31-Year-Old Immature Woman Refuses To Take Responsibility | Financial Audit

Hi, this is Elena. I am from West. Hartford, Connecticut and I'm 31 years. old and this is financial audit. 31 and you're you're based in. Connecticut? Mhm. Okay, what do you do. for a living in Connecticut? I am an. infectious disease physician. Oh, very. cool. So, I'm sure that's been. Super super easy, like NBD. Yeah. And. well, you're 31. How long did it take to. get into that position? Lots of school. Yeah, so I actually I grew up in. Pakistan.

Um so, because of that So, here you guys. have like undergrad and then you do med. school. Um but in Pakistan, you basically just. go to med school after like high school. So, I did 5 years of medical school. Um and so, that that kind of saved me 3. years. But, um. I still did 3 years of residency. I. graduated in 2020 and then I did. fellowship, got done in 2022. But because I'm on a visa, I was Yeah. And uh they were. the previous government kind of like.

messed with the H-1 visas a little bit. It slowed everything down. And so, for 3. months I was in limbo from. July to September. And so, I was. unemployed. Finally, my my visa came. through and I started working as an. attending in September of '22. Okay, very cool. Well, what do you make now? So, pre-tax I make 300 a year. Ooh. And. then there's bonuses on top. income we've had on this show, I think. Bonuses on top? What are the bonuses. for? So, there's two things that you can.

get a bonus for. There's uh quality. metrics or there's uh RVU-based metrics, which is RVU is just stands for. it's it's basically a value unit. Um and. essentially, if you see a certain number. of patients above their cut-off, then. you make a certain amount of like. um each like each RVU has a value. And. so, it's like this like really. complicated math thing that you will. make money off of. But that. What would you calculate your bonus at? So, I because I just started, um I was.

only there for 3 months. I did get the. quality bonus, uh which was I think. for anybody who was there. for the entire year, it was going to be. 15,000. But I was only there for 4. months. Oh, but it's normally going to be about. 15,000 a year. Yeah. Ish. Yeah. I mean, obviously then tax is 25% of that and. that hurts. But I got. I got a third of 15,000, so I got 5,000. and then 25% got taken out. Um and then.

uh RVU metric, we are a very small. hospital, so we didn't really we didn't. see a lot of volume this year, but um. there is an option of Pretty much you. expect like 5 to 10, maybe, to come up. So, um maybe 15, 20 above that. And when. does your visa expire? Oh, no. Now I'm uh. Now I'm good. Now I'm uh No, yeah. Um. so, it was a different kind of visa. before. It was like a It was a non. It was more like a.

training education visa. And now it's. more like Now it's like a work visa. Now. it's an H-1. And so, um it's for. So, as long as the company keeps. endorsing it? Mhm. Okay. But if you ever wanted to. leave the company? Um I could go to If I. finish 3 years, I can go anywhere. 3. years, that's all. Yeah. Yeah, and then I can actually. because of what country I'm from, I'm. from Pakistan, I can actually get my. green card within 3 to 4 years. So, that. would just eliminate the whole visa. issue. So, Okay, very cool. Yeah. Well, so I mean, I know a lot of people out.

there are thinking, uh why am I not. subscribed? And they should just. subscribe. Uh but I also know that a lot. of people uh. are like, she's making $300,000 a year. She has crazy bonuses. She's doing very. well. But you have a mess I know. crazy. Why? Well, I guess you've only been in. the position for not that long. So, it's. it's like, okay. So, now it's time to. start cleaning it up. Yeah, pretty much yes. So, a few things. happened. A um.

me being an idiot, like there's no other. way to describe it. Classic. Yeah. Yes, an idiot. But um so, one of my the. dumbest things that I did was when I got. this job, I So, there was also like a sign-on. bonus that was promised to me and I. thought I would get it when I signed on. But what I didn't realize And that was. 30,000. What I didn't realize was that. first, they were going to split it into. two. For the first you were going to get.

when you started working, so within 30. days of your start date. So, not really. a sign-on bonus. And the other half you. were going to get a year after you you. started working. So, more like a. retention. Yeah. And I didn't read the. fine print cuz even though I had a. lawyer, but like he. Okay, so you got half, 15,000. Half and. then down taxes, but. But no, no. But when I started working, it couldn't be So, while I was waiting. for my visa, I had. What was the What was the distance. between that time? 3 months. Okay. So, no income. Um and so, but when I signed my job, it. was in September of 2021.

because the visa process takes forever. and you have to like So, it took me a. year to get my visa. Um I was like, oh, I'm going to be I'm. going to be a baller. I'm going to like. live my best life. I should start buying. attending stuff. I should start like. buying shoes and clothes and just be. fancy and. Why? What was that mindset? Where'd that. come from? Because I was like, I'm going. to be a baller. It's going to be great. Cuz like I will say So, I think. um. it was. very dumb. I'm not even going to I'm not. even going to I'm not even going to play.

that game. But I feel like um. with COVID and all of that, I think a. lot of us like I was in the first surge. and took care of people in Chicago and. like a lot of like really. awful things happened. And so, I was in. this f-. ridiculous mindset like, you know what? You could die in 5 minutes cuz I saw. like very young people and very. Why do you anything if we could die in 5. minutes? But you know, so that was like my whole. That was That was 2021 Elena. This is. 2023 Elena. We've like grown up. Now.

