Military Wife Is Choosing Eating Out Over Her Future | Financial Audit

my name is Roy. um I am based out of Austin Texas I'm 22. and this is financial audit all right. you're pretty young we haven't had. someone that young in a second so what. do you do for a living in Austin Texas I. am a phlebotomist I work at on like uh. a bus usually collecting blood donations. no you're good. oh really so you're just going around. collecting the Bloods yeah pretty much. oh okay I would pass out to have people.

all day when I would be fainting. uh okay very cool what are you what are. you making I actually we have some of. the so this must be hourly because I. have two pay stubs yeah it is hourly so. I sent you one pay step so I get paid. twice a month. um but they give us I think like three. or four times a year I get um a three. week paycheck so that's why one of those. is like way bigger than the other yeah I. don't know oh that was one of the random. the rare three week paychecks yeah oh.

gotcha okay. 21 32 an hour yes and I did just. recently get a promotion so I got a. little bit of a pay increase. I brought it with me all right. congratulations on thank you. [Music]. it was better promote me. uh okay now I get paid. 22.82 an hour okay and I'm gonna be.

getting paid more because I'm gonna do. more things but that's what it's gonna. be in like four days oh you have good. overtime anyway because it increases it. by 12 bucks it looks like so that's. pretty nice but of course in this. statement we only had seven hours of. overtime but you did get 40 hours of. regular pay. uh two weeks okay very good and then. your gross pay here was a thousand nine. hundred fifty dollars one thousand five. hundred seventy one dollars being net. after withholdings and uh contributions. 401K all that good stuff.

so is that more average than that big. one then right yeah pretty much I only. get the big one like three or four times. a year okay and with your pay raise it's. probably gonna be more like. 1750 hitting your account on monthly. basis I'm thinking. maybe so yeah I guess so. 1750 but oh not on a monthly basis on a. bi-weekly basis yeah so of course that. would be. you really think it's one thousand seven. hundred. well I think it's gonna be higher or. lower sounds like a lot to me well.

you're at 1570 well okay well let's just. do some quick math what did you say your. new rate's gonna be 22 22.80 I think is. what it was. [Music]. and you're getting pretty much a. guaranteed 40 plus a little bit of. overtime always. uh I think it'll be like 1 650. okay but. of course with overtime could be higher. yeah could be less. 1650 times that by two so pretty much. three thousand three hundred thirty.

dollars hitting your account on a. monthly basis is that net income what's. your percentage so 401k contribution. um it's four percent. okay and what's a matched two. um I think all of it pretty sure okay. because the employer um you actually. with what you contributed is less than. what you're oh it is oh I'm not and what. you're getting so like it looks like. they're matching almost more than 100 oh. really oh oh but it might be like. certain percentages up to a certain. amount so yeah yeah I don't.

but essentially you put in 58 bucks they. put in 78 bucks oh wow okay. and then that other paycheck was a. little more so okay cool well after that. race we're gonna do 3 300 net on a. monthly basis so let's figure out your. financial situation like I want to know. what we're getting into here is you know. and give the audience some background. what's up what's going on. um well right now I guess in terms of. what I pay for like I'm a renter I do.

roommate with well technically with my. husband and my brother but my husband is. away right now because he just joined. the Navy I want to take a brief moment. to thank today's sponsor so far so as we. know with so many people on the show. people are just burdened down by high. interest private student loans and. because of that they can't even think of. their future what does it even take to. pay those off with the insane interest. rates am I ever going to be able to get. a new car am I ever gonna be able to get.

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is also in the description below find. out if the rates are competitive for you. go geez okay but he still pays a third. of the rent so that's cool. um so I got deployed for the first time. well he's still in school right now and. then he's gonna be stationed at when he. graduates in August so you're gonna do. like the three-year stint or. he's going to be in well he signed up. for four years and that's it I'm not. gonna let that man do any more than that. I'm tired of being by myself but. um he's not gonna go join uh so yeah.

that's the thing is so he got orders to. go to San Diego and so oh no the. terrible horrible city of San Diego yeah. that nobody likes whatsoever. yeah so but I I think I'm just gonna go. with him anyways just because I want to. be able to see him and he's going to be. on a ship so that's like my best. opportunity to be able to see him as. much as possible oh no 75 degrees and. sunny with no humidity all year.

