The Dumbest Couple I’ve Ever Met | Financial Audit
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Hi, my name is Sam. I am 26 years old. Hi, my name is Michael. I am 20 years old and I'm based from the Rio Grande Valley. And this is Financial Audit. Thanks for coming up, guys. So good. A married couple. If I'm not mistaken, you guys have recently gotten married, right? Yes. Cool. How recent? So we got married April 6th.

Are we in the honeymoon phase? Yeah, we're still less than two months. Okay. Okay. So fresh marriage. So finances in general. Obviously, that's what the show is about. Getting into this together. Have we combined our finances yet? Have we done anything? We have. And that was just recently, like less than a month ago. We actually, I added him to my account. Added him to your account. Yes. Okay.

And how are we looking from the couple's standpoint financially? So definitely combining our finances. It has helped with, I guess, paying off debt little by little because now we're not thinking by ourselves. Now we're thinking as a couple. You guys are thinking together. Yes, we are.

I mean, we have our different opinions, but we're trying. What are some of those different opinions? So I am more frugal when it comes to money. I'm more about saving. I'm more about planning for the future. And he's more about spending. Yeah.

mostly on electronics, vehicles. Yeah. What's what's spinning out? Like, just like getting a new iPhone constantly? Yeah, it's just recently, I'll say since November, actually just barely got the new phone on iPhone 15. Something comes out. I kind of want it or not. Not basically want it, but want to upgrade what I have.

So I've always done that for years. And how do those conversations go typically? I am more like I am okay with what I have. I don't need the newest iPhone. I could stay with like, for example, I had this Mac from 2015. It was a very old one. And he convinced, well, okay, no. I needed a laptop, but...

I didn't want something that expensive. He was more like, no, might as well go big or go home. So we got the newest. She prolonged it for a very long time until we actually got it. You won with the biggest and better. Yeah, I did.

Okay, so obviously we have debt as a married couple and we'll go into it and it's a pretty thick stack. How do these in general though, when we're talking about our financial future, when we're talking about paying off debt, which seems to be the objective, which okay, good objective. How do these conversations go? Where are we in terms of agreements and disagreements headed into this conversation?

So I'm more about getting the debt to zero as fast as possible, whether or not there is, I guess, like a zero APR. It doesn't matter to me. I want to get it to zero. Why do you want it to get to zero so quick? Because it's like a weight on my shoulders and I don't like looking at how much I've accrued.

he sees zero APR and he's like, oh, we don't got to pay anything at all until... We could prolong as long as we still have time, a couple months without interest. You can have money in your savings, stack it up a lot more until the very end. You know, once we come to the very end, you can pay it off. But...

Until then you can relax. And I tell her like, you're reacting. Yeah, you can relax. Why are we relaxing? We have, if you have 18 months with no interest, all you have to do is a minimal payment till the very last month. And then you pay it off. How much is in your savings today? My savings? Oh, are we, are we together or not? Our savings are together.

Okay, so how much is in your savings? You're all savings. Okay, so no. Before we got together, I had a savings. No, no, no. We can talk about that. How much is in your savings today? Couple. Group A. Zero. Okay. And you said it's okay if there's 18% until no interest until it's due.

One of them literally just started accruing interest this month. So I think that argument's invalid. Which one's that one? We'll get to it. We'll go through them. But that argument immediately. Like, okay, I could vibe. I could vibe.

Well, we got to take which one it is. But once it comes to it, then, yeah, we got to take out from our savings to pay it off. How much is in your savings? We have zero in our savings. So how are we paying off thousands of dollars? Well, that's what that's why it's at zero because we paid off some cards. OK, but I was on tell you can relax until the time comes. But one of them just hit the interest period. So that didn't work anyway.

So I believe, okay, I don't think we thought it through, but I believe what we paid off was were ones with zero interest instead of tackling. Wait, what the f***? Why? Whose decision was that? Mine. I didn't tell them. I didn't even know. Didn't even. I didn't even know. She's just like, hey, I paid off three credit cards of yours. And I was like, but two of them had no interest and for a while longer. Combining. It sounds like we combined into a dictatorship. Yeah.

With that kind of, you know. To be fair, to be fair, he signed up on a property without me knowing. What? Yeah, so. How much?

Our property is valued at $120,000. That's what we purchased. What does we purchase? That's the price. But at the end of the day, it's not what we're going to pay. Without her knowing, though, $120,000? I have just told her. I told her, I was like, hey, I'm going to go take a look at this. And I just went ahead and got it. I didn't even get a text or anything. He just said he was going to look. You went and looked and bought on site? Yeah.

The first day I was there, I just chose one. I'm assuming you took out debt for it. It's owner to owner financing from there. Okay, so you took out debt for it. Yeah. To the owner. We are not on the same page. At the beginning, you were making it sound like this was going. We're only like two, three months into this thing. And we're doing things with debt, taking out debt, paying off debt that is not accruing interest when there is debt that's accruing interest.

Without each other knowing? What is happening, guys? What the f*** is happening? So most of that, the whole without each other knowing happened before we got married. So now we're married and now we're in it together. So when did it happen? When did the property thing happen? This happened in like December of 2022. And you paid off some of his debt? I did. Without him knowing? Before you guys were married? Yes. No, after we're married. Oh, you just said it was before...

This is confusing. Okay. That's okay. That's okay. Let's diagnose. Let's go through. The property was before. Okay. Do you guys live on it? Yes. Okay. Okay. What was it? You bought like a house? No, it was just a property in Empty Lab by itself. Okay. And you've built something? Yes, we have built something. We built a frame house, a 24 by 36 in it. How many square feet is that? Who's what? Square feet.

square is like uh 860 square feet smaller size you guys aren't killing each other the what you guys aren't killing each other yet no 800 square feet no no it's pretty big it's bigger than a studio it's bigger than a studio on wait you bought the property how big is the property the property is three acres so we buy three acres and we build a 800 square foot well that's what we can't afford

Yeah. Well then if that's what, okay. But like, okay, this is what I'm thinking. If we're buying three acres, we're likely thinking more about staying there for a bit. Yes. So future proof, right? It is a frame house. So when we're done with it, we can sell it and move it out. Somebody else will purchase it. So we have, I have planned towards the future with this. It's like on bricks. So it could be lifted up and moved. Uh,

Wait, why have I never heard of this? Am I dumb? Do I have a bit of dumbness? Do we have that? Because I'm even searching up framed house and nothing what you guys are talking about. Just put house on bricks. House on... So the bricks are the base. The base is wood, but it's lifted up. It's on bricks. I just have pictures of brick houses. Oh. All right. So between the dirt and the house, there's bricks.

No, I got that, but I'm just trying to look up examples because I've never... Look up a frame house. Frame house. He did. Yeah? Yeah. It was pictures of houses being built. Okay, well, this is already finished. Frames of houses. I searched frame house and I'm getting a frame to buildings. Okay, this is... I don't think this is working. Do you guys have pictures of your house?

Not on there. Okay. Not quickly. How much was the property? The property, what I ended up financing with the owner financing was $117,000. And how much was this framed house or house on bricks? 800 square feet. It was $37,000. And someone has to want to buy this 800 square foot house if you are to sell it? Yeah, it will sell. To move it? You do sell it on a loss though. Sure. Yeah. Yeah.

Framed house? Why am I dumb? There's gonna be something. I feel like I'm being dumb right here. It's not a trailer. No, it's not. It's like the next step up from a trailer. Okay, okay. Like an actual house. Don't confuse it for a storage room. Okay. You can see them outside my Home Depot storage houses. It's a storage house. Like little storage garages. No, I'm saying don't confuse it with that. Oh, don't. Okay. Well, I'm confused. He's confused regardless.

