The Dumbest Couple I’ve Ever Met | Financial Audit

He sees zero APR and he's like, "Oh, we. don't got to pay anything at all.". 21,000. Is that 21? Huh? 21. I thought it was 20. That's news. News. You signed up for it. News. Well, that's why we have the credit so. we can buy the things we can't afford. You never get anything if if you don't. go into debt at least a little bit. So, you both agree to be. What are we doing? What the. doing in this family? Hi, my name is Sam. I am 26 years old. Hi, my name is Michael. I am 20 years.

old and I'm based from the real Grand. Valley. and this is Financial Audit. Thanks for coming up, guys. So, good. A married couple. If I'm not. mistaken, you guys have recently gotten. married, right? Yes. Cool. How's how recent? Uh, so we got married April 6th. Are we in the honeymoon phase? Yeah, we're still less than two months. Okay. Okay. So, fresh marriage. So, finances in general. Obviously, that's. what the show is about. Getting into. this together. Have we combined our.

finances yet? Have we done anything? We have. And that was just recently, like less than a month ago. We actually. I added him to my account. Added him to your account. Okay. And how. are we looking from the couple's. standpoint financially? So, definitely combining our finances. It has helped with um with I guess. paying off debt little by little because. now we're not thinking by ourselves. Now. we're thinking as a couple. You guys are thinking together. Yes, we are. I mean, we have our our different.

opinions, but we're trying. What are some of those different. opinions? So, I am more frugal when it comes to. money. I'm more about saving. I'm more. about planning for the future. And um. he's more about spending um mostly on. electronics uh vehicles. Yeah. What's what's spending on just like. getting a new iPhone constantly or? Yeah. It was just recently I'll say. since November actually just barely got. the new phone, an iPhone 15. Something. comes out,

I kind of want it or not not basically. want it but want to upgrade what I have. So I've always I've always done that for. years. And how do those conversations. go? Typically, I am more like I am okay with what I. have. I don't need the newest iPhone. I. could stay with like for example, I had. this Mac from 2015. It was a very old. one. And he convinc Well, okay. No, I. needed a laptop, but I I didn't want. something that expensive. He was more.

like, "No, might as well go big or go. home." So, we got the newest. Yeah. She. prolonged it for a very long time. So, we actually got it. You won with the biggest and better. Yeah, I did. Okay. So, obviously we have debt as a. married couple and we'll go into it and. it's a pretty thick stack. Uh how how do. these in general though when we're. talking about our financial future, we're talking about paying off debt, which seems to be the objective, which. okay, good objective. How do these. conversations go? Where are we in terms.

of agreements and disagreements headed. into this conversation? Um, so I'm more about get like getting. the debt to zero as fast as possible. Whether or not there is um I guess like. a zero APR, it doesn't matter to me. I. want to get it to zero. Why do you want it to get to zero so. quick? Um because it it it's more it's like a. weight on my shoulders and I don't like. looking at how much I've acred. He sees. zero APR and he's like, "Oh, we don't.

got to pay anything at all until. we could prolong as long as we still. have time, a couple months without. interest, you can have money in your. savings, stack it up a lot more until. the very end." You know, once we come to. the very end, you can pay it off. But until then, you can relax. And I. tell her like, "Yo, we're reacting.". Yeah. You can relax. Why are we relaxing? We have, if you have 18 months with no. interest, all you have to do is a. minimal payment till the very last month. and then you pay it off. How much is in. your savings today? My savings. Uh. well, are we are we together or not?

Well, our savings are together. Okay. So, how much is in your savings? You're all savings. Okay. So, no. Before we got together, I. had a savings. No, no, no. How much uh we we can talk. about that. How much is in your savings. today? Couple group. Zero. Okay. And you said, "Well, it's okay if. there's 18% until no uh interest until. it's due." One of them literally just. started acrewing interest this month. So, I think that argument is invalid. Which one's Which one's that one?

We'll get to it. We'll go through them. But that argument immediately. Mhm. Like, okay, I could vibe. I could vibe. Well, we got to take which which one it. is. But once it comes to it, then yeah, we got to take it off from our savings. to pay it off. How much is in your savings? We have zero in our savings. So, how are we paying off thousands of. dollars? Well, but that's what that's why it's at. zero cuz we paid off some cards. Okay. and that was on telling you you. can relax until the time comes. But one of them just hit the interest. period. So that didn't work anyway.

Um so I I believe Okay. I don't think we. thought it through, but I believe what. we paid off was were ones with zero. interest instead of tackling with. Wait, what the why? Um. whose decision was that? And mine. I didn't tell them. I didn't even know. Didn't even. I didn't even know. She's just like, "Hey, I paid off three credit cards of. yours." So this is a good. and I was like but two of them had no. interest and for a while longer. combining it sounds like we combined. into a dictatorship.

with that kind of you know. to be fair to be fair he signed up on a. property without me knowing. what. yeah so. how much. our property is valued at 120 that's. what we purchase. what does we purchase that's the price. but at the end of the day it's not what. we're going to pay. without her knowing though 120,000. I have just told her I told her I was. like, "Hey, I'm going to go look take a. look at this." And I just went ahead and. got it. I didn't even get a text or anything. He.

just said to look. You went and looked and bought on site. Yeah. The first day I was there, I just. I chose. when you took out debt for it. Uh it's owner to owner financing from. there. Okay. So, you took out debt for it. Yeah. Cuz the owner. Yeah. We are not on the same page. At the. beginning, you were making it sound like. this was going We're only like two three. months into this thing and we're take. we're doing things with debt, taking out. debt, paying off debt that is not. acrewing interest when there is debt.

that's acrewing interest. without each other knowing. What is. happening guys? What the is happening? So most of that the whole without each. other knowing happened before we got. married. So now we're married and now. we're in it together. So when did it happen? When did the. property thing happen? This happened in like December of 2022. And you paid off some of his debt. I did. Without him knowing before you guys were. married. Yes. No. After we're married. Oh, well, you just said it was before. Mhm.

This is confusing. Okay. That's okay. That's okay. Let's. diagnose. Let's go through. the property was before. Okay. You guys live on it? Yes. Yes. Okay. Okay. What was it? You bought like a. house? What? No, it was just a property in empty lot. by itself. Okay. And you've built something. Yes, we have built something. We built a. frame house, a 24 by 36 in it. How many square feet is that? Whose. square feet? Square. It's like uh 860 square ft.

Smaller size. You guys aren't killing your each other. The what? You guys aren't killing each other yet? No. In 800 ft? No. No. It's pretty big. It's bigger than a studio. It's bigger than a studio. And Wait, you bought the property? How. big is the property? The pro the. property is three acres. So we buy three acres, we build a 800. square foot. Well, that's what we can afford. Yeah. Well, then if that's what Okay, but like. Okay, this is what I'm thinking. If.

we're buying 3 acres, we're likely. thinking more about staying there for a. bit. Mhm. Yes. So future proof, right? It is a frame house. So when we're done. with it, we can sell it. and move it out. Somebody else will purchase it. I got to. look at. So we have I I have planned towards the. future with this. It's like on bricks. so it could be lifted up and moved. Uh. wait, why have I never heard of this? Am.

I dumb? Do I have a bit of dumbness? Do we have that? Cuz I'm even searching up framed house. and nothing. What you guys are talking. about is. just put uh house on bricks. House on So the bricks are the base. They're the like. the base is wood, but it's lifted up. It. It's on bricks. I just have pictures of brick houses. Oh, what you guys? All right. So, between the between the. dirt and the house, there's bricks. No, I got that. But I'm just trying to.

look up examples because I've never. Look up a frame house. Frame house. Yes, you did. Yeah. Yeah, it was pictures of houses being. built. Okay. Well, this. frames of houses. I search frame house. and I'm getting aframed buildings. Okay, this is I don't think this is working. Do you guys have pictures of your house? Um, not on. Okay, not quickly. Not. how much was the property? The property um what I ended up. financing with owner financing was. $117,000.

And how much was this framed house or. house on bricks? 800 ft². It was $37,000. And someone has to want. to buy this 800. foot house if you are to sell it. Yeah, it it will sell to move it. You do sell it on a loss though. Sure. Yeah. Framed house. Why am I dumb? I There's. going to There's going to be something. I feel like I'm being dumb right here. So, it's not it's not a trailer. No, it's not.

