The Book I’m Handing My Teenager This Summer: “I Will Teach You to Be Rich”
A Financial Literacy Book That Works for Beginners & Late Bloomers Alike
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We’ve talked before about how real self-care isn’t always bubble baths and candles — sometimes it’s the hard thing, the avoided thing, the thing that actually lightens the load. Facing your finances is one of those things. And this book will help you do it.
“I Will Teach You to Be Rich” by Ramit Sethi sounds odd for The Held Edge — like a get-rich-quick scheme or a guide to becoming a millionaire overnight. It’s not. It’s a map of the how and why of basic financial life skills and mindsets. It provides knowledge about how the financial world actually works, paired with a no-BS, in-your-face approach that makes you ask hard questions of yourself. This book is perfect for this space — sometimes uncomfortable, but exactly what needs to be said.
In the introduction, Ramit begins by noting that most people talk about their finances without ever actually changing anything — a cycle he calls decision paralysis. When given too many strategies and options, we often don’t start at all. This book’s 6-week approach allows you to go step by step through reviewing where you are and where you want to go.
One of my favorite parts of this book is how he distinguishes between being cheap and being frugal. Being cheap is survival, not strategy. Ramit notes that those who are frugal know what they prioritize and spend money on it — on the quality of the item they value. One story he shares is about a woman living in a modest apartment because she loves shoes. She spent less on accommodations and more on her shoe collection. Cheap, on the other hand, squeezes everyone indiscriminately, including yourself. Frugal is a choice with direction — you know what you want and let other things go to get it. Cheap people will skimp on tips because they spent too much on dinner.
I once was cheap — not by choice, but by survival. I bought the cheapest version of whatever I needed just to get through, knowing it wouldn’t last, knowing I’d be back buying it again. That’s not frugality. That’s treading water and calling it swimming. We can’t have it all in life — if we want to be frugal, we will be honest with what really matters to us, making decisions instead of excuses.
Whether you are 16, 25, 40, or 60, this book has something for everyone. Obviously, the younger you start, the better off you are, but you are never too old to start. It helps guide readers through choosing a bank, building a payment schedule, and setting up different types of investment accounts. This is something I think every teen should read once they get a job. Not only does it have these practical guides, but Ramit also discusses the value of different college degrees and financing options. In fact, I plan to have my 16-year-old read it and help him choose investment accounts he is eligible for. If you are older and just starting, or starting over, he lays a great framework for where to begin.
Beyond the foundation, Ramit goes deep — taxes and the myths most people believe about them, how to invest on your own without an expensive advisor eating 28% of your returns in fees, an annual financial checklist to review your whole system, how to negotiate a raise, buy a car, plan for a wedding, and decide between renting and buying. It is dense in the best way.
Something most money books skip entirely: how to actually talk about finances with the people you love. Ramit offers a framework for it — start with shared goals, not dollar amounts; lead with your own struggles before pointing at anyone else’s; and when tension rises, point at the plan, not the person. That last one alone is worth the price of the book.
Ramit’s main goal throughout the book is to help the reader define what their personal “rich life” looks like. But here’s what I appreciated most: his goal is not to have you living inside a spreadsheet. It’s to make you ask — what actually gets you excited? What does your rich life look like? Money is the tool. Your life is the point.
Whether you are in the Held stage and surviving on the cheapest fix, in your Becoming stage and noticing you have permission to choose, or in the Ascent where you are spending and sacrificing intentionally in line with what you actually want — this book will meet you where you are and help lead you to your “rich life.”
If you want to broaden your self-care and break cycles of financial stress or avoidance, this book will help you get started and gain momentum. Ready to stop just playing the game and ask yourself what you are actually playing for, pick up “I Will Teach You to Be Rich.” To take it a step further, grab the workbook that goes with it and join me as I work through it over the next few months.
Pickup “I Will Teach You to Be Rich” and the Journal on Amazon or support independent bookstores via Bookshop.org.
