Karen Wife Faces Financial Infidelity | Financial Audit

44:40That's our vice. Mine too. I can shake my titties and I'm a man. You're not supposed to do that. Care credit is that was for a dentist but it's the medical card. So no interest for 18 months but that's... But we know how you guys do with no interest. That one I always I've had balances on that one before but it's all medical stuff. okay is this how i'm going no no i haven't used that card in a while but then i had to do a a dental thing like a few weeks ago so and is that this that's that yeah there's 550 yeah okay well you had fees 30 this year so far promotional balance this is deferred this is the third interest the third interest is already starting to accrue so you must pay this off by by the end of the year.

45:34Not a problem. You have five months to pay this off. Okay,$500, five months. Where's my calculator? It's buried under a pile of debt. $100 a month. Who would have thought $500 divided by$500 is$100? Okay. Tengo que pagar $100 al mes para no pagar el interés grande. Okay. Grande. Yeah.

45:56That's my second card. Quicksilver number three. 2 ,926? Mm-hmm. 2 ,926.34. It's an$80 minimum monthly payment.

46:15No purchases. Thank you. After everything, we made it. We're not purchasing. Okay. Wonderful. Still accruing$46 of interest, but no purchasing. the balance is high the minimum monthly payment is continuing to stack on our never-ending path towards minimum monthly payment supremacy oh this ending holy okay this is another car capital one that's my car we have a pathfinder that's mine okay this one's yours here we have a okay your principal balance is a fourth of what his is have you had this for a while no i just bought an older car thank you see we can do it we can do it you should have got an older car it's too late five thousand seven hundred fifty eight dollars is owed three hundred eighty four dollar minimum payment you guys are so lucky your household income is a hundred thousand dollars a year if not more because of the extra side business 17 percent interest rate though 17 did we shop it around did we apply for different ones did we go to our credit union did we get anything it's just uh i know the higher interest is because Because my credit isn't that good.

47:26What is your credit? $700 and something? No, not anymore. No more? It's$620 something,$640. I think you could have got closer to like 12 % if we shopped around a bit. Maybe, maybe not. That's what I ended up with. Well, yeah. Okay. And it was the kind of the car that I wanted. Oh, yeah. What's it worth? um i don't know probably not that much it's a 2003 pathfinder what do you think it's worth uh maybe three four thousand pretty good three thousand okay so you are underwater on it somehow that's you know all that you know at a 17 percentage is right underwater at a 17 percentage was right okay i try to make at least 400 the payment there that you see that's what i make every month a little tiny bit over i don't know if it makes a difference i'm curious about that i'm curious about that why what's the curious noah says we have cookies and asking if you want cookies okay i'm confused but i want cookies he also says if you want a gold star parents quick reality check what's more important than protecting your family probably nothing right and that's why i'm excited to share our sponsor fabric by gerber life fabric is made by parents for parents and it's all about having a plan in place to protect your loved one's financial future in case the unexpected happens.

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50:16So what are you waiting for? Head to meetfabric.com slash Caleb and join the thousands of parents who trust Fabric to protect their family. That's meetfabric.com slash Caleb, and thanks to Fabric for sponsoring this video. Wait, what did you do? What did you do? What did you tell me? He's trying to do a butt to you. I try to make an extra$20. I don't know if it really makes a big difference. He wants a gold star. You can fight him in the post show. He's going to come out here and you can just go. Well, now he wants to cut it. So never mind. I was trying to tease the post show. Okay. Yeah. I don't know if it makes a grand difference, but I try to make a little extra$20 principal payment every month.

51:03Yeah, I mean, okay, so you've brought that up. You've brought that up for a couple cards. Okay, so what is our strategy there? I'm genuinely curious. I would love to know what you think we're doing when we put just an extra couple dollars towards all our debts across the board. It lowers the amount of time or the amount of interest you pay because it lowers the amount of time that it's stretched out. You're attacking the principal amounts. So less is a million inches. Yeah. So typically in the debt payoff journey, we usually talk about avalanche or snowball. Have you heard of those? Not when it comes to finance, but what does that mean?

