Couple Is Going To Die In Poverty| Financial Audit

hi my name is jessalyn Rollins and I'm. 21 years old hi my name is Brandon. Rollins and I. am years old and we are from. so what do you do for a living. um nothing currently I'm a stay-at-home. mom and then side hustles doordash and. Uber okay and what do you do I am a car. salesman car salesman awesome and so. you're bringing in the most monies I'm. assuming into the mind so what do you. bring in on a monthly basis on average I.

assume there's a lot of well there is a. lot of commission yeah it is all. commission based so um. I guess year to date it sits at it's. like 49 918. um. I like how you say like and then it's a. very exact number yeah we just looked at. it yesterday so. like 49 918 and we were about to. complete the fifth month of the year. right so divide that by five so you're. bringing in about 10 000 bucks a month. essentially we'll just give you the. benefit of the Roundup.

how does that do you feel that's about. right yeah uh I think I did 117 and some. change last year and I think it ended up. being like 99 and some change overall so. very good and what do you bring in on a. monthly basis with the side hustles uh. gross about 500 a month and then I would. say like after gas us. I'm probably like 400 a week. yeah you said 500 a month and then you. went to oh 500 a week is what I meant. sorry oh and that's yeah pretty standard.

is what you're getting oh very good so. 400. so we're bringing an extra. 1700 bucks a month on average from that. then yours is post tax or pre-tax it. that would be pre-tax pre-tax okay and. then you're gonna get a heavy yeah it. ends up being about 30 overall so 30 of. 9900 yeah that'd be like 990 times three. I think that would be like. 29.70 minus nine nine ninety.

I'm sorry I think I lost you there for. well ten percent it'd be 7 000 after tax. if you do 30 my tax is roughly about. three percent oh yes okay about seven. Grand so in total for household income. that hits the account we're seeing just. about eight thousand seven hundred. thirty three. that's close yeah okay and to know I've. only been doing doordash and instacart.

for like probably two months. um what did you started because we hit a. slow period. um right before tax season no one wanted. to spend their money on cars is what I'm. guessing so we didn't do as great. um and because it split up the way it. split up we get a really big check the. first half of the month and in the. second half it's like really small. um just the way like the spiffs and the. commission hits. um so the end of February it was like a. really dry financially if you would. um and so that's kind of why I explored.

doordash I've been doing it on and off. for like four years so I have experience. but I just like to do it when we need. cash okay now watch me who wants to walk. me through the financial situation and. give ourselves a household score zero. out of ten. who wants to do it I I mean I'll say it. I guess realistically I'd probably say. it's about a two to three yeah I was. trying to say three for sure. we were doing all right there towards. the end of 2022 I haven't had a good.

chunk of money I I tell you what uh the. econometer is kind of the bed what about. the economy affected you just the. interest rates Rising most people don't. generally buy cars when interesting so. it's the car sales correct basically I. get paid like per car essentially. um which if not a lot of people are. buying typically what I get is. um. per car but if you sell x amount of cars. you get additional amount of money right. so not hitting the extra amount of cars.

I'm used to hitting obviously cuts down. the amount I think I only brought home. like forty two hundred dollars in March. which barely even that's that's pre-tax. so that wasn't even after tax so in. order to get to that 49 000 that you've. made this year so far when did things. start picking up. um it was actually the best months were. January and February and at the end of. February coming into March it just slow. has it been slow since March yeah it's. been it's crap so we can't project ten. thousand dollars a month can we oh so.

that's the worst part because it's. commission so yeah I get paid if no. one's buying a car then I don't make any. money per se well you do you mean well. it's an hourly rate but what's the. hourly rate oh it's terrible ten dollars. an hour yeah no it's ten Missouri's 12. Now isn't it I think oh minimum hourly. so like you clock in in the morning you. clock out so essentially it's whatever's. greater so if I work I work right 65. hours a week right. um so 65 hours times 10 and then per. week if I sell more cars and make more. money then I get that if I don't sell.

cars then I get that essentially so is. the main struggle that. income was coming down but lifestyle. sustained yeah essentially it's not even. lifestyle it's the minimum payments we. have to make because so it's the. lifestyle you've been into and then just. trying to why'd you go why have you guys. gone into so much debt. um let's see we got. moved into the apartment last May well. let's just say Okay so. I'd say oh goodness.

um last spring we got to we started. dating. um and then we moved in last spring. correct okay we've moved quick yeah yeah. all right. um and I so we actually I guess. backtrack even further we met selling. cars together. um I initially was selling cars and. um then I we I got pregnant we started. dating. um eventually got hot and Car Sales was. hot in the summer and I don't want to be. big and Pregnant out there trying to. sell this Wrangler and so I ended up.

