Scumbag Husband Destroys Marriage With Secret Debt | Financial Audit
01:40:13 Share

Behind those cozy nights at home, thousands of employees at BP go to work every day. People producing more U.S. natural gas. People building grid-scale solar capacity. People turning landfill waste gas into pipeline-quality renewable natural gas. And people delivering all of that power where it's needed. They're part of the more than 300,000 jobs BP supports across the country. Learn more at BP.com slash investing in America.

To watch episodes of Financial Audit a week earlier, check us out on YouTube. How much do you owe? Pretty sure it's like $1,000 to one. Who told that? Yeah. For f*** sake. Are you serious? Yeah. You didn't know this? That's an insane debt. I wasn't really thinking about it. Thoughts, comments, concerns? Hi, my name is Jenna. I'm 36. Hi, I'm Mark. I'm 36 and we're from San Antonio. And this is Financial Audit.

You are real Southern, aren't you? Yes. You are just full Southern. That was Kentucky. Okay. Well, I love having a couple on. This is super exciting. It's not every day we get it. So let's just start our household out. You know, you're directly in front of me. So Jenna, what do you do for a living, San Antonio? I work remotely. I'm in HR. Okay. How much do you make? $50,000.

Cool. And what about you? What do you do? I'm a mechanic working on stuff. How much do you make? $31.50 an hour. Okay. Oh, an hour. Okay, cool. So I don't know yet.

What do you mean you don't know yet? Why? Is this just started? Yeah. You have paid time off? No. No paid time off? Mm-mm. So let's say you work, what are you going to say, 49 weeks a year, 50 weeks a year? If we average this out, 40 hours a week? I don't know. Well, they're giving us two weeks off at the end of the year. Oh, okay. Usually that's something. But it's not paid? No, it's paid. Yeah, this time. That's paid. Okay. Are we thinking 40 hours a week?

He works overtime a lot. Yeah. So for the most part, he's working overtime. Yeah, I work 55 hours.

About $5,500. How long have you been doing this job? Like six months. Nice. Okay. We should kind of know what's coming in, right? What do you think average... Well, I mean, as far as like weekly, I mean, that's about $1,500 a week. It's a week. That hits your account? Yes. Okay. You get paid weekly? Yeah. Gotcha. So pretty chill. If we average that out, 52 weeks, you know, $70,000. Okay. Net. Not bad at all. So about $65,000. And my bring home...

after taxes and insurance and 401k and all those things is 31 and some change a month cool so we are looking at a household there's good of 9600 what's this more uh disability for what it's veteran disability oh you served okay what did you do i was a mechanic there too okay cool i worked on tanks or branch the army very cool and what comes in monthly for that

I think it's like 2,300. Okay. Now, basically, I will say this. Every single veteran that has ever been on this show has disabilities. This is very common. Can I ask what? Some is physical and the rest of it is PTSD. Okay.

So total, we have 11,900 that comes in on a monthly basis. And then I work for my dad. Which is confusing because again, this is all sounding so good so far. I'm so happy. What are we? We're five minutes in. That's wonderful. Look at that guys. We're having such a good time. This is so good. We're making so much money.

I have no idea how we're in the like this is a fat stack you but we did a fat stack week where we had like the most paperwork in the show history you belong in that week so all this income that is coming in I'm like how are we in this so what's this extra income so I work for my dad as well I do his books and that's paid through an LLC so that's 1099 so that's $400 a week okay setting anything aside for taxes from that no have you ever paid taxes on that

I have not prepaid taxes on this. No, have you ever paid taxes on that? No. So this is new as well. Okay. Our life drastically changed recently. Why, what? So he had a very high-paying job and lost it in March. We have a high-paying job. Now what did we consider high-paying? Very high-paying. He was like bringing home $160,000.

I mean, that's delicious, but I'm going to be – I know it sucks to take a step back. I really do. You do still make very good income. Yes, yes, yes. Especially in kind of the cheaper major city of Texas, by the way. Yes, yes. Out of all the major cities, we're looking at the cheaper part. But okay. I mean, if you're trying to sustain your lifestyle and what happened when you're making $30,000 more because you're probably – you're still probably making pretty darn close to $100,000 before taxes. Mm-hmm.

So, you know, net, you know, maybe like $20,000 different. Yeah, if we...

Have you guys just not touched your lifestyles? The lifestyle just like... We eat very good. No, it's changed. It's just we're taking care of stuff that when we were still in that lifestyle, just kind of stupid. A lot of our debt is like the promotional stuff, right? So we're... Who falls for this? Who falls for the promotional stuff? We have never had to pay for the...

Deferred interest stuff. We've always made it... Okay, well, that's a minimum, to be clear. Yeah. That's a very basic minimum. Yeah. So... But, yeah, we have a lot of those. We have a lot of those promotion... Yeah, but we also have two car payments added up are basically the same price as your f***ing mortgage. Yes. Which is the most insane thing I've ever seen in the history of today. Yeah. So...

I don't think it's just the 0% cards that we're sometimes good with, but we continue to rack up forever. But the promotional things, who's signing up for this? Is it both of you? Is there usually one cause here? Some of them. Maybe if it's just medical or something like that. Medical? The big one is care credit that we have. And that's medical? Yes. So he had his first back surgery at 25. Wow, 25? Yeah. Wow.

And they, the VA wants to do like invasive surgery, like rods and everything. And I'm like, you're 36. We're not doing that. So we looked into QC kinetic and we did that. It is very expensive. Yeah.

Yeah, but why are you also against the surgery that the doctors are coming out? Mobility. It demobilizes you? Permanently or temporarily? No, you're not bending over. You're not turning. For how long? Oh, that's forever. Yeah.

Would that make it hard for your job? Impossible for his job. Yeah, that's not happening. Okay, so an extra $400 comes in a week? Yes. But you haven't set anything aside for taxes? No. I mean, a tax bill will come. Yes, and I have, my last job was a $1099 job. We're talking an extra $20,800 a year. Yeah. So even still, I mean, tax men might come, and tax men might be like, you owe an extra $6,000. Hmm.

And I do put that into an LLC. Wait, did I... Was there, like, substantial savings? I don't remember substantial savings. No, there's no savings because we went through everything when he lost his job. So what happens when this tax bill comes due? Yeah. Yeah. We're not prepared for that. Okay. Okay.

But what I will include to your income, I'm going to set the 30% aside. What I will allow is 280 coming in a week because you need to set 30% of that aside, okay? Okay. That is a basic minimum. You guys do not touch that money until 30% of it is set aside. Okay. At a minimum. Obviously, for this whole year. When did you start? That was in July, probably. Okay. So, for these last six months, I mean, you're going to have to write a check. Yeah. Now, maybe...

One of your jobs, do you guys file jointly? Yes. Okay, maybe one of your jobs, maybe you're contributing a little too much to your tax file, and then that'll make the burden a little less. He does take some out of his extra. Extra? Yeah. Why would you want to do extra? But the previous job, he was taking extra out. But what about this? No. Not with this one. So like standard deduction and then you're...

Yeah, that's it. Yeah, and then we do write a lot of stuff off with our taxes. Hold on. Yeah. But the only thing that's your business is...

The LLC. So what are you writing off? And so business are we run our business as a consulting? What's your business? So what business are you talking about? So I have an LLC. And yes, yes, yes. But you but that's the vast minority of your income. That's so you're both. I mean, kind of. Yeah. Yeah. Yeah.

So a little taste of the audit happens? We're putting... So he does side jobs too on the side. So anything that is paid in addition to our regular W-2s is put into the LLC.

Okay, well, an extra $14,560 a year after you set aside money for taxes because you just don't want to f*** yourself. Why f*** yourself when you don't have to f*** yourself? So we're bringing in an extra $1,213. Okay? Mm-hmm. Good, which again, good money. I'm happy, guys. Other than that little tax thing we talked about so far, positive story. Great. The paperwork in front of me is not a positive story. So we know how much comes in now after setting aside money for taxes. How much do you think was spent in the most recent month? What was spent?

Money going out. I don't really know. I'm sure we're over. What do you think? You had a guess. You feel your lifestyle. And this includes debt payments as well. Including bills. Everything. Like what goes out. I mean, I'd probably say $12,000. Okay, so you'd say less than the $13,000 that comes in? What would you say? I know our bills alone is over $10,000.

Just minimum bills? Bills. For good. Okay. Just like, why would we put ourselves in that position, guys? Okay. Okay. How much? I would say we probably spent $12,000 total. $12,000, $12,000. $12,000, $12,000. $12,000, $13,000. $16,848.34. It's not even close, guys. This is a substantial, substantial difference. $13,113 comes in. $16,848.

Point three, four goes out. It's an extra 22% of spending. An extra 22% spending. Okay. All that, by the way, well, we're looking at $610,000 of debt. Yeah. So we're spending 22% more than comes in on a great income. Well, we have multi hundreds of thousands of dollars of debt.

What is going on, guys? I know we had the little job loss thing, but with where we are today, what is going on? What am I looking at? Why are we self-confessed? Where your brain is, I would love to know where you think you are because I obviously don't know your spending. It wasn't even close. So what is going on from your all brains? I mean, it could just be miscommunicating, too, as far as what we're talking about.

