Taking Out Student Loans To Buy Fast Food 3 Times A Day | Financial Audit

hello my name is Edwin Bautista and I'm. 25 years old based in Austin Texas and. you're watching Financial audit. in Texas 25 year old yeah so I am a. management assistant for a local. non-profit here in the city but we have. offices throughout the state and our. work impacts multiple cities okay how. many hours a week do you work I work. about 25 hours a week okay and what's. her is it salary hourly hourly how much. 25 never. do you think you hit that 25 every time.

or is that just about an average. um it's pretty much every time my. paycheck's pretty consistent like give. or take an hour or two less what's your. paycheck bi-weekly or what uh twice a. month yeah okay so before taxes you're. probably making about two thousand seven. hundred dollars on a monthly basis on. average I would say more closer to 2500. okay so you don't always get 25 hours. not always there's maybe like one. paycheck or two that I do like maybe. like an hour not less than not less than. five or you know hours at most but is in.

that range usually my paychecks are. relatively the same though. about a thousand dollars after taxes. okay. wait a thousand dollars a thousand. thirty two it's like usually wait what. it doesn't get cut in half. oh I mean by paycheck like paycheck is a. thousand dollars and then. per month it's two thousand dollars. it goes from 5 000 to 2. where are you getting five thousand. twenty five you said your weekly. paycheck your Bible oh I'm sorry I'm.

part-time I'm working part-time so only. work 25 hours a week and. it's bi-weekly. I meant monthly okay. probably after what after taxes on a. monthly basis uh 132 1032. 1032. why is it a 50 percent I'm not. sure what you mean like my monthly it. goes from 2 500 a month. to a thousand dollars gross yeah that's.

gross. 2500 are gross and so after taxes it's. like a thousand dollars a month. per paycheck dude you keep switching. between a month and bi-weekly what is. what well I get paid twice a month so. yeah it's usually twice a week so. not twice a week I'm I'm sorry twice a. month so. I'm not really sure. Mike monthly told my monthly gross is. twenty five hundred dollars okay monthly.

grows. what's your monthly net monthly net is. roughly two thousand dollars there we go. that makes so much more sense you kept. switching between bi-weekly and monthly. when describing yourself but without the. context of switching but that is okay. two thousand dollars a month first of. all that's incredibly low because yes so. what else what else is going on I mean. that's pretty much my income Source I. don't have any other.

um side hustles or anything that I have. a relatively low housing cost so that. you know helps out but I mean I'm. I mean I'm pretty much living off of. thirty thousand dollars what else do you. what are you doing with the rest of the. hours of the week I'm a student oh. you're a student yeah okay where do you. go YouTube oh okay what do you study. grad student uh community and Regional. planning urban planning. mmm interesting okay uh what year are. you finishing up this semester actually. so graduating in May graduating in May.

okay very cool so what do you plan to do. with that grad graduate degree plan to. stay here in city and probably work for. the city or some governmental agency or. possibly non-state in the non-profit. sector what's like the position you. would get. um really depends on I guess what I. decide to pursue after like I'm right. now in the advocacy space so do you know. what you want to pursue for the most. part I think I definitely want to say. within. um local. politics and governance like whether.

that be with the city I don't know I'm. kind of any job specific though that's. what I'm trying I'm trying to yeah no I. don't have like a clear you know like a. planner job like I want to like I'm. comfortable where I'm at right now and I. can transition from the role I'm in. where I'm the nonprofit at to like a. more Hands-On direct role which is I. think what I'm going to do but I don't. have like well I'm trying to see like. what. a position is that you'd want and like. what that pays okay. um like for an average planner I would. say like a a good job out of out of grad. school probably range anywhere from like. 60 to 80. okay that's good kind of what.

