The Impossible Financial Audit

▶ *I* *CALL* *THE* *WIFE* !!!! And guess what?? He lied to us... this crap is insane, watch the post show here: https://www.youtube.com/channel/UCLe_q9axMaeTbjN0hy1Z9xA/join ▶Bundle my budgeting, debt + investing program for 15% off: https://calebhammer.com/classpack/ PDS Debt is offering a free debt analysis. It only takes thirty seconds. Get yours at https://PDSDebt.com/caleb Looking for lower rates and better terms quickly and easily? Click https://money.com/caleb-mortgage-refi to compare the best mortgage refinance options with Money.com. Paid endorsement. This message is sponsored by Money.com, which receives compensation from its marketing partners for some of the products and services featured. Eligibility requirements apply and offers may be subject to change without notice. Learn more about how Money.com makes money. You can try invideo AI for free, but if you are serious about video creation you should get a paid plan that starts at just $20/month which is the one that I have and it will remove the watermark + give you access to voice cloning and high quality stock footage. Just go to this link https://invideo.io/i/CalebHammer and use my code CALEBHAMMER50 to get twice the number of video generation credits in your first month. ▶▶▶Watch this episode's *POST* *SHOW* + get *MORE* Financial Audit here: https://www.youtube.com/channel/UCLe_q9axMaeTbjN0hy1Z9xA/join ▶EDUCATION: 1) Bundle my budgeting, debt + investing program for 15% off: https://calebhammer.com/classpack/ 2) The best budgeting program online: https://calebhammer.com/budget 3) Get my investing class and I’ll give you a $100 moomoo cash reward: https://calebhammer.com/investing 4) Win with GOOD debt and get out of BAD debt correctly, learn in my debt program: https://calebhammer.com/formula 5) Get your own free Hammer Financial Score: https://www.calebhammer.com _______________________ ▶RESOURCES 1) Checking & Savings: Get up to 4.60% APY, pay no account fees, and earn up to $300 when you sign up and set up direct deposits. Terms apply: https://creator.sofi.com/c/5535481/2068695/19219?adcampaignid=bank&adnetwork=brand *affiliate link 2) Important: The creator is a paid influencer and not affiliated with Moomoo Financial Inc. ("MFI") or its affiliates. Content outside of the moomoo ad has not been reviewed by MFI and reflects the influencer's own views. MFI does not endorse any strategies mentioned and is not responsible for the influencer's services. Click this link https://j.moomoo.com/Caleb to get up to 15 free stocks from moomoo U. S when you make a qualified deposit + earn 4.6% on uninvested cash + an additional 3.5% APY Coupon for 3 months for new users!! Terms & Conditions Apply 4) CourseCareers: Land a high-paying job with no experience or degree by going through an affordable online course: https://coursecareers.com/a/calebhammer 5) The credit building debit card: First 100,000 people to sign up for Fizz with code: HAMMER10 get $10: https://www.joinfizz.com/caleb (paid ad) 6) Advising: Book your free strategy session https://dmnmny.co/caleb to work with Adrianna or any of the other CFPs at Domain Money today! 7) Helium Mobile: save a ton on your phone bill, sign up and get 30 days of FREE trial when using promo code CALEB https://hellohelium.com/ 8) Online security: Protect your online privacy and security NOW and for free by following my link Aura: https://aura.com/hammer Learn more about your ad choices. Visit megaphone.fm/adchoices

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.

• 0:03Speaker 01

  Five kids, that's five of us.

• 0:04Caleb Hammer?

  Yeah, you can't go out to eat, you dumb, you're gonna lose the house.

• 0:07Speaker 01

  One more time.

• 0:08Caleb Hammer?

  You're a stubborn little.

• 0:11Caleb Hammer?

  Like an actual.

• 0:12Speaker 01

  Yeah.

• 0:12Caleb Hammer?

  You're a wimpy little crybaby. What about your kids?

• 0:16Speaker 01

  They're there.

• 0:17Caleb Hammer?

