Simply put

Spring clean your finances

By Brenda Spiering, Editor, BrighterLife.ca

Comments (3)

Image of a woman getting ready to spring clean her finances.After a long, cold winter it’s great to know that spring will soon be here — the time to stash away your winter woollies, rake up the yard and clean out the garage. What better time to also spring clean your finances?

When was the last time you looked at all those financial documents you stored away in a drawer? Do they still meet your needs? If something happened to you, would your loved ones even know where to find them?

Here are eight handy tips and tools to help you sort through the clutter and organize your financial affairs:

 Image of laundry basket. Gather everything you need to get started
Start by digging out all of your essential financial documents. Unsure what they are? Check out:
Twelve key documents you need to gather
 Image of an iron. Iron the wrinkles out of your debt
Paying interest charges on several different credit cards and loans? Here are some smart ways to consolidate your debt and save:
Four ways to lessen your debt load
   
 Image of a cleaning bucket. Check your credit score is squeaky clean
Don’t get caught off-guard with a bad credit score. Check your credit report to ensure it’s accurate and up-to-date:
Understand your credit score
 Image of a feather duster. Dust off your financial plan
Review your financial documents. Make sure they still meet your needs and include the following:
Five financial products you should own
   
 Image of a clean window. Get a clear window on taxes
Understanding how your savings are taxed will help you avoid a nasty surprise at tax time. For some guidance, read:
Seven taxes on investments you should know about
 Image of rubber gloves. Prepare to handle the unexpected
Make sure your financial plan has a built in cushion to help protect you in the event of an emergency:
How to handle to unexpected on a fixed income
     
 Image of clothing on a hanger. Get your estate in order
If you have a will, pull it out and ensure it’s up to date If you haven’t a will, now is the time to write one and consider the following:
Important considerations when writing a will
 Image of a leaf. Grow your retirement savings
Don’t wait until RRSP season. Contribute to your registered retirement savings plan now and benefit from additional growth. Check you’re saving enough:
Retirement income calculator
Financial planning Check out more financial planning tips and tools.

Looking for financial planning advice?
Talking with an advisor can help ensure you’re on track to meet your financial and retirement planning goals. Don’t have an advisor? Visit Sun Life Financial Advisor Match to help you find one in your area.

Stay connected

Get more FREE tips and tools on money, health and family

Sign up for the monthly Brighter Life newsletter.

Enter your email address:

Learn more

Will your choices help you reach your financial goals?

Try our Financial habits quiz.

Take action

Are you on track to meet your financial and retirement planning goals?

It's never too early or too late to start!

For a FREE review of your financial plan: Talk to an Advisor.

Mar 24: Best from the blogosphere | Save with SPP on

[…] Spiering the editor of brighterlife.ca has some great ideas for spring cleaning your finances. Begin by digging out all of your essential financial documents. If you are unsure what they are, […]

Add a new comment:

Note: Please be sure to read our commenting policy and terms and conditions for this site. We reserve the right to delete any comments that we view to be in violation of our policy. The name you provide will appear next to your comment. Thank you!

Your email address will not be published. Required fields are marked *

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Advisor Match
Free newsletter subscription

Connect to your Brighter Life