Reacting to My Subscribers’ Finances

I’ve helped millions of people fix their money. In this video, I’ll look at 4 different budgets and share what I think is best for each situation. And here’s something new — you’ll actually hear follow ups from each person this time, so make sure you stick around.

THIS VIDEO IS BROUGHT TO YOU BY

LINKS MENTIONED IN THIS VIDEO

Ramit Sethi is the host of Netflix’s “How To Get Rich” and New York Times bestselling author of “I Will Teach You To Be Rich”

CHAPTERS
00:00 Introduction
00:28 Conscious Spending Plan #1
16:15 Conscious Spending Plan #2
31:55 Conscious Spending Plan #3
38:42 Conscious Spending Plan #4

[isiah]

This series has gotten better pretty quickly. Solid team working in the background with Ramit

[whysoblutube]

That couple romanticized owning the 1M home. I could already tell that spending on things that would make them happy was almost non-existent. As you pointed out, as soon as they were to acquire that 1M home, they’d be sad again soon thereafter.

[zheros]

Love this format, it’s like a condensed version of the podcast.

[Kevin.Grindel]

Couple 2 needed to be live so Rami couple challenge the defeatist attitude and ask what they planned to do with the $750, 000 they have saved. I see $50, 000 for an emergency fund and $700, 000 for a house with a $300, 000 mortgage the payment would be about $2000 a month. Then they would free up the $6000 a month they are saving for the house. It’s crazy that these numbers allude them when they’re so able to stay on a budget so they have to understand something about numbers.

[TidalsWave]

Truly love your content. But I also wish you featured more people with incomes in the $50, 000 to $70, 000 a year range, and single people as well.

As a single 28-year old woman making $52, 000 a year, I absolutely do learn from all your guests, but none of the people featured today were relatable. I don’t have a husband. I don’t have a doctors salary coming in two months. And there’s no $700 k housing fund. The choices and calculations I have to make are different, because the money is different. Single people and people not making 100k + each year have money concerns that are just as a valid as other subscribers. It’d be nice to see that reflected.

[kr]

It was fascinating to see the one couple has already increased their income from $60, 000 something to over $200, 000. The second couple really needs the full IWT experience! I would love to hear their logic and perspective. Being worried about buying a house you can almost pay cash for is very interesting.

[wh]

Big fan of this format, Ramit. Keep it going!

[jqzpded]

Couple 2 makes me sad. They are successful by almost any measure, great combined income, amazing savings for a creative couple, could almost buy a place in cash. But they live in a scarcity mindset. Because of this mindset, they missed so many opportunities when rates were low. In the video followup, I can see the depression and despair in her face - she does not believe she really has the opportunities she so clearly created for herself. And it did not seem like she heard Ramit's message of "yes, you can buy." This is the case where negative stories they are telling themselves have destroyed happiness. Who needs all this money sitting in an account when you're that miserable?

[RaechelMaelstrom]

I like this. I feel like the podcast has gotten to be too much like a therapy session to understand someone's finances. Yes, the emotion is important, but it's taken over the numbers, so you really can't tell if their problems are real or emotional until very late. This starts with the numbers, which everyone can understand, and then you add in the emotional thoughts based on the numbers, which makes a lot more sense.

[martinyeager]

I enjoyed the format of the episode in the content, length, and presentation. Certainly there is an an audience for people with this level of income. Also, I'd like to see a similar episode with people making a combined $100, 000/year as a couple (20's, 30's and 40's year old) and an episode of single-parents or people likely to be single for the balance of their life. Thank you Ramit and team.

[JenniferBrooks-eqrn]

I think the second couple made the right choice in finally moving. I think the real issue there for their happiness was that both of them were having to do two jobs to maintain that income in a high cost of living area while trying to save for a home and retirement. I think that the exhaustion of having to work so hard probably also meant that the little time they could spend together wasn’t quality time. Moving will help them reach their goals and at the same time, hopefully they can afford to work less, by getting a nice home for less money, and get to enjoy their lives together. Wishing them lots of happiness for the future.

[katrinariya]

Yay, more individuals in different situations please! College students, early career, high school. Etc. Early education could be so beneficial for them and for everyone.

[izy]

The fact that he’s advertising his wife’s business is incredible 😂🎉

[manubansal]

One of your best episodes, Ramit and team! More of this!

[EgamiGlow]

Awww!! I love that you featured your wife's business!!! That's so beautiful! 😭❤️✨️💕

[georgiaw]

Hey Ramit and team - I love this format. Also thankful for your acknowledgement of feedback in the comments - the previous videos in this series have had different selections of people too so I think overall the variety is decent and I’m looking forward to seeing more as you are able to produce the content. I’m from Aus so our tax/retirement/account structures are different but the principles seem universal and I’ve learnt a lot about Roth IRAs 😂 ! Thanks 🇦🇺

[dohnjoe]

im a little confused by the follow up of #2. either she's trying to buy her dream home first (does she know that she can buy a home, and then sell it and get a bigger, better one??) or she thinks that homes must be bought in cash... I think she needs some financial education...

[Kimbopolo]

Couple #2: please hear this. Homeownership is not the paradise you think it is. I wish your entire generation understood this.

[nomaam]

If I can recommend doing this type of episode with single viewers, I am. I’m a huge fan and you have inspired me to pay more attention to my money. I still need work but I have made some great progress and intend on getting better. Thank you Ramit!

[michellegreen]

Couple 1 - Thank you both for your service.