Ramit Sethi

My brain is stupid.

It only has a certain amount of space for cognition, trauma, friendship, work, parenting, etc.

I failed at money. For decades…

Before learning the basics.

Ramit Sethi doesn’t want the money part of your brain to be stupid. So he wrote a book, “I Will Teach You To Be Rich”. And it became a New York Times bestseller.

Now he wrote the expanded edition. So I invited him back on the podcast for a two-parter. 

Here’s a list of what you’ll learn in Part 1:

• Ramit’s theory on why everyone is failing at saving and investing money [4:32] 
• The story behind how Ramit introduced me to the most valuable revenue-producing asset in my life [5:52]
• What type of spender are you? Are you a cheap spender? Or conscious spender [8:35]
• Today’s biggest money misconceptions  [9:40]
• The exact words you should use in a negotiation [10:49]
• Big financial decisions… Why you should stop thinking about $3 questions. And start focussing on $30,000 questions. Or $3 million questions. [11:25]
• What you need to know about buying a house [12:54]

• Why buying a house is a trap [14:29]
• How to make thoughtful financial decisions [16:32]
• Ramit reveals why our food and money habits are so similar [20:44]
• The #1 trick I use to accelerate what’s working. And decelerate what’s not working in any area of life [23:38]

• All the ways this country makes it really hard for you to succeed… and what you should do about it [25:28]
• Two phrases successful people always use [28:15]
• Ramit breaks down his spending rules & explains how they’ve changed over time [28:58]
• Which banks you should 100% avoid [34:55]
• Why banks with horrible customer service are the most profitable [35:54]

hint:

• How to simplify your most basic money decisions [37:23]
• Do this to determine if you’re focussing on the wrong financial advice (which most people are)… [38:45]
• The most advanced thing you can do about your personal finances [40:08]
• How I went broke 5x in a row [42:55]
• Ramit’s 10 money rules [44:58]
• “So many people in this country teach you how to save. But almost nobody teaches you how to spend.” – Ramit [46:49]
• All my investing mistakes mapped out [48:35]

• Ramit’s money making mistakes [50:20]
• “If you think about what you want your life to be like in the next 12 months… you can become that person” – Ramit [54:54]
• Find out what it means to have a rich life (ask yourself these questions…) [57:21]
• What I spend money on [58:36]
• “I want people to spend more on what they love. And cut out what they don’t like to spend on.” – Ramit [1:01:43]
• How to dial down spending on things you don’t care about. And dial up spending on things that actually make your life better [1:04:03]
• The psychology of spending for your kid’s joy and wellbeing vs. spending for yourself [1:06:03]
• Stop talking yourself out of the things you want in life [1:06:47]
• How to figure out what you can afford [1:09:54]
• The thing I secretly dreamed about buying as a kid… (spoiler: it’s a VCR) [1:11:09]

• End of Part 1 (teaser to Part 2 with Ramit) [1:12:35]

Links & Resource

• Ramit’s new expanded edition of his New York Times bestselling book, ” I Will Teach You to Be Rich“
• Follow Ramit on Facebook, Twitter & Instagram
• Follow “I Will Teach You To Be Rich” on Facebook
• Get Ramit’s negotiation guide – How to Negotiate a 5-Figure Raise (& Word-For-Word Script) 
• Read more advice from Ramit at iwillteachyouhowtoberich.com
• Check out to my past interviews with Ramit Sethi:
  • Ep. 36 – “What Does It Really Mean to Live a Rich Life?“
  • Ep. 177 – “This is What Happens When You Make $50,000 in One Month“

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