Making $20,000 A Year And Spending It All On Fast Food

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1:01I'm 26. I'm based out of Rock Springs, Texas, and this is Financial Audit. What do you do for a living in Rock Springs? So I work at a Christian adventure camp right outside of Rock Springs. Okay. Currently right now my role is as a retreats coordinator or host. So we talk with men's groups and with churches and things we haven't come out. Specifically, I'm in charge of men's groups and Wounded Warrior Project Odyssey groups. Oh, interesting. Okay, when I heard camp, I was thinking like children. We do have kids come out, but I'm more on the adult side. So this happens all year then? Yes. It's not just like a summer, spring type thing?

1:41Okay, cool. And what do you bring in from this position? So currently I bring in$18 ,900. That is my take-home pay. $18 ,900? $18 ,900. I don't get paid too much. but I'm actually getting I'm laterally transferring to another job at the same camp it's not much of a bump I'm changing up to$19 ,000 so it's a$100 $100 bump most of my income comes from my disability pay from the military what branch were you in? I was in the army okay i was a paratrooper in the 82nd airborne yeah i could never do that i'm terrified heights yeah i ended up having a pretty traumatic experience i did double parachute malfunction ended up falling from around 1800 feet and i shattered my left femur into i'm happy you're alive yeah right for for sure geez um but yeah so 26 different bone fragments um they ended up putting a bunch of metal in my leg and that's what my disability comes from instead of skydiving you should hit the subscribe button because i mean instant gratification and we're trying to get to 500 000 subscribers so i like that segue yeah i love it it was great what do you bring in with the disability with the disability it's six one thousand six hundred sixty three a month even that itself would not be enough to live on so you're required to get something else Yes.

3:21I don't have to pay rent out there. You live on the camp? Mm-hmm. So I don't pay rent. I don't have to pay for my own food, and I don't have to pay for utilities. Is the food you're getting good on a camp? No, it's not. Yeah, I was going to say, every camp I ever went to. Mm-hmm. So that's part of why I want a budget and to kind of rein my finances in. Yeah, that makes sense. Why do they pay nothing? we are it's ministry work anywhere that you work for a ministry is not going to pay very well we're more doing it because we believe in what we're doing rather than well you have the option to because you have the disability I mean obviously something bad had to happen in order to get that so it's not like we're celebrating or anything but if you didn't have that you could not survive, you couldn't retire you couldn't do anything and this is like 40 hours a week type thing um i pull in about 80 hours a week all right well you're better than man than me um wow so i see we had payroll across the different things which includes the disability of 2935 dollars and 30 cents hit within the most recent one yes that sounds about right to you that sounds about right okay so basically three thousand bucks is what we're getting.

4:41Now that is livable. Also, that town that you said you're from in Texas, I've never heard of it. It must be very small. Rock Springs is tiny. We actually don't even live in Rock Springs. We are about 45 minutes outside of the town, and there's only about 60 of us that live at this camp. Oh, that's interesting. Now, you're in debt. I am in debt. Credit cards. Yep. and there's like brutal interest but i want to know how you would describe your financial situation from your own perspective and then give yourself a score 0 out of 10 yeah um so if we look at just the debt it looks very bad um but i have about 15 000 in an investment account i also have a 5 000 emergency fund right now as well as that 10 000 in the ira i send you as well so I'd say I'm prepared for emergencies I'm just I suck at dealing with the money I have at hand so I'd put myself like a five well that emergency fund I mean that's that's well obviously we'll want more than that but that's like the perfect starting block to getting started on paying off all the poo that we got but we are in debt and I'm a little confused with some of the choices that are in here I'm glad the retirement fund and stuff like that and disabilities is that forever?

6:07Yes, that's for the rest of my life. Yeah. I wouldn't say that's a retirement plan because obviously it's not enough to live on, but it is supplemental. So you have about a thousand bucks at the time of this statement in your checking account, which was more than you started with. But a few things concern me. One, all right, y 'all, we got to talk about something important. Data brokers are making a fortune selling your private data out and it goes to robo callers and scammers and other people who want to know more about you, like where you live. But that's why I'm excited to talk about today's sponsor, Aura.

