{"id":159771,"date":"2025-09-21T23:08:12","date_gmt":"2025-09-21T23:08:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/159771\/"},"modified":"2025-09-21T23:08:12","modified_gmt":"2025-09-21T23:08:12","slug":"rachel-cruze-boring-is-the-key-to-wealth","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/159771\/","title":{"rendered":"Rachel Cruze: Boring Is the Key To Wealth"},"content":{"rendered":"

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\n \u00a9Rachel Cruze <\/p>\n

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GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines<\/a> and our products and services review methodology<\/a>.<\/p>\n

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Finance expert Rachel Cruze, part of the Dave Ramsey expert network (and his daughter), recently discussed the fact that wealth building<\/a> is not as exciting as it may sound, but actually rather boring \u201cif you\u2019re doing it the right way.\u201d<\/p>\n

Sharing a clip she found online in which finance expert JC Rodriguez interviewed a retired couple who are \u201cnet worth millionaires,\u201d she explained how this couple followed a plan similar to the Ramsey team\u2019s own \u201cseven baby steps.\u201d<\/a><\/p>\n

Investing Is Not Flashy or Quick<\/p>\n

What makes investing work is one\u2019s \u201csteadiness,\u201d Cruze said, nothing flashy. It\u2019s a way of proceeding that is \u201cnot riding on emotion \u2026 on the newest, greatest, biggest thing,\u201d but staying consistent with financial principles over the long term. \u00a0She stressed that wealth building doesn\u2019t and shouldn\u2019t happen fast<\/a>, either.<\/p>\n<\/p>\n

Here are the Ramsey team\u2019s baby steps to help build wealth in a boring way.<\/p>\n

Start an Emergency Fund<\/p>\n

The first thing you should do to build wealth is save $1,000 in an emergency fund, Cruze said. \u201cThis is really your starter emergency fund.\u201d Think of it as that small little safety net \u201cbetween you and life.\u201d If you can get to $1,000 you can likely take the next step with more ease.<\/p>\n<\/p>\n

Pay Off All Debt<\/p>\n

The next step may seem counter-intuitive at first to building wealth, but it\u2019s very important \u2014 your biggest goal is get all of your debt paid off. Even if that means you must cash out other non-retirement investment funds, Cruze insisted. Then, you pay off the smallest debt to the largest debt, because there\u2019s power in knowing that any future income you make isn\u2019t going to anyone\u2019s but your own pocket. <\/p>\n

\u201cYou get to keep your income when you\u2019re debt-free and your income is what\u2019s going to help you build well.\u201d<\/p>\n

Beef Up Your Emergency Fund<\/p>\n

Once you\u2019ve got that clean slate, now you can really build a true safety net<\/a> of between three- and six-months\u2019 worth of expenses. Ideally, you\u2019ll put these in a high-yield savings account but keep this money liquid.<\/p>\n

Fund Your Retirement<\/p>\n

Once you have that strong emergency buffer, you want to begin sending 15% of your income to retirement savings. She advised working with a financial advisor of merit to help you know exactly what you\u2019re investing in so you don\u2019t get into a \u201cbad deal.\u201d She also recommended using the Ramsey Investment Calculator to help you get a rough idea of how much your savings can grow by retirement age and how much you may need.<\/p>\n<\/p>\n

Save for College<\/p>\n

After you\u2019re on top of your own retirement investing you can begin to save for any children\u2019s college funds<\/a>. Cruze isn\u2019t too concerned about the savings vehicle for this \u2014 a 529 plan, an educational savings account (ESA), it\u2019s all fine. The goal is to help your kids start their lives financially stable. This allows them to get \u201coff to the races faster and earlier so that they can do their own investing.\u201d<\/p>\n

Pay Extra on Your Mortgage<\/p>\n

By the time you\u2019ve made it to step six, you\u2019re in solid financial shape, and now may be looking for ways to get even more financially ahead. If you\u2019ve made it successfully here, Cruze insisted you put extra money toward paying off your mortgage early so you can stop paying that mortgage interest.<\/p>\n

Live and Give With Generosity<\/p>\n

Those who make it to step seven are financially sound and should be in a position to keep living their life as laid out but also give charitably as well. You should have very few payments beyond living expenses.<\/p>\n

For the person just starting out, or living paycheck to paycheck, these steps may sound challenging but just start at step one and see how quickly you can build wealth, too.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"\u00a9Rachel Cruze Commitment to Our Readers GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information.…\n","protected":false},"author":2,"featured_media":159772,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[64,63,99,186,9549,187,184,185,193],"class_list":{"0":"post-159771","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-finance","12":"tag-gobankingrates","13":"tag-money","14":"tag-personal-finance","15":"tag-personalfinance","16":"tag-wealth"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/159771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=159771"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/159771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/159772"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=159771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=159771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=159771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}