quitting which was kind of a dumb. decision looking back because they had. six weeks of maternity leave guaranteed. and they offered to move me to a. different position that was hourly based. inside all the time have you tried to. get a job back or do you just not want. to work right now. from my understanding they will not hire. her back because she is my wife now. we're married that's fair but the. experience taken to another dealership. it's the hours of car sales too I mean. like he works 60 hours we say 50 60. I.

probably average 277 a month whatever. that comes to so is your main thing. wanting to be home for the kid yeah okay. so and then working the hours you want. to work and that's why you do it that's. right instacart and doordash comes in. and if Instagram's watching I don't but. why do we get into the debt. [Music]. different car. so what happened was uh we were dating. we ended up getting a car in April. um. probably spent way too much money it had.

all this stuff you do that you're the. car salesman why would you guys do this. because car salesman and people salesmen. in general are the easiest to sell to. you said it yourself. um. bought the car it was everything we. hoped and dream and realistically buying. something new at that time was way more. realistic than buying something used. anything with 30 to 40 000 miles was the. same price as buying a new car yeah and. obviously I get a certain percentage off. the car because I'm an employee of it so. we bought a brand new one you know. thinking we'd and I mean it's manageable.

at the time being we've just been a. crapload of money on it. um we got a phenomenal rate though I'll. say and it's also right uh 4.29 okay. phenomenal I don't know but it's an okay. right that's offered 3.29 and I took 4.2. to go out an extra year in terms to get. the payment under a thousand dollars a. month. but the because I had no trade under a. thousand we were just trying to get. under a thousand yeah thousands crazy. but when you have oh I mean well what.

nothing nothing okay I'm not gonna go. there because like if you're doing it. based on the like the the 50 is like. your needs and then technically that. it's a need it falls in that category 50. of 10 000 is five so I mean it's in. there yeah we've already decided 8733. after taxes and we can't even project. off of that because sales are going down. yeah you sound so please yes if I can. sell you on anything today let me sell. you on hitting that subscribe button. because we're trying to get the 500 000. subscribers I'm just close.

you sold yourself into cars. oh okay okay okay okay well let's just. let's just look into where things are. I'm gonna start with the debt so we can. just get into things we have a medical. loan was this the baby being born yes. yeah. it's expensive to exist but that is even. but that is even after. um my mom has great Insurance. um his insurance for her is not so good. and so that's even after like I think.

all together was 26 000. um just to have her in the hospital we. didn't even stay the extra night they. wanted us to we went home early. um I had no complications you know. it was the smoothest pregnancy and. delivery you could ever have and it. still costs almost thirty thousand. dollars. birth yeah sorry that's why I didn't use. certain words for you because I knew. you know cute PJ but. well. we have we still owe a thousand six. hundred three hundred thousand three way.

and that's not all of it because there's. still money sitting on the my Mercy. account that I haven't transitioned to. the loan yet why because um I'm waiting. for his insurance so it's assuming what. they're gonna pay so one thousand three. hundred sixty eight dollars is what's on. there what is it actually though what's. the real number there's another 1800. sitting in my Mercy. to say. all right so this is a love. definitely.

3168 actually it's not well I mean but. it's the first I'm gonna triple check. that that's correct with a 65 minimum. monthly payment it's only 1500. a few. details. 65 minimum monthly payment but that will. go up. it's estimating another 83 dollars a. month to finance the rest extra. but you can't because it would be above. the credit limit you only have available. through the bank I've had my entire. life's Commerce so are they going to.

increase it yeah for sure. I'm confident. okay shout out to Commerce. yeah and it's gonna increase it by an. extra 85. 85 a month yeah so it'll be 60. plus 85 just to do round. it's gonna be about. so it's gonna be 150 a month geez just. in medical what's the interest on this. thing. um it's zero percent. good okay so that's good because you're. present for how long though forever. because it's um my Mercy or Mercy in.

general is the non-profit hospital and. then they sell the debt to Commerce is. what how I imagine it going. um and so they don't do interest on it. now we have a Commerce Credit Card yeah. there is interest charge on this so we. had a previous balance 647 dollars but. we paid thirty dollars towards it which. was just the minimum monthly payment but. then we purchased an extra hundred. dollars why are we purchasing extra. money on a card that we're probably. trying to pay off. I mean ideally we'd like to pay.

everything off. um but like we stated before cost of. living and how much money was coming in. is kind of like the only way to survive. at that point in time it was going into. debt we're gonna have to take a look at. every single little thing for context by. the end but and then I have it set up to. where you're not going to like this but. if my checking account overdrafts it the. original fetal charge is 35 okay but if. you have the credit card you can pull. like the cash advance from the credit. card and I have it set up to pull fifty.

