She's In Debt To Her Boyfriend For Survival | Financial Audit

um hi my name is Sienna Wareham I'm 25. years old based out of Austin Texas and. this is financial audit what do you do. for a living here in Austin. um I work as a bond underwriting. assistant for Markel oh okay how much do. you bring in on a yearly basis. um I don't know the yearly but I know I. make 23 an hour about 37 and a half a. week so 37 and a half yeah why is it not. right up to that 40. um I think they. were doing like a 40 hour work week but. then to kind of like um I guess I go was.

coveted or something they kind of went. down to 37 and a half as like the full. time it was like before I came in so. that's 25 an hour uh 23 an hour 23. interesting. do you how often do you take time off. um I try not to as much as I can. um but like you know days like today. like I did so but for the most part like. I'm there the full 37 and a half. that would be 44 850 a year if you.

didn't take any time off obviously. you're going to take time off what are. we thinking like 40 000 a year. um not that 32 000. yeah not that long. maybe like 42 43. I'm 42. okay. call 42 000 on a yearly basis pretty. cool okay uh for the Austin area you. know it's in a more expensive area I. think in majority places in Texas or. along the South 44 or you know whatever. would be fine but you know in Austin how.

do you feel living I'm 42. um well I. feel very like kind of fortunate just. because like right now like I live with. my boyfriend and he pays for the rent. and I take care of everything else so it. kind of you know don't you owe him money. though I do owe him money yes okay so. it's. so like but like our our relationship. agreements just kind of like he pays the. rent and then like that was like extra. money on top of it but interesting okay. okay so lots of boyfriend hope. yes okay how old is he. um he's 29. what does he do he's a law.

school student he's a student yeah but. he's paying for everything. um money from the fam um he's getting. money from his family that basically. kind of helps pay for the apartment but. like I said like everything else like I. pay for it if they want to do it that's. fine yeah it's a little interesting. because you're the one with the job but. he's paying for but okay go ahead and uh. give us a breakdown what's your. financial situation looking like today. give us a score zero out of ten. so on the score zero 10 just like right. now I think I would probably put myself.

at like a 1.52. um just because. um like I was doing pretty good about. like this time last year but then like I. had a series of like um events come up. and that kind of resulted in me using my. credit card a lot more than what I. normally would have been using and now. we're kind of at the point where like I. think everything has like settled down. out and now it's just a matter of like. picking everything back up so a lot of. like what I do is just like try to like. pay off my credit card the Discover like. as much as I can. um but as you can see it's not going on.

so well well yeah I'm gonna get on you. on that a little because you kind of did. like the stupidest thing you could do. when it comes to paying off a credit. card but we'll get to that and that was. kind of upsetting as I was looking. through everything but yeah. but we will just start with the checking. accounts then we'll look at the savings. and the retirement. the accounts exist yeah the numbers in. them barely exist but we will still look. at them and then we'll get into your. debts but let's just set a foundation. first started with 98 in a checking.

account assuming you have automatic. withdrawals and things that can be kind. of low yeah I don't have any. um automatic withdrawals on my Gate City. the only one that I have automatic is. the power bill which is on my Bank of. America okay and so that one as long as. I just keep you know 90 in there um I. know like that'll be fine. I thought ended with 557 1691 came in. 1232 out so let's let's actually uh take.

a step back for a second so if we do 42. and then we have taxes and you're. contributing to a 401k yeah so I just. got hired on at Mark cows like a. full-time employee. um so I just started the 401K there so. it's like existing like I've only. contributed money like for two pay. periods now what do you think you're. bringing in. um. like 2400 I think like about 2400 and. then split between the two Trucking. accounts yeah okay all right y'all we. got to talk about something important.

