Financial Audit - Sorry Fellas, You Can't Fix Her | Financial Audit

Episode Date: January 6, 2025

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To watch episodes of financial audit a week earlier, check us out on YouTube. I am already struggling to trust you, which I do not like within 10 minutes of a conversation. I'm trying. I would think you know what that word means. I'm optimistic that things are going to get better. While being blindly optimistic leads to you getting... It's going to be their responsibility to take care of their mom because the mom wasn't responsible enough to think,

hey, maybe I should be an adult for a second. This is so funny. I can't wait to get into the next credit card. All of our education is bundled together for 15% off with a 30-day money-back guarantee. hammer.com slash bundle or click the link in the description or pin comment below. Hi, my name is Alex. I'm 33 from Georgetown, Texas, and this is financial audit. What do you do in Georgetown for a living? I am in the military. Okay. Yeah. You had to process that one for a second. Yeah.

Okay. Cool. What are you doing in the military? Just stuff. I don't, I mean, yeah. Just I'm active duty military. Gotcha. What do you mean? You know, I don't know. I think I make like six, seven thousand a month. We seem to be on a rough start so far. I'll be honest. Lots of unknowns already. Every answer begins with that. Think about it. And then no real answer. You don't know how much you make. So I, the way that I have my payments split up, they're split up into a couple different accounts. So I know like this account gets 1,500 once a month.

This one gets kind of the rest of the leftover. And then this account only gets $200. Why? Because you don't know how much is coming in because of that. So why? So I have this one for the 1500. That is it pays like my mortgage and some of the other bills. And then the 200 that pays for some kids stuff.

And then I just, I keep that account open. It's how I transfer money with my kids dad and me. Why are you complicating this so much? Why aren't you? Why doesn't your money? just go where your money needs to go. It does go where it needs to go. And then my other...

Yeah, but through a complicated system where you don't know how much you come in and you can't answer my literal second question. Oh, yeah. Uh-huh. So obviously it's over complicated. If we don't know our income... I do, mostly. That's not how that works.

What do you mean? Can you answer any question I do mostly? Like, I can't answer that. If my doctor asks how much I weigh and I'm like, I know how much it. way, mostly. Like, what? That's not going to be an acceptable. Well, I mean, like, if I want to check it up, I can check up on it. I mean, you know, check up on it before coming on financial audit? I mean, I did. Then how much do you make? I can't tell you an exact number, but I can just,

whenever I'm like looking at it. We're off to a great one so for you. Yeah, I just look, I go online. I look at the pay charts. It's all available online. What's the last time you saw it online? Uh, last week. Because I was looking at what the f*** did it say last week? I have a lady and you have kids yeah doing okay do you even but you wouldn't know if you're doing okay you don't know your money my bill i'm not surprised i have one of the highest balance credit cards i've ever seen in my life then because of this okay right yeah there's a lot of you you probably don't even know the balance i do know the balance i do this morning oh you check that but not your actual money yeah all the debts of course yeah yeah

So I had hitting from payroll 6,420. A month. 6,420 in the most recent month. Okay. So that's not about right. Sounds about right. Okay. Now, how-

6 or 7? Yeah, but you didn't know. That's the point. So how do you budget if you don't know? That's I don't budget. Okay. That's what I'm getting at. So again, are we surprised that we have the largest credit card balance?

I think I've seen on this show. No. Okay, sorry. I'm not trying to be hostile. It's like, you know, when you're pulling teeth just to get a damn answer at the beginning of the fucking now.

6,420. Right. So how are we feeling on that as a net income in Georgetown? How are we doing? Perfectly fine, actually. Which is why we have the largest credit card balance I've seen

in the history of the show. It makes sense when we get into it. Make it make sense. Make it make sense. Oh, I bought a house and I moved. I mean, I moved here less than a year ago. We buy houses when we can't afford to buy a house? I bought a house.

But you said because of buying a house is the reason why we'd be in that much credit card. That means we couldn't afford to buy the house. So the movers lost my stuff when I got here. My stuff was in storage for two years because I was overseas. Okay, so you needed a bed, pots, pans, plates, forks and a few light bulbs. That's what we need to survive. Sure. Not enough for the kids.

Sure. And some clothes. Well, don't want you going out with out socks. I need a couch. Okay. Didn't need. But I get what you're saying. I get what you're saying.

I do understand. But the thing is, if we have to rack up that much debt and spending in that situation, for certain things that are the comforts, the luxury comforts, things that I want you to have. Yeah. Probably can't afford it at that time. Now they lost it. Did you have any kind of insurance? Were you able to claim anything anywhere at all do anything?

Yeah. Okay. Go on. So the original couch that I bought, I think I bought it probably about like four or five years ago, got to use it for like a year before I went overseas for the first time. Okay. Where'd you go? I went to the Middle East. I was deployed. And then. It's very specific. Okay. Yep. And then I came to.

It's my favorite country. I know, right? And then when I got back, everything was fine. I had all my stuff. Nothing was broken. But then I was only in the States for about five months. And then I went to Korea for two years. And while I was in- North or South? Can't go to north. We got a specific one there. All right.

South Korea. I mean. Figured it out. You talk to any other person in military state Korea. They're like obviously South Korea. Well, no shit. I was just making a joke that you gave us an actual answer. Well, I mean, for the Middle East, you don't want to divulge too many details.

I was actually in like four different countries. So. Okay. It's okay. It's okay. Go on. Continue. Anyway, so when I got back here and I came to Texas, I had a bunch of broken furniture.

My couch was completely missing. And when I bought it, it was. It was, I spent like $1,800 on it a couple of years ago and then due to inflation. Like, I didn't even get. Due to inflation. Well, in, you're talking about it. What was due to inflation? I bought the couch back in like 2019, the first one.

And it was like cheaper then. And then when I went to go try and get a new one, it was not the same price. Not even like necessarily due to inflation specifically. Prices will always go up unless we're in deflationary spiral. And at that point, we're done. So it's always going to go up even if the Fed's best hope at 2% a year. So like, okay. Okay.

That's not a rant we need to go into, but go ahead. I don't think 9% made or break your life. But go for it. So, yeah, anyways, when I did my claim, the claim took like seven or eight months. I actually just got paid for it like a month or two ago. Did you pay for them on a credit card? Do you know? Pay for what?

The movers. I don't pay for the movers. Oh, who paid for the movers? Oh, yes, yes, yes. The military pays for the movers. Yeah, okay. So I tried to make the claim through the moving company. They offered me like $600.

I was like, this is silly. Absolutely not. And so I had to go through a different military claims office. And then I finally get the money and I got $900. That does suck. That does suck. So did you lose everything? The couch.

I lost the couch. The table was broken. I actually just got a table. Okay. Tell me what you actually lost then. The couch and the table. Couch table. A couple of dressers were broken for like the kids.

So. Couple dressers? Mm-hmm. They were like bent metal dressers and they got all messed up. What else did we lose? Um, you know, there's a major things. Okay. Then this is where I would end up because you told me you lost everything.

I didn't say I lost everything. What did she say? It made it sound like damn everything. Did it not? I said they lost my stuff. Oh, my stuff. My stuff. I think I said my movers lost my stuff.

I would think they lost all my fucking stuff. I'm pretty sure I said couch in the beginning, but I could be wrong. Listen, at that point, that does. not equal going into the highest credit card balance I've ever seen in the history of the show. A couch, a couple dressers, and a table. We can go to Facebook marketplace, get a couch, a couple dressers, and a table to survive. Sure. Uh-huh, exactly.

But when you live, like, two and a half years without a couch and your only place to sit is a bed, of course I'm going to get a couch immediately. Cool. From Facebook market, but from IKEA, from Amazon. What are you talking about? We could get a $500 couch. What are you doing? What are you talking about? Okay.

What kind of life? No. Okay. Okay. You're right. I don't think you agree. Oh, you do agree. I don't want to get a couch.

How much was your couch? It was $2,000 up the door. This doesn't equal $26,000 on a credit card. You are saying the way you were phrasing this. And this is why I am already struggling to trust you, which I do not like within 10 minutes of a conversation, is you were setting that whole experience of, I lost my stuff.

We found out it's only a few things. But I lost that stuff as the reason why I'm in 26,000 dollars a debt on a singular card. Sure. A $2,000 couch, a couple dressers and a table equals $26,000? Maybe if you're going fucking boogey, but you were not, as we've just learned for the price of the couch. Yeah. A response? No, I mean. A thought?

I mean, the couch obviously isn't the only reason why the credit card balance is that high. Then why were you setting it up to say the reason why is because of this? That's kind of where it started, honestly. It was like that. Wait, when did you move? You said you've only been here for a year? Yeah. So you've built it.

this up in less than a year. No, that's not true. You just said this was the start. This was so, okay. Everything you're saying is wrong. Every time you said something up, it is found out to be incorrect. Okay. There's so much more that goes on with it.

Then tell you're literally on a podcast. Right. I'm sorry, I'm not trying to be moot, but you're just saying incorrect things. You're leading me down the incorrect path constantly. So please. All right. So I, in 2020, yeah, in 2022, I sold my first house. Great year to sell.

Exactly. The market went up. I made a pretty good profit. Love it. And this is where things kind of, they were really good for a while, and then they got bad. So I sold a house. I profited $38,000. I paid off all of my debt.

All of it. I had zero debt besides the car. Kind of don't like that specifically. So it's kind of a shortcut instead of actually changing your behavior that I got you there in the first place because then you're going to get right back and. Exactly. No. Yeah. So I, since I had all my debts paid off, I had some friends who already told me like, oh, get an American express card.

They're free for military members. You know these points. Get free flights, free hotels. Cool. And I'm like, it's free because there's no, you still have the interest rate, unfortunately, but you don't have to pay the yearly like $750 membership fee. So that's, that's the free part. But a 30% interest rate is okay. No, no, absolutely not. No, I hate the interest rate. And like now that it's so high and every time I look at it, I'm like, that's a lot of interest that I'm paying and this, I feel them right now. But we're on budget. So I had still had the money. I still had money in my account. And then I flew my kids and my mom to Korea for the entire summer in 2022. And that was extremely expensive. I think flights alone were like eight grand. And then I had. Not usually something that just someone in the military could just randomly afford us.

especially since that's more than a month of your income. Yeah, no, absolutely not. It was really expensive for sure. It was really dumb. Well, yes. But at that time... How much do you spend total on that trip? Probably like all in all by the end of it because it was about like, I want to say six to seven weeks.

It was about 15 grand. It was... We're talking like... Okay. Yeah, it was honestly, it was so awful. Two and a half months of your net income. It was... Well, honestly, and back then, I wasn't even getting housing allowance.

because when you're living in Korea, you don't get housing allowance at all. And I was a lower rank and I had less years in service. Where's the story going? I ran out of savings. Why? Why? Because I was using like my income and like whatever I couldn't pay with my income. I would pull it out of the savings account.

This is why we budget. Yeah. Plus like I don't. If you were draining from your savings, you were obviously spending too much and you didn't recognize that? I mean, I. Did you have a kid at that point? How old is your kid?

Oh, your kids. How much? How old? Well, right now they're 10 and 12. Oh, okay. They've been around for a second. So somehow you're draining your savings while that was happening while the children existed on this planet.

Uh-huh. For sure. Those are choices. Okay. Those are certainly choices. I'd like to not be in this much debt. I really am. I want to get.

How much did you spend last month? geared out. I know you don't have an answer, but go ahead. How much did you spend last month? Let's try. Let's try a little best guess. Best guess, probably like $8,000. Okay. Well, I don't even know how to like take that. So again, $6,400,000 came in. You spent $6,6,643. Still more than came in, which obviously is not helping our overall debt balances go down. But why did you think you spent $8,000? Why would you be okay with spending $8,000? So for last month, like I was trying to, you know, obviously do okay, but, um, what does that mean? Well, with like spending. Like, I really have been. You were trying to do okay, but you thought you spent $2,000 more than you brought in. What are you talking about?

I don't, I mean, I was just guessing. I was guessing high and I guess too high and that's good. Yeah, but you said you were trying. So if you thought you were trying, you would think you'd spend about what you made. So if after, this is Euphoria Calvin Klein, the new elixir collection featuring three perfume, intense, 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. Trying, you thought you spent 2,000 more than you brought in, then what are we talking about? I mean, obviously, I know I spend more than what I make because my credit card is $26,000.

So what's the trying then? What trying is trying? I'm trying to, like, you know, really commit to making large payments and making sure that, like, my bills get paid, obviously, and everything else. And then whatever is left over is paying for, like, the essentials, you know, gas and groceries. Okay, I get, I get. No more, like, I mean, I don't even really go out to eat that much, but it's like I was cutting back even more. Like, I was trying. Your biggest expenses weren't going out deep.

They weren't. But there was a lot of unknown shopping because there's a lot of just categories in here that are like, uh-oh. But again, you did spend more than you brought in. But actionable, again, if you're trying, why wouldn't we do the most simple thing, which is literally make a budget? I haven't. Are you a small business owner stressed about cash flow? Well, keep listening in because this could change your business. There's nothing worse than staring at your account.

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And even if you don't win the $25,000, using Relay sets you up for better cash flow management in 2024. And when you sign up at Relayfi.com forward slash Caleb Cashflow using the link in the description. They have a special $100 bonus just for you. And let's be honest, your business deserves that kind of glow up. Join Relay to take control of your cash flow today. Sign up at less than 10 minutes using the link below. That's an answer to why is I haven't. I haven't.

Yeah, it's been like, it's been on the today list. That's your answer to why? No, how about the, you answer why? Not did you? Why? Can you give me a fucking why? I, I don't know. I don't.

I mean, I thought I could figure it out and like use like a mental budget, you know. Like, okay, this money is going to go. How's that working? You thought you spent more. You didn't know how much came in. It's obviously not working. You thought you spent more. Uh-huh.

Uh-huh. Yeah, so. Don't we change things when they're not working? You're absolutely correct. Uh-huh. I am, but. I'm trying. No, I don't think you know what that word means.

I'm optimistic. That's not trying. I'm optimistic that things are going to get better. Well, being blindly optimistically, so you getting fucked. No. I don't think so. So it's where you are right now. Hey, how much is in your TSP?

I just checked yesterday. It's at 19. Okay. So. I'm not taking that out. Absolutely not. I'm not going to take that out. Because you can.

Like, you can take it out early. and I'm like absolutely not. No. Staying in there. Was I suggesting you take it out? A lot of people do. And a lot of people do take out of it. Like it's a comment.

Yeah, people are stupid. Mm-hmm. I agree. Yeah, you have about 20% of what you should have at your age in retirement. So you're dramatically behind. Right. But I mean like there's. So you're trying.

Your optimism is leading to nothing. Your optimism is leading to you having more on a credit. card than in your retirement. Oh, that's true. Yeah, it's math. Number two, you are dramatically behind a retirement and you have two kids that are going to feel morally obligated to take care of mama when she cannot afford to pay bills in the future.

The TSP is going to get way plenty more money before I retire. Via how, because so far you've done mid. Well, it's just how it works. Like, I shifted things around. It's in the correct fund now. I just shifted the funds earlier this year. What was the fund into what? It's like the C fund into the G fund or the G fund into C.

I don't know. I don't know how it works. So you don't even know. You can't even describe. No, I can't describe. But we're so confident about something we can't describe. I mean, do you know more about the different fundings for TSP?

In terms of the C.G, I could look it up in what is kind of comparable to in the overall market. Yeah. And I absolutely did that when I was switching everything around. Then what was it comparable to? Can you explain it to me? I want to say it went from like one or two percent. So we're talking like bonds or something?

20. Well, not like a guarantee 20. Maybe it performed 20% within a certain period of time. Yes. Yeah, yeah. Year to date, it was like 26%. But even still, this 20,000 dollars isn't going to grow to any, enough for you to retire.

Again, this is, oh, are we taking too much of your time? Oh, you know, it's just my son's school. What do you think your finances are? Our score, zero to 10. Zero to 10, zero being the absolute worst, 10 being the absolute best. Where do you think you are today? I would probably say like, you said one is the worst.

Zero. Zero is the worst? I would probably say I'm at like a two. You want your hammer financial score? It's free. Link in the description below. It's not only for military people. You can do too.

