Financial Infidelity EXPOSED Right Before Marriage | Financial Audit

26:00It's because it's all too damn complicated right now. You use any of the budgeting apps out there, it's crazy. It's hard to know what's even going on. It's impossible to set up and it's a chaos to manage. That's why over this last year, I did the thing. I made a budgeting app for you guys. This does not need to be complicated. You're trying to take control of your life. So it should be simple. It should be chill. It should be easy to set up and easy to manage. I've called it Simpler Budget because that's all it is. It's your simpler budget. But we upped the ante with continued education and an ad-free version.

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27:15And because I love you guys and it's a new year, literally anyone who signs up for the month of January gets all of this, including premium for free for a month. It's time to actually make a budget and stick to it for the first time ever. Let's take control of our 2025 and make this the best year ever. Download the Simpler Budget app today. A link in the description below. This budgeting app will change your life. You want to have kids. You want to have a family. You want to have goals. Your household finances matter. Okay? Yeah. Yeah? All right. I'm going to say 3, 2, 1, go. On go, I want you guys to give me at the same exact time what you think your household financial score is headed into this marriage.

28:01A 0 out of 10. 0 being the absolute worst, 10 being the absolute best. Where do you think your household financial score is? In 3, 2, 1. 3. 3. Okay. We're aligned. So you think you're pretty close to average. You don't think you're at the bottom of the barrel. We owe the IRS money. Why aren't we at the like, oh, shit. You know, I feel like we live pretty comfortably for what it's worth. I'm dead. Spending more money than you make. Yeah, go ahead. Yeah, sure. But at the end of the day, I mean, as far as the house going, we're almost done with that. So, you know, I don't have to buy like insulation and drywall.

28:40Guys,$1 ,000 going out to you,$750 in miscellaneous. It is not about insulation. Yeah, but I mean. That was a month. I think it pulls us up a little. He has a pretty good retirement. I know I don't have any, or pretty much any, so that's. Well, that's bad. Yeah, that's dragging me down. What's your pretty good retirement? TMRS. He's at. Yeah, how much? Well, it's 20, but it doesn't get two to one until I get five years. I'm almost at five years. He's a third of the way where he should be in two years. So, no, he'd get a three out of ten on just retirement. loan. $6 ,000. $60 ,000 right now. Better than you are, but yeah, when you have zero, everyone's doing better than you are.

29:17All right, guys, if you want your Hammer Financial score, it's free. See where you stand in the world of your financial health. Go to calebhammer.com. It's there. You can go to calebhammer.com slash apply specifically if you want to come on the show. Have you guys had a good experience so far coming in, meeting some of the crew, talking to lovely Lindsey? Yeah, Lindsey's great. Then you get beat up by me a little and all your onboarding videos and all that good stuff. Thank you for going through that entire process because we want to braid you guys with information. I was definitely braiding with information.

29:46Yeah. We need to make sure you guys know what you're getting into, okay? That mustache is getting exposed to a lot of people right now. He trimmed it for you also. Well, thank you. That's so kind of you. I wish you could have trimmed this IRS that, which is the first step. Shopping is hard, right? But I found a better way. Stitch Fix online personal styling makes it easy. I just give my stylist my size, style, and budget preferences. I order boxes when I want and how I want. No subscription required. And he sends just for me pieces, plus outfit recommendations and styling tips. I keep what works and send back the rest.

30:20It's so easy. Make style easy. Get started today at stitchfix.com slash Spotify. That's stitchfix.com slash Spotify. We're going to talk about... Damn, I thought we kind of went over it. Like, it's got to get paid. Yeah, but let's book it in the debt counter right now. $1 ,381.66. Okay. So this is at 8 %? What's your minimum monthly? I pay$2.50 on it. What's your minimum monthly? That's a whole mess right there. We have not been able to get. He had his last one set up on a payment plan, and they haven't cleared out that payment. Last one? Yeah. There's another one. No, for 2023. Is it done? Or 2022.

31:02Yeah, it's paid. off. Why are you always so behind on your desk? Okay. They haven't cleared out that old payment plan yet and it's not letting him do a new one so we need to get the IRS on the phone and get it figured out. Why haven't you got the IRS on the phone and figured it out? Have you tried calling the IRS lately? Oh yeah. It's rough. We've communicated well with the IRS to pay our business 2024 taxes. But$250 is what I pay on it. So it should be paid off in a few months. And then fun fact, I will I'll do$250, which I know the minimum was. You'll owe the IRS? $1 ,000. Now for why? I got some bad advice about the advanced tax credit for the health care, and I have to pay that back.

31:44For the health care? You're on the affordable care? Do you qualify for that? Well, initially, whenever I signed up for it, whenever I turned 26, I did. So a year ago, what were you making at that time? So you're still on that. You still have your plan through that. Yes. So you have to pay a little extra. Okay, and this is when taxes come due. Yes, yes. Okay. I drafted my return this morning. Okay, so$1 ,000. Okay, so$1 ,000 for future taxes. Yeah. 8 % not insignificant. Again, on average, your housing is not beating that. The value of your land is not beating that on average. Obviously, during the COVID boom, sure.

32:23Apple Card. Who's Apple Card? Are you guys joint on anything debt-wise? No. Okay, so your Apple. Um, are we? The AC maybe. No, the AC is on my phone. I thought you guys told me you knew your finances together. I was thinking that, yeah, we were together on the AC loan, but we're not. How often do you guys talk about money? Really? Come on. Almost really. Okay. Just not in a smart way because you don't seem to know. I think the goal we've had, or at least the goal I've had, is just paying out the lower ones first. so this Apple credit card is actually one of the next ones that we're going to be or I'm going to be tackling for sure because it is my debt that one's pretty diabolical honestly because you can just press the button on the phone and it's done you know and I don't even have the card because I've tried to get away from it but it's just so constant it's constantly available you can't really close it even if you lock it it still lets you pay for it You know?

33:28Stopping at a gas station, getting some bullshit. Oh, that was gas. Only$10 a gas. $10.23 a gas. Sometimes it'd be like that. But why? Why on a card? Is this maxed out? This has to be close to it. Yeah. How long does this take to pay off doing minimum monthly payments, guys? It's going to take forever. How long does this take to pay off using minimum monthly payments, guys? That was the question, by the way. I'd say probably about eight or nine. Thirteen. Yeah. No, I don't. What is the limit on this card? $2 ,500. That's the limit. Okay, so we're like$60 away. $60,$70 away. Why keep it up there?

