Financial Audit - Nasty Karen Hates Me | Financial Audit

Episode Date: July 26, 2024

Check out Capitalize to consolidate your retirement accounts: https://hicapitalize.com/caleb. See site for full terms. This video is sponsored by Capitalize! ▶LIMITED TIME: 1) The best budgeting program online is now over 30% off through July 15th: https://calebhammer.com/budget 2) Get all the tools you need to reach financial freedom. My budgeting program + investing program bundle is also 30% off through July 15th: https://calebhammer.com/bundle Any questions? Email [e-mail] ▶The best budgeting program online, at the most affordable price: https://go.calebhammer.com ▶Watch the Financial Audit Post Show: https://www.youtube.com/channel/UCLe_q9axMaeTbjN0hy1Z9xA/join _______________________ ▶Resources I use/would use (with discounts/sign-up bonuses): 1) Checking & Savings: Get up to 4.60% APY, pay no account fees, and earn up to $250 when you sign up and set up direct deposits. Terms apply: https://creator.sofi.com/c/5535481/2068695/19219?adcampaignid=bank&adnetwork=brand *affiliate link 2) Get $20 from Acorns for free: sign up to get your bonus https://acorns.com/caleb 3) Click this link https://j.moomoo.com/Caleb to get up to 15 free stocks from moomoo U.S when you make a qualified deposit + earn 5.1% on uninvested cash + an additional 3% APY Coupon for 3 months for new users!! Terms & Conditions Apply 4.) CourseCareers: Land a high-paying job with no experience or degree by going through an affordable online course: https://coursecareers.com/a/calebhammer 5) The credit building debit card: First 100,000 people to sign up for Fizz with code: HAMMER10 get $10: https://www.joinfizz.com/caleb (paid ad) 6) Helium Mobile: save a ton on your phone bill, sign up and get 30 days of FREE trial when using promo code CALEB https://hellohelium.com/ 7) Online security: Protect your online privacy and security NOW and for free by following my link Aura: https://aura.com/hammer Learn more about your ad choices. Visit megaphone.fm/adchoices

To watch episodes of Financial Audit a week earlier, check us out on YouTube. This is some of the worst debt I've ever seen in my life. You make so much money, you can't even survive. I also have to pay the IRS because I owe taxes. I also have a grand piano, and a grand piano does not live in a studio apartment. Get rid of it. I don't give it. Yeah, I do give a shit.

It's not going well, obvious, Sierra, I wouldn't be talking to you. You are in so much debt. I know. Hear yourself sing. Beautiful voice. I'm Lydia. I'm 40 years old. I live in Austin and this is financial audit.

What do you do here in Austin for a living? I'm an advanced practice nurse. I work in Jerry Syke. Very cool. We've had quite a few nurses on the show. Love that. My mom's a nurse. I'm a fan.

Great, great, good. You can't be that bad. Well, well, we'll see. But what do you make? 132,000 before bonuses. Damn. So this is why you thought you could get a nice car. Okay.

I mean, I had just gotten a bonus. I asked for a 6% raise last year. And did they give it? And they gave me a 15% raise. It doesn't really make sense, but. And so I, at the time, I was living in a house for six years. Everything was stable. And so I felt like it was, it just fell in my lap, essentially.

So what about the bonus? What's coming in there? No, it's always the people that make the most that somehow get trapped. themselves the most yeah what what's your bonus um it's based on productivity so i get a little i get a percentage of what i bill each month i get like 30 so it's based on how much work i do so the 8,053 that hit your account was that including any bonuses no that's every month when are the bonuses normally hit uh every six months so i'm due for my my so months January through June i get in July and July through December I get in December.

And what did you get your last bonus? The end of, it's usually around 5,000 each. Okay. Well, I mean, that's still great. In terms of your income already being huge, it doesn't move the needle in a like crazy direction, but it is still obviously a substantial amount. It's probably with like,

because my mom is an accountant. She's a CPA. She does my taxes. And so it's every year it's basically maybe like 142. Gotcha. I make. So because you bring an $8,000 a month, you decided you wanted 20% of it to go towards a car. Yeah? At the time. Well, your retirement isn't huge for 40. No. No. At the time, so when I bought the car that I did, there is a reason. I was already looking. I was already looking into three different kinds of cars. I, I love Ford.

I'm a Ford. We're a Ford family. I had a Ford Edge. Why is their loyalty to a car brand for a family? It's what we've always... Why don't we just get the car we can afford? At that time, Ford was affordable. I mean, Ford is not affordable now.

And for the customer service that it was, I was tired of being dicked around, essentially. I know there's something wrong with my car. I take it to them, and they take three weeks to figure it out. and I was tired of being, they were incompetent. Okay. And so I wanted to buy a car that had good customer service. And so I researched a lot.

And I was just, I just happened to go to the Porsche dealership. And the car that I got is pre-owned. It's not a brand new one. So I'll spend $1,500 a month and I used car. Okay. Sure. Well, customer service is excellent. And, um,

it was only 20,000 more than what I paid for the edge. That doesn't mean the edge was a good choice either, though. I've never paid 20,000 hours a month for customer service before. Yeah, you're right. It's an interesting customer service bill. True. Do we put 20% aside on a monthly basis when usually we save retirement for last? Well, you know, let's just go there.

Do we do that when this IRA here is, sitting at $12,000. $12,000 and we put $15,500 a month towards a car, towards a car. Yeah. In what world does that make sense? I mean, it didn't. $18,000 a year. Do you have retirement outside of this IRA?

No. My employer gives me, they match it. You're where I'd want someone to be at like 26, 27. Yeah. How in your mind are you possibly justifying such a big customer service? Customer service? I know. So we're going to not retire because of customer service.

I also wanted it. You what? I also wanted it. Well, yeah. I mean, I hope so. I hope you didn't get a car. I hope you were like, I hate this. Let me get this.

Of course. Do you want to retire? Yeah. Oh, okay. Well, that was a very unconfident. Yeah. I mean, at some point, yes. I will retire.

You will? How are you getting there? drink now math is not mathin. Yeah, I understand. And they're going to have to push the retirement age for social security and everything like that for full benefits. I doubt I'll get Social Security. Why? I'm not very hopeful the way this government is going.

Okay, so then let's pretend that. So now what's your plan? Well, yeah, good point. You know, you're in an insane mountain of debt. You've lived your life by debt. Like debt should be tattooed. across your back or something because this, you are in so much debt. Yeah.

And we have, for your age, not great retirement. Yeah. When did you get the Porsche? April of 2023. Okay. A little over a year ago. Yep. And I will say, I did not create all this debt.

I inherited some of it. What do you mean inherited? Like I took over some of my mothers. Credit card debt? Mm-hmm. We have the same name. And so a lot of times... Yeah, but were you on it?

Yes. Oh, you were on the credit. Yeah. Well, that's, okay, that's not inheriting. You took it on by being... But I took it on, and I did not know that there was so much when I started making more of my own money. Why were you on her debt? Why are you authorized users and stuff?

