Unhinged Newlyweds Destined For Divorce | Financial Audit

36:56That's stitchfix.com slash Spotify. 20 ,000 hour loan again. Yeah, I'm already seven under. Mathematically. No, you're 10. Or sorry, 10 under. Mathematically, it's just like. Well, Toyota's willing to give us 12 is the reason I got seven, but. As of when? As of, well, before it was not working right now, but. Huh? This was last, was this last month we went? Last month. Yesterday she decided to tell us she had issues. This is her mom pulling in some favors and things like that. And now she can't? Presumably, because they don't know that it's not working right now. Yeah, probably not. Worthless.

37:31Our Jeep is worthless at the moment because she's having misfiring problems. No. Yeah. So the thing we're already$10 ,000 under on is like. That's what I was in the garage working on all night last night. Maybe moving to a different car. Me. Yeah. So it's not reliable. The f***ing scraps. Yeah. I mean, it's probably just a fueling issue, to be honest. Then fix it! You're the car guy! I'm the car guy. I am. I am. I ruled out spark and air, so it's got to be fuel. Yeah. Only three things that it needs to run.

38:08So, and you were leaning on your mom working at this? Just to get us a good deal. Wait, whose mom? Ellie's mom. Yeah, my mom. you guys lean on her for anything else um so we lean on my mom for not much um because i tend to be more on the creative side i get leaned on when it comes to her business so she i'm explain i'm explain you're explain so i wanted to get into my own business by doing something creative started it off with doing resin and then it's like the stuff you pour into molds and make stuff out of okay so okay yeah did that for a while then wanted to branch off to doing strictly products for different dispensaries definitely not oversaturated yeah right so realizing that I'm like, you know, I'm not new into this.

39:12So now I want to make my own clothing. So because my mom is a travel agent, she has her own little giveaways that she does. So she invested in the Cricut machines. So that way I can make her T-shirts for people that she needs to give and stuff like that. Like final cutters and presses and stuff. Yeah. So I do her advertising, basically. So she provided all the stuff that I need to do that. And then I do it for her. What are you making from this? Nothing from your mom. Yeah, nothing. My mom bought everything. So that's the deal that we have. So you're doing it for free. Yes. Mainly the reason why.

39:54What the f*** is this point? What's the f***? Because I want to start my own clothing line that. Wow, another easy market break into. Focuses mainly on mental health. that's what I want. And as someone who's a very big mental health proponent, I'll ask what the f***. So mainly like... What is that brand? So, I mean, you go around, you see everybody's shirts and stuff. Here, you have an extra chromosome. Here's a shirt. I'm like, what is the brand? To put out messages that can reach not only you, but also reach other people. Do you have examples of this? I do. Yeah. So I don't have physical examples.

40:40Do you have it on your phone? Everything's written down. It's all outlined on my iPad. Okay. So what would you put on this dirty money? I'm an assets man. Sure. So for that, I might put something that says you are enough. And then right here on the sleeve, it says I am enough. So that way, when you look down, you can always remember that I am enough. But for you sitting across from me, I can remember that I am enough kind of thing. so have messages on the back for when you're walking down the street people can read them feel better about their day kind of thing i like they they end up looking really cool like really dope when she when she does them and it's like they're they're like done in that you know designs like supreme and like these other brands that are just that are just uh a logo research have you done on this in terms of potential consumer interests and competitors to this kind of space if there is demand for this not and this isn't always the case but if there's demand of this there is likely something i mean when we go to the markets like in arizona like the open air markets the the car shows and other things other events like that people who are selling those types of clothes we knew some folks that were doing that and well they had to close up shop you know i i feel like they were a lot of fairly mismanaged a little too thin and deciding hey let's sell clothes well now let's also do candy and let's also you guys have over 100 000 hours of bad debt yeah so what the are you talking about they're running thin oh i meant like the other companies deciding to add on too much to the plate yeah but you guys already have such a hanging steaming pile of risk over your head right and this also this sounds more like a farmer's market pop-up not a business i mean ideally with the online stuff right yeah i have to start off in the pop-up area right i'm only going with my gut i can't tell if i can't say if it would be successful or not it sounds like it's i just uh do it it's hard done.

42:46Good luck. The thing is with the pop-up shops during the summertime for Arizona is not big. It's too hot outside. So majority of the market is going to be in the fall, spring and winter. I love a six month window for all of our products to be sold. Yeah. That's where the online presence would hopefully kind of carry you through a little bit of that. A lot of it is so far. no I got it I got it and your mom invested in this essentially so you could make her clothing for her stuff yes so that way she was already paying like you know the Vista prints the other people to print stuff onto t-shirts and mugs and things like that so she got her the supplies to be able to do it what was your degree graphic design I mean that industry sucks I got my degree from a school that closed down for fraud so well did you get your student loans forgiven i did she did like last month so okay i got no student loans that's good was that in the pile um it was should show that their student loans um but they're all paid off right now okay did you tell our producer i think i i think i mentioned it that these are a thing but they should be gone soon so i i imagined it was disregarded maybe uh you did not tell us that so that is not in our financial plan just kidding but uh it was like 17 and they asked you an hour ago okay yeah that's true which is okay i mean i'm glad it happened to you guys it's hard for us to have a full concrete picture of your situation if people do not tell us the truth oh i thought i put a note next to there my bad so we have this southwest card yep that shirt business there's this is my dragon this is my beast and but you're focusing on mental health too so it's just it's more positive affirmation right mainly okay it's not like i mainly had this idea it's like yeah you'd be a little happier type yeah it's not like mental health disorders okay well and the the like letting everyone you know you had the one that talked about the hotline to call if you have a hotline on it if anybody ever needs it you know is that what you want to wear well it has it like on the back like on the back it has that the 988 number and just so that way people are aware that they have somebody that they can call.

45:10I think she finds it empowering. That's wonderful. I get that. There are definitely other people that feel that way. That's wonderful. I love that you feel good about it and I like that it actually could be cool. I actually like the heart behind it. I like that. I'm literally thinking about it from a business economics perspective. I mean, I have had sales for sure. I have had people come through and buy my hoodies and stuff like that. But for me, with all my financial debt and everything like that, it does. Oh, yeah. Yeah. It does kind of put a damper on it because it's like, well, I can go ahead and start making money in this, but I don't have money to sink into this to make it a actual profitable business.

