by Ian W. Parker on April 1, 2009
Allow me to clarify. I will not teach you to be rich, but Ramit Sethi might. I Will Teach You To Be Rich is the title of his newly released book which borrows the title from his web site. I’ve been following Ramit for a couple of years now, and I will admit to ignoring his solid financial ideas quite often.
He recently released his book, and I was not planning on purchasing it, until he sweetened the deal with a contest. Yes, I know. For shame. If I really liked Ramit’s writing and information, I would have purchased the book sight unseen and without any need for extra compensation. But! I was attempting to save money since I’m a helpless bibliophile.
I didn’t win anything in the contest, but I did receive Ramit’s book two days after ordering it (I love Amazon Prime). With a huge project looming and some travel in the near future, I had to set the book aside for a few days. This past weekend, I took the opportunity to finally crack it open and read it in several sittings before going to bed at night.
Ramit’s book is worth the meager price being charged. Mind you, there may not be anything revolutionary in here, but the presentation is a wake-up call that I know I need every now and again. By pointing out how costly subscriptions can be, Ramit reminded me to take a look at all of my current subscriptions.
I have a tendency to let little subscriptions creep and accrue over time. It turns out, I had almost $100 each month wrapped up in subscriptions, most of which I no longer used or used rarely. After about 20 minutes of work, all of the unused subscriptions were canceled, and I had saved more than $50 per month. There is one more subscription that I am on the fence about, and if I cancel it, I will save an additional $20 per month.
I would say that the book is paid for — and then some. Regardless of my personal experiences with it, I highly recommend it as there is plenty of advice on saving money, practicing frugality, automating your finances, investing intelligently, and generally making the act of money management a lot more tolerable. Ramit’s target audience is people in their 20s and 30s, but there is plenty to take away if you are in your 40s or 50s, too.
Weighing in at a little over 250 pages, it is a quick, witty — I laughed aloud several times while reading — book full of solid ideas and advice. If books aren’t your style, then at least take a moment to visit Ramit’s site, I Will Teach You To Be Rich. He writes excellent articles, and the community that frequents the site shares many good tips and tricks as well.