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Podcast Episode Summary: If Her Husband Sees This, He's Leaving | Financial Audit
Podcast Title: Financial Audit Episode Title: If Her Husband Sees This, He's Leaving Episode Description: A deep dive into financial mismanagement and the impact on relationships, featuring a candid discussion with a guest about debt, budgeting, and financial responsibility.
Key Participants
- Host: Caleb Hammer
- Guest: Kristen, 28, Social Worker from Austin, Texas
Episode Highlights
Introduction
- The episode begins with a strong emotional tone, addressing a financial struggle that has affected Kristen's relationship with her husband.
- Kristen shares her background as a social worker and her income details.
Financial Overview
- Kristen's current income: $71,000/year (~$5,800/month).
- Discussion about her husband's income: $1,200/month, increasing in August.
- Total household income: $5,800/month.
Current Financial Situation
- High debt-to-income ratio causing stress.
- Kristen admits to poor financial choices and a lack of budgeting, leading to lost trust from her husband.
- They frequently relied on family support to cover basic expenses like rent.
Key Problems Identified
- Debt Accumulation: Kristen has significant credit card and student loan debt.
- Budgeting Issues: Kristen does not have a clear understanding of her spending and admits to not budgeting effectively.
- Trust Issues: Her husband’s trust has been eroded due to financial mismanagement, leading to stricter financial oversight.
Spending Habits
- Kristen's spending exceeds her income, leading to debt accumulation.
- Host highlights that a significant portion of her spending goes to fast food and non-essential expenses.
- Example expenditures include:
- Fast Food Spending: Nearly $1,000/month on dining out.
- Credit Card Debt: Involvement with multiple credit cards leading to high-interest payments.
Financial Tools Discussed
- Simpler Budget App: Recommended by the host for better tracking of income and expenses.
- Rocket Money: Suggested for managing subscriptions and monitoring financial health.
Suggestions for Improvement
- Budgeting Discipline: Kristen is encouraged to establish a strict budget to curb unnecessary spending.
- Cutting Non-Essential Expenses: The host stresses the need to eliminate costly dining and entertainment habits.
- Debt Management: A focus on prioritizing debt repayment over discretionary spending.
- Increase Income: Exploring additional job opportunities or side hustles to improve their financial situation.
Conclusion
- The host expresses frustration with Kristen's financial choices and lack of accountability.
- A call to action for Kristen to take concrete steps toward improving her financial health, emphasizing that change is necessary for both her and her husband's financial future.
- Final Thoughts: Kristen is urged to return with a plan to address her financial situation and re-establish trust with her husband.
Key Takeaways
- Understanding Debt: It's crucial to recognize the impact of accumulated debt and develop a strategy for repayment.
- Communication in Relationships: Financial transparency is vital for maintaining trust in a partnership.
- Budgeting as a Tool: Effective budgeting can help track spending and identify areas for improvement.
Resources Mentioned
- [Simpler Budget App](https://calebhammer.com/app)
- [Rocket Money](https://RocketMoney.com/caleb)
- Various financial courses and tools available through the host's website.
By the end of the episode, listeners are encouraged to reflect on their own financial habits and the importance of accountability, both personally and within relationships.
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Transcript
Automatic transcript. May contain errors.0:00To watch episodes of Financial Audit a week earlier, check us out on YouTube. You lied! You f***ing lied! You lied! Who the f*** will ever trust you again? Come on! I saw it in your f***ing eyes. Those White Walker eyes. I called that s***. And the fact that he can't trust you? Yeah, I understand it now. Download my new Simpler Budget app today and take control of your money once and for all. Hi there, my name is Kristen. I am 28 years old from Austin, Texas, and this is Financial Audit. Thanks for coming into the studio. What do you do for a living here in Austin? I am a social worker at a nursing home.
0:43Social worker, a lot of school, not always a lot of money. Has done better in the last few years, but what do you make? Right now, 71. See, it's done better. See, it's doing better. And now for a lot of the school that goes into it, but 71, okay. Hey, so what's hitting your account on a monthly basis right now? I get about 23 each paycheck, so probably 46 total. Okay. So how do you feel living in Austin? How are things going? I, more recently, okay. We're planning on moving somewhere cheaper. We're planning on moving. My husband and I, yes. Oh, this is a jewel. Yes, yes. Okay, what does he make?
1:26He just started working as a behavioral assistant at an elementary school. So what's the total household income? So starting next month, he'll start getting$1 ,200 a month. And then August. $1 ,200 a month? In August, it'll jump up to, I think,$27. Even still? Mm-hmm. Why is he getting paid nothing? He's not quite a teacher yet. So his goal is to get a salaried position as a teacher. but he's just not there quite yet. So 5 ,800 comes in on a monthly basis. But for Austin, okay, you're in the median. So I'm surprised he's making so old. How old is he? He is 24. Okay. Okay. That makes more sense.
2:19So we have a lot of debt. Why is he not here? He's working right now. oh okay so what is going on what are we talking about i i think i have a little bit more wiggle room than i give myself credit for i i want to get the i don't what does that mean to you i mean i don't i all of my bills like there's leftover money and i i don't do well with it so i i want to figure out well with it i need to put more towards debt and that's why we're here i have a lot of debt my debt to income ratio sucks and it's really limited you have a lot of debt What? I haven't made the best financial choices. Why haven't you made the best financial choices?
2:56Good question. My husband and I would love to figure that out. He's kind of lost a lot of trust in me financially, and there's a lot I need to figure out. He's lost a lot of trust in you financially. How long have you guys been together? We started dating end of 21. Okay, so where was the trust, and where is it now? There were a couple months last year where we weren't meeting rent, and that was kind of nice. You were meaning rent? Were you making this income? We eventually, like we never were late. We ended up, we got help. Then what are you talking, you got help? What's help? His parents, my parents.
3:30His parents, were you making this income? Yeah. How were you missing rent? I was. His parents? Yeah. So your father and mother-in-law had to cover your rent when you make$70 ,000 a year? Not all of it, not all of it. They would cover the portion that we couldn't. Well, how were you possibly missing? okay I'd lose trust in a partner too if that were happening so what was possibly happening I had to pay my car bill I had other bills to pay as we all do and everyone else in this entire literal country so what was unique about your situation when you made above the median person in this country I think
4:15part of it I think I want to be able to refinance my car. I have a lot of credit card debt, student loan debt, everything. No, why were you not paying your rent? I just, once those other bills came out, I didn't have it. How did you not have enough? You just said you have enough wiggle room. You just didn't know you f*** up your money. So what do you mean? You said you don't. Well, I was using credit cards for rent for a little bit. For a couple months. For why though? Again, in the mathematics, what's your rent? About$2 ,000 a month. Okay. that sucks for the 4600 was he making any money not he had just moved back so why are you guys in a 2000 dollar place at that point because if we're bringing in 46 a month well at the when i like that's pretty brutal we're talking about 43 almost 44 percent of your net going to rent which is pretty brutal then we have utilities on top of that renters insurance is pretty minor internet and then all your bills yeah i can see it's starting to become hard so why are you guys in a rent that was obviously more than you could possibly handle at first i was doing okay and then when he came back i kind of fell off the horse and wasn't spending wisely and now we're well he was he we were kind of long distance for a second so i moved how long distance uh he was up in wisconsin that's where yeah that's long distance yeah that's where we met so he was finishing college up in wisconsin while i was establishing down in round rock because i got a job offer um i actually lived with his parents for a couple months while looking for an apartment found an apartment did well and then what was the price of that apartment 2000 that it was it's the same yeah so what went wrong how did it get bad once he got here that doesn't make any sense um he was still looking for work and then when i first moved into the apartment i didn't have the other credit cards i only had one credit card yeah why does a credit card matter unless you're f***ing it.