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7:46Which, by the way, the camp you work at, they're supposed to give you money, and they barely give you any money, but you give them a lot of money. I do. If you're living there, they should just compensate, is what I'm saying. You shouldn't have to do this. What is this? Vending machines? Is that what's happening? We have a, we've got a coffee shop. I'll buy coffee and stuff from there. Okay. We do get a discount, but I mean, it's still got a markup on it. If they're going to pay you$19 ,000, it should be free. That's all I'm saying. $100 raise.

8:19Chick-fil-A, coffee, Austin Go, it was a cash app out, and Amazon coffee. This is a real good story about Bronx and his dad Ryan, real United Airlines customers. We were returning home and one of the flight attendants asked Bronx if he wanted to see the flight deck and meet Captain Andrew. I got to sit in the driver's seat. I grew up in an aviation family and seeing Bronx kind of reminded me of myself when I was that age. That's Andrew, a real United pilot. These small interactions can shape a kid's future. It felt like I was the captain. Allowing my son to see the flight deck will stick with us forever.

8:58That's how good leads the way. Coffee, coffee, cash app, and then Austin Go, all's ups. $7.11,$5. So I know that wasn't gas. We were stopping. Tell me what this says. It's popped up a couple times. The better link? So I actually ended up getting all that money back, and I put it into my credit cards. It was originally a debt consolidation thing. So I was putting money into a debt consolidation account. I didn't like how they instructed me to not talk to my creditors So I ended up canceling it after my credit score took a hit And then I started talking with Capital One again And we're on a payment plan Okay Oh, interesting We'll have to talk about that because I did not have the Capital One statement So it's worse than I thought Okay, so some Google payments Some Google payments,$21.31 and$6.42 and Taco Bell and Spotify and Amazon and Supercell.

10:01And again, that was paid with Google and Amazon and YouTube stuff and Supercell and coffee and coffee and coffee and Supercell. Let's see. So out of this just one page of checking account, I've determined that two. Two out of potentially 20 were not complete and they were just you getting gas. Yep. Two out of 20, and there's debt. We're talking to a debt consolidation company, and yet we're doing this. Why are you spending so much money, dude? Money. What's the mindset behind it? What are we doing? When you're walking around the camp, how far is your walk around things? And you live on camp. How far is your walk around things?

10:46How big is this camp? We are 1 ,400 acres, so I normally do a good few miles of walking. A few good miles? Okay. are you able to do this wild concept of brew your own coffee instead of getting coffee three times a day or whatever it is? My goodness. Dude. Now, this is what extra concerns me. On this statement specifically, you transfer$300 in from savings. So we were getting dangerously low balance, and we had to transfer in from savings because we wanted to keep going to Chick-fil-A and getting taquitos at gas stations and stuff like that. Yes. I want to get to the mindset behind that. We'll get there.

11:22but guess what we have another page of green lines because dude you don't not spend everything out here there's not one good purchase no there's not one good purchase on this entire place okay except for transferring a little in your savings which you took out on that previous part but dude it's youtube and google and amazon and youtube and supercell and supercell and cloud hq and youtube and audible and i mean audible's good but what we're trying to get out of debt come on and Supercell and TCG and Hulu and Supercell. Recurring payment for a Google thing again. Now there was your debt consolidation, which we're done with.

12:03And Google and coffee and coffee and CuriosityStream, which I love that platform. But again, we're trying to get out of debt, dude. Oh, I just got squeaky. I just got squeaky. Before, I couldn't hear myself getting squeaky until people started commenting it, and now I hear it. And I'm like, oh my goodness, you must be getting upset, Caleb. So I'm going to try to calm down. But you cannot be getting$200 to stitch fix when we're trying to get out of credit card debt. That doesn't make any sense. You're right. That doesn't make any sense. That upsets me. That upsets me. And again, coffee and Google and Taco Bell and Venmoing out money and Amazon and TCG Player.

