I Will Teach You to Be Rich: No Guilt. No Excuses. No B.S. Just a 6-Week Program That Works.

by Ramit Sethi

Cynics don’t want results; they want an excuse to not take action. Ironically, even if they win their own manufactured argument, they lose overall, because they’re stuck in a prison of their mind.

The single most important factor to getting rich is getting started, not being the smartest person in the room.

Every December, I sit down with my wife and we get intentional about the next year. Where do we want to travel? Who do we want to invite with us? What can we imagine doing in the next year that we’ll remember for the next fifty years?

Here are the accounts I use and how I’ve set them up to work together. My Accounts. All of my money goes through my interest-bearing Schwab online checking account. Deposits happen through direct deposit or by taking a photo of a check and depositing it through the Schwab app. My System. My finances work on a monthly cycle, and my system automatically disburses money where it needs to go. I’ve set up accounts to draw from my checking account. For example, my Capital One 360 savings account automatically withdraws a certain amount every month from my checking account, as does my investment account (more about these in Chapter 3). For rewards, tracking, and consumer protection, I pay my bills using my credit card. The credit card is automatically paid in full every month by my online checking account. For cash expenses, I use the Schwab ATM card to withdraw money at any ATM nationwide. All ATM charges are automatically reimbursed at the end of the month. Generally, I use my Capital One 360 account as a receiver, not a sender: I rarely transfer money out of there unless I need to cover a temporary shortage in my checking account or want to spend savings money on something important, like a vacation . . . And that’s how I do it.