6:05Yeah, so they got spent on and then I had more bills to pay with the money that was coming in. Why were you spending more on the credit card than you could possibly And I honestly didn't even think about rent until it was close to do and then I'd realize, oh shoot I don't have the rent money to pay You're saying your husband husband? Yeah. Has lost trust in you? And it's because of this? what does this look like this loss of trust that's crazy you guys are barely married you couldn't have gotten married that long ago in October and he's losing trust in you what does that look like it was during our engagement period where it was like I don't think we're going to make rent and that's when he did you guys make a past engagement love but he told me when we started not being able to make rent he was like what do you mean we've been fine And that's when he found out that I was putting some on credit cards.
7:04And he was like, that's when we got our joint account officially started. Because he was like, I want to see what money is coming in and going out so I can figure out where we're going. Single household, got it, basically. And now he runs the rent account. So he'll take out every portion. Yeah, so he, with his bank, has a rent account that he holds. So you needed him to come in and rescue? He wanted a roof over his head, so he took that portion over. Well, preferably, yeah. Yeah, why couldn't you even be considered close to responsible enough to deal with it? Well, I'm responsible enough now to make sure that there's$500 each paycheck that he— $500 each paycheck?
7:38Yeah. So we each contribute$1 ,000 to meet the$2 ,000. He only makes$1 ,000. Yeah, so all his money currently goes to rent. And he doesn't have—he has some— But he had to take this over because you could not do it. Correct. But— So this loss of trust, then, is obviously critical. I mean, you guys are trying to make it in a full marriage. What does this loss of trust look like today? Are you not allowed to touch it? What does it look like? Well, at this point, as soon as my paycheck hits, I will pay all of my bills. And then we have a little bit left over. He takes the$500 out immediately each paycheck.
8:16Yeah, but what does the lack of trust look like? It's gotten better for the most part because I'm able to divvy out the money. Yes, but what does it look like? What are you talking about? It's better. It's better, but what does the relationship look like with the lack of trust? You told me he doesn't trust you. There you go. Thank you for an actual answer. He questions a lot of my spending. And, you know, I'll go to him. I'll be like, I'm thinking about going to, like, get my nails done or something. And he'll be like, why? That makes no sense. That's$60 that you don't need to spend. Go get nail polish.
8:49Probably. See how this is a lot of paperwork. Whoa. So I usually not that he requires me to, but I usually run any like anything coming out of our joint account, which is where I spend all my money. But you said lack of trust. I run everything by him at this. Yeah, but you are. He's not asking you to, right? He prefers that I do. OK. Yeah. He checks the joint account almost daily. So that's like I asked. So it's not that a privilege was taken away. Right. He just monitors everything a lot more closely. leave um so so that he doesn't have to ask if he sees something i didn't tell him about i'll ask him before you guys got married what about the 27 years leading up to that or the nine years of adulthood i have never been great with money i started working when i was 16 financial situation growing up i i've never really been frugal with any money i've got then how did you guys's conversations with money go leading into the engagement leading into the marriage well when we first moved in with each other uh i didn't have to pay too much in rent he it was only i only paid 20 of the rent so that was about 200 and that was 20 200 was easy to pay so it didn't question anything with money you guys well so you had to require him to there wasn't much you guys didn't talk about what you guys's finances were like no not no we couldn't really hit rent because there was nothing to question there wasn't why does it have to be question you guys are getting in the long term fine everything was fine but what did you want to know what your significant others finances look like if we're headed into a lifetime i knew he was good financially does he have any debt uh student debt yes uh federal private i think both but he's only paying his federal his parents are doing his private that was their agreement so agreement it's still interesting dynamic i'm sure why did he have to borrow so much school is it a public uh no it's a private school oh okay okay great for his 1 200 a month he makes that's wonderful you guys didn't communicate so i'm not surprised that there's a lack of trust now but who's surprised no one's surprised here's the secret most people let it go unnoticed and it kills your budget it's subscriptions and i'll admit even i found myself blowing precious dollars on unwanted subscriptions that are set on auto renew.
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12:31That's rocketmoney.com slash Caleb or head to the link in the description below to check it out and get a hold of your finances today. Well, at first there wasn't really much to talk about because we were doing fine. So we just assumed oh we're all good there's nothing really to question and then once we weren't able to make rent it was like oh now we have to question it well what's an interesting dynamic that i'm starting to see already in this and kind of why i wish he was here listen he's not making much money his parents are paying for his federal student loans his parents jumped in when you were not able to pay your rent on time are they helping in other ways right now they pay for groceries but that's They pay for groceries for a 28 year old who makes$72 ,000 a year.
13:14They seem happy to do it right now. I'm sure they seem happy. I'm not saying that they are evil, but what they probably are doing unintentionally is enabling your stupidity. You bring in household$5 ,800 a month,$4 ,600 from you. Do I have all household expenses or just your accounts? um i mean he doesn't do i have any accounts of his mine but there's nothing so four thousand he's paying for that is but so there's no other accounts that he's spending in uh he has like his personal account okay that's his okay so 4600 comes in how much did you spend last month probably that much why would you still be in debt or going into worse debt i i don't know how much i can't put a dollar amount on it but you have no inkling of what you spend on a monthly basis Probably about$4 ,500.
14:07Okay,$6 ,900. Okay. You spent$6 ,000. It was basically$7 ,000 and you bring in$4 ,600. You do not leave this studio until you download the Simpler Budget app. Okay. Because you get the premium version, so it automatically connects your accounts and everything. Okay? Okay. All right. And there's the community so that you can ask questions to everyone else as well. Where did that number go? What else did I spend there? Oh, we're going to go through it. You better believe it. But that will tell you, you will never not be able to answer exactly how much you spent in a previous month. You will never not be able to answer where that money went to.
14:41You will build up the categories. It will be automatically connected. You get it for free. They get a free trial before they commit to the premium version, which the free trial is good anyway. But either way, you get that. And just like those who sign up for the annual version, I send them a Founders Edition, one of these all signed. You will journal your budgeting process and you will bring that back on and I will read it. Okay. When you come back on the financial audit follow channel. Okay. Okay. Will there be like any wiggle room in the budget for like fun or are we all focusing on debt? What do you want to do?
15:15I mean, I want to be debt free, but I want to have some. What the f*** are you talking about? How about you have fun after you get out of debt? How about you already had fun and that's why you're in debt? How about it's time to grow up? It already looks like you're graying anyway. okay well i mean fun as in like you know twice a month nails done hair you know i don't party or anything he's even against it do some strap on nails that's not what they're called glue on nails press on yeah press on nails okay i will work on it but i don't think i spent that much i can't think of how i would spend two thousand over what i can budget you don't track your no no no used to budget but well congratulations used to is used to why the did you stop You know maybe it should have been a sign When our literal mother and father In law had to pay for our food and rent That maybe we should budget again How long ago did you budget?
16:06In college, my undergrad Why'd you stop? Well I budgeted actually a little bit Before I moved into the apartment In October of 23 Oh good, now we have a massive rent I think we should stop budgeting Why? Well I budgeted to see Because we had two apartment choices So I budgeted the month depending on the rent of each place to see where we could land. Why don't you budget on a monthly basis? The why? I'm not good at following it. So it doesn't make sense for me to sit down all the time and plug in all these numbers and then nothing happens. But you'll never follow it up if you don't sit down. You sit down, you see what you did, and you adjust it for the next month.