  You're gonna fuck them up.

• 0:19Speaker 01

  Yeah.

• 0:20Caleb Hammer?

  You're gonna ruin them.

• 0:22Speaker 01

  Hi, my name is Cole. I'm 29 years old, from Dallas, Texas, and this is Financial Audit.

• 0:30Caleb Hammer?

  Cole, Cole, Cole.

• 0:33Caleb Hammer?

  The amount of spending that is on the spreadsheet in front of me. I went through your documents, I saw your documents, I lined some things, I saw some lines, but I didn't make the spreadsheet. Our lovely producer Jake made the spreadsheet, and the absolute spending.

• 0:49Speaker 01

  It's great.

• 0:49Caleb Hammer?

  That you are apparently capable of is

• 0:55Caleb Hammer?

  one of the most ridiculous things I have ever seen in my life, my guy.

• 1:01Speaker 01

  It's impressive.

• 1:03Caleb Hammer?

  What do you do in Dallas for a living?

• 1:05Speaker 01

  I'm paramedic.

• 1:06Caleb Hammer?

  Okay. It's not the highest paying job, is it? Yeah, well, how much are you making?

• 1:12Speaker 01

  Well, so I technically have two different rates. I have a day rate and a 24 hour rate.

• 1:17Caleb Hammer?

  Sure.

• 1:17Speaker 01

  But my primary rate is 20, 50 an hour.

• 1:20Caleb Hammer?

  20, 50 an hour, okay. What would you say you bring in on a monthly basis?

• 1:24Speaker 01

  Take home is around 5,500.

• 1:26Caleb Hammer?

  Is that on average? Actually, that's not bad. Wait, how many hours a week do you work?

• 1:30Speaker 01

  Between 72 and 86.

• 1:31Caleb Hammer?

  Oh, good.

• 1:32Speaker 01

  Yeah.

• 1:33Caleb Hammer?

  Wait, how do you even have time to spend all the money that we're about to get through?

• 1:36Speaker 01

  I don't know. It just, it just comes in and goes out as fast as I made it.

• 1:39Caleb Hammer?

  I guess so. So 5,500, okay.

• 1:44Speaker 01

  Take home.

• 1:45Caleb Hammer?

  Take home, for sure. Um, and that's not necessarily bad at all by any means. Uh, what's the life situation? You're 25. Is there anyone else in the life? Huh? 29, sorry, that's what I meant. Is there anyone else in the life right now? Any dependents on this?

• 2:03Speaker 01

  I have a wife and three kids.

• 2:05Caleb Hammer?

  Oh, well, what are the kids' ages? Okay.

• 2:06Speaker 01

  Uh, my stepdaughter is 11, and then my two boys we have together are six and three.

• 2:13Caleb Hammer?

  It's a lot to support.

• 2:14Speaker 01

  Yeah.

• 2:15Caleb Hammer?

  I can get expensive, especially in Dallas of that fifty-five. So what is going on here, man? Because again, the spending is ridiculous. What is going on? What are we looking at today? What is coal?

• 2:27Speaker 01

  Coal is a is a big spender because I don't like to tell my wife and my kids no. And so they're like, oh, if we want this, we want that. Like, I'm like, all right, cool. I'll get it.

• 2:37Caleb Hammer?

  What happens if you say no?

• 2:39Speaker 01

  They get upset and I don't want to deal with a crying, screaming child.

• 2:42Caleb Hammer?

  The wife cries, screams?

• 2:44Speaker 01

  Oh, no, no, no. My wife, my wife is like, if we can't afford it.

• 2:47Caleb Hammer?

  So just the kids? Eleven, six and three?

• 2:50Speaker 01

  Mm-hmm.

• 2:50Caleb Hammer?

  The eleven-year-old too?

• 2:52Speaker 01

  Eleven-year-olds, yeah.

• 2:53Caleb Hammer?

  Huh?

• 2:54Speaker 01

  She's, well, she's eleven, so she has an attitude.

