I Will Teach You to Be Rich

Publisher's Summary

At last, for a generation that's materially ambitious yet financially clueless comes I Will Teach You To Be Rich, Ramit Sethi's six-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.

©2009 Ramit Sethi (P)2009 Recorded Books, LLC

Behavioral approach to money sets this book apart

I LOVE Ramit Sethi. His style is irreverent and occasionally obnoxious but hysterically funny and deeply influential. Ramit's emphasis on behavior and his back ground in psychology is what sets this book apart from the average personal finance book. I was convinced that this was one of the best books out there by the 4th chapter but the last chapter "A Rich Life" blew my mind. More than just money management strategies this chapter dealt with the real value of money, what it takes for you to feel rich, how to handle money issues in relationship, and negotiation strategies for anything from buying a car to getting a raise. I would recommend buying the text version as well if you like what you hear but you can get the bulk of the message with the audio version.

34 of 34 people found this review helpful

Good book to start in your 20s but light

the content is good, in fact, I'll give it as a present to friends that just graduated from college. Now, if you are in your 30s, 40s, etc... and you have already read other marvelous books like "The Millionaire Next Door" or you already have a decent personal finance background, I think this book adds little value. thx.

28 of 28 people found this review helpful

Inspired Me to Overhaul My Personal Finances

If you could sum up I Will Teach You to Be Rich in three words, what would they be?

I got this book on a whim (even though the title made it seem kind of dumb) and I'm glad I did. It's the first book I'd ever read on personal finance and Ramit's good advice and fun approach motivated me to make some serious financial changes. Now I'm tracking my finances, I started high-interest online checkings and savings accounts, I got a credit card, and I'm going to be opening a Roth IRA. I didn't agree completely with everything he said (I kind of balked at his advice about salary negotiation and I ended up picking a different bank for my savings account than the one he recommended), but his personal finance strategies are great and it was fun to listen to him.

24 of 25 people found this review helpful

great advice

Technically you could find all of this information for free elsewhere, but Sethi very clearly, very entertainingly and very practically gives tons of advice on how best to automate your money to go to the right investment accounts, what you should look out for and what you should avoid. In a similar vein to the "Four-Hour Workweek," Sethi trains you on developing habits for looking at investments and expenses that stick with you after you've accomplished his weekly action lists.

Although I enjoyed this audio recording, I might recommend getting a printed version because there's a lot of information you'll need to reference at later times.

27 of 29 people found this review helpful

This book changed my life

i purchased the paper book 6 months ago and it completely changed my financial life, i also purchased this audio book about a week ago and it was great listening to Ramit read his own book i also listen to chapters frequently when i need inspiration or a refresh. his blog by the same name is also a daily read now too
Great work Ramit

15 of 16 people found this review helpful

Very Insightful

I'm a bit outside of target age, but did begin investing within that range. Author enlightened me in several areas that will still benefit me going forward. Great info. I would highly recommend to the targeted age, but there is much for others. I feel I'm a bit more security conscience than the author portrayed, and would weigh some advice more so from that perspective, but that does not take away from the central thought of this book. Well done!

13 of 14 people found this review helpful

Great if u live in the USA, don't buy it u don't

Would you say that listening to this book was time well-spent? Why or why not?

If you live in the States it is a great book, but 90% of it does not apply if you live outside the US.

61 of 69 people found this review helpful

The content is much better than the title

This book was recommended to me twice by two different friends. I was skeptical of its value due to the cheesy title, but apparently you can't judge a book by the cover. I really liked this book.

This is not a detailed financial book, it is a very practical "this is the bare minimum you should be doing, and here's how you do it" book. Which for me, was a perfect starting point. I used a lot of Ramit's advice.

If you're young and just getting started with *really* managing your finances, this is your book.

I bought the audio book and half way through bought the paper back book so I'd have quick reference to the resources Ramit frequently cites.

26 of 29 people found this review helpful

Excellent book to plan out your personal finances.

This is a no-nonsense book written by a normal person who knows what he's talking about. There are many opinions that might seem counter to the mainstream, but with a lot of truth. I have internalized many concepts from here and I'm already putting them in practice, and telling everyone some of the great concepts in here. I've read several books about personal finance, but this one is my favorite so far. Very accessible.

12 of 13 people found this review helpful

A good book on how to save money

What did you like best about I Will Teach You to Be Rich? What did you like least?

