If you’ve ever felt stressed, confused, ashamed, or behind when it comes to money, this episode is for you. Whether you’re living paycheck‑to‑paycheck, trying to pay off debt, building credit, wondering how you’ll ever afford a home, or doing “okay” but still feeling anxious about the future, this episode will show you exactly what to do next. This episode delivers the most important money advice you need to hear right now. It will teach you the 4 essential rules of money - the skills no one ever taught you, but everyone needs to build financial freedom. And it’s your guide to taking control of your money: how to make it, how to save, and how to invest no matter where you’re starting from. And it’s not about how much you earn. It’s about learning how money actually works. Today, Mel shares the best money advice from four of the most trusted and influential experts in personal finance. Tiffany Aliche, known as The Budgetnista, is a New York Times bestselling author who has helped millions of people save money, manage their finances, and pay off massive amounts of debt. David Bach is a 10‑time New York Times bestselling author and the creator of The Automatic Millionaire, who will show you how small, automatic daily habits can turn into millions over time. Ramit Sethi is a New York Times bestselling author, the creator of I Will Teach You to Be Rich, and the host of Netflix’s How to Get Rich, is going to simplify money into four clear buckets. Morgan Housel is the bestselling author of The Psychology of Money and one of the most respected financial thinkers in the world, and today he will help you understand the emotional and psychological forces that drive financial decisions. In this episode, you’ll learn: - The 4 money rules that determine whether you build wealth or stay stuck - no matter what you earn - The #1 mistake that’s quietly keeping people broke - How to stop guessing where your money is going and finally take control - The simple habits that make saving, spending, and investing feel easier - Why you can start feeling better about your life before you’re debt‑free After listening, you’ll walk away with a clear plan, a healthier relationship with money, and the confidence to make smarter financial decisions starting today. If you loved this episode, you’ll definitely want to listen to the full conversations with each of the financial experts you heard from today: Tiffany Aliche: https://youtu.be/x6S63406raY?si=oHCTuRiCEcmSRBnw Rami Sethi: https://youtu.be/yHuXPsw6h7Y?si=y3G-_bxx-prjOhtL David Bach: https://youtu.be/uysZfSEmeRE?si=-QTisLImWdSRyGZ7 Morgan Housel: https://youtu.be/Ai4iNmW2A1c?si=W5ET2Acwnbbu79Sz For more resources related to today’s episode, click here for the podcast episode page: https://www.melrobbins.com/episode/episode-386/ Follow The Mel Robbins Podcast on Instagram: https://www.instagram.com/themelrobbinspodcast I’m just your friend. I am not a licensed therapist, and this podcast is NOT intended as a substitute for the advice of a physician, professional coach, psychotherapist, or other qualified professional. Got it? Good. I’ll see you in the next episode. In this episode: 00:00 Intro 01:46 The Only 4 Money Rules You Need 06:03 How to Start Budgeting When You Don’t Know Where to Begin 08:43 4 Steps to Create a Budget 14:34 The Biggest Budgeting Mistake You’re Making 19:29 How to Take Control of Your Finances 21:11 The Personal Spending Plan That Actually Works 26:06 Why Am I So Bad With Money? 28:56 Can I Live a Happy Life Without Money? 33:03 How to Start Saving and Building Money Starting with Nothing 35:35 How to Invest When You're Living Paycheck to Paycheck 43:02 What is an Automatic Economy? 48:45 Stop Wasting Money: The Subscriptions You Need to Cancel Today 52:48 How To Build a Healthy Relationship With Money 59:03 Summary: The 4 Money Rules You Need — Follow Mel: Instagram: https://www.instagram.com/melrobbins/ TikTok: http://tiktok.com/@melrobbins Facebook: https://www.facebook.com/melrobbins LinkedIn: https://www.linkedin.com/in/melrobbins Website: http://melrobbins.com — Sign up for Mel’s newsletter: https://melrob.co/sign-up-newsletter A note from Mel to you, twice a week, sharing simple, practical ways to build the life you want. — Subscribe to Mel’s channel here: https://www.youtube.com/melrobbins?sub_confirmation=1 — Listen to The Mel Robbins Podcast 🎧 New episodes drop every Monday & Thursday! https://melrob.co/spotify https://melrob.co/applepodcasts https://melrob.co/amazonmusic — Looking for Mel’s books on Amazon? Find them here: The Let Them Theory: https://amzn.to/3IQ21Oe The Let Them Theory Audiobook: https://amzn.to/413SObp The High 5 Habit: https://amzn.to/3fMvfPQ The 5 Second Rule: https://amzn.to/4l54fah
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Sorry to nitpic but did anyone on the team think to *not* run an ad where Mel promotes *online shopping* (for insanely priced furniture to boot) right after she tells us online shopping *bad* for us?
