I Can't Take Anymore | Financial Audit

hi my name is Joseph I'm 33 years old. I'm based out of Austin Texas born and. raised and this is financial audit. Joseph welcome back this is a follow-up. episode your fourth follow-up episode. you do not have needed to see any. episode before this because this is just. going to be like any other Financial. audit except what special is we have the. money guy singular because there's two. of them so we are money guy welcome. money guy so Joseph so you've been on. more than any other guest and the reason. is because sure maybe made a little.

progress a couple times over a few. episodes but there's still so many. issues to deal with that you just. weren't dealing with so maybe my. Approach that personally works on me and. works on a lot of other people but. doesn't work on some might not work on. you so I brought in the most. knowledgeable people from YouTube. Finance so that's why that's why they're. all here what a compliment yeah well I. mean that I I mean that seriously uh I I. don't think there's anyone more. qualified when it comes to actual. finances who's on finance YouTube right.

I love it I know we'll take the. compliment yeah so we're going to see if. we're going to go through everything. just like a normal audit but feel free. to jump in anytime and I'll set you guys. up as well and then ask them any. questions and I don't know man I'm. cheering for you more than like almost. any guest you give me phone calls every. once in a while we chat I want you to do. well I want you to do so well and you. came in here the first time taking out. payday loans just insane 500 600% payday. loans and you weren't paying them off.

you were letting things go to. collections you were just allowing so. much to go wrong cleaned that up a. little but we still struggled with a lot. of things you were talking about last. time even though you're making barely. any money upgrading your uh rent to a. much more expensive place first of all. did you decide to do that no good lad. what's your rent the rent is uh it. jumped up a bit to 640 and that's fine. because I looked up on Austin though. yeah I looked around I was like okay. yeah you can get away with it so.

what is your job these days and what. what are you making um still uh do the. airport it's a 20 an hour so no we. talked about potential different uh. career paths and I know it's been over. six months since we had an episode and. I've specifically talking to managers uh. it has been over six months right yes I. remember I think January February you. giving a face I wasn't 100% sure but. there have been managers on the show. from waterburger who say okay dude you. can start at waterburger and with 6. months training and moving up as long as.

you are a good worker and hard you could. be making $80,000 as a manager a water. Burger I know it's kind of. exciting we talked about different. potential career paths to get you more. money and you always talk about wanting. to get more money so you have more. ability to you know catch up catch up in. life because you're in your mid-30s $0. for retirement and paying off the debts. and trying to take control of your. situation why did you stay where you are. even though we talked about potentially. the opposite well my expenses kind of.

reduced drastically go on um I think uh. I'd rather save that for when we get. into the when we go through the bills. yeah okay don't want to I want to leave. a little to the imagination for now okay. all right also I was really build. suspense I'm on the edge of my seat on I. was I was really excited when you called. and said like hey uh um Brian and Bo are. coming to Austin if you can uh money. guys to uh to record we're we're going. to see each other on this day and I was. like oh that sounds cool I'm not going.

yeah I can't miss that then we hung up. and I was like wait a minute this is an. intervention okay I I do have a quick. question when I watched your show last. Joseph you you had mentioned that you. had an outstanding tax bill do you still. have an outstanding tax bill a lean or. with the RS what you have going on with. that I have taken into account um that I. would be paying I think Caleb you. mentioned that you could do this. quarterly but they were to do that. monthly just that was when you were.

self-employed are you self-employed no. longer no but don't I still owe those. Tex wa wait I'm not exactly sure that. context for that I. think did I say that on like I watched. the I was just a gig worker and I've. been doing that for like since 2015 on. oh what I was recommending for a lot of. the gig work was uh doing taxx that's. different than owing back taxes what are. you owing in back taxes though cuz I. know we were going to talk about debts. and things like that remember I saw a. letter in the mail for about five. figures okay so I want to knock that out.

of the way before um did. you uh no but I want to have you not. touched it have you talked to the IRS. try to get a payment plan anything. before potential legal action or W I. could get yes exactly but I've taken. that into. account like say like 250 a month going. into this month next month instead of. actually taking care of your situation. like you're actually paying that to the. IRS or the 250 a month right now oh I I. think you're saying I think he's saying.

he's taking that into account for his. fut I do my expenses like okay 250 is. going to TX maybe more no so I I haven't. gone about calling them yet when I. watched your show I found myself yelling. at the screen a little bit and I want to. tell you cuz there's a a tool and and I. can even send it to Caleb after the show. the IRS offers offering compromise you. know for for anybody who has outstanding. debts and there's concern that it's not. collectible and they even have a.

feasibility tool built on the IRS. website to let you kind of go through. have you gone down that process to see. if maybe you can work out a compromise. with the IRS because they don't want. people to be so far in debt that you. can't function so you they do have a. process to kind of minimize. that you ever have you ever heard of. that or gone down that that pathway no. thank you for that too okay well I'm. going to send you the links yes and um. you want to try that as well as get on. some some type of installment basis.

because unfortunately the the the the. outstanding liability just keeps. building on itself and interest rates. are now pretty hard it's about 15,000. wasn't it yeah something crazy yeah. that's what I remembered it was 15,000. so imagine if you did do the offering. compromise hey I can't I can't do this. but can we get on a plan where I can pay. you back 8,000 and I'll pay this much. every think about what that would do for. you uh yeah that'd be that'd be a huge. opportunity you ought at least look into. save a good chunk of salary too you is. that something you're actually. interested in cuz sounds like you.

haven't tried to pursue anything you're. just literally assuming that 250 bucks. is going to be taken out of your account. in the future from your. pay and that's not that's not too. generous is it you just haven't taken. action so I'm curious if you're even. though there's this resource that again. the most knowledgeable people I think in. Finance on YouTube are you know they're. going to send our way so we can send. your way is that something you would. actually pursue the last the last couple. of months I've been focusing on um I.

guess what I call a Triforce system. where like I figure out okay the the. checks my checks are going all into high. yield savings and every month every. first of the month I withdraw from the. high yield savings what I need to pay my. bills and then for and then for. allowance so I have three different. accounts and so like once I have that. sorted out I was like okay what do I. have left to pay for taxes no offense. but as someone who has gone on a worse. debt than you were in at the. beginning why not follow what what I've. said for three episodes why make some.

triangle plan why a triangle plan what. I've said what to do damn it I. failed no I mean I'm glad okay I'm glad. you're taking step I'm just so confused. why we're sitting here and you're like. I've created this brand new invention of. a plan which just sounds convoluted and. complicated for no reason you're not. taking advantage of the things that are. actually taken advantage of and how you. savings that money's not sitting there. it's not. growing weren't listening to what I said.

sorry guys I get loud sometimes no. that's okay so I want to make sure. understand this try you have you have. these three accounts right you have a. high yield account and then you have and. then you pull money out and that goes. into a bill account and then your third. account would call it the bill account. yes is an allowance account yes I'm. assuming that's like spending bills and. high Yi is debt coming out of your bill. account like are you actually decreasing. your debt through time or are you just. covering the bill I was thinking the the. IRS the debt to IRS could go in the bill.

account it could but it hasn't like. what's going in the bill account right. now well like for this month I was just. going to leave like two to 300 now was. just for the just for the taxes and I. was thinking of talking to. um well I was going to go like Sun Loans. about seeing how to get tax preparation. buddy it's been over six months yeah you. said this month was it your last thing. in like January February like what's. happened in the you know the eight or. nine months since. then uh um oh because I told you.

recently you'd be coming on the show so. you're like it's time to actually fix. what I should have fixed the last eight. months buddy I love you too much for you. to just around like. that sorry sorry question yeah I'm only. listening I have no retort to that yeah. well it's good to get reasons why so we. can at least know how to address what do. you want like like when you think about. your financial situation where you are. today what do you want to look different.

a year from now like what would be a. positive hey forget the steps forget the. things you have to do forget the advice. that you're going to get from the three. of us yeah what's the outcome that you. would like to see are you running short. for ideas on short videos today's video. sponsor Opus clip can help you with just. that Opus clip is the ultimate AI tool. that is changing the short form game it. takes any piece of long form content and. turns it into shorts the tool is super. easy easy to use just drop your YouTube.

video link or import from Google Drive. into. opus.one sounds a bit.

ambitious but I'm looking at um well. first the credit score needs to come up. and. then um look at um look at houses okay. so you want to improve your credit score. the reason why you would improve it in. credit score so that you could borrow. more money I'm not going to fault you on. that right because buying a house is you. know that's a necessary thing so you. want to improve your credit score so one. day you can be a homeowner right so. that's like this end that's this goal. way down the line back forward little or.

back up a little bit from that before. you get to home. ownership what's the goal that you what. do you want your life to look like six. months before you buy a. home get halfway done with. the um the tax paying the taxes before. I'm. garnished when how long would it take. until because these have been on back. for years $15,000 of debt it has to be. years right yeah I I would like to know. how much debt you have because I know.

