Spring is a season of renewal, making it the perfect time to freshen up more than just your home. Your finances deserve a spring clean too. According to Brigid McCleary, Durban-based Financial Planner at Designed Wealth, “Taking a few simple steps to organise your money can set you on a more confident path for the months ahead. Spring cleaning your finances is about clarity, control, and planning for the future.”
Brigid shares five practical tips to help you get started:
Review Your Spending and Set New Goals
Start by looking at your last three bank statements. Divide your spending into four categories: essential fixed (rent or insurance), essential variable (groceries or fuel), non-essential fixed (subscriptions), and non-essential variable (takeaways or shopping). Once you see exactly where your money is going, it becomes easier to spot overspending. Use this insight to set new savings goals for the rest of the year, focusing on what matters most to you.
Cancel, Switch, or Negotiate
Revisit your regular bills such as utilities, insurance, and phone contracts. Many service providers offer better rates and deals to new customers, so don’t be afraid to shop around, negotiate, or switch providers. Every small monthly saving adds up and can make a big difference.
Check Your Credit and Clear the Clutter
Download a copy of your credit report to check for any errors or unexpected accounts. Free tools like Old Mutual Rewards provide access to a credit score calculator and Vault 22, an app that links to your bank account to track your spending and generate a monthly report. You can also create budgets and set spending categories.
Spring is also the perfect time to declutter your outdated financial ‘paper trail’ by shredding old documents. Rather switch to paperless billing, where possible, to cut down on clutter.
Tidy Up Your Savings and Investments
Take stock of where your money is held. Old savings accounts or pension funds from previous jobs can be consolidated to make managing your finances simpler and more effective. This ensures that your investments align with your goals and are positioned to grow for the future you want to build.
Create or Update Your Will
September is also Wills Week (15–19 September), a timely reminder of the importance of estate planning. “Having a valid, up-to-date will is one of the greatest gifts you can leave behind,” says McCleary. “It’s not just about wealth but about easing the burden for your loved ones.” Keep your will simple, valid, and reviewed annually. Create a ‘life file’ containing essentials such as your will, insurance policies, property deeds, ID copies, medical aid details, passwords, and the contacts of your executor or advisor. This acts as your voice when you are no longer able to speak, providing clarity and peace of mind for your family.
“Spring cleaning your finances doesn’t need to feel overwhelming. By tackling these steps one at a time, you can enjoy greater peace of mind and feel more financially secure,” concludes McCleary.