I love all this advice, but there were times when I was living paycheck to paycheck and deciding who to pay what month, that even $10/day wasn't an option if I wanted to put food on the table. I think that's the scariest place to be. As a single income household, I was at the bare minimum for expenses, but just didn't earn enough post divorce, basically starting over. I had to just get through that point so that I could start earning more. So if you are reading this. Know that you CAN change things, even as hard as it seems. You WILL get to a place where you can start saving and changing the trajectory of your financial life!
When I was earlier financial advisor and people will tell me that they don’t have money to invest. I would always say if you buy Starbucks coffee just add up all of this spending just on this one thing over the month and most likely it’s gonna be $ 50-100 that you can i start investing it’s not much but it’s something..
Wealth is built by behavior, not income.
Peace with money starts when you finally define what enough means.
Before I understood how power and wealth actually work, I was stuck chasing motivation, quick wins, and external validation. Reading What Elites Hide From You by Jeff Rogan shifted my focus toward structure, discipline, and long-term positioning. I realized it’s not about hustling harder or waiting for a breakthrough moment, it’s about building systems that work quietly in the background. Once I adopted that mindset, I felt calmer, more deliberate, and far less controlled by distractions, fear, or noise online.
Got to love the host plugging Ashley Furniture 18:52; pushing that “over consumption” right in middle of……..money advice 😂 “7 out of 10 Americans living paycheck to paycheck”— gee, I wonder why! What the 3rd guy said is contradictory to what the 2nd guy said 🤔
I felt this one. Success is simple you either outwork your excuses or you lose. What Elites Hide From You by Jeff Rogan pushed me to show up even on the days where motivation is zero
The idea of defining your own “enough” is powerful. Social media really makes it feel like nothing is ever enough.
No extra spending, keep a budget, but quick commercial break and let me sell something unnecessary
My parents came to America bought a home, my dad had extra insurance on the home in the case he pass sway before he pays off the home, he never had a savings and someone at his company embezzled the pension, my mom worked as an aid and didn't have a pension or savings. My dad passed away at 59 my mom had a debilitating stroke at 58 our childhood home rental income helped take care of our mom and she lived with me. No savings for this "retirement" enjoy life tomorrow is not guaranteed. Be mindful but don't make yourself crazy, I think life has a way of working out.
How about the10% for God who gives you strength to work.
Oh, come on. The reason they’re called fixed costs is that they’re not easily reduced and then many of us are finding that corporations are raising these rates out of greed rather than necessity so when you tell us that these cost should be within 50 to 60% of our take-home you’re living in a fantasy where you believe we have control over these costs or that others don’t have greater control than we have.
The budget system that works for me is one that I create once a year. It works because I don't carry debt and my gross annual income is less than 50k. When fixed expenses are 90% of my take home pay the mindset has to be about how to get the skills to earn more. There is no room in my budget for any wreckless spending. How I feel about money doesn't even enter my head because it's irrelevant. I never feel shame about what I spend because its all necessary for basic survival
Omg. An ad to shop right after learning to stop shopping on the internet. 😮🤯
Must say this video almost made me feel worse, as someone who follows these rules but simply doesn’t make enough. The “50% of your take home is necessity” would love if I could find JUST housing for 50% of my take home
From an African who lives in Africa I find this financial advice on this video is very doable. I have taken notes and will definitely apply them .Thanks for this .
Thank you🧘 A late started here at 49🤷🏾♀️🙏🏽 The Psychology of Money🎯
These four are the Avengers of financial advice. Great video! 👍🏽💸
That last one is brilliant and probably where I’m stuck. It’s hard though because I went through a divorce and most of my friends are still married and have a bigger lifestyle. I have to keep reminding myself ‘don’t try to keep up’.