dollars and send it to my checking so I. don't pay the 35. I only pay 10. because. it's through the credit card so I'm. saving 25 dollars if I overdraft yeah. and then you're still losing interest. and you just lost twenty dollars in. twenty dollars in fees as well yeah you. have a fee and you're losing interest on. this yeah it's the interest yeah it's. cash advance as well come on okay let's. keep going we need to see what this. whole debt situation looks like Venture.

oh. that Capital One it's gonna get better. we're purchasing we're purchasing 2009. uh 2 900 on this thing yeah when. purchasing we made a minimum monthly. payment we're purchasing 46 dollars of. purchases that's you that's Banks that's. his energy drink six dollars there's no.

way I spent 46. . you'd be surprised so this is a zero. percent right yes I think. 18 months from June of last year so okay. so that'll be coming up relatively like. december-ish. these are reoccurring Apple bills look. like apple purchase Apple purchase Apple. purchase I don't know they're just Apple. I can't see what they are but there are. three apples they're reoccurring um. subscriptions we've since changed that. wallet and then every month I thought I. changed it and evidently it didn't.

freaking change so now it doesn't do it. that what that's pulling is the Apple. music family and then his Apple Care. pulls through that credit card somehow. ah okay. then we have a Chase yep that one's. small this is yeah that's the baby one. the baby one even though I'm. still I want to say it's 24 interest. and I it's I don't remember. well it only went up because we made. zero payments and we've done forty.

dollars of purchases. and we lost so we got 30 of fees. yeah the ones I sent you were all the. really bad ones because we it was right. the 30 days was right when I reached out. and everything so. but 80 minimum monthly payments I mean. these are just gonna start stacking up. yeah now these or what do we even buy. Market at work Market at work what's. that oh that's uh lunch come on pack a.

lunch dude pack a lunch you work from. home make a lunch yeah I know I need to. do better. no I mostly blame you for not packing my. lunch because you can take care of. yourself absolutely take the I'll take. the blame for that absolutely. City I'll say to that too over the last. month and a half we moved out of our. apartment so we're kind of like in a. position too where there's not a whole. lot of space to be able to keep stuff. I mean I guess we'll talk about it we'll. talk about it we need to set the.

foundation for context first. so okay again this went off we've made. no payment on the city we made 258. dollars of purchases bringing it from. 4752 to 5. 000 39. I know and that's so sad because. as you see we we had made some progress. and I paid like 300 off of it which to. me not on this statement but yeah hold. the 4700 was you know oh my goodness and. after pay so we're financing a financing. we're financing a financing.

yeah I mean I guess. what do you mean you guessed that's. absolutely financing of Finance it was. Lush I bought stuff okay but you after. paid it and now you're and then you're. financing that with a credit card and. then there's another after pay then Brew. then Culver's highlight cover wait but. that's Culver's Republic what's that. says something different than Culver's. or is that in Republic yeah okay I do. love Converse but still you can't afford. Converse right now.

work I know that's you that's with the. coupon I don't give coupon I don't care. sorry cover your ears infant she's good. what are you laughing about a late fee. for we can't be laughing about late fees. do we find Lacey's funny. no it's kind of like come on think about. okay the way I see it is it's not all.

the way 30 days past due because my my. breaking point is if it hits my credit. you know because it's like dude you're. losing money you're losing money. financing a financing you're losing. money. is this a joke this can't be a joke I. mean it's not think about your guys's. future you've only been uh like together. like in your lives romantically for a. year and we have an infant that we want. a better life for we can not be laughing. about late fees yeah I understand. and we cannot be financing Lush and then.

financing that financing I didn't even. know I did that which is so well you did. it twice yeah. there's more okay Blue Cash. what's that it's everyday American. Express. sixty dollars of payments and then 190. 9 paid off beginning of February yeah it. was completely paid off it only has a. thousand dollar credit limit. it's basically maxed out it's maxed out.

yeah it's sitting it was actually maxed. out and then I made a payment it's at 8. 57 right now. got 134 ish dollars. available credit. monthly payment. you guys are killing yourselves with. this and it's interest-free for now. won't be forever. new charges what are we doing Apple pay. for something come and go is that a car.

work or is that it's a gas station it's. a gas station okay. Roku we do not need to be doing that. High V I don't know what that is that's. a grocery okay Amazon Prime definitely. don't need to do that. is there more there's more okay discover. dude you guys have opened every credit. card that's ever existed. yeah oh no I actually got one sent to me. in the mail the other day and I was like. I don't need another one I already have. no that's all they get you I threw it.

away but I was like you're benefiting. nothing from these so don't even think. about it I did think 3600 wait can I. have a serious question because my. thought process hear me out was that my. utilization right now is like probably. like 94 96 okay and that's God awful. don't get me wrong but if I open another. credit card technically it would expect. no I don't give a [ __ ] about your. utilization you're thinking about your. credit score I don't care about your. credit score at this point I'm thinking. about the money that you are digging out. of a hole that you are throwing. yourselves.

