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69. “We make almost $300k per year but we can’t afford our mortgage”

69. “We make almost $300k per year but we can’t afford our mortgage”

FromI Will Teach You To Be Rich


69. “We make almost $300k per year but we can’t afford our mortgage”

FromI Will Teach You To Be Rich

ratings:
Length:
83 minutes
Released:
Nov 15, 2022
Format:
Podcast episode

Description

Chris and Camilla are 33 and 31 and they make almost $300k collectively living in a high cost of living area. They recently bought a vacation home, like everyone on TikTok tells you to do. Surprise, surprise—there’s no fairytale ending here, no mounds of passive income, no soaring property values or slam dunk investments.They thought they’d cash in on a hot market. But with the slow season approaching, they’ve realized they're losing money. How should they handle it? And (gasp) what might other people say if they have to sell?This episode is reminiscent of another Canadian couple, Eric and Elena, from episodes 49 and 50, who also bought a house they realized they couldn't afford. But I think you'll find this one fascinating for the differences—especially in the numbers.Connect with RamitWebsiteInstagramTwitterFacebookYouTubeLinkedinIf you and your partner have a money issue and you want my help, I occasionally select a couple to work with, free of charge. Apply for my help here.Produced by Crate Media.Mentioned in this episode:Money Coaching with Ramit SethiJoin Money Coaching to get your money questions answered, directly by New York Times bestselling author Ramit Sethi. Learn more at IWT.com/moneycoaching.
Released:
Nov 15, 2022
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.