Financial Audit - Unhinged Newlyweds Destined For Divorce | Financial Audit

Episode Date: August 19, 2024

Get your first month for a dollar at https://Getkikoff.com/caleb today! Join my FREE 5-Day $1,000 Saving Challenge to learn easy steps for saving—no matter your income! (Limited spots available) https://calebhammer.com/challenge/ That's right... Dirty Money is BACK, with new and old designs ;) https://shop.calebhammer.com/ only available through the end of this month ▶LIMITED TIME: 1) The best budgeting program online:https://calebhammer.com/budget 2) Get all the tools you need to reach financial freedom. My budgeting program + investing program bundle:https://calebhammer.com/bundle Any questions? Email [e-mail] ▶The best budgeting program online, at the most affordable price: https://go.calebhammer.com ▶Financial Audit Post Show, bonus Financial Audit, Member Streams, and Crewcast: 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

Thanks, yours too. What does RAV stand for anyway? To me, it's the remarkably advanced vehicle. Really? To me, it's the runway approved vehicle for its amazing style. What about remarkably adaptable vehicle because of its versatile cargo space? Or really admired vehicle? Oh, or really awesome vehicle. It really is the recreational activity vehicle.

The stylish 2026 Toyota RAP4 Limited. What's your Rav for? Choice Hotels get you more of what you value. Comfort in It's calling your name Save on the stay Oh And free waffles are yours to claim

Book direct at storeshiltails.com To watch episodes of Financial Audit a week earlier Check us out on YouTube Married for five days, six days Oh And you're saying we're in this situation Because your wife collects things I think we probably would be less in this situation

If a certain someone didn't have collections We'll call them. The art that you see on her body is very expensive, but she has a pretty... Just out of the gate, just like, her. Normally, what the heck are you buying and why are you still putting it on these credit cards that we sold things? Reasonable question. Hi, my name is Ellie. I'm 27 years old. Hi, I'm Joel. I'm 29 years old, and we're based out of Phoenix, Arizona. And this is financial audit.

Thanks for coming down to Austin, guys. What do we do for a living in Phoenix, Arizona? Arizona. We'll start with you, Allie. I am an admissions advisor. I basically help kids get in the college. Oh, do you help people get in college? Do you lead them to majors that make no money? Yes. No, we do mainly business. Hey, I was led to that major. Mainly business. No, I'm, I got a degree in coloring. Yeah. I have crayons if you'd like so. And what do you do for a living? I work in tech in the law enforcement space. Wow, interesting. Yeah, they're based out of Scottsdale, Arizona.

They make body-worn cameras and tasers for police officers. Oh, okay. Just don't taste me and then we'll go chill. It's not fun. What do you make? You've been tased? I have. Oh, okay.

Poor choice. Okay. Admittedly. And what do you make in this job? Oh, sorry, I should probably have prefaced that. That was like a company thing. That was like a, yeah, yeah. Sorry, we were, it was like voluntary exposure.

I just realized, yep, yep. I just realized that you were probably getting the wrong. idea here but uh no it was an optional thing if you're a criminal you're a criminal you know you do you how much do you make in this job uh i brought in 60 000 last year nice and how much do you make about 48 okay so we are at 108 how do we feel living on Arizona this it's definitely a struggle just because everything's kind of jumping up in prices jumping up in prices yeah let's jumping in prices and by how much? Groceries, like, I think, were 12%, like, when I was just looking at, it was the Bureau of Statistics,

like, over the last five years, and were for whatever reason, 5% higher than the national average. In Scottsdale, Arizona? Just Phoenix, Arizona. Oh, in Phoenix, Arizona? I don't know about Phoenix specifically, but right now, just year-over-year inflation, and sometimes depending on the report, below 3%. Right.

So I think at the peak of inflation, you know, when we're looking at that nine and everything at that. That was certainly, you know, a harder time, especially when things like eggs and poultry, that went like insane first. That went insane. Man, it's easier to say, you know, if wage didn't keep up with them, you know, it's easier to say, okay, you know, times are harder. And for a lot of people, it really is. Yesterday, the median wage growth across the United States was announced today, sorry, this morning, that it went close. It increased by almost 4% year over year where inflation is at 3% year over year and sometimes below. So right now, median, of course, this doesn't apply to everyone.

It's this median is actually above. So it's finally, you know, potentially not only that doing a keep up, but maybe a bit of a recovery, potentially. Right. Labor statistics also came in, 4.3 unemployment rate. Yeah, higher than people thought. So either way, is that the reason why we're struggling on? Because whenever I hear immediately people say, inflation, the economy. I'm just like, okay, but what's actually going on if we look into your money?

Because a lot of people will just use them as cop-outs. There have a lot of people that have actually gone through hard things because of the incredible inflation that took place a couple years ago. Absolutely. Absolutely. But what I hear, someone mentioned it right now, today. Right. I'm curious.

And immediately want to investigate. I will say at least in, sorry, in Ellie's situation, she hasn't gotten a merit increase since 2020. You haven't. Nope. Like this is a battle she's fighting. That is because of the Department of Education. Okay. The Department of Education basically has a set amount that people can make legally without being compensated for enrolling students.

So this might tell us, is this the best job? How long have you been in this job? Two years. How long have you guys been together? Four. Married? Married for five days, six days. Oh, fuck.

This is new. Yes. Yes. Yeah, there's, there's lower behind that for sure. Well, before I, like, destroy you guys or whatever. Yeah, seems reasonable. Congratulations. Thank you.

Thank you. Appreciate it. Yeah. Just a little bit. So is your honeymoon being on financial audit? Yeah. Basically. Yeah.

Believe it or not. This is our honeymoon. Financial three-way. This is exciting. Manage Twan. What's going on, guys? What's going on here? So I think we probably would be less in this situation if a certain someone didn't have collections, we'll call them.

So collections of maybe miniatures and collections of ink. I was thinking financial. No, no, no, no, no. Collections of, like, things. So she collects, she collects the, the art that you see on her body is very cool, but she collects it, and it's very expensive. But, uh, how much have you spent in tattoos? Um, I have spent probably roughly around eight grand.

With the course of how long. Years. Alma now. I've spread out over the course of years. I mean, it's just, it's dependent. and a lot of things, whether or not that's good or bad. I mean, it sounds like your wage isn't keeping up with what you need it to, so that would make it like, okay, maybe that's the most responsible purchase.

But you're specifically saying that your new wife's collecting of different things, including the art on her body is, as you said, is what got you into the situation. I don't even know what this situation is. I mean, I went through your finances, so I technically do. But it's like, you know, it's a thick pile. It's a lot of debt. It's some of the highest credit card balances on single credit cards that have seen in a while. And there's some really high interest bad debt.

There's some Sally Mae, that private student loans. And you're saying we're in this situation because your wife collects things? I mean, there are definitely... We took out Sally. She's reduced. Because your wife collect things? No, that was definitely due to me going to school for way longer than I anticipated. So why is this about your wife collecting things?

Well, I mean, I definitely play a part. Sounds like you collected a high-interest Sallie Mae loan. Yeah, that's definitely true. That's definitely true. Toward the end of it where I was like a semester away from graduating and I didn't have the money to finish. And I couldn't start classes until I did that. I, you know, got desperate and was looking for any way to get a loan because I had already exacerbated. So what is this collecting thing, though?

I mean, that you bring up. So, I mean, she has a pretty. Just out of the gate, just like, yeah. I, well, it was more so when we first got together. She just had, like, collections of things, whether it was small backpacks or I don't know if you've heard of Funko Pops, but. Yeah, now I know because we had someone else on the show. Well, this one has more funco pops than days in a year.

So it's a fair amount of things that she would just buy, like, little one-off things. And they just show up in the mail where she'd buy them and be like, oh, I forgot about this. It comes six months later. And we're in this situation because of that? I mean, it's a contributing factor. I doubt it's the main reason. There are definitely credit card charges on my only credit card that may have been funco related a little bit ago.

What's a little bit ago? It's been about a year since I bought a fungo. But I was really bad. So why are we talking about that? Well, what did you tell me just the other day? What was this last week? Oh my God. So a few days ago, I decided to work with a tattoo shop.

And we're planning on doing a tattoo in a few years. And yes, because I'm not trying to pay for it right now. So what we decided was I was going to do a payment plan. And then by the time I tattooed. For something that she's not going to give for a couple years. Well, that's stupid. Why? When you do a payment plan, you get the product and you pay for it over time.

You don't pay for the product over time. and then get the product. So this is going to be a compensation piece. Do you get the car after you're done paying it off for a few years? So this is like an art piece. So you always pay, well, in most cases you pay before for the art piece so that way you can do it. How much is this art piece? That I haven't.

We haven't figured out yet. Should you be figuring out if we have high credit price? If we have sell, you basically have Sally Mae loans now. Basically. Yes, co-signed on. Because this one is a cute face. Oh, wait, really?

Yeah. So the student loans are all my loans. I did. Yeah. You co-signed on to his private student loans? Yes, I did. When you guys were dating? We were dating a few months.

No, not a few months. Well, we made a more irrefuscigning a few months into our relationship. Why would you do that? In what world does that make sense? So for me at the time, I was doing a lot better financially. I was bringing in like four, five K a month.

So doing something like that was... Why don't you do better financially now then? Well, working from six in the morning to one o'clock in the morning is not an ideal way to continue your life. Sure, probably not sustainable. But if we continue to live off of like we're still making that amount of money

and then we get into a bad situation, then we can't get out of that situation. And maybe it's a thing we have to do temporarily to get out of that situation and then budget like we're no longer in that situation anymore. So I guess my issue is is that because I basically learn to spend the money that I did because I made so much. Now that I make so much less, I'm like, okay, can I buy this? And I'm like, no, I'll just buy it. It'll be fine. And then I'm like.