we're 31. Now we're mature. So, so a year of like ridiculous spending. And then then I realized I wouldn't say. a year. I would say. 6 or 8 months. But then I realized that. this transition is also very expensive. I had to pay for my license, my medical. license. It's like 4,000. Okay. Um I had to pay for. um. a couple of other things. I had to pay. for my like DEA license. That is.

about 1,000. And then I had to pay for. my boards, which was 2,500. And then I had to pay for another the. Massachusetts like DEA situation, which. is like an MCSR, which is like 600. And. then I also There are a bunch of things. that I ended up had a. had to pay for. licenses, we're talking like 5% of your. income. No, but this was before. I had to I had. to do this before any of this happened. Well, how long have you been working. now? Uh now it's been 6 months.

Why do you have debt? Because. just, you know, cuz there was a lot of debt. I have I. actually have cleared out a lot some of. my debts already. So, but. yeah, I don't know. What's your. take-home on a monthly basis? Uh so, post-tax and post-retirement, it is. The 401k contribution? Yeah. It is 13,800. Okay. And then one of the reasons that I had. like a lot of loans was because 3 months. of living in Connecticut at my current.

place that I'm living at without any. income was. $15,000 out of my pocket, which I did. not have. So, credit cards and loans and. Seems like a lot of choices though. I. know. This is This is just you choosing. Yeah, but what what To get. I didn't I mean, come on. I didn't I. didn't The The wait, yeah, you can't. control that, but you can control what. you do in between it in terms of where. your money's going. Yeah, but I had to. like pay rent. I actually lived very. leanly those 3 months, but.

I mean, How much debt did you go into in. those 3 months? Um. those 3 months, I would say 15,000. You. lean, that's not lean. It was my my my rent was. though. My rent for a month is 3,500 and. It's not overly expensive, but it's not. lean. My rent was 3,500. Yeah, that's not lean. Because I was. that was the place I was going to live. in. I don't care. Live in a cheaper place. Mhm. But then I would have to move. again. Oh, cry.

What? So, the problem was I was supposed. to start working I'm trying to justify. all this Okay. No, I'm not No, we're not. doing that life. We're not doing the. justified life. Why do I not have a. checking account? No, I did. I sent it. to you. No. I did. 25%. of your income. So, technically fine. Wouldn't go baller, as you said, on your. rent right now when you're trying to get. out of the disgusting debt that we. haven't even Yeah. touched. Yes. We haven't even.

Do you want me to send you the my. checking account information now? Okay. All righty. Let's take a look. Okay. Yeah, this is incredible. But then. I Well, it's incredible the amount of. money that comes in, but you start with. a dollar. Yeah. I mean, I'm also trying to aggressively. pay down the debt. I'm also trying to aggressively to pay. down the debt. Um and so, because there was one debt.

that's no longer there. It was like one. loan that I like just I I paid out. $1,500 in that and that closed it last. month. Um cuz there were. three Upstart personal loans. to aggressively pay off debt. Venmo's. out $250. Goes to Starbucks. Goes to Jam. City. Does this. When Venmo was my Goes to Starbucks. Has. a subscription to Washington Post. I. don't care. Hulu. Venmo was my dog. trainer cuz I have a little dog who's.

anxious. Okay, but when we're trying to get out. of debt, maybe not the best time. Well, you know, the dog's anxious. I'm sure. Probably anxious from all the debt. Juggernaut. Yeah, I just got to support brown. journalism, you know. Yeah. How about support you not having. an endless amount of debt? Are you Do. you take this seriously at all? Uh yeah. It's just uh. I find humor the best defense mechanism.

Are you sure? Cuz I think you might find. Starbucks to be the best defense. mechanism in your life. Hey, Starbucks is, you know, I need my. morning. Yeah, you need to not have debt. and also brew coffee. I make better. espresso than they do out there for much. cheaper. So, I actually usually get like. DoorDash, Wolfgang Bakery. That's the groomers for my dog. Again, trying to get out of debt. He's a poodle, like can't like. for him. He needs a he needs he needs the. grooming. Yeah, use a $5 pair of.

scissors. Starbucks. Starbucks, dude, this is endlessly going. and Uber Eats won't stop. I think I I. think to be honest, I don't think I Uber. Eats that much anymore. I think maybe. like once or twice a week. Not really. Those are a few times a week. But then also Uberin and then Uberin and. doing a photo booth thing and Uberin and. then Uberin and then Uberin and then. Uberin and then Uberin. Oh, guess what? We're Uberin. That was.

when I was in New York for my birthday. Yeah? Otherwise I drive. Good. Yeah, cuz. birthdays, you know, they really care. about your debt. Yeah. Starbucks, Starbucks. Pandora, Pandora. Who has Pandora? I do. Well, yeah, but who has Pandora? Well, I don't know. I just um. I just never got into What's the one. that everyone Hotels, hotels. Klarna, great. What's Klarna? I don't.

have Klarna in here. Oh, I finished that. you have financed? That was That was. What did you have financed? a very old purchase. I think it was like. shoes, like a year old or something. It's all It's closed. I don't have any. I don't have any Klarnas anymore. I. still have an Affirm. I had a Peloton, but I sold it. Venmoing out $880. Um yeah, that was paying back a friend. who loaned me money when I was poor. I'm glad you paid them back. Yeah, cuz I. More dog stuff and yep, there's your.

