23-Year-Old Is Going To Drown In Debt FOREVER | Financial Audit

This is Lyle. I'm 23 from Berlin, New. Jersey, and this is financial audit. Okay, thanks for coming down from New. Jersey. Now, yes, I just wanted to say. something right out of the gate. Let. them know. My voice sounds like death. I don't know. why. I don't feel sick. I feel nothing, but I sound like an interview with Miley. Cyrus for some reason. I don't know why. Yeah. I'm just full vocal Friday today. Thanks for coming down. What do you do. for a living in New Jersey? Got a couple things. Um so, my main.

thing that I do is real estate. So, okay. More recently, over the past year or so, I've gotten into real estate and have. been actually doing real estate more so. Yeah, what's the job in real estate? Uh a salesperson. So, anybody wants to. buy a house, anybody wants to sell a. house. I'm a realtor. Exactly. I forget that that sometimes needs to be. clarified, yeah. When did you get your license? Oof, like 2 years ago. Okay. For the first year, just sat on it. Got. my license, paid a bunch of dues, and. was like, I have it, great. Then I was like, hey, there's like a $400 $500 annual due.

When that came back around, I was like, oh, I use this thing or I give it up. There's no like just spending $500 a. month because I have it. Um that's when. I started coming to the office and. feeling around, seeing how to actually. do real estate. Uh first year, a couple transactions, nothing crazy. Kind of got my bearings and all that, and this this year doing better off. What have you made this year so far? We're 5 months in. Almost Well, yeah. So, in these 5 months, I made around Not. nothing crazy cuz I'm still newer, okay? 4 months. But, uh I made around 15,000 this first.

year, and I'm in contract to make. another 15,000 within the next 2 months. So, and then hopefully, I mean, we'll see. what the second year or the second half. of the year has for me. So, yeah, we're in the beginning of the. fifth month, so. Yeah. in like 2 months, so that's 30,000 in 6. months. Yeah. In contract, those contracts could fall. though. Contracts could fall through. Yeah. I've. personally never had one fall through, but I'm newer, so it could happen. So, for 15,000 hours over 4 months.

Yeah. And then, what else you do? You said you. do a lot of things. I do a lot of things. I do DoorDash, too. Okay. Yeah. DoorDash, I'm typically bringing. in I mean, it fluctuates a lot. So, that's what sucks with that cuz it's all. discipline. It's all do I want to. DoorDash? And then, yes or no kind of instead of. having like a routine that I should. follow. What do you bring in normally? Typically, between 600 to 1,000 a month. Yeah. Well, I see here cuz I'm in the our. expensive. Here's your DoorDash.

like statement. This was in last month, all of last month. You brought in $918, but. Yeah. there were I mean, there's lots of gas. Lots of gas. I pay around 250 to 300. a month on gas. It's painful. So, you walked away with like 700. Yeah. Okay. And then, maintenance on cars and. Maintenance on cars I'm not calculating. Nope. Or taxes. Well, yeah. And I mean, you're setting. money aside for taxes, right? For real. estate and this? I'm looking directly at the camera. No, not yet. Why? Because.

uh I have debts. And I'm like. That doesn't matter. You got to pay the. IRS or they're going to come after you. They're like. I'll say this, too. For the past 2. years, I was able to write off 90% of my. income because I drive so much. other 10%? Other 10% it's probably like a couple. hundred bucks where I'm like, okay, cool. I made that last month. Here you. go. So, you paid it. So, I pay my taxes off every year, but. it's never come out to anything crazy. I. know this year because I'm not making. anything. Yeah. Exactly. So, I know this year I'm going. to I'm going to make a lot. So, that's. where I need to put money aside. Make a lot. I mean, we're 15,000 in the.

first 4 months. If everything goes. through, we're 30,000 within the first 6. months. Meaning 6,000 plus an additional. thousand hours a month that gets you to. 72,000. Yeah. I mean, that's great. I'm happy. We're not making like. No, what's your definition of like. Making enough to be taxed is what I is. what I'll say. Yes, that is true. That is true. So, you're set So, but you're not setting. money aside. I'm not setting money. have enough to be taxed, we've. established if everything goes well, the. market fluctuates, you know, who even. knows. So and you can have hot parts of the.

year in terms of buying and selling as. well. Of course. So we can't guarantee that income. No, we could probably guarantee the DoorDash. money. is the only one I can almost guarantee. Well, and that was $1,000 before. expenses, so really it's $700. So I. mean, who even knows? Either way, all we can do is go off. history and then we can base it on that. Yeah, we're not going to go off of like, "Oh, I hope I make this by the end of. the year.". I know, unless they're business. projections, but. but we're not a business. Yeah. Um I do a third thing.

Oh, okay. Go on. Uh I'm a sperm donor. Oh, okay. Cool. How much do you make doing that? Um a good month, I'd say 900. Uh if I go. less, I'd say I would say typically 600. So if you want to kind of break it in. half, let's go 7, 750. All right. So you're jizz boy for $750? $750, that's what I sell it for, yeah. So you have a bunch of kids running.

around? So I only signed up to say like, "Hey, when they turn 18, they can reach out to. me if they want." And I had to sign. something saying that. Until we Until. then, I have no idea. Cuz it hasn't been 18 years since you've. been doing this, I assume. You're 23. years old. How long have you been doing been doing. it? All right, this is This is the crazy. part. They can only take They can only have 25. kids from me, right? I've been doing it. for 3 years. And I've been going. a couple times a month. You can only have 25 kids from you? Yeah, because they don't want to mess up. the gene pool, I assume. But they'll. take more than 25. But they'll take 3.

