I Can't Believe She Showed Up Like This

0:01The world moves fast. Your workday? Even faster. Pitching products. Drafting reports. Analyzing data. Microsoft 365 Copilot is your AI assistant for work built into Word, Excel, PowerPoint, and other Microsoft 365 apps you use, helping you quickly write, analyze, create, and summarize so you can cut through clutter and clear a path to your best work. Learn more at Microsoft.com slash M365 Copilot. I'm Mama Jane. I'm 26. I'm from San Antonio, and this is Financial Audit. mama jane up from san antonio what do we do for a living down there i am a part-time student and an entrepreneur okay what are we entrepreneuring um i do cbd retail retail so are you in like a store do you own a store online and pop-up events pop-up events okay yes it's like people are walking to a music festival and you have a little tent yes so sometimes i put on my own events too and they just purchase from there.

1:01Okay. What are you typically selling? Is like infused stuff or? Most of my product is flour or smokable products. But I do sell a lot of infused products as well. Cartridges, edibles. So you're more of a middle man, right? Yeah. Where are you receiving yours from? It depends. I try to source from local people, from local retailers here in the area as well. So, yeah, I just kind of host the events and sell the products. I thought you worked for the city because I have here what looked like income from the city. I used to work for the city, actually. My partner still currently works for the city.

1:45When did you drop? I dropped maybe 2019, right before COVID. What is this? Oh, so this is his. I'm looking at his income. Yes. Okay. So it's kind of a couple thing, but you're going to be here talking on behalf. Okay. Is he camera shy? A little nervous? He works in the political realm. So we were just kind of a little bit more conscious. Interesting. So how is it for a politician to be married in Texas to CBD dealing? it's an interesting dynamic but we keep it pretty you know separate um but you know it it works what are you bringing in what are you bringing in i'm bringing in about 400 a month 400 000 oh no sorry no just 400 not k 400 dollars i do about one event per month one event brings me roughly anywhere for excuse me anywhere from 300 to 400 are we sure you have a business yes that's about what i bring in from home i try to keep most of my finances separate so if i'm taking from my business i'm taking about 400 how much is in the business and the business right now is probably

3:08like six to seven hundred dollars okay but we try to keep it separate i i do not want to be offensive i just want to be straight up and honest when it comes to the overall world of business sounds like a hobby yeah right now yeah i have a lot of stuff going on i'm a student i have two kids student and you stopped working for the city 2019 so that was quite a while ago now how long have you been trying to build this? Maybe about a year, a year and a half or so. Just kind of doing it part-time whenever I'm not working on schoolwork or with the boys. Where are you going to school? Strayer. What are you studying?

3:49Business administration. Great. Are you a full-time? Part-time. Okay. How much have you completed? How much more do we have left? Almost 68%. I have about less than two years. How long is it going to take? I should be done by the end of this year, I believe. Really? I believe so. So the majority was last year. I do quarters, yeah. And that's part-time? Completing it in two years? So you have a lot of credits you transferred? Yes, I did transfer a lot of credits. Cool. What are we trying to do with that degree? Make the business successful. Focus on the business. You're not hiring yourself, though.

4:24No, I'm not hiring myself. But it's just I know that in order to make the business successful, I need funds. And because my credit and stuff like that. A degree is not going to increase your credit. No, but it's going to increase my chances for a job. So you want to get a job? Well, yes, to fund my business. Why did you quit the city? Because COVID happened. I was pregnant at the time. No, you quit at 19. Well, I quit at 19 to pursue a political campaign. So you like ran for city council or something? Oh, no. I helped. I was doing the back end stuff of the person running for city council or for the council position.

5:00Okay. You got paid for that? Yes. Campaign was done. Then what? Campaign was done. And then I stayed home with the baby. Oh, yeah. So was this the first birth then? First one. Okay. So how old are your kids right now? First one is going to be, he's going to be four this year. And second one is going to be two this year. Wonderful. Cool. So, I mean, you're certainly juggling a lot. I'm just trying to get, like, an overall picture of where you're at. So, full-time mama. Part-time school. Hobby business. Hobby business. What are you trying to do with your career? Right now, with my career, I'm trying to just break the stigma.

