34 Quotes from I Will Teach You to Be Rich book by Ramit Sethi

Hello friends. This post is a collection of quotes from the book - I Will Teach You to Be Rich by Ramit Sethi.

I Will Teach You to Be Rich has been described as a book that taught a generation how to earn more, save more, and live a rich life.

Introduction Quotes

Most of us fall into one of two camps regarding our money: We either ignore it and feel guilty, or we obsess over financial details by arguing interest rates and geopolitical risks without taking action. Both options yield the same results - none. - I Will Teach You to Be Rich, Introduction

People love to argue minor points, partially because they feel it absolves them from actually having to do anything. You know what? Let the fools debate the details. I decided to learn about money by taking small steps to manage my own spending. - I Will Teach You to Be Rich, Introduction

If you want to be a passenger in life, fine - go with the flow. I've found it's a lot more fun to be the captain of my own ship, even if I go off course sometimes. - I Will Teach You to Be Rich, Introduction

Cynics don't want results; they want an excuse to not take action. Ironically, even if they win their own manufactured argument, they lose overall, because they're stuck in a prison of their mind. - I Will Teach You to Be Rich, Introduction

Our culture stigmatizes being average. Who wants to have an average relationship? Or an average income? Financial firms have weaponized that fear of average: They suggest it's bad to be average, that it's boring, and that you can do better. […]The truth is, you likely can’t beat average returns. […] In investing, average is great. - I Will Teach You to Be Rich, Introduction

Investing should be very boring - and very profitable - over the long term. I get more excited eating tacos than checking my investment returns. - I Will Teach You to Be Rich, Introduction

Once money isn't a primary constraint, you'll have the freedom to design your own Rich Life, which will almost certainly be different from the average person's. Embrace it. This is the fun part! - I Will Teach You to Be Rich, Introduction

Chapter 1-3 Quotes

Credit cards give you thousands of dollars worth of perks. If you pay your bill on time, they're a free short-term loan. […] Credit cards are also convenient enemies. Almost everyone has a bad story about late fees, unauthorized charges, or overspending. The truth about credit cards lies somewhere between these two extremes. As long as you manage them well, they're worth having. - I Will Teach You to Be Rich, Chapter 1

When it comes to student loans and credit cards, my goal is for you to stop playing defense. I'm going to show you how to play offense instead. For student loans, make an aggressive plan and minimize the amount of interest you pay. For credit cards, I squeeze every single benefit out of them. Basically I want the credit card companies to hate you, as they hate me. - I Will Teach You to Be Rich, Chapter 1

Our largest purchases are almost always made on credit, and people with good credit save tens of thousands of dollars on these purchases. Credit has a far greater impact on your finances than saving a few dollars a day on a cup of coffee. - I Will Teach You to Be Rich, Chapter 1

If you find yourself swamped with the number of cards you have, close the inactive ones. As long as you have good credit, the long-term impact will be minimal and you'll sleep easier at night with a simple financial system you can easily keep track of. - I Will Teach You to Be Rich, Chapter 1

Your credit card automatically tracks your spending, making it easy for software to download and categorize your expenses. For these reasons, I put almost all my purchases on a credit card - especially the large ones. - I Will Teach You to Be Rich, Chapter 1

Many people don't know that credit cards offer excellent consumer protection. This is one reason I encourage everyone to make major purchases on their credit card (and not use cash or a debit card). - I Will Teach You to Be Rich, Chapter 1

Paying the minimum amount on your credit card is the grown-up equivalent of a little boy letting the school bully take his lunch money on the first day of school, then coming back with his pockets jingling every single day afterward. Not only are you going to get your ass kicked, but it's going to happen again and again. - I Will Teach You to Be Rich, Chapter 1

I absolutely hate when sophisticated financial firms take advantage of people who don't understand the complexity of these financial products. - I Will Teach You to Be Rich, Chapter 2

Now that I've set up my investing accounts and automated them, the amount I earn from one year of investing is worth more than 500 years of interest in a savings account. You heard that right. Don't worry about micro-optimizing your bank account interest rates. Just pick great bank accounts and move on. - I Will Teach You to Be Rich, Chapter 2

People have peculiar beliefs about risk. We worry about dying from a shark bite (when we should really worry about heart disease). When there's a sale on eggs or chicken, we're happy - but when the stock market gets cheaper, we think it's bad. - I Will Teach You to Be Rich, Chapter 3

