You’re Going To Be Surprised… | Financial Audit

to end out an amazing 2023 we are going. to partner with graham Stefan and the. money guys to talk about some of the. craziest moments we have this year and. reflect on them give our thoughts on. them and even update you on current past. guest situations so let's jump into the. first clip and we'll talk about it dude. there are people with felonies working. in fast food I promise you could do it. with a misdemeanor be uh they're. desperate to hire right now if any any. industry is desperate to hire it is. service still true what does that mean.

in terms of get fired or you existing. yeah until I like raise an issue and. then well if you decide to be a big boy. and take care of yourself you'll last. there for a. while he's not hungry enough what is. maybe I just know somebody's going to be. like oh you think you're a smart kid and. I am I have a degree in information. system so if I see a way to improve. something I'm going to suggest it and. this degree in information systems that. no one. cares we don't care SP not time on them.

what did I do why why did why do I have. a degree in operation systems nobody. cares we don't no no we don't care have. it should I go back to Texas T and just. give it back to my professors be like. nobody gives. a it's that's not what is going to. determine I mean like here's here's the. first job that I applied for job I'm. totally qualified for overqualified for. I wanted to work for the city and it was. called the office of design and delivery.

odd okay I was not expecting those laugh. tracks from the editor he threw those in. of interesting but exciting thing we. just learned Mr Taquito man is coming. back in the beginning of next year to. give us an update no way are you serious. yeah and we're getting uh security. so I like how we like half walks off. he's like just this and just talking the. entire time and then he sits back down. it would be more impactful if he just.

got up and. left kind of ruins it if he sits down. though can I share what I think the. biggest thing he's missing on success is. I think some of the the one of the. biggest characteristics I've seen out of. people who are super successful is that. they have no problem taking on. responsibilities even if it it doesn't. matter where it is in in the scale of. their skill set I remember my mom was a. school teacher she used to brag about. the principle that on first day of. teacher orientation or the day that.

teachers come on helping all the. teachers unload their car and put up. displays you know calendars in the class. rooms that wasn't the principal's job. but it just showed that they that the. principal was willing to step up and do. whatever this person is hungry. struggling to keep a job and he's saying. fast food is beneath him that that that. doesn't work and it's just not a good. he's so obsessed with this degree thing. it's like his entire life is that degree.

not his successes Beyond it I brought up. the degree a few times and it's fine. okay congratulations a fun four years. that's awesome got a piece of paper good. I love it but his obsession that's his. entire identity instead of him actually. going and accomplishing something he's. holding on to what happened 20 years ago. he gets offended if you're like oh okay. cool congratulations but actually go do. something with your life now and then he. just freaks out I don't know that just. seems like an excuse the degree is his. reasoning to get out of it that's his.

cop out I don't think it's the degree I. think he just needs a lot of humility. and he's not willing to settle and so. it's a lot easier to say oh these jobs. are beneath me than it is to really take. a look at himself and say what skills do. I have to offer what can I do because it. sounds like he can't do that much isn't. that the definition of entitlement. because of X I deserve Y and that's just. not the way that it works in the real. world and I feel like uh yeah I think. humility is the key word and he's got a. lot of self- coping I think Graham. nailed it too and the fact that this is.

his copout It's A self- coping mechanism. instead of taking accountability it's. easy just to say I'm above this so early. 2024 you guys will see an update from Mr. tequito Man himself you want a live you. look so young In that clip by the way I. know I got to. shave all right so let's look at the. next clip and then one of the reasons. that I had like a lot of loans was. because 3 months of living in. Connecticut at my current place I'm. living at without any income.

was $155,000 out of my pocket which I. did not have so credit cards and loans. and seems like a lot of choices though. this just this is just you choosing yeah. but to. get why do I have to say it like that I. mean come on I didn't I didn't the the. weight yeah you can't control that but. you can control what you do in between. it in terms of where your money is going. yeah but I had to like pay rent I. actually slip very leanly those three. months but.

I mean how much debt did you go into in. those three months um those three months. I would say 15,000 insan you lean that's. not. lean it was my my my rent not lean my. rent for a month is 3500 and it's not. overly expensive but it's not lean my. rent was 3500 yeah that's not lean. because I was that's the place I was. going to live in I don't care live in a. cheaper place mhm but then I would have. to move again oh cry the laugh track. again what so the problem was I was.

supposed to start working AUST I'm. trying to justify all this no I'm not no. we're not doing that life we're not. doing the Justified bull life well it's. incredible the amount of money that. comes in but you start with a dollar. yeah I mean I'm also trying to. aggressively pay down I'm also trying. to I think that is like pretty much the. most. classic Roundup of every conversation. last year just feeling like people had. to spend more money than they had to go.

into an infinite amount of debt for. their wants and comfort and now they're. having to pay for it finally I feel like. there's a a false sense of what actually. Living Lean is right people have this. estimation oh because I don't do this or. because I don't do that that means I'm. Living Lean I think I got this right she. said in three months she ran up. $155,000 of debt that's ass that's. that's that's out of this world and no. matter what part of the country that you.

live in if you're spending that way. you're not living lean even in some of. the highest cost of living areas across. the country yeah I like the the 90s. laugh track going on in the background. it really really adds to it uh it seems. like she also has this mentality that. she could always paid off later like ah. it's okay now because eventually one day. I'm going to get this job I'm G to make. so much money so that anything I do now. isn't going to matter that much and. 3,500 rent is just absolutely insane I.

agree with you I think she should rent. somewhere way cheaper find find a room. to rent for $1,500 a month save the. $2,000 a month just by doing that so. when I'm setting aside money to save for. a new purchase like a car or a home or. taxes or whatever I'm saving money for. like an emergency fund I'm using Sofi. it's a 4.6% yield on my money and it's. just absolutely incredible why not take. advantage of that free return on the. money that's just sitting there and. there's great bonuses for signing up all. the way up to $250 if you sign up using. the Link in the description below it's.

