She'd Rather Eat Out Than Get Out Of Debt | Financial Audit

hi my name is Mel I'm from San Antonio. I'm 22 years old and this is financial. audit but we do for a living in San. Antonio right now. two things but three things okay so. first I'm a student I'm in grad school. second I work remote for the Ford Motor. Company on their talent acquisition team. as a social media Co-op so only 20 hours. there. and then I also work at HEB as a. personal shopper and then I also do like.

cross-functional. and I work like 25 26 hours over there. like every week okay so what are you. bringing in from each position. um around 300 a week from HEB and then. around 850 to 900. um twice a month with Ford. okay sorry that was a lot that was a lot. is that those are our pre-taxes uh after. tax after tax for both those yeah okay. so 1700. from Ford.

and it was 300 a week yeah it depends on. how many hours I work but that's usually. how much should I bring back a week they. pay me weekly. about an extra thirteen hundred. yeah a month yeah. okay so 22 did you just get out of. college did you not go to college what. was that situation. it did so I got my undergrad uh last May. in what in marketing and now you're. bringing home take home three thousand.

dollars a month yeah is what's in your. account you're seeing yes okay so 22 3. 000 hours a month. or 36 000 a year. post tax and contributions and. everything like that deductions all that. good stuff yeah you know not terrible. for right after graduation but how do. you feel. I feel like I could do better and I. haven't started in a 401k or anything. like that. any reason why no I just haven't I know. that's as well but you just haven't. because I guess okay one of my jobs.

offers it I just need to sign up I just. haven't signed up for it so. and they match I I've just been lazy why. is this fourth position on a full-time. position for you. um you know what that's a good question. I started uh almost four yeah four. months ago so I think it's just like a. trial because there's another girl. that's full time now and she started as. a co-op so I think it's just trying to. see how it goes um but I have it as a. part-time because I wasn't sure how. demanding grad school would be but now I.

feel like I can handle a full-time job. now. oh okay yeah so I wanted uh I guess the. flexibility to cut back hours if I had. to so I have for sure like forward pays. my bills. so I'm trying to go into a career. position right now. I mean it's in my field what would grad. school be for. eign.

books a month I'm curious what's the. tuition. um. um 12 000 a year. thirteen thousand. so why aren't you cash flowing up. wouldn't you really paying for it yeah. yeah I don't want to feel the pain of it. right now what I don't want to feel the.

pain I mean there's no interest on my. loans what is you don't want to feel the. pain but you're just. like delaying like an ultra large tumor. that has to get removed eventually. instead of just dealing with it now true. it was letting it grow yeah and. nothing's gonna be forgiven. okay well if I work for the government. okay well I'm looking at that what the. 10-year forgiveness program and even. then I've seen like sketchy records. or like success rates and stuff because.

you got to be absolutely perfect and. then apply for it you can't accidentally. you know like forget to make a payment. is that what you're saying yeah like all. you do is one little mess up oh. in that 10 years yeah between nine and a. half years yeah and then whoops because. I changed checking accounts and. something either way okay well good. point. um so I just pulled out my last loan so. I'm planning to be done by next May so I. don't have to pull out anything.

okay well what upsets me okay give. yourself a score zero out of ten where. do you think you are financially. I feel like I'm a five. okay so what upsets me is why are we. taking out student loan debt when you. could be cash flowing this and it's in. San Antonio so it's a relatively cheaper. city as far as cities go yeah and the. tuition you could cash flow you could. have rent you could do things we'd be. living you know certainly not luxurious. but you could cash flow and then a lot. of the things that I went through here.

kind of upset me that you're taking out. student loans and then doing the things. that you're doing. um. so why do we so we have a like alone. here yeah of two thousand dollars I. don't even know what this is and what's. this for what is this it was a uh for. credit card consolidation okay okay so I. got a credit card at 19 18 and I want I. needed a a Macbook okay I didn't need a. Macbook I needed a computer for school. and I got like their card there was no. interest on it and I was just doing.