16:45You build out your categories dependent on that. Yes, action is required. Well, you think you just build it out and it just happens? Well, I get that, but I would also budget and then if it went astray, it's not like anything bad happened. So I was like, oh, well, we don't really. You spend$7 ,000, you make$4 ,600 a month. Nothing bad happened? This, you have an absolute. Oh, my. Listen, I don't see the paperwork anymore before these episodes because I like to go in blind with the audience and find out what they find out. This is way thicker than I thought it was. That has heft. This is crazy.
17:23it could be bigger I mean I spend it could always be bigger I pay all my bills on time and everything so I mean will that be true will that be true it better be I will lose my shit if it's not and I don't know because I don't go through them again before like I used to I will lose my shit that's what I mean by it hasn't been bad because I pay all my your minimums doesn't mean your debt's not going up yeah I only pay minimums But, I mean, they still make them on time. What do you think your finances are today? Zero to ten. Zero being the absolute worst, ten being the best. I got to get into this fat stack of documents.
18:01We'll never get through this. Where do you think you are? Two and a half. Okay. If you want your Hammer financial score, check it out. Take the quiz, and we'll tell you exactly where you stand at calebhammer.com or click the link in the description below. And if you want to come on the show, and I'll give you a financial beating, give you a wake-up call, get you connected with all these resources, so you get to meet the team. Have a good day here. Go to calebhammer.com slash apply. We'd be happy to have you here. Here we go. Chase Freedom. The freedom to fuck up our entire marriage with a 2 ,490.
18:34Oh my. You are literally, literally$9 away from the max. He's lost trust issues. Who would have thought? I haven't spent on that in a couple months. 2 ,490. You can't. You literally can't. Except for like a$2 taquato or something. You literally can't. No shit. That spending probably went to a different card. It had to have with the amount you spent last month. I don't think so. It had to have. We will see. We will see. $2 ,490.69 with a minimum monthly payment of$80. Okay. So what was the purchase on here? All this interest accruing. What was this? Surprise. I think that one. I don't remember why I got it initially, but less than a year ago, I used it to get hair extensions.
19:29Before a cruise that I went on with my husband and his family. All right. I'm going to bring in some cash. Can I have some cash? I'm going to bring in some cash. I'd like you to do a little math. How much did it cost to get those hair extensions? What was the amount that you spent? The install was$1 ,800. Okay. And guess what? We're going to do a little math. Here's a big fat sack of cash. So what you're going to do is you are going to lay out for me and count out for me exactly how much that will cost in the end with your minimum monthly payments. After you only put your minimum payments to it and interest accrued until it is paid off.
20:04Those hair extensions. Count out exactly what you think it is. I need to do the mental math. No, go 100, 200. One, two, three, four, five, 15, 16, 17, 18. Okay, so you think it'll cost$1 ,800? Well, you said hair extension, so are you asking the whole card? That's basically what the card was. How long do you think it'll cost you total once it's paid off? Only doing the minimum of the payments. $18 ,000, so$19 ,000. That's$2 ,000. At least$5 ,000, my guess, probably$55 ,000. You're okay with spending$5 ,500 on hair extensions. I didn't spend that much. That's what you are in the end. That's what you are in the end.
20:50Well, those were paid off. No, that's what it is in the end. Your card is all the way up. You just replenish and push it all the way up. So in the end, the way the math works is your one-time hair extensions. You think it's$5 ,500. That's worth it? One time, you'll pay for hair extensions$5 ,500. but we won't pay rent we'll pay 5 500 for hair extensions but we won't pay for our own groceries well i didn't even i don't i didn't keep the hair extensions the hair extensions were only good like so it's even so it's even more stupid three months of hair extensions was worth 5 500 to you well after the second is it worth 5 500 to you that's what i'm no that's what i'm saying well guess what either way 6 000 that's what it's going to cost you by the end 6 000 with the way you're doing it.
21:35$6 ,000 for three months of hair extensions. Congratulations! That's why I took them out, so I wouldn't keep spending money on them. Yeah! But guess what? You are still spending a total of$6 ,000 on them that are already done in the trash. Gone! You don't care! Oh my f***ing. I care. That's why I took them out. Poor guy. So that I didn't keep having to accrue all this on the credit card and just focus on paying it off. you're not you've only made the minimum it's nine dollars to the max what the fuck are you talking about you haven't focused on anything you haven't done a single cent of focus you don't know what a focus is never focused in your life what are you talking about nine dollars nine dollars guys this is pretty exciting well i'll zoom in let's talk about this for a second okay so i do a little bit negotiating here and there uh you know when we're having sponsorships and stuff like that and you know i've been working with moomba for a while and i got a little special negotiation for you guys because I wanted to get you free money because if I get money from them, I want you to get money from them.
22:35And then, you know, we're all happy. And the thing is, what I got was exactly what I would want to get if I were putting money in an investing account, immediate returns on investment. So right now I got for you guys and only you guys, literally no other creator has this. If you deposit$2 ,000 into Moo Moo, you get an instant 150 dollars and then 8.1 percent apy on that money that's like a 16 return it's crazy it's it's absolutely awesome get the free money now link in the description below let's do this thing let's make some money focus you focus there's no focus how long have you been focusing no nine dollars that's the focus you've done nine dollars of focus i i used to pay above the minimum payment but you know nine dollars all on time like day like it doesn't matter what you've done before there's only nine dollars available on it so even if you did more than your minimums before it doesn't matter because you immediately replenished it with purchases because there is only nine dollars available and i'm not even spending on it anymore so You have time to get the lady.
23:49Whoa. Whoa. How do I get that through to you? You can't. I know. The interest. Don't jerk yourself off over not spending on it. You literally cannot. You couldn't even go to fucking Applebee's. Could a fellow take a gas. And I don't plan to. Because you can't. I don't. This fucking show. My gosh. how long does this take to pay off with the way you're doing it
24:23probably a lot of years oh that's a great number at least 5 10 I can pay it off quicker right yes but you're not I will there is no indication of that You spend$7 ,000. I could round up to the nearest hundred. Girl, your husband's parents have covered your rent and paid for your groceries. And you spend more money than you make still. Shut the f*** up. You're not going to get out of it by saying, I will f*** you. You would have been doing that. Don't pull that. That is not how this conversation is going to go. Freedom Classic. Chase Freedom Classic. Okay, I didn't know there was multiple freedoms.
25:14oh yes i did 4 369 these balances are insane 4 369 dollars and 31 cents with a minimum monthly payment of 148 okay that's also starting to stack pretty aggressively oh my it's only like 100 130 from the max so not much you can spend here either good and you didn't but you only did your minimum monthly payment$105 of interest what is going on here what is this that was my very first credit card in college oh so we better never pay it off what have you spent on this random stuff probably I when did you I mean it all the way that was the rent that we were talking about oh this is where you put your rent part of it yeah no how much rent did you put on this That one, I think probably two months.
26:09When was the last time you had to put rent on this? I assume then the parents stepped in. Like almost a year. It's been several months. And then the parents stepped in. Okay. Oh, what are they? Do they? Come on. They helped only like they only helped once and said we're not helping. What is their genuine opinion of you? Do you know? Do you even know? Yeah. And? They love me. Yeah. They love me. I love their son. But do they respect you? Yeah. I think they wish I'd do better, but they love me. Yeah, the person that's going to have a kid with their son probably is on point. But this first credit card that I put the rent on.