Or as far as money or even getting spent. What do you mean miscommunicating? What's the communicating? How does it look? Well, I don't know. It's not being talked about, you know, if it is ordering stuff or anything like that. What's not being talked about? Like if you order something. He's talking about my spending.

Oh, like if she buys something, it's just not even tough. Yeah. Like we are not like one of those like where we like, hey, can I purchase this? It's not even a hey permission for every single purchase. It's more of a understanding where money is going, sitting down, looking at the budget, understanding where the money went and discuss where it went and what we need to address for the future month. It's not an individual purchase. Wait, how can you not have that? You've never had. How long have you guys been married?

15 years. Good. Do we have any kids? One. Age? 11. Okay. How are we setting up for their future right now? With this, that, not very much. Do they have any kind of fund? Not that you need to, but do they have a college fund? A very small one. What are we talking very small? What are we saying? It may have a couple grand. Yeah. Okay. Um,

I think we thought more of his long-term thoughts as far as the investments, as far as property, the house and stuff like that. The house still has a large mortgage. And even still, as they go through things, as...

If we continue right now, again, debt is going up. So it's how we're able to sustain things. But we have seen throughout the history of humanity and debt and spending. And even on this show, what we do, we overspend. You get to those limits. You hit those limits. And all of a sudden, payments start going through. Sometimes that ends up being mortgage. Maybe take that mortgage payment to put it on the back of your mortgage. But eventually, that option starts to run out. Then you get a foreclosure notice. Then, uh-oh, kid.

No more house, no more asset to be able to pass down if that is the main goal of that. So ourselves in all these other other categories could be preventing us from being able to pass on what we actually want to. And of course, that 2000 is going to go to like 4000 by the time they go to college if it's properly invested. So.

they have a quarter of a semester covered, you know, unless she's going to be like a doctor or a lawyer or something where she has to have a college degree. She doesn't have to go to college. No. And we never really thought about it as far as college. I didn't, I mean, I went, okay. It's just a setup account for them in general. Yeah. Okay. For her in general. Yes. Because like trade school, like we are all about like the trades, right? Sure. Because whatever you want,

Well, what does she want? She's 11. Right. She's 11. She still wants to be a singer. Sure. Okay. Well, even still, this is whatever you want to set up for. Not that you are required to, but you know, most wants to set up for something. Yeah. And really putting that back in, you guys have such a strong income where you could be setting up substantially if you really wanted to, but you can't, if we're spending 22% more. Right. Then comes in our own very strong. Cause net, you guys are still looking. I mean,

13,113 times that by 12 net, we're bringing in 157,000. That's insane. That's incredible. That's delicious. I would have taken that every single year of my life and been living on the top of the world. That's incredible. Do we not realize how incredible it is? That's like incredible.

I mean, we know it's double the median. Yeah. Your net is double the median household income in the United States. Your net is double the median gross household income.

And I guess it's just hard for me to fathom. Like, I mean, like, I understand, like, we are definitely spending more way more than we should. It's mind blowing to me how people are surviving on, you know, 30,000, 40,000. The thing is, people can survive. Yeah. If they track their shit.

It gets hard. It gets scrappy. They take sacrifices. Absolutely. I'm not even saying it's like, yay, yay, yay, great living. I'm not even saying that. But people are able to survive. Right. Because they actually sacrifice in the budget. So why have you guys not communicated at all? Why have we had these conversations in a decade and a half? Running a small business? I get it. Paying bills can feel like death.

Endless paperwork, late fees. I've been there. But that all changed when I found the sponsor of today's video, Melio, a tool that takes the pain out of paying vendors. What really sold me? You can even use your credit card to pay vendors who don't accept credit cards for a 2.9% fee. And that means maximizing cash flow, grabbing rewards, and avoiding those nasty late

fees and the setup it's super easy you can pay bills schedule payments and even send payments internationally all from your phone or desktop melio syncs seamlessly with quickbooks so you're not wasting time on double data entry need your vendor paid right now melio offers same day ach and instant transfers and the best part your vendor doesn't even have to sign up to get paid if you're tired of payment headaches check out go.melio.com slash caleb h24 or check out

the link in the description below and start using Melio's powerful tools to boost efficiency, gain more financial control and peace of mind when it comes to your finances. Trust me, it'll change the way you handle your business payments. Start for free now. Well, I think it's more, I mean, most of my jobs I've been gone or I'm on the road a lot. Okay. And then, so I just kind of left it with her. And then, cause I transfer, I transfer money out that, you know, what I spend or whatever, whatever the weekly deal is.

And then after that, I don't really... Do you have no desire to be informed of your financial position of the household? Well, I mean, I do. It was just a lot going on at those times. Yeah. When things get bad or things get tight. How do you even know when things are getting bad or tight without looking and being... Well, then, because then she'll come and tell me like, oh, shit. Who knows? So how do you manage it? He puts it in your hand. So what does it look like from your end? Um...

I pay the bills and then what's left is like our surviving money at this point. But there's nothing left. There's nothing left now. And so in March, whenever he lost his job, that's whenever he actually started seeing the numbers and seeing what was going out and what we needed to bring in in order to just keep everything afloat and not damage our credit and not lose anything and, um,

So whenever I run out of robbing Peter to pay Paul, whenever I run out of Peter to rob, then I'm like, hey, things are really hard. I need another opinion. I need another set of eyes. What are we going to do? You guys need to be in this together. Right.

And that just means like even if you are busy on the road, you got to step in and have a little call. I'm literally just talking once a month even for a couple hours. Really just for a couple months. Obviously, we're going to put you guys through all our classes. Take them together. Go through the quizzes together. Learn how to budget together. Learn how to invest together. Learn how to pay off debt together. You guys get them for free. Do them. They're all 15% off for you all right now bundled together. But you guys get them for free.

Please take advantage of them because we have people that come on the follow-up channel, the financial audit follow-up channel all the time. And even if people have made progress or haven't made progress, oh, no one takes them who get them for free because you need to have the drive. And the people that purchase them, they have the drive to take it. But I don't know. Some of you aren't taking it. It's becoming really disappointing. But over 10,000 people have purchased and taken them. So –

So please take them. Do this together. You guys are a partnership. Self-assessed. We're about to jump into the first, the best buy card, but self-assessed. I'm going to go three, two, one, go. And on go, I want you guys to give me at the exact same time where you think your household financial score is. Zero being the absolute worst that exists in the entire world. Ten being the absolute best that exists in the entire world. Three, two, one. Three. Okay, pretty close. Two to three. Three.

You were just, I don't have to endlessly borrow Paul, Peter, those biblical names. Our only saving grace, I feel like, is our house.

Sure. So you think that's boosting you there? Okay. A little bit. And it actually might. I would be more inclined to go with your two because of the real estate, but everything else is really taking it down. We will see where it is. So question, because you think that it's a two because of the real estate, is that because of the type of real estate that we have and you feel like it's not a necessity? No.

I don't know what kind of real estate you have. I'm just assuming if you're zero in four of the five categories, like even if you have a great real estate score, it's only going to – Yeah, because again, you're saying that you're endlessly borrowing until you can no longer borrow, and we're getting closer to no longer borrow. So I don't think –

So it's not whenever I say robbing Peter to pay Paul, I'm not taking out more loans to pay other. I know, but these balances are going up. Like the Best Buy, for example, 809 to 2,872. So it'll be pushing one. So that is actually his mom's washer machine that we just put on there. What? Why would you put your mom's on there? What's happening? We have a lot of like...

As you like to call it, incest debt. Do I call it that? Yes, you have. I say a lot of weird things. I have such a way with the English language. I don't even know what I say half the time. So we have 10 acres. And my sister became a single mom a couple years ago. And she was living in Colorado by herself. And we said, just move back. So we took out a construction loan to convert a...

storage building into a tiny home for her and we put it on the front of our property. She couldn't crash off bed?

No. 100 rooms is in your guys' house. What? I have, we have a three bedroom house and at the time his mom was still living with us. But why are we buying a washing machine for the mom? So now mom lives back in Texas and she just moved on to our property. I think that was more of putting on the card. I'm not real sure. I didn't even know that we did that. You didn't even know? No. Don't give me that shit. I didn't know it was on the card. Well, why didn't he know? Why aren't we talking? He does know. Mm-hmm.

I'm sorry. Nope. It is Mark. His name is Mark. Mark also has Mark.

Mark also has a really bad habit of halfway being invested in these conversations because it's a financial conversation. That's a heavy. So because he doesn't have that interest of like being involved in this, whenever we talk about things like this, it's like or even if he's just like in the room while his mom and I are having this conversation, it's like a half like it's

it's in one of your is that even a choice how can you well i don't yeah i mean because you said the same thing sometimes i'm sure but but i don't remember um well i don't remember that either but do you have the choice to only be half invested in these conversations for your household though no so why would you say you're half invested what does this look like from your end it's just been easier it's just yeah it's been easier so i mean it's kind of lazy on me but

Like I said, some of that stuff I don't remember. You guys are drowning. We really just don't have the ability to be lazy. We don't pay for that. She pays for it. Yeah, but it's on your credit and she has to pay you. So she goes online directly and pays you. Okay, what happens if... Then she has a life insurance policy that is written to him. Okay. Now if... So risky. Could miss a payment. Dings your score. Yeah. Yeah.