You can find out where you are. And also, civilians, military alike. Come on, join us in Austin, Texas. Right here. Come on the show. It's fun. I'll give you some verbal little slaps where we're going to create you a good plan. We're going to set you up with the resources and it would be good.

go to Calebhammer.com slash apply and come be on the show. All right. I mean, your Amazon must be a huge part because of the unknown shopping. We don't really know what's on Amazon, but you spend $1,262 at one month on Amazon. Yeah, that we could start paying substantial debt down with $1,262. So we're going to start with the big card. Yeah, yeah, yeah. Okay.

All right. Is this a double-dual income household? No, that's the thing. It's just me. Okay, so. Yeah. Okay. And it's also in my own.

own fault that I racked up the credit card that high. The other one, this is a platinum card. Yep. So again, you really did not tell me how you got the 26,000. I would love to know, just from your own opinion, how you got the 26,000. Flights, you know, kids want stuff, gymnastics, like, you know, six flags. And that's more important than your financial security, their financial security, you haven't any chance to retire. memories are absolutely, like, really important because I also like... Oh, I didn't say they weren't, but I'm asking more important. I'm only 33 right now.

I'm thinking to myself, I will debt 150% be debt free by the time I'm 40. Not on the path to you are. That doesn't make sense. Well, obviously, I'm going to make some big changes. It literally takes 30 years to pay the soft minimum monthly payments. So I don't know what the... You're right. Instead, you spend $2,286 on it.

And I paid $3,000 to it. it last month. Every month I pay $3,000. I pay a lot. The $3,000 doesn't. Oh my God. The $3,000 doesn't matter if you're putting $2,280 on it and then $629 of interest is accruing. You can jerk yourself off over $3,000.

Congratulations. But if you're putting most of it back on and interest is accruing, it doesn't matter. Do you not get that? I understand. Then why are you so proud of this $3,000? Because you know, by the way, that $3,000 isn't actually $3,000. Because of the money you're spending on here would have been spent in your checking account,

meaning you wouldn't have had that money extra available to put on here. You would have only put about $500 on here, which is, well, the minimum basic required is $948. So it's not like we're really doing anything crazy anyway. Yep. So, okay, I can't congratulate that. What are you doing spending $2,286.50? cents when $629 of interest is a queen that's a queen on a monthly basis why are you spending that much money that's insane right so i was being really dumb and this is how i was budgeting is that

every single all ever all the money that i made after i paid all my bills out of like my checking account i would put all that money towards the card and then i would but you don't know how much is anything because you couldn't describe your numbers to me at the beginning i look to see how much is left in the account and then I after what after whatever checking no I look at my checking after like my mortgage came out my light bill came out I know that my car payment comes out and midmonth pay and that's all that comes out of your checking there is no spending correct there's no spending coming out of my checking now I am trying to fix that and not do it so much but like today again you do not know the word trying you would just do it okay yeah no no

Do you disagree? No, I don't disagree. It's, no, you're right. I have, I, I, I, like, my trying. Like, you're not going to get out of it by saying, I am trying. Because you are not. It's in front of us. And that's also just going to baby you and not going to get you to any more beneficial in the end.

Yeah. I'm just like, oh, yeah, you are, sweetie. You're trying. No, you're not. Okay. I'm not trying. I'm doing a terrible job and I'm spending way too much. I'm swiping that card way too much.

I mean, the car is physically falling apart. Really? How long of you, you, and you, I got it. in 2022. So like two and a half years now. Uh-huh. This is an insane balance for a singular card. And to be purchasing on here.

Yeah. If you were putting $3,000 to hear a month and you weren't purchasing, dude, we would be giving high-fives. It would be a different situation. That was the intention. Your net that went to this card was less than your minimum monthly payment alone. Yeah. I see that now.

How did you not see it then? I obviously wasn't paying any attention. Not even paying attention. Have you looked at your account on here? here. Say you look at your checking account. You say you look at your credit card account. So you would have known. Yeah. Well, it doesn't tell you how much you spent this month. Yes, it. Where? Yes, it does. Where? Right. I want to like. Are you serious? I don't look at this statements. Why don't you pull up your little account for me? Your little special account. Go ahead.

No. What? You'll we pull it up? That was what I asked. It doesn't tell you how much you spent in one month. Let me see. Let me have a little peek, a little bit. But even just seeing mentally those transactions popping up, if I'm seeing many $10 transactions popping up, I can guess I'm spending a few hundred bucks. I mean, trust me, I feel like absolutely garbage about it. Okay. Yeah, your individual purchases here. Whoa, whoa, whoa, whoa, whoa, whoa, whoa. Here we go. Literally one button at the top and you can see exactly how much you spent. Wait. Right fucking here. Are you kidding me? Right there. You're at the top. off with the fucking phone.

And you can see all your purchases here. Yeah. So we just did mini Christmas, so. Okay. It's a little early. Well, this would, I don't, I have neither of my kids for, they're spending Christmas with their dad. Okay.

And I just had both of them here for Thanksgiving. So we did Thanksgiving and many Christmas. Merry Christmas, kids. I'm going to, uh, be able to retire so that you're not putting your life on hold to take care of me when I'm older. How about that? Well, they're not even thinking about me being Graham Heritage. No. It's called you are the

responsible adult. You are the one that needs to think for them. I'm taking good care of them. Not financially. No, you're not. Them having things is not considered taking good care. I know in our consumerism culture, it might feel that way. But if you are not set up

for retirement, you are fucking them. They did not have a choice to come to this world. But they are going to feel morally obligated if you cannot afford to put a roof over your head. And no, your fucking investing account's not going to blow to the way you think it is. By the. But what? I was just laughing at your reaction.

And then your credit card is not just going to be magically debt free by the time you're, what did you say? Like 10 years from now? 40? Yeah. Okay. That's not how it works. It's a 30 year thing with the path you're going.

So I, okay. Well, I'm going to think. The literal path you're going is 30 years. Correct. So what the f you're talking about? It's going to be their responsibility. take care of their mom because the mom wasn't responsible enough to think, hey, maybe I should be an adult for a second.

This is so funny. I can't wait to get into the next credit card. This is funny. Yeah. No, no, no. This isn't funny. But it's just like, it's interesting that you're saying that like I'm screwing my kids over, but the next credit card, I don't even use it, but it's in my name.

And it is racked up. Then close it if it's in your name. It's so I close a credit with my money. Call, close them. With, oh. Mm-hmm. Okay. there you go.

Solved it. Solved it. Easy. Fix. You haven't ever Googled anything? So like I froze the card once because my mom uses it. I froze the card. Your mom uses it.

You can't call your mom and say please do not use this card? I literally have. And then she'll like, she'll call me and she'll be like crying like she needs to use the card because she's got to like put her car in the shop. See, you want your kids to be fucking that. You want your kids to be in your position and you're calling them. I cannot afford to live. What is your mom actually?

Do you know? Oh, you're not even giving her money. You're giving her access to credit even. And this is debt for you. The thing is, your mom, how much do you know about her finances? I know nothing about her finances. Then you shouldn't be giving her money. Now, the reason why I gave her the card, remember, we all came to Korea.

My mom picked up my kids and, like, flew with them to Korea. I was like, mom, here's the card for airport travel. If, like, anything happens, if you need to, like, get, like, you know, your flight get delayed. need a hotel, whatever. You're the one that restarts the card and allows her to spend on it. Yeah. So I don't care when she got it. This is huge for financial audit.

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I know. But why would you allow to give her money if you do not understand her financial position? I said she's good. That's not. Listen, I'm not opposed to giving money to people. and need, especially family, especially friends or whatever. I'm not opposed to that. But understand the financial situation.

You could be enabling them. She could be blowing money on things you don't even know. She could be doing bad behavior that you don't even know. I'm not talking about drugs or anything. That's not what I'm talking about. I'm talking about just financial mismanagement. And then you're enabling those by just providing more money. You don't help people by being just fucking nice and allowing them to just bull-up their life.

Sometimes a hard truth is required. Yeah. I mean, I am too nice sometimes, I think. That doesn't actually help someone in the end. Well, you're, yeah. Sorry. You're allowing her to continue doing what she's doing. And we all know people like that in life.

My, my, I asked her like a month ago, like if she could like, because also she had a really bad credit score. I'm like, this will help your credit score. We also need it. She's an authorized user? Yes. Oh, so if you close it, it will also hurt her. Okay.

