Immature 24 Year Old Doesn't Care If She Dies In Poverty

0:00I'm Shimei, I'm 24 years old, I'm from Houston, Texas and this is Financial Audit. what do you do for a living in houston texas i serve should i tell you like where that's up to you okay i work at the cheesecake factory oh okay so you know like all one billion options yeah it's like 300 well yeah one billion close like 300 is it true that they test you on it and then if you don't have it you get fired or was that like an online rumor like they'll randomly test you on a menu item no whoever like yeah made that up they definitely just made that up yeah okay cool yeah so cheesecake factory how many hours a week do you work um i want to say maybe like 30 okay ish on average yeah not much what are you bringing in on a weekly basis would you say weekly okay so it varies you know because like as a server it's um kind of like a hit or miss but mostly mine is more like a hit most of the time um i'm going to say I would say, it still depends, like maybe four to six.

1:06Hundred? No, a thousand. A week? Wait, wait, wait, a week. You said a week. Oh, is that a month? I'm talking about a month, yeah. Four to six thousand, so we'll say five thousand? Yeah, let's say five, yeah, on average, yeah. Five thousand, good. Now, is that, do they, okay, at Cheesecake Factory, do they, sorry, do they, your cash tips and everything, do they tax them up front or do you get them and then... So, man, honestly, I don't even know how that works. Because we get paid, like, what,$2.13 an hour? And then they kind of, like, take it off of that as well? Yeah. So we have to, like, claim our tips, like, our cash tips.

1:45You do claim your tips? We do, yes. Oh, okay, so then taxes would come out of front. So$5 ,000, that's actually pretty sweet a month on average. Is it really? Post-taxes? So that's, like, what's getting in your checking account? Yes. I mean... Wait, honestly, I don't even know how taxes stories but okay well that's 60 000 a year working as a server so yeah that's fantastic i guess do you like it i love my job really like i feel like i don't know i know a lot like most people don't i guess like like serving because i know most of my co-workers don't really like it but i just love like connecting with people like i just feel like it's in me to just like take care of people is just something that I'm really, it's just my thing, if that makes sense.

2:29Yeah. Yeah, but yeah, I do love it. I do enjoy it a lot. And then I get to like live my life and everything. So, it's pretty cool. Well, if you want an extra thousand dollars, make sure you're subscribed because one of the first 50 ,000 subscribers here will win a thousand dollars and we are 2 ,000 subscribers away at the time of filming this video. So, okay. Get us there by the end of the year. Love you. Share it with your best friend. So, okay, still. I mean, that's incredible. And you like your job. 23 years old, 24. Did you go to college? I did. I went for like two years. Okay, so I moved here nine years ago from the Philippines.

3:12Really? Yeah. I was 15 at the time. And then they actually put me as a senior. Like, I'm telling you this because, like, it's kind of like. Well, I don't know if I'm allowed to say this. Yeah. Tell me. but you have no accent for someone who moved from a country of 15. I feel like there is like a little bit, but like it slips like every now and then. Okay. But it is a little weird because I barely knew English at the time, like when I moved here, and I kind of just like adapted. Wow, good for you. I know, right? Isn't that crazy? Yeah. Okay, sorry. Go ahead and continue your story. Oh, right, right.

3:47So I was 15 years old when I moved here, and they put me as a senior, like in high school. like i was a 15 year old senior i graduated high school when i was 16 okay and so after that well filipino parents they were like okay you gotta do college right after even though you're like young and don't know what you wanted to do but so then i'm like okay well i don't have a choice right now but to go yeah and i didn't know what to do but my entire life i've been singing so like it would make sense oh okay if i major in music so i tried that and then i dropped my classes all of my classes like after two weeks because that was not it music major no no like i basically like jumped from like majors to majors like i went from communications to engineering to education everything so but after that i'm just like no there's no way i don't know what I wanted to do.