51:42Okay. So snowball. So you've watched the show, haven't you? Yeah. Yeah. I just probably just didn't focus on that term. Okay. But I mean, I can get the general idea of snowball and avalanche. Yep. Snowball, you're paying off your smallest balance at a time. whatever's the smallest that's the one you're paying then your minimum monthly payments is going towards everything else the reason you're doing that is because one you get a quick reward in your brain that you're making progress could you pay yourself your 500 000 your 500 debt and also the minimum monthly payment that would have gone towards that is now rolled into your leftover money that starts going to the next debt and all of a sudden we have more and more and more and more leftover money that's going into the next step that's the snowball method avalanche method which technically pays off debt quicker uh with less money over time being put towards it is paying off your highest interest rate to your lowest interest rate no matter what the balance is on the card while doing your minimum payment on everything else and the reason we're doing that is because obviously if something's accruing 40 percent inches or something accruing two percent inches you're paying off the one that's accruing a bunch of inches first that one gets you there quicker psychologically people have more success at least in this environment with the snowball method because you see those wins a little quicker which allows you to which encourages is you to keep going but if you're really disciplined which then avalanches typically the best financially mathematically speaking but we don't even talk about money so i don't even want that to be considered in your guys's picture okay so it's typically not an advised debt payoff strategy to put an extra five dollars towards all our debt across the board because we're just we're really not making momentum anywhere you're not paying off a high interest rate card usually I would do like an extra 50 or more like on the credit hi I'm here to pick up my son Milo there's no Milo here who picked up my son from school streaming only on Peacock I'm gonna need the name of everyone that could have a connection you don't understand it was just the five of us so this was all planned what do you get to do I will do whatever it takes to get my son back I honestly didn't see this coming these nice people killing each other All her fault.

53:44A new series streaming now only on Peacock. I don't know if it's an example. We're not we're not really we're not making progress on a small debt to get rid of extra minimum payments to put towards something else. We're also not making progress, substantial progress towards a debt that has higher interest. So this is we're not making any substantial progress when we do it that way. So you're saying it's better to take all those little extras and just do it towards one for now. Yes, absolutely. And we'll talk about that at the end. Okay. But we have more credit cards. That one, I can, I mean, it's.

54:17Was this a timeshare? Oh, no, no, no. This is a credit card from Chase Bank that's connected to the Marriott. Yeah, because we love to travel with money we don't have. And that's why this has a balance of$4 ,882.72. That one, since we moved from Houston, from Oregon to Houston, we used that card three years ago. so we uh we use that card to do our like our expenses moving expenses and since then i have had a really hard time trying to lower the interest and that's not even lowering the interest i mean not the interest the the balance but the thing is before i used to have things automatically withdrawn from there to pay stuff so the balance wouldn't go down and and then i took it out you You know what makes it really hard to lower the balance?

55:08Is to keep making purchases. You know what makes it hard? Doing the auto payments for certain things. Missing payments. How about that? How about missing payments? That makes it hard to not pay it off. 100 ,000 dollars a year plus. That's not a usual thing, but I did it twice. Oh, bringing back a classic. You really are collecting all the infinity stones. It's not a usual month. I haven't heard that in a long time. That's actually kind of funny. That's a throwback. are you yeah i usually don't forget but i forgot that month so yeah it's a special unusual month guys uh well i mean it's the month that i'm looking at so that's really all i care about and there's another one yes is this everything you hope to do be or do you hate me right now uh no it's okay it's opening my eyes to things i didn't see before so it's fine i mean i'll deal with it that's the point yeah i know it's hard to get called out guys so i do appreciate you being here i really do and i know this is a hard first step and i know i'm quipping a little i see the number in my life is terrible now more terrible life isn't terrible life is he says he sees the numbers now now he feels no i know but but this is the first time you're knowing it meaning now we can get together create a plan and actually figure it out and you know what if we didn't know it you might not know that life is terrible it might feel good in the moment but we would end up in a worse position so this is the first step to make sure that you guys actually live a good life in the future we have to get there okay we have to get there so we got to get through the debts because we missed a payment usually it's 166 hours i think of course late fees are added because we're not paying on our bills tell me because that's the total fee this year so far but 100 811 dollars in interest in this year so far for this card 107 dollars and 78 cents in interest this past month 351 dollars is owed right now because we're late we paid it good you back paid good don't miss it again infinity stones collected so far this this uh episode not a typical month a secret payday loan from the husband two underwater cars at 15 interest a mother timeshare i'm saying in the words of the late great noah late payments

57:34motorcycle my his motorcycle can you get rid of it he's planning to use that instead of his car to get to work. So you're going to sell the car? No. No. We can use the car. Sell one. No, we can't. We can't sell one because, I mean, he can't use his motorcycle when it's raining outside or and he can't use the motorcycle when he needs to do jobs, his side jobs. And what other one? And when can he not use the other car that he has to use a motorcycle for? No, he would use it just to go to Oh, congratulations. then we are uh selling the motorcycle yeah have we looked at this number yet guys remember when you just said you feel terrible yeah if we can wipe out one of the debts like this isn't even a consideration are you gonna sell it it's his motorcycle but i mean i think it's that's why i loan isn't it like uh it only owed 1 000 you're right it is a smaller loan so this actually doesn't make progress i just saw it and i was like let's just get rid of because we don't need one thousand two hundred dollars eighty nine dollar minimum payment but again it's just it's the stack this will just be one of the quickest ones we pay off what's it worth what's it worth Do we know what it's worth?