Yeah, we, I mean, she built my credit from when I was in high school. We started building my credit. When did your mother? pass? She did not. My dad did. My mom is still alive. So you're just helping her? I'm helping her. When did you start helping her? About 10 years ago. Okay. Well, that just makes no sense. I mean, let me just call that out immediately. This first card and a lot of these cards are basically maxed out. So if we've been helping for 10 years, we've helped about a dollar a month. I feel like I'm drowning. I do feel like- Where's the help? You say for 10 years, where's the 10 years gone?

Right, but what happens is I pay more than the minimum payment every month. And there for a while, I was giving them $1,000 a month and I was paying it down. And then when my dad died, we just had a lot of extra stuff. And then the cards went back up. When did he pass away? 10 years ago. Okay. Okay.

So what I'm saying is right now, and this is partly why I wanted to come on, is because I know that something's got to change. And what happens right now is I pay all my bills, but then at the end of the month, I need to go to the grocery store, and then I end up using a card to go to the grocery store or something like that. And so... What's your rent? Do you rent?

Yes. What's your rent? 2495. Oh, do you have... Are you the only one there? I'm the only one there. My mom comes and stays with me about a week or two every month, so she has her own room. Why the fuck do you rent so expensive for someone that lives alone?

Austin, freaking Texas. No, no, no, no. There's rent for 900 bucks in Austin, Texas. You're not going to live in a thrilling place. Why is your rent 2400? I also have a grand piano, and a grand piano does not live in a studio apartment. Get rid of it. I don't give a shit.

Yeah, I do give a shit. It's not easy. What's that easy? That was a gift my dad gave my mom. On their wedding. Can it be in her place? No, she lives in a one-bedroom house on a ranch with my brother. Okay, get a storage unit.

No, I play it. She plays it. Play it in the storage unit. So because... It's easy for you to say that, but what I'm saying is there is sentiment... Sentimental value attached to this. We've already made it... I've already had a discussion with my mom to sell the piano.

It kills my soul to sell that piano. But you're going to sell it? I've already had... I've looked into it, but it's too old, they said. I can respect sentimental, but you just said that after everything is paid, your groceries have to be put on debt. And I can see immediately, because of the sentimental piano, the space that it needs, you're spending minimum an extra 1,000 hours a month than you need for a place to live for yourself.

Correct. Noah, what's your rent? He's 1356. He lives in Austin. Jake, what's your rent? $2,200 with his fiancé, two of them living together plus a roommate that will be joining. It's just you. It's you and a piano. It's me and my mom. I take care of my mom when she's here. Yeah, when she comes, which is...

Right, which is when she has doctor's appointments and she stays for a month at a time. I can't do that with a roommate. Did you know that changing jobs every two years is one of the best way to boost your salary? Giving you more money to save for retirement? So many people totally forget about their old 401ks or don't want to deal with a rollover. I've been there. Death by paperwork and endless phone calls. Well, thanks to today's sponsor, Capitalize.

you can roll over those pesky accounts in a breeze. Capitalized as a Caleb Hammer approved concierge's platform that finds and transfers your old 401ks into an IRA of your choice. And make the whole process smoother than a fresh jar of Skippy. Rolling over your 401K is crucial to consolidate your retirement savings, take control of your investments, and get clear visibility into your fees. But let's be real.

Dealing with old employers and lost checks in the mail is a headache. So here's how capitalized, works. First, they help you find your old 401k. Then you open or connect an IRA of your choice. Finally, Capitalize handles the rest and you can start in just a few minutes, saving you time and ensuring you peace of mind. There's no time to start like the present. So check out my link in the description below to roll over a 401k for free today. You wish I had told you this sooner, so remember to check out Capitalize to consolidate your retirement accounts. But you decided to get a Porsche. Yeah.

I did. And you can't pay for groceries? I think that's self-inflicted. That's you. Yeah. That's you making a choice because of a want that you wanted. So self-assessed, where do you think you are? Zero to 10, your finances ranked, your overall financial situation, zero being the absolute

worst anywhere, 10 being the absolute best I could be fined in the history of ever. Where are you? Probably a three. It's optimistic for someone who can't buy groceries. But if you watch your hammer financial score, get it for free. link in the description below can also apply to be on the show if you have a grand piano that i want to set on fire that would make good content apply at calebamber.com slash apply i don't want to trust yours on fire sentimental but also how much could you sell for i was hoping 15

grand grand but the guy told me that there's not a market for grand pianos right now there's not he's got a bunch in a showroom and they're not selling. So he's like it says, it's like a market. So I'll call back in six months, but I don't want to do it. Storage unit, dude, aced, temperature controlled. And then that's another bill. And that's another bill. Yeah, but if you're saving a thousand on rent, I think we can afford a hundred on a storage.

God. If you're not willing to change anything, there's no point. I've already... What are we doing? Yeah All right Let's go through your debt We have a Capital One

Venture card maxed out Been trying to pay it for 10 years Maxed out You didn't tell me how It was paid off It wasn't Then what happened Then my dad died

And 10 years ago though And I'm very sorry about that But 10 years ago So that's you know $1,200 a year And then trying to take care of my mom My family lives in Germany So we were trying to go there

For Christmas every year it's what it is it is what it is okay when did that stop when we would determine like okay that doesn't make sense for us financially well we're not going this year but they're coming so last year was your last

so you did this last year we go every year at Christmas yes okay so since Christmas why is only $200 paid off then when the minimum monthly payment is $434. Now sure, it accrues $287 of interest. Yeah. So it's basically, I'm giving

them $500 a month and it's really only hitting $300. Can you answer my question though? Why it's only $200 since December? Because it's been used. I mean, my dogs come at my, my dog, uh, pet, what is it? You know you're making an insane amount of money, right? I do know that. Yes. And like I said, every bit of it goes to something. $14,700, $79.10. That's an insane amount of money. And we owe $434. All right. Everything does go to something. Including 5% of your money or $400. 5% of your spending are $400 went to going out to eat. Yeah. And I think that that could be better. Yeah. I'd say it's about $400 too much.

So we already established that $4,000 came in. How much went out? Spending, debt increasing. What went out? Of what? Everything. Your entire finances. How much went out?

How much left? Left my bank account. Left everything. Well, you just said $400 to eating? $400 went to going out to eat. Uh-huh. $4,000 came in, right? Or $8,000 came in, sorry.

How much went out? Oh, all of it, but $300. I have probably about $300. at the end of the month. 8,22 went out. Yeah. So more. Yeah.

Would you like to know an other reason why? Or would you like to know the main reason why the credit card is not paid off since December? Because I keep using it. $323 of purchases. What is the point? The credit card balance went up on this. Went up on this by $10, even though you made a $600 payment, which is over the minimum payment. But you paid over the minimum of the payment.

It doesn't even matter because you went and purchased $3.23 and then $287.87% of interest. The crew would bring it to $14,779 on a $15,000 credit limit. What are we doing? What was it? I know what that was. What was it? I was with my friends and her daughter had a birthday. And they all pierced their ears and I pierced mine too.

Incorrect. Amazon, Amazon, Amazon, three Amazon's. Yeah. $69, $1, $1,000. Yeah. And Banfield Pet Clinic, but that one's okay. Yeah, Bantield is the insurance, yes. I wouldn't put it on a credit card.

