It was once traditional to spring clean your home at this time of year, a tradition that few people adhere to these days.  Instead why not spring clean your spending?

What I am referring to is running a check on all the direct debits and standing orders that are coming out of your bank account.

You know how it is….  You get collared for a mere £5 pm to such and such charity, its only £5 after all.  Then another gets you and another…   Perhaps you think it a good idea to sign up to that boiler cover having forgot that you already have such cover elsewhere.  What about those small accident policies or that mortgage protection you are still paying after clearing your mortgage?

Are all the direct debits or standing orders really necessary?  Are they all still relevant to your circumstances?

Many of us are busy people and can be forgiven for not paying too much attention to this in our daily lives.

Whatever you do, don’t stop something important or something you might need….

I had a client in recently and we did such a spring clean.  A number of payments amounting to £340 per month was found to be going out of the bank account and he really did not know what it was for, paying for things that he does not need or are duplicated.  That was no less than 20% of his monthly income!!

So why not spring clean your monthly payments…