You said it was in your name. I didn't know she's an authorized user. Well, it's an authorized card holder. Yes, exactly. Well, I didn't know the difference. So, yeah, but I asked her... You can't use credit cards. You should not have access to.

You're not a person. No, you're right. I thought, I asked her to open up her own card and do like a card balance because her credit score has, like, improved a lot. She can use the fucking Fizz card, I guess. She usually can't care towards young people, but it only allows you to spend the kind of money that's in your checking account. It's like a debit card, but it builds credit.

Oh. But for sake. I don't know. That's probably too old for that. I just don't. Don't do things like that. Don't do things like that unless you understand their financial situation or else you could be just enabling them. There is nothing wrong with giving.

I know. But if they are continuing their financial mismanagement and financial misbehavior, you're literally just helping them do that forever. Yeah. And she's never able to fucking stand on her. Look at her. How old is she? Late 50s or 60s. There you go.

Late 50s, early 60s. Doesn't know the age of her parent. Okay. So at that point, if she's not able to stand on her own financially, not just a hard time, it sounds like for more than a year now, she has been able, been enabled all throughout life or something because the fact that she can't stand on her own two feet for a long period of time, moments of hardship, completely different, completely different. Yeah. But it sounds like this has been going on for a second. Yeah, because I was like, I was watching it at first, you know, like trying to keep an eye on it.

And most of it, most of the charges are large like flight charges. From mom? Yeah. So it'll be like $700, $700. Where's she going? So she goes on like these work trip situations. Okay. Is it reimbursed?

They send her reimbursements. And then she'll send some of the reimbursement. She never pays off the full amount. Then you've allowed her to be. Okay. The thing is, um, I need a call. You need to close this thing. She can do that if she uses a reimbursement and pays it off.

But if she's not done, she's just like pocketing the difference. She can't, she's not going to be able to pay off that card. That's $7,000. I'm not talking about paying it off. I'm saying if she spends work money on it, and she gets reimbursed, the reimbursement needs to go to it. Paradei presenta. Ojos with Alerjcenae, contra el-Gener.

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she's obviously just pocketing the difference, and you need to close it. That's what I'm talking about. Yeah. That's what I'm talking about. And she's like pocketing. You think she's doing this and you're allowing this? Well, I don't know.

I can't really talk to her about money situations. Why? I don't know. It makes her sad or upset. Like I don't want to hurt my mom's feeling. That's manipulative as fuck. I love her. It's like the spoiled little brat who gets everything their entire life.

And then the moment their question, they're like, no, no, no, it's like so not like that. Like we have both made major sacrifices for each other. No, that's good. That's good.

But come on. If you can't have a conversation with someone about money, that you are fully supporting or else they start feeling sad. That's f***. Sure. You don't agree? Yeah, I mean,

I think it's an unfair situation. It's a better way I'd put it rather than saying that it's fun. What if I called her? Don't call my mom. You're not going to let me call her. No, it's my mother. Okay.

I love her. Yes. Yeah. If we love her, don't we do the right thing? By doing, wait, telling her.

in a fucking conversation about the money. You are enabling her. Okay. No, you're not because you can't give me a single question into, or a single answer into what is actually her financial situation. Her, I, I know what my stepdad does. I know his like general income and she makes, she makes like, her bonuses fluctuate or her income fluctuates.

But you don't know her financial situation. You're just talking about her fucking job. What do you mean like? Her debt, her income, her spending, where things go, where does the, reimbursement go. Her debt, like the debt that she has is pretty much just that one credit card, the one that we share. And it's a dual family household income. Yeah.

But she needs your credit. She did because she used to have like, she used to do all the payday loans like over and over and over and over again. And this is someone we want to be an authorized user on our own credit, someone who takes out payday loans. Well, I wasn't going to expect her to pay for like the flight stuff. Exactly. And this is when we have a conversation like adults. Right. And so after Korea, I was like, hey, like, I'm going to turn this card off. When was Korea?

Can I use it for it? It was like two years ago. Okay. I don't give a fuck. That was two years ago. We've had two years. Yeah. It's like enough with Korea. Yeah. Korea was two years ago. What about things in 2024? Well, sure. Yeah. Exactly. Hulu on this card. Peacock. More precock. Peacock. Mr. Carwash absolutely necessity to survive in Austin, Texas. Amazon. Amazon. more Hulu

Whoo Amazon Amazon Fast food restaurant That's what it's actually called Okay great Or is that the

That's the category But it was You used Apple Pay Prime video channels Picnic Palace Amazon Apple Spotify

Door dash Jimmy Johns More Peacock Premium What are you doing What is your life Why are you obsessed With this peacock You're endlessly

Umpia are you renting You must be renting No not at all You went to a record store Amazon Amazon Amazon Are you sure the kids aren't getting things? You got a record player. No, no, no, no, no.

From Peacock. Renting movies are getting something. This is three Peacock purchases so far. I don't know what that is. Okay, then you figured out you might have three different subscriptions. TikTok shop, $28 what are you getting? Ha, ha, ha. Our return is 20% of where it should be.

Okay. Yeah, what did you get? It was a toy for the kids and they loved it. What the fuck are you toy getting them on TikTok shop? I thought that all they sold on there is, are you getting your kids? What are doing? Your algorithm is really messed up then. Yeah.

is. Hey, yo, what the fuck? Okay. What are you getting? It was a toy. I mean, it was like... Yeah, just what? I don't know.

It was like the little water, like jelly toy thing situation. They loved it. Okay. Yeah. Played it for hours. It was great purchase. That was it? Well, they just got it like a couple days ago.

And he just left. I'm around we're here. Oh, for micro Christmas. Yep. Yeah, mini Christmas. Oh, my. Here comes again. You ready?

There's the apple paste store. The peacock. Are you fiend me? And that door-dashing Jimmy Johns. Why are we door-dashing Jimmy John so much? Dominoes, Amazon, Amazon, Apple Bill, and more Amazon. All right. $824 on Amazon right there.

That was mini-Christmas. Stop with your mini-Christmas. This is a huge Christmas. You're spending so much money. You need the money you're spending more than I ever got for Christmas. This is huge Christmas. I have two kids. What are you talking about?

And I was a three-kid household that I grew up in. So shut the fuck up. Let me see your Amazon account. No. Six-six-six-six-12-29. of interest crude. This is so far $5,000. $5,000. $5,000. $5,000. $5,000 of interest on one card. Year to date. Yes. Literally, that's a 27.49% interest. I could put that in my Moomu account, in my uninvested cash gets, I think it's like 9% return on my money for the first six months or something

like that. Something crazy in my MoMA account, but you're just, it's my investing account, But you're allowing $5,000 of interest to be accrued negatively, and then a massive ass balance of $26,955 at 27.47% interest. Oh, that's okay. Can you know? I'll lock that again. Yep. There you go.

Ooi, oy. O'y. All right. Arriving Sunday, cat food good. I'm glad you're feeding them. You need a little stand for your iPad. I get it. You don't need a cake.

You don't need a fucking apple pencil and different tips. Come on. We got a spring Oh, we're raising iPad kids. That's great. There's your 10th generation iPad. He's so artistic. You're going to make him autistic with all this.

I don't know if that's how it works. I don't think so. All I know is iPad kids, they don't really. Honestly, they really do not do as well in school. We're starting to see the actual consequences of this. They're on honor roll. It's thriving. No, it's fine.

It's fine. I'm not saying they are. But can we afford to get an iPad right now? Honestly, if you ask my own. older kid, he'll say that, you know, screen time gives you brain raw and he'll agree with you. Right. He's more mature than you. Okay.

Men's pull over hoodie. That must be for micro Christmas. And then double drones. We droned it up. Dron battle? Yes. Yeah, yeah. They each had to have one.

Of course. Yeah. A roasting pan. You did not have a pan. I didn't have a pan. And, uh, wonder, creature, cat, water. That was a new water bowl. Okay.

I know you have bowls and I know you have bowls. and I know you have water. If we're literally just trying to survive, I don't think those are just the luxuries we're getting. Well, it has a, you need to have a water filter in Texas, and I don't have a water filter on my sink. So that has a water filter.

