Gen-Z Scumbag Thinks He’s Better Than Me | Financial Audit

36:29Otherwise, it's an interest. How large? Working out the numbers, the interest was well over 100%. No, no, no. How large is the balance you had to pay off in three months? Oh, like 800? Technically, you could have done it. I wouldn't have wanted someone like you to have it, though, because you don't want to manage paying your debt. But even still, why are you paying for hers? That's what the question was, not what debt offerings were you given because i knew her options were worse so just kind of between the how much are you taking care of her i mean she pays it over time so you're she's in debt to you technically yeah do you help her in other ways um i mean we live together but Does she pay towards rent?

37:17Now, how is this debt payback going? What does it look like? She just stacks it on to what she gives me for rent. Just throws it on. How much? Usually about$100. Usually about$100. So it's not a specific amount to be paid off by a specific amount of time? So working in a restaurant, money varies quite a bit. So it just depends. I don't ask for it. Because you guys don't budget. Okay. How did you rack up the card to begin with? because it wasn't an$800 car thing. You were already basically there. And also, it was Costco, Costco Gas, PayPal Postal, PayPal Postal, Wendy's, Apple Bill, Amazon. There actually wasn't a...

37:58Oh, here it is. There's the auto repair. But everything else as well. And then a Microsoft thing. Yeah, so the... It's kind of a plan fee. The plan fee? Yeah, so plan fee for the card. That's for the computer that I have financed under that card. It's very nice. What are you doing? I have a weakness for technology

38:20what wrecked this card up to begin with I can't remember and I think part of it is because I used to have quite a few and you called yourself knowledgeable about your finances well I used to have quite a few nights out I'm now past nine months sober so congratulations that's actually really good good job but what are you saying so you would spend this four-year nights out is that what you're saying sometimes and i think also i would make bad purchases while drunk what i don't know i don't remember because i was so drunk what about the computer thing um what about it so that when you drunkenly got a computer no that was that was fully sober that was i have a how much was it uh so i had a buddy that worked at apple and he also So like a 500 off credit in addition to the 25 % off.

39:10A very nice 64 gigabyte RAM Mac Studio. What the f*** do you do? I want to give you free money right now. I've partnered with different resources that will literally give you hundreds of dollars the moment you sign up for them. Check out my investing app of choice, Moomoo, where they give you up to 15 free stocks and 8.1 % interest on your uninvested cash when you sign up with my link. Do you want a more traditional savings account? Check out where I keep my emergency fund, SoFi, where they'll give you 4.5 % on your money and up to$300. Would you rather have automated investing? Sign up for Acorns with my link and you'll get$20 right now instead of the usual$5 you'd get from your friend's referral.

39:51You can also sign up for our investing program and get$100 in cash deposited into your MooMoo account. This is the best way to learn what your investing profile looks like and what investing strategies to use based on that. All of this free money is linked in the resources section of the description below. So don't pass up the free money because I'll punch you. I like to convince myself that I'm going to use it for... For? For what? Must be rendering massive 3d files. No, I like to future proof. But what do you do? So I've always wanted to do like video editing, video streaming. Oh video editing, are you f***ing kidding me?

40:27Streaming, you do not need that for streaming. Video editing? Okay, video editing, sure, unless you're like four channels of raw red footage at 8K, you don't need a Mac Studio. But future-proof. Future-proof, that doesn't make sense because by the time you would want to get it, there would be something twice as good out there. By the time you're ready to go. You're not future-proofing. You'll have antiquated technology. It'll still do it well, of course, very well, in fact. But still, you bought the technology for what you want to do when better technology will exist. yeah well also for something that again you're i mean you're trying like 50 different careers drop shipping and all this bullshit we're video editing now what are you video editing what kind of video editing what are we doing what's the plan what's happening not doing anything right now because i don't have time because of the other drops what would you video edit probably games huh i like video games clips from video games um yeah yeah you do not need a max studio

41:25that's literally correct yes get a thousand two hundred dollar pc use premiere pro call it a day adobe's been in some hot water recently so i kind of stick with final cut okay final cut's fine it just forces you to get a more expensive device you'd be okay with uh how much was your computer after all the things after everything uh 2500 relatively close to a macbook pro you'd probably yet but of course it's not mobile and i well i do have a macbook pro from 2018 that's you would have been okay depending on its internals internals are okay it's been slowing down over time it was getting pretty hot is it apple silicon no no it's 2018 so it has intel so yeah i wanted something i wanted something with apple silicon and and then current one is just slowing down discover it I swear everyone on this show has discovered it.

