Beta Boy Compensating With Stupid Car | Financial Audit

Hi, my name is Ian. I'm 21 years old. I'm based out of Arlington, Texas, and. this is financial audit. Okay. Mr. Ian. I have immediate thought and concern. Just go right in front of me. Not the. largest stack by any means, but. immediate thought and concern. But. first, I want to know what are you doing. for a living and what are you bringing. in? I'm an assistant manager at a QuickTrip. in South Dallas. Okay. Explains all the. QuickTrip purchases. It should. And I make around 60 to 65 a.

year. Really? As an assistant manager? How. many hours a week are you working? Uh I. The base is 46, and that's where the 60. comes from. Mhm. But the range is because I take a lot of. extra shifts. So it's What's your. hourly? 15. Okay, wow. Yeah, jeez. You're grinding. then. Okay, well, are the bonuses based. off of uh location performance? Store profits, yeah. Yeah. And um we have secret shoppers. that come in. And their scores they give our store. determine uh the other part of the.

bonus. So it sounds like you have a pretty good. score. Yes. So you have a pretty good. score on your job part, which leads me. to extra concern as to why the possible. We are. having a late fee on this first thing. that's in front of me. First thing, first thing, 21 years old. Not what I. want to see for someone 21. Immediately throwing their financial. future down the drain, especially when. you're making money. That's going to be. upsetting. So.

$55.68. of late fees. Right there, off the bat. It is, yeah. I. essentially. uh. made a decision to. defer that payment to the next month. What? It's a credit card. You can't just. What do you mean? It's my car payment. This one's your car. payment? Yes. Okay, but we You have another one that's. a credit card that you're also late on. Yes. You make too much money. The money. that came in at 21, by the way, I would.

have done. way too many terrible things to bring in. 3,000 net. 3,301. dollars and two cents. from your job. Mhm. Is that a normal month? No. Uh is that. from the month of February? It It's from. the statements you gave us. Yeah, so I recently. after that month, I was So our bonuses. are based off the previous month before. So that would have been from January.

when I was my very first store they put. me at was a slow store, like a starting. store, and I was promoted to a busier. store. What within like. We're only a few months into the year. Yes. So I was there for a month and I. got moved to a busier store. What would. you say hits your account on average? On average, if I work normal hours, my. three of the four weeks, the regular pay. is about 750, and then the bonus week is. 1,500 to 1,700. I'll speak conservative.

of 1,500. Yeah. So Okay, a little more. A few hundred. bucks more. 3,750? But that's before. taxes, right? Or are you saying that's. net? That's net. Okay. Well, again, 21, the things I would have done. It's what I've heard. No one believes the pay, but So why are. you [ __ ] up immediately then? Like seriously, Yeah. man. No, why are you [ __ ] up immediately. is what you're going to answer. I made.

some decisions to. enjoy I I already before getting. promoted was when I owed on the credit. card quite a bit. Yeah. And I. basically just when I promoted, I wanted. it to feel that way. in my spending rather than having to. just immediately. dump it into bills. But these are bills. that you agreed to. These are bills that. you took out. Welcome to adulthood 3. years in. Congratulations. Or do you. need to be coddled and held at home? You.

signed up for these bills. There isn't There isn't the I just want. to go spending so I'm not going to take. care of my life's responsibilities. Leave these payment and now someone's. going to come take that car. And you're. still going to owe on it after whatever. they sell it for. Yeah. I There's a There's a. pretty big gap in the loan, too. How. much it's worth. versus how much my loan is. At 21, golden opportunity. Golden opportunity being squandered.

Oh, it hurts to see. I just did like a. mouth fart. That was great. That was interesting. Ah, okay. I'm glad I could Could you say that. again? What is happening? This is chaos. Glad I. can have a laugh when I'm seeing just. this terror and pain in front of us. Uh, and then you also go to school, don't you? I think I saw.

Yes, I'm a full-time college student. Okay, well, that's a lot of time. How do. you even have time to spend this extra. money that you're spending? What What. Okay, so what are you studying? History. Okay, history's great. on going to law school post undergrad. Interesting. Okay. How many years or. semesters are we into undergrad? This is the end of my third year. So I. have one more to be graduating May 2025. And then when do you plan to go to law. school? Immediately? Immediately. Yeah. Fall 2025. Well, I know someone.

His name is Ian, and he doesn't like to. pay debt. when he owes it. And in law school, how. are you paying for that? Are we. borrowing a few hundred thousand. dollars? Yes. I would have to. Does that make sense for someone who's. like, "I I don't pay debt."? When you. put it like that, maybe. But What kind of law? I want to do criminal defense attorney. Okay. In court arguments. All right, give your give yourself a. financial score, zero to 10. 10 being. the best, zero being the worst.

I probably make good money for compared. to other college students. Um. So, that's the only reason I probably. give myself like a three. You're missing debt payments and you. gave yourself a three. You're missing. debt payments and you gave yourself a. This is going to be this I need this to. be the ultimate wake-up call of a. conversation. My. 21-year-olds out there, you better. listen into this. Oh my goodness. Yeah, I wouldn't be laughing, but I get.

it. Cope laugh, everyone does it. If you. want your financial score, it's free, link in the description below. Also, be. nice to our boy over here. He came on, he was brave enough to actually be here. I'm the Caleb Springer, only I can meme. on you and meme on you in the title and. thumbnail, and you know we will, but be. nice to him, you know, he's coming out. here. But, I'm going to give you a. wake-up call cuz this is insanity. If you have a business and you're ready. to actually take it to the next level, you're in luck. Today's sponsor, Taylor. Brands, is exactly what you've been. missing. The ultimate business builder.

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selected LLC plans. Again, the total. amount due right now, total amount due. on this. whatever the [ __ ] this even is, which. we'll get to, $1,113. is what you owe right now. On my car. Yes, on your car. I know, that's what. we're talking about. 1,000. uh. Okay, so what's the what's the Okay, so. the total balance $20,883.61,

which is insanity to have in your. position of a college student wanting to. go borrow hundreds of thousands of. dollars to go to. law school, which I'm totally supportive. of if that's the career route we want to. go down. Um you just got to grind. You. got to grind and we don't go into insane. car debt before you get. Okay. What's the normal minimum monthly. payment, my dude? $556. Why you [ __ ] suck?