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continue to exploit and profit off your. private information or you can go to. aura.com forward slash Hammer so head. there and start your free two-week trial. or check out the link in the description. below a month or yeah that's a month not. paycheck yeah it's like 1200 a paycheck. okay. I'll bring you to 30 000 hours yeah. maybe uh what's your what's your 401k. contribution at right now. um so I have it set out to I think it's. three percent out of my paycheck goes. into the 401K and then I think the.

company also matches at three percent. I think that's how I had it set up. 2400 yeah we saw in the two accounts. together Twenty One Hundred come in. Okay so. that brings it even lower. so it's probably a market there. well I guess we're only going to go off. of what we have. 2100 huh. okay. so in here knowing that we have debt and.

stuff we're valuing out a lot of money. by the way yeah constantly venmo venmo. getting coffee some Regal Gateway and. Arby's and office the tried on and. buffalo wings. Halu Cosmetics Cosmetics expensive well. we're trying to get out of debt. inventing out a hundred dollars is. Daniel the boyfriend yep that's right. four hundred dollars sent to yeah that's.

like part of the money that I owe him so. yeah we'll get into that Total Wine Not. 100 necessary when we're trying to get. out of debt especially if we owe money. to our boyfriend. men were not a hundred dollars then. we're not fifty five dollars then we're. not 110 there's a lot of men moving out. money yeah so um I kind of have a. dispersonal trainer that um that I see. just like twice a week. um she kind of like helps with like um. trying to work out because I'm trying to. like in the past of losing weight so um. I was like seeing her when she lived.

here in Austin but then she moved out to. Chicago so now we just kind of do like. virtual appointments. physical health is so important that's. why I don't I don't bash anyone for. going to the gym even if it's kind of. constantly but that is adding up to so. much. ah but if that's what's working for you. I don't know we're just gonna we're. gonna have to take a look at end with. every we're gonna have to take a look at. the end with everything put together. gotcha before we get to that ending you. should hit subscribe though because. we're trying to get the 500 000. subscribers and we are very close.

okay so and then we have the Bank of. America where there are automatic. withdrawals yep started with 150 ending. with 240 1305 came in uh and then about. a thousand two hundred went out. in here Rick's Cleaners in Domino's. we're getting some pizza. selling out money because you weren't. already vettling out enough money then. so you sell that 40 then you sell that. 500 so we're just we're sending money to. a lot of different people by the way and.

we're paying off Bank of America correct. we're not paying off but we're putting. payments towards it and then we're again. selling out 65 why are we sending so. much money around venmo and zells so. um like the personal trainer she takes. um venmo so that's like the gate City. like all the that was a lot of money. okay yeah um so that's kind of what that. is. um and then my boyfriend needed um some. of the money that I owed him. um here pretty recently so that's why. some of the um the the zelle transfers. over to him are for that reason and then.

another thing is just like I try to keep. um like a little bit of money like each. of my accounts just because like I try. to like keep track of my head about how. much is on each of my cards and then if. they get like lower than a point then I. try to like spread the money out that. was just like it's a little bit more. like manageable for me in the sense of. like if I do like pick the wrong card um. if I'm like you know like a little bit. anxious at the checkout line and just to. grab the first card I know that I should. have enough to cover like whatever it is. I'm doing so a lot of those payments are. like to myself if it's like um like I.

said like two mean stuff so. um. now. you just started the the this retirement. account right or well what about the. savings let's start with the savings. what is the savings this isn't savings. yeah so um about this time last year um. I had about a thousand dollars in my. savings account or like 1200 actually. um but then like I said like earlier um. there's like a series of like events. that happened well okay what happened. um my grandmother had a health scare and. like at the time I was in Korea.

um and I was already planning on moving. here to Austin. um so I had that fight booked but then. um that scare kind of came in so I. wanted to go like see her before she. passed because I haven't seen her in a. few years so I had to like um change the. booking there from International like. everybody's got to book like two flights. um when they changed the airport from. Austin or to go from Austin to Idaho and. then get there and then it was also a. bunch of like spending money while I'm. there because that's like an unexpected. trip and so that's kind of where a lot. of the problems started and then they. came here and then my boyfriend and I.