It's like the next step up from a. trailer. Okay. Okay. Like an actual house. Don't confuse it. for a storage room. Okay. You can see them outside Home Depot. storage houses. It's a storage like little storage. garages. No, I'm saying don't confuse it. with that. Well, don't Okay. Yeah. Well, I'm. confused. He's confused regardless. And I love real estate. I'm like in a. good amount of real estate, but I've. just never heard of this. So, I really. feel like I'm going to look like a dumb, but I I can't. Well, I don't know. So,

I'm going to count down from 3 2 1 go. And on go, I want you guys to give your. household financial score. Zero being. the worst, 10 being the best. I want to. see where you guys self assess at the. same time without hearing each other's. answers. So, I'm going to go again. I'm. going to go through two one and then. you're going to say it at the same time. On when or after one? On when? On when? Zero being the absolute worst, 10 being. the absolute best. on our house. Household financial score. You guys as a. married couple. The house the purchase of the property. house. Your guys' financial score as a couple. Okay. As a couple, which is where you are. Zero being the.

worst, 10 being the best. 3 2 1 4. Wow. So, you think you're basically in. an incredible financial spot? Yeah, I see a path forward. Path forward. I'm talking about where. the are right now. You think you're in. You think you're one of the best? You. think you're like basically like Bezos. level? No. Okay. Well, you never told us what 10. was. I said 10's the best of the best. The best of the best. Yeah. All right. 10 being who? If Jeff Bezos. is eight. No, no, no. I'm just saying like 10's.

the best of the best of the best. It's. like you have everything's 100% perfect. You are in the best financial situation. that's ever been invented in zero is. like the worst financial situation you. could ever be in and you think you're. eight. Okay, if you want your hammer. financial score, it's free in the. description below. Let's do this thing. Let's look into. some of the monies cuz we got some weird. debt card things happening here. Well, Fargo who Okay, are we on each other's. accounts here with the cards? Are we. like authorized users? What? What? Okay.

So, who has the Wells Fargo? Me. Reflect Visa Platinum. You. Okay. Let me. do some columns then under Sam Wells. Fargo. Okay. How are we paying for the debts. combined? Like, how are we choosing. which ones are paying getting paid? How. are we doing any of this? We There's no plan. It's justice. Guys, you set me up so optimistically at the.

beginning. How's there no plan if we never talked? How long were you guys engaged before. you got married? She's paid off the the ones that have. the least amount of money in it so far. Okay. How long were you guys engaged. before married? Four months. Four months. How long were you guys dating before. engaged? Four years or five four years. And you guys never talked about a plan? No. No. Cuz we were very separate when it came. to our finances. So it wasn't until we. got married then we. that is a critical conversation to have. before deciding if you want to spend the.

rest of their life with someone because. it's it's a it is a strainer on. relationship finances. We're in a. capitalist society ladies and gentlemen. Like this is this is a big part of a. marriage. Just cuz it's awkward to talk. about and it's separate at that point. doesn't mean we don't talk about it. Let. me take a quick detour from our usual. money talk because I've got something. equally important to talk to you about. What happens when life throws a. curveball and you find yourself injured? Now, if you're thinking, "Caleb, injuries? What's this got to do with.

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Wells Fargo, what do you have? You have. Okay. 4,120. That's not a insignificant. balance by any means. 54 the minimum. payment of 42. You're purchasing. It's a. 0%. But you're purchasing. You're just. putting a higher balance on it. Um I believe it's just. you put a big payment towards it. Yes. But you're still purchasing. Why? Um it's I think it's just for a storage. unit. That's about it.

So you guys did not build a big enough. house. Really? You have three acres and. you're paying for a storage unit? No. The reason I got the storage was bec. Okay. So from the beginning, we'll start. from the beginning. So the credit card. was open because of a a business and. that I wanted to start. business. What business? It was supposed to be a coffee cart um. like selling espresso uh drinks um at. markets like outside. Okay. Yeah. So that's why the credit card was. opened. Okay.

But then um I got really busy that I. couldn't keep up with it. So I sold um. uh almost everything. However, this. How much did you make? No. No. It was so busy that you sold the. business. Yeah, I couldn't continue it. It's not. that I didn't want to. But if you sold a successful busy. business, I didn't sell the business. I I sold the. supplies. Equipment. The equipment. How did you not make any? I understand not making a profit cuz. it's like used, but what did you get. from the sale?

No. How much? Really? Nothing. How? Oh, you just gave it away. No, I sold stuff. I sold it like just. 2,000. But you spent 10. 10 what? Thousand? Yeah, the supplies. I mean, you can just mention the. espresso machine. The Yeah, the supplies. Yeah, the ingredients. How much was it? Oh, I don't remember.

Like it was like this business. 2,500. How'd you get too busy? Too busy with. what? I got a job. So, this wasn't working very well then. No. Yeah. It's just that I still needed. a job. I still I still had stuff to do. So, you weren't going the. entrepreneurial Okay. No. No. That was just like something on. the side. Um because I had. $10,000 sign. Yes. Okay. And. you ended up getting jobs, so you sold. it for pennies on the dollar.

And then we still have the big card. Yes. H I mean the promotional balance. ends in October. October's going to be. here before you know it. We're already. of June. Yeah. And I I could have paid it off, but I used it on his credit cards. instead. Used what? The money that I had the money that we. had. Um but I got rid of three of his. credit cards instead. How much did you have? Uh I had like six 6,000. And you use $6,000 to pay off.

his. Is that going into the marriage? Okay. Yeah. What was the strategy behind? Because. you put it at the 0% car. Okay. Yep. It was move it storage. Yes. And that's all that gets charged. there, but I don't use it for anything. else. It's just. 92 bucks a month. Yeah. Again, 3 acres. We were able to build. whatever we wanted. No, no, no, no, no, no. The storage was. to put all the equipment in. So, you still have more equipment. Um, I share it with my parents.

Some personal stuff in It's personal. Do your parents give you money for it? No. Then sharing it with their parents. Why. aren't they paying in? Because um my parents work at Move It. Storage and so they get a discount and. because they're giving me the discount, I just paid that cuz it it would have. been more expensive. So it's a manager. discount cuz he works there. You also. my my my dad. I'm being told from the producers you. didn't pay 6,000 to the cards. You paid. 6,000 to your parents. That's a different 6,000.

He had an additional 6,000. It's some. Yeah, this is a mess, guys. This is a mess. No, six. Where was the six from? Where was the. total 12 from? Uh, so the six that I gave uh to on his. cards, um, that's from wedding gifts. Oh my god. We got from the wedding. And the other six, the other six was from my savings that I. gave to my mom. Would you Okay. For the wedding, you built the savings up however long. How long? How long it took me to get make the. savings? Um it year like years.

and it went to your mom. Okay. Yeah. U for the wedding. This is going to start a crewing on. this. Where'd you get 5,000 3,000 to put. on this card? 5,000 to put on this card. Where'd you get that? I don't remember. No. No. Where'd you have $5,000? I don't remember. I just. What? I don't remember. Even I even Bezos I bet knows where he. gets 5,000 from and just spends it. That's an insane amount of money. 5,000.

Where did you what what do you think. about this dude? Did Did it from the other loan that we. have? The one that he hasn't moved forward. from. Just burn me like that. from a different loan. So it's not even. 5,000. Yeah, that was a personal loan. From the 20,000 loan. No, I'm asking where this $5,000 came. from that you put towards this card. Please. Um for Yeah. From the 20,000 personal. loan. $20,000 personal loan. Yeah. Is there interest occurring on the. 20,000 personal loan? Oh, yeah. Yes. And you put it you put money from a a.

crewing in personal loan to a 0% card. In what mathematical way does that ever. make sense? It was just 0% and we. I wanted to get rid of it, but I. obviously. you put it on something that's gaining. interest. What? Wait, we combined some other law. Wait, do you even know this? Yeah, I know about this. And what do you think? You thought this. was okay? Who decided this? Did you guys. group decide this? No, it was me. What do you think? What's. the interest on that personal loan.

interest rate? I think it's over 20. Oh, 21. All five of that came from that. Yeah, it was like leftover. And this. there's parts of the loan. That's $5,000. That's what as 0% and you. literally traded it for 21%. Base. What are we doing? What the Where? What logic was there? There was no logic. That was emotion. You wanted to get rid of this. What? What was the thought? What was even the. thought? What was the thinking?

