The Rachel Cruze Show - 3 Times This Underrated Savings Hack Changed My Life

Starting point is 00:00:05 Okay, there are tons of practical ways to save money. I can give you a list of like 15 things to do. But honestly, what I have found is changing my mindset is probably the most effective way when it comes to building wealth. So I'm going to be sharing the savings hack that nobody really talks about and the three times it actually saved me from wasting money. Now, before we get started, make sure to like, subscribe, and share this video with a friend. Okay, so let's have a little fun and make this a little game. And I'll share the three times that I use this hack with my own budget. and by the end, see if you can guess what the hack is.

Starting point is 00:00:37 And if you know, drop a comment down below for your guests. All right. So Winston, I went to New York. This was a few months ago. And I had been saving because I wanted this one specific purse. And I was like, it would be so fun to buy it in New York. So I'd been saving over a couple of months. I had it in the every dollar budget.

Starting point is 00:00:55 So when we got to the store in New York, I went to buy it. And it was a nice purse, right? It wasn't like my target purses that I have. It was a nicer purse. But I got there and I was like, okay, and I was looking at it, but it was not, they didn't have exactly what I wanted. And so I had the money and there were like one or two other purses that I was like, I could probably buy it. And then I kind of felt bad because the sales lady helping was like so nice and kind. It was like getting all this stuff out for me.

Starting point is 00:01:19 And I was like, oh my gosh, she's doing so much work. I like kind of feel bad that I like, I'm going to just walk away, but I really don't really want any of these. And it was just like this whole thing. And I finally just like looked at Winston. I was like, I don't think I want a purse. And he was like, okay, that's fine, because it just was not what I wanted. And so we left. And I still had the money.

Starting point is 00:01:38 And I was like, you know what, if another purse comes up someday than I want, I'll get it. But it's just not what I wanted after saving for a few months. So that was one thing. Another time that I used this idea about saving is for a pool. So once and I built a house back in 2019 and we didn't have it in our budget to build a pool at the same time. So we're like, you know what? We'll make this like a five to six year goal that we're going to be. going to save up and we're going to do it really well. We're going to like build a beautiful

Starting point is 00:02:06 pool that we want. And instead of shortcutting it and doing it faster, like let's just take the time to save and get what we want. And so fast forward to now 2025. And it happens. Like it took about six months to like do the whole project. But yeah, thinking back in like 2019 when we started this process, it felt so good that at the time it was like, okay, time to pull the plug. We're going to do this or no, I guess time to plug in, not pull the plug. Time to start the project. It, like, gave us such confidence, and it was a very smooth, very smooth process. We love it, love it, love it. Before I share the third time that this underrated hack saved me money, I do want to talk about one of our incredible sponsors, Christian Health Care Ministries. So health

Starting point is 00:02:48 insurance costs are only moving one way, and that isn't down. The wait times are longer, and it's harder than ever to get anything approved. So if you feel like the system is working against you, try Christian health care ministries. It's a biblically based alternative to health insurance. CHM is a health cost-sharing ministry that's helped hundreds of thousands of families like yours take care of health care costs, stay true to their values, and avoid getting tied down by miles of red tape. Y'all, there is a better way in Christian health care ministries starts as low as $98 a month. So to find out more, go to ch ministries.org slash budget. at CH ministries.org slash budget.

Starting point is 00:03:31 All right. So the third time this savings hack really saved me. We knew that we were going to have to get a different car once our third baby came. And this was about five years ago. And I was like, okay, we have three car seats. Like, I'm going to need a bigger car. And so we were looking and saving. We had money saved knowing we're going to have to replace my current car.

Starting point is 00:03:49 And when it got down to it, it was like, okay, we had money to do, you know, a nice SUV. like we did look at those and it was like okay we could and then i was like man i would hate to spend all of this money on something that my kids who god love them sweetest little things ever but they're disgusting like they or there's crumbs everywhere all the time juice boxes spill they got yogurt that's been dried out i mean like it's just like who knows what is back there and i'm not one of these moms it's like no snacks in the car like that's not real like like you'll you don't live in reality if that's you like it's gonna happen so just prepare for it if you haven't already

Starting point is 00:04:26 But, like, I remember thinking, like, if we spend all this money on this nice SUV, this whole time, I'm going to be like, oh, my God, no food. Don't do that. Oh, oh, oh, oh, oh, oh, don't slam your door. Like, oh, my God. I'm going to be so paranoid because cars are expensive. And so then we were like, okay, what if we went to a cheaper version? And I thought, you know, I've never said this before in my life at that point, but I said it. I was like, let's go try a minivan.

Starting point is 00:04:49 And, number one, it was a third at the price of some of these other SUVs we were looking at. I was insane. And it was amazing. Like I sat in there. and I was like, it's like a mom set in here and just said, what do I need about life? What do I need to solve life's problems? And she built the minivan. And I was like, okay.

Starting point is 00:05:04 So we had money to do something like maybe a little bit bigger and better, but I genuinely, it was exactly what I wanted. It's what I wanted. It gave me peace of mind. And so we bought the minivan. And I felt so good about it. So there was a mindset that I had with all three of these expenses, some more expensive than others, I guess in this case.

Starting point is 00:05:23 But what it was was patience. and when I had patience to save up and pay for something over the long term, there was not this urgency in the moment of purchase to think like, oh, this is what we have to do. Oh, gosh, oh gosh, gosh. You make bad decisions when you have limited options. And when you are urgent on something, I mean, it's like in our psyche, you limit other options and you just go to the obvious choice.

Starting point is 00:05:46 And so I think if we were looking for a car and we didn't have the patience and save up, I probably may have gotten the nicer SUV. But since I had the actual cash right there and then I really thought, through what our life would be like with these kids in this car. It was like, okay, maybe I don't really want that I says you'd be. Like, maybe I want something different. Or the person in New York, like, I actually had the money. So it was like, do I really want this? Or do I not? And so when you have patience and you save up and pay for things and cash is on your side, suddenly the urgency goes down and you have the ability to make possibly other decisions that you would have made differently

Starting point is 00:06:16 if you were not only using debt, but you were in an urgent situation. So when it comes to big purchases you guys, slow down, save up, have the patience to get what you want because you're going to have so much more peace at the end of that decision. And if it's over the long term, like the pool, like it was like a five to six year deal for us. And that pool changed like it did from what we would have built before that. So even knowing that, like give yourself the time and patience. And again, so much more peace in the process. So my number one tip, you guys, if you want to do this and you want this long term patience to save up for, for big purchases, have sinking funds in your budget.

Starting point is 00:06:54 This is what we do. We put a line item in our budget and you label it pool. I label it purse. Like whatever the thing is you're saying for, and put a little bit of money away to do this. You could do this for Christmas. You could do this for vacations. Like whatever you are doing long term,

Starting point is 00:07:07 put it in the budget every single month and save up a little at a time. Yes, it's going to take more patience. It may not be as fun in the moments. They're like pulling the trigger and doing it, but I'm telling you you will have more peace. So today we were kind of talking about mind-es. set, but if you're looking for practical money tips, learn how to save $4,000 fast by clicking here for the next episode or if you're listening on podcast, click the link below.

Starting point is 00:07:31 All right, you guys, remember to take control of your money and create a life you love.

The Rachel Cruze Show - 3 Times This Underrated Savings Hack Changed My Life

There aren't comments yet for this episode. Click on any sentence in the transcript to leave a comment.