Financial Audit - I Can't Believe She Showed Up Like This

Episode Date: January 22, 2024

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I'm Mama Jane. I'm 26. I'm from San Antonio and this is my mental audit. Mama Jane up from San Antonio. What do we do for a living down there? I am a part-time student and an entrepreneur. Okay. What are we entrepreneurial? I do CBD retail. Retail. So are you in like a store? Do you own a store? I do online and pop-up events. Pop-up events, okay. Yes. So like people are walking to a music festival and you have a little tent.

Yes. Sometimes I put on my own events too and they, and they, just purchased from there. Okay. What do you typically selling is like infused stuff? Most of my product is flour or smokeable products. But I do sell a lot of infused products as well, cartridges, edibles. So you're more of a middle, man, right? Yeah. Where are you receiving yours from? It depends. I try to source from local people. Okay. From local retailers here in the area, as well. So yeah, I just kind of host the events and sell the products. I thought you worked for the city because I have here what looked like income from the city. I used to work for the city, actually. My partner still currently works for the city.

When did you drop? I dropped maybe 2019 right before COVID. What is this? Oh, so this is his. I'm looking at his income. Yes. Okay. So it's kind of a couple thing, but you're going to be here talking on behalf. Okay. Is he camera shy, a little nervous? He works in the political realm, so we were just kind of a little bit more conscious. Interesting. So how is it for a politician to be married in Texas to CBD dealing? It's an interesting dynamic, but we keep it pretty, you know, separate.

But, you know, it works. What do you bring it in? What are you bringing in? bringing in about 400 a month. 400,000. Oh, no, sorry. No, just $400. Not K, $400.

I do about one event per month. One event brings me roughly anywhere for, excuse me, anywhere from $300 to $400. Are we sure you have a business? Yes. That's about what I bring in from home. I try to keep most of my finances separate. So if I'm taking from my business, I'm taking about $400.

How much is in the business? And the business right now is probably like $6 to $700. Okay. But we try to keep it separate. I do not want to be offensive. I just want to be straight up and honest when it comes to the overall world of business. Sounds like a hobby. Yeah.

Right now. Yeah. I have a lot of stuff going on. I'm a student. I have two kids. student. And you stopped working for the city, 2019, so that was quite a while ago. Now how long have you been trying to build this? Maybe about a year, a year and a half or so.

Just kind of doing it part-time whenever I'm not working on schoolwork or with the boys. Where are you going to school? Strayer. What do you study? Business administration. Great. Are you full-time? Part-time. Okay.

How much have you completed? How much more do we have left? almost 68%. I have about less in two years. How long is it going to take? I should be done by the end of this year. I believe. Really? I believe so. So the majority was last year? I do quarters. Yeah. And that's part time. Completing it in two years? So you have a lot of credits you transferred? Yes, I did transfer a lot of credits. Cool. What are we trying to do with that degree? Make the business successful. That focus on the business. You're not hiring yourself, though. No, I'm not hiring myself. But it's just, I know that.

In order to make the business successful, I need funds and because my credit and stuff like that. A degree is not going to increase your credit. No, but it's going to increase my chances for a job. So you want to get a job? Well, I, yes, to fund my business. Why did you quit the city? Because COVID happened. I was pregnant at the time.

No, you quit in 19. Well, I quit a 19 to pursue a political campaign. So you, like, ran for city council or something? Oh, no. I helped. I was doing the back end stuff. the person running for city council or for the council position okay you got paid for that yes campaign was done then what campaign was done and then i stayed home with a baby oh yeah so was this uh the first birth then

first one okay so how old are your kids right now um first one is going to be he's going to be four this year and second one is going to be two this year wonderful cool so i mean you're certainly juggling a lot i'm just trying to get like an overall picture of where you're at. So full-time mama, part-time school, hobby business. Hobby business. What are you trying to do with your... Right now with my career. I'm trying to just break the stigma. With your degree. Oh, with my degree. Stigma, what's stigma? The cannabis stigma with moms and things like that. So we do a lot

of advocacy events and things. That's... Well, guess I'm not a part of the community enough to know that there's a stigma against moms smoking something. There is, there is somewhat of a stigma, especially in the, who's caring? CPS. Oh, okay. Lots of other people care. Legally care. So, but besides that, I do, like, just the events. That's okay. What do you want to do with your degree? With my degree, it's pretty much just a backup plan, honestly just A degree is not a backup plan. Why?

Why is this the same conversation I've had within seven days? Or someone saying they're getting a degree for a backup plan. It's not a backup plan. You're spending years and years and years and money and money doing this. Are you cash full in college? What does that mean? Are you paying for college? No.

