Financial essentials
How to build financial wellness into your life
Building healthy financial routines early can set you up for greater stability and confidence later.
Summary
Financial wellness is built one small action at a time. Here’s how to begin.
- Start by tracking all your spending for a month to understand where your money is going.
- Set up automatic transfers into a savings or retirement account so you can stay steady over time.
- Create an emergency fund. Start with $500 and move to covering three months of living costs.
- Stay the course—keep saving and contributing even in very small amounts.
- Review and adjust your financial plan when life changes.
Create your own sense of security
For many young adults, financial wellness can feel confusing because it’s not taught in many U.S. schools. Financial wellness refers to your relationship with money and how it affects your life. In addition to having enough to support your lifestyle, financial wellness means feeling confident about managing money and secure about your financial future. But between bills, saving for the future, and the constant flow of online advice, it’s normal to feel uncertain about where to begin.
Many Gen Z adults say they struggle to save for retirement simply because they don’t know where to get started.1 And they’re not alone: over half of adults ages 18-29 report feeling anxious about money, even though most want to learn practical ways to manage it better.2
The good news is that you don’t need a finance degree to build a healthier relationship with money. You only need a few intentional habits that fit your lifestyle.
1. Start with awareness
Financial wellness begins with understanding where your money goes. Track your spending for one month, including every coffee, subscription, and bill. The goal isn’t to judge your habits but to uncover your patterns.
Young adults who track their spending regularly report lower stress and greater confidence.3 Awareness helps you feel more in control, and greater control can reduce anxiety.
2. Automate what matters most
Automation makes saving simple. Set up recurring transfers into a savings or investment account, even if it’s just $15 per paycheck.
Small, consistent contributions add up over time. Automation also helps keep you on track when life gets busy.
If your employer offers a retirement plan with a matching contribution, contribute at least enough to earn the match (some companies contribute to your retirement account on top of what they already pay you in salary, often “matching” a percentage of your contribution). If you’re self-employed or working a side hustle, consider opening a Roth IRA or SEP IRA. Your future-you will thank you.
Trying to get your money right, but not sure where to start?
I've got you.
Whether you're just starting your career or hitting reset, here are five smart financial habits.
First up, set goals that stick.
That means goals that are specific, measurable, achievable, relevant, and time bound.
Don't just say “I want to save more money.”, say “I'll save $50 a month for six months.”
Now you've got a plan.
Next, make a spending plan.
Forget budgeting guilt.
This is not giving your money a purpose.
A good plan helps you focus on what matters and avoid those
“Where did my money go?” moments.
Then, split your income wisely.
Try the 50/30/20 rule. 50% for needs, 30% for wants, and 20% for savings or paying off debt.
The real key, make it work for you.
You need an emergency fund.
Even $500 to $1000 set aside
can save you from putting surprise expenses on a credit card.
And finally, make it a habit.
Track your spending.
Automate your savings.
Consistency is greater than perfection.
Bottom line, smart money habits aren't about being perfect.
They're about being intentional.
Your financial future is in your hands, and it starts with one good move at a time.
Hit that like and subscribe and follow @TIAA for more ways to take control of your money, one smart decision at a time.
Smart money starts here.
3. Build a buffer
Unexpected expenses are part of life, but they don’t have to derail your plans. Start by saving at least $500 for emergencies, then work toward covering three months of essential living expenses.
Even a small emergency cushion can reduce financial stress and boost confidence. Each deposit can bring you closer to peace of mind.
4. Focus on progress, not pressure
Social media often portrays money as something you should master instantly. Sustainable wealth comes from steady progress. Whether you’re paying down credit cards or saving your first $1,000, every step counts.
Consistent savers, no matter the amount, tend to experience stronger long-term financial stability than those who save sporadically.
5. Keep learning as life evolves
Your money script will change as your life does. Promotions, new jobs, side hustles, and major life moments are all opportunities to revisit your goals.
Look for trusted guidance, join workplace wellness programs, and attend online webinars that explain everyday money decisions, and explore resources created for early career workers. If you are transitioning into the workforce this may include guidance on
When financial wellness becomes part of your daily routine, you’re not just managing money. You’re building a foundation for freedom, security, and a future that reflects what matters most to you.
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1 TIAA,
2 Making Caring Common,
This material is for informational or educational purposes only and is not fiduciary investment advice, or a securities, investment strategy, or insurance product recommendation. This material does not consider an individual’s own objectives or circumstances which should be the basis of any investment decision.