Gen-Z Scumbag Thinks He’s Better Than Me | Financial Audit

My producers told me before I was. heading in this room that I was about to. talk to someone who knows his numbers, who is financially well-informed. Yet, I. have seen someone at a credit limit on a. card and above a credit limit on two. cards. Well, spending on those cards. I. don't understand. Your producers didn't. lie. I'm well informed about it. Mathematically, it is proven right here. Take a look. That is going to ruin my. day. Hi, my name is Marcus and I'm based in.

Round Rock, Texas. I'm 25 years old and. this is financial audit. What do you do in Round Rock for a. living? So now, um, I'm in I'm in sales. development. Um, fancy word for I handle. the inbound and outbound initial um, emails, phone calls, and such. for what? Primate. It's in uh, video and game. development. Ooh, that's fun. Extremely cool. Um, but some of the. audience might be familiar with the. strikes that happened last year. So,

I've I have two jobs and I've had two. jobs for five or six years now. Okay. Well, let's stick with that one. first. What do you make with this job? Is it widely commission based? So, uh, no, the salary was pretty good. I cut it down to part-time, but it was, um, 55,000 at fulltime. Um, but now I'm. I've cut that down halfway, so 275. Uh. it shakes out to about 2644 an hour I. believe. Okay. Why'd you cut that down? So, I was.

getting pretty frustrated because uh I. hit my two-year mark there and initially. when I had joined the team, everything. was really great. But then uh so I was. hired on to to kind of start this role. in the company and the one other person. I was hired with, she uh left the. company and then shortly after that my. boss, the chief strategy officer left. the company and things kind of started. falling apart there. So, um, uh, one of. the biggest issues is that I I didn't. have KPIs. So, no matter how good or or.

poorly or average I did, I didn't have. anything to show for it. So, I couldn't. push for promotions. I couldn't push for. raises. I couldn't even push for. bonuses. Aren't you gathering your own then? Uh, I tried many times and I I put. forward proposals for. How long have you been part-time then? Uh, since April. You're Are you not showing the company. that you're on your way out? The team is shrinking. Um, and. why would they keep you if you're. indicating you're on your way out? Um, well, I do I try to uh and even. recently I've I've asked to go back to.

full-time, but because of how much the. industry as a whole is struggling. Okay. So, is the company struggling. because of the company is actually. revenue struggling. Yeah. It's not because of the culture. Okay. And what's the other job? You said you. have two jobs. So, what's the other? Uh, so now I'm in security. I just got. into that last one. Oh, security is great. Wait, what kind. of security? Cyber security or private. security? Yeah. Okay, that's great. Um, pay's decent. Uh, it's not what I would prefer, but Okay. What is the pay? So, that one's 21 an hour right now. Yeah. Okay.

Um, but it's it's a little lax. I kind. of just walk around a complex. So, yeah. Um, in the meantime there, how many hours a week? It's between 30 and 50 right now. So, what's the income that comes in on a. monthly basis? What came in last month? Last month, I believe it was like. something like 4,100, give or take. This is a actually a bit confusing. We. had cash and check in that might be from. work 1,748 and we had zelin of 2238. and then a payroll check of 887.

So, but also a Robin Hood cash out. Obviously, we're not going to count. that. So, minus that, we're at 4,964. just about. That sounds about right. Uh, some of that might have been Venmo that. was not my income. some of like the the. small Venmos like I think there was like. a 300 on there. Um that was me asking my. parents for help. You're asking your parents for help. right now? Unfortunately. Yeah. I made poor. decisions. I needed some extra income.

How long have you been asking your. parents for help? Probably since 2022. I want to say. it's occasional and I try to minimize. What's occasional? Um uh that was the. first point that I had asked for help. since in like a year probably. But that. was. how much? Um so I mean grand total this year I. think I've taken 2300. It's okay to get help but you've. personally cut your own hours down by. choice. So that's where I'm like what.

the are we talking about getting help? Yeah. You cut down your own hours by choice. because you didn't like it. which okay, we can do, but all of a sudden, if we're. not able to pay our bills, we're looking. for a better strategy to recoup the. income that we're losing. So, it wasn't. just because I didn't like it. When I. cut my hours down in April, it was. because I met somebody who made 60,000. in one month doing doortodoor sales. And. I thought, well, I can do that, man. Yeah. I mean, it was terrible. I I tried.

it. I made like one sale, got me about. two grand. Um and then after that was. what were you selling door to door. solar? Of course it's. of course it's solar. Um so it it was. for a purpose. I was I was pursuing. other income but then it didn't work. out. And. so if it doesn't work out go to the job. and say can I get more hours? Right? Cuz. you're sales. So you're benefiting the. company. If you're working more if. they're allowing you to work more hours. it's cuz you're obviously generating. revenue for the business. The sales pipeline was so dry that um.

anyone. else dry your mouth. Take a drink. You're smacking. Yeah, the the sales pipeline was real. dry. Um any additional work I could have. put in was really just being done by the. the sales director. How long do you have sales on your. resume? Three and a half years maybe. See, that's great. cuz sales, you can take that skill and. you can sell something. Listen, I. wouldn't say go door to door for solar. That's usually not the sales that's. like, "Woo, let's do that." Because.

everyone tries that and everyone hates. solar salesman. Yeah. I can gift you a tech certification, a. sales a tech sales certification through. course cruise to help boost that resume. further. But keep or do you want to keep. going into sales cuz this can still be a. lucrative place. Well, there we go. Yeah. Yeah. Sales is is where I want to. be. Um I want to start like I well I've. started my own businesses. Haven't. really got them going yet. But uh. what what business are you starting? What are you Oh, that's such a distract. That's taking No. No. What? No. What.

businesses are you starting? Cuz you're. taking money from your parents right. now. What are you starting? What. businesses are you starting? A little. entrepreneur. What are we doing? So, now I'm just working on product. research trying to find ways to break. into e-commerce. And. what what what side of e-commerce are. you trying to break into? Starting with Amazon FBA and. Oh, me. Are you drop shipping guy? I'd probably start with that, I would. assume. Okay. Um, but additionally, so you tried solar sales, which everyone. in their mom does. So, you're trying the. other thing that everyone in their mom. does.

Yeah. And of course, there are people that. make it just like there are people that. make it in anything. Uh, the majority. Yeah. Uh, seeing somebody show the proof. that they made 60,000, I thought, you know, I if I made a tenth. of that, I'd be fine. It 10,000? No, they made 60,000 in in. just March. Oh, in a month. One month. 60,000. And they showed me. the proof. I I figured I could do it. It was not as.

easy as I expected. Additionally, uh for. my own business, I'm studying uh the. International Residential Code to maybe. start a second stream of of building. inspections. Building inspections. You're going to be. an inspector. Yeah, I think it's a good qualification. Sure it is. But what gets me a little. concerned is when we just have so many. our hands in so many different pots and. you're not focusing in on one. We're. part-time and we're borrowing money from. parents. Sounds like you're doing every. hustle that every, you know, like I'm. going to be an entrepreneur type of. person does. Like you're going down.

those same rabbit holes that so many. people. The success rate for drop. shipping is generally between 10 and. 20%. That's higher than I thought it was. So it sounds like something we should. bet our life on. That is funny. Yeah. Our life. Yeah, I supplement by working the 50 to 70. hours a week. What do you mean? So I have both jobs. together. Yeah. Yeah. So I. But but but who working 50 to 70 hours a. week is borrowing money from their. parents? It was because for a short so while I.

