Gen-Z Scumbag Thinks He’s Better Than Me | Financial Audit
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To watch episodes of Financial Audit a week earlier, check us out on YouTube. My producers told me before I was heading in this room that I was about to talk to someone who knows his numbers, who is financially well-informed, yet I have seen someone at a credit limit on a card and above a credit limit on two cards. Well-spending on those cards. I don't f***ing understand. Your producers didn't lie. I'm well-informed about it. Mathematically, it is proven right here. Take a...

That is going to ruin my day. Hi, my name is Marcus and I'm based in Round Rock, Texas and 25 years old. And this is Financial Audit.

What do you do in Round Rock for a living? So now I'm in sales development. Fancy word for it. I handle the inbound and outbound initial emails, phone calls and such. For what? It's in video and game development. Ooh, that's fun. It's extremely cool. But some of the audience might be familiar with the strikes that happened last year. So I have two jobs and I've had two jobs for years.

five or six years now. Okay. Well, let's stick with that one first. What do you make with this job? Is it widely commission based? So, uh, no, the salary was pretty good. I cut it down to part time, but it was, um, 55,000 at full time. Um, but now I've cut that down halfway. So 27, five, uh, it shakes out to about 26, 44 an hour, I believe. Okay. Why'd you cut that down? So I was getting pretty frustrated because, uh,

I hit my two-year mark there. And initially, when I had joined the team, everything was really great. But then, so I was hired on to kind of start this role in the company. And the one other person I was hired with, she left the company. And then shortly after that, my boss, the chief strategy officer, left the company. And things kind of started falling apart there. So...

One of the biggest issues is that I didn't have KPIs. So no matter how good or poorly or average I did, I didn't have anything to show for it. So I couldn't push for promotions. I couldn't push for raises. I couldn't even push for bonuses. Aren't you gathering your own then? I tried many times and I put forward proposals. How long have you been part-time then? Since April. Are you not showing the company that you're on your way out? The team is shrinking. Why would they keep you if you're indicating you're on your way out?

Well, I do. I try to. And even recently, I've asked to go back to full time. But because of how much the industry as a whole is struggling. Okay. So is the company struggling because of the company is actually revenue struggling? Yeah. It's not because of the culture. Okay. Yeah. And what's the other job? You said you have two jobs. So what's the other? So now I'm in security. I just got into that last month. Oh, security is great. Wait, what kind of security? Cyber security? Private security.

Okay. That's great. Um, pays decent. Uh, it's not what I would prefer. Okay. Yeah. What is the pay? So that one's 21 an hour right now. Yeah. Okay. Um, but it's, it's a little lax to kind of just walk around a complex. So, um,

How many hours a week? It's between $30 and $50 right now. So what's the income that comes in on a monthly basis? What came in last month? Last month, I believe it was something like $4,100, give or take. This is actually a bit confusing. We had cash and check-in. That might be from work. $1,748. And we had Zelen of $2,238. And then a payroll check of $887. But also a Robinhood cash-out. Obviously, we're not going to count that.

So minus that, we're at $4,964, just about. That sounds about right. Some of that might have been Venmo that was not my income. Some of the small Venmos, I think there was like a $300 on there. That was me asking my parents for help. You're asking your parents for help right now? Unfortunately, yeah. I made poor decisions. I needed some extra income. How long have you been asking your parents for help? Probably since 2022, I want to say.

Yeah. It's occasional. And I try to minimize it. What's occasional? That was the first point that I had asked for help since in like a year, probably. But that was how much? So, I mean, grand total this year, I think I've taken twenty three hundred. It's OK to get help, but you've personally cut your own hours down by choice. So that's where I'm like, what the are we talking about getting help? Yeah. You cut down your own hours by choice because you didn't like it.

Which, okay, we can do. But all of a sudden, if we're not able to pay our bills, we're looking for a better strategy to recoup the income that we're losing. So it wasn't just because I didn't like it. When I cut my hours down in April, it was because I met somebody who made $60,000 in one month doing door-to-door sales. And I thought, well...

I can do that. Yeah. I mean, it was terrible. I tried it. I made like one sale, got me about two grand. And then after that was... What were you selling door to door? Solar. Of course. Of course. Solar.

So it was for a purpose. I was pursuing other income, but then it didn't work out. So if it doesn't work out, go to the job and say, can I get more hours? Because you're sales, so you're benefiting the company. If they're allowing you to work more hours, it's because you're obviously generating revenue for the business. The sales pipeline was so dry that... Almost as dry as your mouth. Take a drink. You're smacking. Yeah, the sales pipeline was real dry.

Any additional work I could have put in was really just being done by the sales directors. How long do you have sales on your resume? Three and a half years, maybe. See, that's great. Sales, you can take that skill and you can sell something. Listen, I wouldn't say go door-to-door for solar. That's usually not the sales that's like, woo, let's do that because –

Everyone tries that and everyone hates solar salesmen. I can gift you a tech sales certification through CourseCruise to help boost that resume further. But do you want to keep going into sales because this can still be a lucrative place? Well, there we go. Yeah. Sales is where I want to be. I've started my own businesses before.

haven't really got them going yet. But, uh, what businesses are you starting? When are you, Oh, that's such a detract that's taken. No, no. What? No. What businesses are you starting? Cause you're taking money from your parents right now. What are you starting? What businesses are you starting? A little entrepreneur. What are we doing? It's,

So now I'm just working on product research, trying to find ways to break into e-commerce. What? What side of e-commerce are you trying to break into? Starting with Amazon FBA. Oh, f*** me. Are you a dropshipping guy? I'd probably start with that, I would assume. Okay. But additionally... So you tried solar sales, which everyone and their mom does. So you're trying the other thing that everyone and their mom does. Yeah. And of course, there are people that make it just like there are people that make it in anything. Yeah.

The majority? Yeah. Seeing somebody show the proof that they made $60,000, I thought if I made a tenth of that, I'd be fine. $10,000? No, they made $60,000 in just March. Oh, in a month. One month, $60,000. And they showed me the proof.

I figured I could do it. It was not as easy as I expected. Additionally, for my own business, I'm studying the International Residential Code to maybe start a second stream of building inspections. Building inspections? You're going to be an inspector?

Yeah, I think it's a good qualification. Sure it is, but what gets me a little concerned is when we just have so many, our hands in so many different pots, you're not focusing in on one. We're part-timing, we're borrowing money from parents. Sounds like you're doing every hustle that every, you know, like I'm going to be an entrepreneur type of person does. Like you're going down those same rabbit holes as so many people. The success rate for dropshipping is generally between 10 and 20%. That's higher than I thought it was.

So it sounds like something we should bet our life on. That is funny. Yeah. Our life. I supplement by working the 50 to 70 hours a week. What do you mean? So both jobs come together? Yeah. Yeah. So I have. But, but, but.

