TAMPA, Fla. — Prices on everyday essentials like groceries and gas keep rising.
As costs increase, financial experts believe now is a good time of year to take inventory of your finances. Think of it as spring cleaning for your wallet.
WATCH Financial expert suggests 'spring cleaning' for your finances
"This is a good opportunity to really take a look at where your money is going and make some adjustments," said Yasmin Rivera, with GTE Financial.
You can do that by looking at the last 30 days of your spending and then ask yourself some questions.
"Where is my money going? Where can I tighten up, or save? And then create a budget accordingly," said Rivera.
With so many digital resources and apps, it’s easier than ever to refresh your budget or start one if you don’t have one.
"It’s not as overwhelming to create a budget as we might think," said Rivera.
She recommends setting up direct deposits to different accounts to help set your budget.
Ideally 50% of your money should go to your needs, 20% to your savings, and 30% for fun.
"And now you’ve already naturally budgeted without the overwhelming feeling of having to sit here, transfer money around. Just automate it and make your life easier," said Rivera.
You should also take a look at all of your accounts, and close any that are unused.
"Clutter can accumulate in our finances, just like in our homes," said Rivera.
Then double check all your subscription services to make sure you’re not paying for anything you don’t need.
"Or subscriptions where maybe one subscription offers multiple services and you can streamline and condense, save yourself some money," said Rivera.
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