I read the book once and am re-reading it. Hey lays out a pretty solid plan. I still don’t understand some parts and found his writing style to bounce around quite a bit. It’s a great book overall, but for the financially clueless (such as myself) I still find my self a little bit confused about how it all works and all the components tie together.

It was refreshing to see a book which is unlike most others. Gives detailed step by step instruction to begin with investing and sustaining it as well. Touches on some other soft elements of how to talk about money with family, friends, spouse, prenups etc. which was new. Having read multiple books and articles, watched multiple videos etc, I find this book to have summarized the key concepts well. The way it is organized is good, however only downside is while you are reading through a concept, the excerpts from other readers or a side story sometimes become a distraction. But overall they do add more context to the topic, just that the placement seems out of order at times.

This is my favorite book that I return to over and over again. It is the one I gift the most frequently to friends, family, and recent grads. From my own experience, I disagree about this book not being for people under 20 (while simultaneously agreeing, so let me explain). I read most of the book when I was 18 as an undergrad and revisited a couple time till I graduated college and got my teaching credential at 25. I both read and scanned, sometimes without fully comprehending and without being able to implement, well, really any of the recommendations. And yet, the guidance was still super useful because I didn't make financially unsavvy decisions that would delay my being able to set up a savvy, automated financial system upon graduation and earning an income. For example, I saw a lot of my peers making decisions such as buying a new car upon receiving their first paycheck or two because they could afford the payments (or even prior to graduation) - the payments that would put their fixed costs at 90% of their income and cause them to live paycheck-to-paycheck with a ton of stress!! This book gave me the vague and general understanding of what I was going to try to set up before I had the means to do so, before I was even earning a real income. It helped me determine and sort out my financial values and figure out how I wanted to live my life. It helped me choose a financially responsible spouse who also read the book. Ramit's guidance helped us arrive at similar financial values and systems from the start. We're so glad we have the tools to talk about money without stress. We've had many friends speak to us about how they have such a hard time talking about money with their partners because the partner just shuts down about it. We sympathize, and as a result of their transparency about their own struggles, we don't take for granted how empowered we are because of this book. (And how brilliant of Ramit to supplement with his podcast of the same title to listen to couples have these conversations) The book is easy(ish) to follow. I would recommend just accepting that you won't understand everything the first time through, but I realized later that I understood more than I thought and rereading sections really helped. I love the way it is organized into "weeks." Each "week" has steps that are actionable and gave me *the* guide to set up my finances. What's great is you can sort of "pause" at certain weeks when it takes longer to set up what you need to. For example, I graduated with about $4,000 in credit card debt. I read on so I know what was coming, but I had to pause after Weeks 1-3 as I prioritized paying off that CC debt (which I did within 4 months). I was able to create a debt payoff plan: I chose to use my student loan grace period to pay off the CC aggressively, then start paying off my student loan debt with minimum payments while building up the funds to open my Roth IRA at Vanguard, and so on. I automated everything and literally one day looked at my Roth and was like, "How did I get so much money?!" And that's on a teacher's and adjunct university lecturer's low pay! I'm not kidding when I say it's almost like it happened by accident - I set up everything immediately after college graduation and never felt like my life was limited or lacking from putting aside money each month. I was able to determine which order to pay things and how to allocate my paycheck. I've been able to keep my fixed costs low and build up a nest egg so I am under little financial stress, even through my periods of low pay and job insecurity. I just can't say enough good things. Read it now even if you can't implement. Read it even if it doesn't make sense to you (yet!). It's so worth it.

First, let me start off by saying that I've read a lot of different books on personal finance. So I'm very familiar with Dave Ramsey's method of personal finances and a bunch of others. I've read tons of articles, blog posts, etc... on paying off debt and investing, etc... So this topic isn't new to me. So when I got this book (I got an advanced copy of it)I was figuring that I would read this book and probably wouldn't learn anything new. I was thinking "ohhhkaaay...so it's gonna probably talk about how to get out of debt by reducing your spending to almost nothing, eat beans, rice and ramen noodles...cut coupons..and do this for several years then you'll be able to start living your life" I figured it would be the same old information that I've read in all the other personal finance books....yaaawn! Boy oh boy...was I ever wrong I honestly have to say, that this book was the complete opposite of everything I've ever read. For you parents, it's like having two kids. You know..your first child is usually calm, relaxed, quiet, well mannered and well behaved. Then you have child #2...expecting things to be pretty much the same...only to find out your second child is the complete opposite Child #2 is a wild child. Crazy, loud, eats dirt...touches the bathroom handles in public washrooms and then the next minute has their fingers in their mouth Well, Ramit's book is like your second child. LMAO. It's fun and actually really interesting to read! ( I know...I know..who says that about a dry topic like paying off debt, investing and saving?). It'll make you laugh in some parts(fo real!). And...it gets you motivated and makes you want to start taking action as soon as you've finished