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Can I Laugh On Your Shoulder?

Jan 13, 2021

I remember my journey of becoming debt free. I read so many books about how to take control of your money and how to budget. There are a lot of financial resources out there, but there’s not much about why you handle money the way you do.

My guest today is Rachel Cruze, and she is trying to tackle that very issue. Rachel is a two-time No. 1 best-selling author, financial expert and host of The Rachel Cruze Show. Her new book is Know Yourself, Know Your Money: Discover WHY you handle money the way you do, and WHAT to do about it!

3:42 – Rachel Cruze 101

  • Rachel is an author and speaker and loves talking about anything involving money and personal finance. She is the daughter of financial expert Dave Ramsey.
  • She became interested in public speaking when she was 15 and realized it was a gift she wanted to share.

6:16 – Being Dave Ramsey’s kid

  • Rachel jokes that people think she had mutual fund birthday parties and summer budget camps growing up. But her mom and dad taught her a lot about money. They filed for bankruptcy the year she was born.
  • She learned how to handle money emotionally, spiritually and tactically. But the conversations with her parents were never obsessive or legalistic. Her parents let her make mistakes so she and her siblings could learn to handle money.

9:38 – What she learned from her parents

  • Rachel watched her parents become successful with money and be outrageous givers. She has been impressed with the private ways they are generous, without any fanfare. 

11:20 – My childhood and financial past

  • When times get tough, some turn to alcohol or drugs. As I explain to Rachel, I turned to spending money and used it as a coping mechanism. I was $36,000 in credit card debt in 2008 and became debt free in 2012.

15:28 – Know Yourself, Know Your Money

  • Money is so emotional. There is so much guilt and shame around this topic. Your net worth starts to become your self worth, and you start to believe: “This is who I am.” Breaking that cycle is so powerful.

18:46 – The psychology behind money

  • To understand why you handle money the way you do, you have to go back to the way you grew up.
  • There are four money classrooms people fall into: anxious, unstable, unaware and secure

25:17 – How to begin changing bad money habits

  • You have to have an element of hope. Getting out of debt requires a lot of sacrifice, so you have to know why you’re doing it.

27:12 – Adapting to change

  • Doing a budget is not fun, but once it becomes a part of your life you can’t imagine not having it there. It takes a shock to the system to change.

29:41 – Get to know Rachel

  • What does Rachel do when she wants to treat herself? She doesn’t need a designer bag. She loves spa days, pedicures and pampering.
  • Her favorite song to jam out to? “I’m Proud to Be an American”
  • Her favorite meal? Pepperoni and banana pepper pizza


“Your net worth starts to become your self worth, and you start to believe: ‘This is who I am.’ To break that cycle is so powerful.” - Rachel

“To understand how you handle money today, you have to go back to your childhood.” - Rachel