Pink-Haired Freak Makes Me Lose My Mind | Financial Audit

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1:00To watch episodes of Financial Audit a week earlier, check us out on YouTube. Out of the divorce, I got$600 ,000. Okay, what the f*** is it? It's gone. Completely gone. What the f***? Into where? Bought a house that was$330 ,000. I bought it sight unseen. Oh, no. Yeah, I saw the outside because I drove by it. Oh, good, you drove by it. Yeah. It was in shambles. You don't know where that other$150 ,000 to$200 ,000 went, do you? Hi, my name is Morgan. I'm 29. I'm from Charlotte, North Carolina. And this is Financial Audit. Thanks for coming down to Austin. What do you do for a living there in Charlotte?

1:39So right now I'm an executive assistant for a hotel chain. So that's what I'm doing right now. But I've only been doing that for a month. What are you making now in this job? Right now it's 25 an hour. So I'm full time 40 hours for the week. but then if I have like a sick day like I'm not eligible for like time off pay right now how do we okay how do we feel living in Charlotte off of that it's not great so in my previous job I was making more so I kind of what was your previous job I was a personal assistant for an individual okay why'd you stop because that was very toxic so my ex-boss was very crazy crazy um and there were that's crazy there were no boundaries like whatsoever with work um i was working 24 7 if i was sleeping and he called like in the middle of the night i had to answer oh those kind of boundaries those kind of like no boundaries he's like if you're having dinner with your husband and i call you you have to answer and you have to leave the dinner um but you know i mean honestly oh i would not want that job and i assume you did not want that job but if you know uh someone that is looking for a specific job agrees to that type of specific you know kind of always 24 hours you know job and you know they negotiate and the both parties come to alignment then it's totally chill but obviously if it doesn't work for you then also you know quit it's a free market so that's what i did what really like put the nail on the coffin yeah was that on like my second to last day before i quit he was telling he had this whole rant to me about how um it's not his problem if i have to work late one evening because i'm taking him to dinner and then wake up very early the next morning like that's not his problem and then he said and i quote i'm not a slave driver but i am your king and so it's a weird thing for a boss to say i quit as well i get it yes i'd quit as well i couldn't i couldn't handle it anymore yeah it's a bit weird a little bit of a power trip yes uh well you know i mean and you know he faced the consequences for that he lost an employee that was probably working hard if he were lasting that long with those demands that he had so i mean yeah himself over i mean i lasted two months so not that long but okay well i'm sure that sounds like from that kind of job with that kind of person the dude's probably churning through him like crazy so you took this to essentially just supplement no income now yeah this is like the quickest thing we could find so yes yes and no so that job my previous job that i had over the summer um i actually found it through craigslist i thought it was fake at first but then they were like show up at the starbucks and i get to the starbucks like a famous person um not famous no just has a lot of money okay got a lot of money doing maybe not so legal things drugs um cigarettes so not drugs but cigarettes okay yeah interesting and i know and so i get to the starbucks and i'm thinking like this has to be a scam or something um but then there they pull into the starbucks parking lot in their rolls royce and i'm like okay so i got that job with them um and i was making 70 000 a year oh wow but i only worked for two months we're definitely so down heavily what do you think what what the what happened well wait when did you start this new job exactly i i don't remember it was earlier this year earlier this year this new job oh the one that i'm currently in or the one that you're currently in oh the one that i'm currently in like a month ago beginning yes of last month yes payroll 303 dollars right so i hadn't gotten paid yet because like you start and then in the pay period you know you don't get paid immediately you have to wait so since then i've gotten paid what are you bringing in normally so now that i'm working i bring in net income like three thousand dollars a month a month yes okay yep all right and we had some additional things coming let's see we had transfer from husband husband so we're married yes yes i am married and so he also what color is his hair do we make a full rainbow uh together okay no no full rainbow but maybe i'll convince him someday um but he he works he's a teacher so that's why over the the summer we had no income um but now that he started the school year again now we're back to making money well he transferred you money so we our finances are together but we have like all these different accounts which i'm sure you'll see money come in where do you have money come in uh we just had money from savings from savings do you guys adequately plan for the breakdown his income on a 12 month no situation you know a lot of school districts they a lot of just in general he should be able to choose to get paid across the 12 month period yes um not choose this not that school district really it's not an option they do it like if you have if you're part of the credit union like when you go through that credit union okay go through the credit union right yeah i yeah but we didn't and so why do it well yeah now for the new school year but that's not going to go into effect until you know next summer when we'll have income during the summer well no wouldn't it start next month because you'd get lower pay throughout each month to spread it out yes you guys haven't taken that into account for your bills no all right okay so what's going on here what is happening what what is happening so basically so i have a unique relationship with money because okay surprise someone on the show the unique relationship with money okay yeah because so um growing up like after my family came to the u.s they were like very poor um like starting over from being in another country i was not no when how old are you when South America five years old.

