Overwhelmed with Money? Let’s Simplify Your Next 5 Steps

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Whether you’re stuck living paycheck to paycheck or avoiding the numbers altogether, the hardest part is often just knowing what to do first.

I’ve been there too. I know what it’s like to feel like you’re treading water. But I also know it’s possible to turn things around. My wife and I paid off $43k in debt in 13 months and went on to build a $1M net worth, and it all started with the right plan.

Here are the first five steps I recommend to anyone starting their financial journey:

1. Be Honest About Where You Are

The hardest conversations are often with ourselves. The truth? It’s not outside factors holding you

back, it’s personal. But that’s also the good news: because it’s personal, you’re in control.

2. Assess the Challenges

Write down what feels painful about your finances, whether it’s endless debt, living paycheck to paycheck, or something else. Then, rank those challenges from most to least painful. By starting with the biggest one, you can focus on what matters most.

3. Set One Financial Goal

Focus on solving just one challenge to avoid overwhelm. Use the SMART framework to make your goal clear:

Specific: Who, what, when, why, and how?

Measurable: Use numbers (like $ or time).

Achievable: Is it realistic?

Relevant: Does it align with your bigger goals?

Time-bound: Set a deadline.

For example:

"In 6 months, I’ll pay off $1,500 in credit card debt. To do this, I’ll allocate $250/month by cutting unnecessary spending and being more intentional with my money."

4. Align Spending with Your Goal

Your goal becomes your North Star. Anything that helps achieve this goal, do more of. Anything that hurts achieving this goal, do less of.

Start with a 3-month look back to see where your money has been going. This quick snapshot often reveals spending habits that don’t align with your priorities.

The best part? Once you know where your money is going, you can take control and realign it with your goal.

5. Celebrate Small Wins

Every dollar saved or debt paid off is progress. Celebrate those wins, because momentum matters.

You don’t need perfection. You just need progress. Being directionally correct and taking action beats waiting for the “perfect time” to start.

I know this might feel overwhelming, but here’s the thing: you don’t have to do it alone.

If you're willing to share, what is the biggest challenge you have in your personal finances?

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