Money For Couples with Ramit Sethi 161. “He hid $77k in CC debt from me—but can’t tell me what he bought”
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Jun 18, 2024 A couple discusses hidden debt, family influences on finances, and financial transparency in relationships. They explore trust issues, productivity tools, and navigating financial challenges together. Personal stories highlight the importance of open communication and honesty in managing money.
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Hidden Debt Discovery
- Dana discovered Jim hid $77,000 in credit card debt, initially claiming it was $20,000.
- He couldn't explain where the money went, leading to a sense of betrayal for Dana.
Jim's Spending Habits
- Jim accumulated debt by covering living expenses, home repairs, and cattle farming losses.
- He also spent on trips, gifts, and clothes, struggling to adjust to a lower income.
Underlying Issues
- Jim's desire to provide and Dana's assumptions about his financial stability contributed to the hidden debt.
- The incident highlights the importance of open communication in relationships.