It's not a backup. You're going to the death or backup. We don't go to death or backup. If we're going to go into death or something, we're going into it as the primary thing. It's an investment into it. You don't invest in a backup unless it's like a backup. battery for your computer or something in case the power goes. This is Euphoria Calvin Klein, the new elixir collection, featuring three perfume

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If you're doing a backup, get like a certification. I do tech certifications through course careers. I talk about trade schools and stuff like that. Going to getting a degree as a backup, I love degrees. Get them. Great. That's like we're going. We're pursuing it because that is what we plan to use in a career field that we are

pursuing. We're not spending all this time and all this money, which is debt for a backup that we probably won't use. Very true. But it might come in handy while I run the CBD business. Guys, it's a new year and you need to make your money work for you. You can do exactly what I literally do right now and put my money in the best high yield savings account. So far. I get a 4.6% yield on my money.

and I also took advantage of the bonus of up to $250 when I signed up. You can start 2024 off amazing by doing the same by going to the link in the description below. So the education itself. Yes. You know, there's this great free resource out there called YouTube. And a lot of business owners and stuff, they put a lot of their just education and knowledge online. Now, I'm not saying that replaces a degree. It doesn't.

In terms of the degree is often what gets people in a door. In terms of education, man, there's so many good, just free resources out there. even if you just like pay for one of the courses online do that teaches you about basics and running businessman, instead of taking all the gen ads that you're never going to use, instead of borrowing all the money that is going to be a pain in the payback, it's different. I'm not saying you won't gain any knowledge from that, not even close, but there's a lot of extra steps that you're just not going to take advantage of,

or we could just be focusing on learning in a free or paid way online. Very true. Very true. I feel like I started it. So now if I don't finish it. There's a lot of pride stuff that come with that. I mean, I've heard that from a lot of people. And it's not unfair.

I get it. I get it. But I just try to real world things. I'm like, oh, this isn't actually going to benefit me, even though I'm like halfway through it. Okay, I'm going to actually go do what benefits me instead of waste my time and put off what's benefiting me. you have a point it's just you're right maybe it is pride

and you're going to complete it this year you mean by like the end of this year by the end of this year beginning of next year so that's still a long time that's still an entire year yeah um i mean i'm still i'm it's not like i'm against it by any means like uh as just a concept and you know if you want to finish it out finish it out but when we're trying to get to a certain goal man

we have all these different things you're doing instead of just focusing up and trying to pursue the goal completely. It's harder to achieve that goal when our hands are in so many different pots. That's what concerns me, especially when we're borrowing money to put our hands in those pots.

Okay. So obviously we're living off the husband's income. Yes. Okay. Which gross. Was this last year's gross? This is, I think. If I'm not mistaken, the last 60 days.

68,000 gross over the course of what? It doesn't say. Oh. Okay. Either way, what's his pay period? His pay period is every two weeks. He gets $6,500 a month. Okay.

So, yes, well, more than that for his gross. But after withholdings and all the goodies and all the funds that don't really have a choice in, net pay per paycheck, $3,100. 124, yeah. Now, not like there would be much to pay, but are you paying taxes in your business? Not with his paycheck. I don't know. Are you paying taxes? Oh, yes. I'm paying taxes on my business. 300 comes in a month? About. So total household income would be $6,548.

Not too shabber in terms of when you're slightly above the median U.S. household income. How do we feel living on that? How's life going? It should be going a lot better, I feel like, but we're just not getting our stuff together as much as we should. And I take full responsibility. I'm not as educated. Why, is it just you? No, he's really good at the finances, but I'm not really good at keeping up with the finances. So how does that relationship work in the finances?

That if he's really good, you're not good. Is there not conversations, education? We do have conversations, but I, you know, I don't know. the education is there. He can only teach me so much. What does that mean? Like, Why are you incapable of what I mean? No, I'm not incapable of what I mean. You're in school. You better not be. I would hope not. But, um, no, just we sometimes finances gets heavy when we're talking to a partner. So we try to keep it civil. That makes sense. That makes sense. I get it. I wish he was here for this conversation. Yeah, me too. Um, but I'm

he's watching. I'll approach it in a way like I am also discussing with him, even though we won't be able to hear his side. But just, you know, what I think across the board. So yeah. Loz, we went to Loos and got a credit card, a classic synchrony. So we're just financing a home repair. What were we doing? Yeah, we had bought our first home.

So that's when we initially got our card. When did you get that home? In 2020. When did you borrow this initially? Initially in like 2020. I held the balance for almost like over three years. No, we paid it off and then we had an emergency expense that we needed an AC in it. Home ownership's not cheap.

