“We’re drowning in debt…but I drive a BMW”

[@ramitsethi]

0:00 Download the Conscious Spending Plan so you can use your money GUILT-FREE: iwt.com/csp-youtube 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.

[@MrSteelermaniac]

Almost no one plans for the downturn. They always think things will always go up and up. HUGE MISTAKE!! I really hope they have learned from this. I was there. I'm no better. But I am older, which makes things harder.

[@alchaudhari]

You are amazing Ramit. I follow you and keep watching your video's to make sure I don't drift. Thank you.

[@danielromerosol4158]

Im not sure about this format. My two cents. The couples are really really exposed. I think the screen gives a little bit of protection/ cover while discussing such intimate details of their life. Lets see how it goes

[@mo1482]

Ramit...we need you to help us understand the mortgage thing! House worth 251k but mortgage debt is $414k? What are we missing?

[@pauchopkins12]

The guy makes $48k a year and has a $69k BMW loan. That is absolute insanity.

[@wendyp3613]

this is so common!!! unfortunately

[@amandawithlov3908]

@@journeytothevoid2899 30 and 32

[@destinystup6675]

How???😮

[@Playingwithproxies]

48k per year before taxes and he owes 69k worth 48k. Lucky for him she’s a sugar mom to him

[@mreega4812]

It's called ghetto rich

[@bookwormbon482]

This was handled fantastically. Respectful, encouraging and not condescending. Genuinely amazing job.

[@ramitsethi]

Thank you and big thanks to this couple for being so honest and open

[@chefkocher1]

That must have been the most detailed follow-up you've ever received. Proof that they are moving in the right direction. I am rooting for them!

[@TheVistastube]

Holy shit it felt like Ramit wrote that follow up himself!

[@lorischuette1163]

Nah Michelle did it!

[@mygoodlife204]

@@TheVistastube i agree😂

[@cutebubbles2007]

yes i loved they were specific on the steps to follow I think they will make it. Rooting for them too

[@minnie9649]

I am so horrified that their takeaway / solution to their financial problems is to cut their mum / family off from their phone plan, when the mum provides free childcare. Doing a small gesture of appreciation for mum’s massive, life changing contribution is not the problem. Childcare is $2-3k per child per month right now. I’m so disappointed with this follow-up.

[@EPPOTTER-k6i]

$500 in savings and a reservation to a fancy restaurant its mind blowing!

[@MissGirl1450]

Where they could easily spend $500!

[@Joce123]

Note to self: Do not be tempted to overspend. It could be easy to have fanciful thinking...That is especially true if you believe that inflation is transitory or that the economy is doing well

[@jaddek.astrie3071]

people worried about appearances.

[@maximayette4231]

This is why i don't care when I hear the media saying people are living paycheck to paycheck. This couple makes ~220k/yr. Let's say 140k/yr after deductions. Even if they spend 10k/month (120k/yr) for all expenses, they still will be able to save 20k/yr. Most people are just irresponsible when it comes to finance.

[@SanaatanSatyaHai]

No sometimes these spendings will help to kick you on the butt and show how the other side lives. I feel it’s important. You’ll always think pond is the largest water body until you see an ocean

[@SqueakyPeeps]

I'm loving this new format with the guests coming to the studio! Kevin and Michelle represent what I've seen in Latin cultures. Girls are raised, boys are spoiled. The wife will become the motherly figure to the husband and she will take care of the kids, the finances, the cooking, the cleaning, the shopping, the planning of the family's future. The husband is just plain irresponsible since he was never taught to be. I live in SoCal and have seen this trend in the 22 years of having Latin friends and coworkers. Ramit, I would love if you would lead a national campaign to make a financial planning/budgeting class mandatory in high school. I will join you 100%. In college when I took out student loans, we were made to take a class on debt repayment.

[@nt4659]

Same in the Asian community - especially Southeast Asian!! My brothers are so ill-prepared to fend for themselves. The girls are successful and independent. The boys are still living at home. So saf

[@wendyp3613]

Yes, to the mother/son/spouse dynamic in Latino culture!!! Also, the part about helping everyone out in the family (cell phone plan) and not charging b/c we're fam.

[@TheThinkingBar]

I would join that campaign too!

[@Joce123]

Junior highschool is not too early to discuss finances..Kids need to understand the expenses that they are incurring with after school activities, shopping, etc.

[@Rando911]

Former HS educator-personal finance is required. But, other classes, such as Econ, count for that credit as well. Since that is usually offered as a dual credit, students will take it. They get a global view of finances, not a personal one. I taught personal finance in 8th grade up through high school (public school). My 5th grade daughter just had some lessons on what taxes are and a little on budgeting.

[@WhyDoWeStay_]

I usually wouldn't comment until the end but I'm at the 25 minute mark and just want to say THANK YOU for calling out the shaming tactics used by other 'financial youtubers'. There's a certain youtuber whose content I would watch in the early days but I had to unsubscribe a while ago due to the vile thumbnails and blatant Jerry Springer-style content. Thank you Ramit for not resorting to such extreme tactics for views. While certain other channels may have a faster growth rate- they will crash just as hard in my opinion. I really appreciate your ethical and psychology-based approach- you are clearly in it for the long haul and not the quick money. And that's why you're a well respected expert in this space and why YOU have a Netflix show ;) Anyway, just wanted to say that as well as thank you to Ramit & the IWT team for making professional, high quality content each week that genuinely helps not only the guests but the people watching!

[@ramitsethi]

Thank you. I believe we can talk about money honestly and have fun while being respectful

[@WhyDoWeStay_]

@@ramitsethi Completely agree! As a budding content creator, I can often feel the urge to resort to such tactics but then I remember that as an educator, it's important to not stoop to that. Following one's moral compass will never lead us to the wrong place! Thanks for your reply :)

[@susiex6669]

I completely agree. I know what KZbinr youre talking about and I cant deal with his videos anymore either. Its too much.

[@DanielA-lp7sw]

Caleb focuses on another demographic. Nothing wrong with that. Everyone has a different style. I enjoy both.

[@jackcleveland2998]

100%!!!

[@jasminelozano9575]

These couples don’t upset me. I have so much compassion for people who have been sucked into today’s culture of overconsumption. We are bombarded with other people telling us what we need or lack all day long through ads, social media, friends.. It’s so important to first recognize this. Companies pay people millions to get your money. We need to have a defense. My defense is frugal living and contentment. These 2 things have given me MY rich life. I’m a stay at home mom homeschooling 2 kids. My family takes a few vacations each year and we’re planning to take the kids to London and Iceland next year (debt free!). We live comfortably because we’ve decided that our rich life doesn’t have to be void of Starbucks or trips, but we’ve cut mercilessly on the things that don’t matter to us. Thanks Ramit and IWT for helping people see there is hope and they can have a rich life!

[@Mz_No-it-All]

This is so true!!! Society also plays a part.

[@tyerrascott6596]

Beautifully said

[@smb-zf9bd]

What you (and I) practice is common sense. I am from a time when it was considered "normal" to work hard, get a good education, live frugally, save and invest with experts. Both kids have had "financial problems" despite great salaries. One wanted to build a new closet for the tons of clothes they have. I finally got them to my financial advisor who persuaded them to send their check to him,. He invests 12% and they live on the rest.

[@kurtwpg]

These people are young, just over 30 as I recall. Already they have made massive mistakes from which they can recover, but they will never be quite as well off as they could have been if they learned these lessons sooner. High school teachers should be showing this specific video.

[@azizurrahman1091]

Did you get to visit London 🇬🇧

[@fakewintertime]

I think we can all agree how they’re extremely brave and amazing to do an in person interview. Love the format

[@miyawam]

Shading Caleb Hammer …. “an offensive thumbnail”. lol True.

[@lowlowseesee]

A co worker is trying to get me into it and I do not like that shit lol

[@protalleus]

Caleb is a child. Ramit is out here showing what it means to have integrity

[@Darkmocha331]

I liked Caleb at first but you don’t actually learn anything watching someone get yelled at for 45 straight minutes over how many tacos they buy.

[@miyawam]

@@lowlowseesee”Haven’t you heard of a sandwich?” - every episode 😂

[@josiprajic_]

My gf got me into Caleb. Later started watching Ramit and got her into Ramit. We watch both now because looking into other people’s finances is our guilty pleasure.

[@leannwilson2640]

She took him to those restaurants as a way of showing him how the "other half lives" and hoped that it would inspire him to aspire to a better life.

[@Playingwithproxies]

It might have been well worth it if it inspired him to find a job that is at at least double his current salary

[@huelu3359]

yes, totally agreed!

[@Ashleyefrati]

Showing someone what they could have without showing them how to get it, negates the lesson.

[@TamiaPeach]

@@Ashleyefrati good point, but you can’t teach what you don’t know. But he’s trying to gain the education now, so he’s moving on the right direction.

[@VBoo459]

@@Ashleyefrati But she is teaching him no? but he's constantly showing that he's an adult toddler so she has to take lead.

[@jdelacruz1058]

They went from financially immature to rolling out the strongest financial plan I've seen. You can see them gain hope towards the end.

[@meagon1020]

The reason I appreciate Ramit and continue coming back to his podcast is the way he approaches each situation and couple. He does not rage bait or shame the couples, I’m sure they already feel bad enough if they’re in debt why make them feel worse? Thank you for the value you bring to the finance space Ramit 🤝🏼

[@sarahl8004]

25:47 Caleb Hammer and Dave Ramsey callout 😂 I truly enjoy your conversations with couples a lot more because you're understanding and considerate while providing real, actionable solutions after listening to each guest thoroughly. You provide insights that bring the lessons to the viewer who might not be in this exact situation but can learn from it.

[@excitedaboutlearning1639]

Not only that but he also models good communication skills and negotiating with a partner. I didn't really get either one from my family. So, I've been learning a ton since the first podcast episode. Ramit is excellent at using his tone of voice to communicate a message without triggering the other person.

[@cynthiaivers1708]

Sometimes tough love may be the best route.

[@Daveyjonesvi]

I’m not sure how I feel about the in person interviews. I think having the couples be in separate spaces allow conversations to be more intimate in a way. Like the individuals talking aren’t beholden to the person next to them even though they may be a room apart. Also with the format, video calls allow the couples to look at each other expressions as they talk about their struggles. In this video they mainly face Ramit and not each other. Not sure if this can be an easy set fix with camera set up.

[@mligon]

I totally agree. I think the old format was great. The current set up is like a talk show, or radio interview and I think to make the current live set up better, it should be a a round table where the couple sits across from each other and can see each other's expressions like you said.

[@Ghlknxmk]

Agree - the old format created intimacy. I also think it's easier to forget you're being filmed on a Zoom call, which breaks down the barriers even more. But if you stick with the new format, I agree that a round table (like sitting around the kitchen table) might help with this

[@guidedbybreath2702]

Agree- it absolutely changes the dynamic…

[@TamiaPeach]

Yes! Also on Zoom they’re in their own home, which feels safer and makes them open up more.