45:48Well, not to tangent too much off on that subject, but like she's she's like her best when she is working creatively. And that's the tough part about her current job is there is no. Oh, no, that's great. And I love that for you again. I'm not against this as a concept in general. I'm literally strictly thinking flat down, no emotions involved business. Right. And that's where I struggle with this as a concept. Yeah. But. That's fair. I would love to be proved wrong. Maybe. Because that would mean you're successful and I would love you to be successful. So I'm okay with being proved wrong. But you're also considering doing that at the same time of having the Southwest Rapid Rewards card.

46:30This is your card. This is my card. Yeah, it's your card, and you literally owe$14 ,491 on it, which is absolutely insane. Absolutely. That's crazy. With$315 of interest accruing on a monthly basis and$0.33 and a$460 minimum monthly payment. Now we're at a$41 minimum monthly payment,$589 minimum monthly payment, and$460 minimum monthly payment. They are stacking, they are stacking, they are stacking. How do you have this? And why is it basically at its max? So, especially if we've been on the same page and we really want to get out of debt because we really want a home because we really want to start a business.

47:09Yeah, it's only a couple hundred dollars from the max. Yeah. So with this card, originally got it because I was going on vacation out of the country, needed something to protect my debit card. So we got the credit card. Okay. I hated the credit card. Didn't want it, but got it anyway. I was advised I needed it. So push into a corner kind of thing. After that, it was only spending it on gas, only doing it this. And then things started coming through where it was like, you know, I can just wait till I get paid. And then you start trusting yourself a little too far. And then you end up with that number when you realize that you can't control it because you aren't doing.

47:54You're not putting the things on there that are supposed to be there to help build that. Over the course of how many years? Well, that's also the card that we did the balance transfer. Why is it at the max? Why is it at the max right now, though? Because we did a balance transfer. On to here? No. No, off of there. Away from it. On to a Discover card. We did a balance transfer. I'm confused. Is this at the balance? Oh, sorry. It was a higher balance. Or sorry, you had a higher limit. You had a higher limit when we did the balance transfer. That's what I'm trying to get to. We had a higher limit on the balance.

48:25We did a balance transfer. split the 14 down the middle seven and seven was on the cards no because it was high it was higher it was like 20 something at the time no listen no you're not a credit card person no i've used a charge card like the fizz card you guys can't use any other cards you don't know how to you really don't if this 14 ,491 dollars right there if i open my muumuu app my brokerage and i bought s &p 500 just got like the sp wise in that 14 ,000 that is sitting there at 30 interest if it instead followed over the next 31 years until you could pull out penalty free of a retirement account at 59 and a half, it'd be sitting at about$317 ,000.

49:08$317 ,000. But again, instead, it's just sitting there. It's just sitting there. And we're talking about taking time away from where we could be earning real income and investing in a business that might not make money. And we're talking about getting a special vehicle so we can go up north we're talking about potentially getting a second home all this because all these different things all these choices well we're just putting the minimum payment towards this a card that is sitting towards its max at 30 interest while we drain a 401k yeah that was our choices are out of control again if that is life you want to live live it no definitely live it definitely i'll silently judge but live it okay or we could be adults financially speaking life speaking partnership speaking we can actually sit down and start working towards this instead of going up north every three seconds of our life to connect with trees i feel like we're really downplaying how nice it is to get out of the city and get away from people down playing i'm sure it's great choose getting over people or this balance which one which one i mean choose the balance i want to get rid of this balance cool let's not bring up the how nice it is i don't give a i know how nice it is to pay off debt i did it it's great and guess what now i can afford to go hug a tree whenever i want to and you do you commune with nature often Does it feel nice?

50:45I like going on nature trails. Nature trails. I mean, that's cool. Taking my dogs and letting them go for swims. Sure. Isn't that awesome, though? Yes. Yeah. I wouldn't be going getting a$30 ,000 car that went to the... A KFC tale in the pursuit of flavor. The holidays were tricky for the Colonel. He loved people, but he also loved peace and quiet. So he cooked up KFC's$4.99 chicken pot pie. Warm, flaky, with savory sauce and vegetables. It's a tender chicken-filled excuse to get some time to yourself and step away from decking the halls. Whatever that means. The Colonel lived, so we could chicken.

51:23KFC's Chicken Pot Pie. The best$4.99 you'll spend this season. Prices and participation may vary while supplies last. Taxes, tips, and fees extra. I have$10 ,000 to do it like a dumb... That's fair. Apple Card. Who's Apple Card? This is your Apple Card. That's my Apple Card. That would be Joel. What did you do here, buds? How many trees did this cost? The Apple card, that was one that we paid off when we did a lot of debt consolidation and things like that. And it got brought back up because I committed to a trip to Thailand. We committed to a trip to Thailand a year out, and it was this last March.

52:00Yeah. And so I put the flights on that. I put the flights on that. Why are we going on trips, guys? I want you guys to go on so many trips you have no idea it just makes no sense now why? why is Thailand more important? I don't understand I think we it was an opportunity opportunity to rack the cart all the way back up yeah I mean we kind of looked at it as we could do this as our honeymoon and after our actual wedding and we could do something like meet with Caleb Hammer instead of going on a trip like most people do. So you'd want to get yourself financially first? Well, I didn't think of it like that.

52:45At the time, I thought, you know, we'd have quite a few months to pay it off. And how's that going? Not very well. It's that minimum monthly payment is pretty much all. Yes, we're stacking it with another$291 minimum monthly payment with a balance of$4 ,792.30. Yeah. Yeah, that one definitely not proud of because we again had it paid off at the end of last year so we had agreed not to use and at some point some of them started to get used that one yeah i was a little guilty about canceling on my friend too for the trip because other friends had already canceled and i was then he's used to it ouch that's tough thanks i mean i don't want my friends to no i feel like i'm either do you understand just the impact this is having on your lives guys yeah plus we're still spending on it friendships are important what is this what is 685 dollars a hertz oh that was when the jeep was giving me trouble i ended up going through uber's rental program and so i would he was doing uber for a while domains yeah that's my that's my domain i was doing you have a domain i i do i was doing uh it consulting for like three years and this and i stopped uh just because i went down to one client and then that client do we need to still be paying for this probably not probably not i run a couple of i host a couple of like projects off of it too but what's eve go services that's charging i was renting EVs.