4:43So I basically just, um, like finished, um, what is it? General studies. Okay. Yeah. Um, did that, finished it, got my associates for it. And then I tried going back like two years later. That was not it. You did get your associates degree though. I did. Okay. That's cool. So I'm glad you're able to get something out of it. Yeah. Okay. I guess something ish in a way. Well, yeah, no associate degrees definitely have a return on investment. So you did that, you got an associate's degree, you didn't necessarily know what to do, and now you're working at a server at Cheesecake Factory, and the general assumption in the broad audience would most likely be, okay, server, probably not making a crazy amount of money, is that really what you want to do for the rest of your life?

5:27But$60 ,000 a year post-taxes, I mean, you're making a killing right now. And I'm loving my life. What do you want to do? What do I want to do? I actually just had this question asked not too long ago. ago and you ever heard of like a burlesque dancer um no maybe a little sounds like okay so all they do is like perform like sing dance and look like sexy like pretty and cute while doing it if that makes sense yeah yeah okay but that's like something that i've always like wanted to do Like getting paid to do that would be freaking amazing. Okay. Well, what's like the market for that? That's what I'm curious about.

6:11I have no idea. Okay. Like where do you dance? I don't know. That's the thing. Like I've always wanted to do it, but I didn't know what the first step would be. Okay. That's definitely going to take some research. I know. Time to start Googling. And that's why, I mean, I try to, but I get so overwhelmed with all like the, like everything, all the results. So I'm kind of just like putting myself out there. Yeah, I mean, you probably need to get some connections and stuff. Connections and, yeah, like a lot of Googling, for sure. Are you going to show us on camera? What? Dancing? This bird less dancing?

6:44Well, maybe not. I don't know about the dancing part. We need some music in here, you know. Stick to the end of the video and we'll see if she does it. We'll see if she ends the video like that. Because, I mean, for one, I really don't know what that is. Two, maybe someone will randomly stumble upon this video in Houston. and they're like oh we want her i'm like yes that's me well okay that's cool so what makes you want to do that you just really like doing that no i've always just been like singing like that was my thing like i was i had voice lessons when i was a kid like my dad was like okay you got to do voice lessons you got to do piano lessons guitar lessons and so i guess it's like just part of me at this point you know like it's just in me i'm just a performer i guess and if If you were able to pick a career path, that's what it would be?

7:32That would be freaking amazing. Like, honestly, getting paid to do something that you love. Like, I love my job. Like, I really do. But if I wanted, like, I guess something more, that would be it. Okay. Well, then question about your current job. How long could you see yourself doing this? A few years, I want to say. Okay. A few years is not a very long timeline. I mean, it's not a bad job at all. like I come in there and then I just make my money. I get to connect with people. I get to take care of people and I have fun doing it because it's just literally just like talking to them, making sure they're okay.

8:09And maybe you should be a nurse. It's I, I tried, that's what I tried going back to school for. Like for my mom actually. Cause you know, Filipino mom, you gotta be a nurse or an engineer or something. And then there's me, I'm something. But yeah, so I tried going back for it. I could not do it. So now we're here Okay Yeah I mean it's still kind of the same thing Well okay Well that made me a little nervous Because you said You could see yourself doing it For the next few years Okay Few years isn't That'll get you That won't even get you to 30 Okay So what does 30 to 60 look like? What does what?

8:4430 to 60 look like For me? Yeah You know what's funny? I actually don't see myself like Going past 29 What's gonna happen to 29? You're just gonna die? I don't Yeah I'll just fall and die. Just like, this is it. Not the greatest life plan. I'll be 100 % honest. Yeah. I don't know. Well, okay. So with the burlesque dancing and what you're doing now, it's kind of a good combination where you can do what you're doing now to pay the bills. Especially since you're making good money. And you can explore this on the side. And then if it takes off, you can pursue that full time. Exactly. So that's kind of a responsible way to do it.

9:22Financially. Yes. You struggling? how do you feel i feel good yeah what's your situation overall my situation i feel like i'm just cruising at this point if that makes sense like cruising in a good way in a good way okay like i'm not like struggling to pay my bills like okay like i need this much more money to um to pay my rent you know to hit my rent to pay my car note or if i wanted to do something yeah okay that was It's not something that was sent. Oh, oopsies. Only one more month is left on it? Yeah, that's it. Oh, that's awesome. What car? It's a Volkswagen Jetta. Year? 2013. Okay. Yeah.