And I love real estate. I'm like in a good amount of real estate, but I've just never heard of this. So I really feel like I'm going to look like a dumb, but I can't. Well, I don't know. So I'm going to count down from three, two, one, go. And on go, I want you guys to give your household financial score. Zero being the worst, 10 being the best. I want to see where you guys self-assess at the same time without hearing each other's answers. My dad works in B2B marketing. He came by my school for career day and said he was a big row ass man.

Then he told everyone how much he loved calculating his return on ad spend.

My friend's still laughing me to this day. Not everyone gets B2B, but with LinkedIn, you'll be able to reach people who do. Get $100 credit on your next ad campaign. Go to linkedin.com slash results to claim your credit. That's linkedin.com slash results. Terms and conditions apply. LinkedIn, the place to be, to be. So I'm going to go again. I'm going to go three, two, one, and then you're going to say it at the same time. On when or after when? On when? On when? This

Zero being the absolute worst, 10 being the absolute best. On our house. Household financial score. You guys as a married couple. The house, the purchase of the property in the house. Your guys' financial score as a couple. Oh, okay, as a couple. Which is where you are. Zero being the worst, 10 being the best. Three, two, one. Four. Wow, so you think you're basically in an incredible financial spot.

Yeah, I see a path forward. Path forward? I'm talking about where the fuck are we right now? You think you're one of the best? You think you're like basically like Bezos level? No. Okay. What level was he? You never told us what 10 was. I said 10 is the best of the best. The best of the best? Yeah. All right. 10 being who? If Jeff Bezos is 8.

No, no, no. I'm just saying like 10 is the best of the best of the best. Like you have everything's 100% perfect. You're in the best financial situation that's ever been invented. And zero is like the worst financial situation you could ever be in. And you think you're eight. Okay. If you want your Hammer Financial score, it's free in the description below.

Let's do this thing. Let's look into some of the monies because we got some weird debt card things happening here. Wells Fargo. Who? Okay. Are we on each other's accounts here with the cards that we like authorized users? Okay. So who has the Wells Fargo? Me. Reflect Visa Platinum. You. Okay. Let me do some columns then. Under Sam Wells Fargo. Okay.

Okay. How are we paying for the debts combined? Like, how are we choosing which ones are paying, getting paid? How are we doing any of this? There's no plan. It's just advice. Guys, you set me up so optimistically at the beginning. How is there no plan? Have we never talked? How long were you guys engaged before you got married? She's paid off the ones that have the least amount of money in it so far. Okay. Okay.

How long were you guys engaged before marrying? Four months. Four months. How long were you guys dating before engaged? Four years. Or five... Four years. And you guys never talked about a plan? No. No. Because we were very separate when it came to our finances. So it wasn't until we got married then we started... That is a critical conversation to have before deciding if you want to spend the rest of your life with someone. Because it's a... It is a strainer on relationship. Finances. We're in a capitalist society, ladies and gentlemen. Like, this is...

This is a big part of a marriage. Just because it's awkward to talk about and it's separate at that point doesn't mean we don't talk about it. Let me take a quick detour from our usual money talk because I've got something equally important to talk to you about. What happens when life throws a curveball and you find yourself injured? Now, if you're thinking, Caleb, injuries, what's this got to do with finances?

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So if you ever find yourself needing to stand up to the big guys after an injury, you can check out Morgan and Morgan. They've made it super simple to start a claim. Just the click at forthepeople.com/caleb. You can also check out the link in the description below. Thanks again to Morgan and Morgan for sponsoring this episode. Oi, okay, okay. So on this Wells Fargo, what do you have? You have 4,120. That's not a insignificant balance by any means, and 54 cents. The minimum monthly payment of 42.

You're purchasing. It's a 0%, but you're purchasing. You're just putting a higher balance on it. I believe that's just... You put a big payment towards it. Yes. But you're still purchasing. Why? I think it's just for a storage unit. That's about it.

So you guys did not build a big enough house. Really? You have three acres and you're paying for a storage unit? No, the reason I got the storage was because... Okay, so from the beginning. We'll start from the beginning. So the credit card was open because of a business that I wanted to start. What business? It was supposed to be a coffee cart, like selling espresso drinks at markets, like outside. Okay. Yeah, so that's why the credit card was opened.

Okay. But then I got really busy that I couldn't keep up with it. So I sold almost everything. However, How much did you make? No. What? No. It was so busy that you sold the business. Yeah, I couldn't continue it. It's not that I didn't want to. But if you sold a successful business, I didn't sell the business. I sold the supplies. The equipment. The equipment. How did you not make any?

I understand not making a profit because it's like used but what did you get from the sale? No. How much? Really nothing. How? You just gave it away? No, I sold stuff. How much did you get? Like just $2,000. But you spent $10,000? $10,000 what? $1,000? Yeah, the supplies. I mean you can just mention the espresso machine. Yeah, the supplies. Yeah, the espresso machine. Like ingredients. How much was it? Oh, I don't remember. $1,000.

Like, it was like $2,500. How'd you get too busy? Too busy with what? I got a job. So this wasn't working very well? No. Yeah. It's just that I still needed a job. I still had stuff to do. So you weren't going the entrepreneurial. Okay. No. No, that was just like something on the side because I had all the free time. A $10,000 side. Yes. Okay. And...

You ended up getting a job, so you sold it for pennies on the dollar. Yeah. And then we still have the big card. Yes. I mean, the promotional balance ends in October. October's going to be here before you know it. And we're already at June. Yeah. And I could have paid it off, but I used it on his credit cards instead. Used what? The money that I had. The money that we had. But I got rid of three of his credit cards instead of paying him off.

I had like $6,000. And you used $6,000 to pay off his debt going into the marriage? Okay. Yeah. What was the strategy behind? Because you put it at the 0% card. Okay. Yep, it was move it storage. Yes. And that's all that gets charged there, but I don't use it for anything else. It's just move it storage. $92 a month? Yeah. Again, three acres. We were able to build whatever we wanted. No, no, no. The storage was to put all the equipment in. So you still have more equipment?

- I share it with my parents. - Some personal stuff. - It's personal stuff. - Do your parents give you money for it? - No. - Then sharing it with their parents. Why aren't they paying in? - Because my parents work at Move It Storage and so they get a discount and because they're giving me the discount, I just paid that 'cause it would have been more expensive. So it's a manager discount 'cause he works there. - You also-- - My dad. - I'm being told from the producers, you didn't pay 6,000 to the cards, you paid 6,000 to your parents.

that's a different 6 000 you had an additional it's an it's some yeah this is a mess guys this is a mess no where was the six from where was the total 12 from uh so the six that i gave uh to on his cards um that's from wedding gifts oh my gosh and the other six the other six was for my savings that i gave to my mom okay for the wedding you built the savings up however long how long

How long it took me to make the savings? A year. Like years. And it went to your mom. Yeah. For the wedding. I was going to start agreeing on this. Where'd you get $3,000 to put on this card? $5,000 to put on this card. Where'd you get that? I don't remember. No. No. Where'd you have $5,000? I don't remember. It's just... What? What?

I don't remember. Even Bezos I bet knows where he gets $5,000 from and just spends it. That's an insane amount of money. $5,000. Where'd you... What? What do you think about this, dude? From the other loan that we have? The one that he hasn't moved forward from? Just burned me like that. From a different loan so it's not even $5,000? Oh, from the $20,000 loan. No, I'm asking where this $5,000 came from that you put towards this card, please.

um for yeah from the 20 000 personal loan 20 000 personal loan yeah is there interest accruing on the 20 000 personal oh yeah yes and you put it you put money from a accruing personal loan to a zero percent card in what mathematical way does that ever make sense it was to zero percent and we i wanted to get rid of it but i obviously obviously something that's gaining interest

what wait we combined some other wait do you even know this yeah i know about this and what do you think you thought this was okay who decided this did you guys group decide this no it was me what do you think what's the interest on that personal loan interest rate i think it's over 20 oh 21 all five of that came from that yeah i was like leftover and this there's more to the loan

$5,000 at 0% and you literally traded it for 21%.