Who working 50 to 70 hours a week is borrowing money from their parents? It was because for a short. So while I had two jobs, the previous job I worked as a server in a restaurant and then I quit that. So there was about a two month period where I only had the one job that was part time. So I usually work to two jobs. OK, no. Why? So because I think it gets us a little confused when we have our hands so many different pots.

What you could be doing is focusing the skills resume you have, possibly taking advantage of the certification to boost your resume. Take that. Find a better sales job, an actual sales job in an actual company that isn't you just going out there and busting for solar. Take that. Work 40 hours a week, 50 hours a week and make more money instead of making less money at 50 to 70. But because you're distributing your time and energy across all these different possibilities,

Piles of things. You're not focused in on what can actually be what's generating you the revenue to take care of debt, obviously, because you're on the show. Anyone that comes on the show has debt. So, again, I mean, that's just another pile that is in this thing that you have to deal with. Yeah. Yeah, I agree. And that's part of the issue is that the job market right now is extremely competitive. Yeah.

So finding something that's full time and pays at least what I'm making now or more, which is what I would need. Well, I think that I need for my bills, but I haven't worked out the budget the way that you do. I'm trying to find something that can at least get me maybe forty five hundred a month full time. Next time you go to sell something in person, man, just threaten to stab their eyes out with the weapons hanging from your ears. I consider it.

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I'd consider myself pretty financially literate and I choose to make. Yeah. Yeah. I choose to make poor decisions and then can't even justify it to myself later looking at it. It's a weird case, but I look at the numbers and I don't know where all my money's going.

How are you financially literate, but you don't know where your money's going? What are you talking? That doesn't make any sense. Those contradict each other to the extreme. Take a drink. You are a lip smacker. You are a dry mouth guy. This is a podcast. No one wants that. What would you give yourself? Self-assessed. Financial score. I'd give myself a generous four. I pay my bills. My bills are paid. Okay, Tammy. Why? I have a...

historically i every single bill since i was 18 everything is all paid on time nothing hits collections nothing um that's our definition of being solid down the middle it's four is below average but the positive points that i give myself on the score are the fact that a lot of people do have late payments or collections and things and i just i don't have that because i pay my bills okay

If you want your Hammer Financial Score, it's free. A link in the description below. And if you want to be on this show, by the way, and if you have interesting story, interesting finances, anything like that, apply. CalebHammer.com slash apply. We'll have you here in Austin, Texas. Let's start with the best buy card. Jesus Christ. That one is tough. Okay. Sure. Okay. The thing is.

What, is everything a joke? What are you doing? No, no, this is the copelap with my worst credit card and some of the worst decisions. Yeah, financially literate. I'm a 4 out of 10, guys. You're financially literate, you say. You'd pay your bills, all this stuff. The credit limit on here is $10,700. You're at $10,967.

So I don't know what you're talking about. Interest hits like a truck. So why are you purchasing on it then? So I kind of fall into this loop. What is that? What are you doing? You're adjusting with it constantly. Oh, because it falls. Why are you wearing it? I have some scars that bother me. That's fine. Sorry. The spending annoyed me. Yeah, so I'm in this loop where my credit card minimum payments take up all of my income. So then when I have to buy things like

gas and groceries and fun money. Fun money? Why would there be fun money? Smirk, smirk, smirk. Why would there be fun money? Why would there be fun money? In what world would there be fun money if you literally cannot pay your bills? It's tough to keep going without fun stuff. How much fun stuff? Probably like $200 a month. Sorry. That's just going to kill the listeners. Probably $200 a month of fun money.

So how much was your spending? Spending on what? Spending. I mean, all of it. At least all of my paychecks. It's not a number. 4,200. 7,024. Financially literate. 4 out of 10. I know a lot of that was rent. It doesn't matter. It's the number. Yeah. You thought it was almost half. Yeah, I have no idea. Okay. Okay.

And your bullsh** you think is only a couple hundred bucks. 400 bucks for bullsh**. Yeah, I think so. Going out to you, it was a little small. Large purchases. You had large purchases of $1,777. Even your phone bill is $428. My portion is $250. Substantially less, so it comes in. Yeah, yeah. I don't know where all that money went. For the substantial purchase, I cannot think of anything that was...

Oh, we'll go through them. Don't you believe it? It wasn't a single purchase of $1,776. Going out to eat was about $500. Well, going out to eat and miscellaneous bullshit was about $500 combined, which is already over your $400 max of money that you thought you spent on bullshit. Unnecessary. Fun. Yeah. Yeah, that's more than I thought I was spending. Okay, Best Buy. $10,967.76.

Minimum monthly payment. And you're right. This, I mean, this is, it's substantial. $651.76. That's a huge hit. It's a huge hit, especially we'll just, you know, trying to gather money from anywhere we can by working different jobs. I get it. Interest charged $273. You made the minimum monthly payment, but it doesn't matter because you purchased $1,329 on it.

which makes no sense when it's accruing that much interest when you're at the credit limit and when you can't make more than the minimum monthly payment. I think that a majority of that was the phone bill and electric bill. Can't think of what else would have been substantial on it. Apple bill, in-app, in-app, or a subscription. OpenAI, ChatGPT, in-app Apple thing. Truthfinder.com, who are we truthfinding on?

Okay, so that one was relevant. I was looking for family members' information. Why? Didn't have access to it. Somebody had been missing for a while. Someone's missing? Yeah. Did you find them? Found them, yeah. And I canceled it immediately. And are they... Yeah, things are good. Other family members couldn't connect to you? That's eventually what ended up happening because Truthfinder couldn't do it.

So it was pointless. In-app Apple purchase, in-app Apple purchase, in-app Apple purchase, in-app Apple purchase, in-app Apple purchase, or subscriptions, whatever these are, I can't see. They're subscriptions. Oh, well, you have every subscription possible. Well, they're for AppleCare, for a bunch of individual devices. 1, 2, 3, 4, 5, 6, 7, 8...

I believe six are AppleCare. The rest is Grindr. Okay, and then HBO Max and then Best Buy. HBO I canceled because that one should be included with my phone bill, but for some reason it's not, and I don't even watch it, so it doesn't matter. Yeah, and then Best Buy. How much was it, Best Buy? It looks like you went and got a bag of candy or something. Oh, no. Was it $1? $132 to Apple. Yeah. Yeah, I keep all these AppleCare subscriptions because I...

I just am nervous I'm going to break something that's going to cost way more. Cool. Keep paying your minimum monthly payment on this as you are and it takes 25 years to pay off. Yeah, that was bad. $1,695.33 of interest this year alone on this card. The year's not even done. Yeah, that's what I was looking at. $2,000 by the end of the year probably. Yeah, that's what prompted me to do all this because I looked at all of my credit cards combined and saw I was paying about $600 a month in just interest.