Yeah. It's not cheap. You didn't have an emergency fund. We did, but we had the card and we thought we'd pay it off within the six months. That's why did you not pay it off? That's where I lack. knowledge. I don't ask the right questions. So we don't know why he did not pay it off? No, I don't know why. Is it still within the interest free period? Do you know I don't have the full

statement? I don't think it's in the interest free period anymore. Or I think it's like, yeah, it's either that because it just happened recently like this summer. So if not, it's probably about to, yeah. It ends next month. It ends in less than a month from now. Okay. So this needs to be taken care of immediately. $30 minimum monthly payment is not going to get you there because there's a balance of $376,025. But it ends on the eighth of next month. Okay. We will take care of that.

Don't your big boy pants on if this episode comes up before then. Pay it off. She'll tell you to pay it off. Yes. When you get home. Immediately. In the car, I'll tell them. Oh, he's here?

No, I'll give him a call. Oh, okay. Capital one. Lovely little. Class, everyone always has a Capital One on the show. It's a classic. Yeah. Previous balance, $293 inches is accruing.

What is this? What is this? Whose card is this? Is this both their cards? Which one is it? It's the Capital One card. I think we have two capital. Platinum.

I think we have two platinum cards. Whose card has a balance of $326? That one would be mine. Why aren't you paying? There's a late fee. you're not paying. Why aren't you paying? Does he know you're not paying? No, no. He doesn't. It typically comes out of, it's on auto pay, but I saw it's not. If it's on auto pay, there's no late fees because you pay automatically. Well, there's no funds in that card anymore. Oh, and the checking account it's attached to? Yeah. So.

Why? Why? Why is there, one, no money in there. And two, if there's no money in there, why have when we switched it to something else? Are you guys the finance separate? Maybe. for the most part they're together but we both have like we don't have a joint bank account why we just haven't got around to it why irresponsibility

and every monthly payments normally like 30 bucks on here probably but you owe 61 bucks because you're you're late yes so it tried to hit your account you didn't have money in your account so it went away well you guys don't need separate checking accounts you can you can but obviously we lack discipline

and we obviously lack communication around it. So it doesn't make sense. We should have everything in your guys' situation combined, sit down on a monthly basis basis, and go over what has happened. Not to start arguments and push a blame in terms of, oh, why is you spending those money? It's not about that. Go over what happened last month.

Where do we want to be next month in order to hit our overall goals and adjust from there? I just didn't. I didn't think about it. We do not miss minimum monthly payments, dude. That's not a thing. That's not total total fees is here so far. $174.

What is that? Probably. Seven missed payments within a year. Within 12 months, you've missed seven of them? Probably. Why? Why are you not taking care of your shit, dude? I always forget about it.

I don't have a reminder. Why is there never money in your checking account? I use cash at mostly. Why? If that's clearly not working, why? It works for me. It's not. No, it doesn't. No, it doesn't. Not for the payments. It doesn't.

So it doesn't work for you. Okay. Well, at the time it was working for me. What? What time? Seven. Seven. Seven. Seven over the course of a year. That's a lot of a responsibility. That's okay. Cool. You acknowledge it. So awesome. You acknowledge it. Why haven't you changed anything? You know you're irresponsible. So why haven't realized I'm a big girl? I didn't realize it was seven times.

Dude, if it's one, that's when we realized. I should have changed it after the first time. You're not excused if you just sit back and say, yeah, it was your responsibility. I don't say, oh, okay, handshake, get out of here. You're good to go. That's not how this is going to work. I don't, I'm not going to let someone skate flying like that. Come on, you've watched this show.

Yeah. Why do you think you're being irresponsible? I'm just trying to get in your mindset. I know that's always a hard question. But just like if you just think about you, how your actions are going, okay, everyone makes a mistake. A miss payment, still hate it. But if it happened, we're like, miss payment. Wow.

I'm going to change my life and never do this again. But instead, we did seven. You've recognized you're irresponsible. Why have you not cared enough to become mature enough to change that at some point in your life? I didn't think about the interest it was accruing. I just thought it was a mispayment. I didn't think about all the fees. And I didn't.

Do not care? No, I do care. No, it doesn't look like I care, but I do care. Tell me what do you hope to get on this conversation. I'm hoping to figure out what the, where we need to do, like to move forward, where we need to go. I can tell you what you need to do, but man, for someone who misses seven payments in 12 months, I could tell you what you need to do all day. Will you do it?

Man, I don't know. I don't know. Yeah, no, for sure. If he knew, I'm sure we wouldn't have this conversation. Yeah, I'm pretty sure. I'm pretty sure he knows. What's he going to think? Oh, he's going to be so upset.

