156. "We have 2 kids, 3 cars...but only 1 month of savings" (Part 2)

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 14 May 2024

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the second half of this live-recorded conversation with Paul and Morgan, 37 and 33, we dig deeper into their Conscious Spending Plan to uncover three cars (for two adults), sporadic debt management, high pet care costs, hidden student loans, and what seems like no way out from under it all. This episode is brought to you by: Hatch | A million things don’t want you to sleep, Hatch does. Get $20 off a Hatch Restore at https://hatch.co/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. ZocDoc | Download the ZocDoc app for FREE at https://zocdoc.com/ramit then find and book a top-rated doctor today. Masterclass | For unlimited access to every class and 15% off an annual membership, go to https://masterclass.com/ramit. Fabric by Gerber Life | Protect your family today with Fabric by Gerber Life. Apply today in just 10 minutes at https://meetfabric.com/ramit. Links mentioned in this episode • “We have $22k in cc debt—but I want to renovate the house” (Part 1) Connect with Ramit • Get the Podcast Newsletter and exclusive Q&A about the show • Get Money Coaching with Ramit • Download the Conscious Spending Plan • Listen to my book—now on Audible • 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	I'm coming to your cities. I recently did an event in New York. It was awesome. I loved
0:04.4	bringing real couples up on stage. We had no idea what was going to happen. The
0:08.3	crowd loved it. I was sharing real numbers. It was a blast and I want to do it again. I'm looking to coach
0:13.9	couples on stage at my next two live events one in Philly on June 1st, one in Boston
0:19.2	on June 4th. If you and your partner want help connecting over money, you want to solve a big
0:24.2	financial challenge you have, please apply at iwt.com slash live coaching. If you and
0:30.2	your partner struggle to come up with a shared vision of your rich life, if you have different
0:34.0	priorities about spending and saving, if you just can't get on the same page financially,
0:38.1	I would love to coach you live on stage in your city.
0:41.9	It is free of charge. You can apply at iwt.com slash
0:45.9	a live coaching i'll see you in Boston and Philly
0:52.3	what happens if it doesn't last?
0:55.0	We fall more into debt or have like a bigger issue.
1:00.0	And then, then have to make emergency drastic decisions.
1:07.0	Yeah, or affects our family.
1:09.0	Like what, I guess selling the house or foreclosing on your house not having a place like bankruptcy I guess right?
1:17.3	I don't know. Our lifestyle would change drastically like I can't carry the weight of this anymore and like our relationship
1:26.4	would probably crumble apart. I want like big changes. Tell him. I want big changes. big changes.
1:34.0	Okay.
1:35.0	So, pick something...
1:37.0	I don't want it to be on me.
1:39.0	Okay. Welcome back to my conversation with Paul and Morgan. Paul's 37, Morgan is 33.
	...

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