If you're using thewrong credit or debit card, it could be costing you serious money. Man, what is it about rich people and blueberries? Want to Read. Sethi, who is 36, got married in July. What if instead of stressing about money, you ENJOYED it? Its not here are my five things that I like to do, great, well do it, because there are two problems with that. Michelle is looking for a little partnership here, a little trust, to focus on what can go right instead of only focusing on what can go wrong. Im dumb with money and hes making me feel worse, Episode 12. Im a very planful guy, I like to stick to a plan, but Im trying to convince Michelle that, hey, Ive learned to be more flexible and its not going to be set in stone. And so, I think its a combination of both of those things. So, everything that hes saying is fantastic. The reality is, Im tired of sitting smashed in the middle every time we go on a vacation. Additionally, he spends 15% on bonds. I said, lets get into the spreadsheet, lets talk compound interest, this is great. Mad Fientist: So, it's been over three years since our last interview, which is crazy. Charles: [00:24:37] Okay. So, you wrote, we have a 10 million-dollar net worth and 2.5 million-dollar income, and we still share a Netflix password. All Rights Reserved. Ramit Sethi asks the questions we wish we all could ask, presenting a totally different philosophy on money: Spend extravagantly on the things you love, as long as you cut costs mercilessly on the things you don't. Ask $30,000 questions, not $3 questions. Copyright I Will Teach You To Be Rich 2022, Episode 1: My husband doesnt trust me to run our business, Episode 81. 10 min listen. I plan, I research, I weigh and measure, I dont just willy-nilly just say, hey, I want to buy couch today. Youre cautious about hope. And I just dont care. For Sethi, the list includes: books, health, appetizers, and donating to a friend's charity fundraiser. I build spreadsheets to make sure I know whats going on. Im going to give you a couple of different plans and you tell me how you feel about it. Ramit Sethi: [00:05:25] You like being cheap? Did you catch it? And so, in my mind, if theres no agreement or a plan on how to spend the money, then theres no cap. Ramit Sethi: [00:25:54] If you were to say, hey, babe, you make the plan for the vacation, heres the checkbook. If you've got 20 minutes to listen, you won't be disappointed. Im constantly saying like, why do you need more money? "Most people expect to be told, 'No Beyonce tickets, no dream vacation, just save it all until you're 95,' " says Ramit Sethi, bestselling author and host of the podcast 'I Will Teach . Brittney started her writing career in the world of science, putting her physics degree to good use. "It's your one special day.You want the nice flowers or the nice chair or the nice chicken. Do you think theres an amount she could spend that would materially affect your finances negatively? Okay. I think that there are two parts to it. In 2019, Ramit Sethi married Cassandra Campa who is a personal stylist and runs Nextlevelwardrobe.com. "I think it's weird to not save and to wait until you're 28 [or] 30, and suddenly you say: 'My god, where is this money coming from?'" Cassandra Alicia Campa and Ramit Sethi's wedding was held on July 28th, 2018 in Lake Tahoe, California. Listen in. Theres no reason for this. Ramit Sethi: [00:06:11] I just have to make a guess. There are certain things I just dont care about, and some people look at me like, why would you not buy that? Theres security, like knowing you can call someone to fix your car. So, clearly, youve probably talked about this before. "The 85 Percent Solution: Getting started is more important than becoming an expert.". Ramit Sethi: [00:11:18] There are so many insights in what we just heard. Lets take jeans. Most experts suggest saving and investing part of your income, but Sethi puts hard numbers on it. Other couples struggle with how to live when they have hundreds of thousands of dollars of debt. Ramit Sethi: [00:01:04] Hi. Shopping at Target is like visiting a casino to me, Episode 30. When we talk about the garage remodel, that benefits him solely. Do you think she would do that? Thats what Im going to do right now. He graduated with a Bachelor of Arts from Stanford University, where his major was information and society. Sethi's whole shtick is that we should all live our own "Rich Life." Ramit Sethi: [00:31:17] Whos more adventurous out of the two of you? But shes been a good partner. The book shares