both just moved here from he's from. Korea so and you um I'm from Montana. okay. um so we both like moved here with like. absolutely nothing. um all we had was the apartment so then. a lot more charges kind of came on of um. you know like uh getting stuff for the. apartment just because like the timing. of everything so that put a lot more. damage I don't have to if we didn't have. money. yeah it was just like the timing of it. because like he had paid his tuition and. then I'd already spent like a lot of my.

savings trying to pay off the credit. card debt from getting from Korea to. Idaho so then kind of like there wasn't. any money in um my checking account and. he didn't have any money available to. him just yet yeah so then we kind of. were using my credit cards um why if we. don't have the money to afford why are. we doing it though well because you. still need to like buy groceries and. stuff like that groceries yes you talked. about furniture let's put a mattress on. the ground called it good until we can. get things oh yeah they can pay for it. yeah and so that's kind of like what. we're trying to do like in the beginning. and stuff. and then it just kind of like spiraled.

um kind of from there as well as like. some other issues that happened. like what. um the job that I had when I first moved. to Austin was honestly just like. extremely stressful so there's a lot of. um. kind of like bad spending just because. like it was. um like mental health again. yeah because it was a remote job and. like I moved here with no friends so the. only reason for me to go outside was. shopping and so that kind of led to a. lot more purchases and now like I said. we have different job mental is a lot.

better and yeah now we're here so. okay okay well we gotta look elsewhere. for coping but either way because I mean. we're not in a place where if something. bad happened right now when we went back. to that we would just be going further. and further into that because we have no. savings this savings started at 62-26. ten dollars went out because you're. below the minimum savings yeah there's. like no there's no even point to have. having this I'd close this and put it.

somewhere else this is nothing I'll just. put this in the checking account this is. I mean the 65 well 59 now is going to. nothing so. what are we doing I mean have you been. seeing you're losing 10 a month. um yeah I just saw that because um the. bank that I used um they just increased. um the minimum account balance from. fifty dollars to a hundred. um a little bit ago and I hadn't um. gotten that notice because like this. bank is um up in North Dakota. um so I do like my the um I do uh like.

the email notifications and stuff like. that but I just said missed the one. where they had um increased it to 100 so. um that's kind of why it's going down. and like I was using it like about this. time last year before you know the the. stuff happened so. um like it was being used it's just I. had to use that to pay my credit card. but the most it's ever been was like. over just over a thousand yeah okay and. this retirement account sitting at 86. yeah so uh certainly uh nothing much.

there and that's in a Target return my. phone it looks like so I'm cool with. that now Robin Hood. that's pretty much yeah well it's kind. of funny it's gonna be like about this. is basically the same that you have in. your Robinhood versus retirement account. 77 bucks why are we in board Drilling. um I think that's just like one of the. ones I kind of like came up as like a uh. like a default one or something like. that maybe it was the free one you got. signing off.

um some of the other ones are good like. Microsoft well I don't know what tilray. is but Microsoft and visa and apple as. far as individual stocks go okay and. then you have some other ETFs which are. good but. we're drilling tilray brands. I would get on that more if we were. talking about like an overall balance of. a retirement performance it really isn't. a retirement portfolio uh 25 in another. Robin Hood maybe this is the Robin Hood. Ira yeah okay so. um the way that my job um kind of was.

like it was like a contract employee um. before it became like a full-time so. when I got hired on as like that. contract I started like these two. um accounts because I wanted to start. putting money away to save just like a. little bit. um because at the time I didn't have. like a 401k or anything and then I got I. become a full-time employee through. Markel and then I got access to um their. 401K so I started like contributing into. there and then I just haven't um closed. out of the Robin Hood one yet to put the. money in there. and this is just in some ETFs but again.

it's a split between a few so there I. mean that was the good section like. uh we're going in the painful section. now and I'm already a little nervous. because we have absolutely nothing saved. we're then moving out and selling out. money on things we cannot afford we're. going out to eat. and of course of this relationship we're. in which I mean you guys aren't married. there's no legal agreements as far as I. know well except for maybe this that uh. but either way.

