I Can't Believe She Showed Up Like This | Financial Audit

I'm Mommy Jane. I'm 26. I'm from San. Antonio, and this is Financial Audit. Mama Jane up from San Antonio. What do. you do for a living down there? I am a. part-time student and an entrepreneur. Okay, what are we entrepreneuring? Um I. do CBD retail. Retail. So, are you in. like a store? Do you own a store? online and pop-up events. Pop-up events, okay. So, like people are walking to a. music festival and you have a little. tent. Yes. And you're selling something. So, Sometimes I put on my own events, too, and they just purchase from there. Okay.

Um what are you typically selling? Is it. like infused stuff or. Um most of my product is flower or. um. smokable products. Um. but I do sell a lot of infused products, as well. Cartridges, um. edibles, things So, you're more of a. middleman, right? Yeah. Where are you receiving yours from? Um. it depends. I I try to source from local. people, Okay. from local retailers here in the. area, as well. So, yeah. Um I just kind.

of host the events and sell the. products. I thought you worked for the. city because I have here. what looked like income from the city. I. used to work for the city, actually. My. partner still currently works for the. city. When did you drop? I dropped maybe 2019, right before COVID. Oh, so this is his. I'm looking at his. income. Okay, so it's kind of a couple. thing, but you're going to be here. talking on behalf. Okay. See, he's kind. of shy, a little nervous. A.

He works in the political realm, so we. were just kind of a little bit more. conscious. Interesting. So, is how how. is it for a politician. to be married in Texas to CBD dealing. It's an interesting dynamic, but we keep. it pretty, you know, separate. Sure. But, you know, it it works. What are you bringing in? What are you. bringing in? I'm bringing in about.

400 a month. 400,000? Oh, no. Sorry. No, just $400. Not K, 400. dollars. I do about one event per month. One event brings me roughly anywhere. from. Excuse me, anywhere from 300 to $400. Are we sure you have a. business? Yes. That's about what I bring in from. home. I try to keep most of my finances. separate. So, if I'm taking from my. business, I'm taking about $400.

is in the business? In the business. right now is probably like. Mhm. 6 to $700. Okay. But, we try to keep it separate. I I do. not want to be offensive. I just want to. be straight-up and honest when it comes. to the overall world of business. Sounds. like a hobby. Yeah, right now Yeah. I have a lot of stuff going on. I'm a. student. I have two kids. Student. And you stopped working for the. city 2019. So, that was quite a while.

ago. Now, how long have you been trying. to build this? Um maybe about a year, a. year and a half or so. Mhm. Um just kind. of doing it part-time whenever I'm not. working on school work or with the boys. Where are you going to school? Strayer. What are you studying? Business. administration. Great. Are you. full-time? Part-time. Okay. Mhm. How much to be completed? How much more. do we have left? Almost 68%. I have about less than 2 years.

I should be done by the end of this. year, I believe. Really? I believe so. So, the majority was last year. 4 years. Yeah. And that's part-time? Completing it in 2 years? So, you have a lot of credits you. transferred? Yes, I did transfer a lot. of credits. Cool. What are we trying to do with that. degree? Um make the business successful. That. You don't need a. You're not hiring yourself though. No, I'm not hiring myself, but it's just. I know that in order to make the. business successful I need funds and. because my credit But your degree is not.

going to increase your credit. No, but. it's going to increase my chances for a. job. So you want to get a job? Well, I. yes, to fund my business. Why why did you quit the city? Um, because it COVID happened. I was. pregnant at the time. in 19. No, well, I quit in 19 to pursue. a political campaign. So you like ran for city council or. something? Oh, no. I I helped um, I was. doing the back end stuff of the person. running for city council for the council. position. Okay. You got paid for that?

Yes. Campaign was done, then what? Campaign. was done and then I. stayed home with the baby. Oh, yeah. So. was this the the first birth then from. there? Okay. So how old are your kids. right now? Um, first one is going to be he's going. to be four this year. And second one is going to be two this. year. Wonderful. Mhm. Cool. So, I mean. you're certainly juggling a lot. I'm. just trying to get like an overall. picture of where you're at. So, full-time mama, part-time school,

um, hobby business. Hobby business. What what are you trying to do with your. Um, right now with my career I'm trying. to just break the stigma. So. With your degree? Oh, with my degree. Um, Stigma, what's stigma? The cannabis. stigma uh, with moms and things like. that. So we do a lot of advocacy events. and. things. That's I guess I'm not a part of. the community enough to know that. there's a stigma against moms smoking. something. There is there's somewhat of a stigma. especially in the Who who's caring?

CPS. Oh, okay. Lots of other people care. Legally care. So. Um, but besides that uh, I do. um, like. uh, just the events. Um It's okay. Uh. what do you want to do with your degree? Um with my degree, it's pretty much just. a backup plan, honestly. Just making my. is not a backup plan. Why Why Why is. this the same conversation I've had.

within 7 days where someone's saying. they're getting a degree for a backup. plan? It's not a backup plan. You're. spending years and years and years and. money and money and money doing this. Are you cash flowing college? What does that mean, cash flowing? for college? No. It's not a backup. You're going into. debt for a backup. We don't go into debt. for a backup. We go into If we're going. to go into debt for something, we're. going into it as the primary thing. It's. an investment into it. You don't invest. in a backup unless it's like a backup. battery for your computer or something. in case the power goes out. We don't. invest in a backup like that. That's not. an investment.

