27-Year-Old Refuses To Sacrifice To Better His Life | Financial Audit

hi my name is Tony I'm 27 based out of. Las Vegas Nevada and this is financial. law. Vegas Nevada what do you do there for a. living. um live I don't really work I have a. couple stores that I go to my sales. representative for a company okay I have. a lot of stores out of California. and Nevada that's your representative of. or two from another company yeah so the. company's Linco products we service. truck stops gas stations with. miscellaneous things a lot of stuff for.

trucker supplies so we deal with that. kind of thing okay so you have ongoing. stores in your circuit essentially yeah. very cool a roster of places I go la. being kind of majority where the stores. are interesting yeah. isn't terrible from Vegas no three and a. half hours okay yeah cool but it's one. of my biggest stores is I have to be. there twice a week so that's why I live. in Vegas gotcha so heavily commission. based yeah all commission based okay. what would you guess or we could look at. last year you know something like that.

what are you bringing home a month a. year preview tax sure we can do pre-tax. to start with pre-tax. um just starting out and that was my. first year. not being full commission the whole year. but it was. I want to say at least 120. 000 maybe 110 before. okay wow you said that was their first. year yeah not full commission though. okay what do you think it's gonna be. full commission honestly probably not. too far off probably uh 130 if depending.

on how much I sell you know who knows. during summer what did you do before. this uh I was a manager at a gas station. okay so this is a big jump up yeah I. assume yeah yeah the gas station we. um had one of the guys from the company. I work at now service us which what oh. okay and so when I when I was leaving. he asked me if I had a job lined up I. said no I'm just quitting and. uh he offered me a job with the company. so very good worked out cool so no stake.

income tax in Nevada I know very nice. but after taxes what are you bringing. home on average on a monthly basis on a. monthly basis so. I guess the better way to put it would. be. because it fluctuates anywhere from sure. maybe. 10 to 12 Grand before tax and then I. take 30 off the top and I put that away. oh so this is contract yeah I'm at a. 1099. oh okay yeah yeah so. um yeah it'd be really cool if they took.

the tax away and I was just getting that. much no I have to take my own um taxes. away and so after I said 10 to 12. pre-tax yeah and so after that it's. probably around eight. eight grand a month well still I mean. that's pretty good I know Vegas is. getting kind of expensive but in general. 8 000 a month post taxes cool so what in. general before we jump into it from your. perspective is your financial position. situation. um. I think going off of like your rating of. like out of 10 right attending I don't. waste any money.

um well and everything's perfect yeah. yeah which is not the case Okay. um I would say probably I'm like at a. six I just I spent a lot on uh. on food tons I feel like it's. everybody's thing it's a lot on food uh. and miscellaneous like. I don't know how to say it like um. well it's not necessarily a bad thing. it's about allocation within the budget. yeah income okay so when it comes to. that I I'm never worried about my bills. I'm never worried about money for not.

having enough to pay for anything that I. need I've been paying off my debts. slowly I do kind of our dads yeah yeah. okay so I reverse budget where I take. away everything that I need to make sure. that's all taken care of everything. that's like my monthly bills my rant my. what I want to do for paying off. um certain debts all that's taken out. right away and then whatever's left is. more my working expenses because there's. a lot of those and then the uh. miscellaneous you know whatever I'm.

feeling like it's the rest for me to be. able to live and just do what I want. okay well we'll see if that works I mean. let's jump into some things here yeah. you have lots of different documents so. so let's start with M1 statement one. yeah no. no that's an investment yes I'm trying. to find your checking account that would. be my Chase one. that'd be more for my personal spec yeah. here it is beautiful okay so we started. with a thousand one hundred eighty two.

nineteen thousand one in. but essentially nineteen thousand went. out I mean you ended with just a few. hundred dollars more so I mean I guess. it depends where that's going but I mean. that seems like such a. that's okay if the checking account is. like a transitory you know account but. again it depends where it's going so. let's see here. um what is just management uh. m-o-n-g-m that's a big thing in Vegas. isn't it yeah it's one of the casinos oh.

and you go there a lot no. well that was initially what's on here. forty dollars and twenty dollars in. where I haven't seen purchases and we're. going Amazon things and you're spending. a lot at the gas stations it doesn't. look like all gas because these are on. the same day. um. McDonald's and Amazon so in so many gas. stations it makes sense you stop at them. a lot but why are you giving them all. your money she's been making money off. of doing sales to them you're just like. dropping five bucks here seven bucks. here you know money money you're gonna. do is Waters it's.

um. energy drinks snacks this is why you buy. big packs of them yes them in your and I. would usually and I would have them in. my car. but I don't do that as often anymore. okay I started off that way because when. I was training the guy that I was. training with he did that he had the big. packs of water and stuff like that so we. wouldn't have to be buying all the time. it makes complete sense yep that's what. I do that way I'm not spending. necessarily small transactions over the. course they add up like crazy which they. do uh I just don't. I just still buy advantage and stuff.

like that um as I go White Castle in and. out burger also known as the worst. Burger ever McDonald's tour Dash you. have a dash pass you have a subscription. to a service that you already paid. again putting Craft on gas stations that. aren't just gas Flying J Who even know. so that is maybe that's a gas station. but it's four bucks yeah so uh bar Stow. Barstow yeah. the city oh oh it's an ATM withdrawal so. we don't even know where that went and. then Wendy's and then these gas stations.

and Carl's Juniors so you're on the road. a lot so you're probably just stopping. at these drive-throughs right yeah. Holiday Inn Express bar. 123 dollars that one shouldn't be the. bar that one actually is probably just. the way they um okay okay don't stop. bars like that that would is most likely. just the service the hotel charge. McDonald's more energy drinks and water. and momentum house moment house that's. for uh I believe Creator Clash two. so pre-purchase and so it's cheaper it's. like 25 bucks instead of 40.