had two jobs I the previous job I worked. as a server in a restaurant and then I. quit that. So there was about a. two-month period where I only had the. one job that was part-time. So I usually work two two jobs. Okay. No. Why? So, because I think it. gets us a little confused when we have. our hands so many different pots, what. you could be doing is focusing the. skills resume you have, possibly taking. advantage of the certification to boost. your resume. Take that, find a better. sales job, an actual sales job in an. actual company that isn't you just going.

out there and busting for solar. Take. that, work 40 hours a week, 50 hours a. week, and make more money instead of. making less money at 50 to 70. But. because you're distributing your time. and energy across all these different. piles of things, you're not focused in. on what can actually be what's. generating you the revenue to take care. of debt. Obviously, cuz you're on the. show, anyone that comes on the show has. debt. So again, I mean, that's just. another pile that is in this thing that.

you have to deal with. Yeah. Yeah, I agree. Um, and that's part. of the issue is that the the job market. right now is ex extremely competitive. Um, so finding something that's. full-time and pays at least what I'm. making now or more, which is what I. would need. Uh, well, I think that I. need for my bills, but I haven't worked. out the budget the way uh that you do. U, I'm trying to find something that. that can at least get me maybe 4,500 a. month full-time. Next time you go to. sell something in person, man, just.

threaten toing stab their eyes out with. the weapons hanging from your ears. I consider it. So, what's going on? What are we looking. at today? My situation, I think, is is a. little different than some of the people. on here cuz my issue is that I am I'd. consider myself pretty financially. literate and I choose to make talking. Yeah. Yeah. I choose to make poor. decisions and then can't even justify it. to myself later looking at it. It's a weird case, but I look at the. numbers and I don't know where all my.

money's going. How are you financially literate, but. you don't know where your money's going? What? What are you talking? That doesn't. make any sense. Those contradict each. other to the extreme. Take a drink. You. are a lip smacker. You are a drymouthed. guy. This is a podcast. No one wants. that. Uh, what would you give yourself? Self. assess financial score? I'd give myself. to. a generous four.

I pay my bills. My bills are paid. Okay, Tammy. Why? Amy, sorry. Um I have I have a historically I every. single bill since I was 18, everything. is all paid on time. Nothing hits. collections, nothing. Um. that's our definition of being solid. down the middle. I four is below average. But the. positive points that I give myself on. the score are the fact that a lot of. people do have late payments or. collections and things and I just I. don't have that cuz I pay my bills. Okay. If you want your Hammer financial. score, it's free link in the description.

below. And if you want to be on this. show, by the way, and uh if you have. interesting story, interesting finances, anything like that, apply. caleb.com/apply. and we'll have you here in Austin, Texas. Let's start with the Best Buy. card. Jesus Christ. That one is tough. Okay. Sure. Okay. The thing is,

what is everything a joke? What are you. doing? No. No. This is the coplap with my worst. credit card and some of the worst. decisions. Yeah. Financially literate. I'm a four. out of 10. Guys, you're financially literate. You say you. pay your bills, all this stuff. The. credit limit on here is 10,700. You're. at $10,967. So, I don't know what you're talking. about. Interest hits like a truck. So, why are you purchasing on it then? So, I I kind of fall into this loop. where.

What is that? What are you doing? You're. adjusting with it constantly. Oh, cuz it falls. Why are you wearing it? I have some uh some scars that bother. me. That's fine. Sorry. I just The the. spending annoyed me. Yeah. Yeah. So, I'm in this loop where. my credit card minimum payments uh take. up like all of my income. So, then when. I have to buy things like gas and. groceries and uh fun money, fun money. You Why would there be fun money? Smirk, smirk, smirk. Why would there be fun. money? Why would there be fun money in In what.

world would there be fun money if you. literally cannot pay your bills? It's tough to keep going without fun. stuff. How much fun stuff? Um, probably like. 200 a month. Sorry, that's that's just going to kill. the listeners. I probably 200 a month. Fun money. Mhm. So, how much was your spending? Spending on what? Spending. I mean, all of it. I at least all of my. paychecks cuz I. It's not a number.

4,200. 7,024. Financially literate. Four out of 10. I know a lot of that was rent, but. doesn't matter. It's the number. Yeah. You thought it was almost half. Yeah. I have no idea. Okay. And your [ __ ] You think it's only a. couple hundred bucks? 400 bucks for. both? Yeah, I think so.

Going out to eat it was a little small. Large purchases. says you had large. purchases of $1,777. Even your phone bill is $428. My portion is too big. Substantially less. So, it comes in. Yeah. Yeah. I don't know where all that. money went. Uh for the substantial. purchase, I cannot think of anything. that was. Oh, we'll go through them. Don't you. believe it. It wasn't a single purchase. of 1,776. Going out to eat was about 500. Well,

going out to eat and miscellaneous. [ __ ] is about 500 combined, which is. already over your 400 max. of money that. you thought you spent on [ __ ]. Unnecessary fun. Yeah. Yeah, that's more than I thought I. was spending. Okay. Best Buy. 10,967.76. minimum monthly payment. And you're. right. This I mean this is it's. substantial. $651.76. That's a huge hit. It's a huge hit. Especially we'll just, you know, trying.

to gather money from anywhere we can by. working different jobs. I get it. Interest charged $273. You made a minimum monthly payment, but. it doesn't matter cuz you purchased. $1,329. on it, which makes no sense when it's. acrewing that much interest when you're. at the credit limit and when you're can. you can't make more than the minimum. monthly payment. I think that a majority. of that was the phone bill, an electric.

bill. Uh, can't think of what else would have been. substantial on it. Apple bill, inapp. inapp, or a subscription, open AI chat, GPT, inapp, Apple thing, truthfinder.com. Who are we truthf. finding on? Okay, so that one was was relevant. I. was um looking for family members. information. Why? Didn't have access to it. Somebody been missing for a while. Someone's missing.

Yeah. Did you find them? I found them now. Yeah. And I canceled. it immediately. And are they? Yeah. Things are good. Other family members like couldn't. connect you. That's eventually what ended up. happening cuz Truthfinder couldn't do. it. So it was pointless. Inapp Apple purchase inapp Apple. purchase inapp purchase inapp purchase. inapp purchase or subscriptions. Whatever these are. I can't see. They're subscriptions. Oh, will you have every subscription. possible? Well, they're for Apple Care. for a bunch of individual devices. 1 2 3 4 5 6 7 8.

I believe six are Apple Care. The rest is Grinder. Okay. And then HBO. Max and then Best Buy. HBO I canceled because that one should. be included with my phone bill, but for. some reason it's not and I don't even. watch it, so it doesn't matter. Yeah. And then Best Buy. How much was it Best Buy? It looks like you went and got like a. bag of candy or something. Oh, no. Was it a dollar? $132 to Apple. Yeah. Yeah. I I keep all these um Apple. Care subscriptions cuz I I just am.

nervous I'm going to break something. It's going to cost way more. Cool. Keep paying your minimum monthly. payment on this as you are and it takes. 25 years to pay off. Yeah, that was bad. $1,695.33. of interest this year alone on this. card. The year is not even done. Yeah, that's what I was looking at. Which is. 2000 by the end of the year probably. Yeah, that's what prompted me to do all. this because I looked at all of my. credit cards combined and saw I was. paying about 600 a month in just. interest. Pretty severe. Why do you know some.

things but you don't know others. You. have taken the step of understanding. that. Woo! Wonderful. Great. Like. actually well actually sorry I was being. sarcastic. No, genu genuinely that is. great. But then why do you not know that. you're spending double what you thought. you were spending? Why are you putting. money on a card that you cannot pay off? Why are you doing all the actions behind. these that are absolutely ridiculous? Looking for something scalable to get me. out of it? Yeah, I choose a job which usually has. more than a 10% success rate.

