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Hello Reader,
It’s Bola here.
People often ask me what the biggest financial mistake is.
They expect me to say credit card debt, or not investing, or overspending.
And while those things can absolutely cost you money, I've come to believe that the most expensive financial mistake is actually something much simpler: Waiting.
Waiting until you feel ready. Waiting until you make more money. Waiting until you know enough.
I've seen it happen over and over again. Not just in the women I've taught through Clever Girl Finance, but in conversations with friends, readers, and even in my own life.
The challenge with waiting is that it often feels productive. We tell ourselves we're researching, preparing, planning, or thinking things through. But sometimes what we're really doing is postponing action because we're afraid of getting it wrong.
The problem is that while you're waiting, time keeps moving.
Waiting until you feel ready
One of the biggest myths about personal finance is that confidence comes first but it usually doesn't. Most of the time, confidence comes after you've taken action.
Think about the first time you created a budget, invested money, negotiated your salary, or started a side hustle. Chances are you didn't feel completely confident before you started. You became more confident because you started.
Unfortunately, many people spend years waiting for certainty before they make a move. They want guarantees that everything will work out perfectly before they begin.
But wealth building doesn't work that way.
There will always be something you don't know. There will always be some level of uncertainty. If you wait until you feel completely ready, you may end up waiting far longer than necessary.
When I look back on my own life, I can't think of many meaningful things I felt completely ready for before I started.
I wasn't completely ready when I launched Clever Girl Finance.
I wasn't completely ready when I wrote my first book.
I wasn't completely ready for many of the financial decisions that ultimately helped me build wealth.
What happened instead was that I took action, learned along the way, made mistakes, adjusted, and gradually became more confident.
Confidence is often the result of action and not the requirement for it.
Waiting until you make more money
This is another one I hear all the time...
"I'll start investing when I earn more."
"I'll save when my income increases."
"I'll focus on building wealth once I get my next promotion."
The truth is that earning more money can absolutely help but a higher income doesn't automatically create better financial habits.
I've met women earning modest incomes who are excellent savers and investors. I've also met women earning six figures who still struggle to manage their money effectively.
The habits you build now are often the same habits you'll take with you when you earn more. That's why starting where you are matters.
Maybe you can't invest thousands of dollars right now. But can you start with $50? Can you start with $100? Can you begin building the habit?
Small beginnings have a way of turning into something much bigger over time.
Waiting until you know everything
This one shows up everywhere.
People delay investing because they think they need to understand every market trend. They delay starting a side hustle because they think they need the perfect business plan. They delay saving for retirement because they don't understand every account option. They delay buying a home because they're trying to predict exactly what the market will do next.
The reality is that you do not need a PhD in personal finance to get started.
You do not need to know everything before taking your first step. You simply need enough information to make a thoughtful decision and move forward.
You can continue learning as you go. In fact, that's exactly how most successful people learn. They take action, gain experience, adjust, and keep moving.
What waiting actually costs you
The reason waiting can be so expensive is because the costs aren't always obvious.
When you delay investing, you lose time for compound growth to work in your favor. When you delay saving, you postpone building financial security. When you delay pursuing opportunities, you miss experiences that could help you grow. And perhaps most importantly, when you constantly delay taking action, you lose confidence in yourself.
Every time you follow through on a goal, you build trust with yourself. Every time you postpone something important, it becomes easier to keep postponing it.
That's why waiting often costs far more than money.
It can cost you momentum.
What to do instead
If you've been putting off an important financial decision, here are three things I'd encourage you to do:
1 - Start before you feel ready
You do not need perfect confidence to begin. Most people gain confidence through action, not before it.
2 - Focus on your next step, not the entire journey
You don't need to know everything about investing to open an investment account. You don't need a complete business roadmap to start exploring a side hustle. Focus on what's directly in front of you.
3 - Allow yourself to learn as you go.
Very few people start out as experts. Give yourself permission to be a beginner. That's where everyone starts.
One final thought
I've learned that wealth building isn't usually about making one perfect decision. It's about making many imperfect decisions, learning from them, and continuing to move forward.
The women who make progress aren't necessarily the smartest, wealthiest, or most experienced. They're often the women who simply decided to start.
A question for you
What is one financial decision you've been putting off that you can finally take action on this month?
Maybe it's opening that savings account.
Maybe it's increasing your retirement contributions.
Maybe it's taking an investing course.
Maybe it's finally starting that side hustle you've been thinking about for years.
Whatever it is, don't wait for the perfect moment. Take the next step. Your future self will thank you!
Ready to stop waiting and start building wealth intentionally? Check out my book, Clever Girl Millionaire. It's filled with practical strategies, mindset shifts, and action steps to help you move from thinking about your goals to actually pursuing them. You can find it wherever books are sold.
Ready to take the next step?
If this newsletter reminded you of a financial goal you've been putting off, don't let it become another thing you "get to someday."
Whether you want to start investing, build your savings, create a budget, pay off debt, or simply feel more confident with your money, we've got free resources to help you get started.
At Clever Girl Finance, you'll find 30+ free courses, 40+ worksheets, free mentor calls, and a supportive community of women taking action on their financial goals every day.
👉 Explore our free resources here: clevergirlfinance.com/courses
📺 On YouTube
Tune in to this YouTube video on, The 4 Pillars of Wealth That Made Me a Millionaire (It’s Not Luck)
Be sure to check out the Clever Girl Finance YouTube channel for more great videos!
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Talk soon ❤️
Bola
