E-Girl Struggles To Pay Rent | Financial Audit

My name is Lisa. I'm 22 years old and I. am based in Austin, Texas and this is. financial audit. What do you do for a. living in Austin? I am primarily a. streamer. Okay, streamer on what which. platforms? Twitch. Just Twitch. Twitch. Okay, just Twitch? Just Twitch. And do. you do any of the external platforms. uh. that a lot of Twitch streamers do? I've. tried to, but I haven't really felt the. the motivation or like the the flame. under my kind of.

pushing me to do it. So Yeah. Just. Twitch. I have a TikTok. I have other. things, but it's I really only actively. am putting content out onto Twitch right. now. Okay, I'll put a link in the. description below. Uh so, what do you make right now on a. monthly basis? Um I. don't really look all that much cuz it. kind of gives me a lot of anxiety. But. have bills? I have bills. Like I have enough money. to pay my bills. I would estimate that. on bad months I make. under $2,000, closer to $1,000. On good.

months, $3,000, maybe $4,000. Whoa, but even whoa. Hold on. Okay, 3,000 on a good month. How are we living in Austin? No offense. Like I mean, that's still good. I think. that'd be fantastic cuz I mean, we were. talking beforehand you're from kind of a. small town in the middle of the Midwest. Like $3,000 a month, you can stretch. that pretty far. Yeah. And even when you have your low months. of like a thousand bucks, I mean, we can. still like survive. But I mean, it'd be. hard. It'd be stretching, but like you. know, how are you That's that's just. like that's just sub revenue, I guess.

Like when Twitch pays me out, I mean, you know what I'm saying? I'm not. including like donations on top of that. how much you make. How much do you make? Probably closer to. 2,000, 3,000 on a bad month, 3,000 to. 4,000 on a good month. So, we'll average Well, okay. Give me an. average. So, think of how many bad. months over a year, think of how many. good months, average out what's your. average monthly income. Last year I made just under 50k. Is this year looking similar? Um this.

year because of the long-form stream. I've done, I've made I think 15 to 20k. in the last 2 months. But last year I. also did a subathon and that was. majority of my income. That was like. 1/3, 1/4 of my income. So, I I think. this year my goal is to earn more than. 50k cuz you always want to be earning. more money than the previous year. Right. I think. that I'm going to be earning a little. bit more this year. I hope that. you about $4,000 a month.

Okay, 4,000. Just to not take assumptions. I'm glad. the last 2 months have been good, but. again, you did the big push. Yeah. And. can't always be doing that on this. platform. So, $4,000 a month. And you pay rent here? Do you pay rent? I pay rent. Or do you live with roommates? Uh so, I. just my lease for my old apartment is. ending June 12th. I found a sublease on. Craigslist for 3 months. So, I've been. living there for almost a month. It'll. be ending July 31st and I don't know.

what I'm doing after that. But. paying for that? I am paying $1,200. for that for the past 2 months. a chunk. Yeah. March was free because. they already paid for that rent, but I. had to pay my rent for the other. apartment. Yeah. So, I paid double rent. for this month. And where are you going. in 2 months? I don't know. Well, you got. to We got to start looking now in 2. months. biggest fear is just like living cost of. living. I don't think I can afford to. live by myself. have friends here? I have friends here.

Cuz you've been here for about a year, right? Yes. So, have we thought about your friend, let's. live together and split some rent? talked to some people. Yeah, and how's that gone? Um. still haven't found a person to live. with, but hopefully I will find someone. before July 31st. That's coming up so. quick. Yeah. Okay. Um wow. So, $1,200 for rent. Let's get a idea of.

your financial situation cuz you didn't. send me that many documents, but there. was also more included in our email, so. I'm a bit lost right now. What do you. look like today? What. What's the picture of you financially? So, financially the only sort of loan I. have or I guess you would call it. credit is a car loan. I have a car loan. that I started in 2020. 8.10% APR. and my father is the cosigner and they. want me to refinance because they want.

to get their own car. Oh. Because he they can't get another car. because of my father's name on my car. And I have 44 payments. I'm like not. even halfway through. Mhm. So, I I'm thinking about selling the. car, but I don't know if I should cuz I. also don't have car insurance. What. That's That's against the law. Well, I. don't drive it. Ever? I haven't driven it since I. haven't been having car insurance.

Cuz I had car insurance when I first. moved here. and it was like $200 a month and I was. like I can't pay for that, so I canceled. it. going on? How'd you get here? I I got here with my car. With car insurance. So, you have car insurance now? No, not. anymore. How'd you get here today in my place? I want to take a brief moment to thank. today's video sponsor Aura Health. Aura. Health is the first AI all-in-one. wellness app that offers a library of.

