Financial Spring CleaningMay 15, 2015

Spring-cleaning isn’t just for the home. Take some time soon to drill down on your finances with these helpful tips:

Get Organized
What to keep? What to toss? None of this can happen with disorderly piles of paperwork. Work out the most efficient system for organizing and ensure you have a hard copy of all major accounts, transactions, payments, loans, and investments. A simple filing system, labeled and located safely in your home, is the best way to start.

Get Rid of the Paper
In many cases, automating payments or account deposits may be your best bet. Keep a short list handy of your spending money, assets, and savings and dump unnecessary notifications and promotions that have expired.

Increase Your Retirement Savings
Once you have your finances in order, see where you can pull from to increase your monthly retirement allocation. Making a 2-5% increase in your monthly allocation now will be a decision you celebrate later on. If you’re looking for an option apart from your company’s 401(k), consider a Traditional or Roth IRA with Spencer.

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