Money Habits: How to Create a Rich Life with Ramit Sethi and lewis Howes

[@MetalGuzzler]

Ramit sethi is a genius! He speaks truths which are practical. We are not machines. We are beings that want experiences and want to be engaged.

[@ExtraordinaryLiving]

Ref 34:44 - "... if you want to live the life of greatness, you need to be comfortable with making different choices than what other people expect." This is *the BEST wisdom* in this vid. In fact, this is *the best principle that is articulated in this entire channel* ! I've been living this principle this past decade of my adult life, and I tell y'all, it ain't easy. *It is not easy making choices that other people don't expect, don't understand, and/or don't approve* !

[@hearthealthyhustlebyjonath7414]

be comfortable getting uncomfortable!

[@ImWORTHITINC]

"If you wanna live the life of greatness, you have to be comfortable with making different decisions that what other people expect" BOOM! Thanks, Ramit~!

[@TIG2MAN0]

I just posted a similar reply as you, after I hit post I read yours. Its awesome that people are thinking the same thing!!!!!

[@ImWORTHITINC]

@@TIG2MAN0GREAT MINDS THINK ALIKE!! YOU'RE WORTH IT, MY FRIEND!!

[@giuliatraverso-breakingthi7003]

Another great interview! I’m blessed enough to have no debt and 50k savings invested in the market at age 28. I rent, just a room and not a whole apartment to keep my spending low. But I pay for private language courses, a luxury gym with spa and I weekends gateway once a month. And now I know that keeping my house costs so low (1/6 of my net income) was the best choice ever! Thank you!

[@No1reallydies]

Giulia Traverso - Breaking Thirty good job keep it up

[@cheezybred]

Keep it up rockstar!

[@thebestthingthatneverhappe6729]

nice tradeoff less housing costs for more luxury experiences

[@ayushshahi6147]

Hi giulia traverso how are you? I am really inspired by your plan means how you saved 50 k and invested in market live good life.

[@jyotijoshi2779]

👏🙏🏽🙏🏽🙏🏽🙏🏽🙏🏽👍🙏🏽🙏🏽

[@rowddyone3570]

I think Ramit changed our lives , after listening to this book at age 35 I opened my husband and I Roth IRAs and we are maxi by both out. Thank you

[@SoCalLoanMatchmaker]

I like this guy, everything he says resonates highly with me, especially our "personal money dial" and "being comfortable making different choices than what other people expect" because "so many of us are looking for somebody to approve of us", WELL DONE Ramit!

[@troy_klongerbo]

This was awesome and should have been 3+ hours. Thank you, Lewis! I read Ramit's book back in 2015 and it was incredible. Pairing that with Dave Ramsey podcasts, and reading The Millionaire Next Door, it set a framework for how I am thinking about money on a daily basis. Thank you for posting! But speaking of Dave Ramsey, at the 50:35 mark, Ramit talks about Dave's Debt Snowball. He says that the idea is to pay off the biggest balance first. Correct me if I'm wrong, but the Debt Snowball is actually paying off the SMALLEST balance, to take advantage of human psychology. Minor little tweak, but important for people to understand if they are in debt.

[@Jridgen]

You are correct.

[@Gigi-ri8gm]

Yes, that’s right with Ramsey’s plan and it’s a significant difference in how it works!

[@bigtb]

Came here to specifically see if anyone else caught that too.

[@darlenepaul2934]

You're right!

