Debt Princess Begs Daddy To Save Her | Financial Audit

40:13like you can't your debt is getting worse your debt is getting worse you cannot afford it like where do we go you know where do we go when we just can't afford it like what how do we improve from there also you can get a massage for like 75 bucks why don't you go every other week 75 bucks is cheaper 150 bucks instead of 600 because it's not a massage i needed botox oh this is botox sorry i don't yeah i think i glossed over that it's you need botox i wanted it i wanted botox so that my face didn't change so drastically get an ugly face who cares um not actually uh but was that is that well first of all did you did the doctor tell you to do this medically diagnosed no but for me like okay then i don't give a do what a doctor says i like botox nails waxing hair like this upkeep it's important to me sure like it's not just well i have a tp fund i want it it's i i i need hold on let's not put botox in the same scale as hails and net nails and hair i will support you know things for self-confidence absolutely but again but this is coming down to you literally cannot afford this we can we can probably get you a haircut every once in a while absolutely we can afford that and in the tp fund in the end of the budget we'll have room for nails absolutely are you going to go super extravagant not necessarily but maintenance and just looking good sure 600 botox is not the same it's self-care to me your self-care how about your self-care being able to literally be able to have a healthy retirement again i don't think people like you understand this.

41:59I really don't. What happens when you get to retirement with only like$50 ,000? You're not going to be able to do anything and who knows what social security is going to look like. It won't matter the amount of Botox you had at that point. If you can't seriously afford to put a roof over your head, it won't matter if you are stressing and not able to sleep in your retirement years. If you are able to retire because you had a little less Botox and you're able to live a good self-esteem to retirement in dignity, I am okay with being the bad guy saying you're not allowed to get a couple of Botox injections.

42:32Okay? Seeing you live an actual good, decent life. See, I disagree. Like, I think. Oh, go on. There's so much. Let's have some logic. I have so much time. It's not like I'm retiring tomorrow. No, no. No, you little s***. That's not how this works. That's not how this works. You know what time is? Time is compound growth in the market. The only reason people are able to retire by having a million dollar nest egg is because they put in a little bit amount of money when they were younger. You're already finishing your best decade of growth for compound or best decade of best decade in your life for compound growth.

43:10You're entering your second best decade. This is giving you time and put in 50 bucks. Now it becomes, you know, a couple hundred bucks, put in 50 bucks when you're in 50. It's only going to become like fifty five dollars. It's completely different. Time is what you need. Giving up time is giving up your retirement. If you're not investing in your 20s and your 30s, you're done. You're going to have to play major catch up. Your catch up that you're going to have to do is investing like 60 % of your income. It's going to be something crazy that's going to be unsustainable. So that's completely wrong.

43:42That's only if I continue in this trajectory. Huh? But to me, like I still - So we're banking on the hope. Again, I can not invest in retirement because I'm going to be a billionaire someday. Yeah. No, that's the dumbest thing. Again. I mean, Austin, like you never know who you're going to meet here. You think you're going to meet Joe Rogan? All of a sudden you're going to look young forever? Well, I just think the upkeep of my appearance is important for my business. Dude, I'm not saying you become an ugly f***er. No one's saying that. And also talk to a doctor about that. If that is an actual thing that they are saying, you are doing this on your own.

44:24Yes. I'd support it more if this was a medical diagnosis that they're like, you know, because of this, I want you to do this from under medical supervision. I mean, you could. Like, you could say that, like, your masseters cause headaches. I would want a doctor to be guiding you through this instead of your own little GPT with money you don't have. It's not like it's a monthly expense either, though. like that the botox lasts me a while no i know but you just can't afford how do you i i'm uh part of this conversation is going to be this part of the conversation is really difficult for me because i seriously i don't think i could just get into your head this is the concept of like you literally could not afford this you did not have the money to pay for it like you could not afford it it's as simple as that again i would not care about the botox if you could afford it it's a different situation it's as simple as you could not afford it and you're banking it on getting botox and birthing elon musk 40th child in austin to make it like

45:31okay you're going to dutch bros as well you know it's that important eating of the draw one-way coffee north coast music north coast music north coast music north coast music north North Coast music, North Coast music. What the f*** is going on? I went to a music festival with my best friend. You don't know. You don't know the life of saying no. You don't know the life of delayed gratification. You do not know the life of financial sacrifice. You're willing to take a step back from your better paid job to make it more on your own, but you're not willing to cut back your lifestyle. And that is going to destroy you.