Peloton membership canceled cuz you sold. it. Mhm. Good. Yeah, uh I sold it last week. Amazon, Venmoing out $300. We're. Venmoing out so much money. PayPal. something $417. Uh the PayPal Jam City, Jam City. Dude, this doesn't stop and this is just. a single month and this is like so many. freaking pages. Mhm. Yeah. More dog crap. And I love my dog so much, yet you are.

trying to get out of a bad situation. You're going to all these like extra. luxuries that are not 100% needed. Well, his costs now have gone down cuz I. I got him in December. Starbucks, Venmoing out $250. trainer. Anyway, so. um. Taking out $100 in the AT uh ATM. Who. knows where that went? Um so, I was. doing like the cash thing, like the cash. envelope thing, just like only spend. $100 a week. Good dog spot That's so. daycare, doggy daycare. Stop. Cuz he.

Where is he going to go when I'm working. 9 hours a day? Home, where like everyone. else's dogs are. But he's going to he's going to poop. everywhere then. Why? Train him. So, I got him in Decem- last week of. December. He's a puppy. 3 months. My dog pooped inside twice. maybe when I first got him. Well, Train. him. Look Google some things. Well, yeah. Venmoing out six Venmoing out Venmoing. out Venmoing out going to a spa. Yeah, that's what you need when you're trying. to go on a debt. Yeah, I'm taking this. really serious right now. I've matured.

going into all these doing all these. things. Mhm. Starbucks, Starbucks. Dude, why will. this not stop? This just keeps going. More doggy. daycare. Why will this not stop? he no longer. He no longer goes to daycare though. He no longer goes to daycare. Where does he go? You just complained he. pooped Now a dog So, I So, it was It was. the month of February and as of March, he's trained enough to stay at home, but. a dog walker comes in, but that's like. all your money. That's like half the price.

You barely had anything at the end of. the month. Mhm. Yeah. That's uh Are you really doing. everything possible to get out of debt. cuz you're. spending so much of your $13,800 that. comes in on a monthly basis? Yeah, that. is. I wouldn't I would say that I'm. trying to pay off the debt, but I'm and. I'm not not I'm not incurring anymore. I. only like I only spend on my checking. account. I don't like use my credit. cards anymore. Good. Have you chopped. them up? Uh. Clearly not a credit card person. They're not They're They're not I don't. have them. They're like sitting at home.

somewhere. Like even right now I don't. have them on me. Do you have a savings. account? I do. is in it? Mhm. There's I have two. I I have an. Ally bank account that I just opened. Um but I'm worried that Ally might fold. as well. There's like 150 in that cuz I. just opened it. FDIC insured I know, but. I highly doubt you have more than. $250,000 in any of these banks. No, I don't. You don't have anything to. worry about. Yeah, well, true. It's just How much do you have in. savings?

Uh. 300. dollars? Mhm. Okay. But I have. retirement and that is. we're not pulling from that, so it. doesn't matter. I had to when I was. when I was. when I was unemployed. How much? I pulled 7,000. So, we talked about the $15,000 you went. into debt. So, really you spent $21,000. to live in 3 months. Mhm.

Yeah. That's. Yeah, plus. not go lean. Don't throw the word lean. around here. Some people live off of. $30,000 a year lean. Yeah. Yeah, but I also had to pay for all the. other things that they would that from. all my licensing and stuff and then. Yeah, but we already talked about that. and Yeah, but a lot of my money ends up. going in interest though. Oh, a lot of. your money ends up going to all the. Starbucks and doggy daycare and a rent. that you shouldn't have got cuz it was. stupid and a rent you still shouldn't. have cuz it's only 5% of your large. income where the most of that should be.

going to paying off this debt. Mhm. Yeah, I agree, but What are you doing. here? Cuz you're trying to justify every. single thing in the world. What are you even here for? So, I actually I I feel like. Talking to the mic. Okay. I feel like I need a better road map of. what to do. Thank you. Um. I have gotten I I actually have gotten. better. Um I know that's. Hey, you can look at my Credit Karma. I.

went from like 530 to 517 like a month. Yay. But. I know. I still You're getting better at. still though from what we just looked. at. Yes. Getting better like. At what point is that actually a good. thing? Like you're the progress I don't. know where it was before this, but it's. still Mhm. It only matters if. you're actually in a good place. Yeah. No, I agree. I I guess it's Be an. alcoholic and go from a bottle of liquor. a day to a half a bottle of liquor a. day. Wouldn't call that half a bottle.

great. That's true. Um so, I guess for me um. the fact that I'm not incurring any more. debts is. That is a good thing. progress. That's good. And then I just I just. didn't So, I'll be honest, I didn't. really understand. So, I always thought, oh yeah, if I want to pay off my credit. card, it's fine I can keep using it, but. I have to keep paying it off, but I just. didn't It didn't compute that that's a. stupid way to get out of debt. And so, a. lot of my like my Chase card, like my. interest is like $400, like it's insane.

