This Week's Money Talking Points
1. How important is time in our financial plan?
Time is everything when it comes to building your financial future. Lori reminded me that personal finance is basically one big trade-off between the short term and the long term. It’s asking yourself: Can I give up a little now for a bigger payoff later? That might mean skipping a dinner out or holding onto your older car so that Future You can retire comfortably or finally take that dream vacation. The tricky part? That “later” always feels so far away, until it doesn’t.
Here’s the good news: you don’t have to overhaul your life overnight. Even small, consistent actions snowball over time. Saving $50 a month into a high-yield savings account or starting with just 1% into your 401(k) matters more than you think. Time is the superpower of your money. The earlier you start, the more that money works for you. But if you’re starting later, the habit still counts, and the wins can still add up quickly.
2. How do I recognize if I am starting late?
Feeling behind doesn’t always mean you actually are behind. A lot of us feel late just because we’re scrolling past our college friends’ new houses, big SUVs, or European vacation pictures. That’s not always a financial problem; that’s FOMO. Lori made a great point: ask yourself if your feeling comes from comparison or from a real gap, like not having an emergency fund or any retirement savings.
If you want a clear checkpoint, look at the foundations:
- Do you have $1,000–$2,000 set aside for life’s little curveballs?
- Are you saving at least 15% (including any employer match) toward retirement?
- Are your rent or mortgage and other fixed obligations under 42% of your take-home pay?
If the answer to some of these is “no,” that just tells you where to focus; it doesn’t mean you’ve failed. I’ve seen people start in their 50s and still catch up with a clear plan. Hit reply and let me know, do you feel behind because of FOMO, or because of an actual gap in your finances?
3. How do you get ahead of your finances if it feels like you’re behind?
The first step is to breathe and zoom out. You can’t sprint up the whole staircase to financial freedom in one leap. It’s step by step. Lori and I talked about focusing on the basics first: spend less than you earn, get control of your housing costs, and start with small savings wins. If your rent is eating 60% of your income, no amount of coffee-cutting is going to fix that. Sometimes the “getting ahead” move is as big as finding a roommate or as small as automating $50 into savings.
I love using the three-bucket approach we discussed:
- Fixed monthly bills (easy to predict)
- Annual or semi-annual needs (car insurance, holidays, memberships)
- Your flexible, fun spending pool
If you keep your spending inside those guardrails, you’ll start to feel in control, even if the numbers aren’t perfect yet. When that first little emergency fund hits $500 or $1,000, it’s like taking a deep, full breath for the first time.
My wife and I are still figuring out that balance between living today and planning for tomorrow. There are months when I watch the spreadsheet like a hawk, and months where we’re squarely in an “off-ramp” season because life just costs more for a while. It’s a tricky balance, and we’re learning as we go. If you’ve got tips for staying motivated without feeling overwhelmed, I’d love to hear them.
Screenshot the talking point that hits you hardest and share it with a friend. Then go have a money talk!
And if this is the season where you need help getting your cash flow under control, schedule a free Money Talk with me. I’ll help you set up a simple, flexible system you can actually stick with.
This week's Money Buddy
Lori Atwood is the founder and CEO of Fearless Finance and a CFP® professional. Lori created Fearless Finance to make expert, fiduciary, hourly financial planning accessible to everyone with no sales, no minimums, and no judgment. Lori’s been in finance for over 25 years, starting in investment banking, asset management, and private equity before starting Fearless Finance in 2016.
Enjoy your week and get out there and have a money talk!
