Financial Audit - Her Dad Threatened My Life | Financial Audit

Episode Date: July 19, 2024

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Terms apply. To watch episodes of Financial Audit a week earlier, check us out on YouTube. Now, whose idea was it? Who do you talk to you about this? My mom. Call the mom. Good. Pops?

My dad. Okay. Okay. Hey, dad. And then you have access to her accounts, and so that the curate and everything, who will get ripped. You know what? You're missing with the wrong person. I'll just let you know.

You got who will get posted. I just tell you. So you are the good summary times in the internet. Hi, my name is Jennifer. I'm 24 years old. I'm from Fort Worth, Texas. and this is financial audit. Thanks for coming down for Fort Worth.

What do you do for a living up there? Yeah, I work in insurance. I'm an insurance agent, roughly, like in the DFW area. Insurance agents. So everyone's favorite person I talked to in this entire world. Okay. What are we making in this position? I make about $53,000 gross annually.

Yeah. Okay, is that, are there commissions or the bonuses and is it after that? No commission. There's like no sales. sales involved in my role. I'm more of like a, like, entry level starting position. Sure. Yeah. So how we live in off 53 right now? How, how does that feel? How does life feel? When I first got, when I first got the job, I was living pretty comfortably. I, like, was able to afford rent. I was able to go out with friends and stuff. But in my situation, currently, I'm struggling.

Why do you think you're struggling? I mean, 53 is not terrible. Out of the gate. Is it a single household income? Yeah, I live alone. It's just me in an apartment. So I can definitely see things being a little tighter, but you're not horrendously far off from being near that minimum median household income. Now Detroit Fort Worth, you know,

it's not the most expensive city, but it's certainly not the cheapest. You know, you're definitely getting a little on the higher end. So I'm not saying it's like easy to live off of that, but why are things struggling right now? I'm curious. I live like in a pretty nice part of town. I want to say.

I kind of moved on up. I tried to like get out of living in like a rougher area. So I moved into the city. And my rent is like pretty, pretty high up there. It's the most I paid since I've moved out. But I just wanted to be closer to the city, closer to work, have places go hang out with friends and stuff like that. Okay.

Do you prioritize fun? Fun prioritized for you? What is it getting out of that? Um. Not, not, I mean, I like to go hang out with friends, like try new places and stuff. There's a lot to do in downtown, so. Yeah. To go check places out.

Oh, close are you to downtown? Pretty close. I can literally walk. Like, I have pretty easy access. That can be pretty expensive. Yeah. Okay. So on the income side, what we had was $3,200 come in.

Does that sound about right from payroll? Yeah, a month. Okay. What do you think was spent? Well, um, I don't know. Like, between rent, tuition, and stuff. My other spending is like...

Tuition? Yeah, I'm in school. Oh, really? Yeah. What do you study? Business management at TCCC. Business management's good. Okay.

Yeah. Very cool. Yeah. I don't know. I just kind of got into it like recently. In 2021, I went back to school because I dropped out like 18. I didn't really know what I was doing. And I got into my field and I was like, you know what?

I kind of like this. I want to pursue like this degree. So I got back into it. and I've been doing it like on this like part time because I work full time. Well, as always, just like anyone on this show, I'm happy to gift you certification through course careers if you want to boost up your post college resume as well. But what do you think you spent? Spent.

Again, payroll came in, 3200. 32, yeah. What did you spend? What went out? Well, I was. What went out? I went to the airport, dropped my folks. What went out?

Okay. Food? I was spent it on food. went out. What? How much did you spend? Like the, the number.

How much do you think you spent? We can go into details. What do you think you spent? I think I probably ended up in the negative. I had to pull, like. What do you think you spent? The number, number, number. The numbers.

Okay. What do you think I'm saying? Probably like, sorry. 3,400. Okay. And that's why I wanted to know. So you thought you thought you were $200 over. Yeah.

Yeah, roughly. I think it was probably a little bit more. Well, what then? What, what number? What number do you think you spent? I didn't really look at my account. No, no, no. What do you think you spent? Just based on you know in your life. I want to see where you self-assess. This is important. Like, I want to say 3,4, 35. Okay. Okay. So you think you're 2 to 300 over. Mm-hmm. Okay. You're 1,500 over. I am.

So how, how? How? Where are we? we in life where you think you're only a couple hundred dollars over, but in terms of what came in through payroll, a thousand five hundred over, how is it so far beyond different than where you think you are? Like what is going on? Where are you right now? I didn't know it was that much of my difference. Well, I know that because you told me three to four hundred. I really thought it was going to be like a couple hundred because yes, that's what you said. But why do you Yeah, you told me the number. I know that.

Yeah, yeah. Why do you think there's such a disparity there? Because I kind of just, just swipe the card. You're a swiper. I use, like, Apple Pay. Swiper, no swiping, dude. I don't know. I didn't know it was that bad.

I have people helping me out, you know. So sometimes I don't. People helping you out. Yeah. What? My parents sometimes will, like, sell me if I need some extra money. Do you need extra money, though? Because you were over by $1,500.

where did that extra 1,500 go in your mind? It helps with rent. Okay, what's your rent? My rent is like 1550. Okay, that's expensive. 1350? Yeah, 1550. 1550?

Because you need to live next to downtown, right? That's where my work is. It's pretty convenient. Not everyone lives next to their work. I live 15 minutes away from here. Yeah. And this is my business. I got the choose where it goes.

Like, that's how close I am. I think it's pretty, it's easier. And that's worth spending 48, over 48% of your net income on? At the time, I thought it was a good decision. I was like, I'm going to be saving money on gas. I'll be closer to like downtown to do some stuff with friends. That's fun. That's great.

That's a want. And I want you to be able to do that as well. I also don't want you to spend over 48% of your income. I understand. I don't know. Well. That's horrendous. So how much do your parents send you?

Like I said, they just kind of, whenever I asked. sell in $104. Was that done? Yeah, sometimes, like, if I need, my parents kind of look at my account just to make sure I don't go overdraft. So if my dad usually is the one like, hey, you know, you need to make sure you have enough money.

How much so? Because in your application, you were so proud that you've been living on your own since 19. It doesn't sound like you're living on your own. Sure, physically, but it doesn't sound like financially. Yeah. If you're getting money from the parents. Well, a lot of it is coming from my paycheck.

Like, I do work really hard to make sure I can, like, afford the things. Sure, but then half of it goes to rent because you want to live in a walkable community. And I think a lot of people want to live in a walkable community. But because so many people want to live in a walkable community, and there's so few of them in the United States, because we've really built our infrastructure around car transportation, meaning that those areas are more expensive. But because those areas are more expensive and it's still a want to decide on where you want to live. You want to be able to walk to work. You want to be able to walk to the bars because you've chosen that. You've also chosen the higher rent,

and that higher rent for you ends up being over 48% of your net income. Okay, I actually, I thought I was doing like a service on myself. Sure, but obviously or not. I, well, the last apart, I just moved, I just moved out of this other apartment like two months ago. And I was paying more than that. So I kind of downsized in a way. It's a smaller unit. Paying more than that.

But that's just idiotic to pay more than that. Like, right? Well, I was paying like in the 16s. Question. If I'm shooting up, if I'm taking three puffs a day, does going down from two equal I'm doing a good job? It's an improvement. I mean, it's kind of... You're right.

That would be an improvement. Still doesn't mean it's good. Yeah, I guess you're right. I understand. I just thought at the time, like, when I was touring the property, they gave me a pretty nice rate. And I was like... Why?

