“My husband gives me an allowance. I feel like a child.”

Video Description

Ramit Sethi of I Will Teach You To Be Rich talks to Edward (38) and Ellen (30), who live in Hawaii with their young daughter and a new baby on the way. With a net worth of over $2 million, their finances look strong on paper, but behind the scenes, their marriage is strained by control, fear, and trust issues around money. Edward manages every dollar, while Ellen has to ask for “permission” to spend, even on basic everyday items. He believes tight control protects their future, making her feel more like a child than a partner. As Edward grapples with his deep fear of losing everything, Ellen wants to step into her own financial power. Can they learn to trust each other and build a partnership where both voices are heard, or will control and fear continue to drive their financial decisions? In this episode we uncover: * Why Ellen calls their financial dynamic “like asking my dad for permission” * How Edward’s fear of poverty leads to hyper-control over their money * Why Edward compares their finances to the top 1% * Ellen’s $8,000 home birth decision * How Ellen avoids learning their finances to sidestep arguments * The emotional legacy of Edward’s childhood poverty and Ellen’s early financial security * Their definition of a “traditional marriage” * Why they fight about $20 face cream despite earning $28K/month * The weight of Edward’s “provider” identity * Their Hawaii “dream home” vs. the financial pressure it created * Their shared craving for safety and control * Ellen’s realization that she’s been playing financial defense instead of building real skills * Edward’s hope to teach their daughter financial independence ⏩ CHAPTERS (00:00:00) “It feels like I’m asking for permission” (00:16:10) “I’m in charge of the budget” (00:23:09) “I had just come into a million dollars” (00:34:29) Ramit breaks down their numbers (00:51:41) “I don’t think he trusts me at all” (00:56:49) “I will never be poor again” (01:07:01) “When do we get to live like we’re wealthy?” (01:17:38) “I shrink myself to please him” (01:39:10) Where are they now? Ellen and Edward’s follow-ups 💡 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 * Listen to my book—now on Audible: https://amzn.to/48zko28 * If you want help with your finances, join my Money Coaching program at https://iwt.com/moneycoaching 🤳 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 Factor | Get 50% off plus free shipping on your first box at https://factormeals.com/ramit50OFF with code RAMIT50OFF Facet | Facet is waiving their $250 enrollment fee for new annual members, and for my audience, Facet is offering $300 into your brokerage account if you invest and maintain $5,000 within your first 90 days. Head to https://facet.com/ramit to learn more about which membership option is best for you ZocDoc | Download the ZocDoc app for FREE at https://zocdoc.com/ramit then find and book a top-rated doctor today #sponsored Leesa | Go to https://leesa.com for 20% off sitewide PLUS get an extra $50 off with promo code RAMIT, exclusive for my listeners If you make good money but you haven’t taken a real vacation in years, I want to talk to you. I'm casting couples for a special episode of the podcast. Apply this week only at https://iwt.com/apply