Hey Reader,
My bet is that you know Dave Ramsey - the popular financial expert who is known for his tough love and belief that if you follow his seven "Baby Steps" you can climb your way out of debt and build wealth. If you are unfamiliar with his Baby Steps here they are:
- Save $1000 for a starter emergency fund.
- Pay off all your debt (except your mortgage) using the debt snowball method.
- Save 3-6 months of expenses in a fully funded emergency fund.
- Invest 15% of your household income in retirement.
- Save for your children's college fund.
- Pay off your home early.
- Build wealth and give.
Simple enough, right? Don't worry, I'm joking. If I speak the truth - this system has helped thousands of individuals reverse negative financial behaviors, pay off their debt, and start to build generational wealth. So, when Dave says his system works - he isn't lying. But here is my issue with Dave Ramsey and all the financial educators out there who claim to have a single system that works for everyone: they are lying.
How are they lying? Because no single system works for everyone when it comes to finances and they know that. In fact, even if a system works, it may not be the best system for you or your family to follow. In other words, the outcomes you might achieve following Dave Ramsey's 7 Baby Steps might not be the outcomes you desire or need to achieve in order to build a financial future that represents you, your goals, and your values.
My frustration with these systems led me to develop a framework that accommodates your lived experiences, personal goals, and values when it comes to money. The framework - which I call My Money Mosaic - offers a holistic approach to financial formation allowing you to curate a 'money mosaic' that is uniquely yours.
Now, let me clear that this is not just another system that I claim will "solve your financial problems." Yes, there is a methodology about it and even a way for you to claim a certain 'style' of approach, but in the end your Money Mosaic will not be the same as my money mosaic and that is how it should be. Each of us have different relationships with money, different goals, and different realities that we are working within - so why do we think we all need to follow a standard way of finance?
This summer, I am unveiling this system for the first time publicly via The Faithonomics Podcast. Over the course of eight weeks, I will walk listeners through the framework while providing opportunities for them to engage directly into the process. If I've piqued your curiosity, I want to invite you to listen to the first episode of this series here. My hope is that we can begin countering the shame associated with "simple fix' schemes when it comes to personal finance. Money is hard, but our relationship with money doesn't have to be strained and bound up in shame.
With Wild Imagination,
-Rayce
Summer Podcast Series
This Summer we are sharing Faithonomics' Signature Money Relationship Framework publicly for the first time! Did you listen to out our first episode yet? If so, download the reflection guide mentioned during the episode below!
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