Broke Mom Is Mad I Won't Date Her

0:00I calculated with all this income that I'm making and all my bills that I have to pay. I was left with like 800 a month. I'm so excited. Hi, guys. My name is Adriana. I am 24 years old. I am born and raised here in Austin, Texas. And this is Financial Audit. Wow. One of the few people in Austin who's actually from Austin. What do you do here for a living? I am a paralegal. Are we making the paralegal? Yes. That. OK. That screams a few different things. That's either like way too many hours with way too little pay or. OK. What are you doing? I work 40 hours and the salary is 50k. Okay. So in terms of working in the legal field, you probably want to make more than that eventually.

0:42I do. I need to finish my bachelor's and then I want to apply to law school. Oh, okay. So you haven't even finished your bachelor's. And this is actually, this is pretty good. It's pretty good. How do you feel living off of 50 in Austin? It's not my only source of income. So I think. What else do you do? So I work at a church in Tarrytown. or is that too specific no i don't think so but that's up to you okay yeah no i work at a church at in terry town i take care of little kids so just on sundays okay how much you make for that for like a couple hours 20 an hour for four hours oh every sunday so like 320 a month about mm-hmm yeah yeah so fifty thousand dollars plus 320 dollars and how do you feel living off of the 50 plus a 320 plus so um i have rental income i bought a house when i was 21 okay in san antonio and i rent it out and so the mortgage is 1250 yeah and i charge my tenants 1900 so passively i think that's like 700 yeah and then plus i guess if you count child support you get child support too yeah okay how much uh 320 a month how old's your kid he is turning to february 17th wow so we have a lot of different streams okay the rental property this is interesting we have a hand zone with the rental property but so yeah we have net 700 but but or do they cover all utilities and everything okay do you set any aside for future repairs do you set any aside for future vacancies i have a security deposit so no no as you can see about my i think it's the chase business account that was like well i was unemployed for six months last year and so that's why all this debt kind of accumulated yeah because you have way too many sources of income for what we're about to go through no yeah this audit sounds like oh my gosh someone just came on and they're just doing incredible but that's like what i went through like all of a sudden this is like i have the trauma dump and then you understand you have a what i have to trauma dump and then you understand all the oh all the credit card transactions that's everyone's favorite thing on the show no literally I'm going to see the comments are going to be like, trauma dumping.

2:52Well, hopefully not. Don't be that mean. You should be setting$117 aside on a monthly basis for future repairs and future vacancies at the minimum. At the minimum. Wait, you said$117? $117. Notes, I like it. It's rare. So$583 would be your cash flow. Okay. That would be your cash flow on a monthly basis because the rest would be set aside. Okay. Okay. so i mean the trauma dump um i mean give us a brief version because we're about to go into a bunch of debt yeah and stuff or maybe we can go a little into the debt then we can talk about the story but give me your scores here to ten what do you think your score is on a financial scale as of right now standing with all my debt to income like one okay like i just started this job in january that's why now my income is like above i feel like it's above like where i can like pay all my bills and have some left over okay so we got a big daddy credit card right here which one this is apple i mean there's a couple big daddy credit cards yeah there are we're sitting at four thousand twenty dollars twenty nine cents it went up three thousand three hundred eighty three i thought you're getting your together but it went up how's your previous balance minimum payment and trust me these back up now we're about to go through okay 158 dollars and seven cents on a monthly basis and this makes no sense this makes no sense if this is going up and this card is accruing interest we have a bunch of other debt that we're trying to pay off and we're finally in a situation that's good and we're ready to start attacking different things what yeah nothing go on well you're laughing and smiling and like because you're just funny okay what i'm just it's dead that's not funny to me but like okay I know my personalities are weird your personality is funny it's charming Popeyes TikTok shop you're shopping from TikTok $7 first of all say the amount $7 $7.26 yeah and I wanted a perfume and it was only$7 so I feel like valid it was cheap go roll around in some grass and flowers what is this if there's debt that you can't pay off if you literally can't pay off debt I think you smelling and extra beyond clean is the least of our concern.

5:18Okay. And trust me, I'm not like, I am not the guy that says, oh, don't get Starbucks and don't go out and do this kind of stuff. That's not me. But when you're in debt and you can't afford to live and we have mispayments coming up. We have mispayments coming up. If we have mispayments coming up, we're not getting perfume. That's when I'm like, no, don't get Starbucks. That doesn't make any sense. But I'm not the don't live. I give people 30 % of their income. 30 % of their net income, I say, go spend money on fun. so when you go and do this it doesn't make sense you're trying to pay off debt you're missing payments it doesn't make sense to do it right now you cannot afford it okay so don't seven dollars it was just seven dollars it was okay i know it was just seven dollars that's seven dollars i could have gone towards that and not only that but it's the death of a thousand cuts because because again i went what what i started with popeyes and then i only said a second thing or like oh seven dollars look how many look how many lines there are we're about to go through a lot of lines i wouldn't be laughing about this dutch bros that's hilarious hobby lobby comedic p terry stand that's a comedy show right there dinada cantina rain on rain on what's raining on what are you what's raining on you you're raining the dollar bills on rain on that was we just my co-worker and i just went out to eat i guess my ex-co-worker for the last job and we ended up at fourth street fourth street rain on fourth it's like club oh okay i mean i know sixth street but yeah it's uh why don't i want to say that on here what it's like the gay district like the fourth street like pride district yeah all right cool well oh that's why it's rain on right rain on yeah rain on fourth yeah so i recently discovered that my monies was getting taken away from me without knowing I was getting charged every month for a subscription I hadn't used in forever.