six dollars a gallon over there yeah but. then you get to live in like perfect. climate so yeah also just don't drive. yeah you're right you know what I'll. just live in a walkable area yeah I'll. just be homeless you know I don't have. to be around I can beg okay either way. so. okay continue what's your financial. situation oh yes right okay so um I I we. want to buy a house whenever he's done.

with the military is kind of like the. goal right now. um I mean I'm not gonna dig myself into. a hole to do it but with our plan right. now it's he gets out we buy a house and. then we have kids. um. and then I just need to pay off my car. and that's really it and I don't really. have any debt or anything other than the. car right yeah other than that so we. have the car you you've recently put a. good amount of money towards it which is. great but it's still at 12 180 mm-hmm.

by the way give yourself a score zero. out of ten where are you at currently do. you think like 10 being amazing zerobe. maybe like a six or a five five or a six. like middle of the road five and a half. out of ten okay let's see how that. Stacks up at the end okay. dollar 75 cents very good what's the. interest rate on this it is. 5.6 I think yeah that's in that range. with cars like yeah I mean certainly not.

crazy but with depreciation and. everything when it just comes down to. basic map we'll still want to pay it off. kind of early so. and your minimum monthly payment is what. um it's like. 280 I believe. well okay actually it might be more I. can't remember what's the term length on. that thing it was like the longest one. is that 66 months or something that's. not the longest one or still but still.

but it's still long. I like to follow the money guys rule. the money you guys rule being that. you're putting 10 down it's three years. long and it's no more than eight percent. of your total income before taxes so. pretty much like after taxes and stuff. like that what I like to do I kind of. adjust it to more like 12 post tax. okay Lincoln which doesn't. mathematically necessarily work out but. in terms of net income do we really want. more than 12 going towards I don't think.

so we're definitely three years. but you're making you know why you so. you started making more payments to it. why. um well okay so this is my first time. like buying a car and like taking out a. loan for it so I I didn't exactly know. like wait when did you do it. um like I think in May oh wow very. recently for that yeah pretty grease I. just got it. um but yeah it was my first time doing. that so. um I I guess I I just try to do it the.

best way that I could now and I had like. eight thousand dollars I was like okay. like this is my down payment and then. they like never asked me for a down. payment so I was like okay well I guess. I'll just pay it on the account and like. they gave me the option to put a down. payment at the dealership but I could. only put two thousand down I was like I. don't know why because they want to suck. that interest so I said no and I I just. put it in my what's the car it's a. Corolla 2016. um but it had like 74 000 miles on it so.

yeah it's too expensive for that car I. paid too much money for it for sure. why why'd you do that. because well I was trying to talk the. guy down I really probably should have. said no but. um yeah I was I wasn't sure if I could. find a better deal but I was trying to. talk the guy down and I well he I heard. that you shouldn't like tell them like. exactly like how you're planning to pay. for until the very end so they don't. Swindle you out of your money and then I. he was like okay so like you know how.

are you gonna pay for it and I was like. why you know I was thinking about. financing to the bank unless you can. offer me a better interest rate and he. was he was like okay like what you what. was the you know like interest rate you. got from your bank and then he just I. just showed him like the paper that. shows the approved loan amount I mean he. was like okay well uh you already have. this so I'm not gonna not gonna take any. money off of what the car's worth and I. was like and like all the oil changes. were done on time on it and I don't plan. on buying another car unless I like. really have to like I'd prefer to just.

keep this one like forever so it's like. well I won't be but I get what you're. saying yes okay cool now I see you have. a credit card but you paid off every. month it looks like yes yeah so you're a. credit card person that's lovely that's. rare but uh you know nothing. what's common interest. common interest oh that was the karaoke. bar you spent 183 bucks there it was my. it was for my birthday my husband. venmo'd me for it so I just put it on my.

card and then he paid me back yeah and. then some holy roasts and dakira's. Palapa frivolous spending and sea rains. yeah so nothing really important on here. that needed to happen but you are paying. it off yep. now in your checking account with. available balance 746 which I'm happy. with 747 sorry uh in here okay these. cheaper 7-Eleven trips what are you. doing are you feeling just a little bit. of gas are you going in oh I'm I'm.