12:43What's that? That pops up all the time as well. What's that? It's a trading card game. Trading card game? Trading card game. Mobile? No, physical. Okay, it's a trading card game. But it's not like gambling. No, it's not gambling. Okay. Patreon, again, after we're out of debt and have a fully funded emergency fund and Google payments. Now, here's another thing that concerns me. We're doing all this bull****, of which, by the way, there's another half a page still. All this bull****. Two good purchases so far. Two good purchases out of this entire thing. Two good ones. we got to a point where sending out money with Venmo you were negative$9.61 in the checking account and then you got to$2.39 so this is okay more Patreon and YouTube stuff and you must rent a lot of movies or something on there I do TCG Player and Venmoing out money and Microsoft and PK Brand and Uber Pass I didn't even know I still had that Yeah you still have that 10 bucks a month TCG player again Some other payment through PayPal and Blizzard and There's a debt consolidation which of course we reversed And Capital One card payment So the card payment And two gas were the only things That were slightly productive Everything else How much was spent?

14:13How much came out of this again? What was that? What was that? $2 ,500. $2 ,500. I'll say$500 went to it. That was good. $2 ,000 could have gone to paying off our shit that we owe. And that is holding us back in life. I need to know the mindset behind this. Why are we going and spending three purchases a day almost pretty much on crap we do not need? What is it? Really, I am very impulsive with a lot of the purchases I make. It's kind of been a coping mechanism of mine for a while. I'm trying to dig myself out of it. Coping with what? Emotional dysregulation issues. Are you in therapy? I am in therapy.

14:56Good. Taking advantage of that VA stuff, right? Good. Very good. I love that. That's been one thing that I've been trying to get better at is getting my finances under control because I've never been good. Have you discussed with your therapist the spending issue, the worries around money and stuff like that? I don't think they initially, I think, well, I don't know. I mean, I've been in therapy with a couple of therapists. I have never seen them go directly to the financial issue. Obviously, they're the professionals. They probably know how to navigate that and get there. But, yeah, that's why I asked that.

15:29So you brought it up then? I have brought it up. My therapist several times has told me, hey, I can't give you financial advice, but here's what I would do. And I'm a very concrete type of person. I need the breakdown and the numbers of it so it'll make sense to me. And that's fine, but there's no point of that if we can get to the emotional side of things. You're going to be constantly impulsive. So continue working with them on that. And that's going to be very important to this whole conversation. That's 50 % of this, essentially. You can't do one without the other. You had a little lecture come in from PayPal.

16:06Dr. Squatch, big purchase. Bass Pro Shop, big purchase. Innovat Pet.

16:40Some of these are on, by the way, cards that we haven't gotten to. Cash App and Out, Austin Go, Amazon, Google Flow Key, and Stitch Fix. Big purchases. Yep. Flow Key, that is a hobby of mine that I think is actually productive. I use that to learn piano. And I've been doing that for about four months now. Okay. So yeah, that is one that I'd like to keep. But everything else I can probably get rid of. so that's 128 dollars a month a year a year yeah that's a yearly subscription i'll allow it so this thrift savings plan is this your that's my retirement plan retirement plan through the employment uh through so i haven't been able so i haven't been working at this camp for a year yet they have a year waiting before you can open up your own this is what i retained from the military and then once I can actually open it up at this camp I'm going to roll it into that one.

17:43What's the camp even going to be? I mean you don't make money. They match 4%. Yeah but the 4 % is so small. It's something. It's going so you'll essentially be getting 8%. Yeah. We're definitely going to want to talk about this retirement game here for a bit. For right now we have$9 ,102 in this past military account. $1 ,613 of which was contributed from the employee match. And the distribution, I can't see what they're in. They're in these funds. Okay, there's a retirement fund, a 2050 retirement fund and a C fund. Don't know what the C fund is. But it's broken down between lifestyle and stocks.

18:31I have no idea what lifestyle is. I just dove back into it. It used to be just in the C fund, which is basically, it's a very diverse portfolio. It's on the S &P 500. Whenever they updated their website and their registry, they took 60 % of what I had in the C fund and put it back into stocks and bonds. so I wanted to pull it I pulled it back out actually last week and put it back in the uh just 100 stocks okay okay now you mentioned you had like 15 ,000 hours somewhere else yes I wasn't able to get a hold of that statement it's home with my family and it's just paper statements right now what is it um it's with a Wells Fargo hedge fund I forget the name of the exact hedge fund.