• 2:57Caleb Hammer?

  Huh, it looked like you were gonna say something else for a second?

• 2:59Speaker 01

  No, but it's it's one of those things like, I feel like I want to provide as much as I can for my family.

• 3:08Caleb Hammer?

  And you are.

• 3:08Speaker 01

  Yeah, and so in my, the way my brain works is like, if we, my wife is like, are you sure we can afford it? I'm like, yeah, yeah, sure. I'll just work a couple extra shifts.

• 3:17Caleb Hammer?

  Okay, well, that's on you then. If you say, well, yeah, we can, when, well, no, we can't.

• 3:23Speaker 01

  But I don't want to say that.

• 3:24Caleb Hammer?

  No, but you do say it.

• 3:27Speaker 01

  Not really. I like.

• 3:30Caleb Hammer?

  Oh, no, no, but you do say, yes, we can, though.

• 3:33Speaker 01

  Yeah.

• 3:33Caleb Hammer?

  But that's incorrect.

• 3:34Speaker 01

  Right, but I don't want to tell them that, no, we can't afford it.

• 3:38Caleb Hammer?

  So when you tell them we're gonna lose the house, that's gonna be an easier conversation than saying, no, we can't get Mickey D's?

• 3:45Speaker 01

  Well, no, because I'll just work more if we.

• 3:47Caleb Hammer?

  Okay, I'm sorry. No, no, no, let's be honest. Let's be very real. You're kind of pushing yourself to the human extreme in terms of the kind of physical work you're doing, in terms of hours a week. I'll just work more is starting to become not an option for you, unlike many of the guests on the show.

• 4:03Speaker 01

  Right.

• 4:04Caleb Hammer?

  Yeah, so no, that's an incorrect answer.

• 4:07Speaker 01

  Yeah, I spend well outside of what I make or we make.

• 4:12Caleb Hammer?

  Yeah, but what you just said was incorrect. I will just work more. No, you can't almost basically.

• 4:18Speaker 01

  I mean, I can.

• 4:19Caleb Hammer?

  No, it starts getting dangerous and you're responsible for other people's lives in this situation. If we start pushing you to a hundred, man, I mean, come on, that's scary.

• 4:29Speaker 01

  I mean, yeah, but I've also started like a couple of side businesses. Well, I've started a side business and then.

• 4:34Caleb Hammer?

  A hundred sixty eight hours a week. I mean, you're doing, you're working half of the hours that exists in the week already. Like this starts getting scary. Then you have side businesses. What do you have?

• 4:44Speaker 01

  Yeah. So just to backtrack a little bit. So like my, my hours, they're, they're easier because they're 24 hour shifts. So like, if you break down the numbers, like last week I worked 72 hours.

• 4:52Caleb Hammer?

  Yeah, yeah, yeah.

• 4:54Speaker 01

  Yes, sure. You've got more days left. This week I worked seven, I'll work 72 hours.

• 4:58Caleb Hammer?

  You can still push your body to the max though, you know? Even still, like imagine five days of that in a row. They have the days off for a reason.

• 5:06Speaker 01

  Well, yeah, that's why you, that's for overtime.

• 5:08Caleb Hammer?

  But you're saying I can work more and might start getting bad for you, bad for your family and bad for the people you're taking care of.

• 5:17Speaker 01

  Right. But that's where the side business is coming.

• 5:19Caleb Hammer?

  Okay. So the side businesses, then go ahead.

• 5:21Speaker 01

  I started my own car detailing business.

• 5:24Caleb Hammer?

  You look like you would. Okay.

• 5:26Speaker 01

  Yeah, sure. It's fun. Like, like the OCD in me like really enjoys it. Like you're taking like a dirty nasty car.

• 5:32Caleb Hammer?

  Oh, I love those TikToks. I, yeah, oh, yeah.

• 5:35Speaker 01

  They're just like visually satisfying.

• 5:37Caleb Hammer?

  How do you have time for that though? Cause I mean.

