The Impossible Financial Audit

40:33Is it still the platinum? I just don't know why you're accepting this. You're not a credit card person. No, I'm not. Use the Fizz card, debit card that accrues, still builds credit. But at least you can't spend more than is in your bank account. I just don't know why you set yourself up for this itself. It's fun. Watching all my money. Such a little, are we cope joking? Yes. I'm really good at that Best Buy That's my wife's laptop And Microsoft Office stuff There's interest being charged You're not even 0 % finessing It should be 0 % Guess what? It's not! How do you not look? Do you guys not look at statements?

41:15What is you and your wife's relationship With money in the household and understanding where things go? Do we not at least understand where things go? Do you guys sit down and look at statements? Look at the household budget? Look at where money's happening? I don't look at the statements. I just pay the bill because I was told it was 0 % when I got the car. It probably was until a certain period of time. It's not that old. It's supposed to be 0 % for a year. It may have been six months. I don't know. That's fair. Come on. Come on. I did miss one payment because I think that's one of the few cars that's due.

41:47It was payment? So now we're big behind on intro in-house and now we're missing best. Our lowest balance card, by the way, so far. Lowest balance. I caught up the payment. Well, thank you, but you missed it here, so I don't care. Because it's one of those weird cards that do like the first or second day of the month, which is odd. Why wouldn't you just have auto pay? Auto pay. Sure, auto pay, but have it on just in case you up and you up and then you owe it a fee. The reason I don't. So, auto pay, you're not responsible. You're not underdog. You're a 29-year-old baby. Come on. But I don't like auto pay because I like to physically pay my bill.

42:25Great, but I have auto pay set up just in case you forget to. Doesn't auto pay still take it out if you pay it? Huh? Like if you pay the bill, but like say you pay. Set it up on a certain way. You have statement balance payoff you have, which is automatic pay for the minimum monthly due. If you have it on the minimum monthly due and you already make a payment that is covering the minimum monthly due, you likely won't have to cover that. If you have a statement balance due, it'll probably take the full statement balance. There's a lot of different ways you can set it up. Some things are card dependent.

42:52Just take a look at it instead of paying$30. Why pay$30 to have access to this card for a month? That's what you just did. Right. But if my, say my bills do. Oh my gosh. So like if my bills do on the 10th, but I paid on the first, but auto pay is going to ding on the 10th. Am I paying that card twice? I don't think so. See, that's what I don't know. That's why I don't do auto pay. With that card, I don't. Yeah, you haven't looked. Because I don't like auto pay. It scares me. You like$30 fees. One time. Huh? It's a one time fee. yeah it's $30 and also why not just look to see if it would because all it says is auto pay yes or no yes but then see if it does but then I can't get$30 you are a stubborn little like an actual you're a wimpy little crybaby when it comes to money oh yeah you're scared of an auto pay yeah I am it messes with my OCD I like to control what I pay yeah that worked really well.

43:48This one time. Listen, that's not true. You've had$101 in fees this year. So far, it's happened three to four times. On that one? He doesn't even know. Do you not see the issue here? Do you not see the problem with what you're saying? You didn't even know. It happened one time. Oh, no, it didn't happen three or four times. Oh, it happened more? You don't know. So set a f***ing auto pay. Use the lovely thing called Google. It's really cool. and find out if it...

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45:25Nope. So that shouldn't even be a part of the conversation. $137 of interest is being accrued. And yes, we have the interest rate right there of the 30.99%. I don't know when your interest rate ended because we are obviously past that. Lovely. Deferred interest. I mean, there's a six month option and that's probably what you had there's a lot of options 36 24 18 12 6 i'm sure your interest is so they wouldn't want you to have that longer one i didn't know i could pick i thought it was just you get zero no they probably gave you the option of six months because they wouldn't trust you to have it longer because your credit is probably your credit 690 i'm surprised it's because i have a ginormous available credit yeah you actually your limits are kind of high but you just still hold balances yeah my credit was 100 points higher a couple years ago i'm sure it was but then dummy me i see my giant credit score because i've always wanted to try to get to 800 i'm like oh cool i have a 750 or like a 755 let me go get like what i would consider like an elite card an elite card why why is it a status thing i don't know i wish i knew but it's like in the back of my mind it's like i want this really bad card card it's a card i don't understand why people care about it i really don't i just get whatever is best for the points that live with my lifestyle yeah other than that who gives a who gives a yeah so then i get these nice shiny cards and then you get a dopamine hit when you spend on it and then it just there it goes oh okay it was self-admitted that's great then you can't use cards no okay just envelope system yourself there you go you should i mean you just said it what does that even mean yeah put the money that are in each categories of spending after you figure out a budget go through our budgeting class go through our investing class go through our debt class go through all them with your wife please um not the 11 year old not yet but you know let them have it eventually go through them take the quizzes learn you get them for free they're all bundled together for 15 off literally over 10 000 people have taken them and actually changed their life we've heard from them take it for free Once you learn that budget, you learn what goes into each category, then take dollars and put them in the envelope.

47:34Once that category's dollars have been fully spent, you cannot spend in that category anymore. You're forcing yourself. You're not getting the dopamine hit of the swipe or the chip or the tap. Like physical dollars or just like numbers on? Yeah, physical. With physical cash? Yeah, that's when you're starting from baby mode because you are in baby mode because you're a little child, okay? You have no ability to manage your money to save your life. I can manage it. No, no, no, no, no, no, no. It just manages away. Huh? Okay. Just manage yourself away. Ha, ha, ha. Yes. Okay. Yes. Little humors. Sure.

