Frustrated Incel Desperate To Buy Women | 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.

• 0:00Caleb Hammer?

  To watch episodes of Financial Audit a week earlier, check us out on YouTube. Tinder, paying for Tinder.

• 0:06Speaker 01

  That was when I was on vacation in Miami. Did not work.

• 0:08Caleb Hammer?

  You're trying to [BLEEP].

• 0:09Speaker 01

  Yeah.

• 0:10Caleb Hammer?

  You're not even paying your [BLEEP] debt on time.

• 0:12Speaker 01

  When in Rome. I like going to like very high end bars. I like high end things.

• 0:16Caleb Hammer?

  What high end [BLEEP]?

• 0:18Speaker 01

  Well, that would be [BLEEP] nice, right?

• 0:20Caleb Hammer?

  But it doesn't [BLEEP] matter. Why help all this if you're not paying off all costs? You shouldn't have any debt. You shouldn't be the The dumbest motherfucker in the world and

• 0:27Speaker 01

  Hi, my name is Wesley. I'm 22 years old, from San Antonio, Texas, and this is Financial Audit.

• 0:34Caleb Hammer?

  You look like you're in the military. You in the military?

• 0:36Speaker 01

  No.

• 0:36Caleb Hammer?

  I feel like I see just like an AR 15 written all over you. Okay, what do you do for a living? Thanks for coming from San Antonio, by the way.

• 0:45Speaker 01

  Yeah, uh, thanks for having me. I am a consultant, uh, with kind of online media.

• 0:51Caleb Hammer?

  Okay, uh, what do you make with that?

• 0:53Speaker 01

  Um, yearly around 120, but it's variable.

• 0:56Caleb Hammer?

  Killer.

• 0:57Speaker 01

  It's variable.

• 0:58Caleb Hammer?

  Oh, but are you saying that's average?

• 1:00Speaker 01

  Average, yep.

• 1:01Caleb Hammer?

  That's a delicious average. 120,000 hours a year. That's wonderful. I don't know why it would be in the problems we're into today with 120,000 hours a year. I'll just say that, but that's a classic situation. Lifestyle inflation probably will see. How long have you been doing this job?

• 1:13Speaker 01

  Um, since high school, probably since, uh, I've been 16. Yeah.

• 1:17Caleb Hammer?

  Consulting? What do you do?

• 1:19Speaker 01

  Um, so mainly with like YouTubers and Twitch streamers and businesses.

• 1:22Caleb Hammer?

  What?

• 1:22Speaker 01

  Yep.

• 1:22Caleb Hammer?

  So what would you do for me?

• 1:24Speaker 01

  Okay, so your second channel definitely needs optimization.

• 1:26Caleb Hammer?

  Uh, which one?

• 1:27Speaker 01

  Uh, the one, This Week in Money.

• 1:29Caleb Hammer?

  Okay.

• 1:29Speaker 01

  Um, probably with topic selection and packaging. Um, also, I could almost guarantee that you're not doing anything right now that's going to increase your RPM. Um, so we could maybe talk about that off the podcast and how to get you 30% more revenue with like a 30 second change.

• 1:44Caleb Hammer?

  Why are you consulting in that?

• 1:46Speaker 01

  Uh, why am I consulting?

• 1:47Caleb Hammer?

  What is your?

• 1:49Speaker 01

  But

• 1:50Caleb Hammer?

  I'm just like, why are you the

• 1:53Speaker 01

  Consultant?

• 1:54Caleb Hammer?

  Resource on that?

• 1:56Speaker 01

  Uh, I, I have a decent amount of experience.

• 1:58Caleb Hammer?

  What?

• 1:59Speaker 01

  Um, so I'd like, let's say six years of experience scaling channels. So I work with creators from zero subs. I've helped them get 200,000.

• 2:05Caleb Hammer?

  So you're one of those people that spams emails my inbox and I delete every day.

• 2:08Speaker 01

  No, uh, no, actually I don't do any outreach. People do inbound for me.

• 2:11Caleb Hammer?

  Really? What do you have a big following?

• 2:12Speaker 01

  Uh, somewhat of something like that, something like that, yeah.

• 2:14Caleb Hammer?

  Decently? Okay, okay. Interesting. Hmm. Well, maybe we'll save some of that for the end. I'm curious to see what you think about that. Our RPM is incredible on the second channel, um, but.

• 2:25Speaker 01

  Could be better.

• 2:25Caleb Hammer?

  Probably could be better. I guess it could always be better. Uh, all right, cool. So a hundred twenty thousand dollars a year. How's this variable? So this is per client then I'm assuming.

• 2:33Speaker 01

  Yeah, so, um, it depends. I have commissions and then I also have bonuses. So commissions are from clients that I sign. I get a percentage of that.

• 2:42Caleb Hammer?

  Okay, so this is for a company then?

• 2:43Speaker 01

  Yeah.

• 2:43Caleb Hammer?

  So it's not just you on your own?

• 2:45Speaker 01

  No, it's not me.

• 2:46Caleb Hammer?

  Do they come to the company to get to you or do they come to you?

• 2:48Speaker 01

  They come to me directly.

• 2:49Caleb Hammer?

  Why would you be for a company then? Why not take a hundred percent of the pie?

• 2:52Speaker 01

  It, that's funny that you ask that. I could make more if I was by myself. A hundred percent. If I walked away from my company right now, I could probably be making twenty thousand dollars.

• 2:59Caleb Hammer?

  You're excited. You like, you have Ben Shapiro talk. You're like.

• 3:02Speaker 01

  I, I talk fast.

• 3:03Caleb Hammer?

  Okay.

• 3:03Speaker 01

  Um, yeah, I, I could make more and I've, I've kind of toyed with that in my head. Um, but the thing is I really enjoy working with the people I work with and it's fun, right? Like at the end of the day, like.

• 3:11Caleb Hammer?

  So it's worth the tax?

• 3:13Speaker 01

  Oh, a hundred percent. Yeah.

• 3:14Caleb Hammer?

  How much is that tax?

• 3:15Speaker 01

  Um, I get, let's say, less than fifty percent of the revenue I bring in from clients, um, but it's.

• 3:22Caleb Hammer?

  And that's worth it too?

• 3:23Speaker 01

  Oh, absolutely. Yeah. Because I mean.

• 3:25Caleb Hammer?

  Friendships?

• 3:26Speaker 01

  Yeah, I mean, friends, but it's also experiences, right? So I got flown out to Montreal at one point earlier this year.

• 3:30Caleb Hammer?

  But if you were making two hundred fifty thousand dollars a year, I think you could fly to Montreal.

• 3:34Speaker 01

  Yeah, but it's, it's a little bit more complicated than that. It's fun. There's also a security aspect to it, right? So by working with the company, I get a flat salary, which is nice. And also I get a team I can work with. So like, let's say we have.

• 3:44Caleb Hammer?

  Make less, but you have security.

• 3:46Speaker 01

  Yeah. And in addition to that, like, let's say that I have fifty clients, uh, I don't have enough time in a day to work with fifty clients. But I have people I work with where we can be collaborative on certain projects or I'm like, okay, this client came to me. I can close this deal.

• 3:58Caleb Hammer?

  You're dealing with, because there cannot be enough creators that make enough money to actually afford this. I feel like you're probably getting pretty small creators that are probably not.

• 4:05Speaker 01

  So the average creator I'm working with right now is probably north of five hundred thousand subscribers. Uh, or I work with entrepreneurs and I help them build.

• 4:11Caleb Hammer?

  Yeah, but you can have a lot of subscribers. That doesn't mean you have a lot of revenue necessarily. So I'm very. Interested in.

• 4:18Speaker 01

  They make, they make good revenue. I can, I can promise.

• 4:21Caleb Hammer?

  Then why are they coming to you?

• 4:22Speaker 01

  Because they want to make more revenue. So imagine you pay me a set amount a month, or you pay my company a set amount a month. And then I can help you go from.

• 4:28Caleb Hammer?

  It's a subscription?

• 4:30Speaker 01

  It's a monthly retainer.

• 4:32Caleb Hammer?

  Uh huh.

• 4:33Speaker 01

  But if you pay like, let's say a few thousand dollars and I can get you twice as much as you're making now, it's worth it.

• 4:39Caleb Hammer?

  Okay, so you make good money. You do good work.

• 4:41Speaker 01

  Yes.

• 4:42Caleb Hammer?

  Good. What is going on?

• 4:44Speaker 01

  So.

• 4:44Caleb Hammer?

  Why are we having a conversation? Why are you, why am I consulting you?

• 4:48Speaker 01

  Um, so I'm good at what I do. Uh, I'm good at making money for other people and for myself, but I also love spending money. Um, so it's kind of a bit of an issue, lifestyle inflation, maybe, um, but also like just kind of like practical things where it's like, I'm twenty two and don't have a full frontal lobe developed yet, probably when it comes to spending money.

• 5:05Caleb Hammer?

  A little, what, I mean, you're probably ninety nine, it's not like all of a sudden you hit twenty five and all of a sudden it's like I'm blocked. That's not how it works. People treat it like that. It's not infantilizing yourself. I don't know how to say it. Everyone's correcting me on how I say that word. But it's just like, don't you treat yourself like a baby. You're twenty two. You're fine. You're four years into adulthood. Stop trying to treat yourself like a child. That annoys the like, I know it's not fully developed and you probably have like two percent to go. That doesn't mean it's just like, it's not like taking the pill from that movie with, you know, whatever, where he unlocks his brain limitless. It's not that. So what?

• 5:39Speaker 01

  Um, yeah, so I mean.

• 5:40Caleb Hammer?

  I don't think that's why you're in debt.

• 5:42Speaker 01

  I, I, it's hard to explain, so I don't really know why. I'd imagine it's somewhat lifestyle inflation. I think it's also a big part is like, you know, I was watching a bunch of financial YouTubers when I was younger. They're like, get credit cards, build credit.

• 5:53Caleb Hammer?

  Oh, well, yeah, I mean, that's usually good advice.

• 5:56Speaker 01

  Usually good advice.

• 5:56Caleb Hammer?

  If you do it disciplined.

• 5:58Speaker 01

  Yeah, I was doing it disciplined, but then it kind of got crazy because I started making.

• 6:02Caleb Hammer?

  What's was? Because you're only twenty two.

• 6:04Speaker 01

  Um, probably.

• 6:05Caleb Hammer?

  It's not like you had a ton of time to do this.

• 6:07Speaker 01

  Yeah, um, probably like when I was like twenty one, maybe last.

• 6:11Caleb Hammer?

  So a year ago.

• 6:12Speaker 01

  Yeah, a year ago, it got really bad.

• 6:14Caleb Hammer?

  Okay.

• 6:15Speaker 01

  Yeah. So.

• 6:16Caleb Hammer?

  Okay.

• 6:17Speaker 01

  I guess we can like, when we dive into it, maybe.

• 6:19Caleb Hammer?

  So you're blaming it on watching those financial YouTubers?

• 6:21Speaker 01

  No, I wouldn't say that, but I do think like having unlike federated access to like all of these like lines of credit and like.

• 6:27Caleb Hammer?

  Why aren't you managing it correctly? Why'd you manage it correctly for three years and then not?

• 6:31Speaker 01

  I did manage it correctly, um, but like, you know, I have some, I have some expensive tastes and hobbies.

• 6:36Caleb Hammer?

  You're okay, your neck's a little red.

• 6:37Speaker 01

  Right here?

• 6:38Caleb Hammer?

  Yeah.

• 6:38Speaker 01

  Yeah. So I don't know. I was on vacation in like Miami and like I got this. Don't know what's going on there.

• 6:43Caleb Hammer?

  We're all getting grenades in here or something?

• 6:44Speaker 01

  I hope not.

• 6:45Caleb Hammer?

  Well. Okay.

• 6:48Speaker 01

  I think you'll be fine. Just don't touch the neck.

• 6:50Caleb Hammer?

  All right.

• 6:51Speaker 01

  No.

• 6:52Caleb Hammer?

  We're not neck touching. All right. So, okay. Again, why were you so disciplined? And then we went to undisciplined?

• 6:59Speaker 01

  Yeah. So I had like all these lines of credit and then I have like relatively expensive hobbies. So it was one of those things where I was making a decent amount of money. Where I was like, oh, I'm basically the way I kind of rationalized it was I'm borrowing from my future self where it's like, I can maybe buy something I can't technically afford. But by next month I'll pay it off.

• 7:16Caleb Hammer?

  Okay. Which obviously becomes just an unsustainable path. Because next month you want something and then it just compounds on that, or you pay for that instead of paying off what you already got.

• 7:26Speaker 01

  Yep. That's exactly pretty much.

• 7:28Caleb Hammer?

  Dude, you seem relatively reasonable.

• 7:31Speaker 01

  I'm relatively reasonable, but I have some dumb purchases.

• 7:33Caleb Hammer?

  Understand why this is an issue. You know this. Sometimes I deal with these situations. You sound okay. You sound like you know what's happening in your life. Then why the fuck is it happening? Why not stop? I have a budget. Why not be an adult?

• 7:46Speaker 01

  It's difficult, right? Cause like I'm, I'm so young and I'm making a decent amount.

• 7:49Caleb Hammer?

  Who cares?

• 7:50Speaker 01

  And I can just spend it on like anything.

• 7:52Caleb Hammer?

  You can spend it on anything at any age.

• 7:54Speaker 01

  Yeah.

• 7:55Caleb Hammer?

  Money coming in, you go, again, that's not something that unlocks 25 years old. Oh, I'm not spending my money anymore. I'm 25. Well, that's a behavior throughout life. Come on, the vast majority of the people that come on the show, you know, maybe they're in their thirties or forties or fifties when they come on. And they're still spending the dumb money. Don't think that just because you're young, that makes it the reason why if you, if the reason, if you're doing it now, likely your behavior is going to continue. It's not just because you're young.

• 8:20Speaker 01

  That's what I'm hoping we can solve right now on the show.

• 8:22Caleb Hammer?

  Sure, but why haven't you? Cause you know what you do.

• 8:25Speaker 01

  I don't know. I don't know. I don't know.

• 8:26Caleb Hammer?

  Reasonably.

• 8:27Speaker 01

  I, I, I don't know why I keep doing it. Like I probably should pay off all my stuff and I should save, uh, but I don't, uh, I just spend it on dumb shit. Like I've spent so much money this week alone.

• 8:36Caleb Hammer?

  Yeah, but you get that. So why not make a budget, see what the dumb shit was and then not do it?

• 8:41Speaker 01

  Because I just know I'm gonna make more money next month or the same.

• 8:44Caleb Hammer?

