5 Ways to Spring Clean Your Finances and Declutter Your Business

In order to keep this site going (at no cost to you!) this guide may contain affiliate links.

Use these 5 simple steps to organize, spring clean finances and declutter your life as a business owner! Plus, learn more ways to save money by reducing monthly bills and organizing your home office.

A change of seasons means it’s time to spring clean finances and declutter your business. This is a super important task to do every year as it can help you find more efficient ways to get things done.

As tax season recently came to an end, you probably got a pretty up-close-and-personal look at your money.

I realized I’m paying waaaaaaay too much money in taxes (can you relate?). So I’ll be looking into forming a new business entity this year.

This makes springtime is the perfect time to analyze your finances and business systems for the upcoming year. You might not enjoy this process but it’s one of the quickest ways to become more productive and start loving your money again.

So, let’s get started! Here are 5 simple ways to spring clean finances and declutter your business today.

1. Strive for a paperless office

If you’re anything like me, you hate paperwork. I mean, it’s the bane of an OCD person’s existence. But sadly this is the way the world still works so we have to learn to successfully cope with it.

Start by streamlining your home office and cleaning up paperwork clutter. Here’s how to create a paperless work environment at home.

  • Organize papers into multiple piles – Limit the amount of piles into four main categories; trash, shred, scan, keep.
  • Tackle one pile at a time and handle accordingly – Multitasking too many piles of paperwork can be overwhelming. It can also make it easy to lose important documents.
  • Create an area for pending paperwork – Some papers need to gone through each week while others need to be saved for the future.
  • Save time by creating multiple types of folders – For example, put all insurance documents into one insurance folder and save all client contracts in a single client folder.
  • Purchase a small printer/scanner – Use a small home office printer (I use this Canon All-In-One scanner) and scan as much of your paperwork as possible. Make this a monthly task on your calendar!

Some important papers to keep include, tax returns and tax-related papers, contracts, new policies and investment statements.

Shred bank statements once the accounts are reconciled, and trash ATM and deposit receipts after verifying them. Don’t forget to toss any expired coupons or bills that are no longer valid.

2. Review your bank and checking accounts

How many checking and savings accounts do you have? Are they all still serving a purpose? Are any of them costing you fees?

I have 15+ checking and savings accounts for both business and personal needs. For me, this makes it much easier to track business income and expenses, so I have separate accounts for personal transactions.

Now’s a good time to review your bank and checking accounts. Make sure you’re getting the best value out of them. Do you need more or less for your financial goals?

Go through your accounts and evaluate if you need all of them. Or maybe you should open a few more online savings accounts to separate your goals. Remember to keep everything as streamlined and as simple as possible!

Related: The 5 best online savings accounts to stash your cash for free!

best way save money

3. Negotiate for lower interest rates

Currently in the United States, interest rates are still pretty low — at least for personal loans and mortgages. This is great for reducing interest paid on personal expenses as well as business transactions.

If you’ve been thinking of refinancing, or negotiating a better interest rate, now’s the time to do it. To start simply call up your loan company and ask about any promotional interest rate offers.

Next, call credit card company and request a lower rate on your card. If you have a good credit score, you should be able to negotiate a better interest rate. Then, if that doesn’t work try taking advantage of a credit card balance transfer promotion to save money. 

Finally, you can often get a lower rate by combining multiple loans or credit card balances into a personal loan. This streamlines multiple due dates from various accounts into a single payment each month.

Plus, you can often save a boat load of interest fees since most credit cards charge upwards of 20% or more! Yikes. But with a personal loan you can pay as little as 5% on your debt balances.

Check it out for yourself with a personal loan rate with SoFi!

4. Review your credit score

One way to know if your finances are in good standing is to review your credit score. Why? Financial companies, and even your landlord, look at your credit score as a barometer of your financial health.

The higher your score is the more financial stable you seem to appear. This means paying less interest on debt and getting approved for business financing.

You can check your credit report for free once-a-year via AnnualCreditReport.com. This is especially important for small business owners because you should be alerted to any fraudulent activity or errors as quickly as possible.

Every month, you can monitor your credit score for free by using a service like CreditKarma. Or a free FICO score may be included with your credit card benefits, so be sure to verify that.

small business finances

5. Lower business bills and policies

Some bills are set up on an annual basis, like car insurance policies and home/rental insurance, and only need to be reviewed a few times a year. Many other business expenses and subscriptions are the same way.

As you see recurring business bills and quarterly subscriptions come due, take this opportunity to negotiate for a lower price. Point out how long you’ve been a loyal customer, ask if the company has multiple discounts.

Or you can hire BillFixers to do this for you! They are a new startup that negotiates lower bills on your behalf (without changing your current plan). They helped negotiate a $220 savings on my internet bill!

And the best part is that you don’t have to pay a fee if they don’t find you savings. They only make money when you save money!

In the end, if you tried lowering your bills and the company isn’t open to a reduced rate, it’s time to research other options. There are many other services and companies available that will give you a better rate.

Click here to use BillFixers on your personal or business bills and watch the savings roll in.

How spring cleaning saves you money

As a business owner you work hard for your money. Because of this you want to spend your time and money wisely. Spring cleaning your finances and decluttering your business is key to achieving this!

Small changes and updates may seem insignificant, but they are very important. It only takes a few hours to update your bank accounts, streamline your home office and declutter your finances.

Plus, you can hire someone like BillFixers to negotiate your bills and lower your monthly expenses without the headache.

Organizing your business finances will help you stress less and get more done in less time. Now, you can take back in control of your work day and start seeing your desired results!