$430,000 Of Trailer Trash Debt | Financial Audit
you taken out of your far yeah I needed. a little extra you know if we went back. to time and we looked there okay maybe. things were Tighter and maybe you. couldn't have fully made your payments. but I don't know based on your spending. I don't believe that for a single second. I like also treating myself I'm me got. hopes I also want to. die hi my name is Sierra I'm 27 I'm. based out of Austin Texas and this is. financial. audit welcome on the show so what do you. do for a living here in Austin I'm An.
accounts payable clerk okay and what do. we make uh like 20 an hour so is that. like what 40 40 a year how do you feel. living on Austin and that not great yeah. Austin's kind of a higher cost of living. place to live you get 40 hours a week. yeah yeah sometimes I try to do overtime. though you get paid time off uh not yet. I'm temp no but really okay how long. have you been in this job um about two. months next month is my final month yeah. yeah next month's your final month yeah.
and then what and then I'm permanent i'. yeah I've already had that conversation. oh okay it's official yeah permanent at. what wage uh still. 20 okay this what you want to be doing. um I do like it I like it a lot actually. 20 is not absolutely you know horrific. or anything you know definitely depends. on the household situation depends on. debt depends on the place you're living. in um okay now what do you think came in. through payroll in this last month o uh. not not much because I was that's not a.
number okay um so I'm going to say 3,000. maybe maybe a little less 2, 2,600 I'm. going to say. 2,235 oh does that sound normal yeah. that that kind of sounds about normal. now there is an a deposit of 6002 in. where'd that come from. um I think it was from my. 401k yeah sorry what from your 401k. you're taking out your 401k yeah I I.
need I needed a little. extra that is the last thing I would be. smiling about in this entire world my. dude yeah you're taking from your 401k. it's not my first in the best decade of. your it's not the first time I'm sorry. Caleb don't be sorry to me this isn't. about me I don't who gives a about me. this is your literal. retirement how much have you withdrawn. from your. 401k total uh so So within the past year.
maybe like. 3K half of it was to pay for my car. but you have a 10% withdraw and over. this last year I mean when you started. contributing in general other than these. last couple weeks the market has just. been up up up up up meaning you are. paying capital gains sometimes. short-term capital gains on some of. these yeah so you're just getting yeah I. know I Fu myself a little and this is. the best thing decade of your life for.
compound growth setting yourself up for. retirement me how much did you withdraw. 5,000 no uh 3,000 okay so I'm going to. open up Mumu it's where I invest my. money it's The Brokerage I use. personally I'm going to put that $3,000. in the S&P. 500 for the. next me. 43. years no there.
32 years to. 60 n and a half uh 59 and A2 when you. can to 59 a half when you can withdraw. that money penalty-free. okay that $3,000 was worth $72,600. and what' you take it up for uh so it. was to put a down payment on my car. because I didn't get the insurance money. from the hail storm insurance money from. The Hil so okay so Hil it hail my first.
car and it made it undrivable uh it. didn't make it undrivable there was what. am I getting into right. now okay so what what did the hail do it. damaged every single panel of my uh car. of my Nissan Ultima um and it also. mistake number one Nissan Ultima yeah I. I hated it okay uh it had a sunroof too. so it blew it in and uh okay so you. would have had to replace glass yeah. yeah but other than that it was is. denting things but nothing internal got.
messed up it was already kind of a fued. up car how like it was it was running. rough like really rough how it I don't. know it just sounded. rough I'm sorry no don't apologize to me. okay this isn't about me. okay but you didn't take it to a. mechanic and have a mechanic say that. this car is. rough no I'm going to okay if it helps I. also want to die just jokes I promise I.
promise so you got you put a down. payment on a new car yeah I've seen this. car alone this car loone is not good no. so you've and now you're taking oh so. that AC. inside bringing in was from your 401k. are you still taking more what's your. 401k at now like. 300. yeah so literally you've drained it down. to like one more w draw possible and.
then that's like it yeah then what and. then what was your plan after that well. I was going to start contributing uh. once I get like the permanent position. because they offer 401K yeah but what. changes you're making the same amount of. hours same amount of pay uh so what the. was going to be. different I guess I was going to try to. also get a second job why aren't you. getting a second job today um I actually. have an interview tomorrow for what for. a barista position at Starbucks great.
absolutely wonderful fantastic okay so. you think it's an income problem it is I. think I think it's an income problem. because when I did get my car I was. making a little bit more why are you. making less today because I left due to. health. reasons what like I was um I have an. autoimmune disorder and yeah and it's. really really bad and it started really. affecting my health and it was a. physically draining job and you're about. to be able to work two jobs now I can I.
can do one of my jobs I just pretty much. sit at a desk all day the other job. would give me what was the other job my. my previous job was I was a production. associate at um down the road or in. Tesla Tesla oh okay yeah yeah okay so. you just couldn't be on your feet. couldn't be doing all the manual labor. yeah it was it was a lot over time CU I. didn't I developed my autoimmune while I. was working what are the symptoms like I. get really fatigued um like standing. long hours has this been clinically.
diagnosed yes yeah okay unlike your. mechanic thing that you didn't do I can. actually listen to this one yeah and um. I was underbody and the cars were above. us so a lot of the times I had to keep. my arms up majority of the time and I. would get really like nauseous I'd get. fatigued and I'd feel okay so you went. and found a job that worked for you yeah. now Starbucks is going to be very much. on the feet not as manual as obviously. car manufacturing sure I used to work at. Starbucks before yeah but you've. developed the auto imune disease yeah.
yeah um so you didn't have that or at. least as extremely when you initially. worked at Starbucks so what's different. now um well I would be only working like. a a few hours a a week like maybe like. four days a week okay so you think. incomes your biggest problem yeah and Al. no well it's my spending it's my. spending oh how much did you spend in. this most recent month o I'm going to. guess probably. [Music]. 2,000 is that is that right I'm I $3,800.
$3,000 how the how do you even not know. this how do people not know this this. this will forever blow my mind forever. blow my. mind because you have decided in your. life right now that income is your. problem you've decided that in order to. decide that if I were go if I were to go. decide that income is my problem because. I can't keep up with expenses I would. know what my expenses are.
yeah but you don't even know what went. out this last month I don't so how in. the world are you able to determine that. it is an income problem and not a. spending. problem um I guess I can't I didn't so. what is this going to solve this. Starbucks isn't going to catch up to. that it's not going to double your. income no but I I am I've realized that. I have a problem and there's good going. to be a solution like I'm going to go to. therapy because that's offered also. through my employ my current employer. okay so you've realized there's a. problem yeah yeah why am I not seeing.
anything addressed in these statements. then um. because I only recently the everyone. only decides they have a problem about. two hours before they come on the show. that wasn't true it was like maybe like. two weeks ago okay nuh not in your. statements so so what's going to change. from this conversation um I'm going to. get the resources and I have more drive. and the resources what resources the. ones that we' give I guess well yeah we. give you the budgeting program and the. investing program which are bundled at a.
lower price right now and I definitely. support that but that's Educational. Tools those are tools it's your actions. still that are required it's not a magic. pill I'm not a magic pill this. conversation is not a magic pill you. still have to go in you got to put in. the action got to stick to the. discipline got to build your budget got. to manage your budget got to look at. your budget on a monthly basis got to. see what you're adapting in the next. month in order to continue to improve it. and stick to. it a class is not a magic pill no just. like getting education you can go and. sit in a class if you don't participate.
