Pete the planner: If you’re spinning your wheels, it’s time for a course correction

Just because you go to the gym doesn’t mean you’re getting stronger. You could be scrolling between sets, chatting up the guy who insists on deadlifting in sandals, or walking in circles around the squat rack pretending to be stretching out a tight quad.

Same thing with your money.

You might be paying bills, checking balances, moving a few bucks into savings when you remember, and yet still be going nowhere. It feels like progress. But it might just be financial cardio: lots of motion, very little gain.

It’s a subtle trap. You’re engaged with your finances. You’re doing things. You’re trying. And that should be enough, right? But like a treadmill that goes nowhere fast, activity isn’t the same as advancement.

So why do we feel stuck even when we’re trying hard?

Because personal finance has a sneaky way of rewarding activity with a sense of accomplishment, even when there’s no measurable change. Checking your credit card balance for the seventh time this week doesn’t lower the balance. And transferring $100 to savings just to pull it back out on Friday doesn’t build stability; it just builds stress.

Real financial progress is different. It’s boring. It’s quiet. And it rarely gives you the same dopamine hit as moving money around or tweaking your budget for the 19th time. But it is trackable.

I love a good spreadsheet. I do. But you don’t need one to know if you’re getting somewhere. The trick is focusing on a few numbers that matter and being honest about how you feel.

Start with your net worth. Is it growing? Then look at your saving rate. Are you consistently saving at least 15% to 20% of your income? One of my favorite indicators is Power Percentage: your total savings and debt reduction for the month, divided by your gross income. If it’s above 20%, you’re doing well. If it’s below that, don’t panic, but it’s time to nudge it upward. And, of course, check your debt. Is it going down and staying down?

These numbers give you a clear picture of whether your financial health is moving forward or just meandering. But metrics aren’t everything.

Progress also has a feeling. You sleep better. You stop bracing for overdraft notifications. Your money conversations go from panicked to productive. You make decisions with confidence instead of crossing your fingers and whispering “YOLO.” That feeling? That’s progress, too.

So where are you right now?

We all had goals in January. They were ambitious. Optimistic. Full of energy and color-coded categories. But now we’ve got six months of receipts, some Amazon boxes we don’t remember ordering, and maybe a little guilt. Also, did I mention the economy and markets have been a bit distracting? To be honest, if you’re off-track right now, you’re in the majority.

That’s OK. That’s normal. Midyear isn’t a time for shame; it’s a time for a compass check. This is the perfect moment to ask: What did I say I’d do this year? What have I actually done? What got in the way? And what needs to change?

Here’s a simple challenge to get back on track: Take 10 minutes this week to calculate your Power Percentage. Pull up your last full month of bank activity. Add up how much went to savings, retirement contributions and extra debt payments. Divide that number by your gross monthly income. That’s your Power Percentage. If it’s under 20%, aim to increase it 1% to 2% each month.

Then, reset your goals. Not the New Year’s resolution kind—the “I actually live in the real world” kind. You’ve got six months. That’s plenty of time to make this your most financially stable year yet. But only if you stop mistaking motion for progress.

I get it. I’ve spent time being busy with my money and calling it progress. I’ve fiddled with budgets, reallocated funds and congratulated myself for small wins that didn’t move the needle. We all have.

The goal isn’t to be perfect. It’s to be better.

Don’t wait until December to find out you’re off course. Check your financial compass now, then start walking in the right direction.•

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Dunn is CEO of Your Money Line powered by Pete the Planner, an employee-benefit organization focused on solving employees’ financial challenges. Email your financial questions to [email protected].