49. “Our housing expense unexpectedly went up $2K when we bought our first home” (Part 1)

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 28 June 2022

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Elena and Eric are both 25. They live in Toronto, and they make $160k as a household. They love going to EDM festivals and spend thousands of dollars every year traveling to them—it’s their Rich Life! The problem is that they also own a condo that’s draining their savings at a rate of $2k every month. They’ll be broke in two years. Before this call, Elena and Eric made a pact that they would NOT consider selling their condo, no matter what I said. But we learn that they’re committed to keeping the condo for all the wrong reasons. What will it take for both of them to see the truth in their error? To admit a mistake and commit to moving on as a team? First, we need to see if either of them are even willing to budge on the subject. 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

Click on a timestamp to play from that location

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'm sending out this Saturday.
0:06.4	Have you ever wondered how to use your money to buy back your time?
0:09.9	This is something that people love to talk about, but very few people actually spend their
0:14.6	money to get their time back.
0:17.4	I want to show you 20 ways to buy your time back this Saturday from all areas of life
0:23.2	and all different income levels.
0:25.9	This Saturday, September 23rd, you can only get it at iwt.com slash podcast newsletter
0:32.3	that's 20 ways to buy back your time.
0:34.4	I'm going to show you this Saturday.
0:36.1	Now let's get back to the episode.
0:38.7	Eric is making $20,000 more than what he was making last year, and we're still not
0:48.0	saving at all.
0:50.1	We are kind of just living paycheck to paycheck.
0:52.4	We really thought at the beginning that worst case, we're going to have a lifestyle change.
1:00.6	And I think we've come to realize we are in the worst case right now.
1:05.9	I'm wondering if we have to sell their condo.
1:09.4	I think I'd rather take the hits.
1:11.7	We'd have everybody breathing down our neck.
1:13.9	And it's embarrassing to think about that like we just made a $770,000 mistake.
1:21.5	We really think we should try to sell this condo.
1:25.7	I'm not telling you you have to sell, but I am telling you you're going to go broke in
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Ramit Sethi, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramit Sethi and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.