years I've probably donated at least 200. to 250 times. But they only And each. donation can have about five kids. So that's probably a thousand. uh samples worth of kids. Interesting. What Why are Why are that? We're just to. make money? Money. I mean, it's an extra, like I. said, extra 800. Sometimes they have. bonuses where I made thousands a month. before, like I made 3,000 one month. And. all I go in there is I mean, I just. drive over. the deed and then leave. So, it's easy. money. It's It's 120 per donation. And I.

go twice a week. You just like go to a. room? Yeah. They give you a room? Pull up the app, the magazine that with. the photos, whatever Yeah, whatever. [laughter]. Interesting. Very interesting. All right. Yeah. So, I mean, you're bringing home after. expenses is more for being a jizz boy. than DoorDash. Yeah. Okay. But, I can't go more than twice to three. times a week. That's the crap part about. that. So, I need something more. to kind of back end it. Like something. that comes in. every day, every other day or so, you. know.

You're not back ending it. You're. soloing it when you're there. Yeah. I I actually can't stand you. I just. [laughter]. So, real estate is the hope? Real estate's the hope. dream. Yeah. I transitioned recently, like I. said, my first year I did like two. transactions. This This year alone I did. six and I have another like three to. four. Now, why are you in so much debt? Okay. Um I went to school before this. For what? A couple things, but mainly nursing. Okay. towards the end. Uh once COVID happened,

everything transitioned online. I'm. like, "Oh wow, this sucks. I can't focus. at all. I'm I'm getting distracted by. whatever." Uh and I also moved to Jersey. during this time from Philadelphia. It. basically put a monkey wrench to things. Uh during that period though, I wasn't. working. I'm just a student. So, uh. I'm I'm probably getting money here and. there from side things like that uh or. DoorDash typically, but I basically. realized that my income versus my. expenditure was not like equal as. Okay. slowly going into debt. So, it's like.

Probably for like a year. Maybe two. I. Maybe six Maybe. 18 months. Quite the debt to build up in just a. couple You just even a year, maybe two. So, what happened between that, um. I also. my mom ends up I was living with her. rent-free. Things go south on her end as far as. she's like, "Look, you got to find a. place. This is that." Not nothing. between us, but between basically she. ends up getting divorced. So, she's. like, "Hey, I have to downsize. Uh you got to find your own place. We. only have two rooms." And I have two. other siblings. My good grief. Moving. with I'm moving with my aunt. I pay her.

500 a month during that time. Yeah. Okay. Which is basically nothing. Nothing. As far as rent goes, yeah. Exactly. So, I'm a student paying her 500 a month. Great. I can kind of deal with that. I. then take on a car note. Uh. this one was stupid. This this one was a. bad idea. During this time, um. I get the bright idea that I'm driving. so much that I could get an old Tesla. Okay. Uh so, I get a Tesla. Uh. the car note for the Tesla and mind you,

I don't pay gas, so I'm saving about 275. 300 a month. And I'm like, "Okay, I like. that." But I know your face is. otherwise. The car note was 550 a month. And I'm making. less than what you saw there. So, I'm paying 500 a month in rent, 550. a month on Tesla, and then my insurance. was another 330 a month. So, almost a. thousand dollars between car note and. insurance. I'm getting like I'm drowning. at this point. So, anytime I go out for. food, be that groceries or not or like. anything, I'm paying on a credit card. most of the time at that point. Um.

More recently, as you saw, uh Teslas dropped in value. I I don't know if you've seen. Sorry. I have. Yeah. So, they dropped in value. Um. what's kind of giving me the hope that. this can kind of turn around. During that time, January 16th to be. exact, I got into an accident. Um. wasn't my fault. Was this year? This year. Okay. months ago, yeah. I get into an. accident, wasn't my fault. Insurance. company basically says, "Look, we're. going to pay you out. The car is done.". I'm like, "Thank you.". I get a much cheaper car, which I now.

have in a car note of $8,000. Yeah. But. uh Uh, I get a much cheaper car with a. much cheaper car note. My car insurance. is now like 130 a month. I cut it to a. third of it. And I'm still paying Now I'm paying 600. a month in rent cuz I moved out, but. I'm paying much cheaper on car note. things. I'm making a little bit more. money. Um, and like I said with real estate, [snorts]. there's a lot of things in the works. Obviously, nothing's guaranteed. Mike, I guess that answered the question. a little, but we'll just have to dig. into this a little more. I want to know. what you give yourself a score zero out.

of 10 right now. Uh, it's right this today? Probably like. a two. Okay. Yeah. All right. Well, from what I've seen, that's optimistic, but we will see. So, okay, yeah, we went through the. Dasher Direct. That's your DoorDash. thing. Let's start with your checking. and savings. $53 ending in your checking. Do you have. automatic withdrawals on different. things? I do not, thankfully. Everything's. manual. Yeah. Started with 1640, so barely anything. And then there's. another checking account that you have. $129 in there. Started with 13 cents.

And the savings, 51 cents. Yeah. Okay. So, no savings. No savings. Is there. savings anywhere? Do you have anything? Do you have an emergency fund? Do you. have anything? No, I don't. Okay, why? Um, I mean, you'll see that the debts. were just so big that I'm like, "Look, if I have to. And I get the point of saving the $1,000. to the side just in case something. happens, but I'm like, "Look, As Dave, yeah. So, I'm like, "Look, I. could just pull that out of credit card. any B. What's the difference between me. paying that down $1,000 or pulling that. thousand out when an emergency happens. from the credit card?".