8:13OK. And so growing up with my parents, they didn't have a whole lot of money because they had to start from scratch. And so neither did mine. Yeah. And so I got a lot of like my money anxiety from like growing up with my parents not budgeting and basically just always being stressed about money. Well, let's fast forward a little bit. What's happening here? So I think a lot of us come from places with just bad money. This is America. You know, people spend money they don't have. They come from situations. Okay, cool. So what's happening? So I have an ex-husband. I was married before. An ex-husband?

8:4829. New husband, ex-husband. Okay, wow. Yes, yes. So this is my second marriage that I'm in right now. But with my previous husband. Yeah. So out of the divorce, I got$600 ,000. The f***? Yes. Why? That was part of our settlement. So I could have taken more, but I didn't, which I'm kind of now regretting a little. Wait, why could you have taken more and why didn't you? Well, I could have because if I were doing like a divorce with like 50-50 split, I would have gotten. Could you have done 50-50 split? I could have. So this was a pretty well-to-do person. Yes. So I don't know exactly how much I would have.

9:34No, he tried to get me to sign a prenup and then I didn't sign a prenup. and then he tried to get me to sign a post-snap and i didn't sign a post-snap post-nut yes and so um yeah we decided in the settlement agreement that i would get 600 000 because i didn't want to take what the do i have so much debt here to go through on your end what are the 600 000 hours ago when did you get the 600 000 two years ago okay what the is it it's gone completely gone into where uh well i bought a house and with the 600 000 with the six okay so it's not gone it's not gone right it's tied up so well so i bought a house that was 330 000 and i bought it like outright so like it's paid in full so i don't have those half the cash yes um but then i bought it sight unseen and so when we entered the home oh no yeah i saw the outside because i drove by it oh good yeah when we entered the home though uh it was in shambles so we had to renovate it completely like gut job um so we saved some money by tearing everything down ourselves but the renovation was like a hundred thousand dollars there's still 150 to 200 000 hours left where did it go um spending well we had two years yes nice furniture then apparently yes which you'll see i'm in debt for some furniture oh me so like the cash didn't cover you don't know where that other 150 000 to 200 000 when do you you don't know so part of that thing is in my ex relationship like i was spending five thousand dollars a month on like both spending and like he was kind of just taking care of everything how long are you guys married um married for five but together for 10 years 10 years how old are you guys when you got married so i met him when i was 19 and he was twice my age um so i think 40 yes yeah okay and i definitely think i was groomed in the beginning that's a strong word it is that word gets thrown around a lot right now just kind of like the word pedophile the word the r word and a lot of other words have kind of lost their meanings because yes so are you sure because it's a very methodical process of separating people from all their connections in order to make them feel cornered so that over the course of many years likely starting from a young age they cannot escape the position that they are in at that point yes so i mean i met him when i was 19 so i wasn't like young young i was technically an adult yeah you're two years into adulthood yeah still probably mentally immature but you know you're two years into adulthood yes you make your own choices definitely over time it was um more like i couldn't spend some time with friends or okay yeah that's a good little he started separating you from your groups yes exactly he kind of started separating me um and then it didn't turn into like such a great um kind of relationship and i he definitely like used money to control me so in what ways so he would be like you know i was spending my five thousand dollars a month and he was just paying off my credit card and i didn't have to worry about anything um and then you know he would get mad at me and like throw me out of the house and say you know you can't you can't come back here and so then i would sleep in my car um or why wait yeah so no reason given or because you spent the 5 000 he thought i mean that's still insane either way but yeah he thought that i was cheating on him um were you no i wasn't and so but he had kind of this idea of like any male that I had a conversation with or that I knew.

13:38Oh, this dude's weird. Yeah. So Okay. Yes. So I... 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. That's how good leads the way.

14:16Grew up. So you have to think of it from my perspective, right? From the age of 19 through the age of 28, 27, when I officially got divorced. Like I did not learn anything about money. No, you were just giving money to spend, essentially. Yeah, I just had a credit card. It's interesting. I could spend whatever I wanted. It's definitely much more of a lack of independence that a lot of people. There's skills that need to be developed through the early 20s, mistakes that need to be made almost, if not at least the skills around them being learned before making the mistakes. Well, yeah, you wouldn't have had the opportunity in that situation if it was really as closed off as you're making it sound like.

14:58Then you guys got divorced. Who triggered the divorce? Who called for the divorce? I did. okay so after you're realizing it yeah there was multiple years where i was like i need to leave and so at that time i started because i was still working while i was with him it's not like i was just married again pretty damn quick yes yes so when i left him i knew for several years that i had to leave him like it wasn't a situation but for so long i thought that like i couldn't leave because if I leave, then I have nothing kind of mentality. Yeah, yeah, yeah. But then after a scary situation, I just packed up my car and drove up to North Carolina.