I've got two of them. Yeah, I choose like a full-time job. I've got one of them. Full-time job that pays the bills, which. you can with your resume experience and. potential skill set. Yeah. Yeah. Um the issue is really just. Okay. Endlessly scratching your legs. Oh, I'm just adjusting my pants. Okay. Um because. why? What's going on down there? Because I feel like they're high waters. I don't think they are, but I'm trying. to adjust them. None of that were words to me. Yeah. Yeah. I absolutely feel like I. could find a better job, but the.

just looking for something. No, that wasn't my question. My question. is why are you knowledgeable in the fact. that you know you're paying so much. interest, but nothing has changed around. it? You gathered the information, but you. didn't execute anything. Well, the issue is keeping up with the. minimums right now. And. what was it? 150 bucks to spend on. Apple. That gets you close to some of. the minimums.

Yeah, you're never going to catch up on the. minimums. If you're making this balance. go even higher and higher and higher. every month, you make it worse cuz your. minimum last month was $400, but now. it's 651. And that was paid. I paid my I pay every. statement as soon as I can. Yeah, but it's going higher. You're. making it harder for yourself and you're. saying it's taking away from actually. making any more progress. Um, yeah, I unfortunately agree with. that. Not much I can argue against. No, I'm asking why. You haven't given me a reason why. At.

least self assess. You think you have. done no actions. around this even though you are. knowledgeable about your interest. situation and your minimum payment. situation. Why don't you cut back on the eating. out? On any of the fun? I don't think I eat out very often. Listen, your eating out was 200 bucks. It's not absolutely insane compared to a. lot of people on this show. That's like. that's a third of this minimum payment.

Yeah, it gets you there. It gets you there. Your other miscellaneous [ __ ] about. 300 bucks. Throw that towards it. You're. basically there. You're almost there. W. I can't afford my minimum payments. Mommy and daddy, come help me. Oh, wait. on things that are just going out to. eat, stopping, and getting taquitos, and. just [ __ ] video games or whatever. That could have paid the minimum payment. almost. Well, that was I I only asked for help. while I had one part-time job. Now I'm. good. Now I don't need help. Listen, it happened. Yeah. And this is the life you're living. You're spending that money and you're. saying because of the minimum monthly.

payments being too high, that's why I. can't afford to live and I'm not making. progress. where in fact you could have. well you could have more than made your. past minimum monthly payment but again. you put more money on this but with what. goes to miscellaneous BS and necess and. going out to eat it was nothing. yeah so I have a bit of a plan for that. card. oh let's hear plans are good um it's. just the execution behind it that. concerns me based on your actions but go. ahead. that's a little what I'm concerned about. so is the execution. but I got a personal loan which I've.

done before. No. Okay. But it's it's a it's a good one. Is it in here? Do I have the statement? Um, you have the inquiry on this one. He brought a little What is it? Um, the Experian report and. so it's I was rocking with zero. inquiries for quite some time, but when. I was looking at everything, I trying to. figure out a way to fix it. And. when someone brings a f a fresh folder.

to the show, you know things are not. going well. So my idea is paying off this 30%. interest rate and then another uh card. with 30% interest rate. The loan is. 17.73. So. and and. and not spending on those cards anymore. No, you need to close them. You don't. you can't control it. You can't control. it. It's going to hurt my credit. It. doesn't matter. You're not taking. advantage of any credit. The credit's. taking advantage of you. It'sing you. You have 30% maxed out, over maxed out.

You can't do it. You can have a card. You can have something like the Fizz. card, a charge card. You put the money. on. You can only spend what you put on. and it helps your credit. You can do. that. You cannot have access to $10,000. You can't You don't know how to do it. Yeah. And every every time like I had it. at like 6400. and then um they raised my credit. And they keep they keep will So stop. you. That's what you would have to do. I. don't want you to consolidate anyway. because doing that before fixing. behavior doesn't do anything. That just.

you that brings up cards that makes you. open another card that gets you in a. worse situation. Trust me, many people. have been on the show that are on the. other side of what you're about to do. My only concern with closing the cards. though is affecting the average age of. credit history. Yes, absolutely. Of course, absolutely. It affects your credit score. But guess. what? You're getting that 30%. overspending on your limit. What is more. beneficial that you're going to take. advantage of with having a good credit. score than you are getting? Now, legitimately guys, I believe that you,

everyone in your life, everyone around. us can actually take control of their. financial future and make their lives. better. And we've spent over a year here. creating tools to help make those goals. a reality. Right now, our budgeting. program and investing program are. bundled together at a 15% discount. and. you get $100 in cash gifted to you right. into your Amumu account. There's. honestly no time like the present to. actually take control of your future. Don't wait. Don't let this opportunity. pass you. What's more beneficial. mathematically that you're taking.

advantage of than the negative impact. you are getting right now with this? The end goal is fixing it and then being. able to get a house. Now, a house is. and we can do that. And guess what? You. can build a credit score again with. charge cards. And yes, yes, you're. right. credit history and age, credit. age will be an impactful part of this. You're also lowering it by opening the. personal loan anyway, but regardless, we. can get you into the world of having a. good credit score and getting a house, but that's far away anyway cuz you're.

negative money right now. So, by the. time that that's even a part of it, we. can have discipline, we can have credit. cards. You're looking long-term, but. short term, it doesn't make sense. Yeah. Yeah. That's it's been a common. common trend looking at the long term. and making the poor decisions that don't. coincide with it. Okay. And what are you doing to address. this? So, you know, this show's not a. magic pill. We're going to call out the. situation. You're just making people. aware of their situation, creating a. light plan and connecting them with. resources. So, I usually I try to follow a bit of a.

budget, but it usually only goes. no budget. You didn't know how much came. in. You didn't know how much went out. You don't budget. Don't don't don't even. use the word budget. Go through a. budgeting class. Go through the. budgeting program. Take all the quizzes. Go through all three hours. Take your. family through it if you want. You get. it for free for being a guest on the. show. Go through that cuz no, you don't. budget. You don't know what a budget is. And you can get the budgeting program. right now and the investing program. where you get $100 in to your Mumu. account. And that's all at a 15%. discount right now, by the way. Check. that out. But you get it for free. So go.

through it. Take advantage of it on the. Apple Card. $1,431.82. 82. with a $51 minimum payment. You could. have easily made this minimum payment. with the amount you spent with a fourth. of what you spent on going out to eat. So, I don't know what the you're talking. about before. And I did payments. Yeah, you paid it, but you said it takes. away all your money from being able to. make progress. I know you're making. minimum, but progress. I think I paid more than a minimum. I'm. pretty sure that on like usually.

didn't on the last one. And so on on the. best. on the Apple you did on the last one you. did not. did not pay the. on the apple you did on the previous. card we looked at you did not. oh so that one was because the the. minimum for the best buy is usually like. 400 but because the interest shoved it. way over the limit the minimum also tax. on. yeah the over limit. Yeah you made a little more 27.24%. interest rate you're getting a $35.70 of. interest acrewing. Is this acrewing. across the board?