  Okay, okay. How much you think came in from this most recent month?

• 8:49Speaker 01

  This most recent, this most recent month?

• 8:51Caleb Hammer?

  Yep.

• 8:51Speaker 01

  Came in.

• 8:52Caleb Hammer?

  We had payroll and then likely commission.

• 8:54Speaker 01

  Yep.

• 8:55Caleb Hammer?

  So how much?

• 8:56Speaker 01

  Probably anywhere between eighty-five hundred and ten-five, I think.

• 9:01Caleb Hammer?

  Uh, closer to about ten.

• 9:04Speaker 01

  Okay.

• 9:05Caleb Hammer?

  How much you think you spent?

• 9:06Speaker 01

  Oh, uh, how much I spent? I'm gonna say seventy-eight.

• 9:13Caleb Hammer?

  Eighty-seven. Oh, unlike most people that come on, you didn't spend at what you make. You didn't spend more than what you made. You spent less than you made. Yet, on here are a lot of credit card balance increases, but then a couple of credit cards that were also paid off. So I'm confused. There's like a cou- a couple cards. I think, if I'm not mistaken, two cards in here that look like maybe managed correctly.

• 9:37Speaker 01

  Yep.

• 9:38Caleb Hammer?

  And then, three cards that are stupid. So why? I don't get it. Why be okay on some and then ruin the rest? It really doesn't work.

• 9:49Speaker 01

  Yeah, so, like, for me, I know, like, I gotta pay it off. I can't, like, it's maybe, I don't know. So, the way I look at it is like, if I can't pay it off in full, like, at once, it's just like, I'll just defer it later. Or I'll make like progress to it.

• 10:02Caleb Hammer?

  Interest.

• 10:03Speaker 01

  Yes, I, I know, but that's just how I do it.

• 10:06Caleb Hammer?

  Again, here's just another thing you know, so.

• 10:09Speaker 01

  Yeah, I, I think it's just, you know, I like to keep, like, let's say, kind of those two cards, like, free. And then, like, I'll make payments for the other ones, but then maybe I'll use them for certain things, because I have, like, let's say, like, certain, like, benefits, right? Like, in terms of percent back on, like, flights, etc., food. Um, but yeah, it's, it's one of those things where it's like, I basically really fucked up with, like, the Apple card. Um, and technically the Chase card, where it's like, I spent all this money, and I'll pay it off later. And now it's like, that's just become like the default. It's like, I'll pay it off later. And I just keep pushing it back. And I just pay off, like, the minimum, and then some, and then I accrue more.

• 10:39Caleb Hammer?

  But you know, this, guys, this is, this is what's, you know, you're talking logically, you know your situation. Most people that come on the show don't know their situation, and I go through and explain how bad it is. Make sure I give them a level of like freak out that well defines how bad it is because they don't think it's that bad. You just explained your situation. You know where you are. And you're not an idiot. You know what it takes to get out of it. So I really don't understand why the we're talking and you're not just being an adult. So I really don't. And you're probably gonna say, well, because I like spending, I can't stop and I can't figure it out. But you can, because you've already explained it multiple times. So I'm more confused than you.

• 11:19Speaker 01

  I think the biggest issue, maybe, maybe I'm wrong, is I don't know how bad it can get, right? And like right now.

• 11:24Caleb Hammer?

  How bad it can get?

• 11:25Speaker 01

  Yeah, so like right now, like this is like. I'm not sustainable. Um, and it's just like, I, I really actually don't know where the money's going. Um, I have ideas of like, okay, like, oh yeah, I bought a TV, right? Like, that was like a grand, so I know where that went. But it's like, why the did I do that? And it's also like.

• 11:41Caleb Hammer?

  Why don't you budgets? How about that? Why don't you budgets?

• 11:44Speaker 01

  Uh, okay, why I don't budget is because I, I don't, I, I, I can say I don't know. But why I don't budget is I know I'm gonna get money coming in. So as long as like, I keep getting money coming in, I can just keep like constantly.

• 11:55Caleb Hammer?

  Your entire life is to kick the can down the road. That's, that's just what you are.

• 11:59Speaker 01

  Yup. It does, it does seem like that. I like it not to be that anymore, because I like to get money in my bank account and not have it disappear in front of me. Over the course of a month. Like I got paid like, uh, some of all the decent amount of money.

• 12:11Caleb Hammer?

  There it is again, guys. There it is again. This is, I, I don't know what I'm doing with right now. This is. You want that.

• 12:19Speaker 01

  I would, but I, for some reason, I can't get it.

• 12:21Caleb Hammer?

  Do it. Not for some reason, you know, if you budgeted, you would. What do you mean for some reason? Here's some reason, you know, the reason. You know your solution, but you're not. And then you immediately try to blame. Well, my frontal lobe's not fully developed.

• 12:36Speaker 01

  Yeah, I, I, I think it's just habitual at this point. Um, which is why I like, maybe I don't know how like the best way to go about paying things off is, and that's kind of where I'm at. It also could be a situation where like, let's say, I know I'm gonna have money coming in, but like, what the happens when I don't? Um, so yeah, I, that's, that's kind of where I'm at. And, you know, I, I know I spend money on like things that I shouldn't, but like, why? Um, so that's, that's kind of where, where things are.

• 12:59Caleb Hammer?

  Okay. Chaperone, if you're seeing this episode because your cousin's on it right now, I promise I'm not that mean. I want to meet you someday.

• 13:07Speaker 01

  I'm your biggest fan. Please, please avoid him.

• 13:09Caleb Hammer?

  Why? Hey, why?

• 13:12Speaker 01

  You seem lovely.

• 13:13Caleb Hammer?

  Your sister's, your, what? Your cousin's a chapel. He doesn't want me to meet you, but I want to meet you. Don't listen to him. He's a someone who knows his finances, but yeah, it's still stupid with them for some reason. It doesn't really make any sense. I'm a little confused. Where do you think you are in the world of finances? Zero to 10, zero being the absolute worst, 10 being the absolute best?

• 13:32Speaker 01

  Probably like a two or three.

• 13:34Caleb Hammer?

  Okay.

• 13:35Speaker 01

  Yep.

• 13:35Caleb Hammer?

  Okay. If you want your hammer financial score, it's free. Link in the description below. If you want to, if you want to come on the show, come on the show. Halohammer.com/apply. We'd be happy to see everyone's application and the application's been much more streamlined and super easy. So just check it out and we'll have you down in Austin, Texas. I want to give you free money right now. I partnered with different resources that will literally give you hundreds of dollars the moment you sign up for them. Check out my investing app of choice, Mu Mu, where they give you up to 15 free stocks and 8.1% interest on your uninvested cash when you sign up with my link. Do you want a more traditional savings account? Check out where I keep my emergency fund, SoFi, where they'll give you 4.5% on your money and up to $300. Would you rather have automated investing?

• 14:20Caleb Hammer?

  Sign up for Acorns with my link and you'll get $20 right now instead of the usual $5 you'd get from your friend's referral. You can also sign up for our investing program and get $100 in cash deposited into your Mu Mu account. This is the best way to learn what your investing profile looks like and what investing strategies to use based on that. All of this free money is linked in the resources section of the description below, so don't pass up the free money because I'll punch you. All right. Chase Inc.

• 14:47Speaker 01

  Yep.

• 14:48Caleb Hammer?

  What?

• 14:49Speaker 01

  No, I, we can get into it. It's gonna get, it's gonna get rough, I think.

• 14:53Caleb Hammer?

  So, why?

• 14:55Speaker 01

  Okay, so at one point, I ran my own agency before working at the one I have. Um.

• 15:01Caleb Hammer?

  Okay.

• 15:02Speaker 01

  Okay. So in order to do that, I had to pay editors. I did like a done for you service. Um, and I just accrued a massive balance because I was paying everything on credit. I was getting the chase points and then I used those for flights and things like that.

• 15:13Caleb Hammer?

  No, no, no, sure. But what about the income coming in? Why not pay it off?

• 15:16Speaker 01

  I guess I want to pay off the consumer because this is tied to my business, not my personal, so it makes more sense.

• 15:20Caleb Hammer?

  When did you have this? When did you have this agency that you owned?

• 15:23Speaker 01

  Uh, last year.

• 15:26Speaker 01

  Maybe two years.

• 15:27Caleb Hammer?

  How long have you been with this company?

• 15:28Speaker 01

  This company, I've been with this company that I work with now for.

• 15:31Caleb Hammer?

  How much were you making at your agency?

• 15:33Speaker 01

  Around the same, maybe a little bit less, less.

• 15:36Caleb Hammer?

  And then how much are you spending?

• 15:38Speaker 01

  Uh, probably more.

• 15:39Caleb Hammer?

  You said you could make double what you're making now if you weren't working for this current agency. But is that true? Because when you did this on your own, you weren't.

• 15:44Speaker 01

  So different offer. When I did it on my own, I had a done for you service. So I was doing everything from like all, all processes. So I had editors, I had thumbnail designers, et cetera. So I had to pay those guys and those guys are relatively expensive, which eats into kind of like my income. So like I was making probably more, but I was taking home less. So the company was making more in revenue, but not in terms of profit.

• 16:04Caleb Hammer?

  Okay.

• 16:04Speaker 01

  So I make more now for sure. Like my take home was more.

• 16:07Caleb Hammer?

  You had consumer debt at that time?

• 16:09Speaker 01

  Um, no, I didn't.

• 16:10Caleb Hammer?

  Then this doesn't make any sense because I just said the money that you bring in from that company, after you paid past on your employees that were already doing things or whatever you were paying this on. You said you put the business expenses essentially on this, but the money that comes in, why didn't you pay off the card then? You said, well, because I'm prioritizing consumer debt. No, you're not. I'm talking about back then, back then you had the money coming in.

• 16:29Speaker 01

  Yes, so I did. Here's what happened. Um, the way I had it structured is in order to get certain editors and certain things, what I had to do is I had to get them from other people. They were working with other, let's say creators and agencies. And I needed them on my own. So what I did is I offered them more money guaranteed, right? So I'd be like, hey, I will pay for you three months, even if you have no work. If I can't get you any work, I'll pay that. Yes.

• 16:46Caleb Hammer?

  Why would you do this?

• 16:47Speaker 01

  Because I needed the talent and at that time I had some really good talent. And then what ended up happening is unfortunately things fell apart with one of my clients. That client had referred me three or four clients himself. So really, really useful in that case, but because things fell through with that client and all of his friends.

• 17:02Caleb Hammer?

  You put yourself in unsustainable risky situation for no reason.

• 17:04Speaker 01

  All of his friends left with him and I still had to pay all these editors.

• 17:08Caleb Hammer?

  The only time you ever do something like that is if you at least have a year emergency fund to fund the business. Cause you can't, it can't be a month to month thing. I mean, it can be, it's just incredibly risky. And then we say, it happens when that risk happens.

• 17:18Speaker 01

  Yeah.

• 17:18Caleb Hammer?

  And your risk happened.

• 17:20Speaker 01

  Yeah.

• 17:20Caleb Hammer?

  Revenue went away and you owed the bills, but you had no revenue. You only, you only had that one client?

• 17:25Speaker 01

  No. So that one client referred me three or four of his friends.

• 17:27Caleb Hammer?

  Yeah. So you only had his little package, his group.

• 17:29Speaker 01

  Yes. So.

• 17:30Caleb Hammer?

  Why? Why didn't you have anyone else?

• 17:31Speaker 01

  So I did. I had financial guys that were like getting into YouTube and gamers. The issue was the gamers is like, they were paying like $500 a month, like, but that was like really like low lift. It was very easy for me to do and that was like essentially pocket change. It was definitely not enough to cover like.

• 17:45Caleb Hammer?

  Okay. How much were you paying them?

• 17:47Speaker 01

  Uh, the editors?

• 17:48Caleb Hammer?

  Yeah.

• 17:48Speaker 01

  Yeah. The editors are getting paid roughly around $3,000 a month.

• 17:51Caleb Hammer?

  Okay. Gosh, I wish mine did. That sounds

• 17:55Speaker 01

  Overseas talent.

• 17:55Caleb Hammer?

  Nice.

• 17:56Speaker 01

  But overseas drawback.

• 17:57Caleb Hammer?

  Okay. Yes. Yeah, absolutely. But how many?

• 18:01Speaker 01

  So I had two. So that was like roughly $6,000 a month. And then I had 2,000 little designers and those were about $1,500, $1,500 a month apiece. Um, but I would kind of alternate those. Those guys weren't on the

• 18:10Caleb Hammer?

  You couldn't find a way to get 8,000 hours a month with your business that you said was making just as much as your current job?

• 18:16Speaker 01

  Yeah. So I, I was, but once all those guys left.

• 18:18Caleb Hammer?

  No, I know. But why weren't you like you scrambled to replace at that point?

• 18:22Speaker 01

  Yes, I did.

• 18:22Caleb Hammer?

  Now, even if that leaves you to a month of badness where you put it on card. Okay.

• 18:27Speaker 01

  So the main issue is when he left, like I was really targeting on those guys. So they were ecommerce guys, not dropshipping, but like high leverage ecommerce guys with like big brands who wanted to get into the YouTube space. It basically became like very unstable for me to reach out to those individuals. So if I worked with like XYZ so and so, they could ask so and so, um, and then so and so would be like, oh, like this guy Wesley up.

• 18:49Caleb Hammer?

  Did you?

• 18:50Speaker 01

  I, okay, I did.

• 18:51Caleb Hammer?

  That's why they left because you did bad business.

• 18:53Speaker 01

  I did because the editors I hired did fail through. That's my fault.

• 18:56Caleb Hammer?

  Why would you have those? Why would you want to be keeping those editors running?

• 19:00Speaker 01

  Because it was not an issue up until it was an issue one time. And that one time everything. It was like, it was like a really bad.

• 19:08Caleb Hammer?

  Okay.

• 19:09Speaker 01

  Like two weeks late, like

• 19:10Caleb Hammer?

  So that had you put money on this card?

• 19:12Speaker 01

  Yeah. So I, I would pay them.

• 19:13Caleb Hammer?

  Is that when the money? Is that when the business went under and then you went to your job?

• 19:16Speaker 01

  Um, so there was like a three or four month period of time where I basically had to live on credit cards.

• 19:20Caleb Hammer?

  A lot.

• 19:21Speaker 01

  Um, unfortunately, just because I had no savings because I, I was running the business. I was like spending everything I made.

• 19:26Caleb Hammer?

  Okay. My question then would be if this is a card we want to pay off, why are we possibly purchasing $293.98?

• 19:34Speaker 01

  Um, that is probably some stuff that is related to what I do now that I just put on.