I'm shooting for are you cash flowing. school right now my what cash flow in. school cash one flowing cash flowing. it's cool oh as in like. um like in my opinion how am I pay for. it uh yeah I took out student loans oh. okay a lot of student loans oh I assume. you know you went to undergrad as well. yeah did you student loans those yes. okay and I graduated during the pandemic. so that's another reason why I. started grad school because I was in. kind of like a limbo State and know what.

to do well that's not a good reason to. go well I knew I was interested in the. field I'm in but I just I needed more. more education and more um knowledge of. of planning and I didn't get that in. undergrad so with this program I. definitely got what I wanted but. obviously that is you look like that. dude that's on TV in a bunch of. different sitcoms. do you not know what I'm talking about I. don't watch TV that often well neither. do I but I've just seen pictures of them. what show. I don't know you look like Max. Greenfield.

I've never heard of this man a picture. of his on screen right now but you look. like Max Greenfield. doesn't he. you know Ugly Betty yeah you look like. the captain New Girl. so before we go into your money I want. to hear from your own perspective as. honest and transparent as you can what. is your financial situation look like. from your perspective. yeah so my financial situation right now. is definitely not great I know I have a. pretty bad spending habit.

um and I want to kind of bring that in. but also just start saving for an. emergency fund but also possibly for a. car if that's something that I could do. not have a car right now I do but it's. paid off my mom it was a gift for my mom. like like um. a few years ago so like I don't. pay actively for it but it's well it's a. good thing yeah but I you're just like. an uh a newer car I guess it's not. what's the car it's a 2017 Nissan Sentra. okay it's not a bad you know car or.

anything I just would prefer something. that's maybe electric and. maybe you're. here well. yeah I don't think that's on the. priority list of things in grad school. done we have. two went in and one went out a thousand. four hundred went out ending with 216. kind of uh you know one big thing could.

hit that and then overdraft or denied. depending what the situation is but. yeah you get paid in cash because you. put in 700 bucks of cash oh it's just a. deposit like a random like uh well like. where'd you get 700 bucks from it's kind. of a long story but. um it was it was just a cash deposit. that I had from that was transferring. from another bank account to this bank. account. do you have a sugar daddy no. no no I guess I'll just come up front. and say right now as far as like because.

this has to do with my other bank. account my um UFC account I basically. got scammed uh last month in that sense. of in the sense of like it was a check. deposit and and I think it was just you. know my own kind of. um. no the reason why I asked if you had a. sugar daddy is because daddy oh 400 and. that's a person who I sent it to that. was his username. I know that's one of those things I was. just like I was it should have been a.

red flag right then and there but I mean. the other point I was already too deep. in that I couldn't like you know not do. it because it was 400 right yeah that. was like half of what I've been like. cash out him and that's kind of where. I've been kind of dealing with that. before like it would it was just like a. straight up scam like this guy was I was. trying to help him out as far as like he. came in with this story Nigerian prince. no it was just like. um like a i.

one of those things they were just like. trying to help someone stranger out kind. of thing where it was like oh I need. money like my I need to pay my rent and. my kids are like hungry he came up with. this story and I was like okay well. where did he approach you how did you. get in contact it was like a random. person but it was just like I don't want. to switch in the distance in the details. but basically it was just like a cash. Mobile deposit thing where he had to get. a check and I knew I knew like I mean. the situation was very sketchy going on. but I was just well that's fine you went. into it you got scam I'm just very. curious how he got in contact with you. in the first place it was a friend of a. friend so it wasn't really I didn't know.

the person yeah you took out 400 or you. took out 300 from ATM who knows where. that went he took out 600 from an ATM. who knows where that went spicy boys. going to spicy boys Lucky Lab coffee. Spotify subscription uh but actually not. too much in this overall state. really not too crazy but that was the. older one it's not really an opera no. this is the updated one oh okay sorry. okay yeah that was the new one yeah so. but there's. I mean it was not really an opportunity. for a lot of money to go because not a.

