Financial Audit - 31-Year-Old Immature Woman Refuses To Take Responsibility

Episode Date: July 6, 2023

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Hi, this is Alina. I am from West Hartford, Connecticut, and I'm 31 years old, and this is financial audit. 31. And you're based in Connecticut? Okay. What do you do for a living in Connecticut? I am an infectious disease physician. Oh, very cool. So I'm sure that's been... Super, super easy, like NBD. Yeah. Yeah. Well, you're 31. How long did it take to get into that position? Lots of school. Yeah. So I actually, I grew up in Bacassan. So because of that, so here you guys have like undergrad and then you do med school. But in Pakistan, you basically just go to med school after like high school. So I did five years of medical school.

And so that kind of saved me three years. But I still did three years of residency. I graduated in 2020. And then I did fellowship. Got done in 2022. But because I'm on a visa, I was, yeah. And there were the previous government. kind of like messed with the H1 visas a little bit.

It slowed everything down. And so for three months, I was in limbo from July to September. And so I was unemployed. Finally, my visa came through when I started working as an attending in September of 22. Okay. Very cool. What do you make now? So pre-tax, I make $300 a year.

And then there's bonuses on top. Highest income we've had on the show, I think bonuses on top? Yeah. What are the bonuses for? So there's two things that you can get a bonus for. There's a caudy metrics or there's RVU based metrics, which is RVU, it just stands for, it's basically a value unit. And essentially, if you see a certain number of patients above their cutoff, then you make a certain amount of, like, each RVU has a value. And so it's like this, like, really complicated math thing that you will make money off of.

But that... What would you calculate your bonus at? So I, because I just started, I was only there for three months. I did get the Claudia bonus, which was, I think, for anybody who was there for the entire year, it was going to be $15,000, but I was only there for four months. Oh, but it's normally going to be about $15,000 a year. Yeah. Yeah. I mean, obviously, then tax is 25% of that, and that hurts.

But I got a third of $15,000, so I got $5,000, and then 25% got taken out. And then our view metric, we are a very small hospital, so we didn't really, we didn't see a lot of volume this year. But there is an option of pretty much you expect like five to ten maybe to come up. So maybe 1520 above that. And when is your visa expirer? Oh, no. Now I'm, now I'm good. Now I'm, no.

Yeah. So it was a different kind of visa before. It was like a, it was a non. it was more like a training education WISA and now it's more like now it's like a work WISA now it's an H1 and so it's So as long as the company keeps endorsing it?

Okay, but if you ever wanted to leave the company? I could go to, if I finish three years I can go anywhere. Three years, that's all? Yeah, and then I can actually because of what country I'm from, I'm from Pakistan I can actually get my green card within three to four years so that would just eliminate the whole visa issue so.

Okay, very cool. Yeah. Well, so, I mean, I know a lot of people out there thinking, why am I not subscribed and they should just subscribe? But I also know that a lot of people are like, she's making $300,000 a year. She has crazy bonuses. She's doing very well. But you have a mess, like crazy. Why?

Well, I guess you've only been in the position for not that long. So it's like, okay. Yeah. So now it's time to start cleaning it up? Yeah. Pretty much, yes. So a few things happened. A, me being an idiot, like there's no other way to describe it.

Classic? Yes, I'm an idiot. But, so one of the dumbest things that I did was when I got this job, so there was also like a sign-on bonus that was promised to me, and I thought I would get it when I signed on, but what I didn't realize, and that was $30,000, what I didn't realize was that first they were going to split it into two. The first you were going to get when you started working, so within 30 days of your start date, so not really a sign-on bonus.

And the other half you were going to get a year after you started working. So more like a retention. And I didn't read the fine print because even though I had a lawyer, but like he... Okay, so you got half, $15,000. Yeah, but... But, no, no, but when I started working, it couldn't be... So while I was waiting for my visa, I had... What was the distance between that time?

Three months. Okay. So no, no. income. And so, but when I signed my job, it was in September of 2021 because the weasar process takes forever and you have to like, so it took me a year to get my visa. I was like, oh, I'm going to be, I'm going to be a baller. I'm going to like live my best life. I should start buying attending stuff. I should start like buying shoes and clothes and just be fancy. Why? What was that mindset? Where did that come from? Because I was like, I'm going to

be a baller. It's great. Because like, I will say, so I think, um, it was, very dumb. I'm not even going to play that game. But I feel like with COVID and all of that, I think a lot of us, like I was in the first surge and took care of people in Chicago and like a lot of like really awful things happened.

And so I was in this ridiculous mindset. Like you know what? You could die in five minutes because I saw like very young people. Why do anything if we could die in five minutes? I know. But you know, so that was like my whole.

