Financial Literacy Month: Practical money habits

April is Financial Literacy Month, which makes it a great time to take a step back and think about what financial wellness really looks like in everyday life. It is not just about numbers. It is about building habits that create clarity, reduce stress, and support better decisions over time. We sat down with our very own CFO, Jim Mann, to get his perspective on the habits, goals, and mindset shifts that matter most. His advice is simple, realistic, and relevant whether you are just starting out or looking to strengthen your financial foundation.

Here are five simple financial habits Jim says can make a meaningful difference over time:

1. Organization

If you don't have a way to track your finances, it becomes much harder to understand where you stand or where you are headed. A simple system for monitoring spending, savings, and progress can make a big difference.

2. Intentionality

Personal finance is personal for a reason. According to Jim, people should make sure their money is going toward what actually matters to them, rather than reacting impulsively or spending without a plan.

3. Save consistently

The amount may change depending on someone’s situation, but the habit itself matters. Even small automated transfers into savings can help build momentum, resilience, and confidence.

4. Avoid high-interest debt when possible

Debt with steep interest rates can grow quickly and make it harder to reach other financial goals. Reducing that burden creates more flexibility in the future.

5. Automation

Finally, Jim recommends automating as many long-term financial decisions as possible. Automatic savings, automatic retirement contributions, and automatic bill pay remove some of the emotion and friction from money management. In his view, systems often work better than willpower.

Taken together, these habits can make money feel simpler, more predictable, and less overwhelming.

What realistic financial goals actually look like

For many people, financial goals can feel overwhelming because there are so many competing priorities. Debt. Savings. Retirement. Emergency expenses. Homeownership. Day-to-day life.

Jim’s advice is to start with a structure that is practical and flexible.

One framework he recommends is the 50/30/20 rule. In general, that means allocating 50 percent of after-tax income to needs, 30 percent to wants, and 20 percent to savings and investments. Needs include essentials like housing, food, transportation, healthcare, utilities, and minimum debt payments. Wants cover more discretionary spending such as entertainment, dining out, travel, and subscriptions. Savings and investments include emergency funds, retirement contributions, and other future-focused financial goals.

The idea is not rigid perfection. It is creating a healthier default. Jim encourages people to “pay yourself first” by automating savings before spending what remains. Of course, not everyone can start by saving 20 percent. If that number feels out of reach, the goal is to start with what is possible and increase over time. Look closely at spending habits, save a good portion of bonuses or raises, and redirect money from paid-off debt into savings instead of expanding lifestyle expenses. Progress matters more than starting at the ideal ratio.

One of the biggest financial mistakes? Letting emotions take the lead

Even smart, capable people can make poor financial decisions when emotions are in control. Jim says fear, greed, insecurity, loss aversion, and FOMO can all distort decision-making. That is why understanding your own emotional triggers is such an important part of financial health.

The simplest way to guard against emotional decision-making is to create systems that support better choices. That could mean automating rules, learning more about your options so decisions feel less intimidating, or talking things through with a trusted advisor or accountability partner. In other words, financial confidence is not just about knowledge. It is also about self-awareness and structure.

If you are early in your career, begin here

When asked what he would do first if he were starting over at the beginning of his career, Jim’s answer was straightforward: He would learn the difference between Traditional and Roth retirement accounts and begin building a contribution strategy from there. He would also prioritize building an emergency fund. Financial stability is usually built through a series of foundational choices, not one big breakthrough moment. Learning the basics early and putting a small plan in place can make a huge impact!

Why financial support in the workplace matters

Financial wellness is personal, but employers can still play an important role in supporting it. At Populus Group, access to financial guidance has helped employees navigate major life decisions with more confidence. In a recent experience, one of our climbers, Renee, shared the following:

"I worked with Adam at CAPTRUST to explore all of our options for financing a new vehicle, including the pros and cons of utilizing a 401k loan, a 401k withdrawal, or deferred compensation plan. Adam was patient and explained everything clearly that we felt confident in which option was best for us. His follow-up email summarized our discussion easily for future reference. We appreciated the ease of booking up a 1:1 with a CAPTRUST professional and how quickly we were able to set up a call." ​​

That kind of support matters because financial decisions happen during real life, when people are balancing priorities, weighing tradeoffs, and trying to make the best choice for their future.