Money For Couples with Ramit Sethi 179. “He just turned 50 and we have no savings. I’m panicking.”
24 snips
Oct 22, 2024 A couple grapples with $480k in debt and no savings as they approach 50. Differing attitudes toward spending create tension, with one partner panicking while the other avoids the issue. They reflect on costly home renovations and the emotional weight of financial mismanagement. The necessity of teaching kids about money emerges, alongside the need for honest financial discussions. Together, they seek to align their goals and establish a Conscious Spending Plan to alleviate stress and address their financial dynamics.
AI Snips
Chapters
Books
Transcript
Episode notes
The Fries Incident
- Kate recounts an incident where Drew asked for extra fries at a soccer game despite their tight budget.
- This highlighted their differing views on spending and Kate's role as the "gatekeeper."
Early Spending Habits
- Kate and Drew's spending habits differed significantly early in their relationship.
- Drew was a saver, while Kate, a self-proclaimed spender, often struggled to track her expenses.
Wedding Budget Blowout
- Their wedding budget doubled from the initial estimate, a common occurrence Ramit observes.
- Kate's parents helped cover the extra $30,000, setting a precedent for financial reliance.