That was 2021 Alina. This is 23 Alina. We've grown up. Now we're 31 and we're mature. So a year of like ridiculous spending. And then then I realized, I wouldn't say a year. I would say six or eight months. But then I realized that this transition is also very expensive.

I had to pay for my license, my medical license. How much is that? It's like $4,000. I had to pay for a couple of other things. I had to pay for my like D.E. license. That is about a thousand. And then I had to pay for my boards, which was 2,500. And then I had to pay for another, the Massachusetts like DA situation, which is like an MCSR, which was like 600. And then I also, there are a bunch of things that I ended up having to

pay for. For all those licenses, we're talking like 5% of your income. No, but this was before. I I had to do this before any of this happened. But how long have you been working now? No, it's been six months. Why do you have debt? Because it's just, you know, because it was a lot of debt. I actually have cleared out some of my debts already, so. But, yeah, I don't know.

What's your take home on a monthly basis? So post-tax and post-retirement, it is. A 401K contribution? Yeah. It is 13-8. And then one of the reasons that I had like a lot of loans was because three months of living in Connecticut at my current place I'm living at without any income was $15,000 out of my pocket, which I did not have. So credit cards and loans and. Seems like a lot of choices though.

I know. This is just you choosing to get fucked. I didn't. The weight. Yeah, you can't control that, but you can control what you do in between it. in terms of where your money's going. Yeah, but I had to, like, pay rent. I actually lived very leanly those three months, but...

How much debt did you go into in those three months? Those three months, I would say 15,000. Fuck you, lean, that's not lean. It was my rent... It's not lean, though. My rent for a month is $3,500. It's not overly expensive, but it's not lean. My rent was $3,500.

Yeah, that's not lean. Because that's the place I was going to live in. I don't care. Live in a cheaper place. Mm-hmm. But then I would have to move again. Oh, cry. What?

So the problem was I was supposed to start working August. I'm trying to justify all this bullshit. No, I'm not, no, we're not doing that life. We're not doing the justified bull of your life. Why do I not have a checking account? No, I did. I sent it to you. No.

I did. 25%. Over your income. So technically fine. Wouldn't go baller, as you said. on your rent right now when you're trying to get out of the disgusting debt that we haven't even touched yet. Yeah. Do you want me to send you my checking out information now? Okay. All righty. Let's take a look. Yeah, this is incredible. But then, well, it's incredible the amount of money that comes in, but you start with a dollar.

Yeah. I mean, I'm also trying to aggressively pay down the... Into the mic. I'm also trying to aggressively pay down the debt. And so because there was one debt that's no longer there. It was like one loan that I like just, I paid out $1,500 and that and I closed it last month. Because there were three abstract personal loans. I'm trying to aggressively pay off debt. Venmo's out $250. Go to Starbucks.

Go to Jam City. Does this. When was my- Go to Starbucks. Has a subscription to Washington Post. I don't care. Hulu. When was my dog trainer, because I have a little dog who's anxious.

Okay. But when we're trying to get out of debt, maybe not the best time. Well, you know, the dog's anxious. I'm sure. Probably anxious from all the debt. Juggernaut. Yeah, just got to support brown journalism, you know? Yeah.

How about support you not having an endless amount of debt? Do you take this seriously at all? Yeah. Yeah, it's just, I find humor the best defense mechanism. Are you sure? Because I think you might find Starbucks to be the best defense mechanism in your life. Hey, Starbucks is, you know, I need my morning. Yeah, you need to not have debt.

And also brew coffee. I make better espresso than they do out there for much cheaper. So I actually usually get... DoorDash, Wolfgang Bakery. That's the groomers for my dog. Again, trying to get out of debt. He's a poodle. I can't like.

Good for him. He needs a, he needs a grooming. Yeah, use a $5 pair of scissors. Starbucks. Dude, is this endlessly going and Uber eats won't stop. I think, to be honest, I don't think I'll over it's that much anymore. I think maybe like once or twice a week. Not really.

It was a few times a week. But then also Uber and and Uber and and Uber and and doing a photo booth thing an Uber and Uber and Uber and Uber and Uber in. Oh, guess what? We're Uberin. That was when I was in New York for my birthday. Yeah? Otherwise, I drive.

Good, yeah, because birthdays, you know, they really care about your debt. Yeah. Starbucks, Starbucks, Pandora. Pandora, who has Pandora? I do. Well, yeah, but who has Pandora? Well, I don't know. I just, I just never got in.

to what's the one that everyone? Hotels, hotels. Clarna. Great. What's Clarnia? I don't have Clarnia in here. Oh, I finished. What do you have finance?

What did you have finance? It was a very old purchase. I think it was like shoes, like a year old or something. It's closed. I don't have any, I don't have any clarnas anymore. I still have an firm. I had a Peloton, but I sold it. Then we're now, $880.

