Moving To The US And Taking Out EVERY Credit Card Possible | Financial Audit

hi this is rabob and I'm 28. hi this is. Salman and I'm 31 years old we live in. Round Rock Texas. and this is financial audit beautiful. thank you guys for being here I will. just start left to right what do you do. for a living right now so right now I'm. studying for my exams I'm a medical. student oh yeah I graduated from. Pakistan and I'm a doctor there so I. completed my mbbs degree and then I did. an internship here over there and then I.

moved here and now I'm preparing for my. exams okay so planning to be a doctor. here is it exams to get into medical. school or exams no to get into residency. to get into residency okay because. you've completed medical school in. Pakistan okay very cool so that's. exciting because in Residence so at. least you don't have to pay any. residency you get paid a little bit. nothing crazy. where it was at all paid for in Pakistan. uh the med school yeah yeah my back paid. for it no that's that's great like uh. parents can do what they want to do.

that's that's awesome I don't have any. loans we're not bringing in student. loans and what do you do right now uh. I'm in Tech and I'm a product manager a. technical product manager well I wasn't. technical but product manager was my. most recently talk to you about that. yeah so that's what I do. um very cool now technical product. manager usually make a little bit more. money what do you make right now. um net would be 9 000 plus 9 000 bucks a. month yeah like 9200 9 300 a month net. cool now this that's the household.

income for now that is yeah that comes. to not obviously a little more will be. coming in soon and then a lot more. eventually yeah. um that's the plan how do we feel 92 000. or nine thousand two hundred dollars I'm. sure 92 would be nice nine thousand two. hundred dollars in a round rock how are. we feeling off that uh on a monthly. basis as a net I mean that's obviously. far higher than a median income so yeah. yeah as long as things are budgeted it. should be more than enough for anybody.

more than enough yet we went into credit. card debt anyway so I was like yeah we. can talk a little bit about that okay. so just keep in mind I wasn't making. that much throughout my life right this. is more recent oh okay well how long. have you been in this position uh this. position I started about six months ago. it's not been that long what are you. doing before that uh before that I was a. VP but I wasn't making as much as this. it was a startup yeah that makes sense. so more of like a potential equity. yeah so I was there for four years I was.

still making six figures. um well the company during when they. cannot when the economy basically went. down yeah so they had to lay off a few. people and me being one of the highest. earners oh but even though you're in a. very high position though that's that's. when you the tallest blade of grass gets. cut first huh that's a good thing yeah. okay so. even throughout the I mean you're still. making six figures so we're making money. uh before the episode we were talking. about how you're newer to the area where.

did you guys come from before this we. were in Houston Houston oh okay so not. too far so okay okay pretty similar so. good good and when did you guys come to. the United States. well I moved here I did my University. from U of H okay. um so in 09 is when I moved here we go. for me it's been two years wow yeah okay. how did you guys meet not I'm just very. curious we never even talk about that. but I'm very curious I knew this was. gonna come up so. um I mean we were introduced to our.

through our families extended families. essentially so we had an aunt in common. so she referred the two of us and I was. visiting the states. fortunately and then we just met way and. it just clicked I already moved you guys. from each other. how what you both have the same hand no. no no no no I heard that completely. wrong no no no no no okay that ant is. his mother's friend okay am I actually.

completely different and my actual. friend. okay completely different we didn't even. know each other we're not even remotely. related or anything okay okay okay oh. cool very cool that's awesome. so I was in Chicago. children. yeah yeah I love Chicago too yeah it was. great hey hate the winters up there but. I'm you know I used to go to Chicago all. the time it's pretty it's it's a. beautiful city so if anyone has any.

connections out there let me know cause. hinge Premium Plus extreme is not. working out for me did you guys buy a. house on Round Rock are we running. foreign. two beds too bad for your income yeah. I think for Round Rock you get a pretty. nice we looked at uh looked at a lot of. places yes 15 different places like two. days straight like yeah and there were. like 30 places per day something like.

that yeah I respect that yeah this place. is good this place is really good it has. everything we wanted yeah yeah so we. went into the debts yeah we just wait. well did we go into the Nets or did. someone and then we brought it into the. marriage and to confirm you guys are. married yeah oh yeah very cool yeah yeah. so. how do you feel about that very curious. it brings in thousands of dollars of. credit card debt how are we feeling the. debt yeah because it wasn't yours that. you took out so it was bringing into the.

marriage now it's ours yeah I mean yeah. I mean I mean we don't have that many. expenses so we're just trying to pay off. the debts for now yeah well how do you. feel about it though because all of a. sudden you know I mean it's not ideal. it's not ideal but it's something we. have to deal with it good I like that I. respect that so why so I did not have. any debts oh okay so when he married. everyone is born with no debt yeah yeah. when I married her I didn't uh wait how. long have you guys been married two two.

years okay so that's when you came here. yeah yeah so a lot of the I mean no not. two years it was like we have been. married for one and a half years this is. a lot of depth up in just a year and a. half so thank you a little background. I'm not the reason just by the way I. know that's why yeah. so the reason is essentially. before before everything the reason why. I did not have any debts is. I had a lot of my net worth was really. high I'm pretty big into Investments and.

whatnot and I had a lot of Investments. around 270k worth of Investments so far. higher than the network and at that. point I used to just basically put. things on the credit card and then I. eventually would pay off the credit card. yeah I had enough money. um. then when I basically was laid off from. a position. then instead of selling all of my assets. because I was thinking about the tax. implications. um I started to just use credit cards. thinking that hey a month from now I'll.

have a job or two months from now I have. a job and it took uh it took a little. while before I actually found one oh. and uh once again my net worth being. 270k. the economy started going down wait one. this is uh just last year or two years. ago sure but it's on the S P 500 is. almost recovered but by now I had. already sold off a lot of them so that's. what I was curious about so you sold on. the way down way down yeah because at. that point I needed the money you needed.

the money so I I get that but I had to. do whatever oh you played the game and. you know what the crazy part is back in. uh March of 2020 when the market was. actually going down this is before our. marriage. I was on my flight to for for work and. at the gate I realized you know the. market is going to go down soon so I. sold 50 of all of my equities I stayed. in cash. and then as soon as the market went down. and it started to go down started buying. back so back then I had like maybe 150k.

