Spring is one of my favourite seasons! I always feel like I get a new lease on life. Spring signals the end of tax season, which means I have more time to relax, declutter my space, work more seriously on that summer bod, and it’s also a good time to hit refresh on my finances.
Here are 3 ways you can spring clean your finances.
Audit your subscriptions. I’m talking Netflix, Hulu, Audible, Spotify, Amazon Prime, Diet/Fitness apps, BarkBox, and the list goes on! Look through your bank and credit card statements and tally ‘em up (don’t forget the annual ones). Are you surprised at how much you’re actually spending? The next step is to cancel anything unnecessary or redundant.
Reduce your credit card limit or better yet, stop using your credit card! Take a set amount of cash when you go to the mall, grocery store, or when eating out. Also, delete your credit card information from your shopping profiles (ahem, Amazon - I love/hate you). By doing this, you are removing the temptation to overspend.
Implement the 72-hour rule. This is one of the best ways to curb impulse shopping and tackle overspending. The next time you want to buy something, wait 72 hours before adding it to your cart. During this waiting period, ask yourself: Do I actually need this? What else can I use this money for? Can I get it for less? Giving yourself this time-out will help you reevaluate whether or not you really need to buy the item.