Pretty severe. Why do you know some things, but you don't know others? You have taken the step of understanding that. Woo. Wonderful. Great. Actually. Well, actually, sorry. I was being sarcastic. No, Jen. Genuinely, that is great. But then why do not know that you're spending double what you thought you were spending? Why are you putting money on a card that you cannot pay off?

Why are you doing all the actions behind these that are absolutely ridiculous? Looking for something scalable to get me out of it. Yeah, I choose a job which usually has more than a 10% success rate. I've got two of them. Yeah, I choose like a full-time job. I've got one of them. Full-time job that pays the bills, which you can with your resume experience and potential skill set. Yeah, yeah. The issue is really just...

Okay, you're endlessly scratching your legs. Oh, I'm just adjusting my pants. Okay. Why? What's going on down there? Because I feel like they're high waters. I don't think they are, but I'm trying to adjust them. None of that or words to me. Yeah, yeah. I absolutely feel like I could find a better job, but just looking for something competitive. No, that wasn't my question.

My question is, why are you knowledgeable in the fact that you know you're paying so much interest, but nothing has changed around it? You gathered the information, but you didn't execute anything. Well, the issue is keeping up with the minimums right now.

What was it? $150 to spend on Apple? That gets you close to some of the minimums. Yeah. You're never going to catch up on the minimums if you're making this balance go even higher and higher and higher every month. You make it worse because your minimum last month was $400, but now it's $651. And that was paid. I pay every statement as soon as I get paid. Yeah, but it's going higher. You're making it harder for yourself, and you're saying it's taking away from actually making any more progress. Yeah.

Yeah, I unfortunately agree with that. Not much I can argue against. No, I'm asking why you haven't given me a reason why at least self-assessed. You think you have done no actions around this, even though you are knowledgeable about your interest situation and your minimum payment situation.

Why don't you cut back on the eating out? On any of the fun? I don't think I eat out very often. Listen, your eating out was $200. It's not absolutely insane compared to a lot of people on this show. That's a third of this minimum monthly payment. Yeah. It gets you there. It gets you there. Your other miscellaneous bullshit, about $300.

Throw that towards it. You're basically there. You're almost there. Wham! I can't afford my minimum three payments. Mommy and Daddy, come help me. Oh, wait. On things that are just going out to eat, stopping to get into Takedos and just bullsh**ting video games or whatever. That could have paid the minimum three payment almost. I only asked for help while I had one part-time job. Now I'm good. Now I don't need help. Listen, it happened. Yeah.

And this is the life you're living. You're spending that money and you're saying because of the minimum monthly payments being too high, that's why I can't afford to live and I'm not making progress. Where in fact you could have – well, you could have more than made your past minimum monthly payment. But again, you put more money on this. But what goes to miscellaneous BS and going out to eat.

It was nothing. Yeah. So I have a bit of a plan for that car. Oh, well, it's here. Plans are good. It's just the execution behind it that concerns me based on your actions. But go ahead. That's a little what I'm concerned about. So it was the execution. But I got a personal loan, which I've done before. No. But it's a good one. Is there a refuted in here? Do I have the statement? You have the inquiry on this one. Oh, he brought a little. What is it?

No folder. The Experian report. Oh, shit. So I was rocking with zero inquiries for quite some time. But when I was looking at everything, I was trying to figure out a way to fix it. When someone brings a fresh folder to the show, you know things are not going well. So my idea is paying off this 30% interest rate and then another card with a 30% interest rate. The loan is $17.73. Okay.

And? And? And not spending on those cards anymore. No, you need to close them. You can't control it. You can't control it. It doesn't matter. You're not taking advantage of any credit. Credit's taking advantage of you. It's f***ing you. You have 30% maxed out, over maxed out. You can't do it.

You can have a card. You can have something like the Fizz card, a charge card. You put the money on, you can only spend what you put on and it helps your credit. You can do that. You cannot have access to $10,000. You can't, you don't know how to do it. - Yeah, and every time, I had it at like 6,400 and then they raised my credit. - Yeah, and they keep well. - And they knew. - So stop.

That's what you would have to do. I don't want you to consolidate anyway because doing that before fixing behavior doesn't do anything. That just f***s you. That brings up cards. That makes you open another card. That gets you in a worse situation. Trust me. Many people have been on the show that are on the other side of what you're about to do. My only concern with closing the cards, though, is affecting the average age of credit history. Yes, absolutely. Of course, absolutely. It affects your credit score. But guess what? You're getting f***ed at 30% overspending on your limit.

What is more beneficial that you're going to take advantage of with having a good credit score than you are getting f***ed?

Now, legitimately, guys, I believe that you, everyone in your life, everyone around us can actually take control of their financial future and make their lives better. And we've spent over a year here creating tools to help make those goals a reality. Right now, our budgeting program and investing program are bundled together at a 15% discount, and you get $100 in cash gifted to you right into your MooMoo account. There's honestly no time like the present to actually take control of your future. Don't wait. Don't let this opportunity pass you.

What's more beneficial mathematically that you're taking advantage of than the negative impact you are getting right now with this? The end goal is fixing it and then being able to get a house. Now, house is impossible right now. Yeah, and we can do that. And guess what? You can build a credit score again with charge cards. And yes, yes, you're right. Credit history and age, credit age will be an impactful part of this. You're also lowering it by opening the personal loan anyway. But

regardless, we can get you into the world of having a good credit score and getting a house. But that's far away anyway because you're negative money right now. So by the time that that's even a part of it, we can have discipline. We can have credit cards. You're looking long term but short term. It doesn't make sense. Yeah, yeah. It's been a common trend looking at the long term and

making the poor decisions that don't coincide with it okay and what are you doing to address this something you know this show's not a magic pill we're gonna call out the situation you're just making people aware of their situation creating a light plan and connecting them with resources so i usually i try to follow a bit of a budget but it usually only goes no budget you didn't know how much came in you didn't know how much went out you don't budget don't don't don't even use the word budget

Go through our budgeting class. Go through the budgeting program. Take all the quizzes. Go through all three hours. Take your family through it if you want. You get it for free for being a guest on the show. Go through that because, no, you don't budget. You don't know what a budget is. And you can get the budgeting program right now and the investing program where you get $100 in to your MooMoo account. And that's all at a 15% discount right now, by the way. Check that out. But you get it for free. So go through it. Take advantage of it. On the Apple card, $1,000.

$431.82. The $51 minimum fee payment. You could have easily made this minimum fee payment with the amount you spent, with a fourth of what you spent on going out to eat. So I don't know what the f*** you're talking about before. And I did. Minimum fee payments.

