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]
- 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:
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