Although some people are limited by circumstances, most people will never get rich simply because they have poor attitudes and behaviors about money. - I Will Teach You to Be Rich, Chapter 3

This is the predictable outcome when a low-cost provider raises venture capital and needs to grow rapidly. It either finds more customers or finds a way to make more money from each customer. - I Will Teach You to Be Rich, Chapter 3

Chapter 4-6 Quotes

Unfortunately, most Americans were never taught how to consciously spend, which means cutting costs mercilessly on the things you don't love, but spending extravagantly on the things you do. - I Will Teach You to Be Rich, Chapter 4

I believe that if you get the Big Wins in life right, you'll never have to worry about the price of lunch. Better yet, you won't even have to put "worry" and "guilt" in the same sentence as "money." You'll have guilt-free money that you can spend on anything you want. And not just a sandwich. Unforgettable vacations, amazing gifts for your family, security for yourself and your family - you decide. Guilt-free. - I Will Teach You to Be Rich, Chapter 4

Whether you're implementing a change in your personal finances, eating habits, exercise plan, or whatever ... try making the smallest change today. Something you'll hardly notice. And follow your own plan for gradually increasing it. In this way, time is your friend, because each month gets better than the one before it, and it adds up to a lot in the end. - I Will Teach You to Be Rich, Chapter 4

I don't know about you, but I plan to do less and less work as I go through my life. When I meet people on a career path that will have them working more, not less, I'm always puzzled. That's like being a real-life Mario Brother, where every level you beat means your life gets progressively more difficult. Why would you want that? - I Will Teach You to Be Rich, Chapter 5

Money exists for a reason - to let you do what you want to do. Yes, it's true, every dollar you spend now would be worth more later. But living only for tomorrow is no way to live. - I Will Teach You to Be Rich, Chapter 5

There's more to money than just extravagance. You can also use it to create memories and experience true joy. - I Will Teach You to Be Rich, Chapter 5

It takes strength to know that you're basically getting shares on sale - and, if you're investing for the long term, the best time to make money is when everyone else is getting out of the market. - I Will Teach You to Be Rich, Chapter 7

Chapter 7-9 Quotes

When people say investing is too risky, it's because they don't know what they don't know. - I Will Teach You to Be Rich, Chapter 7

Remember that life is lived outside the spreadsheet. Be as aggressive as you want with your goals - dream bigger than you ever thought! - but remember that money is just a small part of a Rich Life. - I Will Teach You to Be Rich, Chapter 7

Whenever taxes come up, you're going to hear a lot of nonsense. Take note of it. Analyze it critically. And make your own decisions. - I Will Teach You to Be Rich, Chapter 8

For me, a Rich Life is about freedom - it's about not having to think about money all the time and being able to travel and work on the things that interest me. It's about being able to use money to do whatever I want - and not having to worry about taking a taxi or ordering what I want at a restaurant or how I'll ever be able to afford a house. - I Will Teach You to Be Rich, Chapter 9

Talking about money with your partner might sound awkward, but I promise you it doesn't have to be painful. As corny as it sounds, it can actually bring you closer together - if you know what to ask and you stay calm. - I Willl Teach You to Be Rich, Chapter 9

Fundamentally, there are two ways to get more money. You can earn more or you can spend less. Cutting costs is great, but I personally find increasing earnings to be a lot more fun. - I Will Teach You to Be Rich, Chapter 9

Getting rich isn't about one silver bullet or secret strategy. It happens through regular, boring, disciplined action. Most people see only the results of all this action - a winnable moment or an article in the press. But it's the behind-the-scenes work that really makes you rich. - I Will Teach You to Be Rich, Chapter 9

Whatever you do, negotiate the hell out of big-ticket purchases. This is where, if you plan ahead, time can take the place of money. - I Will Teach You to Be Rich, Chapter 9

Cited Quotes

How do you think people end up with scores in the mid-800s? It's through years and years of consistently boring credit management. - FICO's Craig Watts, as quoted in I Will Teach You to Be Rich, Chapter 1

If you do build a great experience, customers tell each other about that. Word of mouth is very powerful. - Jeff Bezos, as quoted in I Will Teach You to Be Rich, Chapter 2

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