If you spend a lot of your time watching Netflix like we do, you’ll probably know that there’s a new show with a catchy title ‘How to Get Rich’. Hosted by Ramit Sethi, one of the most popular authors on finance, this show is so entertainingly full of value that our team binge-watched the entire season during the weekend.
Through his books and online courses, Sethi has helped millions of people around the world improve their financial well-being. And so if you haven’t got time to watch the show or you need some convincing to do, here are six financial lessons we can learn from Ramit Sethi:
Automate Your Finances: One of the key insights of Sethi’s philosophy is that automation is key to financial success. By setting up automatic transfers and bill payments, you can ensure that your finances are on track without having to think about it. This helps to reduce the mental burden of managing money and ensures that you stay on track towards your financial goals.
Focus on Big Wins: Sethi encourages people to focus on the big wins, rather than the small expenses. This means identifying the areas where you can make the biggest impact on your finances, such as reducing your housing expenses or negotiating a higher salary. By prioritizing the most significant expenses, you can achieve significant savings without having to make drastic changes to your lifestyle.
Invest for the Long Term: Sethi advocates for investing in low-cost index funds and holding them for the long term. This strategy can help you earn higher returns over time and avoid the pitfalls of trying to time the market. By staying focused on your long-term investment goals and avoiding short-term market fluctuations, you can achieve greater financial stability and success.
Negotiate Everything: According to Sethi, negotiation is a key skill in personal finance. Whether it’s negotiating your salary or your cable bill, you can save a significant amount of money by being a savvy negotiator. By being proactive and assertive in your negotiations, you can achieve better outcomes and improve your financial situation.
Build a Rich Life: Sethi believes that personal finance is not just about saving money, but about building a rich and fulfilling life. This means focusing on the things that bring you joy and fulfillment, such as travel or hobbies, while also being mindful of your finances. By balancing your financial goals with your personal passions and interests, you can achieve greater happiness and well-being.
Take Action: Finally, Sethi emphasizes the importance of taking action. It’s not enough to read about personal finance or listen to podcasts; you have to take action to see results. Whether it’s setting up automatic transfers or negotiating your bills, taking action is the key to achieving financial success.
In summary, Ramit Sethi’s financial lessons are practical, actionable, and effective. By automating your finances, focusing on big wins, investing for the long term, negotiating everything, building a rich life, and taking action, you can improve your financial well-being and achieve your financial goals. By incorporating these lessons into your financial plan, you can build a secure financial future for yourself and your loved ones.