[@runemagged21]

I get that, but I also think the conversation was more collaborative with Ramit. He seemed (even more) attuned with his guests and they seemed less inclined to shirk his direct questions. There was more of a flow, with insights shared that may have felt out of turn across a video stream. There is also way more buy in to literally show up for this exercise. I fully agree the camera angles and furniture should be rearranged for a more triangle or T shape so the couples are just as engaged with each other as they are with Ramit (Cut's "Truth or Drink" and "The And &" here on KZbin do a great job with this. Their sets are also less formal, a boom rather than a mic in their face, so guests may feel a bit more comfy like at home).

[@bradman4399]

Lol the shade at Caleb Hammer at 26 minutes is deserved. It's a shame how much value is left on the table when folks create financial content solely around entertainment, rather than development. Love it, Ramit. Thanks for all you do!

[@marlenakauer5262]

I appreciated and caught this too! I wish he’d just called him out more explicitly. Maybe he will soon. I used to watch Caleb but honestly, it left me with a sour taste and I found it was making my own anxiety around money worse so I stopped. I tried to watch an episode recently and couldn’t get through it. Glad I stopped and unsubscribed. I guess I’m glad some people are changing their personal finances based on his content but at what cost to the guests and even the people associating spending with shame?

[@bradman4399]

@@marlenakauer5262 agreed, I was a follower when he had around 40k, but he realized that he gets more viewers if he produces straight schadenfreude rather than create helpful and thoughtful content... bummer because he uploads 3x the amount Ramit does, wish Ramit was able to have the same cadence, but that would probably make his content lose it's luster so who knows!

[@fabbz94]

I recommend watching Ramsey videos. They are informative.​@@marlenakauer5262

[@123paramorefan]

@@bradman4399there’s a reason he (Caleb) can upload so often. More quality == less frequent. I mean succession was once a week for about two months, while love island uploads 5 episodes a weeks for MONTHS. It’s a difference in production front and backstage and quality.

[@teragram8006]

Caleb Hammer wants to be the Jerry Springer of finance and its so toxic and gross. when you think about it, the jerry springer show was a pretty messed up thing to watch. to be entertained by other peoples' dysfunction.. that's like going to skid row and laughing at all the homeless

[@theChef1337]

LOL The side look at the camera when the guy is talking about accountability. Im dead 💀

[@TheVistastube]

The funniest moment in recent podcasts😂

[@manubansal1979]

Ramit just killed it with his look 😂😂😂😂

[@lemoegrapey4578]

@@bookwormbon482 57:18 I think

[@ladyteeembee1746]

I am right there with you ☠️🤣😂. That was some priceless shade 😂😂

[@johjo26]

57:35 ​@@bookwormbon482

[@lathaniab]

I prefer the virtual format. This is more aesthetically pleasing but feel less intimate and authentic. This feels like I’m watching a light therapy session; the other format feels like I’m listening to you help couple friends get their stuff together.

[@leannwilson2640]

I agree. It was boring to me... and I question the authenticity of the responses sitting right there on the couch together. How Ramit was not coming off that chair is amazing. It struck me that he has in essence married his Mom, and she has a problem with saying NO to herself and to him.

[@shola7987]

I agree everyone is more guarded in person

[@lowlowseesee]

they both feel like they are helping a couple to me. just with slightly different dynamics. if anything ive listened to all three formats and they all feel like light therapy lol. the childhood trauma is connected to the money psychology with each format

[@lyndagabriel6539]

I love that he says he doesn't yell at people. But he doesn't have to. It's much more effective to just quietly say, "... of course you renovated the house".... [you couldn't afford]

[@excitedaboutlearning1639]

Yeah, Ramit is a mastermind at using his tone of voice to communicate important messages without getting the other person to put up their defenses. The "uhhh" comment was brilliant, too.

[@wurdnurd1]

Those were shots fired at Caleb Hammer 😂

[@charliegolding9439]

​@@wurdnurd1absolutely

[@imo098765]

@@charliegolding9439 and thats the entertaining bit until you watch the 3rd video and saw the entire thing.

[@Buffmafia84]

Applaud this couple for putting themselves out there, can’t be easy and takes removing ego. Well done, Ramit!

[@violetapuente-duran1653]

This podcast is truly valuable. I've learned SO much from listening to them. Thank you to all the brave couples who volunteer to share their financial AND relationship challenges with the world.

[@AngieOutlaw-h1i]

I’m surprised to be saying this, but I like the other interview style much better because the two people are in a different room so the more free to say the truth, and when they look up and talk they’re looking directly into the camera which makes it more focused and I just like it better the old way

[@mo1482]

SAME. I am surprised I like the old way better, but I do.

[@carolhollow6607]

I agree, but at least for this episode the look at 57:36 made the multi-camera format entirely worth it. 😂

[@LBRuiz86]

I agree.

[@hdsensing]

My finances got SO MUCH better when I stopped trying to impress people I don't know or people I don't like. I drive a 13 year old car and dings...but it is paid off.

[@latulip100]

Mine has dings and screws holding the bumper in place. I had a run in with an large ornamental rock… but hey paid cash!! Having no car debt is freedom.

[@chrisk4053]

My Honda crv is 12 years old 171 thousand miles. She’s the bomb!!! Saving now for when I need to replace this car. Never again will I have a car payment. Been paid off for the past 7 years!!

[@kurtwpg]

Their last 3 car decisions pushed their retirement back 5 years.