What are we doing? What the f***? What logic was there? There was no logic. There was emotion. You wanted to get rid of this. What was the thought? What was even the thought? What was the thinking? Getting rid of it. What? But what was the logic behind the way you did? I agree, get rid of it. But on 21%, what were we doing? I don't know. I just thought that it was like... No, no, no. Tell me.

Tell me what was the logic. We wanted to combine other payments all together in one. We consulted. But it was 0%. No, yeah, that makes sense. Oh, it's like me. It's like taking...

I have a 3% mortgage on one of my rentals. It's like me taking that and taking the balance of that and putting it towards something that has like 25% interest instead. It's like getting a 25% interest mortgage instead. Who would ever do that? Yeah, I could have given the $5,000 back to the loan. What? Like that would have been a better choice. Yes, you could have.

but i think it's because i just one of the most insane things i've ever heard in the history of the show and that is uh that's a statement because we record a lot of these things am i gonna die no that's just one card too that's crazy you proud of that no you're smirking a little smirker it's uh coping a little cope smirk get them all the time

You're not credit card people. Use the f*** his card, dude. I think I'm okay. Use the charge card. I think I'm okay with credit card usage. But that doesn't make any f*** sense. You said this was your card? Yeah. And this card had a massive... And the card had a f***ing $10,000 balance. One card. Hey! It had a $10,000 balance and you literally paid it, transferred it to a 20% debt. And you want to say right here, right now, that you're okay with credit cards? Just one card. What?

It's $10,000. It's $10,000. What do you do for work? What do you do for work? I am an assistant manager. How much do you make? It varies. How much do you make a month? Average? Net? What hits your account? $2,100. About a month. So five months of your earnings is insignificant? Yes.

Five months of your earnings is nothing. That $10,000 card is nothing. It's a lot of work. Yeah. It's a lot of working. You're just like, it's just this. It's just five months of my earnings. It's just a half a year of my entire life. In what world is that anywhere near acceptable? We're trying to look at it. No. In a positive way. No. Why? That doesn't make sense. Let's live in the real world. Listen, it's good to look at things in a positive way. Yeah.

It's also okay to f***ing acknowledge reality. If you just look at something in a positive sugar-coated candy world, then you're never going to make progress. You're just going to lay around getting sugar high all day. You know, we're not f***ing... This doesn't make any sense. There's no sense that have just been made. It doesn't make any sense. Okay. Okay. $2,200 a month?

21. What do you do? What do you do? Me? I'm a driver. I drive a semi-truck. How much do you make a month net? What hits your account? A month, I make $2,400. I'm still blown away. Honestly, I'm going to get war shock PDSD from this episode. You just hit me with a nuke.

Oh, both of you guys together net make $54,000 a year? Yeah. Okay. I mean, through your earnings, you'll make more than that through the rest of your life just statistically. But as far as the household, you're definitely under the household median for the United States. Which I think is like $65,000 now. $65,000. But you guys are younger. Not in your 30s yet. You're like mid. You're like on your way. So...

It's not necessarily like terrible. I'm just like... And for your area, it's also a lower cost of living area. Yes. But... I know why I paid off his credit cards. I remember. What? What? I remember why I paid off his credit cards. I know, tell me. Because the monthly minimum payment was kind of taken away from what we had left over at the end of the month after all the bills were paid. So I figured attacking those, we... Were they the smallest debts? They were. So, but like... So you're trying to snowball? Yeah.

I don't know what I'm doing. I just know that by getting rid of those, we had like another 200 left at the end of the month. If you want to nuke my brain and give me a heart attack, apply. Apply to be on the show. CalebHammer.com slash apply. Continue. Sorry. That was it. Okay. Let's talk about a second card.

A second card. Who has the lowest card? That one should be mine. As you read all over it. I feel it. This is a man's card. I have a hole in the deep one too. Really? Yeah. Okay. Okay. What are we on here? Is this paid off? Yes. Was this one that was paid off through the thing? That was one of the three. Okay. It had no interest for 18 months. When was that supposed to end?

That was recent as of last month. Well, this one would have had deferred interest, it looks like. So... Oh, wait.

What was the amount that was owed right there? No, there was no deferred interest. But it was basically $2,000. What did we get to $2,000? Because, yeah, paying it off with this pool of money, that's great. But without learning anything, that could still f***ing learn. You can still bring it all the way back up. Wait, but you didn't pay it off, though, you said. You said you used the consolidation. Yeah. So this is, again, on the 21% interest rate of death. Wait, what the f***? $2,000 that was interest-free is now accruing interest? Yeah.

Oh my God. When was the interest going to end on this thing? Because you paid it off. Do you guys know when it was supposed to? There was a late fee. I don't know how, but there was a late fee before you even paid it off. So I really don't think we're learning any lessons. There was a late fee on here, guys. Late fee. Come on. A late fee. That's his credit card. Oh, so we're not together anymore. We're not combined anymore. No, we're combined. Which is why I paid it.

So we're combined. Wait. No, I don't give the monthly. Hey, if you want to see it, there it is. But I don't give the monthly payment. I just paid it off. Oh, there it is. I think this is for you. Let me see. Yeah, you did some 0% financing with Lowe's, but it's gone. What was it? What did you do? What did you do? I think at the time I might have been changing jobs myself, and I just missed it. No, no, no, no, no, no, no. What'd you purchase? What was $2,000 on the Lowe's card? Oh, we purchased our washing machines for the house from the dragon. Yeah.

No, but the washer and the dryer were gifts, no? They were, but we used some of that money for the wedding. So we can have money to pay people or pay whatever we had to pay for services. I purchased the machines on a credit card.

With the lows. Okay, so we were... My dad had given us money to buy the washer and the dryer. I didn't know money was taken out of there for the wedding. Where'd that money go? You would have paid it off immediately then. I went to the wedding. I didn't know that. How much was the wedding a couple months ago? I don't have a total because my mom was in charge of that. What? Who paid for it? My mom. And then she needed like another $6,000 so I took it out of my savings. I want to say it was about maybe... Who said... Who... When...

When we were planning the wedding, who said I'm going to pay for it? Who was responsible? Who was assigned responsible to pay for the wedding? And she was like, I need $6,000 for my 26-year-old daughter for this wedding I agreed to pay for, but now I don't have it? What the f*** responsibility is that? Yeah. Oh, that's... So you then... So the money from... Who's dad?

Whose dad gave the money for the washer dryer? My dad. And then you gave it to your mom? I didn't. Oh, I'm so sorry. That's okay. We bleep this real name. People use fake names. It's okay. We don't have to be scared of the name. We'll bleep it again. Oh, what did I say? No one knows. You'll never know. You gave it to the mom? To her mom? Yeah.

So you gave her dad's money to her mom. See, and I didn't know that. Did her mom even know it was the money from her dad? Are they married? No. They're divorced? Yes. Even better. I bet that would be Springer-ish. Did they know? No. Do they know? No. Your dad? Yeah. Your dad doesn't even know that the money he gave went to his ex? No. No.

He was at the wedding, at least. He was at the wedding, though. Can we call him? No. Okay. It was worth trying. That would have been... No. That was the little bit of drama that piqued my interest. Like, every once in a while, I have a little drama queen inside of me. And that would be interesting. I want to see how that would have... Played out. What would be their reaction? We don't know.

So you didn't know he gave the money? I didn't. Why did you give the money? Because she was paying for it. She was bringing funds together. She was bringing more funds together. What do you mean? She said she would pay for it. Or did she say she was fundraising? No, Pete. Is anyone doing in this family? Okay, we have a discover. Who has the discover? That one's also mine. Wait, no, no, no. This is a personal loan, right? Oh, yeah. That's mine. That's the one we're talking about. Is it in both of yours names? No, mine.

