An Affordable and Free Way to Get Your Finances on Track

I was chatting with a prospect recently and asked them about their personal financial challenges. They clearly knew their stuff. They talked about the importance of tracking expenses, budgeting, investing, and maximizing their employer’s 401(k) match. They even touched on how vital it is to have open and honest financial conversations with their partner. “Wow,” I thought. “This is incredible. Even I’m learning new tips and tricks.” 

As we kept talking, I realized they already had a great handle on the "what" and the "why" of personal finance. That’s when I asked them, "If you already know all of this, what do you need me for?" That’s when we uncovered the real roadblock: It wasn’t a lack of knowledge. They just didn't know how to actually get started. 

If that feels familiar, please know you aren't alone. I hear this from almost everyone I talk to.

Think Decades, Not Days

Building financial savviness is a lot like going to the gym. Cliche I know but it’s cliche for reason. Results truly come from being consistent over time. We often feel pressured to "fix" our entire financial life in a single session. That often leads to a whole day focused on finances, followed by another month of... well, you guessed it... burn out and whole bunch of nothingness. In my opinion, true financial success is measured in years and decades, not minutes, not hours, and not even days. Your financial plan is a marathon, and it requires a steady, manageable pace as you grow and evolve as a person.

The "Laughably Small" Strategy

Ok back to the original question: how do you actually get started without burning out? I suggest a simple, low-pressure approach:

• Acknowledge the Timeline: Remind yourself that this process is meant to take a long time. Breathe. Time is on your side. There is no finish line you need to cross by Friday.

• Find Your "Laughably Small" Goal: Ask yourself, "What is the smallest amount of time I can spend on my finances this week?" For example, spend just 15 minutes this week outlining a budget or reviewing a credit card statement. Yes, you read that right: 15 minutes just this week. It should feel so easy that you almost laugh at how little effort it requires.

• The Four-Week Test: Commit to it for four weeks.

• Level Up: If you successfully stuck to your plan for a month, increase it just a little (emphasis on little)—maybe to 20 minutes.

IMPORTANT: Now for the Hard Part

The biggest mistake I see is people jumping from 15 minutes to two hours overnight. If 15 minutes feels like too much with how busy you are, stick with your 15! There is no need to beat yourself up. You have next month, next year, and even the next decade to grow. Acknowledge this just might not be the right season to put in more time, and that is okay! In fact, I’d prefer this acknowledgement than to force you try to "grind it out" just because you feel you have to.

Let’s put it another way and look at the math (my favorite part): If you spend just 15 minutes every week on your personal finances, that’d be 13 hours a year. With 20 minutes, it’s over 17 hours! As I explained to my prospect, with this amount of time a you can create a budget, have a phenomenal grip on where your money is being spent every month, an investment plan, and an idea on your retirement goals. 

But the hard part is remembering the goal and sticking with it: staying consistent over time. Read it again: be consistent over time.