• 19:39Caleb Hammer?

  But why? This is a card that's accruing a hundred dollars in interest plus fees on a monthly basis.

• 19:45Speaker 01

  Oh, I didn't know it was accruing fees. I just knew it would be like accruing interest. I had no

• 19:49Caleb Hammer?

  Why would you be okay with the accruing interest part anyway? Why would you want like a 30% debt on the things you purchase of your business? The credit card points are probably like one, two, three, four, five percent max.

• 19:58Speaker 01

  Yeah.

• 19:58Caleb Hammer?

  You're not getting any benefit from this. So what's the point? You're making enough money paying from your checking account.

• 20:03Speaker 01

  I, I, I should. Uh, it's just one of those things where I prioritize the ones that are personally tied to me. Cause this one's tied to my business. So it's, I, in my head, like probably less detrimental if like I, I fail to pay. I won't fail to pay. I can keep the minimum up, but

• 20:16Caleb Hammer?

  How's your business incorporated?

• 20:18Speaker 01

  Um, so I work with a business. It's not my business. It is my boss.

• 20:21Caleb Hammer?

  This is tied to your business or it's tied to their business?

• 20:23Speaker 01

  So this is tied to me personally and my business. I get paid through my business and I pay myself.

• 20:27Caleb Hammer?

  Yeah. What's your business LLC?

• 20:29Speaker 01

  Yes, it's an LLC.

• 20:30Caleb Hammer?

  Okay. Okay.

• 20:33Caleb Hammer?

  But I just don't understand if you're trying to make progress in general, I understand maybe prioritizing the ones that you're defining as consumer debt versus this business that okay, but why put more money on here? That's different. Yeah. It's still different than prioritizing.

• 20:46Speaker 01

  Yeah. So I, I generally use this to like things that are like personal business stuff, right? So like, there's like mastermind.

• 20:51Caleb Hammer?

  Sure. But why put it on a card that's accruing interest?

• 20:56Speaker 01

  I don't know. Uh, that's just how I, I have it rationalized in my head.

• 20:59Caleb Hammer?

  Chapel, I won't yell at you if you contact me.

• 21:04Caleb Hammer?

  It's how you rationalize it in your head, but it's costing your business more money. Why pay a hundred dollar a month fee? Essentially is how we can, no, no, it's how we can look at it.

• 21:13Speaker 01

  Okay, okay.

• 21:13Caleb Hammer?

  Just to have this, just to have this, the benefit of having this. A hundred dollars a month, would you do that for anything else? No, Jim, you'd do like 47 or something. You're gonna do a hundred dollars a month to have access to this.

• 21:25Speaker 01

  Uh, I probably would, depending on like what it is, I would a hundred percent pay like a lot of money per month for certain access things.

• 21:31Caleb Hammer?

  Oh, certain access, certain things. Yes. But something that provides a benefit like this? No. The benefit of this is you're getting what? Two, three, four percent?

• 21:41Speaker 01

  Yeah.

• 21:41Caleb Hammer?

  So no, you wouldn't. Fuck this. For something that gave you 50%, sure, you'd spend 30%.

• 21:48Speaker 01

  That's a good point.

• 21:48Caleb Hammer?

  But this isn't.

• 21:49Speaker 01

  I didn't realize it was like, it was, that's how it was, like spending a hundred dollars.

• 21:53Caleb Hammer?

  Do you not look at your accounts ever? Again, you seem pretty damn reasonable.

• 21:57Speaker 01

  I don't really look at my accounts ever. I just kind of like.

• 22:00Caleb Hammer?

  Why, man?

• 22:01Speaker 01

  Cause I can.

• 22:01Caleb Hammer?

  Why? What does it look like on a monthly basis? Like, I know you explained it, that we kind of have an answer of, uh, because money, I know money's coming in next month, so I can just keep going. But why don't you, why have you never taken the time to just look, even just like look, open the app?

• 22:16Speaker 01

  So, like, I'll open the app and I'll look, I'm like, okay, so like, this is my balance. And I'm like, okay, so if this is my balance, I do like the quick, like napkin math in my head, like I'm getting this much, so like, I'll pay it off, but maybe I can just like, keep going and like recur it.

• 22:26Caleb Hammer?

  Not. So the napkin's not working.

• 22:29Speaker 01

  It works for something.

• 22:29Caleb Hammer?

  You put $500 towards it, but it's only gone down like 150 bucks.

• 22:33Speaker 01

  Yep.

• 22:35Caleb Hammer?

  So it's not working.

• 22:36Speaker 01

  It is.

• 22:37Caleb Hammer?

  Napkin's not.

• 22:38Speaker 01

  Napkin's not napping in.

• 22:39Caleb Hammer?

  No.

• 22:42Caleb Hammer?

  Now, outside of the reason that you have already provided where, you know, money's coming in, so, blah, blah, blah, blah, blah, blah, blah. That's why I don't look. Is there a reason you haven't sat down and made a budget, though? Cause even when you ran your business, did you make a budget for your business?

• 22:58Speaker 01

  I had that.

• 22:59Caleb Hammer?

  Okay, so why not for yourself?

• 23:01Speaker 01

  Um, it's just one of those things where it's like, the way I look at it is like, if I go like more in debt, maybe I'll work harder and make more money, and then I'll just pay everything off. Right? I'll just like force myself to make more money. And by the budget, like, I feel like that won't be that, like, that won't be the case, right? I feel like I won't have that drive to like work harder, cause then it's like, okay, well, if I just pay this every single month, and then I'll pay this off eventually.

• 23:19Caleb Hammer?

  Really? You don't have a drive for wealth? Your only driver is to potentially get out of a bad situation? Your only, you only fear-based, negative reinforcement?

• 23:26Speaker 01

  No.

• 23:26Caleb Hammer?

  You don't have positive reinforcement? Well, positive reinforcement's good as well.

• 23:30Speaker 01

  Yeah.

• 23:30Caleb Hammer?

  I like positive, uh, there's, there's less of a fear around here, I hope.

• 23:34Speaker 01

  I hope.

• 23:35Caleb Hammer?

  Tell me, of being like fired for, but more of like, I, we like to have different bonus structures where people make money if videos perform well, if this happens, if this happens, you know? I like the positive reinforcement and that, you know, seems to have worked pretty well. Well, why scare yourself? You're not building wealth.

• 23:50Speaker 01

  Yep.

• 23:50Caleb Hammer?

  Do I have a retirement account in here? I don't remember seeing one.

• 23:53Speaker 01

  No, I do not.

• 23:53Caleb Hammer?

  So what the fuck are you doing? You're already giving up the best that kid of your life for compound growth. You're not halfway through yet, but the amount of money at your income scale that you could have by the time you're of retirement age would be. Not even that, my retirement age would be substantial, substantial, substantial. I'm gonna open this, I'm gonna open up my investing app, Mu Mu. I like them. Let's just, I'm just gonna, you could put, okay, so.

• 24:24Caleb Hammer?

  Matt, twenty-four thousand dollars, you could put twenty-four thousand dollars if we're putting twenty percent away. You could put twenty-four thousand dollars and in there for at least three months. Their thing when you sign up is you get like eight point five percent on your money, uninvested. You would have that if you were just setting twenty percent aside, but instead, you're spending money on a credit card that is accruing interest that is taking away thirty percent. It doesn't make any sense at all. And then let's put, say we put it in the S and P five hundred and said, it compounds and compounds. Let's just pretend you're a hundred twenty thousand for the rest of the year, or for the rest of your life. Rest of your life forever, right? Okay, so that's twenty-four thousand dollars. We're starting with zero. Zero, but we're putting in twenty thousand, uh, twenty-four thousand dollars a year. Let's call it a more conservative, uh, eight percent.

• 25:10Caleb Hammer?

  Eight percent return in the stock market, because that's the overall stock market, even if S and P is five hundred is more like ten percent.

• 25:16Speaker 01

  Huh? Something like V O O.

• 25:19Caleb Hammer?

  Yeah, it's closer to ten percent, but just overall stock market history. Okay, let's call, let's call it sixty, you're trying to get to sixty, you're twenty-two years old, so you have thirty-eight years. You're doing that every single year. That's compounding, contributing once a year. Almost five and a half million bucks.

• 25:34Speaker 01

  But you're good.

• 25:36Caleb Hammer?

  Yeah, it's pretty good if you're.

• 25:41Caleb Hammer?

  So point, if you're not doing it, every year you put that off. Look, I, I literally just take one year off of that, damn it, why do I have to close apps? Why am I an idiot who closes apps? I'm a piece of shit. I take it from thirty-eight years.

• 25:58Caleb Hammer?

  Down to uh so you went from 5.2 million, 38 years and I take it down a year and you lose almost a half a million dollars.

• 26:06Speaker 01

  What the?

• 26:07Caleb Hammer?

  Sorry, I moved it. Yeah, yeah, yeah, yeah, yeah. Yeah, because this is the time of compound. You have so much more time now between here and retirement to actually fucking compound your money. But you're not. You're not. Because you'd just rather put more money on a card. We have the Investors Kitchen.

• 26:26Speaker 01

  Yep.

• 26:28Caleb Hammer?

  That's necessary for your business?

• 26:29Speaker 01

  Yes, I would say so.

• 26:30Caleb Hammer?

  What? What is it?

• 26:31Speaker 01

  So it is a mastermind group uh with like kind of like

• 26:34Caleb Hammer?

  Oh, for fuck's sake, you're the mastermind. You're so is this an endless circle jerk of masterminds? Everyone subscribe to the next mastermind?

• 26:40Speaker 01

  Uh, no. So this is

• 26:42Caleb Hammer?

  People subscribe to you, you subscribe to them. They're just like, ooh.

• 26:45Speaker 01

  Not, not really. Less, less jerking hand motions, uh, more handshake.

• 26:49Caleb Hammer?

  Doubt that.

• 26:50Speaker 01

  Um, yeah. So this is like a from like a, let's say a contrarian guy in the, in my space. And I find it really useful because he has like a really lot of like deep, deep, deep data that he kind of like

• 26:59Caleb Hammer?

  And you give him a lot of deep, deep, deep money.

• 27:00Speaker 01

  Yeah, I do. Um, because the data is really useful for me. And it also helps because I'm part of his community. I can see what other people

• 27:06Caleb Hammer?

  Why is it your business paying for this then?

• 27:08Speaker 01

  Um, they probably could.

• 27:10Caleb Hammer?

  Ask them.

• 27:11Speaker 01

  I could ask.

• 27:11Caleb Hammer?

  Dude, you're spending money you don't have. That's the thing.

• 27:14Speaker 01

  Bossman. If you see this, can you cover that?

• 27:16Caleb Hammer?

  Huh?

• 27:16Speaker 01

  I'm asking the bossman if you watch this.

• 27:18Caleb Hammer?

  Is he, is he watching?

• 27:19Speaker 01

  Oh, I hope so.

• 27:19Caleb Hammer?

  X.com, you pay 20 bucks a month?

• 27:21Speaker 01

  Yeah. So that's a premium subscription for X.

• 27:23Caleb Hammer?

  That's how much it costs?

• 27:24Speaker 01

  Yeah. It helps boost my like tweets and whatnot.

• 27:26Caleb Hammer?

  I know it does. I just can't believe it's 20 bucks. Loom, isn't it? What's Loom?

• 27:30Speaker 01

  So Loom is I can just press a button and I can record like a meeting. So instead of doing meetings, I can do async. So I can record like, hey, what's up, guys? Can you please do this and this and this and this task? And I send it to them and they do it. Um, and it just, it works way better because I can show visuals.

• 27:42Caleb Hammer?

  Huh? 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.

• 28:24Caleb Hammer?

  And just like over 10,000 people who've already taken our educational programs, you can now take advantage of all three of them bundled together at a 25% discount. I've heard from thousands of people now who've taken these classes and they've literally changed their lives for the better. And finally, you can too at a more affordable price. Head to CalebHammer.com or click the link in the description below. You will not regret this. So you can show visuals?

• 28:50Speaker 01

  Yeah, so basically I'm recording a video for them so they can watch it and have an understanding of what to do and why to do it. So it's useful for feedback.

• 28:56Caleb Hammer?

  You can screen record and email?

• 28:59Speaker 01

  Yeah, that's just paying. This is one button and then I can just-

• 29:01Caleb Hammer?

  Screen record is two buttons.

• 29:03Speaker 01

  Yeah, this is one button and then I just click send and then it sends it to them. And then it also just lives there. It's way more convenient.

• 29:09Caleb Hammer?

  Okay, okay. Tweet hunter?

• 29:12Speaker 01

  Yeah, so that's where I can-

• 29:13Caleb Hammer?

  Fifty bucks a month?

• 29:14Speaker 01

  Yeah, so that's where I can schedule tweets and I can also track certain accounts that make tweets. So I can then-

• 29:19Caleb Hammer?

  Fifty bucks a month though?

• 29:20Speaker 01

  Yeah, but it makes me far more on the backend, probably.

• 29:23Caleb Hammer?

  I hope so, but you're not really paying off this card. So if it was doing, if it was making more, technically you'd be making more progress on this card.

• 29:31Speaker 01

  Making more progress if I can do it.

• 29:32Caleb Hammer?

  You're just putting, no, you're not. There's a couple of cards that you leave kind of at net zero because you spend and then you pay them off. You're not making the progress on the other ones that are existing. Then PayPal, you send out money and then epidemic sounds. Yeah, that makes sense for that. But again, 89 bucks of interest, $620 of interest this year so far, and $51 of fees. What was the fee that happened this year?

• 29:55Speaker 01

  Uh, there's a probably good chance that I might have just completely forgot to pay something.

• 30:00Caleb Hammer?

  Um, why? Why isn't it on auto? For sake, just for safety purposes.

• 30:06Speaker 01

  It's not on auto because I prefer doing it manually.

• 30:10Caleb Hammer?

  Well, it's not working, so it don't give a fuck what you prefer.

• 30:12Speaker 01

  It didn't work one time.

• 30:14Caleb Hammer?

  No, no, no, because again, no, because again, this month was $2.30, but this year's been $51.

• 30:20Speaker 01

  Oh, damn.

• 30:21Caleb Hammer?

  Oh, damn, yeah. So no, yeah, the numbers that I said 30 seconds ago, yeah, they're still true.

• 30:27Speaker 01

  Yeah. Um, I guess I could put it on auto.

• 30:31Caleb Hammer?

  Yeah.

• 30:32Speaker 01

  For the, like, yeah, I could.

• 30:34Caleb Hammer?

  Then do it.

• 30:36Speaker 01

  Do it. I can do it right now. I'll do it after this episode.

• 30:39Caleb Hammer?

