Skip to main content
United States flag An official website of the United States government
Alerts

Alerts

Español
MyCreditUnion.gov
Credit Union Locator (opens new window) | COVID-19 (opens new window)
Menu
Credit Union Locator (opens new window) | Español | COVID-19 (opens new window)

Main navigation

  • Consumer Assistance Center
    • Find An Answer
    • Complaint Process
    • Forms
    • Portal Log-in
    • Contact Us
    • Fraud Prevention Center
      • Fraud Resources
      • Frauds & Scams
      • Identity Theft
      • Online Security
    • Information for Credit Union Members in Areas Affected by Hurricanes
  • Share Insurance
    • Share Insurance Estimator
    • Share Insurance Publications
    • Share Insurance Videos
  • About Credit Unions
    • How is a Credit Union Different than a Bank?
    • Credit Union & Bank Interest Rate Comparison
    • Credit Union Products & Services
      • Checking & Credit Cards
      • Saving & Investing
      • Consumer Loans
      • Mortgages & Home Ownership
      • Direct Deposits & Withdrawals
      • Money Transfers
      • Online & Mobile Banking
      • Mobile Payments & Mobile Wallets
    • Find, Join or Start a Credit Union
    • Credit Unions in Schools
    • Low Income Credit Unions
    • Minority Depository Institutions
    • When a Credit Union Closes
  • Life Events
    • Financial Preparedness in a Disaster
    • Understanding Your Benefits
      • Understanding Open Enrollment Season and Employee Benefits
    • Car Buying & Ownership
      • Buying a Car
      • Buying a Used Car (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
      • Leasing a Car
      • Car Shopping Resources
      • Why Reading Disclosures is Important
    • Going to College
      • Cost of Education
      • Student Life
      • Student Loan Repayments to Resume in October 2023
    • Consumer Loans
      • Payday Loans
      • Payday Loan Alternatives
      • Personal Loans: Secured vs. Unsecured
      • Home Equity Loans & Lines of Credit
      • Credit Reports & Credit Scores
      • Understand Your Credit Card Statement
      • Equal Protection Under the Law
      • Why Reading Disclosures is Important
      • Rights for Servicemembers & their Dependents
      • Consumer Loan Calculators
      • Consumer Loan FAQs
    • Home Ownership
      • Buying a Home
      • Owning a Home
      • How to Challenge a Home Appraisal
      • Residential Property Appraisals
    • Checking & Credit Cards
      • Checking
      • Credit Cards
      • Electronic Banking
      • Protecting Your Financial Information
    • Dealing With Debt
      • Debt Consolidation Options
      • Paying Off Credit Cards
      • Credit Counseling & Debt Relief Services
      • Dealing With Debt Collectors
      • Debt Settlement & Debt Elimination Scams
    • Saving & Investing
      • Power of Dividends
      • 54 Ways to Save (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
      • Youth Savings Infographic
      • Planning for the Unexpected
      • Introduction to Investing (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
      • Investment Fraud Resources
    • Retirement
      • Retirement Planning
      • Types of Retirement Plans (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
      • Required Minimum Distributions (RMDs) (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
      • Social Security Benefits
      • Delayed Retirement & Second Careers
      • Civil Service Retirement (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
      • Avoiding Retirement Fraud (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
      • Retirement Estimator (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
    • Aging & Managing Finances
      • Considering a Financial Caregiver
      • Reverse Mortgages
      • Long Term Care
      • Prepaid Funerals
      • Funeral Services
      • Scams Targeting Older Adults
      • Preventing Elder Financial Abuse
      • Aging & Financial Decline: Early Warning Signs
      • Elder Abuse Roadmap: Financial (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
  • Financial Resources
    • Activities & Apps
      • Hit the Road
      • World of Cents
      • Money 101 Quiz
    • Become an IRS VITA Partner to Help in Your Community
    • Brochures & Publications
    • Calculators
    • Calendar of Events
      • America Saves Week
      • National Consumer Protection Week
      • Slam the Scam
      • Military Consumer Month
      • Federal Credit Union Act
      • Earned Income Tax Credit
      • Financial Spring Cleaning
      • Make a Difference Day
      • Financial Capability Month
      • Back to School
      • Tax Day
      • Tax Identity Theft Awareness Week
    • Consumer Tips
    • Cryptocurrency & Other Digital Assets
    • Servicemembers
      • Financial Readiness Resources for Servicemembers & Their Families
      • Financial Assistance
      • Rights for Servicemembers & their Dependents
    • Glossary
    • Graphics (opens new window)
    • Lesson Plans, Guides, and Other Financial Education Materials
    • Money 101
      • History of United States Currency
      • Understanding the Security Features of Money (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
      • What to Do if You Receive Counterfeit Money
      • Facts About United States Coins & Currency
    • Money Basics Guides
    • Personal Finance
      • Auto Loan Worksheet
      • Financial Goals
      • Protect Your Money With a Trusted Contact
    • Videos & Webinars