That was supposed to be the only thing that's on there kind of helping it. I was told to. Helping it. Yeah, so you have, you pay off your credit card and then you have something. Well, how's that going? Yeah, it's not going well, obviously, or I wouldn't be talking to you. Then obviously it shouldn't be on there. Yeah.

So why is it still on there? Banfield. Yeah. Not a checking account. Okay. What, but okay. And I like patent insurance. Trust me.

Some people are against that, but it's personally saved me thousands of dollars. So I'm not against that. Well, on a credit card that we can't pay off and it's a green interest and the balance is only going up and it's almost at the credit card limit. You're right. I should move that to the, to my time. What do we get on Amazon? Things here and there. Should you pull up the app?

Should we take a little picky? Well, I share it with my mom. So it's sometimes. Sometimes she, I took all my stuff off of the Amazon app because sometimes if her, they go to the next payment. Like so she's paying for stuff for her. And then if she doesn't have enough in her checking account at the time because she didn't get Social Security or something, it goes to the next one. And I told her it's got to stop because I didn't want to get it out of my checking account. So I took myself off of Amazon.

But it's little things here and there, like a baby shower gift or, or. or hosting something or um oh yeah that's how it works it is and i have not been on amazon in so all three of these were her i have not been on amazon in the last month or two uh you told her stopped she didn't stop after those i told her just i took my stuff off so be honest with me how much of this 15 000 hours is your mom versus you um so the way our family works is like when we go on a trip, I pay for us. And so I know. But it's mostly mine.

I mean, I will say it's mine. It's from, I mean, I will take ownership of it. Why are you paying for everyone's trip? It's just for me and mom, just for us. Like our airfare or whenever we, it's, what's mine is hers and what's hers is mine. It's like we're, I know, but it's. How old is she?

76. Okay. How's her retirement? She sold her business. She had her own business and she sold it. Oh, how'd that go? I mean, she cared more about the person taking over and having an opportunity for her that she didn't sell it for as much as she could have. Okay.

Is she aware that she's going into debt for you? She's aware that it's ironic because she knows money. She's an accountant. She's a CPA. Yeah, I've heard those on this show. My growing up, it was like I could hear her say it's only money. So it's only money. And that I...

That's an dangerous mindset. It's a not a, it's not a healthy mindset. It's, but it's not a bad mindset either. But when I grew up... Look at where it has landed us. Exactly. And that's where we are now because, at the end of the day, when I was a kid, if we needed it, we got it.

And that was, they were in better shape than when my older brothers were kids. And so it was just a different mindset for them when they raised us. Trust me, I've had them on the show multiple times. Accountant does not mean knowing personal finances. I mean, I love accountants, course careers offers an accounting certification now. Absolutely love it. Accounting's a great thing to go into. It does not mean they know personal finances.

is this is sitting at... Wait a second. Now it's saying the balance subject to interest rate is $15,027. What's happening? Wait a second. What are we doing? It's a 23.24% interest. Yep.

Okay. Visa. USAA visa signature. It's the lower interest rate, which is... I've been trying to pay that one off, but using lower... More purchases. Trying to pay something off

does not equal more purchases. You say you know, but why is it happening then? If I know I'm doing something bad that I'm trying to stop doing to get myself out of a situation, like, I'm doing it wrong.

Yeah. This is Euphoria Calvin Klein, the new elixir collection, featuring three perfume intense scents, inspired by a unique orchid accord, paired with vanilla, each with its own distinct attitude, each with its own universe.

Bold elixir. Sensual, woody, addictive, magnetic elixir, sweet and romantic like a lingering touch. Solar elixir, a radiant expression of joy. Ultra concentrated for amplified impact and lasting power. Find your euphoria. Discover the euphoria elixir collection by Calvin Klein. So why are you doing it? Why are you continuing this madness?

Why? I'm telling you. Is this her too? No. Okay. The USAA has been... Yeah. That's not an answer.

I mean, what do you want me to say, Caleb? I don't know why. Why? I tell you... Yes, why are you spending on it? There's things that I felt at the time that I needed. What did you need? This year, I think I put my gym membership on that one.

No, no, no. What are you doing? What are you spending on here right now that you needed? What are you getting? What are you looking at? USAA. Yeah, but when? Because I haven't used them in a while.

It's your, it's, you sent the most recent statement. Mm-hmm. So, it's your most recent statement. Mm-hmm. In June. Oh, sure. Mm-hmm. Yep.

It was three days into July. So what did you need? You say you'll, you use it for the things you need. What did you need? At the end of the month, I told you this already. At the end of the month, when I don't have anything left in my checking account, can I see? Oh, one second. It's a little secret.

I'll let you see. What'd you need? Something. Yeah. You needed it, right? I guess. Yeah. Starbucks.

What the fuck are we doing? Yeah. So let's go into more debt for some Starbys? Is that even pumpkin spice-less season yet? Yeah, I don't like pumpkin spice. But I will say something happened. My Apple Pay used to be on a different card. I know.

And I'm telling you this. So you should still buy Starbucks, even if it's on a different card? Do you know how much credit card of debt you have? Yes, I do. How much? A lot. That was not a good number. I have a lot.

I know I do. And I'm telling you this. I know coming in, I spend, I can change spending on food and coffee. Why haven't you then? What's different? I don't. What is different now? You walk away from here.

How is that different? Something changed when, I mean, I'm here. I get that, but I can't excuse that. I can't excuse that. I can't excuse. Because people walking here all in time. time they're going to say I I change I'm changing my spending I changed it in the last week things like that doesn't make any sense yeah that doesn't make any sense I have you this is you on paper your finances

but you're looking at one thing to two two and it used to be more so that means this is okay it does I'm not saying it's okay but then what was that trying to excuse then that it it has cut I've I've I've spent less uh-huh but just still still I know I know No, but I'm just saying that we have to start somewhere. Do you want a high five? No. Because this is still horrendous. I know.

Okay. You don't have to keep saying that it is. Yes, I do. You don't. I know that it is. Okay. Usually when people know things, they then would change it. Yeah.

But you haven't. So maybe I do need to keep saying it. Okay, keep saying it. Okay. Trust me, I will. It's my show girl. Hear yourself sing. Hmm?

Hear yourself sing. Beautiful voice. So a really exciting thing that you guys should be thinking about is we now have all these extra things with our YouTube membership program. You can sign up for our post show. We talk about extra drama

for the episode that we didn't have a chance to dive into. Why would I want more than one stripper? I don't want one stripper. You don't fucking. You just touch them. Why would I want to do that again? Because it's fun.

Is that? And it's awesome. You're good. Oh, fuck, bro. How is Caleb as a lover? I would give a solid nine. Wow! How do you get to a nine?

I just don't know how to answer that because, I mean, I just do. I just do. For the upper tier memberships. All the people from the crew from over there, they come together, they make a crew cast and they talk about the behind-the-scenes content and how we do everything here. I don't want to contribute as much because I'm already so much on camera. That is the greatest thing I've ever heard. Twice a month. No one I come here.

We have a live stream with you guys and we hang out with you. We answer questions. We chat it up. We talk about the show. We just have a good time. Caleb reads that book every day. I actually wake up and then I gooned that book in the Goon Stream. And then most exciting right here at this table with even more pie charts.

