He's So F*cked (I brought in his mom) | Financial Audit

24:03Hey, give me this plate. I got my go. You eat. You eat, kid. You eat. Right? Like that, but imagine woman version. Right, but. That's what they do. That's not a red flag. I don't know. It goes pretty deep. Well, she probably takes you in too much. I mean, she makes me pretty big plates. I'm a big boy. Are you in? Yep. You're in. I'm in.

24:31That's right. 25 minutes into financial audit, and this is the first time you've been able to log into your own accounts. Correct. All right. Making moves here. Proud of you. Thanks. But I will say this, unfortunately. I was a little cheeky. I was a little cheeky working with my cheeky boy, Colton, because he's a cheeky boy too. So we did this once with a couple, and I'm sorry because it's probably going to create a little bit of drama in your life, but yeah, even though you applied behind her back and you think she doesn't know where she is, We ended up contacting her outside of this before you guys came.

25:18Came up with a secret little plan. And we actually put her in a room near us with a little TV set up. And she's been watching this live. And, yeah, look at that face of terror and fear. And she's been hearing. And I'm going to bring her in right now. And we're going to talk about how weird this all is. and she's heard everything you said. I apologize for that. Good luck, big guy. Oh, here she is. Whoa, she looks great for her age. I can't believe you came here without telling me. Well, you weren't supposed to know. This is... These guys told me. This is wild. Welcome, welcome. Okay, you've heard a lot of things there.

26:07Yeah. Sorry. Don't let that happen again. Don't let that happen again? Okay, and the follow-up, I'll make sure. Okay. What do you think of all that? That was some wild s***. Yeah, yeah. It's just, I don't know how it's happened. It just kind of happened and, you know, I don't know. So, I mean, he accused pretty heavily of he pushes for it. He does push for it. My biggest problem is I don't know how to transition. Extra value meals are back. That means 10 tender juicy McNuggets and medium fries and a drink are just$8. Only at McDonald's. For limited time only, prices and participation may vary.

26:54Prices may be higher in Hawaii, Alaska, and California and for delivery. From me paying his bills with his money to just it going over and where do I stop paying and he starts paying. And I know it's stupid, but I just... What's the confusion on it? I don't know. And he's not$50 ,000 in debt. No, he's not. That was confusing that you still didn't know even after you looked. I can't believe you think that you're$50 ,000 in debt. 27. Oh. 27 with his student loan. Yeah, it's debt. Yeah, okay. And his car. I don't know where I got that number from. I don't have that in student loans. I have that car in credit cards.

27:32If there's student loans, we didn't know that. Yeah. Well, great. So he, all right. But no, if the three or if what was it? Six,$900 that he gives you on a monthly basis. If that is no longer given to you and he is logs into the account and sets up auto pay to his accounts, you wouldn't have to worry. I mean, it would be as simple as that, would it not? I know, but this just isn't me. This got to take some responsibility for it too. He likes it that I do it this way because it's easier for him. And I don't care what he says, but. That's true. It is easier. He's just always told me, you know, when we first started on this, just tell me what I need to pay you.

28:16And you pay me bills. The last couple of years, yeah, he's been asking to, you know. Well, shouldn't that sign that, you know. Transition it over to him. Why have we pushed back for the last two years, though? Because let's say we didn't transfer anything. Why not the login? Why can't he have the login? I've given him his logins. No, you haven't. Well, I haven't given him his logins to his credit cards. What logins has he had? He doesn't even have his credit cards. He gets one credit card. He gets one credit card. Because he's not good with credit cards. Wait, wait, wait. You only allow him to have one of his credit cards?

28:50Yes. He has five. Oh, he's got... He has more than five. But the other five have zero balances. that's why you probably don't have those because I keep opening up more and putting in this 0 % you're opening up cards yes you're opening up cards in his name I transfer his balances so yes in my name not funny he'll use his credit cards for gas and food and stupid stuff that you shouldn't be using a credit card food Yeah, without my knowledge. Yeah, I do. It sounds worse than it is. No, I want to be very clear. He's not going to do this. And so it's probably fine. But he could literally sue you for that.

29:48He's not going to. So I don't think that's where we are. We don't have that dynamic. No, we have a good relationship. That is very technically against the law. Yeah, I know. Are you broadcasting this? No, there's not a cop sitting in another room. Like the FBI or something. No, no, no. IRS sitting by. Yeah, right? Yeah. No, no, no, because again, that would be him taking some action. And he doesn't do his taxes either, and I've tried to get him. I did try to get you to sit down with me once. When? Like a couple years ago to help go through doing your taxes. I don't remember that. Yeah, I did. He don't want anything to do with any of that.

30:29I mean, a little bit. That's why I've been asking you for the passwords. I need to get... It's embarrassing. I really don't want to do it anymore myself. I'm just over it. I've got enough of my own bills to take care of and my business bills and my household. I don't need his. So give me them. I know I need to. Are you not afraid of him not being able to survive without you at all? Then why aren't you pushing him? I am. Because, listen, if you're not, you say you give login, he says you don't, and then you say you don't for credit cards anyway. Listen, and obviously we hope you don't tragically pass away tomorrow.

31:12What the f*** is he going to do? I know. So why aren't you pushing for that then? I think about that all the time. But if you think about that all the time, you would be the one pushing him, not him pushing you, right? Because he probably doesn't even realize that your bills are probably a little bit more than$600. Well, he wouldn't if you don't. Are you subsidizing? No. What happened was when my mom moved out or moved in with me and I moved him to my mom's mobile home, my mom felt bad for kind of forcing him to leave. So she kept paying the lot rent. So I don't think he's realized that he's never paid the lot rent there.

31:45Big guy, you were complaining to me about the rent. No, I said it was good. And by the way, I do pay more on his credit cards than minimum payments. I don't just do that. How's it going up? This makes no sense. Because he uses them, and then he went to UK, and then... He went to the UK! Yeah. Yeah. What's the zelling coming in of 1800? He had about 1800s of zellos into his account. Do you know? For the US bank? I might have to keep you here, because I... Like, the whole conversation, because you might have to be the one to answer the questions. Zell coming to his bank account? He had zells in of 1800 total.

32:22In my checking account? I don't know, dude. I'm just saying total across the month,$1 ,800 came in. I'll put$500 direct deposit into a savings account and discover. Then you sell over. So it's not new income. This is just transfers. So that doesn't count. So I didn't even know about that. And by the way, I have no access to his personal bank account at all. You drew that boundary. Yes. I do not have access. Did you try to get access? No. Yeah, I was going to say. No, I don't. There was no real boundary made. but no, I've never had access to his bank account. Nor do I want access to his bank account.

32:56Well, he told Colton you're worse off financially than he is. Yeah, I am. Ladies and gentlemen of Financial Audit, this is one of the most exciting moments in this channel's history. You know, I've been working on building all these educational tools, our budgeting app, all this crazy stuff over this past year, because that is where my passion is. We finally did it. And now we put it all into one program called Dollar Wise Central. You get the premium version of my budgeting app. You get the cookbook mailed to you and signed by me. You get to learn about debt, investing, budgeting, real estate, basic beginner stuff, and finance all the way to the advanced stuff.