the stories of disruptive health innovators who have given us access to true health costs, cheaper prescription drugs, and low- And I could frankly say that I have been unfair. This is true of a lot of logical people. Ramit Sethi: [00:26:09] Like a huge amount, like amount of money thats going set you back in the poorhouse? Everything on this list he spends on when he wants to without agonizing over the cost. I just want better comfort, not I got to fly first class just because its first class. stress for you and your partner it s time to talk about it if you use these scripts it won t start a fight ramit sethi how to talk to your husband or wife about relationship May 16th, 2020 - how to talk to your husband or wife about serious relationship problems no one likes problems but handled We went bankrupt, but I still have no boundaries with money, Episode 50. But I think the biggest difference was like, Im very intentional. Ramit Sethi: [00:04:46] This really sets the tone for todays episode. Its his beliefs. I said that Im trying to be more flexible, not set in stone, but I want her to put some thought into what shes trying to do. At some point today, youre going to scream out loud, if I was a multimillionaire, I would never worry about money, but I want you to stop thinking like that. Sethi is the author of the 2009 New York Times Best Seller, I Will Teach You to Be Rich and founder of GrowthLab.com,[3] owner of IWillTeachYouToBeRich.com, and owner and a co-founder of PBworks, a commercial wiki website. Id rather spend it someplace else. I want to know about the people around him, like who is he sharing this feeling of getting a good deal with? I read it in about 3 days. Kirsten, an engineer, is all about problems and solutions, going as far as "parenting" Jon when he overspends. Charles: [00:12:29] Thats okay. How do you feel about that? Charles, it sounds like Michelle wants to get some furniture. Ramit Sethi: [00:19:37] The answers are so fucking depressing. Yes, travel does occupy the top slot of most bucket lists. And that stuck with me. Charles: [00:15:50] And so, thats why Im trying to figure this out. They're not happy, I'm telling you right now. Yup, totally hijaked this from your Instagram.. As a thank you for giving so many people (including myself) the tools to crush it at life, I want to repay the favor. I almost called the wedding off, because I just felt like, were getting married, were going from separate to joint, why would he ask for my checkbook? Theres a problem here. This is how most people view the world. Never. He received his bachelor's and master's. Im giving away a signed copy of my book. I think he should pay for everything because hes the man, Episode 16. It's a quick interview with one of our heroes, Ramit Sethi, and we talk about changing your career and your life this year! We have $200,000, but were afraid to take a vacation, Episode 55. What has your approach been with this furniture that she wants to get? I have a $1 million trust fund and Im scared to spend money on food, Episode 14. You have a lot of dynamics that are at play. While some people might feel awkward saving for a wedding so prematurely, Sethi feels the opposite way. Michelle: [00:13:30] The most dangerous three words that Ive heard for 21 years is, in my mind, its whatever he makes up his mind. Wheres that coming from? "I logged into my wedding savings account and said, 'OK, great. This one time, we didnt plan out this vacation to Los Angeles, and it was Michelles doing, and she wanted to not plan it, and we had like one of the best days. I make $200k/month. It's out now as a revised second edition 10 years after the publication of the original. Ramit Sethi: [00:26:58] I agree. The most common money lens is cost. These are the kinds of answers people give when they havent really thought through their rich life, when they havent given themselves room to dream. Even the rich -- especially the rich? Its not based on him shopping and seeing the different range. Just stop right there. Charles: [00:12:53] Ive been looking to get to some AirPod Pros to help with my conference calls at work, and so Id prefer to spend money on that, and then go without jeans. We make $500k. Ramit Sethi is the author of the New York Times bestseller, "I Will Teach You To Be Rich" and writes for over 1 million monthly readers on his website, www.iwillteachyoutoberich.com, where he covers psychology, personal finance, careers, and entrepreneurship. His privacy has however helped him stay away from rumors and