That's what I just said. Yeah. Yeah. Okay. Making it make sense in my head. Oh, sure. But yeah It's

What In this How much you guys know about each other's financial situations And now everything What's okay and when did we figure this out Um probably Whenever we did Two years into the relationship

We started looking into each other's finances Like hey this is what I'm struggling with This is what I'm struggling with When we started paying off each other's debts So what are we struggling with now then we're not credit card people yeah trying to keep being honest with ourselves about that probably somebody needs to be honest about themselves what does that mean that this one makes a lot of purchases that he shouldn't be okay see i'm confused i'm confused because when i ask what's going on you say

you're into the situation because of her collections and now we're saying but we're in bad credit card debt because she's saying because you make a lot of purchases that you shouldn't be. So what the fuck is actually going on? What the fuck is actually going on here into this? Like what is legitimately going on? I mean, I definitely take risks when it comes to purchases like cars and motorcycles and attempt to fix them up and flip them. And the overall PNL across the board?

Overall PNL is not great. I'm sitting on a lot of sunk cost right now. so maybe we don't do that while we have tens of thousands of dollars debt and we're taking out sally m a student loans and we're having a girlfriend over a couple years at that time co-sign on them yeah and i think i mean i think i kind of echo sentiment on bleep the name oh uh uh ellie's sentiment on um definitely living outside of my means like going to school for what i what i graduated with in december just off for engineering yeah which i love it's a great degree right right

I kind of, I didn't anticipate the job market that I'd be coming into. It's a hard one for that. Right now, right. I mean, we've seen it be bad and we've seen it be great. So I know that the work will still be there. I just need to get myself into one of those roles. And so I think the latter half of my schooling, I kind of purchased with that kind of income in mind down the road. So kind of kicking that can down the road a little bit.

What did you preemptively purchase? Not necessarily individual purchases, more so just the use of the credit cards. I wasn't a credit card person until... You think you're a credit card person. Well, I think I know what the proper ways to use credit cards are.

But you don't do them, so you're not a credit card person. In order to be a credit card person, you'd be using credit cards correctly. Right. Even if you know how to, bad execution. If you know the law and you still break it, it doesn't mean it's okay because you knew what the law was.

Valid. But I mean, I understand like, yeah, I guess I understand how to use credit cards, but in practice. And why don't you? Yeah, it's the impulsivity. Well, I think the, I can convince myself that I can pay something off if I budget and then that's where I'm fast for it. Guys, I'm just, I'm just still confused. I want to jump into the stack because that's a stack, but I'm just legitimately, it was, so what's going on? and then it's like,

so what's what? It's just like, the other person's, is that just what I'm hearing? I feel like, the other person's, I feel like we're the same kind of f***ed and that's why.

And why are we deflecting? Oh, yeah, that's not, that's not cool. Right. I mean, happy six days. We got this.

We're on a roll. Doing great. You guys are doing great at being in debt together and not getting out of it. Okay, so I want to know, self-assessment where we think our now household financial score is zero being the worst 10 being the best I'm going to go three to one and then on go you guys are going to give me that score at the same time to see where you self-assess it so overall household financial score three two one six five everybody

wishes they could have a perfect credit score but in reality a rocky credit history can make things like getting a loan or approval for an apartment feel like running into a brick wall that's why I'm excited to introduce you all to the sponsor of today's video, Kickoff. Kickoff gives you a credit line just for credit building, not for splurging on to Kitos. It's as simple as making on-time payments and in the end, the credit bureau sees, your good behavior. Boom, your credit grows, no credit check, no hidden fees, and you can cancel any time. You can sign up in minutes, and the average user starting with Kickoff experience is a credit

jump by almost 30 points in just a month. Imagine that. Also, users with credit under 600 improve their credit score by an average of 30 points with their first on-time payment. Trust me, it's a game changer. And as someone who's toyed around with multiple apps in the credit space, I can personally say that the kickoff mobile app is not just easy to use, but the one I'd recommend. Kickstart your credit today. Join over a million people building credit with Kickoff. Get your first month for just a dollar at getkickoff.com slash Caleb.

That's Kickoff without the see. OFF.com slash Caleb. Special offer applies to new kickoff customers for the first month only. Subject to approval and only available at get kickoff.com slash Caleb, in terms of offer are subject to change. Don't let bad credit hold you back. Take control and start building your future. Head to get kickoff.com slash Caleb and get started now.

Thanks to kickoff for sponsoring this video. 0.5 and 6. Why do you think you're so good? I think that are you asking personally or for the both of us? you know why you guys think why you think your household financial score is a six out of ten above a solid middle um because one we can still put food on the table we can still manage to literally like a basic necessity okay yeah so we can still pay our bills we haven't gone defaulted or anything like that so the literal minimum makes you above like good job solid middle i think it does i think it shows that we at least can sit down and do the halfway point of what we need to do, which is maintain our bills, pay our credit cards, go through and make sure there's food on the table. And why is you wrong, 0.5? So if you just look at, I mean, you know, the debt that we

have is so egregiously bad comparative to like any other debt you could carry, that's why I mean it's just our high interest debt that I'm just like we're literally kind of on that end

yeah I've never I've never been in that much credit card debt so that's why I'm just like and I always know that my parents and the way I grew up they were always really big into credit card debt

and that's why their finances are always fucked financially ready for the commitment you guys just took on for a lifetime if you guys are so beyond disconnected on your assessment of where you guys are.

I think it was a little ready shoot aim of us for sure. I mean, I'm not backing out of anything, but... Oh, that's good. That's good to know. Yeah. We were able to figure that out today. Yeah, no, I mean, we've definitely got things that we need to work on. And the way I'm able to process things, the way that he's able to process things is a little

hard for us to sit down and be like, this is how we need to budget. Okay, if you guys aren't ever going to be able to agree on a budget, how the f- are we going to be able to get to agree upon goals? We did agree on a budget. We did have a small budget that we did do. And what the fuck is going on? Because this is not what people with budgets have. Yes.

So we had decided late to early this year, like late last year, early this year, that we were going to sell some of our bigger assets. So. What did you guys have? Well, so we sold, I had a car and I sold it, made 14K. He had gotten to a motorcycle accident, so we got paid out. No, it's not an asset. Titanium asset, I suppose.

But he got into a motorcycle accident. We got paid out for that. He had some bonuses that came through. And then we ended up pulling from his 401K as well. Decided that. No, but that doesn't, the, I understand getting rid of like a physical thing, like a car, but a 401K, I mean, you're going to take an immediate 10% hit at a minimum for early withdrawal. Was it a 401k?

Yeah, it was my 401k. No, it was my 401k. So you lost 10% on it. So imagine that as a 10% interest debt, essentially. Yeah. Right. And then whatever gains were taxed capital gains and potentially short-term capital gains depending. Right.

Probably actually, because it's done, it did fairly well. like since I've been paying into it. Mathematically, yeah, did that. Well, it gets worse because... It did. It did work. It did work. No, what got worse? No, I mean, it got worse in the sense that we used it to pay off a lot of debts, and now we've ran them back up.

It's because you guys didn't change your behavior. This is what happens when people shortcut to the debt. And I'm good with selling your shit to get out of debt. I'm good with that. I'm good with consolidation to get out of debt. I'm good with transferring to zero percent of interest to get out of debt. I'm good with those tools. Those tools are good. But not before changing behavior. If we don't change your behavior, if we don't change your

behavior we get into it again and now you have nothing to sell for it right yeah right right we've basically sold off every asset that we can and that's where we are now is that we i wish you could sell back some tattoos you know i if i could cut it off it might me all right if you want your hammer financial score it's free link in the description below also if you have interesting uh interesting finances if you have anything you want to have challenged uh and if you're an interesting person and you want to be on the show, go to Calebhammer.com slash apply. I always appreciate having people like you guys on. Thanks for being here, especially after just getting married.

That's really cool. Of course. Thank you. I have a PayPal thing. A PayPal credit, perhaps? Yes. That would be... This is under Mr. Joel.

Yep, yep. All right. PayPal Joel. This, we're sitting at $167.5. Now, that should easy be able to be paid off with your guys' income situation. Yeah. It was paid up. Okay.

Definitely was. And it's a $41 minimum fee payment. But, I mean, this should be able to be paid off every month. It's from a self-confessed credit card person. But there's interest being charged with $4.27. And you didn't, okay, so it's at $199. You put an $88 payment towards it, starting to make progress, which you didn't fully pay it off.

But it doesn't even matter because you purchased $50.085 cents on it. Yeah. And it's accruing interest. It's already such a small balance that you should be able to pay off, especially from a credit card person. Why are you putting more money on it in that case? Do you even know he is? Yes, I do.

And we're okay with this? Do we have conversations about this? We do have conversations. And how do those go? Normally, what the heck are you buying and why are you still putting it on these credit cards that we sold things? Reasonable question. I would love the answer to it. It was a convenience thing with Best Buy being able to buy through PayPal and put it off either in the paying for.

What? Do you care? With sales, like, if it's like, oh, you know, buy to get this plus a one. Also, incorrect, it was four Ubers. Oh, sorry. So, like. I was thinking of my other PayPal thing. Oh, yeah.

Wonderful. To be fair. To be fair, the Uber stuff was really odd because we. We took trips. And for whatever reason, like all the payments. either didn't go through or were on the wrong card. So all of a sudden I logged into my Uber app and I had like all of those unpaid trips.

I have no idea why. And so I thought I had my... Why did you put it up? Why is this your card though? It was the card that's already... It's a crewing interest. Attached to it and I just, I just was like, okay, we need an Uber right now.

It's lazy. I mean, you guys, you guys are newly married and you're not even 30 yet. Fuck me. That makes me feel great. Future wife. Happy life. No, I'm kidding.

I'm not that desperate. No, no. I mean, then you don't have to figure out this whole thing where we don't communicate. Or would that be like right out of the gate? It's like, is that how first date's got to go? It's like finances on the table. Yeah. Is that what you would have suggested for us?

I either put the finances on the table or her on the table, you know? Facts. Maybe the latter. With those lines, I'm surprised he's not married. Oh, okay. What are we doing? All right, well, that's, you know. I don't remember.

I'll move on to the next card. Yeah, that one's pretty silly for sure. Oh, just in general. You guys just got married. We're not in the 30s yet. We have a long time to go. Have you guys discussed where you want to be? Oh, absolutely.

You want to get to. 100%. Okay, and where is that goal in when and what? The goal ideally would be to live or own a home in Phoenix, so that's one. And then we have family in Montana and maybe Colorado here soon. So we'd like to own somewhere to go when it gets a little hot. Yeah, yeah. Okay, summer home.