33:33Collaborated by experts with the lowest refund rate in the industry for a reason. And guess what? If you are struggling or you want to learn more or you want to change your life in any way whatsoever, like literal tens of thousands of people have done with our programs, go to dollarwise.com. Click that link below. Your life will change. It'll be incredible. And I am here for you with an incredible support team that you can reach at any time. This is a no brainer. Dollarwise.com. Let's go. Then why would you be the one managing his finances? Horrible with money. I am. I'll be the first to admit that I am horrible with money.

34:13Then why is she the one doing it? Can someone explain this to me? Yeah. Can someone explain this to me? Because this is blowing my mind. I can't explain it. He's bad with credit cards. He took a credit card to a strip code and maxed it out. But you said you were worse. When he was 21. I was 21. And he stole my car to go there. I met a girl. Yes. I didn't know she was a girl before I met her. So then I had to go hang out with her. Yeah. And I decided I'll try every one of the beers there. get a bottle of champagne in a private room. Yeah, boy. You guys are wild. I don't even what the f*** is going on right now.

34:56Then I got an apartment with her and broke the lease. No, you did not with the f***er? Did you know this? That's the first time he moved out when he was 18. What the f***? Yeah. He paid his bills at that time, though. I didn't have anything to do with your bills then You found her and moved in with her Yeah I was very upset Was she at least hot? Oh no Guy She was okay I didn't like her though She did pills and stuff She was Yeah I don't know Why were you latching yourself to her? And she had a one year old What were you doing? I don't know Fell in love with her I guess A drug addicted one year old.

35:44Well, I didn't know she was drug addicted until halfway through the relationship. Yeah. Really? You were living with her and you did not realize she was addicted to drugs? I mean, it came up and then we went through rehab. We went through rehab? She went through rehab. I know, but look how you're saying we. Like you put her through rehab. No, because I went with her. How long were you with her? I don't know, like a year. Thank God. I was so happy. And he finally left her and she threatened to commit. If you didn't come back. Well, that's typical girl behavior. Well, not really. Actually, that's not typical.

36:19Colton, what have you brought me? This is crazy. Can we see a picture? We're visceral learners here on Financial Out. No, she blocked me on everything. She blocked you. Yeah. Cool. Yeah. After she went through rehab, she relapsed. What was she on? I didn't even know that. The big H. Yeah. I didn't know she was on there. So I caught her one day in the middle of the night trying to do it. In bed? With you? I mean, she was in the bathroom. But I caught her. I didn't know about that. I laid out two lines of it and then said, let me finish. Let me finish. And I said, the only way you're going to do it is if I do it with you.

37:04Right? So, and she said, okay, let's do it. Oh!

37:11Oh, no. And then I left and packed my bags and left that night. I was going to say, he doesn't do drugs. Yeah, I don't even drink. He doesn't drink. I smoke. That's about it. Yeah.

37:25That's legal. So is drinking. Right? If this is what we're learning about in the main show, I'm concerned about what we're going to learn about in the post-show. Sick. Oh, boy. Okay. Well, this has been fun. How much of this did you know? Oh, yeah, a lot more to go. This is blowing his mind. This is crazy. I hope nobody ever sees this. Yeah, definitely not a top-ranking show online. The best membership on YouTube. That is true. Yeah. It's okay. What the f*** is happening in Youngstown? Yeah, so you changed your... is that why you wanted those codes you change your password yeah i need to get myself into these accounts okay okay so wow um what to ask i'm just i'm a little confused still on honestly um we need to get into these finance because this has been going for a while but this is this is laying the foundation in a very i kind of understand what is going on a little more now Yeah.

38:36But you are terrified that he is not set up yet. Again, he's the one that pushes you for the finances and you – that dynamic is not meshing. Can you explain that? It's got to be. You know why? Because to be fair, he is way better with money than I am. Then why is he the one pushing you? Why aren't you pushing him? I don't know. Because I can't even believe he has savings. I didn't know that. It's probably more of we'll do it tomorrow and tomorrow never comes. That's probably me. Yeah, but he says he's pushed you after you get back from the bar. What do you think of that accusation? I don't like the drinking thing.

39:17Because that's when we fight about it is when I'm drinking. That's the only time I can really talk to you, though, because I got to sleep after work. And then by the time I wake up. You talk to me when I'm drinking. You know what that's going to lead to. I mean Yeah okay I don't know Cause then it just turns into a fight Well that's the thing why does it have to be a fight to get a password I know I know Like I understand the endless sometimes push tomorrow I'm a procrastinator sure But if he's pushing you in the moment Sure but if he's pushing you in the moment To get the password why not just give the password Yeah Cause that's not a procrastinate She doesn't even know the password She has to look it up I don't know it off the top of my head.

40:01Well, it's a ran down. Yeah, I haven't ran down. But it's at home. You said you're having the conversation at home, so that's not a concern. That's a step up. But what I wanted to start with and what I gave him his passwords for was his lot rent, his utilities, his car payment, his auto insurance, everything but credit cards. So I thought, well, let's start there and get those moved over and then see where we're at. I'm afraid to give him his credit cards because he's not real responsible. You don't have to give me the credit cards themselves. And I've actually. He doesn't want credit, but. Oh, I don't really.

40:36I'll need credit for a house, but. If he has a credit card, he'll use it. What does he want for his life? He wants a house. He wants to buy a house. What else? No. I'd like to see him have more ambition. You know, I'd like to see him hold a job. You know, he's gone through multiple, multiple jobs. And, you know, it's all been like stupid stuff. But, you know, he needs to build a foundation with the company. What do you think about that? I'm not very ambitious. I get off work and just play video games, smoke. Yeah. But I also feel like, you know, I get my paycheck. I pay my bills. I put a little bit in savings.

41:21Well, she's paying some of your bills. Well, I don't know. Of course not. No. and the ambition you know getting a house that's all she knows well I feel like that's a long term goal because I really don't want to do you know he wants to be an astronaut I don't think he wants to be an astronaut more than he's just maybe like an astronomer he's really interested in space more of an astronomer I mean it would be obviously cool to be an astronaut obviously but I don't think that was astronomy that's what I was saying like astronomers, they don't really make that much money. No. And I don't want to go into more debt for something like that.

42:01You probably still make more than you do right now. But you make an okay living for Youngstown, you're probably not going to get an astronomy job in Youngstown. You're going to be working for a university. Actually, Youngstown State University has a really good class. I applied. I got denied. Why'd you get denied? Probably because I didn't provide enough financial records or something. No, I didn't even know about that. I don't know. I applied and they just sent me an email saying I've been declined. If he doesn't have any independence, do you want him to find a lovely little lady? You have a wife?

42:32You want a grandbaby? I want grandkids. Yes. That is impossible in this situation. Who would date? Listen. I know. Who would date just the financial structure that we have discussed? Who would get involved in that? Well, he's cut. I mean, his credit score is great. It's more than just that. someone's getting in and they know that their future mother-in-law is the one controlling his finances? Well, that'd probably be a big secret if I got into a relationship. Yeah, but something you would have to tell them at some point. Eventually it would come out. Yeah. Yeah. Eventually. This has got to change, obviously.

