Following on from our previous blog, where I spoke about different seasons… let’s chat about spring cleaning and our finances.
Moving countries might feel like starting fresh, but very often we see that there’s a trail of old financial paperwork quietly gathering dust in the background. A pension here, a forgotten investment there, maybe a few bank accounts still open in your home country “just in case”, sound familiar?
Spring is a great time to declutter your physical space, and it’s just as valuable to do the same with your finances. Especially when you’re living abroad, clarity in your financial life can bring peace of mind and better long-term outcomes.
So, grab a cup of something warm, I’ll take mine with a croissant, merci, and let’s go through some key areas to refresh and reset your global finances.
Start with the ‘before you moved’ pile
Most of us have financial baggage. Maybe it’s a pension from a job in the UK, or an old savings account back home that you forgot even existed. These can all impact your financial planning today, and in the future.
Now’s the time to track down those loose ends. Get statements. Check balances. Understand the fees you’re paying and the access you have to those funds. Some accounts might still work for you, but many won’t. Left unmanaged, they can become inefficient or even problematic, especially with tax implications across borders.
Simplify your bank accounts and currencies
How many bank accounts are you juggling? If you’ve still got multiple accounts across different countries and currencies, ask yourself whether they’re all serving a purpose.
Multi-currency accounts and platforms like Wise or Revolut can offer a much neater alternative, helping you reduce fees and streamline cash flow. Wherever possible, simplify. You want a system that works in your current country but also connects with your global reality.
Get on top of your cross-border tax obligations
The words “international tax” rarely spark joy, but this is one of the most important parts of your financial spring clean.
Make sure you know where you’re tax resident and how that affects your income, pensions, and investments. Are you paying tax in the right place? Are you accidentally exposed in another? Check if you’ve filed the right reports (like FBARs or FATCA forms if you’ve got a US connection), and review whether you need to work with a cross-border tax adviser. Better to catch issues early than let them grow unnoticed.
Update your Will, insurance, and emergency funds
Has your Will been updated to reflect your current country of residence? Is it recognised where you now live? Does it align with where your beneficiaries live? If you haven’t revisited this since your move, it’s time.
Same goes for life insurance, income protection, and your emergency fund. Is your risk cover still relevant based on your location, family structure, and currency? Could your family access your savings quickly if something were to happen?
Review your beneficiaries, policy terms, and access mechanisms. And if you’re building a buffer fund, consider where best to hold it. Ideally, it should be in a stable, accessible account, in a currency that matches your spending needs.
A tidy financial life is a powerful thing, especially when you’re living across borders. It frees up mental space, reduces risk, and helps you make decisions with more confidence.
And like any good spring clean, it doesn’t have to happen all at once. Start with one drawer, one account, one policy. If you need help reviewing the bigger picture, that’s where I come in.
Let’s get your global finances back in order, and make sure they’re set up for where life takes you next.