15:37I was in Florida before. And so I moved up here, and then this is where I met my now husband, who's much better than my ex. Yeah. A little less of the groomster. Yes, very much so. Okay. wow okay so i'm assuming you ended up finding yourself in debt throughout the situation because you didn't have the you didn't really you're kind of almost like starting at 19 again now at 29 because you never went through the period of learning those behaviors through any kind of independence it's interesting that's something we've not had before that's really interesting um still a little confused how we had about 200 000 hours and yet there's that in front of me if that was all consumer spending so like that still confuses me but let's get through this and let's try to figure it out i want to know from your perspective i want to see where you see yourself today give me a score zero to ten of your finances ten being the absolute best you can think of zero being the absolute worst that you can think of where do you think you stand well i'm not homeless so i'm not a zero but i i would say you bought a home right do you own the home i own the home outright still okay yes um but i would maybe like a one or a two sure so bad nice it yeah okay all right if you want your hammer financial score it's free link in the description below see where you stand and if you want to be on the show if you have you know interesting finances and you have interesting stories anything like that we're happy to look at everyone's application go to calebhammer.com slash apply okay yeah let's start this debt let's start this debt journey because there's a big balance on this first one let me tell you oh god city advantage looks like this credit card groomed you because you have a probably shouldn't joke about that i apologize i just immediately i'm just so and quippy about everything that's the credit card that i started with my ex so it kind of makes sense oh yeah my joke was less of a joke i was hoping i have a high credit limit because back then i just every time i could i requested more how would it approve you what were you saying your income was is he on this well no so he's not part of it but like i would include his income when i like talked about yeah so anytime i had the opportunity which i think was like every six months i just requested a credit increase 29 ,294 dollars which by the way and here's the thing the credit limit is 29 ,500 hundred dollars why are you at the credit limit we've had time you're coming in here you're saying words you're using phrases you have an attitude that's actually quite pleasant and you're saying things like you know where you are you gave yourself a reasonable hammer financial score why the f are we at the limit what we would do typically if we have some kind of knowledge of our situation okay the balance might be high because you're still trying to get out of it maybe you're snowballing it's not the highest debt okay but no you want to purchase six thousand eight hundred thirty two dollars and forty two cents yeah so i don't know what the f*** is going on because you brought it right to the credit limit so everything you're saying of sounding knowledgeable and stuff gets thrown out the window and burned and ran over by a car and thrown down the sewer it's all you the way to get actions are not backing up your words your behavior is not matching your attitude.

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20:22Growth School has helped over a million people upskill across the globe, and this is your choice to join that top 1 % in an AI first world. So click that link, snag your free spot, and let's get those skills that'll secure your future. I'll see you all inside, and don't forget to join the WhatsApp group for regular important updates. So what happened was, um, I, that's like the main credit card that we use. Why the f*** would you have a main credit card if you have a credit card balance that you can't pay off that is accruing interest$793 of interest why is there a main credit card there shouldn't be a credit card this is not a credit card household so we we pay on it like we make payments but then we spend it again no no no no you made a payment then you spent a thousand dollars more than you paid on it so no you didn't spend on it again you overspend yes and you'd be making a minimum monthly payment regardless which is a thousand dollars so you made more than that yes but then you spent more what you pay towards it and you brought it to the credit limit and it's accruing seven hundred ninety three dollars pay a minimum to payment next month you're barely you're basically still at it again you have a minimum monthly payment here one thousand eighty six dollars seventy nine cents yes and so we so what we were doing is we We kept hitting the limit.

21:49And so then we would make payments so then we could spend. But why? Why spend on it? Why not get rid of a car that is accruing$700 in interest? That doesn't make sense. Why still put on it? Well, over the summer, we didn't have income. And so we were kind of. Okay, then obviously you guys are doing life completely wrong then when you knew you had the credit union you could sign up for and get that income distributed in different ways. You could have had an emergency fund, which would have covered a summer. We did. Okay. Obviously. Well, where'd it go? toward the credit card. Let's send an emergency fund.

22:21That doesn't make any sense. What are you talking about? Where'd it go? How much? What was your emergency fund? Because if it was a six-month emergency fund, it would cover three months of living expenses easily, which is the summer. Okay, well, not like six months. Okay, so you didn't have a fully funded emergency fund. We had like the leftovers of the$600 ,000 that I had. Yeah, which should have been a lot of leftovers. $200 ,000 of them is unaccounted for. So no, I think our emergency fund was like$10 ,000. does that make sense for your living situation is that six months no not i wouldn't say six months maybe i mean not with my spending habits yes girl this do you even understand what is happening here look at these lines of bull guys this is on a credit card that we can't pay off that we're spending more on it than we put towards it and is losing more than 700 a month in interest right so i didn't i didn't understand how interest worked when i started that card started but you're saying like you understand it now i i don't fully because i felt like interest to me um like over like for example like that card has 30 interest rate on it so that means that like If I don't pay it off, then I have to pay 30 % in addition to whatever the balance was.

