The Rachel Cruze Show - What Your 7 Money Tendencies Say About You

Episode Date: March 3, 2025

📈 Are you on track with the Baby Steps? Get a free personalized plan. Some of us are natural savers and some of us (🙋‍♀️) are natural spenders. In this episode, find out what your money tendencies are, plus how to be the best version of your type. Next Steps: 🎥 Watch my video Money Habits You Need to Change Right Now (with Dave Ramsey 📗 Read my book Know Yourself, Know Your Money. 💵 Start your free budget today. Download the EveryDollar app! Connect With Our Sponsors: 🏥 Learn more about Christian Healthcare Ministries. 🔒 Get 20% off when you join DeleteMe. Explore More From Ramsey Network: 🍸 Smart Money Happy Hour 🎙️ The Ramsey Show   💸 The Ramsey Show Highlights 🧠 The Dr. John Delony Show 💰 George Kamel 🪑 Front Row Seat with Ken Coleman  📈 The EntreLeadership Podcast   Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Did you know that there are seven money tendencies that everyone has? Well, I wrote a book a few years ago called Know Yourself, Know Your Money, and that is where I covered seven money tendencies that I constantly saw people have. And again, these tendencies are actively affecting your ability to build wealth, whether you realize it or not. And today, I want to share those with you so that you can kind of quiz yourself and figure out, like, okay, where am I on this spectrum of like, is this, is this like good? Is this bad? But listen, we all have room for. for improvement, but also we are naturally who we are, and we're going to celebrate that. But before we get started, be sure to subscribe to this channel and share this episode with a friend.

All right, to clarify, the point of this is to be intentional, not judgmental. So there are some money tendencies that people have, and they feel like, oh my gosh, is this like a bad tendency to have or an okay tendency? And I don't think there's a right or wrong to this. I think the extremes on either end can be unhealthy. So we're going to talk about, hey, there are strengths, there are weaknesses, and all around we can all grow when it comes to our outlook on money. But yet we don't change who we are.

So we're going to talk all through it. And then I'm going to challenge each type as we go and comment below as we go because I want to know which ones you relate to. All right, the first money tendency, it's a easy one. Spender versus saver. So I just kind of need your reaction. Where are you on the spectrum, right? You have savers over here, spenders over here.

Where are you? I am naturally a spender. like me, a good challenge for us, is to prioritize savings. Now, we can start small with this, but if you are a natural spender, saving is going to be more difficult. So, again, putting something consistent in your life and in the rhythm of your budget to be saving is really important. Now, savers, you don't get a pass. Some people just like celebrate savers. Like, you're just the good money one, not necessarily, because for some savers, again, they hold their money so tightly because all they want to do is save.

So my challenge to you is create a budget and put a line item in there that just brings you some joy where you are going to have to force yourself to spend money on just things that you want, right? And it may not be a high dollar amount in your budget for it, but practicing enjoying your money because you don't want to just spend all your money. You also don't want to save all your money. You want a balance of both. So you want to enjoy it.

So you savers out there, spend a little. The second money tendency is a nerd or a free spirit. So if you've followed Ramsey any amount of time, this is kind of the words we've coined for people, especially when it comes to the budget. So when you are a nerd, if you're on that side of the playing field, it's like, yeah, you just love budgets, you love numbers, you love Excel, you love being in control of your money. Free spirits, a little bit more like, hey, everything's going to be fine.