Why do you think that's nice right? Maybe for the area it is. But again, for you, it's all about your situation. I know, I know. And, well, here's the situation that happened with the whole moving situation. So I had, like, went on a tour. I locked in a rate. they're like like this is going to be 1500 would you like to go ahead and secure this unit put your

deposit and i was like yes of course i want that one by the time it came for me to move in they couldn't get me the the move in date that i needed so i ended up paying for two months rent in may so like almost four thousand dollars in rent that sucks but regardless you still send the least that's too expensive for your income you knew it was 50% right yeah Yeah, yeah. Why did you think that's okay? You're what? Your parents?

My mom helped me. So you're not independent. Why did you apply and say you're independent? Well, I just wanted to be closer. I just wanted to be closer to my work. Well, yes, we know that. You've said that. That has nothing to do with the question, I said.

Why? I don't know. I just wanted to live in a nice place. That still absolutely does not even come close to answer in the question I asked. Why did you say you were independent when you, your parents are paying for rent. I saw accounts transfer in $1,048. Is that then?

Most likely. I mean, nobody really is. So you're not independent. Mm-hmm. Yeah. I'm not. But you think you are? Well, that's what I'm saying.

Like, most of the stuff, like, that comes, like, my bills and all that, like my phone bill, my cape, like, everything. I pay for that by myself. I don't know. They transferred in a fourth of your, amount that you had brought in a fourth 25%ish. Really?

It's a large amount. Well, yeah. I'd say you bring in $3,000. $1,000 comes in. Of the $4,000, that would be 25%. I guess I have like a problem. I guess I didn't really factor in like all. the times I was like going and get food or something after work or grabbing like a lunch with

a friend on the weekend. So your parents are subsidizing that. Do they know they're subsidizing that? Do they know they're subsidized you and walking to the bar? No. I mean, sometimes I still end up driving like to the bars because it's like a pretty populated area. Oh good. Oh good.

Good. Good. We spend 50% of our income to be able to walk to the bars, but yet we still drive. It's just, I don't know. Some of them are a little bar. It's a bar where you drink. Well, yeah, I mean, I don't go crazy. I don't go like super crazy.

But like whenever I'm with friends, I'm usually the one driving. I live closer to town than they do. So it's just more convenient. Okay. I don't know. I just, I don't know. I'm that kind of friend. I just go pick people up or I'll just, uh, I'll spot them or not.

How much do you just spend going out to eat? Man, probably like three, four hundred, I want to say. I don't know if that's right. You overshot that one, $225. $0.63. $2. 225. You know, does your parents know they're subsizing that?

No, they, as far as they... What do you think? They think it's just rent. What do you think they would think if they knew that? They probably wouldn't be helping me out as much, honestly. And it's being kind of deceitful, no. That you're not telling them when they're giving a good chunk of money to you. Yeah.

Is it not a form of wine? Well, no, I mean, I, they... My parents are willing to help me. I mean, I've had... Right, but they think they're helping, but really they're just buying fast. food. Well, I mean, they're also helping for like a portion of the rent. I mean, there was miscellaneous bullshit. That's this other stuff that doesn't matter. Other stuff that doesn't matter. That was $817. That's basically what they give you. I honestly think in this

conversation, you should ring them up and tell them. If you're actually here to take accountability for your life, absolutely. Because you're around. You're around. And guess what? she wants the pull out of her 401k to subsidize her That wasn't my idea My parents were like Maybe this will help you I was a little on the fence

But I just kind of like Follow their advice I didn't really know I had that much In my 401K So instead of not spending $1,200 on bullshit combined We're gonna

With our retirement Oh we could just not spend $1,200 on bullshit Or we could retire Hmm Hmm Interesting Hmm

Okay well okay I thought I thought it was a good decision I mean they kind of gave me advice But I took it I went and made the phone call I was like okay

This money will help me Pay off the debts that I have Is this already done? Yeah I might The ch- The ch-c Coming in the mail I closed the account

No How much did you have saved up? It was okay Well before they took all the fees and the taxes and stuff, it was like 10,000. 10,000 at 24, you were on your way. You were on your way. Dude, let's say you opened up a Moomu account where I just buy different stocks and

stuff like that. Let's just say that, right? Just for an example. How much were you setting aside on a monthly basis? Setting aside? Yeah, what was the percentage? How did you get to that 10,000? Like, how much are you setting aside on a monthly basis?

I honestly don't know. Like, my job kind of set that up. But for me, they, like, invested in stuff for me. Fine. Let's say it's in, let's just do 8% return annually. Okay. Let's just say you're setting aside $100 a month even. 100, no, let's say $200 because I think you had to have been about $200 to

catch up to about $10,000. Yeah, the initial amount of $10,000, you put in $200 over the next 36 years so you can take it out at $60, tax and penalty, well, penalty free. If it's Roth, then it would also be tax free. That $10,000 plus to $200 a month and 8% return on average would have gotten you to $6. $675,000. But instead, we're taking it out. Instead we're taking it out.

So we can continue to spend $1,200 a month on bull. So we can spend 50% of our net on rent so that we can walk to bars that we end up driving to anyway. You know what's worse than overpriced takeout? Seeing your hard-earned cash go straight into the trash. If you're tired of wasting money on meals, you don't even finish or even start. Today I've got a game changer for your wallet and your time. It's Factor. Factor is now owned by previous partner of the show HelloFresh

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You cut it by what? But I have time. I have time. No, no, no, no, no. That's the thing.

That's the thing. You just gave up time. That achieved it because that 8% continued to compound. Because that 8% that gets added on to that 10,000 turns into 800 bucks that year. Then all of a sudden, now we're at 10,800. And it compounds every time on top of that. It just gets bigger and bigger and bigger and bigger. But you taking that out, you've gotten.

rid of time because every single year you exist you're getting closer and closer to retirement but you've taken that out and now you've taken away the best asset you can have in your 20s which is literally time to let your money grow and you've done that so again you could subsidize making terrible choices let's get into your finances because they need a little more context because I got to remember we are doing a show here it's not just conversation between us self-assess where do you think you are finances zero being the absolute worst 10 being the absolute best where are you on that scale i think i'm at like a two okay if you want your hammer financial score it is free link in the description below and if you think that you're about to start pulling money from retirement and you need

someone to you about that go to kathamber.com slash apply and you can sit right here oh this discover balance is huge so the 10 000 wouldn't even pay this off you said it's to pay off that right yes that's how did you get in into a $9,209 credit card balance by 24 years old. Okay, well, I took this card out. I've actually had this card since I was 18. It's discover it. Yeah, everyone loves it.

It's like one of the first. I believe it or not, like I was doing pretty good. Like I was just putting gas on it in the beginning and then, you know, grocery bill here and there. But, and I was paying the balance off. But over time, it just, it just, it just, continue to grow. I didn't know like, I didn't know

when to stop because like, you know, the pandemic hit and I ended up like using it to help with some bills because I was laid off during the pandemic. That's hard. Yeah. And you didn't have an emergency fond, I take it. At that time, no, I did not. See, that fuck us. Even if you were laid off during

the pandemic, they were doubling unemployment, right? So it was just like. I didn't file for unemployment in that time. Why? That sounds dumb. You lost it because of the literal thing that was happening and programs were in place to help people that lost because of the actual thing that was happening. Well, I went. Why would you not apply?

