Mom Took Out Thousands Of Dollars Of Debt Under Their Name | Financial Audit

Hi, I'm Tilly. I'm 26 from Austin, Texas. and this is Financial Audit. So, what do. you do for a living in Austin, Texas? I. to put it simply, I am a website. onboarding specialist. Okay. I work for a marketing company. that caters to event rental companies. and so we help them market themselves. and I'm on the website team where I. help people learn how to use their. website back end and I also.

uh well, design websites for them and. stuff like that. Really? Yeah, it's a lot of fun. That is. fun. So, what do you what do you bring. in for an income? Uh I make 20 an hour. and I work about 40 hours a week. Um. and then. from from there. I. Oops, sorry. Um from there I. Yeah, I make 20 hours 20 a week and then. sometimes on the side um if someone. wants something special or requests.

like, "Hey, can you design a logo for. me?" I do graphic design on the side. Yeah, which the company allows me to do. and so yeah, tip- typically I'll charge. like $95 per logo for simple stuff, but. Okay. Yeah. So, all about $3,400 a month? Um. yeah, yeah. Maybe a little less just cuz I'm not. always picking up the the full 40. Um. oh, no, no, no, not that the Well, that's with full 40, but that's. yes. Before taxes. Well, before taxes, yeah.

So, that is correct then? Yes. Okay. So, very cool. And then how much do you think you're. making on the side? Um it really. depends. I just recently started this. job, so I haven't done a ton of logos, but I've been doing my side business for. Oh goodness. Um. almost uh 7 years now. So, um And has it. been successful? Um it was. when I was doing it full-time as like a.

full-time freelance graphic designer, um. it was enough then um when I was living. with my mom, but now uh nowadays I just. kind of I'm more choosy about the gigs I. take and um currently like having. started the new job and we're in the. process of moving, I've slowed it down a. little bit, but normally I'll probably. take anywhere from six to 10 um side. gigs uh logo work um a year. Okay. Wow,

okay. Yeah, that's not many at all. Yeah, no, it's not many. at 90 each, okay. So, we're not even. going to calculate that. Yeah, no, that's fair. That's fair. That's fair. Into your overall financial. situation, what are we looking at today? You know, where have you been? Where are. you now? When what what what can I help. with? Well, um started real bad. Now I'm. on the way of. doing better. Yeah. Um and you know, just take a look at things, see where. what else I can do to kind of clean. things up a little bit. Um. I.

It's been a wild ride for me. Yeah. Um. yeah, it's been a wild ride for me. I. uh. So, in. 2019. I was living with my mom and she. she deals with some mental illness, which is, you know, totally fine and I. wanted to be supportive with her through. that, but she was refusing to get help. and treatment and she was in a really. bad financial spot herself. Um her car.

had been repossessed, so she took mine. from me. How? Wait, how old are you? Wait, 2019, so you'd have been 22? Yeah, yeah. How'd she take your car? I was living with her and so this goes. back another car. So, um. Was the car in your name? No, we had. left it in her name because it was in. the same driveway and we wanted to save. that 500 title $500 for the title.

change. Okay. Yeah, yeah. So, she took the car. She took the car from me um and you. know, and so we were both commuting at. the same time. Like I would, you know, drop her off at work and then go to work. or vice versa. Um and then one day she. had a complete meltdown um where she. just she was in the car with me and we. had just parked. I she had had me buy. her dinner.

Um and she snapped. It was. probably one of the scariest moments of. my life. Really? Um and. Snapped how so? She started screaming at me and then she. left the car, went inside. and. um just the way she was moving, I was. like, "That feels almost inhuman." Mhm. And so I called a really close family. friend of ours that we'd just been. talking to who was giving her financial.

advice and. I had him on the phone and I was like, "Uh can you mute yourself? I'll put you. on speaker so you can hear what's going. on." He was like, "Absolutely." As I'm. getting out of the car, I see her open. the front door and throw my cat in the. air into the garden. screaming for everyone to get the. out of her house and get the out of. her life. I go inside and she's throwing. pots and throwing papers. She used to.

let the mail stack up. She was too. anxious to open it and so she took this. big stack of mail and just threw it at. everyone. Um my stepdad Brian was there. and he witnessed this as well. She got. in my face and told me I'd never be. successful in life and the only way I'd. ever be successful is cuz I have a. pretty face. Um she called me a few slurs, which was, you know, whatever, but at that point I was like, "You threw my cat.". Yeah. You're I'm you're I'm I'm done with you. Mhm. I'm.

