Ep. 150 – Ramit Sethi: The (Stupid) Money Mistake Everyone’s Making

I was always good at making money.

I was also good at losing it instantly. I always went broke… Now I know why.

What was I was doing wrong? I’ll tell you. Because I bet you’re making the same mistake.

But first, I’ll tell you how to make money. More money than you thought was possible.

Listen to this episode. You’ll hear tested and proven strategies to get rich from Ramit Sethi, the NewYork Times bestselling author and founder of iwillteachyoutoberich.com.

He grew his business from a dorm-room blog into a multi-million dollar online business.

And now he started a new company, GrowthLab, to teach you how to do the same thing—start and grow an online business.

Ramit is a trainer. He’ll make you hustle.

“It’s like looking up at a skyscraper and saying ‘How am I going to build one of those?’ Well you’re not. You’re going to start by walking in the lobby,” Ramit says, “That’s what you’re going to do on day one.”

You can’t get rich without putting in the work.

I’ve set goals. None of them came true. But five or six other amazing things that I never could have predicted happened instead.

Goals require plans.

You’re going to get rich. How?

You want to lose weight or start a business. How?

Ramit will tell you. He’ll turn your goals into achievements.

Actually, you’ll do it, with his help.

Consider taking his courses… One teaches you how to triple your salary. Which is like heroin. According to one of my other podcast guests, Nassim Taleb.

Taleb said the three deadliest addictions are 1) heroin, I don’t remember the second one, and 3) a steady salary. How can you feel motivated when you’re prostituting yourself everyday?

What did I learn from Ramit? It’s less about what I learned, and more about what I feel capable of doing every time I listen to him.

Fear is a debilitating idea. Replace fear with motivation. You’ll be amazed at the results.

I need motivation to eat well, write everyday, do the daily practice. And I start over everyday. Because motivation isn’t as constant as your to-do list.

But with Ramit’s plan, you’ll get systems in place. Systems that manage your money and organize your time, and take care of all the things draining you dry.

“If you’re going to put in work, why not be positive, try to improve yourself, improve your relationship, make more money,” Ramit says.

I haven’t taken his courses. But strangers email me saying they’re great. That they’ve tripled their income. I don’t know why they tell me that. I get a lot of strange emails from strangers. Skip to 40:12 on my podcast. You’ll laugh. Trust me.

You shouldn’t go a day without laughing anyway.

I’m going to tell you why I went broke. You’ll hear it in this episode. And you’ll learn how to clean up your life.

You’ll get systems… you’ll get a plan.

And, thanks to Ramit, you’ll learn how to be rich.

Listen now.

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  • midas NFX #CAE #CFD

    Awesome podcast! Thanks for sharing! As a student from Ramit from 1 year, I can tell that I have been blessed to find his blog. I learnt so much that I almost became a different person (in a good way ;-) ). He is also the one who presented you James to me (you must “study the masters” as Ramit says).

  • What a great podcast. I enjoyed every minute and am encouraged to keep moving. Thanks James & Ramit.

  • Very entertaining, incredibly practical, highly valuable. Thank you both.

  • Seth Morgen Long (Seth M. Long

    This was great, thank you James and Ramit.

  • Conor Smyth

    Hey James, great podcast – just letting you know that Entrepreneurship is misspelled in the sidebar banner. Cheers!

  • Great podcast! Thanks James and Ramit. I subscribe to both of your newsletters and I found this conversation really engaging.
    What really resonated with me was the way you both talked about money. I definitely get that people want to pay more for the best. This is why I am developing a compelling offer to my email list.
    I really enjoyed the way James described the different dimensions of money. Very interesting and I would love to learn more.
    You are both awesome!

  • Second one is Carbohydrates (:

  • Great podcast. I’ve followed Ramit’s blog for years. His advice is solid.

    I loved his comments about the lady wanting to run three times a week.

    Good stuff.

  • Paul Ramsek

    Sorry, at this point I would need to get a credit card to purchase the lowest cost Ramit Sethi’s course. Yea, I know I need to earn more as an employee or better yet learn a new skill that both earn more and even apply to entreprenurial idea that I have.

  • Antony Antony

    Thank You James, I love your content and you seem a really nice person