Financial Audit - Did Not Expect This Mess

Episode Date: November 27, 2023

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I'm Garrett. I'm 37 years old based out of Minneapolis, Minnesota, and this is Financial Live. A fellow Midwestner. I'm from Michigan. Thanks for coming down. I don't miss the winners. I don't know how you're still there, but I... You get it. Yeah. So it's a love-hate relationship. What do you do for a living right now? So best description is data engineer. Oh, love it. That has to be pretty much. Pretty good pay.

Well, actually, I already know how much it makes. I'm going to, but how much do you make? So this is actually part of what we're going to get into. Yeah. But so most recently, I took a contract job, W-2 contract, not 1099. Sure. And that was 105 an hour. Mm-hmm.

Yeah. It's delicious. No, it's good pay. Yeah, it's good pay. How many hours a week? Well, it's a, you know, 40-hour work week. So, yeah. But actually next week, I'm starting a new job.

I did land a new job. Full-time salary, $250 a year. Okay. So if $2.18 wasn't lovely enough, $2.50 a year. I love that. That's incredible. Yeah. That's awesome.

So you're obviously a bad for what you do. I'm pretty good. That's awesome. I absolutely love that. So $250,000 a year, How long have you been making And let's just say six figures How long have you been making six figures?

A while, but it's it's been So So here's the thing Like when when COVID happened That was like a big shift Because I was very local You know like You know

Making a good living Right But local companies companies would pay maybe $150,000 each. Sure. Right. And then when COVID happened and everyone was like, oh, we're all remote. Then it's like the whole world was opened up to me.

And you're remote now in the new positions? Yes. I'm remote now. Yes. And so then it was like, oh, do you want to make $300,000? You know? Yeah. And.

But even then, my dude. Yes. $150,000, let's say. Yeah. You have made too much money for too long to have too many high interest, high balance debts. Yes. Especially nearing 40, my dude. Okay.

What would you rate your finance score right now, zero to ten? Maybe a three. But I have good income. I do have retirement savings. Yeah, which is good, but entering 40. you're, yeah, yeah, yeah, yeah, yeah, yeah, you're where I'd want you to be for retirement. I will say that, so that's good. But we're also sitting like $40,000 in a personal loan and 9% with a minimum monthly payment of $1,000.

So what was this personal loan for? I mean, just the miscellaneous expenses that have added up over the, you know, past few years, it's been, you know. So was where they sitting on credit cards and you consolidated them into a personal loan, like how did this person alone work when did you say okay we're going and we're taking out 40 or whatever it was at the time thousand dollars and yeah i took out i took out a i took out a 50 and a 25 okay because were there bills yeah because i like i didn't want to you know like i knew that you know high interest credit cards i don't want to pay 25 percent or some of it was

dumb decisions I made in the market unfortunately what did you do in the market oh just playing with options I'm just I'm not I'm not how much did you lose no I appreciate that but how much did you lose a lot probably like 30 grand

yeah I have an Amex personal loan, but that one I've actually, I've pounded down pretty hard. Good, good. Because it's probably not reflected in there, but I think the balance is like 9,600. I'll jump to it and we can talk about it. Okay, here's American Express then. Yeah. So you're saying this went from $11,377 to.

Because I've been paying extra on that as much as I can, which is not a. enough because I know I can pay more. You can. Right, with my income. You can. What's the balance at today? 9600. Okay.

Now the interest occurring on this is just rough on a monthly basis. Yeah. $60, $760 minimum payment. Okay. Yeah. So I assume this was taken out for a similar reason. Yeah. What is the Santander?

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or you're just looking for a way to bank, borrow, and invest all in one app, then visit SOFi.com forward slash Caleb or click the link in the description below. Yeah. What do you drive? So that car is a 21 Lexus NX-300. Hmm Someone was like I make six figures

I'm gonna drive nice So this is where we're gonna disagree Oh Because I'm a car person Okay That's my winter car Winter car Winter or winter

Okay I can't picture it Like I have a summer car It's a jag It's paid off Good I'm glad that's paid off But like We have personal loans man I'm not fucking around with the winter car.