Okay. My parents have land up in Montana, so I'd be able to build something on their land sort of thing. So it'd be. I know that it gets a little, come on. asset ownership gets a little weird there. Yeah. And I would rather you at least own the land that you build on. Definitely.

That would be the end goal for sure, but it's, it's helpful to like, get you on the deed. Yeah, have something on there. And I have siblings too, so I honestly, I don't even know how that's going to work. If that starts getting complicated, I wouldn't do that. Either way, that's long term picture. Is that it? Yeah, we really, well, no, we really want to, that's like the lifestyle we want is being able to, they call it snowboarding in Phoenix.

and we want to have remote jobs so that we can live in both those places and potentially are we ever going to get a down payment on a home if we're not sacrificing it anyway whatsoever to get out of debt if we're not really if we're blaming each other for why we're in the debt if we're still spending on cards that we can't fully pay off that is already out of small bounds that you should have been able to pay off anyway what are we doing yeah being irresponsible and yeah no shit no shit no shit but we're your goal must not matter that much then. The short-term gratification must matter more.

Well, I mean, no, we definitely care about our goals. Not enough to put effort into it. I mean, we work toward them. We definitely, like, make plans. Minimum payments. Okay, cool. So you'll get a home when you're 95. Yeah.

I mean, you already told us not to blame the market, so that excuse is out. Well, home's heart. I mean, okay, well, a part of the thing that we can blame when it comes to the market, is right now, I wouldn't say that anyone and everyone should get a home because maybe renting makes more sense or not. We're not talking about you guys getting a home right now anyway, but renting mathematically makes more sense for a lot of places at this exact moment. If rates go down to a point where it makes sense with a home value plus the interest rate on the home, the payment makes sense at that point where it's more affordable to buy a home,

then yes, let's do that. But because, of course, home rates tend to only go up. Yeah. And property taxes tend to only go up. You're right. It becomes harder and harder to afford a home and it takes longer and longer to afford a home, I can sit down with you guys in your income situation and be able to get you guys in a home within, you know, a certain time horizon for sure. I could. Really? Well, yeah. I mean, the time being the factor we don't know, right? No, I'm just saying that where it's like we can, there are certain things in the market that make it harder, but you guys have the ability to do it. We're making it hard on the payments. It's not making it hard. You're making it impossible for yourself. Right.

minimum monthly payments across all these debts are I need to go into these debts more so the people out there know what we're talking about so let's talk about this desert financial credit union um as one's the lower interest rate debt but what even is it what did we take out why is it 19,335 dollars what's this even for

so this is our Jeep this is our car we have a one of the car loans because I saw another one didn't I? yeah that was for a motorcycle oh great necessary okay so The Jeep. We'll be getting a job here soon that requires me to ride motorcycles, so.

Okay, we'll talk about that when we get to that. Then $19,335.35 zone on this. It's only a 5.4% interest rate. Usually for cars for the minimum fee payment until it's paid off, I usually like to be like 3.5 or less. Oh, wow. I thought that was good. No, and honestly, for cars, depending, especially compared to a lot of people on showing where rates are, it's not bad.

But it doesn't mean that I just want to let it sit there, though, is what I'm saying. Oh, I see. Now, in the debt payoff strategy, it'll probably be the last. But also, just a $20,000. It's, you're only able to make, you couldn't even pay off your PayPal card at $167 and we have a $20,000 car debt. Like, is that one makes sense? Yeah. And plus, what do you think it's worth?

That one was another one of my. What do you think it's worth? I'd say $10. She wins this one. It's worth $10. It's worth half. of the balance you owe on it. Yeah.

Ask us how much you spend on it. What you to spend on it? 30 grand. So when? When? When? Back during COVID time. So 20-21?

Yeah, it was like 21. It was a weird time for cars. It was like three. It was a weird time and I was trying to finesse like having a vehicle with like the certain trim that was going to hold value. But I didn't take a new account. How'd that go? The mileage got to it and now it's a tank. Not just the mileage.

bought when the car market was like at like a peaky peak. Yeah. We used car market especially. Yeah, definitely. You're competing against that. I mean, we haven't gone back to pre-COVID levels and we're probably not going to, but either way, like, you got it when, like, it was pretty clear that there was a lot of supply chain issues. Yeah. Like, I think anyone with the brain would have known that a used car would have gone down in value at some point from there because the world would pretty much, the entire world economy would pretty much be over if the supply chain's never caught up.

so there'd be no point at that point anyway. And we already had two cars. So we're sitting here with a $20,000 loan that we didn't even need. So this was just a bet on it maintaining value? What do we even want the... So we didn't even need a car? Why did we get this car in general? We wanted a vehicle, right, that could go up camping and could go do a lot of the things that we like to do.

And rent one for a weekend. Let's take a second to talk about something super important. Did you know that almost half of Americans wouldn't be. be able to cover a $1,000 emergency expense. That's why I'm excited to announce the Caleb Hammer $1,000 savings challenge. Over five days, starting August 26th, I'll be sending daily instructionals and exclusive videos to guide you through the practical steps to save your first $1,000 all for absolutely free.

And this isn't just for those who have some extra cash to put away right now. I want to teach you the habits and skills it takes for a lifetime of smart saving. So grab your free spot and join me along with thousands of others and develop skills that will pay dividends throughout your lifetime. I better see you there. So check out the link in the description and join for free today. We go up more weekends than that. Okay, maybe you can't because guess what?

There's a pile of debt here. So fuck you. You want to buy a house. So maybe you. Like, we sacrifice things for our wants. We sacrifice things for our needs. If you want to get a house, we might not be able to have a $20,000 loan in order to get to camping.

But you've got to be able to, you know, enjoy your life. I agree. I agree. You know? And if that's what you want to do and this is what you value more, go for it. If this is what you value more, go for it. If you want to be in debt for the rest of your life because the lifestyle that is bringing you is more enjoyable than ever being able to perform a home, ever being able to retire, ever being able to sleep without the knowledge of the debt over our head. If that is the life you actually enjoy, go for it.

I'm not against anyone living the life they enjoy. It's not the life I enjoy, so it's not what I preach. But if that is the life you enjoy, do it. I think it will cause more stress and pain in the future, just based on the overall American economic system and how retirement works. And I don't think we can rely on Social Security necessarily. I think it would be a mistake. Yeah.

But if you want to, you can. Yeah. I mean, I guess we just, that's like one of our really big bonding things. things is is being able to go outdoors and like commune with nature and and hang out with each other. Communing with each other instead. Well, yeah. Gross. Okay.

I don't know. If you go on a walk in a path, there's, is there, does outside exist in Phoenix? Well, not, when it's 115. It's not as bad as here. Honestly, your weather sucks. Yeah, it's humid. It's really bad. Dry heat's better.

And pick spray bolts. Yeah. Okay. I mean, so we like to go up north and like that's a, that's a, that's a, I like you to. Choose. Sometimes. I'm not saying don't ever,

but maybe not as frequently. Choose what's more important. Getting out of debt. House? Going up north? Yeah. So you're saying don't go trade in the Jeep for a new Tacoma. Is that an actual consideration?

That was an actual consideration. When? Okay. So the Jeep, the Jeep ended up, we ended up not being able to drive it. First of all, we had to go to one car. the Jeep because my other projects aren't working right now.

Because apparently you have no idea what you're doing, so maybe quit this sidehouse. It's definitely more of a passion than it is. I'm not efficient enough to make money at it. Loving cars. I can fix them, but it just takes too long. We don't get to do hobbies right now. Yeah, that's fair. But any of you, I was down.

We can. We can. It's just hobbies that literally prevent us from like staying alive. Yeah. So we were down to one car and the Jeep ended up being down for, two months and that's with me getting professional help with diagnostics, everything, trying to get it back on the road as soon as possible. And when we finally got it back on the road, I was able to start going back to work and I was like, we need something more reliable. And so, at least

mothers worked at dealerships and Toyota dealerships in the past and she's like, they're super reliable. They have great warrant. Like, let's go in there. But you'll be happy to know that when I saw the interest rate, I said no. Because it was insane. So it's not a consideration? Not anymore. Okay. I mean, well, we are wanting to sell the Jeep so that way we cannot get out of it

and at least into something that's reliable. It's back in the garage and not running right now. And I need a vehicle to get to work. Sometimes like the method to get out of a debt like this is to borrow the difference and then get a $10,000 on a car. But if you borrow the difference to get a $10,000 a car, you have a time. 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 ellixir 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 20,000 hour alone again yeah i'm already so seven under mathematically or sorry 10 under Thematically, it's just like... Well, Toyota's willing to give us 12 is the reason I got seven, but... As of when? As of, well, before it was not working right now, but... Huh?

This was last month? We went? Last month. This is her... Yesterday, she decided to tell she had issues. This is her mom, like, pulling in some favors and things like that, and... And now she can't? Presumably, because they don't know that it's not working right now?

Yeah, probably not. Worthless. The... Arjeeb is worthless at the moment because she's having misfiring problems. No. Yeah. So the thing we're already $10,000 under on is like... That's what I was in the garage working on all night last night.

Oh, my... Fuck me. So it's... So it's not reliable. The scraps. Yeah. I mean, it's probably just a fueling issue, to be honest. Then fix it.

You're the car guy. I'm the car guy. I am. I am. I ruled out spark in air, so it's got to be fuel. Yeah. Only three things that it needs to run. So when you were leaning on your mom working at this?

Just to get us a good deal. Wait, who's mom? Ellie's mom. Yeah, my mom. You guys lean on her for anything else? So we lean on my mom for not much because I tend to be more on the creative side. I get leaned on when it comes to her business. So she, I'm explain, I'm explain.

You're explained. So I wanted to get into my own business by doing something creative. Started it off with doing resin. It's like the stuff you pour into molds and make stuff out of. Okay. Yeah. Apoxy. So, yeah.

Did that for a while. Then wanted to branch off to doing strictly products for different dispensions. Sensories. Definitely not oversaturated. Yeah. Right. So realizing that, I'm like, you know, I'm not new into this. So now I want to make my own clothing. So because my mom is a travel agent, she has her own little giveaways that she does. So she invested in the cricket machines. So that way I can make her t-shirts for people that she needs to give and stuff like that. cutters and presses and stuff. Yeah. So I do her advertising, basically. So she provided all the stuff that I need to do that, and then I do it for her. What are you making from this?

