Beta Boy Compensating With Stupid Car

30:13What's your new rent? It is$13.23. That's 40 % of your net, dude. I... Wow, maybe it was a blessing. At the beginning, I was like, I'll do crazy shit at 21 to make that much money. But you know what? with the mental maturity I had around that age. It took me many years to grow the f*** up and actually get my s*** taken care of. Maybe if I made this much money at that age, it would have hurt me even more because you've lifestyle inflated the f*** out of yourself. You didn't need rent that expensive right now at 21. Come on, we've all lived in a shoebox when we were that young, just trying to make it.

30:53You're just spoiling yourself. You're just... And you want to get a f***ing Lexus? this is like go my the my reason for i tried to choose a higher rent than some other ones in the area mostly because of safety i work in a really unsafe area and that's a lot of my days and so when i go home i don't want to feel that same worry i feel what are you talking about what are what city is it though you're working it's in south dallas okay there's a lot of dallas left besides that one area a lot of dallas i chose to live in arlington because my school is in fort worth so it's about halfway in between both that's not a completely unjustifiable reason but i know for a fact you could have gotten rent cheaper and it's not even just pissing me off that you did this it's it's what's worrying me is that everything man you've lifestyle inflated yourself in every situation your spending certainly has as well we haven't gotten there yet but in terms of where any purchase that you are doing you are taking it to the extreme pretending like you're making a hundred hundred fifty thousand dollars a year when you're not and you have this massive thing you want to take on called law school here in a bit you're putting yourself in such a hole it's it's it's beyond dangerous it's wednesday you need a free twenty dollars usually you get five dollars for signing up for acorns but using my link in the description below you get a free twenty dollars there's no strings attached make your wednesday better by getting a free twenty dollars for signing up for an amazing platform in the link in the description below and there's your leafy 41 and then interest is charging as well so we already have some student loans it looks like yes i that's for this this semester and the previous semester what was happening before then i was paying out of pocket for it what changed oh the last thing yes actually so you're so you're choosing these other debts for these other luxury items in an apartment that is too expensive for you you're choosing that over cash flow in your school good i don't know okay you you push back on the car maybe you can walk away from something to this conversation i really hope you do and we're going to connect you with good resources either way but more than anything my goodness if you are young out there and you're even considering this it's just like watch this watch this send this video to everyone who is about to go to school or considering a car purchase because this is insane this is insane and my mind is going in circles right now.

33:49And I like school. I'm good with going to school. Borrowing to go to school can be good. And I talk about certifications with course careers. I talk about trade schools. I love all that stuff. There's a lot of good ways to go about education, but the fact that you were cash flowing it and now you've actively chosen not to in order to take out more debt for luxury items is like one of the dumbest things I think I've ever heard in my life legitimately. like end my entire life right now this is so beyond stupid this is so before this is my this is my first car so before getting it i was walking to work good keep walking to work and then we moved so i could no longer walk um well you and your girlfriend moved yes yes there are cheaper cars believe it or not than$25 ,000 this is the only car I really looked at when I was searching I was set oh fuck me okay let's keep going let's keep going this is stupid so what does that count so what does the semester cost are you borrowing the whole thing yes it was$22.50 this semester and$22.50 last semester so$4 ,500 and then you're doing another year and let me guess you're financing that yes stupid

35:13so we're borrowing a total of$9 ,000 but that's a drop in the bucket because guess what we're about to borrow minimum$200 ,000 on law school and you gave yourself a hammer financial score a 3 that's hysterical that's the best joke I've ever heard I had a comedian on the podcast a few weeks ago but that's the best joke I've heard in this last year It felt fair. What are you, like a trophy? Like I deserve a trophy kind of person? Is that who I'm talking to? I thought my score, I picked a three just because I feel like I have a pretty good potential to fix this. It's not about potential. It's about where you are today.

35:52You're assessing where you are. It's not about where you think you might be. That doesn't make any sense. It's not the hammer future financial score. Is that what it's called? I don't think so. I don't think so. I'm being a but I'm

36:10losing it I'm like hyperventilating my vision's like because I'm like breathing so much of how just stupid this is $50.82 that's in our checking account yeah it makes sense to get a $1 ,200,$1 ,300 rent or whatever it is Chick-fil-A, Apple Bill, Chick-fil-A, Panera Bread Cash app and not money. You're sending it to your cash app. Ritz Carlton. Oh yeah, we're living that real bougie life. Well, what are you doing in a Ritz? That was Valentine's Day and an anniversary celebration. Well, guess what? That didn't work out very well, did it? Fair enough. That was mean. I apologize. I'm a quippy little But not the little that's necessary to buy a 2017 sports car.

36:58I think that the Tesla says some more though. That doesn't make any sense. You tried something, but that didn't even make any sense. Gongcha, Panera Bread, Cash App and Out Money. Whataburger, Cash App and Out Money, Chick-fil-A. I'm going to look like such a d*** this episode. So many people are going to be angry. Panera Bread. Oh, Nails and Spa. We treated the ex. We did. Rip. That's okay. I'm recently an ex as well. Not three years, six months, but. Nah. Well. I get it I'm hitting those apps we can be app buddies we can be hinge buddies we can suffer together I don't think I'll be doing that I'm not interested in moving on personally she was great yeah but also that's not how it works someone who's been through a few breakups that's not how it works was this your first breakup Yes, my first relationship.

38:00Oh, buddy. I was a little younger than you, but you should have seen how I took my first breakup. It was embarrassing. My goodness. My friends could tell you so many stories. I could not handle breakups. And I get it. You will move on. It might take a little longer. It's fresh. It is. How fresh? A couple weeks. Oh, after three years. Good. Yep, that's fresh. But we are still friends. doesn't sound like it from yeah not not roommate enough friends but well if you're friends you'd let someone not be homeless but okay chick-fil-a microsoft vioc panera bread apple bill panera bread mcdonald's cash up and out money some taquitos and doordash dash pass yeah that's what makes sense when we have 50 dollars in our checking account that's really smart that's awesome guys um taquitos taquitos you're just getting drinks and snacks at qt while you work there a lot of sometimes a small charge at qt is if i'm uh i pass a lot of other quick trips on my way to work and so if i don't have enough gas to make it i'll just stop and get what i need three dollars because sometimes i'm running a little late but i have you make so much money for to be a three dollar stop at a gas station i used to be a three dollar stop at a gas station but i made made no money and also i don't have to do that anymore that's another win you have to take a two-hour break to charge it though or more 20 in once a week at home while i'm asleep you have a home charger that's different i guess yeah not everybody's there it's like i think it was like 200 i think if you're getting like a 20 000 30 000 hour car after rebates you're getting a 200 thing to plug into a wall at home no i thought it was a lot more than that car guide knows nothing about cars.

39:50Interesting. Well, real cars. Real cars. Okay, and we're getting some taquitos and DoorDash. Cheesecake. CiderCade. AppleBill. Some Millennium thing. Center Place and Nails. You gave her lots of nails and she gave you lots of homelessness. She did offer me a place to stay. I just didn't feel I felt like I was I felt I didn't want to take advantage of just that she's just really nice and so she didn't want me to be homeless didn't want me to be out there you are not over her one dollar and a cash app thing it's mostly just I can't tell where a lot of money's going it's cash app payments between people and items but a lot of times there's money going back and forth between me and my girlfriend for bills sometimes but also So if we're at dinner or whatever else, it's being moved.

40:50And sometimes I would just transfer money to my cash app and then use my cash app card to pay. That makes sense. Yeah, this is money back and forth. PlayStation. PlayStation, you already had Microsoft, but okay. And some taquitos or just a$3 gas. And Chick-fil-A, Whataburger. I mean, this is fast food. Savings. Whopping. Zero dollars. imagine making that much money and just like choosing choosing to like potentially die poor and in debt so that's what you're doing let's do a little example before we go into any budgets or car talk because I know we need to talk about that again we are putting our arm around you in terms of this is the tough love but we're going to give you lots of love afterwards and we're going to do follow ups and all that good stuff but but

42:12That's how good leads the way. We'll give you some. Let me tell you, that guy that was filming back there, Noah, you know? Yeah. Oh, that dude's getting matches left and right on Hinge. I saw. He's going out on dates every, like, five seconds. I did see that that was about three months ago, though. He's a killer, isn't he? Oh, look at that beard, handsome man, handsome man back there. He is, you know, with the ladies. I've gotten, like, three matches since I downloaded Hinge the other day. that guy gets like three matches every 50 seconds so i'll put my arm around you financially but we'll get nowhere to put his arm around you like bro like wingman style you can go to the bars now see i hate bars but he invited me to the bars the other night and i was like i don't want to go because ew that's gross and it's past 10 p.m but maybe you guys can go you'll do some cold approaches you'll get maybe your second woman in your entire life and i'll be like well i've met my girlfriend my girlfriend i met her on tinder well tinder's pretty much out but yeah she was the first person that i matched with i know she sounds like the first person for a lot of things for you but um we're gonna grow beyond that 750 i'm in a mood in this episode you that's that whole car thing put my brain in an other level i think that you haven't experienced a great car.

43:37It gets you hooked. Buddy, I drove that car. If that's what's considered a great car, I literally drove it. Well, it's the entry-level drug to the car activities. 24.1%, that's entry-level. Okay, you're 21. Let's get to just 59.5. So, 39 years of investing based on your income i know it's not your dream job but let's just pretend that's what's happening you're investing 750 a month which is 20 of your net you know this is go conservative and then 8 annual returns which is the average return of the stock market from its beginning to where it is today okay yeah you'd be retiring at 2.4 million dollars also worth about uh you know 1.5 in today's money 1.25 okay that's what you'd get dude is that solid i don't know almost i don't really know anything about retirement is that a solid amount you could certainly retire i mean that's okay 2.4 let's just do the four percent rule because you'd be retiring in your 60s you don't need to have a last in like forever and ever multiple endless decades which is where you do three percent that's 96 000 a year can you survive on 96 000 a year sir okay and that's what you're giving up by going and getting a dumb car and going and getting a rent you can't afford when there's a lot of options and fast food 50 in our account not paying our minimum monthly payments on the two debts you have you're literally not paying your minimum monthly payments your credit score must be it's i think it hasn't really changed since what is it about 600 okay so it's definitely not great no and of your spending categories let's get some stupid stuff here this is stupid okay 13.3 percent of your spending or 618.42 because the debt payment it was catching up on that even though you're not caught up you're still buying you owe a thousand great 6.4 percent went to transportation probably gas and is car insurance included in that we didn't have the car insurance at that time so that percentage would be completely blown out but at that time it was$299.88 necessary food 2.3 come on that's groceries$107.49 that's insane we're going out to eat as 9.6 percent or$445.94 you're an adult you're three years into adulthood you don't not you do not need to be coddled anymore if you are incapable of living as an adult at 21 or 18 or 19 or 20 then you should be sheltered you shouldn't be able to go off to college you shouldn't be able to drive you shouldn't be able to rent a car if you're a child you're a child you're a child then you need to be treated like a child but you're not so act like an adult unknown shopping 13.3 percent of your spending it's typically walmart amazon don't really know what it is uh 618.76 cents miscellaneous bull up and getting to get us 5.5 percent of your spending or$254.70.