What's the interest rate on this? 24.1%. No. Yes. That's. That is one of the more disgusting thing. You're [ __ ]. It's the age thing. The age thing. Dude, the interest rate is higher than. your little age. Why are you laughing about that? How can. you possibly How can you possibly sit. there and get a giggle out of that?

I get it. I'm a little bit my words. Okay, fine. You might some cope laugh. You're. getting confronted for the first time, but. buddy, do you know how. that is? Like legitimately, how. absolutely life ruining that is to your. finances? I didn't until I decided to. multiply the minimum payment by the. length of the loan. What's the length of. the loan? 72 months. Are you. Who sold this to you? I need to go beat.

the [ __ ] this person. It was CarMax. I thought I could trust. them. Oh, yeah, it was. Yeah, it was. How many years are we into this? I had. it I got it in June last year. Okay. So, you got it when you were 20. Yes. If you're If you're selling this to. a 20- You know, never mind. It's a. It's a free open economy. You're an. adult. You're allowed to go make your. stupid decisions, but like I would. personally feel a bit gross selling you. this. I put a $5,000 down payment on it. as well. It was a 25 $25,000 car.

And you put $5,000 down on it? I did. But you owe $21,000. So, it's only gone up Oh, it's probably. because you're not paying your payments. The vehicle was 25. The loan ended up. being 26 something. After you put five down on it? Yes. Cuz of taxes and registration and you? Yes, exactly. What is this car? It's a 2017 Ford Mustang. A Mustang? Why. Why you even care about just like a. modern Isn't Aren't the only cool.

Mustangs from like the '70s or '60s? Those are the ones that made me get this. one. Why? This is probably a modern piece of. [ __ ] That look It's like nothing. Who's. getting a Mustang these days? Kind of car. Look. I promise this. uh What you said, 2017? Yes. I promise. this 2017. uh. muscle car is not making up for your. twinkness. This is not going to turn you. into like an ultimate man. No, not at. all.

At 21. [ __ ] percent. I need to see this thing man. I need to. see this thing that you have your life. for. Can we see are we allowed to take a. look at it? Yes. Are we allowed to take. a Okay, let's get a camera together cuz. I want to go and take a look at this. thing. It's pretty. It's like a game show. Let's go on the. Let's go Let's go Let's go. This is insanity. Let's see. Get a camera. Wait a minute. We're getting a Okay, so. we're getting a battery. Well, my producer just told me that.

Let's see what he's done for a second. Just a number that I wasn't aware of. Something else. Okay. So, he said insurance. Insurance. Please. Okay. What's your insurance? Car insurance. payment is 770 a month. I've never. heard of that.

What the [ __ ] your life? I haven't been licensed for very long. either. I got it when I was my license when I. was. 19. It's part of it. And then they uh. What the [ __ ]. Car has two doors, so they charge a lot. more for that as well. What is this car. worth today? Around 16,500. It's not the world's worst guy for this. is. This is. You're 21.

This is insane. I don't want to shame. you for this, but I'm just like. processing how [ __ ]. I've never heard of an insurance payment. like that. I've never heard of an insurance payment. like That's [ __ ] insane. It was a lot. cheaper when I was on a plan with other. vehicles. When I got my own plan though, it jumped. Where did you apply to the show through? Where did you apply? Through the link in the YouTube. description. Okay. Okay.

You're just someone from the audience. Again, I I've heard a couple people. like, "Oh, it's a paid actor." You're. someone from the audience like. I wish we were faking that you had a. $700 payment, dude. You're 19. Insurance payment? Let's take a look at. this thing. I got to see this this. magical thing that's worth throwing our. lives away. How is this? This This is like the most. basic I've ever seen in my life. How is. this worth ruining your life? I'm. confused. When did you save up and work. hard to get something like cool just.

straight up legitimately? I would rather. drive. The guy who's filming this, his. name is Noah. He's a producer. I'd. rather drive his piece of Jeep right. there. I'm not even kidding. It's a. Liberty. I'm not even kidding though. I. would cuz at least like there's space. Can I get in the front? It's on brand new though. Oh, gosh. I mean, I legitimately don't get it. This thing looks like it was This thing. looks like it's from 2001 in here. We're. throwing our lives away for this for all. these teen buttons and This is the.

premium version with leather seating and. the screen here. I don't believe 5. seconds 0 to 60. 5 seconds. One way to find out. Here you. go. Hold this. May I? Am I allowed to? Yeah. I'll I'll be honest. I. Since someone hit my Jeep, they were in. a turn lane. They were I was driving by. and they were like, "Oh, I don't want to. be in this turn lane anymore." They hit. me. I ended up having to get a new car. and I I got a Tesla. Every other car. feels like a piece of. It's compared to the Tesla. Yes. But. it's also like the same price of your.

car after tax incentives. Okay, let's. take this on a road. Oh, gosh. Oh, we'll. be sure to give you gas money. Why is it. making like a triplet over duos beat? my front front right blinker is out. It sounds like. uh. it's a Christmas song. Oh, sport. There you go. Buddy. Buddy, I didn't even feel anything. Yeah, there's there's no there's no.

kick. What the [ __ ] just happened? I was. expecting so much more. Let me try to. not crash your car. Wouldn't that be. pretty cool? Oh. I just realized I only know how to park. now with the thing telling me how far I. how close I am. God, I'm such a little. baby at I I don't think I can drive cars. anymore. That was the most underwhelming. 0 to 60 I've ever experienced in my. life. He's talking about Teslas, those aren't. even real cars. What do you mean not even real cars, huh? It's electric. It's silent.