literally free money I use it you should. too yeah and as well she's finishing up. residency as well so she's not even in. the income position yet to actually be. able to afford that and she's going into. infinite amount of debt that she's going. to have to pay back on top of everything. else that she's borrowing for and. justifying these crazy Tire expenses in. the video as well that's just extra. context but yeah what I think is. interesting is that most people don't. realize the foundation or you call it. even the Cornerstone of success is just. understanding the power of discipline.

and deferred. gratification and everybody tries to. take their reward or get their flowers. on the front end but if you really want. to see the Empire Builders the. extraordinary people who are you're. trying to emulate and and and try to. copy their life I guarantee if you go. back to the beginning the origin story. it's a lot more scarcity Than People. recognize I mean you see it in Graham's. Story You've seen us talk about it from. our beginning story of coming from. humble beginnings and and and Caleb.

you've also shared it and I think that's. what people try to go ahead and pretend. fake it until you make it but without. even doing the scarcity or the. discipline required all right next clip. $87 and 4 cents you paid a 100 good I. was going to say I try to pay it back as. soon as I spend it I just use the car. for points how do I. start there is no points to be gained. you're losing $1150 why what what it's.

not worth me spending money in there if. I need something if I'm not getting the. point you're losing $11 a month because. you're not fully painted off why the. balance effort because this is how they. get you and it works on most people and. worked on me so everyone say it with me. you're not a credit card person it's. okay that you're not do you know what. that means that I don't use them. correctly is you you you suck at them. you suck all the at them you're terrible. at them getting money from you you're.

not getting any benefit from them. stoping around with it you what what. you're sming cuz I'm not laughing it's. just I mean I literally am laughing but. I'm not it's not funny I'm sorry what. what were we going to say it's not funny. I mean I'm aware of the situation it's. just no no no I said chop them up oh. I've done that before and you just. reorder them everything's online it. doesn't matter if it's tempting it's. already there close them yes what was. that isn't that bad to close them while. you're I don't give a sh about your.

credit your credit doesn't matter your. credit what what with the eyes my credit. score doesn't matter no because you are. losing the game Graham I love you I love. your channel I've been watching the. channel. forever this is what scares me what if. people like taon see the channel see the. credit your credit uh credit card. hacking and everything and maximizing. their credit score and then oh no I feel.

like she was the minority of people that. watched it and she was like she. obviously watch it she didn't watch it. because every single one of my videos I. always say pay off your bill in full by. the time it's due and never spend more. money than you ordinarily going to spend. otherwise so it's obvious she didn't. watch the video or if she did she. selectively deleted the pieces of advice. that would actually save her from doing. this so this is she's Pennywise pound. foolish she's spending a lot of money. think oh I'm getting points it's just.

the points but she's spending so much. money to get the points they're not. worth the money that she's spending so. to me it's just like if she watches my. videos she didn't get out of it what I. actually said at all yeah no she did not. get full contacts by any means it's just. these people I've had so many people on. the show now that all they care about is. getting the best credit score possible. and I'm like what are you trying to get. the best credit score for right now. you're not taking advantage of anything. that a good credit score gives you.

everything in the credit system is just. taking advantage of you right now and. there's so many people out there that. they they hear the magic that comes with. a good credit score and I'm like yeah. yeah take advantage of it yeah do it. then they go and they just act like. idiots with their credit and then they. kill me like taon I know a lot of people. say that though and they're and you know. they're making minimum wage they have no. savings they're deep in debt and they I. need the good credit score because I. want to buy a house soon I'm like you're. not going to buy a house anytime soon. it's more important right now to get out.

of that debt than it is to protect your. credit score I I I think we're very. similar to Graham and the fact that we. think credit card use is okay but credit. card debt no way and the fact that you. should pay it off every month but you. realize the typical consumer falls into. almost every trap that the banks put out. there for him you know it's it doesn't. matter if we're talking about the credit. card rewards it doesn't matter if you. talk about even when you go into like. casinos I mean that's banks are no. different than casinos in the fact that.

they you know create all these. behavioral incentives to let you fall. right into it and and she fell right. into that just like everybody else in. America where they're not paying it off. and they're not understanding the. consequences that will always and bury. them in the depths of debt I think the. thing that's so that's so difficult is. there were small glimmers of Truth and. everything that she said yes you can use. credit cards and earn points and that. can be a positive thing yes it can be. bad to close credit lines it could.

theoretically hurt your score and yes. your credit score does matter but in her. situation none of those things hold true. and I think that's what we have like a. grossly misinformed average public. person out there that hears these little. nuggets they hold on to and just like. you said g they do not connect the rest. of the story and actually apply it. correctly correct me aren't like when. you doing travel rewards cash back. rewards I mean you're lucky if you get. 2% I mean two 2 to 5% even if you're.

getting Redemption don't pay 25 to 30%. credit card interest just so you can get. 2% that that there's no Arbitrage there. I would say I would say overall on cash. back 2% is about what you could get if. you redeem it for travel you could get. five 6% anything over 6% is usually like. a oneoff anomaly where it turns out like. a one airline has this one little. benefit for a limited time where you can. transfer points from one card to this. and you you know you might be able ble. to get you know 8 n cents but those are.

such rare occurrences that might only. Happ once a. year there just no Arbitrage I mean. you're paying 25 to 30% to get 2% no way. on to the next. clip so how much is her credit card bill. uh $69 a month right now what's her. balance I have no idea so you don't even. know how long it'll last she won't tell. me you shouldn't pay it if she won't. tell you that's not something I want to. tell you while you're in this situation.

but I mean that's something you need to. hear if you are paying it for her and. you have no insight into it that is it. sucks to say you being take advantage of. as much as you could be yeah really and. I mean I see like I want to have a life. with her so I I see a lot of like you. know everything is like us stuff and I. think you know she's trying to like. protect me from it so it's not just. stressing me out more but it stresses me. out so much you need to know what it is. is you need to sit down and say if I'm.

helping you with this and if we have a. future together then we need to be on. the same page in order to be on the same. page I need to know what this looks like. I would say that you don't even pay for. it in general because it's not this is. not your responsibility and she does. need to put some big girl pants on and. get even the crappiest job in the world. just temporarily so she can work her way. out of it and I'm willing to have that. conversation with her on a financial. audit that being said when it comes to. your situation which is why we are here. yes you shouldn't pay for it either way.