54:25I was testing the viability of EVs over gas cars. I found out the infrastructure is really not that great right now unless you're charging really fast at your house with solar panels. That's where the savings can come in. It works really well if you use it as a daily commuter. I was doing that and Ubering with it. I don't know about the Ubering. That was probably too much. As a daily commuter, it saved me money. But not when you have to charge all the time because you're running out of battery midway through the day. Yeah. That was an attempt at like a second. Who has the freedom card? The freedom to get.

55:03I think we both have one. Nope. No. That would be just you. That's just me. All right. What'd you do? Because we're at$3 ,841.23. So you're done around with EVs? Yeah. No, no. Thank you. I ran the numbers and it was not great.

55:24he had the excel spreadsheet to make sure that the numbers and the numbers all right what's going on uh so this one this one i think i've just had a balance on it for a long time and we we started to pay off we started to pay it off when we when we consolidated all the other debts but then and that was like the next card to get taken care of in our snowball um but then we started to add more balances to the other cards so it kind of negated that almost entirely

55:55it's not great most of these cards i haven't purchased on in a while in months makes me a little nervous that you guys still have access to them though because again last time you paid them off they just went right back up yeah yeah yeah i mean it it just ends up being something that we we either need to pay for or i mean obviously the thailand trip we didn't need to pay for but and when we don't have cash it's it seems like the only other option and then we the thought is that we'd pay back off when we get paid when we get paid or not when we get paid but like overtime after after we've and and it's not uh all these plans you guys have all these plans we're good planners we're really good planners yeah oh yeah you're great at making a plan and you're absolute dog at executing them so maybe take a realistic plan this time go through the budgeting program you guys get it because you're guests on here go through the budgeting program the investing program uh go through them we put so much time and education and resources into them take them together take the quizzes learn how to do it actually stick to a real life proven plan and be disciplined on it because i think you guys are also just not disciplined yeah i would i don't think you guys know how to stick to anything you probably started for a day no no no we we had we had a good thing going right we did we did we when we consolidated debt we had a really good thing going.

57:22Wonderful. That matters. Until somebody needed to buy a car that was 30 years old and Is that a different car? 8 grand on it, drove it back and it has been in a shop. We haven't seen that car since we bought it. Can you get rid of it? Can you sell it? If you sold all your bull**** little projects today, what could you get? Conservatively. Conservatively. So I'm just going to say because I put money into the car. What could you get right now? For that one? No, all your projects right now. Oh, all the projects.

57:5715. Conservatively. I heard you guys wanted to get dirty. Again. Dirty money is back. And this time you're going to be a lady in the streets and a freak in the sheets. And you know who you usually meet in those sheets? I'm personally into BBWs. Budgeting. Bonds. Well. And this sexy merch is only available through the end of this month, and then it's going away. So to give you a little extra sweet treat, we're bringing back the classic dirty money as well. BDSM. Sluts for index funds. Finance daddy. If this isn't for you, you can eat my assets, because I am, myself, an assets man. Go to calebhammer.com slash dirty to check it out before these designs go away at the end of this month.

58:45And as an extra special sweet treat, every order over$100 gets your favorite asset signed and framed. The Hammer Dump Truck. For sakes, please do it. I don't give a s*** if it's a net loss in the end. Play around with money when you have some. You don't! Take it! Pay off this card! Pay off another card! This is dumb. $35 in interest. Another$157.57 minimum payment. payment then a balance of$3 ,841.23. Just continues. What is this? Oh, is this like financed over time? Something? Yeah, so that was repairs for the car that we were just talking about. Oh, what is it? 22 % interest here? What is this?

59:28Finance charge for total payments. What is this? What are we getting? Approval for what? Amount finance? $7 ,390 for what? What'd you get? What happened here? That one. That's a prepaid finance charge. what is this cross river bank what's this for cross river bank because you don't even know that's for we have so much debt we don't even know what it's for who it is probably look at this and tell me what it is a motorcycle oh is that what oh that does sound right that does sound right we don't even know yeah that's that's we're so disorganized i thought it was a different loan we're so not knowing what our financial picture is 0.5 or 6 we don't we are so uneducated about our own situation because we're literally just putting our heads in the sand and just going forward and trying to survive and we're proud that we're making the minimum of the payments and that's all we're doing instead of making any extra progress that we don't even know what a debt is oh that's 22 oh my you didn't even know yes i didn't know that i didn't know that one and why are you do you need a motorcycle because you're gonna have a job that requires you to have a motorcycle huh yeah what's happening i i um i'm gonna be a msf course instructor a motorcycle safety uh course instructor and you need your own bike for this yeah they require that you ride like relatively uh i think at least once a week and then they want you to teach once a month so they just want to make sure that they're gonna make from this um once i'm once i'm fully trained up uh which is how long which is three weeks after three weeks from now i'll be i'll be trained up i will have taken i will have uh essentially watched other coaches coach for a week and and then how much will you make five uh 538 dollars per weekend so two days so it's just a weekend how many weekends uh you can work i mean people have done six weekends in a month but they suggest you don't do more than four weekends no like you can work during the weekday too you can do classes on thursday nights how much are you going to be earning on a monthly basis from this close to like 537 dollars like just just what's if he does it every even it's two grand two grand if you did it every weekend and that's worth having or sorry if i did it every weekend uh it would be closer to two grand yeah i might force you to because you're at 22.92 interest rate if this is your justification for having the motorcycle then you're gonna need to put your work into it buddy that's fair big guy yeah no more weekend trips up to the tree land well 22.92 interest rate of death well i i forgot i gotta put some context to that because when i got into motorcycling i was never planning on purchasing a new motorcycle i've only purchased old motorcycles for sub four thousand dollars um this was actually when ellie wanted to get into motorcycling we went and i got her a motorcycle for three grand it was awesome great bike she dropped it immediately hurt herself and i just felt really bad at that point and when i asked her i was hoping you know in the back of my mind i was like maybe it's not for her but when i asked her she's like i really want to get back on the bike so i felt really bad and i was like okay let's go get you a new safe bike gives you the best chance of staying safe on the road.