And so, it took me a while to like. really when I when I was like, okay, I. need to like get serious. I'm 31. Um. then I realized I have to like stop. using all my credit cards, which I did. Um and then I also realized it doesn't. matter I started doing the math how much. I'm pulling from savings for retirement. if I if I'm losing so much, like the. math isn't mathing with all the debts. that I'm like incurring with all the. interest. And so, I decided to like I. still contribute, but like less than I.

used to. Um. and so, I've slowed that down as well. because I just didn't. I guess I had no idea. 401k contribution percentage? It used to be. What is it? Uh right now it's 1.5%. Well, how much. is matched? Uh so, it's it's like a it's a. percentage of how long you've been. working there. Right now they're mat-. matching 25%. 25% of contributions for. you? Yeah. So, like Whatever of No, whatever.

whatever I'm contributing, they'll match. 25% of my contribution. So, if I'm if I. contribute like a thousand, they'll. contribute 250. Up into how much? Um. up till I think 6,000, something like. that. They'll contribute 6,000 or up until the. 6,000 you put in? I think they will. contribute up to No, actually my my. 6,000. My 6,000. But uh they will. But if you if you if you work there for. like 5 years or so, they'll do 100%.

match, but I've I've only been there. like 6 months, so I'm at a 25%. All right. So, I that's why I didn't stop the. contribution cuz I'm getting free money. from them. Depends what your interest rates are. Usually 401k match is like do it cuz. it's 100% return on your money cuz it's. 100% match, but if it's only 25% match, we'll see what the interest rates are. and these even are. Might not even be. worth it in that situation. Oh yeah, the credit card interest rates. are horrible. The loans aren't that bad, but the credit cards are awful. take a look. Yeah. So, the first card we have a balance of.

and this is your prime card. I can't. believe you accrued this on a Amazon. Prime card. $5,802.35. Mhm. Minimum monthly payment. $278.12. as of right now. Mhm. Yeah, $122. of interest charged this month. Let's. just keep adding up. your interest as well. Crazy. Yeah, the interest is a lot. It's.

the Dollar Chase one that's super. painful. So, did you say you stopped purchasing. on cards? When did you just stop. purchasing on cards? Um so, there's some. like that are on like I have some auto. deliveries, but I pay them off like. right away. Like if I if it's like 20. bucks What are the auto deliveries? Like toothpaste and stuff. I just get them in bulk. They're cheaper. from Amazon. But auto deliveries I'm seeing and Prime. Video is not an auto delivery. Yeah, that was. That was a subscription that I didn't.

see. 10 That 11 12 13. So, you have 13 things. on auto delivery? Yeah, trash bags, um. tea, iced tea. Okay, cut that. Okay. You don't need it. I will I will cut. you need I doubt there's 13 things that. you need. have like. Toothpaste? Yeah, get it. Garbage bags? Yeah, get it. I don't like faces. Okay. And then poop bags. So, I have cut. a I have cut a bunch of them though. Cut.

all them that you don't need and I don't. even know what they are. I will cut most. of them. Yeah, the Prime Video was um my brother. when he was there he like he made a. account and I didn't realize and I have. I have cut it down cuz I I don't really. do Prime Video. At a 26.74%. interest. So, again, the 401k match. makes no sense at this point because it. is not. beating that. Yeah. Now, we have a Chase Sapphire. This one is really awful.

Yeah, it is awful. This one hurts my. $9,675.89. with a minimum monthly payment of. $413.33. on a monthly basis. Death. You're losing. on a monthly basis $222.75. in interest. Mhm. And there were fees charged of $9.11. this month. What was that for? Uh that. was a plan fee. Um so, if you A what? A plan If you if.

you make a bigger purchase and if you. and they will like do a they will do. like a. a plan. Two are from DoorDash plan fees. Um that was that was from December. This. is from December. NO, IT'S NOT. YEAH, THE NO, THE PLAN. FEBRUARY 12TH. YEAH, NO, the plan fee is from recent, but the actual purchase because I'm. still paying it off. Something from DoorDash? Yeah, cuz it. was like a a big amount. Cancel it. Okay. I don't care. It's DoorDash. You.

don't need it. And we're looking from. the last. Oh, from the last little bit. cafeteria purchase at where you work. Pack a lunch. DoorDash, Barnes & Noble, DoorDash. Dude, some paw place and Amazon. You are. not making purchases on a card where. you're losing $222. on a monthly. basis, right? Does this make sense?

Yeah. Yep. Yep. Yep. The reason Oh my gosh, at a 27.49%. interest rate. So, again, it doesn't. make sense. The only reason usually I. don't get angry at people. I get angry. at the debt, but I'm a little angry at. you cuz you're just justify justify. justify justify. Here's the story. Here's Here's 10 stories. Yeah. So, No, I mean I I I agree. Oh, here's another story. What? a dumb It's a dumb situation. No, there's no story. Okay. There's no. story. So, we also have PayPal credit.

