Gen-Z Girl Going Into Debt To Bang Boomers | Financial Audit
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to watch episodes of financial audit a week earlier check us out on youtube my now boyfriend lives with me okay why why isn't he contributing to rent if he's living there he had burnt himself out take a little bit time take a break 42 it is a little weird that a 40 year old's not working i kept hoping that he was gonna get his stuff together but is that not red flags to you the fact that he's not willing to do anything no

Hi, I'm Leah. I'm 25. I live in Dallas, Texas, and this is Financial Audit.

Thanks for coming down to Austin. What do you do up in Dallas for a living? I am a lead funeral director at a modest-sized funeral home owned by a larger corporation. You're touching the bodies? What is a lead funeral? A little bit of both. We have kind of a unique situation where we don't do all of the scientific mortuary part of things, but I do get all of our folks dressed. I do hair and makeup. Folks dressed. The...

The no longer existing folks. Yes. Oh, yes. So get folks dressed, do hair and makeup, get them in their caskets and ready to go. Gotta be nice and cute for your funeral. Yes. Wow. Okay. How much do you make in this? Right now I make something like $21.60. I don't know. It was $21 and then I... Wait, what? You're hourly? Is that what you said? Or $2100? Oh. $21 and I think it's 60 something cents was my raise this year.

You started at 21 and then you got up 60 cents for being a director. Okay. How many hours a week do you work? Minimum 40. Minimum 40. And is there overtime? Technically. Not supposed to get overtime because corporate doesn't like overtime. Oh, it's a big corporate. Okay. So it's not like a small operation. Yeah. Okay.

If I ever have a little death in my young age, can you make sure I look absolutely gorgeous in my casket? Absolutely. Yeah, we'll stream it on YouTube for everyone. So you got to make me look pretty. Sure. Thank you. Okay. Well, let me see here then. So I had income payroll $2,559. Does that sound about right? For monthly? Mm-hmm. Hitting within the most recent month? Yeah. Okay. Okay.

So with that, what did you spend? What was your number? $2,559 came in. What did you spend? No idea off the top of my head. It always stumps people, which is interesting because we've been asking it for a while. So what do you think you spent? Well, I know there was at least about, what, $14 on rent and utilities. Yeah.

So 14, your rent's 14. It's expensive for you. One, two, three, four. Most of the time, 1,234 was like the average. I want to say it's pretty expensive for your income. Yeah. Wow. Working overtime. Well, why do you live in such an expensive place? That's 48% of your net. So I was really rushed on finding somewhere and by who?

- Yourself? - Situation. - What? - Because I was living in a house, renting a house with my ex-husband and our lease was up in December. - 25? Wow. Okay.

And I needed somewhere to go. Was this last year? Yeah, very end of last year. What was so rushing about it? Was it getting sketched? Or like what was happening? The lease was up and I couldn't afford to pay for the house alone. Well, the lease was going to be up regardless. When did you guys know you were ending things? November. Wait, that doesn't make sense. You said it ended in September. December. Oh, December. So you had a month about? Okay. People find apartments in a month. Fair enough.

If you look crazy, I'm sure life was crazy through the divorce and everything, but I've found many rents for myself within a month's time, a few weeks' time. I thought you were talking like a week because that would be rushed. It was. The application process is usually pretty damn quick. It was, but at the same time, it was the first time I've lived on my own on my own and making sure that

single young woman in Dallas. There's a lot of Dallas that you don't want to live in and be sure young woman. You know, the areas for the most part. Well, there you go. Then, you know, to avoid them. So but at the same time, Dallas is expensive. I don't know what the average rent is, but in general, Dallas is expensive. And my many bedrooms in your place, one bed, one bath. Yes. Washer dryer hookups was my biggest thing.

I assume that comes in most in a, well, depending on where you're living. The hookups? Mm-hmm. In a place like Dallas, though, where it's this big urban sprawl? Nope. Because I know more density is less likely. No, they want, or a lot of the places don't have hookups. They want you to use their laundry facilities. Oh, in apartment facilities. Okay, well, okay. I was thinking more like having to leave and go to like a laundromat because that's a lot less rare today.

Well, yeah, the median rent in Dallas for one bed, one bath is $1,258. So you're certainly well above that. Even at the upper echelon of $1,400, you're even above that. So I think, I mean, you're probably pretty picky about what you're looking for. How long were you married? November of 21 through December of 23. Okay, that's pretty quick. What happened? A lot of me saying, well,

Okay, I'll be happy when I'll be happy when I'll be happy when. Okay, what was the when and what? First when was I'll be happy when I graduate mortuary school. I'll be happy when we get engaged. I'll be happy when we get married. Why were you not happy? Stressed. I couldn't. I was so very stressed. What were you stressed about? A lot of it was finances. A lot of it is general security. I grew up not like.

physical safety and security, but a lot of financial, a lot of long-term plan. Because I'm the kind of person that I need some kind of plan. I need some kind of direction. And I kept hoping that he was going to get his stuff together. And at the time that it was the perfect opportunity for him to get his stuff together, he had everything laid out in front of him. And

He was taking it, but leaving me behind. Okay. Was this a big dramatic ending? Dramatic as nobody else saw it coming, but it was not like a knockout draw out brawl. It was...

He had seen me pulling away and I just you still even with a month. I mean, you got an apartment that was more well more than the median in Dallas and obviously more than you can afford because those forty nine forty eight percent of your net income. Are you is it just you there now? Now I'm the only one who's supporting it financially.

What does that mean? Is there someone else there? My now boyfriend lives with me. Okay. Why isn't he contributing to rent if he's living there? So he moved down from Indiana. Okay. And when he moved down, it was with the intentions of he had burnt himself out and just take a little bit of time. What's his age? 42.

okay you know i don't give a listen there's there's a there's a natural shock that comes with it but it's honestly because of twitter they've they've made everything sound so extreme you're an adult i don't give a this is i i must be twitter brained like where i have to have a reaction to everything about everyone's adult choices whatever okay you live your life i don't give a but he moved down here he with

With the intention of he was going to take a little bit of a break before figuring out, you know, what he was going to do down here. It was a little weird that a 40-year-old's not working. But it was, we knew that was going to happen. We knew that was going to happen. Okay, how long has he been here? End of April. Okay, how long did we agree he would not be working? There was not necessarily like an agreement, but there is the factor that beginning of July, I ended up having to take him to the emergency room.