if you don't take the quizzes if you. don't actually put in the actions after. it it's nothing I understand that yeah. and I'm not I'm not saying it's a magic. pill or like a Band-Aid over a bullet. wound but I'm pretty. much it also just gives me like an. insight and I do need the tough love. approach for sure yeah no I get that so. do I that's that's what works for me I I. don't know why people out there get. upset by it like don't come on the. show I mean thank you for being here. cuzz you know what works for you but. also don't come on the if it doesn't.
work for you instead of trying to be. offended on other people's behalf like a. weird mother people are weird but if you. do want to come on the show cam.com. apply it's a good place check it out. highly recommend it all right where do. you think you are on your financial. scale zero being the worst 10 being the. best um I'm going to say zero I did take. the the the financial score and I got. zero um uh that makes sense if you want. that scores in the description as well. uh but I do have the the the house so.
the I have a house you own a home kind. of it's rent to own but I'm not really. living. there what wait what the okay we were. about to go into your finances what the. are you talking about okay first so cuz. now what the how do you not live in a. house that you own so I had an a um a. partner back where I moved from so. Corpus uh okay and uh we were like. engaged and we were going to like.
engaged okay we were engaged wow um yeah. and uh I didn't want to stay in Corpus. anymore so it's one of the reasons why I. moved to Austin and we broke up. amicably okay um why did you guys break. up going from engaged to break up that's. pretty big it is I wanted I wanted to do. something more and in Corpus you really. oh to move yeah I wanted to move so you. had to break up to move yeah he wasn't. willing to leave Corpus no cuz he has a. job that he likes there but. I didn't I didn't want to stay there.
anymore the job overcame a marriage yeah. wow okay and also we weren't in the best. financial situation either so yeah still. yeah um and I'm just kind of tired of. living like that so that's why I want to. fix this so how does this mean you own a. so did you guys buy a home together so. yes sorry we started renting like a one. of those trailer homes which isn't the. best investment either it in yeah it was.
rent it was like you were renting a. trailer park yes a a trailer home yeah. and in a trailer park yeah so it would. not even on like our own property or. anything and the the land so you rent. the unit and then you also rented the. land or was it all baked into. one kind of there was two payments that. we had to make and one was significantly. smaller which was a lot rent so yeah. you're renting but you didn't own it no. but we're buying the ACT technically we. are buying. the the house itself does that make.
sense house you mean the trailer yeah. the trailer. itself no it doesn't you guys are. instead of renting you're now borrowing. you're going to take out a loan to get. it yes we're renting to own I don't know. the oh a rent to own yeah that's okay. yeah I tried to get out of it I did I. tried to get my name out of it but uh. but so it's pretty crazy he's not. willing. to like whatever version of refinancing. there would be to get you off of it and. him permanently on it only I don't think.
he has the greatest credit either so I. don't think the the rent to own. yeah what's the okay what's the terms of. this like 30 Years cuz I don't I don't. have the debt for this 30 years so it's. like a mortgage it is so yeah I'm trying. to I'm trying to get my name taken off. of it but what's the rent the rent is. like. 1,200 no it's not it is is this even.
decent it was yeah no it is was is the. the tra the that's not cheap yeah that's. not cheap for 30 years baked in and it's. in Corpus interest I do or is that baked. in I think it's baked in I'm not exactly. sure though cuz I don't have the. statements I asked for it yeah why. didn't you get statements I asked for it. but um he's not able to get them to me. why he's working like a double today so. he's not going you only tried today.
we've been in conversation for a while. to get I didn't know until like that you. were renting to own I yeah I thought he. okay so we tried to take my name off. this the is happening dude hold on. wait wait wait wait wait okay I'm. waiting. so basically I tried getting him to okay. I don't want to give too much. information about him because he's not. in my life really that sure so I tried. asking him if he could get me the. documents over the weekend yeah um um. because I only found out about this like.
recently because we originally were. supposed to get my name taken off of the. the contract sure but when I asked the. original land lady had passed away okay. and I thought he was going to go ahead. and get with the new land lady so we can. start this whole process of getting my. name taken off so why hasn't he I don't. know tell them to grow a pair man up a. little put in a little bit of effort. what I I will let him know well how is.
your guys a relationship we're friends. we're friends okay um how long have you. been pushing to get off eight months oh. okay he needs to become a big boy yeah. is it rent to own through the owner or. is it rent to own through a third party. it's through the through the trailer. park so I guess the owner wow yeah this. is wild yeah can are you guys able to. like sell your rent to own to someone. else I don't think he wants to because.
that's his property he wants to stay. there not even he doesn't even own the. land he. owns four cheap walls yeah what was the. price of this. um 30 something 30,000. yeah that's why I want to get off I yeah. I don't want to be on it anymore um just. because I I do I even need to tell you I. don't you don't you can just to say it. because I know it's already a f up.
situation you guys are going to spend if. again I don't have it here I do not have. the terms here but according to. everything you've told me it's going to. cost you. $432,000 that's crazy according to. everything you told me unless the rental. goes down does the rent go down over the. course I do believe so oh okay well that. changes it cuz right now I mean you're. paying half the value of it in rent a. year well I'm not paying for it like. none of my money goes towards house but. what happens if he misses the payment.
you're on it aren't you yes okay that'll. you yeah it will you you know for a. factor to 30 years I don't okay well you. don't know anything I don't I was trying. to get the lease and it's been over five. years since I've been on this because I. mean that is completely different yeah. it is completely different in terms. of okay pay monthly rent additional. amount that goes building a down payment.
for the home. potentially well they just accumulate. Equity over time monthly rent to own. agreement is usually higher than the. standard rent due to the additional. payment you have maintenance. responsibilities option fee at the start. of the agreement the tenant usually pays. an upfront fee known as the option fee. which is between 1 to 7% of the purchase. price and it was only. $30,000 it's a trailer mil you I know. that's why I was so surprised when I. heard $1,200 a month. yeah it's a three-bedroom two bath wow.
living in luxury there's nothing wrong. with living in that at all no but doing. this to do so is like the worst thing we. could ever do according to everything. you've told. me that's wild okay the the typical is 1. to five years I don't know I I honestly. couldn't tell you why' you give me 30. because that would have been insane. because I think it was like a ridiculous. can I get him on the phone I can try but. I think he's at work right now you want.
to just send him a text real quick yeah. cuz even if it's 5 years it's $72,000. for a $30,000 thing so I just want more. information on this because I know. you're not paying it right now right is. that what you said that's correct that's. correct okay but if he doesn't for. whatever reason that falls on me yeah. and I don't want that to fall on me. death even yeah you know something even. extreme like that I just have to turn on. my phone okay then you can text them um. wow it's pretty crazy uh and that's kind. of one of the reasons I I wanted to make.
sure and I completely so what happens. when the term is done he just wants to. keep it forever something that's going. down in value on land he doesn't even. own how does that make sense and that. means you just can't like you're on the. deed of this yeah I want to give you. free money right now I partnered with. different resources that will literally. give you hundreds of dollars the moment. you sign up for them check out my. investing app of choice Mumu where they. give you up to 15 free stocks and 88.1%. interest on your uninvested cash when. you sign up with my link do you want a.