What is it 98.5% of faucet water in the United States? Drinkable safely? I'm specifically talking about Texas. It is disgusting here. If you don't have a water filter. You're talking it tastes a little good. You're not saying it's not safe. Life is full of surprises.

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It's awful. So bad. Needed be headphones when we can't afford to survive. Same with Legos. Oh my. I don't need a thing for every single little thing. You got a stupid Oculus, okay? That was for the kids.

I get that all this. You have $28,000 on this credit card. Do not get that. I know it's all for the kids. I don't need to know it's for the kids. Every single fucking purchase. I know it's for the kids. That's why it's mini Christmas.

I get it. Can you afford it? Is the question? No. National Geogood. graphic. That's great. For, oh, okay. A cordless leaf blower.

Wireless charger. You did not need a wireless charger stand. Vardukids. I'm sure they could charge their fucking phone. A two-two train set. And we really needed it for micro-Christmas. And then we got little, what is this? A gay Batman? I don't know what you're looking at.

I think it's gay Batman. Rocks? He likes rocks. I'm not really funny, but I like rocks. He likes rocks. Loves rocks. But we're scared of drinking minerals. You can't do this.

You're in their future. Do they have a college fund? Yeah. What? Well, they're getting the GI bill. Both? Yes. And it'll cover everything.

Everything. Four years. Four years. And they get paid. Because their dad is giving one, his GI Bill to one kid. I'm giving my GI Bill. Ah. Ah, there it is.

They are set up for life. And they even get to... Well, they're set up for college. Yeah. All the way up to a master's degree. It helps a lot. Caffoo, lots of phone cases and screen protectors. This is just so much...

So much... Camping light. Now lots of camping gear. We must have went on a camping trip. We did go on a camping trip. That we couldn't afford. It was super fun. That we couldn't afford.

Memories. That we couldn't afford. It was worth it. It, like, mathematically it was not. but sure. An 84-month car loan? Go, you really are Patriarch. This is the most American thing I've ever seen.

Why an 84-month car loan? I want to lower payments. You know that's not how it works. You are paying more in interest over time because you are allowing that balance to sit longer. Oh, I'm going to refinance it when rates go down. Okay, if rates go down. When rates go down.

They will go down for sure. they're what yeah i'm sorry you chair the federal reserve well i mean i'm just you know assuming they're definitely gonna go assuming not really i mean they're they're they're kind of about like an all-time high when i went and bought the car they've been cut a couple times this year but you don't know what's happening a new administration's coming in whatever it's you know things are different we'll cross our fingers you but we don't know i mean if i can't refinance them whatever if i can awesome whatever i have an 84 month loan i'm going to have this this car for seven years they're the loan for seven years.

That's a whatever. Seven years of my life doesn't matter. I'm going to be 40 and I finally paid off my car. And? That's a long time. A car is going to last me a long time. You're an American. You are not going to be happy with the car for seven years.

Well, that's probably true. I mean, I had my last car for like five years and that was a long time for me. But it was like... There you go. You're answering my... Listen, it was like starting to like have issues and I was gone for so long and it

was parked. I'm like, you're breaking down. when you're part. You are going to find this being breaking down in seven years. I don't know. But yeah, seven years. You will. This car, like, I only got to drive it for like, what, two.

You know, $39,000 is worth $31,000. Because I just bought it this year. Yes. Of course, the value isn't that great. But I didn't have. It's never going to be. But I didn't have any rollover on my last trade-in. So.

Congratulations. You met a basic requirement. I'm like, what do you want high fives. You want high fives over making a massive payment on the car, but then you spent it all way back. And then you want to high five over not rolling over a previous belt. A lot of people do that, though. A lot of people do a lot of dumb shit.

I don't give a shit. Okay. Okay. I still think. A lot of people, vape. Should you, do I deserve, like, massive rewards for not? Yeah. No.

Okay. Yeah. It would be how I raise my kids. Hey, guys, you didn't murder someone at school today. Good job. He didn't get in a fight today. Good job. I think that is definitely high-five-worthy.

84 months. What is it? 2024 Kia Sportage. $39,735. $181. My goodness. With a minimum monthly, oh.

This is spread out. This is considered a lower monthly payment because we spread it out so long. And it is $630. 3. $638.70. That's an insane, disgusting, despicable car payment for seven years. Something were underwater by $8,000. Are you kidding me?

And you do not even think of this is bad. I feel like $600 is a normal car payment. Normal. Why do you give a bit about normal? Why are you comparing yourself to normal? The average Americans can't afford a thousand dollar emergency. Why do you care about normal? People aren't set for retirement in the United States.

Do you want to be compared to them? People have credit card debt in the United States. Do you want to be compared to them? No. Exactly. The median age to buy their first home is now something in like their 50s. You beat that. But you want to be compared to them?

It's like, why? Why is normal how we're basing it? As long as we're not a complete piece of shit, financially speaking, then we're okay. What do you mean? You can afford it. You don't have retirement. You are 20% to where you should be at your age. I mean, I'm not retiring right now.

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You know, Dave Ramsey? I don't know anything about Dave. You never heard of Dave Ramsey? I've heard of him. The best, the more powerful wealth building tool is your income. That's what he says. No, the most powerful wealth building tool is time. Time in the market, allowing it to compound.

You are taking that away. You don't just all of a sudden magically retire. You're already behind. You've already given it. up your best decade in your life for investing for compound growth, you are almost halfway through the second best decade of your life for compound growth. You are only going to have two to two and a half decades, maybe three if you work for a very long time decade of compound growth when you could have had four or five. Well, I mean, I have the TSP that's going to be continued to grow for

until I'm 59 and a half. Yes. And I'm also going to get one. No, I'm going to interrupt you. Okay. It's going to continue to grow 20% behind where it should be. It's, Again, it should be, you should be on track for retirement and it grows at the same pace from there. You're 20% behind, meaning if it still grows at an incredible normal pace, you're always still 20% behind. Okay. What was your second point? In 12 years. 12 years, I will get automatic retirement anyways.

Of how much? Whatever I. What's it at today? If you did it. If I were to retire, I don't know. No, no, no, no, no. No, no, no. Just what, what do you think it would be?

Because it goes off of years of service. I know. I know. What do you think it'll be? I don't know. Okay. Someone doing it today in your position. What are they getting? I don't know.

Oh, you don't know anything. Good. You can't retire it. No, no, no. I'm saying, uh, what you said in a couple decades, 12 years? 12 years. 12 years. If someone's doing that today, they completed that extra 12 years in your situation, what are they getting?

Uh, probably like four to five, maybe six grand a month. It really just a time. 46. That is such a huge. range. I mean, not respect the dollar. $2,000 is a huge amount.

But also like, you know, if, you know, you're going to be retiring, you know, between 40 and 45, you can absolutely still work and, you know, have a, get, make a diploma while you're still. Make a diploma? Earn your diploma. Work towards, you know, college while you're in. You and your kid? Yeah.

I have, we have different college funds. Like, I get tuition assistance. They get the GI Bill. Oh, assistance. No, it pays for the entire class. Okay. Yeah, per semester. Up to a certain amount or no matter what?

I think you can take up to like five classes. But anything? Like it could be a private out of state like community college. Like what are we talking? Well, they have a ton of like colleges. You can go to online and really depends. There's some universities that. Okay.

Listen. No, no, it is not insignificant being able to, let's say the $4,000. Even $4,000 a year for the rest of your life is not bad. That is not going to be enough to survive necessarily. And it's certainly not enough to support the lifestyle you want to do. Oh, no. I can survive it for 4,000 hours a month. I would have to sacrifice my lifestyle immensely.

And you could do that as well. I just know you could not do 4,000 hours a month. Not right now. And you are not setting yourself up to double that either. What do you mean, double it? So I have 8,000 hours a month with your other retirements combined with your four. Another retirement? Oh my good.

Your T.S. That's not till 60. I get that. I'm saying you're not on track. to take it from 4,000 hours a month to 8,000 hours a month combining both. Oh, okay. Uh-huh. So no, you can't afford micro-Christmas, which was how that started.

If you are behind on retirement, you cannot afford it. If you have a 28,000, 30% credit card, you cannot afford it. No, it wasn't micro-Christmas. You're saying you can afford this monthly payment. No, you can't because of all those things. Okay. That's a simple reality. But what am I going to do?

