How to get your finances back on track

What you need to know to help you make it.

VIEW IN BROWSER | SUBSCRIBE     WED, MAR 2, 2022 Alicia Adamczyk is a senior money reporter at CNBC Make It, covering consumer issues, investing and digital financial communities. You can follow her on Twitter @AliciaAdamczyk. A quick note to start: This will be my last newsletter for CNBC Make It, and Money Reporter Nicolas Vega will take over from here. I've had a lot of fun writing to you all here over the past year — hopefully you've enjoyed reading them. Now, onto this week's main programming.   Since writing last week's newsletter, I've been thinking a lot about cynicism. With so many competing worries — inflation, a shaky stock market, debt repayment — it can be easy to believe we'll never get ahead, and write off certain financial goals as impossibilities. Especially when things keep going wrong and we're inundated with bad news.   When I feel overwhelmed, I question the benefits of doing any of the things I'm "supposed" to do with my money, like watching my spending and saving for the future. But giving into this cynicism only makes things worse, in my experience.   If you've fallen behind in some financial areas — say, you've accrued debt, or your emergency fund is less than you'd like it to be — getting back on track can seem like an impossibility. But that's rarely true, financial advisors say. "Focus on the things you can control," says John Loyd, a Texas-based certified financial planner. "Tomorrow is a new day. Hiccups along the way are bound to happen, so expect them."   Many financial advisors suggest focusing on one goal at a time, since it's easier to manage than worrying about everything all at once.   It helps to pinpoint your biggest source of financial stress. Is it your spending? Your retirement balance? A high-interest loan hanging over your head? Addressing whatever is affecting your mental well-being the most should be your top priority.   The first step is always the hardest, says Marco Rimassa, another Texas-based CFP.   "The smaller the pieces you can break a problem down into, the easier it will be to create a solution to that piece," says Rimassa. "It may not be easy or quick, but solutions will then build on solutions."   Once you've made progress on your primary goal, pick another problem to work on. Taking even small steps forward can ease anxiety and inspire you to keep moving.   "We are emotionally driven, getting us in trouble," says Ashley Folkes, an Alabama-based CFP. "Fear of retirement, debt, the stock market and inflation can certainly create fear, but we can't let it paralyze us."   Have a friend who might appreciate this type of content? Please forward it along! Trending articles from CNBC Make It The most likable people always avoid these 13 communication mistakes, say speech and words experts This 'Shark Tank' side hustle had almost zero revenue — here's why Mark Cuban invested anyway How much will you make in your 30s and 40s? Here are the best- and worst-paying college majors Four-day work weeks: The countries in Asia that are open to it — and the ones that aren't 38% of workers still experience harassment remotely—here's what employers can do about it Unsubscribe Manage Newsletters Digital Products   Feedback Terms of Service Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBC Universal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS