Money For Couples with Ramit Sethi 173. “We spend 113% of what we make—but can’t do anything to fix it” (Part 2)
Sep 10, 2024
A couple navigates the chaos of parenting while struggling with a budget that exceeds their income. They share insights on emotional spending and the impact of clutter on their finances. The discussion emphasizes the importance of cooperation in achieving a unified financial vision. Humorous anecdotes help illustrate their priorities, including balancing necessary purchases for their children with the desire for financial stability. They explore gradual improvements in spending habits and the significance of aligning financial choices with personal values.
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Financial Overwhelm
- Michelle and Ryan feel stuck and overwhelmed by their spending habits.
- They're just trying to survive and describe their situation as "death by a thousand paper cuts".
Missed Saving Opportunity
- Michelle and Ryan didn't prioritize saving when they had a dual income and no kids.
- Ramit highlights that this is the best time for saving due to lower expenses.
Impact of Kids on Finances
- Having kids disrupts pre-existing financial systems, increasing stress and expenses.
- Couples often lack a unified financial system before having kids, making it harder to adjust.
