#536: How to Achieve a "Rich Life" With Your Finances

The Art of Manliness

Society & Culture, Education, Philosophy

4.7 • 14.5K Ratings

🗓️ 21 August 2019

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

If you've read a lot of personal finance advice, you know that it usually concentrates on what you can't do -- what you shouldn't buy and how you shouldn't spend your money. What it doesn't often offer is a vision of what all that scrimping and saving is for. My guest today argues that while knowing how to save money is hugely important, it's important to know how to spend it too. His name is Ramit Sethi and he's the author of the book I Will Teach You to Be Rich. It's now out as a revised second edition, ten years after of the publication of the original. We begin our discussion going over what has and hasn't changed over the past decade when it comes to personal finance. Ramit then makes the case that living what he calls a "rich life," involves not just knowing where to cut back on spending, but where to increase it in places he calls "money dials." We then get into some practical ways to better manage your money to ensure you spend less in areas you don't care about, and more in those you do, including how to manage and pay off credit card debt, the bank accounts you need and how to set them up so that your finances are automated, and why you need to start investing today. We end our discussion on the idea that the big money decisions that many people ignore are more important than the small ones that get a lot of attention. Get the show notes at aom.is/richlife.

Transcript

Click on a timestamp to play from that location

0:00.0	I'm Brad McKay here and welcome to another edition of the Art of Manliness Podcast.
0:10.6	Now, if you've read a lot of personal finance advice, you know that it usually concentrates
0:14.3	on what you can't do, what you shouldn't buy, and how you shouldn't spend your money.
0:18.1	What it doesn't often offer is a vision of what all it's crimping and saving is for.
0:22.0	My guess they argues that while knowing how to save money is hugely important, it's
0:25.2	also important to know how to spend it.
0:26.8	My name is Ramit Sadie, he's the author of the book, I will teach you to be rich.
0:30.2	It's out now as revised second edition, 10 years after the publication of the original.
0:34.5	We begin our discussion going over what hasn't hasn't changed over the past decade when
0:38.0	it comes to personal finance.
0:39.5	Ramit then makes the case that living what he calls a quote-unquote rich life involves
0:43.1	not only knowing where to cut back on spending, but where to increase in places he calls
0:46.8	money dials.
0:47.8	We then get into practical ways to better manage your money to ensure you spend it less in
0:51.3	areas you don't care about, and more in those you do.
0:54.9	When you have to manage and pay off credit card debt, the bank accounts you need and how
0:58.0	to set them up so that your finances are automated and why you need to start investing today.
1:01.9	And we in our discussion on the idea that the big money decisions that many people ignore
1:05.7	are more important than the small ones that get a lot of attention.
1:09.1	After the show's over, check out the show notes at aam.is slash rich life.
1:13.4	Ramit joins me now via Skype.
1:16.4	All right.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Art of Manliness, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Art of Manliness and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.