Well, I went and I found another job somewhere else. Oh, that's great. Yeah. So then this excuse no longer make sense then. Because you use your credit card because you're unemployed, but you found another job. That's why you didn't apply for unemployment. So why would you use the credit card then? Because the job that I had was a little bit less pay than I was working like a sales job

that I got laid off on and then I ended up working at Walgreens. So I wasn't making. What was your income and then what was the next income? When I was doing sales, it was. It ranged monthly. Sometimes I was making like $3,000 a month. Sometimes I was making up to $5,000 a month. Sure.

And then when I got laid off during that, I went to Walgreens and I was making $10 an hour during the pandemic. And I was working part-time. How many hours? Like 30, I want to say. Yeah, that is hard. So it was a pretty, it was a pretty steep job. Average now to like $1,300 a month.

That makes sense. How long are you at Walgreens? I stayed there for almost a year. Why? See, what I would have done, if I lost my income by a third or a fourth, sure, I start that so I can have some money coming in, but I'm applying to every job that exists in the history of the entire world every single day. Well, I was applying.

Like, I had like people like saying me stuff. Sure, but I have people say they were applying and they apply to like three jobs or something. Yeah. Like, I mean, I had an interview for one place, but it ended up not working. Okay. offense, but if you're applying for like every job ever, you would have had more than one interview, unless your resume, it was complete trash. He had a successful sales record.

They were remote sales positions throughout the pandemic. At the beginning, everyone was a little scared, stopped hiring for a bit. But a lot of those, you know, tech companies and all the things that really went crazy during the pandemic, we're bringing on salespeople like mad because they wanted to move. I had a really hard time finding a sales job after all of that happened. Well, again, I think... I couldn't find any... What do you mean you couldn't find, though?

Like I was like, you know, scrolling LinkedIn and I was like on what's what's it indeed and just looking for those sales jobs. And I mean, I just couldn't find anything that was like either close by or like had competitive pay. Close by. Everything was remote during the pandemic. Oh, well, no. I was, when I was doing sales, I was in store. Yeah, but it was you got laid off at the beginning of the pandemic. I got laid off like mid the middle of it like May. So, yeah. May

Yeah, May 2020 I don't know if that's in the It was kind of like 2020, 2020 and then like the first half of 2022 It was like the very beginning of 2020 When all that happened like March was announced That's what I just said You were at the beginning

So no shit you were from work And they probably saw everyone freaked out At the beginning business is freaked out Yeah Okay So we're at $9,209.44 With $186 minimum fee payment $1 of purchases.

It's a little weird. Yeah, that one's like, I don't have a spending limit anymore. So what do you mean? It's like, I think my credit limit was like $9,300. Yeah. You're a $9,209. So that's the only reason you're not spending on it. Yeah, I just don't want to make it go up any higher.

I mean, I have another car. That's the reason, not because you just shouldn't be spending on a credit card because your balance is already there and you can't pay it off, because you don't want to hit your limit? Well. Because you can't spend more money on that? Well, I can't. I don't want to have any more fees or anything like that.

So I just put it on another card. You put it on another card? Yeah. Okay, obviously. And this is okay. You're not a credit card person. That is okay. You don't have to be.

Everyone thinks that everyone wants to be. You really don't have to be. You really don't. You're not. Because you want to take advantage of the credit part. So use the Fizz card where you can do exactly that. But it's meant for people like you who just cannot. manage their finances.

Because you are not a critical. You can't manage this. And you're like, okay, I don't want to have the fees because I'm at the top. So let me just do minimum fee payments on it. And $165 in ventures is accruing on here. That's crazy. Something on Amazon. Yeah.

Okay. So I made sure to like fix that. I like signed up for Amazon to go like order something real quick. And I used to like the student discount or whatnot. And I forgot this card was. attached because I used to use Amazon a lot and this card was still on the payment method. I just had a moment of confusion. We just talked about how you got laid off in 2020.

You said you used this card. Yeah. Oh buddy, you're at the credit limit. So you're there's no way that you use this only right then because you wouldn't have only paid off $100 in four years. So what is the history with this card? So I did take out a loan with my bank to pay this card. off. So it's been paid off already.

Like, like. I understand Dave Ramsey more and more every single day of why he refuses to accept consolidation as an option. Yeah, I paid this card off before. But, and I paid it off like two years ago. But this, I mean, it's the balance. They gave me a bigger limit and I just, yeah. Of course I did.

So I, yeah, I see now, I probably should have closed it. But I, that was the only card I had. the time. Why would you need one in your mind? Because here's the thing for the consolidation stuff, what people like you under doing. And again, this is because you're not a credit card person. And that is okay. That is not, I'm not like, you're not a credit card person. You're worse than everyone else. It's not that. It's just, you can't manage it. That's fine. So don't use it. Like, that's totally chill. You don't need to be a credit card person. Who cares? But because you didn't fix any of the behaviors that got you on the credit card debt in the first place,

all of a sudden you consolidate it and you have so much money you can spend on here again. And without fixing any of the behaviors, you just blown it up. And you believe it. And you ballooned it up. I did. I did. You're kind of doing this again, though. You're kind of doing that again. You haven't fixed any of the behavior,

which is whenever how you spend $1,200 on bullshit this month and you're withdrawing your retirement to pay off a debt. You're just going to build a debt right back up and then have no retirement. Because you drained it to pay it off, but you didn't fix your behavior that last month suggests that. You're doing it again.

You didn't learn your lesson. I will, okay. I was going to take that money. I was going to take that money, pay this off. Yes, I got that part. And maybe close it because I don't need this card anymore. Close it. Not maybe.

Close it. You cannot have access to this. You don't know how to manage having access to this. This is not a tool for your success. You are their money-making machine. Yeah. Dude, they're profiting off you like crazy. Look at $165 of interest in a month.

And that's at a low credit card interest rate of 20%. Yeah. That's low for a credit card. It is? For people on this show, yeah. Most people sit at 30 or something. Well, I have a few that are a little up there. Oh, I know.

But even still, you're just doing it again. That's so scary. You have to close the account. If you're going to drain retirement, which is, Okay, fine, you're doing that. You're going to get hit with fees. You're going to get hit with taxes. Wait, so what's your net?

What's your net? You took out 10. What's your net? It was like 76 after all the stuff came out. I mean, you're also doing that. A time when the market is good, so you're probably like, you had some gains on there. And you were just, you're like, you know what, those gains? I want to pay taxes on them.

I figured it would help me, and I have time to get that up. potentially. So I don't know if you know what the word help is because the last time you did it, you just, this is where you are. We're at the max again. The last time you did a consolidation type thing. And this is you in a way doing it again. So I don't know if the word help is what truly applies.

And $3,000 of it literally went up in flames anyway. So you just had you just 30% interest essentially 25, 30% interest on the. That's what you just took out on your retirement. really if it breaks down so you just swapped it yeah well i mean i don't even know if i have i mean that loan is not even going to cover i don't think i'm even get most of that it was a loan well no it's no i okay it was a withdrawal i think that's the term they used i witcher loan would have been better probably closed it then again i don't think that would have solved your issue once more but yeah that's something on amazon that's my other card right there

I know. It's right in front of me. Apple is $1,522.68 with the $52 minimum fee payment. Oh, you're purchasing things on here. What are you doing? What are you doing? See, this is what happens. This is what happens.

