We finally made it to spring – can you believe it? Even if we may not have warmer weather or buds on the trees for another month, at least there's a light at the end of the tunnel. 

Of course, after being shut into our homes all winter, there's probably something on your to-do list: spring cleaning. Scrubbing the floorboards, clearing away the cobwebs, opening the windows for some fresh air...it feels good to freshen up your living space. 

You know what else could use freshening up after a long, hard winter? Your finances. Between unexpected home repairs (furnace trouble, frozen pipes, a leaking roof from an ice dam – you name it), high electricity or fuel bills, and the general survival mode us New Englanders get into in the winter, your financial situation may need some cobwebs removed. 

Tip One: Polish Up Your Budget 

Revisiting your budget is one of the first suggestions you'll find on any financial guide, for two good reasons: first, it's the cornerstone of your entire economic life; second, because it is constantly adapting to the ever-changing lives we live. Got a new job? Moved to a different home? Adopted another dog? Big or small, changes to our lives means changes to our budget. 

 So why not take a look at yours? (And if you don't have one, now would be a great time to change that! This guide can help get you started.) Are there any categories that stand out to you as needing updating? For example, a lot of people in the Dover area have seen their electricity bill skyrocket. Is yours still within your allotted amount? And how about groceries? The cost of eggs alone could have taken you over budget. 

If you're not sure how your budget compares to real-life spending, it may be beneficial to keep track for a month or two. I keep a note right on my phone, and each time I buy something, I add it to my note. At the end of the month, I total up every category and compare it to my budget. It doesn't take much effort, and it helps keep my spending in check. 

Tip Two: Organize Your Financial Records

As we're getting to the end of tax season, you've likely had more than your fair share of paperwork to sort through. A shoebox of receipts, a year's worth of invoices intermingled with your other computer files, a leaning bank statement tower of doom – if you're happy with that system, great. If not, though, maybe it's time to find a new one. 

The first question to ask yourself: how do you like your paperwork? Are you a hardcopy, statement-in-the-mail kind of person, or do you opt for digital options? 

Physical records. "A place for everything and everything in its place," as Benjamin Franklin once said, is the key to your organizational success. Pick one spot, if possible, to keep all your financial documents – depending on what you have, that may be a binder, file box, or cabinet. Then, break it down further by giving each category a home of its own. And don't forget to label! 

Digital records. With so much technology out there today, the sky is the limit for organizing your digital files. You can get high-tech and use an app designed for this very purpose, or go simpler by keeping them on your device or an online storage service. Either way, the principle is the same: keep your records together in one place, but separated by categories. 

Need more help? This article provides further guidance.

Tip Three: Check Your Credit Report

School report cards – whether you loved or hated them as a kid, you mostly likely recognize the benefit of them now. After all, how could you know what to improve on if no one told you there was a problem in the first place? It's the same with your credit report, aka a history of your financials. You can access yours for free once a year on annualcreditreport.com.

What exactly shows up on your credit report? Bill payment history, loans, current debt, lawsuit records, and more, all provided by the three credit reporting agencies: Experian, Equifax, and TransUnion. It does not include your credit score, but many banks and credit companies provide free soft checks that won't show up on your credit history.

Since this credit report is used by lenders, employers, and landlords, it's safe to say it's important. What if your "report card" doesn't look so good? First, make sure there aren't any errors on the report, such as a missed payment you know you made. If there are, you can dispute them. 

If not, though, there's still a lot you can do. Figure out your weak links, and focus on those. For example, payment history makes up 35% of your credit score. By putting in extra effort to pay your bills on time, your score will improve. 

The next time your annual "report card" comes around, you can feel good knowing you worked hard to earn those grades.

Tip Four: Sort Through Your Subscriptions 

Wondering why your money isn't going as far as you expected? It may be due to pesky subscriptions, also known as "gray charges". It starts out innocent. "Sign up today and get the first month free!" Great – enough time to make use of the member discounts and cancel your subscription before the month is up. But life gets busy, and before you know it, six months have gone by and you've been paying for a membership you forgot you had. 

Maybe you're more organized than that; you set a reminder on your calendar to cancel the subscription. Then you're charged anyway. Why? Because the subscription cancellation is only compatible with a specific browser (yes, seriously).  

In this modern world where almost everything has a membership fee, it can feel impossible to keep track of it all. The good news is, it isn't impossible! This is when you apply those organizational principles again.

Keep a list of all your subscriptions, from streaming services to gym memberships to shopping insider clubs. And rather than just listing what you're subscribed to, add how much it costs, and how frequently you're charged. Come back to this list once in awhile (even just during your annual financial spring cleaning!) to make sure you're not still paying for something you don't use anymore.

What if you have absolutely no idea what you're subscribed to? You could carefully go through your credit card statements, or use an app designed to identify your subscriptions for you. Be forewarned, though, that many of these apps also have a subscription fee! Ironic, isn't it? 

Lastly, as a word to the wise: after you've cancelled a subscription, follow up to confirm that it's truly cancelled. 

Tip Five: Dust Off Your Insurance Coverage

Life is constantly changing on us, so just like our budget needs tweaking from time to time, so may our insurance coverage. On the other hand, sometimes it's not us that have changed, but instead, our insurance provider. Unexpected rate hikes, anyone?

The National Association of Insurance Commissioners (NAIC) recommends reviewing your insurance at least annually. A lot can happen in a year, and updating your insurance coverage might not be the first thing on your to-do list when you're going through a major life change. It can't hurt to double-check that your needs are still met.