42:16Okay. And here we are. $1 ,465.99. There's still purchases. There's still purchases. We keep doing this. And again, this is borderline at its max. So everything we've looked at is either over the max or at its max. While purchasing. While you're knowledgeable about it. Which actually upsets me more than anything else. Because you actually know what's happening. and borrowing money from the parents. So, this is it. Yeah, it's because, I mean, after paying all of my debts. Is what you say and what you said, except that's not true because we have your spending categories. We know you spent minimum$500 on bullsh**.

42:58And we'll go through the large purchases of$1 ,776 of$77. Well, yeah, but I had to use the credit card to do it because I couldn't. To do what? I couldn't. To do what? To spend. Yes. But if you didn't spend it on bullsh**, you wouldn't have spent it. I don't think that much across them is bullsh**. F*** you. It's right here. We went through it. We put the time into it. What do you mean you think? This isn't a think. It's not an opinion. It's not an opinion. Yeah. You all have to go through the lines and figure out where that was going. PayPal'd out$67. That's in the large purchase category. You zelled out$1 ,180.

43:38Is that rent? one um zelda no it's not because we have housing as a separate category wait how much did i zel out total 1180 transfer to an account externally 125 apple cash out 380 dollars and cash app and out 25 those are the other large things category which made up 1777 dollars i have no idea what great and then on this card even though you made the minimum payment guess what the balance went up because you purchased. Even though it was a small amount, you still purchased. You're mining that with$35.71 of interest. It went to$1 ,465.89 on a credit line of$1 ,500 with a minimum monthly payment of$56 now.

44:22Really just the opposite of any progress, the opposite of any discipline, the opposite of any financial maturity, and it's an Amazon purchase.

44:34Okay. All right. What was it? The Amazon purchase? Oh, yeah. I think it was a pen, like a writing utensil pen. A KFC tale in the pursuit of flavor. The holidays were tricky for the Colonel. He loved people, but he also loved peace and quiet. So he cooked up KFC's$4.99 chicken pot pie. Warm, flaky, with savory sauce and vegetables. It's a tender, chicken-filled excuse to get some time to yourself and step away from decking the halls, whatever that means. The Colonel lived, so we could chicken. KFC's Chicken Pot Pie, the best$4.99 you'll spend this season. Prices and participation may vary while supplies last.

45:14Taxes, tips, and fees extra. A singular pen for$21? Oh, it's$21? Uh... No, no, I don't know. Pull up your Amazon. Alright, let's see here. Watermelon Fountain Pen Ink Intense? Oh, for the pen. Your debt's only getting worse. $44 on this pen and then$9 for the ink while our debt's only going up and borrowing money from our parents and have no idea what our career is because we're a mess right now. What the world are you living in? You're not living in the real world. That was after I got the second job and I went back. I don't give a shit. Your debt's only going up. Don't try to excuse it. I don't have to borrow from my parents anymore.

45:55I know you keep saying that, but guess what? You did and your debt's going up. Debt's going up. Yeah. You got some batteries. That's fine. more ink you got ink twice you little ink guy and that black ink refills are you pen obsessed what are you for work here let me make your day here's a pen congratulations best thing you've ever had you got an industrial uh flashlight oh my gosh refill for pens What? You refill for Parker pens! What are you doing? You're obsessed! This is crazy! I use them for work. You go through four pens a day? Sometimes the ink is bad and they dry up. Oh my f - What is this?