Pizza. hey I want to be incredible Clash. no I don't actually no I'd get my beat. well as standing now maybe but after. training and so who knows. yeah that would require me to go to a. gym. you're making money from only fans no. it's Universal this was uh my card got. um I would say hacked but. compromised so somebody took my card.

information they were buying only fan. stuff and McDonald's one night they had. the McDonald's they had a good night. apparently because they bought a bunch. of like only fan subscriptions and like. 40 worth of McDonald's yeah that was the. one McDonald's time that wasn't I see. that one yeah generally all the other 29. yeah. again just spending so much crap at. these gas stations yeah so what's made. me a little nervous so far. there's none of the money that we've. gone over have gone to barely anything. useful it's just like yes a little bit. of gas for your car yeah because you. need that for work and a couple grocery. stores but everything else has just been.

BS now here's finally something here's a. big chunk that goes out to rent so we. know your rent. is. 1534 which is not the case anymore why. is that I moved to a rent of what no 2. 000. all right it's gone up yes. yes to 20 of your post text. I mean that's still you know okay fine. and yeah there's some of the reverse. this is from only fans like that.

yeah and chipotle dude how long is this. space just BS here we go okay so a. thousand dollars went to Robin Hood I'm. good with that depending on your overall. situation but if we assume your. situation is absolutely perfect which is. not we'll consider that good. [Music]. me1000 what's that that's me that is my. other bank account oh that's my Valley.

strong or string I sent it I've typed it. wrong but it's Valley strong that's my. bill paying account so 3500 again the. savings which okay and then we're back. to Qdoba an Alamo store and Panda. Express and Wendy's and Wendy's and just. I'm not going to read all these there's. more tons of food. it just continues forever in terms of. the gas stations and McDonald's and just. uh YouTube premium I'm good with that. okay Steam games McDonald's and what is. this Realty Realty 50 bucks 50 bucks.

Subway okay so those 50 bucks were the. applications to uh houses to rent. oh okay I was just gonna scroll to the. bottom and see what's the same kind of. crap that's on here at barbecue barbecue. and Starbucks and chipotle dude you're. just spending everything. oh my gosh that's insane dude yeah. so the money that got transferred to. savings. was 4 500 which is actually great.

sorry five thousand and then I don't. know where that money went that you sell. to yourself though of an additional. three thousand yeah so but also okay so. that's your income but you also had five. hundred dollars brought in from savings. and then you also have a thousand two. hundred eighty three come in from Acorn. so we can't even count some of these and. again two hundred thirty dollars went in. from savings so money's coming in that. isn't just your pay yes you're.

transferring stuff in so what are we. doing there three thousand dollars. transferred in from savings why are we. putting money into savings if we're just. transferring it back. typically not how savings Works within a. single month yeah so when it comes to my. bank accounts I don't necessarily use. them the way I feel like most people. would having One Bank One account this. and that I have two main accounts one. four of all my bills now I know that the. money set aside it's all going to be. taken out from there don't have to worry.

about it and then this one that you're. looking through is my personal spending. account uh work expenses a lot of. personal expenses uh and then. the savings account under this account. for Chase is where I put my rent so I. just take my rent out put it in my. savings that way I know I have it I'm. not going to touch it it's going to be. there for the end of the month or for. the first time if you just budget in. general you'll know you have it because. you're not spending all the extra stuff. yeah yeah so I do that and then.

um I have another I have my savings. account then another savings account for. taxes underneath it uh under Chase and. that one I send to a high yield savings. account to hold throughout the year for. her. fine I guess this is probably the high. yield savings account his. yeah. let's see yeah because 24 000 starting. but you took sixteen thousand dollars. out ended with nine thousand taxes. okay that's fair that's fair you do.

quarterly no. the early first year doing it I didn't. really know the whole process of doing. quarterly. still don't I need to work with the CPA. probably yeah okay but nine thousand. dollars in an emergency fund with your. rent and what I'm guessing your expenses. are it's probably not enough wait is. that an emergency fund it is not okay. some of it can be if need be but uh it's. not necessarily for that is there an. emergency phone somewhere that I don't. have access to why I that's to use a lot. of my money.

that I would put to on energy drinks yes. I do spend a lot of money on drinks but. no it's uh I use it to pay off debts now. before we get into the debt so let's. take a look at the Robin Hood that. you're so this doesn't make sense we. were in Robin Hood we're on a Robin Hood. we're in Robin Hood we're on a Robin. Hood and we're just in here with 684. that's even the purpose of this what are. we doing yes so this one was doing puts. an experiment for me I put a thousand. dollars in just to see the option. trading did a long time ago didn't very. go well I feel like I've learned more so.

I just wanted to kind of see how things. would go trying different things more of. like. the market being very not much my strong. suit you mean I don't know kind of. what's going on when I should be doing. certain things more of a flip of the. coin uh one through 500 okay top S P 500. top 500 yeah you know pick a random. number okay that stock is gonna go up or. down who knows we're doing this if we. have debts. that was fun.

and fun that doesn't cost money doesn't. make sense especially stupid fun words. yeah such as losing money. yeah I don't gamblex you know I gamble. worse oh it has MGM on there remember. that yes was around for Super Bowl time. no February yeah that's for Super Bowl. well this is stupid stop pull it all out. put it towards what I assume the debt is. let's take a look at because you don't. have I don't think I have access to the. other checking account which one the. whatever the other technicons which is.

what just tell me what's sitting in that. other checking account that's not Chase. uh this should you should I sent the. valid strong one it should be Valley. Stream the attachment name at least I. know I sent it if not I can send it. again but oh yes okay that one has the. three accounts it all says alone that is. well yeah. okay so 582 dollars in here this is just. this is just rents and stuff that is not. rent that is. um car insurance.

um. credit card the loan the what is this. loan for two thousand seven hundred. fifty five dollars so it started off. around six grand. one but what is it it was because I had. four credit cards I Consolidated them. into this to be able to pay it off. quicker would you get into credit card. debt 18. why fresh. uh yeah fresh yeah well why uh was not. smarter than money. um I was spending money that I didn't. have where are you spending it on.