26:53Who are you moving this conversation? I don't think they respect you. They cover their rent. Once. You're the breadwinner. yeah after you put it on a credit card and now they pay for your groceries you just got married in October how could they have a positive opinion about you? Sounds brutal but how could they? Like genuinely how could they? Because outside of my finances I'm a decent human I'm not great with money but look what you're having to do. You're milking them I don't want them to keep doing it Then why do you allow them to? Because I still have to eat You still have to eat. Why can't you pay for your own groceries if you make above the median household income in Austin?
27:36Not household, but medium salary in Austin and the United States. Your household is, though, as well. I have bills to pay with the credit cards and my car and rent and loans. Yeah, but those were your choices that you got into, so now they're bailing you out? How could they respect that? How could they want their son to be with that? Their son gets with someone and they already have to bail that person out? They agree that we shouldn't be in this financial situation. I'm sure they do, yet they enable it. Just until we figure our stuff out. Which you never have and clearly have no actual push nor incentive to do so because they literally pay for your groceries.
28:20Just that. Yeah, that's a pretty big thing. But they also pretty reoccurring forever. Yeah. Because like I said, right now, my husband just makes enough for rent. But in August, it'll go up and we'll be fine. Look at you. You make a great income. That doesn't matter for a single second. Him bringing in more money won't matter for a single second. You make great income and then you blow it all and more. he doubles the household income let's say in a decade doesn't matter you triple the household spending look at you that's what you've done doesn't matter if he brings in more money without the change of behavior and i i'll change my behavior then why haven't you i i can say i would do a lot of things but if i haven't done a single inch to doing any of it why would anyone believe me why would i believe you i've had good stints like i'll go on like like two months i'm solid you know that makes you look worse right because that means if you do well after this i have no faith you continue and i don't love that i want to be consistent okay so what have you done to fulfill this i i by nature i'm just impulsive so i i don't think you then by either not you need either need to remove access to the credit cards You need to, again, budget, actually see where your money is going.
29:55It literally tells you the day of. I've been meaning to just shred the credit cards. Meaning to, but again, this is lots of I've been wanting to or I'm going to, yet none of it has ever happened. Not one time. I have scissors. You can cut them up at the end. If you're fucking brave enough, how long does this take to pay off? Probably that 10-year mark. No, that gray is going to extend even further down your scalp. It'll be 15. And that's just with the minimum payment? Or even if I pay above interest? Just the minimum, which is all you do. Borderline maxed out. Alrighty. Fill a couple tanks and you're done.
30:42I think I have a little bit more wiggle room to pay above. I just need to figure out what that amount I need to pay. $7 ,000. $7 ,000. what are you talking about I don't think I spent that much we weren't ever in the red or anything it's math it's math it's math it's math okay how much debt do you have just student loans how much debt do you have in total I'm trying to calculate because student debt is 90 probably about 150 You're okay with that It's 160 And you say Your entire life is red You're not a credit card person Obviously so I do what many in the audience Do and all other guests and use the Fizz card So at least it only allows you to spend What's on your checking account Slate Edge That was my second Credit card We owe $4 ,55.50 with a minimum monthly payment of$40.
31:52Another 15 years gone. No purchases, no interest. Is this interest-free? Again, this is basically maxed out by$145 left. I think it's interest-free for a certain amount of time. And that one I got in November of 23. But my sister had just had a baby in Oregon, and it was a whole family reunion kind of thing and I wanted to be able to go. Were you making money yet? Yes, but not enough to pay the whole trip. What was the trip? Well, I had to get the flights for both me and my husband, rent a car, hotel. Couldn't I have Ubered a couple times? Instead of renting a car the entire time? Well, where we got the...
32:36That maxed out the fucking car? No, there were probably other spend... And also rent, probably one on that card. Rent? More f***ing rent? Are you kidding me? Ugh, fees? Was this a transfer? What are the fees? That must have been a late payment. I've never late paid on those. What is the fee then? What is the number? 40. This year so far. Is that not just, that's my minimum payment. No. 40? A fee has been charged to you. 40. Would that be the interest? It was the previous one. Pull up the thing. I'll show you. Pull up the app. I will show you. No, it's not interest. It is interest free until literally four months from now.
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33:18Please tell me it's not deferred. Okay, it's not. Jeez. It's going to be 28.24 % interest once it hits. That's crazy. But as far as, because that card, I had used one. Oh, I guess it was a late fee. I told you. I told you. That's all it is. That is all. I told you. You lied. You lied. You lied! You f***ing lied! You lied! You lied! Hey, he can't trust you, I can't trust you. Who the f*** will ever trust you again? Because you don't even know you're lying! Tired of phone bills that only seem to add stress? We've all struggled with plans that are too costly and complex. But there's a solution. Today's sponsor, Helium Mobile, is here to change that.
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35:23Plus, there's a new referral bonus. For every friend who joins Helium Mobile with your referral code, you could get$5 worth of additional cloud points. And if you're already a Helium user, no stress. You can keep your existing$20 plan. Ready to say goodbye to steep phone bills? Click the link below or head to HelloHelium.com. Download the app and use code Caleb to get access to these new plans. That is HelloHelium.com with the code Caleb. Thanks to Helium Mobile for sponsoring today's video. Now let's jump back into the episode. that is i told how did i even know i have not looked at this they have not told me anything i'm going through it but through your entire setup i could tell with this many documents and how you go about things and the justifications you have used i knew for a fact at some point there would have been a late and it was literally just a month previous come on i saw it in your eyes.
36:20Those White Walker eyes. I saw it. It was one day. It didn't like... Yes! And that is late! And you had a$40 fee! $40! Hey, you have an interest-free card? Doesn't matter! Let's lose the interest anyway by fees! Why were you late? Huh? I probably just forgot to pay it. Why would you forget? Why don't you have a pay? F***ing liar! Liar! Well, I get paid on the 10th, so I just go through all of the bills that I have to pay in that pay period. I probably just forgot that one. You can't forget! Fees! Fees! Fees are being added! Liar! I called that s***! I f***ing called that s***! I've been through enough of these now.
37:09I know exactly who would have a late fee. It's you! One day is not horrible It doesn't matter It is a$40 thing You are in an interest free period But that's not that I don't have a habit of late pay I don't believe you I simply can't I can't believe this statement You told me there have been no late fees And I've seen that this year so far there was one We're a couple months into this year I don't believe you for a single second Because either you're a liar Or you don't know what you're talking about And the fact that he can't trust you Yeah, I understand it now. Jeez. The f***? You're on an interest-free period.
37:50You may as well take advantage of that, but you just lost. You lost it. You lost it by letting that fee accumulate anyway. What's the f***ing point at that point? There is no point. There is no point. It doesn't make sense. It doesn't make sense. I just don't understand why even. Trying to think of what else went on that card. I think it wasn't the Invisalign. That was probably the other thing. Is that why I hear a list? So I have been trying to pay it down so that I can continue making the monthly payments for everything. But I don't habitually just – I don't neglect it. That's what I meant by paying late.
38:39You don't habitually what? Like neglect paying. That's what I meant by. You might not habitually neglect pain, but you act like a bitch. Tell me the incorrect information. Oh, it was an accident. I didn't. I mean, I didn't. Yeah, but how many more accidents are there? Because you don't even know. What? They're telling me that you want to do even more elective cosmetic procedures on this card. After everything's paid off. What? What? I had braces. So they're like around the brackets. It can something with the calcium or whatever. What are you going to do? I'm just fixing a couple chips. Oh my gosh, how much is that going to cost?