Interest. Interest. So, I'd rather pay the credit. card off first with that thousand. And. then if I really need it, go back and. pull it back out. That was my idea of of. use that thousand dollar emergency fund. to just pay down a debt a little bit. more. Well, we'll see. I mean, what we've. often found with a few people on this. show who only save up $1,000 and a big. emergency happens, they get in they end. up getting into a worse situation that's. harder for them to pull out of than if. they had a few thousand dollars set. aside. Either way, I mean, this is. Okay. In here,

Okay. So, in here you're spending 319 at. Target and parking and Wawa. And guess. what? You had a withdrawal of 3731. rejected cuz you didn't have the money. in there. Yeah. So, we're clearly overspending. Yeah. Like why are why are we at a point where. you're going and spending 3731 on. something when you don't have the money? Why are we there? That was actually the. That's my only reoccurring charge and. it's a gym membership. So, I mean like. yay to that. reoccurring. So, why why are we leaving.

no balances in the checking account. essentially like that? Um. This makes no sense the way you're. managing money. Do you Do you budget? Now, yes. What's now? I Within the past like two, three. months, yeah. Okay. What changed? Um. I don't eat out at all anymore typical I. probably you know. No, what changed? Why did you start. doing a budget? Oh, what I start? Um. Honestly, that. So, like as you see. there the the the debit card was. bouncing back. The credit card started. bouncing back first. And that's where I.

was like, okay. Okay. I was like this needs to and once the. Tesla bill was off of me, I felt like. just a tiny bit of weight relieved off. my shoulders and it was like a message. saying like, dude, you pay this off now. or like it's it's done. Like, what do. you want to do? I'm glad you changed it cuz that's. that'd be ridiculous. Okay. So, we also going These cannot be gas. cuz you're getting gas in your dash or. thing, but the Wawa for $7, that has to. be stopping and getting like a snack. Are you only getting $7 of gas?

It could be $7 of gas because you had. nothing. Was that last month or no? Yeah. That was probably $7 of gas, yeah. Yeah, cuz you had no money in your. account. Nothing left over and I was like, okay, I get seven bucks. That's it, yeah. Okay. Auto use, $212. That's my car note. Oh. $212, yeah. H&R Block retail. That was taxes, yeah. Oh, $492 in taxes, so that's a tax. payment you paid. Paying for parking, Dollar General 265.

Barber's Inc. That's my haircut. Oh, okay. Yeah, barber shops will $52. I. mean. Right, it's not a $52 haircut, I know. I was going to say, why don't you just. go to You could go to Great Clips with. that. [laughter]. It's nothing special. Nothing exciting. Neither is mine. So, [laughter] it's not I mean, but. still and then parking, Dave Inc. Isn't. that a borrowing thing? So, I thankfully didn't do it. I signed. up for it and then was like, "I'm not. going to do this.". Good. Well, don't do it cuz that'd be.

stupid and that was just so recent. So, don't even get tempted. $58 IRS, LensCrafters $493, those glasses right. there, I'm assuming. ABC. Fitness, so there's your recurring $532. Apple bill and Chick-fil-A. Don't go out. to eat anymore, all right. And parking, you spend a lot on parking. Cash App'ing out $15, parking a dollar, parking and Bright. MLS. What's a Bright MLS? That's real estate dues. And the. Chick-fil-A I That was for a friend. He.

was I owed him money and he's like, "Yo, you could buy me a Chick-fil-A or you. can give me the money.". owing your friends money. Parking again, Cash App'ing out Cash App'ing out 20. bucks, so clearly you you're owing. someone something for that and parking. again. Yeah. Now, Zelle'ing to I think your. girlfriend $164 and Zelle'ing $625. Those That's for rent and utilities. Yeah. As I figured. Okay. Yeah. And your rent for watching this video is.

clicking the subscribe button. We're. trying to get to 500,000 subscribers. Thank you to everyone who has subscribed. so far. You're all amazing. I love you. Thank you. Do it. Subscribe, please. For my life. For my sake. He won't let me out of here. until you subscribe. And you have like nothing in savings. Yeah, nothing. scares me, but whatever. Uh, FICO score, this has been dropping down. You're. Why are you laughing so much? Is this a. joke? Are we here for jokes and giggles? It's not a joke. It's definitely just. like it's the anxiety of it, definitely. Okay. Just want to make sure. Started.

close to near 700, which okay, great. I. mean. you know, early 20s at that point last. year, a year ago, or very close to 700, that's fantastic. BUT WE'VE DROPPED DOWN. BELOW 600 and into the 591. Yeah. So the situation's only been getting. worse. Yeah. You talked about a couple years of. things going bad, but it's only been. getting worse since here. I want to make sure I'm covering up. anything sensitive, but look, the. chart's only going down. I know, we probably put it on screen. anyway.