Uh 401k. Oh, okay. 401k loan though. This is a loan. I was going to say. usually the investment accounts are at. the end of the stack. Well, that's why. $1,883. against the your $6,800 in equity. position. Yeah. So, the issue with with that. why did you take out a pay uh a 401k. loan? That's the issue. That was to pay off a previous personal. loan.

And how did that work? It paid it off. So, you're doing it again? Um, yeah, that personal loan. And guess what? We brought up more debt. on the side anyway, cuz we didn't fix. the behavior before we tried taking a. shortcut. Yeah. Yeah. Um, and then the issue with those. was that we the company in a lot of the. the adjustments, they switched from um. one provider to a different provider and. then from that provider to another. provider. um which stopped those from. getting automatically paid. Um and then.

they just ended up defaulting. I'll. probably just call them up and pay them. um to have that closed out though. This? Yeah. First before anything. before the credit cards. What's the. interest rate on this? If I recall, I think the interest rate. pays back into the account. Um but. what's the interest rate on the loan. on that one? I don't know. Well, it's not on here. And I know your. minimum payment. Yes, that comes out. before you get money probably. Uh, not anymore because once they. What's the minimum monthly payment then?

I think both of them were. there's two balance of 244 one with like. a 1,800 balance. Oh, let's see the 244. Okay. So, what's. the minimum monthly payment? Uh, both of them were 84. So, I think I. think. 84 together. Uh, I think one maybe 170 together. Freedom card. Woo. This is chunky. $5,390.20. Swear if you purchase on this, I'm going. to freak out. You didn't. Thank you. Thank you. But you're basically at the.

credit limit. 100 bucks away. Minimum. monthly payment 176. Again, with your. spending and eating out. Yeah, you did. make a little extra. So, what do you. mean there's no money left over? You're. obviously putting a little extra towards. some of the debts. You're also going. about it in a weird way. What's your. strategy? You're putting a little extra. to this one, a little extra to this one, a little extra to this one. Like, that. doesn't make any progress. That's not. any of the accepted debt payoff. strategies. It's paying all of them off more than. the minimum. Um, so I feel like it makes. progress on all of them.

Okay. If you put all the extra on your. smallest debt, right, it pays off the. smallest debt quicker, right? Then. paying just a little extra on everything. across the board. Correct. Yeah. Let's snowball. Now, when you pay off the smallest debt, what happens? Uh, no more interest on that one. Okay. No. Now you no longer have the. minimum monthly payment on that. And. that minimum monthly payment that used. to go towards that gets rolled into the. next one and that's why it snowballs. So. that's the benefit of the snowball. Avalanche. What's avalanche? You know. avalanche.

Oh, avalanche is the other widely. accepted debt payoff strategy. Avalanche. is paid off the highest interest card. Why do we do this? We do this so you. know we don't have the highest interest. rate card acrewing anymore. Mathematically that one actually saves. the most amount of time but or actually. saves the most amount of money but that. snowball is the best psychologically. keeping people motivated. No one. suggests putting a little extra across. the board cuz you're not making progress. on your highest interest card as. substantially as you need to and you're. not making progress on your smallest. debt to allow that minimum payment to go.

to the next debt. This strategy is. getting you nowhere quicker. I mean. technically quicker than just minimum. monthly payments, but it's not. accelerating you there like the other. plans would have you. Yeah, that makes sense. I don't think. I've framed it that way before um with. this personal loan. I didn't know the. name of Avalanche, but that's how I was. looking at doing it. Okay, but you're not. Why? Well, now I am. I was I was going to do. the Best Buy and then um then. Well, okay. What you were going to do, but you're not doing it. It hasn't It hasn't been done yet. Like, we can all say we were going to do.

something. Doesn't. But it's not what you were doing. Yeah. So, I I agree with the avalanche. side of things. I don't want to do. You were above the credit limit at the. beginning of the month. because of interest. Yes. Because of interest. But you also. put it all the way up there in order for. it to be put above with interest. Yeah. And I I don't know how all of the. you know the death by thousand cuts got. me to that. Cuz you don't budget. I can't believe. you were about to tell me you budget. You don't budget. You don't know what a.

budget is. You've never heard of a. budget in your life. Never seen a. budget. You've never seen a. Well, when I look at a budget, I think. like I I kind of track where all of my. paychecks for the next month forward, which bills they're going to pay for. Yeah. But then you don't look back. There's no point of it if you don't look. back and see what actually happened or. adjust it for the future. Doesn't make. sense. That's what a budget is. Again, you'll get it in the class. Oh, you got a refund from something. Okay, this is a 25.99% interest. Costco. card. City Costco. Wow.

Love that one. That was my first uh. unsp. Apparently, you do cuz it'sing above the. credit limit again. Are you kidding me? How is this happening? How's this? You. purchased youing purchased on it. How. are you doing this? How are you doing. this? My producers told me before I was. heading in this room that I was about to. talk to someone who knows his numbers, who is financially um wellinformed. Yet, I have seen someone at a credit limit on. a card and above a credit limit on two. cards. Well spending on those cards. I.

don't understand. Your producers didn't lie. I'm well. informed about it. I just keep it going. Okay, then that's even worse. Cuz if you. were ignorant to it and you kept it. going, I would, you know, we could help. you out of it. But the fact that you're. like, you know it, and then you're. choosing to stab yourself in your. throat. Yeah. Yeah. Maybe less than death by. a,000 cuts and stab in the throat. It's. accurate. Uh-huh. But I don't think that I really made any.

substantial purchases on that. $892. Oh, that was the car repair. Yeah, I had. to do that. You didn't have an emergency fund. I didn't. Yeah. Every time I have savings, I just. throw it into into a card. Into a what? Into one of the credit cards. Oh, then it's not savings. That's in an. emergency fund. What's your car? It's a um 2019 Ford Fusion. Wait, wait, wait, wait. Okay. Who is. she? That's my girlfriend. Your girlfriend? Yeah.

Why the are you paying for your. girlfriend's car with money you don't. have that put you above a credit limit. while interest is acrewing? Between the two of us, it was the best. option we had. what the uh. and a couple million people. Yeah. Well, what the mechanic was. offering was this horrible deferred. interest. Uh pay off this large balance. within I think it was like 3 months. Otherwise, it's an interest. How large? It working out the numbers. The the. interest was well over 100%. No, no, no. How large was the balance. you had to pay off 3 months? Oh, like uh 800.

Technically, you could have done it. I. wouldn't have want something someone. like you to have it though cuz you don't. want to manage paying your debt. But even still, why are you paying for. hers? That's what the question was, not. what debt offerings were you given? Cuz I knew her options were worse. So, just kind of between the. How much are you taking care of her? Well, I mean, she pays it over time, huh? So, you're She's in debt to you. technically. Yeah.

Do you help her in other ways? Um I mean. we live together but. does she pay towards rent. now? What is how is does that pay back. going? What does it look like? She just tax it on to um what she gives. me for rent. Just throws on throws. How much? Uh usually about 100. Usually about 100. So it's not a. specific amount to be paid off by a. specific amount of time. So working in a restaurant the money. varies quite a bit. So it just depends.

