Starbucks Employee Has STUPID Car Debt | Financial Audit

my name is Tyrion Carter I'm based in. Fort Worth and this is financial audit. how old are you oh 21 21 okay. what are you doing in Fort Worth for a. living I work at Starbucks and I also do. Walmart delivery and I also Rent Out. Cars on get around okay that's actually. that's a it's a new one for me I haven't. heard of that so that's interesting so. this is running out cars for people to. be able to drive instead of like taking. Ubers and stuff like that yeah okay and. you rent out your car yes oh very. interesting now 21 can give or take.

College are you. um I graduated high school with my. associate's degree but ever since then I. haven't really pursued school at all. okay so why did you choose not to do. school and that's perfectly fine but I'm. curious I just don't know what I want to. do yet and I like exploring my options. but mainly I don't know what I want to. do if I knew what I want to do then I. would go to school for it and then excel. at it and if you want to excel out. something you can excel at subscribing. and clicking that button below because.

it'll really help the growth of this. channel so thank you for everyone who. has subscribed so far I want to know how. the income breaks down between these two. things how much are you bringing on a. monthly basis Starbucks what's your pay. um so I make 1980. Something an hour okay so I'd always. just assume 19 dollars. and I want to say. my checks are sometimes like a thousand. maybe a thousand two hundred and they're. bi-weekly said my monthly bi-weekly and. then like say those again a thousand or.

a thousand two hundred how many hours. are you working uh it varies a lot. because some links is like I have 40. hours something I may work more but a. lot of times I may work less why is it. so variable the management. um I wouldn't say that we have a lot of. like shift supervisors and I'm not the. only one and we have like seven the. average store only has five so it's like. hours fighting so they're overstaffed I. want to say yeah in a way okay and what. do you bring in doing the Walmart. delivery. um I want to say around 500 a week.

depending on how much I work maybe a. little more maybe a little less. and you determine how much you're. working based on how many hours you're. getting at Starbucks yes okay now give. me your average your average weekly. allotment of hours at Starbucks so you. said sometimes 40 sometimes blah blah. blah what's the average I would always. around 25 to 30 is what I always that. sucks okay. that sucks because I know you want more. yeah you prefer that over the delivery. above it's like it doesn't really matter.

to me it's both kind of like what gets. me by by now in this car rental. how much you bring it into that so I. just started that in September but from. September to January it was around two. thousand dollars okay and then like it's. on get around now and it just came back. on this first rental yesterday so I made. like 400 bucks off of that but 400 bucks. for like how many miles were driven. um I haven't calculated it yet I can.

check now though well if you haven't I'm. curious have you been calculating if. it's worth the wear and tear and. everything on the car. um no not yet because you said what you. make I mean that's not that much to make. in. three four months it was with a. different platform and it wasn't getting. written out a lot on there so I have to. well that platform closed down it was a. bill in Dallas but now it's like on a. different platform but I've been like. ran the numbers yet because that's so. new it's an interesting service I mean.

that's totally sweet just make sure. you're doing the math to make sure it's. keeping up with wear and tear the miles. that you're putting on the car and. everything like that that would be my. only concern 400 for a ride yesterday so. what you said yeah so if so I mean that. sounds pretty sweet they had it since. last week on Thursday so okay. I'm just curious how much was driven but. in general I mean 400 for a days that. should keep up with it at the very. minimum I'm sure you made a decent. profit there I'm very curious who the.

heck is renting it someone else's car. for 400 for like a few hours or was it. the whole day I'm so curious sir over a. period of like days you just go to the. ads yeah days. okay. interesting I wonder too because like. the first day I saw it on there my car. was like listed for like 90 so I'm just. like I would even rent my car for ninety. dollars an hour or what yeah it was just. an hour 90 hours an hour okay I want to. take a quick moment to think today's.

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insurance quotes and see how much you. could save big thanks again to policy. genius for sponsoring this episode now. looking into your situation so 21. no call screen totally fine not in. college that's fine but you're working. essentially two jobs with a side hustle. as well I. want you to describe your financial. situation from your perspective before. we do a deep dive. um. my financial perspective is okay I just.

feel like I want to get a house pretty. soon like when I'm 25 I'd say soon but I. feel like that time can come up on me. but I'm just trying to place my better. in a financial situation to get a house. okay. well let's see if one your financial. situation is okay as you said so in two. if we can get to a point where it's even. realistic to get a home in four years. and of course we're all hoping that it. is let's start with your checking. account this is your personal checking. account in this.