10:09How many miles do you know? Oh, it's a lot. One. Right now, I think it just hit 128 ,000. And what was this monthly car payment you've been paying? $450 ,000. $450 ,000, wow. That's a lot. is it really kind of when'd you get it well it was okay so that's a whole backstory again um so i got it i want to say like five years ago so i was with my ex at the time and this car is actually a gift to us from his dad is it adding up no not really okay oh my god is that a is that a ladybug i thought it was a spider but it is a spider I thought ladybugs are red. He's orange-ish. All right, go ladybug, go.

11:00No, no. I don't want to hurt it. I mean, just go. Just leave us alone. Come here. Wait, no, no, I don't. Okay. Got rid of the ladybug. How? Okay, either way, we got rid of the ladybug. So what was this car situation? So it was a gift, whatever. Why did you get it? Why did you have to borrow money on it? What happened? Why did I have to borrow money? Yeah, you had debt on it for five years, and you were paying almost$500 a month on it, and you were paying your last note now. Oh, that would be a debt, huh? Yeah. No, he paid for the down payments. It was like, huh. That's not much of a gift. This is a play with words.

11:30Well, I mean, I guess it was. It was like my first adult thing that I did. Yeah, but he paid for probably a... Just a down payment. Yeah, according to that car payment, probably a meh down payment, and then made you lose $500 a month. Luckily, of your$5 ,000 right now, that's 10%, so it's okay, but were you making$5 ,000 five years ago when it happened? No. month not at all yeah so that is not that was um like i was with someone so we were kind of like you know tag teaming if that makes sense well i mean that shows that getting into debt with someone you're dating is bad because guess what you're not dating anymore from the sounds of it so okay that's bad yeah okay so well i'm glad it's almost done good did you borrow money for school no i don't have any parents parents yes very good yeah uh okay cool so you're just cruising right now that's your financial situation cruising yes i love my life good i'm glad let's take a look at your money i don't how much is in your checking account right now i don't know do i really have to disclose that like i don't know i have two dollars do you really i'm just kidding no oh do i have to say that out loud?

12:45Yeah. Why? Well, I mean, I don't know why it matters. It's just money. I just don't want to say it out loud. Well, how much is in your checking account? I don't know. Let's see. Right now, not much, not much. Let's see. I have like my cash like laying around in my place. Oh, right now it's 5 ,000. That's it. Wow. That's a lot. For a For a checking account, we'll get to all that. For a checking account, that's a good amount. How much is in cash just laying around? I have no idea. How much do you think? Guess. Round number guess. Oh, man. $1 ,000,$2 ,000,$5 ,500,$50 ,000, a million. Huh, yeah, huh.

13:28That'd be nice. Yeah. I don't know. Because I recently just put in money, put in all my cash tips into my account. So I want to say, yeah, let's say probably$1 ,000 or$2 ,000. Okay, so you have like$6 ,000 to$7 ,000 then checking in cash. Yeah, I want to say eh-ish, maybe. Now on here, we're making payments to our Apple credit card. The Oasis web payments, what's that? That's my apartment complex, yes. $941, Capital One mobile payment, so that's another credit card. and you're sending a lot of money out,$450 for cash acting someone. That's the car. So, oh, that's not even in your name? No, it's not yet.

14:13So that even, all this. It's a lot, huh? No, no, no, that kind of sucks. I wouldn't want you to have car debt. But if you're going to have it and you're almost done with it, it may as well at least have helped your credit. But this sucks. You're just paying. You're literally paying for someone else's credit to go up. I mean, it's not like I needed it for my credit. No, I know, but still. It's just like, okay. I don't know anything. Are they going to transfer the title to your name? They will. Yeah, they will actually. Yes. They're very nice people. Apple bill,$36,$40. Cash apping out,$785. Another Discover payment.

