120 Years To Fix This… | Financial Audit

35:21Get more holiday fun and less holiday worry with LifeLock. Save up to 40 % your first year. Visit LifeLock.com slash podcast. Terms apply. Why is it not on autopay?

35:37I don't know. I don't. That's a thrilling reason. Yeah. I'll be honest with you. I didn't know you could put credit card payments on autopay. And you're the money guy. Yeah. You talked to me sassy when I didn't know you could buy Best Buy off of an Amazon card. Who's showing me the Amazon account? She can show you. So you're the one spending on Amazon even though you don't know the financial situation? It's mostly me. Yeah, because I don't like to go out into the world. Guys, he's the spender. That's what she said earlier. That's what she said. Those are the words that came out of her mouth. That was$1 ,500 of spending.

36:15$1 ,500 of spending on 6 ,000 hours a month. Do you want to screen record it? I don't know how to do that. We'll censor anything private. Yes. Okay. Here's the orders.

36:31a laundry basket i'm sure we didn't have that well i have a metal toy box for all the toys and i get scared that she's gonna bang her head on it so i got a softer one so a lot of it is for for our daughter like i i hope so the formula is only available on amazon candy six don't 100 percent need it same with the i bet that the hungry teeth are i could see it but maybe just choose one or the other, right? It's like, I get it. You're buying a lot of things. You have a good heart for it. The goat milk formula. Wow, we're really, we're going to the third. It's closer to breast milk than regular formula.

37:07That's better for them. And you're not titting it up? I stopped producing sadly around like six or seven months. Just let me know. I can always squeeze for myself. I mean, please do. Breast milk is better than anything on this planet. Well, it's coffee creamer. Probably not good for babies then. Yeah, baby stuff. Foundation. Translution beauty stuff. Another thing for the face. More makeup stuff. And first impressions, I have to look the part, unfortunately. For a receptionist job? Yes. Are you getting commission? Sadly, no. Well, why would you as a receptionist? I get it. Get us some makeup. There's like 50 different makeup purchases in here.

37:56Yeah. I mean, they quite literally do a review on our appearance. It's like a little section in the yearly review. Okay, you got a fancy iced hot and iced coffee maker. Yes. Get a Mr. F***ing Coffee and an ice. We did. We did. And it broke. Yeah, it broke. Get a slightly better one. Or the same one again. I don't know. That was just an unlucky thing. We were trying to stop buying Red Bulls. A piece of bull mop. Because they were. Lots of goat for me. My goodness. she eats a lot oh you're into the little

38:31lusty bestiality animals and dragons f***ing each other books that my lady friends are into no it's not like that all that smut they love that stuff all the lady friends in my friend group love the smut

38:50humans and stuff Oh, God, no. That's so interesting. That's so interesting. I did not know that's what those books were about. Oh, it's so naughty. They're just always touching wings. No. It's crazy. Oh, that's the wrong book, by the way. You're thinking of a different book series than the one you're seeing. I don't know, but you're getting an eczema relief. That's for our daughter. Tell her to stop. Lots of Red Bull goat milk every second of our life. We got multiple phone cases, by the way, in a month. Baby Mathoy. Yeah, yeah, yeah. What in play tool set? This is like in terms of necessities.

39:26Like, remember, you're paying interest on this. I'm okay if you got that in cash. It'd be a little different because I appreciate, you know, getting simulation things for the kid. But you're doing this on a card that you can't pay off that is accruing interest. I had a late fee last year that you thought was paid off every single month that was supposed to pay for Christmas next month, which is now negatively paying for Christmas as in you're going to have to pay basically double for Christmas to make it work. Yeah, that's how we're doing it. It's not the absolute worst. It's a lot of purchases.

39:55The makeup was a lot. It's drugstore, so it's cheaper than... It was still a lot of different kinds. No, it should be the same foundation. I saw a few different things in there.

40:14Go through the budgeting class. That's the one I want you to go through. We do debt and investing as well. go through the budgeting class. Go through the budgeting class. You guys get it for free. You guys get it for 15 % off as a bundle in our stand store link below. But guys, you have to go through it together. Take the education together. You have to be on the same page. That will teach her about money. If she takes a debt class, that'll teach you guys about the fundamentals of debt, good and bad. Do eventually the investing one. Then you don't have to explain. You guys take it together. You learn together.

40:49You take the quizzes together. It all goes well, and then no more arguments. No more him having to explain. Yeah, that takes the pressure off me. Yes, but also you guys can just have an adult conversation. Quicksilver, what's up with this? That is... I don't know which one that is. That's our casual one. It's a Quicksilver. It's... So originally when we bought our house, I had that credit card way before, but we had our house. When we got our house, I put all of our utilities on it, and we did pay it off every month for three years. And then when she was out of work for... Was it paid? After she...

41:28Partially. Yeah. What was the percentage? 60. But it was only for... No, I took all my vacation time. I saved up my vacation time and all of my sick time. I had like 80 hours of each, and I took those. And then I was paying for the temporary disability, and they paid me for six weeks at 60%. Yeah. But after that, had to come out of pocket. Okay. So that's about three to four months while she was out of utilities. And we were going to... No, it wasn't. It wasn't three or four months of utilities. Yeah. Because when you went back to work that month was also weird because you went back like... Oh.

42:10Yeah, I went back early. Yeah. What does the future hold for business? Ask nine experts and you'll get 10 answers. Rates will rise or fall. Inflation's going up or down. Is there an upcoming bull market or a bear market? Can someone invent a crystal ball already? Until then, over 41 ,000 businesses have future-proofed their business with today's sponsor, NetSuite by Oracle, the number one cloud ERP, bringing accounting, financial management, inventory, HR, all into one fluid platform. With NetSuite, you have one unified business management suite. No more guessing games, just one source of truth giving you the visibility and control you need to make quick decisions.

42:52Plus, real-time insights and forecasting, you're peering into the future with actionable data. So when the time to make a decision comes, you're empowered with the info to make the right choices. Once NetSuite is part of your business, you'll be closing the books in days, not weeks. As a business owner, we all want to be spending less time looking backwards and more time on what's next. Whether your company is earning millions or even hundreds of millions, NetSuite helps you respond to immediate challenges and seize your biggest opportunities. And speaking of opportunity, download the CFO's Guide to AI and Machine Learning at netsuite.com slash hammer.

