A personal finance expert is encouraging people to apply the concept of 'Swedish death cleaning' to their finances, following a surge in popularity of the trend on TikTok. Kara Gammell, from MoneySuperMarket, says the practice of decluttering in anticipation of death can ease the burden on loved ones.
Gammell advises starting with a 15-minute rule to overcome the daunting task. 'Task initiation can be difficult, so I have something which I call a 15-minute rule where I say to myself, anybody can do 15 minutes of something,' she says. She recommends closing unused bank accounts to simplify your financial footprint.
Checking your credit report can help identify old financial links to former partners or flatmates, which can be removed. Gammell also suggests using apps like Emma to track subscriptions and cancel unwanted ones. 'Many of us get caught out by not cancelling subscriptions in time,' she notes.
Appointing a digital executor is another key step, according to Gammell. This person would manage your digital life, including social media, email accounts, and streaming subscriptions, after your death. She advises naming them in your will and leaving clear instructions.
Finally, Gammell stresses the importance of having an up-to-date will and keeping all important paperwork in one secure place. 'A will states what happens to your money, what happens to your family, and makes sure that you’re able to decide what happens,' she says.
