How to Spring Clean Your Finances


Spring is traditionally a time for rebirth as nature comes alive and we prepare ourselves for warmer weather. Part of this is the big spring clean, which means cleaning, decluttering and reorganising your home from top to bottom. But have you ever considered taking a similar approach with your finances?    

Almost 13 million UK households have little or no savings – while many more will admit to being ‘bad with money’. If that sounds at all like you, now’s the perfect time to make positive changes for your financial future.

Read how to spring clean your finances below.

Dust off your budget

You may have created budgets in the past with the intention of sticking to them – but sometimes our situations change. A plan that made sense a year ago might no longer be fit for purpose. Now’s your chance to reassess and create a budget that’s more realistic.

Start by listing your current income and outgoings and categorise your spending into things like bills, food and fun. This way you’ll have a clear picture of your spending power – as well as any bad habits.

Throw out bad spending habits

As hinted above, creating a budget usually shines a light on areas that you can cut back on. The coffee that you buy before work everyday might seem less justifiable as a monthly cost for example, while unused subscriptions are another common flaw.

Review things like fitness and magazine commitments to see what you actually get value from. You could save lots of money by switching energy and insurance providers too.

Simplify your money

Do you find managing money frustrating? Maybe you keep it in several separate accounts that are difficult to access, or you have a hard time remembering to pay bills. Taking a little time to simplify everything will save you lots of effort in the long run.

Set up automatic payments for essential bills and organise mobile banking if you haven’t already. You might find things easier if you can see your money on your phone.

Plan your financial goals

Just like you might plant seeds in your garden for the year ahead, planning your short and long-term financial goals will help you reap rewards in future.   

An immediate priority might be to borrow money for a new car, for example, while longer-term targets could be anything from a new home to a wedding or education fees. Having a clear vision in mind will also give you more motivation to save.

Are you planning to get your money in order in line with the change of seasons?

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The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.