I Will Teach You To Be Rich - Ramit Sethi

This is a personal finance book that provides an in-depth guide to managing your money, automating finances, and building long-term wealth. Sethi focusses on practical systems that work for you rather than theoretical advice and behaviours that we would have to constantly work on. Instead of a life of frugality, he encourages us to spend extravagantly on what truly gives us joy while cutting unnecessary expenses. This book is a step-by-step on how to build a system for your money where you are automating your savings, investing early, and using financial institutions wisely to create a “rich life” based around the things you truly care to spend on.

My main takeaways from the book are:

• Automate your finances - Create a “Conscious Spending Plan”: Set up automatic payments for savings, investments, and bills to grow wealth without even thinking about it.
• Invest early and often - Use ETFs, retirement plans and index funds to let compound interest work in your favor.
• Guilt-free spending - Spend extravagantly on the things you love and cut costs mercilessly on the things you don’t.
• Focus on big wins - Instead of stressing over pinching pennies, optimise major areas like salary negotiation, investing, and big purchases.
• Build your “Rich Life” - Being rich isn’t just about money, it’s about designing a life where you can spend freely on what makes you happy while still being financially secure and without the mental burden of money.