43:29The guide is free to you at netsuite.com slash hammer. Once again, that's netsuite.com slash hammer. Thanks to NetSuite for sponsoring today's video. Now, let's jump back into the audit. So she was gone and you had to spend on a credit card. Is that what you're saying? Is that what I'm hearing? Yeah. Well, it was already being spent. I just didn't pay it off. I paid the minimum payment on it instead. So that whenever she came back to work, we could knock it out. But obviously, we did not get to that part.

44:01Why didn't we cut back on fun? Because I know you guys spend on fun. it was three months postpartum we're not fun but you spent on it on the card that card is for utility that's what I'm saying you can cut back the lifestyle a little because I know you guys are living higher than you need to at a minimum yeah listen it sucks that you got 50 % I'm sorry you had to take your vacation time you know that's what it was yeah exactly that is a better way to look at it because what are we going to do cry I don't know so but you have to actually adjust and you have the ability to meal prep. You have the ability to cut back on going out to eat or something.

44:38You have the ability to buy less things that are 100 % unnecessary.

44:45Hormonal postpartum women get what they want.

44:55Or you don't get to see the next day. I'm sure. I get it. I understand what you're saying and I would want to take care of mine as well. The rage is real. I get it, but guess what? You're still paying for it and it's nine months later. So these are the consequences of those immaturities if we're using real words. Okay? If we're unable, I don't know. Was the kid intentional or an accident? It was intentional. I don't think we were ready yet if we had to put our life on a credit card. He doesn't know how much he spends in a month. I asked him over and over again if we can afford a child Well, he doesn't know a single shit about your finances.

45:35Okay, but before we had a baby, we had like an extra$1 ,000 to$2 ,000 a month. Now we spend on daycare and other things. No, I think. We had more livability. But while she was out, though, if you had an extra$1 ,000 to$2 ,000 a month of shoes making 60 % as the less income of the house, you should have been able to squeeze by pretty decently. Well, we did. That's what I'm saying. No, you said you put on a credit card, right? Well, I did. I just didn't pay it. That was on me. I was just trying to make sure that we had cash available if something, if she had to stay out longer. That was my intention.

46:12That's the thing. Then you weren't ready to have a kid. You should have had a bigger stockpile if your big fear was not having cash available and having to put it on a credit card. If you had to put things on a credit card regardless of the reason why, if you had to, you were not ready. that's another thing that came out of my savings too was like the you have to prepay the hospital for the baby so that came out of my savings as well okay which again you factor in right how much did that cost the prepay yeah like 1267 okay and we factor that in reality the situation we're not gonna boohoo cry cry yeah we cover all of it though I know you did but that took away and then you felt like you didn't have enough cash so you put it on a credit card and now we're still paying for this nine months later with interest accruing$39.18 on a monthly basis.

47:00You have a balance of$1 ,513.09. That went up from$1 ,455. Your balance has only gone up. Yeah. $462 of purchases. Guys, with a$54 minimum payment, it went up. Is it only bills that are going on? Yeah, it's only bills. Well, let's see. it should only be utility i see energy yeah i okay you're the brian and bo money guy of this conversation according to you both buddy if it is accruing interest and you cannot pay off the entire balance regardless if it is bills we're not putting it on a card that is f***ing us because you are paying a 30 % fee for your bills. Why would you allow to pay 30 % extra on your bills?

47:57Why is that okay in your mind? Well, okay, let me answer that for you. I remember him saying that he was going to put all of our bills on a credit card that we can pay it off at the end of each month. I've heard that like three times now and it's never happened. So that it would help his credit. What's your credit score? better now that's obviously not happening you gotta stop you gotta stop having that like arrogance thinking you're going to be able to pay off everything so why have you failed in this because in the cards we've talked at so far you're always like I'm going to pay them off there's a plan to pay them off okay so how have we failed on that every time I have like a paranoia of our checking account going below like a thousand dollars you should budget spend less than you make and then boom no paranoia what do you mean yeah simpler budget download it easy and you wouldn't have fucked up yeah well i mean what i'm so confused what's the so what's the real issue because that's a stupid issue because you can control that i guess it's easier to make the minimum payment then pay off the balance but your entire intention and telling yourself was that you're going to pay off the balance then you keep telling yourself that as you open a new card like an amazon card started off doing that.

49:15But you weren't doing it for a while now. You weren't doing it for a while now and you thought you could open up a new credit card? Yeah. Well, yeah, it's for Christmas. So, I mean... After Christmas, your kid won't know. They don't have memories until after like three. Is that true? Two or three, yeah. Memories that they can like... Remember? bring it to like the forefront you got some imprinting going on but whatever like just hand them a f***ing pretzel and they think they got something exciting you know what I mean you didn't have to go crazy for Christmas sometimes to be younger we only bought her like two gifts and the rest came from like families but then this excuse for it was Christmas is stupid well my cousin had a baby nine days after me too so I obviously bought happy birthday brand new baby we can't pay for our own in a nicer way so I really I care about I don't know maybe it's a personal thing I care about being able to take care of your kid well yeah but it was again only like two gifts for what were the gifts because you said you literally told me but it's Christmas it's toys so they were teething and you know beginning to like so all of this was because of Christmas well yeah but it was only two gifts not all of it not all of it not all of it But you have only brought up Christmas.

50:41What the f***? That's all I bought for. That was the most recent. I mean, yeah. We just buy diapers. We buy wipes. We buy all that stuff on Amazon. That's why it's on there. I sent her a lot of my, like... And we bought things for each other as well, man. Yeah. Like with the books, you bought me a Kindle. We didn't buy unnecessary people. What, the smut? She doesn't need more. We didn't buy, like, our third cousin's gifts or whatever. We just bought... Listen, I don't know. Like our immediate family. You told me it was Christmas. That's all I heard. I'm taking your words. I'm trying to listen to you and actually accept what you want or accept what you say is the reality of the situation.

