"We make $167k. Why do we feel poor?"

Ramit Sethi of I Will Teach You To Be Rich talks to Drew and Amanda, a married couple earning around $167,000 a year with a net worth of over $800,000. On paper, they look financially successful but behind the scenes, their fixed costs are dangerously high, their savings are low, and their spending decisions are causing tension in the relationship. Drew admits he struggles with spending, while Amanda finds it difficult to say no, leaving them stuck in a pattern where money feels stressful instead of empowering. In this episode we uncover: • Their household income of around $167,000 a year • Why they still feel financially stretched despite a strong net worth • Their surprisingly low savings compared with their assets • How fixed costs reached around 89% of their gross income • Drew’s struggle with spending and impulse decisions • Amanda’s difficulty saying no without feeling like the “bad guy” • The hidden relationship dynamic behind their financial stress • Why eating out 6–8 times a week became a major spending leak • The role of bonuses in justifying bigger spending decisions • Amanda’s childhood experiences with financial instability • Drew’s “you only live once” money mindset • How their daughter is learning from their financial behaviour • Ramit’s challenge for them to stop making emotional money decisions • Why vacations may need to pause while they rebuild savings • Their plan to create a family money philosophy and emergency fund ⏩ CHAPTERS (00:03:15) Why Drew applied to the podcast (00:07:00) The hidden decision-making problem (00:10:30) Why they don’t feel like a team with money (00:16:15) Their financial numbers revealed (00:21:15) The reality of their household income (00:29:25) Fixed costs are the real problem (00:33:10) The truth about eating out (00:35:50) How bonuses fuel spending (00:39:30) The couple who struggle to say no (00:45:30) Amanda’s childhood money story (00:56:30) Their inherited money beliefs (00:58:20) Starting their Rich Life vision (01:04:00) Pausing vacations to rebuild stability (01:10:00) Drew practices saying no (01:16:30) Amanda’s role changes (01:20:30) Cutting subscriptions and eating out (01:29:30) Redirecting money toward savings (01:36:00) Creating a family money philosophy (01:44:30) Ramit’s final advice 💡 RAMIT’S PODCAST NEWSLETTER • I share new ways to think about money every Saturday. Get the emails here: https://iwt.com/podcastnewsletter 🙌 GET HELP FROM RAMIT SETHI • Order my new book: Money for Couples: https://iwt.com/moneyforcouples • Take control of your money with the Conscious Spending Plan: https://iwt.com/csp • Optimize your credit cards with the 1st chapter of my book: https://iwt.com/chapter1-pod • Join my Money Coaching program for monthly help: https://iwt.com/moneycoaching • Listen to my book — now on Audible: https://amzn.to/48zko28 🤳 CONNECT WITH RAMIT SETHI • Instagram: https://www.instagram.com/ramit/ • X: https://twitter.com/ramit ✅ SUBSCRIBE SO YOU DON’T MISS ANY EPISODES https://youtube.com/user/ramitsethi/featured/ THIS EPISODE IS BROUGHT TO YOU BY Shopify | Sign up for a $1 per month trial period at https://shopify.com/ramit Gelt | Book a tax consultation with Gelt at https://joingelt.com/ramit. DeleteMe | Get 20% off all consumer plans when you go to https://joindeleteme.com/ramit and use promo code RAMIT at checkout Wispr Flow | Try Wispr Flow for free at wisprflow.ai/ramit Calling LA couples: Apply to be coached for free on this podcast at https://iwt.com/apply