14:47That's a big one. Then ATM cash deposit. So that's a lot of the money because a lot of cash. And that is$4 ,310. I mean, that's fantastic. Then cash apping out,$350. So you send a lot out for a cash app. Well, I think that was just it, though. So like$450 and all the other stuff is probably just someone asking me to like cash up them in return for cash because they needed it for their card. You know. Okay. That's about it. And then this is one of your credit cards. So we're getting some C tickets, Lander 161. Sorry. EDM. I love EDM. Oh, okay.

15:29Mirka, Amazon, Amazon, Ikea, Lupe Tortilla. Oh, I love Lupe Tortilla. Yes. I was on a date and I paid for it. So good. Amazing. Why'd you pay for it? Isn't that kind of... Because I felt like it. Oh. Well, if you can and you feel like it, you can. Yeah, I have this weird thing where I don't like people paying for me. And so I was just like... Hey, you're breaking down social standards. Nothing wrong with that. Chipotle. I love Lupe Tortilla, though. I really want to go back there all the time. You went back to Lupe Tortilla. Oh, man. The flay. The fajitas. The queso. The queso are bomb. The queso is bomb.

16:05It's so good. Uptown Convenience. AMC. AMC. AMC. What did... Oh, I went to do movies by myself to go watch Black Panther. And then I fell asleep. Yeah, the movie was pretty mad compared to the first one. But AMC, out of all theaters, you went to the worst theater ever made. Well, it was the closest one. I didn't care much. Raising Cane's Phil and Desk And Mingo's There's a lot of money spent on here But again You bring in A lot of money I guess Then an Oh yeah Nevermind Then you're getting some cash back Do you have a balance on here Do you ever hold balances Or do you pay it off Every month What do you mean Your credit card Oh every month Like at the end For both credit cards I have three I only have two Huh Okay Oops We'll look at the other one in a second on your phone.

16:55And then on your Apple one, Spirit Halloween,$103. Expensive Halloween. That was a costume. Oh, that's okay. Shocker. That's what you got from Spirit. Shocker. Peppacitos. Barnes & Noble. Starbucks. Cheesecake. Cheesecake. Oh, you're spending$30 at your home place. Lupe Tortilla again. Cava. and AutoZone, Discount Tire, Jerry's Grill, Amazon Prime, McDonald's, Ifly, Pluckers, love Pluckers as well, JCS Galveston, JRS Bar and Grill, JRS Bar and Grill. So again, lots of money. JRS Bar and Grill karaoke. 600, it's almost$700 spent there. Probably similar there, if not more. What's the other credit card?

17:46Pull it up on your phone. Let's see. Which one did I send? Okay, I think it might have been Discover. Oh, okay. Do you want to hold on to this? Once you have it pulled up, yeah. I guess this is like the recent ones. Where Amazon purchases an Airbnb, an Airbnb, Amazon, Airbnb, Amazon, Amazon, Spotlight, Karaoke, Katahd's, SSA, Houston, Cheesecake Factory. Sometimes I pay for my food, yes. PP Fresh likes squeezing you. Who? What did he say? No. What? You're getting messages, sorry. I was cool. That's what they said. That's so funny. What? Amazon, Amazon. Yeah, they said they like squeezing you 10 out of 10 would do again, so.

18:34Shout out to PPS. No. Molly's Pub. Oh, my God. Burkari. Up to on convenience gifts. Utility payments. Sea Lights. $205. so you're spending a lot of money you're like not you are spending a lot of money but you make good income so it's not necessarily bad is that a lot? I thought it was good well you're spending like close to a thousand dollars on three different credit cards each so that is a lot and then of course we have rent and stuff, what is your rent? my rent right now they actually just raised it so it's not a lot man, I forgot,$750 roommates? Nope. How many bedrooms and bathrooms? It's a studio.

19:20Oh, okay. Pull up your credit card? Credit. Let's see. Okay. 760. No, this is great. This is great. Went up 50 since the last time you opened it. Let's see what changed. Oh, it looks like it was relatively that high. Then it went far down. Likely just looked at a bad time of balances, even though you're paying them off. And then, you know. Yeah, I don't even know how that works. I just. Well, for someone who doesn't know how it works, you have a good credit card. I don't know about a lot of things. I just do things. I really... Payment history, 100%. No derogatory marks. Credit card use, 1 % because you pay them off.