48:07So you start with that to train yourself and then you can transition to more of a digital wallet and things like that. But you have self-admitted that you get that dopamine rush. you nut every time you swipe a card and i need you to manage that okay so then how do i you need to have an endless goon session set of the ends instant ending so then how do i pay a bill if i'm mailing like do i mail the cash to the credit card company i see what you say yes some things are gonna have to be digital but we can still what i would do is essentially um a good way to do that could be having that proper money necessary for that bill set aside maybe in an envelope and then we deposit it cool now you know that bill is taken care of but we're still not spending digitally okay i gotcha because i was thinking how am i going to mail 18 envelopes a month that's insane no no no i'm not i'm not suggesting mailing money definitely not because that's always a great idea yeah the postal service is so great okay this one this one seems zero percent we're at one thousand one hundred seventy nine dollars and twenty five cents with a thirty five dollar minimum to payment i didn't get that best buy minimum the best buy minimum is 51 these are starting to stack for someone that only has 40 of their income left out of their housing and that's not even including utilities internet or anything like that okay purchasing we're still purchasing it is zero percent but it still takes six years to pay off doing the minimums without adding anything more and you endlessly add so again oh i wrote your previous balance damn it your current balance is 1 366.85 this one is primarily for gas because it's okay fantastic well you're putting it on a card that is a zero percent but guess what you thought your best buy was a zero percent so do you know in the sentence tell me please didn't know that one was at zero Like I said, I don't look at the statements.

50:03I just pay the bill. You're paying the minimum, but you're allowing interest accrues. So you like thousands of dollars being taken away from your wallet? Well, no. Your hard-earned money that you're actually working hard to earn. No, I just... Okay, well, you are doing that. When I put myself in the situation I'm in, the only thing I can do is the minimum payment. I know. So we stopped spending on here. We already saw that first statement. It was bull****. It was all Amazon dumb things. And we went through, and there was nothing that was a real true necessity. There has been interest this year so far.

50:33Wait, okay, so why is interest? Yeah, we have something. You've gotten back into a promotional APR. When do you think it ends? So you don't even know what's on. I didn't even know it was year percent or whatever. Oh, congratulations. It ends in less than a month. It ends in three weeks. And then it's going to be at 27.74 % interest, okay? $70 of fees this year so far. I'm sure you've had late fees. Probably about two. Probably. Because you don't know anything about your money. Because you've never looked at a statement in your life. Please go through our f***ing debt and budgeting program. Please, for f***'s sake.

51:06Oh, you probably. Someone inquired probably to get onto a promotional. Please help us. We're drowning promotional thing. Or someone at the bank was like, we're Bank of America. He's an American. He has an American flag right there. I love him. Let's give him a little taste of freedom. My wife actually told me to get that card. Because she has the same one. Are you guys separate finances? So we have a combo. like me and her have a joint account and then she has her own checking account we separated that years ago because I spend all our money oh you're the just you're the I'm the spender man baby I'm the spender man baby she's the typical like my kids need all of this I'll spend hundreds of dollars on the kids but my I'm walking out of my shoes I'm not gonna buy myself new shoes me I'm like okay I'll spend all the money on the kids and I find you new shoes I'll just go buy them okay we're obviously gonna have to make more money to get out of this situation what do you want to do do you want to do 80 hour paramedic for the rest of your life no i actually want to completely change fields because what do you want to do i well so that's what i've been pondering for a good give me do you have a few i have two yeah i've got kind of like set paths so for one path that stays in the medical field i want to go be a crna okay but that takes four five six nine years seven to nine years cnr because i don't have no no no um yeah a cRNA it's um basically an anesthetist with surgical capabilities and starting pay fresh out of college no experience or yeah fresh out of school no experience how would you be able to manage your mortgage with nine years that's where the problem comes in that's a problem what's the second that one takes seven to nine years because i don't have a i don't have a degree i just have trade schools yeah so then aspect number two i want to go be a criminal defense attorney for sake do you have anything that takes less than nine years no again this mortgage situation you're going to put yourself in a small apartment so that's these things that's where the big problem comes in of me not being able to go back to school so i can circumvent some of the schooling with um my wife is getting her degree and she's using in what health care business administration but she's going online okay you cut that oh oh cut the school name yeah okay that's fine um i mean that's where everyone goes online for everything so what i can do is um partners with sofia and sofia you basically pay a fee or monthly subscription you can take as many classes as you want and all you do is you can shortcut these classes so you take a test if you pass the test you get credit for the for the class the full credit like a three hour credit if you pass and then stop saying the name we have to believe it every time a nerd and then well i just don't know I don't want people to know that's where she goes to school.

