Ramit Sethi: The Psychology of Money, I Will Teach You To Be Rich | Finance | E220

Young and Profiting with Hala Taha (Entrepreneurship, Sales, Marketing)

YAP Media Network

Education, Marketing, Entrepreneurship, Business, Self-improvement

4.8 • 1.3K Ratings

🗓️ 24 April 2023

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When Ramit Sethi graduated from high school, he built a system to apply for 60+ scholarships that earned him a full ride to Stanford University. But when he got his first scholarship check, he invested it in the stock market and lost it all. That’s when he decided to change his money mindset and learn the secrets of money-making. Today, Ramit helps a worldwide community of people who want to create their Rich Lives, their own way. In this episode, Ramit will cover his background and the psychology behind money. He will break down the concept of money dials and how to indulge in guilt-free spending. He will share his advice on how to create our very own RICH life. Ramit is a New York Times best-selling author of the popular book I Will Teach You To Be Rich. He is an expert on business, careers, negotiation, psychology, and money. Ramit hosts the popular podcast I Will Teach You To Be Rich and is also the host of the new show, "How to Get Rich," which premiered earlier this month on Netflix. In this episode, Hala and Ramit will discuss: - Ramit’s early views on money - Why Ramit started his finance blog in college - What it means to live a RICH life - The “invisible scripts” we believe about money - The biggest money mistake that couples make - Four numbers you have to track as a conscious spender - The psychology of spending - Using our Money Dial - Why we shouldn’t feel guilty about buying what we love - How to land your dream job - Negotiating your salary - And other topics… Ramit Sethi is a personal finance and business expert who studied psychology at Stanford. He started a blog about business, money, careers, and psychology that now has 1 million+ monthly readers. Ramit frequently appears in the media. He wrote the bestselling book I Will Teach You to Be Rich in 2009, and a new edition of the book in 2019. Ramit hosts the popular podcast I Will Teach You To Be Rich. Ramit also has a new Netflix Show called “How to Get Rich,” which premiered on April 18th, 2023. Resources Mentioned: Ramit’s Website: https://www.iwillteachyoutoberich.com/ Ramit’s LinkedIn: https://www.linkedin.com/in/ramitsethi/ Ramit’s Twitter: https://twitter.com/ramit Ramit’s Instagram: https://www.instagram.com/ramit/ Ramit’s Facebook: https://www.facebook.com/IWT/ Ramit’s Podcast I Will Teach You to Be Rich: https://www.iwillteachyoutoberich.com/podcast/ Ramit’s book I Will Teach You to Be Rich, Second Edition: No Guilt. No Excuses. No BS. Just a 6-Week Program That Works: https://www.amazon.com/Will-Teach-You-Rich-Second-ebook/dp/B07GNXPP4P Ramit’s show “How to Get Rich”: https://www.iwillteachyoutoberich.com/netflix/ LinkedIn Secrets Masterclass, Have Job Security For Life: Use code ‘masterclass’ for 25% off at yapmedia.io/course. Sponsored By: Sign up for a $1 per month trial period at shopify.com/profiting More About Young and Profiting Download Transcripts - youngandprofiting.com Get Sponsorship Deals - youngandprofiting.com/sponsorships Leave a Review - ratethispodcast.com/yap Watch Videos - youtube.com/c/YoungandProfiting Follow Hala Taha LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ TikTok - tiktok.com/@yapwithhala Twitter - twitter.com/yapwithhala Learn more about YAP Media Agency Services - yapmedia.io/

Transcript

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0:00.0	Everybody teaches us how to save, but nobody teaches us how to spend.
0:18.1	And the psychology of spending is absolutely fascinating.
0:22.0	The frank truth is that most of us will go our entire lives without learning the skill
0:26.3	of spending our money meaningfully.
0:28.8	If you think of our lives like an orchestra, most of us have only one note, and that is
0:34.1	save. The way you feel about your money is highly uncorrelated with how much you've got in the bank.
0:41.8	Yes, you've got to know how to save, but you've also got to know when to spend on convenience or safety or even luxury.
0:50.2	When you really know what you love, life becomes quite rich for you. Money is not just about
0:56.3	numbers. It's really about communication and psychology. What is up young and profiteers?
1:06.6	You're listening to Yap Young and Profiting podcast where we interview the brightest minds in the world and unpack their wisdom into actionable advice that you can use in your daily life.
1:17.1	I'm your host, Halitaha.
1:18.8	Thanks for tuning in and get ready to listen, learn, and profit.
1:22.6	Thank you. Welcome to Young and Profiting Podcast, Rameet. Thanks for having me. I am really excited. We've been wanting to have you on Young and Profiting podcast for a few years now.
1:44.6	So Young and Profiters, if you don't know, Rameet Satie, he is a New York Times bestselling author
1:49.3	of the popular book, I Will Teach You to Be Rich. He's also an expert on business, careers,
1:54.3	Negotiation, Psychology, and Money. He hosts a popular podcast, I Will Teach You to Be Rich,
1:59.0	and is also the host of the new show,
2:01.3	How to Get Rich, which premiered earlier this month on Netflix. In this episode, we're going to learn
2:06.1	about Rameet's background and gain insight on the psychology behind money. We'll break down
2:10.3	the concept of money dials and how to indulge in guilt-free spending. And lastly,
2:14.7	we'll get Rameet's advice on how we can all create our own vision of a rich
2:18.4	life. So Rameet's, to kick us off, let's get to know you a little bit better. Your family is from
	...

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