173. “We spend 113% of what we make—but can’t do anything to fix it” (Part 2)

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 10 September 2024

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Michelle, 42, Ryan, 43, return for a deep dive into their Conscious Spending Plan. They spend $763 a month on Target, $1,185 a month on Amazon, and $1,230 on groceries—carrying a fixed-costs percentage of 113%. Drastic changes are needed, but Michelle isn’t convinced anything can be done to save their outlook. This episode is brought to you by: 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. ZocDoc | Download the ZocDoc app for FREE at https://zocdoc.com/ramit then find and book a top-rated doctor today. Babbel | For our listeners only, get 60% off your Babbel subscription at https://Babbel.com/ramit. Trust & Will | Secure your assets and protect your loved ones. Get 10% off plus free shipping on your estate plan documents by visiting https://trustandwill.com/ramit. Links mentioned in this episode • “We saved for retirement but have no money to spend NOW” (Part 1) Connect with Ramit • Pre-order my upcoming book: Money for Couples • Get the Podcast Newsletter and exclusive Q&A about the show • Sign up to attend a live event on my book tour • 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 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	If you're in the New York tri-state area, please listen up.
0:02.8	I'm looking to coach more couples live in person on this podcast.
0:07.2	If you and your partner want to be personally coached about a money disagreement that you have,
0:12.0	I'd love to work with you.
0:13.2	Whether you can't get on the same page with your spending, one of you has tons of debt,
0:17.0	maybe you're about to have a huge life change, like a baby, a promotion, a career change,
0:21.6	and you are stuck on how to handle the financial side of it and you live in
0:26.1	the New York tri-state area I want to hear from you please apply at iwt.com
0:32.1	slash apply that's iwt dot com at I WT.com. W.T.com.
0:35.0	slash apply.
0:36.0	We are stuck. We stop dreaming.
0:38.0	Most days I'm just trying to survive.
0:40.0	It really is death by a thousand paper cuts.
0:42.0	I think big changes need to be made.
0:44.0	I'm a little afraid to make them.
0:45.0	In part two of my conversation, what would be the word to describe this situation of your household?
0:50.0	Chaos.
0:51.0	It's too much stuff.
0:52.0	They have way too much stuff. They have way too much stuff.
0:53.1	They have three young kids
0:54.6	which command most of their spending.
0:56.7	This one is water shoes, baby wipes,
	...

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