Unhinged Newlyweds Destined For Divorce | Financial Audit
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To watch episodes of Financial Audit a week earlier, check us out on YouTube. We're married for five days, six days. Oh, and you're saying we're in this situation because your wife collects things? I think we probably would be less in this situation if a certain someone didn't have collections, we'll call them. The art that you see on her body is very expensive, but she has a pretty... That was sort of just out of the gate, just like...

Normally, what the heck are you buying and why are you still putting it on these credit cards that we sold things? Reasonable question. Hi, my name is Ellie. I'm 27 years old. Hi, I'm Joel. I'm 29 years old and we're based out of Phoenix, Arizona. And this is Financial Audit.

Thanks for coming down to Austin, guys. What do we do for a living in Phoenix, Arizona? We'll start with you, Ali. I am an admissions advisor. I basically help kids get into college. Oh, do you help people get into college? Do you lead them to majors that make no money? Yeah.

No, we do mainly business. Hey, I was led to that major. Mainly business. No, I got a degree in coloring. Yeah. Art degree. Oh, I have crayons if you'd like some. Thank God. And what do you do for a living? I work in tech in the law enforcement space. Oh, interesting. Yeah, they're based out of Scottsdale, Arizona. They make body-worn cameras and tasers for police officers. Oh, okay. Just don't tase me and then we'll chill. It's not fun. What do you make? You've been tased. I have. I have.

Oh, okay. Poor choice. Poor choice. Okay. Admittedly. And what do you make in this job? Oh, sorry. I should probably have prefaced that. That was like a company thing. That was like a... Oh. Yeah, yeah. Sorry. It was like voluntary exposure. I just realized that you were probably getting the wrong idea here, but no, it was an optional thing. If you're a criminal, you're a criminal. You know, you do. How much are you making in this job? I brought in $60,000 last year.

Nice. And how much do you make? About $48. Okay. So we are at $108. How do we feel moving on in Arizona this year?

It's definitely a struggle just because everything is kind of jumping up in prices. Jumping up in prices? Yeah. What's jumping up in prices? And by how much? Bills. Bills. Groceries, like, I think we're 12%. Like, when I was just looking at, it was the Bureau of Statistics, like, over the last five years. And we're, for whatever reason, 5% higher than the national average. Wow.

In Scottsdale, Arizona? Just Phoenix, Arizona. Oh, in Phoenix, Arizona? I don't know about Phoenix specifically, but right now, just year over year inflation, we're at, and sometimes depending on the report, below 3%. Right. So I think at the peak of inflation, you know, when we were looking at that nine and everything like that, that was certainly, you know, a harder time, especially when things like eggs and poultry, that went like... Insane for us. That went insane. Insane.

Man, it's easier to say, you know, if wage didn't keep up with them, you know, it's easier to say, okay, you know, times are hard. And for a lot of people, it really is. Yesterday, the median wage growth across the United States was announced today. Sorry, this morning that it went, it increased by almost 4% year over year where inflation is at 3% year over year and sometimes below. So right now,

median of course this doesn't apply to everyone it's this median is actually above so it's finally you know potentially not only that doing a keep up but maybe a bit of a recovery potentially right the labor statistics also came in 4.3 unemployment rate yeah higher than people thought so either way

Is that the reason why we're struggling? Because whenever I hear immediately people say inflation, the economy, I'm just like, okay, but what's actually going on if we look into your money? Because a lot of people will just use them as cop-outs. There are a lot of people that have actually gone through hard things because of the incredible inflation that took place a couple years ago. Absolutely. Absolutely. But when I hear someone mention it right now, today, I'm curious. Right.

And immediately want to investigate. I will say at least in Ellie's situation, she hasn't gotten a merit increase since 2020. You haven't? Nope. This is a battle she's fighting. That is because of the Department of Education. Okay. The Department of Education basically has a set amount that people can make legally without being compensated.

For enrolling students. So this might tell us, is this the best job? How long have you been in this job? Two years. How long have you guys been together? Four. Married? Married for five days? Six days? Oh, f***. This is new. Yes! Yes! Yeah, there's lore behind that for sure. Well, before I...

Like, destroy you guys or whatever. Yeah, seems reasonable. Congratulations. Thank you. Let's have happiness. Just a little bit. So is your honeymoon being on financial audit? Basically. Yeah, believe it or not. This is our honeymoon. Financial three-way. This is exciting. No. Menage a trois finances. What's going on, guys? What's going on here? So...

I think we probably would be less in this situation if a certain someone didn't have collections, we'll call them. So collections of maybe miniatures and collections of ink. No, no, no, no. Collections of like things. So she collects the art that you see on her body is very cool, but she collects it and it's very expensive. But...

How much have you spent on tattoos? I have spent probably roughly around eight grand. Over the course of how long? Years. I've spread it out over the course of years. I'd say ten. It's dependent.

And a lot of things, whether or not that's good or bad. I mean, you have it sounds like your wage isn't keeping up with what you need it to. So that would make it like, OK, maybe that's not the most responsible purchase. But you're specifically saying that your new wife's

of different things, including the art on her body is, as you said, is what got you into the situation. I don't even know what this situation is. Well, I went through your finances, so I technically do, but it's like, you know, it's a thick pile. It's a lot of debt. It's some of the highest credit card balances on single credit cards that I've seen in a while. And there's some really high interest, bad debt. There's some Sally May, that private student loans. Yeah.

And you're saying we're in this situation because your wife collects things? I mean, there are definitely... We took out Sally May Loan because your wife collects things? No, that was definitely due to me going to school for way longer than I anticipated. So why is this about your wife collecting things? Well, I mean, I definitely play a part. Sounds like you collected a high-interest Sally May Loan. Yeah.

Yeah, that's definitely true. That's definitely true. Toward the end of it where I was like half a semester, a semester away from graduating and I didn't have the money to finish and I couldn't start classes until I did that. I, you know, got desperate and was looking for any way to get a loan because I had already exacerbated. So what is this collecting thing, though? I mean, that you bring up. What is so I mean, she has a pretty just out of the gate, just like, hey,

Yeah. Well, it was more so when we first got together. She just had collections of things, whether it was small backpacks or I don't know if you've heard of Funko Pops. Yeah, now I know because we had someone else on the show. Well, this one has more Funko Pops than days in a year, so it's a fair amount of...

of things that she would just buy like little one-off things and they just show up in the mail where she'd buy them and be like, oh, I forgot about this. It comes six months later. - And we're in this situation because of that? - I mean, it's a contributing factor. I don't know. I doubt it's the main reason. - There are definitely credit card charges on my only credit card that may have been Funko related a little bit ago. - What's a little bit ago? - It's been about a year since I bought a Funko.

But I was really bad. So why are we talking about that? Well, what did you tell me just the other day? What was this, last weekend? Oh, my God. So a few days ago, I decided to work with a tattoo shop, and we're planning on doing a tattoo in a few years. In a few years? Yes. Yes.

- 'Cause I'm not trying to pay for it right now. So what we decided was I was gonna do a payment plan and then by the time I-- - Starting now? - For something that she's not gonna give for a couple years. - Well, that's stupid. Why don't you do a payment plan? - Why?

When you do a payment plan, you get the product and you pay for it over time. You don't pay for the product over time and then get the product. So this is going to be a compensation piece. When you finance a car, do you get the car after you're done paying it off for a few years? So this is like an art piece. So you always pay, well, in most cases, you pay before for the art piece so that way you can do it. How much is this art piece? That we haven't figured out yet. Should you be figuring it out if we have high credit cards? Unknown price.

You basically have Sallie Mae loans now.

- Basically. - Yes, co-signed on, 'cause this one has a cute face. - Oh wait, really? - Yeah, so the student loans are all my loans. - You co-signed? - I did. - Yeah. - You co-signed on to his private student loans? - Yes, I did. - When you guys were dating? - We were dating a few months. - No, not a few months. - Probably about a year. - We made a more irrespe-- - That's insane. - Co-signing a few months into our relationship. - Why would you do that? In what world does that make sense?

So for me at the time, I was doing a lot better financially. I was bringing in like four, five K a month. So doing something like that was. Why don't you do better financially now then?

Um, well, working from six in the morning to one o'clock in the morning is not an ideal way to continue your life. Sure. Probably not sustainable. Yeah. But if we continue to live off of like, we're still making that amount of money and then we get into a bad situation, then we can't get out of that situation. Maybe it's a thing we have to do temporarily to get out of that situation and then budget like we're no longer in that situation anymore. So I guess my issue is, is that because I basically learned

to spend the money that I did because I made so much. - Yeah, that's what I just said. - Now that I make so much less, I'm like, okay, can I buy this? And I'm like, no, I'll just buy it, it'll be fine. And then I'm like-- - That's what I just said. - Yeah, yeah. - Okay. - Making it make sense in my head. Sorry. - Oh, sure. - But yeah. - It's, well.

- How much do you guys know about each other's financial situations? - Now, everything. - Okay, and when did we figure this out? - Probably... - Whenever we did... - Two years into the relationship, we started looking into each other's finances, like, "Hey, this is what I'm struggling with, this is what I'm struggling with." - When we started paying off each other's debts. - So what are we struggling with now then? - We're not credit card people. - Yeah, trying to keep... - Being honest with ourselves about that probably.

Somebody needs to be honest about themselves. What does that mean?

that this one makes a lot of purchases that he shouldn't be. Okay. See, I'm confused. I'm confused because when I ask what's going on, you say you're into the situation because of her collections, and now we're saying, but we're in bad credit card debt because she's saying because you make a lot of purchases that you shouldn't be. So what the f*** is actually going on? What the f*** is actually going on here into this? Like, what is legitimately going on?