I don't know who this person is in front. of me, but you're not my mother anymore. Yeah. So, I packed up my stuff and I. was luckily I had a um a friend in the. area who let me crash on their couch. They were going to Australia. Um so, they had me house sit for them. Mhm. And. I worked my butt off. I didn't really. have anything in the Houston area, which. is where I was. Um and so all of my.

friends and basically my support network. was up here in Austin. Um And so I. busted my butt and applied for every job. I could. I applied at every fast food. place I was offering full-time. I needed. full-time um for, you know, being able. to sustain myself and I. um I applied at all the hotels. I ended. up getting a job at a hotel here in. downtown Austin. Um moved up here, I got. lucky on rent. Um there was a place that.

was like moving away from doing student. housing, but still leasing by the room. and they were just trying to fill rooms, so I got my rent for a 50% discount. So, I was paying $290 a month in Austin. That's crazy, yeah. It's crazy, but also. the the place re- reflected that price. Sure. Yeah. But you had a roof over your. head when you were trying to escape a. crazy situation. Yes. Yes. Absolutely and thankfully. Austin has really great transit, so I. was able to take the bus. Never heard. that before, but Oh yeah, no, I took the.

bus. No, I've never heard Austin has. really great transit. compared to Houston, Sure, yeah. the bar is low. Yeah, yeah. And I um my. now partner David, he helped me get my. together and when I was looking for. an apartment or like looking for at my. options, it was the first time I checked. my credit. And I think I might have the I might. have had the lowest credit score you've. ever heard. What? It was a 320.

Yeah. That's definitely How? What What did you. have? What was your debt? So, it turns out that as early as I. believe 2000. seven, my mom had opened credit cards. under my name. and defaulted on them. And there was tens of thousands of. dollars of debt under my name. before Was Are they in collections right.

now? Nope. Good. Yeah, got it. How'd you do that? Um a few things. I First off, I reported. the identity theft to um. identitytheft.gov. and that helped and then I worked with a. credit repair company that actually did. their job. Um. and they went through and they disputed. everything and now there are only two. things left on there that are a.

have already gone past the um. uh what's the word? The time. Has it been seven years? Yep. Oh, very nice. And so they have pretty much fallen off. They're still trying to collect and they. keep calling me and it's like, well, I'm not the person you're looking for. Yeah. But. And it's it's probably too little money. for that to be worth any kind of legal. Exactly. They actually tried. Really? For like $1,000 they tried to take me to. court for it, but the court said it's.

too late. It was past the statute of. limitations. Yep. And so now my credit, a lot of hard. work, a lot of missing out on fun stuff, but now my credit um I checked it the. other day when I was sending everything. to you, I have a 710. Wow, okay. Yeah. So, you sound like someone that. almost like would have like come on the. show before. Yeah. and then like went through the. process and cleaned stuff up. We still. have debt. Yeah. But. I just wanted to take a brief moment to. give a shout-out to the checking account.

I use and the savings account I also use. that is high yield and that is SoFi. SoFi is an all-in-one banking app that I. personally use for my money management. when it comes to my checking account and. when it comes to my high yield savings. account. At the time of recording this. video, their high yield savings rate is. all the way up to 4.3%. That is so hard to beat and I am taking. advantage of that all day. So, if you. follow the link in the description below. and you set up direct deposits, you. could take advantage of a bonus of $50. or all the way up to $250. And that's a.

bonus I personally took advantage of. So, yeah, I just wanted to give them a. quick shout-out cuz I personally use. them and the link is in the description. below. You've come a long way. Yes. Very. good. Thank you. Oh. I'm Proud of you. Thank you. Thank you. I'm. And if you want me to be proud of you, you should hit the subscribe button. because we're trying to get to 750,000. subscribers. Love you. Do it. Do it. Well, good. Well, Thank you. You Okay, yeah, you definitely came from a lot. That's a wild story compared to what a. lot of people have to go through and so. Yes. Um.

