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

08/06/21 • 49 min

2 Listeners

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 likes to spend money on nice things and feels Calvin is too cheap with his money. The two of them feel stuck because of their different views on money. And, to make things even more complicated, Calvin – by conventional definitions – is rich. He and Chanta bring in $250k a year, and based on their savings rate, they’re on track to become multimillionaires.

As you listen, notice their backgrounds. What led Calvin to feel this way about money? What motivates a husband to take on such a burden and how can Chantha and Calvin find a middle ground of comfort where they can build a future together? Pay particularly close attention to our discussion around vacation at the end of the episode.

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Produced by Crate Media.

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.

Connect with Ramit

Produced by Crate Media.

Previous Episode

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

1 Recommendations

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 that they’re cheap, but their friends have started avoiding them because of it.

We’re about to discover that cheapness and net worth are not correlated whatsoever.

There’s more to I Will Teach You to Be Rich than simply how to make money. You need to know how to live a Rich Life. It’s great to work hard and earn a lot of money, but the psychology of frugality – even austerity – can follow you around forever if you don’t work to break it.

Ashley and Greg are about to learn that money is meant to fuel your Rich Life – not to merely be saved for some day in the future. Listen in as they describe their anxiety around spending money.

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Produced by Crate Media.

Next Episode

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

1 Recommendations

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 – and the number has gone up!

She wants to help him pay it off but he refuses to allow it. John insists that everything is under control, but Wendy doesn’t believe him. He makes a plan, then sets it and forgets it. She needs to check the status and cross things off the list.

Underneath all of the financial questions, there’s a deeper conflict: he wants another child. She doesn’t feel ready. Does money play a part in her reluctance?

As you listen, notice that John and Wendy are calm, collected, and clearly love each other – even with $600,000 of debt! I’ve spoken to couples who were more stressed out about $20K of debt. They have the trust, but they need help to get clarity.

Listen for their revelations and breakthroughs around money and building a Rich Life.

Connect with Ramit

Produced by Crate Media.