23:40Kind of, essentially. So whatever the current balance is, it's taken. Essentially, that interest rate would be applied to it for the annual basis. And then it's divided out to 12 months as what is added in interest. Yes. But what confused me was I would look at some statements and I wouldn't see interest charged for a few months. But you relatively understand interest now. Yeah. You said you didn't, so maybe that's why you're f***ing up what you do now, and yet this is still happening. So what? I was confused because I wasn't seeing any interest charged up until this statement. Yeah, when I looked at that statement, I saw I was charged like$700.

24:14But when I looked at previous statements, I didn't see. Was it interest-free for a while? No. Well, every statement shows interest. Yeah, I know. It's a statement. And then I looked. I think it says over the year, I think I've paid like$2 ,200. Oh, good. Kill me. interest is that true this is insane what are you doing three thousand dollars in interest accrued this year so far this is what doesn't make sense even even even if it wasn't just putting on this card even if this was just in the checking account okay we have stacked this is a thick pile listen to this sound this is a big pile we have all this other debt we have all this other debt so even if this wasn't on this card the spending is insane spending makes no sense how much so we know what came in we know what comes in we know what comes in but what came in was bull either way we know what comes in how much you guys think how much do you think you guys spent what do you think was spent again probably six thousand dollars both of you guys combined together comes in on a monthly basis five thousand five hundred or something like that what do you think was spent in a month where only three thousand came in for the household what was spent um i don't know the month but i think like give me how much was spent nope no no the month how How much do you guys think you spent in that month where$3 ,000 came in?

25:27Maybe like$5 ,000 or$6 ,000. $10 ,333. How does this statement exist? Regardless if it's on a credit card or not, it makes no sense. Both of you are individually going out of your ways and eating out three times a day separately in order to add up to this kind of shit. This is crazy. How much do you think you spent eating out? What? How much do you think you spent eating out in the month? Eating out. in one month most recent month like somewhere between 600 and 1000 kind of 786 miscellaneous bullshit things that does not improve your life just dumb little subscription or not even subscriptions dumb little little purchases of little things well they're not all dumb no in the miscellaneous bullshit category yes they are there's other categories in here that are probably not the dumb purchases the dumb purchases 1821 dollars as in that's actually less than i thought 60 60 percent of what came how what how i just i recognize that we make dumb purchases okay well then why the f*** have you not changed it um well so that's that's the thing is like i spent 10 years of spending bullshit okay no more of that that already happened we learned about that we get that okay yeah but you can't sit here for the rest of your life and say these eight years or so was bad so i'm gonna be 68 and i'm gonna to still be around that's not how it works it's been a couple years i know that's why you're here and that's what every single person says on the show doesn't mean i'm not going to call you out or question why things are happening so we can get to the bottom of it i want to understand in what world possibly if you are able to recognize that this is bad now someone that goes through that and doesn't learn the habits doesn't learn what's wrong would not recognize that this is bad so you've already made the progress of learning that this is bad but why have you put no actions behind it no actions i will but no no no that's not how this works i will i will what is i will what is i will i will like now now i could be doing anything bad i could be doing anything bad and say i will stop doing it okay i wills nothing step is discovery right so yes but you beat first step before this so where's the i will the i will should be i done i do wane well i mean we we completely ate our like funds like two months ago and so what what so i didn't realize what until now no no no what do you mean huh ate our funds yeah like the the 600 000 like we i thought we had more i thought money would go farther which is where i'm regretting not Do you guys track your money?

28:09Do you guys have a budget? No. No, clearly not. Sit down with Mr. Hubby, the hubster. You know that guy. Hang out. Have a good time. Put four hours aside. Take the budgeting class. Go through it and get it for free. Take the investing one as well. I highly recommend. But go through it. You guys can get them bundled at a big discount, by the way. But go through it because you get it for free as a guest. So do that. Learn how to budget. I'm going to build a budget by the end of this, but it's like a makeshift budget. It's a high level understanding where we are, what we can do, what's the income like, what does debt payoff look like.