Nothing. Uh, cash car, 10,000 hour car even if you have to take out a 10,000 hour. So what am I going to do with this car? That's $8,000. I'm in water. Oh, what are you going to do right now? Okay. Well, that's different.

Can't really do anything right now. Uh, no, we can attack it. We can go crazy. You can attack it? Like, make extra payments? Yes. Okay. No.

Well, I mean, I could for sure. No, no, no. I don't know. I'm not saying no. Uh, that's just initial reaction. Then it's like, okay, well, let's hear. Because I mean, if it comes like if it makes sense, like I got so much more that I really have to pay for that adding a little bit more. Meaning that you actually cannot afford this car.

So, okay. I can afford it with my income. You're spending more than you make. I'm spending more than I make, though, because of my credit card situation. So if because of a credit card situation where we are where we are today, then no, you cannot afford the car payment. How is this that complicated? It makes sense to me. I don't know how.

Okay. A blonde thing? Probably. Okay. So blue cash preferred. Is this mommy's? No, that's mine. That one is almost paid off.

It is almost paid off. It is interest free. We're attacking an interest free card first. It's interest free? Well, no interest is accruing and it has a balance. So my guess, yeah. Only through February. So we're almost there anyway.

It would be three months from now. Okay. Any particular reason you were attacking this one first? I wasn't. I was just like taking away. a little bit of month. Yeah, but you're doing much more than the minimum on this. You put $200 stores when it's a $40 minimum payment.

That's what I always do. I'm like, okay, I put like big payment, no payment, no payment. Okay, so there was actual no intention or strategy or idea or thought. Okay. No. $511. 50 cents. The balance on here with a $40 minimum fee payment.

No purchases, no interest, good. Thank you. Cool. February. And then it's 27, 28% interest. Well, I guess we're not. I'm not going to use her. Oh, what is this Navy Federal credit?

This is a huge... This must be Mom. Navy Federal? Is that like $6,7? It's $7,472. Yes. I only made one charge on it, I think, and then I paid it right away. Close.

Close. Close. What close? Close. Oh, close the card. I thought I said clothing. No. Oh, close it.

Or understand her financial situation better and then gift her cash if she ever needs. Okay. All right. I'll do that. Does that make sense? Yep. She work? Yeah, she does.

I'm very concerned that you're not able to have a conversation with her. It should just get said. Yeah, we don't talk about me. I don't know how the fuck you're going to do this. We grew up very, very poor. Great. It's like tough to like talk about finances. I also grew up not in a financially good household.

Guess what? We have conversations because we're adults and we know how to communicate with each other and we don't get offended at everything and act like we're children. Okay. Is that a balance of $7,000, $7,472.95 cents. Lindsay is checking on your child. Bathroom break. He just wants to be nosy.

$141.36 is owed on this. I will not swear for five minutes. Two minutes. Two minutes of no swearing for child purposes. $141.36. Is it a payment? That's your minimum. Yep.

Okay. Yeah. So I have a recurring payment. You effing. Dumb. Dumb. This is so stupid. Why?

You made a $350 payment. Good. It's double your minimum. But did you purchase $507 with interest recurring of $66? What does happen? Oh, this is your mom. That's right. What was that $300 charge?

No, $352 went to the card. Oh, what was that? $507 was charged. To what American Airlines. You don't even know what it was. You don't look. I don't look at it because I don't spend it. But it is your credit.

And I make sure that it's paid every month. Your minimum. No, at least. So I have a recurring payment. I cannot. 22 years to pay off. But that's with no purchases. There's always purchases.

But I never did. She went to Fairfield and had some inn and sweets. Yeah. She did a hotel. One of those work trips. One of those work trips that never reimbursed back into the account. Correct. sure I cannot call her because I think she needs a

fucking little conversation. No, we're not calling her. Okay. No. Why? Why? I don't want you to. Why? Because she's... I'm not going to wish you to. I want to know why. Nobody knows I'm here right now. This is a big secret. Okay, well, they will, won't they? They will eventually. Yeah, and if you call her and you're like

yelling at her through their phone, she's going to be like... I'll be informative. Who the hell is this? What's going on? Don't tell me how to live my life. I only yell at people that I have permission to. I will just give her the flat. What's going on? Just get a little information.

Okay. Can you call her and ask her? I won't participate. Oh, I will. In the post show? I'll do the pro show. Yeah, yeah, yeah. In the post show.

You'll call her. I'll call her. All right, guys. We'll do it in the post show because it's buying a paywall. People feel more comfortable with personal things there. Feel free to join our, uh, join link in the description below. Join Hammer Elite, by the way, for like 10,000 hours of extra content, exclusive of audits, live streams, and even a call-in show.

It's pretty fun. Total interest is your charge so far at $708 on here. That's insane. That's disgusting. It's vomit. Not as bad as the other one. The other one was disgusting. No shit.

But come on. Again, let's not play the compare game. That does not mean that is not bad. You're obsessed with the compare game. It's comparing. It's spending money you don't have. Okay. Wells Fargo.

Uh-huh. Reflect Visa Platinum card. Uh-huh. Everything. Okay. I pay that one on it every month. Pay it off every month because it just gets. Yeah, it looks like you did.

Yeah. Gambit Social House, Gambit Social House, and then a gym kits. That's $159 and then 30. It's still so much money that you are then forced to pay off on this instead of putting extra money towards the other debt. So what are we doing? Those two first things were bullshit. Well, yeah, no, those were dumb for sure.

I, uh... That's money that could have been paying off your other debt. Yeah, but, you know. So what are we doing? socializing obviously socialize for free go to a dog park I don't like dogs put your kids on a leash it's your dog wolf wolf

here no no no that's so silly and we're like we're homebodies there's so much you can do that doesn't require having to go spend money I really don't know I mean we go hiking sometimes there you go wonderful that's not that's a solo thing there's no socializing there social so just random people trying to get out

in the date world yeah I mean Dating? No. That was just, that was really just hanging out with friends, I swear. Okay. Then if it's friend stuff, then hang out of pregame. You know, I don't know.

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it's what we kind of do sometimes, but it's like, I really never go out. Like, you could look at my statements from, you know, past year and it's...

Stop. All I care about is $189 was spent that you had to pay off that could have gone to it's something else. So I don't give a shit. That is what was here. The kid is gone.

I can say shit. Yeah, that's a 29.49% interest, but again, no interest is agreeing. So that's okay. Penny Mac, so this is the house. This is the mortgage, yep.

This is $267,7,7.7.006. $4.9 interest rate, good. $1,207 minimum monthly payment. Not bad at all. Okay. What is the value of the house today? Like, just kind of, you know, just rough. Probably about the same exact.

Would you buy this? I bought it last December. I think it's probably a little down. It might be a little bit down. It's probably a little down. Yeah. But are you saying you purchase a 0% down? Yes.

Gosh, I like the idea as a benefit. But again, it's not actually helps you get into the house. Yes. But when you're in a market right now where it's a bit weird, it's a bit slower, and it's a bit down in Austin, you now have a negative equity position in your house. Oh, absolutely. But I like, I was really stressed. to when I was trying to move.

But you could have rented for cheaper. Like, there was nothing available at the time, I swear. That's not true. Well, I mean, that was like in a good location, in a safe area. And that wasn't a duplex. I hate duplexes. There's like literally one neighborhood in Austin where people get hurt. Well, I don't know what you're talking about.

The, the where, I mean, yeah. So where I was looking now, it was, there was a lot of like sketchy areas. So. Yeah. And this house had a lot of incentives. Georgetown is all old white. was like really nice incentives, new construction, came with a bunch of stuff, like home warranty situation.

I don't even think people in that town are able to walk down the stairs outside their house. It's a bunch of old, white retired. Pretty much. Like, just like, her. 1950s like. Yeah. But still, I like it. I know, but you would have been safe.

And I did like, anywhere. Like, I got like the. And no, the skin color doesn't have anything to do with the safety. know a couple people are going to say that. I'm just saying it's just a very, very, very only white old people town. Yeah, predominantly. But it's like, I don't care. But it's like you were afraid of safety from a bunch of old people.

Or do they all have machetes, a swing in that? I mean, I don't know what you're talking about. Some of the other areas where I ended up being, but like, anyways. Whatever. Okay. Now you go to equity on a house. All right. Any more debt?

