Spring time is upon us and many people are enjoying warmer weather. The change in the weather often prompts us to prepare for the new season. All new sets of chores and tasks emerge to get our house in order which might include cleaning out the garage, doing yard work, or even organizing and cleaning out closets inside the house.
1. Give Items Away
Perhaps it’s time to visit your closet and dresser drawers and really consider what you need. Many items may have been hanging in your closet or folded up in drawers and haven’t been warn in over a year. If that’s the case, consider making a trip to your local goodwill and donate the unused items. Don’t forget to get a receipt as those items are considered tax deductible. Tax Software such as TurboTax provides a way for you to determine the fair market value. Hint: Determine this upon making the donation versus waiting until you file your taxes. Several receipts with a lot of donations can be overwhelming at tax time.
2. Revisit Your Spending
If you’ve been carefully tracking spending in household money management software, now is the time to run some reports and see in what categories you’ve spent the most money. Are you shocked at how much you’ve spent on entertainment or dining out? It’s important to adjust spending in these cases and many times the adjustment comes from being more aware of your habits. Using Envelope budgeting software software to track expenses is ideal for learning about your spending habits.
3. Assess Your Debt
4. Organize Your Paperwork
5. Revisit Contract Agreements