Okay. If you're doing a backup, get like. a certification. I do tech. certifications through Course Careers. I. talk about trade schools and stuff like. that. Going and getting a degree as a backup? I love degrees. Get them. Great. That's. like we're going We're pursuing it. because that is what we plan to use in a. career field that we are pursuing. We're. not spending all this time and all this. money, which is debt, for a backup that we probably won't use.

Very true, but it might come in handy. And. while while I run the CBD business. Guys, it's a new year and you need to. make your money work for you. You can do. exactly what I literally do right now. and put my money in the best high-yield. savings account, SoFi. I get a 4.6%. yield on my money, and I also took. advantage of the bonus of up to $250. when I signed up. You can start 2024 off. amazing by doing the same by going to. the link in the description below. So,

the education itself. Yes. You know, there's this great few free. resource out there called YouTube. And a. lot of business owners and stuff, they. put a lot of their just education and. knowledge online. Now, I'm not saying. that replaces a degree. It doesn't in. terms of the degree is often what gets. people in a door. In terms of education, man, there are so many good just free. resources out there. Even if you just uh. like pay for one of the courses online, dude, that teaches you about basics of. running business, man, instead of taking. all the gen ads that you're never going. to use, instead of borrowing all the.

money that is going to be a pain in the. back, it's different. I'm not saying you. won't gain any knowledge from that, not. even close, but there's a lot of extra. steps that you're just not going to take. advantage of, where we could have just. been focusing on learning in a free or. paid way online. Very true. Very true. I feel like I started it, so. now I if I don't finish it. There's a lot of pride stuff that come. with that. I mean, I've heard that from. a lot of people, and it's not unfair. I.

get it. I get it, but I just try to real. real world things. I'm like, "Oh, this. isn't actually going to benefit me, even. though I'm like half of it.". Okay, I'm going to actually go do what. benefits me, instead of wasting my time. and put off what's benefiting me. You have a. uh. a point. It's just you're right, maybe. it is pride. Um. And you're going to complete it this. year? You mean by like the end of this. year? By the end of this year, beginning. of next year. So, that's still a long. time. That's still an entire year. Yeah.

Um I mean, I'm still I'm it's not like. I'm against it by any means. Like. uh as just a concept, and you know, if. you want to finish it out, finish it. out. But when we're trying to get to a. certain goal, man, we have all these. different things you're doing instead of. just focusing up and trying to pursue. the goal completely. It's harder to achieve that goal when. our hands are just in so many different. pots. That's what concerns me. Especially when we're borrowing money to. put our hands in those.

pots. Okay. So, obviously, we're living off the. husband's income. Yes. Okay. Which gross Was this last year's. gross or like I I don't know what the. I think if I'm not mistaken the last. 60 days. Oh, 68,000 gross over the. course of what? It doesn't say. Oh, um Okay. Either way, what's his pay. period? His pay period is every 2 weeks. He gets um. 6,500 a month. Okay. So, yes, three uh.

well, more than that for his gross. But, after withholdings and all the goodies. and all the funds that. uh don't really have a choice in, net. pay for per paycheck uh. 3,124. Yeah? Mhm. Now, not like there. would be much to pay, but are you paying. taxes on your business? Um not not with his paycheck. No, no, no. Are you paying paying taxes? Oh, yes, I'm paying taxes on my business. 300 comes in a month? About. So, total. household income would be.

$6,548. Not too shabby in terms of you're. slightly above the median US household. income. How do we feel living on that? How's life going? Um it should be going. a lot better, I feel like, but we're. just not getting our stuff together as. much as it we should, and I take full. responsibility. I'm not as educated. it just you? No, it he he's really good. at the finances, but I'm not really good. at keeping up with the finances or.

checking them. work in the finances then? If he's. really good, you're not good. Is there not conversations, education? We we do have conversations, but I you. know, I don't know that education is there. He. can only teach me so much. What does that mean? Like. Why are you incapable of learning? No, I'm not incapable of learning. I mean, you're in school, you better not. be. I. I would hope not. Yeah. But, um no, just we sometimes. finances gets heavy when we're talking.

to a partner. So, we try to. keep it civil. That makes sense. That makes sense. I. get it. I wish he was here for this. conversation though. Yeah, me too. Um but I'm sure he's watching. I'll approach it in a way like I am also. discussing. with him even though he won't be able to. hear his side, but I'm just you know, what I think across the board. So. Yeah. Lowe's, we went to Lowe's and got a. credit card. A classic Synchrony. So,

we're just financing a home repair? What. were we doing? Uh yeah, we had bought our first home, so that's when we initially got our. card. When did you get that home? Um in 2020. When did you borrow this initially? Initially in like 2020. How long was the. balance for almost for like over 3. years? Um no, we paid it off and then we had an. emergency expense that. What? Uh. an AC we needed an AC unit. Yeah. Homeownership's not cheap. Yeah. cheap. You didn't have an emergency.