58:59We don't. If you could pay it, because if you could sell it and you got like$5 ,000 for it. No, he only paid$3 ,000 for it. Like that's from the dealer new. It's not an, it's like those little, it's not even. It's a small motorcycle. Yeah, it's not a big thing. So if it new cost$3 ,000, I wouldn't think it costs that much more to sell it. What's the interest rate on this thing? Oh, 23%. what are we doing where am I okay wow that is all I could print out for the student loans oh my gosh there is more yeah because you went to a lot of schools there's more than the 52 ,000 there's like 150 ,000 more that is the did you guys even know that I put it in the original list that's crazy saying that in yeah total it should be like a hundred yeah why did you need the infinite amount of schooling with all this money that needed to be borrowed you didn't need your master's degree to do what you're doing now i didn't know that at the moment they kept convincing me that i did i got to i devry devry your school the one that wanted you to keep giving them money isn't that a private institution yeah so absolutely no they were selling you me so but are uh the government loan like the so they're all federal except for those these are the ones that are not these are consolidated well i mean it's the oh some of them are at 18.5 interest rate student loans at 18.5 interest rate i've never seen that in my life i've never seen that in my life you collected a stone i didn't even know existed that's what they offered me at one of the loans you took it when did you take this uh years ago many years ago i don't remember it was many years ago but i i had to do the private i mean because they had classes at night time and i had to do a full-time job i saw the unsubsidized and subsidized loans with federal.

1:01:21No, all of them are under the consolidation of their signature collect loans. We have$52 ,000 in private student loans. The lowest interest rate is at 5.3. I'm not going to throw up over that, but there's so much at 18.5 % interest rate. The other one is 100 and something thousand. In federal? Yeah. Why haven't you tried to do any kind of like working for the government for any public student loan forgiveness or anything? because that's the only way out of this. They need accountant somewhere. They have to. A non-profit. A non-profit. Okay, well, I have to find one that will pay me enough, I guess.

1:02:02I mean, at this point, I mean. But at the moment, I'm only paying on those and the minimum payment per month is$205. The other ones are not in payment right now. $205. why the i have it deferred at the moment oh i can't well like you can see i can't pay all of that i agree i agree but just always pushing the deferment because you know what's happening in all these loans yeah the interest is collecting your interest is getting and this one sitting at 18.5 with a lower rate and then a lower minimum of the payment then you would need to be paying at least 600 to be making any kind of progress on that 650 a month that's why i and we're just allowing it to die so this is why we're fleeing the country uh well i mean they do have that well someone told me or i saw in there that that 25 after 25 years you can be forgiven if you're like all good listen potentially so this is the thing about this is the thing everything student loan right now this is such a hot topic after the uh the biden proposal a couple years ago right now like the save program for example in federal courts it's getting thrown around it's getting slashed it's getting it's getting upheld it's getting destroyed and it's all that's gonna go to the federals uh probably to the supreme court at some point and the supreme court hates any kind of student loan forgiveness it seems like and the student loan forgiveness in terms of not even that much for me for me it's not even it's like oh hold on you borrowed the money this is the taxpayer taking care of you so don't pretend like it's nothing no i know it's the money he's earning it's the money he's earning the money he's earning like so it's not like it's nothing yeah i'm not saying i'm anti-forgiveness or anything but pretending like it's nothing that's gross no no no it's just saying that the even if they do approve it and everything which i would appreciate it's still i owe over 150 000 so and i thought maybe this would be a bankruptcy conversation but these are student loans so it doesn't even matter no yeah yeah and then when it comes to the 25 year thing so what i was talking about with that is it really depends on the department of education a lot of the forgiveness stuff is really dependent on the actions they're doing and what they're the loans that they're forgiving and just you know who's in charged there and you know i don't know what administration is going to be in charge at that time what if they're just beyond anti-forgiving any kind of student loans even like i don't know man it's it's it's there's just a big risk right time right place sure but i that's just well i mean i figure uh yeah if if it doesn't work out i'll still apply for those you know the the income-based one so which means you're just allowing it to accrue interest forever and also income-based you guys make a hundred thousand dollars at some point like maybe the next department of education is not going to find your income acceptable for income-based repayment how does this continue oh is this a mortgage yes the my condo in or portland oregon i rent it out I have a con that's the loan for the condo and uh my payments with the mortgage and the HOA together that I have to make is approximately 900 and I get rent from the person in there for 1200.

