Sign In
Get Started
Get the App
Modern Family Finances

Spring Clean Your Finances: 5 To-Dos

By Allison Kade Apr 2, 2020

As the temperature finally warms up and spring starts getting sprung, a lot of us are focusing on cleaning out our homes and streamlining our lives.

That’s why our spring check-in has five to-dos to help you keep your finances tidy and be the master of your family life.

1. Spring Clean Your Finances

If it’s been a while since you last checked in on your spending and saving, now’s a good time. Look at your monthly totals for the past three months—have you been spending more than you’d normally expect? Are you on budget?

Go over three months of credit card transactions to see if your spending has taken on any unexpected patterns or if there are areas where you might want to cut back. If you have multiple credit cards (especially if you're working on paying off multiple balances), you might consider consolidating them through an app like Tally.

2. Update Your Beneficiaries

Life insurance can help protect your family if something were to happen to you. If you were to pass away while covered, the life insurance company would pay a “death benefit” to the person you designate, known as your beneficiary.

Spring cleaning is a good time to update your life insurance beneficiaries. If you’ve undergone any life changes like marriage, new children, divorce, deaths, falling outs with any loved ones … it’s worth taking a look at who you’ve designated as beneficiary to make sure it still feels right to you.

And if you don’t already have life insurance, you can apply for a policy in 10 minutes online with Fabric.

3. Deal With Summer Childcare (If It Even Exists)

Summer camp ain’t cheap. And in the coronavirus world order, it may not even be an option. If you live somewhere that camp is still in session and you're hoping to fill your kid’s summer with tetherball and crafts, you should probably start budgeting for it now.

And if you're likely on watch-the-kids-all-summer-while-quarantined duty, now's a good time to do some long-term planning for your work life (and also a good time to take a breath and attempt to savor these non-optional moments with your family). Think, also, about creating a regular daily schedule and how you might make summer feel different for the kids from the school year.

4. Look Up Your Credit Score

Ideally, we should each check our credit score once each quarter to make sure that it’s trending in the right direction and that there are no unforeseen complications. For example, if your score dropped 50 points over the last couple months through no obvious action of your own, you should probably check whether there’s been any fraud or mistaken activity on your accounts. 

Distinct from a credit report, your credit score is just a number broadly encapsulating how you’re doing credit-wise. There are several services that’ll let you get an estimate of your score for free, such as Credit Karma.

Looking to improve that score? One key way is to reduce your credit utilization ratio, or the amount of debt you put on your credit cards compared to the total amount you could put on them.

5. Check In on Retirement

Even though “buy and hold” is often a good strategy for the long haul, it’s smart to check in regularly to make sure you’re on track for your retirement goals. Try using an online retirement calculator (we like this one from Bankrate) to see how much you might need for your retirement, and how close you are to hitting that goal. 

If you’re not quite on track, see if there are any small ways you can nudge yourself back to where you need to be. For example, maybe you increase your 401(k) contribution at work, or you resolve to order takeout one fewer night a week and dedicate the savings to your retirement fund.

Whatever spring has been springing upon you, we’ve got one last to-do for you: Get outside and enjoy the fresh air.

Want to see what's in store for next season? Check out our summer financial to-do list.

Fabric exists to help young families master their money. Our articles abide by strict editorial standards.

This material is designed to provide general information on the subjects covered. It is not, however, intended to provide specific financial advice or to serve as the basis for any decisions. Fabric Insurance Agency, LLC offers a mobile experience for people on-the-go who want a easy and fast way to purchase life insurance.

Subscribe to our newsletter

Written by

Allison Kade

Related Posts

Modern Family Finances

Your Winter Checklist: How to Prep Your Finances for the New Year

No time + needing to look after the ones you love = a quarterly checklist to help keep you on track, so you can get back to wiping boogers and giving snuggles.

By Allison Kade
Modern Family Finances

Your Fall Money Checklist: 5 To-Dos

As you get back in the swing of the daily grind, we’ve got some money to-dos to keep your financial life chugging along smoothly.

By Allison Kade
Modern Family Finances

5 Quick Ways to Stay on Top of Your Money This Summer

Summer’s about taking it easy - but also using your breathing room to feel on top of your game. Here are 5 to-dos to keep you on your game.

By Allison Kade

Fabric Picks

Life Insurance 101

What Is Permanent Life Insurance?

Whole life insurance provides coverage throughout your life. That’s different from term life insurance, which only covers you for a specific period of time.

By Sarah Li Cain
Life Insurance 101

Life Insurance Regulations: Who Oversees Life Insurance Companies?

Life insurance is supposed to provide you with peace of mind, but who’s making sure the insurance company can deliver on their promises?

By Jessica Sillers
Modern Family Finances

What You Should Know About Your Emergency Fund During COVID

The pandemic and economic challenges mean some families have exhausted their emergency cash. Here’s how to prepare for (and deal with) the worst.

By Jessica Sillers

About Fabric




Subscribe to our newsletter

© 2021 Fabric Insurance Agency, LLC

Accidental Death Insurance policies (Form VL-ADH1 with state variations where applicable) and Term Life Insurance policies (Form ICC16-VLT, ICC19-VLT2, and CMP 0501 with state variations where applicable) are issued by Vantis Life Insurance Company (Vantis Life), Windsor, CT (all states except NY), and by The Penn Insurance and Annuity Company of New York (NY only). Coverage may not be available in all states. Issuance of coverage for Term Life Insurance is subject to underwriting review and approval. Please see a copy of the policy for the full terms, conditions and exclusions. Policy obligations are the sole responsibility of Vantis Life.

Fabric Insurance Agency, LLC (FIA) is an insurance agency licensed to sell life and accident insurance products. FIA will receive compensation from Vantis Life for such sales. The NAIC Company Code for Vantis Life is 68632. See the Terms of Use for additional information regarding FIA.

Plan like a parent. is a trademark of Fabric Technologies, Inc.