34:05I understand the paying minimums on some other... Well, we're paying a minimum on this trying to pay off some smaller balances. I get that part. I get that part. Why are we putting money on this card? You know money's being put on this card? I didn't know that. Okay, so we are not communicating, guys. I was told it was... It's a lie. Oh, so why are you telling her incorrect information then? I guess she didn't ask at the time. She has to ask to know. When we're communicating about finances, she's required to ask to know things. I mean. This is how we're starting our communication before the marriage happens?

34:40Yeah, I mean, she didn't. I mean, you know, it was a couple times on there besides that. Why doesn't she get to know unless she asks? I guess. Would you guys run that? Or would you? Are you okay with him spending on this? No. I mean. So what are we doing then? I guess in my mind, that's my debt and it's my problem. So when it's. Yeah. It is communal money, though, because if you don't have the money to buy stuff for the house, then it's my money. And then in that way, it becomes joint. Right. All right. Well, plus, depending on how you guys do things, you could be responsible for it. If you get in the future as an assets would have to be sold in order, maybe settle.

35:22Right. Well, it's just, I mean, I don't want to have the debt, but it has been hard as heck to pay that thing off. I don't want to have the debt, so let me spend money and make the debt worse. It's an interesting philosophy, interesting strategy. Not what I've personally considered. Yeah, no, it's, I don't know what really to say on that thing. The reason I spend on it is because it's always available no matter what you do. But it's$60. $60 away. Yeah. $60 and it's done. Want to max out a credit card in your marriage? No, but I almost have one of my own.

36:07$79 minimum payment. That's all we put towards it. And, yeah, this is maybe gas, I guess. It's a little bit of gas. What are you driving? I drive a Chevy 1500. So it's like no gas. I mean, you got me to work that day, right? Is that what we're doing? We're living day to day over$100 ,000 a year as a household. And we're just like, oh, yeah, I made it to work. $140 ,000 a year as a household. I got to work. Those are the big goals we're striving towards. That's where we're happy and satisfied. Yeah, interest charged last year alone,$669. $669. that could have gone towards insulation. I know you like your insulation.

36:51Yeah. I mean, honestly, that's kind of surprising it's that low, to be honest with you. And we're okay with that. I mean, I'm not okay with it. You're spending on it, so you are. You're spending on it, so you are. Your actions are suggesting that you are okay with it. I think it's not the, you know, I want to get rid of it, but it is kind of a backup plan whenever I need money. You could sell one of the cars and maybe pay something off. What is one of? How many cars do we have? Running? Don't be one of these guys. You're one of those guys. You look like one of those guys. Of course you're one of those guys.

37:29You're in the hill country. Well, you know, they all ran when I bought them. Great. How many piles of metal do we have? We have his car, my car, and we have three not running. So a Jeep, a bucket truck, and a... I just sold the bucket truck for what it's worth. For what? I mean, like two grand, you know. It's not running. It wasn't running, and it really is kind of a piece of shit. Why do you have all this? Well, you know, the truck is a dump truck that I built. It's a dump truck that you built? Yeah. You built a dump truck for the trees? It's a Ford 2500. Is it for the trees? Yeah, you know, dump like firewood and stuff or chips.

38:13wood chips yeah wood chips why are you dumping chips well well you know when you get business yeah when i went for the business yeah it was for the business it's a necessary purchase um and now it just doesn't run which is why i have the truck i have now i didn't have any payments but how much were you making off these chips i'm i wasn't i mean that's just a way to get rid of them just a way to throw was this the business you were making two thousand dollars a month on yeah okay yeah no So is that a part of the reason why you're not doing it anymore? Because this isn't driving? No, it drove until after the end of the business.

38:46But it's not now. I think if it was running, he would probably be still doing it. See, that's what I was asking. Why are you denying that, dude? Well, I mean, I don't know if I would still be doing it. It might sell firewood still. What are you doing with firewood? Selling it? Well, after you cut it down, people want you to take it away. So you cut down trees. But you would have to be cutting down other people's trees for that, right? or are you cutting down your own trees? No, it's other people's trees. Okay, so you'd still have to be doing the business in order to do that firewood thing. Yeah, but at the end of the day, I stopped it so I could start working at my house.

39:18That was the whole thing. Yes, no, I got... Yes, yes, yes, yes, yes. Your lovely future wife thinks he would be doing that today if the truck ran, is what we're saying. He definitely still gets people calling or texting about it sometimes, asking him to do different trees, different places. So I think he would. He has a hard time saying no, so I think you would still be doing it if we had this. That would be good for you guys. Obviously, okay. You're not credit card people. You're not. Nope. Congratulations. You don't know how to use that. Use the Fizz card. It's a debit card. Debit card that builds credit, so you can use the Fizz card.

39:56Wonderful. Okay, use that. And I'll also gift you an accounting certification so you can use that leverage and hopefully get a raise from course careers. and then we'll also get you guys to sit down with our therapist for three sessions for free at Sondermind so you're going into this marriage healthy please please tell me you're open to therapy why'd you just look at him oh I am oh yeah this was a recent we're gonna be a man oh my I don't need to talk about my feelings I gotta afford he wasn't totally against it but he said if if it was us together he'd be more open to it but nothing individual well did you suggest he should do individual well i was just thinking you know in general just to figure out where we are before we go into everything yeah why aren't you open i mean i just i feel like i if that was i mean we're he feels like he doesn't need to talk to anyone i'm a red-faced man who lives in the country has a ford i'm a man i'm wearing camouflage look i mean it i'm fine with where i'm at mentally you know but i don't think that's what we're here to talk about feel free to prefer to use them not not necessarily that's not everything in the world impacts finances right like everything comes back to finances it's mental it's relationships so much impacts it so you're right we're here to talk about finances but everything impacts it in a different way cups therapy before marriage might be worth really sitting down talking some things out mostly because it looks like your future wife would like that just why are you against it that's I'm not necessarily against it.

