Ramit Sethi: How To Tell If You’re Cheap
Written by
Adam Palasciano
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Cory Dudak
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Have you ever considered whether or not you’re “cheap?” Do you look to save every penny and cut corners just to save a few bucks? If others have confirmed these notions, this might mean that you’re a true cheapskate. However, there is a better way to live.
Ramit Sethi, host of Netflix’s “How To Get Rich,” New York Times bestselling author, and host of the “I Will Teach You To Be Rich” podcast, shared his thoughts on TikTok about how to know if you’re cheap or if you’re a conscious spender.
How To Tell If You’re Cheap or a Conscious Spender
A cheap person is someone who tends to have a scarcity mentality when it comes to money and focuses on saving above all else. On the other hand, a conscious spender sees the value in certain things and will happily spend on what they value.
Here’s how to tell if you’re cheap, according to Sethi:
- You believe that the point of money is to spend as little as possible.
- You’re obsessed with price.
- You constantly talk about how little you spent on something.
Here’s how to tell if you’re a conscious spender, according to Sethi:
- You look at the value of spending money.
- You spend very little on the things you don’t care about, but you happily spend more on things you enjoy.
- You understand that sometimes you have to spend a little money in order to live harmoniously, to be happy or to live a rich life.
Sethi explained the key to living a “rich life” is to deeply understand where it makes sense for you to spend more and understand the areas where you do not want to spend. He prefers to see people living a rich life rather than being cheap.
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