Now, if my dad, who pays the loan for my sister, goes, then we're screwed. Is that loan here? Yes. Oh, for f**k's sake. Well, this is all a big mess. Okay, so this Best Buy, which I guess is mom. Well, first of all, there's already $809 on there. So was that all mom as well? No, no, no. That was... I don't even... Honestly, I don't even know what that is. So we're at $2,872.54. There is interest accruing $2.55. I'm sure that's the older pages. Again...

You talked about at the beginning how we're... That way there's interest on it? Oh, yeah. And there it is. Because you talked about at the beginning how, oh, we're interest free. Well, I've already paid the...

Okay. I need to look at it. Yeah. You need to like look at the accounts once a month. Yeah. At a minimum. It's probably like a $5 balance. The order that these episodes come out are weird, but I literally just filmed an episode yesterday with one half of a relationship. And they also thought that like no interest was accruing. He was missing payments and interest was accruing. Yeah. You just literally have to look. Yeah. It's as simple as look, guys.

You are the one in charge of the finances, whatever. That is the relationship that you guys and you're half into the finance. Okay. Okay. We can throw these things around. Sure. Sure. Sure. Right. Why don't you look at the very least as the one who has been determined by both of you to look at the finances? I'm usually pretty good about looking. Okay. But you didn't even know interest was accruing on this card. Yeah. Yeah.

How much interest is accruing? $2.55. It's probably the previous balance, not the new stuff. Your new purchase was probably 0%, but that past stuff is accruing interest. Got it. I'm assuming. Let's take a look at it. Again, now your minimum repayment, and these are going to get chunky. We're starting with the minimum one, but we're going to add like $1,000 billion of them. $32.38. We're going to be here until tomorrow morning probably. Okay. Yeah, $21 of interest this year so far. So interest is accruing on a monthly basis.

All year so far. Okay. Yeah. And that interest that is accruing is on $145. Something that we could wipe out like that with your income. Yeah. Like that. And normally like. Normally this has been a year. Yeah. Yeah. I don't know. No, no, no, no. There's no normal. It's been a year. Yeah. Like normally would happen within this year. We are the second to last month of the year. Yeah. No. I need to find out what it is.

Is it still accruing? Yes. Every month, $2.55, and you've accrued this year $21.97. Is that the biggest thing in the world in terms of monetary impact to you? Not even close. But it shows, it demonstrates that you do not know a single thing about your finances, even though you are the one that has been self-crowned and crowned by him to be in charge of the finances. But we didn't even know all year interest was growing on a card. When taking a look at a statement, it takes five seconds.

That top of the statement takes five seconds. Honestly, I don't even look at statements. I just go online and look at the promotional purchase thing. So that's where I'm going to start. And look where that led us. Okay. I mean, one of the interest-free things is going to end in literally... Oh, two of them are going to end in basically a month. Yeah. Okay. The deferred interest on those so far are approaching $350. Yes. So we have to pay a total of...

About $350 as well is what the balance is. About the same amount of interest is accrued as the balance. So it'll double if we don't pay in a month and a half.

We are spending 22% more than we make. Sure, you could open up a new debt or you could transfer this to another debt. There are things like that and that might be what you do. But if worse came to worse, in what world would you guys be able to pay this with your current lifestyle? None. None. None. And how you guys have made it so far, I have no idea. Also, you had fees of $2 this year so far on this card.

monetary impact to you? No, but just more demonstration of you don't know what's going on. Also, I forgot to say, guys, if you want your Hammer Financial Score, it's fun. It's free. Link in the description below. Check it out. And then come on down here to Austin, Texas. Are you guys having fun so far? Getting a little yell, a little verbal punching, but, you know, we get their, you know, we get their permission for it. And then you guys get to come hang out with Lindsay and Jake. They'll take care of you. They're lovely people, aren't they? They are.

Oh, yeah, yeah, yeah. Well, I guess you probably didn't really see Jake yet. But Lindsay, she's great. And then Jake exists as well. So, yeah, go to calebhammer.com slash apply. Come hang out with us. Okay. And then two more deferred, and that's going to go for one until 2026, one until mid next year. Okay. Okay.

They're all sitting at about 29% interest when they hit, including the one that is already hitting. Huh? I said, yeah. Yeah. Okay. Plus, because I was saying plus the deferred. Because it like... Yeah. Oh, yeah. Okay. American Express Gold Card. How do you guys...

these or look at these cards because there are many accounts, many cards. How are we doing them together and what does this look like? So, like, what do you mean? Like, what is it? Is there like a my card, a your card, an our card? We use them all together. So you all have like access. Okay. Yeah. Okay. American gold card.

On here, huge balance too. Yeah, that one. Balances are getting crazy. $3,107.91. And then a minimum of the payment of $99. Again, stacking, stacking quick. So that one is the one that before he lost his job, we were using that to pay our bills and then pay the full balance. And we were paying the full balance every single month religiously. And then-

Yeah, but you should have been able to do that for about six more months because you would have had a six-month emergency fund like adults. Yeah. So where was our emergency fund? We had about a three-month emergency fund. And? And it got emergencied. And then you had to start using this card without being able to pay it back? No, no, no. We... No. No.

That card was. Other cards? No, we didn't use other cards. We had a job. How long were you in between no job and job? March, April. Well, March was like the middle of March. Yeah, I started in May. April, May. So two months. Okay. So that six-month emergency fund covered you and then probably a little bit of unemployment? He got no unemployment. No.

No. How long were you in your previous job? I did some side work, too, though, that kind of helped us feed that. And then I started my job in April. Well, guess what, guys? Interest is accruing on this. Did you know that? Yes, I do know that. Then why are we allowing this? Why are we...

in this instead of what you could do is pay it off if we did not have those. Because I was paying, I was focusing on my care credit to get that paid before the promotional balance hit. Of care credit? Yes. When does that end? That, November 22nd. Okay, in a week. Less than a week. And I think,

I think it was like $300. No, no, no. I'm sorry. This should be nothing for you guys. It's not an insignificant amount of money, but for you guys, it's nothing. $300, $600, $700, $800. Still easy for you guys. We have been paying like $900 and something dollars a month for that card to get it. Sense? Well, it was his back.

And then. Why are you guys waiting until the last minute? Again, you guys had the ability. We were paying like our regular payment, like to the non or the promotional purchase payment. Right. Yeah. Divided by $900 a month. You guys could have done more if you wanted to. And then we, whenever he lost his job, then we paid like the minimum card payment on it while he lost his job. And then now we were like catching up. Um,

Okay. And there are, and then like we use it for the vet and for the dentist because then he had a crown and then my daughter had cavities. Okay. Okay. All right. Care credit's a big one. Okay. Interest charge this year, Safaria, and that's at 10%. Yes. Yes.

Low for credit cards, but not good. Opposite of low, what the f*** for a Bronco that has you written all over it? Bronco man? Okay. Well, I mean. Well, you're apparently obsessed with getting an insane debt. Well, the truck would have put us in debt too. What? So I got rid of a truck and a motorcycle and got the Bronco.

What were those? Because this isn't even close to good compared to most people that come on this show. Come on. This balance is crazy. Look at this, guys. We're at $66,295.28. And that's considered good after a truck and a motorcycle? What were we looking at before? No, it was still bad, but it was just how much money we were putting into the old truck.

The truck was a 2006. It had like 300,000 miles on it. And we needed to put. We already just put like 10 grand in it. You just got this car. No, no, no. The old truck. No, you just got this car. We just got that. This was. Okay. This was like. The payment's over a thousand dollars a month. Thousand dollars a month for a Ford Bronco. Everyone has one. They're every other car. Everybody's got a Tesla too. Yeah. And it goes faster than yours. Yeah.

Yeah. People will hate me for that in the comment section, by the way. Yeah. What? So to us, this was kind of like a saving grace. And I know that that sounds awful. $2,000 a month. Go ahead. So the motorcycle, we were spending over $700 a month for it to sit in the shop and collect dust. Right? Get rid of it. This doesn't have to...

This wasn't equal. I don't understand. We tried selling it. You went from two to one. The motorcycle's inconsequential. Black Friday's starting today.

All the way through December 6th, you get our entire educational class bundle for 33% off. You also get 20% off everything else, including merchandise. I've even added four new sections into our budgeting class, which is cementing it as the best budgeting program online. There's a reason why we have the lowest refund rate in the entire industry. Literally over 10,000 people have taken our educational services and they have changed completely.

their lives. And as an added bonus for this Black Friday couple weeks sale, the first 250 people to purchase the bundle will get access to a private live Q&A where I go over my entire financial strategies. Change your life today, 33% off, 20% off, depends on what you get. Check it out, links in the description below. - So we got rid of the 2006 truck and the motorcycle to try to, we used the truck to try to eat up some of the negative equity from the motorcycle.

And we traded in to get this because the truck was going to cost. We'd already put 10 grand into the truck at that point. Cause you could have got a $10,000 car. How, what would we have done with the negative equity?

Well, how much was that in terms of equity? We were negative almost 14. Yeah, like 13 and some more. Yeah. Yeah. I mean, it was a $30,000 bike. Again, I would rather have a $24,000 loan than a $66,000. Of course, you would be dramatically negative. But what's the value of this right now? Do we know? Six months later? I don't know what the value is. I have not even looked because I know that we're upside down on it. Do we have it by chance? The equity, the value of this car?