Yeah, that was paying back a friend who load. me money when I was poor. I'm glad you pay them back. Yeah. More dog stuff. There's your Pelotan membership. Cancelled because you sold it? Mm-hmm.

Good. Yeah. I sold it last week. Amazon Vemowing out 300. We're vemowing out so much money. That's again. PayPal something for 17. The PayPal.

Jam City, Jam City. Dude, this doesn't stop. And this is just a single month. And this is like so many freaking pages. Mm-hmm. Yeah. More dog crap. And I love my dog so much.

Yet you are trying to get out of a bad situation. You're going to all these like extra luxuries that are not 100% needed. Well, his costs now have gone on because I got him in December. $1.5.00. Traynor. Anyway. Taking out $100 in the ATM. Who knows where that went?

So I was doing like the cash thing, like the cash envelope thing. just like only spend $100 a week. Good dog spot. That's a daycare, doggy daycare. Stop. Because where is he going to go when I'm working nine hours a day? Home! Where like everyone else's dogs are.

But he's going to poop everywhere then. Why? Train him. So I got him in December, last week of December. He's a puppy. Three months. My dog pooped inside twice maybe when I first got him? Well.

Train him. Google some things. Well, yes. Venmoing out. Sixth. Venmoing out. Venmoing out. Ben moving out.

Going to a spa. Yeah, that's what you need when you're trying to go out of debt. Yeah, I'm talking to this really serious right now. I've matured going into all these, doing all these things. Starbucks. Starbucks. Why will this not stop? This just keeps going.

More doggy daycare. Why will this not stop? So he no longer. Starbucks? He no longer goes to daycare though. He no longer goes to daycare. Where does he go? Now a dog.

So I said it was, it was a. month of February. As of March, he's trained enough to stay at home, but a dog walker comes in. You spent all your money. That's like half the price. You barely had anything at the end of the month. Mm-hmm. Yeah. That's, uh... Are you really doing everything possible to get out of debt because you're bull-shunding spending so much of your $13,800 that comes in on a monthly basis? Yeah, that is. I wouldn't, I would say that I'm trying to pay off the debt, but I'm not, I'm not incurring anymore. I only like, I only spend on my checking account. I, don't like use my credit cards anymore.

Good. Have you chopped them up? Clearly not a credit card person. They're not, they're not, I don't have them. They're like sitting at home somewhere. Like, even right now I don't have them on me. Do you have a savings account? I do.

How much is in it? There's, I have two. I have an ally bank account that I just opened. But I'm worried that ally might fold as well. There's like 150 in that because I just opened it. It's FDIC insured. I know, but. I highly doubt you have more than $250,000.

in any of these banks. No, I don't. And you don't have anything to worry about. Yeah, well, true. How much you have in savings? $300? $300? Mm-hmm.

Okay. But I have retirement. And that is... Yeah, but we're not pulling from that, so it doesn't matter. I had to when I was... When I was unemployed. How much? I pulled $7,000.

So we talked about... the $15,000 you went into debt. So really, you spent $21,000 to live in three months. Yeah. That's shit. Yeah. Plus. You did not go lean.

Don't throw the word lean around here. Some people live off of $30,000 a year, lean. Yeah. Yeah. But I also had to pay for all the other things that they would, that from all my licensing and stuff. And then. Yeah, but we already talked about that.

Yeah. But a lot of my money ends up going in interest, though. Oh, a lot of your money ends up going to all the. Starbucks and doggy daycare in a rent that you shouldn't have got because it was stupid and a rent you still shouldn't have because it's 25% of your large income where the most of that should be going to pay it off this debt. Yeah, I agree. What are you doing here?

Because you're trying to justify every single thing in the world. What are you even here for? So I actually, I feel like... Talking to the mic. Okay. I feel like I need a better roadmap of what to do. Thank you. I have gotten, I actually have gotten better.

I know that's, hey, look at my credit karma. I went from like 530 to 570 in like a month. Yay. But, I know. You're getting better. It's still shit though from what we just looked at. Yes. Getting better, like, at one point is that actually a good thing?

Like, you're, the progress, I don't know where it was before this, but it's still it. It only matters if you're actually in a good place. Yeah. No, I agree. I guess it's... Could be an alcoholic, it can go from a bottle of liquor a day to a half a bottle of liquor a day. Wouldn't call that half a bottle great.

That's true. So I guess for me, the fact that I'm not incurring any more debts is big progress. That's good. And then I just didn't... So I'll be honest. I didn't really understand. So I always thought, oh yeah, if I want to pay off my credit card,

it's fine. I can keep using it, but I have to keep paying it off. But I just didn't... It didn't completely. compute that that's a stupid way to get out of debt. And so a lot of my, like, my chase card, like, my interest is, like, $400, like, it's insane. And so it took me a while. So, like, really, when I was like, okay, I need to, like, get serious.

