First 5 Steps to Take Control of your Finances

Getting Started
Written By Adam Gray

Taking control of your finances can feel intimidating — but the truth is, it’s not about being perfect or having it all figured out. It’s about making small, intentional choices that add up over time. Whether you're starting from scratch or just need a reset, these first five steps will help you build a strong foundation.

At Saving Sense, we believe that starting small makes a big difference — because saving early just makes sense.

1. Get Clear on Your Current Financial Picture

Before you can improve your finances, you need to know exactly where you stand. Grab a notebook, your bank app, or a spreadsheet and write down:

✔ Your income (after taxes)
✔ Your monthly expenses (bills, groceries, subscriptions)
✔ Your total debts (credit cards, loans)
✔ Your savings (even if it's $0 — that's okay)

Pro tip: Don’t stress over the numbers. This is simply a snapshot — knowledge is power.

2. Track Your Spending for 30 Days

It’s easy to underestimate those little purchases — coffee runs, takeout, online shopping. But tracking your spending shines a light on habits you can adjust.

Apps like Mint or EveryDollar make this process easy. Prefer pen and paper? That works too!

3. Create a Simple, Realistic Budget

Think of a budget as your financial roadmap — it tells your money where to go. It doesn’t need to be restrictive, just intentional.

Start with your needs, wants, and savings. Many beginners like the 50/30/20 rule. You can refer to this post for a bit more details on this.

Adjust these numbers to fit your situation — the point is to start.

4. Build a Starter Emergency Fund

An emergency fund is your financial safety net. Begin with a small, achievable goal — experts like Dave Ramsey recommend $500 to $1,000 to cover life's surprises (Ramsey Solutions, 2023).

Can’t set aside that much all at once? No problem. Even $10 a week adds up over time. Remember: small, steady progress makes Saving Sense.

5. Make a Simple Debt Plan

Debt can feel overwhelming, but with a clear plan, you can tackle it step by step. Two popular strategies:

✔ Debt Snowball: Pay off the smallest debts first for quick wins
✔ Debt Avalanche: Focus on the highest-interest debts to save more money overall

Tools like Undebt.it help map out your payoff journey.

Final Thoughts: You’re More in Control Than You Think

Taking control of your finances isn’t about perfection — it’s about progress. With these five steps, you’re already building financial confidence and peace of mind.

Small steps now = big freedom later. That’s the heart of Saving Sense.

Helpful Resources & References

Adam Gray
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Personal Finance 101: A Beginner’s Guide to Managing Money