32-Year-Old Owes The IRS Tens Of Thousands | Financial Audit

My name is Joseph. I forget my age. I'm a cashier based out of Austin. and. we're back to satisfy my humiliation. fetish. Okay, so it is a follow up. You don't. have to see the previous episode to cuz. this is going to be a standard financial. audit but he is someone who has been. here so how how old are you? I do need. to know. 32. 2. You're 32 now. Okay. Cashier, so that's a new position. I've actually been a cashier since last.

episode too. You're working at the airport. Yeah, well, that's what I Oh no, I think. No, they moved me to cashier. So, you're a cashier. better for it and I got a pay raise. Pay raise, what are you making now? About 5 cents more. No, I'm kidding. We. went from. about $3 and change bump. Okay, what's the total hourly pay? $17 an hour after taxes. So. How many hours a week are you working? 40. Most weeks. Yeah, most weeks are there some weeks. more, some weeks less than. I.

So once once a month I like to get away. with a four three-day weekend. Okay, once once a month, just once a. month. I'd like to do that every week but it's. not very sustainable. No, it's not. There's a few Okay. Not for the bed I've made. Let's figure out your income first real. quick. Yeah. So, 680. Well, maybe you take off a little bit. for taxes. no, that's that's after taxes, $17. You. do the math. No, no, no, what do you make before. taxes? 20.

I've tried to save a step. Do 20 * 40, that's 800. You take off. taxes. No, cuz you take off a day, dude. Oh, okay. So, that's about. 40, just under $40,000 a year, 3,290. Your taxes. can't be that extreme. You're probably. bringing about $3,000 a month, right? And that's before we get into my gig. job, so. Good. Good. I'm glad you're increasing. income. So, $3,000 a A is that what. we're looking at? Yeah, I sure as hell ain't saving it. Is it a joke? No.

Uh. Is that your way of just. handling it essentially? Well, because I figured like I accepted. uh the fact that okay, you suck at. saving, so just make more money, stupid. That's not how that works. I mean, you. know that's not how that works. And then yeah, I'll probably just send. that to her. All right. So, again, you didn't have to. see the previous episode, but the one. thing you need to know, you know, complete mess, but you have. some money in collections, and we agreed. upon if you did a few certain things, which was essentially I I don't remember.

the exact thing, but it was a strict. budget that we had to follow, not eating. out, and seeking some help for your. addiction, then I would pay off your. collections. Have we met that? One half. What's the half? Took care of the addiction. What do you mean took care of? You're. seeking help? No. For the porn addiction, addiction to. porn? Yeah, but I'm. I'm no longer in that. So, that's I have. Is that how that works? I I practice what's called known as.

coraling. I don't know what that is. So, basically, because I know that um. like I don't have my Xbox or anything in. home, because I just know that. basically, when you take off a bunch of. lanes, that will that. kind of deter What's up? This means talking to the mic. Oh, uh. basically, I just kind of removed. uh all distractions, because I'm. basically I view myself as a donkey,

and I'll just kind of wander, and so to. ensure that I. What are you on about? What do you. actually do? Yeah, I can't really articulate it. correctly. I'm just basically uh. ensuring that I have nothing to do but. productive things in my life. by just I just took a class. Okay, so you did a half of it. What's. the the other half was the financial. part of it? Yeah, that uh. Actually, you didn't do a half of it cuz. I said you had to go to a meeting. Yeah. Did you go to a meeting? Yeah, about that. Uh. the email you sent, um.

I went through. Yeah, I deleted all my emails and in. that email was the thing that you sent. I should have uh asked you. What are you talking about? Yeah, and I was too embarrassed to tell. you no, I deleted like all of my emails. cuz there was like 80,000 of them and I. forgot to favorite that one. You could have seek help on your own. It. didn't have to be that exact one. I. didn't care. Oh. Oh, come on. Don't bull. That's bull. No, I did delete like all of my emails. I know, but that's bull You could have.

easily gone. Yeah. Well, this is this sucks. This is super. disappointing. Dude, I wanted you to do. so well cuz you know I love you. You're. great. You're fun to be around. If you don't want to be a. disappointment, make sure you subscribe. cuz we're really trying to get to. 250,000 subscribers. Thank you to everyone who has subscribed. subscribe button. Why, dude? Why? So, what's the other half then? Describe. your financial situation before we jump. into it cuz I haven't even jumped into. it yet because I wanted to see you on. spot. I wanted to see if you have met. these goals. I didn't want to know.

beforehand. Describe your finances. Um I did save a little bit, but then I. had to use the emergency. for like cuz I lost my work badge. And then I got. I got a subscription charge or something. I don't even use. Well, saving up for an emergency is. applicable in emergency. That's fine, but what was the emergency? Your work. Well, work badge, so what happened? I lost my work badge, so that's and I. kind of need that to work and that was. $150. Not to mention. money you saved up was $150.