then because of that like once the. market is going down and I'm buying more. that's how it goes up to like 270k my. goal was after I hit half a mil. I'll take quarter million from that buy. a rental property and cash yeah keep the. other quarter million. as is like. put into S P 500 keep it in some of it. doesn't sell it off anyway so and then. yeah I was not looking after like I was.

not thinking about I would lose a job. right so once once we got married that's. when my company told me like hey they. have to like let me go. and by then I heard a lot of wedding. expenses. you go unemployed uh. about a year did you collect. unemployment no you paid taxes into it. though I did not collect see the thing. is I was then doing Contracting work on. the side yeah I was not really getting. paid a whole lot for it. um so I could not collect unemployment.

because of that oh I see yeah Okay the. reason is I for me what was more. important was having a good employment. history. right yeah and I don't represent anyone. doing it but I mean you could just say. yeah you had it yeah the only thing is. when they're doing don't do that yeah. but when they do background checks which. they did for me they had to call up my. prior employers so thankfully because I. was contracted so it was okay it went. fine but had I not done that it was it. was going to be really hard for me to. find a job especially in the tech world.

with so many people being laid off yeah. that was a hard time yeah and it hasn't. it fully recovered it hasn't fully. recovered and those people are far more. competitive like they're very. competitive if you looked at Google. Microsoft you don't care about a guy. like me right okay yeah uh well it's. only one under credit card debt so we. went into credit card debt yeah lovely. now we have a Chase Sapphire card yep to. kick things off with the girls Sapphire. card so do you feel any of um I'm.

curious do you feel like any of your. desires and goals and stuff that you. expect in your life have been put on. hold because in the marriage situation. all of a sudden that came into it and. you're we're having to use more of our. time in money. to pay it off instead of meeting. whatever goals you plan for. I mean no as long as like we have our. own place we have food we go out on. weekends everything is under budget I. don't feel it that much because I feel.

that recovering the debts is more. important right now and securing our. future yeah I made a smart woman you did. I was just gonna say that I like you. guys I don't care about bags or clothes. that much yeah so I'm just focused on. studying and building my own career. right now yeah so that's why these. things don't matter yeah we're not very. brand conscious people we're not I I. barely ever wear Brands okay very cool. well awesome.

981 on this card that we still have to. pay oh yep. so with a minimum monthly payment of. 247 years that's a lot yeah it is. interest lost 147 but we didn't. no we didn't there's 36 000 purchases. why are we yeah see dude Wall Street. Journal something and yeah finder more. Wall Street Journal so that was. purchasing on a card yes so that's a. good point I've actually already. canceled truthfinder uh is that true.

true finder was for me to do background. checks on people whatever when you get. like uh spam calls from yeah oh yeah. yeah. so to be able to do that. um as Wall Street Journal is the. newspaper what's your journey I know but. why are we putting it on a cart that's. just a cruel idea why would you do it so. now I've switched that over to another. card okay another card though but you're. not you're not a credit card person I. what no don't roll your eye you're not a. critical person you've demonstrated you.

went into the credit card debt we're. losing 147 and 46 cents of Interest. we're putting money on a card that we're. not fully paying off we are not a credit. card person there's nothing to suggest. you're potentially a credit card person. even when you thought you were a credit. card person you were putting everything. on credit cards and then you had sell. your Investments bringing your net worth. down to zero if not negative in order to. just pay off the credit cards that you. already accrued you are not a credit. card person at all yeah well I would. like to be so I'd like everyone to be. but you're not and that's okay the. average person isn't so we're not a. credit card person yeah.

I care more about your financial future. than if you're a credit card person I. would much rather you guys be lovely. nice wealthy living forever than getting. a couple points here and there a couple. points here and there for the small. minority who are able to finesse the. system you try to finesse the system. stop you did too much risk your risk. profile and tolerance for it was off the. chart compared to someone who should be. a credit card person so. well yeah I guess that is true oh dude. yeah American Express that is which.

you. yeah this is like your life will you put. your whole life on this card so most of. these actually came from me traveling. back and forth to Chicago I looked at. the transactions and I was spending. about three thousand dollars a month on. it New Balance yeah 31 449 but what is. just as disgusting if not more minimum. monthly payment of a thousand sixty.

dollars so there's more there's like 15. of what hits your account on a monthly. basis is immediately gone stolen. destroyed burned to make up I am fully. aware of that I hate it so okay we're. fully aware of it I have already spoken. to American Express yeah they have. basically lowered down my interest rates. so they they're working on a payment. plan so it's like nine percent now. that's still terrible so terrible like. if we do stock market average if we're. comparing to Investments that's like. eight percent it's horrible uh but it's.

no longer the 30 percent because I was. paying about 650 a month on interest oh. which is insane which is basically a car. yeah 644 so what's it now uh now what. they've done is they've basically taken. the 31 000 and divided it by. 40 months they've given me a four-year. plan basically. a four-year plan and then right now my. monthly minimum is 790 right now 209 is. still going to interest which is still. yeah just bomb it yeah it is so I have.

to figure see this is the reason why I. was here is so then we can discuss after. we have gone through what all these. debts are I already have a debt payoff. plan on my own that I've built sure and. I wanted to discuss like. I'm very very you have far more. knowledge or experience I'm very curious. to see it I'm actually quite excited to. see it and I hope I'm not disappointed. when I see it no you shouldn't just so. you know I've already paid off four. different cards already very good very. good yeah you just lived way too high.

risk profile out of this planet I was a. single guy making a lot of money didn't. really care about anything. I have and now we're married our kids in. the picture yeah when she yeah I mean. yeah but it's like relatively desired. yes oh yeah for sure okay. uh do you have anything in Investments. do you have anything in Investments how. much about 50k okay so my net worth. right now is still positive yeah barely. barely like by a thousand dollars yeah. so 50k for the household.