And this is where I say in, like, this is where we're probably going to disagree because you'd be like, sell your jag. Maybe, but I mean, dude, I was driving around my shit 2000 Buick in non-winter tires for many terrible West Michigan where it's like one of the snowy's places in the United States, you know, like top five snowy's colleges in the U.S. or university, at least at one time, I don't remember. But I was just driving around. I hate crash. I was just being responsible.

But I'm not saying driver Jaguar. I'm saying in the overall situation, we're being irresponsible with our car debt. So this is where I'm saying we're going to disagree because like cars, I know you hate cars. I just don't care about that. I've watched the show enough to be, you know,

you're like, Americans love their cars, blah, blah, yeah, but I am a car person. I go to car shows. I go to, to road rallies. I've driven

my jag and charity events. You know, I've taken it on shows. Like, so it's more than just like, you know, get me point A to point B, right? Like, it's my passion. That's great. It's a hobby. It is a hobby.

I have hobbies. I don't put it over my financial future. Right. So that's, I'm not against cars. I think it's a little silly, but I think a lot of hobbies are silly. Yeah. And a lot of people would think my hobby. are silly. That's okay. That's just my personal like, who gives it. But when it actually comes to hobbies

versus our actual self interests of survival and personal finance and security, it's like hobbies do not take precedent. Sure. They don't. Yeah. Yeah. Dude, you're making great income. I say we pay off this debt, try to deal with some of the addiction stuff.

And we get like three Jaguars eventually. Yeah. Why not? Do it. If you can afford it, do it. You can't afford it. Not right now. Not right now. Right now. So does that seem like a decent middle ground? Yeah, but this is where I said, like, we're going to disagree because you're going to, I have a feeling your opinion is going to be like, sell your jag.

Well, I don't know. Because it's probably, it's old, but it's probably still worth about 30 grand, you know. And it's driving in charity events? It's only worth like 30 grand? Yeah. Well, again, this is, this is my ignorance to car culture, but why is it $30,000? car exciting. 30,000. It was cheaper than a new Jeep Cherokee. Well, it's almost 10 years old. Yeah, but isn't that one of those like hold value type? I guess not. I don't know. I mean, it was over,

like it was over a hundred new. And now it's kind of getting into the point where it's kind of or an investment. No, it's not an investment. Yeah. Yeah. So, so anyway. So anyway. ways, but my point is, like, why do we have to get a Lexus? We had to get a winter car. Why did we just get a chunky SUV with snow tires being the most important part? The problem was then the whole world shut down. Yeah.

So now, you know, after three years, I had this car that had 4,000 miles on it. Yeah. You know, and it was worth, you know, you could probably get like 40 grand for it. it at the time and my buyout was like 32 so it was it would be stupid to return the lease so i just kept it and got a loan for it and got a loan for it what's the interest rate of this loan 499 okay well at least that part is stomachable don't still don't love leverage under patient i don't love a 5% loan but surprisingly reasonable given the current environment. I don't know why they gave me a 5%.

You have good credit? What's the term you went? Five years. Don't love that. Usually I wouldn't go over three, but... Yeah, my credit's 820s. So, but still, I don't know why they would loan. 820s.

That's really good. Oh, okay. You made it sound like, I was like, oh, no, it's good. No, I have good credit. I mean, I'm not going to. I know what I have and I know what I don't have. Yeah, yeah, yeah.

So, but for whatever reason, they're like, yeah, we'll give you a 5% loan. So I was like, all right, I'll take it. $656 minimum minimum payment. That's what I don't like is the minimum of payment was just stacking up quite rudely. Yep. Now, we do have credit card, but it looks like we're paying it off. The only thing that's hit is, the annual fee.

Yeah. But spending $5,000 is what I really don't like. So after taxes, and I don't know the state income tax of that situation, what do you think is going to be coming home after contribution matches, after health insurance? How many discounts does USAA auto insurance offer? Too many to say here. Multi-vehicle discount. Safe driver discount.

New vehicle discount. Storage discount. How many discounts will you stack up? Tap the banner or visit usa.a.com slash auto discounts. Restrictions apply. Whatever other best. benefit after state and federal income of the $250,000. So if I, if I'm being conservative because it varies, you know, I hit the Social Security

max, right, and then I get more each month, right, you know, all that other stuff. Yep. Let's just call it $11,000 after tax. Okay. Well, we spent, we then went and basically spent what would be half of that on this credit card paid off, but we did spend $5,000. So let's see. Bath and Body Works.

Fire Eden. Yep. That was my girlfriend's birthday. Yeah, that was an expensive birthday. It was an expensive birthday. It was. Here comes alcohol and we're door-dashing alcohol. Amazon,

alcohol, alcohol, potential teakitos and or alcohol. Alcohol, alcohol, alcohol, alcohol, alcohol, door-dash and McDonald's. It's expensive $42, but. Some of these cheaper grocery trips, I'm thinking we're like picking up some alcohol, but I'm not 100% sure. Or not grocery. Cheaper gas stations. I don't have to see them.

I don't really like just stop at gas stations. No. Okay. I mean, I definitely see where you fill up. Oh, more alcohol that we missed there. I see where you fill up gas because it's more expensive. But either way. Yeah.

Apple bill, Amazon. Lego shop. Lego, yeah, Lego sets are expensive. I don't, I mean, if you want to talk about that, but I have a Lego problem. What? Yeah, I've spent thousands on Lego sets. I love Lego. At least that one's fun.

I know. But like if you looked at my house and you saw all these like built sets, you're like. Well, actually, I'm kind of a nerd for that, so I'd probably actually like it. Like, I don't know why I don't do Legos. I feel like I'd love that. Yeah. Amazon, again, lawn care, so it's biweekly. You could buy within just two months you could have a, you know, a lawnmower of this.

Yeah, and I do have a lawnmower, but I just pay people to come all my lawn. Again, not opposed to that. If it financially fits, we have bad personal loans, we do not do it. Amazon, Amazon, Amazon, Stock X, $186. Is that car? No, that's more Legos, actually. Oh. Stock.

I bought Lego on Stock X because that's a, it's like a reseller website, but. Door Dash to probably. That was another Lego purchase. I know that. Mortgage. Mortgage. 520. Yep.

What's the house worth? I'd say about 6.50. Okay. So, okay, equity position. Yeah, it's not, I mean, Minnesota. I love it. The rate of 2.75. I was going to say, I think you're going to like the rate.

Love it. Minnesota has not gone crazy, like a lot of, you know, places have. Well, a lot of the places that went crazy, you know, they've seen a dip. Right. Does not make up for how crazy it went, but. Right. But, like, Minnesota is just pretty reasonable, you know. Yeah.

I actually hear really good things about Minneapolis. Not going to lie. Yeah. $3,139 a month. So, I mean, these minimum monthly payments stack up plus the $5,000 we spend on the card. It's our $11,000 is quickly gone. Yeah. Actually, it's gone.

It is gone. Okay. What's your favorite Lego set you've ever done? So I built the ultimate collector, um, Millennium Falcon. Yeah. I like that one a lot. That's awesome.

I also built the Rivendell because I'm Lord of the Rings nerd. I just got chills. Like, actually just got chills. Like, I started thinking about the music and everything. Oh, man. Yeah. That's so cool. That was fun.

That's really cool. Yeah. Yeah. I have way too many Legos. If you want to send us a picture, if we end up uploading this episode, if you want to send us a picture of these builds, we'll put it in. Okay. Happy part.