My Tattoos was a lot of it not credit. card money but more like a big reason I. went into credit card debt was. I left my job. and then I didn't get a new job for a. little while so I used my credit card to. pay for a lot of things which was very. bad and so I was because I wasn't also. making money to be able to pay off these. credit card debts and then I still was. like you know what I'm gonna go to an. expo and I'm gonna have fun with my. friends and I'm gonna spend all this. money when did that turn around when.

were you like hey I'm gonna stop being a. child and take care of my life hmm. that was when I was I want to say 20. I want to say 22 now. 22 23 maybe that was a while ago now why. are we still in the mess that is coming. up yes in the episode subscribe by the. way love you. the uh. that all that all the consolidation. didn't happen until. gosh 2023 2021 is when I moved to Vegas.

so 2021 is when I consolidated. to everything I was working. not making a terribly good amount of. money still spending not um smartly but. not not pay making payments going up to. this point uh and so I was like finally. getting more on track and be making more. making better financial decisions trying. to get everything on track so I can you. know actually survive and live a good. not debt life and so. things aren't changing really 2021 where.

I was taking things a lot more seriously. and when I was making a little bit more. money being a manager trying to pay. things off uh and at least well okay. something I'm gonna cut you off. something that's not correlating for me. because if we decided oh I'm a big boy. now all this stuff what are we doing if. we have these you're I I we haven't even. got into the other debts yet but you're. losing 41 dollars of interest on just. this one just this one and guess what. you're still buying Energy Drinks like. crazy like multiple multiple multiple. times a week also stopping almost every.

day at a fast food restaurant. drive-through and getting bottles of. water why are we doing all this if we're. grown up and we're taking care of debts. not taking care of debts. fair I was taking I think I took care a. lot of my uh other credit cards that I. had I had four I believe now I just had. the one we Consolidated as well well. that was the one time yes and then when. I got my new job this job I had to move. to Vegas didn't have a lot of money. saved up uh for that because I was.

it happened when I thought it was going. to be like a month after I quit it was. like three months after I quit I got the. job and so when I had to move I had to. buy a bunch of equipment stuff to rent. uh the the place and I use my credit. card uh not having an emergency fund is. an emergency yes it was very bad which I. didn't really learn about the whole. emergency fund and a lot of this stuff. until having this job and having more. money and learn trying to learn and. better myself uh through that but. so I re-upped basically my whole credit. card uh five grand Max it out again.

after consolidating trust me I hated it. too after I finally was like cool it's. all gone now it's back. um so I pretty much raised it back up uh. now I had the the loan plus then extra. five grand so that was around 10 uh of. just debts like that and the loan I. still have uh but the credit card I did. pay off I've got all my credit card. debts out of the way and then now it has. a balance again uh. yeah well I'm glad you're making. progress yes I am but this still. shouldn't be here yeah you could have.

cut the crap that you've been spending. and made a bigger dent in this well two. thousand seven hundred fifty five. dollars on your income could have been. gone if you weren't just spending on BS. month to month to month a month day to. day to day today yeah that's why I'm. here that's why you're here that's why. I'm here. but you knew that right well yeah to an. extent so if you know why didn't you do. it yeah because you didn't have to have. me say you've heard me tell other people. yes the. I guess biggest reason is.

getting everything under control and. after that. what if I get my thoughts together first. one second when going back to the. beginning when I said reverse budget. I put all my money away for taxes right. off the top when I get paid take the. money for taxes then it leaves me around. eight grand I take two grand I put it. into my bill sit paying account which is. more than my bills are for the month. um that way I always have a little extra. in there just in case who knows what. happened. um or like with electricity that can go. up or down I don't really know if it's.

on a set amount and then also it'll. accumulate over time having a little. extra cash in there. then after that I take away my rent. money so we have the eight grand two. grand gone six grand left two grand gone. for rent now. it's all my bills my rent my housing is. cool I have four thousand left when it. comes to a lot of I put a lot of money. in gas. which is fine for your job yeah I spent. a lot in gas and I spend a lot of hotels. got on you for those no no no that's.

what I'm saying. um so generally I try to leave. I think that left me with four grand I. try to leave 2500 just for like work. expenses and I do count food as work. expenses not on the days when it's like. the weekend or whatever uh pack a. sandwich dude get a cooler yeah I don't. care you're trying to get out of. terrible yes yes I used to lose 21 of. interest on this relatively small debt. I am just fairly lazy when it comes to. making yes you are yeah and you're. trying to justify it no yes I'm trying.

to dress okay I was. my bad so. I'm gonna be putting the we're just. gonna be laying out these deaths but to. start with you have that Valley dad. personal loan. 2755 0.75 with 226 but a monthly payment. with. 41.63 of Interest lost on a monthly. basis let's go through your other cards.

yep okay synchrony let's see here oh. oh that's a balance isn't it. is this paid off every month or is this. balance held. that's a big balance. is it three grand or is 11. nine hundred. yeah. nine thousand dollars out of okay wait. wait a second. isn't secretly my high yield savings. oh.

yes okay well that's on me never mind. Let's ignore that one I was like thank. God doesn't sound familiar. hour oh I was gonna say that balance. hurt me but it's not a bounce so no it. is a balance of your savings discover. yes that's a card looks like you paid. this one off every month though. yeah like I said I paid that one off how. to re I used it again because my Carter. compromised so I didn't have a card for. a while so I was using that one for the. gas from Sam's Club gas and and food.

mainly. okay and hotels but I was using it for. my work stuff. I want to get a more work related credit. card anyways to kind of really why it's. gonna just encourage you spending. continue to be at yeah because on here. we just have doordash Bass Pro Shop yeah. you need that for work and door dashing. and doordashing do we need that it's a. lot of doordash no yeah no no I want to. use it specifically just for hotels. um for miles and stuff and gas because. you get miles door Nash door Dash. Crunchyroll that's certainly not needed. yes Sushi probably not.

again lots of. uh hotels but we're not gonna discount. those for work so but going into gas. stations to buy drinks and stuff. absolutely no all the time not needed. doordash door Dash Roblox come on yeah. yeah dude doordash door Dash Chick-fil-A. doordash dude this is insane you're just. spending so much money on here yeah. Amazon doordash door Dash door Dash door.