46:40Subscriptions, 0.6 % of your spending. Then the Big Whopper, and we'll go through the individual items, 49.1 % of your spending. Other large purchases are$2 ,291.42. And that's cash app money just going out. And that's where you send it between bulls**t. Ritz Carlton, because I'm loving that bouj. Red roof, dude. Come on. And a cash app loan repayment. I did. it's paid off now, but I did take out a cash out loan.

47:17You're too young for this. This like actively hurts to see. You could have so much potential. You have no idea with your income, with your brains. I got your SAT scores. Like we collect financial information, but I got your SAT scores. You're very smart. Yeah. I've been told. But you're the dumbest mother I've ever met in my life at the same time. I've now been told that too. What to do, what to do. So your spending was$4 ,464. Great. But again, the quick trip income was$3 ,301. No surprise, we're missing payments. And balances on debts are going up. We're not paying the minimums.

48:07Y 'all, this is the time to switch to my favorite high yield savings account. With SoFi, you can get 4.6 % on your money. I hate when my money is just losing value, so make sure you're keeping up with inflation at the very least. You can also get FDIC insurance on that money up to$2 million with them. Plus, they'll give you money up to$300 when you set up an account with them. There's even extra perks like being able to get paid a couple days early. SoFi is what I use when I'm setting money aside and it is the banking app of the future sign up link in the description below i always want my money to be making more money so don't lose money on yours if you've ever wanted to see disappointed caleb springer you have found him i do also get i get 200 a month from my my dad because he never paid child support and so kind of made a new agreement for until like for how long um how long did he not pay no no no how long until he doesn't until i graduate undergraduate so next may not permanent okay so let's include that 300 uh three thousand nine hundred fifty dollars a month then now comes in your debt minimum monthly what's your normal car payment remind me five five sixty five five sixty five yes what's the normal discover payment if you weren't being a dumb not paying on it it was like 35 oh what are you are such a little child six hundred dollars for debt minimum payments payments what's your new rent again 13 23 okay i do want to be very clear because i know i've been in like a mood this episode and i am just like i really do want you to do well i approach these conversations in like a just a tough love approach but i also like to meme on people it's just my sense of humor and it's also how i like people to approach me and i really do want you to do well and i hope you know that and that's where we start going into this and we're gifting you our budgeting program it's the best that can be found online there's there's there's a lot of good things that come from here this is the wake-up call and that's the point of this conversation this is the point of this channel not an invested channel i don't know why people would recommend that but that's the point of this and um i do want you to do better what's your phone bill uh it's i'm on my parents okay when you start your own get helium it's like 20 bucks a month but stand your parents until you got it well your water gas and electric what do you think it's gonna be I would say altogether probably maybe a hundred that's what they gave me estimate from the complex okay and internet have you signed up I have not okay well you're you're one of those guys that like is gonna get fiber from hub right no absolutely not I would probably want good internet though I'm gonna say 50 bucks gas you spent 200 dollars but your location is gonna be changing yes right so and i would say it's about 20 miles to school just give me your estimated gas payment what's it gonna be like 125 now probably about 150 i would say car insurance is what again 770 oh it's the most it's the cheapest option i found the general was gonna charge me 1121 with a no driving history got a sports car like the dumbest piece$300 for food$100 for grocery fund that's anything else you need to survive for your tp fund sorry groceries$300 tp fund$100 anything else you need to survive is there any ongoing medical or gym gyms 15 50 15 gotta get buff for the new ladies out there see my thing is i'm seeing how fat i can get for the ladies out there.

51:52It's so far. So good. Dad bod. Yeah, I think we've passed that. And your subscriptions, giving$0 doesn't really make sense.