1:02:43I was really like... Your ease of going into debt is ridiculous. Yeah, I was blinded and a little scared because I was like, if she's going to keep riding... Then she dropped it again. You were in love. Yeah, then I dropped it again. Then she dropped it again, so now we're taking a break from motorcycling for safety reasons. Now I'm not allowed anymore. Pretty much. How is this bike? Fine. It's fine. Oh, but you need it. Now I would use it. It's all cosmetic damage. What's the minimum monthly payment on this? Because it's not on here. Or$192. $192. Yep. The dyslexia got me. I know you got me too with it I was like we just looked at this Yeah just It's gonna say listexion But like really really important letters Like I forget what words You can mix around that you know Like truck that make a bad word You can do like that See that's funny you would wear that shirt We're doing market research You would wear that shirt right If it was like a dyslexia shirt that accidentally said You know Yeah I think that'd be kind of funny it's like oh sorry i'm dyslexic maybe you're looking through some like glasses or something yeah see brainstorming we make these businesses happen your brain's dying that's that makes sense uh what's how much is left on this because it doesn't say this is like your original financing approval oh really i don't know the uh we're down to well that's kind of interesting because i thought it was higher i think we're down to seven we're down to seven i think that's a recent copy because the original finance was finance was seven thousand three hundred ninety yes your finance charge over the course of the payment periods because of the 22.92 interest would be an additional five thousand oh i thought i could have sworn the the finance cost was 10 i thought it was 10 i thought it was started at 10 we're down to seven we've only is there another debt in here well yeah i mean no no no i'm sure that some of the uh okay yeah because principal went to eight it started because you had an origination fee it started at eight maybe it went up after that because i don't know it started at eight yeah okay so it's at seven thousand okay wait this is your where it's mostly you and you tried to blame her out of the gate so yeah that's fair if we're looking at the numbers i mean yeah it was late card haven't had that on the show i think that was i think my second credit card ever five thousand six hundred forty seven dollars ninety nine cents with another 194 dollar minimum payment these are stacking these are crazy this is ridiculous no purchases but 137 dollars of interest yeah again it's close to the max of course because all your cards that you conveniently don't use are all basically at their max yeah but i don't i i don't give myself access to them anymore so i wouldn't and i don't part of me wants you guys to close them or something i just i don't know doesn't that that affects your credit it does but guys what happened last time you paid off all your debt you built it all the back we're just gonna be doing the endless cycle until we're like dead like i don't know i'm just i'm scared yeah i'm scared just based on your actions and lack of discipline and your ability to manage finances in any way whatsoever okay we're getting better sorry that my voice is harsh by the way i was sick at the beginning of this week i am not okay cool i was like wait a second no i was uh vomiting out of both holes oh and oh no it was did you eat some deli meat there's apparently something going around uh boar's head don't don't don't eat Boris had deli meat.

1:06:27Nope. Watched Deadpool. Went home. Died. But I feel good now. This is my voice. Did you see the new one? Probably because of the movie. The movie was amazing. No, we went and saw the first Deadpool in the movie. Hey, there probably was some triple feature somewhere. Right. Some people spent the entire day at the theater. We did get to see the new one on our wedding day. So that was fun. That was cool. Oh, that's cool. Went in our wedding dress and suit. Yeah. Another PayPal credit. And it's yours again. Yeah. yeah so you have two my gosh i think one's a card and one's like their their credit thing where you can put it on and pay over time kind of thing it's crazy because every time we record a post show for these it's an extra 20 minute conversation and attached to this usually driving into some more of the drama where this is more finances that's more drama but this is already such a long episode and then we're gonna have an extra 20 minutes talking today yeah i have a lot of little cards not little buddy we've only been over two that are little and the fact that you haven't paid them off as a joke honestly like i'd be embarrassed 226.24 with a 30 minimum payment okay no new charges good good good good good good good good 29 interest rate nothing good interest rate in here no well no well the car car the car is all right i don't know if it's good but it's not a bad interest rate upstart so what are we doing here that's right uh that one is kind of what got me started on or or yeah what kind of got me started on the buying used cars and trying to sell them that was like my initial purchase of a car and then i've just been flipping them and getting the next one but not paying off the initial the initial uh startup cost i suppose so i've just been paying minimums on that since what's the interest or fees baked in um i know there's an origination fee um when i initially took it out oh it's a 20 it's not good it's not guys it's not are you capable of taking out just like loans that are not 20 besides that one car this is insane 20 or higher you're addicted to it you're addicted to it ejecting 20 into your veins i feel i feel like i've i those i don't remember exactly when that one was that was must have been you owe 4264 and it's a 207 minimum payment yeah it was originally eight i imagine so i've gotten good about not opening the new credit but now i just i don't think that's gonna i mean that's a step again the things that you guys are proud about are literally the basic minimums yeah yeah which i mean yes woo congratulations but surviving every time you pay off that you build it back up and you you you are not sacrificing to get out of debt in any way you're choosing these vacations and both we haven't even gotten into your spending yet oh dear yeah i mean oh there's that sally may yeah she's nasty yeah it ranges from 14 to 17.5 this is real yeah really bad student loans honestly i didn't even realize that they were variable like that i thought it was the rate that they showed me at the beginning 38 000 19 46 cents yeah minimum payment oh my gosh these stacks so much this is gonna be the same part of your budget well those 179 dollars 28 cents those i'm uh called them and i had to get back to them because i didn't have all the information but i'm supposed to be able to get on like a graduated plan or something like that where it's smaller payments up front and then they ramp up toward the end which i know is a terrible idea that's a horrible idea i mean like you're almost ballooning it in a way yeah i mean you're just putting you know you're like if you don't fix your situation by then you're so right right there's so much risk involved in that it can help you right now but it could be yeah it could you just in the time that it takes me to get like hopefully a software engineering position which is gonna somewhere come close to like 40 like 40 or up or higher my income yeah and i'm rooting for it man i hope that job market uh starts recovering a little bit more um yeah it's only the data we got in the um in the job market they just they just want a lot of experience right now is the problem there's a lot of really good engineers looking for jobs you're gonna have to go out there you're gonna have to uh that you can that you do i'm blanking on the word oh never mind but yeah i mean i i've i've worked with a couple of like or talked to a couple of friends that are running cohorts out in like new york and san diego that can help me essentially work for free but get my names on some of these projects and some things that'll make me stand out against like a really tough market because everyone with entry-level projects doesn't look really good against everyone else with real world experience and i'm always happy to also it's not in software engineering but i'm all if there's ever a desire from any of you or some of you guys know i'm able to get the one uh course career certification which are always good and they're even coming out with sums for the trades for like plumbing and stuff like that which is really cool so i'm always throwing that available want to give you every resource possible we appreciate it now this now i always say no those are the student loans that our gracious leader took for me so i don't owe those you're sure are they what's the because i think they're yeah what's the balance i think they're mine 60 000 yeah no those are just kidding those are we actually don't have yours so what confused me at the beginning there's i thought maybe these were yours yeah and we wouldn't have to look at them anymore yeah you have an additional sixty thousand dollars to student loan debt yeah how many years were in school uh i switched majors twice and i was yeah i was i was going to school from yeah i did it so did i probably the worst i i might have talked to you i think i did it the worst way that you possibly could have done um i went to a private school to be a teacher which is a vocation that well it's cool that people do it doesn't pay very well um well yeah for the private school tuition yeah so that was then i did two semesters of that or no three semesters of that and it was like 40 grand um just just for those three semesters and then went back to asu for business dropped out because i hated business started working at the apple store the apple retail store actually and found my love for like technology and coding and that's why i went back to school for all right but i was starting at zero basically after having accrued all that debt.