• 5:39Speaker 01

  I wish I knew. I mean, I.

• 5:40Caleb Hammer?

  Do you have time for it? What's coming in with that? How's this? How long have you been doing it?

• 5:45Speaker 01

  Since July and I've done in totality, I've done like six or seven cars.

• 5:50Caleb Hammer?

  Okay. So this is pretty, pretty mad.

• 5:53Speaker 01

  Yeah. Cause it's just right now. It's like free advertising. It's like Facebook, Nextdoor, texting friends, like call me if you need me type stuff.

• 6:00Caleb Hammer?

  So this is hardly a side business even. It's almost sounds like a family, friends.

• 6:06Speaker 01

  Yeah, but I'm trying to, the goal is to grow it.

• 6:10Caleb Hammer?

  So how would you grow it, working eighty hours a week, trying to make sure people don't die on the way to the hospital?

• 6:16Speaker 01

  Fit it in somewhere. There's, there's small.

• 6:18Caleb Hammer?

  No, real, realistic answer. Come on, guy.

• 6:20Speaker 01

  I think I could.

• 6:21Caleb Hammer?

  This is a dream. Give me real.

• 6:22Speaker 01

  I could comfortably do a one car a week if like my schedule was full.

• 6:26Caleb Hammer?

  But you have to align with the people who want to get the car cleaned schedule as well.

• 6:30Speaker 01

  Right, yeah, but working only two to three days a week, I've got those four days.

• 6:35Caleb Hammer?

  Absolutely.

• 6:36Speaker 01

  Fit one in somewhere.

• 6:37Caleb Hammer?

  Which I hope they're okay with those four.

• 6:40Speaker 01

  That's true. It's usually a lot of people, they'll call me. I've only had one guy call me and say, hey, I need it done today.

• 6:46Caleb Hammer?

  What do you charge for a full, full service?

• 6:48Speaker 01

  It depends on the size of the vehicle.

• 6:49Caleb Hammer?

  Uh, midsize sedan. Uh, no, no, no, midsize SUV.

• 6:53Speaker 01

  Three rows or two?

• 6:54Caleb Hammer?

  Two.

• 6:55Speaker 01

  Full details, two fifty.

• 6:57Caleb Hammer?

  Okay, how many hours does that take you?

• 6:59Speaker 01

  Roughly two, two and a half.

• 7:01Caleb Hammer?

  Okay.

• 7:01Speaker 01

  Unless there's like.

• 7:02Caleb Hammer?

  But you've done seven since July. Okay, in the other side hustle?

• 7:08Speaker 01

  Um, I just partnered up with a buddy of mine that works at a car department, um, doing roof sales and patio extensions.

• 7:15Caleb Hammer?

  Okay, what the?

• 7:17Speaker 01

  It's a, I'm all over the place.

• 7:19Caleb Hammer?

  It's not necessarily a. It almost feels like your spending looks like that we're about to get into. Your spending looks like you think you're making a lot of money on those other jobs as well. Coming in, like you're pretending like you've already made it in those jobs. I assume most of that's based on commission, right?

• 7:36Speaker 01

  Mm-hmm.

• 7:36Caleb Hammer?

  Roof sales.

• 7:37Speaker 01

  Yeah.

• 7:37Caleb Hammer?

  Whatever extension, okay? How's that been for how long? How are you doing?

• 7:43Speaker 01

  Employed there for a week.

• 7:44Caleb Hammer?

  Okay, so why? Why not put more effort towards that other thing anyway, especially if you're good at it and you like it? The detail.

• 7:51Speaker 01

  I haven't been put into a spot yet to be able to like, I really would like to be able to.

• 7:56Caleb Hammer?

  But you're taking time away when you're going and trying to do this extra third side hustle.

• 8:00Speaker 01

  Right, but that's really only busy during like storm season. That's like four months out of the year.

• 8:04Caleb Hammer?

  Of which you won't be doing detailing.

• 8:06Speaker 01

  But.

