Financial Audit - Clueless Failure Will Die In Poverty

Episode Date: March 6, 2024

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your future matters and you chose what you did that it clearly doesn't. My name is Candace. I'm 34 years old. I'm from Temple, Texas. And this is financial audit. So what do you do for a living? I am a product photographer. That's right.

That's right. Yeah. Okay. So, I mean, I have your whole thing. We watched your episode and we're coming back for a follow up. This is this. You do not have to have seen the first episode. This is like any other financial audit.

So here we. We go. We're jumping into us. I'll get product. Now, you were making $48,000 a year last time or $4,000 a month. What are you making now? So I think now it's like just under $50K. And I bring in... Well, it was just under $50K.

Well, so you got like $1,500 more? Yeah, yeah. Okay. And so post taxes, I bring home $3,000. And then $200 of, well, $1,500. 100 of each of my checks go into SO-Fi savings, just so I can have, like, it automatically goes in the savings. So I don't even see it. It just goes in there. I don't think that was a part of our plan, though. No, it wasn't a part of the plan, but I wanted to. Then why are we deciding to

do that, especially when you've gone into more, like, debt? Well, I wanted to have an emergency fund. I needed something. Yeah, you didn't have a one-month. saved up? No. Okay, well, one month saved up. Obviously, that is a part of it. So it's been a year. Yeah. Give us the rundown because this doesn't look like things are fantastic. Um, by any means. It's, it's been a year for sure. I've definitely done a lot more and accrued a lot more, not not a lot more debt, but more debt. Why? Well, I, I, I didn't mean to. Things just happened. And I didn't have an emergency fund. So I couldn't pull from that. to fix it. You know, on average, the people who have sat on this desk and left pay off $8,500 within seven months of bad debt. Why the fuck aren't you? I'm working on it. Okay. Come on.

Why not you? Working on it's been a year. Yeah. Well, you'll get, you'll see. You'll see what I've been up to. So the hard part, just for y'all's information out there. So my team does a deep dive on the follow-up guests. Usually, you know, we all do beforehand and then, but I like to come to the follow-up blind because I want to know what's going on. But I was told that the debt situation is not great. And I was prepared for that. And now I'm okay, okay, okay.

Oh, yeah, that's right. Okay, so you're 16. It was a, if you kept your current income and your income only went up barely, it would take 16 years to pay it off. So you had to double your hours to get a side gig to make any progress. So for your solution, if you took up some more hours and snowballed your debt. So what did you do? Have you gotten another job?

Yes. Yeah, really? How much? What are we doing? I'm doing Instacart on the side. Okay. Well, I mean. No, I know.

I know. That is just a little less predictable, though. But that's okay. That's okay. What are you bringing in on average? So average per month, like I work weeknights and weekends and I bring in. Every day. Yeah.

I mean, if there's orders worth with good tips. I do it. Well, how is that? Temple. I'm sorry, I interrupted. No, it's okay. It's more popular than I thought. So, on average, it's anywhere between an extra 400 and 600 a month. A week? Oh. I wish it was a week, but. Is that the proper side job then instead of working hourly somewhere in the evenings? So I work my regular 9 to 5. And then as soon as I get off, I get online with the Instacart and I just skid orders. Like my average is. You said,

extra two to 300 or 300 to 400? What was it? Per how long? Per month? No, extra four to 600 a month. Four or 600 a month, okay. Yeah, I try to get at least... How many hours do you think you're working?

It varies. How many hours on average you're working? Four to six hundred hours a month. How many hours on average you're working? It's... I really can't say... Come on. I don't know the hours.

I just know the money. No, on average. You're going. It's a normal week. What are you doing? How many hours? It's every day. right, it's every day? It's not every day.

Okay. Eight to ten. A week. Extra. Maybe. Hours? Maybe. I don't know. It's not a lot. I just, I get good tips. Well, if it's 10 hours and you're getting 400 bucks, it's 10 bucks an hour. Yeah, no, I mean, I usually... Okay. But then depreciation on your car.

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So I don't know. How walk us just. Okay. We were care credit 181, Bank of America, 546, Best Buy 1, 195. Credit Union, 8,721, student loans, 73, 100. $77, mortgage $117,000 and you owed your family $9,000. How are we looking today? So how has your life, just give us the last year of Candace?

Ooh, I feel better. I feel like I'm in a better place, maybe not financially, but I feel like I'm more aware of the bad decisions I've made. I definitely still track everything. but... Check everything and more aware. Then why... Sorry, continue.

It's okay. I, uh... I'm not perfect and... Okay. Look, I'm not perfect. Oh, that's such a bull. That's such a cop out. That, well, that's what I got.

I mean, I can't really... I did what I did and I can't change it. What if I walked over there and I punched you and I was like, sorry guys, I'm not perfect. Uh, that's an excuse it? It's not a reason? No, I, please don't punch me. I would, I would, never punch you. I'm not a physical anger kind of person.

That's just an example of just like, you can't just, you're not out because of that. What do you mean? I'm not out. You're not just excused because of it. You can't use that as a cap out. So how are you tracking things? Every month? No, no, no. How are you tracking things?

How are you more aware of your issue? But after 365 plus days, okay. Let's jump into your financial situation. Look at it. Your hammer financial score was one out of ten last time. What do you think it is today? Two out of ten. Really?