that's where we were talk I'd like to. kind of just know how how how far. because I think those are noble. causes to to get your credit score up to. do the house and I and I want to give. you a compliment too because you you. were nice enough you sent us some of. these account statements I did notice. and I don't know if it's because you. knew you were coming on Caleb show but. in August or July you had tons of. transactions on the credit card and I. mean I was like whoa what why is J even. using a credit card but then noticed was.

not in the plan yeah last month's credit. card it was like it was a desert of. transactions it was just like payments. and no spending hardly I mean you did. have some but I was like wow so I mean. you can shut it down when you want to. and I I wonder if it's the. accountability and and the and the the. awesome highness that Caleb can take his. notes to the dollar bill Bros which is. our Trio name I guess has to audit you. every month so that the previous month. is the desert of spending. you know what else is a noble exercise.

by the way right hitting that subscribe. button because we're trying to get to. look at that we're trying to get to a. million subscribers and thank you all so. much and thank you for being the guest. on the show and thank you to everyone. who has been a guest thank you for. visiting us uh should we go through your. debts yeah I'd like yeah please let's uh. get the roasting over with so this this. Capital One this is your mom's correct. uh yes we talked about how to. potentially address this solution when. you say your mom what does that mean who.

social security number is this. Tod the uh the interesting thing about. that is um we uh she she says oh yeah we. pay it back every month but at one month. in. particular um I guess my. brother used it a bit who who's who's. who's whose social security number is. tied to this yours or your mother's or. somebody else both of ours because a. join account then yeah because like my. my credit score is affected by it who so. yours is first on the account uh believe.

hers cuz I tagged along with her okay. yeah either way it impacts both of ours. in the month where you didn't know you. were going to be audited what did we do. okay we made a little bit of a payment. to the $2,610 that's awesome but then. you went purchased. $1,718 while interest is being aced of. 8658 bringing it from a total balance of. 2,600 to. 3,600 because you knew you wouldn't be. on the show so accountability. you knew accountability wouldn't be put.

in front of you so we're just like we. can around we can just spend on Water. Burger things that uh uh your service. work your service work getting a car. wash we're washing our car money we. can't pay off debt uh Rent A Car who. knows I I don't know why that's. happening you can answer that in a. second Spotify guess what we can listen. to ads when we cannot pay off debt we. can listen to ads and this has. to that's like a double account Spotify. isn't it that's a little more expensive. than normal Spotify chipot play Cinemark.

Theaters at least go to a real movie. theater like Alamo Mo Draft House Hobby. Lobby we can do free Hobbies I promise. we're taking lift rides we're getting. going to the deli we're going to cinear. again are these all you are you the one. doing yeah who's swiping this car or is. this your mom and your brother who's. doing this okay plot twist none of those. are mine oh no I just couldn't help. myself what do you mean you could what. what does that possibly mean I was like. okay okay I'm I haven't done any or much. BS spending.

personally but those were all like. either my mom or my brother's because. that's just kind. of and just racked it up but here you'll. you happy to know this well hopefully. there's like snuff video of them cutting. up the cards and setting them on fire so. and that's why you don't and what. happened what caused that you only see. the Spotify transaction because they for. um they forgot to lock the card so I. took care of that I was say there's a. lot more eating out but I mean you just.

said what you said so what caused that. what what took us to that what what was. the cause between uh what was this July. and August I think my brother he had no. well he was just graduating college and. he was low didn't have money um so he's. like hey I still have this card so swipe. swipe swipe I was like okay whatever. it's your last month of. college what does it what I'm confused. how that equals US chopping up the cards. and catching them this this was all. that what caused that uh my mom says.

like you know what we should get into a. house cuz like the rent that we're. paying it would be. cheaper to go split a mortgage versus. pay rent so I think uh I mean this is. just my perspective in the way you're. talking in the way your parents have. talked the goal of getting out of debt. is not a goal within itself it sounds. like you guys need that goal that is. further beyond that and for both of you. guys it sounds like house is that goal. so getting out of debt getting the. credit score up in order to take.

advantage of a mortgage on a house. sounds like what you guys actually want. to do but getting out of debt itself is. not a goal enough I'm just. balancing at what point so like when I. have a a savings at what point should. I is it safe to just pay off. debt you know what I mean like should I. save a th000 or 2,000 then pay off the. credit card or this is how I like to do. and I know how you guys do it as well I. mean there's Dave Ramsey who does a. thousand I don't like that cuz people. have been on the show and they've. emergencies and more emergencies cost.

$1,000 than ever before then they end up. in a worse situation than they were. before they save $1,000 okay lovely I do. a one month emergency fund or two months. if you have kids and you guys are cover. all uh D highest deductible first yeah. highest go look at all your insurance. primarily your health insurance probably. going to be the highest so get your. highest deductible covered and then. let's let's start attacking the debt. yeah so that could be a number if you. added that all up that could be okay we. have that then we attack the debt just. okay 1500 so next check is going. straight to the just credit card.

payments then yeah I mean your interest. rate on your credit cards Joseph when I. was looking at this was like I didn't. even know existed I mean I thought. credit cards were above 20 you know I I. hear people talking about 20% yours was. north of 30% so welcome to financial. audit I mean I couldn't believe it I. mean and because I mean it breaks my. heart because a good investment year is. if I can get you 8 to 10% and then when. I see that the credit card companies are. are charging you 30% it's criminal you.

you won't it it's definitely punitive to. the point that you can't get away from. it so that's why once you get your your. highest deductible covered in our eyes. you you've got to just in un without. Mercy destroy whatever debts before you. because 30% you'll never recover from if. you don't just pay it off $516 61 as of. July has been stolen from you this year. in interest on Justice card thank you Mr. Brian um no but uh my no thank you Mr.

Hammer I. gu so is is the. 36 good cop bad so so you ripped up the. credit card it's not getting used. anymore but there's still a balance of. $3,600 on that is that who's going to. pay that off is that you is that your. mom is that your brother who who does. this debt belong to today how's the. conversations been surrounding that well. my my thought process like is like okay. if we're going to go if we're going to. split a. mortgage I will'll need a signature and. by signature I mean we will need like. each party will need like.

$7,500 and that's like 5,000 towards the. down payment and 2500 towards the uh. just towards an emergency fund because. with ourl something's about happen any. month and um but as far as the card um. been taking care between my mom and. myself really so the two of you are. going to are responsible for this $3,600. the two of you will knock that up if you. guys like decided like joint like is it. going to be. 50/50 have we gotten that in depth well.

it would we could do 50/50 but I can. afford to take knock it out faster. because my expenses are lower because I. mean I could throw a few checks at it. like I I can have it taken care of it a. month my question was just if like can I. do it with like you recommend I do it. with ,500 in savings 2,000 in savings. because I have like a th000 in savings. right now I mean but Joseph you're. trying to make these things coexist that. they don't I don't see how they can. coexist you can't get a mortgage in a. house while you're running this debt I.

mean you both the credit card as well as. the IRS debt I think just being honest. with you I think it needs to be gone I. mean you're you're skipping steps and. it's it's kind of dreaming and not. connected to reality plus a six-month. emergency fund before we even consider. Putting a down payment year how so. what's your what is your health. insurance deductable right now do you. know how much you are responsible for in. your health insurance I was um and I was. under the impression that I was enrolled. in I didn't see like a $50 deductible.

from my check Joseph we talked about. this as well I said get on your. workplaces health insurance no I did or. so I thought like cuz we we had a. conversation at the toward the end of I. did talk about that a lot toward the end. of September it's like oh yeah you're. you're good to go starting in October. and so I thought like with my first. payday from October that I'd see like a. you know some kind of deductible or some. kind of dedu you know production on the. H gu I didn't see it so uh I'm GNA talk. with them about that tomorrow like. tomorrow like yesterday like that has to.

be something right like you are flying. naked right now that's not a good look. you don't want to be there right you. know what I mean that's that's a. southern one so do you know what the. deductible on your health insurance once. it's in place let's go roughly $50 a. week but that's just the deduction. that's not the deductible like if you. how much do you have to spend before. deduction oh yeah the. deductible I don't remember to be honest. cuz just to let you know health. insurance and a lot of and I haven't we. don't know we haven't seen your policy. but they the most most of them now just. are are glorified discount programs.

where they still want you paying like. you go to the doctor the the doctors go. try to charge $300 but they'll and then. insurance come and go no no no we're not. going to let you charge us $300 because. we're part of this insurance it's $80. and then they're going to send you a. bill for $80 and that's what you've got. to cover all those out of pockets and. and if you spend enough if you had a lot. of medical stuff you would reach a. deductible amount where they'd say okay. finally we'll we'll cover more than. Joseph and your family would but right.