Yeah, you paid it, but you said it takes away all your money from being able to make progress. I know you're making minimum, but progress. I think I pay more than a minimum. I'm pretty sure that on like usually didn't on the last one. And so on the Apple you did on the last one, you did not.

Did not pay the... On the Apple you did. On the previous card we looked at, you did not. Oh, so that one was because the minimum for the Best Buy is usually like $400, but because the interest shoved it way over the limit, the minimum also tacks on the over limit. Yeah, you made a little more. 27.24% interest rate. You're getting $35.70 of interest accruing. It's just accruing across the board. $41K. Oh, okay.

loan though this is a loan i was gonna say usually the investment accounts are at the end of the stack well that's why 1883 against the year six thousand eight hundred dollars in equity position yeah so the issue with with that why did you take out a pay uh uh 401k loan that's the issue that was to pay off a previous personal loan and how does that work

Because you're doing it again. Yeah, that personal loan. And guess what? We brought up more debt on the side anyway. Because we didn't fix the behavior before we tried taking a shortcut. Yeah. And then the issue with those was that the company, in a lot of the adjustments, they switched from one provider to a different provider. And then from that provider to another provider, which stopped those from getting automatically paid. And then they just ended up defaulting.

I'll probably just call them up and pay them to have that closed out, though. This? Yeah. First, before anything? Before the credit cards. What's the interest rate on this? If I recall, I think the interest rate pays back into the account. What's the interest rate on the loan? On that one, I don't know. Well, it's not on here. And I know your minimum repayment. Yes, that comes up before you get money, probably. Not anymore. What's the minimum repayment, then?

I think both of them were... There's two. There's one with a balance of $244, one with like a $1,800 balance. Oh, f***. Let's see the $244. Okay. So what's the minimum monthly payment? Both of them were $84, so I think... $84 together? I think one... Maybe $170 together. Freedom card. Freedom card.

Ooh, this is chunky. $5,390.20. I swear if you purchase on this, I'm going to freak out. You didn't. Thank you. Thank you. But you're basically at the credit limit. $100 away.

Minimum repayment, 176. Again, with your spending and needing out, yeah, you did make a little extra. So what do you mean there's no money left over? You're obviously putting a little extra towards some of the debts. You're also going about it in a weird way. What's your strategy? You're putting a little extra to this one, a little extra to this one, a little extra to this one. Like that doesn't make any progress. That's not any of the accepted debt payoff strategies. It's paying all of them off more than the minimum. So I feel like it makes progress on all of them.

Okay. If you put all the extra on your smallest debt, right? It pays off the smallest debt quicker, right? Then paying just a little extra on everything across the board, correct? Yeah, the snowball. Now, when you pay off the smallest debt, what happens? No more interest on that one. Okay. No, now you no longer have the minimum monthly payment on that. And that minimum monthly payment that used to go towards that gets rolled into the next one. And that's why it snowballs. So that's the benefit of the snowball. Avalanche. What's avalanche? You know avalanche?

Oh, Avalanche is the other way they accept the debt payoff strategy. Avalanche is paying off the highest interest card. Why do we do this? We do this so, you know, we don't have the highest interest rate card accruing anymore. Mathematically, that one actually saves the most amount of time, or actually saves the most amount of money, but that snowball is the best psychologically, keeping people motivated. No one suggests putting a little extra across the board because you're not making progress on your highest interest card.

as substantially as you need to. And you're not making progress on your smallest debt to allow that minimum monthly payment to go to the next step. This strategy is getting you nowhere quicker. I mean, technically quicker than just minimum monthly payments, but it's not accelerating you there like the other plans would have you. Yeah, that makes sense. I don't think I've framed it that way before with this personal loan. I didn't know the name of Avalanche, but that's how I was looking at doing it. But you're not. Why? Well, now I am. I was

I was going to do the Best Buy and then Venmo. Okay, what you were going to do, but you're not doing it. It hasn't been done yet. We can all say we were going to do something. But it's not what you were doing. Yeah, so I agree with the avalanche side of things. I don't want to do that. You were above the credit limit at the beginning of the month. Because of interest.

Yes, because of interest. But you also put it all the way up there in order for it to be put above with interest. Yeah. And I don't know how all of the, you know, the death by a thousand cuts got me to that. Because you don't budget. I can't believe you're about to tell me you budget. You don't budget. You don't know what a budget is. You've never heard of a budget in your life. Never seen a budget. You've never seen it. Well, when I look at a budget, I think like I kind of track where all of my paychecks for the next month forward, which bills they're going to pay for.

Yeah, but then you don't look back. There's no point of it if you don't look back and see what actually happened or adjust it for the future. It doesn't make sense. That's what a budget is. Again, you'll get it in the class. Oh, you got a refund from something. Okay. This is a 25.99% interest. Costco card. City Costco. Wow. Love that one. That was my first unsecured card. Apparently you do because it's above the credit limit. Again, are you kidding me? How is this happening? How is this? Shh.

you purchased you purchased on it how are you doing this how are you doing this okay what my producers told me well before i was heading in this room that i was about to talk to someone who knows his numbers who is financially uh well informed yet i have seen someone at a credit limit on a card and above a credit limit on two cards well spending on those cards i don't

I don't understand. Your producers didn't lie. I'm well informed about it. I just keep it going. Okay. Then that's even worse. It's because if you were ignorant to it and you kept it going, I would, you know, we can help you out of it. But the fact that you're like, you know it, and then you're choosing to stab yourself in your throat. Yeah. Yeah. Maybe less than death by a thousand cuts and stabbing the throat's accurate. Uh-huh.

But I don't think that I really made any substantial purchases on that. $882? Oh, that was the car repair. Yeah, I had to do that. You didn't have an emergency fund? I didn't. Yeah, every time I have savings, I just throw it into a card. Into a what? Into one of the credit cards. Oh, then it's not savings. That's an emergency fund. What's your car? It's a 2019 Ford Fusion. Wait, wait, wait, wait. Okay, who is she? That's my girlfriend. Your girlfriend? Yeah.

Why the f*** are you paying for your girlfriend's car with money you don't have that puts you above a credit limit while interest is accruing? Between the two of us, it was the best option we had. And a couple million people. Yeah, well, what the mechanic was offering was this horrible deferred interest...

uh pay off this large balance within i think it was like three months otherwise it's an inch how large it working out the numbers the the interest was well over 100 no no no how large is the balance you had to pay off three months oh like uh 800 technically you could have done it i wouldn't have want something someone like you to have it though because you don't want to manage paying your debt

But even still, why are you paying for hers? That's what the question was, not what debt offerings were you given? Because I knew her options were worse. So just kind of between the... How much are you taking care of her? I mean, she pays it over time. So she's in debt to you? Technically, yeah.

