From dream income to financial frustration: The story of Sandra and Brad’s money woes

Earning a staggering £56,000 a month would seem like hitting the jackpot for most, but for one couple, it’s far from the dream life you’d imagine. Sandra and Brad, both in their forties, find themselves grappling with financial dissatisfaction despite their enviable income.

To put things into perspective, the average American’s annual earnings in 2021 barely scratched £60,000, making Sandra and Brad’s monthly haul seem like a fortune. Yet, according to them, something’s amiss, and it’s not the money coming in.

During an appearance on the “I Will Teach You to be Rich” podcast, hosted by self-made millionaire Ramit Sethi, Sandra opened up about their peculiar predicament. “On paper, we’re not broke, but it feels like we are,” she confessed. The couple, who have been together for over two decades, boast a net worth of over £1 million, yet they can’t shake off the feeling of financial insecurity.

This sense of monetary unease, according to Sethi, stems from the couple’s inability to properly manage their finances, particularly given the variability of Brad’s income. Working in the mortgage sector, Brad’s monthly take-home can swing between £48,000 and £56,000, depending on the housing market’s performance. This inconsistency, Sandra feels, undermines their financial stability.

The problem, as Sethi points out, isn’t just the fluctuating income but also the couple’s approach to money management. Brad’s inclination towards high-risk investments in leaner months does little to assuage Sandra’s financial fears. Instead, it exacerbates them, highlighting a disconnect in their financial planning and communication.

Sethi’s diagnosis? A misalignment in the couple’s financial identity and reality. He suggests that the real challenge isn’t the variable income but their failure to tackle long-term financial planning and define what financial security means to them. “They use [variable income] as an excuse not to move forward,” Sethi remarks, urging them to focus on setting concrete financial goals and improving their communication around money.

This tale of unexpected financial dissatisfaction serves as a reminder that wealth isn’t solely about the figures in one’s bank account but also about one’s ability to manage and find contentment with what they have. For Sandra and Brad, the journey towards a truly rich life may require a shift in perspective as much as it does a solid budgeting plan.