5:40No, with your degree. Oh, with my degree. Stigma? What's stigma? The cannabis stigma with moms and things like that. So, we do a lot of advocacy events and things. I guess I'm not a part of the community enough to know that there's a stigma against mom smoking or something. There is somewhat of a stigma, especially in the... Who's caring? CPS. Oh, okay. Lots of other people care, legally care. But besides that, I do, like, just the events. That's okay. Okay. What do you want to do with your degree? um with my degree it's pretty much just a backup plan honestly just a degree is not a backup plan why why why is this the same conversation i've had within seven days where someone's saying they're getting a degree for a backup plan it's not a backup plan you're spending years and years and years and money and money and money doing this are you cash flowing college what does that mean are you paying for college no it's not a backup you're going into debt for backup we don't go to debt for backup we go into if we're going to go into debt for something we're going into it as the primary thing.

6:50It's an investment into it. You don't invest in a backup. That's just like a backup battery for your computer or something in case the power goes out. You don't invest in a backup like that. That's not an investment. Okay. If you're doing a backup, get like a certification. I do tech certifications through course careers. I talk about trade schools and stuff like that. Going and getting a degree as a backup. I love degrees. Get them. Great. That's like we're going, we're pursuing it because that is what we plan to use in a career field that we are pursuing. We're not spending all this time and all this money, which is debt for a backup that we probably won't use.

7:32Very true. But it might come in handy while I run the CBD business. Guys, it's a new year and you need to make your money work for you. You can do exactly what I literally do right now and put my money in the best high yield savings account so far. I get a 4.6 % yield on my money. And I also took advantage of the bonus of up to$250 when I signed up. You can start 2024 off amazing by doing the same by going to the link in the description below. So the education itself, you know, there's this great free resource out there called YouTube and a lot of business owners and stuff, they put a lot of their just education and knowledge online.

8:10Now I'm not saying that replaces the degree it doesn't in terms of the degree is often what gets people in a door in terms of education man there's so many good just free resources out there even if you just uh like pay for one of the courses online dude that teaches you about basics of running businessman instead of taking all the gen eds that you're never going to use instead of borrowing all the money that is going to be a pain in the payback it's different i'm not saying you won't gain any knowledge from that not even close but there's a lot of extra steps that you're just not going to take advantage of or we could just be focusing on learning in a free or paid way online very true very true i feel like i started it so now i if i don't finish it there's a lot of pride stuff that come with that i mean i've i've heard that from a lot of people and it's not unfair i get it i get it but i just try to real real world things and i'm like oh this isn't actually going to benefit me even though i'm like halfway through it okay i'm gonna actually go do what benefits me instead of waste my time and put off what's benefiting me you have a uh a point it's just you're right maybe it is pride um and you're gonna complete it this year you mean by like the end of this year by the end of this year beginning of next year so that's still a long time that's still an entire year yeah um i mean i'm it's not like i'm against it by any means like uh as just a concept and you know if you want to finish it out finish it out but when we're trying to get to a certain goal man we have all these different things you're doing instead of just focusing up and trying to pursue the goal completely it's harder to achieve that goal when our hands are just in so many different pots that's what concerns me especially when we're borrowing money to put our hands in those pots okay so obviously we're living off the husband's income yes okay which gross was this last year's gross or like this is i think if i'm not mistaken the last 60 days 68 000 gross over the course of what it doesn't say oh um okay either way what's his pay period His pay period is every two weeks.

