Some people spend more than 13 hours a week dealing with finances—how to get your time back, from money experts

June 30, 2026 - 20:37

A new study from the TIAA Institute reveals a striking divide in how Americans manage their money. People with low financial literacy are far more likely to spend over 10 hours each week on personal finance tasks, compared to those with higher scores. In some cases, individuals report spending more than 13 hours a week just dealing with bills, budgeting, and debt.

The research highlights a clear pattern. Those who struggle with basic financial concepts often face more complex money problems. They may juggle multiple accounts, miss payment deadlines, or rely on high-cost borrowing. This creates a cycle where poor knowledge leads to more time spent fixing financial mistakes.

Money experts suggest that reclaiming that lost time starts with building simple habits. Automating bill payments and savings transfers can remove hours of manual work each month. Consolidating accounts into one or two institutions also reduces the mental load of tracking multiple logins and balances.

Another key step is setting up a single, simple budget that focuses on the big categories like housing, food, and transportation. Overcomplicating budgets with dozens of line items often leads to abandonment. Instead, experts recommend checking in once a week for 15 minutes to review spending.

For those who feel overwhelmed, free counseling services and online tools can provide a structured path forward. The goal is not to become a Wall Street expert, but to reduce the time spent on money management so it no longer feels like a second job. Even small changes can free up several hours a week, giving people back time for family, hobbies, or rest.