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7:43Simply select how much and how often to contribute, and Rocket Money will handle the automatic deposits into your account. So go to rocketmoney.com forward slash Caleb or click the link in the description below to start your free trial and unlock premium features. Trust me, this app is a game changer. Right, right, right. Cool. And we couldn't afford that. Sea tickets, fantastic. $96 that we certainly did not have. Denny's, I feel like we could have better food than that, but we chose to go to Denny's. Old Navy, did you need what you got from Old Navy? Did you need what you got from Old Navy? I'm trying to think what I got at Old Navy.

8:21See, you don't even know, so no you did not need it austin eyebrows what we're doing is we're getting a little trimmer going if you look wait pause if you look at my other expenses previous i was doing it because for the job interviews but it was 12 okay i see yes a lot of debt but at this point and that's what you said about the seven it's 12 but seven all of a sudden you stack the 12 7 12 7 12 7 12 7 and repeat every single day of your life where does that end us that ends us in a missed payment because I was laid off for six months no what no no no it's because you're prioritizing your spending on bull okay okay let's just say you were laid off for six months and that's the reason why okay you're laid off should we be doing this of all things while laid off so that's the worst excuse you could possibly have oh I got laid off so let me go spend all my money I hate this episode you hate this episode yeah okay go why do you hate this episode because I'm gonna get nothing well be nice honestly be nice people come on here they're in the hot seat i think everyone thinks they look a little better than when they come on which is the purpose of this because i am coming here and or you're coming on and you're getting your a little you're getting your kicked a little to get a fire under that so that you actually improve your life and become an adult for the first time in your life uh personal finance speaking so it's a very mature and respectful thing to come on here and i think it's very brave and very cool and um because i know it's the hot seat and then you're gonna be in front of hundreds of thousands of people and yeah i mean be nice be i mean there's really no reason not to like i mean i come in here and i'm like but we want to hopefully end it on a positive no actually we can uh brandon if you want to insert the clip here you were like we're talking beforehand and i think you actually realize that unlike a lot of people that think this is just a show i'm pretty much the same person off camera as i am on camera right yeah he is yeah clip please yeah are you like this on dates what very like i want to i just want someone to film him i know i want someone to film him on a date oh oh what what like you're very like not standoffish but direct oh i'm very direct this is like but like are you like that on a first date maybe i don't know i'm just like i i want to Just like, you know, we got a thing to do.

10:41So I'm just like, here's how to do it. Here's how we do. Yeah. Got it. Yeah. So that's fun. And yeah, maybe I am like this on dates. I don't know. P. Terry's, Dan. I want to be taking someone there for a date. Lyft Ryan, the coffee bar, might take them there. Texas Thrift Store. Pelomino's Food Truck. This just stacks up, dude. This is just stacking up. More tickets and more tickets. What are we getting tickets for? One of them is dispersed. I dispersed it because I was originally going to buy the more expensive one. Bad choice. For what? Of what? What are we doing? It was for New Year's. What on New Year's?

11:24I went to the who and where. What? I don't know what the f*** it is. It was an Instagram page. New Year's Eve party. Who and where Austin?

11:37When did you get this job? january 1st cool no no i i got hired on december mid-december so you weren't collecting a paycheck and you're like let's go to a instagram party yes especially when we have 68 dollars of interest secured in one month wait pause okay i do not be looking at the screen okay i the only reason what i'm gonna say about this is i feel like it you haven't really asked me about my situation so i can't really well i said i wanted to go through a debt before we go to the situation so boom we went through a debt go ahead trauma dump here we go everyone hold the two times speed button i'm kidding no i want i respect and actually want to hear what you want to say um i just know that they're gonna yell at me for allowing you to talk i know it's fine who's gonna okay anyways um so single mom so i will say at least once a week i'm like hey i need to bring i'm not gonna cook so i will go out and eat so that's that and then my son goes with his dad once like a week and i like work two jobs oh i work two jobs and i go to school right after that so it's like waking up at 5 45 going to work picking up your son then you have to cook clean and do school work so when someone's like hey like do you want to go out you don't really go out i'm getting emotional um i i take full advantage i'm like yeah you know let's go out but as of recently like i like who says go out like friends yeah like friends um i was gonna say make that a date and make the dude pay for it so i've been doing it now okay listen hey power play i'm adding you to my roster no just kidding oh all right well okay no but um seriously when yeah so i think that's where i was gonna come in and say like that's kind of my boundary in like regards to like hey like well that's when i put in the application like your unique outlook on life where I said I don't think you should not splurge yourself for trying to pay off debt.

13:40I know you said death by a thousand cuts, but I feel like$7 or just take out once a week. But what did we just go through? Dude, that was every other day. That's not once a week. There was a period. There's always a period. There's always a unique month. That's how it goes. So let me push back on something. The eat out every once in a while. Let's just say it's once a week. even though obviously clearly objectively it was not it was more than that but okay i'll say just once a week this is what i say for you being a single mother yes that makes sense that makes sense from a desire standpoint from a you honestly deserve it standpoint i get that but thinking about the future for your kid i know i don't have a savings i don't have a 401k yes i know that's scary i would i it sucks and i don't wish it upon anyone this isn't a i wish so this isn't i wish the world was this and this who does that help i could sit on here and be like oh man i don't think you deserve this what are you gonna walk away with you're not gonna walk away with any help in the reality of our economic system what is important for you to understand is the more and more you do that the longer you're delaying getting out of debt the longer you're delaying having a full-funded emergency fund, which is necessary to have a roof over your kid's head in case another layoff happens.