28:45But you guys need to get down to the nitty gritty, see where spending is going every month and how that needs to be changed for the next month. That makes sense. So make sure you guys go through it. But we're going with Kate's skating rink and Apple Bill, Taco Bell, storage, Sugar Creek, Sugar Creek, Possum Provisions, Ice Cream, Soccer, Aaron's Good Girl. You're Aaron's Good Girl? I don't know what that is. No, maybe he's Aaron's Good Girl. Interesting. Kindle Unlimited. We can go to a library. I bet they have one. I'm sure North Carolina has figured out libraries. Yeah, there's one walking distance from my house.

29:25Oh, kill me now. Starbucks a vending machine for Pepsi it's not even not even a real beverage Buster's real ice cream McDonald's Chipotle Starbucks go get any more Pepsi Apple subscription or in-app purchase Bath and Body Works so we can smell all pleasant say cheese spice and tea Taco Bell Uber One instant ink samsonite factory apple bill or in at purchase$85.79 what the that one was reimbursed hungry how is pizza hungry how is is really good hungry how is this pretty good I miss it I don't think we have them down here butter cheese crust well it was so good you went back again and then water bean and coffee yeah that's that's that's how I want to describe my coffee that I spend $100 on is water.

30:22Starbucks, EA dude got a$42 game where he's buying crate boxes. I like to play The Sims. What are you spending $42 on The Sims right now? That's the last time The Sims games come out. 10 years ago. No, there's expansion packs. You're getting an expansion pack every month? Well, no, not every month. Did they just come out with one? Yeah. Really? They just came out with one again? Yes. And it's all about relationships Relationships and love. Yeah, because that was never in Sims. And they added a dating app in Sims.

30:55Shopping is hard, right? But I found a better way. Stitch Fix online personal styling makes it easy. I just give my stylist my size, style, and budget preferences. I order boxes when I want and how I want. No subscription required. And he sends just for me pieces, plus outfit recommendations and styling tips. I keep what works and send back the rest. It's so easy. Make style easy. Get started today at stitchfix.com slash Spotify. That's stitchfix.com slash Spotify. I own all the expansions, so they have a lot of my money. Yeah, you have no money. You blew through$600. $300 ,000, really, because at least the other one went to a house.

31:35i vip subtrial amazon real ice cream color mark an apple subscription upper bill something jets pizza uber eats subway at least get food that isn't just disgusting target it's hard to know amazon a peloton membership gotta do that to get off all the jets pizza hulu undercurrent coffee amazon went inside got some bs pepsi sir oh you wouldn't say got some bs from there target again it's it's hard to know they're more pizza you guys are obsessed with pizza vending machine vending machine starbucks when it's i got some bs taco bell inner peaks buster's real ice cream crown tickets when it got some bs south of the store got some bs linkedin premium i guess you are i just yeah i disputed that one did you win it's still pending you're not gonna win yeah why would you win why would you win that it's a subscription you probably signed up for well yeah but the the free they gave me a free month and then i just forgot to cancel so don't dispute that you forgot to cancel that's not they didn't you over you forgot to cancel what are you talking about well you're abusing it doesn't matter you're disputing the disruption the dispute well yeah like i shouldn't be charged if i didn't use it you should be charged for a subscription that you signed up for and didn't cancel yes you should what are you talking about I guess but I feel like I should get I feel like you should cancel subscription If you're not using it like a responsible human Yeah I just I forgot it happened Yeah so you should dispute it and take away Companies revenue because you were irresponsible Well I Disputing is if you got scammed or if they didn't deliver the service That's valid They delivered the service you did not use it Don't ruin it for the rest of us Inner Peaks ice cream Forward Got some bagels Starbucks proof of the pudding pudding i don't know barbecue went inside got some bs apple biller subscription or in-app purchase who knows instant ink wow got a lot of that went inside got some bs went inside got some bs amazon mcdonald's metro diner when it's like got some bs chat gpt subscription when it's like got some bs this is insane this is again on a credit card that we're not paying off that is accruing over 700 in interest and we're putting more on it and we're at the credit card balance limit chick-fil-a amazon apple bill or subscription or in-app purchase and uncle matty's restaurant okay but like i have a question actual was all that i have a question though please because like yeah i'm at the max but what what is the difference between like paying something with my debit card and making a payment on my credit card and using the credit card because you're putting your balance is higher and when you're putting your balance is higher on a card that you cannot pay off that's at a 30 interest you are losing 30 on your money whereas on a debit card there is no interest you're just spending money that is there and you are not losing 30 but if i'm like paying you're not paying it off you're not paying it off that's fair you're not at the credit limit if you're paying it off you're not even if you didn't purchase any more money you would have only brought the balance down to like twenty thousand dollars no i'm like twenty five thousand hours so it's not paying it off anyway but you're paying off some of the purchases you did in the most of the month but you're not even paying it off all the way because you went and put more on it so i don't know what you're talking about i get airline miles which is how i flew here girl that does not even close to compare to the 30 you were losing on this not even close hey hey i don't did you lose uh did you spend on this uh ticket would you have had to spend three thousand dollars on this ticket no well that's how much you lost an interest from this card this year so far so i don't know what you're talking about that i got a free flight from this because it has cost you three thousand dollars well i have like 400 000 airline miles from that so i can you're so far though what was your year so far in airline miles you're so far i'm not sure yeah i don't know what your career interest accrued over since you've started accruing the miles where i promise it does not pay off what do you you're the product yeah you're the product i'm falling for their tricks yes you're not a credit card person you fall for that you just can't have credit cards neither of you can have credit cards obviously you cannot manage them you don't know how to pay them off it's a growing interest you don't know how to control your spending you're not a credit card person you need to close your credit cards if you're going to have a card it needs to be like a charge card like the fizz card you put your money on you can only spend the money that you've put on it and it still benefits your credit because I'm sure that'll be a concern that you're about to bring up yeah always is yeah I mean I do want to this is hurting you more than any benefit you get from credit you bought your house in cash anyway so what kind of credit are you trying to take out in the near future you already got the ultimate credit the house yeah but i mean like that's not going to be like a forever house so i want to be able on leveraging getting a mortgage are you just going to trade up with the equity position you have and get another house in cash well if you do you're at least going to put a chunky down payment yeah like i'll put a down payment but i don't know like it all depends i want family so okay well yeah you don't need a credit score to get a family well like to get a bigger house okay how big is your house it's a three bedroom okay so it's a normal house what's the square footage uh 1500 square feet oh that's a normal house yeah but like in the future yeah i know you want you want i get it i get it so i need to build credit well my do you think you're building credit with a maxed out credit card no my credit score used to be like in the 800s but now it's like high 600s oh and i'm sure it's gonna get worse because you're way over utilizing more than 30 percent of your credit well i have some credit cards that have zero balance because i just obviously can't manage it and you'll probably use them if one's maxed out and you can't pay it off yeah so how do i pay them off we'll get there by the end of it okay we need to get your financial situation in full context first i'm just do you have retirement when you're in that relationship are you putting anything aside for retirement so i think i have a 401k from one job of like a thousand dollars but i don't know where that exists in the realm of the universe so we're falling behind on that as well and your best decade of compound growth is almost up my husband has some 401k money i don't know how much but i know he has some i just want you to take advantage of compound growth in the market again it's not going to beat like the 30 percent the 30 percent in the card okay