Cars have heart and soul and volume. That's like someone who used an icebox. in the past saying that refrigerators. aren't even real cooling devices. They're not. I'm driving something. that's going to last 300,000 miles. You're driving something that's going to. die in 75,000 while going to 0 to 60 in. like 10 seconds. I think you're just too used to the the. fake cars that Too used to modern. technology that's been invented.

post-1940. Yeah, I am. I'm a classic. That's okay, you stay on. that old I'm going to join the rest of. the world in the 21st century. Wasn't your suggestion for me to get a. 1970? No, I'm saying if you actually want a I. see I keep thinking of like Camaro or. Mustang. Well, it's a Mustang, right? Mustang. If you want a Mustang, get the. one that's at least considered cool. No. one gives a [ __ ] about the 2010's. versions or the 2020 versions, do they? If you pull up next to them, I'm like, "Oh, that dude's in a Dodge Charger.". Like that's what I would think. I'm.

like, "Ah, that's a. who's like deeply in debt probably. because every single person that drives. those kind of cars is deeply in debt and. they're just trying to pretend like. they're a little longer than 4 in and. like. I feel like that's all that's happening. Is that what we do? Is that what we do, ladies and gentlemen? Are we in the. point where we are missing. car payments, have a 21.4%. interest rate. 24.1 24 Oh, it's worse than I. 24.1% interest rate, missing payments,

and a $700. insurance payment just just so that. people think we're above the national. average? It's more for myself. I don't I don't do. it for attention from others. I enjoy I. enjoy the car. I enjoy the experience. driving the car. I love how it looks. I can look out at it. We have cameras in. the parking lot at work. I'm working. I. can look at my car. Oh, freaking getting off to your car. now? This is.

Sorry, I know I've I'm bullying you. I. am. Actually, I'm not that sorry, but cuz. it's kind of fun. I can. Cuz it's so silly. It's such a silly. thing to ruin your life for it 21. I. don't get it. I don't get it. I I I. would sell this car today. I would sell this car today. Are you willing to consider selling this. car today? No, I don't know what I what I would do. with that gap. And I'd be car.

the gap is so minimal compared to what. you could save. If you got a $7,000. beater piece of not Oh, oh, something. that would get you reliably around where. you need to get for a few years to come. safely. You could borrow the gap and. you'd still save so much money, especially when we're talking about like. a. 70-month term at 24.1%. and my entire life now. I just I don't think I could. drive a car like that every day. I promise it's not much worse than that.

I've driven cars, and I'm not a car. person, but there was nothing unique. driving that. I'll just be honest. I. know I'm being cheeky, being a little. dick, but to be completely honest, there. was nothing special about driving that. My Jeep did not go that much slower. before someone decided to hit it. Uh you. know, like We could test that. We could. test it, and it was slower, but I did. not get that much of a difference. I did. not get that much of a difference. Your gas mileage, I don't know if No, but. uh I mean, it's a pain in the.

We don't need to go in circles on this. You're You're seriously not willing to. consider this. Why come out on a. financial show if you're not willing to. take what is probably one of the bigger. things off the list. We could save you. close to uh. just in balance alone, $9,000 if we did. this and we financed it, but it would. save you probably in total 15 16,000. dollars in total uh when you're. calculating the interest that you're. going to be losing. Cuz once once it's sold, I would you. just.

it doesn't cover the full owe it on the. car. said you're borrowing the gap. Oh, so getting a loan on another car and. adding the gap to that car is what I was. saying. gap's what? $4,000? $5,000? We got a. $7,000 car, you know, so we're looking. at a $12,000 loan potentially at an. interest rate that's not great, but that. saves you 8 to $9,000 on the balance. there alone, and then what it's much. easier to pay off aggressively, hopefully before we go to law school, which. whole different conversation. Can't wait.

Can't wait for that one. And um. your interest is honestly probably going. to be better on some kind of personal. loan, and the term is certainly going to. be better. You're breaking my boys'. hearts over at The Money Guy. Do you. know The Money Guys? Any chance? Okay, they're a great finance channel. They're. more for the We're We're, you know, a. little more entertaining and focused on. the beginner stuff. They're more. advanced and you know, just diving into. more advanced stuff, but when they talk. about car loans, they say no more than than 8% of your.

income is the min is the minimum monthly. payment, no longer than 3-year term. You've broken the [ __ ] out of that and. uh 20% down, which you're kind of close. to. But you're breaking that term thing. They don't have rules about interest, but I'm sure they would be very upset at. your interest rate. Wow. Okay, so that's one loan. 30 30 minutes into this and we're one. loan. I don't know where we are at in. the video cuz I'm sure a lot of that. stuff was edited, but.

Okay. Okay. So we have a Discover card. I would. be willing to sell my car for a more. expensive, newer car. Maybe you would like the newer one, too. And it'd be worth It could be worth the. money. if it's going to be spent anyways. You know, we just talked about the gap.

in borrowing like $7,000 for $7,000 car. More expen- What are you talking about? So You're talking with people with. people that have had the same income and. position at my age. Don't you They've. been approved for. 50, 60,000 dollar cars. So even if I got. something that's 40, add on the five. I'm just I'm just going off the fact. that you're young, dumb, full of. complete stupidity. And I'm going to just I'm going to take.

that and I'm going to be gentle here. I'm going to be gentle. Gentle Caleb. Everyone loves. gentle Caleb. What kind of car? What What are you even talking about? I've looked I like uh something with the. luxury. Specifically, I've looked at a. Lexus RC F. But I thought the whole point of the. Mustang was that that's like your. family. Yeah, the. about a Lexus? The The Lexus is it's.

It's like a Japanese Mustang is what. they call it the RC F. Who has ever said. I'm sure people have said that. the exact same. engine and like drivetrain or yeah. The. the engine is that Not that one it's. it's the same engine as the higher level. of the Mustang. What's its 0 to 60 cuz. that was not 6 seconds like you said. Probably. probably 3.8. No I doubt. So according. to you it's probably double that because. that was like 12 seconds. No you might just not.

