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5. “I paid off $50,000 of debt, but I still feel guilty buying toothpaste”

5. “I paid off $50,000 of debt, but I still feel guilty buying toothpaste”

FromI Will Teach You To Be Rich


5. “I paid off $50,000 of debt, but I still feel guilty buying toothpaste”

FromI Will Teach You To Be Rich

ratings:
Length:
38 minutes
Released:
Aug 17, 2021
Format:
Podcast episode

Description

Sheena has paid off a huge chunk of her student debt. Peter wants to plan a trip to Japan for their 10th anniversary and decorate their apartment, but Sheena’s first reaction is, “How will we afford it?” Money is one of the first things she thinks about. She thinks about it every day, even when buying toothpaste. 
Sheena is clearly terrified of money. She can’t even feel proud that last year mid-pandemic, she paid off $15,000 of her credit card debt! When I ask her how she’ll feel when her debt is paid off, she says “Better...I hope?” But I know it won’t happen unless she changes her money psychology.
Sheena and Peter’s story is an example of how we can punish ourselves unnecessarily when we grapple with finances with an all-or-nothing approach. Sheena has created a financial cage in her own mind -- but she also has the keys to get out. Listen in to understand how just a few shifts to her money psychology -- and a surprising financial strategy -- will let her take control of her money.
Connect with Ramit
https://www.iwillteachyoutoberich.com/podcast/ (Website)
https://www.instagram.com/ramit/ (Instagram)
https://twitter.com/ramit (Twitter)
https://www.facebook.com/ramitsethi (Facebook)
https://www.youtube.com/user/ramitsethi/featured (YouTube)
https://www.linkedin.com/in/ramitsethi/ (Linkedin)

Produced by http://crate.media (Crate Media).
Mentioned in this episode:
Automate Your Money
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https://iwt.captivate.fm/aym (Go to iwt.com/automate for the guide.)
Released:
Aug 17, 2021
Format:
Podcast episode

Titles in the series (100)

Imagine listening in on these raw, unfiltered conversations with real couples… One partner is in $300,000 in debt, but shrugs it off. The other cries at night, anxious about the future. A couple that’s so worried about money, they never feel they’ll have enough. When they eat out, they order chicken instead of steak to save $10. Their household income: $600,000. Two parents who feel overwhelmed by work, kids, and debt. When I ask them how they’d describe their lives, they instantly say the same word: “Stuck.” Ramit Sethi asks the questions we wish we all could ask, presenting a totally different philosophy on money: • Spend extravagantly on the things you love, as long as you cut costs mercilessly on the things you don’t. • Ask $30,000 questions, not $3 questions. • A Rich Life is more than math -- it’s mastering your money psychology. From the author of the bestselling book, ‘I Will Teach You To Be Rich,’ learn how money psychology affects these couples… and how to create your own Rich Life.