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linked in the resources section of the. description below so don't pass up the. free money cuz I'll punch you if he. sells it okay what's the agreement then. if he's paying for all the payment right. now do you get anything if he sells it I. don't think. so but even if we wanted to move it off. of that that in the trailer park I guess. it would be like 10,000 to 20,000 to. move I think that's the. average amount to move a trailer home. we've looked into it when we were like.
engaged but okay yeah let's get into. these statements and we'll see if we can. get in touch with him so I can learn. more about that CU that's Insanity can I. go ahead and text him yes okay you have. a Capital One Walmart card I do balance. on here. $737 41 not the most insane credit card. balance but I know higher cost of the. living State and obviously you spend. double you make What minimum three. payment 200 $63 what that doesn't make.
sense interest charge it's cuz you're. over the limit you're over the limit by. two $200 how are you over the limits. right now dude what is happening why. aren you at least paying your minimums. if you pay your minimums you're not. going to go over the credit card limit. you'll make a little bit of progress. even if not that much progress but. you'll make a little bit of progress so. what are we. doing I lost my job what so I lost my. job when like it was it was a temporary. job it was like a a temp.
position so it was like 3 months ago. okay I was out of work for a month and I. was I was applying okay I was applying. like it was my full-time job good I like. that now a few months have passed why. have we not at least caught up on the. minimum because they got charged off. because I wasn't able to make payments. for a while I was only making the bare. minimum to like sustain life pretty. much so are you saying this has this. been given to collections it has this.
has um if if not what's your credit. score now it's not great that's not a. number it's like low 600s High 500s oh. me bad it's bad at 27 yeah I I kind of f. myself tremendously I think we have some. some of the credit karma in here mhm. well this is insane so you you know for. sure this has been given to collection. hold off the collections. um I know one of them has I think it's.
the Quicksilver I don't think it's that. one so it's not this one so it's not. even this one no I I have a couple. credit cards are you waiting for this to. go to collections or what's your plan. here what what what are we even. attempting you've made you've made money. not a huge amount of money but you've. made money over these past couple months. yeah and we haven't even attempted to. catch up on it so why well uh I was I've. been I've been in a tough a couple tough. situations is that true what percentage. of your spending which by the way that. spending was double what you come in. bring actually fine how how about this.
what percentage of your income income. did you spend going out to eat income. income income what percentage of your. income can you tell me are you able to. give me a little just a little a little. hint. 35% you say. 35% which that's insane that that even. came out of your. mouth but you're close 27 27 how was 35. or 27 anywhere acceptable when you have.
payments you could have made three times. this Min monthly payment on your going. out to eat going out to eat three times. your catchup minimum monthly payment and. then the normal minimum monthly payment. is probably like 40 bucks yeah so what. the this was a choice this is a personal. choice it was this isn't that's not a. that's not an income thing that's not an. income thing that's not an income thing. you spent a more than a quarter of your. take-home pay going out to eat an income. thing and income thing I have people.
that just freak out and they like w. Caleb incomes are just poo poo poo and. people can't just even survive and for. some people that is true and for those. people I give them different kind of. advice yeah for you you spent 25% on. going out to eat it's completely. different yes so what the fu are you. doing there's no responsibility no. there's there it's a discipline problem. um for sure and then on top of that then.
why has that not been addressed if you. can recognize it that I will never. understand that you can come here and. you can say I recognize it and that's. why I'm here for help that does not work. for me it doesn't because you have been. doing this even at the time of knowing. it's wrong so why has there been no. change why have you not put any actions. into it and waited for this exact moment. because if I don't know a little bit of. insights on how you're living your life. M how are we going to create a.
conversation create a plan that is. actually going to work for you and get. you to a good position so why have you. done nothing even though you recognize. that it is bad so it kind of ties into. the reasons why I got the credit. cards um so when I first started moving. or when I moved up here I was I was. dating around a little bit and I was. actually making a decent decent income. and I wasn't like worried about it okay. um but then I met my ex. we just like kind of broke up new ex.
after the ex fiance yeah yeah a new ex. um you just broke up you said we broke. up two months ago okay I'm sorry to hear. that it's for the better honestly um. it's what every ex. says uh so so basically he. made more than I did he made two times. as much as I did maybe three sure um and. he constantly like told me about how his. his ex was like always asking him for. Lou T bags and everything else and I was.
trying not to be like a gold digger but. I wasn't making enough how would you be. a gold. digger because I didn't want to like. constantly like rely on were you asking. for Louis Vuitton bags no no so how. would you be a gold digger I wanted to. be able to contribute a little bit more. sure okay I get that cuz I like I like. the idea of 50/50 but our 5050 is that. what you said you say that's why you. opened your credit cards though yeah. because I was like buying Christmas. presents and birthday. but you weren't contributing you were.
just putting if you guys had a future. which obviously now we know you didn't. no uh if you did though you were just. putting both of you deeper in a. hole it was more myself he didn't really. yes if you guys were together though if. you were going into debt if that. partnership was to last yeah you. wouldn't have been contributing you were. putting the future yourselves in a worse. position yeah uh and I realize that now. because even looking while I was getting. all my statements and stuff I realized. majority of this was was like spending.
on like food to go out to eat together. because I didn't always want to make him. pay or I was getting like little things. for us and and like paying for things. like I think I put ACL tickets so you. thought that if you covered things. instead of him that you were just like a. gold digger sugar baby no why like he's. not but you weren't begging for things. or asking for things you're just no but. I also didn't getting a meal I just. didn't want him to like feel like he.
kept I didn't want to burden him did he. suggest in any way whatsoever that he. thought you were taking advantage of his. financial position um no not not really. okay I don't think so I wasn't trying to. no I know but then I get the concern is. this maybe an overreaction especially if. you have to go into de for it listen. you're not a credit card person no I. need to be as clear as possible it. doesn't matter that you're not your. credit score is 5 44 oh it's horrendous.
it's disgusting it's. vomit use the Fizz card or a charge card. like it if you're going to use cards. okay that's the kind of cards you can. use you cannot use a traditional credit. card you can't have access to money you. blow it up then you don't spend you no. you blow it up then you don't even put. payments on it then interest AC Cru and. then you allow it to go $200 over the. credit limit the credit limit on here. was 550 bucks you're 737 you didn't make. a payment who would a thought. and then $19.91 of Interest minimum the.
payment is probably 40 bucks but right. now it's at 263 because you got to catch. up okay now you mentioned why you got. into the credit card so you didn't. really answer my question and I'll be a. little more specific why in the world. why in the entire world is you going out. to eat three times more important than. this minimum monthy payment. mathematically why there is no reason. that's nope nope nope there will be an.
answer okay. um I. I there is still something in there. whether or not you fully recognize it or. not okay is that what it is so it's the. want it's the want of nice things but. that's going out to eat though it's not. even nice things yeah but I like. restaurants I do I do like food I'm a. kind of a foodie MH probably not. probably shouldn't be for a while but. well obviously you you can't afford to. be a foodie no but that's kind of how my. ex and I like bonded we would go to.
restaurants and then I would pay one one. date and then he would go on a we would. go on another date and then he would pay. no offense you guys broke up I don't. think you can can sustain that oh no. that's that's not exactly what I want to. do anymore or it's time to actually. start going on those other dates and. only have them pay for it because that. might be the only way you're able to. afford a restaurant people get triggered. when I suggest that I'm more mean that. as a joke but I don't I don't like doing. that just cuz I don't like other people. paying for food what do you mean oh like.
dates I just don't like people I don't. like giving off that impression oh I. it's just a personal thing joke yeah no. I get you I get. you. okay yeah I mean I always pay on the. first. date I so just I think traditionally. dudes usually pay on the first date I I. they don't have to no they don't so I. mean okay. $737 it's ridiculous it is. it's not never mind I was gonna say it's.