What if the insurance provider is the problem, such as if their rates have become exorbitant, or you've had a bad experience with how they handled a claim? It may be a good time to start shopping around for other options.

You could start by asking trustworthy friends and family what company they recommend, or work with an independent insurance agent, who can compare rates from multiple companies. You may even be able to bundle your insurance types, saving even more money. 

Of course, the exact process of changing insurance depends on what kind you're looking for; health insurance, for example, is an entirely different ballgame than auto insurance. No matter what insurance you're looking for, though, doing research and working with a professional are great places to start.

Tip Six: Open Up the "Junk Drawer" of Old Accounts

No one wants one, but virtually everyone ends up with one. A junk drawer is a catch-all for the stuff that doesn't have a home, and that probably won't ever get used again – but just in case, we keep it anyway. 

Going through your junk drawer can be like going on a treasure hunt; you never know what you'll find. Sometimes, it's your kid's retainer from first grade, but once in awhile, it's an extra twenty bucks someone just threw in there. Ka-ching!

It's similar to doing a deep dive into your past accounts. "What old accounts?" You may ask. "Every penny of my money is accounted for." You may think so, but are you positive? 

Fun fact: According to a platform called Capitalize, there are 29.2 million forgotten 401(k) accounts, totaling $1.65 trillion. That's 25% of all 401(k) plan assets! Could of the accounts be yours?

How to check: 

• Reach out to old employers. Depending on how big the company was, you may need to speak to the human resources or accounting department
• Visit the National Registry of Unclaimed Retirement Benefits. This is a database that compiles Department of Labor and employer data to report any lost retirement accounts
• Use FreeErisa, another database to help find information on lost accounts. You'll have to register to use it, but it's free to use

If there's a chance your hard-earned money is out there waiting for you, you might as well check!

Tip Seven: Shop Around for a Better APY

APY, or Annual Percentage Yield, is the amount you earn on your money over a year. This applies to checking, savings, and money market accounts, as well as CDs. If you have a traditional checking or savings account, you're probably earning something around .05% APY. Did you know, though, that there are virtually risk-free options that can get you more bang for your buck?

For example, many banks and credit unions offer High Yield Savings Accounts, which offer around a 5% APY. You also may see Kasasa accounts, which vary in the benefits they offer, but often come with a higher-than-average APY for both checking and savings accounts. If you're looking for flexible, easily accessible accounts, these may be a good choice for you. 

Then there's a money market account, which is similar to a High Yield Savings Account. There are a few differences, though; a money market account allows you to link a debit card right to it, unlike a savings account. On the other hand, HYSAs typically don't have a minimum balance, while money market accounts do. 

Finally, there are Certificates of Deposit, or CDs. These are accounts where you commit to putting away an amount of money for a set period of time, and it gains interest with a high APY. These are the least flexible option, since there are penalties for withdrawing the funds early. To set aside some funds, though, these are a great option. 

After looking at these options for a higher APY, do you think you'll do some shopping around? 

Tip Eight: Refresh Your Beneficiaries

When was the last time you set the beneficiaries of your financial accounts – if ever?

If you have investments accounts, such as an IRA or TOD account, you likely designated beneficiaries at the outset. Have you kept them updated over time, though? Maybe you've had children, or gotten married. Maybe one of your beneficiaries passed away, or your relationship with them changed. 

Although checking and savings accounts don't require beneficiaries, it may make things easier if anything were to happen to you.

It may be worth it to take a look through your financial records and doublecheck your listed beneficiaries – "hope for the best, prepare for the worst", as they say.

Tip Nine: Tweak Your Systems

We've talked a lot about actions to take in the moment, but now let's take a look at the bigger picture: your systems. What systems do you have in place to keep track of your finances, organize your records, and stick to your budget? 

If you've ever watched home organization shows, you know that simply organizing a space isn't enough. You need to implement a system, or a process that you can stick to, if you want to stay organized going forward. 

It's the same with our finances. What if you put all the hard work in to get your records in tidy files, have your budget completely mapped out, and feel good about your situation – only to go right back to the habits that got you disorganized in the first place? 

That's why having a system is so important. It doesn't have to be complicated; in fact, the simpler it is, the more likely you'll be to stick to it! 

Some examples of a reasonable system: 

1) When you receive paper records, instead of letting them pile up to take care of later, you file them right away. 

Why it works: It only takes a few minutes, and it saves you from getting overwhelmed by a mountain of paperwork later.

2) Every day after work, you take just a few minutes to document any business expenses you incurred. 

Why it works: The expenses are fresh on your mind, and you won't have to do detective work a month from now to figure out what you spent. 

3) As soon as you subscribe to a membership, you add it to your list and set a calendar reminder (or two!) if you plan to cancel it before a certain date.

Why it works: It gets rid of the guesswork and eliminates the risk of a faulty memory. 

Tip Ten: Enlist the Help of a Professional (Financial) Cleaner

The truth is, not everyone is a natural organizer, or a natural economist. That's why there are professionals out there to help. Although Eric probably isn't going to show up at your door with a vacuum and a mop, he can help you with your financial spring cleaning. Maybe you have retirement accounts from old jobs you'd like to rollover, or you need guidance with saving for your child's college expenses. Whatever the situation, as a CERTIFIED FINANCIAL PLANNER™, he'd be happy to lend a hand. 

As we look forward to warmer days ahead, hopefully you'll have some time to refresh both your physical and financial living spaces!