Ramit Sethi works with a couple spending 154% of their income, one of the highest ratios he's seen. They're hiding $400,000 in debt while still going to beer gardens and ordering tacos weekly. Sethi says small cuts won't work; they need to face the uncomfortable truths driving their spending.
The spending is out of control. We have no savings. We are living way beyond our means.
Fixed costs, 154%. That is one of the highest numbers I've ever seen.
Shocking to see the numbers and a little painful in that I was finding out the debt that James has is just way more than I could have ever anticipated.
It was very foolish. You can't plan a life on vibes.
I never met a couple in $400,000 of debt that went to a beer garden once a week with tacos.
We overvalue the almighty convenience.
You said, we will likely divorce if things continue on as they have.
I am supporting his career. I am the safety net, and I am taking care of everything. I'm just done with the defensiveness and the excuses and the reasons why. I can't literally keep doing this anymore.
Guys, we can't get any further if you're not honest about what's going on. 154%, it's not about cutting your phone bill down by $20 a month. If you want to make radical change, you have to admit some deep things about yourself that might be quite uncomfortable.