Yeah. This is the one that I'm focusing on. with the snowball method. Um it is now. So, that's the method you're doing? Snowball small to largest. I was thinking So, I wasn't sure if I. what I should do avalanche or snowball. because I have. um. such high interest debt. All right, we'll we'll assess. We'll. assess. So, We'll assess. Yeah, but I basically. based on that I'm paying this off right. now. Minimum monthly payment $115.

Yeah, cuz your minimum monthly payments. are stacking up, aren't they? Mhm. Uh. interest charged. Luckily, this one's. nicer than the other ones cuz the the. balance is lower of $10.18. Yeah, and I'm about I'm I'm. This one's this statement is a little. old so now. $96 of purchases. Stop. I didn't. Can I see that? Uh it's. an Uber.

Oh, that was probably by an accident cuz. sometimes my PayPal will automatically. go to, but I don't really I I never use. my PayPal credit card anymore. And you see a something USA something. US. Gas maybe? Yeah, possibly cuz sometimes. like it'll automatically like go to the. credit and then I like have to reach out. to change. one's at 28% interest. Mhm. Stop making purchases. Car debt. Yes, it's a lease. Uh lease term.

3 years. What's the lease amount? $718. No, that's your monthly payment. What's. the pay off? Uh 20,000. approximately. Death. Pay off of a lease. To pay off to get out of the lease. I. think so. I think so. I mean that's Yeah, that's. what I have to pay within the next 3. years. What is this car possibly? It's a Toyota. RAV4 Hybrid.

Isn't it a nice car? Not really. The new ones are. Yeah, it's. Yeah, it's 2022. I mean I I travel credit when I got it. So, I got it last year. I got a lease because I'm not a car. person at all and I don't know anything. about cars and I don't know anybody. here. I don't know anything about cars, but I know for a Toyota whatever $20,000. to pay over the course of just a couple. years with a $700. $18 minimum monthly payment on here.

Yeah, it was it was it was like the not. the best deal, but It was not the best. deal. But I needed an SUV because I live. in a snow area. You don't need an SUV. I. lived. needed like an all-wheel. no. I lived in like the fifth snowiest. college in the United States and I had a. sedan the entire time. You get snow. tires, you're fine. And it was two-wheel. drive and I delivered Jimmy John's. Justification justification. justification justification. justification. So, I lived in a very. warm climate. I've never driven in snow. before. So, it's.

And you learn. It was scary. Oh, it's. very spooky, but you learn. Yeah, I. actually There was the nor'easter I. drove last week and my car slipped twice. and I was like, "That's it. I'm going to. die." But. very safely. Mhm. Okay. Why don't you take a driver's class? If. you're out there not being able to. drive, that should not be the fault of. the rest of us who are driving around. you. I was driv I mean, the car slipped, but. I was You have student loans, no? Uh very little. Basically, they $3,000.

amount, but they are not You cannot. access them because they're from a. different country. Um I don't have like a statement from. them like and they're in my dad's name. So, it's like. It's not even under your name? No, it's my dad's name cuz that's Are. you paying Are you going to pay them or. So, my dad paid off half of them. I'm. going to pay off the rest of them, but. the interest is like 2%. So, 3 3,000 is what you're going to pay? I just want to make sure I put it in. your thing. Yeah, and but the interest. is 2%. Good to know. Yeah, so it's like. every now and then I'll I'll throw in. like $200 in that because it's it's not.

even 3,000. It's actually in Pakistani. rupees and because our currency is doing. really poorly, it actually the number. actually keeps going down. So, Mhm. So, the debt that we've gone through is. the debt that you have. Yeah, that that. is not really real debt. It's just like. a Not really real debt. Yeah, I mean it. is real debt. It's like 2% so. And we did the Upstart Do you know the. interest for the car that was locked in? Uh I have no idea. The lease I really.

don't would not know. What's range 26? Yeah, it's going to be something really. awful. But then I also have the Upstart loans. cuz they are. um. Those I have on my phone. I can get from. Credit Karma cuz I didn't know how to. like pull the statements. from them. So, he I had I had three, but now I have. two cuz I paid off the oldest one. So, this was the one.

This was a 10,000 loan. I paid it off. February 2023. Is it You paid this off? Yeah, just just now. And then it was. 10,000 and then. I have this other one. that is 7,000. that I'm a third paid off. The the minimum payment is like 100 So, $7,000 is left on it? No, 7,000 was. total. Now, it's uh 4,700 is left on it. What's the interest? It is It's actually. it's 7%. Okay, minimum monthly payment?

It's a hundred and 30. So, after I'm done with the PayPal. What is the interest that is accrued on. a monthly basis? Um or do you accrue it? Is it accruing like on a monthly basis. right now? Um. It's 7%. I mean like in terms of number? No. I was just doing the math. Yeah, it's 7% it says on per month it's. like 1185. Oh, yeah. Yeah, that makes sense. Yeah.

