46. “The ghost of FIRE still haunts our money mindset—we can’t enjoy money”

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 7 June 2022

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carolyn and Gavin have been married for ten years. They have three small children and bring in about $130k annually—with a healthy $500k in investments. So what’s the problem? Once we look closer, specifically at their obsession with money mechanics, we see a deeper issue. They learned these bad habits as members of the FIRE community, a lifestyle they’ve left behind but that continues to haunt their money mindsets to this day. To make matters worse, Carolyn has disassociated from the family’s money conversation completely. How do you work as a team when one member refuses to participate? And how can you reset your instincts related to saving and spending after so many years repeating bad habits? Listen in to find out. 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	Hey, before we get back to the episode, I want to make sure you know about something that
0:03.6	I am sharing this Saturday.
0:06.1	Every year, my wife and I take a mini sabbatical.
0:08.8	It's four to six weeks of traveling.
0:11.5	We've gone to Japan, India, Paris, London, and a bunch of other places.
0:15.6	And this Saturday, in my newsletter, I'm going to share how we do it, how we decide where
0:20.2	we're going, how we make it an unforgettable experience, and even how I set up my logistics
0:26.5	so that my business can run without me being there.
0:30.3	If you've ever thought about traveling more or even taking a sabbatical, I want you to
0:35.0	sign up at IWT.com slash podcast newsletter.
0:39.9	This Saturday, September 30th, you can get this new newsletter that I'm sending out only
0:45.5	at IWT.com slash podcast newsletter.
0:48.6	Now let's get back to the episode.
0:50.4	There wasn't as much joy in money, in savings, in finance, that there should be.
0:57.6	Basically, I tried to get everyone around me involved in the fire community.
1:02.4	That's my special help.
1:03.9	I've always just thought of it as a mechanical thing.
1:06.5	If you make money, you save money, you invest money, then you spend it on groceries,
1:12.6	or a trip or whatever.
1:14.7	It's always been extremely mechanical for me.
1:16.8	The idea of putting all this emotion into it, even when you spend it on something fun
1:23.4	is just very foreign to me.
	...

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