minimum payments this was before I knew. about credit cards and stuff this was. before I was just paying the minimum and. then I realized the year was gonna the. two-year Mark was gonna come up and they. started charging interest and then I. started using the credit card and it was. just too much so I just used that loan. to pay off all my credit cards. okay yeah because the yeah you better. paid off these when did you do this I. did that like two a year and a half ago. two years ago oh yeah I can see how it. was tempting at that time because if. you're interested in or not we could.

have just paid this off yeah in fact I. see no reason why you're not paying this. off because it's at over 10 interest 90. a month. it's really no reason for this to exist. yeah a little confused there's no reason. for this to exist and there's no reason. for you to be taking off student loans. okay. sure now okay here's something you pay. off your credit cards now yeah now I do. kind of kind of well we'll get to one of. them but oh okay yeah yeah but what's. stupid is you're taking out student. loans how much are you taking out a.

semester are you taking it all out or. are you catching on any of it no okay. well this past this coming semester I. took out 20 000. what was the annual tuition it was 10. something well. um with books and all that uh books were. at did not double it I went through. college I did the books they did not. take it from attendance okay for a. semester it should have been five right. if you said it was ten something for an. annual tuition like 12. okay but how do. we get to 20 for a semester well no no.

for two for a whole year okay okay so. how do we get to 20 again did you borrow. for your like I borrowed for the whole. year next year but I get it but how do. we go from 12 to 20 though oh oh and yes. I do know books cost money and if that. was which again cash flow but if you. could it's uh because I'm taking four. grad classes next semester and then. three of them are in the evening. and I'm worried that I won't get enough. hours or my schedule will fit me to get. enough hours at egb.

you know what I'm saying because I work. evening what's that the excuse for what. are you trying to excuse with that oh in. case I need to pull up need money to. like pay bills okay I see what you're. saying there but that will not excuse. the next thing we're going into oh okay. but before we do that you also have no. excuse to not hit the Subscribe button. because you should subscribe and we're. so close to 500 000 subscribers but okay. so we're doing we're not we're not. paying for uh school right now and cash. flow and we're borrowing because you.

know we might need money okay we might. need money as she goes and spends 500 on. both immediately this makes no sense. you're getting coffee getting Burgers. we're getting uh some crap from the gas. station because that was not enough. money for gas in the invented family and. Starbucks in canva and some scorpion. place and another restaurant in Lyft. rides in midnight indoordash and social. spa and Discovery Plus in Chick-fil-A. and Alta and First Watch and Disney Plus. yeah so we can't pay for school because.

we and we need to set money aside just. in case we don't have another job yet. your money you're going and spending. dumb both money stupid money oh I go out. once a week. it's a week that is not once a week I. don't know what you consider going out. guess what there's like four weeks in a. month how many things did I just name. off. what. I didn't realize how bad it was do you. budget. I try okay so you don't budge no not. really I just pay off my card.

and I make sure I have no okay my way of. budgeting there is no excuse anymore. again this is why I was immediately. upset with you taking out student loans. if we're doing this. on a monthly weekly daily basis why are. you taking out debt you know that. translates to you taking out debt so you. can continue to spend this. or else this money you'd be living on. you know packed lunches every single day. and you'd be paying for school and. living in a meh you know uh studio.

apartment. yeah what's your logic here what's. happening. I don't even know honestly uh I just. okay my way of budgeting is I have two. savings three savings accounts one of. them is for my rent utilities I have. another one for like I know monthly okay. monthly expenses and then I have a money. Plus account that actually like I don't. touch the money I try not to okay so out.

of your three savings accounts one is. for savings yeah the other two how much. is in that money Plus account like six. thousand eight hundred. six thousand eight hundred yes okay so. if you already have like a baseline. emergency fund. saved up why the. are you not just paying for school dude. you make the money to do it if you were. in a situation where you weren't making. the money to do it we can have that. conversation but you are and you're.

choosing for it to go to Bulls. [Music]. we have a checking account let's see. what you do in your checking account. okay let's do an apple cash 101 dollars. who knows where that went and Cherry. Technologies you go to well you know now. that you said you work at HEB I'm no. longer thinking these HEB things are all. groceries anymore I think you're picking. up some crap there too picking up some. like drinks and stuff because you go to. 18 every second of your life yeah I get. like water.

