Is Your Financial Confidence Holding You Back?

A recent survey conducted by Talker Research on behalf of Zoe found that over half of Americans (53%) feel financially frozen—stuck, overwhelmed, or unsure about how to manage their money. The top reasons? Too much information online, uncertainty about where to start, and fear of making the wrong move.

So how do you move forward when financial paralysis sets in? Let’s break it down.

Why We Get Financially Frozen

The human brain wasn’t designed to process an endless flow of financial information. Yet, with social media platforms like YouTube (where 21% of respondents get financial information), we are constantly bombarded with conflicting messages about investing, budgeting, and retirement.

The problem isn’t a lack of resources—it’s an overload of choices. This can lead to feeling overwhelmed, which is why so many people put off financial decisions, even when that could hurt their financial future.

Where Americans Feel Stuck

According to the survey, 65% of people feel like they lack financial knowledge, with the main gaps including: 

• Navigating inflation & cost-of-living adjustments (25%): Rising prices make it difficult to budget effectively. 
• Investing (24%): Many don’t know where to start or worry about making mistakes. 
• Budgeting & saving (23%): Uncertainty about creating a plan that works. 
• Retirement Planning (22%): Fear of running out of money or not saving enough. 

These uncertainties lead to procrastination, and the longer people wait, the more financial stress builds up.

The Cost of Inaction

Avoiding financial decisions doesn’t just cause stress—it has long-term consequences. The study found that 77% of surveyed respondents regret past decisions and/or wish they had made different financial choices that could have set them up for a better future.

The top areas of regret?

• Not saving enough (55%) 
• Not sticking to a budget (41%) 
• Not investing sooner (38%)

3 Tips To Strengthen Your Financial Confidence

If you’re feeling financially frozen, these simple tips can help you regain clarity and take action:

1. Start small: Instead of trying to tackle everything at once, pick one area to focus on—whether it’s reviewing your budget, opening an investment account, or increasing your retirement contributions.
2. Find guidance you can trust: Many people hesitate to seek financial advice because they think it’s only for the wealthy—39% of respondents believe financial advisors are only for rich people. However, finding the right financial guidance can be valuable to optimize your wealth management strategy. 
3. Take one action today: The hardest part is getting started. Whether it’s setting up an automatic transfer to your savings or scheduling a call with a professional, small steps build momentum.

If you are part of the 83% of Americans who want to be better prepared financially, it’s not too late to take action. With the right guidance, you can cut through the noise, make informed decisions, and build a financial plan that works for your unique goals.

Don’t let your financial confidence hold you back! Find an advisor today.