I mean, I definitely take risks when it comes to purchases like cars and motorcycles and attempt to fix them up and flip them. And the overall P&L across the board? Overall P&L is not great. I'm sitting on a lot of sunk cost right now. So maybe we don't do that while we have tens of thousands of dollars debt and we're taking out Sally Mae student loans and we're having a girlfriend over a couple years at that time co-sign on them. Yeah. And I think, I mean, I think I kind of echo...

sentiment on bleep the name oh uh ellie's sentiment on um definitely living outside of my means like

going to school for what i what i graduated with in december just software engineering yeah i kind of which i love it's a great degree right i kind of i didn't anticipate the job market that i'd be coming into it's a hard one for that right now right i mean i mean we've seen it be bad and we've seen it be great so i know that the work will still be there i just need to get myself into one of those roles and so i think the latter half of my schooling i i kind of

purchased with that kind of income in mind down the road so kind of so kicking that can down the road everything a little bit what did you preemptively purchase um well not necessarily income yet your individual purchases more so just the use of the credit cards like i wasn't a credit card person until you think you're a credit card person well

I think I know what the proper ways to use credit cards are. But you don't do them, so you're not a credit card person. In order to be a credit card person, you'd be using credit cards correctly. Right. Even if you know how to. Bad execution. If you know the law and you still break it, it doesn't mean it's okay because you knew what the law was. Valid. But, I mean, I understand, like, yeah, I guess I understand how to use credit cards, but in practice... Then why don't you?

yeah yeah it's the impulsivity well i think the i can convince myself that i can pay something off if i budget and then that's where i'm guys i'm just i'm just still confused i want to jump into the stack because it's a stack but i'm just legitimately it was so what's going on and then it's like so which what it's just like the other person's is that just what i'm hearing

I feel like we're the same kind of and that's why why are we deflecting oh yeah that's not that's not cool right I mean happy six days we got this we're on a roll doing great

You guys are doing great at being in debt together and not getting out of it. Okay, so I want to know self-assessment where we think our now household financial score is. Zero being the worst, 10 being the best. I'm going to go 3, 2, 1, and then on go, you guys are going to give me that score at the same time to see where you self-assess it. So overall household financial score. 3, 2, 1. 6. 0.5.

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Don't let bad credit hold you back. Take control and start building your future. Head to getkickoff.com slash Caleb and get started now. Thanks to Kickoff for sponsoring this video. Point five and six. Why do you think you're so good? I think that are you asking personally or for the both of us? You know why you guys think why you think your household financial score is a six out of 10 above a solid middle.

Because, one, we can still put food on the table. We can still manage to... So literally like a basic necessity. Okay. Yeah. So we can still pay our bills. We haven't gone defaulted or anything like that. So... The literal minimum makes you above like good job, solid, middle. I think it does. I think it shows that we at least can sit down and do...

the halfway point of what we need to do, which is maintain our bills, pay our credit cards, go through and make sure there's food on the table. And why is she wrong? 0.5. So if you just look at, I mean, you know, the debt that we have is so egregiously bad comparative to like any other debt you could carry. Um, that's why, I mean, it's just our, it's just our high interest debt that I'm just like, we're, we're literally kind of,

Yeah. I've never been in that much credit card debt, so that's why I'm just like... And I always know that my parents and the way I grew up, they were always really big into credit card debt, and that's why their finances were always fucked. So are you financially ready for the commitment you guys just took on for a lifetime? If you guys are so beyond disconnected on your assessment of where you guys are... I think it was a little ready-shoot aim of us, for sure. Yeah.

- I mean, I'm not backing out of anything, but-- - Oh, that's good, that's good. Good to know. Glad we were able to figure that out today. - Yeah, no, I mean, we've definitely got things that we need to work on and the way I'm able to process things, the way that he's able to process things is a little hard for us to sit down and be like, this is how we need to budget.

And okay, if you guys aren't ever gonna be able to agree on a budget, how the are we going to be able to get the agreed upon budget, we did have a small budget that we did do and what is going on? Because this is not what people with budgets have. Yes. So we had decided late to early this year, like,

late last year, early this year, that we were going to sell some of our bigger assets. - What did you guys have? - Well, so we sold, I had a car and I sold it, made 14K. He had gotten into a motorcycle accident, so we got paid out. - It's not really an asset. - No, it's not an asset. - Titanium asset, I suppose now.

But he got into a motorcycle accident. We got paid out for that. He had some bonuses that came through. And then we ended up pulling from his 401k as well. Decided that... No, but that doesn't...

I understand getting rid of a physical thing like a car, but a 401k, you're going to take an immediate 10% hit at a minimum for early withdrawal. Was it a 401k or was it the shares thing? Yeah, it was my 401k. So you lost 10% on it. So imagine that as a 10% interest debt, essentially. And then whatever gains were taxed at

capital gains and potentially short-term capital gains depending. Right. Probably, actually, because it did fairly well since I've been paying into it. Mathematically, yeah. Well, it gets worse because... It did. What? It did work. No, what got worse? No, I mean, it got worse in the sense that we used it to pay off a lot of debts and now we've ran them back up. It's because you guys didn't change your behavior. This is what happens when people shortcut to the debt. And I'm good with selling your...

your shit to get out of debt. I'm good with that. I'm good with consolidation to get out of debt. I'm good with transferring to 0% interest to get out of debt. I'm good with those tools. Those tools are good, but not before changing behavior. If we don't change our behavior, we get into it again and now you have nothing to sell for it, right? Yeah. Right, right. We've basically sold off every asset that we can and...

And that's where we are now. I wish you could sell back some tattoos. You know, if I could cut it off, I might. All right. If you want your Hammer Financial Score, it's free. Link in the description below. Also, if you have interesting finances, if you have anything you want to have challenged, and if you're an interesting person and you want to be on the show, go to calebhammer.com slash apply.

I always appreciate having people like you guys on. Thanks for being here, especially after just getting married. That's really cool. Of course. Thank you. I have a PayPal thing. A PayPal credit, perhaps? Yes. Yeah. That would be Joel. This is under Mr. Joel. Yep, yep. All right. PayPal Joel. This, we're sitting at $167.05. Now, that should easily be able to be paid off with your guys' income situation. Yeah. It was paid off.

Okay. Definitely was. And it's a $41 minimum that you pay, man.

But I mean, this should be able to be paid off every month from a self-confessed credit card person. But there's interest being charged at $4.27. Okay, so it's at $199. You put an $88 payment towards it, starting to make progress, but you didn't fully pay it off. But it doesn't even matter because you purchased $50.85 on it. Yeah. And it's accruing interest. It's already such a small balance that you should be able to pay off, especially from a credit card person. Why are you putting more money on it in that case? Do you even know who he is?

Yes, I do. And we're okay with this? Do we have conversations about this? We do have conversations. And how do those go?

Normally, what the heck are you buying and why are you still putting it on these credit cards that we sold things? Reasonable question. I would love the answer to it. It was a convenience thing with Best Buy being able to buy through PayPal and put it off either in the paying for. Do you care? Like sales, like if it's like, oh, you know, buy to get this plus. Also, incorrect. It was for Ubers.

Oh, sorry. I was thinking of my other PayPal thing. Oh, wonderful. To be fair, the Uber stuff was really odd because we... We took trips and for whatever reason...

like all the payments either didn't go through or were on the wrong card so all of a sudden I logged into my uber app and I had like all of those unpaid trips I have no idea why and so I thought I had my why is this your card though it was the card that was already attached to it and I just was like okay we need an uber right now it's lazy I mean you guys are newly married you're not even 30 yet that makes me feel great future wife

No, I'm kidding. I'm not that desperate. No, no. I mean, then you'll have to figure out this whole thing where we don't communicate or that be like right out of the gate. It's like, is that how first dates got to go? It's like finances on the table. Yeah. Is that what you would have suggested for us? I either put the finances on the table or her on the table. Maybe the latter. With those lines, I'm surprised he's not married.

Oh, okay. What are we doing? Okay. Great. All right. Well, that's... You know? I don't remember. I'll move on to the next card. Yeah. Yeah, that one's pretty silly for sure. Oh, just in general. You guys just got married. We're not in our 30s yet. We have a long time to go. Have you guys discussed where you want to be? Oh, absolutely. Where you want to get to? 100%.

Okay, and where is that goal and when and what? The goal ideally would be to live or own a home in Phoenix. So that's one. And then we have family in Montana and maybe Colorado here soon. So we'd like to own...

somewhere to go uh when it gets a little hot yeah yeah okay okay my parents have land up in montana so i i'd be able to build something on their land sort of thing so it'd be i don't know it gets a little come on asset ownership gets a little weird there

Yeah. And I would rather you at least own the land that you built. Definitely. That would be the end goal for sure, but it's helpful to like... Or get you on the deed. Yeah, have something on there. And I have siblings too, so honestly, I don't even know how that's going to work. Ooh, if that starts getting complicated, I wouldn't do that. Either way, that's long-term picture...

Is that it? Yeah, we really... Houses? Well, no, we really want to... That's like the lifestyle we want is being able to... They call it snowboarding in Phoenix. And we want to have remote jobs so that we can...

live in both those places and potentially are we ever going to get a down payment on a home if we're not uh sacrificing it anyway whatsoever to get out of debt if we're not really that might be if we're blaming each other for why we're in the debt if we're still spending on cards that we can't fully pay off that is already at a small bounce that you should have been able to pay off anyway what are we doing yeah being irresponsible and yeah no no but

Your goal must not matter that much then. It's the short-term gratification must matter more. Well, I mean, no, we definitely care about our goals. Not enough to put effort into it. I mean, we work toward them. We definitely make plans. Minimum payments. Yeah. Minimum payments. Okay, cool. So you'll get a home when you're 95? Yeah.