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transport from your house to my place? Oh, oh, I drove my friend's car. Sorry. Oh, okay. Yeah. Uh. They let me borrow their car. Yeah, just. because just because you don't have. insurance, so you just never borrow your. car? I use their car a lot. Why? Because of. that? Yeah. Okay, it's a weird situation. So, they. want you to refinance. What's your. credit score? I think it's in the six like 680. Do you have a Credit Karma or anything? I could check right now. ahead and pull it up.

So, we'll see more about that car loan. there as well. haven't got any credit cards. because it scares me a little bit. Like. I. My parents didn't really teach me. credit cards are not for you, that is a. perfect thing to recognize and I'm glad. you're not going down that path if. that's something you recognize. So, Yeah. No, that's that's that's good. My. phone undownloaded Credit Karma to save. storage, so I just got to redownload it. real quick. Okay. Oh my gosh. Over just attacks me every time. It's.

the best part, the balls. It is, but every once in a while I just. want like a nice clean 681. 681? Okay, go ahead. Let's take a look here. Good payment history. Credit card use. obviously don't have any. Credit age is. kind of holding you back in only having. one account, that account being a car. Mhm. Let's take a look. We could. refinance. I don't think we're going to get you a a. really good. interest rate though today with where.

things are. And no, you're not even halfway done. yet. Mhm. I'm supposed to finish out paying in. either 2025 or 2026. So, it was like a 6- or 7-year loan. Six. So, they they. Why'd they cosign on this? Cuz you just. couldn't get it yourself, right? Yeah, I. I have a stubborn streak. I've. definitely improved since then where. it's like if I want something, I'll do. anything to get it even if I know it's. not necessarily like a smart financial. decision or just a smart decision.

do to get this? I just was at the car. dealership and I was like I really want. this car and then they like took me. through the whole process assuming that. I was going to be like the sole. proprietor. Yeah. And then at the end. they're like yeah, sorry like you're. going to need a cosigner otherwise you. won't be able to get the car. essentially. Um. I sold my old car for like. your parents to do this? You You made it. sound like you were like convincing them. like I can get whatever I want if I put. my mind to it or whatever. I I don't. remember exactly. I just told them like.

Dad, can you cosign for me? I'll make. all the payments. Like it's just so I. can get the car and he was like He was. like, "Sure." Yeah. Yeah. He was chill. with that. to go into debt for himself. Mhm. Uh so, let's see. Does Does Credit Karma. want to give you a better rate? Oh, I. didn't know that they had that feature. Or not not Not Well, it might not be a. better rate, but I'm trying to see. Just cuz my monthly car payment is.

almost $300 a month and that's like a. huge chunk of money. Yeah. It is cuz I mean, yeah, yeah, you. don't bring in a lot for the area. That's the hard part. Mhm. Like $4,000 a month is nothing to. complain about for sure, but it's just. that a lot of my money is automatically. eaten up. So, it doesn't feel like 40. $4,000. I don't know. I think you're going to be minimum. around a similar interest rate that. you're at now, but I think you might be. above that 10% 12% range. Okay. do. Being under 700 with where interest.

rates are today. Not in a good spot, I'm assuming. That's. interesting. When you know, let's get a. full picture of your financial. situation. We'll loop back to this. I'm. glad this is your only debt. Yeah, I just. didn't want to take on a bunch of debt. cuz I knew that there was a chance a. very good chance that it would just kind. of. be forgotten about cuz I tend to not be. a very organized person. So, it's like. even though I could very realistically. get a credit card and spend it on like. gas and then pay that back. There's a.

fear of just like forgetting one month. and then. I don't really know anything about. credit, so I don't want to get credit. cards until I know what I'm getting. into. That's Yeah. Cuz I I've heard. horror stories of people on your show. even or just in general having like 20K. in debt and it's like that is very. scary. And if you don't want to be. scared, you should hit the subscribe. button. We're really trying to get the. 500,000 subscribers. We might be there. by the time this video posts. I don't. know, but we're so close. So close. That's crazy. It is crazy. Everyone's.

awesome, so thank you for that. Um one. thing you could do uh it's a company I. partnered with. Uh-huh. It's a Fizz card. I don't know. if you've heard me talk about them. It's. geared more towards college students, but you're in the younger part, so the. perks might help. It's like it acts as a. credit card, but it's more of a debit. card type of situation and it helps. build credit score and it helps you. within certain spending categories, you. know, not go over. Essentially, it helps. you manage your thing better. That's. where I recommend it to specific people. who are they like using credit cards. with a bad credit cards or you you're. afraid of credit cards, maybe this.

something you can go into cuz this will. help your credit score Okay. to. diversify. So, take a look at that. I. recommend it. That that could be. something that you look at doing. So, in. your PayPal, this is where you get paid. into from Twitch. Yes. And you're. getting a lot of fees getting taken out. from Twitch. Really? You don't know that? No. Dude, every time you get like $200 put. in, you get a $7.47 fee. Dude, you're getting fee you're just. losing so much money on fees. What the. You you need to use like.