So you've improved. You're telling me you're improved. Yeah. Some things have improved. Some things have not. You'll see. If you want to get your hammer financial score, you can get it for free in the description below. Okay.

Texel. This is the credit union. Yeah. It's compared to the last one. I have a checking and a savings there, too. The balance did go down. Not as much as it should have in a year. Not as much as a should have in a year, but I'm glad to see there's no spending on this.

No. I just paid $250 a month. Minimum being $119. Okay. Yes. Why are you putting a little extra to this one specifically? Like, what's your process that you've been trying to do? Yes, you brought it down from $8,721 to $5,916. We can celebrate that of the course of a year.

Maybe not, but a little bit. It is better. It is better. So let me absolutely just want something. better, it's better. Right. Now, why is it not more? Why? Oh, why haven't I paid more? And why are you putting a little extra to this? What's your strategy? What's your debt payoff strategy that you're trying to do? I'm just, that's just what I had calculated was a good amount and then I could afford to put towards it. What was your calculation based off of? What were you

calculating? Good amount, how? What was the math? Just, I wanted to pay more. Why? Instead of extra debt. We talked about snowballing last time. This isn't snowballing. What is this? Avalanche? No, because you'd be putting everything towards one debt. You're just putting a little extra to this. I'm confused. Why did you leave here? We had a concrete plan to get you out of debt and change your life forever, and you're like, no.

Honestly, it went a little fast last time. Yeah, but the video is there. You could have emailed. There's the Discord. I probably should have followed up. And you get the budgeting program for free. Yeah. We connect you with resources, man.

You had us at your full disposal, just like any other guest. True. And you get like the fucking like what I legitimately think is like the best online budgeting program in the world. Have you taken it? No, not yet. You get it for free and you haven't taken it and it's been, it's existed for like four months? I didn't know. What do you mean?

I didn't know I could get it for free. What do you mean? We reached out and gave it to you. You might have. I don't check my emails a lot. What are you in the private discord? Yes, but I don't know how to use Discord. Oh, good.

I'm, look, I'm 34. I don't know how that works. We're five years apart. What? I don't know what, how Discord. works? 34 is not like your 90 and a rocker. But it's fine.

It's fine if you don't know how Discord works. I'd rather hang out in the rocker. The excuse of being 34 was weird though. That's some ancient number. I don't do those type of apps and stuff. That's okay. You should consider joining it though. I'd watch a 30 second YouTube video and it's very easy.

Have you ever used Slack in your life? No. What is that? I just thought you may have in the workplace. No. I'd rather just be hanging out of my rocker. you're okay huh this is we're just going

there's just a lot okay no worries you did put 250 dollars and that is more than the minimum monthly payment so I am happy about that I really am I'm confused in your process I don't want to look through

but we're like 33 bucks a month is lost okay care credit that's that's a big one my dog had to have emergency surgery oh no yeah what happened he had a punctured salivary gland in his neck and it started to swell and it was like getting to the point where it could cut off

his breathing. Oh my gosh. So I had to bring him to Round Rock like a specialty vet to all the way in Round Rock from Temple. Yeah. Because my his normal vet couldn't take care of it so we had to do emergency surgery. Wow. So that's why that surgery got house a pup. Oh he's great now. He's a good old floof. What kind of dog? Husky. Why did I recommend getting pet insurance to you specifically I don't recall. I recommend it to a lot of people with pets that saved me thousands of dollars and it would have saved you thousands of dollars. Oh yeah, I know. Pet insurance in the future. Let's put it in your budget at the end.

Okay. Pet insurance in the future. I get it. Yeah, no. I get it. Well, let me see you then. Oh, this doesn't make any sense. This is the stupidest thing I've ever seen in my life today right now.

What's that? Your dog was sick. Yeah. You took care of your dog. Yeah. You put it on a credit card. I put it on care credit, yeah. That's okay.

You didn't have the money and you're getting on a thing and you're not going to let your dog die. Right. Then you go and pay it off as quick as possible instead of spending $600 in a single month on fast food. You pay it off. It's okay if you then grind to pay it off. $600 a month in fast food.

Do you not remember the conversation we had last time? What's happening? What's happening? What's happening? I don't really think it was that much. I do. I do. Then you don't look at it.

You track it, but you don't look at it. Pretty much. Oh, come on. It's more of just like a spreadsheet. That's the stupidest thing I've ever heard of my life again. Yeah, well. Remember, I'm spreadsheets. That's what you called me last time.

Huh? You called me spreadsheets last time because I like spreadsheets. Okay, look at them. Yeah, I should probably look at them. Build them and then look at them. $4,616. When does the interest free period of this end? Soon.

March 14th. Oh, kill me. And you put $250 towards this on a monthly basis. Yeah. Again, that's a weird thing. Like you're making, a little more than the minimum progress on all these. First of all, it doesn't even make any sense.

This is interesting. The other ones gaining like 30% interest. So why wouldn't that extra money go towards this? Like, what was the logic? Where are you in this? I don't know. Oh, come on. Explain it. Be like this is why I did it and this is and then it happened. I wish I could tell you where I came up numbers,

but they... What am I supposed to do if you don't even know how? Or why? Like, what can I like object to and teach you if you don't know why you did something? You can teach me how much to put towards each thing. I already did. You can tell me again.

