How to Spring Clean Your Finances

April 26, 2021
April is Financial Literacy Month, which is a great reminder to review your finances and make sure you’re on track to meet all of your financial goals. In the spirit of spring cleaning, take steps this month to get your money in order.

Here are a few tips from our team here at Point Breeze Credit Union to help you with your financial spring cleaning:

Create a livable budget

There is a good chance you know how much your paycheck is each month, but do you really know where your money is being spent? The real answer could surprise you, which is why it’s important to take a realistic look at what you make and what you owe.

You can do this easily through Point Breeze’s Money Management tool, which lets you view all of your accounts in one place and shares a snapshot of your spending over time. Money Management can help you track your spending, establish budgets, review your debt payoff forecast and more. Access Money Management when you login to your Point Breeze online banking account.

Check your balance

Review your accounts on a regular basis to keep up with transactions and to watch for any fraudulent activity that may occur. Check this regularly through your online banking account or set up mobile alerts to notify you of low or high balances and high withdrawals, among others. If you are impacted by unauthorized activity, notify your credit union as soon as possible.

Prepare for major financial milestones

You know the current bills you have to cover – rent or a mortgage payment, utilities, groceries and gas – but to really prepare your finances, you should look beyond what you pay now and think about the bills you might have in the near future. Map out major expenses you may have throughout the year and update your financial plan around these milestones. Are you planning to get married, have a child or go through a major career transition? Are you considering a large financial purchase, such as a home or car? Any of these could constitute an expense that's not part of your current monthly budget. Think about these objectives now to ensure that you don't fall behind financially this year.

For more advice on your personal financial planning, see more helpful blog posts.