I know you're young to the world of. adulting yeah 21 so I understand it. but we cannot you're just going further. into a hole if you do that you're just. thinking about your credit score I don't. give Roger credit score. I don't care. you're just gonna get yourself into more. debt on all these maxed out credit cards. and then it's even further to hold the. dick out of now what we can talk about. is a credit card consolidation but even. there then I feel like you're just gonna. max out these credit cards again no. because I we've looked into it so I've.

spoken to a bunch of different of those. like Financial groups or those financial. partners that say. um like debt consolidation or what's it. actually called the national debt relief. no I wouldn't go through. um reach Financial is actually the bank. that though that they were going to send. us through. um and they were gonna you're looking at. a program yeah and every program. imaginable we don't qualify for. consolidation loans because what you. might consult uh we'll get there we'll. get the worst okay in the foundation. okay either way thirty dollars of fees.

and 83.9 cents of Interest you're losing. on this so over a hundred dollars is. taken away from you because you want to. have a credit card okay thank goodness. there's no more things to swipe on so. that's our debt right no no. [Music]. so I should have gotten a statement for. TD Bank. that's a credit card slash fernet that's. a credit card slash Furniture loan. I don't know if I sent that or not. um I can pull it up real fast so what is. it uh the TD Bank Furniture loan is.

2500 uh 2524 with a zero percent. interest until. [Music]. those three years I think 36 3 or 36. how long have we been in it just just. over a year yeah so two years with the. minimum monthly payment on this thing. like one third one fifty. there you go like 125 150. guys you're. addicted to debt what other debts. um I have we have an affirm loan I have. three affirm loans currently.

how long do they last okay the one the. big one that we've had since um what was. it September of last year was our Rings. we financed our wedding rings. um the only reason we did it was because. it was zero percent just like borrowing. your money spreading over the payments. over that I get that but at this point. your minimum monthly payments are just. stacking up so much when we do it that. way instead of just buying things zero. percent okay this is this is how zero. percent financing works if you if we're.

going to be financially literate about. it you can zero percent Finance. something if everything you were going. to throw at it you're investing instead. let me guess you were not investing the. rest you're just spreading out the. payments and then the rest of the money. that would be going towards it instead. is less because you know minimum monthly. payments you're just throwing up. correct yeah okay then zero percent. financing makes no sense perfect you. only do it when you're throwing the. total amount that you would do at it.

towards investing. so like say for example like we financed. the like four thousand two hundred. dollars is how much we Finance so we. would take that forty two hundred. dollars and apply it to like you. invested instead 500 is that like what. you mean or like what well I don't give. investing advice but we would invest it. in stuff well I mean I'm not asking for. I mean like as an example like so I can. clarify like what you're like sure I. would put it in my retirement portfolios. but even still I don't know if I want. that for you guys anyway because this is. you guys aren't in that place.

financially. but that's what I'm saying but I. wouldn't like do that for you guys. anyway but for someone who's like really. stringent about their finances and likes. to manipulate every single little thing. but I mean okay. okay so the minimum payment is 400 for. the Rings and then wait what's the. balance on the ring actually it's almost. paid off it's like yeah like I only owe. 830 to affirm and the minimum is uh 400.

and then I have the other one two I. affirmed two Amazon purchases and they. were both like a hundred dollars so. they're each like the like four points. um let me. let me just say all together I know it's. under nine hundred dollars. um. did you like uh got to adulthood and. you're like I'm gonna get it no that's. not even what happened so I bought my. first I got my first credit card when I. was 18 years old which was the Commerce.

one through my checking account I've had. since I was actually 16 and then I got a. discover. um travel card because I wanted to. travel a lot. um and so those are the two cards I had. and when I actually met him they were. both paid off my credit score was 748. um and that's how I was able to get the. 60 000 car that we drive. um but. uh I mean. we got together and then he kind of how. much soda on this Amazon how much is it. on this Amazon. okay there's 53 on one left and then 120.

on the other so all together like 170. and just the Amazon and then the loan. for the Rings is like almost paid off we. owe it's like eight forty six seventy. one for just the Rings nice. yeah and then the way you've been doing. things you pay that off you go get into. another debt so no and that's what I. don't know I'm only seeing examples so. what is the car. 2022 Grand Cherokee L Overland ah and.

the what's owed on it currently 57 891. and I drive a 2018 Kia Stinger. what's out on that uh I believe it's 26. 850. interest rate on Jeep. 4.24 that's right. interested in Kia oh uh was it. I'll just re refinance the last mortgage.