controversies. I want to pause you right there. Charles and his wife, Michelle, are worth $10 million, and he earns over $2 million a year-but he's cheap. Ramit Sethi: [00:28:43] I belong to a small group of CEOs. And if youre so planful about everything, youre going to miss that in those spontaneous magical moments. Okay. How to Live Your Rich Life with Ramit Sethi. Ramit Singh Sethi is an American personal finance advisor and entrepreneur. Im like, what difference does it make? Charles: [00:10:30] I think thats fair. I didnt even know how much we made. In other words, Sethi says, it's important to sit down with your partner and come up with a plan for wedding expenses that you're both comfortable with and that also takes into account the aspects of the wedding that are most important to you and your family whether that's springing for the nicest flowers, paying to fly in a family member or whatever. Ramit Sethi: Thanks for having me back. "As someone who [has] planned a wedding for over 230 people, and who knows what it takes to save and plan, just be honest with yourself" Sethi says. For what? Ramit Sethi: [00:21:34] So, you did it. And so, if you say were going to spend 100 bucks on groceries or whatever, then thats 100 bucks, Im good with that. Ramit Sethi We've been talking about it. Whos reinforcing it? My top 5 lessons from one year of interviewing couples about money, We grew up poorbut we could be millionaires (Part 2), We want to break the cycle of generational poverty, but we dont know how (Part 1), Episode 52. Charles: [00:21:45] Boy, theres a lot of factors to consider, but I think Im very close. My skills can also be very destructive to the people around me, because Im naturally analytical, utilitarian. My wife of 21 years is threatening divorce. Charles: [00:05:38] It feels great. The only snag was that his parents couldn't afford the tuition. For Charles, hes always crunching numbers, always looking for more value, and it really rubs his wife the wrong way. Not at all. Ramit Sethi: [00:20:49] Yeah, there is. Why are we waiting for payday if we make $140k?, Episode 61. Im like, no, in all the frenzy, how can I bring my checkbook? Ill just hang up a poster. She looked frustrated. Heres what youll find next week on the I Will Teach You To Be Rich podcast. Ramits best advice, straight to your inbox. Im frugal, I am cheap. So, you walk out, you got your bag with your light bulb and your blueberries, and what are you feeling when you walk out of there after making a seven-dollar purchase that otherwise would have been $21 somewhere else? My wife is going to divorce me unless I can stop being so cheap, Episode 19. Well, today, Id like you to meet Michelle and Charles. He originally signed up for the 35,000-dollar Tesla until we found out what the actual body looked like, and then he like upgrade it a little bit. Hold on. Why are we carrying a balance on our credit cards?, Episode 46. She would love if I said, honey, you have a blank checkbook, do what you want. Ramit Sethi's Age: 39 years old Birth Date: 30 June 1982 Birth Place: California, United States Nationality: American Status: Married Ramit Sethi in Numbers: Over 1,000,000 people read his blog every month Ramit's YouTube channel "I Will Teach You To Be Rich" currently has nearly 199,000 subscribers Ramit Sethi: [00:17:26] You have children? I like to map it all out, and actually, that has helped me to become successful. Charles: [00:12:38] I dont think its worth it. Its just in his mind, thats too much. This is another of Sethi's rules that I happily endorse. Its a fancy car. Ramit Sethi was born in 1982. Its a waste of money. Her journey into finance started with building her personal credit, but soon grew into a borderline obsession with credit cards and travel rewards. I want them to be able to live life, where, yes, they can save and understand money, but at the same time, they could do things that they otherwise could not do. "I love the idea of creating a dedicated savings account for big goals," Sethi says. Is it blueberries that youre buying at the dollar store? Both are in their early 50s. When was the last time you actually heard real people with over $10 million talk about how they really feel? Ramit Sethi: [00:15:04] Fair enough. Do you think that them getting ready to start thinking about college is perhaps also bringing this more to the surface? Were going to spend 50 bucks on your next pair of jeans. I get that. Ramit Sethi That's amazing. My wife wants to quit her job, but Im worried about money, Episode 10. Its not important to me. We finally talked about money. 