193. “I’ve filed for bankruptcy twice. Will I ever stop spending?” (Part 1)
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January 28, 2025
TLDR: LaKiesha (38) and James (45), struggling with chronic overspending, have moved in together despite complicated financial pasts; bankruptcy, lack of savings, and differences in spending habits and values challenge their relationship.

In this episode, Ramit Sethi explores the complex financial dynamics between LaKiesha and James, who are entrenched in a cycle of overspending and debt, including previous bankruptcies. Their journey reflects common struggles many couples face regarding money management.
Key Themes Discussed
The Cycle of Overspending
- Defining Wants vs. Needs: LaKiesha and James are caught in a pattern of confusing wants as needs, leading to transactional spending driven by immediate gratification rather than thoughtful considerations for the future.
- Immediate Gratification: Both are often unaware of the long-term consequences of their spontaneous purchases. LaKiesha mentions enjoying money now instead of planning for future security.
- Impact on Future Planning: Their financial habits have resulted in significant debt and limited savings, demonstrating a lack of financial foresight.
Complicated Financial Histories
- Financial Baggage: LaKiesha's previous bankruptcies and James's low asset accumulation contribute to their mistrust and tension in their relationship.
- Divergent Upbringings: Their different upbringings affect their financial views—James as a cautious spender conditioned by his upbringing, and LaKiesha driven by impulses stemming from her childhood experiences at home.
The Conscious Spending Plan (CSP)
- CSP Overview: Ramit introduces the concept of the Conscious Spending Plan, breaking down LaKiesha and James's income, assets, debts, and spending habits.
- Debt Analysis: Combined, they owe over $190,000 in debt, with LaKiesha's debt far exceeding James's. This stark reality pressures them to confront their poor spending choices.
- Budgeting Realities: Their fixed costs take up a large percentage of their incomes, leaving little room for savings or investment. LaKiesha's inability to correctly identify and reconcile her spending habits highlights a significant area for growth.
Cultural and Psychological Impacts on Spending
- Wired Perspectives: Both LaKiesha and James struggle with deep-seated beliefs about money learned from their upbringing.
- Psychological Triggers: LaKiesha recalls her childhood experiences and how those shaped her current relationship with money, reflecting patterns of guilt-free spending, which aren’t sustainable.
- Accountability in Relationships: LaKiesha seeks accountability whereas James plays the role of the 'voice of reason,' creating a dynamic reminiscent of parental guidance versus childhood rebellion.
Insights and Takeaways
- Importance of Understanding Financial Behavior: The episode emphasizes the need to recognize one's financial patterns and their origins to create change.
- The Power of Discussion: Open conversations about financial habits within relationships can foster understanding, build trust, and pave the way for cooperative budgeting.
- Potential for Growth: Ramit conveys hope that both LaKiesha and James can alter their financial futures by shifting their mindset from spending for today to planning for tomorrow.
Moving Forward
LaKiesha and James are encouraged to confront their financial behaviors, establish clearer communication, and actively work towards building a financially secure future together. The second part of their discussion will delve deeper into practical changes they can implement.
Through this analysis, the episode extends powerful insights into the necessity of accountability, perspective shifts on spending, and the influence of early experiences on current financial habits, providing a reflective narrative for listeners grappling with similar challenges.
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As it relates to money, I don't value it. It's disposable. Meet Laquisha and James. Laquisha is 38, James is 45, and they are caught in a cycle of overspending. Getting things that I can't afford, but I will convince myself that this is out of necessity.
I have set my future self-help for failure. I have not thought about the future because the future seems so far away, and I wanted to enjoy my money now. Their spending habits have stopped them from saving and investing. It's heartbreaking. I wish I did that. There was nobody else to hold me accountable.
And they've both accumulated a lot of debt, which has even caused Laquisha to file for bankruptcy. I know for a fact that I need to do better with money. Laquisha and James recently moved in together and they have brought their complicated financial histories with them.
I got a check and it was in her handwriting, but it was from my account and it was to Tiffany's. It said on the memo line, Mom's birthday gift. My dad was the breadwinner at our house. He was like, work hard and get by. That's how I've been living the last 40-something years of my life. Can they work through their money histories and create a shared vision of a rich life? We've talked about money, but it's more from a lack of, right? I want to get on the other side of that.
Let's meet Laquisha and James. I'm about to open up James and Laquisha's conscious spending plan, which breaks down their net worth, income, and where they spend. You can download your own version of the conscious spending plan or CSP at IWT.com slash CSP.
Okay, I'm looking at the CSP for James and Lakeisha. James is 45. Lakeisha is 38. Let's take a look here. Assets. James has no assets. Lakeisha has $21,000. No investments.
No savings, okay? James has $26,000 of debt. Laquisha has $165,000. Didn't she just declare bankruptcy? I don't understand this. Combined, they have $190,000 of debt. Okay, let's look at the income. He makes $5,000 a month, so about $60,000 a year. She makes $7,300 a month, so about $88,000 per year. Okay, I mean, combined, that's a lot of money.
But individually, we can already see in the fixed costs, he's at 67%, which is too high. And let me just look here. Yeah, that doesn't include his debt payments are $25 a month. So that's actually artificial. It's going to be much higher, probably like 73, 75%. She's at 69%. She's paying $205 a month in debt payments. There's no way if you have $165,000, you're paying thousands per month. So that's also artificially low, probably like 80%.
All right, well, a couple of other things that stand out to me in their fixed costs. They're rent or their mortgage is quite low, 16%. That's not bad. Car payment, a little high, 950. Okay, groceries, only 400 bucks. Okay, that's good. Cigars and alcohol, excuse me, I don't recall putting that in my CSP. Was that a line item I added? Anybody? Okay. How are you gonna add?
$450 a month for cigars and alcohol when you have $190,000 in debt. No, no, no, no, we're going to fix this. Cell phones 125 and 170, I guarantee you at least one, maybe both of them were paying for their kids and other people. Subscriptions are not bad. 110 total and miscellaneous, 330 and $500 a month. No, we're going to fix that.
zero investments, zero savings, that's not acceptable. And then, yeah, I don't believe this Guilford spending number. It's basically, I think they just don't track it at all. And I do think they spend thousands. The CSP indicates $3,103 together.
But I don't think they know how much they spend, so we'll find out about that. The reason I don't think that. Some people spend a large amount of money on guilt-free spending, and I can tell that they're probably telling the truth. You can see the clues in the CSP. The fact that they have $190,000 of debt and they're paying almost nothing towards their debt tells me they're not
carefully tracking any of this. The fact that they have zero savings and zero investments tells me that there's a lot of sloppiness that we can work together to improve. Now the good news is they do have thousands of dollars left over per month.