getting caffeine. and more caffeine 12 30 cents because no. what. oh wait which one what are you spending. 12 hours 30 cents in caffeine. snacks yes yeah because what are you. drinking. well I I need to have like minimum 200. milligrams of caffeine to start off with. so I usually it's like those monster. coffees with extra caffeine in it or. um the Celsius ones are pretty good like.

those. okay. 7-Eleven but I should not be doing that. so we're getting caffeine we're getting. Fritos we're Chick-fil-A caffeine. restart CBD and some Brewing thing in. Andy's Frozen Custard and some caffeine. Double Apple smoke shop again let's not. have unhealthy habits that are also. expensive habits so that's almost 100. bucks what are you smoking. oh wheat yeah for sure okay in what kind. of form. um well I mean sometimes I'll Vape it.

and sometimes I'll smoke it in the bong. or just get it from my dealer but I. threw away my bong this morning it's. it's an ongoing addiction that I'm. trying to get rid of so okay well not. only the addiction thing in the. financial thing but. really out of all places in our body do. we really want different kind of. chemicals going into our lungs our lungs. of all places like if we want anything. to exist in us it's like our brain lungs. and heart. and we're just putting we don't know. what you know Vapes we we don't know the.

long-term consequences of that Vapor but. either way and then McDonald's. again and then you pay eight thousand. dollars towards the car that's fantastic. so that was the down payment you saved. up but then you just put it towards it. yeah. mid Ramen in Austin okay and. um some more CBD and caffeine and KFC. and Starbucks and TJ Maxx ATM withdrawal. of 80 bucks who knows where that went. Netflix Nomad Bar Austin Whataburger and. some caffeine and Popeyes and Papas and. you transferred in two thousand two.

hundred forty five dollars from savings. why are we doing that okay so. um the reason why is because my dad just. inherited because my grandma died so he. inherited a trust and he you want to see. somebody with some crazy Financial plans. you talk to that man because he does not. have a bank account well I don't think. he does anyway and he doesn't have an ID. so he can't open a bank account and so. he had no way to get the money and I I. was talking to my aunt and she's trying. to figure out how to get this money to. him and I was like well just send it to.

me like all I was thinking I would open. up another savings account and put it in. there for him so that he can just ask me. when he needs it so I emptied my savings. account so that she could send me all. that money I could keep track of it you. know what I mean be like okay this is my. dad's money and this is my money so it's. not like a permanent thing for it to be. in my savings account right now but. that's why I moved money from my savings. and if you want to keep track of things. keep track of your to-do list and at the. top of that to-do list is hitting that. subscribe button because we're trying to. get the 750 000 subscribers thank you to.

everyone who has subscribed so far so. okay that two thousand two hundred forty. five dollars that came in is that all. that's going to come in. um yes that's it okay and then again 500. so the Corolla and Pineapple Express and. Pineapple Express and Uber Technologies. Uber and Wendy's and IHOP and then we're. not 210 dollars. that might have been usually I use venmo. for bills too so sometimes my um my. brother will go shopping and I'll send. him because we do the shopping as a.

group and we'll just pay each other for. half. um in caffeine Uber and Uber again you. have a car over ubering all right and. Whataburger and venomena 610. that was. when I bought my car to pick it up oh. okay the Uber yeah I'm moving out twenty. five dollars definitely not a lot of. monies uh but uh again if that's for. bills so really I didn't really I think. I saw one grocery store in here Rosedale. market for 55 bucks. okay so where's where's the grocery. shopping or do you just eat out every.

single meal so this past month has been. a little bit irregular for me that's why. I've been going to 7-Eleven so much is. because I haven't been grocery shopping. um because I just and I haven't really. been eating anything I also lost five. pounds on accident sorry. um but it's I just been having a hard. time with my husband being gone so. that's why I'm like kind of not only did. I spend a lot of money for like weed and. stuff and like going to 7-Eleven like. buying my one meal of the day there but.

