Get Rich, Live Your Best Life
I Will Teach You To Be Rich
by Ramit Sethi
Wealth & Economics
TL;DR
This ain't your grandma's boring finance book. It's about automating your money so you don't have to think about it, crushing debt like a boss, investing without being a Wall Street wizard, and negotiating like a pro to get what you want. Basically, it's about setting up your money life on autopilot so you can actually live and not stress about every damn dollar.
Action Items
Set up one automatic transfer from your checking account to a savings account for next payday, even if it's just $5.
List 3 things you genuinely love spending money on, and 3 things you spend money on but don't really care about. Find one thing from the "don't care" list to cut or reduce.
Check your credit card statements and identify your highest interest rate debt. Make a plan to pay an extra $10 on it this month.
Research what a Roth IRA is and how it works. If you're eligible, consider opening one with a low-cost brokerage.
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Key Chapter
Chapter - The Conscious Spending Plan: Your Money, Your Rules
This chapter is like a reality check for your spending habits. Instead of telling you to cut out your daily Starbucks, it's all about figuring out what you actually value and then splurging guilt-free on those things. The rest? Automate savings and investments so you don't even see the money. It's not about deprivation; it's about intentionality. You get to decide where your cash goes, not just let it evaporate into thin air on random impulse buys. Think of it as giving your money a job description: some for fun, some for future you, and some for "GTFO my bank account." It's about living your best life now while building wealth for later, without feeling like a broke college student forever.
Key Methods and Approaches
Your Money's Robot Butler
(AKA: Automating Your Finances)
Description:
Set up your money to move itself so you don't have to think about it.
Explanation:
Imagine your money is a lazy roommate. This method is like hiring a robot butler to make sure rent gets paid, groceries are bought, and savings are stashed away, all without you lifting a finger. It's about making good financial decisions the default, so you can't screw it up even if you try. Your future self will thank you for not being a financial goblin.
Examples:
Setting up automatic transfers from checking to savings every payday.
Automating bill payments so you never miss a due date.
Scheduling automatic investments into your Roth IRA or 401k.
Today's Action:
Set up one automatic transfer from your checking account to a savings account for next payday, even if it's just $5.
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