Yeah. I mean, you already told us not to blame the market, so that excuse is out. Well, home's hard. I mean, okay, well, a part of the thing that we can blame when it comes to the market is right now, I wouldn't say that anyone and everyone should get a home because maybe renting makes more sense right now. We're not talking about you guys getting a home right now anyway, but renting mathematically makes more sense for a lot of places at this exact moment. If rates go down to...

a point where it makes sense with a home value plus the interest rate on the home, the payment makes sense at that point where it's more affordable to buy a home, then yes, let's do that. But because of course, home rates tend to only go up and property taxes tend to only go up. You're right. It becomes harder and harder to afford a home and it takes longer and longer to afford a home. I can sit down with you guys in your income situation and be able to get you guys in a home within, you know, a certain time horizon for sure. I could really,

Well, yeah. I mean, time being the factor we don't know, right? No, I'm just saying that where it's like there are certain things in the market that make it harder, but you guys have the ability to do it. We're making it hard on ourselves. It's not making it hard. You're making it impossible for yourself. Right. Minimum monthly payments across all these debts are... I need to go into these debts more so the people out there know what we're talking about. So let's talk about this Desert Financial Credit Union. This one's a lower interest rate debt, but what...

What even is it? What did we take out? Why is it $19,335? What's this even for? It's our Jeep. This is our car. We have a car. We have a... One of the car loans, because I saw another one, didn't I? Yeah. That one's for a motorcycle. Oh, great. Necessary. Okay, so the Jeep. I'll be getting a job here soon that requires me to ride motorcycles, so...

Okay, we'll talk about that when we get to that. $19,335 is owed on this. It's only a 5.4% interest rate. Usually for cars, for the minimum repayment until it's paid off, I usually like to be at 3.5 or less. Oh, wow. I thought that was good. No, and honestly, for cars, especially compared to a lot of people on Shown where rates are, it's not bad. It doesn't mean that I just want to let it sit there, though, is what I'm saying. Oh, I see. Now, in the debt payoff strategy, it'll probably be last.

But also just the $20,000. You couldn't even pay off your PayPal card at $167 and we have a $20,000 card debt. Like, does that one make sense? Yeah. And plus, what do you think it's worth? That one was another one of my... What do you think it's worth? I'd say 12. She wins this one. It's worth 10. It's worth half of the balance you owe on it.

Ask us how much you spent on it. How much did you spend on it? 30 grand. So when? When we bought it. When? Back during COVID time. So 2021. Yeah, it was like 2021. It was a weird time for cars. It was a weird time. And I was trying to finesse like having a vehicle with like the certain...

that was going to hold value, but I didn't take into account the mileage. Yeah, how'd that go? The mileage got to it and now it's tanked. Not just the mileage, but you bought when the car market was at a peaky peak. Yeah. The used car market especially. Yeah, definitely. And you're competing against that.

I mean, we haven't gone back to pre-COVID levels and we're probably not going to, but either way, like you got it when like it was pretty clear that there was a lot of supply chain issues. Yeah. Like I think anyone with a brain would have known that a used car would have gone down in value at some point from there because the world would pretty much, the entire world economy would pretty much be over if the supply chains never caught up. So there'd be no point at that point anyway. And we already had two cars. Yeah.

So we're sitting here with a $20,000 loan that we didn't even need. So this was just a bet on it maintaining value. Why do we even want the... So we didn't

Why did we get this car in general? We wanted a vehicle that could go up camping and could go do a lot of the things that we like to do. We rent one for a weekend. Let's take a second to talk about something super important. Did you know that almost half of Americans wouldn't be able to cover a $1,000 emergency expense? That's why I'm excited to announce the Caleb

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I better see you there. So check out the link in the description and join for free today. We go up more weekends than that. Okay, maybe you can't because guess what? There's a pile of debt here. So you want to buy a house. So maybe you like we sacrifice things for our wants, sacrifice things for our needs. If you want to get a house, we might not be able to have a $20,000 loan in order to get to camping. But you got to be able to, you know,

enjoy your life. I agree. I agree. And if that's what you want to do and this is what you value more, go for it. If this is what you value more, go for it. If you want to be in debt for the rest of your life because the lifestyle that it is bringing you,

is more enjoyable than ever being able to form a home, ever being able to retire, ever being able to sleep without the knowledge of the dead over our head. If that is the life you actually enjoy, go for it. I'm not against anyone living the life they enjoy. It's not the life I enjoy, so it's not what I preach. But if that is the life you enjoy, do it. I think it will cause more stress and pain in the future.

just based on the overall American economic system and how retirement works. And I don't think we can rely on social security necessarily. I think it would be a mistake. Yeah. But if you want to, you can. Yeah. I mean, I guess we just, that's like one of our really big bonding things is being able to go outdoors and like commune with nature and hang out with each other. Commune with each other instead. Yeah. Okay. I don't know. If you want to walk in a path,

Does outside exist in Phoenix? Well, when it's 115. It's not as bad as here. Honestly, your weather sucks. Yeah, it's humid. It's really bad. It's really bad. And pick spray balls. Yeah. Okay? I mean, so we like to go up north. And I like you to choose sometimes. And I'm not saying don't ever, but maybe not as frequently. Choose what's more important. Getting out of debt? House? Going up north? Yeah. Yeah.

So you're saying don't go trade in the Jeep for a new Tacoma. Is that an actual consideration? That was an actual consideration. When? Well, why? So the Jeep ended up not being able to drive it. First of all, we had to go to one car, the Jeep, because my other projects aren't working right now. Because apparently you have no idea what you're doing, so maybe quit this side hustle. Yeah.

It's definitely more of a passion than it is. I'm not efficient enough to make money at it. Loving cars. I can fix them, but it just takes too long. We don't get to do hobbies right now. Yeah, that's fair. But anyway, I was down. No, we can. It's just hobbies that literally prevent us from like...

staying alive. Yeah. So we were down to one car and the Jeep ended up being down for two months. And that's with me getting professional help with diagnostics, everything, trying to get it back on the road as soon as possible. And when we finally got it back on the road, I was able to start going back to work. And I was like, we need something more reliable. And so Ellie's mother's worked at dealerships and Toyota dealerships in the past. And she's like, they're super reliable. They have great warranty. Like, let's

Let's go in there. But you'll be happy to know that when I saw the interest rate, I said no. Because it was insane. So it's not a consideration? Not anymore.

I mean, so the Jeep is... Well, we are wanting to sell the Jeep so that way we can get out of it and at least into something that's reliable. It's back in the garage and not running right now. And I need a vehicle to get to work. Because sometimes like the method to get out of a debt like this is to borrow the difference and then get a $10,000 car. But if you borrow the difference and get a $10,000 car, you have a $20,000 loan again. Yeah, I'm already seven under. Mathematically...

No, you're 10. Mathematically, it's just like... Well, Toyota's willing to give us 12 is the reason I got 7, but... As of when? As of... Well, before it was not working right now, but... Huh? Was this last month we went? Last month. Yesterday, she decided to tell us she had issues. This is her mom pulling in some favors and things like that. And now she can't.

Presumably, because they don't know that it's not working right now. Yeah, probably not. Worthless. Our Jeep is worthless at the moment because she's having misfiring problems. No. Yeah. So the thing we're already $10,000 under on is like... That's what I was in the garage working on all night last night. Oh my... So it's not reliable. The f***ing scraps.

yeah i mean it's it's probably just a fueling issue to be honest then fix it you're the car guy i'm the car guy i am i am i ruled out spark and air so it's got to be fuel yeah only only three things that it needs to run so and you were leaning on your mom working at this just to get us a good deal wait who's mom uh ellie's mom yeah my mom you guys lean on her for anything else

Um, so we lean on my mom for not much, um, because I tend to be more on the creative side. I get leaned on when it comes to her business. So she, I'm explain, I'm explain. You're explain. So I wanted to get into my own business by doing something creative. Started off with doing resin, um,

And then the stuff you pour into molds and make stuff out of epoxy. So, yeah, did that for a while, then wanted to branch off to doing strictly products for different dispensaries. Definitely not oversaturated.

Yeah. Right. So realizing that I'm like, you know, I'm not new into this. So now I want to make my own clothing. So because my mom is a travel agent, she has her own little giveaways that she does. So she invested in the Cricut machines. So that way I can make her T-shirts for people that she needs to give and stuff like that. Like final cutters and presses and stuff. Yeah. So I do her advertising stuff.

So she provided all the stuff that I need to do that.

And then I do it for her. What are you making from this? Nothing from your mom. Yeah, nothing. My mom bought everything, so that's the deal that we have. So you're doing it for free. Yes. Mainly the reason why. So what the f*** is this point? Because I want to start my own clothing line that focuses mainly on mental health.

That's what I want. And as someone who's a very big mental health proponent, I'll ask what the f... So, mainly... What? What is that brand? So, I mean, you go around, you see everybody's shirts and stuff. Here, you have an extra chromosome. Here's a shirt. I'm like...

Like, what is the brand? To put out messages that can reach not only you, but also reach other people. Do you have examples of this? I do. So I don't have physical examples. Do you have it on your phone? Everything's written down. It's all outlined on my iPad. So what would you put on this dirty money? I'm an assets man shirt. So for that, I might put something that says you are enough. And then right here on the sleeve, it says I am enough.

So that way when you look down, you can always remember that I am enough. But for you sitting across from me, I can remember that I am enough kind of thing. So I have messages on the back for when you're walking down the street, people can read them, feel better about their day kind of thing. I like that.

They end up looking really cool, like really dope when she does them. And it's like they're like done in that, you know, designs like Supreme and like these other brands that are just a logo. What work of research have you done on this in terms of potential consumer interest and competitors to this kind of space? If there is demand for this, and this isn't always the case, but if there's demand of this, there is likely something. Yeah.

I mean, when we go to the markets like in Arizona, like the open air markets, the car shows and other events like that, people who are selling those types of clothes, we knew some folks that were doing that. And, well, they had to close up shop, you know.