$257 and this is within a rollover IRA. Yeah. That's great. Absolutely fantastic. And it looks like it's, yeah, S&P 500 basically. Pretty much. Yeah. With a little extra.

I jettling some other things, but for the most part, I just put everything in the S&P. Yeah. And just some extra individual things as well. Yeah, I play around a little bit. The majority is in the S&P, which is good. I'd be cautious of the play. around just because you have bad history with options. Yeah.

I'm good at some individual stocks. Usually I do like 15% or lower of my overall stock portfolio. Mm-hmm. And then there was, where to go? Oh, what is this? Individuals. I have about, I don't know what this is. I have about 40, 45 in just a brokerage account.

Yeah. Um. And then 20. 20 in a, in a, Oh, this is your Roth. Yeah, I have about 20 in a Roth. Do you backdoor every year?

Or how do you do this? Well, I was working for a company that they did the, they allowed the mega backdoor Roth. Yeah. But I don't have that anymore. And I miss that. The mega backdoor with Roth is great. It looks like that's, again, S&P 500, which is great.

Individual brokerage. Okay. So, I mean, in general, we have like 300 to 350 retirement. Yeah, it's about 350. Cool. Well, keep that up. You're on the right track there. Obviously, what we want to do, mortgage, I mean, that's probably a minimum monthly

until it's paid off because that interest rate just can't beat it. It's incredible. Even though it is a chunky minimum monthly payment, it's okay. The car, the interest rate, hate the minimum of the payment on an depreciating asset. MX, obviously, we want to kill it, and the other person alone, we want to kill it, destroy it, obliterate it. So mortgage. And this includes property taxes and insurance, all that good stuff, correct? Yep. Good. 3,139.45. Utilities on average. What are we looking? Let's call it 400 if we round everything.

That including Internet? No, I didn't actually think about there. Okay. How much for Internet? 500 with internet. Okay. Because electricity varies, gas varies. Electricity, more in the summer, gas more in the winter. Yeah, gas more in the winter. And then, you know.

Water trash, all the good is. Yeah, water trash. I do, my garage is heated. Oh, okay. Is that where the Legos are? No, but. Oh, no, that's what? the special cars aren't right yeah they need to be kept nice and warm they do car insurances

together so that's bad um i think right now it's probably about 300 a month and that shot up because of a DUI okay well you said you didn't drink and drive hopefully we're not doing that anymore right 2020. Okay. Yeah. We're not doing. No, no. We're not doing that now.

Okay. But that was, you know, it stays with you. Yes, absolutely. So, once that hit, it pretty much doubled my premiums, unfortunately. Okay. Phone bill? It's about 100. How much do we spend in gas on average?

vehicle gas I mean maybe like 150 I don't because I work from home I don't drive that much you know right

yeah well we saw 200 did I so we had from gas station specifically again one so we couldn't tell if we were like stopping in and getting some things

no I don't I don't buy anything from there but then it was definitely 200 but it's also like like I might get, like, I might put a tank in my Lexus and then not fill it up for like six weeks, literally. We'll do 150. We'll do 150.

Yeah. Okay. Yeah. So the bull and the drinking. Mm-hmm. All that comes out close to just about, first of all, grocery stores? Where is that? So anything that says Walmart?

I get all my groceries from Walmart. Gotcha. So that was about $453. Yeah. Okay. So that takes up a good chunk of the unknown shopping, but still liquor and everything. It's about 15 to 20% of our spending.

Oh, wait. Yeah, about 15 to 20% of our spending, which is a lot when we make so much and we spend so much. Yeah. And then like the body works in the lawn care and the Legos and True Green and the other more Legos, that's 6.3% of our spending. So, yeah, a lot of our money is going out that could be personal loans. Honestly, these just shouldn't exist at this point.

They should be gone. They should be done. There's really no reason that they don't. Let's keep building the budget. Sorry, I got distracted for, oh, we were looking for the gas. That's why. Okay. Minimum monthly debt.