now I bet it's just a discount program. so you need to not only have the. deduction but the deductible covered as. well so you said you have $1,000 Dollar. in savings right now yes we don't know. the deductible and you and you said good. job by the way and you said what the. goal according to your plan would be one. month of expenses that's what I like. just to make it simple sure what's your. burn rate like what does it cost you. because you just told us that your rent. was what down to or up to 640 mon well. actually I will say we will Fe figure. that out we will figure out that burn.

rate we will create his budget I love it. what's a burn rate how much you spend oh. okay. I'm is to get to on that cash cuz then. everything else above whatever that. number we uncovers has to go towards the. debt like that it has to like militantly. go towards that 100% of it yep. absolutely let's continue going through. and then we'll create your budget and. see like where your money should go and. where it's actually going right. now the debt right is that it that's all. the deck correct the car the car I know.

the car has been a thorn in me every. single time not. anymore give. us so uh you you remember. how I said uh that car is going to like. I did the boy math and said well it's a. $144,000 car but I was charged about. 22,000 after interest and packages um. but like whatever it's going to last a. million miles it's a great value this. thing was at like 25% yeah uh something. comical and uh yeah I was kind of hyping.

up how that car was Immortal and uh it. got totaled no but you had so does this. explain all the lift I am intact uh lift. I all the oh okay keep going my brother. to get around I believe or some yeah so. your car got total mhm tell us so I no. longer have a car payment okay so the. insurance fully wiped it yeah Insurance. cut your check so that was check and. paid off the car that was the one time I.

invery made a good decision cuz I wanted. to give you a high five but and you're. okay yeah that was I'm actually really. grateful for the dude that hit. me sure cuz had I gone any slower or he. gone any faster he'd have hit me. directly okay well he did wow he hit me. like in the rear the driver rear and we. just 180 the Honda 20 is just a heavy. car so we just 180 and it's like did you.

have to go to the hospital or get seen. by anyone I was really really sore the. next day but after that I was fine um so. good I'm not disabled I can still make. an income how'd you get here how are you. getting around um bus which is what I. recommended interestingly left was it. was it not before we don't have the. worst bus Network in the world don't. have the best we don't have the worst. you can make it places it's B tier but. you work at the airport and if there's a. place buses go to it's the airport it's. going to be Airport sure I did the I. figured out the logistics like okay can.

I make it via bus yes I can but when can. I make it it's was like okay I can't. make it at 4 in the morning so I had to. get a schedule change yes so yeah well. good on you for doing that though and I. am glad that you yeah that you wiped. this so all we have is. $36 I took care of the car debt and. 15,000 taxes no other debt is that. correct or the insurance yeah Insurance. did is that correct those are the two. debts though Capital One and one and IRS. yes nothing else and the the the current. the current balance on the Capital One.

is 30 uh 356 okay before before you call. me out for lying I did uh honest for. honestly forget that uh there uh because. I was talking to to someone at uh one of. the debt holders collectors oh cuz the. collections agencies right and I was. like yeah I'd like to take care of this. because I got the time I had like about. uh like I just got paid I like yeah let. me just take care of these collections. get my credit up and uh they said well. what we can do we can dispute it and you.

w have to pay anything and I was a bit. cynical I was like okay how much is this. going to cost me it's like oh okay it's. a case by case basis and then it's like. I I for I was getting this script like. twice in a row so I got really. suspicious like okay this is a going to. see what yeah what they have to say. about it or that's or that's like that. that's how it ended though yeah cuz I. wasn't really I wasn't too comfortable. like okay let me give you my credit card. you didn't give them that you're so. number or any your dates of birth any of.

that stuff you didn't on this debt cons. asked me man as well. well yeah you're right I'm sorry Caleb I. should have called you right then and. then he calls me once a month and we. talk you could have asked me that yeah. but then I thought like what if I just. come on and ask on the show oh cuz I. wasn't sure cuz like the interest. there's no accur accruing interest in. collection so it's like I thought of you. know so so you do have dead in. collections too yeah can you pull up. your credit karma let's take a look.

okay I'm going to screenshot it and send. it with my four kilobytes of okay head. memory can you just pull it up so I can. scroll yeah but oh yeah you can send us. that later if you. want this a new phone this isn't the. phone you had last time oh no it's the. same phone as just no case yeah and also. I cracked it a bit that's what would say. naked yeah it is naked yeah well. interesting enough the case cracked okay. so we're in the 500s 53. no before you kill me I was I had.

a had use yeah being bullied right now. wow that's a big. number and then what's in what's in. collections I had like four counts okay. so here we have we have. 400 and 289 for the record i' rather. take man you could have wiped those dude. so there's about $700 in collections. right now is that wait what's sunloan oh. yeah actually took care of that it just. hasn't updated on uh I sent you a short.

about that okay uh should up Read days. balances again for the collections so. Jefferson Capital. $400 I forget where that oh that came. from upun I borrowed from them last year. and that just came up last month uh. National Credit adjust I guess from. Speedy Cash you know what's interesting. wow what's interesting is you haven't. you haven't taken payday loans nothing. interesting about payday loans. absolutely nothing at all well this is.

pretty interesting cuz like I don't even. remember okay see what happened was what. happened was forgive me gentlemen I was. went to sede cash cuz I needed like I. guess like. $100 and um when I applied there they. told me actually you owe us I was like. what I could have sworn I paid y'all. back and the very next day that appears. on my credit report but since our second. episode you have not taken out of pay. day correct no awesome That's Where It's. At dud that's where it's at impr are. like these are.

moving that's a change cuz he was you. were taking them out all the time we. were like okay so I think more egregious. than credit card Deb you wanted to get a. computer once and you took out it like a. payday loan I did take did I take care. of that oh yeah I did I just yeah it. wasn't on there uh so I mean that is. legitimately showing progress that. you're at least changing things in your. life like you're no longer going into. those stores for the last eight months. actually since the second episode. probably so almost a year you have not. gone in and Tak out of payday loan. that's incredible almost year full.

disclosure maybe a pawn every once in a. while but I don't think I've done that. since about 6 months okay can we please. not are like are you is it like you're. pawning stuff that you're trying to get. back or you're just pawning stuff to get. cash for it and get rid of it no like. like a collateral you're. pay yeah so like if I lend the Xbox for. for $100 and pay back 120 20% interest. wow but you haven't done that in six. months no and we won't do that correct. remember last time I did that and we're. not going to do that I'm assuming my.

savings doesn't get wiped out no okay uh. what what was the amount on that second. collections please sorry I believe it's. was. $298 so there's $400 for 298 let me just. go by the original creditor so that's. fine opportune uh $400 uh Speedy Cash. $289 and hold on that's on but that's. good so those those are your actual. that's on Equifax for some there's more. on TransUnion but just like that other. debt wasn't uh updated and taken away.

yet what's like most up to date you know. I see it okay I guess we'll go with. those two I could have sworn i' seen. more okay they could have fallen off I. mean you're uh 33 so I I could see you. taking out you know that that went into. collection seven years ago yeah you you. last last episode you said you could I. think Caleb put together a loose budget. for you after looking at your your. income um and then what you had expenses. and and he had put a target of $900 a. month of like.

savings so I mean you potentially could. have not the IRS the IRS I think you. need to do a little more due diligence. to see before they just start taking. your money back because you how long. does it take to do that by the way until. they because realize any communication. with the IRS right now is pretty slow. but still you ought to at least go post. tax season you well I I don't think it. that's not what don't use that as an. excuse you just need to start the. process or at least start the. conversation. because you need to know how much CU.

it's not like you can get out of the IRS. debt you you need to go negotiate with. them and talk to them and be and kind of. open-handed say I want to get this off. my my book so I can be productive buy my. house that me and my family want to do. but without that that because that is a. bear on your back right now I mean it. just is that that's coming from a public. accounting background the IRS scares me. tremendously like anytime I get a letter. in the mail and it has IRS on it it's so. I just want you because you can a lot of.

this de just like you just said maybe. that debt fell off you know you can get. rid of private lenders the IRS that's. the government that's the folks with the. guns that's the folks that can just take. your stuff whenever they want to so you. got to get that under control but I. still I mean $900 a month you can do. that and then have everything else paid. off in five months so your dreams are. like right there it's not like this is. like pie in the sky a lot of this stuff. I think you could do it honestly I think.

he could have been done with it now. since your first episode if you wanted. to be so imagine that going forward. imagine that going forward if you think. of how much how long it's been since we. met the first time you could have been. there already potentially well maybe not. the full IRS but we could have had a. plan have a D in it so so what's going. on cuz you you're so nice you're likable. you're funny we talked off you know off. camera and stuff so there's something. going on where you haven't wanted to do. it what what's going. on just making sure I had money decide. to do. so uh and I do but I had to reain in my.

