I Will Teach You to be Rich


I Will Teach You To Be Rich

by Ramit Sethi

At last, for a generation that's materially ambitious yet financially clueless comes I Will Teach You To Be Rich, Ramit Sethi's 6-week personal finance program for 20-to-35-year-olds. A completely practical approach delivered with a nonjudgmental style that makes readers want to do what Sethi says, it is based around the four pillars of personal finance- banking, saving, budgeting, and investing-and the wealth-building ideas of personal entrepreneurship.

You know when you need something, but not quite sure what that is.... That was I Will Teach You to be Rich for me. I would always look at my own finances and say "I think this can be better, but it's fine for now." IT'S NOT FINE! After reading Ramit's book, I now realize how much better I could've been doing. So of the tips he suggests implementing, I started doing as soon as I put book the book down.

I Will Teach You to be Rich is a book you can knock out in a two or three days(four if you read as slow as I do) and if you implement the ideas in it, can have a lasting impact on the rest of your life.

BK Takeaways

  • Spend on the things you love, and cut costs mercilessly on the things you don't

  • You NEED great credit

  • Beat the banks- Stop paying fees and how to find high-yield accounts

  • Don't make managing your money harder than it has to be -Automate!

  • Transfer all of your bills to your credit card

  • The 85% solution: Getting started is more important than becoming an expert

  • 5 steps to get totally out of debt

  • Save in your sleep

  • Buy a house or rent?

  • How to negotiate with your bank, credit card company, and even your boss

I'm reading over these bullet-points and unfortunately you'll have to read the book to get their full value. It's not like when I write a few motivation blurbs from a book and you can walk away feeling like you learned something. The BK Takeaways today won't mean much if you don't go through and read Ramit's full process and why they are significant.

Today is going to be a good day, I have a feeling...

BK

Vid of Ramit Sethi

#PersonalFinance #PersonalGrowth #TheBKLounge #Howtosave

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