you want to be set up for retirement. yeah for your kids sake just for sake. your kid or kids you want to be able to. send them to college if you want if you. want and if they want and all whatever. if the Stars online right now we're not. in the position if we're just in this. credit card mess nope. so now we have a Best Buy Best Buy yeah. he loves Best Buy I love this oh Best. Buy too but why are we why do we have 3. 8 19 Best Buy card so this Best Buy card.

once I once we moved around Rock I. basically made a whole bunch of. purchases for so this is. I mean. no this is I had like a thousand dollars. on there and then I bought like two. thousand dollars. since the pictures on here why are you. purchasing 2000 dollars you already make. money just go buy it yeah what are you. doing. you were okay with this I didn't know. this you didn't know it so you didn't. discuss it we not sit down talk about. money I I got the Best Buy party yeah.

yeah the reason what is that your. special card it's. um no what do you mean by special card. you said like we talked about Finance. but not his Best Buy cards yeah because. I just went ahead and bought smart burps. white bulbs yeah like two dollars we. have Smart bulbs dude I love it and I'm. all about that you have tens and tens. and tens of thousands of dollars in. credit card debt a thousand dollar. minimum to payment there are 227 minimum.

three payment there 123 minimum the. payment here losing thousands of dollars. in interest and we decide smart bulbs. are more important. yeah at that point I did not think about. it this is before I started watching. your show for me I was like hey I'm. making enough money who cares like I'll. pay it off sooner or later well do you. care now oh hell yeah good that's that's. yeah I'm here is because see I became. what we are usually fed when we look at. social media and Tick Tock and I'm.

guilty of that is that hey the American. life is like live on debts just make. your own monthly payments and pay for. your mortgage pay for your car payments. and that's just the American way and I I. got really sucked into that I was like. okay I'm making enough money I can. easily pay 200 a month here and there. and you've seen what happens making. money doesn't always oh it does not. sustain yeah the biggest thing is is. that. I did not account for losing I I had a. job for four years I was making good.

money like I had no reason to believe it. would ever go away. and and plus my investments my net worth. is really high so even if I am in let's. just say 50k that which I was at that. point. I have 270k. 50k in debt my net worth is still 220. yeah I mean you could just I would just. like which is what I did before I got. married I was like okay I sat down with. my younger brothers and I said okay how. many Tesla shares to sell how many Apple. shares to sell and I paid off all my. debts. um.

and just so you know I also had savings. I had like 12 000 in savings two months. worth of savings at that point but. you're living with six thousand dollars. to survive I'm gonna take a brief moment. to thank today's episode sponsor. sondermind you know I'm a big proponent. of mental health and I'm very open about. my own mental health struggles on the. show so that's why I'm very excited to. have them as a continuing sponsor on. this series when it comes to personal. finances a lot of it really stems down. to mental health and even if you don't. have mental health struggles that are.

ongoing when you have a lot of bad debt. a lot of financial stresses it can. really weigh down on you and that's. where sondermine is here to help they're. a mental health care app that is all. about getting the right personalized. support to help you along your mental. health journey and feeling better it can. be confusing starting therapy and seeing. where do I start and that's where they. step in they know the impact of the. right care with the right person at the. right time so they make finding a. therapist easy just go to sondermind.com. answer a few questions about yourself.

and let sondermine find the right person. for you after 24 to 48 hours you can be. talking to a therapist to actually it. gets you and luckily they also accept a. wide variety of health insurance plans. and if you prefer face-to-face they have. therapists near you who can meet with. you in person they want to prioritize. comfort in guiding you along the way so. go to care.sundermind.com forward slash. Caleb or check out the link at the top. of the description below to get started. today thanks again to Sounder mind for. supporting this episode. it's expensive yeah because what do we.

have in savings right now not your. retirement uh I have recently started. saving again so I have like two thousand. dollars in savings which is not a lot. um but that does not include the. retirements or no it doesn't but I'm I'm. looking for an emergency fund and this. is 683. this year so far yeah so you. used to own Apple stock but now we're. just deciding to be in debt yeah. so we went from owning Equity to debt I. I still own equity in it somewhat but. not as much as the.

maybe I should use apple. my Apple stocks to pay off the Apple. card right that'd be uh that were new. iPhones in an excite me personally no it. didn't accept me either well there we go. yeah I already have like I'm a big Tech. Guy same big Tech Guy like I love. technology I'm about Smart Homes too man. yeah well like my the actual place that. I live in all smart home that's great. like I like that two bulbs everywhere. I'm all about the life I went with the.

GE because they're cheaper than you yeah. yeah even in this place I have like two. Google speakers in each room I have uh. yeah same we have a speaker in like. every we have the Hub Max in the living. room the Hub in the bedroom yeah it's. all those little things yeah. so we own 2422 you say that the Apple. stock you own is less than that probably. more than that oh more than two thousand. and just so you know these are these are. older because I've been paying extra.

I I paid. about a hundred dollars a week on their. uh on this card so I want to pay off. this card by the end of this month and. then I want to pay off the Best Buy card. by the end of the next we'll talk about. your plan and no let's just get through. the debts and yeah I do see we're making. 75 payment there are 75 next week and 75. in it sounds like you ramped it up. recently yeah pretty forty dollars uh. interest I guess. well those are actually though those are. like return the credits or returns uh 59. yeah I have tax payments for the.

for my iPhone and then for her Apple. watch and stuff like that yeah and you. lost 60 of Interest yeah so I I mean I. wouldn't I wouldn't Finance if we're. losing 27.24 but it was zero percent. interest to finance it these these just. came on like when I was when I started. using the card for other things than. just financing once again when I lost. I'd never use the card for anything else. but without a job I just started maxing. out my cards you have student loans yeah.

