Spring Cleaning Uncovers Fall School Supplies

The annual ritual of spring cleaning has paid an unexpected bonus. I now have a money-saving head start on another annual ritual: back-to-school shopping. My closets, drawers and filing cabinets have yielded enough writing and craft supplies to stock a small stationery store. As a result, I will spend far less on binders, pens, markers, notebooks and poster boards in the fall.

Here's how I plan to save time and money with this surprise stash of materials:

• Create a master list: Every year, I ''find'' new or barely used school supplies around the home. But in a rush to get the kids ready for the fall, I sometimes earn poor grades for recycling. This year, I plan to get the most out of my home store by maintaining an inventory list. On a yellow pad of ruled paper, I've started tracking our school and office supplies. Next fall, I plan to compare the home inventory list with the supply lists provided by my children's teachers. This comparison should reduce the time and money consumed by back-to-school shopping.

• Enlist the kids: I found spiral and composition notebooks that range from new-but-dusty to barely touched. To encourage my children to use existing supplies, I will give the kids a percentage of what we save by not buying new supplies.

• Repackage: Our crayon stash looks rather colorless in a plastic bag that has become clouded with age. It's a faded turnoff. My daughter prefers crayons tucked into a neat box. I plan, however, to repackage the older crayons in an attractive, but reusable container. Additionally, other supplies can benefit from quick upgrades, including the vinyl covers of notebook binders. A quick wipe or a few stickers offer easy makeovers for older supplies.

To be honest, I tackled spring cleaning with more passion this year. I looked into bins and corners that have been untouched for years. As result, I cleared out more clutter and found more treasure, including a stash of poster boards that were tucked behind a bedroom dresser. We now have a two-year supply of poster boards for science fair projects.

Spring Clean Your Money -- A Guest Post & Personal Cleaning Tools

I like the idea of spring cleaning my finances. My number one tool is to sort through my paper piles and other clutter. I have found financial records by dusting, sorting and filing. My second tool is a pen-and-paper and a laptop, which I use to track my finances.

These following tips about spring cleaning your money are from a subsidiary affiliated with a major bank. I'm neutral on the institution, but I like their information. Here are their tips:

1. Gather your financial records. Pull together your financial statements (e.g., bank, credit card, brokerage), your insurance and legal documents (e.g., life insurance, will, healthcare proxy), and your personal records (e.g., birth certificate, marriage/divorce certificate, property deed). Create a filing system and put a copy of your important papers either in a fireproof box at home, a bank safe deposit box, and/or with a trusted lawyer, relative, or friend.

2. Get the big picture. Use your financial statements to calculate your net worth, which will tell you the difference between what you own (assets) and what you owe (liabilities). Once you have a picture of your overall net worth, determine your cash flow, which will help you identify areas where you could be saving and/or investing more.

3. Set financial goals. Short-term goals are those you’d like to accomplish within one year (e.g., pay off credit cards); mid-term goals, within 5 years (e.g., make down payment on a new home); and long-term goals, 5 years or more (e.g., save for retirement). Write these down to help you clarify and prioritize your financial goals.

4. Allocate your money. Once you know your financial goals, allocate your money accordingly. This will help you determine how realistic your financial goals are, how long it may take to meet them, and what adjustments you may need to make now to achieve your goals in your desired time frame. Review expenses monthly and evaluate your progress regularly.

5. Check your financial reputation. Your credit score is a picture of your financial health in the eyes of lenders. Check your credit reports as they could have errors or discrepancies that could limit your access to credit. Resolve any errors and if you have any over-due payments, work towards paying them down as soon as you can. The three organizations that issue the most commonly referred to credit reports are: Equifax (www.equifax.com), TransUnion (www.transunion.com) and Experian (www.experian.com).

6. Protect yourself. If you don’t have a will, living will, or health care proxy, speak to an attorney to help ensure that your assets are handled according to your wishes. Dealing with these issues today can help you and your loved ones breathe easier in the future.

7. Stay informed and engaged. Periodically review your goals and objectives at least once a year, as they will likely shift over time as life circumstances change." --source: Lisa Caputo and Linda Descano of Women & Co.

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Lessons From Spring Cleaning: Finding Myself in Clutter

Spring cleaning has created a head-on collision between my need for financial order and my pack rat tendencies. My paper collection includes cards and letters from 1987, old photographs and a 1980s-era cassette with lyrics from one of my favorite singers. Spring cleaning has taught me a lot about past accounts. Here's what I've learned:

• Read the fine print and the large print: As I've reviewed older documents -- bank statements, letters and old cards -- I see how many significant details I've misunderstood, overlooked or dismissed in the past. Hindsight, of course, is 20/20. But as I sort through the pages of emotional and fiscal accounts, I carry forward lessons about the importance of carefully reading, digesting and acting on contracts, financial agreements and personal engagements. I've learned to carefully analyze contracts and contacts before taking action.

• Follow through: In a recent post about an ugly tree, I promised readers that I would do some homework and discover the name of the tree. A reader has even left a comment asking me to make good on my word. Today I cringed when I realized that I had forgotten about that promise. In fact, as I sort through my photos, I have been confronted with a vast collection of broken promises. For example, I see scrapbooks that I meant to assemble, savings targets that I have missed and letters that I have never answered. With that 20/20 hindsight, I have better insights for the present and the future. Insights have led to a practical action plan. I've created a master list of projects -- financial, personal, creative -- and I plan to check in on that list nightly and to make more time to follow through on goals and promises.

• Slow down: So many financial goals and personal promises floundered because I have lived life at high speed. I've moved from one so-called emergency to another, and in that speed I have created deeper problems and gaps in my assorted accounts. I now take more time to think, breathe and meditate. My goal is to move further ahead by moving slower.

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