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Happy Financial Planning Month! What better way to start your financial planning season off than with our FinCon 2018, where money and media meet, interview with Rachel Cruze on her own personal finance philosophies? After all, Rachel is an accomplished published author — her most recent book is Love Your Life Not Theirs: 7 Money Habits For Living The Life You Want, a speaker, business owner, and the daughter of the personal finance God Father, Dave Ramsey. She’s a self-proclaimed “spender” who teaches us that a budget doesn’t limit your freedom, it GIVEs you freedom. Rachel also believes giving is one of the most important things you can do in life. In this episode, you’ll learn money saving tips, how to be strategic when paying off debt and how to get on the same page with your spouse when it comes to winning with money.

Show Highlights:

  • The budget is king; it will give you the framework to operate your life.
  • You have to define the things that are valuable to you that you can put in your budget. Therefore, what makes up a “budget” is going to be different for everybody.
  • If you’re in the process of paying off debt your budget is going to reflect that and all resources should be going towards becoming debt free. If you’re debt free, look at things you’re passionate about, save up for electronics, vacations, clothes, restaurants, etc.
  • For couples coming from completely different financial backgrounds, it’s important to sit down and listen to each other’s financial backgrounds. It might be uncomfortable at first, but in order to win with money, you have to be on the same page as a couple.
  • Giving is a principle that everyone needs to incorporate into their life. When you live your life with an open hand you’re operating on the spectrum of selflessness instead of selfishness. The universe gives you back the energy that you put out.
  • List out your debts from smallest to largest regardless of interest rate. Pay off your smallest debt first. Once the smallest debt is paid off, take the money you were using for that payment and begin adding it to the next smallest debt. Keep repeating until you’re debt free.
  • Stop the comparison game. You have to live your life based on your current financial situation. Envy and jealousy may cause you to spend money on things you can’t afford just because you were trying to fit in. Most things you see on social media aren’t real.

The Takeaway: Take control of your money and create a life you love!

Rachel Cruze on Social Media:

Additional Resources:

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