Don't worry about it. Don't freak out and stress yourself out. We will figure it out. No big deal. I lean more on the free spirit side. it comes to money. But if you are a nerd, this is your challenge. I want you to practice flexibility, because if you live and die by the rules, you're going to wear yourself out and the people around you. So just listen, processes are great. We want to be wise, but sometimes it's okay to have some

life happen. Now, free spirits, I'm going to say for you, we've got to kind of rein ourselves in at times, and I want you to set an intentional goal or a habit. The thing is, if you don't do this, if you don't actually force yourself in a rhythm of managing your money, doing a budget, telling it where to go, you're going to look up when it's time for retirement and be like, oh my gosh, we have just been unprepared my whole life because I've just kind of just been going with the flow. So your challenge is to get a process in place. All right, money tendency See, number three is, are you an experience person or a things person? So let me explain. When you spend money, would you rather spend money on experiences? So a great dinner out with friends, going to a concert,

going on a great trip, or do you like things? Like you want to buy something, have your money, be used for something that you can use in your life to better your life. So those are the two buckets. I lean more towards experiences for sure. Now, if you lean towards things, that's not a bad thing, my husband would sudden, he's like this. He's like, I would rather say it for a nice pair of boots that I can wear over and over and over again. Or I want to say if he did, like, bought a cold plunge this year. And he's like, I just want to like have a nice cold plunge because I'm going to use it. Right. So like he likes things that are utility that he can use. And again, not a bad thing. It's just where you lean and knowing your tendency. So this challenge is actually a joint challenge. And that is to simply

communicate with the people around you. So if you are married, the challenge is, hey, ask your spouse. And you may already know, but be like, okay, where do you naturally tend to bend when it comes to spending your money? Now, if you know my love for Amazon, then you could probably guess which category I fall under for the next money tendency. But before I share more, I do want to tell you about one of our sponsors, delete me. You know, we spend so much of our lives online. We're on social media, but we're also shopping and banking, and everything we do is on the internet these days. So our names, addresses, work history, phone numbers, email addresses, and more are out there for bad guys to exploit.

And we need to protect ourselves. That is why I love and use Delete Me. Delete Me finds and removes your information from hundreds of data broker websites that buy, sell, and trade your personal data. So take control of your online privacy today and find peace of mind with Delete Me. Individual Delete Me plans start as low as $9 a month.

So sign up today at join deleteme.com slash Rachel for 20% off or click the link in the description. All right, money tendency number four is, are you a quality person or a quantity person? Quality, obviously, it's like, I need two nice pairs of shoes. It's great. Quantity is like, oh, they can be cheap, don't need to be nice, and I want six pairs, and I'll get new ones next year. Where do you kind of lean?

I am quantity. I like having options. I don't need, like, super nice stuff. I'm like, just give me options. Options are fun for me. I enjoy it more. again, my husband is a quality person for sure. So it's good to know kind of where you lean because it's going to really inform how you spend your money. So if you are a quality person, here's your

challenge. Ask yourself if it's really necessary for you to spend more on a special version of like that thing. Because sometimes you can get a lower quality thing at a lower price and it's fine. But sometimes when you're like, when you're like obsessed with quality and you're like, You know, it has to be like this real leather. Like, you get really specific, really specific. Sometimes it doesn't need to be the case. So maybe kind of, like, find some things in your life, but like you don't maybe need the quality,

and it's okay to go a little cheaper. You'll save some money that way. Now, if you are a quantity person, here's your challenge. I'm saying this to me, is to try the minimalist exercise or even just do, like, a closet clean out or the consumption challenge. Like, get rid of your crap, okay? because I know you quantity people out there because it's me. It's me. You just have so much crap.

And then you look up and it's been three years. You're like, I haven't worn those earrings in two years. Why are they still here? Like, get rid of your stuff. Because I do believe when you are organized and you have less things, there is more of this, like, this piece of mind. There really is. And so while it's not always bad, make sure you are cleaning out your stuff if that's how you're choosing to live. And again, I'm saying this to me too. So that's our challenge. Get rid of some stuff. All right, money tendency number five is are you a safe? person or a status person. So what I mean by this is the motivation of why you want to do well with your money. Why is that? And for some people, it's safety. It's like, I just want to be taken care of knowing that I have enough money and it's fine. And then status, people, which is not a bad thing, status, I feel like can sound bad. But it's more like, oh yeah, I want to win with money because I want