I do is this it this is it so not too. much no yeah and the reason why I've. never paid them off is because credit. history I just wanted them to be on my. profile but now I'm thinking I should. pay off the two thousand dollar one why. is that uh so. because I don't want to pay interest on. that but it's 4.4 yeah it is the stock. market averages so this would be the. last the last thing I would want to pay. off. yeah as you can see they're already. subsidized. yes yeah.

and the minimum monthly payment and the. payments I just I got an email saying. that the payments are going to start. next month yes yeah I would have auto. pay setup if you do not already I. already do 115. payment extra more than. the minimum 270 2.3 I wouldn't I would. minimum monthly payment you're a minimum. I would focus all on One debt at a time. in a monthly payment on the other one. sure. just keeps the money focused into the. whatever we're killing and attacking. okay first so the highest ones at four.

point oh they're both at four point four. one percent okay cool now Macy's looks. like this is a card that we paid off. yeah this is already paid off yeah and. just charge 21.70 though that's your new. balance is because the interest so. you've had a balance yeah I already then. paid it off. the twenty one dollars yeah but again. we're not a credit card person if any. interest has been recruited 229 this. year of interest and thirty dollars of. fees. once I lost the job I was like hey I. still need to buy stuff so that's why we.

have a fully funded emergency fund and. not having one is an emergency because. things like that can happen yeah um. we're also paying off the city card. because this is already paid off yep yep. and no new purchases there so no good I. I do make purchases I mean I just. basically made her the authorized user. and guys the checking accounts for you. guys just checking accounts debit cards. that do statement balance and whatever. it is even still man even still I don't. know because you having access to that. weapon because it's not a tool for you. it's a weapon against you okay it's.

scary for what you've done so far even. though even the freedom one that you've. paid off I mean you've lost a dollar of. Interest this year so far yeah losing. even a single dollar interest shows me. you cannot manage having credit cards. okay we have a Bank of America checking. account do we have any other that's no. card that's no nothing like that no no. variable cars paid off uh yeah single. car for the house single car okay is. that okay I have my own like personal. one yeah but single car oh car oh yeah a. single car oh okay because Round Rock is.

incredibly car dependent I think. [Music]. yeah I'm gonna go apply for it yeah so. just a single car and it's paid off. 931 dollars in a checking account I'm. okay with that balance usually like a. thousand it's even more okay good yeah. started with 306 though yeah pretty much. all the money went in all the money out. yeah but let's see once again that was. for last uh that was the last what is up. with venmo guys. so by the way this is I was buying. furniture from Facebook Marketplace yeah.

this is our place yeah so I don't have. any event more debts or nothing and I. don't ever use venmo. but you spent 33.3 percent of your. income on that that's because all the. furniture. or if you're spending on it yeah so. venmo venmo venmo venmo Zella and also. money venmo and Amazon and venmo and. Amazon and Amazon and so on I'm on even. moving move and move venmo Whataburger. venmo venmo venmo venmo Pizza Hut. yeah that's our health health insurance.

oh totally gel okay yeah Hollywood Ranch. and Mickey D's subscription to something. Whataburger Amazon Spotify we don't need. that we can listen to ads right now yeah. Queen's Beauty doing some grooming for. the pups and Amazon over cat what I. would for a cat yeah okay a Parisian a. Persian cat Okay long hair yeah I know I. get that one I was gonna say for the. average and he's kind of aggressive so. you cannot really cut his nails he will.

kill you yeah okay yeah. okay Amazon well we actually I get it. for the I get it for the breed just so. you know we have to sit dating we have. to pay extra money to go to a vet we. have to pay us. then they do his grooming yeah he's very. aggressive because we took him to like. two different groomers and they were. they're like we're not gonna touch him. he's very aggressive oh my gosh yeah. okay Amazon since uh we went to the. stadium in Houston got some concessions. Washington Post more Washington Post.

Yeah I cancel that too I'm a big news. person no I love Finance too but like. let's get out of debt yeah so that's why. I cancel dude yummy Burgers they better. have been yummy promise Pizza scruffies. Mediterranean something yeah busts and. buns okay so Cinemark. come on health Uber in Shadow Creek. Shadow Cree Rhythm self rhythm is my. electric bill. yeah so.

you're doing a credit Builder yeah oh. it's your credit well now it's like 650. something. okay well I mean you certainly pay a fee. for that on that yeah I know I I find it. I'm okay with something like that paying. for to game the system when we're out of. debt we have a fully funded emergency. fund this is not something to me this is. a want we put this in our wants category. you do not have a wants category right. now yeah a firm we done with that are.

there more no there's this is for a. mattress it's still there how long how. much longer it's just a zero interest 12. months. [Music]. yeah for sure. I don't want to pay interest on anything. ever again no you want to be collecting. that interest yeah no it's actually 157. so what I did is I paid 57 and then I. paid 100 like so okay yeah.

man person uh GoPro subscription I don't. need a 50 grow post this is an annual. subscription ah man we don't need it. right now AMC at least go. we're not going to a movie theater right. now anyway yeah yeah incredible Burger. it better have been incredible. guys they were good no we don't eat out. that much that was the only time so we. actually have the only time I went. through quite a few oh so that was my my.

family visiting us so her family was. here that's why I wanted to take her out. and this is once again before I started. seeing your show so I didn't really have. a budget it was like hey yeah but now we. don't eat out yeah is this this is my uh. this is my savings this is basically. automatic savings that's the way I was a. thousand four hundred and savings now. it's 2 000. okay good good good yeah so. this is two thousands and then I have. betterment which has additional like 2. 000 so it's four thousand oh and uh this. one does not have a high yield savings. for the other one then why use this this.

is an automatic like you just did just. automatically put it into like so far. four point five percent yeah so that's. so the other account that I have that's. like four point seven percent manual is. more fun anyway I love transferring so I. I do do that too. I transfer like. that 401k so when you gave me your 50. 000 that included this. and then the rest is an individual. brokerage okay. 6799 total in this and that is okay so.

hey just a quick reminder that we are. giving four of you 250 all you have to. do is fill out the survey near the top. of the description below just trying to. learn what kind of debts and incomes and. everything like that we have in the. audience and then we're going to be. keeping you up to date with exciting. things going on around here you have. until the end of this Friday to fill out. the survey and four people will win 250. bucks yeah it's whatever evenly I don't. know yeah it looks like you're just in a. and this does not so is this a targeted. retirement fund broken down potentially. probably this is a very crappy company I. want to move my I've already allocated.

