132. “We’re $520k in debt—and he hid it from me”

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 28 November 2023

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Cassandra, 40, and Aldo, 41, discovered Ramit on Netflix—which quickly led to Cassandra discovering the gruesome details of their debt. His goal was to shield her from stress. What he’s done instead is hide incalculable credit card balances, lose thousands on meme stocks, and so much more. This episode is brought to you by: Mint mobile | To get your new wireless plan for just $15 a month, go to https://mintmobile.com/ramit. Inside Tracker | Get 20% off by going to https://insidetracker.com/ramit. Methodology | Visit https://gomethodology.com/ramit and use code RAMIT for 10% off your first order of Methodology. 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

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0:00.0	We were getting ready to start the next episode and I looked over to Aldo and I said, how much
0:09.3	that are we in? Because I literally have no idea when he wrote it all down I almost fell off the chair like I was
0:18.8	floored. I didn't know that everything basically was being charged on credit cards and loans and things.
0:27.0	It's in, I guess, collections we haven't been paying it for the last few months,
0:32.0	and that scared the crap at me and I was like
0:37.1	why I felt like a little bit of like a false sense of security.
0:44.0	You know, for me it was eye-opening as well. I mean, I should know better.
0:49.0	He's the financial guru. He works in finance. He knows all of this stuff I have friends that go to him for
0:56.4	financial advice so never would I have ever thought I we would be in this in this predicament so I was very shocked and I haven't
1:07.0	really slept that great since all of this has come out. Here's the scenario. Cassandra and Aldo, 40 and 41 years old. They have
1:19.7	two kids, 17 and 10 years old. They're sitting on the couch looking for something to watch, they
1:25.6	stumble across my Netflix show How to Get Rich. They start watching, surprised that they're
1:31.0	really into this money show. And soon she leans over and goes hey how much
1:35.4	debt do we actually have Aldo the money guy in the relationship tells her and she is
1:41.8	shocked that's where our story begins and as you listen to today's
1:47.9	conversation I want you to be compassionate because so many of us think that we're rational robots when it comes to our money.
1:56.0	But listening to Cassandra and Aldo is actually a reminder that most people really don't pay that close of attention to their money and you're going to
2:05.0	find out what happens when they realize the costs of ignoring their finances.
2:11.2	Now before we dive into this episode I want to let you know a little secret for the last four
2:15.8	weeks I have been traveling the world only working one hour per week. You probably did not notice
2:21.6	because while I was in India, Italy, and Mexico, this
2:25.0	podcast released a new episode every Tuesday. Social media posts went out,
	...

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