How To Spring Clean Your Finances And Save Yourself Money

Regular readers will know that I’m a huge fan of Spring cleaning. Whether it’s my home, my routine or my finances they all get a good sorting out this time of year. I can’t stress how important it is to check your finances. Not only will it help you spot any mistakes that have been made it can also save you lots of money.

It is too easy to ignore or miss those small regular outgoing payments but they soon add up and could be costing you a lot. I thought I would share my best tips to Spring clean your finances and hopefully save you some money in the process.

The Fine Toothcomb

Set a few hours aside and go through your bank statements for at least the last 6 months. If you have paper statements take a highlighter and cross through anything you don’t recognise. If like me you do all your banking online just keep a notebook next to you and jot down anything unusual.

Once you have done that it’s time to investigate. Ask yourself if you are still signed up to a subscription that you meant to cancel. Also check for duplicate payments, I’ve had this happen before where a supermarket took the same amount twice by accident.

If you find any of these problems action them straight away, leaving it any longer could mean you forget again. It might be a good idea to set a reminder on your calendar so you never forgot those cancellation or renewal dates.

Are You Owed ?

There’s nothing worse than the thought of money that’s rightfully yours sitting in someone else’s account accruing interest.

If you have switched energy supplier in the last six years you could have credit sitting in your old account. A quick phone call to your old supplier will soon tell you if you are owed anything.

Could you be owed PPI ? If you have ever had a loan, car finance, credit card or any other credit product you might be owed money. PPI (payment protection insurance) was widely mis-sold leaving people paying, sometimes unknown for worthless cover. It’s definitely worth checking before the deadline which has been set at August 29th 2019.

Paying Too Much ?

My favourite part of the financial Spring clean is seeing if I can get a better deal for the services and products I already have. If you have any contracts that are coming to an end, phone up and haggle. I haven’t paid full price for subscription TV in years.

Don’t auto-renew anything, always search the market for a better deal. Whether it’s car insurance or mobile phone tariffs, never settle until you’ve left no stone unturned.

Also if you have a credit card check if you are eligible for a 0% balance transfer. We were able to pay our debt down more quickly without the interest to pay on top.

And Finally 

Once you’ve spring cleaned your finances and saved yourself lots of money it’s time to sit back with a brew and congratulate yourself on a job well done. I like to do a financial housekeeping session once a month. But a good clean out twice a year will be just as effective.

*This is a collaborative post*


Frugal, Financial & Home Goals For May 2016

Last month we did really well in meeting our financial and frugal goals, I found a few new earning opportunities and I definitely saved on our electricity bill by line drying as much as possible, we didn’t quite meet the home goals we had set for ourselves so I’m tagging a few of last months goals on to the list for May.

At the end of every month FrugalMrW and I have a meeting to discuss what we have achieved and what we want to achieve in the coming month, we take a look at our finances, talk about how we can save or make more money and also look at anything that needs doing around our home it really helps to keep us motivated to reach our long-term goals.

Writing our goals down and sharing them with you helps to keep us accountable and we hope that they inspire you to create your own goals too.

Frugal, Financial & Home

Frugal & Financial Goals

  • Check all online earning streams daily for new opportunities.
  • Apply for focus groups.
  • Cut unnecessary spending from grocery budget.
  • Stay on top of meal & veg prep.
  • Eat from our stores.
  • Put £50 in the Christmas saving account.
  • Have free local days out.
  • Pay an extra £50 off credit card debt.

Home Goals

  • Keep gardens tidy, trim hedges, mowing & sweeping leaves.
  • Sort out storage room (again).
  • Deep clean kitchen.
  • Stay on top of clutter creep.

May looks to be a busy month for us with lots of appointments and events going on so I’ve left our goals to a minimum to accommodate.

Does having goals keep your finances and home on track ? leave me a comment I love hearing from you.

Angela xx