when yeah I get like electrolyte water. breaks. happening stuff on here. paying towards cards Nordstrom 75 you. need to get 75 on Nordstrom when we're. taking out loans for school that was. from my mom that was Mother's Day I used. my Nordstrom card be like hey Mom for. Mother's Day I'm like going to school in. cash flowing it and then I'm gonna have.

an awesome life so you don't have to. take care of me happy Mother's Day I'm. trying to live life over here yeah you. needed to go hundred ten dollars nails. I paid for my mom too well I paid for. her and me but it was her birthday it. was her birthday it was my birthday too. you know it's birthdays happy birthday. stop having student loans. what. you get cash app and a lot who's sending. you money cash app oh that's HEB I have. my ATB direct deposit to my cash app so.

it gets to me faster Apple cash is. always going out. oh because I used to use Zell but that's. for like utilities and stuff with my. because I I live with my boyfriend and. we like split rent and utilities okay. yeah and Alta. I don't know what is this. thing what is this mobile xfr. Mobile Transfer is that what it is. okay yeah that makes sense to where I. don't know where that's going it might. be from my savings it's one of my.

savings accounts scrub-a-doo car. necessary when you're not when you can't. even pay for school come on. oh it just transfers back and forth. transfers back and forth and application. transfers and transfers and transfers. this is an absolute Mass yeah it's a lot. of transformation Starbucks yeah we need. to be doing that again the HEB dollar. two dollars this is all stacking up it's. constant constant constant um. so this goes up yeah so bounce only 102. in your checking account.

um. and we need to be spending that money. like that is that what we need to be. doing. I mean I try to leave myself with at. least 150 a week that's my budget a week. on just like groceries and gas you were. spending well more than that. with both the accounts we looked at. combined already yeah and we have more. accounts to go you spell went well. beyond that. all right all right. imprint an HEB card.

you get five percent cash back okay I. pay it off then yeah you do 20 yeah but. then you favored Subway it's the most. expensive way to get the food I know I. try not to. I've never had the worst collection of. ingredients ever put in my mouth and. then you favored it which is kind of. like doordash but only in Texas and it's. like a stupid expensive version so again. we're doing twenty dollars towards.

I know Subway of all places I was lazy. and yeah yeah lazy and lazy with your. taste buds yeah and you couldn't again. you're doing that but we're deciding to. take out student loans for school. this is one thing but out of everything. that we've talked about it just. continues to stack up to like. like once every other day not once a. week by the way like once every other. day in terms of different purchases not. necessarily all going out to eat but. once every day in terms of stuff that is. both that you did not need to have okay.

Barclays I don't I don't use it anymore. yeah that's the one yeah that's the one. that paid off yeah with that loan. well he had a previous balance he did. something and then you paid it off oh I. don't know what it was yeah and then. again why are we doing this bull this is. stupid why do we do this if the. synchrony card for American Eagle we. have a 29 late fee why are we getting. Starbucks why are we doing this bull why. are we doing this bull if we have a late. fee because we're not making a payment I.

forgot I rarely use it on auto I forgot. that but I forgot about that I forgot I. rarely use that card what's the point of. even having credit cards if we're. someone who gets late fees. that's not my usual I'm usually on top. of it I rarely use that card well guess. what you also succumbed to 30 interest. on it yeah. I got that a long time ago. what the car yeah the car just stop yeah. why even put money on it if you're not. gonna if you're not gonna pay it off.

again that makes you not a credit card. person in that instance. then Ikea so we zero percent finances. from Ikea furniture yeah I'm trying to. pay it off originally. what did you get. furniture for the apartment have you. ever looked at Facebook Marketplace it's. fantastic I did find one thing 37. minimum monthly payment. zero percent interest for now. okay not need to be doing this this is. like the last thing we needed to be. doing. is new furniture and Ikea can be.