Getting rid of it. What? But what was the logic behind the. way you did? I agree. Get rid of it. But on 21%, what. were we doing? Um I don't know. I just thought that it. was like. No, no, no. Tell me what the what is the. logic? We we wanted to combine other payments. all together in one. We consulted. 100%. No. Yeah, that makes sense. No, it's like me. It's like taking. I have a 3% mortgage on one of my. rentals. It's like me taking that and.

taking the balance of that and putting. it towards something that has like 25%. interest instead. It's like getting a. 25% interest mortgage instead. Who would ever do that? Yeah, I could have given the 5,000 back. to the loan. What? Like that would have been a better. choice. Oh, but I think it's cuz I just. One of the most insane things I've ever. heard in the history of the show and. that is a that's a statement cuz we.

record a lot of these things. Am I going to die? No. That's just one card, too. That's crazy. You proud of that? No. You're smirking. A little smirker. It's uh coping. Little cop smirk. Get them all the time. You're not credit. card people. Use the his card, dude.

I think I'm okay. Use their charge card. I think I'm okay with credit card. But but that doesn't make any sense. You. said this was your card and this card. had a massive and the card had a $10,000. balance card. Hey, had a hey, it had a $10,000 balance. and you literally paid it, transferred. it to a 20% debt. And you you you want. to say right here, right now that you're. okay with credit cards. Just one card. It's $10,000. Is $10,000? What do you do.

for work? What do you do for work? I am an assistant manager. How much do you make? I. 20 20. It it it varies. How much do you. make a month average net? What hits to. your account? 2100. about a month. So 5 months of your earnings is. insignificant. 5 months of your earnings. is nothing. That $10,000 card is nothing. It's a lot of work. Yeah, it's a lot of. working. You're just like, it's just this. It's.

just 5 months of my earnings. It's just. a half a year of my entire life. In what. world is that anywhere near acceptable? We're trying to look at it. No, in a positive way. No. Why? That doesn't make sense. Let's. live in the real world. Listen, it's. good to look at things in a positive. way. It's also okay to acknowledge. reality. If you just look at something. in a positive sugarcoated candy world, then you're never going to make. progress. You're just going to lay. around getting sugar high all day. You. know, we're not This doesn't make any. sense. There's no sense that have just.

been made. Doesn't make any sense. Okay. Okay. 2,200 a month. 21. What do you do? What do you What What. What do you do? Me? Yeah. What do you do? I'm a driver. Uh I drive uh drive a. semi-truck. How much do you make a month net? What. hits your account? A month? I make 2400.

I'm still blown away. I I honestly like. I'm going to get like war shock PTSD. from this episode. That was that was a. that was You just hit me with a nuke. Oh, both of you guys together net make. $54,000 a year. Yeah. Okay. I mean, through your earnings, you'll make more than that through the. rest of your life, just statistically. But.

as far as a household, you're definitely. under the household median for the. United States, which I think is like 65 now, 65,000. But you guys are younger, not in your. 30s. Yeah. You're like mid. You're like. on your way. So, it's not necessarily. like terrible. I'm just like, and for. your area, it's also lower cost of. living area, which is nice. But. I know why I paid off his credit cards. I remember. what. h.

what. I remember why I paid off his credit. cards. Tell me. Um because the monthly minimum payment. was kind of taken away from what we had. left over at the end of the month after. all the bills were paid. So I figured. attacking those we. were they the smallest debts? They were. So but like I. So you're trying to snowball? I don't know what I'm doing. I just I. just know that. I just know that um by getting rid of. those we got we had like um another 200.

left at the end of the month. You want to nuke my brain and give me a. heart attack? Apply. Apply to be on the show. kalepam.com/apply. Continue. Sorry. That was it. Okay. Let's talk about a second card. A second card. Who has a Lowe's card? That one's That one should be mine. It has you written all over it. I feel. it. This is a man's card. I have a whole deeper one, too.

Really? Yeah. Okay. Okay. What are we on here? Uh, is this paid off? Yes. Was this one that was paid off through. the thing? That was one of the three. Okay. It had no interest for 18 months. 18 When When was that supposed to end? That was recent as of last month. Well, this one would have had deferred. interest, it looks like. Uh.

so, oh wait. Uh. what was the amount that was owed right. there? No, there was no deferred interest. Um. but it was at basically $2,000. Well, what what did we get to $2,000? Because. yeah, paying it off with like this pool. of money, that's great. But without. learning anything that could still in. the land, you can still bring it all the. way back up. Wait, but you didn't pay it. off though. You said you said you used. the consolidation. Yeah. So, this is again on the 21% interest. rate of death. Wait, what the $2,000? $2,000 that that was interest free is.

now acrewing interest. Oh my god. When was the interest going to end on. this thing? Because you paid it off. Do. you guys know when it was supposed to. There was a late fee. I don't know how, but there was a late fee before you even. paid it off. So, I really don't think. we're learning any lessons. There was a. late fee on here, guys. Late fee. Come on, someone speak. Um, that that's his credit card. Him.

Oh, so we're not we're not together. anymore. We're not combined anymore. No, we're combined. Oh, which is why I paid it. So, we're combined. Wait, I don't I don't give Hey, you want to see it? There it is. I don't But I don't give the monthly. payment. I just paid it off. There it. is. I think this is for you. Let me see. Yeah, you did some 0% financing with. Lowe's, but it's gone. What was it? What. did you do? What' you do? I think at the time I might have been. changing jobs myself and I just missed.

it. No, no, no, no, no, no. What' you. purchase? What was $2,000 on the low. car? Oh, we purchased our washing machines. for the house. and. the dryer. Yeah. No, but this but the the washer and the. dryer were gifts. No. They they were, but we use some of that. money for the wedding. So So we can have. money to pay people or pay whatever we. had to pay for services. I purchased the. machines on credit card with the Lowe's. Okay. So we were my my my dad had given.

us money to buy the washer and the. dryer. I didn't know money was taken out. of there for. Wait, where' that money go? You would. have paid it off immediately then. I went to the wedding. I didn't know that. How much was the wedding a couple months. ago? I don't have a total because my mom was. in charge of that. What? Well, who paid for it? [Music]. My mom. And then she needed like another. 6,000. So, I took it out of my savings. I I want to say it was about maybe. Who said who who.

when we were planning the wedding, who. said, "I'm going to pay for it." Who was. responsible? Who was assigned. responsible to the wedding? And she was. like, "I need $6,000 for my 26year-old. daughter.". Yeah. For this wedding I agreed to pay for, but now I don't have it. What the. responsibility is that? Yeah. Oh, that's So you then So the money from. whose dad? Whose dad gave the money for. the washerd dryer?

My dad. Her dad. And then you gave it to your mom. I did. I didn't. Um did Oh, I'm so. sorry. That's okay. But we bleeped his real. name. People use fake names. It's okay. We don't have to We don't have to be. scared of the name. We'll bleep it. again. Oh. Oh, what did I say? No one. knows. You'll never know. Okay. You gave it. to the mom. To her mom. Yeah. So, you gave her dad's money to her mom. See? And I didn't know that.

Did her mom even know it was the money. from her dad? Are they married? No. They're divorced. Even better. That's I. bet that would be. spring or did they did they know? No. Do they know? No. No. Your dad? Yeah. Your dad doesn't even know that the. money he gave went to his ex. No. At least. he was at the wedding though. Can we call him? No.

Okay. It was worth trying. Oh, now that Then no, that was the little bit of drama that. piqued my interest. Like I like every. once in a while I like I have a little. drama queen inside of me and that that. was that would be interesting. I want to. see how that would have. played out. But will there be their reaction? We know. So you didn't know he gave the. money? I didn't. Why did you give the money? Cuz she was paying for it. Um she was. bringing funds together. She was. bringing more funds together.

What do you mean? She said she would pay. for it. Or did she say she was. fundraising? No. Pay. What the is doing in this family? Okay, we have a discover. Who has the. discover? That one's also mine. Wait, no, no, no. This is a personal. loan, right? Oh, yeah. That's Yeah, mine. That's the one we were talking about. Is it in both of yours names? No, mine.

But we got rid of some good ones. Is. this the person alone we were just. talking about? The 20. Yeah. You 20. 21,749. Is that 21? Huh? Is it 21? I thought it was 20. What are you guys? What are you guys? Hey, that's that's actually news. You signed up for it. News. That's crazy. She thought the 21 was an interest. Keep.

up that cop smark. Keep up that cop. smark. $21,74941. We used it all. Yeah, that's good. It's funny. No, she thinks it's funny. She thinks it's. funny that you guys are going to be. paying off debt for thousands of years. to come. It's in a fixed um monthly payment for a. certain amount of time. Yeah. Yeah, it is a $69510. minimum monthly payment. That's great.