14:59This is delaying you contribute in retirement, which is you're giving up years of compound growth that you need to take advantage of to have a comfortable retirement in our economic system. And if you do not do that, you'll be putting a pressure on your kid, not that you're intending to, but a moral pressure regardless for them to take care of you because you never saved up enough money to retire. you never saved up enough money to put a down payment on a house well you actually have a house so that one doesn't apply to you but you just don't have enough to actually survive and no one is gonna let their mom die on the street so they're gonna put their we've had people on the show that are taking care of their parents because they were not responsible because they go out that once a week instead of paying off their debt and getting their together and being a grown adult who does those sacrifices those sacrifices that i wish you did not have to do but you have to do because it is the reality of the world and it is counterproductive to say anything otherwise.

15:56Again, a lot of people say, oh, Caleb, you're just mean. You don't want them to enjoy things. No, I want you to enjoy. I want you to have an incredible life. Again, it would be irresponsible for me to sit on this side of the table and be like, oh man, you shouldn't have to do this. Okay, now go on. That doesn't do anything. The reality is in our economic system, you need to retire. And if you do not, your kid will put their life on hold like many people have on this show to take care of you and you delaying that is irresponsible in our economic system listen and i know where you're coming from like i'm not saying anything that's like going against what you just said no no i'm not disagreeing um i know where you're coming from because i was raised by a single mom and she died when i was 17 so sorry i'm i don't want to cry i love the i'd be crying i'd be crying and i'm sorry um oh take a moment there's tissues okay it's okay you are totally okay i was like i'm not gonna cry i'm dude um i did have a savings i had 12k and that's what lasted me three months of the six that i was laid off good i'm glad and i did apply for unemployment and they just weren't giving it to me how long did you have the previous job since 2021 i got laid off from a century in march through texas you're trying yes it was yeah and i applied and then i applied for wick i applied for food stamps and like they were because i have an asset over 150k i can't do anything like i can't do affordable housing they didn't approve me for wick i don't know why and then food stamps when i called the lady basically was like you have too much money and i was what this point you haven't gone through the finances but well the other ones but she like i had 4 000 but like the i don't know what happened with the house like the pipe had burst or something and she i was basically trying to tell her like that money is going to be gone by the first and they still wouldn't approve me for food stamps so a lot of these charges too like they are on the credit card like if you see target it's probably like shipped or something or like just any random grocery store cut what the bubble yes you zoom in i'll cry i'll see i will cut the bubble for you the bubble has been cut they're they're hearing about the bubble but they didn't get to see the oh okay um oh it's okay uh well no the bubble's okay but um okay well i'm glad you had money saved up i think i understand the food stamps thing and i understand the housing thing because it's meant for people who don't have any money and you did have money the unemployment thing though you're i mean you're paying into that crap you're paying into the insurance program i really don't know why you would have been denied i must be ignorant to something that i'm well no i went and well i went on the website and they're like oh like identity theft and they always say that stuff okay like i think it's just like a random like a mass message so i call and the lady's like well there's nothing on my side and so i i still try to log in and it's like just not but i did see in january that they did give me one payment of like 452 so i and the last time i requested was like in june okay well i think it's time to make a phone call again yeah okay we have a car what is this car uh 2019 honda hrb okay we have the balance 24 000 28 and 49 cents did i allow you to tell your whole story was that your story uh well i mean as you go into stuff like i'll explain like how i got into that car and not like the previous car minimum monthly payment 458 dollars what is the interest on this thing 6.99 not the worst yeah not the best yeah i mean it's basically seven percent and then you take in depreciation and well you know yeah i had a nissan ultima it was like 12 it was 14 they knocked it on a 12 i had a toyota that i traded in so i think that's why it went down i owed six but the ac had blew out and i was already having like car problems with my nissan ultima see that's not a reason no no no they were the only quotes i were getting were like 3k and i was like what oh six and i got it i basically only paid what a few thousand so and that and then i know ultimas aren't reliable whoever says they are they're liars they're not reliable i had a 2013 ultima and the transmission died like immediately no yeah so i know ultimas aren't reliable because my first car was a toyota well i think it was so there was a year range where the transmissions were funky if i'm not mistaken yeah um what i basically traded it in and i still got nine they gave me nine for the value of the ultima and owed six so then that's why i had just got a honda like that's why i'm pretty heavily how much were you making in that last job 22 thousand no no no 22 an hour at a center does that come out to a year i don't know 45 000 i mean wouldn't be upgrading to a car debt that is half your income i know well it's half your income at this point no yeah especially because an ac went out i know you said you have other problems i don't know what they were uh but that's no i know the debt and so i wasn't anticipating so i think i was laid off in march i moved into my new apartment which i didn't have like a choice of like moving into i was staying in someone's apartment south austin like unofficial sublease and she was in a toxic relationship was like i need that apartment back for my kids and i and so then i was like where are my son and i gonna live so i went on like a spree to go look for apartments and the apartment that i live at now was the only place that was like we don't do three times the rent we do based on your rental history and your credit score okay and so now that's why i have rent of 1674 like and then i got laid off like a few months later and i had increased my car debt so like i went from 1200 in rent well this car is too expensive for you for your income now it's still too expensive i mean the balance on it is half your income i try to refinance but even at rfcu i looked at the rates and they're still high balance though i mean refinance for what your interest rates aren't fantastic but it's not even close to the worst we've ever seen on the show i mean what are you going to get it to where rates are today your balance is still going to be your balance unless you're putting an an amount down on the refinance.