are you bored. I go out with friends a lot because. that's what all that La Palapa and stuff. is I'm going out with my co-workers. because I'm trying not to be at home by. myself so I'm just trying to yeah but. also like going on drinking and eating. is kind of expensive so I need to stop. doing that but um yeah I know I've just. that's why I haven't been grocery. shopping all the BS spending was just. over a thousand bucks. which isn't crazy but it sounds like a. lot to me well it is a lot for your.

income for being spending it's a third. of your income yeah so that's kind of a. lot if uh but then again if that's all. the fun you're having and you're not in. a bad situation then if that's the 30. that you want to put towards having fun. okay but I would rather get you out of. your card debt now first and then last. but not least but there is a savings. account what's the current balance in. there because I know things have changed. what's in your savings right now I. believe it's like 22 500 dollars.

all right I think we have found. uh but that's my dad's money that's not. my money well what's your money oh my. savings yeah oh I haven't really care. about your dad's one allocated a set. amount for savings because. um I've just been kind of doing whatever. with my money. what's your savings what do you have. like in my checking account right now. no that's all my money in my checking. account. you don't have anything else outside of.

that no where the 8 000 come from eight. thousand dollars well I had it already. that's what you saved up yeah so right. now the 700 my husband gave me. so right now the 700 in your checking. account is all that you have towards. your name what'd you send the savings. that's your dad's it's not even yours. like what what are we doing. what do you mean you set the savings. that showed 25 23 000 oh yeah no no no. that that's just in my savings account. but it's not yours no it's not mine so.

your dad's money's in your savings. account yeah because he doesn't have a. bank account oh my God this is weird I. know. how old is this dude. um well he's like 56 or something like. that is he like a weirdo that yeah he's. a weirdo he's a weirdo for sure. all right so well now I'm a little less. happy I was like all right we're gonna. pay off the car today and we're gonna. have pretty much a fully funded. emergency fun nope. sorry to brush your bubble bursting.

it's only a third on fun oh we have all. that I'm glad you saved up 8 000 to. begin with and I am glad you put a good. down payment down on a car we can you. know I mean it kind of was but you. didn't do it the traditional round but. either way right your portion of rent. six hundred and ten dollars incredible. for Austin but that's what the roommates. they got a backyard oh it's a house yeah. it's a duplex I got three dogs so I need.

a backyard oh very good very good I have. a puppy too but he's in my bedroom oh so. he didn't jump all over you when you. came in oh that's okay okay and uh your. portion of utilities. um so uh me and my brother are splending. it in half since my husband's not there. so he's not paying any of it and usually. it's uh around this time it's like. between 1 50 and like one person oh so. my portion would so third of them about. like uh. 75 to you so you pay half yeah okay.

maybe 80 bucks I guess what's your car. insurance. um my car insurance well it freaking was. 140 and then they canceled it because. they didn't have I don't know it was. weird like I put I had to get the. insurance before I took the car home. right because the dealer wouldn't let me. take the car home so I got it and then. they sent me a letter in the mail saying. like oh like we don't have your name on. the title and I was like what are you. talking about I just bought it but I. guess it's because when I started the. insurance like I wasn't on the title yet.

or something like that I'm not sure but. anyways I just restarted it yesterday. and I was playing phone tag with them. because they kept me around and not. doing anything and how much is it went. up to like 200. something maybe like 250 or something I. can't exactly remember so I'm getting on. gas a month. [Music]. like 60 or 70 dollars doesn't fill up.

very much yeah. though it is a very driving independent. like you need to drive in order to live. in Austin once you're directly downtown. or in the domain Okay so. Healthcare is that through work. um I have my husband's health insurance. so I don't pay anything. other minimum monthly expenses oh well. we have the car payment it was 280. I. forgot my so my gas bill is separate. from my utility bill that's oh so you.

didn't include that no yeah sorry I. forgot it's usually like 20 dollars. maybe for my portion. okay I'm Gonna Give You grocery spending. of which is what you're going to be. doing now is getting groceries like a. big girl of 300 and then I'm giving you. toilet paper anything else you need for. the house make up all that good stuff. hundred dollars. for groceries is enough for one and a. half people because you have a kid no. it's my younger sibling but me and my. brother we we just put the groceries in.