43:06I mean, the end point. Less when addicted, baby mamas. Preferably. Yeah. When was your last long term? Probably three or four years ago. Okay. Yeah. What went wrong? Apparently, we spent too much time together. She broke up. I lived with her. I've known her since as long as I've been in school. And then we started dating after school. And then we hung out all the time. I always spent the night. And then she ended up getting me a dresser to put all my clothes in or whatever. And a week later, she broke up with me because we spent too much time together. In one week? No, no. Just a week after she got the dresser.

43:48Okay, listen, if you want that ultimate goal, of which I support, you got to give him independence. This is like the first thing that happens when we land in Youngstown, okay? Right. It is full independence. Him, if he fails, let him fail. Right. That is his to learn so we can grow from it. But unfortunately, his first failings that he's supposed to be doing from 18 to 24 are going to be done from 32 to 38. Right. I know that. And I know I need to let him do it on his own so he knows.

44:50Is there a part of just losing your boy here? Maybe. I mean, I know you lost your husband tragically, and that's very sad, and I'm very sorry about that when he was 18, and he's your only kid. Yeah, and he was 16, and his father really wasn't in his life much before that anyway. Okay. He's your only boy. I understand you want him to baby and latch on, but the best thing for his future is him being independent and being able to make these mistakes and learn and grow. Right. Yeah. I know. I'm going to go three, two, one, go on go. I want you guys to give me a score at the exact same time. This score is his finances.

45:27So what you think his finances are and what you think your finances are. Okay. I'll explain it. The score is zero to 10, zero being the worst finances you can imagine, 10 being the absolute best finances you can imagine. Okay. Okay. So again, it'll be a countdown from three and I'll point and I want you guys to say what his financial score is. Zero out of 10. Zero out of 10. Same time. Three, two, one, five. Okay. She thinks it's a little better. She thinks it's middle of the road. You think it's middle of the road? Yeah. Middle of the road. All right. If you want to see where you stand in the world of finances, take the Hammer financial score quiz assessment at calebhammer.com.

46:01It is free. See where you need to improve. See where you're doing well. And if you don't want to be like a guest who ends up on the show, download my favorite budgeting app, DollarWise. Sign up for the free trial. And if you like it, sign up for the annual version to save a lot of money. And if you do, I'll mail you our budget-friendly cookbook that I will personally sign and send directly to your door. Go to dollarwise.com to learn more. Let's jump into these numbers. Honestly, at this point, I thought I was going to ask for you to leave, but the fact is, he's never seen some of these accounts.

46:29I might need you to answer the questions on these accounts. I think I'm going to keep you here. Right. Okay. I'm not even sure I could answer them, especially about the credit cards. Oh, boy. Okay. U.S. Bank. You know, there's a crazy statistic or something that like 60 % of Gen Zers admit bringing their mom to a job interview at some point. Oh, I saw that. That's kind of what we're seeing here. But you're a millennial. I don't think I've ever done that. No. You're kind of doing it right now. Yeah, right. Okay. U.S. Bank. So just tell me from your perspective, what is going on with this card? I couldn't really say much.

47:06It's either that trip to the UK or just bulls**t purges that have been. You wouldn't even know. No. What card have you used? No. What's going on with this card? I don't know. I'd have to look at them each individually and I don't know. Hi, Alyssa in here, Financial Audit. I've curated the exact resources and tools I personally use or would use if I was in certain situations. So take advantage of these offers in the resources section in the description below. The first one, I've moved my investments to Webull. Do the same and transfer to my investing app of choice and you get cash bonuses of$200 all the way up to$30 ,000 depending on initial funding amounts and up to 8.1 % APY on your money and up to 3.5 matches for your IRA.

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48:38Take the assessment at calebhammer.com. You will not regret any of these. Change your life today. What is the balance on that? It is$4 ,390.50 with a minimum monthly payment of$74. How long do you guys think this takes to pay off if you do minimum payments only with no purchases? 10 years. 13 years. What do you think? I would say about that. Nine. Nine. Almost a full decade from now. That's if you don't purchase. That's if you don't do any more bullshit. We know he does the bullshit. Is that one of the percent interest ones I did? Zero interest charge, but let's see. No. What happened? It's got an interest rate on that one.

49:18No, no, it doesn't. What happened? I don't know. Do we not know what happened at all? No one knows what happened. So you give mom the money to pay this. Right. It's late. There was a late fee added of$30. What?

49:37This is why I tell her to put on auto pay. I can't do auto pay. Huh? Huh. Imagine that. I don't know how that happens. I know. I looked at my. I'm usually never late on credit card. Usually. Yeah. Yeah. And then until I look at my car payment history, there's almost 10 late charges. There is no way. There is no way. No. Yeah. There is no way. Uh-uh. A hundred percent. Uh-uh. Do you have credit karma? No. By chance? Well, sure.

50:10I don't have it on my phone. Well, what do you mean? Shouldn't everybody have credit karma? It's just checking your credit score. Whether or not you set up an account, I don't know. Oh. You're not born with a credit card account. I set up an account. That's true. Is that where you get his new cards from? Um, no, not always. Usually just something in the mail that looks like I look for one that's 0 % for like 21 months or something and I'll transfer. When's the last time you think she opened up a credit card for you? I would say the UK trip in March this year. Of this year, you went to the UK this...

50:49When's the last time you opened up a credit card? I would say six months to a year ago. I'm not sure exactly. We don't know? No. Oh, yo, yo, dude. Colton says this is mostly a video game card. Video game card. So there's purchases on this one specifically. I'm sure it was video games before. But again, it is$4 ,390. And it is interest-free right now. Let me see until when. Mostly until April. April. Which is not that long. No. So minimum monthly payments, what are we in? We're in September? I'm going to call it six months until interest starts accruing. And now it's not like you're getting deferred interest, so I don't need you to freak out to pay this off early before anything else.

51:34Right. There's no deferred interest. But even still, if you want to pay it off before interest does accrue, that's still$731 to$0.75 a month. A month, yeah. How are we doing that? I'm opening up another credit card with 0 % interest. Oh, is that the strategy? Seems like a good loophole. Is that the strategy? I don't know. Yeah, until they don't let you. Right. Until you run out. Yeah, you can only, you know, there's quite a few open. Oh, we do have a PDF of your credit card. Do I? I just sent it to you. Yeah, slack it to me 100%. Because I want to see this car thing because it would note on there.

52:07Let's see. There's no missed payments on anything on this credit card, man. This was late. You didn't know it. It's not on there. So how are you knowing this then? I don't know. Because. I don't believe that. I'm logging into my Huntington to show you. Okay, show me. Because that's where my loan is from through Huntington, through my bank account. So you have access to your car loan. Correct. It's not the credit cards. Okay. I don't have access to his car loan. Then, well, hold on. If she doesn't have access to it, why is the late on her? Because I pay it. I do pay it. How do you pay it if you don't have access to it?

52:38I just pay it through my Huntington. I have his account number and I pay through my online bills. That's how I pay all his bills. Oh, okay. See, look. Late charge, late charge, late charge. Oh, three. Late charge, late charge, late charge, late charge, late charge. How much per? 35. Oh. Pretty much a whole car payment. Are you going to give him$280 right now? Because that's what he lost by you being late. Oh, no, we didn't lose it because I probably paid it if I did. No, it's just added to the overall balance. Right, it is. Which gives you the money to pay, right? I'm shocked that that, I just don't believe I ever paid it that late.

