[Music] so the first step toward Building Wealth is really believing that Financial Peace and Freedom are actually possible but it takes more than just that mindset to win with money so today I'm going to share with you my honest maybe a little tough love advice to anyone out there that really wants some stability when it comes to their money now make sure to subscribe to the channel and share this video with the friends all right number one remember I'm talking about tough love here piece of advice get over yourself that's right mhm so much of our ego you guys is attached to our decision- making I was talking to one of our writers the other day and she was like oh my gosh my pride sabotaged me cuz she went in which I totally related to this to this like really fancy Boutique everything was like $300 or more and she had to exchange this Christmas gift that she got from a family member and so she went and she was like I felt so like pretty woman's right where they're all just like looking at her and she felt this like pressure to like buy stuff and she yeah it was like this whole thing and all because of our emotions and how we feel and I know we have all been in situations where we feel that but the problem is is that type of emotion even though that was like a One Moment In this one store can Ripple through the way we spend our money because we end up spending money just to impress people and as the old quote says spend money we don't have to impress people we don't even like so listen give yourself Grace we all can fall into this trap but we got to get over ourselves because if our ego drives all of our decision- making will probably end up broke for the rest of our lives so put the ego aside now also when it comes to spending your money my second piece of advice is number two be an adult and budget guys you have to know where your money's going and we talk about budgeting a lot on this show but it is so true I mean this is such a powerful tool when it comes to your money and I say be an adult because a lot of people give a lot of excuses for budgeting which some of them I totally get where people are like oh well a budget you know just doesn't work for me or I have an ear regular income so I can't budget or I tried to budget it just doesn't work for me and a lot of excuses but here's the deal anyone can budget does it take time does it take learning and changing it throughout the month to get it right yes absolutely but to be an adult and say hey I'm going to have a plan with my money and I'm actually going to follow my plan and not just let my money happen to me and if you need a great budgeting tool every dollar is my favorite budgeting app it's the one that I use and so many people you know I mean millions of people now have downloaded it which is amazing and so make sure to check that out I'll leave the link down below all right number three a little tough love do some fifth grade math because I want you to see how much your debt is actually costing you now I love to use our ramsy investment calculator to really figure out if you were in debt even minimum payments throughout your entire life and instead of paying those to a bank if you just had invested that for yourself what it would be so let's just take an example of a car payment so on average um Now new cars their average car payment is like $700 you guys kind of in that range used cars is around $500 so if you think about if you add two of those together per household then you're paying $1,200 per month in car payments so with a 10% rate of return if you had not paid that $1,200 out to someone and instead invested it and you did that every month starting at age 35 to age 65 you would have 2.7 million is that not crazy but again we're throwing our money away to car payments and instead of investing it and you can do that with all different types of debt because it's not only the payments that you're taking your income and paying but it's also the interest on top which basically is that penalty of borrowing money and so it ends up being even more than that so it is wild you have to think about opportunity costs if you're sending your money somewhere then it's not being used for you now I understand we're going to spend money and enjoy money so you're not going to save every single penny or invest every single penny of your money but I do want the bulk of your money working for you and not working for the bank all right another part of being a responsible adult also is protecting your personal info from internet scammers which is why I personally use delete me and we spend so much of our Lives online I mean if you think about it social media shopping banking I mean so much of what we do is on the internet these days and so when it comes to that our names our addresses our work history phone numbers email addresses so much more is out out there for bad guys to exploit and so we need to protect ourselves and that is why I love and use delete me so delete me finds and removes your info from hundreds of data Brooker 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 plan start as low as $9 a month so sign up today at join delet me.com Rachel for 20% off or I'll put the link in the description all right number number four well tough love is it's not all about you so much of our world you guys is so self looked at right like we like have cameras on the front of our phones to take videos and pictures of ourselves like so much of what we think about is about us us us us us and again when it comes to your money for a season that is going to be important because you want to get yourself out of a financial hole if you are so if you're working a ton to get out of debt or you have a savings goal to get an emergency fund to kind of get this Baseline to be healthy with your money absolutely understandable but there is a point where for the rest of our lives we can't just keep looking at ourselves me me me me me me when it comes to our money you actually want to look at other people look at other situations look at what's going on in the world and when you do that what ends up happening is you like take your eyes from you up and around and that is where generosity comes into play because there is not this amount of money that's going to make you happy there's not again I'm all about security and being wise with money but I think we're under this illusion that if I just had more more more I would be okay and happier when in fact the research shows the opposite actually when you give the level of joy that you get from giving outlasts buying actual things for yourself and so generosity is a big part of your financial picture if you want a holistic healthy life when it comes to your money generosity has to be part of that and so what the beautiful thing is is that again it takes you from like this burden of like oh my gosh I'm going to just like focus on me all the time to actually opening your hands and not letting money control your life because you have an open hand mentality where you're actually going to be generous and so it moves you on the spectrum of being selfish to selfless and selfless people I really do believe have a more not just prosperous life but it's more of just a joyful content life and so understanding that that it's just not about us all the time 24/7 is a part of your financial picture I want you to have now Financial Peace it can't exist really when you are trapped in debt because it is exhausting and there's not a lot of peace that comes when you owe people a ton of money so don't miss my episode on this topic and it's called the fastest way to payoff debt in 2025 you can click here to watch that or I'll put a link down in the show notes if you're listening on podcasts all right you guys remember to take control of your money and create a life you love