[@hearthealthyhustlebyjonath7414]

how did his book help most? Is it tactical? Thanks

[@Estherbot]

Advice for lower earners begins near 38:50

[@grumylynn]

Thank you

[@RunwithSung]

"Deciding what kind of life I want to lead, and then creating it, unapologetically, even if it means making different choices than others." Freaking loved this! Thanks Ramit and Lewis for sharing years of experience and wisdom. Some important takeaways for myself, so I remember what I just learned: -'Price' is only the surface cost: There are phantom costs in everything we do. Like paying for taxes and fixing when you buy a house. -There are also phantom benefits: I do not own any credit cards although owning one would give me some points and benefits, etc. But not owning helps me stay disciplined and grounded, and forces me to not buy shit that I don't need. (Yes, if I own a business then I would probably need one. But I don't have one, yet). -Law of compounding is insanely awesome and I want to put money into Vanguard. But as a non-US citizen, what can I do? (any people have experience in this?) -I've stupidly put more money than I can comfortably lose in crypto, and I take it as a lesson to not make such stupid mistake again. -Finding people who are willing to unapologetically share their ambitions and plans to create a rich life and bringing them together is something I need to do, like, right now. -I need that 10year edition when it comes out

[@christineshah7330]

FWIW, we own a business and are debt free and do not have a credit card. We buy equipment, trucks and chemicals with our debit card or cash. It is doable and reduces our risk dramatically. Part of making it work is paying into retained earnings, sinking funds and savings for taxes prior to paying ourselves.

[@donnabuckner2689]

Dave Ramsey's debt snowball is to pay off the lowest balance first. Small wins! Then take the money you were paying on that debt, add it to the next lowest balance and pay that off. Keep adding the money from each paid off debt to the next one.

[@hearthealthyhustlebyjonath7414]

I like Dave. I've tried doing my own "adaptation" of his plan before but I failed at it. I interviewed a girl (Dave Ramsey featured her on his IG) who got out of 130 thousand dollars of student loans in 3 years interview is up on my channel.

[@loft27ss]

Dave is the man of wisdom!

[@cynthiagutierrez2877]

It's maddening to see so many people commenting on here saying things like, "I only make 40k a year, so none of this applies to me." Um, yes it does. The principles are all the same. You just have to scale it down appropriately. For instance, if your favorite money dial is Travel, and your least favorite money dial is Clothing, then instead of spending $30 on a new shirt you spend just $5 on a used shirt and take that $25 differece and put it a savings account for Travel. It's just about allocating the money you have to go towards the things you want and to stop spending on things that aren't as important toyou, AKA prioritizing. And if you have the mindset that you absolutely cant do it, you cant save anything it's just impossible, then you have a scarcity mindset that's just not doing you any favors. And until you change that mindset you will never dig your way out.

[@donaldlyons17]

Well objectively not true. You make 40K so I doubt you have much disposable income to start. Therefore if it were me I would ignore all the talk Dave gives an focus on what works for me because without outpacing expense there will be no excess to do anything anyway..... My bro makes 6X my income and has 6X the money left over too. Scaling down is impossible if prices are too high for the scale down to work period!!!!

[@ahmadelesawy5868]

you know, I appreciate Ramit Sethi so much and I'm currently reading his book, although the advice he gives is so good, I do not live in the states and I feel as though most of his advice is not applicable to someone that is outside of the united states. I cannot open up a 401k or IRA and where I live, we do not have credits in the sense that you collect credits to become eligible of future loans. So I really would like for Ramit Sethi to be more broad with his advice to the ones that are living outside of the united states like myself

[@voiceOreezn]

Excellent interview! Very practical advice, yet easy to listen to. I will listen to anything by Ramit Sethi!

[@agneshubbard2037]

agnes clarke-hubbard I will listen anytime!!!

[@Living_Donut]

Changed my way of thinking 10 months ago From my trip back from Tokyo. I have been positive ever since. Only good days every single day for the rest of my life.

[@phoeni3902]

hey I know this comment's old but I just wanted to replay to ask what show/episode your profile picture is from

[@123Iamawesome321]

Just the podcast I needed with my collge debt and other similar circumstances! Thank you Lewis!

[@notAsheep87]

Loved hearing from Ramit - his book lit a fire for me. To clarify though Dave Ramsey's debt snowball is lowest balance first, not highest, for the reasons that Ramit said. Being able to have more smaller wins in the beginning helps build the psychology and helps you to build the habits that will clear your debt.

