Jade Warshaw serves as a debt elimination expert, financial coach, and co-host of The Ramsey Show. But she wasn’t always so savvy about financial matters.
Perhaps her lowest moment came while standing in line at a Publix grocery store with $45 worth of food, fearful that her card would be declined. Overspending on credit cards was a common practice for Jade and her husband back then, eventually racking up $460,000 in debt.
Inspired to make a change, they worked hard for seven and a half years to pay it off. Jade now helps people correct false beliefs about money, so they control money instead of money controlling them.
Jade is joining me on Focus on the Family with Jim Daly to encourage couples with practical advice for navigating finances in their marriage.
She says people’s beliefs about money are typically based on experiences from culture, media, or the person’s own life. These ideas, though false, not only seem true but often seem like the only logical explanation.
Jade shares five lies about money and their corresponding truth:
- Lie: Budgets are a form of punishment that restrict you from spending.
Truth: A budget doesn’t confine your money. A budget defines your money.
- Lie: Budgets are for people who don’t have enough money.
Truth: Budgets are for people who refuse to have no money.
- Lie: Budgets aren’t for everybody.
Truth: Budgets are like toothbrushes – everyone needs to have one and use it.
- Lie: A budget is a list of debts. Any money beyond that is “up for grabs.”
Truth: A budget is the map that leads to all your money goals.
- Lie: I should do a separate budget from my spouse.
Truth: Budgeting requires accountability and trust.
Hear my full conversation with Jade Warshaw on your local radio station, online, on Spotify, Apple Podcasts, on our free phone app.
Jade’s book Money’s Not a Math Problem: The Real Reason You’re Broke and What to Do About It is available for a gift of any amount. For more information, click here or call 1-800-A-FAMILY (232-6459).
