Spring clean your finances
Just like your closet or garage, your budget and finances can get cluttered over time. Spring’s the perfect excuse to shake off the dust, toss out what’s not working and make room for new financially healthy habits. And the good news is that you don’t need to give up an entire weekend or spend hours digging through numbers. A few simple steps is all it takes to get started.
Clean up old spending habits
Take a fresh look at how you’ve been spending money. Are you ordering takeout on days you planned to cook? Noticing a lot of “just this once” grocery store purchases? Even a little overspending here and there can quietly eat away at your budget. Take some time to review your transactions from last month. Sort them into “needs”, “wants” and “oops”. Needs stay. Wants get trimmed. Oops? Those could have been savings, so keep that in mind moving forward. Once you’re done, you’ll have what you need to build a simple budget that works with your personality and lifestyle.
Tidy debt dust bunnies
Debt happens. The trick is to choose a repayment strategy that feels manageable. Start by writing down what you owe and to whom. Then, for a quick motivating win, try the Avalanche method and focus on paying down the smallest balance. If you care more about saving on interest in the long term, use the Snowball method and focus on paying down the debt with the highest interest rate.
Clear out the filing cabinet
Still hanging on to old bills and bank statements? Switch to paperless billing (and save your filing cabinet for random craft supplies and old appliance instructions). Most banks and miscellaneous service providers let you sign up for digital statements and alerts, helping you stay organized and on top of your payment due dates.
Dig up those gift cards
Got a gift card hiding in your wallet or glovebox? Time to use it! Treat yourself to something small, or knock a few dollars off your next grocery or gas bill. You already have the money, why not make it work for you? Just make sure you check the expiry date and balance first to avoid any surprises.
Overhaul your subscriptions
Streaming services, random apps, a gym membership? How many are you actually using? Take a few minutes to scan your bank and credit card statements. Then take a quick look at your app store purchases. Cancel anything you don’t love or haven’t used in a while. Even small changes add up over time.
Turn clutter into cash
There could be money hiding all over your home. Got an exercise bike you don’t use (no shame), a blender collecting dust, or clothes you haven’t worn since 2020? There’s someone out there who wants it and may just be willing to pay you for it. These days, selling and trading old items is one of the simplest ways to make money online and can sometimes even be surprisingly profitable.
Fall in love with old favourites
If the previous tip led to you selling a lot of old clothes, it can be tempting to rush off and fill your now empty closet with the latest styles. But before you splurge on a new spring wardrobe, take a look at what you already have and those old favourites you chose to keep. Try pairing them in new ways. Chances are, you’ve got a few gems just waiting to make a comeback.
Fill up those jars
If there’s a little money left after paying your bills and groceries, drop it into a jar (real or virtual, your pick). It doesn’t have to be much. Think of a savings goal, like building an emergency fund. Speed doesn’t matter, watching your savings grow always feels satisfying.
Freshen up your goals
Spring is all about fresh starts. So why not set a new financial goal? Maybe you want to build up a $100 cushion, lower an outstanding balance or learn a new money skill. Start small, stay consistent and remember, you’ve got this. Progress is worth celebrating.
* If Quick Check pre-approves a card, you can be sure we’ll approve your application, except in limited circumstances. Some of the reasons we may not approve your application, among others, include:
a. There’s been a change in your credit file information, personal information or financial status from the time you receive your Quick Check results to the time you apply for one of our credit cards.
b. You’re not at least the age of majority in the province or territory you live in.
c. Your application is flagged for fraud prevention.
d. You have an existing Capital One account.
e. You’ve applied for a Capital One account in the last 30 days or had an account with us that was not in good standing in the last year. In good standing means not past due, over limit, fraudulent, restricted, or part of a consumer credit counselling program or bankruptcy.
In some cases, we may not be able to open an account for you even though your application was approved. This can happen if we’re unable to verify your identity, or you don’t provide the required security funds if you’re approved for a Secured Mastercard®.