1 328 starting 1600. 368. out so. just a lot in lot out there were some. ATM there was an ATM deposit but there. was also ATM withdrawals and we have no. idea where that money went that's where. went which is why I personally don't. like taking out cash unless you're doing. it like for the envelope system. specifically but there's like Capital. One payments pedal card payments Amazon. or American Express payments Capital One. ATM ATM American Express Capital One.

selling out money stuff like that your. apartment payment cash happy now what is. this WF for 250 and then WF for 300 what. is that w w f. I want to say Wells Fargo oh my brother. was paying me back he had owed me some. money and I probably like transferred. from that to like to pay a car but it's. transferring from this account WF oh hey.

that means going to Wells Fargo so I. might be giving money to either my mom. because why are you giving your money to. your mom sometimes like I she pays for. stuff and I pay her back so okay that. was expensive that's a lot 250 and 300. what was your mom getting for that much. in a single month. maybe it was a cart payment I really. don't know a what payment a card payment. like my Wells Fargo card but I'm not. sure. maybe I just have money and I don't like. that you don't know that's not good I.

don't know okay but you have a business. second account as well what why what. business do you have other than this car. rental thing so Walmart and the car. rental thing is up under my LLC. buy the LLC they said you need a. business bank account I don't know. business taxes and all because you're a. contractor with Walmart okay because you. you're paid via Contracting gotcha. so that's. okay cool well this one definitely has. more of a balance a thousand seven.

hundred or two dollars in 2003 uh sorry. 2093 out so technically more out than in. but with the total balance ending of. just about nine thousand dollars you. know that's not crazy there's a lot of. money in here that's a great balance for. checking account maybe possibly too much. for a business checking account. depending on the business you know I. mean that's definitely fine maybe even. small depending I think since you're. just a contractor for Walmart delivery. might be I mean it's fine it is what it. is and there's really nothing crazy in. here you're just again paying off cards.

using your business checking account. um it's probably like the business card. if it's on there if not Capital One. is your business card with Capital One. yeah okay it's just it's a spark card. okay. cool good I just want to make sure. you're not paying off. personal with that no I have plenty. personal credit cards for that. right. now what was a little concerning I. didn't like this we immediately go into.

your Chase savings which you know not a. great place to have Savings in general. but 2161. started 75 and okay pretty insignificant. really for overall savings but a. thousand was taken out ending with a. thousand two hundred thirty six why are. we taking money out of savings so you. have nine you have nine thousand in your. business checking what are we doing so. this was so I got in a car accident in a. rental car and they gave me a thousand. dollars like back in July and they said. they're gonna ask for you to pay a.

certain amount later and then it was. just a thousand dollars so I just now. paid it and that's why I took it out but. they're giving you I just want to make. sure I'm tracking that they're giving. you the a thousand back no like I. already got it it was in my savings and. I took it out to pay it. okay why'd you put in your savings. because it's I just knew I had the money. and I just didn't want it in my checking. account because so your real savings is. only a thousand two hundred then yeah. why when we have I mean your personal.

checking account okay balance but yours. you know your business is like nine. thousand savings pretty low do we have. is this your only savings account yeah. okay that's not an emergency fund I know. I plan to get there what do you mean you. plan to get there um I want to grow my. emergency funds why haven't you there's. money. um I would just say taxes because I was. waiting to pay my tax bill because I. don't know but I just did my taxes today. and I didn't have to pay so really yeah. okay and you did you do your taxes did a.