but you a billion shouldn't even come. close to putting a penny towards it. unless you know the balance on it if she. is still spending money on it that's my. main concern what if she's racking up. more debt on it and you're just paying. for it and uh and of course interest. rate and stuff that's important to know. as well but that's scary I need you to. know that is almost disgusting. disgusting yeah um I expected that she. was going to find some work by now that. was a hard one actually felt like I. started feeling some tears on that I'm a.

co- Cryer but uh oh that poor guy he's. so nice he's so good yeah could you give. us what's what's the background on this. so my understanding is he's paying for. his is it a fiance wife girlfriend her. credit card yeah context his uh younger. girlfriend moves in with him from pretty. far away uh they finally move in. together he's paying for her card she. won't let him see what the balance is. and she won't let him see what she's.

spending money on and she refuses to get. a job he's dealing with some self-esteem. issues that's the thing it's like she is. walking all over him he probably thinks. that she's the best that he could get. and so he's putting up with a lot of. crap because he has no other options. that's really what he's dealing with and. he's too afraid to go and raise any. objection because he thinks that if he. says anything that she doesn't like she. could leave him and then he's going to. be in a worse position so it's easier. for him to pay the $69 a month it's a. sad situation to be in but he's got to.

put his big boy pants on and lay down. the law this one and just stop paying it. I think he needs therapy I need to hear. from him I need to have him back on I he. is like one of the nicest Souls I know. have her on she needs to be the one do. you think. I we've already talked to him have her. on get her opinion pay her pay her to go. on the show I want to see her. perspective why she's not showing what. is she hiding my guess maybe she's. sleeping around on him maybe she doesn't. want him seeing these charges maybe.

Hotel charges and date night charges and. she's out looking for a job late at. night there's something on there there's. something on there that she does not. want him to see and that's why I wanted. to know is this I was going to ask Caleb. for the context was this transactional. or is it a true. relationship it was framed as a true. relationship but it's impossible without. digging a little deeper I I just maybe. this is normal like courting and and. going steady relationships these days. but to pay someone else's credit C card. bill like do like when you enter into.

relationship is it common place for one. person to begin paying the other. person's bills even that seems a little. foreign to me I'd be really curious if. you follow up with him are they still. together because this certainly did not. look to me like a relationship that. would likely stand the test of time it. looked to me like someone who has kind. of found a sugar daddy I think that's. the right nen clure yeah that's I I. didn't want to say that word but that. that felt there was definitely some. context clues there um I will tell you. as the guy who's been married 25 years. um communication is the foundation I.

don't care if you're doing separate. accounts joint accounts but if you're. not talking about things and sharing. goals and objectives um you're kind of. on a shaky foundation so I think this. sounds very very transactional and not. healthy yeah and they have a big age Gap. as well he's taking care of rent he's. taking care of all utilities taking care. of groceries taking care of meals taking. care of everything and her own payments. on things it it it feels more. transactional than I like I I don't want. to assume but. what was the uh how how much is that.

total do you remember uh in terms of the. balance no no in terms of everything. he's paying like how much is he paying. every month oh I don't have that off at. the top of my head I'm sorry okay was he. in a good financial situation outside of. her or were his finances his person also. bad as far as I remember it wasn't great. it wasn't one of the worst we've ever. had but he certainly had a hole to dig. out of himself as well and this was just. an extra thing he had to take care of. had to take care. of yeah that is super.

sad H what's not super sad though is I. learned how to finally get wrinkles out. of my clothes and that's real nice so. let's go to the next next clip what a. transition I don't know how to like. explain that kind of like got kicked out. of uh like the traditional high school. so I had to why would' you get kicked. out I was at work more than I was at. school so then like TRC and then I. didn't was follow what truy was saying. and then they just ski me out cuz I was. making like $2 $3,000 a check so I was. like I'd rather be at work than that so. I was doing that yes you took out 2,500.

what is this for that was a personal. loan um I you taking personal loans in. your teens because uh dang they just be. giving money to anybody so they do just. be giving money to anybody so I went and. got more for what um just a half like I. didn't even really spend it until but. it's not just a half though back to my. car I took it to the place and they're. talking about coolant is being sucked. into the oil I didn't know what that. meant and they were talking about it's. going to be upwards of 10 grand to fix. and I was not having it so I sold them. the car for 3,000 and then I turned.

around and I bought another car and my. dad was talking about get like a get a. less expensive car I was not having that. course not I wanted a brand new car like. fresh that year so he got me he. co-signed this car for me but he said. that no listen listen listen listen I'm. listening so I get this car it was U. $33,000 and uh you this watching me for. a year I know I understand that but I. needed a car to get back and forth to. work because my original the Volkswagen. I had the 30 that's one that broke in.

Illinois no the original one was the. Lexus ct200 was the one that broke down. in Illinois and then I turned around and. bought the Volkswagen and then I'm not. going to say who's at fault here but the. car was total uh so who was at fault um. it wasn't me I know that but uh there. was both parties ran a red light one. thing I really liked about this guy is. uh kind of you and I Graham and he is. included in this as well we kind of come. from the same mindset of where we like.

to work more than go to school and I. know you have history with that and he. had history with that and I had history. with that I dropped out a college cuz I. just wanted to go make money I loved. that about him but then he diverged from. us a little got stupid expensive cars at. 18 and a lot of other debt and that what. a bad way to start adulthood you know. what I thought in the beginning this. would be a really positive clip I. thought oh we watch some really bad ones. here's a good one to throw us off and it. start off amazing I like the aspect that.

he was going and he was working and he. was making money he's blown it on cars. and then to sell a car like that uh that. might need a $10,000 repair for three. grand it sounds like he just got taken. advantage of by whatever auto shop was. there and was saw a kid and thought Oh. we could we could you know take him. he'll believe whatever he said they got. a deal on the car and then he turns. around and spends $33,000 on a new car. he may as well have just spent the. $10,000 on the repair which is likely BS. to begin with and his dad Co to I know.

