WEEK ONE LEARNING MODULE 2 – RAMIT SETHI

Money Management with a Young Family Learning Module Two

LEARNING MODULE 2 : PODCAST – Ramit Sethi: ‘What Is Your Rich Life?’ (53 Minutes)

Ramit has a refreshing yet effective approach to managing your money and your life.  Ramit is an American personal finance advisor and entrepreneur. In this podcast Ramit describes how he uses money to pursue his life goals, rather being constrained by money. Sethi is the author of the 2009 New York Times Best Seller, I Will Teach You to Be Rich and founder of GrowthLab.com. Click the title link above to listen to the podcast and share your ideas with the group in the discussion box.

Pro-tip:  If you don’t have 53 minutes to listen to the podcast, increase the speed to 1.5X or 2X.  You will still understand everything they are saying.  If you are not sure want to invest even 40 minutes, check out the 4 min YouTube video below to hear a brief summary of the concept.

KEY TAKEAWAYS:

Ramit asks “What is your rich life?”. Many people think of money as a source of conflict or stress, and others think of money as an end in itself; however Ramit asks people to think of money as a tool to define and live their own amazing, fulfilling life.

Most personal finance gurus focus on ways to save money; however Ramit suggests that you should spend lavishly on things that are important to YOU, and then ruthlessly cut everything that isn’t important to you.

Ramit recommends you focus on “$30,000 questions” rather than fretting over lattes. These $30,000 questions include:

  • Increasing your income and earning potential.
  • Automating your finances with automatic payments and investing

If you do not have 53 minutes to listen to the podcast above, check out this 4 minute video below for related concepts.

I Will Teach You To Be Rich – 8 Ways to Live a Richer Life (4 minutes)

DISCUSSION QUESTIONS:

How do you like Ramit’s perspective?  Did it seem reasonable?  Does it align with your values?  If you adopted some or all Ramit’s recommendations, would you feel like you are managing your money effectively?

Please join the discussion and share your thoughts in the discussion box below.

Back to Week One – Summary ….

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