41:34I just don't. Was it a bit fruity for you? I wouldn't say that. I'd be fine with if we needed to do a relationship deal. You know, a lot of that stuff, I'm not going to on the therapy world too much, but it's just like a lot of it's, don't wait until there's something wrong. A lot of it is just healthy. It's just good. It's just another health to take care of. reading's good for health it helps you know statistically you know less people that read have a less likely chance of getting dementia there's physical activity health there's a lot of different health this is mental health right it's good to take care of that you want kids eventually more yeah you're gonna be busting them out so busting some out what sounds like a lot well how many kids are you guys gonna have oh i think one or two okay well i'm just saying You want to be in the best place necessary.

42:31Okay. What is this? Who has the Discover It card? That's me. Okay. You're right. You do have a f*** card. It's a quadruple f*** compared to the last card. Yep. Okay. What did you do here? What's happening? So back last April, I decided it was going to be a good idea to put LASIK on that card. LASIK? On a card that is accruing interest? So I went and tried to get a personal loan and it was going to be 23 % interest. They weren't having a borrowing through the place that did LASIK opportunity? and then I tried to get care credit, and it was going to be a 26 % interest, and yeah, I think that one's 19.

43:05That's close. It's basically 17 or 18, but still 18%. Yeah, I mean, sure, it's better than 28. That doesn't mean it's good. It's crazy. So why was LASIK such a critical need that we couldn't try to save up for this? Because I know you guys use a lot of money for the house, so obviously we have the ability to put money towards it. In LASIK, for a lot of people, I would love to hear you defend it. It is not a medical 100 % necessity. I would love it. Do I need it? No. Sometimes running a business can feel a lot like juggling flaming swords. You've got inflation, interest rates, and supply chain headaches flying at you, all while trying to stay ahead of the competition.

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45:02I examined all that. It was about$600 a year. And then I was terrible about taking out my contacts. Yeah, the interest on this card was$1 ,290 last year. Yeah. Annette, I think, fuck you. Yeah, it's pretty bad. Yeah. Yeah, and I'm okay with that because... You're okay with that? Yeah. But your justification was it was$600 a year. But they did it halfway sick. But I was so bad about taking out my contacts and... Cool, wear glasses. And I could not wear... My glasses were going to be super expensive if I had to get the ones with astigmatism. I have the ones with astigmatism. It wasn't that expensive.

45:40Mine were going to be... I think it's worth it. What parts were going to be a lot? The lenses. Through who? My vision center. Why would you go through your vision center? Well, they would run it through my insurance, but I only got like 100. What? To get the frame? Buddy, you can get glasses from like a million different places. There's budget glasses options like crazy. But it was the lenses that were expensive, and they only covered 150 anyways. No. Do you think the place that measured your eyes are the ones that are creating the lenses to give to the places that you buy frames from? No, I know they send them off.

46:16Send them. What do you mean send them off? They don't make the lenses in the... What are you talking about? What are you talking about? You could have used a budget-friendly place. Even Sam's Club. Okay, but still the lenses were going to be... I'm sorry. I'm saying the lenses. I'm not meaning the lenses. I realized my error there. The... Yeah. Oh, am I saying? The glass part. The lenses. How many places did you probably shop them? I looked at... I can't remember the two online, but I looked at two online. and I've gone to two different vision centers in our town and we only have like three. So I am okay with the, I know it's a lot of interest.

46:55I'm okay with you getting LASIK as well. Highly encouraged. Good job. That's not the thing we're fighting about. I'm just saying you have an 18 % debt on it with$0 invested in your future. And even if you did, even if you did, listen, I opened that. I opened my brokerage, every single day and i'm buying s &p 500 guess what it did great last year but on average it's doing 10 you're at a debt for lasik something you did in a hundred percent need for a medical emergency or necessity you have that at 18 i am not against lasik i would encourage you to get lasik good job i would not be doing it at an 18 debt because why it cost me 600 a year for fine you get expensive glasses expensive glasses these were a couple hundred bucks so let's say yours would have been about 600 right yeah$1 ,200 a year in interest a year on this yeah but it was so f*** you your math is broken it's simply broken does this not make sense guys are the numbers not adding up the numbers what are they saying i don't i don't feel bad about that dad i know i feel bad about the lasik it's the debt is absolutely stupid and i part of it was because of just the headaches and everything and being bad about taking out my contacts and glasses and glasses would give me headaches at night i can't see at night with glasses you sleep with your eyes open we're driving especially like in this time when it gets dark at 4 30 and i cannot see at night it gives me headaches i tried glasses hair like it's awful um and so i was wearing my contacts really bad about taking them out i was going into the eye doctor pretty consistently okay okay because of dry eyes things like that potential infections potential holes in the back of the eye i went ahead and did lasix and so i don't remember that at all with the lasik as well the debt yeah it is horrendous i am still okay with that percentage as opposed to potentially having to get eye surgery later because and if i talked to your doctor he would 100 say everything that you just said and you're not just using it as a way to get out of this little pushback no

49:10i've never had to deal with any of that but if i had to do it i'd get lasix no but you know what she's dealt with is that 100 accurate her doctor did say hey you should get lasix for what it's worth should get lasix he did say that okay i'll i'll go with that but i would get i mean if i had to pay a little bit of debt on there i'd be fine with it for eyes i'm okay with a little bit of debt again. We're talking about the kind of debt. I really didn't want to go the credit card route with putting it on there. And I probably could have waited a little bit longer. And it was also before we moved in together and I was doing really good about paying it until we moved in.

49:44And then my extra money started going towards house. A house that you work on and don't have any equity yet. That's stupid. That doesn't make any sense. Well, it was basically replacing my rent that I was playing. It was, but now you're not making the progress on the credit card that you said you were before so that so what are you talking about well all of it in my eyes it was like all of my extra money needed to go to the house and instead of an 18 percent loan yeah on something that we all agree with that we're glad you got but now we prioritize paying it off i am trying to now i haven't spent on it since october and you're spending on the card you were spending on the card?

50:24Yeah. Oh my f***. So it wasn't even just the LASIK. So it's just like what am I f***ing? Are you kidding me? That's completely different. You're spending on the card. Not anymore you were. How much of this was LASIK for suspending of the$9 ,340 and 50 cents? 55 was LASIK. Oh my f***. So why are we talking about LASIK here lady? Half of it's not. Half of it's bulls*** probably. F*** your LASIK. That's not even what it was. A few of those were my... A few of those doubled. No, a few of the charges on there were my CPA exams. I know I had put a few on there. And those are 260-ish. Dude, you make so much money.

