A To-Do List for Your Financial Spring Cleaning

Spring cleaning isn’t just for closets and garages. Once tax season wraps up and life settles back into its normal rhythm, it may be the perfect moment to tidy up your financial life. A little intentional cleanup now can prevent headaches later, keep your accounts working efficiently, and help ensure your longterm plans stay on track. Think of this as your annual financial reset – simple steps that create a more organized, resilient financial picture.

1. Roll Over Old 401(k)s, HSAs, and Other Employer Accounts

If you’ve changed jobs over the years, you may have retirement plans, HSAs, or other employer accounts scattered across institutions. Consolidating them is one of the highest impact steps you can take.

• Avoid forceouts and neglected investments. Old employer plans can be automatically cashed out or moved into low yield accounts if balances fall below certain thresholds. Rolling them over into an IRA or your current employer plan keeps you in control.
• Keep beneficiaries updated. Life changes – marriage, divorce, children, loss – and outdated beneficiary designations can create disastrous outcomes. Old accounts with old beneficiaries override your will, so reviewing them annually is essential.

2. Make Sure Your Investment Accounts Are Actually Getting Invested

It’s surprisingly common for money to sit idle in investment accounts. Whether it’s a recent deposit, a rollover, or dividends that haven’t been reinvested, uninvested cash can drag down long term returns.

• Confirm deposits are invested promptly. Log in and check that contributions, especially to IRAs and brokerage accounts, aren’t sitting in cash.
• Move excess cash into accounts with higher yields, like money market funds or high yield savings accounts. If you’re intentionally holding cash, make sure it’s earning something.
• Automate where possible. Automatic investment instructions can help ensure cash doesn’t quietly accumulate and lose purchasing power over time.

3. Clean Out Your Subscriptions

Subscription creep is real. Streaming services, apps, software, memberships – many of us pay for things we no longer use or forgot we signed up for.

• Review your bank and credit card statements for recurring charges.
• Cancel anything you don’t use or don’t value.
• Consider annual billing for services you keep if it offers a discount.

This is one of the easiest ways to free up cash flow without changing your lifestyle.

4. Close Old Credit Cards and Streamline Your Wallet

Credit cards can pile up over time, especially when promotional offers or store discounts tempt us into opening new accounts.

• Consolidate to the cards that give you the best rewards. Keep the ones with strong points programs, no annual fees, or benefits you actually use.
• Pay off cards every month – and turn on autopay. Autopay protects you from missed payments, late fees, and unnecessary interest.
• Freeze your credit. Make online accounts at the 3 major credit bureaus and freeze your credit. This protects you from hackers trying to use your identity and credit. You can unfreeze your credit when you need to use it again.

5. Make (or Update) Your Estate Plan

Once your financial life is organized, it’s time to ensure your loved ones are protected. Estate planning is one of the most important – and most avoided – parts of financial wellness.

• Don’t put it off. Without a will, your assets pass through probate, a long, expensive, and emotionally draining process for your family.
• If you have children, this becomes even more critical. Guardianship decisions, access to funds, and clarity around your wishes all depend on proper documents.
• Add Transfer on Death (TOD) Designations to your taxable accounts. TOD forms add beneficiaries to non-retirement accounts. TOD ensures a straightforward transfer of assets outside of probate, and are easy to update when life changes.

A little financial spring cleaning can go a long way. This to-do list helps you create a financial foundation that’s organized, intentional, and aligned with your goals. It’s one of the best gifts you can give yourself – and your family.

And it’s always nice to have some help. If you’d like some professional assistance with your (financial) spring cleaning, please reach out to the Walsh Investment Consulting Group at 904-839-2891 or www.nflafp.com.