Do you help her in other ways? I mean, we live together. Does she pay towards rent? Now, how is this debt payback going? What does it look like? She just taxed it on to what she gives me for rent. How much? Usually about $100. Usually about $100. So it's not a specific amount to be paid off by a specific amount of time? So working in a restaurant, money varies quite a bit. So it just depends. I don't know.

Ask for it. Because you guys don't budget. How did you rack up the card to begin with? Because it wasn't an $800 card thing. You were already basically there.

And also, it was Costco, Costco gas, PayPal, postal, PayPal, postal, Wendy's, Apple bill, Amazon, micro. There actually wasn't a, Oh, here it is. There's the auto repair, but everything else as well. And then a Microsoft thing. Yeah. So the plan fee, the plan fee. Yeah. So plan fee for the card. That's for the computer that I have financed under that card. It's very nice. What are you doing? I have a weakness for technology.

What wrecked this card up to begin with? I can't remember, and I think part of it is because I used to have quite a few... And you called yourself knowledgeable about your finances. Well, I used to have quite a few nights out. I'm now past nine months sober, so... Oh, congratulations. That's actually really good. Good job. But what are you saying? So you would spend...

This for your ninth out? Is that what you're saying? Sometimes. And I think also I would make bad purchases while drunk. What? I don't know. I don't remember because I was so drunk. What about the computer thing?

What about it? Is that when you drunkenly got a computer? No, that was fully sober. How much was it? So I had a buddy that worked at Apple. He also had like a 500 off credit in addition to the 25% off. A very nice 64 gigabyte RAM Mac Studio.

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the free money because i'll punch you i like to convince myself that i'm going to use it for for for what must be rendering massive 3d files no i like to future proof but what do you do so i i've always wanted to do like video editing video streaming you do not need that for streaming video editing okay video editing sure unless you're like

four channels of raw red footage at 8K. You don't need a Mac Studio. But future-proof. Future-proof doesn't make sense because by the time you would want to get it, there'd be something twice as good out there.

By the time you're ready to go. Not future-proofing. You'll have antiquated technology. It'll still do it well, of course. Very well, in fact. But still, you bought the technology for what you want to do when better technology will exist. Yeah, well... And also for something that, again, I mean, you're trying like 50 different careers, dropshipping and all this bullshit. We're video editing now? What are you video editing? What kind of video editing? What are we doing? What's the plan? What's happening? Not doing anything right now because I don't have time because of the other jobs. What would you video edit? Probably games.

Huh? I like video games. Clips from video games? Yeah. You do not need a Mac Studio. That's literally correct. Yes. Get a $1,200 PC. Use Premiere Pro. Call.

Call it a day. Adobe's been in some hot water recently, so I kind of stick with Final Cut. Okay, Final Cut's fine. It just forces you to get a more expensive device. You'd be okay with how much was your computer after all the things? After everything, $2,500. Relatively close to a MacBook Pro you'd probably get, but of course it's not mobile. Well, I do have a MacBook Pro from 2018. Oh, I see.

You would have been okay, depending on its internals. Internals are okay. It's been slowing down over time. It was getting pretty hot. Is it Apple Silicon? No. No, it's 2018, so it has Intel. So, yeah, I wanted something with Apple Silicon. And then the current one is just slowing down. Discover it. I swear everyone on this show has discovered it. Okay, on here we go. $1,465.99. Okay.

There's still purchases. There's still purchases. We keep doing this. And again, this is borderline at its max. So everything we've looked at is either over the max or at its max. While purchasing. While you're knowledgeable about it. Which actually upsets me more than anything else. Because you actually know what's happening. And borrowing money from the parents. So...

This is... Yeah, it's because after paying all of my debts... Is what you say and what you said, except that's not true because we have your spending categories. We know you spent minimum $500 on bullshit and we'll go through the large purchases of $1,776 of $77. Well, yeah, but I had to use the credit card to do it because... To do what? To do what? To spend. Yes, but if you didn't spend it on...

You wouldn't have spent it. I don't think that much across them is full. F*** you. It's right here. We went through it. We put the time into it. What do you mean you think? It's not an opinion. It's not an opinion. Yeah, you'll have to go through the lines and figure out where that was going. PayPal out $67. That's in the large purchase category. You zelled out $1,180. Is that rent? $1,180.

Zelda. No, it's not because we have housing as a separate category. Wait, how much did I sell out? Total 1,180.

Transfer to an account externally, $125. Apple cashed out $380. And cash happened out $25. Those are the other large things category, which made up $1,777. I have no idea what's being sold out. And then on this card, even though you made the minimum monthly payment, guess what the balance went up because you purchased. Even though it was a small amount, you still purchased. You're mining that with the $35.71 of interest.

It went to $1,465.99 on a credit line of $1,500 with a minimum monthly payment of $56 now. Really just the opposite of any progress, the opposite of any discipline, the opposite of any financial maturity, and it's an Amazon purchase. Okay. All right. What was it? The Amazon purchase? Oh, yeah. I think it was a pen, like a writing utensil pen. A singular pen for $21? Oh, $21? Yeah.

No, no, I don't know. Pull up your Amazon. All right, let's see here. Watermelon fountain pen ink intense. Oh, for the pen. Your debt's only getting worse. $44 on this pen and then $9 for the ink. Well, our debt's only going up and borrowing money from our parents and have no idea what our career is because we're a mess right now. What the world are you living in? You're not living in the real world. That was after I got the second job and I went back. I don't give a...

Your debt's only going up. Don't try to excuse it. I don't have to borrow from my parents anymore. I know you keep saying that, but guess what? You did. And your debt's going up. Debt's going up. Yeah. Got some batteries. That's fine. More ink. You got ink twice. You little ink guy. And that black ink refills. Are you pen obsessed? What are you? They're for work. Here. Let me make your day. Here's a pen. Congratulations.

Best thing I've ever had. You got an industrial flashlight. Oh, my gosh. Reefs. What? Your pens. What are you doing? It says. This is crazy. I use them for work. You go through four pens a day? Sometimes the ink is bad and they dry up. Oh, my. What is this? Automatic.

If this is pen related, I'm going to freak out. What is this? Brush kit? Is this a brush or a pen? No, that was for part of the car repair. Rather than having them charge me $100 for a fire report. Acoustic sound panels? You don't need that. So that... Need. Think of the word need. Well, that was because I was having issues with noise for my... Oh, you're wearing the things that you... Those you just bought. Indeed. Little spike earrings. Those little weapons. Yeah.

Protein powder. Great. Gotta grow all that muscle for all the intense pen writing. That was spread over months. It's not like a ton of crazy purchases in one month. It was July. This is last month. What are you on about? Oh, I guess that was two months ago. Dude, I write a ton. I fill these books up so quick.