I feel like they were fairly mismanaged. A lot of people were putting themselves a little too thin and deciding, hey, let's sell clothes. Well, now let's also do candy and let's also do this. You guys have over 100,000 hours of bad debt. Yeah. So what the f*** are you talking about? They're running thin.

Oh, I meant like the other companies deciding to add on too much to the plate. Yeah, but you guys already have such a hanging, steaming pile of risk over your head. Right. And this also, this sounds more like a farmer's market pop-up, not a business. I mean, ideally with the online stuff, right? Yeah. I have to start off in the pop-up area. I'm only going with my gut. I can't tell if, I can't say if it would be successful or not.

It sounds like it's, I just, it's hard. Good luck. The thing is with the pop-up shops during the summertime for Arizona is not big. It's too hot outside. So majority of the market is going to be in the fall, spring and winter. I love a six month window for all of our products to be sold. Yeah. That's where the online presence would hopefully kind of carry you through a little bit of that.

A lot of it is so far. No, I got it. I got it. And your mom invested in this essentially so you could make her clothing for her stuff? Yes. So that way she didn't have to- Because she was already paying the Vistaprints, the other people to print stuff onto t-shirts and mugs and things like that. So she got her the supplies to be able to do it. What was your degree? Graphic design. Okay.

I mean, good luck. I got my degree from a school that closed down for fraud. Did you get your student loans forgiven? I did.

She did. Like last month. So I ain't got no student loans. That's good. Was that in the pile? It should show that there's student loans, but they're all paid off right now. Did you tell our producer? I think I mentioned it that these are a thing, but they should be gone soon. So I imagined it was disregarded maybe. You did not tell us that. So that is not on our financial plan.

Just kidding. It was like 17. And they asked you an hour ago. Okay. That's true. Which is okay. I mean, I'm glad it happened to you guys. It's hard for us to have a full concrete picture of a situation if people do not tell us the truth. Oh. I thought I put a note next to there. My bad. So we have this...

Southwest card. Yep. That shirt business. This is my dragon. My beast. And you're focusing on mental health too. So it's more positive affirmation. Right. Mainly. Okay. It's not like. I mainly had this idea. It's like, yeah, you'd be a little happier type mental health. Not like mental health disorders. Okay. Well, and the like letting everyone, you know, you had the one that talked about the hotline to call. Yeah. It has a hotline on it. If anybody ever needs it, you know, you can.

Is that what you want to wear? Well, it has it like on the back. Like on the back, it has that the 988 number. And just so that way people are aware that they have somebody that they can call. I think she finds it empowering. And I think that's wonderful. I get definitely other people that feel that way. Well, that's wonderful. I love that you feel good about it. And I like that. It actually could be cool. I actually like the heart behind it. Right. I like that.

I'm literally thinking about it from a business economics perspective. Right. I mean, I have had sales for sure. I have had people come through and buy my hoodies and stuff like that. But for me, with all my financial debt and everything like that, it does kind of put a damper on it because it's like, well, I can go ahead and start making money in this, but I don't have money to sink into this to make it an actual profitable business. Well, not to tangent too much off on that subject, but like...

she's she's like her best when she is working creatively and that's the tough part about her current job is there is no oh no that's great and i love that for you again i'm not against this as a concept in general i'm literally strictly thinking flat down no emotions involved business right and that's where i struggle with this as a concept yeah but that's fair i would love to be proved wrong

Maybe. Because that would mean you're successful, and I would love you to be successful. So I'm okay with being proved wrong. But you're also considering doing that at the same time of having the Southwest Rapid Rewards card. This is your card. This is my card. Yeah, it's your card, and you literally owe $14,491 on it, which is absolutely...

Insane. Absolutely. That's crazy. With $315 of interest accruing on a monthly basis in 33 cents and a $460 minimum monthly payment. Now we're at a $41 minimum monthly payment, $589 minimum monthly payment, and $460 minimum monthly payment. They are stacking. They are stacking. They are stacking. How do you have this? And why is it basically at its max? So...

Especially if we've been on the same page and we really want to get out of debt because we really want a home because we really want to start a business. Yeah, it's only a couple hundred dollars from the max. Yeah, so...

With this card originally got it because I was going on vacation out of the country Needed something to protect my debit card. So we got the credit card. Okay, I hated the logic didn't want it but got it Anyway, I was advised I needed it. So push into a corner kind of thing after that it was only spending it on gas only doing it this and then

Things started coming through where it was like, you know, I can just wait till I get paid. And then you start trusting yourself a little too far. And then you end up with that number when you realize that you can't control it because you aren't doing, you're not putting the things on there that are supposed to be there to help build that. Over the course of how many years?

- Well, that's also the card that we did the balance transfer. - Why is it at the max? Why is it at the max right now though? - Because we did a balance transfer to-- - On to here? - No, away from it. - No, off of there, onto a Discover card. - We did a balance transfer. - I'm confused, is this at the balance? - Oh, sorry, it was a higher balance. Or sorry, you had a higher limit. You had a higher limit when we did the balance transfer. - That's what I'm trying to get to, yes. - We had a higher limit on the balance and then we did the balance transfer. - We did a balance transfer, split the 14 down the middle, seven and seven was on the cards.

No, because it was higher. It was like 20-something at the time. Listen, you're not a credit card person. I don't use a charge card like the Fizz card. You guys can't use any other cards. You don't know how to. You really don't. If this $14,491 right there, if I open my MooMoo app, my brokerage, and I bought S&P 500, just got like the SPYs in that $14,000 that is sitting there at 30% interest, if it instead followed over the next 31 years until you could pull out penalty-free...

of a retirement account at 59 and a half, it'd be sitting at about $317,000. $317,000. But again, instead, it's just sitting there. It's just sitting there. And we're talking about taking time away from where we could be earning real income and investing in a business that might not make money. And we're talking about getting a special vehicle so we could go up north. We're talking about potentially getting a second home. All these different things. All these...

Choices. Well, we're just putting the minimum monthly payment towards this. A card that is sitting towards its max at 30% interest. Well, we drain a 401k. Yeah. Our choices are out of control. Again, if that is the life you want to live, live it. No, definitely not. Live it. Definitely not. I'll silently judge, but live it. Okay?

We could be adults. Financially speaking, life speaking, partnership speaking, we could actually sit down and start working towards this instead of going up north every three seconds of our life to connect with trees. I feel like we're really downplaying how nice it is to get out of the city and get away from people. Downplaying? I'm sure it's great. Choose! Getting over balance! Which one?

Which one? Choose! I mean, the balance. I want to get rid of this balance. Cool! Let's not bring up Dice It Is! I don't give a sh-

I know how nice it is to pay off debt. I did it. It's great. And guess what? Now I can afford to go hug a tree whenever I want to. And you do? You commune with nature often? Does it feel nice? I like going on nature trails. Nature trails. I mean, that's cool. Taking my dogs and letting them go for swims. Sure. Isn't that awesome though? Yes. Yeah. I wouldn't be going getting a $30,000 car that went to the value of $10,000 to do it like a dumbass. That's fair.

Apple card. Who's apple card? This is your apple card. That's my apple card. That would be Joel. What did you do here, buds? How many trees did this cost? The apple card, that was one that we paid off when we did a lot of debt consolidation and things like that. And it got brought back up because I committed to a trip to Thailand. We committed to a trip to Thailand a year out. And it was this last March. Yeah. And so I put the flights on that.

And put the flights on that. Why are we going on trips, guys? I want you guys to go on so many trips you have no idea. It just makes no sense now. Why? Why is Thailand more important? I don't understand. I think we... It was an opportunity. Opportunity to rack the cart all the way back up. Yeah. I mean, we kind of looked at it as we could do this as our honeymoon and...

After our actual wedding, we could do something like meet with Caleb Hammer instead of going on a trip like most people do. So you'd want to get yourself financially first? Well, I didn't think of it like that. At the time, I thought, you know, we'd have quite a few months to pay it off. And how's that going? Not very well. It's that minimum monthly payment is pretty much all. Yes, we're stacking it with another $291 minimum monthly payment with a balance of $4,792.30. Yeah. Yeah.

Yeah, that one definitely not proud of because we, again, had it paid off at the end of last year. We had paid off a lot of cards that we had agreed not to use. And at some point, some of them started to get used. That one, yeah, I was a little guilty about canceling on my friend too for the trip because other friends had already canceled and I was... Then he's used to it.

Ouch, that's tough. I mean, I don't want my friends to feel like I'm a... No, I wouldn't want to either. Do you understand just the impact this is having on your lives, guys? Yeah. Plus, we're still spending on it. Friendships are important. What is this? What is $685 a hertz? Oh, that was when the Jeep was giving me trouble. I ended up going through Uber's rental program. He was doing Uber for a while. Google Domains? Yeah.

Yeah, that's my domain. I was doing... You have a domain. I do. I was doing IT consulting for like three years before this. And I stopped just because I went down to one client and then that client... Do we need to still be paying for this? Probably not. Probably not. I run a couple of... I host a couple of projects off of it too, but... What's Evego Services?

That's charging. I was renting EVs. I was testing the viability of EVs over gas cars. I found out the infrastructure is really not that great right now unless you're charging really fast at your house with solar panels. That's where the savings can come in. It works really well if you use it as a daily commuter.

Yeah, I mean, I was doing that and Ubering with it. Yeah. I don't know about the Ubering. Yeah, that was probably too much. As a daily commuter, it saved me money, but... But not when you have to charge all the time because you're running out of battery midway through the day. Yeah. That was an attempt at like a second... Who has the freedom card? The freedom to get... I think we both have one. Nope. No? That would be just you. That's just me.

What'd you do? Because we're at $3,841.23. So you're done f***ing around with EVs? Yeah, no, no. Thank you. I ran the numbers and it was not great. Did it help? I was losing money. He had the Excel spreadsheet to make sure that the numbers and the numbers. All right, what's going on? So this one, I think I've just had a balance on it for a long time and we started to pay. Oh great, so why pay it off?