53:49I know, but you keep saying it. So even if I don't want... Stop saying it! Keep talking! Okay, so then Sophia is accredited with another online school that accepts these credits that you can fast track a four-year degree. So you're considering this? How much is this? So Sophia is like$90 a month and you can take as many classes as you want and then the online school you pay... But you can't get through your master's and stuff like that either way. No, you don't have to go to a real college but I can cut out two years of bachelors yeah two years of bachelors two ish if i mean you're like associates like the gen eds no you can get a four-year degree from this online school so like if i'm in school but through sofia it's both i don't know much about the sofia thing i right so you piggyback the both of them so you do as much as you can in sofia to transfer to the online school and then you finish your degree with online school there's any people that have been through this in the uh who's in the audience i would love to hear your thoughts on that i i've never heard of sofia i know the school she's going to yeah so then the school is an accredited university okay so then i can cut out years on my bachelor's and then if i want to go the lawyer route it's an accredited school and then to get it to law school i apply and pass and then if i get into law if i get into law school then that's three to four years three or four years of having to pay for this mortgage that's already 40 60 percent of your income so then the problem is we law school law school's full-time it's either four or five days a week obviously no the problem is that you that's not the school isn't the problem law school isn't the problem those future goals aren't the problem the thing is you've set yourself up for an expensive lifestyle that you can't afford if you want to do anything but grind forever right that's the problem you are miss again and this is actually worrying that you are naming the wrong problem you don't understand that what you did that got you here is the actual problem because that just means that you're going to end up here again post-school you're going to lifestyle inflate yourself to if you guys are making like 150 300 thousand hours a year as a household income, you're still going to have your household mortgage be like 60 % to have this castle because you need more space.

55:51I need two movie rooms or whatever. Like that's how you will do it if you did not learn from this mistake. Just like when you consolidated your debt and you sold your house and you used the equity position that you made money on and you just built your debt right back up again. The fact that you do not know the actual problem is dangerous and scary. well i guess it doesn't help you if in your your if your wife i guess i can't gift you i i could gift you a course career certificate there's it has nothing to do with what you're doing it is 25 off uh or no it's black friday whatever black friday i think it's 25 off for all their certifications for those interested in the audience by the way but uh if there's anything we can provide to you on that education front.

56:38We definitely will, though. Save your one. Capital one. This balance is thick, dude. It never goes away. You spent more than you paid towards it. What do you mean it never goes away? Come on. You're not a little victim. You did this. No, I know. It's not it never goes away. You don't allow it to go away. You want it to be there because you allow it to be there because you have a leash around it. I think it has a leash around it. No, you spend on it. It doesn't. It has a hold of me. It's like, I'm not going anywhere. By your... I think we have a leash on each other. Sure. It's some kinky thing.

57:16Whatever. $7 ,619.74. An insane balance. And all these upper absolutely wild for your life. For the income that is happening in this$250 minimum payment. I do not know how this is all going to fit, man. I do not know. $414 of purchases, but he only made the minimum payment the month before that. What the f***? Again, we are doing this on a card that is accruing$174.09 an interest on a monthly basis. You don't know that because you don't look at a statement. You just want to make sure you can make your minimum payments. I'm not shocked we have late fees everywhere throughout here on these cards because, again, you're late on all your payments.

57:56You're late on the HOA. You can't afford to pay that. We have no savings. I'm curious to hear about why here in a second because you said you had to not anymore. That means something. so i'm just not surprised we see we've had late so let's see do we have fees there we go we've had a late fee this year so far there it is i see i knew and i didn't even see that when i was going through here and scanning what i was looking at today okay because this is crazy because you stretch yourself beyond where you can go to so making sure you say you don't know the interest you don't know what's being spent on here you don't know the money as long as you can make your minimum payments but through all these cards you have missed minimum monthly payments so that's not even true your logic of i just make sure i have enough to make minimum payments isn't true because you miss them disney plus hulu netflix subscriptions i promise you don't need if the little kids need to watch something put them on this free app it's great and then and some utilities and walmart 24 dollars who knows and then donations to a church i think okay so the thing we believe there was a sports restaurant that you went to for 70 dollars that's five kids that's five of us yeah you can't go out to eat you dumb you're gonna lose the house sorry the only reason i'm angry and i it's the kids it's the kids no yeah get off you're forcing them to go through what is going to be traumatic in their life and you don't care.

59:26Had a thousand five hundred dollars lost this year so far in interest on just this card. One card. It's a lot. Good cope smile, dude. It's there. You're going to get through this with that. Of course we've missed payments. Huh? It's better than crying. No, it's not. Crying's a real f***ing emotion instead of trying to laugh your way through this. It's not a joke. It's real. kids are going to be crying when they're forced to leave their house because of you 27.74 interest rate this just keeps going what are we in fat stack 2.0 city costco card that one's going to be have that one's going to have a high expenditure oh no it has a high balance too 7 000 why two seven thousand dollar cards and your income is insane that one has the move on it which the movers royally oh sure everything's everyone else's fault according to you what what'd you get i owe a lot of money why'd you get they quoted me 1500 to move from one house to the other which was not far in distance and then when they moved me in after they broke a bunch of my charged me 3200 okay one did you get the insurance to them there's oftentimes insurance you can get through them they didn't offer it okay then we don't use those movers because every mover offers insurance that's usually how they make extra money but they f***ed up great number two they probably charge you per hour and quoted what they thought it would take and it ended up being twice as long they quoted me for six hours they were two hours late how many men did they quote you for versus how many showed up quoted me for two trucks how many people though five five so you don't even know man there's five or six and then they quoted me for two trucks for six hours and it took two trucks in seven hours but they were so they were two hours late so it was like time shift just moved okay why didn't you dispute the charge i did so and i've never disputed a charge before and when i disputed it with them i didn't know you only get one like paragraph to put like one opportunity to say this is why i don't like this charge and they the city bank denied it they denied the dispute you mean you only get one did you put in the reason yeah yeah so when you then what does it matter that you only had one chance to explain i thought you got to do like this is a summary of what happened okay we're going to contact you and then i can further explain like going to more is lacking i would yeah well then you shouldn't have done that regardless why would you want to have a lacking summary for something so expensive because i thought they were going to come back i get why but why have a lacking summary regardless they had a 500 character limit and i couldn't put i don't know well the basic you told me was less than 500 the hey they charge us twice as much as they said they were going to and they broke all our stuff and didn't offer us insurance.