• 8:07Caleb Hammer?

  Losing clients, less focus on advertising, less focus on community building, keeping people in. A lot of people that, some people, if you get the right person that want to get their car detailed, maybe they want like a monthly appointment. Well, what happens when storm season comes around?

• 8:20Speaker 01

  Well, you got

• 8:21Caleb Hammer?

  That's a few months.

• 8:22Speaker 01

  I would agree. You gotta prioritize your repeats over brand new people, in my opinion.

• 8:27Caleb Hammer?

  Yes, but you won't be able to repeat when you're focused on the storms. It just feels very disjointed, things that aren't even in similar industries. It's just, why not focus on one that you know you enjoy and has showed at least seven successful actions behind closed sales?

• 8:43Speaker 01

  Cause I think I see the numbers behind roof sales.

• 8:45Caleb Hammer?

  The potential numbers. Come on, it's a potential number. I don't. What's the structure of this organization?

• 8:54Speaker 01

  Of what organization?

• 8:55Caleb Hammer?

  Cause let's just say, I don't think you're in any kind of multi-level. I don't think it is. Likely in roof sales, I've never heard of that. Could exist. I'm sure it exists in every industry, but even still, come on. Like, let's look at a multi-level for a second. They always show, look what our earners make. Look what our top salespeople make. Yeah, it's good. If you're able to full focus on it and make it an amazing thing, you're not able to. You work 80 hours a week doing this other thing. You want to work more hours, you say you work more hours, while also trying to do this car detailing thing. In order to get the numbers that you're likely trying to get, you're gonna be going door to door every single second of every single day trying to get it like a solar salesman. So, I don't know how you're gonna reach those numbers you want to do with the side side of a side hustle.

• 9:39Speaker 01

  Well, that's why it's a side side hustle, because it's like

• 9:41Caleb Hammer?

  But it shouldn't be, because I don't think you're gonna be able to build the relationships. For an actual true sales position, that man, you grind that to the ground. You grind the customer to the ground. You grind every single second of every single day. There is not a moment your phone is off. Your phone is off for 80 hours a week.

• 9:56Speaker 01

  Not really.

• 9:57Caleb Hammer?

  Really?

• 9:58Speaker 01

  In my pocket.

• 9:58Caleb Hammer?

  So if some dude is like, his heart's bursting out of his chest, you're like, hello, solar, this is cool with

• 10:04Speaker 01

  Stop having a heart attack. I gotta sell a roof real quick, yeah.

• 10:06Caleb Hammer?

  Yeah, but come on, real world.

• 10:08Speaker 01

  Yeah, no.

• 10:08Caleb Hammer?

  Like, there's a lot going on. Does that job actually make sense? Something where sales, sales is like, I don't know. That's like, you're locked in always for the customer.

• 10:18Speaker 01

  Yeah.

• 10:19Caleb Hammer?

  If you really want to do it. And I don't think you have the time.

• 10:22Speaker 01

  I have the time.

• 10:23Caleb Hammer?

  You, no.

• 10:24Speaker 01

  Yes, I do. I only work three days a week.

• 10:26Caleb Hammer?

  I get that, but again. The time you have to dedicate to something like that is always and there are days where you're off for 24 hours. And then there's times where you're detailing cars and trying to make, how is this not making sense, guy?

• 10:40Speaker 01

  Cause I have enough time.

• 10:41Caleb Hammer?

  Oh my, do you not understand the point I'm trying to say?

• 10:46Speaker 01

  I do. You saying I'm working.

• 10:47Caleb Hammer?

  But then why do you come back with the, I have time?

• 10:50Speaker 01

  I do.

• 10:51Caleb Hammer?

  But those other days that you can't exist in.

• 10:56Speaker 01

  Right.

• 10:57Caleb Hammer?

  In the sales world. That's only, oh my.

• 11:02Caleb Hammer?

  Okay.

• 11:05Caleb Hammer?

