257. "We really want a house - but have $0 in savings"
About this episode
Molly and Jason, a couple with no savings and significant debt, learn to work together on their financial goals with guidance from Ramit Sethi.
Molly and Jason are 45 and 46, living together with a 2-year-old daughter. They earn $142,000 a year combined. They have $0 in savings, $46,000 in debt, and a net worth of just $4,842. They dream of buying a house, investing in real estate, and retiring early. But when Ramit opens their Conscious Spending Plan, the picture is stark. Fixed costs at 77%. No savings rate. $25,000 in credit card debt in Molly's name that Jason can't fully account for. And a financial system built entirely on Venmo transfers, separate accounts, and crossed fingers. What Ramit finds underneath the numbers is a relationship where one person is managing everything alone, and the other has quietly checked out. Molly researches, opens accounts, tracks the bills, and covers the overdrafts. Jason works, pays rent, and sends Venmo transfers when asked. Neither of them planned financially before having a baby. Neither of them has seen what a real financial partnership looks like. But something shifts. When Ramit shows them that working together they could reach $1.75 million by retirement, something clicks. They stop explaining why things are the way they are and start talking about what they are going to do…
More episodes of Money For Couples with Ramit Sethi
- 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"
- 251. "We own a $1M house but can’t pay for groceries"
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