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If you listen to financial podcasts, watch TikTok budgeting videos, or read investing tips from online “gurus” and still feel stressed about everyday money decisions, you’re not alone.
Understanding basic financial concepts is important, but knowledge alone (especially if you get too much information at once) may not help calm money worries. According to a recent study, financial knowledge tends to help more if you’re already confident about making money-related decisions.
But how do you get that financial confidence? It may be easier than you think. Building a series of small wins can establish positive habits and help you feel better about the progress you make over time.
Start Small and Build from There
Trying to improve every aspect of your finances all at once can backfire, making you feel overwhelmed or like you’re losing control. Instead, consider starting with small, practical actions that are achievable and sustainable. For example:
- Not saving yet through your workplace retirement plan? Start contributing today.
- Already contributing, but not taking full advantage of the company match? Boost your savings to maximize what you get from this “free money” benefit.
- Looking for an easy way to increase your plan savings over time? Many plans offer an “auto-escalation” feature that lets you increase your savings rate by a set percentage each year. It takes just a few minutes to choose a recurring date and increase amount, and it means one fewer thing to remember.
Over time, small financial accomplishments and consistent habits can add up and help you feel more comfortable and confident in managing your larger financial aspirations.
Progress Over Perfection
Financial confidence doesn’t come from “having all the answers” or a track record of perfect financial decisions. If you’re anxious about your finances, remember that making steady progress can be more powerful than aiming for perfection. Building on your small wins can give you the confidence you need to work toward your larger goals and handle any challenges you experience along the way.
Sources:
https://newprairiepress.org/cgi/viewcontent.cgi?article=1279&context=jft
https://corporate.vanguard.com/content/corporatesite/us/en/corp/who-we-are/pressroom/press-release-advice-pays-in-peace-of-mind-and-time-vanguard-survey-reveals-hidden-value-of-financial-advice-07072025/.html
All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful. This material is provided for general and educational purposes only. It is not intended to provide legal, tax, fiduciary, or investment advice. If you are seeking legal, tax, or fiduciary advice, consult an appropriate professional. This information does not create a professional or fiduciary relationship with Great Gray Trust Company, RPAG, or any of its representatives. Advisors are solely responsible for the use, and substance, of this content, and this material may not be distributed to any party aside from the advisor’s client.
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