How's it going to change after a year? It'll, it'll. How? Why? What's different? What's different sitting here right now than last year? My head's face, I guess. Like,

a go on. I, if I'm told like, hey, you need to specifically put this to this and this to that, I'll do it. And how is that different from last time? When you very clearly did not. I don't, I don't think I had specifics last time. So maybe this time. No, no, no.

We talked about going through the snowball method. We talked about needing to get the income to a certain point. Then we talked about going through the snowball method. Snowball method's very clear. That's the one where you do it one at a time, right? Okay. Okay. Maybe I just didn't.

No, no, if you don't know what it's on. Oh, well, that's a nice little surprise. See, I was getting all upset. Well, this has made me happy. Any chance the pup is here? No, he's not here. Oh, dang, that would have been awesome. Sorry.

It's okay. Next time. Next time. Well, next time you better, it better be paid off. Yeah, hopefully. Bank of America. This is basically, I mean, it was the smallest balance. What's the point of having a balance on?

No. No. See, all the progress you lost on the credit union are all the progress you made on the credit union is now lost. It's ruined. It's destroyed. So what the f- So I've been using my Bank of America credit card as like my everyday spending on anything. What the fuck? Why?

Because I... You're losing $68.17 in interest. So how is this possibly your spending account? That's aggressively dumb. So it wasn't, I didn't always have a interest accruing. No shit. Last time it was $400, $546. No.

$546, you were at the point. You were at the point where you could have paid this thing off and you would have had a credit card paid off. That would have been so awesome when we could have. hug the note would have been great. Instead, you come here and this shit. This shit is at $2,286 and 97 cents. That ruins me. That ruins me. 34, your ancient 34. You threw away the last year of your life. No, no. So since I was here last, I would use the card and pay it off every month. I ran, hold on, I ran into some issues in November because I had to pay. for some extra stuff like I had to get new glasses and that's why I thought issues never pop up right I know

so that's why I've been building my emergency fund that's why I'm like I'm going to pay this off so there won't be any more choice there won't be any more interest accruing but it I feel bad because it's recent go good death good death so it's only been two months good insanity what is happening. Starbucks, El Preeto, Amazon, Amazon, Nami, Buffaloed Wild Wings. Natural Gorses is an expensive way to shop. Buffalo Wild Wings, Jack in the Box. BJ's Restaurant, BJ's Restaurant, Jack in the Box. Team Fans Shop? Taco Bell, Starbucks. Green sausage. This is insanity. You're trying to pay this off. Why are you... You didn't change. your ways at all. This is so sad. No, you

didn't. What do you mean? Look at this spending. I'm only halfway through. Chaw Community, Weirdoze Cafe, Saigon Cafe, Jack in the Box, Buffalo Wild, you go to eat out of a second of your life. Takerre, if I can never say that word, Waterburger, Wendy's, team fan shop again, Susie's, grooming. Dogs got to be groomed. Yeah, that, okay, I'm a lot of that one. Starbucks,

Amazon, Jack in the box, pizza, not allowing that one, Waterburger, Cotton Patch Cafe, Rosa's Cafe, Zach Spies,

Jack in the Box. And I thought you wanted to change your life and do better. I do. If you did, your actions would show it.

I know. You're right. No, honestly. Like, I really. A whole year, I,

went through last time and showed you just how bad your finances were so that I could light a fire on your, so I could get you to understand your income to debt situation, your spending situation, so that you could fix your life, and I gave you a path to fix your life, then you come here one year later, your spending is as ridiculous as ever, your debt went down on one card and was replaced on an other card and that that was replaced on that card is all bullshit eating out stupidity. This is embarrassing.

It is. It is. Like, you don't realize how much. If it's embarrassing one of them, why the fuck? You don't realize how much you spend when you're out. Because I'm out doing deliveries and stuff. So I go out. Last time. Last time we made a budget.

Make a budget every single freaking time. You just follow the budget. It doesn't. You don't need to know how much you go out to eat because in the budget, there was no going out to eat and you go out to eat twice a day now. Still. So what's the? No?

No. How many days do you think are in a month? How many things that I just call out? Okay, once a day at a minimum? Yes. All right. If that's what it says, then that's what it says. But I don't.

And you are not. There's no tracking. There's no self-awareness. I'm sorry. I'm going to be a little rude because this is, this is so fucking sad. You just threw away a year. You know how much progress you could have made. You'd have been, if you did what we followed,

you'd have been one fourth, wait, one fourth of the way through this. And instead, we're in basically a worst position. Worst position. We are in a worse position. The fact thing that was out of your control, but you could have started paying it off. But instead, jack in the box. It's not funny.

It's not even that good. It's not good. and it's not funny. No. This is your life here, dude. This isn't a content thing. Oh, I know. This is your life that you're doing,

that you're actually throwing away. And you're a guest that came on my show. I root for you more than like anyone else in the world because you came on this show. We connect you with resources. We build out for you so we can get you connected and cheer each other on and go through education for free.