Very good. Now, I see a mortgage thing. Is this. mortgage open cuz I got some notes and. everything. So, is this a mortgage. you're trying to get or is this mortgage. open? We have applied for it. We are. under contract. We're building a house. in North Dallas. Um so, they actually are breaking ground. on it next week, I believe. And so, we. are under contract for it and so, this. was I sent in our mortgage application. to you. Um just Well, my partner David,

he he was like, "This has all the. information he's going to ask for so, just send this." Is it a cheap new. build? I know, right? you all put down? Oh. May I ask him? Cuz he's the one who would know. I'm very bad with remembering numbers. and where they go. Uh well, let me see if I can if it's in. the notes. Okay. Oh, just 15,000. Yeah. So, loan amount is only 291,000. I mean, for. Texas, I guess Dallas is just much. cheaper. Yeah, and it's like not in the.

super populated parts of Dallas. And because of a program mortgage credit. credit certificate tax credit refunds. 20% of the interest you pay. Oh, so. funked Okay, okay, I see what it says. So, you're going to be at 7. 125% but with the tax credit refund, it's going to feel more like 5. 7%. Yes. And then also, get back. Well, are. you on this or is it just Yes, we're. both on it. Are you married? We're about to be.

Okay. So, essentially, our kind of. decision was. do we want to get married first or buy a. house first? And he works in mortgage. finance. He's a data analyst and so, he. was like, you know, oh, sorry. It's. okay. I'm just moving it in your. direction. Thank you. So, he was like, you know, let's. I know the house is important to you. You want a stable place to stay and I. know the rates aren't going to get much. better so, let's do house first, one big. financial commitment at a time and after. we get the house settled, then we'll go.

through with the other part of things. Okay. Oh, interesting. Yeah, I mean, there can definitely be some legal risk. there but when are you all getting. married? Uh we're shooting for next. October. Okay, so the minimum monthly payment. will be basically 2,000 bucks. Yep. How. do you all do finances right now? Do you. split everything down the middle or like. what's going on? 50/50. Okay. Okie dokie. And then you have some student loans. left. Yes. What did you go to school for? I. originally.

Can I brag a little? Go for it. I got. scouted by 36 colleges for a theatrical. lighting design. So, essentially being. an electrician for stage shows and. performances. Yeah. Um That's fun. Yeah, so that's that's my. little brag. Um but I. I ended up getting injured and I Well, I. went to the University of Oklahoma. I. got injured and had to drop out of the. program because I couldn't lift. anything. Oh my gosh. Yeah. Um and then I went to At the time, my.

dad was going into retirement due to his. disability and so, I went I moved to. Florida to go to school at Full Sail. You've been everywhere. I I. Full Sail. Yeah, yeah. Okay. Yeah, I went to Full Sail. for um. business communications and media. studies. That's the full title. Okay. And so, I was over in Florida and also. helping my dad with.

getting used to retiring cuz my dad's a. bit of a workaholic so, that was a tough. transition. move with him after you were kicked out. of mom? Um. so, I love my dad. He's a wonderful. human. Uh he is part of a religious. cult. What's the cult? Um Does it have a. name to it? It does. I don't feel comfortable saying. it on camera but. like an actual cult cult cult? Yeah, yeah, yeah. Well, it's a it's a. religious cult. It's not a like. sacrificing people cult but it's.

it's a cult. When you say cult, like some people will. call like. Scientology a cult. Is that what you. mean by that? Yeah, in that vein. But not like a legitimate like Waco type. cult. No, not a full Waco thing. So, he doesn't support with the religion. he's in and he doesn't support you? Um. he would support me if I would return to. the religion, which. I like who I am so, I don't want to do.

that. And so, he's been very supportive. of me as an individual but not. and he has helped me a few times. financially like once I got the flu and. he sent me some money so, I could go to. the doctor and like get medicine and. stuff. Um so, that was very kind of him. and I repaid him as soon as I could. So, essentially living with him just wasn't. an option. Yeah, no. So, 13,504 dollars in student loans. Some are subsidized, some are. unsubsidized. It's basically split down. the middle so, I'm guessing the rates. are going to be anywhere from 4 to 6%. depending on the loan.

They're on pause right now. They're. going to resume in just a couple months. It's probably going to be about 150, 175. dollars a month in minimum monthly. payments. Yep. Do you have any other debts? Uh I do have some credit cards. Um Debts though? Debt? Like. Did you say death or debt? Debt. Debt? Um. No. I have what's about to fall off my. credit report from my mom, which is. I wrote it off because. So, everything else is just Whatever So, what are your goals? What are we trying. to do? What could I help with? So, I.

want to get to a place where I can go. back to going to therapy weekly. Um Weekly? Every other week and I want. to. really, I just want to make sure I'm on. the right track of things. Um I. want to just make sure that I'm setting. myself up and David and I up for success. cuz I love him so much and I do. sometimes feel like I'm a bit of a. burden to him because I am.

or at least coming into the. relationship, I was financially. illiterate and I still struggle. Like I. struggle with remembering numbers. Like. even like getting here, like you gave me. like the code and I could not remember. it. What? I don't think memory of. numbers is necessarily bad finances. Not. It's just discipline and the actions. surrounding it. I don't think not. remembering numbers. bad. Um Okay. Well, well, let's look at the. full picture and then see if you're on. track and stuff like that for your age.

