The Rachel Cruze Show - 5 Money Lies That Will Never Build You Wealth

Starting point is 00:00:05 When it comes to money, mindset is everything. And I hear from people all the time who are believing toxic lies about money, and it's really holding back their progress. So today we're going to talk about five lies about money that gets you nowhere in terms of building wealth. So make sure to like, subscribe, and share this episode with a friend. All right, lie number one, if I work hard enough, I can have it all. And here's the truth.

Starting point is 00:00:27 This is not a scarcity mindset, but there's also a reality of the world that we live in. And some people think, if I just work hard and make a lot of money, then everything's going to be fine, but as Dave Ramsey, I'll quote my dad here, that you can't out-earn your stupidity. So if you're not being wise with what you have now, this notion, if I just work harder, maybe make more money, it's all going to be better. And it's not. Those things are just going to be magnified. And there's a little bit of a notion, too, that if I work hard and make a lot of money, like, everything's going to be fine. And that's not true either, right? Like, life happens. And so I do think discipline who you are, your character showing up. I think working hard is very

Starting point is 00:01:04 important and grinding it out sometimes in certain seasons like yes yes and amen but also remembering this notion if you are not good with what you have now working hard and maybe making more money isn't going to fix your life it's just not all right next step number two is this lie once i can afford fill in the blank i'll be happy you're you're a smart person i know you watching this like you are smart yes and i'm going to say i'm going to call myself smart and we know in our head, that's not true. Like this notion, I think we all intelligently can grasp on an intellectual level. Sure, stuff doesn't make us happy. We all know it. But yet somewhere deep in our psyche, we still believe this lie. This lie of, oh, if I could just like sell the minivan and get a cool

Starting point is 00:01:48 mom SUV, I'm going to be happier. What? Who said that? I don't know. You know, this notion of, like, if I just can have that next thing, somehow I'm going to be satisfied in one way or the other. And can I just tell you whether you're chasing a salary, a job, maybe even a season of life, wait to the next thing. You're going to be a rat in the wheel for the rest of your life. So my encouragement for myself always and hopefully to you is be present, be present in the moment that you are and have that gratitude. Because if you keep looking to the next thing to satisfy you, again, you're going to run and run and your life's going to leave. Like it's going to be over. And that's not a great way to live your life. All right, before we get to the rest of the lies, I do want to tell you about one of our sponsors,

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Starting point is 00:03:17 No level of wealth is going to exclude you from suffering. There is still sickness, loss, conflict, change. Like things happen in life that regardless of how much money you have in the bank, the situation is very real. And I think it is hard. I'll be honest, y'all. Sometimes I can feel this way. Like, you see a celebrity or something and something happens to their house or like, I don't know, like something. And you're like, oh, they'll be fine. They'll be fine. Now, do they have the means to maybe go and like, I don't know,

Starting point is 00:03:42 rebuild? Like, sure, absolutely. But that still doesn't mean like a loss of something is very real to them. So I think, you know, refusing to have empathy for wealthy people just because they're wealthy is not helpful. And I think, you know, realizing that also if you are chasing some level of wealth or net worth because maybe you think, okay, you can almost become immune to the pains of this world. That's not true either. Line number four. If I have X amount of money in the bank, I will be secure. This is a finish line that continues to move.

Starting point is 00:04:12 There was a study done years ago that talked about this where they actually interviewed people that were making $80,000 a year. And they're like, do you feel secure? Do you feel rich? Are you good? I'm like, no. But if I made $200,000, I'd be great. And they went and talked to people and made $200,000.

Starting point is 00:04:27 They're like, no, I'm not rich. I'm not secure. I would feel better, though, if I made under half a million. They go and talk to people that. And it just, you never found someone that was like, yeah, I'm great. I'm great. They're always kind of like chasing that next thing, that next dollar amount. So your security, yes, does money give you a level of security? Yes, I believe it does. Like, I really do think if you don't have debt and you have an emergency fund and your heating and air goes out and you're able to write a check for it, like there's a level of security in that versus having no money in the bank and tons of debt. And this is another bill that piles on that causes stress. 100%. I think there's a point that it can bring you security.

Starting point is 00:05:02 But above a certain point, that's where the lie is really magnified. That your security and your money, it can't be everything, you guys. It just can't because it's not fulfilling. It will never give you that deep security. So remember that. Again, it can to a degree. I really do think so on our basic way we live life. But beyond that, especially when it gets into like a lot of excess, I think it stops at that point. All right, line number five, budgeting restricts my freedom. I believe this for a good amount of time because I always was like, oh my gosh, budgeting is so horrible. Like, no, I don't want to have like boundaries and stuff. I just want to be able to enjoy my life. If I work hard, I want to be able to enjoy it. But I have found after living on a budget for so long that the opposite is true.

Starting point is 00:05:45 It actually does not limit your freedom. A budget doesn't. It actually does give you freedom that you're able to spend and enjoy your money because you have actual control over your income, which is a huge part of winning with money. Now, if you've not checked out every dollar, this is Ramsey's budgeting app and it is new and improved. It actually goes over your entire financial picture. You can see everything around your money, and it is so helpful. So remember, a budget does not limit your freedom. It gives you freedom. Now remember, too, that money is a helpful tool because you're able to do things with it in life, and that's great, but that's what it is. It's a tool. should never become your everything. And it can become pretty problematic if it starts to become

Starting point is 00:06:26 your entire world. So you do want to be careful. So make sure to check out my episode, Unexpected ways money might be ruining your life. You can click right here. Or if you're listening on podcast, you can click the link below. All right, you guys, remember to take control of your money and create a life you love.

The Rachel Cruze Show - 5 Money Lies That Will Never Build You Wealth

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