I don't I don't ask for it. cuz you guys don't budget. Okay. Mhm. How'd you rack up the car to begin with? Cuz it wasn't an $800 car thing. You. were already basically there. And also. you Costco, Costco gas, PayPal, Postal, PayPal, Postal, Wendy's, Apple Bill, Amazon, Micro. There actually wasn't a. Oh, here it is. There's the auto repair, but everything else as well. And then a. Microsoft thing. Yeah. So, the all. then a plan fee. The plan fee? Yes, a plan fee for the card. That's for the computer that I have.

financed under that card. It's very nice. What are you doing? I have a weakness for technology. What wrecked this card up to begin with. over. I can't I can't remember. And I think. part of it is because I used to have. quite a few. And you called yourself knowledgeable. about your finances. Well, I used to have quite a few um. nights out. I'm now uh past nine months. sober. So. Oh, congratulations. That's actually. really good. Good job. Uh but what are.

you saying? So, you would spend. this for your nights out. Is that what. you're saying? Sometimes. And I think also I would make. bad purchases while drunk. What? I don't know. I don't remember cuz I was. so drunk. What about the computer thing? Um, what about. is that when you drunkenly got a. computer? No, that was I was fully sober. That was. I have a. How much was it? Uh, so I had a buddy that worked at. Apple and he also had like a 500 off. credit in addition to the% off. a very.

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I like to convince myself that I'm going. to use it for. for um. for what? Must be rendering massive 3D. files. No, I like to future proof. But what do you do? So, I I've always wanted to do like. video editing. Video. editing. Are you kidding me? Streaming. You do not need that for streaming. Video editing. Okay. Video editing. Sure. Unless you're like uh four. channels of raw red footage at 8K, you. don't need a Max Studio. But future.

proof, future proof doesn't make sense because. by the time you would want to get it, there'd be something twice as good out. there. By the time you're ready to go, you're not futurep proofing. You'll have. anthquated technology. It'll still do it. well, of course, very well, in fact. But. still, you've you bought the technology. for what you want to do when better. technology will exist. Yeah. Well, and also for something that. again you're I mean you're trying like. 50 different careers, drop shipping and. all this [ __ ] but we're video. editing now. What are you video editing? What kind of video editing? What are we. doing? What's the plan? What's. happening? Not doing anything right now because I.

don't have time because of the other. jobs. What would you video edit? Probably games. Huh? I like video games. Clips from video games. Um yeah. Yeah. You do not need a Mac Studio. That's literally correct. Yes. Get a $1,200. PC, use Premiere Pro, call it a day. Adobe's been in some hot water recently, so I kind of stick with Final Cut. Okay, Final Cut's fine. It just forces.

you to get a more expensive device. You'd be okay with uh How much was your. computer after all the things? After everything, uh 2500. Relatively close to a MacBook Pro you'd. probably get, but of course it's not. mobile. And I well I do have a MacBook. Pro from 2018. I'm gonna [ __ ] That's You would have. been okay depending on its internals. Internals are okay. It's been slowing. down over time. It was getting pretty. hot. Is it Apple? Is it Apple silicon? No. No. It's 2018. So it has Intel. So yeah, I wanted something I wanted. something with Apple silicon and then.

current one is just slowing down. Discover it. I swear everyone on this. show has discovered it. Okay. And here. we go. $1,465.99. There's still purchases. There's still. purchases. We keep doing this. And. again, this is borderline at its max. So, everything we've looked at is either. over the max or at its max while. purchasing while you're knowledgeable. about it, which actually upsets me more.

than anything else because you actually. know what's happening and borrowing. money from the parents. So. this is. Yeah, it's cuz I mean after paying all. of all of my debts. is what you say and what you said. Except that's not true because we have. your spending categories. We know you. spent minimum $500 on [ __ ] And. we'll go through the large purchases of. $1,776. of $77. Well, yeah, but I had to use the credit. card to do it cuz I. to do what?

To do what? To spend. Yes, but if you if you didn't. spend it on [ __ ] you wouldn't have. spent it. I don't think that much across them is. bull you. It's right here. We went. through it. We put the time into it. What do you mean you think? This isn't a. think. It's not an opinion. It's not an. opinion. Yeah. You all have to go. through the lines and figure out where. that was going. PayPal out $67. That's in the large. purchase category. You zelled out. $1,180.

Is that rent. one? Um, zelda. No, it's not because we have housing as. a separate category. Wait, how much did I zull out? Total $1,180. Transfer to an account externally $125. Apple cash out $380 and cash app out. $25. Those are the other large things. category which made up $1,777. I have no idea what's being filled out. Yeah. And then on this card, even though. you made the minimum monthly payment, guess what? The balance went up because.

you purchased. Even though it was a. small amount, you still purchased. Combining that with the $35.71 of. interest, yeah, it went to $1,465.99. on a credit line of $1,500 with a. minimum monthly payment of $56. Now, you. really just the opposite of any. progress, the opposite of any. discipline, the opposite of any. financial maturity, and it's an Amazon. purchase. Okay. All right. What was it?

The Amazon purchase. Oh, yeah. I think it was a pen. Like a writing. utensil pen. A singular pen for $21. Oh, 21. Uh, no. No. I don't know. Pull up your Amazon. All right. Let's see here. Watermelon. fountain pen ink. Intense. Oh, for the pen. Your debt's only. getting worse. $44 on this pen and then. $9 for the ink. Well, our debt's only.

going up and borrowing money from our. parents and have no idea what our career. is cuz we're a mess right now. What the. world do you live in? You're not living. in the real world. That was after I got the second job and. I I went back. I don't give a debt's only going up. Don't try to excuse it. I don't have to borrow from my parents. anymore. I know you keep saying that, but guess. what? You did. And your debt's going up. The debt's going up. Yeah. Got some batteries. That's fine. More. ink. You got ink twice, you little ink. guy. And then black ink refills. Are you.

pen obsessed? What are you? They're for work. Here, let me make youring day. Here's. the pen. Congratulations. Best thing you've ever had. You got an. industrial. uh flashlight. Oh my god. Refill for. pens. What? You refill for Parker beds. What are you. doing? You're obsessed. This is crazy. I use them for work. You go through four pens a day.

Sometimes the ink is bad and they dry. up. Oh my. What is this automatic? If this is pen related, I'm going to. freak out. What is this brush kit? Is. this to brush your fence? No, that was. for um for part of the car repair. rather than having them charge me $100. for. acoustic sound panels. You don't need. that. You don't need. Think of the word need. Well, that was because I was having. issues with noise for from.

