30. “I want to change—but can I keep the truck?”

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 15 February 2022

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s time to create a plan of action for Brad and Becca’s unsophisticated spending habits that we learned about in part one. I want to get them away from the gimmicks of monthly payments and immediate gratification, and instead push them to carve out a Rich Life vision that goes beyond getting to zero debt. There will be resistance. The question is, will Brad be willing to lean into it, even if it’s uncomfortable to hear? 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	Before we get back to the episode, I want to make sure you know about something that I'm sending out this Saturday.
0:05.0	You know, when I was in my 20s, I spent money like a lot of people in their 20s do going out for drinks, eating cheap food, a little bit of traveling, but in my 40s, my spending looks really different.
0:17.0	And that's totally normal. Have you ever thought about how your money spending changes from your 20s to your 30s of 40s and beyond?
0:25.0	That's what I'm going to talk about this Saturday.
0:28.0	Because as you earn more and as your values change, so should your spending.
0:33.0	Get on my podcast newsletter at IWT.com slash podcast newsletter so I can share what changed in my spending in my 20s, 30s and 40s.
0:42.0	That's this Saturday, October 7th. You can only get this at IWT.com slash podcast newsletter. Now back to the episode.
0:51.0	How much did this truck cost, by the way, the total price of the truck?
0:58.0	50,000.
1:00.0	50,000 dollars?
1:03.0	I got 10 for my trading.
1:05.0	I'm going to impart some directive wisdom. You cannot afford a 50,000 dollar car when you make a hundred and 15,000 dollars.
1:14.0	Okay, you cannot.
1:16.0	This is crazy to me. How did you decide how much money you could afford to spend on this truck when you bought it?
1:22.0	Let me guess. Was it about the monthly payments?
1:25.0	Uh, yeah, ultimately.
1:27.0	Ah, damn it.
1:29.0	This is what I'm talking about when I say you have to change your entire world view.
1:33.0	Unsophisticated people buy things and say, I'm going to put it on credit and then I'll figure it out later.
1:38.0	No more of that.
1:40.0	That's exactly what I do.
1:42.0	Exactly. I'll figure it out later.
	...

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