I'm 31. Then I realized I have to, like, stop using all my credit cards, which I did. And then I also realized that it doesn't matter. I started doing the math, how much I'm pulling from saving from retirement if I, if I'm losing so much, like, the math isn't mathing with all the debt. that I'm like incurring with all the interest and so I decided to like I still contribute but like less than I used to um and so I've slowed that down as well because I just didn't I guess I had no idea what's your 401k contribution percentage it used to be what is it uh right now it's

1.5% how much is matched uh so it's it's like a it's a percentage of how long you've been working there right now they're matching 25% 25% of contributions for you yeah so like whatever whatever whatever I'm contributing they'll match me 5% of my contributions if I contribute like a thousand they'll contribute 250 up into how much um up till I think 6,000 something like that they'll contribute 6,000 or up until the 6,000 or up until the 6,000 you put in I think they will contribute up to no actually my My 6,000.

My 6,000. But they will, but if you work there for like five years or so, they'll do 100% match. But I've only been there like six months. So I've added 25%. All right. So that's why I didn't stop the contribution because I'm getting free money from them. Depends what your interest rates are. Usually 401k match is like, do it because it's 100% return on your money because it's 100% match.

But if it's only a 25% match, we'll see what the interest rates are and these even are. might not even be worth it in that situation. Oh yeah, the credit card interest rates are horrible. The loans aren't that bad, but the credit cards are awful. Well, let's take a look. Yeah. So the first card, we have a balance of, and this is your prime card. I can't believe you accrue this on a fucking Amazon prime card.

$5,800, $3.35. Minimum monthly payment, $278.12, as of right now. Oh, yeah, $122.22. dollars of interest charge this month. Let's just keep adding up your interest as well. Crazy. Yeah, the interest is a lot. It's the other chase one that's super painful. Did you say you stopped purchasing on cards? When did you stop purchasing on cards? So there's some like that are on like, I have some auto deliveries, but I pay them off like right away. Like if I, if it's like 20 bucks. What are the auto deliveries? Like toothpaste and stuff.

I just get them in bulk. They're cheaper for my money. Amazon. But auto deliveries I'm seeing and Prime Video is not an auto delivery. Yeah that was

That was a subscription that I didn't see. 9. 10. 11, 12, 13. So you have 13 things on auto delivery? Yeah.

Trash bags. Tea. Ice tea. Okay. Cut that. Okay. You don't need it. I will.

I doubt you need I doubt there's 13 things that you need. I actually have cut it. Tooth paste? Yeah. Get it. Garbage bags?

Yeah. Get it. Dog food. Okay. And then poop bags. So I have cut a bunch of them though. Cut all them that you don't need and I don't even know what they are. I will cut most of them.

Yeah, the Prime Video was my brother when he was there. He like he made her account and I didn't realize and I've cut it now because I don't really do Prime Video. At a 26.7.4% interest. So again, the 401K match makes no sense at this point because it is not. Beating that. Yeah. Now we have a Chase Sapphire. This one is really awful.

Yeah, it is awful. This one hurts me. $9,675. $89 with a minimum monthly payment of $413.33. $33 on a monthly basis. Death, you're losing on a monthly basis $2.22. $7.5 in interest. And there were fees.

charge of $9.11. This month. What was that for? That was a plan fee. A what? A plan, if you make a bigger purchase, and if you, and they will like do a, they will do like a two are from DoorDash plan fees. That was, that was from December.

It's from December. No, it's not. Yeah, no, the plan. February 12th. Yeah, no, the plan fee is from recent, but the actual purchase, because I'm still paying off. Something from DoorDash? Yeah, because it was like

a big amount. Cancel it. I don't care. It's DoorDash. You don't need it. And we're looking from the last little bit cafeteria

purchase at where you work. Pack a lunch. DoorDash. Barnes & Noble. DoorDash. Dude. Dude. Some Paw Place. In Amazon.

You are not making purchases on a card where you're losing $222 on a monthly basis, right? Does this make sense? Yeah. Yep. Yep, yep.

The reason... Oh my gosh, 27.49% interest right. So again, it doesn't make sense. The only reason, usually I don't get angry at people. I get angry at the debt, but I'm a little angry at you because you're just justify, justify, justify, justify. Here's a story.

Here's ten stories. Yeah. So... No, I mean, I agree. Oh, here's another story. It's like a dumb situation. There's no story. Okay.

There's that story. So we also have PayPal credit. Yeah. This is the one that I'm focusing on with the Snowball method. It is now. So that's the method you're doing? Yeah. Small store.