Well, I mean every every service is. going to have a fee. I would just shop. around for the best fee. Mhm. The lowest. fee. Yeah, I've used PayPal since the day I. started. Let me get let me see what. they're. I also use um SE pay, which is like. through Stream Elements, because I. didn't know until like 6 months ago. about that people who had debit cards. couldn't donate. It was only credit. cards. Mhm. So, now I have SE pay as. well. I think they've taken like an 11%. fee. Ooh. I mean, they charged you almost a.

dollars for $6 that came in. So, yeah, I don't like that. Wow. Cuz that's like you're getting taxed and. then you're actually going to get taxed. which we'll talk about. So, in here, you. also pay for Discord which makes sense. as a business expense. I assume you have. a Discord for your peeps. Yeah. Yeah. Okay. That's good. paddle.com. What's this? paddle.com Mhm. Pre-approved payment paddle.com I feel. like it was probably a service I paid.

for for my Twitch stream. that was a monthly renewal that I did. bucks. and I just forgot about. And you. pay through Spotify through this. Yes. Yeah, I don't know why I have it set up. that way. Well, cuz are you using this to try to. hopefully So, okay, your business. expenses come through here, right? Like when I'm Do you have separate. accounts for businesses and personal? Okay, we got to start thinking about. that. That's going to be hard. And Canva. Canva? Oh, Canva. That's like a.

What? That's a that's like a photo editing. like Oh, yeah, I've heard of. I don't I don't remember 120 bucks. 120 bucks. I'd make sure that's not. reoccurring. Yeah. And PayPal went out to something 117 and. more Canva another $120. So, twice twice $120. gone. That That's like. what they took away there.

What they took away there is already 6%. of your income for the month. Okay. Yeah. 6% of your income and you didn't even. know about it. Nope. Oh, no, it's more like 8% cuz Canva $120. gone again. Wonderful. Three times. Three times gone killed taken away. And. then of course, you transferred money. into your personal checking. Mhm. What's. your balance in the PayPal? Um when I checked yesterday, it was a. little bit shy of $1,800 that was.

currently sitting in there. Okay. Uh this is a savings account. We'll look. at that in a second. Wait, is that. Yes. Student checking with student checking. Did you go to college? I did go to. college for. I was looking at my Instagram yesterday. This is why I never use my Instagram. Uh. everyone had graduated from college and. I dropped out like a year or two ago. Did you borrow money to go to school? No, because my father when before I was. born, he was like a construction worker, like a miner, like just a jack of all.

trades, physical labor. Um and he was like in a mine shaft, the. ceiling wasn't secured and a big boulder. fell on him. Jeez. And disabled him. And he settled. for like about a million dollars, which. my mom always. he borrowing to get a car? Sorry. I don't know. He He loves cars. It's like his That's awesome. Why is he. borrowing to get a car? I don't know. Um. he. he settled for a million dollars. My mom. is mad that he didn't go to court and. get more money cuz he could have gotten. more money and he took that a million.

dollars, split it four ways. 1/4 of that went towards him for him to. get like a motorcycle and just money for. himself because whatever. And then he. has three children, so that other money. he put into a. I forget the name, but it's essentially. a fund where you can't touch it until. you go to college, otherwise you're. taxed on it. Yes, absolutely. So, that was set up. Yes. Okay, perfect. So, I don't have any college debt. Good. I'm glad. You dropped out, but I'm.

glad at least you don't have any loans. attached to that stuff. Mhm. So, we have. a car situation we're trying to figure. out. We don't make much money. Do you. have any Okay. Do you have anything. invested? Is anything invested? When I. graduated high school, I was given $500. by like my family and I put that into a. not stocks, but like the safer thing. where. That's It's It's like $600 now. That's. it. Yeah. So, that's your saving that's. your investing? Yeah, I want to invest, don't know how.

to invest. So, we're not making much for the area. specifically for the area cuz I know. $50,000 I mean, that's actually. pretty That's a lot That's a lot better. than a lot of people do. Yeah. But for. the area, it's a bit of a struggle cuz. Austin's much more expensive. Yeah. Um. but in here, we're doing DoorDash, Nintendo, Amazon, Amazon uh Apple bills. and Blue Genie AR and Canva again with. the Canva and Amazon and Amazon and.