  It's like the most basic thing you could do out of the gate, guy. Well, your fee was actually a foreign transaction fee.

• 30:45Speaker 01

  Oh.

• 30:46Caleb Hammer?

  And you might just be racking that stuff constantly.

• 30:49Speaker 01

  I.

• 30:50Caleb Hammer?

  I don't know which one's foreign.

• 30:51Speaker 01

  Oh, that might be investor's kitchen. That's out of France.

• 30:55Caleb Hammer?

  So really just paying me an extra like fifty one bucks a year on that?

• 30:58Speaker 01

  Yeah. It's useful for the knowledge.

• 31:01Caleb Hammer?

  I get it. Uh, there are. I mean, I'm not against, uh, investing in continued knowledge. I mean, I always tell people that course careers is good for like different certifications and you can take free courses and just there's lots of good stuff there. I recommend it. Just like I might recommend this for you, but I get a little nervous when I start seeing a lot of different subscriptions for a lot of different things that are meant to increase knowledge. Because a lot of people over saturate themselves with stuff they'll never use and knowledge they don't use. And not only that, there's also the other alternative. Now I've worked with people like this in every single company where they have all the self-help stuff. They have all this stuff. And they literally always focus on consuming that and learning that instead of ever putting actual action into their life.

• 31:39Speaker 01

  The difference for this is like, this is like a hundred percent related to what I do with YouTube.

• 31:43Caleb Hammer?

  Yeah, I know.

• 31:44Speaker 01

  Incredibly useful and I go through it like consistently.

• 31:47Caleb Hammer?

  Sure. And I could go through like 10,000 YouTube classes, but unless I'm putting the action into it, that's all I'm saying.

• 31:51Speaker 01

  Yeah.

• 31:51Caleb Hammer?

  So I'm not necessarily against that, but when I start seeing all these different ones start combining together, that starts making me a little nervous. That's it. So it's a little nervous, but it's a, well, it's not me saying I'm against that. I am against that putting on that card. Cause you're not paying off that card and it's accruing a hundred dollars in interest a month. Which is a stupid fee to pay. To be able to pay for your different subscriptions.

• 32:15Speaker 01

  Yeah.

• 32:16Caleb Hammer?

  Do you guys pay a hundred dollars a month just so you can pay for subscriptions? Have the privilege of paying for subscriptions?

• 32:22Speaker 01

  I didn't.

• 32:22Caleb Hammer?

  Cause that's what you're doing.

• 32:23Speaker 01

  I didn't realize it was that bad.

• 32:24Caleb Hammer?

  You know, that was like you're doing.

• 32:25Speaker 01

  I thought it was like a, over the course of the year, it was like a hundred dollars. I didn't know it was like, I was paying that.

• 32:29Caleb Hammer?

  Almost six hundred this year so far.

• 32:31Speaker 01

  Wow. Yeah, it's wow. Kind of.

• 32:35Caleb Hammer?

  Yeah, no, it's very.

• 32:36Speaker 01

  That's like a month of rent. At this.

• 32:38Caleb Hammer?

  I would just rather you use like something like a fizz card, man. It's geared for your age anyway, but a debit card that builds builds rewards and builds credit. Again, I don't know. You're just, you're not man, you're not a credit card person. You're not managing it correctly. You're just spending on a card that's going, it just doesn't make any sense. Doesn't make any.

• 32:58Speaker 01

  I do.

• 32:59Caleb Hammer?

  Okay, Apple card. Why do we have an Apple card? Because it is so much money. It is, your balance is insane on this.

• 33:04Speaker 01

  Yeah.

• 33:04Caleb Hammer?

  Sorry, before, before you say it, for the audience sake, you owe 7,107.50 with a minimum, minimum monthly payment of $447. Kill me now. I'm glad you make money because good death.

• 33:19Speaker 01

  Um, yeah, so I got the Apple card because I can't remember. I was watching like a bunch of financial YouTubers. I have like an iPhone. Um, and I was like, they're like, oh, get the Apple card. I'm like, okay, cool. So I did that. And like I had, like, I started off like a, like, let's say like a low balance, maybe like, uh, or amount. Um, and it was like maybe $2,000. Um, and then I never reached it. I always paid off. And then as things like got like more and like more and more, I was able like a $5,000 balance or like a more amount, right? Uh, line of credit and then a $7,000 line of credit, right? So I would end up like buying things like I bought this.

• 33:51Caleb Hammer?

  You are, listen, I'll just cut you off. You are not a credit card person. You cannot be trusted with credit cards because if a balance increasing or the available, uh, spending balance increases means you spend more money, then you are not, not someone that can manage credit cards. Because when I see my ability to spend go up, I'm like, yay. My credit score just went up because my availability of credit just went up and I'm excited. This is great. Someone thinks I'm good. Well, you just use it. You're using it the wrong way. You're using it against every single teaching that you saw on the financial YouTube space when you started watching.

• 34:27Speaker 01

  Yeah.

• 34:28Caleb Hammer?

  I'm guessing Graham was one of them.

• 34:29Speaker 01

  Yep, Graham, Andre.

• 34:30Caleb Hammer?

  And he wouldn't advise what you did. Neither would Andre. I, I haven't really seen his stuff as much, but he wouldn't advise that. He wouldn't advise that. All the others out there and even the audit space like not Ramita Ruin or, uh, or just any of them. I don't know. Dave Ramsey, not a single person would advise. So you talk about, you watch them. How'd you go from watching them? To No to the your available spending going up to you just using that spending.

• 35:00Speaker 01

  Yeah, so uh it's all lifestyle. So like, you know, when I had like, you know,

• 35:04Caleb Hammer?

  I know, but you had the education. So why are you wearing two watches?

• 35:08Speaker 01

  Uh, oh, so.

• 35:10Caleb Hammer?

  Who's ever worn two watches?

• 35:11Speaker 01

  Well, hold on. So I've got this one for my health, much like you do.

• 35:14Caleb Hammer?

  Yeah, but that's stupid. You got the like 500 million dollar one. You didn't need that for your health. You could have got the simple one.

• 35:19Speaker 01

  Uh, I like tech.

• 35:21Caleb Hammer?

  Yeah, there's another excuse. Okay. It's not just for health.

• 35:24Speaker 01

  Yeah. Um, well, it's nice. It's nice to have this.

• 35:26Caleb Hammer?

  Yeah, but you don't need the big one. You don't need the one for hikers.

• 35:29Speaker 01

  Well, yeah, so I had.

• 35:30Caleb Hammer?

  You look like you haven't been outside a day in your life.

• 35:32Speaker 01

  Well, I mean, so do you, but.

• 35:33Caleb Hammer?

  Cause like, that's why I have a normal one.

• 35:35Speaker 01

  Okay, well, I had a normal one and I was going to the gym relatively frequently and then it broke and then I also stopped going to the gym. Um, but I got this one when I was going to the gym relatively frequently. Um, cause I didn't need it to break in the sauna. It has a higher heat rating. Um, and also I can, I can wear it.

• 35:48Caleb Hammer?

  The sauna?

• 35:49Speaker 01

  Yeah, dude, sauna is awesome.

• 35:50Caleb Hammer?

  Oh, you don't need to wear a watch in a damn fun sauna.

• 35:53Speaker 01

  Yeah, but it's just more convenient to wear it. I can track my heart rate and then I can be like, okay.

• 35:57Caleb Hammer?

  Yeah, that's worth going into that. Okay. And then you have to wear the other watch because the other one doesn't tell time.

• 36:01Speaker 01

  Uh, well, this one tells time. I just, I just wear this one because it's more of an art piece for me.

• 36:05Caleb Hammer?

  Uh huh. How much is that?

• 36:06Speaker 01

  So this costs 2,500.

• 36:08Caleb Hammer?

  Oh, good.

• 36:09Speaker 01

  Yeah.

• 36:10Caleb Hammer?

  Which is.

• 36:11Speaker 01

  This is, this is one, this is one of the watches, by the way. I've, I've like $10,000 in watches in total.

• 36:16Caleb Hammer?

  Oh.

• 36:16Speaker 01

  Yeah.

• 36:17Caleb Hammer?

  Are they at least holding their value?

• 36:19Speaker 01

  Yes, most of them hold like roughly like 70 to 60.

• 36:21Caleb Hammer?

  Sell them. Sell them. Why not get our debt? Are you, are, are they gaining, uh, Are 4,605 dollars of them gaining 30% a year?

• 36:31Speaker 01

  No, so I, I've, I've thought about it, but I can't.

• 36:35Caleb Hammer?

  I've thought about it for you right now. Do it.

• 36:36Speaker 01

  Uh, no, uh, because the, the way I look at them is art, right? I'm not using them as like velvet goods or like.

• 36:41Caleb Hammer?

  Yeah, you're 22. I don't give a. I don't give a. Their art? What?

• 36:45Speaker 01

  Yeah, a hundred percent their art. I, I, I, I love them. I love like wearing them. I like their intricacies. Like I know a bunch of that watches.

• 36:51Caleb Hammer?

  That's great. That's great. We all get to do the things we enjoy. This is a hobby. This is, you know, the artist type stuff. We all get to do that when we're in a financially healthy place. You're not. And if that was your investments for the future, I'd say one, that's dumb. That's not any diversification. I think that's an okay fun little extra investment to have. But if that's your entire portfolio, it'd be silly. Right now, by the way, it is your entire portfolio. Fun fact.

• 37:13Speaker 01

  Yeah, I do know that.

• 37:14Caleb Hammer?

  Either way, either way, that is not what someone does when they have 30% interest on their debt.

• 37:19Speaker 01

  Yep. So I'm not gonna sell them because at the time when I bought all these, like they weren't like they I had cash flow. Like it wasn't like debt and I don't want to sell them now. Like I, everyone has like a story to tell. And like, maybe you don't get it because you're not into watches, but like I'm sure some of the members.

• 37:32Caleb Hammer?

  No, I'm into money and your money sucks.

• 37:34Speaker 01

  Yeah, but I'm.

• 37:34Caleb Hammer?

  I'm into improving your life and your life sucks.

• 37:37Speaker 01

  It's actually pretty good outside of the debt. Um.

• 37:39Caleb Hammer?

  Yeah, but it holds you back from so many things that you don't understand yet. You haven't been in the process of trying to buy a house yet. You haven't been in the process of trying to retire yet. You haven't been in the process of trying to leverage your uh financial situation for anything beneficial. You're just bringing in some cash flow.

• 37:52Speaker 01

  Yeah.

• 37:53Caleb Hammer?

  You don't understand the use of wealth or anything yet, or any kind of investment. You don't know what you're talking about.

• 37:59Speaker 01

  Yes. So that is all true. It does suck because I have to move out in January. So I actually do need to move my credit and pay stuff off.

• 38:05Caleb Hammer?

  Well, what do you mean you have to move out from what? You live with your mom?

• 38:07Speaker 01

  No, no.

• 38:08Caleb Hammer?

  Chapel?

• 38:09Speaker 01

  No, that'd be nice though.

• 38:10Caleb Hammer?

  That would be nice.

• 38:11Speaker 01

  Um.

• 38:12Caleb Hammer?

  No, she has a big. No, you're her cousin. We can't say that.

• 38:14Speaker 01

  That's up.

• 38:15Caleb Hammer?

  I'm sorry.

• 38:15Speaker 01

  Nah, you're all, you're all good. You're all good. Um.

• 38:17Caleb Hammer?

  The green outfit though.

• 38:19Speaker 01

  Um, yeah. So I live with some friends in San Antonio. Uh, we rent out a house, um, but that house is being sold. Um, sometime early next year. So they want us out by January 31st, which is cool.

• 38:30Caleb Hammer?

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• 39:13Caleb Hammer?

  By Chris Rattell, BBQ Spice Salmon by David Aiden and Mongolian Beef by Chase Evans. And all these flavors are legit. Each meal is made with top quality ingredients, no artificial junk. And you can heat them up in just two minutes. If you want to make dinner time easier and actually enjoy what's on your plate, go to cookunity.com/caleb50 or hit the link in the description below. Use my code CALEB50 to get 50% off your first order and try these out for yourself. Trust me, it's worth a try. Thanks to Cook Unity for sponsoring today's video. Now, let's jump back into the episode. Okay, so you rented them then?

• 39:51Speaker 01

  Yes.

• 39:51Caleb Hammer?

  What's your rent?

• 39:52Speaker 01

  Rent is $500.

• 39:53Caleb Hammer?

  That's incredible.

• 39:54Speaker 01

  It's unbelievable.

• 39:55Caleb Hammer?

  But you have to move out?

• 39:56Speaker 01

  Yes.

• 39:57Caleb Hammer?

  Are you gonna stay in San Antonio? Because San Antonio is, as far as Texas goes, is the cheaper major city.

• 40:01Speaker 01

  Yeah, it is the cheaper major city. Probably not. I'm looking at, yeah, I'm looking at either Austin.

• 40:06Caleb Hammer?

  Oh, that's not the cheaper major city. That's the expensive major city.

• 40:10Speaker 01

  Or an even expensive city, Miami.

• 40:13Caleb Hammer?

  Oh.

• 40:14Speaker 01

  Yep.

• 40:14Caleb Hammer?

  Okay. Um, any particular reason why?

• 40:18Speaker 01

  Yeah, so I have a lot of clients in Miami, so it's good to have that in-person relationship. And in addition to that, my family is in South Florida, so my mom and dad are an hour away. Um, and long-term, I'd like.

• 40:26Caleb Hammer?

  Why are you here then? Why are you in San Antonio?

• 40:28Speaker 01

  So I moved out here, uh, in 2021 because it was like my roommates were like, hey, like, or my friends at the time were like, hey, we need a, an additional roommate. Would you like to fill that spot? And at the time I was a Twitch screamer, um, and like did the consulting stuff and I was like.

• 40:39Caleb Hammer?

  How much did you ever make off of Twitch? What was your highest earning month?

• 40:41Speaker 01

  My highest earning month was 5,300.

• 40:44Caleb Hammer?

  And people pay you to advise them?

• 40:46Speaker 01

  Um, on YouTube, yes.

• 40:48Caleb Hammer?

  What was your highest earning month on YouTube?

• 40:49Speaker 01

  Uh, personally.

• 40:50Caleb Hammer?

  Don't lie.

• 40:51Speaker 01

  Okay, personally, my highest earning month, not a lot.

• 40:54Caleb Hammer?

  Why would people trust you?

• 40:55Speaker 01

  Because I'm really good at what I do. Um, it's less about, it's less about like, okay, so some people are better at doing things and some people are better at coaching. I'm much better at coaching. I can do it.

