Five tips to tidy up your finances this Spring

Spring has now sprung, so you might be thinking about undertaking the annual clean up. As you de-clutter your house and cull your old clothes, don't forget to dust off your finances too.

1. Iron out your budget

When did you last assess your finances? Expenses and income change over time, so your budget should too.

Track your spending to see what's incoming and outgoing. This will help you to identify where you can curb unnecessary costs and get you on a better track in no time.

2. Throw out your debts

Over time, paperwork piles up and it's easy to lose track of where your debts stand.

If you have multiple loan repayments to juggle, consider tackling your debts with a consolidation loan. One repayment is easier to manage and can help you get ahead sooner.

3. Keep covered

You're on track to get rid of your debts, but what about the things worth holding onto?

If you've acquired any valuable belongings recently, make sure your insurance policy is up to date.

4. Shop around

Once you've handled the above, you should have a better grip on your financial position. Like outgrowing your wardrobe, you might have also outgrown your current loan.

There are plenty of loan options on the market, so make sure you have a product that meets your needs to become debt-free sooner.

5. Call in the experts

As you set new financial goals, be sure to have a professional on your side. For a broker who will be with you every step of the way, speak to a Mike Pero Adviser today.