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Money For Couples with Ramit Sethi
176. “I’m 8 mos pregnant. He only wants to talk about how much the baby will cost”
Oct 1, 2024
Jason, a 40-year-old COO, and Megan, a 34-year-old flight attendant, navigate the financial maze of impending parenthood. Despite a $3M net worth, they grapple with credit card debt and lack of financial cohesion. The duo discusses the stresses of maternity leave, childcare costs, and the emotional toll of financial planning. They reveal the complexities of budgeting as a couple, emphasizing the need for open communication and effective money management to prepare for their new arrival.
01:24:59
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Quick takeaways
- A conscious spending plan can reveal underlying issues in a couple's financial dynamics, highlighting the impact of past decisions on current stress.
- Open communication about financial expectations is vital for couples, especially when facing significant life changes like parenthood, to avoid tension.
Deep dives
Understanding Conscious Spending Plans
A conscious spending plan (CSP) highlights the financial dynamics within a couple, illustrating why they might feel anxious about money or trivial disputes over small purchases. Couples often express concerns such as whether they have enough savings for retirement or how to establish an emergency fund. By examining their CSP, one can uncover underlying issues tied to spending habits, priorities, and how well they are aligned financially. The example of a couple preparing for a baby shows how past decisions impact their current financial stress, illustrating the interconnectedness of their goals and financial health.
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highlights
Listen to the best highlights from the podcasts you love and dive into the full episode