7 Money Habits for Living the Life You Want Rachel Cruze

I love when a woman discusses finances. After reading Suze Orman Money and Women, I was look out for another voice in the finance world and I found Rachel Cruze, daughter of Dave Ramsey. So it is natural to expect that she is going to advise on finances and I really liked some of her tips and suggestions given by her in the book.

Lessons Learnt from the Book:

John Maxwell quote. He says, “A budget is simply telling your money where to go instead of wondering where it went.”

  • Instead of looking at a budget as confining, look at it as permission to spend.
  • One should simply write a plan and then worked the plan by implementing the details. This kind of planning works with running marathons, and it also works with managing your money.
  • Thomas Jefferson said, “Never spend your money before you have it.” That simply means, live on what you make. A budget isn’t going to bring you new money; it will just help you manage the money you have.
  • I love about healthy dating relationships is that so much gets revealed when the couple starts talking about important things like faith, family, and money.
  • How you use your money always reveals your priorities. That’s because money is never just about money. Money reveals what you truly value in life. Your money not only represents your value system, but it also reveals your goals, fears, and dreams. Being on the same page and unified together in all areas of life is essential—and that absolutely includes your checking account. What’s Yours and What’s Mine The popular “that’s yours and this is mine” mind-set is destructive in relationships.
  • P. T. Barnum once said, “You will find there is more satisfaction in rational saving than in irrational spending.”
  • Having the discipline to say no to yourself, even when you have the cash in your pocket, is one of the hardest things about handling money.
  • You see, choosing something good over something bad is easy; anybody can do that. The hard part is when you have to choose between a good thing (great pots and pans) and a better thing (putting that money toward something else). That’s when you have to keep your guard up and push through to the wisest decision.
  • Food, shelter, utilities, clothes, and transportation are needs. (Four Walls)
  • A budget doesn’t tell you what you can’t do; it shows you what you can do. Making a plan for your money only increases your options.
  • Will Rogers once said, “Advertising is the art of convincing people to spend money they don’t have for something they don’t need,” and that couldn’t be more true.
  • There is a difference between wanting your kids to have a better life than you did and trying to live vicariously through them. If you have the budgeted money and you want to take your kids on a great trip or buy them something spectacular, do it. But if you find yourself feeling some internal pressure to buy them things that you always wanted when you were a child, then something is off. You may be buying that item for yourself, not for your child.
  • Doing what’s best for your family in the present is what is going to be best for them in the future.
  • John D. Rockefeller, generally regarded as the wealthiest man in US history, may have said it best: “I never would have been able to tithe the first million dollars I ever made if I had not tithed my first salary, which was $1.50 per week.”
  • What matters is the decision to make giving a key habit in your life. When you do that, you’ll unlock the power to totally change your relationship with money. You’ll be set up to win and give like you never thought possible, and, I promise, it’ll be an amazing journey.

In general, the book is an easy read. I loved how Rachel cited her own struggle and dilemma to explain some of the concepts in the book. If I would remember one thing from the book that I will always keep in my mind it will be : Do not compare yourself with others in terms of finances or otherwise. In other words “Comparison is the thief of Joy”