39:14You don't have money. I haven't even entertained it because I'm not going to pay for it yet. Your parent-in-laws pay for your groceries and yet you just choose cosmetics over actually leaving an independent life. You did with the Invisalign. You did with the Invisalign. After you've already had braces anyway. Well, I was getting married. I needed to fix a couple of teeth. You need brain cosmetics. You need brain cosmetics. I'll pay for three free therapy sessions from Sondermind. Our audience uses them. I use them. It's good therapy. And I'm going to need a message to this conversation. I can already tell.
39:53This is a blood pressure kind of conversation. I can already tell because I have a fucking liar for me. What are we doing here? It wasn't an intentional lie. I just forgot. But I can't trust that. It was a day late and I blanked. I can't trust that. I can't trust that. It's$40. It's$40 on an interest-free card. It's$50. That is the benefit you are getting. And it's literally, if I saw it for last year, who even knows what I would have seen? Because now I'm seeing only for 2025. If I saw 2024 for all your other cards, I bet I would see late payments with how you did. Oh, wait, this is a day late.
40:24It doesn't matter. Yes, it does. It is$40. Stop. Stop it. Get some help. That card's$15. The other's$15. So, like, are you talking on top of each other? What? Like 15 plus 15 plus 10. So that's 40 years I'm going to be spending on paying off credit cards. Are you... You think that's how... What are you talking about? You think they fucking hold their 15 off until you take care of the other 15? Oh, I see. I see now. I see what you're saying now. No, I get it now. I get it now. Oh, fuck. Oh, jeez.
41:09like i said this fucking conversation's a special little conversation isn't it or we're here we're just gonna i'm just gonna move along just gonna have a little little move along all right what am i talking about next synchrony yes that would be either care credit or Ashley furniture. Ashley furniture sucks. I needed a couch for the apartment. It is $3 from the max. $3 from the max. What are we doing? That's probably the care credit. It is the care credit. You don't have to say it's the care credit four times. What are we doing? I use it for the vet and I used it a couple times for dental stuff.
42:02I assume no pet insurance. And what is wrong with your teeth? You're always f***ing teeth. Everything is teeth. Well, I had some cavities I had to get filled. So, and those aren't. No more candy. I haven't had any cavities since. $89. Well, you're still paying for it. Congratulations. So it's basically a financial cavity. It's f***ing you. You need a root canal now. You have$3 available. It's another 14 years to pay off this. 14 years to pay off this. $89 minimum of the payment. Wait, no. Wait, no. No. No,$250 of purchases. $250 of purchases. $250 of purchases. Why? Why? My dog went to the vet last night.
42:39Why do you not have pet insurance? Because they don't go super often, so I don't want to - That's why you have health insurance. You probably don't go to the fucking emergency room very often. Well, I have - It's like$80 a month. What do you think insurance is? Yeah. Maybe. I don't know. Age and health? Age and health. Oh, my dog, he is - I have two. I have a two-year-old and he's healthy. Okay, that's probably like$45 a month. That's healthy. Okay, and that's probably like$45 a month. So we generally only go like once a year. So I'd be paying more to health insurance. Yeah, yeah, yeah, yeah. Yes, two years in.
43:17Two years in. They have many more years, hopefully. Those will pop up. What are you going to do then? You have no money. You have three. I'm infuriated. What are you looking at? What are you possibly looking at? Wait, I don't want to see a picture of them. No, look at them. Oh, wow. It actually is a picture of them. They're cute. They're dogs. I love them. They're really sweet. That's congratulations. Maybe you should actually be responsible with them. How are you going to afford a big surgery if one of them eats something bad? That's what happens. Trust me. What are you going to do? $3 available.
43:51Those surgeries are like$10 ,000. Huh? Huh? Yeah. How are you going to do that? I don't think an average person might be able to know. You're going to let them die. You're going to let them die. You're right. The average person can't. That's why we do pet insurance. I would find a way to save my dog. You just said the average person couldn't. Yes, I will tell you the way. Pet insurance. Pet insurance. Pet insurance. Pet insurance. Are you actually, what the f*** are you doing? Are you incapable of hearing that word? No, I will look into pet insurance. I'm never putting it in your budget. Perfect.
44:17It'll go in my budget and. I'm just thinking that pet insurance, they would have covered like. I mean, once you hit your deductible, of course. But don't you have to pay up front and then they reimburse you? So either way it would have. Like most insurances except for like health insurance. Then I'll look into health or pet insurance for my children. Well, the$250 is deferred, luckily, kind of. Oh, deferred insurance. No. Oh, no. There is deferred interest of$87 on a small$309 purchase that is about to hit in two months. One month. One month. Oh. One month in one week. Yeah, the care credit does that.
45:04Yeah, the care credit does that. Yeah. The plan was to pay it off. It just. You had so many plans to do things. Other things come up. That's why you don't put it on deferment. If you're putting things on deferment, everything will always come up eventually that you're not expecting. That's what life is. Then everything will be infinite deferment. You irritate me so much. I always have a plan. Then the plan never works out. And then I'm going to do this. and then you never do it. Gosh, I don't know. I don't know. It's deferring. I don't even know the percentage interest rate. Oh, 32. 32.99. That's great.
45:41Just to even give you an example how bad that is, I just negotiated a new deal just for one of our partners. This is like talking about money and how it can actually grow, right? So Moomoo, I always talk about that for our investing thing. The thing I think I just got, and I think we just signed on it. It's like I put$2 ,000 in there, right? I remember the audience puts$2 ,000 or you do whatever. It doesn't matter. Anyone can put$2 ,000 in. They literally get$150 immediately. It's a great return on your investment. It's like 8%. Then there's an 8.1 % APY on there. That is an incredible investment.
46:13That is like a 16 % return on your money. It's unheard of. It's better than the stock market. It's incredible. Yours is twice as much as that. That's how bad this is. What a joke. You're just going to let her hit. Do you understand deferred interest? Yes. That one was. So I paid it. Explain deferred interest to me. Interest isn't applied until six months later and it won't be applied if you pay off everything. And why aren't you paying off everything within those six months? Well, guys, because unexpected things happen. Well, yeah. And part of the reason I have to use that is because I don't have it at the beginning.
46:51It's no longer unexpected if it's expected because it's expected that unexpected happens. So what do you do if unexpected happens? It's kind of like a safety. You have. If something pops up with my dog, then I have. Then I have this to kind of fall back on if I can't put it on my debit. No, you don't. There's$3 on there. What? That will be$3. Well, can you show me? The$2.50. Can we go right now? Can you take me? There is no bet that will take$3. but the$2.50 was from like a week ago when I had to use it. So now I just have to spend it back down to be able to have some wiggle room. Oh, but they're dogs.
47:31They're dogs. Meaning that it could eat something right now. $3? $3? We can go fix them for$3? The only one that would do that is my two-year-old. Okay, so also known as one of them. He'll just throw it up. Yeah, until he doesn't and it gets stuck in his intestine. Hasn't happened yet. Yet he's two years old So I'll get the pet insurance Okay but you don't have it now Where do we go for the$3 treatment Nowhere Interesting What's your credit score I can't remember what the credit karma said I want to say it's low 600s That plus Horrible debt to income ratio Good luck affording the financing at the vet clinic But he's healthy now So You don't understand Man, both of my dogs are healthy too.