Sounds good. And yeah, I have a. a lot of anxiety around finances and. numbers, especially just due to how my. mom handled things and kind of how that. ended up for me. So, there's a lot of. anxiety there and so, I figured, you. know, I'll come on here, be a cool. little yay, someone did something right. and now be like, okay, now what can I do. to keep being better? We'll start with. the credit cards on here. Uh you pay off. your balances every month so, we don't. have to worry about that but you did. spend.

So, on a monthly basis, we are bringing. in 3,000 We're going to We're going to. be tracking your spending over there. Yes. And I guess gave you the 771. dollars to spend on this card. And I will say May was a weird month for. me because I ended up being between. jobs. I'll say it again on camera but. Well, I don't weird month. There's. always weird months. Every month is a. weird month. Um yeah. Dutch Bros. and we mentioned this. was therapy. Yes. So, yeah, that's a.

really weak and then Amazon, Notion. Labs, Dutch Bros, Steam games, Amazon, some therapies and then some gas. And. then Well, and some taquitos going into. gas stations and buying things, I'm. saying. Uh what What amount was that one? Well, that was 20 bucks unless you're paying. for the gas inside. for gas inside and I got a drink cuz I. had a coupon for a free drink. Okay. Got you. And then Notion is a software. that I use for organizing my life. Do you.

for it annually. Okay. Yeah. If that's an annual payment, that's. fine. Yeah. I was like. Yeah, trying to get work covered for. things but that's fine. Then 305 dollars. spent on the other one. This is the BS. card. This is where you're giving to. someone else's Patreon and taquitos and. Amazon and Start Playing and inside, you. know, taquitos and Start Playing and. Domino's and Start Playing, some. drive-thru, Start Playing, Terry's, P. Terry's burgers and Shock something.

Shockbyte. It's. they host servers. Got you. And TEBEX. and Patreon again. What's TEBEX? Like. can I see that? Can I just see that? It's the second from the bottom. Oh, that was um. Wait. Looking at it. Okay. Oh, yeah, that was. I bought a game module. I play D&D. and so that's what the start plane is. and also the patrons for a little bit of.

software. I. I used to run my games. Keeps track of numbers for me. Got you. Now in your checking account, this is. where a lot of other more BS money was. too, but I'm nervous. Even without the. debts and you have some student loans so. your debt situation is not crazy and. some things are going to be fun after. collections that your mom did which is. terrible. But $11 actually no, your. checking account ended with $10. Yes. That's kind of dangerously low. Yes, it is. And if it's dangerously low, should we really be getting taquitos and. taquitos and gazai or gaiazo and DD BR?

Gaiza is software I use for work that. they reimburse me for. Okay, they. reimbursed good. Appliance Warehouse. That's our washer dryer. Washer dryer, wanted to make sure. Put a question mark. next to it. GoFundMe, should you be. GoFunding someone else $11.50 when you. only have $10 in your account? I don't. know. Wizards of Coast and Amazon and. Google thing and Dominos and Steam games. and Steam games and Sticks McKinney.

PayPal Steam games and PayPal and out. some money to your partner I think and. Actually to his brother. Oh to his. brother, okay. And paying for your. Linktree again, that's as much as what. you had in your account. Do we need to. be doing that? I actually when I saw. that I cancelled it. Spotify good, same. amount as what would be in your account. more actually. Spotify and Raising. Cane's and taquitos and selling money. out selling money out and taquitos and. taquitos and potatoes. The Zell the last. two Zell money outs were to David which. were for groceries. We got in terms of.

BS spending. only like $463, but actually I don't think that that did. not include the inside spending of the. things that you were doing. So it's. probably closer to about 600 $600 BS. spending which depending on the. situation isn't always bad for you. I. don't know, but we're we'll see. Let's. get the full picture though. That's fair. Also just random funny. thing David also watches your videos. I showed them to him and he thinks it's.

really funny that you all the like. inside gas station is taquitos now. Yeah. We buy ours in bulk from Costco. You actually get taquitos We actually. get taquitos in bulk. So the gas station. is mostly me getting drinks or trail. mix. Sure. Which I should get from to. Costco but. Yes, buy in bulk, keep with you. Savings, this is interesting. We started. with 4212. Yes. 368 went in then you took out 2192. Where did that go cuz we ended with. savings about half of what it started.