51:05Why would that purchase have to be on a f***ing credit card? That is your money's mismanagement. You're trying to make it sound like, oh, because I need it for my f***ing career. It's okay. No, you should have been able to cash flow this because you're actually making money. And that just speaks to your financial mismanagement. You make money. It's not a get-out-of-jail-free card because it was something that was good. Same with the LASIK. You could have actually afforded this$5 ,000 thing. You could have. You make good money. You f*** off your money. I don't know. I'd call it. I would. I just saw$1 ,000 going out to eat and$750 in miscellaneous bulls***.

51:40So f*** off your f*** off your f*** off you. Yeah. I still don't. I mean, I did not know it was up to$9 ,000 to be completely honest with you. Oh, but we talk about our money every day, guys. Every day. We sit down and we talk about our money. Huh? I thought he knew about it. Well. He knew the LASIK was on it. And I thought we talked about it. I knew the LASIK was on it. We apparently think we talk about a lot of things, but apparently we talk about nothing. I don't know about that. Well, so far we've looked at what? Two credit cards. And you guys did not know the things we talked about. So, yeah, sure.

52:23Be defensive about that. It's literally inaccurate.

52:31Yeah, maybe. I guess so. Maybe I guess so. What, you think she's going to beat you on the way home? What, you can't talk up and have a real opinion? You know I'm right. You didn't know the balance on this, and she didn't know you were purchasing that other credit card. You don't f***ing know, guys. yeah I mean I guess I don't I really don't have room to talk on mine because because I also have a shit claim game I'm just acknowledge the fact that you guys do not know as much about your personal finances as you suggested you did now you're we don't we don't he almost actually admitted it well he did he's more afraid of his wife though future wife really I don't know he's pussyfooting like crazy okay so yeah $1 ,200 an interest.

53:20Okay. Not all for the LASIK. Did you see the moment in the conversation where after you explained it, I was about to accept that, okay, fine, now let's just deal with this card. It was for LASIK. It sounded like it was medically necessary. Did you see where I got there? Yeah. Yeah. You almost had me. And then half of it was spent on bullshit. To be honest. We're almost there. I know, but you led me to believe it was all for LASIK. It was misled. As he would say, you didn't ask. Yeah, because that's how adults do things. Okay, so what is this? Oh, AC. AC loan. Good. So we're not cash flowing the house.

53:57That's the only thing we did not pay. Pretty big thing. It's multi-thousands of dollars. In fact,$3 ,526.24. That and the lumber. We didn't cash flow the lumber. All our extra money is going to a house that we're cash flowing. The original frame. The original frame of the house. I don't care what it is. It's not everything. You're not cash flowing this house. You're borrowing for multi parts of it. I think I said now we are cash flowing. Oh, thank goodness. Yeah, I'd say the original frame. So now we're cash flowing instead of paying for the debts that we used to start it. We're paying for our debts.

54:29They're all on time. Minimum monthly payment. It's not what I'm considering paying. Oh, no. When you're living in a house that you have to, that you can't fucking cook in. You're living in two rooms. Yeah, exactly. Then you start just throwing all your money at something instead of paying on debt. So what do I do when I know I would make bad behavior if I get into a situation? I don't get myself into that situation. It's an interesting philosophy. You can't use it as an excuse. You did it to yourselves. That doesn't all of a sudden justify. So again, I don't think I said$187 is the minimum monthly payment on the last one.

55:06Minimum monthly payment on this one is$228.59. It's a 9.5 % interest. So now it's like not even competing with the S &P 500. sake certainly not on the land i think that was the better interest rate we could get on it yeah that does not mean it's good i have to get that guys out of your head a hundred degrees in texas yeah what i don't know you got yourself into the situation by choice sure but i mean it's going to go into the full price of the house you know i mean it's yeah that you get a cash flow at zero percent interest now you have something that's ten percent interest put multi-thousands on it then you pay multi-hundreds extra.

55:46I don't know. You don't know? It doesn't really add up when you look at it. It is literally adding up. You need an AC to live around here. By this situation you forced yourself in, you're justifying it because you made a dumb decision. I don't know about a dumb decision. A dumb decision because now you have a 9 % loan on it plus another multi-percent loan on it, plus not paying your taxes, plus not being ready for your future taxes, plus having to max out credit cards. Yeah, I'd say stupid. I can't agree with you that. I think renting an apartment and then trying to do all this would have been stupid.

56:23That doesn't really make any sense. Renting an apartment, you're not forced to make stupid financial choices to take out loans in order to deal with certain things of the apartment. When you live in the apartment, you have the landlord. When you live in the apartment, you can budget a little more accurately because you're not putting your extra money into these Lego pieces of a house. When you have an apartment, you have stability. instead of this confusion that you have on. Yeah, but if you're paying$1 ,200,$1 ,300,$1 ,400 a month. Oh, it's not going into equity? Is that what we're about to say?

56:49It's not going to any equity. Guess what? Your 9.5 % is going into equity for the bank. What equity are you getting into your house? 2 % a year raised? At least it's my house. Hoping that people are going to want to buy it? I'm not really worried if someone else is going to buy it. But it's my house. Then there's no point of the equity anyway because then it's not even ever going to be realized. You don't even know what the equity is. Why are you caring about equity if you're never going to utilize it? I mean, it might, you know, at the end of the day, it's going to benefit me or an apartment is just a place to live.

57:18Apartment would have benefit your financial situation because you would. I don't know about that. Especially. I don't know. How much guys have you put into this house this last year? Maybe like 30 grand. Okay. Yeah. 30. Yeah. An apartment would have benefited your financial situation. Yeah. But once we finish that. Are you guys stupid? Do you not know how math is working? If you spent$12 ,000 a year on rent versus$30 ,000 in the house, yes, you have an equity position, but you wouldn't be owing the IRS. Wow, I think we'd spell it out there. The IRS comes first. They can take s*** with their guns.

57:50They can take s*** after I don't pay for a while. The money you're putting into the house is gaining 3 % a year on average. You have the debt that is accruing 9.5 % that you could have paid off if you're spending half your money on living. It's dumb. We all want property ownership. I f***ing have it in my Hammer Financial Score property ownership. That's how much I care about it. People rag on me all the time for that. I don't give a f***. But guess what? Obviously, I give a s*** about that. Doesn't mean if you're doing it in a dumb f*** way, it's good. Property does not equal always good no matter what.

