Tools for Success

Airing out the finances Coast Capital Savings

Winter is coming to an end and spring is in the air which means new beginnings. For many, it’s time for some serious spring cleaning. It isn’t just an exercise that’s good for your closet and home - this can be applied to your finances too.

Gather, purge and shred  

  • Bring all your documents – receipts, bills, any financial documents – into one place. While time consuming, this will help you with the next steps. 
  • ATM receipts should be kept for about a month, tax claims for six years, and bills, banking and investment statements should be kept for a year.
  • Shredding is the best way to dispose of documentation with personal information. Prevention is key to avoiding financial fraud.


  • When it comes to bills, we recommend separating them into ‘bills paid’, and ‘bills to be paid’.
  • Come up with categories covering all statements and bills – this will make it less overwhelming when it comes to locating them later on.

Consolidate and simplify

  • Now that you’ve cleaned things up, it’s time to take a look at where you stand financially – do you have a plan in place for debt repayment? How is your emergency fund looking? Are you contributing enough to your RRSPs?
  • Can you simplify and streamline? Opt for online statements, close unused accounts, consolidate multiple credit cards into one.

Financial spring cleaning is more than just organization, it’s ensuring that every dollar you have is working hard for you. Air out your finances and evaluate your financial goals from there.

With a promise to build a richer future for youth in our communities, Coast Capital Savings is a regular contributor to InTouch e-News, and active supporter of Kwantlen Polytechnic University’s work to provide young people with vital educational and career skills to become successful leaders and contributors to society.