Could your finances benefit from a spring clean? You could take your cue from the Swedes. They believe in ‘döstädning,’ or ‘death cleaning.’ It sounds pessimistic, but it involves decluttering your belongings to reduce the burden you leave behind to loved ones.
The philosophy gained international prominence through a 2018 book called The Gentle Art of Swedish Death Cleaning, by Margareta Magnusson, but many of the methods described to organise your home and belongings can be applied to your finances as well.
Why should you death clean your finances?
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 after you die.
Key steps in a financial spring clean
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.
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