She’s Fights Me Because She Loves Her Bad Debt | Financial Audit

my name is Tyshawn Allen I'm 27 years. old I am based in Austin Texas and this. is financial audit I'm excited about. this one this is the follow-up episode. you don't need to have seen the last. episode because it's just gonna be any. standard audit like any standard audit. but I am actually excited about this one. because you're literally the second one. we ever recorded second one we ever. released and you're here now I want to. see the best progress ever made for me. because you're one of the oldest we've. had in terms of you know when the video.

was done and. because you had some of the most wild. like endless credit cards and we laid. out a plan to start getting out of them. I don't know when we when I look through. the past video would you be a fully out. of them by now not necessarily but the. progress is what I'm hoping to see yeah. okay so in the last like nine months or. so 10 months. what's happened I mean I feel like a lot. of progresses but I mean I did not. compare expenses to expenses but I feel. like my money is going to better places.

if that makes sense I ended up getting a. car payment which is sucky but I'm I. have that and it's going fine I have. jobs where I have I can pay what I need. to pay and so I have extra money. different than the last car payment or. the car payment we talked about last. time did I have my new car license yeah. and it was really really cool. yeah. we talked about selling it we did which. I don't know I didn't even. get into that but it's fine because I've. been paying it comfortably comfortably.

yeah okay sorry continue. um. but yeah I mean I think was I. I may have been personal assistant. already I'm not sure no you were doing. odd jobs you just quit spectrum and. you're doing oh yeah it was literally. like unemployed when I. talking about all my debt yeah um but. now I found this woman Jesse she is a. company and she needed help for like. three weeks because she shattered her. collarbone and I've been with them for. like 10 months now but I personal assist. for her and it's like also like family. so she helps she takes care of me she. feeds me she like she fills my gas tank. oh it's a very close relationship but.

again still work I was doing that full. time. which is 20 an hour but it was a taxed. so. I need to do my taxes anyways that's a. whole nother story but I was getting 20. an hour just to work whenever and again. that helps with like expenses with food. and everything extra so I was kind of. still saving but then I started doing. lashes because she was supposed to move. very very far so I'm doing that now so I. still get my checks and I still work for. her part-time I work seven days a week. but the days when I'm with her I'm like.

it's like I'm chilling so it's like did. you work today geez yep so what are you. bringing in with that assistant job is. it still the 20 bucks an hour yeah. that's kind of like extra money at this. point like I can. if I spend my checks less only for my. last job I wouldn't have to. do anything but like I don't I don't. know I she's extra spending money or if. I um I know like what the third week of. the month I make sure I work to pay my. car payment and if I don't work I can. still pay it off with those checks. but um I it ranges if I feel like going. in or mentally I can go in but it's like. 200 to 450 a week maybe from sorry from.

her and then every two weeks the last. job ranges but they've been I started in. like November and you have to make your. way up so I think it would range between. 14 and 1600 now. so 3 000 bucks a month for that is that. before Texas on that second job. um no after it's also hits your account.

is 3 000 bucks yeah yeah yeah okay took. me a second and that 250 was that. bi-weekly again or weekly that's weekly. okay so an extra thousand. which needs to have taxes paid on it yes. and you're gonna be in if you were just. doing that on a monthly basis you. wouldn't really have to pay much taxes. on that but. yeah you're also bringing an extra three. thousand dollars a month post taxes so. it's gonna push you into a tax bracket. well you will have to pay a little bit. on this extra 12 000 bucks you're. bringing in here already anyway yeah. have you filed last year's taxes.

I was going to take it somewhere just. because my situation with Jesse is like. I'm not an employee so I didn't know how. I was supposed to do that she doesn't. pay me like I'm not logged like I'm not. I don't know from her company the IRS. wants the money it's okay okay. I I would never advise any one of those. I'm not gonna say this but just for your. comfort level so you're not freaking out. but the likelihood of you getting. audited is like. almost yeah I think well after this I. don't know but. um no even still but the IRS wants their.

monies yeah they're kind of dicks and. yeah that's something I would claim. especially Just for future purchases and. things like that I wanted to apply for. yeah I made over 20 grand almost public. um yeah just within the last year though. yeah yeah did you file for extension for. your debt. that's bad no that's bad it wasn't on. purpose I just I don't care I don't know. what I'm doing half the time and then I. forget I'm not gonna lie to you that's. just using how it goes it just says.

Texas oh by this date. yeah. and then you can do it on like turbo I. can't explain the way my brain works I. forgot that someone is you forgot yeah. okay I wanted it to be done properly. because of that situation but I was. gonna take it to Jackson you and I made. like three appointments that I missed. and I kept having to reschedule mainly. because because of work which in turn. kind of. just ridiculous but this person that. should help out yeah say yo I got it I'm. in a I'm in a situation I need to just.

go see a CPA real quick a Tax Advisor. and let them help me because you need to. see one right now no I'm sure that. you're good to go because you haven't. filed taxes or filed for extension. no that's I know what happens from there. is beyond me I'm gonna let a tax expert. deal with that but that's you're putting. yourself in a dangerous position I know. all right y'all we got to talk about. something important data Brokers are. making a fortune selling your private. data out and it goes to robocallers and. scammers and other people who want to.