not the worst. one I'm sorry. [Music]. 32.242262 yeah it was mostly jeds did. you want to go to college um I do I've.
been thinking about it but I mean with. the financial situation that I'm in. right now I don't think it's probably. the smartest decision yeah maybe it. depends on how you go about it because. again mathematically we can work out you. know for some of these 30% interest. rates you know maybe not but if you. could you know. 2x your. income via some Community College and. maybe a local state. we might be able to mathematically in a.
way suggest that it is a better return. on your investment sure know if we go. from 20 to 40 yeah I don't know what did. you want to study what did you want to. do well I do like I was undecided for a. really long time I was thinking yeah. yeah I was thinking Tech and then I was. just like probably oversaturated at this. point in time um job Market's a little. harder but um but I do like what I'm. doing now which is like accounts payable. okay so in the world of accounting yeah.
how about this uh I'll gift you an. accounting certification that you can go. through for court scws okay go through. that dip your toes in the water a little. more that way and then maybe you can. look at the full degree if that's. something you like yeah yeah I think so. okay that could be a way to boost our. income all right let's look at you know. if you see Credit One you know if you. see Credit One you're already kind of at. the bottom of the barrel finances wise. Credit One is like the most disgusting. credit card you can get borderline yeah. I don't I don't like I wish I never why'.
you get this. because I think it was actually the the. second one I got after the Walmart what. this is your second credit card have you. even find this in the mail probably yeah. yeah I got cut up the cards that come in. the mail people let me tell you why did. you accept it when it showed up I mean. yeah you got but I think you got you. yourself though you signed up for it you. did this and then you're also the one. who didn't put payment towards it you.
the one we already know how much you. spent going out to eat $47 of fees in. $17 late fee that was the 40. bucks so again and then an annual. fee you didn't get you yourself I. understand the going on um getting off. work thing first of all did you apply. for unemployment with that have counted. and and I got like one month of it okay. you were only off of work for a month. yeah so there's no reason then we should.
have missed payments yeah um with your. spending that's why yeah you know if we. went back in time and we looked there. okay maybe things were tight Tighter and. maybe you couldn't have fully made your. payments maybe that's the case but I. don't know based on your spending I. don't believe that for a single second. you're someone that just around swipes. their. card yeah I I do I do I like also. treating myself I didn't. I shouldn't have you don't get sweet.
treats right now you don't I know I'm. sorry it's just like literally. mathematically you can you can if you. want and then you just essentially. prevent you for the rest of your life. getting them yeah cuz you just continue. down the cycle get worse and worse maybe. go through a bankruptcy get into some. more. debt and continue going this through the. cycle never get a car that you want. never get a home that you want never be. able to to get the vacations you want. the retirement you want the sweet treats.
you want like you can do that by. continuing to around right now yeah or. you can make a temporary sacrifice and. actually better your life for the first. time in your life and that's what I want. that's that's what you want but that's. not anything what you're doing there's. no behavior in here to indicate that. whatsoever no want is a want is a want I. want to be skinny but if I don't go on a. diet if I don't work out I'm not going. to get skinny sure I want. it my behavior has to align with that. goal without any action is. [Music]. um I have started some action though go.
on so actually it wasn't really by it. was by choice okay so I got like a fraud. charge on my on my my card and I got. locked out and like for three weeks I. wasn't even able to use my debit card so. okay again that was forced that's not. you doing anything but it it like also. helped make me realize that like there. is an issue okay yeah so. so I guess you only just have to wait on.
others to do it for you no don't say. that I mean that's what that is though I. know but I don't want it I don't want it. to be like that it is like that right. now it doesn't have to be forever no but. I'm going to call it as I see it and. that's what it is right now that's fair. what's the on this $500 and you're at oh. that was the previous balance you're at. $845 pass due. 2002 minimum is usually 82 it looks like.
okay think uh but your actual minimum is. 200 actually looks like your normal. minimum is about 40 but of course what. you owe right now is 284 cuz. you hav't been responsible no I listen. you lost a job and that sucks and I. sympathize with that and things emerg. mercies can happen people don't have. emergency funds and they go into credit.
card that and that's when once you get. the job once you have the ability to do. so you cut back and everything in order. to pay it off you got unemployment for. the period that you're off work and I. know how much money you spend on. the thing is right now it's. two2 $40 minim monthly. payments I know you could have made $80. of payments yeah there's no excuse. you're just being an irresponsible child. financially yes I I I really Iz that now. okay can I take a sip of water yeah okay.
please. hydrate uh ally allies is usually either. savings or car and this is a car okay 20. you have a 2024 I do car. you mhm 20 bucks an hour not making. minimum monthly payments how do you even. get qualified for a loan they ran it. like six. times then Ally was the only one that. accepted you huh yes because I.
originally had a um a loan through them. for my Nissan how much did you trading. your Nissan for so I had to pay off. 7,000 of it still yes but what did you. get for it I got 11 but I had to put. seven towards my uh okay so you rolled. over $3,000 Equity yeah so you actually. did make money on the Nissan yeah you. should not have sold that that made no. sense if they were able to take it for. $1,000 and it was not in that position.
no a dealership taking it for 11,000. yeah all right well that's what I got. for the insurance from my insurance. because of all the damages the hail yeah. you said the hail didn't the insurance. didn't cover hail no they did you told. 11 sorry it was 11,000 that they gave me. from the. insurance and then that's what I used so. why didn't we get a $10,000 uh well okay. so $7,000 rolled over okay even still. $3,000 down on a $10,000 car wouldn't do. what's the balance out on this. okay only three more days to reserve.
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click the link below or go to cam.com. challengeto jooin for free this is an. insane car for you insane this makes no. sense this makes no sense this makes no. sense do we have the value on this car. this makes no. sense you owe. $3,289 for your income situation that's. insane why did you think you needed a. brand new car well my Nissan Ultima I I.
already had issues with I don't give a. about the Nissan wait wait wait wait. wait so the Nissan Ultima had issues to. begin with and it was a used car that I. got so you know what the issues were you. said it was making a noise yes but um I. didn't want to have any other. maintenance issues so you think new cars. don't get maintenance. issues I bought my Jeep new and I drove. my Jeep around that battery died like. once a year sucked but that's cheap it's. not the biggest uh bill in the world I.
know but things can always happen with. cards you can get more reliable cards. you can get that's reliable cars uh I'll. tell you what's reliable and unreliable. you making your payments as unreliable. across every debt and apparently on this. one as well because you owe double the. payment meaning I'm assuming oh and. there's a late charge $31 so we can't. even pay our car bill so yeah keep the. tough for a few more months get a repo. and then you're just even more okay cuz. then you don't even have your car and. then they sell it at an auction and then. you owe the difference between that and.
they probably don't even get something. good from the auction so then you owe. money on a car you don't even have and. then you need another motor. Transportation because we live in a car. infrastructure. world what the what are you trying to do. here what's your thoughts you bought. this car okay I didn't want maintenance. what was your plan um my plan was to. stick with the job for as long as I. could because that's when I was getting. like. 23 dollars an hour and $3 difference I. don't does not make this car affordable. it really does not it it did it it did.
at the time when I was making payments. and then I don't know man I missed one. payment on it and that was because it. was during the transition period of me. having an actual income now mind you the. amount your minimum the payment here of. 62469 MH which of course you owe $ 1, $280 in six months you did yes I swear. so you're upda on this okay now you were. behind on it for a month yeah now mind. you that minimum monthly payment is the.