[@sct4040]

If nothing else, your housing payment should be automated. Even electric, gas, credit card payments can be automated.

[@msmong123]

Not when your Check varies monthly. You clearly are not bonus or commissioned. Just saying when you have a lot of money that month you need to pay the house for 2 months because you don’t know what next month is going to be

[@JackieSchlumbohm]

I agree. If you can’t set everything up to be automatic then you don’t have a system that’s working. It doesn’t matter if you have variable income because you would always have money available in savings.

[@alexisballard1459]

5/3rd bank actually doesn’t let you use autopay for a mortgage 😅

[@SuzanneU]

@@msmong123 Michelle definitely has a steady income, a very good income.

[@Vananynana]

@@msmong123When you make a budget that works with your average, it ideally evens out. When you have more money that month, the remainder stays in your account for next month.

[@kingsgold]

$173k in Car and CC Debt, insane. absolutely insane. and they live like that isnt a problem and still act like they earn $50k a month. like all that debt doesnt exist. This couple makes good money, but lord do they make some reckless money related decisions.

[@JacquilynSaito]

I would delete myself before I got into that much debt.

[@irmaramirez1374]

She makes good money. They both make bad decisions.

[@4656superman]

​@@JacquilynSaitofoolish post...😢

[@imo098765]

Those cars while expensive, shouldnt be too much of an issue for them making over 200K per year.

[@michaelb.8953]

I also watch the Caleb Hammer channel and the difference between these two channels in night and day as I can actually appreciate how Ramit handles people on a much more professional level, but then again he is dealing with more professional people. I really like Ramit how he delves into the psychology of money where Caleb is nothing more than yelling, screaming and bleeped out swearing to force people to do the right thing. I can actually watch Ramit's channel all the way through.

[@caleb2159]

To be fair Ramit has been in the finance game a whole lot longer than Hammer has. Caleb is just using his own experience being broke from college and what he did. I mean he basically said he got lucky with a sales job and youtube. He's (Caleb) not certified in finance in anyway.

[@NotesWithNate]

I hope this brave couple knows their story is impacting thousands of people. Took a lot of courage to go on their live! Wishing the both of them the best! 🎉

[@charletfoster8917]

💯

[@malemaline]

I like both formats. I just appreciate the approach of this show and how real and honest people are.

[@panchalvsjeeps]

She literally said "One day I don't know what happened, we walked into a dealership" I honestly thought she was going to say we were in a car wreck...wow!

[@KorakBrosepf]

Yeah seriously, why are you at a dealership **ever** if you aren't interested in buying a vehicle? Fucking spineless comment from her.

[@will201084]

shes supposed to be the financial master and she blames him for deferring the finances to her lol

[@emclaire18]

This guy is unbelievable… never steps up or asks to be a part of the finances, fails the tasks he’s given, and then has the audacity to say she feels like his mother. Because you’re acting like a child.

[@jananiram3041]

Strong case of weaponised incompetence

[@SuzanneU]

I was gobsmacked when he said he feels like she doesn't trust him - almost! Why should Michelle trust him when he fails over and over even in things as important as Please pay the mortgage while I'm away!

[@ehunt185]

Perfectly said.

[@4656superman]

Sounds like the normal womens role...😅 When it's a man it's somehow horrible...😅😅😅

[@yayimahuman]

I love the in-person format. It’s easier to see everyone’s facial expressions, and the audio quality is a nice bonus. Would love to see more in this format!

[@SRD1281]

This guy can't even deposit cash to make a mortgage payment? Yikes.

[@FIREownyourtime]

Most people autodraw from checking. They don't even have the buffer to do that.

[@SRD1281]

@@mickylord21 No

[@CarlosSandoval-u8h]

I prefer this format. The lighting is more even for each person. There is no video/audio streaming issues. The spouses are more present to each other's emotional state because they are not in separate rooms. -The walls could be painted a darker shade of matte paint to minimize the overblown highlights -Couch for the guests is too big, pushes Ramit to the right side, getting cut off the shot. -Is this a studio? Pull the camera back and go with a longer lens, that way you'll avoid the stretching at the borders. Ramit, thank you that you care enough for your audience that you keep improving the quality of your content.

[@ramitsethi]

Great feedback! Thank you. Watch for improvements!

[@Ubersil]

Are you a producer? Insightful stuff.

[@CarlosSandoval-u8h]

@@Ubersil I do work in production, more on the Technical and Art director side of things. VFX and animation.

[@inlinesix6694]

90k for a wedding, craaaazy

[@Playingwithproxies]

Most people don’t even spend 90k on 4 years of tuition 😅

[@Mama2CDHsurvivor]

I thought at first, surely they said “9,000.” But no. Jaw on the floor.

[@lindaanderson1016]

Sorry, the law of Christ.

[@christinadenkinger5966]

Agree!! Crazy amount of money!

[@shola7987]

I had to rewind I was baffled

[@Katja-Kitty]

I actually didn’t hear alarm in Ramit's voice. His version of 'alarm' is a super calm voice. 😂

[@EWall1498]

@@JaNouWatIkVind”Sorry, what was that? I started dozing off. Your voice is so soothing.”

[@kurtwpg]

That's why he has to say it.

[@brittp6702]

Ramit is throwing so much shade to Caleb Hammer 😂 I can appreciate both platforms but I really enjoy Ramit’s logical compassion. It’s much easier to listen to and I learn so much more!

[@cynthiaivers1708]

I like Hammer's style.