CPA no I did it with Turbo Tax. [snorts] should be fine I mean were you. just trying to take advantage of every. single little thing no I know um that. most people it's like two different ways. that you can deduct a car I just do the. standardized way is easier simpler we. also have like a. cost [snorts] on your business card and. stuff as well where you're trying to. yeah so it's mainly just small it's. small Mills so I put like a thousand for.

like Mills throughout the course of a. year Well tracked and documented um I. would say it's not well tracked but it's. I can like prove it you can't yeah. that's my that's my only question so how. much in. don't bring in a crazy amount of money. so I'm curious what was your taxes so. you said you didn't owe any now it's. because you rw2 on Starbucks so you have. a mixture of Contracting and. um. getting automatically taken out of your.

paycheck on a bi-weekly basis as well. through Starbucks. do you know your total tax liability for. this past year. um no that's a good question but. in the end even with the Contracting you. did not owe additional did you get. anything back yes I got a thousand. dollars and 200 I got a thousand okay. okay and I was literally gonna put it. right back in the savings to double that. kind of. yeah. yeah it's easy to double it when it's a. thousand dollars.

yeah so do you are you not a saver. because I mean it's it's not a priority. but. um why. I don't know I I like living in the. moment and if I can save then go ahead. go ahead and save okay so what are your. financial goals what are we trying to do. here living in the moment. um I don't know just I just get very. nervous when I hear that. so if an opportunity arise I just take. it so what do you mean an opportunity.

that you want to do that you like to say. if it arrives so like if my friends call. me and be like hey you want to go out. tonight yeah of course well we're good. with spending but do you budget. I would say no no or else you would have. savings because okay how long have you. been doing the who are you went out of. high school associates degree so you. clearly performed a while there and you. did what some like AP or IB stuff and. stuff like that okay do credit and yep. dope so awesome beautiful and then you. went straight into just working there.

those places yeah so it's been a few. years then a. thousand dollars saved. um I would just say car purchases our. purchase a brand new car in 2020 and. then a brand new car yeah in another car. yeah I just bought it but you have two. cars yes why why because the one is. getting rinsed out and the other one is. my personal driver okay I want to look. at this rental stuff dude I want to see. if this is actually worth it yeah I want. to see if it's worth the depreciation. it's because I know you have debt on.

this car we haven't even talked about it. I want to know if this is worth it I. want to know what the return on. investment is versus if you just put it. in the market uh. okay [sighs and gasps]. so again we pulled out from savings but. we'll continue. going. forward. we're gonna get into like a billion. credit cards all right let's start with. the first one and what I'm going to be. tracking is in these statements to be. very clear you don't hold balances so.

that's fantastic we can celebrate that. no interest has been charged I did have. a balance for a short period of time. when and why probably November of last. year so my brother I let him use my card. and now I regret it so much but I did I. just paid it off and then. I want to say like I was charged like a. one-time interesting of like 10 to 15. and then. I was just like okay yeah. okay but I got a good signup bonus so. technically it's off.

well. when we're going to talk about income. versus spending versus the side hustle. versus investing versus everything else. one thing that's very clear the credit. card on the top of this pile of credit. cards 1758. purchases. we haven't even added up like fully what. your income is but for someone in. general not The Stereotype but Starbucks. I'm working at Starbucks and even 40.

hours a week and side hustles that's a. lot of money to be spending. and of course the vast majority of the. spending. Pluckers games of GameStop who goes into. GameStops I. bought someone a gift for Christmas from. okay. Spiral Diner and Spec's Liquor Specs. Liquor faux and grill or Pho and Grill. and Uber Eats very expensive way to get. food speaking of very expensive ways to. get food GrubHub and lots of parking.

Insidious experiences in IHOP and. Apple paying at some parking and United. Airlines so we're going on a trip and. some hotel and a link Technologies and I. don't even know what this is what's a. thousand dollars Enterprise Drew oh that. was the car me paying the car like I pay. it with the the um rental car that. whenever I got into an accident so like. you know how they gave me a thousand. dollars okay so I just paid it with my.

card and then like I paid it and then. the shots are. lots of money spending. but we have a pedal card and on here we. have new charges of. 1135. and 25 cents this is going to add up. very quickly which is now why I can see. why you do not have savings but again. you are paying them off that is the good. part I just don't think you have. anything left over Lush very expensive.

way to get anything for baths and. lotions and whatever. and cocoa bang Port parking. Alcatraz auntians Port JLS parking Bubba. Gump bunnell's fine Texas Starbucks. Chick-fil-A so. lots of BS spending again. I did take a trip to San Francisco in. the beginning oh literally December I. wasn't expecting to pay that much for.

parking guess what we don't go on trips. until we have an emergency fund because. I have an emergency fund is an emergency. because emergencies can pop up pop up. and you know why because they're. emergencies they're unpredictable. so we don't do that until you have an. emergency fund. you don't have an emergency fund no we. have new charges on this Wells Fargo. Visa signature card 57.22. I do not like that card I highly do not. recommend yeah well you barely use it. but that's what your charges were and. you just got.