1:02:18But I wanted to have, like, I had, like, time stamps and line items and pictures. I get you. I get you. Okay, that is good. That's what I was hoping that they would come back and say, can you explain it? Call the bank. Did you call them? No. You haven't even called them. Then I have no sympathy. You haven't typed in a number to call. I have no sympathy. They said the dispute is closed and done with. I get it, but you haven't even tried to call. You never know what can happen, man. You didn't even put the effort. Come on. And banks are usually pretty darn good about if you're disputing and they think there's anything anything sus going on working but i don't know man it just sounds like you probably didn't know what you're signing up for do you think i could still call i mean i don't know it's where everything's worth a try that's fair yeah because i still don't believe you knew what you're even doing i mean i knew i was signing up for movers but when they hit me with the price i was like that's insane and so to get honestly for that many people that many trucks i don't know if it is insane for that much time.

1:03:18When I've done moving, I do two people, one truck. Typically, I actually did three people the last time. It cost me five, six hundred dollars. And it was for a couple hours. So six hours, two trucks, six guys, seven hours. I'm not really surprised because a couple of the other companies I'd quoted me was there's one bigger company that they were going to send four guys with two trucks. It was like nine grand. Yeah. Moving's expensive, dude, if you don't do it yourself absolutely okay you made your a little more than the minimum of the payment but it doesn't matter because you purchased a thousand seven hundred eighty seven dollars tires okay i had to put new tires on my wife's car and there was yeah tires sensors was like 1500 and then guess what you're gonna have to do tires again at some point for any car um but hers were like also can't afford bills so metal was showing on her tires well you're spending on going out to eat and stuff is if you if we know we have to get tires we can't afford to get tires we have to put it on something that's accruing interest we probably can't go out to eat wow who would have thought 88 041 cents of interest is accruing so costco did the tires yes and then there's also costco spending costco spending and dream sleep machine that was i went to 167 i went to a sleep doctor to try to get a sleep study you have sleep problems my wife says i don't my wife says i snore and stop breathing in the middle of the night oh i sleep just fine oh that you stop breathing oh so this is like a sleep apnea test yeah so oh okay that's good that's good i couldn't get the sleep apnea test and that charge is also bullshit because no no it's not like as in i i paid it but i talked to a doctor for three seconds and he goes so do you have trouble sleeping welcome to health care yeah it sucks he was like do you have trouble sleeping i was like no i sleep just fine my wife says i snore and stop breathing okay well you fill out your assessment get get scheduled for a sleep study goodbye okay yeah i was the hundred whatever that charge is so then the lady comes in and she's like hey uh your insurance is going to be six hundred dollars a night for a sleep study and i said no thank you walked out well the fact is is with your income and with your life and with the dependents you have you probably should do it and you probably could afford it if you weren't done with your house if you don't weren't done with your spending because this is actually something i would say you should do i'm not paying six hundred dollars a night if you're i get that you You can't.

1:05:36You spend more than that going out to eat. So great. So but you could die. And then and then what do you have life insurance, please? Yeah, I think because you're going to be stupid and get yourself killed by not taking care of yourself because you're putting food. $70 at a restaurant over you being able to survive the night. But your priorities are whack for my so stupid for my life insurance. I went above like the auto accepted minimum. It's up to... Good, because you're dead. Your priorities are whack, man. You're just acting like a dumbass. I wouldn't be surprised. Oh, Chrysler. Oh, for...

1:06:16What? What am I looking at? My car. Zero percent though? It's a lease. Oh, okay. Well, then all that really just baked in. A$712 minimum with the payment? Oh, f***. Oh, f***. is this going to be possible oh it's been possible no your debt's going buddy you spent more than double what you made because you put your spending on credit cards that are just going up and you're luckily have high credit limits allowing you to do this you think it's possible because you've been able to do that so far but you're going to hit the credit limits and then you're f***ed this purchase wasn't my fault I got salesman oh you stop being it happened I went there for one thing shut the f*** up that's going to piss me off How do you have no responsibility in this world?

1:07:02Are you a damn child in every instance? That is going to rage me. What? What? I went for a different vehicle, a used vehicle, literally half the price. Uh-huh. And I got salesman out of it. Uh-huh. He's like, this is a piece of shit. Uh-huh. You're not going to like it. And you have no way of advocating for yourself or acting like an adult? Uh-huh. And so I went with something else and I got - Oh, crazy story, dude. Great. Yeah, it was fun. Baby.

1:07:37Stupid. Because 700, I don't like... Two parts of my rage here. I have to explain my rage because the audience doesn't understand it. When I get... It's also just parasocial and weird. But whatever. Okay, so my rage. What is it? One, I got salesman. Of course, it's not your fault. everything's out of your control two i don't know what we're gonna do man this 712 has to have pushed us to our limit if we incorporate whatever expenses in your life including food for the family it has to have pushed you to your limit and i don't know what to do i'm scared to find out where this ends really okay what's your term on this and where are you in that term it's over in February, this coming February.

