Katie and Cal are in their mid-twenties and, after moving around a bit, they live back home in Alaska with their young children. They bring in about $100k a year and have a good chunk of debt, about $25k of that they transferred to Katie’s mom for a better interest rate—a move which has hopelessly entangled her in their finances.
What do you do when a family member who means well (they all do) oversteps the line? Listen in to hear how Katie and Cal come to terms with the truth—that her mom’s influence has got to go—and how they might start to enact that very difficult change in their lives.
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59. “98% of our net worth is in real estate. Are we in trouble?”
58. “If we want to retire, we’d have to live on $36k”
57. “I feel ashamed about having another child because we’re still renting”
56. “We have $200,000, but we’re afraid to take a vacation”
55. “My top 5 lessons from one year of interviewing couples about money”
54. “We grew up poor—but we could be millionaires” (Part 2)
53. “We want to break the cycle of generational poverty, but we don’t know how” (Part 1)
52. “He hides purchases from me—and I let him”
50. “Maybe buying this condo was a mistake” (Part 2)
49. “Our housing expense unexpectedly went up $2K when we bought our first home” (Part 1)
48. “My husband needs a better job, but he hates the idea of earning more”
47. “We make $500k. Why are we carrying a balance on our credit cards?”
46. “The ghost of FIRE still haunts our money mindset—we can’t enjoy money”
45. “She tells me that it’s my fault we can’t live the life we want to live”
44. “Trust in the universe and it (or my partner) will provide”
43. “Our $300k income is variable and declining but we aren’t adjusting our lifestyle”
42. “We’re worth $5.7 million but we’re arguing over the price of chocolates for Valentine’s day”
41. “My wife won’t admit her business is failing and we constantly argue about it”
40. “We’re worth $5 million but my wife nearly canceled our trip to save $200”
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