Well, 200, 300. Uh. So, you didn't get to like a thousand or. anything? No. I I started doing that in January. Um and then well, actually no. You may. not. You'll be happy to know I actually saved. a thousand dollars. Okay. And? I sank that into insurance. And uh. Okay. Health insurance? Uh. Car insurance or what? working on I'm working on the health. insurance part. Thanks for reminding me. I got to call them when we get out of. here about my status my enrollment. status for some health insurance through.

my work. Um but I do have car insurance um. finally. We did it. It took 20 years. Progress. Um. and. uh because of what happened last year. with or actually maybe this year. because there's like of course regular. profits in tech and they basically just. said, "Okay, are we getting bonuses? No, all y'all get the hell out." So, um. for me that sent the message where like. if they can get replaced. I'm just a cashier grunt, so I can.

definitely get replaced. Like there's. Typically, your jobs are the ones right. now where like they're desperate to hire. though. There's still a worker shortage. shortage. Yeah, it's if it's like but the way I. see it because if it's something in. demand as tech, then if it's it's not. safe for them, it's not safe for me. This is a long answer to describe your. finances right now. Oh, no, but I mean as a result of that, that's what compelled me to be like, "Okay, I'm just going to I'm going to go. back to side work again.". What are you What are your side hustles. right now? I'm sinking in. are the incomes with them? Um so, there's combination of Favor and.

Uber and I'll be looking into others. just so I don't get bored of one of the. other. How much are you bringing in on average? Uh. nothing. Because I've. Okay, Favor I've. Like maybe 500 a month with Favor. Okay. So, like cuz I haven't been doing it as. much. Um but I've sunk all the money. into like my insurance loans cuz Uber's. more lucrative. So, I think I'll be. doing. that more often.

You haven't started? Yeah, cuz I just got insured. Yeah. And. I want to I was going to detail my car. today, but I didn't have the time. Why do you need to detail your car? Presentation. No, I've I've never seen Oh, you a regular Uber-ing? Yeah, or that's what I plan to. it. Just clean it yourself. No. I don't do a good job. Dude, you're finding so many excuses to spend. money and just not get this.

taken care of. Well, what do you plan to bring in? What is. your goal on a monthly basis to bring in. extra? To bring in extra, say. 5,000 after taxes. Extra? No, just total. Okay, so an extra $2,000. Mhm. Okay. Good, I hope so. Then we're at $5,000. post taxes. You Since you'll be in a. contracting position, are you sure. you're going to be able to set aside. about 20% in your tax bracket ish, 15. 20% aside for taxes? Well, I've been putting away 30% for.

I don't think you'll have to, but. Well, I mean, I do owe. a. some back taxes. How much? How much? Well, I told you about that last time. I know, but I don't think we got to it. cuz it was just so much. How much? How. much do you owe in back taxes? Uh. only about 14,000. Dude, why? When did you not pay taxes? How long is. is this? Has it been like accruing? I didn't know 1099s were a thing, and. now that I do, it's just well, you mentioned 30%, but there's no way. I'm making like 100k a year. However, I.

do owe back taxes, so it's like 15 and. another 15. just talk. Okay. How long? How long How long has this. been due? Uh. Have they garnished your wages or. anything? No, not yet. Not yet. Keyword. How long? Oh, about 5 years. Dude, 3 to 5 years. And what position was that that you did. not pay taxes on? I was just doing favor.

So. Yeah, I just didn't Yeah, I've only. filed my W-2s. And when we one year it came back like, "Uh-oh, you didn't file your 1099s." I'm. like, "What's a 1099?". This brings you to about $60,000 a year. I'm going to need you to put about just. 20% of that aside. Okay, well, that's easier than what I've. been doing so far. Well, but then now we got to pay off the. debt. The IRS debt. of $15,000. I just I'm talking just putting 20%. aside so you don't. have even more IRS debt.

Yeah, to stop the bleeding. Do you know like is. what's the status of it right now? Is it. being Is it accruing interest? Is there. What What is the status right now? Are. you able to get on a payment plan? I. mean, yes, call them up, get it on a. payment plan. Let's agree to do that before my next. appearance. Uh yeah. Yeah, do you agree to do that? Yes. This is all on you, dude. There's no me. here. $20 $20 a week won't hurt. All right, well, let's get into your. financial documents. I haven't been able.

to take a look yet, so. I'll take a look. Statistics, you said. they're all statistics. Oh, so this. isn't even just your spending account. This is you writing down what you spent. Yeah. Wood forest, 16 bucks on book as you've. put it. Overhead, what's overhead? I I. don't know what is what here. Oh, that's Overhead is just what like. recurring expenses. What's What's your wood forest account. for cuz it's only 88 cents in there? Um. I keep it around just to have like if I. It's It's my vessel for if I receive.

cash, I can just put it in wood forest. and then use that and put it to my main. account actually. Cash? Oh, yeah, you know what? I do need to. keep first They started uh charging me. Oh, you know what it is? $16 because $10. was. uh because I had to change my PIN and. and another $6 was uh $6.95 was for. trying to remember cuz it's been a. minute. Why did you not follow my budget? Emergencies can pop up. Changing the. PIN, okay. And having to get a work. badge, okay. But why Why did you not.

follow my budget? Why are we here right. now and you did not complete the thing. that was that you agreed on? Why are we here right now and why did. you not follow this? I need to know. I'm not going to lie. I got discouraged. when I lost my badge. Cuz when you consider the opportunity. cost as well cuz I missed a few days of. work. And it's like that's like a $500 thing. we're going to put in your budget now? Now that you're getting health insurance. cuz you're going to call after this and. get health insurance, Uh-huh. you need to sit down with a therapist on. a weekly basis.

Mandatory. That's not even a. consideration. Everyone should really. Every single person in the world should. But you need to. To help manage through this process cuz. I'm not here every day. checking you out on a weekly basis and. I'm not a mental health expert by any. means. But you need one in your corner to help. you through these. When something like a. badge pops up and you get discouraged. from a $150. $150 $3,000 a month you. bring in. And if that discourages you, you need to sit down with a therapist.

Especially with the addictions we talked. about and stuff like that. Do you agree to that? Every 2 weeks. Yeah, if you I'm just happy if you just. start seeing them. So sure, every 2. weeks. I don't know why it needs to be a. compromise of some kind but you can have. fun. You can do this. So I swear this is. No. No. I can't do that in moderation, Caleb. Okay. Let me tell you. is this is where the mental health comes. in. Learning how to do those things in.

moderation. Let me tell you I put. I'm a thick hundred I'm not good at. doing food in moderation. So I get it. I. get it. There and that's something I. struggle with when it comes to my mental. health. And I've done therapy. Um you know, I'm. on a break now because the um. Honestly, I have no excuse. I need to go. back. I tell people they need to and it's very. hypocritical to kill hypocritical of me. to not currently be in therapy. You.

know, I've been off for like 6 months. I. need to go back. My last person she got. too full when I tried to restart so I. just need to find someone new. I get it. I get the moderation thing. Mental health dude, it is everything I. think in your case. Mental health when. it comes to these decision makings and. that's seeing a therapist. So $600 is. your rent. Yes. Now it went up from 300, right? It. doubled if I remember. Uh went up from 500. Oh to 600. Yeah. Okay. Now you mentioned last time, "Oh. when the lease is done I'm going to move.

into a super duper nice place." Are you. still talking about that? No. Good lad. Good lad. Charity what the $80 of charity? You. need to charity yourself. Wait, I think I received that. Oh that's okay. Sorry, I apologize. I was about to just freak out. What's. tribute? 60 cents is only 60 cents but. what is tribute? I need to make sure. Oh yeah, I have just a little Pikachu uh. what you call it like a piggy bank and I. just throw change in there. Okay. So it's not out. You actually have. Yeah, the charity is like. No, $500 in cash. Okay. I give rides.

