[Music] well hey you guys so do you ever feel like you're constantly just hearing what you should and shouldn't do with your money well trust me there is a lot of noises out there a lot of messages so that's why today I'm going to be debunking some money myths and just some straight up lies that our culture tells us when it comes to money so I have six lies that that I'm going to tell you about I'm going to tell you the truth and also give you practical tips so that you can have control when it comes to your money all right here we go lie number one budgeting means that you can't have any fun know I hear this all the time people are like oh I don't want to budget it feels like it's you know going to limit what I do with my money it feels like you can't have any fun you have to be cheap but can I just tell you a budget does not limit your freedom a budget gives you Freedom it gives you the permission to spend money okay so listen you go out to dinner and you're like yeah we're having a great you know date night this is so fun and knowing how much you're going to spend on out to eat money that month you're able to be like okay how much do you want to spend tonight on this dinner and that kind of just helps guide you on how the night's going to be and again some people are like oh my God that's so boring like just YOLO go have fun but what it really does is it takes away second guessing it takes away guilt spending because you have been intentional and you have a plan so there's no more shame of like this uncertainty of you know waking up the next day and being like Oh man was that too much I don't know I don't know if it's in the line of the budget then you can spend it it's a really beautiful thing okay so budgeting is one of the things that again for everybody I want you to do and if you don't have every dollar the budgeting app make sure to do it because this is an incredible tool to help you not only create your budget but stick to your budget so go to everydollar.com Rachel create your first budget and continue to do this and again a budget is your income for the month minus all of your expenses including giving and saving should equal zero so every dollar just has a name it's just a plan for your money and the other thing is you guys your budget can change throughout the month you can be like oh well we're not doing this much in this category we're going lower here and up here like you get to decide and that's the beautiful thing is you have control over your money all right line number two is that you have to have debt to survive okay listen debt is everywhere it is normal this is what everyone us and the other thing is is that everyone according to statistics for the most part is struggling financially like there is this correlation when you have debt you have car payments and student loans and you're chasing these credit card points and paying off the bill or not every month and it's all these payments going out that is your hard income and your work what you make from working is going out to support all these other entities in life and not your own okay so there is a freedom when it comes to getting paid and that money just staying in your account and then you get to decide where that money goes and usually if you're wise you're like okay we're going to spend some of that we're going to give some of that and we're going to save and invest and then when you get to that point of investing then your money starts making money on its own which is a beautiful thing and you're doing that for yourself and your family not for banks and not for you know Toyota motor company over there so it is an amazing place to be when you are debt-free not only mathematically speaking but also from the emotional side when you don't owe anyone anything it gives you more options it's a really beautiful thing now tactically if you are in debt you want to start paying it off you want to get a $1,000 emergency fund first and then start paying your smallest debt off first pay minimum payments on everything don't get behind but start attacking that smallest debt which means you may be taking that budget that we talked about in lie one cutting some things out it may mean taking on an extra side hustle for just a period of time just to get some extra cash flow in to get it paid off as quickly as possible all right line number three I'll finally be happy when I can buy Blake and if you have said that I have said that yes it is a human cycle that we just like subconsciously believe where you're like oh my gosh I need you know those new jeans from homie this season those are so cute like that will complete my life you know or oh my gosh if I could just have this thing over here oh that would make me feel better and that's just I I want that like these like subconscious thoughts that we have when it comes to stuff is unbelievable and then the problem is is when we believe that that stuff is somehow going to complete us that somehow we are not full and whole and if I have this thing or wear that thing live here vacation there suddenly I'm going to change and that's just not the truth you are who you are until you decide to change and that's self-work and that is doing stuff on the side has nothing to do with what you buy and so there's a level of contentment that is so powerful in fact I think contentment is one of the most powerful principles out there godliness with contentment is great gain is what scripture says and that is true you have such gain in life when you are content there is so much more joy in life when you are content and you're not just in this Rat Race chasing chasing chasing the next thing so it's a beautiful thing to master it's more of a heart issue there when it comes to contentment but I think gratitude humility like different things really breed this level contentment that helps you live your life in a more peaceful way all right line number four you don't need anyone in your money business oh man we are so American sometimes in our independence of like I'm doing this on my own I'm pulling myself up on my bootstraps look what I did I'm doing this like there's a beauty in Independence for sure right like I'm not discounting that but I think we're also made and created to live life with other people so when it comes your money specifically like have people in your life that you talk about the subject with like it's a beautiful thing to have people that will celebrate with you that will sit in the struggle when it's really hard and you're in a hard season but having people in your life and not being isolated I'm