My parents raised me to be very conservative with spending because we grew up poor, and that caused me to be a penny pincher. Even up until last year. It wasn't actually until I went on vacation in Europe, where everything was expensive, and watching your videos (as well as a few other finance tubers), that I started to change my penny pinching ways and spend a bit more on myself on the things I care about (mostly high-quality groceries and some hobbies). This was helpful in letting me re-evaluate some things.
I had a breakthrough listening to one of the money scripts you described. Thank you for your channel, it has helped me very much. I wish I understood the invisible scripts sooner instead on the brink of retirement. Better late than never!
My script was basically twofold. One I thought the only way to be successful was to own a house or at least condo. As I saw housing go up faster than my income I told myself I'd never be able to afford a house where I wanted to live. So those two combined and led to "I'll never be able to afford a house so I mind as well drive a nice car" So instead of saving and investing I have been on the buy/drive/trade in/upgrade treadmill for probably 20 years. I watched Ramits Netflix special when it came out, read the book shortly after. Ever since then I feel so much better about money and my ability to retire one day. I still have plenty of work to do. But having a plan and a direction has taken so much weight off my chest.
Exactly what I needed this morning Ramit. We make nearly 300k a year and my rich life involves a beautiful house and yard, but I find myself stressing too much about pinching pennys. I realize I should continue to live life and the money will come and we will have enough for a down payment when it gets here. I shouldn’t stress about the $15 dog toy or $40 for a hobby I truly love. Thanks a ton and have a great rest of your week!
I feel this way too, but this feeling of motivation dies down the next day because I go back to my old scripts. "I'm going to lose or quit my job/business, expenses are getting out of hand, I need more, when will I have enough...?"
As I am listening to this episode, I get reminded about a book that I read many years ago that made me rethink my relationship with money. It’s written by a financial adviser (Buddhist too) called George Kinder. The book is called “The seven stages of money maturity”. Highly recommend it as it touches upon the points Ramit is making here.
- What did I learn about money from my parents? - From my parents I learn the power to saving, my father said, the tiger not always hunting, It’s a invitation to save today because tomorrow maybe I don’t earn the same money. - How has that helped or hindered me? - This thoughts helped me to be a saving person, but with the time I know that saving isn’t a good way to be rich, we need to invest our money to be rich. - What do I want to do differently? - With the Ramit’s book I learn more about how to create a rich live, how to find the way to enjoy my rich live, automating my finance to live out the spreadsheet and spend this time with my family.
As a lifter who grew up skinny i can totally relate to what you said. Like don mazzi from broscience said "the day you started lifting what the day you became forever small because you will never be as big as you wanna be".😂
Super impactful video and actionable strategy - thank you for sharing info on this super important part of personal finance that is overlooked most places! Reading your book and listening to your content has really helped me on my journey. While I grew up with overall neutral/ positive views of money, it was not an abundance mindset and had a lot of class insecurity (despite financial security) passed down. Took me yesrs to start to feel comfortable around what I now consider peers and feel comfortable having similar lifestyles rather than constant imposter syndrome
“DO YOU LOVE YOUR PARENTS?! Then buy DeleteMe” A little heavy handed there brother. Rolling your sponsor into the video concept/flow is usually fine, but that left a bad taste in my mouth
Actually one of the things I’m super insistent with my family is this kinda stuff…we have already dealt with scams by people getting my parents info online. So, yep, I care about my parents so keeping their info confidential is super important to me
I love how Ramit uses psychology, patience and understanding with people. He tries to help them understand WHY they are failing and lead them in a better direction. Guys like Dave Ramsey and Caleb Hammer just try to make people feel like shit about their mistakes and tell them beans and rice for 5 years is the only way out.
We grew up poor with me having to drop out of school to work. I subsequently returned and graduated high school and later college. Due to the scarcity and instability of my upbringing I bought my first home (one of those no down payment loans) at 22 which was a financial hardship. If I could go back in time I would tell my old self to rent, invest and enjoy life and that homeownership does not define success or stability.
I used to tell myself I wasn't good with finances. Sure, I could avoid debt but I didn't know anything about investing. Then I got the best advice from my cousin. He works at one of the big finance companies, and I asked him if I should hire a financial advisor to help me. He said I was smart enough to do it myself. By golly, he was right. I had to read lots of articles and books and listen to many podcasts, but I've completely changed the way I view money. Thanks, Parker, and thanks, Ramit, for all your lessons.
Just want to say I was really into Dave Ramsay but I’ve found your channel and think it fits my motion a bit better as a 31 year old looking to enjoy life and expand wealth - keep it coming!