You said you didn't know how to drive I. think that could be accurate. Cuz Didn't. know how to well. it's not not knowing how to drive it was. getting that whole. bulky thing with. out antiquated technology into a parking. spot. Well. But yes I have been spoiled as of late. with my new one. But why do why do you. need that at 21 like legitimately why do. you think you need that? I'm going. gentle I feel like I want to slap you.

across the face tell you you're stupid. but I'm going gentle and I want to at. least hear your thoughts on this. So why. the possible do you feel like you need. that? Is it the income thing that you said. other people in my income and my age are. doing that? Is it that? Uh I that just really is my. justification to know that I could but. my. reasoning was just that's just my only. the only interest that I have is cars. and I drive a lot so I want to I want to. enjoy those I drive like 70 miles to and.

from work. I'd love to enjoy it. So you want a car. that expensive that you're putting that. many miles on on a daily basis? Well I guess recently it's been 70 but. with my new apartment it won't be as. much but No. the more I drive then the more worth it. is to have a nicer car. That doesn't make sense. I feel better. in No no no feel better. There's so many. different ways to. So that's your only interest in life. Like a legitimate. Outside of Outside of why I play video.

games, watch. anime, things like that. But as far as. things that cost money with my. interests, I play basketball. Basketball. money. Basketball can cost money. It can. But I have a I have a gym membership and. they have a court, so. it's not too expensive compared to The. only major expense that I Something that. I like people have hobbies and Some. people will buy a car and throw. thousands into it to. change it, but it's I don't do that. I.

just spend it every month. Holding it together. Be proud of me, guys. Caleb Springer's. holding it together. This This Yeah, because it just it like. ruins It ruins this conversation for me. Because. there's more to go through. There's. spending to go through. There's a couple. more debts. This. card This credit card with another late. payment. But we're still on this car. thing. And. you know what? Let's loop back to the.

car because I'm going to get derailed. and I want to keep the conversation. going get your full financial picture on. display, but I'm going to It's I feel. dead inside that a 21-year-old is saying. the things that you're saying. And it's. actually just You don't understand how. you are making the remainder of your. life right now, but. let's move forward. $788.56. There it is. There it is. Late fee because Oh, we make good money. Hey guys, guess what? If I make good.

money like other people in my position, I should be able to go get a [ __ ]. Lexus. You're not paying on the car loan. you already have. You're not paying on. this credit card that you have here. You're not going to cash flow any part. of school, and you're like, "I'm going. to go borrow 200 300 thousand dollars of. loans.". What in the possible do you think you. can do? You deserve You think you deserve a. Lexus and you're not paying on a easy, simple, simple, simple minimum monthly. payment credit card? How is that. possible. to.

It's. I know that. if I Stupid. had to or if I if I could. It brings me security to know that I. could pay it at any point. Oh, [ __ ] you. What do you mean security. is having no bad debt and a fully funded. emergency fund security. Security, what. security are you talking about security? There's no security here. You currently. have a $444. minimum monthly payment because you're. not manning up. You're just sitting. there jerking off to the Mustang all day.

instead of taking care of your [ __ ]. It's. Essentially, I know that uh I have. You need to get sent to like the. military or something. No, they don't make as much money. It's. not about that. It's actually just your. discipline, your mindset, your. immaturity. It's like I'm talking to a 14-year-old. I think that I I know that I have So, if. it's $400 or it's the total is I think.

700 and 70. I have that much left over. every month. So, any month I could. So, why haven't you paid it then like an. adult? Tell me. Tell me why you haven't done it. I. having to move out this month very very. abruptly, very suddenly. Why? I was in a 3-year relationship with. my ex-girlfriend and that ended a couple. weeks ago, two or three weeks ago. I'm. sorry, that sucks. That really sucks. We.

lived together. Yeah. Okay. So, um That's what the Did it end. poorly? It did. Okay, I was going to say. the fact that you're being forced out is. like. Yeah. It was a not a not a clean split. Uh it. was. Why? What happened? We. couldn't just couldn't communicate. really. That was the main issue and so. any small thing would get bloated into a. bigger argument and. eventually it was just me reached a. breaking point after.

How old is she? 21. Hm. And you literally Okay. So, you just. signed a new apartment. You mentioned. that earlier. I did. I I just paid my moving fees and. got my keys today. What's your new rent? It is 1323. It's 40% of your net, dude. I. Wow, maybe it was a blessing to just At. the beginning I was like, I'll do crazy. sh-. at 21 to make that much money. But you. know what? With the mental maturity I.

had around that age, uh it took me many years to grow the. [ __ ] up and like actually get my taken. care of. If maybe if I made this much money at. that age, I it would have hurt me even. more cuz you've lifestyle inflated the. [ __ ] out of yourself. You didn't need. rent that expensive right now at 21. Come on, we've all lived in a shoebox. when we were that young just trying to. make it. You're just spoiling yourself. You're just And you want to get a. [ __ ] Lexus? This is like. Go!

My. the my reasoning for I chose to to. choose the higher rent than some other. ones in the area. mostly because of safety. I work in a. really unsafe area and that's a lot of. my days and so when I go home I don't. want to feel. that same worry that I felt before. is he talking about? What do you. Uh. the. What city is it that you're working? It's in South Dallas. Okay. There's a lot of Dallas left besides.

that one area. A lot of Dallas. I chose to live in. Arlington because my school is in Fort. Worth. So, it's about halfway in between. both. That's not a completely unjustifiable. reason, but. I know for a fact you could have gotten. rent cheaper. And it's not even just. pissing me off that you did this. It's. It's what's worrying me. is that everything, man. You've. lifestyle inflated yourself in every. situation. Your spending certainly has.

as well. We haven't gotten there yet, but in terms of where. any purchase that you are doing, you are. taking it to the extreme, pretending. like you're making a hundred hundred. fifty thousand dollars a year when. you're not. And you have this massive. thing you want to take on called law. school here in a bit. You're putting yourself in such a hole, it's it's it's beyond dangerous. It's Wednesday. You need a free twenty. dollars. Usually you get five dollars. for signing up for Acorns, but using my.

link in the description below, you get a. free twenty dollars. There's no strings. attached. Make your Wednesday better by. getting a free twenty dollars for. signing up for an amazing platform in. the link in the description below. And there's only a fee. forty-one dollars, and then interest is. charging as well. So, we already have some student loans, it looks like. Yes, I. That's for this this semester and the. previous semester. What was happening before then? I was. paying out of pocket. for it. What changed? Oh, the mistake in there.

Yes. Actually? So, you're. So, you're choosing these other debts. for these other luxury items and an. apartment that is too expensive for you. You're choosing that over cash flowing. your school. Good. I don't know. Okay. You You push back on. the car. Maybe you can walk away from. something in this conversation. I really. hope you do, and we're going to connect. you with good resources either way. But more than anything, my goodness, if. you are young out there and you're even. considering this, it's just like.

