The flowers and trees are blooming, the birds are chirping, and the days are getting longer – all signs that spring has arrived! Spring suggests fresh starts and new beginnings, why not start this spring with greater financial well-being??
Finances collect ‘clutter’ in the same way junk drawers attract take-out menus, expired coupons, and random other things that are no longer needed. Spring is a great time to take a peek in that drawer and see if there are things that are no longer serving you, that you can eliminate or reduce. We are talking about the theoretical ‘financial drawer’ here, though if your house is anything like mine, the physical drawer could probably use a good cleanse too!
Here are a few ideas to get you started:
- Streaming Services?– One streaming service a month will not break your budget, but with free trials and promotions, it is easy to accumulate several subscriptions. These can quickly add up to over €300 a year! Consider dropping down to just one streaming provider a month and then switching providers as new shows become available that interest you.?
- Investments?– Portfolios can accumulate investments, and if not revisited from time to time, they can become out of balance. Is it time to re-balance your portfolio? This can involve selling both the winners and some of the losers. Surprisingly, humans often resist selling a losing stock; it is very normal to hope with optimism that in time it will recover and be profitable. Instead of waiting for that to happen, consider selling the stock to better invest the money elsewhere, like in a winning position that generates gains! Questions about portfolio rebalancing? Contact us at PACEUPinvest? we are here to help!
- Vehicles?– Car ownership can be expensive, especially given the cost of petrol these days. Even if you don’t drive very often, there are still maintenance costs to consider. Is there an opportunity for your family to down-size from two cars to one, or own a smaller, more fuel-efficient, or electric vehicle? Now that employers are more open to employees working from home, perhaps that gives your family some transportation flexibility too! If selling a car does not make sense for you, maybe you can take advantage of the nicer weather to walk and ride a bike to save on petrol costs or take public transportation.