But I mean, this is what makes no sense. to me. This card is better than the. others, but we'll start racking up the. debt. We're getting into the debt now. Yeah. But a Macy's card, a stupid stupid card. a stupid store card of all things, and. it's a Macy's card. Yeah. Had a previous balance $3,616. Okay, that's not good. What's good? $2,633. of payments. That's fantastic. But we're. putting $33 on it. Why are we putting. any money on a card that we're trying to. pay off? That's barely any money. compared to your payment. So compared to.

usual, okay, good. But $65 of interest. and we're losing losing $65 in interest. and 16 cents. Why are we still spending. money on there, leaving it with a $1,000. balance at the time of this statement? Yeah. So that one I think had a. recurring bill and they wouldn't let me. lock it. And I the recurring bills were. here and there. I ended up just. reporting the. cancel. I reported it as stolen. I was like, look, the card got lost or something. Why don't you just cancel the recurrence. and move them? Cuz I didn't I didn't know how to do. that. I'm like, look, these are websites. that are from years ago. I'm just going. to report the card and I'll if I really.

need those recurring charges, I'll put. them on my debit. With a $76.16. minimum monthly payment with $65 of. stupid interest. Yeah. No, I looked at once I saw your videos. and I I like, how much interest am I. accruing? It was in like the It was. high. Yeah, this is ridiculous. It was a monthly bill. And it's on a stupid Macy's card. And it. was HBO Max, super easy to cancel and. change. And Supra, I don't know what. that is. That was some real estate thing, yeah. That was like, all right, I don't know. Okay.

Total interest charged in 2023 so far, $316. $316. And again, your income is very. fluctuating. Yeah. I mean, that's almost a half a month of. jizz boy activities. So, I mean, already. there. And this is one card. Yeah. Now, we go to the Discover. Again, this. makes no sense and we're being. objectively stupid here, in my opinion. Discover, previous balance $6,814, $300. payments. That's double the minimum. monthly payment. But $72 of stupid. purchases. Again, I need to get into the.

logic, or we're not going to overcome. anything. Why are we purchasing on a. card we're trying to pay off? Yeah. If you've recognized in the past, okay, my situation is bad, I need to start. doing good. You started doing good a. couple months ago. You cut back on some. things. Why are we still purchasing on. cards where you're losing $119.62. on a monthly basis in interest? Why are. we spending? That one I couldn't tell you. Is that Is. that this past month? It's the most recent statement. Then I have [snorts] no idea what it was. spent on. And the card is locked now. a freaking budget, dude. Cuz if you.

don't even know where your money's. stupid going, then that's just dumb. Yeah. You have to budget. $149 minimum monthly payment. Now, typically, I'm not angry at the. person, I'm angry at the debt. But the. one thing that does make me angry is. when they've said, "Okay, I've started. watching your stuff. Okay, I'm starting. to get out of crap." But they're still. spending money on a credit card. That. makes me angry. Yeah. That's the one thing that'll make me. angry at you. That is dumb. That or just being in denial, but it. doesn't sound like you're in denial, which is good. But still,

$119.62. in interest. Yeah. That upsets me, cuz the debt's bad. Doesn't upset. uh it doesn't make me angry at you. specifically. Yeah. But Audible purchases and the Edge. Fitness. That was the That's probably. what happened. The other gym was like, "Hey, let me get that." And that's where. I locked the card. If you signed up for. it? Yes. That's where I locked it cuz it was. an old gym I used to go to and. they basically kept charging me and it. was like, "You come in here and you. negotiate with us on what you want to do. or" So, I was like, "I'm just going to.

lock the card.". And 20% interest. Yeah. Killing yourself, dude, with this You're. killing yourself with this. Low web. platinum rewards? I don't even know what. that is. Police That's my last name right there. [laughter]. Oh. Yeah, but platinum rewards is the card, yes. Platinum Yeah, with a crazy thing Oh, okay. That makes sense. Yeah. Current balance. 5,000 stupid $192.42. of stupid debt. Yeah.

Disgusting. Now, where we've gotten over. $10,000 in bad credit card debt at this. point. We're like at what? 12,000. almost? Yeah. And what's even more stupid and this. will make me angry cuz this is just. comes down to just basic responsibility. Late fees all throughout the statement. We're not making our freaking payments. on this. Yeah. As recent as March. Yeah. That just March was just a thing. That one I used last. I'm upset because even with this voice. my voice got that high. So, that's.

That's when you know that's stupid and. pisses me off. Yeah. Why are we missing stupid payments? So, this one is going to This is. terribly on me, obviously. Um. the When I signed up for it, it was a. balance transfer card. Cuz I had 0% interest for 18 months, something like that. Yeah. Um when I did that, I didn't really. think more past that. I was like, "Cool. Like, I have zero interest. Great." I. didn't really ask, "Hey, when's my due. date?" or "Hey, when do I have to pay. this?" or "What's the monthly?" I really. just. opened the app here and there and would. just be like, "Okay, cool. I owe a. minimum balance. Great." I never.

actually checked the due date on it. So, what have we discovered? You are. irresponsible. You are. not stupid. You are stupid. Is that what. you said you watch my content? What are. you? [sighs and gasps]. I'm in debt. I'm. I have a lot of credit cards. Not not a. credit card person. You are not a credit. card person. I like objectively. Yeah. what you just described going into that. situation, you're not even close to a. credit card person. Yeah. So, will you cut these up? Will you cut. them up and end them?

I brought them here today. You brought them here to cut them up? funeral for them, yeah. Oh good. Let's do We'll do that once we. get through the credit cards. But. we have some realty thing you're doing. on here. Wawa, Chipotle, and Chipotle. Mexican Fried Chicken, and Wawa. That's over the past like six. this is not This isn't the past six. months that I'm looking at. Past couple months. Yeah, past couple months at FedEx and. more realty stuff in the Spirit Shop and. Wawa. Yeah. And again, going back, miss payments, miss payments, late fees, miss payments, miss payments, and late fees. You're. stupid and terrible. This is so bad.

Now, you said you have a car loan. I. don't have the car statement, so what is. your car? My car is a 2015 Honda Sonata. Okay, what's the balance on it now. still? 8,500. What's the interest rate? I just table nail down cuz I feel like. you're going to flip it, dude. Mind you, I had to get this car. recently. I was in a car accident. You. saw my credit score of the 591. Yeah, cuz you've just been getting. further and further into. Yeah. That's maxed out debt almost. What? What? What is it? 16%. Uh okay.