10:27He gets$6 ,500 a month. Okay. So, yes. Well, more than that for his gross. But after withholdings and all the goodies and all the funds that don't really have a choice in, net pay per paycheck,$3 ,124. Yeah. Now, not like there would be much to pay, but are you paying taxes on your business? Not. Not with his paycheck. I don't know. Are you paying taxes? Oh, yes. I'm paying taxes on my business. 300 comes in a month? About. So total household income would be$6 ,548. Not too shabby in terms of when you're slightly above the median U.S. household income. How do we feel living on that? How's life going?

11:13It should be going a lot better, I feel like, but we're just not getting our stuff together as much as we should. And I take full responsibility. i'm not as educated why is it just you no he he's really good at the finances but i'm not really good at keeping up with the finances so how does that relationship work in the finances that if he's really good you're not good is there not conversations education we we do have conversations but i you know i don't know the education is there he can only teach me so much what does that mean like are you incapable of learning no i'm not incapable exactly i mean you're in school you better not be i i would hope not yeah but um no just we sometimes finances gets heavy when you're talking to a partner so we try to keep it civil that makes sense that makes sense i get it i wish he was here for this conversation yeah me too um but i'm sure he's watching i'll approach it in a way like i am also discussing with him even though we won't be able to hear his side but and just you know what i think across the board so yeah lowes we went to lowes and got a credit card a classic synchrony so we're just financing a home repair what were we doing uh yeah we had bought our first home so that's when we initially got her when did you get that home um in 2020 when did you borrow this initially initially in like 2020 How did you balance for over three years?

12:49No, we paid it off and then we had an emergency expense. What? We needed an AC unit. Home ownership's not cheap. Yeah. It's not cheap. You didn't have an emergency fund. We did, but we had the card and we thought we'd pay it off within the six months. Then why did you not pay it off? That's where I lack knowledge. I don't ask the right questions So we don't know why he did not pay it off? No I don't know why Is it still within the interest free period? Do you know I don't have the full statement? I don't think it's in the interest free period anymore Or I think it's like Yeah it's either that Because it just happened recently Like this summer So if not It's probably about to It ends next month It ends in less than a month from now So this needs to be taken care of immediately $30 minimum monthly payment is not going to get you there because there's a balance of$376 ,025.

13:48But it ends on the 8th of next month. Okay. We will take care of that. Put your big boy pants on if this episode comes out before then. Pay it off. She'll tell you to pay it off. Yes. When you get home. Immediately. In the car. I'll tell them. Oh, he's here. No, I'll give him a call. Oh, okay. Capital One. Lovely little class. Everyone always has a Capital One on their show. It's a classic. Previous balance,$293. Interest of accruing. What is this? What is this? Whose card is this? Is it both their cards? Which one is it? It's a Capital One card. I think we have two Capital One cards. Platinum.

14:28I think we have two Platinum cards. Whose card has a balance of$326? That one would be mine. Why aren't you paying? There's a late fee because you're not paying. Why aren't you paying? Does he know you're not paying? No, no, he doesn't. It typically comes out of, it's on auto pay, but I saw. No, it's not. If it's on auto pay, there's no late fees because you pay automatically. Well, there's no funds in that card anymore. Oh, and the checking account it's attached to? Yeah. So. Why? Why? Why is there, one, no money in there? And two, if there's no money in there, why haven't we switched it to something else?

15:08are you guys the finance separate maybe for the most part they're together but we both have like we don't have a joint bank account why we just haven't got around to it why irresponsibility and a monthly payment is normally like 30 bucks on here probably but you owe 61 bucks because you're you're late yes so it tried to hit your account you didn't have money in your account so it went away well you guys don't need separate checking accounts You can. You can. But obviously we lack discipline and we obviously lack communication around it. So it doesn't make sense. We should have everything in your guys' situation combined.

15:48Sit down on a monthly basis and go over what has happened. Not to start arguments and push a blame in terms of, oh, why did you spend this money? It's not about that. Go over what happened last month. Where do we want to be next month in order to hit our overall goals and adjust from there? I just didn't. I didn't think about it. We do not miss minimum monthly payments, dude. That's not a f***ing thing. That's not a f***ing thing. Total fees this year so far,$174. What is that? Seven missed payments within a year? Within 12 months, you've missed seven of them? Probably. Why? Why are you not taking care of your s***, dude?

