Money For Couples with Ramit Sethi 124. “We make $113,500. Why do we feel poor?”
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Oct 3, 2023 A couple discusses their financial struggles, including moving often and making short-term decisions. They talk about the impact of small expenses, credit card debt, and the negative effect of monthly payments on their paycheck. The importance of building for the future, childhood memories, and dealing with family conflicts is also explored. The hosts analyze their financial situation, emphasizing the need for changes and a conscious spending plan. Selling possessions, making cuts, and feeling proud of financial accomplishments are highlighted as strategies for improvement.
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The Mattress Purchase
- Bebe and Paul bought a $2,200 mattress on credit.
- They viewed this as "midline," despite needing credit, highlighting their skewed perception of spending.
Paul's Payday Loan
- Paul took out a $750 loan with a 680% interest rate.
- He ended up paying back $3,500, demonstrating the dangers of high-interest loans.
Reasons for Moving
- Bebe and Paul's frequent moves, about ten times in 11 years, stem from family circumstances.
- These include caring for ailing parents and adjusting to unexpected parenthood, adding context to their financial instability.