fund? Um we did, but we had the card and. we thought we'd pay it off within the 6. months that we had. Then why did you not pay it off? Uh. that's where I lack knowledge. I I don't. ask at the right questions. So, we don't know why he did not pay it. off? No, I don't know why. Is it still within the interest-free. period? You know, I don't have the full. statement. I don't think it's in the interest-free. period anymore. Or I think it's like. Yeah, it's either that cuz it just. happened recently like.

this summer. So, if not it's probably. about to. Yeah. It ends next month. It. It ends in less than a month from now. Okay. So, this needs to be taken care of. immediately. $30 minimum monthly payment's not going. to get you there cuz there's a balance. of $376,025. But, it ends on the 8th of next month. Okay. We will take care of that. Put your big boy pants on. If this. episode comes up before then, pay it. off. She'll tell you to pay it off. Yes. When you get home. Immediately in the.

car. I'll tell them. Yeah. Oh, he's. here. No, I'll tell I'll give him a. call. Oh, okay. Capital One. Lovely little classic Everyone always. has a Capital One on their show. It's a. classic. Yeah. Previous balance $293. Interest is accruing. WHAT IS THIS? WHAT IS THIS? Whose card is this? Is. this both your cards? Which one is it? One card. I think we have two Capital. Platinum. I think we have two Platinum. cards.

Whose card has a balance of $326? Um that one would be mine. Why aren't you paying? There's a late. fee cuz you're not paying. Why aren't. you paying? Does he know you're not. paying? No. No, he doesn't. It typically. comes out of It's on auto pay, but I. stopped. not. If it's on auto pay, there's no. late fees cuz you pay automatically. The well, there's no funds in that card. anymore. Oh, and the checking account. it's attached to?

Yeah, so it Why? Why? Why is it Why is. there one no money in there and two if. there's no money in there, why haven't. you switched it to something else? Are. you guys just financed separate? Maybe. For the most part, they're together, but. we both have like. we don't have a joint bank account. Why? We just haven't got around to it. Why? Irresponsibility. Everyone's payment's. normally like 30 bucks on here, probably. Mhm. But you owe 61 bucks cuz you're.

you're late. Yes. So, it tried to hit. your account, you didn't have money in. your account, so it went away. Well, you guys don't need separate. checking accounts. You can. You can, but. obviously we lack discipline and we. obviously lack communication around it, so it doesn't make sense. You should. have everything in your guys' situation. combined. Sit down on a monthly basis. basis and go over what has happened. Not. to start arguments and push blame in. terms of Oh. "Oh, why did you spend all this money?". It's not about that. Go over what. happened last month, where do we want to.

be next month in order to hit our. overall goals, and adjust from there. I. just didn't I didn't think about it. We. do not miss minimum monthly payments, dude. That's not a thing. That's not. Total Total fees this year so far. $174. What is that? Seven missed payments. within a year? Within 12 months you've. missed seven of them? Probably. Why? Why are you not taking care of your.

dude? I always forget about it. I don't have a. reminder. Why is there never money in. your checking account? I use cash app. mostly. Why? If that's clearly not working, so. why? It works for me, just not for. No, it doesn't! No, it doesn't! Not for the payments, it doesn't. So, it doesn't work for you. Okay. Well, at the time it was working. for me. What What time? Seven? Seven?

Seven over the course of a year? That's a lot of irresponsibility. Okay. That's. Okay, cool. You acknowledge it. So, awesome. You acknowledge it. Why haven't. you changed anything? You know you're. irresponsible, so why haven't you been. like, "I'm a big girl.". I didn't realize it was seven. times. Dude, if it's one, that's when we. realize. I should have changed it after. the first time. excused if you just sit back and say, "Yeah, it was irresponsibility." I don't. say, "Oh, okay. Handshake. Get out of.

here. You're good to go." That's not how. this is going to work. I I don't I'm not going to let someone. skate by like that. Come on, you've. watched this show. Yeah. Why do you. think you're being irresponsible? Just I. I I'm just trying to get in your. mindset. It's I know that's always a. hard question. Um but. just like if you just think about you, how your actions are going, "Okay, everyone makes a mistake. A missed. payment still hate it, but if it. happened, we're like. "Missed payment. Wow, I'm going to. change my life and never do this again.".

But instead, we did seven. You've recognized you're responsible. Why have you not cared enough. to become mature enough to change that. at some point in your life? I. I didn't think about the interest that. was accruing. I just. thought it was a missed payment. I. didn't think about all the fees and I. I didn't. care? No, I do care. I just that No, it. doesn't look like I care, but I do care.

