5 Reasons Why You Should Revisit Your Daily Spending as Part of Your Spring Cleaning 2021

May 4, 2021 3:00:00 AM Budget, emergency loan




Written by Spotloan

It’s that time of year again when we all start to open up the windows, dust things off, and get ready for a fresh start. Research shows that spring cleaning can even improve our moods. A fresh and clean home naturally boosts endorphins in the brain, improves mood and energy levels, reduces stress and depression, and helps strengthen your immune system. 

But spring cleaning should extend beyond your closets and couch cushions. Your spring cleaning checklist should also include revisiting your budget. After all, finances are a major contributor to the status of our mental health. Of all the spring cleaning hacks we’ve come across, the one that matters most is that it should involve both the space around you and the space inside you. 

5 Reasons Why You Should Revisit Your Daily Spending as Part of Your Spring Cleaning 2021

Your Budget Has Likely Changed

Winter comes with a host of additional costs that we often don’t think about. There’s additional holiday spending, which might include decorations, larger meals, gifts, and getaways. Then there are also increased heating costs as the cold wind blows on the other side of our walls.

You Can Use Your Spring Budget to Refocus and Prioritize 

With the weather warming up, the sun shining through our windows, and the season of holidays and hosting over, those extra winter funds can be reallocated. This reallocation gives us a fresh start, a chance to cut back on unnecessary spending and the ability to regain control of our bank accounts. These extra funds can go to a savings account, toward bill pay, or toward another financial goal.

Your Major Budget Categories May Have Changed

On top of having fewer gifts, meals, and heating bills to account for, some other major budget categories may have been altered since the last time you cleaned up your budget. If you’ve started working from home over the last year, your transportation costs likely went down. 

On the flip side, you’d also likely see an increase in your utility bills as you’ve started to spend more time at home. With historically low interest rates over the last year, you may have refinanced your mortgage or taken advantage of student loan forbearance.

Small Leaks Sink Ships

Budgeting isn’t a one-and-done activity. Our finances are constantly subject to change. Those changes may be immediate and noticeable, but they might also be slow and steady, creating a leaky bank account. Revisiting your budget often helps you identify these leaks immediately and fix them right up. Whether your leaks are due to unanticipated fees, impulse purchased and splurges here or there, or wastefulness, identifying the problem and making a change can be very financially beneficial.

You Won't Know What Spending Changes You Need Until You Take a Deeper Dive

Speaking of leaks, budgeting and living within our means are two fundamental financial strategies, but we often need more. Without a budget and visits to our daily spending habits, we’re allowing our finances to become a guessing game. 

When it comes to something as important as this, guessing simply isn’t enough. It’s hard to know what we need until we take a deeper look. If a revisit to your budget reveals any concerns, it’s best to know about it right away. And if you’ve fallen behind after a long worrisome winter, a quick Spotloan can help you get right back on track

Applying for a Spotloan

Applying for a Spotloan is fast and easy with our online application process. Most of our customers are able to finish their application in about ten minutes, making it easy to complete during a lunch break or while dinner’s in the oven. And unlike payday loans, you determine your payback period, allowing for up to ten full months to catch up.

While there are many reasons to take advantage of all that Spotloan has to offer, we understand that our emergency loans aren’t ideal for everyone. As with all other financial activities, you should do your research to determine what your options are and which one best fits your unique needs. 

If you have Spotloan questions, you may find answers on our FAQ page or our Financial Education blog. Our customer service team is also available Monday through Friday from 8:00 a.m. to 6:30 p.m. and from 9:00 a.m. to 6:00 p.m. on Saturdays. 

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