Mhm. So, this is actually not the worst. one. You're paying you're losing on a monthly. basis and I don't even know the car. I. mean the car is probably even worse with. the deal that you're in. Mhm. But just the the other debts you. have outside of your car Mhm. and outside of the student which is low. anyway, but $367. in interest on a monthly basis you are. currently losing. which on your income should not be the. case. Makes no sense. There's another. loan. What is it? It's another Upstart.

there's another one. It's another Upstart? Yeah. What's it. what's this for? Um, so this was. all of like basically the amount that I. didn't have any cash for. I also had to pay for moving and so it. was just a lot of expenses that came out. of. a fellow salary. I used to make 3600 a. month. Um, and so that was rough paying for. everything. You made over po- you made. $13,000 over 48% of Americans. Mhm. And.

you're complaining that it wasn't. enough. So you just went into all this. debt and all this debt. no 3600 when I was still in fellowship. as of June. I I made 3600 a month and uh. till June 2022. Okay. So, now. Yeah, this is the last this is the other. one. How much is left? Uh, this is a lot. This is 19,000. 19,000? Uh-huh. Death. Yeah. Minimum monthly payment? Uh, it this is. 450. Okay. Yikes yikes. Yeah, so a lot of money. Interest rate? 24. Oh! 24. 24? Yes. Okay, this is it.

That's it. No more? No more sneaky. little hidden debt? Uh, I don't I don't think so. Minimum. monthly payment that you have and if you. were at the income you were at before it. would just be insanity, but. be like $2,104.09. on a monthly basis. Yeah. Crazy amount of money and none of that's. going to anything productive. It's just.

things you've already done. Yeah. It's the stupidity of 2021. of your post-tax. Yeah. Okay. Yeah, no it hurts. It trust me. Um. it hurts my soul when I think about it. Does it really? Because you're going to. Starbucks and all this instead of going. full priority to get out of it. How much. is it really hurting? Yeah, no that's also true. I just I try. to justify it by saying that okay if I. everything. Yeah.

that I'm saving money in the morning. Um, the more patients I see the more. money. You're not saving money in the morning. Make espresso at home. Mhm. I'm I'm saving time in the morning and. time is money. Coffee? Keurig? Yeah. Get the cheapest. that $75. Keurig thing that's on a Walmart shelf. Yeah, actually someone gave me a. Nespresso. So. I will make Nespresso. I actually bought I actually got a bunch. of.

creamers and things recently cuz I was. like maybe I should start making more. coffee at home. I haven't made them yet. It's in the. fridge. Okay. Okay. Okay. What's your utilities on a monthly. basis? Uh, so my electric is 200. Uh, it's Connecticut super expensive. Internet is like 70. Um, gas is around 60. Um, water is like 20. Phone bill? Uh, oh it's like 40. I have like a super.

cheap plan. Good. But I also have to pay. for my brother's phone. He's in college. How much? 70. Yeah, my um my. have to? Because my parents said that I. have I don't care I don't care. Are you. not 31? Are you not an adult that exists. in this world? Yo, I get like really. emotional phone calls from my dad and. then I'm like okay. Okay, so that's manipulation. Tell him. to off. Yeah, um he they also want. me to pay his rent. Um, told them I.

wouldn't pay his entire rent. I would. pay a. a portion of it. Health insurance was taken before. Okay. What about your rent insurance car. insurance? Car insurance is high cuz I I wasn't. driving for a long time. I started. driving a couple years ago. It's like um. I would say 200 a month. And then. Insurance is probably like 20, right? Yeah, like 15 20. And I I already got I. already paid off the policy for 6. months. Oh, okay then we'll just do the. 200. Yeah. Yeah, I'm not paying for rent.

insurance right now. And the car is also. paid off till April last month of April. cuz I do the chunks. Last month of. April? Yeah. Then after we do the then. after we do then cuz it's like. of April? Yes, sorry last week of April. Okay. Yeah, cuz after I I do the 6 month. like. um chunks. Can I give you groceries? I'm going to give you groceries. I'm. going to give you groceries of $300. Going to give you toilet paper money as. in anything else you need to just you.

know operate the household of 100. I. will give you dog money of only. $150. No more of this that you're. constantly doing. That's food. and. you know whatever that's food. essentially. Food. Oh my gas. Uh, gas is. 40 40 a week cuz I drive uh 20 miles one. way to work. It's a 40 miles a day. Okay, so. I average that out to about $173 on a.

monthly basis. Anything else that's required on a. monthly basis? Uh. I don't. think so. Um. Not really. I mean every now and then. there'll be like vet bills for the dog. cuz I like I said I just got him and he. needs to get neutered next month so. that's going to be an expense coming up. Um You couldn't. I mean I. want everyone to have a dog cuz I love. dogs. I love my dog so much. Yeah.

You know, you're not in a place where. you can afford to get a dog. Yeah. Shouldn't have, but it's done. Yeah, um. and it was the first few months were. expensive because he had like the worst. separation anxiety. Now he's gotten a. lot better. So now he's just he just has. a dog walker come in and. Congratulations. Your needs in order to. survive on a monthly basis $6,977. a month. This includes like the minimum payments. or no? Which is 50%. That is the minimum. monthly payments which is 50%. So your. needs are 50%. That is correct. So your.

needs category is maxed out meaning if. there is anything we're missing or. anything at all that just happens. you're you're blown out. Mhm. There's. nothing else you can do. Yeah. But the. good news is you have $6,800 left. Mhm. In reality. Mhm. Not after your spending. But in reality we have $6,800 left. Yeah. Cool. Congratulations.