Tell me what you hope to get out of this. conversation. Um, I'm hoping to figure. out what the where we need to do like to. move forward. Where we need to go. Well, I can tell. you what you need to do, but man for. someone who misses seven payments in 12. months. I could tell you what you need to do all. day. Will you do it? Man, I don't know. I don't know. Yeah, no, for sure. If he. knew, I'm sure we wouldn't have this.

conversation. Yeah, I'm pretty sure. I'm pretty sure. he knows. What's he going to think? Oh, he's going. to be so upset. And how's that going to go? How's that. conversation going to go? What's going. to happen? Um. You know your relationship. It might It. might. go bad, but he'd be patient, I think, and be like, "Okay, well, let's just fix. it." And. and then move forward. You guys need to. be joint on this, man. Yeah, we need to. a team.

goal. and path forward. Well, this is my my way of like taking. forth that team effort and like trying. to step up. I mean, you're brave for being here, but. I'm not going to let things slide. either. Oh, I know. Maybe I'll cry. That that's not me. I don't know PayPal. credit like that. Yeah, that. So he's not the responsible one. SO WHAT. IS THIS? WHERE'S my hope? It is gone. It. is. It is good. Pulled from me, ripped from my existence. cuz he's Louis he's losing interest and.

someone that's losing interest, let me. talk to you. Let me talk to you cuz. you're watching this you're not here. Guess what? If you have a balance, you're only making the minimum of your. payments. and you're losing interest, you are not. purchasing $106. You're not. YOU BROUGHT YOUR BALANCE from $691 to. $774. You are not the responsible one, husband. I wish he was here, but clearly. not. Clearly not.

At least he's at least he's making his. payments. Step in the right direction, but this is hard. I think he needs to be. here. This is up This is upsetting to see. because this whole conversation I was. like, "Okay, cool. We have a We have a. finance a personal finance knowledgeable. person in the relationship that can help. educate and steer the ship.". What's this? You make enough money to. pay off $691. You need to and you need to. $41 minimum monthly payment. What do you. think of this? Did you know this. existed? Um I knew it existed. I just.

did not know how much. Collections. What's in collections? Um. I think a hospital bill or two hospital. bills are in collections. On what? 2018, I think. Okay. How much was it? Oh, well. 1,000. 402. And I'm sorry you went through. whatever medical thing you did. Uh why. was this not paid? I lost the card and. then I lost or and then I got a new. phone cuz I think that.

What card? Is that one not on a card? Or. is that on the statement? You said it was medical bills. Why was it not paid? Just trying to get. some context. I don't know. This one's from a Credit. One Bank. So, we have more collections. somewhere. Yeah, more collections. Okay, why was that not paid? Credit. This one was not paid because I lost the. Credit One app and. never got back in. So, I stopped making. the payment. What the actual. I'm sorry. I don't want to be mean to. you, but all we do is we push download.

forgot password. Oh, yeah. No, I. completely I did didn't have the card. I. didn't have anything. So, you request a. new card. This is not very complicated. We Google Credit One customer support. I. hate Credit One. If anyone deserves not. to get paid back, it's you, Credit One. You're a. I thought it was Capital One for the. longest time. So, That's how they get. people. It shows up in the mail. It. looks like Capital One. We're like, "Oh, Capital One." And we sign up for like. the most predatory credit card. It's. terrible. Trust me. So, Trust.

you for not calling a number that you. can Google very easily. I thought I was trying to get my Capital. One credit card reinstated. and it was not that one. So, I solved. the problem for the $300 credit card. that I had lost that had the $300 debt, but not for this one. We have a car? Yeah, I I I moved to Apple Pay. We have a car? You have a car? What is it? Um a. 20.

20 21. 2100 Accord. Yes. What's the interest. rate on this thing? I don't I don't. think it's too bad. I think it's under. six. Okay. You sure? You're 100% sure? I'm not 100% sure, but I know it's not. that bad. Well, $20,000 is pretty bad. for someone who brings in $50 a month. $500 a month. 50 or 500? Um anywhere between like two two to 400. 400? Yeah, that's a lot of car for that. So, imagine if there was a divorced. We'd never encourage it. We'd never want.

it to happen, but what would you do? With a $400 Yeah, you're bringing $400 a. month or $200 a month or whatever it. was, and this is $407 a month. Wait, this is a lease. They're both leases. Both? Where's the. other one? I don't have another one. Um Give me one. Um the other one is this It's $400, but. there's seven payments left on that one. So, but they're both leases. on this one. Four payments left? Mhm. The other one has seven payments. What.

are you going to do in four months? Um. the other one we're going to buy it, I. believe. Which one? Which No, no, no, no. Okay, I'm on the I'm on I'm on the. uh. um the Honda. Honda On the Honda, I think we're going. to trade it in for something cheaper. I. mean, you're not Well, you're returning. it. Returning it for something cheaper. Another cheaper lease or a. car purchase or Okay, what's the other. car? Uh 2021. Equinox. How much is remaining on that? Seven payments, and they're $400.

