Spring Cleaning Your Finances

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Spring Cleaning Your Finances

Wealth management expert Casey Marx goes over some of the financial housekeeping steps you should take to make sure you are in a good spot.

STATEWIDE -- Now that it's finally starting to warm-up many Hoosiers are likely deep diving into some spring cleaning.

Though it's always good to keep things neat and tidy around your home, Casey Marx, a wealth management expert at Crown Haven Wealth Advisors, advises your to make that same effort to clean up you finances as well.

"Spring is a great time to reassess and it's a great time for renewal," Marx said. "This is a time we normally tell our clients to take a look at these things and make sure they are set up correctly."

Managing your debt should be one of your top priorities, according to Marx. He suggests creating a budget to add up everything that is necessary, such as groceries, energy, etc. You can then use that number to figure out where you can afford to cut back in order to save money.

Marx added that you should also be up to snuff on your retirement planning.

"A lot of times we look at a client's portfolio and realize it doesn't add up with their goals," said Marx. "I can tell you the one thing that people worry about the most is running out of money in retirement."

Finally, he suggest cleaning out all those documents you have in your desk or filing cabinet and going digital.

"Anything that has a social security number or a date of birth, you'll want to get rid of those," he added. "To go digital is just an easier way to manage some of these things." 

(PHOTO: money_pile/Thinkstock)

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