Oh what is this? Wood another wood. forest one. The way you present this to. me is odd. Yes. I tried to make it I got it I'm. Cash to wood forest cash out of wood. forest. Let's see. What is a bull. bull fee uh pin charge? Okay. Yeah. Subscriptions What subscription are you. stash? Stash. I need a I need a email that cuz. I want to cancel it but they just like. oh you got to email us. It's like fine. I'll do that. I don't even use it. anyway. The $3 a month I spend the free stocks.

they give me doesn't outweigh it so I'll. just get rid of it. All right, let's look at your spend. statistics. So I was I was pretty darn. right in terms of the money that came. in. Super close to 3,000. It was just. slightly under. You're about 100 off when it came to. your main job. Then we have loans. Not sure what the loan is for. off a laptop loan. Good lad. Nice. Awesome. Awesome. I'm. loving it. Good stuff. Did you like. aggressively pay it off or was it. out a PS5 loan from Best Buy. Why are you smiling? Why is Is this a.

joke? I don't want you to be here if. this is a joke. I don't want anyone. it is. Just because I have a poor track. record poor track record record that. would suggest that I do that. You think. I did? Huh? Nothing. Is this a joke to you? Cuz I am not. going to waste the time of someone who. else could be on here that could have. help if this is a joke to you. do the PS5 thing. That was a joke? Yes. Okay, that was a literal joke. Okay. Thank you.

Cuz my blood pressure just. to the moon. Car. Yeah, your car. situation still intense. We talked about. Didn't we talk about selling it? Multiple times? Yes. $743 a month? Well, I made a extra payments on it to. kill more principal than interest. All right, we'll take a look at that, but. So really you you've chosen car over. your financial sanity. Is that I thought that was a good thing. What's the minimum monthly payment? We'll get to your car. We'll get back to. your car. And then financing there is.

finances of something. Financing the what you call it, the. laptop probably. Or maybe that was a loans too. When did you pay off the the Best Buy? the beginning of January. Like two two two weeks into January, I. think. Uh transfers $739. I don't know where. those went. Transfers for what? How much? Uh $739. This is your spend statistics. sheet. Oh, you know what it was is because. um. when I. Like I would Yeah, that was like my. whole paycheck.

And I was like, "Well, this isn't going. to be enough to start a new. um. insurance policy." Cuz what I did was. I got back with Progressive Insurance. And. in that when I started the policy, the. down payment I guess you could say, it. included. um the coverage and also the uh. What is it? The the collections that I owed them. So. Laptop taken care of, one of my. collections taken care of, and I got.

started on a payment plan from the cash. store payday loan, so that won't be. going into collections. So, little bit of offense and defense. Okay. So, we said uh. um restaurants, fast food, convenience stores, they vending. machines, they were not in the budget. Why am I seeing 100 uh basically $200 of. fast foods, $100 of restaurant? Why are you spending money at the. airport still of $43? They give you.

money. Well, once a week I'll just get. something extra from up there. No. You. No, not once a week. What do you mean? You agreed upon the budget. Why are you. not doing the budget? Why are you giving. yourself an extra thing a week? Well, most of that is pretty recent. because when I lost the badge, I just. said I'm just going to I just said. forget I have to. off so easy. $150 taken away from $3,000. a month. Well, okay, it wasn't that. It was like. the subscription I also got from Shudder.

and I was like, I forgot I had that. So, there's $200. it? Oh, yeah. So. And said, "Okay, I'm just going to be my. worst self." Man, if you had seen my. December. Then what is tech? 46 bucks? Tech? What did I buy? Oh, yeah, I went I. bought. uh like a charger from Target like for. like a USB-C to C. to charge my phone. I don't mind if you buy a charger if you. have to, but just stop spending money at. the airport, convenience stores, and. vending machines, and fast food. You know, I've um practiced the thing,

not all the time, obviously, of leaving. my debit card in at home. So, but sometimes I forget to forget. So, I'll make a mental note to do that. any morning. Leave your debit card at. home, stupid. What's it going to take to get you on. the right page? I know the answer is. mental health, for sure, but. Well, I believe I'm actively solving. that. Seeing Just seeing. when this. If not, I'll just fund the help the. therapy myself. You're You're willing to do therapy?

I would have to if I feel like I'm not. You got to get the health care set up, but right when Once it's Once you're on, you're willing to. I'm sure there are alternatives for. mental health. Please see a therapist. I will find a solution, not necessarily. Oh, this is the meme, this is the meme, isn't it? What meme? Men will do anything except seek. therapy. What's your issue with it? What's the point of being here if I. can't say something and you'll at least. don't try it?

