149. “We have no savings but bought our kid a $500 toy for Christmas” (Part 1)

149. “We have no savings but bought our kid a $500 toy for Christmas” (Part 1)

Elizabeth and Jonathan are in their mid-thirties, have been married for 13 years, and share a young daughter. They bought a starter home after getting married, but expensive renovations are still underway. They struggle with debt and spend a lot on their child. They’re wondering—is this it? This episode is brought to you by: Viator | Download the Viator app and use code VIATOR10 for 10% off your first travel experience with Viator. LMNT | Right now, LMNT is offering 8 single serving packets FREE with any LMNT order. This is a great way to try all 8 flavors. Get yours at https://drinklmnt.com/RAMIT. Facet | Get affordable, accessible financial planning with a flat fee membership. For a limited time, the $250 enrollment fee will be waived when you sign up at https://facet.com/ramit. Superhuman | Get a free month of lightning fast email at https://try.sprh.mn/ramitsethi. Rocket Money | Stop throwing your money away. Cancel unwanted subscriptions – and manage your expenses the easy way – by going to https://rocketmoney.com/ramit. Links mentioned in this episode • “We’re broke, but I spend $350/mo on clothes” (Part 2) Connect with Ramit • Get the Podcast Newsletter and exclusive Q&A about the show • 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 • Submit a question for the newsletter iwt.com/askramit If you and your partner have a money issue and you want my help, I occasionally select a couple to work with, free of charge. Apply for my help here. Produced by Crate Media.

Jaksot(257)

8. “My wife is spending too much money”

8. “My wife is spending too much money”

Natalia prioritizes experiences over finances. She doesn’t want to miss out on life, so if she wants to visit her family, she doesn’t wait to check their budget -- she gets on a plane. Andres, on the ...

7 Syys 202145min

7. “My parents keep expecting us to pay for them”

7. “My parents keep expecting us to pay for them”

Barry is a first-generation Pakistani immigrant. His wife, Maria, is also Pakistani and was born and raised in the United States. Cultural expectations are making it difficult to get aligned on their ...

31 Elo 202147min

6. “We can’t afford to live in NYC, but my wife doesn’t want to leave the city”

6. “We can’t afford to live in NYC, but my wife doesn’t want to leave the city”

Jessica grew up wealthy in New York City. She can't imagine her life anywhere that's not within walking distance to the coffee shop, the best schools, and her parents (who live two blocks away). Her h...

24 Elo 202146min

5. “I paid off $50,000 of debt, but I still feel guilty buying toothpaste”

5. “I paid off $50,000 of debt, but I still feel guilty buying toothpaste”

Sheena has paid off a huge chunk of her student debt. Peter wants to plan a trip to Japan for their 10th anniversary and decorate their apartment, but Sheena’s first reaction is, “How will we afford i...

17 Elo 202137min

4. “My wife didn’t know I had $450,000 of debt until yesterday”

4. “My wife didn’t know I had $450,000 of debt until yesterday”

John has a lot of debt. Wendy knew about the $450k he owed when they started their relationship, over ten years ago, but she only found out what the current number is the day before their call with me...

10 Elo 202149min

3. “My husband is going broke, but he won’t let me help”

3. “My husband is going broke, but he won’t let me help”

Calvin feels he needs to be the “man of the house” and pay for everything. There’s just one problem: He can’t afford it. Every month he’s in the red, leading him to be anxious around money. Chantha li...

6 Elo 202146min

2. “We’re worth $1 million, but we're so cheap, our friends don't want to see us anymore”

2. “We’re worth $1 million, but we're so cheap, our friends don't want to see us anymore”

Ashley and Greg have a household income of over $250,000 and a net worth of over one million dollars. They’ve developed a reputation for being cheapskates. Not only do their friends and family say tha...

5 Elo 202155min

1. “My husband doesn’t trust me to run our business”

1. “My husband doesn’t trust me to run our business”

Alyssa and Ilan have been in a relationship since 2007 and are now married. They both lost their jobs during the pandemic, but acting on their feet, launched a highly successful baklava business which...

4 Elo 202151min

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