Best Buy essentially so. again. I highly doubt that's a necessity I was. the best Christmas gift yeah. man 156.42. cents on a Dillard's card. store cards I hate store cards. it's not the best I almost got my first. points almost literally almost no I had. that car for like two years and so I. haven't even reached it I lost the. second page here for some reason but. we'll throw it on screen the Dillard's.

card you're not even spending it at. Dillard's it's like restaurants. it's like Schlotzsky's or something when. I was going through it why are we even. using that card I just got it when I was. 18 they had offered it at the store and. I was like okay. now we have 521.95. from the Capital One Venture Card. dude this is getting expensive Capital. girl photo booth photo booth Alcatraz. Pepper Place travel something and.

Starbucks Starbucks is supposed to be. giving you money not you the other way. around that was uh like half your hourly. ways that you just gave to Starbucks. brutal stacking up again not Necessities. not at all and we have an apple. subscription there too there's a couple. Necessities sprinkled in here and there. on these cards for the vast majority. which depending on the situation is okay. or not. I'm starting to have a little tingling. sensation that it is not okay. 360. oh my gosh it just keeps going 306.

dollars. was spent on Capital One spark business. card so here's your business card but on. your business card you have your Netflix. subscription I feel like they said you. can I watched a YouTube video and they. say you can use that so I just put that. on talk to your CPA okay I am not a tax. expert by any means and Sonic. drive-through quick and clean it's a car. wash. so I guess we can say okay for that and. you PayPal someone and Monique and.

monolos auto well which makes more sense. now some these ones are actually a. little better other than a couple even. out but those ones are more qualified. for the business oh my gosh the pile. just keeps going 101. dollars now on the Capital One. Quicksilver card and here we have. Avalanche promo. I was using everland I stopped using I.

don't know what it is what is it it's. like the track your Miles when you're. driving. and TXU. bill. that's my energy bill okay that's fine. oh my gosh dude. 103. two dollars and five cents of purchases. how does this not make you vomit I taste. the vomit in my mouth from all this this. spending this is insanity. I just feel like I have a lot of stuff. yeah no what [laughter] yeah.

what are we doing here Schlotzsky's. Chipotle Schlotzsky's sklotskis. Schlotzsky's. we're a big fan of Schlotzsky's. apparently and chipotle and Taco Casa. Schlotzsky's Poco Rigo and Schlotzsky's. it's by work and it's like half off on. Wednesdays because you're spending. you're spending like in hours of wage. there almost. let's see Schlotzsky's uh well it. depends it depends what you get. sometimes you get something cheaper.

well. guess what it's time to do some math. Graham if you're watching hi. smash the like button. well you know what Graham wouldn't like. what you spend essentially the exact. amount that you bring in essentially. yeah you make about four thousand. dollars a month. before the car rental thing and in this. month he spent four thousand one hundred. thirty eight dollars 47 cents now one. thing we can do fun fact because that's.

actually just credit cards because there. was the checking account but one thing. we can do we can take a thousand dollars. away for the car rental that you had to. do but guess what then we re-add just. over a thousand dollars because your. rent so we're right back to this and a. little more. unsustainable. unsustainable. a green a green so why have you ever. added up what you spent yeah I want to. say I did the month before and it was. probably like around 3 700 okay that's.

still I made like almost 4 000 and I'm. just like. at least I you know kind of Saved 300. out of that. and you accepted that as being okay. it's better than nothing it is better. than nothing do we accept better than. nothing as being good though. um no and then also I want to say during. that time like I did like have 30 of my. Starbucks check like for like 401K good.

that. doesn't change your spending versus. what's coming into your checking account. I just felt like whatever and but before. then you mean you're not doing that. anymore. um so I just took it down to 15 because. of my rent's gonna go up whenever I move. but. to run to gun right now 999. and what's it going up to. um I'm moving and the price range has. been like 1350 to 1450. ah [sighs].