So, that's good. Now, we need to figure out how to reallocate this money. For me, I'm looking at their fixed costs. They don't have a lot of huge fixed costs. We're going to fix that cigar and alcohol thing right now. We're going to fix that miscellaneous thing right now. And we're going to get some savings and investments going. But I need to understand more about what brought them to this place. I'm excited to talk to James and Lakeisha.
Before we jump in, I want to share a few things. Lakeisha and James are in a romantic relationship and they recently moved in together. There's a possibility of marriage in the future, but according to Lakeisha, it won't happen unless they get on the same page with their finances. In their application, Lakeisha wrote that James doesn't want to discuss their money.
She wrote, it's almost impossible for us to create a plan. Us getting on the same page regarding finances is a deal break. Obviously, the stakes are high, so I'm looking forward to helping them out. And to start to figure out what's going on, I asked Lakeisha about a recent shopping trip to Target.
went to Target. I was supposed to just drive up and pick something up. But he said, like, I'm going to go in and get some water. And then I said, I'm going to go in with you. And he's like, for sure. And I was like, can't spot. I go in. I told him, I just want to go to the dollar section. I went to the dollar section. I also went to the clearance section. I probably spent $50 more than just the drive up. What'd you get for 50 bucks?
I got an outfit and I got my daughter a sweatshirt and from the dollar section, I got like a little headband in like wristband things that you could wear like when you're washing your face so water doesn't get on your hair.
All right. James, I know you don't love talking about money. And I know that it's taken a lot of courage for you to show up today and talk about it, which I appreciate. And I'm curious about the target experience. You go to Target with LaKisha, she's got a list. She says, hey, I'm going to just go inside and walk around. And you said, really? Just say it for us like you said it. She was like, I'm going to go in too. I said, do you really need to do that? Wow.
we have conversations like this all the time, so. How often do you say something like that? I'll probably say about two or three times a week. Whoa, that's kind of a lot. Don't you think? She likes to browse Amazon and things like that. So you see her, was she like on her phone or laptop and you just kind of see her and then what do you just walk up to her and what do you say? With Amazon, I'd definitely say something. You don't need to buy that at all.
Okay. Just so everybody has Laquisha smiling right now, she's kind of looking down. I take it that you agree that this is what happens, Laquisha. Yes. When we were living separately, we both get paid on the same day.
When it was payday, we would usually first call each other first thing in the morning. And there sometimes when it's payday, he would reach out to me first. Usually I reach out to him. And so he'll call me and be like, you're too quiet. What are you doing? Are you on him? Because he would just assume that I was up.
in spending money because we just got paid. And I would say that there is some truth to that assumption, not every time. Sometimes it's me paying bills or whatever. But yeah, so he attributed my my silence on payday to me spending money. That's interesting. James, when you asked that question, you know, you're too quiet. What are you up to? Or you don't really need that. What?
Is your role in that moment? I guess a voice of reason, maybe? Oh, okay. And if you're the voice of reason, then who is? I'm not sure. Will G.B. teach me? I don't know. The voice of being unreasonable. I don't know. Why is this such a struggle for you? I'm not sure. Let's shift roles. Let's say that I said this to my wife.
First of all, I'll never say this to my wife. But let's just say that I did. And I'm going around looking at her, scrolling on her phone. And I'm like, you don't need all that. Or you're really going to buy that? Watch, put that away. We don't need that stuff. I'm the voice of reason who's my wife in this scenario.
I don't know. You got me thinking real hard. What are you thinking about? Past things where my dad asked me if I needed that. Oh, forget the forget this role thing. Then let's talk about that. What about your dad? What's your dad saying? Was your dad the voice of reason in your relationship? Yeah. Love it. Yeah. And what did he say to you? James, do you need that or what are you doing? Okay. Love it. How old were you at this time? Take me back.
Oh, man. Are we up to my 20s? You know what I mean? My whole life, you know? So like five years old, you remember this up to your 20s? Correct. Yes. Okay, wow. And can I ask you a question when you were a little boy, go all the way back, five or six or seven years old. Your dad says this to you. What did you feel? I guess guilty at some point. At some point, you know, I'm glad he did say something because it stopped me from doing things that I probably shouldn't have done.
Why shouldn't you have done them? Because at that time, you were a child in Brook. What else? As you got a little older, you got a paper route, summer job, maybe you weren't as broke. But what were you? Learning, irresponsible, irresponsible, unreasonable. So your dad was the voice of reason and you were?
irresponsible, unreasonable. Wow. And so now, you have somehow elevated. It's crazy. Your dad was a voice of reason. Now you are. And now, what's Laquisha? Unreasonable. And?
Do I get to say it? Yes. Irresponsible. Okay. Don't worry. Nobody's getting in trouble here. I'm not saying that James ever said to Lakeisha, you are irresponsible. But do you all see that I'm trying to help you see the different pieces on the chessboard? Yeah. Absolutely. Okay. So if the role is voice of reason, which you yourself gave that term, James, then it stands to reason that the voice of reason is speaking to teaching
lecturing the irresponsible and unreasonable one. Now, let's just tie this all up with a bow. Laquisha, how much debt have you been in in your life as an adult? In the six big years, including student loan. Over $100,000 of debt, correct? Yes. Okay. And some of that was purely discretionary. You charge stuff up on credit cards. You bought stuff you couldn't afford, correct? Yes. Okay.
And when you went to Target, you had a list, you already had the stuff pre-bought, you went in there, you dropped 50 bucks on stuff that you probably did not need, correct? Yes. And are you still in debt right now? Yes. Okay. So do you all see that the rules are not far from what we're talking about? I certainly wouldn't call my partner unreasonable and irresponsible. But I do think the behavior of charging up a bunch of stuff when you don't have the money to pay for it is
unreasonable and irresponsible. I agree. Did your mom take you to Target when you were a kid? It might have not been Target, but yes, I definitely remember going to the stores with my mom. It was usually my mom and my siblings. Sometimes it was fun because we knew that the chances of us getting something were greater if we went. But if we did not go, we were definitely not getting anything, right? So
So it was always, if she was going to the store, we would want it to go. For the most part, I remember it being fun. But there was, there was some stressful moments going to the store too. People don't write checks as much as they used to, but.
She used to write checks and they would bounce a lot. And so there was a certain sense of anxiety or maybe even embarrassment when it came time to pay, like, oh God, here we go. So for that reason, there were times where I would just opt to go. You would opt not to go because the payment part was too anxiety inducing. Yes. Wow. What did you tell your mom when she asked you, do you want to go to the store? What would you say?