22:24So I'm not sure what that would do, but this is too much for your income situation. And that, again, sucks. People can be like, oh, I don't think you should be able to get a car. I'm just speaking for the comment section today, apparently. But it's not about that. It's just simple math stuff in the reality of our economic system. Again, that is an expensive minimum monthly payment. That's where things start getting a little dangerous. This card is... Oh, yeah. All the way. This card is like death Like gun to my head immediately 30 % at like what 10 ,500 Why is there$10 ,000 on this Okay back to The South Austin apartment I had just moved in right so I Bought furniture What was I saying In the South Austin apartment South Austin apartment How that all started I did buy a lot of furniture And my baby was on this yeah and savings and baby stuff because my son was just like he was still like pretty yeah so maybe we didn't get the furniture then right okay and then i didn't have any like the only thing i had a bed like i just got like a dining room table like couch like little stuff infant needed to sit at the dining room table no but i got the dining room table because i thought i was gonna live there like longer than i did at that you had to put it on 30 credit card and you knew you had baby expenses i'm not done explaining what i'm talking about caleb thank you um so then at this point the pipe under the house had burst at the house in san antonio and my deductible was a lot and i didn't have that much to like pay the deductible so of course credit card swipe um then the dryer broke how to buy a new dryer and then of course the refrigerator refrigerator went out over there too so it was just like a bunch of stuff that was happening and then my apartments too like i didn't have a washer landlord though no i seriously and i didn't have a washer and dryer so yeah i then i bought myself a washer and dryer yes it yes it was on the credit card and like i shouldn't have but like that was my life rented a washer and dryer for a while and i didn't know that i mean i guess but that was my lifeline like i mean i the first ones i bought were from habitat for humanity when was this 2020 i got laid off in 23 what was your job that was the center that was i was there were you laid off during this yeah no no no no no this was all like i had just moved in bought all this stuff was still working so when was this when was everything that you were just telling me everything that you put on this card when was this right like before i got laid off right before you got laid off yeah like i wasn't in there long and then i got laid off you had 15 000 saved up no no no yeah you had you said you had 12 000 saved up from that was five was from in contact so what is uh 4 000 hours a month base no that's literally how much my bills are now well we'll we'll go over it now yeah because that's how the bills were then no no no it was like 3 000 a month then okay so you should have been able to stretch it an extra month because you were probably spending a few money i will say yeah during that time too i was make no money how are we just swiping on what's crazy is the minimum monthly payment on this is a thousand thirty eight dollars thousand thirty eight dollars for someone who makes fifty thousand dollars a year well that and i was doing minimum payments for like so okay this is insane i know it's 258 dollars of interest at least you're not spending on it well because you can't You probably would, but the credit limit's$10 ,000.

26:04No, I would. And you're at$10 ,558. Gosh. That's 30 % interest rate. $258. Interest. Charging on a monthly basis. That's insanity. What, 258 times 12? What is that? It maxed out. $3 ,000 a year? Okay, wait. One, don't take it for, I was just swiping, and that's how I got to the balance. That's not what happened. I was doing the minimum payment, and interest on a minimum payment that has a high balance, of course it caught up. like i that's not me swiping for ten thousand dollars worth of stuff well mathematically in general then if you were actually hitting the minimum monthly payment technically it would go down little by little by little because the minimum monthly payment is a thousand dollars the interest that accrues is 258 you'd make 750 dollars of progress so no i missed but you're also no i missed two payments when like these last two months because i just got paid at the end of January we get paid once a month and it's at the end of the month what was your previous job before that you're making$22 that you got laid off from that was a center well what was your role I was at customer service okay okay yeah and how many months was it again before we got hired so um from how many months was it between your layoff and your new job I'm trying to tell Caleb quit interrupting me please I got another job in a law firm here in Texas.

27:29And I will say this is where I messed up. Why can't you just answer my question? I'm not trying to interrupt you. I just want you to answer. Okay, then think about it. I mean, instead of telling a story, I'm just asking how many months.

27:52I've never seen someone have to do calculus. Stop. job uh well no but i'm you're thinking about the total times i was laid off but there were like little things in between so i'm trying to calculate like oh like when did i work there when did i do this oh so you didn't have other jobs yeah yeah so so i was like why did those jobs and then in june that's when the severance pay like we had severance pay until june so in june in order to graduate and i need in order to graduate okay anyways um i needed to do an internship so i did I went to Houston and a favor of like a friend they knew an attorney and they let me internship there for a month and they paid me like a hundred bucks a day then from there still didn't find anything for like September so three months then I started working at this law firm in Texas I was there for like a month and a half and then mass layoff across Texas and then from September what november i got laid off right before thanksgiving sorry i forgot that that's happening i got laid off right before thanksgiving and then i just started this job like january 1st january 2nd what kind of jobs have you been applying for during that time though that's a long time a lot like no like if you look at my history a lot like yeah director were you doing like customer sir i wasn't doing like retail or fast food for sure why because that's where like anyone can get a job like literally anyone can get a job today that's the one industry that literally anyone can get a job today again that's not where i want you to work i have this conversation with so many people on every episode yeah that's not where i want you to work but if like we've ran out of our savings and we're still spending on bull we can't afford to survive i think we're taking a paycheck from anywhere because any paycheck is more than zero dollars so why were you not going out and getting that money i mean i the only thing i'm going to give you an excuse is an excuse and it's because i didn't want to work at a retail or okay and that's a childish and it is but even because you have a kid to take care of yes i know when i was working at i was about to say i can't say their name um when i was working at this law firm in texas um i would 20 20 was not like even covering my bills no like i would still have to like congratulations one dollar is more than zero dollars no i know that's that's not like you're no and i had interviews light up before i accepted this sorry that's not even the paper before i accepted this job that i'm currently at i had like seven interviews lined up and i canceled all of them because this was like the first job and it was like oh yeah we're gonna you know like you start this day this is your salary yeah that's great but until then i just you had months and months and months i know you didn't i'm just saying you're wrong for that okay do you accept that you're wrong for that no no you're just saying that thought what was that thought what's going through your head how how how how any money 15 an hour for 40 hours a week is congratulations more money than zero dollars when we can't afford to live i'm not saying that's where i want you to live i'm not saying that's what i want you to do for the rest of your life that's not i'm not even saying i want you to do that i'm not even saying that it's going to be enough to survive but if you have no money and you're not getting unemployment or food stamps or anything you need money which requires work which might be at a job you do not like yeah you're gonna take me off your roster after this episode yes you agree i agree caleb i don't think you agree i don't but we're just gonna keep arguing why did you know but i want to hear how you do not agree how do you not agree that one dollar is better than zero dollars how how do you not because because i'm wondering because the The reason why I want to understand is because if your maturity level is not there, then what's even the point of the conversation then going forward?

