In 2022, newly engaged couple Nate and Serena faced financial challenges as Serena, a writer, earned nearly double Nate’s income, who was a medical resident. On Ramit Sethi’s podcast, they discussed tensions arising from their income disparity, particularly around shared expenses like dining and travel. Serena expressed frustration about the lack of a repayment plan for joint costs, while Nate anticipated a significant salary boost in the future. Sethi emphasized the importance of communication about money to prevent conflicts as their financial situation changes.
Fast forward to 2024, Nate was nearing the end of his residency, expecting a salary increase to the mid-six figures post-fellowship. The couple had grown more comfortable discussing finances and planning their wedding. Despite Nate’s substantial student debt, Sethi reassured him that with a high income, managing the debt would become more feasible. They intend to prioritize paying off Nate’s $450,000 debt while also saving for retirement and enjoying life together. Sethi encouraged the couple to maintain their partnership and make time for fun as they work towards their financial goals, recognizing the importance of balance in their relationship.