Dash door Dash dude. stupid. I can pay this off every month but. you've paid 44.79 in interest this year. on this card so do you actually pay it. off that's why I was using my card for. uh was for food I know but do you. actually pay this off you've lost 50. bucks in interest this year we're only. almost three months in yes. yes I do I paid it off I think in. January. yeah that's when it was fully cleared. and then now you always pay it off right.

yeah yeah. hey okay. okay so that one I don't count that one. I count as like more of my emergency. card because it has a high balance just. in case I need it for anything crazy. emergency card is a stupid car yeah. that's why I don't want you that's why I. don't want to use it for that but if I. had it just in case I don't know I just. have it I haven't cut it yet. all my other cards when I was done with. them just cut them in half hey what is. this oh you have eighteen thousand. dollars in Chase savings. that was a 16 Grand moved two savings.

because it was taken out how much is in. there right now the payments uh. I'd hope for a second I had hope. so that's it you just said that one. credit card debt for credit cards yeah. because I had other ones that I paid off. so those are gone now now it's just that. one for the time and then here we go. there's a motorcycle thing yes. motorcycle car and then that the. motorcycle car the loan and the One. credit card that I reused those are all. my debts One credit card that you reuse.

the Discover because I paid it off but I. reused it when I Carter compromise and I. was just started using it a little more. fun which is why you can't trust myself. a card and a motorcycle debt you're the. second person that's done this now why. do you need this car for work obviously. motorcycle because I had a motorcycle. and then my girlfriend at the time got a. new one and I was like oh I want that. too and so I bought one which was a. terrible decision and now she's not even. your girlfriend. no. because it said at the time so.

I'm glad she has a lingering effect of. motorcycle debt 172 dollars on a minimum. lengthy basis and motorcycle that 3935. and one cent. okay. when is this done. what is the length. probably the longest length it could. have been 72. what how long have you had. it. um. it was a 2021.

brand new motorcycle so then. stupid yeah I know I don't even write it. CarMax auto financing Car Max Auto. Financing strong CarMax. it's a stupid you could get a probably a. better we'll see we'll see yeah what is. the interest rate on this bike debt bike. I want to say it's 18 18.99 maybe death. yeah not good should be lower. yeah. 19 yes okay.

okay let's look at this CarMax thing. yeah. 11. 000. 947 when did you get this. May last year yeah I made last year. dang so this is fresh what's the payment. uh length or the loan length. I don't think I did 48 maybe it was 48. maybe it's 72. oh geez dude why why'd. you go so big with these because you. were talking about.

half well before then but you literally. just did this a year ago. um. I feel like my thinking was it'd be. lower payment so I could pay it more. towards it be paying off faster I don't. know not very good thinking about it I. don't get that yeah. 12.45 which is right with the minimum. monthly payment. 314.71 cents. yes those are your debts three debts. okay. all right so your total debt pile is 18.

639.46 with minimum payments of. 713.21 cents. big minimum monthly payment and I mean. it's almost ten uh. yeah it's almost 10 percent. well it's eleven percent it's eleven. percent of your income dude right your. minimum monthly payment 11 of it's going. to debt did you know that no just. putting 100 payments uh. this is better hearing it that way it's. a it's a chunk yeah that's a chunk ten.

percent and anything is a good chunk in. like one of any category especially for. most technology to use then you have two. thousand in rent yeah so I mean you're. and then you're just spending all this. money spent a thousand dollars on. doordash on that one card yeah and then. so you know we're really training this. eight thousand dollars or nothing. because you're just living high and. crazy right now which it's fun to do I. get it and then you know you get a nice.

income for the first time in your life. you know you just completed the first. year and you're like. let's go yeah but let's go let's go pay. off this. debt instead yeah doesn't that make more. sense yeah that's what I want to do. that's what I've been doing slower with. other cards and stuff way slower than. you should this should not be here this. where this is for the income you're. bringing in there's no excuse that this. is here from last year there's no excuse. it should be gone and it should be gone. you know pretty damn soon honestly okay.

so well let's build out your budget and. then let's see how quickly we can pay. this off if we actually strap down be a. mature adult who wants to better Our. Lives yeah let's do it. okay. so of the budget two thousand dollars. goes around how much goes to utilities. including internet as well. um. let's say. 250. well gas isn't really that much my. lecture Bill last month was like 12. dollars.

okay 250. yeah I'll say 250 yeah it's. like 100. so so your contractor you pay. for your own health insurance. and your parents health insurance you. know what's the status 27 so no longer. health insurance uh don't have a health. insurance why not necessarily. for a job until. um I believe he said it was no October. November I was calling companies to try. to find any health insurance to get are. there certain times you can enroll. apparently.

get on health insurance use your car. insurance on a monthly basis. car insurance on a monthly basis. one. 17 for both. uh motorcycle is like. it pays for six months so like. um I only pay it for six months when it. covers the whole year okay so like I'm. not paying at the moment uh for that and. I want to say that's also is your gas. reimbursed no no how much do you spend. on a monthly basis in gas.

oh man so let's say if I put in 45 to. fill up and I fill up. maybe five six times a week a week jeez. yeah okay five to six times a week we'll. call it six just to be extra and it's 45. to fill up 52 weeks in a year divide. that by 12 months. a little town what 45 45 each yeah times. six oh yeah yeah.