31:37From the, let's just say law firm number one because I can't say the name. Law firm number one to this law firm was like a month and a half. I had enough savings. I pulled, well, I thought I had enough savings. I pulled out my stocks and I pulled out my acorns and I paid my bills. I tried to pay my rent through that. Oh my gosh, this timeline, no offense. I know, it's kind of iffy. We need like a back to the future diagram. No, we literally do. because i'm like trying to use my fingers you like timeline of where everything is it makes sense in my head because i see it where are we it makes sense because i i'm like looking at it in my head i was here yet i need him to snap half this table now preferably your side i don't get it how many months did you not have a job six so why were you not willing in the six months because two of them like i explained earlier i got severance pay then i had the internship that i don't count as a job i'm counting that as a job how many months were you not getting paid so june so three okay four okay

32:48that's when i was using the savings but you said you fully drained it what happened when you no No, no. When I tell you. No, listen, don't crumple it. When I'm telling you I used the savings, this was in this time period. This period, phase one, was credit card. Relying on credit card. Does that make sense? And you weren't willing to work instead of using credit cards? I was getting severance paid. Then I did the severance ship. And then there was like a hiccup where I should have. Let's look forward. Okay, anyways, yeah. $6 ,537 on a Costco card. You purchased a little. Nothing crazy. Like 13 bucks.

33:22but i wouldn't be purchasing on a card and i don't even think the credit limit that 115 of interest is accruing on on a monthly basis and i don't think it was a purchase i think it was like a subscription that i need to like remove that's a purchase and you should it was two peacocks who even uses that service it's like the worst of all of them i watched coherence last night you watched what coherence it's a movie okay okay service finance company oh this is your hvac system yeah that was also part of the thing the ac went out the ac went out that was another big thing the ac went out so then i had to get a loan to pay for it are you sure you want to be why aren't you living in your house i don't like that ear well okay it's like no i don't want to because of the passive income like it has been i don't think you've made a profit on this at all helping you you're ten thousand dollars in a debt for this you had to go buy the fridge like you're not doing this correctly you're not setting money aside for future repairs which would have helped offset this and okay no like i get that but i was using the money that i was getting that's why on the chase and i don't know if that's legal on the chase business card you were saying like personal transactions because i was using the money that i was getting from rent to like pay stuff minimum monthly payment is only 158 yeah yeah what's the interest on this i sadly don't know i don't know that interest uh 12 that's death that's insanity that's stupid well i write it off so on my taxes because that's like a house repair and so is the washer and the dryer and like everything else even still i mean you could it's still death because not only is it debt not only is it risk even if you are even if it does uh right off from like whatever llc or whatever you have formed under your house yeah under the house even still 12 like you're probably not beating the market to that anyway even if it's deducting from certain things it's not helping you rbs what the f is rbs and why are we late that's my utility um no i shouldn't be late oh no that was from the month where i was no listen okay that one i was i paid it that's my utilities that's when i had pulled my money together from acorns and robin hood acorns well yeah because it was like pulling and like that's like my emergency like i don't even look at that like i don't know how much money is in there until i'm like oh shoot i need some extra cash and then i go and look in there that's not that's paid because i would have already been evicted if that wasn't paid that's my utilities that i only brought that document to show like yeah my rent 1674 but that's why my you're past due that's an old bill how old what date is it you have to again i would have rather you this was last month this was last yeah that and i was oh ancient history that oh my gosh okay dug up from the pyramids this one if i if it wasn't paid don't say that it's not paid if it wasn't paid i would literally be evicted right now well i don't know it was past due as of a month ago so yeah and i paid my rent yeah they sent me that on the fourth literally the three-day grace period on the fourth nurse to vacate.

36:38But you weren't paying it. It's paid because I have a check, Caleb. I'm glad you have a job now. Me too. Okay.

36:52Federal Credit Union. Oh, yeah. My bank. Oh, they must love you. Because you owe them. Oh, for the personal loan? $2 ,850. That's what this is? Is it a personal loan? No, it's a Visa Platinum card. Oh, yeah. that's my that was my zero balance like transfer um so before so when i got into the debt i was like i went into and i was like hey like i need to learn how to like tackle this and she suggested the bank teller suggested the zero balance transfer and then our plan was well yeah it's zero i know it's zero percent until july 2025 so i know that and so our plan was if i just put in three pay put in three pay yeah but where did you transfer from another debit like another credit yeah which one uh i don't even remember and you probably built that balance all the way back up doing minimum payments no that's not how that works remember no no no no no you'll still technically make a little bit of progress with minimum monthly payments and i'm telling you okay well if it was the capital one card i'm telling you i missed the two minimum payments because it was 674 at one point and so that's when i called yeah and i called and i told them i was like hey like can you put me in a program anything and the only program she could put me in was well if you pay 674 while you're unemployed and you can't pay anything like that's the only program we can help you with like they couldn't defer it or anything so then now on my credit report it's like hey you got too late payments yeah that makes sense hey money that you owed and signed a contract for what is this is your wait wait i pay 100 on this credit card every week every week every week look at my statement wait why but the interest rate on other ones are because i'm trying Well, my plan was to tackle it and then transfer more and tackle that.