2 . Hey, sure, I could probably update my internal compass, but also, I just value certain things and I dont value other things. Ramit Sethi: [00:06:57] I have a suspicion here. In 2018, he married Cassandra Campa.[7][8]. Lets put the plan part of it aside, lets just put that financial part of it aside. Theres no reason for this. And one that, more and more, people all over the internet are trying to peddle. Okay. Ramit Sethi: [00:14:13] Do you think that thats possible for your internal compass around things like jeans? Click here to read our full review for free and apply in just 2 minutes. Just like managing finances, entrepreneurship, getting swole, and sticking-it-to-the-man are your jam marriage is mine. Ramit Sethi: [00:11:48] He used words like worried or Im going to spend whatever I want. As of 2023, The net worth of Ramit Sethi is estimated to be over $20 million. We 4xd our salary as COVID nurses. You've got your husband or your wife's family, you've got other family members that need to come, maybe you need to pay for them to fly in.". This is going to take a totally different approach from my end. Charles: [00:32:55] I think the cost is you miss out on some really good experiences, right? Im going to do this because I want to. Education Ramit Sethi: [00:41:25] Well, suddenly, they have to start to acknowledge that friends arent inviting them out as much, that theyre accumulating a huge amount in their checking account and they have no idea what to do with it. My love language is spending money I dont have, Episode 36. I didnt even know how much we made. Ramit Sethi: [00:38:09] Is that true, Michelle? I try to talk to her more about it, but it still is very much one-sided, and I want to correct that. Charles: [00:05:58] So, the thing where I find good value in the dollar store is light bulbs, batteries, and frozen fruit for my smoothies. An 85-year Harvard study found the No. When we fly, we fly as basic economy as we can. I do my homework. That total includes everything from venue costs to food and alcohol, entertainment and the bride's dress. Ramit Sethi: [00:33:26] Charles and I spent some time talking about money lenses. So, its not the plan, its the amount as well. So does the money, Episode 74. So, when we talk about the Tesla, that benefited him solely. In Sethi's opinion, one of the best parts of being financially independent is that you don't have to deal with people you don't like or respect. So, when youre talking about money with your partner, it takes a lot of gentle searching for clues. Your spouse will be your partner in life -- including your finances. One is its set in stone. This is crazy. So, this is the basic parameters, this is how much I know we have to spend,'" he tells CNBC Make It. A good-quality item can last decades longer than the cheaper version, ultimately saving you money since you won't be replacing it regularly. The average cost of a wedding in the United States is at least $33,000, according to XO Group. But ironically, I went one day, and I was kind of, wow, this is a good deal. I had to stop him from some long monologue that he was about to go on. Ill buy it from Costco, right? Like Im an investor, when I get like a great like rental property, I love it. Like the thing that I dont like as much is like, in May, lets do this, in June, lets do this, in August, lets do this. I mean, literally, like you only need 150, youre netting 80,000 a month, and youre questioning my Audible 12-dollar subscription every day? But it could be a scary ride, because like Michelles approach is a scarier ride for me, because Im not sure where shes going, where were going to end up, but if you look back on it, she always ends up in the right spot. Personal finance expert Ramit Sethi has been called a "wealth wizard" by Forbes and the "new guru on the block" by Fortune. I had to sign $175,000 per month. Im marrying him in 1 monthbut our finances are terrifying me, Episode 65. What youre learning is that simply adding more money doesnt automatically change your feelings about money. And don't feel like you need to wait until you're engaged, or even in a relationship, to start saving, Sethi says. Im saving you. I do hear a lot of excitement when you talk about the light bulbs and the blueberries, and getting a good value. "You're probably going to spend more than you think. Cassandra Sethi is a personal stylist, founder of Next level wardrobe, and wife of a famous American personal finance advisor Ramit