We have an exclusive, uncensored, ad-free financial audit episode for the top-tier members that no one else gets to see anywhere else. Consider joining me because ad rates are always up and down. We're trying to build something great here. And I wanted to make sure to provide the best content and the most content and the most. most amount of content that's ever been in a YouTube membership. Link in the description below. You're sitting at 15,400. No, no, no, no, no, no, no, no, no.

Credit limit is $15,900. You're sitting at $15,440, too, so it's a perfect time to get some surveys. 95 cents. And also donations. I mean, you donated to Act Blue. We have credit card to card debt, but we're donating. Hoping they're going to forgive your credit card debt. then that's fraud.

I didn't do that. You didn't vote to... No. And I will have to vote. But donate to the... Isn't that Democratic? No. Heck no.

Okay. Well, yeah, looking at that because that's scary. And you might have to lock your credit as well. Yeah. Interest accrued $145. And $34. Purchases $86. Makes no difference because...

I mean, you put $300 towards it, but we only went down $70. And then there was also, I don't know what this is, but favor, surid, Sedro. Yeah. It's like favor Uber Eats, DoorDash. I know. I know. She knows, but she doesn't not do it. So what can I do if you know everything?

I mean, I don't know everything, but I do know when I'm doing something wrong. but you can keep telling me my error. So every day I walk into the office, my producer over there who makes me suffer during the post show. Good. Make him suffer. I slap him in the face. I give him a big old morning slap.

Now, I know that's wrong. I can announce that wrong. What if I slap him tomorrow? What are we doing? You know, that's still wrong. If you know this is wrong, that doesn't excuse you doing it. That doesn't mean it's okay.

No, I'm not saying it's okay. I'm just saying I know where I can improve. You can slap him in the post show if you want. Okay. I don't slap. I punch. Even better. But it might not be him.

It could just be you. Why? I'm the one actually trying to do shit here. You're just saying stuff. What do you mean just saying stuff? I mean, like, you're calling you out for your bullshit. You're calling it out. I think it's very clear that you've never been called on your bulls from your language.

Here, you want to do. view this? I'm pretty sure that I've been called out my whole life. Really? Yes. Okay. So maybe that's not your... I act blue. This is my friend. She's running for city council. Okay. I didn't let you finish then.

Yeah, that was just a... Thank God it's not fraud. Yes, yes. I'm glad it's not fraud. So then you'd have to go punch the fraudster too. Yep. Okay. but I have been called out my whole life I mean I am the youngest of four brothers I have four brothers so maybe calling out is not the best

strategy for you because look where you are this is some of the worst that I've ever seen in my life you make so much money you can't even survive so I don't think being called that works for you we could just duke it out huh are we gonna fight I can't hit a woman that's what they all say well I mean you'd still probably kick my ass

but I couldn't hit a woman like Okay, this is a torrid. It's a credit card. It's like, yeah, it's a clothing store. Okay. And yes, it will be paid off in two months. Why or how or what?

Because I will pay it off. Yeah, but I asked how? With my money. Well, you said you don't have anything left over at the end of the month you think your groceries, what money? Right. You spent $300 month and you brought on this last month. What money?

At the beginning of the month, I pay on these bills. I just paid off a credit card this month. Mm-hmm. I'm going to spend that money and the money I already put towards toward to pay that off. And then I'll pay it off again. And I have a bonus coming in July. But I also have to pay the IRS because I owe taxes. I know.

Oh, good. Yeah. How much do we owe? How much do we owe the IRS? $1,300. Okay. It's the first year I've ever had to owe. So they already withhold the majority that can be withheld.

for my every month and then now I owe still. Basically, I just want to get to where I'm in a better place so that I'm not angry all the time about it. Are you angry all the time about it? Yes. So I spend, please, you spend like thousands, right? I'm boxing.

It's unlimited annual membership, yes. How much? 1900. I'm grandfathered in at the, that price. Now the same membership is 20. 900. Just go fight a dude on 6th Street or something. No, I'll go to jail. True, but then if you're in jail, you can't spend on your credit cards. Nope, they're still on auto pay. 32.24% interest rate on here. Interest charge 23. We did it. We did it. Ladies and gentlemen, we have a breakthrough. We figured out

how to not spend on a credit card. I told you, I don't spend all the time. Okay. Well, all right. One. Come on. Well, allow me to have that little celebration. Oh, good job. You're encouraging me. Thank you.

Noah said the passive aggression in this room is making his skin crawl. I don't like passive aggressive. I just like aggressive. Aggressive is what I like more. I don't like passive. You don't like passive aggressive. No. That's why all the dripping disdain I hear is just blowing my mind.

I give myself some passive aggressive absolutely But you don't think you're passive aggressive Okay I can be There's 5,221 dollars and 95 cents on a quick silver card Yeah that's the smallest one That's one I usually like to pay off with my bonus But I've been trying

That you usually like to pay off with your bonus So this is an ongoing thing So what are we doing? Why does it build all the way back up? Yeah so okay okay And I can't celebrate the last one Because if the last one's being paid off with your bonus, historically, that just means it's going to go all the way back up. How does that stick taste?

But it will. How do we know it's going to not get paid all the way back up? Well, I mean, I can tell you that I'm making a change because I'm here today, but you're not going to believe it. What can I do with that? Would you believe it? You know how many conversations I've had here? I know, but. Like, would you honestly believe that?

Be honest. Why? I believe it for myself because I have- Well, yes, but if you don't know you, I don't know you. You don't know me. No, you don't. So would you believe it? Nope, you're going to think like I'm every, like everybody else, a dumb mofo.

I don't think people are dumb mofos. Good. But look what you have. You have a discipline issue. You have a behavior. You have a tendency. You have, this is your entire financial history written in stone right in front of us. Mm-hmm.

You're literally coming on here. And now that you're being seen by. people, you're saying you're switching everything. I'm not switching everything, but I do agree I have a pattern. But I'm telling you, in the last six months to the year, the pattern has changed. You don't have evidence of what it was before, is what I'm saying. I don't know. That's also something that a lot of people say.

They say because it was worse, it's better now. Fair. I'm down to one shot of heroin today versus two. Yay, my life's great. fair. So I just got fucking me. Speaking of. We're back to it.

Oh, we're back. $458 of purchases. I mean, we put a $500 minimum with the payment towards it. But of course, the credit card balance went up by 100 bucks or so, 70 bucks. My goal, I mean, I don't know if this matters, but my goal

is to keep venture in USAA, keeping paying down and I get it it hasn't in the last few months. How many discounts does USAA auto insurance offer? Too many to say here. Multi vehicle discount. Safe driver discount. New vehicle discount. Storage discount. How many discounts will you stack up? Tap the banner or visit usa.com slash auto discounts. Restrictions apply. But the quick silver card is a smaller one and any purchases that I need. I usually try to consolidate it to that card. Have you ever budget? did legitimately.

Here's this, but... What is that? I like the overview more than the details. This I have to keep... Sometimes the details matter. I know the details matter, but I don't... I saw a calendar. No, you saw a calendar?

