Netflix’s new 8-episode docuseries How to Get Rich, hosted by Ramit Sethi, can sort of be thought of as a personal finance version of Marie Kondo’s approach to happiness. The basic idea: Spend liberally on the things you love, and cut costs like a penny-pinching bureaucrat on the things that you don’t.
That idea, from the author of the New York Times bestseller I Will Teach You to Be Rich is, of course, reminiscent of Kondo’s core principle about only keeping the physical items that bring you joy. How to Get Rich, which is currently the #10 Netflix series in the US as of this writing, also has an element of Netflix’s Queer Eye franchise in its execution, with Sethi analyzing each participant’s finances and helping them transform their relationship with money.
“Sethi dives deep into the personal finances of people from across the country to find the root cause of their spending issues and transform their outlook on money — in six weeks,” Netflix explains. “But before meeting them, he gets overly familiar with their cash flow: How much debt is on that Amazon credit card? Do they spend more of their salary than they save? What about that dusty retirement account with no meaningful contributions?”
That transformation, as noted above, unfolds similarly to the way other reality series approach this same kind of dynamic between the expert host and participant. Sethi assesses bank accounts and spending habits, creates a financial blueprint for his clients, and engages in what are often emotional one-on-one chats about the money issues that are causing stress. The result: An action plan that can help the participants start to live better lives, and then a follow-up over the course of several weeks.
According to Netflix, Sethi is also the founder of GrowthLab, a company that helps start-ups with financial management, accounting, and strategic planning. How to Get Rich show participants include a man who has a checking account for his dog, a woman who spends $500,000 on shopping, and a couple involved in a multilevel marketing scheme.