I'm okay. She would sometimes like make a list, right, of all the places she need to go. And so I would attribute it to like, I don't want to be out all day or I don't want to run all those errands. So I'll just stay back. But sometimes I didn't have a choice. Like she didn't want to leave us home for too long. So we would have to go. Give her hide purchases from anybody.
I was sometimes embarrassed with James. There was one point in time where I was buying a lot of stuff on Amazon to the point where you know those big plastic containers that they put your packages in to like transport on the actual truck.
There was one point in time where I had so many packages that they just took that plastic package and left it, like inside the building. And inside that package, there was like five, seven different packages. OK, do you have a lot of stuff in your house? Yes. Yes. James James just smiling quietly. James, what do you say? Yes, she has a lot of stuff. And yes. And what kind of stuff?
She likes smaller things, I guess you should could say. So there's all type of contraptions and container things. Laquisha, what do you have? What kind of stuff?
I have a lot of things. I like color, right? So there's color everywhere. Some of the times when I shopped, it's impulsive. So a lot of times I will buy something and then we'll later be like, I don't need this. Or I'm mad at myself that I even purchased it. Sometimes when I see a need, immediately I'll try to purchase it. So the other day it was snowing. James went downstairs in the basement to do laundry. When he came back up, there was snow.
It was wet all over the floor and there I didn't have a rug in the back like by the deck. And so I bought a rug, but not only did I buy a rug, I bought like a boot tray so that the water doesn't get everywhere.
It's kind of striking that the example you just are giving me is a need, a functional need. Would you say that that's supposed to see what you buy? I don't think so. Not mostly what I buy, but it'll be things that I feel like is a need. I'll give you an example. I'll have a dehydrator. Come on. Who buys this? There's only people who buy it around QVC, and then they never use it. They're like, oh, I could get.
A lot of fruit or whatever a dehydrator, I don't even know what it does, okay? But it looks cool. All right, so you bought it, how much did it cost? It was less than 100. Okay. More than 50. What did you get out of buying the dehydrator? Absolutely nothing. Nope, that's not true. You got something out of it, otherwise you wouldn't have done it. Think about the moment you decided to buy it. What did you get out of it? Satisfaction.
That's a pretty bland word. Do you have any other words to describe the feeling? I imagine you were feeling somewhat elated, happy.
Not necessarily because sometimes almost immediately I feel stupid. Obviously like, why did I get that? But what happens before you feel stupid? I think of all the things that I can do with it. I feel accomplished. Yes. Keep going. I feel accomplished. I feel productive, successful. There was a certain sense of independence I felt. Tell me about that. Lately, I've been just on this thing where
I want to do everything myself. I'm so used to doing everything myself. So the more I've had to do, the more I want to do a sense of control, essentially, I want to make all the things myself, even if it's
would be easier to just go buy some dehydrated fruit. I can do it myself. So there's a certain sense of freedom and independence out when mine, those things. Can I make an observation? Sure. The target story was really interesting to me because you had a list, sounds like you had maybe pre-purchase the stuff, you just need to pick it up.
You go inside, the way you describe it was almost like a very excited young woman. You know, like a little girl even, going into the store. I don't know what I'm gonna get.
and you picked up a bunch of stuff. Very excited. Look at the smile on your face right now, right? And the way then you describe going up with your mom, there was almost this slot machine of reinforcement and punishment. Sometimes I go to the store and sometimes I get something which every little kid wants. Sometimes I go and I'm punished because I have this embarrassing situation with my mom. It's so embarrassing that sometimes I don't even want to go with her. Fast forward.
Here you are, an accomplished woman still recreating some of those same feelings. I buy it, I feel excited, all these identity creations. I'm going to be this person if I buy this thing. And then the slot machine pulls and maybe you lose. I feel stupid. I feel embarrassed.
All of those feelings remind me very much of how you describe going shopping with your mom. What do you think about that? I've thought a lot about my childhood and connecting it to my experiences with Monday and financially, but I never considered or made that connection before. And how does it feel to hear that connection? I feel like my heart rate probably just went up a tick and I don't know why. Wow.
Let's take a second and try to figure it out.
This is why I love my job. The experiences we have throughout our lives affect us in ways that are sometimes hard for us to even understand ourselves. For Lakeisha, she knows that her childhood impacted the way that she views money, but she never really made that connection to this one specific experience until we just discussed it. Now that she's seeing those connections, we can really get to work on changing her money psychology.
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Get your free element sample pack with any purchase at drinkelement.com slash remit. Try a totally risk free. If you don't like it, you will get your money back. No questions asked, but this deal is only available through my link, which you can click in the description below. Welcome back. Let's keep talking to Laquisha about the connection between her childhood and how she handles money today.
I've tried to disconnect myself in a lot of ways with those experiences, but the fact that that connection is tear regardless of how much I try to disconnect from it. I think it's just unsettling. Does it scare you? A little bit. Yeah.
because I don't know what else is there that I haven't thought about. That's a really good point. So if I'm hearing you, you're saying I've tried through a lot of work to disconnect some of the things that I grew up with from my mom. And it's scary to realize that there's still this invisible connection I didn't possibly even know about. And maybe there are other things.
Yeah, I think that's the scariest part that maybe there are other things that I don't know. Just so I understand, maybe there are other things I'm doing today as a result of what I saw growing up. And I don't even, I'm not even aware of it. Is that what you're saying? Yes. Okay. All right. Well, I have good news and bad news. The bad news is,
Definitely, yes, there are a lot more things you're probably doing today with your money, unconsciously, unknowingly, that we could probably trace back to somewhere in your past. That's the bad news. The good news is that we all do that. Every one of us has some sort of unconscious, unknown thing. We do behave with money, talk about money, feel about money that could be traced back to our past, and we can also change some of those things. When was the last time you had fun talking about money?
Never. I don't think it's fun. And why is it not fun? What's the not fun part of talking about money? I don't know how.
Oh, we could fix that. James has to also be open to it. He has gotten so much, even from the time that I submitted the application to yesterday, he has gotten so much better with not alluating the conversation. So there's definitely progress there. Okay. So it's not fun because you don't know how. If you knew how, would it be fun? It would be fun if James would
engage willingly in those conversations with me. Yes. Okay. I love that. And do you think he will? Yes. Has he in the past? We've talked about money, but it's it's come more from a lack of, right? I want to get on the other side of that and abundance. I love that. Those are some of the most fun conversations to have. Yeah.