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or check out the link in the description. below I don't want no one to be coming. after you garnishing your wages. these are things I think about I think I. just blocked them out first like not for. we don't block them out anymore yeah we. don't block them out anymore. okay. okay that's a that's it regardless of. that everything's been going great good. yeah pay is much better yeah and. handling stuff on time situation is. completely different this is fantastic. uh okay yeah and if you want things to.

go a lot better hit that subscribe. button it's a good luck button and we're. trying to get to 500 000 subscribers. thank you to everyone who has subscribed. so far. okay and paying down debt so we like. aggressively pain are we minimum monthly. pain what have you been doing because. there were a lot of documents on my way. I was hoping some of them like would not. have been sent my way anymore. I think there's less okay I believe. there's less there's probably less. because now it's on there that's gone I. mean I paid a couple off but I also had.

to use some again I oh why I am trying. to use them responsibly well more. responsibly than last time it's been. going good my credit score is still. going up like I pay them the minimum and. then when I can I pay extra but it's not. like on any schedule it's just kind of I. don't have everything down to a t yet I. know that for sure but I'm doing way. better. um well I will give my full judgment on. that I want to hear from your. perspective. your financial situation give yourself a.

ranking 0 out of 10. I mean if I think realistically like. about the world of five but I'm way more. comfortable. five out of ten yep all right well let. us see let's let's live with myself. five out of ten I've been doing really. the overall Financial picture where like. people should be though. I think I mean yeah I still have dead. pay off like I could be doing better but. I am. personally feeling way more comfortable. but definitely way better yeah five out. of ten okay okay five at a time all. right let's start with the checking.

account yeah okay yeah okay. so I'm glad your income's doing a lot. better you know it's not doing a lot. better why'd you end what is that this. is your this is what do you mean what is. that it's what you sent me I know but. it's your checking account ended with. five dollars Thirty cents in it it's not. right. with that from some of these are from. April and some of these well yeah but at. the time of this statement have been. sent five dollars Thirty cents was in. that's all it was in no it's not what's. in it now.

like two something two thousand can I. move a lot of my money not. um. I will say I have money and like a cash. app situation that's like my spending. ish what I have been putting in recently. so I can't even try that okay you don't. need to track that because that's like. not touchable this is fine but it's just. spending money it's if I really need to. do it so for instance with lashes I'm in. a studio right now but I'm trying to. move out of the studio so that's been my. money to spend on last. stuff to move out on my own is it a. business account.

literally just account that's not my. main so I'm not swiping I'm not like if. you're gonna do things for business. because you can write off a lot of that. stuff from your taxes we want to do that. in like a business account if I'm. understanding can I just review that. later. how does that work I can't just be like. I use this for my business and you again. you'll meet with the tax person but yes. you should be able to write off some of. the stuff but it's so much easier okay. so much easier and less expensive for. you yeah if you just keep everything. separate and the cash app stuff like. it's almost like an emergency fund slash.

business slash confusion. so the story behind that is um someone. was very appreciative of me and they. have money so they gave me money to put. a down payment on apartment which I'm. still using that for but I'm because I. don't want to touch that like for. instance I use like three for. applications or something I want to pay. myself back I put 800 in it. but that I use I didn't want to touch my. check money or the money I'm getting so. I used that money to put towards my. lashes the Thousand is still there but I.

just keep it separate in my brain I need. to compartmentalize I don't need to keep. seeing that in my bank account do you. work for someone for those lashes or is. this an independence yeah that's like a. business I won't be shouting out because. oh. either way. oh one of those 530 makes me nervous in. there is because. well we'll get to it but let's let's. start we already have deaths we're. trying to get paid off how much money do. you have saved up on the side what is. like saved up on the side.

it's like 160 if anything one thousand. so literally 160 okay so you have 160. dollars saved up and we have a we have. many multiple debt accounts immediately. we're going to Ulta and share. uh La Madeleine amount La Madeleine and. Starbucks and Fingerhut payment and. apple food and I said that last time. food is a I don't cook I'm not gonna buy. groceries if I'm gonna eat out that. doesn't well what no of course you. wouldn't buy groceries if you're gonna. eat out but why not eat out or why not.

stop eating out and do groceries half. the time with me honestly if I don't. make lunch I gotta go get lunch so I. typically get lunch every day because. I'm right in that Lakeline shopping. center why do you have to get lunch. every single day what do you mean you. pack a sandwich. yeah I don't I have not done that. sometimes I do I get and I'm not. sometimes I do and sometimes I don't. right now I don't want to so why would I. do that it's not about want do you okay. okay okay do you prefer uh being in debt. for the rest of your life and not having. an emergency fund or do you prefer. getting lunch. out I will tell you the way again I see.

things I am so. money is just not much of a stressor for. me right now and not saying it won't. ever be again but I am comfortable and I. know that I can get food and be fine. I know that I can go to lunch sometimes. before it was just me swiping because I. was hungry and I was like maybe this is. a one extent again because there was. five dollars in there you wouldn't have. been able to get lunch during this time. and guess what because you go to Amazon. and Starbucks and venmo and out money. that we don't even know where that went. and Starbucks and McDonald's guess what. here it is a thousand dollars withdrawal.

that you requested what to withdraw was. rejected was rejected you tried to. withdraw a thousand dollars but it was. rejected so you're like okay there's no. financials because I can always go get. lunch well there's five dollars in there. so a purchase would have been rejected. you tried to pull out a thousand dollars. that would have been rejected. the only time I would ever do that is. whenever I got gifted that thousand I. must have done something wrong or I. maybe moved to the cash shop already. maybe tried to move it somewhere else. but it was gone but I have the Thousand. it just got rejected from whatever. situation spoilers you do it again. within this statement though.

