Have you ever looked at something completely within your control and thought, “Ugh, this is just stressing me out?”
I’ve definitely reached that point with my finances. I currently have 6 credit cards, 4 checking accounts, 3 savings accounts, 3 investment accounts, and 3 retirement accounts.
It all added up so fast. When I first learned how to budget, I also learned how to chase savings account interest rates. Recently, I switched jobs and opened joint accounts with my fiance… and now it’s out of control! And I don’t think it’s just me… I’m pretty sure this happens to everyone. We’re a nation of collectors!
When you’re super excited about something whether it’s shoes, a hobby, or even personal finance, it can be easy to get carried away. Fortunately, I’m beginning to realize how inefficient and tiring it is to keep track of it all. (Wouldn’t want to forget where all my net worth is at, you know?) Don’t know if I’m drawing this conclusion because of all the blog posts out there on minimalism, but I finally realize that I have control over all of this!
So by the end of this month, I’m vowing to close 25% of my accounts. I’ve wanted to close at least one of my credit cards and two of my Chase banking accounts for some time and at this point I just need to do it. I’ve also been lost about what to do with my old 401(K) account. Should I roll it over into my current 401(K), roll to my Roth, or leave it where it is? I keep reading conflicting opinions on it and I’m just not sure what makes the most sense for me yet.
Anyway, I think this is going to be good. I can feel it! It’ll be nice not having those extra cards in my wallet or various online logins to remember.
How are you doing with your finances? Are you making any changes or reaching any goals this month? I’d love to hear.