And all this. And you have access to us at any and every time. And every time we launch our products, we'll have you guys through it, go through it, for free, we are in your corner and you took this last year and you said, no, I'm going to go to Jack in the box and then I'm going to come back on and nothing's done. I'm legitimately pissed.

Usually I'm pissed about someone's situation, not their actions, but since you've been on here and chose to do this, I am upset at you. I am upset at you. I'm upset at you because your future matters and you chose through your what you did that it clearly doesn't according to you. Sorry, you're pissed at me. How we? It doesn't.

Be pissed at yourself. Be sorry for yourself. This isn't about me. This isn't even close to about me. Sure the channel name is my name. But this isn't about this or this. This is about you. Hey, okay. Sorry, I am mad. I am mad. I'm sorry. I know my emotions are showing like crazy right now, but this is this is very upsetting. Best Buy. We are at 1,9005. We're at 1064. So a little off. paid off about half. No purchases. Thank you.

Again, a little more than the minimum monthly payment. I don't know what the strategy is here. You're making very small progress in them building up two other cards. Well, that one is zero interest if it's paid off within the promotional period. When does the promotional period end? For that one, I believe it's September.

So I broke it down to where it's $120. November. November, okay. It's $120 to be paid off by that time with Okay That one I know I vibe with that

That one I know Cooksover's new No I've had it You didn't have a balance on it Yeah But that's gonna be paid off Soon

Everything's gonna be paid off Well it wasn't If it's gonna be paid off Then it should be paid off It wasn't for me What My mom needed some help And I

But you put it on debt So you weren't the person To be able to help Yeah but there was no interest and she's already paid me back. I just, it just hasn't hit. Then it would. It just hasn't hit the, it hasn't hit the statement.

That's, that's the statement. It came out before I. When does it hit? What do you mean? When does it hit? When does what hit? Her payment. Oh, it should be done now.

So you've paid off this card? Yeah, but I needed to show you because it was there. Yes, absolutely. Absolutely. Thank goodness. That's risky. I'd help my mom too, any and every day. Yeah.

But it is risky what you did, especially with the debt situation. Yeah, I told her, I was like, hey, you have until this date, and you have to pay it off before then before any interest accrues. And she did. This is a medical debt. I had it last time, but I didn't think of bring it last time, so that's probably why you didn't see it. Yep.

Well, I only see things that I see. True. That was on me. So it's 50 bucks a month. Yes. What was this for, and when? Um, honestly, I couldn't tell you. I've been on it for a while. You don't know what it was for?

Yeah, I don't know. It's probably a long time ago. I have no idea what it was for. Probably like x-rays. Okay. Round point. Mortgage. Went down by a thousand bucks, but that's, you know, mortgage. You're early into it. Yeah. And we're still at, man, so cheap. So cheap. So cheap. $938 a month. It actually went down. It's awesome. It's 909.

Wow. Student loans. What has the progress been on student loans? Nothing. It is an academic forbearance. Because I, like, I applied for the borrowers defense. And? It's still pending.

But there's no, I don't know. It says it's... Arr's defense. Yeah. Where'd you go to school? Art Institute. There's a lot of like stuff going on with them. Yeah.

That the school. It's like fraudulent. Didn't deliver. Yeah. A lot of people are. A lot of people are. Yeah. A lot of people I went to school with.

Huh? What school? Artis II to Boston. It's no longer around. Wonder why. But. When was the last time you had to make a minimum monthly payment? It saves you on a monthly basis, truly.

I haven't made a payment in like five years. But this borrower's, the academic forbearance is until 2026 or when it's not pending anymore. So that's why I've kind of left it alone. Some of these interests are bad, thank God, oh, some of these interests are bad. Delt loves you. You love debt. Cross score 740. So that's it, right?

Is there any more? I believe that's it. Do you still all your family anything? Yes. I believe that's it. Well, I mean. What do you owe your family? I know I'm on payment 22 of 36, and each payment's $375.

You ever missed one? No. Do some basic math real quick. Do some math. Where's your calculator? Figure out where you're out. So I don't know what you started with. I started with 13.5 was the original price.

5,250. is my remaining balance. $7.75 a month until like mid next year. I think May of next year. And then it's done. No interest. So it went down from $9,000 to that, so you're at least paying good.

Yes. Sue loans is the same. Mortgage is basically the same. Credit union went down a little. Best Buy went down a little. Bank of America went dramatically up. Care credit, PEC card went beyond dramatically up.

$134 in a checking account. That's scary as the mortgage. That was right before my check-hit. That doesn't matter. That's terrifying. That should not be a balance of an adult checking account. That is what it is. I know, and I'm telling you that's bad.

Yeah, I know. I mean, that's me paying off. That's me paying off everything and then- Yeah, paying off the that you decided to go out to $600. Remind. And we haven't even gone through the other stuff. Yeah. So don't just blame that on bills, stuff you're spending and doing.

How are the in-game purchases and in-app purchases these days? Very seldom. Good. Like one a month, maybe. Why? Because, I mean, that's my pastime. What are you playing? Township.

It's like a little farm. I mean, I don't go out drinking or clubbing or anything. I just... Yeah, those are the two options, drinking clubbing, and... buying in-app purchases. You know, that's just what I do. I play my games. I got it, but...