38:49okay 1729 amount do chase auto who is this your car his car um so technically or technically my car but it's his car both of our cars is on your credit yeah um because he didn't have he didn't have good credit and so i got his car under my name wait a second

39:12your payment is passed due at the time of the statement at the time of the statement so is he responsible payments that are passed due is he responsible for paying for it or are you i am so you pay for it well like it's i know on your credit but in your agreement yes like well like we have combined finances because we're married right so you guys have fully combined right i'm used to people not doing that so yeah yeah we're fully combined so but i'm like the one that goes in and actually then why the are we missing it now legitimately guys i believe that you everyone in your life everyone around us can actually take control of their financial future and make their lives better.

39:52And we've spent over a year here creating tools to help make those goals a reality. Right now, our budgeting program and investing program are bundled together at a 15 % discount and you get$100 in cash gifted to you right into your Moomoo account. There's honestly no time like the present to actually take control of your future. Don't wait. Don't let this opportunity pass you. Well, it's on autopay. Yeah, it's on autopay. but girl give that a few more months that repo man's gonna be chasing you down i didn't have the money and so the auto payment was reversed and so i think i got like how long did you go in between the quit job and your new job um like one month or so how are you guys planning on surviving the summer then well like we had enough to obviously not goodbye obviously not well i mean i'm here like you're here with survived payments behind yeah that's how debt works it builds up you get the feeling of survival but guess what it comes a knocking and what comes a knocking in this situation is someone's literally going to go tow it away in the middle of the night yeah well i so i paid it now so what changed um well we got his first paycheck after the summer and so so school has started school has started now yeah so he just got his very first paycheck which was like 30 well normally his paychecks are going to be like 3 300 but he got a bonus for doing some work over the summer so he got like 4 000 on that paycheck and so we paid that off you are so so lucky you caught up on this i can't believe you're behind in the summer you're just in the summer head in the ground head in the sand just hoping you can make it first of all this car is very expensive for you guys we have a balance of 34 329 and four cents it's crazy what is this car so it's just a mazda suv year but 2023 for you too you needed that i don't have an suv so that's his i have a mazda 3 like you need a suv is what i'm saying well so he does so he's a musician and so he has money Huh?