53:22I remember one or two times. It's almost every month. It's there. It's there. Like, I don't know what to say. It's there. I don't know. It's there. And there's something in my coffee. So, yeah, that was eye-opening when I sent the statements over for that. That's when you learned about that. Yep. Oh. Did you know about the Leifian here? No, you didn't because I asked you what happened and no one knew about the Leifian. I'm horrible with money. Then why you let him have his money? I know. You know what you should do? If she doesn't let you, just let him, by the way. But if she doesn't, just don't give her the money.

53:53Yeah, right. Don't give him, no, no, because then maybe she won't pay and then it'll f*** you. No, I wouldn't do that. I would never with his bills. Right, shut up. One statement, I've had one statement I don't know what happened there So let me ask you something If I give you money, what do you do with that money? Pay your bills You don't just use the money for something else And then pay it back for when your job or something Your money goes into my account You direct files into my account And I just pay your bills when they're due I used to keep track of it But I don't anymore, it just became too much because I have this sneaking suspicion that I give you the money and then you're feel like you're able to go to the bar and then oh no I have enough of my own money you're self-admitted bad with money so yeah maybe you'll use it as a way to subsidize something then you'll pay it back once you get your money from your job no or something no it's not like that that would make Makes sense why all the late fees would be there.

55:01No, that's just being lazy and stupid or I forgot that the bill was due or whatever. And then that's where auto pay comes in. Yeah, but I can't do auto pay. Why? I never know when I'm going to have money in my account. Whatever. Does he ever borrow money from you? Yeah, occasionally, but he pays me back. But you know what? You did ask me not to make you pay$600 a couple weeks ago. and you never paid that back to me. For what? You said you're going to pay me$700 for the next six months or six paychecks. Or whatever. For what, Drew? My work's been kind of slow lately, so they were letting us go home.

55:41No, you said you're getting at 40. Huh? You said you're getting 40 hours. Yeah, usually, but the last couple weeks. Your pay was higher in the statement I have than you even say you get. But what we're talking about, my job was slow, so we had reduced hours. They let me go home, and I didn't have enough, and I didn't want to take out of my savings. So I asked her if I could not pay that. Not pay it, and then. Is this why we spend almost$550 on going out to eat on a monthly basis and$650 on miscellaneous bulls**t on a monthly basis? I borderline round up probably with everything else combined because we had other large purchases,$30 ,500.

56:20I don't know what that is yet. We're about to find out. You at minimum, minimum, minimum, minimum, minimum, minimum spent$1 ,000 on bulls**t. That does not matter. And you had to borrow$600. Why not cut back on$1 ,000 of bulls**t that you would have? That's what I would personally do. I don't have the money to cut back. Where's your independence? You're still swiping. She's not swiping for you. Yeah. Might be opening them for you. But you're swiping. I just get feeling like I need something. So you need to borrow$600 in order to keep that going. I didn't need to. He didn't need to. And he actually told me if you don't want to do that, it's okay.

56:51I can still give it to you. No, I just, I said, okay. Oh, f***. Like, I had the money. I just didn't want to pull it out of my savings. You know, and I pay for everything when we go anywhere. I pay for all our food and everything. You don't have to tell me because this isn't your financial audit. I know. Are you set for retirement? No. You should not be borrowing money from her, big guy. Yeah. It's as easy as that. Yeah, that one's on me. I was just lazy. That's what I'm saying. I don't know. I want to see him get set for retirement. Yeah, I would too. He has$467 in his 401k. At 32, he is not even remotely close.

57:31No. To being set for retirement. In fact, I mean, the income that came in was$5 ,610. Great. He had more hours that month, sounds like, right? Or maybe it was a triple paycheck month. You know, sometimes those happen if you're bi-weekly instead of bi-monthly or semi-monthly. But how much was spent? What do we think? Both of us. What do we think across all of his accounts? What do you think was spent? This does include interest accruing, by the way, because that is money that is going out. But what do we think? What's spent? What was the outflow of money? The inflow? $5 ,610. What was the outflow?

58:00Probably$65. Okay, so$1 ,000 more than he makes. That's horrendous. That's unacceptable. Yeah. What would you think it is? Less than what he makes. It was$7 ,574.06. $2 ,000 more than he made. Wow. Retirement? That's not even a question at this point. Right. Dying on the factory floor at 90 just to pay your bills. Yeah, I don't want that.

58:58So, you're about to make a trade based on a friend's text. You're still young enough. We're getting there. Compound growth. He lost the best decade of his life for compound growth in the overall market. That shit, it takes a while to get that compound growth going. He has delayed this by a decade minimum now. Decade minimum. It's even worse now than I'm 30. 32. Because you'd be starting this at 22 outside of college. Right, but you get much better compound growth at 20 to 30 than 30 to 40. Yes, there's more time in the market. The longer you have, the better. And it's gone. So young enough, no, not really.

59:35I mean, the best time to start is always now, but he's lost the best decade already. That's gone. There's nothing he can do about it. So what's happening with the City Simplicity card from your perspective? Just random gas, food, whatever. I think that's the credit card he has on him right now. Really? You're okay with that? You're almost maxed out. Why do you even have a credit card on you? Why aren't you using a credit card? And he doesn't really need to. I don't think. I'd rather put the money into savings, I guess. Is your savings rate higher than 30 % of which is likely the interest rate on this card?

1:00:13Well, it should be 0%. $6 or$7 of interest accrued. I don't think that was. Money's accruing. Listen, you have a balance transfer offer. By the way, it's not 0%, it's 1%. That's until 10, no, about nine months from now. So that's a big thing to pay off, by the way. We also have at 30%, 21.99%, almost$300 as well that's accruing. So it's not fully interest-free because there was a previous balance that wasn't paid off in time or that's purchases. The balance transfer was 0.1%. But anything you spend on here is still going to accrue interest at its normal rate. I didn't know it worked like that.

1:00:49Yeah. And you owe$4 ,026.05 on here with a$46.88 minimum payment. These payments are about to start stacking up, my dude. Yeah. 20 years to pay this one off. 19 to be exact, but 20 years. Two decades. Two decades, minimum three payments only. And, you know, that's what we're doing. Yeah. And that's if you don't purchase this, your everyday card. And on here, I guess the balance transfer and whatnot is the UK trip. Why the f*** is he going to the UK if he's not independent? And that might be the first time you ever felt independent. Well, what happened with that stripper thing, I used a credit card, an airline's credit card, and I ended up getting a bunch of airline miles, and they were going to expire.

1:01:30With the stripper thing? Because I maxed out a card. For her? At the strip club? The strip club thing, yeah. Did you at least get, like... Mother, can you close your ears? Yeah. Did you at least get laid that night? Yeah, of course. Good, good, good. I actually do think the UK trip, the airfares were both paid with our mileage, point were you there yeah you were i thought this was his independence i know i went with them what the i thought this was the moment he was able to like leave the nest for a moment yeah and get a little taste of the outside world well i couldn't just go to youth k and not bring her she's got to have some good in fact i would suggest i mean i i'd go on a family vacation as well, sure, but I thought this was like the moment of like a little exiting the nest, a little taste test of the world.

