Thank God that winter is finally over.  That Arctic vortex that we experienced this year certainly kept us well preserved this past winter.

Sure, we may get a few more snowflakes before winter says its last goodbye this year, but pretty soon, the buds will be bursting and spring will be in full bloom. 

I like to do my spring cleaning each year to try to get rid of all the unnecessary clutter and make room and plan for the year ahead.  Do you like to do that, too?

Now that spring is here, you may be thinking about doing some spring cleaning, too.  But have you thought about the spring cleaning you need to do for your finances?

Maybe it is time to start thinking about what you want to accomplish financially in the years to come.  What is most important to you?

Have you set up a budget?  That may help prevent you from buying on impulse. 

Make sure that your necessary expenses are covered first and then budget for discretionary expenses.  Set yourself a limit.

Part of your budget should include savings of 10 to 15% of your income, which should be invested in your 401(k), 403(b), or IRA account.  This will give you either tax deferral or tax free income if you have a Roth account. 

Make sure that you have taken full advantage of any employer matches that are offered on your retirement savings accounts.

You should also look at setting up an emergency fund to cover your unexpected expenses that were not in the budget.  This could include unexpected home repairs, and paying for your necessary expenses at times when you might be out of work, suffer an unexpected illness, etc.

Think about banking your pay increases.  You can save all or part of your increase, and increase your savings by adding bonuses, tax refunds, etc.

If you have debt to pay, pay off what you owe on the credit card with the highest interest rate first.  Then work your way down to the smaller ones.  You could also consider consolidating the debt into a home equity loan payment.

If you get in the habit of both saving and paying off any debt you have, this can prevent the need to borrow money for your every purchase.  Put the money away first, then reward yourself what you budgeted without having to incur any debt.

Plan for your taxes, plan for your retirement, and plan for your other financial goals.  That way you will avoid surprises and be ready to meet your goals in a much more effective way.