46:43Automatic - If this is pen related, I'm going to freak out. What is this? Brush kit? Is this a brush or pen? No, that was for part of the car repair. rather than having them charge me$100 for... Acoustic sound panels? You don't need that. Need. Think of the word need. Well, that was because I was having issues with noise. You're wearing the things that you... Those you just bought. Indeed. Little spike earrings. Those little weapons. Protein powder. Great. Gotta grow all that muscle for all the intense pen writing. that was spread over months it's not like a ton of crazy purchases in one month this is last month what are you on about

47:35I write a ton I fill these books up so quick we refill it like once every six months what type of pen is that I might buy one a nice pen no don't you don't have money to especially because what is this car what is this auto loan what is your car um oh my car is a 2019 uh hyundai tucson um i not the best interest rate but it's 5.66 so that's not it but if you calculate in depreciation and everything it's probably not keeping up with the market anyway where the money could be no i i just looked at it the other day and saw that for the first time since i got it i'm upside down what you see what was it was the number i think it was like nine and a half or ten huh i think so huh oh oh oh really i think so you're down by a third because you owe fifteen thousand six hundred seventy six dollars and thirty seven cents yeah five point six six percent interest rate four hundred eleven dollar minimum payment and i do agree that the minimum payments are stacking don't get me wrong on that i just disagree that they are you you have nothing left out to them i really don't that minimum is actually like 490 but um it shows less because i always pay 500 and then after many months of that stacking up it gotcha ask for less again you're not doing any debt payoff strategy that is actually proven to be beneficial we gotta reorganize this thing it's not making progress venmo this is this is this has started to come on the show recently a venmo credit card i don't know when they came out with this but you know anyone that's addicted to debt they've started to get it that one i might i think i might cancel because i actually just saw cancel them all you don't know how to use debt that one's raising the interest rate too so two uh 32 49 oh my gosh yeah on my latest statement it says finally making money 1 409.39 minimum you're over the limit again you don't have a debt except for your car you don't have a debt that you're not over at the limit all for pens and ink that's insane i don't understand the point of this life that you're living it's like you don't care about your future and then your retirement like you start to contribute to it then you borrow against it yeah yeah the retirement one's frustrating too because um used to have a really solid match it's it started from 100 investing schedule day one but then it's part of like the budget cuts that they just stopped offering for 1k well your car We're actually getting a higher private market value, but you know the condition better than us.

50:17So you put in your VIN and condition and everything, and you got about$10 ,000 is what you got. I might be wrong. I didn't print it out. We're getting about$13 ,000. Okay. Oh, and we put in all the information that you had. Not dramatically underwater. Still underwater. Okay, you owe$50 a month on this Venmo card. Again, you're over the limit of purchases. I swear to you. I swear to you. It's because I end up in these positions where I only have available money on one card. Yeah, but why would you spend it on the one card? Because then I have nothing to spend. You dumb little bearded guy. Listen, and I'm trying.

50:55I'm catching up. But guess what? I'm trying. I'm just trying to process what I'm trying to say before I say it, so I just throw out words. We've already documented that you spend minimum$500 on bullshit. And then we had all those transfers out of$1 ,777. What you are saying, that statement that you said multiple times is objectively incorrect. Plus, you're putting a little extra on everything, which is not an accurate debt payoff strategy, which means you still do have money. You do not have to spend on a car. Duh. But then how do I pay my electric and how do I pay? You, you absolute, you have the, what the are you talking about?

51:36How did what I just say not make sense? I'm going to lose my mind. I'm going to lose my mind. I'm going to make her break up with you right now. I'm going to lose my mind. Are you serious? Do you seriously not comprehend what I've said? You put a little extra towards these debts that is not benefiting you because a little, but it's not actually making progress in a substantial way. That money could pay your energy bills instead of putting more money on the cars Which actually just makes them go above the limit all the extra money you put towards them by the way are completely negated because you spend on them anyway So it doesn't really make any sense.

52:14There's really no purpose You're just offsetting it. So you're not even putting anything extra to the credit cards anyway But then it doesn't even matter because one thousand seven hundred seventy seven dollars went out We don't know where that went though with all their accounts that went and selling them went and then guess what? Five hundred dollars going out to eat another bullsh** so i don't know what you're talking about how can you keep saying that if mathematically it is proven right here take a look that that is incorrect oh that is gonna ruin my day do not say what you just said for like the fifth time this episode Because it is beyond objectively incorrect.

