Simplifying Money Admin - Group Journal

Last month on another thread, I mentioned wanting to simplify life so I can enjoy it more. That includes money admin. All are welcome to join in the fun, share advice and tips, or ask questions.

Here are some things hanging over my head:

  • I have 3 different 401k retirement accounts. Stalled on rolling some over because not all equivalent options are available.
  • Credit card. I’ve had the REI credit card for almost two decades and it’s been great: 1% cash back, no annual fee, and supports a co-op business. Sadly, they’re discounting the cash back program starting in 2023. You still get 1% back, but only as REI store credit. In a panic I thought I wanted to be a travel hacker and got a CapitalOne Venture X card, but not only does the name make me feel like a Patagonia vest-wearing weirdo, I really dislike keeping track of two payments. I want to figure out how to get down to 1 credit card.

Some things that have been super helpful in simplifying money admin for me include setting up a DAF for donations so I have fewer receipts to track, mailing 2 rent checks at a time (with the 2nd check dated for next month), and YNAB. I’ve tried to break up with YNAB do many times, and keep coming back!

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I love simplifying. I need to decide on a share purchase schedule and portfolio so i don’t have to think about that any more. I also have 2 bank accounts to close and 1 to open to manage our money better. Its costing me in fees to not have this done.

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After the week you’ve had, I want to lovingly say GTFO until you’ve slept five million hours at least :sparkling_heart::sparkling_heart::sparkling_heart:

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:joy::crazy_face: Fair

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We’ve started this! Had a bunch of bank accounts and no joint checking. We have a joint checking now! Progress.

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I need to simplify.
My dad died recently and trying to find all his different bank accounts and stuff is such a hassle

I want to make my life/death as drama free for anyone. I have accounts all over the place

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I’m so sorry to hear that, @nnls.

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I went to close an extra bank account and realized that I had closed it, just didn’t remove it from my tracking spreadsheet. So I removed it from my tracking spreadsheet. Tiny victory, even if dubious.

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Yay thanks for starting this!

I’m not sure if it counts, but one thing I need to do is change banks. And I’m the process I need to actually get the accounts set up within our trust. I think that counts as simplifying it for future people dealing with our trust?

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Woohoo! Just submitted a request for a 401k rollover from 2 jobs ago. Now, ridiculously, I wait until the check reaches me and then put it back in the mail to new 401k, and then hopefully I’ll have 1 fewer account.

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