You can still have fun if you're in debt. There's no doubt about it. You absolutely can, but it's a different type of fun. It's like, hey, we're in this, we're in this struggle together right now. Let's talk about how we're gonna get out of it. And there is something very bonding about that. Very. I gotta tell you, do you remember that book The Firm or the movie The Firm with Tom Cruise? It was like in the 90s. I saw it when I was like 14 years old. I saw it with my mom.
Any Asian or Indian person knows this, but I'm going to tell everybody else, never see a movie with a love scene with your mom. I literally wanted to die. Anyway, at the beginning of the movie, there's what I consider a very romantic scene. Not the way a lot of people think about romance. Let me tell you how I think about romance. They're in this Boston apartment. It's little. He has no money. Neither does she. They're eating Chinese takeout. They're struggling.
That's their life. He's a student and then suddenly he gets an offer for a lot of money to be a lawyer and it changes everything. And to me, I loved that part of the movie because they were working for something together and then they got it and it changed everything. And so I see connection and bonding and even romance
when you have debt. Of course, I want to help you get to the other side where you've paid that off and you're living in abundance because that's a whole different kind of fun. But for me, you can be connected at both parts of the process. We've been able to connect a lot of clues from Laquisha and James's past that affect their current relationship with money. Now I want to go back to that target incident where Laquisha seemed to spontaneously buy $50 worth of items that she didn't really need.
I want to talk to James about his response to that situation, which was to say, do you need that? Listen to how he feels about that. Now that we've connected his role as the voice of reason to his childhood.
Maybe I should handle it a little bit differently. I don't want to sound like I'm trying to be her father or anything like that, because I got issues too. But, you know, it's just something sometimes, you know, I just try to get her to understand, sir, purposes is unnecessary. Does it ever work? Sometimes. Sometimes.
That sound like when you tell a kid, like, don't eat all this candy and like one out of 10 times they listen to you. And then I'm like, hey, dad, does it ever work? And you're like, God, sometimes. You know what I mean? That's a kid. They don't know what they're doing. They just want candy. Adults.
partners, we don't want to have those kind of conversations with them like that, right? You know what I notice is both of you following in the footsteps of what mom or dad did, like it's affecting your financial behavior today. It's pretty interesting, don't you think? Yeah, absolutely. Okay. And James, had you made that connection before? Not until like last night and today,
My dad was the breadwinner in our house, you know. My mom was a stay-at-home mom. And he was like, work hard and get by. And that's, I think that's how I've been living the last 40-something years of my life. Just trying to get by. And I'm trying to get out of it. Work hard and get by. What does that mean?
Just doing a bare minimum, I guess. You know what I mean? Just trying to have enough. I'm going to try to get out of that. Would that be, for example, if you make a little extra money, you don't save it, you spend it? Is that what you mean? Yeah. Yeah, that too. Yeah. OK. What else?
get paid, spend the money on things you need, and sometimes some of the things you don't need, and then not saving anything, and just trying to make it to the next paycheck, you know? And if somebody had asked your dad, for example, what are you gonna do 20 years from now? What would he have said? Yeah, I'm not sure. I'm not sure. Okay. Right. Right. Is your dad still with us? Yes, he is. Yeah. Okay. How's he doing financially speaking?
He has some struggles. I mean, he owns his house, but if he would unfortunately leave here, I would know what would happen to my mom, what would happen to us, the other things, the things like that. I wouldn't be positive that she would be okay. Wow. Okay. And because your dad was the breadwinner, do you ever talk to your mom about money? This is what I want to happen. If I get hit by a bus, that kind of thing.
Of course, he had insurance policies and things of that nature, but other than that, I don't think it's really anything substantial. Is your mom equipped? Like, does she understand money? I don't want to say that she invest anything that she might have a little box of in her bedroom or anything like that, but she does know. She needs to hold on to something. OK, got it. That's interesting. All right. So your dad was a breadwinner. Mom stayed at home.
Yes. Okay. Gotcha. And when you were a kid, what phrases do you remember the family saying about money, specifically your parents? I would probably go by experiences like if you go to the store, we can't have that because we don't have enough money for that. Times when bills were due saying no to certain things because we didn't have it, you know,
Don't get me wrong, we always had a roof over our head and all of that. But as far as anything extra, anything like that, no. Would you say you grew up middle class, lower middle class? I would say probably lower to middle. I would say somewhere in between there. Okay. You saw your dad working. Do you ever see your parents talking about money when you grew up?
When times got hard, yeah, they would talk about it, about making cuts, things like that, being more disciplined about money around this time, around Christmas, you know, it's not going to be much happening, you know. I remember those conversations, but as far as anything else, you know, like I said, like I said, my dad was a breadwinner, so the money began and it stopped with him, you know. What did your dad teach you about money?
Work hard. There's a lot of things that growing up and some of the mistakes he might have made with credit and things like that, he would try to warn me of those traps. But he always, you know, would tell me, you know, get a job, work, you know what I mean? That sounds like a good lesson. Lucky you that you got that heads up.
So that's like teaching you a work ethic, work hard, sounds like he worked hard. He did. You'd seem go off to work, come home from work, okay. What did he do, by the way? He was in construction. He was an iron worker. And then he became a pastor full-time. Wow. Yeah. That's interesting. The pay cut? Yes. Yes. That was definitely an experience. And how did that affect the family?
He worked for the city when he was working. So we're doing well, you know what I mean? We were probably was middle class at that point. And then when he went into ministry full time, it definitely was a fall off. It was. And so I had to be about 16 when that happened. So interesting you say that because it's very common that when I talk to people and they had a big change in their family socioeconomically.
It's very common for some cosmic reason. I don't know why that it happens when the kids are around 14 to 18. Something happened, yes, very common. And usually it's the dad, especially back in the day, dads were often primary breadwinners and they will get laid off or their business will go out of business. Or in your case, your dad took a big pay cut.
And at that age, 16-year-olds are very smart. They know what's going on. They don't understand the nuts and bolts of money, but they know that my family just changed. How did that affect you going forward? You're 16, 17, 18. What happens to you? I guess the kind of shape how I felt about finances and things of that nature, about having to struggle, having to fight for certain things, you know?
Because I mean, we were struggling at one point. It was four of us living for children. It was a struggle at some points. So I guess I do try to hold on to money as much as I can, try to have at least something in my bank account. And that's been kind of a struggle lately as well. But other than that, I think that just shaped me. And I think that kind of gave me to the point where I am now that I want to do something more than what I have been doing. I don't want my daughter and now our children
to be in a place like you said, at 16, and be a big drop off, and we have nothing saved. You know what I mean? These jobs are finicky, you know what I mean? The levels one day and the next day, they would lay us off. How old is your daughter? 11. It's pretty interesting.