you're not taking care of rent and it's. been taken care of by his parents that's. fine but you're taking care of. everything else but we're bringing a 2. 100 a month is what's hitting in our. account in a quite expensive city like. Austin Texas all of us go into all that. crap we're not paying off our credit. cards that's what we're about to go into. and we have nothing in savings so I'm. already feeling a bit nervous okay. hmm. the credit card this is the credit card. that you're trying to pay off as you.

said trying to pay off what does this. try to pay off because that's some. bullsh so I recently when I first got. the card I was actually able to pay it. off like every month. um because like this was my first credit. card um and at the time I didn't have. any credit so I was like able to. actually do it you know like every month. and then like I said when all that stuff. happened. um back in July then that's when they. kind of got more reliant on it and then. it's just been cut that downward spiral. well in that case you're clearly an auto. credit card person chop them up it.

doesn't make sense this is not your. emergency fund we make an emergency fund. but again what's the bull that a viewer. spewing to me earlier I'm paying I'm. trying to pay it off what is that bull. I said that yeah so that's just been me. um back in I want to say like it was. like in March when I got like the. confirmation that it was going to become. like a full-time employee I had um tried. to stop like using my card like as much. my credit card and then I was just using. my debit cards for a while there and. then.

um when it got to the point where. um because I was I was paid weekly when. I was a contract worker and then I. switched to bi-weekly as a full-time. employee so there was like a little bit. there where. um uh I needed to go to the grocery. store and stuff I didn't have enough. money to actually go to the grocery. store okay so the grocery store okay we. can talk about grocery store but that's. not what I'm talking about yeah paying. off okay starting with three thousand. two hundred twelve dollars paying off. 271 okay that's more than the minimum. monthly payment fantastic but you. purchase purchased a thousand six.

hundred eighty eight dollars on there. accruing interest of 91 bringing your. now total balance of four thousand seven. hundred twenty dollars on your Discover. card so what is the Bulls trying to pay. this off because guess what that is not. groceries that is not groceries. what is it. possible. it's also just like some some other. stuff. um yes but why say you're trying to pay. it off.

because like I am like trying no you're. not you're putting on. the month there you paid off 271 and. then you put 1 688 on that's not trying. to pay it off. right. no well okay. because I don't want to both sit here. we're not going to be able to overcome. anything do anything improve our. situation anyway whatsoever if we're. saying I'm trying to pay it off and then. I look at that.

right okay yeah no sorry. so okay again we're saying well I had to. do I had to do some groceries we're not. doing groceries look at all those lines. that's that's bull green lines. equals bold down here we're spending. money on some crap some crap it was 104. uh hytt and Taco Bell and some the way. they combine these words makes it. impossible to read but some manned doc.

document. um triangle lender what's that 60. triangle lender what's that ewc. um I go get wax and there was just like. a miscommunication on um well I I have. like the the wax pass so all I do. whenever I go there's pay tip and. there's just a miscommunication on like. but you pay for this pass yeah I've. already paid for the passive so I got. like the so get some wax boyfriend waxes. usually cannot afford to be doing all.

these extra things well like I I got in. the wax pass um when I came here last. year and I'm not planning on um getting. another one so once I finish like the. last um three of them then I'm gonna be. done okay and they're tipping good and. you're going to TLC which is a. restaurant and Troubadour Apartments. you're paying three dollars it's. something uh as a supermarket that's. clearly not a necessity Alamo Drafthouse. and Netflix Total Wine and More. CenturyLink Astound powered by Grande. yeah is that your utility yeah so why.

aren't we putting that on a credit card. if we're trying to pay it off. um so I just had um when I first like. had the uh the um. uh the CenturyLink um that one was just. like on my credit card um just because I. didn't have my debit card with me but. that's actually going to get um changed. because now it's in somebody else's name. um so I just need to get that um change. there and then. um I just need to like um also fix the. uh the Grande because that's also like. that's like the internet that we pay for. okay Apple subscription go into movie.

