Ep 9 | Financial Leadership with Rachel Richards

INTRODUCTION TO EPISODE 9

Everyone leads because everyone influences those around them. Unfortunately, this means that we are often lead without being aware of where we are going. This is very true when it comes to money. Who is leading you financially? Are you in control of your finances or do your finances control you? Discover financial leadership with bestselling author Rachel Richards.

(For the full show notes and more resources, at no cost, visit connect.stepstoadvance.com)


EPISODE 9 SUMMARY AND HIGHLIGHTS: Financial Leadership with Rachel Richards

 How does Rachel see that what she is doing affects people?

 4:00

Rachel says everyone has a platform, whether you’re an author or an influencer, you are leading, you’re leading by example. With money honey, she started writing it because she used to be a financial advisor. And all her family and friends would come to her for financial advice. So Rachel started writing Honey Money in 2017. She had a crisis about halfway through and she was like “this sucks.” She wondered who was going to listen to her. Rachel wanted to quit writing. The only reason she went through with publishing it is because she told herself that if she can just help one person, that’s all she wanted to do. 

 5:08

Thankfully, Rachel did go through with it because it astonishingly did so well. She has over almost 800 reviews on Amazon now and there’s nothing as impactful as helping others make money and find security. According to Rachel, there’s nothing as rewarding as getting an email from a reader saying, “thank you so much. Your book changed my life. I’ve been able to get out of the paycheck to paycheck, pay off my credit cards.” 

 6:23

 You have to be able to articulate why would someone buy your book or listen to your speech or listen to your podcast over the thousands that are already out there.

 Guidance in managing money

 8:23

 The first step in getting your finances in order is tracking your expenses. That is the first thing you do is you track your expenses for one month. It will be very eye-opening where you’re spending your money. 

 9:50

 The next step is how to increase your savings rate. Rachel asks people if you’re trying to save up money quickly, what sorts of things do you do? If you really want to make an impact with your savings, there’s actually 2 ways to increase your savings rate.

 ●      Decrease your expenses

●      Increase your income

 How you can increase your finances:

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(For the full show notes and more resources, at no cost, visit connect.stepstoadvance.com) 

Also, check out the video at https://www.youtube.com/c/ADVANCEwithMikeAcker