250. "We spend 97% of what we make—and can’t stop"
About this episode
Ramit Sethi helps a couple confront their financial challenges as they struggle with high fixed costs and limited savings.
Ramit Sethi of I Will Teach You To Be Rich talks to John and Victoria, a couple in their thirties with three children who own a home they adore in the suburbs of New York. Despite a beautiful house and growing family, their financial reality is grim. They are facing a structural financial problem, with 97% of their take-home pay consumed by fixed costs and less than a week's worth of savings. Ramit helps them confront the deep-seated issues that are keeping them in a constant state of financial precarity, from their avoidance of tough money conversations to inherited money scripts from childhood. Can John and Victoria break free from their cycle of justification and short-term thinking to secure their family's future, or will their dream home remain their biggest financial burden? In this episode we uncover: • How 97% fixed costs lead to a desperate financial situation • The role of a vacation in triggering their mortgage payment crisis • Their alarming "once a year" approach to discussing money • The mental gymnastics behind their Amazon purchases • A revealing peek at their "money wishlist" revealing crazy renovation plans • The shocking truth about their combined total net…
More episodes of Money For Couples with Ramit Sethi
- 257. "We really want a house - but have $0 in savings"
- 256. "We moved abroad for fun. Now we can’t afford to leave"
- 255. "I’m 40 and work 2 jobs. How are we still broke?"
- 254. My $0 to $100k Playbook (full beginners guide)
- 253. "I’m 53, exhausted, and still living paycheck to paycheck"
- 252. "I’m 35, in debt, and spend everything I make"
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