Personal Finance: In Theory And Practice

It’s about time I start putting some of what I learned in Ramit Sethi’s I Will Teach You To Be Rich into action. In order to keep myself more honest, I plan to blog about my experiences. If that’s helpful to anyone, it’s all the better. These posts will come at various points throughout the year. They will highlight what I’ve learned and how I am applying it, challenges I face along the way, and my successes and failures. They will also include my commentary on how well or poorly Ramit’s techniques work and whether I’ve discovered any useful insights about putting his techniques into practice.

11 thoughts on “Personal Finance: In Theory And Practice

  1. Nice. I just finished the book today and thoroughly enjoyed. I went into the AZ credit union to apply for a credit card to start building some credit but they credit check basically reported back that i didn’t exist. So we’ll see what I can do there. Anyway, are you planning on sticking to his provided action steps or striking out on your own plan?

    • I’m pretty much sticking to his plan with minor adjustments to it as necessary to fit my situation. For example, I have a large amount of student loan debt that will affect my conscious spending plan.

      Edit: Oh hey, Phil. The AZ reference didn’t click, and I didn’t realize who this was at first! I’m glad you read and liked the book. Sadie started reading it, but it started to stress her out since she is currently unemployed. Good luck with all the steps. Let me know how it goes. I would think you have some sort of credit (and that you exist :P), but either way, you’re making money, so it shouldn’t be impossible to get a credit card even if the APR is terrible. If your credit is low or non-existant, I think he has some recommendations in the book, such as checking out bankrate.com for cards with minimal credit requirements. Just pay it off every month and you’re credit score will grow quickly.

      Off topic: Ramit now also promotes his Earn1k course. (It’s online material to help you get started earning money on the side.) One of his success stories that I read recently is a client who lives in the southwest US and teaches wilderness training and survival to students and tourists. That reminded me of something I could see you doing for some reason. Anyway, I hope you guys are having fun out there! Say hi to Ali for me!

  2. This is so interesting! I don’t think you’ve taken into account what happens day to day, but I still think you make a lot of sense.

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