I think it's 11.51 minimum monthly. payment I see on the Jeep is 920 a month. death in the key of 525 dollars a month. you guys are killing yourselves you guys. are murdering yourselves did I miss. anything else. yeah um child support you have child. support so you have another kid yes okay. oh. technically our phones are dead they're. financed.

mine is and her iPad's financed. and my Apple watch child support will. just put into your budget. yeah cause that comes out of his. paychecks it's out of the gross. percentage. so did you calculate that into your 30. percent. what do you mean remember we took away. 30 to get your take home so it I know. it's it's not taken off my actual tax. income it's after tax so if that makes. any sense okay okay so it's a percentage. of My overall amount that gets taken out.

per paycheck. what else credit cards anything I see an. apple thing on your email. what's this apple thing oh we have an. Apple credit card we haven't talked. about it yet have we oh no no. [Music]. okay the balance is. 7988 dollars. and the credit limit's eight thousand. what's the minimum monthly payment 255. dollars. what's the interest rate. 9.4 dude.

I'm so scared the highest balance of. Interest too so every month we pay. 171 in interest on top of like it adds. to the like the limit of the credit card. after I pay the 252. so really. I'm only paying like less than a hundred. dollars a month towards the principal of. the Apple yeah so that we hit everything. mobile.

I'm looking at the email we can't. survive like this anymore we need you. Caleb damn right this is this is a mess. this is insanity. and obviously I never thought you'd. actually reach back out to me but like I. mean I think you know they say like in. like AAA and stuff like remitting you. need help is the first step so I'm. admitting to you we have a serious issue. serious issue and and we're just. financially illiterate I would say. I say I'm financially inexperienced. almost too.

adds to it as well absolutely and you're. pretty much financially. right now but guys this is all consumer. well except for the little medical debt. so taking away the medical debt this is. all consumer bull crap debt and we're at. a hundred twenty thousand dollars a. hundred twenty thousand dollars of. consumer death both higher interest rate. for the most part death this is the.

worst I have ever seen ever seen in. terms of Consumer Debt. I. would be honestly relatively ashamed of. that number. to be very clear. that is a road that no one should ever. go down and this is something you guys. need to turn around ASAP or the future. is not a future. I'm just being as real and honest as. possible.

so. what do you have in retirement uh it's. like 17 851 dollars. what do you have in retirement I don't. have a retirement so for a household we. have seventeen thousand dollars saved. for retirement but I also have like a. cash value like life insurance policy my. mom's been paying in since I was a baby. um it's cash values only seventeen. hundred dollars though. so and then I opened one for Myla um our. daughter which I don't even think it has.

a cash value at this point I mean she's. only been not even a year old so so let. me tell you how the future looks this is. how it looks if we do not change things. around drastically and this is going to. be brutal but it's reality and you need. to know. in this situation we continue down this. endless debt we refinance if we pay. something off we get into bad car debt. we make minimum monthly payments our. livelihood and we start to fall behind. because the car market fluctuates here.

and there the economy fluctuates here. and there we continue down this path we. don't ever get to a place where we have. a good retirement because by 32 we have. seventeen thousand dollars and that's. all to our name we go down that path. forever and then by the time you are. ready to retire or by the time you are. no longer able to work you have nothing. saved up and the child over there is. forced to take care of each of you. each of you. going into Consumer Debt like this is.

irresponsible as a parent now a lot of. this some of this was before that so. I'm you know we can't be like okay that. was irresponsible as a parent but we can. say. after this talk anything you go into. after this is actively choosing to be an. irresponsible parent and have your kid. take care of you when you retire. [Music]. do we understand that absolutely.

yes what's our thoughts. I know it's hard to hear but it's. reality. realistically I guess that's why we're. here yeah and I think that like. um like us becoming more like. financially educated we can obviously. pass that education on to her you know. throughout her life and not pass down. these bad spending habits that we. clearly have. um it's a bad dad habits too honestly. yeah I don't well let's look at the. checking account because a checking. account because you weren't like. spending insane amount of money on these.

cards we just so what happened was we. racked up the balances and then they've. just sat like that for the past like. what'd you say six seven months yeah we. got them in June. um and then we had a lot of stuff that. we ended up having to pay a lot of money. for so we use the cards to do it like um. the sales tax on a car that a car loan. that I was on. um we paid for that and then so that's. still sitting on the Apple card and you. were trying from your savings to pay.

bills yeah yeah. current savings what is the total. balance like I cannot right now we have. fifty dollars. we went from two thousand dollars to. fifty dollars and part of that is. um. um currently getting ready to move into. a new place so the majority of that. money that was in the savings we use for. the deposit to move in so that's where. that was at and then that was prior to. you know that was like March March.

building a new house and so it was. supposed to be ready in the middle of. May so we put our deposit down to move. in. um and then obviously had the probably. the month and. car industry and it just went downhill. from there. checking account. um. currently like three hundred dollars. well in the checking account I'm just. looking at you we have lots of PayPal. stuff. yeah I'd like well he sometimes we'll.