Watch this Watch this Send this video to. everyone. who. is about to go to school or considering. a car purchase, cuz this is. insane. It was insane and my mind is. going in circles right now. And I like school. I'm good with going. to school. Borrowing to go to school can. be good. And I talk about certifications. with course careers. I talk about trade. schools. I I love all that stuff. There's a lot of good ways to go about.

education, but the fact that you were. cash flowing it and now you've actively. chosen not to in order to take out more. debt for luxury items is like one of the. dumbest things I think I've ever heard. in my life, legitimately. Like. end my entire life right now. This this. is so beyond stupid. This is so. Before this is my very this is my first. car. So, before getting it, I was. walking to work. Good. Keep walking to work. Then we moved, so. I could no longer walk to work. Well.

You and your girlfriend moved, okay. Yes. Yes. And our two for cars, believe it or not, are $25,000. This is the only car I really looked at. when I was searching. I was set. Oh, [ __ ] me. Okay, let's keep. going. Let's keep. keep going. This is stupid. So, what is. the What is the balance? So, what what is What is the semester. cost? I know you're borrowing the whole. thing. Yes, it was.

2250 this semester and 2250 last. semester. So, 45. 100. And then you're doing another year, and let me guess, you're financing that. Yes. It's stupid. So, we're borrowing a total of $9,000. Oh, but that's a drop in the bucket, cuz. guess what? We're about to draw borrow. minimum $200,000 on law school. And you gave yourself a hammer financial. score of three. That's hysterical. That's the best joke I've ever heard. I. had a comedian on the podcast a few. weeks ago, but that's the best joke I've.

heard in this last year. It felt fair. What do you like a trophy? Like I. deserve a trophy kind of person? Is that. who I'm talking to? I thought my my score that I picked a. three just because I feel like I have a. pretty good pretty good potential to fix. the situation. about potential, it's about where you. are today. You're assessing where you. are. It's not about where you think you. might be. That doesn't make any sense. Fair enough. hammer future financial score. That. isn't Is that what it's called? I don't.

think so. I don't think so. Uh I'm I'm being a being a. but. I. I'm just. I'm. losing it. Like I'm like. hyperventilating. Like I feel like I my. my vision's like. cuz I'm like breathing so much of how. stupid this is. $50.82. That's what our checking account is. Yeah, it makes sense to get a bus thing. in a. $1,200 $1,300 rent or whatever it is. It. makes sense. Chick-fil-A, Apple bill,

Chick-fil-A, Panera Bread, Cash App and. out money. You're sending it to your. Cash App. Ritz-Carlton. Oh yeah, we're. living that real bougie life. Well, what. are you doing in a Ritz? That was. Valentine's Day and an anniversary. celebration. Well, guess what? That. didn't work out very well, did it? Fair enough. That was mean. I apologize. I'm a quippy little. but not the little that's necessary to. buy a 2017 sports car. I think that the.

Tesla says something more, though. It doesn't make any sense. You tried something, but that didn't. even make any sense. Gong Cha, Panera Bread, Cash App and out. money. Whataburger, Cash App and out money, Chick-fil-A. I'm going to look like such. a This episode so many people are going. to be angry. Panera Bread. Oh, Nails and Spa. We treated the ex. We. did. Rip. It's okay. I'm recently an ex, as well. Not 3 years, 6 months, but Ah.

Well, I get it. Yeah. I'm I'm hitting. those apps. We can we can be app. buddies. We can be hinge buddies. We can. suffer together. That's I don't think. I'll be doing that. I'm I'm. I'm not interested in moving on. Personally. She was great. Yeah, but also that's not. how it works. Someone who's been through a few. breakups. Yeah. That's not how it works. Was this. your first breakup? Yes, it's my first. relationship.

Oh, buddy. Oh. I was a little younger than you, but you. should have seen how I took my first. breakup. It was embarrassing. My. goodness. My friends could tell you so. many stories. I could not handle breakups and it. I get it. You will move on. It might. take a little longer. It's fresh. It is. How fresh? Couple weeks, yeah. Oh. After 3 years. Go. Yep, that's fresh. We are still. friends. Oh. Doesn't sound like it from you being. kicked out.

roommate enough friends, but. Well, if you're friends, you'd let. someone not be homeless, but okay. Chick-fil-A, Microsoft, Viak, Panera Bread, Apple bill, Panera Bread, McDonald's, Cash App and out money, some. taquitos and DoorDash DashPass. Yeah, that's what makes sense when we have $50. in our checking account. That's really. smart. That's awesome, guys. Um taquitos, taquitos, you're just getting drinks and snacks at. QT while you work there? Uh a lot of. Sometimes a small charge at QT is if I'm.

uh I I pass a lot of. other quick trips on my way to work, and. so if I don't have enough gas to make. it, I'll just stop and get like $3? Cuz. sometimes I'm running a little late. But. I have no I have. You make so much money for to be a $3. stop at a gas station. I used to be a $3. stop at a gas station, but I I made no. money. And also I don't have to do that. anymore. That's another win. You have to take a 2-hour break to. charge it though. Or more. in once a week at home while I'm asleep.

Oh. You have a home charger. That's. different, I guess. Yeah. Not everybody's there. It's like I think. it was like $200. Think if you're. getting like a 20,000 30,000 hour car. after rebates, you're getting a $200. thing to plug into a wall at home. I. thought it was a lot more than that. Car. guy knows nothing about cars. Interesting. Well, real cars. Car real. car. Okay. And we're getting some taquitos. and DoorDash.

Cheesecake, Cedar Gate, Apple Bill, some millennium thing. Center Place and Nails. You gave her. lots of nails and she gave you a lots of. homelessness. Well, she she did offer me a place to. stay. I just didn't feel I felt like I. was. I felt I didn't want to take. advantage of just that she. was taking advantage of that. She's just really nice. And so she. didn't want me to be homeless. Didn't. want me to be Oh, yeah. Well, this is.