I've. Why are you here? I've had therapy before, it just wasn't. effective. That's probably some It sometimes it. takes people to see multiple therapists. before they find the right fit for them. Oh. Yeah, I've only seen two. Try it, dude. Just please try seeing. someone. Do barbers count? You're not going to That I'm not in a. giggly mood. This is You disappointed. me. You were supposed to come in here. with a fix so I could pay off your. collections. You have Credit Karma on. your phone still? Well, you don't have that expense at.

least, yes? I could screenshot and send it to you. What? Oh, okay. Credit Karma. Oh, this is a driving. score. Oh, driving score. I thought your credit. score was 90 for a second. I was like, wait. I didn't know it could go below 400. It's improving. Excuse yourself. Oh, hey. Uh the home thing, I don't. know. The one that shows you both of them. Equifax. It shows Equifax and something. else. I got you, dude. I know how to use. Credit Karma. Yeah, payment history, Credit Karma. Your credit card use still. just.

all the way to the top. 3,423. out of 3,601. Are you still spending on. that credit card? No, that was that's my mom's credit. card. She uses that. Um. Treatment. That's right. I remember that. Okay, you. need to tell. We need to get you off of here. This is killing your entire credit. Well, she'll she'll take care of that. once the income tax. That's what you said last time. That's for her. That's what you said last time. She did not take care of it. It's been a. few months. No, I mean like it's tax season now.

Well, I took care of one collection. No, no, no. You just need to get off her. credit card. Oh. She's probably paid off, close it, and. then if she wants another credit card, she needs to open another credit card. Does she? I just I can't have you I can't have a. balance accruing on a card that you're. on. Did it did go up? Yeah, it's still dude, it's maxed out. Oh. She needs to pay it off immediately. You. need to tell her how important that is. Have you had a conversation with her.

about it at least? No. You need to cuz this is this is messing. with you right now. Oh, she's she has more incentive to fix. her credit than I do, let me tell you. She wants to get a house, so. Okay. She just have a conversation with her. that you cannot be on the credit. That she needs to probably pay it off, close it, and then if she wants another. credit card, she probably shouldn't. Well, that would kill that would bring. up both of our scores, no? Why back out. now? Huh? It'll get taken care of. Dude, she has demonstrated she cannot.

manage credit cards. It is maxed out. Why do you think this will remain good. even if she pays it off? You need to get. off of someone else's credit. Especially. someone that is not showing any. responsibility. Does that make sense? I wouldn't call it irresponsible. It's a maxed out credit card. What else. would you call it? Um. I won't say what she spent it on, but it. wasn't spent frivolously. Was it spent because an emergency popped.

up? Yeah. Then she was irresponsible for not. having an emergency fund. She's. financially irresponsible. Yeah. And then if there is if she had to drain. an emergency fund because of something. that they're always I can stem it back. I can. we can go to the whatever previous. situation and find a reason she was not. responsible in a way. Maybe she couldn't. afford to save up her emergency fund. Well, maybe that's cuz she was spending. all her money on bull. or maybe she wasn't working enough hours. to get an emergency fund cuz not having. an emergency fund is an emergency. And I.

promise you everyone in the world can go. crazy at least for. for a while working jobs in the world, but working 80 hours a week and save up. an emergency fund. I promise you. There's always extra very special. circumstances, but the vast majority. people can do that and I am a if I was a. betting man, I'd bet she could have done. that. So, she is financially irresponsible. and you're allowing her to bring you. down with her. Well, she works two jobs now, but uh.

Good for her. She has credit card debt, maxed out and that has not changed since. the last time you were on here. I blame myself though. That's an. indictment on me. I blame you too for allowing yourself to. be on there and for not getting her in. shape when it affects you. You haven't. had a single conversation even though we. talked about it last time. Yeah, well. So, I'm confused why. if you knew I wasn't going to pay off. the collections cuz you obviously did. not do what we talked about, why did you. not pay them off with two 281 and 220?

Oh, I didn't pay off those specific. ones. Any reason for that? I did pay off the progressive one. Because well, I needed to be insured. again. I figured well, not why not just. kill two birds with one stone. Okay. The credit score went up, I mean, incrementally. Yeah, I mean, it's making progress. You'll be above 600 especially if she. pays off her credit card or at least. brings it below 30% utilization. I bet. she's getting killed with the interest. rate. I'd love to have her on the show. cuz he very clearly needs help.

