A light breezy read, that is a great resource for 20 or 30 somethings and those just trying to get a handle on how credit cards work, what 'investing' means, and how to buy their first car. Definitely entry level stuff, but will be a great benefit and a financial wake-up call to Millennial Snowflakes who feel they're 'special' because Mom and Facebook told them they were, and that budgets will somehow balance themselves.
Good, no nonsense advice formatted in an approachable way. I didn't learn much I didn't already know, but the book was still useful to me: it recommended some good tools for bettering my current money management and made me consider further automating my savings plan.
Pro: easy to read - fun, not dry; pacing of information intake and application (if you apply the weekly breakdown).
Con: American point of view (IRAs and 401(k)s rather than TFSAs and RRSPs).
Loved the audiobook; very good tips - just make sure you have pen handy
So... I have subscribed to Ramit's blog for a while now and find his take on things rather pragmatic & sensible. so its no wonder that I finally ended up listening to this books.
It is a great book and I am really happy that Ramit denounces ineffective cost saving measures (read: not buying lattes or saving on groceries by growing your own vegetables) right off the bat.
I think that the fact that he did the voice for the book was helpful because it felt familiar to me from his youtube posts. Also, if I understand correctly, he writes as he speaks so its easy to understand him not just from his words but also his tone.
The target audience for this book is someone who has not spent more that an hour or two in their life to even think about retirement, maximizing your money and believe that "savings" & "retirement planning" are words right out of a terribly non-exciting fiction book - so, basically, most of us. That said, it is also equally useful for people who "know" that they should do something financially responsible (like set up Roth IRA) but but don't really know ho to go about doing that.
I am in the latter class of people. I am a foreigner who has started working in the US recently and knowing how i can set my financial system to leverage any benefits that are available to me but I do not necessarily low of is extremely helpful.
I really love how action oriented this book is. It breaks down the steps to setting up one's personal finance system across 6 weeks -and by the end of it you have a better personal financial system than most other people.
Sethi teaches readers how to automate your finances using direct deposit, automatic bill pay, and credit cards. His investing advice seems sound. For those with a history of credit card abuse, he won't be the best choice of financial adviser. Those who need details instructions on setting up a budget should start with Dave Ramsey, although Sethi and Ramsey's views on credit are polar opposites.
Books on personal finance are a dime a dozen, and since there are only so many ways to teach people how to use their money intelligently, the success of one's message depends greatly on how it is said. Ramit Sethi gets this right by bringing a fresh, youthful perspective to the conversation. His tone is often playfully arrogant, but I don't mind because it's never condescending.
Ramit is at his best on the distraction of minutiae, or more specifically, when he calls you out for being penny-wise but pound-foolish. Too often we busy ourselves with the small details of money management, kicking up a lot of dust though accomplishing very little, when the real work is being left unattended. This work is the hard work and requires a heavy dose of taking responsibility, but the results are measurable and can be lasting if you do your part.
An awesome book on finances and money management - especially for young 20somethings with no idea of how to budget their money.
Really good tips on negotiating
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