I Will Teach You to Be Rich Review

I know, a money management book I Will Teach You To Be Rich has nothing to do with blogging, and to a point your right.  But on Money Dummy, I am here to share how you can make money online, and yes mainly, I share how you can do this with a blog.

But reading a book that will save you money in your every day life, has the same benefit to you as you making extra money online.  In the end, you have more money in your pocket, and that’s what I’m here to help you do.

I liked this book for a few reasons, but mainly I like Ramits writing style, he is funny, sarcastic and straight to the point.

Ramit starts with the idea that most people are bogged down with information overload, that they just don’t do anything. IWTYTBR tells you exactly what to do with your money andwhy. Want to know whether it’s smarter to pay extra on your student loans or

put that money into your 401(k) instead? Ramit will tell you.

Ramit also tells the truth about brown bagging your lunch and curbing your coffee habit, and why it is a waste of time. Instead, he tells you how you should go after the big wins, like getting the lowest interest rate and the best price on your next car.

He maps out exactly how to get from where you are now to where you want to be financially, including how to create a personal money management system that practically manages itself. Ramit’s system starts with a no-fee checking account and an online high-interest savings account. He then walks you through setting up automatic bill payments and regularly scheduled transfers to your investment accounts.

One tip he shares, is calling your bank to get an over draft fee refunded, banks are always willing to help with that.

I Will Teach You to Be Rich contains actionable steps you can begin to follow today. Many of these tips are refreshing. Ramit also claims to be unsatisfied with the concept of budgeting, but offers a “Conscious Spending Plan:”

Here are a few things you will learn…

Optimizing Credit Cards: using credit cards as a tool for expense maintenance, protection, and building credit

Optimizing Savings: finding high-interest savings accounts with no fees while not wasting time chasing rates

Managing Expenses: using the Conscious Spending Plan to decide where your money should be going

Automating Your Money: removing human intervention allowing more of your money to work for you

Actionable tips are all over this book. In one section, Ramit includes a script for convincing a credit card customer service representative to drop a late fee. In another, he presents a detailed account of how he made twenty car dealerships compete for his business.  In yet another, Ramit offered concrete advice for negotiating a pay raise with management.

If your not a financial super star (I’m Def Not) then this book the perfect read for you, it’s simplistic and basic in it’s style, which makes it easy to follow and to Take Action!