well I think what's interesting is he's. he's one of these young people who is. just I feel like poorly educated just. because he could do something he chose. to do it he went out and took a personal. loan solely because he could take out a. personal loan he asked his dad to. co-sign on a loan solely because that's. an Avenue to be able to buy the car I. feel like if he would he seems. intelligent enough that if someone would. have educated him on hey here's why. that's bad here's why you don't do those. things here's why you don't go in that. direction I feel like there may have. been been hope for him except for when.

he kept saying I wasn't having that I. wasn't having that I would when you're. 18 years old I don't think you get to. choose a whole lot of things that you're. not having at least not at that age and. stage of life and he was also he said. it's not his fault on the car accident. here's the thing we we talk about all. the time that for anybody in their 20s. it's almost hard to not be successful if. you just start making good decisions and. he was in his teens so I mean there's. even more P to success I I I feel so sad. that all of his consumption decisions.

are like massive it's not like he was. drinking too much coffee or you know he. was going out there and buying designer. brand brands for his clothes he was. actually buying cars and doing other. things these are these are catastrophic. type consumption mistakes that that. really put you a step behind would you. like to feel more sad Brian say yes say. yes yeah if I'm not mistaken he lost. about. $110,000 in gambling the 18 as. well see hard work do you know how.

powerful a hardworking person in their. teens I mean that that truthfully is the. first step to being able to have the. engine of success but if he's doing all. these other things he might as well just. be he's crippling himself I mean he's. destroying any opportunity that's out. there that's. sad $10,000 in gambling at that a like. maybe maybe I want to walk back my he. seemed like an in guy and I want to be. disparaging but that.

is I don't know very many people uh. certainly none of our clients who have. made it to the level of success they're. at by starting a gambling career at age. 18 hey me me just saying hey go buy an. index fund and go fix the gambling well. what that $10,000 he lost right there 42. years 8% return. $253,000 He just lost by the time he hit. it's only a loss if he quits huge huge.

good on to the next. clip dude it kills me every time you get. me you're. my you're doing the thing that pisses me. off and I'm getting itches in places. because of this. 6,584 of purchases so that that that. card so the next two Chase Inc cards. that Bank of America card is the only. I'm the only one that has a card to that. one the next two employees have cards to. that one oh so they know I have managers. in places they need to fix a vehicle fix. flat tire pay for an oil change we have. vehicle repairs things come up uh they.

got to buy uniforms there's a lot of. expenses like that we pay for Dropbox so. I tried to give you the transaction. history for my card stuff and kind of. focus on that the rest is just they're. only using for legitimate business. expenses legitimate yes is this business. cash flowing uh no not really any of it. just the original franchise is that even. cash flowing no not really right now. it's borrowing against. receivers.

how long do you think until a cash flows. I think another year you think I don't. mind sharing Caleb I mean I think. sometimes people want to look successful. before they actually have this success. so he he felt like it was big ball and. move to go open credit card even give. credit cards out to employees before he. even knew what's coming in what's going. out and that's that's failure I mean you. you got to I wouldn't give any employee. a credit card until I was at the point.

of understanding what's going on in my. business and it sounds like he's just. this thing's all over the place it's. squirting out all kind of leaks and and. everywhere else it's not healthy he's. been pursuing this business for a long. time too and he's has been building it. off the credit cards oh yeah it's a. security company it's uh security. company so they'll do you know personal. security and security for events what. it's it's seems to me like the easiest. business to run you just charge more.

than you spend yeah and it's not a it's. so uncomplicated it's not a capitally. intensive business so long as you have. enough Revenue coming in you have to pay. employees wages and salaries should be. your biggest expense you shouldn't be. running up credit card debt on these. other things he's talking about like. uniforms and and whatever tell your. folks to wear all black clothes and. that's the uniform don't rack up credit. card debt to do that a security business. should not be one that is causing him to. run that negative or else he's overstack. or undercharging there only two options. that could be the case look if you have.

what's going to kill all three of you is. you guys all have business Grammy got. the bank roll you guys uh money guy you. have a lot of different business Avenues. uh what's going to kill you about this. guy is he would open a franchise of this. security place with a business partner. it wouldn't become cash flow positive. but then he would want to Branch out and. open another branch and then another. branch and then another Branch well. before they ever became cash flow. positive. banking on all those different.

franchises that they open within the. security uh sphere to eventually just. blow up and make a bunch of money look. we all know I know people see Amazon and. they they they they say hey Bezos was. using you know all this money and using. debt he wasn't making money for years. when you're running a security business. you're not Amazon and if you're having. to use debt you're a zombie business. you're not really profitable go ahead. and let's shoot it put out its misery. cuz that's not healthy and it's not. viable you cannot scale inefficiency it.

doesn't work at at some scale. inefficiency grows and grows and grows. until the entire thing collapses upon. itself it cannot work that way so this. idea of franchising something that. doesn't work and multiplying it out is. literally building a house of cards that. will not succeed it can't it can't. succeed so if you guys want to give me a. bankroll coffee credit card and a money. guy credit card I'll be your guys'. employees and I'll go spend up to those. limits if you guys want we go there we. go next.

clip it Work Sharp enough so you ready y. ready to do it oh yeah this is all your. credit cards every single one let me see. if you have access to. them goodness that's impressive I say. there's a few credit cards here. insane don't dropped out this many. credit cards on this. show try to beat my limit oh You' beyond. beting the limit I'm pulling the 145. right now they're also upstart no this.

one's marine or Finance look motorcycle. accident a couple years ago and I. actually what does that tell us I kind. of pulled one of these cuz I was out of. work and had no vacation time to cover. it you're in the red. $374 so and that's your budget to. survive that's a conservative budget. that's not you going eating out anymore. so this is that's without you around. with you and her combined I need an. extra $2,000 a month to come in for. there to be any hope any hope if there's.

not we're in this forever we're dying in. poverty and we're never. retiring which I'm sorry I'm sorry that. that's so negative but that's the. reality that's reality yeah even with an. extra $2,000 a. month is going to take a long time yeah. we can go through the whole process and. figuring out how long it's going to take. to payoff but that doesn't really matter. because right now we're losing. $374 a month I don't know how much money. you guys are going to bring in so we're. going to be going hypothetical yeah you. guys need to bring in as much money as.

