The Adversity Advantage with Doug Bopst

Rachel Cruze - How to Better Your Financial Situation Right Now

Nov 12, 2020

29:29

Let’s face it, today there are many people struggling with their finances.

People have lost their jobs, some have been furloughed, some have had their income drop and this pandemic has impacted so many in such a way that has left them feeling fearful, uncertain, anxious and stressed on what’s to come.

So today, I wanted to bring on the show an expert that will help you better your financial situation right now.

My guest today is Rachel Cruze — an American author who specializes on the subject of personal finance. Her book Smart Money Smart Kids, co-authored with her father, Dave Ramsey, reached number one on The New York Times Best Seller list in 2014. She’s also the host of the Rachel Cruze show.

We are going to talk about budgeting, family and of course finances. And with the difficult situation happening around us, Rachel will share some of her tips and strategies on how people can effectively manage their money and be financially secure until they live a life that is debt-free!

So if you are one of the many who got affected financially during these difficult times, and you are having a hard time with planning and handling the budget for yourself and your family, this is the perfect episode for you!

What's it like growing up with Dave Ramsey as a Dad?

Rachel’s Mom and Dad, obviously, were really intentional with teaching them how money works, but it was not something that they obsessed over.

They were never given an allowance. They were always on commission. “You work, you get paid. You don't work, you don't get paid.”

What can Rachel say about people falling into this comparison trap with impulsive spending, and how to prevent it?

Social media has become so normalized, like it's a part of our everyday life.

People are on it constantly and the hard thing is mostly what people see are the best parts of everyone's life -- great vacations, great meals that are being cooked. And that's how we've been for almost a decade of seeing these things over and over. And assuming that's how life should be.

And if people are not meeting that, then the avenue of debt is right there for us to walk right down and get it because we think it's normal.

We have to shake out what is normal, because what's normal is “broke”, we're finding that 78% of Americans are living paycheck to paycheck.

The Four Walls

Rachel points out that during these tough times, it's most important to take care of the four walls that surround you which includes:

Food
Shelter
Utilities
Transportation

Tune in to this episode and digest what Rachel said about these 4 walls. You will surely gain something that is really helpful and might change your perspective when it comes to handling money!

Rachel will also talk about how she manages to protect her energy and make sure that she’s taking care of herself to be a beacon of light to everybody.

And just like everyone else, Rachel also faced some adversity in her life! You better listen to this as she tells her story and what she learned from it.

Words of wisdom from Rachel:

“Money is just a tool to create a life that we love. But it is not life. We're not working just to make money.”

“Control what you can control and don't make decisions based out of fear.”

Connect with Rachel:

Website: https://www.rachelcruze.com/

Facebook: https://www.facebook.com/rachelramseycruze

Instagram: https://www.instagram.com/rachelcruze

Twitter: https://twitter.com/rachelcruze

YouTube: https://www.youtube.com/user/rachelcruze

Connect with Doug

Website: www.dougbopst.com/

Instagram: @dougbopst