house like 16. is he is he the brother. that you're talking about that splits. the payments no no my older brother yeah. and then my younger sister. younger sisters who you're taking care. of yeah okay and you and your older. brother uh both take part in this. kind of sort of yeah taking care of them. and the younger sibling I don't really. do anything except for get groceries and. stuff but this is the main yeah okay.

what's the situation there why is he. living with you guys well as we've. established my dad is weirdo so. um my sister oh no she's crazy they're. all crazy okay. huh. I'm gonna allocate just an additional uh. since someone else is also helping to. put into it I'm gonna have you put in it. it's only groceries and other little. things that you're helping with are you. helping with more stuff too like school. supplies and like what are we what does.

it look like oh just just food yeah. I mean I'll do the odd thing here and. there but. um I mean I don't think it's really. anything usually expensive okay like. I'll get them pants sometimes but then. I'm gonna put on a monthly basis an. additional 250 bucks that you can put. towards that a little more than I was. gonna go but that's just in case there's. pants and shoes and stuff like that so. let's try to have that less this is you. put towards the brother fund your. portion okay and then uh you know. whatever else comes from the other.

side's awesome too okay I put it that as. a Max of 250. make it a little lower. when you can but then when those odd. things pop up that you should help with. you said 16 as well. um yeah okay he can also start you know. working on some Mickey D's if he wants. to bring in some extra money right does. he have a car. um no it's my younger sister. no she she does not have a car nope she. has a bike that's like electric and. stuff so she gets around that way yeah. and you're pretty close to things. um yeah I would say so okay then she can.

start getting a job as long as it does. not detract from school and does not put. her in like a bad mental health place. with the balance between school and. stuff but yeah she can also help okay I. just want a friend that's right she does. not necessarily need to be fully. self-sufficient right now but she can. she can start gaining some of the skills. of contributing yeah but she's probably. not going to because. um she's going into a self-paced school. right now so she's trying to graduate a.

year early so the kind of the plan was. like just focus on school. um well probably at the beginning of. next year yeah but by that time I may be. in San Diego so it's kind of for. relevant to me okay just one thing to. consider going out there I'm way on the. outside of this conversation so I don't. want to make any immediate adjustments. right just make sure as we're heading. into the next year and heading towards. 18. skills are good to learn we do not want.

to be enabling anything of course not. any leaning on people well actually. leaning on family is good in a healthy. way I just want to make sure not. excessively yeah yeah for sure. through a weird family situation that is. currently there with parents that are. not in the picture I want to make sure. she is fully successful when she hits. that adult age in her culture to go out. and make a path of her own without. having to rely on others right leaning. healthily I'm healthy in a healthy way.

on family and friends totally good. nothing wrong but just making sure that. she's fully set up any other minimum. monthly payments you can think of. um oh um you know you should probably. put on there I have to pay let's see. well I buy a lot of dog food so it. probably comes out to like uh. 120 a month Maybe. I have big dogs. typically the way I do that is I put. that in your own groceries oh oh.

so I'm changing your food budget to 400. okay that that works. I just get the HEB brand so it's not too. expensive. and you're canceling all your other. subscriptions because you do not need. them right now like Netflix of course of. course. [Music]. I don't really want watch Netflix anyway. so I guess I don't need it who does at. this point.

okay so your needs category comes out to. two thousand sixty dollars and after. your raise. not taking into account much overtime a. little bit of overtime and not much uh. after your raise. your needs category. is. 62 of your income so that's too much. yeah that's too much and that's with. also helping your younger sister. but even still take that away and you're. still well above fifty percent fifty.

percent should be the maximum that goes. towards your needs 50 so what we need to. do here is. you know when you're moving to San Diego. which is I'm gonna say well I mean the. income situation will change then too. because you'll need another job so it. just gets weird essentially yeah what. needs to happen right now is needs are. cut somehow where do we make wiggle room. in the knees I don't know I don't want. you to you know starve yourself I don't. want you to not give your little sister. what she needs I don't want. you can't break leases or anything so.

well actually we can break a lease. because there's a clause in leases for. people in the military is your brother. going oh well he we already talked about. it and he said he was fine to just stay. at it sounds like a bad decision to me. it's hard to tell right now because like. everything the military tells us the. next day turns out to be a lie so don't. ever trust the military but he's. supposed to get he's gonna my husband's. gonna graduate in August and then at. that point he should be able to take. maybe three weeks of leave and then we.