51:19Yeah. Yeah. Yeah. Yeah. It's just, I mean, that was the main thing. It's Christmas. We just, we spent it on Christmas. Completely. Yeah. Utilities. I don't know. That one's utilities. Yeah. And it's at 28.24%. I was talking. I mean, you got 1 ,633. I always tell people if they have like$1 ,000 in a high yield savings to put it in the brokerage. I use Moo Moo because they get 8 % on their money for a while. And I got incredible. That's an incredible return on your investment. You know, it's S &P 500 averages out of 10%. You are losing 28.24 % of your money. This is crazy. And it's because we're afraid.

51:58So what would happen if you drop? Can you tell me a little example? What would happen if in your checking account, who went under? Your big fear. Your big fear. What would happen? Oh, God. What would happen? What would happen? I'd probably start panicking, to be honest. What would happen? I would cut back everything. What would actually happen? I mean, if it went under the thousand? Nothing. If it went under? Under the thousand? Under zero? What would happen? You get charged. Oh, a little overdraft fee, perhaps? Yeah. you're losing that same amount of money that you would have in an overdraft fee on just the interest on this card alone if not double so this fear is stupid because mathematically is equated in the same he used to have that fear i kind of instilled that into him though of it not smiling about this okay yeah what what tell me his thing was um before i kind of trained him is she excited about this she's proud that she convinced me it goes back to the car flipping where he had 18 yeah he had 18 cars he put aftermarket this that and the other um wheels and tires were always first thing to go on to it so when i got together i had because i obviously grew up poor i was like you can't spend like you have to have x amount of money in your checking account at all times but like he did not he would live on like eight dollars in his checking account where yeah but yeah where was the fear instilled just that i i instilled it because like he learned from me so you just told him that okay i thought there was gonna be okay so originally i would i would blow all my money on car parts and stuff and then i would live off like 20 bucks for two like a month yeah yeah use some of your crappy energy now cut back learn some of those skills he had was that stupid sure but you're being scrappy you can be scrappy again man yeah well the the problem i think the problem is is that i have this fear now that i can't do it that i can't go below or can't oh fear yeah i like a no i don't want you to go below but all i am saying if your big fear is that you're going to hit an overdrive you lost just as much money if not double on this card alone then we had three cards that's a career interest so you're essentially getting the overdraft mathematical equation times five right now on a monthly basis so what like your logic isn't working sure i mean at that point a payment balance would hit a return fee could be done if what is coming out of that checking account that goes into overdraft is like a credit card payment or something yes there are more consequences but mathematically you're still basically paying that now and it's listen if you know what is going in what is going out if you manage what is going out and you know what is coming in you won't go you won't happen no one overdrafts like that you know what's happening and if you have to swipe the debit card for an emergency you know if you have the money or not yeah so that's bull stop with that that is that is an anxiety that is irrational in your case because you can control it well now the fear is kind of trying to pay off all of them so we don't have that because he finally called me.

55:22Our credit card balances have gone up. That is curious. That is an interesting response to fear. Make it worse? Hmm. I'm drowning. Let me go further down. It's an interesting reaction. A shark is coming towards me. Let me cut myself.

55:41It's a very interesting way of going about the dumb apple card what's up with this

55:54um which apple card is it I have no idea I uh if it's the one over a thousand backed out so$1 ,361.45 okay what's going on honestly that one I just used that never happens for you guys Because it's a big fear of that debt. We have to pay off all the debt. Big fear. I would spend that one just like on gas stations. What the fuck are you kidding? Like energy drinks. Stop. I am bulk. I did for a while. You did on Amazon. Well, then you're doing worse. Why revert? That doesn't make sense. I buy other things on there as well. What the fuck is he kidding? What are you, Zinno? What do you think he's kidding?

56:40You actually? Yeah. Why? Why do you need that? Well, I actually switched back to vaping, which is worse, but... I don't even know what you're talking about. I have TikTok Shop and two Apple bills. I don't even have a convenience store. Wait, I don't know. Wait, is that your card or my card? Oh, what are you getting on TikTok Shop? I don't know. I don't even remember, to be honest. Oh, that was your sweater. Oh. It was just because it was on my phone already. It was easier to pay through TikTok Shop. You can't pay off the balance. It's accruing interest, and it's only going higher in balance. so we buy a fucking sweater?

57:14Fuck the sweater. It doesn't matter.

57:21You don't, this fear, this fear you have of being in this debt is not very real because you're doing nothing to address it. When I'm afraid of things, I address it. I'm so confused. I tend to avoid it. which is also a stupid reaction to the fear. At least an immature one at that. Well, it is what it is. It is what it is. Listen, in terms of things you couldn't control, I will accept it is what it is. For things you could, you. This is in your control. I didn't understand it, so I stayed away from it. Learn. Google. GPT. Budgeting class. I don't know what GPT is. Budgeting app. You know what Google is, though.

58:13You know what YouTube is. You're on it. Uh-huh. If you don't know something, you have more information than humanity has ever had literally in your pocket. There's so much information, though. It's overwhelming. You can make excuses as much as you want. It's on you to learn. And if you don't, it's also on you. and I can't have sympathy for that. I really can't. I'll have a little bit because I know what's anxiety inducing but you gotta push through that because it's your entire life. This is your kid's life. At some point that's as selfish of you.

58:55Pull up your Apple subscriptions. Let me see. Pull up yours too. Open your phones. Open your phones. I don't have an iPhone anymore so I can't. What do you have? I have a Samsung. He just got a brand new phone. Well open your phone and your subscriptions and Samsung. On Google Play. I don't even have any. Maybe. We'll see. Ma 'am. Okay, that's an Apple card. Oh. I don't even know where subscriptions are on this phone yet. I didn't know that you could look them up.