Financial Spring Cleaning

Banner

Breadcrumb

  1. Home
  2. > Financial Resources
  3. > Calendar of Events
  4. > Financial Spring Cleaning
Print
Share Facebook (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) Twitter (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
Open/Close Share Panel
Email (opens new window) Pinterest (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)

Financial Spring Cleaning Tips

1. Review Your Credit Report

By law, you're entitled to order one free credit report yearly from each of the three major credit bureaus. You can get yours at no cost from annualcreditreport.com. Make sure your credit reports are free of mistakes.  Under the Fair Credit Reporting Act, both the credit reporting agency and the information provider (that is, the person, company, or organization that provides information about you to a credit reporting agency) are responsible for correcting inaccurate or incomplete information in your report. To take advantage of all your rights under this law, contact the credit reporting agency and the information provider.

Unfortunately, the majority of adults in America don’t review their credit report yearly. 

Learn more about credit reports, credit scores and fixing credit report errors. 

2. Organize and/or Shred Old Financial Documents

Sort through your statements, pay stubs, bills and other financial records, and keep only the documents that are absolutely necessary. Since the IRS has up to six years to audit you, keep your tax returns, canceled checks and receipts, and any records supporting your tax deduction for at least six years. If you're unsure about whether you should get rid of certain types of receipts, scan them or make a copy, then go ahead and shred the rest. But don't simply toss paperwork in the trash. Leaving important documents in the trash without properly shredding them is a bad idea. They are just waiting to be picked up by an identity thief.

Reducing paper clutter will not only help you stay more organized, it will also put your mind at ease. Plus, since the IRS accepts scanned copies of receipts, having those records available could come in handy in the event of an audit.

Contact your local credit union (opens new window) to find out if they host an annual shred day or event.

3. Record Your Financial Passwords and Store Records in a Safe Place

Make sure you're not using the same password and log in information for all your online bank accounts and other financial accounts. Even though you might be logging in over a secure Internet connection, there's still a risk that someone who figures out your password will attempt to access other accounts with the same log in information.

Protect yourself against identity theft by logging your financial passwords in a password protected or encrypted document and storing it in a safe place. Also, important financial documents like a will, stocks certificates or bonds should be put in a safe place like a locked box or an online secure vault.To learn more about preventing identity theft, click here.

4. Review your Budget

Is your budget up to date? Have you incorporated any increases or decreases in your income? Take a close look at your budget to see if you need to make any modifications. Make sure you're reporting expenses accurately and have made some room for savings account contributions. Use a Personal Budget Worksheet to help organize your finances.

5. Set up Automatic Bill Pay

Spring cleaning isn't only about de-cluttering - it's also about making things more efficient. Set up automatic bill pay, and link it to your primary checking account. Automatic bill pay will eliminate the chances of missing a payment and paying those pesky late fees.

6. Pay off Holiday Debt Once and for All

What does your current debt load look like? Spring is a good time to look at your total outstanding debts and see which loans or credit cards you could pay off entirely this year. At the very least, put yourself on a stricter debt payoff plan, and pay off any debt you accumulated over the holidays. Cleaning up this debt quickly can put you in a much better financial position for the rest of the year.
 

Related Resources

  • Fraud Prevention Center
  • NCUA Consumer Assistance Center
  • Financial Literacy Calendar of Events
Last updated on 02/10/23
My Life. My Money. My Future.
YouTube (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) Facebook (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) Twitter (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) LinkedIn (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
NCUA Logo

Official website of the
National Credit Union Administration

(opens new window)

Footer Menu

  • About NCUA (opens new window)
  • Open Government (opens new window)
  • Contact Us
  • USA.gov (opens new window)
  • Site map
  • Office of Consumer Financial Protection
  • Freedom of Information Act (opens new window)
  • Privacy Policy (opens new window)
  • Accessibility (opens new window)