Their Aggressive Debt Payments and Timeline

Imani (52) and Michael (65) return for Part 2—and this time, Ramit pushes them to find out how fast they can turn things around.

After years of miscommunication, mounting debt, and emotional exhaustion, they’ve finally started tackling their finances together. But when Facet’s retirement scenarios reveal how long their money will really last, they’re forced to confront new tradeoffs: spend less now, retire later, or change their lifestyle entirely. Can Michael step up and lead? Can Imani release control and start dreaming again? Or will their old habits slow their progress before it even begins?

A special thanks to Facet for sponsoring this episode. Right now, Facet is waiving their $250 enrollment fee for new annual members. And if you invest and maintain $5,000 within your first 90 days, they’ll add $300 to your brokerage account. Head to facet.com/ramit to see which membership—Core, Plus, or Complete—is right for you.

(Ramit is not a member of Facet, and he has an incentive to endorse Facet as he has an ongoing fee based contract for cash compensation based on this endorsement. All opinions are his own and not a guarantee of a similar outcome.)

In this episode we uncover:

• Why Michael finally decides to take ownership after decades of financial avoidance

• The moment Imani says she’s “tapping out” if things don’t change

• How they discover Michael’s electronics obsession is more than clutter—it’s avoidance

• The shocking realization that their debt payments eat up one-third of their take-home pay

• How selling off $7,000 of electronics became the turning point for their marriage

• What it felt like for Imani to finally let go of control and let Michael lead

• Why teamwork and a clear plan helped them pay off $6,000 in just four weeks

• How both partners confront what “enough” really means

• The couple’s new shared dream: retiring abroad and living a simpler, freer life

Chapters:

(00:00:03) “I’m angry at Michael, I’m angry at myself”

(00:18:03) “I’ve lost the ability to dream”

(00:34:45) “It’s gotta work”

(00:40:17) “I got the fever to start selling stuff”

(00:51:47) “I could see the cloud starting to separate”

(01:06:29) “I feel excited, inspired, energized”

(01:22:39) Where are they now? Imani and Michael’s follow-ups

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Links mentioned in this episode

• If you want help with your finances, join my Money Coaching program at https://iwt.com/moneycoaching

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• Get my new book, Money For Couples

• Get Money Coaching with Ramit

• Download the Conscious Spending Plan

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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.