Spring brings new beginnings, so it’s the perfect time to evaluate your finances and make improvements that could really pay off.
Typically, spring cleaning refers to the household, but why does it have to stop there? Allow the motivation to trickle into your finances and see where you could make some small tweaks to help reach your long-term goals.
Here are seven tried-and-tested methods that will help spruce up your habits this spring, and beyond.
Try a ‘cash-only’ week
If the majority of your transactions are digital, try switching to cash so you can quite literally see where it’s going. Before long, you’ll notice a change in your behaviour around spending, especially when your pockets start to empty.
Even if it encourages you to rethink just one small purchase, working with cash is a great way to enforce sticking to a budget. That way, you’ll be faced with hard evidence rather than a screen you can easily avoid.
Remove temptation from your digital life
The world of online advertising never sleeps. Whether it’s sponsored ads on your social media feed or email newsletters you don’t remember subscribing to, you’re constantly being exposed to temptation.
Take some time to mute, unfollow and unsubscribe from your favourite retail outlets’ marketing materials. You’ll be less susceptible to impulse buying, and more likely to think harder about what you really need.
Make a debt repayment plan
Take stock of all your outstanding debts and work out a plan to clear them. It doesn’t have to require immediate action, but as long as you’re working towards repayment, you’ll feel more confident about it.
One option is to prioritise clearing high-interest debts first, so you don’t end up paying back any more than you need to. Or, you could start by paying off the smallest debt first to gain some quick momentum. Whatever you choose, with a concrete plan you can stick to, other spending will be controlled and guilt-free in the meantime.
Declutter your belongings
If you’re giving the house a spring clean anyway, why not see if any of your old belongings could pocket you a decent earning? Check through junk drawers and see if you can sell old mobile phones or other electronics.
Vintage clothes are all the rage at the moment, along with collectors’ items. Have a rummage around to see what you can get rid of, and do some online research to check their worth before you list them for sale.
Ditch non-sustainable habits
Why not save some money and look after the planet at the same time? Try taking a new approach to your shopping habits by buying second-hand attire, for a fraction of the cost of new.
The same applies to furniture - try upcycling an old item to turn it into something you can resell. There are loads of tutorials online that’ll turn you into a DIY expert in no time. See if you can drive less, where possible, and be a bit smarter with things like water and food waste.
See if tech can help
Take advantage of online resources like free budgeting apps and educational content to make your money management easier. Often, seeing your monthly budget in a visual chart form can bring things into perspective and help you find new ways to improve it.
You’ll be able to ditch the pen and paper, meaning you can manage your money more efficiently and on-the-go, carving out spare time to do the things you really love.
Become more financially literate
All of the above suggestions will be a lot easier to implement if you know exactly what you’re doing, and why. A high level of financial literacy leads to making smarter decisions about your money by having the confidence to spot key areas for improvement and acting on it.
Online tutorials are a great place to start - just make sure they’re accurate, unbiased and actually useful. If something sounds too good to be true, it probably is. Good luck with your spring clean!
The information provided is financial guidance and should not be considered as financial advice.
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