+ Ramit Sethi explains his concepts with an appealing, if oddball kind of humor. Which is perfect for 20 to 30-somethings interested in learning how to save money.

- A large portion of the book is focused on concepts that do not apply on Europeans. ( such as credit score )

What was one of the most memorable moments of I Will Teach You to Be Rich?

He explains that you should always be looking for angles and be willing to negotiate and gives you examples on how to achieve this.

What does Ramit Sethi bring to the story that you wouldn’t experience if you just read the book?

The way he explains the concepts by introducing stories or anecdotes is best heard, not read.

Was I Will Teach You to Be Rich worth the listening time?

If you are American, I can see how it is interesting to listen to this audiobook. For Europeans however, I would skip it, since there are a lot of concepts that simply do not apply.

The book won't teach you how to be reach ( Ramit Sethi is mostly teaching himself to be rich by writing these kind of clever titled books / blogs ) but it is a good introduction for those who are interested in handling their money in a more responsible, structured way.

50 of 57 people found this review helpful

Brilliant - starting from the beginning right now

This was a well structured, well thought-out and very simple guide to sorting out personal finances. It is a common sense approach that isn't all that common!

I am British so for British listeners: a "401k" is effectively a pension or SIPP, and a "Roth IRA" is an ISA. Just remember this as they are both mentioned frequently throughout. - if you don't know what they are then google them first.

11 of 11 people found this review helpful

if you're American 5 stars. live elsewhere 3 star

great book if you're American. Very geared to US system. not so great from UK.

7 of 7 people found this review helpful

Great 'How-To' guide that anyone will benefit from

Any additional comments?

As a 21-year old British student, I found Ramit's step-by-step guide action inducing - by following the tasks set in each chapter and thoroughly informative. This will provide a solid financial foundation for anyone struggling with credit card debt but also for those planning for the long term. For me however, the most valuable lesson, is Ramit's financial philosophy of saving/investing but maintaining a pleasurable lifestyle where you learn how to enjoy your money. I'm grateful to catch on to this book early, to lay the foundations for financial stability and success in the future and avoid many common mistakes made by many. I have and will continue to recommend this book to friends/family.

2 of 2 people found this review helpful

Ok

Mainly directed towards an American audience, but a good listen nonetheless. Very insightful and some useful information.

1 of 1 people found this review helpful

Very very American

Generally not a bad book, but maybe not as audio book. Also highly focused on American finances. If you live literally anywhere else in the world like 50% of information is useless.

Never finished a book so quickly

This book was full of excellent advice explained very clearly. Some parts were US focused and not relevant to me, but I also bought the paperback version and was pleased to find that it had been adapted for UK audiences. One of the best audiobooks I have bought

US-focused, but still helpful for UK listeners

I'm a 19-year-old student in the UK. Prior to this book I knew sod all about my personal finances, now I'm almost smug about how much I know. More than my parents!! This book has been both entertaining and informative, and I'd highly recommend listening to all of it, even the US-focused parts, because there are equivalents to all of it in the UK, you just need to do a little Google search to find out what those are :)

Get this book!

I don't know why it took me so long to get this book... I'd heard Ramit on the SPI Podcast a couple of times and he came across really well, and I knew this book would interest me but for whatever reason (maybe the title?) I put it off.

I now come to realise that all that did was delay getting started! He even jokes about the title in the audio version of the book!

It's so well structured and not just about investing (another reason some may be put off?). It's a great no-nonsense approach to personal finance and one I'm diving straight in to. As he says, if you just take 85% of this book you'll be alot better off than the average person.

If you have a credit and are wondering what to do with it, or even if you've used this month's credit and this has popped up on your recommendations list, get it! You won't be disappointed.

One thing to note for my fellow Brits, alot of the finer details are aimed at US residents but the general ideas work for anyone and I'm certain that there are local alternatives to some of the US specifics he discusses.

Thank you, Ramit.

Not all relevant for UK listeners but still worth a credit

Lots of irrelevant content for UK listeners but if you can ignore these bits (eg 401K advice), the principle still stand true across the ocean. A really helpful book which (coupled with starting to use YNAB) has seen me improve my finances hugely in a year.

Best one I 've read so far

Pure gold.This is the best beginner's book I 've read so far. A must read ,not only for millenials.