It's no secret that most of us struggle to get into the healthy habits of practicing sound personal finance. A recent OnePoll survey of 2,000 Americans brought this to light: four in ten Americans admitted to putting off dealing with their finances. This tendency to delay would be less alarming if it weren't coupled with a lack of financial knowledge. Only two in five people responding to the survey consider themselves more financially literate than others. At the same time, as many as 35% do not even know what "interest" means in the financial sphere.

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As I went through the list of these statistics, how could I not feel a little worried about what our collective financial future held? A survey commissioned by Beyond Finance for Financial Practice Week shows that 43% of respondents have no idea what a 401(k) is, a cornerstone of retirement planning for most Americans. Not understanding this is quite daunting, particularly against the backdrop of retirement in the future being such a hot topic of conversation across the country. A study by the National Council on Aging shows that the vast majority, 80% of households with older adults face financial strain or are at risk for economic insecurity.

One of the most striking aspects of the survey was the reasons people gave for putting off financial planning. In the lead at 25% was stress. Some others believe that their financial situation is bad enough not to worsen, while others simply forget to deal with their finances. Of note, this shows that Gen Z are the biggest procrastinators, and the baby boomers are the most minor proportion of those prone to putting off dealing with financial troubles.

According to Dr. Erika Rasure, Chief Financial Wellness Advisor of Beyond Finance, one common bad habit is avoiding finances, one either overlooks their financial situation or becomes overwhelmed by them. She suggests a balance: healthy money habits to teach and pay heed to one's Novare Finances, making small changes easily handled. The survey also underlines Americans' ignorance of the basics of personal finance and their interest in making healthier money choices.

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On average, the typical American logs into a banking app twice a day, while more than a quarter log in less than once a day. Opening a banking app poses some nervousness for half of respondents, especially Gen Z, 65% vs. baby boomers, who are the most calm. Another critical area where many of us fall short is budgeting. The drumbeat from economists and personal finance experts seems to be ignored largely. Eight in ten respondents are living to some degree within a monthly budget, with millennials and baby boomers showing the most commitment at 81%. Overall, budget adherence is less than ideal; however, respondents followed their plans only 66 percent of the time on average. In keeping with a trend within the data, baby boomers were most accountable at 76 percent, whereas Generation Z strayed from budgets the most at just 58 percent.

Many people try to cut back by purchasing just items on sale, using coupons, and shopping at discount stores. Others have cut back on social activities and seldom allow small indulgences, such as coffee from a coffee shop. Also, others stopped taking vacations to save money; one-third of those surveyed said they never took a vacation because they could not afford to do so.

Finances also play a significant role in relationships. Nearly four in ten report that unhealthy spending habits negatively affect their relationships. Majorities also say that learning about personal finance as a couple could help them improve their money habits together.

Education, says Dr. Rasure, is the natural step toward better financial prospects. It is how much we know concerning money and our finances that sets us up for making good decisions in planning to execute goals. The Financial Practice Week gives people the motivation to regularly learn to develop those money habits they have been putting off so that they can work toward a more stable and optimistic future.

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