How to build a better relationship with money
CPA (Chartered Professional Accountant) Lianne shares the best financial advice she’s ever gotten, along with 3 book recommendations that will help people become financially independent.
PRODUCER: How does someone start building a better relationship with money? You hug it every night. No. [LAUGHS] Hi, I'm Lianne Hannaway. I am a CPA, a chartered professional accountant. The best financial advice I have ever received to this day will be pay yourself first. And I read this in a book. Money conversations were not something that we had around my dinner table at home, so I first learned through books.
And the first thing I learned was pay yourself first. And being who I was, that was a real challenge. I think that was although the greatest advice, it was the hardest advice to apply. You can't give from an empty cup. It's the same principle. Automatically take the money out, put it somewhere else, and that is set aside for you. You will operate with what's left. And you will get very creative with what's left.
PRODUCER: What are your top three books that will help people become financially independent? Top three books. You can't do without The Wealthy Barber. Wealthy Barber is a great book. It teaches you a lot about automatic payment and paying yourself first. I love Profit First. It's a great book that talks about, again, how to automatically divvy up the kind of money that's taking in your business, putting aside profit for you first, and then really running on what's left.
The other book that I really love is Smart Women Finish Rich. It's a book that talks a lot about money strategies with a woman's point of view, about acknowledging how difficult it could be to ask for a raise, to get paid what you're worth, even cycling through things of I have a house and that's something that I really want. My partner may have his own or not have his own. How do we integrate our financial lives without losing myself?
Thank you for watching. I hope these tips have been really great for you. Check out some more videos on Compass. Is that it? PRODUCER: Yeah, you're done. You're good.