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278. "We spend 108% of what we make. Are we screwed?"
Ramit unpacks how to stop overspending, take control of your money as a couple, and prepare financially for starting a family.
Ramit Sethi of I Will Teach You to Be Rich talks with Grace and Chris, who are 30 and 29 and have been married for six months. They have around $119,500 invested and unusually low housing costs, yet their finances feel chaotic and unstable. They spend more than they make, struggle to understand where the money goes, and have never had a substantive conversation about money as a couple.
The deeper problem is the dynamic they’ve fallen into. Grace handles most of the money while Chris takes a back seat, and both avoid the uncomfortable conversations they know they need to have. With children now part of their near-term plans, Ramit pushes them to confront where their habits came from and what has to change before the stakes get even higher.
In this episode, we uncover:
Why Grace feels like she’s managing their money alone
How Chris’s avoidance keeps the same cycle going
Why “we’ll figure it out later” keeps costing them
How a $100 weekend budget disappeared at a baseball game
Why 108% fixed costs are only part of the problem
How Amazon, eating out, and social spending keep slipping through the cracks
How inheritance, a mortgage-free home, and family support shaped their relationship with money
How their childhoods taught them to avoid talking about money
Why starting a family makes their financial situation more urgent
How they can finally start making financial decisions as a team
Chapters:
(00:00:00) Introduction
(00:02:36) “I’m crying for help on a sinking ship”
(00:16:53) The baseball game that exposes their money dynamic
(00:24:22) Ramit opens up their numbers
(00:40:37) Where their $119K investments came from
(00:47:40) What their childhoods taught them about money
(00:56:46) They’ve never defined their Rich Life
(01:04:04) What happens if nothing changes?
(01:18:32) Can they make the next 15 months work?
(01:31:43) Follow-ups
This episode is brought to you by:
Wispr Flow | Try Wispr Flow for free at wisprflow.ai/ramit
Gelt | Gelt is taking on new clients now. Find out if you qualify at https://joingelt.com/ramit
NetSuite | If your revenues are at least in the seven figures, get the free business guide “Aligning for the Agentic Era: How AI Is Changing Everyday Work” at https://netsuite.com/ramit
DeleteMe | Get 20% off all consumer plans when you go to https://joindeleteme.com/ramit and use promo code RAMIT at checkout
Got a money question you’ve always wanted to ask me?
Join me live on September 17th for “Why Your Budget Keeps Failing.” I’ll show you how to build a Conscious Spending Plan and answer your questions live. Join me: https://iwt.com/budget
Ever wondered what recruiters actually think when they see your application?
On September 16th, Google recruiter Nicky Slavich will reveal what makes recruiters keep reading and when to apply even if you’re underqualified. RSVP free: https://iwt.com/expertsession
Connect with Ramit:
Get my new book, Money For Couples
Get Money Coaching with Ramit
Download the Conscious Spending Plan
Listen to my book—now on Audible
Get my New York Times best-selling book
Get my no-numbers journal
Other episodes
Instagram
Twitter
YouTube
Apply to be coached for free on this podcast at https://iwt.com/apply
Ramit Sethi of I Will Teach You to Be Rich talks with Grace and Chris, who are 30 and 29 and have been married for six months. They have around $119,500 invested and unusually low housing costs, yet their finances feel chaotic and unstable. They spend more than they make, struggle to understand where the money goes, and have never had a substantive conversation about money as a couple.
The deeper problem is the dynamic they’ve fallen into. Grace handles most of the money while Chris takes a back seat, and both avoid the uncomfortable conversations they know they need to have. With children now part of their near-term plans, Ramit pushes them to confront where their habits came from and what has to change before the stakes get even higher.
In this episode, we uncover:
Why Grace feels like she’s managing their money alone
How Chris’s avoidance keeps the same cycle going
Why “we’ll figure it out later” keeps costing them
How a $100 weekend budget disappeared at a baseball game
Why 108% fixed costs are only part of the problem
How Amazon, eating out, and social spending keep slipping through the cracks
How inheritance, a mortgage-free home, and family support shaped their relationship with money
How their childhoods taught them to avoid talking about money
Why starting a family makes their financial situation more urgent
How they can finally start making financial decisions as a team
Chapters:
(00:00:00) Introduction
(00:02:36) “I’m crying for help on a sinking ship”
(00:16:53) The baseball game that exposes their money dynamic
(00:24:22) Ramit opens up their numbers
(00:40:37) Where their $119K investments came from
(00:47:40) What their childhoods taught them about money
(00:56:46) They’ve never defined their Rich Life
(01:04:04) What happens if nothing changes?
(01:18:32) Can they make the next 15 months work?
(01:31:43) Follow-ups
This episode is brought to you by:
Wispr Flow | Try Wispr Flow for free at wisprflow.ai/ramit
Gelt | Gelt is taking on new clients now. Find out if you qualify at https://joingelt.com/ramit
NetSuite | If your revenues are at least in the seven figures, get the free business guide “Aligning for the Agentic Era: How AI Is Changing Everyday Work” at https://netsuite.com/ramit
DeleteMe | Get 20% off all consumer plans when you go to https://joindeleteme.com/ramit and use promo code RAMIT at checkout
Got a money question you’ve always wanted to ask me?
Join me live on September 17th for “Why Your Budget Keeps Failing.” I’ll show you how to build a Conscious Spending Plan and answer your questions live. Join me: https://iwt.com/budget
Ever wondered what recruiters actually think when they see your application?
On September 16th, Google recruiter Nicky Slavich will reveal what makes recruiters keep reading and when to apply even if you’re underqualified. RSVP free: https://iwt.com/expertsession
Connect with Ramit:
Get my new book, Money For Couples
Get Money Coaching with Ramit
Download the Conscious Spending Plan
Listen to my book—now on Audible
Get my New York Times best-selling book
Get my no-numbers journal
Other episodes
YouTube
Apply to be coached for free on this podcast at https://iwt.com/apply
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