58:28You can still do it in a stupid way. You're doing it in a stupid way. You're putting yourselves in situations where you're justifying a 9.5 interest thing in order to stay a little cool. Yeah, when you're forced to justify that, yeah, you're doing it a little bit wrong. Yeah, I just disagree, yet you're not able to use any logic to justify that. You're saying$12 ,000 a f***ing year? Yes. $12 ,000 a f***ing year? Yes. That's like, goddamn, that's half the house of the year that we spent. I get that, but it's not forcing you to put more money other places. Also, you're taking care of your risk. You have so much risk on top of you.

59:07Debt equals risk, and you have a variety of debts, maxed out debts. Debt that you're making no progress on other than minimum payment debts.

59:16I feel like I'm making progress on them. No good rebuttal to that. As someone who owns their home, let me tell you, You know how you feel when you try to pick a show that's on a streaming service and there are way too many options? That's house hunting with mortgages. Except picking the wrong choice signs you up for a world of headaches. But I've got some good news. Money.com has lined up its top mortgage options just like your favorite playlist. They simplify the noise to help you actually figure out what mortgage options will work best for your situation. If you're a first-time buyer, why wade through a swamp of lenders when you can get a clear path lane out for you?

59:50Money.com does the heavy lifting. comparing options in one place. So if you're tired of the mortgage maze and want a straight shot to your dream home, check out money.com's list at the link in the description below. Seriously, it's like having a GPS for your mortgage journey. So get started by checking it out at the link in the description below. This is a paid endorsement sponsored by money.com, which is compensated by its marketing partners. Fuck. Home Depot. Yeah, that makes sense. So what part of the house was this for, guys? Yeah, so this is going to be the most diabolical dead right here.

1:00:22Diabolical? Oh, boy. Yeah. So I use this, and I'm going to go ahead and say I was recommended to use this. By who? By a friend of mine. Ah, yes. Yeah. So I'll get into that one. So I use that to get the original frame because you have to put it all up at one time. So it's just a frame. This is telling me you couldn't afford to do this project. I don't know. I don't really see what the difference in what we're doing, though, than someone going and taking out a$200 ,000 loan to buy a house. I'll tell you exactly what it is. Okay, yes, tell us. I'll tell you exactly what it is. Someone does that.

1:01:02They borrowed it at 5%. You're borrowing this at 30 %! Yeah. What the f*** do you think is different between 5 and 30? Come on! It's the dumbest f***ing thing I've ever heard. Go on, continue your story. So, yeah, I mean, there's 0 % APR for six months. and when you sign up for it, you really think you're going to get it in six months. Because we have to justify every single purchase we're ever doing, spending a thousand hours going out to E, having to get AC, having to do all these extra things because we put ourselves in a situation that's uncomfortable. So we have to do extra things in order to make it comfortable.

1:01:29Go for it. So that's pretty much how I got there. I didn't pay. I didn't even get close to paying it off in six months. Oh, interesting. Yes, I know. How's that happen? Oh, that's curious. We're all shocked. We're all stunned. Yeah, that was, yeah. I wouldn't recommend that to anyone to get a Home Depot credit card because you're not going to pay it off. Yeah, it is how you are doing it. Okay,$5 ,112.90,$188 minimum payment,$1 ,800 of interest accrued last year, 30 % interest rate. This is f***ing. Yeah, that one's disgusting. Yeah. We had to do it. We had to frame our new little house. Yeah. You guys could have done this a good way.

1:02:20You could have gotten a home building mortgage. You could have just done this in a smart way. I think had this, had he had not started this before we got together, I think things would have gone a little bit differently. But it did start, it started well before. You started this how many years ago? Because you got the land four. Yeah, I got the land and I put a well on it. septic electric and then did the peers and then he started the actual house about three months before we met um so he already yeah he didn't do a package on the you know we're a lot to change directions sometimes if our life changes and your life has changed yeah this one that being said she seems to be very supportive of this so i genuinely have no idea what i'm gonna do with this one because it's i can't pay the minimum it's can't be the minimum what do you mean it's 188 dollars No, I can pay the minimum, but it doesn't make a dent at all.

1:03:13It makes a little, but yeah. It doesn't seem like it. It's going to take a long time. How long do you think it takes to pay off? I think it's 20 years to pay this thing off. It's just about 20 years. But it's like I pay the minimum, and it just keeps going over$5 ,000, even when I get it under. It just doesn't move. Oh, is$5 ,000 the limit? Yeah. Yeah, you had some fees last year. I guess a home building loan might have been the way to go with that one. But here we are. At the time, it seemed like a good idea with a 0 % APR for six months, but it just never came around to being – it fucked me.

1:03:45I mean, I can't grow much too more on that. All right. Let's keep looking. Okay, what do we got here? What is this? This looks like – okay, so this is another loan. I think this is your truck. The 12? 9.25 %? No, no. This is just truck. What is this? It's$12 ,819.86. I think that's the well loan. I believe that. Oh my gosh, you didn't cash full any of this. Well, well is 30 grand. Yes, but you're getting yourself into a position where you're forced to borrow. That is not necessarily a good thing. We do these big things that can be good when we're able to do them in a good way. I did get on the well.

1:04:22I'll say that all of this man. None of this is not good so far. I actually paid half of it. I see you're at 12 ,819, but it's still 9.25%. I originally was quoted 20 grand for a well, which is fair. And then this company ragged me around for like seven months saying, oh, yeah, we'll get to it. We'll get to it. We'll get to it. And then COVID happened. And they're like, oh, yeah, now it's going to be 30 grand. And I'm like, all right, you. So I went to another well company. And then they they were the same price. Anyways, it was 29. So I gave him 10 grand. And then so it was pretty 10 down. I gave him 10, and then I got a loan for the rest.

1:05:07So this has been sitting for about four years. Okay, maturity date is 2028, and this is taking forever. 1 ,400 hours of interest accrued last year. This is the well. Okay. Your minimum monthly is 469. Now this starts to stack. This starts to stack here, man. That's where I start feeling the minimum payments. and you see a$469 minimum payment on a well. Yeah, I'm in. Guess what? I'm going to let you in on a little thing. You don't have to borrow$20 ,000 when you live in an apartment for water. Okay, now what is this$10 ,982 loan? So that's my truck. Okay, does this truck run? Yes. I don't owe on any of the things that don't run.