I was thinking, so I wasn't sure if I should do Avalanche or Snowball because I have such high-interest debt. All right. Well, we'll assess. So. We'll assess. Yeah, but I'll assess. But based on that, I'm paying this off right now. Okay.

Minimum monthly payment $115 Yeah, because your minimum monthly payments are stacking off, aren't they? Interest charge, luckily this one's nicer than the other ones because the balance is lower of $10.18. Yeah, and I'm about,

this one's, this stym's a little old. $36 of purchases. Stop! Can I see that? It's an Uber? Oh, that was probably by an accident, because sometimes my PayPal will automatically go, but I don't really, I'd never use my PayPal credit card anymore.

In UCA, something, USA, something, US. Gas, maybe? Yeah, possibly. Because sometimes, like, it'll automatically, like, go to the credit, and then I, like, have to reach a change it back. And this one's a 28% interest. Stop making purchasers. Car, debt.

Yes, it's a lease. A lease term? Three years. What's the lease amount? 718. No, that's your monthly payment. What's the payoff? 20,000 approximately.

Jeff, payoff of a lease? Is your payoff to get out of the lease? I think so. I mean, that's, yeah, that's what I have to pay with in the next three years. What is this car, possibly? It's a Toyota Raff 4 hybrid. Is that a nice car? Not really if you do ones are.

Yeah, it's 2020. I mean, I had terrible credit when I got it, so I got it last year. I got a lease because I'm not a car person at all, and I don't know anything about cars, and I don't know anybody here. I don't know anything about cars, but I know for a Toyota, whatever, $20,000 to pay over the course of just a couple years, with a $718 minimum monthly payment on it. here. Yeah. It was, it was, like, not the best deal, but.

It was not the best deal. But I needed an SUV because I live in a snow area. You don't need an SUV. I lived... Like, I needed, like, I needed, like, an old-neux. No, no, no. I lived in, like, the fifth snowiest college in the United States. And I had a sedan the entire time. You get snow tires, you're fine. And it was two-wheel drive. And I delivered Jimmy Johns. Justification, justification, justification, justification, justification. So I lived in a very warm climate. I've never driven in snow before. You learn. It was scary.

Oh, it's very spooky, but you learn. Yeah, I actually, there was the nor'easter, I drove last week, and my car slipped twice, and I was like, that's it, I'm going to die. You're driving very safely. Mm-hmm. Okay. I might need to take a driver's class. If you're out there not being able to drive, that should not be the fault of the rest of us who were driving around you. I was driving, I mean, the car slipped, but I was careful.

You have student loans, no? Very little. basically the $3,000 amount, but they are not, you cannot access them because they're from a different country. I don't have like a statement from them. Like, and they're in my dad's name. So it's like, it's not even under your name? No, it's my dad's name. Are you paying, are you going to pay though?

So my dad paid off half of them. I'm going to pay off the rest of them, but the interest is like 2%. So 3,000 is what you're going to pay? Yeah. I just want to make sure I put it in your thing. Yeah. And the interest is 2%. Good to know.

Yeah. So it's like every now and then. then I'll throw in like $200 in that because it's not even $3,000. It's actually in Pakistani rupees. And because our currency is doing really poorly, it actually, the number actually keeps going down. So the debt that we've gone through is the debt that you have. Yeah. That is not really real debt.

It's just like, ugh. Not really real debt. Yeah. I mean, it is real debt. It's like 2%. So. And we did the upstream. Do you know the interest for the car that was locked in?

I have no idea. The lease, I really don't, would not. No. It's raining 26. Yeah, it's going to be something really awful. But then I also have the upstart loans because they are, those I have on my phone. I can get from Credit Karma because I didn't know how to pull the statements from them. I had three, but now I have two because I paid off the oldest one.

So this was the one, this was the $10,000 loan. I paid it off February 2023. Is he? You paid this off? Yeah. Just now. And then it was 10,000. And then I have this other one that is 7,000 that I'm a third paid off.

The minimum payment is like 100. So $7,000 is left on it? No, $7,000 was total. Now it's $4,700 is left on it. What's the interest? It is. It's actually, it's 7%. Okay, minimum monthly payment?

it's 130 so after i'm done with the pay what is the interest that is accrued on a monthly basis already accrued is accruing like on a monthly basis right now um 7% i mean like in terms of number yeah it's 7% it says on per month it's like 1185 oh yeah yeah that makes sense yeah so so this is actually not the worst one you're paying you're losing on a monthly basis and I don't even know the car I mean the car is probably even worse with the deal that you're in but just the other debts you have outside of your car and outside of the student which is low anyway but $367 in interest on a monthly basis you are currently losing which on your income should not be the case makes no sense there's another loan what is it it's another upstart there's another one it's another upstart yeah what's this for

So this was all of like basically the amounts that I didn't have any cash for. I also had to pay for moving. And so it was just a lot of expenses that came out of a fellow salary. I used to make $3,600 a month. And so that was rough paying for everything. You made over, you made $13,000 over $48,000 of Americans. And you were complaining that it wasn't enough. So you just wanted all this debt and dollars.

