62. “Why are we waiting for payday if we make $140k?”

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 27 September 2022

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

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Summary

Amy and Andre are 42 and 34 respectively. They make $140k a year, but they admit they’re often waiting for payday. They’re buried in debt and can’t seem to make any progress, which is bringing serious anxiety and stress into their lives. Their biggest issue? Their fixed costs sit at 92% of their total income. We uncover all kinds of solutions as to how they might address this problem, but they struggle to grasp the reality of it all. What’s worse, they submitted their Conscious Spending Plan showing a -2% for guilt-free spending. They not only have no joy tied to their money, but on paper, they show it as a detractor on their lives. This is a serious problem—let’s see if we can get them on the right track. 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	We've buckled down to as bad as far as we can buckle down. We don't even have cable anymore.
0:08.0	And it's not the most fun thing in the world.
0:12.0	Yeah, I constantly feel buckled down.
0:15.0	I don't want to throw Andre under the bus, but I mean,
0:19.0	if I try to talk about money or like get like a partner and things,
0:25.0	it kind of glazes over and just associate.
0:29.0	The debt is the mountain and we're at the bottom and it's always looking up.
0:33.0	There's never, it's almost like the, the sycophess of pushing the rock up the hill
0:38.0	and then it just tumbles down the other side and we're still pushing.
0:41.0	But it seems like the daily conversation is stress and the things we can't do
0:46.0	and the things we have to wait till Friday for payday.
0:49.0	Can I tell you something very candid?
0:51.0	At $140,000 a year, you should not be thinking about payday.
0:56.0	No, it's not at all helping.
0:59.0	Have you ever felt good about money?
1:02.0	No.
1:08.0	How would you feel if you made $140,000 a year
1:12.0	and you were still counting down the days until payday?
1:17.0	That's where Andre and Anear, they're 42 and 34 years old
1:22.0	and they feel hopelessly buried in debt.
1:26.0	As I go through today's conversation, I'm going to ask them what options they think they have
1:31.0	and even though I see lots of options, they don't.
	...

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