When it comes to your money, whether it includes loans, insurance, savings or superannuation, nothing about it is ‘set and forget’.

From time to time, it is quite important to consider looking at the different aspects that make up your finances to see if they need a freshen up.

Here are some tips on to renew your finances this Spring.

Your budget: Since a person’s income and expenses will change over time, making sure your budget is up to date can help keep track of your spending and calculate how long it will take to reach your savings goal.

Your mortgage: With interest rates coming down, check if you are still receiving a competitive rate; the lower the interest rate, the quicker you can pay off your loan. Find out your current interest rate and compare it to other loans on the market to see if there is a better deal out there for you.

Your savings: Spring is the perfect time to reconsider the type of savings product you currently have and whether the return you receive on your savings is at the best rate out there. For those with a term deposit that is about to mature, consider whether there is another savings account that pays higher interest or if another term deposit is a better option.

Your superannuation: To get to know your superannuation better this Spring, find your latest super statement and check the following:

• If you have multiple super accounts: consolidating all of your super accounts to just one will save you fees and make it easier to keep track of.

• Investment options: consider the best investment option for each stage of life when choosing super investments. Those who are more than ten years away from retirement may be more suited to an aggressive investment strategy which is likely to deliver higher returns. Those who are closer to retirement may want to use more conservative options to protect their wealth.

• Contributions: consider how much you are currently contributing to your super; the sooner you start contributing extra, the less you have to give up each week to make a difference in the long-term. Lower income earners may also be entitled to a government co-contribution and mid-high income earners may be able to save tax.