That's besides the mortgage. $2,455. And $2. How do you do groceries? What is that? Is that for you and your girlfriend? Do you guys live together? No.

Okay. Then you get $300. Congratulations. That's your new food budget. Probably spend more than that. You do spend more than that. Did you say you probably will? No, I do spend more than that.

Yeah, you spent $450 at Walmart. We're doing $300. And we showed that you can get a solid $2,500 calories. and three meals, healthy meals, and snacks, even desserts on a daily basis for $250. My problem is I have a pop addiction. Oh, yes, a fellow popper. I miss popper.

Everyone's soda and coke like weirdos. Soto is a bunch of odd balls. But what do you drink? Diet Coke. I like Diet Coke, too. I get it. I mean, tasty. I drink a lot of Diet Coke.

Yeah. Yeah. Um, well, just what you can. Well, first of all, weaning can help, uh, you know, like a less can a day, one less can a day. This is strictly, of course, for the Coke talk, but, you know, just as long as we can fit in the budget, dude. I mean, that's where it goes. This is budget. You're going to have to just make sacrifices when it comes to the groceries.

Yeah. We got drinks and stuff in, in the budget. And then, you know, still have an extra 50 bucks. So, okay. To the whole paper. anything else you need to survive for the household all that good stuff does not include Legos I'm sorry it's a hundred bucks

What else do you need in your budget What else do we got to put? Other ongoing medical things Ongoing no prescriptions, co-pays I mean I have a few prescriptions They're dirt cheap like 25 bucks a month

I'm not even I'll do 25 Yeah I mean literally like I pick up my meds and are like Oh it's $5 I'm like okay You know Okay, I'm putting $300 in, and it could be more, it could be less, depends on your health insurance for therapy, co-pays.

We're starting this, we're taking control of our life for the first time. Oh, I've spent a lot on therapy over the... We're going back to it, and we're going to make it a constant thing. It's not for you, for your girlfriend as well, for everyone around you. I don't know how checking your program works for the, you know, new job and you've gone through it, but I would at least start attending group and then work with the therapist who's focused more on the addiction side of things. Work with that one. I can't help, obviously.

And you don't expect me to. But work with that. I'm putting that in the budget so you can at least go and start that part of your life because that's just as important. If not, well, it is more important than this side of it as well. Because there's no point of our dealing with our finances if we're going to, you know, drink and drive one day, get a car crash time. if our liver's going to fail in our 50s and die. You know, there's no point of the finance talk if we're just not going to exist.

And I want you to exist. So we've got to take control of that first. So I'm putting therapy in your budget. If it's more, it's fine. If it's less, it's fine. What else do you need in your budget to survive that I might be missing? I mean, when I look at like the minimum, I mean, that's pretty much it. Cats?

I do have a cat. I saw you probably saw some pretty litter and some chooly. And so call her $150 a month because she has prescription food and stuff. $7,519 is a lot needed to survive on a monthly basis. But congratulations, especially with your new job, you're going to be bringing home a lot of money. Meaning after that $11,000. And like I said, I mean, that's kind of, so like, the first half of the year

I take home less and then I hit the Social Security cap Yeah You know and I take home more And I just like Conservative Yeah Is 11,000

Which I appreciate It's more than that Okay well let's say you have an extra $3,500 a month then Yeah I was to say that Just I'm making an easy number $3,500

What do you have in a savings account Do you have a savings account? I don't have like a traditional savings I use my Fidelity accounts The brokerage? Yeah. And so like I have. Well, it's invested in.

So like I have like a layered like I keep like a few thousand in like T bills, which I is like my most liquid, right? And then like a few other things in the S&P and then a few other things and more, you know. So like that's kind of saving that money. I love when my money is making more money in the SoFi high. high yield savings account I use has 4.6% interest on that money. It's the savings account I personally use for my tax money that I set aside and other money that I just want to be building while it's just sitting there. And you can get bonuses by signing up all the way up to $250 by using

my affiliate link in the description below. And it's not just because they're my affiliate. I personally use them. They're great. I've had a great experience with them so far. And I only recommend those who I like working with and who I like using. So if you have money sitting in savings, have that money make some more money and use that high yield savings account. Link in the description below 4.6%. And bonuses all the way up to $250. Well, some people are going to disagree.