And how's that going to go? How's that conversation going to go? What's going to happen? You know your relationship. It might go bad, but he'd be patient, I think, and be like, okay, well, let's just fix it. And then move forward. You guys need to be joint on this, man. Yeah.

This is to be a team goal path forward. Well, this is my way of, like, taking forth that team effort and, like, trying to step up. No, I mean, you're brave as being here, but I'm not going to let things slide you. Oh, I know. PayPal credit. That's not me. I don't know PayPal credit. Is him?

Yeah. So he's not the responsible one. So what is this? Where's my hope? It is gone. It is pulled from me, ripped from my existence because he's losing interest. And someone that's losing interest, let me talk to you. Let me talk to you because you're watching this and you're not here.

Guess what? If you have a balance, you're only making the minimum monthly payments and you're losing interest. You are not. purchasing $106. You're not. You brought your balance from $691 to $774. You are not the responsible one husband. I wish he was here, but clearly not.

Clearly not. At least he's making his payments. Step in the right direction. But this is hard. I think he needs to be here. This is upsetting to see because this whole conversation, I was like, okay, cool. We have a, we have a financial finance and knowledge.

person in the relationship that can help educate and see the other ship. What is this? You can make enough money to pay off $691. If you need to and you need to. $41 minimum payment. What do you think of this? Did you know this existed? I knew it existed.

I just did not know how much. Collections. What's in collections? I think a hospital bill or two hospital bills are in collections. On when? 2019, I think. Okay. How much was it?

Oh, well, 1,402. And I'm sorry you went through whatever medical thing you did. Why was this not paid? I lost the card and then I lost, or then I got a new phone. What card? Is that one not on a card? Or is that on a collection? You said it was medical bills.

Why was it not paid? I'm just trying to get some context. Oh, no. This one's from a credit one bank. So we have more collections. Yeah, more collections. Okay, why was that not paid? This one was not paid because I lost a Credit One app and never got back in.

So I stopped making the payment. What the actual? I'm sorry, I don't want to be mean to you. But all we do is we push download forgot password. Oh, yeah, no. I completely, I didn't have the card. I didn't have anything. You request a new card.

This is not very complicated. Do we Google Credit One customer support? I hate Credit One. If anyone deserves not to get paid back, it's you Credit One. I thought it was Capital One for the longest time. That's how they get people. It shows up in the mail and it looks like Capital One. We're like, oh, Capital One.

And we send up for like the most predatory credit card. It's terrible. Trust me. So. It's not excusing you for not paying. No, it's not excuse me. Not excuse you for not calling a number that you Google very easily. I thought I was trying to get my Capital One credit card re-inceded.

And it was not that one. So I solved the problem for, the $300 credit card that I had lost that had the $300 debt, but not for this one. We have a car. Yeah, I moved to Apple Pay. We have a car. We have a car. What is it?

20-21. 21-hundred accord? Yes. What's the interest here on this thing? I don't think it's too bad. I think it's under six. Okay. You sure?

100% sure. I'm not 100% sure, but I know it's not that. bad. Well, 20,000 hours is pretty bad for someone who brings in $50 a month. $500 a month. $500 or $500? Anywhere between like $2 to $400. Yeah, that's a lot of car for that. So imagine if there's a divorce. We'd never encourage it. We'd never want it to happen. But what would you do? With a 400, yeah, you're bringing $400 or $200 a month or whatever it was and this is $407 a month. Wait, this is a lease. they're both leases both where's the other one i don't have another one give me one um the other one is

this it's four hundred dollars but there's seven payments left on that one so but they're both there's four on this one four payments left mm-hmm the other one has seven payments what are you going to do in four months um the other one we're going to buy it i believe which one which no no okay i'm on the i'm on the i'm on the pha um the honda on the honda on the honda i I think we're going to trade it in for something cheaper. I mean, you're returning it. Returning it for something cheaper. Another cheaper leave.

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Is it a car purchase? Okay, what's the other car? 21 Equinox. How much is remaining on that? Seven payments and they're $400. What I'm going to do when that's done? I think we're buying that one. How much is it? What's the purchase price going to be? Why didn't you send me the statement?

I thought I did. I have the statement on my phone. of you'd like to look at it. Yeah. Do it. What you're doing? Then I'm going to take a look at your... Purchase amount is $21,000. $20,000?

Mm-hmm. Oh, yeah, we have a total collection of $8,740. Oh, my gosh. Those, I know, are medical bills. And why did you not pay those? At the time, I think I was still, like, living at home, not a lot of money. I just went to, like, if you were living at home, why didn't you make money? I don't know.