59:27Just Facetune for 60 bucks Facetune? Yep, you're paying$60 for Facetune. $60 for Facetune. I think it's annual. Yep, you got Facetune. You're not on dating apps anymore, so I don't even know who you're trying to catfish. No. Play Store, profile icon in the top right, payments and subscriptions. I am being told from the one Android user in the office. Play Store, profile icon in the top right, payments and subscriptions. Oh, okay. Oh, it's a free trial. I'm just going to go ahead and cancel that. Until August. Okay. then what are the f***ing one of these Apple purchases that you had when I had my iPhone more than likely what were they for what was the price $18.39 and$9.99 $9.99 is definitely a subscription wise our video camera system $18.99 $30 an interest recruited in the last month but you got a dollar of cash back all guys are really beating the system here's your apple card 503 11 so we really love apple huh guys yeah i have no idea what i bought on your balance actually went down the one person who isn't looking at accounts the first time she has her own card it's better than any card you have good job money guy tiktok shop 35 dollars save her but she doesn't know what money's happening how do you save if you either way you got$35.34 on TikTok shop what was it I tried to bring her into the finances but like our I guess my miscommunication made her anxious so we just like argued instead yeah I broke a pair of my sunglasses I have really sensitive eyes close them well you can't do that while you're driving now can you yes it'll solve all these financial issues okay kind of morbid but no yeah my sunglasses broke so I bought another pair on TikTok shop because they were going viral listen if your anxiety can't handle you looking at an account I'll connect you with a therapist you get three sessions for free so check it out I think our audience does as well this is a great resources that I personally use and love therapy therapy therapy therapy If you're too anxious to f***ing look at an account, yeah, see a therapist.

1:01:51Who would have thought? Best Buy. Okay, well, I had Best Buy purchases on the Amazon card, so what the f*** is going on with the Best Buy card? The Best Buy card is interest-free. It's on the promotion. $1 ,713.09. Yes, okay. I meant$29 minimum payment. So, okay, here we go. Until... August? Yeah, August 23rd, 2025, and then November 23rd, 2026. That one's a long time. What did we get? Washer and dryer and a MacBook. MacBook? Not we, you. No, I mean, we got the washer and dryer. I got the MacBook. I didn't have a used washer and dryer. We did have a used washer and dryer. Could get another one.

1:02:37Well, ours was janky. It didn't work. Yeah, you test it like crazy when you get it before you take it home, just like anything else you get on Facebook Marketplace. but go around the getting a used washer is kind of gross you must meet nice people on Facebook Marketplace because they do not let you do shit you have to go around the rich area hovering on the rich area they're just trying to get rid of it so they put shit on Facebook Marketplace and they'll just get rid of it that's what you have to do I thought everyone knew that

1:03:12trust me I know $201 of interest charged last year, fee is$129. What the f*** is the fee? This card doesn't have an annual fee. I don't know. That's like three late payments. It might have been, yeah. Three late payments in a f***ing year on one card. What's your thoughts on this, girly? I am finding out a lot of information, so I'm kind of getting frustrated. Would you know this? if you don't pay off the balances by the dates interest automatically hits back interest currently$401 of interest has accrued on the$985 balance on this card if it's not paid off by August it'll be like $500 -$600 of interest that is boom added to the balance like that if it is not paid off in time You better get that paid off by August Well maybe you too You guys are married You're really gonna let No offense

1:04:18Him manage the entire finances Look where you guys are You have to go at this together Maybe Maybe Maybe I'll take over Maybe No not take over Together Why are you guys doing this so weird It just worked out that way, I guess. Yeah, I don't know. Maybe it's her personality. No, it hasn't worked out. No, I'm just saying the situation just worked out to where it's at. Worked out for the worse. I don't think you get what I'm saying. I do. It just worked into that situation. I understand what you're saying. Okay. And I'm telling you, it's not working. So change it! This is huge for financial audit.

1:05:02For a year now, my team and I have worked with experts to create what I truly believe are the three best educational programs in the financial space online. We have our budgeting program where I teach you how to create, manage, and revolutionize your budget and control your money. And then there's the investing program where I teach you to define what investing profile applies to you and your life and then teach what specific investing strategies applies to you in that situation. And now finally, we have our debt program where I teach you the best ways to pay off debt, manage debt, and even take advantage of good debt.

1:05:37This has been a revolutionary project that we've been working on for over a year now. And just like over 10 ,000 people who've already taken our educational programs, you can now take advantage of all three of them bundled together at a 15 % discount. I've heard from thousands of people now who've taken these classes and they've literally changed their lives for the better. and finally you can too at a more affordable price head to calebhammer.com or click the link in the description below you will not regret this it's a crazy concept i don't understand i know we're supposed to do things together but i don't understand how we're supposed to do it together if i don't understand and he doesn't understand that we fight all the time so i'd rather just talk about the last fight how will happen when was the last fight what happened like three days ago okay good talk me through it yeah i mean not good yeah i told him to I don't have to shut up and stop talking about financials until we get here.

1:06:31What happened, guys? Go from the beginning to the end. He sat. I literally just got home. He sat down, and he just pulls out his fancy little MacBook. Yeah, which you did not need. You could have got a PC for cheaper. I got my MacBook pretty cheap. Then it's quite. It's a MacBook Air. It's M3. Well, I guess it depends. If you're having a couple Chrome browsers open, you're fine. Oh, man. Okay. Well, what are you doing on it? Work. What work? What do you have to do? I mean, it's mostly on the internet, yeah. Well, there you go. Exactly what I just said. But I'm also doing spreadsheets and things like that.

1:07:12In Google Sheets? No, Excel. Okay. I mean, yeah, I'm sure that's fine. That's fine. You're not doing anything that's pushing it. Anyways, he came home, tried to make a budget with me, and he was just like we need to put this money from the box which is another like a cash box that we keep for emergencies around the house cash box yeah it is literal cash literal cash in our safe okay keep going um he said that we needed to take that and pay off this credit card and then after we pay off that credit card it needs to go into the safe so we won't touch it and then we need to pay out of the savings account on this other credit card and then we just need to not do anything fun, which kind of made me upset because...

1:08:02I mean, she's going to be a year old during the summer and I want to take her to the zoo. Oh, she won't remember. No, but I will. I don't care. You'll have a lot of memories. Maybe you'll have pictures. You can take pictures. Pictures are great. Yeah, and then you show them when they're older. Yeah. Yeah, create a little green screen. Put zoo footage behind it. Take pictures of that. It'll be fine. It's not fun. Listen, no, it's not. I want you to go to the zoo. People are going to think I'm, like, mean. Say, no zoo for a one-year-old. It's not that. Guys, you literally are on the brink of getting fined financially.