spending first before um The Habit with. spending and the undis you know the lack. of discipline choosing a lot of that. spending and actions over getting to the. goal you said you want what do you think. has led to that just seeing that um I'm. actually glad that we scheduled this. till October because it gave me more. time to figure out because the worst. feeling is like well you're going to get. paid and this check is just this check.

is not yours it's all going to rent or. it's all going to expenses or this. immediate debt like say a payday loan. and now if I get a check I don't even. need to touch it because it's just going. to stay in the high Y savings collecting. interest until every first of the month. and I pay take it out and that pays the. bills and for my allowance and then. that's when I thought oh right the IRS. because um now that I have spare um now. that I have spare monies uh I can tackle. that it was just a matter of figuring. out just uh but you also talked about.

addictive tendencies in the past didn't. you say there was lot of video game. addiction you had to like lock up your. video games because you would spend all. time playing them instead of working you. would spend more money on them than you. had you took out payday loans to get you. know like a gaming computer or something. like that so very interesting is like. the other night I stayed up till about 4. in the morning pring in Resident Evil. 5 but like I said I cut back. tremendously on expenses okay so I and I. don't even have like I think you'll.

notice or that uh well as long as it. doesn't get in the way of like actually. living life and then you know nothing. with having a hobby it's like from it's. like my monthly spending on BS went from. well I guess you could say like just. food it kind of went from 800 to 700 and. I'm trying to see how it's basically a. game of how low can you go and these. days I don't even I don't even have the. Xbox what you call it the ultimate where. you pay. monthly playing I'm playing old PS3.

games that aren't even online anymore I. stay home I cook so these are all good. things those are all like net positive. changes that it sounds like you've made. how often do you get paid uh weekly so. you do get paid weekly so I mean there's. all kind of Behavioral hacks you can do. on yourself to where maybe because look. I think you could go a week without. paying a video game and you maybe reward. yourself where if you don't pay down $. worth of debt you don't get to play the.

video game is there something where you. could gamify your financial life for. yourself do you know I've done that with. Raising Canes actually so I mean but Ser. I mean I know a lot of us there's a lot. of efficiency things where people will. say like when you're having to work. there's nothing wrong with 25 minutes on. a focus five minutes break 25 minutes. but you could gamify your financial life. too to where you just say this week I. get zero zero video games unless I pay. down $200 worth of debt and then you get. to reward yourself with a day of binging.

for four or five hours and then you. start the process all over again it's. like cheat day it's really cool yeah. it's a win-win um sounds like uh. something out of atomic Hammet I hits. yeah small I'm glad you've read that. book cuz because make the good habits. easy make the hard habits I mean the bad. habits hard and that's exactly limit. your access and those small incremental. decisions huge results that's that is. atomic habits I'm glad you you read that.

I credit him with my margin of success. here that's awesome yeah how many hours. a week do you work by the way on that uh. $20 an hour uh on average 40 388 38 39. because I leave home I leave. early and have you been working all of. them because I know Caleb I'm trying to. keep his voice down I don't want to even. though I know we all enjoy it you took. some days off last time and he was. giving you some trouble on that no part. time here good. and that's $20 per hour that's your.

gross pay taxes and deductions and we're. looking at overtime this season but I'm. not going to hold my breath it's it's 15. before or 20 before taxes 20 before. taxes so they say 17 after taxes and. yeah travel season gets busy in the. airport yeah so it's like well cuz they. just we were just given a raise last. year um that's between the company and. the union and so I'm like well if they. just give us raise I don't know how they. feel about overtime but let's see okay. so if you take no time off that's what. it's roughly 3,000 a month use the. formula take gross wait so I I.

completely did something wrong sorry go. ahead I $20 an hour right 650 about I. said 38 hours a week right 760 a week. 15% Time 4 is going to be about $3,000. gross so you're at about 40 40 a year. right somewh right around there an extra. 25 from St I pushed an extra number and. got you at like $120,000 a year I was. like this. just crush it just crush it take that.

what a burger 80s 80 hours a week I did. notice you did something in your. spending and I'm not going to I think. it's good I I I talk about you know I've. become friends with people over at. course careers and you ended up. purchasing one of their certification. programs and I love certifications I. love trade school I Love College. whatever the best path is for the right. individual buddy you know me I could. have given that for free. I could have got you a free. certification you didn't have to go.

spend the money on that it's not very. expensive you're wel to reimburse me. huh look at that that's that's good good. that's. good mad at that you can't be. M uh so let's make your budget your rent. 640 how much on average goes to. utilities Let's uh it's just a flat 640. that includes gas electric water trash. okay yeah he takes care of all the. utilities yeah it's a good deal internet. taken care of really 640 yeah now not.

put in perspective I'm pretty spoiled no. no 640 especially with all that. included insane FR aw um so that's. really cool and uh obviously so the. minimum monthly payment from the credit. card I do want who is that t being taken. care of right now who is that being with. drawn from um well you see my mom and I. were I would prefer that my mom if she. next her next uh income tax um comes.

around I prefer that she actually have. some of it saved instead of it all going. towards de that's fine but when the $125. is taken whose account is it taken from. I that's okay I just want to put it in. your budget okay well there was um well. I actually pay 150 okay that's your. minimum though I'm just trying to get. your minimum. budget are you getting closer well we'll. see are you getting closer to that 300. bucks 3 groceries 300 bucks in groceries.

meal pre in Sunday Thursday um boring. meals 60 about 350 350 400 well you're. at 300 300 is what I'm putting for you. cuz that's what it is and we're doing. the grocery shop in trip to do it soon. it's it's for me it's more beneficial to. order from Target. okay. uh other expenses that happen in a month. I always blank in the moment YouTube. premium yeah I saw that one I saw also.

cocaine bear cuz here's I mean who's. buying Blu-rays by the way I was going. to ask cuz I was like I asked our entire. content team I was like who is buying. Blu-rays still and and and because you. had a Blu-ray for cocaine bear I. remember when I that's one you just. really wanted all I remember Timeless. class I remember when Netflix first came. out and I was like oh Rand and Stimpy. cool how much are you paying for uh. public Transportation your bus passes. $42 that's a month a week a month a.

month and it's unlimited bus rides yes. that's great not a bad deal how about. your snacks because I know in the past. at work at the sometimes you would go. and and get a lot a number of snacks I. not putting in your budget by the way. but you can say where cuz you get fed at. work too that was the other thing I. remember you actually get a free meal I. leave my debit card at home I love that. most days you're doing some wonderful. behavioral Finance stuff I can't control. it I'll leave it behind hey I I don't.

walk through the of the grocery store I. recognize I can order that stuff is. amazing like that is like real tangible. behavioral change thank you which is. huge like that's huge I I should I. should say and I don't say this enough. because I know I dig in and it's because. I love you and this is how I show it and. how I want you to do better from our F. it's taken four episodes but from our. first episode you've made massive. improvements and you are getting to a. much better place and you've changed a. lot for your behavior and I am really. proud of you for that thank you man.

yeah. um uh okay uh other things that you pay. obviously you're not paying for gas. anymore car insurance anymore what about. cell phone is that that yeah what about. cell. phone so I'm stuck with uh I T-Mobile. prepay it's like $50 a month but then. like after taxes and fees it's 55 okay. so 55 a month and fun fact I just paid. three months so I don't have a bill. until January do you save anything on.

that not really no I just don't like to. think about it every month that might. not make if you're not making if if. there's no Arbitrage on that if they. didn't reward you and and you're paying. 30% on every credit card so like every I. don't care if it's 20 bucks extra on. your credit card I mean that that's huge. in the grand SC you me you really do. need to I was thinking about that in. that moment sorry cuz every dollar on. your credit card you can think of like a. 30% rate of return so if you only pay. one extra dollar on that $1,00 a month. should be paying it gone in no time.

three months I should be paying it. weekly huh you know what actually let me. let me uh pay off that credit card by. theend of the year is is that is is that. all for your monthly expenses anything. else I should be aware of I'm canceling. all your subscriptions I'm sorry your. subscriptions don't exist even YouTube. premium your subscriptions don't exist. Does anybody at this table have YouTube. premium by way me and I love it you do. so we do not I do not have YouTube prum. I watch a lot of commercials I feel like. it's almost like cuz I grew up in. Georgia so I got the Hope Scholarship so. lottery tickets I feel like you know.

every now and then I'll buy one but it's. I don't mind watching the ads I like to. have I feel like we're benefiting from. the ads on YouTube I do a lot of. podcasts on YouTube so I clo or. educational documentaries and I like to. close the screen and listen to it while. I'm driving and you need premium premium. to be a to do that and also U we get. good CPM for our you know sector but for. majority of YouTubers uh if someone has. premium and watches their content they. get more off of that than uh AdSense so.