Five years from now, how old is she going to be? Sixteen. I don't know why, but there is something magic about that age range. Looking back now as a 45 year old man, a father, when you zoom out,
What do you make of that, your journey with your family once you left the house as it relates to money? Even though it was a struggle, I survived. That's right. What else? I could have did better by listening to some lessons. Probably could be at a better place right now. That's interesting. Maybe like Lakeeshit could do better if she listened to some lessons from you. You think maybe that comes out a little bit? Yeah. Here's an unusual question.
When you look back at the journey, look at the five-year-old James, seven-year-old, 10-year-old, as it relates to money and the journey you went on, what do you feel when you see that journey? What do you feel? I don't know. At that age, I probably feel joy because I didn't know anything. How about now, as a 45-year-old looking back on that journey, what do you feel? I don't know. You talk about your feelings a lot? Not really. I get it. I get it.
You ever gone to therapy? Yes, I just started therapy recently. Oh, good. What caused you to start with Keisha? I have some PTSD with some past relationships. And she, I don't want to mess it up. So I started therapy. That's cool.
The reason I ask is men in general, we're not really taught to talk about our feelings. Probably there's some cultural elements as well. I know for me, Indian people are definitely not talking about our feelings. We're not going up there. You don't see Indian person in therapy. I'm going to tell you that right.
There's no Asians and there's no Indians in therapy. This generation, yes, but nobody. No. Right. Exactly. Is that the same? Absolutely it is. Really? Okay. Absolutely. Okay. That's, well, I got to say, I love breaking the construct. Yeah. Right. Okay. There's no Indian people in therapy. Well, guess what? I'm there. Exactly. Yeah. That's cool. Yeah. Laquisha, what do you feel as you hear James describe his upbringing? It makes sense.
I don't know if I'm supposed to feel this way, but I feel empathy for him. To me, it's more motivating for us to develop solutions and have this conversation and continue on the path that we started to get on the other side of our past. I love that.
I think sometimes when we're trying to understand our partner or anybody to be able to really hear how they grew up. And I mean, these very specific things like, oh my gosh, your dad took a major pay cut when you were 16. That's got to have been tough. And oh my gosh, these were the phrases you heard around the house. Like, whoa, that really tells me a lot. I'll tell you what I feel.
I feel inspired because James, it sounds like your dad taught you to work hard, which I love. I love a parent teaching their kids a good work ethic. I love it. I feel inspired because it sounds like there was a lot of love in the family, just from the brief description you share. And I feel sad. I feel sad that
A lot of the messages you got about money were negative and that it actually got harder. In fact, you said something that really stuck with me, which was my dad taught me to work hard. And what was the second part of that? Just goodbye. Yes. And that's a powerful lesson. Good or bad. And I think the idea that you were taught to just get by.
Probably over and over. Kind of sticks with you. The same way we heard how Lakeisha's lesson from her mom about shopping in the slot machine, that sticks with you too. So, you know, the bad news is that stuff sticks with us. The good news is lots of other people grew up similarly and we could change it if we want to. Absolutely. All right. What are you all noticing about this right now, this conversation? How are we feeling?
I kind of feel relieved because it's a lot of things that, just like my therapy sessions, there's a lot of things just talking about certain things that comes out. And so it's a lot of things I'm relieved about right now. Yeah, I love that. I like watching you kind of go back in time and think about something that happened. I can almost see it in your face. I can see you connecting with
where you came from. That's pretty cool. Laquisha, what about you? How are you feeling? I'm feeling good. Sound a little nervous. You sound like I sounded. I don't know what the roller coasters are at the California State Fair, but there's one that it's not that scary, but it is to me. And it's right when you go up and I'm like, OK, OK. And then you get to the top and I'm like, just kill me right now. I don't want to be alive anymore. That's how you sound like you just saw what's about to come.
Yeah, and that's a great synopsis of how I feel because I'm thinking to myself, you just finished talking about James and how he came up in his background and family and I'm thinking to myself, okay, I'm next. That is true. But let me remind you, you called me. We'll be right back after this short break.
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The irony of what you were saying with the slot machine that was, and you don't know it, but that was triggering for me. What? Why? Who was a gambler in your family? My mom. Really? So I just made that metaphor up, but your mom was actually a gambler.
Yeah, she was addicted to it. Yeah. Oh my gosh, this actually makes so much sense. So she would take money, she would gamble. Would she lose a lot of money? Oh, yeah. I never knew the amounts. Like she would never share that part, but yes. How did you know when she had lost money?
It would show up in different ways. So there would be times where she didn't come home. So she would stay at the casino all night long. And so we knew from her disposition when she came home, if she lost, or I wouldn't say we would know if she won. It wasn't like there was just excitement, but
we could sometimes tell how big of a loss it was. She was just like exhausted, beaten, defeated. And yeah, it was just obvious. And then what would happen when we were younger, we were just so happy that she was home after being worried about where she was all night, that it didn't matter. So what you lost, you're here. So we would just want to be around her. But I think I think the older we got, the more
It almost frustrating to that it got where it was just was kind of new to leave her alone. And not that she would be angry or lash out or anything like that. But I mean, we knew that she probably wasn't in the best of moves. And then too, it was just more so like let her rest mentally recover from.
whatever just happened, but we never knew the extent of what actually happened. How many siblings in your family? There was three of us. You're two siblings. How are they with money? Not great. Three siblings, all three not great with money. What do you think that that says?
I hate to default to that because I do think at a certain point in time and age, even if you weren't taught it as a child or in high school, we can learn things. So I don't want to default to that. I feel like in a lot of ways, that's an easy way out.
I can't ignore it either. The things we experienced, the things we saw growing up, money was disposable. We knew that it was always coming in. We didn't know from where, but it was always coming and it was always going. Where was it always coming in from? What did your mom do for a living? My mom was a single mom. It varied. I made mention to writing badge facts and
other things. So she actually went to jail for some time for financial crimes. That's another reason why I guess I was feeling those feelings because when you made mention to that age, right, 14 to 16, I was in eighth grade when that happened. And she was gone until my sophomore year. So she's gone a couple of years. What was this story in the family? Mom went to jail. Did you all say that?
Yeah, I think the story everybody told either to themselves or to each other was words for writing bad checks. I didn't know this until I was later in life. That's something that had everybody knew and kind of was like a thing even like before I was born. I didn't know. Oh, she was known for writing bad checks. Yes.