possible take care of this and I think. yeah so I'll add some context for this. one too his wife used to work at Crispy. Cream and she brought in that second. income and then she quit it was too. stressful for her uh and now it's just a. single income household uh he's actually. working two jobs he works a day job and. then a night job just to try to make. ends meat but they're negative after. they cut everything back on their. minimum budget they are negative because. we were what 40 minutes into recording. this episode and we are still going. through individual debts which.

unfortunately has now been one uped by. another person 50 minutes into recording. we're still going through individual. that's early. 2024 but. sadly yeah no it's hard and she just. needs to go get another job but I don't. think she's willing to then this dude. has everything on his back again that's. sad when it comes to when it when it. comes to financial management there's. there's only two options you have you. either spend less money and it sounds. like they're down at the very bottom of. the barrel they can't cut any lower or. you make more money and they have to.

figure out some method some mechanism to. bring more money in if if he's already. working two jobs and he's already. navigating that there there's some. breakdown here if she's not contributing. to the household at least for a season. to get out of this debt hole something. is ay but that that's the the the. solution is so simple the hole to fill. is so simple you just got to go create. more income find a way to bring more. money into the household yeah it seems. like he's willing to make a change. though unlike a lot of other people that. you've had on the channel it seems like.

this guy really is committed to changing. a situation so I think that's really. nice and to see that stack of credit. cards I mean is quite telling I think of. his intentions going forward absolutely. I just need his wife to start bringing. in some money because I think he's. working like 60 hours a week by himself. and she's not pulling in anything and I. remember uh just now that they're they. have a roommate who's not paying rent. and he's basically subsidizing them as. well Caleb you just need to have thre's. company on your show I mean seriously. have thre's company on play the the.

theme music and then get to the bottom. of because it sounds like he's willing. to be the player that that can make. Improvement but you without Buy in from. you know the the roommate and as well as. from the spouse I don't see how this. this gets better next clip I I just. don't want to talk about the car though. cuz I have to keep the car in order to. get you don't but we've already been. over that and you can take the bus we. already talked about that insert the. clip now and then how 9,000 and the bus.

you are busing until you save up. $110,000 how yeah how would I get to. work. bus without a car you ride the bus oh. the bus yes you can take the bus but you. decided no oh no I want bus I haven't. taken the bus my whole life I refuse I'm. it's not funny to me this isn't funny to. me a negative checking account is not. funny I understand you want to be. positive but you're just not. acknowledging your situation which means. you're not willing to do anything about.

your situation if you are negative in. your checking account you cannot afford. a $17 McDonald's door Dash. delivery you cannot afford that that's. my dumb boyfriend I know I wasn't. supposed to do this but the only way so. I wouldn't show up late so I I went in. the like the alleyway and I I clocked an. F5 and then I like I went to go park my. car and that took about 30 minutes cuz I. wanted to get the free parking so I had. to wait in line so you have no job right.

now I'm actually doing a cleaning. service okay how many hours are you. working with them um hardly none but. it's better than nothing how how many. hours it's it's it's on call so if they. post a job then you accept or you don't. AC oh this is one of those like higher. aade type things it's not like a you're. working for a company where they have. cleanings ongoing that are scheduled and. they h they send cleaners out yeah I. refused to do that cuz then I had well.

you refused to do a lot of things and. guess what that made you lose a job so. how about we stop refusing things and we. act like an adult I just want to be. flexible to do the things that I like I. [Laughter]. like yeah Tyler these the things I like. yeah Tyler is someone that we've had on. the show a few times now we're probably. not going to again unless she puts any. change forward she refuses to get rid of. a car that has like $1,000 a month when. she makes z a month she gets fired from. job she won't work she's she spends. money it's ridiculous I love her as a. person I truly do but she refuses to.

change and the when we see people. literally dying on the Walmart floor in. their 90s because they never set. anything aside for retirement because. they never sacrificed in their life once. it's her how is she ever going to get. out of this CU it seems like she's. making a lot of excuses she's refusing. to do what's necessary but she wants the. freedom to go and live her life the way. she wants without having to work for it. I'm curious how is she ever going to. change that otherwise she's just going. to be constantly broke and she could. only get so broken to the point where.

she won't get any more loans she can't. take out any more credit cards there's. got to be a point where eventually like. the buck ends it's got to stop so I'm. curious what her plan is after this. every Redemption story has to have a. rock bottom I mean if you think about it. because in right now there's no scarcity. there's no fear it's all about what I'm. entitled or I'm not willing to you know. refuse to back away from this so she's. faking it until she makes it which is. going to lead to failure and I can just.

go ahead and tell her tell you that. being rich is so much better than. looking rich but she she she needs the. Redemption story of hitting rock bottom. first yeah I I don't understand a lot of. the folks that I see on your channel. Caleb are folks that I would classify as. being at rock bottom but they don't see. it how on Earth do she not see how dire. her situation is and it's almost like oh. well I'm not I refuse I'm not going to. live that way I'm not going to do that. well at some you already don't have the. freedom right now to choose the way that. you live your life but eventually you're.

actually going to lose that you will not. be able to choose anything and I just I. don't see how these people are blind to. that I don't see how they don't get that. they need to change i' say she was Rock. Bottom before this because literally. until a month before she came on the. show for about four months in between. the second and third episode that she. was on she was homeless she was living. in the car because she refused to get. rid of it if that's not Rock Bottom. enough I don't know what is and at that. point what can anyone do to help someone. I I don't know that was one of the rare.

situations and it's sad cuz again I love. her as a person she's a nice person and. she deserves like any other human to. live a good life I I don't know what. else to do and I basically have given up. on her did she have family to fall back. on like can she move back in with her. parents do you know it sounds like she. might not have a good relationship with. her parents she does not have a good. relationship with her parents and there. was even some like Financial. manipulation in the past all right that. makes sense but all the more reason to. recognize oh if I don't have that to. fall back on man I better do something.

