meta_pixel
Tapesearch Logo
Log in
Money For Couples

128. “We have $285k in debt. Can we achieve financial freedom in 5 years?” (Part 1)

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.63.1K Ratings

🗓️ 31 October 2023

⏱️ 66 minutes

🧾️ Download transcript

Summary

Trin and Lucas are 35 with two kids. They’re bleeding money but they don’t know why, or how to fix it. Lucas is an extreme entrepreneur, leading to trust issues related to his shocking risk taking and lack of transparency. Matters are complicated further by a fixed-costs percentage of 150%+. This episode is brought to you by: Methodology | Visit https://gomethodology.com/ramit and use code RAMIT for 10% off your first order of Methodology. Babbel | Right now, when you purchase a 3-month Babbel subscription, you’ll get an additional 3 months for FREE. Just go to https://Babbel.com and use promo code RAMIT. Rocket Money | Stop throwing your money away. Cancel unwanted subscriptions – and manage your expenses the easy way – by going to https://rocketmoney.com/ramit. LMNT | Right now, LMNT is offering 8 single serving packets FREE with any LMNT order. This is a great way to try all 8 flavors. Get yours at https://drinklmnt.com/RAMIT. Connect with Ramit Get the Podcast Newsletter and exclusive Q&A about the show Get Money Coaching with Ramit Download the Conscious Spending Plan Get my New York Times best-selling book Get my no-numbers journal Other episodes Instagram Twitter YouTube Submit a question for the newsletter iwt.com/askramit If you and your partner have a money issue and you want my help, I occasionally select a couple to work with, free of charge. Apply for my help here. Produced by Crate Media.

Transcript

Click on a timestamp to play from that location

0:00.0

How do you build wealth in America?

0:04.0

That is where all of this stuff started happening.

0:07.0

A lot of people that had wealth in America

0:09.0

had rental property or a business

0:12.0

or some combination of both.

0:14.0

So I said, okay, why don't I just start a real estate company?

0:17.0

When it all went down, I had to sell everything.

0:19.0

So I took a loss, I sold everything, fire sale.

0:22.0

A lot of poor decisions and transparency

0:25.0

if I'm being completely honest.

0:28.0

You know, I'm a bully.

0:30.0

You know, I heard that. I'm a dictator.

0:32.0

So I start to get defensive.

0:34.0

And for me, it is an emotional thing.

0:37.0

Lucas feels that I am not good with money

0:39.0

and so he doesn't feel like my input is important.

0:42.0

Look at your wife.

0:44.0

What's happening right now?

0:48.0

She's feeling emotional.

0:50.0

She's crying.

0:52.0

And you're telling me about your income projections?

0:56.0

We've been in the deficit for months.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Ramit Sethi, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramit Sethi and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.