1:02:30How long were you guys there? A couple days. A couple days? You flew eight, nine hours for a couple days? How many days? Three. You don't go to Europe for three days. I'm sorry. I know, it was stupid. But we went there because it was like a video game convention. Yeah. But I've been playing that video game since I was like nine. What video game? RuneScape.

1:02:55Wave the grandchildren goodbye. Oh, God. Yeah. Any single ladies out there?

1:03:04How much did this cost? $2 ,000 for a three-day thing. Yeah. Yeah. Yeah, and most of that was probably. Oh, you went there to meet your online friends. Yeah. That I've known for. Why would you even go to that? Why would you want to go to that? I don't know. Because I thought you guys were going to explore some history. We didn't go to Stonehenge. Get some brown food with peas and things like that. I don't know why I went. I wasn't originally going to go, but I was worried about him. So I went. We didn't spend any time together. What did you think was going to happen? It was a horrible trip, though, for me.

1:03:40Well, yeah, he went to a Ruinscape convention and hung out with his online friends, his Discord mods. Like, I don't know. What were you expecting to get out of it? Oh, God. I don't know what I was expecting. I thought we were going to go see some sites, and we really didn't do much. He just did something. There was no time. There wasn't no time. You could have had a good time over there. It's a little exotic. They still have their foreskin. Oh, God. Right before my job is when the convention was, so I didn't really have time to stay there that long. That's why we only stayed for a couple days, and I was starting my job as soon as I got back.

1:04:19Did you even do anything there? No. You were in the hotel. We went to Stonehenge. That's it. We went to the UK and we went to Stonehenge. It was horrible driving. I was afraid to drive. She wouldn't let me drive.

1:04:35Guys. You were driving on the wrong side of the road with the stick shift? It's hard. Why didn't you take transportation there or something? Like a tourist bus to it. I don't know why we didn't do that, but we decided to rent a car, or I decided. And it was so unplanned, that Stonehenge thing. You apparently have to make an appointment to go there. You can't just roll up to it. Okay. So that hurt. So you were in the hotel while you were at the convention, though? Yep. Buddy, what the f*** are we doing? You guys are so interesting. TLC. Contact them immediately. TLC, I get a commission. Contact them immediately.

1:05:13They need a show. The lives you guys live This is crazy Yeah Okay Yeah we've had a lot of interest this year so far How many times have you balanced a transfer On this card? Is it just that one time? On that card? Yeah we're on the city simplicity card Was it just one? I don't know if I've done multiple credit cards And transferred them at the same time This year I don't think I've done any this year balance transfers. She's not sure. Yeah. If you didn't do any this year, you've had approximately a late fee almost every month. Well, no. I haven't had a late fee. What do you mean? Not sure what you're asking now.

1:06:00Well, we have almost$200 of fees that have happened this year so far on this card. Some of them could be balance transfer. Some could be late fees. But if we haven't had a balance transfer this year so far, they would only be late fees. No, they would be balanced transfer fees. Reminder, the card we saw just before this had a late fee this last month. Really? I don't do that. How many? Credit cards are eight. Eight. Okay. No, I just, I don't understand that. I think that's just this year, too. There's no way. I've been late every month this year. It's just, I don't know. I'm going to have to look into that.

1:06:36I mean, that, I mean, I can do the exact math. Late fees are usually like, what,$35? Yeah, that's what it was. On the car, at least. It would be five months of this year. So not every month, but five of the eight that have been billable in this point. I have to look. Because I don't believe that. You don't believe... Okay. It's impossible. Because the balance here... Listen, if you transfer this balance in here this year so far, if that was the fee, that means it would be similar to the number that's already in there right now. Like it wouldn't be paid down that much. And this card is a 3 % fee of the balance that is transferred, which would have been about$115.

1:07:18We've had$192 of fees here. We've had at least minimum three months late this year so far. There's no other way. I do not see an other way. Two to three. I'll have to look at it. He's looking at it right now. Well, no, I'd have to look at it. The math doesn't make sense beyond that. I'm pretty good with credit cards. I just... Was it in the intro window? Because if it's not in the intro window, it could be 5%. That would make up closer. Maybe one fee of lateness. But, okay. All right. Amazon Chase card. What's going on? That's the card I have now. Oh, this is the card you have now? Gotcha. There was purchases.

1:07:57Yes. That's just spending randomly on bull... I probably put like$100 on a video game on there. Did you pre-order Battlefield? No, that... ...up my computer. I had to get a whole new computer for that. Don't go into his room. If his computer's getting that f***ed up. No, you had to secure boot or something. What'd you spend$100 on? League of Legends. I'm the closest you'll ever have to a grandchild. I'm sorry. No, that's not true. People are gamers these days. Gamers goon. In fact, honestly, some of the only Gen Zs that are f***ing are gamer men, gamer women that are meeting on Discord and, like, pound in flesh.

1:08:41Because other than that, no one's meeting anywhere. No. Well, actually, you're a millennial, so never mind. I mean, you might be fine. I could go to the bar. Your mom's there. You don't go to the bar, though. Shut up. Well, I mean, like, she's trying to, you know, make games. She could be my wing woman. Oh, yeah, okay. Well, yes, Colton's saying he plays League, but you're also engaged, Colton. Yeah. You're also engaged. You won. Gamer nerds Gamer nerds Do very well 12 years to pay this one off again Lots of interest on this one At 26.49 % interest rate We've had a late fee this year so far One on this card Just one Just can't believe I've had that Well this one I know for a fact There was no balance transfer This was a late fee Unless we were over the limit But I don't think that's done on this card I don't think so.

1:09:35So, and he did an Uber trip, I guess it looks like. Maybe it was from drinking. Yeah, be safe. I'm okay with that. I don't really drink, so. He doesn't drink at all. Did you take an Uber on his card? Why would I? No. I don't remember. When was it? Does it say? The number one YouTube membership just got upgraded. Three exclusive shows every day, Monday through Friday. Financial Audit post shows Exclusive and uncensored Financial Audit episodes Our call-in show, Hammer It Out Well then take the train! And brand new shows Fat and Fatter That is... I would go off brand Behind the Audit This was wild Shop Smart

1:10:28And now Upgrading from one live stream a week To two No other channel offers what Hammer Elite provides Join with the link in the pinned comment Or description below Join Hammer Elite The best membership on YouTube today Oh probably in Europe In UK you probably took an Uber That's what I was asking You did take an Uber once Okay Well that was that But yep we've had a late fee Do you ever use this on Amazon? No. So I'm not going to look at your Amazon then. No. It's mostly her purchases anyway. But does she purchase on Amazon using this card? No, I have my own. Promise. I have my own Amazon account.

1:11:12He will use my Amazon account. Okay. Because we don't want to pay Prime on two accounts. Which is fair, but that card's not attached. No. Okay. It could be, but I'm not sure if it is. There's actually a lot of credit cards But I don't use his credit card I use mine when I pay He uses his when he pays for his

1:11:42I probably use it if I buy something on there Just because it gets points What's going on with the Capital One Quick Silver Card? Who knows I'm just over this I need a drink. Oh, okay. What? Noon? About that time? It's 1 p.m. Eastern. Oh, yeah. Okay, well, I'll tell you, you at least got to balance the$2 ,188.17 with a$65 minimum monthly payment. $70 of purchases on here. Listen, that's as much as we put towards this, so we're not making any progress. Well,$43.74 of interest accrued. 18 years to pay this one off if we don't purchase, but we purchase. Yeah, I want to get rid of all my credit cards.