1:13:11Okie dokes. Yeah. Well,$60 ,000,$60 ,032.28,$92.15 minimum payment. Are you on like an income-based thing? Yeah, with that one, I'm on it. I'm curious to see how they reassess. All these are basically 5 % or less. I would minimum payment until these are paid off. The Nelnet ones? Yeah. Okay, but not Sally. Well, I might get on a traditional payment method because you're not going into public service or anything. in the income base, essentially what you're just going to be doing there. Though there would be a chance of forgiveness in the future necessarily. A lot of that's going to depend on administration, administration, courts, things like that.

1:13:49Everything student loans are so in flux that you lowering your minimum payment, which now, okay, it might make sense because your other ones are absolutely insane. What you're doing is allowing an interest accrue even more and more and more and more. I want you to be on a 10-year, once it makes sense, once we're out of the other debt, a 10-year payment plan, the traditional payment plan so you can just get out of it, but not in like a too fast way, but not in a too slow way either. Gotcha. Why would you not want to go as fast? Because you guys, taking on your 401k, if this is a 5%, S &P 500 average 8%, United States stock market 8%, S &P 10%, you know, I want to start catching up on our investing.

1:14:28Right. And this would take 10 years to pay off and it would be done. It's not dramatically hurting you at that point. $60 ,000 is a lot for your income situation. Yeah. Now, hopefully, if we can land you six figures in the future, and I think you can work up to that, you might have to take a lower level position than you'd want, a lower level just to start gaining some resume experience. Yeah, and I'm looking at that with my current company because I'm trying to stay with them, but they do have an internship program, which would be unorthodox. Might be what you have to do, though. Start getting in there.

1:14:56It's just a unique situation of the current market. Yeah,$60 ,000. I mean, it is hard to let$60 ,000 sit. If it was$40 ,000, I'd be more comfortable. That's just gonna compound It is but on the traditional 10 year plan It's just like again I would rather invest We'll talk about it That's the choice you end up making Why do you owe$8 ,000 to your parents I didn't even see this originally I think they just snuck this in before I came in To my brother To your brother you owe$8 ,000? I'm gonna tell you why 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 Now 12 insanely dumped What is happening? So this one here is because we needed to get into a place.

1:15:45Needed the money because... Maybe don't get stupid car projects instead. Sorry, go ahead. That's fine. Needed the money to get into it because we didn't have enough for the down payment. We got the money borrowed to us about a month into us living there. You mean like security deposit first month? Yeah. but this was after we had already put down a first and last months and a security deposit on another place okay we moved to said place and started getting harassed and tires slashed like it was yeah like a like a note glued to my windshield with epoxy i knew who it was it was a neighbor uh i don't want to get too into it but i confronted them and they didn't like and i would have gone to the police i did actually i did i did i filed a report and nothing happened i sent in all the documentation how often did you follow up i would have called the police yeah i called the court first of all they don't even let you i mean sorry phoenix pd but you guys need to get your together but they send you through a system you don't get to talk to anybody and when you call back you're just getting like an automated message telling you yep nothing new with your case and so i got tired of getting harassed by these people what about like i so it's not that i would want you to because i don't want you to abuse it but like it's like you know a live situation if they're alive then it's like 9-1-1 someone is at my car with a knife yeah so we did but that feels wrong lady did come up to my window and was banging on it and threatening me and that's when he went oh i should give context yeah yeah i mean she she was trying to pull into the driveway she had a modified car so i'm not the only one with the car love she had a modified car with a pretty loud exhaust and as she was trying to back into this very narrow uh uh driveway the lady came up to her window and started banging on it and yelling at her i overheard this from inside ran out and saw her walking back to her house and i immediately confronted them i was like this is absurd you're not you're not gonna walk up to her window and do that like why was she harassing you guys you want do you want to know the real reason yeah our vehicles are too loud no it was it was worse that would annoy me too but it was way worse we parked in their spot oh yeah we were not given any information on where we were allowed we were told i told them explicitly i have three cars i have one that can fit in that garage can i park my vehicles here the the person who rented us the place was like absolutely it took us a while to get our wait was this like a house it was a townhome type situation where they lived they were no the not the same landlord no it was the same landlord we're in the same like complex as each other landlord doing anything so apparently this couple has been causing so many issues in that neighborhood that the landlord caters to them quite literally is what we were told the spot that they were claiming was theirs is not an assigned parking spot it is a free-for-all parking spot but they made it for they made it for them and they told nobody else and when presumably because they do things to the people when they park there like absolute savages i was like like are we in real times like people do this to each other why the landlord not let you get out of your security so she did it just took a while we then you would have put it back to your brother why is the balance to your brother eight thousand because we then needed it to get into another place no i get it but you would have you said you got your security deposit back in your first month's right yeah right there was a point gone back to the brother so why the is the balance to the brother eight thousand dollars there was a point where we were trying to give him i think six or something like that and he said he wanted it all he said he said he said are you completely out of yeah he said that and he's like do you guys still have credit cards and stuff and he's like okay yeah he's like he was yeah he was yeah so no minimum to him no no he said he didn't want us to do the minimum he said when you got it send it to me so it's gonna be a long time till you guys got it yeah yeah i mean ideally i that's one of the ones i want to get This one that you're going to look at right now is a combined.