theaters Apple subscription mint mobile. that's a good way to save money I have a. link in the description I partnered with. them you can sign up and breaker would. skin you do you spent so much money on. the waxing and the skincare and. cosmetics and all this stuff skin care. was for a dermatologist appointment for. the moles I have oh okay well that's. fine I'm chilling there yeah there's. Apple Bill H M I assume you are okay on. clothes and it was not an emergency to. go to h m and buy clothes.

um it was an emergency in the sense of. when I went to. um Korea I didn't take all my clothes. with me and at the time I was working. remotely but now I have an in-office job. and I can't can't wear a lot of the. clothes I have in office because they. have like holes in them where they show. like too much Cleavers or stuff like. that well the soup Peddler certainly. wasn't necessary or go into the salon or. Merit triangle or going to the movie. theaters or going to the movie theaters. or having an ad-free Discovery program. or Taco Bell so all those.

clients with a utility thrown in there. and then the dermatologist was just. totally fine. all that was Bulls we're not trying to. pay for credit card we're not trying to. make progress you have money you owe. your boyfriend yet we're spending all. that money on that crap why are we going. to the crap I need to know the mentality. behind it so we can overcome it why are. we spending so much on bull. yeah so the eating out like only happens. if I um don't bring a lunch to work. bring a lunch to work I do like honestly. 95 of the time it's just that one like.

um five percent is like if I didn't. realize I went out of something like the. night before and it's too late to go to. the grocery store. um or if it's kind of one of the things. where. um it was part planning on my side and I. just didn't make something for lunch. then like I'll go out and eat but like. that doesn't happen. um all that often. um with this job all that often well. during like that all that often well. going out for lunch at work that doesn't. happen what's all the other boys. um and a lot of the other stuff is like.

if my boyfriend. um if neither one of us is like up for. cooking like where it's just like we're. both just sick okay well you're up for. cooking now yeah that's no longer a. thing you're trying to get a credit card. you're trying to pay your boyfriend back. boyfriend doesn't even having a job and. he gave you money that you have to pay. back. come on we are not going out to eat just. because oh we're tired we're not going. out to eats on the better side of this. there is another credit card. that I mean you spent money on it but. there is no balance again you are.

clearly not a credit card person because. on that other card you're trying to pay. it off. but you like what was it quadrupled we. could toppled the balance or uh versus. what you put towards it from what you. spent like this is terrible cut it up. put all your payments to the debit card. this doesn't make any sense I don't care. about your credit if you're ruining your. money and losing 91 a month in interest. which is only going to get worse because. the balance is going up but 56 dollars. we went to the grocery store and we got.

some gas that's totally fine I'm. chilling with that uh we have student. loans where'd you go to college. um the University of Hawaii at Hilo. sure that was expensive. no not really. um I think in total like out of state in. Hawaii not out of state so the western. states like the 13 Western States all. have like this agreement called The. wooby Exchange where if you're like a. resident like um the end of the 13 you.

can go to any other uh State College for. 150 of the in-state tuition. um so for me look at the time I'm not a. perfect way yeah yeah but it was ended. up um I wanted to go to Portland State. University but that was going to cost. like 50 60 000 but uh Hilo was only. going to be like 35 000. so I ended up. kind of um just going over there instead. someone subsidized someone's. unsubsidized you're at 32 245 student. loans are going to start up very very. soon it's going to be about a 400. minimum monthly payment I assume yeah.

Ariana traditional repayment plan or. your income based what were you before I. went to deferment. um so I've always been on deferment I. haven't actually yeah because you. graduated during that whole thing yeah I. got you in 2021. so interest is probably. gonna be anywhere from four to three to. six percent for the unsubsidized and. unsubsidized yeah I think it was like. five or six when I um first got them. like taken out from the first I did them. I think it's been some time six percent. yeah it's getting in that suck area oh.

not like death but sucks okay so. boyfriend what do we owe him and for. what. um so I think I now owe him 1800. um and that's pretty much just. um I had borrowed a little bit of money. um to pay on my credit card um with all. of the uh what is it um the. the purchase that we used when we first. came here. um because like we didn't like all have. a car and stuff so it was a lot of using.