to move my funds to Fidelity or. something I love Fidelity yeah my. current employer offers me Fidelity 401K. oh so that's what I'm using I would. what's this Chase. um we have 30 000 bucks in here how much. 3 000. that's hers we're not combined no. we're not coming no they're probably not. combined This Is the personal one though. because. um these are not my transactions this is. my family's transaction so it's like a. family account your family account no no. my no this is my personal one but they.

just had some of their money in it and. so these are um so they're from Pakistan. so they're from Pakistan So my aunt here. owed them some money in Pakistani. currency so when they came here she paid. them in um dollars yeah it's so very. complicated but I had. I had a an account here so she put it in. in my account and then they used my. account to pay their things so it's free. this has got nothing to do with it so. that is that your money at all does any.

is any of that yours no no yeah some of. it yeah how much. um so like. okay uh this is not recent so I think I. have like two. 2200 of my own but that's just personal. and you guys combined on everything else. though financially speaking okay oh yeah. so everything goes through me like. everything goes through my account. basically we have a city combined card. this is my own personal the reason why. we do not have a household income and. that's one of the things that I always. wanted to talk about is the joint.

account I mean is because she does not. have an income yeah well she does have. once she does have an income Then I then. yeah then I will have a joint account. and everything goes through there is. budgeted from The Joint when's residency. expected so um just to pass her step one. yeah but like when do you think you'll. be in residency well my like Max couple. years I should be asked okay well when. do you plan to be in residency. start residency a couple years.

uh yeah and then step two and then maybe. step three and along with I have to do. some researches and then rotations. zipper International only or is that no. no everybody has to go but they usually. do it while they're in Middle School yes. yes so that's not the case in Pakistan. hadn't known for sure I was coming here.

I would have already given my that makes. sense okay and this would have been way. quicker but it's taking me to keep those. studies in that's your job that's it. yeah you make enough yeah we're gonna. get out of the yeah Eternal net worth. 783 at least at the time of this yeah a. little higher now but not very much yeah. I mean considering the fact I have so. much debt and I still have a positive. net worth. it's not great. but it's not it could have been worse. it could have been negative that saying.

right there is why I go on on people I I. always say it it's not good but it could. have been worse it's not that bad no. you the interest you're losing on. this stuff is terrible I refuse to. accept this in any other way than death. absolute horrid-ness terribleness that's. why I'm not going out to eat like you. guys and if I were in your situation I'm. not having all those subscriptions I'm. not doing any of that bull that happened. I am not spending I mean it's only one. percent of your money on subscriptions.

but I'm not spending 13 of miscellaneous. uh. food 4.6 yeah you're spending of course. it's not absolutely crazy especially. compared to a lot of people on the show. plus 4.6 of your spending that could be. going towards the debt that's not I've. already carved that down yes I. absolutely would yeah other large. purchases 33 let's take a look we have. some CVS clear me the grooming Animal. Hospital which you know when that. happens it happens. is that that's for this Edition.

10 money Credit Karma you're paying. Credit Karma. am I paying oh I'm actually transferring. into credit card my savings oh gosh I'm. not even accounted for any of those. savings yeah and the venmo out was 2717. bucks that's yeah that's all furniture. 210 of. payments. yeah the thing so for all the venmo I. barely ever use venmo the reason is I.

don't want to go buy furniture and pay. monthly payments for that so we decided. like hey we just go to a Facebook. Marketplace and yeah you want to buy. over stuff from there yeah I would get. used as well did you guys not have any. furniture coming from Houston though no. okay I'm glad you went to used route. yeah that we went with Furniture still. okay. the one who came here for the IVF. oh yes yeah she is a person who referred.

me oh you're the referral I knew there. was a referral happening I did not know. oh that's cool that's cool that's very. cool yeah so you guys are friends no. actually I commented on your YouTube. video and then she was like I actually. commented uh that hey I want to be on. the show as well so she then replied. back saying that hey I was actually on a. show not too long ago I just did my. shoot last week. and uh I was like how do you what's the. process and she's like oh you know it's.

in this description because I first. looked for it in the description it just. didn't make a lot of sense like it was. hard for me to look for it oh and then. she's like no here's the link like this. is where you go and yeah this is the. form that you fill out oh so cool I'm so. glad you guys did and then I got to see. her episode too so yeah yeah that's. pretty cool and that was a great episode. no I love talking to couples so that's. I'm so glad you guys are here and you. know what and after we start again I do. want to also address the. just I think it was two videos ago there. was a wife that was here and she was. like I don't what's the purpose of this.

show oh yes how does it help other. people they came out Monday I think so I. came on Monday so I want to also address. that too because it is very useful had. it not been for other people coming on. the show yeah I would have not created a. budget yeah for sure I would have not. started paying off my debts because I. would I mean again I would thank you for. vocalizing that that's what I try to do. you care if that's in the episode I do. want it to be in the episode oh yeah. we're recording right Brandon yeah and. then we are okay this is a little behind. the scenes but yeah. bathroom little bathroom break but okay.

yeah so yeah so because of that yeah. what I do want to tell people is that if. it wasn't for you if it wasn't for the. show I agree I would still think that. living in debt and paying off monthly. monthly minimum payments is just the. American way yeah and it's because of. this show that I realized like just how. bad my situation is and that's when I. said hey let me get Rocket money. funnily enough I used to use rocker. money was true bill many years ago.

but I never cared for it like I was like. yeah I have a budget so what it was like. but this time I'm pretty strict with it. because I the plans that you lay off for. other people people could be in fifty. thousand dollar debts and you're like. hey you know what in six months you. could be out of it it's like yeah. yeah life changing life-changing stuff. um well thank you so much man I really. appreciate that that's because I hate. the fact that every day I wake up and. some minimum payment has been taken out.

of my account and I have no control over. it yeah you get what I mean absolutely. when you have no debt you don't have to. pay anybody if you have a thousand. dollars in your account it's going to. remain a thousand dollars unless you. spend it but for me it's like oh I wake. up oh where did this 30 dollars go oh it. went today I went to pay that off or. where did my fifty dollars go I went to. pay that off you have no idea how much. that means that means so much that's. what this whole thing is about the fact. that even if this made like a tenth of. the money or even no money the fact that. this is like actually helping people. like you and then you came on the show.

