The Rachel Cruze Show - You’re Defining Success All Wrong (And It’s Costing You)

Starting point is 00:00:05 Don't you just love when you're scrolling social media and it actually educates you? It's an amazing thing. And that happened recently. I was scrolling through and I saw the stats that 70 to 75% of global luxury spending is actually driven by middle and lower income consumers. So if this is true, which is just wild, let's talk about why this is and how we can prevent that in three simple steps. Now, before we jump in, make sure to like, subscribe, and share this episode with a friend. So the idea has actually been a part of what we we do here at Ramsey so often where we talk about, hey, luxury items, the things that you see do not indicate that you actually have wealth. It's kind of like the idea a guy pulls up next

Starting point is 00:00:46 to you at a stoplight in like a really nice car and you're like, oh, wow, he must be doing really well, no, he could just be making the payment and he can't afford the actual car and he has no money in his account versus someone else who's in like a 10-year-old Honda Civic paid off and they've got you know, hundreds of thousand dollars in the bank. But the way our minds work when it comes to our culture is we actually see things like luxury as you are winning. And so one of the taglines actually for the Dave Ramsey show for so many years was this is the place where the paid off home mortgage has been replaced by the BMW as the status symbol of choice, meaning the paid off home mortgage is actually the status symbol that you want, not necessarily

Starting point is 00:01:27 the BMW, but our world is the opposite. People want to look like they're successful. regardless or not whether they're actually doing well financially. So when there are labels out there, you guys, and you see brands and people are kind of flaunting them and all of that, like it says something, right? And so this whole idea of quiet luxury versus like loud spending, if you will, and flaunting has really become a trend. And I kind of actually appreciate it. Because the truth is, there are thousands of reasons why people might have nice things, right? You might see someone and you're like, oh, yeah, you know, maybe. Maybe they saved them and paid for it.

Starting point is 00:02:03 Maybe they used debt to buy it. Maybe it was a gift. Maybe they bought it at a secondhand, you know, consignment online store. Maybe it was a family heirloom. Maybe their spouse makes a lot more money than maybe you realize, right? So, like, the idea is we don't know what is going on out there. But when these labels scream out, like, oh, my gosh, success, success, success, I want us to pump the brakes. And remember, actually, stealth wealth is kind of the way to go.

Starting point is 00:02:31 we're like, okay, I don't need all the labels and the things. And some people actually think designer labels are becoming a little tackier where minimalist styles is actually kind of like this rich aesthetic. So who knows what's going to happen in the future, but I like this style and this trend of like, hey, we don't need all the flashy stuff going under the radar. It's actually a really good thing. So that's why I want us to keep in mind three things next time you're caught maybe in a judgmental spiral about someone's life choices where you see something.

Starting point is 00:03:01 something and you think either, oh my gosh, look how wealthy they are, look how great they are. Like, gosh, they must be so successful because it looks like it because that's not always the case. So number one, remember, you don't know anyone's story but your own. And so it's not our time to sit there and judge people's decisions because the truth is maybe they saved up and paid for those things and that's what they like and that's fine, right? Or maybe they use debt for it and they don't really have the money to pay for these things. But regardless, you want to be secure and your life choices and remember to put the blinders on. Don't worry about everyone else. Focus on you in your life because we don't really know what's going on in people's lives and it's none of our

Starting point is 00:03:40 business either way. So focusing on you, it's the best way to go. Number two, what you have is not who you are. And this is so difficult again because everyone wants to feel successful or look successful, look like they're doing well, all the things. But those outward appearances are not always the case. And what happens is those outward things can start to become who we are and what we believe our value is. So we just went to this nice hotel over a holiday weekend recently. And we were leaving and I swear like 10 people that passed us. I was like, wow, well, well, well, meaning like they look like very put together and designer, everything from shoes to belts to purses. I mean, the whole thing. Everyone, like, I had this moment. I'm like, oh my gosh, everybody like is doing really well.

Starting point is 00:04:28 and we look homeless. Like my kids are in like mixed-matched outfits or whatever. They just dress themselves. We're heading to the airport. And I had this moment of like, Rachel, you're okay. Like, you are fine. You are fine. You do not have to, number one, keep up with these strangers.

Starting point is 00:04:42 And even if they looked at us and judged us, okay. So what if they did? I don't even know where those people are right now, right? That you have a momentary passing. So the moment you start to feel insecure or like, oh my gosh, do we fit into where we are, like, throw all that out the window, okay? So remember, who you are is so much more important than what you present. So the character part of life, you guys, is huge, where I feel like we spend so much time on the external that it really erodes who we really are. So focusing on

Starting point is 00:05:13 you and your character is massive. So practicing contentment as well is going to help you so much. So finding gratitude and humility. So remember, what you have is not who you are. Now, there is one thing that anyone at any income level can do that is pretty much free of judgments. Now, before I tell you what that is, I do want to tell you about one of our sponsors, delete me. If you don't remove your personal data from the internet, it's basically like a billboard out there for everyone to see your name, your address, your email, even your kids' names that are out there on sketchy data broker websites. And these data brokers collect your data, sell it, and that puts you at risk for scams and fraud. But here's the good news. Delete me removes your data and helps protect.

Starting point is 00:05:54 you from fishing, harassment, and other online threats. Winston and I use Delete Me, and it saves us so much time and worry. So you guys, your family safety and financial security are way too important to leave exposed. So sign up for DeleteMe and take control. Go to join DeleteMe.com slash Rachel for 20% off, bring your monthly costs to under $9. Or you can click the link in the description. All right. The third thing to always remember when you are buying anything, whether it is quiet luxuries or maybe something at Walmart is pay cash. Okay, paying cash and using your money for stuff is going to allow lower stress and keep you in check with your reality. Because I do think when you live a life of debt, it can kind of take you out of the reality of what is true for you

Starting point is 00:06:40 in your actual money situation. But when you pay with your own money, it keeps you present. Now, if this feels kind of daunting and it feels like, oh my gosh, like this feels too much, I have been living with debt or maybe I'm not used to living within my means, then I highly recommend every dollar. It's a budgeting app and it's fantastic because it helps you look at all of your expenses in different categories and know where your money is going to make sure that your money and your income is going to the things that you actually value and want. So make sure to check that out. Now, if you have ever felt like once you have made a certain income, all your problems are going to disappear. Well, if that's you, make sure check out this episode, why your income doesn't

Starting point is 00:07:20 guarantee wealth. You can click right here to watch that or if you're listening on podcast, I'll put a link below. All right. You guys remember to take control of your money and create a life you love.

The Rachel Cruze Show - You’re Defining Success All Wrong (And It’s Costing You)

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