• 41:03Caleb Hammer?

  How do you know what to coach that you couldn't do yourself, though?

• 41:06Speaker 01

  Okay, so. Doing it myself, I really hate doing it myself. Uh, I could.

• 41:11Caleb Hammer?

  Okay. Well, that's relatively reasonable. What do you hate about it?

• 41:13Speaker 01

  Um, the like project management. So like, let's say if I do it myself, I have to have like editors, et cetera, things like that. Script writers. So managing all those different pieces, I don't enjoy doing.

• 41:22Caleb Hammer?

  For every YouTube, not, not every YouTube channel has that. Gaming channels don't necessarily need that.

• 41:26Speaker 01

  The gaming channels I work with at the scale I work with do.

• 41:28Caleb Hammer?

  Sure, but you could do something that doesn't require scripting and editor, obviously great to use, but.

• 41:33Speaker 01

  Yeah. Um, at that point comes a time thing. And also there is some level of like investment, you do get a return. So like, if I did do it myself, I do run a channel and makes me a thousand dollars a month in roughly passive income and I have to split that with my partner. Um, but like, yeah, that's like a massively successful channel. Like we average.

• 41:47Caleb Hammer?

  Business partner or like diddle diddle partner?

• 41:50Speaker 01

  No, not diddle diddle partner, business partner.

• 41:51Caleb Hammer?

  Uh, so, so you're not moving in into a place with a significant other?

• 41:56Speaker 01

  No, absolutely.

• 41:57Caleb Hammer?

  So this is going to be all on you?

• 41:58Speaker 01

  Yeah, all on me.

• 41:59Caleb Hammer?

  Okay, okay. Um, I mean, I'm okay with it. I'm like, you know,

• 42:06Caleb Hammer?

  one of the reasons why I felt comfortable making our budgeting class, our investing class and our debt class, they're actually are really good. You get them for free. Fun fact, but.

• 42:13Speaker 01

  Oh, let's go. I love free stuff.

• 42:15Caleb Hammer?

  Yeah, free stuff's good. Um, but the reason why I felt good about doing that is because I've paid off my debt. I love working with experts and gaining their knowledge and bringing their knowledge into our programs. I love budgeting. It's fun to figure out. So I love teaching the skills around that. And I built a very successful investment portfolio and I love teaching about that and like how to determine investing profiles and what to invest in based on that. I like that. But I was successful at that stuff. You weren't successful of that stuff.

• 42:42Speaker 01

  Not necessarily true. I did work on a channel originally. So I was hired as their thumbnail guy. And then, you know, the guy who ran the channel was like, hey, you know, would you like to do like some strategy stuff? I'm like, sure. So I've.

• 42:51Caleb Hammer?

  Some what stuff?

• 42:52Speaker 01

  Some strategy stuff.

• 42:53Caleb Hammer?

  Strategy, okay.

• 42:53Speaker 01

  Yeah. So he was like, hey, like, can you come up with ideas for videos? I did. So I took that channel from 70,000 subscribers to a hundred, like 240, I think.

• 43:00Caleb Hammer?

  Okay. I want to pause on that though, because this sounds like the classic resume thing that we all do. And this is not a bad thing. We all work at a company. The company does something successful. And then on our resume, we said, we brought it from this to that.

• 43:11Speaker 01

  Yeah.

• 43:11Caleb Hammer?

  It's like. Realistically, in your mind, please be honest, how much of that was legitimately 100% you?

• 43:19Speaker 01

  Me, all of it. I have full documentation of everything I've done.

• 43:22Caleb Hammer?

  I'm taking your word on it.

• 43:23Speaker 01

  And then, you know, I've got like a YT Jobs portfolio that has all my work.

• 43:27Caleb Hammer?

  What did you do? What did you do?

• 43:28Speaker 01

  Yeah, so we had a roster of creators. First and foremost, I did ideation. So I figured out what ideas made the most amount of sense. And then I then gave those to the, like those creators. Then I looked at and figured out what thumbnails were working the best in the space with our direct competitors and indirect competitors.

• 43:40Caleb Hammer?

  Why couldn't they do that? That's so simple.

• 43:42Speaker 01

  They don't have time to do it. Like, so that guy that I was working with, like, he's a father, he has two kids, and he's like, running like the other side of the business. So the YouTube thing was like an auxiliary thing.

• 43:51Caleb Hammer?

  Yeah, yeah, yeah. He's more just exporting a job.

• 43:55Speaker 01

  Yes, exactly.

• 43:56Caleb Hammer?

  Which is fine. That's normal.

• 43:57Speaker 01

  And that's where I cut my teeth. And then I ended up working with all the creators that we worked with. So we would hire creators to work at this business. So we'd pay them a flat rate and they would do videos for us, but it would be our video ideas, our packaging. And then eventually, like, you know, that was relatively successful. And then they also learned a lot. So I was also working with those guys as well. So I was working on that business and I worked with like seven creators at one time. So I was basically working with eight creators at once when I was like 17, 18. And you learn a lot really fast.

• 44:21Caleb Hammer?

  Okay. Yeah, we got sidetracked. That's okay. That's seven. That's good. That's good to know, though. That's good to know for the future of your career in general. So this card, in general, because you just got a higher limit to spend on, you just started spending more?

• 44:34Speaker 01

  Yeah. Um, it was one of those things where it was like, you know, you know, flying economy. And I'm like, oh, or like business, right? And it's like, I can fly business now. And then I would. And then I'm like, I probably shouldn't have done that. But I'm like, but I like doing it. I don't do it anymore. I fly economy. I fly the cheapest seats now.

• 44:49Caleb Hammer?

  Okay.

• 44:49Speaker 01

  Okay. I've scaled back on that. I'm also short, so it kind of works out.

• 44:53Caleb Hammer?

  How tall are you?

• 44:54Speaker 01

  Like 5'6". I'm like a manlet.

• 44:56Caleb Hammer?

  No, we call them short kings.

• 44:58Speaker 01

  Oh, short kings. You get it. I respect that.

• 45:01Caleb Hammer?

  Yeah, I have, I have like a Puerto Rican midget that works for me.

• 45:06Speaker 01

  Nice. Vertically challenged.

• 45:09Caleb Hammer?

  Yeah. He's known around here as the Puerto Rican Dump Truck, though. For those of you in the YouTube membership, uh, for our channel members, you know? Okay, so, let's see. Okay, alright, so.

• 45:24Caleb Hammer?

  You say you stopped now you're flying cheapest and no, it wasn't necessarily the flying that got you there, but regardless, that isn't. What this up anyway, because the balance was 6,813.

• 45:36Caleb Hammer?

  Sorry, 6,471. It has gone up by $600. So you scaled back the flying, woo, no more post. Uh, flying clarity on your seat purchase. Great. I'm thrilled. You're still spending increasing it by $600. So.

• 45:56Speaker 01

  Yeah, that's, uh, DoorDash, things like that.

• 45:58Caleb Hammer?

  Oh, for sake, why?

• 46:00Speaker 01

  So I work from home.

• 46:01Caleb Hammer?

  Um, what is Twitch Inter?

• 46:03Speaker 01

  Oh, so that's Twitch. Um, that's like.

• 46:06Caleb Hammer?

  Are you donating?

• 46:07Speaker 01

  No, uh, it's, I'm like sub to a few creators. It's just good for relationships, things like that.

• 46:11Caleb Hammer?

  Yeah, but it's like every, it's, you have one, two, three, four, five, six, seven. And by the way, by the way, little reminder on those seven reminder, your balance is going up, you're not paying them down and you're accruing interest on these in their. Your life and you don't have anything in investments and you're gonna die in poverty. So.

• 46:26Speaker 01

  I hope I don't die in poverty.

• 46:27Caleb Hammer?

  Well, you're on this track because you could make, dude, there are people that make over six figures all you, all their life. And guess what? They still die with absolutely insecure in, uh, retirement because they just blow their money every year. They live the high life. Especially if you go to Miami, I really see you blowing the high life constantly.

• 46:43Speaker 01

  You're gonna love it there.

• 46:44Caleb Hammer?

  Yeah, you're gonna love it and then you won't be able to retire again. So that's not a over exaggeration. It's simplifying your life down really quickly, but that's not an over exaggeration where you couldn't be. So why is paying those Twitch really worth it over that? Now you're staying here for the relationships. Now I'll let you, I'll let you talk in a second. You're saying it's for your relationships. I, I can justify that. But then the money that comes in from those relationships, pay off the card instead of the card going up only.

• 47:10Speaker 01

  Yes, 100% agree. But however, hear me out, I, I pay off the other cards, right? So I have like the Discover card and like, I think the Capital One card.

• 47:18Caleb Hammer?

  Yes, but it doesn't matter. Why help all this if you're not paying off all cards? You shouldn't have any debt. You shouldn't be. It's your bad. You're not a credit card person.

• 47:25Speaker 01

  I, I know.

• 47:26Caleb Hammer?

  It doesn't matter if you're paying off one debt, but you're leaving others.

• 47:29Speaker 01

  Yep. The thing is like, I try to pay it off like in chunks, right?

• 47:32Caleb Hammer?

  You're not.

• 47:33Speaker 01

  I know, but I paid off and then it gets more. It's back. It comes back.

• 47:36Caleb Hammer?

  So there's no point of paying it off in chunks. You really just, uh, decided to bubble up all the months you would have paid for it. And then you put it towards and then you suspend it up again. So you're really changing nothing.

• 47:46Speaker 01

  Yeah, it's kind of like, it's kind of like a wheel.

• 47:48Caleb Hammer?

  Yeah. So I don't get what you're talking about. I don't get your logic here, man. It's not working.

• 47:53Speaker 01

  It's not, it's not.

• 47:53Caleb Hammer?

  So why follow the logic? Why continue to use logic if it's obviously not working? Cause you, no, no, no, no. Cause you knew coming in here that your logic was broken, right?

• 48:02Speaker 01

  That's the thing. I don't think it really is that broken.

• 48:04Caleb Hammer?

  But it is. You have debt that is accruing interest. Is that not bad?

• 48:08Speaker 01

  That is bad.

• 48:09Caleb Hammer?

  Then if that is continuing and never stopping and only getting worse, then how is the logic not broken? Please, how would it not be broken? Give me any logical reason how it would not be broken.

• 48:18Speaker 01

  I don't, I don't think I, I really can. It's kind of like the, the way I compartmentalize.

• 48:22Caleb Hammer?

  If you can't think of a reason why it's not broken, then that has to mean it's broken.

• 48:26Speaker 01

  Yes.

• 48:27Caleb Hammer?

  Okay.

• 48:31Caleb Hammer?

  So change it, man. When something is not working in life, you change it. If you're, if your doctor talks to you and says you're going to have a heart attack if you don't change your life, you don't just continue down the logic if you can eat whatever the fuck you want and not move at all. You have to change it.

• 48:50Speaker 01

  Yeah. The, that's where the thing is though, where it's just like, right now, like, yeah, the debt sucks. And I want to get rid of it because like, it would be nice to have an investment portfolio.

• 48:59Caleb Hammer?

  You don't want to get rid of it more than you want to do all this other stuff though, or else you'd do it.

• 49:02Speaker 01

  Yeah, that, that, that seems to be the, the major issue.

• 49:06Caleb Hammer?

  Yeah.

• 49:06Speaker 01

  Yeah.

• 49:08Caleb Hammer?

  So.

• 49:10Speaker 01

  What's gonna make you wanna get out of debt more?

• 49:12Caleb Hammer?

  Uh, well, first of all, like, cause I don't think, I think, I really, uh, there are things like, I know I made fun of you for the But there are some things of real world when you're younger. Sometimes there's a lot of hubris that comes with it. Sometimes there's a lot of just like, oh, these are consequence, there's no consequences. Yeah, I'll deal with it in the future. So there is some of that. And I think for you, it's like retirement's not on your mind because it's so far away. It doesn't matter. But you don't understand that retirement is now. So, cause you can get your retirement taken care of. Really? If you really wanted to, I'm not advising this because it means living no life in your twenties. But you could set yourself up for a complete success. If you invested like seventy-five percent of your money throughout your twenties, you would never have to invest again. And then you'd be, uh, be able to retire easily in your sixties.

• 49:56Speaker 01

  That's, that's the thing. So, and I think maybe that stems from this. So I have, I have a friend, I've worked with him on, on YouTube and he is, I think on paper millionaire. Like he owns his own house. He has, I think, three hundred and fifty thousand dollars in stocks, mostly between Tesla and Nvidia and things like that.

• 50:08Caleb Hammer?

  Okay, millionaire.

• 50:09Speaker 01

  Yep. Um, and like has like a full card payoff.

• 50:12Caleb Hammer?

  Oh, sure.

• 50:12Speaker 01

  And for him, like, you know, he lives life and he doesn't really work much. Like he just like sells stocks when he has to and then like he'll buy some stuff back. Um, and

• 50:19Caleb Hammer?

  I don't like that, but

• 50:20Speaker 01

  Yeah. And, and the thing is like, you know, he doesn't really like live life. I'm sure he's happy, but like, I enjoy living life.

• 50:25Caleb Hammer?

  I'm not saying get to that point, but you're not even contributing one percent.

• 50:28Speaker 01

  Yeah.

• 50:29Caleb Hammer?

  I was just literally advising not to do this thing that I said you could do.

• 50:33Speaker 01

  Yeah.

• 50:33Caleb Hammer?

  I'm saying you're in a position where if you really wanted to, you'd go crazy and then your retirement would be set up. But I'm just using that example, saying of how strong of a position you're in. If you're just contributing twenty percent in how strong time is, but if you just contribute twenty percent now, you're gonna retire a multi, multi, multi millionaire. So, and that really doesn't take much life away from you. Also, I feel like this was a pretty damn, Felix, you have to sometimes spend more than you make or else you would not be on this credit card.

• 51:00Speaker 01

  Yeah, I think, I think I do. Um, I know I did it last month, but potentially in August I did. Um, where it's just like you just, I just run it all the way up and I just like, just like, I can party, I can do whatever. And I just like put everything on the

• 51:13Caleb Hammer?

  Are you a big partier?

• 51:14Speaker 01

  No, not really. It's more like

• 51:16Caleb Hammer?

  Cause Miami can get really expensive for that lifestyle.

• 51:18Speaker 01

  Partying, like clubbing, but it's more like, I like going to like very high end bars. I like high end things, right? So I have like relatively high end clothing. Everything is fun. Well, that would be nice, right? Uh, no, but it's like the jewelry I buy, like the, like the clothes I buy.

• 51:33Caleb Hammer?

  You don't need that shit, yeah, dude.