it's incredible it really is some people. sometimes they get a little discouraged. because some people are upset with my. yelling because that's just who I am as. a person but thank you for thank you for. just saying that you're doing a great. reinvigorating you're doing a great job. yeah and uh you should definitely keep. it up thank you I really appreciate that. that's that's very kind of you should we. get into the budget let's get into the. budget yeah so we have your rent what. what do we think all utilities and. internet combined so. I just paid my water bill for like 25 is. my water bill my.

electricity is about 120. so electric. 120 water 20 so a water 25 uh internet. internet is 65. then the rent and then. the rent we have the rent. yeah perfect and that actually includes. the facility fees and the washers. everything else yeah so what do we. allocate to the pan pets for insurance. and food we does not have pet insurance. and I think after after looking at your.

show or yeah I think so we should I've. saved thousands of dollars yeah uh. because what do you guys have a dog okay. so it's a Christian cat version cat well. I know less about cats I love cats just. as much as dogs. I know more about dogs though and. animals are always up to something. they're always getting sick or hurt. somehow you just look away and all of a. sudden they're just on the ground just. like I'm struggling and you gotta like. take them to the yeah yeah. the fact that I have to pay a hundred. dollars just to sedate him for grooming. yeah yeah.

well if I have packages I might might as. well use that so and then we also have. renters insurance yes but I already paid. that I was for the whole year 70 for the. whole year oh okay six so let's do some. pensions we'll call it 30 bucks a month. okay could be a little more could be a. little less depending shop around I use. lemonade I'm not a sponsor but that's. what I use I've had a good experience. um. how much do you think you spend on the. cat's food oh we have not accounted for.

that at all. so you think uh like we usually just get. one bag and one bag so the cat litter. maybe one and a half months yeah so the. cat litter costs about I just bought it. recently yeah it's like 30 for the cat. litter box. one one month a month yeah and then the. food I think was 15. and you do one and. a half a month one and a half yeah he. doesn't eat much he doesn't eat much. yeah so and how often do you need to get. him groomed because once oh once a year.

yeah oh lovely because I would love to. get him groomed twice a year but I don't. know if it's too expensive it's too. expensive we'll get you to the place. where you can yeah so Cat fun 52 bucks a. month 52 bucks a month that's what it. should be. um obviously adjust you know a couple. bucks up a couple bucks down as you need. this is just our uh light outline of a. budget so rent utilities cap okay food. for you both we're not going out to eat. anymore it doesn't exist paid for fun. does not exist unless it is paid for by. someone else or it is free you guys are.

just you're studying and you're working. and you're studying and you're working. yeah so groceries 500 bucks a month yep. that's what we have yeah that is the. budget beautiful toilet paper makeup all. that good stuff everything else you need. to keep the house in order 150 bucks a. month okay. okay yeah basically I put that as a. shopping category in in that and it's a. hundred bucks okay 150 is fine okay. let's keep that car payments we don't. have but uh the car insurance we do have.

one car car insurance would be 50 bucks. a month not bad at all because it's an. old car and it's liability insurance. that's the beauty of having old stuff. right you don't have to worry about it. yes. uh 200 a month phone bills. phone bills is also 100 bucks a month. do you have like some monthly expense. with the studying and all this stuff is. this something that needs okay yeah he's. talking about like for the books he's.

talking about for no I just study on. lines okay and then when things come up. it's like a one-time thing yeah. so we already bought those things. perfect okay so any ongoing medical. prescriptions things we should put in. you don't have to say what they are but. just make sure you put in like an extra. 50 bucks a month so call Medical 50 yeah. and then health insurance that's not. taking pre no that's not take so my.

health insurance is from the company is. really crap so I pay about 400 a month. and you're on that and she's on that. because the employer health insurance. was 1200 a month. if it was just me it's like 200 a month. but if it's you and your spouse then the. jacket up to 1200. okay I got mine from taking care of our. health there's no point that this whole. thing if we're not taking care of our. health so I'm totally chill with that. perfect and I also pay my parents a. thousand dollars a month okay just to.

support them. it's not just me okay and that's a very. common thing for people who come yeah. from overseas see here's the thing when. you talk about this is this is the. critical part and everybody who and I'm. speaking to the camera here but when he. talks about have your retirement set. this is exactly why I had a retirement. set because my parents are actually or. my dad my mom never worked. um my dad financially speaking. phenomenal yeah never had debt in his.

life he bought even brand new cars would. be in cash. um but my Dad's health even though he's. not very old his health and my mom's. health both of them are really poor. that's the reason why I focus on our. health so much and because of that my. dad has been retired for the past five. six years I may ask how old they are my. dad is like uh 58. less than 60. yeah my. mom just turned.

56 or 54. I can't remember but she's in. her mid-50s too yeah. the thing is all of us siblings I have. four brothers each one of us pays a. thousand dollars a month our parents. house is paid off wow so the house is. paid off the cars are paid off but the. four thousand dollars is just property. tax and for them to like live because he. did not save anything. um he had we bought a house. and that was it. um okay so my dad had like a lot of.

savings but his Investments this is bad. luck his Investments uh we used to live. in Dubai. and my dad invested back in 08. [Music]. he bought a whole floor. okay so we're not talking like General. stock market type stuff we're talking. like huge he bought real estate he. bought a whole floor and apartment. complex like the largest uh building and. the economy collapsed and he he never. took a loan for it he just uses life. savings.

um even in Dubai so did he get rid of it. before it recovered no I mean so this is. what happened uh because even though. it's Dubai and it's now far better yeah. but the person who is building the. project the company the guy ran away oh. so the guy ran away when the economy. collapsed so he took all the investors. money and then ran to a different. country where he could not be found so. even though my parents sued him or my. dad sued him and there was a class. action suit. you could never find the guy so good.