52:56So only pay the minimums on most. Oh, good. Can you turn her mic on real quick? Do you understand what, do you comprehend what I said?

53:08No. Oh, me. Oh my gosh. I'm done. Turn her mic off. Oh my gosh. Where am I going wrong with my communication other than being loud? How, how, how? My producers are typing to me to break it down. but like, what am I, what is wrong? What is wrong? What am I doing? Okay, can I have the whiteboard? Maybe I need to draw this. Okay.

53:44Here is the damn credit card balance that you have, okay? The balance. Here is your minimum monthly payment. A little line up here. A little line. Okay? Now, guess what? You make a little progress, a little extra progress. You add an extra line. But it doesn't matter because then you spend this much. So you've completely offset. You've completely offset. In fact, you actually spend more because your balances have only gone up. Only gone up. You're above the limit because then you add interest on top of that. Okay, wonderful. But not only that, guess what? Oh, you need to pay the little electricity bill over here that's this?

54:27Well, at the same time, you spend the same damn amount on going out to eat and other bullsh**. So no, this first little sliver right here, this first sliver is not what is preventing you from paying your damn bills. It is the more balance that you're putting on there. It is the more interest that is accruing on there because you are putting a higher balance on there. It is your bullsh** spending. It is, for example, just a light little example. It is in every best case possible. F*** you.

55:05Does that make more sense? Yeah. Does the drawing get us there? Yeah. It's not the electric bill, it's the bullsh**. kind of it's there was more than that but okay if you walk away with that that's a that's a start and you're the one who's understands finances at all like you're the one that self-proclaimed i'm great with this stuff i didn't say great oh come on but you know what you were thinking oh great we're getting mcdonald's and audible on here go to the library i gave a generous four yeah but you you you talked up to producers are you i know my numbers i'm all good of my money i'm i'm i'm i'm i'm i'm i'm i'm i know you know i'm oh i know my budget i know everything that is happening everything is all good i'm this mathematically perfect person who knows everything about everything i don't know about the extra two thousand in spending that it really doesn't add up to me and now i'm itching i have to pee there is something in my nose and my bladder's like four hundred fifty three dollars in a checking account robin hood you're putting money in Robin Hood?

56:12And then I pulled it up. Yeah, later on when the finances got tough and I wasn't finding a job. Okay. I hope that's the only I hope that's not the only pull out you're doing because you guys can not afford a kid right now. Zell Zell Ash, capital, Ash, cash Apple. Oh my god. I'm losing it. Too many of these. Zell. Oh. Apple Cash? Well, no. So all of the Apple Cash things, Apple Cash is actually payments to the Apple Card. That's what those are because I first put it into Apple Cash because it processes. Well, in the spreadsheet, Apple Cash wasn't the big one. It was all the Zells. So it was all out$25, Chick-fil-A.

56:55Affirm. We're affirming. So there's more. So there's more. There's hidden more. We're affirming. What are you affirming? What possible world are you affirming? That was for my level three certification for armed security. I didn't have that's your full time job, right? Yeah. Yeah. And then I figure just bumping the credentials for better. What are you securing? Apartments. And it's I mean, the job is just observing reports. You just like spin in circles and hope those like go out and just like cut people. That's the goal.

57:28Chick-fil-A. No, I already did that. Apple Cash, Apple Cash, Zelle, Zelle, Apple Cash, Apple Cash, Taco Bell, Zelle, Cash App, Hobby Lobby. We got to be doing arts and crafts. and we can't afford bills. That was for a date. Went inside. How long have you guys been dating? A year. Okay, she'll be fine. QT, you went inside, you got a little drink or something. Taquitos. Isn't it so funny when our entire financial life is collapsing and where there's no chance of retirement and everything is f***ed? Isn't it humorous, guys? You got to cope somehow. Nope, you got to actually make progress and actually do something about it instead.

