Time to spring clean your budget

Look for areas that can be trimmed

(CNN) – Just like spring cleaning, your home now can be a good time to tidy up a household budget. With tax day around the corner, money is on the minds of many, especially those who have received a refund.

Don’t let that influx of cash throw a spending and saving plan off course. Instead, review your plan, to make sure it still fits your needs. This includes revisiting all the basics.

Credit.com recommends evaluating all income, calculating expenses, identifying the places where you can cut back, and making sure there’s enough left over to stash in an emergency fund.

America Saves, a campaign of the Consumer Federation of America, recommends using a digital tool like a smartphone app or spreadsheet to keep track of spending over the course of a few months, to see exactly where your money is going. Then, lock into a plan.

Also, look for areas that can be trimmed, so you can free up more cash to pay down high-interest debt.

While cleaning up a budget for day-to-day expenses, don’t forget to make room for longer-term financial goals like retirement or college funds.

Copyright 2016 CNN

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