CFO Corner Week 7: Financial Account Spring Cleaning
- liveyourmoneystyle
- 1 day ago
- 2 min read
Updated: 10 hours ago
Most of us have more financial accounts than we need. Old checking accounts from college. A savings account at a bank you haven't used in years. Multiple 401(k)s from previous jobs scattered across different employers.
These accounts create mental clutter, make it harder to see your full financial picture, and can cost you in forgotten fees or suboptimal investment strategies.
In this episode, we're doing some financial spring cleaning - and we're doing it now, while you're already thinking about money during tax season, so you can move into the rest of the year with a clearer financial picture.
What You'll Do in This Episode About Spring Cleaning Your Finances:
Create a Complete Account Inventory You'll list every financial account you have - checking, savings, retirement accounts, investment accounts, credit cards, HSAs, and anything else that holds your money. This is about getting the full picture, not judgment.
Identify What Needs Attention Which accounts are you not using at all? Which old 401(k)s are sitting with previous employers? Do you have duplicate accounts doing the same job? We'll help you spot what needs to be addressed.
Make a Simple Action Plan You'll choose 1-2 accounts to tackle first and write down your very next step - not the whole process, just the immediate next action. Then you'll give yourself a real deadline.
Why This Matters:
Fewer accounts mean easier money management. You can see your full financial picture more clearly, make better investment decisions when your retirement accounts are consolidated, and eliminate the mental burden of wondering where all your money is.
Important Note: You're not closing or transferring anything today. Today is just about clarity. The execution happens over the next few weeks, one step at a time.
