Financial Spring Cleaning

/

Financial Spring Cleaning: Refresh Your Finances After Tax Day

Now that Tax Day is in the rearview mirror, it’s the perfect time to do a little financial spring cleaning. Just like decluttering your home, organizing your finances can bring clarity, reduce stress, and set you up for a smoother, more prosperous year ahead.

Here are some smart, simple steps to refresh your financial life this spring:

1. Review Your Tax Return

Take a few minutes to look over your return—not just to file it away, but to learn from it.

  • Did you get a big refund or owe more than expected? That’s a sign you may need to adjust your withholdings or estimated payments.

  • Were there deductions or credits you missed out on? Make a note now so you can plan ahead and take advantage of them next year.

2. Organize and Digitize Your Financial Files

Spring cleaning is the perfect time to sort through paper clutter and digital disarray.

  • Shred old statements, bills, and tax documents you no longer need (most experts recommend keeping tax records for at least 3–7 years).

  • Scan and store important documents in a secure cloud-based system.

  • Create folders for this year’s financial records so you’re ahead of the game for next tax season.

3. Check In on Your Budget

A lot can change in a few months—has your budget kept up?

  • Review your income and expenses for the year so far.

  • Adjust your budget to reflect any new goals or changes (like a raise, move, or upcoming vacation).

  • Look for subscription services or recurring charges you no longer use. Cancel and save!

4. Revisit Your Financial Goals

Now’s a great time to assess your progress and re-align your goals.

  • Are you on track with your savings goals?

  • Do you need to boost your emergency fund?

  • Could you increase retirement contributions or start investing?

Even small tweaks can make a big difference over time.

5. Check Your Credit Report

You’re entitled to a free credit report from each of the three major bureaus every year. Spring is a great time to check for:

  • Errors or inaccuracies

  • Signs of identity theft

  • Ways to boost your credit score

Visit AnnualCreditReport.com to get yours.

6. Clean Up Your Accounts

Simplifying your financial life can make things more manageable and secure.

  • Close unused bank accounts and credit cards (just check how that might affect your credit score first).

  • Consolidate retirement accounts, if it makes sense for your situation.

  • Set up autopay for bills to avoid late fees and improve consistency.

7. Plan Ahead

Spring cleaning isn’t just about the past—it’s about preparing for what’s next.

  • Think about big expenses coming up (back-to-school, holidays, summer trips).

  • Set calendar reminders for financial tasks throughout the year (quarterly reviews, estimated tax payments, open enrollment periods).

  • Schedule a check-in with a financial advisor if you want expert help aligning your goals and strategy.

Final Thought

Taking the time now for a financial refresh can save you money, reduce stress, and set you up for a smoother year ahead. So while you're dusting the shelves and swapping out winter coats for sandals, don’t forget to tidy up your financial life too. Your future self will thank you.

Authored By: Jerit Tripp,
CFP®, CRPS®, CWS®, BFA, CPFA

All opinions expressed in this article are for general informational purposes and constitute the judgment of the author(s) as of the date of the report. These opinions are subject to change without notice and are not intended to provide specific advice or recommendations for any individual or on any specific security. The material has been gathered from sources believed to be reliable, however Adviser cannot guarantee the accuracy or completeness of such information, and certain information presented here may have been condensed or summarized from its original source. Gilbert & Cook does not provide tax or legal or accounting advice, and nothing contained in these materials should be taken as such. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. As always please remember investing involves risk and possible loss of principal capital and past performance does not guarantee future returns; please seek advice from a licensed professional. Gilbert & Cook is a Registered Investment Adviser. SEC Registration does not constitute an endorsement of Gilbert & Cook by the SEC nor does it indicate that Gilbert & Cook has attained a particular level of skill or ability. Advisory services are only offered to clients or prospective clients where Adviser and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Adviser unless a client service agreement is in place.