Review of I Will Teach You To Be Rich by Ramit Sethi

Review of I Will Teach You To Be Rich by Ramit Sethi

iwillteachyoutoberich

At Grocery Alerts we are always looking to help save Canadians money. This book is a little different from our normal strategy of showing the major sales and outlining ways to save with coupons and smart shopping.

The author Ramit Sethi enforces major changes in your financial life like:

  • getting a raise
  • beating the credit card companies (taking advantage of perks)
  • renting vs buying a house
  • investing
  • budgeting
  • automating your financing.

Here are some other reviews:

"Ramit Sethi is a rising star in the world of personal finance writing…one singularly attuned to the sensibilities of his generation … His style is part frat boy and part Silicon Valley geek, with a little bit of San Francisco, hipster thrown in." — The San Francisco Chronicle

"You’ve probably never bought a book on personal finance, but this one could be the best $13.95 you ever spent. It’ll pay for itself by the end of Chapter 1 (check out the box on page 24 to see what I mean)." —Penelope Trunk, Author of Brazen Careerist: The New Rules For Success

"Ramit demystifies complex concepts with wit and an expert understanding of finances. Not only is this book informative, it is fun and includes fresh tips that will help anyone master their finances." — George Hofheimer, Chief Research Officer, Filene Research Institute

I wanted to outline the book, chapter by chapter, with the major bonuses from the book.

WEEK 1 Credit Cards

  • Getting a credit card
  • How credit score is calculated and what to do to improve it.
  • What to do when you miss a payment (a script he used to get this reversed)
  • Mistakes to avoid (great points about closing a credit card)

WEEK 2 Bank Accounts

  • Marketing tricks of the banks
  • Getting a high interest savings account
WEEK 3 Investing Accounts
  • Open a 401 K (RRSP counterpart for Americans) – Canadians ignore this chapter but understand his lessons on planning to pay your debt.
WEEK 4 Conscious Spending
  • Find out ways to improve your budget and spending on your fixed costs (gym, insurance, cable)
WEEK 5 Automatic Money Flows
  • Create a system to automatically save/spend to save time /money.
WEEK 6 Investing Choices
  • Shows the flaws of financial planners (find out your investment style and research your investments).

My favorite parts are at the back where Ramit shows a great case study on getting a new job and a massive raise. He has scripts throughout the book and he seems to have great evidence to back up his scripts.

Here is the review on YouTube I recorded where I reveal a secret his strategy to get a massive discount on a new car.

Review of I Will Teach you to be rich–Reveal secret tip to lower price of new car

My recommendation is that for the low price of under $12 you could get this book new from Amazon below.

Steven Zussino

Steven Zussino is the co-founder of Grocery Alerts Canada. He loves to help Canadians save money on groceries. He also runs the blog, CanadianTravelHacking.com.

Newsletter

AMEX SCOTIA

Send this to friend