38:38That's weird, man. Is that a bad plan? Well, especially since you're just building the balances back up on the other cards. It's counterproductive. This isn't making sense. I'd rather you just pay off those other debts, chop up every credit card, burn every account you've ever known because you're not a credit card person. Okay. Balance transferring, paying that off as quickly as you can while you build up the balance again. Well, no, and not even that. but if this is paid off okay let's just say that i have an emergency like right now standing i don't have a savings like emergency savings so as you're gonna hate this but like this would be my lifeline if i had like a tire expense or like something went out in my car like there's only no well it's no it's like you can borrow like 700 on here that's not gonna give you a big i mean no but like as i'm paying it off like this will like be my lifeline until i build up a savings but i get it But the thing is, technically, the other card could be as well.

39:34Now, I know they have higher interest rates. But with the way you're doing this is you're transferring it from a 30 % card. But then whatever you transferred from the 30 % card, you're putting right back on the 30 % card anyway. But no, like, I promise you. Yeah, you saw those statements. But, like, I haven't been swiping. What is this? What do you mean? We went through the Apple card. We went through the Apple card. You've been swiping like a... Swipe or no swiping. oh that's my uh rent that's like the total like i just brought it just to i don't know that's your rent yeah that's my rent because of the utilities that's why you're in a place that is beyond way too expensive for years no i know that's why i had explained to you in the beginning home dude i don't care if it's in an area you don't like no no that's why i explained to you the only reason why i got into this was because the woman was like hey i need that apartment for my kids and i boom i'm going like i need to find a place to live this is the only place that's not three times the income when i wasn't making dirt and that that's your support system what do you mean my support system family anything like i have family but not like could you have moved in temporarily with someone i was for a while my aunt and that was just like a very toxic like okay so two places you've lived have been toxic when they've been with other people who was with other who was the other person you said you had a roommate at once and they had a toxic thing unless was that the aunt Is that the same person we're talking about earlier?

40:57I never brought up a roommate. Did I? Yes. Didn't she? Oh, I had... No. Yes, you did. I had roommates in San Antonio. You said there was a roommate with a toxic relationship. No. Oh, no. That was the lady that I was living in her apartment under her name, the unofficial sublees. Right, right, right, right. She was in the toxic relationship. She was like, hey, I need to move my kid. So, so far, the two people you've lived with both have been toxic. Yeah. Just statistically, that concerns me. No, no, no. Not like... No, like, she was in a toxic relationship. She needed to move back into the apartment with her kids and herself.

41:28Does this include internet? Yes. Okay. No, one, and they lied. They were like, oh, it's included in, but they lied. It's in addition to the rent. Like there's just, and then all those hidden fees. That's why I brought the utility bill. Gosh. Because if you really look, I used like. 43 minutes in and still going through the debt. Save me. Yeah. Loan Depot. That's my mortgage. Which I think you should live in because it's only$1 ,250 a month, which is actually affordable for you. and then interest rate is 2.375 it's insanely incredible and we have a balance uh 140 yeah man i don't know this thing's like a pipeline you can you have your rent locked in if you lived here wait repeat that please i'm sorry you have your living expense locked in if you just lived here instead of this two thousand dollar a month chaos that you cannot afford this gives you a 750 wiggle room and even if you're bringing an extra five hundred thirty eight dollars you're still lost net 250 bucks yeah and i know it's simple from where you're sitting to be like oh like it's so easy to just up and move with your no everything's always easier said than done it's a 50 minute it's a 60 minute conversation every single thing is going to be more nuanced than it actually is but even still in just basic realities talking about math you just can't afford your current living situation but go ahead um well the only reason why well one born and raised in austin like i love austin like i don't want to leave cool congratulations you like it and you said want because want is a want is a want okay and i don't want to but to um my child's daycare that's really cheap right now and it's not like i don't get any like government assistance or anything it's only cheap because it's on a sliding scale because i was a student and so if i does not exist anywhere else in the united states no but not as cheap as i'm paying now 150 dude if i give them my new updated like won't you have to eventually yeah so i'm like like waiting until i get my handcuff tax and be like okay like here's my because then it'll like be like 1200 so when that happens that immediately negates that reasoning yeah i don't know and no and my job first of all and my job security no and my job security like i'm not leaving this law firm okay because the pay is better in austin especially in westlake than it is in san antonio especially because like I just graduated and all I had was the internship but this is what you want to do?

43:46yes yeah well obviously I want to go to law school so yeah I'm doing like I'm in the field I want to be in okay man how are you going to pay for law school? I don't know I don't have any student debt like all throughout my like college life well all throughout my college life I found programs that like help single moms in regards to like paying for school so like I don't have any student debt yet I'm still going to make you a budget and you're going to go through the the extensive budgeting program that we have that every guest gets for free so take that truly it's saved no no yeah thousands of people's like lives which is well and i kind of wrote out all my bills and like what if i and then the minimum payments that i have and then okay well we'll go through it yeah but that'll give you when you go through the program it'll give you a true detailed thing and a spreadsheet and all the good stuff and a debt payoff plan okay so yes the mortgage is good you said you have a personal loan somewhere yeah that was the it's in the a plus account it's in the federal credit statement it should say when i read through it said maybe they didn't print off the other page it says page one of this is one there's three oh it's at the end of your checking account okay well we haven't gotten through there yet oh okay yeah 522 yeah credit score yeah not good spotify we can listen to ads while we're trying to get a debt disney plus there's nothing good there anyway uh polio rico poke house dairy queen shocker this is definitely not just once a week wait no pause lots of pauses 45 minutes in go ahead one of my friends sends me money and i can't say like i'll just say friend one of my friends sends me money and like you're not seeing that deposit go in like that's why they're sending you money go eat you and your son go get something to eat and they're like here's 20 bucks why because i i'm open about my finances cool i'd throw it towards your debt and then that's when i explained earlier so that maybe your kid has college paid for in the future that'd be cool or maybe so your kid has a mom that's able to retire i said yes caleb i feel like that's a deflection i feel like you like you don't agree you're just like no move on is what you're saying yeah let's move on

