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Start for freeRamit and Cassandra's Money Story
Ramit Sethi, bestselling author and financial expert, recently did something he's never done before - he put himself and his wife Cassandra in the hot seat to be interviewed about their personal finances and relationship. As someone who has built a career advising others on money, Ramit admits this was more nerve-wracking than shooting his Netflix show or going on tour.
The couple opened up about their different backgrounds, keeping separate finances for years, running their own businesses, having different incomes and strong opinions about money, and navigating a prenup. While their relationship is complex, they've learned how to bring their differences together and stay connected through open communication.
Early Money Experiences
Ramit and Cassandra came from very different financial backgrounds growing up:
Cassandra's experience:
- Parents both worked full-time with strong work ethic
- Didn't travel much as a child but parents found ways to make sports and activities happen
- No real conversations about money growing up
- Had an amazing childhood but money wasn't discussed
Ramit's experience:
- Parents immigrated without much money
- Very frugal out of necessity
- Father loved finding deals and discounts
- Mother would find creative ways to afford activities for the kids
Ramit shared a story about his father keeping an old check for 15 years to get a resident discount at Disneyland, showing the lengths his parents would go to save money while still providing experiences for the family.
Meeting and Early Relationship
Ramit vividly remembers seeing Cassandra for the first time at a friend's barbecue and being drawn to her "California energy" and big smile. On their first date, he accidentally spilled water on her but was impressed by how she laughed it off.
Early on, they were looking for different things in a partner:
Ramit wanted:
- Sense of humor
- Interest in self-improvement
- Shared values
Cassandra wanted:
- Sense of humor
Now after a decade together, they've realized other qualities are important:
Ramit values:
- Resilience
Cassandra values:
- Positive outlook
Money Conversations and Challenges
One of their biggest challenges was navigating discussions around a prenup. Ramit approached it wanting to be generous, but Cassandra had concerns about safety and security. This led to difficult conversations until they saw a therapist who helped them uncover the emotions behind their views on money.
Cassandra admitted she had a scarcity mindset around money initially. She's had to do inner work through journaling, mantras, and coaching to shift to a more abundant mindset. This has positively impacted their relationship and her business.
For years, they kept their finances mostly separate. Cassandra wanted to prove she could manage on her own. Recently, they've started combining finances more, which has strengthened their connection and teamwork.
They still have some recurring disagreements, like:
- Ramit prefers setting strict rules, while Cassandra wants flexibility
- Cassandra connects money and emotions more than Ramit
- Ramit sometimes procrastinates on money meetings
But they've learned to communicate better and find compromises.
Managing Finances as a Couple
Some key aspects of how they manage money together:
- Bi-weekly 30-minute money meetings on Thursday mornings
- Quarterly review of numbers and budgets
- Annual "rich life review" to set spending goals
- Cassandra handles most of the tracking and analysis
- They discuss how to allocate extra income from their businesses
- Try to simplify with percentage-based rules where possible
They've also had to navigate the complexities of running separate businesses with different income levels.
Spending Priorities
Some of their guilt-free spending priorities:
Cassandra:
- Self-care like massages, acupuncture, hair/nail appointments
Ramit:
- Travel
- Fitness
- Clothes
- New York apartment
They've realized they don't care as much about having a fancy car after leasing an expensive electric vehicle.
They're willing to work hard and do extra to fund their guilt-free spending categories.
Entrepreneurship and Career
Cassandra has built a successful styling and image consulting business called Next Level Wardrobe. Ramit has supported her journey while being careful not to overstep with unsolicited advice.
Cassandra gets frustrated when people assume she's just riding on Ramit's success, as she has over 25 years of experience in the fashion industry and has built her own multi-million dollar business.
They've learned to be equal partners who can ask each other for business advice and support.
Relationship Dynamics
Some key aspects of their relationship:
- Had to work through resentment over division of household chores
- Created a chore list to more evenly divide responsibilities
- Ramit has become more in touch with emotions and feelings
- They ask if the other wants support or advice in conversations
- Both value having a good sense of humor
- Cassandra helps Ramit be more flexible and in tune with feelings
- Ramit helps Cassandra see abundance and possibility
Lessons Learned
Some of the most valuable things they've learned from each other:
Cassandra learned abundance mindset from Ramit
Ramit learned the importance of understanding and expressing feelings from Cassandra
They've realized:
- It's okay to make mistakes and learn from them
- You don't have to have everything perfectly figured out
- Open communication is crucial
- A true partnership allows you to build more together
Closing Thoughts
Ramit reflects that being vulnerable and sharing their story publicly was challenging but ultimately rewarding. It gave him more compassion for others struggling with money issues.
He hopes that by opening up about their imperfect journey, it shows that you can still build a rich life together even when everything isn't perfectly dialed in. The key is acknowledging what's working, celebrating it, and then working together on the areas that need improvement.
Ultimately, Ramit and Cassandra have built a strong partnership founded on open communication, shared values, and a commitment to supporting each other's growth - both financially and personally. Their story demonstrates that with effort and understanding, couples can overcome differences to create a truly rich life together.
Article created from: https://www.youtube.com/watch?v=6paRo1nr-Tw