19:21Did you put this money in? I went through, so my dad had some connections and I'm working with a company out of Lubbock, Texas that does financial management. I got a big$42 ,000 check when I got out of the military and I kept half of it to help me move down to Galveston and the other half I put into savings. Okay. Cool. Now the debts. Because Because, I mean, there's nothing else. But I am glad you're at least sitting at about$24 ,000 in retirement. $26 ,000. We want to be a little more, but that's still much better than we often see on this show. So I'm happy to see that. Plus$5 ,000 for a starter emergency.

20:08So, cool. Not cool. This. I'm going to go through two months of this because it upsets me. Yep. Okay. So we start with$3 ,965.07 of credit card debt that you want to pay off, right? But then why in the world do we possibly, possibly spend$3 ,035.88 on it that we're trying to pay off? Because you paid off$300. Clearly, we're trying to make progress because that's more than the minimum monthly payment of$184. Why are we spending Basically What the balance already is Again on it Why I put a vacation that I'm taking on there For it What is this vacation that you need That's more important than you bettering your life You're right I don't really need it What is it I'm going scuba diving with some old friends from the military In June Be like, hey, military bros, I'm poor as f***.

21:12Let's do this in like a couple years. Still be in your 20s. Dude, killing me. $182 of available credit at the time of this statement. $116.25 of interest was accrued. It's insane. You maxed out a credit card because you wanted to go to a little thing. You got some taquitos. You got some more taquitos. So from QT and then 7-Eleven. None of those are gas because they're way too cheap to be gas. And then you did get gas, and that's fine. Okay And then we're doing more YouTube stuff And some PK Brandeth's and Chili's And Entertainment Mart And What's Five Points Market? Is that groceries? Yes it is There's a little grocery store in Kerrville I get gas from there a lot too Oh okay So groceries is fine, gas is fine McDonald's is not fine Card Kingdom $570 Card Kingdom What is that?

22:09That's gentrification That's more cards Dude this card thing Okay We're going to have to curb this card thing down I'm going to go over there and burn the entire deck 7-Eleven taquitos And Google Supercell again We're doing that constantly This Supercell thing of stupidity What is it? It's a mobile game No dude You spend so much Why? On this card game and mobile game Is it because you're in the middle of bumming away and there's nothing to do? Or what is happening? Yeah, yeah. It's a good way to describe it. Ugh! Dude, you can't be spending that on mobile crap. Ugh. Gems and stupid gems and taquitos and cards.

22:54Killing me. Double Dave's Pizza. Animal Drafthouse. YouTube. And then here's gems and more gems and more gems. and these are expensive little gems you're doing and gems, there's a fourth gem and then you're doing coffee again and then gems and then coffee and then Merit Leon for$57 and gems and guess what? Gems and gems and gems and gems and gems Yep Olympus Drive in Florida, okay there's the travel there's the travel, more travel and then gems and gems So no Guess what Out of the$3 ,000 you put on there Maybe$1 ,000 went to the travel The rest were cards and taquitos And bulls**t and gems Please Please talk to your therapist about that If you're already in that conversation But talk about this impulse spending Dude you're just clicking the f**king buttons And then going and getting some cards And then going and getting some taquitos We gotta stop We're spending so much money on nothing It's nothing What's going on?

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24:41Not only will you receive 20 % off your first purchase, but enjoy free shipping on any U.S. orders over$75 and free returns. Have a great day. And we're trying to get out of debt. Total interest charged year to date at this time was$421. For someone making$18 ,000,$19 ,000 a year on their salary and we're losing almost$500 a month in interest? End me now because that is terrible at a 29 % interest rate. But guess what? I'm going to look at the next month's statement because I'm happy you put$700 towards it, but we're still putting money on it. We can't be putting money on a card that we're trying to pay off.

25:20That does not make sense. $346 we put towards it, dude, with interest charged of$169.50, bringing the balance at the time of the statement, which is what we're going to go off at, okay, this is for the venture card, at$6 ,633.09 of death. Death. With minimum monthly payment of deathly$235 of death and stupidity. With the interest rate again, this is, what was it, 29 %? Mm-hmm. And what are we doing on here? What's the super important money that we have to spend on here on a card that we can't pay off? That we're talking to credit card negotiators because we're in credit card debt again, mind you.