telling you is a better way to live now if you're married on a tactical sense that person is your partner right there is a level of working together that is very in tune very together when it comes to finances but if you're single have someone in your life that knows everything honestly having somebody that you can say hey I want to make this big purchase you know my numbers is that smart is that wise and they may be like you are second guessing yourself yes go and get it you can afford it or they could be like I don't know this and this kind of make me a little nervous what do you think about that like just having somebody to talk through things with and I've even read in a recent book that a couple had like three other couples where they shared everything with these other couples too so I'm like you know it can go as wide as you want on the vulnerability side of money and sharing it with people but I just want to encourage you to have people in your life that you can talk to when it comes to money cuz we are not meant to do life alone and part of not doing your money life alone is having an expert in your corner having somebody that does this stuff day in and day out is so crucial and when it comes to investing specifically having a financial expert is really key so if you're looking for a financial expert to help guide your financial journey I really recommend connecting with a ramsy trusted Pro I've added a link in the description so you can check that out and find one interview a couple of them and just see hey who do you click with but having a pro in your corner is really really key lie number five is I'll start saving after I blink I'll start saving after this vacation I'll start saving after Christmas I'll start saving after the kids get back to school like whatever it is it's always this I'm going to push it off later or maybe it's just this YOLO mentality completely where you're like oh I'm good I'm just going to live life I'll just worry about that later down the road can I just tell you like life goes fast okay and later down the road in your late 30s early 40s late 40s early 50s like all of those that time it comes a lot faster than you expect okay so I want you to have fun I want you to enjoy life but I also want you to be wise and be thinking about the future I promise you the future you will always be like dang it I wish I started earlier we hear that all the time and I don't want that regret to follow you but I do want you to be wise when it comes to savings so when it comes to saving the $1,000 emergency fund is baby step one and the baby steps this is a guide to help you when it comes to your money and a step-by-step plan so again that first thing is the emergency fund get that ,000 emergency fund then pay off debt like we talked about earlier and then save up a 3 to six month emergency fund that is like your savings okay you can have that in a high yield savings account a money market account put that away way and then be saving really for your future when it comes to investing and invest 15% of your income into retirement after those first three steps are done and that will get you on a path but you want to make this a rhythm when it comes to money you always want to be giving you always want to be saving and you always want to be spending and enjoying and those will look different different percentages maybe throughout your life or throughout the season that you're in but overall saving needs to be part of your life all right lie number six is I don't have any money left to give I hear this a lot so we just talked about three things to do with money give is one of those things and when I talk to people again they go down the budget and they're like I have no more money left to give I don't know and I'm like that's cuz you have your budget upside down turn around okay and this feels so counterintuitive to people when I encourage people to give but if you are on a financial Journey that you create the habits you create the mindset that it's just all about you or I would even go and say all about just your family like when it's just so uh tunnel Visions right there is something that you're missing in life because when that's your habit for a long time and then maybe you start doing well with money you start making more money you start making more on investments or like whatever it is and you start actually Building Wealth that tunnel vision continues to stay there it really does and I think the further along you get the harder it is to break that and what you missed out on when you're not giving is you miss out incorporating other people other areas of life into your life and when you live with an open hand there is a joy that comes Beyond you beyond even your immediate family there is something there when you have the perspective that money is there to be a tool to create a life that you love part of that life that you love is giving because of the joy that comes with helping people and it's not this like clogged up thing where it's so tunnel vision I think there's a level of that when you are so focused on you for so long there is a selfishness that URS it really does and I think you can give in so many different ways not just money but I think money is one of the hardest I really do so time and money those are hard hard things to give away but I would encourage you to do it CU I think it just enhances your life overall so tactically what I say about this is to give a little until you can give a lot and 10% is always a great Baseline to start with that may feel like too much for you starting out and that's fine may feel like too little I don't know but have somewhere that you start I challenge you to do that start next month with your budget and say for the first time we're going to give something away and see what it does so you guys there it is we have uncovered some truth behind some big lies that we may hear every day again outwardly or maybe we feel it internally but getting to this point where money is a tool to create a life you love is what I want for you and I think you have the ability to make wise choices not just following the crowd but I want you to have Peace and Freedom when it comes to your money and if you want to learn more about what might be standing in the way of your Financial Freedom check out my video to learn why some people earn high salaries and are still baroke and it's more common than you think so I hope this video again gives you a fresh perspective when it comes to money management and to remember to take control of your money and create a life you love