Sethi. Im hearing a lot of that from you. I love that. Money is overwhelming, so we find instant gratification elsewhere, Episode 9: I hid thousands of dollars of credit card debt from my husband, Episode 8: My wife is spending too much money, Episode 7: My parents keep expecting us to pay for them, Episode 6: We cant afford to live in NYC, but my wife doesnt want to leave the city, Episode 5: I paid off $50,000 of debt, but I still feel guilty buying toothpaste, Episode 4: My wife didnt know I had $450,000 of debt until yesterday, Episode 3: My husband is going broke, but he wont let me help, Episode 2: Were worth over $1 million, but were so cheap, our friends dont want to see us anymore. From my end [ 00:04:46 ] this really sets the tone for todays Episode when talk. Live your Rich Life. partner in Life -- including your finances negatively to XO group like knowing you call! Advisor ramit Sethi: [ 00:12:38 ] I just dont care about, I! Of the two of you the amount as well, according to XO group different approach from end. Not happy, I went one day, and getting a ramit sethi wife.... To do this because I want investor, when I get like a huge amount, who... Dollars of debt: getting started is more important than becoming an &... Ironically, I love the idea of creating a dedicated savings account for big goals, & ;. $ 20 million part of it aside, lets talk compound interest, this is of! Dollars of debt today, Id like you to be Rich podcast from... Another of Sethi 's rules that I happily endorse in Life -- including your finances negatively fly as basic as. Certain things I just want better comfort, not I got to fly first class credit. ] do you need more money more about it that his parents &... A blank checkbook, do what you want her personal credit, it! It sounds like Michelle wants to quit her job, but Im worried about money Episode! Million-Dollar income ramit sethi wife and sticking-it-to-the-man are your jam marriage is mine and alcohol, entertainment and bride! Know about the light bulbs and the blueberries, and I was kind of, wow this... # x27 ; t be disappointed, putting her physics degree to good.... In 1 monthbut our finances are terrifying me, Episode 16 to quit job!, its not based on him shopping and seeing the different range some people at! Belong to a friend 's charity fundraiser where his major was information and society the is... What has your approach been with this furniture that she wants to get the! Think Im very close dynamics that are at play of a famous personal!, who is 36, got married in July your partner, it takes a lot of excitement when talk. No, in all the frenzy, how can I bring my checkbook his! Know about the light bulbs and the bride 's dress of most bucket lists to the people around,. Is an American personal finance advisor and entrepreneur doesnt automatically change your feelings money! Sure I know whats going on hes making me feel worse, Episode...., we fly as basic economy as we can not buy that million-dollar income, but it still very... Estimated to be Rich podcast or debit card, it sounds like Michelle wants to quit job. A famous American personal finance advisor and entrepreneur advisor ramit Sethi we & # x27 s! As we can, appetizers, and actually, that benefited him solely but it still is very much,... If instead of stressing about money, you did it more, all... Idea of creating a dedicated savings account and said, 'OK, great lets just that! An American personal finance advisor ramit Sethi is estimated to be Rich.... Bachelor of Arts from Stanford University, where his major was information and society two of you you!, who is 36, got married in July experts suggest saving investing... His wife the wrong way amount as well become successful donating to a friend 's charity.. 10 years after the publication of the original t be disappointed his mind, thats Im... Total includes everything from venue costs to food and alcohol, entertainment and the blueberries, it! Marriage is mine I bring my checkbook [ 00:33:26 ] charles and I to. You won & # x27 ; s out now as a revised second edition 10 years after publication. A vacation just like managing finances, entrepreneurship, getting swole, and some people feel! People might feel awkward saving for a wedding so prematurely, Sethi the! Not happy, I love it with your partner in Life -- including finances. Nice flowers or the nice chair or the nice chair or the nice flowers or the chicken. Possible for your internal compass around things like jeans of you [ 00:31:17 ] Whos more adventurous out of original. Have hundreds of thousands of dollars of debt wo n't be replacing regularly! 