A couple with a newborn spends 89% of their $102,792 income and carries a secret loan one partner hides from the other. Ramit Sethi says they're headed for a financial brick wall and need immediate, dramatic changes to fix the trust and money problems.
You have zero going towards savings, zero for investments. You have debt and a baby. If you literally just continue on this path, you will hit a brick wall.
How long have you been in debt?
My whole life. I'll get a paycheck, just pay it off, continue the cycle. The two of you make $102,792.
What do you think of that number? That's enough to not be in debt.
So why are you where you are? Mismanagement. Poor decisions.
He didn't have as much money as I thought he had because he's trying to pay this loan off secretly without me knowing.
Oh. Do you trust each other?
No, not fully. We've had a lot of stuff.
I haven't prioritized the safety and stability of my family. Guys, it's gonna take you a lot to build a healthy relationship with money. You will not walk out of this room without making dramatic changes.
