80. “If I add any more to our $50,000 credit card debt, he will ask for a divorce” (Part 1)

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 31 January 2023

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

Sarah and Kevin are 38 and 42. They sold their home to pay off $130k in debt, only to dig themselves another $55k hole, six months later. Sarah is worried that if she doesn’t stop her credit card spending, Kevin will ask for a divorce. We need two episodes to untangle their complicated situation. Connect with Ramit Get Money Coaching with Ramit Download the Conscious Spending Plan 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. Produced by Crate Media.

Transcript

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0:00.0	I'm speechless.
0:04.0	Yeah.
0:05.0	You paid off $130,000 of credit card debt six months ago,
0:12.0	and now you have $50,000 of credit card debt just six months later.
0:17.0	Yeah.
0:19.0	Whoa.
0:20.0	You need something that works because nothing's working.
0:23.0	Like working through how not to repeat past mistakes because we
0:28.0	throw out a plan, but we always seem to get back to where we were.
0:33.0	Because we both have the goal, like we're committed to wanting to build a house
0:39.0	and wanting to travel and it's our rich life.
0:42.0	But we don't have a common plan to get there.
0:46.0	This is a generational issue, I think, on both sides.
0:50.0	And now as a mom and as a wife, I'm breaking that.
0:58.0	Meet Kevin and Sarah.
0:59.0	He's 42.
1:00.0	She's 38.
1:01.0	They have accumulated $200,000 of debt.
1:05.0	Then they sold their house to pay it off.
1:08.0	And now they're finding that those old habits are coming right back.
1:11.0	I went back to their application when they initially wrote into me.
1:15.0	And I found a line that I'd like to share with you.
	...

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