243. "She inherited $171K…but it’s already gone."

Money For Couples with Ramit Sethi

Ramit Sethi

Relationships, Business, Investing, Society & Culture

4.6 • 3.1K Ratings

🗓️ 13 January 2026

⏱️ 89 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ramit Sethi of I Will Teach You To Be Rich talks to Mike and Noel, a young couple who are both 34. They married just 6 months ago, but financial fights have become a daily occurrence, even after receiving a $170K windfall. Mike blames Noel for overspending, but admits they both struggle with money, while Noel views the windfall as "guilt-free" spending. With $244K in debt, zero savings, and 82% of their income going to fixed costs, Ramit helps them uncover the root of their money woes. Will they finally get on the same page, create a financial system that works, and learn to trust each other with money? In this episode we uncover: • How Mike’s money anxiety leads him to check his bank account 20 times a day • The shocking truth about their $170K windfall • Why Mike’s anxiety worsens when he makes more money • The one money rule Mike and Noel both broke • How Mike’s upbringing shaped his money habits • Why Noel feels like she's "drowning" and has no control over their finances • The spending categories that reveal their money psychology • Why Mike's "money is mine" mentality is holding them back • Noel’s struggle to “hand over her paycheck” • The credit card debt that keeps piling up • Ramit’s radical approach to cutting fixed costs • The “Glade Plug-in” budget that explains everything • Noel’s difficult decision about tithing and faith • Why benchmarking against past mistakes is a recipe for disaster • The truth about their approach to money Chapters: (00:00:00) “We just kinda like get whatever we want whenever we want it” (00:07:02) “I was stressing more than ever before” (00:14:04) The one money rule they both broke (00:24:29) “You treat me like a child” (00:32:39) Ramit identifies their “money leaks” (00:39:34) “I don’t want to hand over my paycheck” (00:47:30) “My goals are not being met” (00:55:38) The “Glade Plug-in” budget (01:00:03) “I do wanna have a Glade budget” (01:06:50) How Mike’s upbringing shaped his money habits (01:15:10) Ramit shares his radical advice (01:21:10) Preview for part two This episode is brought to you by: Bilt | Join the loyalty program for renters at https://joinbilt.com/ramit Wispr Flow | Try Wispr Flow for free at wisprflow.ai/ramit Gelt | Book a tax consultation with Gelt at https://joingelt.com/ramit. As a member of my community, you can skip the waitlist Netsuite | Get the free guide “Demystifying AI” at https://netsuite.com/ramit Fabric by Gerber Life | Join the thousands of parents who trust Fabric to protect their family. Apply today in just minutes at https://meetfabric.com/ramit Connect with Ramit Get my new book, Money For Couples 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: https://iwt.com/apply

Transcript

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0:00.0	This year, we are launching a brand new series called The Rich Life Expert Series.
0:06.2	I'm going to be inviting people who I trust to teach you an important skill or a habit or a mindset
0:11.8	that's going to help you live a rich life.
0:14.8	First on deck this January, nail your next interview with Michael Gendler.
0:19.5	Michael is the co-founder of ultra-speaking,
0:21.7	the fastest and most effective way to prepare for high-stakes speaking situations,
0:26.4	think pitches, interviews, executive meetings, presentations,
0:29.2	all those things that we often freeze up around.
0:32.2	He's worked with Fortune 100 execs, best-selling authors.
0:35.2	Personally, when I met him and talked to him and we started going
0:38.5	back and forth on how to prepare for an interview, I was very impressed. You can watch live
0:44.7	one-to-one coaching as people go from rambling to compelling in real time. So if you have a high
0:52.5	stakes approach that's coming up, landing a new job, starting
0:55.9	your own business, appearing on TV, or just wanting to be better at communication, you want to
1:02.2	attend this. You can join us January 27th at 12 p.m. Eastern to learn more, and you can register for
1:08.2	free today to reserve your seat at IWT.com slash interview.
1:13.6	That's IWT.com slash interview to lock in your spot.
1:18.0	We just kind of like get whatever we want, whatever we want it.
1:21.0	I think it's been twice where I've had over $20,000 for the credit card debt.
1:26.2	I'm literally spending $150 to $200 a month on Glade Plugins for our house. Is this going to be the first time I violate my own rules? Deep down, I want security, and I just haven't been able to find it. I've very much treated the money that I've made as mine. Truly, like, I've never considered it our money. That's when I just kind of realized
1:44.8	we're like, oh, we are super screwed. You've mentioned a windfall. It was $170,000. How much of the
1:51.8	money is left? None of it. You have no savings. You don't have enough to even get one day
	...

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