16:33I always forget about it. I don't have a reminder. Why is there never money in your checking account? I use Cash App mostly. Why? If that's clearly not working, so why? It works for me. No, it doesn't. No, it doesn't. Not for the payments. It doesn't. So it doesn't work for you. Okay. Well, at the time, it was working for me. What? What time? Seven. Seven. Seven over the course of a year. That's a lot of irresponsibility. That's okay. Cool. You acknowledge it. So awesome. You acknowledge it. Why haven't you changed anything? You know you're irresponsible. So why haven't we been like, I'm a big girl?

17:18I didn't realize it was seven times. Dude, if it's one, that's when we realize. I should have changed it after the first time. You're not excused if you just sit back and say, yeah, it was your responsibility. I don't say, oh, okay, handshake, get out of here. You're good to go. That's not how this is going to work. I'm not going to let someone skate by like that come on you've watched this show yeah why do you think you're being irresponsible I'm just trying to get in your mindset I know that's always a hard question but just like if you just think about you how your actions are going okay everyone makes a mistake a missed payment still hate it but if it happened we're like missed payment wow I'm going to change my life and never do this again But instead, we did seven.

18:04You've recognized you're irresponsible. Why have you not cared enough to become mature enough to change that at some point in your life? I didn't think about the interest it was accruing. I just thought it was a mispayment. I didn't think about all the fees. Do you not care? No, I do care. No, it doesn't look like I care, but I do care. Tell me what you hope to get out of this conversation. I'm hoping to figure out where we need to do to move forward, where we need to go. I can tell you what you need to do, but man, for someone who misses seven payments in 12 months, I could tell you what you need to do all day.

18:51Will you do it? Man, I don't know. I don't know. Yeah, no, for sure. If he knew, I'm sure we wouldn't have this conversation. Yeah, I'm pretty sure. I'm pretty sure he knows. What's he going to think? Oh, he's going to be so upset. And how's that going to go? How's that conversation going to go? What's going to happen? You know your relationship. It might go bad, but he'd be patient, I think, and be like, okay, well, let's just fix it. And then move forward. You guys need to be joined on this, man. Yeah, we do. It is to be a team goal path forward. Well, this is my way of, like, taking forth that team effort and, like, trying to step up.

19:39No, I mean, you're brave as being here, but I'm not going to let things slide either. Oh, I know. PayPal credit. That's not me. I don't know PayPal credit. The SIM. Yeah. So he's not the responsible one. So what is this? Where's my hope? It is gone. It is pulled from me, ripped from my existence because he's losing interest. And someone that's losing interest, let me talk to you. Let me talk to you because you're watching this and you're not here. Guess what? If you have a balance, you're only making the minimum monthly payments, and you're losing interest, you are not purchasing$106. You're not.

20:18You brought your balance from$691 to$774. You are not the responsible one husband. I wish he was here, but clearly not. Clearly not. At least he's making his payments. Step in the right direction. But this is hard. I think he needs to be here. This is upsetting to see because this whole conversation, I was like, okay, cool. We have a personal finance and knowledgeable person in the relationship that can help educate and see the ship. What is this? You can make enough money to pay off$691. If you need to and you need to. $41 minimum monthly payment. What do you think of this? Did you know this existed?

20:58I knew it existed. I just did not know how much. Collections. What's in collections?

21:07I think a hospital bill or two hospital bills are in collections. On when? 2019, I think. Okay. How much was it? Oh, well,$1 ,402. too and i'm sorry you went through whatever medical thing you did uh why was this not paid i lost the card and then i'd lost or and then i got a new phone because i think that card is that one not on a card or is that collections you said it was medical bills why was it not paid just trying to get some context oh no this one's from a credit one bank so we have more collections somewhere yeah more collections okay why was that not paid this one was not paid because i I lost the Credit One app and never got back in.