  Well, it's clearly you're in that position where you saw a number, you saw the potential earnings, you're more excited about that. You live in the world of delusion instead of the real world. For that situation, you've only done it for a week, so I'm not surprised it'll bite you in the, we'll see. So payroll that came in 5,700, Zellin in 480 Twitch, you stream?

• 11:26Speaker 01

  Occasionally.

• 11:27Caleb Hammer?

  This is so weird. I talked to like three streamers in a row all of a sudden.

• 11:30Speaker 01

  I had one big month, um, when.

• 11:33Caleb Hammer?

  What do you stream? You apparently have, do you ever see your kids?

• 11:37Speaker 01

  Yeah.

• 11:38Caleb Hammer?

  Like when, what, when you pass them?

• 11:40Speaker 01

  No, I.

• 11:40Caleb Hammer?

  Leaving the door and going to the man cave?

• 11:42Speaker 01

  I pick them up from school. I'll take them to school on my days off and.

• 11:45Caleb Hammer?

  Is that it?

• 11:45Speaker 01

  We have dinner.

• 11:46Caleb Hammer?

  The car rides?

• 11:47Speaker 01

  No, we have dinner together.

• 11:48Caleb Hammer?

  I don't understand how you even have this extra time. How much, how much time do you put into Twitch?

• 11:52Speaker 01

  Not much.

• 11:52Caleb Hammer?

  It was only 316 dollars, but even still, people put dozens, dozens of hours into Twitch and get zero dollars.

• 11:59Speaker 01

  I haven't streamed in over a month. That's from one month where I got like a hundred subs and like that was it.

• 12:04Caleb Hammer?

  Well, either way, oh, what's the Zellin of 480?

• 12:07Speaker 01

  That's a car.

• 12:08Caleb Hammer?

  Okay, so 6,500 came in total. You're probably not setting money aside for Twitch, even though there's not much, or setting money aside for taxes for the cars either, right?

• 12:18Speaker 01

  Well, cause it hasn't turned a profit yet.

• 12:21Caleb Hammer?

  Yeah, but you still, okay. Are you going to be able to adequately claim everything as, as the finances organized?

• 12:27Speaker 01

  Yeah, I've got receipts and everything of all my purchases in town and stuff like that.

• 12:30Caleb Hammer?

  Good. Same with the Twitch, hasn't made a profit?

• 12:34Speaker 01

  That's the only profit.

• 12:36Caleb Hammer?

  Ever? Oh, okay.

• 12:37Speaker 01

  Yeah.

• 12:37Caleb Hammer?

  Okay. So, well, six thousand five hundred came in and that's more than normal. How much went out? How much was spent?

• 12:44Speaker 01

  Probably a penny shy of that went out that month.

• 12:48Caleb Hammer?

  A penny shy in which way?

• 12:50Speaker 01

  Like I brought in, I brought in whatever, what'd you say?

• 12:52Caleb Hammer?

  Six thousand five hundred, five thousand two cents.

• 12:54Speaker 01

  Yeah, I probably spent six thousand four hundred.

• 12:56Caleb Hammer?

  Okay, eleven thousand five hundred cents. I don't think you understand your life. Again, I think you think you're already successful in all these other things that you can spend like you are. You're not. The spending's insane, guy. It's almost double. It's almost double.

• 13:12Speaker 01

  That's bad.

• 13:12Caleb Hammer?

  Yeah, it's bad. What about your kids? What about your kids?

• 13:17Speaker 01

  They're there.

• 13:18Caleb Hammer?

  They're there, but they're not gonna have a good, they're not gonna have any kind of college fund, they're not gonna have, you're not gonna retire. It's like, they're there, but,

• 13:28Caleb Hammer?

  I don't know, their future's kind of getting put on hold. And you're like, listen, I just hope this is because you're excited to be on the show. I hope it's maybe a cope thing, but just sitting there and just kind of smirking the whole time.

• 13:38Speaker 01

  It's a cope.

• 13:38Caleb Hammer?

  Okay, good.

• 13:39Speaker 01

  Hundred percent.

• 13:40Caleb Hammer?

  I always have to call it out because I know it doesn't feel like it is from the audience perspective. They're always like, why, why is Caleb calling someone out for laughing? I get it. When I just see this person sitting across from me the whole time and they're like,

• 13:51Speaker 01

  This look? Yeah, it's, it's a cope.

• 13:53Caleb Hammer?

  I'm just like, what the is this person not taking it seriously because we put so much energy and time into this? Uh, and most of the spending, by the way, is on credit. It's debt.

• 14:01Speaker 01

  Yep. I'm really good about getting rid of all my debt and then replacing it right back.

• 14:07Caleb Hammer?

  What does that mean?

• 14:08Speaker 01

  So,

• 14:08Caleb Hammer?

  In what ways?

• 14:09Speaker 01

  I've knocked out my debt completely twice in the last six years.

• 14:15Caleb Hammer?

  Anyone currently struggling with that? You're not alone. I've been there and I've especially seen friends and family go into debt over the holidays, spending over flights, gifts, and even vacations. And once you're in that cycle, it's tough to break out. You've been making payments every month, but somehow that balance barely shrinks. That's where the sponsor and my friends over at PDS Debt comes in. They create a personalized plan that helps you pay down your debt faster and save more while you're at it. If you're already making payments each month, And barely seeing progress, PDS Debt has solutions to help you pay off your debt in a fraction of the time it would normally take. And here's the best part, if you have $10,000 or more in eligible debt, you qualify and there's no minimum credit score required.

• 14:57Caleb Hammer?

  So no matter where your credit is at, PDS Debt can help. Start planning today. Get a free debt analysis right now at PDSDebt.com/Kaleb. It only takes 30 seconds. That's P D S D E B T dot com slash Caleb. Your free debt analysis is just a few clicks away. So head to PDSDebt.com/Kaleb today. It's never too early to take control of your financial future.

• 15:20Speaker 01

  And then

• 15:21Caleb Hammer?

  How? Wiped out? How?

• 15:24Speaker 01

  A few years ago, I did a debt consolidation loan. So like

• 15:27Caleb Hammer?

  Okay, well, that's not wiping out.

• 15:28Speaker 01

  Right. But like I emptied out all my credit cards and had the loan, but then I reaccrued all my credit cards while still having the debt consolidation loan.

• 15:35Caleb Hammer?

  Classic. Yeah, this happens every time.

• 15:38Speaker 01

  Yeah. And then in March, um, we bought and sold.

• 15:40Caleb Hammer?

  March of this year?

• 15:41Speaker 01

  Yeah, we bought and sold our house. So.

• 15:46Caleb Hammer?

  Okay, you didn't buy and sell within one month.

• 15:49Speaker 01

  I bought, I, sorry, I sold my house to buy my current home.

• 15:53Caleb Hammer?

  Okay.

• 15:53Speaker 01

  Sorry. Yes. So we had bought a home in 2020 back when rates and markets were low.

• 15:58Caleb Hammer?

  Oh, yeah.

• 15:59Speaker 01

  So I bought a house for 240. Um, and then when we sold it in March, I only owed 210 and sold it for 350.

• 16:06Caleb Hammer?

  Woo. Yeah, love it.

• 16:08Speaker 01

  Yeah, it was great. And then turned it around and bought this home. Um, sticker price was 410, was able to do 20% down and then paid off like half of our debt.

• 16:20Caleb Hammer?

  Do you not understand the mistake you made both times? Cause it won't matter if we pay this off. Do you not understand it? This is what everyone struggles with because I've had so many people that have paid off debts on the show and then repeat the cycle. You not understand?

• 16:34Speaker 01

  Understand what?

• 16:35Caleb Hammer?

