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If you’re visiting from today’s Yahoo Finance article on personal finance for young people, welcome.

I’m a recent Stanford grad and this is a blog on personal finance and personal entrepreneurship for college students, recent college grads, and everyone else. (Featured in the Wall Street Journal, New York Times, Boston Globe, US News & World Report Online, etc.)

This blog is me ranting about a few things and trying to get the points across. Getting started is more important than being the smartest person in the room. Making mistakes is ok. Action is more important than reading 50 blogs. Ordinary actions get ordinary results. And there’s a difference between being sexy and being Rich.

Here’s a quick guide to get started:

Some recent popular articles
Conscious Spending: How My Friend Spends $21,000/year Going Out
The $28,000 Question: Why Are We All Hypocrites About Weddings?
Chicken Little and Kooks Who Don’t Know What They’re Talking About
I Hate Indian Network Marketers So Much
Set Smaller Goals: Impress Friends, Get Girls, Lose Weight

Introductory Articles
Why do you want to be rich?
The Best Decision vs. The Financially Smart One
Cheap versus frugal
A big fear I have of this site
2006 Makeover, Step #4: Open your retirement accounts

Investing
Chicken Little and Kooks Who Don’t Know What They’re Talking About
An analysis of 1000+ IWillTeachYouToBeRich survey responses– and some new decisions (Best feedback ever)
Dumb: “Don’t invest; you can’t beat the pros”
All about stocks and bonds
All about mutual funds
Read Warren Buffet’s letters

Personal Entrepreneurship
Set smaller goals: impress friends, get girls, lose weight
Barriers are your enemy
I Hate Indian Network Marketers So Much
We love to debate minutiae
Your College is Not a Technical School
On greed and speed
The Myth of the Great Idea

Miscellaneous
Here are 50 books I recommend
What are we doing on this site?
I bought a tie (I love this post because of how angry the comments are)
Cost vs. value: Why I bought a new car (Sorry guys, but I stand by what I wrote)
Probably one of the best comments this site has ever gotten
Boy am I stupid

Saving
Conscious spending: How my friend spends $21,000/year on going out
Here’s how I set up my financial accounts
Letting your parents manage your money is dumb
The Power of Compounding
Time is NOT money–at least, not yours
Cook at home, you lazy bastard
An Ode to Jim Blomo

Full list of articles
The I Will Teach You To Be Rich Table of contents (hundreds of articles)

How to subscribe

And you can always email me. Thanks for reading.

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19 Comments

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  1. This is a fairly informative blog. I read two of your posts, ” I hate Indian network marketers so much.” It reminded me of my sister’s (and her husband) experience with an unnamed legal plan a couple years ago. It started with excitement and ended with disgust. While I was in college, I was recruited by an unnamed MLM long-distance company. That lasted about 1 month before I got disgusted. My biggest problem: I didn’t want to talk to anyone, especially my friends, about the program. :) The second post, “Your College is Not a Technical School,” reminds of few folks that I worked with in the past. They earned strong grades in college but their application in the workplace was less than noteworthy. Anyways, I couldn’t agree with this statement more…”Getting started is more important than being the smartest person in the room.”

  2. I’m glad I found your blog … I’ve been preaching this same “thing” to my family, friends and clients for years. I am a 28 year old FA adviser for a fortune 500 bank and I see so many people today that just don’t have a clue about there personal finances and don’t care to learn. I too think its a lack of financial education and too many “crappy” products to choose from.

    Shoot me an email … It’s good to hear from someone who thinks rationally!!!

    thanks,

    Shane

  3. I found your site through Yahoo! Finance and am looking forward to reading your articles.

  4. Great summary for newcomers like myself!

  5. I saw your article on yahoo finance, but I failed to see anything new. It seems everything you write is simply a rehash of what everyone else has already written without offering any real advice.

  6. Telling people that buying and holding is the only strategy to becoming wealthy is pretty depressing. The buy and hold mentality is why people relinquish their financial freedom for passive returns in mutual/pension funds, while watching their returns be consumed by management fees. I concur with your general advice, but am disappointed in the most important crutch to securing a solid, financial future: being educated enough to refrain from the complacent mentality of allowing your investment potential to be someone else’s responsibility. Individuals must take the time to simply educate themselves of their conventional and “alternative” investment options.

  7. What makes you an expert?

  8. Good blog so far, keep it up!!

  9. Yep, I saw this too on Yahoo … thank god that there is at least someone out there that can think rationally. I guess that I’m too a preacher of sound financial advice — you know, people giving up the thought of investing just because someone else that they know lost this and that, or that it’s too “hard”. Feel free to visit my blog sometime. Cya!

  10. Eric – Spend a bit of time on this blog reading some of the articles, and you may just be surprised at how many fresh insights there are. A personal favorite is “Barriers are your enemy.”

  11. evie beat me to it, but I concur.

    Before you judge Ramit based on the Yahoo Finance article, take a look at some of his previous postings. Sure, his advice sometimes fits the nice little “invest for the long haul” package that is spewed around personal finance blogs like yesterday’s lunch after a fast rollercoaster ride, but there’s one major difference:

    Ramit’s advice is not only easy to read and understand, it’s also enjoyable to read, too.

  12. I have Ramit on my iGoogle. “Everyday I would think, “Who the hell does this guy think he is?”
    After spending some time reading Remit’s blogs I would say he is a guy you could have fun drinking coffee with for a morning and walk away smarter for the whole experience.

    Our brain fills with knowledge when our eyes are open and mouth shut.

  13. i think that their should be a devoted to teaching college students that they do have money to pay themselves first. They just have to see the light and realize where they can save on certain areas of their spending habits!

  14. Hi there

    I followed your Yahoo Finance article and am particularly impressed by the site. There is a dearth of any creative information for young people who face more debt than ever before through taking on debt for studies etc. I am 24 and a year ago quit my job, hauled all my savings into a dream of travel and now am making plans to pay off my debt but more importantly find a way to earn the same freedon in the future I have enjoyed for the past year. I am from New Zealand and think the need there is just as prevalent as it apparently is in the USA.

    I was going to comment on your ´Indian Networkers´ article but will post separately. Congratulations on exciting some popular debate.

    Josh

  15. Ramit – Thank you for your blog. I have already forwarded the link to many of my friends. The most important lesson for young people to learn is the power of compounding interest. I joke with my seven year old niece that every dollar she invests today would be $510.80 when she retires @ 65. She usually frowns and makes faces at me at that point. Hopefully, one day she’ll ‘get it’, but today, Webkinz are her investment.

    Your point being made that getting into the program of investing is the most important lesson is so simple, yet so many still think “I’ll do it later when I have more time, money, assets, or whatever”. I wish someone had drilled the concept of compound interest into me when I was fresh out of college and making money.

    Keep up the good work!

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