16. “We’re worth $8 million but I comparison shop for strawberries”

Money For Couples with Ramit Sethi

Ramit Sethi

Investing, Society & Culture, Relationships, Business

0.0 • 0 Ratings

🗓️ 2 November 2021

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

When Chris shops for food online, he compares the cost of almond milk and strawberries to save a few dollars. He spends hours agonizing over the most economical flight routes. He even stopped and picked up a used stroller from someone’s driveway. Chris and his wife Amy have a net worth of $8 million. Their friends call them cheap. They prefer to identify as "money hackers” and have lots of reasons why they behave the way they do. But even with their explanations, they’re not happy with how they’re using money to live a Rich Life. Chris and Amy are optimizers. They optimize points and options, a normal part of the tech culture in which they work. There’s just one problem: It’s making them unhappy! Imagine a world where Chris and Amy didn't have to put price first. Imagine a scenario where they could start with the kind of magical experience they wanted to create -- and use money to make it happen. As you listen, it’s easy to roll your eyes at the amounts of money being discussed. Resist that temptation. Amy and Chris have given us a gift by being so open with their finances and their challenges. I love today's episode because it shows you that if you have money issues today, It's very likely you're going to have the exact same money issues later at a million dollars or 5 million or yes, $8 million. 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 was getting some frozen organic strawberries that I remembered from Whole Foods are like
0:09.9	$7.99 and they're like $15. And I was just like, I can't do it. Because what? It's crazy.
0:20.0	Like that is $7. I can't bring myself to pay two times the price for the exact same
0:26.2	thing. What is your net worth? About $8 million.
0:34.6	Hi, my name is Ramit Saiti and my guests this week are Chris and Amy, a young couple who work
0:40.9	in tech and have a net worth of $8 million. They have already won the game of personal finance.
0:50.2	And yet they behave in peculiar ways with their money. You're going to hear more about that
0:56.6	strawberry story. You're going to hear stories about strollers and traveling and very odd ways
1:05.3	that they behave compared to the amount of money that they have. Now, before you go on, it would
1:12.0	be easy for you to roll your eyes and send me a message about how unrelated this is. Resist that
1:18.3	temptation. I love today's episode because it shows you that if you have money issues today,
1:25.7	it's very likely you're going to have the exact same money issues later at a million dollars
1:31.8	or five million or yes, eight million dollars. Those issues don't magically go away.
1:39.4	Chris and Amy, I think Chris and Amy are actually giving us a gift by talking to me today because
1:46.1	most wealthy people won't talk about their money issues publicly. But Chris and Amy will,
1:52.8	they're giving you a crystal ball into your own future behavior. If you continue doing what you're
1:58.8	doing today, saving and investing and accumulating, you can see one very real possibility of where you
2:06.8	might end up. And remember, you will not hear this kind of discussion anywhere else, except on this
2:14.8	podcast and on my email newsletter. I'm Ramit Saytee and this is I will teach you to be rich.
2:23.7	Chris, can you think of the last time that you spent more than an hour making a financial decision?
2:34.3	Like this morning? Like literally this morning. What was it? We're we're planning a trip
2:43.7	and we're trying to book flights and we're optimizing to a degree that many would think was crazy.
	...

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