Okay. Little Caesars, Apple Bill, Tiff's Treats, shoot-proof, KFC, Arbys, this f-cunditues, this is ridiculous. Cash app. ATM, $140,

who knows what the fuck that went. Another Apple bill. A couple of in-app purchases. Door-dash. Door-dash? Uh, sorry. I always get that. Duncan Donut Basket, Robbins.

Okay. I always read D.D. as DoorDash. Okay. Sonic Drive-thru, especially since I've never been through these documents because you're a follow-up. Like, callisters, that might be gas. No, that's a sandwich shop. The ATM withdrawal is for my family payment. Oh, okay.

Yeah, because I pay them in cash. Who? Who? Who do you owe? Who? Who? You sound like an owl. I'm sorry. I owe my aunt. she's the one that loaned me the money and that's who I'm paying back and she wants to be paid back in cash

so I withdraw Porthos delivery Portos? Yes Because you zeld someone money for a porthos delivery Oh yeah because that's only in California I was like what? Okay Yeah my friend was in California

and I wanted to bring me back something Stupid $915 in savings I It's probably a little more than that now What? Give me the balance. It's either $100 or $200 more. Is it $100 to $200 more that makes a lot when it's about $1,000?

Well, it's $100 every check. Is it $1, 115? To be on the safe side? $1,015. Oh, my gosh. Potators! Your friendly neighborhood finance daddy has some exciting, limited time St. Paddy's Day crack for you.

But only if you're not acting the maggot. Okay, so my Irish accent isn't great, so I'll stop that for the rest of this spot now. We always talk about how important retirement savings are here, but remember, it's not luck, it's basic math. And if you want to get there, you need to make sure your black stuff, also known as Guinness, fits in your 50, 30, 20. But if none of these are for you, that's okay. You can still kiss me. I have an emergency fund.

Now, fuck off! Okay. I mean, it makes a big difference in your situation when we're about to go through what we're about to go through. Yeah. SoFi, killer for it. Killer. Yeah. Got that from you.

Well done. Well done. Yeah. No, no. SoFi's great. I use them for my high-yield savings and then... That's what this is. Once you start getting investing, you can start throwing some money in Moomu, which also has high yield in that before you pick what you're investing in.

So that's really cool. That's really cool. My girl using the resources from the store... From the show. I did one good thing. I mean, no, no, no. You put some towards your debt. it was just repurposed then again towards another card and you're spending so ridiculous

like this isn't a positive audit or this isn't a positive fall of this isn't like uh you've gone necessarily worse this is like we've stayed the same and that's really disappointing yeah it's like i i realize that when i was like reviewing everything and the numbers they moved but they stayed the same okay so 13,000 401k looks like yeah Is it separate? No, this is different. This is the same. It's the same.

It was just updated. Gotcha. Recently. What's it in? I have no idea. 3%. What I should look? Sure.

Okay. I don't know. I don't know anything about investing retirement. Fidelity large. Yeah, yeah, it looks like you're in probably some target retirement in front of some kind, probably. Sure. Glad it's not just sitting in like, never mind. I'm not going to give investing advice.

That would be. terrible. Okay. What the can we do? Wait. Where are my producers telling me that you want you want a new car? Because I need a new car. Oh. I needed a new car last time, but I don't I don't even have the same car anymore because it basically

died on me. So I'm in a older... What's your current car? 2007. Chevy Tahoe. Miles? 164 Condition There's a few issues But it's nothing that I can't Gosh

Could you imagine if you just followed What I fucking said last time We could like We could like maybe do something Maybe do something and get you in a car Gosh you just made it harder for yourself This is what happens for everyone out there This is what happens

When you just kick the can down the road Because just going out and to eat And getting the in-app gems And whatever and just the life we're used to, even if you cut back a little and you just sustain, a lot of the life you're used to,

you're just kicking the can down the road, eventually just comes that. You just, you get to the moment, and what are you going to do? You're going to have no choice, just like with your dog's situation, you have no choice

to go into debt, and when this car breaks down, you all have no choice but to go into debt. What are we going to do? We're going to borrow family money. Like, you know, like, yes, your credit scores good,

but your debt's, income ratio is not great. So like, what's a good debt to income ratio? I thought it was like 30%. Oh, you think yours is 30%? I thought it was about 33. I think the last time I was let's figure that out. Let's figure that out for you. Last time I look. Debt payments total 20.8% or $945. That makes me happy. Should be much higher. That does make me happy. That is progress. You know, clap of the hands and you can get it. Housing, totals, 27% or $1,227.55. Your phone is $70 or 1.5%. What are you using? It's a family plan with 18T. Okay. I just started doing helium. Check that out. You can do like 30 bucks a month.

And if that, because it's like, what's the fucking money on, you know? Well, that's a phone and watch. Damn it. Transportation total, 1.8% or $81 because it's just gas, but that's going to, Wait, what about car insurance? I don't think we had that reported. No, my family pays for that. You're 34. I know. It was just part of the car.

Like, when they gave me the car, when I graduated from college, they're like, we'll pay for... Grocery store? Necessary food? 6.3% are $287.79. Going out to eat again. 12.8% or $581.96. Disgusting. Terrible, nasty.

