Personal Finance for Lawyers | How to Budget, Get Out of Debt, Save Money, Manage Money, Build Wealth, Financial Freedom

Sometimes our loved ones think they know best about what we should be doing with our finances—and they have no problem making it known. Although they mean well, their thoughts, tips, and advice can lead to feelings of stress. In this episode, let's talk about three things to do if you have loved ones who are stressing you about what you should be doing with your money. Head to https://www.rhothomas.com/173 for the full episode show notes. Join Money Mastery for Lawyers at https://www.rhothomas.com/join.

Sometimes we get so focused on the numbers and the mechanics of personal finance that we forget what we're doing it for. It's important to take a step back and think about the point of our money journey. In this episode, I share the point of my money journey and invite you to explore yours. Get the full episode show notes at https://www.rhothomas.com/172. Join the Money Mastery for Lawyers membership at https://www.rhothomas.com/join.

As lawyers, it's common for us to focus on what we haven't achieved (the gap) rather than looking at all the progress we've made (the gain). This concept was discussed in the popular book, The Gap and the Gain. In this episode, let's talk about how the gap and the gain show up in our personal finances and the importance of focusing on the gain more often. Get the full episode show notes at https://www.rhothomas.com/171. Join the Money Mastery for Lawyers membership at https://www.rhothomas.com/join.

Often the way we manage our money results in us taking care of companies before we take care of ourselves and our goals. This is very common and can happen in extreme and more subtle ways. In this episode, let's talk about how we take care of companies before ourselves and what to do about it. Head to https://www.rhothomas.com/170 for the episode show notes. Join the Money Mastery for Lawyers membership: https://www.rhothomas.com/join.

My client Rachael was already doing some good things here and there with her finances. She had a financial planner helping her with her investments, but she didn't have plan, and she didn't know how to manage her money from day to day. That's when she came to me. In this episode, we talk about our work together, some of the things she's been able to accomplish with her money, and her perspectives on money now. Head to https://www.rhothomas.com/169 for the full episode show notes. Join the Money Mastery for Lawyers membership at https://www.rhothomas.com/join.

Overspending is a common concern for the lawyers I speak with. Getting on top of overspending is key to managing your money better and ultimately achieving your financial goals. In this episode, let's talk about 4 tips to help you stop overspending. Head to https://www.rhothomas.com/168 for the full episode show notes. Join the waitlist for my money membership at https://www.rhothomas.com/waitlist.

Money can be an emotional topic for many people. This can sometimes make it difficult to access the logical side of your brain to make strategic decisions. The good thing is it’s easy to objectively measure specific monetary goals, which helps to take some of the emotion out of it. In this episode, we talk about separating the math of your goals from your thoughts and feelings about them and the benefits of this approach. Head to https://www.rhothomas.com/167 for the full episode show notes. Join the waitlist for my money membership for lawyers at rhothomas.com/waitlist.

Many lawyers who make six-figure incomes and higher feel broke. This often has more to do with their money mindset and money habits than anything else. In this episode, let's talk about key takeaways from a recent Bloomberg article about six-figure earners in America titled "Are You Rich?" and some action steps that lawyers who feel broke can take. Get the full episode show notes at https://www.rhothomas.com/166. Join the waitlist for my money membership at https://www.rhothomas.com/waitlist.

Managing your money isn't all about cutting back and being responsible. It's important to make room for spending on fun, as well. In this episode, let's talk about including fun in your finances and how to integrate fun money into your money plan without taking yourself off-track from your goals. Head to https://www.rhothomas.com/165 for the full episode show notes. Join the waitlist for my money membership at https://www.rhothomas.com/waitlist.

One of the biggest money mistakes lawyers make is taking on purchases they can't afford. Don't fall into the trap of buying status symbols just because you're a lawyer when your finances aren't ready to handle them. That will only hold you back from achieving your financial goals. In this episode, let's talk about two examples of people buying things they can't afford and how to know when you can afford the things you want to buy. Head to https://www.rhothomas.com/164 for the full episode show notes. Join the waitlist for my money membership group for lawyers at https://www.rhothomas.com/waitlist.