Ramit SethiRamit Sethi: The No-BS Guide to Living a Rich Life

Negative free guilt spending? First timer #money #financialfreedom #personalfinance

31 Mar 2023 · 0 min

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Two people review a conscious spending plan and discover they're spending 29% more than they earn each month, funding kids' shoes and birthday parties by drawing down savings. They talk through how that feels and what it means.

Questions this video answers

-29%

From the family's savings (they are spending down savings each month).

The final section of the conscious spending plan is your guilt free spending at negative 29%. I don't know if I've ever seen a number like that on a conscious spending plan.
You're welcome.
You're in the hall of fame. So what does that mean, negative 29%. What does that mean to you?
That means our kids are getting shoes and jerseys and birthday parties and everything else out of our savings.
Ah. So are you spending down your savings every month?
Yes.
Okay. And how does that feel to both of you?
Awful.