How to Get Rich With Personal Finance Expert Ramit Sethi
Ramit Sethi, author of I’ll Teach You To Be Rich and a financially smart professional, is joining us at The Upgrade this week to talk about how to rethink our approach to spending, how to best invest our savings, and how normal people can find a way to have a six-week honeymoon.
Ramit has been writing about personal finance for over 15 years. His business, IWillTeachYouToBeRich.com , trains over 1 million users every month on how to automate their finances, increase their earning potential, and get smarter with their money. Hear him explain his unique philosophy of what he calls “money dials” in this week’s issue.
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Highlights from this week’s series
From an interview with Ramit Sethi
On why it is important to abandon a strict puritanical attitude towards money:
What’s so funny about the way we think about money is that we have been trained to minimize ourselves and minimize our dreams. “Oh, I don’t want to be rich. I just want to pay off my debt. ” No, it’s okay to be rich. It’s okay to be financially … It’s okay if I say, “I can take my big family to Rome. I can put them all on a huge AirBnB and we can create memories together. ” This is fine. I hate to see people play down their dreams. I want to hear how you maximize that because once you get the hang of it and say, “I want this, I deserve it, I’m willing to work for this,” then you can start the hard work of getting there.
About his philosophy of personal finance:
We have these two forces, one of which says, “Put money under the bed for the next 80 years,” and the other says, “I want to be in Tahiti. I would like to receive a cashmere sweater. I want to buy a drink or latte for my friends. ” And guess which one will win? This is the one that says, “Let’s overspend.” This is one of the reasons Americans are in debt. They are chronically unaware of personal finances and get worse and worse over time. Better, instead of denying what we want, to admit it … So my philosophy is to waste wastefully on what you love, but ruthlessly cut back on what you don’t.
For more of Ramit’s tips on spending and saving, we recommend checking out the podcast!
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