COLUMBUS, Ohio – As Ohioans continue to clear out their closets and tidy up their homes as part of their spring cleaning, the Ohio Department of Commerce’s Division of Financial Institutions (DFI) says this is also the perfect time to clean up financial clutter. According to a recent survey, 88% of American adults reported feeling some form of financial stress at the beginning of this year, and 77% said they experienced a financial setback last year.

Interim Division Superintendent Ingrid White says statistics such as these highlight why checking in on your financial health regularly is more important than ever.

“Spring cleaning isn’t just about cleaning up our closets, organizing our garages or sprucing up our landscaping, it’s also a great time to take a fresh look at our finances. Just like a cluttered home, money matters can feel stressful and overwhelming at times, but they don’t have to be. Building a quick financial check‑in into your yearly routine can help make everything feel more manageable, help you stay aligned with your goals, and even save you some money along the way.”

The Division encourages all Ohioans to consider taking the following spring-cleaning steps to achieve a healthier and “cleaner” financial year.

Organize and Clean Out Old Paperwork
Sort essential documents from outdated ones, shred what you no longer need, and consider digitizing key records. According to the IRS, you should generally keep tax‑return records for three years (or up to seven years if they involve worthless securities or bad‑debt deductions), maintain employment‑tax documents for four years, and retain property‑related records until at least three years after disposing of the property.

Refresh Your Budget
Review your last three months of spending, adjust for rising costs, and rebuild your emergency fund. Even using part of your tax refund can strengthen your financial cushion. While it may seem tedious at first, a budget is a helpful way to understand your spending habits and how they’re impacting the larger picture.

Cancel Unused Subscriptions
Americans lose nearly $200 a year on forgotten subscription services. Make a list of your monthly charges, evaluate what you actually use, and cancel what’s no longer needed. Those monthly subscriptions can add up quickly and can be used for other more practical expenses.

Check Your Credit Reports
Visit AnnualCreditReport.com to access free credit reports. Once you have your credit report, look carefully for any errors, unfamiliar accounts, or fraudulent activity, and dispute inaccuracies promptly. By maintaining good credit, you give yourself more financial flexibility and long‑term stability.

Update Your Financial Goals
Whether you set resolutions in January or not, spring is a great time to assess progress, adjust goals, and ensure your money habits reflect your current priorities. If your New Year’s resolutions seem out of reach, be flexible enough to create new, more realistic goals to set your sights on for the remainder of the year.

Take a Financial Inventory
List all accounts, update beneficiaries, close long‑unused accounts, and document valuables for insurance purposes. Consolidating accounts or automating bill payments may help to simplify day‑to‑day money management.

Stop Clutter Before It Starts
If constant credit card and loan offers feel unavoidable, there are steps you can take to help reduce these communications. By visiting optoutprescreen.com or calling the national credit bureau hotline at 1‑888‑5‑OPTOUT (67‑8688), you can reduce unsolicited mail and regain some control over what reaches your inbox.

For additional tips on developing a budget and other financial habits, visit the Division’s Office of Consumer Affairs website at com.ohio.gov/ConsumerAffairs.

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COLUMBUS, Ohio — In recognition of Data Privacy Week this week, the Ohio Department of Commerce Division of Financial Institutions (DFI) reminds Ohioans of steps they can take to protect their personal information, which is vital to keeping their identity and finances secure. Data Privacy Week also coincides with Identity Theft Awareness Week, which highlights various ways to stay safe online.

According to the FBI’s most recent Internet Crime Report, Americans filed 859,532 complaints of suspected internet crime in 2024 with reported losses exceeding $16 billion, a 33% increase in losses from the previous year. In Ohio, the Federal Trade Commission found that identity theft was the most common online complaint in 2024, with residents filing 27,766 reports.

“Technology has transformed how we live, work, and manage our finances, but it also means criminals have more ways to target and engage us,” said Division Superintendent Kevin Allard. “Some of the most effective steps you can take are also the simplest, such as using strong, unique passwords. By taking just a few minutes to strengthen your digital defense, you can help avoid significant – and potentially costly – issues down the road.”

To stay safe, the Division encourages Ohioans to consider following the following best practices recommended by cybersecurity experts:

• Enable Multifactor Authentication (MFA): Add an extra layer of security to your accounts beyond just a password. Multifactor authentication is a security method that requires more than one form of identification, such as a password plus a code sent to your phone, to verify your identity and protect your accounts.
• Update Software Regularly: Ensure your devices and apps have the latest security patches. You can search for updates by clicking on the settings menu options within the software. By enabling automatic updates, you can help ensure you stay protected going forward.
• Strengthen Passwords: Avoid using a one-size-fits-all password. Instead, use complex, unique passwords for each account and don’t reuse them. Additional guidance is provided below.
• Be Alert for Phishing: Do not click on suspicious links in emails or texts, even if they may appear to be legitimate. Never share personal information with unknown sources.

Change Your Password Day is February 1
The Division invites Ohioans to recognize Change Your Password Day this upcoming Sunday, Feb. 1, by taking the time to update and strengthen passwords to their various platforms and accounts.

When creating or updating passwords, keep these tips in mind:

• Avoid using personal information such as names, birthdays, or addresses.
• Use a combination of uppercase and lowercase letters, numbers, and symbols.
• Do not reuse passwords across multiple accounts.
• Consider using a password manager to securely store and generate strong passwords.
• Enable multifactor authentication wherever possible for added protection.

Safeguarding personal and financial information is an ongoing responsibility. By taking proactive steps, Ohioans can significantly reduce the risk of authorized access to their sensitive or financial information.

For more additional resources about online safety visit the Division’s Office of Consumer Affairs. 

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COLUMBUS, Ohio — With the holidays officially over, it’s a matter of time until credit card bills from last month’s spending find their way into Ohioans’ mailboxes. While many individuals may be tempted to quickly set those bills aside, the Ohio Department of Commerce Division of Financial Institutions (DFI) encourages everyone to slow down, review statements for any questionable charges, and consider how they might keep their financial goals on track in 2026.

According to a recent report, the average credit card balance per consumer now stands at $6,523, which is up 2.2% year over year. If that sounds like you, the Division recommends taking the following steps: 

• Negotiate a lower interest rate. Call your credit card company and highlight your history of on-time payments or mention competitive offers from other lenders. Even a small reduction can save you money over time.
• Try a low-spend month. Commit to spending money only on essentials, such as housing, transportation, and groceries, for 30 days. This can be an effective way to offset holiday costs and reset your spending habits.
• Create a debt payoff plan. Don’t panic if you can’t pay everything off immediately. Instead, develop a realistic plan to tackle your debt as quickly as possible – and stick to it.
  

“All of us want to start the year feeling confident about our finances,” said Division Superintendent Kevin Allard. “Taking time now to review your financial situation and make some changes can help you set the stage for a stronger financial future this year and beyond.”

This is also a good time to thoroughly review your credit card statements to ensure there aren’t any unusual or strange charges. If you discover such charges, you should take the following steps: Lock or cancel your card; report the charge to your card issuer; update your online accounts including passwords; review other recent transactions and accounts; file a report with the FTC; and consider filing a police report since some banks and credit bureaus may require that in the event of large losses.

For more information and resources on financial health, fraud prevention, and credit improvement, visit the Division’s Office of Consumer Affairs website at com.ohio.gov/OCA.

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