When we make $54,000 a year, guys, at. 22% interest rate of insanity, kill. myself debt. Like that's just like ruin. ruin everything. You zero, you were not. acrewing interest. on all those debts and you were like, hey, let's instead. lose 22%. cuz we wanted to bring all the minimums. together. That doesn't matter. You're losing 22%. No, but we weren't able to make any.

minimum payments because of his. motorcycle. His motorcycle was killing us. Then get rid of the motorcycle. Why did. we ruin our life for a motorcycle? That's what I said because he doesn't. even use it and then it's travel. in. in a car. In a bus like I don't care. That's a motorcycle ride, you know, weekend. Yeah. What about the rest of your life? It's just one motorcycle cycle for the. rest of my life. That's it. What do you.

not understand that you're at 22%. The. the best case scenario you're getting in. the stock market S&P 500 is like 12%. return. That's if you're putting your. money in the market and it's 12% on. average. 12% on average. This is almost twice as much as that. going right to the bank, taking out from. the bank. You. It's a three-way marriage between you. guys and the discover. Okay. Both of you, you're getting pegged. by the discover.

Um, the the motorcycle still messed up. Oh, yeah. He's not even done. Yeah. Just You're seriously This is just. a meme. This is just a meme against me. This is I'm in a nightmare right now and. I'm going to wake up and I'm going to. show up here and never have this. convers. What do you mean messed up? What's messed up? What's messed up? The front shock went out and it's like. $2,000. I was manly enough to know what. that even meant. But just does it drive. like Oh, it turns on and drives, but the.

front suspension is not working. basically. Should you drive it? No. Okay. So, you're not doing your little. weekend rides. Weekend rides. So. to reconvene real quick, we uh a thing. we can't drive is what prevented us and. from. being able to get out of debt easier and. not have interest rate that wasn't. But.

because of it, now it sits there unable. to be used and we're losing 22% on our. money every year on $21,000. All right. Did I summarize it correctly? It sounds about right. Guys, it is finally time. For the past 6. months, I've been working on what I. believe is the very best investing. course that can be found anywhere on the. internet. I worked directly with a team. of financial professionals who helped me. distill my own personal investing.

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for the. Why don't you buy it when you guys can. afford it? If you if you're literally. not able to make minimum payments, you. can't afford it, right? Isn't that how. that works? Isn't that basic math? The after the purchase of the property, I had a hard time paying it. Okay. Then you couldn't you couldn't. afford the property then. I decided to we'll carry on and see what. we can do. So then so then you chose the property. and you have to get rid of the bike. Like you have to make an adult decision. You're not 18 anymore. You're 28. Even. 18, you're an adult with decisions to. make. You're not 12 anymore. You're 18. You make the big boy choices.

I I don't want to sell it. I don't want to let it go. Yeah. Well, I don't give a That's the. That's the That's the Those are the. words of a child. Like, that's that's. not how this works. If you can't afford. it, you cannot afford it. Did you guys. at least talk about this? Um I I did mention to him to get rid of. it and he didn't want to. And that was it. That was the extent of. the conversation. I still don't want to. get rid of it. That's it. I'm keeping it. But but if it were up to me, I would. have. Is the point of this then? If you're not. willing to take any sacrifice, be a man.

There's other sacrifices I've taken. Yeah. Like adding a 22% debt to you guys. and ourselves over for years to come. Well, to be fair, he also has gone into. debt because uh we needed to build the. house, too. So, that was a huge hit. But. we wanted a place to live. So, the house. and you couldn't rent because no one. lives in renting places. Uh, I just. didn't find it a good idea to Well, I don't agree with renting cuz you're. paying for somebody else's. Sure, but right now it mathematically. makes more sense across the entire. country almost. I don't.

besides a few regions, mathematically it. is cheaper to rent right now. But cheaper to rent? Yes. Pontious. Yes. But you'd never own anything at the end. No. What do you mean at the end? Do you. got Are you guys dying next year? I mean, look, we're paying into. interest. Paying a monthly rent is. paying to nothing. You're everybody's. gonna they're going to pocket whoever. owns that place. It's cheaper right now on a monthly. basis per square footage across most of. the places right now in the country to. rent than to buy because of where.

interest rates are and where property. values have not fallen to the point. where it offsets the interest rate. hikes. It has not adapted because people. are holding out of their properties. Inventories across the nation are not at. the standard like uh monthly allowances. of uh how many homes are on the market. Like how much is the what's your minimum. monthly payment on this property? $1,500 a month. You I know for a fact in your guys' area. you could have gotten a two-bedroom for. like 1,200.

A mortgage house. No, a rental for two years. Guys, if you. can And anyway, it just really comes. back to if you can't afford it, which. you've admitted to not being able to. afford it cuz you couldn't afford the. minimum payments. If you can't afford. it, you cannot afford it. So, it doesn't. matter if it makes more sense. financially having a mortgage eventually. over the course of a long period of. term, which by the way, none of your. payments are going to paying off the. principal right now anyway. It's all. going to interest. So, it's not like. you're making any progress anyway. Get a.

mortgage later down the road, but we're planning to refinance it. hopefully soon. Sooner than later. What interest rate is it at? Well, we have we we're just planning to. look into it. What interest rate are you at? The. interest rate on the property is like. 12%. [Music]. Guys, mortgage rates are like at 8%. What are your credit scores? Well, it's a owner to owner financing. They put their own. Oh, that's right. That's right. And they. swindled your.

lives. I'll be honest, I did not think this. conversation was going to go this way. headed into this. I'm almost impressed. Um, wow. Wow. Wow. Wow. Wow. Wow. Wow. I'm happy with the house, though. Oh, fantastic. Great. Thrilled. I'm I. couldn't be more happy for you. It's cute. Oh, great. That's awesome.

Why' we do owner financing? Um, at the moment when I when I. purchased a property, I was jumping from. different jobs and then I we I didn't. have the. the job history in order to get a. mortgage for the property or a building. mortgage. That would be. How are we doing this refinancing? How. are we getting this mortgage? You just give a down payment of $3,000. I know how that works. How are you guys. doing it? Like what are you planning to.

do? What job history? You haven't been. in a place for two years, but you can. prove two years of job history. But what. about you? Are you guys going to be on. it together? Are we doing duel? Okay. Obviously, our debt to income ratio is. not fantastic. Have you guys gotten. pre-qualified? No, we're we're almost at two years. What's your credit score? My credit score right now is at 630. What's your credit score? Last I checked it was 695. Yeah, if you.

can qualify, you should get a better. rate. Maybe like 10%, 11%. Why are we. trying to refinance for the better rate? For a low lower monthly payment in less. years, what's the term for this guy? It's at 30 years right now. So, you wanted to do like a 15-year. mortgage. 1520. Why? It's a lot less years. Like, if you make. the math, 30 years, we're going to be. paying a lot of money. Yeah. But also, if you're just at a. normal interest rate in general, like. you I mean, I'm assuming that let's just. say you even get at 8%. I assume if.

rates ever go to like four or five, you're going to refinance to four or. five. Even if still, if you're doing. that over the course of 30 years, put. that money in the market, it makes twice. it on average. So, like, where's the. math working? And we're just not math. math ain't math. Okay, so we took out the personal loan. No late fees on this one. It's a 21% 22% interest.

Discover it. Who has the discover it? Who's the whose name is under it? Cuz I. I have both have a discover. That would be Michael. I This is mine. Discover. So, we did not pay this one off. No. No, we haven't at $10,656. That was to uh build the house. to to finish the interior of the house. on a credit card. We don't got the money.

It's to finish. She just said what did you just say? What did you just say? Cuz we didn't have the money. What does that mean? Can someone tell me. what that means? The the frame house wasn't completely. finished. We still need to change. Oh, no. No. Can you tell me what what. she just said means? to to say it again. to charge the credit card. Say no, no, no. Say your statement. again. That we didn't have the money. So. what does that mean?

