Spring Clean Your Finances: A Fresh Start for Your Wallet

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Spring cleaning isn’t just for deep cleaning your home - your finances should get a yearly cleaning too. Now’s the perfect time to review your budget, tidy up financial documents, and set new money goals. Here’s a To-Do list to help you get started.
Review and Update Your Budget
Start by tracking your spending and income. There are budgeting tools within Crews Bank & Trust's Online Banking* that make it easy to see where your money is going. You also can create a simple spreadsheet or there are budgeting apps and software available as well.
*To access Budgeting Tools in the Online Banking desktop site, click on the account, and on the right, you'll see Budgeting Tools. In the mobile app, click on the three horizontal lines in the left corner.
Once you’ve established a budget, review it regularly to account for and adjust for unexpected hits, such as car repairs or medical bills or trends in market conditions (gas prices soaring or increased utility bills). Review your spending and adjust categories to determine if there are unnecessary expenses that you can trim. The savings you find can be used to plan for large, unexpected bills or planned fun, like vacations or new furniture.
Declutter Financial Documents
No one likes dealing with files and files of paper. Not only is it an extra task, but all that paper takes up space. Shred or toss those older files that are no longer needed and go paperless where you can - think utility bills and bank statements. With Crews Bank & Trust’s Online Banking* your statements are stored securely online, you avoid a monthly maintenance charge, and you help the environment by reducing paper waste.
*Not enrolled in Online Banking yet? You can easily sign up on your computer here:
or on your mobile phone with the Crews Bank app from the Google Play Store or the Apple App Store.
Check Your Credit Report
Pull your free annual credit reports* by going to annualcreditreport.com (the ONLY website authorized to fill orders for free credit reports) or call 1-877-322-8228.
* You are entitled by law to one free copy of your credit report every 12 months from each of the major credit reporting companies - Experian, TransUnion and Equifax.
Review your report carefully to ensure everything is accurate. Fix any errors by contacting the credit reporting company and the business providing the information. By reviewing your credit report every year, you can also spot if there's been any identity theft.
Audit Subscriptions
Conduct an audit on your current subscriptions to determine if you are paying for ones you’ve forgotten about or aren’t using. Review your monthly bank statements and credit cards – go back as far as a full year since some subscriptions renew annually - and cancel any unused services.
If there are some you use regularly, you may be able to negotiate for lower rates or find a competitor that offers a better price.
Consider using a subscription manager app; there are several free versions available, with premium paid versions if you want more options.
Boost Your Emergency Fund
Ensure you’re on track to save three to six months' worth of living expenses. If you don’t have an emergency fund yet, open a separate savings account and set up auto-deposits into this account for each pay period. If you feel like you are living paycheck-to-paycheck, start small and don’t touch the savings unless it’s an emergency! Every year, or every time you get a raise, try to increase the amount so you can build your emergency savings faster.
Tackle Debt
Getting out of debt isn’t easy but it can be done. Review all loan payments (including credit card debt) and bills to give yourself a clear picture of exactly how much you owe. Prioritize repayment based either on high-interest debt or smaller debts to eliminate payments but stick to your method. Consider refinancing high-interest loans to lower rates.
Set New Financial Goals
Spring is a time for resetting, so set specific, realistic financial goals for the rest of the year and track your progress. A goal could be starting your emergency fund or setting money aside for a downpayment on a house. Other goals could be cutting out extra expenses (think daily Starbucks visits, impulse shopping) or cleaning up your credit report. Whatever your goal, the key is consistency – schedule regular deposits, keep track of the money you didn’t spend or set a time each week to review your finances. Turn this goal into a habit and it will become second nature instead of a chore.
By spring cleaning your finances, you’re setting yourself up for financial success, making this season the perfect time to refresh your wallet. If you need help in creating a budget, enrolling for Online Banking, setting up a new savings account, or have any other banking questions, our team is happy to help. Stop in to your favorite location, call us or reach out online:
About the Author

Elizabeth Hernandez, Senior Vice President, Director of Retail & Business Banking
Elizabeth joined the Bank in 2003 and steadily climbed the ladder to her current position as the Director of Retail and Business Banking. She is responsible for setting the operational strategy to support the growth and services for the retail side of the Bank. Elizabeth works closely with the retail teams as well as with other lines of business within the organization to develop its retail training program.