No, 3,600 when I was still in fellowship as of June. I made 3,600, a month until June 22. Okay. So now, yeah, this is the last, this is the other one. How much is left? This is a lot. This is 9,000. 19,000?

Uh-huh. Death. Yeah. Minimmon monthly payment? This is 450. Oh, yikes, yikes. Yeah, so a lot of my... Interest, right?

24. Oh! 24. 24. 24. Yes. Okay, this is it. That's it. No more? No more sneaky little hidden debt? I don't think so.

Minimum monthly payments that you have. And if you were at the incoming right before, it would just be insanity. I would be like... $2,104.9 on a monthly basis. Yeah. Crazy amount of money. And none of that's going to anything productive. It's just things you've already done. Yeah. It's the stupidity of 2021.

16% of your post tax. Yeah. Okay. Yeah, no, it hurts. It trust me. It hurts my soul when I think about it. Does it really? Because you're going to Starbucks and all this bullshit

instead of going full priority to get out of it. How much is it really hurting? Yeah, no, that's also true. I just, I try justified by saying that, okay. Yeah, I'm trying to justify everything. Yeah. That I'm saving money in the morning. The more patients I see, the more money.

You're not saving money in the morning. Make espresso at home. I'm saving time in the morning and time is money. Coffee. Curegg! Yeah. Get the cheapest $75 Kyrgyz thing that's on a Walmart shelf.

Yeah. Actually, someone gave me an espresso. So I will make nispros. I actually got a bunch of creamers and things recently because I was like, maybe I should start making more coffee at home. I haven't made it yet. It's in the fridge.

Okay. Okay. Okay. What's your utilities on a month of basis? So my electric is 200. Connecticut's super expensive. Internet is like 70. Gas is around 60.

Water is like 20. Phone bill? Oh, it's like 40. I have like a super cheap plan. But I also have to pay for my brother's phone. He's in college. 70. Yeah, my, my...

You have to. Because my parents said that I have to. Fuck your parents. I don't care. Are you not 31? Are you not an adult that exists in this world? Yo, I get like really emotional phone calls for my dad. And then I'm like, okay. Okay, so that's manipulation.

Tell them the fuck off. Yeah. They also want me to pay his rent. I told him I wouldn't pay his entire rent. I would pay a portion of it. Health insurance was taken before. Yeah. And it's like really low.

Rens insurance, car insurance. Car insurance is high because I wasn't driving for a long time. I started driving a couple years ago. It's like, I would say, $200 a month. And then... Ventures is probably like 20, right? Yeah, like $15.20. And I already paid off the policy with six months.

Oh, okay. Then we'll just do the 200. Yeah. Yeah, I'm not paying for renters right now. And the car is also paid off until April, last month of April, because I did the chunks. Last month of April? Yeah. Then I have to redo the,

then. Last week of April? Yes, sorry, last week of April. Okay. Yeah, because after, I do the six months, like,

um, chunks. Can you give you groceries? I'm going to give you groceries. I'm going to give you groceries. Okay. Of $300. Okay.

I'm going to give you total paper money as in anything else you need to just, you know, operate the household of 100. I will give you dog money of only $150. No more of this bullshit that you're constantly doing. That's food and, you know, whatever.

That's food, essentially. Food. Oh, my gas. Gas is 40 a week because I drive 20 miles, one way to work. So 40 miles a day. Okay, so I average that out to about $173 on a monthly basis. Anything else is required on a monthly basis. I think so

Not really I mean Every now and then They'll be like wet bills for the dog Because like I said I just got him And he needs to get neutered next month So that's going to be an expense coming up You couldn't

I mean I want everyone to have a dog Because I love dogs I love my dog so much Yeah You're not in a place where you can afford to get a dog Yeah Shouldn't have But it's done

Yeah And it was the first few months were expensive because he had like the worst separation anxiety. Now he's gotten a lot better. So now he's just, he just has a dog walking come in. Congratulations. Your needs in order to survive on a monthly basis,

$6,97. This includes like the minimum payments or no? Which is 50%. That is the minimum monthly payments, which is 50%. So your needs are 50% that is correct. So your needs categories max out, meaning if there is anything we're missing

or anything at all that just happens, you're blown out. There's nothing else you can do. But the good news is you have $6,800 left. In reality, not after you're spending, but in reality we have $6,800 left. Yeah. Cool, congratulations, $6,500 left.

