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rachel cruze

Practical Money Wisdom for Parents with Rachel Cruze


Want to do better with your money? We all do, but how can we create a budget, get out of debt, and save money without making life complicated? And can we show our kids good money habits, even if we haven’t had the best relationship with money?

Today we are excited to have Rachel Cruze to talk to us about practical money wisdom for parents. She is the daughter of David Ramsey and the author of Know Yourself, Know Your Money, which is going to be released January 5th, 2021.

Rachel teaches us how to develop self-awareness around money, discover why we handle money the way do, and make spending and saving an open, stress-free topic in the household.

Get ready to understand yourself and know your money!

Rachel Cruze

Dave Ramsey’s daughter Rachel Cruze grew up learning how to win with money. She understands the dangers of debt, and she’s seen firsthand the damage it can do. She knows how to give generously, spend wisely, and save for the future. Now Rachel has a passion to help others learn those same principles, and she’s traveling the country doing just that.

Rachel has been a guest on Good Morning America, The Today Show, Katie and Fox & Friends. She’s a contributor for magazines like Woman’s Day and Glamour, regularly appearing in print and on the air on radio stations across the country.

Rachel is a versatile, personable and engaging speaker who is equally at home at community events and schools as she is in front of thousands in a packed arena.

Know Yourself, Know Your Money

The biggest obstacle from where you are today to becoming wealthy is NOT opportunity or income—it’s you controlling you.

In her brand-new book, Know Yourself, Know Your Money, personal finance expert Rachel Cruze explores how your behavior is the biggest obstacle to making good decisions with your money. When you take a closer look at your behavior and beliefs, money problems are usually just a symptom of a larger problem in your life.

Rachel explains that the way your parents viewed money shaped YOUR money personality and walks through the four types of childhood money classrooms. Next, she breaks down the six money fears that drive most money decisions, and teaches you how to make healthy money decisions.

Understanding yourself is essential to understanding the way you handle money. This book will help you unlock the psychology, strengths, and challenges that come with each of the brand-new Seven Money Tendencies.

Once you understand your past, this book will take you beyond the Ramsey Baby Steps and get to the root of all of your decisions—your mind, your behaviors, and your beliefs— so you can change your money mindset for good.

What You’ll Learn

  • Most parents don’t have the tools to know how to talk to kids about money.
  • Parents need to learn how to handle money so they can teach their kids.
  • Age-appropriate chores teach kids that work equals money.
  • The more self-aware you become, the better your relationships will be as a spouse and parent.
  • Why you handle money the way you do
  • How your childhood affects the way you think about money
  • When you’re not aware of money tendencies and fears, it’s hard to walk the journey to better financial stability.
  • Identifying your problems helps you become better with money faster.
  • The four money classrooms in families:
    1. Anxious, tense and not talked about
    2. Unstable, stressed but verbally open
    3. Unaware, free but not talked about
    4. Secure, communication open, and emotion is free
  • You don’t have to become wealthy, but you’re in control and you’re not stressed.
  • You don’t have to be perfect to teach your kids.
  • Enjoy some of your money. Decide what you value more: experiences or tangible things? Status or security?
  • Understand your spouse’s money type.
  • Why is there so much fear around money?
  • Lack of security is the number one fear for women.
  • Fear can be a gift to help you get out of debt.
  • Creating an emergency fund of 6 month’s expenses will take a huge stress off.
  • Giving your kids the dignity of their own independence
  • What lessons can we teach our kids right now?
  • Allow your kids to make small inexpensive mistakes in the household so they will know better as an adult.

RELATED EPISODES:

The New Mindset for Money with Grant Sabatier

How to Raise Money-Empowered Kids with John Lanza

Money and Your Marriage with Jesse Mecham


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Rachel Cruze’s Links

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KIDS AND ALLOWANCE

Kids and Allowance: Money-Smart Habits in Action


In our previous episode, John Lanza, author of The Art of Allowance, shared some ideas about kids and allowance that probably made a lot of us scratch our heads.

He told us that the traditional practice of giving allowance for chores was not a good way to teach kids about managing money or work ethic.

He also explained what a breakthrough allowance is, and how as kids get older they should get as much as $100 in allowance!

These ideas may seem crazy at first, but they work in unexpected ways. Listen to what happened when I implemented these money-smart habits with two of my kids.

