Last night, Ramit Sethi from I Will Teach You to Be Rich got together over Skype to chat about money. We spent about 90 minutes answering the questions provided by Consumerism Commentary readers last week. Ramit came up with this idea to coincide with the release of his new book, aptly named, I Will Teach You to Be Rich. This book will be released on Tuesday, and at that time I will share my review of the book and explain how you can acquire an MP3 of my conversation with Ramit.
Here are the topics we discussed in the call:
- One piece of financial advice for someone just starting out on their financial journey.
- What America can do to ensure future generations are adequately prepared to handle their finances.
- Our ideas about frugal dating.
- Sacrificing happiness in the present by saving too much for the future.
- One financial move we each made that we now most regret.
- A personal finance topic in which we don’t practice what we preach.
- Putting together a real, workable budget.
- The role of values in relation to spending.
- How one knows when he or she is rich.
- Whether a recent graduate with significant student loan debt should paying it off faster or begin saving for a house.
- Whether someone close to retirement should pay off a mortgage faster or save more for retirement.
- Credit card rewards programs, 0% balance transfers, and chasing rates to “make” extra money.
- Limiting the subconscious effects of marketing.
- Personal ethics in investment decisions.
You will be surprised at some of our answers, and I would say that Ramit outclassed me at every turn. If this sounds interesting to you, when I review the new book, I’ll explain how to download the MP3.