Amazon, Gulf Shores, Amazon. Now, there's a couple I'm confused. Love Me. Times? Dude, don't give me another face. This. is $176. You have to know where your. money's going. Love Me Times? Can I Google like. I'm going to Google it. I'm I want to. look up what. L U L U V Me Times. Love Me Bro, watch it be something. It sounds sus. Purses? I haven't Oh oh oh oh. That was.

when I was on. a vacation at a music festival and You. think you can afford that right now? No. Okay. Uh and. K Futzia 15 bucks, I don't know. Geez. Louise. Yeah, that was all in Alabama. And Amazon. and Cousins Maine Lobster and Pipo. Stream DoorDash. What was Pipo Stream? Pipo Stream is just like a. TTS thing. What's TTS? Like a if someone.

is in your stream and they want to like. talk to you with a voice, like a AI. generated voice, like they could. You paid for this. Yeah. Okay, Amazon, Adobe, which I get for. your work, that's okay. Amazon, Amazon. Houndstooth Coffee and Twitch and. Paddle. Oh, no no, the Twitch came in. Sorry, good. That was good money coming. in. And the Paddle Paddle and DoorDash. and Live D Singapore and service charge. and it $1,590.

Airbnb. You can't afford that. You can. barely you you said I'm not paying a. couple hundred dollars on car insurance. cuz I can't afford that on a monthly. basis. And then you go and you pay. $1,600. So, I wanted to get you my my Venmo. history, but it didn't seem they had. like a printable. way to do that. I covered the the cost. of the initial fee cuz none of my. friends. wanted to and then they all Venmo'd me. How much did you pay? I paid after. everyone gave me their money for the.

half, like two or $300 for the Airbnb. And you say you can't afford that for. car insurance. Yeah. Mhm. Discovery Plus. If we're having. Discovery Plus out of all services, come. on. But how much does it say it cost? Eight bucks essentially. Damn. And some. more Google payments and. Houndstooth Coffee. and transferring $2,000 to what I think. is savings. So, there's a savings. account. I want to take a look at this. Yeah, that was something I really wanted.

to bring up with you. So, it's a little difficult for me to. read. We took out 2,500, put in 10,000, took out 2,000. Where are we at today? What's this sitting at? Um let me check. It should be about 11,000 I had to take. out. two or $3,000 to. cover like my rent and all that. So Then. we shouldn't be on going on vacation, we. shouldn't be eating out, we shouldn't be. getting coffee if we're taking from. savings to pay for rent. Um it is at.

$12,000 121 cents. So we cannot be taking out money from. savings. If you're doing the other. it doesn't exist. Savings. needs to be an emergency fund for. emergencies only like a car breaking or. something. Now. I think there's some cool unique things. we might be able to do here which is. exciting. Exciting. Sometimes we don't. have the most optimistic but I think we. could have some. optimism right now. Okay. But first.

that savings what does that savings do? What does that savings even do? What is. that? So. last year I didn't touch my savings at. all until I paid for my taxes which was. about $4,000. This year I took out from my savings to. um. spend money on my subathon. I spent like. two or three thousand dollars to get. things for it to make it like exciting. And although I took out those two or. three thousand dollars for the rent, it.

was a unique situation because my. my roommate my current roommate my. temporary roommate hadn't sent me money. yet and so now that she has sent me her. half I am putting that money back into. my savings. My goal is never to touch it. unless it is the only option and usually. that works out. So it's it's an emergency fund for me. and and tax fund. and tax fund. So you did pay taxes last. year? And are you setting aside a. certain amount of money that's coming in. on a monthly basis for taxes? No. Okay. What I would recommend for.

your income is probably about 25% and. I'm sure there's stuff we can expense. uh or write off write off from your. taxes. Do you sit down with the tax. person do it or do you just do like I I. just do it myself. I've never had. someone do it for me. Eventually cuz you're your own business. you might be able to save more by. sitting a couple hundred bucks by. sitting down with someone. Yeah. Um. would you also cuz I'm not an LLC I've. never paid to be an LLC. form an LLC use it as a pass-through get. a business account. Okay. And then you can help track things there. and it'll be much easier. You spent five.

you spent $600 going out to eat and all. that stuff. You know if we're taking from savings. to pay for stuff. and we're spending $600 eating out also. known as 15% of your income 15% of your. income went to eating out. Yeah. And even if you're in a perfect. situation which you're not cuz you have. car loans and a car loan that we need to. figure out. you can only spend 20% of your income in. a traditional budget.

on fun. You've already spent 15 on going. out to eat and then there was also. travel and stuff. Mhm. The Airbnb and. then you went to spent a lot on. veterinary stuff so Yeah. Um. I have a cat originally that I got off. of Facebook Marketplace and then as I. was moving out of my old apartment I. found a stray cat. took him in and I've spent. probably one or $2,000 on his medical. bills Mhm. which. I don't even think I can keep him cuz he. has feline leukemia.