1:08:39And your choices are only getting worse, and the finances are only getting worse. So I don't care if the one-year-old goes to a zoo, if it gets to keep a roof over their head for longer, if it gets a college fund, if it has food on the table reliably, if their parents are fighting their entire life because they can't have a conversation about finances, because the budgets are under control, because the debt has spiraled into even worse. I don't give a f*** if she saw the zoo at one, if all those other things are in play. If they're not, zoo it up. But they're not. Well, they are. They're all in play.

1:09:12All the bad.

1:09:17Actually, to be the need to be responsible. No, he was bringing it up like every single day. And I. And what did you say? I just got tired of it. What did you say to those responses, though, every single day? What did she say? She said, I don't want to hear it. Don't don't talk about it. I don't want to talk about it. So every single day, I don't want to talk about it. What do you think that's going to lead to? No, I made a plan. and then like the next day I would like make a plan with him the next day. Did she make a plan with you every day? We came up with a general outline and then I kind of specified it a little more in depth the next day and she just didn't want to talk about it.

1:09:52No. You switched the plan and like hopped on to something else first. But I thought the plan was starting here and you're like, no, we're going to start here. And that's what's confusing when you bounce back and forth, back and forth. I was just weighing options. I wasn't being inconsistent. and I was bringing up other options, which way works better for us to do. Are you asking or telling? No, I was asking. No, that's not true. I was asking. I said, do you think this would work better or do you think this would work better? Well, I have no idea. Like, you got to tell me why. So I have a spreadsheet.

1:10:22It shows everything. I don't... Not really well versed on spreadsheets. And yours are confusing. That's fair. Actually, I will say it isn't. you can't claim dumb on everything you've got to eventually learn something I am pretty smart but you've claimed dumb on every topic we've talked about when it comes to like math and money yeah but we can f***ing learn you just have to put in effort if you realize you're stupid on something learn when I realize I'm stupid on something that is impacting my life I learn at that point it's your fault you can't claim ignorance on everything forever you can't be saying this at 50 that oh no there are two there's a couple columns in a spreadsheet my mind broke you can't do that that only holds weight for a few times and then you learn you ask questions that is not gonna hold water forever dude at some point that's a lazy excuse i'm learning now so are you slowly but surely what are you doing trying to listen more to him is she yeah she's she's she's doing a lot better on that.

1:11:33Is he approaching it correctly? That's something I'm working on. Yeah. I'm asking her. I'm sorry. He's working on it. What does that look like? It means he has to allow me to ask as many questions as I want to to get to a conclusion that I can understand rather than getting frustrated and just walking away. Why do you get so frustrated when she asks questions? He thinks I should understand it because I guess I have a degree. You probably should at this point if we're being honest but you don't so we need to deal with it yeah well it's it's i'm working on it okay well that's that's all you've said nick you have to answer the question that i ask so i can have any kind of insight into this so we can come up with a plan and whatnot well i mean i'm gonna listen to her questions and then answer the questions as she asked them that's what I'm working on.

1:12:29Not try to explain everything all at once. Yeah. Going by individual question. Because when it kind of umbrellas it, it makes it difficult. How do you learn other things? Well, I'm very good at learning things that I'm actually interested in. Well, yes, but your daughter's entire life is at stake. So time to become interested real quick. fair um i don't know i'm very like book smart and then i good read a finance book read a book i have an eidetic memory so um budgeting book a budgeting book yeah read one no one that's actually interesting yeah oh no if i know one yeah

1:13:22i like brian and bows speaking of the money guy they have a good book millionaire mission because if it's a bunch of like big words that what's a big word do you like i don't know that's the word budget big like no it's not like when i say big words i mean like in simple terms that like everybody off the street can understand you know it's hard to determine where you're at i i don't know slate the i didn't seem like a chase slate card. I don't think. Is it yours? Yes, sir. So, I'm confused. It's late and no payment is made on it. But it only has a$77 balance. Oh, no, I would not. What the f*** is this?

1:14:11This is stupid. It had a balance that could be paid off in the minimum payment. So, what the f***? Why is it late? I guess I forgot about it. Listen, he put... and don't you manage the finances? He organized? That's her card before we were like... You don't incorporate it into the pile? Why? So why do you have this super special unique card? I think I had two late payments on it this year actually.

1:14:41Why do you have this super special unique card? Why don't you include it in the pile of everything else? Because it's mine. It's in my name. Yes, but why doesn't he... You can't have eyes on things that are in his name? I don't have eyes on the Capital One Why did you guys have eyes on the finances of the house I'm not saying you have to go through Why did you make this purchase I don't know how we can see it all At once Without me sharing my logins with him Yes you guys just have to sit down and go through Statements together guys I guess that would be smart Oh who would have thought That's why I'm glad Again, the budgeting app will do it all automatically for you.

1:15:23Yes, fees. Yes, interest. The year just started. First month fees and interest. Oh, my. It's still going. Ashley. $1 ,000 out of savings. I'm not buying furniture for them again. Yeah. Couch is falling apart. Yeah. Yeah. My couch from them is falling apart. $1 ,000 flat is owed. Yeah. It's a very sticky couch, apparently. Sticky?

1:15:55Sticky couch?

1:15:59What does that mean?

1:16:04I don't understand. Someone said it was sticky after the cleaners just wiped off the dog friends. Oh, your couch or my couch? That couch? I don't know about your couch. I was like, sorry. Do you want to join the Sticky Couch Club? No. No. God, no. That sounds terrible. That could be our crew. I'm pretty positive our daughter has put sticky things on our couch. You're a part of the crew? She's a sticky baby, so. You're a part of the crew? No, but if you use Windex instead of actual cleaner, it doesn't make it sticky. I don't f***ing boss my cleaners around. It wasn't sticky even. I mean, that was the funny part.

