Millennial Money: 6 empowering money moves

FILE - In this Aug. 11, 2019, file photo a man puts his Visa card on a stack of cards for a split check at a restaurant in New Orleans. Knowledge is power when it comes to finances. Still, most people dont know exactly where their money goes. Tracking your spending for one month will help you identify habits and spot excess expenses, says Colin Walsh, CEO of Varo, an online bank. (AP Photo/Jenny Kane, File)

Raise your hand if you feel confident about your finances. Not feeling it? That’s OK.

Perhaps you’re among the 60% of Americans living paycheck to paycheck, or one of the 81.6 million paying off student loan debt.

It’s hard to feel confident when your loan balance doesn’t seem to budge and you’re fishing through the couch cushions for spare change to put gas in your car.

But you can gain some control over your finances, bit by bit, until that confidence comes. These six empowering money moves will help you build momentum with small gains.

1. TRACK YOUR SPENDING FOR ONE MONTH

Knowledge is power when it comes to finances. Still, most people don’t know exactly where their money goes. Tracking your spending for one month will help you identify habits and spot excess expenses, says Colin Walsh, CEO of Varo, an online bank.

“By keeping track of each and every purchase you make … you can more easily start to see how small purchases here and there add up,” Walsh says.

Once you know where your money is going, you can make informed decisions about where you want it to go, giving you a sense of purpose with your spending. You might even decide to keep on tracking.