1:05:53Thank – okay, what is the truck? It's a 2009 Chevy 1500. $9 ,200 is what it's valued at. So a little underwater, but not dramatically. This is a couple thousand bucks, essentially. But yeah, again, the minimum of the payments is where they start to stack up dramatically. $339.68. That's 10 % interest. The 10 %... Don't tell me this is one of the better ones that we could have got. It is. That doesn't mean it's good. When did you get this? It's been a little over a year now. Yeah, rates were not good. Why did you have to go borrow for this? You know, this is the interesting thing is you guys have gotten yourself into the situation that we already know about where you're forced to borrow for all these different things.

1:06:36Making your minimum payments absolutely brutal. But the thing is, if you guys actually cash flowed some of the things lived in an apartment, you would be buying this truck in cash. You'd be doing all these things and then you'd save for a couple of years. You'd do this house in cash. All this stuff, if you just did it properly, you're delaying the entire process and longevity of actually paying for it by a decade, if not more. This is brutal, man. Maturity date is 2028 again. Gosh. Yeah, I mean, I had a cash flow truck. It's the one that broke. Yeah, and they just keep... Why didn't you have an emergency fund?

1:07:06A property without emergency fund? That's f***ed. We've talked about this. Yeah, we need to get... I'm glad you guys have talked about it. Why haven't you done anything? Well, I've started back up my savings. I have a decent amount, but... What do you have? Well, no, I'm sorry. I did have a decent amount. Where'd it go? What did you have? I was almost at$15 ,000. Where'd it go? Most of it went to the house. because after the interest that accrues on all this whatever equity position you had i mean it's it's it'll be eaten up anyway a lot of it through just the interest oh guys and you yeah no i don't nothing oh well have you learned your lesson because you had to get another truck and borrow 10 for okay great i see another little special thing 17 000 this time what is this 17 $20 ,000 and$50.

1:07:52That's my car. Oh, what kind of car do you have? 2018 Jeep Compass. Oh, it's a Jeep. I like it. You like it? Well, it's not a Jeep Jeep. It's not insanely reliable for a long time. I think it's been pretty good. I've had it for almost four years. Okay. How many miles are on it? 70. Yeah. I know I'm under on it. You're under on it by$5 ,000. It's worth 12. Yeah. At least it's at a 4.75 % interest rate. That's the first interest rate where I'm not vomiting at today. $416 minimum fee payment, though. There's just the other stack and the pyramid. This is getting brutal at this point. These minimum monthlies are rough.

1:08:35I forgot my whole savings did not go to the house. Half of it went to this car. So before? Yeah. And it's still underwater by five? Yeah. Oh. Oh, fuck. My last car, the turbo went out on it and it was going to be too expensive to. Oh, after half your savings, it's still underwater by five. This is man. You got this car four years ago. So you got this during the car and just crisis of price. Yeah. Oh, who lives in a pineapple under the sea? Yeah, there was. I couldn't find any used cars that were reliable in our area. Another 2028 maturity. So you have an eight-year loan on this thing. No, it was six.

1:09:22Three. Okay, maybe I got it three years ago. Sorry.

1:09:28It was absolutely a six-year. Okay. Which I know is really high, but it was absolutely. Yeah, not great. Yeah, I am positive it was a six-year though. You know the rule? You don't know the rule. A third of your income. A third of your income? Don't go over a third. A third for a car? That's what I've always heard. Who told you that? Is that not what you've always heard too? Who told you that possibly? It's the most American thing I've ever heard in my fucking life. Who told you that? Who told you that? I've heard it. Brian and Bo with the money guys. That's who we trust. That's who we trust. They talk to the people that are a step beyond yours.

1:10:06You'll get there eventually. You know, we talk to the bottom dwellers of finances. the ones who are at the you know the zero to zero to three financial score they got the the five to seven financial score they say no longer than three year term yeah you broke that by two no more than eight percent of your gross income on a monthly basis and 20 down minimum that's when a car loan is considered relatively affordable i yeah you broke that rule by multiple well i'm going to blame my parents on that one well yeah don't listen to people that don't know anything and aren't good with money yeah it's usually and it's another crazy philosophy student loans that i sniff student loans on you that's me so this is for the accounting degree uh bachelor's and master's yes oh my gosh 31 000 is it locked it's it's i'm in forbearance right now until march why i honestly have no idea and i've called what were you in what were you into like a payment program program?

1:11:08Yeah, I was in the PSFL. Yeah, they're the save save. Yes, you're in save because it's being challenged in court. But guess what? I'm not a crystal ball person. It's not looking good though for the save, especially with the new administration. So you're likely going to have what was your minimum payment previously? 115. No, what about before save? I your minimum payment is going to be about 400 bucks. So in March, it restarts about at about 100. And then in November, it goes up to 350. I'll put it at 100 for now. November. Okay, I'll put it at 100 for now. I think, I don't think things look good for this loan.

1:11:45I'll be honest. For the safe? Yeah. Yeah. Things aren't looking good. Yeah, I don't. Let me see if there's been a status update. I haven't followed the news around that one specifically. I'm curious. It's still currently suspended on legal challenges because, yeah, August 2024, a circuit court of appeals issued an injunction blocking the implementation of the safe plan, then included provisions for lower monthly payments and interest in subsidies. The United States Supreme Court declined to lift this injunction, leaving the plan on hold as litigation continues. Wow, that does not look good for you.

1:12:17Okay, I'd be prepared for something chunky. I wasn't going to start. Sorry, go ahead. My plan was, you know, assuming that I don't screw myself in other areas, but it was to put the extra, So do$250 basically into my savings so that whenever November rolls around, I make sure that I have backup in there. Backup? Why don't you just budget properly once it's – I'm good with an emergency fund, but why not just – I want to be able to just pay the$350,$400. I think it was a little over$350. I want to, but I want to have that just in case. So I'm going to start acting like I need to pay$350 now. Okay.

1:12:53I see what you're saying. Yeah. I would rather that extra$3.50 go to a 17%, 18 % credit card, but I see what you're saying. Well, we'll talk about that at the end. Okay, what is this now? This must be the lot loan. Yeah, this is a mortgage. The lot on the land. Yeah. Okay. It's at 5%, so that's fine. $82 ,202.65. Minimum through payment,$8.15. Not much to say there. Hold on, what is this? That's McCoy's. McCoy's credit card? It's like... It was a McCoy. Lumber. It's a lumber store. It's not just lumber. That was for plumbing.

