Derek Hagen, CFA, CFP®, FBS®, CFT™
“Knowing thousands of recipes doesn’t feed you, unless you start cooking.” -Leo Babauta
Have you ever known exactly what you needed to do but struggled to actually do it? In my 20s, I knew I needed to save money. I gave speeches in college classes about the importance of saving and knew all the strategies, like paying myself first and spending what was left over. Yet, I couldn’t get myself to take action.
This wasn’t an information problem—it was a behavior problem. I knew what to do intellectually, but I didn’t know it experientially. The knowledge alone wasn’t enough to create change. I had to start doing.
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The Role of Knowing
Having intellectual knowledge is essential for change. You need to understand the steps, strategies, and benefits. But knowledge is only one piece of the puzzle. True change requires combining what you know with what you do.
Most of us don’t have an information problem. People who need to exercise more already know they should exercise. People who need to quit smoking or save money know why it’s important. The issue is not a lack of knowledge—it’s the gap between knowing and doing.
Sometimes, there are external barriers preventing action. Other times, the obstacle is internal:
- Hiding Behind Knowledge: Consuming endless information as a way to avoid taking action.
- Ambivalence: Wanting change but also wanting to stay the same.
- Fear of Failure: Worrying about trying and not succeeding.
Some people fall into the trap of perpetual learning. They believe that knowing more will eventually lead to action. But learning without doing is like hiding behind a wall of knowledge—it feels productive but keeps you from making real progress.
The Role of Doing
None of this is to say you should leap into action without preparation. Doing something without a foundation of knowledge is like spinning your wheels. There’s a balance between acting too soon and never acting at all.
The sweet spot is finding the overlap between knowing and doing—learning enough to start and then gaining experiential knowledge by taking action. Progress often comes from doing something “good enough,” rather than waiting to do it perfectly.
There’s a difference between knowing something intellectually and knowing it experientially. If there’s a change you’ve been thinking about making, ask yourself:
- What’s the first small step I can take?
- How can I turn my knowledge into action today?
Combining knowing with doing bridges the gap between intention and results. The recipes in your mind won’t feed you, but starting to cook will. Take that first step—because knowing is worthless without doing.
Want to Learn More?
Money Quotient trains financial professionals in the True Wealth process and helps them implement the concepts into their practices. The first step is to learn about the Fundamentals of True Wealth Planning.
This post originally appeared on Meaningful Money.