3 Most Impactful Money Lessons I Learned from Ramit Sethi
If you haven't read his book I Will Teach You To Be Rich, I don't blame you.
The title feels a little misleading and over the top (and he's acknowledged that it wasn't the best name), but there's good advice running rampant between the covers of this book.
Here are 3 of the most impactful lessons I picked up:
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Focus on the big wins
Rather than focusing on the $4 coffees and small expenses, Ramit teaches readers to focus on 5-10 big wins in their financial life.
Here are few of my favorite "big wins":
- Negotiate raises
- Automate your finances & invest
- Land your "dream" job
- Get out of debt
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Spend time outside the spreadsheets
Personal finance gets a bad rap. A lot of people believe it's only about numbers and budgets and interest rates.
While the numbers are part of it, the goal of having your personal finances under control is so you don't have to constantly think about them. Spending time outside the spreadsheets lets you experience the fruits of your labor. Spending time with family, traveling, picking up hobbies, whatever brings you joy.
Remember: money is nothing more than a tool to get you where you want to be. Money isn't the end goal, living life is.
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Spend more on what you love, and none on what you don't
This can be a great alternative to budgeting. By knowing what you value, you can spend more on those areas by limiting other areas. For example, if you love traveling but don't care about clothes - spend more on travel and $0 on new clothes. Sounds almost too simple, but I've seen it work in my own life - maybe you will too.