Financial spring cleaning is necessary because it helps you get rid of all the financial clutter built up over the past year. It gives you a chance to start fresh and ensure that your financial accounts are in order.
Maybe you can cut back on some of your spending or increase your income by picking up extra work hours. It’s essential to be realistic about what you can and cannot change – don’t try to overhaul your budget overnight.
If you haven’t already filed your taxes for the year, now is the time to do it. You may also need to start thinking about estimated tax payments if you are self-employed or have other income that is not subject to withholding.