it's the same thing for the same amount. of money that I still have. what it's the thousand dollars that I. have in cash up right now. I don't know what I did I cannot tell. you how I got rejected twice but I'm. telling you it's that same amount of. money I would never I have no reason to. ever even move that much money ever. selling cash shopping cash shopping KFC. and it makes sense with what you. described for sending that money to cash. that because it was 728 and it's sitting. there for the last thing okay. um I wish I had more insights into that. but whatever a lot of stuff is random.

just move me I got leagues. I know what that is exactly I wanted a. wig so I got one oh okay Genesis card. payment Capital One card payment Jesse. paquette's my boss. so sometimes if I buy things with record. or something pay myself back or show. whatever anything you see from her is. like transactional. oh yeah okay uh and cash flapping out. more money again and we're not able to. track that and there's the love me hair. again and the Chick-fil-A after pay.

we're financing purchases because again. I could just go get a lunch and I don't. have to worry about it but guess what we. have to after pay Finance purchases. okay yeah. folio Bay thing bar Partners bar. Partners there's another bar another bar. apartments.com we're paying them 30. application selling money out okay pedal. card payment.

some another payment thing another. payment to another card cash app and. money out it's all Starbucks Starbucks. Capital One card payment withdraw for 35. dollars was rejected. and see a little different purchases if. we're getting rejected for 35 of. withdraw and we're ending with five. dollars in the checking account do we. really just be able to go get lunch. whenever we want to go get lunch I don't. think so it it doesn't work like that so.

regardless of the perception on money do. we at least understand the real world. situation there are three instances four. instances with a thousand dollars that. are showing that no you cannot just go. get lunch whenever you want. I mean I hear you I'm not saying I don't. I am just comfortable now and if it's. not in there it's in another one. I know where I honestly sometimes if I. have my cards with me again super. irresponsible whatever.

ones in my pocket is the one that I use. I can always move money between whatever. accounts easily so I don't worry about. it if it got rejected it wasn't in that. one it was another one that's just the. way it works in my brain I said you have. a 2828 savings doesn't that scare you. your boss. gets ran over someday boom she can't pay. the extra thousand dollars a month and. for some reason you lose your job hope. it doesn't happen but the economy slows. down you lose your job what do we do. with 128 I make it work like I've always. done you're always done in the past. remember when we're done in that first. situation which is going into more and.

more credit card debt now I know you. were paying for the things with money. you didn't have so you're just really. pushing it off till another date plus. interest to punish you yeah so it's not. just making it work like you always have. someone else is paying for it and then. you're owing them back plus 30 percent. um. I hear you I'm not saying you're wrong I. agree with everything you're saying. I just don't seem to be willing to admit. there's like a problem no I'm not saying. I'm progress is being made that problem. is the problem regardless I'm getting. better with it the problem of going and.

spending so much money on this food. instead of packing a freaking sandwich. which is so much cheaper in grocery. shopping which is so much cheaper. in paying down the debt and save enough. for an emergency funds so that you can. get to a point where you're spending the. money going out to eat and it doesn't. even matter because it's well within the. 30 of your income that can be spent on. fun in both mm-hmm. disagree yeah I agree do no I'm not. disagreeing sorry I agree again so we're.

stopping we're not eating out for lunch. we're packing lunch every single day I. mean probably not then what what's the. point you agree with it there would. Sound Logic what is in opposition to. that let me tell you finances have not. been a happy thing for me if I am. comfortable and I am able to do things. that make me happy regardless if my. account says 510 in it I would like to. keep doing those things I can do better. some months and not go out every single. day or not get started I get a lot of. Starbucks it's like literally walking. distance to my job it's a hazard that's. all um but. why not turn finances into it finances.

have not been a happy thing throughout. your life why not make your finances get. to a point where they're happy for the. remainder of your life no matter what. happens isn't that more important than. short-term happiness overall 100 yeah. then again why won't you just stop. because I do stupid in the moment. why what what can what can stop you from. that do you seek mental health health. therapy therapy yeah I'm doing that now. therapy is great tonight is great I tell. everyone they should do therapy yeah no. I could is this something you've been.

brought have you brought up no. this might be something that is worth. talking about yeah the the the past with. your money potential trauma surrounding. that yeah and wanting to be set up right. for the future but we can't get to a. place where we're set up right for the. future if all our monies go into. short-term enjoyment instead of actually. paying down the bad debts you're making. minimal monthly payments I'm happy with. that we can celebrate that I think.

there's lots of missed payments last. time no yeah there was a lot so that's. boom great green flag there yeah but we. are still struggling. deeply to actually get fully out of the. debt. of which there are many many many many. many accounts occurring hundreds and. hundreds of dollars of interest on a. monthly basis that you're just losing. being you're working a full you're. working a week and a half by the way of. your second job. your care job um.

week and a half is all that money. even before taxes all that money is a. hundred percent stolen from you just to. pay for interest. on the debts you already have. so we went to Starbucks again because we. don't care about paying off that debt. okay what's that. yes. okay let's go okay we have a shock I. remember this was a thing the interest. on that is such a fun yes 31.24 percent.