1:08:27Oh, thank goodness. Thank goodness. It's the only price spot because you're not going to buy it. No, no. You are going to go get a$10 ,000 car max and you're not going to get salesman because you don't know how to advocate for yourself. That's going to be it. Okay. Are you creating videos as a full-time creator? It's a grind between scripting, editing, and oh, all those endless little tweaks. And sometimes it feels like taquitos would be honestly a better career choice. But that's where today's sponsor InVideo AI comes in. With over 10 million users across 150 countries, InVideo AI is the world's most used AI video creator.

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1:10:41Make sure you get it taken to a mechanic. Make sure the mechanic gives you the thumbs up that it's going to last a few years without you pumping a lot of money into it without you uh being in a dangerous situation okay physically and financially uh so the only problem i'm gonna run into with the lease is my miles what you know it's like yes and i'm asking what the cap is 45k and i'm currently at 49

1:11:11what's the 25 cents a mile i think that's like the standard so you're gonna be at what 51 give or take a thousand let's call it let's call it call 52 5 to be safe huh 5 250 no no no oh miles 52 500 on the car when i turn it in what 52 000 yeah my round trip to work alone is like 30 miles. And how much you were allowed to do? 15k a year. So 45 total. So it's like 7 ,200 in miles. Yeah, 75. So on the charge per mile? 25 cents. Wait, wait. Why can't I not do that math? Wait, whoa, whoa. How do you do that math? Oh, wait, wait, wait. Okay, I can do that. I got it. So you're going to have to owe 1 ,875.

1:12:04Just in mileage. Just in mileage. Is there any damage or anything? There's a couple of chips in the windshield. They've been patched, but they're going to charge them for it. A new windshield is anywhere between$500 to$600. I'm not saying I want you to, but you might be able to roll this over. The thing that f***ed with that is you're forced to get it with that dealership, which is dramatically limiting your options for getting the best car to the$10 ,000. You might be able to roll it over. I'm hoping there's some luck there, but$1 ,875. Technically, we could be able to do this if you didn't do stupid with your house, if you didn't do stupid with your spending.

1:12:37For fuck's sake. I'm going to make a note for that, I guess. The other option I had thought of was because my wife's work from home now that... Your wife works from home? She has a job? Yeah, we're dual income. Okay, how much does she make? 52? A year? Why hits her account? She's salaried. Hold on, but is there also more expenses and debt that she has that I don't have here? No, so I have to give her some of the bills. Every now and then. Well, hold on. But the household income is more than$5 ,500 a month. Yeah. What the f*** did you not tell me this? What comes in from - You asked for my income.

1:13:13What comes in from her account? Take home is$2 ,400. A month? A month. Okay. Because she pays all the insurance stuff. It helps. It helps. Oh, well, then I need to know. Do you know those amounts for the bills she takes care of, too? It's whatever I tell her to pay. Usually, it's utility bills. No, for everything she does, like insurance and everything. she pays $450 for health insurance. Oh, before her money hits. Yeah, yeah. Oh, okay. I thought you meant like car insurance. No, no, no, no, no. I have the car insurance. Okay, okay. So the Chrysler, okay. So$712 a month. Okay. But back to the car.

1:13:51So, and I'm sure this is a bad idea, but to avoid like lease fees and all that if I turn it in so CDJR, Chrysler, Dodge, Jeep, Ram, whatever has the deal like if you turn in your lease to get another lease. Don't. No. We're stopping the cycle. Okay. We're stopping the cycle. Furniture? Good. Fuck off$4 ,146. Bought a lot of furniture. Apparently. Okay. $4 ,146.26 is owed for furniture. The minimum payment of$166. Okay. Let's see here. they're gonna be at 18 but when wait oh wait wait wait oh it's deferred interest oh oh when does this end 24 no stop stop stop stop you don't know anything we've learned this through this conversation i don't even want to dig here i'm sorry i i don't i wouldn't trust your number it's not on here is it wait got it 24 again you do not know what you're talking about man one ends in seven months okay not 24 the 1199 is owed in seven months accrued interest so far on that one is 545 and it's only going to go higher the other one is probably the longer one that's going to end more in like a year and seven months okay that's 3 790 but that's already accrued 314 and it's accruing$56 a month in interest that you will have to pay if you don't.

1:15:36Do you understand that? Yeah. That that interest will back hit you? Oh, no, I didn't know that. What did you think I was talking about this entire time? When I was talking about interest accruing, what did you think was happening? Well, on this one specifically, what do you mean by back? Because it's 0 % for X amount of time. if you don't pay that entire balance in seven months of a thousand one hundred ninety nine dollars the interest that it was accruing on the back deferred will hit oh which so far is 545 for that one it will likely be close to about 700 okay and then the 3 790 that's gonna be like a thousand dollars by the time that hits no it's gonna be like a thousand five hundred maybe two thousand by the time that hits okay if you do not pay it off in time gotcha that makes sense Is this another debt?

1:16:27Can we be done with debt? That's the mortgage. This is the house. Jeez. Hopefully that means it's the end of the f***ing debts. Because this is such a long episode.

1:16:41$325 ,940.43 is owed at a 6.625 % interest rate. That's just about where we're at today. and the minimum monthly payment including all the goodies escrow distributed is $3 ,258 right? Yep. Gosh that is so expensive. For you especially. Well again the wife's income that's actually coming in to help. Let's see what the percentage is now. Still very very bad. About 42 % you would cap it at about 30%. You're still putting yourself in a dangerous position. position. It's not as crazy as it was. But it's still very dangerous. Oh, what is this? It's 311. For you? Yes. So you did go to school. You dropped out.

