Schedule your bills, like utility and insurance, for autopay. Missing a bill payment on a credit account can affect your credit score in a completely preventable way. When you activate autopay on credit accounts, you can make sure your score won’t slip if your memory does.
Say Goodbye to the Old
Is your attic, basement or garage full of memories from the past? If so, it’s time to consider letting some things go. Hold a yard sale, advertise on Craigslist or similar sites and help your possessions move on, putting cash in your wallet as you watch them go.
Check in on Savings
Unexpected emergencies happen. Being prepared for the unexpected can relieve stress when something goes wrong. Experts recommend saving for at least six months of living expenses in case of a job loss, which would allow you to use your savings instead of living off of credit cards.
Protect Passwords and Devices
When was the last time you updated your passwords and devices? Security experts differ on exactly how often you should update your passwords, but the recommended minimum is at least once a year. Regularly updating your passwords is a good idea to help keep your identity theft risk limited and your accounts less vulnerable to unauthorized access. Remember, complex passwords –with a combination of letters and numbers– are recommended.
Following these simple tips can get you ready for a smooth summer ahead with less stress about your finances.