26:06That's why I'm getting upset. Dr. Squash, what's this? Soap and deodorant. Is that really more cost effective than going to H-E-B? It lasts longer. I can't view it. I can't determine it. I'm putting forward please just be educated on that and do that mathematically correct and Garvin Storm Mountain and Supercell Gems and Bass Pro Store Bass Pro Store and UPS Store now we're at$600 of interest lost within the first quarter in a few weeks first quarter in a few weeks of the year First four months In a few weeks actually A little mixed up But we've lost$600 On a$19 ,000 income $19 ,000 income Again 19 % interest rate Capital one Oh that is the one Capital one Bounce sitting at $3 ,885 11 cents with a minimum monthly payment of$152.

27:24I think that should be, unless there's another statement, that should be$500 lower. I just put$500 more towards that card. Very good. Very good. Well, what makes me happy with this is you put$800 towards it, and then you put another$500 towards it. So let me adjust that. And you did not spend money on it. But we did lose$113 of interest,$0.36. But again, we did not spend money, which makes me happy. We've lost so far, again, four months and a few weeks $615 So now we're at$1200 $1200, gone Gone, squeezed from our $19 ,000 of income Gone Stolen from us Because We decide we want to go get Taquitos Taquitos and buy gems And all the And get coffee every single second of our life from the shop because we can't brew it.

28:20Is your car paid for? Yes, it is. That's awesome. What kind of car do you have? I have a 2004 F-150. Okay. How long will that last? I've had it for about a decade right now. So probably another six years. I hope so. How many miles on that thing? I just hit 130 ,000. Keeping care of her? Mm-hmm. Make sure she smells good? Good. So that's the whole plan right now is if I can get the debt paid for in time for me to need a new vehicle. Yeah, we're kind of running on a clock there, depending. I'm glad you're keeping good care of the vehicle. So right now you are losing in interest. You are losing in interest$283 a month right now.

29:09That's insanity. Just from two cards? From two cards? I need to know how he got into this debt in the first place so we just don't repeat. Yeah. Whenever I first got out of the military, I opened up that second card whenever I moved into my own apartment. And basically went through some severe mental health issues. Wow, okay. Kind of became a recluse. And I delivered all my food, all my groceries. made sure I didn't leave my apartment for probably about a year. Wow. Yeah, I lived on my own and just didn't really leave. I'm sorry to hear that. It's all right, man. I'm a lot better than I used to be.

29:58Well, I'm glad you started seeking help. That's the first step. That's the most important. You started seeking help with your mental health. And how many years ago was this again? This was in 2000 and this was 2021. when I got out. My accident was in 2019. When did you start seeking mental health help? About 2022. So it's been about a year. I'm glad you did that for yourself. That's everything. What are we without our brains? That is what we are. Or else we're just a sack of water. So the mental health is certainly one aspect of this. And I'm, again, very glad you started take care of yourself.

30:39That's very good. When did you start thinking about the financial aspect? Well, um, so I've kind of been holding onto this debt for like two years now and I was making the minimum payment and it seemed like interest was almost engulfing the entire minimum payment. Oh yeah. So now I was like, okay, well now I've got to do something about this. Um, so I paid, I paid a bunch into it whenever I was at school last year. Because whenever I was at school, I was making probably closer to$4 ,500 to$5 ,000 a month. Where were you going to school? I was going to Texas A &M down in Galveston. Oh. So I was going to school for Maritime Business Administration.

31:22Going to? I wanted to go work for the Port of Houston in some form or fashion. Did you get your degree? No, I didn't. I got academically suspended last year because my grades weren't where they should have been. Jumping straight back into school after getting out. Boston with the Boys is here to let you know that every college football Saturday, FanDuel is dropping profit boosts that can turn wins into bigger wins. Sounds like we should rename Saturday Booster Day. Nice! 21 plus and present in select states. Opt-in required. Bonus issue does not withdrawable profit boost tokens. Restrictions apply, including any token expiration and max wager amount.

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32:12The military was not the best decision for me. School is free, though, right? Yeah, school is free. I still have my entire VAGI bill, and I also have the Texas Hazelwood Act, which can pay for another 150 credit hours. Oh, wow. So if you went back, how much more schooling would you have to do? To get my bachelor's, I could get my bachelor's in probably about a year. Okay. What took you out then to Rock Springs to do the camp thing from the school? So the camp thing was a summer job that I was doing, and then I was suspended. And if I'm not going to school, the VA will not pay me my living stipend.