Financial expert Ramit Sethi stated, "My belief with money is we should stop asking the $3 questions and start asking the $30,000 questions." He emphasized that the latter is 10,000 times more impactful than the former.
According to the Bureau of Labor Statistics, housing is the largest expense for households, accounting for 33.4% of the average family's annual budget. Clever Real Estate reported that in 2025, roughly 73% of first-time home buyers and 65% of overall homebuyers expressed regrets, often financial, about their purchases.
Transportation is the second-largest expense, making up 17% of annual costs for typical families in 2024. Kelley Blue Book noted the average new car price reached a record $50,000 in September 2025. The Federal Reserve Bank of New York reported U.S. households had $1.66 trillion in auto loan debt outstanding as of the third quarter of 2025.
Health care premiums for family coverage were $26,993 at the end of 2025, with workers paying $6,850, according to the Kaiser Family Foundation. Northwestern Mutual estimated that in 2025, a middle-income family would spend $320,000 raising a child from birth to age 18. A Savings.com report found roughly 50% of parents provided financial assistance to adult children in 2025.
Sethi's comments come amid discussions on financial planning for 2026 and beyond. He suggested that major decisions in these areas can significantly affect long-term financial security.