42:10Does he make money? Well, yes. Livable money? Not if he were to do music full time. How much money does he make a month? So it all depends on services. So he plays for symphonies. Is it worth the$34 ,000 damn dollars? But he teaches music. Is he a band director, orchestra director? Yeah, band director. Okay. And so he sometimes has to carry instruments between games and things like that. Is his band good? no but he's trying to make it good and so but then he plays like professionally outside of that and so he gets paid for like those services but it's he's like a backup he's a percussionist so but he's like a backup so it's called uh allergies better be yeah no allergies the scent in the rental car is not not good at all it's it smells like someone smoked in there and then they just tried to like hide it which is this car worth today um i don't know but there's background to that loan amount also i'm just the thing that confuses me a little is i mean you can get a suv minivan whatever you know if space is the issue for less than$34 ,000 that wasn't required no what was the what's the minimum monthly payment on this it's like 800 something

43:42but so the reason being is his 800 what what do you mean this is one of them yes that's his that's his car the minimum payment 800 listen as a band kid i can't see a band director suffering like this a band director cannot afford 800 something down minimum payment i'm sorry you can't unless you're like a director of bands at a university you can't afford this you can't afford to save your life so i recognize that it was a lot of things yet somehow everything is absolutely ridiculous here but so the reason that payment is so high is because his previous car he was underwater. No, he was like not physically underwater, but like he was underwater on that loan.

44:28And he rolled over negative equity? Yes. So we rolled over. It doesn't make sense either. How much was this car when you got it? What was the purchase price of this? Purchase price was like almost 30. So like high 20s. So you didn't roll over that much. You still could have got a cheaper car. You could have got a 10 ,000 damn car. Yeah, but we wanted a new car. Wanted. Wanted. Your life is going to be via want. Yeah. Would you like to retire? Would you like to have a family that does not worry about finances every second of your life? I would like that. Oh, good. Yeah, sacrifices are required for that and giving up some wants are required for that.

45:07What is the interest rate on this? It's at like 8 point something percent, I think. Or 10. Somewhere there. 8 or 10. 2 % can make a big difference? Yeah. Wait, first of all, how do you not even know? How do you not know what the minimum monthly payment is? I can't put it down. How do you not? Well, the minimum monthly payment is 800 something. 800 something. There's so much in between that that can... 860, 840, 8 something. If I had it You know, if you knew how to actually pull a statement as we requested, I could tell you what it was. Instead, you took a screenshot of something. Well, the statement I saw, I originally sent like the July statement but i don't know why it wasn't populating like a new statement so i took a screenshot for the latest oh so you got a rental card here didn't you aren't you flying in flying out the same day well yeah but i did the rental car make mathematically sense than just two uber trips yeah it was cheaper than uber right two uber trips yeah how much is the rental car uh the rental like with taxes and everything was 50 yeah because with the credit card i get avus preferred and so I can pick the mystery car if it's that again you're not making up your difference for the credit card so I'm going to say$8.50 for the car payment we'll figure out the value for it because you might need to get rid of this thing that's an absolutely insanity minimum monthly car payment for you guys do you even know the term length on this?

46:36probably not you don't know the minimum payment it's five years okay

46:43yes mid-2028 okay love sack so that's part of the furniture debt that i was talking about and that one really scares me so it's a sofa but we got the sofa that has like the built-in speakers and the subwoofer and all that and so but you called it a subwoofer subwoofer interesting how you say it i'm sure probably i mean that is kind of how it's spelled right but i always hear people call it subwoofer i've never heard subwoofer before it's interesting subwoofer subwoofer yeah i mean makes more sense to me sure that's probably how they say it where you're from yeah and so we when i got that sofa we had we still had the money from the divorce but i was like let me get it out on the credit card because they they gave like a small discount and then also like i'm like i'm just gonna pay this off so it's it's okay um but then we didn't pay it off and so next month the deferred interest period ends yeah and we're gonna get charged interest you know how much i think i saw it was like 22 or 2300 yeah literally you are going to be essentially fined and lose 2389 because you're not gonna pay this off i mean you're not i yeah i'm not there's no way definitely not love sack is that what you told him the first night you met him well so part of the reason we got that sofa is because you can take out we have four dogs and two cats and so oh my gosh i love animals but i bet that place be stinky well that's why we went to bath and body works but um covering up does not work as well as cleaning it up so the sofa we the previous sofa we had our dog like projectile vomited all over and there was just no cleaning it and so we had to throw it out and so we got this yeah but you got a stupid expensive sofa that like i mean but so the covers are like everything on the sofa is removable and washable like including the sides and the bottoms like everything you wash everything and so that's the reason that we wanted that sofa back yeah i ended up afford it getting a couch that's like the material is like in between leather and regular and it's like an indestructible like thing that you can wipe off all the dog stuff that's i get it i get it um but i did that when i could afford it well i could afford that okay lies because if you could afford it you would have paid it off you would have at least put the minimum monthly payment towards it that was required to pay it off before the deferred interest hit it's a six thousand one hundred seventy five dollars and uh how do you forget about something that's literally about to cost you an extra two thousand three hundred eighty nine dollars next month so like we had set like our intention was totally to pay it off like within the first three or four months because we had the money back then um but we set it up for like auto payments for the minimum as like a just in case and then we kind of like forgot okay we got the value your car 23 000 long day late night love putting on your makeup but hate taking it off there's really no better feeling and then coming home, getting comfy, and removing your makeup with Garnier Waterproof Micellar Water.

