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Spring cleaning your personal finances


As you shake off those winter doldrums, put away the snow boots and prepare to deep clean the house, you can add a new technique: spring cleaning your financial house. 

It’s so easy for us to put our financial lives on autopilot and fail to evaluate the ways we’re spending and the products we’re using. So, once a year you should set the practice of running a financial audit to determine which products and services you no longer use or could switch to get a better rate.

To get started, you want to print out a year’s worth of bank and credit card statements. A true audit needs to be run by having all of the financial information in front of you.

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Audit your statements, realistically

Search for both monthly and annual fees you pay and make note of any services you no longer use. And be honest with yourself. This should be about what the real version of yourself utilizes, not the idealized version who reads The New Yorker cover to cover each week and doesn’t let it just stack up in an overwhelming pile in the corner. Do the math on how often you go to the gym vs your monthly membership fee and see if it’s still worth the cost per visit. 



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