[@marcotheexplorer5847]

business class & FIRST CLASS seats have premium perks with first class/ Business class people ! I'll be honest I've received so many high level conversations traveling in those seating arrangements.

[@HinduBoy]

Wow 🤡

[@christianmathison1182]

I see the clown comment but obviously that person hasn’t had the opportunity to have the ear of a very smart/successful person for 3-8 hours. As a higher end sales guy I moved that as well as a country club membership where I was in groups with some of the most successful people in my area and had 4 hours each round to get advice and pick their brains.

[@marcotheexplorer5847]

@@christianmathison1182 I totally agree !

[@chadwickestey]

One of the best podcast I've listened to in awhile. Just purchased Ramit's book - can't wait to improve my finances!

[@hearthealthyhustlebyjonath7414]

how is it going Chadwick? Staying focused ? It is a challenge but you can do it man. I interviewed a girl (Dave Ramsey featured her on his IG) who got out of 130 thousand dollars of student loans in 3 years interview is up on my channel.

[@Shawk95]

Why people rather not talk about money? Because they don't want to feel ashamed for either not having enough or having too much. Since money is the score card of success and achievement, comparisons cause anxiety and awkwardness.

[@hearthealthyhustlebyjonath7414]

I'm 27. I am SO glad I'm facing the discomfort NOW instead of letting it compound my whole life.

[@HinduBoy]

@@hearthealthyhustlebyjonath7414 sooooo glad. 🤑

[@ClearOutSamskaras]

32:05 -- 33:12 Realizing that possibly the agenda or impulses or drives and motivations that I've been following might in fact come not entirely from me but overwhelmingly (in percentage terms) come very much from pre-scribed instruction from society (for a different era?) on how i should do something in order to be and become successful in life. 33:12 Don't try to please people. Don't care about what others think, don't seek their approval. You choose your path and you choose the way to do it. Lastly, Goggins' New Norm is at 34:53, this was the most powerful thing for me. The New Norm answers my recent problem with The King.

[@MsCristina38]

Thank you for the rent vs buy logic. A house is a liability-it costs money to maintain. Renting I don’t have to worry anything. Thank you for sharing your financial knowledge with us, very generous of you.

[@hearthealthyhustlebyjonath7414]

good topic not enough focus on it so it's nice this interview touched on it.

[@Jridgen]

50:28, Good talk. Correction though: Ramsay encourages paying off the LOWEST balance first, not the highest.

[@christopherkincey-kamau4404]

I used Jeff Vurkey's system ti pay off smallest debt first si you build a "success habit" and momentum. Worked well for me. But did have to take control of spending. I also vegan to notice how much folk around me set themselves up reinforcing veibg broje abd ooor as if a badge of honor. I stay away from ppl struggling now as tgey never arrive just cobt struggling.

[@ModernConnoisseur]

Definitely buying Mr. Sethi's book and see what can be applied in my country.

[@TravisHuff]

I LOVE the MONEY DIAL!

[@ideserve41]

Such a great way to think about things right?!

[@lamarmack1923]

I literally watched this twice just to here him talk about just that lol

[@TIG2MAN0]

If you want greatness you need to be comfortable walking a different path!!!!!

[@werkdatdancefitness]

It’s so important that we learn about money at an early age. I wasn’t thought money in school and learned everything after the fact. I know this is aimed at the American system of money but here’s a way your audience in Canada can benefit. I have lived in the US for 30 years and I recently immigrated to Canada. For the Canadian viewers they have something called a TFSA ( Tax Free Savings Account). All the money you put into and take out is all TAX FREE! You can put up to 5,500 into it every year. Now let’s say you’re an immigrant like me to Canada. You can contribute all of the back money you would of had since the inception of the TFSA in 2009. So for me I can put over 56,000 into a TFSA since I came to Canada in 2015. Another crazy thing is that you can open a TFSA in an investment account that trades on the stock market. The stocks and gains you make are tax free as well. You buy and sell tax free. If you live in Canada and don’t have a TFSA you are really missing out.

