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Money Minute
Quick Tips
Small Steps
Money Minute
When you break down large financial goals into smaller actionable steps, you may be surprised how much progress you can make.

In a recent article in The New York Times, Carl Richards wrote about breaking down large (and often intimidating) goals into smaller actionable steps or “micro-actions”. For example, take larger goals like “creating a budget” and start with something small and manageable like “finding out how much money you make each month.” You can break down that step even further to the micro-action of simply “looking at your latest pay stub.” Surely, taking a look at your last pay stub is not that difficult compared to the larger goal of “creating a budget.”

Likewise, if your goal is to “get rid of your debt,” perhaps your micro-action is to first “look at your credit card bill.” The following action might be to “enter the amount you owe into a spreadsheet.” And if you want to break things down even further, your next action could be simply getting to a computer and opening the spreadsheet program. Again, start with really small steps, and you’ll soon find that you’re making a bit of progress each and every day.

Ultimately this is not a revolutionary idea, but when you put this concept into practice, it can make a real difference. If we just take one small step at a time, we’ll eventually look back and be surprised at how far we’ve come.

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