1:05:15Do you pay a rental property management company? No. Okay that's directly. Are you setting six percent aside for any future repairs and vacancies? No. Well do you collect from them? 1 ,200. And I approximately... Well, you should be setting 72 aside on a minimum on a monthly basis. But it sounds like you're at least keeping up. I'm sure there's months that you don't, though. Things break. No, I mean, probably. I'm pretty sure. But my tenant doesn't call me. He just fixes it. Because that's what he does. Yeah. Now, at some point, obviously, they might move out. Rental market might take a turn. but what concerns me more because i also own a condo for rental unit it's the one thing it's the one i wish i didn't get it's okay now because luckily the rental market picked up in that area but condo associations unless you're on the board you pretty much don't have a say are you on the board no yeah they can raise that crazy yeah and they could also be like oh guys we need a new roof for this building looks like everyone owes a couple thousand bucks uh every year they raise at like 20 bucks at least.

1:06:25Yeah, wait until they need to fix a pool or something. It's right now at like$310 and when I first bought it it was like$180. Exactly, condos for rentals. Yeah. I know now. What is it worth? Have you checked? Last time I checked, which was maybe like two years ago, was$165 ,000. Sell it tomorrow. I can't sell it for another couple more years because I got a loan from the county in Oregon, and I have to have it for a certain amount of years. So two more years. That's insane. That's so crazy. They gave me$20 ,000 for down payment. I get it, but do you know how much progress we could make? We could change your life with this extra$80 ,000 after fees and everything.

1:07:16$75 ,000, let's just say, to be conservative. of$75 ,000 in cash in your hand getting rid of this rental property that cash flows at like 3 % that you could change your life you can change your life and you literally cannot what happens if you do do you have to pay it back yeah the 20 ,000 I think a couple more years I think it's okay like I have two more years hmm I'm trying to think if it's worth the I'm trying to figure out some math so you have like 100 000 hours in interest rate accruing things that aren't this condo essentially let's just say an average is out at about 12 interest rate okay how much do you have to pay back 20 000 yeah if i sell it now we would want to do some critical math but if this debt all sits here without making any progress at an average of like 12 it's going to accrue 24 000 hours in interest over the next two years so technically it actually might make more sense to sell it that is not a guarantee let me be very clear we need to get some minutia math on that but just gut take you actually might make more selling it now and paying off the debt than allowing the debt to continue and sell it in two years we would need to figure out what the actual based on all your debts what's the real interest that's going to happen over the night it might be higher might be lower actually very much could be higher because of those student loans and those credit cards are like 30 percent there's a good chance where if you sold it today instead of two years ago and paid back the two years from now and paid back the twenty thousand dollars that you'd actually make money by putting a lot of it towards the debt but then again but then again you'd only be putting like fifty thousand dollars towards the debt in that case it would still be accruing some interest half of it would still be accruing interest so the math in the end still might be closer to break even i don't know if you're willing to sit down and actually do the math math math you'll you might be able to determine that you'll you'll make some money and also will they know will they know oh uh yeah because there are something in the in the loan for the bank like they have to let them know but the county why would they want you to keep it for them i guess so it's not it's discouraging flippers but what it's doing is it's preventing inventory like that just overall hurts the housing market for the average buyer like it's an it's an interesting program i get the assistance part but the that rule it's probably to discourage a lot of things to get that condo at first because i even had to take like a two a two-day class to lower my interest rate because they wanted to give me a higher than the three point whatever they gave me oh i get that okay yeah okay that's the time how the does this keep going how are we still going through debt in an hour and 10 minutes the timeshare one what are we at one two three four five six seven eight nine ten eleven twelve thirteen fourteen fifteen with the student loans and now sixteen oh i didn't even write down your other student loans yet okay how much do you owe in the federal student loans i believe it's like a hundred you know what i did that uh that credit karma thing that you said it's it's on there but it's like a hundred and okay a hundred what what's on the secret special loan?