They're pretty old. like 2018, I think. 20. No, if you were living at home, why wasn't the extra money going to this? Oh, I was irresponsible back then. I didn't think I had to pay that. You didn't think you had to pay that? No, because I thought my dad took care of my insurance and, like, my medical bills,

but that was not happening. What the fuck is going on? So these are your student loans and his student loans, huh? You're both in public student loan forgiveness? Just him. I haven't started my... Yeah. Oh, I only have. Well, it's wrong. That's a husband. So I only have his. Mm-hmm. Where's yours? Mine. Um, are yours the 44,451? What kind of student loans are those?

I think they're just a generic 70-me ones. Sally Mae? I think so. Sally May? I could be wrong. Pull up your credit. Pull up your credit karma right now. Generic Sally May. Like, that's just a normal thing. Well, that's the one I always hear about. So I always Yeah, something to avoid. Gosh, I feel like I'm being mean to you, but just, I just, ah, you're past due. He's past due. He's past due. He's past due. He's the responsible one.

He's past due. He should be here right now. He's past due. You have to make 100 and, what is it, 120 consecutive payments in order to get this forgiveness that he's trying to do, but he's past due. He's not making the consecutive payments.

And he's at, Wait, I think, I don't want to excuse it, but I think that's like his job's problem. His job pays for the thing. Even if it does, even if it does its past due, and he's lost all progress in any kind of forgiveness. Yeah, he needs to figure that out. Yeah, because he has $88,000 in student loans. If I'm just bailing, bailing on forgiveness of $88,000, I'm not just bailing on that. that's not something we're just like brushing off dude that's not something we're not taking seriously

you know i honestly isn't that against you you're a very lovely person but i thought this was actually going to be a relatively chill go through the debt do a budget you know financial audit classic type but man the hidden under the under the fucking rug type we got going on here is insanity you know his student loans and then both of your student loans together $10,000 less than your mortgage, your mortgage. And we're just, we're essentially, because we're not, like, allowing ourselves to be responsible for one hour a month to look at this stuff. You're essentially allowing a balance like your mortgage to not be forgiven.

That much. Double your house. Kalamazoo is a lovely place. I swear, not everyone from Kalamazoo is so angry. Your credit scores. 575. Are you on the mortgage? No.

Yeah. I wouldn't think so. Credit card use is 108%. Payment history is 95%. There's a derogatory mark. No, it's federal student loans. Thank everything. Okay.

Thank everything. If they were selling me, they were private student loans, and I wouldn't have been surprised if the interest rates were like 10, 12, 15%. Those are probably like five. Yeah, I don't think they're too bad. Well, I wouldn't say they're good. Well, they're not the greatest. And that's why I dig into people because everyone comes on the

show it's like this isn't great but it's both not bad either it's pretty good because the day that I woke up and realized just how mad how understood for the first time of my life how bad the debt was that's when I got my gear so that's why I want to make very clear just how bad this is that's why I dig in no I'm ready income base repayment what are you doing for your student loans I'm still in school so I'm not they are deferred that makes sense yeah yeah wait you are you're borrowing more aren't you're gonna you're gonna it's gonna get worse It's going to kill worse. Yeah, probably.

Unless I drop out, then I just pay them back sooner, I think. $154,902 mortgage, $1,368. Including, yep. Okay, this includes insurance, property taxes, all those good stuff. So $1,368.89 on a monthly basis. Amazing, 3.4% interest rate. Thank you. Incredible.

You're welcome. It's not on your credit, but you're welcome. I know. It's unheard of. Got a house. I guess we had to go get solar panels. It was the right thing to do. Environmentally. Cool. Congratulations. You can afford it. This is $27,383 that you owe. Yeah.

And you guys are late on multiple accounts. So right thing to do for the world, maybe. For your lives. Not even close. $27,383.25. 3% interest rate. And normally I would. not actually worry about this, I'd be like, oh, you know, okay, if this was your only debt, you know, we had a mortgage on top of it.

In Texas, in the San Antonio area, it's going to pay itself off in a while, like a decade or so. So at least, you know, this in your overall financial picture, where everything else is, where all the other debt is, this is adding a substantial amount of money into the overall pile that is starting to get out of control immensely. Yeah, the student loans definitely kind of push it over the edge, I think. Well, I was talking about the solar. Oh.