I I I also like supporting creators that. way that's a wonderful that is that is. wonder doesn't mean you should you don't. need premiums you should have it you're. paying 30% on your credit cards in. defense look okay uh impulse spending. right it's a result of we see ads. everywhere okay so I have a theory I. believe if all of our guests subscribe. to YouTube premium their spending would. decrease because you see a waterburger. EG you know waterburger sounds good to. me let me get waterburger right now self.

control and also the 5 second but you're. leaving your debit card back at the. house so it doesn't matter how many ads. you see well if I see a Papa John's ad. I'm going to order pizza on average what. do you think hits your account on a. monthly basis I think 2,700 is uh 2,000. I'm sorry what was you're not. contributing to retirement right now are. you uh no I'm just focusing on the S. well is there a match it's a it's a it's. a between savings and paying off that. comic. um High interest credit one thing we all. agree on that the other lad in your town.

doesn't agree on is taking the match. right oh for sure number two it's free. money it's free money 100% return that's. right Financial order of operations. that's right uh so you were asking the. question about how much income hits your. account monthly and you said your guess. is about $2,700 a month is that right if. it's 3,000 gross it hits about 2,700 a. month is what you're actually seeing in. your checking account if we average it. out across longer months how about this. free YouTube premium. I'm technically not paying for it.

because one thing I haven't disclosed. yet is the stake.com where you log in. every day and they give you a dollar so. it's basically for YouTu the gambling. website yes I just don't gamble but if. you log in every day you get a dollar. yep that's that's not worth the squeeze. of the fruit that seems a bit risky. too on that you have addicted. personalities we talked about being. addicted to porn and before and we also. talked about addiction to video games. video games very similar correlation to. gambling by the way well for through.

some miracle I haven't touched the you. know I just want you to be cautious yeah. the dollar day is not because they want. to give you a dollar. day hoping you slip right into a some. type of compulsion there oh yeah if it. was yeah they know what they're doing. but Joseph fun fact you should have an. extra. $1,438 a month to spend to put towards I. was about to say not to spin to knock. out some of this stuff to knock out some. of this stuff uh but did you follow the. budget I said did you put it all towards.

it. progressively Transportation was 392 now. okay this this pie chart isn't 100%. accurate and the reason is because this. is your money this is your debt but this. wasn't all your accounted for yes okay. this wasn't all your spending so but can. I so this was made by you by you guys. yeah okay yeah even though it wasn't a. spending you're still on the hook for it. right so that credit card is gone I just. want to re reate the fact that that. credit card is cut up and gone and does. not exist anymore correct meaning.

meaning if we were to look at this one. mon from now only I have access to yeah. to do anything with it yes which fun. fact only 1.9% of spending went to. grocery stores where 2.6% of spending. went to eating. out what was the rest of what I ate uh. we have unknown shopping let me take a. look at our unknown shopping categ are. you going to the Gold Gym too cuz I see. that as a reoccurring no that was my. that was one of my brothers it was my. mom and two brothers I still think. that's great though just put it on I'll. be happy to you want me to put that in. your budget I forgot to tell you I have.

uh okay what was the other. expense cuz I'm getting distracted here. pardon me well unknown so the unknown. shopping by the way which took up 16.8%. of the spending. was Target you never know if that's. groceries or Amazon you never know what. that is and same with Walmart CU you can. get anything and everything at both I. kind show you I think I left the. description of like what I bought from. there but uh Target I can ass show you. was pure groceries uh no Xbox controller. nothing uh Amazon I that was I did buy a.

piece of tech so like yeah I saw that. the HDMI misscellaneous 5.5% of. you're spending. $245 uh convenience stores and I know. you have an issue with convenience. stores CER Cade come and take it pro. spending at the job that's supposed to. be giving you money something to Google. and Cube smart oh yeah that was the last. month that I spent money at CU smart cuz. there cuz fun it was funny because the. storage unit rent increased and the um.

and my my home rent increased so I was. like okay one of them's got to go and. I'm not sleeping on the street so I took. everything out of the storage well. what's interesting and we have a spare. room now to like move all my stuff in. there so do you need to pay for that on. a monthly basis not anymore okay so. what's interesting is 1439 or 1438 is. what you should have left on a monthly. basis right well you did put $1,000. savings so you actually getting pretty. close you did this in the month leading.

up to know you're being audited mhm and. not the month previous of which we had. access to the credit card statement but. you did take that step that shows you. can do. it like here's what I think is so wild. you were talking about the budget he. should do that's what he should do and. what you said is hey wow you would have. $1,400 do you realize had you again I. don't want to take anything away from. how much progress you've made because. that is worth celebrating but you. realize that if you had an extra 14 $100. a month from your last interview last.

time you here until now what your. financial circumstance would look like. like your debt would be knocked out the. taxes would be like moving in the right. direction you'd have money saved up and. you'd be thinking about other things. about maybe not making a down payment on. a house but having money in savings. maybe starting to actually build up some. sort of wealth build up an actual fully. funded emergency fund like you're there. you it seems like you were in a very. deep hole initially and you have been.

working on clawing yourself out of the. hole and right now you can like see the. top of the hole and all you have to do. is just like pull yourself out of that. hole and once you get out of the hole. then you can start building and frankly. building is the good place that's where. you want to be that's how many months it. would have taken him to get out of this. exact situation with the amount left. over one year one year exactly well just. over the time y'all did hear I I want to. make sure I didn't mishar this you said.

because you were so motivated by hearing. that you could have this taken care of. you said maybe I can get this all paid. off by year. end was the only the credit card yeah. the credit card that's what I me and. then well which I agree get the ball. rolling on the tax was that math the. full math on the on the full amount of. the tax uh yeah cuz there's a chance. that you can actually negotiate that. amount down do you realize if you got. the tax negotiated down and you and your. mom got the credit card debt paid off. there's a chance that inside of the next. year you could realistically be debt.

free like you could realistically inside. of the next year by Halloween next year. not owe anybody a dollar if you got. serious about it and actually you're. right by the end of the year you could. by the end of December it would require. if you wanted to get to 1438 in a. savings before you attacked it then. throwing everything else towards it you. could do that I just don't think you. could like literally spend a single Cent. outside of the budget that I.

laid it's going it'll be tight you can. do it it wasn't doable well it's doable. now that's if you do it without your mom. contributing at all which morally I. think she should but I don't want your. the risk of it relying on that and you. know being held over you forever it's a. win-win either way because next year. we'd want to go in on a house you know. what you need to do when it's fully paid. off and everything though contact you. close it I that that's what I was think. close what the credit c credit card you. chopped it up but someone could order a.

replacement someone could have it online. but we don't want the brother the Mom. spending on well no I actually did close. oh no I already did I already did close. it actually because cuz uh cuz like well. they chopped it up and everything so I. like okay no one's going to use it and. my mom told me she closed it and then. next month I got a I see a notification. oh yeah you paid for month the spot what. the hell it's like oh we didn't close it. so then then I actually closed. it well so but only 20 transa $20 not.

transactions $20 was spent on the card. uh and you canceled that subscription or. moved it well I didn't cancel the. subscription I just closed the card I. don't know I have access to the Spotify. account so I don't listen to Spotify did. you say that we're coming into overtime. season did I hear that like at work like. it's potential cuz like when it comes to. finances we all really only have two. options we either spend less money and. you were rapidly. you are rapidly moving to that place. where like you can't cut so much more or.

you can but like it's going to be. behaviorally difficult but you do have. an option where you could potentially. make more like if you were willing to. commit and I know this sucks but when. you're in a bad situation you have to do. things that are kind of painful if you. could get overtime instead of working 38. hours a week you could work 45 hours a. week or pick up an extra shift every two. weeks or something along those lines you. could boost that income and all that. additional income could go towards. knocking some of this stuff out right I. mean that's a realistic scenario yeah.

yeah I'm just um I'm a hoping for it I'm. just. a yeah that's about it like if it if it. happens then great because I'm just I'm. just a little skep get to control it's. not this is you this is not something. that happens you have to can you. advocate for yourself though Joseph can. you like tell your supervisor and be. like hey I know that the holiday seasons. are coming up we're super busy I I'm in. need that I'd love to to get myself out. of this situation people calling every.

day anyway Advocate but advocate for. yourself actually make it don't let it. just cuz nothing just happens you know. CU you I could hear you were being. somewhat dismissive on it but I think if. you go advocate for yourself it will. happen it's it's going to be something. that will happen for you I will also say. and I couldn't do the quick math in my. head so I had to calculate it but. there's an additional 128 Hours in the. week you can pick up a second job as. well if for some reason overtime is not. granted for whatever reason I was. thinking raising canes and also I was. thinking about getting another car too.

but then I thought no not until you get. the 30% credit card Deb paid off and. you've also proven you don't need to for. for living right now because yeah and. then I did the math I was like well it's. probably going to be $1,000 a month just. to keep up with the thing and then like. your interest rate is going to be you. know what spreadsheet he should see in. the fut sub 30% from the tax for the. taxes on top of the taxes I already out. n it's not worth it yeah I I think that. you have proven kale said you've proven. that public transportation works for you. it's a great solution for this season.