relatively affordable that's the last. thing you needed to be doing yeah. Bobby I paid 200 a month but I split. that my boy I pay 100 and my boyfriend. pays the other hundred so it's not all. me. so student loans I see between eight. loans 36. 386. yes so that's before I put out the. recent twenty thousand so twenty. thousand is the max that's all I'm gonna. pull out I did not want to are those. federals too yes.

so you took it from because you decided. you wanted her both. and just spend on whatever we only have. view into one month but because you. wanted to Bull you decided to take your. loans from 50 36 000 to 56 000. what a. choice to make what is this government. job that you want to do what is this. thing that you want to do it's consider. okay so I'm looking at like any job I. get like I'll be fine I get a full-time. job I'm looking at student loans as like. a car payment.

like. there's no interest it's a good car. payment it's a nice car. what car payments don't have interest no. I'm just saying like I have a car right. now it's a good car it'll probably last. me a while so I don't have to worry. about that so I'm just looking at like. my student loans as a car payment you. know like I'll pay them in the future. not right now and it's not too much. money what what the what are you. talking about and how in what worlds. fifty thousand dollars not that much. money it is a lot of money where do you. come from is your family rich or.

something no then where in the world is. fifty six thousand dollars not a lot of. money well I look at it as a car it's a. nice car. I don't get this analogy that that's how. I look at it. I still don't get it yeah. that's the way I look at it well. okay. but it's something that you know comes. back to me in the future it's an. investment. okay now we could talk about it being an. investment there are investments in. towards in terms of spending money on. the degree now you're taking out.

leverage to get the degree you're taking. on Leverage for the degree and yes. technically some degrees and you're. getting an MBA that is a good map what. did you get in your undergrad again. marketing okay so I think in general. sure. maybe especially if it was more like. around thirty thousand dollars but again. you're actively choosing this is money. that could have been going to it even if. you just borrowed half let's just say. for an example you borrowed half. you're you're choosing. to have gratification now.

so that you could kick the can down the. road instead of just being a responsible. adult and taking care of yourself. so the this analogy you're using it. doesn't justify these excuses that. you're trying to have uh-huh. feel the impact now I rarely feel the. impact later but it's going to be a. bigger impact yes it's going to be. interesting even if it's only like five. percent. I only have one load I mean one loan. with interest on it it's for like three.

percent for now for now for now yeah but. at the end of August these are gonna. have interest all of them well I'm not. gonna have to pay them well not yet once. you graduate well because I wanna I'm. thinking about a PhD but I don't have to. pay for that I don't have to pay they. pay me to go to school. but are you gonna be one of those people. that then because they pay you to go to. school but it's not that much you're. gonna take out loans no no they pay for. everything okay well again you will. still have to pay for this at some point. there will be interest on this oh yes. I'm just hoping that I'll have a.

full-time job but are you gonna go to. the first paid PhD for those tend to not. have the return on investment no so I. could teach too so I could teach and. have a full-time job teaching handful. what like be a professor at a like. University and then also have a. full-time job what. so you're gonna work like what 60 80. hours a week. that's what you want to do I don't mind. it. you've never done it no but I have. professors that do it like they they. were they are professors and they also.

have like a full-time job. outside of their current job like. there's a lot of professors that do it. you don't even know what you want to do. for a career outside of that because. you're just like I just want a job what. do you want to do I really want to go. into like consumer research I like. yeah that that's why I feel like the PHD. would help because it's research. so being like a market researcher doing. like consumer analytics and stuff like. that. you're 100 doing the PhD. I'm pretty sure because it's only 66. more credits so when would you be done.

in total. 2026 2027. so I wasn't sure about it but then I saw. it was only 66 credits after your MBA so. I was like why why not and then well so. you could actually start go making money. and like live your life but yeah yeah. because this doesn't have the return on. investment monetarily typically but if. what you wanted to do if you have that. passion for teaching not necessarily.

against it as long as you are not taking. out debt to do it yeah no I don't want. to do any more debt like that's my Max. if I'm not getting paid to to go to. school then I'm not going to do it but. most phds pay you if you go full time. what is this car you have. it's a F-150. year 2018. okay you're so small for a second. but that's very Texan of you I know yeah. there's no debt on it.

