Ramit Sethi is a fun and interesting character. I had the chance to meet him a few months back on his book tour and just got around to finishing the book. Ramit genuinely cares about helping his readers be as lazy and financially stable as possible. If you think that is an oxymoron, you should probably read the book.
Ramit's book, which is billed as “No Guilt, No Excuses, No BS. Just a 6 Week Program That Works,” gives readers a well defined six week plan to get your finances in order. The book is pretty much the Automatic Millionaire by David Bach for 20-30 year olds.
Unlike Automatic Millionaire, Ramit does not talk about saving money by skipping runs to Starbucks. Ramit actually wants you to spend money on Starbucks, but do it knowingly and willingly with consideration of what you give up. Ramit's plan is to save first and spend the rest on whatever you want later.
Ramit's six week plan gives you a week for each of the following topics:
- Credit Cards
- Bank Accounts
- Investing Accounts
- Conscious Spending
- Automatic Money Flows
- Investing Choices
There is nothing ground breaking about this book (or any other personal finance book for that matter). Most of it is common sense stuff that you already know. However, if this book is what motivates you to do it, it is a great investment for your bookshelf.
What I Liked:
I like the style and content of Ramit's book. If you read his blog of the same name, you already have a good idea of what you are getting into. You will get some corny jokes, some fun ideas, and a no bull attitude. Ramit makes it clear that your finances are under your control and you just need to take the steps to get going. If you want the easy way to deal with your investments without thinking, follow Ramit's plan to the letter.
What I Didn't Like:
Several times in the book, Ramit blatantly says that finance experts are full of crap. I take exception to that. I am a finance expert. I have the degree (almost two) to prove it. Other than his personal attacks on what I am going to school for, I thought it was a good read.