Spring has brought with it the new 2021/22 tax year – and now could be the perfect opportunity to give your finances a spring clean.

Having a financial ‘tidy up now could bring benefits in the long-term.


Al Ward, head of customer savings at Standard Life, has some tips on how to get started…

1. Make some clever cuts

Commit to reviewing all the regular payments you need to make. Expensive utilities and insurance policies could be re-quoted or renegotiated to trim down some spending.

It’s also a good idea to check if you are receiving, or if you are eligible for any benefits through your employer. It might be cheaper, and may even mean you can stop paying for something separately, such as life assurance.


2.  See what you could put into savings

The money you save, however small, could be redirected into your pension or a savings account to plan for you future.

3. Make the most of Isa allowances

Couple on sofa
Time to spring clean your finances? (Alamy/PA)

The new tax year having started in April – and people can save up to £20,000 into Isas tax-free each tax year. You might consider a Cash Isa if you need to access your money easily in the short term, or alternatively a stocks and shares Isa might be more suitable for those looking to save longer term.

4. Don’t forget your pension

If you have several pension pots, particularly those from previous employers, you might consider combining them into one. Tracking down old pension pots, particularly small ones can be time-consuming, but they will all contribute to a healthier financial future.

While you’re assessing your pension, it’s also worth thinking about maximising the tax relief you can benefit from by saving into one.

5. Consider financial advice

Many people find financial decisions and financial planning quite tricky and often put this planning off. Although there’s likely to be a cost, a conversation with a financial adviser could give you good ideas about where to start.



A financial planner can help you with everything from your current savings plan to your retirement. There is often a misconception that you should only get financial advice once you reach a certain age, but getting professional advice early could help you save more for your future in the long-term.

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