1:10:32Oh, it's only like$650 maybe. What's the minimum, Mati? $54. Okay. You need more paper. Oh, Wyndham.

1:10:45Oh, Wyndham. We love Wyndham. We love Wyndham. I didn't even tell them about it. They lied to us again. It's a timeshare. What do you expect? Yeah, but I actually didn't realize, because I went by what they told me, obviously, which was a lie. They said we were going to be charged$120 a month, which was fine, whatever. I assumed before, like fees and maintenance and all that. They don't have fees and maintenance. It's just$120. Because this is what their plan is. They want us to use it for six years at this special thing without maintenance fees or anything. And on their credit card. Yeah, and then after the six years that we're going to love it so much that we're going to do all the regular timeshare stuff.

1:11:29And we're like, uh. BJ's Wholesale Club makes holiday hosting so easy, we called in Thanksgiving's original host to talk about it. Pilgrim here. We could have used BJ's back in the day. Imagine stepping off a boat, then foraging for your first Thanksgiving. It's a whole new world now. BJ's brings Thanksgiving right to your door with free same-day delivery on your first order of$100 or more. We're talking turkey, squash, pies, all that price is so good they'll knock the buckle right off your hat. For terms, visit BJ's.com slash Thanksgiving and get the same great savings online as in Club. Okay, I don't think so, but fine.

1:12:02We'll try it for six years. So later on, a month later after I noticed that they were charging$178 instead of the$120 they promised, and then I wasn't making enough. Have you considered trying to sell it? I don't know if I can. because i don't know it's not like a regular timeshare where you like have to call and schedule it's it's a different kind of timeshare i know you can stay at any windham across yeah yeah yeah i'm allowed oh i didn't like i don't oh yeah i have to investigate because uh i probably not i would investigate immediately because you've been so many times by them interest rate is 61.65 178 purchases that's your monthly thing and then 240 it's like it's crazy you're forced to make a purchase on here almost it's like insane that you're even allowing this 2490 there used to be exit companies but there are also sketchy things surrounding them i was what i was gonna try and do i don't know if it's a good idea but i was gonna try and call him to see if i can get that 178 removed from my regular account so this one won't keep on collecting interest and then try to pay this off i mean yeah the that's a start i would try to the thing about selling is you're f***ing went out over as well.

1:13:17But I'm gonna look into the contract and see if that's possible because as far as I know, I thought we were stuck with it for six years. You know what you're... I don't have your contract. You know what your timeshare is called?

1:13:31It has the Wyndham name on it. But no, I don't. Like, specific name, no. I don't have it with me, no. I mean, you can also just ask them if they're able to sell to someone else i'm sure they don't care as long as they get their money you might be locked in for six years but that's kind of it's also just kind of weird nah obviously you've missed your decision period timeshare cancellation letter you can write a cancellation letter to the timeshare company if there's things in the contract that allows you to do that it needs to include all necessary details in the agreement number do i want they might offer a deed back program where you can return the timeshare i highly doubt it obviously selling it that's classic have written in i don't know if it makes a difference i was going to call what the my lawyers to ask them but uh the person that sold us the thing handwritten what we were supposed to be charged and it does not match what the contract has at all there's actually there are uh attorneys that you can talk to that are experiencing this there's that timeshare exit companies i don't know there's been bad reputations with them kind of uh interesting this one uh just stop paying this says some owners just stop paying no but i'm trying to lead to foreclosure get worse and it'll damage your credit score but yeah that's kind of like a last last last last last last last resort okay it's the time shares are incredibly difficult this is really out of all things to get into it's one of the last things i get into the interest that's accrued this year so far$338 okay$159 and a chase checking account is both you guys no this is mine okay first of all that's basically no money that's scary especially for making a hundred thousand no money because okay everything no no no no no no no no with me no no no no no no no no no no no no no no no no no no i see on this first page alone two necessary transactions three the rest is just going out to eat and shoving it all down your throat jack-in-the-box subway food town bath and body work sonic drive-thru dropbox let's not pay for dropbox when we can't pay bills door dash thai restaurant i can't do words that require knowing languages i'm sorry paramount i failed spanish spanish too in high school it's true true story i told you that's one of our vices that we eat out a lot okay yeah we don't get vices when we can't pay bills half big good goodness terry aki something amazon i think we're running out of ink on this paper amazon amazon amazon google storage affirming we're affirming so there's even more amazon going inside getting some bs jack in the box adobe We're not paying Adobe subscriptions when we can't pay our minimum monthly payments.