lot of money came in yeah so I'm glad I. wasn't spending but crazy then acorns. you have an acorns. subscription. yeah I've I haven't like an investment. here's like a hundred dollars in that. account so it's not really something I'm. to. um using too often okay. I think I have like a five dollar. deduction every month or something like. that but it's just kind of a good set. aside. Capital One Another checking account. yeah. okay I don't have an updated one for. that yeah that one was like monthly so I.

wouldn't I wasn't able to pull a new one. so for the month of February. I did it started with 100 ended with a. hundred that's yeah. sketch that's usually like my primary. checking account right now. and I know some people are really good. out there with having low balances. because they manually pay everything but. most of us were on automatic payment so. that's where it automatically sketches. me now. oh. okay.

so from here let's see what we got going. on we got Kirby Lane going out to eat. there the grackle all the Morado Cafe. and now when you add these together it's. a lot more lots of parking a new coffee. tifs treats pot belly some ramoon coffee. so and now we're paypaling out again now. it's really starting to add up PayPal or. I'm sorry P Terry's. Texas. low income that's my paycheck oh okay. okay. raising canes.

UT food UT food Top Notch coffee dude. okay for someone who barely makes. anything and you're living in one of the. more expensive places in the United. States. and you're taking out student loans to. go to school you're basically you know. in a way you're taking out student loans. to pay for all this. not necessarily because my student loans. paid directly to my tuition so but do. you understand what I'm saying yeah if. you weren't spending all your money on. this book so you could put.

do that you have to take. out it's mostly food so I have to eat I. just need a. you can you can get groceries. [Music]. P Terry's first watch Lucky Lab no you. don't have to go to Lucky Lab no you. don't have to get burgers and fries from. Peter's no you don't have to go do this. that is not the kind of calories you. need to have summer Moon coffee and. Zilker Brewing yeah is that necessary.

for your caloric intake to survive on a. monthly basis Whataburger Medici spicy. boys love spicy boys I don't think. that's necessary for you to survive pot. belly Thundercloud Subs oh good because. thunder cloud Subs absolutely suck the. horrendous I don't know why people like. them but it wasn't that it's actually. thunderboard cop fee sourdock. level credit. what is that level credit oh that's like. my like reporting Credit Agencies like a. 6.95 is what the charge is like it I.

report like my um utilities and oh okay. stuff too probably rather you use. something like fizz but that's fine P. Terry's. Food Service. so this is almost like every day going. out to eat so first checking account was. like. now I'm like deaf. and what we're borrowing because we. can't afford to go to school somehow I. wonder why. okay and then we have University credit. u savings.

okay so we put any 800 bucks a little. then we took out 700 and then we took. our 800 okay then we put in 500 then put. an ether I'm very confused they have to. do with the check the situation any. balance 109 yeah. okay so you don't have savings no. okay. there's nothing left other than credit. cards. there's no more checking accounts right. uh that I see. um. or savings. I believe there is one more tracking.

account do you know what it's called Uh. First National Bank. but that one's not really used too often. but I don't have First National. but it's not used much no not really. yeah I don't have a on the first batch I. sent you if it's called First National I. don't have it. for convenience nope all right well yeah. there's not usually like a hundred. dollars in there or so so it's not. really much all right. card let's see what's going on here. oh I don't see the bounce or anything. all I see is this is just your purchases.

yeah so that's like the first I think. that's the first build with the updated. version I think you has the charges on. it that for that no balance. what it just has the charges but no. balance oh okay yeah yeah so this is the. updated version so um yeah the balance. that's just the way it came out what's. the balance what's owed. I'm assuming there's that yeah well I. mean I just paid it off I can tell you. right now though but you just paid it. off you know entirely but most of it. yeah. yeah because uh the first Discover bill.