52:05I think that's it. Anything else you can think of that you have to pay for? I'm not including your school fees. I should, but I'm not. I think that's it as well. I'm only 90 % interested in getting fit for the ladies. i don't i really have only used the gym to play basketball that sounds fun i like tennis i'd love to i'd love to have a workout routine but i feel like if i go in there and just do random things i would look like an idiot and make no progress um uh you know i think that's my fear too uh if you have a friend i think that can be helpful a friend to go to the gym with who's like a little more well-known but also i really i think people just focus on their own thing yeah people are recording themselves in gyms these days i mean they're just so hyper focused on their own thing just go look like a dumb because after a while you won't anymore that's true or just watch a couple things on youtube as well this site is free three thousand four hundred eight dollars maybe we'll talk about your potential workout routine in the post show that'd be great from no because like i can't help with that actually i do like lifting that what this show is getting off the rails save that for the post show five hundred forty two dollars is what you have left because what you need to survive is three thousand four hundred eight dollars on a monthly basis you could you should have more leftover but your car insurance is uh the dumbest thing i've ever seen and your rent is too expensive okay but with that my friend here's my diagnosis and prescription discover pay that off in two months easy that's done car you're not going to do this but this i literally only give the recommendations that i would do i pulled myself out of really bad debt worse debt than you and this is what i would do sell the car borrow the four five thousand dollars you need get a seven thousand dollar car as well so then we have a twelve thousand dollar loan and an interest rate your 600 credit score maybe like a 20 it sucks but that's twelve thousand dollars to pay off as quick as possible versus twenty thousand dollars you just save your self eight thousand dollars and potential interest as well so with this

54:19i'd also be working as many hours as you can try to get that as higher as you can but sure i've been working 65 70 recently okay because it still takes almost four years to pay off that which is beyond bad and you're going to be deep in law school and it's just like you're not going be working as much while you're in law school if any because that's basically a full-time job so

54:45wait a second no because you're going to sell this car you're going to get a stupid just basic sedan or just even an suv whatever your car insurance is going to be so much cheaper and that's going to allow you more i think you can pay this off in a year and a half because your your car insurance should be minimum half the cost because you're not being a dumb um do you have any arrests any tickets any car crashes i don't okay so yes it's your sports car clearly at your age so like no no you're gonna have so much more money to throw at this this is great so i would 100 do this because in a year and a half basically that car payment's completely gone now looped up in your beater and your discover is completely gone and then so actually after graduation what i would do is this one year gap two full semesters that's what one year is yeah um i would do that so that you aren't you don't get law school because you could get something bad happens and you just can't afford anything and like you're not getting approved for extra loans or grants or whatever i'll also apply for as many scholarships and grants as you can you're smart you know how to do it do it um but what that one year does is gives you that first of all if you go right into law school all of a sudden that six months that you have left to pay off the car or the personal loan in that case which is making up for the car um you're not going to have time to work and this is going to be extended and it's just still more minimum payments than you can afford so you'll just be borrowing to pay those minimum payments it just gets bad you've made the choices you are now you've made adult choices that were stupid and you're dealing with the consequences now the consequences that your dream of going to law school is going to take one extra year that's fine you're still going into law school at 20 two and a half 23 like oh my gosh oh no we're making lawyer money at 26 that's terrible that's crazy or when i don't know how long it takes to make lawyer money because i know you gotta you eat for a bit right but either way years and then you got you don't get straight into the real yeah but either way you're gonna be making decent money by 30 which is incredible you're already making decent money now but you're gonna be making great money by then and that's fantastic and then you're going to aggressively pay off the loans and then at that point you're gonna to be catching up on retirement as quick as possible you know and that's what the exciting stuff is like i love buying stocks through muumuu i love my solo 401k and all that crap through fidelity there's a lot of great things that's where the exciting part of the conversation really goes but we're not there yet and what really here's what terrifies me let's be honest i don't think you're gonna sell your car and there's there's no way is it gonna even okay this is what I think is actually going to happen.

57:17And I'm sorry to doubt you so much, but I mean, just based on this conversation, come on. You're going to continue accumulating student loans. Your car is going to just not get paid off. You're going to be doing, you're not even going to be paying your minimum monthly payments on the data discovery. You're going to be going into law school, borrowing all these hundreds of thousands of dollars. You're not going to have any money to make your minimum monthly payments on all the loans you've accumulated because you You spend all your money and now you won't have an income at that point. And you're going to be in such a bad spot where you might even drop out with all these loans.

