How to 'Swedish Death Clean' your finances

Döstädning, otherwise known as Swedish Death Cleaning, is a method of decluttering one's life that encourages getting rid of belongings and living simply to spare loved ones from having to manage your possessions if you pass away.

While the name might sound a bit dramatic, the idea is simple: get organised now, so your loved ones aren’t left with a mess later, and we suggest giving your finances a tidy-up too.

Many people don't realise how much 'financial clutter' they could be leaving to their loved ones - whether it's subscriptions, pensions, or insurance policies, each one requires a process to resolve if you pass away.

By taking the time now to get organised and bring all of your important information together, you can saved your loved ones from having to rummage through drawers or guess your login passwords and add stress to an already distressing experience.

Not sure where to start? Here are a few things you can do to get started:

1. Check your credit report

Think of your credit report as a snapshot of your financial life - active accounts, debts, credit cards, even the ones you forgot about. Reviewing it regularly helps you spot anything that could be closed or flagged, and protects your family from nasty surprises. You can check yours for free online in just a few minutes.

Ready to get started? Checking your credit score with MoneySuperMarket’s Credit Score is a quick win - and it’s free.

2. Compile key documents

Keep all your important paperwork - bank details, insurance policies, wills - in one secure place. Better yet, scan them and save to a password-protected folder. It will save your loved ones a world of stress if they ever need to find something fast.

3. Review subscriptions and direct debits

Cancelling subscriptions you no longer use not only saves money now, but also prevents your family from being left to manage ongoing charges and cancel subscriptions later.

Leaving active accounts and unused credit card information open can also increase the risk of fraud or identity theft.

4. Appoint a digital executor

Think of a digital executor as your online organiser-in-chief: someone you trust to take care of your digital life - photos, social media, email accounts, cloud storage, and all those streaming subscriptions if you’re not around.

To appoint a digital executor, simply name them in your will and clearly outline what you’d like them to, whether that’s closing social media accounts, saving precious photos, or sorting out your online banking. 

It’s a good idea to leave a list of your digital assets and instructions somewhere secure (but accessible), and to check that your chosen person is comfortable with the responsibility.

5. Close old or unused bank accounts

Many people have bank accounts from old jobs, student days, or previous banks that are still technically open. Closing unused accounts simplifies your financial footprint and makes it easier for loved ones to handle your estate.