Matt and Amani from Netflix’s How to Get Rich: the Account Executive’s Financial Condition Examined; Reddit Update!
Matt and Amani from Netflix’s How to Get Richlive on 1 income but spend $27,000 a month. Amani’s employment as an account executive at a software company provides the couple with their only source of income.
For the couple’s two daughters, Matt gave up his profession as a traveling electrical engineer and became a stay-at-home parent. Sure, supporting a family of four on one salary might be difficult, but Sethi’s calculations revealed that Matt and Amani really earn roughly $24,000 each month. Analyzing their financial condition, Ramit Sethi (@ramit) said it was a huge red flag for him. He said,
In this month, they contributed $24,000 to this checking account, and they spent $27,000. They spent more than they made. This is a huge red flag for me.
Due to their excessive spending, Matt and Amani had to use overdraft protection to pay for their goods. Accounts for overdraft protection generally include fees and high-interest rates. Sethi then recommends the couple a “Design Your Rich Life” journal to work on together. He says,
The first step I want them to do is to start talking about money, getting positive with it, dreaming. This is a great opportunity for them to start asking questions instead of judging each other.