to improve my lot moving forward and she. doesn't seem like she's in that place at. all a big indicator of success in my. from what I've seen I mean we even have. when we have people apply for jobs is. what are you willing to do that others. are not and that is not people saying. that's beneath me or that's not my job. or I'm not willing to do that that's the. exact opposite and that actually is a. turnoff to success we'll see if we allow. her to come on in 2024 but until then. next clip now this is an exciting one.

because when the money guy were in town. we met with Joseph who's been on the. show all the time this was his third. time and we gave him one final chance to. meet a certain goal and if he did I'd. give him 500 bucks and they'd give him. 500 bucks and we're actually recording. on the exact day that was his last. chance to meet that goal we said if he. got his savings to. $1,438 and his credit card balance down. to5 $100 we'd give him those bonuses. Joseph came in recorded a segment that I.

have not seen yet we're going to take a. look at it and see how far he's come. fingers crops for Joseph. yeah hello my name is Joseph with a. facial hair in the Caleb Hammer Universe. it's an honor to be a part of content. and as well as out of the money guys and. I just want to give you an update as far. as with regard to from October until now. the BET was could I get that down to. $500 on the credit card debt from 3,600.

by the way also conditions. were that the credit card down to. $500 and then get my savings up to. $1,438 nice exactly what Caleb said um. I'm happy to report that I have killed. that de that credit. card uh I did get a new one but we'll. get into that that's wait a minute to. give you the summary I've um I think. I've been a a good boy a Better Boy.

actually but there's still plenty of. room for improvement I did Kill the um. Capital One card balance I will have. ,000 cuz Caleb did say the window if. we're recording on the 18th but the. window was the 15th or the 20th when my. direct deposit comes in it'll be on the. 20th I think I have a case here for the. $1,000 so and then the savings it just. sits there or that's the plan going. forward because I've had a few little. emergencies or what I consider. emergencies um I could not do the bus.

anymore uh while I also needed a new. phone and so out of impulse I said let. me get tires on my car and then I bought. the phone to which is basically a $10. phone when you consider that um I got. two months free service so like $100. credit towards the service that does not. make it a $10 phone $100 so $10 phone. when you just factor in taxes there's. some creative math going on come forward. and say that I uh didn't really have a. strategy for savings at first because.

that was not the plan well the reason. being is because we've talked about it. responsible thing to do is keep like you. know 500 or 1,000 saved and then go go. go toward like the credit card debt but. I really hate the interest so what I did. was I had a I had every every every week. when I got paid it was like okay take uh. this is before I had my health insurance. so it was like like 650 every week so I. was like okay pay 600 keep 50 and that's.

just for spending and then next it was. pay 600 and keep 50 or some huge number. like that I love Joseph but he's talks. in circles it's hard to follow taken. care of because I'd already is he. talking about and that's an every month. thing I just set them as side like the. bills are paid I'm counting on you to. have the Dakota ring to tell me I plan. on being there I've paid that credit. card off so now I have a chance to build. a savings um. uh Caleb money guys Stephan gr probably. wouldn't advise you to do what I did but.

I got it done did he get it done though. when it I think he got the credit card. done I think um how I could knock it out. by December 1st because I wanted to. knock it out like November 30th so the. statement would show zero but I didn't. really know how the credit card schedule. worked so I got my own credit card and I. spent a little bit on it bought. groceries and. then borrow from Peter to pay Paul still. far under 500 it's a win I did get a new.

credit card it's my credit card it's but. he said he got a new credit card this is. the one he's talking about because he. want to get off $600 on it you see. because uh it's the. holidays and oh Caleb Joseph what we G. to do with him that I bought from a pwn. shop and it's like you know I worked. hard to pay this off I got to treat. myself and you know it's 25 2600 so it's. like ,000 less than the 3600 and then. it's interest free I'll have it taken.

care of by February it's cool guys okay. I'm just kidding I didn't spend that. 2600 on PS5 um the new Xbox and the. steam deck for what we said what he was. kiding was that a joke I don't know. here's the case I'll make for why I've. earned $1,000 because I paid off the. credit card my mom's credit card. specifically that was the one y any that. I have is on me and I I did not purchase. all the bunch of game consoles and.

stupid what I did was I bought a Geico. insurance policy because I have no other. option but it'll pay for itself cuz I'm. just going to you know I miss my niece. out of town I have a bunch of relatives. you know just out of town and I can't. get there by bus and you know I could I. could side hustle on I could it'll it'll. pay for itself so me nothing happens to. the car I will have $1,000 in savings by. on the 20th which puts me net 1,000 so. sounds like 1,000 there was only two.

things that we needed to have details on. and I feel like we've gone all over the. place including opening a new credit. card 100 you see and that would be. beating the interest I would have earned. in the high yield savings but yeah and. and I'm still net 1,000 either way so. Caleb money guys it's an honor to be a. part of your content guys um and I want. to give a thank you to the uh to the the. audience too and not just it's it's just. wild how I'll see comments that um like.

oh I just paid off my house I pay off my. car I put myself on a path to retirement. all these come up stories and Caleb's. not even shouting at you so what's my. excuse exactly if if y'all can pull. yourself out of a bad situation there's. no reason I shouldn't either also if I. don't pay off my taxes by the end of the. oh go say shave my head Joseph don't. make any more promises also this is not. a meme I unironically bought a.

$2200 insurance policy uh for my car. okay so let me let me break down for you. what he did yes thank you I'm I'm G I'm. gonna take five minutes of Joseph. talking and Distilling into about 20. seconds okay uh he had a credit card. with his mom he paid that down the. balance he showed was $176 he said he. got that knocked out the November he. wanted to show zero for November 30th. but he took it down it was at 176 he. paid that off okay but then he went and. got a new credit card and on that credit. card he bought an insurance policy for. his car and that insurance policy was.

