RAMIT SETHI

SELF-MADE MILLIONAIRE REVEALS WHY HE ONLY USES 2 CREDIT CARDS

Published By Misha Oberoi | 21 Jun, 2024
Born to Indian immigrant parents, Ramit Sethi is a financial advisor and the bestselling author of 'I Will Teach You to be Rich'. He also runs a podcast by the same name.
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Sethi, a Stanford University graduate, released his book in 2009. Since then, he has launched numerous courses and created a bulk of content catered towards teaching people how to live a "rich life."
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In a recent interview with CNBC, Sethi talked about why he doesn't focus on earning credit card points and only uses two cards on a daily basis. 
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Fighting for Simplicity

Sethi said he believes in simplicity when it comes to finances. Having to keep track of more than two credit cards "overcomplicates" things, he said.  
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Sethi uses two cards for his personal finances: one for travel rewards and one that gives cash back. 
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Credit Card Rewards

He said that instead of spending hours trying to maximize credit card rewards, people should focus on allocating money towards other things. 
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Spend Money

He suggests spending money on four categories instead: fixed costs like rent payments, savings, investments, and guilt-free spending like eating out or shopping. 
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Sethi calls this the "conscious spending plan" and said it ensures people first fulfil their financial duties and then spend money for leisure. 
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