Ramit Sethi spoke with a low-income couple and laid out a few steps they can take to curb their credit card debt and actually save for their future.
They got married 13 years ago and were"dirt poor" at the time. However, they haven't made much progress toward a better financial situation since then, they"Technically, we've made it — we're making way more than we made when we first got married — but we haven't," Elizabeth said on the podcast."We're still in the same place that we were 13 years ago, but worse, actually, because we'reSethi has seen on the show.
He asked Elizabeth and Jon to think about what they would want to do with their money if they weren't worried about the bills and debt piling up.— which were $0 at the time of the podcast recording — and invest more for the future. But that would mean cutting back on shopping.The couple wants to stop worrying about money, but their current spending habits will not help them achieve that, Sethi told them.
Jon and Elizabeth say they've struggled to build up savings because something always comes up. They'd save $100 and then have a $100 expense — whether it was a need or a want — and the $100 would be gone again.Sethi asked Elizabeth to look at her email inbox and tell him who sent the first five messages. She listed off several retailers.
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