PayPal's gone, and the first upstart is gone. and the first upstart is gone at the end of month one. Okay. Second month. Your Amazon card is gone and you start putting a little towards the Sapphire. Okay. Then we're in the third month. All goes towards the Sapphire.

It's almost paid off. We're in the fourth month. Oh, wait. Did you get my, I have an other credit card. The Master Card, the Bank of America MasterCard? You didn't send it. I did. You didn't.

Well, all your minimum monthly payment on this master card is going to be above your needs are going to be over. It's actually not that bad. What's the debt amount? It is 57, but the interest rate is lower. 57 what? 100. Okay.

Did you think 1,000? Yes. No, I'm not, I'm not that crazy yet. But the interest on it, and that is like, it's lower. It's like 17%. Minimum monthly payment? 150. Okay.

So, yeah, month number three, instead of what you did With the Sapphire, you're put it towards the master, and then master's paid off. And then with the Sapphire, you put it towards it for one and a half months. And then Sapphire is paid off. That takes us to your five and a half months in. Then we have the upstart. So I should do the snowball method. I think that's best for you.

Okay. Then in three months from there, so what do we say? We were five and a half. By the start of month nine. By the start of month 9, the upstart will be gone. The last one? Yeah, the big one. The big one.

The big one. Then at this point, I would just pay off your $3,000 to your dad, get that over with, and then put everything else for another three months towards just pay off this car lease. So buy it off early. Well, yeah, you pay it off early and then, yeah, just pay it down the $20,000. and then you have it for the next two years looks like, ish. Yeah. And you can choose to buy it out or get another car at that point in cash.

Okay. Which you can easily save up for with your income and without all these minimum monthly payments. Yeah. Your life is incredible, incredible without these minimum monthly payments. You're maxing out your 401k and yearly basis. You have no reason not to. You're maxing out your IRA on a yearly basis. You can backdoor if you want to.

It doesn't matter. Yeah, I can't do it all the IRA, but I'll have to, I figure out how to backdoor it. But I'm going to do it once I get out of debt. Max, max, max. But you have to get out of debt. It's probably going to be like a yearly process. But it only works. This only worked if you stop to Starbucks.

You stop the, you stop the endless bids at all these Amazon subscriptions that you have been continued justified throughout this conversation. And I, to be completely honest, because I'm a very forward person and it would be responsible for me not to on the side of the table. I have zero confidence in. Zero confidence. You have not shown me in any way throughout this conversation that you're going to cut back. Yeah.

Well, I have cut back because I used to be, I used to like eat out all the time. Like every single day, I don't do that anymore. And as opposed to, so the Starbucks, like, it might, because it just says $25, but like the amount has gone down because I used to like get breakfast. And now I only get a coffee because I eat at home. Okay. Well, now you're only making coffee at home and you're only eating from home. And your grocery bills max the $300. Okay.

If you follow the plan, you win. If you get your way through it, this process. process, these interest rates at 25, 30% are going to continue to balloon. And you're going to be doing this for years and years and years and you're going to be falling behind our retirement. Because what's your 401k balance sitting at now? It is 11,000 because I have to pull the 7. Okay.

So you're already well behind 31 years old. So you need to start catching up. But in order to do that, we have to do this. And you need to get a six-month emergency fund. Your six-month emergency fund is going to be pretty expensive. Yeah. You're about $7,000. Well, actually, after we get rid of the debt payments.

So you emerge. Well, do you haven't an emergency? No. Your savings right now is the $3.000. So I would add an extra month of this process, and I would quickly put $7,000 into savings. Okay. So that you can cover everything for a month in the worst, worst, worst case scenario.

Yeah. One of the reasons. One second. Let's get your emergency fund figured out. So right now it's about $7,000. But after your minimum monthly payments are taken care of $5,000, times $7 by $6, $30,000. That's your emergency fund.

That's great. Yeah. Okay. That's what you do after the debt payment. So now we're like a year and a quarter, a year and a half. Yeah. So my goal, I know that it sounds like I'm not serious, but I am. My goal was to get out of debt this year, 2023, and by the end of 2024, save enough

to get a down, put a down payment on a house. That's a great goal. Lots of people have goals. You have to take the action necessary to do it. Yeah. I love hearing about goals. I need to see action. I need to see you actually doing this.

And I want you to do it while. I want you to be a success story. There's just been something. Maybe the audience can tell me, but there's just been something about this conversation. Yeah. Or I just cannot gain the hope that I wish I had. But not the hope, the faith. But the hope is there.

Yeah. Please do well. Please do well. I mean, I want to because it hurts my soul knowing that, like, interest is just like, it's all my money evaporating. But if it's actually hurting you, your checking account would reflect that. And right now it doesn't. Yeah. Yeah, I know.

