Finance & Enjoyment Blog

Spring Cleaning for Your Personal and Practice Finances

Your Financial House: Spring Cleaning for Your Personal and Practice Finances

The phrase “Spring cleaning” isn’t necessarily just about sweeping floors and airing out rugs in your home. Take a few minutes over the next few weeks to review your finances to see if there are some financial cobwebs that need to be cleaned out.

Consider consolidating debt. If you have outstanding balances on credit cards or other revolving debt, it’s always a good idea to check with your bank or credit union to see if consolidating these accounts makes sense. If you use a credit card on a regular basis, consider getting a card that has a rewards program to earn travel or other discounts on your regular spending.

Evaluate your bank accounts. While you’re talking with your banker or credit union professional about consolidation, take a look at the fees you are being charged for your personal and business accounts. Bank accounts need periodic adjustment just like insurance coverage. Make sure you’re in the correct account for the average level of activity you generate each month. If you are in an account with a higher rate and you’re not using all the bells and whistles, a more basic (and less expensive) account may be the right choice.

Review your personal budget. If a review of your personal budget wasn’t one of your New Year’s resolutions, early spring is a perfect time to take a look at your personal finances. Things can get hectic once summer gets here, so take a look at your spending for the last few months and check for places you can cut back.

Check on your retirement plans. Have you reviewed your retirement plans recently? If it’s been a while since you’ve checked the performance of your accounts, take a look at your current balances and check in with your financial advisor to see if it’s time to consider rebalancing your account.

Visit your KKB CPA to review your current financial plan and make sure you’re on track for all the goals that make your life more enjoyable. Give us a call today at 303-815-1100.


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