The Diary Of A CEO with Steven Bartlett Moment 148: Guarantee Financial Freedom! The 4 Numbers You NEED To Be Tracking: Ramit Sethi
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Feb 9, 2024 
Ramit Sethi, a personal finance expert, shares essential insights on managing your finances effectively. He emphasizes the four critical numbers to track: fixed costs, savings, investments, and guilt-free spending. Ramit challenges listeners to clearly define their 'rich life' instead of settling for vague aspirations. He argues that understanding these elements can lead to greater financial clarity and intentional spending. Tune in for practical advice on achieving financial freedom and living a life aligned with your true values.
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Financial Literacy
- Understand your key financial metrics, including savings, investments, and spending.
- Define your financial goals, like reaching specific dollar amounts and how you'll use them.
Key Financial Numbers
- Track four key numbers: fixed costs (50-60%), savings (5-10%), investments (5-10%), and guilt-free spending (20-35%).
- Jot down your approximate spending to benchmark yourself against these targets.
Defining Your Rich Life
- Most people haven't clearly defined their "rich life" beyond vague terms like "freedom."
- This lack of clarity often leads to financial decisions that contradict their desired lifestyle.