Do Yourself a Favor and Get These Five Financial Chores Done Before Spring

February 15, 2022

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With the cold weather continuing to drive us indoors, there’s no reason to put off spring cleaning until things start to thaw. And while cleaning out the dust bunnies that stuck around over the winter is important, it’s important to get some financial chores taken care of, too.

Prioritize these Financial Chores Before Spring

Here is our list of financial chores we should prioritize to get a jump start before Spring:

Prep Your Taxes

Although it may end up being the most time-consuming task on this list, we recommend starting with your taxes. The reason for this is two-fold. The first reason is that putting off all of your financial chores until Spring will leave you scrambling at the end of tax season.

The second reason is that there may (once again) be COVID-related delays with our tax refunds this year. As of May 17, 2021, the IRS was holding 35.3 million tax returns for employee review, leading to refund delays for many.

This is particularly problematic considering that refund delays have a disproportionate impact on low-income individuals and families. The best way to ensure that you get your money quickly is to file early and beat the rush of late filers.

Clean Out Financial Clutter

Clutter, financial and otherwise, tends to accumulate faster when we’re spending more time at home. That’s why the tail end of winter is a great time to clean out financial clutter and organize your files, whether they’re digital or physical.

Shred old checks, bank statements, and receipts that you no longer need, and file important tax documents somewhere safe. Now is also a great time to make a few calls and opt out of getting those repetitive, clutter-inducing credit card offers.

Check In with Your Goals

Since most people abandon their New Year’s resolutions by February, now is a great time to check in on yours. Checking in with your goals and progress can help you stay motivated, avoid slip-ups, or get back on track if you’ve strayed.

One of the most important financial resolutions for the new year is budgeting, since bills and income frequently change. Add a family or spouse money meeting to your short-term to-do list to get this key financial chore completed before the frost starts to melt.

Give Your Credit a Boost

Credit scores are important, especially for those who have credit cards, mortgages, or other loans, and those who will soon be applying for them or a rental. Therefore, taking control of your credit score is a crucial financial chore to focus on.

Here are a few quick tips for boosting your credit:

Set some realistic goals; nothing throws us off-track faster than setting unreasonable goals and getting discouraged when we can’t keep up.
Develop a credit repair plan that involves making on-time payments, keeping your credit utilization under 30%, and other small, manageable goals.
Celebrate small victories, like an extra debt payment, an extra point or two on your credit score, or a credit line increase. Recognizing our accomplishments helps us stay motivated and focused.
Use apps, spreadsheets, or notebooks to track your progress.

If there are errors on your credit report, there are credit repair companies that can help get them removed. Different companies are better for different situations and personal preferences, so this step would take some research but may help significantly improve your credit score.

Ask for Help When You Need It

Credit repair isn’t the only situation that may lead you to look for outside help. If your financial goals for this year include catching up on overdue bills, rent, loan payments, or other financial necessities, a quick and easy Spotloan can help you get caught up.

Personal loans like these are also ideal for debt consolidation. If you have a slew of confusing debt payments to worry about, consolidating them into one can help simplify the process. Checking your rate won’t affect your credit score and will take less time than the average lunch break, so there’s no downside to identifying your options.

And because it’s an installment loan, not a payday loan, you pay down the balance with each on-time payment. Spotloan is a better way to borrow. Follow the link above to get started.

Budget

Spotloan is a brand owned by BlueChip Financial ("BlueChip"), a tribally-owned entity organized under and governed by the laws of the Turtle Mountain Band of Chippewa Indians of North Dakota, a federally recognized Indian tribe (the "Tribe"). BlueChip is located on, operates within, and originates and services loans from the Tribe’s reservation. Though Spotloans are available to residents of certain states, consumers should know that BlueChip’s lending license is issued by the Tribe's Lending Commission, and not by the states in which its consumers may reside. Although the visitation is electronic, consumers are coming on to the Tribe’s reservation and subject to the Tribe’s jurisdiction to obtain a Spotloan.