my car to like get around where to get. this money from to give you to pay off. the card um I cannot share that I'm. sorry when did he get it. um he got it I want to say in August and. would you guys move here July. you guys couldn't wait a month to get. the stuff you were putting on your. credit card besides just the groceries. yeah max out the credit cards with. groceries no. it's also like he wanted some of the. stuff now so well good then he could. wait until he could pay for it if he. wanted it what.

he is South Korean uh yeah he's getting. very American with that I need it now. and so let me spend money I don't have. how much did you get from him at the. peak. um at the peak it was four thousand and. you've been paying it off since August. of last year yeah because for the. longest time he was telling me to not. pay him back because he wanted me to pay. off my credit card at the time which was. only about 2 000. um it's gotten worse.

well I did pay a little bit more so now. it's like at 30 3700 so it's a little. bit less. yeah but at the pace you're doing it you. went from well it was 2 000 so but then. we got to four thousand two hundred. no these need to be these need to be cut. up this cannot be a thing anymore. okay. are you doing a minimum monthly payment. or are you just paying it as you can do. or what and I don't do the amount of. payment I try to do between like um 200.

to. um 600 if I um feel like I'm able to. like afford that like call 400 then yeah. because like I know there's like there's. some times where like I'm not going out. as much like all the movies things that. was just me like um I hadn't gone in a. while and I was just like okay I don't. care well it's one of those where it's. like if I if I do it once then it kind. of just like goes into grouping and then. like there'll be just months where I. don't go out at all and then you don't. go out at all Peri period period.

so be as simple as that. so we're trying to put towards them okay. your car is fully paid for. um I use his car okay okay he bought the. car but he's do you need a car yeah to. go to work. um no no do you need a car or is this. situation working out that's where it's. working I don't need a car okay he works. from home or studies from home uh not. stays from home but we live close enough. to the um the law school that he just um. he bought a bike that he just takes to. um to school and back again just because.

it's easier and then I take the car to. work okay very good very good very good. very good. uh so you don't see needing to give your. car in your near future honestly no how. much longer for law school. um he just finished his first year so. he's got two more years and then he's. got to take the bar yeah and then in. that time then I'll probably will need a. car but that's kind of like. um. we we were still kind of like talking. about. um that situation because there's still.

a possibility that we might move from. Austin so why well at the end yeah once. he's done once he gets his job because. we can't guarantee he's going to find. you yeah yeah and so that's kind of why. it's been a little bit of a low priority. because it's like well I don't even know. if I'll need the car well we'll put you. up in a situation where if that comes up. it'll be fine. okay any other debts no that's pretty. much all of it that's it okay so. disgusting credit card debt and then. owing boyfriend and then student loans. which are very common so. let's see here your.

minimum monthly payments. for debt is 912 dollars. if we do the 400 a boyfriend. now he takes care of rent and you said I. take care of everything else so it's. everything else. um so I pay for the groceries. um okay I pay for the cell phone which. we talked earlier like the mobile thing. so I do that what's the cell phone. um that you take care of. so we I did the six month plan through.

mint mobile so I pay like the 200. something and then like one time and. then just wait for the six months and. then do it again I think it's like 2 30. and it's for both phones so that's like. for something yeah so 33 a month okay. um and then also pay for the internet. which is about 65 the power which is. about 90. um. and then. let's see the streaming services I.

personally have apple music which is. 5.99. um he does Amazon he's he does like the. Amazon yeah Discovery and stuff yeah. Discovery is like the seven whatever it. is like cancel that yeah it's not on the. budget anymore. uh Apple music. it's just one of those like for me it's. um like we get to listen to music and. podcasts and stuff like at work so it's. just kind of one of those like it's just. it's also just like YouTube but I mean.

yeah I was using the podcast and then. um actually like to while I was working. and then. um all right I'll put it in there six. bucks what else. um gas for the car do you pay for that. yeah how much well it's whoever. um puts it in how much do you put. um I fill up the tank so um I usually. pay about like between 35 and 40. um every about like every week and a. half two weeks-ish. okay we'll call it 80 a month.

we'll call it 90 a month. yeah okay anything else. uh I'm gonna say that's all of it. because. well he pays the conscience because the. card's like in his name is stuff so he. does all that no yeah um insurance he. does that. um because that's like part of like the. car insurance. so he takes care of that and then. does he so you take care of all the. groceries for both of you yeah okay. you're getting.

