9 Surprising Lessons That Made Me a Multi-Millionaire

I’ve helped millions of people fix their money and in this video, I'll share 9 counterintuitive money lessons I’ve learned – so you can get a head start on building YOUR Rich Life.

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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"

[mindtheprivacy]

My guy, please get fit. You look sick.

[ccwebs]

"Rent is the maximum you will pay, a mortgage is the minimum you will pay." I am going to use this line - that's great.

[arnabchatterjee]

Counter-intuitive ideas
1. Being frugal can cost you
2. Spending more can save you more
3. Renting can be a better financial decision than buying
4. Paying your mortgage ahead of time isn't always the best decision
5. A financial advisor costs him
6. Passion alone does not pay the bills
7. Money can make you happier
8. Never make an expensive purchase based on the monthly cost
9. Managing money does not just mean tracking expenses

[TheJakobRose]

Hey Ramit! I found your videos a few months ago and they have really helped me set a financial foundation as a recent college grad. I've been able to save $2000 in 3 months and got my internet bill lowered from $110 to $23 using your methods. I am confident in my finances now and revel in the fact I have a plan moving forward. Thank you for all that you do to educate people!

[novaricos]

Dear Ramit, I had to laugh because I had a little ironing and sewing business, (along with my in home family baby and toddler-care business) lol. I found word-of mouth customers who HATED ironing and (didn't like the sums being charged by the drycleaners either !).
Thanks to my mother and grandmothers, who loved ironing dampened, fresh-from-the-clothesline -in -the -sun, shirts, pants, linen tablecloths... etc, I learned to iron to Navy Standards!, practicing 1st on my dad's handkerchiefs and graduating to pillowcases and then shirts, and similarly loved it.
I wasn't too crazy about doing pants, but my customers hated it even more, and were glad to pay ME an increased rate to do it instead! (especially those with military husbands) paid for all kinds of school expenses for my sons and some extras for all of us.
my front hall closet, where items ready to pick up were hung, made me quite a bit of money (and friends) over several years! Still love doing it.

[tinyearthcreations]

Absolutely LOVE this channel! Not only is Ramit a brilliant teacher, but he is hilarious! Love learning about money management skills in an entertaining way. 👌🏽

[LeNguyen-imdm]

I really respect this guy the way he lives and he talks. He is just a smart and honest person. All of his points make sense, reasonable, and straight to the points. Other youtube channels, people keep chatting and chatting and I stop watching in the first minute.

[vivekthiru]

I don't how I missed your video for years? I am 54 and got a new energy after seeing your videos... you are amazing and nailing the facts directly..keep enlightening us

[ajithgopinath]

Buying a house isn't always about saving money, although in the UK, it makes sense, especially if you are not living in London. To me, it is about stability, knowing that a landlord isn't going to issue a 3 months notice to vacate during the winter. I guess it is part of my 'rich life'

[azsparks]

My career has been kind of random (ecologist, urban planner, political aide, etc) but I gained a lot of skills and networking. While my current job (economic development analyst but more real estate) is not my passion, I do make a great salary and it allows me to build my financial wellness on top of mental/emotional health. Mainly because I don’t have issues with setting boundaries to improve my work/life balance. I can also enjoy guilt free spending along with paying off debt. I also rent because it’s simple.

[leonchan]

Ramit, you could be accused of being repetitive in your videos but I love it! I've learned so much from them and your podcasts. And your presentation and delivery is just refreshing. ❤

[nae]

Psychology about debt. You’re right. That’s me. And I’ll tell you what, when I set goals to, for example, pay the mortgage and do it, it turbos my other goals. It does something energetically and to the psyche.

[ey]

I really admire this man. He is so honest and natural. No fake personality or exaggerated. I wish I knew him earlier. It's never too late. I am positive 😊

[kathrynlongstaff]

I agree about the buying of a house but I am homeowner (mortgage free)and I currently rent overseas. The cost of rent is once and done, easy to predict 😅 whereas the homes we have owned have often been well over the 3% anticipated maintenance costs. I think Ramit is right about renting if you are transient, are at the top of your needs allocation of your spending or in a high mortgage cost/rates environment. In the UK, where I have my house, buying a house is almost a rite of passage. To a certain extent this conversation is all very privileged... a secure, safe and affordable roof over ones head is the goal!

[uuougrz]

I'm that spreadsheet tracking dude you talk about at the end. "What they're really doing is playing small" - damn bro that hit really hard, and is the most succinct explanation I've ever heard. Totally on point, and I needed to hear that. Tracking things has helped me gain insight, but now I've turned it into a religious practice.

[jwake]

When financial advisors tell me it's not mathematically sensible to pay off my mortgage early, they never factor in the mortgage payment I'll no longer have in their calculations. In short, it's smart to invest, and it's smart to pay off your mortgage.

[nilocable]

Hi Ramit i just want to say thank you for the conscious spending plan its really helpful. Hope u have a great day bro.

[jplebihan]

Agree with 99% of the tips... except the prepped meals. From a financial perspective, the cost of ordering prepared meals regularly adds up quickly. Most importantly if saving time is the main concern, most prepared meals contain preservatives and additives to extend shelf life, which compromises nutritional value and contributes to health concerns in the long term (even when the meals are never frozen and prepared by chefs). There's also a lot of waste associated with the packaging and transportation of these meals. A few prepped meals doesn't hurt during a busy week (we used Factor once or twice), but it's a really bad idea in the long run for finances, health, and the environment...

[sanman]

Almost finished reading your book and ready to automate my finances. Thank you Ramit! Enjoying the podcast as well, keep up the excellent work.

[jenlollygag]

I can't believe how happy Ramit looks when he's ironing... it's ridiculous 😂😂😂😂😂😂😂😂😂😂😂