Nothing from your mom. Yeah, nothing. My mom bought everything, so that's the deal that we had. So you do it for free? Yes. Mainly the reason why. So what the fuck is this point? What's the, why?

Because I want to start my own. clothing line that... Wow, another easy market to him. Focuses mainly on mental health. That's what I want. And as someone who's a very big mental health proponent, I'll ask what the fuck. So mainly like...

What is that? What is that brand? So, I mean, you go around, you see everybody's shirts and stuff. Here, you have an extra chromosome. Here's a shirt. I'm like, what is the brand? To put out messages that can reach not only you, but also reach other people. Do you have examples of this?

Yeah. Yeah. So I don't have physical examples. Do you have it on your phone? Everything's written down. It's all outlined on my iPad and everything. Okay. So what would you put on this dirty money?

I'm an assets man. So for that, I might put something that says you are enough. And then right here on the sleeve, it says, I am enough. So that way when you look down, you can always. remember that I am enough, but for you sitting across from me, I can remember that I am enough kind of thing. So I have messages on the back for when you're walking down the street, people can read them, feel better about their day kind of thing. I like, they end up looking really cool, like, really dope when she, when she does them. And it's like, they're, they're, like,

done in that, you know, designs like Supreme and, like, these other brands that are just, that are just a logo. What I work of research have you done on this in terms of potential consumer interests in competitors to this kind of space. If there is demand for this, and this isn't always the case, but if there's demand of this, there is likely something. I mean, when we go to the markets, like in Arizona, like the open-air markets, the car shows and other things, other events like that, people who are selling those types of clothes, we knew some folks that were doing that and, well, they had to close up shop, you know,

I feel like they were fairly mismanaged. A lot of people were putting themselves a little too thin and deciding, hey, let's sell clothes. Well, now let's also do candy and let's also do this. You guys have over 100,000 hours of bad debt. Yeah. So what the fuck are you talking about? They're running thin. Oh, I meant like the other companies deciding to add on too much of the plate.

Yeah, but you guys already have such a hanging, steaming pile of risk over your head. Right. And this also, this sounds more like a farmer's market. pop-up not a business I mean ideally with the online stuff right yeah I have to start off in the pop-up area right now I'm only going to my gut I can't tell if I can't say if it would be successful or not it sounds like it's I just it's it's hard done so good luck the thing is with the pop-up shops during the summertime for Arizona is not big it's too hot outside so majority of the market is going to be in the fall, spring, and winter times.

I love a six-month window for all of our products to be sold. Yeah. That's where the online presents would hopefully kind of carry you through a little bit of that. A lot of it is so far. No, I got it. I got it. And your mom invested in this essentially so you could make her clothing for her stuff? Yes.

So that way she didn't have to. Because she was already paying like, you know, the Vista Prince, the other people to print stuff onto T-shirts and Moll. and things like that. So she got her the supplies to be able to do it. What was your degree? Graphic design. Okay.

I mean, that industry sucks. Yeah. I got my degree from a school that closed down for fraud, so. Well, did you get your student loans forgiven? I did. She did. Like last month, so I got no student loans.

That's good. Was that in the pile? It should show that there's student loans, but they're all paid off right now. Okay. Did you tell our producer? I think I think. I think I mentioned it that these are a thing, but they should be gone soon. So I imagine it was disregarded, maybe.

You did not tell us that. So that is not an honor of financial plan. Just kidding. It was like 17. And they asked you an hour ago. Okay. Yeah. That's true.

Which is okay. I mean, I'm glad it happened to you guys. It's hard for us to have a full concrete picture of a situation if people did not tell us the truth. Oh. I thought I put a note next to there, my bad. so we have this southwest card that shirt business there's this is my dragons my beast and but and you're focusing on mental health too so it's this it's more positive affirmation right mainly okay it's not like i mainly had this idea it's like yeah you'd be a little happier type

yeah it's not like mental health not like mental health okay well and the the like letting everyone you know you had the one that talked about the hotline to call if yeah has a hotline on it if anybody ever needs it. Is that what you want to wear? Well, it has it like on the back. Like on the back, it has that the 9-88 number and just so that way people are aware that they have somebody that they can call. I think she finds it empowering.

And I think there's wonderful. I get that. There are definitely other people that feel that way. Well, that's wonderful. I love that you feel good about it. And I like that it actually could be cool. I actually like the heart behind it. Right.

I like that. I'm literally thinking about it from and business economic. perspective. Right. I mean, I have had sales for sure. I have had people come through and buy my hoodies and stuff like that. But for me, with all my financial debt and everything like that, it does. Yeah. It does kind of put a damper on it because it's like, well, I can go ahead and start making money in this, but I don't have money to sink into this to make it a actual profitable business. Well, not to tangent too much off on that subject, but like she's like her best when she is working creatively.

And that's the tough part about her current job is there is no... Oh, no, that's great. And I love that for you again. I'm not against this as a concept in general. I'm literally strictly thinking

flat down, no emotions involved business. Right. And that's where I struggle with this as a concept. Yeah. But... That's fair. I would love to be proved wrong.

Maybe. Because that would mean... That would mean you're successful and I would love you to be successful. So I'm okay with being proved wrong. But, you're also considering doing that at the same time of having the south west rapid rewards card this is your card this is my card yeah it's your card and you literally owe 14,491 on it which is absolutely

insane that's crazy with a with three hundred fifteen dollars of interest accruing on a monthly basis in 33 cents at a four hundred sixty dollar minimum monthly payment now we're at a forty one minimum of payment, $589 minimum monthly payment, and $460 minimum monthly payment. They are stacking. They are stacking. They are stacking. How do you have this?

And why is it basically at its max? So, especially if we've been on the same page and we really want to get out of debt because we really want to start a business. Yeah, it's only a couple hundred dollars from the max. Yeah, so with this card, originally got it because I was going on vacation,

out of the country, needed something to protect my debit card. so we got the credit card. Okay. I hated the credit card. Didn't want it, but got it anyway. It was advised I needed it. So push into a corner kind of thing.

After that, it was only spending it on gas, only doing it this. And then things started coming through where it was like, you know, I can just wait until I get paid. And then you start trusting yourself a little too far. And then you end up with that number. when you realize that you can't control it because you aren't doing you're not putting the things on there that are supposed to be there

to help build that Of the course of how many years Well That's also the card that we did the balance Transfer Why is it at the max? Why is it at the max? Right now though

Because we did a balance transfer On to here? No. No off of there On to a Discover card We did a balance transfer I'm confused Is this at the balance

Oh sorry It was a higher balance Or sorry, you had a higher limit. You had a higher limit when we did the balance transfer. We had a higher limit on the balance. We did a balance transfer. Split the 14 down the middle. Seven and seven was on the cards.

No, because it was higher. It was like 20 something at the time. No. Listen. No. You're not a credit card person. No. I don't use a charge card like the Fizz card.

You guys can't use any other cards. You don't know how to. You really don't. If this $14,491 right there, if I open my Moomoo app, my brokerage, and I bought S&P 500 just got like the SPYs in that 14,000 that is sitting there at 30% interest. If it instead followed over the next 31 years until you could pull out penalty free of a

retirement account at 59.5. It'd be sitting at about $317,000. $317,000. But again, instead, it's just sitting there. It's just sitting there. And we're talking about taking time away from where we could be earning real income and investing in a business that might not make money and we're talking about getting

a special vehicle so we could go up north. We're talking about potentially getting a second home, all this kind of all these different things, all these choices. Well, we're just putting the minimum payment towards this. A card that is sitting towards its max

at 30% interest. While we drain a 401K, our choices are out of control. Again, if that life you want to live, live it. No, definitely. Live it. I'll silently judge, but live it.

Okay? Or we can be adults. Financially speaking, life speaking, partnership speaking. We can actually sit down and start working towards us instead of going up north every three seconds of our life to connect with trees. I feel like we're really downplaying how nice it is to get out of the city and get away from people. Down plain. I'm sure it's great.

choose getting over people or this balance which one which one I mean choose the the balance I want to get rid of this balance cool this is that's not bringing up the how nice it is I don't give a shit I know how nice it is to pay off that I did it it's great and guess what now I can afford to go hug a tree whenever I want to and you do you commune with nature often is it does it feel nice how they go on like nature trails nature trails that I mean that's yeah that's cool taking my wall dogs and letting them go for swims. Yeah.

Isn't that awesome, though? Yes. Yeah. I wouldn't be going for getting a $30,000 car that went to the van. Hannity presents. In the red corner, the undisputed, undefeated weed whacker guys. Champion of hurling grass and pollen everywhere. And in the blue corner, the challenger, extra strength, Hannity.

Eye drops and work all day to prevent the release of histamines that cause itchy, allergy eyes. And the winner by knockout is Padaday. Padaday. Bring it on. I'll have $10,000 to do it like a dumb... That's fair. Apple card. Who's Apple card? This is your Apple card.

That's my Apple card. What did you do here, buds? How many trees did this cost? The Apple card, that was one that we paid off when we did a lot of like debt consolidation and things like that. And it got brought back up because I committed to a trip to Thailand. We committed to a trip to Thailand a year out.

And it was this last March. Yeah. And so I put the flights on that. I put the flights on that. Why are we going on trips, guys? I want you guys to go on so many trips. You have no idea. It just makes no sense now.

Why? Why? Why is Thailand more important? I don't understand. I think we... It was an opportunity. Opportunity to rack the card all the way back up. Yeah. I mean, we kind of looked at it as we could do this as our honeymoon and after our actual wedding, and we could do something like meet with Caleb Hammer instead of going on a trip like most people. So you'd want to get yourself financially first?

Well, I didn't think of it like that at the time. I thought, you know, we'd have quite a few months to pay it off. And how's that going? Not very well. It's that minimum monthly payment is pretty much all. Yes, we're stacking it with another $291 minimum payment with a balance of $4,792.30. Yeah. Yeah.

