It's Financial Spring Cleaning Season!

Mar 21, 2018

Spring has sprung, or at least it has according to the calendar, and that means it’s time for a spring clean! The typical list looks something like this: crack open windows, dust off the furniture, go through the closet, and start planning the annual garage sale. One more thing we challenge your clients to add to their spring cleaning task list is a financial revamp. We’re not talking about an overbearing overhaul, we’re talking 4 simple tasks that can make your clients feel more comfortable, prepared, and organized for their future!

1. Revisit the budget. March is a great time to revisit a budget; a few months after the holiday’s and not long before the summer electric bill scaries hit. The Pie Budgeting Method, 50% fixed costs, 30% flexible spending, and 20% financial goals, is a great way to visualize where all the money is going and prepare for the future.

2. Audit Credit Reports. According to the Federal Trade Commission 1 in 5 consumers may have an error in their credit file. These errors can make consumers look riskier than they are and thus, hurt their chances of getting a good rate on a loan, a low insurance premium, or even a job promotion. Send your clients to for a free credit report. This report comes once a year, and when or if errors are found, your clients can dispute them.

3. Check the beneficiaries on any retirement accounts. Let’s say your clients ex-spouse is listed as the beneficiary on a life insurance policy, but their will states that everything should be given to the current spouse. Regardless of what the will states, the life insurance policy trumps the will, and the ex-spouse will receive the death benefit.

4. Get a life insurance checkup! Life changing events such as marriage or the birth of a child are times when life insurance policies should be revisited. Another life changing event like leading a healthier lifestyle can result in lower premiums. Make sure your clients have enough life insurance to cover their loved ones and at the right price!

Don’t let the season pass before you remind your clients to spring clean their finances. Not only will they benefit from the process, but they’ll also appreciate the effort you put forth for their best interests! For more ways to provide your clients with the financial assistance they’re looking for, give Brokers Alliance a call at 480.296.0169.

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Category: Life Insurance

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