“We panic over money but spend $84K on travel & shopping”

00:00 Download the Conscious Spending Plan so you can use your money GUILT-FREE: iwt.com/csp-youtube Please remember: These are real people who had the courage to come on my podcast and ask for help. Would you be willing to come on this podcast and share every detail of your financial life? Feel free to leave comments based on what you think, but remember that we are here to help in a supportive way, not to demean and criticize.

When you’re rich but your friends are richer so then you try to look as rich as they are and then you feel poor.

I can’t relate to these people. On one income alone they are still making almost 20k/ month with 11k net. If you can’t live comfortably on that, it’s not a money problem, it’s a you problem.

He’s only been unemployed for a month and a half. Unemployment happens. There needs to be a plan for when that happens and how long each partner is comfortable carrying the financial load and how they will scale back as a couple during that time.

Stop normalizing these insane Instagram lifestyles!! True friends say, "NO, I can't afford it." True friendships and relationships can be enjoyed without having to spend a fortune!

Honestly Maddie feels like a series of red flags. She could just work with Paul to cut back on spending for a bit and give him a chance to find a job that doesn’t deteriorate his mental health. They don’t have kids, their fixed costs are reasonable, just dial it back— it should be that easy. Instead she continues to spend and pressured Paul because resources are scarce. I’d run if I were him.

Yes he needs a job. But putting his mental wellbeing over the unwillingness to cut back on frivolous spending is WILD.

One income isn’t the problem. 263k is literally plenty! This is an example of enough is never enough.

I like the moment where Ramit humbled them and explained that they were living a 600-800k lifestyle. Despite them being high earners, they’re spending too much to keep up with the Joneses (just in a much more lucrative way than the average earner). They’re young and their income will only go up from here. But if they build a great foundation/investment portfolio now, they’ll set themselves up for life.

Good example of money doesn't buy happiness.

I'm 34 eating pancakes for lunch on the floor of my new (rented) (furniture-less) studio apartment. I don't understand these people.

"Trust fund kids struggle to live their Instagram life"

Very relatable episode. "Be very careful about taking on labour from your partner. It sets a precedent and it has bigger ramifications than most of us think about."

It always amazes me when people don't follow up. A simple "thank you Ramit, you've given me alot to think about and I'm not sure what changes if any I'm going to make but I appreciate your time." There so many other people that could have benefitted from a convo with Ramit that may have been passed up. The least people can do is show appreciation afterwards.

This shit is wild and so frustrating. They were just handed money via inheritance, she’s not even 30 and makes over $200k, they have over $600k net worth… and yet they are complaining because they have lots of other rich friends doing extravagant things constantly and they want to be doing the same. Come down to earth for a moment and realize your privilege and luck and how easy you will have it if you just stop living for others and appearances.

When the inheritance bomb dropped hahahaaaa I KNEW IT

She has a scarcity mindset and then massively overspends. What a mess...

I wish they broke down their “guilt free” spending into clearer line items and planned for it in advance. $7000 is a lot of money to spend thoughtlessly. Not to mention there is NO line item for the wedding…

55:42 He says he doesn't think they "keep up with the Joneses", and she immediately disagrees, he gives up, crosses his arms, and she takes over. He never gets to articulate why he thinks that is. 1:01:37 He says they're going to 8 or 9 weddings, she says "4 are meaningful to [her]", and he immediately gives in. I'm guessing those dropped 4-5 are more for his friends/family than hers. This hits really close to home. I was in a similar situation -- married, joint income close to $500k with multiple millions in investments. Quit my job to relax and find my next thing and suddenly we weren't ok. Couples counseling; regularly prioritized her point of view to keep the peace; divorced 4 months later. Happier now, but it was a long, painful, expensive process. Paul? Run.

you need to be cautious when you run in a friend/family group that spend heavily on trips and weddings. The price of admission to that group is also spending. And if you don't keep up with them, you could be pushed to the side. People have to decide what is important to them.