100+ Best Ramit Sethi Quotes on Money, Business & Success

Ramit Sethi

@ramit

If something isn’t working, don’t try harder or do more. Do something DIFFERENT.

Ramit Sethi

@ramit

Real wealth is almost always created consistently over a long period of time. It’s boring, as it should be.

Ramit Sethi

@ramit

Ramit’s rule for Book Buying

If you ever wonder whether you should buy a book,

BUY IT!

Just default to buying it.

Ramit Sethi

@ramit

Make scarcity shows up in 1,000 different ways…

• Constantly checking your bank accounts
• Looking at a restaurant’s menu and immediately jumping to price (when you can afford anything)
• Repeating “We can’t afford it,” just like your parents did

Ramit Sethi

@ramit

Ever feel indecisive about how or if to spend your money?

Make it easier to decide by creating money rules.

Examples:

• If I get a raise, spend X% immediately & invest Y%
• Every June, plan for next year’s vacation
• Never worry about anything less than $20

Ramit Sethi

@ramit

I think people spend way too much time agonizing over the small money decisions and not nearly enough time on the big decisions.

Small $3 questions: Coffee, dessert, price of an Uber.

$30,000+ questions: Buying vs. renting, debt payoff, negotiating salary, savings rate, asset allocation.

Ramit Sethi

@ramit

Not everything has to be the cheapest, or the best “value”, or a great investment.

If you can afford it and it’s important to you, you can buy something because you simply want it.

Ramit Sethi

@ramit

How to simplify your finances:

• 2 credit cards
• 1 checking + 1 savings
• Simple investments
• Pick 1-2 areas to cut spending
• Pick 1-2 areas to spend MORE

Ramit Sethi

@ramit

There are a waste of time for me:

• 5+ credit cards to optimize rewards
• Searching for extra 0.1% interest
• Weekly compound interest analysis

Ramit Sethi

@ramit

Ramit’s Money Rules

1. Always have 1 year emergency fund CASH.
2. SAVE 10%, INVEST 20% of gross annual income.
3. Be able to PAY IN FULL for large expenses (wedding, dream honeymoon, house) before spending.
4. NEVER QUESTION spending money on books, appetizers, health, or donating to a friends charity fundraiser.
5. BUSINESS CLASS on flights over 4 hours.
6. Buy the best and KEEP IT as long as possible.
7. NO LIMIT on spending for health (personal trainer) or education (courses, events, etc.)
8. Earn enough to only work with people I RESPECT and like.
9. Prioritize time OUTSIDE the spreadsheet.
10. Marry the RIGHT PERSON.

Ramit Sethi

@ramit

There are 3 reasons why I don’t like budgets:

1. They look backwards instead of forwards.
2. They can drag you into the weeds of $3 questions.
3. Budgets don’t tell you where or HOW to spend your money.

Money shouldn’t make you feel stressed or worried. And it doesn’t need to keep weighing you down or become another task you put off.

Ramit Sethi

@ramit

Use your money to live a Rich Life today and a Richer life tomorrow.

Ramit Sethi

@ramit

3 Money mistakes made by $150K+ earners

1. Not adjusting the amount they save and invest.
2. Overspending on dining out and travel.
3. Not stopping to celebrate and design their new Rich Life.

Ramit Sethi

@ramit

Brutally honest guidelines for starting a business

• You don’t need to do something brand-new
• Get honest about what’s stopping you
• Success doesn’t have to be a Ferrari
• Don’t be afraid of good problems
• Embrace constraints

Ramit Sethi

@ramit

3 things to know before starting a business

1. You need to BELIEVE that you have the skills which people will pay for.

If you are unsure of your skills, text your friends and ask, “What do you think I’m good at?”

2. You don’t have to quit your job on day 1 of launching your business.

Many of my students started their businesses on the side of their full-time jobs.

3. Remember that slow and steady wins the race.

Get your mindset right going into this new endeavor. No successful businesses are built overnight!

Ramit Sethi

@ramit

5 Invisible scripts stopping you from starting a business

1. “I don’t have an idea”
2. “I don’t know where to start”
3. “It’s not a good time”
4. “I hate selling”
5. “I don’t have time to waste on something that won’t work”

Ramit Sethi

@ramit

3 steps to find a profitable business idea

1. Ask yourself, “What do I already pay for?”

“What does it feel like to pay for these things that I love?”

Now picture yourself on the other side of the table – How would it feel for people to happily pay YOU?

2. Ask yourself, “What skills do I already have?”

Write them down!

If you are unsure, text your friends and ask them, “what do you think I’m good at?”

3. Plug those skills into the demand matrix.

This helps determine which skills are more profitable.

Source

Ramit Sethi

@ramit

Ramit’s 5 rules for starting a business

1. Start small.
2. Focus on all the things that could go RIGHT.
3. Get honest about what’s stopping you.
4. If you want to start a business, put time and money behind it.
5. Embrace constraints. No expensive rent, no expensive inventory, low overhead!

Ramit Sethi

@ramit

3 tips to live your Rich Life

1. Don’t ignore your money

Whether it’s ignoring your credit card or not investing, these things are costing you dearly.