You're going to continue purchasing things even though you pay off a card with that 7. You can't even pay off that last card with the $7,500 you get from the $10,000. So what the, what are you doing? Panera sip club, sip club so you can die from their charged lemonade. And then merch table. They actually discontinue that. And then more sip club. They didn't discontinue it.

They put it behind the counter. Oh, okay. I do actually like them. But yeah, no, there's a Panera close to work and I just go in there to grab something like for breakfast or something before. That your parents are paying for. reminder in reality i don't know i just i it's it's quick it's easy i i don't really like cooking that much so i just prefer to just pick something i don't know if that's an option 50% of your income goes to rent and your parents give you a force of your money i don't know if that's

an option i don't think want is a word we really get to use i'm just not like very like i always whenever I cook I just end up making like it's my pad and I have to throw it away. So it's just a waste of money in my opinion to cook. Have you heard of recipes? Well, yeah, I'll follow a recipe and then it just doesn't go as planned and then I end up throwing it away. Maybe you need to start basic recipes. Like hot. Oh, what is that?

You put it in, you close it goes beep, beep, beep, beep, beep, beep. Airfire, not air fire. Oh, I have one of those. What's it called? What's it called the hot pot? Instapot. Instapot. Come on.

Like, it's not the most thrilling thing in the world, but everything at least. tastes like food when it comes out of it. I don't really have, I don't have an instapot. I mean, I'm willing to try. I'll buy you an Instapot if that's what gets you out of debt. You get an Instapot. You can look under your chair. There might be an Instapot, you know.

I don't know. It's just, like I said, it's right there. It's like close to the office. I just go on lunch, pick something up. That's, this is the card that I use because the other one is pretty much like maxed out. I didn't want to use it anymore. But again, I have to go back to this.

said, I don't want to cook. Like, that is not an option. Yeah. This is not an option. I don't really get it. And sip club, that certainly doesn't seem like a option. Well, sip from your faucet, dude.

Well, okay, so they have, like, tea and coffee and stuff. Oh, they do. You can just go in. Oh, that's really interesting. You know, that actually really is interesting. Because I've never seen, if I'm not mistaken, I've never seen coffee or tea at the grocery store. Well, okay, I don't know.

they're just like I said it's it's hot it's like I just go pick it up that you can serve yourself I walk to the office it's it's easier when I'm in a rush yes I know that's a want I know I know how does that possibly excuse it I I know why you do it everyone literally knows why you do it everyone understands what this is you didn't have to explain the sipservice to us I we know what it is how does it existing just it to you. Your parents pay for your bills. Add up all your utilities and everything for your apartment.

62% of your income goes to your living right now. You're just the roof over your head living. Yeah. It's a nice place. I mean, I just. Yes, I know, which is why it costs that much. How does that excuse it? I'm so confused by you.

Well, okay. So like every time I bring up something that you exist and you're like, yeah, it's because that's what it is. Okay. Okay. I secured that unit because I have two dogs and the unit that I'm in is on the first floor. I have access to a yard and it's easier for me to just get them. You're doing it again. You're literally doing it again. I don't need to know why it's expensive. The reason doesn't matter. I don't care if it's expensive because you get to go in and get a drink. I don't care if it's expensive because you're on the ground floor. That's not the conversation we're having. I'm so confused. What are we doing here? Is that? what goes through your brain with every purchase is the justification because clearly you're just justifying everything you're justifying using your parents so they don't even know it like what are we doing that's immature that's a child you're 24 you're an adult six years well okay i i came here to get help i mean obviously i know that my spending is little out like i should probably get better at

managing but if i do not address your mindset you're not getting help because you are so clearly, clearly trying to justify things beyond belief. Dude, you just literally tried to justify Sip Club because they have tea, because tea exists there. Like I said, it's right there. I mean, I get it. Yes, I can go to the store. Am I the only one that sees this? Am I broken here?

Like, what is happening? Am I, do? I, okay, I honestly. Is this prank week? No. No, no. I just, I didn't even know about it. Somebody at work told me about it.

They're like, hey, Shelly, you know, you can just go. I don't need to know why. I don't either know why. I don't even know why. I don't care. That doesn't matter. All that matters is you do it and you shouldn't because you can't afford it. Oh my gosh.

You're talking about going to the bar with all your friends, right? Yeah. Cool. Live with one of them. Why do you live on your own? You're 24. It's okay to have a roommate at 24. Well, I had a roommate before.

I don't, I don't, I don't, I had a very bad roommate situation. Okay. Was it with one of your best friends? No. Oh, interesting. So let's try to live with one of our best friends. But they, they all have like partners. Like they have boyfriends and stuff.

So I, so what happened with the roommate then? So I, they were my coworkers. I had two roommates. So it was three of us in one apartment. And I just, I was younger than them. And I. How much? younger before we play the victim card.

Well, they were 26 and I was, I was 19. Okay. So I, um, so you were an adult. Yeah. Yeah, I was. I was and I still, I am, but it's just whenever the situation happened, the way that we like split costs wasn't in my, my eyes fair. I was paying a lot more than they were.

Why? Because I had the bigger room. Oh, that, that's actually a pretty common thing, though. Usually the person that has the nicer room, nicer bedroom, pays, you know, a little better. I was upstairs. Bigger sounds nicer. It was, like, right across, but one of the girls had their own restroom.

Like, I just didn't think it was fair. Okay, okay. But. Why did you agree to it? Well, at the time, I was really, like, itching and get out of the house with my folks. Sure, you rushed it. I just wanted independence. And, I mean, looking back at it now, I should have just stayed.

Sure. That's hindsight. change that. I know. Yeah, that, I mean, I can't harp on you for that. It's not like you're doing that right now. What you're doing right now is spending 62% on your roof. That I can harp on. But what was the bad situation other than you may have gotten an unfair deal? Okay, so this was when I was still doing the sales job. So I had like, I, where I worked, like, I sold furniture and like electronics and stuff. So I, like, we all got together and we're like, okay, we need furniture. We didn't have a couch. We didn't have nothing. So we got like furniture.

We got a new TV. washer and dryer and both of them got... Water washing and dryer for an apartment? I would have rented. But... That's okay. Again, it's in the past.

I was the only one with good credit at the time. So I opened the credit line in my name and financed it all. But this... It was like, with everything, I want to say it was like 5,000. At 19?

Yeah, and they were supposed to help. This is where it gets pretty messed up. They were supposed to help me pay for it, but only one of them helped me. The other girl kind of backed out on me. Yeah, that's trash. That's trash to them. I mean, they're just, they're a bad person.

So that's been paid. It's paid off. It took a few years, but I got paid off. But that was... Does that really matter if we got into debt again anyway, but yeah. But that sucks. That is a shit situation. And I am sorry that happens. And

it doesn't mean that I don't think you get... I think that's a learning lesson on taking out debt for other people though. I don't think that's a learning lesson on you can't have roommates. Yeah, I just didn't want to go through that again. Sure, but again, I think that's a lesson of you could go through that again without having roommates. You could go through that again by agreeing to put a vacation with a bunch of friends on a card

in that they have to pay you back and then one of them doesn't. Like, you can go through that situation in so many different ways. That doesn't mean it's a roommate situation. I understand that you're probably associating that with the roommate situation. So that's just more don't agree to pay for other people that you don't fully trust and doesn't have a record of paying you back, you know, which it sounds like, I mean, you weren't, or you're co-workers, but maybe not Uber close or at least having a track record of them. And again, they do sound like a piece of shit. I'm not going to be wrong. Like the person, but I don't think that means you can't get a roommate again.