1:16:23Tara Noiva, Amazon, Microsoft Ultimate. I don't think we're using Google. Use Google Spreadsheets. It's free. eBay, eBay. Why are we doing eBay? Come on, guys. Discovery Plus, there's nothing on there anyway. I'm also watching like the new Star Trek show, but I haven't even heard if it's good or bad. Affirm. Great. More Affirm. Netflix. There's definitely not anything on there. Affirm. Amazon. Jack in the Box. Best Buy. Best Buy. We already have a Best Buy card, but there's Best Buy. Wait, that's a Best Buy payment. I think that was a Best Buy card. Amazon. Car wash? Why are we car washing? We can't afford to pay our car hardly, but we're getting it washed?

1:17:00It's Texas. It's not snowing down here. We don't have salt and stuff hitting the bottom of our car. We're not doing that. Motel 6, no more traveling. Merlin's Delivery, Surf Style, Hulu. Guys, we have every streaming service possible. Stop. Going inside, getting some BS from a gas station. Amazon. Amazon. wave sushi Texas Roadhouse getting them rolls Ross stores going in getting some BS Amazon Amazon Amazon Amazon Amazon Sonic Drive Thru Amazon McDonald's that's insane that is insane we complain wah wah wah can't pay my bills wah wah wah wah guess what you're buying all this bulls**t no more excuses uh uh I don't care if it's a vice uh uh those are the two vices Yeah, what I told you, Amazon and going out.

1:17:48400 hours in this checking account. Oh, we're back at it. You better believe it. See Hibachi Buffet. Game time. Tickets$182. Where did we go? What game did we see? Let's play the game of life where we pay off debt. Chile and Peru, but he got the deposit for that money, and then he went and bought the tickets. Amazon, Spotify. I promise we can listen to ads, guys. We can listen to ads. We don't have plenty. RealMati.com That's what he uses to send the money to Chile. What money? Right now, if you guys use my Moomoo link in the description below, you can literally get 8 % on your money that's sitting in there for three months.

1:18:30It's absolutely incredible. Plus, you'll get 15 free stocks just for signing up with my link. This is literally free money, so make sure you're taking advantage of it now. There is no reason not to. Sign up now. link in the description below. That's his child support is$400 a month. Oh, you have to. And then whatever extra. Oh, we're going to Waffle House starting 3am fights. Lynn's Buffet. Apple Bills. There's more money to the child support and you have to do that. I get that. Home Depot. Panera Bread. Food Town. Apple Bill. Raw Stores. Apple Bill. Amazon. Wendy's. Going inside. Gas station.

1:19:08Getting some BS. Spicy chan-a-tian we're getting more car washes great i'm glad the car is clean if only our finances were as well paying for parking there paying for parking there sending more money uh back to chile legends concessions we're getting concessions at the concert we already can't afford dolex dolex amazon sending more money back adidas dominoes apple bill going inside getting some bs apple bill wendy's going inside getting some bs oh my gosh it just doesn't stop amazon mambo seafood sending some money to chili getting some basket robins really good I'm glad

1:19:49you know what's really really really really really really really really really really good being able to fulfill your dreams and moving back to where you want to I know I need to stop going inside getting some bullshit phone is I get jungos amazon oh my what are we doing with the zell selling out 350 selling out 100 for selling out 50 selling out 50 selling out 200 selling out 100 selling out 30 where the f*** is that going uh not 150 or selling out 15 selling out 700 selling out 30 selling out 50 okay the the zelling out for him is usually business-based because he'll do a job he'll get someone to help him and then he'll pay the helper and then he gets the cash and then doesn't put it in the count he'll like spend it all cash goes in the account now but you're also including him in the financial conversations yes you guys are doing this together of the money spent which was a thousand five hundred hours more than we brought in because of course we're buying we're building up our debt only 12 went to debt oh that's great only 5.5 went to getting groceries but guess what 6.5 6.5 went to going out to eat or 843 unknown spending typically amazon we know you had a lot of amazon do i even need to look at your amazon to see if it's bullshitting spending i have a feeling it's all bullshitting spending either way it was a thousand eight hundred twenty eight dollars then miscellaneous bbs things that do not contribute to your life at all there's miscellaneous swiping going to the concert getting whatever one thousand four hundred eleven dollars or ten point eight percent of your spending of large purchases two thousand six hundred forty seven dollars and eighty eight cents are 20.3 % of your spending.