I'm [snorts] comfortable. with 999 being about 25 of your income I. don't like this new rent why. um the place I stay have like water. issues the water keeps going out. probably like once or twice a month the. area is okay what do you mean it's going. out are they just doing maintenance like. I lose water in my condo sometimes too. but they're like hey guess what where. someone's redoing their you know redoing. their unit we need to shut it off a.

little bit here or there's like a pipe. something so it's a boiler system and. the boiler system keeps breaking down. and the same people keep coming out to. fix it and I just don't want to put a. system for your unit or like you're. building or for the complex so our the. boiler system is for like our half of. the community and it's it keeps going. out so I was like why I still have that. problem when I can move somewhere else. without that problem you're getting. dangerously close too well and the Mart. delivery that's that's before taxes any. taxes do so this is a mixture of after. taxes and before taxes you're.

essentially getting very dangerously. close to your rent being about 40. percent. that's not good dude 40 is going to just. putting a roof over your head. it's not like you're competing for. an apartment on Manhattan or in the. middle of San Francisco or LA or. something like this here in Fort Worth. not saying it's a cheap City by any. means you know compared to many towns in. the United States you know certainly.

expensive but. I know you have alternatives. I don't like the Alternatives they're. not up to like my sender but I would I. would just say like I created like rent. a house for a cheaper but do I want a. house. like a rental house do you want money do. you want an emergency fund do you want. to be able to retire at some point yes. okay then you gotta cut back if we're. following the most basic 50 30 20 rule. you're spending the vast majority of.

your 50 of needs on the roof overhead. all of a sudden you're barely ill you. don't have any room left for your car. payment and you barely have any room. left for utilities or groceries or. medical expenses or anything that pops. up you've completely you've almost. completely maxed out your. needs category for following that most. basic budgeting tool or rule so. did you sign the lights already no I. don't it's as simple as that you're you.

I know you're going to sign the lease. well hopefully you have some you know. you think about it between now and then. but don't this is too much for your. income this is too much and right now. there's many things we could do to get. to that point where you can have this. and I think we need to get you into a. maybe a potential better career position. but right now with where your income is. and we haven't even talked about the. debt situation. this rent.

is not going to be good for you it's not. going to be a blessing it's gonna make. hers some. thoughts. um are you gonna try to find something. cheaper hopefully the prices go down on. the lease but I know for a fact you can. find something cheaper if I can find a. studio or one bedroom slightly cheaper. in Austin I know for a billion percent. sure. you can in Fort Worth. um so I've been looking for a while and. I still haven't been able to find any.

like cheaper for what's it looking so. while I'm doing like Walmart orders I. would stop in the leasing office of. wherever I'm delivering to no go on like. Zillow and apartments.com and all that. stuff. don't be shopping around in person once. you find a few places you like yeah. absolutely go in person but don't be. chopping around in person like hey. that's an apartment let me go ahead and. go in there and see what's up no take. [laughter]. advantage of the living in the 21st. century my dude. um this price too expensive for you flat. out don't do it this would be bad for.

your future. simple as that you might put your wants. over your future I hope you know mm-hmm. not getting a good feeling right now. about that but. [snorts] let's talk about this that. situation so you have two cars. explain the debts so only have debt on. one card and it's the one I just bought. it's a 2011 Kia Optima Hybrid and I want. to say the starting balance was 12 500.

around there I know my interest rate is. insane it's 10.49. why okay. the guy was like he couldn't find a way. to lower it no of course not so you. shouldn't have done it okay so that was. the starting balance twelve thousand. dollars what's it at now. um I want to say 10. I paid like two so. is the payments 250 I may pay what's. your term. um it's 72 I believe dude. why.

to be clear I'm not angry at you I'm. just angry at the the fact that we're in. a 72 month loan I'm angry about your. situation because you have to um. it's crappy to be in [clears throat]. that's 72 months dude I know I could. like invest that same amount in the S P. 500 and be way up that [snorts] uh yeah. because the s p average is just over 10. percent on yearly basis but this is at. 10.39 so what are we doing here this. doesn't make sense plus the depreciation.

of a car would you buy this in September. or on the car markets when yeah yeah. and I basically bought it at the wrong. time kind of yeah. what's your other car. the what what's your other car. um it's almost the cx-30 yeah 2020. what. was the purchase price of that car did. you buy it in cash. um no so I've did financially but I've. done paid it off since then but like I. look I recently looked at it and I was. paid 38 900 and something for it way too.