That one definitely not proud of because we, again, had it paid off at the end of last year. We had paid off a lot of cards that we had agreed not to use. And at some point, some of them started to get used. that one yeah i was a little guilty about canceling on my friend too for the trip because other friends had already canceled and i was then he's used to it i yowch that's stuff thanks i mean i don't want my friends to feel like i want to either do you understand just the impact this is having on your lives guys yeah plus we're still spending on it friendships are important what is this what is $685

of Hertz Oh, that was when the Jeep was giving me trouble, I ended up going through Uber's rental program

and so I would He was doing Uber for a while. Google domains? Yeah, that's my domain. I was doing

You have a domain. I do. I was doing IT consulting for like three years before this. And I stopped just because I

went down to one client and then that client did we need to still be paying for this? Probably not. probably. I run a couple of, I host a couple of, like, projects off of it too, but what's Evego services? That's charging. I was, I was renting EVs. I was testing the viability of EVs over gas cars. I found out the infrastructure is really not that great right now unless you're charging really fast at your house with solar panels.

That's where, that's where the savings can come in. It works really well if you use it as a daily commuter. yeah i mean i was doing that and ubering with it yeah i don't know about the ubering yeah that was probably too much as a daily commuter it saved me money but but not when you have to charge all the time because you're running out of battery midway through the day yeah that was an attempt at like a second second who has the freedom card the freedom to get i think we both have one nope no that would be just you that's just me all right what'd you do

because we're at $3,841 and $23. So you're done around with EVs? Yeah, no, no, I ran the numbers and it was not great. It was losing money.

He had the Excel spreadsheet to make sure that the numbers and the numbers are... All right, what's going on? So this one, this one, I think I've just had a balance on it for a long time and we we started to pay it off.

We started to pay it off when we when we consolidated all the other debts, but then, and that was like the next card to get taken care of in our snowball. But then we started to add more balances to the other cards, so it kind of

negated that almost entirely. We also spent eight grand. Most of these cards I haven't purchased on in a while. Makes me a little nervous that you guys still have access to them though, because again, last time you paid them off, they just went right back up.

Yeah. Yeah. Yeah. I mean, it just ends up being something that we either need to pay for, or I mean, obviously the Thailand trip we didn't need to pay for. But, and when we don't have cash, it seems like the only other option. And then the thought is that we'd pay back off. When we get paid.

When we get paid. Or not when we get paid, but like overtime after we've. And it's not. All of these plans. You guys have all these plans. We're good planners. We're really good planners. Yeah. Oh, yeah, you're great at making a plan and you're absolute dog shit at executing them.

So maybe take a realistic plan this time. Go through the budgeting program. You guys get it because you're a guest on here. Go through the budgeting program, the investing program. Go through them. We put so much time and education and resources into them. Take them together. Take the quizzes.

Learn how to do it. Actually stick to a real life proven plan and be disciplined on it. because I think you guys are also just not disciplined. Yeah. I don't think you guys don't want to stick to anything. You probably started for a day. No, no, no. We had a good thing going, right?

We did. We did. When we consolidated debt. We had a really good thing going. Wonderful. That matters. Until somebody needed to buy a car that was 30 years old. Is that a different car?

Eight grand on it. Yeah, that's a different car. And it has been in a shop. We haven't seen that. Can you get rid of it? Can you sell it? If you sold all your bull- little projects today, what could you get? Conservatively.

Conservatively. So I'm just going to say because I've put money into the car. Yeah, I don't give it. What could you get right now? For that one? At least... No, all your projects right now. All the projects. 15. Conservatively.

I heard you guys wanted to get dirty. Again. Dirty money is back. And this time you're going to be a lady in the streets. and a freak in the sheets. And you know who you usually meet in those sheets? I'm personally into BBWs, budgeting, bonds, wealth. And this sexy merch is only available

through the end of this month, and then it's going away. So to give you a little extra sweet treat, we're bringing back the classic dirty money as well. BDSM, sluts for index funds, finance daddy. If this isn't for you, you can eat my assets because I am myself in assets. assets, man.

Go to Calebhammer.com slash dirty to check it out before these designs go away at the end of this month. And as an extra special sweet treat, every order over $100 gets your favorite asset signed and framed the hammer dump truck. Six, please do it. I don't give a shit if it's a net loss in the end. Play around with money when you have some. Yeah. You don't. Take it.

Pay off this card. Pay off another card. This is dumb. $35 per dollars in interest. another $157.57. Minimum monthly payment then about to $3,841. and $23.

Just continues. What is this? Oh, is this like financed over time? Something. Yeah, so that was repairs. That was repairs for the car that we were just talking about. Oh, what is it? 22% interest here.

What is this? Finance charge for total payments. What is this? What are we getting? Approval for what? Amount finance? $7,390 for what? What do you get?

What happened here? That one? What's a prepaid finance charge? What is this? Cross River Bank. What's this for? Cross River Bank. Because you don't even know what you don't get that's for.

We have so much debt. We don't even know what it's for or who it is. Probably look at this and tell me what it is. Is that what? Oh, that does sound right. That does sound right. We don't even know. Yeah.

That's, we're so disorganized. I thought it was a different loan. We're so not knowing what our financial picture is, 0.5 or 6. We don't we are so uneducated about our own situation Because we're literally just putting our heads in the sand and just going forward and trying to survive and we're proud than we're making the minimum monthly payments And that's all we're doing instead of making any extra progress that we don't even know what a debt is Oh, that's 22% Oh my f you didn't even know I didn't know that

I didn't know that one And why are you do you need a motorcycle because you're gonna have a job that requires you to have a motorcycle? Huh? Yeah, what's happening? I I I'm going to be a MSF course instructor or motorcycle safety course instructor. And you need your own bike for this. Yeah, they're required that you ride like relatively, I think at least once a week. And then they want you to teach once a month. So they just want to make sure that they're going to make from this. Once I'm, once I'm fully trained up.

Which is how long? Which is three weeks after three weeks from now. I'll be, I'll be trained up. I will have taken, I will have essentially watched other coaches coach for a week. And then how much will you make? $538 per weekend. So two days. So it's just a weekend.

How many weekends? You can work. I mean, people have done six weekends in a month, but they suggest you don't do more than four. Weekends? No, like you can work during the weekday, too. You can do classes on Thursday nights. How much are you going to be earning on a monthly basis from this? close to like $537 like just just what's if you does it every it's even worth two grand two grand if you did it every weekend and that's worth having or sorry if i did it every weekend uh it would be closer to two grand yeah i might force you to because you're a 22.92.92% interest rate if this is your justification for having the motorcycle then you're going to need to put your work into it buddy that's fair big guy yeah no more weekend trips up to the tree land well 22.92% interest rate of death well i i i

I forgot. I got to put some context to that because when I got into motorcycling, I was never planning on purchasing a new motorcycle. I've only purchased old motorcycles for sub $4,000. This was actually when Ellie wanted to get into motorcycling, we went and I got her a motorcycle for $3,000. It was awesome. Great bike. She dropped it immediately, hurt herself. And I just felt really bad at that point. And when I asked her out, I was hoping, you know, in the back of my mind, I was like, maybe it's not for her. But when I asked her, she's like, I really want to get back on the bike. So I felt really bad.

And I was like, okay, let's go get you a new safe bike. Gives you the best chance of staying safe on the road. I was really like... Your ease of going into death. It's ridiculous. Yeah, I was blinded and a little scared because I was like, if she's going to keep riding, then she dropped it again. Yeah, then I dropped it again. And she dropped it again.

So now we're taking a break from motorcycle. Now I'm not allowed anymore, pretty much. How is this bike? Fine. It's fine. Oh, but you need it. now I would use it yeah cosmetic damage

what's the minimum monthly payment on this because it's not on here $192 yeah the dyslexia got me I know you got me too with it I was like we just looked at this

you can have a sweatshirt for dyslexia just have just yeah just it's gonna say list dexia but like really really important letters like I forget what words you can mix around that you know like truck

that make a bad word you could do it like that see that's funny you would wear that shirt we're doing market research you would you would wear that shirt right what if it was like a dyslexia shirt that accidentally said you know oh okay yeah I think that'd be kind of funny it's like oh sorry I'm dyslexic maybe you're looking through some like glasses or something yeah see brainstorming we're gonna make these businesses happen your brains dying that's that makes sense uh what's how much

is left on this because it doesn't say this is like your original financing approval oh really I don't know the... We're down to... Well, that's kind of interesting because I thought it was higher. I think we're down to seven. We're down to seven. I think that's a recent copy

because the original finance was 10. You finance was 7. 390. Yes. Oh, wait. Your finance charge over the course of the payment periods because of the 22.92% interest

would be an additional 5,000. Oh. I thought I could have sworn the finance cost was 10. I thought it was 10. I thought it started at 10. down to seven. We've only, we've had that. Is there another debt in here?

Well, yeah, I mean, no, no, no. I'm sure that some of the, uh, okay, yeah, because principal went to eight. It started at eight. Maybe it went up after that because, I don't know, it started at eight. Yeah. Okay, so it's at seven thousand. Okay. Hey, holly. This is your, where, it's mostly you. And you try to blame her out of the gate, so. Yeah, that's fair. If we're... Looking at the numbers. I mean, yeah.

A slate card. Haven't had that on the show, I think. That was, I think, my second credit card ever. $5,647.99 with another $194.000 minimum payment. These are stacking. These are crazy. This is ridiculous. No purchases, but $137 of interest. Yeah. Again, it's close to the max, of course, because all your cards that you conveniently don't use

are all basically at their max. Yeah. But I don't give myself access to them anymore. I wouldn't. And I don't, part of me wants you guys to close them or something. I just, I don't know.

Doesn't that? That affects your credit. It does, but guys, what happened last time? You paid off all your debt. You built it all the back. Are we just going to be doing the endless cycle

until we're, like, dead? Like, I don't know. I'm just, I'm scared. Yeah.

I'm scared just based on your actions and lack of discipline. and your ability to manage finances in any way whatsoever. Okay. You're getting better. Sorry that my voice is harsh, by the way. I was sick at the beginning of this week. I am not time.

Okay, cool. I was like, wait a second. No. I was vomiting out of both holes. Oh, and. Oh, no. It was. Did you eat some deli meat?

