252. "I’m 35, in debt, and spend everything I make"
About this episode
Ramit Sethi helps a couple confront their financial struggles and improve their communication about money.
Ramit Sethi of I Will Teach You To Be Rich talks to Lina, 35, and Mike, 28, a married couple living in South Florida with their 8-month-old son. Despite earning almost $200,000 annually, they've been entangled in debt since their wedding three years ago. They consistently make plans to conquer their financial woes but never follow through. Their debt has soared to over $750,000, and their fixed costs devour 98% of their take-home pay, leaving them with zero savings. Lina attributes their financial struggles to unexpected events, like her pregnancy, which led to her cutting back on work and an increased focus on comfort and convenience, regardless of the cost. Mike, an accountant, has largely deferred to Lina, resulting in a fractured approach to their shared finances. They both use "comfort" as a justification for their spending, avoiding "sacrifice," yet this mindset is driving them toward a financial cliff. Can Ramit help them confront their real numbers, bridge their communication gap, and finally unite as a financial team to build a rich life? In this episode we uncover: • Why Lina's comfort-first approach to spending is unsustainable • Mike’s "happy wife, happy life"…
More episodes of Money For Couples with Ramit Sethi
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- 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"
- 251. "We own a $1M house but can’t pay for groceries"
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