Financial Spring Cleaning

by | Apr 8, 2021 | Wealth Management

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This is one of our favorite times of the year. We are approaching spring, so the days are longer, air is warmer, and the final snow is melting away. This is also the time of year people begin spring cleaning and getting their house or other affairs in order. Since finances are on people’s minds since we are in tax season, we thought it would be a good time to do some spring cleaning for your finances as well. Below should be a helpful checklist to help with some spring cleaning:


  • Prepare and file your taxes (*note the new deadline of May 17th)
  • Review withholding if you owe or receive large refund. Use this IRS tool.
  • Discuss tax strategies for this year with your tax advisor or financial planner
    • Charitable gifting strategies
    • Strategies for business owners
    • Strategies for those with executive benefits
    • Roth conversions


  • Develop and/or review your budget
    • Contact insurance providers to try and reduce rates
    • Contact internet, cable and cell phone providers to make sure you are getting the best rates
  • Review you credit reports from Experian, Equifax and Transunion. Click here to do it for free.
    • Dispute any wrong information
  • Review your credit score. This can be done with any credit card provider for free or use a site like
  • Develop a plan to pay off your debt

Other Important Items

  • Review your financial plan if you have not done so in last couple of years and/or if any major life changes have occurred
  • Review your estate plan if not done in last five years due to recent changes in the law
  • Review your investment allocation
  • Rebalance your investments if not done in last twelve months

Disclosure: BFSG does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to BFSG’s web site or blog or incorporated herein and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. Please see important disclosure information here.

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*Please Note: Limitations.  The scope of services to be provided depends upon the terms of the engagement, and the specific requests and needs of the client. BFSG does not serve as an attorney, accountant, or insurance agent.  BFSG does not prepare legal documents or tax returns, nor does it sell insurance products.  Please Also Note: Different types of investments involve varying degrees of risk.  Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended and/or undertaken by BFSG) or any financial planning or consulting services, will be profitable, equal any historical performance level(s), or prove successful.

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