58:07$177 in savings. Wow. millionaire in no time i don't even have access to your robin hood do you have money in there anymore nope pulled it all out yeah uh once i i think i was struggling with those minimum payments so i pulled that out to pay all the minimum this is what you specifically have in your application i don't have too much random spending i don't go crazy on gas or food that's not i mean they're usually spread out but you don't have any money all your card balances are at max or above max a dollar honestly i'm going out to eat for you is would be crazy you don't understand how what a dollar for going out yes all your things are above the balances and you say you can't pay your damn utilities because of your minimum payments are you kidding me in what world can you go out to eat in that situation in what world and taking in front of your parents in what world do you get to be spoiled what entitlement do you have it's what keeps me keeps me working hard is is just those small doesn't no it doesn't because you know what you're right that's the first correct thing you said it is what keeps you working hard because you have no other choice but to work hard because it's keeping you in the position where your credit cards are only maxed out so you have to work hard you don't get to take it easy because of those choices so you are f***ing right you're correct now how much did you apply for on a personal loan did you get approved is this a thing that's already happening already are you already destroying yourself it's sitting in my account because how much 13 for so my plan i could i could have connected you with the people uh our partners in our resources section the relief app people i could have got you connected with them for like debt negotiations it's more extreme cases it's not for everyone but i could have got you connected with them but instead you're doing a personal loan yeah i've considered those debt negotiating some are bad some are good it's just like anything out there but again with you you take care of this with a personal loan and guess what without changing your behavior balances just go up that's what keeps me working hard if that's what you say after all of this then you're not going to make any progress if you pay off your debt with a personal loan that's what keeps me working hard As a full-time creator, I can tell you creating engaging videos takes a lot of time and effort.

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1:02:15Scan the QR code on screen or check out the link in the description below and use my code Caleb Hammer 50 to get two times the number of video generation credits in your first month. Yeah. So the plan with that was pay off the Best Buy one, which I know what your plan was. You already said it. It's as obvious that it's not going to go the way you're planning. I've seen people on this show the way return. No, actually. Okay. Two options, two options. Okay. I will give you two options. You can do the personal loan, but close the other cards because you cannot be trusted to have access to that money.

1:02:50Okay. That's option one or option to pay off the personal loan with that money now and just close it and call it done. But you cannot be trusted with that money in your account from the personal loan. And you cannot be a trusted with the infinite money cards on the cards. You've proven that because you have no availability available spending on any card more than a couple dollars. You've proven you can't be trusted with it. In any way. So those are the two options. Are you willing to commit to one of those two options? Are you willing to commit to any of those two options? Or is ink more important?

1:03:25Ink's not more important. Are you willing to commit to one of those two options? Yes, I could close some cards. The ones that you transfer over, no matter what. No matter the f*** what. Okay. Look, look at your, just look at your history. we can get you to be a credit card person we've had people on the show that have come on on the follow-ups channel and they've become credit card people it's great we can get you there you're not this would only create a more dangerous situation and more debt for you to pay off yeah okay yeah valid concern so what cards does that pay off so you're putting what towards it i wanted to start with the highest ones which are best so best buy is gone venmo venmo's fully okay so Best Buy and Venmo and then after that I was going to start hitting the Discover no no no what does the personal loan pay off?

1:04:14Fully those two and then the majority of Discover majority of Discover it brings it down to what? I think so I got paid on Friday and with that combined should be zero okay okay now you're it's$13 ,000? what is the minimum payment? $340 ,000 okay So as we do your budget, we will now use that. So that's the option we're doing. What hits your account on a monthly basis? A little over four. What's a little over four?

1:04:48With the way that they're switching up. Should be$4 ,300. Okay. $4 ,300. Your minimum fee payment debts. With everything readjusted now with a personal loan, Your new debt payments total will be$1 ,301.96. What's your rent? Your portion. Including utilities or no? Well, just rent first. Sure, include utilities. Sure. Total thing. I believe it's$1 ,300 now. Your portion? Yeah, so our place is... Oh, good downgrade. Yeah, she has suggested the same. Dude, you're on f***ing Round Rock. You do not need to be in a place this much. It's a nice place. Clara, what's your new rent? $1 ,600. Dude,$1 ,600.