my parents pay for it okay and it's in. their name yeah okay. and they pay the insurance for now it's. interesting yeah and you're on your. parents health insurance as well yes. it ends at 26. yep yeah. which is a ways away. um. any other debts. no so that's why I want to take. advantage of this time and like have a. budget do not even taking advantage of. time you decided to take out debt you.

should you're right you should be taking. advantage of this time yeah in Stack Up. less debt yeah okay so you um. your boyfriend what does he do he is a. manager on Lackland Air Force Base for. like the videography and photography. okay yeah yeah so he makes money and. he's done in school. are you guys one is your obsession well. because he got his degree in like. photography like a fine arts and.

photography but he wants to go back for. cloud computing so he's going to do that. it's time to get certification he should. get certified you know he told me that. too but I don't know yeah anything Tech. I would do like course careers or any. other uh those are the ones that I work. with but or any other uh thing as well. if they want something out of what they. offer okay but because again of my. friend group the person who makes the. most amount of money in my front group. is someone who just has a certification. okay in the tech field versus going and.

spending so much money and time in a. four-year degree doesn't make sense yeah. he could just go get this in six months. he should 100 do that either way this. isn't about him I'm just trying to. figure out your living situation okay. got it what's your portion of rent uh I. pay 600. what about utilities and all. that Goods uh about a hundred. including the internet yes. okay. gas how much money are you spending gas. in that big truck for no reason.

[Laughter]. probably 40 a week. so. do you not drive much. no. my work is and I work remote and then. the HEB is like 10 minutes away so. 173 a month. do you guys uh have like a group grocery. bill no I pay for math huh I pay for my. own groceries okay and he pays for his.

own groceries and then you guys cook. supper. yeah well because I'm. I'm on a I'm okay so I have a trainer a. personal trainer and she gives me a meal. plan so I stick to that meal plan he. doesn't like any oatmeal plant so okay. yeah can you do your meal plan for 300 a. month. yeah yeah. okay I think so. you guys split like toilet paper. spending and all that stuff yeah we do. okay then I'm Gonna Give You fifty. dollars for that 300 for groceries.

and that's right yes Miss uh Beauty and. all that stuff you have fifty dollars a. month. fifty dollars a month that's for nails. you have fifty dollars a month for all. that crap okay because guess what you. know what's more important than that. right now yeah you getting out of your. bowls and taking care of I'll give you a. hundred okay thank you. it's a toilet paper Nails whatever you. need it's all done at home you're not. paying other people come on come on okay. we're done yeah no more.

okay okay any other monthly expenses you. can think of car insurance that's taken. care of from the family health insurance. provides or like therapies or anything. what do we have. okay so I have 180 for the personal. trainer. a month. and then. eighty dollars for class pass. what's that it's like a. so basically you your subscription gives. you a certain amount of credits and you.

get to like drop into like Fitness. classes. oh you spent a lot on Fitness yeah but. depending where the budget is I'm. definitely good with that and we. certainly I'm okay with gyms and all. that stuff just depending with where we. are okay our budget will look and then. debt minimum monthly payments right now. is 126 18. it'll be above a thousand. dollars with your student loans okay. code a little bit close to a thousand. but for now. 126. it'd be about 8.50 let your.

students cooking a month for sure love. no it'll be about 700 a month okay when. you're student loans okay 650 to 700 I'm. guessing Okay. got it now again you did all this. well having going out to eat almost 500. worth of times 500 yeah. having the extra bills of which you know. where are they going 267 dollars gas 128. so that actually fits with kind of what.

we were thinking subscriptions hundred. seven dollars of stuff we're cutting. those you don't do them boyfriend can. take care of them you do not do them. anymore uh I forgot one day. what that the Cherry payment it's only. for a couple more months it's. 76.79 what is this for. um okay so I got lip injections in. February and I just didn't want to pay. it all and then there was no interest on. it so I'm just doing it monthly. I know I use I used to you I used to use. clarinet a lot.

um. that's it I think yeah. six hours for how long oh. I think for a couple more months like. four more months. [Music]. three or four we'll call it the. unbalance yes that sounds about right. [Music]. so your debt is now. 202 dollars. you have a good starter emergency fund. okay. all right well it's needed for you to.