You could have added an indebted. additional 33% to your debt payments just with your going out to eat. An additional 33%, you would have sped it up by 33%. You know how crazy that is? Unknown shopping. That's usually Walmart. That's Amazon. It's very hard to determine what it is.

And target, $306,40 or 6.7%. Medical health care, $50.44, 1.1%. Savings contribution, $3.72. 71 cents was 7.3%. I am happy to see that as well. That is an improvement. I'm trying. Misalini is typical, what we call tequitos, as you know.

Yeah. Just definitely don't need. It's minimal, but it's an additional 1.6% that could have gone towards that for $72.84. And other large purchases were 12%, 12.9%, or $587.43. Which were the ATM withdraws of $400, the pet grooming. Ugh. Peck grooming is hard. especially with the husky end of the fern.

Oh, he's, yeah, he's, he's started to blow his coat. So we. And then you Venmoed out $90 as well. So those, it's kind of hard to account for some of that. These percentages are still quite out of whack. It's the food. It's, it's, it's, it's, that's the big thing. It's convenient because I'm always out doing orders and I'm just like, I get home late.

So I'm just like, let me just pick something up. But what if I gifted you like a tech certification from course careers and you just spent a couple months since this is a multi-year debt payoff situation yeah like what if i got you a text certification or something that is like an after hour something you can hop online and do like phone calls for or something yeah you know yeah like some tech sales or something what if i did that i would be interested because i just went with instacart because it was something i can do and i could do it when i well i know in austin you could be making much more money than you're making right now not from just instacart not just from instacart yeah but right now you're 10 dollars an hour no

yes oh for instacart for instacart for instacart oh for instagram And then that's before depreciation on the car that's barely surviving, before gas, for car insurance usually that you're not paying for anyway. Yeah. And then you've got to set money aside for taxes, which isn't going to be that much. But I just got my taxes back. I did them this year already. Okay. You claimed all the income you got from Instacart?

Yeah. Okay. I brought everything. You got a refund? Yeah. Okay. I didn't touch it because I didn't know what you wanted me to do with it. So I just.

A refund's coming. It's here. It's already here. How much? 1156. Okay. I just got it. But it's in my account.

I was like, let me leave this alone and let Caleb figure out what I should do with it. I will help you figure out what to do with it. Thank you. Help me spend my money correctly. All right. We need to like actually. If I make you a budget this time, will you actually follow it? Yes.

I just need specifics. Not like, I need like, you need to put this towards this. If you went through a project program, you'd be able to do it. I'll do this for you. Well, we'll baby a bit. Okay. Okay. Which everyone needs a little baby in here and there.

I need a little baby. All right. Well, let's not get people to click on. Yeah, no, right. Sorry. $3,000 a month plus an additional... Say $500 because it's anywhere from four to six. Okay.

$500. Debt payments total. Let's get it. Let's figure it out. That's up. Not including mortgage. One-19. Gosh, your mortgage is incredible.

People would kill for that. I know. That's why I did all the hoop jumping that I had to do to get it. You're lucky you're not paying on your student loans. Yeah. If that school is actually a scam, then yes, you deserve to get them forgiven because that's like unacceptable and gross and disgusting of that school to sell people on getting a failed product.

Right. 909 for insurance. 909 for mortgage insurance property taxes. What's your water bill? Gas bill? electricity bill. Utilities. I rounded for 60 a month.

Electric. It was high this last month, but I put 250. Just to make sure. It's not even hot. How? It's cold. You have electric heating?

Yeah. Oh, that's expensive. Yeah. I'll do 200. Okay. Yeah, electric. Okay. And internet?

55. And we're spending. on gas. I've lost it. I budgeted about 100 to 125. Okay, you did 81, but maybe it was a lower month, so let's do 110. Okay. Your phone's 70. Yes. Car insurance you don't pay for. No. Good for you. Groceries, 300. Same as before. Toil paper fund. Anything else you need to survive in life. It's $100. Okay, your ongoing medical and health care. What is that? Um, the, I had the pharmacy, $50.44. That's just for the pharmacy.

Yeah, I have like regular medicines I get every month. Good, good, good. What are that budget? I budgeted 100 just in case there's copays and stuff. Like if I have to go to the doctor, it's like 30, 40 bucks. You have a lot of medical conditions going on. You don't have to give us the deeds, but. Um, not really.

I mean, I have like the normal stuff, like checkups and stuff. I just go do that every couple, a couple of years. Okay, I might get somewhere with this. you do not have to tell us there is not a single ounce of pressure okay well your medications what are they for um asthma i've had that since i was a kid uh high blood pressure okay that one going on to eat less will very much help with that one yeah true i'm just throwing that out there it's been better let's let's budgetly help our finances absolutely but let's uh physically help ourselves.

And I'm saying that as like, chunky bar. Over the last year, I've lost about 45 pounds. Go on, get in here. That's awesome. You know how less is going to help. And then if you do the grocery budget and stuff that we have in the class,

you're actually going to lose weight with it. It's a healthy, the amount of calories you're supposed to have on a daily basis. Plus a little extra too for dessert and stuff, but if you, you know, maybe we don't do that. either way, all I'm saying is that there's double benefits. That's the point that I was trying to get across. There's double benefits to not eating out in your situation, which is great.