When you, I want your rent to be closer to 30%. That's what I would want. 30, 35. You're with your, you know, the roof overhead. Right now you're 66%. But where am I going to find something that's... Roommate, I said. And also, maybe just not living downtown.

You might have to commute. I have an exciting channel announcement, and it's one of the most exciting things we've done so far. By popular demand, we've launched a new tier to our channel memberships. There you'll get an exclusive audit that can't be found anywhere else. It's ad-free and completely uncensored

on the first Tuesday of every month. On the second and fourth Tuesday of every month, myself and members of the company, will be doing exclusive member live streams where we can hang out with you and talk about whatever you want to live. And finally, on the third Tuesday of every month, we'll be posting a new behind the scenes podcast called Crewcast where we'll be discussing everything behind the scenes at Hammer Media. And of course, this new tier gets access to all the badges, emojis, and the financial audit post show. This is honestly going to be really fun and I'm super excited. And we kicked it off this week

with an exclusive couples audit and an updated office tour since we've expanded so quickly. Check it out, Link in the description below and in the pinned comment. Even when I, like, moved to, like, Arlington or whatnot, like, I, it was still really expensive. I was paying, like, $1,200 at that time. Oh, my gosh. What's more expensive? $1,500 or $1,500? Well, that was, I don't work.

You're working downtown Dows. Yeah. No, Port Worth, downtown Fort Worth. So, I mean, I just, I wanted to be closer to the office. Oh, I know what you wanted. Again, that doesn't, like, you don't have to tell me that. I just, I don't see myself having roommates again. I just had like a, I had multiple roommates.

Sounds like you're not willing to sacrifice though. Okay, in Fort Worth, and I can't speak for every single one of these places, but I am getting at below 1,200, 298 results. And those are complexes. So then there's units within those complexes. So 98 complexes. I'm seeing $879. This place actually looks pretty nice. It might be a commute.

It is certainly further from downtown, but it actually looks pretty nice. It has a great community center. Really nice pool. $1,000. This is like a condo. That looks nice. New apartment building,

you know, might be cheap, but it's $900. Dude, there's options everywhere. You just look because you want to live there. Again, you're making excuses to live there.

You're trying to find justifications. This took me two seconds. Like literally two seconds. That was not even over exaggeration. So I just, I don't know. I, I, I just, I've lived in, like, places that were. We're going to make an excuse again. Okay.

Okay. I just lived in a place that wasn't that nice, and I just wanted to treat myself to a nicer area. Treat. Wanted. Treat. Wanted. Treat.

I don't give a shit. Like, I mean, I care. Please do not make this a conversation where I literally care about your future more than you do. This can not This can not be a thing If you don't care about your future There's no point Not if you care about your wants and sweet treats more

Okay All right Congratulations you've earned points To start redeeming on your care credit rewards card Okay that's that's medical That I had to go get What happened? My glasses and stuff

So So is I Yeah And I this card is I use it for like two separate things I have hearing needs, so I also use that whenever I need to get an upgrade. But this is for my contacts and glasses. Well, $275.

$31. It's a smaller balance than most. There's no interest accruing. It's a $30 minimum monthly payment. I'm confused. Why did you put $80 towards it? Well, I kind of, like, calculated with the sales lady. She was like, if you don't want to pay any interest, like, you can just pay 80.

And then by the time, I think it was 16 months I had. So $80, I would have paid off my balance. without any interest. Oh, so, okay. No, that's fair enough. I'm going to put that in quotes. Parentheses, 80 bucks is what we want to aim for. Okay.

Care credit. Oh, because you are having deferred interest. And that'll hit you. So absolutely, I agree. I agree. I agree. Okay. Home Plus, did you get a furniture loan?

I did. When I moved to my new place, I didn't, well, I got rid of my old couch because like it got, it was torn up and I just, it was time for a new one. Dude, not to suck the zuck, but Facebook marketplace is great. Yeah. Well, I mean, here, here I found a pretty cheap couch. It was like 300 bucks.

Yeah, but you financed it. Yeah, I didn't have, I didn't have the money to like pay out and cash at the time. But I mean, the, when I was there, they were like, hey, we can get you no interest. And I was like, okay. And so they were able to like, I got like a few other. I had to get a few other things to like meet. Had to. Well,

there's like a certain minimum that they have to. So that they can make money off of you. Yeah. So does that make sense then? Again, maybe we just get a couch off of Facebook marketplace for 100 bucks. You know the best people on Facebook marketplace? The rich.

Because they literally just want someone to come pick up their stuff. And they're basically marketed. They don't even know what it's worth. They're just like, I want this gone. It's not going to affect their bottom line. It's going to be like pennies to them. I don't know.

I haven't really heard good stories. about Facebook Marketplace. Okay, how many stories have you heard? Well, I've heard a few people say, like, you know, they've been scams or, you know, they'd come meet somebody and then they're stood up, you know. Yeah, go with a friend. Here's a story. I've had good experiences on Facebook Marketplace.

Claire, one of the people that works here has had a good experience on Facebook Marketplace. I went and picked up furniture with her when she moved here. Okay, so now you've heard two good stories. Does that offset your bad stories? No, but I mean, I can't do anything now. I can't do anything now about it. You're right, but you're going to buy. furniture in the future.

No, I think this one's going to last me a few years. I won't. You're never going to buy a piece of furniture again. Well, like I said, for a few years or maybe three, four years down the line out of Even still, three, four years down the line, I'm trying to prevent you from doing the dumb thing you did at 19 again. That was five years ago. Three, four years down the line, I want to prevent you from doing that bad thing.

That's fair. Yeah, yeah. Well, maybe I'll check it out this next time, Facebook Marketplace. Don't put it on a credit card. Yeah. This one's business is free. So you have to make $150 a month to pay it off before interest. $1.15.

But it's a $30 minimum monthly, but you need to do $115. You see what you got yourself into? We're 60, what was it, 62% goes to the roof over you head. Now these minimum monthly payments are stacking. Then you go spend $1,200 a month on BS. You see what you put yourself into? That's what happens when we just don't. Have you ever budgeted?

for legitimately. Well, I've tried, but I mean, sometimes. So it hasn't worked. No. Obviously. Okay. Just like any guest who comes on here, go through our budgeting class, dude. Go through it.

Take the quizzes. Truly take in the education. Take it as many times as you want. Take the investing one as well because you just sold your retirement account. So I need you to get back into that eventually. And at least you get $100 for free and coupons that I give you towards your investment account. But like, for real, go through the budgeting one. Learn how to budget, build it out.

in the class, you need to put some education behind those eyeballs, dude. We need the knowledge and the practice and the discipline. Because these minimum wage payments are starting to stack out of control on top of your housing that you cannot afford and you're taking money from your parents and they don't even know why. We're going to call them. They are. They don't even know I'm here.

They're about to find out. I think if you're really going to take accountability, I think you need to actually take accountability, not have a conversation and say, all right, it's good. I think you actually, not with me, you know, with me. I think you actually need to put a step forward. Okay. Welcome, authorized users. Synchrony.

Oh, everyone loves a good synchrony card. What was this for? I think that's still, that's my home furniture. I believe so, because I know it says... Different. Oh, oh, oh, oh, I see. Yep. They like have...