46:18And you have no idea this bond that you are building right now. To be fair, this was my first ever three-day music festival. To be fair, I don't give a... I've never been to a festival before. I don't understand. How does that... Literally, how does that... How does that possibly combat anything I just said? It doesn't. Guess what? I'm going to a music festival tomorrow, and if I didn't have money to do it, I wouldn't care if it was my first or fifth. It doesn't matter. I'm just trying to explain like my thought process behind why I did go. And it was incorrect. It was my best friend. Like she and I.

46:51She going to die tomorrow. She have like stage a million cancer patient. No. Okay. Then we can go next year. Well, it sounds good when you say it like that. But like she. Yeah. When you use two seconds to think. She really wanted to do this festival. And like friendship is really important to me. Cool. Yeah. Will she be your friends three days after it's done? Yes. Okay, then it doesn't matter. Take her for coffee. No shit. It's also about the fact that she... Well, she doesn't live here. She lives in Florida. So we planned to go to this music festival. It's also about the fact that you literally cannot afford it.

47:25That is all this comes down to. I am not against this as a concept. Again, I am going to Austin... Austin... What is it? Austin City Limits Live. like i'm doing that these next few days with my friends i'm excited it'll be fun chaparone beautiful especially in the green costume um and she's my lesbian wife she just doesn't know it the thing is i can i'm doing it because i can afford it if i couldn't afford it i i would be doing a little bit of sacrifice so i guess i was hoping like up until that point that i would be able to afford it like my my hope was that i would get like new clients and i would have more that's interesting so maybe our little maybe maybe your little concept of i'll be able to afford it in the future didn't work so why is it going to work in the why is it going to work now you so you're still living that mindset that's how you've been able to back up all your spending so far because you're going to make more in the future but you literally have an example right here where you thought you were going to make more than you did you didn't now all of a sudden we're putting out a credit card it's about more than we make you've proved it what are you doing the definition of insanity same thing over and over again is that what your life is is that what you're trying to do it's not what i'm trying to do okay well it's what you're doing it's what it looks like but i are have you had dumbbells hit your head not recently okay what do you mean that's what it looks like but it's not what it is how does that stand up to me like the experiences that you have in life are more important than worrying about like the day-to-day okay minutiae and so i like no you know what and that is fine so we're done then right so we're done that that's okay that's okay if that is how you want to live your life that is okay i support whoa hold on hold on i support anyone deciding to live their life however they want to as long as it doesn't directly hurt someone else if that is how you want to live your life that's perfectly fine.

49:24Here, the intent behind here is to learn how to manage our finances so that we can have a chance for decent retirement, building a business, whatever it is you want to do. That's what we do here. If to you, living life is more important than that in terms of getting the instant gratification of fun, fine. That's okay. But that means this is done. That means this conversation is done. That means there is no point of this because you are not ready for this. That means you don't care about this enough you care about the other thing more i do care i i guess i'm not more

49:59you care more about the experience of going out and around i i want both you can't have it that's not how life works sometimes you need a little bit of sacrifice especially while you take a pay cut in half in order to have your own business sometimes you have to have a little bit of a sacrifice just a little bit even a little bit of a sacrifice so that you have a better chance of success in the future and that's okay it's okay to have delayed gratification huh i can do that i can then why haven't you