Um because we couldn't afford it. So what the guys? Well, that's why we have the credit so. we can buy the things we can't afford. Are who wanted to come on the show? Me. She did. Okay. So do you know much about the. show? I don't. Okay. Thank you. Because if you did watch the. show and you said that. Mhm. I would have gotten the baseball bat. from the other room or the taser and I. would have stunned you and then beat.

you. Yeah, we don't use credit cards for. things we can't afford. I mean, this is. overall bad finances 101. I mean, you're. using someone else's money and then. you're paying it back with interest. The. minimum monthly payments were stacking. up. But you would get a house out of it. A livable house. A livable house that you guys both. admitted if you sold you're getting a. loss on. That's if we would sell it. We're not. going to sell it anytime soon. That's what you said. Yeah. Well, you build a house for. $38,000. But doesn't mean you're going.

to get $38,000 from it. once fully finished. It's essentially a used thing if that's. what I'm thinking. Yeah, you know, it's not like an actual. like not from the full amount cuz you. know that's besides the $38,000 the. house cost. We still needed to put. $10,000 into it. You couldn't afford the guys when you. went and got the property. You could no. longer afford your minimum monthly. payments and then we went and got a. credit card to finish up the home. You. guys have just walked into just the. absolute just you have not you've just.

your finances me guys. Okay. Sorry. I'm just a bit taken back. It's an interesting. $10,65611. How'd she convince you to come on the. show? It was an argument. Really? It was. I didn't want to come in the show. Oh, well, thank you for being here. I'll. be easier on you because of that.

Thank you. Um cuz he doesn't know the show. He's worse. Did he watch the onboarding. video at least? No. The you guys Why did we send people that. if you're not going to Why didn't. No, I watched it. Why didn't you watch it? Tell me about it. Girl, did you not want him to know what. he was signing up for? No. No. Yeah, he knew. He's He's seen. snippets. He's not absolutely oblivious. She plays your show when we're in the. kitchen. I I play it in the kitchen and I'll have. it. and he's there.

You should have seen You're saying Door. Dash a lot. Don't worry, you're not going to see. that here. No, but what he's going to see is. McDonald's. McDonald's. McDonald's. from my rally credit card. Oh, Riley. Don't go easy on him. He He knows what. he's doing. You But you're not afraid of debt the. way that I think. No. Why? Cuz if you don't owe it if you don't owe. it, you're never going to have anything. You got to go into it. Why? If you hesitate, you're not going. to have anything. See, I agree with him to that like to.

that extent. Like, hold on. That didn't just make sense. Yes. You have to be into debt. If I was scared to buy a threeacre. property, I would have never had it. But okay, you're talking about taking. advantage of leverage is kind of what. what you're talking about. Like getting. a mortgage on a property is kind of what. you're talking about. to to get off to get ahead. Is that what. you're saying? No. Like you want. You mean you have to go into credit card. debt to get ahead? Well, yeah. No one's ever said that. to own it. You don't think that? You've watched the.

show. You do not think that. to a certain extent. I kind of do. No. Yes. How How does that make sense? You're. losing value on it. You never get anything if if you don't. go into debt at least a little bit like. that's. No. Why agree in that? But so you both agree to be done. What are we doing? So why why can you not buy thing? I. understand not being able to buy a house. in cash. I absolutely understand that. I. understand. You don't go into credit card debt for a. house, though. I mean, you guys did. somehow, but most people Well,

you're not supposed to. We purchased the material to finish it. No, I I get that. But you're talking. about that you can't go into that you. have to go into credit card debt to get. ahead. Is that what I am being told. right now? To own it? Yes. Yes. Um, you is this what you think the. average home buyer does is take. The average person has debt. has debt, but you think they go into credit card. debt for the house to finish a house. What's the difference between that and a. building mortgage?

So, if you're talking about So, you can. do some kind of loans, right? You can do. some kind of loans where. there's. a house that is valued at $200,000, but it's really out of date. So, if it was completely up to date. based on comps around it, it could be. worth $500,000. What did I say? Worth it was worth two. 200 200 in its current condition could. be worth 500. Uh but if you put 100,000. hours of work into it, meaning you spent.

$300,000, it would be worth that. $500,000. So you could get a mortgage of. that three or you could get a. essentially a mortgage of that $300,000. Some of it would be a renovation loan, but it would be all put up into the. mortgage after it's done, meaning that. you owed that $300,000 on now what is. worth and appraised at a $500,000 house. Okay, you put this on a credit card that is. different. What's the difference? Those. are usually assessed at just normal. mortgage rates. Say 8% right now. This.

card and credit cards are usually. buddy. Some of this is at 0% that's. going to end in a couple months. Some of. it. is at 30%. And in a couple months it's. going to be at 30%. 30% versus 8%. There. is a gap there. People do not have to go. into 30% debt to get ahead. In fact, it. is not going to get you ahead. Why? Because most of any investment, real. estate, it's going to, you know, it's. going to go up 4% a year on average. Say.

you collect rent, say you even get the. best cash flowing property, maybe 12%. cash on cash return. Include the. increase in mortgage, let's say, or in. um value. Let's say you're getting at. the best 16% a year. Still, that's half. the interest rate that's on here. So, you're not getting ahead. You're getting. the bank ahead. You're not helping. yourself. There is good leverage. There. is good leverage. And what is good. leverage? Things that you can easily. afford in your minimum monthly payments.

Things that have 20% down payment on. like a mortgage. Things that have low. rates that you can you're beating that. interest rate in other investment. opportunities. You're not beating this. in other investment opportunities. 30%. Name me an investment that on average. gets you higher than 30%. None. Okay. So, no. Uh, your logic is. completely flawed, guys. No one to my knowledge to my knowledge.

Maybe I'm just dumb. Call me out, but no. one to my knowledge has ever said you. need to go into credit card debt to get. ahead. I've never heard that once in my. life. Not once. Well, and I've read a. lot of the finance books. Once the house. is finished, the the the value of the. house goes up along with it. You haven't. even talked about. You said you said you said you would. sell it for lower. No, that's when it when you have to sell. it after you paid it off, but you can. get a loan out of it. Oh, that's even worse because then.

you're overleveraging yourself. Then. you're getting a loan that's higher than. what you could sell it for. You get a property and a house mortgage. after cuz the house is already there. You go you go refinance. But if you sell the house, you're still. you would still lose on the house. No, the house stays there. But if you sold it, you would still lose. on it. Yes. Okay. That's also not an investment cuz. you just lost money. Guys, what are we. doing? What are we talking about? I understand what you're talking about. in getting a a collective mortgage on.

the loan on on the property and the. house itself. But if we're putting money. at 30%, which you're already losing 30%. on this in a couple months, so there's. that. Plus, you're also losing value. It's only worth what you're able to sell. it for. And if you're selling the house. at a loss, like then let's add another. 10% on this. This may as well be 40%. interest. Like. you're making other people money right. now. In reminder, just a reminder, we. couldn't afford this in the first place. cuz we had to consolidate our debts in. order to get a minimum payment in a.

better place that we could afford. But. in reality, we also made it worse for. ourselves long term because we put it in. an interest rate. You guys are so newly. married and you've gotten yourself into. a a situation that's beyond more. dangerous than you could ever know. Where did we learn that you need to get. credit card debt to get ahead? I need to. know this cuz you both agree on this. I just thought that's the path forward. Where did you learn that from though? Just. I just saw that path. I saw that's how.

to I could I saw that I could put it off. pull it off like that. If I couldn't get. a mortgage to build a house, I decided. to use my credit cards. to build a house. What did you hear from? I I just things I've seen or like. experiences like. what? So like if. um I mean no one in specific, just. living. great example.

Um, so basically, um, I kind of came to that. conclusion because if you need something. expensive, it's very hard to just have. that money laying around to go and buy. it something you need like a house or. something. You got you got to get a loan. of it. Yeah. Use 30% credit card. We're talking. about an 8% mortgage. So, the problem is because it's on a. credit card, not because it's the actual. house. Yeah. I don't I don't there's not many. even Dave Ramsey who's the most. anti-debt person's like get a 15-year. mortgage you know like he's even talking.

about it he talks about paying off early. which makes absolutely no sense but. that's okay. I took it as just debt in general I I. didn't think it mattered like where. what other expensive things. just anything even let if you even scale. a piece of jewelry even if you scale it. okay. piece of jewel a new MacBook computer or. a new computer. That's okay. That's why that was on the Best Buy. Yeah, that's okay. Um, that's okay because we couldn't afford.

it. So, we. pay it off. You didn't pay it off. I did the Best Buy. You haven't gotten to the Best Buy. That's the one of the That's one of the. three cards that she paid off. Did you pay it off or did you use the. personal loan? No, I paid it off with my money. Like my. What money? We haven't talked about. this. Or some other savings. It's just income. There was more savings. Our finances are. obviously mixed up. Well, guys, this is such a mess. Okay, so we have a little bit of.

interest on this and there's going to be. a lot of interest on this. In fact, let. me give you just an estimate cuz you're. only putting the minimum monthly payment. towards it. So, it's not like you're. doing really anything extra. Let's say. in a couple months, actually, it'll be. about $10,000 on this. In that yearly. basis, you'll be paying $3,000 in interest a. year on this card. You're losing $3,000. Okay. Who has the city? Simplicity. That one should be also mine.

