I initially was all about carrying everything on the bike so I rode unencumbered. Long story made short - now I ride with a Patagonia Atom sling bag (with stabilizer strap) and the only thing on the bike is my computer. Phone/headphones are bluetooth so that's in the bag pocket on the strap. Water bottles and everything else in the bag. Mini u lock on the outside of the bag. Keys on the internal lanyard. Lights attached to the bag. Now when I stop, I just lock and leave instead of standing there stripping the bike to prevent theft.
I still have the front rack on my bike for when I go grocery shopping for big loads and use my cooler/panniers. but day to day it's the sling bag with a foldup nylon backpack inside for unexpected purchases. The backpack goes on my back and the sling bag rides as a front bag at my waist. The sling leaves plenty of circulation around my back, too.