News Column

Spring Clean Your Finances

Mar 22 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwire) -- 03/22/13 -- After a long and cold Canadian winter, spring tends to bring signs of hope and renewal. As days grow longer and trees begin to bud, spring is the perfect time to clean up our finances, reduce debt and let our financial health bloom.

"After a good spring cleaning there is a feeling that things will be different from now on, so why not apply the same intention to our finances?" says Jeffrey Schwartz, executive director of Consolidated Credit Counseling Services of Canada, Inc. "Tackling debt and cleaning up financial problems can create peace of mind - making spring the perfect time to get your financial house in order."

To help Canadian families get started with their spring financial cleaning, Consolidated Credit offers these tips:

Clean out the clutter - Addressing your financial health is always easier when records are organized and up-to-date. Take the time to organize your bills, receipts and statements or establish a new filing system that will allow you to keep yourself organized and track spending.

Do a credit check - A clean and accurate credit report is essential to a healthy financial outlook. When spring cleaning your finances, take the time to request free copies of your credit reports from TransUnion and Equifax. Your credit report is a snapshot of your financial health, so it is important to review for accuracy and report any mistakes you may find.

Wipe out debt - As tax refunds start to make their way into mailboxes across the country, consider putting yours towards your credit card debt. If the return is not big enough to completely eliminate credit card debt, design a savings plan to tackle debt throughout the year.

Balance your budget - While budgeting always seems overwhelming; it's really just a list of money coming in and money going out. Download a free app or web program that can easily help you manage your finances and reduce overspending.

Save for a rainy day - Once you have cleaned out the clutter, created a debt repayment strategy and addressed your household budget, it's time to start saving for the future. Creating an emergency fund or saving for a raining day is a critical step towards financial freedom.

About Consolidated Credit Counseling Services of Canada:

Consolidated Credit Counseling Services of Canada is a national non-profit credit counselling organization that teaches consumers about personal finance. For more information, visit www.consolidatedcredit.ca or call the toll-free phone line at 1.800.656.3920.



Contacts:
For more information or to request an
interview with Jeffrey Schwartz:
Consolidated Credit Counseling Services of Canada, Inc.
Kylie-Anne Doerner
Communications & Public Relations Manager
(B) 416.915.7283 ext. 1057 or © 289.231.7900

kdoerner@consolidatedcredit.ca
www.consolidatedcredit.ca





Source: Marketwire


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