with. Yes, so that was. in May I was between jobs and so David. is actually the one who manages my. savings for me. We have a little. relationship contract about that so if. we break up we're. we have a piece of paper that we both. signed and someone witnessed. That's good. Yeah. But. essentially he was like, you know, since. you're you know, between jobs right now, let's do this to just make sure you can. cover all the minimum monthly things and. he has a fully um.

his emergency fund is fully funded and. so this was my emergency fund and so he. was like, well, you're the one who's. between jobs right now so. Why was money taken out? For um. the. for paying for everything cards, everything. Okay, so we're taking from savings to. pay for things so your paychecks not. cutting it at all? Well, that was when I. was between jobs so I didn't have the. paycheck. Oh, I understand. When did. that job end and when did the new job. start? So the new job started on May.

19th. and then the old job ended um. whatever the Friday or um. Thursday before that was. I. did. So why do we have to take out 2000. though if you're only a few days in. between? And then before that job I. um I was unemployed for it was. it was a weird. like I know a lot of things are weird.

situations and weird months but. um. I had my nice good paying job that I'd. had for quite some time. and I I was let go from there in. oh goodness is that. February March. March I would in March and then I. applied everywhere to just get back into. it and I took a job that paid a lot less. and was a lot more time. And you had to drain from your savings.

to subsidize? Yeah. And How long were you doing that. job? I was there for a month and like a week. and a half and then. as soon as I got an opportunity. elsewhere I took it. Okay, so this is what is the savings at. today? Today it is at. 2200. That doesn't make sense. You got your. better paying job but the savings is. even lower than it was at this point. Why have we not refilled.

or started to refill? Um we. I'm confused. 2200 is lower than 2300. You. That is right. I will can I text David to double check. what it actually is right now? Sure. Yes, cuz he is. What was the savings at the peak before. we had to start draining it from it? At. the peak it was at 6000. Okay. So depending on what the number this is. on the right track will be answered. Cuz.

if we're not refilling then on the right. track is no. Like okay, if you have to subs We're at. 24. 100 so Okay, so it's. $17 higher than it was at this point. Yes, but going up. No, I can't give credit for that. No, if. come on. If we were in the new job for a. month now, you have received a paycheck. that should have immediately started to. started to go, maybe not the full 2000. that you took out, but should have.

started to go towards rebuilding what we. had to take away. Yes. If you got to take away from an. emergency fund to subsidize yourself. then all those taquitos and going out to. eats and the $700 of BS should be $700. added towards savings. You're right. Okay, so why did you not do that? This is going to sound like an excuse. but I like I'm just going to be honest. with you. I was really struggling. with a. wonderful amount of depression due to.

having lost a job that I really cared. about and. taking one that. did not treat me well and so those. little, you know, going inside and just. getting, you know, something. Do you get pop all the time? No. No, I don't I do tea. Okay. And I typically go for sugar free. Sometimes I'll add like a little bit of. the sweetened stuff. Well, I do have to. mention I mean just. I'm saying this as an overweight person. who has lost 5 lbs recently. Congratulations. Thank you.

I mean a lot of these things that we're. seeing in the BS spending are not. necessarily healthy. You're right. I would say about $700 of unhealthiness. and of course I mean we we do know from. different I'm not even close to a mental. health expert, not even close. Big. proponent, not even close to an expert. but from everything that I learned as. I've dealt with myself when it comes to. increasing anxiety, when it comes to. increased depression and stuff like. that, you know, a lot of the dietary. issues and a lot of the overall physical. health can also play a big part into it.

and if we're not in a physically healthy. place. are we really benefiting ourselves if. we're doing $700 on BS that's also BS. for ourselves? No, not at all. Okay. Have you thought about your. personal health on this side of stuff? Yes, I have. It's something I've. actively been trying to work on for a. few years now. When the pandemic started I just gained. a lot of weight and It's difficult, I. understand it. Trust me, I understand. it. And um. it's. I have. an extra challenge to that as well. Um.