We started to pay it off when we consolidated all the other debts, and that was like the next card to get taken care of in our snowball. But then we started to add more balances to the other cards, so it kind of negated that almost entirely. We also spent eight grand on a vehicle that we haven't seen in months. Most of these cards I haven't purchased on in a while. Makes me a little nervous that you guys still have access to them, though, because, again, last time you paid them off, they just went right back up.

Yeah. Yeah. Yeah. I mean, it just ends up being something that we either need to pay for, or I mean, obviously the Thailand trip we didn't need to pay for, but... And when we don't have cash, it seems like the only other option. And then the thought is that we'd pay it back off. When we get paid. When we get paid. Or not when we get paid, but like overtime after we've... And...

And it's not... All these plans. You guys have all these plans. We're good planners. We're really good planners. Yeah. Oh, yeah. You're great at making a plan and you're absolute dog sh** at executing them. So maybe f***ing take a realistic plan this time. Go through the budgeting program. You guys get it because you're guests on here. Go through the budgeting program, the investing program. Go through them. We put so much time and education and resources into them. Take them together. Take the quizzes. Learn how to do it.

actually stick to a real life proven plan and be disciplined on it because i think you guys are also just not disciplined yeah i don't think you guys know how to stick to anything you probably started for a day no no no we we had we had a good thing going right we did we did we when we consolidated debt we had a really good thing going wonderful that matters until when we're looking at somebody needed to buy

to buy a car that was 30 years old and spent eight grand on it, drove it back, and it has been in a shop. We haven't seen that car since we bought it. Can you get rid of it? Can you sell it? If you sold all your bulls**t little projects today, what could you get? Conservatively. Conservatively. So I'm just gonna say, because I've put money into the car. Yeah, I don't give a s**t. What could you get right now? For that one, at least... No, all your projects right now. Oh, all the projects. Uh...

15. Conservatives. Do it. I heard you guys wanted to get dirty again. Dirty money is back. And this time you're going to be a lady in the streets and a freak in the sheets. And you know who you usually meet in those sheets? I'm personally into BBWs. Budgeting. Bonds. Wealth.

And this sexy merch is only available through the end of this month and then it's going away. So to give you a little extra sweet treat, we're bringing back the classic dirty money as well. BDSM. Sluts for index funds. Finance daddy. If this isn't for you, you can eat my assets because I am myself an assets man.

Go to calebhammer.com slash dirty to check it out before these designs go away at the end of this month. And as an extra special sweet treat, every order over $100 gets your favorite asset signed and framed. The Hammer Dump Truck. For sakes, please do it. I don't give a shit if it's a net loss in the end. Play around with money when you have some. You don't! Take it! Pay off this card! Pay off another card!

This is dumb. $35 in interest, another $157.57 minimum monthly payment, then a balance of $3,841.23. It just continues. What is this?

Oh, is this like financed over time? Yeah, so that was repairs for the car that we were just talking about. Oh, what is it? 22% interest here? What is this? Finance charge for total payments? What is this? What are we getting? Approval for what? Amount of finance? $7,390 for what? What'd you get? What happened here? That one? Prepaid finance charge? What is this? Cross River Bank. What's this for?

Cross River Bank. Cause you don't even know what your own debt's for. We have so much debt. We don't even know what it's for or who it is. Look at this and tell me what it is. Oh,

Is that what? Oh, that does sound right. That does sound right. We don't even know. Yeah, that's... We're so disorganized. I thought it was a different loan. We're so not knowing what our financial picture is, 0.5 or 6. We are so uneducated about our own situation because we're literally just putting our heads in the sand and just going forward and trying to survive. And we're proud that we're making the minimum monthly payments. And that's all we're doing instead of making any extra progress that we don't even know what a debt is. Oh, that's 22%. Oh, my...

You didn't even know. I didn't know that. I didn't know that one. And why do you need a motorcycle? Because you're going to have a job that requires you to have a motorcycle, huh? Yeah. What's happening? I'm going to be an MSF course instructor or motorcycle safety course instructor. And you need your own bike for this? Yeah, they require that you ride relatively, I think, at least once a week. And then they want you to teach once a month.

So they just want to make sure that they're... And what are you going to make from this? Once I'm fully trained up... Which is how long? Which is three weeks after... Three weeks from now. I'll be trained up. I will have taken... I will have essentially watched other coaches coach for a week and... And then how much will you make? $538 per weekend. So two days.

So it's just a weekend gig. How many weekends? You can work. I mean, people have done six weekends in a month, but they suggest you don't do more than four. Weekends? No, like you can work during the weekday too. You can do classes on Thursday nights. How much are you going to be earning on a monthly basis from this?

close to like $537. Like just, just what's, if he does it every two grand, two grand, if you did it every weekend and that's worth having, or sorry, if I did it every weekend, uh, it would be closer to two grand. Yeah. I might force you to, because you're at 22.92% interest rate. If this is your justification for having the motorcycle, then you're going to need to put your work into it, buddy. That's fair. Big guy. Yeah. No more weekend trips up to the tree land. Well,

Well, originally... 22.92% interest rate of death. Well, I forgot. I got to put some context to that because when I got into motorcycling, I was never planning on purchasing a new motorcycle. I've only purchased old motorcycles for sub $4,000. Um...

this was actually when ellie wanted to get into motorcycling we went and i got her a motorcycle for three grand it was awesome great bike she dropped it immediately hurt herself and i just felt really bad at that point and when i asked her i was hoping you know in the back of my mind i was like maybe it's not for her but when i asked her she's like i really want to get back on the bike so i felt really bad and i was like okay let's go get you a new safe bike gives

Gives you the best chance of staying safe on the road. Your ease of going into debt is ridiculous. Yeah, I was blinded and a little scared because I was like, if she's going to keep riding. Then she dropped it again. You were in love. Yeah, then I dropped it again. Then she dropped it again. So now we're taking a break from motorcycling. Now I'm not allowed anymore. Pretty much. How is this bike? Fine. It's fine. Oh, but you need it.

Now I would use it. What's the minimum monthly payment on this? It's not on here. $192. The dyslexia got me. I know, you got me too with it. You can have a sweatshirt for dyslexia? Just have random numbers. It's going to say Lysdexia on it. But like really important letters. I forget what words you can mix around that, you know, like truck that make a bad word. You can do it like that. See, that's funny. You would wear that shirt.

we're doing market research you would wear that shirt right what if it was like a dyslexia shirt that accidentally said you know oh okay yeah i think that'd be kind of funny it's like oh sorry i'm dyslexic maybe you're looking through some like glasses or something yeah see brainstorming we make these businesses happen your brain's dying that's that makes sense uh what's how much is left

on this because it doesn't say this is like your original financing approval oh really i don't know the uh we're down to well that's kind of interesting because i thought it was higher i think we're down to seven we're down to seven i think that's a recent copy because the original finance was finance was seven thousand three hundred ninety yes your finance charge over the course of the payment periods because of the 22.92 interest would be an additional five thousand

Oh, I thought I could have sworn the finance cost was 10. I thought it was 10. I thought it started at 10. We're down to seven. We've owned. We've had that. No, they're dead in here. Well, yeah. I mean, no, no, no. I'm sure that some of the. OK, yeah. Because principal went to eight. It's because you had an origination fee. It started at eight. Maybe it went up after that because it started at eight. Yeah. OK, so it's a seven thousand. OK, wait. This is your where it's mostly you.

And you tried to blame her out of the gate, so... Yeah, that's fair. Looking at the numbers. I mean, yeah. Slate card. Haven't had that on the show, I think.

That was, I think, my second credit card ever. $5,647.99 with another $194 minimum payment. These are stacking. These are crazy. This is ridiculous. No purchases, but $137 of interest. Yeah. Again, it's close to the max, of course, because all your cards that you conveniently don't use are all basically at their max. Yeah. Yeah.

But I don't give myself access to them anymore. I wouldn't. Part of me wants you guys to close them or something. I just don't know. That affects your credit, doesn't it? It does, but guys, what happened last time? You paid off all your debt. You built it all back. Are we just going to be doing the endless cycle until we're dead? I don't know. I'm scared. I'm scared just based on your actions and lack of discipline and your ability to manage finances in any way whatsoever.

Okay. We're getting better. Sorry that my voice is harsh, by the way. We're getting better. I was sick at the beginning of this week. I am not. I'm not sick. Okay, cool. I was like, wait a second. No. I was vomiting out of both holes. Oh. Oh, no. Did you eat some deli meat? There's apparently something going around. Boar's head. I did not. Don't eat boar's head deli meat.

Nope. Watched Deadpool. Went home. Died. But I feel good now. This is my voice. Did you see the new one? Probably because of the movie. The movie was amazing. No, we went and saw the first Deadpool in the movie. Hey, there probably was some triple feature somewhere. Right. Some people spent the entire day at the theater. We did get to see the new one on our wedding day. So that was fun. That was cool. Oh, that's cool. Went in our wedding dress and suit. Yeah. Another PayPal credit. And it's yours again. Yeah. Yeah.

Yeah, so you have two my gosh I think one's a card and one's like they're there credit thing where you can put it on and pay overtime kind of thing It's crazy because every time we record a post show for these it's an extra 20 minute conversation And attached to this usually driving into some more the drama where this is more finances. That's more drama But this is already such a long episode and then we're gonna have an extra 20 minutes talking today Yeah, I have a lot of little cards

Not little. Buddy, we've only been over two that are little. And the fact that you haven't paid them off is a joke, honestly. Like, I'd be embarrassed. $226.24 with a $30 minimum payment. No new charges. Good, good, good, good, good, good, good. 29% interest rate. Nothing good interest rate in here. No. Well, no, the first car. The car is all right. I don't know if it's good, but it's not a bad interest rate. Upstart. So what are we doing here? That's right.