were going to spend that time to move. but we have to get on a wait list for. the housing so we're not even sure if we. can move by that point we may have to. wait longer. so everything's kind of kind of cluster. free now yeah. yeah it's hard to make plans. it is but I'm not gonna screw myself and. go to San Diego without a job or. anything because I mean I have a good. job here that I like so well your needs.

are obviously too expensive but you do. have a thousand you 240 left over on a. monthly basis with some overtime that's. in there so we can start making progress. through things and we can have an. emergency fund and stuff like that but. is there well yeah celebrate but is. there but the amount of time that's. necessary in order to get that. is well beyond the when you would move. even if it's delayed a bit right so it's. like okay how much of a plan is going to. be a plan right now so should I just. work some a bunch of overtime well.

absolutely do you have the option to. work as much as you want yeah I can work. as much as I want you work a lot. okay stretch that to four thousand four. thousand five hundred dollars that's. coming in net monthly net yeah okay go. crazy because you're working what 45. hours from now or something like that 44. hours. work 55.60 55 60. go crazy go crazy. because you're moving let's get you. might as well right let's get you in a.

clean spot it doesn't matter right now. you're looking for distractions anyway. at this point because you miss your. husband and you're going and spending. money right now let's use that time and. just be making the money right now okay. so you're do what because the cool thing. is if you have an extra net 2 000 a. month I mean. just for the sake of moving and the. expenses around it you know for two and. a half months save up five thousand. dollars which is two and a half months. of emergency fund for you right now that. covers some of the moving expenses when. that needs to happen you know putting.

down security deposits and stuff like. that well never mind yeah because we. don't really have to do the military. will pay to move all of our stuff okay. maybe we. um save up four thousand dollars just. for a little extra safety net than we. would normally have in this situation. but. but then. everything after that four thousand. dollars for these coming months you're. just putting it towards the car putting. towards the car trying to get the car. balanced you know after a few months. maybe down to six thousand eight.

thousand dollars because you're just. going crazy but that's if you're here. going crazy for like six months I don't. know if we're gonna be here going crazy. for a total of six months from now I. don't know because August that's coming. up in a couple months yeah and then. you're thinking of moving like what. after that so I I don't know a lot of. this depends on that and then what the. income situation living and living. expenses look like there obviously the. military's taking care of a lot of it. but you know. cost of things are also higher as you. mentioned with gas there but rents in.

living shelter overhead is usually. someone's biggest monthly expense anyway. and that's not something you're gonna. have to worry about. so. foreign. you should really work like crazy when. you're there just go wild in whatever. position you're in even if you're making. a little less money you know hopefully. your needs category will be less it. should be maxed out of 50 anyway but it. shouldn't be getting close to 50 with. the situation you're in at that point. and everything else should be getting. this car paid off because then you're.

gonna have your car fully owned owing. nothing which will be very fun very good. and then how much do you have in your. 401k right now I believe it's like six. hundred dollars like I had just started. the exciting part is you're 22 and. usually I get on people here who are in. their 30s and stuff like all right. invest your best decade of compound. growth I mean by the time you're out of. the car. and uh the income I don't know what your. income will be it's so hard but your. expenses will be less what I want to see.

is a fully funded emergency fund which. is six months of living expenses minimum. ten thousand dollars is the case of car. breaks or something like that our. medical thing happens minimum ten. thousand hours and the car paid off by. the time you're you it was just your. birthday right so the time you're like. 33 and a half honestly so a year and a. half from now I want to see the car gone. on a fully funded emergency fund and I. don't see why you shouldn't be able to. do that especially if before you leave. to move just go insane go insane and. work 60 hours a week okay 70 hours a. week I don't care go wild just work work.

working the budget that I gave you you. do me next year right not when I'm 33. because I'm 22 right now I'm just 23 and. a half 23. okay just just make sure. tilt this target chip but yeah 23 and a. half. so. um which is great because then what I'm. gonna have you do is at a minimum maxing. out your Roth IRA every year and you're. maxing out your Roth IRA every year from. where you're starting with compound. growth it's the time you retire Dude. You're Gonna Be A Millionaire you're.

