A Guide to Spring Cleaning: Finance Edition

Spring is in the air! And when March rolls around, we roll up our sleeves and start tackling the clutter that’s accumulated over the year. It’s a great habit to help you stay organized, but somewhere between cleaning the floorboards and defrosting the freezer, one corner of our lives often gets overlooked—finances. And why shouldn’t they fall under “spring cleaning”, too? It can help you make the most of your budget, catch unintended expenses, and generally set yourself up for a brighter financial future. So, we put together some quick and easy tips to help you find a fresh perspective on all things finance.

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1. Organize your financial documents

Start by categorizing important documents like bank statements, bills, insurance policies, and investment summaries. Then implement a system for storing physical and digital documents for easy access. It may seem like a small thing, but clearly labelled folders can go a long way in ensuring easy access to your documents.

2. Evaluate your savings goals

An emergency fund is a must-have, so it’s a good idea to start there. You’ll often hear you should have enough to cover 3+ months of living expenses. This probably isn’t a small number, so to avoid getting overwhelmed, you can start by putting aside $1,000 and working toward that goal over time. Maybe your expenses have changed since the last time you looked at your funds. It’s also important to evaluate your progress towards short-term goals (like a weekend getaway) and long-term savings goals (think bigger, like home renovations). The PC Money™ Account optional savings feature can help keep you on track. Our best everyday interest rate (opens in a new window) was designed to offer you long-term value, so you can plan on consistently building toward your goals. Plus, with no minimum time commitment, you can access your savings any time you need to.

3. Review and refresh your budget

Taking a closer look at your income and expenses can help you identify areas of improvement and create a realistic budget that aligns with your goals. Try the PC Financial® app (opens in a new window) for help tracking all the spending you do with your PC Financial® cards.

4. Track your subscriptions

Whether your taste has changed, or you forgot to cancel after a trial period, nobody wants to pay for something they don’t use. Subscriptions can add up and easily go unnoticed, so make a list and prioritize which ones you can cancel that might be making you go over budget. And when you pay for subscriptions with your PC® Mastercard®, you earn 1% back in PC Optimum™ points¹.

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5. Tackle debt and improve credit

Prioritize debt and your credit score. Trying to save or invest with high-interest debt is like filling a bucket with a hole in it. Even if you pour lots of water in, it’s going to leak out. To patch up the leak (paying down your balance), you can start by creating a list of all debts, including interest rates and minimum payments. Then add it as an expense within your budget so paying it down becomes routine. There are a number of different approaches to paying down debt, including the snowball or avalanche methods, that you can look into.

6. Clean up your financial habits

We’ve all been in “treat yourself” mode, but it can lead to negative spending habits. Once you identify those habits, try replacing them with ones that still reward you, without holding you back. For example, get those shoes on your mood board, but do it when you can afford to pay the balance, and make it a reward for a winning streak of positive financial decisions. Don’t forget, you earn points on every purchase¹ you make with your PC Financial® cards, helping you get more value out of each dollar.

7. Look for maximum value

Deals are all around you. Look for both printed and digital offers to help you stretch every dollar.And if you prefer paying with credit, a PC® Mastercard® could be right for you (opens in a new window), offering exceptional rewards on essentials like groceries, gas², health and beauty, and more. There are over 4,500 locations³ across Canada, where you can easily redeem⁴ your points for rewards.

8. Follow your progress

Regularly track your progress to stay motivated, celebrate wins, and adjust your plan, if needed. Some people find visualization helps (charts, graphs or apps). And most importantly, stay flexible—life happens! Don’t be too hard on yourself when you have to adjust your goals. Remember, you’re doing this for your own good.

Just like your home benefits from a good spring cleaning, so do your finances. These handy tips can help you reach your goals, feel better about your spending, and make you feel more confident in how you manage your money. So, get ready to dust off those bank statements, toss out any bad habits, and set yourself up for the financial future you want.