survive 1 735 and no you don't need to. be doing the uh Apple cash hundred. dollars North 775 Alta 65 Nails 110. Buffalo Exchange 142. uh Zamora 180. oh. that was the personal training I thought. so for a second so I looked at you. immediately and then other Nails 97 we. don't need to be doing that on a monthly. basis okay I usually don't do that. usually just 90. [Music].

just past month was my birthday. so it's needed to survive on a monthly. basis. and you have three thousand dollars. there's no reason why again some of the. money shouldn't be going to school. there's no reason why you didn't have. the the that you had to take out the. twenty thousand dollars maybe you had to. take out a little. maybe half but not that twenty thousand. dollars no reason why the Cherry. shouldn't have been paid off no reason.

that the council uh consolidation loan. shouldn't have been paid off and the uh. Ikea shouldn't be just gone either. because why just Finance ourselves. forever because you need to get in a. situation where you might not be working. as much yeah we don't want minimum. monthly payments. now yeah what do we do. congratulations fantastic proud of you. happy for you you're putting two. thousand dollars from the six thousand. three hundred dollars and leaving it in. there you're taking out.

um using it towards the loan 4 300. you're taking out. of your savings yes four thousand three. hundred congratulations and you're. paying off two thousand dollars in the. consolidation five hundred forty six. dollars of the Ikea in 304 dollars in. the Cherry. what do we say take out four thousand. three hundred. I mean you probably don't have to take. that entire out what you have to take. out uh so what you can leave in is three. thousand three hundred seventy nine.

dollars and then take out the remainder. and pay those off. and then you'll keep in there three. thousand whatever whatever that was. again okay. the rest go. to paying off the debt and we don't have. to worry about that and that also. minimizes 200 202 dollars of minimum. monthly payments which would be nice. when your income situation is. questionable and then from there you. only follow this budget you only follow. this budget it's not a question until. you get to at least ten thousand dollars.

ten thousand hours yep ten thousand. hours is saved up and then from there. that's your emergency fund throughout. the remainder of your Masters in the and. then your PhD everything else that is. coming in that isn't going to what is. needed to survive which will be about. 1500 at that point following this budget. all throughout your PhD your boyfriend. getting paid to go out to eat your. boyfriend can pay for whatever whatever. this is what it is this is what it is I.

just feel bad because he has way more. debt than me well he can take care of. his own situation tell him to come on. the show and we'll talk about that but I. can only talk about you yeah either way. you're not paying for crap he probably. shouldn't yeah but you are definitely. not paying for crap okay what I will do. after you get ten thousand dollars you. can set a hundred dollars aside on a. monthly basis for fun so you can go. spend 25 a week on Starbucks or whatever. though but that is it everything else. the other about a thousand.

a thousand four hundred dollars you're. going to start putting towards the. student loans. you have ten thousand dollars saved up. 100 goes to fun here's your budget. outside of that that we already laid on. the screen and we talked about here then. a thousand four hundred dollars is going. to put towards the student loans it's on. a monthly basis. [Music]. that's going to be sixteen thousand. eight hundred dollars meaning your. student loans where you could pay them. even though you're in school yeah oh. you're uh 2027 you said is when you'd be.

done yeah and how long would it take to. get to. uh so the first year you'll get to ten. thousand dollars so from now so that's. 2024 meaning. so 2024. 2025 2026. 2027 so four years of of 16 800 should. go to your student loans so like don't. even think about a house. many times dude.

come on I just hate paying rent I'd. rather like yes no no I get you I get. you but are you guys going to be settled. in San Antonio are you staying there. forever. I think for now what's for now. I mean it's home this is not a good job. over there and like I know it I know the. area once you know what you're going to. be we can talk about that okay okay so. I'd get in contact with your student. loan provider. the student loans that you've taken out. whatever is above four percent that's.