That one is kind of what got me started on the buying used cars and trying to sell them. That was like my initial purchase of a car, and then I've just been flipping them and getting the next one, but not paying off the initial startup cost, I suppose. So I've just been paying minimums on that since. What's the interest or fees baked in?

I know there was an origination fee when I initially took it out. Oh, it's at 20%. It's not good. It's not good. Guys, are you capable of taking out just like loans that are not 20% besides that one car? This is insane. 20% or higher. You're addicted to it. You're addicted to it. Ejecting 20% into your veins.

I feel like I've... Those... I don't remember exactly when that one was. That must have been... Long time ago. You owe $4,264 and it's a $207 minimum with your payment. Yeah, it was originally eight, I imagine. So I've gotten good about not opening the new credit, but now I just need to... I don't think that's...

I mean, that's a step. Again, the things that you guys are proud about are literally the basic minimums. Yeah. Which, I mean, yes, woo, congratulations, but... Surviving. Every time you pay off debt, you build it back up and you are not sacrificing to get out of debt in any way. You're choosing these vacations and bulls**t. We haven't even gotten into your spending yet. Oh, dear. Yeah. I mean...

Oh, there's that Sally Mae. Yeah, she's nasty. It ranges from 14% to 17.5%. This is real, really bad student loans. Honestly, I didn't even realize that they were variable like that. I thought it was the rate that they showed me at the beginning. $38,019.46.

Yeah. Minimum monthly payment. Oh my gosh, these stacks so much. This is going to be the same part of your budget. $579.28. Those, I called them and I had to get back to them because I didn't have all the information, but I'm supposed to be able to get on like a graduated plan or something like that where it's...

smaller payments up front and then they ramp up toward the end, which I know is a horrible idea. That's a horrible idea. I mean, you're like, you're almost ballooning it in a way. Yeah. I mean, you're just putting, you know, you're like, if you don't fix your situation by then you're so right. Right. There's so much risk involved in that. It can help you right now, but it could be. Yeah. Just in the time that it takes me to get like, hopefully a software engineering position, which is going to somewhere come close to like 40, like 40% or up or higher my income.

Yeah, and I'm rooting for it, man. I hope that job market starts recovering a little bit more. Yeah. It's only the data we got in the job market today. They just want a lot of experience right now is the problem, and there's a lot of really good engineers looking for jobs. You're going to have to go out there and you're going to have to buy the call that you do. I'm blanking on the word. Oh, never mind. But, yeah, I mean, I've worked with a couple of, like,

or talk to a couple of friends that are running cohorts out in New York and San Diego that can help me essentially work for free, but get my names on some of these projects and some things that'll make me stand out against a really tough market. Because everyone with entry-level projects doesn't look really good against everyone else with real-world experience. And I'm always happy to also...

it's not in software engineering but i'm if there's ever a desire from any of you or someone you guys know i'm able to get the one uh course career certification which are always good and they're even coming out with sums for the trades for like plumbing and stuff like that oh wow which is really cool so i'm always throwing that available want to give you every resource possible we appreciate it now this oh i always struggle to say no those are the student loans that our gracious leader

So I don't owe those. - You sure? - Are they? What's the balance? - 'Cause I think they're yours. - Yeah, what's the balance? I think they're mine. - $60,000. - Yeah, no, those are mine. - No, just kidding. - Those are mine. - So we actually don't have yours. So what confused me at the beginning is I thought maybe these were yours and we wouldn't have to look at them anymore. But you have an additional $60,000 in student loan debt. How many years were you in school?

I switched majors twice and I was, yeah, I was, I was going to school from, yeah, I did it. So did I. Probably the worst. I, I might've talked to you. I think I did it the worst way that you possibly could have done. Um, I went to a private school to be a teacher, which is a vocation that, well, it's cool that people do it. It doesn't pay very well. Um, yeah, for the private school tuition. Yeah. So that was, then I did two semesters of that or no three semesters of that. And it was like 40 grand, uh,

just for those three semesters. And then went back to ASU for business, dropped out 'cause I hated business.

Started working at the Apple store, the Apple retail store actually, and found my love for like technology and coding. And that's why I went back to school for, but I was starting at zero basically after having accrued all that debt. Okey dokes. Yeah. Well, $60,000, 30, $60,032, 28 cents, $92, 15 cent minimum monthly payment. Are you on like an income based thing? Yeah. With that one, I'm on a jointly file. I'm serious. I'm curious to see how they reassess.

All these are basically 5% or less. I would minimum the payment until these are paid off. The Nelnet ones? Yeah. Okay. But not Sally. Well, I might get on a traditional payment method because you're not going into public service or anything. No. In the income base, essentially what you're just going to be doing there, though there would be a chance of forgiveness in the future necessarily. A lot of that's going to depend on administration, administration, courts, things like that. Right. Everything student loans are so in flux that you...

lowering your minimum monthly payment, which now, okay, it might make sense because your other ones are absolutely insane. What you're doing is allowing that interest to accrue even more and more and more and more. I want you to be on a 10-year... Once it makes sense, once we're out of the other debt, a 10-year payment plan, the traditional payment plan, so you can just get out of it, but not in like a too fast way, but not in a too slow way either. Gotcha. Why would you not want to go as fast? Because...

You guys, taking out of your 401k, this is a 5%, S&P 500 average 8%, United States stock market 8%, S&P 10%. I want to start catching up on our investing. And this would take 10 years to pay off and it would be done. It's not dramatically hurting you at that point. $60,000 is a lot for your income situation. Now, hopefully, if we can land you six figures in the future, I think you can work up to that. You might have to...

take a lower level position than you'd want, a lower level just to start gaining some resume experience. Yeah, and I'm looking at that with my current company because I'm trying to stay with them, but they do have an internship program, which it would be unorthodox. It might be what you have to do, though. Start getting in there. It's just a unique situation in the current market. Yeah, $60,000. I mean, it is hard to let $60,000 sit. If it was $40,000, I'd be more comfortable. That's just going to...

compound like that's gonna be it is but on the traditional 10-year plan it's just like again i would rather invest we'll talk about it i mean that's the choice you end up making oh my why do you owe eight thousand dollars to your parents i didn't even see this originally to i think they just snuck this in before i came in uh to my brother to your brother you owe eight thousand dollars yeah i'm gonna tell you why one two three four five six seven eight nine ten eleven now twelve insanely dumped

What is happening? So this one here is because we needed to get into a place, needed the money because... Maybe don't give it car projects instead. Sorry, go ahead. That's fine. Needed the money to get into it because we didn't have enough for the down payment. We got the money borrowed to us.

About a month into us living there. You mean like security deposit first month? Yeah. Kind of thing? But this was after we had already put down a first and last months and a security deposit on another place. Okay. We moved to said place and started getting harassed and- Tire slashed. Like it was- Yeah. Harassed. Like a note glued to my windshield- We never knew. With epoxy. I knew who-

It was a neighbor. I don't want to get too into it, but I confronted them and it didn't end super... I wouldn't have confronted them. I would have gone to the police. I did, actually. I did. I did. I filed a report and nothing happened. I sent in all the documentation. How often did you follow up? I would have called the police. Yeah, I called the court. First of all, they don't even let you... I mean, sorry, Phoenix PD, but you guys need to get your shit together. But they...

send you through a system. You don't get to talk to anybody. And when you call back, you're just getting like an automated message telling you, yep, nothing new with your case. And so I got tired of getting harassed by these people. What about like...

So it's not that I would want you to do it because I don't want you to abuse it. But like, it's like, you know, a live situation. If they're alive, then it's like 911. Someone is at my car with a knife. Yeah. So we did have. But that feels wrong. The lady did come up to my window and was banging on it and threatening me. And that's when he went over. Oh, I should give context. Yeah. Yeah. I mean, she she was trying to pull into the driveway. She had a modified car. So I'm not the only one with the car.

love she had a modified car with a pretty loud exhaust and as she was trying to back into this very narrow uh driveway the lady came up to her window and started banging on it and yelling at her i overheard this from inside ran out and saw her walking back to her house and i immediately confronted them i was like this is absurd you're not you're not gonna walk up to her window and do that like why was she harassing you guys

- Do you want to know the real reason? - Yeah. - Our vehicles are too loud? - No, it was worse. - That would annoy me too, but. - It was way worse. We parked in their spot. - Oh yeah.

We were not given any information on where we were allowed. We were told. I told them explicitly, I have three cars. I have one that can fit in that garage. Can I park my vehicles here? The person who rented us the place was like, absolutely. It took us a while to get our... Wait, was this like a house? It was a townhome type situation. So where they lived, they were not the same landlord? No, it was the same landlord. We're in the same complex as each other. Why wasn't the landlord doing anything? So apparently this...

has been causing so many issues in that neighborhood that the landlord caters to them. Quite literally, is what we were told. The spot that they were claiming was theirs is not an assigned parking spot. It is a free-for-all parking spot. But they made it for them. They made it for them and they told nobody else. Presumably because they do things to people when they park there. Absolutely.

- Oh yeah. - Absolute savages. I was like, are we in real times? Like people do this to each other? - Why did the landlord not let you get out of your security deposit? - So she did, it just took a while. - Then you would have put it back to your brother. Why is the balance to your brother 8,000?

because we then needed it to get into another place no i get it but you would have you said you got your security deposit back in your first month yeah right there was a point gone back to the brother so why the is the balance to the brother eight thousand dollars there was a point where we were trying to give him i think six or something like that and he said he wanted it all he said he said he said are you completely out of yeah he said that and he's like do you guys still have credit cards and stuff and he's like okay yeah he's like he was yeah he was

yeah so no minimum to him no no he said he didn't want us to do the minimum he said when you got it send it to me so it's gonna be a long time till you guys got it yeah yeah i mean ideally i that's one of the ones i want to get my checking accounts yet this one that you're gonna look at right now is a combined so it's our first attempt yes this is our first attempt to harbor freight 232 dollars

Fry's food, $3,970? That is a money order. That was our money orders to put... Because we were putting down for the wedding venue and we ended up not doing it. But we got it back. We got it back. So you should see a nice little deposit in there. You'll be happy to know that the reason we're married right now is because we decided to elope because $14,000 to pay for a wedding was not ideal. Going inside, getting some bullshit probably and...