to do things. Like, I want to like, yeah, I want to get a fun car and I want to go on a great trip. Like, I'm doing this so that I can live out a fun life. So knowing where you're you are again is your motivation on why you want to handle money well and win with money long term. So if you are a safety person, here's my challenge to you, is to make sure that your value of safety doesn't cause you to live in fear because some people feel like, oh my gosh, I'm going to lose everything or you kind of can end up being in this horder mentality of like, I just need more savings and more savings and more safety and more safety. And there's a point of wisdom in that, right? We talk about the emergency fund. Like, I'm all for that. But there is a point in life

that more money doesn't always bring more security. And so digging into that part of your life and your story, I think is really important. If you're a status person, this is me, check your gut and make sure that you're not just splurging on status symbols to make yourself feel good and your reputation and your self-worth might be in the wrong place. And if we think, if I just had the nicer car, if I went on the better vacation, somehow like I'm going to find more joy in life, it's not true. That's not going to happen. So while you can enjoy those things and it's fun, and again, enjoy it. but your identity and who you are cannot be wrapped up in those things, and we can lean that way very easily. So make sure to check yourself on that one. Money tendency number six is the abundance

person or the scarcity person. So we always hear about an abundance mentality or scarcity mentality. So abundance mentality, it's like, oh, yeah, there's more of everything. There's more money to get, more options out there. We're going to be fine. Just more decisions. We'll make different ones. Like, it's great. Lots of things out there. It'll be fine. The scarcity person is like, nope, something bad's going to happen. We don't need to make too many. rush decisions. We're going to play it real safe because we don't want anything to happen. And so they're less averse to like, you know, risking anything. So if you are an abundance person, here is your challenge. I want you to channel that positivity about life into your financial

goals because I want you to, again, take this idea of like, oh yeah, everything's going to be fine. And it is, but you want to make sure that your decision-making process throughout that is wise and that you're going in the right direction. That's really important. And if you're a scarcity person, just remember, like, God's in control. It's okay. Okay. And I think sometimes abundance and progress really does require faith in God to bring your work to fruition. So like, there is this idea that I can control everything. And if I just like make the right decision, everything, I mean it's going to be okay. And there's a little bit in times of life that like we can do what we can. We can be wise. But also like, we can't control everything. So there's a level of trust in God in that

that I think is really important. All right, the last money tendency. Number seven is, are you a spontaneous giver or a planned giver? Spontaneous giver? It's like, oh, yeah, you see something or someone or an organization. You're like, here's my 401K. Like, take all my money. It's just like, I'm going to just give you what I have in the moment,

and you just feel like, yep, I'm led that way. Versus a planned person plans out the giving. They research the organization. They make sure everything's legitimate. They don't go off of emotion. They go off of a plan. and they're very wise in particular with their giving. So if you are a spontaneous giver, then your challenge is that money isn't the only way to be

generous. And sometimes it's wise to cover your own basis first so that you can give your time and energy over because sometimes spontaneous givers, like they just give when they're not really thinking always about the needs of their own household first. Now, a planned person, if you're a planned giver, my challenge to you is put some cash aside in your budget for unexpected generosity because things will come up and plan for that, but have the freedom to have some spontaneous giving in your life because I think that is a really good thing. So no matter what your natural tendencies are, my number one tip that I want you to take away from this is that neither is right or wrong. You are who you are, but we can all grow. And I think the key to

these spectrums is like kind of finding that middle ground, which is really important because we need both of these, right? Both sides of the coin are important. But, but we can, but be self-aware of know how you're wired and then be self-aware of how that's affecting others. And if you want to grab a copy of my book, Know Yourself, Know Your Money, we talk a lot more about this in the book. I will leave a link down below. And for more natural tendencies that might need tweaking, make sure to check out my episode with Dave Ramsey on Money Habits.

You need to change right now. So click here or if you're listening on podcasts, I will leave a link below. All right, you guys, remember to take control of your money and create a life you love.