You're wearing the things that you those. you just bought. Indeed. The little spike earrings, those little. weapons. Protein powder. Great. Got to. grow all that muscle for all the intense. pen writing. that was spread over months. It's not like a ton of crazy purchases. in one month. It was July. This is last month. What. are you on about? Oh, I guess that was. two months ago. I I Dude, I I I write a. ton. I fill these books up so quick. We.

refill it like once every six months. What type of pen is that? I might buy. one. A nice pen. No, don't. Don't. you don't. have money to especially because what is. this car? What is this auto loan? What. is your car? Um Oh, my car is a 2019 uh Hyundai. Tucson. Um I not the best interest rate, but it's 5.66. So. yeah, it's not. But if you calculate in. depreciation and everything, it's. probably not keeping up with the market. anyway where the money could be. No, I I just looked at it the other day.

and saw that for the first time since I. got it, I'm upside down. What' you see? What was it? What was the. number? I think it was like nine and a. half or 10. Huh? I think so. Huh? Oh. Oh. Oh, really? I think so. So, you're down by a third cuz you owe. $15,676.37. Yeah. 5.66% interest rate, $411 minimum payment. And I do agree that the minimum payments. are stacking. Don't get me wrong on. that. I just disagree that they are you.

you have nothing left out of them. I. really don't. That minimum is actually. like $4.90, but um it shows less because. I always pay 500 and then after many. months of that stacking up, it. got. ask for less. Again, you're not doing any debt payoff. strategy that has actually proven to be. beneficial. We got to reorganize this. thing. It's not making progress. Venmo. This is this is this has started. to come on the show recently. A Venmo.

credit card. I don't know when they came. out with this, but you know, anyone. that's addicted to debt, they've started. to get it. That one I'm I I think I might cancel. cuz I actually just saw. You cancel them all. You don't know how. to use debt. That one's raising the interest rate, too. So, two. uh 3249. Oh my gosh. Yeah. On my latest statement, it said. you're finally making money. $1,49.39. minimum pay. You're over the limit. again. You don't have a debt except for.

your car. You don't have a debt that. you're not over or at the limit all for. pens and ink. That's insane. I don't. understand the point of this life that. you're living. It's like you don't care. about your future and then your. retirement like you start to contribute. to it then you borrow against it. Yeah. Yeah. The retirement one's frustrating. too cuz um it used to have a really. solid match. It's it started from 100%. vesting schedule day one, but then as. part of like the budget cuts that they. just stopped offering 401k.

Well, your car we're actually getting a. higher private market value, but you. know the condition better than us. So, you put in your VIN and condition and. everything and you got about 10,000 is. what you got. I might be wrong. I didn't print it out. and. we're getting about 13. Okay. Well, oh, and we put in the. all the information that you had. No, not dramatically underwater. Still. underwater. Okay. Yo, $50 a month on. this Venmo card again. You're over the. limit. There's purchases. I swear to I.

swear to God. It's cuz I end up in these positions. where I only have available money on one. card. You I'm going to Yeah, but why would you. spend on that one card? Because then I have nothing to spend. You dumb little You dumb little You. little bearded guy. Listen. And I'm. trying. I'm I'm catching up. But guess. what? I'm trying. I'm just I'm just I'm. just trying to process what I'm trying. to say before I say it. So, I just throw. out words. We've already documented that you spent. minimum $500 on [ __ ] and then we had.

all those transfers out of $1,777. What you are saying, that statement that. you said multiple times is objectively. incorrect. Plus, you're putting a little. extra on everything, which is not an. accurate debt payoff strategy, which. means you still do have money. You do. not have to spend on a car. Duh. But. then how do I pay my electric and how do. I pay. you? You absolute you have the what the. are you talking about? How did what I. just say not make sense? I'm going to.

lose my mind. I'm going to lose my mind. I'm going to make her break up with you. right now. I'm going to lose my mind. Are you serious? Do you seriously not. comprehend what I've said? You put a little extra towards these. stats that is not benefiting you because. it a little but it's not actually making. progress in a substantial way. That. money could pay your energy bills. instead of putting more money on the. cards which actually just makes them go.

above the limit. All the extra money you. put towards them by the way are. completely negated because you spend on. them anyway. So it doesn't really make. any sense. There's really no purpose. You're just offsetting it. So you're not. even putting anything extra to the. credit cards anyway. But then it doesn't. even matter because $1,777. went out. We don't know where the that. went with other accounts that went and. sell and then went and then guess what? $500 going out to eat another bull. So I. don't know what you're talking about. How can you keep saying that if. mathematically it is proven right here?

Take a look that that is incorrect. That is going to ruin my day. Do not say. what you just said for like the fifth. time this episode cuz it is beyond. objectively incorrect. So only pay the minimums on. Oh good. Can you turn her mic on real quick? Do. you understand what Do you comprehend. what I said? No. Can you.

Oh me. Oh my gosh. I'm done. Turn her. mic off. Oh my gosh. Where am I going. wrong with my communication other than. being loud? How how how I I I my. producers are typing to me to break it. down, but like I I what what am I what. is wrong? What is wrong? What am I. doing? Okay. Can I have the whiteboard? Maybe I need to draw this. Okay. Okay. Okay.

So, here is the damn credit card balance. that you have. Okay, the balance here is. your minimum monthly payment. Look at a. little line up here. Little line. Okay, now guess what? You make a little. progress, a little extra progress. You. add an extra line, but it doesn't matter. because then you spent this much. So. you've completely offset. You've.

completely offset in sec. In fact, you. actually spend more because your. balances have only gone up. Only gone. up. You're above the limit cuz then you. add interest on top of that. Okay, wonderful. But not only that, guess. what? Oh, you need to pay the little. electricity bill over here. That's this. Well, at the same time, you spend the. same damn amount on going out toing eat. and other [ __ ] So, no, this this. first little sliver right here, this. first sliver is not what is preventing.

you from paying your damn bills. It is. the more balance that you're putting on. there. It is the more interest that is. acrewing on there because you are. putting a higher balance on there. It is. your [ __ ] spending. It is for example, just a light little. example. It is in every best case. possible. You. does that make more sense? Yeah, it's Does the drawing get us.

there? Yeah, it's it's not the electric bill. It's the bullet. Kind of. It's There was more than that, but okay. If you walk away with that, that's a that's a start. And you're the. one who's understands finances at all. Like you're the one that's. self-proclaimed. I'm great with this. stuff. I didn't say great. Oh, come on. But you know what you were. thinking. Oh, great. We're getting McDonald's and. audible on here. Go to the library. I gave a generous four. Yeah, but you you you talked up to.

producers. You I know my numbers. I'm. all good at my money. I know, you know. I'm Oh, I know my. budget. I know everything that is. happening. Everything is all good. I'm. this mathematically perfect person who. knows everything about everything. I don't know about the extra 2,000 in. spending that it really doesn't add up. to me. Itch and now I'm itching. I have to pee. There is something in my nose and my. bladder's like. $453 in a checking account. Robin Hood.

You're putting money in Robin Hood. So that that was and then I pulled it. out. Yeah. Yeah. later on when the. finances got tough and I wasn't finding. a job. Okay. I hope that's the only I hope that's not. the only pull out you're doing cuz you. guys cannot afford a kid right now. Zel. z. ash kapp ash cash apple. Oh my gosh, I'm. losing it. Too many of these. Zel apple.

cash. Well, no. So the the all of the. Apple cash things. Apple Cash is. actually payments to the Apple Card. That's what those are because I first. put it into Apple Cash because it. process. Well, in the spreadsheet, Apple Cash. wasn't the big one. It was all the zels. So, z out $25. Chick-fil-A. Affirm. We're affirming. So, there's more. So, there's more. There's hidden more. We're. affirming. What are you affirming? What. possible world are you affirming? That was for uh my level three. certification for arm security.