It's this. It looks like a account. Oh, that... Expense tracker. Okay, so, okay, we're tracking the expenses. Well, what are you doing with that? Are you using that and adjusting? Nope.

Okay, so then what's the point of tracking expenses? Yeah. All right. Just like anyone who comes on the show, go through the budgeting program. Go through the budgeting program. We worked with the experts. We created what I think, what I legitimately think is like the best educational program. I will say I've never really budgeted details.

This is what my mom's done for me. I have not opened this up to look at it until now. Okay. Yeah, I think we're not relying on mommy anymore to help. with our finances at 40. So go through our educational thing. I understand. Take the quizzes, learn it.

Yes. Yes. I also know she's not going to be alive forever. So there is an extra. I want. She's not. Sorry, I don't know. I don't know what I'm saying.

Yeah, you don't. I'm in a mood right now. Yeah, you are. Okay. Well, it's because of you. Well. You refuse to sign our paperwork for like 30 minutes. Yeah.

We're on like an hour delay right now. so okay so we're sitting at a $142 minimum fee payment right oh good went inside a store got some yeah now we got groceries okay you know I wouldn't put it on our credit card but I'm not gonna like knock at groceries yeah and our purchases on Apple or an Apple subscription will do that instant ink yeah Netflix I mean there's nothing on there anyway so it's like well nothing good Well, and that's the only sub the streaming service that I do. You pick the worst one. That's not true.

There's like peacock and stuff. Yeah. I mean, my, yeah, it doesn't matter. But I cut cable. I cut cable. I only have internet. I mean, except for football. All right.

Who are you? Or what are you? What's your team? Well, the chiefs before Taylor Swift, but also the Cowboys. I'm sorry to hear that. I know, I know. 19.8% on here. Okay.

We have a Swifty in the office. You guys can fight after the show because I think you're ready to fight everyone. It's true. City Bank. I think, oh, that's Macy's. That will be paid off by the end of the year, hopefully. Okay.

But yeah. Well, I love the plan. I mean, yeah, pay it off. But again, with where these are, What is going to prevent you from building an oath? That's my concern. Yeah. So with,

so I agree. Macy's was paid off completely for years. And then Christmas shopping. And I know, I know you're cringing. My nephews. My nephews and my niece. They're 28.

They're older nephews. I love the spoil as well. One of my love languages is gift giving. So I get it. But also like, You, gift yourself getting out of debt? Yes. And this year, I mean, it's going to be easier because we're not going to Germany.

But yeah, I just, the interest rate is going to go up on that by the end of the year, which is already the highest one. And so I know that and I need to get out of it quickly. So for the Macy's car, the Citibank, we're sitting at $4,663.33. cents. That's your car payment rent that's killing you. You could be out of debt like so quick. You have no idea, but you decided to get a stupid car and your rent's ridiculous. Yeah.

You might honestly have to choose between your rent or car. Because you've just, you're spoiling yourself and you have nothing in retirement for your age. How long have you been doing nursing? This will be my sixth year. What were you doing before that? I was, my undergrad was in architecture and I wanted to get a master. in architecture. The economy turned.

I went to nursing because I could not lose my job in nursing. Okay. And so I made that decision, became an advanced practice nurse. Well, so why do you have so little in retirement by now? I put 300, I was doing 350, 360 a month in, and then my company matches me. There would be a time, hopefully, that I can do more, but I went down to the lowest, possible each month to match the maximum so that I could have the flexibility to pay off other things.

Are you going to be able to handle the, here's the car, here's the car. This thing's insane. And we don't have the value because the bin thing that you sent didn't work. What do you mean temporary? Like it'll be done in another four years. Like that will be paid off. Well, yes, all debt's temporary. All debt will get paid off if you pay the minimums.

That doesn't mean this is, it's $1,500 being stolen. from you. You're gonna have you might have to choose between the car and the place. Yeah. Let's play hypothetical. Gun to your head. You're inside of an elementary school. What would you pick a the car or your rent? I take the gun and shoot the guy. You probably would, but if you had to pick one like legitimately, which one would you choose? Rent. Okay. So you can keep the the piano. No, I would choose the rent to

To get rid of Yeah So you would have to get rid of the piano Right Or put it in a storage Right AC Yeah

So 6.29% Not the worst rates we see here But certainly not good Especially with depreciation and everything I mean you're definitely losing value on this But USA has a good Interest I mean they have a good deal

What's the good deal That it's a lower interest rate Everyone was getting rates like this or better when you got this car. That wasn't a USAA thing. So you seem to have these interesting loyalties to companies and you're going to just allow them to do whatever. I know that the dealership cannot beat it. Well, no, dealerships.

No, they're, no, uh-uh. Loans the dealership, unless they have like a zero percent thing for some deal or something. Like, yeah. So it's, wow, 1450 a month. That's crazy. Yeah, that's a good deal. It's a great deal.

What do you think this car is worth? Have you looked? Can you text Noah the VPN photo so that we can get the value on this car? Done. Is that it? Cool. So he'll run that. What do you think the value of the car is?

What do you think it is? I mean, I don't think it depreciates as much as other cars. I mean, I bought it for 89. And I don't know, I've never looked into... What do you think it is, though? Like how much it would be worth now if I sold it. Yeah, if you sold it, private sale. Maybe I could get $90,000 for it.

Okay, she thinks it's worth $90. Let us find out. Great. Prove me wrong. Oh, my, what are these are student loans? Oh, my, like, 7%. Oh, my death. We're sitting at $93,000 to student loans.

Yep. Oh, fuck me. Yep. It's the reason why I have the job that I have now. But if I don't have any other debt but student loans, I would be sitting much better, obviously. You probably don't qualify for any, like, lower payment plans. Oh, well. What are you in?

Are you working in the public sector? So I applied to have, I work in a not, what's the, you can get your student loans forgiven if you work in a. Oh, lower income area? Lower income area, but also like a popular, like a marginalized population. Okay. Do you know what I mean? What's the program called? I don't know.

I, like rural hospitals. Like you can do stuff like that. Yeah. And when I first applied to a job in like rural Iowa, not Iowa, Illinois, not Illinois, where's Indiana? And that. Gary. Well, that was, it applied if I had gotten that job there because it was a mental health. It doesn't even matter.

So it's not what you're doing now. No. But what I'm doing now, it is still, I mean, it's older population, mental health. Have you confirmed this that it qualifies under the plan? It does not qualify because it's private practice. Okay. Well, there we go. So what is your, what's your minimum monthly payment on these? 330 something. It used to be 670. Okay. So what did you do? Did you expand the payment period? Well, no. I tried calling them and I said I can't, like,

I don't have this to allotted to this. Is it, because the student loans just came back into being paid like this last November or something. And so I tried calling them. I was on the phone for an hour and a half. No one picked up. I couldn't chat with anyone online. And everything is a scam now that I didn't want to just call, like have anyone call me back. Anyway, no one called.

I just said, I'm just going to stop paying it. I'm not going to pay it. And someone will call me. They did. Oh. They called me and they had the lower, they did it automatically. Well, you were lucky because if you were doing this starting, like now, they would be garnishing your wages. You had a year grace period.