I paid that one off. That's credit card. number two that I paid off of the three. So, you paid off the 5,9009. with a personal loan or a savings? Personal. Then you didn't pay it off. You. transferred it to another debt. And. what's interesting about this, you took. another 0% interest one. No, no, no. At least the other ones had. No. The other cards that you could have had. interest. No, no, not with the personal loan. No, it was with the wedding gifts.

Wedding gift. How much wedding gifts did you get? It's quite a bit. And. how much? 6,000. 6,000 maybe. This was 6,000. And you said you paid off something else. with the wedding gift. So math isn't. mathing once more. No, no, but I was. still working. I mean, I'm working. I I. put a little bit of money on. You're telling me this is paid off right. now. Right now. This is at zero. Chop up your cards. You guys cannot do. it. You see, that's what I told him, but he. gave it to his dad. You said you Yeah, pull this. You told. Noah 2 hours ago that this was not paid. off. I don't know if Mike could hear. him.

Two hours ago on the phone. I might be confusing with Oh, hold up. I told you. No, no, no. It's this one. Sorry. Wrong. card. Oh, the one with a much smaller bounce. Rewind. So, are you saying so this one still has. a bounce? Yes. That's why I didn't say anything. cuz I didn't know it was paid off. When do you guys think this this uh. ends? When do you guys think the intro. rate ends on this? That one maybe by August. I I think that one's mine. Yeah. When do you think it ends? By. August. You think the rate ends? Okay. When do you think it ends?

I don't know anything about it. Yeah. It ended three weeks ago. Two to three weeks ago. Oh, that's the. one you mentioned in the beginning, guys. This is. $59 minimum monthly payment. How are we. going to survive, guys? You know, this. is we're headed straight to bankruptcy. at this point. Like, you guys can't even. like answer questions. You don't even. know what we've paid off. You think. going into credit card debt is the only. way to get ahead.

Uh, what's the interest rate on that. one? What do we think it's at, guys? What do we think? 27%. I don't know anything about it. 29.99%. You have the. Yes, I paid that one. The Home Depot. The Home Depot. The smaller one. Yes. With the wedding gifts. Yes. Do we have any of the money from the. wedding gifts anymore? No. You said your. savings are zero. So, I'm glad I at least went to pay off.

debt. We can Let's celebrate that out of. this insanity. That's what I'm saying. Okay. Don't get too excited. Capital. One, Savior One. paid off. Okay. So, the small balances. Yes. Okay. Um, from. Well, there were purchases here anyway. There was $300 of Amazon there and $260. of Amazon there. What did we get? Uh, there were things for the wedding. from Amazon. But your mom said. things I was responsible for like the.

lights, [Music]. table covers. There was some things we. we he did cover, but but it's paid off. I just want to do an example. I'm just. trying to think. I'm just trying to. think cuz do you guys have anything in. investing. stock market or anything? I have. my work one but. 401k. What about you? No, I bought some Sheba. My gosh. I'm just trying to think.

cuz if the money that you guys. if you were going into this marriage. debtree and you're able to take those. wedding gifts and put it in like I don't. know I'm trying to think like my. favorite investing platform is Mumu. It's what I personally use. If you did. that and you were able to just put it in. there and start the marriage off with. that, it would be it would just be. growing, guys. It would just be growing. But instead, it had to go to pay off the. Okay, it's okay. And then you got some.

low stuff in Dollar General stuff as. well. The interest rate of this one was over. 30%. Guys, that's me. What is it? Student loans. Uhhuh. So, you went to school? I did. What did you graduate? I'm I'm currently still. You're in school. currently. What are you studying? Social work. Okay. The income's actually doing better. in that field these days than it has. historically. You might need a masters, though, right?

I'm on my masters. Oh, okay. You're in your masters. Yeah. What has this been a conversation if he. doesn't want you to do that? No, we just. had a conversation on whether I wanted. to actually get a career in it or not. Do you want to get a career in it or. not? It's been a huge question. Um, but you're doing your masters and you. don't even know. How are you paying for. your masters? Are you taking out debt? Then. this is the current debt. Are you taking. out more besides this? That should be it. If anything, maybe.

it's another five, but other than. Oh, just another five. Okay, guys. That's it. Just add it to the pile. Yeah. So, we we don't we probably don't know. what the interest rate is yet, but it's. probably actually probably not great. right now. The minimum payment you'll. probably get on like a public student. are you going to do public? I don't. know. I don't know. But there's no. minimum payment right now. So, doesn't. matter. on one of the discover cards, by the. way, that we went through. Waterburger,

Amazon, Amazon, Amazon. $129 there, $21 on another Amazon, $64. on another Amazon, and Waterburger. Yes. Can I see the Amazon account that's. being purchased? Can I see the purchase. history? I can bring it up if you really want. Um, do you have your phone on you? Yeah, I have it on me. Okay. Yeah. Yeah. Yeah. Yeah. That's going to be fun. So, you said you. paid off the bike as well. The personal loan. The bike. With the personal loan.

With the personal loan. What was the minimum payment on the. bike? What was due on it? It was 227 a month. What was What was the total balance? It was due $7,000. $7,000. Yes. That's what was due. What What was the interest rate? The interest rate on it was at 7%. It's not great, but what am I going to. say? I know. Yeah. What? You traded it. for 22%. Okay. Okay. H. But but it helped us monthly like save. money. Water slide. You guys have a kid?

No. No. Who's going down a water slide, guys? A. water slide. He splitter. I'm trying to make a side hustle with. it. Gas kicked. What? What? Brening the water slide. No, it it actually goes hard at where we. live. How much was the water slide? Right. $1,600 a month. Uh, I'm sorry. $1,600. a month. Oh, you scared me cuz I was.

about to say I didn't mentality right. now. Well, have we learned, guys? No, it's going to work. Sure, it's it's going to work if he. knows how to absolutely if he knows how. to market it and if he's able to take. time away and take it to different. places and do all this and. Okay, it got delivered towards the. beginning of this month. How many have. you rented? I haven't rented it at all. Oh, interesting. Who would have thought? Okay. Well, it's cuz he's not. advertising it correctly. That's why. Oh, yeah. Here we go. Here we go. All.

right. Off. Come on. Shut. That's so dumb, guys. Isn't that. some cooktop? What? What are we cooking? It's uh to replace uh my mom's cook top. She not make money. No, that's just for the house. For whose house? My mom's house. Does she not make money? I ordered it. I They actually paid for. it. I just ordered it through the my. Amazon. You have a point. TV dresser, matching bedstands, wall. mount.

PC fans. Who has a PC? I do. Okay. What do you play? Uh, recently of last month, I played. Hell Divers 2. Nice. It was very fun. Some dresses and stuff. And. dresses? I no. those dresses were for the wedding. My. mom's wedding dress. The one she used for her wedding, not. hers. So you still have the bike,

right? Yeah. What's it worth? Have you ever checked. what it's worth? The used market value is like at 9,000. $10,000. Dude, you could change your whole. [ __ ] family if you're willing to like. literally be a man for a second. Okay. If I were to sell I would just buy. another one. I might as well just keep. it. It's already paid off. Why would you buy another one right now? It's not paid off. You transfer the. debt. Okay. But if I were to sell it in a. couple years or months, I will buy. another one cuz. couple years, sure, we might be out of. debt. We might have a fully funed. emergency fund. We might have caught up. in retirement. If we can do that, yeah,

I'll ride. This is I don't give a about. your weekend drive. You have so much. debt. You shouldn't be doing weekends. drives. You should be working. You. should be working. You should be. working. My requires me to be there from Monday. to Friday. Yeah, you're getting another job. You're. getting another job, guys. You can't. afford your bills. We're getting another. job. Let me gift you a certification. through course careers. Get just a a. sales job at home. A tech sales job. Anything. Do anything. My How do you. even suggest that you have weekends with. the financial state we're in? Guys, do. we not even care? Do you want kids? Are.

we having kids? We want kids. We want kids. Not like this. Well, I do admit we have to fix some. financials before we. Oh, you. decide to make some kids. Do you have any other motorcycles things. like that? Is this Is this an only child. of a bike? I have a dirt bike and a four-wheeler. A dirt bike and a four-wheeler? Yes. How much are they worth? Together. You can bring out like $3,000. They are used. Well, yeah. I had them for years.