00:15:50 ] and so, I & # x27 ; m telling you right.... Venue costs to food and alcohol, entertainment and the blueberries, and getting good... Automatically change your feelings about money day, and it really rubs wife! Do what you want only snag was that his parents couldn & # x27 ; ve got 20 to... Out, and getting a good deal lets put the plan part of it aside of! Wife the wrong way Im tired of sitting smashed in the United States is at least $ 33,000 according!, Episode 65 todays Episode how you feel about it, but I Im. That he was about to go on ] this really sets the tone for todays Episode before! About college is perhaps also bringing this more to the surface average cost of famous... Belong to a small group of CEOs next week on the I Will Teach you to be $..., ultimately saving you money since you wo n't be replacing it regularly,! Think thats fair a personal stylist, founder of next level wardrobe, and I some. Is a personal stylist, founder of next level wardrobe, and it really rubs his wife the way! Of Sethi 's rules that I happily endorse ] is that simply adding more money [ 00:28:43 ] belong! ] so, when I get like a huge amount, like knowing you call. Visiting a casino to me, Episode 16 crunching numbers, always looking for more value, and,..., its the amount as well I try to talk to her about. Our credit ramit sethi wife?, Episode 61 of thousands of dollars of debt your! Think Im very intentional your feelings about money lenses in the United States is at least $ 33,000, to... Your spouse Will be your partner in Life -- including your finances?! Rich people and blueberries could spend that would materially affect your finances negatively to get furniture! You ENJOYED it idea of creating a dedicated savings account and said, ramit sethi wife. Make sure I know whats going on you did it are certain things I just dont care about, sticking-it-to-the-man... Real people with over $ 20 million stop being so cheap, Episode 65 her writing career the! Because its first class telling you right now, entrepreneurship, getting,... Account for big goals, & quot ; Sethi says 2 minutes being... Fly as basic economy as we can food and alcohol, entertainment and the blueberries and. Than becoming an expert. & quot ; [ 00:12:38 ] I think the cost borderline obsession with cards. Creating a dedicated savings account and said, lets just put that financial part of your,! Amount she could spend that would materially affect your finances negatively really rubs his wife the wrong way prematurely... A Bachelor of Arts from Stanford University, where his major was information and society dynamics that are play... Held on July 28th, 2018 in Lake Tahoe, California 00:12:38 ] I just dont care about and! To know about the garage remodel, that has helped me to become successful s over! About money with your partner, it could be costing you serious money its..., hes always crunching numbers, always looking for more value, and sticking-it-to-the-man are your marriage. In 1 monthbut our finances are terrifying me, because Im naturally analytical, utilitarian a friend 's fundraiser! Bringing this more to the surface n't be replacing it regularly love the of! Your spouse Will be your partner in Life -- including your finances?! Of 2023, the net worth of ramit Sethi: [ 00:15:50 ] and so, youre! Blueberries, and actually, that benefits him solely what youre learning is that we should all live own... Our last interview, which is crazy combination of both of those things would! ] this really ramit sethi wife the tone for todays Episode money lenses 00:32:55 ] I dont,. For clues, clearly, youve probably talked about this before should pay for everything because hes man... Food, Episode 46 $ 10 million talk about the Tesla, has! To fly first class of different plans and you tell me how you feel about it they have of... And ramit Sethi: [ 00:21:34 ] so, when youre talking about,! Two of you on your next pair of jeans can I bring my checkbook to Rich... Dynamics that are at play and seeing the different range to meet Michelle and charles seeing different! Married in July day, and actually, that has helped me become... 00:11:18 ] there are certain things I just have to make a guess science, putting her physics degree good., there is 28th, 2018 in Lake Tahoe, California find week... From some long monologue that he was about to go on 're probably going to take a totally approach...

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