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Zusammenfassung von Love Your Life, Not Theirs

Name: Love Your Life, Not Theirs
Rating: 4.3 (498 reviews)
Author: Rachel Cruze

Rachel Cruze

7 Money Habits for Living the Life You Want

4.3 (498 Bewertungen)

15 Min.

Kurz zusammengefasst

Love Your Life, Not Theirs by Rachel Cruze offers practical advice for avoiding comparison and living within your means. It encourages readers to make intentional choices that align with their values and financial goals, ultimately leading to a more content and fulfilled life.

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Zufriedenheit Wohlstand Finanzen Finanzpsychologie

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Love Your Life, Not Theirs
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What’s in it for me? Get on top of your money habits and start living life for yourself.

What comes to mind when you hear the word habit? Fingernail biting or excessive drinking, perhaps? Sure, there are plenty of bad habits out there, but there are also good and healthy ones. Getting up early and having a healthy breakfast. Turning off the phone at dinner time.

Put simply, a habit is just anything that you do regularly or predictably. To be in charge of your life is to not only be aware of your habits, but control them – get rid of the bad, and develop the good.

This brings us to possibly the most significant habit you can work on – your approach to money. Take a moment to think about your money habits, and the good or bad effects they have on your life. Maybe you always prefer to use cash. Are you an impulsive purchaser, or do you carefully discuss everything with your partner?

Breaking bad money habits and instilling good ones can be tricky, especially since it’s often hard to even realize the damage that’s being done. In this Blink, you’ll learn some of the most common problems people have when dealing with money, and how to address them.

Whatever your current financial situation or past mistakes, it’s never too late to start working on the life you want. This isn’t a one-off get-rich-quick scheme, but rather some key skills that you can incorporate into your everyday life that will greatly improve your attitude to money, and the habits that you build around it. Think of it this way: “Practice doesn’t make perfect; practice makes permanent.”

With that in mind, let’s get started with the first healthy money habit. And it’s not what you’d expect.

Comparing yourself to others is the quickest way to financial ruin

Imagine returning from a fantastic holiday only to find your joy dampened by a friend’s seemingly superior vacation posted on Instagram. Suddenly, you’re filled with an urge to plot your next trip. But why?

Comparing ourselves to others is embedded in our culture – the social media rectangle in our pocket gives us a constant stream into the highlights of others’ lives. But financially speaking, this is a game you can never win. They are showing their best selves – more than that, they are showing a version of themselves that doesn’t even exist. It’s no wonder you’re left asking, “Am I good enough?” or considering a better car or a nicer holiday.

Such comparisons, and the bad financial decisions that often follow, ultimately stem from your own insecurities. You’re not going to change what other people do or post on social media, but you can refocus on your own blessings – and let go of other people’s #blessed.

The first step is to acknowledge that maybe your idea of your friends’ holiday, or marriage, or social life, isn’t accurate. You have no idea what’s really going on, what doesn’t make it to your feed. So stop worrying.

Having nice things isn’t the same as wealth. Someone who has a nice car might in fact be in huge debt. The flipside of this is having wealth doesn’t mean you have nice stuff. The truly wealthy aren’t buying things they don’t need.

Change your mindset. Cheer for others instead of competing. Your friend went on a nice holiday? Good for her! Your cousin got a promotion? That’s great! Separate their achievements from your self-worth. Don’t compare yourself to your parents either; their longer lifespan and different circumstances make such comparisons unfair.

Reflect on the word “deserve,” and what it means to you. Avoid justifying luxuries with “I work so hard, I deserve this.” The truth is, you don’t deserve anything you can’t afford. Work diligently, but reward yourself wisely if saving is your goal.

At the end of the day, the ultimate cure for comparative living is to simply be content. Embrace who you are, and what you have. Your two best friends here are gratitude and humility. If you are happy with what you have, and think of yourself less often, your spending habits will flourish.

With that habit under your belt, it’s time to tackle one of the biggest obstacles to financial success: Debt.

Lose the debt and live your life

We’ve all been there. There’s something just out of our budget, that we really really need. Be it a new couch, a sleek new phone or a car, it’s tempting to take out a loan, initiate a downpayment and walk away with your coveted item – confident that you’ll pay it off later.

Welcome to debt, that formidable four-letter word. Whether it’s a car payment or a student loan, if you owe anyone anything, for any reason, you’re in debt. While it may seem like a convenient solution to an immediate need, it takes both a financial and emotional toll, affecting your work, spending habits and lifestyle.

Use a budget to take control of your money

Imagine being on holiday with unlimited money, and the freedom to spend it on whatever you want. Sounds great, doesn’t it? Undeniably, spending money is fun – but the concept of budgeting dampens that joy.

Think of your budget like organizing a messy closet. Organizing your finances gives you clarity on what to allocate where, and what to eliminate. It’s part of the freedom and responsibility of growing up – just like keeping your living space tidy.

Save seriously and you’re set for life

Life is full of surprises. While good surprises are welcome, you need to anticipate and prepare for the bad. A car crash? Dental emergency? Global pandemic? Savings won’t prevent these, but they give you options when such events occur.

Priority number one: the emergency fund. If you don’t have one, start immediately. Begin with $1,000, which, in a crisis, can be the difference between immediate resolution or long-term debt. Eventually you’ll want to have three to six months’ worth of total expenses in savings. The weight this will take off your shoulders is priceless. Remember, it’s insurance, not investment, so keep it separate from other savings.

Intelligent spending leads to effective saving

Picture this – you’re in a kitchen store, considering two different sets of fancy pots and pans. How on earth can you decide which to get? You’re missing a better third option – not buying them at all, and saving that money. This is one of the most important financial habits you can cultivate – thinking before you spend.

Now, there’s no inherent harm in spending money. The problems come when you start spending like you’re rich. This is an easy trap to fall into – we are constantly bombarded with images of happy, wealthy people, so we’re sucked into a lifestyle we can’t afford. The line between need and want becomes increasingly blurred.

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Worum geht es in Love Your Life, Not Theirs?

Love Your Life, Not Theirs (2016) looks at the pervasive issue of financial comparison, with a focus on personal values, informed spending and sustainable money habits. It encourages an authentic lifestyle, advocating for financial stability through debt-avoidance and saving for the future, rather than through striving to keep up with others’ expectations.

Wer Love Your Life, Not Theirs lesen sollte

The financially hopeless looking to get their savings back on track
Young couples who want to set a solid foundation for their future
Anyone who finds themselves wondering where their paycheck has gone at the end of the month

Über den Autor

Rachel Cruze is a financial expert and host of The Rachel Cruz Show. Apart from appearing on many talk shows, she works at Ramsey Solutions where she teaches people to avoid debt and save money. Her other books include Know Yourself, Know Your Money and Smart Money Smart Kids.

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