• 51:34Speaker 01

  I know, but I enjoy it.

• 51:35Caleb Hammer?

  Y'all got scrappy's okay. Y'all got scrappy's okay, man. Set yourself up. I'm not saying don't live, but you don't need to live the $300 of your lifestyle in 120.

• 51:45Speaker 01

  Yeah, that's, that is, that is the issue. Um, which is what I try to do.

• 51:49Caleb Hammer?

  You would stop. But again, you know it, but you like it more than stopping.

• 51:54Speaker 01

  I, I do like it a lot.

• 51:55Caleb Hammer?

  You're addicted to it, man. You got that.

• 51:57Speaker 01

  Yeah.

• 51:59Caleb Hammer?

  And then there's Chick-fil-A and Apple Bill in here, some hibachi and other Apple Bill and other Apple. What are all these? You're like getting subscriptions or in-app purchases and then an Apple Bill, Apple Bill. What are all these? More Apple Bills? What are they?

• 52:13Speaker 01

  Um, I think the Apple Bills are me? No, so that's gonna be, maybe that is purchased with DoorDash? Um.

• 52:20Caleb Hammer?

  Oh.

• 52:21Speaker 01

  Things like that. And I do have like, let's say.

• 52:24Caleb Hammer?

  They are in the DoorDash price range, so.

• 52:25Speaker 01

  Yeah, I think that's what it's gonna be. Um, it's just through Apple, Apple Pay.

• 52:34Caleb Hammer?

  Why would you allow yourself to lose an additional 152 dollars in interest? So now we're up to 250 dollars of interest in one month gone. You're paying 150, 250 dollars as a fee to be able to have access to these cards. That's what you're doing. So that you can sustain your bougie lifestyle.

• 52:57Speaker 01

  Yes.

• 52:58Caleb Hammer?

  1,345 dollars in interest this year so far, meaning that to me, I feel like this card will, I don't know, I mean, it's a lot of money. 27.24% interest.

• 53:12Caleb Hammer?

  Oh, PayPal Credit, do we really need PayPal Credit? Can be a good tool for quick financing things at 0%, but it doesn't matter because you are having interest being charged. You're having fees being charged. You're, the minimum payment is 73. You paid more than that, 295, 245, but it doesn't matter because you spent 994 dollars with a 30 dollar fee and 4.50 cent of interest. And then the balance down to PayPal Credit.

• 53:38Caleb Hammer?

  I don't understand why. So this is attached to your business to you. The Apple is, it's personal.

• 53:44Speaker 01

  Yeah, the Apple's personal.

• 53:45Caleb Hammer?

  So you said you're prioritizing personal over the ink, but you're not. The Apple went up, PayPal credit went up. So let the f**k fly. You're bullsh**ing. Three thousand nine hundred fifteen dollars and ninety seven cents. With a seventy three dollar minimum payment again. But this is why run it off. Why run it up? Up. Oh, oh, it's all for Factor.

• 54:08Speaker 01

  Oh, yeah.

• 54:09Caleb Hammer?

  Which can be good. I like them as a, they're, they're, they're a good sponsor sometimes and they're also a good, uh, we, I eat their meals here for lunch.

• 54:17Speaker 01

  Yeah.

• 54:17Caleb Hammer?

  Well, guess what? I pay it with cash flow. You're putting it on debt and that's when you don't use those kinds of products.

• 54:24Speaker 01

  Yeah. So, uh, I was doing Factor for a while just because it was like really convenient for how my, kind of my work is structured.

• 54:30Caleb Hammer?

  Nine hundred dollars a factor.

• 54:32Speaker 01

  Yeah. Dude, it's good.

• 54:37Speaker 01

  Good sponsor.

• 54:40Caleb Hammer?

  But it's just insane because this is all added in debt.

• 54:43Speaker 01

  Yeah. I believe it's zero percent.

• 54:45Caleb Hammer?

  If you were cash flowing it, it's, it would be different. You know, zero percent factor. That's something, the zero percent financing of stuff I like are usually things that are gonna add value to life. This is just a little convenience.

• 55:01Speaker 01

  It is, it is a little convenience. Yeah.

• 55:03Caleb Hammer?

  Why? Why put this on debt? Factor.

• 55:07Speaker 01

  That's kind of like where I really only had like, like, uh, the ability to put it on, um, was, was the PayPal. Um, I don't think I could have put it on the Apple card or any of the other cards. Um, so that way I just kind of kept it there and then I would pay it off over time. Again, borrowing for myself in the future.

• 55:23Caleb Hammer?

  Why, why do this? To someone, so you were, you have so much time, man. I don't understand why compound in the opposite direction because that's what you're doing, man. You're compounding downwards.

• 55:38Caleb Hammer?

  It's I hate to see it as someone that has such a potential for success. I hate to see this compounding downwards and you're, I don't know, man. It's all just, it's all to fill like a hole, man. You're just like, it's just to fill a hole in you. Oh, the fee. What was the fee, guy? What was the fee? What was the fee?

• 56:01Speaker 01

  For?

• 56:01Caleb Hammer?

  Oh, what was the fee? Oh, yeah.

• 56:03Speaker 01

  It's a little game.

• 56:04Caleb Hammer?

  It's a late fee.

• 56:05Speaker 01

  Oh.

• 56:06Caleb Hammer?

  You're not even paying your damn debt on time. So what's the point? If you can't pay a debt on time, you are not qualified in any world to take out debt.

• 56:16Speaker 01

  Uh, yeah, again, that's just like the manual payment. Um, I just prefer it.

• 56:20Caleb Hammer?

  You prefer paying fees?

• 56:22Speaker 01

  Not, no.

• 56:24Caleb Hammer?

  Set it on auto and go, guess what? I pay off all my cards manually too, but I have them on auto. If for some reason I'm the dumbest motherfucker in the world and forget to pay it, which I never do. But if I did, I wouldn't have a fee hit.

• 56:41Speaker 01

  Yeah, I, well, I should do that.

• 56:42Caleb Hammer?

  It's a safety net. Why not give yourself the extra safety tools?

• 56:46Speaker 01

  Yeah, um, I don't have a good answer to that.

• 56:49Caleb Hammer?

  No, you don't. Cause there is no good answer.

• 56:51Speaker 01

  I, I should do that.

• 56:52Caleb Hammer?

  And that's, by the way, in addition to the DoorDash, just so you're factoring in the new DoorDash and what one's lunch, one's dinner.

• 56:58Speaker 01

  Yep.

• 57:01Caleb Hammer?

  The Discover.

• 57:02Speaker 01

  Yes.

• 57:03Caleb Hammer?

  Okay. So these two cards, you're right. Pay it off absolutely, but the money that you're spending on here is ridiculous.

• 57:08Speaker 01

  Yeah.

• 57:08Caleb Hammer?

  Because listen, even if paid off, it depends on the kind of money we're spending. Your credit score is six forty.

• 57:13Speaker 01

  Yeah.

• 57:13Caleb Hammer?

  And it's not like complete dog. It's not great either.

• 57:16Speaker 01

  Not, not as, not as where I would want it to be.

• 57:18Caleb Hammer?

  No, and it's probably because your utilization's bad on so many of the cards. It really is.

• 57:22Speaker 01

  That's the main reason.

• 57:24Speaker 01

  We can bring in my Equi, my, my Equifax that we want.

• 57:26Caleb Hammer?

  Yeah, the late fee isn't going towards it because it's not considered a mis, mispayment, but.

• 57:33Caleb Hammer?

  The kind of spending that you're doing on here, I don't understand why add this. I'm not gonna add this to your debt cuz it's not a debt. You're paying these off every month, right?

• 57:40Speaker 01

  Yes.

• 57:41Caleb Hammer?

  Right? Cuz there's no interest charge. Okay. But listen, you got workspaces on here. You got biohacker. You got PayPal and Venmo and or a Venmo service and PayPal service. And then who goes Inventados and Amazon and Amazon, Texan Court, Convention Spanner, Convention Spanner, I Am Sports, I Am Esports, Dragons Layer Comics, Dragon Layer Comic, Dragon Layer Comic, Dragon Layer Comics, Hulu, Discord, OpenAI ChatGPT, Frame.io, Venmo, Domino's, it's not even on a business card. You have these expenses that you could probably do with the business and Amazon and Society Awards. Come on, guy. Those are free to people who actually earn them.

• 58:23Speaker 01

  Uh, so yes, but if I work with clients to get a second one, so they get their free one to work with a second one, I have to pay it. There's a there's a replacement fee. Yeah, but if I work with them, I also earn it. You can get it with your team. So that's how I've done that.

• 58:36Caleb Hammer?

  I know, I know.

• 58:37Speaker 01

  Which is why I've got a few.

• 58:39Caleb Hammer?

  I'm sure.

• 58:41Caleb Hammer?

  Do they have your name on it?

• 58:43Speaker 01

  No, they have my client's name. I would not. That's my client. That's not me.

• 58:46Caleb Hammer?

  Yeah, yeah, okay.

• 58:47Speaker 01

  It'd be dumb if I had my name on it. It'd be like.

• 58:49Caleb Hammer?

  That's just one, two hundred eighty for one?

• 58:50Speaker 01

  That was the gold one, yeah.

• 58:52Caleb Hammer?

  Yay, yay, yay.

• 58:53Speaker 01

  The silver ones are, I think, one twenty-five.

• 58:54Caleb Hammer?

  I get the pride behind it, but it's just like, man, you don't have the money. Oh, um, okay. Oh, I continue.

• 59:02Speaker 01

  Yeah. So also on this card, I think I also just bought a TV on this card as well.

• 59:08Caleb Hammer?

  Is it still gonna be paid off every month?

• 59:10Speaker 01

  Probably, yeah.

• 59:11Caleb Hammer?

  Oh, you don't even know. So why you're so probably, probably is not a yes. So there is a chance that this card will accrue interest this next month.

• 59:18Speaker 01

  This card will get paid off cuz this is only the twenty-six hundred dollar balance. So like, no matter how much I make, this card just gets like eradicated every month.

• 59:24Caleb Hammer?

  What if you have a bad month for commissions, though? What if the the business you work for loses a client, like the one time you lost a client? And then you couldn't pay your damn bills cuz now you're accruing bills from things you already purchased.

• 59:33Speaker 01

  Uh, I I'll cross that bridge when I get there. That hasn't happened yet. I don't think it would, um, just because of like where I'm at in the business and what I bring to the business. Um, and also like clients turn every three to six months.

• 59:43Caleb Hammer?

  Can you pull up the pull up your account on that? Let me see. Are you doing dumb stuff on there? Let's chat about your savings for a second. If you're letting them just sit in a regular account, especially one with a low interest rate, you're missing out. It's time to talk about CDs or certificates of deposits. And I've partnered with money.com to make finding the perfect fit for you as easy as it can be. With CDs, your money earns more interest than it typically does in your regular savings account. But the savings you don't touch but want to grow in the meantime, money.com has made a lineup of the best CDs from top banks all in one place. You can easily compare options and see which one suits your financial game plan the best. But why should you care? Because with CDs, you're not just saving money, you're actively growing it. They're safer, they're steady, and they come with guaranteed returns.

• 1:00:28Caleb Hammer?

  No stock market up or downs, just good old predictable growth. So check out money.com's list of CD choices at the link in the description below. Finding a CD that fits your savings timeline and goals is important, and only a few clicks away. Trust me, your future self will thank you. This is a paid endorsement sponsored by money.com, which is compensated by its marketing partners. We got Grammarly on here, and Amazon, and Amazon, and Amazon, and Venmo, and Amazon. What do you need on Amazon? And Substack, and DoorDash, you have everything possible. DoorDash, Buffalo Wild Wings, Crunchyroll. Oh my gosh, HBO Max, Frame.io, you already paid for that. Oh my gosh, $111 for that.

• 1:01:05Speaker 01

  That is being covered by the business now. The Frame.io is being covered by the business.

• 1:01:08Caleb Hammer?

  Good. DoorDash, that's a review video, right?

• 1:01:11Speaker 01

  Yes, that's a video.

• 1:01:12Caleb Hammer?

  DoorDash, Amazon, Amazon, Amazon, Amazon, Amazon. DoorDash, DoorDash. And other subscription, Amazon, Amazon. I'm gonna wanna take a look at your Amazon too, cuz this is all ridiculous.

• 1:01:21Speaker 01

  Do you wanna bring up my Amazon account, my Discover account?

• 1:01:23Caleb Hammer?

  Discover first, and then DoorDash, and then DoorDash McDonald's. Your DoorDash CVS, and then your DoorDash McDonald's. Mind you, again, it's, listen, it's, you pay this off, that's good, but the category that a lot of purchases are the, some of these are in work, and some of these are in bullshit, and the bullshit could be paying off the Apple card quicker.

• 1:01:41Speaker 01

  Yes.

• 1:01:41Caleb Hammer?

  So even if it's not a card that is being paid off, that money that you are being forced to pay off could be going to something else, mainly it is still dumb.

• 1:01:48Speaker 01

  Yes.

• 1:01:48Caleb Hammer?

  Let me see.

• 1:01:51Speaker 01

  There you go.

• 1:01:52Caleb Hammer?

  Kind of fun is this?

• 1:01:53Speaker 01

  It's a nothing phone.

• 1:01:55Caleb Hammer?

  I'd say so. Okay. Uber, mortgage card. Contra?

• 1:02:02Speaker 01

  Yeah, so Contra is a payment service for people I work with.

• 1:02:06Caleb Hammer?

  So you still do pay people?

• 1:02:07Speaker 01

  Yes.

• 1:02:09Caleb Hammer?

  Henley's gentleman.

• 1:02:11Speaker 01

  Got a haircut for the show. I was looking really disheveled.

• 1:02:15Caleb Hammer?

  Okay.

• 1:02:17Caleb Hammer?

  Audible. Yeah, it's a lot of the same purchases. Tinder, pay for Tinder.

• 1:02:23Speaker 01

  That was when I was on vacation in Miami. Did not work.

• 1:02:27Caleb Hammer?

  You were trying to?

• 1:02:28Speaker 01

  Yeah. Went in Rome.

• 1:02:31Caleb Hammer?

  Yeah, but go out.

• 1:02:32Speaker 01

  Yeah, but I don't like going out very often. Occasionally.

• 1:02:38Caleb Hammer?

  Okay, pull up your Amazon.

• 1:02:40Speaker 01

  Oh, I'm gonna get my rock for this.

• 1:02:42Caleb Hammer?

  Okay, cuz that was like half the purchases on here, guy. So why do that to yourself? I don't really get it. Have you had interest charges just so far on this card? Let's see. You have had interest this year so far, meaning you probably were late on a payment once. Not late on a payment, but late on making the full payment. Hey, you hear me?