Okay, fine. So she was known for writing bad checks for like a long time, maybe decades. And then she, what she got caught. It caught up to her. Yeah. And so when that happened, I was angry with her because it was avoidable. Like you didn't have to do this. Also, I didn't know how she was funding the lifestyle that we had, but there was like designer closing, like all of those things. I didn't know how.
I'm much rather would have had my mom as opposed to anything she ever purchased, but that was just, you know, the reality of it at that time. It's tough to hear. It's got to be a hundred times tougher to have lived it. So I'm sorry you went through that. Thank you. What did she say when she came back her sophomore year? She apologized. She definitely said, I'm sorry. And how did you take that?
I accepted it. The whole time she was gone, I never wrote her go. I was adamant about that. I was angry. She wrote me lots of letters, but I refused to write her. I wanted her to feel my anger. I wanted her to feel what she did. The consequence of making that decision is the separation for me and I wanted her to feel it. Wow.
That's very mature for a eighth grader, like, extremely. And then she came back, she apologized and you accepted the apology.
I feel like I could learn a lot from you. Because if somebody does something really wrong to me, I'm not accepting their apology. I'm like, see you in L. And if you are in 10th grade, you're like, OK, I accept. I wanted to believe that it was a mistake. And she realized it was a mistake in that it was a mistake that she would not make again. Is she still with us? Yes. OK, and how is she doing financially?
She's doing okay. And to my knowledge, there has not been any instances of anything like this. But there was one time, and I have to share this because this did something to me. I feel like at a different level. When I was in college, this one bank used to send you your checks back.
after, you know, they cleared or whatever. So, freshman year, I'm on campus, I'm away. And I will never forget, I got a chat and it was in her handwriting, but it was from my account, and it was to Tiffany's. And it said on the memo line, mom's birthday gift, and it was like for 200 and something dollars.
Mind you, this is freshman year at college. So we've been through all of that before. And so I think at that moment, I just felt like I cannot trust her. Period. I can't trust her. I won't trust her. For us, when it comes to just reliability and believing in somebody and that they're going to do what's right and have your best interest at heart, I just... That's tough.
Sounds like you made the right decision for you. I respect that. What connections do you see between
the modeling that your mom provided for you with money and the way that you behave with money today. I don't value it. It's disposable. I'm not and have not been future oriented as it relates to money. My mom is in her 60s now and I don't know if she didn't has anything saved for retirement or what that looks like. What else? Definitely living in the now and just thinking about today.
You said that your mom, you finally concluded freshman year, was not trustworthy with money. Are you Laquisha trustworthy with money? I'm trustworthy with other people's stuff and things and money more so than mine. Why do you treat other people's money with more respect than your own?
I don't know. For the longest, I felt like I'm doing this thing to me, right? So like, I'm spending my money. It's only going to affect me, right? And of course, obviously, making sure and considering that my daughters always had what they needed.
I just felt like it's only affecting me. So there was nobody else to hold me accountable or that I had to answer to. I took one of my checks in and decided to blow it. I had nobody to answer. Who's going to check me? Like nobody, like nobody knows because it's mine. It's damaging. And at some moments and times I did not care. Do you know why? No, I don't.
You ever thought about it? Why do I continually get in these financial situations? Why do I make these choices? Why do I end up here? What have you concluded? Historically, I feel like I have not thought about the future because the future seems so far away and I wanted to enjoy my money now. However, I will say the older I get, like now,
Even though the future is, does still seem far away, I am terrified that it's going to be here before I know it and I'm not going to have anything to show for it. I think I always thought that I had time to figure it out. I do agree that most of us kicked the can down the road for money, for flossing, for having a healthy relationship with our parents. I agree. That's very common.
I don't think that's the crux of this. We'll get to the crux of Laquisha's relationship with money right after this quick pause to support our sponsors. I've helped thousands of people start successful businesses through my business programs, dating coaches, nutritionists, MCAT tutors, consultants,
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Welcome back. I want to get to the bottom of Laquisha's relationship with money. We can't do that without talking about a pivotal moment in her financial life. Her bankrupts. You've been bankrupt, correct? Yeah.
Once? No, I actually filed twice, but the first time it was dismissed. That's out of the ordinary. So there's got to be something besides like, oh, I thought there would be time later. What might it be? I'll give you a hint. You said something really interesting. You said there's nobody to check me. I'm just doing it on my own. If I wanted to spend all my money, I spend it. Do you think I would ever say there's nobody to check me?
No. Why? I don't think that you would ever say that because you don't need anybody to hold you accountable. Most of the time that's true. James can attest to this very early on in discussing finances. I have literally asked for accountability. I feel like I need it. Is he the right person to ask for accountability? Isn't James in a bunch of debt?
No, he's not. And then it too, I feel silly even saying that because I feel like you're a grown woman. Like why do you need somebody to hold you accountable for your own stuff? Everybody needs some accountability in some part of life. I have a trainer. They hold me accountable. They push me further than I would push myself and I paid him. I don't feel any, I don't feel shame or embarrassment about it. No problem.
you ever go to the grocery store and buy one of those salads that are pre-made? You're just like, hey, I'm gonna buy a little bit of convenience. That's okay. Okay, so I don't feel any shame about it as long as I can afford it, but accountability comes in lots of forms. I probably don't think James is the right person to hold you accountable in the majority, but I do think that the two of you working together can go pretty far. We're getting close now. You said, there's nobody holding me accountable, nobody to look over my shoulder, nobody to check me.
What is the implication there? That if I don't have somebody to do that, I am what? On my own. Yes, you are on your own, which for you is really scary, right? It is. Incredibly scary. And you are irrational and unreasonable. You have not been married before, correct? No. So you've been doing this on your own. You have, how many kids? Two. Two kids, oldest is 19.
There's something, this belief that if I don't have something external, then I am irresponsible. At one point, I even asked my daughter, I thought it would be a good learning experience for her. I basically was an open book financially with her and showed her how much I make what goes where
what debt was everything. I said, this is my budget. I need your help in making sure that we stick to this. We stick to this, right? Because it's a group effort. I've been wanting somebody and feeling like I need somebody to do this with forever.
to the point where I've even resorted it towards soliciting my daughter to help. It scared mess out of her. So she got really responsible financially, but that was very fleeing now. She's repeating some of these habits that I had. Your daughter is repeating the habits that you have, and you are repeating the habits that, who had? My mom. Yeah. Story as old as time. Yeah.
One of the reasons that I was so excited to talk to you is that I love to be able to see a couple chart their own path. This is our rich life. Of course, we have to acknowledge how we grew up. We have to honor our past. We can take the best of it. And we get to choose what is the next chapter of our life, always knowing that if we have children, as the two of you do,
We can help change the trajectory of our family legacy. But that takes some extreme agency, the ability to feel like, wow, we have control, we can change stuff, and an extreme long-term view, which I think both of you will admit you don't have.