We refill it like once every six months. - What type of pen is that? I might buy one. - A nice pen. No, don't! Don't! You don't have money to. Especially because what is this car? What is this auto loan? What is your car? - Oh, my car is a 2019 Hyundai Tucson.

not the best interest rate, but it's 5.66. So that's not, but if you calculate in depreciation and everything, it's probably not keeping up with the market anyway, where the money could be. No, I just looked at it the other day and saw that for the first time since I got it, I'm upside down. What'd you see? What was it? What was the number? I think it was like nine and a half or 10. Huh?

I think so. Oh, really? So you're down by a third because you owe $15,676.37. Yeah, 5.66% interest rate, $411 minimum fee payment. And I do agree that the minimum fee payments are stacking. Don't get me wrong on that. I just disagree that they...

you have nothing left out to them. I really don't. So that minimum is actually like $490, but it shows less because I always pay $500 and then after many months of that stacking up, it asks for less. Again, you're not doing any debt payoff strategy that has actually proven to be beneficial. No.

We've got to reorganize this thing. It's not making progress. Venmo. This has started to come on the show recently. A Venmo credit card. I don't know when they came out with this, but anyone that's addicted to debt, they've started to get it. That one I think I might cancel because I actually just saw... You canceled them all. You don't know how to use debt. That one's raising the interest rate too. Two? 32.49. Oh my gosh.

yeah on my latest statement it says finally making money one thousand four hundred nine dollars and thirty nine cents minimum you're over the limit again you don't have a debt except for your car you don't have a debt that you're not over or at the limit all for pens and ink that's insane i don't understand the point of this life that you're living it's like you don't care about your future and then your retirement like you start to contribute to it

Yeah. Yeah. The retirement one's frustrating too. Cause, um, it used to have a really solid match. It's, it started from a hundred percent vesting schedule day one, but then as part of like the budget cuts that they just stopped offering for one K. Well, your car, we're actually getting a higher private market value, uh,

But you know the condition better than us. So you put in your VIN and condition and everything, and you got about $10,000 is what you got? I might be wrong. I didn't print it out. We're getting about $13,000. Okay. Oh, and we put in all the information that you had. Not dramatically underwater, still underwater. Okay, you owe $50 a month on this Venmo card. Again, you're over the limit. There are purchases. I swear to – I swear to –

It's because I end up in these positions where I only have available money on one card. Yeah, but why would you spend it on one fucking card? Because then I have nothing to spend. You dumb little... You dumb little... You little fucking bearded guy. Listen, and I'm trying. I'm catching up. But guess what? I'm trying. I'm just trying to process what I'm trying to say before I say it, so I just throw out words. We've already...

documented that you spend minimum $500 on bullshit. And then we had all those transfers out of $1,777. What you are saying, that statement that you said multiple times is objectively incorrect. Plus you're putting a little extra on everything, which is not an accurate debt payoff strategy, which means you still do have money. You don't have to spend

But then how do I pay my electric and how do I pay you? You absolutely you have the what the are you talking about? How did what I just say not make sense? I'm gonna lose my mind. I'm gonna lose my mind. I'm gonna make her break up with you right now. I'm gonna lose my mind. Are you serious? Do you seriously not comprehend what I've said?

You put a little extra towards these stats that is not benefiting you because it a little, but it's not actually making progress in a substantial way. That money could pay your energy for.

instead of putting more money on the cards, which actually just makes them go above the limit. All the extra money you put towards them, by the way, are completely negated because you spend on them anyway. So it doesn't really make any sense. There's really no purpose. You're just offsetting it. So you're not even putting anything extra to the credit cards anyway. But then it doesn't even matter because $1,777 went out. We don't know where the f*** that went though with all their accounts that went f***ing sell and then went f***ing down the line. And then guess what? So I don't know what you're talking about. How can you keep saying that?

Mathematically, it is proven right here. Take a that that is incorrect. Oh, that is going to ruin my day. Do not say what you just said for like the fifth time this episode because it is beyond objectively incorrect. So only pay the minimums on most. Can you turn her mic on real quick? Do you understand what if you comprehend what I said?

No. Oh, f*** me. Oh my gosh. I'm done. Turn the mic off. Oh my gosh. Where am I going wrong with my communication other than being loud? How? How? How? I... My producers are typing to me to break it down, but like... What? What am I... What is wrong? What is wrong? What am I doing? Okay, can I have the whiteboard? Maybe I need to draw this. Okay. Okay. Okay. Okay.

So here is the damn credit card balance that you have, okay? The balance! Here is your minimum monthly payment. A little line up here. Little line, okay? Now, guess what? You make a little progress, a little extra progress, you add an extra line. But it doesn't...

matter because then you spend this much. So you've completely offset. You've completely offset. In fact, you actually spend more because your balances have only gone up. Only gone up. You're above the limit because then you add interest on top of that. Okay, wonderful. But not only that, guess what? Oh, you need to pay the little electricity bill over here that's this? Well, at the same time, you spend the same going out to eat and other bulls**t.

So no, this, this first little sliver right here, this first sliver is not what is preventing you from paying your damn bills. It is the more balance that you're putting on there. It is the more interest that is accruing on there because you are putting a higher balance on there. It is your spending is for example, just a light little example. It is in every best case possible. You know,

Does that make more sense? Yeah. Does the drawing get us there? Yeah. It's not the electric bill. It's the bull. Kind of. It was more than that. But okay. If you walk away with that, that's a start. And you're the one who understands finances at all? Like you're the one that self-proclaimed I'm great with this stuff? I didn't say great. Oh, come on. But you know what you were thinking.

Oh, great. We're getting McDonald's and Audible on here. Go to the library. I gave a generous four. Yeah, but you talked up the producers. I know my numbers. I'm all good with my money. I know my budget. I know everything that is happening. Everything is all good. I'm this mathematically perfect person who knows everything about everything. I don't know about the extra...

$2,000 in spending. That really doesn't add up to me. And now I'm itching. I have to pee. There is something in my nose and my bladder is like... $450 in a checking account. Robinhood? You're putting money in Robinhood? In? And then I pulled it up later on when the finances got tough and I wasn't finding a job. Okay.

I hope that's the only... I hope that's not the only pullout you're doing because you guys cannot afford a kid right now. Zell. Zell. Ash. Capital. Ash. Cash. Apple. Oh my gosh. I'm losing it.

Too many of these. Zelle. Oh. Apple Cash. Well, no. So all of the Apple Cash things, Apple Cash is actually payments to the Apple Card. That's what those are because I first put it into Apple Cash because it processes. Well, in the spreadsheet, Apple Cash wasn't the big one. It was all the Zelles. So it's all about $25. Chick-fil-A. Affirm. We're affirming. So there's more. So there's more. There's hidden more. We're affirming. What are you affirming? We're affirming.

