Spring Cleaning Your Finances: Refresh Your Budget for 2025
What Is the Purpose of Spring Cleaning?
We have experienced a winter like no other—Sneaux days in Southeast Louisiana. Actual snowmen were built amid all that snow. While it was a unique and fun minute, our typical warmer weather is here to stay.
As Spring is upon us, many of us feel the urge to spring clean – often deep cleaning and decluttering our homes. But why stop there? Spring is also an excellent time to review your finances and declutter your budget. Let’s clean out unnecessary expenses and get your finances so fresh and so clean. 😎
What Is Budgeting Important?
According to Consumer.gov, a budget is a written plan that helps you decide how you will spend your money each month. It shows how much you make and how much you spend, providing a clear picture of where your money goes. Like most of us, you may make a budget but find yourself wondering what happened to your money at the end of the month. If so, then financial spring cleaning could be the reset you need to get back on track and regain control of your finances.
How Do Spring Cleaning and Budgeting Connect?
You can jump-start your financial spring cleaning by participating in a financial challenge such as No-Spend January or Frugal February. While these challenges can be done any time of the year, they have a nice ring to them in their respective months. No-Spend January is a challenge to buy only essentials for the entire month, and Frugal February is a less extreme challenge where you focus on cutting back in a specific area.
Examples include:
- 🍕Dining in instead of eating out: Prepare all your meals at home and bring your lunch to work.
- 🛒Freezing spending in one category: Avoid non-essential purchases such as clothing or entertainment.
- 📨Reducing your monthly bills: Contact utility, insurance, and phone providers to explore ways to lower your bills.
These challenges serve as an effective way to:
- Review your expenses
- Cut unnecessary costs
- Set new financial goals for the year
Check back with us during April, Financial Literacy Month, when we will explore key habits for financial success. And don’t forget to try out the financial literacy classes at our Prosperity Centers.