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January 23 15 Comments latest by NotFooled

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Tomorrow I’m going to tell you 3 stories about friends of mine and one about me. We’re all recent college grads.

The shoe lover. One of them spends over $5,000/year on shoes
The partier. Another spends over $400/week going out (that’s about $21,000/year)
The subscription nut. And the third friend has a Tivo subscription, Rhapsody subscription, cable/Internet connection, gym membership, Netflix account, magazine subscriptions, and a couple of monthly online accounts

The thing is, I agree with all of their spending patterns.

Find out why–and why I just moved to San Francisco, where I’m paying over 2x the rent I used to pay.

Tomorrow on iwillteachyoutoberich.com.

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Posted January 23, 2007 under Saving

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A lot of people want to be rich and I am revolted/happy

Conscious spending: How my friend spends $21,000/year on going out

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COMMENTS: Leave yours...

Cecil January 23rd, 2007: Good teaser. I can't wait!

Brett January 23rd, 2007: Oh I am so the subscription nut.

MissPinkKate January 23rd, 2007: Oooooo, you're such a tease! And it worked- I'm quite curious.

John Wesley January 23rd, 2007: OMG I can't wait !!!!!!!!!!! Pardon the sarcasm, but this promises some interesting logic. I can understand the move to SF but the others (especially the partier) seem a stretch.

marie January 23rd, 2007: you're such a tease!

Keith Cred January 23rd, 2007: I can't wait. Speaking of renting, I would love to hear your thoughts on buying vs renting. Are you throwing your money away by renting? Or, are you saving money due to the reduction in homeowner upkeep. It makes for a great debate.

Ramit Sethi January 23rd, 2007

Keith, I'm renting and have written about real estate investing before. Just do a ctrl-f on iwillteachyoutoberich.com and search for "estate." My views are pretty clear.

Also, I love the aroused reactions from people reading this post. I need to do this more often.

cmontero January 23rd, 2007: I think I know where this is going... :) But, hey, I'm quite curious too!

j January 23rd, 2007: Since you agree witth their spending patterns I'll assume that the $400 a week for partying isn't going largely to cocaine and that "a couple of other online subscriptions" isn't code for "premium porn sites."

Bobby Sukhdeo January 23rd, 2007: I'd definitely like to see where this tease leads !! Hopefully it's not another marketing ploy ;7

greg January 24th, 2007: maybe Ramit is happy because he owns shares in all the companies behind the people's spending?

Blair Christopher January 24th, 2007: I bet I know which one you are. But I won't ruin the surprises. Can't wait to read it in the morning tomorrow. When do you normally post? I know you are is PST (I am in EST).

Dona January 24th, 2007: These expensive stuff like spending lots of money in buying shoes, going to parties and magazine, cable and other subscriptions will not really be so ideal if you don't have much money to spend for it. But if you do have enough money and income to grab all of these expenses, everything will just be a piece of cake.

Enrique January 24th, 2007

Ramit is taking to the bank while people spend on non-sense.

The shares just double.

NotFooled January 24th, 2007

The expenses of these people are probably necessary costs of their (unique) businesses?

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I'm Ramit Sethi.

I'm a recent graduate of Stanford, where I studied technology and psychology. Now I'm the co-founder & VP of Marketing for PBwiki, a wiki startup in Silicon Valley.

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Tomorrow I’m going to tell you 4 stories

Welcome to I Will Teach You To Be Rich, a blog on personal finance and entrepreneurship

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