$2,600 so now he swiped the credit card. to pay for the premium for the insurance. on the car he also put new tires on the. car instead of taking the bus instead of. taking public transportation so he got. one credit card paid down below 500 but. then he did run up another credit card. to 2500 on the savings goal he was. supposed to get his savings up to $1,438. and he did not get there he got to. $1,000 in Saving or he's estimating that. when his direct deposit hit. then he'll be at $1,000 he hasn't. actually gotten there he's waiting for. the check to hit and then he's saying.

that he's going to be there because of. that so in my mind I don't think he hit. him well my question I heard him saying. there that I had to I had to treat. myself you what was the what was the I. had to treat myself I think that he that. was a joke you know sometimes Joseph. likes to play play these funny jokes I'm. going to put my Caleb head piece back in. I think that that I think that was him I. think that was him just joshing around. okay I'm still a little confused I'll be. honest he walked around that. conversation a lot so I have some.

statements right in front of me mhm. Capital One Acre interest is at 179. that's that was the statement that he. sent that's the November 30th statement. he said he didn't quite get it to zero. but he got it down to. $179 right that is that am I tracking on. that yeah this ends December 9th the. statement so but yeah pretty much so he. didn't well okay so we wanted him to get. the card down to 500 so so technically.

he did that however however he went got. another credit card how do you not ride. the bus for a few extra weeks to. essentially take care of over a third of. the new expenses he took on on the new. credit card just by winning and taking. our OPM money other people's money. spends so much easier than your own. money why wouldn't you wait a few weeks. before you made that transaction I I. don't understand that I mean literally. the the the $2,500 car insurance premium.

would have literally cost him $11,000. less if he just waited a few weeks if he. would have just let us pay him hit the. numbers but I don't think and you can. tell me if you have the statement Caleb. his savings didn't get there either did. it he was right we just got a screenshot. literally right now my producer just. sent it to me it got to 623 so yeah I I. I mean I'm still frustrated. $2,600 is not a small SU money just to. go open a brand new card I mean. truthfully Joseph is the type of person.

that might want to freeze his credit and. give himself a little friction to being. able to open up credit cards so freely. um because it ought to be something that. you measure twice on Cut once and it. just a roll right into hey I got close. to paying this one off and it felt like. it was time I guess to meet our goal. I'll go open up a new one he was trying. to catch us on a technicality in some. degrees but but since he didn't even hit. the savings goal I don't think it. matters I don't like so either yeah he. sent an a note with his new screenshot.

right now combin they're over $1,000 and. by combining he's talking about his. checking account which of course that's. is he's using that bills in and out. that's just what's sitting there right. now so I'm not counting that towards his. savings this was supposed to be his one. month emergency fund and he says I just. have the IRS to pay in quotation $400. which I don't know if he got on a. monthly payment or what uh but he said. and I'm keeping $100 so I don't catch a. fee. except I used $212 to expand my Google. Drive storage that was the note he just.

sent so well I want to give him credit. he he made progress he did make some. progress he got a credit card paid down. he didn't go by ridiculous stuff but. there's still a behavioral aspect there. I think that's missing that he's going. to have to figure out if he really wants. to change his his outcome in life but it. is a binary decision he didn't reach the. two objectives I mean you can't get you. don't get sales goals you don't get. certifications just for for the. participation trophy it actually has to. have the goal and objective reached only.

evil coneval gets paid for the. effort next clip so. $1,368 is what's on there what is it. actually though what's the real number. there's another 1,800 sitting in my. Mercy death why are we purchasing extra. money on a card that we're probably. trying to pay off I mean ideally we'd. like to pay everything off um $2,900 on. this thing okay again this went up we've. made no payment on the city we made $258. in purchases bringing it from $ 4,752 to.

$. 5,39 I know and that's so sad because. late fee late fee of. $29 $60 of payments and then. $195 of. purchases you guys are killing. yourselves with this $30 of fees and. $839 of Interest you're losing on this. that's our debt right no Deb is scary. okay the one the big one that we've had. since um what was it September of last. year was our Rings we financed our.

wedding rings right so what is the car. 2022 Grand Cherokee L Overland oh no. that what's OD on it currently. 57891 and then I drive a 2018 Kia. Stinger what's out on that I believe. it's. 26850 you guys are killing yourselves. what's this apple thing oh we have an. Apple credit card we haven't talked. about it yet have we oh no no okay the. balance is. $7,988 we're just financially illiterate.

I would say goodness gracious Financial. illiterate that's like the most classic. American statement I have learned. throughout finally illiterate it's it's. stupid that's all it is you're taking. Financial illiteracy to like a a new. definition I didn't even know existed. that's not the Christmas spirit Graham. it's very gluttonous I mean everything. that they they showed like those were. nice cars I mean they're living their. best life in a very small moment and.

then they're going to spend decades you. know paying a price it's a lot less nice. than that life that they're currently. living I mean they have they certainly. have a lot of unsecured debt but at. least the secure debt these two. automobiles I would think immediately. tomorrow sell the cars for whatever you. can get out of that debt and buy. something less expensive because there. is no reason for where they are to have. a 57,000 car loan and a $27,000 car loan. that's just crazy that's insane this is. something where they need to like okay.

we have to get away from these assets. that are literally drowning Us in the. pool of debt and figure out something. else they can do and figure out some way. they can attack all the other debts that. they have and they walked into the. studio that day with a newborn child. newborn child they have and they have to. pay off all this debt I just I always. talk about the moral responsibility of. taking care of your as a parent so your. kid doesn't feel morally responsible to. take care of you when you're older and. that they are not in a good start and. they finance their wedding rings too I.

mean what a way to start a marriage it's. like hey let's go into debt on these. rings that we probably could have picked. up for a tenth of the price now I don't. know how much they spent on that but. it's probably way too much because they. love each enough you should not enough. to have to go into debt for it that. that's not a requirement in order to get. married you know how people have a gag. reflex to seeing certain things I don't. understand why more people don't have. like what a debt reflex where they they. see stuff they go you know cuz I mean.

how do you do this life and sleep at. night I mean I would be I I couldn't. sleep I would I would I have a gag. reflex to seeing newborn children. because they're stinky and sticky but I. hope it doesn't grow up with a lot of. debt even though it stole my highlighter. hey guys so for my brokerage outside of. my traditional retirement accounts when. I'm doing my single stock picks and just. overall brokerage moves I've switched. over to Mumu and they're actually upping. their bone bonus from $400 to up to. $5,000 when you transfer over to Mumu. using my link in the description below.