• 1:03:00Speaker 01

  Yes.

• 1:03:01Caleb Hammer?

  So you can't have access to this credit card cuz you negate all your points instantly when you have interest charged even once.

• 1:03:08Speaker 01

  Wait, okay, was the TV purchased on the card, but through Amazon? You purchased the TV through Amazon? Got it. So that's what that is.

• 1:03:16Caleb Hammer?

  Okay, some shampoo, I think, maybe toothpaste, toothbrush. Screen protector, fine. Lots of ramen.

• 1:03:26Speaker 01

  Yeah.

• 1:03:27Caleb Hammer?

  You got a poop cleaner and more ramen.

• 1:03:30Speaker 01

  Yep.

• 1:03:31Caleb Hammer?

  Lots of ramen. Xbox controller, probably don't need it, but you did get it refunded. Did you get COVID? Did you have COVID?

• 1:03:37Speaker 01

  Yes, well, I was I was super sick, so that's when I had the flu, and I wanted to make sure it wasn't COVID. It was not.

• 1:03:43Caleb Hammer?

  Top. Some ceramic shaving bowl.

• 1:03:48Speaker 01

  Yeah.

• 1:03:48Caleb Hammer?

  I don't even know. People use that. I didn't know we were in the 1800s. More Xbox controllers. Oh. I do believe that coffee table was the first coffee table I purchased when I moved down here.

• 1:04:00Speaker 01

  Oh, you have good taste.

• 1:04:02Caleb Hammer?

  Yeah, it looks just like it. No, no, no, I wouldn't get something like that. No, no, no, it's like the, it's like the fake.

• 1:04:09Speaker 01

  Yeah.

• 1:04:10Caleb Hammer?

  It's that fake. I had like a real nice wood thing. You got like the fake rustic looking wood. I hate that look. I don't know why people like that look. It looks so bad.

• 1:04:17Speaker 01

  It's just what's available.

• 1:04:19Caleb Hammer?

  Yeah, that's fine. Probably not a hundred percent necessary when we can't afford to pay off our other debt. I don't think, I don't think.

• 1:04:23Speaker 01

  Furniture downstairs.

• 1:04:24Caleb Hammer?

  Yeah, a coffee table. That's the critical piece of furniture.

• 1:04:26Speaker 01

  Well, we got a couch as well.

• 1:04:27Caleb Hammer?

  Okay, listen, cool. That's awesome. Doesn't mean you need a coffee table when you are losing two hundred fifty dollars in interest in a single month off of your two other credit cards, okay?

• 1:04:36Caleb Hammer?

  Yeah, and again, there was interest this year so far. Here's another card that you pay off, right? But still, seven hundred forty-five dollars of purchases. I can add it to the debt because you are paying it off. But eBay, eBay, eBay, E P A, Uber Eats and Amazon and Amazon. What are all these? Well, first of all, Uber Eats stupid. What are all these eBay? Eighty-six dollars, twenty-six dollars, forty-seven dollars, twenty-three dollars.

• 1:04:56Speaker 01

  So we're, we're building out the downstairs, so.

• 1:04:59Caleb Hammer?

  Who's weird?

• 1:05:00Speaker 01

  Me and my roommate, my, me and my roommate.

• 1:05:02Caleb Hammer?

  But you have to leave soon.

• 1:05:04Speaker 01

  We didn't know that at the time. Uh, we found out this month on the first. So, yeah, that kind of fucked a bit. Uh, or not on the first, on the fifth.

• 1:05:13Caleb Hammer?

  So it wasn't them, it was the landlord?

• 1:05:15Speaker 01

  Yeah, it was the landlord. Yeah, so, uh, they're selling the house.

• 1:05:19Caleb Hammer?

  Okay, no interest charged on this year, uh, in this year for this card.

• 1:05:24Speaker 01

  Let's go.

• 1:05:25Caleb Hammer?

  Yeah, you did one card correct, but again, do all the eBay furniture things make sense and the Uber things and the Amazon things make sense? When we have cards that are going two hundred fifty dollars a month in interest? I don't think so. They do not return that kind of value, those things that you're purchasing. In fact, they only go down in value, especially the food. Because it's gone.

• 1:05:41Speaker 01

  But it's tasty, though.

• 1:05:43Caleb Hammer?

  Uh huh huh. Twenty-eight percent. Okay. Okay, is that all your debt?

• 1:05:49Speaker 01

  Oh, I have a firm.

• 1:05:51Caleb Hammer?

  How much? And for why and what?

• 1:05:53Speaker 01

  Okay, so, uh, I have eighteen hundred right now on a firm, which is down from forty-three a few, like, a year ago. Uh, so I bought a brand new computer. I needed a new computer. My other computer, like, self essentially. Um.

• 1:06:05Caleb Hammer?

  What computer? What'd you get?

• 1:06:08Speaker 01

  So it's a forty-nine E T I, it is a.

• 1:06:10Caleb Hammer?

  Well, no, no, no, no, no. Okay, so this is a tower?

• 1:06:12Speaker 01

  Yes.

• 1:06:13Caleb Hammer?

  Name the specs.

• 1:06:14Speaker 01

  Okay, so it's a 4090 Ti. It's 64 gigs of-

• 1:06:17Caleb Hammer?

  You did not need a 4090. Need? You did not. You could have gone with a 4080.

• 1:06:22Speaker 01

  So I stream and I also use it for remote rendering.

• 1:06:25Caleb Hammer?

  Yep, you did not need it.

• 1:06:27Speaker 01

  Yes, I did. For what I was specifically doing, like streaming the video encoding I do, it saves me so much time.

• 1:06:32Caleb Hammer?

  Yes, there is a little bit of time on there, but you did not need, the word need, as in critical, you could have spent an extra 15 minutes on the rendering. I know for a fact, we have all the different GPUs here. I know you could have done it. We've played with them all. Okay, you could have saved a little bit of money there. Okay, go ahead, continue.

• 1:06:50Speaker 01

  Um, then it is a 7900X, 7950X, something like that. Um, it's the, it was the top end AMD processor at the time.

• 1:06:59Caleb Hammer?

  Sounds like you went full top, tippity top.

• 1:07:00Speaker 01

  Yeah, I maxed out everything.

• 1:07:02Caleb Hammer?

  Great. How much RAM?

• 1:07:04Speaker 01

  It's 64 gigs DDR5.

• 1:07:05Caleb Hammer?

  You didn't max out everything.

• 1:07:06Speaker 01

  I could have had 128, yes, but I only needed 32, but I got 64 for Adobe applications, because they're, they're pretty RAM hungry.

• 1:07:13Caleb Hammer?

  And Chrome tabs. Amazon purchases continuing the checking account. Oh, wait, what's the minimum monthly payment on the Affirm?

• 1:07:20Speaker 01

  Uh, the minimum monthly payment on the Affirm is, I think at this point, 220. It's 173, and then I have one last thing that's going to get paid off this month. So it'll be 173 flat after that.

• 1:07:31Caleb Hammer?

  And then what, okay, what will the balance be after that?

• 1:07:34Speaker 01

  After that, it'll be, it'll be zero. I mean, after I pay off this last thing. Well, I have two things.

• 1:07:38Caleb Hammer?

  No, you said 173.

• 1:07:40Speaker 01

  Yeah.

• 1:07:40Caleb Hammer?

  Okay, yeah, what will your balance be with that minimum monthly payment?

• 1:07:43Speaker 01

  It'll be 1650, I think, roughly.

• 1:07:45Caleb Hammer?

  1650. So we'll put that as your balance. Okay, and the checking account, right? Because you don't have any other debt? Right?

• 1:07:53Speaker 01

  That's correct, yeah.

• 1:07:54Caleb Hammer?

  You have a thousand bucks in here, which is insanely low for someone who makes as much as you. It's stupid.

• 1:07:58Speaker 01

  I know. That's like the biggest pain point.

• 1:08:00Caleb Hammer?

  It's another thing he knows, but he doesn't actually work on.

• 1:08:03Speaker 01

  Biggest payment, I'll have the money transferred into my account.

• 1:08:04Caleb Hammer?

  Guy, we already know the bullshit you spent your money on was probably about a thousand bucks at a minimum. Like generous, thousand, um, what's going out to be unknown spending?

• 1:08:18Caleb Hammer?

  We had, I don't have a guess at, oh, well, fifteen hundred? What the? Yes.

• 1:08:26Speaker 01

  That's, that's bad.

• 1:08:28Caleb Hammer?

  So you spent about two thousand five hundred on guaranteed.

• 1:08:31Speaker 01

  Yep.

• 1:08:31Caleb Hammer?

  Guaranteed.

• 1:08:34Caleb Hammer?

  You could have, if you didn't do that, thirty five hundred bucks in this checking account then. Again, this is all a choice and you are doing it to yourself. Amazon.

• 1:08:44Caleb Hammer?

  A return fee? You got a return fee because, because what?

• 1:08:47Speaker 01

  Okay, so that I do know what happened there. So I, you, do you use Wise? Do you know what Wise is?

• 1:08:52Caleb Hammer?

  Uh, I've heard of it.

• 1:08:53Speaker 01

  It's basically like PayPal, but not dog. Um, okay, best way to describe it.

• 1:08:56Caleb Hammer?

  Yeah, you use PayPal. Okay.

• 1:08:58Speaker 01

  Uh, that's the legacy thing I had for a while. Um, but yeah, so I get paid through Wise and then I have to transfer Wise to my bank account. Um, and when I transferred the Wise money to my bank account. Uh, you have to like put the exact amount in and I didn't calculate like the amount that I would need for like the fee. So I, I put more in by like a dollar. Um.

• 1:09:16Caleb Hammer?

  Come on, dude.

• 1:09:18Speaker 01

  So, yeah.

• 1:09:18Caleb Hammer?

  Amazon, PayPal, there's the fee, Uber trip, Uber trip, DoorDash and Sonic. Oh, my gosh.

• 1:09:24Speaker 01

  Oh, this one's so good.

• 1:09:25Caleb Hammer?

  Oh, this is where all the food spending is that we have to get there. I was gonna say that number surprised me because I didn't feel like we went through it all with that. That makes sense. DoorDash and seven eleven, PayPal and out, Cash App and out. A hundred and forty three dollars for pay FL, or PF, PLFUI.

• 1:09:45Speaker 01

  Hundred and forty three?

• 1:09:46Caleb Hammer?

  Uh, this is some terminal.

• 1:09:49Speaker 01

  Big thing.

• 1:09:50Caleb Hammer?

  DoorDash and seven, what are you kidding?

• 1:09:52Speaker 01

  Mostly energy drinks.

• 1:09:54Caleb Hammer?

  Guy, go to the grocery store and buy a bulk, you dumb little. DoorDash and Sonic, why don't you get food? Sonic is like literal bottom of the bottom of the barrel.

• 1:10:03Speaker 01

  Totally, it's so good. I love Sonic.

• 1:10:06Caleb Hammer?

  I recently got it. I recently got it. I felt like ill because.

• 1:10:09Speaker 01

  Oh, you just, you gotta, you gotta get my order. My order's great.

• 1:10:10Caleb Hammer?

  What's your order?

• 1:10:11Speaker 01

  So I get, I believe it's like the blast they call it, I think, or something similar like that. I, it's like, but now I scream, but then I get like.

• 1:10:18Caleb Hammer?

  Yeah, yeah, yeah, yeah, yeah.

• 1:10:18Speaker 01

  Cookie dough, Reese's, Oreo crush, and then I get the Coney Island dog, and then I get a corn dog.

• 1:10:24Caleb Hammer?

  Okay, I had the dog. It was.

• 1:10:26Speaker 01

  The hot dog's not great. It depends. It depends on the location.

• 1:10:28Caleb Hammer?

  I think I had the corn dog too and I don't remember.

• 1:10:30Speaker 01

  I like it.

• 1:10:31Caleb Hammer?

  I do like their, their ice cream's fine, but there's so many better places like Andy's frozen custard. Okay, DoorDash, 7-Eleven, PayPal and Pay Pay and DoorDash and McDonald's and DoorDash and Little Caesar's and DoorDash and 7-Eleven and DoorDash and Sonic and DoorDash and McDonald's. We're on a repeat here. This is just endless cycle. Uber trip, Uber trip, Uber trip. Why are you not driving? You hate driving? Do you have a car?

• 1:10:52Speaker 01

  I do not have a car.

• 1:10:53Caleb Hammer?

  Okay, yeah. Do you want a car?

• 1:10:56Speaker 01

  Not.

• 1:10:57Caleb Hammer?

  You're gonna be moving, so we don't know what your life will be like.

• 1:10:59Speaker 01

  Not particularly. And then if I move to Miami, relatively walkable city, like third or fourth most walkable.

• 1:11:04Caleb Hammer?

  Really depends where you live.

• 1:11:05Speaker 01

  I would be living.

• 1:11:06Caleb Hammer?

  If you live in the heart, yeah.

• 1:11:07Speaker 01

  Yeah, I'd be living in over town.

• 1:11:08Caleb Hammer?

  I was gonna say, because it is endless suburbs as well where you need a car.

• 1:11:11Speaker 01

  It is endless suburbs, but I'd be living in downtown in an area called over town and they have the Miami Metro mover and it's most walkable.

• 1:11:17Caleb Hammer?

  Okay.

• 1:11:19Caleb Hammer?

  PayPal out, PayPal out. A lot of money, 1,200 there. PayPal's $63. More Uber, Uber, Uber, Uber, cash app and out. 325, where's that going? So much money.

• 1:11:30Speaker 01

  That's bills.

• 1:11:32Caleb Hammer?

  And the PayPal's?

• 1:11:33Speaker 01

  Uh, depending on what the transaction with the PayPal was, it's either PayPal credit or if it's a direct PayPal, PayPal transfer fee, it's likely me, uh, paying my partner for the YouTube channel we run.

• 1:11:46Caleb Hammer?

  DoorDash and out, uh, or sorry, DoorDash and Whataburger, Uber, Uber, DoorDash McDonald's, DoorDash, check in the box, you only get fast food. DoorDash, CVS. DoorDash, what are you getting? CVS? Is that more energy drinks?

• 1:11:57Speaker 01

  Um, no, that's probably when I was sick. Um, like that's like.

• 1:12:00Caleb Hammer?

  You get sick like every day, you don't go outside.

• 1:12:02Speaker 01

  I, I don't go. I mean, I'm paid. Look at that. I look like a ghost.

• 1:12:04Caleb Hammer?

  Yes.

• 1:12:05Speaker 01

  Um, yeah, no. So I, I don't go out very often. Um, and I have like a.