1:19:47It's our first attempt. Harbor Freight,$232. Fry's food,$3 ,970? That is a money order. That was a money order. We were putting down for the wedding venue and we ended up not doing it. But we got it back. We got it back. You should see a nice little deposit. You'll be happy to know that the reason we're married right now is because we decided to elope because $14 ,000 to pay for a wedding. Yeah, was not ideal. Going inside, getting some bullsh** probably and PayPal transfer$1 ,600. That's how we pay rent. That's rent. Okay. ATM withdraw $103. Who knows what that went? ATM withdraw $363. Who knows what that went?

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1:21:08$363. Those we looked at that we looked at the other day and we finally figured out what it was um because it's not no that's such a substantial amount of money i lost ten dollars i would at least yeah it was i can't remember i think i want to say it was for a car oh it was it was for a bike repair and the guy cut me a deal and wanted cash as a result stupid vehicles. Yeah. Yeah. I think you need to make a vehicle mental health disorder for this guy's shirt. Do they make those? She does. Oh, right, right. The shirt, the shirt. Sorry, I meant the disorder. I was like... She'll just put a big choo-choo train on a shirt for you.

1:21:56Like me with like a binky on the choo-choo train. No, we do them in the thumbnails. Perfect. There's actually a famous photo of me when I was younger. I fell asleep on one of those toy trains that I got for Christmas. My parents found me the next morning. Still rolling around. Oh, that's cute. I was an adorable kid. Yeah. Yeah. What's not adorable is ending this checking account statement, which is yours, with negative$39. It's not very adorbs. Less than adorbs. Yeah, that one. So the way we had it structured with the bank account is we were going to put all of our bills into that Navy Federal Bank account and have all of them auto debit out of there.

1:22:38And then the savings would be an actual like together savings. And how's that going? Because we're negative in a checking account. Because I still have my credit cards. I still have my credit cards pull from their minimum monthly. Okay. All of your savings, does that justify it being negative? No. I need to rework like how we do that. He needs to stop making crazy purchases. Okay so we went in and got some BS Spa BS? Yeah BS bulls**t From the bowl Team Arizona$179 That's the Motorcycle So that was actually a class for her And when she first Took her spill on her You're supposed to be teaching classes soon So you'd be able to do that What are you doing?

1:23:24To be fair we went to that and that's when I got the job opportunity you got some BS some Apple purchase another Apple purchase in phone went in got some BS cycle gear oh my f***

1:23:40potential groceries or BS hard to tell Apple ATM withdraws lots of ATM withdraws BlackRock coffee again we're doing this while we have negative checking account great that's wonderful thrilling Amazon went in got some bulls*** you stop at stores all the time and get$3 purchases $3 purchases$3 purchases oh you don't even know you're stopping at fries and you're getting a$3 purchase you're stopping at Whole Foods getting a$3 purchase and you don't even know and you do it almost every day what a joke that's stupid yes I can't even remember the last time I was at Whole Foods to be honest on the 6th a month ago 365 market is that your job oh sorry that's the little market that we have three six uh i i know i know exactly because i i read it on there and i think the same thing that's like our little vending machine at work that's that i do do often i well stop so basically the same thing and amazon winning got some bulls circle k when uh uh you did it again four dollars circle k you don't even know what you get ever that's great and apple bill in-app purchases amazon amazon smoke land uh we do partake in the marriage you want to partake in paying off debt That's...

1:24:53Apparently not. Yeah. Yeah, apparently not. No, instead you're participating in, you're partaking in a negative checking account. Yeah. Yeah, that's worth it. Great. There's a vending machine. Some, probably another vending machine. Amazon. ATM would draw$201. Those are, those are, that's my crippling addiction of Facebook Marketplace. I see a deal under$200 and I just... Stop, buddy. You made your minimums on your debts. That's it. Yeah. Facebook marketplace, put the$200 towards it. I should really delete. It's a joke. It's a joke. I've tried to get him to stop buying things on Facebook marketplace, but I'm a good convincer.

1:25:32I end up convincing her that I need said thing more often than not. I'm just, and honestly, I have no effort to convince you at this point, this far into the conversation. This is stupid. This is objectively stupid. It is. You have so much debt. You have so many goals. You're not getting into them. You're now in a marriage situation. Both of your futures are tied together. financially speaking as well and you're putting facebook marketplace over each other that's an immature child behavior stop doing it that's dumb as zellan out 250 dollars probably another facebook marketplace zellan out 220 dollars probably another facebook marketplace also stupid immature behavior apple bill wonderful zellan out 40 great okay 401k uh 9000 hours who's this and does it still exist uh these were all these were all current and we both have empower accounts so That's good.

1:26:16$9 ,000 there. Someone needs to work for U-Haul. $24 ,000 there. That's good. Happy to see that. Retirement, you guys. Actually. My retirement count is very fluffy. So you're the good one with retirement. Okay. $17 ,000 infidelity. Who's this? Me. Okay. So you're the one that's been on track of this. You're the one that f***ers. This one's also you. $1 ,800 good. One of them should be me. I thought I. Well, yeah. This is a small bounce. and then you withdrew one as well. Right. And then$11 ,000. Again, this one's you. Wonderful. Those are probably mine. You trade$98. Nothing. Fidelity,$9 ,000.

1:27:01401k. And this is you. Okay, there you go. So, Fidelity, also you,$2 ,000. Individual brokerage, maybe? Yes. No, IRA. Rollover. Yeah, rollover from a 401k. Okay. Well, that's actually the one that was working. Okay, it's not as bad as I feared. Did you mention something of a 401k loan, though? Yes. We did, yeah. That's what we were talking about. Oh, so you didn't take it? No, we didn't take it. Sorry, we didn't withdraw. And when you were talking about the penalties, I was pretty sure that when I did the research that doing a loan, I was essentially just paying myself back with interest. Yeah, we didn't take it out.

1:27:39Sorry, we probably misled you on that. I wasn't willing to check you on that. But it's paying it back to his 401k. Yeah. Honestly, I didn't even realize that you could take money out of your 401k. That's probably a good thing. I'm scared that I told you now. No, no, no, no. It's never been a thing that I thought was a good idea. But when I was told that you could take a loan out against it. Guys, your minimum fee payments are$2 ,834.35. Yeah. Wait. Okay, now what do you owe on the 401k? Because now I got to include that. Oh, right. That minimum monthly is... No, what's your OO balance? I don't know.

