MILWAUKEE -- If you win the Mega Millions jackpot of $500 million, you can hire a team of people to clean your house. Spring cleaning can be a massive chore, but the end result typically brings order back to your home. Contact 6 has some tips for cleaning up your "financial house."
If you're buried in bills and piles of paperwork, Contact 6 has six ways you can do some serious spring cleaning.
First - organize your accounts. Try to consolidate your money into just one or two accounts at one bank. It may also be time to check your bank fees and look for better deals at other banks!
Then - clean up your debt! Tackle credit cards with the highest interest rates first, and consider buying gifts throughout the year, so you don't have one big pile of bills at the end of the year.
Once you reduce your debt, slash your spending! Try building a budget to control your finances, and only spend what you really need. Then, save the rest. You'll have a nice little stash this summer for something fun.
Next - manage monthly bills. Maybe you don't need all those movie channels on your cable, or can get by with fewer features on your smart phone. It may be tough at first, but it will save you money every month.
Next - update your insurance policies. Competition is driving rates down. Maybe it's time to call around for new quotes.
It's never a bad idea to plan for the future. Meet with a financial advisor and find out how to best manage your 401K and retirement plans.
Doing a little spring cleaning on your finances is a good way to manage your money year round.
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