Washington County Weekend Post

The spring season brings warmer days and a fresh perspective, which is why it's the ideal time to declutter and get organized. This includes taking stock of what we have, clearing out the unnecessary items in our possession and cleansing our spaces. We feel refreshed and empowered after a good sweeping. In addition to the closet overhaul and pantry refresh, there's one major area of our everyday lives we tend to overlook during this time: our finances. According to Amanda Clay- man, financial therapist and Prudential's financial wellness advocate, tidying up our finances is the spring cleaning task that can make us feel more empowered than any- thing else on our list. Digging into our money is messy and complicated but, just like cleaning our home, it creates a feeling of revitalization and can benefit our mental health in the long run. Beyond this alone, spring cleaning our finances gets our money organized, helps us make better financial choices and improves our financial wellness overall. Amanda shares the following tips on spring cleaning your finances to start anew this season. 1. Declutter your inbox: Take some time to go through your inbox and unsubscribe from promotional emails that tempt you to spend on things you don't need. Not only will it help you save, but your inbox will stay satisfyingly clean moving forward! 2. Tidy up your subscrip- tions: Dive into your bank statements to review recurring subscription charges and reassess which ones you really need. You may be surprised to find subscriptions that you forgot about, which can waste money over time. 3. Minimize stress with automation: Alleviate some of the constant worry of paying monthly bills by automating payments for rent, credit cards, utilities, or any other recurring charge on your plate. This will also help to avoid late fee charges. While most of our homes can use a deep clean in the springtime, focusing on doing the same with our finances is vital to improve our overall well-being. Give your financial self a refresh for greater peace of mind through- out the seasons. For more information, advice and tools for investing in your financial wellness and establishing healthy financial habits, visit Prudential Financial. Declutter your finances this spring Losing a job can be devastat- ing. Even in a strong market, companies can go out of business or reduce payroll. Being let go can initially tug at one's pride, and after a layoff sets in, it may cause individu- als to start worrying for their financial futures. While many people can survive and may even enjoy a few weeks of rest and relax- ation after a job loss, financial concerns may surface soon thereafter. A 2017 GOBank- ingRates survey found that more than half of American adults have less than $1,000 in their savings accounts. Finan- cial planners typically advise people to have at least three month's worth of earnings socked away for emergency situations, like a medical issue or a job loss. Even though the survey also found more than a quarter (27 percent) of respondents have $10,000 or more saved, that might not be enough to survive a job loss for six months or more. These strategies can help professionals who recently found themselves out of work avoid financial difficulties. • Get references. Leave on amicable terms and ask your former employer for a refer- ence. You should not burn any bridges, as a good reference can be invaluable as you look for your next opportunity. • Live off of cash reserves first. Before cashing in invest- ments or retirement accounts, tap your emergency fund first. If you have any tangible assets, like an unused car or a boat sit- ting idle, sell these items for cash to tide you over. • Contact your credit card company. Many companies have programs designed to help customers facing finan- cial hardships. Reach out promptly to let them know you may be anticipating missed payments. It is better if you initiate contact rather than going into default. The same tactic can be used for mortgage or rent payments. • Assess your budget care- fully. You naturally will have to make concessions that impact finances, particularly as it pertains to spending. Cut back on non-necessities like dining out, gym member- ships, streaming subscrip- tions, and other luxuries. Avoid adding other new debt. • Apply for aid benefits. There may be government benefits, such as low-cost healthcare or food subsidies, that can help you get through financial difficulties until you get back on your feet. • Involve the entire family. It can be embarrassing to lose a job, but look to family for support. Children may not need to know every detail, but they can have a cursory awareness of family finances and understand they may have to cut back until Mom or Dad is working again. • Prioritize saving. Lightning may not strike twice, but plan ahead for another job loss by prioritizing savings in the future. A job loss can come as a shock. However, with level- headedness and smart plan- ning, many people can avoid dire financial situations in the wake of a layoff. GMTODAY.COM SUNDAY, APRIL 5, 2020 • WASHINGTON COUNTY POST • 3A AT ACE, WE'RE SERIOUS ABOUT PAINT #1964824 #1969146 • One-Coat Splatter Resistant Paint. • Excellent Scrubbability, Scuff and Mark Resistant. ACE ROYAL PAINT PRICES START AT $ 24 99 #1430081 #1431451 PRICES START AT $ 29 99 • Paint & Primer in One Can. • Premium Quality - Superior Coverge Ultra Smooth Finish. CLARK & KENSINGTON PAINT DARE TO COMPARE! WE'RE HERE TO SERVE YOU! SHOP IN-STORE, ONLINE OR WITH CURBSIDE PICKUP! WE FIX STORM WINDOWS & SCREENS! 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