$6,500. left. PayPal's gone and the first. Upstart is gone at the end of month one. Okay. Second month. Your Amazon card is gone and you start. putting a little towards. the Sapphire. Okay. Then we're in the. third month. All goes towards the. Sapphire. It's almost paid off. We're in. the fourth month. You've Oh wait, did. you get my I have another credit card. the MasterCard the Bank of America. MasterCard? You didn't send it. I did. You didn't. Well, I your minimum monthly.

payment on this MasterCard is going to. be above your needs are going to be. over. it's actually not that bad. Um, that. What's the debt amount? It is 57, but. the interest rate is lower. 57 what? It's 100. Okay. Did you think thousand? Yes. No, I'm not. I'm not I'm not I'm not that crazy yet. Um, but the interest on it and that is. like it's lower it's like 17%. Uh, 150. Okay.

So, month number three instead of what. you did with the Sapphire you put it. towards the Master and the Master's paid. off and then with the Sapphire you put. it towards it for uh 1 and 1/2 months. and then Sapphire is paid off. That. takes us to your 5 and 1/2 months in. Then. we have the Upstart. So, I should do the snowball method. I. think that's best for you. Okay. Then in 3 months from there so.

what did we say we were 5 and 1/2? Uh, we have. of month nine. by the start of month nine Mhm. the. Upstart will be gone. The last one? Yeah, the big one. The big one. The big one. Then at this. point I would uh just pay off your 3,000. to your dad. Get that over with. Then put everything else for another 3. months towards. just pay off this car lease. So, buy it off early? Well, you pay it.

off early and then. just pay down the $20,000 and then you. have it for the next 2 years it looks. like ish. Then you can choose to buy it out or get. another car at that point in cash. Okay. Which you can easily save up for with. your income and without all these. minimum monthly payments. Your life is incredible incredible. without these minimum monthly payments. You're maxing out your 401k on a yearly. basis. You have no reason not to. You're. maxing out your IRA on a yearly basis. You can backdoor it if you want to. Doesn't matter. Yeah, I can't do a Roth. IRA, but I I'll have to.

I figured out how to backdoor it, but. I'm going to do it once I get out of You. max max max, but you have to get out of. debt. It's probably going to be like a. yearly process, but it only works this. only worked if you stopped the. Starbucks, you stopped the you stopped. the endless all these Amazon. subscriptions that you have been. continued justify throughout this. conversation and I to be completely. honest cuz I'm a very forward person and. it'd be irresponsible for me not to on. this side of the table. I have zero. confidence in. Mhm. Zero confidence. You. have not shown me in any way throughout. this conversation that you're going to. cut back. Yeah.

Well, I have cut back um because I used to be. I used to like eat out all the time like. every single day. I don't do that. anymore and. as opposed to So, the Starbucks like it. might cuz it just says $25 but like the. amount has gone down cuz I used to like. get breakfast and now I only I only get. a coffee cuz I eat at home. Okay. Well, now you're only making coffee at. home and you're only eating from home. and your grocery bill is maxed at $300. Okay. I know. If you follow the plan, you win. If you.

get your way through it this process, these interest rates at 25, 30% are. going to continue to balloon and you're. going to be doing this for years and. years and years and you're going to be. falling behind on your retirement. Yeah. Cuz what's your 401k balance sitting at. now? It is $11,000 cuz I had to pull the. seven. Okay, so you're already well. behind 31 years old, so. you need to start catching up but in. order to do that we have to do this and. you need to get a 6-month emergency. fund. Your 6-month emergency fund is. going to be pretty expensive. Yeah. You're about $7,000 and well, actually after we get rid of the debt. payments. So, your emerge Well, do you.

have an emergency No, your savings right. now is to three thou So, I would add an. extra month to this process and I would. quickly put $7,000. into savings. Okay. So, that you can. cover everything for a month in the. worst worst worst case scenario. Yeah. One of the reasons. uh. having an emergency. Let's let's get your emergency fund. figured out. So, right now it's about. $7,000 but after. your minimum monthly payments are taken. care of, $5,000 times that by six, $30,000. That's your emergency fund.

That's great. Yeah. That's what you do after the debt. payments. So, now we're like a year and. a quarter, year and a half. Yeah. So, my goal I know that it sounds like. I'm not serious but I am. Uh my goal was. to get out of debt this year, 2023, and by the end of 2024 save enough to. get it out put it out payment on a. house. That's a great goal. Lots of. people have goals. You have to take the. action necessary to do it. Yeah. I love. hearing about goals. I need to see. action. I need to see you actually doing.

this and I want you to do well. I want. you to be a success story. There's just been something I don't know. maybe the audience can tell me but. there's just been something about this. conversation Yeah. where I just cannot. gain the hope that I wish I had. But not. not the hope, the faith. But the hope is there. Yeah. Please do well. Please do well. I mean I. want to cuz it hurts me so knowing that. like interest is is just like it's all. my money evaporating. But if it's actually hurting you, your. checking account would reflect that and. right now it doesn't.