Okay. What's the interest rate and. minimum monthly payment? What's that? Minimum monthly payment on that platinum. card? Uh. 1. I think it's 140 if I'm not mistaken. And [snorts] you're losing interest in. something I couldn't see because it. wasn't an actual statement. It was just. either way. What's your minimum monthly payment on. that car? It was like two something. 212. What's the term? 60. Oh, I know. Let's cross fingers here, right? Let's Can I get a round of. applause? That was good.

That. What other What. Oh, I have student loans. For a degree you did not get, correct? You dropped out? Yeah. Okay. What's the balance? Uh. 7,000 in student loans. Are they all federal? Any private? 5,000 is federal, 2,000 is private. It. got paused, obviously, it's like August. or so because of the. Private wouldn't have been paused. Are you sure it's subsidized and. unsubsidized, maybe? what it is. Okay, but they're they're still federal.

Okay. all federal, yes. That is going to start relatively soon. Yeah. I think your minimum monthly payment. $7,000 is probably going to be like a. hundred bucks. Something like that. Yeah. Interest rates, you probably don't know. what they're at, do you? Nope. Cuz they make it very hard to see while. it's on pause. So, I don't necessarily. blame you for that. Okay. But, it's likely going to range anywhere. from two to with the unsubsidized two to. six percent. Okay. Maybe even seven. We want to pay off. that $2,000 probably pretty quickly.

Either way, whatever. I'm scared, man. Take them out. Are they all Or do you. want to lose all of them that are in. here? All of them are in there, yeah. All of them? All of them that need to be that. Nothing else in is in here of. importance? No, I mean there's that that weird ID. number, but uh. I'm sure I have that in an app. somewhere. Well, I'm not going to cut that. I just. want to make sure we don't get the. information on screen. Of course. So, we have Macy's. Yeah. Discover. Yep. Re uh the the stupid Is this another. Macy's? So, that was the one where I reported it.

as like lost, and then they gave me that. one. Place in Fire Federal Credit Union. Credit Union, yeah. [sighs]. I feel like you should do this. Hold it. like this. Make sure the numbers cannot. be seen. We'll blur them if they are. Yeah. I I. I appreciate it. Well, cut it into the camera still, like. up here. I'm like up here, I guess. [snorts]. So, people can see it. Jeez, they're kind of they're resistant. to cutting. There you go. They don't want to die like this. Can I do one at a time? Yeah. All right.

One of the Macy's ones can probably. stay, but uh. he can go. Why? Good. Good. Let it leave your system. No more. stupidity. We're done with dumb. [snorts]. We're done with dumb. Good lad. Good lad. Just for the pleasure of it, the one. that's already been canceled. and reported. Have a good life.

Good. No more stupidity. This is dumb. No more dumb. Dumb, no more dumb. It's. gone. Get that out of here. We don't need. that. Okay. [snorts]. So, now it comes down to you actually. cleaning sh. up. Yeah. I can't cuz okay, you said it's for. anxiety and I can appreciate that, but. still all the giggly, the joking, and I. know you're happy to be here. It's. exciting. I'm happy to have you here, too. But.

I need to make sure you're actually. willing to take seriously and clean it. up. Yeah. Yeah? Yeah. Will you buckle down? No, I really I really like when asked to. eat out, I'm like, "Dude, if I'm. starving, I'm headed home. I'm sorry. I'm I'm going to make a sandwich at the. house.". Like, I'm not eating out anymore. I'm. not going out anymore. And. Since when? Since the past It's like 2 months, tops. Okay. Yeah. So, I mean, obviously there's not. a crazy dent in there, but I'm like, "Dude,

it has to go.". If I want to even think about savings or. anything like that or having an. emergency fund, this stuff cannot be. here. $28,478. in mostly very terrible debt. 5,000 of. that is questionable with the student. loans. That's a amount of debt to have at. 23 with zero retirement, let me guess. Yeah. Zero retirement? Uh so, it's the best decade of compound. growth. Yeah. you for retirement, but we have to. put that on pause because we have 28,000. hours of really not great debt. Also.

known as really bad debt. But anyway, uh, minus the 5,000. So, Oh jeez, let's see what these minimum. monthly payments are. And we are going. to include the student loans cuz they're. going to start up and they're going to. be thrown in this process. Yeah. So, of the money that is basically. unpredictable, one of your jobs, whether. it be DoorDash or Jizz Boy, is taking. care of the minimum monthly payments to. your debts. It's fully sucked up from. that debt. Yeah. And we don't even know what's coming in. from the real estate cuz that's just.

going to ebb and flow as time goes on. You're going to have really good months. You're going to have really good. quarters. You're going to have. months. You're going to have shitty. quarters. Yeah. So, out of the job that is consistently. coming in, and half of it immediately. goes to $668 of minimum monthly payments. Yeah. on your car debt. What's your portion of. the rent? 600. Okay. So, immediately the rest of the. income's gone. Now we're just hoping, hoping, hoping that we are closing real. estate deals and getting that. commission. Of course. Yeah. Utilities, what's your portion? Utilities including gas, electric, water,

internet as well. Typically like a hundred a month. Your portion, that's all? Yeah. It's pretty cheap. Okay. Car insurance? 130 a month. And your parents' health insurance? Yeah, I have state covered until 25, I. think. Okay. Okay, and your minimum debt. is 668. Yeah. Okay. Groceries. Do you live with your. girlfriend? What's your living. situation?

