The Mental Load of Finances

Raise your hand if you’re overwhelmed by your personal finances!!

From taxes, to budgeting, bill paying, saving, investing, and making a million money decisions on a daily basis, it is so easy to become overwhelmed by your personal finances. Even I, a person who generally takes pride in having my financial sh*t together, is feeling a bit stressed by CPA who has suddenly gone MIA two weeks shy of my due date and TAX DAY! Answer my emails Mr. Accountant Man! (I know, I know, CPAs are working 24/7 right now)

You can and should make your financial life as simple and underwhelming as possible. Will this result in you building less wealth? No, absolutely not. In fact, it'll probably help you build greater wealth. Fight. For. Simplicity! Here are my tips:

1. Automate Everything You Can

Set up automatic bill payments, savings contributions, and investment deposits. By automating recurring transactions, you reduce the risk of missed payments and free up mental space for bigger financial decisions. Or you can free up your time to do other productive things like doomscrolling and overthinking about every bad thing you’ve ever said or done.

2. Simplify Your Accounts

Having multiple checking, savings, and credit card accounts can create unnecessary complexity. Consider consolidating where possible. For example, keep one main checking account, one savings account for emergencies, and one credit card for rewards or daily spending. The fewer accounts you have to monitor, the less overwhelming it will feel. Having more accounts than necessary doesn’t make you financially sophisticated. There I said it.

3. Use Budgeting Apps and Financial Tools

Gone are the days of manually tracking every dollar in a spreadsheet. Budgeting apps can help you categorize spending, track progress toward goals, and even alert you to unusual transactions. By using technology to manage your finances, you reduce the need for constant manual oversight. I personally like Monarch. A lot of folks love YNAB, Empower, or EveryDollar. There’s nothing wrong with testing a few out before committing to one.

4. Set Up Financial Checkpoints, Not Daily Stress

Instead of worrying about your finances daily, schedule regular money check-ins—weekly, biweekly, or monthly. During these sessions, review your accounts, adjust your budget, and assess your progress toward financial goals. Knowing you have a set time to handle money matters can prevent constant low-level anxiety about finances. Nothing says “tonight’s your lucky night” to your spouse like a money date, am I right?! No? Crickets?

5. Establish a Simple Investment Strategy

Investing doesn’t have to be complicated. Rather than constantly researching stocks or market trends, consider setting up a passive investment strategy, like investing in index funds through a robo-advisor or a simple 3-fund portfolio. A "set it and forget it" approach can help you grow wealth without the mental exhaustion of frequent trading. Again, making something complicated doesn’t make you sophisticated. This is even MORE true when it comes to investing. The KISS method is great - keep it simple, stupid*

*I don’t actually think you’re stupid.

6. Create an Emergency Fund to Reduce Financial Anxiety

Unexpected expenses can be a major source of financial stress. Having a dedicated emergency fund (typically 3-6 months' worth of expenses) acts as a safety net, reducing the worry of how to cover surprise costs like car repairs, medical bills, or job loss. Yes, 3-6 months of expenses is a lot of money. Start slow and continue to build this fund. I promise you won’t regret it.

7. Use Rules of Thumb for Quick Decisions

Instead of overanalyzing every financial decision, use simple guidelines to make choices easier. For example:

• The 50/30/20 rule: Allocate 50% of income to needs, 30% to wants, and 20% to savings and debt repayment.

• The one-month buffer rule: Always keep enough in checking to cover next month’s expenses.

• The 24-hour rule: Wait 24 hours before making non-essential purchases to avoid impulse spending.

These are general rules of thumb, a one-size fits all approach - they are not perfect solutions. But they will help prevent analysis paralysis and overwhelm if you’re struggling.

8. Delegate Where Possible

If finances feel like too much, don’t be afraid to seek help. This could mean working with a financial advisor, using a tax professional, or even someone like a bookkeeper. Delegating financial responsibilities can lighten the mental load significantly. Also, if you’re in a stable partnership with someone, the financial mental load needs to be split. Don’t let yourself or your partner be 100% responsible for all things financial. It’s A LOT and you are A TEAM.

9. Focus on Progress, Not Perfection

Financial stress often stems from feeling like you’re never doing “enough.” Instead of aiming for perfection, focus on steady progress. Whether it’s paying off a little extra debt, saving an extra $50, or cutting out one unnecessary subscription, small wins add up over time. I used to be a perfectionist, then I had a kid. Now I’m a survivalist.

10. Set Clear Financial Goals

A clear goal simplifies decision-making. Whether it’s buying a home, retiring early, or traveling more, defining your financial priorities helps you stay focused and avoid decision paralysis. Break larger goals into smaller, actionable steps so you always know the next move.

Reducing the mental load of personal finances isn’t about avoiding money matters—it’s about creating systems that make managing money easier and less stressful. By automating, simplifying, and using tools to your advantage, you can take control of your finances without letting them take over your mental space. The goal isn’t just financial success, but financial peace of mind.

One fun money fact for this week: Did you know the US dollar is made of 75% cotton and 25% linen? It’s not actually paper.

Until next time - I love to love ya!

-Catie