I'm gonna be surprised if it goes up a. little more from there but. what's making me happy on these and if. there's anything to celebrate I mean we. may as well take it but you're not. spending money on it you made forty four. dollars. good did you close it no they closed me. yeah. all right actually I'm pretty sure that. one's close. well either way yep New Balance. 351.46 interest is still crewing on it. there's a minimum monthly payment of. what you are making now it's 29 uh yeah.

so maybe you paid a little above them I. was about to say do plus 15 I think okay. very cool. um and. 9.87 cents of Interest which doesn't. sound like a lot but this is one account. out of like a billion but but you did. not spend money which is like my least. favorite thing in the world. so thank you thank you for not making me. happy. and we're to the Target. she's a love-hate relationship it's very.

hard I would be hating that relationship. with 27 interest but again we did not. make purchases there was a current there. was a balance of 237. 97 of payments that's awesome with a. minimum payment of 30 you're clearly. making extra so there is a. New Balance of 144. on that track you. would be paying it off within one and a. half months. that's great minimum monthly payment of. 30. it's good to track what our monthly. payments are and four dollars and 11.

cents of Interest was accrued. to the next. Genesis. she haunts me. did we talk about refinancing all these. into one thing last time the interest. rates under control maybe probably. um I'm scared to do that I don't know if. we have to do that now it may have made. sense at the time but we'll see yeah. let's get the full situation. the previous balance three nine. oh sorry 934 payments credits 35.

interest charge oh my goodness. 25 interest but yeah because this one. has a much higher balance at currently. 919.9 cents. oh and with that previous bounce your. interest charged of. 19.77 yeah and this one it's we we just. made the minimum monthly payment of 35. ew really yeah and total interest. charges 23.3 am I gonna get I'm not.

gonna get angry with you with this. because this is something you already. got into we've all made mistakes in the. past you know we're not gonna just get. angry about the past you get judged for. what you're doing now not what you did. five years ago despite what some people. think and I actually paid that one down. and then I had to use it so. what you use. Dental. you had to use it for dental well that's. for dental I'm not angry that something. Dental came up yeah you should have had. a somewhat of an emergency fund again.

to deal with it usually I try to give. people like one to two months nine. hundred dollars. yeah we would have had 900 set aside. that's crazy what I mean there'll be. goals I guess savings-wise but to have. that nine hundred dollars you have to. just throw to anything yeah that's like. an insane concept honestly. that scares me that's scary we need it. three times we need to change your. mindset and change we will never be able. to change the history you've come from.

and the conversation with the money but. you can change what it looks like in the. future. having 900 set aside. it should probably be closer to fifteen. thousand it should probably way more. than that well and then more invested. but just set aside for emergencies so. One Main Financial it's in my sister's. name but I paid off because she gave it. to me nope uh-huh it's in my sister's. name but I put money on it because she. gave me money. [Music].

that's I needed it at the time it worked. out I know yeah it's just stupid. that's nothing that should never happen. she took out debt free instead of just. let. he's only 54.79 on here left this is. like something we could kill with the. minimum monthly payment is 54. what oh. that's the that's not an amount do okay. oh I read this totally wrong earlier.

I was like real excited aren't you I was. confused but yeah 180 oh okay. with six with. 64 minimum monthly payments 64.93 dude. laughs. interest eleven dollars essentially. was a crude. what are you dancing at the interest. what I'd just be dancing I don't know.

sorry okay I just want to make sure. you're taking it seriously I am. this is my serious Credit One we know. they're evil we know they are basically. evil I don't think I have that one. anymore 441 no payments but fees charge. of thirty dollars just to have it with. interest charge of ten dollars. uh. uh past due 30 okay so we're not making. all payments no come on. you just got with a thirty dollar fee.

when does that do what the does that say. the fourth I don't know when it's. doesn't say the fourth right there it's. upside down that one. yes okay. um. this come on I was celebrating new games. you still should be what do you mean if. someone misses a payment I'm not going. to be celebrating I missed so many last. time yeah and still missing any. minimum monthly payment. um well it's normally thirty dollars uh. yeah it's normally.

I think you're two payments behind your. two payments behind it's normally thirty. dollars but you owe ninety I have. autopay on all of them I need to. probably put that one on too this one. definitely needs to be on autopay with. fees interest blah blah interest is. 10.49 for 30 fees stupid fees total fees. in 2023 because you missed two payments. 60 total interest in 2023 42 with a 30. interest rate 29 actually but whatever. this will be 30. 29.48 interest rate on. Capital One. please okay you made a payment thank you. I can get back to low blood pressure.

260.76 again you made a 35 payment grade. that's the minimum monthly payment is 25. so an extra 10. with six dollars 91 cents of Interest. okay and and purchases which I will. celebrate that no matter what. oh Alta oh. that's my girl yeah you give her a lot. of money and you're now you're giving. the stupid bank money with interest of. eleven dollars and fifteen cents of.

Interest so the minimum monthly payment. thirty seven dollars total balance due. 387. eighty seven dollars and four cents you. paid a hundred good I was gonna say I. try to pay it back as soon as I spend it. there. isn't you're losing to 11.50 what. I need something if I'm not getting the. points.

a month because you're not fully painted. off why add to the balance ever because. this is how they get you and it works on. most people and worked on me so everyone. say it with me. you're not a credit card person it's. okay that you're not do you know what. that means that I don't use them. correctly is that you you suck at them. you suck all the app that down. you're terrible at them they're getting. money from you you're not getting any. benefit from them stop being around with. it you use your checking account and you.

can use I can hook you up with the Fizz. card again geared towards college. students but it helps build credit but. guess what it's not a traditional credit. card it helps balance your spending in. certain categories that's good that's. what you need you are not a correct. person it's a Fizz card it's a card I. it's a partner I partner with they're in. a description I'll help you with them. but this is you need to stop with credit. cards chop them up seriously chop them. up what what you're saying I don't know. because I'm not laughing it's just I.

mean I literally am laughing but I'm not. it's not funny I'm sorry. what were we gonna say. it's not funny I mean I'm aware of the. situation it's just no no I said chop. them up oh I've done that before and you. just reorder them everything is online. it doesn't matter if it's tempting it's. already there close them close yes what. was that isn't that bad to close them. while you're. I don't give a [ __ ] about your credit. your credit doesn't matter your credit. what what would the eyes my credit score. doesn't matter no because you are losing.

