Why Consistency Is Key to Financial Stability
Written by
Cindy Lamothe
Edited by
Amber Barkley
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
At the beginning of the year, many people make plans to get rich quick. They consider investing in trendy stocks or making other big money moves. But in fact, it’s consistency that will get you the furthest, experts say.
“Achieving financial stability is a lot like achieving any goal — it requires repeated small actions that will push you closer to your ultimate goal,” said Kathleen Craig, former banker and founder/CEO of Plinqit.
She explained that it’s never a single action or step, but rather behaviors on repeat over time, like saving a fixed amount from each paycheck, that create powerful momentum and a solid foundation for financial growth.
“Large investments can be risky and require careful timing, whereas consistent savings and financial planning allow for flexibility in case of market shifts or changes in personal circumstances,” she said. “Not only is it easier to manage household finances when behaviors are more consistent, but it also encourages long-term thinking about your financial future. A steady approach to savings also allows time to work in your favor, thanks to compound interest.”
Below, experts explain why consistency is key to reaching that lofty financial stability.
Regular Deposits to High-Yield Savings Accounts Offer Significant Rewards
According to Craig, high-yield savings accounts (HYSAs) are a reliable way to help one’s money grow quickly while keeping it liquid. “Unlike other savings vehicles and investment products, high-yield savings accounts offer competitive returns with fewer restrictions, which makes it easy to access funds when needed.”
Rather than bursts of deposits when extra funds are available, she said regular deposits into an HYSA can really deliver on the “yield” part of high yield.
Scheduled Maintenance Prevents Asset Devaluation
“In my experience, consistency in maintaining assets like homes and vehicles prevents costly repairs and prolongs their lifespan,” said Max Avery, chief business development officer at Syndicately.
He noted that regular upkeep ensures that your investments retain value, protecting your financial stability. “For instance, regular oil changes and tune-ups for your car can prevent more expensive issues in the future, and consistency in maintaining timely repairs around your home can avoid major damage and costly renovations.”
Routine Debt Payments Accelerate Payoff
“Consistency in paying down debt, even at a minimum level, reduces the principal and interest over time,” said Avery.
He said a structured repayment plan prevents debt from spiraling out of control and helps you regain financial freedom. “I suggest paying even a small amount each month, like $50 towards credit card debt, to save you from accruing large interest charges and make it easier to clear the balance.”
Predictable Cash Flow Reduces Stress
“I would point out that maintaining consistent spending patterns and income streams allows you to predict and plan for future expenses,” Avery explained.
He said this stability minimizes financial stress, as you’re less likely to encounter surprises that derail your budget.
“According to research by the American Psychological Association, financial stress affects mental and physical health, strains relationships and can lead to poor decision-making,” he explained.
More From GOBankingRates
