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Rachel Cruze has been speaking to people about the dangers of debt and the importance of budgeting since the age of fifteen. Growing up as Dave Ramsey’s daughter, she uses that experience and knowledge to educate others. Her book Love Your Life, Not Theirs: 7 Money Habits for Living the Life You Want is a worthy read. It starts out strong with its main point and first habit to establish – quit the comparisons – and specifically addresses the envy of others that social media creates.
The other six money habits are laid out clearly: steer clear of debt, make a plan for your money, talk about money (even when it’s hard), save like you mean it, think before you spend, and give a little… until you can give a lot. Cruze’s views on budgets are adaptable for people of all incomes. She breaks down the basics of budgeting simply, making it easy to follow. If you’re new to money management, or if your money management isn’t working, it is a great introduction to help you figure out where you need to adjust.
The first section has a somewhat philosophical tone, covering an emotional habit rather than a financial one. The pace quickens in the following sections, and Cruze does a great job covering sensitive subjects like debt and loans in a direct but inoffensive way. This line, in particular, resonated with me: “There is no such thing as good debt and bad debt. It’s just debt. At the end of the day, you still owe someone something.”
There were a few critical omissions in the budget section that are worth noting. Medical expenses had only a vague reference under “miscellaneous,” and insurance (not including car) was considered a luxury along with cable and eating out. Despite these oversights, I recommend this book to everyone.
I felt I was in a good place with my money management, yet I still found the book highly motivating and helpful. It’s a quick read, and Cruze makes recommendations to websites and other books for those who want to delve deeper into subjects she briefly covers.