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Small Steps to Financial Wellbeing: Expert Advice

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  Published in Automotive and Transportation on Wednesday, February 18th 2026 at 11:26 GMT by WSB-TV
      Locales: Georgia, UNITED STATES

Wednesday, February 18th, 2026 - As economic pressures continue to mount for many households, financial literacy and proactive money management are becoming increasingly critical. Financial expert Denise Duffield Thomas recently emphasized the importance of small, manageable steps individuals can take to improve their financial wellbeing, even amidst challenging circumstances. Her core message: taking control of your finances doesn't require drastic overhaul, but consistent, mindful habits.

"People are really struggling, so I just want to give you some manageable things you can do now," Thomas stated, highlighting the current anxieties surrounding personal finance. Inflation, though cooling from its 2024 peak, remains a significant factor, and stagnant wages leave many families feeling squeezed. Experts predict continued volatility in the stock market throughout 2026, adding to the uncertainty.

Thomas's advice centers around four key areas: identifying spending leaks, aggressive negotiation of bills, automating savings, and initiating investment plans, even with minimal capital. These strategies aren't revolutionary, but their power lies in their accessibility and the cumulative effect of consistent application.

Uncovering Hidden Expenses: The Power of Tracking

The first step, and often the most illuminating, is to understand where your money is actually going. Thomas advocates for meticulous spending tracking, suggesting a period of one week to one month. This isn't simply about categorizing expenses; it's about identifying unconscious spending patterns. Many individuals are surprised to discover "leakage" - small, seemingly insignificant purchases that add up substantially over time. This could include daily coffee runs, subscription services rarely used, or impulse buys fueled by targeted advertising.

Several budgeting apps and digital tools now facilitate this process, automatically categorizing transactions and providing visual representations of spending habits. These tools, such as Mint, YNAB (You Need a Budget), and Personal Capital, can dramatically simplify tracking and offer personalized insights. However, Thomas stresses that even a simple spreadsheet or notebook can be effective.

The Art of Negotiation: A Forgotten Skill

Beyond tracking, Thomas urges consumers to be proactive in negotiating better rates for recurring bills. "Don't be afraid to pick up the phone and ask for a better rate," she advises. This applies to a surprising range of services, including insurance (auto, home, life), cable and streaming packages, cell phone plans, and even internet service. Companies often offer promotional rates to retain customers, but rarely offer them unless prompted.

Competition among service providers is fierce, and many are willing to negotiate to avoid losing business. Researching competitor rates before calling can strengthen your negotiating position. Additionally, loyalty can be leveraged - mentioning your long-standing relationship with a company may encourage them to offer a more favorable deal. The practice of negotiation is becoming increasingly prevalent, with dedicated online platforms now assisting consumers in lowering their bills.

Automate for Success: "Set it and Forget it"

Once spending is under control, the next crucial step is to automate savings. "Automate your savings! Set up a recurring transfer from your checking account to your savings or investment account," Thomas explains. This removes the temptation to spend the money and ensures consistent contributions toward financial goals. Even small, regular transfers can build a substantial nest egg over time.

Many banks and financial institutions allow customers to schedule automated transfers with ease. Consider setting up multiple savings accounts for different purposes - emergency funds, down payments, travel, etc. - to further streamline your financial organization.

Investing Early: Compounding's Magic

Finally, Thomas emphasizes the importance of investing for the future, regardless of income level. "Even small amounts add up over time," she says. "Start investing early, even if it's just $25 or $50 a month." The power of compounding - earning returns on your initial investment and on the accumulated interest - is significant over the long term.

Micro-investing platforms like Acorns and Stash have lowered the barriers to entry for new investors, allowing individuals to invest spare change or small sums in diversified portfolios. Exchange-Traded Funds (ETFs) offer a low-cost way to gain exposure to a broad range of assets. However, it's crucial to understand the risks associated with investing and to choose investments that align with your risk tolerance and financial goals.

Thomas concludes, "It is about forming habits. Once you have those habits in place, you're set for life." Her message is a reminder that financial wellbeing isn't about overnight success, but rather a commitment to consistent, positive financial habits. In a world of economic uncertainty, these habits offer a pathway to greater financial security and peace of mind.