I don't know if you've ever heard of. that but. it? No it's not treatable. It's. essentially like cat AIDS and he could. give it to my other cat. I would not. have him then. No but I I just don't know what to do. with him cuz I don't know if anyone. wants. Contact local local services. Get on. like 311 see what options are contact. Austin Pets Alive or. Austin Animal Shelter. See what there. are. Um it might be a sad end to that story. Yeah I I if he. But I do not want your other cat to get. sick. Exactly. Like I don't want my other cat.

to get sick but I also don't want him to. get sick. No no they don't live together. I keep. them separate. They live together but. they don't interact. I also spend a good amount of money on. subscriptions and stuff as well so Yeah. Okay. So this car situation what is the car. year? It's a 2018 Jeep Renegade. Um I. don't have the miles off the top of my. head. I think it's like about 20,000. miles 30,000 miles. It doesn't have like. a lot of miles on it. No it doesn't.

So. and it has no major problems. The only. problem was recent where a rock hit the. windshield and it cracked and that's it. So you might have to do a windshield. replacement but eventually Yeah. Well actually is it illegal to drive. with a cracked windshield? Maybe. I don't know. Someone told me that it's fine until. like it spreads. Right now it's pretty. I'm just trying to think of legally for. you driving cuz you got to get back out. there.

Do you have health insurance? You're on. your parents? No. Why aren't you on your. parents? I as I was getting ready to. move to Austin. cuz I got a U-Haul and like physically. drove all the way down here they were. essentially telling me like oh by the. way if you don't go to school and you. don't live in Wisconsin you can't be on. on our health insurance plan. What's the. obsession with going to school because. you're actually like building a business. and you're making income that you're. living off of? Yeah. They they my mom didn't graduate high.

school my bet my dad barely graduated. high school and so I think for them it's. like. vicariously living like wanting a better. life for me and thinking that college is. that avenue. school. Mhm. Well the interest rate on the car is oh. wait no they're talking about school. Yeah I don't know. I don't know what the obsession with. school but they. a lot of people are are kind of obsessed. with it. It just sucks that they took you off. their health insurance for that. Well they have state health insurance so. I don't think they had a choice whether.

or not they could take me off. and it was only prolonged due to COVID. cuz I wasn't going to school so they. were going to take me off anyways. Well I guess that state health insurance. like it's through they work from the No. cuz my my father's disabled so he. doesn't work at all. He's not allowed to. work otherwise he won't get disability. and my mother has always just been like. a waitress. So they both have state health insurance. for for like. my knowledge. I'm not sure on the legalities on that. but with the AC. with the Affordable Healthcare Act.

um you can stay on parents until 26. So. I thought. Well yeah. So I I'm not 100%. sure maybe it was their choice maybe it. wasn't but. Yeah. They made it sound like it wasn't. you're not on health insurance and. that's risky. Very risky. have car insurance and you're not. driving your car. Mhm. Do you even want. to? Do you want this car? I I do want. the car. but. What's the point of owning it and paying. on it if you never use it? That's what everyone tells me. My biggest thing is I definitely have. gone back and forth on selling the car. but I I do think that I would need a car.

at some point. Um I don't plan on staying in Austin. I. do have to make trips like to North. Austin or like to the grocery store and. it does kind of suck to rely on other. people or to like get an Uber or. whatnot. So it's nice to have the. convenience of in the freedom of having. a car. Yeah. Um why aren't you staying. in Austin? I I I am staying in Austin for the time. being. I just I don't really want to. place my roots in one place. Like I want.

to travel if possible I want to see. other cities. no Not now. I definitely can't afford. it. You haven't even started retirement. You. have $600. You need to set yourself up. for success before you even consider. Okay. that or else you're just going to be. Yeah. You're going to be forced to and. it's going to be hard turning your. Twitch. uh. Like. well the reality is we all have a. limited timeline on our social media. presence before the income dries up so. you need to prepare yourself and then.

this experience doesn't really turn into. other jobs very well so you're like. dying on the Walmart floor if you do not. start saving up now for retirement. because we can get you to be a. millionaire by retirement easily easily. right now but not if you just go spend. it all on travel not if you get the. Airbnb not if you do all the that you're. doing right now. Okay. But either way. the car. it's $11,000 to pay off. Like I'm not necessarily attached to the. car. I could always get.

a cheaper car a used car. um but it definitely does feel like I'm. bleeding a little bit right now cuz I. have this payment on this car that I. can't use. It's just sitting there. Well the interest rate sucks and your. parents want you off it. So this is what. we're going to do. Rent $1200 for the time being. Hopefully it better not go up. I would. be very upset. What are you paying for utilities and. all that stuff? Um it's it's usually an. average of 70 to $100 a month though. What about rent? What do you mean like for rent? No rent.