Well, yes, I mean, all together, it doesn't matter. Individually speaking, it could be any of them that are pushing them off at the edge. But we're not making minimum monthly payments on some accounts. So we just can't have any debts. You're not a debt people. $3.68 cents in your cash app. We have Apple Bill, some tequitos, Pete's house, tequitos, shotgun house, roasters, tequitos, tequitos, tequitos, scooters, coffee, cookie cutters, chick-fil-a, Starbucks,

Marshalls. Well, cookie-cutters is for the boys. What? What is. Which one? Their haircuts. Cookie-cutters, his haircuts. Starbucks.

They're so young. Why don't you just like, go to the sink? That's dad. I try. Okay. Dad, won't let me touch their hair. They have- Dad, you can't even pay your own bills. They have furles.

They have, like, really nice hair. It's, they need to. get it taking care of. Listen, I'm not opposed to that. Some people out there are going to be like, Caleb thinks that your parents have to cut their kids hair. You're missing payments. You're missing payments. You don't have enough in this account to make your payments. Yeah. So like people that like, they don't need to go out in public because they're not school age yet. I'm just like, buzz cut at this point. I don't even give it. We're just trying to survive. Like if we're in survival mode we're sacrificing. Certainly sacrificing Starbucks and McDonald's and Panda Express. Mama Jones,

Botanica, we go there all the time. No, that's, um, I have cash sometimes, so I have to transfer. That's you? That is you. Mama Jones. That's right. This episode is brought to you by Ultima Replenisher. Health is all about balance, like a salad with fries. So why not have balance in your hydration? With six essential electrolytes and no junk, Ultima provides balanced hydration you can enjoy every day. That means no sugar, calories, or carbs, and it's not loaded with sodium. Just delicious plant-based flavors you'll actually look forward to drinking. Shop Ultima on Amazon or in store at Target and Whole Foods Market.

Summer Moon, Conva, Sonic, Spotify, we can listen to ads while we're trying to, we can't even afford to f*** with Amazon, Starbucks, Apple Bill, and a ring subscription. Great. And here's your account with No. money in it. A withdrawal $4,026 was rejected. Fantastic. Well, we also went to Waterburger. Is this him? What is that one? So if I. Says him? No, that's me too. Okay, so I don't have his checking account. So I don't have a full picture. I thought you did have his checking account. Did I look at his checking account? Did I not send it to you? If I didn't look at it right now,

you did not. $79 bounce in here. Sonic Drive-Thru, Wing Daddy Sauce House, Starbucks, Michaels, Hot box, tequitos, deposit from savings, $800. We have $1,200 in savings, but we started with $2,000, so we're draining it just to make things continue to exist. What is this? Something with this. Is this a health, is this a medical bill? Oh, no, this is the school.

This is how much we pay a week. What the, oh, daycare, daycare. For a school, yeah. Take care, right? Well, Montessori School. Is he going to go to public school when he becomes age to go to kindergarten? potty trained we might look at cheaper options but guys can afford this i want you to be able to do this if you want to i'm just going pure math regardless of whoever's beliefs or wants pure math we're missing

payments we can't afford this now if it is that doesn't even make sense i was going to say if we're making more money by putting them in somewhere you know hanging out while mama jones goes out It makes a kind of money. Okay, you're paying for it, but you're making $200. Yeah. So, no, I'd rather you stay home. Well, I'm looking for jobs to supplement. How long have you been looking for jobs?

For a while now. Okay. For a while now. So you're clearly not taking any job then. No, I'm applying for a lot of jobs. I have an interview coming up. I have... How many jobs do you apply to on a week for a week?

Anywhere between 10 to 15? No, those are rookie numbers. We've got to get those numbers up. Okay. Yeah. Okay. 10 and 15 a day. If we're really looking for a job,

we're applying to jobs like it's a full-time job. And you'll accept anything. You'll accept McDonald's for a couple months while you're waiting for the better job. You will accept anything. Money that comes in. $200 is not going to do it. And we're missing payments. Not going to do it.

Got you. 42% of the income goes to housing, which is too much. Transportation 9.8. Also, for two cars. I'll accept. Going out to eat 6%. That's 6%. That's 6% that could be going to debt.

Only 0.6% went to paying off debt, by the way. 0.6%. Of the large purchases, 36%. Takeda type 2.6%. Let's see those other large purchases. The hotbox, cash app and out. Amazon rent auto purchase. What's that?

For textbooks, right? I think so. And then Montessori School, which is a lot. It's $1,000 a month. It is. So that's $1,000 a month. You guys are renting. You got mortgage.

We also rent. What? What possibly? Our house, we have a house that's being rented out and it's paid for. We had to move. What do you mean paid for? There's no mortgage? No, well, we're not paying for it.