But we got rid of some good ones. Is this the personal one we were just talking about? The 20. Yeah. You 20. 21,749. Is that 21? Huh? I said 21. I thought it was 20. What are you guys? What are you guys? Hey, that's news. That's actually news. News? You signed up for it, news? That's crazy. I thought the 21 was an interest. Keep up that copesmark. Keep up that copesmark.

$21,749.41. We used it all. Yeah. That's good. It's funny. No. She thinks it's funny. She thinks it's funny that you guys are going to be paying off debt for thousands of years to come. And it's in a fixed monthly payment for a certain amount of time. Yeah.

Yeah, it is. A $695.10 minimum payment. That's great when we make $54,000 a year. Guys, at 22% interest rate of insanity, kill myself debt. Like that's just like ruin, ruin everything. You were not accruing interest on all those debts. And you were like, hey, let's instead lose 22%.

Because we wanted to bring all the minimums together. That doesn't f***ing matter. You're losing 22%. No, but we weren't able to make any minimum payments because of his motorcycle. His motorcycle was killing us. Thank you, Michael. Why do we live for a f***ing...

Motorcycle! That's what I said because he doesn't even use it. And then it's messed up now. Travel. Travel in... In a car. In a car? In a bus! Like, I don't f***ing care! It's a motorcycle ride. You know, every weekend. Yeah! What about the f***ing rest of your life?

Just one more cycle for the rest of my life. That's it. What do you not understand that you're at 22%? The best case scenario getting in the stock market S&P 500 is like 12% return That's if you're putting your money in the market and it's 12% on average 12% on average This is almost twice as much as that going right to the bank taking out from the bank new new It's a three-way marriage between you guys in the discover Okay, both of you getting pegged by the discover. Oh

The motorcycle's still messed up? He's not even done painting? Seriously, this is just a meme. This is just a meme against me. I'm in a nightmare right now, and I'm going to wake up, and I'm going to show up here and never have this conversation. What do you mean messed up? What's messed up? What's messed up? The front shock went out.

And it's like $2,000 to replace him. I'd like to pretend I was manly enough to know what that even meant. But just does it drive? It turns on and drives, but the front suspension is not working, basically. Should you drive it? No. Okay, so you're not doing your little... Weekend rides. Weekend rides. So to convene real quick, a thing we can't drive is what prevented us from...

being able to get out of debt easier and not have interest rate that wasn't vanity but because of it now it sits there unable to be used and we're losing 22 percent on our money every year on 21 000 all right did i summarize it correctly it sounds about right

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Why don't you buy it when you guys can afford it? If you're literally not able to make minimum monthly payments, you can't afford it, right? Isn't that how that works? Isn't that basic math? After the purchase of the property, I had a hard time paying it. Okay, then you couldn't afford the property then? I decided to carry on and see what we can do. So then you chose the property and you have to get rid of the bike. You have to make an adult decision. You're not f***ing

18 anymore you're 28 even 18 you're an adult with decisions to make you're not 12 anymore you're 18 make the big boy choices i don't want to sell it yeah i don't want to let it go yeah where i don't give a that's the that's the that's the those are the words of a child like that's that's not how this works if you can't afford it you cannot afford it

Did you guys at least talk about this? I did mention to him to get rid of it and he didn't want to. And that was it? That was the extent of the conversation? I still don't want to get rid of it. That's it. I'm keeping it. But if it were up to me, I would have talked about it. What the f*** is the point of this then if you're not willing to take any sacrifice? Be a f***ing man. Grow up. There's other sacrifices I've taken.

Yeah, like adding a 22% debt to you guys and f***ing ourselves over for years to come. Well, to be fair, he also has gone into debt because we needed to build the house too. So that was a huge hit. But we wanted a place to live. So...

And you couldn't rent because no one lives in renting places. I just didn't find it a good idea. I don't agree with renting because you're paying for somebody else's place. Sure, but right now, mathematically, it makes more sense across the entire country almost. Besides a few regions, mathematically, it is cheaper to rent right now.

But cheaper to rent? Yes. Yes. But you'd never own anything at the end. No. What do you mean at the end? Are you guys dying next year? I mean, look, we're paying into interest. Paying a monthly rent is paying to nothing. They're going to pocket whoever owns that place. It's cheaper right now on a monthly basis per square footage across most of the places right now in the country to rent.

than to buy because of where interest rates are and where property values have not fallen to the point where it offsets the interest rate hikes. It has not adapted because people are holding out of their properties. Inventories across the nation are not at the standard monthly allowances of how many homes are on the market. What's your minimum monthly payment on this property? $1,500 a month. I know for a fact in your guys' area, you could have gotten a two-bedroom for like $1,200. Yeah.

Mortgage house? No, a rental for two years. Guys, if you can... In any way, it just really comes back to if you can't afford it, which you've admitted to not being able to afford it because you couldn't afford the minimum fee payments. If you can't afford it, you cannot afford it.

So it doesn't matter if it makes more sense financially having a mortgage eventually over the course of a long period of term, which, by the way, none of your payments are going to pay off the principal right now anyway. It's all going to interest. So it's not like you're making any progress anyway. Get a mortgage later down the road. We're planning to refinance it hopefully sooner than later. What interest rate is it at? Well, we're just planning to look into it. What interest rate are you at? The interest rate on the property is like 12%.

Guys, mortgage rates are like at 8%. What are your credit scores? Well, it's owner-to-owner financing. Oh, that's right. That's right. And they swindled your lives. I'll be honest. I did not think this conversation was going to go this way headed into this. I'm almost impressed. Wow. I'm happy with the house, though. Oh, fantastic. Great. I couldn't be more happy for you. It's cute. Oh, great. That's awesome.

Why did we do owner financing? At the moment when I purchased a property, I was jumping from different jobs and then I didn't have the job history in order to get a mortgage for the property or a building mortgage that would be. How are we doing this refinancing? How are we getting this mortgage?

You just give a down payment of $3. I know how that works. How are you guys doing it? Like, what are you planning to do? What job history? You haven't been in a place for two years, but you can prove two years of job history. But what about you? Are you guys going to be on it together? Are we doing dual? Okay. Obviously, our debt to income ratio is not fantastic. Have you guys gotten pre-qualified? No, we're almost at two years. What's your credit score? My credit score right now is at 630.

What's your credit score? Last I checked, it was $695. Yeah, if you can qualify, you should get a better rate, maybe like 10%, 11%. Why are we trying to refinance? For the better rate? For a lower monthly payment and less years, of course. What's the term for this guy? It's at 30 years right now. So you want to do like a 15-year mortgage? 15, 20. Why?

It's a lot less years. Like if you make the math, 30 years, we're going to be paying a lot of money. Yeah. But also if you're just at a normal interest rate in general, like, I mean, I'm assuming that let's just say you even get at 8%. I assume if rates ever go to like four or five, you're going to refinance to four or five. Even if still, if you're doing that over the course of 30 years, put the money in the market and makes twice on average. So like, where's the math working? And we're just not math, math, and math. Okay. So we took out the personal loan. No late fees on this one.

It's a 21%. 22% interest. Discover it. Who has the discover it? Whose name is under it? Because I have a... We both have a discover. That would be Michael. This is mine. So we did not pay this one off? No. No, we haven't. At $10,656. That was to build the house. To finish the interior of the house.

On a credit card? We don't got the money. Okay. She just said, what did you just say? What'd you just say? Because we didn't have the money. What does that mean? Can someone tell me what that means? The frame house wasn't completely finished. We still need the interior. No, no. Can you tell me what she just said means? To say it again. To charge the credit card. No, no, no. Say your statement again.

That we didn't have the money. What does that mean? That means we couldn't afford it. So what the f***, guys? Well, that's why we have the credit. So we can buy the things we can't afford. Who wanted to come on the show? She did. Okay, so do you know much about the show? I don't. Thank you, because if you did watch the show and you said that, I would have gotten the baseball bat from the other room or the taser, and I would have stunned you and then beat you. Oh, man.