50:36it's the question they can never answer i haven't had any you're going to miami oh you already did hold on you went on a 3 000 hour trip just a couple months ago i did it was that's basically your monthly it was my best friend's birthday and yeah we never have any of those she had a hard year i wanted to what was her hard year she went through a really hard breakup she moved from New York to Houston and she was a tragedy she just had a lot of things happen in her personal life and she deserved a fun birthday okay could she have come to you come to you also four thousand dollars is not required to get to Florida it's like that's the crazy part if it was like I was seeing like a 500 hour thing would I be happy no but it is very different than four thousand dollars she's what did you get her like 50 strippers to make her a year better no she's a bougie friend we went out to a lot of like high expensive i don't think she's bougie because you were spending all the money i guess like i am too when it comes to my friends but uh-huh like i paid for the hotel oh dinner oh and we went to high-end restaurants oh we're like four or five so again that is what you choose over having any financial security ever having a successful business over having any chance of retirement that is what you choose is a bougie lifestyle that you can't afford i think you're entitled to it i mean you're not to be very clear you're not no if you can't afford it you can't necessarily get it unless you're putting it on debt and that's what you're doing yeah because you're born doesn't mean oh here's a one-way ticket to go and get a michelin michelin star meal every night i don't i don't think i'm entitled to it i i genuinely just like treating my friends that's what i that's what i thought of it's a loving spirit like i didn't try to think about the money aspect of it i was just trying to think about how i could make it memorable yeah well i love the heart of it i love the heart of it i like to the this is you know get things got the office you know cookies today i like to you know whatever whatever the random thing is you know sometimes i just uh pay for dinner we went to dinner a few weeks ago and paid for dinner you know i like to do it as well it's fun it's fun you know when you're in a blessed position that is like truly just blessings and just that you just kind of stumble into you're like just lucky it's like yeah you want to just when you want to treat the people around you that you love yeah that's great again this comes down to the thing i've mentioned multiple times in this conversation almost more than any you just couldn't afford it and that's all that's that's how it works in the end there is a mathematical equation here of one minus one equals zero and you you know yeah i know so like you just couldn't afford it

53:48i i'm hearing it yeah but will your actions reflect you hearing it that's what i'm worried about oh and be glamorous 276 what is this um where was the botox this time i think that was hair haircut and got our in-flight wi-fi It would be a shame if over the Gulf of Mexico we couldn't scroll through TikTok. I was trying to work on the plane. Your work is work from anywhere. You could have waited. Oh, FNBO again. Oh, is this a checking account? So is this all your debt? Perhaps, yeah. What is it? Car cards? Southwest. Yeah. Volkswagen. FNBO. I owe my dad$4 ,000. Why? Why? Listen, if we owe a family member money, we're really not doing it because that's personal.

54:39That's when we do not get to have any paid for fund. You are grinding to pay off a family member. Why do you owe your dad? Why do you owe your dad$4 ,000? So when I quit my jobs in February, I was also living downtown in a place that I could no longer afford. So I needed to move. okay um and i had also just gone through that breakups and the breakup breakups are sad but that doesn't mean we just destroy our lives no no i 100 i agree i just like to be totally transparent like he was helping me financially as well okay okay so he no longer was doing that that that's valid and then yeah i needed to like move out of my little less valid because you should have had an emergency fund and we don't quit a job before we have an emergency fund and your emergency fund would have been able to cover a breakup but i do get it yes so i i called my dad and i only asked for enough to like cover getting out of my lease and getting into a new cheaper lease but he he gave me a lot more than i asked for yeah but you owe it i do so it's not gave he you've lended he lended you have like a minimum monthly payment set up hopefully it's zero percent interest no he has not asked me for repayment yet okay what is the conversation around this been then the future of this i i've been waiting for him to bring it up and he hasn't so what is that what a loving daughter would do no i mean my plan was to try and see him at christmas i haven't seen him wait when was this when did you borrow this back in february i wanted well i wanted to see him in person and like talk to him about it but i've where is he uh he's in california okay make a phone call do it okay sometimes we call people in the post show maybe we'll do that