[@yandhi4202]

Yea its amazing I was just thinking about how people in non financial jobs may not think about this as much as the people who work in finance for a living... lot of money on the table by not investing your money well!

[@djsamsmite]

Fantastic interview! I am so curious to the material in that book. I am going to get it today!

[@hearthealthyhustlebyjonath7414]

did you cop it? How is it man?

[@steweythecatdog]

Great interview , thank you both. Going to read the book. 😊❤️👍

[@nada7sn7]

I’m very excited for the future ✨

[@geen13]

I love the way you just let people talk

[@Tcgrande77]

Automating finances is so much better for me. I was obsessed with trying to keep my budget by cutting all my enjoyment purchases. Love looking at what I enjoy spending on now unapologetically (I love massage every other week). I know that as long as I have done my automated investment and saving, my finances are much more manageable and less stressful. Thank you 🙏

[@MetaMM]

At 8 mins in, I got an aha moment, thank you. Still watching continuing on.

[@cmt1217]

Love Ramit! Great episode guys! Thank you!

[@hearthealthyhustlebyjonath7414]

what did you like most ?

[@TonyCuratolo]

One correction on Ramsey with the snowball - he suggests paying off the LOWEST balance debt first, in order to gain momentum. Love the material! 🌟

[@micahmistretta1448]

This was awesome was awesome

[@surrenderinfaith]

LOVE what he says about real estate!

[@kgiovanni9443]

Definitely need more of this. I wish i knew this 30 years ago!! Thanks gentlemen.

[@hearthealthyhustlebyjonath7414]

if you dont' mind me asking, how old are you now?

[@SteveDave5763]

Ramit's book is outstanding, good interview.

[@marysunshine5575]

This is #everything! Thank you @lewishowes!

[@BriLamberson]

Hey you guys! Hi Lewis, hi Ramit! Thank you for this interview. It was really powerful and helpful. One criticism is that when you guys were discussing the concept of what to do with your money when you essentially have all of your bases covered in savings, investments, etc the answer I thought you were going to give was, well, give. May I ask why giving didn’t come during this conversation? Perhaps it did and I missed. You are super generous. Why didn’t you talk more about that? Thanks in advance! Bri

[@hearthealthyhustlebyjonath7414]

I interviewed a girl (Dave Ramsey featured her on his IG) who got out of 130 thousand dollars of student loans in 3 years interview is up on my channel.

[@intuitive_duck]

This speaks directly to me!! Love every second! 💙

[@omaryrodriguez]

Really learned so much!

[@GoMinivan]

Oh my goodness.. the things this guy is saying is incredible and very very deep!

[@79bnice]

Bam!! That's the key. Being in control of your money.

[@s3xiibiishliyah]

Dave in the beginning said pay the small debt's first and don't look at the interest because people need small window to keep them going.

[@89DrFunk]

Yup he does I think Ramit misspoke

[@JonnyWisdom]

Great practical advice. Cheers for doing this Lewis.

[@claudiafernandezpomo6028]

Thank you for this Lewis. ❤️

[@gabrielgunakabelen2982]

Money Dial is best lesson in my life and wanna do it and follow all the secret shared.

[@lpkid2]

Climb the ladder to financial success

[@killerdoggy72]

Outstanding Interview Lewis ! So many take aways. Thank you !

[@nelidasilva7388]

Great interview, please more of this. Thank you Lewis and Ramit

[@chrisg3893]

Yes Lewis, please give us another 54 min 7 ad video! I loved it!

[@ikbenmarko]

Thanks LEWIS!! One of the best notes I've made so far: *"YOU'VE GOT SOMETHING TO SAY, AND THE WORLD NEEDS TO HEAR IT"* - Ramit Sethi Agree/Disagree?

[@hearthealthyhustlebyjonath7414]

agree 100%.

