Financial Spring Cleaning for Stress Relief

Spring is here. I always like this time of year. Time to refresh. Just like spring cleaning can bring a sense of calm, spring cleaning finances can work wonders for reducing stress and restoring financial health. In this blog, you will discover the power of financial spring cleaning  for stress relief.

It’s important to have a place where you review your finances and that’s organized. Creating a quiet, decluttered space in your home where keep your financial documents is a game changer. It helps reduce anxiety as you know everything you need is in one spot and that saves time.

💡 Pro-Tip:

1. Designate a specific area and clear it to make it easy to to review and do financial tasks.
2. Use a filing cabinet, drawer or even extended file binder to keep all your documents in on place.
3. Use tools like budgeting apps or spreadsheets to help you keep track of your income and monthly expenses–reducing paper clutter.

Just as clutter in our physical space can cause stress, the same is true financial clutter. That overwhelming feeling or maybe dread can impact your mental and emotional stress levels. To clear your financial clutter, begin with an inventory of your expenses and income. Make sure to include everything (bills, groceries, gas, entertainment as examples). This provides you with a full record of your income is being allocated.

💡 Pro-Tip:

• Compile all financial documents such as bank statements, credit card statements, bills, and receipts.
• Review all documents to identify recurring and periodical, and sources of income.
  • Highlight expenses with a red highlighter.
  • Highlight income with a green highlighter.

Take time to set financial goals. When your financial future is unclear that can be another major stressor. As with any unknown, the best thing to do is to focus on what you can control to help reduce your stress. Thus, be proactive in the financial goals you create. Working on achievable goals helps you prepare for the unexpected curveball life throws at you.

💡 Pro-Tip:

1. Make sure your goal is specific and tailored to you.
2. Determine how you will account for your progress along the way.
3. Focus on a goal that you can reach.
4. Find your “Why” behind your goal.
5. Set a timeframe to achieve it.

Building habits when you begin something new is helpful. It can help you maintain your goals long term. This is also true when you adjust how you manage your finances. Establishing healthy financial habits at the start has long term benefits. Ultimately, it’s another avenue to reduce stress and anxiety in managing your finances. One way to build good habits and reduce some of the guesswork and time with financial management is to automate it.

💡 Pro-Tip:

1. Set up a direct deposit on your paycheck.
2. Begin auto savings transfers.
3. Use autopay on your monthly bills. (Some companies give a discount on your bill if your do).
4. Set up bill notifications on your phone.
5. Set up debit and credit card purchase alerts.

Whether you are starting or refreshing your financial clutter, remember professionals are there to help you get on the right track. Reaching out to a credit counseling agency, like Apprisen, is another way to ease financial stress as they can help review your finances for free.

💡 Pro-Tip:

1. Look for credit counselor agencies online. nfcc.org or www.bbb.org
2. Review their services for the best fit for your goals – Examples include a free financial review.
3. Experts offer personalized plans and guidance to help you refresh your finances.

In conclusion, financial spring cleaning can bring bring stress relief. Taking the time to declutter your finances using the steps above will help reduce stress so you can enjoy the season ahead.