This is my organization and just, you know, lack of risk when it comes to what an emergency fund needs to be. I would just take the, I would take, what did you need? $7,519 out. I put in a high-gold savings account, so far that's a lot. that I use. That's what I would do.

And that's a one-month emergency fund. And then I would leave everything in investing, take your match, of course. What I would do from there is there's no reason why that Amex is not paid off in three months. And there's no reason why the other person alone is not paid off in 11 months. So a year in two months. And then the car, probably minimum monthly payment until it's paid off hurts. But okay. house minimum monthly payments it's paid off expensive mortgage sure low rate I'm not going to pay more on that mortgage

no there's no reason to yeah there's no risk mathematically speaking yeah so um but that's what I would do is 13 months now the reason I just skim through that pretty quickly is because you have the income take care of it you can do it it's great again none of this matters if you don't take care of the underlying issue and that is the addiction that is has been placed But when would you say that started, by the way? Like, how long have we been doing with this 37 now? I mean, I've had substance abuse problems back to being a teenager. Okay.

But then I kind of, like, got back on track and then stuff, you know, back off track. And, you know, I look at, like, so. so when we were talking about working and so this is the part that I didn't get into um in 2021 when the tech world was like booming I got this like great job and if you know how tech pays a lot of it's an equity right sure so like I got this you know great job and they're like oh here's you know, $600,000 of stock, right? You know, that you get and invests over four years. I'm like, oh, this is amazing, you know?

Well, that company just went in the absolute shit. Yeah. And that 600,000 turned into like 30,000. Yep. And so, but I, like, I spent ahead of myself, right? Mm. Like, I started spending money because, like, like, oh, yeah, this thing's going to vest in nine months or whatever it is.

Yep. And so that's a big part of why I got so far behind, you know. Yeah. And it, I mean, it wasn't even like, say, like bad stuff, but I'm like, you know, like I did like home improvements and, you know, just like, yeah, I'm going to put in a sprinkler system. And I'm going to, you know, put in, you know, I did my. garage, you know, I did an epoxy coating and all the other stuff, right? Of course.

You know, yeah, you know, 4K here, 6K there, right? But I'm like, oh, don't worry about it. That's 600K is coming. Yeah, but it didn't. That's the past. It's what has happened. That's cool. That sucks.

I get it. Yeah. Definitely teaches us about what jobs take in the future, that's for sure. But in what packages to accept. But we are. where we are today. And today you have the ability to pay off the personal loan,

the two personal loans in like a month, a year and two months. And then save up a fully funded emergency fund. We can probably do that in a year and a half total. You're a half total and you're back on track and you're already set up in a position where if you continue investing the way you are,

once you get out of the step, take the match until then, you're definitely, you're having a pretty decent retirement. Well, Are you going to live to make it to retirement is the question that I'm struggling with. So again, that's literally all this conversation comes back to you. And I'm sorry that I can't help with that part of it.

I just can't. I put therapy in there, start with them, one that focuses on the addiction thing. If it means you checking into a center, I know you've already done it, but I would rather you continue to try and give up. It means group. It means group. Whatever it takes, man. Your life matters, dude. You're too important.

You're doing important. You have parents who give a shit about you, a girlfriend who gives a shit about you. You have a lot of people who care about you. Do it for them, if not yourself. Yeah. But you should do it for yourself too, because you do matter. I mean, I actually, I got kind of a late start in life,

and then I was at a point where I was like, I feel like I was on a track to early retirement, you know. and that's kind of why I, you know, reached out because, like, that slipped away, you know. Like, I mean, I, so I've been maxing out my 401K since I was, like, 26. Beautiful. Right. My new job matches 7%. So they're going to put $17,000 in there for me, right?