1:05:39Her place is nice. Is that single bed or double? Double. Yeah. Yeah, that's... This is f***ing insane. When is your lease up? In January 18th. Downgrade. Downgrade. Downgrade. So$1 ,300 with utilities is your half? With utilities, yeah. Is that including internet? Yeah. Okay. Downgrade. My gosh. Okay. Your portion of the phone bill. $250. Oh, good. Please pay that off and switch to helium for 20 bucks a month. Please. That's$240. What is it? Is it? You're not even wearing an Apple watch. What is it? I didn't want to wear an Apple watch because I get distracted, but I have the Ultra. I have an iPad.

1:06:28I have an iPad Pro. i have the galaxy s20 ipad pro macbook pro and macbook studio are you kidding me it's pretty nice a tech is my weakness that number it is mine too but you know you don't use it you don't use the ipad well i use ipad all the time for everything really i'm entertained you don't use your macbook um the macbook i sell well no i use it when i'm on the go because my mac studio since it's a desktop use your ipad choose one sell the other issue is ipad os is kind of compared to my... Cool. Sell your iPad.

1:07:03Buddy, make sacrifices. It's financed. How do I... And then the financing requires the service on it, so I'd probably be upside down and then still be stuck paying the service. Financing requires the service on it. Call them. See what you can do. See if you can trade in and get rid of it. They might take a trade in. We need a lower... The$240 is insane. I mean, that's just insane. How much on Vroom Vroom Gas Gas? guess um maybe 150 car insurance uh 200 and that's including renter's insurance i pay them bundled tp fund hundred dollars you're allowed to contribute 300 to the grocery pub you guys live together and so yeah you do 300 that's what you can do follow the meal plan uh adjust it to your needs and the budgeting program any ongoing health care expenses this is co-pays this is Prescriptions?

1:07:49Currently, no. Okay. Gym? No, it's in the apartments. Yeah. Pets? Yeah. Yes. Pet food? Your portion? Let's say$760 a month, maybe. Okay. What are they? I have a Husky, and she has a great Pyrenees. Okay. I only care about yours when we're talking about your money. So a Husky. Cool. I'm doing$35 for pet insurance. Get it. It'll save you money. Some disagree with it, but it's literally saved me thousands of dollars. Anything else that needs to be in your budget? You kill it with rent, man. You destroy this whole thing. But go ahead. Anything else that needs to be in your budget? And she makes less than you at a restaurant?

1:08:42Yeah, usually. How are your finances? They're okay. Are they worse than his or better? They're worse. No. That's not honest. You want to come on the show next week? No. No. $3 ,782 is what's needed to survive on a monthly basis.

1:09:04You have an extra$518. Conveniently, how much was spent on bullsh -? Hey, like, net even. Oh, no, you spent more than that, remember? $2 ,000 more. But just bullsh - alone is what pushes you to the edge. But that extra$500 a month, boom, you start making, 401k loan is paid off immediately in the first month. Set the rest aside. You can't get a full one-month emergency fund. It will take us six months. Well, didn't you say the 401k should wait until after the cards? We're snowballing, so you stay motivated because this is going to be a long process. Obviously, work your best to increase your income through getting a job that you actually want, a sales job at a place that you want.

1:09:45You're already working 70 hours a week, right? So you need to get that 40 hours a week, 50 hours a week somewhere, and then get an extra job. So we need to boost this to about$5 ,000 because that, all of a sudden, if you have an extra$1 ,000 instead of$500 that you can throw your debt, this is going to accelerate it. Because let's see. If we're talking a six-month emergency fund with what your debt situation, minimum payments after that would be, six-month emergency fund, probably we're going to call it$17 ,000. Okay. Plus$1 ,031. Plus$1 ,803. Plus$244. Wait, your 401k loan, was that paid off in the personal loan?