[@sherylchapman7809]

Reconstructed Agreed

[@sandrakaima]

I agree 100% and I want to talk about money he just confirmed an idea that I had in mind so I have to say Ramit thank you and Lewis great interview. 😎🤩😇

[@TerryCollinsP31Lifestyle]

I’m so excited to find this interview

[@lewishowes]

Thank you!

[@Damirrea]

I am so thankful for this guy!!

[@Damirrea]

@@lewishowes Oh wow! Thanks for responding Lewis and the thing that stood out to me is "always question what you have been taught about money" and when he mention "if you have a lot of money never let it sit in the bank. Also my gf picked up his book for me a couple of months ago as a gift. It really has changed the life. Thanks for bringing him on =)

[@mamadharma7859]

I love this conversation

[@TerryCollinsP31Lifestyle]

Oh my gosh….that is so true…you can’t really talk about it online and to say you have a problem of too much money…no one wants to talk about it

[@hetalip.3347]

Great podcast Learned alont Looking forward for more of this…

[@eloisa2897]

Let's buy

[@sylviefallu1156]

Très belle rencontre et très intéressante!

[@TerryCollinsP31Lifestyle]

Agree with that point…your location and the actual numbers you need to consider As of this day, in my area, rents went up $400-$600 a month so if you have 10 rentals, that’s a $48,000 to $60,000 a year increase

[@shirifeldman6510]

Any other poor college students watching this?

[@SuperForceFive]

Shiri Feldman ayyye

[@agneshubbard2037]

agnes clarke-hubbard 10 days ago

[@sunriseja9292]

Shiri Feldman me

[@RedappleOfficial2012]

🤟

[@torapuffs]

Here-here

[@StathamAcademy]

"Everyone teaches you how to save money, but almost noone teaches you how to spend it."

[@hearthealthyhustlebyjonath7414]

True, but also, not true. Society teaches us in U.S. to SPEND and consume with our money. Societal pressure is a very real relentless presence trying to suck money dry. But in terms of guru's he may be right.

[@BenDonahower]

Word. Struck me too.

[@thomasr1051]

That's such a huge idea. Save doesn't create that much value. Spending creates value

[@thomasr1051]

@@hearthealthyhustlebyjonath7414 right but there doesn't exist that much education around spending. So if we don't seek education out everyone else will tell us how to spend it. Our friends. The shows we consume. Corporations. Lots of people tell you how to spend but not in a way that benefits you

[@lastmadcow]

what a ridiculous line. spending it is so easy.

[@gr8thingstocome]

Excellent. Thank you.

[@renchemarais8419]

Very IMPORTANT, APPRECIATES

[@Modern5023]

Really enjoyed this conversation. Great conversation about money and finances. Lewis I wanted to ask you would you consider getting flight hours to fly private?

[@carolannstevens5814]

Love this!!! YESSS I want more of this!. I love to hear to rent!!! I agree!

[@TerryCollinsP31Lifestyle]

3 Truths 1 -You can create a rich life 2 -You have something to say and the world needs to hear it 3 -You can eat spicer food than you think

[@TerryCollinsP31Lifestyle]

Improve your quality of life always

[@YogaBlissDance]

Lewis amazing. I wish though more for folks who are like below 100k- as his advice is so sharp but it felt over my head and I would think many others.

[@antonioortizburciaga1158]

Pure gold. You guys are legends.

[@kleding11]

Great stuff! Thanks so much guys.

[@alexisascencio9397]

This was really good, thanks Lewis! Always bringing that heat 🙌🏼🔥

[@TanvirAhmed24]

If you can reach the point where you're saving/storing 40% of your income, I guarantee you'll be rich.

[@nextlevellifecoaching1252]

It's all relative. It depends on how much you make, how soon you start and your time horizon, how and where you're investing your money, and so on.

[@TheZGALa]

So relevant for me this morning. Thank you!!!

[@pachamama8586]

Thank you for sharing and all the best to you!!