You know, which is great on top of my 23. Right. You know, but I, I feel like I was like, I was putting more in my, you know, individual brokerage. I was, I had like an automatic contribution of like a thousand bucks a month, you know, for a while. And like, I'm saving up all this money. And that's why I'm like, I look at where I am. And I'm like, well, I make so much more. but why am I not saving more, you know?

Yeah. Because I pissed it away on stupid things. Sure. You know. I want you to enjoy life as well to them. That matters as long as we're meeting retirement goals. Unless you're trying to do something like fire. So that's important too.

It's important to remember that once we get out of debt and have fully funded an emergency phone. But I see where you're coming from. I don't think I'd like, I spend money. You do. I do. I know. You know, we go on vacations and I take the girls and I love taking them shopping. Yeah.

You know, that's my other problem when you look at some of those expenses. Like, I love making other people happy. Expensive birthdays, expensive. Yeah, there were some expensive things in there. So I just, I buy for other people. And you can afford that twice that. Once you get our debt, have a fully fun and emergency fun. Yeah.

So anything else you wanted to talk about? I don't think so. I mean, like I said, like, I feel like my situation is probably not that interesting. You know. This was very interesting. Well, I'm just saying, like, compared to a lot of the, a lot of the, you know, stuff I've watched, it's, you know, people are like, well, you know, I don't have anything and, you know, buried in debt. I'm like, you know, I make a lot of money.

I spend a lot of money on stupid shit. You know, and that's probably not something that resonates with a lot of people, but... I don't give a shit. You're not going to live to see it. That's all that matters to me right now. That is literally all that matters to me right now. I don't give a shit on any of this. Take care of what actually matters right now, man.

Yeah. It's as easy as that for me. there's there's a lot of other things in there that I'm not going to get into with family and yeah and take that to the therapist man it's important you might have to even start like multiple times a week if necessary especially with the addiction thing like oh the other night you know maybe I gave in or I was very close to giving it and talking about it you know to the different addictive tendencies. That might be a very important step to take,

maybe even seeing multiple times a week, man. Whatever it f***ing takes, whatever it f***ing takes, which is so much easier said than done every single time. But my goodness, man, what's the point of this? What's the point of this if we're not going to live to see it? Yeah.

So please do that. Not for me, man. For you, do it. Please keep us updated along the way. And if this episode is uploaded, by the way, if you're seeing this, you consented this in a sober state of mind. I just want to make sure you make the right decision for yourself for your life.

Do you have any final thoughts? I mean, my, you know, my perspective is just that I want people to understand that, like, you know, no amount of income or whatever, like, makes you immune from, you know, these problems, right? Yeah. I think that's the biggest takeaway is that, you know, everyone thinks that like, oh, I'm going to make a bunch of money and, but you can still, you can still be stupid about it. Yeah. You know. Hey, also, I didn't say sell the car.

You didn't. You make too much money. You can pay this off, man. Well, that's what I think. Yeah. I don't want to sell my Jake. Just actually do it then. Yeah.

Yeah. Okay. Sure enough. For Garrett, when it comes to. the spending in a budget that it's certainly not good when you have that high interest bad debt so it's going to be three out of ten debt wasn't the worst certainly wasn't good either the high interest bad debt is truly terrible three out of ten emergency fund okay it's not a real emergency fund in my definition nothing was set aside in a true emergency fund not to be touched in a low risk

account zero out of ten retirement though this is the happy thing that brings up the score definitely very, very, very good 9 out of 10 for his age. Real estate, good, low fixed rate mortgage, you know, pretty expensive, but it fits in its income situation. 6 out of 10. That is going to be a hammer financial score 4 out of 10, but obviously none of that matters as long as the addiction exists. And we want to help connect them with as many resources as we can.

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