[@lowlowseesee]

In person?!!! I've binging the audios all mnth and I just finished two and now this?!?! I love this man

[@SDCPA]

The house (worth $251k, but they owe $414k) didn't seem to be a part of the conversation. I know there were many other areas to cover, but I am curious how that happened. The detail in their response was encouraging. Would love to see a follow-up video with them to see their progress. Best of luck to the both of them.

[@o0usf0o]

We rewatched it a few times trying to figure that part out too! Did they roll the remodel into the mortgage? Need answers lol

[@anointedbeau]

Maybe it's the $80k for renovations and more, I didn't see the amount mentioned in the debts

[@ladyteeembee1746]

I’m thinking it has something to do with the renovation and I wonder if there’s possibly a HELOC buried in there 🤔. But that’s puzzling to be $160k in the hole on the house already

[@o0usf0o]

@@ladyteeembee1746 it’s gotta be something like that… unless the city built a water treatment plant that wraps around the house and a highway that goes over it.

[@heatherLC92]

I came to the comments to see if someone had figured this out because it confused me as well

[@theChef1337]

Yoo!! In person dayyyum. I was getting worried the drop on this video was hella late. Anyone else 7am gang here 😅???

[@davidknoch2256]

I kept refreshing and nothing, my Tuesday commute wasn’t the same today

[@arianehoward4903]

I was marking my books at lunchtime and worried about the lack of video 😂

[@karenh.192]

Same! It was available on podcast earlier and now I’m rewatching because I prefer video content

[@daniellefuller-wimbush4250]

Yes!! I was so worried. Lol.

[@maximillie_61]

Right?? Been agitated all day waiting for this drop

[@baulitious1710]

They seem like good people. He seems like a good dad too. I am rooting for them. I hope they make the necessary changes for their future.

[@christopherholloway8192]

Enjoyed the episode and appreciate the change in format for the sake of trying new things in an effort to always make improvements which this podcast does well. Love the podcast. I prefer the typical episode format though. The audio is better I believe and, with the in-person interview, the guest and host don’t look into the camera because their subject is to the side as opposed in front of them. Miss the music too. Small things overall, podcast was still great, just a few reactions, keep up the fantastic work!

[@minnie9649]

Let’s get this straight: couple accumulated over 70k in CC debt with two luxury cars, took ten vacations in the last year, eats at celebrity restaurants, and $90k wedding. In spite of getting FREE CHILDCARE from mum, and the solution to the financial crisis of irresponsibility is to cut mum and family off of their phone plan to save $100 a month???? Really, doing this tiny gesture for mom is the problem?? By the way, one of the worst things that could happen to this family would be the mum desisting to provide free childcare and then they have to pay like $3k per child. I totally disagree with the takeaway / outcome of this episode. This is not a rich life.

[@tomaszp2027]

Yeah, that's a shitty move. Cars - fine, eating out - cool, but this was unnecessary.

[@meagansy]

I love this IN PERSON INTERVIEW!!!! Ok!!!!!

[@Lili-p1b5t]

Off topic but you look stunning sis.

[@footballbeast2641]

Thank you, Ramit! This is great. I like this format of interviewing the guests in person. It provides another dynamic. I also like your style of showing grace as oppose to yelling and insulting people over their mistakes. I used to follow another finance expert on here, but could no longer stomach how he treated the callers by calling dumb, stupid, morons. My wife and I appreciate you!

[@megandtigg]

I'm betting I know who you're talking about, and I switched over to Ramit too! (And got banned from the other person's subreddit for saying I was unsubscribing lol)

[@footballbeast2641]

@megandtigg Haha! I think we're talking about the same person LOL!

[@SallyHur93]

I've been following Caleb since October 2022 and have seen such a change in the content. It's a shame he doesn't take the same tough love and constructive feedback from his fans that he always gives his guests!

[@megandtigg]

@@SallyHur93 It's so sad, honestly. I commented my disappointment on Reddit and said I was unsubscribing because of the shift he has taken, and I got a 30-day ban. When I sent a message asking a question about the ban from the mods, they muted me...

[@SallyHur93]

@@megandtigg I was on the subreddit recently and saw that was one of the rules! That you're not allowed to announce your departure 😞 I totally get that he has anxiety and these things are hard, I wouldn't want to be such a public figure, but the best creators are the ones who listen to the constructive feedback from their fans, as the fans want them to do well! It's like running a business and deleting reviews from people saying "used to love this place, now because of these changes I won't use this business anymore". Like these things need to be heard, they matter!

[@terid6708]

Recently found your content. The more I see the more I love it. Thank you for sharing your insights with us. And thank you to the people you interview, for sharing their stories. Just love this. Thank you for posting.

[@ramitsethi]

Thank you for watching!

[@MidnightPuppeteer]

@25:00 this is why I love your content, Ramit! Yelling is rarely the answer that will lead to lasting change.

[@Playingwithproxies]

10:20 was another jab at Caleb hammer

[@laundrygoddess4]

I know two couples yelling is the only thing that worked. Different things work for different people

[@CambieSweets]

I thought we weren’t going to get an upload this week and then boom 💥 An in person interview totally worth the wait.

[@irmaramirez1374]

Always worth the wait for sure. Still prefer previous format :)

[@alieshaz9520]

Love the shade at Caleb hahah his content is so unhelpful, I look forward to your uploads. The variety of guests, the respect shown for them, the understanding of where those habits come from. Genuinely helpful content and I love the live setting in this episode!