send money back and forth to each other. like venmo. um. foreign. to be clear the Meltdown some other. things and venmoing out and some stuff. now to each other that's off the table. that's done we don't eat out once once. for what is likely going to be a long. time. what. I don't even think it's like the. Indulgence of the food it's the.

convenience of it is but the convenience. of not having debt outweighs that agreed. Wendy's tough yeah we love some Wendy's. yeah dude they have great nuggies I get. it yeah. especially when you've been you know. you're working all day and then you get. home at 8 30 9 o'clock tonight and then. you're just. beat from being there for 11 12 hours. it's just convenience at that point I'm. you're checking accounts I get it but on.

your checking account not every coming. goes gas you're going into the. convenience store correct I can see it. not every single one usually it ends up. being about six six dollars. so that needs to stop. you no that's not all him nail and spa. and just all the stuff in Qdoba and Taco. Bell. yeah and right now there's no money on. Corona no money on after pay it's just. no firm good stop okay here's how you.

guys are gonna start everything comes to. the checking account okay yeah so we. want to do the joint one we have a joint. um yes it is time Capital One that I. sent you has like a dollar in it right. now yeah. um right now his paycheck I get 75 he. gets 25 just because like most of the. bills were in my name. um we're not splitting things anymore if. we're gonna do this and we're actually. thinking about the future think about it. you guys aren't married right yeah okay. yeah think about the future. together going forward raising a kid.

being set up for future maybe having. more kids all these things yeah also. Arby's Arby's and and El Charro and. chipotle and stuff in the shared. checking account so this is at this. point it doesn't even matter look like. look at I don't care at this point. we are combining checking account all. the money's going in there we're not. splitting up percentages all the money's. going in there in the monthly bills are. just being taken out of there you guys. are a single unit when it comes to money. it's not individual spending single unit. what.

nothing I don't care about percentages. it's no longer your money is no longer. your money it's our Collective household. money and you attack Things based on. that. we pay the bill. what's rent what's new rent uh 1045. [Music]. which is very good for the area well not. for the area we're in but like for the. okay 1045 I was here in a thousand four. hundred fifty. no but yeah a thousand bucks is okay.

utilities total internet Gas Electric. I don't know what Like Water and. Electric will be I mean we were paying. for about the same square footage about. a hundred dollars 110 a month for. utilities that included Water and. Electric and that was your internet. set up yet but that's who he wanted to. go it's gonna be about 200 for utilities. okay so 200 for utilities now. from there. the debts we got to calculate these.

minimum monthly expenses. would we calculate what'd you get what's. your minimum of the expenses for debts. all debts 37. for per month it would be 650 for that's. for just the credit cards no no all. that's all of it together like all but. that's just all of our spending babe. well we did it yesterday it was like. 37.98 I think is what it came to all. right we have to make a minimum of 37.98.

dessert I don't see. it if you see it tell me uh because like. these are all the ad I added all those. together. they're all separate sections because I. did like our disposable income and. everything it's okay I got it. 27.94. I think when I added it up in the email. I sent you it was like 3 500 so I don't. know what I'm missing unless we're. missing any debts Insurance yep what are.

the car insurance is on a monthly basis. uh three thirty five yeah for both yeah. for both of us. okay. household budget for food one two infant. we are going to do 500. does that well never mind that works. yeah then for toilet paper household. diapers the expensive one and all that. stuff we're doing 200. that's.

unreasonable per month per month yeah. yeah that's fine. we spend 170 at Target yeah okay. [Music]. other minimum monthly expenses. health insurance your parents right then. you're out of words out of my paycheck. and then I'm I mean I pay for her life. insurance and my life insurance which is. 45 a month.

and then yours comes out of your check. right your policy yeah everything comes. out. and then child support that's a. percentage of the income right that's. not a fixed amount yep. yep it's 485 but. um just found out about it so we're. trying to catch up to make it go down. child support. jeez guys. do we follow a very strict budget. [Music].

now what I've written down is what you. guys are doing. gas month of gas both combined 500. [Music]. maybe more considering doordash and. everything in the car we'll calculate. that from uh we'll take that away from. your door Dash and come and you'll write. that off your taxes okay. [Music]. okay well I mean all of these we pay for.

what let me see. um so we have AppleCare Apple music. family. um Apple music is canceled I have a. Car Wash memberships canceled. YMCA did you guys actually go yeah I use. it sometimes and mainly we paid that. much because sometimes. three times a month no canceled okay. okay three times a month no we're not. paying a gym membership for three times. a month okay if you go there three times. a week because it includes the child. care because we it's it's two hours um.