It's being paid for by the renter. Are you cash flowing? Is there anything extra on top of the mortgage? Okay, so it's flat breaking even. Why? Why are we even doing that? Um, we had to move to San Marcos in January of last year and then for a job opportunity. And then we immediately moved back in San Marcos again.

San Marcos. I love that. I've never heard it pronounce like that. Thank you. So it's such a cooler city name. San Marcos. So much cooler. I can't do that because if I did that, someone would call me a racist out there if I try to pronounce it like that.

Yeah. Because it's the internet. But sounds the, what? That city just got elevated. 10 points by that pronunciation. Thank you. Well, yeah, so we moved out there. And then, like, six months later,

had to move back, but the house is still being occupied. So we have to. So what's your rent? Our rent is 22. Okay. Let me get these minimum monthly debt payments of what should be. So when's his lease up, or the person's lease up that's renting?

I think we're giving them until December. And when's your lease up? Our lease is up in June. Well, so we're paying for two places for a half a year. They're still guaranteed to stay there. So what are you going to do come June? We're looking to either. You're going to have to month to month somewhere.

Month to month or move somewhere cheaper. Month to month. Do month month month to month because once that person's out, I want you back in that house. I do not want there to be an overlap. Okay. Uh, food. We're going to do $900 a month. Only groceries.

Toil paper. This is extra things we need to live. You know, diapers, all the stuff to the house. And it would do 250. Toil paper and, you know, toothpaste, all the good stuff. Okay, monastery, a thousand. You're probably contracted, aren't you? Um, no, we're not.

You can drop anytime? We can technically drop anytime. But the reason I'm looking for another job is to put the second baby in Montessori. How much? Any utilities in the Internet? Utilities and Internet. I know we pay anywhere from like 70 to 90 in water. And I don't know the light bill off the time.

Oh, come on. Yeah. I put a sworn everything was in there. Oh, actually, I do have a list of all the expenses. I'm going to take a look. We're both dramatically behind retirement, by the way. He has 4,500. I have no idea what you have.

Besides the thousand, it's... You guys are dramatically behind retirement. You can't be all your bills. It's such a small list. Hey, someone liked your story. Okay. What's his home repair thing? I'm not too sure what that one is.

Does it need to be in the budget, apparently? Maybe not. Oh, my gosh. Okay, 55 for spectrum. Okay. Xbox Live is canceled. That's not a thing. You guys are affirming things.

Stop. Renters Insurance 11. I think we paid off a firm. We shouldn't have a firm on there anymore. Okay. Well, I do not see any utilities. I'm going to guess it's going to be an extra 200 total across everything. So 255.

Okay. Car insurance. No, Renters Insurance and car. How is car insurance not in here? Do you guys have car insurance? Yes, we do have car insurance. This is not a spreadsheet. If you guys do not have everything in the spreadsheet, there's no point of this.

go through our budgeting program and then do our budget and review that we're going to gift you for free link in the description below to that and it will just we'll all detailly look into your hours and hours and hours and we'll give you a complete rundown and just how everything what's your car insurance um our car insurance is probably like a hundred bucks or so not for both of you uh for both of the cars yes phone bills um 2 10 gas I'd say is Room, boom gas. 40 a week. So maybe 80 a week for both of us. Jeez. Long communes? Yeah.

My sitter. My mom is on the south. And we're on the north. She's the sitter? Does she work? She sits for one of them. Her work is loving our family. So even, okay, if we take his money,

oh, yeah, mostly his income. and add the rent that's coming in to negate one of the budget. I know it's another interruption, but you can get $5,000 by listening to the end of this. Right now, if you transfer your portfolio to Moomu, which I personally use for my individual stock picks, you can get up to $5,000. It's literally free money and an amazing investment platform. It's what I personally use, so check it out in the description below. I highly recommend it.

We're negative $6. You guys are not making enough money. So the actual solution is you need to go get another job. You need to, first of all, follow this budget to a T. And I'm sure there's more stuff in life. I couldn't tell. You kind of go through our program and then do the budget and review and we'll actually find it.

But you probably need to bring, you need to bring in probably an extra $2,000, $2,500 a month. Because then we can pay off these cards, some of them within a month, multiple cards within a month. So we need to just pay it off. We just need to go make more income. come and start paying this crap off, negotiate the collections. The cars are interesting because you have a few more payments than we've got to figure out what we're doing with the cars.

You want to buy a $20,000 car, so you're probably going to borrow against that. And then I doubt his car is great if he's missing payments. And maybe it was good at some point, but... It's better than mine, but it's... Well, almost everyone's great as far as better than nearest. That's fair. But, yeah. But if we started taking these cards and actually paying them...