Well, the good news is it can be done. What I hear from you, LaKisha, is a feeling that you want somebody to help you, which is totally reasonable. You've been raising kids solo, doing a lot solo for a long time. That is perfectly reasonable to me. I get it, but I also
Notice that you have not done the work yourself. Like, for example, have you read my book? Yes. I'm more than halfway through it. It's only been out for 15 years. So let me tell you why I have not gotten through it. I'm a very analytical black and white, like that, that, that, that, that person.
And so as I'm reading, right? I will stop. When you say, okay, do this in the next week, until I do that thing, I can't move on to the next chapter. I just can't. That sounds like a good answer to you in your head, because it sure didn't sound good out loud. No, no, I needed you to know that I'm waiting to do this step before I move on. All right. Do you see the pattern here? It's not about the book.
I'm sure you will finish the book at some point. What pattern are you exhibiting right now? In consistency. Yes, that's true. Not completing things. No follow through. And just I start things that I don't finish. Yeah, no follow through, which is really hard because in life, ultimately, that's what matters. Everyone can start a bunch of stuff, but fall through. And then also telling stories about justifying why.
And there's a story you're telling yourself, which you feel very self-satisfied telling the story. Oh, here's the reason. Oh, will he buy it? I don't know. And to me, all of this comes down to a theme. Can I get away with it? Can I get away with it? Does that sound familiar at all to you? That absolutely does.
and I get away with moving money here, moving money there, declaring bankruptcy, holding off on this claw or nothing, and I get away with it. Can I get away with not finishing the book? But I actually did chapter four, but then I skipped to six, but then I'm gonna do five later. When I tell Remeth, I definitely am gonna tell him that I'm a black and white person. Can I get away with it? Does this sound real? When we go to Target, I got my list. It's already, the bags are in the trunk.
Can I go in and check out and get $50 of stuff? Which, by the way, brings you back to my mom because she walked up to the counter and she tried to charge it, not knowing if the check would go through or not. Mom's saying, can I get away with it? Now, one last question for you. Have you ever seen your daughter try to get away with it?
Absolutely. What do you think of this? That's insane. You are right. I don't understand why I have not gotten here sooner. I want to fire my therapist. Fire them. I want to. What do you mean want to? What's the problem? Send an email done.
I've been wanting, and that's a whole other story. I have a new service called NAS, no as a service. And anyone who has a problem saying no, in this case, firing somebody, come to me, not a problem. I could handle that in 15 seconds. I'll do a while of eating chips and salsa. Anyway, what else do you notice about this? Can I get away with it? You see it in other parts of life? It is the sad model of my life. Can I get away with it?
Not only as it relates to my children, but even academically, right? College, high school. Can I get away with getting an A on this test, but not doing homework? My tombstone, it should read, she got away with it. Do you normally get away with it? Yes. It's interesting, right? Because your mom got away with check writing for 15 plus years. Then she went to jail.
And then she continued with the financial fraud afterwards. She kind of, aside from the two years, she kind of got away with it, right? She did, she did. And so you pick up on that, consciously or unconsciously. It's like, oh, I can like do all this stuff, get away with it. You probably pretty smart in school. So you get good grades. Does it hit you in college? Does it get harder then? No.
Okay, so you got away with that and you declared bankruptcy, got away with that. But here you are today, got debt, no savings. And frankly, you're still, quote, getting away with it. I want you to tell me it's possible. There was some calculator and I've plugged in some numbers and I sent it to James and I said, look,
It's possible if we start today, like we can have this much in 25 years, let's say by the time I'm 65, 67, like we can start today. So I want you to confirm that what I hope and dream for us and for our children is possible. You want me to confirm a calculation for you? I feel like Google can do that or calculators can do that.
You don't want somebody to check you. See, here's why I'm asking, because I often find a lot of people, they infantilize themselves. They kind of ask their partner, like, I want you to like, make sure I'm not overspending too much. And they basically put themselves in this subservient financial position. It drives me crazy, because we're all adults here. I'll not allow one person to put themselves in that role. And then guess what? Guess what role the other person has put into? The voice of reason.
Basically, the parent-child dynamic. I hate it. Is that what's happening here? Sometimes. But here's the thing I don't understand. If you did not, from a psychological standpoint, if you did not get that thing, maybe that you needed as a child, did not make sense that you would want that or desire that, or maybe even need that to a certain extent as an adult. Of course, what you are doing
might make perfect sense. That's where a good therapist can work with you and help you understand what unmet needs do I have. I'm sure there are some just from the stories you told me about your upbringing. How am I manifesting those? Right? And then how do I meet those needs that are legitimate in a more healthy way?
So the target example is such an interesting dynamic because notice the roles that you each put yourselves willingly into, but you never stop to think about what happened. You get to the store. I just love this slice of life because it's like 20 minutes, but it tells me everything. You get to the store. You've already done the pre-work of ordering ahead, which is logistically, you need some chops for that. You get there, James goes, I'm going inside for a second.
You go, let me come to, I'm gonna walk around. And he instantly takes on the role of voice of reason. Are you sure you need to?
And you take on the role of LaPisha what? I felt like a child. I looked like a child. I literally went from one section to the other, like a childhood from toys to games. Like I did that. Okay. So the kid walks around and like you said, irresponsible. Yes. As it relates to money, because we're going to look at your CSP and it probably was irresponsible financially speaking to go in there, but you go in there already knowing that you got your bags in the trunk. And then what's that phrase going?
unconsciously through your head. Can I get away with it? Can I get away with it? Can I get away with it? Considering that I'm in debt, considering that I don't have any savings, considering that I already have everything I need because it's in the trunk already, can I get away with it? So when I show these examples, I don't share that these to berate you. Not at all. I hope you can hear that in my voice. Absolutely. I'm here
Like as your detective, I'm trying to knock on doors and figure out what's going on here and start to make some connections. Again, I hope is that you hear this, you receive it and you go, oh my gosh, like I never made that connection between my mom saying, can I get away with it? Me saying, can I get away with it in different parts of life? And perhaps even my daughter saying, can I get away with it? James, same for you with your dad. You know, work hard.
but just get by. It shows up everywhere. It shows up in your CSP, which I would like to take a look at now. What was it like creating this CSP together? It was okay. It was definitely shocking to see some of those numbers on there, just to see everything just planned out that way. It really shows a lot of work to do. What else did it show you? That if we do get it together, it's possible that we could
get out of this mess that we're in. I like that, I like that. I noticed James that you're kind of future oriented. Like when I asked you, what do you notice about these numbers? You say, we could hopefully get out of it, which I think is great, very positive. But you know, it's interesting that you didn't say, wow, it made me reflect on what decisions I made to get into this situation. Yeah, that's true.