amount of money you literally spent on. going out to. eat yeah I'm not I'm so that's kind of a. joke that you would ever miss this yes. you could grocery budget at 250 to 300. bucks a month with meal prepping a. couple times a week using the meal plan. we have and our budgeting program. tweaking to your needs sure totally yeah. I mean how much did you also spent on. groceries I bet you still spent money on. groceries didn't you I think so there.
was definitely some I I bought groceries. too barely it's. 7% okay yeah I okay so how's the car. how's the car this lovely car that. you're driving now is it just great it's. it's great but I did get Sid sidp hold. on Sid great so now the value is even. less leaving the domain hm KBB Kelly. Blue Book doesn't even accept your VIN I. don't know why. we don't. 100% know what it's.
worth in private. Market I mean we are seeing it listed. between like 25 to 36,000 but with your. Sideswipe and I don't know but the thing. is even if you could sell it for $20,000. and I don't know how you would. borrow because I would want you to. borrow $20,000 sell this for $20,000 use. $110,000 that to pay off the loan then. use an additional $10,000 to get a. $10,000 car yeah so what I would do is. say save you $11,000 in debt which is a. lot for you in your situation but I.
don't know how you would qualify for any. kind of loan do you know what the. interest rate on this is It's I think. 12% I'm going to kill myself. what when did you get this October of. last year okay October of last. year you saw 12% you saw the minimum. Mony payment you saw the overall thing. you're making 23 bucks an hour and. you're like I can afford. this yes that's what I was pretty much. thinking was because I was like oh that. paycheck you know paycheck's fine when.
did the symptoms start the symptoms if. you're autoimmune disorder oh um sorry. you had to specify uh what other systoms. do you have December okay I thought you. been up the car I don't know why I just. sorry gotcha that's fine and the term of. this loan um seven. years dude dude you've just you really. signed up to get just you're just you're.
everything right now there is not one. thing we've looked at that I can see a. bright side. to I'm sorry this sucks this sucks but. it's also like everything so far has. literally been your choice yes and I'm. seeing there's been nothing put upon you. here hail sure maintenance the last car. sure but you didn't take it to a. mechanic we don't know if anything was. wrong with it even at all it's like okay. that was handed to you but you didn't. need a $30,000 car. no you didn't need a 7year 12% interest.
rate I didn't need to choose the first. car I drove and you s didn't need to get. fast food over making your minimum Mony. payments you're living the life of a. child right now yes to be as honest as. possible oh my these really just keep. going I see the word past do on this one. as. well you owe it all you owe it all the. capital One Quicksilver uh. $1,135 two MH and that's what you owe.
they they want their money how long have. it been past due has any of the past. dues existed since before you got laid. off or since your uh temp ended I think. one of them did and I think it might. have see at that point that's where it. wasn't you losing your job it wasn't it. was your behavior the whole time if it. was already starting before then yes um. so so why' you blame them. why' you try to play victim on that. instead of Tak any responsibility it for.
the one card the one card didn't have I. I didn't not with your spending no not. with your. spending was this is this one of. collections there's a couple but what is. the status of this card today it's. closed it's charged off it's closed it's. closed but hasn't been sold to. collections yes you know for a fact I've. been getting people calling me for for. like from Capital One or Capital One. from City Bank that's not colle it might.
be internal collections that's not. collections agency we're going to have. to look at your credit cuz you just. don't know I mean it's a crew in. interest so it wouldn't have been sold. to collections at that point if it's a. crew interest then I guess it hasn't. been because it's I'm still able to. access the account oh oh guys she made a. $5. payment that the our our entire. financial situation has been. saved what what was even the intent. behind that never even that's Bor that's. comedic um I don't have a reasoning for.
it I'm sorry I tried to I think I was. just paying. like barely anything have you ever made. a budget in your life what what is all. that that you have written down there. you have things written yes there. there's sorry I didn't mean to hit the. table um there's like basically the. amounts that I have especially for the. three statements that I wasn't able to. give you or two statements I wasn't able. to give you I there's more there's two. more two more what what are they are. they debts yes their credit cards I. wasn't able to get the statements from. them because they were sending it.
through paper and I don't know why I. asked them to send them through email. and they were getting mad at me and I. was like dude what oh my there's more de. than we even know. about yeah they definitely did close. this. one 3.49% interest and of course yep 29. bucks being. charged afterpay wow we're after paying. okay we're just really collecting every. debt we can possibly get is there a.
payday loan somewhere at least you. avoided that is there like a debt shark. loan somewhere someone going to like. break a leg okay good those are like the. next deaths to take. out to tent Inc what is this for telent. ink could I see that you're definitely. right about your Hammer Financial. score how do you not even know what it's. for how are you taking out debt you. don't know what it's for after pay is. not a long sitting debt that's usually a.
quick turnaround it's it's a you're. going to yell at me it's a perfume that. to smell good yeah I don't want to be. stinky are you stinky without perfume no. no no but I want to smell extra good you. know smell like what smell like really. good stop I'm actually stress sweating. don't I don't smell don't smell me no I. don't smell good or bad okay well I. don't think maybe I should return it. though. did you wear it today I did it's it's. Jimmy chew do you smell my cologne no I.
don't then we're both failing oh okay um. no I know how much was this8 financing. colon financing $86 what are we doing. with our life when did you get this a. month ago your spending is out of. control your disciplines out of control. this is ridiculous again this really is. Tendencies of a child who just got. access to tens of thousands of dollars.
um yeah that's why I'm I'm going to take. advantage of a therapist and actually. talk to them about uh that's good they. could probably so I mean are you self. assessing some potential addiction. issues is that what you're trying to say. I I don't want to like say that I think. it's more just like I didn't I'm not. even going to put this debt in there. because it's going to mature in about a. week and I already made another payment. on it so it I think there's only like I. mean yes the therapist is great I. encourage that for everyone we'll put. that in your budget but uh again therapy.
is one of those things almost like this. conversation where people go to therapy. and they fail at therapy all the time. because they go there they sit there. they do it and they don't do any work. outside of therapy therapy is usually. something you have to put in a lot of. work outside of therapy lots of homework. in your actual personal life so if again. if you go there saying this is me making. the change you're not going to get. anywhere you're going to to put in the. work and discipline still yeah and. that's that's kind of where I want to.
cuz I have been living because of my. spending it's been taking it's been like. out of control where I've been living. like paycheck to paycheck and like. waiting for my next paycheck to hit my. account not though tired you're not. living paycheck to paycheck you're. spending all your money on but I did say. due to my spending okay okay let's still. let's not call let's not call that. paycheck to paycheck though cuz that. discounts people that are actually. living paycheck to paycheck you're not. I'm taking accountability and saying. that because of my spending that's the. situation I've put myself in good and.
that's why I want to take the steps and. do the work with therapists and working. on my budget to actually get this well. we'll talk about the work here in a. little bit okay apparently we got to. keep going through that sorry text tag. why are you going through tolls you. can't afford tolls you don't need to go. through tolls in Austin to get places. you really don't need to it's fast it's. faster it's faster but you don't need to. and you can't afford it you're right I. stopped taking the tolls I didn't take. the tolls here you didn't need to we're.
not on a toll. road nor nor near one okay well I. haven't been taking the tolls this past. week two weeks oh this past week. thankful okay great guys I've been. dieting for a week I'm on a successful. diet it's not how that works no no. no wait have you not been paying your. tolls you owe 1,425. to text tag yes oh my which I just I'm.
so. confused you don't make any payments you. you just don't make any payments if you. owe money you don't pay it you just. don't I'm so confused you just don't. make payments like I I don't know we're. going to have to do a total 180 here. yeah this isn't you making a change it's. a complete opposite because you. literally do not make payments on. anything. I I'm Blown. Away how do we owe.