You are not over her. $1 and a Cash App. thing. So mostly just I I can't tell. where a lot of money is going. It's Cash. App payments between people and items. A. lot of times there's money going back. and forth between me and my girlfriend. for. bills sometimes, but also if we're at. dinner or. whatever else, it's being moved and. sometimes I would just transfer money to. my Cash App and then use my Cash App. card to pay. So. That makes sense. Yeah, this is money back and forth.

PlayStation, PlayStation. You already. had Microsoft, but okay. And some taquitos or just a $3 gas and. Chick-fil-A, Waterburger. This is I. mean, this is fast food savings. Whopping. $0. Imagine making that much money and just. like choosing. choosing to like potentially die poor. and in debt. Cuz that's what you're. doing. Well, let's do a little example before. we go into any budgets or car talk cuz I.

know we need to talk about that again. Um. we are putting our arm around you. in terms of this is the tough love, but. we're going to give you lots of love. afterwards and we're going to do. follow-ups and all that good stuff. But. but. we'll give you some Oh, every time that. guy that was filming back there, uh. Noah, you know? Yeah. Um that dude that. dude's getting matches left and right on. Hinge. I saw. He's going out on dates every like 5. seconds. I did see that that was about 3 months.

ago though. He's a killer, isn't he? Oh, look at. that beard handsome man handsome man. back there. He's he's you know, with the. ladies. I've gotten like three matches since I. downloaded Hinge the other day. That guy. gets like three matches every 50. seconds. So, I'll put my arm around you. financially, but we'll get Noah to put. his arm around you like bro, like. wingman style. You can go to the bars now. See, I hate. bars, but he invited me to the bars the. other night and I was like I don't want. to go cuz ew, that's gross and it's past.

10:00 p.m. Well, maybe you guys can go. You'll do some cold approaches. You'll. get maybe your second woman in your. entire life and I'll be like. Well, I I've met my girl- my girlfriend. I met her on Tinder. Well, Tinder's. pretty much out, but Yeah, she was the. first person that I matched with. Well, she sounds like the first person for a. lot of things for you, but um. we're going to grow beyond that. 750 I'm. in a mood in this episode. You That's. the that whole car thing put my brain in.

an other level. I think that you haven't experienced a. a great car, you know. It gets you hooked. A great car? Buddy, I drove that car. If. that's what's considered a great car, I. literally drove it. Well, it's a it's a. it's the entry-level entry-level drug to. the. to the. car activity. Yeah, 24.1% that's entry-level. Mhm. Okay, you're 21. What, let's get to just 59 and a half.

So, 39 years of investing based on your. income. I know it's not your dream job, but let's just pretend that's what's. happening. You're investing $750 a. month, which is 20% of your net. You. know, let's just go conservative. And. then 8% annual returns, which is the. average return of the stock market from. its beginning to where it is today. Okay. Yeah, you'd be retiring with $2.4. million. Also worth about. uh you know, 1.5 in today's money, 1.25. Okay.

That's what you'd get, dude. Is that. solid? I don't know. I don't really know anything about. retirement. Is that a solid amount? You. could certainly retire. I mean, that's. Okay, 2.4. Let's just do the 4% rule cuz you'd be. retiring in your 60s. You don't need to. have it last in like forever and ever. multiple endless decades, which is where. you do 3%. That's $96,000 a year. Can you survive. on $96,000 a year? Certainly. Okay, and. that's what you're giving up by going.

and getting uh dumb car and going and. getting a rent you can't afford when. there's a lot of options and. fast food for $50 in our account. Not paying our minimum monthly payments. on the two debts you have. You're. literally not paying your minimum. monthly payments. Your credit score must. be. It's. I think it hasn't really changed since I. got. it? About 600. Okay, so it's definitely. not great. No. And of your spending categories, let's. not to get some Let's get some stupid.

stuff here. This is stupid. Okay, 13.3% of your spending or $618.42. goes to debt payment. It was catching up. on even though you're not caught up, you're still behind you $1,000. Great. 6.4% went to transportation, probably. gas. And. is car insurance included in that? No, I did not. We didn't have the car insurance at that. time. So, that percentage would be. completely blown out, but at that time. it was $299.88. Necessary food, 2.3%. Come on, that's.

groceries. $107.49. That's insane. We're going out to eat is. 9.6% or $445.94. You're an adult. You're 3 years into. adulthood. You don't You do not need to. be coddled anymore. If you are incapable. of living as an adult at 21 or 18 or 19. or 20, then you should be sheltered. You. shouldn't be able to go off to college. You shouldn't be able to drive. You. shouldn't be able to rent a car. If you. are a child, you are a child, you are a. child, then you need to be treated like. a child, but you're not, so act like a. [ __ ] adult. Unknown shopping, 13.3% of your.

spending. It's typically Walmart, Amazon. Don't really know what it is. Okay. Uh $618.76. Miscellaneous both of them getting into. get-togethers, 5.5% of your spending or. $254.70. Subscriptions, 0.6% of your spending. And the big whopper, and we'll go. through the individual items. 49.1% of your spending is other large. purchases or $2,291.42. And that's cash out money just going out. and that's where you send it between. bull Ritz-Carlton cuz. living that bouge. Like this Red Roof,

dude. Like, come on. And a Cash App loan repayment? I did. I I It's paid off now, but I did. take out a Cash App loan. You're too young for this. This This like actively hurts to see. You You could have so much potential. You have no idea with your income, with. your brains. I got your SAT scores. Like, we collect financial information,

but I got your SAT scores. You're very. smart. Yes. I've been told. But you're the dumbest. mother I've ever met in my life at the. same time. I have now been told that, too. What to do? What to do? So, your spending was $4,464. Great. But again, the QuickTrip income. was $3,301. No surprise, we're missing payments. Balances on that card are going up.

And we're not paying the minimums. Y'all, this is the time to switch to my. favorite high-yield savings account. With SoFi, you can get 4.6% on your. money. I hate when my money is just. losing value, so make sure you're. keeping up with inflation at the very. least. You can also get FDIC insurance. on that money up to $2 million with. them. Plus, they'll give you money up to. $300 when you set up an account with. them. There's even extra perks like.

being able to get paid a couple days. early. SoFi is what I use when I'm. setting money aside, and it is the. banking app of the future. Sign up link. in the description below. I always want. my money to be making more money, so. don't lose money on yours. If you've. ever wanted to see disappointed Caleb. Springer, you have found him. I do also get I get. 200 a month from my my dad. because he never paid child support. And. so, kind of made a new agreement. For. to like. long? Um how long did he not pay? No, no, no.