PayPal transfer, $1,600. That's how we pay rent. That's rent. Okay. ATM withdraw $103. Who knows what that went? ATM withdraw $363. Who knows what that went? $363. Oh, yeah. Is it the... Which ones? The ATM withdraw. $363. Those... We looked at this the other day and we finally figured out what it was. Let me just not know. That's such a substantial amount of money. I lost...

$10. I would at least know what that was. Yeah. It was... I can't remember. I want to say it was for a car... Oh, it was. It was for a bike repair and the guy cut me a deal and wanted cash as a result. Stupid vehicles. Yeah. I think you need to make a vehicle mental health disorder for this guy's shirt. Do they make those? She does. Oh, right, right. The shirt. Sorry, I meant the disorder. I was like...

She'll just put a big choo-choo train on her shirt for you. Like me with like a binky on the choo-choo train. No, we do that in the thumbnails. There's actually a famous photo of me when I was younger. I fell asleep on one of those toy trains that I got for Christmas. My parents found me the next morning still rolling around. Oh, that's cute.

I was an adorable kid. Yeah. Yeah. What's not adorable is ending this checking account statement, which is yours with negative $39. It's not very adorbs. Ha ha.

Not cute at all. Less than adorbs. Yeah, that one. So the way we had it structured with the bank account is we were going to put all of our bills into that Navy Federal Bank account and have all of them auto-debit out of there. And then the savings would be an actual together savings. And how's that going? Because we're negative in a checking account. Because I still have my credit cards. I still have my credit cards pulled from their minimum monthly. Okay. Okay.

all of you're saying does that justify it being negative no i need to rework like how we do he needs to stop making crazy purchases oh okay so we went and got some bs spa bs yeah bs bull oh from the bowl team arizona 179 dollars that's the um motorcycle that's the motorcycle guy so that was actually a class for her

And when she first took her spill on her. Stop. You're supposed to be teaching classes soon, so you'd be able to do that. Yeah. What are you doing? To be fair, we went to that. And that's when I got the job opportunity. You got some BS. Yeah. Some Apple purchase, another Apple purchase in phone. We didn't got some BS. We didn't got some BS. Cycle gear. Oh, my. Cycle gear. F*** me.

Potential groceries that would be as hard to tell. Apple, ATM withdrawals to $200. Lots of ATM withdrawals. Blackrock Coffee. Those are... Again, we're doing this while we have negative in our checking account. Great. That's wonderful. Thrilling. Amazon. Went in, got some bull... You stop at stores all the time and get $3 purchases. $3 purchases. $3 purchases. Oh, you don't even know. I don't... You're stopping at Fry's and you're getting a $3 purchase. You're stopping at Whole Foods and you're getting a $3 purchase.

And you don't even know and you do it almost every day. What a joke. Almost every day? Yes! I can't even remember the last time I was at Whole Foods, to be honest. On the 6th of the month ago.

365 market. Is that your job? Oh, sorry. That's the little market that we have. I know. I know exactly. Because I read it on there and I think the same thing. That's like our little vending machine at work. That I do do often. Well, stop. So basically the same thing. And Amazon winning got some bullshit. Circle K. You did it again. $4. Circle K. You don't even know what you get ever. That's great. And Apple bill in-app purchases. Amazon. Amazon. Smoke land.

We do partake in the marriage. Do you want to partake in paying off debt? Yeah. Yeah. Yeah. Apparently not. No, no. You're participating in your partaking in negative checking account. Yeah. That's worth it. Great.

There's a vending machine, probably another vending machine, Amazon, ATM, which are $201. That's my crippling addiction of Facebook Marketplace. I see a deal under $200 and I just... Stop, buddy. You made your minimums on your debts. That's it. Facebook Marketplace, put the $200 towards ads. I should really delete the app. It's a joke. It's a joke. I've tried to get him to stop buying things on Facebook Marketplace. But I'm a good convincer. Why aren't you listening?

I end up convincing her that I need said thing. More often than not, I'm just... Obviously you don't. And honestly, I have no effort to convince you at this point, this far into the conversation. This is stupid. This is objectively stupid. It is. You have so much debt. You have so many goals. You're not getting into them. You're now in a marriage situation. Both of your futures are tied together, financially speaking as well. And you're putting Facebook Marketplace over each other. That's an immature child behavior. Stop doing it. That's dumb as f***.

Zelen out, $250. Probably another Facebook marketplace. Zelen out, $220. Probably another Facebook marketplace. Also stupid, immature behavior. Apple bill, wonderful. Zelen out, $40. Great. Okay, 401k, $9,000. Who's this and does it still exist? These were all current and we both have Empower accounts. That's good. $9,000 there. Someone needs to work for U-Haul, $24,000 there. That's good. Happy to see that. Retirement, you guys.

Actually, my retirement account is very fluffy. So you're the good one with retirement. Okay. 17,000 infidelity. Who's this? Me. Okay. So you're the one that's been on track of this. You're the one that this one's also you. 1800. Good. One of them should be me. I thought I, uh, well, yeah, it was a small bounce and then you would draw one as well. Right. That's $11,000. Again, this one's you. Wonderful.

Those are probably mine. You trade $98, nothing. Yeah. Fidelity, $9,000. 401k. And this is you. Okay, there you go. So, Fidelity, also you, $2,000. Individual brokerage, maybe? Yes. No, IRA. Rollover. Yeah, rollover from a 401k. Mm-hmm. Okay. Okay.

Well, that's actually the one that was 14. It's not as bad as I feared. Did you mention something of a 401k loan, though? Yes. We did, yeah. That's what we were talking about. Oh, so you didn't take... No, we didn't take... Sorry, we didn't withdraw. And when you were talking about the penalties, I wasn't... I was pretty sure that when I did the research that doing a loan, I was essentially just paying myself back with interest, but...

We didn't take it out. Sorry, we probably misled you on that. I wasn't willing to check you on that. We took it out, but it's paying it back to his 401k. Yeah. Honestly, I didn't even realize that you could take money out of your 401k. That's probably a good thing. Yeah.

I'm scared that I told you now. No, no, no, no. It's never been a thing that I thought was a good idea. But when I was told that you could take a loan out against it. Guys, your minimum monthly payments are $2,834.35. Yeah. Wait. Okay. Now what do you owe on the 401k? Because now I got to include that. Oh, right. That minimum monthly is. No, what's your owed balance? We. Oh.

I don't know. You would have to verify it. I'd have to look it up. That I don't know. We're an hour and a half into this. How do you not know this? What's your minimum payment? The minimum is $169,000.

- And I assume that gets taken out before your pay hits. - Yes, yep. - Okay, so we don't have to include that in this minimum. - Right. Right now, if you guys use my Moomoo link in the description below, you can literally get 8% on your money that's sitting in there for three months. It's absolutely incredible. Plus you'll get 15 free stocks just for signing up with my link. This is literally free money, so make sure you're taking advantage of it now. There is no reason not to. Sign up now, link in the description below. Oh.

Me. Guys, absolute insanity. Yeah, we have an unhealthy relationship with that. Yeah. The only thing that's honestly going to fix it is literally simply disciplining communication. Well, okay, those things are not simple themselves. The idea of

What you guys have to do is a simple concept, but going into it, that's where it becomes a little more difficult. You guys need to sit down on a monthly basis, look over your last month, last month spending and how it is associated with the budget you guys created going through the budgeting program. Um, and yeah,

Fix it every month to see what you need to cut back on, what you need to adjust in your overall budget. And then what are your goals? What does it take to get there? What do we need to get there? And what sacrifices do we need to take as well? And then just discipline to make sure you're holding each other accountable. No more Facebook Marketplace. No more whatever the f*** you do. Bobbleheads or whatever. There's no more... It's holding each other accountable. Not getting angry at each other, but holding each other accountable and getting to the goal together and wanting to achieve it together. Right.

Dang. I really thought we were going to be better in spending. $187,000, $354, a bad debt. Nothing's an asset. Well, the car is kind of, but barely. They're not as liquid as I thought. No. They're very solid. Income. Is this right? Only $5,443? Yeah. Yeah. Yeah. $5,443? Yeah. Okay. Okay.

Great. So half that's already going to minimum monthly payments. Right. On our bad debt. Nothing that's going up in value. Oh, okay. Yeah, because I feel like we have curbed some of the spending. And you guys are talking about getting a house?

But at this point, we're just in such a... The spending was, honestly, compared to a lot of people, sure, it wasn't ridiculous. But for your situation where more than half of your income is going to your minimum monthly payments, your spending was atrocious. Right. Considering that it should be net zero. What's your rent? $1,600. Utilities? Utilities are... Are you counting internet? Sure. Okay, cool. That's $250,000.

Okay. Gas for both of you together. She works from home. You still probably fill up a little though. I have a long commute. I have a 60 minute commute. Okay. Gas across the board? Is going to be 100 almost on the dot.

For both of you together. I don't drive at all. Okay, car insurances and everything? 160... That one's 167? Yes. Just one? Yeah, that's for both of us on two cars. And the cycle? Oh, the cycle is through Progressive, and that one is $45, because we only have liability. Okay, so a total of 212. Yeah. Okay. Okay.

Guys. TP Fund, anything else you guys need is $550. You can do $550 meal prepping. Don't go out to eat. We do meal prep and we spend more than that. Yeah, you're doing it wrong. Stop. We have a...