I sent you didn't it was just me making. One debt payment and then I ragged up. that those charges which I just paid off. and so what's the balance on your. Discover Card yeah right now my balance. is 130 oh okay have you been paying any. interest. yes but it's like a couple dollars. still not good. and then if we weren't going out to eat. enough we have Chick-fil-A Spicy boys. menu coffee and Lucky Lab coffee the new.

coffee Chick-fil-A I ruin a coffee. you're Relentless dude I make better. espresso out there than Olive I need to. invest in a coffee machine oh yeah. definitely you can get a great brewville. thank you Mom uh espresso machine that. is perfect for starting espresso 500. bucks not that you can afford that right. now but with all this coffee adding up I. bet it gets the 500 real quick. and you just have to get beans. Chase oh no that's the chicken Capital. One Quicksilver balance hundred bucks.

okay. yeah you paid this one off good good so. there's not outstanding dead on there. again where are we going out to eat. enough I don't know but we're definitely. adding dominoes El Dorado Cafe bird. biscuit I've wanted to go there the new. coffee bird biscuit Medici top-notch. Burger biscuit and Panera Bread fruit. biscuits really good you should try it. out I want to but I'll be doing it. without any bad debt. or without trying to you know borrow.

money to go to school Blue Cash every. day from an American Express New Balance. 126. so you paid this off as well so. it's a New Balance so I'm assuming. you're paying it off yeah buddy what are. we doing Whataburger Medici ubereats a. food service. tacos tacos summer Moon. klarna oh yeah it's like a fine I know. what it is what's financed uh it was my. cousin's wedding gift it's already.

already paid it off it was just like 50. bucks you can't afford to get if it's 50. bucks and you can't afford to get them. you don't get it I had to get him a gift. if you can't afford it you don't do it. Lucky Lab carf coffee and you're also. paying for it on a credit card by the. way you're paying your debt with the. debt the new coffee bird biscuit. and some Lounge 30 bucks dude you're. obsessed with spending money you go out. to eat twice a day plus coffee at this. point that's pretty much right yeah. I mean I I I right now I don't have a.

lot of time to cook which is one reason. why I don't oh off but I definitely. know that my spinning food habits is. something I really wanted to address. there is time to meal prep once a week. there is time to push Brew on a seventy. dollar. um. Keurig machine. you have time. don't vote for me if you vote for me.

here at the table We're not gonna make. any progress. don't for me. so I've looked at Discover Capital One. and Amex so let's go back to your. previous email dude you have so many. different things it's absolutely wild. Chase Freedom let's see uh you didn't. fully pay this one off. but yeah and you lost 277 in interest. making just small it's kind of small. purchases but across a bunch of cards. Whataburger but new coffee the new. coffee Medici Medici those are coffee by.

the way and. El Taqueria though oh it's tacos here's. another so Southwest let's see what you. did here. you did pay out so I'm glad you're. paying it off I'm not going to beat you. up for that but I'm going to beat you up. with this the crate austinpolitics.net. what even is that. um neighborhood twenty dollars my. spending rate Association and then The. Insider newsletter. for City politics.

did we look at Capital One. okay we looked at Capital One Amex. discover. I have two okay so Capital One Venture. again 100 you know within the 150 200. range of purchases you didn't fully pay. this one off so interest charge 315. with these small little interest I. wouldn't be surprised if we were losing. like 50 bucks a month on interest. bringing in only two thousand dollars on. a monthly basis post taxes guess what. we're going to emergency we're going to. Burberry biscuit haven't had enough of.

those birds in their biscuits and combo. Bob's and Lucky Lab coffee and P Terry's. and summer moon this is like a. Austin wishlist of just spending endless. money on here Apple credit card. 277. that was like a refund for a hotel. for my cousin's wedding that was. refunded and put to another card so it. was. it was put on my car but we put it on a. different card so it was refunded okay I.

