What is Financial Decluttering & How You Can Do It - Queen of Free (2024)

As the new year begins, most of us long for less. After a season of indulgence, we need less food, less stuff, and less spending for sure. For this reason, it’s smart to do a decluttering of sorts, but maybe not in the way you think. You need to do a Financial Decluttering, friends. Here’s what it is and the do’s and don’t’s of the process.

Simply put, Financial Decluttering is ridding yourself of those things costing you more money. It may be as simple as easy as canceling a subscription or removing an app from your phone. Or it could require you to clean out a drawer or closet in your home. It’s a combination of eliminating the items in your home that cost you money to maintain and ditching the triggers that cause you to spend money.

The best beginning point to do some serious Financial Decluttering is a little introspection. Ask yourself the following questions:

• When do I overspend?
• What in my home is causing my finances to be disorganized?
• Which bills regularly get paid late?
• What systems do I have in place to save money and how can I improve them?

These simple questions will help you consider where to begin financial decluttering.

While asking questions is great, you need to move your journey forward at some point. More than likely, you’ll need the ideas of others and encouragement, too. Ask a friend to join you in this journey or become part of an online community of other people on the same path. I have a newly created Financial Decluttering: Clean Up Your Money Mess which launches in January. Join now, meet the tribe and get ready for daily challenges. When you have success and complete a challenge, share the results online. You can take pride in your progress and help others at the same time. Plus their creative ideas might spark some of your own.

Now for the important details to help you stay on track.

• Take on too much. Keep your Financial Decluttering Sessions small and achievable. Instead of cleaning out your entire pantry, focus on one shelf. Instead of budgeting for a year, budget for a month. We’re working on making the process manageable and sustainable.
• Try to everything in one day. We’re working on building healthy habits that you can use every day of your life going forward. Doing too much at once will burn you out.
• Be overwhelmed or discouraged. Yes, it’s going to take some time to get things straight. After all, it took a long time for you to build up the clutter. Take things one day at a time.
• Replace stuff with more stuff. The purpose of Financial Decluttering is not simply to toss out old things to get new things. Wait 30 days before making any new purchases that aren’t necessities.
• Purge items belonging to others. There’s a great temptation to get rid of the subscriptions of others, to toss old clothes that belong to others, to pitch paperwork belonging to others. While you may be able to do this with your children, don’t purge your spouse’s possessions. This will not go well for you.
• Don’t get caught in the weeds. Try to remember that this style of decluttering always comes back to your financial situation. Reorganizing the cabinets or painting a room just to look pretty may not impact your money situation. Always ask yourself how what you’re doing contributes to the greater financial picture.

• Write down your goals. Studies show that when you write down a goal instead of just thinking about them you’re more likely to achieve those aims. Once you establish why it is you’re doing what you’re doing, write down your Financial Decluttering Goals and keep them somewhere visible on a daily basis.
• Focus on the positive. Look at you! You’re striving toward a brighter financial future. Rather than beat yourself up for the past (which does zero good), focus on your new beginning and keep plugging away every day.
• Set limits on spending. Spending money means more to manage – more receipts, more entries in your budget, more clothes to wash, more items to organize. While you’re financial decluttering, aim to purchase as little as possible outside of your regular budget.
• Resource yourself. While you’re working on your daily challenges, listen to an audiobook! I’d suggest Your Money, Your Marriage: The Secrets to Smart Finance, Spicy Romance, and Their Intimate Connection. Use the time you’re spending well to invest in your financial future.

Here on Queen of Free, this January will be a month focused all on Financial Decluttering. I can’t wait to have you along for the ride and see what you share on Facebook and Instagram! Don’t forget to hit your photos and stories with the #financialdecluttering and #thequeenoffree hashtags so I see your excellent work. Let’s start 2019 out on the right foot by dumping the junk, clearing the clutter, and making small improvements each day.

Our new bookYour Money, Your Marriage is now available! Be sure to check out videos on managing money together on Facebook.

My book is now available:Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Found an Inspired Happily Ever After.You can also check outThe Debt Free Devotionalon Kindle.

This post contains an affiliate link. That means when you get a great deal, learn about a way to save, or maybe even something for free, I may end up making a small commission. All prices are subject to change.