1:28:22You would have to verify it. I'd have to look it up. That, I don't know. We're an hour and a half into this. How do you not know this? What's your minimum payment? The minimum is$169. And I assume that gets taken out before your pay hits. Yep. Okay, so we don't have to include that in this minimum. Right. Right now, if you guys use my Moo Moo link in the description below, You can literally get 8 % on your money that's sitting in there for three months. It's absolutely incredible. Plus, you'll get 15 free stocks just for signing up with my link. This is literally free money, so make sure you're taking advantage of it now.

1:28:57There is no reason not to. Sign up now. Link in the description below. Oh, me. Guys, absolute insanity. Yeah, we have a unhealthy relationship with that yeah and like the only thing that's honestly gonna fix it is literally simply discipline and communication well okay those things are not simple themselves the idea of what you guys have to do is a simple concept but going into it that's where it becomes a little more difficult you guys need to sit down on a monthly basis look over your last month last month spending and how it is associated with the budget you guys created going through the budgeting program um and fix it every month to see what you need to cut back on what you need to adjust in your overall budget and then what are your goals what does it take to get there what do we need to get there and what sacrifices do we need to take as well and then just discipline to make sure you're holding each other accountable no more facebook marketplace no more whatever the you do bobbleheads or whatever there's no more it's holding each other accountable not getting angry at each other but holding each other accountable and getting to the goal together and wanting to achieve it together.

1:30:14Dang.

1:30:19I really thought we were going to be better in Spain. $187 ,000,$354 ,000 is a bad debt. Nothing's an asset. Well, the cars kind of, but barely. They're not as liquid as I thought. No. They're very solid.

1:30:35income is this right only five thousand four hundred forty three dollars yeah yeah yeah five thousand four hundred forty three yeah okay great so half that's already going to minimum repayments right on our bad debt nothing that's going up in value oh okay yeah because i feel like we have curbed some of the spending but at this point we're just in such a spending was Honestly, compared to a lot of people, sure, it wasn't ridiculous. But for your situation where more than half of your income is going to your minimum monthly payments, your spending was atrocious. Right. Considering that it should be net zero.

1:31:14What's your rent? $1 ,600. Utilities? Utilities are... Are you counting internet? Sure. Okay, cool. That's$250. Okay. Gas for both of you together She works from home You still probably fill up a little though I have a long commute Gas across the board Is going to be 100 Almost on the dot For both of you together I don't drive at all Car insurances and everything 160 That one's 167 Just one Yeah that's for both of us on two cars And the cycle Oh, the cycle is through Progressive, and that one is$45 because we only have liability. Okay, so a total of$212. Yeah. Okay. Guys. TPFun, anything else you guys need is$550.

1:32:16You can do$550 meal prepping. Don't go out to eat. We do meal prep, and we spend more than that. Yeah, you're doing it wrong. Stop. up we have we have so what we have a uh uh in the budgeting program we have a meal prepping thing that follows you know okay 250 budget actually for a single person okay which we round up to 300 by upgrading some things we get our we get our meal planning from our trainer that we pay 200 a month for that was one of those zilling yeah yeah which you guys do not do anymore okay i want you to do it i really it's honestly i put gyms and stuff in like i i'm pro that it's probably the only reason we're here taking care of this right now is that we started to take care of the health and that's good but 65 of your we'll see if we can put it in okay i'm gonna do 550 now for groceries and we'll see if we can put that in let's at least put in 40 for jim how much is jim jim is 40 for me 10 for her 50 for jim okay 50 for jim any co-pays and like that on a monthly basis medical um we don't pay not for your medication it's all free right pets my medication is free i do pay for my appointments oh right which is how often um every two to three weeks how much with the therapist 22 each so like 44 bucks a month okay for a therapist perfect phone bills phone bill is 180 yeah do we go on our phones we do we did yeah did or do we do now we we had them paid off and then we got phones through verizon and through best buy and i would do something cheaper like helium 20 bucks a month per line just makes sense when you're out of debt but or when you're trying to get out of debt but whatever okay anything else i need to put in here that's not included um no pets no pets we have a pet yes oh yeah sorry we have a pet we just don't do you pay for insurance for no no we don't pay for insurance what's your pet a lizard a blue tongue skink okay how much a month to keep it alive um she eats once a week so for time it's it's like 10 15 yeah we buy her food every other month if that okay plus 20 for pet plus 20 for okay it's a thing they eat whatever you know what else is a thing guys i mean you're under by 500 yeah so 5997.35 so no we can't afford a 200 trader no we can't afford a more expensive diet and our diet was a healthy following just standard caloric needs diet without junk food and stuff that we put in the thing we'll give you we'll give you so it's not how i want to start a marriage no starting from the rock bottom making it oh you're below the rock below the rock like patrick but no it's all right we're just in a position where it's like this is such a climb that I've been on the payment so high that this is one of those situations where bankruptcy might be easier.

1:35:17Really? And I hate that because it's going to be really stressful to go through. It's also expensive to go through. You have to come up with some cash, legal fees and lawyers, all the good stuff. And you're going to be fighting for certain things. And you can figure out your car situation. You know, you don't have to include that in it. Your student loans won't go anywhere. But it would improve the situation. because right now really the only thing you can do this is cutting back to zero you're already under 500 the only thing you can do is literally you have to go bring in an extra 1 500 a month together easy easy i mean too easy why aren't you doing it and you're right because we did it and it was hard and that's why we're not doing anymore but there was a point where we were both working multiple gigs.

1:36:04Okay, if you do that... I don't know if you know, but we have a roommate that pays$600 a month. Oh, I didn't know that. You did not know that. So you guys are positive$100. Okay, well, that helps. We'll see. He's lived with us for a bit, and this would be the first time that that's happened. So he's never paid rent. he has been paying a little bit here and there i just don't like counting on it i suppose is the way i i put it we we just did our agreement where he's going to be paying 600 a month and he said he can do it comfortably so that's i'm not suggesting bankruptcy and i'm not going to um i'll be honest i didn't know that that's how the conversation was going to be ending 187 354 dollars of bad debt if your roommate doesn't pay that you're under 500 dollars here you both make I mean you guys make over six figures together yes you can go work and you can start paying this off but if we bring in an extra$1500 a month and he doesn't pay rent this takes 187 months to pay off oh jeez bring in an extra$1500 after taxes or 15 years so that's where I'm just like that's a long time there's a certain point where it makes sense I'm not saying it makes sense.