I know we're upside down on it because sticker price, we paid over what the sticker price is on it. Really? Yes. What was the sticker? I think the stickers on those are like 64. I mean, there's so many different kind of versions you can get, but I was interested in a Bronco. I get it. They're so nice.

Yeah, I mean, they're okay. It's a very smooth ride. You know what's not nice? Over 8% interest rate. That's crazy. When does this mature? How long is this? How long is this loan? Is it a five-year loan? Oh, for fuck's sake. Come on. Guys.

You're not even to my truck yet. No, I'm not. And I've seen it and I know how bad it is. This whole thing is crazy. Again, both of your car payments combined are basically, they're a mortgage for depreciating assets that require money to put into it to keep it going, keep it alive. Why does it get laid off again, man?

What happens if more medical things happen and you can't work? What if you're required to get that surgery? Then you can't do the things anymore. And you guys have multi-thousands of dollars in car payments. What do we do? What a risky position to put ourselves in, especially with an 11-year-old kid relying on us. There is no reason to put our household in such a risky position. You did not need a new car.

So we were told that we could only roll that much negative equity into a new car, that they would not do it into a used car. Yeah, but maybe we could have borrowed a personal loan to take care of the negative equity in the other car. There's options that we can talk about. Yeah.

You were probably only talking to the dealers. I didn't think about a personal loan. Were we only talking to the car dealers about this? Yeah. Well, they're not going to have your best interest at heart. We weren't really thinking about taking a smaller loan to pay off whatever the negative is and figures. Which I think we could have.

The way you guys were considering this, why didn't we do that instead of... No, we didn't think about it on the move. But I don't think that it would have been possible because of our other personal loans. Because I have the... What's your credit score?

I mean, you qualified debt to income ratio for a $66,000 car loan. So he's like a seven, seven, something. I think I'm sure we could get it. It may have been a loan, but $12,000, we could have worked the payoff really quick instead of all of a sudden not having a thousand dollar a month payment on over 8% interest, $66,295 depreciating asset. Okay. I just don't understand. This is such a beyond want.

I'm not saying you should have kept that car. I'm not saying you should have kept putting money in that truck. Actually, I would have said no. That does not equal this. That does not equal required to do this. We also felt very rushed in what... Why? In our decision. Because he...

he had lost his job and then was, wait, was this while the job was lost? This was no, this was right after he went back to work. So at his old job, he had a work truck. So that's why the old truck just sat there. He didn't need it. And so then whenever he lost his job, lost the work truck, then it started the new job. He was having to drive the old truck to and from work. And, um,

It was just, it was not reliable anymore. And so we were like, let's play a game. Let's play a game. The game is called guess the value of this car. What would you guess? You're pretty close. 46,000. That's crazy. We're already under 20. Yep.

We f***ed ourselves with this. Yeah. We really f***ed ourselves with this. We knew going into this that. With a reminder, no savings. Yeah. We're allowing ourselves to have this kind of debt and we don't have any savings? For good f***. What a scary situation to put our household in for no reason. It was honestly a, let's be honest, incredibly immature purchase. That was a childish purchase. You wanted it and that's what you got. They got what you wanted.

It's as American as it gets. What I already said possibly, you know, that personal loan to cover the negative that you're in that other one, then a $10,000 loan on a $10,000 car that you got permission to take to a dealership to get the confirmation that this is going to last for a couple to a few years safely, reliably without you putting a lot of money into it. Well, I wouldn't have taken it to a dealership. I would have just said, hey, baby, this is car trouble. It's okay to get a second opinion though, isn't it? Yeah, sometimes. Yeah.

I mean, I don't know. Listen, if you're confident enough, that's great, but look where it got us. Yeah. Okay. Well, let's keep going. Synchrony. Great. That's always great. Oh, this is a care credit? Mm-hmm. You did make a decent payment to it, but the balance is higher than you... The balance is $7,242. Mm-hmm.

Wait, why did I think it was lower? Okay, that's huge. Yeah. That's ridiculous. Okay. I think now it's like $6,000. I'm going to go off the balance here because that's where we have your full situation. $7,242 with this minimum monthly payment. Come on, add this to your last one. $236. $236. Deferred interest until...

Oh, you were telling me about the balance that goes to in a month, two months. That's at 300. Okay. Okay. If you have fees like crazy, fees this year, losing a lot of money. Some of the chunky ones are ending in 2025. Then we have one 2026. It's aggressive. We got to get aggressive. Got to get aggressive. It's deferred interest. You guys have gotten lucky so far with your spending habits. How much money is going places? It's

We got to get lucky. Oh, this Disney card is accruing a lot of interest. Yes. So what is up with this? Why do we have $2,410 to Disney? It's just a chase card. It's like a generic. Sure. What's going on? Groceries, gas. Why is it going on debt? It's accruing interest. Why? Why are we paying interest on groceries, guys? $41.68 of interest.

Any answer? I wasn't really sure about that. Come on, guys. We were even using that card, but... I don't know the last time we used it. Yeah, because I don't have any credit card. Well, like, I don't carry any. I don't really use any. So this is all you? Well, I guess it's however she's moving something. But I... Yeah, I don't... But you're the one that's in charge of the finances. Yeah.

So what is going on here? Anything related to the house and anything? Hold on. If he was in charge of the finances, would this be more mature looking? Yeah, I'm not. I mean, well, I don't know. I mean, it probably could be. Because he's done taquitos on credit cards before. That's a long time ago. Okay. I don't know. You guys are not credit card people. I just wouldn't have credit cards. You're not utilizing them, correct? If we have a properly funded emergency fund, what do we need of that care credit? Hmm.

We wouldn't need to have this debt. We wouldn't be freaking out where we are today. We wouldn't be spending 22% higher than our income today. You guys are not credit card people. They're dangerous for you. They're not a tool. They're making money off of you. I would not have these if I were you guys. Oh, guys, guess what? You own $75 in rewards. You've lost $430 in interest.

I don't even look at the rewards, honestly. And what's the point? Why have a credit card? No, why have a credit card? For emergency purposes. That's not emergencies. Emergency fund. Emergency fund. Guys, six months of living expenses. Whatever is required to survive. Six months stacked up. Put in a savings account. You cannot touch. Doesn't go to fund. Come on.

Come on. We don't do credit card emergencies. You guys are too far into life for that. You are well into adulthood. You have a child. You guys own property. You guys are doing all these things, have great jobs. We are not in the place of using credit cards for emergencies. That is not your guys' future. Come on. Do we even know about emergency funds?

I mean, I thought it was supposed to be a three-month emergency fund. I didn't realize that. That was the original, but we see that three months doesn't always get us places. So that's why I say six. I don't even accept that three anymore. But okay, you heard that. You've heard of three. Why are we doing credit cards for emergencies then? You guys make money, good money. Yeah, they're just being stupid and not really paying attention to what we're doing. That's my sister's.

But why do I have it? Because it's in my name. So are the cabinets that are in her house and she makes the payment to that. Wait, into whose house? Did I mishear that? In her tiny house. The tiny house that we put in the front of the property. Does she still live there? No. Yes. Is she going to live there forever? I'm assuming. I don't know. Whatever she chooses. Is it like right next to you guys? No, it's like in the front of the property.

How many acres? Ten. Okay. It's just dust down in San Antonio? Yeah. We got some mesquite tree. Yeah. We got one oak tree. And she lives right next to the one oak tree on the property. Oh, good for her. She'd chop it down to build her cabinets. Okay, so Ikea. Yeah. That's all I'm going to say. Yeah. We're at... Oh, shoot. Was it just... No. Okay, so $1,668.22. Okay.

the $48 minimum fee payment. And she is paying that on the site. She paying you guys. She puts money into the account that it auto drafts. And again, what if, yeah, uh-huh. Brand new deck. Congratulations. Oh, it's deferred until when the Ikea is not deferred. That must be something else. Cause that is not another account. That's not, is this, is this, uh, Ikea is it's got interest.

Oh, it's a crew in interest. Yes. Sorry, that's what I was seeing. Okay. And that's okay. We're okay with that. I mean. We're okay with that being our own name. Something that's a crew in interest. What does she do? What type of life is she trying to live? I guess it doesn't matter. I don't know. She's a single mom. She's a vet tech. Okay. And does not have any help from dad. Dad was like.

Okay. Nothing to do with the baby. You guys built the house? Basically. Yeah. It's a storage building. 16 by 40. And then we did. You insulated. You AC'd. You heated. You plumbed. That's expensive. And you guys paid for this. And we did the work ourselves. How much was this? I think the loan was like $30 something. No, it was $20. Please, is that in this document pile? Yes. Oh, God.

When was this done? Oh, years ago. Come on. When did you guys buy this land? 2021, November, 2021.

And this is the house that we're going to die in. What's the deal with predicting the future of business? Inflation's up, then it's down. Rates are cut, then they're raised. It's like trying to follow the plot of a bad soap opera. If someone could just invent a business crystal ball already, that'd be wonderful. But until that happens, today's sponsor, NetSuite by Oracle, is the next best thing. Over 50% of all businesses in the world

40,000 businesses have future-proofed their operations with the number one cloud ERP. NetSuite combines accounting, financial management, inventory, and HR all into one seamless platform. Here's the thing. Running a business is stressful enough without wasting time on a patchwork of tools. With NetSuite's unified system, you get real-time insights and forecasting at your fingertips. To put things simply, you can stop guessing and start making smarter, faster decisions.

