Massachusetts couple refused to get jobs and lived big while burning through $200K in crypto. Now they live with his mom

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Then things came crashing down.“Instead of being extra smart about it, we had a kid, refused to get jobs or got jobs that paid too little and quit, lived a rich life as if we were actually rich, but only with investments,” Angela wrote to Ramit Sethi ahead of an episode of his Money For Couples podcast (1). “We blew all the investments out.”Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's howDave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and 3 simple steps to fix it ASAPNow, the couple and their five-year-old daughter live with their mother in a two-bedroom house, trying to climb out of the hole they dug for themselves. They’ve both since found work, but continue to struggle with money, even without any housing costs.Here are the details of the couple’s situation, the mounting tension and what they can do to recover from it.David’s investments in crypto ended up doing very well, but unfortunately, the success got into his head.“I went through $200,000 of cryptocurrency and treated it as income instead of going out and finding a job because my head was in the clouds,” he said.He and Angela moved to Colorado in 2021, and over the course of a year, they cashed out David’s investments and spent freely.Once reality caught up with them, they moved to Colombia, Angela’s native country, and then back to the U.S. where they settled in with David’s mom in Massachusetts.Angela and David both have jobs now and earn a combined income of $118,000. At the time of the episode they had $4,242 in savings, $4,000 in assets and $761 invested, but are $34,632 in debt. However, despite having no housing costs, they struggle to meet their financial goals.As Sethi continued to probe the couple, things started to come into focus.Trending: Warren Buffett used 8 simple money rules to turn $9,800 into a stunning $150B — start using them today to get rich (and then stay rich)The more Sethi asked the couple about their spending, it became clear the couple doesn’t keep track of their finances. How can they meet their goal of, say, buying a house when they can’t even account for the amount of times they eat out each week or how much they spend on gas?Getting on a budget and evaluating their spending should be a top priority for these parents.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,741.50 -13.75 (-0.20%)Dow Futures47,122.00 -107.00 (-0.23%)Nasdaq Futures25,047.50 -46.50 (-0.19%)Russell 2000 Futures2,388.60 -7.40 (-0.31%)VIX21.06 +1.23 (+6.21%)Gold4,063.00 -31.20 (-0.76%)PortfolioSign in to access your portfolioSign inTop gainersCDTX Cidara Therapeutics, Inc. 217.71 +111.72 (+105.41%)SRRK Scholar Rock Holding Corporation 37.41 +7.34 (+24.41%)AVDL Avadel Pharmaceuticals plc 23.56 +4.32 (+22.45%)LGN Legence Corp. 40.27 +6.95 (+20.86%)CSIQ Canadian Solar Inc. 33.58 +4.96 (+17.33%)Top losersNFLX Netflix, Inc. 111.22 -1,043.01 (-90.36%)DGNX Diginex Limited 10.53 -2.97 (-22.00%)STUB StubHub Holdings, Inc. 14.87 -3.95 (-20.99%)HTFL Heartflow, Inc. 27.98 -2.96 (-9.57%)EOSE Eos Energy Enterprises, Inc. 13.80 -1.40 (-9.24%)Most activeNVDA NVIDIA Corporation 190.17 +3.31 (+1.77%)ONDS Ondas Holdings Inc. 7.18 +0.62 (+9.45%)OPEN Opendoor Technologies Inc. 8.12 -0.44 (-5.14%)TSLA Tesla, Inc. 404.35 +2.36 (+0.59%)PFE Pfizer Inc. 25.06 -0.73 (-2.83%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersNFLX Netflix, Inc. 111.22 -1,043.01 (-90.36%)GOOGL Alphabet Inc. 276.41 -2.16 (-0.78%)GOOG Alphabet Inc. 276.98 -2.14 (-0.77%)GNS Genius Group Limited 0.8629 +0.0239 (+2.85%)QUBT Quantum Computing Inc. 10.60 +0.57 (+5.68%)Top economic events