Spring Clean Your Budget

1. Set a budget meeting with your spouse.

You can’t move forward—and you can’t hit those money goals—if you and your spouse are going in different directions. You might have a really good money conversation and think things are just peachy. But then later down the road, you see you’re both spending with opposing intentions.

It’s time to check in. Budgeting is a journey you’re on together, so be in communication regularly so you can go the distance with your money.

Set up a good old-fashioned budget meeting this month. Look at last month’s budget. Where could you have done better? What can you change for the upcoming month to help you reach your goals? Then book a time to meet every month to review the budget and your dreams.

2. Get your legacy plans (aka estate planning) in order.

First, if you don’t have a will, put it on your calendar to get one this month. It will take only about 20 minutes. If your will is outdated, update it. Then, if you don’t have 10–12x your annual income in term life insurance, it’s time to get on it. Work with your insurance provider to make sure you get the best deal possible on the exact coverage you need. That way you’ll take care of the people who matter the most when the thing you don’t want to talk about happens.

3. Look at your other insurance policies.

So often we set up renter’s, homeowner’s, or car insurance once and just roll with it forever. But what if you don’t have the best policy possible? You could be tossing some serious cash out the figurative window. Insurance isn’t a slow cooker you set and forget. You saw how well that worked out for Jack in This Is Us. Be proactive. Don’t use slow cookers with fabric cords—and check in on your insurance.

4. Update your W-4.

Maybe you got a hefty tax return this year. It feels good at the time, but it means Uncle Sam’s been in charge of all that money all that time—instead of you. Yuck. Think of all the stuff you could have been doing with that cash while he was doing who knows what with it.

That’s why we think you should update your W-4. Instead of overpaying Uncle Sam this year, pay yourself.

5. Review your New Year’s goals.

You wrote them out. You made them measurable. You started seeing how they work in the rhythm of your everyday life. And then you realized some of those fabulous financial goals need tweaking.

It’s okay. It doesn’t mean you’re a failure when you adjust your goals. It means you’re in tune with reality.

6. Have a moment of truth with your spending habits.

Have a conversation with yourself about your spending habits. It’s time for a moment of truth with the person in the mirror.

Maybe you need what’s called the “compliment sandwich” which would go like this: “Hey, self. I see you’ve got that grocery budget under control. I’m so proud of you. But look here. You went $100 over budget in the entertainment line three months in a row. It’s time to cancel your membership to the Mister Freeze Memorabilia Museum and your beginner fly-fishing lessons. But you’re killing it by turning off lights when you leave a room. The electricity bill thanks you.”

Whatever it takes, it’s time to get real. With yourself.

7. Automate your savings with direct deposits.

If you’re trying to make saving money a priority, it can get lost in the shuffle of rent, restaurant tabs underwater hockey club fees. When you set a portion of your paycheck to direct deposit into your savings account, you’ll be working on those savings goals without a second thought.

8. Clean up and sell off your stuff.

This is the actual spring-cleaning portion of our tips. Go through closets, get in the attic, and clear out the garage. You could be sitting on stuff you don’t use that other people would gladly pay money to use!

9. Start planning for summer vacation.

Spring has sprung. Boing!

And it’s got you thinking about all that sunshine to come. Warm days on the beach with the sand in your toes, a book in your hands, and your worries miles and miles away. But where’s the money for this dreamy summer vacay coming from? Not Mastercard—they’re not going to master you. Not Chase—your new budget-boss attitude has them on the run. Not Visa—they’re . . . okay we ran out of puns here. But you get the idea.

You can pay cash for your getaway. But you should start saving now.

Why Spring-Clean Your Budget?

These spruce-ups are just what your budget needs as it blossoms out of the cold months of the year into the warmth of new beginnings. If you’ve been going strong on those money goals—it’s a great time to see what’s been working and keep headed in that direction. If you’ve been struggling—it’s a great time to figure out what’s been tripping you up so you can set a new course toward WinningTown, USA.

You’ve got a great team in your corner. ACU gives you advice and directs you to the best policies for now and the future. 

You’ve got this! Out with the old, and in with the you!