By Ralene Grobler, Financial Adviser at Momentum Financial Planning
Spring cleaning isn’t only for your cupboards and shelves. Your finances deserve the same seasonal refresh. Over time, life changes—new jobs, children, unexpected expenses, or shifts in the economy—can leave your once-clear financial plan outdated.
Without a check-in, you risk “financial drift,” where your money no longer aligns with your goals.
The solution? A simple five-step reset to get your financial life back in order.
Step 1: Declutter Your Budget
Start by combing through your last few months of bank and credit card statements. Spot sneaky subscriptions you’ve forgotten, unnecessary insurance extras, or impulse buys that quietly add up. Cancelling unused services and cutting financial “clutter” can free up funds for savings, investments, or paying off debt.
Step 2: Dust Off Your Debts
Ignoring debt only makes it heavier. Take stock of what you owe—especially high-interest loans or credit cards—and prioritise repayments. Consider consolidation to simplify your payments and reduce interest. Don’t forget to check your credit report for accuracy and opportunities to improve your credit score.
Step 3: Reassess Your Goals
Your financial goals should evolve as life does. Revisit your priorities: are you saving for retirement, a home, travel, or education? Write them down, rank them by importance, and make sure your financial plan supports the life you want now—not just the one you envisioned years ago.
Step 4: Check Your Protection and Investments
Think of this as sealing cracks in your financial foundation. Review life and short-term insurance policies to make sure they still suit your family’s needs. Then, reassess your investments—do they still reflect your risk appetite and long-term goals? A quick review today can prevent bigger financial problems tomorrow.
Step 5: Schedule a Professional Check-In
Finally, just like you’d call in experts for a deep clean, bring in a financial adviser. Professionals can highlight opportunities you may have missed, tailor advice to your situation, and keep you accountable. A financial check-in ensures your plan remains strong and future-ready.
The Fresh Start Effect
Just as a spotless home creates peace of mind, a refreshed financial plan provides clarity and confidence. By decluttering, reassessing, and protecting your money, you create space for growth, resilience, and new possibilities.
