Spring-Clean Your Finances

A lot can pile up over a year, or just a season. Here are a few tips to help you tidy up, declutter, and organize your finances this spring.

• If you have multiple loans and credit cards, with different interest rates it might be time to consider debt consolidation.
• With a clearer picture of your budget, you can more carefully track how much you are saving for your goals.
• Going paperless can make it easier to track your finances digitally.

For many, spring means opening windows, sweeping the dust out and rotating wardrobes. While you’re freshening up your home, consider ways to also tidy up your finances. You may be surprised at what’s hiding in your accounts, inboxes, financial documents and tax returns. 

Consider these strategies to help you spring-clean your finances: 

Clean Up Your Accounts

Do you find it challenging to keep track of your various financial accounts? Many people have checking or savings accounts at one bank, a brokerage account with another and an individual retirement account with yet another. Having a number of accounts at different institutions can make your financial house feel disorganized.

Consider consolidating your accounts to gain a clearer understanding of your financial streams and overall wealth. Contact First State Bank for assistance with all your financial needs. Or, if you prefer to maintain accounts with different banks, take advantage of digital tools that let you see all of your accounts in one place. Getting that full picture can bring a fresh perspective about what you need to prioritize, as you manage day-to-day cash needs and pursue your longer-term goals.

Declutter Your Debt

Do you ever feel like your debt is in disarray? If you have multiple loans and credit cards, with different interest rates and payment dates, it might be time to consider debt consolidation. Paying off your various debts via a single loan with a competitive interest rate not only helps you save money, it also leaves you with one simple payment date each month. This, in turn, may help reduce financial stress. Contact First State Bank for assistance with all your financial needs.

Toss Out (Some) Paper

If you’re still getting paper statements from financial institutions, why not change your preferences to “paperless” notifications? This includes credit cards, loans, brokerage accounts—even bills. Going paperless reduces the amount of physical clutter in your home, and it’s also more ecofriendly. When you receive statements digitally, you can more easily track your finances because your statements are all in one place.

Sign up for E-Statements with First State Bank and we will pay you $10/per eligible account you enroll*  Click Here to learn more

Organize Your Income and Expenses

When was the last time you took a long look at your monthly finances? Just as going through your whole closet can help you decide what to toss or keep, taking inventory of your income and expenses can help you cut wasteful spending and make smarter financial decisions.

With a clearer picture of your budget, you can more carefully track how much you are saving for near-term goals, such as buying a home, as well as long-term goals, such as retiring by a certain age.   

Contact a representative at any of our First State Bank Locations for assistance with all your financial needs.