video - I will teach you to be rich - talks at Google

He mentions that a rich life for him is specific. Example: using a taxi instead of subway.

We see more articles/advices about how to save, not about how to spend.

Money is the byproduct of doing all these right things.

One of my philosophies is to:

spend extravagantly on the things you love as long as you cut costs mercilessly on the things you don't.


Ramit's money rules (link):

  1. Always have 1 year of emergency funds, cash
  2. Save 10% and invest 20% of gross income, minimum
  3. Pay cash for large expenses. 20% down, minimum on a house.
  4. Never question spending money on books, appetizers, health, or donating to a friend's charity fundraiser.
  5. Business class on flights over 4 hours.
  6. No limit on spending for health (personal trainer) or education (courses, events, etc.).
  7. Buy the best and keep it for as long as possible.
  8. Earn enough to work only with people I respect and like
  9. Marry the right person.
  10. Prioritize time outside the spreadsheet.

See also