400 a month for food groceries for both. of you yeah that's actually about a. little bit less um sometimes toilet. paper all the extra stuff that you need. for the household giving you a hundred. okay. okay so minimal temperature in order to. survive 1 696 and now of course 200 of. that is extra that we're putting. to them in a monthly boyfriend payment. but that leaves you an extra. four hundred dollars you should have on.

a monthly basis. four hundred dollars. so this is what I need you to do because. relationships are not 100. forever you know at least when you're. married got some legal things but still. when you're dating. 400 a month. New York 30 something hours a week I. would love to see that extra because 400. a month is going to be slow. first of all the budget I laid out of. the debt cell phone interest electric.

Apple music. gas groceries and toilet paper money. that's it no money spent outside of that. from you he could do whatever he wants. he can pay for things I don't care that. is what you spend nothing else. [Music]. hmm. no we're bringing the we're doing 200. for the boyfriend. so we're actually dropping this down. from 700 1700 a month to live on to.

fifteen hundred dollars a month because. we're doing the 200 instead of the 400. meaning you have an extra six hundred. dollars now. for. two and a half months I'm putting that. 600 into a high yield savings account. not with your I hate that place. stupid and uh you're doing that for a. month and a half save up till you get. 1500 bucks. and then from there how like stressed is.

the boyfriend about the money. um getting back to him. it wasn't like all that stress before. but like he's not like super pressed. about it like right now but he did say. that he would like it sooner rather than. later would you rather you pay off the. credit card first. um that is like his preferred but I feel. like since like he's been waiting since. like August to try to also like get him. as soon as possible too okay then it. might be worth the conversation okay. here's the plan met with Caleb hammer on. financial audit.

here's the plan here's the budget that. I'm sticking to I'm not spending money. on both that I could be giving to you. instead but where the extra money is. going the extra 600 a month now is going. to be paying off my credit card and then. we'll pay you off and then see if he's. okay with that if he's not then we can. divert the plan a little we have about. four thousand dollars essentially of the. credit card debt so after the two and a. half months of you get your little. starter emergency fund we have just. about four thousand dollars because. interest is gonna accrue on the 37. that you have.

divide that by that lovely 600 it's. going to take up about six and a half. months to pay off so. we're now at nine months total. nine months total so anything you do to. increase your income by the way working. these side hustles I don't care whether. it be ubereats or driving ubereats or. doing like favor or anything like grub. grocery delivery whatever get a second. job after work being a barista I don't. care that will help you cut this down. because now we're nine months we have.

the starter emergency fund and we've. only paid off one of three debts so. this is already taking a long time. after that you can then pay off the. boyfriend minimum monthly payments have. been made for a while there. for nine months and there's no interest. for growing so it's about 900 left well. obviously I don't think one like just. like one and a half months essentially. or ten and a half months now the student.

loans this is where things get. interesting by then they'll certainly be. happening anything that's above four. percent pay off as soon as possible I. don't know how much that is I think. that's going to take an additional year. on the situation minimum could take an. additional two years and everything else. were minimum monthly payments until. they're paid off there if they're four. percent or less as long as the extra. money that we would be putting towards. it we're putting towards investing if. we're not putting towards investing. we're paying off the debt and stuff okay. we're not just putting towards both. so.