1:16:43It doesn't matter. It doesn't. We are going off topic. We are going off topic. Just saying. Windex. All right. $35 minimum payment,$1 ,000 on Ashley. That one? Seven years to pay off doing the minimum payment, by the way. No, no, no. We don't do the minimum payment on that. Well, I didn't see a payment. But either way, if you did the minimum payment. Huh? We just got it. Yeah. We just got the couch. Okay. I'm saying if you only did the minimum payment, it takes seven years to pay off. That's all. That's okay. But the interest is only deferred. For a year. For a year as of two months ago. yes so uh okay at this point to pay it off before interest $85 a month oh okay$85 a month yeah

1:17:40oh my gosh okay so this is someone's credit card what is this lending club That's my personal loan For the 18 cars That's for cars 18 cars? I've had 18 He has 18 cars? Not currently Not currently But you have a personal loan still on them? On a couple of them, yeah What the fuck are you doing? If you were making a profit, the loan wouldn't be there When I say car flipper, I mean he goes through cars I don't buy them to sell them I buy them to have fun with them Great, so we have a$9 ,675 loan for fun? Yeah. You know how dumb that is when we have a child and all of our debts you are the financial bad part of this relationship.

1:18:27All of your debt is substantially worse than her debt even though she doesn't look at the money. You are the one holding back the boat. You are the anchor holding you guys in the middle of a fucking storm. Yeah. What the fuck? Why do you get to be the person? That makes no sense. Makes no sense. It is a$286 minimum monthly payment for a personal loan for cars that probably don't even exist anymore. $9 ,675 balance. Stupid. You made payments for about a year on it, so you have like a trillion more to go. 60-month term. So what are you doing with the cars that exist now? What do you have now? Give me the status.

1:19:10I have a 2017 Subaru WRX. And I have a upside down still sell. Oh, okay. What do I do with the negative equity? Well, hold on. Is that your primary daily driver? No, I have a work truck. You still sell it. That was for funsies. Sell it and throw it at the debt and you're just going to have to take care of the debt, but that at least gets it there quicker. What do you mean? Well, I have negative equity on it. I still owe more than what it's worth. I know. So what do I do with the negative equity? I'd have to refinance it. Yes. or you get a personal loan or you work to pay it off. We save up the amount of money to close it off.

1:19:46But selling the car will get you there quicker. That's just his car. It's upside down. My car is upside down. Is that the only car? No, I haven't. What else is there that you have in your special little experiment? No, that's the only car I have. So he surprised me with a Jeep. You surprised her with a Jeep. A brand new Jeep, Cherokee Laredo. It's a 2023 because I graduated college and we got married the next week. So it was like a two frigate. Yeah, he traded on that. Yeah. Yeah. Do I have that? Yes, I do. It's right here. F*** me. Luckily, this one's only a 6.7 % interest rate. That's still not good.

1:20:21And after depreciation and everything, it's not really competing with the market. What's the interest rate on your personal loan? Um, 19%. Oh, 19 % of f***ing stupid upside down dump me. That's so f***ing stupid. $734 monthly payment on yours because it's inexpensive. for your guys' income? It's not in my name. Huh? It's not in my name. Whose name? It's in his. Your debt's always the fucking worst. This is a cheap... You ready for this, guys? Yeah,$42 ,698.79 worth$25 ,000. Yeah. This is moronic. Moronic! and we have a kid that we can barely save anything for that all their diaper purchases are going on debt and we have a car that is worth half of what we owe on it and then we have another car at a 20 interest rate what the what is the payment period on this possibly which one The term length on the Jeep 2029 I think I'm gonna die And you got this two years ago We refinanced We refinanced Oh You refinanced and it's still

1:21:49I'm good What is like of you? It's our mortgage Oh okay 2.75 % rate This is the first Halfway decent thing This is actually a decent Use of leverage $188 ,067.45. What's the house worth? $240. There we go. Okay. What did you put down on it? Nothing. Okay. You just got lucky in the market. Yeah, we did. Yeah, and his dad was a realtor. $1 ,484.32. Great rate. We just filed for a homestead exemption. Well, yeah, I do that every... So, what's your daily driver? My work truck. It's an F-150. Do you own it? No, it's a company truck. Oh, but you can't drive... I can drive it to and from work. Do you drive it for other things?

1:22:39I'm allowed to take it to the grocery store, but other than that, no. So what do you use? A Subaru? The Subaru or her Jeep. So we can't sell the Subaru. Or her Jeep. Can you use her Jeep? Yes. Okay, then get rid of the Subaru. What's the Subaru worth right now? Right now,$9 ,000. Your personal loan is$9 ,675. No, the personal loan is not for that car. I have a car loan for that Subaru. It's$18 ,000. The personal loan was for all of the... That's the car loan? That's the personal loan. What? The personal loan? No, personal loan is$9 ,675. That was for a different car. That's for car after car after car.

1:23:19He bought a 370Z. That's a car that doesn't exist anymore. He sold it. Oh, what's the$18 ,000 minimum monthly payment for this stupid Subaru? $489 Interest? I think it's 9 % The money guy, 9 % It's stupid What's the payment term on this? $29 And it's worth$11 ,000 But even still, that's so stupid And then we have a loan on the car Stop your addiction His friend got a Subaru after he did So they kind of bounced off each other Yeah, you guys just goon together over the Subaru Yeah, they work together, too. You're... People. This debt is going insane for cars we don't even have anymore. Mm-mm. And that's...

1:24:10It's... I agree with you that it is stupid, and I told him so. And she has no sway. You just do things without the care of the opinion of your life partner, the mother of your child. All these cars were before we had planned on having a daughter. Like, we had the car. I had the car. She had the daughter nine months ago, and then she was pregnant nine months before that. This was over eight years. That loan is the second one that refinanced the first one. So stupid. Okay, yeah, we have$3 ,400 in this checking account. Right? Yeah. Oh, yeah. Okay. Oh, so we're getting energy drinks, Dutch Bros, energy drinks.

