Tuesday, April 07, 2009


My friend Sonal recently recommended to me this blog about personal finance for young people. It is called http://www.iwillteachyoutoberich.com. Sounds like a scam, doesn't it? At first i was skeptical too. Reading the blog and researching it over the web made me realise - this guy can really help me.

The blog is written by a recent Stanford guy, Ramit Sethi. Yes, he is of Indian decent. I think for me, this fact strengthened his genuineness :-)He also recently realised a book under the same name - I will teach you to be rich. I have bought that book.

Personally, i think i am ok with personal finance. I am risk taker by nature.and I have been putting a lot of time into reading about it and learning. I have also taken some advice from a financial advisor for my investments. But I was having problems managing simple things. I needed a method to manage the zillions of accounts that i have currently. Yah, I have managed to do that like most young guys just out of schools. Most of these accounts are credit cards :-(.

So, what i liked about his blog and book( i have partially read), are the tactics. The tactics are very helpful in making things easier to manage - Like automating my payments and transfers. It helped me change my focus from the small things that do nothing to improve my knowledge to things that i will help me enhance my financial and technical knowledge.

I personally, think every young person should read the book at least once. I am sure everyone will get something out of it. There are some chapters of his book online, people can check that out too before buying it.

I do not see book as be all end all of personal finance. As it says "personal finance", it is a personal thing. It depends on What do YOU want achieve in your life? I read many books, websites and listen to people and try to make an educated call and hope that i make the right decision.