So the deferred interest so far is $585. Yeah, that's not our choice. We've got to pay that. Oh, my gosh. What is this? What is this? That's the loan that I took out to consolidate my debt on the Discover card. So not only are we still paying off the consolidate loan, but the.

So we're still paying off to consolidate loan. All the credit cards are back up. Mm-hmm. And we just drained our retirement. And that all happened right now. But the retirement is going to help pay, like the smaller. Consolidating your last consolidation? Oh my gosh.

Yeah. Noah, can we do? I don't even drink, but can we just get in the post show? Because I'm going to need a thousand drinks after this one. Oh. I have something that's going to ruin my day. Okay. Well, this has already ruined my day, so let's ruin it further.

For sure. Okay, yeah, yeah. I'm committing, I'm committing. You're committed. And then I'll tell you to fuck later if I don't want to. Go back in your corner. Go back in your corner. I'll see you in the post show.

Notary little boy. Consumer loan, personal loan, consolidation loan. Yeah, it's almost paid off. It's like halfway there. No, it's getting ambitious. He stepped out here today. $7,000.

Oh, that's the original principal paid today. What's it at right now? What's the balance of it for this? I can check. I have the app. Let me see. It's at 10.5% interest. Kill me.

I actually got a discount on that. I got like a lower APR because I was an employee. Where. Yeah. It's not. That's such a good deal. I think it's like at like 3,200 left to pay it off. So I'm like a little bit more than halfway like paid off.

I've had it for two years. When did you consolidate again? Um, I don't know. I'm considering it because I know that the loan isn't going to. I asked when did you. Did you take out the consolidation loan? Oh, this? I took this out, like, in 2022, like around November of 2022.

Okay. It's been a couple years. Yeah, yeah. Money owed to parents? So not only do they give you money, but you literally owe them money? I do. For what? The moving situation, remember, I had to pay two rents, so they helped me pay one of them.

So, yeah. But they're not, like, rushing me. They said, you know, take your time whenever you can get it back to us. You know, I asked if I could do monthly payments and they said no. They said they wanted it all back at once. You know, it would be their money paying them back. I'm not proud of it. I didn't want to pay that much.

I'm not saying you're proud of any of this. Don't get me wrong. It's more of the, the, the, the, justifications constantly. Less on this one, but the rest. I think it just makes me feel better because I, I'm not, I'm. What does? Trying to justify. everything. Well, yeah, that's what you're doing.

It's your human brain. We're all flawed. We're dumb little creatures. We think we're more special than we are. Now, we're fucking like, we barely even exist. We're surviving. Like, of course. This is what your brain's trying to do to fight the fact that you've done some bullshit and you're finally getting called

out for it. That's what happens. We need to wake up. Checking it out. Balance the statement, $30? $30? You have $15? $1,500 rent. Oh my gosh.

Oh my goodness. I did just get paid. I did just get paid. Oh, thank you. Yeah. And I paid a rent yesterday. Well, we also did Sonic Drive-Thru, Raising King, Tulu, Amazon Prime. Best Buy $648.

That was a gift. That was a gift that I just purchased. It was for my mom's birthday. You can't. I know, but my dad went half with me, so I didn't. I don't give a shit. I don't give a shit. You can't afford it.

Dety, I cannot afford it. I can't do this gift. I know. I just, I didn't, I would feel bad if I didn't get her anything. So I was, I, okay. All right. Yeah. Yeah, yeah, yeah.

You don't feel bad about dying in poverty? I feel bad about that. Oh, okay. Which one would feel worse? Second one. Hmm. Yeah. Choices, choices.

There's not one money out. To Fifi. That's my best friend. Okay. I thought it was like a double fee. All right. Apple bill. Jack in the box.

Specks. Jack in the box. Check in the box. All right. Top of the curly fries, dude. It's right there by, like, on my office. So I just. Congratulations.

I'm thrilled for the proximity of jacking the box close to your office. Okay. All right. Is do you have to walk through the jack in the box to get to your desk? No. Oh, then you don't have to stop there. That's interesting. Raising Cains.

Is that on the. the other side? Is that at the exit door of the office? Oh my gosh. It actually is great. I just go where it's closest. Yeah, I know I probably shouldn't be going there as often. You know, it's the closest when you wake up, your kitchen. Jack in the box, Netflix, Wingstop, Fortnite, Fortnite, the fuck are you doing? Well, some of my friends, like, live like, like, they're all over the place, so we, we, like, meet up and, like, play games whenever we can. so I was Yeah

I paid for It's a free game Well no we were like We were trying to get like matching skins and stuff And so that's what that is There was like this Billy Elish skin That they like were dying to have And so I gifted it to them

Yeah I probably shouldn't have done that I gifted them all like Their own So we could be matching I don't know It's a fun past time That's what I do

when I get off work, when I don't have school. I just play it. You just spend money on getting Billy Elish skins. I know it sounds silly, but it's... Stop erasing canes. Then buy Billy Elish skins. Like I said, it's just for me to kind of connect with my friends that are like... I don't know how Billy Elish even runs with those things anyway.

Texaco. Go inside getting some... Fortnite. Again. Fortnite again. Oh my, what are we doing? I was gifting,

I was gifting my friends. $54. $54 on Fortnite. Those V-bucks are expensive. So maybe we don't do them. Okay. Yeah. Yeah.

What were? I don't, it was like a spur of the moment. Like we were, I was like, sure. Yeah. Jack in the box. A.

I. Oh, that's, that's for, that's like the music technology I use for, I, I sing sometimes at my church, and so I have to use that to filter the tracks so that I can... Filter the tracks?

Yeah, like, I have to take the lead vocals out just to leave, like, the instrumental and the backing. Karaoke, you can't search for karaoke version? Well, no, because it took a whole thing. Like, like, my church, we can't get any copyright strikes, so we have to, like, use, like, pay for the service and the song. It's, like, a whole thing. But I think I can get reimburs.

for that. So you have to how much? It was five bucks. No, I know, but how much you spend for this? Because everyone else, they just get up there and they go,

Oh, God, is it awesome, God we friends. Well, I don't think they're paying for that. No, they're not.

It's just, we have a small, like, there's not much really, we don't have a band or anything, so I have to have something in the back.

Okay, Jack in the box, Nintendo, Jack in the box, social house. no oh that was $14. Thank you guys.

Wait, whoa, whoa, $14. Check for the old spectrum. That was expensive. Okay, there's your rent. Panera bread. Hey, mixing it up. Check in the box.

Apple bill. Apple bill. What are you getting? Gems in game app tokens? Because you do it again. Then Uber. Oh, I have Apple One. The family.

I pay for my family's Apple One. You have three Apple bills. So. Well, okay. Some of these, yeah, Apple one and then the other one My dad has like a subscription to upgrade his ICloud storage

And then what's the last one? I don't know I don't know what it is Then you went inside against a Oh guys I was excited I was excited to walking into this Because I was like this dude Look at her 24 $10,000 saved up for retirement

That's the loan that I took out It's not alone you withdrew it Yeah Loan's different so I still have one like with my current $3,000 you went from 13 to 3. It's that's your retirement that's your retirement well to be honest I thought when I took it out

I was going to have 10,000 but after speaking to the guy on the phone he was like there was a bunch of fees and taxes that need be taken out so it then why did you decide to still do it because that's fine maybe we're a little like okay I needed I needed I I needed it because obviously my credit cards. Perhaps. Remind me. The last five, ten minutes, have we not gone over going to a jack in the box every day of our lives?