@@ramitsethi I mean, I'm highly specialised in healthcare in the UK. The salary is "pretty good" by UK standards but that's not saying a lot in the current climate. The pay is determined by the government. Options are stay where I am but improve money management skills which I am doing (with the help of a side hustle), move up a salary band which may require either patience or relocating, or career change but figure out how my very specific skills could be transferred.
amazing video like . All your tips authentic and they work if applied i recommend his book entitled I WILL TEACH TO BE REACH to everyone. After reading you will enjoy your lifey your money and star thinking BIG
My parents raised me to be very conservative with spending because we grew up poor, and that caused me to be a penny pincher. Even up until last year. It wasn't actually until I went on vacation in Europe, where everything was expensive, and watching your videos (as well as a few other finance tubers), that I started to change my penny pinching ways and spend a bit more on myself on the things I care about (mostly high-quality groceries and some hobbies).
This was helpful in letting me re-evaluate some things.
I had a breakthrough listening to one of the money scripts you described. Thank you for your channel, it has helped me very much. I wish I understood the invisible scripts sooner instead on the brink of retirement. Better late than never!
His book 'I will teach you to be rich' is amazing and is changing my life.
Thank you for reading!
My script was basically twofold.
One I thought the only way to be successful was to own a house or at least condo.
As I saw housing go up faster than my income I told myself I'd never be able to afford a house where I wanted to live.
So those two combined and led to "I'll never be able to afford a house so I mind as well drive a nice car"
So instead of saving and investing I have been on the buy/drive/trade in/upgrade treadmill for probably 20 years.
I watched Ramits Netflix special when it came out, read the book shortly after. Ever since then I feel so much better about money and my ability to retire one day.
I still have plenty of work to do. But having a plan and a direction has taken so much weight off my chest.
Exactly what I needed this morning Ramit. We make nearly 300k a year and my rich life involves a beautiful house and yard, but I find myself stressing too much about pinching pennys. I realize I should continue to live life and the money will come and we will have enough for a down payment when it gets here. I shouldn’t stress about the $15 dog toy or $40 for a hobby I truly love. Thanks a ton and have a great rest of your week!
also please run the numbers on that house. which ramit also has a video for lol
I feel this way too, but this feeling of motivation dies down the next day because I go back to my old scripts. "I'm going to lose or quit my job/business, expenses are getting out of hand, I need more, when will I have enough...?"
Not Ramit posting the gym thirst traps 😂. J/k great video as usual and wonderful message. Keep it up.
As I am listening to this episode, I get reminded about a book that I read many years ago that made me rethink my relationship with money. It’s written by a financial adviser (Buddhist too) called George Kinder. The book is called “The seven stages of money maturity”. Highly recommend it as it touches upon the points Ramit is making here.
- What did I learn about money from my parents?
- From my parents I learn the power to saving, my father said, the tiger not always hunting, It’s a invitation to save today because tomorrow maybe I don’t earn the same money.
- How has that helped or hindered me?
- This thoughts helped me to be a saving person, but with the time I know that saving isn’t a good way to be rich, we need to invest our money to be rich.
- What do I want to do differently?
- With the Ramit’s book I learn more about how to create a rich live, how to find the way to enjoy my rich live, automating my finance to live out the spreadsheet and spend this time with my family.
Yep, I feel good about buying my holiday themed, beautiful crocs :)
😂
As a lifter who grew up skinny i can totally relate to what you said. Like don mazzi from broscience said "the day you started lifting what the day you became forever small because you will never be as big as you wanna be".😂
Reps for Jesus!
My parents were very generous and they didn't have a lot. ❤❤❤
Super impactful video and actionable strategy - thank you for sharing info on this super important part of personal finance that is overlooked most places!
Reading your book and listening to your content has really helped me on my journey. While I grew up with overall neutral/ positive views of money, it was not an abundance mindset and had a lot of class insecurity (despite financial security) passed down. Took me yesrs to start to feel comfortable around what I now consider peers and feel comfortable having similar lifestyles rather than constant imposter syndrome
💯 need this video, I’m going to listen to this weekly for motivation 🙏🏿😊🙏🏿😊
Why did I imagine the Obi-wan Kenobi meme, where he says, "of course I know him, he's me!" when this video first started? haha
It is all about the mindset.
The hardest thing about investing is starting. There's always a reason not to. Same with working out, eating healthy, learning something new, etc.
I agree with other comments, no need for background music
A Question opens your mind, a Statement closes your mind.
FANTASTIC
Brilliant video!!
With DeleteMe, will I stop getting junk snail mail everyday?
No, but you can use Optoutprescreen for that
Brother! Im reading your book. What an amazing read! Hats off!