What about um. You do have renter's insurance right? Get renter's insurance dude it's like. $15 a month. it for my other apartment. I forgot I. until you said that I was like oh. that's what I've been forgetting. renter's insurance. Cuz it's ugly so I. don't know like. What about internet? Yeah you still need. it. Okay okay. And internet? Um. flat rate $40 a month high speed. internet through Ascend I think it's.

called Astound. Yeah. Some weird rebranding of a company. Okay. And. the car payment is 292. You don't pay for gas right? Do you fill. up your friend's gas? Sometimes yeah so. like What do you think what do you. allocate to that a month you think? 50? think like. less than 50 or 50. We'll do 50. No health insurance no car insurance. rent utilities internet.

I feel like I'm missing something. You. have business expenses. The the. subscriptions that you pay for at the. Adobe and everything we're going to call. that at about $200. Mhm. And we'll do that cuz that's your. so. Then I'm going to give you $300 for. groceries on a monthly basis. and $100 for toilet paper, makeup, all. that. Which sucks. Can be off-brand, cheap crap. I don't give a 100 for. what?

Like. Anything else you need. Oh, anything. else. Okay. So, makeup, toilet paper. Got it. Tissues. I usually buy in bulk. Last. time I bought toilet paper, it last I. literally bought. is makeup and everything, too, and. shampoo and all that good stuff. Oh, yeah. Mhm. We're going cheap. We're going cheap. So, add that all that. up. 2,000. $282 to survive. Okay. What you are going to do.

is. save. Well, this this month for you're. following that budget, don't spend any. money outside of that budget. Mhm. If. you get people Do you have a boyfriend? No. Go on dates, get people to buy you food. if you want food. That seems so scummy, though. Enjoy them. I had a friend who told me. that every time she goes out to a bar, she never pays for her own drinks. And I. was like, what the hell? Yeah, live that life. Do it. Either way, the thing is, all I'm saying. is do this then if you want to spend.

money, get someone else to buy you it. Just let them know your situation. If they're want If they're friends who. want to go out, you're like, I'm poor. Yeah. Cuz I'm trying to set myself up for. success. I can't go out. And then they. might offer. Don't ask I don't know. Whatever. You know your situation. Just. this is what you spend. Everything else free fun or covered by. someone else. $2,282. This by the end of this month. I want to see your savings account be at.

least. $13,282. Okay. $13,000. $282. You then withdraw. $11,000 of it. Oh, okay. This is going. to hurt. Wait. Now, let's think about taxes. What. have you made this year so far? I think. like about 30K. I haven't done the math. necessarily. So, we're going to say. you're going to make 50,000. Okay. You need to have about 12,500 saved up.

for taxes. So, at this point, we will. have wanted you to have 6,250. And I. don't want you to have to play catch-up. on taxes. That's not a game. The IRS is not someone we want to. Mhm. Okay. So, what I'm instead going to have you. do cuz you should in this budget on an. average, some months will be a little. less, some months will be a little more, you should be able to save. $1,700 a month. Okay. Cuz you're not spending money on. anything outside of the budget.

So, from now in 4 and 1/2 months. you should have in 4 and 1/2 months 4. and 1/2 months you should have $19,532. in there. Oh, wow. Of that, you pull out $11,000 and pay. off the car. Oh, okay. Yep, it's done. It's paid off. You fully. own it. Fully own it. Okay. Boom, that's taken care of. Have a conversation with your parents. Do they want to do this like right now. right now? Right now?

my mom will be like, "Hey, Lisa, how are you?" I'll be like, "I'm good." She's like, "Do you need help with anything?" I'll. be like, "Yeah, could you like maybe. send me $200 for like groceries or. something?". What the Shouldn't be asking for. that anyway. You have the money. No, like this is. a theoretical conversation where she. will sometimes call me up and. essentially be like, "Oh, I'll do. something nice for you if like you. refinance your car.". How long have they been asking for that? Um probably since I moved, so like. almost 2 years.

Okay. We're having a conversation later. today. You're calling them. I'm on a. plan now. Okay. Mom, Dad, I'm on a plan. now. And what was it? 4 and 1/2 months? I. will pay off the car in cash cuz I will. have 1 month emergency fund fully saved. up and what is necessary for the amount. of taxes of that I've earned so far. saved up. Okay. I'm doing it safely. I'm budgeting, not. spending money on fun. Everything's going to rent, utilities, internet, car payment, gas. uh for the cars that you use.

