Spring is prime-time for absolutely assassinating the grime in your kitchen, grout in your bathroom or garbage in your closet.

But the same enthusiasm you dedicate to your annual house spring clean, should also be dedicated to a spring clean of your finances.

Spring cleaning your finances is really just about taking out the metaphorical trash (aka canning your unwanted subscriptions), re-assessing your budget (are you buying two coffees a day?) and checking in on your goals (#Eurotrip2023). 

Let’s unpack this.

Break up with Netflix

We’re living in the age of the subscription service, and it’s tough to keep track of what you’ve got on the go. 

A great way to get your financial ducks in a row is to print out your last few months of bank statements (or use an app that can do it for you). Grab a highlighter and highlight any subscriptions you can see. Then, ask yourself a couple hard-hitting questions, like:

• Am I really using that $65-per-week pilates membership? Or would a casual pass suit you better?
• Can you live without Netflix and Spotify? If not, could you split your subscription with a mate? 
• Are you reading the news publication you’re paying $50+ for a month?
  

If the platforms or services you subscribe to are really too tough to let go, then don’t! Investing in your lifestyle and happiness is important too. However, if they’re stopping you from reaching your financial goals and don't spark joy (thanks Marie Kondo), then these become easy changes to make.

Curb your coffee habit

Spring is a great time to reassess your spending habits.

And we don’t just mean buying coffees. We mean all the little purchases that add up over time if you’re not watching your budget carefully. 

Can you swap a morning café coffee for a brought-from-home coffee? Can you meal-prep your lunches on a Sunday and have food for the week? Do you really need a new pair of Nike kicks...again!?

This spring, try and nail the 50-30-20 budgeting rule.

Check in on your financial goals

You don’t need to have a five-year plan, but it’s a good idea to check in with yourself about how you want to put your money to use. Is it an overseas holiday? A house deposit? Are you saving for new wheels?

Once you know exactly what it is you’re saving for, it can really motivate you to hit that financial goal. 

If you already know your savings goal, then ask yourself whether you’re still on track to hit it. Or, do you need to make a few lifestyle adjustments to get there?

Remember, you should always be contributing to an emergency fund at the same time as your savings, so allow for an extra $20 to $25 per week when you’re constructing your budget.