Book Summary: I Will Teach You To Be Rich

by Ramit Sethi

Book Summary: I Will Teach You To Be Rich is a book summary of the popular personal finance book I Will Teach You To Be Rich. This summary is intended to give you an in-depth overview of key concepts and ideas of the book - I Will Teach You To Be Rich - and help you save time and money.

Genres: Personal Finance, Finance, Nonfiction, Self Help

119 pages, Kindle Edition

First published May 15, 2012

About the author

Ramit Sethi is New York Times best-selling author of I Will Teach You To Be Rich. His blog, iwillteachyoutoberich.com, hosts over 300,000 readers every month. He co-founded PBwiki and graduated from Stanford, where he studied technology and psychology. He lives in San Francisco, CA.

Reviews

[Oleksandr Golovatyi · Rating 4 out of 5]

This is a nice book to teach you how to start making extra money: optimize your credit cards, 401(k) and Roth IRA and many other ways.

[Srikar Susarla · Rating 3 out of 5]

Half the book is B.S, better to read topics instead of experience of others who listened to ramit's advice

[Katia Marie · Rating 4 out of 5]

I like his style of writing. Before his time as many other books started writing with the upfront, get over yourself style.
The book is good. I think most other popular "budget" books tell you to cut everything (talking to you Dave Ramsey) including your 401k match while paying off debt. Ramit's book is perfect for the natural spenders where its okay to spend on things, but to get rid of the stuff you dont care about.

[Alex Adkins · Rating 3 out of 5]

Read this book based off of a podcast recommendation. I think the best piece of advice that this book offers is that money is a minuscule part of living a rich life. While the rest of this book fails to truly elaborate/support that notion, it is very authentic and true. Ramit provides a ton of no-fluff finance advice. This is a very digestible book, so if like me you are financially illiterate, give it a shot.

[Aneeva · Rating 3 out of 5]

Don't judge a book by a cheesy title. This was a good entry level book for personal finance. I don't particularly agree with some of Sethis money philosophies, but overall a lot of good tips in here. A month after reading this book, I've paid off my credit card debt, got a savings account, and starting to invest. Money can kind of be a stressful thing to even think about, but the way Ramit breaks everything down, with some light humor, makes tackling personal finance less anxiety provoking.

[Rogertaboyle · Rating 3 out of 5]

Essentially a decent but unimpressive book.
The rules
1) Reduce your debt
2) Contribute to a pension
3) Save ( preferably in an ISA)
4) Buy Stocks & Shares in a Tracker Fund
5) Buy , rather than lease a car
6) Housing- In USA renting might be better than buying
7) Haggle ( like an Indian) with banks

[Kishan · Rating 4 out of 5]

A great finance book for beginners. Chances are that if you're interested in finance at all, you probably know all/most of the information you can find in this book. It was a good refresher on some aspects of finance, and I appreciated the different outlook on some of the basics of personal finance I already know.

[Natalie]

It's good. Lots of things I already knew. A couple things I didn't, like the fact that an employer match for a 401k doesn't count towards your contribution limit.

Reminders to automate a lot of your spending/budgeting/paying off things.

[Miguel · Rating 5 out of 5]

This is one the best books I’ve read on finance. Although I am okay with my credit and am in retirement. For me it was a great reinforcement that what I am doing is correct. I highly recommend this book to anyone whether they are in great or poor financial position.

[Aakash · Rating 3 out of 5]

I liked the casual tone which Ramit kept throughout the book. The knowledge he shared was very good for someone who's finance illiterate or someone who's curious to know more about it. The book is purely US centric that becomes half good for people from outside.

[Anna Squelch · Rating 3 out of 5]

Great for the US market. Not so applicable for NZ.

[Luke Drury · Rating 4 out of 5]

Very easy to read and very simple financial life hacks to be had here. Automate everything!! Very useful for a personal finance newbie.

[Dwight Cheuk-a-lam · Rating 4 out of 5]

A very good book on personal finances. This is for those who want a step by step manual on how to do things.

[Gaurav Verma · Rating 4 out of 5]

Best suggestions regarding how to control your account and debt.

[Martin Mcdevitt · Rating 5 out of 5]

Great introduction to personal finance

[Rebecca Ann · Rating 5 out of 5]

I wish I had this 30 years ago! Great practical book that I will definitely be listening to again.

[Jacob M · Rating 3 out of 5]

Don’t agree with him on everything he includes. Provides more details on how to thrive than Kiyosaki but still does not get to the meat of what it takes to be rich.

[Harshanand · Rating 4 out of 5]

Amongst a myriad of personal finance related books this is probably the most practical one I would say. I read this when I was in my grad school and was making a mere 1000$ a month. A lot of the suggestions from the book were still applicable to me. Things from choosing the right credit cards, to managing them, introducing HYS accounts to investing in index funds etc it covered all the fundamentals of personal finance and hence makes it perfect starter book to cultivate good financial habits.

[Leon903 · Rating 2 out of 5]

The author has very simplistic views on how things work.

It's hard to stay debt free if you want to go to school, buy a car or start a business. There are inevitable circumstances, like covid, illness, mental health problems, which could accrue debt.