‘I Will Teach You To Be Rich‘ by Ramit Sethi is a book that teaches the tricks for navigating the financial landscape in the 21st century. I have just finished reading it, and I am excited to write a review blog on the book.
First of all, if I distribute the personal finance books into tiers for beginner, middle, and advanced levels, this book by Ramit Sethi will definitely fall into the category of advanced-level books. Because it won’t make sense to the beginners of the readers of personal finance.
The technical terms being discussed in the book i.e what all are the charges that bank deduct for debit card and credit cards, what are the types of loans and interests on the loans, what type of loans are the ones that are needed to be paid immediately and what can be delayed and paid in elongated periods of time, these are all the issues that are faced by the people who have to manage their money well, and not for the people who do not have money at all.
So technically, the title of the book should have been ‘I Will Teach You to Remain Rich‘ instead of ‘I Will Teach You To Be Rich’ because Ramit Sethi has talked very little about how we can make more money. A bigger part of the book is dedicated to navigating and negotiating with banks to make optimum use of the money.
I found the book very helpful in understanding the navigation skills with banks. It also taught me to get into the details of charges and deductions that are imposed on us by banks, and we often overlook those as less important aspects.
Before reading IWT, I had always considered a credit card as a very negative thing. I had been of the view that one should only spend out of the amount that he owns, i.e., debit account, and not the amount borrowed from the bank, i.e., credit account.
But, I Will Teach You To Be Rich taught me the benefits of credit cards in terms of credit score, as well as offers and discounts that are a result of a good credit score. Benefits like this can never be accrued out of a debit account.
The book would also clear the doubts of the readers that we do not need to be the masters of charts and analysis to start our investment. Starting the investment should be easy. Lack of information must not stop anyone from beginning with the investment. Not investing is causing you more loss than the possible loss that you might accrue by not making a good investment decision.
In a nutshell, the book can be termed as an advanced category personal finance book, which teaches valuable lessons regarding money management.
This review from Bookish Talks by Faizan Khan is not sponsored, and I do not profit in any way whether you make the purchase of the book or not.
If you are someone who loves to read personal finance and self-help books, i have a strong recommendation for you. Must read ‘The Diary of A CEO’ by Steven Bartlett. Clicking on the title, you will be able to read 5 significant lessons from the book that I learned from it.
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