I didn't have. That's your full-time job, right? Uh. yeah. Yeah. And then I figure just. bumping the credentials for better. What what what are you securing? Uh apartments. And it's I mean the job. is just observing reports. You just like spin in circles and hope. those like go out and just like cut. people like. Chick-fil-A. No, we already did that. Apple Cash. Apple Cash. Zel Apple Cash. Apple Cash. Taco Bell. Zel Cash App. Hobby Lobby. We got to be doing arts and crafts when.

we can't afford bills. That was for a date. Went inside. How long have you guys been. dating? A year. Okay, she'll be fine. QT, you went inside, you got a little. drink or something. Taquitos. Isn't it so funny when our entire. financial life is collapsing and where. there's no chance of retirement and. everything isn't it humorous, guys? Got to cope somehow. Nope. You got to actually make progress. and actually do something about it. instead. $177 in savings. Wow.

Millionaire in no time. I don't even. have access to your Robin Hood. Do you. have money in there anymore? Nope. Pulled it all out. Yeah. Uh once I I think I was struggling. with those minimum payments, so I pulled. that out to pay all the minimum. This is what you specifically have in. your application. I don't have too much. random spending. I don't go crazy on gas. or food. It's not I mean they're usually spread. out, but. but you don't have any money. All your. card card balances are at max or above. max. A dollar honestly on going out to.

eat for you is would be crazy. You don't. understand how what. a dollar for going out to eat. Yes. All your things are above the. balances and you say you can't pay your. damn utilities because of your minimum. payments. Are you kidding me? In what. world can you go out to eat in that. situation? In what world and taking. money from your parents? In what world. do you get to be spoiled? What entitlement do you have? It's what. keeps me keeps me working hard is is. just those small.

It doesn't. No, it doesn't. Cuz guess. you know what? You're right. That's the. first correct thing you said. It is what. keeps you working hard because you have. no other choice but to work hard because. it's keeping you in the position where. your credit cards are only maxed out. So, you have to work hard. You don't get. to take it easy because of those. choices. So, you areing right. You're. correct. Now, how much did you apply for. on a personal loan? Did you get. approved? Is this a thing that's already. happening already? Are you already. destroying yourself? It's sitting in my account cuz I don't.

know how much. 134. So my plan. I could have I could have connected you. with the people uh our partners. in our resources section, the relief app. people. I could have got you connected. with them for like debt negotiations. It's more extreme cases. It's not for. everyone, but I could have got you. connected with them. But instead, you're. doing a personal loan. Yeah, I've. considered those debt negoti. negotiations. Some are bad, some are good. It's just. like anything out there. But again, with. you, you take care of this with a.

personal loan. And guess what? Without. changing your behavior, balances just go. up. It's what keeps me working hard. If that's what you say after all of. this, then you're not going to make any. progress if you pay off your debt with a. personal loan. It's what keeps me. working hard. As a full-time creator, I. can tell you creating engaging videos. takes a lot of time and effort. From. scripting to editing, the whole process. can be a headache. But that's where. Invido AI comes in. With NVIDIA AI, you're in the director's seat, while the.

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month and you'll get access to millions. of royalty-free stock footage, clips, voice cloning, and more. Scan the QR. code on screen or check out the link in. the description below and use my code. Caleb Hammer50 to get two times the. number of video generation credits in. your first month. Yeah. So, the the plan with that was pay. off the Best Buy one, which. I know what your plan was. You already. said it. It's obvious that it's not. going to go the way you're planning. I've seen people on this show the way.

return. No, actually, okay. Two options. Two. options. Okay. I will give you two. options. You can do the personal loan. but close the other cards because you. cannot be trusted to have access to that. money. Okay, that's option one. Or. option two, pay off the personal loan. with that money now and just close it. and call it done. But you cannot be. trusted with that money in your account. from the personal loan. And you cannot. be entrusted with the infinite money. cards on the credit cards. You've proven. that because you have no availability.

available spending on any card more than. a couple dollars. You've proven you. can't be trusted with it in any way. So, those are the two options. Are you. willing to commit to one of those two. options? Are you willing to commit to any of. those two options? Or is ink more. important? Ink's not more important, I think. Are you willing to commit to one of. those two options? Yes. Yes, I could close some cards. The ones that you transfer over, no. matter what. No matter the what? Okay. Look, look at your Just look at your.

history. We can get you to be a credit. card person. And we've had people on the. show that have come on on the follow-ups. channel and they've become credit card. people. It's great. We can get you. there. You're not. This would only. create a more dangerous situation and. more debt for you to pay off. Yeah. Okay. Yeah. Valid concern. So, what cards does that pay off? So, you're putting what towards it. I wanted to start with the highest ones. which are Best Buy. So, Best Buy is gone. Venmo. Venmo's fully. Okay. So, Best Buy and Venmo. And then.

after that, I was going to start hitting. the Discover. No, no, no. What does the personal loan. pay off? Fully those two and then the majority of. Discover. Majority of Discover. It discover it. brings it down to what? I think I so I got paid on Friday and. with that combined should be zero. Okay. Okay. Now you're uh it's 13,000 is. the personal one. 134. What is the minimum monthly payment? Uh 340. Okay. So, as we do your budget, we will now. use that. So, that's the option we're.

doing. What hits your account on a. monthly basis? Little over four. What's a little over four? Um, with the way that they're switching up, um, four, um, should be 4,300. Okay. 4,300. Your minimum payment debts. with everything readjusted now with the. personal loan, your debt, your new debt. payments total will be $1,31.96. What's your rent? Your portion?

Uh, including utilities or no? Well, just rent first. Sure. Include utilities. Sure. Total. thing. Um, I believe it's 1,300 now. Your portion? Yeah. So, our place is uh. Oh, good. Downgrade. It's Yeah, I just suggested the same. Dude, you're you're in Round Rock. You. do not need to be in a place this much. It's a nice place. Claire, what's your new rent? Uh 1,600,

dude. 1,600. Her place is nice. That single bed or double? Double. Yeah. Yeah. That's That's. This is insane. When is your lease up? Uh in January. Okay. Downgrade. Downgrade. Downgrade. So, 1300 with utilities. Is your half. with utilities? Yeah. Is that including internet? Yeah. Okay. Downgrade. My gosh. Okay. your. portion of the phone bill. 250. Oh, good.

Please pay that off and switch to Helium. for 20 bucks a month. Please. That's Is it 240? What is it? Is. it You're not even wearing an Apple. Watch. What is it? I didn't want to wear an Apple Watch cuz. I get distracted. But I have I have the. Ultra. I have an iPad. I have an iPad. Pro. I have the Galaxy S20. iPad Pro, MacBook Pro, and MacBook. Studio. Are youing kidding me? It's pretty nice. A tech is my weakness. That number one. It is mine, too. But you know, you don't.

use it. You don't use the iPad. Well, I use iPad all the time for. everything. Really? Entertainment. You don't use your MacBook. Um, the MacBook I use uh No, I use it. when I'm on the go cuz my Mac Studio. since it's a desktop. Use your iPad. Choose one. Sell the. other. Issue is iPad OS is kind of compared to. Cool. Sell your iPad. It's. buddy make sacrifices. It's financed. How do I And then the the. financing requires the service on it. So.

