You might think of Ramit Sethi’s new eight-episode Netflix docuseries How to Become Wealthy as a personal finance take on Marie Kondo’s philosophy of happiness. The core tenet is to spend lavishly on the things you cherish and save money like a frugal bureaucrat on the things you don’t. It goes without saying that this notion, which comes from the author of the New York Times bestseller I Will Teach You to Be Wealthy, is similar to
Kondo’s fundamental rule about only preserving tangible objects that make you happy When it comes to execution, How to Become Wealthy, which is now the #10 Netflix series in the US as of this writing, also borrows from Netflix’s Queer Eye franchise. Sethi examines each participant’s finances and provides advice on how they might improve them.
According to Netflix, “Sethi digs deeply into the personal finances of people from all around the country to uncover the source of their spending problems and improve their perspective on money—in six weeks.” But before they meet, he unnecessarily familiarizes himself with their financial situation. How much debt is on that Amazon credit card? Do they save more money than they spend on their pay? What about the unused retirement fund that has no real contributions?
As was already said, the transformation proceeds in a manner reminiscent of how other reality shows handle the same type of interplay between the expert host and participant. Sethi evaluates his customers’ bank accounts and spending patterns, develops a financial plan for them, and has frequent emotional one-on-one conversations with them about the financial problems that are stressing them out. As a consequence, the participants received an action plan that can set them on the path to living healthier lives, followed by a follow-up over a period of several weeks.
Sethi is the creator of GrowthLab, a business that aids start-ups with financial management, accounting, and strategic planning, according to Netflix. A man who has a checking account for his dog, a lady who spends $500,000 on shopping, and a couple participating in a multilevel marketing scheme are just a few of the participants on the How to Become Wealthy show.