there we go so gas is probably one. thousand seven hundred what's the. mileage on your car what is your car my. car is a Hyundai Veloster 2014. how how's the status of this thing. you're putting miles on it about 80. 1000 miles I'm 144 000 now oh. yeah yeah how's she doing it's unified. regular maintenance you know got any. tires recently uh do you have like a. monthly maintenance. like thing that I should put money.

towards no I don't but I I get what. you're talking about it might be smart. yeah. usually most of the time whenever. something happens it's in your situation. specifically yeah I get oil change once. every two weeks about. um really that's crazy so how much does. that cost every it's like 55 bucks a. month sorry then a month yeah. you could say. tires happen tires oh I I can. um. my apartment complex that I used to live. at they didn't allow you to work on your.

car yeah so now this house I can do that. again my own okay I can do all my I know. how to work on my car and do car stuff. for everything so I can now finally work. on my car and do everything I need to. okay except tires can't do that myself. then we have the minimum monthly. payments of debt of 713 21 cents. now what I'm gonna have you do just. while you're getting out of debt you. don't have to do this forever but just. while you're getting out of debt. you're gonna go buy a big cheap cooler.

cheap just from the grocery store start. from one I don't care then when you stop. at gas stations instead of buying a. bunch of drinks you're buying ice now. what you're buying are big packs of the. drinks that you like the energy drinks. you're buying. um the you're drinking Hotel coffee if. you like coffee or you're Brewing it at. home before you leave you are getting. lunch meat you are getting bread to put. in your trunk you're making sandwiches. you're getting chips you're getting. whatever that you want to eat but you. are buying it and we are done eating out.

for just a little bit because your. income is powerful and being wasted. being wasted right now I think just. because you do have to cater this a. little more other than other people to. put this on the road but just getting. that stuff and getting the ice we're. gonna do groceries five hundred dollars. also for someone who's on the road a lot. you spend a lot on rent. I know it sounds that way huh. then I'll give you a hundred dollars for. toilet paper and crap like that you need.

any other minimum monthly payments that. you have to take care of that you can. think of. things that are in your life that. um something that I'll say I put money. towards I don't want to. say exact details their personal details. not for me but for my family I help one. of my family members I want to give them. money yeah how much 500. all right how long have you been doing. that that just started all right.

sorry it's been two months now so this. next month will be the third are you. enabling bad behavior no I'm correcting. bad behavior. for them. it's I can talk about it off camera no. it's fine you don't have to say anything. you don't want to no I don't mind saying. I just don't want to see you on camera. no I know the only reason they're. getting this is if they don't have bad. behavior if one inkling of bad behavior. no longer happens oh okay so. kind of positive reinforcement version. yeah so the thing with your family for.

500 on a monthly basis is there agreed. upon length of time or no definite and. and definitely yeah I guess you say. until 500 a month. okay until things kind of get under. control uh on their end so on the spot. we can always miss some things that are. recorded on a monthly basis to survive. but what we have right now two thousand. dollars for rent two hundred fifty. dollars for utilities 117 for car. insurance. one thousand one hundred seventy dollars.

for gas 110 for oil changes 713 dollars. for your minimum debt payments five. hundred dollars for groceries hundred. dollars for toilet paper and other stuff. that you need for the apartment to keep. your apartment functional and five. hundred dollars given to a family member. what's your cell phone bill on a monthly. basis cell phone bill is 110 are you. financing a phone no. not anymore who is this through Verizon. yeah Verizon's the expensive one. I'm on the road a lot it's that and also.

my iPad for work has a line. so that always has signal that's where I. put all my orders through it has to have. signal. well that's what I thought at first but. I could probably just do hotspot yeah. you 100 can yeah I do hotspot when I. started they were like oh it's never as. good singles blah blah of course well no. no not not Verizon my work. um the guy that I was with he tried. hotspot for a while and he didn't like. it but anyways most of the time some. yeah my iPad does have better signal but. it's uh I have another guy that I work.

with and he uses the hotspot I'm like oh. I don't know. so I would just cancel that either way. yeah this is what's your minimal monthly. payments to survive your needs. categories five thousand five hundred. seventy dollars on an 8 000 take-home. pay meaning that your needs category is. seventy percent of your income 70 of. your income that's disgusting that's 20. over what it can be at its Max in order. to live a sustainable life yeah. that's terrible has it felt like you've. lived at 70 percent. no. then have you ever sat down and you do a.

reverse budget have you done the. percentages have you seen where your. money never got percentages I know my. money's going towards. um food all I'm like watch Pretty. basically yeah because if there's only. 70 going in needs then everything else. essentially has to be going to well I. mean the Robin Hood was trash so it was. nothing so the rest is just going to we. can take a look at a couple M1 accounts. real quick yeah they weren't really much. but no just started trying to get those. get those rolling Roth IRA yeah 515. bucks in a.

that should be the Roth that's your Roth. okay so it's not even close to maxed out. for the year no what I like okay a month. okay good. you can do a little higher than that now. because it's the well wait one month it. could be like 750 but it's 6 500 now no. or is it seven yeah and then 266 dollars. in another account or yeah one it's just. a lot of dividend kind of accounts okay. I'd be maxing out the Roth instead of.

doing this okay so your money is going. to because that's nothing so your. retirement's nothing so you're. definitely behind on retirement oh yeah. easily. and we're playing around with swing. trading and doing shorts on different. stocks this is this is bad dude so. essentially what you have to do. even getting rid of the debt. so even if you get rid of your minimum. monthly debts if you just get rid of all. these bad and high interest debts 60 61. percent. is still going to need so your needs is.