2. Have specific goals

Generic goals will not get you to where you want to be. A Rich Life is vivid and specific.

3. Shift your money mindset

Money isn’t boring, it’s fun! Start looking at money and seeing the value of what it can get you.

Ramit Sethi

@ramit

Examples of a Rich Life:

• Handing out full-size candy bars on Halloween
• Grocery shopping without considering price
• Buying a $100,000 car that you love every time you sit in it
• Spontaneously extending your vacation by a day
• Popcorn at the movies

Your Rich Life is YOURS

Ramit Sethi

@ramit

Examples of investing in yourself:

• Books
• Courses
• Conferences
• Taking someone interesting out to coffee
• Going to a party where you might meet interesting people + new friends

Ramit Sethi

@ramit

What if the American Dream really isn’t working endlessly to buy a house, commuting 1.5 hours/day, moving far away from your friends & family, & mindlessly saving money for someday 40 years in the future?

Ramit Sethi

@ramit

Spend extravagantly on the things you love.

Cut costs mercilessly on the things you don’t.

Here’s how I do it:

My Rich Life spending looks like:

1. Still driving the same 2005 Honda Accord
2. A sweater that costs more than my car
3. Sneakers with free lifetime repair
4. Buying duplicate French presses
5. Paying a posture coach to come to my house
6. Hiring a photography coach during a safari
7. Healthy meals delivered to me based on my nutrition plan

Ramit Sethi

@ramit

Focus on the Big Wins and you can avoid the next 25 years agonizing over a $3 coffee.

Ramit Sethi

@ramit

To design your Rich Life, be ready to turn down lots of common advice.

• No, I don’t need to save on lattes.
• No, I don’t need to buy a house.
• No, I don’t need to chase 5,000 cc points.
• No, I don’t need to invest in PE/VC/crypto.

Your Rich Life is yours. Develop your own philosophy!

Ramit Sethi

@ramit

5 mindset shifts that will help you Achieve a Rich Life

1. Focus on what you can control.
2. Adopt a growth mentality.
3. Spend consciously.
4. Focus on the Big Wins.
5. Earn more money.

Ramit Sethi

@ramit

5 signs you’re ready to start your own business

1. The idea of working for yourself excites you.
2. You can weather the emotional ups and downs that’ll come with entrepreneurship.
3. You dread your job – or feel stuck – and you’re ready for a change.
4. You don’t need your new business to instantly pay ALL your bills.
5. You’re interested in making your first sale.

Ramit Sethi

@ramit

Want to create your own “rich life?”

Here are 3 actionable tips to invest in a richer life, no matter where you start.

1. Define Your “Rich Life”

A “rich life” could having the freedom to travel, spending quality time with family, or investing in experiences that bring joy. Make a list and use it as a roadmap.

2. Automate to Liberate

To free up mental space and energy, consider automating aspects of your finances. Setting aside money automatically for specific purposes helps you eliminate worry and focus in living the moment.

3. Initiate Positive Money Conversations

Schedule regular discussions about finances with a sweetheart or friend, with conversations that are constructive and support each other’s aims.

Ramit Sethi

@ramit

The 85 Percent Solution: Getting started is more important than becoming an expert.

Ramit Sethi

@ramit

Spend extravagantly on the things you love, and cut costs mercilessly on the things you don’t.

Ramit Sethi

@ramit

It’s more important to get started than to spend an exhaustive amount of time researching

Ramit Sethi

@ramit

The single most important factor to getting rich is getting started, not being the smartest person in the room.

Ramit Sethi

@ramit

Frugality, quite simply, is about choosing the things you love enough to spend extravagantly on—and then cutting costs mercilessly on the things you don’t love.

Ramit Sethi

@ramit

The real lesson is: When companies—and people—show you who they truly are, believe them.

Ramit Sethi

@ramit

On average, millionaires invest 20 percent of their household income each year.

Ramit Sethi

@ramit

I once had a woman who emailed me saying, “I always tell myself I want to run three times a week, but I never go.” I wrote back and said, “What about going for a run once a week?” She replied, “Once a week? What’s the point?” She would rather dream about running three times a week than actually run once a week.

Ramit Sethi

@ramit

If you’re booking travel or eating out, use a travel card to maximize rewards. For everything else, use a cash back card. The card I use for travel and eating out is the Chase Sapphire Reserve. For everything else, I use an Alliant cash back card. And for business, I use a Capital One cash back business card. For extra benefits, I have an Amex Platinum card.

Ramit Sethi

@ramit

Fear is no excuse to do nothing with your money. When others are scared, there are bargains to be found.

Ramit Sethi

@ramit

Before you go further, I encourage you to set your goals today. Why do you want to be rich? What do you want to do with your wealth?

Ramit Sethi

@ramit

When you see an opportunity, do you immediately think of all the things that could go wrong?

What if you flipped it and thought of all the things that could go RIGHT?

Ramit Sethi

@ramit

Can you guys stop worrying about your $3 coffees and start worrying about the price of your unnecessarily gargantuan trucks?