much for your income but it's paid off. okay it's paid off. probably had a relatively low interest. rate at the time again yeah I had 1.9 oh. yeah okay I'm cool uh too much card for. you with it but it's paid off yeah it's. done I was living at home then and I was. just like I didn't really spend my money. on anything else so I wanted a nice car. but. I don't feel like I could have afford. another nice car now though so all right. fun fact you ready yeah no that's the.

the key is stupid I don't even know what. it's worth but with that interest rate. and the depreciation [clears throat] uh. when you go back to Fort Worth next day. you're putting it up for sale on private. sale or you're taking it into CarMax and. stuff the side hustle it's not going to. be worth it that ten percent point three. nine percent interest stupid stupid. stupid you sell it whatever remaining. cash you have to make up to pay it off. guess what you have an extra like 3 000. hours a month that you're just spending.

on crap you do not need you take that. money. after cutting back for just a month of. just not having fun you take that and. you say okay I'm gonna pay off the. remaining balance of this one let's say. you know you have the ten thousand. dollar loan so you sell for eight. thousand two thousand dollars boom close. it out never do it again stupid if you. want to pursue some weird side hustle. rental with a car fine save up buy the. car and cash at that point. those ass is dumb this is dumb. [clears throat] there might be an excuse.

of mathematical justification if you. could get it like 2.5 interest rate so. this is what I was thinking so I did buy. this car so I can refinance for a lot. less not now not for a lot less not now. well I I don't know really that much. about it it was just like my payment. would be cheaper and my term would be a. lot less is that what they told you yeah. with a higher payment though so I could. like pay it off sooner well yes you'll. probably have a higher payment because. your term will be less but your interest. rate is not going to be much lower than. that not now with interest rates going.

up I don't even know your credit score. you might have to wait a couple of years. to get a lower interest rate at that. point we're losing too much money at the. time should be paid off by then I think. you have a 72 month lease what are you. paying extra from the 200 a month or. whatever. um so it depends on how much while like. I get paid from Walmart so if I like. have nothing that I spent money on then. I'm like but you spend money on. everything and see how this is working. out why is that car paid off in two.

years by two years I just feel like if. I'm not spending then I'm paying off the. car but you are spending what do you. mean if you're not spending all we have. is historical records of you spending I. don't get it I I don't get it what are. you trying to you're trying to justify. um I just feel like I just needed. another card just because I did not need. another car you have a 2020 cx-30 you're. finding a way to justify this because. you want it and you wanted the side. hustle thing to work out dude like I. said I'm okay with first of all it's.

probably stupid compared to just regular. investing with the depreciation of a car. with the maintenance you have to do on a. car with insurance payments you have to. have in a car even if you owned a car in. cash then who knows it's essentially. like having a tenant to be in your car. they could be spilling crap everywhere. who knows. I would much rather just invest either. in real estate or. um oh [clears throat] speaking of which. you're not even close to being able to. buy a home by twenty five thousand. dollars in an emergency fund that's not. even in the picture right now so if you. want to take the right steps we stop. acting like a child who's trying to.

justify our wants and you get rid of. this car now. I just haven't sold a car Private Sales. so that'll be something new we'll take. it to places like CarMax too and just. see what you can get if you can just I. know it's not it's not perfect put it on. there there's not so I wouldn't even say. like I looked at my car value this year. just to check it out. ridiculous it's worth like I think. carvana was the most and they gave me. like 3200 for it and like I just see.

like cars on the market and my like. they're not selling as high and I really. like no they're not you're picked a. terrible time to do all of this yeah. okay Private Sales is Craigslist take. pictures clean it up get it all clean. you know detailing on the inside it's. the full Facebook so I'm pretty sure it. could go fast so well just do it just do. it. take pictures. Facebook Marketplace Craigslist people. are always looking you're in a major. Metro you're in one of the top major. metros in the United States yes you will.

