Any journey toward financial fitness can be daunting, overwhelming, and intimidating.
The internet is full of recommendations about how to get started, where to put your money, and how much money you need (this blog included!).
Our friends and family have their own recommendations based on their own experiences. Hell, just about everyone we know has an opinion on where our money should go.
My two-cents…just take a baby step towards your financial priorities.
Make a small move in the direction of your goals.
Pick one, single priority. – Maybe you’ve been dreaming of a home, maybe you want to start investing for your financial independence, or maybe you want to pay off that annoying loan from five years ago.
Set any amount of money aside for this goal. – Five dollars a week, or $100 a month, or any amount you can spare. You don’t need a large amount of money to start, just anything.
Don’t worry about the interest rate you’re getting on your savings account. Don’t worry about how the stock market dropped yesterday. Don’t get lost in the details, just set the money aside.
Don’t fret about brokerage accounts or credit card points, all of these decisions will come later. We’re just building habits and seeing results.
Repeat. – Continue to put money into the savings account, anything you can add will be enough. If you miss a week or month, don’t get frustrated, don’t stop! Start again the next month.
Don’t worry about what others are (or aren’t) doing, this is personal. This is about YOU and your particular, nobody-else-matters goals!
Soon you’ll see the consequences of your work – progress toward your priorities; forward motion toward your financial goals. You may be motivated to contribute more money, take larger steps – you’ll be encouraged about the possibilities!
After more time, you’ll consider whether you need to invest your money or (for short-term goals) continue to keep in your savings account. But remember, for now…
All you need to do is start with a baby step.
How are you doing on your journey to being financially fit? Are you making progress, or being bogged down by the details?