57:55You're going to, you're just going to be, you're going to be working into your late years just to pay off the minimum payment that you didn't pay five months ago. And it's just going to be this reoccurring, terrible process that is crap. And we've seen these people that are in successful careers who are smart people that have just been dumb their finances and it's gonna It's gonna ruin your life man, and that's not what I want to see you're young You're smart you have the ability to live a good life, but you are not living that good life right now. I think that the The car is hard it'd be hard to let go built a relationship with it buddy you're already getting over one relationship you can get over the second one I'm not over that I'm not make that clear I take one one at a time this isn't the TLC show with the strangest addictions you're not making love to that car you can get rid of it dude you can get rid of it if you're still watching and you've seen that episode it's very weird let me know in the comments below all right let's get your hammer financial score well one thing i wanted to mention about the student loans is that they could have been non-existent if i i was offered from through my high school into the community college free tuition for just graduating high school and going straight into the community college but my first semester i ended up withdrawing from all my classes and that voided my...

59:35So you didn't go to community college though? I did. That's where I am. Okay, and you were getting free... That's where you are now? Yes. You're getting your bachelor degree from community college? Well, I'm getting... I have most of the credits that will transfer. When are you going to the university? I would have to in the fall. And only for one year? Yes. Okay. Why did you travel? It was... I had a lot of mental things going on at the time and I it I could have still kept up with my classes but I essentially tried to preserve my mental space what was going on just lost it was I was super I guess disappointed in the fact that I was in community college because I was going to Texas A &M

1:00:26until it was COVID. It was the year. It was 2020. And they were going to have us pay full, get a full loan for housing, but there was no in-person classes. It was all going to be online from the dorm. Was your housing covered through this program? No. Oh, okay. So I thought that would be a dumb decision. Aren't you living at home though? It was community college. I was. But if I went to Texas A &M, like I originally planned. Well, why would you have if college was free? I mean, the saddest people in life are the ones who like grasp on to the college they went to. Like they're never able to move on.

1:00:58And that's the highlight of their lives, meaning the remaining decades of their lives are just sad and depressing. That's true. Like who gives? It's a place where, I mean, it's okay. Texas A &M has a disappointing football team anyway. So it doesn't even matter. Like, okay. But that's your feeling. Yeah. I'm not going to invalidate it. Actually, no, it is stupid. But that's okay. Because community college is great. And more people need to know that. I've realized no. So you ended up going to community college, and that's what you dropped out of for a second? Yes. I started at community college, and I had about six classes.

1:01:32I saw that my grades were falling behind, and I knew that if those ended up on my record, that it would be really hard trying to transfer out of the community college into a good school to have a solid school on my degree. So I just withdrew from them so that the grades would be redacted, basically. From the record. And that voided my eligibility for the free tuition. But you're back in. And now you have to pay for it because of that? Yes, and that's what the loans are for. Spending your budget is ridiculous. You're not making your payments on your car, so your spending your budget has to be a zero.

1:02:07I mean, people hate it when it's a zero out of ten, but I think there's going to be a zero. I mean, just look at these. I mean, you have nothing in your debts. You're not paying. So, I mean, I'm sorry. Sorry. We're not complaining about it, but zero out of ten is your Hammer Financial Score. make sure to stick around for the post show we'll dig into some more stuff and it'll be fun and check out the links in the description below as they are the resources that i use or would use in specific situations including the best budgeting program in the history of the internet today on the financial audit post show so noah i hear that our boy ian over here likes to his car wow we're really diving in for people like you you're just being a dumb you were just being a dumb piece of stupid.

1:02:47To watch the financial audit post show, click the join button below. Make sure to check out the link in the description below to get 35 % off select LLC plans from Taylor Brands.