The 2025 Financial Literacy and Preparedness Survey, which The Harris Poll conducted for the National Foundation for Credit Counseling, found that 53% of people felt like they were encountering financial setbacks regardless of what they did.

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According to money expert Ramit Sethi, feeling trapped in a financial situation isn’t uncommon, but you can start getting yourself out once you realize where you are and know where to put your focus.

In a YouTube video, Sethi detailed these seven levels of wealth and provided clear steps on how to make it to the next level. Consider your finances to see where you fall.

You’re in this lowest stage if you struggle to pay everyday bills, feel terrified about handling unexpected expenses and don’t know much about your money. You’re also lacking stability and peace.

Sethi recommended starting with a close look at your finances, including calculating your gross income and identifying all debts and expenses. You’ll also want to determine your housing expenses and figure out your monthly savings and investing contributions, which Sethi encouraged making even if you can only dedicate a small amount.

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Next, you should reconsider and get rid of any money beliefs that could be keeping you stuck in survival mode. After that, work on making more money to get more margin.

When you reach this level, you’re probably still in a bit of a financial pinch and unsure about financial planning, but you’re not struggling to survive or running out of cash for bills. Sethi also mentioned that still having debt and facing difficulties saving regularly are possibilities.

His advice for this stage included having a “conscious spending plan” and automating your savings and monthly payments, which he said was essential for leaving this stage. He also suggested stashing away 5% of your after-tax income into investment and savings accounts, which is a small amount that can eventually add up to a large amount of wealth.

Next, focus on working out better rates on any high-interest debt. That saved interest can go toward investments and savings. Finally, Sethi said you need to know your main “money dial,” which he described as the main thing you’d like to spend money on without guilt.

Security means you have some peace and confidence about your financial future. Some signs include awareness of your spending and income, no or manageable debt, regular investment contributions and an emergency fund.