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Money For Couples with Ramit Sethi

23. “I live in constant fear that our $425k income isn’t enough”

Money For Couples with Ramit Sethi

Ramit Sethi

Business, Relationships, Society & Culture, Investing

4.6124 Ratings

🗓️ 21 December 2021

⏱️ 51 minutes

🧾️ Download transcript

Summary

Lauren and Alex bring in $425,000 a year, and they’ve just invested in a $1.3 million dollar home. Alex feels like they’re flying high, but Lauren’s lost her sense of security. She wants to save for a beach house in Carmel, not invest in double-glazing windows. Their savings plan has gone awry, and all she can hear is her father’s phrase “It’s not how much you make, it’s how much you save” every time they have to make a big purchase.  What is stopping Lauren from being more secure? Listen for the cues. Do you think buying a shack on a beach will really wash away her deep-rooted financial fears? 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

It just feels insurmountable right now because we have this new mortgage for cars.

0:10.1

Are we both making a lot of money?

0:12.2

We are, but it still doesn't feel like enough.

0:16.6

Getting into the house, there was more things that needed to be fixed.

0:22.3

More than met the eye originally, and it was overwhelming to me.

0:27.0

I felt that same horrible feeling like, oh gosh, the spigot has been open.

0:32.4

The money spigot, and it's never going to stop, like the faucets never going to stop.

0:36.2

I said, no amount of money that we make will make you feel secure, because if we're making

0:42.8

a million dollars a year, you're going to think, oh, we need two million or a million

0:48.8

and a half.

0:49.8

And it's just going to keep escalating.

0:51.5

I feel like I'll be complete if I can buy this beach house.

0:58.0

How do you talk about money with your partner?

1:01.1

When the two of you can't even agree if you're doing well or not?

1:05.4

Today, meet Lauren and Alex.

1:07.8

Lauren is worried about money.

1:10.4

She's constantly feeling like they'll never have enough.

1:13.8

And ever since they bought their new house, all she sees is expense after expense.

1:19.8

And now she started to resent the house, because every payment they make is one less dollar

1:25.4

she can save towards what she really wants, and that is a beach house.

1:31.0

She even tells me, I won't be happy until I finally get that beach house.

1:37.0

Alex can understand why Lauren feels scared about money.

...

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