1:13:35What? I feel like I'm missing the first page of this. I may have f***ed this up, but I'm seeing$1 ,768.66. Okay. Lumber. It was actually... We can call it a hardware store, but... It's lumber. What is the minimum fee payment on this? Pretty low. Maybe$80? Yeah. Okay. That's one of those ones that depends on what the balance is. Why so many fees? $221 of fees last year. What are we doing? Were we late ever? What was happening? We haven't been late. I don't honestly. Would you honestly know based on this conversation so far? I don't think you would know. All of that is set up on auto draft. Yeah, but what if there wasn't enough money in this account where it came from at the time where it started this draft?

1:14:19It comes from our joint checking and there's always money in there. I check that religiously. Does this have a kind of fees added to it on a monthly basis? I don't. No, no. Here we go. Look, fees added this last month,$22. Dude, this is a brutal card. That plus the interest. Dude, this card's brutal. The fee payment. Yeah, security fee. This is insane, dude. That's plus the 34%. Oh, okay. Most of it's a 30%. And even still, there is a 34 % option in there for a few bucks. This card is f***. That is a f*** card. Sydney, is there any other debt here? What do you mean? In McCoy's? That you guys have?

1:15:01That's everything. I think it's Apple. Okay, we're about to go into the checking account. Guys, when you get home, it's not an option. Again, you're downloading the app before you leave here, the Simpler Budget app. When you get home, start taking the budgeting class together. Go through the classes. Go through the quizzes. Take the debt class together. You guys utilize debt every single second of your life. Learn through the quizzes what is actually good debt and bad debt. I walk with you holding your hand every step of the way. And then take the investing one because you're going to eventually have to start investing.

1:15:33And we'll define your profile. Take all three classes, please, together with the quizzes, everything. It has changed over 10 ,000 people's lives. You guys get it for 15 % off. Wink. But come on. Okay. KCFCU. Is this joint or whose is it? That would be mine. Okay, Dr. Pepper, Dr. Pepper, Spotify, Dr. Pepper, Dr. Pepper, Dr. Pepper, Mexican, Bar and Grill, Mexican, Dr. Pepper, IHOP, IHOP, Tavern, Dr. Pepper, Dr. Pepper, Dr. Pepper, Dr. Pepper, Dr. Pepper, Oh, I'm sorry. Venway not money. Twin Peaks. Dude's looking at some tits. Dude, are you serious? Someone must have my car because I don't go to fucking IHOP.

1:16:22This isn't a joke. This is not a joke, but this is your statement from... I've never been to Happy Cow Bar and Grill. Yes, you have. Oh, this is 2023. Exactly. I was just going to say, this is your 2023, but guess what? We had your 2024. We decided to keep this anyway because your spending is the exact same. A couple different locations, but your spending is the exact same. And I know you'd be looking at them titties. A year ago. Yeah, a year ago. Dr. Pepper, Dr. Pepper, Dr. Pepper. Yeah, this has not changed. Other than the titties, like the spending is the exact same today. I don't know about that, yeah.

1:16:52Titties, or sorry, Dr. Pepper, Dr. Pepper, Dr. Pepper, Dr. Pepper, Dr. Pepper, Dr. Pepper. This is crazy, dude. Dr. Pepper, Dr. Pepper, Dr. Pepper. It is a problem. Amazon. That was a year ago. I'll have to look at that. Dr. Pepper, Dr. Pepper, Apple Bell, Toucan Jim's Tacos. Dr. Pepper. Beer, beer. Dr. Pepper. Overdraft fee. Hopefully that's different these days. Just being a king out there. Yeah. Mexican, toucan. Dr. Pepper, Dr. Pepper, Dr. Pepper. Blizzard. At an inn. Blizzard. Toucan gyms. Mexican, Mexican. Dr. Pepper, Dr. Pepper, Dr. Pepper, Dr. Pepper. Whataburger, Dr. Pepper. Dr. Pepper.

1:17:34Hulu. Dos Amigos. Dr. Pepper. Okay, that was brutal. Yeah, it's crazy. And the reason we did that is just to show him that nothing has changed. Other than, yeah, they're not all going to boobs, but it is the same spending today. It was like literally the exact same. So the math did not change. It was like a few bucks or something. It's crazy, man. Yeah, we've had discussions about the gas station. Good, we've had discussions. Why has nothing been done? Why have you not listened to your future wife? What's happening? Come on, Dr. Pepper. I have decreased the size of the Dr. Pepper. oh the literal size the literal size the amount has not changed why is that good for you either yeah that's my biggest thing well I usually do like an energy drink really it's also not good for you why not brewing coffee at home on the cheap we don't have a kitchen so we don't have a coffee because you guys have set yourself up for great success with this house obviously sweet treat man you're sweet treat You drive a fucking...

1:18:37What are you, a little teenage girl? I'm so confused. You know, midday Dr. Pepper, you know, gets you going for the day. Are you going to stop? What can we do to get him to stop? You know him. This is so much money. So much money. What can you do? I think we need to find an alternative energy source for him. Yeah, brewing coffee. You have an outlet. You don't need a kitchen for a coffee maker. Are you connected to the electricity? Yeah. Congratulations. Make coffee for sake. I don't honestly know. I mean, I think it's just going to be his willpower that's going to make him stop because I don't know.

1:19:15If you're not willing to stop for your wife or your future kids or for your own future, like, this conversation is done. That's Dr. Pepper, dude. We're not giving up the biggest things in the world here. Yeah. Be a man. I could try coffee, but. Do you like coffee? It's all right. You know, on ice. It's about the only way I like it. There's a little teenage girl thing again. Coffee and ice. Well, I don't put anything else in there. It's just black coffee and ice. $95 ending balance on this Wells Fargo. Which one is this? Hobby Lobby, Sally Beauty. Oh, Hobby Lobby, Mary Taco, Whataburger, Rock and Rita's, Music Center, Texan Cooks.