$1,425 40 on Tex tag when's the last. time you paid your tolls when I worked. at Tesla when was that last year you. accumulated this much in a year the is. wrong I was driving from Round Rock like. on the tolls to get to. Tesla oh okay that out that outer ring. yeah and I would have to go like super. early in the morning Frontage roads. Frontage Road stop lights stop lights.
slight delay leave earlier be an adult. 1,425 are you on a payment plan or. anything not that you would pay them. anyway but um I am going to start a. payment plan how much I was probably. going to do like $100 a month if I can. okay or at least knowing you and just. how you live your life you're going to. rack up $100 a month in tolls anyway. autopay huh autopay yeah you'll do 100 a. month in tolls and then you're still. paying off your old tolls I'm not going.
to take tolls anymore mhm on God yeah. wait until you see like the amount of. time you can save in rush hour you're. going to be on that toll. road okay what are these other deaths. cuz we're about to go into collection so. what do we have so for my City bank card. I don't know the ENT or the the I guess. is it the APR sure um I don't know that. but balance. 1639 39 okay minimum monthly I don't. know that probably like 40 bucks okay.
it's traditional credit card and then. and your other debt and are you behind. on that it's charged off it's sold to. collections it's sold to colle you know. for a fact it it should be on there yes. okay next the next one is the Amazon. store card that's a great card I can't. believe you ruined it yeah um. 72576 and that's also charged off um and. then I see what's just why did you miss. $121 from Progressive cuz now that's in.
collections literally $121 could have. boosted your score significantly like. why allow yourself to have to play. ketchup your entire life okay so for $1. that I can explain that go I didn't know. that I thought okay so I originally had. Progressive right with my Nissan Ultima. oh sure I know back to the Ultima um and. $121 was my last payment and I thought. they bundled it together with the other. one that I just opened or like you know. does that make sense why you think that.
because the monthly payment for that. month was higher the other ones and I. was like oh they just added the last. you're saying you just forgot to pay. this it wasn't on autopay that one. wasn't on autopay but my Progressive is. now yeah I don't think you can live off. auto pay I don't think you're. disciplined enough for that not yet not. yet you still can be which just not yet. okay so that's why that collection pen. Foster what the was that that was my. school why do you owe money to them and.
why didn't you pay because I. um it was one of my school loans I guess. um but through the school yeah through. the. school um that I I didn't pay. because I honestly forgot about. it I know that was a reason but you just. you don't pay anything you really don't. the woman who pays no bills it could. sound good could mean you don't have any. bills you literally just don't pay the.
bills that you have should put that on. your hinge the woman who doesn't pay her. bills um uh let me see your credit C. because I don't see those other ones on. those two pages I had the credit c yeah. open up the app for me okay and start a. screen recording if you can well we'll. also just not include anything that. isn't relevant anyway I think I have to. download. it okay 540 it's crazy. let's see your Deb no those others those.
others haven't gone to. collections okay so not yet they're. closed they are closed they don't want. you to be able to spend more money of. course not but yeah just the two things. in collections the one that the ones. that we saw yeah I mean your credit. score it just it really sucks to. see well hold on Department of Education. Advantage you have student loans too. yeah that was the student loans that I.
took um when I lived in Florida guys. accidents happen and when your pet gets. really sick it can be a financial. nightmare from eating something they. shouldn't to serious illness like cancer. the vet bills can add up fast that's why. pet insurance is a GameChanger it means. you may never have to choose between. your savings or your furry friend's. Health that's why I've partnered with. money.com to bring you a list of the top. five pet and insurance companies I feel. so strongly about this I don't care.
which one you pick just promise me. you'll get covered check them out and. find the best fit for you in your pet. click the link below to secure your. pet's future and gain some serious peace. of mind don't wait until it's too late. get protected today so there's more Deb. yeah what else do you have that I don't. know about it's for sake how much more. debt do you have um that's it how much. in student loans um the balances are. increasing so that means you're not. paying for them meaning you're either.
not paying for them like you like to do. or you're on. like a deferment or income base a. deferment um I think it was like 6,000. total you think yeah I'd get on income. base for that interest is going to crew. at some point some kind of forgiveness. maybe down the road and after you make. those payments for like what is it like. 10 20 years but even still it depends on. the administration 8,000 no seven I want. to say is Max 7,000 mhm so I don't know.
but okay checking account $130 okay. that's. scary got an adobe subscription to. Microsoft subscription Starbucks they're. supposed to giving you money not you. going to them snooze that's expensive. you can't afford that 18 bucks pop shelf. Amazon 50 bucks there 40 bucks to Amazon. 14 to Starbucks $9 to to Barnes & Noble. we have a great Library here in Austin. maybe go to it more.
Starbucks Coffee secret level stand. Alamo restaurant oh is that secret level. stand 20 bucks uh 40 I don't know what. that is venin out. $622 Target never really know if that's. groceries or whatever cuz you can get. anything there raw stores Amazon Amazon. Amazon uh another subscription Sonic. Drive-In Amazon affirm so you're. affirming as well I didn't have a. statement for that I paid it off yeah.
never do it again gotta you just can't. you live your life on minimum monthly. payments you just you can't Amazon. Starbucks targe again we don't we don't. know Chick-fil-A Starbucks more Target. tiktock shop tiktock shop two Tik Tok. shops $23.51 each what are you getting. from Tik Tok shop you can't get anything. from Tik Tok shop what are you getting. it was stuff for my cat F your cat oh. whoa not really but like they don't. destroy too much other than uh furniture. I don't want him to scratch the carpet. so I bought him a toy I know but like. with cats you can usually typically get.
a toy and it will last for quite a while. unlike a dog that will like chew through. a toy immediately yeah so no more. spending on that the C Food I understand. pen insurance I understand that's it no. to well no more no more more coffee. World Market Ross you go to Ross a lot. brierton. tea it was an event here in Austin yeah. it was $40 so you're literally not. making your payments on things like I. don't really give a sh an event you're. not making your payments you're not. getting Bron tea I don't care are you.
kidding me cash happing out 60 bucks in. and out at least get real food Bath and. Body Works more. coffee better be good cuz you go there. every day Target Nothing Bunt Cake great. Pluckers that's expensive happy birthday. grandma maybe your uh granddaughter is. going to actually live a life where. she's not dying under your Bridge happy. birthday we're going to pay off debt. that kind of yeah no it sucks and it'll.
hurt them even more than not getting uh. what the bun cake yeah I guess yeah I. didn't have to they told me I didn't. have to but I felt obligated you could. have also just made a cake that's true I. do like Bing and cooking but I just I. haven't hey whoa I mean f off like. legitimately this is so stupid if you. actually enjoy that like for what it's. worth when I was budging getting debt. trust me I much prefer to eat out than. cook I hate cooking I hate doing dishes.
I hate that but guess what when I was. going on a Deb I made my sacrifice and I. did it for multiple years to do it and. guess what now I can afford to go out to. eat and I can budget it in so I do but. you already like to cook yeah so just. cook it's less of a sacrifice for you. than it would be for other people that. hate cooking so I'll do it. again Fair Island storm Amazon Netflix. Uber Uber Eats you can't afford Uber. Eats nutrition's essential.