1:17:32I used it for trade schools. Did you complete trade schools? Yeah. I'm all starting up. Great. Paramedic. 2 ,556. This isn't crazy. I got it in 2014. What's your minimum? 120 and they're both low interest one's like 3 % the other one's 4 % 140 120 they're two different ones they're broken up real weird yep that's student loans for you federal ones at least I did have a year of like whenever they is that the debt oh my gosh no there's one more that I guess I didn't submit my wife's car no apparently it's on it's included in one of these checking accounts it's on the A plus Yeah. Let me find it.

1:18:19Are you kidding me? How are we still going through debt? An hour and 17 minutes in. Okay, it's in the A plus card. Oh. Luckily, it's a low interest rate. You said this was your wife's car? Mm-hmm. Okay, 4. 4.5. 4.25. Oh, even better. Again, you do not know things. Let me speak. Sorry. When talking about your numbers, you do not look at them. So I will tell you what they are.

1:18:46It's$40 ,000. Because it had a rollover of negative equity from the last car. Because they were. What's the car? Currently, it's a Tahoe. 2018 Tahoe. LT. Nothing fancy. Do you know what it's worth? 23, 22. Way more than I owe on it. I can't believe you guys had to separate your money. Just for the sole fact that you're not mature enough to not spend money. That is crazy. I feel bad for her. I feel bad for her that she's married to someone so immature. Financially, I'm sure you're great in so many other ways. This is always financially. No, I understand. But come on, she married a child. It's bad.

1:19:27Minimum to payment of$600. Again, this is getting us in a crazy dangerous position. What is the term length on this? 72 from 2022. Oh, I'm just going to... I think we're going to call her in the post show. So usually we have the significant other confrontation. So make sure you guys join our YouTube membership, guys. You can get the post show and thousands of hours of other audits and other content that we do. There's even a call-in show where you can call in and get my take on your situation, any kind of situation. So make sure you guys join that elite for all the extra content, especially. And a private Discord now.

1:20:10A lot of stuff. Super fun. Okay. Okay. And this second account, 2 ,836. It's not horrible. 2 ,412, actually. Pooper Scooper. Twitch. Rain for Twitch. Subscription. Domino's. Chick-fil-A. Chick-fil-A. Went inside. Got some bullshit. Sushi. $103 of sushi and hibachi. Come the fuck out. You can't afford that. Went to gas station. Got some bullshit. ultimate pooper scoop this is an ongoing people come by no we have a lot of dogs yeah no you order one pooper scooper off the internet and you do it or make the 11 year old do it or your wife the 11 year old dude you're their dad make them ground them you'll figure it out taking a parenting course watch some youtube videos talk to someone that knows what they're doing and parent your child okay i'm not the person to tell you how but do it guess what i was a rebellious little piece I still picked up my poop.

1:21:11They probably told me I couldn't play Xbox or something. That was enough. Uber Eats, Uber Eats, McDonald's, Smoothie King, Wingstop. Academy Sports hoping for the kids, 200. It's my wife's birthday. Academy Sports? Clothes. Clothing. Okay. Happy birthday. We're not going to lose the house. Wife, how about that? You went inside a gas station. Got some bullshit. The local open. You guys are eating out every second of your life. Yep. every second of your life twitch stanley stanley my daughter's birthday oh my how about again get them a birthday of not having to get evicted huh we're closed mcdonald's wing stop come on this spending is the dumbest mother stupid ever would you believe me if i told you it's been worse Yes, I would.

1:22:06I would. Because I know who I'm looking at right now. I've learned you throughout this. Went inside a gas station, got some stupid bull drink, whatever, snack. Who knows? Pizza, Starbucks, PayPal, and out. More pooping to scooping. Subscription to Microsoft. More Twitch. What are you? Twitch. What are you twitching constantly? You have Twitch money. You're just like. Twitch. You're just throwing it to Twitch. What are you doing? You don't know how bad your life is. You're just throwing it all. It's so horrible to see. More scooping of the pooping. Oh my f***ing, we're PayPal-ing out. We're going inside and getting some bulls***.

1:22:43And golden chick, PayPal, PayPal, poop and scoop, Domino's, Starbucks. You can get the poop and scoop when you take care of your f***ing money and act like an adult. Apple, subscription. The PayPal is meals for work. What a joke. Huh? The PayPal, it's meals at work. Like, I have to pay in because we go grocery shopping. you put into a community fund. What's your community fund? What, then I can't eat? You know what I'm going to say. Do you? Wait, do you watch the show? Every now and then. What am I going to say, huh? Bring your own lunch. Make a f***ing sandwich. Hey, there you go. You figured it out.

1:23:18You can get cheaper than the communal thing. He doesn't have to bend everyone else's wishes for lunch. $1 ,000, guys, in this little cash app investing LLC fund. Oh, retirement is just around the corner. we're almost there oh but wait you haven't heard nothing yet $285 in Robin Hood it was at our wife my wife and me guys we're gonna live in luxury $42 in this Robin Hood wonderful well done really really set yourself up oh good and I'm being told I didn't look and apparently it's all in dogecoin i made a lot of money out of it what's a lot like five grand worth so you took it all out and so i had to sell most of it good yeah because you can't afford to pay bills so i just left it in there take the investment program i'm not having this conversation i'm scared i've got a retirement account it's got a couple grand in it too okay good 401k yep okay you could have sent me a statement but all right is that like a 16 percent ROR for 15 years?