per day that they're open you can leave. your child there and go spend time yeah. it's maxed out at two hours. it's a little weird just it's because. their resources are limited rocket money. is good we're keeping that canceling. Disney plus okay so YMCA will put in oh. and then I pay for. um what's that thing called the Jeep yep. connected Services connected stuff what. does that do for you um I can start my. car from anywhere in the world okay. that's canceled. that's stupid that's canceled that's so. true.

no it's it's dumb to be paying for in. your situation I mean that's fair yeah. anything else uh siriusxms on a yearly. basis of 110 canceled it doesn't renew. until February of next canceled February. of next year. because this is going to take more than. them to pay off I send 25 to Ace. 5718 to survive on a monthly basis. [Music].

so similar to what you guys had. 67. yeah you're cutting things out we're. cutting things out now what I laid down. is that rent utilities debt insurance. car insurance food 500 toilet paper all. the other households taking care of the. kid 200 a month your life insurance 45. and gas 500 which is crazy uh might be. more. YMCA 72.

AppleCare 27. nothing else nothing else. that's it money doesn't go anywhere else. and you follow that strictly. in a budgeting app rocking money you. already pay for it so budgeting app. followed strictly. so. what do you think income's gonna be. going forward. um I. I don't know I would say I'm probably. gonna average. should be typically Car Sales every year.

increases over time obviously the more. you sell then people come back and buy. cars that's what it's all about. um I'd probably say nine thousand a. month gross. yeah nine to ten gross is what I would. probably estimate. so and then okay so after child support. and everything I'm going to say bringing. in about 7. 000 very conservative yeah I'd probably. say six to seven six to seven then we'll. do six thousand five hundred. is what is coming in total. [Music].

um. yes I would say I mean saying seven. thousand just adding 500. um. from myself okay seven thousand total. that gives us a thousand three hundred. dollars to play with nothing's in. savings if you follow this budget. exactly and of course some up months. will be up months you're gonna work the. moment he gets home your Uber eating you. put the kid in YMCA every single day two. hours your Uber eating or Uber driving. or whatever the hustle is that you can. get whatever second job you can get I.

don't care you're working you're working. you're working maybe you get a second. job as well if she doesn't want to work. it's I don't know but whoever's best to. take care of the kid I think work I. think take care of kid well working come. home take care of kid while working you. guys don't see each other very much. because you've gotten yourself into a. hundred and twenty thousand dollars of. death. debt so. I mean if you just think of a hundred. twenty thousand dollars that's 122. actually it's even a little more because. of the stupid Medical. 122 000 in stupid death debt and then.

interest and you only. divide that by a thousand three hundred. dollars a month that takes 94 months to. pay off 94 months to pay off also known. as eight years but that's not even. calculating interest with interest. 10 12 15 years I don't even know so the. main thing here is we got to increase. income and the thing is you guys. actually do not have a bad income so you. are working this comes down to you or.

maybe you get a second job I don't care. every moment that you're not sleeping or. taking care of the kid you are working. because everything needs to go to this. everything needs to go to this what are. the credit scores we have here. mine my FICO is 6 15. okay I think mine. is like 535. okay so we're probably not. taking out any personal loans to. take care of these. um like a revolving like personal loan. through Credit Karma it's like though.

like they give you like a 500 like limit. and then pay into it nah that's nothing. no no no you're done delete Credit Karma. cut up the credit cards you guys are. done no more debt no I don't care don't. say anything I'm done no more [ __ ]. every time that debt exists the ability. to get that in front of you exists you. take it. you just take it you are not credit card. people and that is perfectly fine but. stop. stop. cut them up you're done.

what we have to do from here is pay. these off small charges what's the Jeep. worth you're a Car Guy what's the Jeep. worth I don't know we've had some wide. ranges yeah I think I'm gonna say upper. 40s low 50s so we're just in the hole. yeah we're I think I could probably get. two to three grand out of my Stinger I I. think my Stingers work worth a little. bit more out of my yeah.

what I would do because that's insane. with a thousand dollar minimum through. payment. with yours I would look at the get what. with your credit score I would you're. selling it yes. I don't give a sh what you don't need a. brand new Jeep Cherokee what Are You. Gonna Roll this is what you're going to. do. if you if you think you can sell it for. fifty thousand dollars I'm gonna try to. get ourselves this is only if you get. approved for the loan yeah I'm what I'm.

not optimistic because I mean like heck. I got denied for PayPal like crediting. like were they financed your things if. you like look on Credit Karma this is. all I'm saying if you look on Credit. Karma they have those like uh guaranteed. loans yeah but I only qualify for like. the cash one see the hardest part of. that is she doesn't technically have. income it's so she can't do now because. his income is hitting my checking that's. part of the reason why we set it up then. we'll split it up that way because I.

