Survey finds 85% of Americans will be spring cleaning this year: 4 ways to spring clean your finances

Rebecca Gramuglia

Special to the Village News

With spring starting this week, it’s time to deep clean your home – and your finances.

According to a recent survey conducted by TopCashback.com, 49% of Americans say their finances could use some spring cleaning.

The survey polled a cross-section of 3,103 adults, aged 18 and over.

Feeling fresh

What are your main reasons for spring cleaning? (choose 3 maximum) [top five responses]

● To declutter (80%)

● To avoid allergies/feel healthier (48%)

● To feel happy (42%)

● To reduce stress (39%)

● To increase productivity (19%)

What are your biggest spring cleaning challenges? (select all that apply) [top five responses]

● Finding the time to clean (54%)

● The physical effort needed to clean (48%)

● Lack of personal motivation to clean (45%)

● I don’t know where to start! (37%)

● Getting everyone in my household to help clean (29%)

How much will you spend on cleaning/organizing necessities this year?

● $11 to $50 (38%)

● $51 to $100 (32%)

● $101 to $200 (13%)

● More than $201 (9%)

● Less than $10 (8%)

Who is responsible for making the most mess in the home? [top five responses]

● Myself (31%)

● My children (28%)

● My spouse/significant other (20%)

● My pet (10%)

● My extended family/guests (6%)

Financial fresh start

Aside from your home, which other areas of your life could use some spring cleaning? (Select all that apply) [top five responses]

● Finances (49%)

● Social media accounts (36%)

● Career (26%)

● Family (25%)

● Friendships (25%)

Do you use spring cleaning as a time to hit the reset button on your finances and start fresh (ex: budgeting, saving, etc.)?

● No (64%)

● Yes (36%)

Whether you’re continuing to spring clean your finances or only beginning to do so, here are four tips from TopCashback.com.

● Stay organized. There are plenty of ways you can organize your finances, such as setting up savings accounts and regularly reviewing your budget. To ensure you’re saving money, opt to automatically transfer a portion of your paycheck into a savings account. By taking this extra step, you can reduce the temptation of overspending.

○ Pro-tip: When it comes to recurring charges, like rent, utility bills or streaming subscriptions, it’s helpful to separate them from your regular shopping. For example, you may choose to dedicate one of your credit cards to pay for subscription charges; or set up a savings account specifically for your rent and utility bills.

● Use your rewards. Review any rewards programs you take part in, whether it’s cash back from your credit card or an accrued amount of points for a store’s loyalty program. See if you have any current use for these rewards, such as paying off your credit card bill with earned cash back. Some credit cards have expiration dates on their rewards, so be sure to review the terms of your program. Coupons and loyalty points for specific stores may also expire, so it’s helpful to keep track of them on a regular basis.

● Review your money habits. Ask yourself a few questions to determine what you’re doing well and what you can improve on such as, “how many times did I go over budget this year?” and, “do I buy full-priced items before looking for discounts?” By assessing yourself in this way, you can pinpoint which areas need improvement and plan to update your financial priorities for the year.

○ Pro-tip: Get into the habit of stacking coupons and deals with a cash back site, like TopCashback.com. You’ll earn the highest percentage available of your money back on all qualifying online purchases from over 4,000 stores; plus it’s free to join, free to use and there are no minimum payout requirements.

● Stock up and shop bulk. Buying items in bulk can be a good deal as long as you use the product. Research the options available and calculate the cost per unit to find out which is the better deal. If you know you’ll be using the items throughout the year, it makes sense to buy in bulk now to save money in the long run.

○ Pro-tip: Steer clear of buying items in bulk if they have an expiration date that’s less than six months away, unless you know you’ll use them within that time frame.

Rebecca Gramuglia is a consumer expert at TopCashback.com.