So did you need to withdraw your retirement? Or did you need to get some curly fries? Which one was it? Clearly, in your mind, you needed to get curly fries. Like I said, this was just like the first. step. I was taking, I was withdrawing that to help pay off most of these so that way I'm not paying so much on my credit cards every month. I thought I was going to hell. You don't know why you're doing it. Yeah. Okay. Well, I'll, I'll, I'll stop. Like, I've already

cut up my parts. You've cashed a check? No, I haven't. I haven't received it yet. It's coming in the mail. I already, I wonder if you can back out. I wonder if you can back out. I don't know. I don't know in that process. I'd call them and ask if you can stop. Let's find a way to get out of debt without compound. Because, I mean, yes. Let's say it averages 10% S&P 500, maybe 12% at best. I mean, your 25% debt is going to be worse. But with you getting hit,

25, close to 30% on the capital gains and fees, early withdrawal penalties. Like, you're negating it. You're negating it. So the math isn't mathing. I would want you to potentially stop. We need to look at this whole situation. But I need you to take accountability. This is your choice.

I'm not going to force you to do anything. Call your parents? I'll call them. Call your parents. Go ahead. Right now? Yes. This is taking accountability.

This is actually stepping up for the first time. Oh, gosh. I don't know which one to call. Which one is the one that gives the money, you know, mentally. You know, whose idea was it? Who do you talk to you about this? My mom. Call the mom.

Good. Pops? My dad, okay. Okay. Hey, dad. Hey, dad. I was just going to call you and talk about, you know how you guys have been helping me with the loan and stuff? Mm-hmm.

I guess I was just going to call and see, like, okay, I know you guys gave me plenty of time to pay it off, but I guess. I needed to be honest with you guys. Do you have time to talk? Yeah. Okay. I just want to make sure, because I know you're at work, I don't want to bother you. No, it's fine. What's up? Well, the $1,200 you guys have loaned me. I haven't really been that responsible with putting money aside to pay you guys back.

And I know you and I have had plenty of conversations about this, about, you know, spending it on food and stuff. And I haven't beat that habit. And I just wanted to be honest with you. So I'm going to, I'm going to try. I'm going to try to pay you guys back. But it's just going to take a little longer, okay? So what have you been doing?

I've been like, you know, like grabbing, like, fast food on the way home or something. Or, you know, I still go get groceries, but, I mean, I don't cook as often. so I mean I do still spend like a lot $1,200 apparently. I'm going over my finances right now with a financial auditor and they're helping me like look at my expenses and I have a lot of spending that isn't going towards helping pay you guys back. So I just wanted to be honest with you about that. It's a hobby that you have to spend money and I mean you can you can right

but when you cannot, you just need to call yourself back and say, no, I can afford it. It's just simple as that, honey. You need to pay yourself by eating out every once in a while, but you spend it just because it's no right. I know. There's just days where I'm just, you know, I'm not motivated to go cook, and I know that's not a great excuse,

but you're right, I should not be doing that. So I do want to pay you guys back. but it's just going to take a little bit longer. I hope you understand. Well, I've been telling you there's no reason for you to hurry up. And I know that you're supposed to have savings and you have your account. And when I check your account, you still have money. So I don't know.

I don't know how you hide the expenses because I see that you don't spend too much money anywhere. Yeah. I don't know how you hide it. I don't know how you've been paying. well I mean the only my my financial auditor is having me just like call you but um I you guys just to be clear y'all don't y'all don't give me monthly uh income y'all just gave me the one-time small loan when I moved right I'm not I'm not asking you guys every month to send me a thousand bucks right I I took that one-time loan and I'm trying to pay you guys back but obviously I don't

having enough money set aside to give it to you all at once. It's going to take some time for me to get there. Yeah, but it's not just, I deposit money when I see you, I see you will over overdraft, yeah, to avoid a fee. No, I, who's your finance auditor? What is that? What do you have to call a finance auditor? Because I, I wanted, I needed help looking over all my accounts to make sure I'm making the, Who's the cause you to do that? I'm not getting charged for it. It's free.

From where? It's here. I'm in Austin right now. I know I didn't tell you guys, but I'm coming home tonight. But, uh, you are in Austin. Because that's where he's based out of. And why do you have to go to Austin? Because I, I found this guy online and I trust him and I...

You know what, Shelley, that is the stupid decisions you made. Stupid decisions you made. You wanted somebody out of your money? I can order you money. money your mom can out of your money you driving all the way too often wait in the time wasting you you no no no no good work just for what i do no understand shell we reimburse you hand up and you talk to your mom see how she react okay yes dad all right love you bye i knew that was gonna be bad i didn't tell him i was coming here well you get reimbursed for the travel and

taking time off work so you can tell him that but okay um that was brave that was brave he i was scared to talk to him he's he's he's tough he's tough honey so sure um hello sir my name is Caleb hammer so she's actually participating in a YouTube show called financial audit so we reimburse people for their travel and time

so it's just it's a show where we sit down and we help people budget so she's not paying for anything she's actually being paid for this um and you know it's just an hour of filming and she drove down to participate and we just wrapped yeah and then and then you have access to her accounts and so as the curate and everything

No. You know what? You're missing with the wrong person. I'll just let you know. Okay. You touched my daughter one penny. You guys will get busted. I'm just telling you.

Good news. There won't be any of that, and we don't have access to any accounts either. But... Yeah, so you guys pay for somebody just to go and tell you the finance, right? So you have the good summaries in the internet. I'm sorry. Man, he hung up.

He's mad. He's probably for the best. He needs to cool down. He's very old-fashioned. That was very brave. Well, that's a good friend. step. So good job for that. I mean, you know, that takes a lot to admit that you're still effing around and, you know, I'm upset, but not incredibly shocked to hear that they put money in

when you're overdrafting. Yeah. You have 30 bucks in your account. We are basically halfway through the year and I need to make sure you guys are saving your money in the right place. In my resources section in the description below, you can sign up for one of the best high-yield savings accounts there are, but you can also get 300. for free with qualifying deposits. You can also get FDIC insurance up to $2 million on your money and get $4.6% on the money that's just sitting there. It's exactly where I put my money. Why let your money lose money when it could be making money? It's the biggest no-brainer in the world. Open up a SOFi high-yield savings account now and get that $300 for free.

When did they lend you this money? When was that? When was that? It was just at one time. that? May. Then why did you get $1,000 this last month from them? Well, the reimbursement for one of the gifts, remember my mom gave, I got her gift. You said you paid half and that was like $600 or $800. Why did you get $1,000?

Well, sometimes I pick up food for them because they're a little older. I pick them up food and they reimbursed me. There's like a few transactions on there that aren't mine. I just get reimbursed picking it up for them. Okay. obviously a whole thing is a mess that was very brave though

that is the first step I mean that shows that you're at least willing to do something and that was hard that was hard but you're a bad and I know he's very confused about this situation

and that's okay we're happy to type up an email if you want some explanation like a like what a kid gets when they're sick from school give you a little note well I mean I took time off from work

I'm getting paid PTO, so I don't know why. Oh, and reimburse. So it kind of works. I don't know why they're... Well, okay, for what it's worth. I mean, if I was driving to get something for free, you know, like you're not paying someone for someone to look at your finances in a completely different city, like, he doesn't know what's going on?

So like, I get it. I would be like, what the fuck are you doing as well? So I get it. Because it does sound weird from the outside. Okay. Let's do the budget. And on the income side, $3,200 comes in. Mm-hmm.