In the budgeting program, we have a meal prepping thing that follows. Okay. $250 budget actually for a single person. Okay. Which we round up to $300 by upgrading some things. We get our meal planning from our trainer that we pay $200 a month for. That was one of those zelling. Yeah. Yeah, which you guys do not do anymore. Okay. I want you to do it. I really do. It's honestly been- I put gyms and stuff in. I'm pro that. Yeah.

It's probably the only reason we're here taking care of this right now is that we started to take care of the health. That's good. But 65% of your...

We'll see if we can put it in. Okay. I'm going to do $550 now for groceries and we'll see if we can put that in. Let's at least put in $40 for Jim. How much is Jim? Jim is $40 for me, $10 for her. So $50 for Jim, okay. $50 for Jim. Any co-pays and like that on a monthly basis? Medical? We don't pay, not for your medication. It's all free, right? Pets? My medication is free. I do pay for my appointments. Oh, right. Which is how often? Yes.

Every two to three weeks. How much? 22 each, so like 44 bucks a month for a therapist. Perfect. Phone bills? Phone bill is... 187. Do we owe on our phones? We do. We did, yeah.

Did or do? We do now. We had them paid off and then we got phones through Verizon and through Best Buy. I would do something cheaper like helium, 20 bucks a month per line. Just makes sense when you're out of debt or when you're trying to get out of debt, but whatever. Okay.

Anything else I need to put in here that's not included? No pets? No pets. We have a pet, yes. Oh, yeah, sorry. We have a pet. Do you pay for insurance for a bull? No. No, we don't pay for insurance. What's your pet? A lizard. A blue-tongued skink. Okay, how much a month to keep it alive? She eats once a week, so it's... Like 10, 15, 20? Yeah, we buy her food every other month, if that. Okay, plus 20 for pet. She eats what we eat. Plus 20 for... Okay. It's a thing. They eat.

Whatever. You know what else is the thing, guys? I mean, you're under by $500. Yeah. So $5,997.35. So no, we can't afford a $200 trainer. No, we can't afford a more expensive diet. And our diet was a healthy, following just standard caloric needs diet without junk food and stuff that we put in the thing we'll give you. So I want to start a marriage. No. Starting from the rock bottom, making it all the way up. You're below the rock. Below the rock? Like Patrick.

But no, it's definitely similar. It's like this is such a climb that minimum payment is so high that this is one of those situations where bankruptcy might be easier. Really? And I hate that because it's going to be really stressful to go through. It's also expensive to go through. You have to come up with some cash, legal fees and lawyers, all the good stuff.

And you're going to be fighting for certain things and you can figure out your car situation. You know, you don't have to include that in it. Your student loans won't go anywhere, but it would improve the situation because right now, really the only thing you can do, this is cutting back to zero. You're already under $500. The only thing you can do is literally you have to go bring in an extra $1,500 a month together. Easy. Yeah.

Easy. I mean, too easy. Why aren't you doing it? And you're right, because we did it and it was hard and that's why we're not doing it anymore. But there was a point where we were both working multiple gigs. Okay, if you do that... I don't know if you know, but we have a roommate that pays $600 a month. Oh, I didn't know that. You did not know that. So you guys are positive $100. Barely. Okay, well, that helps. Well...

We'll see. This would be, he's, he's lived with us for a bit and this would be the first, uh, time that that's happened. So, so he's never paid rent. He has been paid a little bit here and there. I just don't like counting on it. I suppose is the way I, I put it. We, we just did our agreement where he's going to be paying 600 a month and he said he can do it comfortably. So that's, I'm not suggesting bankruptcy and I'm not going to, um,

I'll be honest, I didn't know that that's how the conversation was going to be ending. $187,354 of bad debt. If your roommate doesn't pay debt, you're under $500. You both make, I mean, you guys make over six figures together. Yes, you can go work and you can start paying this off. But if we bring in an extra $1,500 a month and he doesn't pay rent, this takes 187 months to pay off. Oh, jeez. Bring in an extra $1,500 after taxes or 15 years.

So that's where I'm just like... That's a long time. There's a certain point where it makes sense. I'm not saying it makes sense. I'm not saying it makes sense. How do I catch that point? Bankruptcy for credit for like a decade. Right. Decades quicker than 15 years. Now...

And the thing is, if we were in that really strong tech market right now and you could just go land a $150,000 job right now, I'd be like, oh yeah, grind this out. You can do it. But I think you're going to be working your way up through lower paid jobs, through internships, getting that experience. I think it's going to be a while until you're going to be making your income for a while and then it's going to be a while before you make like... My hope was that if we could get like a bare minimum zero plan to keep the...

going until I can land one of those jobs? You can do that if he pays his rent. If he pays his rent and you guys literally don't spend a single cent on anything outside of the budget I gave you, which is very difficult. Yeah. Very difficult to maintain that. That's an un... Especially because I thought my spending was so much better than it apparently was. People have called my budget... A caveman budget? No. I forgot the term. But it is hard. Prison budget? Yes. It basically is. It really is.

And it's not meant to be sustainable. It's not. It's get yourself out of this in a temporary situation. But your temporary situation of cutting back to zero and bringing in an extra $1,500 a month after taxes, your shortest situation is 15 years. Yeah. It's obviously too long. But I mean, I'm still... I still don't think bankruptcy makes sense because I have the upside of... And again, I don't want you to go through bankruptcy. I'm just trying to think. This is like...

there's a percentage in my mind if I was right over there where I might do it. A percentage. Right. Not a majority percentage. Not even a quarter percentage. But there is a possibility we're talking to someone in the bankruptcy space.

Might be ideal. Well, maybe not ideal, but worth the conversation. Okay. Gosh. I feel like anybody I try to talk to that works with bankruptcies is just going to try to convince me to. Yeah. So, I mean, the way I would go about it is just gather the information you can from them, take into account that they might be selling you, and just weigh that versus the work that you're going to put in. You can work to pay this off. Okay.

10 years. Bankruptcy or this. Bankruptcy or this. You guys aren't getting a house for 20 years. That sucks. It does. But 50 getting a house. No, not even 50. You guys could maybe do it by 45. 45 getting a house. That's not bad. That's not bad at all. Yeah. I mean. You guys have dug yourself in your home. I'm glad you at least have some retirement. Yeah. That's going to be sitting there.

You guys are only contributing to your matches, right? Yes. Yep. We fixed that so that we weren't over contributing to anything that was free money. Yeah. We did bring our contributions down because we did know that we couldn't be putting 10% into it. I think we might have brought hers all the way down because I don't think her company even matches. No, mine's at 3%. Oh, it's at 3%. Okay. But I don't think your company matches because they suck. We'll not be named, but.

It's more so the education space that she needs to get out of because it's too limiting. I want a second opinion on this. This is all very live. We do that because this is one, it is a show. Right. It is a show. But two, I also want that it is for you guys to get finance help. So we like to combine those two here. I want to get a second opinion. Are you guys willing to sit down for an hour with our financial coach? Yeah. Yeah. Absolutely. Okay. So let me get you guys to get with our financial coach, Reed.

you guys can sit down with him as well go to calebheimer.com um he's great yeah he's a cpa he's focused more on taxes but he's very well studied on pretty much everything finances he's getting his cp uh he's uh he's gonna be uh cfa and all that stuff but yeah because i want a second opinion on this because again i don't want you to go through bankruptcy that's really stressful it's really expensive

I know people that have done that and have been in a better place because of it. Really? Oh, yeah, yeah, yeah. Actually... I mean, is it worse than this or about this bad? It really depends. It's going to be very situational. It's going to depend on the strain of the relationship. If you guys are okay with your credit being in the tank for like 10 years, I mean, I'm sure your credit's not good. So we actually had a former guest on the show. Unfortunately, their episode was never uploaded because their episode was actually lost the

There was an episode when we recorded at my house where there were two episodes that day. We lost both episodes.

and uh she's a guest but you know been in contact via email and everything like that and she chose to go through bankruptcy i didn't tell her to i didn't even suggest to but she chose to and it actually ended up working very well for her and she's in a better place for now she could have worked to get out of it she had an easier path to get out of her view she she honestly went the lazier route for it but it has worked for her gotcha i mean

I don't know. You guys are in almost $200,000 of really bad debt. And with the way you guys are living life and the fact that you build all your debts up again, I wouldn't trust you guys to sell with access to credit and stuff. Would it be, would it make sense to consolidate the debt and pay? Not for you because you guys built them all the way back up again. Because we tried that. It wouldn't. Yes. Yes. If you guys are disciplined, you're not. If you can prove your discipline for a while, maybe.

And then maybe close the other account so you can't have access to them. Right. You need to have access to consolidation. You guys have so much debt now. At some point, the only debt you guys will ever be approved for is going to be the worst of the worst. I don't know if you're there yet, but I wouldn't be surprised if you're getting there. Yeah, it's pretty bad. All right. Household Hammer Financial Score. Spending at a budget. I mean, you're over. So, well, actually, let me see. Terms of income went in versus spending. I'll tell you guys.

How much do you guys think you spent? We already knew that income was $5,443. Yeah. How much was spent? I think we're at $5,400. Taking into account the money order that was returned, it was about $7,000. So you were overspending your budgets to zero out of 10 debt. I mean, you're lucky. It's a one out of 10. It's basically as low as you can get without having IRS debt or collections.

Emergency fund, nothing in savings, zero out of 10. Retirement though, this will be the one thing that is going for you guys. And for your ages, I'm actually quite happy. Combined, between a six or a seven, I'll be nice and give a seven. Thank you. Because you guys are the least pleasant people. Real estate, zero out of 10.

Hammer Financial Score rounded up two out of ten. Make sure to check out all the links in the description below. They are the resources that a user would use in specific situations, including the best budgeting and investing programs in the history of the internet, which are now bundled together at a lower price. Now make sure to join the membership here and join us for the post show. Today on the Financial Audit Post Show. Oh.

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