6 Things I'm Doing to Make My Finances Way Less Complicated
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I'm a finance nerd at heart. I can dive into spreadsheets, track every cent, and optimize rewards until the cows come home.
But here's the truth: I don't have the bandwidth anymore. Between two kids, a geriatric dog, and, well… life, I can't spend hours each week working on my finances. My system needs to be way simpler.
Here are six changes I'm making to streamline everything.
1. Rolling over old 401(k)s into one IRA
Over the years I've collected a couple of 401(k) accounts from past jobs. But I'm happy to announce that as of last week they are now all fully rolled over into a single IRA.
It took a bit of work to complete the rollover process. But now I have way less clutter with just one account, and no fees.
As a bonus, some IRA providers even offer a 1% match on rollovers -- so I earned bonus money for consolidating. Woot woot!
2. Opening a new high-yield savings account
My old high-yield savings account (HYSA) recently dropped its APY. That's my cue to shop around.
The goal is to not only score a high interest rate (some online banks are paying over 4.00% APY), it's also to set up a system where I can save more automatically. By setting up a small direct deposit from my paycheck straight into savings each month, I won't have to think about it.
The combo of direct deposit + a top-tier APY means my emergency fund will grow quietly in the background, without me doing anything.
One option I'm looking at is the LendingClub LevelUp Savings account, which offers 4.20% APY with $250+ in monthly deposits. Read our full LendingClub LevelUp Savings review here to see if it's a good fit for you.
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- Competitive APY
- No fees
- Easy ATM access
- Unlimited number of external transfers (up to daily transaction limits)
- Requires you to make monthly deposits to earn the best APY
- ACH outbound transfers limited to $10,000 per day for some accounts
- No branch access; online only
The LendingClub LevelUp Savings account has a lot to offer. At the top of the list is its high APY, though you must deposit monthly to earn the best rate. Next is zero account fees, a strong and straightforward perk. Finally, you get a free ATM card, which you can use to withdraw from thousands of ATMs nationwide. Interested? You can open an account with $0.
3. Relaxing my budget system
I used to track every single spending category down to the penny. Clothing, ride-shares, entertainment, personal care -- even "dog treats" had its own line item in my budget.
But these days, I've loosened up a lot. Instead of 50 tiny categories to track, I've consolidated a lot of spending into larger groups. Think of "fun" instead of "movies vs. hobbies vs. outings."
I also now round things up or down to the nearest $100, instead of tracking every cent. This stripped-down version of budgeting is still really effective without burning me out.
4. Moving to flat-rate cash back cards
At one point, I was deep into travel hacking -- rotating credit cards, maximizing points, and chasing big bonuses or redemptions. It was fun (and lucrative), but it took a ton of effort to manage it all.
Now I'm keeping it really simple. I use flat-rate cash back credit cards that give me a fixed 2% back on every purchase. I honestly believe I'm getting 80% to 90% of the rewards I used to, but with zero stress.
5. Maxing out one big goal: my 401(k)
I get really excited about investing. But trying to save for a rental property, dabble in stocks, put 6% into my 401(k), max out my Roth IRA, and add to different buckets for this and that is really scattering my brain.
So instead of having seven or eight different investing goals this year, I'm just focused on one big one. I'm maxing out my 401(k), putting a full $23,500 aside into low-cost index funds.
Yes, it's a large chunk taken out of every paycheck. But everything happens automatically and I don't have to think about it.
6. Unsubscribing from everything
Every day I get new credit card offers in the mail, stock pick emails, and "exclusive" savings alerts. And all this "financial junk mail" distracts me from whatever my mission is.
So I've begun hitting unsubscribe from almost everything. Now my inbox is cleaner, my focus is sharper, and I'm less tempted by shiny things I don't need.
The bottom line
As much as I love personal finance, I have more important things to do in life right now -- like teaching my baby how to walk, or riding bikes with my 6-year-old.
By putting all my money systems on autopilot, I can still stay on top of my financial goals, but with way less involvement.
Compare today's top savings accounts here and start making your money simpler too.
Our Research Expert
Joel O’Leary is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, mortgages, and other personal finance topics. Joel has been writing about personal finance since 2018, previously leading editorial content for the How To Money podcast and serving as a resident writer at Budgets Are Sexy. He bought his first rental property at age 18, funding the down payment with savings from his high school job at McDonald’s -- a testament to his lifelong passion for smart money decisions. His work aims to make personal finance accessible and actionable for everyday readers. When he’s not writing, Joel enjoys surfing and spending time with his family.