What We're Reading: I Will Teach You to Be Rich
This book was read by Courtney Bippley, Main Campus Reference Librarian and Library podcaster.
Title: I Will Teach You to Be Rich, Second Edition
Author: Ramit Sethi
Genre: Self-help/Personal finance
Read Great Things Challenge 2021 Categories: A book that will help with your self care, A book recommended by a Durham Tech Library staff member, Choose your own category (Personal finance book).
Summary: From iwillteachyoutoberich.com- Not just another boring, personal finance book. You don’t have to be perfect to be rich. Or the smartest person in the room. Or a type-A personality. In fact, with Ramit Sethi’s six-week program to financial independence, you can start with any amount of money, do just 85% of what he suggests, and succeed brilliantly through good times and bad.
Why did you choose to read this book?
This book was recommended by Larry Chapman, the financial coach at Durham Tech. I interviewed him for the library podcast, Out Loud in the Library, and he mentioned it during the interview. After that I started following the author on Instagram and generally liked what he had to say. So, I bought the book.
Listen to that podcast episode now!
What did you like about it?
I liked that he gave specific examples and concrete advice. A lot of money advice is generally "spend less than you make" kind of advice. I'm not interested in someone telling me that if I stop buying coffee I could afford a house. I'd rather a list of banks to avoid using because they treat their customers badly.
This book tells you exactly what to do, and why. You're also encouraged you to think about what makes you happy, and to spend money on whatever that is. After you pay yourself, your bills, and fixed expenses, buy that fancy peanut butter you love so much! (It's Big Spoon Roasters in Durham, NC. The carrot cake flavor will change your nut butter life. Trust me.)
What feeling did the book leave you with?
More confident about calling and asking for reduce fees on things. There are word for word scripts in the book and I intend to use them. I also feel empowered to tackle some other personal finance related things that have been on my to-do list for a while.
Did it remind you of any other book?
The author really emphasizes creating automated systems and habits. This reminded me of some things I'd learned when I read Atomic Habits and The Power of Habit. Habit is better than intention or motivation for getting things done so applying that to money made sense to me.
Who would you recommend the book to?
Anyone who feels even a teeny tiny bit lost when they think about bank accounts, credit cards, credit scores, debt, or retirement. There is so much packed into this book that I'd challenge anyone to not learn at least one thing.
What would you pair this book with?
A low fee target date fund and avocado toast.
Read I Will Teach You to Be Rich on the Libby app or in your browser through the Dogwood Digital Library!