1:19:55You also stop everywhere like crazy. So don't get on his ass about it. Get on each other's ass. Keep each other accountable. Cook food. Meal prep. Wait, how do you guys cook? I cook on an air fryer and a microwave. We also have that little one burner. Oh, and a single burner skillet. I'm going to call this Dr. Pepper feud. Stopping in and getting some bullshit. Chilis, Dr. Pepper, Raising Cane's, Dr. Pepper, Dr. Pepper. Wrestling Rob's Hobby Lobby, Dr. Pepper, Dr. Pepper. Fredericksburg Brewery or something. Daily Donuts. Please don't. Dutch Bros. Chick-fil-A. big lots who the f*** those the big lots I love big lots and it's closing down and I'm really sad about it so you can't spend there vintage stock oh Dr.

1:20:41Pepper what a f***ing joke okay what's this I think that might be my 24 Kerr County oh yeah it's the exact same which one went to the math Jake oh so the math the math that I called out at the beginning was your 2024 stuff wasn't even including the 2023 so it's like your math is beyond your math is beyond it's the same exact stuff, there's blizzards, there's dr pepper taco casa, it's the same exact stuff we already called out blizzard isn't blizzards blizzard is actually wow I thought you were saying blizzards like ice cream I would say dairy queen if it was spotify, dr pepper is everywhere apple bill, pop stroke it's the same exact bullshit multi pages, stupid spending dumbest thing in the entire life again, 950ish going out to eat 750 at miscellaneous bullshit that's stupid just no tits thousand dollars in this account what's this wales fargo this has so many accounts this is fucking crazy roth ira 3000 who's that me so you do have retirement yeah but it's so minimal yeah it is so minimal but and then 22 000 in your thing okay it's a big mountain i do think we have too many accounts open but i don't really know how i don't know how we consolidated at this point well it's then start putting the auto pays in other accounts your direct deposits into certain accounts close to the other accounts sit down for a day grind it out some of this just takes a little bit of work nothing's wrong with that maybe instead of putting insulation in a house that day and borrowing for it okay total household income that hits on a monthly basis,$8 ,400.

1:22:22Okay. Okay. Let's get... Let's do the land as the mortgage of$8 ,1538. Utilities. Costs? Water is included in our well. Phone is$140. Electric... Phone's$140? Mm-hmm. I don't... That might be a different type of utility. Oh, sorry. That's our AT &T bill. But... Hold on. Okay, what's internet? Internet and electrical is the same. And that one's going to be$160 a month for internet and electrical. Okay, is there gas? No. Okay. Phone bill? What's your phone bill? $140. $140, okay. You can do helium if T-Mobile works out there. I'm not sure for the rural areas. T-Mobile doesn't work? No, I had it before we got.

1:23:12Damn, that sucks because you could have done$40 with both of you combined. That would have been great. Okay. Gas. Vroom, vroom, drive, drive. How much? Combined. I probably fill up. I'm going to say$400 for both of us. We have to drive. Is this true? I probably fill up once a week. $60 times$4, you know,$240. And then her car is super cheap. So, yeah,$400 a month. Okay. Car insurances? I pay$269. You? $200. So we're going to start doing this like a joint house because we're preparing for that. Okay. So$4.69. Okay. Medical health care. Any ongoing expenses other than the insurance that gets taken out pre?

1:24:00Mine is not taken out. Okay. How much? $3.35. Cool. And then? Co-pay is anything? Okay. $3.39. Any pets? One. Age? Health? She's four. Pet food? How much? almost nothing 50 bucks a month maybe we get it his mom owns a pet store and we get very well discounted you have pet insurance? no you can't afford it you can't afford a pet because you're not going to let it die if something happens TP fun anything else you guys need to survive this is makeup this is toilet paper whatever 150 bucks groceries we can do about 500 use our cookbook that comes with the app guys use the cookbook okay your debt payments is what we need to add up and while i am is there anything else that needs to be in the budget that i have not included jim anything support oh no i'm sorry that's before yeah that's pre um yeah she i get my gym for free but for her to be honest 25 bucks yeah 25 for jim yeah okay well debt minimum payments not including the mortgage is$2 ,269.16.

1:25:12You crazy guys. All right. In order to survive is$5 ,357. There's no reason why you guys are in this much set. How much do you need to budget towards the house on a monthly basis to continue whatever? Honestly, we have pretty much everything bought at this point. We need to buy some flooring. What's that going to cost? Maybe$500. Okay. You have an extra$3 ,042 left on a monthly basis. There's no reason. Like I said, you could have cash flowed this whole thing. What a joke. Okay, come on, guys. Just pay off smalls to largest. Focus your money together and just pay off the debts. It isn't really complicated.

1:25:52You guys are getting married. Maybe you can pretend like you are. If you're not ready yet for that, that's okay. You can wait till marriage. But even still, paying off the$96 ,217 of bad debt. Actually, no, let's get rid of your student loans. Admit a monthly payment until your student loans are paid off. So student loans is$31 ,000 of that,$854 ,41. So$64 ,362.84 of bad debt. With the$3 ,000, I'll give you guys$500 of fun, okay? That is a lot more than people get on the show. So putting$2 ,500 towards your bad debt on a monthly basis, you're paid off just over a year. Come on. This is the easiest thing in the world, guys.

1:26:33Use the budgeting app. You guys got this if you actually stick to it and actually discipline. and not around and try all this extra Lego crap that you guys are doing. This is so dumb. You guys are out of debt in no time. Bad debt. And then your minimum payments on the student loans and the mortgage and then you get a six month emergency fund. Come on. Spending your budget. You over spend zero out of ten. Your debt score IRS debt that brings us down to a zero out of ten. Emergency fund. There's nothing in savings right now. I have a thousand. One out of ten. Retirement. Yes, you're about a three.

1:27:05you're about a one combined no you're about a four you're about a one combine those we're going to get a two out of ten for the household then real estate you have the land we don't the house situation's rough sure you could sell the land but for the loan for the money you've put in the house it's not a great situation i'm going to give you a five out of ten there all right hammer financial score rounded up two out of ten join us in the post show guys join us there and join elite for a better value your money help support the channel and you get over a thousand hours of extra content and just endless stuff on a weekly basis.

1:27:35You can call in and even talk to me. It's a good time. Make sure to check out all of our education. It's all 15 % off and check out the Simpler Money Budgeting app. See you in the post show. This is big. A major tea update. This is an update on my dating life. And only the pro gooners get to know about the updates on my dating life. To watch the Financial Audit post show, click the join button below.