Episode description
Forming a healthy relationship to our finances is all about taking small steps towards our ultimate financial goals. No matter your income, I believe you have the capability to find financial freedom. If you are looking for a little financial peace today, then you are going to love my conversation with Rachel Cruz! Rachel has a down-to-earth, practical perspective on finances that comes from an early exposure to money management skills. That’s right, Rachel’s dad is the one and only Dave Ramsey, who revolutionized the world of personal finance for so many of us!
Growing up with Dave Ramsey, you might think that Rachel spent her days filling in spreadsheets and planning mutual funds, but she assures me that isn’t the case. Instead, Rachel grew up with a healthy relationship with her finances and a desire to share that knowledge with others. Rachel has a natural love of public speaking, and even when she was still a child herself, she was sharing what she knew with those around her. Today, Rachel has published not one, but two bestselling finance books. She is teaching women all across the world how to be wise with their money and live financially free. It’s not just about getting out of debt, though that is important! Rachel focuses on easy steps that you can take to make wise decisions with your funds.
Today, Rachel is going to give us an overview of her Love Your Life, Not Theirs: 7 Money Habits to Change Your Life. When you develop these habits, you will create for you and your family a sense of financial freedom like never before. These tools really work!
Show Highlights:
- Rachel shares how she got started in the “family business” of personal finance.
- How to package the message of financial responsibility for a younger audience.
- Money was often talked about as a family in the Ramsey household.
- The tools that you can use to have practical conversations with your kids.
- Rachel talks about the inspiration behind her book.
- How to manage your social media emotional drain.
- Rachel shares her perspective on buying cars and paying off debt.
- Make a plan for your money! Give every dollar a job.
- How to make an emergency fund.
- Tackle your financial plan with your spouse and get vulnerable.
- Get the order of operations as far as your savings go.
- Using cash is instant accountability.
- Sleep on it! Think before you spend.
Resources:
Love Your Life, Not Theirs by Rachel Cruze
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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.