Because what we thought was like really bad flu, maybe pneumonia at the worst, turned out to be a mass in his chest. So emergency room was like, okay, cool. We can't do anything for you right now. Go see a doctor. We tried to get in to see a doctor. And then at the very end of July, he ended up in ICU for the, or excuse me. Does he have health insurance? No.

Why? Because his previous job didn't offer health insurance. It doesn't matter. If he got laid off or something, did he quit? He quit to move down here. He probably could have got on the health care exchange. It's like zero bucks a month. It's not something I have any knowledge about. It wasn't worth Googling? How do I get health insurance? I have none. Help me.

I die? I think I thought of it more as... Well, him. It says it's not your responsibility. That was kind of my thought process was it's not my responsibility. I let him handle... So how's he doing today? He's doing better. So he ended up in the hospital for the entirety of July, basically. And...

Currently, we're still waiting on results. So right now, he's in the process of applying for Social Security and Disability online. How did you meet him? Through what? Just a website. What? I'd prefer not to answer. Oh, come on. No. Fine, you don't have to, but they were curious. Is it like a sugar daddy, sugar baby site? Okay. Just because, you know, the gaps are big. Again, like, I don't give a f***. You live your life, but it's... It's an interesting thing that...

I wouldn't, it wouldn't draw as many red flags if you guys met and you just started dating and it went about there, but met online on a website, dude quit his job, moved down here, hasn't contributed in any way whatsoever, immediately has health concerns. It's just like. I know it sounds. Are you into old dead men? Cause you see them work every day. No, the joke has been made many a time. Oh, I'm sure. Uh, no, it,

It was all happenstance. Is that not red flags to you? The fact that he's not willing to do anything? What was his job? He was working at a restaurant. And he was burnt out from a restaurant? It's not like that. Food service is a pain in the ass. I get it. But it's less that mental strain still. It's more physical beat down. And... There is a lot of mental strain that comes with it, especially in certain positions. So don't get me wrong. I think a lot of it was...

That plus the struggle of everything. What was the struggle of everything? Lots of vague things being thrown around. He has had a lot of adversity that he's had to deal with. Again, lots of very vague things. But so when he moved to Indiana, he moved from Alaska. When he moved from Alaska, he didn't have a car. And that was...

fine for a while and then covid hit his license expired and first of all who moves to indiana if they're moving somewhere a friend had a place that he was that was willing to host him no i just like to indiana because i lived an hour from there that's okay his friends still live in indiana and we definitely still talk a lot of about indiana as you should um but

He was fine doing fine without a car, but just what he was making, what he was being offered hours at work and his expenses. But why can't he work down here even part time? This is right now. I'm just thinking about you. And when I see someone with red flags surrounding me,

Them potentially leeching. This is like. I'm not. We can't get there conclusively. But it does make me a bit nervous for you. And I don't want you to be in a position that's. And if it weren't for the fact that.

The only thing stopping him from looking for work right now is the medical stuff and the fact that he's currently in the application process for Social Security and disability. Because of the medical stuff? Because of the medical stuff. Is he able to move right now?

Kind of. Kind of. Okay. So he's very short of breath still. I mean, he's still healing from having three giant tubes coming out of his chest. No, sure, sure. That makes sense. I mean, but again, he came down here and didn't work. I'd get it if something medical like this happened and then he can't work. That's different. And it wasn't when he got down here. It wasn't that he couldn't work. We had the agreement that he was going to stay home for a while. No, I get that. I get that. Yeah. Yeah.

It's not like he came down and refused to work, but it's like he came down with the intention of not working. Okay. Okay. How long were you guys talking before he moved down? December. So I went up to visit him for the first time in... Red flags just keep popping up, dude. I'm sorry. Sorry. That's not to be insulting to you. Like legitimately, there are concerns...

Okay. I know. I've heard it all. Trust me. I'm sure. Because there was definitely a big to-do when I went up to visit him for the first time. And there was a lot of pushback from my family in regards to me driving up to Indiana to meet a stranger. He is confirmed single, right? Yes.

Okay. Well, we should obviously get into the finances a bit, but this is certainly obviously dramatically affecting it because medical, you take care of food, you take care of everything, you're taking care of rent, but even just the roof of the head is 48% of your net. So, wow. And going into that rent, the base rent, like when you look up what's the rent for this apartment is $1,050. Okay.

It's the utilities. It's the... You may have gone to top floor. Bottom floor? Middle. Which one's the most expensive? I forgot. Either top or bottom. Is it? Yeah. Because that was the other option that they gave me. So it's just like fees and bullshit. Because I've got like valet trash that... Yeah, yeah, yeah. And then like one of my dogs is on pet rent. The other dog doesn't have to do pet rent.

Okay. Well, self-assess, where do you think your finances are? Zero to 10? Zero being the absolute worst, 10 being the absolute best? I definitely don't think they're the worst because I could be saddled with student loans and things like that. It could be a lot worse. But I know, especially with the way I feel about my finances, that it's not great. Do you have a number by chance? Like a five?

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Date a large numbered individual so you have large numbered debts as well. The debts were there before he got here, unfortunately. Okay, well then, discover it. Let me say what the debt is and then I want to hear what the f*** is behind it. Discover it. Is this your first credit card? It's a lot of people's first credit card. Okay. Discover it at $8,353.29. Okay.

With a minimum monthly payment of $203, which is insane for your situation, to be clear. Insane for your situation. Why are you purchasing on it? Well, probably because half your money goes to f***ing rent. So you need to spend...

I don't know how you're living, actually, to be clear. Oh, and you give yourself a five. Great. $182 interest is accruing. You made the minimum monthly payment, but it doesn't matter. You went and purchased $510.02. So whatever progress we were making, if any, which we barely were with the interest and everything, because the interest is only $3 less than your payment. Medical City. That was... Medical City, Medical City, Medical City. Four Medical Cities, $4. Vending machines? Parking.