1:37:29I'm not saying it makes sense. How do I pay bankruptcy for credit for like a decade? Right. Decades quicker than 15 years. Now, when you put in, and the thing is, is if you could, if I, if we were in that really strong tech market right now and you could just go land$150 ,000 job right now, it'd be like, oh yeah, grind this out. You can do it. But I think you're going to be working your way up through lower paid jobs, through internships, getting that experience. I think it's going to be a while until you're going to be making your income for a while. And then it's going to be a while before you make like.

1:38:02My hope was that if we could get like a bare minimum zero plan to keep the going until I can land one of those jobs. You can do that if he pays his rent. If he pays his rent and you guys literally don't spend a single cent on anything outside of the budget I gave you. Which is very difficult. Yeah. Very difficult to maintain that. Especially because I thought my spending was so much better than it apparently. People have called my budget. A caveman budget? No. I forgot the term. But it is hard. Prison budget? Yes, it basically is. It really is. And it's not meant to be sustainable. It's not. It's get yourself out of this in a temporary situation.

1:38:43But your temporary situation, cutting back to zero and bringing an extra$1 ,500 a month after taxes, your shortest situation is 15 years. Yeah. Yeah, it's obviously too long. But I mean, I'm still, I still don't think bankruptcy makes sense because I have the upside. And again, I don't necessarily, I don't want you to go through bankruptcy. I'm just trying to think. This is like, there's a percentage in my mind if I was right over there where I might do it. A percentage. Right. Not a majority percentage. Not even a quarter percentage. But there is a possibility where talking, talking to someone in the bankruptcy space.

1:39:22might be ideal well not maybe not ideal but worth the conversation okay gosh i feel like i feel like anybody i try to talk to that works with bankruptcies is just going to try to convince me to yeah so i mean the way i would go about it is just gather the information you can from them take an account that they're they might be selling you and just weigh that versus the work that you're going to put in you can work to pay this off 10 years bankruptcy or this you guys aren't getting a house for 20 years that sucks it does but 50 getting a house no not even 50 you guys could maybe do it by 45 45 getting a house that's not bad that's not bad at all yeah I mean you guys have dug yourself in your home I'm glad you at least have some retirement that's going to be sitting there you guys are only contributing to your matches right yes yep we fixed that so that we weren't over contributing to anything that was free money yeah um we did bring our contributions down because we did know that we couldn't be putting 10 percent into it i think we might have brought hers all the way down because i don't think her company even matches three percent or it's at three percent okay but i don't think your company matches because they suck will not be named but it's more so the education space that she needs to get out of because it's i want a second opinion on this this is all very live we do that we do that because this is one it is a show right it is a show but two i also want that is for you guys to get finance help so we like to combine those two here i want to get a second opinion are you guys willing to sit down for an hour with our financial coach yeah yeah absolutely okay so let me get you guys to get with our financial coach reed as you guys can sit down with him as well go to calebhamer.com um he's great yeah he's a cpa he's focused more on taxes but he's very well studied on pretty much everything finances he's getting a cp uh he's as uh he's gonna be uh cfa and all that stuff but yeah because i want a second opinion on this because again i don't want you to go through bankruptcy that's really stressful it's really expensive i know people that have done that and have been in a better place because of it really oh yeah yeah yeah actually uh i mean is it this is it worse than this or about this bad it it really depends it's going to be very situational it's going to depend on the strain of the relationship if you guys are okay with your credit being in the tank for like 10 years i mean i'm sure your credit's not good so we actually had a former guest on the show who unfortunately their episode was never uploaded because their episode was actually lost there was an episode where when we recorded at my house where there were two episodes that day we lost both episodes and uh she's a guest but you know been in contact via email and everything like that and she chose to go through bankruptcy i didn't tell her to i didn't even suggest to but she chose to and it actually ended up working very well for her and she's in a better place for now she could have worked to get out of she had an easier path to get out of her view she she honestly went the lazier route for it but it has worked for her gotcha i mean i don't know you guys are in almost 200 ,000 hours of really bad debt and with the way you guys are living life and the fact that you build all your debts up again I wouldn't trust you guys yourself with access to credit and stuff would it be, would it make sense to consolidate the debt and pay?

1:42:45not for you because you guys built them all the way back up again because we tried that it wouldn't yes yes if you guys are disciplined you're not if you can prove your discipline for a while maybe and then maybe close the other account so you can't have access to them right you need to have access to consolidation you guys have so much debt now this is at some point the only debt you guys will ever be approved for it's going to be the worst of the worst i don't know if you're there yeah but i wouldn't be surprised if you're getting there yeah it's it's pretty bad all right household hammer financial score spending in a budget i mean you're over so well actually let me see terms of income went in versus spending i'll tell you guys how much you guys think you spent we already knew that income was 5 ,443 yeah how much was spent i think i think we're at 5 ,400 taking into account the money order that was returned it was about 7 ,000 so you were overspending your budget is your 10 debt i mean you're lucky you don't It's a one out of ten.

1:43:53It's basically as low as you can get without having IRS debt or collections. Emergency fund, nothing in savings, zero out of ten. Retirement, though, this will be the one thing that is going for you guys. And for your ages, I'm actually quite happy. Combined, between a six or a seven, I'll be nice and give a seven. Thank you. Because you guys are the least pleasant people. Real estate, zero out of ten. Hammer financial score, rounded up, two out of ten. And make sure to check out all the links in the description below. They are the resources that I use or would use in specific situations, including the best budgeting and investing programs in the history of the internet, which are now bundled together at a lower price.

1:44:32Now make sure to join the membership here and join us for the post show. Today on the financial audit post show. I'll give you guys a gift in the post show. For people that purchase our new dirty money over a hundred dollars, they get this included. It's a framed picture in my head. My God, I love it. Oh wow, wow. The dump truck, the hammer truck. I was going to say hammer bottom. Have you ever watched a lady pull razors out of her with a string? What about have a clear liquid go in and a not clear liquid come out? To watch the Financial Audit post show, click the join button below.