the chapter He gives you action steps at the end of each chapter that you can start implementing right away! And...it's real! He keeps it sooo real that he even talks about his discussion with his wife when bringing up the topic of having a PRENUP!! (ohhhh snaaaapp!! ...bring out the popcorn cuz it's about to go down!!) >>>>>>>>>>>>>> Ok...so here's what I really liked about this book and thought was friggin awesome! [1. Conscious Spending] Ok...so we've all heard about "having a budget". And when we hear that..we automatically think "cut back on everything. Use water instead of milk in your cereal. Grow your own coffee beans at home in your backyard and make your own coffee to save a couple of dollars a day"...right? But Ramit goes about this in a TOTALLY different way. And I love his approach to it. It's such a small shift in your mindset, but it has a HUGE impact!! So basically, he's telling you this. Instead of thinking of your budget as a way to cut back and not enjoy life..think of it like a plan. It's your plan where you are CONSCIOUSLY choosing how to SPEND your money each month. But not only that... this is YOUR life! And to live a "rich" and "happy" life - you get to choose to spend on the things that make you happy. So why not cut back on the things you hate - so that you can spend on the things you love! As he says in Chapter 4 on Conscious Spending "conscious spending isn’t about cutting your spending on everything. That approach wouldn’t last two days. It is, quite simply, about choosing the things you love enough to spend extravagantly on—and then cutting costs mercilessly on the things you don’t love." (BOOOM!! MIC DROP!!) [2. Scripts to use to save you money] You ever get nervous when calling up a financial company (like your credit cards) and then you don't know what to say. Maybe you don't know how to negotiate, or you just get nervous and forget what to say. Well...not to worry. Ramit gives you WORD FOR WORD scripts that you can use to waive annual fees on your credit cards, and even get fees waived on your bank accounts! I know...when I read that I was like "hoollld up..wutcha talkin bout Willis!" I told you that this book was the complete opposite of other personal finance books. What other personal finance book is giving you exact scripts to use on how to call up your credit card and get annual fees waived?! It's these small details that the average person wants to know cuz let's be real...who likes paying fees? Right?! [3. Open and Honest] What I really liked...which I've never seen before....was the willingness to be open and direct with the reader. Ramit laid all the cards on the table and he mentions a. the exact credit cards he uses b. the exact bank accounts he uses c. the exact online brokerage account he uses d. the investments he puts his money in Who else does that? But not only that....like I said, he GOES THERE and talks about the very very very touchy and sensitive topic of having a prenup. In Chapter 9 LOVE & MONEY - he talks about how he had this difficult conversation with his wife. He also talks about why he decided to do it and should you sign one or not? Also in this chapter, he covers difficult topics around money like a. How to help parents who are in debt b. Should you tell your parents and friends how much money you have c. Talking Money with your significant other d. How to handle money when your spouse makes more than you e. How to handle planning for a wedding f. Negotiating your salary at work and more and more... I'm telling you...Chapter 9 is where it all goes down! Just keepin it real with ya...this is the stuff that we REALLY want to know about. This is the real life stuff we deal with on a day to day basis that NOBODY IS TALKING ABOUT!! I mean, sure...we want to know how to pay off debt, invest, etc... But let's be real. That part is boring. That's like reading the first few chapters of a hot & steamy novel..like 50 shades of gray. It's necessary to build the story, but the REAL juicy stuff happens later on.... and that's the part you want to get to. We've all had a difficult convo with someone about money (spouse, fiance, boyfriend/girlfriend, etc..) Don't you wish you knew how to handle it better...well now you will! Now you'll have a plan [4. He's very specific] For example, in Chapter 7 he talks about investing. And he recommends setting up your asset allocation using David Swensen's recommendation. Swensen manages Yale's endowment for more than 30 years and has an amazing 13.5% annualized return. He even gives you the exact percentage's to use 30 percent—Domestic equities 15 percent—Developed-world international equities 5 percent—Emerging-market equities 20 percent—Real estate investment trusts 15 percent—Government bonds 15 percent—Treasury inflation-protected securities I like this because it takes the guess work out of it for you Just do exactly what he's laid out - and boom! You've got a successful investing plan in place. >>>>>>>>>>>>>>>>> WHAT'S DIFFERENT Here are some things that I found different with this book vs other personal finance books [1. Focus on Big wins, not small wins] So for example, instead of chasing small percentages by getting introductory rates for high interest savings accounts, focus on your asset allocation and what you're invested in. Your time is much better spent focusing on that, and it will have much bigger returns in the long run Ramit continues to remind us that it is better to use your time working on things that will have a big impact on your life (i.e. setting up your automated investing) vs spending hours or days looking for the perfect credit card. [2. Word for Word Scripts] As I mentioned, he gives you exact scripts you can use to save money and get fees waived [3. Automating your finances] Let's be real..who REALLY enjoys paying bills? Who really enjoys reading over investment statements and managing their money? No one!..that's who! Not even Ramit (he even admits this in the book) Plus - we're all lazy. We don't really want to set aside time to look at our investments. We say we will...but let's be honest..most of us don't. So in Chapter 5 - he shows you how to automate your finances so that you can get on with your life. He shows you how to setup a system so that your bills get paid automatically and your investment accounts get funded automatically. And when it's all setup and done...you basically only have to spend 1hr a month looking over your finances, so