There's apparently something going around. Boar's Head. I did not. Don't eat Borishead deli meat. No, watch Deadpool, went home, died. But I feel good now. This is my. Probably because of the movie.

The movie was amazing. No, we went and saw the first Deadpool in the movie. Hey, they probably was some triple feature somewhere. Right. Some people spent the entire day of the theater. We did get to see the new one on our wedding day, so that was fun. That was cool. Oh, that's cool.

We went in our wedding dress and suit. Yeah. Other PayPal credit. And it's yours again. Yeah. Yeah. So you have two. My gosh.

I think one's a card and one's like their, their credit thing where you can put it on and pay overtime kind of thing. It's crazy because every time we record a post show for these, it's an extra 20 minute conversation and attached to this, usually driving into some more of the drama where this is more finances,

that's more drama. But this is already such a long episode and then we're going to have an extra 20 minutes and some of talking today. Yeah. I have a lot of little cards. Not little. Buddy, we've only been over two that are little.

And the fact that you haven't paid them off is a joke. Honestly. Like, I would be embarrassed. $226.24 with a $30 minimum payment. No new charge is good.

Good, good, good, good, good, good, good. 29% interest rate. Nothing good interest right in here. No. Well, no, the car. The car is all right. I don't know if it's good, but it's not a bad interest rate. Upstart.

So what are we doing here? That's right. That one is kind of what got me started on, or, yeah, what kind of got me started on the buying used car? and trying to sell them. That was like my initial purchase of a car, and then I've just been flipping them

and getting the next one, but not paying off the initial startup cost, I suppose. So I've just been paying minimums on that since. What's the interest or fees baked in? I know there was an origination fee when I initially took it out. Oh, it's a 20%. It's not good. Guys, it's not.

Are you capable of taking out just like loans that are not 20% besides that one car this is insane 20% are higher you're addicted to it you're addicted to it injecting 20% into your veins I feel I feel like I those I don't remember exactly when that one was that must have been long time ago you know 4, 264 dollars and it's a $207 minimum payment yeah it was originally eight I imagine so I've gotten good about not opening the new credit but now I just don't think that's no I mean, that's a step. Again, the things that you guys are proud about are literally the basic minimums.

Yeah. Which, I mean, yes, woo, congratulations, but... Surviving. Every time you pay off debt, you build it back up, and you are not sacrificing to get out of debt in any way. You're choosing these vacations and bullshit. We haven't even gotten into your spending yet. Oh, dear. Yeah.

I mean... Oh, there's that... Sally Mae. Yeah. She's nasty. It ranges from 14% to 17.5%. This is a really bad student loans. Honestly, I didn't even realize that they were variable like that.

I thought it was the rate that they showed me at the beginning. $38,019.46. Yeah. Minimum of the payment. Oh my gosh. These fuck stacks so much. This is going to be an insane part of your budget. $579.28 cents.

Those I'm called. them and I had to get back to them because I didn't have all the information, but I'm supposed to be able to get on like a graduated plan or something like that where it's smaller payments up front and then they ramp up toward the end, which I know is a terrible idea. That's a horrible idea. I mean, you're almost ballooning it in a way. Yeah. I mean, you're just putting, you know, you're like, if you don't fix your situation by then, you're so f***. Right, right. There's so much risk involved in that. It can help you right now, but it could be. Yeah. It could fuck you. Just in the time that it takes me to get like hopefully a software engineering position which is going to

somewhere come close to like 40 like 40% are up or higher my income yeah and I'm rooting for it man I hope that job market uh so it's recovering a little bit more um yeah it's only the data we got in the in the job market today just they just want a lot of experience right now is the problem and there's a lot of really good engineers looking for jobs you're going to have to go out there you're going to uh I call that you can that you do and Blank on the word. Oh, never mind.

But yeah, I mean, I've worked with a couple of, like, or talk to a couple of friends that are running cohorts out in, like, New York and San Diego that can help me essentially work for free, but get my names on some of these projects and some things that will make me stand out against, like, a really tough market. Because everyone with entry level projects doesn't look really good against everyone else with real world experience. And I'm always happy to also. It's not on software engineering, but if there's ever a desire from any of you or someone you guys know,

I'm able to gift the one course career certification, which are always good. And they're even coming out with sums for the trades for plumbing and stuff like that pretty soon, too, which is really cool. So I'm always throwing that available. I want to give you every resource possible. We appreciate it. Now this, no, I always struggle to say, no net, melnet. Those are the student loans that our gracious leader took for, me so I don't owe those you're sure are they what what's the what's the balance yeah what's the balance

I think they're mine 60,000 dollars yeah no those are mine just kidding those are we actually don't have yours so okay yeah I thought maybe these were yours yeah and we wouldn't have to look at them anymore yeah we didn't have an additional 60,000 dollars to the loaned debt yeah how many years were in school uh I switched majors twice and I was yeah I was I was going to school from yeah I did it so did I probably the worst I I might have topped you I think I did it the worst way that you possibly could have done. I went to a private school to be a teacher, which is a vocation that, well, it's cool that people do it, doesn't pay very well. Yeah, for the private school tuition. Yeah. So that was, then I did two semesters of that,

or no, three semesters of that, and it was like 40 grand just for those three semesters. And then went back to ASU for business, dropped out because I hated business, started working at the Apple store, the Apple retail store actually, and found my love for like technology and coding. And that's why I went back to school for. But I was starting at zero basically after having accrued all that debt. Okay.doaks. Yeah. Well, $60,000, $60,000, $32,000, minimum payment. Are you on like an income-based thing? Yeah. With that with that one, I'm on. I'm curious to see how they reassess. All these are basically five percent or less. I would minimum monthly payment until these are paid off. The NellNet ones? Yeah. Okay. But not Sally.

Well, I might get on a traditional payment method because you're not going into public service or anything. No. In the income base, essentially what you're just going to be doing there, though there would be a chance of forgiveness, you know, in the future necessarily. A lot of that's going to depend on administration, administration, courts, things like that. Right. Everything student loans are so in flux that you lowering your minimum of payment, which now, okay, it might make sense because your other ones are absolutely insane. What you're doing is allowing an interest to accrue even more more and more and more. I want you to be on a 10-year, once it makes sense.

Once we're out of the other debt, a 10-year payment plan, the traditional payment plan, so you can just get out of it, but not in like a too fast way, but not on a too slow way either. Gotcha. Why would you not want to go as fast? Because you guys, taking out of your 401K, if this is a 5%, S&P 500, average 8%, United States stock market, 8%, S&P 10%. You know, I want to start catching off on our investing. and this would take 10 years to pay off and it would be done.

It's not dramatically hurting you at that point. $60,000 is a lot for your income situation. Now, hopefully if we can land you six figures in the future. And I think you can work up to that. You might have to take a lower level position than you would want, just to start gaining some resume experience. Yeah. And I'm looking at that with my current company because I'm trying to stay with them,

but they do have an internship program, which it would be unorthodox. Might be what you have to do, though. Start getting in there. It's just the unique situation of the economy. current market. Yeah, 60,000. I mean, it is hard to let 60,000 sit. If it was 40,000, I'd be more comfortable.

That's just going to compound. Like, that's going to be really bad. It is, but on the traditional 10-year plan, it's just like, again, I would rather invest. We'll talk about it. I mean, that's the choice you end up making, oh, my, why do you owe $8,000 to your parents? I didn't even see this originally.

To I think they just snuck this in before I came in. To my brother. To your brother, you owe $8,000? Yeah. I'm going to tell you why. This is one, two, three, four, five, six, seven, eight, nine, ten, eleven. Now, two, insanely dumped. What is happening?

So this one here is because we needed to get into a place. Needed the money because... Maybe don't get stupid car projects instead. Sorry, go ahead. That's right. Yeah. Needed the money to get into it because we didn't have enough for the down payment. We got the money borrowed to us about a month into us living there.

You mean like security deposit first month? Yeah, but this was after we had already put down a first and last months and a security deposit on another place. Okay. We moved to said place and started getting harassed. Tires slash. Like it was like a note glued to my windshield with epoxy. I knew who. I knew who.

It was a neighbor. I don't want to get too into it. but I confronted them and it didn't like end super. I wouldn't have confronted them. I would have gone to the police. I did actually. I did. I did.

I filed a report and nothing happened. I sent in all the documentation. How often did you follow up? I would have called the police. Yeah, I called the court. First of all, they don't even let you.

I mean, sorry Phoenix PD, but you guys need to get your shit together. But they send you through a system. You don't get to talk to anybody. And when you call back, you're just getting like an automated message telling you, yep,

nothing new with your case. And so I got tired of getting harassed by these people. about like I so it's not that I would want you to do because I don't want you to abuse it but like it's like you know a live situation if they're alive then it's like 911 someone is at my car with a knife yeah so we did have but that feels wrong lady did come up to my window and was banging on it and threatening me and that's when he went oh I should give context yeah I mean she she was trying to pull into the driveway she had a modified car so I'm not the only one with the car love she had a modified car with a pretty loud exhaust. And as she was trying to back into this very narrow driveway, the lady came up to her window and started banging on it and yelling at her. I overheard this from inside, ran out and saw her walking back to her house. And I immediately confronted them. I was like, this is absurd. You're not going to walk up to her window and do that.

Why was she harassing you guys? Do you want to know the real reason? Oh, yeah. Our vehicles are too loud? No, it was worse. That would annoy me too. It was way worse. We parked in their spot.

Oh, yeah. We were not given any information on where we were allowed. We were told, I told them explicitly, I have three cars. I have one that can fit in that garage. Can I park my vehicles here? The person who rented us the place was like, absolutely. It took us a while to get our... Wait, was this like a house?

It was a townhome type situation. Where they lived, they were not the same landlord? No, it was the same landlord. We're in the same, like, conflicts as each other. Why wasn't the landlord doing anything? So apparently this couple has been causing so many issues in that neighborhood that the landlord caters to them. Quite literally is what we were told. The spot that they were claiming was theirs is not an assigned parking spot.

It is a free for all parking spot. But they made it for them. They made it for them and they told nobody else. Presumably because they do things to people when they park there. Like absolute savages. I was like, are we in real times? Like people do this to each other? Why the landlord not let you get out of your security deposit?