Yeah. Yeah. I I know. I just. I guess like. the one part of me is like oh, you know, like I have this high income so it isn't. really a big deal if I get coffee cuz. other people in my situation living much. larger like they're buying Chanel bags. and stuff and I don't do that. Yeah, we don't compare ourselves to what. people what stupid people are doing. I. know. So, that I think that's like a big. um. you know, just looking at people who are. in my situation and I'm like still.

trying to get out of debt because. um I have to support like my brother. because my parents make me and I and I. wasn't supported as much, so So, Have the conversation with them. Tell. them how dire your situation is. Show. them this video and show what you're. doing. Your plan is to get out of this. and then say you can support the crap. out of him once you are in a better. foot. But right now you can barely. stand. Yeah. Yeah. Um And also if they're manipulating you. and. they can go themselves. Honestly. Yeah, it's.

it's they're retired so there's not much. they can do. But I mean they own their. house. What pisses me off about them is. they own their house, they own their. cars. Uh they they actually own a plot of land. that they got for my brother's education. and they're like oh, we're not getting a. good price on it so we're not going to. sell it. And I'm like and they expect me. to pay for him till they sell it and. it's a little annoying. Cuz like that land is like like oh, we. we're getting like. this many thousand under what we're. asking. I'm like but. you know, you don't really need it. You.

don't need that like it's this was. supposed to be for him. Just don't let. them manipulate you. Just don't let them. manipulate you. Yeah. It's I mean. honestly like the phone calls like I get. like I just got two days ago like. messages from my dad like please please. please please pay his rent. I just paid. for his ticket and. uh it's. What's he What What's your brother doing. right now? He is in college first year. Undergrad? Yeah. Okay, studying? Computer science. Where? Uh in. Saskatchewan. Does he have a job? No, I.

told him Then tell him he needs to go. get a job. You're not helping until he. gets a job. You can support if he's. working his ass off and he's trying to. do as much as he can. If he's not, then. no no support. Yeah, I told them that he. has to cuz some of the withdrawals are. also for him. Uh I told them that he had to and they. were like no, he's like. he's not like you. He needs more time to. study and cuz I used to like work while. I was Well, I've said it a few times and. I'll say it again then go. themselves. I don't care. He can help.

support himself and if he is actually. putting in the work, then you can. support this fantastic or they can. support. But if he's not doing the work, then there's no support. no I agree. I um. Yeah, it's it's like it's it's a lot of. times I'm like yeah, I know. And he'll. learn real quick. Oh, yeah. I yeah, he he's a little. spoiled. Like he was visiting me in. December and he. didn't know how to cook or anything and. I was like honey, I'm not going to cook.

for you and within a month he was. cooking. going to cook you. I mean that's. I know but he would wake my mom up at. 3:00 a.m. to cook for him and then I was. like I'm not doing that for you. Yeah, he's definitely been spoiled but. I can't say you necessarily haven't been. as well. Yeah. Um. Just get your together. I will. Yes. Follow budget. Download any. budgeting app. I use Rocket Money. I. used to use Mint. They're all good. Whatever. I have Mint. I. Fantastic. Um it used to be that I I. will say that I'll tell you why I've. gotten better.

I used to cuz I used to have a lot of. anxiety about my financial situation. I. would never look at my finances. Now I. look once a day to know exactly where my. money is going. Um and that changed I would say two. months ago. Well, listen, it's more geared towards. college students but I think it'll help. in your situation. Check out my. resources. Fizz Sign up for Fizz. Debit. card helps build credit score. Your. credit score sucks. You want to get a. mortgage eventually. So, that helps but. it also helps budget. Yeah. So, this. will help you spend on certain. categories in a correct way. So, use.

Fizz. It's good. That's why I partnered. with them cuz it's perfect for the most. people on this show. a secured card? do that. It's a debit. card. Yeah. Any final thoughts? Uh I know I I know I probably sound. really entitled and spoiled. I'm not. Um. I just this is just how I cope. Um but I. do have. my goal and it's it's been a rough few. years for us doctors. Have mercy, especially infectious disease doctors. Um but it's been but it's it's been a. goal of mine to get out of debt and I. have. There was another debt that is not.

here because that I got out of in. January. It was another like personal. loan that I paid off. And then I owed somebody else money that. I paid off too. So, I've been like. paying off my debts like almost every. month. Um but the problem is now and I was. trying to pay off people before I paid. the cards because relationships can get. messed up if you. Yes. So, um I paid off those first. Well, since. it has been an overall negative. conversation, I though I don't see what. it was before, I'm happy to hear that. I'm hearing that progress has started on.

you spending. Not as good as it should. have been but I'm happy that there's. been progress and I'm happy that you. have started to pay off some of the. debts. So, progress is happening and we. can celebrate that. Yeah. Just buckle. down Yeah. and get it together. Yes, I. will. Hammer financial score zero out of 10. I. am in pain pain pain pain. We even. checked my blood pressure afterwards cuz. she's a doctor and we could check it. That's on Instagram. Check it out. Which. you can follow in the description below. along with the other resources. Don't.

forget to subscribe. Love you. Bye.