Spring Cleaning Your Finances


Spring is that wonderful time of year where we can open the windows and get that much needed fresh air.  Our flowers start to bloom and we know the warm days of summer will be here soon.  Many people use this time of year to “Spring Clean” their home.  I would suggest it is just as important to “Spring Clean” your finances.

What do I mean?  If you were not able to review your finances this winter then don’t procrastinate.  I meet with many people throughout the year and many of them do not have wills, their spouse does not know passwords to their accounts, and they have no idea where their valuable documents are located.  What would happen if you were to pass away or become disabled?  Would your family know where the important documents were located?

Here are a few tips we suggest:

  • Get that will, power of attorney and medical directive taken care of today. Review these documents if it has been some time since you had these documents written.
  • Make an inventory of your safe deposit box and/or firebox in your home so you know where important documents are located.
  • Make a spreadsheet or list of your assets, credit cards, mortgage information, bank accounts, insurance policies, retirement accounts and other investments. Be specific and record account numbers, beneficiaries, values, amounts of insurance, and ownership.  Be careful to store this information in a secure location.  Keep a copy away from your home in the event you have a fire.  (Don’t forget your employer provided group benefits)
  • Backup pictures and take an inventory of your home. Use the video camera on your phone to take pictures of the outside and inside of your home.  This video will prove very valuable if your ever have a fire loss.
  • Consider meeting with an attorney, financial planner, and your insurance agent.

Spencer Insurance Agency is here to help you.  If you don’t know an attorney or financial planner, we can suggest professionals whom we have worked with and trust.  Call us for a complete insurance review of all your policies including, home, auto, umbrella, disability, life, and long term care.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Scroll to Top
Skip to content