I I do see that. Automotive something oil change car. um. brake replacement then you have a few. subscriptions it looks like. yeah what are your subscriptions three. subscriptions. um one of them is like an apple. watch care and then. um Paramount. and then. I forget what the other one is how much. I'm not sure mine is always like hinge. Premium Plus. because I'm desperately single.

oh. okay and. Lowe's credit card you have a Lowe's. credit card yeah so my uh I thought I. call him a condo last year and it have a. refrigerator so I finance the. refrigerator on that Lowe's card you're. not fully paying this off you're only. putting 100 bucks to it it's almost paid. off no point it's almost paid off but. why not just pay it off didn't have the. money you know why you didn't have the. money bird biscuit because I'm poor no.

oh what are you talking about what do. you mean that's gonna piss me off. because you're poor you've spent more. than triple what the balance is on here. on bull some food. on both I mean to some degree what do. you mean what do you mean well I need. food to live how do you just say that. again even though we've clearly talked. about last time how you can meal prep. for a fourth of the cost on a weekly. basis maybe a fifth or a sixth of the. cost on a weekly basis what is this you.

need food you did not need bird biscuit. for your caloric intake on a daily basis. to survive. yes sir thank you so no you don't have. this because you're poor you have this. because you're prioritizing your. spending on what you're throwing down. into your gut three times a day coffee. in the morning then you're getting lunch. and then you're getting dinner. usually I'm angry at the debt but I'm. angry at you for saying that.

what is this. what is this. Freedom 2515 dollars. yeah is that correct uh if that's the. updated version I mean I paid it off. like I oh it's paid off like oh because. we looked at the chase anyway yeah oh. God how's about to just die. then we have lots of student loans. are those all the student loans yeah. yeah to my knowledge. 3500 plus 2253 plus four thousand five.

hundred plus two thousand two hundred. plus five thousand five hundred plus two. thousand one hundred thirty seven plus. five thousand five hundred plus two. thousand thirty two plus fourteen. thousand plus twelve thousand. oh buddy it's a lot of student debt you. got there 53 622 I can't see what the. interest rates are oh of course at the. top of the page it says what's the. current balance yeah. [Music]. look up great uh well because they're.

deferred right now I can't see what the. interest rates are yeah they kind of. vary I think some of them like the. unsubsidized ones are like maybe two or. three percent are not anything. ridiculous but they're not. they're not being paid well it's like. the highest I really don't know they're. all federal yeah. that's a lot though they're not going to. be forgiven. probably not. and you also have a mortgage which is. very curious I do it's a very cheap. mortgage where's this condo yeah so I.

actually got this condo last summer. um through the city smart housing. program I think I saw one of your videos. someone on here said they were in a. smart housing rental but this is a. ownership unit so. um. Yeah so basically it's just subsidized. housing and it's income restrictions. yeah it's income restricted so you can't. make more less more than a certain pers. like threshold where in town is it ish. Allendale.

kind of burn it 22-22. that's cheap I mean it's a studio it's a. 400 square foot studios it's the only. thing like super perfect. um you think a studio is a good purchase. oh right there I mean I lived in the. studio literally across the street and. it was fine and I actually no I know I. just wonder if you're gonna get like a. return on this investment I'm not. looking forward to all the way out there. no I'm not really looking for a return. like and I can't really make a return. off of like a income restricted unit. just because of its nature like it's. um it's only.

it's. um the increases are like 2.5 every year. so it's like not. it appreciates 2.5 each year instead of. like the market what do you mean. guaranteed how does that work because. the city has certain guidelines and they. say it's worth 2.5 more than it was last. year no it's just like you can't you. can't appreciate more than 2.5 so I mean. like the for instance like this unit was. first purchased by I'm the second owner. it was purchased for 99 000 and was.

resold to me for 106 000 so in those. years it's I would not put my money in. there why did you do this because I was. paying 1200 for rent in this subsidized. unit and I found this. this is cheaper but now you have money. locked in there as something I cannot. appreciate with where I embellish on. Austin in the long-term future not. within the next year or two but you're. locking your money into something that. is not gonna not giving you a good. return but not even keeping up with. inflation barely.

