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Personally, I love it. Okay. I like it. So that’s why I don’t hate the FIRE community, but I understand a lot of it because I like a high savings rate. I like seeing compound interest. And I get that, but most people are not like that. Most people are like, I actually wanna go out to this really nice restaurant and know that I can pay for it without worrying. Ramit Sethi: Yeah, it definitely does. And it’s a funny wrinkle in human psychology that even if we are acting in a way that is not serving us, our mind will create a narrative where we end up being virtuous. Ramit Sethi: For anyone who has questions and wants to stay focused on their money. We have a money coaching program as well. We do a coaching call every month and we have this amazing community. We’ll send you the link for that. Jeff is 50, he’s a specialized surgeon. Susan is 48, she stays at home with their two kids. Their discretionary spending has grown over the years, ballooning at an uncontrollable rate. But their biggest issue is that they’re being taken advantage of by a percentage-based financial advisor.
Will Teach You to Be Rich: No Guilt. No Excuses. Just a 6 I Will Teach You to Be Rich: No Guilt. No Excuses. Just a 6
I like older things for multiple reasons. Clothes soften up, and I like them that way. I can putter around the kitchen and garden and not worry about getting mud or fruit juice on them. Some stuff, I just get used to, and it’s comfortable to go on using the old and familiar thing. When I used to write and journal longhand, I found I wrote better in cheap notebooks than in expensive ones. I’m less inhibited about taking apart or remaking a free or thrifted item, too, whether to attempt to fix it or to remake it and do something creative. And they really don’t make some things like they used to. Mad Fientist: Excellent. Well thank you so much, Ramit. Really appreciate it. And yeah, hopefully I’ll touch base with you in another three or four years and I’ll have made even more progress.While these are handy when you’re still trying to figure things out, it’s important that you find a ratio that works for you. The goal is simple, decrease your debt, increase your savings and investments, and allow yourself some guilt-free spending. A certain type of sweater, a picture doesn’t do it justice. A certain type of food. When you see it being made in front of you and you understand where the ingredients came from and how it was sourced. Oh my God, I never knew that much work went into this, and how it tastes is incredible. I can’t thank you enough. Like I knew you were the only person for this chat and I’m so glad we were able to make it happen.
Will Teach You To Be Rich: No guilt, no excuses - just a 6 I Will Teach You To Be Rich: No guilt, no excuses - just a 6
Your savings account should have sub-categories that allow you to save for your various needs. For instance: So the fact that you have tasted that is awesome. Now distinguishing between higher quality. Well, first of all, my fantasy has always been to take one of my friends who made some money and I just go, Hey, come visit me in New York and I’m gonna take you out for three days and show you how to spend your money. I’m literally gonna show you the skill of how to spend money. Mad Fientist: Now, I’ve heard you do this sort of thing with people on your podcast a lot, but I did not expect this sort of like clammy reaction that I just experienced. So this isn’t even a question on my list because I wasn’t expecting this sort of reaction to those pressing questions. That is their primary and sole money lens. When they go to eat somewhere, they look at how much it costs. When they go to book a flight, they look to the right of the screen to find the lowest cost. They sort by cost, cost, cost, cost. And so there’s a couple of isolated things in people’s lives where they’ll spend more. Mad Fientist: You know what that’s a fantastic idea because sometimes it just doesn’t turn out and I don’t know why. And I’m like, how am I gonna figure this out because it’s not something I can YouTube or something. Because I don’t really know why that’s not as good as it should be.Even after 10+ years of spreading the word to people all over the world about the Rich Life, I still run into people who need help with their budget. They typically fall into two categories: There are aspects of my tightwaddery that I’m planning to keep. One is making use of free and secondhand stuff. Where I live, there is vastly more of it than there’s any market for. I mostly use local free groups to get rid of my excess, but I occasionally obtain things. I borrow and lend, too, which keeps everybody from having to own something they only use once or twice a year, and it lets me get to know some of my neighbors. It’s a myth that shopping used is somehow taking away from people who can’t afford much. At least around here, there is vastly more secondhand stuff than there is any market for. Or in episode 16 when Amy and Chris are choosing their vacations based on where they have Marriott points, I go, at what point do you get to choose where you wanna go just based on where you wanna go? Ramit Sethi: That sounds pretty awesome. . Okay. That’s amazing. So there’s so many things we could do. First of all, yeah, you could hire some researcher to schedule a bunch of meetings with you and baristas. Second, let’s say you met a barista, you really like him, him or her and they’re like, oh yeah, you know, next time you try to make your morning brew, do it this way. Do it that way. Try this, do. And you’re like, oh, that sounds really good. And you don’t really feel that confident about it you could say, you know what, can I hire you for two hours to walk me through how I make my morning coffee? Or the minute I start making a joke about, you know, their Monte Carlo simulation. Yeah, it cuts too, it cuts too close, doesn’t it, FIRE people?
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