How long until he doesn't? Until I graduate undergraduate. So, next. May. Not permanent. Okay, so let's include that $300. Um uh $3,950 a month then now comes in. Your debt minimum monthly. What's your. normal car payment? Remind me. Five 565. 565? Yes. What's the normal Discover. payment if you weren't being a dumb not. paying on it? It was like. 35. Oh, what are you are such a little. child. $600 for your debt minimum.

payments. What's your new rent again? 1323. Okay, and you want to be very clear. because I know I've been in like a mood. this episode and I am just like. I really do want you to do well. I. approach these conversations in like a. just a tough love approach, but I also. like to meme on people. This is my sense. of humor and it's also how I like people. to approach me and I really do want you. to do well and I I hope you know that. and that's where we start going into. this and we're gifting you our budgeting. program. It's the best that can be found.

online. There's there's. There's a lot of good things that come. from here. This is the wake-up call and. that's the point of this conversation. This is the point of this channel. Not. an investing channel. I don't know why. people would recommend that, but that's. the point of this and um. I do want you to do better. What's your phone bill? Uh it's I'm on. my parents. Okay, when you start your. own get Helium. It's like 20 bucks a. month, but and your parents to tell you. got it. Well, your water, gas, and. electric, what do you think it's going. to be? I would say all together probably maybe.

100. That's what they gave me estimate. from the complex. Okay, and internet? Have you signed up? I have not. Okay, well you're you're one of those. guys that like like is going to get. fiber for All right. No, absolutely not. I would probably. want good internet though. I'm going to say 50 bucks. Gas, you spent $200, but your location. is going to be changing. Yes. so And. I would say it's.

about 20 miles to school. Just give me. your estimated gas payment. What's it. going to be like 125? No. Probably about 150, I would say. Car insurance is what again? 770 Oh. It's the most [ __ ]. It's the cheapest option I found. The General was going to charge me 11. Yeah, cuz you are 21 with a. no driving history got a sports car like. the dumbest piece of.

$300 for food, $100 for grocery fund. that's anything else you need to. survive. Uh for that your TP fund, sorry. Groceries $300, TP fund $100, anything else you need to survive. Is. there any ongoing medical or gym? Gym's 15. 50? 15. Got to get buff for. the new ladies out there. See, my thing is I'm saying how fat I. can get for the ladies out there. That. you it's that's the way you are now. so good. Dadbod. Yeah, I think we've passed that. And.

your subscriptions giving $0 doesn't. really make sense. Think that's it. Anything else you can think of that you. have to pay for? I'm not including your. school fees. I should, but I'm not. I. I think that's it as well. I'm only. 90% interested in getting fit for the. ladies. I I really have only used the gym to. play basketball. That sounds fun. I like tennis. I'd love to I'd love to.

have a workout routine, but I feel like. if I go in there and just do. random things, I would look like an. idiot and make no progress. Um. uh you know, I think that's my fear, too. Uh if you have a friend, I think. that can be helpful. A friend to go to. the gym with who's like a little more. well-known. But also, I really I think. people just focus on their own thing. Yeah. People are recording themselves in. gyms these days. I mean, they're just so. hyper-focused on their own thing. Just. go look like a dump cuz after a while, you won't anymore. That's true. Or just. watch a couple things on YouTube as. well. The site is free. $3,408.

Maybe we'll talk about your potential. workout routine in the post show. That'd. be great. From Noah because I I can't help with. that. Actually, I do like lifting. That. what is this show is getting off the. rails. Save that for the post show. $542. is what you have left over cuz what you. need to survive is $3,408 on a monthly. basis. You could you should have more left. over, but your car insurance is uh. the dumbest thing I've ever seen, and. your rent is too expensive. Okay.

But, with that, my friend, here is my. diagnosis and prescription. Discover. Pay that off in 2 months. Easy. That's done. Car. Huh. You're not going to do this, but. this I literally only give the. recommendations that I would do. I. pulled myself out of really bad debt, worse debt than you. Mhm. And this is. what I would do. Sell the car. Borrow the four $5,000 you need. Get a.

$7,000 car as well. So, then we have a. $12,000 loan at an interest rate you're. a 600 credit score, maybe like a 20% it. [ __ ] sucks. But, that's $12,000 to. pay off as quick as possible versus. $20,000 to just save your eight uh self. $8,000 and potential interest as well. So, with this. Mhm. I would also be working as many hours as. you can try to get that as high as you. can, but. I've worked I've been working 65, 70. recently. Okay, cuz it still takes.

almost 4 years to pay off that, which is. beyond bad, and you're going to be deep. in law school, and this is like you're. not going to be working as much while. you're in law school, if any, cuz that's basically a full-time job. So, this is. What is. Wait a second. No, cuz you're going to. sell this car, you're going to get a. stupid just basic sedan or just even an. SUV, whatever. Your car insurance is. going to be so much cheaper, and that's. going to allow you more I think you can. pay this off in a year and a half. because your your car insurance should.

be minimum half the cost cuz you're not. being a dumb. Um. Do you have any arrests, any tickets, any car crashes? I don't. Okay, so yes, I it's your sports car, clearly, at your. age. So, like No, no, no, you're going. to have so much more money to throw at. this. This is great. So, I would 100% do. this because in a year and a half, basically, that car payment's completely gone, now. looped up in your beater, and your Discover is completely gone. And then, so actually, after graduation,

what I would do is this. When your gap. two full semesters. That's what 1 year. is. Yeah. Um I would do that so that you. aren't you don't get Well, in case you. You could get Something bad happens and. you just can't afford anything and like. you're not getting approved for extra. loans or grants or whatever. Also, apply. for as many scholarships and grants as. you can. You're smart, you know how to. do it, do it. Um but what that 1 year does is gives. you that First of all, if you go right. into law school, all of a sudden that 6. months that you have left to pay off the. car or the personal loan in that case, which is making up for the car,

um you're not going to have time to. work. And that's just going to be. extended and it's just still more. minimum monthly payments than you can. afford. So, you'll just be borrowing to. pay those minimum payments and it just. gets bad. You've made the choices you. are now. You've made adult choices that. were stupid and you're dealing with the. consequences now. The consequence is. that your dream of going to law school. is going to take 1 extra year. That's. fine. You're still going into law school. at 20. 2 and 1/2, 23. Like, "Oh my gosh, oh no. We're making lawyer money at 26. That's. terrible. That's crazy." Or I don't know.