I've been using them for a few months. now before I recommended them because I. just want to make sure I'm recommending. the best platform possible and honestly. I've kind of fallen in love with using. it and the best part is when you deposit. money into your Mumu account and you're. not ready to invest yet you get 5.1% on. your money so it's a pretty incredible. platform to try so feel free to try it. in the link. below that's what we're going to focus. on important. stuff next clip one more all.

right now we'll leave it there we'll. leave it there oh no come on we need one. more it's the third one why are you. making me watch this started you should. not go out with me if I if I'm Ohio. State fan I do not like Ohio State cuz. I'm from Michigan so never be in Ohio. okay I don't know if that's a good first. message but well I responded to her. prompt though okay they are seriously. the worst they are so gross I'm glad. there's not as many down here I go to. University of Michigan but as a. michigander ew yeah the gross and then. you sent a double text I'm a double.

texter I'm a triple text true I'm a I'm. a mountain send full stream guns of. blaze in Texas how's your weekend going. so far my friend's parents house okay oh. no that's terrible my weekend was pretty. good very light. conversation okay so you went from you. okay so good conversation but there's. nothing that I see here that's like it. seems more like a friendly conversation. kind of back like pen pal. um this is good how long have you been. in. Texas I've been here for 5 years but.

yeah very hot still much prefer Winters. up there fair enough that's really cool. what brings you on here what do you mean. what brings you on here she's single but. how is she she might be hookups I don't. know you don't know what brings you on. here maybe she's not that's a what. brings you on here oh I'm bored a Tik to. no she she she wants to she wants to. meet someone like yeah but you don't. know she's diddling d that's a that's a. it's a lame question so then you follow. up again another double teex so like. you're stacking these points against you.

right now not very embarrassing but but. you know what this is how you teach. people with personal finance and this is. how I will teach you not to send these. messages you are the one with the fiance. so I am going to work on behalf of. everyone you've had on the show that you. have reamed into and this is my one. chance where I could rein to you for. this cuz your finances that they're not. bad they're decent relative how much. you're doing so you're fine so this is. my my chance to shine here okay shine. away you're just incredibly gorgeous so.

I just no come on what. so. gorgeous are you not interested you're. just so gorgeous so I just no come on. kill me this is terrible right that's. how she's that's what she's thinking why. I this I would be so down to go back and. do a whole video just reviewing your. messages that's it we we get rid of the. finance part let's just go through. Tinder Bumble whatever you have hinge.

doesn't matter unless let review I do. have some good news now the good news is. it was like a month and a half ago now. at a fish shop a fish shop I asked a. girl. out complimented her classes it wasn't a. great pickup line but I asked the girl. out got her number we've been going on. dates like every day every other day. since then but I haven't opened hinge or. Tinder or Bumble in like a month and a. half at a fish store too that's so cool.

she was getting some shrimp I was. getting a puffer fish you're getting. some shrimp that's the most romantic. thing reminds me of uh what is it uh H. what's that what's that movie with ro. Schneider dece. Bigalow I don't know that one now one. more clip to go okay so the Great Wolf. Lodge thing mhm that's because I've had. two kids begging me to go I don't care. if they're begging I will say you give.

to a kid that cries in the grocery store. every single time they want a candy bar. the big part with money with kids. specifically are kids that have money. trauma so like there are kids that. um grow up that are scared of money yeah. and from. um like constantly being told. that they don't have money and then. there's kids that are obviously with. money because they've always had too.

much money so there's both drastic ways. um the boys came from a hoarding. situation hoarding within the house yes. um right so we used to we were eating. out all the time and my grandma I don't. know if she's going to watch this she's. sort of an. enabler um so we would go to Carter's. every Tuesday because Carter's was half. off Carter was no longer half off when. I'm paying for absolutely everybody to. go um and I get nervous about buying.

them newed clothes because they're kids. what if also Goodwill prices suck so to. clarify that was an example there's. garage shows and there's a lot of stuff. I'm not even saying you have to do that. yet Salvation Army. but they're kids yeah I know I know and. they're they're not even in like that. area where like people start caring. about fashion in like middle school and. high school yet they're in elementary. school it's if they have I know how to. explain it it's I think it's just one of. those things that. like they don't deserve this the least I.

can do is get them a nice. outfit don't think about it like that. it's not about deserve it's not about. deserve you're in a loving spirit and. that's why you know it's hitting you. emotionally and I love that I can. respect that and I do respect it and I. love that about you that's a great. personality trait but I promise you it's. not about deserve it's not about deserve. when it comes to that that one's hard so. gosh she is an incredibly Brave mature.

hardworking person I'm so glad we were. able to have her story on the show and. I'm actually excited to say that we will. be recording an update early next year. as well but I know she's putting. everything sacrificing everything right. now uh to pay off her debts get into a. better situation and with that she isn't. able to give the gifts to her brothers. and the kids she takes care of so uh we. just wanted to do something special and. she already knows this I got on the. phone with her a few days ago giving. $1,000 to her to make sure that she can.

have a Christmas for all the kids. surrounding her they're able to you know. have the meals have the gifts be able to. enjoy the holidays together and I really. hope that uh oh man that's what I want. every guest to be able to do on the show. at some point and right now it's a. sacrifice it's the hard temporary. sacrifice for the better life and that's. what this show's about and I hope I hope. that makes their holidays brighter and. if there's anyone that you can help. support um not enable but help support. and that's what I know that we're doing.

with her uh definitely feel free uh. remember it's a giving season um but. yeah it was a hard situation and I'm. happy we could help at least in the. slightest amount okay but either way I. want to thank you all so much for an. amazing 2023 this is the first full year. that we've been uploading episodes here. on YouTube and we could not have done. any of this without you any of this so. thanks to you this is the full team as.

of now it's me these three people we. just hired one more person we're going. to be bringing on more people and it's. all thanks to you and your support that. you have brought to this channel going. into 2024 all of us here are going to. work to create the best content possible. and deliver it to you every single week. and again it's all thanks to your. support you have no idea how much it. means to me now much it means to us we. love you all so much from the bottom of. my heart and I cannot wait to see you. all in 2024 thank you.