[@hearthealthyhustlebyjonath7414]

bringing the heeat with interviews like this!

[@TerryCollinsP31Lifestyle]

This is a really great interview

[@kathysutton2631]

Sounds like it’s for the high earners mostly. Pls say more for low earners.

[@AnjuliMack]

Such a good interview! Love this! Love your book too Lewis :)

[@rgmieres]

Great interview..... and good points. Just one correction, Dave Ramsey Debt Snowball is to pay the “lowest” balance first, not the highest. Keep up the great work.

[@fwefhwe4232]

Raul G. Mieres i think one should pay the highest interest rate debt first

[@kevinthompson4712]

Love it Lewis!!!

[@hearthealthyhustlebyjonath7414]

Kevin what was your top takeaway?

[@arshtalks3514]

It's Informative, thank you Lewis

[@lowSO562]

This was great, you have to learn how to save and spend, my mom was a CPA. She always said save and invest. I also started a channel on personal finance on these topics . LETS GO!!!!

[@glendypineda9213]

Great information! Love it🤗

[@lewishowes]

Thanks for being here!

[@awilda2790]

AWESOME!!!

[@Anita-is8pb]

YES!!! I’d love a follow up interview with Remit!!!!!

[@peterjeong]

Enjoyed this! Thank you

[@hearthealthyhustlebyjonath7414]

Peter best to you friend. What was your number one takeaway?

[@sheer.creative]

Awesome! I will order the book today and do the plan with my boyfriend. Let's see how it goes!

[@shobha430]

Awesome

[@cassie.minimalist]

Find someone who looks at you the way Lewis looks at Ramit... haha great interview :)

[@lewishowes]

😊

[@TerryCollinsP31Lifestyle]

Yes. Find new people

[@TerryCollinsP31Lifestyle]

Love that end comment: buy real estate depending area. I always say, you don’t need to live in Dover Delaware to own rentals in Dover Delaware

[@aaronmlingi7165]

😮More of this ......please

[@lewishowes]

🧡

[@SweeterLayers]

So encouraging

[@lewishowes]

🙏

[@Gigi-ri8gm]

I believe Dave Ramsey says to pay off smallest debts first and work your way up to the highest amount. The highest amount is paid last. Right???

[@mattjsherman]

yes, this is to create quick feelings of success. it really does work. when that first small debt is gone you are instantly less stressed.

[@michaelhan4400]

Mathematically it isn't the best choice (the best would be paying off the debt with the highest interest rate) but it can help people emotionally by taking the stress of having multiple debts away.

[@danv87]

Correct!

[@hearthealthyhustlebyjonath7414]

Yes. This is psychological. I interviewed a girl who got out of 130 thousand dollars of student loans in 3 years interview is up on my channel. Dave Ramsey featured her on his IG.

[@novaricos]

@@michaelhan4400 as he, Ramsey, says 'if you were that good with math, you wouldn't be in this fix in the first place!' lol true! need to deal with and change the thoughts and habits and behaviours of the one in the mirror, not the 'math' problems! love to you all and peace and strength as you plan and work it. You can do it! and enjoy the journey ,

[@hinakhodiyara5575]

Epic. Nice one Lewis :)

[@sheilaartist6788]

Thank you for the great content. I'm really enjoying it.

[@gameswithphil]

There are no Realtor fees for a home buyer. Just to let people know! Only realtor fees are for home sellers. Licensed realtor here (anyone planning to move to North Texas?). Renting is high on the "convenience dial" and low on "money efficiency dial". Buy a house/unit, rent the rooms you do not live in, to people you've met. Works best for people who do not need an entire home for them/their family. This is an effective and easy to understand method some call "house hacking". It's just a different dial to turn.

[@sompongmoss3008]

No sweat friends. I love to hear the different money information.

[@TerryCollinsP31Lifestyle]

This is a really good interview/conversation

[@lewishowes]

So glad you enjoyed it! Appreciate you for watching.