I'm off to make your payments on time, by the way. Your credit source is going to go up dramatically. I think so. I have hope. It will. But in order to do that, I need you to bring in $2,000 a month, minimum. So you need to go make some funny. Yeah.

If your friends want to support mamajanspotanica.com. All right. $2,600. If you work $15 an hour for 40 hours a week, it's $2,600 a month. Okay. $15. $10 an hour at week. Yeah.

So all I'm saying is I know you could get a job at McDonald's for $15 an hour in San Antonio. Yeah. So that's not the dream job. That's not what we want to do. But go get that today because they're hiring people for late night crap. And it sucks. It's not going to be fun. You're going to be away from the family.

But we're sacrificing for the family and for the kids' future so that by the time a lot of their core memories are formed, it's not mom and dad, you know, having to worry about debt. mom and dad live in that life that they've always dreamed of living and contributing to their future so that by the way they're not morally responsible to take care of you guys when you're oldest can't work anymore and social security might not be around so yeah so i would do this and then i'd also apply to other jobs like it's a full-time job so you can get the job that you prefer and hopefully with more money as well but this after taxes which won't be that much and you might put the botanical side on just on the side until we take care of a debt Because the debt, having all the debt while doing school, while having a business while trying to take care of kids, it's adding such a massive risk profile to your overall situation that just doesn't make sense in this business hobby ownership situation that you're in. Once we're out of debt, go all in on it.

I'm all about it because he makes a good income. You guys, with his income alone or above the median household income, and you're able to take more risk. Right now, the risk profiles is so high because of all the debt and the minimum monthly payments that you've locked yourself into. In fact, you said once you go get this job, you're going to put him in monastery school as well. So that's going to be a thousand hours taken away from this.

So that's only going to give you like an extra thousand hours a month. A thousand hours a month on top of all the shit not paying off the debt. It's going to take years and years and years and years and years. So this is really, we need to start making sacrifices. I take both out, try to look for different public options that maybe he didn't advantage through his position. Get them in public schools immediately. put them, transfer them to the programs you want when you can afford it.

You're missing payments on its tightest budget I could come up with, which is probably missing a couple things because this is like we do a loosey-goosey and then we form it more constructively after the show. You're negative, what was it, negative $4, $9, $6? We can't afford it. We can't afford what we want. Very negative. I know.

But the solution is if you actually sacrifice, you have, Okay, back to the negative. Real quick. Another hard part about this is you guys have to be on the same page. If he's not on the same page with you about this or you're not able to go with this, but he's willing to, whatever it is, or neither of you are, then we're not going to make any progress either.

So what the exciting thing is, if you guys are able to get on the same page, if you're able to sacrifice and reduce your budget to practically the basic minimums, and you just go grind and make that extra money, you can get out of this within a couple years. You could get out of this. Student loans is going to be a risky situation.

He can go for the public thing. I don't know what you're going to take advantage of, maybe some income-based thing. I'm not sure. You're in school right now, so it's deferred, but it's going to take a long time, especially if the student loans have to be paid back in full. I'm sorry, I wish it was more uplifting. You can get out of it. You can.

It just really depends what you. you do decide to do when you leave the store sometimes i can and why i thought this was going to be an audit classic because i thought i was going to give you the hey this will be done in 14 months fully fun and emergency fun after that i thought so too i'm a little bit of a surprise so it doesn't work you need to go make some money we'll do the budget review we'll do all that we'll help you along the way but right now it's just what are you willing to sacrifice and get done Any final thoughts? Any final questions?

I need to bring more income into the household in order to make the actual difference because this is not feasible. Will you? I will. I will full-time job search and put some stuff on hold in order to get this done because it's not about me. When it comes to spending in a budget, fun fact, if you're not making your minimum monthly payments, that's going to be a zero out of ten. Debt, if you're not making a minimum monthly payments and you're in collections,

a zero out of ten. Emergency fund had a thousand dollars, so, you know, ten percent there. I'll give her a one out of ten. Retirement, she has nothing. Zero out of ten. Real estate, a weird situation with the house and the renting and, you know, that overlap, it's pending computer city who knows what the tenant is even doing to the house.

So though they have a score, it's going to be on the lower side of a four out of ten, which brings them to a hammer financial score, one out of ten. Make sure to check out all the resources. is linked in the description below. They are what I use or would use in specific situations, including the best budgeting program ever made. Thanks to all of our Patreon producers for making this episode possible.

If you want to participate in an episode of Financial Audit and you're able to make it to Austin, Texas, please fill out an application in the survey linked in the description below. You can also send a link to your friends or family who you think might be good to be on the show. If you have any questions, you can email casting at calebhammer.com.