What are you doing? Oh, it was four days in a row while he was in the hospital? That's just on that card. I was there every day. Is this while he was in the hospital? Oh, okay. I am eternally frustrated with how much money I had to spend to go up there and see him. Not his fault, but just the fact that the medical system is charging...

$4 a night for families that are there visiting their loved ones. Yeah, I get that. And

Just a side note, they also charge their employees, I don't know if it's the same amount, but charge their employees to park to go to work. Oh, are we sure that the hospital, one, is it a public hospital? Two, is the parking lot owned by the city? Because again, it gets really complicated when it comes to city stuff because parking takes up so much space that can be utilized to other things that free parking everywhere would be essentially subsidized by the taxpayers and not utilizing it for rent.

profit-making motives because all the parking that's used in cities could be profit and tax generating things like restaurants and things. So charging money for parking, as much as we all hate it, it being free would essentially be subsidized parking being paid for on behalf of taxpayers instead of the individuals who are using car storage in public spaces, essentially. But at a hospital, I definitely get it.

uh i definitely get it luckily it's only four bucks four bucks for a night isn't horrendous but it is annoying i get it especially in a life or death situation that's where we obviously wouldn't want it it's a i would think more that it would be um uh waived uh validated i'm surprised it's not validated okay that sucks

that sucks microsoft store 18 bucks that would be for his xbox the xbox why is there enough credit card that we can't pay off that's only accruing interest because otherwise it would be going on the debit card which or otherwise don't get it what are you talking about we don't have to get it if we can't afford to live you can afford to live what do you mean what xbox the subscription is game pass yes game pass you can't afford to live buddy refused to work for months while he was down here sonic drive-in

DoorDash, Chubby, or DoorDash and whatever that is. The restaurant. No, I, yeah, I assume from DoorDash. Okay. Another Microsoft Xbox bill, $8.16. Oh, we don't even know, but it's going on our card and it's just continuing to go up. CVS Pharmacy, 206 bucks. What happened there? That one would be after he got out of the hospital, that would be his medications that he got put on post-hospital.

We need to get him on some kind of health insurance. Like now you can't be turned away for preexisting medical conditions at this point. So he should get on. You need to go to just the exchanges. And since he's not married or anything, then dude, I really think he could be on something where it's like zero bucks a month. It'll affect his tax base. But trying to get him on Medicare to help erase the.

ridiculous amount of medical bills that occurred from the month in the hospital. They've already... He was in for a whole month. Wow. Mm-hmm. Wow. And they've already... One of his ER visits, they've taken care of with their... I don't know what to call it, but their... I can't think of what it's called. Okay. That's okay. But I don't like the Sonic and the DoorDash and the Microsoft Store and then the other Xbox. So there's two Xbox things.

Because we're sitting at a 26.24% interest rate. So it's just like, well, it's even the point at that point, you know? You're not a credit card person.

You're not able to utilize credit cards. Anytime you have access to money, you just spend it. This is clear. You can't manage this. It's only going up. If you ever get a credit card, it needs to be a charge card like FizCard. Cards where it forces you to pay it back by the end of the month or you can only spend the balance that you put on it by putting money in. You cannot have access to these unlimited money cards. You can't. You're just not responsible enough for it. And that's okay. But if we recognize that you can protect yourself

Okay, this is a huge one. The interest rate is lower, but it's still a death 14.29%. Is this medical? No, this wouldn't be. This is entirely, this is my name only. What is it though? This, if I'm not mistaken, is the RV. Is it not? RV? What the f***?

What are you rooting for? I have an RV in name only. It is my mother's permanent residence. Oh, whoa. She takes care of the payment. Yeah, but what happens if she doesn't? It's on you. The only way she doesn't is if she kicks the bucket and her finances are mine. Which I don't root for, but obviously it's something that happens. No, and we've discussed that the moment that happens... And also, what if she loses all her money somehow? Then...

If something like that were to happen, then I've got a whole lot of other issues under my belt. Well, what? I'm her person. I'm her only person. Oh, okay. So... Your dad's not in the picture. Not when it comes to my mom. Yeah, sure. And you're the only kid? Her only kid? Yeah.

She shouldn't have to rely on you, though. She hasn't made the sacrifices throughout life necessary to be able to be independent. She definitely has. So, like I said, this isn't. You mean if things go to shit, she would have to rely on you? Yeah, this is only because she makes her payment. Does she have enough to retire? How old is she?

She just turned 66. Okay. What's her retirement situation? She is. 100% or no, no, no, not 100%. She's a disabled veteran. So she's currently living off of her disability, social security, VA disability. Okay. That's her income. Yeah. Okay.

All that added together could be pretty chunky, depending on is she 100% disabled? Very close, if not 100. I know she was fighting for 100. Why is she living in an RV? Choice. Okay.

No, last I checked when she was doing her rundown of all that she made, she was bringing in more a month than I am. Yeah. Yeah. I mean, you stack all those up. Absolutely. Okay. So what makes me nervous is I'm glad she's paying for it because it's disgusting. But if something happens, $70,000 on your plate at 14.29% interest, that's an insane number.

insane number for your financial situation especially can we do anything for her to borrow this money or refinance the loan and get you off so like why have the risk there the biggest the like what's her credit score do you know what's her debt situation do you know i think this is her biggest debt um as far as anything in her name i think she has a couple of credit cards that aren't

you know, massive. But I think the biggest reason for $133 a month. Oh my, that's insanity. That is slid every risk ever known to man. That's a crazy number. Sorry, I continue, but that's crazy. I mean, it's, that's her,

Rent, basically. On a depreciating asset, though, this is going down in value. I mean, it's better than an apartment. Depending. Apartments, they'll take care of broken things. And her insurance takes care of the broken things on the RV. Every little broken thing. Pretty much so far. So far. And guess what? Rent isn't usually at a 14% interest rate. True. Or kicked off to your daughter if something happens. Debatable.

Not. That depends if you're on the rent.