overblown you're just proportioning out. things that don't make sense a lot of it. is the gas if you know a certain thing. is higher like gas then you can't do two. thousand dollars in rent anymore you. can't do it you can barely do the 500 in. groceries and you're traveling all the. time you definitely can't afford this. thing you're doing to your family you. need to cut the iPad thing and probably. just get like T-Mobile or something. that's like 70 bucks I do 70 bucks and. T-Mobile is fine so at least here I know.

it's different in every part of the. country so either way. two thousand hours of rent on your. income okay but. when you're doing a thousand one hundred. seventy dollars in gas on a monthly. basis you have to take from somewhere. else because your needs is overblown. even without the debt so you. you just moved into this place didn't. you yep you're moving down next time. unless your income goes drastically up. but you can't afford it it doesn't work. unless you get a job where you can make.

the same amount of money but you don't. have to pay for gas and oil changes you. know it's it doesn't work anymore you. have to come from groceries you have to. come from yourself you can't do the. family thing anymore you have to cut. this down too much is going to your. basic survival. on a monthly basis does that make sense. it does it doesn't feel like that but it. doesn't feel like that because I'm also. not really putting anything towards. retirement or anything yeah so yeah in. the state of just living I'm perfectly. fine like.

but of course you're not don't feel. negative I don't feel like I'm doing. anything wrong other than spending but. you know you are though correct but I. know I'm not setting myself up for the. best. um yeah you'll be dying on the Walmart. floor yeah yeah so that's what happens. in your 90s no you don't want that I'm. not going to be 90. okay. but you don't want that right yeah if. that's what happens what happens no no. no why not prepare for it I'm so. confused. so you would rather this than save for. retirement well is that what you're.

talking about I'm hoping I make it to. retirement yeah. the okay let's just talk about the. average American you will if you're an. average American yeah our life expense. expectancy is much lower than the other. industrialized countries. but either way you would still make it. to retirement statistically speaking. unless there's something I don't know. about. no okay. okay why has like one out of every four. people said that on the show I don't. know really that's a bad mindset just.

stop if you're just unless you're a. statistical you know outlier you'll. probably make it to retirement so would. you rather. I would much rather make it to. retirement mainly I would rather have. something to be able to give uh to. someone else if I have them okay well my. question still stands then because what. the way you just talked. is this okay. or are you gonna change it like we. haven't even talked about what to change. yet. so to me at the moment yes it's okay I'm.

fine with the way I live and I can I. don't want to give an excuse and it'll. sound like that but I'd rather I guess I. could tell a story but I don't know it's. up to you if you would like to hear it. or not. um. other than that I can hear your. attempted justification that's why I. would like to change things to be able. to have some sort of financial future. that's why yes I've been doing slowly. very slowly changing things but I have. been changing things with what you just. said though saying that you think this.

is okay yeah I mean that gives me you. know confidence though come on dude so. if you don't think this is wrong then. what change would ever be done. the fact that like the fact of hearing. it like seeing all this and hearing it. is very much like a very big eye-opener. of uh wow this makes it so much more it. makes so much more sense when you say it. in percentages versus me I never did in. percentages I would always just do it in. uh just on a spreadsheet just seeing how. much I would need making sure I have. everything taken care of. um.

my attempt of justification. sure. um. is something you might want to cut it's. up to you. um well 20 20. one. 2021. December 30th uh I was gonna kill myself. and so. it didn't matter like at the time. there's the time I was still working on. that working on everything trying to get. everything better that's where this.

comes in like what I wear. um I couldn't find this oh interesting. that night I looked in a specific spot. where I hit it I always had it in a. certain spot I looked for it that night. couldn't find it. um so I didn't go through with it. um but then I found it like a week later. in the exact spot I looked for. um and just showed up same spot so I. feel like it wasn't meant to happen and. for me the past year 2022 was more of a.

wow I'm here I would not have. experienced any of this if I made such a. drastic choice and was not here to be. able to experience these things and I. experienced a lot a lot of fun things a. couple friends got married very exciting. you know you wouldn't be here and Austin. getting yelled at exactly yeah. um and to some who knows that might be. better but. it's a bad joke uh yeah so I I you know. I was able to experience a lot of life. and has experienced a lot of things that. I would not have normally. um and so for me just being here and.

being alive is very exciting and very. like cool I'm being able to do all these. things so that's why it's been a little. slower in the sense of trying to get. things better I do want to get things. better because I want to be able to live. till I can at least turn 59 and a half. and get my money on my rotary I want to. have kids and I want to have a family. and I would love to have all those. things. um but. that's why now it's like it's totally. fine I'm alive I'm here like I'm able to. do these things now I don't feel like. I'm struggling at all all my bills are.

always paid I never feel like each month. I feel. um stressed about money I just feel fine. oh but I know I can do better and I want. to do better and I want to be able to. have a future good to look forward to uh. which I do but I I mean it's just. beginning there that's. not sure it's still an excuse and it's. still what it is but that's more or less. where my mindset comes from uh as long. as I'm able to be alive and I'm happy. which I have been. well I get it I get it and it's helpful.

let me just say first and foremost I am. very happy you are here today just in. general amongst us in the world and that. you know what you almost went through. you didn't go through I mean and that's. incredible and I'm very happy you're. here and I'm very proud of you for that. because that is like the hardest Place. anyone can be in life and I'm very happy. you're here today and it's Brave of you. to you know you know still be walking. amongst us and I'm very happy you are. thank you um I am not even close to.

qualified to talk about mental health. but I'll ask a couple questions one do. you still have the gun yes. do you think that's appropriate yes. unsafe yes okay two have you seen a. therapist no. would you consider that I would. okay I would highly encourage that yeah. not even. that's not even I mean I've said it a. billion times it's like being a dead. horse on the show it's not just for. anyone with any kind of mental health. issues no no no but it's great for. anyone and everyone I agree I think.

