The Swedes have a philosophy called döstädning, or ‘death cleaning.’ Despite the stark name, it’s not morbid, it’s about thoughtfully organising your life to make things easier for those you love and you can do it at any age! In fact, making it a habit from a young age can help to avoid bigger stress later. The idea is simple: by decluttering your physical and financial world now, you remove unnecessary stress later. It’s an act of care, control and clarity.
Inspired by Margareta Magnusson’s The Gentle Art of Swedish Death Cleaning, this mindset can apply beautifully to your money too. Sorting pensions, consolidating accounts, updating Wills, ordering your finances, checking in on your investments, reviewing your life cover – it all brings peace of mind and a real sense of progress.
And the best part? It’s not about perfection. It’s about moving into the next season feeling lighter, clearer and more intentional. Think of it as financial sunbathing: clearing the clouds so your goals have space to shine.
Why you should have a summer financial reset
First, it can help you feel more in control of your money. Second, it can help you refocus your time (and money) on what matters most to you. And third, taking time to organise your finances now could spare your loved ones from a great deal of emotional and financial stress (hopefully years down the line). If you’re in your thirties or early forties, now’s the time to build lifelong habits. If you’re in your forties or fifties, your financial picture may be more complex. Regular reviews and planning help keep things aligned as your life changes
Some key steps…
It’s a good idea to make a checklist and work your way through.
Key steps include:
Streamline your finances
Close accounts you don’t use, cancel unused subscriptions or memberships and explore ways to cut back on wasteful spending
Build a document library
Gather all important documents, including Wills, insurance policies, investment portfolios and property deeds. Consider storing documents securely online. Having an easily accessible document library will help make sure your loved ones can find critical information quickly when needed
Keep beneficiary information up to date
Review and update beneficiary details on life insurance policies, pensions and expressions of wishes to ensure they reflect your current wishes and intentions. Don’t fall into the trap of having an ex-spouse listed as a beneficiary, for example – this is particularly relevant during life transitions such as divorce or remarriage
Revisit your investments
Are your investments still aligned with your long-term goals? Has your attitude to risk altered? Maybe your circumstances have changed? This information is important. We’ll monitor performance and rebalance when necessary; updating us on goals, risk preference and life changes will inform investment recommendations
Review your life insurance
Are your protection policies still adequate for your needs? Do you have the right level of cover? Have your circumstances changed? Keeping on top of this will bring you peace of mind that your loved ones will be properly protected should the worst happen
Maximise tax-efficiency
We’re well into the 2025/26 tax year now, with a new tax year comes opportunities, allowances and reliefs to take advantage of, to reduce your tax liability. Now’s a good time to check in on your ISA and pension contributions. Using your annual ISA allowance can help shield your savings and investments from Income Tax and Capital Gains Tax (CGT). Pension contributions also offer valuable tax relief and reviewing them before any potential policy changes may make sense. If you’re considering selling assets, such as shares or property you don’t live in, make use of your CGT exemption. With further changes to IHT ahead, reviewing any current estate planning strategies – including making use of annual gifting allowances – could help reduce future liabilities on your estate
Consider your retirement plan
Are you saving enough into your pension to provide you with the lifestyle you desire in retirement? Are the underlying investments right for you? Is the level of risk right for you? If you have multiple pension pots, consider whether consolidating them makes sense. Are you on the right track to enjoy the retirement you deserve?
Making your plans known to others
Discussing your financial arrangements with trusted family members and keeping them updated on changes you’ve made is an important part of the process too. Intergenerational financial planning involves managing wealth and financial strategies across multiple generations of a family, focusing on ensuring financial security, preserving assets and facilitating smooth wealth transfer while considering tax implications, estate planning and family values. They’re really valuable conversations to have.
Take control
Tidying up your financial life doesn’t need to be stressful or complicated. Done right, it can help you feel empowered, confident and more intentional with your time and money – while giving your loved ones peace of mind, both now and in the future.
Creating disciplined financial habits for life
‘Cleaning’ your finances is more than just getting organised, it’s about simplifying your life and leaving the best possible legacy for loved ones. It’s really about living well now, taking control, getting clear and focusing on what matters most. Maybe those Swedes really are on to something.
Ready for your summer financial reset?
Whether you’re building your future or refining what you’ve already achieved, your financial planner can help you get organised — so you can focus on enjoying life.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. The Financial Conduct Authority (FCA) does not regulate Will writing, tax and trust advice and certain forms of estate planning.
Estate planning: How to ‘death clean’ your finances
Eight steps to prepare your finances before you die