I feel like this quote can be used in a dozen different ways on a dozen different topics. It is important to show others grace, and it as important to show yourself grace. Regarding finance, the most important part is to start making progress on your finances. Whether that is reducing your debt or increasing your investments; today is the day to start building a habit.
Often nerds like I am can get bogged down in the numbers and have analysis paralysis. They are afraid of making a 95% correct action instead of a 100% correct action that they don’t do anything and lose out on the 95%.
If you are paying off debt just understand that interest rates matter so you need to know them at some point, but if doing that little bit research is going to stop you from paying extra, and start making a dent in your debts, then just pick the smallest debt and pay on it. You may pay a little more interest, but paying off the smallest debt will open up some more room in your budget and provide you an early psychological win.
If you are investing and don’t know where to put your money then find a target date index fund with a low expense ratio. This is a one stop shop great (but not perfect) solution for almost all people. If you can buy this fund in an employer sponsored retirement account or Roth IRA then great. With tax benefited accounts please make sure that you do not make too much money to utilize one and only invest the max amount for that year or it may complicate your taxes.
However, the most important part is getting your money working as early as you can and a couple months later come back and read some more about investing.
You first step doesn’t need to be perfect, but it does need to be taken.
Millionaire Librarian 