But right now, the biggest as far as I'm aware from what she told me, the biggest reason for having my name on there was because if anything happened to her, it would be non contestable that I am then able to take charge and do whatever I need to do with the RV. It's something where she got like very disabled, like super like she died. Oh, why the do you guys care about the RV? If she dies, just let it go. Well, that's the thing is with this kind of debt. Why would you want it?

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Well, no, I would let it go. But that way I have, because I have no intentions of if something were to happen to her, I have no intentions of keeping the RV. Well, but your version of letting it go, since it's under your name, it's going to be, you're going to be responsible for it. You're letting it go. It's having to get rid of it used. And it's likely under value underwater, meaning that you're still going to have to come up with an additional like 10, 20,000. I don't think I follow. Because you're co-signed. If something were to happen, she dies.

And it gets put on you. Essentially, since you're on it, you're forced to pay it or else it gets repoed and then you're owed the rest or it completely obliterates your credit because you just don't pay anything ever. And then the third option, the get rid of it option, this is likely worth less than the loan because she's putting miles on it, she's putting maintenance on it, and it's a depreciating asset. So you're likely going to have to come up with an extra $10,000 to $20,000 to pay off the loan after you sell it anyway.

So this isn't benefiting you in any way. It may have benefited her qualifying for the loan, but in terms of what you're talking about and being able to control the situation, like, I wouldn't want any part of it. Now, if you're in her will and there's, like, trust set up and there'd be a lot of different complications where, like, you...

Not necessarily responsible for it, but could have the ability to take charge of it if you wanted to. You know, there's a lot of different legal complications depending on how everything's set up. But you've put yourself in the worst situation possible. And I really don't get why you would want to. Want to. I think the initial factor was, because if I'm not mistaken, this was prior to her death.

VA disability claims getting worked out. Whoa, whoa, whoa. When did she serve? The 80s.

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Wow, so she didn't file until four decades later? She was working. She was doing fine. And then she got to the... You can still have some VA disability and work though, right? I have no idea. Maybe not the full. I'm not 100%. It wasn't something that she was willing to fight for because when she got out, she just... She got out under...

not so fun circumstances and because sure and she decided she was just gonna you know move on continue trying to live her life and lived her life for you know 40 50 years i got it that's fine and then um but either way why did you co-sign for this was it just that because she didn't have the income so she asked you to i would never ask my kid to co-sign for something

This is so risky for you. And why can't she just get an apartment? She had an apartment and they were, her rent was outrageous. Well, it's just like you. Find better rent. It exists. And it was always her dream to get an RV and to travel.

Was it her dream to put it on the shoulders of her kid? No. Okay. Then maybe we don't get to live our dream if we're doing that then. I don't think we sacrifice our only kid for the dream. But it's you in front of me, not her. Okay. So you don't pay this? No, I don't pay it. It's just on my credit. Okay. Wells Fargo. Man, I see another massive balance. So this was the first credit card. Oh, okay. Okay.

We have a balance of $5,964.63. The minimum monthly payment of... $50,000, I think? $75,000 maybe? $75,000.

149 oh dramatically different than what you thought especially in your financial situation you're too minimum well if that 801 hit i don't know you wouldn't be able to survive simply but even still that 203 which is why it's supposed to be under your name i can't believe you allowed that but whatever 200 or that she wanted that 203 dollars for your first card and then 149 dollars for the second card stacking that with your situation still is insane okay let's see what happened here

Oh, you made a huge payment, $700. Oh, it didn't matter. You purchased $1,759. For fuck's sake, what are we doing? What's the point? You made it worse. It's accruing $88.49 of interest on that last balance, and now the balance is $1,000 more. Oh, but good, guys. It's worth it. Thank goodness you have a rewards balance of $5.17.

doing? Why are we purchasing on two cards? Two cards that we've looked at, we've made worse. What is the point? My...

System because I don't system it. I don't know a better way. So what I don't, I don't better way than what? So what I do, I would the exception of rent because I don't want to get paid the extra fees for putting rent on a credit card. So when rent comes, when it's time for rent, it's whatever paycheck is right before rent. I go in, pay rent, make sure rent's taken care of because it's interesting the way you look at fees.

Because you're putting your other expenses on the cards, right? That's what I'm walking away from. You're not getting the upfront fees for them, but you're getting a f***ing... The interest fees. You're getting a 19.4% fee on here, which is way more than any kind of rent fee you would have gotten anyway. So the way you're looking at it, it's still incorrect. You don't want that upfront fee. Sorry, go ahead. So I pay rent, make sure rent's taken care of, make sure that there's money in...

my debit account for any type of subscriptions or auto pays that are set up on my debit account. And then I take a look at... What did you spend on that, Bucky's, on the way here? $25 in gas and... Oh, in gas, okay. Sorry. Less than $2 on my drink. Okay, can't afford it. I had to pee. You had to pee? Yes. So I had to go in. So go pee. Right now, I'm pretty sure...

The price of large fountain drink from gas station is equal to that of cans of soda that I could have brought from home as far as cost. Oh, you know what? That's interesting. It's interesting. Soda! Bottles of water for like $5, a massive pack can do that. Congratulations, 48%. Go sell rent. You're putting more money on your credit cards. And you're doing everything outside of your rent on credit cards as you were trying to explain.

I don't think we're getting fountain drinks. I don't think we're getting cans. I don't think we're getting any of that. I'm sorry. I want you to have what you want. Dream world. I would rather you have an emergency fund and ability to retire so you don't rely on your kid like your mom relies on you. I want you to have the dream life. I want you to be able to retire. I want you to have an amazing life, fully funded emergency fund, to take care of expenses if something medical happens again. I want you to have that life. We don't have that life without just getting everything we want at any time.

Go on. So I pay rent and then I look at what I have left and I see what can I put towards credit cards. And then I try to put as much as humanly possible on credit cards. But then unfortunately, that leaves a minimum in my debit account. And then I end up putting all my spending on the same credit cards. How much was that? Less than two dollars. How many liters are in that? Let me see.

Okay, it's definitely not two liters. It's probably a liter. You can get two liters at the grocery store at H-E-B for $1.52. The off-brand H-E-B version. There you go. I just saved you half your money every single time. Continue. Was there any more continuing? Maybe not. I don't think so. Okay, well, let's see what you did here because this is an insane amount of spending. Okay, there's 1,000 medical cities through here. We now know what they are. They're parking. Justified. I totally support that.

