Money For Couples with Ramit Sethi

209. “We bought a house we can’t afford, now what?”

44 snips
May 20, 2025
A young queer couple grapples with the emotional and financial challenges of homeownership, transitioning from renting to buying a house while managing a limited income. They discuss the pressures of financial planning, rising costs, and the need for open communication in navigating their differing views on money. Amidst dreams of family and stability, they confront their debts and explore strategies for teamwork and transparency. With advice on financial literacy and the significance of planning for the future, their journey is both relatable and insightful.
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ANECDOTE

Unexpected House Purchase Story

  • Sunnie and Jazmyne bought a house unexpectedly as a response to political fears.
  • They live paycheck-to-paycheck despite a high combined income of $180,000 and struggle with money talks.
INSIGHT

Homeownership Is Political

  • For marginalized communities, owning property is often tied to safety and political concerns.
  • Historical systemic barriers have shaped the value and fear tied to homeownership.
ADVICE

Run Your Own Home Numbers

  • Never rely on a lender or realtor to tell you how much house you can afford.
  • Calculate total cost of ownership yourself including hidden expenses like maintenance and furniture.
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