Yeah, we don't use credit cards for things we can't afford. I mean, this is overall bad finances 101. I mean, you're using someone else's money and then you're paying it back with interest and minimum payments are stacking up. But you will get a house out of it. A livable house. A livable house that you guys both admitted if you sold, you're getting a loss on. That's if we would sell it. We're not going to sell it. We're not going to get a loss on it? That's what you said. Yeah, well, you build a house for $38,000, but it doesn't mean you're going to get $38,000 from it.

Once fully finished. It's essentially a used thing if that's what I'm thinking. Yeah, yeah, yeah. You know, it's not like an actual house. Like not from the full amount because, you know, that's besides the $38,000 the house cost. We still needed to put $10,000 into it. You couldn't afford the guys. When you went and got the property, you could no longer afford your minimum monthly payments. And then we went and got a credit card to finish up the home. You guys have just walked into just the absolute just you have not. You've just your finances. Guys, OK.

Sorry, I'm just a bit taken back. That's an interesting $10,656.11. How'd she convince you to come on the show? It was an argument.

Really? I didn't want to come in the show. Oh, well, thank you for being here. I'll be easier on you because of that. Thank you. He doesn't know the show as much. Did he watch the onboarding video, Elise? No. Why do we send people that? No, I watched it. Why didn't you watch it? She didn't tell me about it. Girl, did you not want him to know what he was signing up for? No, no, yeah. He's seen snippets.

He's not absolutely oblivious to it. She plays your show when we're in the kitchen. I play it in the kitchen and I'll have it. Let's see it. And he's there. You're saying DoorDash a lot. Don't worry. You're not going to see that here. No, but what he's going to see is McDonald's, McDonald's, McDonald's. From my Riley credit card. Oh, Riley's debit card actually. Don't go easy on him. He knows what he's doing. But you're not afraid of death the way that I think. No. No.

Why? Because if you don't owe it, you're never going to have anything. You got to go into it. Why? If you hesitate, you're not going to have anything. See, I agree with him to that extent. Hold on, that didn't just make sense. Yes, you have to be into debt to move up. If I was scared to buy a three-acre property, I would have never had it. Okay, you're talking about taking advantage of leverage. It is kind of what you're talking about. Like getting a mortgage on a property is kind of what you're talking about.

to get up to get ahead is that what you're saying no like you mean you have to go into credit card debt to get ahead well yeah no one's ever said to own it you don't think that you've watched the show you do not think that to a certain extent i kind of do no yes how how does that make sense you're losing value on it you never get anything if you don't go into debt at least a little bit like

That's no. We agree in that. But so you both agree to be done. No. What are we doing? So why can you not buy things? I understand not being able to buy a house in cash. I absolutely understand. I understand. Exactly. You don't go into credit card debt for a house, though. I mean, you guys did somehow. But most people, well, you're not supposed to. We're purchasing material to finish it. I get that. Yeah. But you're talking about that. You can't go into that. You have to go into credit card debt to get ahead. Is that what I am being told right now?

To own it. Yes. Is this what you think the average home buyer does? The average person has debt. Has debt, but you think they go into credit card debt for the house to finish a house? What's the difference between that and a building mortgage? So if you're talking about, so you can do some kind of loans, right? You can do some kind of loans where there's a house that is valued at $200,000, but it's really out of date.

So if it was completely up to date based on comps around it, it could be worth $500,000. What did I say? It was worth 200, 200 in its current condition could be worth 500. Uh, but if you put a hundred thousand hours of work into it,

Meaning you spent $300,000. It would be worth that $500,000. So you could get essentially a mortgage of that $300,000. Some of it would be a renovation loan, but it would be all put up into the mortgage after it's done. Meaning that you owed that $300,000 on now what it's worth and appraised at a $500,000 house. Okay. You put this on a credit card.

That is different. What's the difference? Those are usually assessed at just normal mortgage rates, say 8% right now. This card and credit cards are usually, buddy, some of this is a 0% that's going to end in a couple months. Some of it is at 30%. And in a couple months, it's going to be at 30%. 30% versus 8%. There is a gap there.

people do not have to go into 30% debt to get ahead. In fact, it is not going to get you ahead. Why? Because most of any investment real estate, it's going to, you know, it's going to go up 4% a year on average. So you collect rent, say you even get the best cash flowing property, maybe 12% cash on cash return, include the increase in mortgage. Let's say, or, and, um, value. Let's say you're getting at the best 16% a year. Still that's half the interest rate that's on here. So you're not getting ahead. Um,

You're getting the bank ahead. You're not helping yourself. There is good leverage. There is good leverage. And what is good leverage? Things that you can easily afford in your minimum monthly payments. Things that have 20% down payment on like a mortgage. Things that have low rates that you're beating that interest rate in other investment opportunities. You're not beating this in other investment opportunities. 30%. Name me an investment that on average gets you higher than 30%. None. Okay. Okay.

So no, your logic is completely flawed, guys. No one, to my knowledge, to my knowledge, maybe I'm just, call me out, but no one to my knowledge has ever said you need to go into credit card debt to get ahead. I've never heard that once in my life.

Not once. And I've read a lot of the finance books. Once the house is finished, the value of the house goes up along with it. You haven't even talked about brazil. You said you would sell it for lower. No, that's when you have to sell it after you paid it off. But you can get a loan out of it.

Oh, that's even worse because then you're over leveraging yourself. Then you're getting a loan that's higher than what you could sell it for. You get a property and a house mortgage after because the house is already there. You go refinance. But if you sell the house, you would still lose on the house. No, the house stays there. But if you sold it, you would still lose on it. Yes. Okay. That's also not an investment because you just lost money. Guys, what are we doing? What are we talking about?

I understand what you're talking about in getting a collective mortgage on the property and the house itself. But if we're putting money at 30%, which you're already losing 30% on this in a couple months, so there's that. Plus, you're also losing value. It's only worth what you're able to sell for it. And if you're selling the house at a loss, then let's add another 10% on this. This may as well be 40% interest. You're making other people money right now.

In reminder, just a reminder, we couldn't afford this in the first place because we had to consolidate our debts in order to get a minimum monthly payment in a better place that we could afford. But in reality, we also made it worse for ourselves long term because we put it in an interest rate. You guys are so newly married and you've gotten yourself into a situation that's beyond more dangerous than you could ever know. Where did we learn that you need to get credit card debt to get ahead? I need to know this because you both agree on this. I just thought that's the path forward.

Where did you learn that from though? Just, I just saw the path. I saw that's how to, I could, I saw that I could put it off, pull it off like that. If I couldn't get a low mortgage to build a house, I decided to use my credit cards to build the house. Where did you hear it from? I didn't, I didn't hear it from anyone. Just things, just things I've seen or like experiences. Like, what? So like if, um, I mean, no one in specific, just living. Great example. Um,

So basically, I kind of came to that conclusion because if you need something expensive, it's very hard to just have that money laying around to go and buy it. Something you need. Like what? Like a house or something. Okay, a house. Mortgage. Sure. Yeah, use a 30% credit card. We're talking about an 8% mortgage.

So the problem is because it's on a credit card, not because it's the actual house. Yeah, I don't... There's not many... Even Dave Ramsey was the most anti-debt person to get a 15-year mortgage. He's even talking about it. He talks about paying it off early, which makes absolutely no sense, but that's okay. I took it as just debt in general. I didn't think it mattered where. What other expensive things? Just anything. Even if you scale it down. Even if you scale it down. Okay. Okay.

Piece of a new MacBook computer or a new computer. That's okay. That was on the Best Buy. Yeah, that's okay. I mean, that's what we did and I paid it off. You didn't pay it off. I did. The Best Buy. You haven't gotten to the Best Buy.

