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

Running up credit card debt. Not budgeting or saving. Spending more than we make. There are a lot of mistakes that we can make with money, but there's one in particular that influences the others. In this episode, let's chat about the biggest mistake lawyers make with money and how it plays out in our cashflow, debt, and savings and investments. Head to https://www.rhothomas.com/36 for the full episode show notes.

When lawyers learn about a new concept, our Type A-ness often leads us to try to make sure we're doing it "right." When we're learning to manage our money better, this can lead to going overboard and forgetting to live life in the process. (Ask me how I know...) In this episode, let's talk about why balancing our money goals with living in the present is so important, my own struggle with balance in the beginning of my family's financial journey, plus a few questions you can ask yourself to help you strike the right balance for you. Head to https://www.rhothomas.com/35 for the full episode show notes.

Have you ever found yourself saying, "I work hard. I deserve it."? If so, you're not alone. It's a common statement from lawyers and other professionals alike. Let's talk about two reasons we often say things like this, the effect it can have on our lives and money, and some tips for what to do instead. Head to https://www.rhothomas.com/34 for the full episode show notes.

Short-term goals are familiar to most lawyers. Our days tend to be driven by deadlines, fire drills, and other things that need to be completed in the near future. But what about big goals that will take much longer to complete? Often, these goals are more personal and may be more meaningful to us, such as our financial goals, but they sometimes can feel overwhelming or impossible. If you're finding it hard to stay motivated as you work toward a big goal, this episode is for you. I'm sharing my own struggles with staying motivated to reach one of my big goals plus three tips to keep you motivated on your journey. Head to https://www.rhothomas.com/33 for the full episode show notes.

Lawyers often get stuck in indecision, but it costs us much more than we realize. Living life by design necessarily requires intentional decision-making. In this episode, let's talk about why we struggle to make decisions, why it's problematic, and a simple trick you can use to help yourself make your next decision. Head to https://www.rhothomas.com/32 for the full episode show notes.

It’s so common for people to spend more as they make more. This is called lifestyle inflation, and it’s the main reason so many lawyers live paycheck to paycheck. Left unchecked, lifestyle inflation will block any chance you have of becoming financial independent and getting the control of your time you’re seeking. In this episode, we’ll talk more about what lifestyle inflation is, why it’s such a problem, and how to avoid it. Head to https://www.rhothomas.com/31 for the full episode show notes.

We often put a lot of weight on financial numbers that don't give any true indication of how we're doing financially. We learn pretty early on to value these numbers because they're "important." But we often ignore the one that matters most. In this episode, we're going to talk about the two most common irrelevant numbers we tend to focus on and the one that actually matters. Head to https://www.rhothomas.com/30 for the full episode show notes.

Do you struggle to reach the goals you set? Maybe you start off great, but then fall off a few weeks or months in. If that’s you, you want to hear this. In this episode, we’ll talk about a really simple concept to help you turn things around and actually reach your goals. Head to https://www.rhothomas.com/29 for the full episode show notes.

If you've been following me for any length of time, you're probably aiming to be more intentional about how you live your life. For most of us, that means creating different results than the ones we've gotten to this point. But how do you do that? In today's episode, we dive into the secret to creating different results in our lives and how this one shift changes everything. Head to rhothomas.com/28 for the full episode show notes.

Merry Christmas! Hap-py hol-i-days! (I hope you sang that like *NSYNC btw...) 2020 has been a wild ride. What lessons have you learned from this year that you will take with you going forward? In today's episode, let's look back on this year and talk about making intentional plans for your life for the upcoming year. Head to rhothomas.com/27 for the full episode show notes.