What are you going to do when that's. done? I think we're buying that one. How much is it What's the purchase price. going to be? Why don't you send me the. statement? I thought I did. I have the. statement on my phone if you'd like for. me to get it. Yeah? Do it. When you're. doing that, I'm going to take a look at. your. Purchase amount is 20 1 2 3. 20,000? Mhm. Oh. Oh, yeah, we have a total of collections. of $8,740. Oh my gosh. Those I know were medical bills. Why did.

you not pay those? Um at the time, I. think I was still like. living at home, not a lot of money. I. just went to like a. were living at home, why didn't you make. money? I don't know. They're pretty old, like 2018, I think. 20 No, if you were living at home, why. wasn't the extra money going to this? You're living at home. was irresponsible back then. I didn't. think I had to pay that. You didn't think you had to pay that? No, cuz my I thought my dad took care of. my insurance and like my medical bills, but that was not happening. So.

What the is going on? So, these are. your student loans and his student. loans, huh? You're both in public student loan. forgiveness? Just him. Uh I haven't started mine yet. Oh, I only have. What's wrong? Uh that's the husband. So, I only have his. Mhm. Where's yours? Mine. um they. Are yours the $44,451? What kind of student loans are those? I think they're just a generic Sallie. Mae ones. Sallie Mae? I did I think so.

Sallie Mae? I could be wrong. Pull up your credit. Pull up your Credit. Karma right now. Generic Sallie Mae? Like that's just a normal thing. Well, that's the one I always hear. about. So, I always think that that's. the one. Gosh, I feel like I'm being mean to you, but this is just I I I I I. YOU'RE PAST DUE. He's past due. He's. past due. He's past due. He's the. responsible one. He's past due. He. should be here right now. HE'S PAST DUE. YOU HAVE TO MAKE 100 and What is it? 120.

consecutive payments in order to get. this. forgiveness that he's trying to do, but. he's past due. He's not making the. consecutive. payments. And he's at Wait, I think I I. don't want to excuse it, but I think. that's like his job's problem. His job. pays for the It do. What? I Even if it does, even if it does. it's past due. And he's lost all. progress in any kind of forgiveness. Yeah, he needs to figure that out. Yeah, cuz he has $88,000 in student loans. If.

I'm just bailing bailing on forgiveness. of $88,000. $88,000, I'm not just bailing on that. That's not something we're just like. brushing off, dude. That's not something. we're not taking seriously. You know, I honestly. This is not against you. You're a very. lovely person. But, I thought this was. actually going to be a relatively chill. go through the debt, do a budget, you know, financial audit classic type.

But man, the hidden under the under the. rug type. you got going on here is insanity. You know, his student loans and then. both of your student loans together, $10,000 less than your mortgage. Your. mortgage. And we're just we're. essentially. because we're not like. allowing ourselves to be re- responsible. for 1 hour a month to look at this. stuff, you're essentially allowing a. balance like your mortgage to not be.

forgiven. That much. Double your house. Um I don't know how to Kalamazoo is a. lovely place. I swear not everyone from. Kalamazoo is so angry. Your credit score. is. 575. Are you on a mortgage? No. Yeah, I. wouldn't think so. Credit card use is 108%. Payment history. is 95%. Is there a derogatory mark? No, it's federal student loans. Thank. everything. Okay. Thank everything. If they were. Sally Mae, they were private student. loans, then I wouldn't have been. surprised if the interest rates were.

like 10, 12, 15%. Those are probably. like five. Yeah, I don't think they're too too bad. Uh well, I wouldn't say they're good. Well, they're not the greatest. That's. why I dig into people cuz everyone comes. on the show is like, "This isn't great, but it's not that bad either.". It's pretty bad. Cuz the moment the day. that I woke up and realized just how mad. how understood for the first time in my. life how bad the debt was, that's when I got my gear. So, that's. why I want to make very clear just how. bad this is. That's why I dig in. No,

I'm I'm ready to. repayment? What are you doing? For Your. student loans. I'm still in school, so I I'm not You're. on a deferment. That makes sense. Yeah. Yeah. Wait, you're you're borrowing more, aren't you? You're going to You're going. to take it to like 50,000. It's going to get worse. Yeah, probably. Unless I drop out, then. I just pay him back sooner I think. 154,902. dollars mortgage. 1,368. dollars including yep.

Okay, this is this includes insurance, property taxes, all those good stuff. So. 1,368 dollars 89 cents on a monthly. basis. Amazing 3.4% interest rate. Thank you. Incredible. You're welcome. It's not on. your credit, but you're welcome. No, I know. It's it's unheard of. Got a house. I guess we had to go get. solar panels. It was the right thing to. do environmentally. Cool. Congratulations. You can afford uh. This is 27,383. dollars that you owe. Yeah, it's a lot.

of money. are late on multiple accounts. So, right. thing to do for the world, maybe. For. your lives, not even close. 27,383. dollars and 25 cents. 3% interest rate. And normally I would not actually worry. about this. I'd be like, "Oh, you know, okay. This was your only debt, and you know, we had a mortgage on top. of it." In Texas, in San Antonio New. Area, it's going to pay itself off in. what, like a decade or so? So, at least, you know, this in your overall financial picture,

where everything else is, where all the. other debt is, this is adding a. substantial amount of money into the. overall pile that is starting to get out. of control immensely. It Yeah, the student loans definitely. kind of push it over the edge, I think. I was talking about the solar. Oh. Well, yes. I mean, altogether, it. doesn't matter. Individually speaking, it could be any of them that are pushing. you more to the edge. But we're not. making minimum monthly payments on some. accounts. So, we just can't have any. debts. You're not a debt people.

