Reacting to My Subscribers’ Finances

Today, I’m reviewing the finances of REAL PEOPLE — I'm talking about their income, their debt, and their spending! And I’ll tell them exactly what I would do in their situation.

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CHAPTERS
00:00 Introduction
00:45 Conscious Spending Plan #1
18:21 Conscious Spending Plan #2
31:46 Conscious Spending Plan #3

[jacquelinemorris]

Really enjoyed the 1st CSP. Regular person with a regular salary and not making 6 figures plus. Very relatable. Would love to see someone in their early forties that has like a salary of student loan debt and also trying to save for student loans at the same time while also trying to balance living today and saving for the future.

[notmv]

Please do more of these, I love the perspective!

[jlwoods]

$300 month for groceries for one is doable if you cook most meals, buy less packaged food and shop at Aldi. I do it and eat well. I’m also in a VHCOL area in California.

[LADYDDNCE]

Living your best life really isn’t about number, it’s about the ability to make choices. What a blessing group of people, still can learn a lot from them all! Thanks Ramit ❤

[littlemissmeera]

wow, Pat is so sweet and living her best life in NYC - you go, girl!

[hadaar_]

I spend about $300 a month on groceries as a single person. It's not that hard with thoughtful meal planning as long as you're not picking expensive cuts of meat and are relying more on bulk frozen vegetables instead of fresh. I actually spend less than $300 on the meal necessities, but I include some wiggle room for wants, as long as they're within budget.

[stainsonmycouch]

Thankyou for posting these at 6:30 in the morning. I can watch it on my way to work hehehee

[TJrules]

Thank you for looking at single ppl. I watch your content and it’s helpful when you talk to singles.

[kelsiuss]

These have quickly become my favorite series!! Especially the follow-ups featured in the video, get to see their story from beginning to end 🎉

[stark]

Watching these makes me feel much more secure about my situation. If anything I've been over-saving and can probably afford to enjoy some more guilt free spending. Me and my wife have been just about maxing all of our tax advantaged accounts as well. My wife insists on an enormous 1 year emergency fund due to some invisible scripts from her childhood but I respect that, It's how she designed her rich life. We are about to reach that threshold soon and should be able to start spending more. Thanks for the perspective! Edit: some context, the large emergency fund is so our future kids will never have to experience money problems in their childhood.

[EmilyChandlerj]

Just FYI, it's become quite rare for tech companies to offer full meals for free. Snacks here and there, yes, but not lunch and dinner.

[jessicadickinson]

$300/ month in food is completely doable for one person. If they eat in for EVERY meal, that's $3.33/meal which covers most meals including those with beef (one of the more expensive meats).

[MissGirl]

I've noticed in the emailed CSPs, the debt is all on one line. I'd love to see this broken up into mortgage, credit card, and student loan debt.

[Cat]

I have been saving for my wedding since I started working at 22 and was very single. I met my fiancé at 25, and I’m now almost 29, got engaged a month ago, my wedding fund has been fully funded since I turned 28. Just putting money away regularly, making sure it kept growing year on year and topped it up when I got an unexpected amount (eg bonuses).

I can’t believe that people who know they want to get married in the future don’t save for this stuff (if they have the means!).

I adopt the same view for retirement. You know you’re gonna want to retire, why are you not planning for it?

I will acknowledge there’s probably some advantageous psychology at play here - I’ve always enjoyed putting money away for a larger, experience-related, expense and have always felt very comfortable delaying gratification. Unlike seemingly a lot of people my age, I actually am really quite adverse to impulse spending and a strong sense of what I need/want.

[andrewdejuan]

yes! new video! I've binged days straight all your podcasts. You the man Ramit! I've made changes to our finances based on your CSP and I must say, it's quite freeing and exciting! Much success to you my friend!

[coyacoy]

If I submit my expenses, I know Ramit will yell at me for having virtually no guilt free spending set aside 😂

[justinkompf]

I wish we saved for our wedding much earlier, but this kind of advice is why i already started saving for kids even though we don’t have them yet. Love your advice I’m in fitness and the cross over for advice is spot on

[ozzyngcsu]

For scenario 3 it was weird including the 529 money, since in theory those funds will be used by their children.

[tracychan]

Single if cooking most meals, monthly spending on food is about $300.
I live in NYC too and that's roughly what I spend on food shopping.
But I am sure the two girls are like me, I don't eat snacks much. That can save a lot 😁

[brookebond]

I saved for my wedding when I was single. Was able to pay for the entire wedding in cash :)