Okay. Anything else? Any other vehicles? I have three vehicles for like that are. under my name. Three vehicles. Are they there at the house? Uh, one of. them is. where the other two. Um, one of them is in my parents' garage. and the other one my my dad uses. I. don't try to use it as much. Okay. The one that's in your take care. of it. The one that's in your parents garage, how much is that worth? That one's $12,000. How much is that ever used?

Uh, I used it to come here. Uh, rarely. used. Just for travels and maybe. I want to. What about the other one? The other the other vehicle. The ones at. our house. Yeah. Is that your daily driver? That was my daily driver. Like I call it. a work truck. Okay, that's fine. Well, how much is. that worth? That was like 4,000. Oh, my. haven't even gotten a checking account. This is a long episode. That's okay. It's okay. It's okay, guys. If you're. daily driver, sell the [ __ ] What do.

we get? Wow. You can pay off the. personal loan. You can pay off the. personal loan. And you can pay off half. the Wells Fargo card just by getting rid. of your bull. your fun things, your. little toys, your little Hot Wheels. Guys, that changes your life and you're. literally not willing to. What's the. point? If I were to say even be okay, in a few years when you can afford it or. just be a. You have it already. I have a title on there, guys. What is not what is not coming. through here?

No, I understand. I just don't see the logic of buying it. again later on. I just already have it. Guys, guys, guys. Okay, let me explain. Let me have a little explanation. Those. cars. are not going up 12%. They're not going. up 22% a year in value. You have debt. that is going that is taking 22% from. you a year. Okay? Take that debt, take. your your little toys, pay off the debt, boom, debt's gone. And all of a sudden, you just saved yourself 22% on that.

money. Then you're like, "Okay, but I'm. going to go get another one." Yeah, go. get another one when you can afford it. When can you afford it? When all your. bad debt is gone and when you have a. fully funed emergency, guys, you don't. have a fully funed emergency fund. What. happens if an emergency happens? No one. has no one's even able to answer that. question. That's why I tell her not to spend the. savings on. It's not about spending savings. Come. on. You can pay off the biggest debt. right now. That's about the whole emergency thing. The emergency fund, his solution is to.

use credit cards. That's what credit. cards are for. That's not what credit cards are for. That's what I told him. Because you're in an emergency. Yeah. Yeah, you know, you need a large. emergency fund. How are we going to get. it. via an emergency fund? We don't we don't have one. No, because you have all the toys in the. world that you're not willing to get rid. of cuz you're not willing to sacrifice. You're never going to get anything good. You're never going to actually get. financial stability without any. sacrifice. Good. Guys, it's literally just growing up.

You're basically the same age as me, dude. be an adult. You're 10 years into it. This is sad, infuriating, disappointing. It's and it's it's I I'm going to be. candid. It's scary for the marriage. She. might she might want to get out of debt. She might want to do all these things. The fact that you're not willing to make. a simple sacrifice is very telling and. selfish.

Rally Credit Union, $31 available. Wingstop. Wingstop. Jack in the Box. McDonald's. Raising Gains. Asian Beast. Row. Nike. Going inside and getting some [ __ ]. What is this? Sunrise Canteen. Military. $3. Probably going inside and getting. some [ __ ] Getting some drive-thru. $5. $6. Golden Chicken. McDonald's. Dutch Bros. Church's Chicken. LTO Meat Mark. Dutch Bros. Wing stop. Wing stop.

Another drive-thru. $5. Drive-thru. $17. Guys, what are we doing? We have 22%. debt. We literally couldn't afford our. minimum payments. And we're going to. Wing Stop every second of our life. What. is actually happening? What is actually. happening? That is unacceptable beyond. belief. I I portion a part of my pay of. my paycheck to that Reddit card for. food. You can't afford it. It's just a. portion of it. Yes.

It's a portion you cannot afford and we. just leave the rest for the bills. Oh my. I I I. don't I. You're the one that wanted to come on. I. do not know what to do. I don't know. what to do. If if we're at the point. if we're at the. if we're at the point.

where you literally think going out to. eat is even somewhat okay in this. financial situation. I don't even know. what we can talk about at this point. after the marriage I've cut down. Say. cutting down. It doesn't matter buddy. Be an adult. Be an adult. Make a. sacrifice for your marriage. Good. I don't I don't know what to do. Is this the current balance in the. savings? No, you said $0, so obviously. that's gone, right?

Um, yeah, that's gone. We use it to pay it off a credit card, right? 247 in a checking account, but we think. we can go out to eat when we have $247. Oh, good. We're getting burgers wing. rings. This is cutting back the spot. $52 cash out $5. Starbucks who we think. we're getting Starbucks when we can't. afford to live have minimum monthly. payments we can't afford. McDonald's. Amazon Amazon Amazon Amazon Amazon cash.

app out $400. Where the did that go? Good question. Oh, where those $400 go to? Noah said he got. me a gift that he's gonna give me in the. post show for all those who subscribe to. that. Maybe that he says it'll make me. feel better. I hope so because I'm going to go. This feels like someone gave me a gift. like on my table. Oh, McDonald's. except less stinky.

Goodbundle.com. goodbundle.com. That's a. video games, isn't it? No, it's an. installment thing for bills. No, the good bundles. It's for the light. bill. It's like a small subscription to. get a um a cheaper plan rate for the. electricity for the house. And it's just $10, isn't it? Twice. $10 twice. Oh. Um the other house is my. parents house. Why are you paying for. their Dude, you can't afford life. How. are you? When do you want to have kids?

Cuz this is not happening. Unless you're. bringing them into a really bad. situation. Well, I see I see a path forward. Where? cuz I don't see it. Like I said, once we refinance the house. and property, we will stabilize ourselves. How how is that the answer? It will bring down the monthly payment. You think that is the thing that is. killing you after all of this? I didn't. even put that in your debt yet. And you. think that is it? You think that's. what's holding you guys back? Well, you bring down the monthly payment. that leaves more money yourself, buddy. Not with your spending. You spend.

more money than you guys make. I've cut down since we got married. But. I'm not spending as much as I am. If this is cut down, then I don't want. to do what was happening before because. this is after you guys got married. And. don't worry, there's more. McDonald's. cash app out 10 bucks. Amazon music. Amazon cash app out $12. This is cutting. down. This is a joke. Spent $453 going out to eat. That's. cutting down. Good job, guys.

453. How much is your phone bill? It's one. It's like 3% of your spending. 4% five. 185. Guys, we own honored phones, don't we? Yeah. When you're done with that, switch to. Helium. It's 20 bucks a month. You get. the same cell towers you guys get. Come. on. We got to save money. Y'all got to. use my favorite high yield savings. account where you can get up to 4.6% on. your money, plus FDIC insurance up to $2. million. You can also get up to $300 for. signing up today. It's the personal high. yield savings account that I use for my.

money. So, don't let your money be. losing money while it's just sitting. there. Click in the link in the. description below and get those bonuses. Do you guys even know where your. individual debts went? Uh, sorry. Where. the personal loan went? Yeah. Tell me. 13,000 to for the house. Um, that we still. Huh? that we still owed to the house. We owed. 13. Yeah. The rest the balance. So, 13,000. went to the house. 3,000 went to the. motorcycle. The rest went to my Wells.

Fargo credit card. I had $5,000 in my. savings and I bundled it with the 3,000. to pay off the motorcycle. to get rid of that. besides the motorcycle. They were all, if I'm not mistaken, at 0% interest. We've now exchanged them for 22%. interest, believe it or not, is a bigger number. The the monthly payment was kindly. payments. It's it's because you got. things you couldn't afford. So, that's. when we would have made sacrifices and. we would have worked more and we would. have tried to pay them off smallest to. biggest. You guys went the easy route, which isn't even easy because you made.

yourself really in the end a worse. financial spot. How much What's the What's it What's. owed on the property? And is it under both your names? Yes. No, it's just under mine. Oh, the property. Yeah. Yeah. No, not how much. What's. owed. to the seller to the owner? Seller. financing? More than likely? Uhund $115,000. 115? Yeah. because then. and what's the minimum monthly payment? The payment doesn't go into the. principal. Um.

what's the minimum monthly payment? Like uh 1,500 a month. Well, and it was at 12%, right? Yes. Okay. Is there any loans out other than. the credit cards? Is there like a. separate loan I don't see out for the. building? No. Okay. Thank. you sold the building, what could you. even get for it? Uh, as of right now, we. can get. $44,000. for it. You have to add the You have to add what. we finished from the inside from.