56:44okay have you borrowed money from your dad in the past or is this the first time uh this was the first time okay you borrowed money from friends or family in the past? No, normally friends borrow from me. It's okay to fall back on loved ones. It is okay to have a good support system when going through a hard time. But again, you did quit this job without an emergency fund or any plan. I understand the job wasn't great and we probably didn't work with someone great, but then we're also getting a replacement job at the time or working a few jobs to make ourselves survive. You wanted to run the dream of you owning your own business and you put that desire above being able to pay your bills to be a responsible adult yeah and again the breakup that's something we can't control but again that's where an emergency fund comes in really does that's why i always say it's so much risk to have so much dependency on someone that you're not married to because you never know what's gonna happen deaths happen breakups happen yeah okay so in this checking account it's almost four thousand bucks for this show that's incredible actually i would just say that's incredible that's great i think that's my emergency fund in a checking account well i have an account where we're spending money no okay that's not an emergency fund you put it separate you only touch it in the case of a emergency oh okay yes i'm gonna just you know what every guest on here gets a certification free thanks to course careers they're great they help people get jobs but obviously you already have the job but you should get the accounting certification so you can learn how to do accounting of your own business okay so just take it okay i can do that life hack wellness Oh,$95.

58:39Oh, I read the balance. Okay. What is it? Is it your gym? What is it called? Life hack wellness. Life hack wellness. Oh, come on. You're spending$100 on it. You don't know what it is. You don't have money. Also, you started with$1 ,000. So that's not an emergency fund. That wasn't stagnant. Maybe it's like an IV. Oh, hold on. Hold on. That's an important thing to note. You started with$1 ,000. At the time of the statement, it ended at four. But that doesn't mean it didn't go down to one. I'd consider it that savings account that you were saying if it was starting and ending about the same but I think we just got lucky at the time that the statement was pulled oh maybe I just got paid okay I have two checking accounts and then one savings account so they're I'm not sure which one you're looking at but I use I told you FNBO okay okay and then you know we stopped in probably get a little drink from Publix Netflix subscription Apple in-app something some bull raw sport supplement 151 that's like my vitamins and supplements and stuff which is great but the thing is listen maybe this business is too expensive for you to do maybe you're not charging enough maybe you don't have enough clients maybe your business isn't good enough because again it's not like some of these are invalid right they're just not paying the bills i get that i i use those specific supplements because i'm hoping to get like a sponsorship with them so i've i've been like i've been using those supplements for a while and it's an investment into my health that part i'm okay with no you don't use them with the hope of getting a sponsorship i'd probably connect to an agency have them because they have representatives that will go get you brands that you feel comfortable with you're not using a brand hoping to get a well you you can't get a brand sponsorship like in fitness if you aren't using their products that's like well no you usually use it after you get the brand partnership yeah but that's not authentic that's like not genuine you wouldn't of course you would sign with a company no no no no you absolutely test we test everything okay as well but you are literally saying that you're only having this very expensive thing that you can't afford with the hope of getting the partnership i'm not saying don't get a partnership unless you test it or without testing i'm not saying that but you're using this so that you can get a partnership that's not usually the path to a guaranteed partnership you need someone on your behalf going out there and hounding okay that's that's fair i get that i was just saying like i'm using it because i'm trying to open that door of opportunity guys for just a few weeks only our brand new debt class is 35 off and the first 5 000 people that sign up are going to get access to a private live stream with me where I break down how I got out of every single cent of bad debt I was in.

