About this episode

Ramit Sethi helps a couple facing a financial crisis confront their spending habits and emotional challenges related to money.

Ramit Sethi of I Will Teach You To Be Rich talks to Freya and Blake, a couple in their mid-40s with two young children who are facing one of the most urgent financial situations we’ve seen on the show. Together, they earn around $143K a year, but their fixed costs are at 102%, they have $0 in savings, only $180 invested, and more than $96K in debt. Freya applied because she feared they were close to becoming homeless. On the surface, their problem looks like debt. Underneath, it’s avoidance, guilt, lack of partnership, and years of “we’ll figure it out later.” Freya carries the emotional labour of the household and money decisions, while Blake admits he avoids the numbers and tries to solve problems by simply making more money. Ramit helps them confront the reality of their situation, stop tinkering around the edges, and build a radical plan that gives their family a chance to get stable. In this episode we uncover: • Why Freya and Blake are spending more than they make every month • How their fixed costs reached 102% of their income • Why having a $143K income still isn’t enough when there’s no system • The $96K debt number that forces them to face reality • Why Freya feels like…

People in this episode

Host: Ramit Sethi

Guests: Freya, Blake

Topics covered

• financial situation
• debt
• emotional labor
• money management
• partnership
• spending habits

Keywords

• financial crisis
• debt
• savings
• money management
• emotional labor
• spending
• income

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