I just, I guess like the one part of me is like, oh, you know, like I have this high income. So it is really a big deal if I get coffee because other people in my situation are living much larger. Like they're buying Chanel bags and stuff and I don't do that. Yeah, we don't compare ourselves to what people, what stupid people are doing. I know. So that, I think that's like a big, you know, just looking at people who are in my situation. And I'm like still trying to get out of debt because. I have to support like my brother because my parents make me

and I wasn't supported as much so Well have the conversation with them tell them how dire situation To show them this video and show what you're doing Your plan is to get out of this And then say you can support the crap out of him Once you are in a better foot But right now you can barely stand Yeah

Yeah And also if they're manipulating you into They can go for themselves honestly Yeah it's it's, they're retired, there's not much they can do. But I mean,

they own their house. What pisses me off about them is they own their house, they own their cars, uh, they actually own a plot of land that they got for my brother's education. And they're like,

oh, we're not getting a good price on it, so we're not going to sell it. And they expect me to pay for him until they sell it. And it's a little annoying. Because like, that land is like,

like, oh, we, we're getting like, this many thousand under what we're asking. I'm like, but, you know,

you don't really need it. You don't need that. Like, this was supposed to be for him. Just don't let them manipulate you. Just don't let them manipulate you. Yeah. I mean, honestly, like, the phone calls, like, I just got two days ago, like, messages from my dad. Like, please, please, please, please, please pay his rent.

I just paid for his ticket. And it's... What's your brother doing right now? He is in college first year. Undergrad? Yeah. Okay. Studying.

Computer signs. Where? In Saskatchewan. Does he have a job? No, I told him. He needs to go get a job. You're not helping until he gets a job. You can support if he's working and he's trying to do as much as he can.

If he's not, then no, no support. Yeah, I told them that he has to, because some of the win-mos are also for him. I told them that it had to, and they were like, no, he's like, he's not like you. He needs more time to study. Because I used to, like, work while I was. Well, I've said it a few times and I'll say it again, then go fuck himself. I don't care. He can help support himself.

And if he is actually putting in the work, then you can support. That's fantastic or they can support. But if he's not doing the work, then there's no support. Yeah, no, I agree. I, yeah. It's like, a lot of times I'm like, yeah. And he'll learn real quick. Oh, yeah.

Yeah, he's a little spoilt. He was visiting me in December and he didn't know how to cook or anything. And I was like, honey, I'm not going to cook for. you and within a month he was cooking. I'm not good at cooking. I mean, that's, I know, but he would make my mom up at 3 a.m. to cook for him. And then I was like, I'm not doing that for you.

Yeah, he's definitely been spoiled. Yeah. I can't say you necessarily haven't been as well. Yeah. So just get your stuff together. I will, yes. Follow budget, download any budgeting app. I use rocket money.

I used to use mint. They're all good, whatever. I have mint. I have mint. Fantastic. It used to be that I, I will say, I'll tell you why I've gotten better. I used to, because I used to have a lot of anxiety about my financial situation, I would never look at my finances. Now I look once a day to know exactly where my money is going.

And that changed, I would say, two months ago. Well, listen, it's more geared towards college students, but I think it'll help in a new situation. Check out my resources. Fizz, sign up for FIS. Debit card helps build credit score. Your credit score sucks. You want to get a mortgage eventually. So that helps, but it also helps budget.

Yeah. So this will help you spend on certain categories in a correct way. So use FIS, it's good. That's why I partner with them because it's perfect for the most people on this show. Is it a secure card? It's a debit card. Okay. Yeah.

Any final thoughts? I know I probably sound really entitled and spoiled. I'm not. I just, this is just how I cope. But I do have my goal. And it's been a rough few years for us doctors. Have mercy, especially infectious disease doctors. But it's been a goal of mine to get out of debt.

And I have. There was another debt that is not here because that I got out of in January. It was another like person loan that I paid off. And then I owed somebody else money that I paid off too. So I've been like paying off my debts like almost every month. But the problem is now. And I was trying to pay off people before I paid the cards because relationships can get messed up. Yes.

So I paid off those first. Since it has been an overall negative conversation, though I don't see what it was before, I'm happy that I'm hearing that progress has started on you spending. Not as good as it should have been, but I'm happy that there's been progress, and I'm happy that you have started to pay off some of the debts. So progress is happening, and we can celebrate that. Yeah.

Just buckle down and get it together. Yes, I will. Hammer Financial score 0 out of 10. I am in pain, pain, pain. We even checked my blood pressure afterwards because she's a doctor, and we could check it. That's on Instagram. Check it out, which you can follow.

In the description below, along with the other resources. Don't forget to subscribe. Love you. Bye.