19:55Credit age, that's kind of what's holding you back. One year, three months, very small. Total accounts, three. It's not very diversified. That's kind of why I wish the car thing was on there. And then two hard inquiries. What, you think it'd be at 800 now? Probably high 700s. Then Apple Card, Capital One, Discover Bank. Those are your only open accounts. Okay. So, good. Yay. Good, good, good. Thank you. So, do you have a savings account? I do not. Ah. So, all your money is that checking and that cash. $7 ,000-ish. Mm-hmm. So, you're doing okay at 24. You have a lot of spending. Don't have an emergency fund.

20:41You don't have any retirement. Mm-mm. You're about to have a paid-for car. and you're paying off your credit card balances all the time and you have seven thousand dollars saved up you're doing okay okay are you ready to become an adult what does that mean uh as in getting your finances in a decent place where you're great okay sure no i don't think so you don't want to what does that mean well i'll tell you you ready okay this is what it would take essentially so for your living situation you have a pretty small rent what i would do is for the next month just try cutting back a little bit on here well first step make a budget i don't like that what don't you like about it i don't know i just like if you're not even gonna start by making just the most simple budget that's the most basic thing anyone can do when it comes to money i just I feel like making a budget is more.

21:35I'm sorry. I feel like making a budget is restricting myself. How's that restricting yourself? You're just telling yourself what you're spending. You might even be able to give yourself more fun spending if you do it right. You just know where everything is going. And you lay it out at the beginning of the month. You're not restricting yourself. I feel like I am still. Plus, if you're doing more than you should be right now, then you kind of have to restrict yourself. Why? Do you ever want to retire? Sure. Not really. No, you want to be forced to work at 80? I'm not going to live that far. You want to be forced to work when you're not able to work?

22:09No. So you need money then on the side, right? Does that make sense? Okay. Are you following along? Yes. Okay. Yes. Are you okay with having... What? Sorry. Just funny. Okay. Yes. Are you okay with having like an extreme emergency pop up and then all of a sudden you don't have enough money and you can't work? What would you do in that situation? I don't know. I'll figure it out. Or you could be prepared. Yeah, sure. You are in such a good spot to, like, be in a good spot. Okay. I am in a good spot, though. You're in an okay spot. You're not in a good spot. Okay. You don't have an emergency fund.

22:49You have zero retirement in the best decade of compound growth by the time you retire. So. You're not in a good spot. You're in an okay spot. Okay. I get it's all giggles and like fun and jokey jokey, but do you not care about your financial future? Is it not something you even care about? Do you not want to be wealthy? No, not really. No? It's not like, it's weird because like that's not really my goal. Like I just want to be happy and content. But like. Okay. What does happy and content look like to you? This. My life right now. So if, I know you keep saying, I'm going to die early. If you're 80 and you have nothing saved up and you don't have a home because you never saved up enough money to get a down payment on a home.

23:38Okay. And you're getting cheap car to cheap car because you never saved up enough money to get a nice car. You're getting such a far age. Are you okay with having to do exactly what you're doing now when your back limbs and everything else hurts when you're 80? No. Bending over and all that crap. But then I probably won't be. I don't know why why do you think so why do you think you won't be I won't be what you just said I probably won't be no because I mean my living situation is probably going to be different like who knows I probably have a family by then because you're 80 like what do you even do when you're 80 well you probably have nothing if you're not preparing for it nothing you're doing this if you don't prepare for it does that not make sense it does you got a plan for some things I know but it's like i feel like my mindset it's like so different like what's your mindset then explain it like that's what i'm saying like i feel like i don't see a future that's like that far okay that's immature it is i guess but like that's it like that's literally it for me like i don't see myself like living past 29 which is like that doesn't make sense so what can we do to restructure your mindset to a more mature point where your future actually exists.

