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#9: Bestselling author Ramit Sethi joins Chris to talk about what living a rich life really means and how to start living one. They also discuss money rules that make your finances easier, the invisible scripts society has created to control our financial lives and how couples can better their tackle money issues.
Ramit Sethi (@ramit) is the author of I Will Teach You To Be Rich, a New Times Bestselling book with over a million copies sold. He also publishes a newsletter and runs programs about money, work and life at iwt.com.
Selected Links From The Episode
Connect with Ramit Sethi: Website | Twitter | Instagram
Ramit Sethi’s Book: I Will Teach You To Be Rich
Money Rules: Ramit's 10 Money Rules
Travel meaningfully: Airbnb Experiences
Full Show Notes
What does it mean to be rich? [01:10]
What’s Ramit's rich life? [02:40]
Two conflicting messages we all receive about money, ignore both and do this. [05:31]
Five personal finance questions everyone should be able to answer. [08:04]
Why buying a house is not always a great investment (the phantom costs of homeownership). [10:04]
Negotiate like an Indian: Why not just ask? [16:38]
What is the right time and place to negotiate? [17:44]
2 things you may not think to negotiate [19:20]
Should you focus on spending less or making more? [20:45]
The first thing you should do to get your financial life in order. [22:44]
Not shopping by price...is that what a rich life is? [28:19]
Wasting time obsessing over $3 purchases. [29:47]
Two things couples get wrong about managing money [30:50]
If your friends call you cheap, are you cheap? [33:57]
Financial educators neglect this demographic. [35:42]
There is a point where you have saved TOO much. [37:57]
Should Chris pay for his next trip in cash and is it a waste of time to optimize? [39:39]
Chapter two of your personal finance journey: What should you do once you’ve made enough money? [45:04]
Ramit's travel hacks [48:50]
The book buying rule. [53:04]
Ramit's 10 money rules that make money decisions much easier. [53:45]
A financial challenge for you. [58:03]
Investing should be boring. [58:53]
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