BUFFALO, N.Y. (WKBW) — With high prices and inflation impacting so many families, 7 News is working to help you make ends meet.
We talk a lot about spring cleaning this time of year - but have you thought about a spring cleaning for your finances? Experts say that can really help you save some cash.
How long has it been since you sat down to look at your money going in compared to what's going out? Financial planners say a budget is a basic part of every financial plan, and can help give you a clear picture of what's happening.
"Just the act of doing a budget," explained financial advisor Sarah Blakenship. "Not even sticking to a budget. Just the act of looking at everything that's coming in and going out can save you some money right off the bat."
Blakenship, who works at Wilcox Financial Group, says the idea is to lay everything out so you find opportunities to save.
Here are some things to consider when you're looking at your finances this spring:
- Are there subscriptions you're still paying for that you don't use? Cancel them!
- Have you shopped out your car or homeowners insurance lately? You might be able to find lower price.
- When it comes to tax time - could you make a change that could impact you the rest of the year?
"Maybe it's withholding differently on your paycheck," explained Blakenship. "Maybe you're getting those huge tax returns but you could actually have more money in your pocket all throughout the year. Sometimes that's an option."
Blakenship also said there can be a misconception that financial planning is for the elite or wealthy, but it's really more of a road map to get people where they want to be financially.