1:12:28Credit cards just need to quit being used, period. So they got to get paid off and then close them, I guess. You can close them before paying them many times. Take away the tool that is harming you. Credit cards are okay. Not if you can't use them. I'll let you use the Fizz card. It's one we advise, you know, a lot of our guests use. It's a debit card that builds credit, so it works. It only lets you spend what's in your checking account. Also, if you ever want to get a different job, I'll get you a course career certification as well. It's boosted a lot of people's, you know, incomes that have used it from this show.

1:12:58There are a lot of people in the audience as well. So we'll get you those for free, but you can close them. Take away the tool. Listen, it's okay to have a hammer, but if you are a person for whatever reason that every time you swing at it, it comes back and hits you in the eye, don't pick up a hammer. And that's what a credit card is for you. Yeah, but it makes it easier. Does it? Easier for what? Just save. Save cash money, but you're not. Not with this 30 % interest rate, my guy. Listen, it's Wingstop, Amazon, and Oculus. We're Oculus-ing, and we did have Amazon at$41. To be fair, though, the Oculus.

1:13:34I do a thing with the Oculus. I'll buy it, and then within 30 days, I'll return it. So I'm just playing it for free, really. Yeah, okay. Well, interest accrued on it, so it wasn't free. Small price to pay. It's so good. Dude. No. I don't either. Hey, no lifeys on the fourth card. One, two, and three, yes, but making progress. Nope. Well, the lifeys got lower. 24.05 % interest rate. Yeah. Dude, guys, this is crazy. Yeah. $239 of interest this year so far. We're worth thousands of dollars of interest across everything. Huntington, this must be the car. What is your vehicle? 2017 GMC Terrain. Well, you owe$14 ,400.

1:14:29I thought it was$18. That's what I owe left. Right. The original was$18? No, no, no, no. When we bought it, it was$24 ,000 you bought it for. Oh, boy. $14 ,463.98 is owed. And the minimum of the payment is$330, and that is chunky. Stack that with your other minimums. That$3 ,600 isn't looking so yummy. That is 10 % of your income already. Just gone to a minimum monthly payment. And that ain't right. $3.32? $3.30 is what's due, right? Oh,$400. It's$400. Yeah, it's$400. Looks like$170 was paid at one point and that's why little s was due. $400 is crazy for your income situation, dude. That's crazy.

1:15:11It's hard to find a car. You can get about a$10 ,000 car. We've seen it in the show. What do you guys think the car's worth right now? If you sold it private parties, so on the high end. Like$8 ,000 or$9 ,000. $8 ,000, yeah. $8 ,000. You're under water dramatically on this thing. $6 ,000,$6 ,500. And then we had eight late payments. Since when? I think it was just this year. I find that hard to believe. That's every month. That's every month. There's just no way. Show her. I did. Screen record it. Can you start a screen recording, please? No, I looked at it. And show her. Unless I have the wrong due date or something.

1:15:51I don't know. I have the fourth. It says the fourth. The fourth? Yeah. Why not just auto pay? Auto pay would take care of this whole thing. You know how many hundreds of dollars in fees and shit we've had this year so far? I know. On his own finances because he won't put on auto pay? Since 2023. Okay, so since we've had the car loan. Yeah. So last couple years. That's crazy. Eight is crazy. Yeah, I just can't believe that. But I guess I did. Well, it's a lot more believable over the past couple years than just this year alone. Yeah. What's the interest rate on this car? Uh, six. It would be there, right?

1:16:28Yeah, what it was. If it's six, I mean, that's not the absolute worst. I know it's not crazy bad. And looping back to something you said earlier, because I forgot about this until you say he doesn't pay his taxes. He doesn't do his taxes. You do his taxes. Oh, he pays his taxes. It's W2. It takes two seconds. Yeah, he actually usually gets money back every year. That's also not good either. You're giving too much. Yeah. You're withholding too much. Well, is that really such a bad thing? Yes, because you're giving them a loan at 0%. Right, that's true too. You could be paying off a 30 % credit card or putting in a high yield at like 4%.

1:17:05I never thought about it that way. Yeah, but I always just figured it's better to just give them extra and then get a nice little sum at the end of the year. No. You would have that sum to begin with. Well, I wouldn't spend it at least. That is America's forced savings somehow. That is true. Right. Oh, wow. Oh, she changed your insurance plan behind your back? No. No. I don't even. What happened? I hit a deer and my deductible was like$500. And she told me that she can get me a cheaper deductible. and I said okay let's do it and she changed my plan from 500 to 100 250 250 whatever so they investigated me for fraud everything went fine it was fine they paid the claim but they raised his rate horrendously so I had to change his plan so we changed to a different insurance company after that Oh, okay.

1:18:12Yeah, that's a mess there. So 6 % rate on the car? Is that what we're seeing? I'm thinking that's what it was. I don't think it was any higher than that. It's not over 10%. I remember it being a fairly decent rate when we bought the car. Yeah, 2023. I mean, rates were on the rise. Yeah, okay. Yeah. All right, student loans. This was for your trade school, right? Yeah. And Pittsburgh Institute of Aeronautics. No, this is just a trade. I think that one was paid off. I'm not really sure. Safe plan, but safe plans done. Forbearance. This is probably done next week. Oh, oopsies. This is done at the time of filming this episode.

1:18:54Oh, is it now? Interesting. That is interesting. None of you knew this. I knew it was getting close. I had no idea. It's past. It's not close. You know what happens when this goes into default, right? Yeah. What? It goes into default.

1:19:14He sends it to a collection agency. No, this is the federal government. They contact your employer and they garnish your wages. Yeah. We're seeing it across the board right now. People are getting their wages garnished. That'll be you. While also having this under credit as in... Yeah. That's not going to happen. I really don't even know what forbearance means. Forbearance is, you don't have to worry about it. The government's like just pushing it. I didn't know that. I thought you could just keep on doing that. Well, you can request the forbearance, whether or not they accept it. I don't know.

1:19:43You know, new administration, new rules. But you can't just keep doing it because eventually you got to. Well, you don't have a bad income, so I don't know what excuse they would accept. And they might. They are relatively lenient, but it's still a cruise interest, you know, in that type of situation, especially unsubsidized loans. Now, your first payment is likely due this month. It may have already missed. It may have not. You wouldn't be in default for that. that's what, like three to four months where you get into default? Right. But you got to pay it. Well, I was hoping there was some kind of student loan forgiveness coming around the corner.

1:20:16Okay, that was literally four years ago, and the Supreme Court said no three years ago. So you're really holding on to that one? That's just on the back of my mind. On the back of your mind? Yeah. As the Trump administration suggested, they wanted to forgive student loans. No. I don't know. I'm not really into politics. That's not being into politics. That's just being informed on your own thing. All that kind of stuff. Okay,$13 ,000 and 29 cents. No,$13 ,029 and 31 cents out on the student loans because it's been in, you just haven't done anything forever. Right, since COVID, really. Yeah, it's accrued$1 ,300 of interest.