cuz then once you get out of that hole. and once you start building then one of. your goals can be hey I want to buy an. automobile but that's not where you are. right now you have stuff that's on fire. that requires all of your attention. before you start thinking about that and. public transportation works for you. right now uh and so I think I think you. have to protect yourself from getting. comfortable because while you're doing. great you're not out of the woods yet. you still have like some hard work to do. between now and the end of the year if. you really want to get that knocked out.

by December and honestly man if you do. and we negotiate the IRS and we you know. work for a while to pay this off because. you take advantage of a really good. living situation in Austin buddy I could. get you into a $10,000 paid for a car. pretty darn quick or you could take. advantage of their. 20 look there you go Joseph knows it I. just can never get the number for some. of that does numbers all day I just. can't do that yeah here it is see there.

it is laminated laminated to make it. permanent there's a 238 rates rates are. really hard right now so I I would love. to see you work your butt off and get. put a massive down payment down on a car. or even just buy any cash would be. really cool yeah I got even I have a. better idea oh my brother actually he's. getting into a new car as we speak and. he's leaving me his old one because well. it's insufferable it's a death TR it has. no AC in the Texas summer so that's. going to be that's the death trap though.

it's not dangerous correct but you got. to yeah just you could fix the AC you. can make it make fix it up a little not. going that that way I won't have to you. can just roll the windows down it be all. right but uh that that sounds wonderful. but even owning a car like that there's. going to be expens like right now you. just said the bus is $42 a month oh it's. going to sit in the parking lot for a. couple months okay good good good and I. already it's funny because cuz my they. pitched this idea to me like hey you. want this old car like it's not even you.

know just have it it's a death trap. whatever and I said um okay sure and. then the next and then like they T. mention this right after I buy another. month bus pass so so I was like well I'm. going to use that bus pass for a month. and like I want to make sure I have like. and it's not even for a down payment. just you know a couple hundred couple. thousand just to make the car an. acceptable ride because it's been to. Hell and back so but Joseph I I would. once again going back to gamifying MH. you can't even consider that car and.

activating it for yourself or getting. insurance on it until you pay off the. credit cards because I I I. just a wonderful reward for the 30%. you're paying every month on the. interest rate I mean it's just that that. you're never going to be able to have. the life that you want and you're so. close I was I was so worried coming in. today that it was going to be a. situation where it was hopeless because. you were going to be so far that it was. going to be one of those things where. Caleb would be able to give you some. positive steps but the but the the.

actual solution or the resolution. wouldn't be like 3 months in the future. you have the potential to go into 2024. completely debt free I me except for the. offering compromise that we you're going. to get to work because I'm GNA send. Caleb the link no yeah absolutely the. thing the thing that's the thing about. the car is I don't have much of a much. of a car debt to worry about once I take. care of this the credit card because. it's it's all just a matter of fixing up. a death trap well well and the and the. maintenance and the insurance like there.

are costs that come with. auto now even after you take care of. payments are still Insurance the the. model gas model age Kia Rio it's about. 10 years old how many miles about less. than about 120 oh so but it'll still run. like it's that's still likely the you. can't argue with the price that he's. giving it T4 it would save me yeah free. and it would save me so much time too. instead of having to ride the bus but I. think that's got to be something where. you have to set some sort of incentive. all right I'm only going to activate.

this car if this credit card is paid off. by December and that will be my new year. new me resolution whatever and I'm going. to use that so that I can be more. efficient with my time so I can create. more income so then I get this tax thing. knocked out right it's got to be a tool. to help you move in that direction but. you got to get you got to you got to. take care of the painful stuff first you. don't own your you just said it'd save. you so much time if you got to drive. that car but you don't really own your. time right now I mean it's cuz every I. was looking at how much you get paid per. month versus what they're charging you.

on your monthly interest rate they own. you right now so I mean you're already. you don't really own your time so I. would I would reward yourself and then. have more control over your time after. you pay off so you don't have the. overlord of the credit card companies. charging 30% yeah that is um o money you. haven't earned yet so so so you I'd get. out of that because you want to own your. time I mean that's the thing now Joseph. so you you know you owe that debt you. know it's a 30% debt I've talked to you. about it for three episodes you know.

you're coming on the show within this. statement cash and cash aing out $20. going to cidere K. $21 of taking out $142 in the ATM we. don't even know where that goes $43 we. don't know where that goes PBC of. Maryland I don't what is that what is. that $25 that went out PBC PBC of. Maryland wait how much was come and take. it pro for 76 what's come and take it. pro a shooting range oh no I went to a. uh I went to a a rock concert with no.

Health we don't go to rock concerts we. don't go dude you're going to the shop. and getting your glizzies shop getting. your glizzies also known as tequito on. this show the rental car I understand. probably an emergency situation with. getting your car figured out so I get. that and it looks like oh that was. actually uh refunded from um when I got. when I got my car but that's what. worries me about not that but everything. I just said there is what worries me. about we just talked you knew you were. coming on the show you've known what. you've had a Duke forever you've changed. some Behavior stuff you've not cleaned.

everything up that you know you can and. you know you shouldn't that we talked. about so many times why why was that St. 4 July no no this was August was it not. August yes August through September and. you've had oh from August through. September. okay you've made progress but just. you're worried that it won't be. consistent well you've just demonstrated. here that we're still willing to go. spend money that we don't have mhm and. I'm just curious why why is that not. broken through to you yet in your own.

opinion why do you think you went out. and spent that money well I did but I. did um an experiment where it's like. okay let me try to spend a little less. and a little less and they got. progressively less like a taper raining. off I guess is that what that is I I. would be okay with the taper if it. actually tapers and maybe it. has I can accept that okay I'm pretty. sure about you know a lot of the stuff. trying to get you in a better position. but I can accept a taper from where you.

were maybe these guys are making me too. nice yeah I do feel like we are making. you a little nicer well I do worry I. hope I hope it would have looked this. way had you not come back on the show. had this episode not been coming up I. hope it would have continued moving in. the right direction it's not incredibly. clear to me that that is the case cuz I. do think if you would have attacked this. as severely as you did that last month. month if you would have started that. back at the beginning of the year you'd. be in a completely different situation. right now it's almost like when you know.

you have to be accountable for it your. behavior changed but when you didn't it. just kind of like kept mud muddling. along. right that is. yes people always ask me what high yield. savings account do I use for my own. money some of you know by now it's Sofi. I love them it's great for my check-in. account needs it's great for my high. yield savings account needs needs and. right now I'm getting 4.5% interest on. my monies I love that rate on my monies.

so if you want to get a great rate like. that on your monies just check out the. link in the description below I have a. paid affiliate link there you can get. bonuses all the way up to $250 and I. took advantage of that and you should. too um I'm not gonna I'm I'm not going. to argue with this. man okay I had a I had a a boss when I. worked for construction he said um um if. you're talking not listening if you're. not listening you're not learning if. you're not learning well why are we. paying you so it's like yes sir Mr Po.

but if if you if you never come back on. this channel again if you never do. another. followup a year from now will you be in. a better. situation be in a better situation by. January in. fact Caleb I have an. idea how about just CU this is what he. did out of the blue it's like after. about three months is like hey you want. to come on another episode and I was. like well he's had other previous guests.

on so it's like it's it would be unfair. to them if I didn't show up because cuz. they had to show up after three months. so like yeah so like I can't wuss out of. it so fine I'll show up but what if we. did arrange something where like just. call me any just at any point it could. be two months from now it could be a. year from now just to keep me on my toes. and be like sure yeah come you're coming. on next next. week just. to oh yeah it' be interesting yeah I.

mean sure if if that's the like with no. heads up and no prep for it yeah so you. think the fear is what's going to drive. you yeah okay I'm actually grateful that. um cuz uh I think we were discussing. since like August or July or August. about coming back on yeah and uh I was. like I was like yeah let's do September. and then towards the end of August. actually let's go for October I was like. sweet cuz now I have more time. to uh get in.

line Joseph I do have a question though. cuz I'm looking at you because we know. we've got the credit card gone so I mean. well consider because that's the that's. the cre interest the only thing that I. can't really track down you know here is. that you do have like close to $800 of. ATM withdrawals and that's a that's a. hard thing to be held accountable for. because that's just straight up. cash and then that's basically quarter. of you being debt free on that credit. card so that that's a big number what.

was that why are you walking around with. a pile of cash no ATM withdrawals all. through it was a hiccup with my M1. checking account there um but they say. ATM yeah no it it leads to that. uh what was it so there was a. transaction from I think it was a rent a. car place and they told me like oh. you're um your what's it called you left.

damage on the car so we charged you for. that and I argued uh no I did not I left. that car in better condition than how I. got it um so like I disputed the. transaction but like the thing I did. reflexively before calling them was Mark. the transaction as suspicious and M1 as. a result just uh Clos the card so I. could not withdraw money from there and. I had so much money in there and I. couldn't pay rent so when by the time. everything was settled it's like okay I. owee I think it was like that month's. rent plus a little bit of next month's.

or like what I owe previously. yeah okay I had to open up a red wood. forest account again it's just been so. confusing me because like I wanted this. to go smoothly and I would have like. five or six different banks that was mon. can I say back to what you said I'm. sorry I drew cash in ATM to cover rent. is that inaccurate I would withdrew cash. from the ATM to cover my rent M that's. the. answer yes yes all right cool all right.