1:01:29I'll answer all your questions there as well. In this debt program, we don't just focus on paying down debt. I'll show you how to actually reduce the principal you owe. You'll also get seven powerful strategies to lower your debt plus 10 tools to fast track your journey. This includes a custom debt calculator that shows you exactly how long it'll take to become debt free. But it's not like other debt programs where we're like, oh, don't get debt. That's all bad. I'll also teach you how to use debt to your advantage because believe it or not the wealthy use it as a tool and you can as well i'll teach you the right frameworks for taking on debt you'll get guides on refinancing negotiating with lenders and even raising money to tackle your debt head on check it out guys limited time only link in the description below how long have you been using it uh raw sports supplements probably like over a year now and i know people over a year i know people who are asked them so i'm well that's good again i'm not against that part it's your reasoning behind it that was bad especially if you're using over a year lifting around we know you pay a bunch for a car so you must have been drunk as no lift oh apple cash sent out to uh i don't know but 350 bucks apple cash that out oh my gosh you don't know where your money goes you don't know anything about your finances please go through the budgeting program peacock subscription there's nothing on there anyway unless it's one of those sports games that they only put on there for some horrific evil reason paypal 150 out for that venmo 175 amc at least go to a real movie theater you live in the world of alamo draft house and a lot of other really good places the flicks violet crown that sure flicks i pick movie house and eatery yet you go to amc also you shouldn't be spending money so don't go to any of them you also went to amc again the farmer's dog farmer's dog i had them the thing is and what i was advised by someone who works with dogs very closely is that since there's it's only mush it's good for nutrition but apparently they might not be getting all the nutrition they need by the way uh but either way not as good for the teeth so a lot of the teeth cleaning for dogs comes through actually eating the harder food so i actually ended up switching away also you can't afford it so there is that uh violet crown so you did do that and then amc we went back and then the nail spa oh there's the nails okay we can do this in cheaper ways you're you just you're just again you live the bougie lifestyle that's what you specifically said apple in apple i don't know gems who the f knows 18.66 but i mean i$85 you don't know where that went you never know where your money goes spotify you can listen to ads if you're spending more than you bring in cash app$160 you don't know where it goes i'm not gonna waste the time asking more lift ride uh google workspace yeah that's fine venmo payment a thousand dollars to who oh god i i'd have to look at my history you don't know where you sent a thousand dollars i want to say i sent it to my best friend who was in trouble but i i'm not 100 certain trouble what trouble you're in trouble i get it's the blind leading the blind then i don't know what trouble she i have a gun to her head needed a thousand dollars no she needed money for her car earn her rent oh you're not in the position to loan you're taking out loans i'm sorry again the heart i'm not against it i'm not against it one do you even know their financial situation are they spending money on fun yeah okay then you're just enabling their bad behavior they're not budgeting they're relying on others to pay for rent while they're also spending their money on okay so one this is bad move you're not actually supporting them in the end two you don't have any money you're borrowing money from people you're not lending money to people you think they're gonna pay that back yeah yeah with what money they can't afford rent she will i i don't i don't know her means but she'll pay me back oh you don't know her means but you lend her money yeah great yeah we don't do that i'll end money but i need to know their means first i'll give money but i need to know their means first because i don't want to support bad behavior you enable them to never make corrections in their life to always just rely on others instead of being self-efficient that's fair more lift donations to aspca again is i'm not against the heart you just literally have no money more farmers dogs king scoopers lift ride dutch bros and other in-app apple thing You went inside, got a drink from QT.

1:06:13Apple bill, Venmo payment,$20.42. Doubt you know where that went because you didn't know where$1 ,000 went. Lyft, more Lyft. Ulta, got to look fresh and pretty. You know, it's all about that social media. Airport, Dunkin' Donut. Apple cashed that out. Went inside, got some BS. Venmo,$300. I'm not even going to ask. Farmer's dog, Apple bill, Lyft. Kidder Clibs? clips oh kidder clips is that grooming i honestly oh my you don't know one thing you do not know one single thing about your own purchases this is crazy it might be like also why do you lift everywhere hair stuff where do you lift everywhere because i thought this is going to be one or two times but it's lift lift lift lift four more times in this i might have been traveling so like i was lifting to and from the airports and whatnot you probably can't afford to travel No, you can't afford the travel.

1:07:10That's the summary of this episode. You just can't afford. Bacon and Jam, Alice Cafe, Artisan's Market, Two Lift Rides, Apple, in-app, HBO Max. Finally, a good streaming service.