So, I live with my girlfriend and her. best friend. So, three of us in one. house, yeah. Okay. Do you split groceries? Yeah. Okay. For the household? Household. I'm go. You all split groceries? Yeah, we all split the price of. groceries for the household, yeah. Okay, I'm going to limit you. If it's three people, I'm going to limit. your grocery spending. All that you're allowed to contribute to. it, they can do as much as they want. 200 is your max. Yeah, that's perfect. stuff for the house, you know, keep. things going, toilet paper and stuff.

like that. $50 a month, that's your max. Nah, it's 75. $75 a. Thank you. month. Okay, and then health insurance, okay, good, good, good, good, good. Any other. minimum monthly expenses that are. required in your life in order to. survive that you think? Gas, how much. are you doing with gas? Um I'm saying. we took that away from the DoorDash, so. never mind. Okay. That's fine. That's fine, we won't include that. Include that in your budget, you should, but you write you write it off and it's. come it comes out of your Dasher.

Yeah, I typically use my Dasher account. cuz it gives me like 2% back, so I'm. like, "Hey.". Yeah. But. Any other minimum monthly expenses you. can think of? Um if you absolutely want to, so there's. I pay quarterly for real estate, like 85. bucks. If you want to divide that by I. don't know, four. Or divide that by three, and that's how. much I'd be paying a month. Oh, and then. gym, obviously, yeah. How much is your gym? Uh 37 a month. So, that's yeah, 37 a. month there, and then the other one. probably around 20s a month. I think it's fair to include.

Yeah. Uh so, right now 1,830. You bring in 750, Jizz Boy. DoorDash 700. after gas, not after maintenance or. anything like that. Yep. So, right now the total guaranteed. income if you work those, if you do. those. Yeah. and those are even if you go do those. Yeah. is not enough to take care of it. It's. like 1,500. Yeah. So, your expenses, because of the debt. you've ballooned, because you've.

probably gotten into Well, no, the rent. situation, I mean, it's like as. [clears throat] low as rent gets. It's. mostly the debt situation you've gotten. yourself in, and then your income it. just fluctuates too much. I'm good with. real estate, I'm all about real estate. I own rental properties. And I'm obsessed with real estate, honestly. Yeah. And so I'm good at this. I'm good at. pursuing this. And my we might need to. be driving Uber Eats a little more, though. Of course. Till we get on it. No, I I So, I probably do it like 2 to 3. hours a day. I know I could push it to 4. to 5, definitely. 4 to 5 hours a day. And then obviously weekends more.

So, is there a percentage of my like. upcoming closings that I can count. towards. income? Cuz as you saw that 2,600. Once it closes, That's it. then we can do it. Got you. But if something's just under contract. but hasn't closed, we're not going to. count that yet. You can be excited about. it. Yeah. But once you You don't get the money. till you get the money. Exactly. The money's not guaranteed until it's. guaranteed. So, I don't make my financial decisions. based on potential YouTube revenue next.

month, of course, a few months from now. I'm only going off of what I'm actually. making. So, you already over budgeted. You. You're I mean, you're 150% over budget. I'm glad the money that you've made so. far. The money's probably been. allocated, right? Yeah. In the last few months. Yeah, exactly. So, it I mean, it's already it's a The. situation's honestly pretty. You have to bring in more money. Yeah. And sell as many houses as you can. Grind, grind, grind, but every second. you're not doing that in between. showings, drive that DoorDash. Yeah. Drive that DoorDash. Go, you know, wank.

into a. a thing as much as you can. Yeah. Whatever you got to do that brings in. money, do it, dude. You have to. Because right. now the situation's bad. I don't even. know how to budget out your repayment. cuz right now you can't repay. Yeah. It's as simple as that. You just you. can't repay. You can't put extra towards. it. When you do, I would do Macy's, then. the platinum card, then the Discover. card, then the car, and then the $2,000 of likely higher.

interest student loans. Got you. And then minimum monthly payment on the. lower interest $5,000. What's It's. likely you have to look and see what. those interest rates are. Yeah. Um minimum monthly payments on them. until they're fully paid off. That's what I would do. What's the. condition of your car? How many miles? 70,000. Okay. So, I'm I'm going to run her into the. ground. Okay. But, you have a while. You should have a while. I should. I should have at least a year. you're taking care of it, getting oil. changes, brake fluid, everything, transmission fluid, all that stuff. Yeah. Beautiful. It's my It's my money. maker on all three ends. I need it for.

all my Yeah, ventures. Let's just. uh just for the sake of argument, say. you're bringing in that $60,000 a year. from that and then the other things. Can you put that on camera? Like that. cross-eyed face. [laughter]. $76,800 with all the incomes combined. Point two for taxes cuz I can write off. most of it. Yeah. Okay. So, that's going to be. $60,000 a year after taxes.

Ish. As if everything goes 100% perfectly. 100%. 100% perfectly. I always give it 50% Like I I'd be like, all right, say half my deals fall. through. I can kind of get that. I'm not even talking about deals falling. through. And now I'm just talking about. keeping up consistent deals for the rest. of the year as well. So, we're just. basing what the rest of the year is. going to look like based on what's. already happened. Yeah. We can't necessarily do that. Yeah. That's true. to real estate. Either Either way, we're just saying we. do, this whole situation still takes.