1:20:55It looks like they'll start garnishing in April of next year. But your regular minimum fee payment amount is going to be - even though if I, like, say I start paying on it, they're still going to garnish? No. Okay. It's when it goes to default. $1.33 and 73 cents is your minimum monthly. Yeah. That gets taxed on top of the$400, on top of the$65, on top of the$88, on top of the, what was it,$46.88, on top of the$74. It stacks. We're stacking. I don't know what the interest rate's going to be. It's likely, it's 3.4, so it's not horrible. I would do minimum fee payment until it's paid off. I wouldn't rush to pay this off.

1:21:30Right. You've got to at least make your minimum required. Yeah. Is that it? Is that all the debt? Have we accomplished that? I think we got through it all. He owes you money though, right? No. $700. $600. You forgave. I forgave that. Okay. We'll count it forgiven. Walt Huntington. Is this the one you have access to or is this his special? I don't have access to any of his bank accounts. I apologize for the future OF purchases we're about to go through. It's only f***s. Yeah. That's f***s. Oh, what? Well, I don't know. I'm just guessing. based on... That's what only f***ing is. Yeah. I've never heard of it.

1:22:09It's your retirement plan. I'm sorry. I'm sorry. I'm sorry. Oh, gosh. You've probably seen it on statements. Oh, I think I have. My f***ing. It sounds so familiar for some reason. I was joking. It doesn't sound like a f***ing site. Only f***ing. You can make other content on there as well, just no one does. I was joking because I don't know what's in this. How did myself out there, huh? Watch it not even be in there. We'll see. Right. Okay, so this is what happens when you manage your finances, by the way. What do you think happens when he manages finances? What would you guess? No, I just think he just spends frivolously.

1:22:57Let's try six overdraft fees in this last month. They're reimbursed. Forgiven, yeah. Yes, but you did it six times, guy. Calculatedly. I knew I put money from my savings account in there to stop the overdraft fee. Ended with$116, started with$66. That's dangerous. How the fuck are we doing that? We're doing some cash for Charles. Where's all this cash going? $470,$100,$140,$91,$42,$110,$42? Where's that all going? Strip? Probably haircuts and... Dude, you got like a buzz cut. You're not getting more than a haircut a month. So the rest of us going, how much are we spending on a monthly basis? How do you feel about this?

1:23:35I don't. Probably like$200,$300. Minimum. Minimum. The Burlington Coat Event is back. Buy a coat now through November 29th and get$5 off your merchandise purchase of$25 or more from December 6th through December 24th. Plus, Burlington is donating 50 ,000 new coats to help those in need nationwide through our partnership with Delivering Good. We've been keeping you warm for over 50 years. We'll see you at our coat event. Burlington. Deals. Brands. Wow. Visit burlington.com slash coats for details. There's something else there that we're not seeing. Because a haircut is not$470. No. But you withdrew.

1:24:16What is this adding up to? About$700, would you say? $700 in cash. That's a lot. I can't think of anything. Not strippers. No. No, he doesn't do that anymore. No, I just stay at home all day, really He really doesn't go anywhere This is expensive gooning, this is smoking gooning Purr purr chatsworth I mean, maybe going out to eat What is purr purr chatsworth? I have no idea Buddy, you spent$35.20 on purr purr chatsworth Purr purr chatsworth I'm going on it I've never heard of that Well, it was on your own personal You can't deflect this one Because you're the only one that has this I just have no idea what that would be sometimes statements they're not what they are or they are but they're they're named differently than what you buy you know what i mean it's a bong it's a what bong bong a bong a device to smoke from a pipe it might not be a bong it might be a i'm trying to think of what i've bought that's what their website is though it's devices to smoke oh okay there's the delay

1:25:27Yeah, there was like filter tips, but I ended up returning them. I think. No, I didn't. But no, I remember what they are now. Oh my gosh. TLC, get in here. Oh boy. Okay. Vending machine, it looks like. Have a house. Havana house. Havana house. Dairy queen going in and getting some bullshit. Going in and getting some bullshit. Going in and getting some bullshit. What is this going in? You're stopping in and getting like$4.35 of something. What, gas stations? Yeah. Just snacks. Why don't you go to Costco or Sam's Club or even Walmart in bulk? Well, a bag of chips is not, a small bag of chips does not worth$3.25.

1:26:03It's just on my way to work, on my way back from work. You know what else is on your way to work? The pantry in your house. That's pretty empty. Yeah. Fill it is what I'm saying. It's more cost effective. Exactly. He eats out all the time. Oh, I'm being told there's muffins at the gas station. I got some muffins at the gas station. Muffins or are we talking like the bag of muffins? It was jumbo muffins So it's just one big muffin Like a big muffin Yes Okay Venmoing out East Point place 250 bucks No no no That was Venmo That's going in and getting some muffins Muffins muffins muffins muffins muffins That's a lot of muffins guy A little muffin top I see it.

1:26:53Muffins, muffins, muffins. Fiery AI. Amazon, Amazon. You said you don't do Amazon. Sometimes. Muffins, muffins. That was probably dog food and stuff. Team purchase. Muffin, muffin, muffin, Dunkin. That's our empty pantry. We're just going out. Dunkin' Donuts, Cash App, Muffin, Adam May. Adam May Inc.? What's that? It sounds familiar. I just can't think of what it is. It's going in for muffins. It's a convenience store. Muffin, muffin, muffin, muffin, muffin. Muffin, muffin. McDonald's. Muffin, muffin, muffin, muffin. Cash App. East Point. Muffin, muffin. Dairy Queen. G2A. It's a gaming website.

1:27:33You buy games. Dairy Queen. Probably muffins. I thought you were getting groceries at the dollar store. Oh, this is crazy. Muffin. Video game, video game. Muffin. Poland Balleria. That's a pizza shop. Muffin, muffin. Cash App. Muffin. Muffin. Fortnite. Muffin. Muffin. Muffin. Dairy Queen. Muffin. Muffin. Muffin. Muffin. Muffin. Muffin. Muffin. Muffin. Muffin. Muffin. Muffin. Muffin. Muffin. This is crazy, dude. This is insane. This is insane. Fireworks. Muffin. Muffin. I did a raffle at that fireworks thing. And I put in$100 of raffle tickets and won$1 ,500 of fireworks. works. So. Great. Great.

1:28:26What if you didn't win? But I did. Muffin, Fortnite, Muffin, McDonald's, Popeyes, Amazon, Dairy Queen, Muffin, Laundry Room, Laundry Room. I'm okay with Laundry Room. That's fine. Dairy Queen, Muffin. Where's that? Clean and quick Laundry Room. You're doing that? Muffin, muffin, muffin, muffin, muffin. White pages? Huh. Yeah. Why? I did that a long time ago and just never canceled the thing. Muffin, muffin, muffin, muffin, muffin, muffin, muffin, McDonald's. Muffin, muffin, muffin, muffin, muffin. This is crazy. How close is he to this gas station? The work cafeteria. So. Oh. A few steps away.

1:29:09365 Market? Yeah. That's your work? Mm-hmm. Yeah. McDonald's, Telegram, Fortnite, Muffin, Pizza, Muffin, Muffin. Furry Resort. Are you a freak? No, that's the grooming place and stuff. Overdraft, overdraft, overdraft, overdraft, overdraft, overdraft. Zell, Zell. $500,$100. Crazy. All right. Yeah. Total overdraft fees this year so far,$465. None of that got paid out though No $465 have been charged Refunded$360 So wise Come on dude $3 ,000 in this checking account Is this the one she has? No that's my savings account I don't really know anything about that account Okay yeah You got like$4 ,000 here $4 ,397 That's good Why are we not paying off debt?