I was diagnosed with a mental disorder. called dissociative identity disorder. Um. Some people will mistakenly refer to it. as multiple personality disorder but. it's that's Educate us on it cuz I I'm. not as good as I am. So it's not a. personality disorder, it's a. dissociative disorder. So the current understanding of why. people have it is. when someone. faces a lot of childhood trauma,

sometimes even called chronic childhood. trauma, they to protect themselves they will. dissociate as a child and so in their. young adolescent and adolescent years. instead of forming a singular. personality. and being one person, those dissociated. dissociated states. each become their own person and so. essentially. there are multiple people in my head. with me. And that's impacted your.

physical health a lot as well? Um yes. because. like. one or two of us might be like, yes, in. the morning let's set our alarm, let's. get up before the sun rises and let's go. for a run and then someone else in the. brain will be like. no, I don't want to do that. And it can. be. it can be really difficult to manage. the. wants and needs of multiple people. Is therapy helping? It does. It does. I've gotten into a much better place.

than I was before. I used to genuinely. be scared of it and now I'm. you know, if I think about it too long, it does feel like like I could very. easily go into an existential crisis. thinking about how I don't have full. autonomy over my own mind, thoughts, feelings, and expressions, but it's very easy for me to be like but. I'm. not that I'm okay with it, but like I've.

accepted it and I've come to terms with. it and now I have much clearer channels. of communication with the other people. in my brain and we have you know, we're. still working on things. I'd be lying if. I said that I have it all under control. and we're every day we're doing better, but like we have things in place to. you know, succeed as a team. And so, you. know, it there's some things that kind of suck. about it because it.

part of it is sometimes I have amnesia. gaps, which essentially. if I'm not the one here talking to you. and someone else is. then I might not remember that. Well, I. don't know how to. deal with that. That's going to be. something obviously you and your. therapist continue to work on. I can lay. out financial ways to get there and then. you need to work with your therapist to. then determine what's the best way for. you to then deal with that. But either. way, one reason I'm just scared of the.

savings not going up is cuz this is not. a good time in general, but then number. two, you are getting on a mortgage. without even close to a fully funded. emergency fund, which is something we. never do. Yes. Never. Very risky. Can I say something that. might make you feel better? Um so, our lease at our apartment here. in Austin is up in a few weeks and. instead of moving into another apartment. or renewing the lease at an increased. rate, we are actually moving in with. David's parents for a few months while.

the house is being built. And and so. instead of. paying rent, I'm going to pay him the. amount I would pay for rent and he's. going to put that right into my savings. Okay, gotcha. Are these two Fidelity's. the same or different? Let me see. Cuz they have incredibly similar values. One of these is in regards I think. this one. is. I am so sorry. These are both. ones that David manages and I know one.

of them is related to the house and is. our savings for the house. Oh, well I can determine Okay. Okay, so. this is a savings fund and it's both of. you it's not yours. Yes. Okay, so that's. the one that was in like. like cash government money. Yes. Correct. He he runs it, but it's the. money we both put into for the house. Okay. Yeah, that'd be this one. So then. the other $20,000, what is that? What is the other one then?

I believe. So $20,000 for the house, okay, cool. Yes. And What's the other $20,000 for? Um Like is it a Roth IRA? Is it your I. believe it is I'm trying to remember if. it's a Roth or 401k. Does it contribute. from your work? Yes. So it's a 401k it could be Roth or. traditional. Okay. Uh I would recommend. Roth if they offer that. I see. Well, this one. Nothing to indicate either. This one actually we set up um.

outside of work um since I lost my job. and was between jobs so we It was a. rollover? Yeah. Oh, you have $20,000 in that. Okay. And again I apologize for not knowing. everything. Then we have. something. that's $5,000. Just some Fidelity stuff. What is it? It is under your name this. one. This one is let me see. This is.

guideline. This is my investment. portfolio from my old job. They So you. have $25,000 in that. Yes. Is this going. to be your budget or both your budget? This is my budget for my half of things. This is the budget The mortgage is going. to be 1400. Yes. We're also getting 8,000 from his. mom who is our realtor so she's giving. us her commission towards things. Yeah. What are you going to put that towards. though? The house. Just the principal? I believe so. Okay,

sure. Yeah. That's cool. Yeah. Your monthly expenses. So okay, here's. what we have. Mortgage 1400, phone 53, electricity 120, car insurance $240, yeah. Therapy 300, good. Things for your. cat 30. Food and groceries 230 your portion, okay, I would have cut that down a. little since you're both putting it down. the middle, but I'll deal with that. $60. for gas, prescriptions 120.