1:21:29Yeah, this is our life, guys. This is what we've chosen.

1:21:37Wow. You bored? Not that. It's just that I was told we should have been done by three, but that's... I have an appointment. I have a meeting. Well, you have a lot of things. Oh, what's your meeting? Three. I just need to text him and tell him I might be a little bit more likely. That's fine. especially because we're going to film a post show after this as well which you guys can join link in the description below it's an extra 20 minutes of usually we dive more into the t side of things because you know this is the finance part then we get the drama in the post show um we'll be done by four noah says uh and let me just call him and tell him that it oh because we have a member stream before you can also hang out for that make sure you guys are hanging out for the member streams what is your rent or mortgage the rent that we rent a house it's at 1 300 200 1 300 200 utilities gas electric internet okay uh internet is about 90 um water is about 45?

1:22:4350. 50, 55. Electric ranges between 150 to close to 390. Or 290. I'll say 225 for that. Ventus Insurance? Do we have it? Yes, but it's included in my car insurance thingy. We'll talk about that. So 370 for utilities. Good. Gas for both. oh for me it's more cheap 30 a month 30 a week no for a week mine is like 60 a week i work further and mine's a six cylinder okay 360.

1:23:30car insurances 225 for both our cars plus the renter's insurance that's not bad

1:23:40phone bill yeah oh uh we pay 16 good because uh yeah different reasons 16 total 16 total for my phone his phone and my son's phone okay but that's because uh i have a my bill says 398 dollars but uh I have, I give people. Okay. Yeah. And then, yeah. $700 for groceries. Follow the meal plan. Tweak it to your thing. $200 for the TP fund. $200 for the TP fund. That is anything else you need to survive. Because this is like a top-down version of your budget. You need to build it out for its true nuances. It's anything else you need to survive. It's makeup. It's, you know, we're just doing some basic things that aren't fully wants.

1:24:25Some say makeup's a want, but, you know, I put it in there. It is your toilet paper. It's your towels. it's when you need an extra close for this month you know that's that's your tp fund 200 anything medical co-pays that are ongoing prescriptions yeah i'm paying for months probably one 100 okay anything on top of that no jim no my a 20 dollar $21. Look at me. No, Jim. Look at me.

1:25:00Okay, let me get your minimum monthly debt payments. Yeah, I need to remove the car watch. My car watch. Yeah, no more car watches? No, no, for me. In the same budget. Our minimum monthly payment is$2 ,516.51. What comes in for rent? Oh,$1 ,200. and like out of that uh 300 is like profit i guess from the the rental property i'll include i'll include that in your monthly income about 10 000 bucks comes in a month well that was a good month though so i'm gonna say about nine oh because that did include the rent so 9 000 after the rent i'm gonna say it's like an average anything else you need to put in your budget or was that it probably I need to remove the Spotify premium yeah no subscriptions no subscriptions not yet we might have room but I doubt it guys you have room you I told you at the beginning I was like when we add up everything it's going to be true that after you pay your minimums you don't have anything that was false you just spend it all you just around I'm gonna double check my math just to be safe but as far as I can tell you have room this is irresponsibility acting like a child putting our fun and instant pleasure over our future yep I was right you need five thousand eight hundred seven dollars and fifty one cents to exist on a monthly basis nine thousand comes in and you know you had a better month than that last time so in your better month you have an extra I mean you have an extra$3 ,192.49.

1:26:46Sometimes you have an extra$4 ,192. I'll allow$192 to go to fund. Spotify, whatever. So$3 ,000 is left over on a monthly basis. For a month and a half, save up a one-month emergency fund should be the easiest thing to do in a high-yield savings account. Just that extra$3 ,000, just set it aside. And it allows you guys to survive for a month if anything goes up and down. Oh, you know the one thing that you forgot? We owe the IRS$1 ,500. Oh my f***. Okay. And it needs to be paid by October with the little agreements. No, I have good news. You're paying it next month. Next month. Because you have an extra$3 ,000 after I gave you$200 for fun.

1:27:26What? How do you give me that face? You have an extra$3 ,000 if you don't f*** around. Okay. Okay. No, I believe you. I believe you. It's not about believing me. Now I just don't think you're going to actually. no i just i don't it was the last hour and a half a waste of time no it wasn't i'm just i just i guess i just don't see the 3 000 extra but i guess we there is no i see it on there but i mean i just didn't think we spent that much on the amazon and the going out and all that but i guess we do there's your pie chart shows where all your spending's going you do you know what i have fireworks in my car uh-huh i'm gonna launch them okay at your son if he asks for fireworks again oh and you give it to them oh it's only every july i i don't i don't ever buy it and december damn right no i don't buy it in december not only in july thank you i was gonna bring that up guys this is this is honestly kind of Amor, I don't care, but if you buy it.