they have a struggle because the student. loans are the biggest portion. I was trying to sit down I think this is. going to take about three years total. because then you have to save up an. emergency fund probably about 10 to 15. 000 hours in case you have to get the. car and you're gonna go get uh seven to. ten thousand dollar car in cash if you. have to do that and then you're. refilling that emergency fund so I think. this is actually like a four four years. minimum until you're allowed to spend. money on fun. because the income is quite minimal for.

the area. quite minimal for your situation you're. not even taking care of right if you had. to take care of rent there's no I mean. are you would you have a 600 rent I. doubt it you'd be in the hole you know. we wouldn't be able to make any progress. so if you can get a second job. bring an extra just an extra 500 a month. I mean you're speeding this situation. Almost Up by double you're taking it. from four years to two years really. so we need to see what the student loans. look like but.

part of me is nervous with the credit. cards of how they've operated you're. using them as an emergency fund you. haven't been able to keep money in your. savings. a little nervous so we get that started. emergency fund chop up your credit cards. never use them again because you just. cannot use them you're not a credit card. person and that's fine but you're not a. credit card person. so pay them off. chop them up. basic emergency fund pay off the. boyfriend then pay off the student loans. anything about four percent as quick as. you can then save up ten to fifteen. thousand dollars for an emergency fund.

we'll call it 15 in case you have to get. a 10 000 car and at least you have. something sitting there still. so that's what I think I think it's. going to take a while get a second job. but that's my diagnosis that's my. prescription what do you think honestly. I think it's very um valid and. definitely a lot better than the no plan. that I was doing before so definitely. gonna. try and find a second job for sure do. you budget. um not in like a strict sense okay so.

you don't budget it's time to budget. you're going to use any budgeting app I. do not care budget you're following that. budget strictly nothing else outside of. it matters unless it's a need. uh if you like if you have to go get. moles like that again that's a need so. you have to go to therapy that's a need. okay and are you going to be able to. with you spent all that money on both. that was a lot you overspent. like the credit card debt went up like.

you were more in the red last month than. you were in the Black by far so clearly. we're going further and further in the. hole is that able to be something you. stop yeah like um you don't have to eat. really well it's kind of like now I'm. also seeing a therapist. um and have like medication stuff like. that so that's also kind of like. um. definitely gonna be like something that. um like we talk about and stuff so. that's gonna stop. okay if you're real about this I should.

see that that the last six months if we. meet in six months or when we meet in. six months I should see that that's all. that's on the statement there's nothing. else unless it's an emergency need that. you're starting an emergency fund is. filled up to that 1500 bucks and that. you're starting to make progress on that. credit card we should we should see that. one thing that you might consider talk. to the boyfriend as well in that. conversation saying okay I'm gonna start. paying this credit card off that I'm. gonna pay you off can I just pause.

paying you for now that's an extra 200. that will go towards paying off the. credit card even quicker and then you. can pay off his 1800. it'll take around. the same time anyway but I'd rather. attack the probably what's like 25 30. interest rate credit card and then yeah. that's another option something worth. thinking about gotcha I mean yeah I'm. the stadium tonight so we can definitely. um talk about and just kind of see like. which one he prefers and kind of go from. there yeah any final thoughts. um I don't think I have any now for. Sienna my main worry is her cutting back.

on that spending can she actually do it. can she actually budget and then start. attacking these things if she is she's. in a young position now where she can be. in a great position later if she really. tackles this he gets a second job and. you know gets it taken care of even. quicker for her Hammer Financial score. spending within her budget zero out of. ten now you know we're spending more. money than we had with the credit card. balance drastically increased debt it's. gonna be a three out of 10 not the worst. that we have the debt to income is a bit. of a struggle but it's certainly not the.

debt the worst debt we've had retirement. just getting started so I will give her. a one out of ten emergency fund there's. nothing zero ten real estate there's. nothing zero out of ten so hammer. Financial scores so far at 25 years old. one out of ten if you want a free five. dollars feel feel free to sign up for. acorns using the link in the description. below you get a free five dollars I get. a free five dollars everyone wins don't. forget to follow my Instagram and. Twitter thanks.