Saved $1,000? Do THIS Right Away!

Your first $1,000 can pave the way to your financial success. In this video, I'll walk you through my 3-step process not just to save more money, but also to start growing your savings immediately.

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Ramit Sethi is the host of Netflix’s “How To Get Rich” and New York Times bestselling author of “I Will Teach You To Be Rich”

[conflictofinterests]

I've been watching Ramit for only 2 years now. I have saved a 6-month emergency fund and lost my job last month. This has saved me and ensures I don't make decisions out of fear. It has given me the space to plan my next steps with intention, and I don't have to take a lower-paying job in desperation. Thanks, Ramit!

[robertcampbell]

I went today and put $1k (emergency fund) into high yield savings account paying 4.25%. I’m gonna self fund it by transferring money into it to build up my 3 to 6 months of expenses! Thank you Ramit!

[AstorSkywalker]

The emotional effect of having an emergency fund is invaluable.

[foreveranuj]

The first $100K of saving/investing is pure self-discipline. Fight off all the temptations of the WANTs & learn to live with the NEEDs, and also learn to thrive in it.
After $100K is invested wisely, it'll balloon. The next $100K comes quicker, and before you know it you're at $500K (assuming consistent investment habits, simple/frugal but a happy lifestyle, and harnessing the power of Compound Interest).

I'm in this bucket currently - flirting with $500K net worth but a shade short currently. I can't wait to be a millionaire before I grow too old & can't use most of it!

[CalligraphyArts]

You’re so brilliant! And I so enjoy your sense of humor. I’ve implemented some of your techniques and it’s reduced SO much stress. I went from “I can’t see ever retiring” to “I have a workable plan and can see retiring at 67”. Thank you and keep up this great work - you’re likely adding years to people’s lives 🙏🏽

[jamalamitchell]

Glad you said it can take a year or 2 to fully fund the EF. Timelines are important. I was thinking it takes a few months

[frederica]

Starting this now as 22yo RN! Goal is to stay at home until I finish my automated student loan overpayments, lots of thanks to no rent, if I stay consistent with this autopay idea… I should be loan free and have $10k in a HYSA before I turn 25 🙏🏾

[RandomEncounter]

The most down to earth realistic advice out there! Awesome stuff as always.

[ajluvzlondon]

Ramit! Hands down the best finance advice clip ever...I wish I'd seen this 20yrs ago though (I'm 47 now)...but thankfully have an emergency fund secured and are automating my monthly investments since this pandemic. Thank you for sharing your wisdom...

[ilyausik]

I joined Ramitme. Ended up automating everything and living a more purposeful life.

[Beautybytracilei]

Setting up sub savings accounts and automating deposits to those accounts eliminated so much stress around money! I did this many years ago, and I’ll admit, the first year was tough. I was still having to pay all the bills, but also deposit the amount needed monthly into the savings account. But the next year, when I had everything fully funded, was so beautiful. I do this for things like my HOA (billed annually), car insurance, gift fund, emergency fund, household repair fund, vacation fund, etc. Because it is automated, and because a set amount is set aside monthly, we no longer have to think about these things as they come up. I adjust the amounts set aside as I see the need, but the adjustments are usually small and manageable. The best part is that having a substantial emergency fund eliminates living paycheck to paycheck. There is real peace in knowing you have enough set aside to weather 6 months (or more) of no income. It may take a while to get there, but it is so worth it.

[pinkandsparkly]

I've been obsessively watching financial videos every single day for the last month and this is one of the best I've seen so far. Thank you for this.

[Abby-llyw]

Thank you Ramiro! What are your thoughts on the economy currently. There’s a lot of doom and gloom being predicted. Would love to hear your take on this! ❤

[jfcjic]

these example numbers are so real for me!

[lishabarrett]

This is truly the way to create financial stability and wealth. I can’t stress enough the importance of an emergency fund. Thanks for sharing this important info, Ramit!

[CryptowithJAMESHub]

I squirelled away cash for a rainy day, but with inflation pouring down, it feels more like a leaky bucket. Saving for retirement seems impossible if my money keeps losing value faster than I can earn it.

[michaelanthonygutierrez]

Thanks Ramit. I will never forget your chicken wing lesson😆 your content is amazing

[LeanneCFP]

Thank you for taking the time to create such great content.

[chocOneOOne]

I don't know why people hate on Ramit so much, but eat the shit Ramsey says right up, he's pretty simple in his advice that most noobs to budgeting could follow.

[thepjpantsearner]

This is such a great video so mich info thank you