Yeah. Business, food, and toilet paper. I'm not spending a cent outside of those. things. So, will you work with me and allow me to. have an extra 4 and 1/2 months? Yeah. And then you pay it off. You fully own. it. You get the title. He's off it cuz. the loan's done. And start car insurance on it. Yeah. So, you can just use it whenever. That money that I take for the car. payment will just become the car. insurance. Should be a little less because it's not. leveraged against the car anyway. So,

it should be fine. Of course, you're. younger, so. But either way, put that in your budget. It'll take out. the car payment from your budget. What I. need you to do from there, we're not. having fun yet. That costs money. Not yet. 1,700. I need you with work car insurance will. probably be. I don't know what the rent situation's. going to look like, but I need you to. get to 13,500. For savings? Yeah. Okay. So, you'll already have. 1 month in there.

Now that car insurance is starting out, it should be about 6 and 1/2 months. until you have that. So, like about a. year. 10 months now. 10 months and this is done. Think you can do that for 10 months? I mean, like Okay. I feel like this is the easy. Sorry, I asked you a question and then I. cut you off, but. What's immediately sticking out to me is. I feel like this is the easiest. situation anyone can get out to set them. up for the success. But I'm not picking up signals right now. that you give good enough to actually do.

this for 10 months cuz you're like, "I. want to go travel. I don't know how I'm. going to live in Austin." And you're. doing all that stuff and you're like, "Mom, give me. Yeah, for some reason. And like, "Mom, send $200 for groceries and blah blah. blah blah blah blah blah blah blah. blah." And you're spending all that. where I already saw. But then again, on the other side of. things, you have saved up a good amount. of money. Yeah. So, maybe not. You tell. me, are you actually able to not go out, spend all. and do crap for 10 months? I don't even.

necessarily like drinking or going out. It's only really something I do because. that's like the easiest way to meet up. with people and feel like I'm being. social and like not a shut-in, but I. think that's something that realistic. cuz this gives me a lot of stress. Like. all of this thinking about it. I don't. want this to be on my mind all the time. Like, "Oh my god, what am I going to. do?" Freak out, panic, always in the. back of your head. Like, I want to feel. confident about my finances, about my. future because Twitch streaming, like.

you said, can very easily become a dead. end. You can very easily lose your. income or it can't really take like. there's no guarantee that this will. continue for who knows how long. And so, I definitely want to be safe and secure. with where I am so I'm not like, "Ah.". I'm I'm content with staying at home, playing League of Legends, reading a. book, eating a bagel with cream cheese from. HEB cheap aisle. Done it before. I think that for me. months, too.

Yeah, it's only 10 months. And I grew up. like. in a situation where I didn't have a lot. of money. My family didn't have a lot of. money and I think So, I think like. having all this money and seeing that. like. I have the ability to do these fun. things, these expensive things has been. exciting for me, but it's not like I'm. not used to cutting back or having less. So, realistically, I think it's. like you said, not very hard. It's more. so like a mindset, a mentality.

Well, here's the exciting thing. After. that, if we budget in a way for you to. invest 55,000 within a certain amount of. time, Mhm. uh hopefully within a few. years, Mhm. we can get you to pretty much if the. stock market averages what it's averaged. since the history, to a million dollars. by the time you're 60. Oh, wow. will be saved up for retirement, a. million dollars. Million dollars will be. worth less. It'll be worth probably. around. uh. Well, after inflation, it'll probably be.

more like. $400,000 in today's money. It's a long time from now. And like the US dollar is kind of going. down or what. Well, they they shoot for an average. inflation of like 2%, but I'm giving it. an average of like 3, 4% which is based. on history historical performances, so. Yeah. That's insane. A million to 400,000. Ish. It's a long time. Yeah. A lot can happen. I mean, and there's a.

lot There's a lot that would change as. well. That's assuming that after you hit. 55,000. Is that what the number I said? Oh, yeah. After after you hit 55,000, you just don't invest again for the rest. of your life. Which would probably not be the case. That'd be terrible. Yeah. But I'm just. saying, if we can get you to the place. because, you know, who knows how long. these kind of careers last, Mhm. we get. you to the place where you can invest. like that as quick as you can, that's incredible. And I think you can. do that in 3 years if you set if you.

invest 33% of your income. Okay. So, what we do from there is we try to keep. your needs at under 55% and then 33%. towards investing and then the rest goes. to wants. You can have wants again. We. can do all those things. Okay. Well. budgeted in there, wants or needs never go above 50%. including rent and food and all this. stuff, and you minimum invest 33% for a. few years, set you up for success in the. future. And then we just like continue.