1:07:26Okay. The other checking account is just money back and forth. Yeah. I think this is what you're saying is your emergency fund because there's$4 ,000 here. It's like in and out, yeah. Oh, but that's not our emergency phone because it started, again, with like$2 ,000. So it's not consistent. Then$200 in this one is just money back and forth. Oh, good. The retirement accounts.

1:07:51Violent crown? What is that, the violet crown? $240? Oh, that's waxing. Oh, that you were saying it was a movie theater, but it's getting your a** bare? Great. Well, it's like my face, my armpits. It's everything. it's not 240 for just one waxing service yeah there's a lot I don't know holes are expensive thousand dollars in this fidelity account great and 24 ,000 in this one oh beginning 34 ,000 for sake where was it at its peak where was it at its peak I don't want to tell you where was it at its peak 45 ,000 you're gonna you're just ruining your life you're ruining your life we're borrowing to spend more on credit cards buying from our parents giving other people money spending money on bull can't justify our business expenses at all because we don't make enough to justify it and if you write it all off you're writing off more than you even make so it doesn't even matter while also training our retirement by half.

1:09:00I don't know. I don't know. Let's see where you're at, dude. What's your rent again? $27? $17.75. $17.75? Okay, utilities altogether, including internet? Probably like$200. Okay. Phone bill? $85. Do you owe on your phone?

1:09:24I don't think so. Switch to helium. 15 bucks a month same towers as t-mobile please okay will you do that helium yes helium okay 15 hours a month i can put that in your budget thank you gas room from drive drive like 35 bucks a month i fill it up like once i don't drive very much oh it's because you lift everywhere okay i'm not putting that in your budget okay then you definitely don't need a car we're probably gonna sell it like actually legitimately we might sell it lift if you need to in the extreme cases. Right? Are we willing to do that? You do not need your car. I know what part of town you live in.

1:10:04Totally fine. If you need to catch a bus somewhere, it's totally okay. Even get your, you're relatively close to the train as well, which will take you north. If you need to go north, if you need to go to the domain or Cedar Park for some reason. I only really drive to like gyms. Exactly. So we're good. Ride a bike. Right? We can sell our car? Please? Would I not? What did you say about my car, though? If I sell it, I still go on the wall. You're about 2 ,500 under, but which one's a bigger number, 13 ,000 or 2 ,500? Yeah, I'd rather owe 2 ,500, and we can make that up. We can figure that out.

1:10:43To sell my car? That's like independence, though. I don't have a bike. We can get a bike. if it saves us$11 ,000, you're right. It is independence, and let's get you a car again. But if you actually can manage life without a car, this gets us to true independence much quicker. Right now, you're dependent on debt and pulling money from retirement. You don't have independence. How long would I have to go without a car? You're not down for this. You're not down for this. That's tough. We're talking major sacrifice here, but for major results. Major results. Just sell it back to CarMath? I'm going to give you$400 for groceries because I know you probably need a little special extra with your crap.

1:11:29But meal prep, meal prep, meal prep. $400, totally fine. TP Fund, also going to give$150 because just for extra for some supplements. If it's anything else you need to survive, get in the nails, get in the hair, spread it out. But$150 a month on average. Car insurance, which hopefully, again, we can cancel. But car insurance. I think it's$150. any co-pays that you have to do on a monthly basis how much for your gyms i know there's three i have three do we need three no i could probably go down to two how much for the two then 100 100 both together yeah like total okay let's do that let's do that subscriptions no but you have a pet right just one dog uh he doesn't live with me right now he's in another state but I do pay for his food and stuff.

1:12:19Does he have pet insurance? Yeah. Do you pay for that? Yes. How much? I want to say it's like 50 bucks a month and then his farmer's dog stuff. I think we go back to Kibble too. Really good high quality though for full nutrient and teeth. Teeth health. I'm going to say 100 bucks for food. Okay. You're going to get pretty good stuff. Okay. I'll show you. We have a dog trainer influencer, like one of the biggest, who subleases the space here. And the really good food that I also feed my dogs is in there. I'll show you. Okay. It's like what to do. Your debt payments. Again, get rid of this car all of a sudden.