1:30:10I'm a little confused Because I didn't know which one I should pay. Wait, where's the checking account that you guys both have? We don't have one. We don't have one together. So he just gives to you. Gotcha. Yeah, he just direct deposits money into my account. And$465 in retirement. Okay. Yeah. Oh, boy. I'll see if we can get a budget going. And this is going to be 100 % from you with mommy no longer involved. Do we agree on this? Are we at least aligned on this? Yes. I agree for sure. Okay, thank you. Good. Income on average, sometimes higher, sometimes lower. $3 ,600. Debt minimum monthly of $807.61.

1:30:48What will his rent be once he takes care of it and not him? $500. What about utilities? Is that included in everything? No. Utilities, internet, gas, electric, all that good stuff. How much is that going to be? Maybe $250,$300? Maybe$300. That includes his gas, electric, his phone, internet. Phone. That includes phone. Yeah. Okay, we'll cross the phone. Okay, gas vroom vroom drive drive. Car gas, how much? A month. I'd say like 120.

1:31:23Car insurance.

1:31:29That's new, so. I know, I forget. It's like two months old. 60 maybe? A month? That cheap? Yeah. Oh. Okay, 60. I'm pretty damn sure. You can do three. It could be 80, but it's. I'll do 80 to be safe. Yeah. We'll do$300 for groceries. Yes, you can do it. You have to meal prep. You're cooking a few times a week and you're warming up things and you're doing overnight oats and like that. Okay. You can do 300. You can do 250, but we'll do 300. We test and improve it every single quarter. The moment you need more, we will allow more. You can do 300. Okay. Use everything we do in the budgeting class.

1:32:02Go through the budgeting class. Okay. TP fun. This is anything else you need. This is toothpaste. This is whatever. This is a wife goon. $100, okay? Okay. Medical health care. Are there co-pays or anything you need to do on a monthly basis? I think it's$20 co-pay. Is that a month on a month? No. He doesn't. Oh, if you go in. He doesn't go to the doctor. Is there a gym? No. No. I should probably start one, though. I'll put in$30. We have a pet. A dog. Age and health. Two and a half years old. Good health. $50 for pet insurance. Get good pet insurance. Good pet insurance. There's lots of scam shit out there.

1:32:39No, I don't. I never did it. Oh. $50. How much for dog food? Probably$80 a month. Anything else that needs to be in your budget that I have not put in, I will put in$50 for a subscription in gaming. Okay. I can't think of anything else. Actually, let's see if we can put in$100. I'll try$100. Anything else that needs to be in there? I don't think so. Nope. And I'm sorry, I don't have... fund. Yeah, I learned my lesson from that. I haven't even been to a strip club since. Got yourself tested afterwards? Oh, yeah. Well, scary. Yeah. Oh, yeah. I didn't realize she did. Okay. Listen, you got$1 ,132.39 left over after your minimum.

1:33:28So let's allocate that other$132.39 to fund. Let's say you have$1 ,000 left over to throw towards that on a monthly basis, okay? Okay. Which gives you$232.39 of fund money on a monthly basis. Seems like a lot. I feel like I could cut that down a little bit to pay off debt faster. If you choose to, yes, but I'm not requiring you to. Listen, I think the car, if it is at the rate you suggest, that would do minimum payment until it's paid off. Same with your student loans. Right. So minusing the car from the credit card debt, we have$13 ,369.40 of credit card debt. we know the math. At 1 ,000 hours a month, that is just literally 13 months.

1:34:09That is not bad at all. 13 months, you do that, then we save up a fully funded emergency fund, which at this point, it looks like with your minimum payments and everything required, it's going to be about$12 ,000. You know, no, $10 ,500. Call it 11. So you save that up over the course of the next, because your minimum payments will be substantially lower by$807. No, by lower, you have the car payment and stuff, but about$400. $300 you'll save up that fully funded emergency fund in about nine months so in a year and 10 months you have no bad debt the car's not great but i think you can minimum payment until it's paid off because we need to catch up in retirement yeah at that six percent rate that's that the car is at talk about yeah so 10 i'd say a year and 10 months you're debt free have a fully funded emergency fund and then i want you to live 50 25 25 that is 50 of your income on needs which I think you can do less if you maintain this but if you go and live in a different apartment 50 % on needs you can totally do that because your lifestyle will be a little lower without the debt minimum payments as much 25 % on fun 25 % to retirement that will give you the time in the market and the percentage necessary to have a very dignified and happy retirement how do I do that in my like the 401k I just put in 25 % I would take your match up to your match, then I would max out your Roth IRA.

1:35:33And then anything after the Roth IRA that contributes to that 25%, if you have anything left over after you've maxed out your IRA, contribute more into your 401k. And make sure if you have the option, which about 50 % of employers do offer this, you take a Roth version of your 401k. So that by the time you're 59 and a half, if you want to retire then and you're taking out penalty free, the money's already been taxed. You're not getting taxed on the growth of the compound. Okay? Okay. That'll be the goal. Take the investing class as well. That'll walk you through all that. Take the debt class. Take the budgeting class especially because that's what matters right now.

1:36:06Investing, as we go through the follow-ups with you, we'll get more deep into that, okay? Okay. Guys, I already have notes of some of the craziest fucking shit ever in my life that we're going to talk about in the post-show. So if any episode you've ever needed to join Hammer Elite where you get three premium shows posted every single day, Monday through Friday, this is the one. Click the join button now or the link in the description. There's a little bit of a surcharge on the join button due to the iOS tax, tax, the Apple tax. But hammer financial score. Spending your budget, you overspent, 0 out of 10.

1:36:35Debt, no collections, but it's worth behind down a lot of payments. So one out of 10. We're all lots of late fees. Mergency fund, savings, 6 ,000. Oh, there's 6 ,000 in there, right? There's probably about 4 ,500. 45, okay. Take out 2 ,500, throw it towards your debt. That speeds along. That, in fact, will pay off the quick silver card and get rid of that minimum payment of$65 that rolls into the next. So there you go. You're probably a year and a half fully funded an emergency fund and paying off all bad debt. There you go. Take it down to two, okay? Yep. Good. So emergency fund right now, four out of 10.

1:37:08Retirement, one out of 10. At least you started, I guess. Zero out of 10 for real estate. No, I can't even count that as retirement. I'm sorry. Zero out of 10. Ah, no. One out of 10. I could sell it and get some money out of it. Technically. Hammer financial score rounded up, barely got over the threshold for the roundup. 1.5 out of 10. Guys, join Hammer Elite. This post show is about to be insane. I'll see you there. This is f***ing crazy. She convinced you to take out$2 ,000 from your retirement, but not just take from retirement because you had f***ing IRS debt. I never pulled it out. Well, it wasn't.

1:37:44What the f*** was going on? That is crazy. Shelly's friend stole Drew's identity. This is absolutely crazy. Exclusive members content. Click the link in the description or pinned comment below and watch thousands of hours of extra and uncensored content.