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5 Steps to Building Financial Confidence

5 Steps to Building Financial Confidence

July 14, 2023

Beginning your financial journey is never an easy process, but here are 5 steps to help you build your financial confidence along the way.

  1. Establish your goals
  2. Create a budget
  3. Protect what’s important
  4. Eliminate debt
  5. Meet with your financial advisor


Step 1 – Establish your goals.

In order to have a successful financial plan, first you must know what you are trying to achieve. Both short-term and long-term goals are important and may have different priorities. A short-term goal might look like this: “I want to create a reasonable monthly budget and stick to it.” Whereas a long-term goal might be “I want to be debt free in the next five years.” There are different approaches to each form of goal, and different amounts of planning go into them. Create your goals first, then move to step two.

Step 2 – Create a budget.

If you are just starting out on your financial journey, creating a budget is a very strong start. Whether this is weekly, monthly, or annually, a budget can help keep your spending on track throughout your journey. If you already have a budget in place, it is always a good time to review it. Check out our article on Budget Check Up: Tax Time Is the Right Time for six steps to reviewing your budget annually.

Step 3 – Protect what’s important.

This could be your family, your assets, or your retirement plan. To protect your family, consider protection strategies such as life insurance. Life insurance protects you or your family financially in the case of your death or the death of your spouse. Don’t forget about managing your estate to protect your assets, too. It can be a scary topic, but meeting with your trusted financial advisor can help you develop a reliable plan. To protect your retirement plan, start with reviewing your current approach and the basics of social security. Being well-educated on the basics can help you when the time comes to retire.

Step 4 – Eliminate debt.

Debt tends to be one of the scarier topics when it comes to financial planning. Student loans are one of the most popular forms of debt as the American young adult exits college and enters the workforce. There are many types of repayment plans available for you, such as REPAYE Plan, IBR Plan, or even a PAYE Plan. Not sure where to start with debt repayment? See step five.

Step 5 – Meet with your financial advisor.

Meeting with a financial professional is a great way to start your financial journey on the right foot. Their experience and knowledge can guide you in the right direction with all the steps above and beyond. From asset management to estate planning, they are here to help you throughout all life stages.

To set up a meeting with your financial advisor at Malecki Financial Group, reach out to our scheduling coordinator Kara McClean at (732) 248-9400 x2001, or Want to learn more about how we can help you on your financial journey? Review our Services Overview and reach out with any questions!

We understand that your financial journey can be frightening, and we are here to help. Your financial confidence is our priority. We are committed to providing straightforward and comprehensive financial education to our clients, empowering you to understand the complexities of your financial situation and all the options available to you.


The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. Neither Cetera Advisor Networks LLC nor any of its representatives may give legal or tax advice.