Yeah. It just bothers me that they don't have the flexibility to actually provide good help for you. And then they just take, again, just take your money. You make $142,000 a year after bonuses. Yes. No offense. I don't think you're the one that needs the extra help. No, I know.

But also, I'm not going to worry about the student loans when I'm going to be, I know I'm going to pay on them forever. I mean, if you're on the traditional payment plan, it would be 10 years. Remember, temporary, like the car. Yes, if that was the only thing I was paying. Right. Yeah. Instead, we decided to go into a bunch of credit card debt and stay there because we keep spending it. And even when we pay it off with our bonuses, we build it all the way back up again, which means we might do that again.

So who knows. In our checking account, we have $252, $257. You Venmo out like crazy. Who are you Venmoing? So the Venmo is like I meet with a small group on once a week. And I help we all chip in for the meal. We share dinner. And so Venmo out weekly for that.

If I go out with friends and then they pay for the bill, we all Venmo in. So we work Venmo a lot. Gotcha. Venmo, Venmo, Venmo. Yep. Venmo, Venmo, Venmo, Venmo. Nails. Let's see those. Let's see those things.

Nope. Oh, the other ones. Yeah, let's not see those things. Nope. George. They were, that was in the beginning of June. That was when I was in Dallas with Friends. George Cafe, Pizza Hut, Burgers, Peaerries, Einstein's, Bagel Bros.

Coffee, B'Neu Coffee. Cabob. Venmo, Venmo, Venmo, Venmo. The Austin Stone, Black Space. Coffee, kebob, Sonic. Venmo, Venmo. you never really know what that is. El Chile Cafe.

Porsche. Porsche. Porsche. What did you get? Like a vending machine in Porsche or something? Einstein Bros. Rudy's country. That is some barbecue.

Venmo, Venmo, Venmo, Venmo. So it's also probably going out to eat. Which, by the way, now we can incorporate that until you're going out to eat is probably more like $500 a month, 550, maybe $600. Einstein bagels, Venmo, Venmo, Venmo. And you thought your car was worth $90,000, right? I'm guessing it's not.

you owe 65 on it you could probably sell it for 64 64 65 so you're actually not underwater and if you are it's not dramatic yeah which is good because you probably put a chunky down um i not not a big chunk okay but you've been paying our for a bit yeah a year saving 629 yeah i i i'd like to save more out but i'd like you too as well um it's only getting every customer's order right. It's only a point of sale system connected by Spectrum fiber-powered business internet, helping you track hundreds of secure transactions. And it's all backed by 24-7 U.S.-based customer support and local technicians. It's only everything. Get business internet advantage free forever when you get four mobile lines from Spectrum. Visit Spectrum.com slash free for life to find out how.

Restrictions apply. Service is not available in all areas. I will say that... and send Einstein bros. I used to give more to my church in the beginning. And then when I, I reduced that significantly because I wanted to save the money to pay for the IRS, to pay the IRS.

Yeah, you got to pay the IRS first. So hopefully, I mean, my goal would be to be able to give more. Yeah, you can give anywhere. Usually the best way to give, though. You'll give more over the long term. If you dedicate 100% right now to getting an honest. of debt and having a fully funded emergency fund. Once you get that, you can contribute 20%, 25% to retirement, people have a larger amount to give over a long period of time. And that, that's my

goal. I want to be able to steward better and be more generous. But you're eating out every day. So you're not getting towards that goal. And if eating out every day is better than it was six months ago, like, what are we doing? No, I mean, it's... What are some other goals you're trying to do? other goals besides getting out of debt so i mean buying a house is okay that's a big one and that's that's that's kind of what's awakened uh let me look at this a little bit more carefully okay buying a house when um my lease ends next july and so the idea would be a year from now yep oh a year from now if it's not the right time it's not the right time but i let lease like to it in a better position.

Well, I mean, trust me, I would love for people to buy before the rates start going down. I don't think they're going to go down quickly unless something crazy happens. But either way, that doesn't mean it's the right time for you. Next July. What price range are you looking? I got a pre-approval if I were to buy tomorrow. You got a pre-approval.

Man, this economic system is wild. Okay. You literally can't pay your bills, but okay. No, if I were to, I'm not doing it, but if I were to, I'm not doing it, but if I were to, to buy tomorrow, he said, that I would be pre-approved for $4.450. Yeah. If you were out of debt with your income, you could do better. Yeah.

And I agree. And that's my goal. And depending on Austin, $400,000 is kind of a basic starter home. Yeah. One of my editors who's been here the longest is getting a house right around that price. Yeah. Yeah. And it's very much a starter home.

Yeah. Because, you know, it's his starter home. Right. I guess this would be yours. well but you know yeah but I also would rather not have a huge commute to work and all of that oh well I guess that's okay then I mean you know trying to get picky about it I mean I it's icing on the cake it's not an ingredient so let's talk about or we'll get your budget but so you said you'd rather get rid of the apartment

than the car condo yeah and we'll see how much money you have last Leftover or don't have leftover here and we'll go through the budget in a bit. 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. Your lease is up in July of next year. So you just resigned? I signed a two-year lease last year. I will say what part of why I'm in... What kind of Porsche, by the way?

A 21 McCann. Turbo. Why do you need a pork? I don't need it. Then it looks like you can break even on it, selling it. That's a huge debt to weigh off off. Massive minimum. How much is your insurance on it?

Three something. Okay. So, I mean, we'd save money on that probably too. Because expensive cars, more sporty cars, they're more expensive. Yeah, because it used to be like 150 and I think it went up to two. I'm going to my head. Sure. You can do it.

Get rid of the Porsche today, dude. Seriously, just put it up somewhere. Someone's going to be like getting all hot and bothered seeing a Porsche on there. They're going to buy it, you know? And then what do I drive? You get a $10,000 car. You get a loan for that. But you're paying off a $10,000 loan at a higher interest rate probably,

but you're paying that off quick because we're going to put it in your debt payoff strategy. But that's paying off $10,000 instead of $65,000. That is also going to bring your minimum monthly payment down to like $400 from $400. $1,400. Imagine if we had an actual $1,000 a month to start throwing at this stuff. Your goal is to get a house. Your goals to get death-free. Your goals have a fully funded emergency fund and give more. I want to get to you to those goals. So let's get to those goals. How do we get to the goals? We have to sacrifice some of our wants right now. And right now, this car is very much a want. You do not need this. This is not necessary for a daily commute. Who gives a shit? You can make a lot of money.

Your income is only going to go up from here because, trust me, people aren't getting healthier. So you can get this car or a better car in a couple years. What do you care about more? Getting a house or keeping the car? I mean, I care about getting a house. Then let's get rid of this thing, dude. I don't think it needs to be a part of our life right now. I really don't.

I'm sure it's great. I'm sure it's fun. What's a zero to 60? Do you know? It's 3.4 seconds. That's pretty okay. So, yeah, what's fun? It has sport mode and sport plus.

Wow. and I drove it at Cota. All right. Yeah, that sounds fun. But not necessary. Not necessary, exactly. So let's get your budget. So income, we know $8,000 comes in,

and bonuses twice a year, $5,000 each, just about. Your debt minimum of payments. This is before you sell it. Let's figure that out first. Then we can see what we can save. Is that the curate coffee that we have? Mm-hmm.

