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Spring is the perfect time for cleaning, and not just for your closet. As the seasons change, it's also a great opportunity to take a closer look at your finances and your goals.
To help break it all down, "Good Morning America" spoke with Chelsea Ransom-Cooper, CERTIFIED FINANCIAL PLANNER® professional and co-founder and chief financial planning officer at Zenith Wealth Partners, who shared practical tips to help you refresh your financial habits this season.
From cutting unnecessary expenses to building smarter saving habits, here are 10 ways to give your finances a fresh start.
Find your CFP® professional at LetsMakeAPlan.org.
Automate your savings and investments: Take the guesswork out of saving by setting up automatic contributions to your retirement and investment accounts. Whether it's your 401(k), IRA or HSA, automating transfers helps you stay consistent and removes the temptation to skip a contribution.
Review your subscriptions: Monthly subscriptions can quietly add up. Go through your bank and credit card statements and cancel anything you're no longer using. Even a few small cuts can free up extra cash each month.
Check your credit report: You're entitled to a free credit report annually at AnnualCreditReport.com. Reviewing it can help you spot errors, catch fraudulent activity and ensure your credit is in good shape before making major financial decisions.
Plan ahead for summer spending: From vacations to concerts, summer expenses can sneak up quickly. Creating a dedicated savings fund now can help you enjoy the season without relying on credit cards or dipping into emergency savings.
Revisit your emergency fund: Financial planners typically recommend saving three to six months' worth of expenses. If that feels out of reach, start small. Even one month of expenses can provide a helpful cushion for unexpected costs.
Try the seven-day rule for large purchases: Before making a big, nonessential purchase, give yourself a week to think it over. This pause can help you avoid impulse spending and ensure the purchase aligns with your financial goals.
Make a plan for bonuses or tax refunds: If you receive a bonus or tax refund this year, consider using it intentionally. You might allocate a portion toward something meaningful while putting the rest toward savings, investments or paying down debt.
Update your beneficiaries: Life changes such as marriages, new children or other major milestones can impact your financial plans. Take a few minutes to review and update beneficiaries on your accounts to ensure everything is current.
Adjust your tax withholding: A large tax refund or bill could be a sign that your withholding needs adjusting. Updating your W-4 can help you better balance your take-home pay throughout the year.
Review your investment strategy: If you haven't checked in on your investments recently, now is a good time. Make sure your portfolio still aligns with your goals and risk tolerance, and consider rebalancing if needed.
Taking time to spring-clean your finances can help you feel more organized, confident and prepared for what's ahead. And the best part? You don't need to overhaul everything overnight -- one small step now can lead to meaningful progress over time.