the game you're paying everyone endless. interest and you are still spending more. money sometimes you're losing the game. the whole point of having good credit so. you can take advantage of Cadet in order. to do like good deals on like things. like real estate or get a real interest. rate on a car and then invest the rest. but you're not taking advantage of this. you're not taking advantage of this as. many ways it's taking advantage of you. it makes no sense for credit to be used. in your situation and worry about the. credit score again that's why you'll use. the thing that I talked about but. it doesn't matter it doesn't it doesn't. matter you won't close them will you no.

because I'm scared my scores regardless. of what I know you said. I know you said it doesn't matter but it. matters for a lot of regardless what a. lot of stuff when I try to again when I. got my car my freaking. watch my face wouldn't be so high if I. had a better credit but if you listen to. me about what to actually do financially. you wouldn't be borrowing to get a car. if you follow what we actually talk. about and get to a good place I will not. put you in a position where you just.

can't get a car no matter what we don't. do that. that's beyond risky you may as well have. the risk of credit cards at that point. if the risk was greater to not have them. but my plan doesn't talk what doesn't. put you in that kind of vulnerable. position. you're taking bits and pieces and. thinking that well if you follow this. part of the plan then you're right if. you follow just one part and not the. rest then yes that specific thing could. [ __ ] you. but if you follow this kind of pattern.

emerges fund that's not something you. have to worry about but you think heavy. 900 is a lot and unreasonable to have on. the side not unreasonable. 656 dollars is what's ah. that is the balance you paid 70 good. minimum payment 25 I am happy to see. these extra payments this is good new. interest this isn't good but whatever. 14.73. okay now we move to the accounts that I. have on here because they were image. files. oh.

girl we got my throat hurting. Ed Financial oh those are just loans I. put on there there's school loans stuff. yeah just loans. [Music]. are there so there's student loans yeah. I don't think are they currently. accruing interests they shouldn't be. they shouldn't be their own deferral. because all that that's happening. nobody's paying hey this is the only. group oh wait there's probably multiple. pictures. okay.

okay but I don't think I paid anything. on those to be honest because I couldn't. at the time so interest rates. for a minute five percent's the highest. I am happy to see that all right let's. calculate. okay so you have 16. 000. 880 student loans per degree did not get. correct yeah no where'd you go that was. a community college in Mars Maryland. yeah I was gonna say if you went to ACC. it's so easy to catch well it's so cheap. compared to this most of them are like. five percent yeah.

constantly going because I thought I had. to go blah blah blah. you guess your minimum monthly payments. is gonna be like 150 from student loans. resume soon. oh this is your pay okay good. what's this this is a synchrony Amazon. card. oh that's paid off with something on. there I don't think. okay all right all right little. celebration okay is Fingerhut Advantage. also paid off. was.

the look I'm not I do okay sometimes and. things happen everyone shits yeah and. then. I'm just telling you what happens and. there that is so. what's it it doesn't make it everyone. say it with me. that's fine I hear you but so get rid of. it you have to use it I understand that. I do okay so just like the eating out. for food you understand it but you're. not willing to change it I don't want to. honestly what's the point of because the. small things that I enjoy that makes me.

happy that I can finally record I. understand what you're doing do it in. the future when you're saying why would. I want to be depressed this whole time. when I can just slowly make progress. it's not as fast as it could be so you. make progress because you can be uh. because you can you know enjoy these. little extra things to happiness extend. this out 20 years have absolutely no. retirement safe though by the time. you're in your mid 40s and have to. pretty much contribute everything until. for the next couple decades but you've. lost the next the last 25 years of best. compound growth then you'll never be. able to retire because you won't have. enough saves and you'll be dying on the. Walmart floor how about that.

to get the jobs good paying jobs like. you're in right now it's difficult yeah. unless you somehow maintain this for the. next 40 years which people don't really. do with jobs anymore so you're setting. yourself up for failure just because you. can have a little extra bit of enjoyment. now or this depressive thing that you. could have for a few for a what a year. two years to get out of this. stop first of all it's not depression.

you're just not getting what you you're. just not getting what you want. it's gonna be like a spoiled little baby. because you're not getting what you want. and then we're throwing a temper tantrum. right. [Music]. okay. what hey guys it's it's a lot deeper. than I'm not going to get into all that. but um. are you sure you can afford things to. make myself happy and focus on myself. and that's what I like to do can you. afford them yes yeah even though again.

I'm not doing it as perfectly as I could. or making sure everything's pay off. whatever which I is the point of this. I'm aware what's your definition of. afford. not even afford I am comfortable and. before it would stress me out to. literally do everything anything all the. time and I was worried about everybody. and not just myself you're right I'll do. not afford it so you're right I'm glad. you took back that word no yeah no. because you don't have an emergency fund. because you have a lot of debt to pay. off in because interest rates are. growing because if you have to spend. something and something comes up you. have to use the stupid Dental learner to. take care of it because you had to use.

this stupid card in order to take care. of a purchase because you didn't have. many money anywhere else. so no you cannot afford it. by definition mm-hmm. and just recruit on this card it's like. what's the new balance on this card. because it's not reflected here he said. huh 240 something. why there's no what did you spend I. don't want to say no I bought a bag. yeah that's important to survive you. have Noob bad no I know it's not but I.