1:12:59Oh, we're rolling, dude. Just not in a car. Rolling on a bike. We're on a bus. Nothing wrong with a bus. And it has a negative. I think it's like a fear thing. because I've never done it. You know what I mean? Okay. I mean, you're a big boy. I'm a girl. Even better. A fitness one. Bodybuilder. You can punch someone. I just feel like sometimes people on the bus are like. Exactly. That's the stigma in this country. Austin's one of the safest cities in the country. You'll be okay. The homeless population is crazy. Compared to a lot of other major cities, it's actually not, though. Really? It's a thing.

1:13:38Maybe it's just like downtown area. Yeah, downtown. especially near the Ark. Yeah. But also just because someone's homeless doesn't mean they're going to knife you. No, I've just had bad experiences. They'll throw stuff at me. Sure. We've all had the downtown experiences. Yes. I get it. Yes, yes, yes. Okay, so$4.64.16. Also, bike. $4.64.16 is your debt payment. But again, are we going to get rid of the car? I need to know. I could get rid of it. I need to know if you're going to get rid of it I'll get rid of it there we go beautiful our debt payments you know what it goes down from$464 to$80 and I'm gonna for bus we're gonna get a bike it's gonna be a one time investment we don't have to put that in a reoccurring budget but let's put for public transportation I think$50 should be fine okay how much is a bus ride or a train ride specifically train One of my friends takes it every day.

1:14:41I can ask him, bus? I don't know. You can get monthly passes. I do know that. But actually, I'm going to turn this into$100 for occasional lifts for when you need that situation. Again, we're going to get you a car quick. But this gets you out of your debt situation and risk. Plus, it's over 10 % interest. So let's add all this up, and I think we can get you to a good situation. You need to downgrade. When's your lease up? June 2025.

1:15:11it might be worth trying to break it. You need to spend$1 ,000 on rent. Max. Getting yourself a studio. Yep. We've priced it out. Is that possible in Austin? It's a million times possible. We've priced it out. You'll be totally fine. $2 ,970. You have an extra$500 even with that crazy rent. $530.

1:15:37But even with$530, okay. first month you can pay off fnbo boom you've eliminated a minimum of the payment then southwest you know it's going to be paid off in under six months a little well let's just be conservative and say six seven months you're debt free seven months what is seven months nothing seven months is nothing come on world seven months is nothing okay okay okay right once is all right boom your debt free oh well dad i do owe dad uh what do we want i think if we have a conversation with dad see if we can get a fully funded emergency fund and then pay him back okay we just need to see what he's okay with okay so we need 2 890 10 6 your emergency fund needs to be $17 ,340 Without your Emergency fund?