Only the best at Hammer Media With a packet of hot chocolate Oh man Living and luxury Your debt minimum monthly payments Are $2,997 and $15. Then your mortgage

That's crazy Of course Half of that is the car alone And the credit cards have insane high minimum wage payment Because your debt's great I'm right now What's the I get so lost in all the documents

your total debt is your total debt is a what yeah because the suit alone is $199 yeah and none of them are at a good interest rate for what they are none of them we're at $200,000 that's that's wild what's your rent again 2495 yeah utilities on average um About 190 for 140 for water and then 250 for electricity. A little bit more in the summertime, but I try to keep my AC down. We'll say 400 then. Internet? 67.

Renters insurance? It is, I have this. Renters insurance is probably about, 300 every I pay it once a year I think renter's insurance Okay 300 divided about 12

We'll budget in 25 Gas Room drive drive About $75 Every fill up which can be once or twice a month Okay So we'll say 100 Yeah 100

Car payment, we already know that. Car insurance? Car insurance is on there. It's three. That's in with the... I don't have the car insurance. That is 276.32. Okay.

TP fund, anything else you need? It's 500 bucks. Groceries, 300 bucks. Your gym is $2,000 a year. Buy that by 12. budget in 166 for that what's your pet insurance again 65 a month but she's having she was attacked last September oh my goodness yeah it was awful and she got reimbursed for the ER visit but now I think from that attack she's having some chronic issues in her back legs she's a lab she's

only six years old and now I have her on joint supplements that are running probably $75 a month. Okay. Okay. That sucks. I'm sorry. It does. It's just too young to have issues like that. Medical for yourself.

My medical. So, I mean, my insurance is terrible. Well, that comes out before your money hits. Yes. And it used to come out. and I went back to the HMO, so I'm not paying anything extra for insurance. But my co-pays are a little bit higher. So how many co-pays a month at how much?

Specialty is $80. That's probably once every three to six months. Okay, but it's in 20. And then regular ones is 45. And that's once every six months. Oh, okay. But labs. Labs are, every time I get labs done.

I don't think insurance covers all of that. So it's probably like I'm getting these bills from CPL that's like 238 here, 32 there, 45 here. We'll do 40. Okay. Anything else that needs to be in your budget that I do not have? Terminex is once a quarter. So every three months it's $32. Okay.

I think that actually went up. Let's say $12 a month then. It's $32 a month because it's $72 a month. Yeah, because it's 70 to not, it might have just gone up. Anything else? I pay out of pocket for vision and dental. Yeah, but how much does that actually come out to on a monthly basis? $15 or $30 each.

Do you 15? Oh, each? No, 15 for vision, 34 for dental. Okay. I also have 30, I think you'll see on the Wells Fargo. it was like $34 a month for car washes. Nope, cancel. Yep.

It's not our choice. That's just silly. Same with Netflix. Watch YouTube. It's free. Okay. So come on. What are we doing here?

$7,188. And 32 cents. I mean, you have money left over. What are you talking about? At the beginning of the conversation, what are you talking about? What do you mean? But at the end of the month, I have to put $300 on a credit card for groceries.

What are you talking about? That's not math. You have an extra 800. Okay, let's just say 800. Let's round down. You have an extra $800 left on a monthly basis. So what are you talking about after your bills are paid? That doesn't make sense.

That's you going out to you. That's you having fun. That's you traveling. That's you doing all bulls. This is with the car payment or this is without? Oh, yeah. With it. So get rid of the car payment.

We have an extra $1,800 a month. Once you get the $10,000. The extra $800 a month is on purpose because $800 is what I used to give every month. So now that I'm not giving $800 a month to my church. Oh, not anymore. Well, I was putting that to the side to pay the IRS because I was saving up to do that. Which is now I was put. I mean, that would have taken them two months.

Right, exactly. And so, yeah. So now I have to figure out what to do with the $800 that I'll have left. What do you mean? Have you paid off the IRS? Well, I have the money set aside. You do? I want to.

What? So what's happening is sometimes at the end of the month if I don't have, because I hate when my bills come out at the end of the month. Okay. Student loans come out at the end of the month. And then the electricity bill, which is sometimes more than what's expected. And what happens usually is I'm pulling out of savings to cover the checking. And I don't like to do that because then it diminishes my savings.

account. But in the last two months, I've halted my giving. I've wanted 800 left over each month because two months of that. And obviously that hasn't worked because you spent $400, $500, $600, going out to eat with the Venmo's. So. And then other things as well, that was just going out to eat. The other large purchases, which accounted for a large percent of your spending, I think What was that saying? 17%? 17.9% your spending. Venmo. You've beenmoed out $502. So never mind.

You go out to eat 1,000 hours a month, including your little meeting as well. Pet Hospital. Yeah, that happens. Hotel. Part of the Venmo, too. Part of the Venmo was pay. It's not all food. Part of that was going to.

Oh, it's her phone bill. I'm on a family pay. And I'm not doing that yet. Okay. So I don't, it's one thing that I, in my, sorry what were you saying? But I would like to take that. I went to Dallas for a weekend and part of the Venmo was paying for the Airbnb, my part of the Airbnb. Okay, so you're eating out and traveling and doing all this, one time. And all it takes one time. I know.

For this, this month, one time for that next month. I know. So $800. So we haven't been saving that up. Right. when does your bonus hit they're going to pay it

July 12th okay a couple weeks cool week and a half and I'm going to send what the IRS needs right away absolutely and then figure out

okay so tell me are you getting rid of the car I mean this is your decision to make you have to tell me though because I'm going to incorporate yes or no into the plan correct answer is yes

but you know I mean it's a plan plan for that, I can take it into account. That's... It... You know, it's literally a basic sacrifice. Who gives a shit?

I know. Who gives a shit? It's a borsh. Who cares? They're nice. Wonderful. Get it. In cash in a few years. Who cares? I mean...

Are we sacrificing to get the house or not? Because even... It's the... Even when you're debt free, let's just pretend you still have the car debt and not the rest of this debt. That's still $1,500 a month that could be going towards a down payment. What are you trying to do at FHA? Don't do that. What are you trying to do?

What do you want to, how much do you want to put down on our house? As much as I can do. Okay, you know how to do that? Don't have a $1,500 car payment as much as you can. So are you getting rid of it or not? I will look at the plan based on I'm getting rid of it. Yes. What would make you not get rid of it?

I don't know. It seems like a lot to do. Welcome to the word sacrifice. Like, getting to these goals are not easy. I didn't get my first house easy. I was saving so much money instead of doing all this bull- And you're making so much more money than I did. I was just stacking money aside, though, as much as I could,

making as many sales as I could. sacrifice that's what this is you're right you know what you don't have to do it you cannot sacrifice and what happens when we don't sacrifice you just won't get to your goals or if you do you're going to get them to decades later and that's fine if that's how you want to live your life but i want you to get the house because you said you wanted to get the house yes you don't want to sell the piano i'd say that would be an instant 15k as well well you said the market's not there yet either right and you know with the minimum of the payment bringing it down is this is accruing more and more Right. If I can get to where it's only the student loans, then I can really put chunks to it.