• 1:12:08Caleb Hammer?

  You kind of get sick constantly.

• 1:12:09Speaker 01

  Yeah, kind of a weak immune system.

• 1:12:11Caleb Hammer?

  Probably because you don't. DoorDash and Spice, DoorDash and Sonic, DoorDash and Chick-fil-A, DoorDash and McDonald's.

• 1:12:19Caleb Hammer?

  What is YouTube me?

• 1:12:23Speaker 01

  Oh, um, that eh.

• 1:12:26Caleb Hammer?

  Membership, is it short for membership, maybe?

• 1:12:28Speaker 01

  Oh, it might be. That might be YouTube membership. Yeah.

• 1:12:30Caleb Hammer?

  We have a membership, tens of thousands of hours of content back there. Really good stuff. Highly recommend checking it out. But you have debt, so it doesn't make sense for you to have it. Microsoft PayPal, PayPal, Cash App, Uber, Uber.

• 1:12:44Caleb Hammer?

  And then, yeah, your return fees. That was kind of crazy.

• 1:12:46Speaker 01

  That was a one-time return fee, I think.

• 1:12:48Caleb Hammer?

  Yeah, it was one time, but it still happened.

• 1:12:50Speaker 01

  Yeah.

• 1:12:50Caleb Hammer?

  It's ridiculous. Your debt could be paid off so simple. I bet your budget is gonna be so chill. I bet it's gonna be so chill.

• 1:12:57Speaker 01

  I hope so.

• 1:12:58Caleb Hammer?

  We lived the opposite lives. Now, for what it's worth, you, you ended up making six figures before I ever did, but I ended up getting into sales. And I did really well there and I ended up making six figures. But we did the opposite. You're just going to live the high life and I went and paid off all my debt instead. I feel like I turned out in a better position financially.

• 1:13:17Speaker 01

  There's, there's a, there's.

• 1:13:18Caleb Hammer?

  Even without this business.

• 1:13:20Speaker 01

  Yeah, I, you definitely better positioned financially, but I, maybe I have more fun.

• 1:13:23Caleb Hammer?

  I had a quarter million dollar net worth after, you know, what, like four years of doing that because I was properly investing, taking advantage of time and making smart choices instead of accumulating, accumulating lots of debt before I ever started this channel.

• 1:13:35Speaker 01

  So I had like.

• 1:13:36Caleb Hammer?

  More fun, what do you do? You don't do anything. It doesn't, you, everything here is doordashing.

• 1:13:41Speaker 01

  Yeah, so.

• 1:13:41Caleb Hammer?

  That's the more fun.

• 1:13:42Speaker 01

  When I travel, I do travel a lot. So in July, I had a trip in Miami. I had a trip in New York in March. Um, I, I just went to Miami recently.

• 1:13:51Caleb Hammer?

  I don't think you can afford these, man. Not anymore.

• 1:13:54Speaker 01

  Not anymore.

• 1:13:55Caleb Hammer?

  Just temporarily. You can afford them. Just budget them. Budget them properly. After you get out of debt, I feel like I could get you out of debt in like five minutes.

• 1:14:05Speaker 01

  That'd be sick.

• 1:14:06Caleb Hammer?

  Income is so strong. Your income is so strong. I know it'd be sick. You could do it, okay? So that pisses me off. There's because hmm I feel like you're gonna prioritize going on more trips and doordashing and all that stuff over actually getting out debt.

• 1:14:21Speaker 01

  I I'd like to.

• 1:14:22Caleb Hammer?

  Are you coming on just because it's a YouTube channel?

• 1:14:24Speaker 01

  No.

• 1:14:24Caleb Hammer?

  Uh, I. If you're in the space and you like that.

• 1:14:26Speaker 01

  No, um, but I I would really like to pay down the debt because uh I'd like to get serious about like living my life and this is like really kind of holding me back. So like with the low credit score, it's gonna be hard to like apply to like certain apartments that I would really like. Um, and with like.

• 1:14:39Caleb Hammer?

  Yes.

• 1:14:39Speaker 01

  My income.

• 1:14:40Caleb Hammer?

  Yeah.

• 1:14:40Speaker 01

  Like if I had no debt, it would be not difficult for me to afford that. I could budget it.

• 1:14:43Caleb Hammer?

  What on average hits your account on a monthly basis for your pay? Across everything, commissions and pay. Hits your account.

• 1:14:48Speaker 01

  Yeah, ten thousand.

• 1:14:49Caleb Hammer?

  We'll do ten thousand. That's incredible. That's delicious. I love it.

• 1:14:52Speaker 01

  It could be more as well.

• 1:14:53Caleb Hammer?

  Post taxes. Again, are you a contractor? Are you supposed to be setting money aside for taxes?

• 1:14:58Speaker 01

  Yes, I should.

• 1:15:00Caleb Hammer?

  Have you paid taxes?

• 1:15:01Speaker 01

  I have paid taxes.

• 1:15:01Caleb Hammer?

  Oh, thank.

• 1:15:02Speaker 01

  Yeah, I I've I've paid taxes.

• 1:15:03Caleb Hammer?

  Oh, no bingo this episode, guys. Okay. So you're setting three thousand dollars aside, so we're gonna live off of seven thousand dollars. Okay, there we go. Cool?

• 1:15:11Speaker 01

  Yep.

• 1:15:12Caleb Hammer?

  Okay, cuz you have to take care of your uh uh you know, social security taxes, your self-employment taxes, all this stuff. Okay, so your debt payments.

• 1:15:25Caleb Hammer?

  There's some thick, chunky minimum monthly payments, four forty seven plus three or four forty seven plus two eighty three point nine six plus seventy three. Okay, yeah, why already take such a substantial portion of your income away from minimum monthly payments? It's so stupid. And then you're still adding money to those credit cards. It makes no sense when you can afford it. Because even in this last month, when you're spending money on those credit cards, you made more than you spent. So it's extra, extra dumb. It's dumber than the people that are spending more than they actually make. Eight hundred three dollars and eighty six cents for your minimum monthly payments. What's your rent and when does it end again?

• 1:15:58Speaker 01

  Um, January thirty first.

• 1:15:59Caleb Hammer?

  Okay, what what's your rent?

• 1:16:00Speaker 01

  So my rent is five hundred flat.

• 1:16:01Caleb Hammer?

  And utilities?

• 1:16:03Speaker 01

  That's gonna be variable, but let's say three hundred and three hundred and twenty five.

• 1:16:05Caleb Hammer?

  Does that include the internet?

• 1:16:06Speaker 01

  Yeah, that does include internet.

• 1:16:07Caleb Hammer?

  Do you have renters insurance?

• 1:16:08Speaker 01

  I do have renters insurance.

• 1:16:09Caleb Hammer?

  Is that included in that?

• 1:16:10Speaker 01

  Yes. No, uh, that's separate. That's twenty one dollars a month.

• 1:16:13Caleb Hammer?

  Cool. Gas, room, room, drive, drive. You don't, but you Uber. Could we get away with a hundred fifty bucks a month in Uber?

• 1:16:20Speaker 01

  Yes, or less, probably a hundred. Um.

• 1:16:22Caleb Hammer?

  Okay, we'll do that then.

• 1:16:25Speaker 01

  Some ones are different, like, like, for example, that one.

• 1:16:26Caleb Hammer?

  Grocery shop. I didn't see any grocery shopping.

• 1:16:28Speaker 01

  Um, no, but there is an H B literally right up my road. Like it's a fight. I could walk there. There's a sidewalk there. I do.

• 1:16:33Caleb Hammer?

  Good. Do that. Three hundred hours for all our meal plan. That's for your necessary food. Follow our meal plan, tweak it to your needs. You're gonna meal prep a couple of times a month, just while you get out of this, a couple of times a week. TP fund, anything else you need to survive, hundred dollars a month. Uh, how much would you say is required to fund your business across all these extra things pretending you cut back? Pretending you should cut back on some things that you really don't need. Give me just a rough guess. You'll budget this out later.

• 1:16:56Speaker 01

  Let's say two fifty.

• 1:16:58Caleb Hammer?

  Okay, gonna do.

• 1:17:04Caleb Hammer?

  Two fifty and luckily, yes, with some end of year taxes, some things will still work out, but, uh, anything medical, healthcare?

• 1:17:12Speaker 01

  Yeah, I have insurance. That's two hundred and sixty seven dollars a month.

• 1:17:15Caleb Hammer?

  And then are there copays or anything on a monthly basis, medications, anything?

• 1:17:18Speaker 01

  Uh, oh, uh, yes, Adderall, twenty dollars a month.

• 1:17:21Caleb Hammer?

  Okay, that makes sense. Phone bill?

• 1:17:24Speaker 01

  Uh, phone bill is gonna be a hundred and ten dollars a month.

• 1:17:26Caleb Hammer?

  Do you owe money on your phone?

• 1:17:28Speaker 01

  Uh, international.

• 1:17:28Caleb Hammer?

  Thing I was holding?

• 1:17:29Speaker 01

  International phone.

• 1:17:30Caleb Hammer?

  International?

• 1:17:31Speaker 01

  Yeah, so I.

• 1:17:32Caleb Hammer?

  Gonna say get helium. We like helium. It's fifteen bucks a month for T-Mobile towers, international, though.

• 1:17:37Speaker 01

  Yeah, I, I have clients in.

• 1:17:38Caleb Hammer?

  Okay, so one fifteen, you said?

• 1:17:40Speaker 01

  Uh, one ten.

• 1:17:41Caleb Hammer?

  One ten. What else needs to be in your budget? Do you have any pets?

• 1:17:44Speaker 01

  I have no pets. Besides my roommates, they, they may as well be pets.

• 1:17:47Caleb Hammer?

  Just count. You're not funding them. So what? What else needs to be in your budget that I have not taken account for?

• 1:17:53Speaker 01

  Um.

• 1:17:54Caleb Hammer?

  Anything else at all?

• 1:17:57Caleb Hammer?

  And I know your rent situation is gonna change, but let's see what it looks like for a few months, for three months.

• 1:18:03Speaker 01

  I think that's it.

• 1:18:07Caleb Hammer?

  Just a little.

• 1:18:10Caleb Hammer?

  Child. Two thousand seven hundred and ninety six dollars and ninety six cents. So, simple thing in the world. You have an extra four thousand two hundred, three dollars on a monthly basis. Okay, this month you pay off PayPal, it's gone. Uh, next month you pay off Chase. Uh, included in that because there's a little left on PayPal throughout those situations, you should also be able to pay off a firm. Then it's January, maybe instead of paying off the Apple, set some money aside for security deposits instead of everything. Your credit score will have gone up because you decrease your overall utilization of credit because you pay off some of that stuff. Helping you to get an apartment, wonderful. If you move somewhere, you're gonna put the security deposit down, maybe first month's rent, you're gonna utilize this 4,200. Then let's say because of rent, you're gonna go up to about 1,500. Okay, cool. So you have

• 1:18:55Caleb Hammer?

  3,200 dollars left, so you pay off your Apple card in two and a half months. So after that month of saving, and the two months, two and a half, hmm, five and a half months, you're debt-free, it's simple. Get a fully funded emergency fund, what you need to survive, which at that point will be about 3,800, we'll call, potentially, actually, without your debt, never mind, that's a lot, 3,000 dollars a month with your new rent, all that good stuff. Times six, uh, 18,000 dollars with your extra money you have left over

• 1:19:31Caleb Hammer?

  of the 3,000 dollars, just about, should be able to save that up in about six months. And under your, your debt-free, you have a fully funded emergency fund, this is the most basic, dumb easiest solution in the world, it's just you not being a child, pretending like you make 300,000 dollars a year. And then just literally 50% of your needs, which will be a ton of money, spend 50% on your needs, 30% on wants, which will be a ton of money, then 20% on investing, and like I showed, you'll be a multi-multi-multi-millionaire. There's no more to say because this is the dumbest thing in the world, you could do this tomorrow, but you chose not to, there's no reason for you to be in this situation, it's stupid, it's dumb, don't do it. Some months you're gonna make more, throw that, accelerate this process. What the, spending a budget, technically you spent under, but you're still putting things on the credit cards and not paying them off wholly.

• 1:20:15Caleb Hammer?

  And money was going to bad things, so I'm still gonna call it a three out of 10, being generous there. Debt for your income situation with where you are in life, it's not the worst of the worst of the worst, we just showed you can pay it off relatively quickly. But it's still pretty bad that you are accruing interest on many things, I'm gonna give you a three out of 10, it's the most generous I can be there. Emergency fund, no savings. 0 out of 10 retirement no savings 0 out of 10 uh emergency funds 0 out of 10 it's gonna be a hammer financial score a 1.5 out of 10 guys we're gonna try this girl try to call his girlfriend in the post show there's actually something else that we need to bring up in the post show as well I just realized that the producers are texting me right now so make sure to join the YouTube membership below hammer pro hammer elite hammer VIP we have a ton of extra shows where you can even call in and talk to me

• 1:20:54Caleb Hammer?

  it's really cool make sure to join that and make sure to check out our investing bundling and the budgeting course all bundled for 25% off right now so you guys in the potion I'm an ex-girlfriend that so much stupid money was spent how much

• 1:21:09Speaker 01

  $10,000 in 10 days

• 1:21:11Caleb Hammer?

  how do you spend $10,000 in 10 days to fly a woman to New York that is insane call this woman call this woman I need to call her

• 1:21:19Speaker 01

  I'll see if I can call her

• 1:21:20Caleb Hammer?

  yeah give her a call to watch the financial audit post show click the join button below 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

• 1:21:43Speaker 02

  how much did I make 384

• 1:21:45Caleb Hammer?

  you don't think you overspent

• 1:21:46Speaker 02

  oh I probably I guess I did yeah seven maybe I don't know

• 1:21:51Caleb 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

• 1:22:02Speaker 03

  no

• 1:22:03Caleb Hammer?

  mhm

• 1:22:03Speaker 03

  no way

• 1:22:03Caleb Hammer?

  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

• 1:22:20Speaker 04

  Jake just got a delivery of a sword

• 1:22:26Caleb Hammer?

  a member stream every single Tuesday with myself and the crew could break up with her today he's already decided to five weeks ago he could break off with her today why is he not because her birthday is coming up when though two weeks two weeks Thanksgiving's after that a couple weeks after her birthday and Christmas is only a couple weeks and New Years and then

• 1:22:45Speaker 05

  Okay Dave.

• 1:22:48Speaker 05

  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 is just she.

• 1:23:02Speaker 05

  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.

• 1:23:13Caleb 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.

• 1:23:50Speaker 05

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