1:16:30Without your debt That's six months of your living expenses because your rent is so high It's not even including any business But either way At that point That's what's going to take a long time to pay off man I mean that's going to not pay off That's going to take like 30 months That's going to take two and a half years But you could be totally debt-free except for dad and have a fully funded emergency fund in right around three years but here's what we're gonna need to do i'm gonna need to get that emergency fund a little quicker pay off the debt all that stuff that's reasonable seven months that's reasonable i need you to get emergency fund a year after that and how do we do that i'm gonna need without your expenses going up too dramatically you're either getting a second job something close to you that you can get too easily coffee shop something doesn't matter we know you love going to them uh cutting down your business expenses well i mean this is the budget i gave you so it has to be that um yeah second job or increasing your business revenue because i need you to get the emergency fund in one year after seven months of paying off the debt you can make your debt pay off quicker if you of course go get that second job or bring in more clients now and obviously the easier one is getting a second job so i think that's what we're doing immediately if you bring on more clients after that i'm okay with getting rid of the second job but you need to bring because we're setting money aside for taxes again in in my budget we're setting money aside for taxes that's why you have that$3 ,500 how much are you setting aside for taxes from now or I did the math wrong you have 3 ,150 after setting aside 30 for taxes but I don't think you need to set aside 30 let's call it 20 so let's say that's just about accurate because you're not going to be in the 30 range anyway okay so I need you to go bring in a minimum extra$500 so we can speed this up quicker extra 500 hours a month after taxes okay yeah if we do that if we do that i think besides dad besides dad and this is just you know rounding but so we well because i guess i had a yeah you can do that in a year and a half dude you can be out of this in a year and a half and then dad after that okay which is great i guess i'm wondering because my monthly income is like it goes through fluctuations of course how do i like plan for the future after that like obviously i do have to get rid of debt i do have to absolutely and sometimes you know when it's a situation like that sometimes we have the emergency fund but then we also have another little savings account that helps offset the lower months but then we refill it in the higher months so that you're living on a more stagnant basis if we're assuming our average is about 3 ,500.

1:19:09There's a lot of other strategies we go over in the budgeting program for you to take as well there. But I mean, that's a good, just simple method to do it as well. So yeah, I think you can get out of this year and a half, just go make a little bit more money, which isn't crazy to bring an extra$500 a month after taxes with the time I know you have. Okay. Okay. Yeah. And then you pay off your dad. That shouldn't take only more than just like four months after that. and then guess what we save up ten thousand dollars i think in two years you're getting a cash car two years from now if you're doing this correctly go make more than that you can speed it up even quicker you're not in a bad position if you sell your car well we do have to get up that extra two thousand five hundred hours that year mix so i think we're only extending this a couple months because of that though so it's actually not that crazy let's be conservative and say two and a half years so you have a paid for car and no you have a paid for cash car and no debt no debt and a fully funded emergency fund.

1:20:03No risk over your head, meaning you can take more risks in your business. What's the budget for the car? You can get a$10 ,000 car in cash. Okay. In that time span, if you go bring an extra$5 ,000,$750, on monthly basis. Okay. All said easier than done because we're doing this in an hour and a half. But again, that is just a brief way of doing it. it's a more simplified version but those are the general steps you need to take okay okay and we'll be connected along the way and you'll come on for a follow-up and we'll see how you're doing and we'll you know i'll be like okay this is what we need to tweak but go through all the education as well okay but you guys can take advantage link in the description below i know the uh debt one the new debt one on how to utilize that and pay off debt is on sale right now Spending a budget, 0 out of 10, you overspent.

1:20:57Debt, no collections. Not the worst debt. Barring from debt, we don't like that. So that is going to bring it down. But 2 out of 10. Emergency fund, there's technically money in that other account, but it's very fluctuating. So I can't count an emergency fund as high as I'd like. I'm going to give it a 2 out of 10 there. Retirement, we're draining from retirement. Luckily, you still do have some retirement. But now we're draining. We're getting lower and lower. 3 out of 10. Real estate, 0 out of 10. I think you could fix that within a decade if you wanted to easily. your hammer financial score is 1.5 out of 10.

1:21:28Make sure to join the post show. Maybe we will call the, who are we going to call your dad about the debt? Maybe we'll call the dad, but we'll definitely talk about more drama and bring in the producers. So join that and check out the new debt class, which is at a large discount for the first month. Link in the description below. See y 'all in the post show. Today on the financial audit post show. Are you going to ACL? I was thinking about it. No, you're not going. You're not going to the music festival. You can't go to another music You're not going I don't have tickets You can buy tickets You're not going to go right?

1:22:00You're not going to go right? No You wouldn't leave here and not go right? Okay Right? What if my friend has an extra ticket? No Oh for free Maybe But you're not going to spend money on drinks and food in there right? No I can't Right? I won't drink or eat Good good because you don't have money right? Right To watch the financial audit post show Click the join button below

1:22:24Thank you.