Building Financial Habits | Dr. Jay Zigmont, CFP®, and Fiona Waller, MSW, LCSW, CFP®

Jan 8, 2026

In this insightful discussion, guests Dr. Jay Zigmont, a CFP® expert on adult learning, and Fiona Waller, a Childfree Wealth Specialist® and clinical social worker, explore how our mental habits shape financial success. They emphasize that 80% of personal finance relies on behavior, not just numbers. All-or-nothing thinking can hinder progress, while focusing on small, incremental improvements leads to sustainable change. Fiona highlights the importance of self-compassion and support systems in transforming financial habits for a fulfilling childfree life.

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INSIGHT

Behavior Beats Spreadsheets

Financial success is driven mostly by behavior and mental models, not spreadsheets.
Jay Zigmont says 80% of financial success comes from how you think and act, so focus there first.

INSIGHT

Celebrate Small Wins

Small, measurable improvements compound and keep motivation even when big wins are rare.
Jay Zigmont uses a NASCAR example: focus on getting one car better instead of only winning races.

ADVICE

Raise Your Savings Incrementally

Increase retirement savings gradually by adding 1% each year or by saving part/all of pay raises.
Jay Zigmont recommends automating increases so you barely feel the change but grow your savings.

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Building better financial habits is less about willpower and more about understanding how your brain works. In this episode, Dr. Jay Zigmont, CFP®, and Fiona Waller, MSW, LCSW, CFP® dive into the behavioral side of personal finance, exploring why all-or-nothing thinking keeps you stuck, how to make progress visible, and what the science of habit formation teaches us about lasting change.

Drawing from Dr. Jay's background in adult learning and Fiona's training as a therapist, this conversation goes beyond spreadsheets and investment strategies to tackle the messy, gray area of human behavior. If you've ever wondered why you keep repeating financial patterns you inherited or why your budget never seems to stick, this episode offers practical tools to help you build habits that actually support the intentional Childfree life you're designing.

Key Takeaways:

All-or-nothing thinking sabotages progress: The mindset of "be the best or don't do it at all" keeps you stuck at extremes and prevents you from making meaningful progress in the messy middle ground where real change happens.
Financial success is 80% behavioral: The hard work of personal finance isn't in the spreadsheets or investment calculations. It's in understanding your behaviors, mental models, and the voices in your head that drive your financial decisions.
Starting small creates sustainable change: Rather than attempting major overhauls that lead to failure, focus on getting 1% better each day or making one small improvement at a time to build momentum without burnout.
Naming your internal voice creates distance: Identifying whose voice is in your head and why it's there allows you to acknowledge its role in getting you this far, then consciously choose to take it from here on your own terms.

Episode Hosts:

Dr. Jay Zigmont, CFP® - Founder & CEO of Childfree Wealth®, Childfree Trust®, & Childfree Insights. Author of "The Childfree Guide to Life and Money." Dr. Jay's background in adult learning brings a unique behavioral focus to financial planning.

Fiona Waller, MSW, LCSW, CFP® - Childfree Wealth Specialist® at Childfree Wealth®. Fiona brings a unique perspective as a former therapist, focusing on the intersection of mental health and money using a trauma-informed background to help clients align their financial and life plans with their values.