And when you can close the books in days instead of weeks, that's less time stuck in the past and more time crushing your next big goal. Whether you're bringing in millions or hundreds of millions of dollars, NetSuite helps you tackle challenges and grab opportunities before your competitors can blink. When looking at an ERP to step up my business management, I know NetSuite would be the choice for me. Want to stay ahead of the game? Download the free CFO's Guide to AI and Machine Learning at netsuite.com slash netsuite.

hammer it's packed with insights to help your business stay ahead again that's netsuite.com slash hammer thanks to netsuite for sponsoring today's episode now let's get back into it okay like this is it like we are never moving again because this is why i mean that's fine i love where we're at we have a killer interest rate um well that's fine that's okay sure uh what is lovesack um

It's where you make love on a set. No. It's a couch. This is a couch. A $3,159 interest rate on a couch? What's the square footage of the three bed? It's $2,000. Just over $21,000. Okay. We needed a $3,000 couch for it?

Well, I think that part was more of the versatility plus the lifetime kind of stuff you get on it. And again, there's the incest of money in that one too. What? So our version, our part of the couch is just about paid off. Our part? My sister. Where's your sister? Is it in her place? This is my other sister. And yes. What is happening? Where is she? She lives in Houston. Houston.

And she put her couch on the card and his mom also put her couch on it. You guys got to stop. You guys got to stop. Listen, she can take out a credit card if she wants to. Stop putting the risk in your corner. You have a kid. I have no problem with helping even if you want to gift that amount of money. But stop having someone else's debt on you. This is the third time now. And we're only six documents in, so half so far.

Yeah. I think the only other thing that's left is the loan. That's... What? There's something else. Mixing of... So there's the Ikea card. There's the smart financial. The love sack is split...

I want all of them. My sister and my mom. I want all of them to connect with our financial advisors. The one we use, Domain Money. Everyone gets a free session. Everyone in the audience gets a free session with the financial advisors. I want you to connect them with them and have them sit down with them because they have to be able to manage their own finances instead of being on your name. Okay. This is horrible. This is wild. Okay. When does the interest-free period end? 2027 for one, 2026 for one.

My gosh. Minimum monthly payment $109. Again, what happens if we don't know? We're having that conversation about everything now because everything's all tied up and mingled. Lowe's. This is for building the house. That's for our washer. Oh, good. Because we finance every purchase in our life. Every purchase. Is there a purchase that is not financed in your life? This is crazy, guys. What are we doing? Fees. Fees like crazy. We're getting fees on a monthly basis. What are we doing? $793.74. $794.

With a $53 minimum fee payment, 96 cents. Why? Why does everything have to be financed? What is our philosophy here? I don't know. I guess I've never really thought about it. And then when the time comes where we need it, we don't have any money. Because everything's financed. Making your minimum fee payment is a billion dollars a month, meaning you have no money. Yeah.

You're deferring your entire life. Yeah. And guess what? There wasn't that much in retirement, was there? No. I don't remember seeing anything significant. So you're not even, you're deferring your retirement as well. How are you guys going to be able to retire? You're going to have a paid off house if you do this correctly and don't suck. Sure. Okay. But there's still,

property taxes, there are utilities, there are insurance, there is food, there is whatever's going on with any other part of your family because we know you guys are deeply mingled there. And then there's the kid as well. So what are you guys going to do when there's no retirement but everything's financed in the world? You're not going to be able to pay for anything. There's going to be nothing. You'll have your disability, but that's pretty much it. Yeah. And we can't... That's not... Let's not call that retirement. No. What's accruing interest? Literally...

No, no, no. What was the fee? The fee is probably a late fee or something. Late fee, guys. How are we having late fees? Do you even know there's late fees? You guys aren't paying bills on time. I mean, I think it hasn't been that many we've had lately. Many that have? Where are you guys like that? You don't care about that. You don't care. Well, I know some of it we put on like auto drafts and then cancel a card and then didn't think about.

Well, we had on our call. And so what about this one, though? This isn't canceled. We seem so unbothered that I don't. I just assume that it's a late fee. And if it because I can't remember when these statements were either. So security.

You've had $312 of fees this year so far. That's essentially their version of interest on this card. Yeah. So just pretty sure they're going to get you with monthly fees. How do we find where the monthly fees are? I'm pretty sure that's just what's baked in. Yeah. Oh. I didn't know that. Yeah, I didn't know that either. So I would pay off this card immediately. You're getting destroyed. Okay, what am I looking at here? Okay, so that's one of the smart financials. So that's a loan. Four? Four?

I'm trying. One of? How for fuck's sake? So one is our water well. And that...

Balance should be that one. That's it. That's the water well. Okay, we got a water well. If 9%, you guys cash flow nothing in your lives. Minimum to be able to $375. This is getting crazy. $22,000 water well. That's a little cheaper than getting city water brought to where we're at because that was over 40 grand just to get city water. I'm not saying don't do this. I'm just saying you guys finance everything. You guys make money.

And I don't think it's, I really don't think you guys understand how well you guys do. You guys do insanely well. But you're living like you are not doing well. Well, no, you guys are spending like you guys live incredibly well. But you guys have made yourself in a position where you do not live well even though you. We don't live well. Yeah. Well, yes, that's what I was saying. Yeah.

So what was our plan with this? Just allow the 9% interest to ride out for eternity? I mean, at least until we can pay. I don't know. We have not really had any breathing room, so we're just doing what we can. Fun fact, that 9% interest, that 8.9% interest, by the way, the investing app that I use, MooMoo, the partner of this channel, one of my besties,

Favorite things? Literally, you put money in their account, and for the first three months, you get that amount of interest on your money. That's like a thing you get to take advantage of. But it's that you guys are just making money for banks. You guys are banks' best customer. You're giving them everything. I own some stocks in banks, I'm sure, throughout my S&P 500 distributions. You guys are making me a lot of money. Thank you. Thank you for f***ing up. Mm-hmm. Ugh.

That's the construction loan. Oh, this is the construction loan. So this is the tiny house. When we're saying tiny house, what are we talking?

Like it's a 16 by 40. I don't know the exact square foot. So that's like 600 square feet. And it's her and a kid? Mm-hmm. Is there any separations? Full open? No, it's got two bedrooms, bathroom, kitchen. Whoa, I can't even picture that. I'll show you pictures later. I'm actually really proud because we did it like, I'm proud of how it turned out. Sure. Because we did it all ourselves. Well, I wish you could have done it with your money. Yeah, right.

Oh, it's worse. It's a little 11% interest. You know, so if this, if we're considering this building a home, we just took out a 11% mortgage. Yeah. So what's the payment usually? Oh, for something for something. I'm going to put four 50. And we don't pay that. We don't pay for that. She pays for this. Yes. Can you start marking these?

Okay. Okay. Well, she pays for it or pays you guys? It goes into the bank where it drafts from. So it comes out of my bank. You really have a lot of trust in everyone. And I appreciate it. They're family. But you have, it almost sounds like nothing wrong has ever happened in relationships with you guys. Ever. Okay. And with that reaction, then I don't know how you're putting this amount of trust in people then.

Because you kind of are... You've allowed so much to go so wrong and destroy you guys. Yeah. And I think that that's kind of like where our downfall is. Is that we just want to give everybody the benefit of the doubt. And we want to like help as many people as we can. And I guess that is kind of where like the... That is the downfall. Yeah. But I think that's where the connection is of us...

I guess knowing that we're in a better, like we make better money than most people because we're able to do things like this for other people. But it's putting us in a bad situation if something happens to them. This is very scary, guys. This is very scary. Tractor supply. You guys have everything. You guys have everything. Oh, tractor supply. Sure. Why not? What we do.

Our fence. Great. $487. You got dogs or something? Or are you just trying to keep... You guys have a horse. Yes. You ever do anything with it? Yeah. He's a pleasure horse. Like, I don't like... He's a... I don't like...

like perform or anything. Like I don't like, we're close to Mexico. We're not in Mexico. Oh my God. That's what they call them. You call it a pleasure horse. Like it's not, you're not like running. That phrase stops. Yeah.

You're making Lindsay die. You're killing her. Okay. Your minimum repayment is $29 on this. Glad you guys are at least pleasant people. It makes it easier to go through this for what it's worth. What? This is... I just don't... You have a horse. How much was the horse? We paid $5,000 for him. How much is a horse upkeep? Oh, fuck them. So we got to put that in the budget. We got to put that in the budget. The horse. Yes.

Part of me thinks it would be fun to own land. It is a ton of work. I'm sure, but a part of me, well, like I... A ton of work. Right. But let's be honest. I mean... Okay. If I ever own... If you want to come for the weekend and just test it out, you are more than welcome. We will feed you. What I'm saying here is if I ever own land, the hard work would not be done by me. But like being... I love cows and love horses, but like I also feel like...