48:23You never know what happens with them. They get a hold of a thing of dark chocolate. You need to take them in to do the vomit thing so it doesn't get into their blood. You don't know what happens. Anything can happen. Dogs are dumb. They're smart, dumb. So we'll get the pet insurance. Yes, but that wouldn't fix today. Pet insurance still takes like two weeks to actually implement. After you even find the one you want. what was all this other deferred interest in here and the non-deferred interest that is accruing to 30 % what is that it would most of that is just vet stuff like it's all vet stuff and so you so you've deferred all annual checkups to right now$2 ,500 of annual checkups it just automatically defers but$2 ,500 you haven't dealt with your previous$2 ,500 of vet checkups I'd pay the monthly...
49:142 ,726? Your monthly minimum. Do you not understand what that is? That takes 15 years to pay off without you putting anything else on it, and you always do because you have annual checkups. What are you talking about, lady? Do you not... A minimum monthly payment, if you're still putting money on it, doesn't actually pay off the car. Do you understand that? I need to make sure you understand that. Do you understand that? I do understand that. My hair's about to get as gray as yours. Okay, come on. I do understand that. I need to calculate to see how much I need to pay to actually advance the interest off the monthly.
49:43You know what I mean? Literally, the minimum monthly payment does that. If you're not putting more on there, you always put more on there. That's your issue. Your minimum payment is more than the interest. Well, that was just one little thing. Like, I took my dog to the vet for a follow-up last week. Ladies and gentlemen. No, that's not every single time. I took my dog to the vet last week, and then my other dog had a checkup this morning, and that was all on my debit card. So, I don't use it every time. Because you have$3 on there. That's why you can't use it. We're back to the first card. You would put it on there if you had availability.
50:16If I needed to. If you had a.
50:24I don't use it every single time I go to the bed. I only use it if I if something goes awry and I need to. I don't have the money in my bank account. Then that's that would be the backup. So I don't use it every single time.
50:45I see it's going to be one of these one of these type of conversations oh my bloody I still think there's something to work with here yeah well your new husband doesn't really think so he has more hope than he did before Ashley furniture this one's kind of cheap but wait no well no payments okay yeah wait no yeah $77.82 No interest is agreed $14 minimum to the payment 6 months to pay off And the promotional expiry is pretty far So you'll be good What'd you get? A couch for my apartment That I moved into The couch? Yeah that's the couch that I got In 2023 and that's they had like this promotion going and i just oh yeah it's actually furniture yes a promotion going on is very unique for them
51:52what is this what am i looking at a personal loan yeah personal loan for why for why please about a year ago um i got a personal loan to pay off credit cards
52:11guys i just wanted to say an extra thank you for making simpler budget an incredibly popular app i wasn't expecting it but we literally get like thousands of downloads a day and a lot of you are actually changing your financial future and we've been hearing from you so thank you all for supporting us we just wanted to continue to say thank you and give people the opportunity to try out the app so we still have a two-week free trial in there for the premium version and of course everyone that signs up for an annual version, at least for this next quarter, will get a Founders Edition Simpler Budget Notebook, and it is signed by me, sent directly to you.
52:45So that's a special thank you for putting your trust in us to create an amazing budgeting app. And let me tell you, the features that we're going to release throughout this next year are about to be crazy. I'm going to make this the best budgeting app that has ever existed. Seriously, download Simpler Budget now. It's incredible. The time to take control of your finances is literally right now. I paid them off and I didn't use them for me. How many times do we have to do this? Oh my f -
53:17And how did that work? How did it turn out? Real good? Obviously not. I have three maxed out. As they are all maxed out with like three dollars left to spend on them. What's the interest on this? What's the interest on this$10 ,667.65 balance? I would have to. Yeah, why don't you have to? Go for it. Why would we know anything? Sure, headed into a conversation about our literal finances. When you knew questions would be asked. Good f***ing people. Minimum monthly payment,$331.58. Which at the time made sense because that would have been cheaper than all of my credit card payments combined. That's not the only f***ing factor.
54:03that is not the only factor do i really do i have to explain this to you no then tell me why it's not the only factor
54:19i wasn't paying attention because i was looking for the interest sorry i paid 11 of the principal Hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey. The minimum monthly payment is not the only... Well, at that time, I was paying above minimum. The minimum monthly payment is not the only factor. Tell me what the other factors are. The interest. Okay. Guess what? There's more. There's more. What's the other factors? What are they? What are they floating around? If I have the interest in the minimum, I'm not. Grab them. What are they? Yeah. Oh, yeah.
54:55Find it. You'll have to tell me. Are you serious? Outside of the interest and the minimum. Yeah. I might be just blind to it. If you could tell me. No, I'm going to draw it for you because I think that's the only way to get it through. Can I, let me draw this for a time. Can I draw on a little whiteboard? A little whiteboard real quick. This is what we call credit card.
55:24Uh-oh, credit card. That's not good. I got rid of it, right? Oh, that was so scary. Okay, so we borrow first a loan. Oh, there it is. It's a loan. Oh, did I spell that right? Backwards. Oh, it's a loan. So that means we paid off our credit cards. Oh, what's the other factor, lady? What's the other factor? We saved on our minimum monthly payments and our interest. What's the other factor? What is it? What's the other factor? I mean, they all have interest. What's the other factor? They all have interest. What is it, girl? The years it takes to pay off? What's the other factor? What is it? What are we doing?
56:06What's the other factor? It's literally drawing in front of you. There's two options on this f***ing whiteboard. What's the other factor? What is it? What is it? You'll have to tell me. Are you f***ing... You then spend on the empty credit cards. Now you have double the f***ing debt! Yeah. Are you serious? Are you serious? Come on! Oh, sorry. I'm just... It's Friday here. Losing my damn mind. Oh, in the... Oh, so much. We're going to be here forever. Landmark. What'd you do with Landmark? That's my car loan. Oh, is it? What do you got? What do you... What'd you drive here in? It's a 2020 RAV4.
56:51RAV4? I think I always see commercials on RAV4. Yeah.
56:57$26 ,553.76. I think you've made me... I think...
57:09Oh, you betcha. What did you... What's your little, you know, minimum payment on this car here? 604. What is it? 604. That's insane. I would love to refinance it. my debt to income ratio. Well, yeah, because you're literally stupid with your money. You build it all the way up to your credit limits every single second. So no shit, your debt to income ratio is f***ing you. It's f***ing you because you're f***ing yourself. Because you don't know how to... You don't have to f*** yourself anymore. You have a husband now. Stop. Stop. Stop. Why do this? What's your interest? On that one? On that one?
57:47Well, I mean on that credit. You don't have two cars, do you? No, no. I don't remember the interest off the top of my head. You make me feel like I'm on f***ing mess. What is the interest rate? Pull it the f*** off. Okay. Oh, there's a checking account in here as well. $20. $20. Oh, that's just 15 random dollars just sitting in there. No, it's 20. It is 20, actually. Well, it's not like I owe the 20. That's like a credit. That's what I said. Yeah. I said a new checking account is$20. Yeah, I haven't touched it. How much is it worth, do you think? I'm having a little. The 20? What do you think?
58:21Oh, yeah. No, no, no. The$26 ,853, what do you think it's worth? I think the$20 is worth$20. What do you think the$26 ,853 is worth? That car. What little car are you driving around that RAV4?
58:36The car I got. Are you asking how much the car is worth? Because I think it's. Yes. The car. Well, I got it for$30,$28. but I think it'd probably only be worth like 15. 19. Thank you. Oh, gosh. That took you a long time to get there. Mental math is not my strong suit. No, it's just a question. It's an answer. You can just throw it at anything at this point. I don't give a fuck. The interest rate is 9.79. Huh? How much? 9.79. Oh, yeah. Okay, so you're losing it to the market then, depreciating assets. How's the car? What's the condition? How many miles? Mileage is about 50. Great condition. I haven't had any issues.