1:29:02get difficult so what i would do is grind for the next five years to at least get five years no that's a joke with a private student loan it's another year and a quarter three years three years conservatively or two and a half years you're out of all bad debt because your income is so strong your spending is just so stupid right now that's why i feel like you can't make progress so one you likely live a healthier life so that's good two out of bad debt and have a one-month emergency fund in two and a half years call three years you have a fully funded emergency fund so at that point you might not be out of your time share yet but uh try to be at that point maybe pay off your no sell the condo get out of it and honestly probably throw the rest of the student loans or towards retirement or towards retirement that's a that's a we can talk about it then but minimum though three years you are out of all bad debt and you have a fully thundered emergency fund and you know what it can be quicker than three years because sometimes you make more money i'm doing the months where you don't make as much money you make more money boom call it two and a half years you're out of all bad guys you have the most there are so many people i talk to here where it's eight years to get out of it in their current situation there was someone i filmed with yesterday what was it noah what did it take her 90 years to get out of debt with her current budget 90 years to get out of budget sorry sitting over there because we're getting ready for the post show 90 years to get out you guys while giving you money to spend on fun in your conservative months get out of all bad debt and have a fully funded emergency fund in three years i'll be embarrassed embarrassed and ashamed and disgusted if you guys don't get out by then because you will be giving up the golden opportunity of a lifetime so don't this around don't this up you have no idea the blessing your income is and how your living expenses are relatively low your largest living expenses your it's your debt minimum monthly payments by double that's your highest by double and it's gonna snowball as you get into it just start so you start feeling the momentum and you start getting excited about paying off the debt pay off your smallest debt at a time you're gonna knock out like three individual debts in the next couple months the irs next month uh one month emergency fund then this 500 debt the 650 debt 1307 debt you're just gonna kill it all then you just there the fact that this debt exists is an is a joke and you have the opportunity to no longer live like a joke okay it's budget it's sacrifices no both and in the budget are we like saving money or after we're out of debt well Well, remember, I gave you a one month emergency fund.

1:31:48You're getting that first after the IRS payment. Okay. And then you're not saving money until we're fully out of the bad debt, which is about two and a half years. And you're getting a fully funded emergency fund, which is saving more money. That's everything you need to live on your minimums for six months. And then at that point, you can either, I want you to sell the condo. And we're either throwing that at retirement to try to catch up or we're throwing it at the student loans. Because who knows what the situation around that's going to be. We can talk about that then. You know, I plan to be here in three years.

1:32:18So we'll have a conversation. Okay. This is down the road. But, yes, we do want to certainly start catching up on retirement. That's for sure. And then, you know, we're going to do some asset transfer things. It might start getting confusing when we're trying to get to Chile. But three years, guys, this is a blessing of a lifetime. Right now for your hammer financial score, spending in a budget. I mean, you overspent on your budget, so it's a 0 out of 10. Debt, you have IRS debt, 0 out of 10. Honestly, with all this debt, it would be a 1 out of 10 at the top, but it's a zero out of 10. Emergency fund?

1:32:47Nothing in saving. Zero out of 10 retirement? Nothing? Anything? No. That's crazy. That's crazy. That's crazy. Okay. Well, whatever. Zero out of 10. Real estate. It is going to benefit your score. So you're probably going to get rounded up. It's a condo. Condo is not the kind of rental property I had to get because of the condo association fees. It's a rental property. I would rather have primary residence first. Okay. It's going to be a three out of 10 for real estate. I only round up unless I hate people. So hammer financial score 0.5 out of 10 make sure to join the membership below to get access to the post show and our member streams on tuesdays and all the other extra shows behind the scenes that we do feel free to check out the resources linked in the description below is there what a user would use in specific situations including the best budgeting program and best investing program in the history of the internet today on the financial audit post show mr hammer you're going on a date tonight can we talk about that yeah what's cool does she call soda pop probably like a true american how'd you guys meet?

1:33:43I'm doing good this time. Hinge. How about them? How did they meet? Oh, well, but yours is Hinge. Ours is plenty of fish. Really? Yeah. To watch the financial audit post show, click the join button below.