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Jordan Gibennus
Pierpont Communications
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jgibennus@piercom.com

Spring clean your finances, not just your home
MMI provides tips on how to spruce up your finances for spring

HOUSTON (March 13, 2007) – Spring is in the air, and for many, it signifies a time for deep cleaning.  In addition to washing your windows and cleaning out your garage, consider the shape of your family’s finances.  Spring is a great opportunity, between the rush of holiday planning and summer vacations, to take an honest look at your finances.
                  
The experts at Money Management International offer the following suggestions to help you breathe new life into your family’s financial future

• Tune up your budget.  ‘Budget’ is not a dirty word.  When you think of budgeting, picture yourself paying cash for a well-deserved vacation, helping your kids through college and living a comfortable retirement. Achieving these and other goals is possible; it’s not about how much you earn but what you do with what you earn.



• Clear out the clutter.  Take time to sort out the chaos.  Clearing out the clutter will make organizing your personal and financial records a whole lot easier.   For example, grocery receipts and other nondeductible expense receipts and statements can be destroyed after they have been recorded for budgeting purposes.  Don’t forget to delete unneeded financial files in your computer’s hard drive.



• Perform a credit check-up.  A clean credit report can be a valuable asset.  By visiting www.annualcreditreport.com, you can access one free credit report each year from each of the three major credit bureaus.  Check your reports carefully for accuracy and report any mistakes. As an added bonus, reviewing your reports is a great way to get a snapshot of your financial obligations. 



• Wipe out debt.  Debt can create a dreary financial picture.  Reducing your debt allows you the freedom to make smart future financial choices.  Start by focusing on your debt with the highest interest rate (never forgetting to make required payments to all debts.)  Once that account is paid off, apply that amount to the debt with the next highest interest rate.  If this task seems impossible, you might also consider paying off your smallest balance first.   Seeing quick progress is often a good motivator. 



• Polish up your paperwork.  Dust off those dated legal documents.  It pays to regularly review your will, living trust and durable power of attorney.  You should also review your insurance policies to assure that you have appropriate coverage.

Finally, don’t forget to revisit your financial plan several times throughout the year to make sure you are on track.  Common sense and flexibility are important keys to financial success.

About Money Management International
Money Management International (MMI) is a nonprofit, full-service credit-counseling agency, providing confidential financial guidance, financial education, counseling and debt management assistance to consumers since 1958.  MMI helps consumers trim their expenses, develop a spending plan and repay debts.  Counseling is available by appointment in branch offices and 24/7 by telephone and Internet.  Services are available in English or Spanish.  To learn more, call 800-762-2271 or visit www.moneymanagement.org.