also have employment history with the. company so technically it's okay minimum. monthly payments we're saving up it's a. gray area three five save out five. thousand dollars as quick as you can. with the extra thousand three hundred. plus more money that you bring in bring. it there should be extra 2 500 extra on. a monthly basis do that for two months. you have five thousand dollars sell your. Kia put that three thousand dollars you. can pocket in combine that have. eight thousand hours go get a okay eight. thousand hour car I don't give a sh it's.

okay because it's reliable AC doesn't. have to be great but it's okay because. it'll keep you safe absolutely that gets. rid of that stupid 255 minute monthly. payment. I just the reason why I'm not behind. selling the Jeep is because one the. minimum interest rate I'm probably gonna. qualify for now is double digits no I. know what what is killing you though. more than anything right now the main. thing is a thousand dollars is being. squeezed from you on a monthly basis.

because of this and it's making it's. taking away any progress you can put. towards anything that is the killer. minimum to payment by far and what's. crazy is like I mean we paid down to 75. percent of card utilization at the end. of December and then I mean like this. this year has just been took a wicked. down I don't know it's just strange I. think just our our area in general is. just a little bit lacking because I hear. people all around that are they're up. people are buying cars and whatnot I. just think. everyone's a little um hesitant.

I yeah I get it so what we do from there. you do that thing with the Kia you're. just doing the smallest that's the. largest that's you gotta snowball this. thing and they always get rid of minimum. three playments as they go on you just. got to make the money it's hard to throw. out an entire plan because it just. depends on how much income you bring you. just need to bring in income now yeah. and then you're gonna just as if you're. not selling yourself right now but just. sorry yeah just the reason why I I've. looked into the snowball okay and I've.

looked into the Avalanche and all the. methods you can use and like I just hate. to start on the snowball and go from. smallest to largest and let that Apple. just sit there and I'm paying 150 every. month in interest you know no idea. the reason you're doing it is because. all. this is how I think about it if your. debts are all within similar ranges. which they kind of are except for the. cars it makes sense to okay.

let me try to take the smallest amount. and then once it's paid off you just. yeah you like the way the snowball is. working for you is because you're just. getting rid of your minimum monthly. payments you're able to throw that. towards the next thing. Avalanche is great when we have. something that's just insane interest. but you just have so many different. accounts that your minimum monthly. payments are stacking up so much that we. want to attack the minimum monthly. payments first that's fair okay I. understand what you're saying so if. there's like a few if you had like three. different accounts in one head insane. interest a week in avalanche okay I got.

you you have like a million that's kind. of why because a lot of like out of the. eight credit cards or nine um five to. six of them are zero percent interest. and so that's why I didn't know but the. minimum of the payments are still there. and the interest uh free periods are. expiring anyway exactly so it doesn't. even matter we're many monthly payment. until they're paid off really what. matters most here is income the more you. can increase your income the more you. can pay it out and we're not taking out. debt anymore no more debt no more debt. hold each other accountable to that. uh you guys are the first ones doing a.

couple on here. like woo but all just I was accountable. now you have that ability you're doing a. combined budget you guys don't get to. have fun for years paid for fun paid for. fun it doesn't exist we're doing. hand-me-downs for the kids you know. through relatives and stuff like that. don't look. you I'm sorry this is a hard to. hurt situation but the more income you. create I think even if you bring in a.

lot of income this is still going to. take a minimum five years but it'll be. worth it because if you choose the. opposite you're doing this for the rest. of your life you're gonna die in the. Walmart floor the kid's gonna have to. take care of you yeah because you're. gonna have to take care of your retire. so you're really giving yourself in. either or Choice here yeah. years have a pain in the situation keep. each other accountable. and also encourage each other. but it's gonna be hard I I mean I'm real. I'll be honest it's gonna be hard but do. it because the your future matters so.

much more than just the next few years. and then you're gonna invest your butt. off because you need to be able to. retire but that's what it looks like for. me okay well it's hard to lay out a full. plan because you gotta just increase the. income that's a big thing right now. some final thoughts. no thank you yeah. yeah no I appreciate it and I think we. can stick to it for sure for them it's. going to be a really hard long road to. get out of this debt 122 000 Consumer.

Debt. months. the craziest we've seen and I'm I'm. scared for the future they have to. buckle down I apologize for not being. the most optimistic with this episode. but it's hard to be at this point I just. need to increase that income for their. Hammer Financial score spending their. spending wasn't actually like insane and. saying they're spending more money than. they should of course because they. should be paying down the debt but it. wasn't like they're going out the year. every single day two out of 10 debt it. was like I mean a bad zero out of 10. retirement had a little bit going but. obviously way behind two out of ten.

merch is a fun nothing zero out of ten. real estate nothing zero out of ten. aggregate down Hammer Financial score. for the couple one out of ten if you. want a free five dollars sign up for. acorns using the link in the description. below if you use my link you get a free. five dollars and I get a free five. dollars when we all win and don't forget. to follow my Instagram and Twitter. thanks.