What possible world are you affirming? That was for my level three certification for armed security. I didn't have... That's your full-time job, right? Yeah. Yeah. And then I figured just bumping the credentials for better... What are you securing? Apartments. And it's... I mean, the job is just observing reports. Do you just like spin in circles and hope those like go out and just like cut people? That's the goal. I'm like...

Chick-fil-A. No, we already did that. Apple Cash, Apple Cash, Zelle, Zelle, Apple Cash, Apple Cash, Taco Bell, Zelle, Cash App, Hobby Lobby. We got to be doing arts and crafts when we can't afford fucking bills. That was for a date. Went inside. How long have you guys been dating? A year. Okay, she'll be fine. QT. You went inside. You got a little drink or something.

Isn't it so funny when our entire financial life is collapsing and where there's no chance of retirement and everything is... Isn't it humorous, guys? You've got to cope somehow. Nope. You've got to actually make progress and actually do something about it instead. $177 in savings. Wow. Millionaire in no time. I don't even have access to your Robinhood. Do you have money in there anymore? Nope. Pulled it all out. Yeah. Once...

I think I was struggling with those minimum payments, so I pulled that out to pay all the minimum. This is what you specifically have in your application. I don't have too much random spending. I don't go crazy on gas or food. That's not. I mean, they're usually spread out. But you don't have any money. All your card balances are at max or above max. A dollar, honestly, on going out to eat for you would be crazy. You don't understand how...

What? A dollar for going out to eat. Yes. All your things are above the fucking balances and you say you can't pay your damn utilities because of your minimum monthly payments. Are you kidding me? In what world can you go out to eat in that situation? In what world? And taking money from your parents. In what world do you get to be spoiled? What entitlement do you have? It's what keeps me working hard is just those small- No, it doesn't. No.

You know what? You're right. That's the first correct thing you said. It is what keeps you working hard because you have no other choice but to work hard because it's keeping you in the position where your credit cards are only maxed out. So you have to work hard. You don't get to take it easy because of those choices. So you are being right. You're correct. Now, how much did you apply for on a personal loan? Did you get approved? Is this a thing that's already happening?

Are you already destroying yourself? It's sitting in my account. How much? $13,400. So my plan... I could have connected you with the people our partners...

In our resources section, the relief app people, I could have got you connected with them for like debt negotiations. It's more extreme cases. It's not for everyone, but I could have got you connected with them. But instead you're doing a personal loan. Yeah. I've considered those debt negotiations. Some are bad. Some are good. It's just like anything out there. But again, with you, you take care of this with a personal loan and guess what? Without changing your behavior, balances just go up. That's what keeps me working hard.

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Yeah, so the plan with that was pay off the Best Buy one, which... I know what your plan was. You already said it. It's just obvious that it's not going to go the way you're planning. I've seen people on this show, the way...

No, actually. Okay. Two options. Two options. Okay. I will give you two options. You can do the personal loan, but close the other cards because you cannot be trusted to have access to that money. Okay. That's option one or option two. Pay off the personal loan with that money now and just close it and call it done. But you cannot be trusted with that money in your account from the personal loan and you cannot be trusted with the infinite money cards on the phone.

credit cards you've proven that because you have no availability available spending on any card more than a couple dollars you can't be trusted with it in any way so those are the two options are you willing to commit to one of those two options are you willing to commit to any of those two options or is ink more important ink's not more important i think are you willing to commit to one of those two options yes i could close some cards the ones that you transfer over no matter what

No matter the f*** what. Okay. Look. Just look at your history. We can get you to be a credit card person. We've had people on the show that have come on on the follow-ups channel and they've become credit card people. It's great. We can get you there. You're not. This would only create a more dangerous situation and more debt for you to pay off. Yeah. Okay? Yeah. Valid concern.

So what cards does that pay off? So you're putting what towards it? I wanted to start with the highest ones, which are Best Buy and Venmo. So Best Buy is gone. Venmo. Venmo is fully. Okay. So Best Buy and Venmo. And then after that, I was going to start hitting the Discover. No, no, no. What does the personal loan pay off? Fully those two. Okay. And then the majority of Discover. Majority of Discover. Discover brings it down to what? So I get paid on Friday. And with that combined, it should be zero. Okay. Okay. Okay.

Now, it's $13,000? What's the personal loan? $13,400. What is the minimum monthly payment? $340,000. Okay. So as we do your budget, we will now use that. So that's the option we're doing. What hits your account on a monthly basis? A little over $4,000. What's a little over $4,000? With the way that they're switching up. Should be $4,300. Okay. $4,300. Minimum monthly payment debts...

With everything readjusted now with the personal loan, your new debt payments total will be $1,301.96. What's your rent? Your portion. Including utilities or no? Well, just rent first. Sure, include utilities. Sure. Total thing. I believe it's $1,300 now. Your portion? Yeah, so our place is... Oh, good f***ing downgrade. Yeah, she has suggested the same.

Dude, you're in round rock. You do not need to be in a place as much. It's a nice place. Clara, what's your new rent? Dude, $1,600. Her place is nice. Is that single bed or double? Double. Yeah. This is insane. When is your lease up? In January 2018. Okay. Downgrade. Downgrade. Downgrade. So $1,300 with utilities is your half? With utilities, yeah. Is that including internet? Yeah. Yeah.

Okay. Downgrade. My gosh. Okay, your portion of the phone bill. $250. Oh, good. Please pay that off and switch to helium for $20 a month. Please. That's $240?

What is it? Is it you're not even wearing an Apple watch. What is it? I didn't want to wear an Apple watch because I get distracted, but I have I have the ultra. I have an iPad. I have an iPad Pro. I have the Galaxy S20. iPad Pro, MacBook Pro and MacBook Studio. Are you kidding me? It's pretty nice. Tech is my weakness. That number. It is mine, too. But you know, you don't use it.

You don't use the iPad, bro. Well, I use iPad all the time for everything. Really? I'm entertained. You don't use your MacBook. The MacBook I use. No, I use it when I'm on the go because my Mac Studio, since it's a desktop. Use your iPad. Choose one. Sell the other. The issue is iPad OS is kind of imperative. Cool. Sell your iPad. Buddy, make...

sacrifices it's financed how do i and then the financing requires the service on it so i'd i'd probably be upside down and then still be stuck paying the service and that's what you cover requires the service on it call them see what you can do see if you can trade in and get rid of it they might take a trade in we need a lower the 240 is insane i mean this is insane how much on room room gas gas um maybe 150 car insurance

$200. And that's including renter's insurance. I pay them bundled. TP fund, $100. You're allowed to contribute $300 to the grocery pub that you guys live together? Yeah, you do. $300, that's what you can do. Follow the meal plan. Adjust it to your needs in the budgeting program. Any ongoing healthcare expenses? This is co-pays. This is prescriptions. Currently, no. Okay. Gym? No, it's in the apartments. Yeah. Pets? Yeah, yes. Pet food?