That's one of the three cards that she paid off. Did you pay it off or did you use the personal loan? No, I paid it off with my money. What money? We haven't talked about this. It's just income. There was more savings. Our finances are obviously mixed up. Guys, this is such a mess.

Okay, so we have a little bit of interest on this and there's gonna be a lot of interest on this In fact, let me give you just an estimate because you're only putting the minimum payment towards it So it's not like you're doing really anything extra. Let's say in a couple months Actually, it'll be about $10,000 on this in that yearly basis You'll be paying $3,000 in interest a year on this card. You're losing $3,000. Okay, who has the city simplicity?

That one should be also mine. I paid that one off. That's credit card number two that I paid off of the three. So you paid off the $5,909 with a personal loan or a savings? Personal. Then you didn't pay it off. You transferred it to another debt. And what's interesting about this? You took another 0% interest one. No, no, no. At least the other ones had... No. No.

The other cards that you could have... No, no, no. Not with the personal loan. No. It was with the wedding gifts. How much wedding gifts did you get? Quite a bit. How much? $6,000? $6,000? This was $6,000.

And you said you paid off something else with the wedding gift, so math isn't mathing once more. No, no. Shocker. But I was still working. I mean, I'm working. I put a little bit of money on set. You're telling me this is paid off right now? Right now. This is at zero? Zero. Chop up your cards. You guys cannot do it. You see, that's what I told him, but he gave it to his dad. You told Noah two hours ago that this was not paid off. I don't know if the mic could hear him.

two hours ago on the phone i might be confusing with oh that's what i told you no no it's this one sorry wrong card oh the one with a much smaller bounce rewind are you saying so this one still has a bounce yes that's why i didn't say anything because i didn't know it was paid off when do you guys think that this uh ends when you guys think the intro rate ends on this that one maybe by august i i think that one's mine yeah when do you think it ends

by august you think i say okay what do you think it is i don't know anything about it yeah it ended three weeks ago two to three weeks ago oh that's the one you mentioned in the beginning guys this is 59 dollar minimum monthly payment how are we gonna survive guys you know this we're headed straight to bankruptcy at this point like you guys can't even like answer questions you don't even know what we've paid off you think going into credit card debt is the only way to get ahead uh what's the interest rate on that one what do we think it's at guys

What do we think? 27%? I don't know anything about it. 29.99%. Oh, yes. I paid that one. The Home Depot. The Home Depot. The smaller one. Yes. With the wedding gifts. Yes. Do we have any of the money from the wedding gifts anymore? No. You said you're saving zero. I'm glad I at least went to pay off that. Let's celebrate that out of this insanity. That's what I'm saying. Okay. Don't get too excited.

Capital One, Save Your One. Paid off. Okay. So the small balances. Yes. Okay. But there were purchases here anyway. There was $300 of Amazon there and $260 of Amazon there. What did we get? There were things for the wedding. From Amazon? But your mom said, guys. No, no, no. These things I was responsible for, like the lights, table covers. There were some things he did cover.

But it's paid off. I just want to do an example. I'm just trying to think. I'm just trying to think. Because do you guys have anything in investing? Stock market or anything? I have. My work one. 401k? What about you? I bought some Shiba. Oh my gosh. I'm just trying to think. Because of the money that you guys...

If you were going into this marriage debt free and you're able to take those wedding gifts and put it in like, I don't know, I'm trying to think. Like my favorite investing platform is MooMoo. It's what I personally use. If you did that and you were able to just put it in there and start the marriage off with that, it would be, it would just be growing, guys. It would just be growing. But instead, it had to go to payout. And then you got some low stuff in dollar general stuff as well. The interest rate of this one was over 30%, guys. That's me.

What is it? So you went to school? I did. What did you graduate with? I'm currently still. You're in school? Currently. What are you studying? Social work. Okay. The income's actually doing better in that field these days than it has historically. You might need a master's though, right? I'm on my master's. Oh, okay. You're in your master's. Yeah.

What? Has this been a conversation of he doesn't want you to do that? No, we just had a conversation on whether I wanted to actually get a career in it or not. Do you want to get a career in it or not? It's been a huge question. But you're doing your master's and you don't even know? How are you paying for your master's? Are you taking out debt? This is the current debt. Are you taking out more besides this? That should be it. If anything, maybe it's another five. Oh, just another five. Okay. Guys, that's it.

just add it to the pile yeah so we don't we probably don't know what the interest rate is yet but it's probably actually probably not great right now the minimum payment you'll probably get on like a public student are you gonna do public i don't know i don't know but there's no minimum payment right now so it doesn't matter on one of the discover cards by the way that we went through water burger amazon amazon amazon

$129 there, $21 on another Amazon, $64 on another Amazon and Whataburger. Yes. Can I see the Amazon account that's being purchased? Can I see the purchase history? I can bring it up if you really want. Do you have your phone on you? Yeah, I have it on me. Okay. Yeah, yeah, yeah. That's my V-phone. So you said you paid off the bike as well? The personal loan. With the personal loan. With the personal loan. What was the minimum fee payment on the bike? What was due on it? It was $227 a month.

What was the total balance? It was due $7,000. $7,000? Yes, that was the due. What was the interest rate? The interest rate on it was at 7%. It's not great, but what am I going to say? I know. Yeah. What? We traded it. For 22%. Okay. But it helped us monthly, like save money. Waterslide? You guys have a kid? No. Who's going down a waterslide, guys? A waterslide...

I'm trying to make a side hustle with it. Gas kicked out. What? What? Renting the water slide. It actually goes hard where we live. How much was the water slide? $1,600 a month. I'm sorry, $1,600. A month? You scared me because I was about to say I didn't know that. I was in the house mentality right now.

Well, have we learned, guys? No, it's going to work. Sure, it's going to work if he knows how to market it, if he's able to take time away and take it to different places and do all this other shit. Okay, it got delivered towards the beginning of this month. How many have you rented? I haven't rented it at all. Oh, interesting. Okay, well, it's because he's not advertising it correctly. Oh, yeah, here we go. No, no, all right.

Come on. Shut up. That's so dumb, guys. And then some cooktop? What are we cooktopping? It's to replace my mom's cooktop. Should I make money? No, that's just for the house. For whose house? My mom's house. Did you not make money? I ordered it. They actually pay for it. I just ordered it through my Amazon. You have a point. TV dresser, matching bed stands, wall mount, PC fans. Who has a PC? I do.

Okay, what do you play? Recently, last month I played Hill Divers 2. It was very fun. Some dresses and stuff. Dresses? No. Those dresses were for the wedding. My mom's wedding dress. What was she used for her wedding? Not hers. So you still have the bike.

All right. Yeah. What's it worth? Have you ever checked what it's worth? The used market value is like at $9,000, $10,000. You could change your whole family if you're willing to like literally be a man for a second. Okay.