24:55I don't know. Why would I want to do that? So that you're not having to be forced to do this in your later years. A manual serving job when you don't have any retirement and your social security won't support you. Okay. Your healthcare costs will be higher than Medicaid will pay for Medicare and all that stuff. So I feel like that's something that future me Would need to worry about No future you will be pissed At past you for not thinking About it Why don't you care About this I don't know I just don't Do you ever want to buy a house Not really I just don't see the point of it Okay I'll tell you the point of it What is the point of it Because if you buy a house and then after the 30 years of paying on it But then all of a sudden you have no living expenses except for property taxes.

25:48And then when you are in a point where you're just taking money from retirement because you don't have to work to live anymore if you get this in the right place. You don't have a house payment. You don't have anything. You own real estate. You have equity in it. It's growing. It's giving. You talked already about wanting children at some point. It passes on something. Okay. You don't care about that? Not really. What do you care about? Just living. what does living look like to you living is just experiencing just like experiencing things like different things meeting new people connecting but i don't know that's it i don't see how being responsible limits that i don't see how creating a budget limits that you make good money you could do those things just in a proper way and making sure that you're set up in the future okay you You don't want to limit yourself in the future, do you?

26:42No. But you're kind of forcing yourself to if you don't mature and start planning for the future. I don't know what to tell you. It just doesn't. So let me do some basic math for you. Okay. Okay. So you could be doing what you're doing now because you don't save a single cent for retirement. And you'll be forced to do this by the time you retire because Social Security won't do anything. So you'll be working some job that you don't want to work in your later years because you'd rather travel the world and be able to make those connections and do all the things you just talked about without having to worry about work.

27:15Or you could do the mature choice of setting 20 % of your post tax aside right now. And by the time you retire, you could have$4.2 million. That is a lot of money, huh? It's a lot of money because you make good money. But you don't care about that? Not really. No, because you just want to work and die. It's not even that. I'm just not working and die. I feel like I am living. Right now, yes, because we're okay living right now. Yeah. You're not able to look beyond even a year of your life, are you? No, not really. I don't know how to frame. Like, I showed you what it would look like if you did it well.

27:54I showed you what it would look like if you don't, if you continue this path. And yet, it's nothing. I just don't think about that. Well, what I would do were I in your shoes, and I'm going to do this briefly because I know you're not going to do it. No, no, I'm going to listen. Yes, let's hear it. I'd budget out 50 % of your income will go to needs, 30 % to wants, which is a lot of money going to wants, and 20 % to saving. Okay. Your$7 ,000, I'd cut back for a month, just a month, get that to$10 ,000, which you can easily do with your rent and everything. You just keep all your expenses, including some of your fund expenses, to$2 ,000 and less.

28:33$3 ,000 that goes to there put in a savings account that's an emergency fund of$10 ,000 you only touch it when something bad happens like your car breaks and you have to go buy another car so you get a$10 ,000 car in cash then you save it back up or if you get injured and you have to you know sustain your life while you recover something like that or something medical happens that's why it's called an emergency fund because they're emergencies they're unpredictable okay yeah which a lot of people don't take seriously like you because again we can't picture emergencies that's why they're emergencies You can't picture them.

29:06And then from there, I'd continue the budget of 50%, 30%, 20%, 50 % of needs, 30 % of wants. You can increase your wants to 40 % if you decrease your needs to 40%. And you can do that. How do you decrease that? Huh? How do you even decrease your needs? Because your$750 rent is pretty chill. You're not going to have a car payment. You could minimize your grocery spending. You could minimize things in your needs and amplify the other categories. You can swap it around if you want. but one thing we definitely want to hit is making sure 20 % investing 20 % is what got you to that millions and millions of dollars by the time you retire so that's essentially just what I would do for the rest of my life 50 30 20 and you could do 40 40 20 or you could do 30 50 20 50 on fun that would give you a lot of experiences that would give you 2 500 a month to spend on fun people dream of that and then give me your thoughts on this give me your thoughts on that on what the 50 30 20 on everything I just said get an emergency fund and then budgeting out and then saving for retirement and allocating your money properly on a monthly basis okay so it's more like there's more limits I don't like limits that's a thing that's such a child that's a toddler brain What to tell you?