find you'll find people you'll negotiate. and again if it's under that ten. thousand I'm okay with that you will. come up with the cash relatively easily. because you'll just cut back spending. and act like you're an adult with your. spending habits and budget like I you. know human that's above the age of 16. mm-hmm. so [snorts]. from there we're just gonna assume. you're doing that. the four thousand hours that you bring. in let's say after budging everything. you have like two thousand dollars a. month because you're gonna budget your. groceries you're gonna budget your. expenses Health Care everything let's.

say after rent and everything two. thousand dollars less because guess what. you're not upgrading that rent either to. a rent you cannot afford because it. doesn't make any sense two thousand. dollars is left putting some money aside. for taxes a thousand seven hundred for. the dollars left let's just say okay. you don't have a single ounce of fun not. for a single second not for a single. trip not for a single restaurant or. anything for five rounded up to six. months I don't know if it's six months. so you can only have a ten thousand hour. emergency fund on that might not even be. a perfect emergency fund for you you.

might want about fifteen thousand. dollars you see where we are yeah and. what you're missing in this entire time. is oh the amount of compound growth that. you are missing out by investing my. goodness your money would be worth every. dollar you put in is going to be worth. in the 80s that you're doing now versus. you know in your 60s but we're missing. that opportunity because we're just. throwing all our money out we're getting. stupid car deals we're increasing our. rent to something that's well beyond our. income and we just don't have an. emergency fund so we can't invest here. because you have no savings I think you.

can get that emergency fund quicker. taking some of that money from that. business checking because your business. is not require that much money and you. can put like you could get you could cut. this down to just a few months by. putting like four thousand dollars in. there or something. which. you pay off the car like no no it. doesn't make sense for your situation. right now let's get basic investing. bones let's get work into this house. let's stop with this distraction of this. car side hustle if it's something you.

want to experiment with at some point. when you have the basic foundations okay. but we're not even close to the basic. foundations there because you don't even. have something as simple as an emergency. fund. so no we're not paying off the car it's. dumb you already have a car a nice car a. nicer car than I have. you'll be fine. so you have an emergency fund in a. couple months because you're able to. bring some money over there you only. have a thousand dollars already so. you'll have like five thousand dollars. starting get to ten thousand dollars. maybe get to fifteen thousand dollars.

depend on your situation of what it. takes for you to live off of six months. because anything can happen pandemics. they're part of our world now. from there dude [snorts] this house goal. it's going to be hard so a different. part of the conversation needs to happen. the income you're bringing in I mean. it's it's yeah it's fine. but for I think where your mind is at. for where you want to be in life it's. not well okay. so career opportunities what do you want. to do what have you thought about so I.

still really don't know. um I've basically been applying for like. store manager positions and I even like. applied with Starbucks I had an. interview and everything it just didn't. fall through the person said like I. don't have certain leadership skills. that they were looking for so I just. feel like the Starbucks track may not be. the best for me but. I don't know I have thought about going. back to school but I don't know what I. would major in or what I would do it in. what do you like doing.

I like cars a lot so have you thought. about a mechanic. um no you don't like that aspect I I. understand it but I wouldn't want to do. it if that makes sense. okay so what about cars do you enjoy. that is. that you can make money off of. um I don't know I did work at a. dealership for a little bit I was a. Salesman and I really didn't do good in. that role not good sales yeah. yeah. I don't know I thought about working for.

a warranty company but I would just have. to find one so. okay. but if not I I feel like I have to go. back to school because it's just like I. have no like career well not necessarily. there's lots of opportunities there's I. mean school can mean a lot of things it. can mean uh. well first of all you already have an. associate so hopefully you know I'm not. that far from Bachelor exactly I'm like. one but there's also like trade schools. and there's certification programs not. everything is like going back to the.

four-year Institution. but you need to figure out what you want. to do first or else like. so many Avenues and where we go from. here when it comes to our income and job. that just depends on you sounds like. you're not a leader or at least the. Starbucks didn't see it in you you're. not a salesperson. okay I would like I can explain a. product really well but like convincing. someone to buy it was not for me. have you taken career quizzes tests. stuff like that yes and a lot of them.

say like a financial like person I I. only took one when I was like at a SMU. program during the summer in high school. but most of them were like a type of. counselor financial advisor like along. those lines data analysis oh okay we'll. take one again today and just see see. where it lines up for you but. essentially okay I would love to get you. in our house it's going to be hard with. a house by 25 and 40 years it's gonna be. hard with this position unless you get. into. alone stuff like that but even at that.

