Ramit's Money Automation
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Ramit Sethi's money automation system focuses on automatically distributing income to various accounts for efficient money management and wealth building.
Core Money Rules
- Maintain 1 year of emergency fund in cash
- Save 10% of gross income
- Invest 20% of gross income
- Put 20% minimum down payment on a house
- Pay cash for large expenses
Never Question Spending On:
- Books
- Appetizers
- Health
- Friend's charity fundraisers
- Business class flights (over 4 hours)
- Education
Automation Setup Process
- Income flows into main checking account
- Set up automatic transfers to different accounts:
- Wealthfront
- Mutual funds
- Coinbase
- Other investment vehicles
- Configure ACH connections between accounts
- Set target amounts for checking account balance
- Schedule regular intervals for transfers based on income timing
Benefits of Automation
- Removes manual effort from money management
- Ensures consistent investing and saving
- Maintains target checking account balance
- Reduces decision fatigue around money movements
- Creates systematic wealth building approach
Implementation Tools
- Wealthfront auto-saver plans
- ACH connections between accounts
- Automatic investment plans through brokerages
- Recurring transfer schedules
- Target balance maintenance in checking
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
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Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.