that. Like if after 3 years you've done. that and maybe your income skyrockets. anyway cuz your your Twitch just takes. off or something. Yeah. Which would be great. You know, you're investing even more and. more and you get to that point where. you're set up for success even better. And at that point, maybe you cut down 50. 30 20, where you do 50% on needs, 30% on. wants, 20% on investing for the rest of. your life. And then you're pretty much. guaranteed, as long as like the country. doesn't collapse, to be a millionaire by. the time you retire, which is great. Mhm. So, that's that's what my path.

would be for you forward. But first, again, we save up. what's needed for a 1-month emergency. fund, what's needed for taxes, and. what's needed to pay off the car. And. then you cut a check, you pay off the. car. And then you save up for the full. 6-month emergency fund. And then you. start saving up for the you start doing. that investing by maxing out a Roth IRA. You'll open one, super easy, do. Fidelity, I don't care. It's fantastic. And if you want to keep building your. credit score, you could use that company. I partner with, Fizz. That will help. with different things down the road,

like cuz you're going to pay off your. car, meaning you're not going to have. any activity on your credit. Exactly. So, that is something that. could also help cuz if you want to get a. mortgage down the road or anything like. that as well. Mhm. So, I'm relatively. optimistic here. You just buckle down. for 10 months and the rest of your life. is set up. Are you not usually. optimistic? Well, there's Okay, it's not. that I'm not usually optimistic cuz a. lot of people have a fire lit under. their butt right after this. Your. situation is just much more simple and. manageable that you really don't have to.

do much and you're going to be okay. Okay. But you actually have to do it. Yeah. So, will you do it? Find out. We'll see. Let's do a. follow-up in uh in 10 months. Oh, okay. You do follow-ups? Yeah, I do. And you. should have a fully funded emergency. fund in 10 months and your car should be. paid off. Okay. Yeah. And you will then. we can talk about investing and all that. stuff, like what your life looks like. going forward. But follow the budget I. laid out. Get your rent to go down this. place you move to next. Yeah.

By, you know, uh Looking for any roommates if. anyone's out there. There you go. Yeah. There you go. Hit me up. You can sleep. in my closet. Is it big? Um I don't. know, but I'll charge you $2,000 a. month. Oh, okay. Well, that's definitely going. up then, so maybe not. Uh okay. Either way, what do you think? What what does the. next year look like for you? Mhm. Tell me what you're going to do. realistically knowing yourself. Knowing. myself, I think I will cut back cuz I've. done it in the past. Like it used to be. that all the income I made, when I still.

lived at college or lived with my. parents, I would spend literally all of. it. Had no savings, none of it. Um I. would say that in the past few years it. has slowly improved. And I think that. I'm not done improving. So, I don't. think that necessarily I'm going to. exactly hit those numbers, but I think. that I've already started even before. coming on this show, like. cooking my own meals cuz I have a. functioning kitchen now. In the past, this table, my kitchen was smaller than.

this table. I had this much space to. prep on and it was just. very sad kitchen. Didn't really motivate. you to cook or made it hard to cook. Now. I have like a full-size kitchen that. makes it fun to cook. I made like. broccoli cheddar soup and a pumpkin pie. and it was really nice, so. Broccoli cheddar soup and you didn't. bring me any? I love that. I have an. entire pot full, but it's been sitting. in my fridge for 4 days, so. I'm really bad with leftover food. But I. think I can I think I can realistically. do this. Maybe not.

exactly to a T, but I think that. there is a fire under my app, like you. said. Yeah, it's it's burning actually. Sounds painful. Yeah. For Lisa, I think her situation is. actually going to be pretty okay in life. if she just buckles down now. Only 10. months and then maybe a few years of. heavy investing because she's in her. early 20s and compound growth is just. going to make her investment portfolio. amazing. By the time she retires, she.

could be set up for success if she just. follows what we talked about today. For. her Hammer Financial Score, I wanted to. give her more than a two out of 10 on. her spending, but saying she can't. afford car insurance, but spend hundreds. of dollars, you know, going out to eat. hundreds of dollars on the Airbnb, can't. give her more than a two out of 10 on. that. Debt, certainly not even close to. the worst we've seen, five out of 10. Retirement, nothing there yet, uh zero. out of 10. Emergency fund, it was really. good though. A lot of it's going to go. towards the car and some of it's going. to go to taxes as well. Where it's at. right now is actually halfway decent, seven out of 10. Real estate, she's not.

a part of that conversation yet, but I. think she could be in the next decade, zero out of 10. Aggregates down for. Lisa, three out of 10 Hammer Financial. Score. I think within 10 months it'll be. a five out of 10. Then a few years it'll. be six, seven out of 10. If you want a. free $5, feel free to sign up for eight. coins using my link in the description. below. You get a free $5, I get a free. $5, and it's a good place to invest as. well, like I do. Don't forget to follow my Instagram and. Twitter.