That's a pretty expensive for. Yep. Well, I got it always depends on. the prescription. There's some people. out there that are like I wish I was. only paying. My old prescriptions were like $600. before insurance. I'll support that. Spotify won't necessarily support. So. just you can listen to any song on. YouTube Premium anyway with that just. closed. You don't need Spotify. We both share it and. I I run it in the background while I'm. working. 11 hours Google Drive. Yeah, work and everything.

other work things. Some work things that. add up to about Okay, the Start Playing. thing you don't need to have 80 bucks. It I like feeling like the hero. D&D 10 bucks you don't need. The Gyazo. That's the work software that they. That's $4. That's fine. Yeah. I like feeling like the hero a few times. a week. Yeah, but that's $2,960. And with. payroll being $2,912. math isn't mathing. Yeah. Which is what. you guys calculated cuz that's what it.

would have been after the taxes that we. had of 3,466. Then he's calculated the extra income of. $250 which does not make sense for what. you were telling me earlier. Oh, so my work it's a small startup. there's only like 20 employees. So right. now they. instead of offering insurance they give. us a $250 medical stipend. Mhm. Um and. so that goes towards medical stuff. So 3,162 bucks giving you a wiggle room. total of $202. But then if you do the other things like.

Notion and Discord Nitro and Dropout TV. which are annual still takes stuff away. from that. Your wiggle room's nothing. So are you on the right track? No. Okay. You are not on the right track. Your. savings has gone down and it is. flatlined once you got your new job. Your retirement 20. $25,000, okay. 26 years old. I think I want to see a little closer to. 50 around there, but I'm also not. devastated by 25. Okay. Not by any means. With your job. and income I would have rather seen.

about 50. But I understand the. situations have been in flux. The budget's out of control it doesn't. make sense. You have to cut the the D&D. stuff for now, the Start Playing stuff. I mean because student loans are about. to start up and that's about to pop in. here. You put 80 bucks? No, it's not. going to be 80 bucks. Unless you're on. like an income based repayment which. would be terrible. I used to be. Should. I not be? Maybe that's what it is. Well, the. income based repayment thing. essentially just makes your. minimum payment so small that interest.

is just accruing forever and ever and. ever. Yes, it makes the minimum monthly. payments affordable, but the student. loans is continue to balloon forever. You want to do the traditional 10-year. repayment. Okay. And then $200 goes to savings. Yep. So that's bills. But that doesn't make. sense because even that especially if he. is a fan of the channel 200 so To be. fair I just showed it to him like 2. weeks ago. Okay, but even still 50 30 20. minimum $632 should be going to savings. Okay.

$200 we're well below that. Okay. Well. below that. So no, we got to clean. things up here. Food I would cut your. food to about 150 for your half. If he. wants to provide more he can, but just. you just need to start cutting things. Okay. Cool cats 30 bucks that's okay. Therapy absolutely. Car insurance not. much we can do about that and then you. can shop around for better rates. eventually, but We did. Okay, well yeah. Mortgage. sketchy situation that you've locked. yourself into.

It's that damn interest rate. Yeah, that's what's getting you right now. Uh Spotify. He can pay for it if he wants to, but. you're done with it. Okay. I mean just. cut everything you can and we're cutting. the $80 Start Playing. Even that still. it's the the mortgage is Actually 1,000. more. All right y'all, we got to talk about. something important. Data brokers are. making a fortune selling your private. data out and it goes to robocallers and. scammers and other people who want to. know more about you like where you live.

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of your post-tax. Post-tax needs should. max out at 50%. Okay, so this is too. much. I think those little side hustles is you. do we're going to start ramping up a. little more. Try as much as you can. or you try to find yourself a better job. with the experience you have. Okay. Because. you don't make a income especially. compared to a lot of places in the. United States, this is with where your. expenses are at with the mortgage that. you've locked yourself into. It doesn't. make sense right now. Eventually, once.

the marriage is happening, we're doing a. combined pile anyway. So, all your money. goes to a pile, all his money goes into. a pile, and the expenses come out of. there and we 50 30 20 based on that. Yes. For where this is now, no. You know, this is actually a struggle spot cuz. when those student loans start in at. what they should be of about. $175 a month, so. things are gone here. You just don't. have money. She just don't have money. And we need to start investing more. What's your contribution of your 401k at. the new place? Um so,

they there's not like an automatic one. It's a startup. Um so, it's. what I send to David. He'll Damn it. So, that's what's already in there. Okay. Yeah. Because six that $650 or whatever it was. is what you should be investing on a. minimum monthly basis. That's the number. we should always try to hit first and. foremost. And then you can do your. needs, and then whatever's left is your. wants. 50 30 20 is just like a baseline. if someone's looking at getting started. Okay. But you're not even close to hitting.