especially in your situation it's extra. valuable that you should consider that. and that's what the health insurance can. come in as well because it can help take. care of it yeah so. but that is something I would consider. and with your income you could cash flow. it as well. as just as it is so looking for uh. uh you know people in your area and you. know meet up with a couple therapists. see what Vibes with you yeah sometimes. it can take a couple times yeah yeah and.

remember if you're dealing with anything. it's 988 if I'm not mistaken I believe. so um I don't remember the logic song. yeah so 988 you should definitely reach. out if you're ever having any trouble. thoughts like that because everyone's. life is definitely valuable and worth it. and I'm very happy you are here today so. thank you uh for sharing that's a. dramatic story. um but thank you for sharing that with. everyone because I'm sure there are many. people who relate to it I appreciate you. listening yeah oh absolutely so what we. have here getting uh.

to the money of it all after your. minimum monthly payments what I need to. know first is are you willing to stick. to this budget that I laid out here. meaning that for a little bit and I'll. tell you how long. we're not going to restaurants this way. we're not buying Monster energy drinks. or whatever your vices. it'd probably be healthier for me. anyways okay you can conclude it in your. grocery bill to a certain extent I gave. you 500 bucks wherever that 500 bucks. goes your choice yeah I recommend.

healthy yeah of course your choice. so with this that and with we'll give it. a little extra buffer because where the. interest is but essentially it makes. sense in your situation to pay off the. valley first then the bike and then the. car that's the you know snowball method. which applies to most people. at some point a refinance would have. made sense but with where your income is. at today in the balance of these debts I. think it makes more sense to just plot. their own yeah and since it won't take. forever. I think the snowball method makes most.

sense to you yeah I have credit card. wise I tackled uh by interest rate. gotcha okay when it comes to like my. loan as well. um the minimum payment was 226. I don't. yeah people were making extra payments. 700 which is good yeah but essentially. what you need to do is you need to put. all 2430 that you have extra remaining. from this budget yeah towards the. smallest debt so Valley's gone you know. in just a little over a month okay and. essentially what it's going to take it's. going to take eight to nine to ten.

months uh for probably probably nine. months nine months of not going to Panda. Express and whatever else it is that's. my advice is usually Pet Express no. doordashing cancel it's following the. exact budget that we laid out we put on. screen and everything yeah if you follow. that and you put the remaining two. thousand four hundred thirty also could. be more if you make more sales you know. because this is we're doing the average. yeah some months it will be more some. months will be less but either way you. follow the budget. you put on average that much towards it.

you'll be out of bad. excuse me you'll be out of bad debt. in about nine months which is actually. great it wasn't about the end of the. year end of the year end of the year and. then from there with what you're again. your needs category is still too high uh. once your lease is done and they figure. that out I'd look at this family. situation I mean I don't want to get too. involved there because you didn't want. to share too much so you know whenever I. would take a look at it I would look at. the cell phone bill cut cutting back.

where we can to get your needs down. another 10 which is uh now but. especially well actually yeah now but. yeah when the debt is done as well. you'll want it down as far as you can be. from there with what your minimum. monthly expenses. should be of around four thousand. dollars for your needs to exist okay. probably want to have an emergency of. twenty four thousand dollars okay right.

now you had what in your high yield. currently nine thousand and then in your. Chase savings yeah two right yeah so why. don't you condense those into the high. yield. 11. 000. and then we need to get another. thirteen thousand dollars after this. emergency fund with the extra money not. having the minimum monthly payments. anymore. should take about four months. two. sorry fully fund your emergency fund.

okay so now we're at a total of 13. months from the beginning of this. process yeah but once you're done with. that in 13 months from now so just over. a year from now yeah then you can. allocate. 30 as long as your needs are 50 and less. 30 of your income can go again to eating. out to doing things that you want to do. that cost money there's free fun but. your expenses weren't necessarily always. just like fun they were just like I'm. gonna eat out because I'm on the road. I'm gonna do this this is but either way.

can't do that for 13 months if you're. gonna follow this unless you want to. expand this up to five years 13 years. yeah and you're already almost done with. the mo the best decade of your life for. compound growth when it comes to. investing so we want to start that as. quick as possible getting out of the. high Interest Bad desks which are the. only deaths that you have as quick as. possible and getting a six-month. emergency fund as quick as possible. which would be 13 months in your. situation unless you can make more money. or cut your expenses over both and then. at that point I would put 20 percent or. 1 600 on a monthly basis.

towards investing yeah yeah and I'm not. going to suggest with the investment. I'll just say for myself what I do I. just do General index funds scp-500. that's real estate personally. that's what I'm all about. I guess I can't really say all about. because it's not but also you're right. as I said 20 earlier is 25 of your. income so it's right on that cusp uh. either line either way that's what I. think that's what I think now.

what was that number I said you should. invest 1600 600 a month we're. essentially just gonna say you're. starting from Z or we'll say you're. starting from a thousand because that's. what it will essentially be because it's. not really going to change much until. then it'll be 28 at that time so you'll. have 32 years until you can start. withdrawing some things essentially. an annual return just follow the General. stock market of eight percent addition. of sixteen hundred bucks a month it's a.

great amount of money congratulations on. your income sir good job and clearly. you're doing well because it's. commission based would be about. 2.8 million dollars yeah uh for when you. can start withdrawing that money. at 59 and a half. looks pretty good that is pretty darn. good if you're taking account inflation. what it would feel like in today's money. it'll be anywhere from 1.5 million to. 1.9 million in today's money which is.

great still right but at that point I. should be drawing out only like maybe 40. to 50 000. well let's just say it feels. like 1.7 million in today's money if you. want to continue let it to slightly. continue to grow and pass it on you. could take out. 51 000 in today's money yeah uh and. would you feel comfortable fifty one. thousand dollars a year if you're living. on that now yeah so uh now oh yeah okay. because that's what it would be because. we're basing this on today's money with. inflation I mean what that'll be like. 100 yeah that's still I think more than.

