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

My client Jeanne was skeptical about whether she and her husband would ever be able to get out of debt. During our time together, they ended up paying off much more than she ever imagined. In this episode, Jeanne and I chat about our work together, including how much debt she and her husband paid off, the trips they were able to take in the process, and the power of focus in your personal finances. Head to rhothomas.com/280 for the full episode show notes.

Don't give up on your goals in the 4th quarter. You still have plenty of time to finish the year strong. In this episode, let's talk about some questions to assess where you are with your goals and what needs to continue or change to ensure you finish the year where you want to be. Head to rhothomas.com/279 for the full episode show notes.

My clients Ashley and Tim make good money, but they could never seem to get ahead with their finances. They had no plan for their money and felt stressed and overwhelmed. All that changed when they reached out to me. In this episode, Ashley, Tim, and I chat about our work together, including how they've been able to pay off almost $8,000 of debt and save $10,000 while still going on vacation and seeing Beyoncé in concert. Head to rhothomas.com/278 for the full episode show notes.

I've had a few conversations recently with people who want to keep doing the same things and magically have more savings and no debt. The thing is, if you want to change your finances, something has to change. You can't change staying the same. In this rewind episode, let's talk about the requirement for change, including examples of two attorneys who are not making the changes they want to make in their finances and an example of a third attorney who did. Head to rhothomas.com/277 for the full episode show notes.

We’re trying a different investing strategy than the one we’ve used for the previous decade. It’s been an interesting experience so far, and I’m learning a lot. In this episode, let's talk about my husband's and my first rental property and how we're funding the purchase. Head to rhothomas.com/276 for the full episode show notes.

My husband and I stopped contributing to our retirement accounts. Personal Finance 101 says you should max out your retirement accounts or at least contribute enough to get the employer match. But we decided to cut our contributions altogether. Are we making a big mistake? In this episode, let’s talk about the reasons behind our decision and what we’re doing instead. Head to rhothomas.com/275 for the full episode show notes.

Sometimes following the path you're "supposed to" take leads to a life you don't actually want to live. That's exactly what happened to Lauren Klein, Biglaw attorney turned boutique firm owner and money and mindset coach. Through intentional planning and wise money decisions, Lauren has built a business and life she loves. In this episode, Lauren and I talk about her journey, the tools that have helped her create the life she now enjoys, and the exact steps you can take to create the same kind of life for yourself. Head to rhothomas.com/274 for the full episode show notes.

Do lawyers have an ethical duty to manage their money well? I’ve been thinking about this lately—specifically whether our duty to act with integrity is invoked in the way we handle our day-to-day personal finances. In this episode, let’s talk about this question and what to do if you think you’re acting out of integrity with your money. Head to rhothomas.com/273 for the full episode show notes.

The early stages of the money journey often feel the most difficult because you're learning a completely new way of doing things. Many lawyers give up at that point, and it's a mistake. In this episode, let's talk about the natural progression of learning and why it's important to push through the learning curve to achieve your goals. Head to rhothomas.com/272 for the full episode show notes.

If you want real success with your finances, you have to be consistent. Too often, lawyers start to see progress and then stop doing the things that created that progress. This leads to falling back into old patterns and sometimes ending up worse off than when they started. In this episode, let's talk about the importance of consistency and staying the course. Head to rhothomas.com/271 for the full episode show notes.