I'd be over in a weekend. Oh, yeah. That's my issue. I mean, we have a fence that we've got to finish in the front. So, I mean, if you want to come for the weekend. Oh, they want me to clarify that I'd be paying people to do the work. Obviously, I don't know what they were thinking. I don't think that's how anyone else or I hope not. I don't know. The comments section always take everything bad anyway, but whatever.

Oh, yeah. All right. Okay. Let's just go on. Okay. Now you're into a bank statement. Oh, this is you. This is you. No, this is your car. It has to be. That's my truck. Why do you need a truck? I have a horse. What do you do with a horse? You have to take him to the vet. You have to take him to go get his feet done. You got to take him to go get his dental. They don't do that there? I mean, you can have somebody come out to the house. Okay. But to be clear, you have a $70,000 loan so that you can take the

Horse to the vet. And, I mean, other things that you need a truck for. Yeah, I mean, we've used up the trailer. Of course, we don't have those trailers now. Except for the horse trailer. We have the horse trailer. Guys, there's just no reason to have this kind of debt for you. Yeah.

Even still, you weren't trying to find any excuse to have this truck. You could have had a cheaper truck sitting on standby for that specific thing, and then you could have had just a sedan all for yourself, and it would have been fine. Or a midsize SUV, and you would have been okay. You do not need a $70,000 truck to carry a horse a couple times a year. Right? How often times are you taking the horse places? Like every three to six weeks. Uh-huh. Okay. Probably could have had a bullsh** little truck.

Not little, but a bull truck. A bull truck. I mean. You didn't need a $70,000 loan. Or get rid of the horse because obviously you can't afford it. Fuck's sake. I'm trying not to say that, but. I have tried to sell him. The horse. Yeah. That sounds. He's a pet, right?

Uh, yes. It's like a different level of a pet. It's not the same. It's not like a dog. Why not? I would. If I had a cow, I would. I love cows. Well, if you get like a little mini Highlander or something. Well, no, no. I just like cows. Do you know how gross cows are? Yeah, but I like them. Do you know how gross dogs and cats are? They are gross. Exactly. That's what I'm saying. But no, like you don't look at a horse. Why'd you try to sell it?

Cause getting too damn expensive. And I, and I wanted to, why is no one bought? Uh, cause he has a, the cell get rid of it. Yeah. He's got like a, something going on with it. You can't afford it. So why not just go free?

As long as someone does transportation, well, do a little bit of money because you make sure they put you because you got I'm going to treat it like a normal pet. Make sure they do have an adoption fee so that, you know, they have money to take care of it. Right. That's pretty much it. So they have a little bit of, you know, you know, they're not just going to throw. Yeah. But even still, this is crazy, guys. Obviously, you can't afford this. You need to get rid of this truck or something. I don't even know. What's the do we know the value of this truck?

- You would know that one better than me. - No, but- - Yeah, let's pull the value, Jake. - We'll be probably in the 40s. - If you want to earn a $3,000 bonus, you need to keep listening. Silo is running an exclusive launch promotion just for you guys. Silo's like Robinhood, but for bonds. And they're doing the best signup bonus I've ever heard of.

deposit right now using my link, they'll boost your deposit by 3% up to a $3,000 bonus. And US government bonds are already bringing in 4 to 4.5%. Bonds are especially interesting right now because the Fed has been cutting rates left and right with more cuts expected all throughout 2025, potentially even dropping all the way back down to zero. Even I got a notice from my bank about cuts. So if you see your savings rate already shrinking, it's time to take

action. With bonds, you can lock in today's rate of 4 to 4.5% with the U.S. government for 1, 2, or even 10 years. And the best part, once you buy, your rate is locked in, even if the Fed cuts rates to zero. For those like me who prefer a bit of peace of mind, U.S. government bonds are risk-free because of their ability to print money and pay you back. Also, all assets on Silo are stored with interactive brokers and protected

by $500,000 in SIPC insurance and up to $2.5 million in FDIC insurance. This limited time launch offer is only available for the first $10 million in deposits and a big chunk of that is already filled. So if you want to get a $3,000 bonus, don't wait. Take advantage of this opportunity to lock in over 7% rates only with Silo at the link in the description below. Now let's jump back into the episode. Oh, okay, it went down from, it started at 70.

Now it's at... Yeah, I've had the truck for a while. $53,000. How long have you had it? Two and a half years? $53,916.54. What's the minimum? It has to be a crazy minimum. It's over $1,000. Oh, for fuck's sake. Two, two, two. It's like $1,063.

Yeah. It's $1,058. But we have two over $1,000 car payments. That's crazy. I don't understand the life you guys are living. Oh, it's worth $29,000. Congratulations. Nice. That's horrifically disgusting. That's private value. It's not even trading. That's disgusting. Do you not realize how disgusting that is? That's pretty bad. It's a truck. I mean, trucks will fuck you the most because everyone will go get a $100,000 truck that'll be worth $20,000 the next day.

If there's a vehicle people are willing to overspend on, it's trucks for a work-at-home job. Alta? The only living thing that sees you on a daily basis is an oak tree. Why are we spending $360 on an Alta card that we can't afford, probably? Um, I use it and...

usually I paid off like the same month or before, like right after the statement comes out. So this is normally paid off. Yes. And actually that is. So one card, one card that is actually used, uh, relatively responsibly. Not true though. Cause you spent $360. I should have gone towards that. Yeah. So I buy all of, I buy like all of my stuff all at one time. Like probably every, every eight to nine months I use that card.

And I put all my stuff in one time and then I have rosacea really bad. So I have to be like very careful. Like I can't just go to the drug store. If it's a couple times a year, that's different. Yeah. I can't just go to the drug store and like buy a lot. Okay. I'm getting it. But if it was a monthly fee, that would – No, no, no. If it was a monthly charge, that's where I would be freaking out. No, that one's paid off. Okay. Valero. We have a Valero card? I haven't had this on the show. No.

You've never had a gas card? Gas card and a Valero card. $740 is owed on this. Is this normally paid off? No. No. No. Oh, $18.56 of interest. Good. Good. Yeah, let's pay interest on our gas. Come on, guys. Like, I don't even know what to say anymore. Like, you've just accepted this very clearly. Like, this is just life. It's just like life. It's not that you guys don't care, but it's like almost no concern anymore because you've just accepted it.

It's been like this for so long that it's just like our norm. Why do this? Because we got ourselves into the hole and then can't get out of it, I guess. Home? Got ourselves into the hole. That's our mortgage. You're right. The rate is great at 2.5. I mean, that's wonderful. What I don't like is...

It's still like a half a million almost. Okay, whatever, whatever. I mean, it's the $2,687 payment on top of your $2,000 in car payments on top of whatever else is about to be added up, guys. Geo, $443,773.57. Okay. The minimum monthly payment of, again, $2,687.38. But we love the interest rate.

Oh, I accidentally put, we'll take a look at that in a second. That was a 401k. Oh, is that all the debt? Have we reached debt? That's it. Well done. Why is there still so much paper? Okay. Those are all the bank statements. Goodie. Why do we have so many different banks? So we have like a checking account that we use for our bills where just bill money stays in there. And then we have a spending account.

And then we have an account that was with his or still is with his mom where like our mortgage and stuff went into it and our insurance because his mom lived with us for seven years. You guys are complicating everything. So his mom lived with us for seven years. So the mortgage was already in just coming out of that account. So rather than being, I was just being lazy and I just didn't move it over to the lazy in this story. Lots of laziness is less. Um,

So one of the accounts is just, it's a family checking that has his mom on it, has the mortgage and the car insurance coming out of it. One had tools, like work stuff. And then now I just use it for my day-to-day stuff. A note was written by Lindsay that you, new tools are your fetish. Like that is the literal note. It's not a fetish, but I buy as I go with what's necessary. Some of it's not, I guess. Necessary for? Work.

Oh yeah, I guess me. Like? Oh, I mean like certain socket sets or the wrenches that I'm using, the scanner that I bought, which that one was quite a bit too. How much hammer pegging is going on? How much what? It's called turning wrenches. They don't know what that means. I'm going to allow that to slide then. Am I missing it? Yeah. Oh, okay. That's okay. Okay. Okay.

How much do you spend on tools, you know? For the fun. It's not fun, but... Oh, come on. For your own personal ones, not required for work. I don't have any that's personally used. This is all, like, work stuff that I use. How many new tools do you need constantly? I mean, things change all the time. Okay, so how much do you spend on tools? Well, I mean, I think... Why isn't your work covering this? Oh, wait. What's your job? Mechanics, they don't do that.

What, the truck shows up, the special little truck? Mm-hmm. And they offer you, like, 50% interest? I think it's, like, 18.9. Yeah, it's crazy. Yeah. How much do you owe? Wait, do you owe? Yeah. Wait, so that is a debt. How much do you owe? I'm pretty sure it's, like, $22,000 to one. A debt? And told that? For f***'s sake. That was all everything that's recent. Are you being serious? Yeah. Yeah.

You didn't know this? No. That's an insane debt. I thought it was like. Well, the other ones almost paid off. It's like $2,300 on a different truck. There's more? Yeah. When I asked if that's all the debt, why'd you not tell me? I wasn't really thinking about it. I need you to think about it. I don't know. Sometimes I think about it different just because, I mean, that's stuff that I use every day at work. I'm using this.

