Spring is the best time to get organised and refresh your finances

According to some financial institutions, there is no better time to get your budget in order than spring time.

16:51 11 March 2013

As April is already fast approaching, more and more people are now tracking down and sorting through their financial documents for tax filing purposes. As you prepare your financial documents, why not review your finances and make adjustments for the future as well?

Aside from making everything organised, you might even find more deductions to claim on your tax returns. 

 

Here are some tips on how you can make this happen: 

 

• First thing that you need to do is to review your credit report. There are several reasons why you should do this at least once every year.

 

These include preventing identify theft, making sure that there are no credit bureau errors, and to ensure that creditors made no errors when reporting to the bureaus. 

 

• Reduce paperwork. Sorting through files of paper statements and receipts make it harder for you to become organised.

 

Take advantage of technology and switch to paperless statements and make use of online banking to effectively reduce paperwork. Also, get rid of those paperworks that are more than 3 years old to make more room in your filing cabinet.