5 ways to manage money: Which one are you?

I once spoke with someone on my podcast worth $5.7 million who hoarded boxes of To view this email as a web page, [click here]() {NAME}, I once spoke with someone on my podcast worth $5.7 million who hoarded boxes of baby diapers. Nicole grew up in poverty. She was afraid that one day she wouldn’t have enough for her kids. Hoarding diapers isn’t a rational thing to do when you have millions of dollars. But it made Nicole feel secure. Here’s the truth: Our feelings about money are highly uncorrelated with how much we have in the bank. In our culture, stressing about money is normal. Even for multimillionaires. - It’s normal to complain to our neighbors about gas being 30 cents more expensive. - It’s normal to groan over student loans, wishing it was easier to take vacations. - It’s even normal for our behaviors to become completely irrational, like hoarding diapers, without our noticing. And it’s harder to know how to begin fixing it. Why is financial stress so ubiquitous… no matter how much money you have? It wasn’t uncommon for guests to get overwhelmed while talking about their finances with me on "[How to Get Rich]()." Financial stress doesn’t discriminate based on gender, income level, or anything else. I’ve found that money stress can often be traced back to how you manage your money, and most people fall into one of five money management styles. Do any of these sound like you? [The 5 money management styles] The 5 money management styles Most of these money management styles make it harder to feel good about money. Here’s why: - Ostriches: These are people who keep their heads in the sand when it comes to personal finance. They have no idea about their money, debt, bills, or savings. They avoid it and pray for the best. - PF Nerds: These nerds build super-complicated spreadsheets to track everything, down to the penny. If this is your hobby, fine. Just know that all the extra attention isn't likely to get you better returns or improve your finances. (Also, remember that a Rich Life is lived outside the spreadsheet.) - Tool Hoppers: Tool Hoppers jump from one money app to another. I'm talking about software like Mint or You Need a Budget. They get really excited about one app and spend a bunch of time setting it up … then drift away when it doesn't actually help. They rarely make progress because they just keep looking for one quick-fix tool after another. - Free Spirits: Free Spirits don’t track or save. They just look at their credit card balance for a rough gauge and keep going, usually leading to overspending, debt, and no savings for any goals. It's chill on a day-by-day basis, but you never achieve a real Rich Life. Do you notice that these first four money management styles cause anxiety no matter how much money you have? For example, if you had $5.7 million like Nicole does, but spent every second tracking the broccoli you got at Whole Foods… you’d end up obsessing over little details like whether or not to get a $5 latte. You’d still feel bad about money! But there’s one more money management style… - Automators: Automators put their money management on autopilot. They automate their finances so that all of their bills, savings, and retirement investing happen automatically — and they can spend the rest of their money guilt-free. This is my strong favorite. You can set up an automated system for your money (it only takes a few hours), and then only spend an hour a month checking on your money. I only take about 30 minutes a month these days. And best of all, you can then get on with your Rich Life. Changing HOW you manage your money and becoming an Automator is a HUGE factor in feeling better about money. But it’s just one part. If you want to finally get your money in order — AND stop stressing over it — you have to change your entire approach. I can show you how. * * * How to take control of your money If you want to take control of your money on your own, you can. But I recommend you use my [Money Coaching program](). Three reasons: - You get help from me. Apply to be one of the monthly Money Makeover students, or submit your questions for the Q&A portion of each call. - You get help from the community. Join other students who are all committed to ENJOYING and GROWING their Rich Lives. Students are having discussions across more than a dozen channels, including topics like guilt-free spending, earning more, credit cards, and more. - You get The Rich Life System, a step-by-step guide to create a plan for your money, automate your finances, and make your money (and your money psychology) work for you, not against you. [Chart]() When you [join Money Coaching](), you get my proven system to take control of your money and reach your Rich Life. No more haphazard attempts to get your money in order. No more tracking every penny. No advanced math. No guilt or shame. Use your money to build your Rich Life, guilt-free, with a completely automated system and trusted guidance directly from me, every step of the way. I hope to see you inside. [Signature] P.S. Here’s a quick rundown of how to automate and maintain your money: - Sign up for [Money Coaching](). - Introduce yourself in our exclusive community, answer someone else’s question, and ask your own. - Watch our last coaching videos from “Why does money make me feel so guilty?” - Start going through the Rich Life System playbooks and set up your automated money system (you can do this in one weekend). - Join the next live call (“How to recession-proof your finances”) on May 18. Featured Products [Learn how to be your own boss, do what you love, and earn more.]() [What if you woke up EXCITED to go to work? I show you how to achieve it, step by step.]() [Ready-to-use mental frameworks for increased happiness, confidence, & success.]() [No guilt, no excuses, no BS. Just a 6-week program that works. Over 1,000,000 copies sold.]() The I Will Teach You To Be Rich Podcast Raw, unfiltered conversations with real couples: - One partner is $300,000 in debt, but shrugs it off. The other cries at night, anxious about the future. - A couple that’s so worried about money, they feel like they’ll never have enough. They go to a restaurant and order chicken instead of steak to save $10. Their household income: $600,000. - Two parents who feel overwhelmed by work, kids, and debt. When I ask them how they’d describe their lives, they instantly say the same word: “Stuck. ” Listen in to hear real money conversations from behind closed doors today. 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