Okay. So, pay this off, yeah? Let's go How. much do you have in your How much money. do you have right now? Uh. nothing. You don't have any money? I get paid tomorrow. How much money will you have tomorrow? Uh already. like $400. That doesn't make sense. Are you paid. weekly? Uh no, I took a few days off last week. So, we don't even really know how much. money you make. Yeah, no, I calculated it's $400 at the.

very least. After taxes. Yeah, but just on a consistent monthly. basis. like my top up, so about 600. Then pay this off, 500 bucks. Pay it off. Pay it off. Them both, yes? Yes. Call them, pay it off. There's no reason. not to. It'll be It'll take way too long. for these collections to fall off your. account. Way too long. And you need to. turn your life around now. Oh yeah, they're young, yeah. Yeah, they're very young, so there's no.

point of just delaying. If they had like a year left, we could. have that conversation cuz math always. wins. But that's not where we are today. Once you're done with that, dude, other. than your mom's debt and your car, you're done. That's pretty sweet. That's like actual progress. And I wish. I could have paid these off for you. right now. So, you would rather have. this stupid high interest rate. $21,927. car loan than paying it off. Uh well.

I made. Or than selling it. I'm sorry. I made my bed of spikes, might as well. get comfortable. And so, it's like. that? There I am looking at my car. just staring at it and thinking. Oh yeah, I know why I got you, to make. me some money. At this point, you're probably. underwater cuz the car market's fallen. much. went. from what worth 14k to. have followed my advice the initial time. then. You should have followed my advice. the second time. Well, guess what? You didn't and now.

it's. monthly payment. This is insane. You're killing yourself. Basically 600 bucks and then you have. your car insurance you're not paying for. and then you have gas and you have. maintenance. You bring home $3,000 a. month before side hustles. I factored in. Sometimes if you're not taking all the. time in the world off. Yeah, that's because I went to go get. all the maintenance done and all that. errands to. care. No more excuses. Right, no excuses. Well, essentially now what's your What's. the interest rate on this thing? I've. got 73 months. My gosh.

Only 23.5%. I I wanted this to be a happy episode so. bad. I didn't know what to expect cuz I did. not look. The The same budget as last. time still applies. The same category. So, go ahead and look back to that. Essentially, probably like 300 bucks on. groceries. Don't go out to eat. Don't. spend money on fun. Have free fun. No. more paying the airport. The airport. pays you. Copied and pasted. I'll leave I'll leave. my Look, this is this is part of the. corralling strategy. Just leaving my. card at home because I know I don't have.

the discipline to. not use it at the airport apparently. So, I just leave it at home. There's no. pack a lunch? There's nothing to buy at home. You pack a lunch like a good lad? Oh, no. I don't need a pack lunch. I just sometimes I get an extra coffee. or. Cuz remember they they do pay uh. they do pay me for lunch. So, No, I eat for free but sometimes I'm. just. Obviously it's fine. No, that's. a dietary issue.

Yeah. And then, you know, after that you're. bringing in as much side hustles as you. can. Uber, Uber Eats, Favor. Uber Eats and stuff around here. It's good. I've met people who do very well. Austin's a gold mine for like. It is. So, start raking in that crash. cash. $600 for rent. Everything uh. is essentially round. food and supplies. up to. like 400 well. You can do that like.

Let's say even just 700 including in. your car insurance as well and your. health insurance. Include that up. And then you're at a thousand out of the. budget. I play a game I'm. going to play a game where I factor in. um what I pay per day in insurance, car. payment. gas. And well I have a I'm going to put $100. every payday or every week towards. emergencies but that's mainly for car.

maintenance cuz preventive maintenance. is better than. doing something when your brakes down. you got to tow it. Hold on. Hold on. Okay. So after food, after insurance. after your rent. Oh wait, rent was 600. Sorry. Um never mind. Okay. Okay. Now let's do this. So 600 for. rent. Then we're going to do $300 for. groceries. I'm going to do an extra $100 for like. toilet paper and both. Okay. Okay. Hygiene. Yeah. Yeah. And then car cuz you're going to.