what we're paying down whatever is. beneath four percent you can wait until. those kick in and pay minimum three. payments until they're paid off and then. everything on top once those above four. percents are paid off sure start. throwing that towards a home fund and. you can start saving up for a down. payment through what you should be able. to save up until you're done with PhD. and everything. if the income stays the same will the. income stay the same I'm hoping to go up. oh okay well if it just stays the same. you should have 67 200 plus the ten.

thousand dollars you saved up but that's. wait that's saved up from this budget. that is what would be saved not. necessarily saved up but put towards the. student loans and and say so that's. either way that's your extra money by. the end of PhD if income stays the same. does not decrease. um that's what should be put towards. anything after the ten thousand hours of. saved up and these credit cards are paid. off okay so some of that will go towards. anything above four percent on the.

student loans and then some of it can go. towards the saving up for the home. purchase. well this is what I would do so let's do. it again you have the budget. now what you do from here is you pull. money from your savings and you pay off. consolidation the Ikea and the Cherry. everything that's left in there you go. aggressive aggressive following my. budget until you have 10 000 hours saved.

up total in your emergency fund then you. can have 100 hours a month for fun 25 a. week and what you're doing from there is. you're aggressively everything outside. of that pain down uh the student loans. that will be five percent or higher four. percent or higher and you're going to. contact them and see what they will. because it's going to mark them at zero. percent on the website so you want to. get some insight into that awesome now. once you're done it's not really zero. percent. not really zero percent if it's seven. percent. zero percent forever zero percent.

because you're in school still and. because it's still paused yeah no it's. gonna it's gonna range from likely three. to six percent so you're doing the ones. that are above four percent okay and. then I did have a question. well okay let me get through the plan. first okay okay so you've done that. you've you've passed ten thousand. dollars you've paid off your credit. cards and you've uh paid off any student. loans that will be above four percent. from there you can follow the 50 30 20. rule 50 on needs 30 on fun if you want. and 20 on investing I don't want.

everything to go towards the home I want. you to minimum starting a year from now. minimum be maxing out your Roth IRA is 6. 500 a year you need to be doing that. because you're in your early 20s and we. want to take advantage of that snowball. that is compound growth going into the. rest of your life okay so and then yes. anything you can save outside of that uh. anything you can say about the side of. that to get towards the down payment of. a house yeah I do that and you said you. have an employer match as well I would. take that because that's a hundred.

percent return on your money there's no. reason not to take that so you should. start taking that now yeah yeah what was. your question. uh close. where does that fall in the budget you. already have clothes yeah I do but. you're fine yeah sometimes I just want. to buy one thing yeah sometimes you want. to if your wants I don't give again once. you get to the point where I said 50 30. 20. you can spend 30 on want put that in. your clothes you don't get to do that. until now the budget I laid out here. rent utilities gas groceries toll paper. money trainer cross pass and I'm giving.

you that stuff I'm allowing you to do. that congratulations into that middle. monthly payments nothing to spend. outside of that that's your budget. there's nothing else not a single penny. unless an emergency pops up but that. goes from your emergency fund anyway. okay so no I don't give if you want to. buy something for clothes okay I don't. care if you want to get lip injections. you're not doing it it's not happening. you're getting your life in order and. you're going to live the most amazing. life ever you're gonna I think out of. many people who've been here you're in. the position where you're going to be.

wealthy in your 30s I'm hoping it's. going to be incredible but that's if you. follow this and stop going down this. path of stupid stop taking out student. loans okay we want to have the both. right now because we want to buy clothes. and get lip injections no I don't give. it you're taking care of your life so. you can live an amazing life later okay. deal deal. lip injections. it's like a once a year thing. it makes me feel better I don't care you.

will feel better not having debt bad. debt yeah stop okay have all the lip. injections get weekly injections for all. I care once this is taken care of. definitely not I don't care you can do. whatever you want but you're not doing. it now okay it all this is the budget if. you're gonna have this then no oh I'm. not gonna do high fast okay that's just. like a once a year thing that I think of. just stop and your dude your Situation's. in a good spot because you're paying off. this debt immediately and then saving up. the fully funded emergence fund within a.