Oh, for fuck's sake. Your minimum monthly payments are $670 a month. Yeah. Thoughts, comments, concerns? Yeah, I didn't know about that. Wait, is that why we got all the Snap-on stuff? Mm-hmm. She knows a lot about it, though. Again, this doesn't even matter. It's just another pin in the thing. What am I going to say to him about buying stuff whenever I'm

Well, yeah, it's not like I want you to go crazy or anything, but it's just your reaction. It almost seems like because we've stacked so much, it's another little pebble in the bucket. Doesn't even matter. Like, why not throw it all in? Uses get more debt.

Feels like that's where we are. Or debt just no longer has any impact on you because you guys have just lived debt, debt, debt. I need to take debt away from you guys because it means nothing. You don't understand the repercussions behind it, the fees and interest that you're paying. Yeah. So that's all 18%. Your minimum through payment is $670. Great. Are there any other debts he's not telling me about? Have we made it? Yeah. I don't think there's anything else. Okay. God, lucky. They didn't even feed me that information, I don't think. I, uh...

I looked down at just Lindsay's funny note all the way down. That's crazy. Yeah. I mean, like I knew that there was a bill of, I mean, obviously I knew there was a bill that was coming out every month because I look at the bank. I'm the one that looks at the bank, but I didn't realize it was like that. Yeah. You guys have overdrafted this year, by the way. Overdrafting or making net over 150,000 hours a year. That's insane. That is insane.

When was that? Oh, huh? When was it? I don't know when it was. Some point this year. It doesn't say. No, this show is okay. But I do know that this past month we were getting McDonald's and Prime Video and Prime Video, so we're renting things. Afterpay. We're afterpaying, so there is more. Yeah, those are our dog's clothes. You guys make money. Everything does not have to be a minimum payment. I'm surprised you're not financing the McDonald's and movie rental. TikTok, $60 on TikTok.

TikTok? Yeah, I don't know what the fuck that is. It's like leggings or something. Why are we buying on TikTok shop? It's all just like extra bullshit that we don't need. Don't go into the TikTok shop part. Don't swipe left. I don't trust it because I think it's all Chinese. You know what? How did I know you were going to say that? It's like...

What do you think the stuff from Amazon comes from, too? Well, that's why I pick certain things. Well, I don't order a lot off of Amazon, either. Where do you think your hat came from? You know what I'm saying. I don't know. I'm not curious, though. Probably made in China. It came from a gas station. You're bald. He's very bald. I'm not bald. I shaved it bald. Okay, Starbucks. News...

No, no, no. I was like, whoa, bro. I was like, you do it, so I don't know nothing about that. News Express. That's probably a gas station. That's a gas station. You stop inside and get something? It's $5. I know you weren't getting $5 of gas. What are you stopping in and getting? What's a News Express? It's one of the gas stations, I'm sure. Someone's stopping in and getting something for $5.29, guys. Oh, no, that was the airport.

That was the airport. Okay. Yeah. Whenever I moved his mom. Lyft ride? I know for a fact you guys live in the middle of nowhere. Now I know what account you're looking at. And this account is me going to move his mom. And all of that was reimbursed to us. Everything. Yes. McDonald's, Starbucks, Starbucks, Starbucks, DoorDash, liquor store. Yep.

Why are we getting liquor store for a move? DoorDash? All this DoorDash? Because I need beer after I done moved everything across state lines. And you're reimbursed. But yes, she reimbursed me for all that. 50 movie rentals, TikTok shop, and other TikTok shop, $96. Now that stuff, no. This is the same account. Okay. She's getting more TikTok shop.

That communist stuff. Yeah. Amazon, Chili's, Pack and Stack, and Amazon. Amazon. Okay. And another checking account. Subscription, Country Corner. That's gas station. Yeah. Country Corner spelled with a K because I bet there's a lot of triple Ks out there. David, reason over.

That's the tool guy. The tool guy? Oh, it is Matco. Yeah, that's the one that's almost, well, I say almost, but that's like the $2,200, I think, or $23. Zelling out $20, and there's more Matco. Wow, there's still so much paper. Zelling out $250, PayPaling out $10.

Selling out 82. Where's this all going? Selling out another 250. So the 250 is whenever he lost his job, my mom gave us a $4,500 loan to pay some stuff. Emergency fund. Not having an emergency fund is an emergency. For fuck's sake. So I pay my mom $500 a month and she'll be paid off in March. PayPal. Apple bill.

How much is left? Again, that is a debt. You didn't tell me. How much is left? To mom? That's math. Come on, math. Quick math. Yeah, I don't know. Zoom, zoom, math. $4,500. She pays it off. I pay it off in March. I pay $500 a month. Oh, there's an extra checking account that I don't even have?

His allowance, you give him an allowance checking account? So we, yes. Well, I have it, but I pulled it out just so, you know, I can keep track of whatever.

Oh, you guys sit down. Listen, if everything was in one account, you guys might just have to put everything in one account on my credit card spending and track it all at the end of the damn month. His account he uses for like his debt and he smokes cigarettes and don't be getting cancer. You're doing every tobacco variance and the and buys his beer and that's on his account.

Some of it. I can't put that in the budget, man. I can't put you dying an early death before your kid even graduates college or whatever they do. I can't put that in the budget. How much are we spending on a monthly basis on all these? Well, what I'm spending is not just that. It's also the food that I use while I'm working. But how much are we spending on all that? On tobacco. Different tobaccos. Just tobacco products. Nicotine. Or nicotine products.

Well, a can of dip now is $9. One can. How long does it take to go through a can? Like a day. A day or two. It just depends. I didn't know how much it was until like two days ago. I'd probably say like $200. $200 a month? Yeah. I don't know what to do with it. $65 in this account. It's just transferring a couple things. Oh, for fuck's sake. Oh my gosh, more. $12 in this account. Priced Chevrolet.

outlaw bar and grill oh there's still so much spending go win in a gas station got some bull amazon travel center travel center that's gas station tractor supply good the credit card's not enough that's dog food oh lots of water delivery yes so our well water is the thing that we're in debt for it's not drinking water

Like you cannot drink it. It tastes like ocean water. Salty? Yes. It's like super minerally. And whenever we first moved out there, we had multiple companies come out and test the water. And they're like, there's nothing. Like a water softener is not going to do anything. Reverse osmosis won't do anything. Yeah. So pretty much, I mean, we're stuck paying the well that you can't, I mean, can't really do a whole lot with. You can't drink it. And then we'll have to try to get city water. Eventually one day.

So you still have to do that. So we wouldn't need to do that. But you were like, but when we talked about that well day, you said, so we didn't have to do city water. City water would have been more expensive, but I said you have to. Yeah, but we weren't knowing the well. We didn't know the water there was so crappy. Backyard, $118. What is that? I'm trying to think. What's backyard, $118? That's that restaurant. There's still so much more.

Amazon, McDonald's, Amazon, RMD, Amazon, Amazon, Nails by Britney.

Again, the only thing that sees you alive is the tree. Price Chevrolet. Amazon. Huh? I see him. Wear gloves. Subway. ATM withdraw $400. What'd that go? What is it? ATM withdraw $400. We had some damage to one of the windows on the house. So we paid a guy to come fix it. And then the AC was leaking. Is this house going to survive?

My goodness. Amazon, Ancestry.com, so you lost all your personal data. Amazon, more Ancestry.com, great. Amazon, Nails by Brittany, she came in twice. She's doing those nails endlessly. She's obsessed with them. Brittany's always needing to be in there and grinding on nails. More Price Chevrolet. What is this thing? It's like $9. Price Chevrolet charges constantly. Car washes.

Guys, we don't live in a place with snow. And I know it's a little dusty, but it's not that dusty. It's dusty. Okay, come on. I've been down to San Antonio a billion times. Three times. It wasn't that dusty. It wasn't that different than Austin. No, it's very dusty where we're at. Okay. Yeah. And the very rural. Yes. Yes.

$1,700 in retirement. Oh, this is the bad part. You know what? We went through a lot of debt and it's all bad. And you guys are mingling a lot with the family and it's all bad. This is the scariest part. So that's from my brand new job. Total both retirement accounts were at $4,000. Rounded up. $4,000 to our name in retirement.

Yeah. How are you guys going to survive? How are you going to do anything? You guys, with the paid off house and everything, and if you guys live minimal, off the grid, whatever, you guys probably need at least a million bucks to survive. Yeah. Without draining your portfolio. You can go less, but you'll drain it by the time you, before you croak. Well, you know, at the time you croak, essentially. Yeah, I don't really have an idea what we're going to do.

I'm going to put reliability from the family. So we have the, that smart two is taken care of by, you know, sister. What else was taken care of? Part of the love sack. The best buy was taken care of. And the, yeah, part of the best buy. How much of the love sack of the minimum? Um, 48th minimum. She pays. So, okay. But the numbers that you wrote down though, those are like the statement minimum balances and that's not what we pay. We,

We pay over like we pay the promotional to pay it off. I don't care. I'm doing your budget. So that's not even 100 percent true on everything. So that's not true. But I pay one hundred and thirty eight dollars a month. I don't care. I want to know your minimum. My minimum is one hundred and thirty eight dollars. On Love Sack. Yes. The minimum on the cards. One hundred nine. That can't be true. Because if we pay one hundred. No. What is your minimum monthly payment required? Yes.

