268. "We Make $150K… So why are we broke?"

Ramit Sethi of I Will Teach You To Be Rich talks to Lauren and Mick, a married couple in their 30s with two kids, $93K of debt, and a dream of moving into a bigger home. They earn around $150K a year combined, but with 89% of their take-home pay already going to fixed costs, just $5K in savings, and years of impulsive spending, their money is stretched far beyond what their lifestyle can support.

Both Lauren and Mick have ADHD, which they say makes it harder to manage bills, avoid dopamine spending, and follow through on financial systems. Ramit acknowledges those challenges while encouraging them to explore a deeper issue: ADHD can make money management more difficult, but finding ways to navigate those challenges is still an important part of making the financial decisions their family depends on.

In this episode we uncover:

• Why Lauren and Mick earn $150K but still only have $5K in savings

• How $93.5K of debt is keeping them trapped

• Why their 89% fixed costs make a bigger house impossible right now

• How ADHD affects their impulse spending, overdue bills, and financial systems

• How consolidating $35K of credit-card debt did not solve the behavior behind it

• Why they have avoided fully combining their finances after seven years of marriage

• How Mick losing his job for a year changed their relationship with money

• How both of their childhoods shaped their current spending habits

• Why wanting a third child and bigger home is creating pressure they cannot afford

• Why small cuts will not fix a structural financial problem

• Why Ramit says their household needs a clearer path to $200K in income

• What it takes to turn a fantasy of a better life into a real financial plan

• How Lauren and Mick responded after the conversation

Chapters:

(00:00:00) They admit their biggest money mistake

(00:01:18) Meet Lauren & Mick

(00:02:04) Their shocking financial numbers

(00:05:05) How ADHD affects their spending

(00:07:08) LEGOLAND, LEGO, and impulse purchases

(00:12:22) How job loss changed everything

(00:17:38) Breaking down their finances

(00:21:22) "Do you respect money?"

(00:24:40) Why 89% fixed costs is a disaster

(00:26:24) Breaking down $93,500 in debt

(00:33:15) Why they still want a bigger house

(00:35:11) How childhood shaped their money habits

(00:42:43) Why they keep resisting a financial plan

(00:53:00) Rebuilding their spending plan

(01:02:21) Can they earn more money?

(01:08:36) Ramit rebuilds their budget

(01:14:16) The income they actually need

(01:16:56) Their new financial plan

(01:21:23) Lauren & Mick's biggest takeaways

(01:24:17) Ramit follow-up: ADHD & money

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