continue to well the minimum payment. well we'll just do minimum payment for. now. 567. I break it down by week. Okay. Okay. Yeah. What is your car insurance? I assume you do monthly. 348. Just round it up to 350. Wow, that's a lot. Health insurance $50. Assuming I'm enrolled this month. And that'll be actually just taken from. your paycheck. Yeah. So I'm not even going to include that in. the budget. And then cuz you're going to.

be working you're going to be driving a. lot I'm going to do 300 for gas. Might be a bit much but you're going to. be driving a A. A lot. Oh yeah. I like so full disclosure, I didn't do. gig work as much because I was driving. around without insurance and my tags. were expired. But, that's all taken care of. And my lights were out. all taken care of. Exactly. Beautiful. After that, those are the. categories you follow. You have an extra.

$1,000 left before side hustles. Just that $1,000, what do you do? Month. one, 500, put it towards saving for an. emergency. Just put it in an account. that you cannot touch, that you will. forget about, that doesn't exist. Some. high-yield savings. I know, that's hard, but try. I think it'd be easier if I just stuffed. it under a mattress. I mean, I know Look, I know it's not. going to accrue interest, but I would. Hey, if that makes you not use it, then. that's better than.

that. than losing interest. Just lock it home, lock it in a box. for like robbers and stuff. Lock that box in another box and bury. it. Okay. Then, the extra 500 pays off the. collections. Boom, that's the end of. next month. Congratulations, you're no. longer in collections. Okay. Woohoo. Yeah. The month after that, and this is not. even taking into account side hustles. Another 500, that goes to saving for. emergency. Then, 500 extra goes to the. car. So, all of a sudden you've done a. $1,000 car payment. Okay, I'm going to play this back to.

Yeah. Yeah. And I'm happy to answer any. questions as well. But, essentially, you're putting a thousand to the car. payment every month, and five uh total. total. So, minimum payment. You're Yeah. Just just under double. So, really, this car should be paid off in. like. with interest and everything. Probably like a year and three quarters. Yeah, as long. I can stomach that, but that's a lot of. sacrifice until then. That being said, all of a sudden you're bringing an extra.

thousand dollars, set 20% aside for. taxes, an extra thousand dollars, 20%. aside for taxes. This car becomes paid. off by the end of the year. This year? If yes, if. Yeah, imagine bringing an extra $1,000. and then another extra $1,000. Boom, $2,000, set 20% aside, and throw that. all towards the car. You only have like $23,000 left on the. car, something like that. Or just over. 20. And then. if you're putting $3,000 towards it a. month, dude, that thing's paid off. pretty freaking quick.

You can do it. You can. It just depends. if you actually do this. If you want to. take care of the mental health. In the. budget, we'll throw an extra couple. hundred towards mental health. So, um. then throw 300 towards savings and 500. to the car. Yeah, well, I have nothing to do at home. now seeing as everything's either pawned. or in a storage. And I don't necessarily like that, but. borrowing one of my PlayStations, so. it's like I've confined myself to.

not do anything like I have no incentive. except sleep now. Therapist. Oh. Therapist. Trust me, deal with those issues. Therapist. Here's the sad thing. This is what I'm. going to say. I'm going to wrap this up. because I mean, we've done we've been. down this path before. But here's the. thing. I've laid out a budget. I can send it to. you. You can watch this video back to. stay encouraged. We've been down this path twice. You're.

the second person that's been on it. third time. I am sad to say, just cuz I'm a realist. and very forward, I have no confidence. in this. But I want to believe. I want. to believe, and I am hoping I am hoping. with everything I have that you do. actually follow this. Pay off this car. in 6 months by working your ass off, driving all those extra side hustles, and stuff like that. That's what I'm hoping. I don't have. confidence. I want you to prove me wrong. Prove. everyone in the audience wrong. Go.

crazy. And also, thank you for putting. your financial situation on display cuz. there's going to be people who relate to. you and hopefully they are getting help. out there. So, I know it tends to be a. little more negative-focused content. right here, but thank you for being here. and demonstrating. I will give you the final word. Oh, we're wrapping this up already? Uh. We've been down this path before. Um. Well, actually before before I give you. the final word, let's let's talk about. the income situation. Uh-huh. What do you want to do for a living?