that you can get on with the more important things in your life [4. Conversations around money] He talks about things that others don't talk about...like the judgement you get from friends and family when you spend money on certain things you like...or how we may judge others on things they spend..but we don't know the full context. Or I'm sure we've all had that one friend who says to you "why do you still have that old iphone? Don't you think it's time to upgrade?" This was very eye-opening to me and it was great to see someone finally be honest and talk about these things. I have never read a personal finance book that talks about these real life situations this way before >>>>>>>>>>>>>>> WHAT IS MISSING Here are some things I found that were missing from the book [1. Real Estate Investments] I'm actually kind of surprised that he didn't talk about investing in real estate (residential or commercial) This is such a hot topic, and there are TONS of Real estate related TV shows now about flipping homes, or agents finding these multi-million dollar homes for their clients. I think it's a topic that many people are also interested in. Also, just based on regular "street knowledge"...the average person probably has an easier time understanding real estate and owning property vs understanding how the stock market and index funds work. They probably feel more comfortable with real estate because it's a physical asset, whereas the stock market may feel like black magic to a lot of people. He talks about Cryptocurrency, so I thought for sure he'd talk about investing in real estate. But he didn't I wish he had touched on Real Estate as an investment and mention at least what percentage of your portfolio should be allocated towards real estate and how to go about investing in it in a strategic, methodical manner. Kind of like how he explained how to invest in the stock market [2. Saving up and paying cash for your car] I found it odd that he didn't talk about the option of saving up and paying for a car in cash. He does talk about how to buy a car, but it involves getting a loan. Which - I found ironic because Ramit is completely against debt. So it didn't make sense to me why he is telling us to get a loan for a car He mentions how to save up for other big ticket items (like your wedding, etc..) but he doesn't give you a plan on how to save up for your car and use cash so that you can avoid getting into debt and getting a car loan. I'm not sure what the reason is behind this...but this was very surprising to me. [3. Investing in blue-chip stable companies] Ramit is against picking and investing in individual stocks. He recommends investing in Index Funds instead. And for the average person, I understand why And..he explains why in the book (Chapter 7) But - at the same time, I think there could have been an opportunity to mention in the book how to invest in well known, stable, big name companies that have been around for many decades that produce dividends and can be a good addition to your portfolio I'm not saying that they should make up the majority of your portfolio, but perhaps a small percentage. Ramit is very methodical - and I believe he could have given some sound advice on some criteria to look at for blue-chip companies that have been around forever, and would be solid investments. One company that comes to mind that Warren Buffett publicly admits he likes is Coca-Cola. It's not an exciting company but it has a history of being stable and producing dividends for the investor. >>>>>>>>>>>>>>> MAIN TAKEAWAY FROM THE BOOK The main theme of this book is all about living your Rich Life And of course, living a Rich Life will mean different things for different people. For one person, that might mean always upgrading their seats on a flight to the seats with extra leg room...for another, that might mean always buying the VIP section tickets at concerts but also that person could care less about eating out at lunch so they always pack their lunch. In Chapter 9 (A Rich Life) ...Ramit says : "it’s about not having to think about money all the time and being able to travel and work on the things that interest me." this pretty much sums it all up right here. I realized that life is more about enjoying your money, and using it to do the things that bring you joy and make you happy. Whatever those things are for you. You will have to decide. I already had a mindset of doing the things I enjoy...but this book helped me to get more clarity on exactly how to do that on a daily basis. This book helped me to have a plan to set aside a specific amount each month towards things I love. And more importantly, how to NOT feel GUILTY about spending on things I enjoy (like upgrading my seats on flights or buying courtside basketball seats) because I am cutting back on things I don't like as much (like paying a cable bill) >>>>>>>>>>>>>>> WHO SHOULD GET THIS BOOK This book is for the person who 1. hates manually paying their bills each month 2. wants to have simple and easy investments that they actually understand 3. wants to not feel guilty about spending on things they love 4. wants an easy to understand plan on how to pay off debts and still enjoy life (without eating ramen noodles and cutting coupons) 5. wants tips for having real life awkward conversations with friends and family about money 6. wants to enjoy their money and know that in the background their money is growing and they will have enough to retire 7. is tired of the regular boring personal advice that they've read for years and years Ramit's approach is like that one friend who tells you how it is. They call you out on your B.S. and you appreciate them for it cuz they always keep it real with you and you know that they want nothing but the best for ya. If you like that quality in people, then you will most definitely enjoy this book! also...just being honest...I would've given it 4.5 stars, but there was no way to do so. I think 5 stars is for absolute perfection And since Ramit left out the topic of Real Estate Investing, he didn't discuss the option of saving up and paying cash for a car and I think he could've touched on investing in blue chip stable companies - I would say it's 4.5 stars (in my opinion) It's still an awesome book and by far the best most COMPLETE book I've read on personal finances because it handles those real life topics around money that happen to all of us, but no one else is talking about.