Book · Money and wealth mindset · 2009
I Will Teach You to Be Rich
Ramit Sethi · 10 chapters
The Useful verdict: Read chapters 4, 5 and 6 wherever you live. Much of the rest is built around US banks, cards and accounts.
The book in 60 seconds
Ramit Sethi lays out a 6-week program for running your money on autopilot. Set up good accounts, automate saving and investing on payday, invest in low-cost funds, then spend guilt-free on what you love and cut hard on what you don't.
Your time
About 3.5 hours to read the parts that matter, instead of about 7 hours for the whole book.
Based on about 272 pages at 40 pages an hour, with skimmed parts counted at a third.
Raja's take
Skip the parts written for Americans: credit cards and US retirement accounts. Keep the system. Automate saving on payday, then spend without guilt on what you love. That works in any country.
Read only these chapters
Tap any chapter. Read: ch. 4, ch. 5 and ch. 6.
4. Conscious Spending
Spend a lot on what you love and cut hard on what you don't.
4 ideas from this book
Conscious spending
Decide your big categories once, then spend without guilt inside them.
Pay yourself first
Move savings out automatically the day after payday.
Ignore the experts
Low-cost index funds beat most stock pickers over time.
Cut costs mercilessly
Cut hard on things you don't care about so you can spend on what you do.
Read it if
You want a simple money system that runs without willpower.
Skip it if
You want the why behind money behavior. Read The Psychology of Money.
Quick answers
Is I Will Teach You to Be Rich worth reading?
Yes, but not all of it. Read 3 of its 10 chapters: ch. 4, ch. 5 and ch. 6. Much of the rest is built around US banks, cards and accounts.
Which parts of I Will Teach You to Be Rich should I read?
Read ch. 4, ch. 5 and ch. 6. Skim the parts marked skim for their 1 idea, and skip the rest on a first read.
Who is I Will Teach You to Be Rich for?
You want a simple money system that runs without willpower. Skip it if: You want the why behind money behavior. Read The Psychology of Money.
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