How to Spring Clean Your Finances

Most college students are now back from spring break...


That being said, how was yours? One of three things may have happened; you went somewhere warm, did absolutely nothing, or somehow was productive. Okay, go ahead and laugh. Let's be honest with ourselves, we didn't get much done at all.

Spring break was a time to relax so don't regret watching a whole season on Netflix in 48 hours. However, now that you had time to catch up on sleep and your favorite TV show it's time for some spring cleaning!

Whenever the weather actually stays consistent with spring weather you can clean the gutters, pull the weeds out of your landscape and finally clean your car out. Until then let's work on the inside of the house/dorm. Close your eyes and picture your room; if you're in your room keep them open and look around. What does it look like?

If you can't find a part of your desk that isnt covered with unfinished homework assignments then it's time to start cleaning.

"Housework is something you do that nobody notices until you don't do it." Author Unknown

Cleaning and organizing not only clears your mind to be able to relax, but allows you to be more productive. When cleaning your desk take extra time to organize your financial files, budgets, and bills.

From previous posts it was discussed to begin an envelope system. When cleaning out your desk and rumaging through paperwork you can organize certain areas into files. These things can be bills, taxes, paycheck stubs, and even things like car payments etc. Virtually anything in your life that is involved with your finances.

As college students we have so much to remember! College has taught us how to create mental files in our brain separating everything, but combining it at the same time. It's like the analogy of a house vs. a one bedroom apartment.

In a house we separate every room into different sub categories while a one bedroom apartment includes every part of a functioning house, but in one room. It is very important that all our finances are in this one bedroom apartment.

Everything we pay for or save up for affects everything else. You never want to make decisions being unaware of your current standing finances. It's the idea of keeping everything together in one spot seeing everything at once.

Often this organization can go beyond physical files by using Office's Excel program to create spreadsheets to view where your money is going and how it affects the rest.

While our spring cleaning is beginning on the inside of the house, possibly begin to sort through closets and basement boxes. During this transition between winter and spring we can prepare for things like garage sales or finding clothes to sell at local consignment shops. It's a great way to get rid of clutter and possibly make a few extra bucks for social activities once spring brings summer.

The easiest way to be in control of your finances and spending is to have organization. Take the time to organize your desk, closet, and finances. It is sure to relieve stress and virtually make life a little easier. If you have any ideas on spring cleaning your finances feel free to comment and share! We're all in this together.

For more great ideas on spring cleaning your finances visit mint life for new ways to spring clean!

Frustrating Friday's

"I have credit card debt"

Did your skin just crawl? Mine did. No one wants to say this and no one wants to hear this. It is truly a nightmare and I do not wish it on my worst enemy (hopefully none of you do...). 

Yet, credit card debt is one of the most common problems in America today. The average credit card debt is $15,270.

Let that sink in.

Guess what the target age group is for credit cards? You guessed right it's me, you, and the rest of the 17 million enrolled college students in America today. Yet, according to society we need a credit card. Unless your reason for a credit card is education, you do not need one.

This "Frustrating Friday's" post is directly related back to last weeks frustrating post. It's the idea of not spending more than you make/earn. The credit card's definition is initially a bi-polar opposite to this very phrase. Every time a credit card is swiped imagine the customer giving the cashier a sticky note that says IOU (I owe you) because this is exactly what they are doing. 

The media is pushing credit cards everywhere you turn. It has almost come to a point that if you don't have a credit card you're out of place among society. 

I know there are people that can control their credit and have good credit scores, but as college students is it necessary to have a credit card right now?

Honestly it's the last thing you want to have when you want to start budgeting. It is so crucial to see your physical money. 

There is no emotional effect behind a swipe of a card. If you can physically see your money in your wallet it's easier to become "more attached" if you will and less likely to spend it. This is where the envelope system significantly helps you view your budget and your funds. 

As I said before, the media isn't helping to teach America how to budget their money. To the right here is the infamous Barbie. Often she comes in many different outfits relating to jobs and work attire such as Barbie the vet, Barbie the nurse, or Barbie the teacher. 

However, this Barbie is the "cool shoppin' Barbie." The commercial for this Barbie came out in 2007 and explains quite clearly how many college students have the same limited swipe mindset. 

When beginning your budget ditch the credit cards. Don't become shopping Barbie. 

I hope you find the posts helpful and if you're interested in being notified by email about new posts you can submit your email to the right of the page. Thanks again for reading!