3 dollars 68 cents in your Cash App. We. have Apple bill, some taquitos, pizza. house. taquitos, shotgun house roasters. taquitos, taquitos, Scooter's coffee. Cookie Cutters, Chick-fil-A, Starbucks, Marshalls, Well, Cookie Cutters is for. the boys. They need. their haircuts. Which one? Their haircuts. Cookie. Cutters haircuts. Cookie Cutters is haircuts, okay. Starbucks, they're so young. Why don't. you just like over the sink?

That's done. I tried. Okay. Dad won't. let me touch their hair. They have. Dad, you can't even pay your own bills, so. curls. They have like really nice hair. It's They need to get it taken care of. Listen, I'm Listen, I'm not opposed to. that. Some of the people out there are. going to be like, "Caleb thinks that. uh parents have to cut their kids'. hair." You're missing payments. You're. missing payments. You don't have enough. in this account to make your payments. Yeah. So, like people that like they don't.

need to go out in public cuz they're not. school age yet. I'm just like buzz cut. at this point. I don't even give a We're. just trying to survive. Like we're if we're in survival mode, we're sacrificing. Certainly sacrificing. Starbucks and McDonald's and Panda. Express. Mama Jones, Botanica, we go. there all the time. No, that's um. I have cash sometimes, so I have to. transfer. That's you? That is you. Mama Jones, that's right. Summer Moon, Conva, Sonic, Spotify, we can listen to. ads while we're trying to We can't even.

afford to play with. Amazon, Starbucks, Apple bill, and a Ring subscription. Great. And. here's your account with no money in it. A withdrawal of $4.26 was rejected. Fantastic. Uh well, we also went to Whataburger. Yeah. him? Um what is that one? SoFi. Is this. him? No, that's me, too. Okay, so I don't have his checking. account. So, I don't have a full. picture. I thought you did have his. checking account. Did I look at his checking account? Did. I not send it to you? If I didn't look.

at it right now, then you did not. $79. balance in here. Sonic Drive-Thru, Wing. Daddy Sauce House, Starbucks, Michael's, Hotbox, Taquitos, deposit from savings, $800. We have 1,200 in savings, but we started. with 2,000, so we're draining it just to. make things continue to exist. What is. this? Help me with this. Is this Is this. a health Is this a medical bill? Oh, no. This is a school. This is how much we. pay a week. What the Oh, daycare.

Daycare. Preschool, yeah. Daycare, right? Well, Montessori school. Uh is he. going to go to public school when he. becomes age to go to like kindergarten? is potty trained, we might look at. cheaper options. You guys can't afford. this. I want you to be able to do this. if you want to. Mhm. Just say I'm just going pure math, regardless of whoever's beliefs or. wants. Yeah. Pure math, we're missing payments. We. can't afford this. Yeah. Now, if it is. That doesn't even make sense. I was.

going to say, if we're making more money. by putting them in somewhere, you know, hanging out while Mama Jones goes out. and makes a ton of money. Yeah. Okay, you're paying for it, but you're. making $200. Yeah. So, no. I'd rather you stay home. Well, I'm looking for a jobs to supplement. have you been looking for jobs? For a while now. Okay. For a while now. clearly not taking any job then. No, I'm. applying for a lot of jobs. I have an. interview coming up. I have. um How many jobs do you apply to in a.

week? For a week? Um anywhere between 10. to 15. No, that's not Those are rookie. numbers. We got to We got to get those. numbers up. Okay. Yeah. Okay. 10 to 15 a day. If we're really looking. for a job, we're applying to jobs like. it's a full-time job. And you'll accept. anything. You'll accept McDonald's for a. couple months while you're waiting for. the better job. You will accept. anything. Money that comes in. $200 is. not going to do it when we're missing. payments. Not going to do it. Got you. 42% of the income goes to. housing, which is too much. Transportation, 9.8.

Also, uh for two cars. Mhm. Uh accept. Going out to eat 6% that's 6%. that could be going to debt only 0.6%. went to paying off debt by the way. 0.6% of the large purchases 36% Takito. type 2.6% let's see what those are the. large purchases. The hot box. Cash app and out Amazon rent auto. purchase what's that? For textbooks right? I think so. And.

then Montessori school which is a lot. it's $1,000 a month. It is. So that's. $1,000 a month. You guys aren't renting. you have mortgage. We also rent. What? What possibly? Our house is we have a. house that's being rented out and it's. paid for. We we had to move. you mean paid for? There's no mortgage? No well we're not paying for it it's. being paid for by the renter.