It's a long way to go. So do I write the car off or not? I don't know. Because the reason I need to know is because that means we have an extra $1,000 a month and it means we replace the $65,000 loan with the $10,000 loan. So like, I don't know what the fuck do. Right? Anyone who wants to get out of this, they'd get rid of it. Yep. Then let's do it. Okay. There we go. Cool. So replace that car. is now 10k, $400 minimum of the payment, let's say. Take it to a mechanic, don't just get the first car, take a bunch of used cars and make the seal approval

that it's going to be safe and last you for years to come. A few years at minimum. Okay, so IRS is going to be paid off when you get your thing. You're going to have an additional $3,500-ish. Well, yeah, $3,500-ish left. What we're going to do with that is pay off the tour and throw the rest in a one-month emergency fund. actually don't put it towards the torrid throw that plus the income you get that month towards your

merchant fund you'll have close to in one month okay so that's what you're doing this month next month pay off the torrid and with the $1,800 we have left uh well a thousand we have left at that point throw that towards the city bank pay off the city bank in three months after that so that's one two, three, four, five. We just finished the fifth month. And obviously what you have left over on a monthly basis is starting to really, you know, it's already increasing pretty largely. Now we have like 2,200 to throw at things.

So you can pay off the Capital One card in three months, being conservative. I'm being conservative here just to, you know, so that. So we just finished eighth month. And we pay off the car, a new $10,000 car. You pay that off in about four months at that point. where our minimum monthly payments are. That's a year. It's a year from now.

I know a year sounds like a long time, but the grand scheme of things is nothing. I mean, this last year happened in a blink. Yeah. Now we have like $2,750 to throw towards things. Let's put it. And you're doing minimumity payments on the other cards while you're doing this.

And you are... Is it too much to assume that I could... If I... traded my car in for something cheaper. Well, okay, so trade in you're probably just not going to get as much. So you're going to have a gap that you'll need to pay. That's the thing. So then I need to give it to someone that's going to buy it.

And then would- Facebook Marketplace, Craigslist, you know? Oh, like. You're doing private sale. That's how you get the best value for money. If you trade it in, you're probably going to get it. I don't know. What?

Instead of $65,000, $60,000, maybe $57,000 for it. So you can have a gap and you're going to roll that over and do your next loan. I don't want you to do that. Well, I was thinking someone could buy it for $70,000 and then I... Sure. If you get it for that. I mean, most people look at what it's worth these days. You know, no one's going to...

On private sale, maybe you'll get a sucker, but I wouldn't rely on that. Okay. And the venture would be pay off in five months. Same with U.S. signature. So we have our student loans left only. That would be. ideal. That's a year in 10 months. Yeah. A year in 10 months. conservatively, if you don't

wrong with your money. Nope. Okay. Gosh, but the student loans are bad rates. Do we get her house with those student loans? I don't think so. I wouldn't. Because those student loans are, there's what, 7, 80%, like I think we'll let the extra $3,500,

no, no, no, $4,000 we have left now because you've just, your minimum of the payments are just horrendous. Wait a second. Let me confirm that. If I'm, but won't those roll over to where I'm putting $4,000 a month? Exactly. So, well, exactly. So instead of getting a home or a fully funded emergency fund in a year and 10 months,

with the $4,000 you have left over on a monthly basis now, honestly throwing that towards the student loans. And this one's going to take a while. And I have a hard time seeing you do this. That takes two years. But I still would do it because it is so bad. You're not getting them forgiven. Nothing.

No. And the interest is accruing. I've given up on them being forgiven. I think if you do this in the smartest way, it takes four years from now, four and a half years, no, no, no, four years and a quarter to pay off all debt and have a fully funded emergency fund. That's what I think. And then from there, I would start putting 20% away minimum for retirement and then take from, because your needs don't have to be 50% for your income once you're debt free and you have a fully funded emergency fund.

I'd take 10% from your 50% needs, so 40% towards your needs, 10% from your 30% fund, and throw those extra two combined 10% to a 20% set aside on a monthly basis for a home-down payment fund. And I'd look to try to get into a home by our mid-to-up upper 40s. I know this all sounds so far down the road, it's because it is, but it's because you put yourself in such a big fault. It's all my fault. Yeah. But now you get to get out of it, and only you can do that.

You can go through bankruptcy. No. Yeah. And that wouldn't even affect half of the loans anyway being student. So it's a rough situation. Tommy, what do you think? Are you actually going to do that? Four years?

Four years of not even spending money on fun to get there. Like, you could do five years and spend a little money on fun, but, I mean, you're just pushing your ultimate goal down the road. So what do you think? I mean, if my rent doesn't change where it is now, I could renew my lease for another year, maybe do another two-year lease, and then that... Preferably, again, you can have your piano for the rest of the life. If it's in a storage place for two years, while you lower your rent by a thousand hours, I mean... So then you would want me to move... You can get fully out of debt in three years instead of four, maybe. Well, okay, so if we're talking about...

moving. Next July. Then it's, the cost of moving is a lot. It was $10,000. Okay, well, that's you being a little silly goose. Well, it's a special person. For the piano? For the piano.

And then it's, uh, the, I mean, for me, it was $2,500 up front. And then another $2,500 for. So that's already $5,000 plus. She moved it into an apartment for $10,000. What are we doing? What are we doing? what are we doing but also I mean I have a lot of the stuff

that my mom would lead like she gave the thing and I guess if I'm getting a storage unit then there you go or sell it or burn it I'll burn you the moving thing let's look at resources when that time comes a year from now year for now because I can't say I've never investigated moving a piano well and and the thing

the thing is is you know when I moved last year was unexpected and so it was everything was okay. It was much better last year this time than it was than it is now. Because I had to use a lot of, I just had to use a lot to move. And then my rent almost doubled from where I was paying. Yeah, we need to get your rent situation under control.

Okay. So you're spending in a budget. That score, you spent over your budget. So zero out of ten. you can fix that tomorrow if you really want to, but zero out of ten right now based on what we have. Debt, you have IRS debt, zero out of ten, sorry. I mean, it would be a low score anyway with those student loans.

It's crazy. Emergency fund, you set aside a little, but it's going to the IRS, one out of ten. Retirement, you're behind for your age. Three out of ten. Real estate, not there yet. Zero, ten. It's going to be a hammer financial score rounding up

because I don't round down on those unless someone pisses me off, and you didn't piss me off. That's going to be a one out of ten. Make sure to stick around for the post show. Make sure to check out all the links in the description below. Is there what I use or would use in specific situations, different resources like the best budgeting program in the history of the internet? And the best investing program in the history of the internet

where I give you $100 towards your investing account thanks to MoMo. Today on the Financial Audit Post Show. There's a reason I don't sit and complain. It's if I do that, all of a sudden, everyone starts to complain. The couple days that I... If you knew the shit that I actually have to deal with, fucking stressful shit that you do not see to make this place actually hum. You have no idea.

I do know the thing too. No, you don't. You don't. He's still complaining. Yes, Lydia. Oh, man. To watch the financial audit post show, click the join button below.