I' I'd probably be upside down and then. still be stuck paying the service. Financing requires a service on it. Call. them. See what you can do. See if you. can trade in and get rid of it. They. might take a trade in. We need to lower. your The 240 is insane. I mean, this is. insane. How much on room gas? Gas. Um maybe 150. Car insurance. Uh 200 and that's. including renters's insurance. I pay. them bundled. TP fund. $100. You're allowed to. contribute $300 to the grocery. Do you. guys live together? I Yeah, you do.

$300. That's what you can do. Follow the. meal plan. Uh adjusted to your needs in. the budgeting program. Any ongoing. healthcare expenses? This is co-pays. This is prescriptions. currently. No. Okay. Gym. Uh no, it's in the apartments. Yeah. Uh pets. Yeah. Yes. Um, pet food. Um, your portion, let's say seven, uh, 60 a month, maybe. Okay. What are they?

Um, I have a husky and she has a great. Pyrenees. Okay. I only care about yours when we're. talking about your money. So, a husky. Cool. Um, doing $35 for pet insurance. Get it. It'll save you money. Some disagree with it, but it's. literally saved me thousands of dollars. Anything else that needs to be in your. budget? You kill it with rent, man. You destroy this whole thing. But go. ahead. Anything else that needs to be in. your budget.

and she makes less than you at a. restaurant? Uh, yeah. Usually. How are your finances? They're okay. Are they worse than his or better? They're worse. No, that's not honest. Uh, you want to come. on the show next week? No. No. $3,782. is what's needed to survive on a monthly. basis. You have an extra $518. Conveniently, how much was spent on [ __ ].

Hey, like net even. Well, no, you spend more than that. Remember, $2,000 more. But just [ __ ]. alone is what pushes you to the edge. But that extra $500 a month, boom, you. start making you uh 401k loan is paid. off immediately in the first month. Set. the rest aside. Can't get a full one. month emergency fund will take us 6. months. Well, didn't you say the 401k should. wait till after the cards? We're snowballing so you stay motivated. because this is going to be a long. process. Obviously, work your best to increase.

your income through getting a job that. you actually want and sales job at a. place that you want. You're already. working 70 hours a week, right? So you. need to get that 40 hours a week, 50. hours a week somewhere and then get an. extra job. So we need to boost this to. about 5,000 cuz that all of a sudden if. you have an extra thousand instead of. 500 that you can throw your debt, this. is going to accelerate it cuz let's see. if we're talking a six-month emergency. fund with what your debt situation. minimum payments after that would be 6. month emergency fund probably we're.

going to call it 17,000. Okay. Plus 1,31. plus 1,83 plus 244. Wait, your 401k. loan, was that paid off in the. They're not They're not paid off. No, in the personal loan. Uh, no. No, I didn't. It was the Freedom Best Buy. Uh, no, it was it was Best Buy. Sorry, I just I Sorry, never mind. I. just crossed that out. I confused. myself. Okay. Plus 500 5,000.

plus. 5,390. for the freedom. Oh my gosh. Plus 7,36. for the Costco plus the car at 15,676. plus the 13,400. personal loan. So that brings us to you. need to get a total of $62,330. Now that takes at the progress you're. able to make,

not taking in account any interest, but. also not taking into account the extra. payments you put towards it once you pay. off a debt. 120 months. Yeah, that's 10 years. Like, you may as. well go bankrupt at that point because. it would be on your record for 10 years. It might be less stressful. So, um, so. what's the solution to that? Cuz this. cuts you down to bare bones. One, you. downgrade. I need your portion of rent. to be maxed out after utilities at 800. bucks starting at the beginning of the. year. Boom. That doubles the money you. can throw towards the debt. That turns.

it from 10 years to 5 years. Like, is. that not substantial? That's crazy. That's life-changing. Now, where do we go from there? Bring in. an extra $500 to $500 a month in extra. income after taxes through getting that. different job. Uh, and then even working. a second job on top of that. And I think. you'll do better than that. I I do. But. let's just say you do that. Actually, let's just say you add it by. an extra thousand. So, now we have an. extra 2,000 to throw. Okay, cool. Now, it's down from 10 years to 2 and 1/2. years to have a fully funed emergency.

fund in literally no debt. So, that's I. think what we have to do. You need to go. get that job. Finally, get a full-time. job once more in the sales world, which. I think you can, you know, add that. certification plus experience plus a. good resume plus good interview skills. Okay, work on all that. Always easier. said than done. Boom. Get that plus a. part-time job on top of that. And know. maybe the security you can do part-time. Who knows? So, boom. Take that. Try to. bring in $5,300 a month. You do that.

plus downgrading your rent to your. portion being no more than $800 a month. in rent after utilities. You do that, you're out of debt and you have a fully. funded emergency fund in two and a half. years. And two and a half years is. nothing. Goes by in a blink of an eye. So that's what I would do. That's what I. would do. You could go the lazy and also. stressful and also expensive route of. bankruptcy. I wouldn't. But if you want. to keep your life flat, that's what I. would do. Or you can continue doing what. you're doing and you'll be in debt with. no retirement by 65.

That's where you're headed with the way. you're doing it with balances only going. up and borrowing against her 401k to pay. off other debt. That's where you're. going. So that's no longer an option if. you're going to be a big boy and I. highly recommend it. Okay. Yeah. Yeah. A good plan. What do you think? You I I need your. true honest thoughts on that. That's a. lot and this is going to take work. This. is not an easy thing. You put yourself. in a mess. It takes a bit to dig up. Got.

to build the ladder, my dude. So, what. is it? It's probably easier than than. struggling the way I have been. So, I. could probably do that. I couldn't do. that. Will you do it? Do you think you will? We have the follow-up channel. In a year. from now, am I going to see almost half. this debt paid off? Half of it in a year. and a one-mon emergency fund and those. cards closed that we talked about. Yeah. Yeah, I can do it. Okay.

If you I hope so. We'll see you on the. follow-up channel then. Let's get your. hammer financial score now and then. we'll get you a hammer financial score. in a year. See the progress that you've. made. Spending a budget. You overspend. So, it's a zero out of 10 automatically. Debt. You don't have collections, but. your debt is really bad. Plus a 401k. loan can't give you any better than a. one out of 10. Again, you thought you. were four out of 10. Okay. Emergency. fund. The savings was nothing. Zero out. of 10. What was like a 100 bucks? It was. nothing. Retirement, you have a 401k. loan, though it is about a fourth of. your total equity position there. A.

third. Still not good. Hate that you're. doing that. And uh for your age, oh. well, 25. Um can't give you any better. than a two out of 10 for that. Real. estate not a part of the conversation. yet. Zero out of 10. Especially since. you mentioned real estate at the. beginning. Uh-uh. So I mentioned real. estate. What? Yeah. You're like, I needed to get a. house. Oh yeah. Yeah, Hammer financial score rounded. up barely. You barely made the. threshold. We're rounded up one out of. 10. So, make sure to check out all the.

resources linked in the description. below. We're going to bring your. girlfriend in on camera for the post. show. We're going to talk about some. extra drama, some things going on, bringing the producers who know. everything about your life that I don't. know, and it's going to be a good. conversation. So, make sure to stick. around for the post show. You can join. that link in the description below and. get the budgeting and investing program. for 15% off bundled together. See you in. the post show. today on the financial audit post show. Did you know his situation is as we have. discovered today? No.

What did you think it was? I thought it was a lot better. I was. going to have him help me. That's how. uh. but I didn't know about like that he was. over limit. He gets on to me. So, it's. what is your guys' future together?