21:53So I stopped making the payment. What the actual f***? I'm sorry. I don't want to be mean to you. But all we do is we push download, forgot password. Oh, yeah. No, I completely didn't have the card. I didn't have anything. You request a new card. This is not very complicated. We Google Credit One customer support. I hate Credit One. If anyone deserves not to get paid back, it's you, Credit One. You're a f***. I thought it was Capital One for the longest time. That's how they get people. It shows up in the mail and it looks like Capital One. We're like, oh, Capital One. And we signed up for the most predatory credit card.

22:27It's terrible. Trust me. It's not excusing you for not paying. No, it's not excusing you for not calling a number that you can Google very easily. I thought I was trying to get my Capital One credit card reinstated, and it was not that one. So I solved the problem for the$300 credit card that I had lost that had the$300 debt, but not for this one. We have a car. Yeah. I moved to Apple Pay. We have a car. We have a car. What is it?

23:0121 Honda Accord. Yes. What's the interest rate on this thing? I don't think it's too bad. I think it's under six. Okay. You sure? 100 % sure. I'm not 100 % sure, but I know it's not that bad. Well,$20 ,000 is pretty bad for someone who brings in$50 a month. $500 a month. $50 or$500? Anywhere between like$200 to$400. Yeah, that's a lot of car for that. So imagine if there was a divorce. Would never encourage it. Never want it to happen. But what would you do? With a$400, yeah, you're bringing$200 a month or whatever it was, and this is$407 a month. wait this is a lease they're both leases both where's the other one I don't have another one give me one the other one is it's$400 but there's 7 payments left on that one so but they're both leases 4 payments left the other one has 7 payments what are you going to do in 4 months the other one we're going to buy it which one I'm on the the Honda.

24:10On the Honda, I think we're going to trade it in for something cheaper. You're returning it. Returning it for something cheaper. Another cheaper lease or a car purchase? Okay, what's the other car? 2021 Equinox. How much is remaining on that? Seven payments and they're$400. What are you going to do when that's done? I think we're buying that one. how much is uh what's the purchase price gonna be why didn't you send me the statement i thought i did i have the statement on my phone if you'd like to look at it yeah do it what are you doing then i'm gonna take a look at your purchase amount is 21 23 20 000 oh yeah we have a total collections of 8 740 oh my gosh those i know are medical bills and why'd you not pay those At the time, I think I was still, like, living at home.

25:05Not a lot of money. I just went to, like, a ER. If you were living at home, why didn't you make money? I don't know. They're pretty old, like, 2018, I think. 20. No, if you were living at home, why wasn't the extra money going to this? Oh, I was irresponsible back then. I didn't think I had to pay that. You didn't think you had to pay that? No, because I thought my dad took care of my insurance and, like, my medical bills, but that was not happening. What the f*** is going on? So these are your student loans and his student loans, huh? You're both in public student loan forgiveness? Just him. I haven't started mine yet.

25:42Oh, I only have... Well, it's a rock. That's a husband. So I only have his. Where's yours? Mine. Are yours the$44 ,451? What kind of student loans are those? I think they're just the generic Sally Mae ones. Sally Mae? I think so. Sally Mae? I could be wrong. Pull up your credit. Pull up your credit karma right now. Generic Sally Mae? Like, that's just a normal thing? Well, that's the one I always hear about. So I always think that that's the one. Something to avoid. Gosh, I feel like I'm being mean to you, but just... You're past due. He's past due. He's past due. He's past due. He's the responsible one.