And that's if you put every single penny. towards it, every single stupid every. single penny that you have, Yeah. it's probably going to take an extra. 14 months to fully pay off, then an. extra 6 months on top of that for an. emergency fund. No, an extra 9 months maybe for an emergency. fund. So, now we're talking 2 years of. absolutely nothing, nothing but working. and working and grinding and grinding if. everything's absolutely perfect and you. make that much money. That's a big if. So, this is why we're working DoorDash. constantly. You are grinding and. learning and everything as you can. Go.

under the wing of a mentor for real. estate. I don't care what it is. You just need to be working. Maybe you. get certified in something through, again, Course Hero, as I always mention. them. Um and then get a job on the side. Something that's, you know, in the tech. world. I don't even know. It doesn't matter. You can look and see. what you're interested in. But as much. as you can work 80 hours a week, that's. what you need to do to get out of this. because right now, with just what you're. doing, we're not getting out of it. Yeah. We're We're just not. We're paying We're.

We're barely even paying the minimum. monthly payments. You're going to start. making missing payments like you did. last month on one of those car, late. fee. Yeah. That was a month ago. So, we're clearly in a position where. you just got to work your off. Yeah. What are you actually going to do? What. are you going to do with this income. situation? Tell me. I need to know. Um. So, I I try my best to I mean, as you. see, it's literally impossible, but just. to survive on the sperm donations and.

DoorDash, which I have obviously have to. pick up more DoorDash, like you said. Yeah. Um. and then any closing that I get, typically around the $3,000 to $4,000. range, I'm trying to just And that's. what I did with my last one. You just. saw the $2,600 towards Macy's. I'm. trying to put at least 50 to 60% of that. money straight towards. just the debt. So, any money that I make. off of real estate, 100% of it goes. towards debt and I just want to live off. of. But you can't live off of just boy and. DoorDash. Exactly. Because you're, again, $1,830 versus the.

$1,500 you bring in. Well, that's where I hope when I pay the. debts down, obviously those interest. rate and the minimum monthly payments. will go down. that will start. And if I do more DoorDash, I can kind of. make up that difference of $300, $400. Like if I DoorDash for like another four. like two to three hours a week, I know I. can push that difference of a couple. bucks. So, You're kind of forced to. I'm forced to, yeah. And what I really would do, just because. your jobs are all hustle, they're. all hustle, so the next couple months, while you. make more money, put at least $2,000.

aside. Got you. Cuz that covers your minimum monthly. expenses for a month, so you can figure. things out if it if anything bad. happens. Yeah. Put that aside in a high yield. Don't. touch it. And then after this, take it. up to like 15,000. bucks as an emergency fund. In a couple years. But again, it's still. two whole years if everything goes well. Yeah. Like 100% perfect. So, I am nervous about that. Yeah. The market could slow down for real. estate more than it has. This could be a. five-year process where you're forced to.

get another job. I don't even know. I don't even know. The market could take. up and you could be like every realtor. for the past couple years and you know, making a killing. Yeah. And turn this into a one-year thing. So, could you I mean, it might be more. to do, but how. how would it look if I was just paying. off the credit cards first. versus versus paying it all off. immediately? You mean. I said pay off Macy's first, then. Platinum, then Discover, then card, then. bad student loans. I'm talking the money wise as far as how.

long would it take me to just pay off. that 12,000 instead of the 28. Cuz. that's where I have really am like. solely tunnel visioned on is the credit. cards. But your cards are 16%. The cards are going to be yeah. You're barely in the 60-year period or. 60-month period of that. So, the. interest is coming out heavy. So, it. needs to be paid off as well. Yeah, I know you're right. The only thing I'm saying you can. probably wait on. minimize is the $5,000 of the student. loans and. We already did. Yeah. We already did because you're going to. just do minimum monthly payments until. those are paid off if they're under 5%.

interest, especially if they're under 4%. interest. Yeah. I'm assuming the 2,000 are likely going. to be 6% or higher. So, we want to pay. those off cuz it doesn't make sense to. invest in the stock market that averages. 8% if it's over 6%. Not necessarily. We'd rather just get that Yeah. Okay. So, it all Yeah, no, it all needs. to come down. All of it. It does. And then I think the way you do. that is this it's mostly the snowball a. little bit of the avalanche. Avalanche. you attack high interest rates first to. low. Snowball you do low balances to.

high. So you're mostly doing low. balances to high when it comes to the. credit cards and car, but then student. loans because of the lowest interest. rate even though they're one of the. smallest with the high interest one. we're still saving that for the end. So. it's a mixture of both methods. Got you. And because they're paused right now. anyway for a couple more months. What? That was a lot longer than I thought. it'd be. Cuz I'm like I have a couple. Well that's what that's what that's what. happens. And again, that's in the most. optimistic scenario. So be more. optimistic by working more, getting.

another job that you might be qualified. in. Just work 80 hours a week. Yeah. Girlfriend won't like it. But she'll like it if you guys are. together for a long term and you're out. of debt and you're investing. She's completely behind me on it. Like. look dude, whatever you got to do. I'm. you're not paying like we go out like. and I'm like dude I if she asked to go. out it's terrible because I mean like. obviously raised traditionally. the other way around. But if we go out. and like she wants to get something I'm. like she's like I'll pay for it. It. doesn't matter. Like cuz she makes. decent money, has a savings, has all. that stuff set up. So she's like I'll. pay for it. It's cool. So she's very. behind me. I'm like look, you pay off.

these debts because I see that you. stress about them. Get it done, dude. Like she's like just whatever you have. to do to like obviously like you said. there's more time in my life. And this. is the best time in my life to start. investing and get stuff done. So. And again in the most optimistic. scenario you'll be out of this and have. a fully funded emergency fund by the. time you're 25. So you'll still have the. second half of the best decade of your. life. Yeah. But most optimistic scenario. I'm afraid it's going to take till close. to 30s depending on do we have an.