59:21I just do oil changes. Good. Good. Good. 19 ,000. We might sell it. We might borrow the difference. We have to get our credit cards, our debt to income ratio a little better than you might sell. You might borrow the difference. You might have a 15 ,000 hour loan instead and you're getting a 10 ,000 hour car out of that 15 ,000 hour loan, 16 ,000, 17 ,000 hour loan. But that'll be better than a 26 ,000 hour loan. And the interest rate will be pretty similar. It'll be like from nine to 12, but you're going to pay it off quick anyway. and we'll probably do that. Okay? Sell the car? Oh my fuck. Yes.
59:51I can sell it while I'm financing it? Listen, listen, listen. You're going to borrow the difference. You're going to sell it. You'll make the money and use the money you borrowed for the difference to pay it off and then you're using the$10 ,000. You're borrowing$10 ,000. You're going to get it$10 ,000. What? Huh? My car's name is Teddy. I love Teddy. I don't give a fuck about Teddy. Fuck Teddy. It doesn't matter. You have a husband. You don't need to be fucking Teddy. Teddy's done. We're done with Teddy. Teddy's going to the pound. Pound. He's done. I didn't even know that was an option. But okay, we'll sell.
1:00:20We'll sell. You're right. Everyone just has their car for the rest of their lives. I have a matching car with a co-worker. I don't know what the fuck that means. I want to be able. It's a good bond we have. Stop having these bonds. Stop having these bonds. Friends. Bonds with our first credit card. Who gives a fuck? Bond with our second credit card. Who gives a fuck? Bond with our co-worker friend. Who gives a fuck? We have a husband. Bond. Bond. Bond. Okay. Okay. What? student loans is that what i'm looking at am i having a little look at student loans yeah that appears so experian credit report so that's just all of the this is why there's so many pages ever it's all just the individual student okay i don't need all these you were wrong about your number of student loans by the way when i I asked you.
1:01:11You know that? You know that? How much is it? Let's find out. Because I thought it was about 80 or 90. Closer on the second one. Higher? I brought the book.
1:01:31$109 ,663. Social work, right? Yeah. Yes. So much. Everyone borrows so much. The income is actually not bad, but it's the income for the... Social work is just my master's. I got a different degree undergrad. The usual general rule is for no matter the amount of schooling you do, your first year's income for the entry-level position of whatever the degree you're getting is should be more, if not equal, than to what you borrowed for it. If you borrow more than that entry-level, you done math wrong. That is the general rule. If we're just talking the master's, then I meet that criteria. It's your entire borrowing for school.
1:02:10That's all that matters with whatever you're going into, your entire borrowing. You don't separate it. Yeah, I don't know any social worker who makes above$100. Exactly. That's why it's sometimes kind of a f*** degree to get. Not that we don't need them. I get it. I understand it. It's a difficult situation. You've got to have the heart for it. But that's also why you grind the f*** out of it with desperate scholarships, public institutions, in-state, community college for what we can. you gotta do it a smart way okay apparently there's federal apparently there's a private student loan somewhere so actually you're federal you were correct it is 86 ,968 that is crazy I didn't even know I didn't even know that there's private that's crazy we've seen some people get some success working with a company like Y Refi for potential refinancing.
1:03:06I don't think with your public service, I probably wouldn't do that. Are you probably trying to go for a... But maybe for doctors, it'd be good. Dental people, but for you, no. You're probably going for the forgiveness. Public student loan? You have to work for a non-profit. Are you not going to? Yeah. As of right now, I don't work for a non-profit and I haven't been looking for any other jobs. Because you have to work full-time in a non-profit for 10 years. yeah no it's brutal sometimes the return on it's not even worth it if you make less than the non-profit anyway and that's kind of what i was looking at with uh if i was to transition to a non-profit i'd have a pay cut of like 15 to 20 grand less a year what about government positions though um there are some state positions but i don't think that's non-profit i mean i could go back but you can qualify in government positions this isn't necessarily like forgiveness but to help in paying off i mean i've worked at starbucks several times so i could always go back as a second job and kind of put stuff away starbucks forgive are you saying no i just to make more money but it's your spending because i love my job i love my job and i don't want to leave no i'm not suggesting leaving your job either i'm just saying with the amount of money are you in you don't owe it looks like not yet i start owing in may okay income driven I was in the SAVE program.
1:04:26Did they even accept that? Well, SAVE program is basically dead. Yeah, it's dead. I was in the income driven and then 2020 hit. And I don't really know. I didn't. Well, it's probably going to be like a$950 payment, right? No. So you're on some kind of program then? Yes. I'm still in a program. I just remember hearing the SAVE program went away. Tell me what payment is doing when. I'm going to move on while you look that up. All right. First mark. Oh, what is this? That's the private student loans. Oh, this is the private? Mm-hmm. Oh. Yeah. Oh,$22 ,750. $750.30. Kill me now. That's an insane with a$240 minimum payment and 96 cents.
1:05:15How much interest accrues on a monthly basis? Is that enough to take care of this? It's a different interest rate per loan. Well, six and ten. Six, ten, and nine. Okay, hold on. Yeah, technically you're paying above the interest that it's accruing on here. But it's going to be a slow f***ing grind. It is going to be a slow f***ing grind to pay these off, let me tell you. How'd you go through school? How'd you decide to do it? Undergrad and everything. How'd you do it? Both schools were private schools. Well, there you... You can do social work for cheaper. Well, I didn't go into my undergrad thinking I wanted to do social work.
1:05:56I figured that out at the end of my senior year of college. I studied pastoral ministries. At private? Yes. Well, that has to be. It was a private Christian school. Yeah. At what? And I studied. In Minnesota? No, in Washington. Seattle, Washington. Okay. Well. It's still floating. But yes, I studied in Seattle, Washington for my undergrad and then started my master's in 2021. I got a graduate assistant. So either way, you were going for a career that didn't make a lot of money. Okay. Yeah. The undergrad. At private institutes. Yes.
1:06:40I've always wanted to just follow what I'm passionate about and just. Sure, but you can do it in a smart way. I followed what I was passionate about. I leveraged to get some scholarships. I did what I was passionate about. I had a lot of scholarships in my undergrad. I was able to, I did borrow student loans, but I was getting a better return on investment with the money I was making. I still made money through my music compositions. You went private. You borrowed over six figures of student loans for degrees that do not pay that. I dropped out. I was dumber. Maybe not, though. I didn't get six figures of debt.
1:07:11I think my scholarships probably equaled to about 30 % of my tuition, and then the rest I had to pull out. Pull out? for loans. Like I had to pull out loans to cover the rest of my tuition. All right. What do you think that now that payment's going to be? Just think. What do you think? It's obviously not loading. So what do you think? In the past, it was 187. As long as I can still qualify well for... Checking account$77. Probably$250. Final answer. No, no, no. $250? What? Okay, whatever. $250. Checking account$33. Savings account$44. yeah it's all oh oh my oh my here we are here we go you good i'm glad you gave me time to calm down since the stupid from before i'm kidding it's all it's all just damn pages of purchases it's all just bull purchases it's all look at that just look at it look at this guys look what i am dealing with here something that is in full control saying i'm gonna do this i want to do this i want to get out of debt.
