7 Spring Cleaning Moves for Your Finances

Spruce up your budget, scrub your spending habits and other ways to get your financial house in order

Donna Fuscaldo,

Updated April 27, 2026

AARP

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En español

Updated April 27, 2026

a calculator on a pile of financial records and cards

Sarah Rogers (Source: Getty Images (3))

Forget cleaning out the closet, scrubbing the floors and washing the windows. The start of spring is an even better time to get your finances in order.

“One thing on many people’s minds is cleaning. But what if you put that cleaning energy to your financial house?” says Andrea Woroch, a consumer savings adviser in Bakersfield, California. Spring, she says, is “a good time to focus on refreshing your spending and saving habits.”That’s particularly true of people nearing or entering retirement. On average, retirees live on 60 percent of their preretirement income, according to research from Goldman Sachs Asset Management. And in adults 65 and older, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income, according to the Social Security Administration.

Whether you’re on a fixed income, have cash in the bank or are still working, a financial spring cleaning can help you save money, reset your priorities and get you closer to your short- and long-term goals.

1. Spruce up your budget

“First and foremost, it’s a good time of year to take a fresh look at your budget and see how you’ve been doing during the first quarter,” says Emily Irwin, head of private wealth planning for Wells Fargo Advisors. Assessing your budget means taking a realistic and detailed look at your spending patterns and identifying areas to cut expenses.

If you need help creating a budget, there are free resources available to older adults, including AARP’s Home Budget Calculator; the National Foundation for Credit Counseling, which offers free access to NFCC Certified Counselors; and the Federal Trade Commission’s website, which has a budget sheet as well as free educational material covering different money matters.

2. Tackle credit card debt

Nearly half of Americans age 50-plus have credit card debt, according to a recent AARP survey. The study also found that 48 percent of older adults who carry a balance from month to month owe $5,000 or more, and 28 percent carry a balance of $10,000 or more.

To get out of a hole, experts say to apply any windfalls, such as a tax refund, to the debt. Also, try to pay more than the minimum whenever possible. Many financial planners recommend tackling the debt with the highest interest rate first, but if you need a quick psychological win, paying off the one with a smaller balance may be the better option. “Know yourself a little bit to keep the path moving forward,” says Irwin.

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If you can’t throw extra money at your credit card debt, try negotiating your interest rate with the credit card provider. All it takes is a phone call, says Woroch. A 2025 Lending Tree study found that among credit card holders who requested a lower interest rate, 83 percent got it.

Another option is to move your current debt to a card that offers a zero percent balance transfer. The longer the payback, the better. But make sure you aren’t getting stuck with a lot of fees that won’t make it worthwhile.

3. Tweak your taxes

If you were hit with a big tax bill or received a paltry refund this tax season, it may be a good time to check your tax status, says Irwin. You want to fix it now so you aren’t in for any shocks next year.

“Did you withhold too much?” says Irwin. “If so, adjust it.... Did you withhold less and now you are in a position where you owe money?”

If you want to adjust your W-4 filing status, you can complete this form and submit it to your employer. If you want to change the withholding from a pension, annuity or IRA, use this form.

4. Check for hidden bank fees

From account maintenance to overdraft protection, bank fees can add up. To ensure you aren’t on the hook for unexpected expenses, do a deep dive of your accounts. Look at the monthly and annual fees, the annual percentage rate and any other costs the financial institution may tack on. If you spot any hidden fees, ask your bank to waive them, or see if they offer a no-fee checking account. If not, Woroch suggests shopping around for a better deal. “There are a variety of no-fee debit cards that provide free overdraft protection and free withdrawals,” she says.

Moving your savings also makes sense if you can get a better rate at a different financial institution, she says. In early April, the best high-yield savings accounts on DepositAccounts.com offered interest rates of around 4.1 percent, which amounts to interest of $410 a year on $10,000.

5. Flush your credit card points

Now is the time to take stock and see if you have accumulated credit card reward points that have gone unused.

Shop your insurance policies

Don’t forget to review your home, auto and life insurance policies to tidy up. That’s particularly important for car insurance, where the average cost of full-coverage insurance reached $2,697 in 2026, a Bankrate survey found. “It’s so common to set it and forget it,” says Irwin. Look at your coverage, deductible and premiums, and then shop around. There may be something better out there that can save you money or give you more coverage.

If you aren't bundling your insurance policies, consider doing it. Many insurance companies offer discounts to customers who purchase more than one policy.

You never know — you may have enough to pay for a trip. Even if you aren’t traveling, those points can be redeemed for cash, a statement balance, a gift card or a host of other rewards. “This time of year, I’m looking at my credit card points and my hotel points and thinking about what travel I’m going to do next year, and how I can use these points to decrease out-of-pocket costs,” says Irwin.

6. Scrub your spending

If you are a shopper who can’t resist a sale, there are ways to curb your bad spending habits and save. “Out of sight, out of mind” is one strategy, especially if you are prone to overspending online. Unsubscribe from your favorite store newsletters, delete retailer apps and avoid malls where you may be tempted to drop in on a favorite store, Woroch says. When it comes to the everyday items you have to buy, Woroch says to shop savvy: Look for deals, use coupons, take advantage of cash-back tools and consider purchasing used items when it makes sense.

7. Trash your old paperwork

Take the time to get rid of old documents. It’s an easy way to get organized and prepare for a fresh start. But take care to hold on to real estate records for as long as you own your property, and keep most tax records for up to three years from filing, Woroch says. When you do dispose of financial records, make sure to shred bank and credit card statements and anything with identifying information, such as your Social Security number. Identity theft and financial fraud impacts millions of older adults per year, and some of it stems from what fraudsters find in the mailbox and garbage. “Anything that has your Social Security number, date of birth or account numbers should be shredded,” says Irwin. “Shredding is super necessary to protect from fraud and ID theft.”

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Donna Fuscaldo is a contributing writer and editor focusing on personal finance and health. She has spent over two decades writing and covering news for several national publications including The Wall Street Journal, Forbes, Investopedia and HerMoney.