Nearly half of Americans are delaying financial decisions. Many are waiting until the economy feels more stable, but this can leave your finances more vulnerable.
Start with moves you can afford now. Build a small emergency fund, attack high-interest debt, and contribute enough to capture your employer’s full retirement match.
Check for holes in your financial safety net. Review your insurance, deductibles and beneficiaries, and ask which unexpected expense would hurt your household the most.
Nearly half of Americans are waiting for the economy to feel safer before making an important financial move.
That's according to Mutual of Omaha's 2026 Protection Index Report, which found 46% are delaying a financial decision until the economy feels more stable. Just 21% are considered “Protection Confident,” down from 26% in 2023.
So what should you not put off?
ConsumerAffairs interviewed Nate Hobson, vice president of sales, Advisor Network at Mutual of Omaha, to find out.
“The challenge is that waiting can sometimes leave you more exposed,” Hobson told us. “You don't need a lot of extra money to start making progress.”
Here are four smart places to start.
1. Build a $500 'life happens' fund
You've probably heard that an emergency fund should cover three to six months of expenses. That's a great goal. It's also intimidating when you have $37 in savings. So, start smaller.
“Maybe it's setting aside $10, $25, or $50 a month to start building an emergency fund,” Hobson said.
Your first target could simply be enough to prevent an ordinary financial headache like a flat tire, veterinarian bill, or broken appliance from landing on a high-interest credit card.
The survey found emergency savings was one of the top things Americans associate with feeling financially secure.
Pro tip: Name your savings account something painful. “Emergency Savings” is easy to raid, instead try something like “Don't Put the Water Heater on Visa” or “Car Repair Fund.” Giving the money a specific purpose can make dipping into it for concert tickets or a new TV feel a lot less tempting.
2. Make expensive debt your financial emergency
If you're carrying a high-interest credit card balance, waiting for the economy to improve isn't going to stop the interest meter.
Hobson says putting even a modest amount toward a credit card balance can reduce debt and improve credit utilization.
And consumers clearly have debt on their minds. When survey respondents were asked what they'd do with an unexpected $1,000, paying down debt was the most popular answer, followed by adding to savings.
If you have several balances, consider directing extra money toward the debt charging you the highest interest rate while making minimum payments on the others.
Pro tip: Calculate your “interest rent.” Look at your latest credit card statement and find how much interest you were charged last month. Multiply it by 12. Seeing that you're potentially paying $900 or $1,500 a year just for the privilege of carrying debt can provide considerably more motivation than staring at an APR.
3. Don't accidentally turn down part of your paycheck
Retirement can feel like the easiest financial goal to postpone because you won't need the money tomorrow.
But there's one contribution you should be especially reluctant to skip which is the amount needed to capture your employer's full retirement match, if one is offered.
“If your employer offers a retirement match, that's an opportunity you don't want to overlook,” Hobson said.
If money is too tight for a major contribution increase, try moving the percentage up gradually. Going from 4% to 5% probably won't transform your paycheck. Repeating that move over several years could transform your retirement savings.
Pro tip: Give your next raise to your future self before you meet it. When you get a 3% raise, immediately send one percentage point to retirement. Your take-home pay still increases, but so does your savings rate. It's much easier than trying to cut spending later to find that same money.
4. Find the financial hole that could sink you
Some expenses are too big for even a healthy emergency fund. That's why Hobson recommends looking beyond savings and reviewing the insurance protecting you and your family.
Only 4% of Americans surveyed said they feel fully financially protected, even though 89% feel responsible for protecting their family's financial future.
Hobson says you may actually be in better financial shape than you think if you're keeping debt manageable, regularly saving something, and have appropriate insurance for the people who depend on you.
The warning signs that you’re struggling financially are fairly straightforward. “If one surprise expense could push you further into debt, saving keeps getting crowded out by other priorities, or you're unclear about whether your insurance would be enough when it matters, your financial safety net may have some gaps,” he said.
Review your life, disability, homeowners or renters, and auto coverage. Check your deductibles and beneficiaries while you're at it.
Pro tip: Do the “gone tomorrow” test. Ask yourself, “If my paycheck disappeared tomorrow, what bill would create the biggest financial disaster for my family?” Your answer can reveal whether your biggest weakness is emergency savings, debt, disability coverage, life insurance, or something else entirely.
You might be doing better than you think
One of the more interesting findings from the Protection Index is the disconnect between what Americans are doing and how secure they feel.
Despite low confidence, 57% are cutting nonessential spending, 54% use rewards programs, 39% compare prices or switch providers, and 38% follow a monthly budget.
Those aren't the behaviors of people who have completely given up on their finances.
The problem may be that financial security can feel like an all-or-nothing achievement: Either you've got six months of expenses saved, no debt, a huge retirement account and perfect insurance coverage…or you're failing.
Hobson's advice is much more practical. “Small steps, done consistently, can put you in a much stronger position over time.”