J I want to do. something okay so two and a half months. from today two and a half months today. if you actually follow this exact budget. and I'll figure out what that date is. can anyone tell me what's two and a half. months from. today uh I guess I can tell myself good. know before Christmas December 15th. December 20th you should have at that. point been able to save up to a total of. $1,438 in your savings account cuz you.

already at a th000 and you should have. brought that credit card balance down to. about. $500 if that credit card balance is at. $500 between December 15th December 20th. I will give you $500 and we'll just wipe. that claim we good with that you talked. about negative uh reinforcement in terms. of using fear essentially of getting. yelled at of coming back on the show. which sometimes that can work for some. people let's use some positive. reinforcement you get there I'll wipe it.

it's only $500 I know it's not crazy but. let that be essentially an extra $500. that's getting you towards your uh path. of Freedom now I we'll match it we we'll. match what you just did if you if you. tell us they did it we'll we'll we'll. send a match too that's that's ,000 we. verify it well yes it will be yes we. will uh but. I'm sorry there's always a butt I. offered you cash in the past to meet. some certain goals after the second.

episode leading to the third episode you. didn't meet those and I couldn't give. you the cash correct second time let's. do it right well would you say that. you're more confident in me this time. I'm proud of what you've done mhm I'm. proud of what you've done you could have. done better but I'm proud of what you've. done oh we could always do everyone. could I sorry yeah go for it6 69 what do. you guys think he could get his uh IRS. Deb down to realistically from what.

you've seen through that PR I me here's. let me read this to you this is actually. from the IRS website it says an offering. compromise allows you to settle your tax. debt for less than the full amount you. owe it may be a legitimate option if you. can't pay your full tax liability or. doing so creates a financial hardship. Joseph you sound like a financial. hardship right now we consider your uni. unique set of facts and circumstances. including your ability to pay your. income your expenses and your asset and. Equity um we generally approve an offer. and compromise when the amount you offer.

represents the most we can expect to. collect within a reasonable period of. time and so it then goes it has a cool. little tool it says who is eligible and. it says you know confirm your eligible. and pre prepare a preliminary proposal. with the offering compromise. pre-qualifier tool so that's why we're. I'm going to I'm going to share this. with Caleb you ought to without passing. go I mean this ought to be before we hit. the weekend you ought to on this tool. seeing how you qualify cuz if we could. get this down I don't know you know to.

specifically but what if they could wipe. out 30% of it what if a third of it just. went away what if half of it went I. don't know how big this could be because. that's going to be part of the. negotiation but I do think there is some. amount that you could come to an. agreement with and then be on a path to. be fully above water and that that's the. part CU right now you've just got all. this pressure on you and and and you're. so close that I I I I think it's I was. worried it was hopeless but this.

actually seems very optimistic yeah but. you got to take some work because it. doesn't get better time is actually. working against you and it's building in. the background so you've got to be. proactive and advocate for yourself and. if they don't forgive any of it for. whatever reason with the money you'll. have left now with the uh Capital One. minimum monthly payment going towards it. um 10 months no more 150 10 months so. October of next year a year from now cuz.

you know we're thinking of the beginning. of the year starting that part it would. be done think about that completely debt. free we met over a year ago a year ago. so quick and. hindsight that's incredible that's your. entire life now is changed changed you. don't have a sent for retirement do. you no okay and we're 33 will'll be 34. that time I assume as financial planners. that is a little scary it is but you're.

still young you still have a lot of time. like and that's the point you still have. time where you can even get through this. and save for atir and every dollar that. you save once you get past all this debt. stuff every dollar that you save can. still be so powerful over the long term. but you got to get there and the sooner. you get there the more powerful the. dollars can be yes it's scary yes it's a. little concerning but it's not too late. you're not sitting here at 45 or 55. trying to figure this out you're in your.

30s you can still change what your. future Financial life looks like it is. not too late and then the only reason I. bring up the fact that it's scary isn't. to demoralize uh saying oh it's too late. or anything like that it's saying okay. let's make that 10 months 10 months. because you you have this 10 months two. years you just put another year off of. starting to play catchup on the decade. and a half of best compound growth in. your life that you missed so yeah but. think about that dude are you ready to.

crush it I want to hear some excitement. come. on hell yeah. boys I'll take that as a win so do you. have any questions for the lads do you. guys have any uh extra things for you. say our name on us by the way we were. like mon the dollar bill. dudes dollar bill dudes all right okay I. don't know if that's going on a t-shirt. but it's something. okay Jess what do you think um yeah no. this is life's definitely been a lot.

easier like uh well on account of my. well some discipline from somewhere to. my credit. um and um I actually wanted to mention. because like I've seen people who again. a lot of it it's like just okay so the. simple oh just save more and spend less. stupid like yeah obviously but it's it's. behavioral for a lot of people it and. well yeah so I think what I and I feel.

like I've graduated to from like between. three different methods it's like um I. used to have this I wish I brought it. with me but like I had a like a secure. like a set a box right that you had a. key to it and I had envelopes in there. because because of the um the insurance. paid for my car the line holder they. sent me checks or admittance checks cuz. basically I made payments to my car even. and after it got destroyed and it's like. okay we're refunding you for that so I. got all these refund checks like let me. see so I put like $50 $50 in every.

envelope and I open one every week so I. have that barrier of okay not only do. you have to unlock the Box you also have. to tear open the envelope and there's. also a men like a message on the. envelope to discourage like if you open. early instead of being negative uh. Optimist we have found like on our. clients when we when we every year we do. an annual survey 84% of our clients. classify themselves as Optimus so. instead of the glass half empty I'd like.

to do glass half full why not consider. something you've already told us that. you liked Atomic Habits by James CLE why. don't you put the audio book on your. your phone that first chapter is fire I. mean it'll help you run through a wall. of discipline because that's what you. you need more affirmation to get you. excited and I think if you just every. time you need it go listen to that. chapter again and and I think that. that's the part because you're you know. what you do you you've been hanging out.

with this guy who is the most motiva Mo. motivating thing it it's now time for. Action you're you're you're past the. point so use the affirmations use the. forces change the behavior you know what. to do so it's now time of action thank. you Brian um so just so that was that. was the make the hard make the bad habit. unappealing small incremental. have tremendous impacts in the long term. and then you want to and he talks all. about making good habits easy bad habits.

hard and and then I feel I graduated. from that because it's like well what if. I just like did it every month since I. have the money now it's like like every. month just uh okay 300 400 that's going. to go towards the Sofi card and that's. my allowance spending and just leave it. at home and now I bring my card with me. and I don't don't look for loopholes. you're looking but you are looking for. loopholes for yourself to give yourself. permission I think you you need to be un.

merciful though on on what you've got. though and I'm worried you're you're. still looking for carve outs for. yourself and that that scares me a. little bit I know but it's just a great. feeling to carry my card with me all day. and not spend anything I like wow I. really did that let me do it again and I. just I don't know how I got here but I'm. here um just through um and I have a I. have a question. for the three of you let's say if um you.

saved the world uh everyone's retired. they've retired their parents um. everyone's financially free and there. was there was no need for this content. what would y'all do high high five. celebrate chess Bop it'd be awesome. compose music it'd be wonderful I'd be a. school. teacher probably a personal trainer. maybe I don't know I can totally man I. think we just all nailed a lot of cool. things that's a great question so this.

is a once in a-lifetime Opportunity I'm. pretty sure if anyone actually wants to. sit down at their desk and ask them. questions about monies it probably costs. a crap ton of money they are right here. so I know this is on the spot but you're. you've talked about potential housing we. talked about retirement anything like. that any questions you want their. absolute top Minds to answer on now. would be the time I'm very fortunate I. just spent the last 20 minutes kind of. like on the bus just thinking what am i.

g to ask them it's like but I think it. was mainly the tax situation and also I. me guess we don't have to discuss it now. because it's so far away but we were. like we want to split the mortgage and I. like had a blueprint of how that's going. of course that's not you don't mean. multiple names on the same on the. mortgage oh yesh you you do mean that. yes he's talking about buying a house. with his mom is what he said earlier. risky you never know what can happen and. I'm accounting for her retiring in 7 to. 10 years so let's do this let's get you.

