CNLP 392: Rachel Cruze on Your 7 Money Motivations, How to Make Financial Progress, and What Matters Most Financially Facing an Uncertain Climate
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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.
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.
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.
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.
Text CAREY to 33777 to join more than 80,000 subscribers to our leadership content
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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
Looking for a key quote? More of a reader?
Read or download a free PDF transcript of this episode here.
So you want change? Here’s your step-by-step plan to follow through.
- Why aren’t people buying in?
- How come I keep carrying the weight of this alone?
- How can I create a plan and actually hold people accountable to it?
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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.