I don't think so. We get the blue cash, the platinum, the Navy federal, house, car. I think that's pretty much it, honestly. I'm right down here, minimum monthly for the car. 630. 633. 638, sorry. Okay.

$4006 in this. No, active. Did you check? It's only a... So E? What the thing is E? E has 236. Axi-duty checking has 162

and savings has $6. What is E? It's just the E-checking account. That's just the name of it. I don't know. Yeah. But what do you use it for you? You told me about all these different accounts.

So the E account, that's like where like my mortgage and a lot of like my, the things I had like enrolled in bill pay, they come out of that account. And then they. My producer's telling me to ask you about property taxes. What's going on? Oh, you know, I totally forgot.

to bring the property taxes. I have that. What do you mean? That should be. So you're not building that up into your monthly payment. So here's what happened with the, yeah, in the escrow account. So I think the way that like the mortgage people set it up, I don't really know how it works honestly. Set it for an annual payment. So they, they had it going, but it was like based off of last year's property taxes and the house didn't exist last year. So now they assessed my property and they assessed it for like, you know, what is valued at. And now my property taxes are going to be like $5,000 out of pocket. Is it not spread out through the month, though?

What do you? So. Into your escrow account, taxes and insurance. I checked my escrow account and it's like, it's less than $1,000. Okay. So you got a backfill. By when? February is the first payment.

So it like, and it goes. So not first payment, but it's like your first chance to pay. If you pay in February, this is the money. That's just how much it costs. How much do you pay? For the escrow. How much will. you have to have?

It's like over $5,000. You need an additional or after the one? No, that's just a total cost. Okay, so $4,000 is what you need. You need $4,000. Well, because your insurance payment will pay through that as well. I'm going to say $4,500. Jeez.

The price is set you up for failure there like that. Yeah. So Minecraft payments and Minecraft payments and Microsoft payments. I don't know how to turn. that Minecraft payment off. I've tried so many times. Challenger, tell us to stop charging from there. Talk to the bank. Go into the account and stop.

Ask your kids where it is. They don't use it. Okay. Check your Apple subscriptions. No, it's not on there. I even went to like the Minecraft, Microsoft like I have really,

because this has been charging. Call the bank. Okay. Because it's been literally talking about the top of years. Call the bank. Call the bank. Ask someone to block that. Okay.

I will do that. But then a Microsoft payment. 21 bucks. I don't know what that is. Honestly. Go through our budgeting class so you know how to look through your accounts. Okay. And build the budget.

Go through our debt class so you know how to look at your debt. What makes sense to pay off? How to utilize good debt? Because I know you like debt, including mortgages. And then eventually take our investing class. You get it all for free for being on the show. You guys all get a bundled together for 15% off. Like over 10,000 people have changed their lives taking it.

But you get it for free. So go through that. And eventually put your kids through it as well. Oh, that's probably a good idea. Yeah, eventually. Get the money smart. Eventually. But in this account that you have, again, only $200 in here.

We got more Amazon and military custom. Custom, custom something. 66 bucks. You went into a gas station, got some bullshit, something corpse. Oh, that's the gas station. You have rocket money premium. And you don't budget. I'm not anti that.

But you specifically told me you do not budget. Why do you have that? I look at it like once every two weeks. What is the point of looking at? You said you don't budget. What are you talking about? That sounds like budgeting potential. I was trying to budget.

I told you. I'm trying. Oh, you are just, you do not know it. I'm so fucking. That was a step in the right direction. I just didn't stick to it. Yeah. And then what was that military custom thing?

I don't. That's honestly probably. like new uniforms or something. The military uniform? Yeah. You have to pay for that yourself? Oh, absolutely. You get,

so you get clothing allowance once a year. But you still got to go buy it. Maybe the Pentagon should pass their audit. And we'd know if there's money. So you don't have to do that. Synergy? Oh, that's a movie theater. Stopping at the store near the base and

stopping at the store near the base. Get into bullshit. Going in, getting in the little shops. stuff, little numb, numb or smoke, whatever you're doing. I don't know, what are you doing? Energy drinks for sure. Okay, go buy a fucking bulk.

Go to a Costco. They exist. I do do that, but it's so far away. Well, do that more. Okay. Even the grocery store is still more effective, price effective to buy in bulk. Stop at the store.

Jimmy John, stopped at the store. Stop to the store. Got your energy drinks. Energy drinks and Oculus payment. Come on. Who wanted a new game? I get all these things. I want you to be able to do these things.

It is not a magic world where you're entitled to do all these things. What, do you disagree? No, I don't disagree. Then, like, you try to justify it by saying where it went. I get it. I like to do those things too. I want to do those things for them. Yeah.

You are not entitled to. Nor are they. And that is hard to think about for an 10 and 12 year old. So I get it. But you are behind a retirement and you have horrible debt. You don't know how to have a conversation with your mom. and you are taking care of two kids by yourself. So I don't give a f if you wanted to buy a game.

Yeah. You are financially. I have a really, really, really hard times like saying no. And talk to a damn therapist. You get them for free, right? Yeah, it's like a long way to get in there. And I'm like, oh. Panda Express, great in this account that has no money.

You said you didn't do anything other than just pay for your mortgage and stuff. every account we went to had purchase of some kind. So again, just like when we first started this conversation, you're giving me incorrect information as we learn to find, as we learn and find out. Generally,

you know, that's, we're not talking generally. I am talking about your actual life. Yeah. Well, let's always say like generally, like this is what I use this account for.

Sometimes I switch it up. I'm like, oh, well, this one's a little too low, can't go, whatever. You build the budget,

have everything in, one account. This makes no sense the way you're doing it. The way you're doing it makes no sense. It is overcomplicating and it's giving you a false sense of security. Stop. Don't say anything. You need to budget.

If you build the budget, you know where your money's going. You know where your money went. You know where you need to course correct. Okay. If you're budgeting, you only need one checking account. There is no need for this. You are simply trying to either shortcut it or find an extra sense of security that does not exist.

This is not helping you. This is not benefiting you. Learn to budget instead. Whether that's cash in envelopes, whether that's on a spreadsheet, whether that is using an app. I don't care. Budget.

Yep. I will. For sure. Reminder with this. You have two kids, single mom. Great. You do not have even close to an adequate emergency fund and you have a mortgage.

You are putting your entire family in a dangerous position, yet you were allowing yourself to have a micro-dick Christmas. This is not how we parent. This is not how we adult. This is not how we act mature. This is not how we live life if we are trying to have any sense of security for our family. If it was just you, sure, you could live, I would criticize it, but you could live the risk if you wanted to. You are dependent, they are dependent on you. This is not acceptable. The Amazon purchases, the Oculus game, the different things, not calling the bank even for Minecraft. That kind of stuff is no longer acceptable if we do not have an emergency fund.

It is dangerous. Your house goes into foreclosure. You can't put food on the table. You don't pay utilities. It gets cut off. This is what happens when emergencies happen and you cannot take care of it. Yeah. I've never had emergency fund my entire life and I've never known anybody that has had one.

Uh-huh. Because welcome to America. And guess what? Everyone's financially f***. Oh, lovely. So again, do you not. compare yourself to the average. That is what you do. It is obnoxious. It means nothing. Okay.

It's funny to like gift the older one. Like a certification from course careers and accounting and then they'll just fix your finances. That would be funny. Okay. Yeah, the savings is nothing. I will sit you down with a financial advisor, free session with the people over at domain money. They are who I use. It's one of the resources we have. Actually, everyone in the audience gets a free session. So it is actually something really beneficial. We negotiated that for you guys. Trust me. But take advantage of it. Take advantage for everything we're gifting you here. You have an immense, immense level of financial immaturity for someone in the 30s. And it is scary. It is terrifying. It's putting

in a dangerous position that you don't even realize the full consequences yet. It's been really tough. You don't feel the full consequences of not having a retirement fund until you retire. And that is one of the dangerous parts of about retirement funds is because Because, like, and I was like this, too, before I just got informed on all this stuff. It's like, I didn't have retirement. I can catch up on retirement. That's what it is. No, it is time that you need early.