wanted to so I did a 13 minimum monthly. payment most likely. losing stupid interest I think that's it. I think that's it the other thing you. sent me was your schedule your schedule. is full which I love to see here's oh it. was an accident I guess. that's okay. but this is what we're looking at the. crazy thing is that that is like 6500. approaching or 5 500 approaching six. thousand it's actually not crazy and. that's why I say temporary sacrifice.

you'll literally be out of this in a few. months with your new income if you. actually listen to me and stop [ __ ]. around. but your minimal monthly payments are. 348.92 interest accruent on a monthly. basis. 164.66 that's it the bills that you're. that's and what are you talking about. that's it are you reading when you're. reading as like a total or what yeah. it's a total. first time. yeah you've made progress but barely. bills uh because the rent Situation's a.

little questionable right now they're. pretty minimal you went out to eat 460. dollars. that's not right I don't know where I. was supposed to go but if it says food. it's probably not food that's what it is. that's well like total yeah. oh my God that's crazy yes it is oh okay. because you don't budget do you no why. don't you replace it huh roughly but not. like you didn't even know how much. you're eating out. you don't even know how much was eating. out roughly there's no roughly roughly. roughly roughly it's not written down at.

all no I just usually am like I should. not because I did this twice already. this week type of thing. and then cash app and now you can't. shout out to yourself 728 100 200 100. crap crap crap I'm selling out to. Max 121 dollars that was needed okay. some of my things got shipped to another. state it shouldn't have been there so I. had to pay to get them back so what the. [ __ ]. what do you mean.

well in this conversation what is the. budget and spin better yeah it's been. better but if I actually put together a. budget for you will you follow it if I. put together for a plan for you to get. out of this in like six months to a year. so that the rest of your life is. incredible will you follow it is there. even a point to the rest of this. conversation yes there's always a point. what do you mean there's always a point. there's always a point. what is the point it's the whole plan I. didn't have before regard when you. talked last time but I am telling you. how I say this made me happy.

I don't know how to explain it but. mental for me can go up and down if I. not to say I'm just gonna be spending. recklessly. but if I want to get Starbucks sometimes. I'm probably gonna keep getting. Starbucks but I just need to budget it. better but it's not gonna not happen I'm. gonna be completely 100 not gonna not. happen why are you not willing to. sacrifice anything in your life anything. in your life the better I said it could. be less but it's not Zero by Starbucks. of all things then you're not willing to. sacrifice anything. uh if you're not willing to sacrifice a.

cup of coffee that's not even that good. okay but you said you're not willing to. stop that. should I make a budget yeah go ahead yes. all right minimum monthly payments on. debt we have. [Music]. 348.92 what's your rent situation. currently. this month none okay I have some like. dog sitting whole situation um I don't. have to pay anything because I'll be. staying at her house while she's gone. um it will be 600 next month 600. yeah. what's that situation.

just a room renting a room not in a room. like a house with other people or. something yeah yeah okay. good that's an affordable run uh. we didn't get into your stupid car day. you didn't send me a statement did I not. no do you want me to look it up yeah yes. okay well this this doubles your minimum. monthly debt payments yep. so you have minimum payments. on your car of 389 72 cents so your.

minimum debt payments are now 738.65. 389 that's what they say the that's the. minimum or is it the weight something I. think I may have paid extra or something. that's too low is that monthly is that. bi-weekly that's monthly okay well. that's your minimum maybe you do put. extra to it. okay that's what it says Zone. 389.72 okay. with what is the car again. what type of car Chevy Equinox 2013.

yeah. you should have sold it when the car. market was high and now you're. drastically underwater on it with an. outstanding balance of 17 000. so yeah. just now 36 39. it's been over a year. but you didn't listen to that last time. why do I think you're gonna listen to. things this time. serious. uh I I don't know what to tell you I can. only do it so much and then things just. get you know good time passes and then. here we are what what's your what's your.

stupid car insurance on this stupid debt. oh I forgot about that um. let me check. [Music]. she do soon it's ridiculous it's like. through something see I don't know so my. last one was 284 I normally paid 329. 329. okay how much do you spend on gas. on a monthly basis do you think that's. all right look good look that one was. higher but the other ones were less I. don't pay for my gas. thank God very good okay it looks like. yeah well it's okay it averages up to. like 280 280Z here so it just looks like.

it's a little weird Okay so 280. sometimes it's more sometimes less. [Music]. you don't pay for good. what's your health care situation is it. through work 150 a month you pay for it. yeah. outside of work yep. and you've started therapy. no I have a psychologist I need to start. therapy. okay you'll start therapy yeah I need to. I'm gonna put in. 400 bucks a month for that.

because your health insurance sounds. like it's not great. so therapy can be kind of expensive. it could be a couple hundred bucks a sec. Jesus 150. it depends that's why there's. other there's there's resources check. out the resources yeah check out the. resources there's a lot of resources. check out Austin resources and stuff but. okay. that uh rent utilities and everything. you're probably gonna pay total rent and. everything up to like 700. internet and all that good stuff phone. bill no I don't pay that okay who does.

my dad okay. will you do that forever. he's playing right now but we'll see how. long that goes. yeah what else outside of food are your. ongoing minimum monthly payments. um. I mean I think we've covered mostly. everything besides like just regular. things they need for like household. stuff okay food congratulations you're. going on the Caleb Hammer Financial diet. three hundred dollars is spent on.

groceries on a monthly basis. 300 spana groceries and you pack your. freaking lunch like an adult. okay. toilet paper money also known as. whatever keeps your house in order. whether that be makeup or whatever keeps. your house in order 100 a month nothing. more. that's reasonable it is and so it's the. 300 on food. stop being.

