Spring Clean Your Savings

It’s that time of year again: Spring Cleaning. Time to tidy those closets, polish that furniture and clear out that clutter in your garage! Why stop there? Spring is also the perfect time of year to review your saving habits and spruce up your saving goals.

Here’s how to spring-clean your savings in five easy steps.

1. Assess your saving habits 

First, take stock of how much you’re putting into savings each month. If you believe you should be setting aside more of your monthly income toward savings, look for ways to cut back on your discretionary spending. 

2. Consolidate and simplify accounts

Next, take a look at the places you keep your money. If you have multiple savings accounts, retirement accounts or investment accounts, consider consolidating them to streamline your finances and reduce the hassle it takes to manage them all. Be sure to compare fees, rates and other features before making changes.

3. Reevaluate your financial goals

What are your long- and short-term saving objectives? Do you still want to go after them? If not, consider setting new ones. Think of your future wants and needs, as well as small pleasures you’d love to enjoy in a few years, or even in a few months. 

4. Automate your savings

Now that you have your saving goals clearly defined, it’s time to make it happen by itself. Set up automatic monthly transfers from your checking to your savings account(s) so you never forget to feed your savings. 

5. Use a savings app

Bring your savings into the 21st century with the power of a savings app. At Timberland Bank, we’ve partnered with Plinqit to help you set and achieve your financial goals! Plinqit is an easy-to-use savings app that lets you set goals, put money away, and even earn rewards. Taking your savings to the digital level will make it easier to stick to your goals. 

Spring is in the air – it’s time to make your savings sparkle!