$104 Starbucks Starbucks I mean you love. burnt coffee Target Burlington. stores Starbucks IHOP Nothing But Cake. was it their birthday again it was my. Grandpa's birthday they're like a week. apart well apparently one of them. mattered more than the other one cuz. that one was $4 the other one was 20 oh. no no no no no that was a okay never. mind I know what that is it was a I want. to get one free coffee waves Target.
another subscription Applebees hinge oh. she's a hinge premium girl not anymore I. canceled it you wouldn't even have to as. like the I think usually like the women. on dating apps are like the product and. then the men are the customer like I. know it's crazy right but like it's. that's how it's like built it's like a. play to win where like as guys you have. to like pay to like get the roses and be. on the you know you got to like boost. yourself to actually be there for the.
swiping it's kind of wild um like but. you're lucky enough to be in a position. where I don't think because of your that. you have to pay for Hing congratulations. you won that game people finders who are. we find you oh jeez an ex maybe you're. from Minnesota that was a very Minnesota. oh jeez uh no I'm from Chicago oh okay. that's close enough yeah yeah uh so. you're going to see a couple of those. subscriptions um I you're fine. then are you vetting the hinge dates.
before you actually yeah you know that's. really not the worst idea I I okay I. went on a date with a guy who was. married and I didn't want to deal with. that again so I yeah it's really not the. worst idea a lot of people have had bad. experiences that are less than safe so. it's actually not the worst idea I'd. rather you be safe than yeah I don't. want to be murdered safe in getting out. of debt a little slower versus dying. sure there's a zal killer Austin he. targets men so you're safe I heard that. yeah thanks I guess you won that game.
again keep winning all the games you. just don't win the minimum um apparently. you don't win the intelligence game. either cuz you uh pay for Snapchat and. who the pays for Snapchat oh I it was a. you restored a streak didn't you yeah it. was stupid I should have done that I. shouldn't have done that oh $25 for. people finders there wow how many people. are you vetting. it was the subscription no you know what. we're g to get more into the drama the.
the the the hinge life and the dating. scene and we'll get someone to review. your profile and all stuff and it'll be. great we'll do that in the post show cuz. we're going to stick to finances here. and we'll do the juicy stuff in the post. show oh God okay callary drop with that. place is. $85 it was for a friend's birthday place. isn't even good it's kind of crappy. Starbucks concessions great more Adobe. Sweet Paris I like the waffles there but. you get a half waffle for like 20 bucks. it's kind of crazy yeah it's just way.
overpriced and then Macy's you get shows. you. get not shows you get just get clothes. and you go out to eat every second of. your life it's is bull and then yeah 248. bucks in your 401k that you're probably. going to withdraw no I'm not okay okay. I'm just not based on like your literal. entire existence so like I you also. spent uh so 614 going out to eat but. then miscellaneous the just.
stopping and swiping your card and. things that are just nothing. $420 so there you go you could have made. many more minimum monthly payments with. that and then other large purchases uh. $215 the other large purchases were. secret level stand the code academy ven. Mo out money cash app about money in. Corsa Corsa uh corera corsera yeah it. was CU I was thinking about doing a tech. uh certification that's why you did the. code academy as well yeah but you said.
you're not doing Tech though no cuz I. was thinking about it and then I started. doing it and then I was talking to a. friend and they're like it's super. oversaturated right now and you're. probably not going to get a good. position it's interesting whether it's. oversaturated or job market it's it's an. interesting conversation um there was. just a lot of a lot a lot of hiring in. the pandemic when money was cheap and. and there was also a lot of competition. to get the best talent at different.
areas typically where the big. competition is being able to negotiate. uh pay raises and open positions in the. tech Market but for very very highly. skilled and experienced individuals is. in the world of AI right now but even. we're starting to see that get cut back. as well so you're right I mean the tech. Market is more competitive doesn't mean. it's a market that you're not going to. be able to make a living in no for an. entirety of a career so I mean if that's. something you're interested in I would. still pursue it if that's what you're. interested in sounds like you like the. side though I don't know I do like the I. didn't realize I like the accounting. side until I started working at like the.
job I'm working at now okay so I mean. you spent 1,200 bucks on B just about. just got a cut down on that Bol uh. that's $1,200 it's half your income and. that's all that's 40% of your income. cutting back that's not cutting back. that's like that's going crazy it's a. lot of. Bing it. is just whether or not you can go from. $1,200 a month to zero is my big concern.
but we're going to make you a budget and. at least where you can start sticking to. your rent is what it's um $900 I'm. subleasing from a friend it's not bad. utilities uh included that's incredible. internet also included that's beyond. incredible take advantage of this while. you can yeah this started recently so. that's also another thing that happened. with a job transition is that I moved. out from my ex's place to you're living. with the most recent ex yes we moved in.
you didn't you you just like how long. are you guys dating a year and a half oh. okay I guess that the break of the. engagement was longer ago than I thought. yeah yeah yeah okay I was very. confused you didn't get a horrible rent. to own with your ex either he bought his. own house I was just living there and. paying rent you're not on the mortgage. are you no God no okay so you like to do. that no okay your payroll.
2,235 I'm getting paid weekly by the way. so doesn't really change how we're. budget Jing that's fine perect I just. wanted to make sure so gas electric. utilities rentes insurance no I would. get it okay do you know any like ones. that are like decently Lemonade's good. lemonade okay that's what I used I'm. going to put 10 bucks a month there. might be like 15 gas v v drive drive how. much 140. cool car insurance uh 157 okay it's not.
horrendous your debt minim monthly. payments again those other ones are not. charged off so I need to put like 40. next to them okay. 40 I don't know what to do for the. quicks over because you kind of just owe. the whole package right now yeah so what. your normal minimum Mony payments and. this isn't going to be exact because I'm. having to do some guessing based on the. fact that you owe a ridiculous amount. just to catch up MH but your you're. likely at somewhere around. $884 69 which is insane for your income.
I mean that's. crazy that's 40% of your income and then. you go and spend more than that on. out to eat you probably have. 15% of your income left and then you. still have to make a $900 rent like are. we really surprised you're spending. double no but or not making your. payments the the rent is split up to two. payments a month so it's but it's still. 900 right yeah yeah yeah yeah so I don't. care okay we're doing your month what's. your phone bill uh I get it through my. family good good do helium when you get.
your own for 20 bucks a month okay TP. fun anything else you need to survive. this is makeup this is whatever um 100. bucks a month $300 for. groceries. and uh do you have like ongoing oh okay. yeah therapy what's going to be your. co-pay I don't actually know yet but I. was trying to do better help okay well. they don't do insurance oh through them. as far as I know you could do something. more like sind they connect you with. therapists can I get that like written.
down somewhere can I write it down s. mind. yeah uh you don't know what your co-pay. for Specialists are on your health. insurance you haven't looked um my. coopay is like $30 no for Specialists oh. for specialist 60 okay it'll probably be. something like 60 could be more could be. less it depends on your insurance okay. how many do you want do you want to see. it weekly or bi-weekly probably. bi-weekly okay possible I'll put in 120. for now we'll see okay you have pet.
insurance for your cat I don't is your. cat he's one 35 bucks a month could save. you a lot of money yeah cuz that was. actually one of my questions that was. how much for cat food o um I'm going to. say 60 for cuz I get wet food too I. spoil him I can't speak on the health of. the cat I just don't think you should. have got a pet until you can afford. one but I don't want to take away. something that might be considered. necessary I haven't had a cat in a while. he is my ESA he's your Esa mhm and your.