I pay $130. No, your minimum monthly payment required. I think that is what's required for it to pay off in time. Are you not understanding this? Your minimum required on a monthly basis so you don't get a late fee or a missed payment. Oh, I don't know. What do you think a minimum? I don't know because I don't, because if I pay that. I'm writing that one off because it's mostly taken care of by them. Yeah. That's not good that we don't know this. That's actually kind of crazy. I don't even think I've ever encountered that of not knowing what a minimum monthly payment is.

Well, because I pay way over that. That's not the question, though. Okay, your income is $13,133. Well, you add up all these debt payments. It'll take me a second here. You guys went to trade school? He did. I did, yeah. Very cool. Did you do anything? No. That's okay. Not much I can do to help you guys. Maybe we'll give someone in the audience a course career certification.

Yeah, if you guys want to comment about Course Career's Black Friday sale right now, a lot of things are 50% off. Do like a comment like, Black Friday Course Career sales or something, and I'll gift one of you a Course Career certification since they don't need it. Or you can give it to your sister. We can do both. How do you not have a bottle of water so that you don't get all parched? It's right next to me. It's right next to me. But I feel pretty okay. I usually chug right before coming in. Because your mouth gets so dry talking so much. Yeah. Yeah.

Oh my gosh. Minimum monthly payments, $3,838, not including your mortgage and 92 cents. Your minimum monthly debt payments. That's insanity. That's crazy. That's crazy. And then your mortgage? 27. Yeah, 28, 20, no. I think it's 26. 26, 87. Utilities? Electric bills, usually about four, I would say $400 is what I usually. Internet? 120. Gas? Gas.

Like gasoline to drive or like car house. No, no, no. Okay. Vroom, vroom, drive, drive gasoline. Both of you together. It's two 50 for me. Yeah. Probably. Yeah. Three something. Whoa. Two 50 and like three 50. Yeah. Ooh. Okay. So we're going to do 600 there. Car insurances. Um, four 70. It just renewed. Phone bills.

Say 300. Usually I would do helium, but you guys are very rude. Yeah, it's not even an option. I looked at the option. Whenever I've heard you say it before, I looked into it, and it was not an option. TP, find anything else to survive. Going to do 200. Okay. Groceries or meal prepping a couple times a week. That's it. Packing. Packing. Sandwiches. Thermoses. Sandwiches. Yeah. We should be able to do 800. Follow our meal plan.

You have a meal plan? Yeah, it's in the budgeting program. Tweak it to your needs. Medical healthcare ongoing? Monthly basis? So now that I have an HSA, we've been using that to pay for our medical medications. Is it ever going to run out? You pretty contribute to it, but do you overspend? I have not yet. My company matches. We'll eat them still. But okay. Pet foods? Are we including the horse? Are we getting rid of the horse? I mean, probably not. Then yes. Um.

Say $200 a month. Oh, okay. What about horse maintenance on top of that? Trying to average it would probably be just say $100 a month. That's not that bad. No, no, no. No subscriptions. We're canceling them all. What all subscriptions do we have to cancel? Every subscription. Every subscription. Well, we don't have TV. Good. Use YouTube. It's free. Then there's ads.

Yep, just like there is on TV. And you pay for TV, so. Well, I pay for, like, Netflix. We don't have, like, cable TV. Well, you got the ad-free version. You're canceling subscriptions. You're listening to ads when you can't afford to fuck live. Okay, so, I mean, you guys can fucking do this. And we already knew this. Is that off of, like, what you were saying? Like, the minimum payment for...

Yes. But now we learn where we can put the rest of the money because you have to make your minimum payments on everything anyway. Right. So this is what's required to survive in a minimum. Okay. And now we figure out what to do with the remaining money. And then you, I guess, prioritize off of the promotional stuff and then like snowball it? Yeah. Okay. Yeah.

But this requires you guys actually not overspending. Right now you're overspending, so it doesn't even matter. You're going off theater every second of your life and stopping at a gas station and getting bullshit. $3,397 is what you guys have left over. Come on! I'll even put that $3.97 towards subscriptions, fun, bullshit, whatever. There you go, okay? Okay. Okay, so now you have $3,000 left over on a monthly basis. Budget it out. With that, I mean, guys, this isn't...

craziest thing in the world. I mean, you guys pulled on this yourself. Yes, prioritize the deferred interest ones first. So they're paid off by the before things hit. But again, okay, this really isn't crazy. And then I would snowball the lowest balance. Do you do the lowest balance or do you do the highest interest rate? I would do lowest balance for you guys to stay motivated. Okay. You'll see more progress. No more tools.

No more bull****. I think I'm pretty much set on it anyway. That's what everyone says. I guess that's what everybody says. Yeah. Hey, he did get a really cool snap-on sign and a beach towel. Because your vehicle's bad debt, not including your mortgage bad debt, we have $170,000 to pay off. That's an insane number. That's actually kind of crazy.

170? That's kind of f***ing insane. That's our annual salary. 56 months to pay off. 56 months to pay off. Yeah, and that's bad debt. That's not even the mortgage. 56 months to pay off. So you guys can do this. It's going to be a grind. Four and a half years. Just over four and a half years. Let's call it five years after you're fully funded emergency fund as well. You guys can get out of debt. You guys have run forever. And because of that, now you're in a five-year hole. But by the time you guys are entering your 40s, you'll be debt-free.

And that's fine. That was pretty similar to my parents, for what it's worth. And they're in a pretty good position now. You know, they were certainly through the 20s, 30s, kind of, you know, messed up. But going into the 40s and everything, you know, turned things around. And that's okay because they sacrificed in the later half of the 30s. You guys f***ed up bad. F***ed up bad. 100.

Whatever, $30,000 of bad debt is crazy. That's not something we see here. You guys are beyond lucky that you have an incredible household income to deal with it. In four and a half years for the amount you guys put up your debt lives, it's not that bad of a sacrifice.

It sucks, but I'm also giving you guys $397 of fun. I usually can't give people fun money, but that helps you guys stay motivated throughout. Save it for a month, and then all of a sudden go ahead and that gives you $700 to blow in the next month if you set it aside. Set it aside for a few months, go on a little vacation. Whatever you guys choose to do. That gives you Christmas. That gives you going out to eat. That gives you that fun money. Okay? Okay. But four and a half years is not the end of the world. Right.

Go through the budget, Dean Program. Build up your budget. Here's our rough idea of where we think life would be. Okay. And as income goes up, as income does go up, that helps propel this. Yes. You've got to attack those deferred interest ones first. Pay them off. Yeah. So that's one of my questions is...

I want to like, how would you suggest prioritizing? Because I do have some deferreds that are like at the same time. They're like roughly at the same time. Well, with this $3,000 with where you are, your deferred interest balances weren't the craziest high ones. No.

I mean, care credit. Yeah, but care credit, a lot of that was like 2026 as well. So with 3,000 hours a month and the balances I saw in the care credit, this deferred interest one should be killed before the deferred interest hits. So prioritize the dates. Okay. And then after that, just the smallest balances. Because I do know care credit, we were paying like $1,000 a month to care credit the last for a while. And so...

Yeah. Now it's dropped down to where our promotional purchase is like three something. So we have that extra wiggle room there to be able to put into the different promotional purchases. Okay. So the only other thing is your truck. I mean, your truck's honestly kind of can't really finesse that. The Bronco might be able to borrow the difference, get a cheaper car as well.

That'll give you maybe like a $30,000 debt instead of a $66,000. That might be worth it temporarily. That honestly probably saves you about a year on here. I'd rather go from four and a half to three and a half. Call it three after income goes up throughout the years. Okay. So that might be an option to consider as well. I would personally do it. I'd personally do that. Okay.

All right. We'll connect you with the tools. We're going to talk in the post show. We're going to bring everyone into the post show and the YouTube membership. There's also a show where you guys can call in and talk to us live, by the way, about your finances or whatever drama or anything in your life. You can do that. You can talk to us and then it'll be fun. So make sure you guys join our YouTube membership link in the description below. Let's get your household time or financial score. You said two. You said three. Spend any budget you ever spent. Zero out of ten. Debt.

$130,000 of debt. Come on, it's your annual income. I can't give you better than a 1 out of 10. Emergency fund. There was no savings. 0 out of 10. Retirement's barely a start. 1 out of 10. Real estate. It's the only thing you have going for you. It is a big balance. Minimum repayment's okay within your living situation. But you're having to invest a lot into this water situation. You're having to figure that out. It's a bit weird. Great interest rate, but it's okay. 7 out of 10.

Hammer financial score for today. Then we'll have a follow-up on the Financial Audit follow-up channel whenever you guys are ready. But for today, it rounds up to a 2 out of 10. Make sure you guys bundle all of our educational programs together for 15% off. That is what over 10,000 people have done, and they've changed their lives. Now come join us in the Financial Audit post show. You didn't know how much the total was. I did not know how much the total was. Mm-mm.

Did you not communicate this to her? No, we talked. We talked about it. One of them I traded. Just like we talked about the other stuff. Do you guys actually talk about anything money? Sometimes. What do you talk about? How does this go? When Caleb brought up financial in your family, we all kind of gave each other a look. What's the tea there? And how are you so sure that you're not going to get burned again? To watch the financial audit post show, click the join button below.