Powerful ideas from top nonfiction
Try Blinkist to get the key ideas from 7,000+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trial
Blink 3 of 8 - The 5 AM Club
by Robin Sharma
Listen to the Intro
Know Yourself, Know Your Money summary
Rachel Cruze
Discover WHY you handle money the way you do, and WHAT to do about it!
24 mins
Brief summary
'Know Yourself, Know Your Money' by Rachel Cruze is a personal finance book that empowers you to take control of your finances. With practical tools and advice, it helps you understand your money mindset and develop healthy habits to achieve financial success.
Table of Contents
Know Yourself, Know Your Money
Summary of 9 key ideas
Audio & text in the Blinkist app
Key idea 1 of 9
Your view of money is shaped by what you learn about it as a child.
Rachel Cruze’s friend, Amanda, has always loved to shop. For her, shopping isn’t just about finding great deals – it’s a sport.
It gradually became more than that, though. Despite having a well-paying job, she regularly spent more than she was earning. By the time she was in her late thirties, her partner was growing increasingly frustrated with her financial behavior and her marriage was in trouble. Something had to give.
After seeing a counselor, Amanda realized that her behavior was a reaction to growing up with extremely frugal parents – the kind of folks who save the bags from cereal boxes “just in case.”
It turned out that overspending was Amanda’s way of rebelling against excessive thriftiness. This isn’t a unique experience – in fact, just about everyone’s relationship with money is shaped by their childhood.
The key message in this blink is: Your view of money is shaped by what you learn about it as a child.
Financial decisions aren’t made in a vacuum. Some factors, like how much you earn, are obvious. Other factors operate in the background, but they’re no less influential.
As the psychologist and bestselling author Henry Cloud puts it, “How you’re glued together has everything to do with how you spend your money.” If you want to make better choices and improve your personal finances, you have to first understand why you handle money the way you do.
That’s where the concept of the money classroom comes in. This is where you first became aware of the adult world of personal finance.
All children learn about money in two different ways. The first is what their parents communicate verbally. The second is what their parents communicate emotionally.
Different households create different kinds of classrooms. Some parents never discuss money with their children; some don’t talk about money at all. This creates a verbally closed classroom. Others are open – parents bring up issues like bills or investments at the dinner table.
Emotional communication meanwhile can be positive or negative. In some households, children feel a sense of calm when financial topics come up. In others, money is associated with stress and anxiety.
These variables interact to create distinctive classrooms, but thinking about your childhood experiences in this way can help you explore your relationship with money in the present. How? Well, let’s take a closer look at three common types of classrooms and the challenges that come from growing up in them.
Want to see all full key ideas from Know Yourself, Know Your Money?
Key ideas in Know Yourself, Know Your Money
More knowledge in less time
Read or listen
Get the key ideas from nonfiction bestsellers in minutes, not hours.
Find your next read
Get book lists curated by experts and personalized recommendations.
Shortcasts New
We’ve teamed up with podcast creators to bring you key insights from podcasts.
What is Know Yourself, Know Your Money about?
Know Yourself, Know Your Money (2021) tackles personal finance from a novel perspective. Rather than simply showing you how to create a budget or telling you to save more each month, it unpacks the psychology behind decision-making. If you want to improve your financial health, you have to understand why you make the mistakes you do. Get a handle on that and you can start changing your money mindset and build a better future.
Know Yourself, Know Your Money Review
Know Yourself, Know Your Money (2021) by Rachel Cruze is a book that offers valuable insights into understanding our relationship with money and how it impacts our lives. Here's why this book is worth reading:
- With its practical advice and actionable strategies, it empowers readers to take control of their financial well-being.
- By combining personal stories, research, and relatable examples, the book brings the content to life, making it easy to apply to one's own situation.
- The book's engaging tone and relatable anecdotes make it an enjoyable read, ensuring that readers won't find it boring.
Best quote from Know Yourself, Know Your Money
Do not take your time, and do not be half-hearted! Get this $1,000 saved like your life depends on it.
—Rachel Cruze
Who should read Know Yourself, Know Your Money?
- Big spenders and the overly thrifty
- Would-be savers in need of some motivation
- Parents who want to teach their kids about money
Categories with Know Yourself, Know Your Money
Book summaries like Know Yourself, Know Your Money
People ❤️ Blinkist
Sven O.
It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.
Thi Viet Quynh N.
Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.
Jonathan A.
Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.
Renee D.
Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.
People also liked these summaries
4.7 Stars
Average ratings on iOS and Google Play
31 Million
Downloads on all platforms
10+ years
Experience igniting personal growth
Know Yourself, Know Your Money FAQs
What is the main message of Know Yourself, Know Your Money?
The main message of Know Yourself, Know Your Money is the importance of understanding oneself and how it affects their relationship with money.
How long does it take to read Know Yourself, Know Your Money?
The reading time for Know Yourself, Know Your Money varies, but it typically takes several hours. The Blinkist summary can be read in just 15 minutes.
Is Know Yourself, Know Your Money a good book? Is it worth reading?
Know Yourself, Know Your Money is worth reading for its valuable insights into personal finances and self-awareness.
Who is the author of Know Yourself, Know Your Money?
Rachel Cruze is the author of Know Yourself, Know Your Money.
What to read after Know Yourself, Know Your Money?
If you're wondering what to read next after Know Yourself, Know Your Money, here are some recommendations we suggest:
- Getting Good with Money by Jessi Fearon
- Smart Money Smart Kids by Dave Ramsey & Rachel Cruze
- The Opposite of Spoiled by Ron Lieber
- Next! by Joanne Lipman
- Dave Ramsey's Complete Guide To Money by Dave Ramsey
- Financial Freedom by Grant Sabatier
- Easy Money by Ben McKenzie with Jacob Silverman
- Rich Dad, Poor Dad by Robert T. Kiyosaki
- Atomic Habits by James Clear
- Discipline Equals Freedom by Jocko Willink
Featured Titles
- A Beginner's Guide to the Stock Market
- Advanced Techniques in Day Trading
- AMC Guide to Outdoor Leadership
- Come Into My Trading Room
- Corporate Financial Distress, Restructuring, and Bankruptcy
- Death by Meeting
- Dual Momentum Investing
- Equity Asset Valuation
- Essential Mathematics for Market Risk Management
- Extraordinary Popular Delusions and the Madness of Crowds