If I were to sell it, I would just buy another one. I might as well just keep it. It's already paid off. Why would you buy another one right now? It's not paid off. You transferred the debt. Okay, but if I were to sell it in a couple years or months, I would buy another one. A couple years, sure. We might be out of debt. We might have a fully funded emergency fund. We might have caught up on retirement. If we can do that, yeah. I'll miss out on the weekend ride. I don't give a shit about your family.

you have so much a day you shouldn't be doing weekends and drives you should be working you should be working you should be working my requires me to be there from monday to friday yeah you're getting another job you're getting another job guys you can't afford your bills we're getting another job let me gift you a certification through course careers get it just a sales job at home a tech sales job anything do anything my how do you even suggest that you have weekends with the financial state we're in guys do we not even care do you want kids are we having kids

We want kids. We want kids. Not like this! I do admit we have to fix some financials before we decide to make some kids. Do you have any other motorcycles? Things like that? Is this an only child of a bike? I have a dirt bike and a four-wheeler. A dirt bike and a four-wheeler? Yes. How much are they worth? Together, you can bring out like $3,000. They are used. Yeah. I had it for years.

okay anything else any other vehicles i have three vehicles for like they're under my name three vehicles are they there at the house uh one of them is where the other two um one of them is in my parents garage and the other one my dad uses i don't try to use it as much okay the one that's in take care of it one that's in your parents garage how much is that worth that was twelve thousand dollars how much is that ever used

I used it to come here. Rarely used. Just for travels and maybe... What about the other one? The other vehicle? The ones at our house? Yeah. Is that your daily driver? That was my daily driver. I call that a work truck. Okay. That's fine. Well, how much is that worth? That was like $4,000. Oh, my... I haven't even gotten a checking account. This is a long episode. It's okay. It's okay. It's okay, guys. If you're a daily driver, sell the bull... What did we get?

wow you can pay off the personal loan you can pay off the personal loan and you can pay off half the wells fargo card just by getting rid of your bull your fun things your little toys your little hot wheels guys that changes your life and you're literally not willing to if what's the point if i were to buy another one be okay in a few years when you can afford it or just be a i have it already but i have a title on there guys what is not what is not coming through here

No, I understand. I just don't see the logic of buying it again later on. I already have it. Guys, guys, guys. Okay. Let me explain. Let me have a little explanation. Those cars are not going up 12%. They're not going up 22% a year in value. You have debt that is going, that is taking 22% from you a year. Okay. Take that debt. Take your little toys. Pay off the debt. Boom. That's gone. And all of a sudden you just saved yourself 22% on that money.

Then you're like, okay, but I'm going to go get another one. Yeah, go get another one when you can afford it. When can you afford it? When all your bad debt is gone.

And when you have a fully funded emergency, guys, you don't have a fully funded emergency fund. What happens if an emergency happens? No one's even able to answer that question. That's why I tell her not to spend the savings on cars. It's not about spending savings. Come on. You can pay off the biggest debt right now. Come on. About the whole emergency thing, the emergency fund, his solution is to use credit cards. That's what credit cards are for. That's not what credit cards are for. That's what I told him. Because you're in an emergency. Yeah. So you need a large amount. We're going to get it.

V an emergency fund. We don't have one. No, because you have all the toys in the world that you're not willing to get rid of because you're not willing to sacrifice. You're never going to get anything good. You're never going to actually get financial stability without any sacrifice. Good guys. It's literally just growing up. You're basically the same age as me, dude. Being an adult. You're 10 years into it. This is sad, infuriating, disappointing, sad.

I'm going to be candid. It's scary for the marriage. She might want to get out of debt. She might want to do all these things. The fact that you're not willing to make a simple sacrifice is very telling and selfish. Rally. Credit union. $31 available. Wingstop. Wingstop. Jack in the Box. McDonald's. Raising Gains. Asian Bistro. Nike. Go inside and get in some bulls**t.

What is the Sunrise Canteen Military? $3. Probably going inside and getting some bullshit. Getting some drive-thru. $5. $6. Golden Chicken. McDonald's. Dutch Bros. Church's Chicken. T.O. Meat Mark. Dutch Bros. Wingstop. Wingstop. Another drive-thru. $5. Drive-thru. $17. $17.

Guys, what are we doing? We have 22% debt. We literally couldn't afford our minimum monthly payments. And we're going to Wingstop every second of our life. What is actually happening? What is actually happening? That is unacceptable beyond belief. I apportioned a part of my paycheck to that Reddit card for food. You can't afford it. It's just a portion of it. Yes, it's a portion you cannot afford. It's a portion you cannot afford. And we just leave the rest for the bills. Oh my...

You're the one that wanted to come on. I do not know what to do. I don't know what to do. If we're at the point where you literally think going out to eat is even somewhat okay in this financial situation, I don't even know what we can talk about at this point. After the marriage, I have to cut down. Cutting down doesn't matter, buddy. Be an adult. Be an adult. Make a sacrifice for your marriage. Good. I don't know what to do.

Is this the current balance in the savings? No, you said $0. So obviously that's gone. Right? Um, yeah, that's gone. We use it to pay it off a credit card. Right. $247 in a checking account. But we think we can go out to eat when we have $247. Oh, good. We're getting burgers. Whoa, wing rings. This is cutting back. The spot. $52. Cash haven at $5. Starbucks. So we think we're getting Starbucks when we can't afford to live. Have minimum payments. We can't afford McDonald's. Amazon.

Amazon. Amazon. Amazon. Amazon. Cash-happing out $400? Where the f*** did that go? Good question. Where did those $400 go to? Noah said he got me a gift that he's going to give me in the post-show for all those who subscribe to that. Maybe that he says it'll make me feel better. I hope so because I'm going to f*** this thing up. This feels like someone gave me a gift like s*** on my table. Except less stinky.

Good bundle.com. Good bundle.com. That's video games, isn't it? No, it's an installment thing for bills. No, the good bundles. It's for the light bill. It's like a small subscription to get a cheaper plan rate for the electricity for the house. And it's just $10, isn't it? Twice. $10 twice. Oh, the other house is my parents' house. Why are you paying for their... Dude, you can't afford life. When do you want to have kids?

This does not happen unless you're bringing them into a really bad situation. I see a path forward. Where? Because I don't see it. Like I said, once we refinance the house and property, we will stabilize ourselves. How? How is that the answer? I will bring down the monthly payment. You think that is the thing that is killing you after all of this? I didn't even put that in your debt yet. And you think that is it? You think that's what's holding you guys back? Well, you bring down the monthly payment. That leaves more money for the credit cards. Of the mortgage itself?

Buddy, not with your spending. You spend more money than you guys make. I've cut down since we got married. I'm not spending as much as I am. If this is cut down, then I don't want to f*** you what was happening before. Because this is after you guys got married. And don't worry, there's more. McDonald's, cash-happing out $10. Amazon, music, Amazon, cash-happing out $12. This is cutting down. This is a f***ing joke. Spent $453 going out to eat. That's cutting down? Good job, guys.

453. How much is your phone bill? It's like 3% of your spending. 4%. 5%. 185. Guys, we own on our phones, don't we? Yeah.

When you're done with that, switch to helium. It's 20 bucks a month. You get the same f***ing hell of a tower as you guys get. Come on. We gotta save money. Y'all gotta use my favorite high-yield savings account where you can get up to 4.6% on your money plus FDIC insurance up to $2 million. You can also get up to $300 for signing up today. It's the personal high-yield savings account that I use for my money, so don't let your money be losing money while it's just sitting there. Click on the link in the description below and get those bonuses. Do you guys even know where your individual debts went?

Sorry, where the personal loan went? Yeah. Tell me. $13,000 for the house. That we still owe. Huh? That we still owe to the house. We owe $13,000. Yeah, the rest, the balance. So $13,000 went to the house. $3,000 went to the motorcycle. The rest went to my Wells Fargo credit card. I had $5,000 in my savings and I bundled it with the $3,000 to pay off the motorcycle.

to get rid of that besides the motorcycle they were all if i'm not mistaken at zero percentages we've now exchanged them for 22 percentages which is a bigger number the monthly payment was i get the monthly payments it's because you got things you couldn't afford so that's when we would have made sacrifices and we would have worked more and we would have tried to pay them off so almost the biggest you guys went the easy route which isn't even easy because you made yourself really in the end a worse financial spot how much what's the what's what's out on the property

Is it under both your names? Yes. No, it's just under mine. Oh. The property? Yeah. How much? What's owed to the owner-seller financing? More than likely $115,000. $115,000? Yeah, because then... And what's the monthly payment? The payment doesn't go into the principal. Wow.

What's the minimum monthly payment? Like $1,500 a month. And it was at 12%, right? Yes. Okay. Is there any loans out other than the credit cards? Is there like a separate loan I don't see out for the building? No. Okay. If you sold the building, what could you even get for it? As of right now? Yeah. We can get $44,000 for it. You have to add what we finished from the inside from the Discover card.