[@denellrandall3441]

$75k in credit card debt- wowza. It's truly not how much you earn but how much you keep! I appreciate the guest coming on the show. And that underhanded comment referring to Caleb Hammer lol. I learn so much more from Ramit's approach.

[@Evega214]

Great work Ramit. The flow and way you work with them is an art you're getting better and better at. So great to see and your contribution you bring to the world!

[@theChef1337]

Hmmm the house value for asset and debt isnt adding up. How is it worth only 200k but they owe 400k on it? Are they only including equity?? Is the house really worth 600k?

[@Gioli565]

So confused by this too, it really bothered me Ramit didn’t ask about it!

[@brandonwc]

Yeah, I think they messed up assets and only counted equity. Even the cars are assets and probably not included.

[@blackwomenbuildwealth]

Yeah I found that weird too. It's like they are upside down on the house which is probably not the case.

[@RyChOr2005]

@@blackwomenbuildwealth Unless they took out a bunch of home improvement loans and included them in the $414k amount, which is doubtful... very weird this wasn't questioned by Ramit!

[@alisonleigh3821]

I literally just said the same thing! $550K minimum for house value

[@chumabanjwa4662]

As a non-American living in low wage, high tax Britain, I will never get my head around how people who have such high incomes are broke. Makes zero sense to me how people manage to mismanage SO much money and end up in debt! 😢

[@Playingwithproxies]

Living like an American 😅

[@petitealldevourer]

Less taxes means fewer social resources and a much flimsier safety net. Public transit is poor in most of the country, making individual car ownership necessary. Less regulation of industry so it’s easier to get taken advantage of by unscrupulous businesses. And some things that are harder to pin down, like the influence of social media.

[@maryboyle6562]

@@petitealldevourerway to remove all personal responsibility from the equation lol. Americans are poor because culturally we routinely make bad financial decisions. College majors are chosen without any consideration for ROI, car debt is INSANE (my car is worth 5K, I bought it used 10 years ago for 13K, I will probably have it for another 5-7 and I’ll get another used car, my husband and I make $200K+/year), people choose to carry crazy amounts of consumer debt for travel, clothes, designer items, etc when their net worth is negative. The number of friends I have who have credit card/student loan debt but drive nicer cars, have newer phones, and travel more than me is crazy.

[@jmarks2k1]

If I was reading between the lines correctly... shots fired at CalebHammer at 25:16 .

[@Playingwithproxies]

@@Britt4880 he’s right they are pure entertainment not good for actual financial growth 😂 maybe he can get people from drowning in debit to keeping their head above water

[@RyChOr2005]

@@Playingwithproxies At the very least Caleb's show raises personal finance awareness which is always a good thing in my opinion. That being said, his show has been getting harder and harder to watch over the last few weeks

[@LaceyKnight-z4o]

Caleb's channel is great and he deals more with single people in their early 20s. And I completely disagree with Ramit with the yelling - Many people respond to it. I can hear Caleb's scream of "taquitos" before I make a stupid purchase at a gas station. He gets into the weeds of people's finances and Ramit doesn't. Ramit's approach is much more empathetic and tries to get more to the overall issues of a couple. This is also an effective approach but again, not for everyone. I wish he would get more into the details. He doesn't get real financial statements either, he only goes with their CSP, and let's be honest, most people that are filling out a CSP are not completing it accurately. Overall it is great to see so many channels that raise awareness in general of bad spending, not saving for retirement, predatory student loans and credit card companies, etc. Not to mention both channels encourage the most basic financial goals: robust emergency fund, investments, etc. They both HATE cars and don't think people should be in new vehicles, or vehicles at all if you can help it. They also each encourage therapy and positive choices in our lifestyles.

[@RyChOr2005]

@@LaceyKnight-z4o Ramit has a pretty firm stance that smaller details of the budget really don't matter. As long as your fixed costs are in check, savings/investing goals are met, then you should feel free to spend on whatever you want. I like this approach even though I still track my spending down to the penny for over a decade on YNAB lol (I like progress charts) I do think most of the people that Caleb yells at won't really have any effect because most of his guests need to work on mental health issues before even thinking about trying to succeed financially. But that's a whole different topic. Would be pretty neat if he has collabs with a psychiatrist like HealthyGamerGG. Caleb's channel is definitely a net positive though as it raises awareness to personal finance which I always can get behind 💪💪

[@caseyhill636]

I used to like Caleb but the channel has veered solidly into Jerry Springer territory. It’s not relatable for me.

[@Luckoftheirish1]

$90,000 wedding, $69,000 BMW, $80,000 in home renovations, $77,000 in credit card debt, and taking expensive vacations roughly 10 times a year.! Doing all of this while make an average middle-class income. This is ridiculous. Between car payments, insurance and fuel they pay $2400 a month for their two vehicles? At least they are finally coming to their senses and realizing that they need help managing their finances.

[@JDmix123]

Did you read the graph ?

[@melissaaa801]

This video really glossed over how they got into so much CC debt and why their mortgage is SO much more than the value of their home. Would have loved to see that, without dealing with the CC spending it seems like this couple is still at risk of spending beyond their means.

[@jenbar308]

Yep, I was surprised there was no part 2! Seems like there was a lot more to unpack

[@jerrystauffer2351]

Vacations seem to be the answer

[@stevenspencer306]

I was also shocked that the home was a $250k asset with $414k mortgage, especially after putting $80k in renovations. In current market conditions this just doesn't make sense. My guess is that they have $250k in equity in a property worth $660k and were confused about filling out the worksheet. Ramit should have called this out. That would give them a positive net worth, but they're still drowning in high interest debt. Also, did they say the majority of the CC debt was for the renovations

[@williamsullivan8544]

Sounds like a $90,000 on a wedding, tens of thousands of dollars on home renovations. 10 vacations a year. No offense… but isn’t quite obvious what the CCs were used for?

