Integral Wealth Management

Independent Financial Planning in Turlock, CA

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How To Spring Clean For A Better Financial Life

Clutter is a common annoyance, especially in a busy household. But did you know it sneaks up in your financial life as well? And that it can also cost you money?

“Financial clutter” is distracting and it makes it hard to see the progress you’re making toward your financial goals. It can even hide problems until they become big and urgent. The solution is simple: Get rid of the clutter.

While it may not sound glamorous, it doesn’t have to be tedious or painstaking. But it does need to be done from time to time because clutter won’t go away by itself. And the results are well worth the effort.


Getting started is easier than you might think. If you focus on a few key financial areas as part of your spring cleaning, a little bit of tidying up can go a long way toward eliminating clutter. It can also help you refocus and put you in a better frame of mind when it’s time to make important financial choices.

Keep reading below to learn where to begin…

7 Simple & Powerful Ways to Declutter Your Financial Life

1.) Organize Your Documents & Accounts

Have piles of statements or documents piling up? Go through them and decide: Can I set up paperless statements or billing to reduce the clutter? Do I actually need to keep this? If so, back it up digitally and file it away. Shred everything else.

Next, review your accounts. Do you have bank, credit, or other accounts you haven’t used in months? If you’re paying fees for those, consider closing them (if doing so wouldn’t ding your credit score).

2.) Review Your Beneficiaries

We recommend reviewing your beneficiaries and estate documents regularly so that you can make sure the people, trusts, and institutions you have listed still represent your wishes.

If you don’t already, we strongly recommend naming a second or contingent beneficiary or representative in case the primary is unable to step in or inherit assets.

3.) Update Your Subscriptions

Digital clutter can be just as stressful as physical clutter. And our inboxes are usually ground zero for the digital clutter we have to face daily.2

If your inbox is overflowing, identify any listserv, subscription, or promotional messages you haven’t opened in a couple of months and unsubscribe from them. (Tip: search for “unsubscribe” to identify promotional messages.) As you do this, organize and/or archive any emails you need to save.

Also, take a look at your other subscriptions. Review the ones you have for software, magazines, memberships, or other items. Cancel the ones you don’t need or use.

4.) Go Over Your Insurance Policies

When’s the last time you reviewed your policies?

Life, health, and disability policies often get regular attention, but your auto, homeowner’s, and other policies need review as well. For example, are you driving as much this year? If not, you might qualify for a better rate on your auto policy. Make some big purchases or upgrades? You’ll want to update your personal property inventory and maybe review your homeowner’s coverage.

5.) Reconsider Your Tax Withholdings

Don’t let the wrong withholding give Uncle Sam a free loan or set you up for a surprise tax bill! Take a fresh look at your withholdings, and think about changes in your family, income, and/or assets over the past year.

Also, consider any changes you may be planning in these areas this year. All of these can be good reasons to update your tax withholdings.

6.) Automate Your Savings

Haven’t reviewed your savings in a while? Now’s the time. When you have subscriptions that are auto-drafted, it’s easy to forget about them and spend more than you intended. On the flip side, automatic deposits into your savings make it easy to save more with less effort.

Explore the options available from your financial institution. Transfers can be set aside from direct deposits or as recurring events at any frequency. You can even set up round-up deposits, so you are contributing to your savings with every purchase you make.

As you consider the options, think about what you need to put away for future plans, upcoming tax bills, and the unexpected rainy days.

7.) Check in on Your Financial Goals

Financial spring cleaning isn’t just about removing clutter and setting up systems. It’s also about restoring clarity and reconnecting with the purpose of your financial life.

Take some time to revisit and reflect your financial goals and how they connect to your values. Are you still working toward the same dreams? Do you need to update them or add new ones?

Be sure to celebrate your progress!

We have to maintain our financial lives to sustain and enrich them.

Financial Lesson:

When You Get Rid of the Clutter, You Make Space to Enrich Your Financial Life

Few of us have our financial lives in perfect order. Even if we get close or we do achieve it, perfect order is never a finish line. It’s a moving target — because life isn’t static.

That’s why we have to maintain our financial lives to sustain and enrich them. If we don’t, financial clutter can build up as quickly as the papers on our desk. It can cost us money, expose us to risk, and stall the progress we want to make toward our financial goals. Some simple spring cleaning can put an end to that.

We hope these financial spring cleaning tips inspire you to tidy key parts of your financial life. At Integral Wealth Management, we keep these 7 topics in mind when evaluating your financial picture, because we have seen the positive impact an organized financial life can make for our clients. Our hope is that these key areas give you a framework to check in, reorganize, and make important adjustments to support your evolving needs and long-term objectives. Sorting through financial clutter provides clarity and real control over the trajectory of your financial future, leading to our highest goal for you — peace of mind.
No matter where you focus your next financial spring cleaning or what you uncover, we are here to help keep your financial life in order.

Sources & Disclosures

1 – https://phys.org/news/2017-06-customers-passwords-business.html
2 – https://www.bbc.com/future/article/20190104-are-you-a-digital-hoarder

Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.
This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.
Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. These are the views of Finance Insights and not necessarily those of the named representative or firm, and should not be construed as investment advice.