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

Paul, 33, and Maddie, 29, joined us in New York City for a live-recorded episode. She is a high earner, but worries about lifestyle creep. He recently left his job, and they’re treading water on one income.

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[ramitsethi]

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.

[corysanhueza]

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.

[JosephRea]

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.

[ST-wouw]

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!

[oshaneb]

Her saying if she’s spending 50k on a wedding she’d rather not have a wedding is very telling. After hearing that I’m done

[mirusmundi]

To all y’all in the comments saying how “unrelatable” this is because of their high income and high net worth…LISTEN UP. This episode is you, just making more money. Ramit, Maddie, and Paul just gave you the gift of a crystal ball. Say it with me: how you manage, interact with, and feel about your money does NOT automatically change when you increase your income. Overspend now? Stressed now? If those issues go deeper than “I cannot afford my basic necessities”, THIS IS YOUR FUTURE WITH MORE MONEY.

Now go finish the episode, and then say thank you.

[LinzyLinz]

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.

[hannahmoren]

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

[StevenEdwardsAudio]

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.

[irgggg]

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."

[JacobTamme-wsjt]

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.

[rubired]

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.

[coachisaiahv]

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.

[passportsandpostcards]

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

[Danfinitely]

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

[thandokunene]

When the inheritance bomb dropped hahahaaaa I KNEW IT

[yajairacolin]

Good example of money doesn't buy happiness.

[caplife]

Thank you for showing high earners as well. I appreciate all the videos but it’s helpful to see that having money doesn’t suddenly change people’s financial habits.

[makeorbreak]

He is burnt out, it is definitely not laziness. He needs to heal from the trauma that he went through. Micromanaging only leads to overwhelm

[HoustonTom]

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.