Um, obviously we both wish there was a way for that to be, um, I keep forgetting the term, but reimbursed or waived, but eBay, we're sending $22 and 35 cents. McDonald's eBay, another $23 and 75 cents there. Oh, sorry. No, $33, 12 cents. Taco Bueno, Netflix, McDonald's, Taco Bueno, craftsman, $127. What was that? Does he have access to your card? No. What are you getting at craftsman?

It's not like the boat craftsman. No. $127.74. First of all, that's the second most expensive thing on this card. Third most. How do you know what it is? Fourth most. $127. You basically need to budget every single penny in order to barely make it, and you don't know where $127 went in one charge? Okay. Amazon, you spent $28. Puff Paradise, what's that? Please tell me it's cream puffs. Not for me. For him? So the one that's dying with something right here is an inhalant sh**?

Probably not the best habit. No. In his current situation. It's not. And you purchase it for him? I... Okay. Man, it's hard. It's hard. McDonald's. Amazon. Amazon. Amazon. Dumb bats. Dumb bats. Stickers. Art stickers. Buddy...

We're like not surviving. You're putting $1,000 more on this than you paid. And we're getting stickers and McDonald's and eBay purchases and tacos. I will say. Will you? Food hurts my soul a little bit because. And I.

It hurts your calories too. Yes, it does. But that was all while he was in the hospital because I was commuting back and forth between work and home with dogs and hospital. And I was doing my best to eat from home. I get it. It's a hard situation. I know. So that's it. It hurts my heart to have to because I. So he was in for a month. And we're waiting on diagnosis for the lump.

The ball or whatever? So the mass, they took multiple biopsies. All the biopsies came out negative, but it caused a buildup of fluid around his heart. So they had to go in and put in... Was it like a cyst? No, it was... All of the doctors are convinced it's cancer, but there's no...

biopsy medical testing proof. Did he know he had this before he moved down? So it wasn't protruding. No. It was internal. We'll send him to the hospital. Because so he had this cough that we again at first we thought it was lingering pneumonia or

flu or something like that he had this cough and what finally sent him to the er where they finally admitted him was it he was coughing to the point where he was throwing up he had a hundred and something fever oh man he was weak couldn't yeah so that sucks i'm sorry that's horrible and i hope he's doing well and i hope everything comes back in a uh you know negative and it's gone and

They removed as much as they could. Okay. But it's attached to his abdominal aorta, which is the big part of the heart that pumps the blood down into the rest of the body. Okay, so mostly we're just hoping it's non-cancerous.

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Yeah, July 22nd. Okay, so about a month. Yeah, totally okay with him not working during that. Totally okay with him not working after that. Again, it's still weird that he came down to not work. I know you guys agreed on it. That's still weird. But obviously the situation has changed regardless. So that doesn't matter. Just want to make sure you're in a good position. But again, the situation's changed regardless. So it's a whole new world. And he's aware that...

When the opportunity comes for him to get a job, that that is expected. Apparently I brought it up more than I realized I brought it up. Really? Yeah. What's his recovery timeline? We don't know. Doctor didn't have a timeline? No. We didn't even get home with any kind of recovery instructions. How did you guys pay? They built everything.

Yeah. How much is owed right now? To him, not to you, though. I have no earthly idea. But it's not to you at all. No. Nothing would be owed to you. No, it's nothing to me. You guys aren't connected. No. Okay. And you just don't know? I have chosen not to add it up. This episode is brought to you by Maersk.

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Get it all at maersk.com slash insights. Because the number is going to hurt my heart. Well, large medical bills will go to collections. I have a tidbit about that later. Oh, fun. Can't wait. Care credit. Let's talk about that first. This is interesting because you paid it off, but you must have paid it off late because you had a late fee. I don't even know. This is wild because I would love to celebrate that you paid it off, but you didn't.

fee. Now you have a new balance of 30 bucks because you didn't pay it off in time. You did the right thing late. So I'm just now realizing that that's what that $30 is, is a late fee. How did you not know? I am anal retentive about paying my bills on time. Growing up, my

My parents worked really, really, really hard. And unfortunately, that wasn't always enough. And that led to a lot of accounts getting...

And so growing up, I would get home from school and the internet wouldn't be working. And I'd do all the little, you know, turn it off, turn it back on again, do whatever you can to get the internet to work. And it would end up in me texting my mom and being like, hey, did you pay the Wi-Fi bill? And she hadn't at the time had enough to cover it. So I'd go on and pay it so I could get online and do my homework. And that stayed with me. So I'm paranoid about making sure my bills are paid on time.

Okay. But, I mean, again, but you missed it. I have no idea. No, I know. Okay. I want to say... Also, you didn't answer how much you think you spent last month. Total? Yeah. This includes on debt. So I would say total spending...

Reminder, 2,559 came in. Probably 26. Okay. Yeah, 4,526. So whatever learning lesson you thought you had from your parents, I don't know if you learned it. You're spending almost double. You're putting yourself in that situation. You're self-fulfilling prophecy back right into where they were. I don't think I had any idea.

bad it was. You need to go through our budgeting program. Please go through our budgeting program. We give it to you for free. Go through the class. Go through the quiz. Use the meal plan. Go through that. Go through the investing class as well. Learn your investing profiles. Take advantage of the free $100 that comes with it. You guys can get them, by the way, right now. They're 15% off when bundled together. Check it out. But

Please go through that. I need you to be able to budget. The fact that you thought you may have spent a little over, but it was actually double almost, that terrifies me. Speaking of things we can give you, I can give you, if he wants like a course career certification to get back into the job market, I'm happy to give that to him. So just feel free to talk about that. But yeah, again, we were late on here. Oh, yeah.

Your score is 655. We don't know our mom's credit score because I really want you to get off of that loan. I'm fairly certain it's about the same from last time we chit-chatted. I want to say it's pretty close. Yeah, it would be complicated with something like an RV. I wonder what she'd be able to qualify for. Okay. Is that all you got?