The debt payments, let's do the debt payments you need to do to not get deferred interests. What's your car situation? My car's paid off. Okay, what is it? It's a 2018 kiosol. How is it? It's in good condition. Good.

It's like 70,000 miles. Not bad. Okay. So what's your rent again, the exact number? 1550. Utilities all combined? That's electricity, internet, and mobile, right? yeah um i want to say i had Wi-Fi 11830

so that correct yeah which is crazy yeah what are you getting well i i actually had to call them and get my thing lowered my service plane because it was was way up there yeah i get a gig for 40 bucks so yeah i i did i think it's supposed to go down to 50 i had to be called and got that fixed um so it will go to 50 i can put it at 50 yes yeah Good. Good. And then my... I have renters insurance as $76.13. Oh, yeah. I have...

Is that a month? That has to be the annual. No, that's... I had pet insurance, too, so it's like combined. Oh, yes. I think my... Pet insurance has saved me thousands and thousands of dollars. I have an elderly dog, so I definitely need it.

Utilities, I got $237.36. You okay? What's going on? Yeah, I'm trying to see what that... insurance was. I mean, renter's insurance is $27. Gotcha. I'll just combine them together. Okay. $237 for utilities and $0.36. Okay. How much of room, room gas drive drive? Um, I, I would say like $80 a month.

$94.18 is what we had. $94.18. Wow. Was it a driving month? Well, sometimes I try to do Uber like to pick up some money, but... Okay, well, we didn't have any Uber coming in, so that wouldn't account for that. often. Yeah, I got to put it as 94. What's your car insurance? I don't pay a car insurance.

My parents, they got that for me. Okay. Again, the independent thing. It's okay. I had no problem with it, but you were so, you're bragging in your application, how you're independent and on your own.

But, okay. T.P. Fun, anything else you need to survive in life? You break that down in the budgeting program. You figure that out, because what we're just trying to do is get like an overhead budget and figure out what we can do. $300 for groceries, perfectly fine. Follow our meal plan.

Adjust it for what you need. Medical. Co-pays, anything like that. Mm-mm. Okay. Jim? I paid an annual subscription, so that's already done. How much?

It's like, like, 1.30. Okay. You'll budget that in. Subscriptions, nope. Savings, nope. Phone. Oh, it's like $60. Do you owe anything on the phone?

Was it through? Yeah, I, I, I, I, I had to purchase, I refinanced my phone through them. Okay. When it's done, switch to helium, $20 a month. It uses the T-Mobile towers, so I promise it's good. Save that money, dude, when we're trying to get out of debt. Anywhere helps.

My pets, I... Yeah, how much for food? And other things. How much total for pets besides pet insurance? Besides pet. I would say for their food, it's $80 a month because I got two of them. 80? Mm-hmm.

And then my tuition also. Oh, fuck me. What's that? It's pretty inexpensive. It's $200? A month or? For a month because I'm taking summer courses, but it gets cheaper once I do like a fall, spring semester. Okay.

You actually hit your budget off $7 on the upside. You're over it by $7.55 before the schooling. Oh, how much more school do we have left? I'm graduating this December. Yeah. So what I would actually do is prioritize cash flow and the rest of school by, if you can pick up a shift anywhere,

just to make your budget on the positive side, much tightly, don't spend on fun, free fun, tell your friends, tell your family, they'll understand, and they'll cover you. You're not asking them to, but they will if they want to go do that thing and they already know that you can't. If not, you know, that's fine.

Hang out, parks, stuff like that. Focus on cash flowing for the rest of the semester and saving up anything on the side as much as you can. One shift, two shifts at a coffee shop. Your dad's calling you. Yeah. Can you wait 10 minutes? Yeah, I'll tell him.

I'll call him. You can give him a call in between this and the post show. Okay, cool. And so I would do that through December and save up as much on the side if you can. You can save up about $3,200 between then and out while cash flowing school, which is a lot. You know, you're going to have to work a second job every once in a while, just a couple times a week.

That would be great because I could see a one-month emergency fund by the time of graduation. Then obviously use that degree, leverage it, and get a better paying job, of course. From there, again, I would not pull out of your retirement right now with the fees and everything. It does not make sense. You're just losing money. You're making your minimum fee payments on everything. And then I would just pay them off small so largest. just based on your discipline

small so large just make sense because you'll see those rewards along the way I don't know what your income will be obviously you're going to shop for the best job hopefully I want to see you get to like 60,000 bucks 70,000 bucks 75, we can do that

we can actually start making a big dent in this I think you could be out of debt in like two years get a fully 400 of a birthday fund two and a half years you know from December so we'll call it three years for now 27 that's not a bad place to start debt-free

while also having at that point like 16,000 hours in retirement. That's okay. I'm okay with that. You're a little behind for the age of retirement at that time. That's okay because you have a compounding, you have it growing, and from there you're able to really start piling in, and it's good. You just have to sacrifice for now.

Focus on cashpoint for school and saving up $3,200 for a one-month emergency fund. Then get, you know, whatever job you want for your degree, try to shoot for that higher income, obviously. and then just start paying off the debt, small so large, just get the six-month emergency fund. So that's what I would do. And I think you could do it in like three years-ish, depending what you get for jobs.

You might have to be working second jobs for a while as well. quicker you can pay off the debt, the quicker everything is. You have a lot of justifications. You have a lot of excuses, and you've used that to make a lot of bad decisions. That's in your past now. This gets cleaned, and you get a good life,

if you sacrifice now and actually choose to make these next few years really count. If you decide to live the way you've been living, it doesn't matter if you get a higher payer job. It doesn't matter what happens. You're going to be in debt through your 30s, so your 40s, you're not going to have much of retirement to your name. And who knows what the first social security is going to look like by the time of retire

or what that retirement age might even be like. It'll be like mid-80s or something crazy. So that's what I think. We'll walk with you along the way. We're going to get you all the education. You reach out to us as much as you want to for help. You can do follow-ups as many times as you, want in person or virtual it's completely up to you okay so we'll walk with you but you got to you need to put

in the work now you need to put in the work and you need a budget and sit down and look at our monthly basis hammer financial score you gave yourself as a two out of ten you obviously overspent your budget so it's a zero out of ten debt no collection something bad i do get a big hit when we're borrowing from family it's really not good it's risky it's this you know it just gets complicated it gets messy so I'm going to bring your debt score to a two out of ten because again it's not like the worst debt in the world that's pretty bad actually one out of ten mergers is fun there's nothing zero ten retirement

because you're not going to allow that I wonder if they sold everything though again you sold it okay so you probably can't get out of it for your age it's going to be a two hundred ten real estate zero out of ten hammer financial score rounding up because I don't run down

One out of ten, make sure to check out all the resources. Link in the description below is they are what I used or would use in specific situations, including the best budgeting course and best investing course where you get $100 in cash gift coupons from me to you. Thanks to Mumu. Now stick around for the post show. I guess my life is about to suck in the post show, so we're going to figure it out. Check that out in the link in the description below. Today on the Financial Audit Post Show.

Red Hot Reaper Chip Challenge, Carolina Reaper and Trunitinidad Scorpion. Absolutely. Liquid. On fire. Lava. My heart is like legit. Me too. That's okay.

This is a good content. Here we go. They're both turning red. Caleb, do you want to talk about the new real estate that you're looking at? No. Guys, it's right and link. Right over there. Do it with me.

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