Spring is here, and for many people this means it’s time for spring cleaning.

I’ve added something else to the annual frenzy. My husband and I use this time of year to clear the clutter when it comes to our finances.

Now’s the time to get out your old will – if you even have one. You, of course, should have one, especially if you have underage children. This spring, my husband and I are going to update our will, something we should have done long ago. We’ve had two children since we had our first will prepared. We’ll also review the people we designated to hold power of attorney and our health care proxies. These documents direct someone to make financial and medical decisions on our behalf if we become incapacitated.

You also should review your insurance policies to make sure you have the right coverage. And, while you’ve got the insurance documents out, shop around to see if you can get better rates.

A good way to start your financial spring cleaning is to organize your files, throwing out documents you no longer need.

There are bills or statements that you do need to eventually get rid of. Here’s a quick list of cleaning suggestions from the National Foundation for Credit Counseling (NFCC):

¢ Shred ATM receipts and bank deposit slips after you see them on your bank statements.

¢ Destroy pay stubs after matching them with your year-end statement and your W-2, which you should have received by now.

¢ Throw away utility statements if you’ve already paid them.

¢ After checking to make sure your credit card statement is accurate and you have paid the bill, shred those statements, too. Let me add that you should keep any statements that document big-ticket items. You might want to keep those statements for insurance purposes or to prove a warranty.

¢ Throughout the year you should hold on to the quarterly statements from your 401(k) or other retirement plans. But once you get the annual summary and everything matches up, then shred and throw away the quarterly statements.

¢ When it comes to your tax records, the IRS says that generally you need to keep documents that support information on your tax return, such as deductions, until the period of limitations for that tax year runs out. To find out those periods, go to www.irs.gov and in the search field put “Recordkeeping.”

While you have your files out, you might want to prepare a “letter of instruction” that includes the whereabouts of all your essential documents, such as a will, bank statements, insurance policies, checking accounts, stock portfolios and mutual fund statements. Give the letter to a trusted person or the executor of your will.

You also should use this time to clean up your credit reports, one expert says. Every 12 months you are entitled to get a free credit report from each of the three major credit bureaus. Go to www.annualcreditreport.com for the free reports or call (877) 322-8228. Once you get the reports, check to make sure all the information is accurate.

Once you’ve cleaned up your financial files, you might as well look around for unused items you can sell, especially if you need some money to pay off some debts, advises the NFCC.

I know all this tidying up isn’t easy. Honestly, I’m a pack rat so I have a high tolerance for clutter. But a clean house means an orderly home and life. I’ve come to realize the same is true with your finances.