When you think of decluttering, you’re probably not thinking much about your finances. Subscriptions, memberships, and even shopping start to go on autopilot, and before we know it, we’ve spent more than we ever intended to spend.
Here are five tried and true ways to declutter your finances and get back on track.
Step 1: Look for ways to consolidate or eliminate your debt
If you have multiple types of debt on your plate, you need to get organised.
Missing one payment could mean a blow to your credit score, and debt collectors won’t overlook it.
Late fees can get expensive and cause you to pay your debt longer than you signed up for.
Start making a plan to pay off your debt completely, and even start consolidating your debt so you can start becoming debt free.
his small step will give you so much breathing room in your budget and in your life too.
Step 2: Identify the extras
Extras in your budget are not necessarily things like Netflix or date nights.
If these things are important to you and your family, you should keep them.
If they are bettering your life and making you happy, they don’t need to be decluttered if you can afford to keep them.
The extras I’m talking about might be the impulse buys at the store, or eating out every week.
Trimming these expenses can give you the extra wiggle room for the things you want to spend your money on.
Step 3: Organize your bills
Create a bill tracking spreadsheet, and get in the habit of paying your bills as soon as you receive them.
If you can, make the notices digital and set up automatic payments instead.
This will not only reduce the paper clutter in your life but will keep your finances in check.
Your bills will become less stressful, and you’ll never wonder how much you have left to spend at the end of the month.
Step 4: Are your expenses worth the cost?
Does premade pizza keep you from eating out at night?
Does Netflix mean you can spend more nights at home as a family?
If you are getting premade pizzas to avoid having to make it from scratch, or Netflix to keep you from being bored, are they worth the cost?
If something you’re paying for isn’t adding value to your life, it may be time to think about letting it go.
Step 5: Be on the lookout for free options
Free entertainment, food, and even books are all things you can get without paying a penny!
They may not come around frequently, but it can still be a great way to free up money in your budget.
Concerts and festivals are always happening and can often be free, while books are free at the library.
Be on the lookout for free options of your hobbies and even daily activities to find ways to free up money in your budget.
You don’t need to cancel Netflix or get rid of your car to trim your finances.
These tried and true ways to declutter your finances will help you trim the fluff so you can keep all the things that matter most.