1:08:13I'm gonna get out of debt. But then I look here and it's all just it's all just it's all just Dutch Bros. Amazon. Zellenau 500. Hat Creek Burger. Racing Canes. Dutch Bros. Burger King. Dutch Bros. Domino's. DSW. Domino's. Good thing we only have$33 and a ticket account. Ben went out$10. Dutch Bros. DoorDash KFC. DoorDash KFC. DoorDash KFC. We're DoorDashing it. DoorDash I want to pay off all my debt I have six figures of $2.00 from a private institute Where I'm not making enough money To even justify it And I'm DoorDash And KFC Jack in the Box Amazon Olive Garden First Watch Which is breakfast Amazon Nintendo Nintendo $45 No that's$4.21 Dutch Bros DoorDash Burger King Burger King Who the f*** even eats Burger King It is Burger King Nobody goes to Burger King Burger King But it Most of the time
1:09:16I don't care. Don't meal prep, meal prep, meal prep, meal prep, meal prep. Tired. You microwave it. It's easier than going to a drive-thru or pushing buttons on a microwave. Spend a million on$40. Domino's Pizza. Amazon. Domino's. I'm not as far. water express water express we're gonna express water can't even drink anymore I'm pretty sure that's a drink anymore DoorDash and Burger King Burger King well the gas wasn't gas then because it was very cheap you went in there you just Popeye's DoorDash we're getting Popeye's DoorDash don't worry guys we're back with Burger King DoorDash then we're DoorDashing Wingstop because we have to DoorDash every second of our life Damino's Dutch Bros.
1:10:09Dutch Bros. Venmo now$14. Dutch Bros. Guys, we really want to pay off that. We're really going to pay off that. Torchy's, McDonald's, Steam f***ing Games.
1:10:20Domino's, McDonald's. Taco Bell, Torchy's, Culver's. And I love Mia Culver's. Don't get me wrong. Painting with a twist. You know what a really good twist in this would be? Being a f***ing adult. That would be an incredible twist. I would love to see that. Dutch Bros. Taco Bell. Dutch Bros. Door Dashing Mighty Fine Burgers. Taco Bell McDonald's. What the f*** is this? What a joke. What a joke. What a f***ing joke. Jeez. For f***s sake, what are we doing? What are we doing? This is crazy. $838 of fast f***ing food. Nearly$1 ,000. You ask me if there's no way I could have spent more than I made.
1:11:01There's no way. There's no way we're in the drive. Yeah, let's f***ing run. we've cut down recently i think shut the if this is cutting down i'm gonna i ain't gonna sleep not that cutting down i mean since that point oh shut the oh i know i'm coming on financial auto so i'm gonna do okay for a week come on that's the usual that's an infinity stone oh that is bingo ding ding ding ding ding ding ding ding guys i've been better for a week before i went on the show where i knew my finances were gonna get called out shut the up
1:11:37I don't think either of us realized it was that much. So once we, now that we know it's that much, we're, I mean, it's not gonna.
1:11:47Chase,$1.95.
1:11:52It's more.
1:12:00I'm gonna retire. DoorDash and Wingstaff. Torchies. DoorDash. Dutch Bros. Apple Build. DoorDash and Torchies. McDonald's. DoorDash and First Watch. Breakfast. Breakfast. McDonald's. Apple. Dutch Bros. Spotify. Benway now. $10. Stop!
1:12:20All well. Step. Mommy and Daddy-in-law take care of us. Just the groceries. Yeah, just the groceries. Yeah, you have groceries taken care of. You spend$900 going out to eat on a monthly basis and you literally get free food. Fuck you. Stupid. Stupid. I'm pissed. I'm pissed. That's the dumbest, most entitled bull I've ever heard in my entire life. That's so stupid. That is so stupid. I'm going to have to. Between here and the post show, I need to like step aside for a second. So stupid. This is so stupid. Stupid. Your minimum monthly payments. minimum monthly payments is$1 ,797.78. Meaning that is a loan 40 % of your net income.
1:13:14Your rent, you do$1 ,000. Because apparently we're separate. No, I did household. I did household. So we're doing the full monthly stupid expenses. What's his student loans on a monthly basis? Student loans right now,$240. For him? Oh, for him? I think three something. $350. Okay, rent,$2 ,000. Utilities, total? Usually$150 to$200 a month. $200. Internet. It's covered by the rent. Our complex covers. Phone bell! One. Why? Why would it be in the three digits? I think it's $140 something. I live here. T-Mobile has good service. I switched to helium$15 a month. What the fuck? I had T-Mobile and then I switched to AT &T.
1:14:03Congratulations, you can't afford it. $150, you said? Yes, roughly. When you pay that off, then you can switch. Gas! Vroom, vroom, drive, drive for both of you. How much? Like$150 a month. For both? Yeah, we don't. Car insurances. Both. He doesn't pay his car insurance. I pay about... I just switched so I could save$80. About$117. Yeah,$117. no groceries TP fund anything else for you guys to survive we can budget groceries $200 for TP fund medical healthcare anything on a monthly basis it's about to end I was paying$62 a month but that I think I have one or two months left and there's no interest on it the other one I don't know what's happening with it what the medical what I had to go to the ER Medical debt?
1:15:00And I didn't have insurance Medical debt? Yes, I thought that's what you were asking But health insurance just comes out of my paycheck So that 46 Yes, but like ongoing appointments and medications
1:15:12There's not like a monthly Thing for that No subscriptions for either of you Pet insurance will do 90 Pet food, how much on a monthly basis? monthly is probably about 160 but yeah it's usually every other month so I I'm so glad we're at the end of this anything else that needs to be in your household budget that I have not taken in account anything else that needs to be in your household budget that I have not taken in a f***ing account that should be all that we spend we have an extra I'm gonna call$750 $250 on a monthly basis. Legal room. How much in student loans does he have? I don't know.
1:16:05What do you think? Probably 30 something. Call it$35 ,000. So$195 ,604. I don't know.
1:16:21Takes 260 months to pay off your debt. or 21 years. Increase his income. Pay it off in 10 years.
1:16:33Declare bankruptcy. And I'm done. I'm done with this conversation. You lied. You misrepresented. You gave horrible answers. What the fuck? I don't understand. I am being a dick right now, but I'm done. I'm done. I don't want to be here. I don't want to be here. I am a person in the end. I don't want to be here 20 years to pay off Go public sector Get that vast majority forgiven Make him go public sector Get the forgiven 10 years Maybe it takes 5 years to pay off the rest of the debt You can do that Go through bankruptcy student loans wouldn't be included in that And that's your biggest chunk So don't do that
1:17:17If we declare bankruptcy We can't get a house in the eventually down the line. You're thinking of getting a house. Eventually. Oh, in 20 years, we're moving and rent will be a lot cheaper. We're going. There you go. Cut down on rent. There you go. That does a lot. Double his income. Get your raises. Work park time. We could probably get this done in about seven years. It is going to be a grind. It is going to be a slog. You better come back on the follow up channel. You better show me. I'm sorry. I'm done with this conversation. I can't do more. Seven years. I think you could do that. Cut the rent.
1:17:52Increase his income. Pick up a second job. Okay. Join us in the post show where I f***ing f*** myself. The state of Wisconsin f***ing dollars last year. Because you didn't pay your f***ing... I didn't know that they weren't getting taken out. You didn't pay your f***ing taxes is why mommy and daddy had to come in and pay for your own s***. Are you kidding me? You're putting payments at the end of your car loan. When did you win? Just once. Just one mispayment! Just one mispayment this year! To watch the Financial Audit post show, click the Join button below.
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