year a year is nothing okay yeah just do. it okay but after that year I can't. after a year you can fit it into your. wants okay cool but do not go over that. you're in your minimum accidental Roth. IRA and then you want to save up as much. money as you want so you can get that. house because you want to get the house. I do want to get the house so prioritize. things be an adult grow up man I'm. trying okay yeah. what do you think what will you actually. do I want to put yourself in your. realistic shoes.

what will you actually do I'm confident. that I'll follow the budget I'm pretty. disciplined I'm a disciplined person for. the most part I think I am okay I work. hard. okay. I just needed a plan I needed guidance. because I was going off of me admit had. my budget way higher. so. I needed that I needed discipline so I. think I will be able to follow it. lip injections I don't know no because. if you don't cut cut the things when's.

your next injection needed not till. March next year you should be fine you. should have your fully funded emergency. fund by then okay if you actually follow. this plan okay. March of this year. okay. if you're not good by then then. something went wrong and you emergencies. are okay okay those I can respect well. absolutely but.

it makes no sense for you to be sitting. on 6 300 when you're losing 10 on two. thousand dollars for the consolidation. that's stupid that's stupid. I don't know take care of that I mean. just take care of these tests okay. did you have a chance to be a. multi-multi multi-millionaire if you. start maxing out your Roth IRA next year. and we're looking towards this home. purchase you're going to be fantastic. but not if we're just prioritizing and I. want to get a piece of clothes yeah I. don't care if you want to get a piece of.

clothing. I don't give a take care of yourself be. an adult yeah I will give me more. thoughts what do you think. um no I think I'll follow it I think. it's a good budget it doesn't I don't. know the the class pass and the gym. membership I was scared those had to go. so I'm happy they're there. um food I think I can make it work. I don't know I feel like I can. feel if you if you can't make the food. work you have to cut from your nails.

um you have to cut from your nails or. get rid of class pass something like. that you have to maneuver some of those. things around if you cannot get your. food under 300 if it's always under 400. then you have to get rid of cast. uh class pass and uh 80 hours of toilet. paper nails and whatever one last thing. we're moving to a different apartment so. my rent's gonna go up by like 100. that's it. okay then you just have to calculate on. that budget it's just going to extend. you know an extra thousand two hundred.

it's gonna extend. uh how long that takes for the emergency. fund okay that is what it is you already. signed right. don't do it if you haven't already. signed there's no reason to. yeah and it's not what's wrong with the. price it's not it's like what's right. it's a thousand two hundred The Other. Place what's the rent gonna go up to oh. we're going to a thousand three hundred.

and what oh what is it right now the. place you're at right now what would. your rent go to from 600 to what. oh it would go up to 700 no it wouldn't. yeah it's going up by 100. so either way. it's going to put 500 yeah either way. it's good okay you can move you can move. yeah and put that in a budget and that's. fine yeah that's fine you can afford it. we just want more and more money to go. towards uh uh saving up the fully funded. emergency fund and then throwing down on. that anything about four percent.

okay put that okay. I think I do it I could do it anything. else any more surprises. trying to think. no. okay we'll follow up in here then and. that should that you should start you. should. be contributing to a Roth IRA and you. should be all the debt should be gone. you should have a fully funded emergency. fund and you should start attacking. student loans good yeah that sounds good. for Mel I think she can really have an.

amazing. she really buckles down and takes care. of this what's worrying me is she's just. kind of half-assing things you know. spending all that money when a lot of it. could have been just going to funding. school so hammer Financial score right. now spending within a budget I mean. because she's spending money that should. be going to school I have no choice but. to give it to zero out of ten and that. it's not the worst debts we've ever seen. by far three out of ten retirement. there's nothing yet zero out of ten. emergency fund sure a lot of what she. saved up right now is gonna go to paying.

off a lot of the debts but she has a. strong start there six out of ten real. estate she'll get there but you know. only 22 right now it's reasonable that. that is a zero out of ten Aggregates. total Hammer Financial score two out of. ten if you want a free five dollars sign. up for acorns using the link in the. description below you get a free five. dollars I get a free five dollars we all. win it's great and don't forget to. follow my Instagram and Twitter thanks.