[@OurPerez]

In person interview 🙌🏾

[@emilytamayomaher]

Yeah, understanding the subtle dynamics is what I find so helpful about this show. It's almost like on this show I start to see people as archetypes and then I can recognize the patterns in myself or people close to me that I care about.

[@swarnasen1]

That was one of the best follow-up s that I heard. Best wishes to the cute couple. I am glad Ramit could facilitate them towards their goal.

[@ritjigowon]

57:34 it the bombastic side eye and zoom in for me 😂 Ramit is like 'who's teaching who'??? Im not sure of this format of the couples sitting together, i don't think they'll open up as much. However, the studio looks nice 😊

[@MargaretMaenad]

Love to see a follow-up that includes specific numbers, so excited for them moving forward

[@nfelock]

This was a really good episode. Love the couple's honesty and their detailed letter. Wishing them the best...oh so good.

[@helenevans3963]

I really like the new format - but I miss seeing the participants faces really close up. There was something very intimate about that and it felt like you could really see what they were thinking. I don’t know if you can zoom in a bit more when people are talking - but for me that would amplify the viewer experience. Great episode. Always love your content.

[@Sato4013]

Usually i drive to work listening to Tuesdays pod. Missed this AM but here are!

[@playa4040]

My wife and I much prefer your style of advice Ramit and we love the in person podcasts. Keep it up!

[@peace-a]

They pretty much proved what Dave Ramsey and his team have always said, that most people who drive luxury cars are in debt. Those who drive a used older non luxury car have pretty high net worth with zero debt. Gotta say I got happy tears at end of this video. So happy for them!! 👏🏼 ✌🏼

[@Kibenwa]

Ramit at 57:36 Bombastic Side Eye 👀 😂😂 I really love Ramit's empathetic, humorous approach to dealing with his guests, and how he makes them see and understand their own cognitive dissonance and money psychology. Best personal finance show out here, no contest.

[@LORDJesusisLove]

I have enjoyed the episode. The new format will take some getting used to and I am here for it. Having tough conversations in person has its benefits, as does virtually. I think having both formats of virtually and in person will work nicely as we can learn from both

[@hawker4472]

I absolutely loved this format - hope we get to see more like this! I was amazed at how hopeful I was at the end - they really seemed to get the dynamic they’ve created and their plan seems like a good one so far. Keep it up! 👍

[@sevgistanbul]

I'm at 45:39 and can't help but comment for the first time as a long time loyal listener of this show. EVERYBODY loves driving luxury cars and/or taking frequent vacations, but our CHOICES based on our means matter more than our aspirations. Why do people in America keep acting like kids/teenagers even when they grow up? What is this entitlement feeling that everyone has?

[@FernandoValenzuela-k9n]

Their retirement and kids college educations are parked in the driveway. They also eat out all the time along with the vacations. Two wannabes....

[@all_things_mystical1376]

as what my husband always say…life choices

[@JORDIIMusic]

25:46 Definitely gave a shout out to Caleb Hammer hahahah

[@kvgolfa]

How do they only pay $160 a month for groceries for both of them and a kid? Also how are her total taxes

[@kellysuefitzharris7786]

Their outfits alone broadcast their dynamic of parent-child. She is dressed as a boss lady and next to her, he looks like a high schooler. No shade, just observations. Appreciate their bravery coming on the show. Enjoy the live format!

[@Gioli565]

These people are lovely but I am not sure I see them changing, they are used to living luxuriously and doing every single thing they desire.

[@danielvee2441]

I'm sure they still went to the restaurant the next day. No one cancels a top tier reservation that easily.

[@spf_500]

​@@danielvee2441I probably would have still went to tbh lol

[@sifta7]

I agree. It’s a spendthrift couple - but reminded me of the Beatles song “All you need is love.” Their follow up letter seemed genuine and I think they can turn it around.

[@ThatssoRaeReviews]

These podcasts are changing my life ❤️

[@kaleyhobbs]

I personally prefer the separate interview so each person can speak more honestly in a private setting away from their partner.

[@Nadzglam]

Wow! An in person interview!!! We are spoiled today!

[@elcee8]

It’s very fascinating to see what people value and spend all their money on. I’ve never been a car person (I still drive my 2005 corolla which I bought brand new at the time). A couple of years ago I went car shopping with my wealthiest friend, worth over tens of millions. We were at a used car dealership and ended up looking at a van that was on sale for close to $6000. Her husband wasn’t there in person but we were signing the paperwork’s with him on the phone and he started fake crying to the dealer “boo hoo I’m poor I can’t pay $6000” and his wife, not impressed with his negotiation tactics, said, “too late I already signed the paper” anyway, the moral of the story is, I guess some rich people keep their money by spending nothing. Others who don’t have this much money probably want to look rich - and I think it’s a survivorship mentality. If you don’t have money you don’t want to be judged for that.

[@amde8554]

We just traded in a 2012 corolla for a larger vehicle we bought in cash. We needed more space but those cars are definitely reliable!

[@elcee8]

@@amde8554 I know I love my corolla!! I will always remember the hospice nurse who I worked with when he said to me, “the only way your corolla dies is if you take it out the backyard and shoot it.” I’m going to save up to buy a Subaru in cash. Maybe a forester or an outback. If the forester fits my pedal harp then I’m going for the forester.