how long it takes to make lawyer money. cuz I know you got to you eat for a bit, right? But either way, and then you got. you don't get straight into the real. Yeah, but either way, you're going to be. making decent money by 30, which is. incredible. You're already making decent. money now, but you're going to be making. great money by then. That's fantastic. And then you're going to aggressively. pay off the loans. And then at that. point, you're going to be catching up on. retirement as quick as possible, you. know, And that's where the exciting stuff is. Like, I love buying stocks through. Moomoo. I love my.

solo 401k and. all that crap through Fidelity. There's. a lot of great things. That's where the. exciting part of the conversation really. goes, but we're not there yet. And what. really Here's what terrifies me, let's. be honest. I don't think you're going to. sell your car, and there's there's no. way it's going to even. Okay, this is what I think is actually. going to happen. And I'm sorry to doubt. you so much, but I mean, just this based. on this conversation, come on. You're going to continue accumulating. student loans. Your car is going to just not get paid.

off, you're going to be doing You're not. even going to be paying your minimum. monthly payments on that credit card. You're going to be going into. um. uh law school, borrowing all these. hundreds of thousands of dollars. You're. not going to have any money to make your. minimum monthly payments on all of the. loans you've accumulated, because you. spent all your money. And. now you won't have an income at that. point. And you're going to be in such a. bad spot where you might even drop out. with all these loans. You're going to. end You're just going to be You're going. to be working into your late years just.

to pay off the. minimum monthly payment that you didn't. pay 5 months ago, and it's just going to. be this. reoccurring. terrible process that is crap. And we've seen these people that are in. successful careers, who are smart. people, that have just been dumb their. finances, and it's just it's going to. It's going to ruin your life, man. And. that's not what I want to see. You're. young, you're smart, you have the. ability to live a good life, but you are. not living that good life right now. I think that the.

the car is hard. It'd be hard to let go. I built a relationship with it. Buddy, you're already getting over one. relationship, you can get over the. second one. I'm not over that I'm not. Let me make. that clear. I would take one one at a time. This isn't the. TLC show with the strangest addictions. You're not. making love to that car. You can get rid. of it, dude. You can get rid of it.

If you're still watching and you've seen. that episode, it's very weird. Let me. know in the descrip- comments below. No. All right. Let's get your Hammer. Financial score. Well, one thing I. wanted to mention about the student. loans is that they. could have been non-existent if I I was. offered from through my high school into. the community college free tuition. for just graduating high school and. going straight into the community. college, but.

my first semester I ended up withdrawing. from all my classes and that voided my. So, you did go to community college. though? I did. That's where you Okay, and you were getting free That's where. you are now? Yes. You're getting your. bachelor degree from the community. college? Well, I'm I'm getting I have. most of the credits that will transfer. Um When are you going to the university? I would have to in the fall. And only. for 1 year? Yes. Okay. Why'd you drop. out? It was. I had a lot of mental things going on at.

the time and I it. I could have still kept up with my. classes, but I essentially tried to. preserve my. mental space. What was going on? Just lost uh it was I was super. I guess disappointed in the fact that I. wasn't in community college cuz I was. going to Texas A&M. Oh, oh, okay. Until. uh it was COVID. It was the year it was. 2020 and they were going to have us pay.

full they give you a full loan for. housing, but there was no in-person. classes. It was all going to be online. from the dorm. Was your housing covered. through this program? No. Oh, okay. So, I thought that would be a. dumb decision. Aren't you living at home though? It's. community college. I was. So, But going if I went to Texas A&M like I. pre- originally planned. Well, why would. you have if college was free? I mean. the saddest people in life are the ones. who like grasp onto the college they. went to Like they're never able to move. on and that's the highlight of their.

lives, meaning the remaining decades of. their lives are just sad and depressing. That's true. Like who gives It's a place where I mean. it's Okay, Texas A&M has a disappointing. football team anyway, so it doesn't even. matter. Like. Okay, but but that's your feeling. Yeah. I'm not going to invalidate it. Uh. actually no, it is stupid, but that's. okay. Cuz community college is great and more. people need to know that, but. I've realized now. So what did So you I ended up going to. community college and that's what you. dropped out of for a second? Yes, so I started at community college.

and I had about six classes. I saw that. my. grades were falling behind and I knew. that if those ended up on my record, that it would be really hard trying to. transfer out of the community college. into a good school to have a solid like. school on my degree. So I just withdrew from them so that. they would be the grades would be. redacted basically from the record. And that that voided my eligibility for. the free tuition. But you're back in and now you have to. pay for it because of that? Yes, and.

that's what the loans. are for. Spending your budget is ridiculous. You're not making your payments on your. car, so your spending your budget has to. be a zero. I mean, people hate it when I. say it's a zero out of 10, but I think. this is going to be a zero. I mean, just. look at these. I mean, you have nothing. in your debts you're not paying. So I. mean, I'm sorry. Sorry. We ain't going. to complain about it, but zero out of 10. is your hammer financial score. Uh make sure to stick around for the. post show. We'll dig into some more. stuff and it'll be fun and check out the. links in the description below. These. are the resources that I use or would. use in specific situations including the. best budgeting program in the history of.

the internet. Today on the financial audit post show. So Noah, I hear that our boy Ian over. here likes to [ __ ] his car. Oh boy. Well, we're really diving in. For people. like you, you're just being a dumb. You. were just being a dumb piece of stupid. To watch the financial audit post show, click the join button below. Make sure. to check out the link in the description. below to get 35% off select LLC plans. from Taylor Brands.