um in normal times you know you're on. like that three percent. yeah I mean the main thing for me was. just trying to secure housing but also. affordable housing no I get that I do I. just wonder if like the temporary thing. also you could have easily paid your. rent if you weren't doing all that crap. with coffee and okay it comes down to. your just where you're allocating your. money your budget has to be like 75. Medici coffee biscuit. yeah. yeah. 733 a month no monthly payment that's.

fantastic I mean that's well I mean it's. fantastic for the area I mean it's. unheard of. it is. unfortunately. the 36 of your income so it's still way. too high and you're locked in but we. need to get your income up you're about. to graduate that'll help with things. what is the interest rate on this thing. though like three point oh yeah five. yeah 3.875 okay good I'm happy you're. able to walk in there. thing I'm very iffy about this how much.

did you put down. not a lot I mean I definitely. a couple thousand dollars trying to. think back exact exact numbers but um. interesting maybe like five thousand it. wasn't really like I said a lot it was. just enough to qualify and then really. didn't know this was a thing this is. really curious in Austin specifically I. mean my realtor said that she had never. seen a unit that low and as someone that. hasn't worked in real estate and helped.

people find housing I never found a. price out so it was kind of why I jumped. on it it was just like yeah why not oh. but I do see your point as far as like. you know investment I never came in with. came in with that mindset as far as you. know where am I putting my money at but. you only have a few thousand dollars. locked in anyway. but one thing I will say about my. mortgage is that it is my principle is. like less than half of my. my interest so I'm definitely wanting. once I get more well it's because you're. at the beginning of it yeah I wonder you.

know put more towards uh maybe I mean. it's under four percent I don't know if. it's worth it mathematically speaking. because 10 of the S P 500 which is the. average will beat four percent every. single time that that's the math behind. that that's only if the money goes. towards the S P 500 and not the extra. money that you'd put towards the. mortgage is going to coffee and bird. bird biscuit is that it. um I believe so. I believe so as well. student loans are my main concern but I.

don't know what the interest rates are. yeah I'm not sure why they don't show it. on the screenshot I sent you but so it's. actually not my main concern right now. your minimum monthly payments with the. mortgage and what the student loans will. be coming soon uh and then obviously. with what you're spending it makes no. sense for income so what we need to do. is immediately are you job shopping yet. no because I'm kind of hoping to stay. where I'm at as far as the non-profit. but like not in the same job though have. you had conversations yeah and yeah. they're they're definitely open that.

they want me to stay and transition to a. different role to about what kind of. income that's still you know what do you. think I'm shooting for 60 65. okay. if you do that. the thing is from here. there's a lot of if ands and buts. we'll just have to be curious because we. haven't had this in an episode right now. what is very clear I mean you've already. borrowed everything and put it towards. the student loans so there's there's no. more to borrow. and there's no more you can okay.

it's already done it's already done I. also did just get my income tax return a. few days ago and paid off a lot of my. credit card debt but you had credit card. debt what you had credit card debt debt. that you were not paying off fully oh no. no oh well I carry a balance like a. small balance every month so I was just. why don't you carry a small balance on. every month. sometimes I don't either have the full. amount of money to pay everything off. okay you're not a credit card person. chop them up you're not a credit card. person it's fine it's okay.

there's nothing prideful about being a. credit card person you just can't use. them totally chill do everything cash or. since you live in the Modern Age debit. card tracking it via budgeting app I'd. use the the card that I recommend a lot. of people here I'd use the Fizz card. helps you budget and also helps to build. credit score so you're taking advantage. of the things like you'll get it with a. credit card but without the negative. things that you are dealing with like. losing interest.

don't use credit cards anymore pay them. off stop budget budget when do you. graduate me and then right after that. you should get that new job within the. month. good I mean several so let's just say. sixty thousand dollars okay good. because what we need right now well. first of all right now what you should. do because you have no savings and. that's incredibly risky especially. someone with a mortgage even though it. is a cheap mortgage. you need to.

says so cheap. probably only do like. 12 to 15 000 emergence fund but you need. it's so risky that you do not have that. you need to save up for that immediately. you need to cut back everything that is. not gas. and a few hundred bucks for groceries. and then you know all the you know any. kind of insurances that you're forced to. have and then your mortgage payment. other than that no more and I I have. absolutely no hope no offense but just. from the conversation you're saying well.