1:10:20They're not paid off. No, in the personal loan? No, no, I didn't. It was the Freedom Best Buy. No, it was Best Buy. Sorry, never mind. I just crossed that out. I confused myself. Okay, plus$5 ,000 plus$5 ,390 for the Freedom. Oh my gosh, plus$7 ,306 for the Costco, plus the car at$15 ,676, plus the$13 ,400 personal loan. So that brings us to you need to get a total of$62 ,330. Now, that takes the progress you're able to make, not taking into account any interest, but also not taking into account the extra payments you put towards it once you pay off a debt. 120 months yeah that's 10 years like may as well go bankrupt at that point because it would be on your record for 10 years and it might be less stressful so um so what's the solution to that because this cuts you down to bare bones one you downgrade i need your portion of rent to be maxed out after utilities at 800 bucks starting at the beginning of the year boom that doubles the money you can throw towards the debt that turns it from 10 years to five years like is that not substantial that's crazy that's life-changing now what do we go from there bringing an extra 500 to 500 a month and extra income after taxes through getting that different job uh and then even working a second job on top of that and i think you'll do better than that i i do but let's just say you do that actually let's just say you add it by an extra thousand so now we have an extra two thousand to throw okay cool now it's down from 10 years to two and a half years to have a fully funded emergency fund in literally no debt.

1:12:11So that's, I think what we have to do. You need to go get that job, finally get a full-time job once more in the sales world, which I think you can, you know, add that certification plus experience, plus a good resume, plus good interview skills. Okay. Work on all that. Always easier said than done. Boom. Get that plus a part-time job on top of that. And maybe the security you can do part-time who knows. So boom, take that, try to bring in$5 ,300 a month. You do that plus downgrading your rent to your portion being no more than$800 a month in rent after utilities. You do that, you're out of debt and you have a fully funded emergency fund in two and a half years.

1:12:51In two and a half years, it's nothing. It goes by in a blink of an eye. So that's what I would do. That's what I would do. You could go the lazy and also stressful and also expensive route of bankruptcy. I wouldn't, but if you want to keep your life flat, that's what I would do. Or you can continue doing what you're doing and you'll be in debt with no retirement by 65. That's where you're headed with the way you're doing it, with balances only going up and borrowing against our 401k to pay off other debt. That's where you're going. So that's no longer an option if you're going to be a big boy, and I highly recommend it.

1:13:26Okay? Yeah, good plan. What do you think? I need your true honest thoughts on that that's a lot and this is going to take work this is not an easy thing you put yourself in a mess it takes a bit to dig up got to build the ladder my dude so what is it it's probably easier than struggling the way I have been so I could probably do that could do that will you do it do you think you will we have the follow up channel in a year from now am I going to see almost half of this debt paid off half of it in a year and a one month emergency fund and those cards closed that we talked about yeah I can do that okay I hope so we'll see you on the follow up channel then let's get your hammer financial score now and then we'll get you a hammer financial score in a year see the progress that you've made spending a budget you overspend so it's a 0 out of 10 automatically you don't have collections but your debt is really bad plus a 401k loan can't give you any better than a 1 out of 10.

1:14:27Again, you thought you were 4 out of 10. Okay. Emergency fund, the savings was nothing. 0 out of 10 was like 100 bucks. It was nothing. Retirement, you have a 401k loan, though it is about a fourth of your total equity position there, a third. Still not good. Hate that you're doing that. And for your age, oh, 25, can't give you any better than a 2 out of 10 for that. Real estate, not a part of the conversation yet. 0 out of 10, especially since you mentioned real at the beginning uh-uh so i mentioned real estate what yeah you're like i needed to get a house oh yeah hammer financial score rounded up barely you barely made the threshold we're rounded up one out of ten so make sure to check out all the resources linked in the description below we're gonna bring your girlfriend in on camera for the post show we're gonna talk about some extra drama some things going on bringing the producers who know everything about your life that I don't know.

1:15:21And it's going to be a good conversation. So make sure to stick around for the post show. You can join that link in the description below and get the budgeting and investing program for 15 % off bundled together. See you in the post show. Today on the Financial Audit Post Show. Did you know his situation is as we have discovered today? No. What did you think it was? I thought it was a lot better. I was going to have him help me. That's how I'm... Oh, uh-uh. But I didn't know about like that he was over limit. He gets on to me. so it's what is your guys's future together to watch the financial audit post show click the join button below