Don't be a slave to money.
This cat loves blueberries and lattes 😂
“DO YOU LOVE YOUR PARENTS?! Then buy DeleteMe”
A little heavy handed there brother. Rolling your sponsor into the video concept/flow is usually fine, but that left a bad taste in my mouth
Actually one of the things I’m super insistent with my family is this kinda stuff…we have already dealt with scams by people getting my parents info online. So, yep, I care about my parents so keeping their info confidential is super important to me
Too smooth, too slick. Very little useful information. Great sales skills though
They should’ve thought of a better name than “Delete Me” that is TH-cam/internet code phrase for……
Lol
1st
You are indian
Straight up teaching therapy skills of thought challenge, thought diffusion, and dialectic statements; I love it
I love how Ramit uses psychology, patience and understanding with people. He tries to help them understand WHY they are failing and lead them in a better direction.
Guys like Dave Ramsey and Caleb Hammer just try to make people feel like shit about their mistakes and tell them beans and rice for 5 years is the only way out.
We grew up poor with me having to drop out of school to work. I subsequently returned and graduated high school and later college. Due to the scarcity and instability of my upbringing I bought my first home (one of those no down payment loans) at 22 which was a financial hardship. If I could go back in time I would tell my old self to rent, invest and enjoy life and that homeownership does not define success or stability.
I loved the look on the car sales person’s face when we said, “No financing. We’re paying cash for it.”
Bad move...compounding interest on that lump sum would have served you better.
That's great! I'm working towards that as well, did you have to use your SSN when buying in cash?
@@gnd111The loan would have been 7.something in interest. To me, it was worth it to pay for it right away.
@@Money_ChefI don't see it on my paperwork. Just had to give my drivers license number.
@@gnd111 5 years ago youd be right , when apr was 1-2% , but now apr are 5-9% ... You're better off paying cash at that point
Loved listening to this! Thanks for the content.
I used to tell myself I wasn't good with finances. Sure, I could avoid debt but I didn't know anything about investing. Then I got the best advice from my cousin. He works at one of the big finance companies, and I asked him if I should hire a financial advisor to help me. He said I was smart enough to do it myself. By golly, he was right. I had to read lots of articles and books and listen to many podcasts, but I've completely changed the way I view money. Thanks, Parker, and thanks, Ramit, for all your lessons.
Dear Ramit, could you please, re watch your content and re write your invisible scripts. See yourself paying for phantom cost.
I’m a financial planner and I still recommend all my friends and family to read your book first before asking me about money. Good stuff!
Thanks for sharing!!
This is awesome
Great information about money Psychology. thank you!
PLEASE help. I have no idea as to how to grow my money. single mom working 2 jobs with little to show. Have no idea as to how to invest...
Read his book- I read his book and even though I was on a low salary $30k I made sure to invest $50-$100 every month into my retirement
Definitely read his book, “I will teach you to be rich”
watch Ramit's video called "Here's My Playbook". He breaks it all down. Gradual improvement. You will make it!
Just want to say I was really into Dave Ramsay but I’ve found your channel and think it fits my motion a bit better as a 31 year old looking to enjoy life and expand wealth - keep it coming!
as someone who makes 6figures , you're damn right im thinking about blueberry prices , 6 figures aint what it used to be !
One of the hardest things I have ever had to do is face my money scripts, they run DEEP
Every video I see on this topic, we're told to "ask for a raise." Asking for a raise isn't a thing in many jobs. The pay is the pay.
That's true. If that's your situation, what are your options?
@@ramitsethi I mean, I'm highly specialised in healthcare in the UK. The salary is "pretty good" by UK standards but that's not saying a lot in the current climate. The pay is determined by the government. Options are stay where I am but improve money management skills which I am doing (with the help of a side hustle), move up a salary band which may require either patience or relocating, or career change but figure out how my very specific skills could be transferred.
Yes! Awesome response. You have lots of options. I love that you laid them out like that. Congrats on your side hustle, btw.
@@ramitsethi thank you. I appreciate you.
This has been very insightful
Your videos are one of the first things I listen to in the morning. It makes a good start of the day
I loved it! Keep making videos like this, you’re the best!
amazing video like . All your tips authentic and they work if applied
i recommend his book entitled I WILL TEACH TO BE REACH to everyone. After reading you will enjoy your lifey your money and star thinking BIG
omg, do you ever vacuum? Or is it not dust on your mic?😅
Dude prob has a live in maid
I’ve noticed it as well! Wish it would go away.
Wow Ramit with guns in the small pic 💪🏾💪🏾💪🏾
Thank you!!
Thank you ❤