26:24He's past due. He should be here right now. He's past due. No! You have to make 120 consecutive payments in order to get this forgiveness that he's trying to do, but he's past due. He's not making the consecutive payments. And he's a... Wait, I think... I don't want to excuse it, but I think that's like his job's problem. His job pays for the thing. Even if it does, even if it does, it's past due. And he's lost all progress in any kind of forgiveness. Yeah, he needs to figure that out. Yeah, because he has$88 ,000 in student loans. If I'm just bailing, bailing on forgiveness of$88 ,000, $88 ,000, I'm not just bailing on that.

27:11That's not something we're just, like, brushing off, dude. That's not something we're not taking seriously.

27:19You know, I honestly... This is not against you. You're a very lovely person. But I thought this was actually going to be a relatively chill, go through the debt, do a budget, you know financial audit classic type but man the hidden under the under the rug type we got going on here is insanity you know his student loans and then both of your student loans together ten thousand dollars less than your mortgage your mortgage and we're just we're essentially because we're not like allowing ourselves to be responsible for one hour a month to look at this stuff. You're essentially allowing a balance, like your mortgage, to not be forgiven.

28:02That much. Double your house. I don't know. Kalamazoo is a lovely place. I swear, not everyone from Kalamazoo is so angry. Your credit score is 575. Are you on the mortgage? No. Yeah, I wouldn't think so. Credit card use is 108%. Payment history is 95%. There's a derogatory mark. No, it's federal student loans. thank everything okay thank everything if they were selling me they were private student loans and I wouldn't have been surprised if the interest rates were like 10 12 15 % those are probably like five yeah I don't think they're too too bad uh well I wouldn't say they're good well they're not the greatest and that's why I dig into people because everyone comes on the show it's like this isn't great but it's not bad either it's pretty bad the day that I woke up and realized just how mad how understood for the first time in my life how bad the debt was, that's when I got my gear.

28:56So that's why I want to make very clear just how bad this is. That's why I dig in. Are you on income-based repayment? What are you doing? Your student loans. I'm still in school, so I'm not. They are deferred. That makes sense. Yeah. Wait, you're borrowing more, aren't you? You're going to take it to like$50 ,000. It's going to get worse. Yeah, probably. Unless I drop out, then I just pay them back sooner, I think. $154 ,902 mortgage,$1 ,368 including, yep. Okay, this includes insurance, property taxes, all those good stuff. So$1 ,368.89 on a monthly basis. Amazing. 3.4 % interest rate. Thank you.

29:40You're welcome. It's not on your credit, but you're welcome. No, I know. It's unheard of. Got a house. I guess we had to go get solar panels. It was the right thing to do. Environmentally. Cool. Congratulations. You can afford it. This is$27 ,383 that you owe. Yeah. And you guys are late on multiple accounts. So, right thing to do? For the world? Maybe. For your lives? Not even close. $27 ,383.25. 3 % interest rate. And normally I would not actually worry about this. I'd be like, oh, you know, okay. if this was your only debt, we had a mortgage on top of it, in Texas, in the San Antonio area, it's going to pay itself off in a decade or so.

30:27So at least this in your overall financial picture, where everything else is, where all the other debt is, this is adding a substantial amount of money into the overall pile that is starting to get out of control immensely. Yeah, the student loans definitely kind of push it over the edge, I think. I was talking about the solar. Oh. Well, yes. I mean, all together. It doesn't matter. Individually speaking, it could be any of them that are pushing them more for the edge. But we're not making minimum monthly payments on some accounts. So we just can't have any debts. You're not a debt people. $3.68 in your cash app.

31:04We have Apple Bill, some taquitos, Pete's House, taquitos, Shotgun House, Roasters, taquitos, taquitos scooters coffee cookie cutters chick-fil-a starbucks marshalls well cookie cutters for the boys what what is which one their haircuts cookie cutters haircut cookie cutters is haircuts okay starbucks they're so young why don't you just like i the sink that's dad i try okay dad won't let me touch their hair they have dad you can't even pay your own bills they have Listen, I'm not opposed to that. Some people out there are going to be like, Caleb thinks that your parents have to cut their kids' hair.