through this stuff and then when it's. time to start talking about a house. let's have that conversation because you. need to focus on the task immediately in. front of you before you start thinking. about the seventh eighth ninth level. thing that you're going to work on you. know what the goal is the blocking and. tackling and Logistics of executing that. goal are less important than taking the. steps until you can actually begin. working on that goal so you know you. want to own house let's get this debt. paid off let's continue to you know get. the amount in savings get the debt.

knocked off get the taxes knocked out. and then we can talk about buying the. house because you don't need to focus. any calories any attention on that all. of your attention needs to go on fixing. the problem immediately in front of you. yeah you have your eyes on everything. you'll get nothing done that's exactly. right yeah you need to do the small. incremental steps I mean that that's. really where it's at Joseph it's back to. action is where you're at thank you I a. million per agree with what you just. said but just because what he said made. me a little nervous I feel like we might.

want to dispel that idea pretty quickly. right multiple I don't I will say I I it. made me cringe a little bit cuz you're. right now you're at the mercy of if one. of your relatives wanted to go. reactivate the card that got cut up. you're on the line with that I don't. know if I'd be ready to jump right into. that but I think aent and a kid on the. same well here's I think you've proven. uh you and a s and a and a family member. being on the same line of credit it's. not worked out historically for you. agreed and um this credit card did not.

work out incredibly well for you agreed. so perhaps the mortgage thing might not. be the best now there's nothing to say. that you can't live together in the same. house and you can't charge them rent and. that rent can help offset the mortgage. but both of you signing on that it is. like a marriage and I just don't know. that you necessarily want to marry your. mom that's not what I mean but I don't. know that you I think it would better. our odds though for like getting a. getting a loan. no I see so it was more about having two.

different signers two different in but. if she's going but you said she's going. to retire in like five to seven years. there's no guarantee but I'm accounting. for that okay. well I love to get you to a point where. you buy your first primary residence and. if she lived with you you know we could. talk about a rent situation to help. offset that uh that's what I would. prefer the reason why I I wanted to go. back into that after you say because I. don't want that to be your dream for the. next few years as you're getting out of. this and all of a sudden someone has to. tell you that's not a good idea I I I.

want that to be kind of aware now cuz. you never know what's going to happen in. a relationship I'm sure you guys have a. good relationship but you never know. what's going to happen and that's a big. tying your biggest asset and liability. up in a relationship that could who. knows scares me it's going to be a lot. better if you can do it on your own and. let's work to get you that place where. you can you Cy that cuz I don't think. it's crazy plus if you guys get a. mortgage that is being qualified under. both of y'all's income and you're making. whatever that monthly payment is based.

on both of your income and someone sadly. passes away or something like that I. mean be in a bad spot yeah so I'm sorry. I'm sorry to like be real world about it. I just I don't want you to I want to try. to get that mindset a little more. corrected as you're going towards that. okay but you can definitely we can get. you we can get you a house in the coming. years dude if we start if we correct. things and we actually get on the right. course and we start looking uh building. additional income through a career path. you got you signed up for certification. stuff I don't know if you started uiux. which is a great industry to get into um.

even if tech a little difficult right. now I mean in the long term I mean. that's that's that's great um you know. the average age of first-time home. buyers in this country right now less. than 33 36 years old oh so think about. that most people in the country don't. buy their first home until 36 so you're. still like you're not technically behind. on that we just got to get you we got to. get you moving in the right direction. well full disclosure it's not our first. rodeo cuz we did a uh default on the.

mortgage before um so like when you said. now I'm like you and okay no I don't. think my name was on it actually okay. yeah no no no no well I definitely. wouldn't get on the mortgage of someone. who's defaulted a mortgage well fool me. once well the thing was uh someone left. and then it was just us and then I lost. my job there's the relationship thing if. you all it takes is one oversight and it. could be like 20 25 years can can we. have an optimist mindset on this though.

yes yes yes you've already had one. failure with this but y'all still love. each other and they're still super close. it's good thing let's let's end on that. positive note with that before we get. right back into the the same situation I. know we're all going to have like 15 25k. saved like a lot of that is for. emergencies the rest is for the down. payment and then everyone needs to. maintain a cash flow of like $3 $400. that way if we need to use that. emergency fund you can get refilled as L. thought has gone and that's why I wanted. to talk about it and that's just to to.

start with but of course you know let's. take care of first things first um the. debt so that I have more a greater. margin or a greater cash flow to. speedrun this um project here any other. question for the lads H I know I'm going. to walk away and so much for guys like. oh I could have asked in this that and. the other um I don't know I just wanted. to tell the audience. um tweet them they'll look at their. phone if you bring it up in person oh.

isn't that how Twitter's supposed to. work you tell someone you tweeted yeah. by the way talk about embarrassing is. that they goes who runs y'all's Twitter. feed I'm like the guy you're talking to. he's like I tweeted to you guys and. y'all didn't respond I'm like oh so I. pull it out of my pocket you know. one uh quote I want to share is that um. saving money easier said than done yes. it's hard but on the flip side it's like. well staying broke is harder and I've.

done that my whole life so did you quote. that from yourself right now should be. should be easier if anyone said that. before let me know but U that's kind of. was like well yeah I don't really have. any excuses do I so yeah if you don't. own your personal finances your personal. finances will own you and you've been. living in a world where your personal. finances have been owning you you are. slowly starting to move the equation on. the other side where you can own your. financial future and that's a great.

place to be but you have to keep moving. in that direction and it's not easy but. it's worth it absolutely all right man. December 15th to December 20th should be. a $500 balance 500 for me 500 from them. we'll get it let's all put our hands in. the middle there you go uh Joseph Joseph. stops up and he makes more money and he. changes his entire life and everything. becomes great in general ational. property is ended on three 1 1 2 3.

[Music]. go all right so for the first category. spending and budget I'm going to give. Joseph a five out of 10 because it. wasn't great he didn't necessarily stick. to the budget that Caleb gave him. however he did make some improvements he. cut his expenses and so I think that. he's middle way through that for debt. I'm going to give him also a five out of. 10 and here's why his debt load did not. go up but it also didn't increase I'm. not going to give him a ton of credit. for getting into a car crash that.

doesn't seem like a re I mean even. though his debt went down it wasn't like. he planned that out so it did not. increase though so that's why I'm going. to give him a five out of 10 for his. emergency fund I'm going to give him a. seven out of 10 cuz he actually has. $1,000 sitting there I know his goal is. around $1,500 so he's working his way. there I'm going to give him a seven out. of 10 for retirement 0o out of 10 he's. just not there yet he's not moving in. that direction yet and for real estate. also 0o out of 10 although his rent is.

incredibly affordable for the Austin. area still a z out of 10 cuz he's not a. real estate guy yet so all in all I'm. going to give Joseph a six out of 10 I. think his situation is much better than. I expected it to be coming in here but. not as good as it could be if he gets a. fire lit under him I think that he can. be in a fantastic spot we had a blast. hanging out with Joseph I want to give. my take so spending and budget I did a.

four I think a lot of what um progress. Joseph made was because of access to the. to the credit card because it sounded. like one of the relatives cut it up so. nobody was spending money on it so I. don't know if it was discipline more so. than access so that's why I gave it a. four overall debt I actually went six on. this because I I can see daylight I can. see actually a moment in time in the not. too distant future I'm talking like 3 4. months in the future Joseph could be in. a completely different place that's. optimistic and positive so six emergency.

fund six he made progress he added to it. that's over $1,000 added by Joseph that. shows me he has the potential for in a. four figure a month to make progress. that's a positive retirement zero he has. no retirement savings he's got time he's. young enough he can make it happen real. estate he's a zero um he's got to take. care of a few other things before he. gets to it so if you added all this up. that is 16 out of the possible 50 so.

that that probably puts him to a. rounding up to a 2 out of. 10 but only because of retirement and. real estate see I'm nice guy kills yeah. I guess I apparently I'm the mean. one spending in a budget I was three out. of 10 because he's still making. purchases that he absolutely should not. be able to when there's that insane debt. in the IRS that that shouldn't exist I. would have put it at a five out of 10. but because that credit card was there. and it was still in his name technically.

I had to bring it down a bit. debt just it we're on a slightly. different scale and and whenever I see. collections or I see IRS going media 0o. out of 10 for me so 0o out of 10. emergency fund I am glad you put $1,000. there that's you know on the way to like. $10,000 but that's going to be a 2 out. of 10 because hey you at least started. it but we're not at the $10,000 he. probably needs retirement there's. nothing 0 out of 10 real estate there's. nothing Z out of 10 so uh that's going. to be an overall Hammer Hammer Financial.

score of zero out of 10. however. however our. Collective what was it uh I was a two. dollar bill dude Bros dollar bill bill. Bros our dollar bill dude bro score is a. 3.3 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 situations if you want to be in an.

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