luck like taking the money yeah so how. do we agree upon each of the four. brothers given a thousand how did this. come about so my mom basically said like. hey look you guys not living with us and. we need like you know my dad can't work. and no one's gonna allow their parents. to just die on the streets um that's why. we're getting new to a better position. so the kids you guys do have apps you. never have to even oh yeah absolutely. that's the plan that's what I thought I. was like hey we need to have like two to. three million dollars in our retirement.

funds and we want to live off of 90k per. year of that two or three million and we. don't have a college fund for our kids. and I want to be in a position where the. day of my children are born or what kids. are born. twenty thousand dollars into the college. fund day one yeah and then put. additional like a thousand dollars a. month or 500 a month but you're starting. with 20K so this should have like 150 to. 200k by the time they're 18 and they go. to school. but now why did I start thinking this.

thanks to you well thank you right I was. like okay I see I know how to make money. yeah okay I have figured out like. options and this and that and I've had. enough net worth the problem was I just. did not know how to save money yeah and. the reason is because my dad was a big. saver and not a big investor. gotcha so I saw my dad like. we could have lived a super lavish life. but because he was always like nope I'm. gonna pay for him cash so we couldn't.

like go beyond our means because he. never leveraged anything well you guys. are clearly very talented people I mean. going through medical school and then. eventually getting into residency that's. like a huge fee it's like one of the you. know the hardest things you can do. educational wise then you're gonna be a. doctor serving people which is awesome. and you've been very successful in the. tech world and you've grown a good. Investment Portfolio at one point that's. gone but you guys are both clearly. impressive so it's make sure we can keep. it yeah and that's all I can set you.

guys up for Success so is there anything. else in our monthly budget that we need. to have did you add the thousand dollars. for that yes I did and then I also give. her 200 a month as pocket money. do you need this I mean for now yeah for. why. um for personal grooming and I basically. say hey I still pay for everything like. here's 200 for you stuff like um like if. I have to buy assessments when I'm like. studying. yeah yeah so from time they're not fixed. or anything but like um from.

it's nothing like it doesn't need to be. 200 a month. no how much name a number okay I don't. know it depends name a number average. month some months might be higher some. months might be lower and give us an. average month. I don't know I'm just you want to do a. hundred. uh let's do 150. we'll see we'll see. this is despite me paying for everything. we'll see where things land uh after. that yeah I'm thrilled about that.

because the school stuff totally okay so. I don't exactly spend all of that that's. also my way of also saving while also. doing the basic things that I don't have. so we we save we pay off that that's not. you know give a little money to you so. that you save it I agree but like if he. blows away his money or whatever and he. wants some from me I would have. something we're also preventing that in. the future too so we can't use citizen. excuse dude I get it trust me you don't. like you don't make any money right now. but you're you're about to be like the. breadwinner come a few years from here.

so trust me you're gonna make it back we. don't need to be you know that's true we. don't need to be going wild right now. not that 150 is wild or anything but. priorities right yeah it is anything. else on a monthly basis. so we already put in health insurance. let me let me look at my rocket money. what else do we. um.

great the internet okay. I pay grammarly 140 per year. okay so when that comes just you know. yeah oh okay and uh. I mean grammarly is important to like. for my work and it can be very nice it's. really nice yeah otherwise I wouldn't be. able to write the emails that I do yeah. okay.

um you already put in 157 for a firm. nope or the debt not yet but but yeah. that is the debt okay okay okay yeah. basically apart from that no. sure okay so let's add up the minimum. monthly payments for debts and then. we'll get your budget yeah let's do that. what am I are we forgetting something. for for a budget perspective and it's.

okay if you do. um we will just you just put that in. your budget your plan this will give us. a rough plan so we can see where things. land. we have grocery Transportation housing. oh man there's that Money Entertainment. we don't have entertainment we have free. yeah we have ads 1 800 13.75 for debt. minimum monthly payments will ruin me. which one are you are you putting in. that's all minimum monthly payments. which is that for the American Express.

it's for all minimum yeah well American. Express has gone down though yes we I. think I put that one down yeah that is. 790 so put it as 800 I guess. so American Express is now 798 which is. 800 a month the gold card yeah the gold. card okay yeah so okay gold card is 800. so okay minimum to survive on a monthly. basis is now six thousand one hundred. fifty dollars seventy five cents okay. yeah that's that's pretty much what I. have too okay perfect so what we need to.

do 9 200 minus six thousand one hundred. fifty dollars so we're gonna have three. thousand dollars left over essentially. we'll just round it to three to keep. things simple yep. three thousand bucks what I need you. guys to do for two months is we're not. making extra payments on things well. wait one second. never mind. the two thousand dollars that you have. in that checking account we're taking it. out. and we're putting it with the four. thousand dollars in a high yield savings. account boom that's a that's a one month. emergency fund if anything happens to.

your income because right now which is a. single income so if anything happens to. you we can at least survive for a month. while you scatter to you know to find. another job she has a minimum. requirement on her back yeah I can't. hold that account okay uh a thousand. five hundred out it will it'll be very. close but just just bring out as much as. you can put it in there we'll call it a. one month emergency fund and just like. kind of round that yeah in your first. month but okay so we're doing that. immediately then first month what I. would do is pay off the Apple card as.

you said this month so that's gone. so Apple card is gone month number two. we're almost paying off the Best Buy. card. month number three we're finishing the. Best Buy cards I should be able to pay. off the Best Buy card about next month. okay so month number two Best Buy card. is paid off yeah now we're gonna attack. the Sapphire card we're gonna say it's. like seven thousand four times exactly. what I was thinking man that's I'm glad. they're on the same page. uh and then now you have a little bit. more money to work with on a monthly. basis so it's going to take two months.

to pay off the Sapphire card so we're. entering month number five so the gold. card this is obviously again this is. gonna be our grind this is gonna be our. grind for sure so that's the reason why. I put it as like I've set up a payment. plan for them yeah so let's say it's at. thirty thousand dollars at the time now. again at this point we have about three. thousand six hundred dollars left on a. monthly basis now yeah that's gonna take. eight months eight and a half months so. we are eight months until when.