yep so the minimum in order for you to. survive and this is this is with the. therapy which I highly recommend it's. about 2668 without or with resources. provided making it cheaper could be a. little cheaper hopefully it's cheaper. we'll see. yeah currently you bring in four. thousand dollars a month so your needs. category what. this isn't good good this is not good. see you have a bad perception of money. and that extra thousand dollars isn't.

even saving up for taxes so really bring. an extra 3 750. so you bring in an extra. three you bring in three thousand seven. hundred fifty. so 71 of your income goes to needs it. should never be higher than 50 percent. so no it is not good. that is bad but if you follow this. strict strict strict budget temporarily. what do we have left three thousand. seven hundred fifty dollars a month. after spending two thousand six hundred.

sixty eight dollars a month we have a. thousand dollars left. so with a thousand dollars. we pay off. [Music]. we're just gonna go largest to smallest. for you. we'll see how long this takes to pay off. okay all the credit cards not including. the student loans let's see how long. this will take to pay off that might. determine whether or not we refinance. the shell owns the highest interest. isn't it. three thousand four hundred and forty.

seven so no I don't think we refinance. guess what with your extra thousand. dollars you throw them at the smallest. the biggest first you pay them off you. can pay off like four of these cards. almost within your first month of just. following this budget book. congratulations three and a half months. three and a half months you have no more. credit card debt. three and a half months if you follow. just what I say can you not eat it out. for three and a half months so that the. rest of your life is better I would say. yes. or go on like a bunch of dates and have. people pay for your food.

or friends I don't even care. like don't milk off of people but oh. yeah yeah I would love to do this but. I'm trying to pay off debt right now so. I can have a good rest of my life. so you know that's the situation. either way what you should actually do. okay so in order if you use somebody you. need two thousand six hundred what I. would do for two and a half months. put a thousand dollars away on the side. don't touch it two and a half months you. have two thousand. 668 dollars it's what you need to.

survive for a month so that's set aside. just in case an emergency happens then. from there you start the three and a. half months okay. that makes sense so that's six months. from now six months from now you have a. one month emergency fund and all your. credit cards are done that's incredible. a one month emergency fund something you. haven't even come close to in your life. this is huge no this is really good yeah. that's something that you could. celebrate you know I'll buy you a bunch. of drinks if you want I don't even care. I'll just like I'll buy everyone drinks.

Brandon gets a drink you get a drink. lots of the other uh people on the show. get a drink we all celebrate okay well. we can't celebrate if you don't do it. either way okay so. at that point. that's that situation. the student loans I would minimum. monthly payment for 150 until they're. paid off because they're five percent. yeah they're the three to five percent. so I'm doing minimum monthly payments. until they're paid off. if you want to and this is strictly a.

want after your car is done you can pay. off some of the higher interest ones. quicker if you want if you're just in. because you've just been going at this. for months and you're just in the groove. of just paying off the debt then go for. it I don't think you necessarily have to. but this car which is that what percent. interest. we didn't even get that that wasn't on. there me it probably was we just didn't. get it um. also your debt payments we didn't. calculate the student loans into it it's. actually gonna be like 900 monthly.

payments so this does decrease it so. let's say seven months okay seven months. one month of merchants fund and all the. credit cards are done I remember it. being disgusting yeah. which it is not on here they probably. want to hide it from you that's crazy. well I mean not crazy if they want to. hide it it's not visible. um yeah. because they're like 20 I want to say. something higher yeah I think it's. higher it was like 25 percent. either way at this point because those.

minimum monthly payments are no longer. there we have about a thousand two. hundred fifty dollars left. on a monthly basis on extra because. you're still finding the strict budget. after seven months. this is where I think you're going to. fall off the path because six months. seems very reasonable. but. you put all the extra money towards your. car that takes 14 months. and that's where I think you're just. like man I need to live right now man I. need to just have fun right now and get. Starbucks man I'm not gonna just try to.

get rid of a 25 interest rate that will. never beat the S P 500 am I assuming. correctly probably and what the [ __ ] is. the point it's 25 25. nothing even matters at that point. that's just being stupid. objectively stupid. in that situation choosing what what. that's objective stupidity if we are. choosing to just allow 25 interest to. just get accrue forever instead of.

sacrificing for total at this point. hmm one year 11 months. and of no going out no or just following. the budget right following the budget. which is no going out other people can. pay for things but in one year and 11 a. month you're in a situation you've never. been in your life there's no more of the. money trauma inviting you in the because. of the debts you have. there's still the paths that exists. but you're getting out of your own.

you are then able to save for a fully in. front of emergency fund something I. think if I remember right your family. has never had ever you'll be the first. one to have an emergency fund it's. incredible. only for the sacrifice of two years and. then saving up for an emergency fund so. yes it will be probably two and a half. years at that point because you need to. have an emergency fund but then that's. it then you can literally spend 30 of. your income. on Starbucks and guess what that's more. money than you're spending now because. right now you're putting so much to your.

minimum monthly payment debts. you get to have more fun and live a. better life with a temporary sacrifice. two and a half years seems like a lot. and it is if you work tomorrow you could. bring it down you already work a lot so. yeah it'll be difficult yeah but if you. find any extra hours to like ubereats or. something I know you did that before if. you find I know okay if you find any. extra time though you can minimize this. from two and a half years to two years. you increase your income get raises. things like that negotiate for our. higher income than the extra you know 20.

an hour your assistant maybe you do 25. come on inflation's the thing give me a. cost of living adjustment you know. well if you don't like it then uh. prioritize that time somewhere else. where you get more than twenty dollars. an hour yeah. so there's a lot that can be done here. yep but the sacrifice is what's going to. get you there are you going to sacrifice. yes. you're not going to go to Starbucks for. two and a half years. for you paying for it.

it's an example it's. I'm gonna be honest it's not gonna be. 100 of not doing anything ever it's just. not but it I can do way less I can. budget like I'm supposed to okay if you. don't do this 100 what I tend to find in. the math is you're going to take this. from two and a half years to about ten. years. went crazy and paying all this off you. had you start half. and doing things with the way interest. works this will just this will take. forever.

