Name: お金持ちになる方法を教えます！｜金持ちの生き方| お金持ちになる方法を教えます (I Will Teach You to Be Rich! | How to Live a Rich Life)
Uploaded: 2021-01-14T11:20:04.000Z
Duration: 14 min 48 s
Description: VoiceTubeの動画で発音を聞きながら英語表現を覚えよう！学べる英語：

様態の副詞

Ramit Sethi's I Will Teach You to be Rich is a wildly popular personal finance book,

These are the key points you need to know to be on your way to financial freedom and

Since my last year of medical school, I began a deep dive in personal finance and investing.

I only wish I did so sooner, and that's why we're covering I Will Teach You to Be

Rich — so you can get a jump start on your own financial wellbeing.

As with all of my book summaries, which you can find on my book summary playlist, I'll

be covering the author's main points, but also adding some of my own commentary.

There's a lot that I cannot cover in a brief video, so if you'd like to read the entire

book, you can find a link in the description.

For many domains in life, whether weight loss or finance, people focus on the smaller details

and obsess over 1 percent here and 2 percent there, missing the bigger picture of setting

In weight loss, people focus on the minutiae of avoiding carbs or the benefits of apple

cider vinegar rather than the bigger picture of caloric intake versus caloric expenditure.

Similarly, with finances, people get caught up with what the experts are predicting or

what's the hottest stock, rather than the basics like automatic saving and investing

By debating these minor points, people are absolved of responsibility in needing to actually

As Ramit says, “Just as you don't have to be a certified nutritionist to lose weight

or an automotive engineer to drive a car, you don't have to know everything about

I'll repeat myself: You don't have to be an expert to get rich.”

As I've said before on this channel, facts are more important than your feelings, and

If you feel bad or shameful about your piss poor money management, our job isn't to

make you feel better, but rather to tell you the truth so you can actually get a handle

I love that he ruthlessly cuts at the rising victim culture.

You know the type — they're all around.

Rather than actually working on fixing their situation, they find it easier to be cynical

And if you point out how to help them or the logical fallacies in their self-victimizing

They don't want results, they want an excuse not to take action.

At the end of the day, it's entirely up to you.

You can be a victim and complain about politics or the economy or boomers, or take control

“Listen up, crybabies: This isn't your grandma's house and I'm not going to bake

A lot of your financial problems are caused by one person: you.

Instead of blaming circumstances and corporate America for your financial situation, you

need to focus on what you can change yourself.”

Some people think credit cards are inherently evil — but remember, black and white thinking

Sure, credit card companies can make a lot of money at your expense, but that's only

If you use credit cards properly, they actually offer massive benefits, from cash back or

points for travel, to warranty extension, fraud protection, and even helping you automatically

The key is that you need to pay them off in full every month.

If you don't, you're a sucker paying 14% or more in interest.

If you have a balance on your cards right now, work aggressively in paying it off as

You can even call the company to negotiate a lower APR.

Ramit has a script of how to do so in the book.

Credit cards are about more than just these perks, though.

They're also a fundamental way to build good credit, meaning a high FICO score, which

essentially tells lenders how risky it would be to lend money to you.

Strong credit can save you boat loads of money in the future by helping you secure better

loans on your future purchases — whether that be a car, a home, or even refinancing

Here are some guidelines to credit card usage: Pay your credit card regularly — not only

to avoid interest, but also to build your credit score.

For an annual fee on a premium credit card, you may want to downgrade with a product change

Keep cards for as long as possible, as a longer history of credit improves your score.

For this reason, set up automatic payments or subscriptions services on old credit cards

Otherwise, they may be shut down due to inactivity.

That means either spending less on your card, or getting more credit.

But only get more credit if you're debt free.

There are two additional methods of more advanced credit card usage: zero percent transfers

The zero percent transfer game is when you open up a credit card that has an introductory

0% APR for balance transfers or cash advances.

People take this money for 6 months, or however long the terms are, stick it in a high yield

savings account, and then plan to return the money that they borrowed and pocket the interest.

This is a silly game with a poor risk profile.

Very minimal upside, but a potential for substantial downside.

As Ramit says, “this is a distraction that gets you only short-term results.

You're much better off building a personal finance infrastructure that focuses on long-term

growth, not on getting a few bucks here or there.”

I agree with Ramit on zero percent transfers, but I disagree with him on the topic of credit

He writes it off as something that's too risky and too complex to be worthwhile.

And I actually completely understand why he stated this in his book and I don't blame

him — after all, he's writing to a broad audience.

If not carefully executed, credit card churning can leave someone in a much worse off financial

But the upside is also much greater when executed properly.

I've spoken about how credit card churning has saved me tens of thousands of dollars

on my credit card churning playlist on my personal channel.

For the average consumer who likely has credit card debt, Ramit's advice makes a lot of

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お金持ちになる方法を教えます！｜金持ちの生き方| お金持ちになる方法を教えます (I Will Teach You to Be Rich! | How to Live a Rich Life)

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