And you don't realize you're not ready for retirement until it's time to retire and then you're not there yet. You don't get to see the consequences along the way. And that's why you need to become informed on this stuff. And you need to start preparing yourself. Because you're really putting them in a dangerous position. And that's the worst thing of all. So what hits our account on a monthly basis is 6,6,420. All right.

Your minimum-monthy debt payments, and unfortunately, this includes mom's card. I'm glad you're going to call her and at least figure that on the post show, because you need to confront that hard reality. I won't, well, if you allow me to, I'll participate. But either way, I'll al-A-Les-Let you deal with that. But minimum-money payments, actually, let's not include mortgage. Let's make that separate. Minimony-manyment, $1,768.

She'll be anonymous, of course. Yeah. And your mortgage itself. is $1,207. $0.25. What are, what's your, like, water, your gas, your electric, internet, all that? Let's see. Water and trash are included, are that same bill.

So that's right around like $98 to $100 a month. Do $100. Okay. Electricity usually varies between $80 and $120. We'll do $100. Internet is $100. Cell phone is $100. Cell phone's $100.

It's not the worst. I might look at doing helium for $15 a month. It's the same towers as T-Mobile. It's kind of like the mints and all those things where they use the same towers. They just pay for access. Yeah, I just, when I got back to America last year, I got this and it's like on payment plan. So as soon as I get this paid off. I hate that.

Roong, drive, drive gas. How much? Monthly basis. Come on. Probably like $200 a month, honestly. Yeah, we had $251. I'm going to say $250. Okay.

Car insurance? 100 and like 20, 30, 40, 10, something like that. Are you fucking me. How do you not know anything? That's what I'm saying. Like that's why I... Give me what in between what? It's probably like around like 120, 1.30.

130. Let's be safe. TP fund. Anything else for you and your kids needing to exist? This could be things for school, sports, activities, whatever. Makeup, nails, $200, total paper, all that stuff. groceries. Groceries, I would probably say about like $450 a month.

Kid stuff would just be his sport. Yeah. There's certain situations we know off camera. But because of that, I can say confidently that you can do groceries for $500. Okay, $500. Medical. Everything's usually military, so you should be good there, right? But is there anything extra?

No, no. Jim? No. We had a gym. I had it 100. hundred dollars. I don't know. I have a gym.

What? It was something on a, uh, a car. That's gymnastics. That's the sport. Oh, okay.

You put that in the TP fund. Subscriptions none. Do you have any pets? I have a cat. Yeah, you do. I saw the cat food. Yes.

Okay. You have a cat. How much for cat food on a monthly basis? Probably like 30, 40 bucks. She only goes like one bad. I say 40. Do you have pet insurance?

No. Can I get pet insurance? How old's a cat? About a year. Okay. $40 pet insurance, get it. How are you going to afford a surgery if something bad happens? You're not, and it's irresponsible for you to have it.

You won't have the money. You don't have money. You have a $1,200 in an emergency fund. Shut. You don't know the cost of things. You have no respect for the dollar. Okay. My gosh.

Get it. Don't be irresponsible. Get pet insurance. All right. Okay. If you have a pet and you can't afford to take care of it, you don't get to have the pet. Okay. Anything else that needs to be in your budget that I do not have here.

Not that I can think of, honestly. That's pretty much it. We should have space here. Let me see. I have a feeling we just overspend on things like mini Christmas. Dumb stuff. You know, flights also occasionally. No, not longer.

For the kids. Nope. They're not my flights. They're for the kids so they can see parents. Oh, okay. How often do you need to do that? Because we should budget that, though. About four times a year.

Oh, okay. That's fine. You take from T-fee fund. You figure out what you need to do. You budget that. On a monthly basis, though. So 6,420 to survive. Wonderful. Very good. And we need $4,535, and 83 cents to survive on a monthly basis.

There's no reason to be in debt. One, and two, we could probably get out of it. So to give you some encouragement along the way, I'm going to give you $200 in the fund fund. You have fun with the kids. Do as much as you want. Whether that be gifts going out to eat, $200. But there you go. So this gives us an extra $1,684 and 17 cents on a monthly basis to put start, putting towards debt. So the way we're going to do this, you need to have a conversation with your mom, but obviously blue cash is paid off month number one.

We have $1,000 left, and we put that towards the, we put that towards the Navy Federal, which was the mom card. And then you pay that off, and you'll have $6,000 left on that, $6,500 left on that card after that. You pay that off in four months,

so we're five months in, that card's paid off. Blue Cash is paid off, Navy Federal is paid off. This is when we start attacking the platinum card as much as we can. We also have some more money left on a monthly basis. We're our entire BS fund that we put towards the fund fund of $200. Now that is made back by no longer having them in the amount of the payments on those two credit cards.

So we're actually back to that $1,884 that you can start putting towards debt. So the car will be about $26,000 at that time. Divide that by $1,884. That should be paid off in about 14 months. and that one's a bit longer, but you have a strong income. What's your face? What emotion am I picking up?

I'm so confused. Oh. Yeah. That's okay, though. Well, we'll go through this and then I'll try to make it more simple, I guess. But at that time, we're 19 months in or we're one and a half years-ish. Okay. Okay?

That sounds. And then you start attacking the car because it's ridiculous and it's beyond stupid. And it's probably about $32,000. No. It's probably about $30,000. $35,000. Maybe $36,000, because honestly, it's all just going to be going towards interest at the beginning. But at that time, now, because we just paid off that massive credit card, and we have an extra

almost $1,000 we get to have extra. So we're going to have about $2,700 on a monthly basis to put towards this car. And that takes off a year. It takes a year. So two and a half years, and we're bad debt free. You also have to do the property taxes before then. So you're going to prioritize that before. the Navy Federal, you're going to do it after the blue cash, and that'll take about three months,

let's call it, conservatively. So it's going to take two years and three quarters, then you're going to get a fully funded emergency fund. Let's call it three years and one quarter. Three years, one quarter, and you are at base level, and you're 35. So it shows how behind you are, but that's okay, because you have a strong income, actually pretty limited expenses relatively. You just have to actually prioritize it and funnel to the correct sources. And of course, as your pay goes up, if you pick up another job, if anything happens like that, you are, and you're locked in on your mortgage payment is going to go up a little once you

start putting the proper amount aside for property taxes on a monthly basis. But either way, as the income goes up, that will hopefully get sped up to more like a three-year process total if they're fully funded emergency fund. But after that, we start contributing about 25% to your retirement and we should be able to play some catch up there. Usually we do about 20% to retirement, but you're going to do 25 because you're going to be starting quite delayed. at about 35 and only 20% of what you need to actually be retired at that time.

Okay. So. Sure. Yeah. Okay. That sounds like a good plan. Cool. So again, the way we're doing this is we're doing blue cash, property tax, Navy federal,

with mom no longer spending on it, likely closing it before, then the platinum card, then the car, then the fully funded emergency fund, and then 20% to 25% to retirement every year, or every month if that makes it easier to you. Okay. Good. So that's the plan. And then you come on the financial audit follow-up channel throughout. And at that point, we're tracking your progress.

We're answering any questions. We're keeping you motivated. You take advantage of the resources we provide you. Yeah. And yet be smart. You overspent. So spending your budget, zero out of ten. Debt.

You don't have collections. Property text. We're not going to count that. But that credit card is horrible. Now when your mom to rack that up is bad. And then that car is absolutely ridiculous. I'm not going to give you better than a two out of ten. Emergency fund, you've started.

You're about one out of ten there because you're a tenth of the way there. Retirement, again, we are behind at about 20% of needed. So two out of ten. Real estate, you are there, but you have a negative equity position. You put yourself in a slightly risky position, but at least you're in a position where you can gain equity once the market corrects at some point, which it traditionally does. It's going to be a four out of ten there. So we will call your mom in the post show, and we need to confront some major realities there. that's going to be huge. So make sure to join us there. But your Hammer Financial score is a two out of ten.

And make sure to get all our education for 15% off. I'll see you guys in the post show. Your mom is putting business expenses on your credit card and then the reimbursement is going to cash in her pocket. That blew my mind when I heard that. You're going to call her. Why do you need to use the new federal credit card? You know, now it's at like seven grand. You know, I'm making the minimum payments. You won't be able to spend on it anymore at all. To watch the financial audit post show,

click the join button below.