that's eight months from starting your. gold card to win this is these are all. the different accounts that I have as. you can see so I don't know if you wanna. then look at that and be like hey you. know what maybe we should take out money. from this I don't know I don't know I. think we can attack this without having. to do that okay cool really do it's up. to you if you want to speed the process. up go for it but we don't have to so. this is a year in one and a half months. a year and one and a half months and.

we're out of our credit card debt. completely for all you can speed it up. by selling off some of the things if you. want yeah all the credit cards the Bank. of America credit card under. people always ask me what high yield. savings account do I use for my own. money some of you know by now it's so. far I love them it's great for my. checking account needs it's great for my. high yield savings account needs and. right now I'm getting 4.5 interest on my. monies I love that right on my money's. 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. this should be a Bank of America because. America what Platinum. no I don't have that I think so I sent. it because that was uh like seven. thousand dollars oh geez. okay so then if you do that that'll add. an extra couple of months at that time. if we put it in the snowball so it'll be. a year and three and a half months. you're in three minutes so it's called a. year and four months just be a little.

more conservative year and three and a. half months without you saying anything. without getting any bonuses without. getting a raise. okay. at that time and throughout this whole. process the mattress I do minimally. payment sales paid off no interest your. student loans I would honestly do the. same I have minimum monthly payments. until it's paid off okay if you want to. just knock it out it takes a month do it. yeah but it's up to you what I need you. to do from there though. save up another eighteen thousand. dollars which now I have an extra like.

18 miles my six month emergency fund is. probably gonna be like fifty thousand. dollars for emergency why. what my minimum requirement is what six. thousand a month right no but well yes. but now that the debt minimum oh yeah. yes yes yes so you need eighteen. thousand dollars on top of the six. thousand dollars you already have in. there so fifteen thousand dollars we're. gonna divide that by the now seven. thousand five hundred dollars you guys. have left on a monthly basis. it only takes two and a half months so. let's just be Uber conservative and say.

a year and a half you guys are. completely out of any bad debt and you. have a six month emergency fund your. guys's lives are changed dude that's. what I want done a year and a half and. it's completely done then if we. especially once you get your higher. income in years to come if we are 50 30. 20 if you just do 50 on needs max out. cut it if you want but Max at 50 no. higher yeah you can do 30 on want live. quite a lavish lifestyle and then just. 20 in investing you know what I would do. I would do 25 in investing I'd probably. do 30 in investing.

just to catch up for the age I would do. minimum 25. so I'll do like 50 25 25 but. if you want to do 30 go for it live a. little though we're working so that we. can get to the point where you can live. I just want that our kids never have to. like we I don't ever want us to be. relying on our kids if you invest 25. especially once you get your income and. we're investing 25 of the household. income on a monthly basis you guys are. going to retire multi-millionaires it's. not going to be an issue uh if you want. to do more you can but don't forget to. live too we're doing the year and a half.

sacrifice so that at that point then you. can live budgetedly yes smart yeah we're. doing it in an appropriate manner that. we have not done historically yeah but. at that point you guys will retire. multi-millionaires by the time you hit. 60s 65 perfect yeah that's what I want. you guys have a great life ahead of you. now what excites me about this is you. guys are clearly fired up and ready to. go it has been a recent thing so don't. let old habits creep up have. conversations about this you guys are on.

the same page which I love like you know. uh a lot of the stuff that you said and. pulling agreement with what he said and. vice versa and that's very exciting and. encouraging have open honest. conversations about the financial goals. we have make sure we're on the same page. make sure one person has been pushing. harder than the other and making someone. uncomfortable you know we're on the same. page and then you guys are gonna do so. well I promise if you follow this plan. yeah I think so the most important thing. is having a budget I believe that you. follow why did that you follow the thing.

is 99 of people just don't have one yeah. don't even have one it's just like hey. whatever comes in I spend all of it. someone will make a quick spreadsheet. and then they'll never follow it as well. constantly yeah. so I really appreciate that no I think. you guys have a bright future ahead of. you just grind grind for a little bit. and it's worth it you'll only be 32 and. a half and you'll you'll be 29. you. won't even be 30 yet and you guys will. have a fully funded emergency fund and. no bad debt it's incredible that's great. yeah I eventually I want to get into.

like realistic property I'm a big. investor I'm big on investments uh yeah. and you know but first pay off all the. debts. yeah. one step at a time but that is exciting. I get it like I own a few runs of. properties I love it it's good how come. you've never told your side of the story. what do you mean I have they're older. videos when you say that you're a. product manager I still do not know. product manager and what how I mean it's. so cool that I have another product. interestingly enough I don't know when. it's gonna be uploaded but I was on ice. coffee hour and we talked about that a.

little so oh okay it's good good good. yeah any final thoughts well no thank. you so much actually for everything that. you do and for everything your channel. does and no thank you guys behind the. scenes everybody thank you guys because. you're here you're here to put your. situation on this way that other people. are going to relate to just like you. related to other people's situation so. thank you guys I'm glad that you started. this yeah thank you it was fun. in person. no matter what you guys think he's. actually passionate about what he does I.

am my voice gets raised and I get. emotional I'm fine but that's fine. that's what's required. for Bob and salmond I think overall. they're gonna do really well it sounds. like they're willing to sacrifice and. they are on the same page and that is. the most important thing when it comes. to a marriage and getting on the same. Financial progress plan and making it in. the world so I'm happy with that for the. hammer friends on school right now. spending a bunch of three out of ten. certainly afterwards we've seen but also. too much overspending and not really. budgeting categorizing things very well.

not very happy about that in fact I'll. give them a 4 out of 10. debt one out of. ten the only reason it's not a zero is. because there's no IRS debt or. collections but it's still really bad. credit card debt with really bad. interest rates two out of ten for. emergency fund there's a little bit. there nothing too much retirement three. out of ten again there's a bit there but. certainly behind for the household age. and real estate not a part of the. conversation yet but it will be and I. know he wants to get into it zero out of. ten Hammer Financial score right now two. out of ten don't forget to check out all. the resources Linked In the description. below they are what I use or would use. in specific situations if you want to be.

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