Spring clean your finances (with radio ad)

Long version

Just as you might declutter your home each spring, your finances can benefit from an annual cleaning too. Taking time to organize your financial documents, review your accounts, and update important information can help you feel more in control and better prepared for whatever the year brings.

Start by gathering and organizing your tax documents. Even if you've already filed your 2025 tax return, creating a system to keep track of important documents throughout the year will make next tax season much easier. Set up a simple filing system—physical or digital—for receipts related to tax deductions, RRSP contribution receipts, charitable donation receipts, and investment account statements. Consider scanning paper documents and storing them securely in the cloud for easy access and backup.

Next, review and update your beneficiary designations on all registered accounts. This includes RRSPs, TFSAs, RESPs, life insurance policies, and pension plans. Life changes such as marriage, divorce, the birth of a child, or the death of a loved one should all trigger a beneficiary review. Keeping these designations current ensures your assets will be distributed according to your wishes and can help your loved ones avoid unnecessary delays and complications.

Take this opportunity to organize your important financial documents in one secure location. Create a list of all your financial accounts, including account numbers and contact information for each institution. Document your credit cards, insurance policies, and any outstanding loans. Make sure a trusted family member or executor knows where to find this information in case of emergency. Consider creating a simple spreadsheet or document that outlines your financial picture—it's a gift your loved ones will appreciate if they ever need to step in and help.

Spring is also an excellent time to review your automatic payments and subscriptions. We all accumulate subscriptions over time—streaming services, gym memberships, software subscriptions, and various other recurring charges. Review your bank and credit card statements for the past few months and identify any subscriptions you no longer use. Canceling just $20-30 worth of unused subscriptions can free up hundreds of dollars per year that could be redirected toward your financial goals.

Don't forget about proper document disposal. Old financial documents that you no longer need should be shredded, not simply thrown away. Generally, you should keep tax returns and supporting documents for at least six years, but most other financial documents can be safely destroyed after a few years. Check with your accountant or financial advisor if you're unsure how long to keep specific documents.

Finally, use this spring cleaning session to review your insurance coverage. Do you still have adequate life insurance? Is your home insurance coverage sufficient given any renovations or significant purchases? Have you reviewed your disability insurance lately? These aren't the most exciting topics, but ensuring you have proper protection is a crucial part of a solid financial foundation.

Spring cleaning your finances might not be as satisfying as organizing a closet, but the peace of mind it brings is well worth the effort. Set aside a few hours this spring to get your financial house in order—your future self will thank you.

This content was provided by Edward Jones for use by (FA's NAME), your Edward Jones financial advisor at (branch address or phone #).

Edward Jones, Member - Canadian Investor Protection Fund 

Number of words: 522

Short version (radio/print/online)

PSA: Spring clean your finances

Spring is the perfect time to organize your financial life and clear away clutter.

Start by organizing your tax documents and creating a filing system for important receipts. Review and update beneficiary designations on all your registered accounts—life changes like marriage, divorce, or a new child should trigger updates.

Create a master list of all your financial accounts with contact information and store it securely where a trusted person can find it if needed. Review your automatic payments and subscriptions—canceling unused services can free up hundreds of dollars annually.

Shred old financial documents you no longer need, but remember to keep tax returns for at least six years. Finally, review your insurance coverage to ensure you have adequate protection for life, home, and disability.

This content was provided by Edward Jones for use by (FA's NAME), your Edward Jones financial advisor at (branch address or phone #).

Edward Jones, Member - Canadian Investor Protection Fund

Number of words: 126 (excluding FA's name, address/phone number)