As you begin to prepare your spring-cleaning list, don’t skimp on spring-cleaning your budget and financial goals to promote financial wellness throughout 2023. Here are some tips and recommendations on how to check in on your financial habits and goals to promote financial wellness. 

Check-In On Your Financial Wellness  

·  Spring cleaning your finances is a great opportunity to reflect on how those goals you had set for the new year are doing. Whether your goal is to hit a savings amount, purchase a home, or set yourself up for a solid retirement – outlining your financial goals and building a solid budget is the best place to start. 

·  Spring cleaning is all about doing away with the dust and the grime that has built up to give a fresh canvas for cleaning, organizing, and new opportunity. Direct some of your spring cleaning towards your finances this season to not only boost your mood but improve your overall financial habits. 

Analyze Your Budget  

·       One of the biggest fundamentals to bettering your financial wellness is following a budget system that fits your individual lifestyle and financial goals. To master your finances, simply compare your income to your expenses to determine a spending plan to achieve the goals you have set. 

·       Regardless of the size of your financial goals, a budget will serve you well at whatever stage of life you are in. Note, a budget is something that has to be adjusted and reworked based on your changing lifestyle, goals, and income. A budget is an essential tool in improving your financial wellness. 

Check In with Yourself Frequently   

·       Bettering your financial wellness takes time and practice. Be kind to yourself throughout this process and frequently check in to take notes as to what is working and what needs some additional thought and reflection. Taking a closer look at the details on a regular basis helps you stay on track and outline areas of improvement. Periodic check-ins allow you to hold yourself financially accountable, which is crucial to financial wellness.   

·       As you have evaluated your progress, combed through your budget, and identified your progress on your savings plan, take some time to revisit which financial goals are most important to you as well as goals that could greatly enhance your financial health. Here are some ideas to consider adding or adjusting as you revisit your personal financial goals and spring-clean your plan to reach them:  

o   Stick to your budget 

o   Pay off high interest debt 

o   Reduce spending 

o   Save for a house down payment 

o   Increase your retirement contribution 

o   Grow your emergency fund 

o   Consider opening a Certificate of Deposit  

o   Grow your credit score 

o   Earn credit card rewards 

 Review Any Debt 

·       Debt can often play a huge role in our budgets. If you have any debt, be sure to list it out and update how close you are to paying it off. This may be an opportunity to adjust your budget to put more into paying off the debt you currently have. Make a plan as to how you can consolidate your debt best and continue to maintain a good credit score. 

Adjust Your Approach  

·       As you check in on your finances regularly, keep in mind you will need to be flexible as you identify both strengths and weaknesses. Make adjustments accordingly within your budget and keep in mind the things that come up in your life that could affect your budget or income.   

Reward Yourself as You Meet Goals   

·       Building a budget and improving your financial wellness is an ongoing process throughout life and is more of a journey than a destination. Financial wellness is not a one-size-fits-all so be sure to make the process functional for you. As you plan goals, also plan rewards for yourself to earn. You are more likely to stick to a budget that helps prevent overspending by increasing motivation to achieve the goal.   

Prioritize your financial wellness this year by implementing a plan and budget that truly works for you and asking for help as you see fit. As the spring-cleaning list rolls out, take time to analyze your financial habits and fine-tune those 2023 financial goals you had set to continue a path of progress this spring.