1:24:56Smart Financial. Oh, ATM will draw$3.75. Where'd that go? What? What was the question? $3.75 ATM. We pulled out$375. What's Smart Financial? That's our bank. Yeah, you did. Oh, you guys have no respect for the dollar. Energy drink, energy drink, energy drink, energy drink, energy drink, energy drink, energy drink, energy drink. Dutch Bros, Chick-fil-A, Sonic, Energy Drink, Taco Bell, Energy Drink. Most of that's him. Shopping is hard, right? But I found a better way. Stitch Fix online personal styling makes it easy. I just give my stylist my size, style, and budget preferences. I order boxes when I want and how I want.

1:25:41No subscription required. And he sends just for me pieces, plus outfit recommendations and styling tips. I keep what works and send back the rest. It's so easy. Make style easy. Get started today at stitchfix.com slash Spotify. That's stitchfix.com slash Spotify. You took$625 out at the ATM. You know? What was that for? Energy drink. Little Caesars. Apple Cash. Shout out. Wendy's. Sheen. $259 of Sheen. Great. It was right after I gave birth. I don't care. Well, your body changes a lot. Yeah, you're also at home. No, I had to go back to work. So it was after maternity? Mm-hmm. Okay. I was 94 pounds pre-pregnancy, and I went up to 157, so that's a big change.

1:26:28You were 94 pounds? Yeah. You were under 100? Yeah. Oh, my gosh. Energy drink! Energy drink! Another$250 taken out from the ATM. I have no idea what that is. It's not an ATM. That's a wire. It's coming from, I think it's our - Okay, it's saying ATM would draw, but it's a wire? Yeah. Where's it going? The$1 ,400? Is it$1 ,400? $250. 250 is... This has ATM withdraw. Our daycare. Oh, yeah. Yeah. So it's 250 a week? A week, yeah. No, it's 240 a week. No, now it is. Oh. Yeah, we switched daycares. Sorry. Nope. Jake, who went through this, is telling me there's a separate charge for that. And these are ATM withdraws.

1:27:11No, I pull it out. Cash? Our newer daycare comes directly out of our bank account. It's automatic. But our old daycare was we had to pull cash and pay cash. We switched December. Oh, you were in both daycares at the same time? No, we were for the first half of December. Energy drink, Chick-fil-A. Guess what? You're getting energy drinks every second of your life. You're boofy in energy drinks to wake up. Best don't. I don't know. It looks like a restaurant. Crazy vapor? Yeah, let's die for our kid. Yeah, we're working on quitting. We're so it's both of us. I quit. Did you guys smoke cigarettes?

1:27:49Yeah, we did. But I quit, obviously, because I got pregnant. I was doing really good keeping off the vape. But obviously, being a new mom is stressful. And he said that he was going to quit with me, but he never did. He went to Zin's while I was pregnant so that the vape wouldn't be in my face. And then he started vaping after I gave birth. Oh, my gosh. For the sake of your kids, stop. Easier said than done. Read the books for them. Join a group. get the help you need. It's crazy, guys. Come on, you have a kid now. You're only not setting them up for financial failure. You're setting them up for failure, failure, because you're going to die.

1:28:28Dutch Bros, energy drink, McDonald's, energy drink, energy drink. You're going to have a heart attack, too. Target, you never really know. Dutch Bros, Goodwill. Yeah, it could be okay. It's for Christmas. Because I know they size up real quick. Well, it's for Christmas, great. golden corral energy drink energy drink energy drink raising gains taco bell target you never really know mcdonald's energy drink chick-fil-a this is we have debt that is going up except for hers kind of no yours did because you were late too oh here's your debt it was an honest mistake It was a 19 ,000 by the way Not 18 So let's add an extra thousand to the debt counter For sake guys What a hole 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 debts What a hole you guys have dug yourself And I know I say every hole Any hole will do But not this This is horrible What did you have a degree.

1:29:43I do. In? Sociology and I'm hired in human services. You're not using it. I am. It's hospitality. I wanted to go into hospitality or HR. I didn't go to college. No student loans? No student loans. I cash flow. If you guys want a certificate through course careers for any raises and resume strengths, let me know. I can gift you guys a course career certification. You can go through their free course. That's what our audience usually does to get placed in a course that makes sense to them. What is it called? Course Careers. It's a certification website. They're really helpful to a lot of our guests and audience.

1:30:19Okay, let's get your budget. Again, we spent$2 ,200 more than we made it on a monthly basis. Kill me now. And I'm putting in that$85 minimum monthly payment in order to pay that Ashley Furniture off in time. All of these personal loans and car loans are destructive. not including the house your minimum monthly payments are you okay $1 ,873 no because you guys are dying mortgage we know is$1 ,484.32 so our debt is over$3 ,000 on a monthly basis income$6 ,354 so 50 % of our money goes to debt alone what about utilities on a monthly basis what do we got $400 is that including the internet gas vroom vroom drive drive both of you combined 120.

1:31:07Sure? Combine? My guess is paid for by my car. Oh, yeah. Car insurance? 286. Phone bill? 155. For how many lines? Five. Promotions. They put the out-of-line promotion. He likes to get new phones over and over again. That's the reason why he has a new phone. He gets a phone cheaper. 150? Yeah. Now, okay, well, dude, I would just be doing, again, I always talk about it. Just so you can get the cheaper option. There's always a cheaper option today for the same quality. The one we talk about is helium,$15 a month. T-Mobile towers. This is so stupid. When those are paid off, switch and stop being an addict on cars and phones.

1:31:53So stupid. Necessary food for you guys and a baby. Babies and goat milk. Let's see. And baby food. She started solids. And baby food. I think we could do$800 a month. Might be a little high. Adjust it. You guys are meal prepping, using the cookbook down here. Oh, it's not a shot. Use our cookbook that comes with the premium version of the budgeting app. Okay. Use that. Meal prep. Cook. I'll try my best. Cook. Try your best for your kid. I don't give a... I don't care what you like. You probably don't like lung cancer either, but guess what? I'll stop smoking some. TV fun. Anything else you need to survive?