You said there was something medical related. I just got in the mail a lovely little collections notice for medical debt for myself from my old doctor's office. I wanted to take a picture of it before I came. Like $200 and something. So it might be internal collections. May not have been sold off. Medical debt has to be some multi of hundreds to be on credit reports now.

I don't remember the exact number off the top of my head. I apologize. We can look it up afterwards. That makes me feel better, though, that it may not. It might be 200. I don't know. So you're 200. It's 240 maybe. Yeah.

Why did you not pay this? Because at the time I couldn't. We could get on a payment plan, though. Even something like 20 bucks a month you may have been able to do. Sure, that would stretch it out longer than we'd hope, but you could have done something. It seems like you both, you and him both, kind of have a mindset when it comes to him getting health insurance, getting a job. When it comes to you taking care of a dad like this, you see it and you think there's no immediate solution, so you give up.

We don't look and there's so much creativity out there in terms of what we can do. Sometimes all it takes is literally just asking, but it seems like we just don't do that, which is I need you to get out of whatever that mindset is. I need us to move beyond that and be willing to ask questions, ask help, be able to be willing to Google things for the rest of our life because...

I don't know, seven years into adulthood and we receive a bill and we're like, oh, we just can't pay it. And that's it. That's you're not going to end up somewhere good in the end if that is where our mind is. I can't disagree with you on that. Please don't. And I'm hoping that with the at least with the collection to notice that maybe there's still a possibility to pay it out.

Okay, so that's it then. That's all your debts? As far as I'm aware. Oh, boy. Well, I hope nothing shows up. No. $600 in the checking account, $680 up from the $470 that we started with. You can't afford to live and you're giving someone money on Patreon. In what world? We have a membership. They get everyone who subscribes because you get the post show and a bunch of other shows and a lot of other things. It's really cool. It's really fun. If you give, don't subscribe. You're even supporting.

It's an audio creator. Stop! Support your finances! Okay. Raising Cane's Amazon Music Waffle House Smoke and Vape also for him? Or do you participate in lung cancer as well? No. Okay. Amazon Kindle. Go to the library. Trust me, I pay a lot of property taxes for it. I do. I utilize the library as well. Wonderful. Cancel the Kindle. Domino's. Definitely can't be doing that. And Amazon Digital...

I don't know. I mean, your video ask quote that you sent in when you applied is, I try to stay and be incredibly frugal. In general, I'm not big on spending on things for myself. Every once in a while, I will get a wild hair and decide that, okay, I just need a little treat.

Little treats, sweet treats. Great. I deserve a little treat. Okay. I've been working my ass off. I'm going to get myself a little something. Listen, I actually, I vibe with that. I get that. I want you to, again, you get that after you have an emergency fund because you putting off any kind of financial independence, financial security that lands you in a worse position in the end anyway. So no, you're, you don't deserve a little sweet treat right now. First of all, you're not entitled to anything. Uh, second of all,

reward yourself with that, fitting it in a budget when you have an emergency fund and you don't have 30% interest debt. Like why hold that over your head? Why make it harder for you later on? It doesn't make sense. Deserve it. You don't deserve to suffer either, but you're bringing it upon yourself by not sacrificing at all. And also frugal. I very much don't think you know what the word frugal is. I think the month that we're looking at is a very good,

difficult one because of how much spending did go towards things that I usually don't spend on. Yeah, but the parking was so cheap. It was a lot. Not necessarily the parking, but the food. Okay, you could have packed sandwiches. And I did a lot. I'm giving you a little bit of leniency because of the hospital thing, and I do get that. But even still, it was a lot of eating out, and you spent double what you made. And you put $1,000 more on that one credit card and a few hundred bucks more on the other credit card. You're making your situation just worse. Yeah.

And hard times, they can lead to wanting to cope spend and have easier moments. But again, that hard time is literally just making you have more hard times. It's not worth it. It's really not. Especially since those times have passed now. He's not in the hospital anymore. You're not doing that. But now you're paying the repercussions for it. So you don't even get the joy of it anymore. You're not wrong. Well, of course not.

But I think it's short-sightedness. I mean, your spending categories go as followed. I mean, transportation was $623. $150 went to groceries. $191 went out to eat. Unknown spending, typically Amazon or Walmart, and Target, that was $1,253. That may have been CVS. One second, let me see. Yes, CVS was $206 of that. But even still, there's $1,000 left over.

That's Sam's. Walmart was $900. What the f*** for $900 are you getting from Walmart? That can't just be groceries. If so, that's insane. You need a budget and meal prep and what? $900 at Walmart? What? The only thing I can think of is groceries. Oh, you don't even know? Well, I'm trying to think if there was anything big thrown in there. $900 of groceries plus an additional $150 at grocery stores and $100 at Walmart? What?

Medical healthcare, 160. That makes sense. 181 went to savings. That's weird, but okay. 0.8% of your spending went to subscriptions. 292 went to miscellaneous bullshit. I know there's a dog food subscription in there somewhere. That's Patreon, Vaping, eBay, Craftsman, online art purchase, Microsoft Store, and Xbox. Yeah, you had a pet screening for 31 bucks as well. Okay, okay. So what is this? I'm sorry.

So $600 in your savings? Yes. Okay. Albert Corporation? That is a... Oh, it's a savings account? Yeah. AutoSave? Yes. So you're at $2,397. That's great. It makes me feel... So $2,600. Give me your take on this. You have about $2,600. Oh, okay. Because in some ways I feel silly having that savings when I do have debt. Yeah. But...

I want you to have enough to either cover your highest deductible or to have a one-month emergency fund. So we're going to determine what that is, and then the rest goes to debt. Is it a Korean interest in there? Yes. How much? I don't know how much.

I mean, you're getting $0.35, so really not much. I don't know. It's weird when there's like a traditional higher savings account like SoulFiver, you get 4.6, or you could even put it in Moomoo where you get like over 8% right now of just leaving your money in there. The biggest factor for the Albert with me that was why I went there was that they do, it's not a set amount of savings. They look at what you have in your account and withdraw based on that.