just straight up Gonna Be A Millionaire. unless you're investing in some stupid. stuff we're not going to talk about that. because I do not have the legal. qualifications to give you investment. advice okay that's fine I do have a. question about the 401K stuff. um. so. okay no I just lost my question I'll. think of it later okay but either way if. you're just investing in the General. stock market which is not advice which. returns eight percent a year on average.

since the you know historical. Inception of it to now. you're going to be a millionaire if. you're my Snapchat rothfire every year. and doing that not a suggestion but if. you do it so okay like that's exciting. and then there's I remembered my. question sorry okay so if I move jobs. because your 401k is like with your job. does that mean you have to like You're. Gonna Roll it over it yeah you're gonna. roll it over into something like. Fidelity that's where I rolled mine over. from my previous employer oh and then. you just keep it there.

or wherever you've rolled it over to and. you can roll it over again if you end up. wanting to but okay uh all right yeah. it's actually it's actually really. simple and usually I was like. well the platform said you're rolling it. over to I again I only have experience. with Fidelity in that instance but they. just gave me instructions and it was. super easy okay good that's why I. haven't started 401K yet because I was. like kind of I've had a lot of jobs so I. skip around jobs a lot well that's my. history I see you actually with ADP with. the payroll and if they have their uh. 401K through there as well that's where.

I transferred mine through and it wasn't. that difficult so oh okay okay cool. great no it'll be pretty chill. in general your financial situation. isn't that complicated what's a little. weird here is the unknowns I don't know. how long you're gonna be here I don't. know how much over time you're actually. gonna do I would just go crazy and see. if you do if you don't I mean the. situation drags out to like three years. and I don't know. in terms of paying off the car I have a. full 800 emergency fund and I don't know. what your income situation is going to.

look like when you move anyway and what. living expenses are going to look like. either and just what you do so a lot of. it's dependent on what you choose to do. what I would lay out as a path though is. take whatever path gets you to a couple. months of emergency fund now because the. move is going to create some unknown. expenses you never know right so a. couple months of merchants fund and then. paying off the car as quick as you can. and then saving up a six-month emergency. fund ten thousand dollars minimum in. case of a medical expenses or like the. car breaking down or whatever okay ten.

thousand dollars because when it rains. it pours so right right. so from there and then do I just keep. that ten thousand dollars like in my. regular savings yeah put in a high yield. like uh sofas that's where I keep mine. Link in the description below at 4.3. interest rate there's actually bonuses. when you set up direct deposit like 250. bucks which is something you could do. actually do they do like a. um a credit check when you apply for. that or anything because I could do this. is my credit card yeah uh my credit card. the bank it says I can have a high yield.

probably yeah yeah and it's but it's. probably well unless it's I think it was. like 4.6 but maybe I know Capital One. has a good one currently but I do yeah. do you have to pay monthly for that. savings account no dude they're paying. you they want you to have your money oh. okay cool yeah they're giving you uh. like for again with the one I use 4.3. percent. okay on an annual basis I will do that. then. yeah so that's something uh worth. considering then yes this is sitting. there and then you're maxing out your.

Roth IRA and then trying to get as close. to with your income situation is going. to be hard but who knows what it's gonna. look like but as close as you can get to. maxing out your 401K 20 minimum of your. income should be going towards investing. in savings of some kind okay at the once. the car is paid off once the car is paid. off fifty percent for needs 30 for wants. 20 for savings I'd rather you do 25 for. savings than 25 for wants and 50 on. needs but yeah.

okay. okay. do you think I should open a high yield. savings account for my dad's trust fund. too sure if if for some reason managing. it which you you should get some legal. paperwork explaining the situation. around there by the way I should yeah. gosh I don't want to do that well it's. just. it's weird I know it is weird. plus he gave it to you to put in there. and it's like legally like he gifted it. to you so maybe there's taxes it's a. weird situation oh.

