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Hello to the First Day of Spring! Learn 5 Ways to Clean Your Finances

by on March 20, 2012

Spring cleaning doesn’t just apply to the clutter in your house or car, it applies to all aspects of your life including one of the most important: your finances.  Today is the first official day of spring and the PowerWallet team is celebrating by offering you 5 easy ways to clean your finances!

1. Reorganize & Digitalize Your Finances. Get rid of clutter and get more organized by scanning all your important financial documents.  Once scanned, make sure to save them in a folder on a USB drive or external hard drive.  Make two or three back-ups in case of an emergency.  Simply email the documents to yourself and shred the physical documents or file them and store them away so they don’t overwhelm your home.

2. Review Your Debt Load. The start of a new season is a great time to re-evaluate your financial progress since the New Year started.  Sit down and evaluate how much of your debt you have paid off since the beginning of 2012 and find out why and how you can reduce your debt load.  If you are feeling overwhelmed with your debt, speak with a professional.  A credible BBB A+ rated credit counseling agency can help you lower your interest rates, pay off your debt faster and help you learn to manage your credit wisely for a low fee.

3. Sign up for a Personal Finance Management Tool to Help You Plan. Take true power over your finances and start planning and saving easier with PowerWallet.  PowerWallet is a new personal financial management tool that is free, secure and user-friendly.  Visit PowerWallet.com today to get invited to the Beta Launch!

4. Get Your FREE Annual Credit Report.  If you haven’t already done so, get your free annual credit report from annualcreditreport.com.  Be aware, annualcreditreport.com is the ONLY company that will give your one free credit report every 12 months from each of the nationwide consumer credit reporting companies – Equifax, Experian, and TransUnion.  Other websites and commercials may claim that you can use them to get a free credit report, but it usually requires you to sign up for a monthly service.  A rule of thumb to remember, if they ask for your credit/debit card information, they are NOT free. When you get your credit reports, review it carefully and pin point what debts you should pay and report any charges that you believe were charged without your knowledge.

5. Review & adjust long-term and short-term saving goals. Every 3 – 4 months, we advise consumers to re-examine their goals and budget as priorities may change over time.  Make a list of your top three financial priorities.  Once you know the goal, you can establish a priority for how to achieve that goal.  Without knowing your financial mission, over the long-term and short-term, you cannot fulfill it.  PowerWallet can also help you truly create and achieve your financial goals to save more, pay off debt and spend less.

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One Comment
  1. I keep a backup of important documents in a fireproof safe, and keep it up to date every 6 months.

    Good tip about checking your credit report. Some people don’t know the official website to go to, so they end up somewhere else and pay a fee for monthly monitoring or whatever the company is offering.

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