So she did. It just took a while. Then you would have put it back to your brother. Why is the balance to your brother $8,000? Because we then needed it to get into another place. No, I get it. But you said you got your security deposit back in your first months around. Yeah.

There was a point. So it would have gone back to the brother. So why the fuck is the balance to the brother $8,000? There was a point where we were trying to give him, I think, six or something like that. He said he wanted it all. He said, he said, are you completely out of, yeah. He said that and he's like, do you guys still have credit cards and stuff? And he's like, put it.

Okay. He's like, he was, yeah, he was. So no minimum to him? No. No. He said he didn't want us to do the minimum. He said, when you got it, send it to me. It's going to be a long time until you guys got it.

Yeah. Yeah. I mean, ideally, that's one of the ones I want to get rid of. So you guys, knock my checking accounts yet. This one that you're going to look at right now is a combined. So it's our first attempt. Yes. This is our first attempt to Harbor freight, $232.

Yeah Fries food 3,970 That is a money order That was a money orders To put For the wedding venue And we ended up not

Yeah But we got it back We got it back We got it back So you should see a nice Little deposit Oh thank You'll be happy to know

That the reason we're married Right now Is because we decided to a lope Because $14,000 to pay for a wedding Yeah Was not I do Uh Going inside

Getting some bullshit probably and PayPal transfer $1,600. That's how we pay rent. That's rent. Okay. ATM would draw 103.

Who knows what that one? AT&M would draw 363. Who knows who that one? 363. Oh, yeah. Is it the which ones? The ATM, which draw? 363.

Those. We looked at it the other day and we finally figured out what it was. I think it's not, no. It's such a substantial amount of money. I lost $10. I would at least know without that. Yeah.

It was, I can't remember. I think, I want to say it was for a car. Oh, it was. It was for a bike repair and the guy cut me a deal. And wanted cash as a result. Stupid. Yeah. Yeah.

I think you need to make a vehicle mental health disorder for this guy's shirt. Do they make those? She does. Oh, right, right. The shirt. Sorry. I meant the, I meant the disorder. I was like.

She'll just put a big choo-choo train on a shirt for you. But like me with like a binky on the choo-train. No, we do them in the thumbnails. There's actually a famous photo of me when I was younger. I fell asleep on one of those toy trains that I got for Christmas. My parents found me the next morning still rolling around. Oh, that's cute. I was an adorable kid.

Yeah. What's not adorable is ending this checking account statement, which is yours with negative $39. It's not very adorbs. Not too at all. Less than adorbs. Yeah, that one. So the way we had it structured with the bank account is we were going to put all of our bills

into that Navy Federal Bank account and have all of them auto debit out of there. And then the savings would be an actual like together savings. And how's that going? Because we're negative in a checking account. Because I still have my credit cards. I still have my credit cards pull from their minimum minimum. Okay. All of you're saying, does that justify it being negative? No, I need to rework like how we do that.

He needs to stop making crazy purchases. Oh, okay. So we went and got some BS spa. B.S. Yeah, BS bull. Oh. From the bowl. Team Arizona, $179. That's the, um, that's the motorcycle.

That's the motorcycle line. Oh, guy. So that was actually a class for her. and when she had first took her spill on her. Stop. You're supposed to be teaching classes soon, so you'd be able to do that. What are you doing?

To be fair, we went to that. And that's when I got the job opportunity. You got some BS. Some Apple purchase, another Apple purchase in the phone. We didn't got some BS. When didn't get some BS. Cycle gear. Oh my.

Cycle gear. Fuck me. Potential groceries or BS, hard to tell. Apple ATM attracts to $200. Lots of ATM withdraws. Black rock coffee. Those are...

Again, we're doing this while we have negative in our checking account. Great. Yeah. That's wonderful. Thrilling. Amazon went in, got some bullshit. You stop at stores all the time and get $3 purchases. $3 purchases.

$3 purchases. Oh, you don't even know. I don't... You're stopping at fries and you're getting a $3 purchase. You're stopping at Whole Foods getting a $3 purchase. And you don't even know and you do it almost every day. What a joke. Almost every day?

That's stupid. Yes! I can't even remember the last time I was at Whole Foods, to be honest. On the 6. On the sixth, on the sixth month ago. 365 market. Is that your job? Oh, sorry.

That's the little market that we have. I read that is three six. I know, I know exactly because I read it on there and I think the same thing. That's like our little vending machine at work. That's that I do do. Well, stop.

So basically the same thing. And Amazon winning got some bullshit circle K. When you did it again, $4. Okay, you don't even know what you get ever. That's great. And Apple bill in at purchases. Amazon, Amazon smoke land? We do

partake in the marriage Juana. Do you want to partake in paying off debt? Yeah. Apparently not. Yeah. Yeah, apparently not. No, is that you're participating in, you're partaking in a negative checking account. Yeah. Yeah, that's worth it. Great. There's a vending machine,

probably another vending machine. Amazon, ATM would draw $201. Those are, those are, that's my crippling addiction of Facebook marketplace. I see a deal on $200 and I just... Stop, buddy. You made your minimums on your debts. That's it. Yeah. Facebook Marketplace, put the $200 towards it. I should really delete the app. It's a joke. It's a joke. I've tried to get him to stop buying things on Facebook Marketplace. But I'm a good convincing her. I end up convincing her that I need said thing. More often not.

Obviously, you don't. And honestly, I have no effort to convince you at this point, this far into the conversation. This is stupid. It's just objectively stupid. It is. You have so much debt. You have so much debt you have so many goals you're not getting into them you're now in a marriage situation both of your futures are tied together financially speaking as well and you're putting facebook marketplace over each other that's an immature child behavior stuff doing it that's dumb as fissleine out 250 probably another facebook marketplace selling out 220 probably another facebook marketplace also stupid immature behavior apple bill wonderful and zellin out 40 great okay 401k uh 9000 dollars who's this and does it still exist uh these were all these

we're all current and we both have empower accounts. That's good. $9,000 there. Someone needs to work for you haul, $24,000 there. That's good. Happy to see that. Retirement, you guys. My retirement account is very fluffy. So you're

the good one with retirement. Okay, 17,000 in Fideli, who's this? Me. Okay, so you're the one that's been on track of this. You're the one that fakers. This one's also you, 1800, good. One of them should be me. thought I well yeah this is a small balance

and then you withdrew one as well right that's and then $11,000 again this one's you wonderful those are probably mine trade $98 nothing Fidelity

$6000 or $9,000 $401K and this is you okay there you go so Fidelity also you $2,000 individual broker maybe

yeah IRA roll over yeah roll over from a 401K Okay. Well, that's actually the one that was As bad as I feared Did you mention something of a 401K loan though? Yes.

That's what we were talking about. Oh, so you didn't take that? No, we didn't take it. Sorry, we didn't withdraw. And when you were talking about the penalties, I was pretty sure that when I did the research that doing a loan I was essentially just paying myself back with interest, but.

Yeah, we didn't take it out. Sorry, we probably misledged you on that. I wasn't willing to. Yeah. I wasn't willing to check you on that. But it's paying it back to his 401K. Yeah. Honestly, I didn't even realize that you could take money out of your 401K.

That's probably a good thing. I'm scared that I told you now. No, no, no, no. It's never been a thing that I thought was a good idea. But when I was told that you could take a loan out against it. Guys, your minimum fee payments are $2,834 and $35. Yeah. Wait.

Okay, now what do you owe on the 401K? Because now I got to include that. Oh, right. That minimum monthly is... No, what's your... Oh, balance. We... I don't know.

You would have to... I'd have to... I'd have to... I'd have to look it up. That, I don't know... We're an hour and a half into this. No. How do you not know this?

What's your minimum? Payment. The minimum... At the very least. ...is one of the very least. And I assume that gets taken out before your pay hits. Yep. Okay, so we don't have to include that in this minimum.

Right. Right now, if you guys use my Moomoo link in the description below, you can literally get... 8% on your money that's sitting in there for three months. It's absolutely incredible. Plus you'll get 15 free stocks just for signing up with my link. This is literally free money, so make sure you're taking advantage of it out. There is no reason not to. Sign up now, link in the description below. Oh, fuck me. Guys, absolute insanity. Yeah, we have a unhealthy relationship with that. Yeah. And like a

The only thing that's honestly going to fix it is literally simply disciplining communication. Well, okay, those things are not simple themselves. The idea of what you guys have to do is a simple concept. But going into it, that's where it becomes a little more difficult. You guys need to sit down on a monthly basis. Look over your last month spending and how it is associated to the budget you guys created going through the budgeting program. and fix it every month to see what you need to cut back on what you need to adjust in your overall budget

and then what are your goals? What does it take to get there? What do we need to get there? And what sacrifices do we need to take as well? And then just discipline to make sure you're holding each other accountable. No more Facebook marketplace, no more whatever you do, bobbleheads or whatever. There's no more, it's holding each other accountable,

not getting angry at each other, but holding each other accountable and getting into the goal together and wanting to achieve it. Right. together. I really thought we were going to be better in spending. $187,000, $354 a bad debt. Nothing's an asset. Well, the cars kind of, but barely.

They're not as liquid as I thought. No. They're very solid. Income. Is this right? Only $5,443? Yeah. Yeah, yeah.

$5,4.43? Yeah. Okay. Great. So half of that's already going to minimum of the payments. Right. On our bad debt. Nothing that's going up in value.

Oh, fuck. Okay. Yeah, because I feel like we have curbed some of the spending. But at this point, we're just in such a... The spending was honestly, compared to a lot of people, sure, it wasn't ridiculous, but for your situation, where more than half of your minimum, more than half of your income is going to your minimum with your payments, your spending was atrocious. Right, considering that it should be net zero. What's your rent?

$1,600. utilities utilities are internet are you and counting internet because sure okay cool

that's 250 okay gas for both of you together she works from home so you still probably fill up a little though I have a long commute

I have a 60 60 million community is going to be 100 almost on the dot for both of me together because she doesn't I don't drive

at all. Anywhere. Okay, car insurances and everything? 160. That one's 167 with AAA? Yes. Just one. Yeah, that's for both of us on two cars.

And the cycle? Oh, the cycle is through progressive and that one is $45 because we only have liability. So total $212. Yeah. Okay. Guys. T.P.