I have to eat until 75 I have absolutely. no confidence that you'll cut back on. that which means I think for the next. two months I would try I would try to. build that up as quick as you can you're. not going to be able to the two thousand. dollars. um. like not too much you probably only have. a few hundred dollars left over you'd. probably save up about a thousand over. the next month unfortunately I don't. think that's gonna happen so. realistically you'll have no Savings in. two months when you start your job when. you have the sixty thousand dollars. though what do we do. it's disease you're probably probably.

like. after taxes. usually I'm pretty good at guessing that. about like four thousand little under. that in the monthly basis you'll have. which is great so plug double. yep so that's sweet. you are allowed to allocate two thousand. dollars of that to needs. you shouldn't have to. so your rent or your mortgage is 25 I. would minimize everything else. try to have your needs be about 35.

percent. of your income. at that point because you don't have an. emergency fund everything else needs to. go to say about fifteen thousand dollars. for a six-month emergency fund. then boom you have it after you have. that then what needs to be assessed is. what are the interest rates on some of. the student loans if there are ones that. are over four percent you kill them. immediately you don't have fun that cost. money you're not doing Medici or bird. bird biscuit you're paying them off but. anything below that what I will allow is.

fit 50 on needs technically because. well the thing is I'm like yeah but. should he be spending money on funds. should he have a fun category when he. has. this much in debt. home and student loans being 150 000. like should he have fun yeah I think so. for the home for the student loans. maybe maybe not so I would probably try.

to minimize your needs category to 35 40. of your income then. I would probably do about 20 on wants if. you really really want to I try to. minimize that as much as you can this is. me being generous and then 40 should go. towards investing 40 20 and 30. so I. mean if yeah yeah yeah I mean I. definitely want to get into investing. and I know that it's something I can't.

really do right now because I don't have. the money to begin with but uh that is. something I am like looking at as far as. in the near future I know I have to pay. um the student loans once I graduate I. think I have like a six month grace. period or whatever but um you know at. the end of the year at the late at the. earliest I'm gonna have to start paying. those back and I ideally would like to. have like a fun kind of already. established where I can you know use to. supplement those payments instead of. just coming directly out of my paycheck. every month but what do you mean like.

kind of like start in that grace period. kind of start working on building up. some kind of a little bit of a. like a like a fun to to kind of help. ease the burden of my. my loan payments when the time comes at. the end of the year it's like a. stockpile of money on the other side. that it gets withdrawn from. potentially yeah just because I'm. thinking of like depending on what my. expenses are at that time like I don't. know if I. if I budget correctly I should have you. know money to pay for it but just in. case I don't have. money I can have that to kind of use as.

a buffer until I can kind of start or be. allocating my okay either way your life. comes down to a couple things from here. does. he have high interest on some of the. student loans number one once a free. line out. we attack it depending on that two can. he budget so far you have shown no. potential budgeting the fact that you've. said twice now that I have to eat as a. reason to go out three times a day for.

coffee and then two restaurants. I unfortunately have no faith. in that but I why I have hope I want to. have hope please you're at a point where. you're halfway through the best decade. of your life to invest if we can just. get the emergency fund if you can budget. and you can start investing and pay off. any High interest loans that'll be good. and when this car I wouldn't go for a. new fancy car not even close to now with.