So that way they're not, it's not like. Well, if you budget, you can manually withdraw. It's not a big issue. Plus, it's exciting to throw money towards savings. 18,000 in retirement. No, at 25, I'm actually quite happy. It's a good start. It's a good foundation. There is a positive here at that. Okay. It's waiting for us to get to that point. Yeah. The Walmart.

I need the $900. You need to know what happens there. I need you to sit down on a monthly basis. Again, go through the budget program, but sit down on a monthly basis, figure out where every cent was spent. And when you do this, it's going to take a long time your first time. It's going to take a long time your second time, but it gets quicker and quicker every time you do it on a monthly basis. But you need to look at where your money is going. The fact that we can't define like the craftsman, we can't define...

900 going to walmart and yet we're underwater dramatically by two thousand dollars a month yeah it's okay so your rent is how much again after utilities and fees and all that uh the number in my head is one two three four after utilities and freeze and everything two three four okay does that include internet gas electric internet not electric gas and how much for electric then

Jesus Christ, it's Texas in the summer. So like... Is your place not very efficient? No, my pay... How much? Somewhere between $100 and $200. $150. Rancher's insurance, do you have it? Yes, I paid for it up front. A year? Yeah. Okay. Gas, vroom, vroom, drive, drive. How much on a monthly basis? I probably fill up twice a week. So eight times 30. Eight times 30? Filling up twice a week, about $30 a month.

Oh, you fill up twice a week. I think so. I heard that it's once every two weeks. Sorry. $240. Wow. Okay. Car insurance? Yes. I think it's like $190. Okay. Your debt minimum monthly payment is $352. It would be over $1,000, though, if something happens to your mom. Obviously, hopefully not, of course, but, you know, there is the risk there that is realistic. $100 for a TP fund. Anything else you need to survive. This is makeup. This is whatever. Gym. Gym.

Included in the apartment, luckily. One of the few benefits. Do you have medical ongoing payments, co-pays, things like that? The only thing on a regular basis that comes to mind is going to be medications and required vitamins. That's what a lot of those, let's call it 50. You have pets? Yes. Pet insurance? No, because I did and it did not benefit me a single bit. How? Every time I tried to file a claim on it, they told me, nope, doesn't count. Who'd you have then?

uh spca okay i don't know about them but my pet health insurance has literally saved me six seven thousand dollars no i would love to have had it work because i did i paid for it for geez over a year and it didn't do anything well i would look at true consumer oh that's i almost it sounded like i was giving a brand true consumer reviews no that's not a brand but like actual consumer reviews and to see if that one because that was the one that

My company benefits was like, here, this is the one we support. Okay. Yeah, no, I would just want to make sure they're, you know, good. And luckily the one I have is. Okay. I got to do groceries. But with you and your boyfriend, it's...

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the free money because i'll punch you what all do you cover related to him i cover food i don't consider rent because i would be paying the same in rent no matter what um food phone what's your phone bill i think his is set at 25 bucks a month okay that's not bad no he's using something like helium we both use mint mint okay yours is 25 as well i think mine's 30 because i pay for more uh

Okay, so 55 for phone. Groceries, $500. Meal prep, $500 is fine for both of you. If you're meal prep, it's just a few meals a week, frozen up, refrigerated. Meal prep, meal prep, meal prep. What else do you cover? Like I said, and then probably the other big thing for him is non-essentials. So give me a second because I feel like I'm being really quiet. Biggest thing, non-essentials, his big habit is he does smoke cigarettes. Okay.

Well, I don't know how to go about that. I can't put that in the budget. I'm not going to put that in the budget. He smokes cigarettes and vapes, and he just had something in his lung? The vape is very, very, very, very little, and it's the CBD-8 or the T-8. Okay, okay, sure, sure, sure. He should probably stop. He's cut back. For someone who's had a habit for a very, very long time, he has cut back. You wanted to smoke in the house? No, no.

I can't put that in the budget. What else do you have to take care of? Anything else? Not that I can think of. Subscriptions. How much for pet food on a monthly basis? I think it's 60. Listen, because that's also kind of enabling his addiction and bad behavior.

So it's just like, I really can't put that in the budget and quitting so much easier said than done. I know that's, that's one of the hardest addictions to break. It's horrendous. I like, I get it, but it's coming out of your budget. And this is obviously not good for me as well. It's just like, it's hard for me to put that in the budget. $2,931. Okay. So we're under, cause you have $2,559. So there's really no way for you to budget this. Um,

A lot of that is because groceries are more expensive and this is without putting in the cigarettes. And the big reason why we're over is because, you know, your credit cards, they just keep going up probably because you're under. So they just keep going up. And of course, your rent is 48 percent of your income. When's your lease up? December. OK, you're not living there anymore. No, I'm not. I'm getting the heck out of there.

Well, why, according to you? According to me, well, part of it is what I'm paying versus what I'm receiving is not working. Okay, either way, get in a relatively safe environment, get a $1,100 place, $1,200 place. You can't afford this. It doesn't make any sense. You'll at least be close to breaking even around then in your current situation. How many hours a week do you really work on average?

Okay, the reality is, and it's completely up to you if you want to take care of this dude. Completely up to you. And if you do, the reality is you're going to have to work another 10, 15 hours somewhere else. Or else you're just underwater.

It's as easy as that. I mean, you can always, even if we forfeit our credit cards and let them go into collections, credit score or all that stuff, even do that. Getting rid of those minimum payments doesn't get you to break even. You're still underwater. So that's not even what's going to do it. The meal plan is a pretty aggressive meal thing. Do you have a car payment? No. You're lucky there. Your gas is expensive. What do you have? What do you drive? Kia Soul. Okay. Lots of miles.

You fill up twice a week. I think. Again, that's an estimate. I mean, your phone bill's good. Of course, you're taking care of his socks. Yeah, it's your rent. Your rent is killing you. If you include your rent, your debt, minimum monthly payments, and taking care of him, if you include that and get rid of those and have an affordable rent, you have a few hundred bucks extra on a monthly basis to start throwing to a Roth IRA account.

You have to work a couple hours. You have to work an extra 10, 15 hours a month. You have to. A week, sorry. A week. I wish it was a month. A week. So you're getting a coffee job. You're getting night stocking of shelves. You're getting anything and everything. And I've looked at it. I've looked into it. The hardest part is availability. Yeah. No, you're going to have to get creative.

