What is the most efficient way of using batteries with different voltages with the Arduino Nano

I am currently working on a rocket project and initially, I was going to use one battery to power the entire system. I was told that I should use two batteries with a boost converter because the Servos can cause voltage spikes and cause the Arduino Nano to reset. I created an updated diagram (Attached) that includes the boost converter and all the ground connected. Is this a practical way of going about this or is there a more efficient way to handle the voltage differential? And does this battery combination make sense?

The Components that I'm using
Arduino Board - Arduino Nano
IMU - MPU 650 - 3-5 V, 3.9 mA
Micro SD CARD - HiLetgo MicroSD card reader - 4.5-5V, 80-200 mA
Servos - SG90 Microservo - 4.8-6V, 250 mAh
LED - RGB Common Cathode LED - 5V, 250 mAh

Can you link to the technical data on your 5 volt battery?

A single 6v battery source (with sufficient capacity) should work when using a Boost or Boost/Buck converter powering the Arduino.

If you use a Boost converter, set it to 7v output and feed that to Vin.

If you use a Boost/Buck converter set it to 5v and feed the Arduino 5v pin.

I was thinking about just taking the case off of this one:USB Battery Pack - 2200 mAh Capacity - 5V 1A Output : ID 1959 : $14.95 : Adafruit Industries, Unique & fun DIY electronics and kits

Would I need a Boost/Buck converter when I connect the grounds from the two batteries?

Your thing will likely go to sleep when powering the Arduino, as the document says.

You will only need the one battery i.e. 6v, 4AAA or 4AA