point I mean your minimum monthly. payments with what you can afford and. rent right now I mean it's gonna be hard. in the in the Dallas Fort Worth area to. get something you can afford on a. monthly basis that doesn't put you in a. bad position. so I think right now we obviously have. to get rid of the stupid car that makes. no sense we need to get the emergency. fund immediately it's an emergency not. to have an emergency. I.

would personally because you are in the. best time of your life for compound. growth. [snorts] budget is critical a budget. will critically get you through the. saving up for an emergency fund. situation and then get on a strict. budget of some kind depending on how. hard you want to hit your goals. I don't want to see at least 10 15 going. into the market in some kind and I'm not. going to give Financial advice of where. to go but in the market Fidelity someone. can walk you through it so I just go out. of the Starbucks money like that much is.

going in that's true okay that's just. your Starbucks though that's only half. your income yeah. so maybe we amped the Starbucks back up. to 20 and then you can then maybe just. don't worry about investing right now. any of the money from the Walmart. delivery does that make sense well also. like my viewpoint was to like end up. buying a cash card with the money that's. in my business account to like rent out. dude what is your obsession no get the.

foundation set you can do this we. already talked about I'm okay with you. doing that but get the foundation set a. dollar turns into over eighty dollars a. your age if you're putting it in the. market and like the S P 500 you're. missing that by trying to experiment. with some stop. the book. you can do it at some point build the. foundation first please so the 20 of.

Starbucks will be good with that yeah. okay so go back to that that makes more. sense. and then from there how much you. aggressively save versus how much you. know maybe we're saving up money for. school maybe we're saving up money for a. house what you need to determine is what. you want to do and what the steps are. that we need to hit in order to get. those goals if a degree is a goal then. we need to save up for school if a house. is a goal then you know we're looking to. maximize as much income as you can I. know you can work over 40 hours a week. if you want to and then it just depends.

how much you're willing to spend on fun. versus saving because at this income. even an income slightly higher you're. going to have to save so much freaking. money to put 20 down in just a few years. you can do that you can do that you just. have to cut back and make sacrifices and. decide where you want to and that is up. to you that's another reason I don't. like all this messing around with the. extra BS getting distracted set your. goal what is most important if the most. important thing in the world to you is. to rent a car then fine do that I think. it's a stupid use of money because.

dollar to over eighty dollars. pretty good math I like that math so it. just depends on your goal okay what's. your overall goal what's the most. important house this car thing a degree. what oh my goodness I can't decide like. I feel like all is important in certain. like their own way but rank them none. um scale of importance. topic I feel like if I'm scaling my. rental car business then that should be. like priority but if I don't like taking.

my mind off of that then it would be. like finding a pathway to get back in. school or like I know I can go to school. for like free with Starbucks but I just. take advantage of it it's only two years. it'll be 23. do it this house you. mentioned the house at the beginning is. that not even that much of a priority. that I would say like this year I was. like I need to start like clearing up. like my financial budget so I could like. save just in general. how important is it to get it by 25. I.

would say like 75 important to me okay. that's very important yeah if that's. very important then then no no car BS. and we are maximizing income as much as. possible right now and. uh cutting back on everything you're. spending all your money so you obviously. have to budget use any budgeting app I. don't care they're all fantastic and. just clean this up because right now. this is a bad situation so there you go. your hand you had your financial. bullying you have what I think you can.

do to clean this up and get to your. goals but you got to clean up some. serious spending issues and get out of. this weird car situation and figure out. your priorities and then you can set. goals along the way in order to hit that. larger goal to figure out what you got. to do nothing act like an adult and. actually do them yeah. final words final thoughts. um. I'm ready to start saving. as always with almost every episode when.

someone doesn't have the best finances. they think at the beginning that they. have great finances then it turns out. not so well I mean come on spending. every single Cent that exists not having. an emergency one having an insane. interest rate on car debt trying to. experiment it was a weird thing instead. of investing or taking care of any kind. of budget saving up for house I mean. it's not great but it's also not the. worst we've ever had Hammer Financial. score 5 out of ten make sure to check. out all the fun things in the. description like my Instagram and. Twitter and don't forget to subscribe.

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