I'm the host of Netflix's money show “How To Get Rich” and the author of a bestselling money book that's sold over a million …
source
I'm the host of Netflix's money show “How To Get Rich” and the author of a bestselling money book that's sold over a million …
source
Input your search keywords and press Enter.
24 comments
Renting doesn't throw away money. It buys flexibility.
I track every purchase I make, but i don't really get into the nitty gritty if an item was more or less expensive as long as it fits in the budget i have allocated and if i go over one month i try to do better next
Ramit … get out of the shower 😂 … I have everything. 🎉
Ramit, could you please talk about how you suggest lifelong renters should approach housing in their last decades, especially if they want to age in place? I understand why it might be smart to rent for most of one's life, but being subject to your landlord's decisions at 80 or 90 doesn't feel secure.
My house has gone up 120% in value. I haven't made any money cause I don't plan on selling.
Ramit STOP! I use that first budget tracker and I am a project manager😅😅😂😂
YNAB truly is the best. My husband and I BOTH have ADHD and we struggled so much with money in the early part of our marriage. We found YNAB about 6 years ago and it drastically improved our lives. We haven't paid a late or overdraft fee in 5+ years (maybe one or two in the early days with YNAB but none since then) and we are able to use credit cards responsibly now. I think YNAB almost feels like a game to me because I want to make sure all the categories stay green so it helps me stick with keeping track of my finances.
We've had some hefty emergency medical expenses this year that put us into a small amount of debt again but without YNAB we would have been in a much worse situation. Even considering that small amount of debt, we've increased our net worth by 83% in 4 years (I did a budget reset in 2020 so I don't have the numbers handy for the full 6 years) and that's only including checking and savings account balances vs loans and credit cards. If we added in our 401K and Roth IRA balances, that number would be significantly higher. We are not high income earners either, combined we make about $95K. That puts us ahead of many people in our state but still firmly middle class.
What do you mean you don't use a budget? That doesn't sound right coming from a finance expert.
That pay check to pay check quote is being said well before 2023…
The house comment: you forgot the biggest expenses for me which are interest, property taxes and forced insurance that covers pretty much nothing at ridiculous amounts.
That said, i enjoy my house but dgaf about what others do
Exactly Ram it 💯 💯
I think the spreadsheet folks in the comments are missing his message. Spreadsheets are a good start if you don’t know how to manage money but eventually once you implement systems such as automating investments, savings, retirement, & autopay most expenses, it will free you of having to track expenses weekly. Instead you can look at those systems monthly and make small tweaks if necessary.
Also if you are a spreadsheet person in the comments, chances are you did not read his book and that’s okay too.
Hubby and I rent and we are mid 50's. The thing about renting is that you are under the power of a landlord. We've been in this same townhome for 5.5 years and got a notice from our landlord that he wants to sell in 2025. Now we have to move when we don't want to. We are looking for a place to buy because this is the second time now that we were forced our of a rental.
WHERES MY FUCKIN SWEATER
Isn’t a mortgage like rent? You’re not paying a landlord but you pay a bank lol
I like that there is more talking about being flexible with housing. Personally I love having a house. I like fixing it up, like having tools, like modifying it. Is it expensive? Yep. But I love that I was able to put a rock climbing wall in the house for the kids, and also had a trampoline in it. When they outgrew it I fixed the wall, and the trampoline messed up the tile it was on so I ripped it out and put in new flooring. I don't think renting is wasting money, and I don't think buying a house is a waste. It all depends.
I would never buy the house I live in now for what its worth now. I can't blame other people for not wanting to do it either, especially if you aren't married. BUT if i could go back 8 years I would have bought two houses instead of one.
You don't have to buy a house, that's completely fine but you won't understand the pride you feel with home ownership unless you've done it. Of course, the financials have to make sense but don't just dismiss home ownership because you're too lazy to mow your own lawn or shovel some snow.
I'm in the uk, and just bought my first home. I got in the financial game late. Didnt have the financial education early on. Yes owning my own home is a lot of responsibility, but I also found a decent property cheap and its costing me almost half every month to pay my mortgage than it did to rent. That money I save on my rent is getting invested. If I hadn't done this, I'd be struggling to put much away for later and my rent would keep step with inflation. I might have to put the work in to maintain my home, but I do have freedom to change what I want and peace of mind that a landlord cant just oust me when it suits them. That might just be my version of a rich life though.
Naw this is stupid i paid off my condo and let me tell you man im laughing at how easy my life is RN
Best part about owning a home is i dont have a landlord telling me my rent is about to go up $200 a month. While everything is in this world has gone up in the past 15 years, including my wages, my mortgage has stayed the same. Now, my total home expenses on a 3 bdrm brick home is a fraction of what rent would be for an efficiency apartment in Crackville. If you plan on living there for 10+ years, buying a home is a no beainer.
Errythang aint for Errybody. I never wanted to buy a house because I don’t want the responsibility, and invested instead. The construction companies created ‘The American Dream’ of a house with a picket fence when Levittown was built post WW2. They lobbied for tax breaks etc and marketed to returning vets who used their GI Bill. Of course, no black folks could buy cuz… America.
I too would prefer a large stock inheritance over a house. What I don't understand is how does paying rent for decades contribute more to a large stock inheritance than paying off a mortgage and having those funds to put into stocks?
Ramit, you need to make a video on crypto!!!!!!