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Money For Couples with Ramit Sethi

24. “I’ve saved $0 for my upcoming unpaid maternity leave”

Money For Couples with Ramit Sethi

Ramit Sethi

Business, Relationships, Society & Culture, Investing

4.6124 Ratings

🗓️ 4 January 2022

⏱️ 48 minutes

🧾️ Download transcript

Summary

On paper, saving for maternity leave shouldn’t be an issue for Hannia and Alex. She earns $100,000 a year, but she likes to spend her money as soon as payday arrives. She plays many subconscious tricks (I call it the “Innocent Doe” technique) to justify a $300 drop at Target and her Old Navy credit card debt.  Let’s disregard the distractions. What’s the real reason why Hannia cannot save money? And how is her humble childhood in Costa Rica playing out in her everyday money decisions? Sometimes, advanced financial concepts have to take a backseat to get honest with the numbers—and ourselves. It’s time to get real.  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

Click on a timestamp to play from that location

0:00.0

I buy what I want. And I never look at the prices. That's really making my hands

0:10.2

clammy at the thought of being at the store and like adding the numbers. If it was in my wallet

0:15.6

and it had to be a fun because I wasn't used to having it.

0:21.0

I'm Rebeat Saty and this is the I will teach you to be rich podcast. Today I'll be talking to

0:26.3

Anya and Alex combined they make a hundred and twenty five thousand dollars but they can't

0:31.8

seem to save any money. How do you handle your money if one partner overspends?

0:38.3

Well when I ask why Anya says she has no idea she tells me that whenever she has money

0:44.7

she feels like she has to spend. Now in reality she's using something I call the innocent

0:51.7

dough technique which I'll explain in the episode. Since Anya says she's not good with money

0:59.2

Alex is the one who handles their finances. The reason they came to me is that Anya has

1:05.1

maternity leave coming up and she needs to start saving money now so they can cover their

1:10.4

costs when the time comes. In the episode heads up that I'm going to go deep with Anya to understand

1:16.2

her relationship with money so you're not going to hear as much from Alex and what I discover

1:21.6

about Anya makes a lot more sense once you hear it. My maternity leave that is coming up in

1:28.8

six months I own my own business and if I'm not working I'm not getting paid so we're fine

1:37.6

financially. Alex has started his own business about a year and a half ago and his income goes

1:43.6

up and down and he's like I said he's always been he keeps our finances good and I he's like

1:52.3

a rock financially he saves and I spend. So now the roles have switched and I need

2:01.1

to save for us and especially for the maternity leave that's like my biggest thing right now I'm

2:06.8

I would love to not work for four months we have we have employees we have a nanny and Alex has

2:13.7

an assistant and for me not working for months there's a lot of money not coming in and so I don't

2:19.8

have that money saved up I'm trying to come up with the money I'm trying to learn I think the

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