1:24:29Probably.

1:24:33Your spending's stupid if you want to take a look at it. I don't want it in front of me anymore. I'm scared to make this budget. I am scared. I think this is going to be... It's going to be upside down. I bet it's upside down. So what's the solution then? If we already know it's upside down, then there's no point. And people love it when I don't make a budget. But again, if it's upside down, what is the point? What do we do? What's your solution? What did you think? I'm still going to make it, but what did you think you were going to do? I know. What is you and your wife's plan? Well, I know the things I need to get rid of.

1:25:04One being my car, obviously. Yeah. And then go to the grocery store more versus going out all the time. That'll cut down a lot of spending. And then I think those are two of our bigger expenditures. That's it? That's all we were going to do? That's to get me started. How are you going to get a$10 ,000 car in a few months? What was your plan there? Or you were planning to just get another lease. That wouldn't have helped you. You would have had another chunky payment. Your debt minimum of the total, by the way,$2 ,230.06. But that's not including your mortgage. Your mortgage, again,$3 ,258.49. What about utilities?

1:25:49Water bill averages between$120 and$140. and electric bill lately has been averaging about$150. And or not? $80 a month. Vroom Vroom Gas Gas for both of you. So it's different now because now that she's worked for home, she doesn't fill up as much. Vroom Vroom Gas Gas for both of you. I would say$180 a month. Car insurance for both. It's$320 for both. TP Fund, anything else you need to survive? This includes things for kids' school and stuff like that. I'm going to do$200. Hopefully, you can cut that back. Necessary food, which we'll be able to get you guys. It's going to be – your kids are going to be so bored with the food you get, but I don't care.

1:26:31They can eat or they can go to bed. They can get hungry, and then they'll f*** me. Maybe. I don't know. That's what we tell them. Yeah, but – again, I'm not a parent. But either way, you're going to be meal prepping only a couple times a week, so it's just going to be lots of repeats. But it's just – we've got to, you know, survive. I think we can meal prep.

1:26:52i'm gonna do a thousand not going out to eat um medical health care co-pays anything um so i'm i'm changing my insurance coverage at the turn of the year when i get new benefits because i'm trying to get more healthy i guess i'm i pick the monthly expenses i don't know yet that's the problem so no one consistently goes to the doctor right now okay jim don't have one like don't have a membership pets How many? Three. Pet food? How much? Get it from Costco, so it's cheaper, but it's probably$80 a month. What are they? Dogs, cats, what? I have two Rottweilers and a pit bull. Okay. Do you have pet insurance?

1:27:33No. It's irresponsible. My mother-in-law works at a vet clinic. She's the manager of it. So she can save a pet's life for free if they need a surgery? No. Exactly. So you don't have pet insurance. That's irresponsible. Let's call it$40 per. I was at by$320. I didn't even know you could get pet insurance. Are you kidding me? What are you going to do? Are you going to let them die? No, I just pay. I say I pay for it, but I just... You'd pay for a$10 ,000 operation if you needed to. Exactly. If you have a pet and you don't have pet insurance, meaning you're allowing them to die, meaning you're not being a responsible pet owner.

1:28:05In my eyes, I'm sure other people see it in a different way, but that is how I see it because pets are everything to me. Phone bill. I would care credit because we've been in a situation like that before. $10 ,000,$30 ,000. Mine cost$30 ,000 recently. Somebody broke my pit bull's leg and snapped it clean in half and I put$4 ,000 on a care credit. Yeah, what happens when it's$30 ,000? Phone bill. I don't pay because I'm on my mom's account. Is there one for your wife, kids? She doesn't pay one either because she's on her mom's account. What other expenses am I not aware of that your wife takes care of?

1:28:36Daycare. Oh, how much? Yeah,$1 ,000 a month. What the fuck, dude? Wait, I thought she works at home. He's part-time. The youngest, there's only one. Can she sacrifice a little for that? We've tried, but the problem is... But$1 ,000, we just simply can't, right? We're about to add this up, and we know we can, right? Again, total household income, what was it? $5 ,500 plus$2 ,400. So$7 ,900 a month. Not a bad household income, but with where you guys got yourself. So, let me do the math. Let's find out. Shall we? Go ahead. Tell me about this insurance, or the child care. So, she's on the phone a lot at home, and he's not a work-from-home kid.

1:29:24So, he goes to daycare. Why is he, like? He's just, I mean, it's a typical three-year-old, just rambunctious and loud. Okay. So, he goes to daycare for the front half. He goes from 8 to noon, and then when he comes home, takes a nap. By the time he wakes up for his nap. What about the grandparents? They work full-time. How old are they? My grandparents? Or my parents? Your parents. My dad is 60 and my mom is 55. Congratulations, man. If you actually budget, you made it. You actually made it. So I'm glad we did a budget. I am. You barely made it. I mean, let's be honest. You're break even. But because I'm sure there's expenses we haven't taken into account.