Your portion? Let's say $760 a month, maybe. Okay, what are they? I have a Husky, and she has a Great Pyrenees. Okay, I only care about yours when we're talking about your money, so. A Husky. Cool. Doing $35 for pet insurance. Get it. It'll save you money. Some disagree with it, but it's literally saved me thousands of dollars. Anything else that needs to be in your budget? You kill it with rent, man.

You destroy this whole thing. But go ahead. Anything else that needs to be in your budget? And she makes less than you at a restaurant? Yeah, usually. How are your finances? They're okay. Are they worse than his or better? They're worse. No, that's not honest. You want to come on the show next week? No. $3,782 is what's needed to survive on a monthly basis. You have an extra $518. Conveniently, how much was spent on bulls**t?

Hey, net even. Oh, no, you spent more than that. Remember, $2,000 more. But just bullshit loan is what pushes you to the edge. But that extra $500 a month, boom, you start making, you 401k loan is paid off immediately in the first month. Set the rest aside. You can't get a one-month emergency fund. It will take us six months. Well, didn't you say the 401k should wait until after the cards? We're snowballing, so you stay motivated because this is going to be a long process.

Obviously, work your best to increase your income through getting a job that you actually want and a sales job at a place that you want. You're already working 70 hours a week, right? So you need to get that 40 hours a week, 50 hours a week somewhere, and then get an extra job. So we need to boost this to about $5,000 because that, all of a sudden, if you have an extra $1,000 instead of $500 that you can throw your debt, this is going to accelerate it because let's see. If we're talking a six-month emergency fund with what's your debt situation, minimum monthly payments after that would be...

Six-month emergency fund, probably we're going to call it $17,000. Okay. Plus $1,031 plus $1,803 plus $244. Wait, your 401k loan, was that paid off in the personal loan? They're not paid off. No, in the personal loan? No, no, I didn't. It was the Freedom Best Buy. No, it was Best Buy. Sorry, I just... Sorry, never mind. I just crossed that out. I confused myself. Okay, plus $500... $5,000 plus...

$5,390 for the Freedom. Oh my gosh. Plus $7,306 for the Costco. Plus the car at $15,676. Plus the $13,400 personal loan. So that brings us to you need to get a total of $62,330. Now that takes at the progress you're able to make.

Not taking into account any interest, but also not taking into account the extra payments you put towards it once you pay off a debt. 120 months. Yeah, that's 10 years.

You may as well go bankrupt at that point because it would be on your record for 10 years. It might be less stressful. So what's the solution to that? Because this cuts you down to bare bones. One, you downgrade. I need your portion of rent to be maxed out after utilities at $800 starting at the beginning of the year. Boom, that doubles the money you can throw towards the debt. That turns it from 10 years to five years. Is that not substantial? That's crazy. That's life-changing. Now, where do we go from there?

bringing an extra $500 a month in extra income after taxes through getting that different job and then even working a second job on top of that. And I think you'll do better than that. I do. But let's just say you do that. Actually, let's just say you add it by an extra $1,000. So now we have an extra $2,000 to throw. Okay, cool. Now it's down from 10 years to two and a half years.

To have a fully funded emergency fund in literally no debt. So that's, I think, what we have to do. You need to go get that job. Finally get a full-time job once more in the sales world, which I think you can. Add that certification, plus experience, plus a good resume, plus good interview skills. Okay, work on all that. Always easier said than done. Boom. Get that.

plus a part-time job on top of that. And maybe the security you can do part-time, who knows? So boom, take that, try to bring in $5,300 a month. You do that, plus downgrading your rent to your portion being no more than $800 a month in rent after utilities. You do that, you're out of debt and you have a fully funded emergency fund in two and a half years. And two and a half years is nothing. It goes by in a blink of an eye.

So that's what I would do. That's what I would do. You could go the lazy and also stressful and also expensive route of bankruptcy. I wouldn't. But if you want to keep your life flat, that's what I would do. Or you can continue doing what you're doing and you'll be in debt with no retirement by 65. That's where you're headed. With the way you're doing it, with balances only going up and borrowing against a 401k to pay off other debt, that's where you're going. So that's no longer an option if you're going to be a big boy. And I highly recommend it.

Yeah, good plan. What do you think? I need your true, honest thoughts on that. That's a lot. And it's going to take work. This is not an easy thing. You put yourself in a mess, it takes a bit to dig up. Got to build the ladder, my dude. It's probably easier than struggling the way I have been. I could probably do that. Could do that. Will you do it? Do you think you will? We have the follow-up channel. In a year from now, am I going to see almost half this debt paid off?

Half of it in a year. And a one-month emergency fund. And those cards closed that we talked about. Yeah, I can do that. Okay. Thank you. I hope so. We'll see you on the follow-up channel then. Let's get your Hammer Financial score now, and then we'll get you a Hammer Financial score in a year.

See the progress that you've made. Spending a budget, you overspend, so it's a 0 out of 10 automatically. Debt, you don't have collections, but your debt is really bad. Plus a 401k loan, can't give you any better than a 1 out of 10. Again, you thought you were a 4 out of 10? Okay. Emergency fund, the savings was nothing. 0 out of 10 was like $100. It was nothing. Retirement, you have a 401k loan, though it is about a fourth of your total equity position there, a third. Still not good. Hate that you're doing that. And for your age, oh, 25, yeah.

Can't give you any better than a 2 out of 10 for that. Real estate, not a part of the conversation yet. 0 out of 10, especially since you mentioned real estate at the beginning. Uh-uh. So... I mentioned real estate? What? Yeah, you're like, I needed to get a house. Oh, yeah. Hammer Financial Score rounded...

barely, you barely made the threshold, but rounded up one out of 10. So make sure to check out all the resources linked in the description below. We're going to bring your girlfriend in on camera for the post show. We're going to talk about some extra drama, some things going on, bringing the producers who know everything about your life that I don't know, and it's going to be a good conversation. So make sure to stick around for the post show. You can join that link in the description below and get the budget and an investing program for 15% off bundled together. See you in the post show.

Today on the Financial Audit Post Show. Did you know his situation is as we have discovered today? No. What did you think it was? I thought it was a lot better. I was going to have him help me. But I didn't know about like that he was over limit. He gets on to me. So it's. What is your guys' future together? To watch the Financial Audit Post Show, click the join button below.