Spring Clean Your Finances: A Practical Checklist
Spring is in the air—and it’s the perfect time to not just clean out your closets, but also to organize your finances. A financial spring cleaning helps you take stock of where you are, make smart updates, and set a clear course for the rest of the year. This checklist will walk you through simple yet essential steps to review your savings, rebalance your retirement accounts, update your documents, and much more.
We’ve put together a financial spring-cleaning checklist to help you get started. We’re here to assist you every step of the way so reach out if you have any questions.
Why Use a Financial Spring-Cleaning Checklist?
Just as you would use a checklist for travel or home projects, a financial checklist ensures that nothing important gets overlooked. Spring is an ideal time to pause, reevaluate, and realign your financial goals. Whether you’re preparing for retirement or simply want more peace of mind, these steps can help you stay on track.
Step-by-Step Financial Spring-Cleaning Checklist
Maximize Your IRA Contributions
If you have an IRA, contribute the maximum amount to take advantage of tax benefits and long-term growth. For the 2024 tax year:
- The contribution limit is $7,000if you’re under 50.
- If you’re 50 or older, you can contribute up to $8,000.
Review and Rebalance Your 401(k)
Revisit your retirement account and check your 401(k) performance to ensure it’s aligned with your current goals. (If you’re a Cornerstone client, we work closely with you to review and rebalance your 401(k) to help ensure your retirement plan stays on track.)
- Are you contributing enough to get the full employer match?
- Is your asset allocation still appropriate?
- Does your investment strategymatch your risk tolerance?
- Do you need to rebalance to maintain diversification?
Evaluate Your Investment Portfolio
If you’re a Cornerstone client, you know that investments aren’t “set it and forget it” – it’s one of the things we review during your regular strategy sessions.
If you’re not a Cornerstone client, to assess your investment portfolio we recommend asking yourself the following:
- Are my returns helping me move closer to retirement or other financial milestones?
- Do my investments match my risk tolerance and reflect my stage of life?
- Are my returns in line with expectations?
Analyze Your Cash Flow and Monthly Expenses
Understanding where your money is going is a key step to organizing your financing and getting clarity.
- Recurring monthly expenses—which ones can you cut or reduce?
- Review large, long-term financial commitments like mortgage or tuition. Are there ways to adjust for greater savings?
- Extra cash flow—how can you allocate it toward retirement or investments?

Not sure how to estimate what you’re expenses will be in retirement? Read 5 Steps to Estimate Retirement Income Needs
Use Your Tax Refund Wisely
If you’re receiving a tax refund, decide how to use it strategically:
- Pay down debt to save on interest payments.
- Boost your emergency fund or retirement savings.
- Invest in areas that align with your long-term goals.
Organize Your Estate Planning Documents
Having your estate documents in order is a true act of love for your family. Ensuring your will, power of attorney, and medical directives are up-to-date and accessible goes a long way to reduces stress during challenging times.
- Will and estate plan
- Power of attorney
- Advance medical directives
- Letters of instructions
- Other critical documents

Download our Important Documents Checklist for help organizing your vital personal, health, and financial information – In Case of Emergency: Organize Your Vital Info
Review Insurance Coverage
(If you’re a Cornerstone client, we regularly during your insurance coverage during your strategy session as one of the five essential areas of comprehensive financial planning.)
Life is full of surprises, and having adequate insurance coverage can provide a safety net. Make sure your policies reflect your current needs:
- Does your life insurance align with your family’s current needs?
- Are you adequately covered by disability and/or long-term care insurance?
- Do your home and auto policies provide sufficient protection?
Check Your Credit Report for Errors and Fraud
Regularly checking your credit report helps you catch errors or signs of identity theft early. Check for:
- Look for unfamiliar accounts or inquiries—these may indicate identity theft.
- Be careful of hard inquiries—businesses checking your credit for loan applications (these can impact your score for up to two years).

Learn more about identity theft in these resources:
Reevaluate Your Financial Goals
Financial priorities shift over time, so take a moment to:
- Identify new goals based on life changes, write them down.
- Reassess older goals – are they still relevant? How can you move them forward?
- Adjust your savings and investment plan accordingly.
Starting with Organized Finances
Spring cleaning your finances may not be the most exciting task, but it’s one of the most rewarding. Just like living in a clean and organized home feels great, having your finances in order brings clarity and confidence.
By taking a few practical steps each spring, you position yourself for a more secure and stress-free financial future. Our team is here to guide you every step of the way.
Here’s to a fresh start and a prosperous future—happy spring cleaning!
Complimentary Client Shredding
The Month of May in Both Offices:
M-Th 8am – 5pm
Fri 8am – 3pm
As a value-added service for our clients, you’re always welcome to bring in paper documents for shredding – no appointment needed. It’s one of the many ways we aim to make managing your financial life easier.
We also place secure shred bins in our lobbies during May and October, making those ideal times to clear out larger quantities.
What can be shredded:
√ Paper documents (paper clips and staples are okay)
× No binder clips, three-ring binders, CDs, DVDs, or other electronic media.
Not a Cornerstone Client?
Let’s build a plan that fits your goals—schedule a strategy session with our team today!
Sioux Falls: 605-357-8553
Huron: 605-352-9490
Email cfsteam@mycfsgroup.com
CSP #769688 Exp. 4.10.26