BiggerPockets Money Podcast

Ramit Sethi’s Life-Changing "Money Conversation" Script for Couples

Jan 7, 2025

Ramit Sethi, author of "I Will Teach You to Be Rich" and a recognized expert in couples' finances, shares transformative techniques for having productive money conversations. He explores the essential 'money types' and how recognizing them can strengthen relationships. Ramit emphasizes the importance of shifting from criticism to collaboration and advocates for regular financial check-ins. He also discusses the 'Middle-Class Trap' and why a rich life extends beyond just accumulating wealth.

01:11:06

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Episode guests

Ramit Sethi

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Quick takeaways

Effective financial conversations require openness and understanding, shifting from conflict to collaboration by recognizing each partner's aspirations.

Creating a safe space for money discussions helps alleviate past fears and promotes honesty about financial goals and dreams.

Identifying each partner's financial personality type enhances communication, enabling couples to devise effective financial strategies that align with their mutual objectives.

Deep dives

Navigating Financial Conversations as a Couple

When partners struggle to align their financial perspectives, it often leads to conflict and misunderstanding. It's crucial to recognize that saying you want to get on the same page is often vague, and both partners may not fully understand what that entails. Instead of focusing on judgments or past grievances, couples should approach financial discussions with an openness to understanding each other’s motivations and aspirations. This shift in perspective encourages a more enjoyable and constructive conversation about finances, transforming the dynamic from one of contention to collaboration.

Intro

4min

Transforming Money Conversations in Relationships

6min

Navigating Financial Dynamics in Relationships

15min

Understanding Money Psychology and Identity

4min

Understanding the Dreamer vs. Optimizer Mindset in Financial Relationships

2min

Navigating the Middle-Class Trap

25min

Understanding Rent Inflation and Negotiation Power

9min

Ramit Sethi, the money and couples’ finances expert, is back! This time, he’s teaching you how to have life-changing money conversations with your partner so you can build a “rich life” together and even FIRE faster! You may know Ramit from his popular book, I Will Teach You to Be Rich, or his Netflix series How to Get Rich, but today, he’s sharing brand new insights, techniques, and lessons from his newest book, Money for Couples!

If you’re a FIRE freak like us, you may have a partner who’s having a tough time getting on the same financial page as you. You see their eyes glaze over as you pull up spreadsheets, talking about compound interest and the savings from switching to non-organic broccoli. We’re sure it’s well-intentioned, but this could be doing more harm than help.

If you want to enjoy getting “rich” with your partner, have more time to do the things you love, and build your wealth as a partnership instead of constantly persuading your other half, this is the episode to catch! Ramit shares his “script” for having crucial money conversations, diagnoses which “money type” you fall into, and gives the steps to escape the “Middle-Class Trap”!

In This Episode We Cover

How to start a “money conversation” with your partner (EVEN if they aren’t into FIRE)

The money dates you must have to get on the same page

The four “money types” and how knowing yours can strengthen your relationship

What the FIRE movement gets wrong about money (it’s not all about dollars and cents!)

Escaping the “Middle-Class Trap” of not being able to retire EVEN when you’re wealthy

The most surprising thing that Ramit has learned about money in most relationships

Why Ramit rents and has NO INTEREST in buying a house!

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets