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To watch episodes of Financial Audit a week earlier, check us out on YouTube. Now, whose idea was it? Who do you talk to about this? My mom. Call the mom. Good. Pops? My dad. Okay. Hey, dad. And then you have access to her account, and so the security and everything will get ripped. You know what? You're messing with the wrong person. I'll just let you know. You guys will get busted. I'm just telling you. You have the good summary terms on the internet.
Hi, my name is Jennifer. I'm 24 years old. I'm from Fort Worth, Texas, and this is Financial Audit. Thanks for coming down from Fort Worth. What do you do for a living up there? Yeah, I work in insurance. I'm an insurance agent, roughly, like in the DFW area. Insurance agent. So everyone's favorite person I talked to in this entire world. Okay. What are we making in this position? I make about $53,000 gross annually. Okay.
Okay, is there commissions or bonuses, and is it after that? No commission. There's no sales involved in my role. I'm more of an entry-level starting position. Sure. Yeah, so. How are we living off of 53 right now? How does that feel? How does life feel? When I first got the job, I was living pretty comfortably. I was able to afford rent. I was able to go out with friends and stuff. But in my situation currently, I'm struggling financially.
Why do you think you're struggling? I mean, 53 is not terrible out of the gate. Is it a single household income? Yeah, I live alone. It's just me in an apartment. So I can definitely see things being a little tighter, but you're not horrendously far off from being near that minimum median household income.
Now, Detroit-Fort Worth, it's not the most expensive city, but it's certainly not the cheapest. You're definitely getting a little on the higher end. So I'm not saying it's easy to live off of that. But why are things struggling right now? I'm curious. I live in a pretty nice part of town, I want to say. I kind of moved on up. I tried to get out of living in a rougher area. So I moved into the city. And my rent is pretty high up there. It's the most I've paid since I've moved out.
But I just wanted to be closer to the city, closer to work, have places to go hang out with friends and stuff like that. Okay. Do you prioritize fun? Fun prioritize for you? What is it getting out of that?
um not not i mean i like to go hang out with friends like try new places and stuff there's a lot to do in downtown so yeah let's go check places how close are you to downtown pretty close i can literally walk like i have pretty easy access yeah okay so on the income side what we had was 3200 come in does that sound about right from payroll yeah a month okay what do you think was spent well um
I don't know. Like between rent, tuition and stuff, my other spending is like. Tuition? Yeah, I'm in school. Oh, really? Okay. What do you study? Business management at TCC. Business management's good. Okay. Yeah. Very cool.
Yeah. I don't know. I just kind of got into it like recently in 2021. I went back to school because I dropped out like 18. I didn't really know what I was doing. And I got into my field and I was like, you know what? I kind of like this. I want to...
pursue like this degree so i got back into it and i've been doing it like on this like part-time because i work full-time well as always just like anyone on this show i'm happy to gift you certification through course careers if you want to boost up your post-college resume as well but what do you think you spent spent um again payroll came in 3200 32 yeah what did you spend what went out well i i was what went out
I went to the airport, dropped my books. What went out? Okay. Food. I spent it on food. What went out? What? The number. How much do you think you spent? We can go into details. What do you think you spent? I think I probably ended up in the negative. I had to pull. What do you think you spent? The number, number, number. The numbers. Okay. What do you think I'm saying? Probably like.
Sorry. $3,400. Okay. And that's what I wanted to know. So you thought you're $200 over. Yeah. Roughly. I think it was probably a little bit more. What then? What number? What number do you think you spent? I didn't really look at my account. What do you think you spent? Just based on you knowing your life. I want to see where you self-assess. This is important. I want to say $3,435. Okay. Okay. Okay.
So you think you're $200 to $300 over? Mm-hmm. Okay. You're $1,500 over. I am. So how, where are we in life where you think you're only a couple hundred dollars over, but in terms of what came in through payroll, $1,500 over? How is it so far beyond different than where you think you are? Like, what is going on? Where are you right now? I can't.
I didn't know it was that much of a difference. Well, I know that because you told me three to four hundred. I really thought it was going to be like a couple hundred because... Yes, that's what you said. But why do you... Yeah, you told me the number. I know that. Yeah, yeah, yeah. Why do you think there's such a disparity there? Because I kind of just swipe the card. You're a swiper. I use like Apple Pay. Swiper, no swiping, dude. I don't know. I didn't know it was that bad. I have people helping me out, you know. So sometimes I don't look... People helping you out? Yeah.
Yeah. What? My parents sometimes will like sell me if I need some extra money. Do you need extra money though? Because you were over by $1,500. Where did that extra $1,500 go in your mind? It helps with rent. Okay. What's your rent? My rent is like $1,550. Okay. That's expensive. $1,350? Yeah.
Yeah, 1550. 1550? Because you need to live next to downtown, right? That's where my work is. It's pretty convenient. Not everyone lives next to their work. I live 15 minutes away from here. Yeah. This is my business. I got to choose where it goes. I can literally walk to work. Like, that's how close I am. I think it's pretty, it's easier. And that's worth spending 48, over 48% of your net income on?
At the time, I thought it was a good decision. I was like, I'm gonna be saving money on gas. I'll be closer to like downtown to do some stuff with friends. That's fun. That's great. That's a want. And I want you to be able to do that as well. I also don't want you to spend over 48% of your income. I understand. I don't know. Well. That's horrendous. So how much did your parents send you? Like I said, they just kind of, whenever I asked. I had Zelle in $104. Was that them?
Yeah, sometimes if I need, my parents kind of look at my account just to make sure I don't go overdraft. So if my dad usually is the one like, hey, you need to make sure you have enough money. How much so? Because in your application, you were so proud that you've been living on your own since 19. It doesn't sound like you're living on your own. Sure, physically, but it doesn't sound like financially. Yeah.
If you're getting money from the parents. Well, a lot of it is coming from my paycheck. Like I do work really hard to make sure I can like afford the things. Sure. But then half of it goes to rent because you want to live in a walkable community. And I think a lot of people want to live in a walkable community. But because so many people want to live in a walkable community and there's so few of them in the United States because we've really built our infrastructure around car transportation, meaning that those areas are more expensive. But because those areas are more expensive and it's still a lot deciding where you want to live, you want to be able to walk.
walk to work you want to be able to walk to the bars because you've chosen that you've also chosen the higher rent and that higher rent for you ends up being over 48 percent of your income okay i actually i thought i was doing like a service on myself for sure but obviously you're not i well the last apartment i just moved i just moved out of this other apartment like two months ago i and i was paying more than that so i kind of downsized in a way it's a smaller unit paying more than that now that's just but that's just idiotic to pay more than that
Like, right? Well, I was paying like in the 16s. Question. If I'm shooting up, if I'm taking three puffs a day, does going down from two equal I'm doing a good job? It's an improvement. I mean, it's kind of. You're right. That would be an improvement. Still doesn't mean it's good.
Yeah, I guess you're right. I understand. I just thought at the time, like when I was touring the property, they gave me a pretty nice rate and I was like... Why? Why do you think that's a nice rate? Maybe for the area it is, but again, for you, it's all about your situation. I
I know, I know. And well, here's the situation that happened with the whole moving situation. So I had like went on a tour. I locked in a rate and they're like, like, this can be fifteen hundred. Would you like to go ahead and secure this unit? Put your deposit. And I was like, yes, of course, I want that one. By the time it came for me to move in, they couldn't get me the move in date that I needed. So I ended up paying for two months rent.
in may okay so like almost four thousand dollars in rent that sucks but regardless you still send a lease that's too expensive for your income you knew it was 50 right yeah yeah why did you think that's okay you're what your parents my mom helped me so you're not independent why did you apply and say you're independent
Well, I just wanted to be closer. I just wanted to be closer to my work. Well, yes, we know that. You've said that. That has nothing to do with the question I said. Why? I don't know. I just wanted to live in a nice place. That still absolutely does not even come close to answering the question I asked. Why did you say you were independent when your parents are paying for rent? I saw accounts transfer in $1,048. Is that them? Most likely. Okay, so you're not independent.
yeah i'm not but you think you are well that's what i'm saying like i'm most of the stuff like that comes like like my bills and all that like my phone bill my cape like everything i pay for that by myself i don't know they transferred in a fourth of your amount that you had brought in a fourth 25 ish
Really? It's a large amount. Well, yeah. Let's say you bring in $3,000. $1,000 comes in. Out of the $4,000, that would be 25%. I guess I have a problem. I guess I didn't really factor in all the times I was going to get food or something after work or grabbing lunch with a friend on the weekend. So your parents are subsidizing that. Yeah.
Do they know they're subsidizing that? Do they know they're subsidizing you and walking to the bar? No. I mean, sometimes I still end up driving like to the bars because it's like a pretty populated area. Oh, good. Good. Good. We spend 50% of our income to be able to walk to the bars, but yet we still drive. It's just, I don't know. And if there's anything that's good to drive to, it's a bar where you drink. Well, yeah. I mean, I don't go crazy. I don't go like super crazy, but I like whenever I'm with friends, I'm usually the one driving. I live closer to town than they do.
So it's just more convenient. Okay. I don't know. I just, I just, I don't know. I'm that kind of friend. I just go pick people up or I'll just, uh, I'll spot them. How much did you spend going out to eat? Man, probably like three, 400. I want to say, I don't know if that's right. You overshot that one. $225 and 63 cents. 225. You know, does your parents know they're subsidizing that? No, they, as far as they, what do you think? They think it's just rent. What do you think they would think if they knew that?
They probably wouldn't be helping me out as much, honestly. And it's been kind of deceitful, though, that you're not telling them when they're giving a good chunk of money to you. Is it not a form of lying? Well, no. I mean, my parents are willing to help me. Right, but they think they're helping, but really they're just buying fast food and other things. Well, I mean, they're also helping for like a portion of the rent. I mean, there was miscellaneous bullshit. That's just other stuff that doesn't matter.
Other stuff that doesn't matter, that was $817. That's basically what they give you. I honestly think in this conversation, you should ring them up and tell them. If you're actually here to take accountability for your life, absolutely. Because you're f***ing around. You're f***ing around. And guess what?
She wants to pull out of her 401k to subsidize her. That wasn't my idea. I, my, my parents were like, maybe this will help you. I was a little on the fence, but I just kind of like follow their advice. I didn't really know I had that much in my 401k. So instead of not spending $1,200 on bullshit combined, we're gonna with our retirement. Oh, we could just not spend $1,200 on bullshit. Or we could retire.
Hmm. Hmm. Interesting. Hmm. Okay. Well, okay. I thought it was a good decision. I mean, they kind of gave me advice, but I took it. I went and made the phone call. I was like, okay, this money will help me pay off the debts that I have. What? Is this already done? Yeah. The...
coming in the mail. I closed the account. No! How much did you have saved up? It was okay. Well, before they took all the fees and the taxes and stuff, it was like 10,000. 10,000. At 24, you were on your way. You were on your way. Dude, let's say you opened up a Moomoo account where I just buy different stocks and stuff like that. Let's just say that, right? Just for an example, how much were you setting this out on a monthly basis?
Setting aside? Yeah, what was the percentage? How'd you get to that 10,000? Like how much are you setting aside on a monthly basis? I honestly don't know. Like my job kind of set that up for me. They like invested in this stuff for me. Fine, let's just do 8% return annually. Okay. Let's just say you're setting aside 100 bucks a month even.
No, let's say $200 because I think you had to have been about $200 to catch up to about $10,000. Yeah, the initial amount of $10,000, you put in $200 over the next 36 years so you can take it out at $60, well, penalty-free. If it's Roth, then it would also be tax-free. That $10,000 plus the $200 a month and 8% return on average would have gotten you to $675,000. But instead, we're taking it out. Instead, we're taking it out.
So we can continue to spend $1,200 a month on bulls. So we can spend 50% of our net on rent so that we can walk to bars that we end up driving to anyway. You know what's worse than overpriced takeout? Seeing your hard-earned cash go straight into the trash. If you're tired of wasting money on meals you don't even finish or even start, today I've got a game changer for your wallet and your time. It's Factor.
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Here is my thought process behind that. That one that I closed was from a former job that I had. It was $10,000 going to your retirement. That's a great start. I have one right now with my current employer. So I didn't think it was a big deal. It's like $3,000. Yeah. You cut it by what? 80%? I have time. No, no, no. That's the thing. That's the thing. You just gave up time.
That achieved it because that 8% continued to compound because that 8% that gets added on to that $10,000 turns into $800 that year. Then all of a sudden now we're at $10,800 and it compounds every time on top of that. It just gets bigger and bigger and bigger and bigger. But you taking that out, you've gotten rid of time because every single year you exist, you're getting closer and closer to retirement. But you've taken that out and now you've taken away time.
the best asset you can have in your 20s which is literally time to let your money grow you've done that so again you could subsidize making terrible choices but let's get into your finances because they need a little more context because i gotta remember we are doing a show here it's not just a conversation between us self-assess where do you think you are finances zero being the absolute worst 10 being the absolute best where are you on that scale
I think I'm at like a two. Okay. If you want your Hammer Financial Score, it is free. Link in the description below. And if you think that you're about to start pulling money from retirement and you need someone to push you about that, go to calebhammer.com slash apply and you can sit right here. Oh, this Discover Balance is huge. So the $10,000 wouldn't even pay this off. You said it's to pay off debt, right?
yes that's how did you get into a nine thousand two hundred nine dollar credit card balance by 24 years old okay well i took this card out i've actually had this card since i was 18 let's discover it yeah everyone loves it um one of the first i believe it or not like i was doing pretty good like i was just putting gas on it in the beginning and then i you know grocery bill here and there
But and I was paying the balance off. But over time, it just it just continued to grow. I didn't know like.
I didn't know when to stop because like, you know, the pandemic hit and I ended up like using it to help with some bills because I was laid off during the pandemic. That's hard. Yeah. And you didn't have an emergency fund. I take it at that time. No, I did not see that. So even if you're laid off during the pandemic, they were doubling unemployment. Right. So it was like file for unemployment at that time. Why? That sounds dumb. You lost it because of the literal thing that was happening and programs were in place to help people that lost because of the actual thing that was happening.
Well, I went. Why would you not apply? Well, I went and I found another job somewhere else. Oh, that's great. Yeah. So then this excuse no longer makes sense then because you use your credit card because you're unemployed, but you found another job. That's why you didn't apply for unemployment. So why would you use the credit card then? Because the job that I had was a little bit less pay than I was. I was working like a sales job that I got laid off on. And then I ended up working at Walgreens.
So I wasn't making. What was your income and then what was the next income? When I was doing sales, it was it ranged monthly. Sometimes I was making like three thousand a month. Sometimes I was making up to five thousand a month. Sure. And then when I got laid off during that, I went to Walgreens and I was making ten dollars an hour during the pandemic and I was working part time.
How many hours? Like 30, I want to say. Yeah, that is hard. So it was a pretty steep job. Averaging out to like $1,300 a month. That makes sense. How long were you at Walgreens? I stayed there for almost a year. Why? See, what I would have done if I lost my income by a third or a fourth, sure, I start that so I can have some money coming in.
but i'm applying to every job that exists in the history of the entire world every single day well i i was applying like i had like people sure but i have people say they were applying and they apply to like three jobs or something yeah like i mean i had i had an interview for one place but it ended up not working um okay no offense but if you're applying for like every job ever you would have had more than one interview unless your resume was complete trash you
He had a successful sales record. There were remote sales positions throughout the pandemic. At the beginning, everyone was a little scared, stopped hiring for a bit. But a lot of those, you know, tech companies and all the things that really went crazy during the pandemic were bringing on sales people like mad because they wanted to move.
I had a really hard time finding a sales job after all of that happened. Well, again, I think... I couldn't find any... What do you mean you couldn't find, though? Like, I was, like, you know, scrolling LinkedIn and I was, like, on Indeed and just looking for those sales jobs and...
I mean, I just couldn't find anything that was like either close by or like had competitive pay. Everything was remote during the pandemic. Oh, well, no, I was when I was doing sales, I was in store. Yeah, but it was you got laid off at the beginning of the pandemic. I got laid off like the middle of it, like May. So, yeah. May. Yeah. May 2020. That's.
I don't know if that's in the... It was kind of like 2020, 2021, and then like the first half of 2022. It was like the very beginning of 2020 when all that happened. Like March was announced. That's what I just said. Yeah. That's what I just said. You were at the beginning. So no shit, you were from work. And they probably saw... Everyone freaked out at the beginning. Businesses freaked out. So we're at $9,209.44 with $186 minimum fee payment. $1 of purchases. It's a little weird.
Yeah, but that one's like I don't have a limit spending limit anymore. So what do you mean? It's like I think my credit limit was like nine thousand three hundred. Yeah. Or nine thousand two hundred nine. So that's what that's the only reason you're not spending on it.
Yeah, I just don't want to make it go up any higher. I mean, I have another card. That's the reason not because you just shouldn't be spending it on a credit card because your balance is already there and you can't pay it off because you don't want to hit your limit? Well. Because you can't spend more money on that? Well, I can't. I don't want to have any more fees or anything like that. So I just put it on another card. You put it on another card? Yeah. Okay, obviously. And this is okay. You're not a credit card person.
And that is okay. You don't have to be. Everyone thinks that everyone wants to be. Yeah. You really don't have to be. You really don't. You're not, dude. Use, because you want to take advantage of the credit card. Yeah. So use the Fizz card where you can do exactly that. But it's meant for people like you who just cannot manage their finances. Because you are not a credit card. You can't manage this. And you're like, okay, I don't want to have the fees because I'm at the top. So let me just do minimum fee payments on it. And $165 of interest is accruing on here.
That's crazy. Something on Amazon. Yeah. Okay. So I made sure to like fix that. I like signed up for Amazon to go like order something real quick. And I used like the student discount or whatnot. And I forgot this card was attached because I used to use Amazon a lot. And this card was still on the payment method. I just had a moment of confusion. We just talked about how you got laid off in 2020. You said you used this card.
Yeah, I use this. Buddy, you're at the credit limit. So there's no way that you use this only right then because you wouldn't have only paid off $100 in four years. So what is the history with this card? Okay, so I did take out a loan with my bank to pay this card off. So it's been paid off already. I understand Dave Ramsey more and more every single day of why he refuses to accept consolidation as an option.
Yeah, I paid this card off before, but and I paid it off like two years ago. But this I mean, it's the balance. Just they gave me a bigger limit. And I just yeah, of course I did.
So I, yeah, I see now I probably should have closed it, but I, that was the only card I had at the time. Why would you need one in your mind? Because here's the thing for the consolidation stuff. What people like you end up doing that again, this is because you're not a credit card person and that is okay. That is not, I'm not like, you're not a credit card person. You're worse than everyone else. It's not that it's just,
You can't manage it. That's fine. So don't use it. Like that's totally chill. You don't need to be a credit card person. Who cares? But because you didn't fix any of the behaviors that got you on the credit card debt in the first place, all of a sudden you consolidate it and you have so much money you can spend on here again. And without fixing any of the behaviors, you just balloon it up and you ballooned it up. I did. I did. You're kind of doing this again though. You're kind of doing that again. You haven't fixed any of the behavior. We just went over how you spend $1,200 on bullshit this month.
And you're withdrawing your f***ing retirement to pay off a debt? You're just going to build a debt right back up and then have no retirement. Because you trained it to pay it off, but you didn't fix your behavior that last month suggests that. You're doing it again. You didn't learn your lesson. I will. Oh, f***.
I was going to take that money. I was going to take that money, pay this off. Yes, I got that part. And maybe close it because I don't need this card anymore. Close it. Not maybe. Close it. You cannot have access to this. You don't know how to manage having access to this. This is not a tool for your success. You are their money-making machine.
Yeah. Dude, they're profiting off you like crazy. Look at that. $165 of interest in a month. And that's at a low credit card interest rate of 20%. Yeah. That's low for a credit card. It is? For people on this show, yeah. Most people sit at 30 or something. Well, I have a few that are a little up there. Oh, I know. But even still, you're just doing it again. That's so scary. You have to close the account. If you're going to drain retirement, which is...
Okay, fine. You're doing that. You're going to get hit with fees. You're going to get hit with taxes. Wait, so what's your net? What's your net? You took out 10. What's your net? It was like 76 after all the stuff came out. Oh my gosh. I mean, you're also doing that in time when the market is good. So you're probably like, you had some gains on there and you were just, you're like, you know what? Those gains, I want to pay taxes on them. I figured it would help me and I have time to get that up. Potentially. Potentially.
But I don't know if you know what the word help is because the last time you did it, you just, this is where we are. We're at the max again. The last time you did a consolidation type thing. And this is you in a way doing it again. So I don't know if the word help is what truly applies. And $3,000 of it literally went up in flames anyway. So you just had, you just 30, 30% interest, essentially 25, 30% interest on the. That's what you just took out on your retirement. Really? Yeah.
If it breaks down. So you just swapped it. Yeah. Well, I mean, I don't even know. I mean, that loan is not even going to cover. I don't think I'm going to even get most of that. What? It was a loan? Well, no. Okay. It was a withdrawal. I think that's the term they used. A loan would have been better probably. And closed it. Then again, I don't think that would have solved your issue once more. But that's something on Amazon. That's my other card right there. I know.
It's right in front of me. Apple is $1,522.68 with a $52 minimum payment. You're purchasing things on here. What are you doing? What are you doing? See, this is what happens. This is what happens. You're going to continue purchasing things even though you pay off a card with that $7,500. You can't even pay off that last card with the $7,500 you get from the $10,000.
So what the f***? What are you doing? Panera Sip Club? Sip Club? So you can die from their charged lemonade? And then merchtable.com? They actually discontinued that. And then more Sip Club? They didn't discontinue it. They put it behind the counter. Oh, okay. I do actually like them. But yeah, no. There's a Panera close to work and I just go in there to grab something like for breakfast or something before work. That your parents are paying for. Reminder. In reality. Okay.
I don't know. I just, it's quick. It's easy. I don't really like cooking that much. So I just prefer to just pick something up. I don't know if that's an option. 50% of your income goes to rent and your parents give you a fourth of your money. I don't know if that's an option.
I don't think want is a word we really get to use. I'm just not like very like I always whenever I cook, I just end up making like it's my pad and I have to throw it away. So it's just a waste of money in my opinion to cook. Have you heard of recipes? Well, yeah, I'll follow a recipe and then it just doesn't go as planned. And then I end up throwing it away. Maybe you need to start basic recipes. Like hot. Oh, what was that? You put it in your clothes. It goes air fryer. Not I have one of those. What's it called? What's it called? The hot pot.
instapot instapot come on like it's not the most thrilling thing in the world but everything at least tastes like food when it comes out of it i don't know i don't really have i don't have an instapot i bet i mean i'm that's where i'll buy you an instapot if that's what gets you out of debt you're getting an instapot you're gonna look under your chair there might be an instapot you know i i don't know it's just uh like i said it's right there it's it's like close to the office i just go on lunch pick something up
This is the card that I use because the other one's pretty much maxed out. I didn't want to use it anymore. But again, I have to go back to this. You said, I don't want to cook. Like, that is not an option. Yeah. This is not an option. I don't really get it. In Sip Club, that certainly doesn't seem like an option. Well...
sip from your faucet dude well okay so they have like tea and coffee oh they do you can just go oh that's really interesting you know that that actually really is interesting because i've never seen if i'm not mistaken i've never seen coffee or tea at the grocery store well okay i i don't know they're just like i said it's it's hot it's like i just go pick it up you can serve yourself i walk to the office it's it's easier when i'm in a rush yes i know
That's a want. I know. How does that possibly excuse it? I know why you do it. Everyone literally knows why you do it. Everyone understands what this is. You didn't have to explain the SIP service to us. We know what it is.
How does it existing justify it to you? Your parents pay for your bills. Add up all your utilities and everything for your apartment, 62% of your income goes to your living right now. Just the roof over your head living. Yeah. It's a nice place. I mean, I just... Yes, I know. Which is why it costs that much. How does that excuse it? I'm so confused by you. Well, okay, so... Like every time I bring up something that you exist, you're like...
Yeah, it's because that's what it is. Okay. Okay, I secured that unit because I have two dogs and the unit that I'm in is on the first floor. I have access to a yard and it's easier for me to just get them in and out. You're doing it again. You're literally doing it again. I don't need to know why it's expensive. The reason doesn't matter. I don't care if it's expensive because you get to go in and get a drink.
I don't care if it's expensive because you're on the ground floor. That's not the conversation we're having. I'm so confused. What are we doing here? Is that what goes through your brain with every purchase? Is the justification? Because clearly you're just justifying everything. You're justifying using your parents if they don't even know it. Like, what are we doing? That's immature. That's a child. You're 24. You're an adult. Six years.
Well, okay. I came here to get help. I mean, obviously, I know that my spending is a little out. Like, I should probably get better at managing my money. But if I do not address your mindset, you're not getting help. Because you are so clearly, clearly trying to justify things beyond belief. Dude, you just literally tried to justify...
Sip club because they have tea because tea exists there. Like I said, it's right there. I mean, I get it. Yes, I can go to the store. Am I the only one that sees this? Am I broken here? Like, what is happening? Am I? Okay, I honestly. Is this prank week? No, no, no. I just I didn't even know about it. Somebody at work told me about it. They're like, hey, Shelly, you know, you can just go. I don't need to know why. I don't need to know why.
I don't even know why. I don't care. That doesn't matter. All that matters is you do it and you shouldn't because you can't afford it. Oh, my gosh. You're talking about going to the bar with all your friends, right? Yeah. Cool. Live with one of them.
Why do you live on your own? You're 24. It's okay to have a roommate at 24. Well, I had a roommate before. You live in a major city. I don't... I had a very bad roommate situation before. Was it with one of your best friends? No. Oh, interesting. So let's try to live with one of our best friends. But they all have, like, partners. Like, they have boyfriends and stuff. So I don't know. So what happened with the roommate then? So I... They were my coworkers. I had two roommates. So it was three of us in one apartment. And I just...
I was younger than them. And I... Well, how much younger before we play the victim card? Well, they were 26 and I was 19. Okay. So I... So you were an adult. Yeah. Yeah, I was. I was and I still am. But it's just whenever the situation happened, the way that we split costs wasn't in my eyes fair. I was paying a lot more than they were. Why? Why?
Because I had the bigger room. Oh, that's actually a pretty common thing, though. Usually the person that has the nicer room, nicer bedroom, pays, you know, a little better. It wasn't nicer. It was just I was upstairs. Bigger sounds nicer. I don't know. It was like right across. But one of the girls had their own restroom. Like, I just didn't think it was fair. Okay. Why did you agree to it? Well, at the time, I was really, like, itching to get out of the house with my folks. I just wanted independence and everything.
uh i mean looking back at it now i i should have just stayed but i can't change that i know yeah that i mean i can't harp on you for that it's not like you're doing that right now what you're doing right now is spending 62 on your roof that i can harp on but what was the bad situation other than you may have got an unfair deal okay so this was when i was still doing the sales job so i had like i i
Where I worked, like, I sold furniture and, like, electronics and stuff. So I, like, we all got together and we're like, okay, we need furniture. We didn't have a couch. We didn't have nothing. So we got, like, furniture. We got a new TV, washer and dryer. And both of them got...
That's okay. Again, it's in the past. I was the only one with good credit at the time. So I opened a credit line in my name and financed it all. How much? It was like...
With everything, I want to say it was like $5,000. At $19,000? Yeah, and they were supposed to help. This is where it gets pretty messed up. They were supposed to help me pay for it, but only one of them helped me. The other girl kind of backed out on me. Yeah, that's trash. That's trash to them. I mean, they're a bad person. That's been paid. It's paid off.
um it took a few years but i got paid off but that was does that really matter if we got into debt again anyway but yeah but that sucks that's that is a situation and i am sorry that happens and um that doesn't mean that i don't think you get i think that's a learning lesson on taking out debt for other people though i don't think that's a learning lesson on you can't have roommates
Yeah, I just didn't want to go through that again. Sure, but again, I think that's a lesson of you could go through that again without having roommates. You could go through that again by agreeing to put a vacation with a bunch of friends on a card and that they have to pay you back and then one of them doesn't. Like,
You can go through that situation in so many different ways. That doesn't mean it's a roommate situation. I understand that you're probably associating that with the roommate situation. So that's just more don't agree to pay for other people that you don't fully trust and doesn't have a record of paying you back, you know? Which it sounds like, I mean, you weren't... Or you're co-workers, but maybe not uber close or at least having a track record of them. And again, they do sound like a piece of s***. Don't get me wrong. I'm not a s*** person. But I don't think that means you can't get a roommate again when...
I want your rent to be closer to 30%. That's what I would want. 30, 35, you're with your, you know, the roof overhead. Right now you're at 66%. But where am I going to find something that's cheap enough? And also maybe just not living downtown. You might have to commute.
I have an exciting channel announcement and it's one of the most exciting things we've done so far. By popular demand, we've launched a new tier to our channel memberships. There you'll get an exclusive audit that can't be found anywhere else. It's ad free and completely uncensored on the first Tuesday of every month. On the second and fourth
Tuesday of every month, myself and members of the company will be doing exclusive member live streams where we hang out with you and talk about whatever you want to live. And finally, on the third Tuesday of every month, we'll be posting a new behind the scenes podcast called Crewcast, where we'll be discussing everything behind the scenes at Hammer Media. And of course, this new tier gets access to all the badges, emojis, and the financial audit post show. This...
It's honestly going to be really fun and I'm super excited. And we kicked it off this week with an exclusive couples audit and an updated office tour since we've expanded so quickly. Check it out. Link in the description below and in the pinned comment. Even when I like moved to like Arlington or whatnot, like I, it was still really expensive. I was paying like $1,200 at that time. Oh my gosh. What's more expensive? $1,200 or $1,500? Well, that was, I don't work. You work in downtown Dallas? Yeah. No, Fort Worth. Downtown Fort Worth.
So, I mean, I just, I wanted to be closer to the office. Oh, I know what you wanted. Again, that doesn't, like, you don't have to tell me that. I just, I don't see myself having roommates again. I just had, like a, I had multiple roommates. Sounds like you're not willing to sacrifice, though. Okay, in Fort Worth, and I can't speak for every single one of these places, but I am getting at below 1,200 roommates.
uh 98 results and those are complexes so then there's units within those complexes so 98 complexes i'm seeing 879 this place actually looks pretty nice it might be a commute it looks it is certainly further from downtown but it actually looks pretty nice has a great community center really nice pool thousand dollars this is like a like a condo that looks nice new apartment building
you know it might be cheap but it's 900 bucks dude there's options everywhere you just look because you want to live there you're again you're making excuses to live there you're trying to find justifications this took me two seconds like literally two seconds that wasn't even over exaggeration so i just i don't know i i just i've lived in like places that were we're gonna make an excuse again okay okay
I just lived in a place that wasn't that nice and I just wanted to treat myself to a nicer area. Wanted. Treat. Wanted. Treat. Wanted. Treat. I don't give a shit. Like, I mean, I care. Please do not make this a conversation where I literally care about your future more than you do. This cannot be a thing. If you don't care about your future, there's no point. I care. Not if you care about your wants and sweet treats more. Okay? Okay.
all right congratulations you've earned points to start redeeming on your care credit rewards card okay that's that's medical that i was i had to go get um what happened my glasses and stuff so uh so it was i yeah and i this card is i use it for like two separate things i i have hearing needs so i also use that really whenever i need to get an upgrade
But this is for my contacts and glasses. Well, $275.31 is a smaller balance than most. There's no interest accruing. It's a $30 minimum monthly payment. I'm confused. Why did you put $80 towards it? Well, I kind of like calculated with the sales lady. She was like, if you don't want to pay any interest, like you can just pay 80. And then by the time, I think it was 16 months I had. So $80, I would have paid off my balance without any interest. Oh, so okay. No, that's fair enough. I'm going to put that in quotes.
parentheses 80 bucks is what we want to aim for okay care credit oh because you are having deferred interest and that'll hit you so absolutely i agree i agree i agree
Home plus. Did you get a furniture loan? I did. When I moved to my new place, I didn't. Well, I got rid of my old couch because it was torn up and it was time for a new one. Dude, not to suck the zuck, but Facebook Marketplace is great. Well, I mean, here I found a pretty cheap couch. It was like 300 bucks. Yeah, but you financed it. Yeah, I didn't have the money to pay out in cash at the time.
But I mean, when I was there, they were like, hey, we can get you no interest. And I was like, okay. And so they were able to like, I got like a few other, I had to get a few other things to like meet. Had to? Well, there's like a certain minimum that they have. So that they can make money off of you. Yeah. So does that make sense then? Again, maybe we just get a couch off of Facebook Marketplace for a hundred bucks. You know the best people on Facebook Marketplace? The rich f***ers.
Because they literally just want someone to come pick up their stuff. And they're basically marketing. They don't even know what it's worth. They're just like, I want this gone. It's not going to affect their bottom line. It's going to be like pennies to them. I don't know. I haven't really heard good stories about Facebook Marketplace. Okay. How many stories have you heard? Well, I've heard a few people say they've been scammed or they come meet somebody and then they're stood up. Yeah, go with a friend. Here's a story. I've had good experiences on Facebook Marketplace.
Claire, one of the people that works here, has had a good experience on Facebook Marketplace. I went and picked up furniture with her when she moved here. Okay, so now you've heard two good stories. Does that offset your bad stories? No, but I mean, I can't do anything now. I can't do anything now about it. You're right, but you're going to buy furniture in the future.
No, I think this one's going to last me a few years. I won't. You're never going to buy a piece of furniture again. Well, like I said, for a few years or maybe three, four years down the line. Even still, three, four years down the line, I'm trying to prevent you from doing the dumb thing you did at 19 again. That was five years ago. Three, four years down the line, I want to prevent you from doing that bad thing. That's fair. Yeah, yeah. Well, maybe I'll check it out next time. Facebook Marketplace. Don't put it on a credit card.
Yeah. This one's free. So you have to make $115 a month to pay it off before interest. But it's a $30 minimum fee. But you need to do $115.
You see what you got yourself into? Where 60, what was it, 62% goes to the roof over your head? Now these monthly payments are stacking. Then you go spend $1,200 a month on BS. You see what you've put yourself into? That's what happens when we just don't. Have you ever budgeted before? Legitimately? Well, I've tried, but I mean, sometimes. So it hasn't worked. No. Obviously.
Okay, just like any guest who comes on here, go through our budgeting class, dude. Go through it. Take the quizzes. Truly take in the education. Take it as many times as you want. Take the investing one as well because you just sold your retirement account, so I need you to get back into that eventually, and at least you get $100 for free and coupons that I give you towards your investment account. But, like, for real, go through the budgeting one. Learn how to budget. Build it out in the class. You need to put some education behind those eyeballs, dude.
We need the knowledge and the practice and the discipline because these minimum payments are starting to stack out of control on top of your housing that you cannot afford. And you're taking money from your parents and they don't even know why. We're going to call them. They are. They don't even know I'm here. They're about to find out. I think if you're really going to take accountability, I think you need to actually take accountability, not have a conversation and say, all right, it's good. I think you actually, not with me, you know, with me, I think you actually need to put a step forward. Okay.
Welcome, authorized users. Synchrony. Oh, everyone loves a good synchrony card. What was this for? I think that's still, that's my home furniture. I believe so. Because I know it says... Oh, oh, oh, oh, oh. Yeah, yeah. I see. Yep. They like have a card. So the deferred interest so far is $585. Yeah, that's not our choice. We got to pay that. Oh my gosh. Yeah, yeah.
What is this? What is this? That's the loan that I took out to consolidate my debt on the Discover card. So not only are we still paying off the consolidate loan, but the... So we're still paying off the consolidate loan. All the credit cards are back up. And we just drained our retirement. And that all happened right now. But the retirement is going to help pay like those smaller ones. You're consolidating your last consolidation? Oh my gosh.
yeah no what can we do i don't even drink but can we just get in the post show because i'm gonna need a thousand drinks after this one oh i have something that like it will it will legitimately ruin your day are you cool with that oh there's something that's gonna ruin my day okay well well this has already ruined my day so let's ruin it further for sure okay yeah yeah i'm committing i'm committing you're
And then I'll tell you to f*** off later if I don't want to. Go back in your corner. Go back in your corner. I'll see you in the post show. Naughty little boy. Consumer loan, personal loan, consolidation loan. Yeah, it's almost paid off. It's like halfway there. Noah's getting ambitious. He stepped out here today. $7,000. What's it at 10?
Oh, that's the original principal paid today. What's it at right now? What's the balance for this? I can check. I have the app. Let me see. It's at 10.5% interest. Kill me. I actually got a discount on that. I got like a lower APR because I was an employee. Yeah. It's not. It's not pulling up. That's such a good deal. I think it's like 3,200 left to pay it off. So I'm like a little bit more than halfway there.
like paid off. I've had it for two years. When did you consolidate again? Um...
I don't know. I'm considering it because I know that the loan isn't going to... I asked, when did you take out the consolidation loan? Oh, this? I took this out like in 2022, like around November of 2022. So it's been a couple of years. Yeah, yeah. Money owed to parents? So not only do they give you money, but you literally owe them money? I do. For what? The moving situation. Remember, I had to pay two rents, so they helped me pay one of them.
So, yeah. But they're not like rushing me. They said, you know, take your time whenever you can get it back to us. You know, I asked if I could do monthly payments and they said no. They said they want it all back at once. You know, it would be their money paying them back.
I'm not proud of it. I didn't want to pay that much. I'm not saying you're proud of any of this. Don't get me wrong. It's more the... Justifications constantly. Less on this one, but the rest... I think it just makes me feel better because I'm not... I'm...
What does? Trying to justify everything. Well, yeah, that's what you're doing. That's your human brain. We're all flawed. We're dumb little creatures. We think we're more special than we are. Now we're like, we barely even exist. We're surviving. Like, of course, this is what your brain's trying to do to fight the fact that you've done some bullshit and you're finally getting called out for it. That's what happens. But we need to wake up. Checking account. Balance the statement. $30? $30? $30?
We have $1,500 rent. Oh my gosh. Oh my goodness. I did just get paid. I did just get paid. Oh, thank you. Yeah. And I paid the rent yesterday. Well, we also did Sonic Drive-Thru, Raising Cane, Hulu, Amazon Prime, Best Buy, 600 Blurs! That was a gift. That was a gift that I just purchased. It was for my mom's birthday. You can't! I know, but my dad went half with me, so I didn't see him. I don't give a shit! I don't give a shit! You can't afford it!
Daddy, I cannot afford it. I can't do this gift. I know. I just, I didn't, I would feel bad if I didn't get her anything. So I was, I, okay. All right. Yeah. Yeah, yeah, yeah. You don't feel bad about dying in poverty? I feel bad about that. Oh, okay. Which one would feel worse? Second one. Hmm. Choices, choices. He's not winning money out. To Fifi. That's my best friend. Okay. Fifi. I thought it was like a double fee. All right.
Apple bill, Jack in the Box, specs, Jack in the Box, Jack in the Box. All right. Top of the curly fries, dude. It's right there by my office. So I just. Congratulations. I'm thrilled for the proximity of Jack in the Box close to your office. Okay. All right. Do you have to walk through the Jack in the Box to get to your desk?
no oh then you don't have to stop there that's interesting raising canes is that on the other side is that at the exit door of the office oh my gosh it actually is great i just go where it's closest um yeah i know i probably shouldn't be going there as you know it's the closest when you wake up your kitchen jack in the box netflix wing stop fortnight fortnight the are you doing
Well, some of my friends live abroad. They're all over the place, so we meet up and play games whenever we can. Yeah, it's a free game. Well, no, we were trying to get matching skins and stuff. And so that's what that is. There was this Billie Eilish skin that they were dying to have, and so I gifted it to them. Billie Eilish? Yeah, I probably shouldn't have done that. I gifted them all...
their own so we could be matching i don't know it's a fun pastime that's what i do when i get off work when i don't have school i just play a whole you just spend money on getting billy eilish skins i know it sounds silly but it's separation canes then buy billy eilish skins like i said it's just for me to kind of connect with my friends that are like i don't know how billy eilish even runs with those things anyway texaco texaco going inside getting some fortnight
again fortnight again oh my what are we doing i was gifting i was gifting my friends four dollars for the four dollars on fortnight those vbucks are expensive so maybe we don't do them okay yeah yeah what i don't it was like a spur of the moment like we were i was like four times yeah jack in the box
AI? Oh, that's like the music technology I use for... I sing sometimes at my church. And so I have to use that to filter the tracks so that I can...
filter the tracks yeah like i have to take the the lead vocals out just to leave like the instrumental and the backing karaoke you can't search for karaoke version well no because it's like a whole thing like like my my church we can't get any copyright strikes we have to like use like pay for the the service and the song it's like a whole thing but i think i can get reimbursed for that so you have to how much
It was five bucks. No, I know. But how much do you spend for this? Because everyone else, they just get up there and they go, Oh, my God. Isn't awesome. God, we praise. I don't think they're paying for that. No, they're not. They're not. It's just we have a small like I there's not much really. We don't have a band or anything. So I have to have something in the back. Okay. Jack in the box. Nintendo. Jack in the box. Social house.
No. Oh, that was $14. Thank you guys. Wait, whoa, whoa, whoa. $14. Check the old spectrum. That was expensive. Okay, there's your rent. Panera Bread. Hey, mixing it up. Jack in the box. Apple bill. Apple bill. What are you getting? Gems? In-game app tokens? Because you do it again. And Uber. Oh, I have Apple One. The family. I pay for my family's Apple One. You have three Apple bills. So...
Okay, some of these are Apple One, and then the other one, my dad has a subscription to upgrade his iCloud storage. And then what's the last one? I don't know. I don't know what it is. Then you went inside and got some... Oh, guys, I was excited. I was excited walking into this because I was like, this dude, look at her. $24,000, $10,000 saved up for retirement. That's the loan that I took out. It's not a loan. You withdrew it. Yeah. A loan's different. So...
I still have one, like with my current employer. $3,000. You went from $13,000 to $3,000. That's your retirement. That's your retirement. Well, to be honest, I thought when I took it out, I was going to have $10,000. But after speaking to the guy on the phone, he was like, there's a bunch of fees and taxes that need to be taken out. So we ended up... Then why did you decide to still do it? Because that's fine. Maybe we were a little like... Okay. I needed it because obviously my credit cards... Did you just leave?
perhaps remind me the last five ten minutes have we not gone over uh going to jack in the box every day of our lives so did you need to withdraw your retirement or did you need to get some curly fries which one was it clearly in your mind you needed to get curly fries yeah
I like I said the this was just like the first step I was taking I was withdrawing that to help pay off most of these so that way I'm not paying so much on my credit cards every month I thought I was going to hell you're doing it yeah okay well I'll I'll stop like I've already cut up my cards have you cashed a check no I haven't I haven't received it yet it's coming in the mail I already I wonder if you can back out
I wonder if you can back out. I don't know. I don't know in that process. I'd call them and ask if you can stop. Let's find a way to get out of debt without compound. Because, I mean, yes, let's say it averages 10% S&P 500, maybe 12% at best. I mean, your 25% debt is going to be worse. With you getting hit 25, close to 30% on the capital gains and...
fees early withdrawal penalties like you're negating it you're negating it so the math isn't mathing i would want you to potentially stop we need to look at this whole situation but i need you to take accountability this is your choice i'm not going to force you to do anything call your parents i'll call them call your parents go ahead right now yes
This is taking accountability. This is actually stepping up for the first time. I don't know which one to call. Which one is the one that gives the money, you know, mentally? You know, whose idea was it? Who do you talk to about this? My mom. Call the mom. Pops. My dad. Okay. Hey, dad. I was just going to call you and talk about, you know, how you got, you guys have been helping me like with the loan and stuff.
Mm-hmm. Yeah. No, it's fine. What's up? No, it's fine. What's up?
I haven't really been that responsible with putting money aside to pay you guys back. And I know you and I have had plenty of conversations about this, about, you know, spending it on food and stuff. And I haven't beat that habit, and I just wanted to be honest with you. So I'm going to try to pay you guys back, but it's just going to take a little longer, okay? So what have you been doing?
I've been like, you know, like grabbing like fast food on the way home or something or, you know, I still go get groceries, but I mean, I don't cook as often. So, I mean, I do still spend like a lot, $1,200 apparently. I'm going over my finances right now with a financial auditor and they're helping me like look at my expenses and I have a lot of
spending that isn't going towards helping pay you guys back so i just wanted to be honest with you about that i know
There's just days where I'm just, you know, I'm not motivated to go cook. And I know that's not a great excuse, but you're right. I should not be doing that. So I do want to pay you guys back, but it's just going to take a little bit longer. I hope you understand.
Yeah. Um...
Well, I mean, the only my my financial auditor is having me just like call you. But I you guys, just to be clear, y'all don't y'all don't give me monthly income. Y'all just gave me the one time small loan when I moved. Right. I'm not I'm not asking you guys every month to send me a thousand bucks.
No. Right. I took that one-time loan, and I'm trying to pay you guys back, but obviously I don't have enough money set aside to give it to you all at once. It's going to take some time for me to get there. Yeah, but it's not just one. I deposit money when I see you. I see you will overdraft. Overdraft, yeah, to avoid a fee. I deposit money to your account, yeah. And who is your finance auditor? What do you have to call a finance auditor?
Because I needed help looking over all my accounts to make sure I'm making the... How does it cost you to do that? I'm not getting charged for it. It's free. From where? It's here. I'm in Austin right now. I know I didn't tell you guys, but I'm coming home tonight. You are in Austin? Because that's where he's based out of. Why do you have to go to Austin?
Because I found this guy online and I trust him and I... We reimburse you. Okay?
Yes, Dad. All right. Love you. Bye. I knew that was going to be bad. I didn't tell him I was coming here. Well, you get reimbursed for the travel and taking time off work. So you can tell him that. But I was brave. I was brave. I was scared to talk to him. He's tough. He's tough on me. Sure.
Hello, sir. My name is Caleb Hammer. So she's actually participating in a YouTube show called Financial Audit. So we reimburse people for their travel and time. So it's just it's a show where we sit down and we help people budget. So she's not paying for anything. She's actually being paid for this. And, you know, it's just an hour of filming and she drove down to participate and we just wrapped up.
No. No. Okay. Oh.
Good news. There won't be any of that, and we don't have access to any accounts either. Yeah, so you guys pay for somebody else to go and tell you the finance, right? So you have the good Samaritans and the internet. I'm sorry. Man, he hung up. He's mad. He's probably for the best. He needs to cool down. He's very old-fashioned. What?
That was very brave. That's a good first step. So, good job for that. I mean, you know, that takes a lot to admit that you're still effing around and, you know, I'm upset.
but not incredibly shocked to hear that they put money in when you're overdrafting. - Yeah. - You have 30 bucks in your account. We are basically halfway through the year and I need to make sure you guys are saving your money in the right place. In my resources section in the description below, you can sign up for one of the best high yield savings accounts there are, but you can also get $300 for free with qualifying deposits. You can also get FDIC insurance up to $2,000
million dollars on your money and get 4.6% on the money that's just sitting there it's exactly where I put my money why let your money lose money when it could be making money it's the biggest no-brainer in the world open up a SoFi high yield savings account now and get that $300 for free
When did they lend you this money? When I moved. When was that? It was just that one time. When was that? May. Then why did you get $1,000 this last month from them? Well, the reimbursement for one of the gifts. Remember, my mom gave... You said you paid half and that was like $600 or $800. Mm-hmm.
Why did you get $1,000? Well, sometimes I pick up food for them because they're a little older. I pick them up food and they reimburse me. There's like a few transactions on there that aren't mine. I just get reimbursed picking it up for them. Okay. Obviously, the whole thing is a mess. That was very brave, though. That is a first step. I mean, that shows that you're at least willing to do something. And that was hard. That was hard. But you're a bad...
I know he's very confused about this situation and that's okay. We're happy to type up an email if you want some explanation. Like what a kid gets when they're sick from school. Give you a little note.
Well, I mean, I took time off from work. I'm getting paid PTO, so I don't know why. Oh, and reimbursed, so it kind of works. I don't know why they're... Well, okay, for what it's worth. I mean, if I was driving to get something for free, you know, like you're not paying someone for someone to look at your finances in a completely different city, like he doesn't know what's going on. So, like, I get it. I would be like, what the f*** are you doing as well? So I get it because it does sound weird from the outside. Okay, let's do the budget. And on the income side,
$3,200 comes in. Mm-hmm. The debt payments, let's do the debt payments you need to do to not get deferred interest. What's your car situation? My car's paid off. Okay, what is it? It's a 2018 Kia Soul. How is it? It's in good condition. Good. It's like 70,000 miles, not bad. Okay. So what's your rent again? The exact number? $1,550. Utilities all combined? That's electricity, internet, and mobile, right? Yeah.
Yeah. I want to say... I had Wi-Fi 118.30. Is that correct? Yeah, which is crazy. Yeah, what the f*** are you getting? Well, I actually had to call them and get my thing lowered, my service plan, because it was way up there. Yeah, I get a gig for $40. So, yeah, I think it's supposed to go down to $50. I had it recalled and got that fixed. So it will go to $50. I can put it at $50? Yes, yeah. Good, good.
and then i have renters insurance is 76 13 oh yeah i have oh is that a month that has to be the annual no that's i had pet insurance too so it's like combined yes uh i think my uh insurance has saved me thousands and thousands of dollars i have an elderly dog so i definitely need it utilities i got 237.36 cents
You okay? What's going on? Yeah, I'm trying to see what that insurance was. My renter's insurance is $27. Gotcha. I'll just combine them together. Okay. $237 for utilities and $0.36. Okay. How much of room, room, gas, drive, drive? I would say like $80 a month. $94.18 is what we had. $94.18. Wow.
Was it a driving month? Well, sometimes I try to do Uber to pick up some money. Okay, well, we didn't have any Uber coming in, so that wouldn't account for that. Yeah, I don't do it as often. Yeah, I got to put it as 94. What's your car insurance? I don't pay car insurance. My parents, they got that for me. Okay. Again, the independent thing. It's okay. I had no problem with it, but you were bragging in your application how you're independent and on your own. But, okay. Yeah.
TP Fund, anything else you need to survive in life, you break that down in the budgeting program. You figure that out because what we're just trying to do is get like an overhead budget and figure out what we can do. $300 for groceries, perfectly fine. Follow our meal plan. Adjust it for what you need. Medical, co-pays, anything like that. Okay, Jim? I paid an annual subscription, so that's already done. How much? It's like $130. Okay, you'll budget that in. Subscriptions, nope. Nope.
savings nope phone oh uh it's like 60 bucks do you owe anything on the phone was it through yeah i i had to purchase i refinanced my phone through them okay when it's done switch to helium 20 bucks a month uses the t-mobile towers so i promise it's good save that money dude when we're trying to get out of debt anywhere helps um my pets i i yeah how much how much for food um
And other things. How much total for pets besides pet insurance? I would say for their food, it's $80 a month because I got two of them. $80? Mm-hmm. And then my tuition is also... Oh, f*** me. What's that? It's pretty inexpensive. It's $200. A month or... For a month because I'm taking summer courses, but it gets cheaper once I do like a fall, spring semester. Okay.
You actually hit your budget off $7 on the upside. You're over it by $7.55 before the schooling. How much more school do we have left? I'm graduating this December. Yeah.
So what I would actually do is prioritize cash flow in the rest of school by if you can pick up a shift anywhere just to make your budget on the positive side. But tightly, don't spend on fun, free fun. Tell your friends, tell your family. They'll understand and they'll cover you. You're not asking them to, but they will if they want to go do that thing. And they already know that you can't. If not, you know, that's fine. Hang out, parks, stuff like that. Focus on cash flow for the rest of the semester.
And saving up anything on the side as much as you can. One shift. Two shifts at a coffee shop. Your dad's calling you. Yeah. Can he wait 10 minutes? Yeah, I'll tell him. I'll call him back. You can give him a call in between this and the post show. Okay, cool. And...
So I would do that through December and save up as much on the side if you can. If you can save up about $3,200 between then and now while cash flowing school, which is a lot, you know, you're going to have to work a second job every once in a while, just a couple of times a week. That would be great because I could see a one month emergency fund by the time graduation. Then obviously use that degree, leverage it and get a better paying job. Of course, from there, um,
Again, I would not pull out of your retirement right now with the fees and everything. It does not make sense. You're just losing money. You're making your minimum fee payments on everything. And then I would just pay them off small to largest. Just based on your discipline, small to largest makes sense because you'll see those rewards along the way. I don't know what your income will be. Obviously, you're going to shop for the best job. Hopefully, I want to see you get to like $60,000, $70,000, $75,000. We can do that. We can actually start making a big dent in this.
I think you could be on a debt in like two years, get a fully funded emergency fund two and a half years, you know, from December. So they'll call it three years from now. 27. That's not a bad place to start debt free while also having at that point, like $16,000 in retirement. That's okay. I'm okay with that. You're a little behind for the age of retirement at that time. That's okay. Cause you have a compounding, you have it growing and yeah,
From there, you're able to really start piling in, and it's good. You just have to sacrifice for now. Focus on cash flowing for school and saving up $3,200 for a one-month emergency fund. Then get whatever job you want for your degree. Try to shoot for that higher income, obviously. And then just start paying off the debt, small to large. Just get the six-month emergency fund. So that's what I would do. And I think you could do it in like three years-ish, depending on what you get for jobs. You might have to be working second jobs for a while as well. Quick and pay off the debt.
the quicker everything is. You have a lot of justifications. You have a lot of excuses and you've used that to make a lot of bad decisions. That's in your past now. This gets cleaned and you get a good life if you sacrifice now and actually choose to make these next few years really count. If you decide to live the way you've been living, it doesn't matter if you get a higher pay job. It doesn't matter what happens.
You're going to be in debt through your 30s, through your 40s, through your 50s. You're not going to have much of a retirement to your name. And who knows what the social security is going to look like by the time you retire or what that retirement age might even be like. It'll be like mid-80s or something crazy. So that's what I think. We'll walk with you along the way. We're going to get you all the education. You reach out to us as much as you want to for help. You can do follow-ups as many times as you want in person or virtual. It's completely up to you. Okay. So we'll walk with you, but you need to put in the work now.
You need to put in the work and you need a budget and sit down and look at our monthly basis. Hammer Financial Score, you gave yourself a 2 out of 10. You obviously overspent your budget, so it's a 0 out of 10. Debt, no collections, nothing bad. I do...
get a big hit when we're borrowing from family it's really not good it's risky it's just you know it just gets complicated gets messy so i'm gonna bring your debt score to a two out of ten because again it's not like the worst debt in the world that's pretty bad actually one out of ten emergency fund there's nothing zero out of ten retirement because you're not gonna allow that i wonder if they've sold everything though again you sold it okay so you probably can't get out of it
For your age, it's going to be a 210. Real estate, 0 out of 10. Hammer Financial Score. Rounding up, because I don't run down. 1 out of 10. Make sure to check out all the resources linked in the description below as they are what I use or would use in specific situations, including the Best Budgeting Course and Best Investing Course, where you get $100 in cash gift coupons from me to you, thanks to Moo Moo. Now stick around for the post show. I guess my life is about to suck in the post show, so we're going to figure it out.
Check that out in the link in the description below. Today on the Financial Audit Post Show. Red Hot Reaper Chip Challenge, Carolina Reaper, and Trinidad Scorpion. Absolutely. Liquid. On fire. Lava. My heart is like legit beating. Me too. That's okay. That's a good content. Here we go. They're both turning red. Caleb, do you want to talk about the new real estate that you're looking at?
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