14. “I hide my spending from my husband”

Money For Couples with Ramit Sethi

Ramit Sethi

Investing, Society & Culture, Relationships, Business

0.0 • 0 Ratings

🗓️ 19 October 2021

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Meet Chuck and Mary. With a household income of $450,000 a year, they’re wealthy, but they’re not living A Rich Life. Mary spends money--in secret -- and feels judged when she makes “frivolous” designer bag purchases. Meanwhile, Chuck feels he can’t invest in a personal trainer. Their backstory is revealing. Mary grew up in a large family in Argentina where a bottle of Coca-Cola was an indulgence. When she made it to the States, she never wanted to feel deprived again. Suddenly, her spending takes on a new dimension. To her, a Chanel bag is more than just a bag. They have the money, yet they lack a shared plan. To create a Rich Life, they’ll have to dig into each other’s money clues. Connect with Ramit Website Instagram Twitter Facebook YouTube Linkedin 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	I felt dumb sometimes wanting a Chanel purse as an asset when he's like, that's not
0:13.6	important.
0:14.6	We can put our money, that money and investment, I'm like, I know that, but I still love the
0:18.6	purse.
0:19.6	If we allocate 10 grand a year for you to spend on whatever you want, I have no cares
0:26.4	in the world of what you're spending money on.
0:29.1	It's when you go to 15,000 or seven-year-old, he knows, and he has told me, mommy don't
0:36.2	blow all our money.
0:38.2	I'm frustrated, I can't do more for myself, I feel like I'm working hard and doing a lot
0:44.8	to the family, yet I come last in it, would like to do more for myself.
0:49.9	There's only so much that people can put up with, I mean, it could be years, but it
0:55.0	all is eventually crumbled, if we don't have the same vision and the same plan because
1:00.2	that happened to my parents, you know, they split up in their 60s.
1:09.8	I'm Remi Tseiti, and this is I will teach you to be rich, the podcast.
1:14.2	In this episode, I'm speaking to Chuck and Mary.
1:17.3	Mary's 37 years old, and she's originally from Argentina.
1:21.1	She moved to Los Angeles with Chuck, who's 38, and she still feels guilty that she doesn't
1:27.1	live close to her family anymore.
1:30.0	Their issue is spending.
1:32.8	Mary loves to spend a lot on high-end luxuries, like Chanel bags, and Chuck is starting
1:39.0	to feel like he can't spend any of his money on the things he likes.
1:43.8	By the way, his annual income is $450,000 a year.
	...

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