I'm gonna go from two and a half years. to like seven years to ten years. then you'll be in your mid-30s no. emergency fund nothing safe for. retirement I can't like budget. bending into things why how. much do you spend how much do you spend. on Starbucks. and you go to Starbucks. four dollars fifty cents. seven seven dollars when you go to. Starbucks it depends on what I get it. five dollars to get I just get tea five. dollars. five dollars work with me five dollars.

five dollars. five dollars between five and seven. five dollars. [Music]. five dollars just work with me two five. dollars five is what I'm given 108 108 a. month. put towards that was that every day. that's uh five days a week. okay and yeah that's five days a week. yeah. five dollars five dollars a week is that.

you know that probably makes this become. because a hundred that's ten percent of. the money that you're putting towards. the debt maybe that's extends the. process to three years three and a half. years I'm not exactly sure the math on. the top of my head but. either way it's going to extend the. process of you not spending on other. things still but we're allowing the. Starbucks if that's what it takes for. you to have a better life even if it's a. year longer it's worth it but are you. willing to wait next year of not having. fun that costs some money outside of. just Starbucks you know okay so what.

what are we doing why don't you I'm. being honest right I'm just. no temporary temporarily sacrificed. instead of half and extending the. process where you can't have a full life. sacrifice now dude since the time we. talked because my first upload was in. June so that means we recorded this. month last year oh wow this month last. year it's been a year that's how quick a. year goes by in your life could be done.

in two and a half of those. not not done I don't know your life will. be this could be done and your life will. be in an incredible position where no. one in your family has ever been as. generational change generational change. from Two and a Half. of the times since we last. filmed an episode. I don't know if you'll actually do it. but that's the reality of the situation. I'm very nervous we'll see why are you.

so nervous what the [ __ ] do you mean why. am I so nervous why do you think I'm so. nervous because you're still putting. money on cards I thought you weren't. you're missing a pairing on the card. you're not willing to cut back on you. now you're not willing to cut back and. go into Starbucks this is going to take. 10 15 years you're going to end up in. the same situation that was already. traumatic for you in the past because. people couldn't take care of things and. you always had to go into debt because. no one has any money in your family. because they've continued to live like. this that's why I'm nervous because you. will continue to be in that situation be. in a better situation you have that.

control but with everything you've given. me I don't have hope in that I want to. have hope what you've heard the. conversation what what is that face. you've heard the conversation what hope. should I have. I want to be hopeful I want to be. optimistic you've given me nothing to. work with nothing you don't think I'm. doing better at all you're doing better. but you're still missing payments you're. doing worse than anyone in the world. should ever be doing so going better. from like drowning in lava yeah you're.

doing better than that now you're just. drowning in water. you're still drowning. I heard you're not that okay okay any. final thoughts. no. progress is being made that'll help it. go faster but. I don't know I'm trying I'm still gonna. try it's hard but I'm it's probably. gonna be very on and off but it'll still. be better than where I'm at today when. we meet a year from now What's it gonna. look like. way better.

and What's it gonna look like tell me a. goal my debt's gonna be gone all the. debts honestly if the things go the way. I'm planning on goes with me doing. lashes and me branching off that's a big. like it's money that's a lot of money in. life just don't say oh because a lot of. people pay a lot oh they do but and I. don't want you to bet you're I'm not. betting on it I'm saying I am optimistic. that things would be. yes I agree but don't bet your entire. future I'm not I'm doing it like you.

said this is all gonna be gone because. of that because I believe it can be gone. um. I do. I believe way more could be gone now. again if I just stop doing all my other. which I am aware of. not [ __ ] student loans put my credit. card down still it's three it's like the. credit card debt comes out to what like. what did we get like 3500 that should be. gone in no less than three and a half. months after you have a one month. emergency yeah I was not so damn right.

it better be taken off by the time it's. you're here next year or I'll be. embarrassed for you and they should be. chopped up and close because your credit. score doesn't matter open a fist card I. don't care. are you gonna pay your taxes though no. yeah I'm not not doing it on purpose but. no I definitely yeah you need to no I. mean with an expert immediately yeah. anything else. nope. okay. for Tyshawn. I'm scared it's it's gonna be a really. hard forever if we continue down this.

path I really hope she takes care of. this stuff when I'm scared for her. Hammer Finance of course she gave. herself a 5 out of ten but let's break. down the categories. spending in a budget I mean it's. drastically overspending had five. dollars had money rejected from spending. zero out of ten. for debt and she's gonna have IRS debt. she's not paying this off and the debt's. like wrecked across one two three four. five six seven eight nine ten eleven. accounts with 30. the higher than 30. interest 0 out of ten retirement there's. nothing zero out of ten emergency fund.

there's nothing zero out of ten real. estate obviously we're not even in that. game not even close to out of ten Hammer. Financial score anchors down to a zero. out of ten hey you like. you sign up for acorns in the. description below with my link in. deposit five dollars you get a free five. dollars so that's awesome follow me on. Instagram and Twitter thank you Reddit. Bingo we were close take a look at it. there it is it's on screen we were close. to no cigar.