And then that saves you more money down the road regardless. Because, you know, clinically people are size. You know, I can speak of this as someone who is, you know, technically obese. It's expensive later in life. Yeah. That's why I'm trying to make, like, change stuff now to where I can get off of stuff. Good, good, good. And imagine the energy and a amount of money you could go make.

True? Yeah. Oh, like doing the Instacart shopping, that definitely has helped. Because I'm out. Oh, yeah, you're going. I'm not just sitting on the couch and stuff. I'm out shopping and bending and lifting and walking upstairs. When I was delivering Jimmy Johnson College, I was hot as fuck.

And now I just sit here. Okay, cool. So is that it? Am I missing anything from your budget? I have like monthly subscriptions. Nope. Well, what are they? What are they?

They're for photography and then I have Spotify. What do you mean? How much do you make from photography? It depends. It depends on if I have an extra gig. What is it? An Adobe subscription? Yeah, I have Adobe and shootproof.

What's that second one? Shootproof. It's a way to like. Should she have that? It's a way to do. Does she need that? Shootproof? What does it do?

It's a way for me to deliver files to the clients. Oh, come on. How much is it about? $10. Yeah. I used to do Dropbox, but I like this. What about Google Drive? They can pay through it.

I'm sorry, how much is your least expensive shoot? The least expensive shoot. How much does that cost? Your clients. Like 200 bucks, maybe? That's not worth your time. That's 120th. That's way too expensive for a shoot.

Way too expensive for a shoot. Professional photographer right there. It's a 120th is immediately taken just for transferring. I'm a professional photographer. too. No, I know, but like, he has like a whole career going on. You don't. I'm sorry. That's not insulting. Well, it's insulting. Sure, but you don't. I work for a company. No, no, no, photography career. Yeah, I do that on the side. Oh, you do. Oh, gosh. Oh, my gosh. Okay. Well, I was just, I listen, listen, it's Friday. It's late. I'm tired. And I feel like it

you're right. You do photography for a living at the top. I meant what the extra stuff that you're doing on the side. Yeah, like, $200. And real estate. Okay, whatever. How much for your subscriptions? I don't even care. I'm not going to push back. 35. Anything else. Pets. How much?

135. Yeah, you have to, just like last time, you have to make that extra money because you just break even. Yeah. It's essentially $3,000 a month to survive. I mean, it's 2,976, but I mean, it's probably not 100%. This is like your loose budget. You go through the program and you get your solidified budget. Yeah.

An extra $24 and you're at your cap. So I'd be looking into a different post-war. options. Okay. Like, I would not love to see you do it, but for the sake of getting out of debt, I would love to see you go work an extra 15, 20 hours a week. Okay. Somewhere I have to work.

That sucks. It sucks. But look where you are now. And look how no progress basically you made in the end because of a couple things that popped up, which happens in life, but also then you went and spent on fast food and a bunch of shit. But either way, on the Big of America card, right? Yeah.

Yeah. So if you do that, man, you can, you can start paying off $500, what you should set aside for taxes and say even $100. Okay, so $400, $400. How much should, sorry. Oh, go ahead. How much do you think I should make? Like, what should my goal per week be extra income?

So I know. I don't know Temple as much, but I would love to see you bring in an extra $750 bucks a month. 15 hours a week at like 12 bucks an hour. Okay. An extra thing. That's incredible. I mean,

then all of a sudden with that, you have essentially a guaranteed $1,000 a month in your pocket at the end of the... On top of what I already have? Oh, You're right. I got to take away that $500. So it's actually $250. Okay.

So just get a little bit more. Yeah. When, when like... So if I set my goal at like $200 a week for Instacart, that's just what I'll do. If you can, but remember,

depreciation on the car that's already in a bad situation. Gas. Now, you sure, you can write some of that off. Right. In order to duck. But either way. I just like that because it's flexible. Like, I can work. I get that, but I also like you get in out of debt, so I don't really give it. I'm sorry.

As long as there's money coming in. Yeah, but again, the depreciation, what happens when that car breaks? Then you don't have that extra job. I mean, that's what happened with my last car. And then your family gave you a car from the sounds of it? Yeah. Okay, what happens this time? I have to buy another car.

Yeah, so we go into debt. So our situation just gets worse. I'd rather you just, as much as I hate it, make nugs throwing those bad boys out the window, you know? Oh. Like, yeah, I know I say things weird. That's just, no, that's how I've always been. I was like, you want me to deliver nugs? Okay. Y'all, this is the time to switch to my favorite high yield savings account. With so far you can get 4.6% on your money. I hate when my money is just losing value, so make sure you're keeping up with inflation at the very least. You can also get FDIC insurance on that money up to $2 million with them. Plus, they'll give you money up to $300 when you set up in account with them. There's even extra perks like being able to get paid a couple days early. So far is what I use when I'm setting money aside, and it is the banking app of the future. Sign up, link in the description below. I always want my money to be making more money, so don't lose money on yours.

Okay, so let's say of the 500 you have only 400 is coming in. And including your student loans or mortgage. Yeah, you're at like $20,000. of death, insanity, debt, which after the $400 you can put towards on a monthly basis, it takes 48 months, or four years, which is just about where we were last time. So you're doing the thing where we said where you would be last time, but that's if you follow the budget. You're not following the budget, so that's why you've stayed the same.