So it's 36 plus the $10,000. And 13% went to 0% financing from your contractor, right? 13,000, right? Yes. The personal loan? Correct. Well, because you switched that from the personal loan, in the end, if you paid over the same period of time that you were going to pay over the three years, the contractor, you literally just charge yourself an extra $3,000. And you can see that example here and how that interest works.

Now I know you saved $1,500 by paying them off early, right? Wasn't that the reason why? That's how much we saved, yes. Yeah, but you didn't save anything because you cost yourself. If you paid off in the same period of time, $3,000. So you saved $1,500, but you also added an additional $3,000. Did we think about this? We thought we had. But the thought process behind this was to combine the... Consolidate. Consolidate some parts. I want to give you some kudos. You were right.

wealthy people use debt to get wealthy. A lot of wealthy people do. You guys are not doing it like wealthy people. You guys are using debt in the worst ways possible. You're exchanging everything for interest rates that are beyond unaffordable for you and are you and things that aren't even going up in value other than the property itself. But the house on it goes down the way you got it. Guys, you are not debt people. You do not know how to use debt.

Before you ever go into debt again, you need to close your accounts. Before you ever go into debt again, you need to read as many books as possible on how to actually utilize debt. You need to become learned real quick because whatever life experience you used to go into this has gotten you into one of the worst financial positions I've ever seen. This is crazy. And I don't even know what to say because you're not willing to make sacrifices by cutting down food more than you already have. You're not willing to make sacrifices by paying off the debt.

You don't even know what your financial situation was. Your solution to the finances were exchanging everything into a 22% interest from 0%. So, like, I don't even know what to do here. Do I budget? I mean, the producer's getting angry when I don't make someone a budget, so I'll make you a budget. But, like, I don't think that's even the issue. You're just not willing to sacrifice, guys. We're literally not willing to do... You could pay off the bad debt today by getting rid of some poise. Some Star Wars G.I. Joes, essentially, of the adulthood.

Be a f***ing man. So the total income, again, is $4,500 a month. So the mortgage is $1,500. Utilities, what does that cost on a monthly basis? That's not a lot. About $100. No, $200 with water and electricity and Wi-Fi. Okay. Do you have any kind of insurance on this house? No. Why? That's risky. I know you don't need to, but... I haven't gone to get insurance for it.

You guys are beyond Tornado Alley, but it doesn't mean like hail won't happen and sh*t. I was thinking of getting the insurance after we refinance the house and property. Because we have to in order to get it. Phone bill? What was that again? It was something crazy. $185. That's f*cking insane. Do we have any car payments now? Thank f*ck. Y'all keep student loans aren't... Your student loans aren't accruing interest or having minimum monthly payments right now because of your situation of being in school. Debt minimum monthly payments outside of the mortgage, we already put that in its own category.

$1,010 a month. Gas, driving. How much do we spend on a multi basis? - 50 a week. - For both? - I don't know. That's just me. - Okay, what about you? - I spend like 120 a week. - On gas? - For both vehicles when I do use the other one. Actually, let's say 180 over a month, a month, 180 a month. - Hold on. That is drastically different than 120 a week. What is it? Give me a real number.

It's $180 a month. Okay, and then $80 for you. So $260. Car insurances. Total. Across the board. If we want to find another thing that we could have cut, by the way, before going and consolidating debt. And for our vehicles? By the way, you spent $330 on gas last month, so that's what I'm changing it to. How much? $330. Together? Together. Oh. Okay, so car insurances across the board. This is $180 for the three vehicles. Okay.

180 for you. What about the three vehicles? That's her vehicle included. You added me? Yes, I added her car. Oh, okay. Yeah, I have car insurance. 180. Do 180 plus 50 for her car. Plus 50? Yes. Okay, so 230. Groceries, guys, you can do $500 a month. Meal prepping. Follow the meal plan in the budgeting program that we're going to give you guys.

Take the budgeting program. Take the investing program as well that we just came out with. You guys need to take it. You're not there yet, but you can at least learn the value of money when it grows by taking that. So go through the classes together. Actually learn. You'll understand the value of the money that's actually growing when you take that, and you'll learn just how bad this debt is. Okay. TP Fund. Anything else you need to survive in life? $150. Medical healthcare. Anything? Gym.

Uh, she has gym. How much? Like 12. Medical healthcare? Minimum payments? Anything? Uh, I don't have any. Does medications count? Yeah. How much? Uh, $1.13 a month. And I ask what? It's expensive. It's not even medication. It's for my gut health. Okay. You got them nasty poops? No. I got them nasty poops. I don't have any. That's the problem. Oh. Can we trade? No. My stomach hurts. Mine does too. Okay. Okay.

It just gets nasty at the end of it. 125. Anything else you guys need to survive in life that's not in this budget that I have not mentioned? Any pets? No pets. Well, I do have a cat. Yes, and he does feed her. He just came to the house. He was just lost. How much? 50 bucks a month? No, less. Maybe like $20 a month. Oh, you got dogs too. They're not ours. They're not ours. Do you pay money? No. No.

The neighbor dogs keep on bothering the cat. Believe it or not. They come for the food. Believe it or not, but if you actually follow my budget, which nothing in this conversation indicates you will, because we are not aligned, to be very clear. We're not even close to aligned. You actually are under what you bring in on a monthly basis. Gives you an extra $225. $255 a month. I told you. And you did. I did. But this, it's not even due to the mortgage.

Even though it's at a bad rate, like a really bad rate. Let's not even throw that in because usually we don't throw in mortgages. I just want to give you an example of how things are going to look without making the sacrifice that you guys need to make. Let's not include the student loans either. So that's just an extra thing. I'd love to walk out with a plan, guys, but this is like... Is this really the worst you've seen or are you just being exaggerated?

In terms of messiest and just confusion and understanding, yes, it is absolutely the worst. 166 months is what it takes to pay off all the debt besides the mortgage and the student loans. 166 months. How many years is that? Oh, it's only 14 years. That's it. 114 years in your current situation without you selling your s***. Sell your s***, you f***ing man. But, you know what? The mortgage is terrible. It's a 12%. Student loans are not going to be at a great percent most likely in your situation, I'm guessing. So,

Throw those things on there. Let's pay off those as well. Guys, that takes 749 months. 749 months. How many years is that? Oh, we're paying off debt for the next 62 years of our life. So that's what's currently happening. That's what our financial situation. So I'm done. Like, I'm going to be honest. I have to stick around for the post show. That's okay. There's a gift.

But like, I don't know. You know the answer. I've said the answer a million times. Go get more jobs to make more money. Sell your shit. Get rid of the bad debt immediately. Be an adult. Actually sacrifice. Follow the budget. You actually do have real estate. You got a little dumb with it. So the score is not going to be good. I'm giving it a 3 out of 10. Retirement, you're contributing to your 401k. And you said you have something little. But I bet it's nothing.

Never mind. Okay, just you. It doesn't start until June. 1 out of 10. Great. Emergency fund. There's nothing to start. 10. Debt. It's ridiculous beyond belief. It's stupid. But you don't have any collections or IRS debt, so 1 out of 10. Spending your budget. Your spending was stupid. Wasn't the worst I've ever seen, but it is absolutely dumb for your situation. 3 out of 10. Hammer financial score. 1.5 out of 10. Make sure to check out all the resources linked in the description below.

They're what I use. They're what I would use in specific situations, including the best investing class you can get anywhere online. Now stick around for the post show. Today on the Financial Audit Post Show. I did get you this gift and I really put a lot of thought into this. Can you go ahead and...

and present Caleb. I was going to get it framed. Let's put it at the entrance so that everyone has to say good morning to Dave and good night to Dave. I like that. Like Ted Lasso. To watch the Financial Audit Post Show, click the Join button below.