But because the only other alternative is like literally, I mean, what's the alternative? Like you're just going further into debt because you literally cannot afford this or you're going to break your lease or you're going to get kicked out.

Like, honestly, something that might be worth it is having an honest conversation with the leasing office and being like, I just simply cannot afford this rent anymore. What can I do to break my lease? So you can get out of it early. Because the fact that you have to do this for another four months still is insane. Insane. This rent is too much for you. If your rent's ever near 50% of your net, don't. You're supposed to be living off of 50% needs.

You've already maxed out your needs with just your rent. I want you to have a nice place. You just can't afford this place. And math is math is math is math. And you're making your life worse and harder. How much are you contributing to your 401k?

percentage wise I'm not sure okay you might be contributing over your match to get to that balance already so I would actually probably bring it down to whatever the match is because the match is 100% return on your investment but honestly even if you're not even breaking even with your rent get rid of your minimum monthly payments but your rent even that like a roof over your head is more important than a match so but to first start drop it down to the match because I think you're contributing higher we need more money in your pocket right now to just take care of our things and

Because you need to pay off the $5,964 credit card as soon as you can. And then $835, $8353 card. You need to pay those off immediately. I have a query for you. Please. Part of me thinks that it's an insane, stupid idea. But at the same time, it's the only one that I can think of. Would pulling from the 401k to get rid of the debt be an option? No.

Like, I don't know. That's where I'm at. So you're going to face an immediate 10% loss. Okay. That's a penalty early withdrawal. And then you've likely taken advantage of a lot of 2023 and then 2024 gains in there. You're going to get some long-term capital gains and even some short-term capital gains on those gains. So your tax, your hit could be like 20%, 25% total loss.

there meaning you're getting kind of like a 20 25 interest on that money which is similar to the credit card so it actually might not make sense mathematically and well but let's say it did make sense mathematically let's say you took a loan against your 401k at like a low percentage like five six percent and you paid off your debt with that that doesn't solve the problem though because you got in the debt due to behavior issues you can't control your spending you don't know how to manage having debt and

and you paying them off isn't going to be a mission success you paying it off gives you the ability to spend more money on them you paying these off by never spending on them again cutting them up sticking to a strict budget builds the behavior that you don't credit cards again if you just consolidate them through some kind of method or whatever at this point

you're likely just going to build them up again. We've seen it time and time again on the show. So you just kind of double hurt yourself because then you've drained your retirement or took out a loan against it, and then you're going to have to pay off your cards again because you're going to build them all the way back up. So I wouldn't do it. I wouldn't do it. I'd rather let them go to collections and just hope that they don't sue you in small claims or anything. But I don't know. $8,000 is a decent amount of money.

There's certainly a mathematical cutoff in terms of where they'll come out through legally, but they're entitled to. They're entitled to. For a few hundred bucks, they certainly won't. For a few thousand, they certainly won't. Approaching 10,000? It's a chance. What do you think? I'm thinking I need to take my family's advice and finally shake... What the f*** did your family say? Shake down my ex-husband for the rest of the money he owes me on the credit card. He owes me a... What? So... What? Again...

Like I said, when we got divorced, it was pretty amicable. Was this in the agreement, signed? No. Okay, then he probably doesn't owe you anything. But go ahead. I did not get anything. Neither of us split anything legally money-wise as far as the divorce. I didn't receive anything from him. He didn't receive anything from me. But the agreement we made was that... Verbal agreement? Yes. And he has stuck to it. It's just not been...

Up front. It's been, hey, can I get money for the towards the credit card? OK, how much started out with like eight thousand? Because that was the balance on the credit card at the time that we got divorced. He was going to that was the agreement was that he was going to pay off the balance because it was. Why hasn't he? If I know. Call him. I will. No, call him. I'll talk to him right now. I don't think that's a sound idea. Why? First of all, I would hope to God he's at work because that was.

an issue. Part of it's I don't want him to know how bad I'm at, like how bad of a situation I'm in because he's just going to get... When's the last time you've brought up him giving you the money? Last week. And he sent over $750. Where'd it go? Currently it's sitting in my debit account, but it's going to go. How frequent does that come in? Anytime I ask, I... How frequently do you ask? At least once a month, if not twice. Okay. And it's somewhere between...

Ask more. Ask for a bigger amount. Sounds like he's giving money if you do it. Yeah. It's just not. Say what you need and say how much he owes left. I haven't written down. And just get it. How much is owed left? I think it's two or three thousand. I know. Barely makes a dent. I know. Because you've just been irresponsible with the card. Okay. Well, obviously get it and throw it towards the card. But again, what that has proven is that doesn't change your behavior. You need to change your behavior first. Because that's what's going to actually make a difference here.

Spending a budget you overspent dramatically is 0 out of 10. Debt, you have collections. 0 out of 10. Emergency fund, not a great, nothing. Oh, wait. No, no, no. Actually, okay. So you do have a month's worth in there, which is great. So I wouldn't throw any more to savings. The rest goes towards debt now. But you do have a month's worth. I'm going to give you a 2 out of 10 there because it's like $2,500. Okay. Retirement. Pretty happy for your age.

Well, actually for your income level, that actually makes me even happier. I'm going to give it a 7 out of 10. Real estate, 0 out of 10. It's going to be a Hammer Financial score of 2 out of 10. Make sure to join us in the post show. We're going to bring in the producers. We're going to talk about some extra drama and stuff that we didn't have a chance to talk about in this episode that they know. And then

Also, check out all the resources linked in the description below as they are what I use or would use in specific situations, including the best budgeting and investing program ever created on the internet, which are now discounted at a 15% bundled price off. Something like that. Join us for the post show. Today on the Financial Audit Post Show. You guys agreed together that he would be moving down without a job. You guys agreed to this. How was this proposed? In his words, he would be house fit.

Stay at home person. So he had no intention to get a job then? Not initially. When was your divorce? November. In November. And you started talking to this guy in December and he moved down only a few months later. And there's red flag warnings everywhere. To watch the financial audit post show, click the join button below.