the kind of car that you're looking to. get with sixty thousand dollars it's not. going to be in your income bracket I'm. sorry this is not unless you save up. just a bunch of money on the side but. that money should probably be going. towards investing or paying off debt. instead. Tesla keeps cutting the prices Maybe. but as of now I'm I mean I'm sorry but. no once you get to 80 to 100 then okay. we can talk about that we're starting at. 60 don't even put the idea of a new car. in your head you're not in a place to. I'd rather get rid of the student loans.

before then I'd rather you invest before. them you need an emergency fund before. then but. I don't know I don't know I'm nervous. man I'm legitimately nervous I feel like. a lot of the people that I talk to who. are in their early 30s they are where. you are now and they didn't change. anything I don't want you to be them. I don't want you to be on this show in. six years when you're 31 and you're like. the person that I just interviewed. before this it was 31. none Good. Financial shape I'm assuming.

it's never budgeted just as an endless. amount of high interest debt and that's. where you'll be because you're spending. more than you make right now. yeah I am and that's something I like I. said I have a spending habit and I. actually there's one credit card that I. just opened up recently that we didn't. discuss that I put stop you're not a. critical person use Fizz debit card or. use your own debit card or use the. envelope system budget It's relatively. new. and it's a resource that I partner with. because it can help a lot of people. especially in your situation but in the.

end it's about you. I want to know be as realistic and. honest about your own mind as possible. tell me what's going to happen from. leaving here. so leaving it here I definitely want to. cut back on my spending I think I I I've. been more aware of it now especially. coming to here and and you know do I. need to buy this right now kind of. mindset and.

you know I I can say I've already have. it I've only spent once money today and. so I'm gonna I'm gonna make sure not to. spend any more money today I'm gonna go. home and eat at home. so. um. I think it's gonna take some time I'm. not gonna like cut back I would say. immediately even though I know I wanted. it's I guess. hard as a habit it's a hard habit for. having a cake it's hard. um but why not like act like you're an.

adult. should I just like cut my credit cards. that way and I don't have a credit card. person I mean that's fair because I. think it's kind of one of the things I I. kind of use justify when I. spending is just like oh I know I use. this card last time I'm gonna use this. other one so it's not on the same one. but and because I have like six it it. just like I rotate and I mean a part of. it is because I don't I don't make. enough money to I guess pay for the for. whatever I'm spending because I'm. putting on my credit card so I think a.

an issue that I'm kind of worried about. is when I do receive more income is I. want to make sure I'm using it. responsibly and not digging a deeper. deeper hole and so. um right now that's kind of where I'm. like hoping to kind of have some. guidance as far as you know actionable. items to to start considering at least. now when I'm you know in that space. between. um you know lower income and relatively. higher income best piece of guidance. right now is learning what the. priorities are where the money should go. and then budget according to that so use.

a budgeting app with any kind I use. rocket money I used to use men they're. both great you can use Dave Ramsey's you. can use anyone you need a budget. there's a lot of budgeting apps maybe I. should make my own I don't know but. you just need to learn how to budget I. mean I have mid I just and I do have. like you know some budgets I just don't. follow them yeah exactly a budget's only. as good as you follow yeah so actual. setting good budgets I think is where. I can work on I think I I'll definitely. I mean I've lived at Frugal live I would. say up until now okay up until now like.

we know when I was in undergrad and I. was really roughing it and like making. you know twenty thousand dollars and I. definitely did not have. the money to be spending like I am now. but I think over the pandemic that's. kind of where a lot of have the money. that you're spending now well I know but. um yeah this the pandemic definitely is. kind of added another layer of. complexity to this but I'm kind of. hoping to just bounce back from it. excuses excuses I I I need to eat I need.

these calories specifically that cost. ten dollars a meal three times a day. including coffee. he's essentially subsidizing his entire. life with student loans and that just. kills me I am not opposed to the most. disadvantaged people necessarily taking. out student loans when there are no. other choice but he is abusing that. system well not necessarily abusing it. that would be yeah whatever either way. he's just digging himself in hole and. it's bad hand Hammer Financial score. two out of 10. make sure to check out.

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