50:03It easily removes even stubborn waterproof mascara. None of that harsh rubbing needed, and you don't even have to rinse afterwards. It leaves skin cleansed, refreshed, and never dry. Head to Amazon to shop Garnier Waterproof Micellar Water now. This is what you're going to do, because this is going to save you$15 ,000. You're going to sell that car for that. You're going to borrow$10 ,000 to make the difference. then you're going to borrow$10 ,000. But like would I even get approved for borrowing? Maybe. You said you're... I don't think I can anymore. Well, you'll have to figure... You'll have to apply, figure it out.

50:37Maybe talk to different brokers. But if you're in the high 600s, you said like you'll still... You'll just get some interest rates. But again, if we get you at 20%, you don't even know the interest rate for that. But again,$34 ,800,$850 minimum payment. If I can get you to$20 ,000, even if it's also still like a 12 % interest, that is going to save you money. We can get out of that quicker. You get a 10 ,000 hour car that he can haul things around in and you can get the other 10 ,000 to, you know, pay off. So Craigslist, Facebook Marketplace, we start listing this car. Okay. You have a car you guys cannot afford.

51:10Yeah. So I can, I can look into that car, but I don't think I'm going to get approved. Cause I was trying to see about like, I had heard about debt consolidation. And so I was trying to like move the credit card to like something with a lower interest, but I wasn't getting approved for anything. Well, that's a different kind of debt. So again, you might be able to get a$10 ,000 car loan at a used car place. There are different things you could do. Again, the interest will probably suck, but it's easier to pay off quicker because it's a much smaller balance. So you just have to apply for things and figure them out.

51:37I feel like I would get rid of my car first before his car. Well, I guess we'll get to your car in a second. Okay, so we'll have a sec. It's a minimum payment of$217, but the deferred interest hits on the 20th of next month. yeah okay so we have a month and a half to figure it out yeah target so what's going on here again because you almost paid off a balance but it didn't even matter wait why is there fees past what are we doing so it's not it was on auto pay but the payment got returned because i didn't have the money in the account to make because you're over because you're spending a thousand five $500 on bullshit and then an extra$750 on going out to eat.

52:24So are we surprised? No, you put wants above it because we have a car payment that is$850 because we wanted that car. So now we don't have enough to pay our minimum payment on a credit card. But that one's paid off now. But not my doing. It was set to auto pay the full amount. And are you spending on it, though? Because you again, you spent on it even though it was paid. I have gone to Target twice since then. So it's not paid off. How much is it on it? it's only like 100 something so it's not you're not a credit card person you do not respect money someone that does not know how to respect the dollar cannot have access to debt but i use it because you get the five percent discount i don't give a you had a 30 fee and 16 dollars and 16 cents of interest again you're not beating the system you are acting like you're a credit card person without being a credit card person you don't understand it a five percent discount and then they got their 25 to 30 % interest.

53:1830. I don't know what the fuck you're talking about. You're not gaming the system. They're gaming you. But Target's where I do my grocery shopping. I don't give a fuck. Use your debit card. Use cash if you need to. That doesn't mean we put it on a credit card. But I mean, what do you do when you don't have cash? you guys in your household budgeted not getting two thousand two hundred dollars in wants can that's not an issue if you guys actually had any sense of self-control yeah and i get it the dude shows up every day and he's dealing with these dumb that are squeaking in an oboe not knowing how to make a single pitch i'd probably want to get some bullshit food afterwards as well.

54:11That makes your ears bleed. But, gotta have a little self-control. A lot of self-control in your case. Another synchrony, so you have double the sync. No, this one's zero. Yeah, synchrony, well... Oh, wait, is it? Yeah. Synchrony is where LoveSack is. Oh, it's a continuation of that. Yeah. You mentioned consolidation. I don't know if I'd want you to do consolidation. Because if I were to, Well, I mean, it's a matter. I didn't get approved anyway. But if I were to consolidate and then cancel the card kind of situation. That's the thing. If we had you consolidated, because we would be able to connect you with Relief App, who we work with, with our guests and with members of the audience for that consolidation.