1:30:05Food, TP, you know, it's Evan flow. You got to make the budget together. But you made it by$41.45. So I'm considering that break even, possibly under, possibly over. Most likely over more than under because you and your wife need to sit down, take the budgeting class, learn how to make a budget, and then manage it, figure out what it is together. So, yes, the thing is, working your schedule on all this stuff, following this budget like crazy all the way through February, you're still going to have to essentially take out a$10 ,000 loan on the$10 ,000 car and probably$11 ,000,$12 ,000 in order to roll the negative thing.

1:30:45If you do that, bro, now you might just have to take a little personal loan to deal with that. And you might have to, and then$10 ,000 so you can use all the different lots in town. So you don't have to roll over and use that one lot that you're currently leasing. So you're probably going to add$10 ,000 to this, but your minimum payment, hopefully we get it closer to$400 to$500 versus the$750 for the car. And that actually starts giving you some room, but only like$250 a room and$250 a room. Let's just do some basic math here, buddy. I just want to put this perspective. You have that extra sheet of spending?

1:31:19No, you don't, because I do. I just want to put this into any kind of perspective. If we take away the mortgage and we add that$10 ,000 car loan and we add that$1 ,500 you borrow to figure out that lease situation, you have$83 ,509 of debt. If you follow this completely, sorry actually we have to get rid of the lease oh the lease isn't on there because it wouldn't be it's not we're not oh wait oh no oh we did but that only uh takes you uh 2 ,977 off so okay 80 ,532 extra 250 dollars a month now so that still takes you 322 months to pay off debt which is obviously unreasonable or 26 years which is not even close to reasonable because we need to be able to retire so this leads us to a few different interesting little things um can't sell the house no way it gained equity position necessarily to because you're gonna it's gonna cost you what like five to ten percent to sell the house anyway six to ten percent so it's not even worth that bankruptcy um bankruptcy might be an option maybe start talking to a bankruptcy attorney get their thoughts on it um i'm gonna set you up with a free you and your wife are gonna sit down with people who i use for my own financial advisors licensed financial advisors don't make money and then we because of my situation my partnership with them everyone everyone including the audience and you gets a free session with them if you sign up so highly recommend that like cpa or um licensed financial advisors so do that get their take on it and see if they think bankruptcy is an option, but probably stop your side hustles.

1:33:04If you really do have extra time to work, put it towards a guaranteed income. If you bring in a guaranteed income, an extra thousand dollars a month, which is going to be hard for me because I think you're already pushing your body to the max. I really do. I don't want you to end up in a dangerous position, but let's just pretend you do. Again, what was it? $80 ,000? I mean, it takes 80 months to pay off. So what is that? That's still six and a half years. Might be bankruptcy, right? And, you know, we're, you know, keeping the cars, keeping the house. But bankruptcy, f***ing ourselves for a bit.

1:33:34And I can be able to take out credit. But you really start fresh. F*** yourself for 10 years in terms of being able to take advantage of any kind of leverage. But at least you and your wife get a relatively fresh start. Not fully. Still got to figure out the mortgage situation. Still got to figure out car payments. But also that f***ed you for that f***ing years. huh is it seven years on your credit report or whatever depends which bankruptcy you go through but it was just assume a decade um but when you have to borrow to get this new car you're gonna yourself there or you're gonna get something predatory so there are consequences and negativity things so there are options here you work yourself to a limit that i wouldn't recommend and that still takes six years to pay off the debt following the most rigorous budget ever or you're paying it off into your 50s, going the other way without changing anything, and this doesn't even include you going back to school.

1:34:27I'm sorry. This is a doom and gloom right now. The proper and better path is probably bankruptcy, which sucks. It's really the last option because it's expensive to go through bankruptcy and it's going to cause pressure on the household. So both her uncles actually filed for bankruptcy. How'd that go? It went really well for them. they did the whole they have kids I think at the time they each were married with a single kid it can cause stress on the household you know people are going to try to come get their money there's going to be fights but it can work and I think you've reached that situation where it might be the option I want you to sit down with the domain money people first I really do

1:35:11okay yeah I mean that's my take I'm sorry I wish I had a better answer you can do the long way you could do the mid way or you could do the quicker way relatively but then i think again my big concern is what do you do about your car when the lease is done if you do have bankruptcy and your credit is and then you have to borrow essentially to bankruptcy won't be done by then probably anyway so

1:35:36it's a hard one man spending the budget you overspend zero out of ten debt and you put yourself in such a beyond dangerous position but you don't have IRS debt or collections. So one out of 10. Merchants refund, nothing in savings. Zero out of 10 retirement, barely getting started. One out of 10 real estate. You do have a house, no longer have an equity position. Uh, we got, well, 20 % down, but again, if you sell the house, you're going to lose guaranteed 10%. So it's not great. And it's 40 % of the household income or 60 % of yours.

1:36:10I have to give it a mid five out of 10 because of all that.

1:36:16hammer financial score rounding up 1.5 out of 10 come to the post show guys we're going to call the wife i need to get her take on this i need to confront her and i need to see what their relationship with money is like with each other and also make sure to bundle our three educational programs that over 10 000 people have taken advantage of you get it all for 15 off if bundled i'll see you guys in the post show you told me because she doesn't trust you because you spend every dollar you see yeah well then why would you be the person responsible for paying the bills. Most of them are mine. When I call her, is she going to know you have late payments and hundreds of dollars of fees this year so far?

1:36:49Maybe. Sounds like we need to give a little ring ring. I agree. Can I put you on speaker? Why do you allow Cole to be the one that's in control of paying the bills? That is not what he said. To watch the financial audit post show, click the join button below.