Find anything else you guys need to survive $550 bucks. You can do $500. $550 meal prepping. Don't go out to eat. We do meal prep and we spend more than that. Yeah, you're doing a wrong stop. We have, so what we have a, in the budgeting program, we have a meal prepping thing that follows, you know. Okay.

$250 budget actually for a single person. Okay. Which we round up to $300 by upgrading some things. We get our, we get our meal planning from our trainer that we pay $200 a month for. That was one of those zelling. Yeah, which you guys do not do anymore. Okay. I want you to do it.

I really do. I put gyms and stuff in. Like, I'm pro that. It's probably the only reason we're here taking care of this right now is that we started to take care of the health. That's good. Let's 65% of your,

we'll see if we can put it in. Okay. I'm going to do 550 now for groceries and we'll see if we can put that in. Let's at least put in $40 for Jim. How much is Jim? Jim is $40 for me, $10 for her? $50 for Jim. Okay.

50 for Jim. Any, pays and like that on a multi-bases medical? We don't pay, not for your medication, it's all free, right? Pets? My medication is free. I do pay for my appointments. Oh, right. Which is how often?

Every two to three weeks. How much? With the therapist. 22 each, so like 44 bucks a month. Okay. For a therapist. Perfect. Phone bills? Phone bill is...

187. Do we owe on our phones? We do. We did, yeah. Did or do? We do now. We had them paid off and then we got phones through Verizon and through Best Buy. I would do something cheaper like fucking helium, $20 a month per line.

Just makes sense when you're out of debt, or when you're trying to get out of debt, but whatever. Okay, anything else I need to put in here that's not included. No pets? No pets. We have a pet, yes. Oh, yeah, sorry. We have a pet. We just don't.

Do you pay for insurance for? No. No, we don't pay for insurance. What's your pet? A lizard. A blue tongue skink. Okay. How much a month to keep it alive?

She eats once a week So for time It's like 10 15 Yeah we buy her food every other month if that She eats what we eat plus 20 for Okay It's a thing They eat

Whatever You know what else is the thing guys I mean you're under by $500 Yeah So 5,997 And 35 cents So no we can't afford a 200 dollar Trader no we can't afford a more expensive diet

And our diet was a healthy Following just standard caloric needs diet without junk food and stuff that we put in the thing we'll give you we'll give you so it's not how I want to start a marriage no starting from the rock bottom making a out here below the rock below the rock like Patrick but no it's I we're just definitely where it's like this is such a climb that minimum monthly payment so high that this is one of those situations where bankruptcy might be easier. Really?

And I hate that because it's going to be really stressful to go through. It's also expensive to go through. You have to come up with some cash, legal fees and lawyers, all the good stuff. And you're going to be fighting for certain things and you can figure out your car situation. You know, you don't have to include that in it. Your student loans won't go anywhere. But it would improve the situation because right now, really the only thing you can do, this is cutting back to zero you're already under $500.

The only thing you can do is literally you have to go bring in an extra $1,500 a month together. Easy. Easy. I mean, too easy. Why aren't you doing it? And you're right, because we did it and it was hard and that's why we're not doing it anymore.

But there was a point where we were both working multiple gigs. Okay, if you do that. I don't know if you know, but we have a roommate that pays $600 a month. Oh. Oh, I did not know that. You did not know that. You did not know that. So you guys are positive 100 hours.

But yeah. Okay. Well, that helps. We'll see. This would be, he's lived with us for a bit and this would be the first time that that's happened. So. So he's never paid rent. He has been paid.

A little bit here and there. I just don't like counting on it. I suppose is the way I've put it. We just did our agreement where he's going to be paying. 600 a month and he said he can do it comfortably so that's i'm not suggesting bankruptcy and i'm not going to um i'll be honest i didn't know that that's how the conversation was going to be ending dude 187, 354 dollars a bad debt if your roommate doesn't pay debt you're under 500 you're you're are you both make i mean you guys make over six figures together yes you can go work

and you can start paying this off but if we bring in an extra $1,500 a month and he doesn't pay rent this takes 187 months to pay off bringing an extra $1,500 after taxes or 15 years. So that's where I'm just like There's a certain point where it makes sense. I'm not saying it makes sense.

I'm not saying it makes sense. How do I pay bankruptcy for credit for like a decade? Right. Decades quicker than 15 years. Now, when you put in, and the thing is, is if we were in that really strong tech market right now and you could just go land $150,000 job right now

and be like, oh yeah, fine this out, you can do it. But I think you're going to be working your way up through lower paid jobs, through internships, getting that experience. I think it's going to be a while until you're going to be making your income for a while and then it's going to be a while before you make like... My hope was that if we could get like a bare minimum zero plan to keep the going until I can land one of those jobs.

You can do that if he pays his rent. If he pays his rent and you guys literally don't spend a single cent on anything outside of the budget I gave you, which is very difficult. Yeah. Very difficult to maintain that. That's an un... Especially because I thought my spending was so much better than it apparently was. People have called my budget. A caveman budget.

No. I forgot the term. But it's hard. Prison budget? Yes. It basically is. It really is. And it's not meant to be sustainable.

It's not. It's get your... get yourself out of this in a temporary situation. But your temporary situation cutting back to zero and bringing an extra $15 a month after taxes, your shortest situation is 15 years. Yeah. It's obviously too long. But I mean, I'm still, I still don't think bankruptcy makes sense because I have the upside.

And again, I don't necessarily, I don't want you to go through bankruptcy. I'm just trying to think. It's just like there's a percentage in my mind if I was right over there where I might do it. A percentage. Right. Not a majority percentage, not even a quarter percentage, but there is a possibility we're talking, talking to someone in the bankruptcy space. Might be ideal. Well, maybe not ideal, but worth the conversation.

Okay. Gosh. I feel like anybody I try to talk to you that works with bankruptcies is just going to try to convince me to. Yeah. So, I mean, the way I would go about it is just gather the information you, can from them take an account that they might be selling you and just weigh that versus the work that you're going to put in you can work to pay this off bankruptcy or this bankruptcy or this you guys aren't getting in a house for 20 years that sucks it does but 50 getting a house no not even 50

it's called you guys could maybe do it by 45 45 getting a house that's not bad that's not bad at all yeah i mean you guys have stuck yourself in your home I'm glad you at least have some retirement that's going to be sitting there. You guys are only contributing to your matches, right? Yes. Yep. We fixed that so that we weren't over contributing to anything that was free money. We did bring our contributions down because we did know that we couldn't be putting 10% into it.

I think we might have brought hers all the way down because I don't think her company even matches. No, mine's at 3%. Or it's at 3%. Okay. But I don't think your company matches because they suck. will not be named but it's more so the education space

that she needs to get out of because it's too limiting on this this is all very live we do that we do that because this is one it is a show right is a show

but two I also want it is for you guys to get finance help so we like to combine those two here I want to get a second opinion are you guys willing to sit down for an hour with our financial coach yeah absolutely

so let me get you guys to get with our financial coach read you guys can sit down with him as well go to caleb hamer.com he's great yeah he's a CPA he's focused more on taxes but he's very well studied on pretty much everything finances he's getting his CP as uh he's going to be uh CFA and all that stuff but yeah because I want a second opinion on this because again I don't want you to go through bankruptcy that's really stressful it's really expensive I know people that have done that and have been in a better place because of it really oh yeah yeah actually I mean is it

this is it worse than this? or about this bad? It really depends. It's going to be very situational. It's going to depend on the strain of the relationship. If you guys are okay with your credit being in the tank for like 10 years, I mean, I'm sure your credit's not good.

So we actually had a former guest on the show. Unfortunately, their episode was never uploaded because their episode was actually lost. There was an episode when we recorded at my house where there were two episodes that day. We lost both episodes. And she's a guest, but, you know, been in contact via email and everything like that. And she chose to go through bankruptcy.

I didn't tell her to. I didn't even suggest to, but she chose to. And it actually ended up working very well for her. And she's in a better place for now. She could have worked to get out of it. She had an easier path to get out of her view. She honestly went the lazier route for it, but it has worked for her. Gotcha.

I mean, I don't know. You guys earned almost $200,000 a really bad debt. And with the way you guys are living life and the fact that you build all your debts up again, I wouldn't trust your guys yourself with access to credit and stuff. Would it be, would it make sense? to consolidating the debt and pay. Not for you. Because you guys built them all the way back up again.

Because we tried that. It wouldn't. Yes. Yes, if you guys were disciplined. You're not. If you can prove your discipline for a while, maybe. Okay. And then maybe close the other account so you can't have access to them.

Right. You need to have access to consolidation. You guys have so much debt now. At some point, the only debt you guys will ever be approved for. It's going to be the worst of the worst. I don't know if you're there yet. I want to be surprised it's getting there.

Yeah, it's pretty bad. All right, household Hammer Financial Score, spending it a budget, I mean, you're over. So, well, actually, let me see. Terms of Income went in versus spending.

I'll tell you guys. How much do you guys think you spent? We already knew that income was 5,443. Yeah. How much was spent? I think we're at 5,400. Taking an account,

the money order that was returned it was about $7,000. So you were overspending your budget to $0.10. I mean, you're lucky. You don't... It's a 1 out of 10. It's basically as low as you can get without having IRS debt or collections.

Emergency fund, nothing in savings. Zero out of 10. Retirement, though. This will be the one thing that is going for you guys. And for your ages, I'm actually quite happy. Combined between a 6 or a 7, I'll be nice and give a 7. Thank you. Because you guys are at least pleasant people.

Real estate 0 out of 10. Hammer financial score rounded up two out of ten Make sure to check out all the links in the description below As they are the resources that I use or would use in specific situations Including the best budgeting and investing programs in the history of the internet Which are now bundled together at a lower price Now make sure to join the membership here And join us for the post show

Today on the financial audit post show I'll give you guys a gift in the post show For people that purchase our new dirty money over $100, they get this included. It's a frame picture in my hand. My God, I love it. Oh, wow, wow. Yeah.

The dump truck, the hammer truck. Oh, I was going to say hammer bottom. Have you ever watched a lady pull razors out of her with a string? What about have a clear liquid go in and a not clear liquid come out? To watch the financial audit post show, click the join button below.