These are the $30,000 questions you need to ask yourself if you want to get richer, says personal finance guru Ramit Sethi (and psst: pros say he’s got a point)

No, it’s not about lattes — well, at least according to New York Times bestselling entrepreneur and author Ramit Sethi I will teach you to be rich. If we want to improve profits, we shouldn’t be focusing on things like the cost of coffee, but on bigger issues, he said.he wrote exist Twitter:

“By 2022, stop asking $3 questions and start asking $30,000 questions. Stop worrying about coffee. Focus on: increasing your savings rate, automating investing, asset allocation, negotiating your salary/income, expenses ( cc debt, mortgage interest, 1% advisory fee).” (Good news on this front too: Many savings accounts now pay more than they used to, and you can Check out the best savings account rates you can get right now here.)

Professionals say Sethi is on to something – though they don’t always agree with everything he says. Cristina Guglielmetti, a certified financial planner with Future Perfect Planning, said the example Sethi provided would have a larger overall impact than cutting small expenses, but she recommends some adjustments.

“Housing and cars make up a huge portion of people’s available spending. By making these manageable, you can not only free up cash flow to save, invest or pay down debt, but you can also set expectations for how to live later,” Guglielmetti said.

While it’s a mistake to nickel and eat yourself while ignoring options that will actually change the needle, Guglielmetti advocates rolling back smaller lifestyle expenses to safe spending numbers that allow you to achieve your bigger goals. “You do need to take the time to figure this out, or get a planner to help you do that; the aim is not to have hard limits on different categories, but to be proactive in deciding how to allocate your money,” Guglielmetti said.

On prioritizing big projects, Bankrate chief financial analyst Greg McBride says, “Increasing your profitability, boosting your savings rate and allocating your investments appropriately are essential elements in building wealth over time. By putting more Keeping your savings in your own pocket rather than having someone else pick it up, minimizing expenses will further simplify your job.” Check out the best savings account rates you can get right now here.

Chris Chen, certified financial planner with Insight Financial Strategies, said two of the most important items on Sethi’s list were improving savings rates and investing automatically. “They all have to do with the rule of compound interest that money invested earlier will grow more than money invested later,” Chen said.

What’s more, Chen offers this simple suggestion to help people achieve this goal. “Increase your contribution to your retirement plan. It automatically deducts from your paycheck so you don’t miss it, and automatically invests in your investment choices so it can grow. There are many studies proving that automatic Tax deductions and investments work for people,” Chen said.

But don’t completely ignore the little things, says Andrew Feldman, a certified financial planner with AJ Feldman Financial: “There’s a lot to be said about balancing money and happiness, and if a cup of coffee or a specific small item brings you happiness, then Just a lot of value,” Feldman said. Check out the best savings account rates you can get right now here.

Not everyone agrees with Sethi. Kimberly Palmer, personal finance expert at NerdWallet, says that while focusing on the big financial choices, like where you live and the home you buy, often have the biggest impact on your life, we often make seemingly insignificant ones every day The same goes for the choices we make over time, and how we shop has a big impact on our money. “Making small changes like cooking more meals instead of ordering takeout, or replacing unnecessarily expensive car insurance with cheaper insurance can make a big difference to your financial health,” Palmer said.