Are you happy with your job? I'd be happy with working with dying as. a part-time worker at this point. Okay. Ha ha ha, joke was made. What. like unironically. What would you want to do? Uh. Like I've never I know that it's. we're a bunch of dreamers down here who. want to make it, but I do would like to. just. just work when I feel like, and I know. I'm not setting myself up to do that, but. What about a field, though?

I've never had any interest in anything, really. I just. What field would you be the happiest in? Uh. I'm not going to lie, entertainment, but. it's uh. the numbers aren't in our favor. Well, not in my favor, I guess. Well, what part of entertainment? of that. Uh. There's a lot of things you can do in. the entertainment field, entertainment. space. You could work for a studio. around here. You could be a studio. manager. You could You know what I mean? There's a lot of things you could do.

You could be a copywriter. As a recent guest is, but for. Content content creation, but it's just. something that. Yeah. But um. It's hard to break into. Um. So, it's like in the meantime, I'm just. going to What I ideally like to do. is save up enough to I'm. And I know this is. um uh ludicrous to say, but save up. enough to where I have all my expenses. paid for a year. and I can just focus on doing exactly.

that. And if it goes somewhere, it goes. somewhere. If not, well, I attempted it. Well, my fear is I'm Well, I don't You don't have to do the all or. nothing, dude. You can get to the point. where you're working on crazy amount of. side hustles till the car and. collections are paid off and then you. have a 6-month funded emergency fund. But then you can just work your day job. $3,000 a month and then. all the time you're putting towards your. side hustle, you can put towards. creating content and see if that takes. off. And put in the work, put in the. time, go crazy. You have to go crazy. This is hard. This takes time.

Yeah, it's not just what you're seeing. here. There's a lot of. a lot. editing and scripting. Emails. Yeah, emails. So, it's uh. But yeah, I'm not I'm not I'm not going. to hold my breath. My biggest fear is right now you have $0. essentially to your name for retirement. So, you're going to be dying on the. Walmart floor in order to pay rent in. your 80s. That's why if I don't want you to have. to do that. I don't want you to be. forced to do that.

I'll be happy if I make it to 80. But there is If you actually do this, pay off the two collections and the car. within 6 months by going crazy working a. bunch of side hustles, that only works. if the side hustles are else it's going. to be like a year and a half. And then you save up a 6-month emergency. fund. I'm going to save up You just for. you save up $10,000 just as a starter. emergency fund. Then you invest. Then you start investing. But I feel. we're not even going to get to that. point. Yeah, if I have a 20K car, I might as. well.

use it to make some money. That was the. point. And then I got lazy and didn't. and just forgot to insure it. And then. they expired the tags. So, but hey, I had. I had a thousand, but I I used it as. capital. Should I have probably kept that in. there? What was What would your call be? Like if I had a thousand dollars and I. could have insured my car. or should I just say I probably should. have just saved it, huh? Insure, you have to have insurance.

legally. Okay, so I made the right call there. No, sure. Sorry, I didn't have a thousand dollars. saved. I just spent it all. No, no, no, no. That I'm did did I don't. remember ever bringing up being upset by. that. I'm upset by you're still. continuing all the BS. You haven't taken. care of any of the underlying issues. with mental health and you only bringing. in like 800 bucks because you're taking. time off work even though you can't even. come close to affording it. There's a. lot of reasons to be upset and you. didn't follow the plan that we talked. about. I am not upset by paying. something you legally have to. Oh. Either way, again, I hope you do this. I.

wish I had more hope. Please prove me. wrong. Please prove me wrong. Final word. Uh. Don't be like me. I guess. Um. I'm hopeful, though. Uh. I don't really uh. I don't want to say that I got this. because I then I will proceed to not get.

this. So, uh. as in jinx myself. So, I'm just going to. shut up. Be confident. Be confident and actually. take action. For Joe, obviously, I'm incredibly. disappointed. I love the dude. I want. him to do so well, but he didn't stick. to the plan. I hope he sticks to this. plan and I hope in 6 months, if we have. another conversation, uh and it would have to be by then, hopefully he's been working on the side. hustles and follows this budget, he. takes care of his mental health, and. these debts are paid off. But right now.

Hammer financial score, one out of 10 and I'm only giving him a. one because he did pay off a debt, but. other than that, things have not changed. and it is staying bad, which means it's. likely going to stay bad in the future, but I I really hope he proves us wrong. Make sure to check out all the fun. things in the description like my. Instagram and Twitter and don't forget. to subscribe. Thanks.