Five Steps for Spring Cleaning Your Finances

Five Steps for Spring Cleaning Your Finances

(BPT) – Spring is about decluttering and tidying up our homes; but it can also be a great chance to dust off our finances. With April recognized as Financial Literacy Month, it’s an ideal moment to organize your accounts and paperwork, revisit budgets and goals, and spruce up your saving and spending habits.

There are many options available for today’s savvy savers to ensure their financial affairs are in order; they range from innovative savings accounts to discounts on medical expenses, to personal loan options – and many of them are available to AARP members. Here are five steps individuals can take to spring clean their finances this Financial Literacy Month.

Dust Off Your Savings Accounts

Choosing the right savings account can be an excellent way to make your finances more robust with minimal effort. With the High Yield Savings from Marcus by Goldman Sachs®, AARP members earn a rate that’s 0.10% higher than the stated available Annual Percentage Yield (APY) at for 24 months. You can protect and grow your savings in a high-yield account that’s FDIC-insured and backed by the financial expertise of Goldman Sachs. You can open an account online or by phone without incurring fees, and easily transfer funds from your current bank.

AARP members can also take advantage of the 8-Month No-Penalty CD from Marcus by Goldman Sachs®. AARP members can open an 8-month No-Penalty CD online in minutes with no fees and lock in a higher interest rate than what’s available with a Marcus Online Savings Account. You’ll have the flexibility to withdraw your full balance online beginning seven days after funding, with no penalty.

Healthcare is the most important expense for many of us, and individuals can save for health by utilizing the AARP® Health Savings Account offered by Optum Bank®. Members with a qualifying high-deductible health plan can take advantage of tax benefits as they save for qualified medical expenses. They can also access tools, resources and information tailored to their retirement needs. AARP members under 65 receive a 20% discount on monthly maintenance fees, and if you’re 65 or older, your monthly fees are waived.

Revamp Your Credit Card

Choosing the right credit card is vital for optimizing your overall financial goals. Still, with so many options available, it can become overwhelming to choose a card that fits all your needs. Some cards have features that help support you financially across multiple expenses, such as the AARP® Essential Rewards Mastercard® from Barclays. Card members can earn a $100 cash back bonus if they spend $500 on purchases in the first 90 days, and they also earn 3% cash back on gas station and drug store purchases (excluding Target® and Walmart®), 2% cash back on eligible medical expenses and 1% cash back on all other purchases.

Declutter Your Loans

Loans can be a way for anyone to achieve their financial goals, but it’s vital to ensure you choose the right product that fits your lifestyle and gives you bang for your buck. Thankfully, there are many options available for individuals looking for a loan that doesn’t break the bank. With Personal Loans from Marcus by Goldman Sachs®, AARP Members could be eligible to receive special pricing when they apply for a no-fee personal loan ranging from $3,500 to $40,000.

Spruce Up Your Medical Expenses

With healthcare costs on the rise, it’s important to look for ways to save where you can. One way to do this is by ensuring you’re getting the best possible prices on your prescriptions. AARP® Prescription Discounts provided by OptumRx® offers a free prescription discount card that can be used at over 66,000 pharmacies nationwide for savings on all FDA-approved medications. The program is open to anyone, but AARP members receive additional benefits, including deeper discounts on medications, home delivery, coverage for your dependents and more.

Long-term care can be another major expense for many, but options are available to help prepare for the future. AARP Long-Term Care Options from New York Life can provide custom options to help protect your assets and lifestyle with solutions that can assist in addressing your specific needs and budget.

Reorganize Your Estate Planning

Estate planning is essential for anyone looking to keep their financial affairs in order by arranging for the long-term. The documentation needed, however, can sometimes be intimidating. Options are available to AARP members such as Trust & Will Estate Planning, that can help reduce stress by streamlining the process. When you create an estate plan online through Trust & Will, you get access to customer support, customizable documents and one year of free unlimited updates. AARP members receive a 10% discount on trusts, wills and estate planning documents.

This Financial Literacy Month, make sure you’re utilizing all the tools at your disposal to spring clean your finances, many of which are available to AARP members. From savings accounts, to personal loans, to medication discounts, the products and services available on today’s market will ensure you’ve optimized your finances and are receiving the best possible returns.

AARP member benefits are provided by third parties, not by AARP or its affiliates. Providers pay a royalty fee to AARP for the use of its intellectual property. These fees are used for the general purposes of AARP. Some provider offers are subject to change and may have restrictions. Please contact the provider directly for details.


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