Are you cash flowing? Is there anything extra on top of the. mortgage? Okay so it's flat breaking. even why? Why are we even doing that? We. had to move to San Marcos. in January of last year and then for a. job opportunity and then we immediately. moved back and Say San Marcos again. San. Marcos I love that I've never heard it. pronounced like that. Thank you. So it's. such a cool city name I don't know how. to pronounce it like that so much. cooler. I can't do that because if I did. that someone would call me a racist out.

there if I tried to pronounce it like. that. Yeah. Cuz it's the internet but. sounds the what. That city just got elevated 10 points by. that pronunciation. Thank you. Yeah. Well yeah so we moved out there. um. and then like 6 months later had to move. back but the house is still being. occupied so. we have to So what's your rent? Our rent. is 22. Okay let me get these minimum to. have debt payments of what should be. So, when's his lease up? Or the person's.

lease up that's renting? Um I think we're giving them till. December. And when's your lease up? Ours is lease. Our lease is up in June. Well, so we're paying for two places for. half a year. They're guaranteed to stay there, so. What are you going to do come June? Um. we're looking to either You're going to. have to month-to-month somewhere. Month-to-month or move somewhere. cheaper. Month-to-month. Do month. month-to-month because once that.

person's out, I want you back in that. house. I do not want there to be an. overlap. Mhm. Okay. Uh food, we're going to do. $900 a month. Only groceries. Toilet paper. This is extra things we need to live, you know. Diapers, all the all the stuff. for the house. And then we'll do 250. Toilet paper. and you know, toothpaste, all the good. stuff. Okay, Montessori, 1,000.

You're probably contracted, aren't you? Um no, we're not. He could. anytime? We can technically drop. anytime, but the reason I'm looking for. another job is to put the second baby in. Montessori. How much in utilities and internet? Um utilities and internet, I know we pay. anywhere from like 70 to 90 in water and. I don't know the light bill off the top. Oh, come on.

Yeah. I could have sworn everything was in. there. You're both going to. I do have a list of all the expenses. Let me take a look. You're both dramatically behind on. retirement, by the way. He has 4,500. I. have no idea what you have. Uh. besides the 1,000, it's You guys are. dramatically behind on retirement. It can't be all your bills on such a. small list. Hey, someone liked your. story. Okay. What's this home repair. thing? I'm not too sure what that one. is. Does it need to be in the budget,

apparently? Maybe not. Oh my gosh. Okay, 55 for Spectrum. Yep, Xbox Live is. canceled. That's not a thing. You guys. are affirming things. Stop. Renters insurance 11. I think I think we paid off Affirm. We. shouldn't have Affirm on there anymore. Okay, why did you not see any utilities? I'm going to guess. it's going to be an extra 200 total. across everything. So, 255. Okay. Car insurance, no, renters. insurance and car. How is car insurance.

not in here? Do you guys have car. insurance? Yes, we do have car. insurance. not a spreadsheet. If you guys do not. have everything in the spreadsheet, there's no point in this. Go through our budgeting program and. then do our budgeting review that we're. going to give to you for free, link in. the description below. Do that and it. will just. we'll all detailedly look into your. hours and hours and hours and we'll. give you a complete rundown and just how. everything What's your car insurance? Um our car insurance is probably like. 100 bucks or something. That for both of you?

Uh for both of the cars, yes. Phone. bills? Um 210. Gas I'd say is Vroom vroom gas. 40 a week. So, maybe 80 a week per for both of us. Jeez. Long commutes? Um yeah. Our my. sitter my mom is on the south and we're. on the north. She's the sitter? Does she work? sits for one of them. Her work is.

loving our family. So, even okay, if we. take his money, oh, yeah, mostly his. His income. and add the rent that's coming in to. negate one of the budget. I know it's. another interruption, but you can get. $5,000 by listening to the end of this. Right now, if you transfer your. portfolio to Moomoo, which I personally. use for my individual stock picks, you. can get up to $5,000. It's literally.

free money and an amazing investment. platform. It's what I personally use, so. check it out in the description below. I. highly recommend it. We're negative $6. You guys are not making enough money. So, the actual solution is you. need to go get another job. You need to. First of all, follow this budget to a T, and I'm sure there's more stuff in life. Couldn't tell. You're going to go. through our program, and then do the. budget review, and we'll actually find. it. But, uh you probably need to bring you. need to bring in probably an extra. $2,000, $2,500 a month. Because then, we.

can pay off these cards, some of them. within a month, multiple cards within a. month. So, we need to just pay it off. We just need to go make more income and. start paying this crap off. Negotiate. the collections. The cars are interesting cuz you have a. few more payments, and then we got to. figure out what we're doing with the. cars. You want to buy a $20,000 car, so you're. probably going to borrow against that. And then, I doubt his credit's great if. he's missing payments, and maybe it was. good at some point, but It's better than.

mine, but it's. Well, almost everyone's credit score is. better than yours. Love you. That's fair. But, uh yeah. But, if we start attacking these cars. and actually paying them off and making. your payments on time, by the way, your. credit score is going to go up. dramatically. I think so. I have. It will. Uh but, in order to do that, I need you. to bring in $2,000 a month minimum. So, you need to go make some. Yeah, and. if if your friends want to support Mama. Jane's Botanica.com. Uh $2,600.