you're right maybe I should just take it. all out and give it to him. I that's the get it out of my that's the. safer way for you okay that's what I'll. do I don't want to get in legal don't. let him be a big boy and figure out his. own life you're right you're right. come on. yeah so that's all what I do what are. you actually gonna do knowing yourself. okay so in terms of overtime I uh my S. the length of my shifts I can't really.

like work always like 10 hours if I want. to it just kind of depends on like how. long the blood drive is well you made it. sound like you could work as much as you. want well you know I can pick up as much. as I want. um but I mean should I work seven days a. week like sure I don't care take. advantage of the time now when you have. nothing else going on to just pay off. the debt and get close towards your. goals at some point you'll have things. going on in life stuff with your husband. and everything that you'll want to. dedicate more time aside yeah when you.

have kids you mention that as well okay. take the opportunity of the time where. there's nothing there's no other. obligations right to just pay off this. debt and save up as much as you can so. yes go crazy okay I think I could. probably pick up I definitely think I. could easily pick up one extra full. shift maybe my seventh work day could be. like because you could I could do like a. half shift that way I could still clean. my house. okay yeah I think I can do that pretty.

good. yeah. um you see and then you're saving up to. two months paying off the debt and. saving up ten thousand hours or more. depending on your six months of living. expenses right yeah so with paying off. my car and saving up for an emergency. fund. um should I just should I just pay off. all of the car first and then have save. up for the emergency fund or do both. again we're doing two months of them two. months of monthly expenses saved up on. the side and then paying everything. towards the car and then saving up the. six months of merch is fun minimum ten.

thousand dollars you're doing that just. because what we've seen even if people. following like Dave Ramsey's planner. it's a thousand dollars on the side. we've had multiple people people on the. show of the following that guidance then. because an emergency pops up and one. thousand dollars isn't even close to. enough of dealing with real emergencies. in 2023 they end up in a worse situation. than when they then where they were. before starting his baby steps so I'm. just saying make sure you can cover at. least a month and I'm giving you two. months because who knows what's gonna. pop up with uh the moving expenses right. sorry oh I forgot to tell you my phone.

bill it's 15 a month. okay. yeah it doesn't really change much but. it's good that's really cheap that's. really cool I only pay it once it once a. year anything else no I don't I don't. think so but can I write this down so I. can remember it we'll talk about that. okay and then uh yes well I'll give you. all that okay you can also watch the. video as well but oh yeah that's true. right but while we're here and recording. this for the masses. um I think you can be in an okay place. just sacrifice now and then figure out.

the income moving situation follow the. steps that I laid out and you'll be a. millionaire by the time you retire okay. it's exciting right. I will not mess it up yeah I have I. don't want to be a phlebotomist forever. either so I'm not going to be making. this on income for the rest of my life. anyway do this go crazy a year a year. and a half we should have a follow-up. and you should have a fully for an. emergency fund and a car that's. completely paid off okay okay sounds. good all right for Roy actually her. Hammer Financial school is going to be a.

little lower right now because of a few. specific things in the categories and. you'll see but I think it's gonna get up. pretty quickly so breaking it down. remember Financial score spending within. a budget I mean spending a third of your. income on BS when we have no emergency. fund and when we have that kind of card. debt it's going to be a zero for the. debt though it's not the worst debt by. any means it's not a super high interest. rate but it is a car so it's gonna have. to be a three out of ten retirement okay. for her age you know I'm glad it started. but there's still pretty much nothing. right now we just need to get that up.

but you know 22 can't blame her too much. but the overall Hammer Financial score. is not age-based it's trying to get to. that 10 out of 10 as you go through the. ages right now it's going to be a one. out of ten emergency fund there's. nothing to drained it put it towards the. car which I appreciate but there needs. to be a little cushion still zero out of. ten real estate nothing but they're. talking about that zero out of ten right. now Hammer Financial score one out of. ten check out the resources that I. Linked In the description below they're. the ones that I use or would used in. specific circumstances like a very high.

yield savings account that I personally. use or getting a free five thousand you. put five dollars into acorns and other. things like education and stuff like. that so check them out and don't forget. to follow me on Instagram and Twitter. thanks refinancing your student loans. can help you take care of your finances. so take the next step towards Financial. Freedom and visit soulfly.com forward. slash Caleb find out if the rates are. competitive for you by going to the link. in the description below.