Spring Cleaning

It’s spring! After this brutal winter, we were all starting to think that spring would never come. But it’s finally here, and you know what spring means? Spring cleaning!

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(Source: wallorg.com)

Here are our top three tips for some financial spring cleaning:

1. De-clutter your home. Have you cleaned out your dorm room or apartment lately? If and when you do, get rid of things you don’t need anymore. If you donate them to charity, that’s a tax write-off. If you sell larger items at a garage sale or on Craigslist, that’s extra cash in your pocket.

2. Get rid of credit cards. How many credit cards did you open up last year? If you’re one of those people who will open up a Target, Macy’s, LOFT, or Express card at the mere mention of future discounts, it might be time to cancel some of those cards. If you pare down the total number of cards you have, you’re more likely to stay on top of your finances and not borrow excessively or be tempted to spend at all those stores.

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(Source: scandigital.com)

3. Clean out your wallet/purse. This is a big one. How messy can your wallet or purse get? It’s totally possible that you will find coupons, gift cards, and cash you didn’t even know you had just because you let your wallet get a little cluttered. It’s also a good idea to pull out old receipts to check them and make sure you’re on track with everything. Simplify your clutter and see what fun stuff you may find.

Do you have great tips for spring cleaning your financials? Let us know. Comment or tweet us @URFinAid. For more financial literacy tips, stop by Save Your Dollars, a tailored budgeting workshop co-hosted by the Financial Aid Office and Sigma Delta Tau, April 23 at 7 pm in Dewey 1-101. Hope to see you there!

About the author

Patrick Hennessey

I am an alumnus of the University of Rochester, and I've worked in the Financial Aid Office as both a student worker and now a financial aid counselor. While at the University I was an English major, history minor, and also was involved with Greek Life. When I'm not slaving away over a hot keyboard, I'm usually at home writing, reading historical fiction and non-fiction, and playing my guitar.

2 Comments

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  • Great pieces of advice. I would caution, however, with the credit cards that you should be careful with which ones you cancel. Cancelling your ones with the largest limits or the ones that have the most established history can hurt your credit score. Other than that, I think it is a great idea to get rid of credit cards and keep them to a small number (e.g. 2-4).

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