46:06okay if you want to be on financial audit yeah find the description below oh trust me just be open to changing things and you won't be um i am open to changing things yeah but if someone's like hey here's 20 to eat i'm like okay yeah like thanks okay now here's a 13 yeah almost 13 and a half percent interest rate of death on a personal loan what's the balance on this thing 1275 no no no 12 000 it wouldn't be 12 000 yeah it's 12 000 what is this for what is this for what is this possibly for what is this for so remember when i told you i went into a plus for you asked about the elon card and she gave me the the credit card for the zero like the transfer and like yeah it excuse me it took a while to come in and i was like honestly like panicked and paranoid so i went in and i just got a little consolidation what are you i was trying to fight that obviously did i accomplish no but i do it well no you're too relaxed about the direness of the situation well because i've been living with this like i know what my situation is that's obviously why i signed up you've done nothing in your spending habits and anything knowing your situation but you've done nothing well not nothing this is like the first month that i have the income that i have so that's why i wrote down like my little plan yeah so this is the first month you have the income that you have we're probably not spending it all on stupid spending we're probably putting it all towards debt that's what we're probably doing that's probably what we do your facial expression was funny hmm i said your facial expression was funny that's how i was laughing three hundred twenty two dollars monthly basis or yeah monthly basis and seven cents some of our monthly payments are insanity insanity insanity you uh what's the daycare situation what time can he be dropped off he yeah he um 7 30 to 5 30 has to be picked up at 5 30 has to or i do late fees well how much is the late fee i don't know wait how late can he stay with fees i don't even i haven't asked but at 5 like 29 they're like where are you so i think yeah i don't think there's a evening care program 1027 dollars and our chase checking oh my gosh it went down from what was that 4 ,690 paid rent canva shipped.com boom gars and tortilla yeah this is not a once a week thing across all these accounts dude you're going out you're spending some money we're doing something stupid and i'm on a on a daily basis and then yeah here's acorns we took it out down to three dollars took out 1 ,337 dollars what kind of acorns account was this in By the way What kind of account was it Was it at Acorns later Was it at Acorns traditional It was like the one that they take out And they invest your change That could be later or it could be traditional All I'm saying is there's penalties Okay

49:20I didn't know there was two different types of accounts There's a lot you can do with Acorns And Robinhood I don't know It was$295 And it doesn't matter but we're in Amazon And Microsoft only so two single stocks is what our retirement fund is at like twenty dollars okay okay

49:43going out to eat 268 bucks 3.6 percent of spending because your spending is insane by the way because you bring in a whopping three thousand eight hundred eighty dollars a month what i think So 3 ,800 was from the nine to five. Yeah. Are you not counting the other incomes? An additional 763. So 4 ,644. Okay, cool. 6 ,468 went out, which is$2 ,000 more. What account is this? This is across everything. Oh, okay. Okay. Only$2 ,000 more. Wow. That's all. I'm like 2 ,000. I was like, that just sounds like rent. Like what else would it be? Everything combined. Your housing is... Wait, can I look at it?

50:27I'm like confused. I'm reading it off. I need like a visual. I'm reading it off. Okay. Housing is 48%. Grocery, 7%. Going out to eat, close to 4%. Subscriptions, 1%. Random... That is not necessary for life in any way whatsoever. Miscellaneous, 7.5 % or$547. Yeah, we don't do that when there's$2 ,000 missing. Transportation, 9.6%. Phone, 2.6%. unknown shopping 8.2 % a big big old chunk there let's see where that is that's target that's that daycare and target is either it's shipped or i know the few times when i go to target like i need to get something for my son or like household necessities like dish so some other miscellaneous unknown shopping let me see what is it under thank you caleb tell me your gas how much in gas what does this say how much in gas you asked for it and then i needed something okay your phone how is why are you paying for cricket and mint no no no i canceled cricket i i switched over to mint yeah how's mint 121 dollars because they had that deal where you like if you it's like the three months extra for free for free so you paid three for like six months i paid for like six months or nine how much is so so you don't have to pay anything no no no not for a while okay i'm taking that out of your budget then for a second i'm trying to figure out your gas which was 104 oh i have to drive to waco to drop off baby to meet halfway with his dad isn't bad oh okay okay car insurance how much 119 okay 300 uh well actually you have to take care of a kid okay two-year-old i'm saying 500 hours for food 500 hours for groceries and toilet paper fun i'm gonna do a little more because kid kid requires kid things 200 how much is the uh daycare on a monthly basis right as of right now 150 yeah so i'm like hoping they don't ask me cancel all subscriptions they don't matter anything medical you have to take care of on a monthly basis prescriptions anything no co-pays nothing at all no nothing for the kiddo okay oh these minimum debts that's gonna to be okay with insanity rents with utilities included 2009 plus that 40 platform fee no literally your minimum monthly debt payments dude how much i don't want anyone to go through bankruptcy but i would never i would never fall for bankruptcy ever okay well it's not even an option okay three thousand six hundred one dollars and not a single well actually let me let me subtract from that three thousand six hundred one your mortgage let me subtract your mortgage oh yeah it's one twelve fifty okay so bad debt minimum payments bad debt two thousand three hundred fifty one dollars also still insane by the way fun fact it is that's why i'm here that's why you i pushed back on everything okay and then your total income