why he's going to be homeless soon no. don't say that that's why I want to fix. this I want you to fix it as well. unfortunately at this point you're six. you're $500. below it wasn't an income problem it was. a spending problem it was a spending. problem but you spent yourself into an. egregious amount of debt and now you. have no choice but to make more income. yeah so it's a combination now of income. and spending M it wasn't an income. problem your spending problem got you to.
the income problem so you're right you. have to work this part-time. job you're negative $. 57169 you need to literally make that. much after taxes just to break. even uh it's harder to give you a debt. payoff strategy without knowing exactly. how much is coming in I would shoot for. a minimum bringing an extra th000 a. month net that's so much easier said. than done you really probably need to. work 70 hours a week yeah 80 hours a.
week even which is unsustainable for a. certain period of time it's like a. unique human who can do that. ongoing because you probably need to. make an extra $2,000 a month net and. that's basically doubling your work and. especially if you get a $15 an hour job. or whatever like yeah you're going to. have to work minimum 40 at that but the. thing is in order to just even catch up. on your minimum payments you kind of. have no choice but to do that at least. for a couple. months and even if you only then cut.
back to like an extra 30 hours a week. which is still insane and you make like. an extra $1,500 net then you only have. $1,000 to put towards debt and without. getting rid of the Kia and we couldn't. even get the value of that without. getting rid of the Kia I andan that. itself takes 30 months to pay off and. that's a horrendous interest rate we. can't keep that there and you're just at. the beginning of a seveny. year thing then who knows what happens. if your ex fiance you know bailes and. you all of a sudden have to start paying. that and if you.
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luckily a lot of these credit cards are. a small enough balance. where if you bring in an extra $1,500 a. month after you catch up in your minimum. monthly payments you can pay off all. your credit. cards seven months about okay six to. seven months if you bring in an extra. $1,500 a month net well after catching. up on your minimum monthly payments. which is going to cost also couple. thousand cuz you're so far. behind about. $1,000 no couple thousand because you.
have. the Quicksilver oh and then it takes. like six months and then with the the. the key. uh I I would try to check the value see. what you can get for private Market okay. but you also need to car and I to see. what you can qualify for in any kind of. loan yeah but if possible what would. save you an extra 10 months of work. based on your hopeful income is. literally again borrowing the difference. if you can sell it for 20 and then.
getting $10,000 for a car but if you can. sell it for more I don't know based on. just what were was going for sale. they're online but you got. sideswiped I don't know I don't know. what you can get for it it might be like. 20,000 bucks and you might have to do. that little configuration mhm listen one. thing that might be worth focusing on is. getting that accounting certific. ation building up your resume the best. you can and trying to find an accounting.
job seeing if we can get closer to $25. $30 an hour let me look up some median. statistics yeah for entry level. accountants in Austin it's 2470 an hour. and then um you'll be able to get up to. 30 pretty quickly over the course of you. know a couple years or so and that. honestly might even be. if we're able to just make minimum. monthy payments sorry I'm really trying.
to think through this this is this is a. complicated puzzle of a. situation because the 30% interest rate. on so many of those debts the extra $5. an hours isn't going to make up for that. in terms of return on our investment so. I think what you have to do. unfortunately is aim to bring in that. extra 1,500 bucks a month 2,000 bucks a. month by working 30 to 40 hours a week. extra which is insane and with your. health issues I don't know if you even. can um but also at the same time getting. the certification and accounting then. once you get that literally building.
resume practicing interview skills. trying to get a 25 to $30 an hour job in. the world of accounting in Austin it's. going to be more entry level closer to. the 25 switch to that when you can and. then still try to bring in that extra. $1,500 a month but when you do that if. you're able to somehow maintain that. while also cutting back to zero which. again that is and despite what some. people say I know is unsustainable for a. long period of time I talk about. temporary sacrifice and give people. stretch goals and you know room here and. there but you're just not able to afford.
to survive right now so it's just like. you would have to cut back to zero work. 70 to 80 hours a week while getting the. certification while applying for jobs to. get the biter income and it still. takes 3 to four years to do this and get. an emergency fund so this is going to be. a tough road ahead this is going to be a. tough road ahead this is what you got. into though this is what you got into um. and the thing is the reason why it's. going to take so long to pay off is the.
Kia yeah thing is if you didn't have the. Kia a lot of this credit card debt. though you're behind and it's kind of. gross how you've been doing it the. balances are low enough that we could. get out of this in you know year and a. half if we really grind out sure so I. might honestly I. might I might call a dealership today. and see what you can get for a trade in. really on that I really might if we can. get this for even 25,000 and borrow. 15,000 you need to see if you can. qualify for 15,000 get a car and pay off.
the difference okay that's going to. speed this up tremendously almost by. twice student loans I'd get eventually. once all this debt is gone I'd get on a. traditional 10-year payment and pay it. off within that and minimum monthly. payments well saving up for an emergency. fund. but this car is going to be what's. holding you back so the the quicker we. can get rid of that somehow okay the. better if you're able to private sell it. or trade it in for 25,000 yeah that'd be. incredible I I don't know what the value. is again they were listed from anywhere. from 25 to 35,000 in dealerships here.
yeah but I don't know what you could get. for it probably not 35 obviously. nope exactly if you can get it for. 25 I don't know I I need you to make. some calls after this there's going to. be some work that needs to get in and. obviously the discipline side of things. but even still for you the car is kind. of the solution here and it also opens. up a tremendous amount of your income. $624 of it and I I I will say I do. regret getting the Kia because my my. Nissan ultimate payments were.
$257 a month yeah and yeah and you were. probably decently close to paying it off. I was like 70 80%. off allow this to be your learning. mistake this I was going to say for. situations where it's so difficult and. the income stretch is so large and the. sacrifice is so long to get out of it. bankruptcy is sometimes an option but. for you again the car is the issue and. you're not going to want to give that up. during a bankruptcy likely through your.
situation so again the things that would. be forgiven or even the things that are. holding you back as much so you need to. look at getting rid of this car okay but. if it all of a sudden comes in like the. value of. 15,000 this is going to start becoming. not worth it and you're just going to. have to grind this out for like five. years and the reason you kind of have to. is for your future yeah your s right now. and through your early 30s if that's the. worst case and that's what you have to. go to. down you just have to remind yourself. that it's literally for the next five.
six Decades of your life that's why. you're doing it yeah but it will be a. suffering of a few years it really will. yeah definitely hopefully we don't have. to do that though no I'm going to I'm. going to make the calls as soon as I. leave and then I'm going to go ahead and. and meet up with. uh I don't know see if I can get. anything remotely close to the 25k for. this one I mean you were correct about. your Hammer Financial score we're I mean. let's let's change the let's have more. juicy fun conversations about uh that. stuff in the post show so make sure you.
guys uh click the join button below or. check out the link and join us for the. Post show and all the other member. streams and things that we do helps. support the channel uh but if your. Hammer finan score I think you're. completely correct I mean you overspend. on your budget so zero debt you have. collection zero emergency fund you have. nothing zero retirement you're redrawing. from that you're pulling from it it's. zero real. estate technically you're on it but you. said even if he sells you don't get. anything so it's a zero. yeah H Financial score Z out of 10 make. sure to check out all the resources. Linked In the description below they are.
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