Is everything going as well as we. thought? Real estate I cannot predict. that for you. Of course. We've had a lot. of people on this show going to real. estate. And sucked. And it's just it hasn't been great. That was my first entire year I sucked. I was terrible. This year I'm like. tripling my I mean last year I made like. Well it's easy to triple when it's. coming from like a dollar. Yeah. So I was like, "Okay, cool. I'm. tripling. Let me just keep this momentum. up." And obviously, it could die, like. you said. So, I I'm just. expect mathematically for it to triple. forever. Of course. Yeah. But, if I can keep it. around that $60,000 range, 50 70,000,

I can. That'd be great. I hope you do. I hope. you do. Yeah. Are we going to go off of hopes? No. I don't know. Partially. I mean, kind of. We'll kind of go off of it, yeah. But, instead, what I would do is I'd get. out there every single day and just. grind. Yeah. Not just the real estate, but I'm just. saying. So, tell me what you're actually going. to do. What does everything going to. look like? What's your spending going to. look like? What's your budgeting going. to look like? What's your income going. to look like? What is your actual life. going to look like? Go. Yeah. So, I got to one thing I been doing this. I. have to increase DoorDash. DoorDash has.

to go up. That uh that 750 a month or whatever it. was needs needs to push higher than. that. Um I could easily do it. It's. literally just my mind where I'm like, "Dude, obviously, there's there's a lot of will. and discipline involved in all of this. So, DoorDash needs to go up, and I know. I can do that. Um. And as far as everything else as far as. spending goes, I. I've been doing better. I mean, if. you've seen my past stuff, like you saw. on the Police and Fire, there was. Chipotle, Wawa, Chipotle, Chipotle. It was bad. It was bad. It was bad. Yeah. It was [laughter] bad. It was Sometimes.

twice a day. Uh. So, that's done. Like, all of it's done. All my cards are locked and cut up. So, it's straight debit card, and I can see. exactly how much And everything that I. do buy now, I'm looking at it like, "Okay, that's 20% interest on that. because it's not going towards that.". Remove them from your digital wallet as. well. Yeah. Those are there. Digital wallet's done. They've Yeah, they've I thankfully never put them in. anything. So, digital wallet's done. It's just debit now. And. yeah, like I said, I I have Credit. Karma. Thank you. Yeah, I I'd see your videos all the. time, and people pull it up. I literally.

look at the number every other night, and I'm like, "That's a huge number. This is a terrible credit score. How. much. if I just take a chunk out of it, how. much less am I paying? If I just take a. chunk out of it here, what day, what. month am I done by? Like I said, in my head I kept it mainly. credit cards. I'm like, okay, 12,000 I. can stomach that in a couple months. I. can pay $12,000 off in 3 months. If real. estate goes well with what I have. already under contract, great. [snorts]. When you pull in everything, and. obviously the car note's terrible, uh. and the student loans, that's. I'm going to have to almost snowball my.

mind on it, too. Like I want to tunnel. vision and just be like, it's only. credit cards, just pay these credit. cards off. And then when the. car debt comes around and the credit. card's paid off, be like, it's only a. car debt, pay this car debt off. And. then once it comes to student loans, cuz. holy crap, that's a a lot more than I. was walking in here feeling. Cuz I'm. walking in here feeling like, okay, I'm. going to make a couple thousand in the. next couple few months, credit cards are. paid off, I'm done. But. So, like I said, no more eating out at. all. Um working more, I could definitely do. that, and I have the support behind me. There's no reason I can't.

Um. Yeah, and then hope that. like I said, I I want to by the age of. 25, I want to start investing in a Roth. IRA. I want to start investing. I want. to have an emergency fund. I want to. have money put to the side for I actual. entertainment of some kind. Like. it's crappy. And like I said, most of my. life and with the Tesla and everything. that I had, it was all just keeping up, having pride and all that. And I. pridefully could not sell that car. I. would have probably died in debt 100. grand before selling that car. But I had. a car accident, it was like, okay, cool,

this is this is the perfect time to. actually get my together. So, um. dude, had you seen this when I had that. $900 car note and insurance together, it. would probably just been like, yeah, you're just going to die. Like, good. luck, dude. So, I know this looks like crap. This is. optimistic more much more optimistic to. me. Um. so I feel it. I feel the momentum behind. me now, and like I I know it's it might. die off, my momentum might die, and I I. can't let it. Like if I. Just make sure you save up your $2,000. before you start going crazy.

Okay, that's doable. For Lyle, it's. going to be a difficult situation to get. out of, especially with the income. that's being shown. So, really he just. needs to buckle down, get that income up. through whatever hustles he wants to do. But, as long as the income is coming in, that is the solution to this issue. For. his hammer financial score, spending. within a budget, well, he was clearly. missing payments on some credit cards. only a month ago, and the income to his. spending. the spending is well over the income, and that's just for his needs category. So, it's going to be a zero out of 10.

[music] Debt, one out of 10. One, and not a zero because there's no. IRS debt or debt in collection. So, he. gets a point there. Retirement, nothing, zero out of 10. Emergency fund, nothing, zero out of 10. Real estate, nothing, zero out of 10. So, aggregate, that. comes down to a zero out of 10. We. haven't had one of those in a while. Don't forget to check out the resources. in the description below, and feel free. to follow me on Instagram and Twitter, and Adam, don't forget to move to the. United States. [music]. Thanks.