53:564 644 why did i why did i get it different when i calculated it what'd you get i got like 5 200 a month well we just had what came in so but did you add everything like child support child support well actually child support that's like plus 320 well let me see some extra deposits okay so let's do 3 000 other we have a little more insights 880 plus 320 child plus 583 cash flow plus 320 a month okay so we'll do 5103 dollars okay but are you you added sorry are you subtracting the what you're taking away from the cash flow and the debt okay well the no in regards to the okay yes cash flow is after the that property insurance or property taxes uh any utilities you have to take care of what you don't uh plus three percent for future vacancies three percent for future repairs gives you 583 dollars by the way i really well let me write down this first so 5103 dollars are you setting money aside for taxes on the no because you don't have any money anywhere so last year i broke even yeah with all the repairs what was your purchase price of the house 155 cash on cash return i like to see a minimum 12 cash on cash return you're getting like four percent so this isn't even like a great performing property now maybe it's in an area that's gonna boom but i mean it's in a gated community oh yes the very dangerous community it's a gated community in i don't want to say that on the internet this isn't like south africa dude well no but like there's always like shootings and high crime there so yeah it is not that great anything else i'm missing from your budget

56:02pets no this is insanity needed to survive minimum because of where have you gotten yourself which is why bankruptcy is like i don't i really don't want to suggest it because it's like one of the worst mental and just it's it's expensive to go through two things but required to survive six thousand six hundred twenty three dollars at the minimum what nothing go on i'm listening i was just unless i'm i am bad at math i'll say that well you don't know how to calculate cash flow so that's a part of it this is i mean what are you telling me well no i'm just thinking about I have your rent, your mortgage, the platform fee, the car gas, car insurance, all your minimum monthly debt payments except for the mortgage added up separately.

56:51$500 for groceries,$200 for your TP fund, and$150 for the daycare. Have all that. Add that together,$6 ,623.26 on a monthly basis. What do you have? What's your minimum needs to you that you calculated before? Well, when I calculated with all this income that I'm making and all my bills that I have to pay i was left with like 800 a month i'm so serious that's i mean i was gonna use that to like tackle the debt go through our program because you do not know how to budget you don't know how to budget for a single second in your life which is totally okay the vast majority of americans don't so go through the program dude you gotta go through it this is like basic this is basic it's gonna vary from here it's probably a little more expensive this is like starter level and you're beyond far off okay thanks caleb you're welcome because i don't want you to die in poverty So you're welcome.

57:42I want your kid to die in poverty. So you're welcome.

57:48I don't want it to be one of those episodes where it's like, I don't know what to do because you just got to, you don't make enough money. Like, you're working like a thousand extra. No, you're not. I mean, you're working on Sundays. I work Monday through Friday and Sunday. It's the kid. It's the, that stinky, sticky little thing. I want it to go somewhere so you can work in the evenings because you need to bring more money. That's the only option. If bankruptcy is not on the option for you. No. Then it's literally needing to work more. But where does the kid go?

58:21So that's for you to figure out because like. Well, and it might be. Well, and if I have I would have to pay anyone to watch him. So. Yeah. I don't have like support like that where my family is like, oh, I'll watch him. Like, no, no, I know. And that's what you said earlier. So that's why I'm thinking, okay, maybe a babysitter is an option. Babysitter is like 20 an hour. I'm thinking, I'm thinking, I'm thinking, I'm thinking. You're right. And I can't do housing because I haven't asked it. Which you should be living in. Yeah, I know. Ew. Oh, I can't. And the other thing I would want to potentially consider, but I can't in your situation because you've just shown that you're not responsible with it.

59:04It is an overall consolidation of a lot of the problems. credit cards trust me i did one second because even if you did or even if you qualify which you probably can't i don't exactly but even if you did you just build your balances up immediately anyway already no no but trust me like what are we doing i'm not like no like i'm i'm not that far off where i'm like oh like i don't know what's going on and whatnot i don't think my spending's horrendous what are you talking about i don't know okay but you're seeing this but dude half of them were like someone's like hey like go eat like it's okay like go eat with your son i know you said 20 a week no 21 during half of the year like they would send me money to go eat but that's not a necessity but i'm but no but and this is survive so this is where our difference is my difference let me explain no let me explain mentally monday through friday getting up at 5 45 five working a nine to five having to come home pick up your kid cook clean dude i get tired at least one day like it's not like i don't think that's so bad like oh you should never because when will i ever catch a break that's where you lose me because you're right again this comes back to the i wish i wish i wish this isn't a unfortunately we're not just spawned into a video game where we can do whatever we want and it's just like a dream world it's really not i wish you could do that.

1:00:28I wish all this stuff. I wish this that didn't exist. The reality is here it is. And the reality is that you've chosen to go do those things instead of putting the money towards your extra debt. The reality is when you're given extra money, when you have a gap of$2 ,000 to make up$1 ,000 to make up, you're choosing instead of putting that extra money towards that gap to going out to eat and putting that on a car that you have to pay off where the vast majority that was put trust me it's not me saying i don't want you to it's that like literally for your survival you can't and this is screaming it this is seriously just basic math i mean tell me i just don't know where our numbers are so what's what's a bigger number six thousand six hundred twenty three or five thousand one hundred three probably the six thousand one yeah i added up your and if Tell me where I'm wrong here And this is where I was confused You're adding I added the 700 The full 700 is cash flow Are you subtracting Are you also Including that though when you're talking about the debt Yes You subtracted it from the debt on here You subtracted it from my income I included it in your income I put it in your income Wait wait wait

1:01:48Did Caleb just mess up? Potentially. Do we get that on camera? I mess up all the time. It's okay to mess up.