When kids are the stewards of their own money, they become discerning, proactive, and empowered. #parenting #kids #children #chores #allowance #money #finance Click To Tweet

RELATED EPISODES:

How to Raise Money-Empowered Kids with John Lanza

The Easy and Effective Way to Budget for Your Goals with Jesse Mecham


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How to Raise Money-Empowered Kids

How to Raise Money-Empowered Kids with John Lanza


What’s the right way to teach our kids about money? How do we create a system for chores and allowance that works? How do we show them to save and spend wisely? Today’s show is all about how to raise money-empowered kids, and you might be surprised at the tips listed in this episode!

John Lanza is the author of the book The Art of Allowance and the host of the podcast with the same name. He tells us what most dads are doing wrong, like that age old system of giving allowance for chores. He also talks about what is the appropriate amount to pay kids by age, how to teach them to distinguish between needs and wants, and the three core money-smart habits they need to start learning from age five.

'We’re not raising a generation of kids who are going to be on the dole. We are raising a generation of kids who are going to have some practice with money in a low-stakes environment.'—John Lanza @johnlanzajr #parenting #kids #money… Click To Tweet

'Kids have to have actual money to learn about money.'—John Lanza @johnlanzajr #money #kids #finance #parents #family Click To Tweet

What You’ll Learn

  • Why you shouldn’t couple chores with allowance
  • The 3 core money-smart habits
    • Learning to set and save for goals
    • Distinguishing between needs and wants
    • Making good money choices
  • Why chores should be done as being part of the family
  • The 3 Money Jars each kid should have
    • Share
    • Save
    • Spend Smart
  • Charity: Teaching them that giving is a good thing
  • Making sure kids know to pay themselves first
  • How to empower kids by letting them make their own choices using their discretionary money
  • Why you should let kids make money mistakes
  • How to motivate kids to do work without paying them by taking away privileges instead of paying them
  • Reducing the negative associations around money
  • The appropriate allowance amounts for kids per age
  • Why you should start the money conversation before age five
  • How to teach delayed gratification
  • How to create reference points for spending
  • When and how to implement the “breakthrough allowance”
  • What kind of expenses should kids be responsible for as they get older. like:
    • Phone bill
    • Gifts
    • Extra food outside of home with friends
    • Clothing
  • The issue of using credit cards in front of the kids
  • Teaching kids about interest and investment


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John Lanza’s Links

theartofallowance.com

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Teaching Kids to Take Ownership


Thursday Throwdown is our short show with everyday, relatable dads. Today, Dad Edge Alliance member Joe Courtney talks about teaching kids to take ownership.

Fatherhood is imperfect. It’s messy. It’s crazy, but one thing we need to keep in mind is that our kids are watching us. The example we set means more than whatever we tell them. That’s why it’s crucial to always keep our word and be accountable for our mistakes.

Fatherhood is imperfect. It's messy. It's crazy, but one thing we need to keep in mind is that our kids are watching us. #dads #men #fathers #fatherhood #dadlife #parenting Click To Tweet

Joe Courtney is a husband and a dad to two boys. When it comes to spending time with his sons, he remembers his father’s example. His dad was a lineman and would come home tired from long, physical days of work. But when Joe would ask him to play, no matter how beat his dad was, he rarely said no.

Joe tries to do the same with his kids. As his wife Heather believes, they’re not raising boys. They’re raising future husbands and fathers. It’s important to show them how to follow through with promises when interacting with any person in life.

Joe also teaches his boys ownership by giving them responsibility. They have to make sure their chores are done. They take an active role in taking care of themselves. They are also in charge of their toys. These small measures translate into accountability for kids and give them a solid structure to build on in their future.

MENTIONED EPISODES:

How to Quit Your Job in 12 Months with Ryan Enk

 

Like the show? Leave an iTunes review.

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 Resources

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==>NEW!!<== Grab a copy of The Dad’s Edge AUDIOBOOK on iTunes or Audible

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Check out this free resource on: CONNECTION WITH YOUR SPOUSE

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Links


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Dad Edge Alliance


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chores and allowance

Chores and Allowance: How to Teach Kids Money Management

In a recent Good Dad Project episode with Jim Sheils, we talked about how kids aren’t taught how to manage money in school. It’s up to parents to make sure our children know what it means to work for a living and how to manage the money they earn.

I was against giving allowance until about thirty days ago. In this episode I share why I decided to give my kids an allowance for chores and how it changed the way our whole family thinks about money.


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RESOURCES

Grab a copy of The Dad’s Edge AUDIOBOOK on iTunes or Audible

GRAB A COPY OF THE DAD’S EDGE HERE

Check out our Dad Edge Group on Facebook Request Entry Here

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Check out this free resource on: CONNECTION WITH YOUR SPOUSE

Check out this free resource on:  CONNECTION WITH YOUR KIDS

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