This Is the Most Important Financial Advice You Need to Hear Right Now | Ramit Sethi

8 Views· 06 Oct 2021
Tom Bilyeu

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Right now a lot of us are suffering economically, and we need solid advice on money that covers all aspects of personal finance--strategies that go well beyond silly guilt trips about buying lattes. On this episode of Impact Theory with Tom Bilyeu, Ramit Sethi, founder of, shares powerful advice on how to make it through the most severe recession in decades. He details a plan of action that will help you nail any job interview, discusses ways to immediately reduce debt or at least postpone payments, and explains how to build up an emergency savings fund so you can weather the coming storm.


Why you need to accept reality, make a plan, and build up a 1 year emergency fund [1:29]
Ramit explains how to save significant amounts of money right now [4:45]
What to do if picking up the phone scares you [7:27]
How to go on offense when it comes to cost-cutting [10:25]
What government programs are available to people struggling now? [15:26]
Ramit talks about why you should not chase interest rates [18:43]
Ramit explains why you should only invest for the long term [19:45]
Ramit recommends that people not invest until they have a 1 year emergency fund [22:27]
Ramit and Tom discuss making the changes you must make without any shame [24:15]
It doesn’t matter what you look at. It matters what you see. [28:31]
Ramit shares advice on how to get a job if you are unemployed [33:07]
You must take care of yourself and your family first [38:46]
Ramit describes the one change he would recommend people make right now [43:02]


“Money in your pocket now is worth more than money in your pocket later.” [6:10]

“It’s so rare to hear about someone going on offense with their money. Most often, like 99% of the time, people are playing life on defense, especially with their money.” [12:22]

“Your mind will always play from a position of safety, not excellence.” [32:42]



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