1:32:29This goes for a kid as well. $150. Now, what is the monthly cost of child care? $1 ,000. It's$960. It's$240 a week. $960. Medical health care. Anything ongoing monthly? No. Okay. I am not putting your vape and cigarette into here. I don't like that. Any pets? Okay. Yeah, we have two. Yeah, we have two. What? Dogs. Age? One's 13. One's three. Health of the three-year-old? Very good. Good. $40 for pet insurance. Pet food on a monthly basis? How much? We buy one big bag. 70? Well, that's for two months, so probably like 45. Okay, so I'm going to do 35. Yeah. Cool. What else needs to be in your budget that I don't have?

1:33:14Savings. No, that's it. That's it? No, in your monthly necessities. Yeah, that's it. I think you about covered it, her bud. And, I mean, I'm giving you guys no wiggle room, and we always know there's going to be extra something or something less because we do a pretty conservative version over here. Maybe not in the grocery budget for you guys. You can probably do that a bit less, but a TP fund might need to be like$50 more. The other way, literally, what we have here, guys, is an extra$55.55 a month. So not including your mortgage, I mean, just as an example to see how dire the situation is,

1:33:56it's going to take you

1:34:011 ,428 months to pay off your debt. How long is that? I'll tell you. It's going to take you 119 years. Oh my god. I don't think we'll wait to see that. Yeah, your debt's only going up and you're adding late fees making the situation worse. Do that a few more months, guess what? minimum monthly payments are going to eat up that extra 55 and you guys are going to be negative on a monthly basis. That's a lot of years. Do you have I mean I feel like 800 is quite a bit for groceries. I think it might be as well but I think your TP fund of 150 might be a little small. I think they're going to offset each other.

1:34:41Diapers are expensive. Yeah.

1:34:49Usually again I like to we do conservative in terms of keeping you tight, but sometimes we boost some of the categories because we know there's going to be extra stuff somewhere that we are not taking into account yet. Okay. Extra$55 a month guys. I don't think we're at the situation of needing to go through bankruptcy. You can. I don't think we need to, you don't really get any behavioral learning from there. So I'd rather you at least pay off that for a while before you go through bankruptcy and learn the habits first. the reality is can you pick up more hours? Not without taking Can you pick up more hours?

1:35:25I mean I can get like a weekend job Now if we can bring an extra 500 hours a month it still takes forever it still takes forever

1:35:39but of that an extra if we have net let's say 500 hours a month still takes 158 months to pay off, but that's obviously better. 13 years would be better, but bankruptcy would be quicker and offer your credit by then. It's going to be difficult, guys. Essentially, to make this work without going through bankruptcy is either letting things go to collections, hope they don't come after you in small claims or in court or in anything whatsoever, through credit, or through credit through going bankruptcy. I don't really want you to do that because you don't learn any behavioral issues that got you here in the first place, or you need to bring an extra$1 ,000 net through raises, through new jobs, through second jobs, through evening jobs, through morning jobs, whatever it is.

1:36:19$1 ,000 net. Pay this off in six years or so. That we can do. And, of course, it'll snowball, but I'm also not taking into account interest, so that usually offsets it. This is a pretty brutal situation, and you're only allowing it to get worse, and you're allowing Christmas to be a reasonable reason why, thinking you'll pay off your minimum payments is a reasonable reason why even though you've proven to yourself that you can't. Not willing to address it because we're anxious about it. This is where it's led us. Two lifetimes to pay off our debt. Two lifetimes. It's time to go bring in more money and sacrifice everything.

1:37:00Because your child's future depends on it. Your child can be raised in a house with financial security by the time they are 8 years old with a fully funded emergency fund, no bad debt, only debt being the mortgage, which is a good mortgage, and mom and dad getting on track for retirement. We're going to play a catch-up game at that point, but that's okay. We can do that. She can know that at eight years old when she's actually experiencing life. Right now, the zoo does not matter. Her growing up in a good house that is financially stable or her parents are together is what matters. You guys have that choice and it begins now.

1:37:40Spending within a budget score, zero out of 10. Debt score, no collections, but horrible debt. Look how long it takes to pay us all. Pay it off, one out of 10. Emergency fund, well, obviously, of the$3 ,000 sitting in there right now, I'd take the$2 ,000, I'd throw it at a debt. That helps pay off about a card, card and a half. The cash box, too. Even two cards, huh? The cash box, too. How much is in there? Almost$2 ,000. Yeah, take that. Maybe you guys can pay off three cars. That speeds up the process decently, okay? It's still going to be very – the$55 is still going to – at that point, you'll probably have an extra$150 to throw towards debt, so$200.

1:38:17So maybe we brought it down from, what, 150 years to 75 years. I don't know. You know, it's still not great. But bringing that$1 ,000 a month in the house. Emergency funds. So because of that, you started it, but you have to throw it towards the debt. But I'll give you a 2 out of 10 to be generous, especially since it's sitting in a checking account doing nothing anyway. Retirement. I didn't see retirement. we don't have 30s no retirement zero out of 10 real estate this one's actually pretty good got an equity position we're a little nervous probably paying some pmi pmi but good equity position great interest rate pretty happy they're going to give you a seven out of ten just because you're likely paying pmi on it um our pmi should drop off pretty soon they should and i'll move it up when it does.

1:39:00What's a PMI? Okay. And that is going to be a hammer financial score. Two out of ten. Yes, because you didn't put anything down or on a conventional loan less than 20%. You have to pay insurance on it for the safety essentially of the lender on the loan. Okay. So two out of ten. A lot of work to do. Guys, make sure to join us in the financial audit post show right after this. Link is in the description below. We always get something extra that I was not able to find or something crazy that we couldn't talk about on the main because it'll get us demonetized and we can't have that. And make sure you download the Simpler Budget app today and get your two weeks free trial.

1:39:40Check it out. It's worth it. I promise. See you in the post show. You just blamed all the cars that you can't control on him. Sounds like this birthday party is something he cannot control. I want to go all out for her birthday. I never had a birthday party. She won't remember. I will. That's the point. I don't give a fuck about your memory. I care about your kid more than your memory. Is that controversial? To be clear, your desire for this memory is more important than your kids' future. Yes, it is. And that was a real answer. That was a real answer. To watch the Financial Audit post show, click the join button below.