$2,600. If you work 15. 15 hours an hour for. 40 hours a week, it's $2,600 a month. Okay. $15 an hour a week. Yeah, so all. I'm saying is that know you can get a. job at McDonald's for $15 an hour in San. Antonio. Yeah. So, that's not the dream job. That's not. what we want to do. But, go get that. today cuz they're hiring people for late. night crap. And it sucks. It's going to. be It's not going to be fun. You're. going to be away from the family. But, we're sacrificing for the family and for. the kids' future so that by the time a.

lot of their core memories are formed, it's not mom and dad, you know, having. to worry about debt. Yeah. Mom and dad. living that life that. they've always dreamed of living and. contributing to their future so that by. the way, they're not morally responsible. to take care of you guys when you're old. as and can't work anymore and. social security might not be around. So, Yeah. so I would do this and then I. would also apply to other jobs like it's. a full-time job so you can get the job. that you prefer and hopefully with more. money as well. But, this after taxes,

which won't be that much, and you might put the botanical side on. just on the side until we take care of. the debt cuz the debt. Yeah. Having all the debt while doing. school, while having a business, while. trying to take care of kids, it's just. It's adding such a massive risk profile. to your overall situation that just. doesn't make sense in this business. hobby ownership situation that you're. in. Yeah. Once we're out of debt, go all. in on it. I'm all about it because he. makes a good income. You guys with his. income alone are above the median.

household income and you're able to take. more risk. Right now, the risk profile. is so high because of all the debt and. the minimum monthly payments that you've. locked yourself into. In fact, you said. once you go get this job, you're going. to put him in Montessori school as well. So, that's going to be a thousand. dollars taken away from this. So, that's. only going to give you like an extra. thousand dollars a month. Thousand. dollars a month on top of all the not. paying off the debt, it's going to take. years and years and years and years and. years. So, this is really. We need to start making sacrifices. I'd. take both out, try to look for different. public options that maybe you can take. advantage through his position.

Um, get them in public schools. immediately. Put them Transfer them to. the programs you want when you can. afford it. You're missing payments on. the tightest budget I could come up. with, which is probably missing a couple. things cuz this is like we do a. loosey-goosey and then we form and work. constructively after the. um show. You're negative what? What was it? Negative $4, negative $6? We can't. afford it. We can't afford what we want. Very negative. I know. But.

the solution is if you actually. sacrifice you have for. Okay, back to the negative. Real quick. Another hard part about this is you guys. have to be on the same page. If he's not. on the same page with you about this or. you're not able to go with this, but. he's willing to, whatever it is or. neither of you are, um. then we're not going to make any. progress either. So, what the exciting. thing is if you guys are able to get on. the same page page. If you're able to. sacrifice and reduce your budget to. practically the basic minimums and you.

just go, grind and make that extra money, you can. you can get out of this within a couple. years. You could get out of this in. Student loans is going to be a risky. situation. He can go for the public. thing. I don't know what you're going to. take advantage of, maybe some. income-based thing. I'm not sure. You're. in school right now, so it's deferred, but. it's going to take a long time, especially if the student loans have to. be paid back in full. I'm sorry. I wish it was more uplifting. Um. you can get out of it. You can.

It just really depends what you do, decide to do when you leave the store. Sometimes I can and why I thought this. was going to be a audit classic is I. thought I was going to give you the hey, this will be done in 14 months. Fully. funded emergency fund after that. I. thought so, too. I'm I'm surprised. Negative $4, negative $6. So, it doesn't. work. You need to go make some money. We'll do the budget review. We'll do all. that. We'll help you along the way. Okay. But. right now it's just what are you willing. to sacrifice and get.

done. Any final thoughts? Any final questions? I need to bring more income into the. household. in order to make an actual difference. cuz this is not feasible. We can't Will you? I will. I will I will. full-time job search. and. put put some stuff on hold. in order to get this done cuz. it's not about me. So. When it comes to spending in a budget,

fun fact, if you're not making your. minimum monthly payments, that's going. to be a zero out of 10. Debt, if you're. not making your minimum monthly payments. and you're in collections, uh zero out. of 10. Emergency fund had $1,000, so you. know, 10% there, I'll give her a one out. of 10. Retirement, she has nothing, zero. out of 10. Real estate, weird situation with the house and the. renting and you know, that overlap, it's. kind of confusing. Who knows what the. tenant is even doing in the house. So, though they have a score, it's going to. be on the lower side of a four out of. 10, which brings them to a Hammer. Financial score one out of 10. Make sure.

to check out all the resources linked in. the description below. They are what I. use or would use in specific situations, including the best pro budgeting program. ever made. Thanks to all of our Patreon. producers for making this episode. possible. If you want to participate in. an episode of Financial Audit and you're. able to make it to Austin, Texas, please. fill out an application and the survey. linked in the description below. You can. also send a link to your friends or. family who you think might be good to be. on the show. If you have any questions, you can email casting@calebhammer.com.