In this engaging conversation, personal finance expert Ramit Sethi shares his actionable insights from his book, 'I Will Teach You To Be Rich.' He discusses why staying calm amidst financial turmoil is crucial but encourages proactive measures. Ramit explores survival strategies for those unemployed, highlights how to optimize savings, and explains the importance of building a robust emergency fund during uncertain times. He inspires listeners to explore new income opportunities and make savvy investment moves, even in a recession.
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volunteer_activism ADVICE
Overreact, Don't Panic
Don't panic, but overreact to financial crises.
Make deliberate decisions and commit fully, even if it means looking stupid or losing some money.
volunteer_activism ADVICE
CEO Approach for Job Loss
If you've lost your job, cut expenses, earn more, and optimize spending.
Negotiate with service providers like insurance, cable, credit cards, and even landlords for lower payments or waived fees.
volunteer_activism ADVICE
File for Unemployment
File for unemployment if you've been laid off.
Take advantage of available resources; they are there for you during tough times.
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This book, updated for a new era, provides a simple and powerful 6-week program to manage finances. Ramit Sethi focuses on behavioral psychology to help readers save more, earn more, and automate their finances. Key lessons include focusing on big wins rather than small savings, automating financial tasks, and spending guilt-free on things you love while cutting back on unnecessary expenses. The book also covers topics like crushing debt, setting up high-interest bank accounts, and long-term investing in index funds.
The shutdowns that have accompanied the COVID-19 pandemic have wreaked havoc on the global economy. Millions of people are out of work, businesses are cratering, and the stock market has tanked. Whether you've been hard hit by these effects or are so far weathering the storm yet feel uncertain about your future, what financial moves should you be making right now? To get some insight, I brought back personal finance expert Ramit Sethi, author of the book I Will Teach You To Be Rich. Since the pandemic started, Ramit has been hosting "fireside chats" on his Instagram account where he covers a financial topic pertinent to the pandemic, as well as answers questions from his community of followers.
Today we discuss some of the ideas Ramit's been hitting on during these chats as well as the common financial questions he's been fielding. I begin our conversation by asking Ramit why he tells people they shouldn't panic, but should overreact. We then dig into Ramit's advice for people who fall into different categories as to how the pandemic has affected them, beginning with survival strategies for those who are out of a job altogether. Ramit then shares the money moves people who do still have income coming in should make and why he's changed his tune on how much of an emergency fund you should have. We then discuss why now is a good time to find ways to earn more money and what investing should look like during an economic slump. We end our conversation with Ramit's advice on how to look for a job during a pandemic and what small businesses can do to adapt to the current climate.
The Art of Manliness 