[@amde8554]

@@elcee8 my husbands previous Corolla lasted 14 years!

[@rachelesmith3342]

When you work really hard for your money, it becomes increasingly harder to want to spend it

[@marianalolato]

I love the new format! It is great seeing how you engage with them personally. in the virtual format, it seems that people are more comfortable (maybe because they are in their homes), but that seems not to impact the discussion after all. I've always thought that the written follow-ups are better than the video ones - I believe people put more thought into written form than in video. Also enjoyed that you are commenting more about the conversation. Thanks for doing this work! 😁

[@bcarroll1992]

Ramit, more in-person interviews 🎥 They’re both brave for opening up about their finances.

[@ramitsethi]

I agree, every couple that comes on to discuss their money and relationship is extremely courageous. Thank you for watching!

[@keshac7690]

I like the in person videos and I love the no judgement advice and respect given to every guest it’s just what this world needs. Thank you for being adult enough to understand how to handle people and their situations .

[@anjalianthony1656]

This was by far one of the best follow-ups! Their targeted decisions to sell their cars, reduce their guilty free spending to pay off debts is great to hear! Hope they stick to it. There is no better feeling than being debt-free!

[@TT-mq8yy]

Love the format here and unlike other KZbinrs, this guy is really listening and helping. Dave Ramsey could learn a thing or two hahaha @25:50

[@YolantaRosetta]

Loving the in-person interview! What a treat

[@Joce123]

I wonder what he thinks he will be earning after he is done with school

[@josephmarinucci9073]

Sorry, I have to take issue with the statement at 43:04 "Only two people who should get a [vehicle] lease, one if you are incredibly wealthy, or two if you have some kind of business." There is an old adage that applies here. Buy things that go up in value, lease things that go down in value. Certainly, you have to run the numbers first, and stay within your budget. But, it is possible to lease a vehicle for less down, a lower monthly payment, and then buy the vehicle at the end of the lease at a pre-agreed buyout price that is less than the current market value, and either cash out on the difference or keep it and drive it at a discount.

[@JDmix123]

Leasing is the dumbest thing to do. Ramit is absolutely correct.

[@TamiaPeach]

I think maybe putting body mics on the couple vs the standing mics would make it feel more intimate. For some reason, the zoom version feels more intimate and raw.

[@yixinjournal]

It feels like it has levelled up 3 grades when this is recorded in this setting! Love it so much. I'm looking forward to more exciting videos like this one. Thank you, Ramit.

[@melissap3539]

This format is a nice change of pace to see once in a while. I would prefer a ratio of 90% virtual format, and 10% in-person format.

[@jenniferhao8902]

I love the new setting, the energy feels so different, like there’s skin in the game when actually sitting across from Ramit. I really loved this couple, thank you both for your honesty and willing to change, you guys are going to be alright! So happy you were able to come together at the end and one of the best follow-ups I’ve heard. 👏🏻

[@ramitsethi]

YES!!

[@jaynez9027]

Does that say $160 food? I might have missed an explanation on that..

[@thehoteldeveloper]

I caught that too. I'm guessing they eat out every meal. With 76k in cc debt that would make sense. They are in an entirely different dimension. I wish I could be this out of touch with reality. I'm getting anxiety just watching this and it's not even my mess! Lol

[@jaynez9027]

@@thehoteldeveloper I know I’d love to follow them around for a week. I often think I’m in a rough spot with everything being so expensive and whatnot but when they said that much debt and they don’t pay for daycare!?! I was like.. wait what are they possibly buying?

[@julianakennedycpa9570]

Amazing interview. And yes they are not alone. I do come across folks like them all the time and do manage to get them out . Thank you for your show , I know together we can help society live a better life. 👏👏👏

[@loveBerk]

😂just visited for the new episode here it is❤And it's live in person ❤

[@kjmamma2146]

I like the in person format. I’m hoping you’ll do a follow-up episode with this relatable couple.

[@Dlwood55]

I love in-person interview. Nice formatting.

[@legrindem-her]

Everyone should watch your videos. Amazing content.

[@michaeldavid9651]

It looks like they must have only listed the equity in their house as an asset? If they have a $414k mortgage? Shouldn't the full value of the house be listed as an asset, not just their equity? Or are they somehow $200k upside down? Or am I doing my CSP wrong, Ramit?!

[@cecilia2001]

I was wondering the same. Their numbers look wrong and if they only included their equity in their assets, that means their total net worth would actually be positive once they fix their CSP (as opposed to -300k). That would be such a relief in their situation!

[@Kelly-ry8es]

Whoops, I think you're right.

[@stenciljunkie]

Ramit, if you read this. You are an incredible coach! I’m learning a ton just by watching how you handle these conversations. Thank you for sharing!

[@capecodero]

I am 38, my net worth just crossed a million, i drive a honda accord 2013 that i bought in 2015, cars are definitely keeping people poor.

[@chichih9631]

What a good and specific plan they put together at the end! Good for them. I really wish them the best!

[@nikkig1146]

Love the special in person interview!!

[@stoplightslaw]

this is like the jerry springer or dr phil show of finances... with real people sharing their private fianancial problems...so interesting in person or online...even though there are similar issues, it never gets boring.... keep them coming..you learn not only about personal finance but also psychology...Ramit is like a financial therapist... One of the most practical YT finance channels...everyone else just provides lists and duplicate info...this channel actually provides real life examples of fianancial challenges people are facing... each one is similar, yet also different personalities...