7 Ways to Refresh Your Finances This Spring

Spring is the perfect time to give your finances a thorough refresh. Like you declutter your home, it's wise to clean up your money habits, reevaluate your budget, and make room for better financial choices. Whether you're noticing extra cash at the end of the month or finding subscriptions you no longer use, these seven tips can help you reset your financial foundation this season.

1. Reassess Your Spending Habits

Budgeting doesn't need to be complicated. Start by reviewing the expenses for the last few months. List your recurring bills and assign them a priority: essential, important, or optional. Cut back or eliminate those "nice-to-have" expenses. That $70 cable package? Consider swapping it for a more affordable streaming alternative.

2. Set Up Automatic Savings

Once you've trimmed an expense like your cable bill, put that money to work. Automatically transfer it into your emergency savings. If you don't already have a safety net equal to at least six months of expenses, now's the time to build one. A small change today could help you avoid a major financial crisis later.

3. Adjust Your Tax Withholding

Getting a large refund every year might feel rewarding, but it means you've been loaning your money to the IRS interest-free. Update your tax withholding to better align with your income, and redirect the increase in your take-home pay toward savings or investment goals.

4. Create a Home Inventory

Take time to document your personal belongings—especially high-value items like electronics, appliances, and furniture. Note purchase dates and estimated values, and store receipts when possible. Keeping an updated inventory will make filing an insurance claim easier if the unexpected happens.

5. Reevaluate Your Insurance Coverage

Use this season to review your homeowners or renters' insurance policy. Does your current plan cover the full replacement value of your belongings? If not, it's time to upgrade. If you've had recent life changes—like a new baby or increased income—also take a look at your life insurance to ensure your family is properly protected.

6. Use Banking Tools to Stay on Track

Modern banking tools can help you stay disciplined without extra effort. Set up alerts through your bank's online portal to notify you of low balances, upcoming bills, or excessive credit card usage. These built-in reminders are simple ways to help curb overspending.

7. Organize Your Financial Paperwork

Set up a system that works for you for important financial documents. A labeled accordion folder with monthly tabs is a great low-tech option. Keeping your records organized reduces clutter and makes tax time or financial reviews much more manageable.