what's. like the most important here and that's. you saving for your future. You're not. going to be able to retire. You're I'm. glad your savings are where they are. now, but with the new income situation. and the new mortgage signing up and if. it's just your split down the middle, I don't see you retiring. Okay. This is not going to happen. It's very scary because even that $200 a. month, if that's if if that which this. last month wasn't even being put towards. savings, $200 a month, that's going to. take forever just to get you to a.

for or just to get you to an emergency. fund that I feel comfortable with that. you should feel comfortable with. It's. going to take a few years. With this mortgage payment and these. expenses, 2,900. Let's call it 2,000. 2,600 to exclude the savings and stuff. like that. Times that by six, we'd want. like 16,000 bucks saved up. You have. 2,000. It's 14,000. Divide that by 200. It's going to take. you 70 months. It's ridiculous. It's. going to take you 6 years just to get to.

that. And then you can start, you know, what's. your car situation? What car do you. have? Oh, we um so, we did lease a car, but we're planning on buying it out um. at the end of the lease. We have. have to pay anything towards that? Um I. pay for the insurance. David does did. the car payment. Um and so, we. um we got a. 2021. Nissan Sentra. Okay. So, I'm not. terrified about that. It gets great gas.

mileage. I love gas mileage. Okay. So, yeah. Uh. for your situation, are you in the right. track? Like you're better than a lot of. people. You've come a long way. You're. in a much better place than you've been. So, we can celebrate that. But we do we. do we there's some important things we. have to clean up. Your expenses. You got yourself into more too expensive. of a mortgage by 14% cuz it should never. be 30% of your income, which in some. places is impossible. Dallas, it's not.

Especially in the far suburbs. But. either way, yeah. I don't know. I'm nervous about retirement. I'm. nervous about if something bad happens. and you're on your own cuz you don't. really have an emergency fund. I'm. There's There's things There's risk. levels that I'm not willing to tolerate. and you shouldn't either. So, cut back. on everything. Get a fully funded. emergency fund. It's an emergency that. you do not have an emergency fund. And. we know that because we've seen what. situations other people have been in on. this show where things have happened and. they did not have an emergency fund and. they ended in a much worse position than. they were previously. Yes. So,

yeah. You're saving up that 16,000 bucks. quick as possible. And you got to cut. other things back and you got to do a. minimum 20% of your post-tax Okay. towards retirement. Okay. Yeah. That's. That's That's what I would do. You just. got to start cutting some things back. Once the full pile is there from the. total income from the marriage, then we. can have conversations about what the. money looks like then for both of you. all combined, but separate, it's definitely worrisome. Any final thoughts?

Want to come to the wedding? Um. I mean, um is this to. about my situation? Any final thoughts on that? Okay. Um. well, I guess to the audience, uh don't. give up on yourself. It Make those. sacrifices. Get out of the hole. It's a. lot less stressful. um being on the other side of things. Um. and check your credit report. You got to do that. Got to do that. Um. and then yeah, no. You can also lock.

your credit. Yes. Um I had to unlock it. for the mortgage stuff, but most of the. time, yeah. Locked down like a fortress. Yeah. But. yeah, this is. this is doable. This is doable. I can do it. For Tilly, they've obviously come a really long way. and have come from a very hard. background, but now they are in a much. better place. There's still some things. to clean up, but I see a successful. future if they're willing to cut back on. the spending now and try to increase.

their income either through side hustles. or a better job down the road. For now, hammer financial score, spending within. a budget, well, we don't have a fully. funded emergency fund, so we shouldn't. be spending this stuff anyway, but even. with the spending with the income, I'm. going to give it a four out of 10. Debt, going to give a five out of 10. If it. was just the student loans, then I'd be. like, okay, it could be a little better. than that cuz they're not the worst at. all, but the mortgage getting in the. mortgage that takes up such a high. percentage of that post-tax income, I. have to give a five out of 10. Retirement, I am relatively happy with.

where we are. It should be a little. better with that income. It's going to. be seven out of 10. Emergency fund, three out of 10 because it was drained. to about 2,000 2,500 and then it just. hasn't gone up. Can't be much better. than that. Then real estate, happy we. got into real estate, so we're actually. going to get a score here of three out. of 10, but it's so low because it's so. expensive for the income until that pool. of money is combined. So, feel free to. check out all the resources in the. description below. I should have said. the full score. The full score is a four. and a half out of 10. Check out all the.

resources in the description below. Things like high-yield savings accounts, cards to build your debit or debit cards. to help build your credit, and free $5. when you sign up for Acorns and stuff. Lots of things down there. Don't forget. to follow my Instagram and Twitter. Thanks.