Rachel Cruze identifies 7 money tendencies everyone has: From safety or status, abundance or scarcity and experiences or things. She runs through all 7 motivators to help you understand your tendencies.
She also outlines what she learned during the crisis of 2020 and how you can prepare for an uncertain year ahead.
Welcome to Episode 392 of the podcast. Listen and access the show notes below or search for the Carey Nieuwhof Leadership Podcast on Apple Podcasts or wherever you get your podcasts and listen for free.
Plus, in this episode’s What I’m Thinking About segment, Carey shares his single best piece of financial advice for any leader.
Guest Links
Instagram | Facebook | Twitter | YouTube | Website
Episode Links
The 30 Day Pivot
The world has never changed more quickly than it’s changing right now, and leaders have never felt overwhelmed.
I constantly hear from leaders that everything is changing so fast it’s just impossible to keep up…decision fatigue is a real issue these days. You may not even feel like you have the bandwidth to do one more thing.
What if you could short circuit that?
Here’s the thing… you and your team get overwhelmed by decisions for a few reasons:
- You can’t figure out the best path to take.
- You tend to be a perfectionist.
- You’re driven by a fear of making the wrong decision.
Decision-making can be exhausting. And when the decision-making process is tiring, it makes taking action even harder.
If you want to simplify your decision-making and get your team action-oriented, check out The30DayPivot.com to start making progress in the next 30, 60 and 90 days.
Generis
Imagine your church as a passionate community of committed givers who consistently grow in their understanding of biblical generosity and propel your God-inspired vision forward. Imagine a leadership voice representing stewardship and generosity throughout the church and with the staff.
My friends at Generis are passionate about partnering with churches to help them build a thriving culture of generosity. What 2020 taught them is that churches who prioritized Discipleship and Generosity were able to anchor their mission and continue to move ministry forward—even in the face of economic uncertainty.
Generis is launching a new service called Your Generosity Pastor—that will serve as an experienced guide to make this a reality for your ministry. By embedding a skilled Generosity Expert in your team, you can move beyond the “how do we pay for this” conversation to a place where the voice of stewardship and generosity permeates every conversation you have and every decision you make to disciple your people and advance your mission forward.
What could it look like to have a voice of generosity at your leadership table? Find out at generis.com/carey.
CONVERSATION LINKS
Know Yourself, Know Your Money by Rachel Cruze
Smart Money Smart Kids by Dave Ramsey and Rachel Cruze
Love Your Life Not Theirs by Rachel Cruze
Text CAREY to 33777 to join more than 80,000 subscribers to our leadership content
*As an Amazon Associate, I earn from qualifying purchases.
INSIGHTS FROM RACHEL
1. Many people had a wakeup call during the COVID pandemic
Heading into the pandemic, 78% of Americans were living paycheck to paycheck. Many of them received a rude awakening when the COVID-19 lockdowns went into effect, and they suddenly got behind on bills. Hopefully, a lot of people were able to learn the value of how to save and not live beyond their means.
2. An emergency fund isn’t optional
So many people view an emergency fund as something that’s “nice to have.” After the COVID-19 pandemic, everybody should secure a 3-6 month emergency fund as an absolute “need to have” if you want to have a stable financial life should a crisis occur again.
3. It’s so important to know your natural money mindsets
Winning with finances takes 80% behaviour and 20% head knowledge. So, why do people overspend? And why are some people always worried that they don’t have enough money?
In her latest book, Know Yourself, Know Your Money, Rachel outlines 7 money mindsets we all have. Once you know where you fall on the spectrum, you will have an easier time managing your financial behaviour.
Quotes from Episode 392
Don't let fear be your financial advisor. @RachelCruze Share on X80% of personal finance is behavior and 20% of it is head knowledge. @RachelCruze Share on XWhen you get out of debt, you get to do things with your income versus paying for the past. @RachelCruze Share on XHaving a financial buffer between you and life is so much more important than ever in our world today because it gives you breathing room. @RachelCruze Share on XThere's a level of control we can have with our money, and basing that control on facts versus fear is wise. @RachelCruze Share on XPay attention to your day-to-day decisions, as they can really make a big impact over time. @RachelCruze Share on XIf you're sloppy in the little things with your money, your overarching finances could become really sloppy. @RachelCruze Share on XI've learned to ask the question, 'If nobody sees this purchase, would I still buy it?' @RachelCruze Share on XA lot of people either mirror very similarly what their parents did and they just keep the same habits, the same environment, or they do the complete opposite. @RachelCruze Share on XWhen leaders ask me personally if I have any financial advice, I tell them to hire an independent financial planner. It was game-changing for us. @cnieuwhof Share on XThe nice thing about an independent financial planner is that they're not also managing your retirement savings, unlike a financial advisor. @cnieuwhof Share on XIf we had discovered a good independent financial planner 30 years ago, it would have gotten rid of a lot of uncertainty and perhaps a few disagreements along the way. @cnieuwhof Share on XRead or Download the Transcript for Episode 392
Looking for a key quote? More of a reader?
Read or download a free PDF transcript of this episode here.
Watch Back Episodes of The Podcast on YouTube
Select episodes of this podcast are now on YouTube. Our YouTube Channel gives you a chance to watch some episodes, not just listen.
SUBSCRIBED YET?
Subscribe for free and never miss out on wisdom from world-class leaders like Brian Houston, Andy Stanley, Craig Groeschel, Nancy Duarte, Henry Cloud, Patrick Lencioni, Francis Chan, Ann Voskamp, Erwin McManus and many others.
Subscribe using your favorite podcast app via
Spread the Word. Leave a Rating and Review
Hopefully, this episode has helped you lead like never before. That’s my goal. If you appreciated it, could you share the love?
The best way to do that is to rate the podcast on Apple Podcasts and leave us a brief review! You can do the same on Stitcher and on TuneIn as well.
Your ratings and reviews help us place the podcast in front of new leaders and listeners. Your feedback also lets me know how I can better serve you.
Thank you for being so awesome.
Next Episode: Rob Pelinka
Rob Pelinka, L.A. Lakers’ GM and Vice-President of Basketball Operations, talks about the challenges and strategies involved in helping the Lakers move from the worst in franchise history to World Champions in three years, how he manages players like LeBron James and Kobe Bryant, the keys to great negotation, and why Kobe Bryant invited him to swim with great white sharks to study their movements and habits.
Subscribe for free now so you won’t miss Episode 393.
