Just finished reading this book 2nd time. first time I read this two years back (almost). At that time I was less aware about few things. but, today this book made more sense about finance and how rich becomes more rich. This books is more about practical approach with a nonjudgmental style of personal finance.
here are few key learning from book –
First you need to figure out What Rich mean to you?
The definition varies for everyone. so it’s really important to figure out first. the definition may change as you move ahead with life. but, looking at your current condition what is the definition of rich to you? Then you will able to understand what you need in life, where you can cut things down where you can increase.
Think about MACRO not MICRO
- Automate your money from saving to investing
- Always work on credit score.
- Use credit cards to get free cashback and rewards.
- Pay off your credit card debt.
- Cancel your subscriptions and instead buy monthly.
- Focus on cutting your costs in a few problem areas.
- Negotiate a raise.
- Do freelance work.
- Buy a house that you can afford.
- Allocate your finance wisely
Work on your Money buckets
Ramit talk about 4 money buckets that you should work on
- Fixed costs
- Investments
- Savings
- Guilt-free spending
Try to figure out how much you are allocation in each category and try to improve as you go ahead.
Apart from it this book more talk about how to use credit card and create your automated system which I found really boring tbh. because we already know that stuff.
If you don’t know here is the video
21 ways to make $10 in 2021 | Easy way to make $10 on Internet – YouTube