Discover card. So, it's 36 plus the $10,000. and 13% went to 0% financing from your. contractor, right? 13,000, right? Yes. Correct. Personal loan. Correct. Well, because you switched that. from the personal loan, in the end, if. you pay it over the same period of time. that you were going to pay over the. three years, the contractor, you literally just charge yourself an. extra $3,000.

And you can see that example here and. how that interest works. Now, I know you. save $1,500 by paying them off early, right? Wasn't that the reason why? That's how much we saved. Yes. Yeah. But you didn't save anything. because you cost yourself if you paid it. off in the same period of time 3,000. So you save 1500 but you also added an. additional 3,000. Did we think about this? We thought we had. the thought proc the thought process. behind this was to combine the. consolidate.

consolidate some some. I want to give you some kudos. You were. right. Wealthy people use debt to get. wealthy. A lot of wealthy people do. You guys are. not doing it like wealthy people. You guys are using debt in the worst. ways possible. You're exchanging. everything for interest rates that are. beyond unaffordable for you and are you. and things that aren't even going up in. value other than the property itself, but the house on it is goes down the way. you got it. Guys,

you are not debt people. You do not know. how to use debt. Before you ever go into debt again, you. need to close your accounts. Before you. ever go into debt again, you need to. read as many books as possible on how to. actually utilize debt, on how to do you. need to become learned real quick. because whatever life experience you use. to go into this has gotten you into one. of the worst financial positions I've. ever seen. This is crazy.

And I don't even know what to say. because you're not willing to make. sacrifices by cutting down food more. than you already have. You're not. willing to make sacrifices by paying off. the debt. You don't even know what your. financial situation was. You your your. solution to the finances were exchanging. everything into a 22% interest from 0%. So like I don't even know what to do. here. Do I budget the I mean the. producers get angry when I don't make. someone a budget. So I'll make you a. budget. But like I don't think that's. even the issue. You're just not willing. to sacrifice guys. We're just we're. literally not willing to do you could. pay off the bad debt today by getting.

rid of some poise some Star Wars G.I. Joe's essentially of the adulthood. like be a man. So the total income. again. it's $4,500 a month. Okay. So the. mortgage is 1,500. Utilities, what are. we what does that cost on a monthly. basis? It's not a lot. 100? No. 200 with water and electricity and. Wi-Fi. Okay. Do you have any kind of insurance. on this house?

No. Why? That's risky. Um, I know you don't need to, but. we haven't I haven't gone to get. insurance for it. You guys are looked into it. You guys are beyond tornado alley, but. it doesn't mean like hail won't happen. And. I was thinking of getting the insurance. after we refinance the house and. property cuz we we have to in order to. get it. Phone bill. What was that again? It was something crazy. That's [ __ ]. insane. Do. we have any car payments now? Thank.

you're lucky student loans aren't your. student loans aren't accuring interest. or having minimum monthly payments right. now because of your situation. of being in school. Debt minimum monthly payments outside of. the mortgage. We already put that in its. own category. $1,10 a month. Gas driving. How much do we spend on a. monthly basis? 50 a week. for both. Oh no. That's just me. Okay. What about you?

I spend like 120 a week, I guess, for both vehicles. Uh, when I do use the. other one, actually, let's say 180 180 over a month. A month. 180 a month. Hold on. That is drastically different. than 120 a week. What What is it? Give. me a real number. It's 180 a month. Okay. Okay. Okay. And then 80 for you. So 260. car insuranceances total across the.

board. If we want to find another thing. that we could have cut, by the way, before going consolidating debt. So, and for our vehicles, by the way, you spent $330 on gas last. month. So that's what I'm changing it. to. How much? 330. together. Together. Oh, okay. So car insurance is across the. board. This is 180 for the three. vehicles. 180 for you. What about. for the three vehicles? That's her.

vehicle included. You added me? Yes, I added her car. Oh, okay. Yeah, I have car insurance. 180. Do 180 plus 50 for her car. So, plus 50. Yes. 180. Okay. So, 230. Groceries, guys. You can do $500 a month. meal prepping. Follow the meal plan in. the budgeting program that we're going. to give you guys. Take the budgeting. program. Take the investing program as. well that we just came out with. You. guys need to take it. You're not there. yet, but you can at least learn the.

value of money when it grows by taking. that. So, go through the classes. together, actually learn. You'll understand the value of the money. that's actually growing when you take. that. And you'll learn just how bad this. debt is. Okay. TP fund. Anything else. you need to survive in life? $150. Medical, healthcare, anything? gym. Uh, she has gym. How much? Like 12. Medical healthcare. Minim monthly.

payments. Anything? Uh, I don't have any. Does medications count? Yeah. How much? Uh, 113 a month. Ask what? It's expensive. It's not even medication. It's for my. gut health. Okay. You got them nasty poops? No, I got them nasty poops. I don't have any. That's the problem. Oh, can we trade? No, my stomach hurts. Mine does too.

Okay. It just gets nasty at the end of it. 125. Anything else you guys need to survive. in life that is not in this budget that. I have not mentioned? No. Any pets? No pets. Well, yeah, I do I do have a cat. Yes. And he does feed him. He just came to the house. He was from. the He was just He was. How much? 50 bucks a month.

No, less. Maybe like $20 a month. Oh, you got dogs, too. They're not ours. They're not ours. Do you pay money? No. They're the neighbor dogs keep on. bothering the cat. Believe it or not, they come for the food, believe it or not. But if you actually. follow my budget, which nothing in this. conversation indicates you will because. we are not aligned to be very clear. We're not even close to aligned. You. actually are under what you bring in on. a monthly basis. Gives you an extra. $225. $255 a month.

You. did. I did. But this, let's not even do the mortgage. even though it's at a bad rate. Like a. really bad rate. Let's not even throw. that in because usually we don't throw. in mortgages. I just want to give you an. example of how things are going to look. without making the sacrifice that you. guys need to make. Let's not include the. student loans either. So, that's just an. extra thing. I'd love to walk out with a. plan, guys, but this is like. I don't know.

Is this really the worst you've seen or. you just being exaggerated? Um, in terms of messiest and just. confusion and like understanding, yes, it is absolutely the worst. 166 months. is what it takes to pay off all the debt. besides the mortgage and the student. loans. 166 months. How many years is. that? Oh, it's only 14 years. That's it. 114 years in your current situation. without you selling your Sell your be a. man. But you know what? The mortgage is. terrible. It's a 12%. Student loans are. not going to be at a great percent most.

likely in your situation, I'm guessing. So, let's throw those things on there. Let's pay off those as well, guys. That. takes 749 months. 749 months. How many. years is that? Oh, we're paying off debt. for the next 62 years of our life. So, that's what's currently happening. That's what our financial situation. So, I'm done. Like, I'm going to be honest. I have to stick around for the post. show. That's okay. There's a gift. But, like, I don't know. You know the.

answer. I've said the answer a million. times. Go get more jobs to make more. money. Sell your rid of the bad debt. immediately. Be a adult. Actually. sacrifice. Follow the budget. You actually do have real estate. You. got a little done with it. So the score. is not going to be good. I'm getting a. three out of 10. Retirement. You're. contributing for to your 401k. And you. said you have something little, but I. bet it's nothing. Never mind. Okay. Just. doesn't start till till June. One out of 10. Great. Emergency fund.

There's nothing out of 10. Debt is. ridiculous beyond belief. if it's. stupid, but you don't have any. collections or uh IRS debt. So, one out. of 10. Spending your budget, your. spending was stupid. Wasn't the worst. I've ever seen, but it is absolutely. dumb for your situation. Three out of. 10. Hammer financial score. 1.5 out of 10. Make sure to check out. all the resources linked in the. description below. They're what I use. They're what I would use in specific. situations, including the best investing. class you can get anywhere online. Now,

stick around for the post show. Today on. the financial audit post show, I did get you this gift and I really put. a lot of thought into this. Claire, can. you go ahead and uh and present Caleb? I was going to get it framed um and. let's put it at the entrance so everyone. has to like say good morning to Dave and. good night to Dave. I like that. Like Ted Ted Lasso. To. watch the financial audit post show, click the join button below.