Do y'all see what I'm trying to do with you here? Like the reason we haven't looked at the numbers yet at all is we can't go forward unless we understand our past. I know I'm jacked up. I know how to make some decisions that I know I should have made. Do you know why you made those decisions? I would say add a necessity. For example, if I needed a car, then I necessarily have to go get a car with
payments that were high. I could have made a different choice as far as that is concerned. And that has been consistent throughout my adult life. Getting things that I probably know I can't afford, but I will convince myself that this is out of necessity. Do you know why you justify yourself? Because I really want it.
That's actually a pretty good answer. One thing that I think about and talk about a lot that I don't hear either of you think about or talk about a lot is my own future. I deserve to have an even better future than I'm having today. Specifically, I don't just mean words like, oh, let's have a good life. No, I mean, I'm putting money every month
towards investments because I deserve it. I deserve to live a awesome life and I'm going to. I understand my numbers. I know exactly how much it's going to turn into. I know when and I set it up so that it's going to happen. It is a guarantee.
I don't hear either of you talking like that. What's the difference? Your statement is way more optimistic than the way we have, let's speak it, you know. And I think we just get used to the way we're living. And what else? I did say I work hard, but we working hard and working true since I was 18 years old has not given me anything, you know what I mean? Do you know why? Because I have not.
committed myself to invest in the right things I need to invest in. Yeah, I don't think you prioritize your future self. You prioritize what you wanted at the time, which is okay if you can afford it. But you know, you probably didn't take the time to read about compound interest, personal finance, that kind of thing, right? Right. All right. That's paying yourself first. That's giving yourself a future that's bigger than today. LaKisha, what about you?
just going back to the question about the CSP and us filling out together. One thing James said that kind of stuck out to me from our conversation during that time was your line item that says like guilt-free spending. He said like that's there's no such thing basically as guilt-free spending. So
I didn't say it to him then, but I kind of thought to myself in my head, maybe he does feel a certain sense of guilt when spending. But what about you with Heisha? What about the fact that you have no savings investments? You're almost 40 years old. Why? Yeah, it is exactly what you said it was. I have not considered my future self at all.
I've had jobs where I had a 401k or something, and I have cash those out. I have not rolled them over into anything. And so I have set my future self-help for failure. That's correct. You've robbed them. That's the word, robbed, literally taken money from them.
Yep. So I can't make you change. You have a lifetime of attitudes and behaviors when it comes to money that would need to change. It's a very complex situation we have here. I do want to look at the numbers because they tell a lot. I'm glad you created this together. We're going to take a look at it now.
Laquisha, let's have you read off the word in bold and then each person's number next to it. I'll do the first one just as an example. Assets, James, zero, Laquisha, 21,000. Vessments, zero, zero, zero. Savings, zero, zero, zero. Debt, 25,846. Where James, Laquisha, 165,000. Total net worth for James is how much?
Negative 25,846. Uh-huh, and have a few. Negative 144,000. All right. Let's start here. So, what do you all notice about these numbers? Vastly different. Vastly different, yes.
So James, you have about $26,000 of debt. Where, what's that from? I had a repossessed car, credit cards, and some loans. I'm scared to do things. So I guess that's why I didn't accumulate a lot. Scared to do things means I'm scared to save money. I'm scared to invest. Is that what you mean? Yes, I am. I have a business degree. So I've learned a lot of things about investment and things of that nature. I guess I'm just afraid to do something about it.
I can empathize with that. And it's clear that this fear is not serving you. It's literally costing you hundreds and hundreds of thousands of dollars this fear. So I will say the good news is that I'm so glad you are tackling it with the help of a therapist and hopefully maybe some other folks. It's not a normal fear like, oh, I'm scared of a spider. I don't want to be in a room with a spider. This is causing like severe lifestyle, financial issues, probably more than that.
All right. Let's talk Laquisha. Laquisha, you have $21,000 in assets. What is that car? Okay. What kind of car? It's an SUV. What? You got an infinity SUV? Yes. Hold on. Should we just do the thing where you proceed to tell me how you need it for the kids? Go ahead. Let's just run that story. Go ahead. I'll wait.
My car was paid off. I had a Volkswagen Jada paid off since the end of last year. My daughter needed a car in college. I let her buy my Jada from me. And so I needed a car. They didn't have to be an infinity SUV. No. And how much did this infinity SUV cost you? My car now is $820 a month.
Okay. And, uh, how many months? 60 months. Okay. How much you pay for gas every month? $300. I work from home. There's not a lot of driving. All right. Fine. Let's continue moving. So, um, we're going to get to first, let's go over the numbers. Then we're going to talk about what it means. Okay. What do you see Laquisha already in your decision to buy an infinity? By the way, what's the total price of this infinity? It was like 32, 33,000. It's a used one. Yes.
Okay, I mean, could be worse. Don't take this as me complimenting you for getting an infinity SUV, but we can talk about it. No savings and no investments. How come? I don't have a good reason. I don't know. It's heartbreaking. I tell you that because I'll be 45 in a few weeks, you know. I wish I did ask, I just didn't have a future, James and my view. When you look at zero savings and zero investments,
Do you both feel anything about that? Do you feel good? Yes. And Laquisha? Here. If something were to happen, we have nothing. Like we would have to borrow money in order to mitigate whatever that something is. And have you ever gotten in that situation, Laquisha? Like zero savings, maybe you had, you got sick or you lost your job or anything like that? Fortunately, no, I have not. You're basically driving without a seat belt.
You know, most of the time, you're gonna be fine. The one time, you're not, and it's over. And nobody can tell you, no, I'm not a parent here to nag you, put your seatbelt on, build a savings account. I can't do it, only you can. But when I see this, I feel extreme fear. I'm not afraid of a lot. I'm afraid of teenage girls, cause they're mean. And I'm afraid of big old insects, you know, that fly, maybe roller coasters, but I'm afraid of this.
Wow, zero savings, zero investments, and at the ages of 38 and 45, $190,000 of debt. You can hear the extreme concern in my voice. We have a lot of work to do to put them on a path to their rich life. My question is,
Are they willing to? We'll find out next week in part two of my conversation with Lakeisha and James. We'll dive deeper into their conscious spending plan and see what changes they're willing to make to get them on the right path. As always, thank you for watching and thank you for listening. I will see you next week.
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