If you actually follow the budget, go through the program, you can be out in four years. And do you know how quick a year goes by? I'll tell you, I just saw you a year ago. You'd be a fourth of the way through this. A fourth of the way through this. That's incredible. now you have to start all over again. That's what kicking the can down the road does.

So now you're going to be 38, and you're dramatically behind in a retirement for your age. You will be dramatically behind a retirement for your age. So what you need to do, the next two months, the extra money that you get in, including the tax refund. So you're taking the tax refund right now, put in your high yield.

Then the next two months, the extra money that you get put in your high yield, then you have $3,000 saved up on the side. That, go make more money and make it just one more month. But either way, what you're trying to do is get $3,000 in there. That's a one-month emergency fund in case anything happens. It's not going to cover the car, but it's going to, if you lose a job for any reason, you know, you're good for a month.

It gives you wiggle room to go get, just go out and figure your shit out. Right. So the care credit, the promotional time ends the 14th of March. And it's like, the one that's due in March is like $3,000. So should I just let the interest hit it? I didn't want to. Is there back interest? I'm assuming.

If there is, I would try to attack that as quick as possible. So that's what I was thinking of using my tax return to like throw at. Listen, you can. It just puts you in a risk your position. Typically, I start this as get the one month emergency. fund because it helps offset your risk. You can, but it puts your risk level a little higher because it keeps you basically a thousand bucks in an emergency fund, which believe it or not, Dave Ramsey is not even close to enough money. And many people have come on the show and they did the

$1,000 in an emergency fund and then they ended up in a worse situation than they were before because it's not enough money to cover anything in this world. It's not. So, and they say, well, it's not supposed to. Then what the point is. I mean, I know what they say the point is, but even still, if it puts you in a worse position, then don't do it. One month emergency fund or the money guy rule cover your highest deductible. So you can. It just brings your risk level up.

It brings your risk level to where it is right now. And if you're comfortable right now, shouldn't be. I'm not. But that's where it is. And then the next four months or two months go make more money. Yeah, get to that $3,000 from there. And then start paying off the debt.

And I would, you know, kill the care credit as quick as possible. Yeah. I really just... You can avalanche a snowball. I think you're going to be more of a snowball person. Stop putting little bits of extra towards the debts. That's not a method that works for anyone. Because you're just going to see the feeling of no progress.

Yeah. Close your credit cards. You're not a credit card person. Stop spending your daily spending on that other credit card. It's stupid. Budget. Follow the budget. Follow the program.

Join the Discord. Learn how to use technology. It's a very simple thing. It's just a text app. It's so easy, please. Okay. Just because it's a... There's a good community there of past guests sharing each other on, asking questions.

Okay. Just please. It's there for a reason. Yeah. And you need help. You're not in this alone. And ask us questions this time. Yeah, I will.

I didn't know that I don't feel comfortable asking for help a lot. Well, please, we're here. I mean, our process is different. Now we have producers and stuff that, you know, they help better explain with the post-show processes where me, when it was just me, you know, there's a trillion things to juggle. And I probably miss some communication along the way. but take advantage dude this is a life-changing opportunity with where you are the amount of debt you have on average seven months 8,500 for people without the high incoming outliers the income outliers and without

the like selling something and paying off the debt we took on those outliers the average person who comes on the show seven months 8,500 that's basically half That's basically half. If you follow the average, you finish this in a year and a half. You finish it in two years instead of four. That would be good. Hopefully I can get a new car. If I do that and hustle.

I don't know about your new car. Drive this thing until you can't anymore. Well, yeah, I'm going to drive it until the wheels fall off. But, I mean. I harmed myself at some point in this episode. Look, I'm harmed. I'm harmed. I'm harmed from you not making any progress more than this.

How, okay. you have any questions any final thoughts no that was really it just the care credit um deadline coming up and when you think i'd be able to get a different vehicle afford a different vehicle so well when can you actually afford it uh in this current progress probably five years and that's not acceptable so you have to go make as much money as possible i'd get a job where you don't have to drive and pay off the Zet as quick as possible and then uh you can follow the money guy rule which you can get you set up with or even save up and up enough money to buy a $5,000 car in cash, catch up on your retirement and then get like a $10,000,

$15,000 car after that. Okay. That's it. Thank you. Yeah, that's it. That's all you have to do. Yeah, I know. No, I mean, like, that's it with this stuff.

For you spending a budget, I'm going to give you a three out of ten because you did make progress, but it's still ridiculously disgusting. Debt two out of ten because you have some family debt, which is never great. Mergency fund. You're a tenth of the way there, so one out of ten. retirement very behind for your age $2.10. At least you have something.

3 out of 10. Real estate, glad you have a house. Good mortgage. Rate is meh. 7 out of 10. Hammer Financial Score, 3 out of 10? Make sure to check out all the resources. Link in the description below.

They are what I use or would use in specific situations, including the best budgeting program in the history of the internet. Thanks to all of our Patreon producers for making this episode possible. If you want to participate in an episode of Financial Audit and you're able to to make it to Austin, Texas, please fill out an application on the survey linked in the description below. You can also send a link to your friends or family who you think might be good to be on the show. If you have any questions, you can email casting at calebhammer.com.