Controlling Karen Exploits Cuck Husband | Financial Audit

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Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Speaker 00

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• 0:28Speaker 01

  Para los grandes, para los chicos, para los bajos y los altos, los pacifistas, los valientes. Para los optimistas y los pesimistas, los que valoran lo de adentro. Para los que están lejos, los que no ven de lejos y los que no ven de cerca. Para los introvertidos y los extrovertidos. Para los que piensan y los que hacen. Para los que nos mostraron el camino. Coca-Cola, para todos. Compra una Coca-Cola en una tienda cerca de usted.

• 0:58Caleb Hammer?

  To watch episodes of Financial Audit a week earlier, check us out on YouTube. You're a little domineering, aren't you?

• 1:03Speaker 03

  I don't mean to be. I am controlling though.

• 1:05Caleb Hammer?

  Do you feel like she just like talks for you? Cause I want to hear your thoughts on it, but I feel like she just answers for you.

• 1:11Speaker 04

  I mean, yes, she does.

• 1:12Caleb Hammer?

  Give me your thoughts. I want to hear your answer on this.

• 1:14Speaker 04

  Stocks and crypto I was in.

• 1:15Speaker 03

  You should, you should ask him what he had invested in.

• 1:17Speaker 04

  And start my family members more.

• 1:18Caleb Hammer?

  No. You're such a controlling bitch.

• 1:21Speaker 03

  Hi, my name is Alyssa and I'm 40 years old.

• 1:24Speaker 04

  Hi, my name is Connor and I'm 32 years old and we live in Fort Worth, Texas.

• 1:28Speaker 03

  And this is Financial Audit.

• 1:30Caleb Hammer?

  Welcome down to Austin. So let's start with you, Alyssa. What do you do for a living in Fort Worth, Texas?

• 1:37Speaker 03

  I am a registered nurse. I've been a nurse for 20 years.

• 1:40Caleb Hammer?

  Great. Good income there sometimes, depending.

• 1:43Speaker 03

  It's very good income. And then I am a trauma program manager currently.

• 1:47Caleb Hammer?

  Oh, double job?

• 1:48Speaker 03

  So no, I upgraded from bedside nursing to management in 2022.

• 1:52Caleb Hammer?

  Oh, cool. Well, so what do you make?

• 1:54Speaker 03

  Um, I make 111,000 a year.

• 1:56Caleb Hammer?

  Beautiful, gorgeous. That's awesome. We love to see that. What do you make, Connor?

• 2:02Speaker 04

  I am in construction. I make $25 an hour.

• 2:06Caleb Hammer?

  Okay.

• 2:07Speaker 04

  Forty. Hours a week.

• 2:09Caleb Hammer?

  Uh huh.

• 2:09Speaker 04

  Comes out to about four thousand a month.

• 2:11Caleb Hammer?

  Mm hmm. And is that paid time off and everything?

• 2:13Speaker 04

  No paid time off.

• 2:15Caleb Hammer?

  Oh, how much time do you take off usually?

• 2:17Speaker 04

  I.

• 2:19Caleb Hammer?

  Two weeks a year?

• 2:20Speaker 04

  Hmm, yeah, yeah.

• 2:23Caleb Hammer?

  So looking at probably like fifty thousand dollars a year?

• 2:25Speaker 04

  Mm hmm.

• 2:26Caleb Hammer?

  Okay, very good. So hundred and uh, hundred sixty one thousand. How we living? How we doing? How's four worth eleven? Hundred sixty one thousand?

• 2:39Speaker 03

  We're we we make enough to live well.

• 2:41Caleb Hammer?

  Uh huh.

• 2:42Speaker 03

  We just made some bad decisions.

• 2:44Caleb Hammer?

  Well, sure.

• 2:47Caleb Hammer?

  Okay.

• 2:47Speaker 04

  The spending gets a little up there sometimes.

• 2:50Caleb Hammer?

  Well, up there, we have an up there income. Maybe spending is a lot to be up there, potentially based on certain situations.

• 2:56Speaker 04

  Right.

• 2:56Speaker 03

  That wasn't always our income. So he's just now consistently working and making that kind of money.

• 3:01Speaker 04

  Right.

• 3:01Speaker 03

  Probably in just this year.

• 3:03Caleb Hammer?

  Okay, well, that's well, I'm. That would help us then.

• 3:07Speaker 03

  Yeah.

• 3:07Speaker 04

  Yes.

• 3:08Speaker 03

  Yeah, so before that, in like last year, twenty twenty three, he didn't make, he made like twenty thousand dollars.

• 3:15Caleb Hammer?

  Okay, but I mean, you're clearly the income, you know, owner of the home, bringing that in, which is awesome. Um, I guess it depends on what our spending is, whether or not that's a problem, right? Because if we're going absolutely insane, taking crazy vacations or something, then sure, that's but well, how long have you guys been together? Married?

• 3:34Speaker 03

  We got married in two thousand eighteen and we've been together since.

• 3:37Caleb Hammer?

  Very good.

• 3:37Speaker 03

  Two thousand sixteen.

• 3:39Caleb Hammer?

  Very good, very good. Okay, cool. So. What is going on then? What do we have here? Because for we make us on kind of mid, but I have a really big stack. What is going on?

• 3:56Speaker 04

  Um, it's just. Debt that's piled up.

• 4:00Caleb Hammer?

  Why would debt be piling up with such a strong household income? What kind of debt?

• 4:04Speaker 04

  Uh, a lot of credit card debt.

• 4:06Caleb Hammer?

  Why? Why would be being a credit card debt?

• 4:08Speaker 03

  So.

• 4:09Caleb Hammer?

  What's happening?

• 4:09Speaker 04

  Prior to me, prior to this year, I wasn't, I wasn't really earning much at all.

• 4:14Caleb Hammer?

  Yeah, you brought in thirty thousand dollars more, but you guys are making, uh, you know, at least a hundred twenty thousand dollars, a hundred thirty thousand, a hundred forty thousand dollars a year. As a household, so why are we in credit card debt? Even Fort Worth, not one of the most expensive cities in the United States.

• 4:27Speaker 03

  So in, um, twenty twenty-two, I took a salary job from ER nursing.

• 4:33Caleb Hammer?

  Okay.

• 4:33Speaker 03

  Um, I was at the top of my pay for ER nursing. I wasn't gonna get any higher. Um, I would pick up one extra shift a week, um, so he could be a stay-at-home dad. So he's, he was a stay-at-home dad up until then.

• 4:44Caleb Hammer?

  Oh, kids. Uh, what do we have? Ages?

• 4:46Speaker 03

  Uh, so our youngest is four and our oldest is fourteen, or four, ten years apart.

• 4:51Caleb Hammer?

  All right.

• 4:52Speaker 03

  And, um, we made one thirty for like a year, probably one thirty, one forty a year.

• 4:59Caleb Hammer?

  Okay.

• 5:00Speaker 03

  The last like five years.

• 5:01Caleb Hammer?

  This is not answering my question. Why are we in credit card debt?

• 5:04Speaker 03

  Uh, when I took this job, we had just taken a vacation to, um, California for like a month long.

• 5:09Caleb Hammer?

  What, two years ago?

• 5:11Speaker 03

  Yeah.

• 5:11Caleb Hammer?

  A month-long vacation. That's a long vacation.

• 5:13Speaker 03

  We spent like twenty thousand dollars.

• 5:15Caleb Hammer?

  On a vacation?

• 5:16Speaker 03

  Yeah, I know. It was, it was.

• 5:17Caleb Hammer?

  You guys are acting like you're like multimillionaires, twenty thousand dollars of vacation. I couldn't even imagine twenty thousand dollars on vacation.

• 5:22Speaker 03

  Very.

• 5:23Caleb Hammer?

  Could hardly imagine two thousand dollars on vacation.

• 5:25Speaker 03

  And so.

• 5:26Caleb Hammer?

  How do you spend twenty thousand dollars on a vacation? What do you do twenty thousand?

• 5:29Speaker 03

  It's whenever you take your family with you and.

• 5:31Caleb Hammer?

  What family? Everyone? Everyone in the world? The whole extended?

• 5:35Speaker 03

  Uh, we took our, my, my brother-in-law, so his brother, and then we took my.

• 5:39Caleb Hammer?

  Well, is he not a big boy? He can't pay for himself?

• 5:41Speaker 03

  He wasn't working at the time.

• 5:42Speaker 04

  Yeah, he was.

• 5:43Caleb Hammer?

  Maybe he doesn't get to go on a vacation then.

• 5:45Speaker 03

  Probably would have been a smart decision. Um, and then.

• 5:48Caleb Hammer?

  Are you saying all the credit card debt I have is because he went on a stupid vacation?

• 5:51Speaker 03

  No, no, no.

• 5:51Caleb Hammer?

  Okay, then why it happened? Why do we have debt?

• 5:54Speaker 03

  So when we got back, I accepted this job and I got nervous that I was, what my income was gonna look like, cause I, at first I was supposed to take a pay cut hourly, but I actually never did. But I can't, I used to be able to increase my income by working extra shifts. I could pick up a shift and make.

• 6:08Caleb Hammer?

  It shouldn't be an issue. Your income is good.

• 6:11Speaker 03

  Yeah.

• 6:11Caleb Hammer?

  I am asking, guys, I will try to get back to this. I will try to get back to this. It's not about how, oh, but well, we can't make two hundred thousand dollars here. That's our own debt. Why do we have credit card debt, living in Fort Worth, Texas, earning over six figures as a household, over the median household income in Fort Worth, Texas?

• 6:25Speaker 03

  So.

• 6:26Caleb Hammer?

  Why? What am I looking at here? What is happening?

• 6:29Speaker 03

  We, uh, made minimum payments instead of statement balance, like what I normally did. Cause I just got nervous and then.

• 6:36Caleb Hammer?

  Nervous? Nervous about what?

• 6:37Speaker 03

  Just about how much I was gonna.

• 6:38Caleb Hammer?

  Nervous about not having to pay interest?

• 6:40Speaker 03

  No, yeah, exactly. I should have. I did everything wrong and I knew what I was doing was wrong. And then we didn't change our habits. Like, we were living that inflated lifestyle and we didn't change the amount of money we spent.

• 6:51Caleb Hammer?

  Okay, so it's.

• 6:51Speaker 03

  And so, and he didn't really work in twenty twenty-three. He made like twenty grand, so it didn't.

• 6:56Caleb Hammer?

  No offense to Mr. Dude. It's not the biggest contribution to the household. I don't think that's the big problem. Even just on you alone, you make over the median household income.

• 7:06Speaker 03

  Yeah, I know.

• 7:06Caleb Hammer?

  Yeah, I'd say it's in Fort Worth.

• 7:07Speaker 03

  It, it's, we just didn't change our habits. We didn't change our lifestyle and.

• 7:11Caleb Hammer?

  Gosh, I wanna see these habits, then, dude. You're really leaning on the habits and the spending. So, obviously, they must be beyond horrendous. Cool. So, how much came in, do we think? How much came in? What do we think?

• 7:21Speaker 03

  We bring anywhere from eleven thousand to thirteen thousand.

• 7:24Caleb Hammer?

  Okay, ten thousand nine hundred hit the account and some of it was a Ticketmaster refund. So, uh, what are we talking about? So, only about ten thousand dollars would have hit with mobile deposits and payroll.

• 7:34Speaker 03

  There's, yeah, we got paid again the day after I sent those. But, yeah, we, it's, it's.

• 7:38Caleb Hammer?

  Well, after you sent, these are monthly statement, though.

• 7:41Speaker 04

  It could be about ten thousand a month.

• 7:42Speaker 03

  About ten thousand.

• 7:43Speaker 04

  If I'm making my minimum four thousand, you're making about six thousand.

• 7:46Speaker 03

  Some of my income goes into a different account to pay for taxes, cause he's ten ninety-nine.

• 7:50Caleb Hammer?

  Do I not have the account?

• 7:51Speaker 03

  Oh, you have that account.

• 7:52Caleb Hammer?

  So, it would be accounted for.

• 7:53Speaker 03

  It's just, it comes out, it doesn't go into that account at all.

• 7:56Caleb Hammer?

  We would have it accounted for. This is across all your accounts.

• 7:58Speaker 03

  Oh.

• 7:58Caleb Hammer?

  This is my magical little spreadsheets that have all accounts baked into one.

• 8:02Speaker 03

  Yeah, I make twenty-nine, um, in my Regent's account. It's twenty-nine biweekly and he brings home about a thousand weekly. And then the other account, I deposit three fifty in it every biweekly.

• 8:16Caleb Hammer?

  You know, that's, that adds up to ten thousand, right? Am I doing that math wrong?

• 8:20Speaker 03

  No, I might be.

• 8:21Caleb Hammer?

  What, three thousand twice and then a thousand?

• 8:25Caleb Hammer?

  Four times.

• 8:26Speaker 04

  And then the seven hundred that goes into the so far.

• 8:29Caleb Hammer?

  I'm do- yeah, but from what from what we already made.

• 8:33Speaker 03

  I know, like I have it, I have it, I have it direct deposited separately. So that way they don't ever.

• 8:37Caleb Hammer?

  Okay, I'm gonna say ten thousand five hundred hits the account.

• 8:39Speaker 03

  Yeah, that's fine.

• 8:40Caleb Hammer?

  Okay, cool. How much was spent?

• 8:43Speaker 03

  Uh, we, we, I think, spent ten thousand five hundred, maybe ten thousand six hundred.

• 8:49Caleb Hammer?

  What do you think?

• 8:50Speaker 04

  Uh, eleven thousand?

• 8:53Caleb Hammer?

  Closer. Eleven thousand one hundred eighty-four dollars. When again,

• 8:59Caleb Hammer?

  just a reminder, ten thousand came in, so you know, taking into account the refund.

• 9:03Speaker 04

  Yeah.

• 9:07Caleb Hammer?

  Why?

• 9:10Caleb Hammer?

  Why are we spending a thousand dollars and one hundred dollars more than we bring in? Why?

• 9:17Speaker 04

  Cause of the.

• 9:18Caleb Hammer?

  Where does it go? Do we know?

• 9:19Speaker 03

  Well, we did make extra payments on some things, but um, I also know that we did not, we ate out a few times that we shouldn't have as well.

• 9:27Caleb Hammer?

  A few times, a few times would.

• 9:30Speaker 03

  More than three, so I guess a few is not the right answer.

• 9:33Caleb Hammer?

  To uh, spending a thousand one hundred fifty dollars more than we make on a monthly basis?

• 9:38Speaker 03

  Mm-mm.

• 9:41Caleb Hammer?

  Do we know the issue?

• 9:42Speaker 03

  I mean, I.

• 9:43Caleb Hammer?

  Do we have any insights into our own finances? Do we sit down? Do we talk? Do we understand?

• 9:46Speaker 03

  Yeah.

• 9:47Caleb Hammer?

  Do we know what the household looks like? Who looks at the finances? Do we both look at the finances? Do we talk about the finances? What does this look like? What does the household look like financially?

• 9:54Speaker 03

  Until recently, it was me, but we've been doing it together um, since about April and May.

• 10:00Caleb Hammer?

  Okay.

• 10:01Speaker 04

  Yeah.

• 10:02Caleb Hammer?

  But you both gave me wrong numbers. He was closer. We look at them together. Do we look at them? We had no- we had wrong numbers.

• 10:09Speaker 04

  We sometimes look at them. She looks at them more often.

• 10:12Speaker 03

  And I look at the month like from the first to the thirtieth usually. So like I'll, I add, I add what we spend on a spreadsheet. So I, I, when I was printing those out, like I don't know which days it stopped and started on, so.

• 10:25Caleb Hammer?

  It's a statement balance. This is, this is a full month.

• 10:27Speaker 03

  Yeah.

• 10:27Caleb Hammer?

  How do you guys budget, if at all? Do you guys budget if at all?

• 10:36Speaker 03

  We definitely try.

• 10:37Caleb Hammer?

  You said you look at a spreadsheet.

• 10:39Speaker 03

  We spend a lot of money on groceries that we shouldn't spend. Like our grocery budget is out of control.

• 10:45Caleb Hammer?

  Why?

• 10:46Speaker 03

  I don't know.

• 10:46Caleb Hammer?

  It's my favorite. Questions.

• 10:48Speaker 03

  I don't know, I even started going to ATB instead of Costco, just to make sure I wasn't spending money on things that weren't groceries, but.

• 10:54Caleb Hammer?

  I had three hundred eighty two dollars on groceries.

• 10:57Speaker 03

  Um, that's not.

• 10:59Caleb Hammer?

  Though, actually, for what it's worth, we have unknown shopping category, unknown shopping category can be Target, can be Walmart, can be Amazon.

• 11:06Speaker 03

  Yeah, usually there are groceries. Nah.

• 11:08Caleb Hammer?

  Where do you grocery shop from?

• 11:09Speaker 03

  Uh, Costco and ATB, and then there's like three things we buy on Amazon.

• 11:13Caleb Hammer?

  Okay, we do have separate Costco, we put that uh in a separate category just to be safe, because you never know, you could walk in there and get a piece of furniture.

• 11:20Speaker 03

  We don't do that, but yeah.

• 11:22Caleb Hammer?

  It's a little different.

• 11:23Speaker 03

  Yeah.

• 11:24Caleb Hammer?

  Why are we buying so much food? Okay, yeah, we got two kids, one's in the teenage phase, eat everything in the world, okay. So, what are we trying to do?

• 11:33Speaker 04

  Yeah, we kind of just wing our groceries and try to do our best.

• 11:39Speaker 03

  Groceries have been a big issue.

• 11:40Caleb Hammer?

  Okay, can you guys just tell me, how does it actually look when you guys sit down and go over your finances? You guys go down, do you guys go over every purchase, what we spend in each category? You do. Then why do we have a different number in terms of what you guys are spending? And why do you guys not know that you guys are spending more than you come in? I'm confused, that's not possible.

• 11:57Speaker 04

  Because you went to a concert this last month and.

• 12:01Caleb Hammer?

  Well, then you would have known that, you would have said that, because you go over to the finances together.

• 12:05Speaker 03

  Yeah, I know, and I.

• 12:06Caleb Hammer?

  The concert was a thousand one hundred fifty dollars? Hmm, okay.

• 12:10Speaker 03

  The concert itself was free, it was the things that went in.

• 12:14Caleb Hammer?

  Cost?

• 12:15Speaker 03

  To go to a concert. For the concert?

• 12:17Caleb Hammer?

  Uh huh.

• 12:18Speaker 03

  The concert was free, I was on the guest.

• 12:19Caleb Hammer?

  The cost of everything else?

• 12:21Speaker 03

  Oh, uh, for the concert, I got my daughter a T-shirt there for forty five dollars.

• 12:24Caleb Hammer?

  I don't think that led us to a thousand five.

• 12:26Speaker 03

  No, it did not.

• 12:27Caleb Hammer?

  Okay, go ahead, what else?

• 12:28Speaker 03

  And then, um, we had parking and charges for like the gas, not gas, but the electric charges to get there, and then, um, I spent like thirty dollars on Target, and then we did go get our daughter some clothes.

• 12:41Speaker 04

  Yeah, I'm, I'm not sure why the math is not.

• 12:43Speaker 03

  We paid a thousand dollars on our credit card this last month, though, so I think that might be.

• 12:47Caleb Hammer?

  Doesn't matter if you go ahead and purchase more.

• 12:50Speaker 03

  True.

• 12:51Caleb Hammer?

  What's that just spending?

• 12:54Caleb Hammer?

  Also, that doesn't go towards spending, does it Jake? A payment on a credit card?

• 12:59Caleb Hammer?

  If there's no other transactions.

• 13:02Caleb Hammer?

  So we do the mathematical offset of charges versus putting on a card.

• 13:06Speaker 04

  I thought we would be slightly in the positive.

• 13:09Speaker 03

  Yeah, I thought we were too, but I also like, I don't, yeah, I thought we were in the positive.

• 13:13Speaker 04

  Because we got those refunds from Ticketmaster.

• 13:17Caleb Hammer?

  All right, I want to know self assessed. Where do you guys think your household is? I'm gonna go three, two, one, go. On go, I want a score zero to 10, zero being the absolute worst finances possible, 10 being the absolute best finances possible. Where do we think we are as a household? Three, two, one.

• 13:37Speaker 04

  Three.

• 13:38Speaker 03

  Two.

• 13:39Caleb Hammer?

  Okay, you didn't say it at the same time. I didn't follow instructions, but it's okay. Um, you think you're a little below average, you think you're a little lower. Okay, if you guys want your Hammer Financial Score, it is free. Link in the description below. And if you want to come on the show, go to CalebHammer.com/apply. We'd be happy to have you on. Couple and single, anyone and everyone. Just go ahead and give us a nice little, nice little thing. All right.

• 14:02Speaker 03

  A nice stack.

• 14:03Caleb Hammer?

  All right, we're gonna start with the Financial Out of Classic because apparently, uh, what the? Why are we not paying taxes? Why does no one pay taxes? I'm so confused. This, I don't get it. I will never understand it. Why? Why is 2023, 2022 is good, and then 2021?

• 14:20Speaker 03

  So 2021, um, was actually only 5,000. There's some fees from like, not from interest, right?

• 14:25Caleb Hammer?

  That's what happens.

• 14:27Speaker 03

  That's the year that they were, I made a lot of money and put us over a tax bracket. And I hadn't adjusted the amount I claimed and I didn't, I just made a payment plan because I wasn't being smart.

• 14:38Caleb Hammer?

  What?

• 14:39Speaker 03

  I just did a payment plan instead of paying it off.

• 14:41Caleb Hammer?

  Why?

• 14:42Speaker 03

  I don't know. I should have paid it off.

• 14:43Caleb Hammer?

  It's not an answer. I don't know. Why? Why'd you choose it?

• 14:46Speaker 03

  Cause.

• 14:47Caleb Hammer?

  I don't know. Is that an answer? We are not gonna get places on that. You're not gonna know.

• 14:49Speaker 03

  In 2021, I don't, I haven't, I think I was, you know, I'm the only one working and it's a huge chunk.

• 14:54Caleb Hammer?

  2021 taxes, you did this in 2022. So as many of you know, I've been a big supporter of Course Careers for a long time. I'm not just a partner. I actually own stock and I'm an investor. So why did I partner with Course Careers? Because I truly believe in what they're. Doing. A lot of people have questions about online certifications versus traditional college degrees. Let me be clear, I wouldn't put my name behind something unless I knew it worked. The thing is, not everyone has the time or resources to spend four years in college for take on massive student loan debt. Course Careers offers a practical, affordable way to launch a career in a high demand field like tech sales, IT, and accounting, where companies are hiring based on the skills needed, not broad college degrees.

• 15:35Caleb Hammer?

  In fact, right now, one in three companies are dropping degree requirements, and that number is only going to continue to grow. I know some people think online programs are a quick fix, but that's not the case here. Course Careers takes effort and commitment, but they provide you with a streamlined, proven path. They offer up-to-date, self-paced courses, one-on-one or group coaching from people that work in the industry, and most importantly, they help you actually get hired. Just look at graduates like Namso, who went from driving FedEx trucks to a cybersecurity job at Disney. That didn't happen by chance. He put in the work and Course Careers guided him every step of the way. And what truly sets Course Careers apart is that it's not just about learning skills, but landing a job. Their curriculum is designed based on what employers actually need,

• 16:20Caleb Hammer?

  and their network of industry coaches will guide you through the entire process, from learning the skills to interviewing, resume help, and beyond. So if you're serious about starting a new career without wasting years or piling up debt, give Course Careers a try. Start with their free intro course, linked in the description to explore your options. And when you're ready, use the link in the description for fifty dollars off the full course. Your future starts right now, and Course Careers is here to help you shape it.

• 16:45Speaker 03

  So in 2022, we didn't know any taxes, and then in 2023-

• 16:48Caleb Hammer?

  No, no, no, no, no, no, no, in the year 2022, would have been for 2021's taxes. So this would have happened in year 2022. You don't pay 2021's taxes in 2021 unless you're paying quarterly or something.

• 16:59Speaker 03

  No, you don't, no. I just did the payment plan, because I didn't-

• 17:02Caleb Hammer?

  What's your monthly payment?

• 17:04Speaker 03

  Um, it's like one ninety-eight is what we-

• 17:06Caleb Hammer?

  That's horrendous. It's gonna take forever. What's, is there interest on it?

• 17:10Speaker 03

  I, when I called them, they said it was gonna be below eight percent, but probably seven point nine.

• 17:16Caleb Hammer?

  Yeah, that's below eight, I guess. So you're not really keeping up with the stock market if it's averaging like eight percent a year, up years and down years combined. So why wouldn't we just pay that? Because then we want to be able to retire at some point as well. You're just losing out.

• 17:32Caleb Hammer?

  Okay, then what happened in twenty twenty three? Cause if I remember right at the beginning of the conversation, you said, I put money aside for taxes so that I can pay for his taxes.

• 17:38Speaker 03

  Cause in twenty twenty three, we did our taxes.

• 17:41Caleb Hammer?

  Last year.

• 17:42Speaker 03

  Yes, we did our taxes in March of this year.

• 17:43Caleb Hammer?

  Uh huh.

• 17:44Speaker 03

  And um, he is a ten ninety nine employee.

• 17:47Caleb Hammer?

  Sure.

• 17:47Speaker 03

  And he didn't, we didn't put anything back for his taxes. And.

• 17:51Caleb Hammer?

  Did you not get the forms from your employers necessary? Or the people that hired you contractually?

• 17:56Speaker 04

  Uh, I got the, the ten ninety nine form.

• 17:58Caleb Hammer?

  Yeah. Did you get what was necessary?

• 18:01Speaker 03

  Even more so in twenty twenty three, we couldn't even do our taxes and had to do an extension because I did, they didn't give us.

• 18:06Caleb Hammer?

  Okay.

• 18:07Speaker 03

  Well, they didn't give us his ten ninety nine until like June. It kept getting lost in the mail. And so we didn't even.

• 18:16Caleb Hammer?

  Okay, but why do we owe?

• 18:17Speaker 03

  So we owe because we didn't save for his taxes and.

• 18:20Caleb Hammer?

  Why? That's different. You already knew taxes were coming.

• 18:22Speaker 03

  I know.

• 18:23Caleb Hammer?

  You. In March.

• 18:25Speaker 03

  So we also were paying childcare and he wasn't making enough and we were.

• 18:29Caleb Hammer?

  I don't give a shit. You knew that taxes were coming and you guys can afford childcare, by the way.

• 18:33Speaker 03

  Yeah, he, we weren't being smart with our finances.

• 18:36Caleb Hammer?

  That's not an answer.

• 18:37Speaker 03

  I don't, we did not save. We weren't communicating with finances either. We didn't sit down with each other. Like I was still handling it by myself. But then we did not. In twenty twenty three, it was still all me. And at one point I was done. I was like, here, I need you to take over this because I can't make my income any more than it is. And I need you to see where we're at because we're not making enough money to pay off the debt.

• 18:58Caleb Hammer?

  We're not even close to being able to be prepared for retirement, especially you. You're like a.

• 19:03Speaker 03

  I know.

• 19:03Caleb Hammer?

  I mean, you're a decade away from being able to take it out, uh, two decades away from being able to take it out, uh, without any penalties and you're, uh, three decades out essentially. We're not even close to being able to take advantage of any kind of retirement, which means that your kids, your kids, they're gonna feel morally responsible to take care of you when they see mommy and daddy not being able to pay bills. Cause mommy and daddy do not have money and who knows what social security will look like at that point.

• 19:29Speaker 03

  And my mom is a financial advisor, so I

• 19:32Caleb Hammer?

  Well, then why not? Why not ask her?

• 19:34Speaker 03

  Frustrate.

• 19:35Caleb Hammer?

  But does she not know? You do not talk to mommy, financial advisor mommy?

• 19:38Speaker 03

  So she doesn't give advice to family members? She's retired from that, but also like

• 19:42Caleb Hammer?

  Fair enough, I guess.

• 19:43Speaker 03

  She would be so disappointed.

• 19:46Caleb Hammer?

  She may not give like, here, buy this stock, buy this stock, but she would probably tell you like, hey, maybe don't have this debt, right?

• 19:52Speaker 03

  Yeah.

• 19:53Caleb Hammer?

  She would she be willing to do that?

• 19:55Speaker 03

  Yeah, I know. We've talked a little bit. Last time I saw her, I did tell her like, we have like, a lot of credit card debt that we're working on getting out of, but she

• 20:02Caleb Hammer?

  Put IRS and

• 20:03Speaker 03

  So, oh, gosh.

• 20:05Caleb Hammer?

  She doesn't know?

• 20:06Speaker 03

  She didn't know about the IRS debt.

• 20:07Caleb Hammer?

  Why would she lean on her knowledge? I don't get it. I guess she doesn't want to give like, full investment advice and stuff like that, but what's wrong with leaning on knowledge?

• 20:14Speaker 03

  I don't know, I just, I didn't want to disappoint my mom.

• 20:18Caleb Hammer?

  Okay, well, you are.

• 20:19Speaker 03

  Exactly. I know a lot of stuff that you say, like, I'm like, yeah, my mom would say that too, but it's different.

• 20:25Caleb Hammer?

  But you're making it worse.

• 20:26Speaker 03

  I know.

• 20:27Caleb Hammer?

  You'll two years of taxes, dude.

• 20:28Speaker 03

  Yeah. I would like to get them paid off this year if we can. Like, that's my, one of my goals is to have them paid off before the end of 25.

• 20:36Caleb Hammer?

  Are we in alignment? I know you guys look at money. Are we in alignment with the spending of the household? Where money is going, paying off debt, retirement? Maybe we know what happens in the past months, obviously not because you

• 20:48Speaker 00

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• 21:17Caleb Hammer?

  Let's give wrong answers, but okay, we pretend we do. Do you guys are you guys aligned on goals and understanding of what we want to do?

• 21:25Speaker 03

  I think so.

• 21:26Caleb Hammer?

  Rare for a couple on the show. Tell me what those goals are.

• 21:29Speaker 04

  We want to get out of all of our bad debt.

• 21:32Caleb Hammer?

  Uh huh.

• 21:32Speaker 04

  All the credit cards, the taxes in the car. And then we want to start.

• 21:38Speaker 03

  I want to start saving so I can catch back up on my 401k to emergency fund.

• 21:43Speaker 04

  Investing more into our retirement.

• 21:46Speaker 03

  Like we want all those things together. We just want to make sure we can get there. Like we, because we want to do other things eventually one day. Like we want to be able to take our kids to on trips. We're gonna do that if we are in debt.

• 21:58Caleb Hammer?

  No, because we chose not to pay taxes. Cause I bet you could have paid taxes for last year. If throughout this year, you weren't just spending all your money on bullshit. Hey, I bet the 2021 taxes that we would have had to pay in 22 and 22.

• 22:11Speaker 03

  Pretty sure it has.

• 22:11Caleb Hammer?

  If we didn't take a $20,000 vacation.

• 22:14Speaker 03

  Probably. And I probably had that money. That's probably why, that's probably exactly why I didn't pay them. Cause I knew we were going on that trip in June. Cause we did it in April. That that tracks. So, yeah, yeah. I just, I don't know. Like I, I kept thinking like I can work more and pay this off. So let's just do a payment plan. That's what I've always done my whole life.

• 22:34Caleb Hammer?

  2023 is on a payment plan?

• 22:36Speaker 03

  So 2021 is on, yeah, they're both on payment.

• 22:38Caleb Hammer?

  What's the minimum payment for?

• 22:40Speaker 03

  So together it's 198 for both of them.

• 22:42Caleb Hammer?

  198 for both. That's going to take eternity. And then there's, and then there's nine percent interest on that. Eight, eight, eight.

• 22:48Speaker 03

  Yeah.

• 22:49Caleb Hammer?

  That's going to take forever.

• 22:51Speaker 03

  Oh, just wait. There's more.

• 22:53Caleb Hammer?

  Oh, I know there's more, but I'm talking about the taxes.

• 22:56Speaker 03

  Yeah.

• 22:57Speaker 04

  Yeah, I don't know if, like, I feel like we're kind of wanting to prioritize the

• 23:02Speaker 03

  The credit cards first.

• 23:04Caleb Hammer?

  While keeping the

• 23:06Speaker 03

  The sad part of 2021 is that we had the money in 2021.

• 23:10Caleb Hammer?

  I know, but if something goes wrong and you can't go on an emergency fund, they're going to garnish wages. Like things get quick.

• 23:15Speaker 03

  Yeah.

• 23:15Caleb Hammer?

  They have a lot more power. So there's a little more risk added, even if the interest rate is lower.

• 23:20Speaker 03

  Yeah, so we had, and when we did taxes in two thousand and twenty two, like I could have paid our taxes that I had the money in our account. In two thousand and twenty three, we have, we're already like a sinking ship. When that, when we did our taxes for two thousand and twenty three, like this was in, and we hadn't saved the year before. And I felt like we were drowning. Um, and that's kind of like our rock bottom when we did taxes in March of this year. That was like our rock bottom.

• 23:43Caleb Hammer?

  But I'm still concerned about the retirement. What does retirement like looked like? How have you been doing retirement? When you started working and everything?

• 23:50Speaker 04

  I haven't.

• 23:51Speaker 03

  He had this great idea of doing Robinhood.

• 23:54Caleb Hammer?

  Okay, what were you doing on Robinhood?

• 23:58Speaker 03

  When he started, when he started working in two thousand and twenty three.

• 24:02Speaker 04

  A year ago, okay.

• 24:03Speaker 03

  Well, he put his money, he opened up his own account separate from mine. And then, because this was money that he was supposed to be making to make up for what I lost when, by not being able to work that one extra day a week. And so he put his money in a separate account and then he would put most of it in Robinhood and then pay his mom for childcare. And then by the time he was done with that, there was nothing left.

• 24:26Speaker 04

  Yes.

• 24:26Caleb Hammer?

  What are you paying your mom to take care of the kid?

• 24:28Speaker 04

  We used to, not anymore. Now she's in.

• 24:32Caleb Hammer?

  How much, oh, yeah, so the paycheck would come in and how would you just, most of it would go into Robinhood?

• 24:37Speaker 03

  Oh, he, he would, he would buy groceries because he wouldn't put it in our main account and then he would pay his mom and then he would do Robinhood and it was really nothing left.

• 24:43Caleb Hammer?

  How much would go into Robinhood?

• 24:44Speaker 04

  Uh, it was just sporadic. Um, over the course of a year, I might have put in five thousand.

• 24:52Speaker 03

  Or more. You made twenty thousand.

• 24:54Caleb Hammer?

  She seems to disagree.

• 24:56Speaker 03

  Twenty, twenty-five percent of his income went to that and then the other like fifty percent went to your mom.

• 24:59Caleb Hammer?

  What would you, what were you doing in Robinhood? Does this exist?

• 25:02Speaker 03

  No, it's.

• 25:02Caleb Hammer?

  So I don't have a statement for Robinhood. What happened?

• 25:05Speaker 03

  Oh, he lost money.

• 25:06Caleb Hammer?

  Why? What were you doing?

• 25:08Speaker 04

  I was just slowly investing it and then one day I lost all my discipline and pulled it all out.

• 25:18Speaker 04

  Of the stocks and crypto I was in, I pulled it all out and started.

• 25:22Caleb Hammer?

  That's what I'm trying to understand. What, what was in this account?

• 25:25Speaker 04

  It doesn't even matter what I was invested in. I pulled it all out and I started with options. Made some money and then blew it all up.

• 25:34Caleb Hammer?

  Oh, for fuck's sake.

• 25:36Speaker 04

  Yeah.

• 25:36Speaker 03

  I called my mom and she's like, that's basically gambling. I'm like, I know.

• 25:41Speaker 04

  So that was probably March this year.

• 25:42Speaker 03

  And he wasn't working.

• 25:43Caleb Hammer?

  March this year? This was just now?

• 25:47Speaker 03

  He pulled it out in March. Done with it in March.

• 25:50Caleb Hammer?

  Well, how much were you able to pull out?

• 25:51Speaker 03

  Nothing, because it was like, what?

• 25:53Speaker 04

  No, I meant, like, I sold all the, the assets and with the cash in the account, I started buying options. And doing that.

• 26:01Speaker 03

  Then when he knows options.

• 26:02Caleb Hammer?

  How much money did you lose?

• 26:03Speaker 04

  Well, I started with five thousand, got up to seven thousand and then lost the seven thousand.

• 26:08Speaker 03

  Mm hmm. Like, he might want nothing.

• 26:09Caleb Hammer?

  What is wrong with low and slow and just getting to a point where our family is able to live? Why'd you want to get all fancy dancy with some options?

• 26:17Speaker 04

  Yeah, I don't know. Um, we're kind of doing the low and slow with her account.

• 26:21Caleb Hammer?

  Yeah, this happened this year, so that brings me concern. If this was five years ago, I'd be like, okay, we moved beyond. I have no confidence that you're not going to back to that. Why'd you do it and why'd you stop? Well, because you lost all your money. Why'd you do it?

• 26:33Speaker 04

  Yeah.

• 26:34Caleb Hammer?

  How about that?

• 26:34Speaker 04

  I, I wanted a quicker way to pay down some credit card debt.

• 26:38Caleb Hammer?

  It don't work like that, buddy.

• 26:39Speaker 04

  Yeah.

• 26:40Caleb Hammer?

  Quick, fast, usually not the way, shortcuts, I mean, specifically.

• 26:46Speaker 04

  Yeah.

• 26:46Caleb Hammer?

  That doesn't get us there. That gets us to where we lose five thousand dollars.

• 26:51Speaker 03

  And so you only make twenty and you've lost five and then you've paid your mom.

• 26:56Speaker 04

  I was paying my mom too much at the time.

• 26:59Caleb Hammer?

  Too much? What, what do you mean? What am I talking about? What are we hearing?

• 27:02Speaker 04

  It was probably a regular, um, childcare amount that you would pay someone.

• 27:07Caleb Hammer?

  Is it what she requested?

• 27:09Speaker 04

  No, it was just I kind of offered.

• 27:11Caleb Hammer?

  Why? For why? I mean, there's nothing wrong with that as like a concept of, okay, I have a good heart and you know, maybe this is what I'm about to do. But you got a good debt and if she wasn't asking for it, then what are we doing?

• 27:22Speaker 03

  I mean, I brought it up a few times and I'm like, hey, like your brother needs to pay rent. He lived with us at the time too and he didn't pay rent. Like, your brother needs to pay rent and we need to ask your mom to babysit for free.

• 27:31Caleb Hammer?

  You talk for him a lot.

• 27:32Speaker 03

  I know, I'm sorry. I'm used to it.

• 27:34Caleb Hammer?

  Well, do you feel, do you feel like she just like talks for you? Because I, I want to hear your thoughts on it, but I feel like she just answers for you.

• 27:41Speaker 04

  I mean, yes, she does.

• 27:42Caleb Hammer?

  Give me your thoughts. I want to hear your answer on this.

• 27:45Speaker 04

  Uh, sorry, what was the question?

• 27:47Speaker 03

  See?

• 27:49Caleb Hammer?

  Okay.

• 27:50Speaker 04

  Okay.

• 27:51Caleb Hammer?

  All right.

• 27:51Speaker 04

  Yeah, so she didn't have a job or she hasn't had a job in a while. And so I, I felt like I wanted to give her a little bit of income. I was starting to make money myself. And I don't know, I ju- I ju- I just wasn't, I didn't get the full scope of how bad of our debt was.

• 28:11Speaker 03

  Can I tell him what you told me that one time?

• 28:13Speaker 04

  Sure.

• 28:14Speaker 03

  I, I.

• 28:14Caleb Hammer?

  Well, no, no, no, let me Abraham Lincoln say it.

• 28:19Speaker 04

  Oh, um, yeah, she, she, uh, was saying about how I, I told her we need to stop being so stingy with our money or something.

• 28:32Speaker 03

  Selfish, word for word. I was like, I brought it up that we needed to like, reevaluate like how we're supporting family members.

• 28:39Speaker 04

  Family members more.

• 28:40Speaker 03

  No, I was like, you don't understand, like, we're in debt, like, bad. Like, I need you to put your money toward our main finances. This was like, end of twenty twenty three.

• 28:51Caleb Hammer?

  What are you saying? What? Get to it. I'm sorry, what? What, what was said?

• 28:56Speaker 03

  Uh, he told me, he's like, I needed to stop being selfish with our money. Because I wanted him to charge his brother for living with us and stop paying his mom as much as he was paying her. He doesn't love with us anymore, but he lived with us for a year for free.

• 29:13Caleb Hammer?

  Okay, um, all right, sure, sorry, I just, I don't, I don't. It's weird, it's weird, it's weird. You're a little, you're a little domineering, aren't you?

• 29:25Speaker 03

  I don't mean to be, I am controlling though. I try not to be controlling. I, I really do try not to.

• 29:29Caleb Hammer?

  I feel like that usually impacts decisions around the household if we have one that's a bit controlling.

• 29:35Speaker 03

  Yeah, probably.

• 29:36Caleb Hammer?

  This is huge for financial audit. For a year now, my team and I have worked with experts to create what I truly believe are the three best educational programs in the financial space online. We have our budgeting program where I teach you how to create, manage, and revolutionize your budget and control your money. And then there's the investing program where I teach you to define what investing profile applies to you and your life, and then teach what specific investing strategies applies to you in that situation. And now finally, we have our debt program where I teach you the best ways to pay off debt, manage debt, and even take advantage of. Good debt. This has been a revolutionary project that we've been working on for over a year now. And just like over 10,000 people who've already taken our educational programs,

• 30:22Caleb Hammer?

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• 30:50Speaker 04

  Yeah, I mean, there was a long time there where I wasn't working. Covid hit. I didn't have a job for two years. I was staying at home. And she, she, she was making all the money, but she was also making a lot of big

• 31:04Speaker 00

  Hosts Thanksgiving with industry-leading quality standards from Whole Foods Market. There are no antibiotics in their meat department ever, so carve up turkey and spiral cut ham with peace of mind. Shop organic sides like stuffing mix and cranberry sauce from 365 brand. And guess what? All their delectable pies are made with no high fructose corn syrup. Gourmet Thanksgiving flavors with the quality you want, only at Whole Foods Market.

• 31:33Speaker 04

  Purchases. And I would try to reel that back in, but I felt like I didn't. Like I wasn't bringing in the money, so I was having a hard time.

• 31:44Caleb Hammer?

  Getting to the end of the sentence?

• 31:48Caleb Hammer?

  Okay, I guess I'm gonna move forward.

• 31:52Caleb Hammer?

  Okay, yes, there's your IRS debt payment.

• 31:58Caleb Hammer?

  Okay, we have credit cards. Oh, good. Credit cards are transactions.

• 32:02Speaker 03

  So this one we pay off every month. It's just we keep our subscriptions. We keep our subscriptions on there.

• 32:08Caleb Hammer?

  Why do we have paid subscriptions if we literally owe money to the IRS and we have no money to retire? What the are we doing?

• 32:14Speaker 03

  So we have Spotify and

• 32:15Caleb Hammer?

  Good!

• 32:16Speaker 03

  And

• 32:16Caleb Hammer?

  Listen ads, use this platform we're on.

• 32:19Speaker 03

  And then we have Netflix for the kids.

• 32:20Caleb Hammer?

  Good, use this platform that we're on. It's free. Same with Disney plus. Use this platform. Lots of Disney clips on here.

• 32:27Speaker 03

  Oh, yeah.

• 32:27Caleb Hammer?

  I promise. They're also kids. They're dumb. They don't know things. They're just, well, the fourteen year old. I mean, but he's probably watching YouTube and

• 32:35Speaker 03

  Yeah, he only watches YouTube, but the

• 32:36Caleb Hammer?

  Yeah, exactly. You know, he has taste.

• 32:38Speaker 03

  Younger one, like she is, like I had to put a PIN number on Amazon Prime because she will pay. Thanks. You'll see return. Yeah, you'll, well, it's on her TV, but you'll see returns on her, on our thing from Prime because I have to like call them like, hey, I didn't buy this.

• 32:53Caleb Hammer?

  Get rid of the smart damn TV dude. Sounds like an investment to not spend money.

• 32:57Speaker 03

  She buys like Guitar Center

• 33:00Caleb Hammer?

  Cancel.

• 33:01Speaker 03

  Interviews. It's hilarious.

• 33:03Speaker 04

  But you, you set up a PIN.

• 33:05Speaker 03

  I have a PIN number, so she can't do anymore. But she was buying Guitar Center over and over again because she likes to watch the Papa Roach interviews. It's her favorite band.

• 33:15Speaker 03

  I'm dead serious.

• 33:18Caleb Hammer?

  Cancel these subscriptions. Cancel these subscriptions. There is a beautiful free platform right here. And the four year old doesn't know what the [bleep] going on in the world.

• 33:30Caleb Hammer?

  She'll be fine. She'll bitch, she'll whine, and we'll trap her in a closet.

• 33:36Caleb Hammer?

  Okay, now, Amazon, her favorite thing.

• 33:41Speaker 03

  So I think those are just shots of, yeah, those are the things we buy on Amazon that are groceries.

• 33:47Caleb Hammer?

  Cat food, Crave Grain, more cat food.

• 33:53Speaker 03

  Tahit.

• 33:54Caleb Hammer?

  Death Wish Coffee.

• 33:55Speaker 03

  Yeah. So that's every other, yeah, it's really good. It's every other month subscription for a five pound bag.

• 34:01Caleb Hammer?

  Okay, great. All right, City Advantage Platinum card. Now, this is a thick boy. Yeah?

• 34:09Speaker 04

  Yeah.

• 34:10Caleb Hammer?

  What is going on here?

• 34:12Speaker 03

  Is this the American Airlines or the Costco?

• 34:14Caleb Hammer?

  American Airlines.

• 34:15Speaker 03

  Okay. This one is, I don't like this card. It charges me ninety nine dollars a year.

• 34:20Caleb Hammer?

  Uh huh. Why is this here, guys? Come on.

• 34:22Speaker 03

  I'd like to have it closed before.

• 34:23Caleb Hammer?

  Close it then.

• 34:24Speaker 03

  Before. Well, I have a

• 34:25Caleb Hammer?

  You mean pay off the balance?

• 34:26Speaker 03

  Yeah, I want to pay it, but I don't know. I want to close it because they charge you ninety nine dollars to have the card.

• 34:31Caleb Hammer?

  Yeah, so close it.

• 34:31Speaker 03

  Yeah. Can you close it when you owe still?

• 34:34Caleb Hammer?

  Typically.

• 34:34Speaker 03

  Yeah, I will get it closed. Um.

• 34:37Caleb Hammer?

  So if the path of balance doesn't go away.

• 34:39Speaker 03

  Yeah, I know. I just, I thought we had to have it paid off before we could close it.

• 34:44Caleb Hammer?

  Typically not, but maybe. Okay.

• 34:47Speaker 03

  So we we opened.

• 34:48Caleb Hammer?

  Why is this here, guys?

• 34:49Speaker 03

  We had it a long time ago when we were like, we have family all over the country and we used to use the flight miles. We haven't used them in over a year. That card's worthless to us.

• 34:57Caleb Hammer?

  You haven't used it in a number of years. It's a thousand hours from being maxed out. What the are you talking about?

• 35:01Speaker 03

  Like, I mean, no, I meant the flight miles. We haven't used those in over.

• 35:04Caleb Hammer?

  Why is the balance so high, guys? I don't care about.

• 35:07Speaker 03

  Okay, the balance is high.

• 35:09Caleb Hammer?

  Why is it where it is?

• 35:11Speaker 03

  So we took.

• 35:11Caleb Hammer?

  Also, it was opened in twenty twenty one, so a long time ago. I don't think you know what that phrase means.

• 35:15Speaker 03

  Truth. Um, there's a five thousand dollar loan that we got on it because when I wrecked my car and we had to.

• 35:22Caleb Hammer?

  Loan, like a separate?

• 35:24Speaker 03

  Yeah, so it's separately interest. It's like twelve percent, which is so stupid.

• 35:28Caleb Hammer?

  Yeah.

• 35:28Speaker 03

  Um, so this sucks. Uh, we did this.

• 35:32Caleb Hammer?

  What you're talking about.

• 35:34Speaker 03

  There's a, it's like a five thousand dollar, like separate interest, like it's like a pay for plan.

• 35:39Caleb Hammer?

  Yeah, yeah, yeah. Yeah, it's a twenty seven point seven four percent interest.

• 35:42Speaker 03

  Well, no, I'm sorry, the two thousand dollar one. It was originally five thousand. It's down to two thousand now. Um, there's two separate ones. So it's the it's the two thousand. Yeah, that one. Um, that was originally.

• 35:53Caleb Hammer?

  Months.

• 35:54Speaker 03

  Yeah, it was originally five thousand.

• 35:56Caleb Hammer?

  C flex.

• 35:57Speaker 03

  Hmm.

• 35:58Caleb Hammer?

  Loan rate until paid in full. Hold on.

• 36:00Speaker 03

  And.

• 36:03Caleb Hammer?

  Oh.

• 36:05Caleb Hammer?

  Um. Okay. Charged the plan for twenty five dollars. Interest charged on purchases a hundred twenty nine dollars. Then it's charged the standard purchase was one dollar thirty seven cents. Okay. So interest charging across the board like crazy. Again, we're at eight thousand one hundred twenty five dollars with a three hundred sixty eight dollar minimum payment. Not insignificant. Luckily, you guys make money.

• 36:26Speaker 03

  Well, in our.

• 36:26Caleb Hammer?

  Takes seventeen years to pay off the minimum monthly payments, the way you guys are doing it. Congratulations. We're gonna be approaching sixty by the time this is paid off.

• 36:35Speaker 03

  So we um we're always so close to the credit limit. They've decreased it since then, which is fair. I would like to close it. Um, but the $5,000 was so we could pay our taxes and title on our car when we wrecked it and had to get a new car.

• 36:49Caleb Hammer?

  Oh.

• 36:50Speaker 03

  I should have.

• 36:50Caleb Hammer?

  You didn't have gap?

• 36:51Speaker 03

  Oh, I did have gap and I put my money toward my down payment and then I forgot that I was gonna need to pay the taxes and title separately. Don't roll it into the loan. And so that was right.

• 37:02Caleb Hammer?

  Well, you did roll it into the loan. You took out a 12% loan.

• 37:05Speaker 03

  I know.

• 37:05Caleb Hammer?

  Which is higher than your car interest rate loan.

• 37:08Speaker 03

  Yes.

• 37:08Caleb Hammer?

  So it would have been better to put it in your car loan.

• 37:10Speaker 03

  Yeah.

• 37:11Caleb Hammer?

  Technically.

• 37:12Speaker 03

  They just didn't put it in your car loan back then. For that.

• 37:15Speaker 04

  They wouldn't allow it.

• 37:18Speaker 03

  Wrecking my car was a big setback because.

• 37:22Caleb Hammer?

  When was that?

• 37:23Speaker 03

  I wrecked it in August of 22, the month I took my new job. I totaled it.

• 37:27Caleb Hammer?

  This was just two years ago.

• 37:28Speaker 03

  Yeah, so it was a setback because we had a really great interest rate and a great payment and a great purchase price on my car. And then now we have the same car for it and our insurance went up a lot and we have the same car with a higher interest rate and a higher payment. Because everything, the price of everything went up, like even a, like I got my monies, I got what I owed and then some back on that car. And we put what we got back on my car as a down payment, just to get it down close to what we paid on the first one.

• 37:59Caleb Hammer?

  All right, all right. We'll get to the car. We'll get to the car. Wells Fargo, $1,064.53.

• 38:06Speaker 03

  That's the car.

• 38:08Caleb Hammer?

  Oh, that's the minimum monthly?

• 38:10Speaker 03

  Yeah.

• 38:11Caleb Hammer?

  That's an insane minimum monthly. What possible car is this?

• 38:14Speaker 03

  It's a Tesla.

• 38:16Caleb Hammer?

  Tesla Model what?

• 38:17Speaker 03

  Why?

• 38:18Caleb Hammer?

  For a thousand dollars a month? Tesla Model Y? That's like a Model X type pay payment.

• 38:23Speaker 04

  It's the 1100.

• 38:24Speaker 03

  It was, um, it used to be seven, like 64 and we had a 2.4% APR. And then when I totaled it.

• 38:31Caleb Hammer?

  Guys, the interest rates for these cars are now zero percent.

• 38:34Speaker 03

  It makes me sick. It literally makes me sick because when we bought it, the price of the Model Y went up and then I had to get a performance to get it quicker and.

• 38:41Caleb Hammer?

  Why do you need it quicker? What are you talking about? It already goes quick.

• 38:44Speaker 03

  Well, back then, like I waited eight months for my first Model Y. Like I was on the waiting list.

• 38:49Caleb Hammer?

  Get another car.

• 38:50Speaker 03

  Yeah, that's what I should have done. But I was. I didn't want to go back. Courts.

• 38:56Caleb Hammer?

  You ever feel like you're just burning money on car insurance? That used to be me every single month, throwing cash out the window for a plan I didn't even understand. Listen, if you haven't compared your car insurance rates in a while, you're possibly getting played. I'm talking about paying way more than you need to. Luckily, money.com has got you covered by helping you compare multiple car insurance options all in one place. So you don't have to waste your time calling 15 companies like it's 1995. You might take a look and find out you've been overpaying by hundreds of dollars, hundreds. It can take just minutes to find a better rate. They'll give you options to compare side by side, whether you need full coverage, liability, or just want to pay less for the same plan you already have.

• 39:37Caleb Hammer?

  So if you're tired of getting burned by fees, click the link in the description to check out money.com and compare car insurance options. Stop paying more than you have to. It's super easy and you could bump up your monthly savings rate. That's a win-win. This is a paid endorsement sponsored by money.com, which is compensated by its marketing partners. And the audience will hate me saying this, I get it. I also couldn't go to a other car.

• 40:00Speaker 03

  The two months I drove a gas car was horrible and I hated it.

• 40:04Caleb Hammer?

  People don't really understand.

• 40:05Speaker 03

  And all the, all the car prices were going up and at that time.

• 40:08Caleb Hammer?

  Could you afford this? Does it really make sense? You're paying a thousand dollars a month.

• 40:11Speaker 03

  It was the same month I took my new job and I could afford my other car. And it was the same month I took my new job, but I really.

• 40:18Caleb Hammer?

  Less a month with a lower interest rate.

• 40:20Speaker 03

  Yeah. And also my insurance was 180 before and now it's 360.

• 40:24Caleb Hammer?

  Why?

• 40:24Speaker 03

  Cause I had a car accident and I told my Tesla.

• 40:27Caleb Hammer?

  What was the accident? What happened?

• 40:28Speaker 03

  So I was getting off on an exit that had construction. So it was a makeshift exit and both the barriers were on the white lines. And so my car didn't even tell me that I was close because it wasn't registering. I was on the white lines. I just clipped the right side of my car when I was exiting.

• 40:42Caleb Hammer?

  That totaled it?

• 40:43Speaker 03

  It like tore off the whole front. Tire.

• 40:45Caleb Hammer?

  Why don't you look? Why do you need the car to tell you?

• 40:48Speaker 03

  No, no, just you know how Tesla has those warning signs that'll beep at you if you get close to the white line? I was just too close to the right side. It's just, it was really narrow. They had both concrete barriers on both lines.

• 40:58Caleb Hammer?

  I get that part. Why'd you hit it?

• 41:01Speaker 03

  It was accident. I'm a shit driver.

• 41:03Caleb Hammer?

  Then you shouldn't be driving.

• 41:04Speaker 04

  Glancing at that big nice screen?

• 41:06Speaker 03

  No, right? No, it was like six in the morning. It was my very first trauma meeting that I was hosting and I was nervous.

• 41:12Caleb Hammer?

  You shouldn't be driving if you can't do that. I'm confused.

• 41:15Speaker 03

  There's a lot of people out there who know me who will not disagree with you that maybe I shouldn't be driving because I am a horrible driver.

• 41:20Caleb Hammer?

  No, this is like an actual societal thing.

• 41:22Speaker 03

  No, I can, I can drive, but I, I clipped, I clipped the right end, the, the right front end of it. And that's what totaled it. It ripped off the tire.

• 41:32Caleb Hammer?

  Rips off the tire?

• 41:34Speaker 03

  Like I clipped the.

• 41:35Caleb Hammer?

  Equals total?

• 41:35Speaker 03

  I clipped the front of the car and it just pulled the tire off. I honestly thought that they.

• 41:41Speaker 04

  I mean, anyway, it was totaled. Insurance completely paid it off.

• 41:44Speaker 03

  Completely paid it off and we had.

• 41:45Speaker 04

  And then we had extra.

• 41:47Caleb Hammer?

  And then you.

• 41:48Speaker 03

  No, and then he was like, we should just buy a cash card. I'm like, no.

• 41:51Caleb Hammer?

  Yeah, maybe let's let him talk. What, why, what is your thoughts on this, buddy?

• 41:57Speaker 04

  I didn't want to get a Tesla in the first place. I wanted to keep our paid off Equinox.

• 42:02Caleb Hammer?

  Sounds great.

• 42:02Speaker 04

  She traded it in, got a Tesla. That was the first Tesla.

• 42:07Caleb Hammer?

  Cool. Wait, why, why, why, why, uh, you guys were in a disagreement with this? Why'd you lose?

• 42:12Speaker 03

  Cause.

• 42:13Speaker 04

  Oh, let's have him. She was able to convince me that it was a good idea to get the original Tesla.

• 42:18Caleb Hammer?

  How much did you yap at him for this convincing?

• 42:21Speaker 03

  Not that much.

• 42:22Caleb Hammer?

  Are you sure?

• 42:23Speaker 03

  No, I.

• 42:26Caleb Hammer?

  Is it because mama makes the money? Mama gets to spend the money?

• 42:29Speaker 03

  I've always loved my job and I did not love my job at the time. And so driving to work was literally a nightmare. Cause I worked in the ER as a ER nurse during COVID and COVID was still very big. I know, I know, but I wanted to enjoy my drive to work and I've never not had a car payment. I've always had car payments my whole life.

• 42:45Caleb Hammer?

  So we're gonna enjoy our drive to work because we get a car?

• 42:48Speaker 03

  No, like I was about to pay my Equinox off.

• 42:51Caleb Hammer?

  Yeah, so.

• 42:51Speaker 03

  I knew I could afford it. And so I'm like, if I'm the one driving to work, I'm the one making the money. Like I would like to enjoy my drive to work. I don't know how long.

• 42:58Caleb Hammer?

  The entire household. Okay, okay, okay.

• 42:59Speaker 03

  Yeah, basically, yeah.

• 43:00Caleb Hammer?

  That's great.

• 43:01Speaker 03

  He didn't want it. I did. It was me and.

• 43:03Caleb Hammer?

  And then why'd you win though? Why did you get the win? Why'd you get the win? The, I get the house award? Cause we also know that the price of these cars have gone down.

• 43:12Speaker 03

  I know so much.

• 43:13Speaker 04

  Oh yeah, we bought it the.

• 43:14Speaker 03

  The worst time.

• 43:16Caleb Hammer?

  They aren't really going down anymore, but they they increased their ability to produce these more effectively. They pushed out output. There was more supply. It was, you know.

• 43:24Speaker 03

  It is the best car I've ever owned. I will say that.

• 43:26Caleb Hammer?

  Model X is better, but.

• 43:28Speaker 03

  I could see that. I like, no, like I, I just, I, I don't know. Like I, at the time, like I really just. We had already talked about getting a Tesla. He says he didn't want one, but.

• 43:39Caleb Hammer?

  I don't care. What I was just trying to say is that it's worth twenty nine thousand dollars, but you owe forty five thousand.

• 43:45Speaker 03

  I know. That's, we looked at that because we were.

• 43:48Caleb Hammer?

  Okay, so. Oh, she's thirsty. All the spending makes her thirsty. Okay. I'd be thirsty if I could.

• 43:57Speaker 03

  My mom used to tell me this thing that I'm broke because I want to be.

• 44:00Caleb Hammer?

  Yeah, I mean, you wanted the Tesla.

• 44:03Speaker 03

  Mm hmm. She's like, you're broke.

• 44:04Caleb Hammer?

  There's nothing wrong with getting a Tesla or a car and you guys honestly probably could have, you guys are in a financial position where you could have had, you could purchase a Model Y in cash today.

• 44:13Speaker 03

  Yeah.

• 44:15Speaker 03

  I used to live by this. I don't see life, like I feel like a car payment is just part of life and recently I've come to learn.

• 44:22Caleb Hammer?

  You guys didn't have a car payment. What the?

• 44:24Speaker 03

  We still did. I paid it. So what I did is.

• 44:28Speaker 04

  Fully paid off.

• 44:28Speaker 03

  It had like two years left. And so what I did is I.

• 44:30Speaker 00

  Host Thanksgiving with industry leading quality standards from Whole Foods Market. There are no antibiotics in their meat department ever. So carve up turkey and spiral cut ham with peace of mind. Shop organic sides like stuffing mix and cranberry sauce from three sixty five brand. And guess what? All their delectable pies are made with no high fructose corn syrup. Gourmet Thanksgiving flavors with the quality you want, only at Whole Foods Market.

• 44:59Caleb Hammer?

  What are you guys talking about? Cause I, he told me there's a paid off car.

• 45:02Speaker 03

  It wasn't paid off.

• 45:04Speaker 04

  It was within a year.

• 45:05Speaker 03

  It was within a year. I increased our car payment to nine hundred dollars a month for a year, a six month.

• 45:12Caleb Hammer?

  Insane. What is the term on this?

• 45:14Speaker 03

  Um, it's, I don't know. I think it's a five year one. I. But

• 45:19Caleb Hammer?

  Seven percent, not great.

• 45:20Speaker 03

  No. So my Equinox, I increased our car payment up to nine hundred dollars and paid more on it.

• 45:26Caleb Hammer?

  Okay.

• 45:26Speaker 03

  See if I could get if, if, if that was something I could afford.

• 45:30Caleb Hammer?

  Okay.

• 45:30Speaker 03

  That the Tesla was going to be expensive and I did that first.

• 45:33Caleb Hammer?

  If you cut back on everything, sure. Does it still make math? It does. Is it good for the household? No, not necessarily. So that, I mean, there's different conversations.

• 45:41Speaker 04

  Makes everything harder and, and then you accidentally bought hundred dollars for autopilot that one time.

• 45:47Speaker 03

  Times, yeah.

• 45:48Speaker 04

  Couple times.

• 45:49Caleb Hammer?

  What? How do you do that accidentally a couple of times? What do you, what are you?

• 45:51Speaker 03

  I just, I don't know. Sometimes I do the.

• 45:53Caleb Hammer?

  Full self-driving? Are you talking about that?

• 45:55Speaker 03

  Yeah, that one. It's full self-driving. I did that in July for a month.

• 45:59Caleb Hammer?

  How do you do? How do you accidentally?

• 46:01Speaker 03

  And in May. It wa- it wasn't an accident. I did autopilot in May.

• 46:05Caleb Hammer?

  Guys, this conversation is irritating me. This conversation is starting to irritate me. For sake, city double cash. Are these all, are, are, who, what, who's, who's, are they both yours? Are they each other? What? Who? City double cash. What? Who?

• 46:21Speaker 03

  So he opened that one?

• 46:22Speaker 04

  Yeah, I.

• 46:23Caleb Hammer?

  Okay, tell me about it, cuz you're basically couple, well, it's a couple thousand for max.

• 46:29Speaker 04

  Yeah, so I opened about four, I opened four balance transfer cards.

• 46:36Speaker 03

  Zero percent.

• 46:36Speaker 04

  A couple of months ago.

• 46:38Caleb Hammer?

  Oh.

• 46:38Speaker 03

  And we transfer balances off of.

• 46:40Caleb Hammer?

  Okay, and what is that helping other than interest? Cuz you guys aren't changing behavior not for a single second. You guys just get, you're gonna make your debt worse. Every time everyone does this in your guys' situation, they balance transfer. Then the card that no longer has a balance, they build all the way back up again. You realize this, right?

• 46:54Speaker 03

  Yeah, we're hoping we're not those people.

• 46:55Caleb Hammer?

  Hoping, that's hoping doesn't get us there. Hoping doesn't get us to not spend money. The hoping's not a strategy. What the are we talking about?

• 47:01Speaker 03

  We wanna get a wake-up call so we can get our life together.

• 47:05Caleb Hammer?

  I'm not a magic pill. I can help you understand your debt, get a budget, connect you with resources, absolutely. Like for example, I mean, we're gonna put you through the debt class, the budgeting class, the investing class, which are, by the way, all bundled for twenty-five percent off right now. You guys get to go through all that. And you should, together, go through all the quizzes, go through all the education. You get that.

• 47:22Speaker 04

  Yeah.

• 47:22Caleb Hammer?

  What else? You guys put in the action out of it matters. Oh, you know, I go to school. I do all these things. If I go to like a music class, not if it matters if I don't go home and practice. Okay. So this is a balance transfer. It already had two thousand and then.

• 47:34Speaker 03

  No, they're both. This is multiple balance transfers.

• 47:37Caleb Hammer?

  Okay, minimum payment sixty nine bucks.

• 47:39Speaker 04

  That's why it's maxed out is just so we can.

• 47:43Speaker 03

  Yeah, he, there's like four balance transfer cards, I think, in there.

• 47:47Caleb Hammer?

  Expires and.

• 47:50Speaker 03

  There's one that expires in like twelve months and the rest are fifteen to eighteen months.

• 47:54Caleb Hammer?

  Yeah, this looks closer to that fifteen eighteen.

• 47:57Speaker 04

  And doing that.

• 47:57Caleb Hammer?

  And that balance transfer fees, of course.

• 47:59Speaker 04

  My credit score from seven thirty to six hundred.

• 48:02Caleb Hammer?

  Why would you want to do?

• 48:05Speaker 03

  Yeah, no, I guess, because of the utilization rate.

• 48:10Caleb Hammer?

  You guys are not credit card people. You don't even know. I'm okay with. Fist cards geared more towards college students. It's a debit card that helps build. Credit and I recommend that to every guest and you guys kind of can, but the rewards are geared more towards college students. So I don't, I don't know, but.

• 48:26Caleb Hammer?

  You cannot use credit cards and close the accounts. So you don't have access to them. You want to hope? Okay. Close the account so you can't spend money on it.

• 48:35Speaker 03

  All my cards back in January.

• 48:36Caleb Hammer?

  You can unlock them, close them. Your credit score is already.

• 48:39Speaker 03

  I haven't unlocked them since January. I did lock them in January, but I could, yes.

• 48:44Caleb Hammer?

  You go out and accidentally buy full self driving for a month, so I don't.

• 48:48Speaker 03

  I've closed. Sounds so bad. I've closed a few, like some of the cards that we transferred on to here. I've closed those. Like we had a target card. I closed that one. Like it was that, that was one of the transfers to one of these cards.

• 49:00Caleb Hammer?

  So you know how to do it, then do it for all of them. Why not? Why haven't you?

• 49:03Speaker 03

  I just thought I had to pay them off to close them, so I will get them closed. Cause I don't, I agree with you. I'm not a credit card person, obviously. If I got myself into this kind of mess.

• 49:12Caleb Hammer?

  Okay, we got Costco.

• 49:20Speaker 03

  This one's so bad. I don't even know.

• 49:22Caleb Hammer?

  You're gonna give this.

• 49:24Speaker 03

  We were still using this one for a while and we were making.

• 49:26Caleb Hammer?

  Guys, this card is a doom.

• 49:28Speaker 03

  Yeah, we used to spend a lot of money on groceries at Costco and I'm like, I don't think Costco is good for us. I think we, cause a lot of this food, yeah, it's insane. It is insane.

• 49:38Caleb Hammer?

  Is it even in? Like, what is happening?

• 49:41Speaker 03

  So actually, it used to be much higher. It used to be twenty something thousand. Like, we stopped using it and started, like, we're trying to, that's our focus right now is that card. But yeah, that, that one was.

• 49:50Caleb Hammer?

  Okay. Two hundred ninety-one dollars of interest is accruing, four hundred seventy-one dollars of minimum payment balance of eighteen thousand forty-eight dollars, guys.

• 49:56Speaker 03

  Mm-hmm.

• 49:57Caleb Hammer?

  It's crazy.

• 49:58Speaker 03

  It's insane. Stupid, stupid.

• 50:00Caleb Hammer?

  All in Costco spending?

• 50:02Speaker 03

  Yep. Well, no, you can buy that. You can use that card anywhere.

• 50:05Caleb Hammer?

  No, I'm asking you guys.

• 50:07Speaker 04

  No.

• 50:07Speaker 03

  I mean, mostly, we would spend like eight hundred dollars every time I go to Costco on groceries.

• 50:11Caleb Hammer?

  And how often would you go to Costco?

• 50:12Speaker 03

  We would go like twice a month. I'm telling you, our grocery bill was out of.

• 50:14Caleb Hammer?

  Why? I don't understand. Why? What are you guys getting and using?

• 50:19Speaker 03

  And we use that card a lot.

• 50:20Caleb Hammer?

  That didn't answer my question.

• 50:22Speaker 03

  Yeah, we just, I don't know.

• 50:23Caleb Hammer?

  You just dodged that.

• 50:24Speaker 03

  I did. Um.

• 50:25Caleb Hammer?

  What are you guys getting?

• 50:27Speaker 03

  I, I kinda used to buy wine there, which was bad. We don't do that anymore. I don't buy wine there anymore.

• 50:32Caleb Hammer?

  How much of a wine drunk are you? That's a lot of wine.

• 50:35Speaker 03

  I have a whole closet.

• 50:37Speaker 04

  We spent twenty thousand dollars in California.

• 50:39Speaker 03

  Oh, for. We had a winery.

• 50:41Caleb Hammer?

  Oh, for fuck's sake. You, why, why are you living a millionaire life and you guys have forty thousand dollars in retirement and more than that in debt?

• 50:48Speaker 03

  Yeah, that's a good question.

• 50:50Caleb Hammer?

  That's a pretty darn good one.

• 50:53Speaker 04

  Yeah.

• 50:53Caleb Hammer?

  I wish there was a good answer.

• 50:57Caleb Hammer?

  Well, twenty-five years to pay off if we only do our minimum monthly payments. Interest this year so far on just this card, three thousand two hundred dollars. Of course, if we add them all up, probably five, six, seven thousand dollars in interest this year so far. Absolutely crazy insanity.

• 51:13Speaker 04

  That's bad.

• 51:14Speaker 03

  Maybe added our interest up for like a month one time when it is monthly and it's insane. It's like a car payment.

• 51:20Caleb Hammer?

  Oh, my gosh, guys, it just keeps going. Okay, who's discovered it? What?

• 51:26Speaker 04

  That's, uh, is that one of the balance transfers?

• 51:29Caleb Hammer?

  Oh, my gosh. Okay, so you're the balance transfer king. That's your thing. Ten thousand.

• 51:37Caleb Hammer?

  Two hundred eighty seven dollars and thirty seven cents. The two hundred six dollar minimum payment, you're only doing the minimums.

• 51:47Caleb Hammer?

  Okay. Zero percent until February of a year from this upcoming trip, right? So we have some time there. But still, that's such a huge balance that that time is. Like if we followed snowball or avalanche method, either way, it's just like, do we get to by the time the interest free period runs? I don't know. Okay.

• 52:10Speaker 04

  That's.

• 52:11Caleb Hammer?

  Gaff rewards.

• 52:12Speaker 03

  So I use it when I buy my kids their clothes and I have it set to pay statement balances. I don't make a.

• 52:18Caleb Hammer?

  But do you trust yourself? I don't trust you to have a credit card. I don't. Especially since you've paid interest on this card this year so far. So obviously you do not pay it off in time all the time.

• 52:27Speaker 03

  Yeah, I, that's true. I, I switched it to statement balance early this year.

• 52:32Caleb Hammer?

  Uh huh.

• 52:32Speaker 03

  Um.

• 52:33Caleb Hammer?

  Well, it's not been early enough.

• 52:35Speaker 03

  Cause when I first like, I first have them all at minimum.

• 52:37Caleb Hammer?

  Also had fees.

• 52:38Speaker 03

  Yeah. So I had it linked to auto pay off my debit card and my debit card expired and I didn't realize it was not auto paying that card and I had to call them. I think they reversed it, but that's what that fee was.

• 52:51Caleb Hammer?

  Does PayPal pay it off every time too? Looks pretty close.

• 52:54Speaker 03

  Uh, is that the Mastercard PayPal? Yeah. That's, it's what it's linked to my, our like.

• 52:59Caleb Hammer?

  I don't know. You tell me.

• 53:00Speaker 03

  Our Steam, our Steam account. Yeah.

• 53:02Caleb Hammer?

  What, what are you guys steaming?

• 53:03Speaker 03

  We're gamers. We like to play video games.

• 53:05Caleb Hammer?

  You can't, but okay, great. Play the games you already have.

• 53:09Speaker 03

  So my son will buy like expansions whenever he does chores around the house. Like that's what he wants to spend it on.

• 53:13Caleb Hammer?

  Hello, son. Mom and dad are never gonna be over the retirement.

• 53:15Speaker 03

  I tell him that. I literally, I'm like, dude, you're gonna get me wrapped on.

• 53:17Caleb Hammer?

  You tell him, no, he's a fourteen year old.

• 53:20Speaker 03

  Yeah. He, so those were his purchases, but he didn't give me cash. He had cash from Christmas.

• 53:24Caleb Hammer?

  Okay. Well, that part's okay. As long as you put it right towards it.

• 53:27Speaker 03

  Yeah.

• 53:28Caleb Hammer?

  You got Steam games and Microsoft and Microsoft and Microsoft and Blizzard and then Domino's.

• 53:32Speaker 03

  Blizzard's, what's that?

• 53:33Caleb Hammer?

  Domino's is not gaming.

• 53:35Speaker 04

  Blizzard would be.

• 53:36Speaker 03

  Domino's is not gaming, but it was related to gaming.

• 53:38Caleb Hammer?

  You can have Blizzard.

• 53:39Speaker 03

  Cause we were playing Diablo when the new expansion came out and I literally didn't wanna cook.

• 53:44Caleb Hammer?

  You just don't have money. Play what you already have.

• 53:46Speaker 03

  We have, we have Diablo. I didn't.

• 53:48Caleb Hammer?

  I'm sure you guys have a vast library.

• 53:50Speaker 03

  That was his.

• 53:51Caleb Hammer?

  Play it for a couple of years. You're gonna be working to get out of debt quicker. So I don't even like.

• 53:56Speaker 03

  Yeah, like I only play low and new seasons and expansions come out and I ha- own it and I don't have to pay for anything. I think you had to buy some coins to have like the

• 54:05Caleb Hammer?

  I don't get guys, stop. I don't need a just like, it's not a life story. I'm sorry. It's just like you don't have money, don't spend it.

• 54:15Speaker 03

  But that's why we went to Domino's cuz

• 54:17Caleb Hammer?

  cuz we didn't have money?

• 54:18Speaker 03

  Mom didn't wanna cook that day cuz I wanted to play video games.

• 54:22Caleb Hammer?

  Yeah, you're a child?

• 54:24Speaker 03

  I was that weekend. My, my fourteen year old called me a child cuz he was like, dude, you know, I'm not playing video games right now. Like, all I want is

• 54:32Caleb Hammer?

  I'm losing hope here, guys. If our fourteen year old has to tell us. That's not a joke. That's not funny. That's not funny at all, guys.

• 54:45Caleb Hammer?

  Oh, good, good. Oh, my gosh. It really just

• 54:52Caleb Hammer?

  keep going. Just keeps going. American Express Blue Cash every day. There it is. That makes sense. That's falling into what we're used to. Well, okay, we have a thousand five hundred and four dollars on here and seventy five cents. Wonderful. Minimum monthly forty and that's all we put towards it. Means it's gonna take four years to pay off the way you're doing it now, which means the interest is certainly gonna start before then. So I don't know. Did we have a plan? What was the plan? I don't see anything indicating a possible plan within here other than the larger payment on that one credit card. This ends a year from now.

• 55:35Caleb Hammer?

  Do we have a plan?

• 55:37Speaker 04

  Keep making larger payments on the high interest credit cards.

• 55:42Caleb Hammer?

  Okay, so avalanche method?

• 55:43Speaker 03

  Yeah.

• 55:44Caleb Hammer?

  At the rate we're doing one so far, we get out of debt in

• 55:51Speaker 03

  There's a pie chart here.

• 55:55Caleb Hammer?

  We get out of debt in, um, hundred and eighteen months.

• 56:02Caleb Hammer?

  So

• 56:04Caleb Hammer?

  bad plan, guys. Bad.

• 56:07Caleb Hammer?

  Bad. Okay? Bad plan.

• 56:10Speaker 04

  That's too many months.

• 56:12Speaker 03

  That's too many months. That's more months than I would like.

• 56:15Caleb Hammer?

  Sorry, I just threw something at your wife. Only you are legally allowed to do that in the state of Texas.

• 56:21Speaker 03

  Wait, he's legally allowed to do that in the state of Texas?

• 56:27Caleb Hammer?

  Amazon synchrony card.

• 56:29Speaker 03

  So this one was another one that had the my debit card connected to it that expired and so I had two missed payments but when I went to go call them and try to get them reversed because I never had a missed payment before so it said on autoplay they offered me zero percent if I closed the account so I took it and I closed the account and took the zero percent.

• 56:50Caleb Hammer?

  Good.

• 56:51Speaker 03

  So.

• 56:52Caleb Hammer?

  Good. Zero percent forever?

• 56:53Speaker 03

  Yes, until it's paid off and they have a minimum monthly. So right now that's not our top priority because it's zero percent. Me too. I was like, can my other cards do this? Was it all because I missed two payments because of the, yeah, I've called, I called all of our credit cards after that and none of them would even lower.

• 57:09Caleb Hammer?

  Well, it takes four years to pay off forty four dollars a month.

• 57:14Caleb Hammer?

  Oh, is this your Tesla breakdown?

• 57:16Speaker 03

  Mm hmm.

• 57:17Caleb Hammer?

  Gosh, let's see.

• 57:18Speaker 03

  I see full self driving on here. Yeah, we didn't add it to the thing like it's it's just um we didn't pay extra for full self driving.

• 57:29Speaker 04

  You're talking about right now?

• 57:30Caleb Hammer?

  Why is it on here?

• 57:30Speaker 03

  It's capable, but it's not. We didn't pay extra for it.

• 57:35Caleb Hammer?

  You got the performance brakes?

• 57:37Speaker 03

  We got the performance because it was still gonna be.

• 57:41Caleb Hammer?

  Cause the other brakes aren't.

• 57:42Speaker 03

  Four or five months.

• 57:44Caleb Hammer?

  Black. Oh, you got the premium interior. Had to get the premium interior, guys.

• 57:48Speaker 03

  We got it exactly the way our other one was, but the Model P, the Model Y performance instead of the Model Y long range. So it was a thousand dollars more.

• 57:56Caleb Hammer?

  All right, we got the performance pedals.

• 57:58Speaker 03

  Yeah.

• 58:01Caleb Hammer?

  Guys.

• 58:03Speaker 03

  It makes you feel like we will not buy another car until that is paid off and we have cash to buy another car.

• 58:08Caleb Hammer?

  Uh huh. It's the only option.

• 58:10Speaker 03

  Yeah.

• 58:11Speaker 04

  But we're not gonna be.

• 58:13Speaker 03

  So I have.

• 58:14Caleb Hammer?

  Seriously continue.

• 58:15Speaker 03

  The what what bothers me though is that. They, you know, Tesla doesn't have, offer gap insurance when you buy your car from them?

• 58:22Caleb Hammer?

  You can get insurance through other insurance providers like I do.

• 58:25Speaker 03

  Do we have, cause I don't, I've called.

• 58:27Caleb Hammer?

  Don't get Tesla insurance if that's the case.

• 58:29Speaker 03

  No, I have, um, I have State Farm and they don't offer gap insurance.

• 58:33Caleb Hammer?

  Okay.

• 58:34Speaker 03

  And so if we have an accident, now we're because our car literally is not worth.

• 58:40Caleb Hammer?

  Well, we know you're not able to drive with a wall next to you, so.

• 58:43Speaker 03

  That's true. Yes, exactly. Thank God that, I can't drive the wall. No, um, but if we had another car accident, like that's our only car. We only have one car. So we, he has a work van, but I'm.

• 58:53Caleb Hammer?

  We know you're dramatically underwater.

• 58:55Speaker 03

  Yes. So like, I don't have gap insurance. Like I don't know where to get gap insurance. Cause I've called.

• 59:00Caleb Hammer?

  Have you Googled?

• 59:01Speaker 03

  So Progressive will offer it, but I have to switch all of my stuff to Progressive. And since I have an accident on my record, my.

• 59:07Caleb Hammer?

  Have you worked with a broker?

• 59:09Speaker 03

  Yeah, I have a broker.

• 59:10Caleb Hammer?

  And?

• 59:10Speaker 03

  She, she put it, plugged it in through all of the other places and they couldn't, she couldn't give me a better rate than what I was getting at State Farm.

• 59:17Caleb Hammer?

  Great. But where is she able to get you gap?

• 59:20Speaker 03

  She could get me gap. My monthly would go up.

• 59:23Caleb Hammer?

  No.

• 59:24Speaker 03

  Like it wasn't the gap that made it go up. The gap was only like six dollars a month. It was everything else because I, State Farm, even though they're charging me an extra a hundred and fifty a month. Cause I had a car accident. That was a total.

• 59:35Caleb Hammer?

  Oh, it's cause your car accident bull.

• 59:37Speaker 03

  I had a car, I had a car accident. So it, it, like we stayed with State Farm because they, but they, my rates are like a hundred and fifty dollars more than they used to be. Actually they're way more than a hundred and fifty. But it'll show you, the accident will fall off soon, but it'll show you on there that, um, you're getting charged like a premium hundred and fifty dollars a month because you've had a car accident and it should, I talked to them today on our way here.

• 1:00:00Caleb Hammer?

  Wells Fargo says they do.

• 1:00:02Speaker 03

  They offer gap insurance. So do I just need to call them and ask them?

• 1:00:05Caleb Hammer?

  We took two seconds to Google it.

• 1:00:09Caleb Hammer?

  You guys have been around the technology of Google for a while now. I don't understand why no guest on the show is capable of literally.

• 1:00:16Speaker 00

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• 1:00:45Caleb Hammer?

  Finding out if something's true.

• 1:00:46Speaker 03

  I didn't know that Wells Fargo offered it.

• 1:00:48Caleb Hammer?

  I didn't even hear anything you said, by the way. I'm sorry. My voice has drowned out your voice at this point. I was reading what they were typing to me because they were searching it so that we could uh correct your thing. So.

• 1:01:02Speaker 03

  So I can call Wells Fargo and ask to add gap insurance on.

• 1:01:05Caleb Hammer?

  Do some Googles. I don't know, man, dude.

• 1:01:07Speaker 03

  Alright, cool.

• 1:01:08Caleb Hammer?

  What is it? SoFi Mastercard?

• 1:01:10Speaker 03

  That's a 0%.

• 1:01:12Caleb Hammer?

  This is a balance transfer?

• 1:01:14Speaker 03

  Yeah, this is the fourth one.

• 1:01:16Caleb Hammer?

  Why are all the balance transfers him?

• 1:01:17Speaker 03

  Because all the credit cards were in my name and he had nothing open and he had a 750 credit score, so he opened. He just did it. I came home from work and he's like, hey, I opened four balance transfer cards.

• 1:01:27Caleb Hammer?

  Without you knowing?

• 1:01:30Caleb Hammer?

  Because you led me to believe that you communicate, but not with the Tesla and with this. That is incorrect! So why would you do this without her knowing, my dude?

• 1:01:40Speaker 04

  I, well, she was happy I did it.

• 1:01:43Speaker 03

  It was, but also.

• 1:01:45Caleb Hammer?

  You did it without her knowing. A big financial move.

• 1:01:48Speaker 03

  Blaming, yeah, it's kind of like when.

• 1:01:50Caleb Hammer?

  No, no, no, no, no, no, no! Why would you do it without her knowing?

• 1:01:55Speaker 04

  I feel like we had discussed it previously and I just.

• 1:01:59Speaker 03

  I just screenshot about 0% credit cards. I'm like, yeah, I would never get, I would never get approved for that. Like right now and that's like not an option for me.

• 1:02:07Caleb Hammer?

  But D?

• 1:02:07Speaker 03

  You did it.

• 1:02:09Caleb Hammer?

  But D?

• 1:02:10Speaker 04

  Yeah.

• 1:02:11Caleb Hammer?

  Why?

• 1:02:16Caleb Hammer?

  Because.

• 1:02:18Speaker 03

  He wants us out of debt.

• 1:02:21Caleb Hammer?

  If he doesn't get us out of debt, you just move the debt and then you pay transfer fees on top of it. I know that there's less interest, but usually most people just build the debt back on the card that now has zero balance. I don't care about that reason. I want to know why you did it without talking.

• 1:02:38Speaker 04

  Hmm.

• 1:02:39Caleb Hammer?

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• 1:03:58Speaker 03

  That's not the first time either.

• 1:03:59Caleb Hammer?

  What? What else?

• 1:04:00Speaker 03

  You opened that credit card, the Capital One credit card that you had, that we had, that we paid off with one of those without me knowing. And the checking account, the savings account, when you started working.

• 1:04:09Caleb Hammer?

  Why? Why are you doing all these things?

• 1:04:12Speaker 04

  Uh.

• 1:04:14Caleb Hammer?

  You're a man of few words. Doesn't mean you can't tell her anything.

• 1:04:19Speaker 04

  I don't know.

• 1:04:20Caleb Hammer?

  That's not an answer, but guy, that's not an answer. What'd you think? You came home, boom, credit cards, zero percent, transfer.

• 1:04:29Speaker 03

  Like, this is only gonna work if we don't charge money to them. So they need to be, you need to set up auto pay right away.

• 1:04:34Caleb Hammer?

  What'd you think about him doing it?

• 1:04:35Speaker 03

  Oh, I was, I was a little bit like taken back that you didn't ask me, but then also was kind of like, well, this will help us if we can make big payments on the other ones. So it will help. It wasn't a bad thing. I actually called my mom and told her and talked to her about it too afterwards. I was like, hey, like Nathan opened up some zero percent cards to transfer debt to. He's like, well, she's like, that's good if you don't recharge any finances.

• 1:04:58Caleb Hammer?

  Tell mommy.

• 1:04:58Speaker 03

  I guess I do talk to my mom a little bit. I didn't, she just doesn't know how much that we have, but uh, also

• 1:05:06Speaker 03

  it wasn't a bad thing. I wasn't mad, but I also was like, it is only gonna work if you don't use these cards. And I think there's one card where when I went to go put in our, cause I have the, had logged in to enter all of our auto pay stuff. And I'm like, what is that? Why are you using this card or not? A transfer?

• 1:05:23Speaker 04

  Well, yeah, I did do that one time.

• 1:05:25Speaker 03

  Yeah, you did.

• 1:05:25Speaker 04

  On that so far card.

• 1:05:26Speaker 03

  So he like has a history of opening up things without it being a family decision.

• 1:05:32Caleb Hammer?

  Okay, which would lead me to believe that that is not going to not happen again in the future.

• 1:05:40Speaker 04

  It would lead you to believe that. I would, I see how.

• 1:05:44Caleb Hammer?

  How do we prevent that? That's not a good thing.

• 1:05:47Speaker 04

  I don't know how to not prevent it.

• 1:05:49Speaker 03

  Like, remember the plane, you remember the plane ticket to New York? So the plane ticket to New York, um, that you got after we decided that we weren't gonna do that.

• 1:06:00Speaker 04

  This summer.

• 1:06:01Caleb Hammer?

  Okay.

• 1:06:01Speaker 03

  So like when we hit rock bottom in April, May, like he was supposed to fly to New York for his brother's bachelor party. And we had decided that like, that's not something we can do financially. Like he needs to tell his brother he can't go. And then when he came out of our, his gaming room to tell me that he talked to his brother, it was to tell me that he bought a plane ticket instead.

• 1:06:23Caleb Hammer?

  What are you, independent? Are you not married? I'm confused.

• 1:06:28Speaker 03

  He only has one brother. I didn't go to either one of my sister's bachelor at, bachelor parties.

• 1:06:32Speaker 04

  I did say that.

• 1:06:33Speaker 03

  That was his reason. He has one brother.

• 1:06:34Caleb Hammer?

  No, I don't, I'm not against you going. I'm against the fact that you do things without conversating about them, ever.

• 1:06:41Speaker 03

  We had a conversation. The conversation was that it's probably financially smart that we don't do this.

• 1:06:49Caleb Hammer?

  Do you not think you're married? I'm confused.

• 1:06:51Speaker 04

  I think I'm married.

• 1:06:52Caleb Hammer?

  Why do you act like you're not financially? Does she have no say? Does she have no interest? Or is it because she's so domineering that you want a little independence? I don't know.

• 1:07:02Speaker 03

  Could be that. I mean, I, I, I do like to have control of situations, but I also don't, like I, I do care about what you need and want. I just don't.

• 1:07:12Caleb Hammer?

  I was hoping he would answer, not you, but.

• 1:07:14Speaker 04

  Yeah, I got some help to pay for it and so I just did it.

• 1:07:17Speaker 03

  Which is not something I'm cool with either.

• 1:07:19Caleb Hammer?

  Yeah, but everything combined, buddy. All the.

• 1:07:22Speaker 03

  Yeah, like, sorry.

• 1:07:24Caleb Hammer?

  Oh, guys. Oh, guys. Oh, boy. Okay. Advantage. Who's student loan do we have?

• 1:07:31Speaker 03

  Um, so it's, if it's one point, one percent, it's mine. Um, I think I advantage is me and then let him.

• 1:07:40Caleb Hammer?

  Yes. Advantage is small. What did you do?

• 1:07:44Speaker 03

  Uh, this is a associate's degree.

• 1:07:46Caleb Hammer?

  Good, good, good. Yes, that's right. That is right. We have two thousand four hundred twenty seven dollars. What's your monthly payment?

• 1:07:54Speaker 03

  It's like twenty something. And then the other one's another.

• 1:07:56Caleb Hammer?

  Twenty five, because it is small. So one point eight six percent. I would mend the monthly payment until it's paid off. Who has now net?

• 1:08:05Speaker 04

  That would be me.

• 1:08:07Caleb Hammer?

  Ah, what do you got? What'd you do to get this? You went to college, went to trade school? What'd you do?

• 1:08:12Speaker 04

  I went to college and did not complete a degree, so that that loan was essentially just to help me survive my early twenties, I guess.

• 1:08:23Caleb Hammer?

  Oh, you didn't even use it for like the school? Ah, dude, okay. Uh, monthly payment fifty nine bucks. It's not crazy. Fifty nine fifteen and then we owe six thousand two hundred forty eight dollars and forty eight and forty four cents.

• 1:08:41Caleb Hammer?

  Okay.

• 1:08:44Caleb Hammer?

  Interest rates, we're looking at three or four. So I had minimum payment till we pay off.

• 1:08:50Speaker 03

  And then on, on mine, there's, it's two, it's broke down. I don't know why. There was only one, but it's two thousand twice.

• 1:08:57Caleb Hammer?

  What's your other minimum payment?

• 1:08:59Speaker 03

  Twenty. It comes out to fifty nine total a month or forty nine.

• 1:09:03Speaker 04

  Minus fifty nine.

• 1:09:04Speaker 03

  Yeah, yours is forty nine. Mine's thirty nine total a month, but they're both about two thousand. Like every year when I would do my FAFSA or whatever, they would do a whole new loan. So they're all low interest, but they're just separated out. I've always just paid the minimums because they're one percent.

• 1:09:18Caleb Hammer?

  So we own our home.

• 1:09:20Speaker 04

  Yes.

• 1:09:21Speaker 03

  Yes, we do. We have a.

• 1:09:22Caleb Hammer?

  What is it worth? Do we know? Do we know?

• 1:09:23Speaker 03

  Yeah, it's worth like anywhere from, depends on what site you go on, like four eighty to five fifty.

• 1:09:28Caleb Hammer?

  Okay, we have a great equity position. We only owe two hundred ninety nine thousand, two hundred ninety seven dollars and ninety one cents. Wonderful. The minimum payment of two thousand five hundred fourteen dollars and forty seven cents.

• 1:09:40Speaker 03

  And that includes our like taxes and insurance.

• 1:09:42Caleb Hammer?

  All the goodies. It's your mortgage, your full package.

• 1:09:45Speaker 03

  Yeah.

• 1:09:46Caleb Hammer?

  Yeah, I bet you. At two point five percent, I had minimum payment until it is paid off. Great equity position. What did you guys put down for it?

• 1:09:52Speaker 03

  Um, we put down, I think we put like fifteen thousand down. It wasn't quite twenty percent.

• 1:09:57Caleb Hammer?

  And then you guys have just rode the market and it's been beautiful. Wonderful.

• 1:10:00Speaker 04

  Where did you get fifteen thousand from?

• 1:10:01Speaker 03

  My 401K. We pulled it out when we moved, when we bought that house. Yes, I know. It, literally, it was the 401K.

• 1:10:10Speaker 03

  That we did that. We pulled it out. It was no, it was whatever. Cause I moved back from Washington. So instead of rolling it in, we just took it out and used it to put down on our house. And then started my 401K over in twenty twenty. I know. I did tell my mom I did this though.

• 1:10:23Caleb Hammer?

  You're lucky it worked out.

• 1:10:25Speaker 03

  Yes, uh, cause I pulled it out and then the market crashed. So it was like.

• 1:10:28Caleb Hammer?

  Available balance, six thousand nine hundred in a checking account. That's great. Why do we have so much in there?

• 1:10:33Speaker 03

  We try to always keep enough in our checking account to pay.

• 1:10:35Caleb Hammer?

  You have enough.

• 1:10:36Speaker 03

  All of our bills the next month.

• 1:10:37Caleb Hammer?

  You have enough.

• 1:10:38Speaker 03

  Yeah.

• 1:10:41Speaker 01

  Para los grandes, para los chicos, para los bajos y los altos, los pacifistas, los valientes, para los optimistas y los pesimistas, los que valoran lo de adentro, para los que están lejos, los que no venden lejos y los que no venden cerca, para los introvertidos y los extrovertidos, para los que piensan y los que hacen, para los que nos mostraron el camino. Coca-Cola, para todos. Compra una Coca-Cola en una tienda cerca de usted.

• 1:11:12Speaker 03

  Yeah, I know. We, we just...

• 1:11:14Caleb Hammer?

  Starbucks, Chick-fil-A, Raisin Canes, Blizzard, more Blizzard, that must be you. Zellinout45.

• 1:11:21Speaker 03

  That's our lawn service. Our lawnmower broke, it was cheaper.

• 1:11:24Caleb Hammer?

  Amazon, Amazon, Costco.

• 1:11:29Speaker 03

  Costco's groceries.

• 1:11:30Caleb Hammer?

  I know what Costco is, guys.

• 1:11:32Speaker 03

  The Amazon was...

• 1:11:33Caleb Hammer?

  Ramen. I don't need this for every purchase. I don't. AMK, R, MB Events, Target, you never really know.

• 1:11:45Speaker 03

  Target was...

• 1:11:45Caleb Hammer?

  Mealy Q, The Children something, Express, Great American, Amazon, Zellinout45, Zellinout50, Prime Video, Prime Video, Kincaid's, Target.

• 1:12:00Speaker 03

  So those are returning.

• 1:12:01Caleb Hammer?

  Reoccurring car transaction, something, $358.

• 1:12:05Speaker 03

  That's my, that's my insurance, 358.

• 1:12:07Caleb Hammer?

  Oh, okay.

• 1:12:08Speaker 03

  That's my car insurance.

• 1:12:09Caleb Hammer?

  Target, Amazon, Culvers, Amazon, Starbucks, all this, well, we have IRS debt, mind you, and we have to consolidate or we have to transfer our debt because we can't pay it. So let's go get Starbies, Amazon, Amazon, Amazon, Amazon.

• 1:12:26Speaker 03

  Those were the purchases my daughter made that we got refunded.

• 1:12:29Caleb Hammer?

  Every single one.

• 1:12:30Speaker 03

  No, no. There's some bigger ones. I had to buy some stuff to make a pumpkin for work because we have to submit a decorated pumpkin.

• 1:12:36Caleb Hammer?

  Have to?

• 1:12:36Speaker 03

  Have to. It's a part of our, like, leadership.

• 1:12:39Caleb Hammer?

  They gave you a budget, then.

• 1:12:41Speaker 03

  No.

• 1:12:42Caleb Hammer?

  Tell them to...

• 1:12:42Speaker 04

  You have to spend your own money.

• 1:12:45Speaker 03

  Well, you don't have to go all out on the pumpkin like I do, but it's a very intense competition.

• 1:12:50Caleb Hammer?

  $4,000 SoFi savings.

• 1:12:53Speaker 03

  Mm-hmm.

• 1:12:54Speaker 04

  That's for taxes.

• 1:12:57Speaker 03

  We just start, we started it like this year.

• 1:12:59Caleb Hammer?

  It's a pay for taxes for the year that...

• 1:13:01Speaker 03

  Yes.

• 1:13:03Caleb Hammer?

  Forty three thousand dollars in a retirement fund, mostly S and P five hundred, actually fully S and P five hundred.

• 1:13:08Speaker 03

  No, it's fifty fifty.

• 1:13:09Caleb Hammer?

  Okay, you're right, thirty five to GoFund and then S and P five hundred. Who is this?

• 1:13:13Speaker 03

  Me.

• 1:13:14Caleb Hammer?

  Okay, so do you have nothing?

• 1:13:16Speaker 04

  I have nothing.

• 1:13:17Caleb Hammer?

  Why?

• 1:13:18Speaker 04

  Well, I've had some gaps in my employment.

• 1:13:22Caleb Hammer?

  Congratulations, why weren't you investing? Well, you didn't have the gaps.

• 1:13:26Speaker 03

  I guess that's on me, because I guess I could have put money into a thing for you.

• 1:13:30Caleb Hammer?

  Why? Why can't he do it himself? He's not your child.

• 1:13:32Speaker 03

  Oh, I thought, no, I thought you said why he had gaps.

• 1:13:34Speaker 04

  I'm currently not investing in my retirement because of all of our bad debt.

• 1:13:41Caleb Hammer?

  But you could save money on your taxes.

• 1:13:44Speaker 03

  So he's a ten ninety nine employee.

• 1:13:45Caleb Hammer?

  Uh huh. He could save money on his taxes.

• 1:13:49Speaker 03

  I didn't know that.

• 1:13:50Speaker 04

  With a Roth IRA?

• 1:13:52Caleb Hammer?

  Tax advantage, retirement accounts, maybe a solo 401k? Oh, okay, oh.

• 1:14:00Caleb Hammer?

  Oh, total income, ten thousand five hundred, that's what we agreed upon at the beginning in terms of not hitting our account. But, how, what, what number of that is yours?

• 1:14:13Speaker 04

  Uh, probably forty five hundred?

• 1:14:17Speaker 03

  Wait, for income coming to our account, you make it, like, your minimum that you'll make every, if you work forty hours, is a thousand a week.

• 1:14:25Speaker 04

  Yeah.

• 1:14:25Caleb Hammer?

  Cool, let's have four hundred aside for taxes.

• 1:14:28Speaker 03

  So I put.

• 1:14:29Caleb Hammer?

  No, but let's say eight hundred aside for taxes.

• 1:14:31Speaker 03

  Yeah, I put seven.

• 1:14:32Speaker 04

  Seven.

• 1:14:33Speaker 03

  Seven.

• 1:14:34Caleb Hammer?

  Probably not enough.

• 1:14:35Speaker 03

  Because you have to do direct deposit to get the APR in the SoFi account.

• 1:14:38Caleb Hammer?

  We probably need to actually set aside one thousand two hundred dollars a month for taxes.

• 1:14:43Speaker 03

  Okay, one thousand two hundred.

• 1:14:44Caleb Hammer?

  Cool, so real income then, seven thousand three hundred fifty dollars if you actually pay your taxes, and we know you guys don't like to, but maybe we should start doing that so we're not always [__]. Okay, debt payments, let's see, non mortgage. Oh, these are gonna, these are gonna add up, oh my gosh, Tesla, this is crazy, Costco card.

• 1:15:09Caleb Hammer?

  This stuff is wild to discover it. These are huge. So many cards, guys. What world are we living in? Okay, not, not even including mortgage. Our debt payment is two thousand five hundred ninety-four dollars and sixty-nine cents.

• 1:15:26Caleb Hammer?

  It's insane. Our mortgage, okay, two thousand five hundred fourteen dollars and seventy, uh, forty-seven cents. We already see, by the way, that five is gone out of the seven-three. Great. What about utilities, internet, all that combined?

• 1:15:38Speaker 03

  Uh, internet's forty-five. Um, water is seven, wait, electrics, two seventy-five. Water is, I think water right now is eighty.

• 1:15:51Caleb Hammer?

  Gas?

• 1:15:52Speaker 03

  Forty-five, maybe.

• 1:15:54Caleb Hammer?

  Okay, forty-five. Phone bill.

• 1:15:58Speaker 03

  So we, um, it was two oh five, but we have, I've called AT&T. I started looking at my bill more because we, we have, so we had phones that we turned in. They gave us a.

• 1:16:09Caleb Hammer?

  Guys, what is your phone bill?

• 1:16:10Speaker 03

  Two oh five. No, it's one forty-five now because I removed a bunch of things off of it.

• 1:16:14Caleb Hammer?

  If you, if your phone is paid off, I'd switch to helium, dude. Twenty bucks.

• 1:16:17Speaker 03

  They'll be paid off in May.

• 1:16:19Caleb Hammer?

  Then do that. Same towers as T-Mobile. Gas, vroom, vroom, drive, drive. Well, we know you don't. What about yours?

• 1:16:25Speaker 03

  His is usually.

• 1:16:27Speaker 04

  About a one hundred.

• 1:16:28Caleb Hammer?

  A month? Okay. Car insurance is?

• 1:16:32Speaker 03

  Three fifty-eight.

• 1:16:33Caleb Hammer?

  For both.

• 1:16:35Caleb Hammer?

  TP fund, anything else you need to survive. This is also including just, you know, to get pencils or stuff for school for the kids, two hundred bucks. Okay, necessary food, we could easily do, follow the meal plan in our thing, apply it to yourself, tweak it to your needs.

• 1:16:47Speaker 03

  I mean, I think we're, like, the kids are good for school for the rest of the year and then, um, like, we just got made a close.

• 1:16:53Caleb Hammer?

  Calculating your food budget, please.

• 1:16:59Caleb Hammer?

  We should be able to do a thousand.

• 1:17:02Caleb Hammer?

  You're meal prepping a couple of times a week, guys. Medical, healthcare, copays, anything.

• 1:17:07Speaker 03

  We have really good medical insurance. We just had to pay for, that's another thing that came out of our account recently was our daughter's surgery. It was like three fifty, but that's very rare.

• 1:17:15Caleb Hammer?

  Okay, but no ongoing copays, medications, stuff like that?

• 1:17:18Speaker 03

  Forty dollars every three months for my, my ADHD medicine.

• 1:17:21Caleb Hammer?

  Okay. We have pets, so we have pet insurance.

• 1:17:24Speaker 03

  No, but our dog is ten, he's a Great Dane.

• 1:17:28Caleb Hammer?

  Hard to get pet insurance.

• 1:17:29Speaker 03

  Well, we, he, he's on his, he's probably not gonna make it past this year.

• 1:17:35Caleb Hammer?

  What about cat?

• 1:17:36Speaker 03

  So the cat is a, is a pretty young cat. Um, I don't have pet insurance.

• 1:17:41Caleb Hammer?

  I'd get pet insurance, I'm putting thirty five there, because it makes it easier once it gets to the situation of like the Great Dane. Um, hopefully the Great Dane lives many, many.

• 1:17:49Speaker 03

  I would love to, I would love him to get to twelve, but he's, we lost our great, other Great Dane in twenty twenty two. Twenty twenty two was just a really rough year, I'm not gonna lie, like our other Great Dane died. And it cost us a thousand dollars to put him down and.

• 1:18:02Caleb Hammer?

  That's the absolute worst, I'm so sorry. Hopefully, hopefully this one just, you know, lives a very long, safe, happy life.

• 1:18:07Speaker 03

  Yeah, well, they usually only live like twelve years. He's at ten. I would love him to live.

• 1:18:10Caleb Hammer?

  Keep going, guy.

• 1:18:11Speaker 03

  I would love to give him two more years, yeah.

• 1:18:13Caleb Hammer?

  Okay, thirty five for the cat, uh, and then next time you guys get pets, get pet insurance, it helps in those types of situations. Okay, pet food.

• 1:18:21Speaker 03

  So we buy our dogs food at Costco and it's, we roll it into our grocery budget, because it's just

• 1:18:26Caleb Hammer?

  Pet food, come on.

• 1:18:27Speaker 03

  Forty five bucks, I think, for his dog food, and then the cat stuff was already on here. We buy the canned food once a month and then the dry foods every other month.

• 1:18:34Caleb Hammer?

  Guys, pet food, how much a month?

• 1:18:37Speaker 04

  A hundred?

• 1:18:38Speaker 03

  A hundred.

• 1:18:38Caleb Hammer?

  Okay.

• 1:18:39Speaker 03

  I'm sorry.

• 1:18:41Caleb Hammer?

  All right, gym?

• 1:18:43Speaker 03

  No, we have a gym in our house.

• 1:18:44Caleb Hammer?

  Anything else that I need to put in your budget that I have not taken into account? We haven't had one of these in a second for, you know, high income earners, but in order for you guys to survive, because of where you got in yourself, we actually need an extra, uh.

• 1:19:06Caleb Hammer?

  One hundred forty-two dollars a month. You guys are under.

• 1:19:08Speaker 03

  So are you factoring in the seven hundred that I put into SoFi every month into that? Cause I make thirty-one hundred. I bring home thirty-one hundred twice a month, sometimes three. It's like, so I get twenty-six checks a year. So I always bring home sixty-two hundred and he brings home, I guess, yeah, no, you're right. I'm sorry. No, you're correct. That that math works because he brings home four. So that's ten-four.

• 1:19:32Caleb Hammer?

  A reminder, we are saying twelve hundred aside for taxes. It's gonna be taxes.

• 1:19:37Speaker 03

  Yeah, I know, that's true.

• 1:19:38Caleb Hammer?

  So we're behind.

• 1:19:39Speaker 03

  I mean, I can always work a PR job.

• 1:19:42Caleb Hammer?

  You can.

• 1:19:42Speaker 03

  On the weekends.

• 1:19:43Caleb Hammer?

  But we have a potential solution.

• 1:19:47Caleb Hammer?

  I don't necessarily like this. You're gonna, if you do this, you're gonna do it the exact, perfect. It's not a good. You guys willing to sell your house?

• 1:19:57Speaker 03

  I mean, we would be up open for it if it was like a way for us to be debt-free.

• 1:20:02Caleb Hammer?

  I don't necessarily want you guys to, but here's the thing.

• 1:20:04Speaker 03

  We're on the like, we've talked about it, like, should we sell our house and pay off all of our debt? And then rent for a little while, but then we'll never see a two-point-five percent APR again.

• 1:20:12Caleb Hammer?

  I know. That's the hard part. That sucks. One thing I'm potentially considering, it is a movement of debt, but it potentially helps. If you close all your cards, if, I don't know if you'll qualify. I was thinking maybe home, a home equity.

• 1:20:25Speaker 03

  We've talked about that.

• 1:20:26Caleb Hammer?

  I know, but again, it's just like the balance transfer. You still gotta pay it off, but it is gonna help your minimum payment go down. Plus it's gonna help your interest go down. The only way I'm gonna allow you to do it if it's, if you close all your credit cards.

• 1:20:35Speaker 03

  Yeah, I know.

• 1:20:36Caleb Hammer?

  And you follow the budget. It's the only way to do it. If you sell the house, you will have enough money in the equity position if your valuation is correct to pay off your debt and still put a down payment down on the house. Your rate's gonna be closer to about six percent.

• 1:20:47Speaker 03

  Yeah.

• 1:20:47Caleb Hammer?

  That sucks. Six percent is still historically okay.

• 1:20:50Speaker 03

  If we did that, we would probably move to a cheaper area because Texas is expensive, like.

• 1:20:55Caleb Hammer?

  Well, you guys would move?

• 1:20:56Speaker 03

  I don't know, maybe. I can back work.

• 1:20:59Caleb Hammer?

  That sounds like more like her saying that and.

• 1:21:01Speaker 03

  Yeah, it is totally me saying that. It's not him. His whole family's here. My family doesn't live here at all.

• 1:21:06Caleb Hammer?

  Okay, you guys want to learn.

• 1:21:09Speaker 03

  Maybe we're not. I don't know. I thought we were, but maybe we're not. You're right.

• 1:21:13Caleb Hammer?

  Or you can go get another job. Again, go bring in an extra thousand hours net a month and this takes a hundred and, what was it? A hundred and eleven months to pay off? Yes, is that?

• 1:21:25Caleb Hammer?

  It takes 10 years to pay off. I don't know. I think you guys have gotten yourself into such a hole. You've up so much that we either consolidate it through an equity thing, which I only am willing to do if you guys fully follow the budget, demonstrate that you have the behavior to do this, that you aggressively pay that off. Aggressively pay that off. Cause I don't like it if you guys still have your debt, still have access to it. And then you say you're spending. If you do it, you're just moving, you're making it worse. Or sell the house. I don't necessarily, if this is your guys' dream house, I don't want you to get rid of it.

• 1:21:55Speaker 03

  It's not our dream house, but I also don't know where we would live.

• 1:21:59Caleb Hammer?

  Well, you'll still have a chunky down payment.

• 1:22:01Speaker 03

  That's true.

• 1:22:02Caleb Hammer?

  You'll have a chunky down payment. You'll get a house at a more expensive price. It absolutely will feel like that. But listen, you're, but you're wiping your debt.

• 1:22:09Speaker 03

  Would it be smarter to rent until?

• 1:22:11Caleb Hammer?

  Mind you, your minimum monthly debt payments outside of your mortgage is more than your mortgage payment. And you're wiping that.

• 1:22:18Speaker 04

  Yeah.

• 1:22:19Speaker 03

  We've talked about it. Like we've, we weren't.

• 1:22:22Caleb Hammer?

  I don't want you to.

• 1:22:23Speaker 03

  We weren't sure.

• 1:22:23Caleb Hammer?

  But that's what you've put yourself in the situation where you're almost needing to, or you can take, or you can go make more money, work more in general, or get a better job, or you're gonna pick up a lot more nursing and a second nursing place or something. I don't.

• 1:22:37Speaker 03

  Yeah, I can do it.

• 1:22:38Caleb Hammer?

  If you guys do that and bring in actually $3,000 a month, then we're talking about paying all this off in like three years. But you guys have to do that for three years. You can do that and keep the house if you guys want to. And you still need to go to fully fund a mortgage fund. Then you need to catch up on retirement, minimum 25% a month for both of you. Every time.

• 1:22:58Caleb Hammer?

  I would shortcut this because listen, people have a lot of emotional attachments to homes. For me, a home is a home is a home is a home. I don't really care. So I'd sell it in a heartbeat. But I understand. Yeah, but you might, the kids might, you know, there's a whole family thing here. If I sell a home, it's just me, you know, and my dogs, they don't care. They'll pee on any yard. So this is. There's more going here, but if you guys are able to, you really don't care, that might be the best option as a shortcut, you know, and we still get a substantial equity position in a home, but we get a higher rate and we're buying a more expensive home because home prices have gone up.

• 1:23:29Speaker 03

  Yeah.

• 1:23:30Caleb Hammer?

  But.

• 1:23:33Caleb Hammer?

  That could be a way and it's still even if your mortgage payments an extra thousand dollars a month, you're still saving yourself $2,594 in minimum monthly payments on debts, including IRS debt. Okay?

• 1:23:43Speaker 03

  Yeah, that one's a big one.

• 1:23:45Caleb Hammer?

  So those are the options. That's kind of how I'd go. That's what I'd personally do. Again, consider that as a big family thing though, because that's a big family impact. So have big conversations around that. If not, go bring an extra 3,000 dollars a month. I know you guys can combined, but it's also more work and it's also more childcare. It's also, you know, there's things to think about, but there are options.

• 1:24:05Speaker 03

  Seasonal gigs are coming up in nursing too. It's like a work weekend.

• 1:24:08Caleb Hammer?

  Exactly. There are options, but they suck and I'd personally rather do the house, but it is up to you guys. And if you do the equity, you're just moving it. Mind you again, you're not actually making any progress. I don't want you to think you are. But you need to close all debt and you need to follow the budget tightly. Okay?

• 1:24:21Speaker 03

  What are the interest rates on the home equity lines of credit right now?

• 1:24:24Caleb Hammer?

  I've seen some 6 to 7%, but I don't know what you guys qualify for because your credit score is so that's why I still like to sell.

• 1:24:30Speaker 03

  Because our debt to income is really high.

• 1:24:32Caleb Hammer?

  Really is. And your credit age is pretty low because you just opened up a bunch of credit cards. Okay. Spending in a budget. You ever spent zero out of 10 debt? You have IRS debt, zero out of 10 emergency fund? That's tax money for next year, not an emergency fund. So zero out of 10 retirement. There is retirement dramatically behind for 40. 40 with the income you make, we would want to see you at

• 1:24:53Speaker 03

  At least 700.

• 1:24:54Caleb Hammer?

  Clop.

• 1:24:57Caleb Hammer?

  For your income, we'd probably want you two to three, two to three to four. 100. Okay. So

• 1:25:04Speaker 03

  100 like 10 years ago.

• 1:25:04Caleb Hammer?

  No, your retirement score is really bad. Two out of 10. Real estate, this is where it's good. This is what's good. We have a great rate. This is, this is what's going to save you. I mean, it's an eight out of 10. It's fantastic. It's absolutely wonderful. Okay. It's going to be a hammer financial score, two out of 10. Guys, make sure to join us for the post show. We're going to try to convince her to call the mom and see if she'll finally confess how bad this whole situation is. We'll bring in the producers. We have a lot more to talk about that the producers know because they know your entire lives. And make sure to check out the debt, investing and budgeting course where you can really change your life like 10, over 10,000 people have. It's all bundled together, cheapest price ever, 25% off. I'll see you guys in the post show. Please tell me what you just told me. Into the mic, into the mic, into the mic.

• 1:25:47Speaker 03

  We had an accident on our way here.

• 1:25:49Speaker 05

  On the way here, yes.

• 1:25:50Caleb Hammer?

  That's fucking insane.

• 1:25:52Speaker 05

  Which really sucked because when I went to the concert in October 30th.

• 1:25:55Caleb Hammer?

  Hold on, I don't get you, but you just got in a car crash.

• 1:25:57Speaker 05

  Yeah.

• 1:25:57Caleb Hammer?

  I do not care about a concert. You got in a car crash.

• 1:26:00Speaker 06

  Dude, okay, let me tell this.

• 1:26:01Speaker 05

  Okay.

• 1:26:02Speaker 06

  To watch the financial audit post-show, click the join button below.

• 1:26:05Caleb Hammer?

  Alright guys, I get it. You need more financial audit. So, we've decided now, in our membership below, you get two exclusive, see nowhere else, uncensored financial audits. Every month. Again, 384 came in from your job. How much do you think you spent?

• 1:26:22Speaker 05

  How much did I make? 384?

• 1:26:24Caleb Hammer?

  You don't think you overspent?

• 1:26:25Speaker 05

  Oh, I probably, I guess I did, yeah. Seven, maybe? I don't know.

• 1:26:30Caleb Hammer?

  Also, three post-shows a week for every financial audit. You're seeing right here on YouTube. In the post-show, we have an extra 20 minutes for every single episode where we go into more drama. We can't find you on Facebook. Did you block me on Facebook? No, no way. You can join Hammer Pro where you get every financial audit post-show for every episode. Priority replies to comments, custom loyalty badges, and special channel emojis for the comment section. And then there's Hammer Elite if you're wanting more. And that comes with everything from Hammer Pro, extra behind-the-scenes content.

• 1:26:59Speaker 06

  Jake just got a delivery of a sword.

• 1:27:06Caleb Hammer?

  A member stream every single Tuesday with myself and the crew. He could break up with her today. He's already decided to five weeks ago. He could break up with her today. Why is he not?

• 1:27:15Speaker 06

  Because her birthday is coming up.

• 1:27:16Speaker 05

  But when though?

• 1:27:17Speaker 06

  Two weeks, two weeks.

• 1:27:18Caleb Hammer?

  Thanksgiving's after that, a couple of weeks after her birthday, then Christmas is only a couple of weeks, then New Year's, and then MLK Day.

• 1:27:27Speaker 06

  Wonderful human. Guys, she's just not. Wonderful, wonderful human. I do love her. She is a wonderful person. I like, like her. No, she's a great person. Here's the thing. Great person, it's just she.

• 1:27:42Speaker 06

  We know she's a good person. Like wonderful, wonderful human. But she's just so into me and she always wants to hang. No, wait a minute, wait a minute.

• 1:27:52Caleb Hammer?

  Random but frequent private streams with me throughout every week. Monthly member raffles for exclusive merch and two exclusive, uncensored, ad-free financial audits every month. And then for those who only go top level, there's Hammer VIP, which comes with everything from Hammer Elite and Hammer Pro, plus a thank you in the pinned comment of every public financial audit episode, be an exclusive beta tester on our newest products we're working on, and a custom thank you letter from me personally mailed to you after a year. Members help us maintain stability during the ups and downs of ad rates, and this helps us invest in making the main show even better with every passing month.

• 1:28:29Speaker 06

  Join the membership, guys. Even Dave's a part of it.