With spring marking a time of renewal and fresh starts, experts say it’s the perfect season to adopt new frugal habits that can lighten your budget and improve your financial health for the remainder of the year.
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“The spring clean isn’t just reserved for your physical space,” said Andy Chang, founder and CEO of The Credit Review. “Declutter your finances as well by selling unused items — for some cash on the side — and review or cancel underused subscriptions to trim down monthly expenses.”
He says leveraging the springtime energy to revisit and possibly recalibrate your budget can ensure you’re on track to meet your financial goals. Here are some frugal habits to adopt this season.
Spring-Clean Your Finances
“Springtime is when many of us partake in spring cleaning,” said Carter Seuthe, CEO of Credit Summit Debt Consolidation. “I think it’s a great idea to take this concept and expand it beyond simply deep-cleaning your home. You can spring-clean your finances as well,” he highlighted.
Seuthe explained, “Take a look at your monthly spending habits and identify ways to reduce your spending. Are you still paying for a subscription you no longer use? Get rid of it. Have you recently been overspending on clothing or dining out? Commit yourself to cutting back in those areas.”
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Make Your Own Cleaning Supplies
Spring cleaning season is a great time to start making your own household cleaners, said Jake Hill, CEO of DebtHammer Consolidation. “Since most homemade cleaners cost just pennies to make, this frugal habit can help you save a substantial amount of money throughout the year.”
As an added bonus, he said homemade household cleaners have fewer chemicals, which makes them better for you and the environment.
Similarly, Eric Croak, certified financial planner and president at Croak Capital, noted that April is the ideal time for adopting this frugal habit.
“Even though it might not seem costly, the expenses for cleaning supplies and organizing tools can accumulate,” he said, “You can make your own cleaning supplies! Pinterest is full of homemade cleaning solution recipes using ingredients you likely have at home.”
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Save Money During Easter
Easter is often a highly anticipated event in spring. During this time, Croak recommends keeping a check on your holiday expenses, and spend each Easter dollar thoughtfully.
“Plan your Easter activities well in advance and prepare accordingly. Don’t push yourself to do anything extravagant and really consider what you want to do during the holiday. There are numerous ways to cut costs on Easter with just a bit of effort,” he said.
Reduce Energy Consumption
Adam Garcia, financial consultant and CEO of The Stock Dork, recommends taking advantage of the warmer weather to reduce energy consumption by opening windows instead of using air conditioning and line-drying clothes instead of using a dryer.
Chang advises the same. “As the weather warms up, consider transitioning to a more energy-efficient lifestyle by taking advantage of natural lighting, and reducing the use of HVAC systems,” he said.
Budget for Your Summer Plans
“Springtime ends up being a time in which many people overspend in preparation for their upcoming summer plans,” said David Kemmerer, CEO of CoinLedger. “For example, those with summer trips planned or an entire season planned out at a beach home often will drop a pretty penny on basically an entirely new wardrobe.”
He continued, “Their upcoming plans are used as justification to spend more money than they realistically need to be spending. So, a good frugal habit to adopt in the spring is assessing what you already have and can use again for your summer plans — and then only buying the items that you specifically don’t have but know you will need.”
Use Your Tax Refund To Pay Off Debt
“Because spring is tax season, many people are receiving their tax refunds during this time,” said Ann Martin, director of operations at CreditDonkey. “When you do receive a refund, put that money toward paying down your biggest debt bill. Or choose the one with the highest interest rate.”
She pointed out that paying off debt is going to free up a significant portion of your budget each month, so it will benefit you to pay off as much debt as you can. “Springtime is the best time to start this, because the tax refunds you may be getting helps start the process,” she said.
If you can pay off one account completely, she advises using the money you were allocating for that account to pay down your next biggest bill — and keep that system going until you’re debt free.
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This article originally appeared on GOBankingRates.com: 6 Frugal Habits To Adopt in the Springtime