the national average isn't it. uh the median household income I think. it's around 60. you're an individual. yeah uh I will say we know that like. it's 48.5 percent of Americans with a. job make 30 000 or less a year so yes no. that's okay yeah but it also depends on. what your expenses are at that point. yeah if your home is paid off at that. point which eventually want you to get. into that you know there's a lot of. variables but what matters right now. most is getting out of the very high. interest bad debt as soon as possible.

and getting your emergency fund so you. can start and Blasting retirement 20. although it's not to be 30 but a minimum. 20 yeah be great one of the things I. know I'm gonna have to try to work on. saving for is a car uh yes this job of. trying to blow through cars no your. emergency fund can help with that you. can get like a ten thousand dollar car. in cash when that you know breaks down. and then you want to pause everything. for a second go crazy and build up that. ten thousand dollars to replenish you. that is a method you can do but yeah. it's weird seeing it all laid out like.

this it's very therapeutic and feels. kind of nice but good I uh. it's weird because the last. like several times uh usually I allocate. 2500 to to work stuff. and everything so 2500 for the month. uh I give myself for all my work. expenses and my free fund spending and. so that left me with I think 1500 to put. to savings. um if I said if I said eight right so. two to rent two to all my bills.

um and then that left leaves me with two. six four twenty five hundred for. paying stuff and then leaves me with 15. for savings or whatever. um. so 500 uh would go to family so leaves. me a thousand of uh extra money which. would be savings whatever uh emergency. fund first uh the reason I didn't make. one first uh still haven't was I was in. my mind it makes more sense just to pay.

off my debts get them out of the way so. for that remember we're talking about. paint oh actually one thing I did forget. and this could help we're talking about. paying off the high interest debt before. you save up the emergency fund. with where your monthly air expenses. right now you've already paid taxes for. last year. I'd keep about five thousand bucks aside. then of the other six thousand dollars. you have I would actually throw that at. your debt in this situation probably. gets cut by.

the whole entire situation maybe six. months like in terms of saving up for. the Emergency well no because then you. go to save it up again maybe it gets cut. by about three or four months because. you got to save up the emergency fund. fully again yeah to the what did we say. 24 000 yeah so that's what I would do. keep five thousand bucks it maintains. you minimum monthly expenses for a month. I would also as soon as it comes up and. get health insurance and I would start. seeing a therapist yeah in general for. everyone yeah I agree now I agree but.

it's also so tough because. it's time it's money and it's hard to. open up sometimes no it's not that it's. okay it's um. it's easy to talk I think about anything. but I think I just I have that issue. where I don't feel like I need it even. though I know I need it I just still. feel like I I've always handled. everything alone my sisters Had Each. Other I've had no brother just me you. know my parents had. well you know they have each other to an. extent that's a whole other story but it.

was always just me so I always dealt. with everything myself. um relationships same thing. um I don't know it's I've always dealt. with everything myself and so seeing. somebody else for that it feels like. it's unnecessary although I probably. very much is what I really need like I. won't know it's just so hard because. I've known I should go see a therapist. for over several years but yeah. especially this over this last year I've. really thought about it but it's always. that nagging like do I really need this. what's really going to benefit me here. and I think I just need to bite the. bullet that exact thought maybe that's a.

bad analogy but that exact thought is. probably what 95 of the people. watching this video think what people. don't realize is how much it actually. benefits them it's just like any other. health physical health yeah uh Health. you know just getting checkups by a. doctor every what year or getting a. physical done something like that blood. work everything like that. this is healthy yeah it doesn't have to. be on a weekly basis it can be bi-weekly. it can be even monthly probably. bi-weekly would be best I don't know. that's up to you and your therapist you.

know depending on the person yeah you. know they can definitely determine. um this is really good for individuals. and I definitely recommend that so this. whole situation if you do it we talked. about could last 13 months it could last. 10 months depending if you use some of. the money you have now mm-hmm. and how hard you want to attack it okay. some of what you said makes me a little. nervous I'll be completely honest saying. that you feel okay with this but I think. we've gotten to the point it feels like. to me where you're acknowledging okay. that's the percentages this is what I.

could do in order to get to the. situation that I want to get to and I do. have hope I don't know where my. confidence is yeah but we will check up. in the future to see how it's going but. um do you have any final thoughts. um one just final recap better to pay. off the debts then. emergency fund then having a small. emergency fund and then pay off debt I. think in your situation with where you. are I think if we cover all your minimal.

monthly expenses to survive for a month. with the power of your income and being. able to attack this all pretty quickly. that should be fine it's going to change. person to person but that's what I think. for your situation okay so trust me it's. a little risky yeah but. um the better you get out of the bad. situation the better yeah. sounds good to me plus sales. sales. is all about you as long as you are. making money and bringing value to the. company I don't see your position. getting downsized it can happen to. anyone and everyone but as long as you.

are doing that and proving your value. and that value is compensated with. commission and we're seeing that you are. doing well with your income then I feel. pretty okay about your situation in. terms of the job and finances like the. 103 salesmen I'm usually top 15 so there. you go I'm not doing two kicking butt. there yeah uh so you said that was. number one did you have others. not really. cool well thanks for putting your. situation on display other people might. be able to relate to it so I thank you.

and hopefully they all thank you for. being here thank you so much. so for Tony. as is common practice here Hammer. Financial score is going to be less than. I think his six out of ten six out of. ten you know you're starting to get on. the better side of things there's a lot. of high interest bad debt here that. should have been paid off emergency fund. not fully funded and very far behind on. retirement then of course we haven't. even gone into the conversation of. owning real estate or anything like that. like a primary residence so it is not. going to be that high again uh special. thank you to him for coming on the show.

and anyone who does come on the show. love you all for putting in your uh. situation on display for now Hammer. Financial score is going to be a three. out of 10. make sure to check out the. resources in the description below and. don't forget to follow my Instagram and. Twitter thanks.