  If you don't change the behavior before you get out of debt, you took two shortcuts. One was from position of equity from an investment that you gained. That is good. Good job on that one. The other one was a consolidation. That doesn't count. That's not a reward. That was not any progress. That's not an accomplishment. But either way, you, if you don't actually fix the behavior and the emotions around finances and anything that actually got you there in the first place. If you go and take those shortcuts, one earned, one not, it doesn't matter either way. The debt gets back. You never got out of debt by earning and grinding it out. You had an investment that paid off. Again, I'm not against that as a whole. But you never changed your behavior, got out of debt by actually fixing your finances.

• 17:17Caleb Hammer?

  So if we get, if we get another shortcut that gets us there again and pays it off for a third time in six years, it won't matter because you'll get there again.

• 17:24Speaker 01

  Yeah. And then to top it off with the house, with the house I have. So the house that we bought in 2020 was, uh, like just a D R Horton spec home.

• 17:36Speaker 01

  Like

• 17:36Caleb Hammer?

  Well, I actually don't know what that

• 17:38Speaker 01

  So D R Horton is the builder.

• 17:39Caleb Hammer?

  Yeah, it's just one of those like

• 17:40Speaker 01

  Spec home, you just pick your lot and the floor plan.

• 17:43Caleb Hammer?

  Yeah.

• 17:43Speaker 01

  And then they build whatever, like you don't get to pick anything, no colors.

• 17:47Caleb Hammer?

  Are they just like a, like a cheap builder?

• 17:49Speaker 01

  Mm hmm.

• 17:50Caleb Hammer?

  Oh, okay.

• 17:50Speaker 01

  Very cheap.

• 17:51Caleb Hammer?

  Yeah.

• 17:51Speaker 01

  And so we vowed from when we sold that home that we would never buy another D R Horton home again.

• 17:56Caleb Hammer?

  Why? It was bad?

• 17:57Speaker 01

  It's just piss poor quality. The builder didn't give a [bleep]. So from frame to move in was like 90 days.

• 18:04Caleb Hammer?

  Wow.

• 18:05Speaker 01

  It's ungodly fast.

• 18:07Caleb Hammer?

  Oh, you still got a great incredible equity position when you sold it.

• 18:09Speaker 01

  Yeah. So then we had so many like foundational problems and just all kinds of problems with the house.

• 18:15Caleb Hammer?

  Okay, foundation you can repair and get a warranty around it though, but even still, go ahead.

• 18:18Speaker 01

  Yeah. And but they're like arguing with D R Horton to fix anything, you'd have better luck arguing with this wall.

• 18:24Caleb Hammer?

  Hmm. Yeah. Cause most new homes have a year or two warranty or something.

• 18:27Speaker 01

  And so we sold that home and they were like, we're never going to buy a D R Horton home again or forever.

• 18:31Caleb Hammer?

  Something tells me you bought a D R Horton home.

• 18:34Speaker 01

  Well, don't beat me to the punchline.

• 18:35Caleb Hammer?

  Well, you keep setting it up.

• 18:37Speaker 01

  So this house that we bought was built in oh nine, back when, you know, people actually, what I thought gave a building houses. Well, my wife.

• 18:44Caleb Hammer?

  Much has changed. Okay.

• 18:46Speaker 01

  My wife going through, like, I guess, like, the tax records of the old home, found that it was also built by D R Horton.

• 18:52Caleb Hammer?

  Uh huh.

• 18:53Speaker 01

  And so with that, we have now discovered that they built this house incorrectly.

• 18:57Caleb Hammer?

  What's incorrectly? How do you build an a- a house incorrectly? What do you mean?

• 19:00Speaker 01

  I wish, I wish I knew, but.

• 19:02Caleb Hammer?

  Why? It's been around for almost a couple of decades. So like, what, what is built incorrectly? What are you talking about?

• 19:07Speaker 01

  The siding of my, one of the siding strips on my house has fallen off. Because the wood in between the siding and the frame of the house has rotted away from water damage because they didn't put correct flashing and caulking and around where they were supposed to. So now I have to have that fixed. And it's one.

• 19:26Caleb Hammer?

  Oh, these are ongoing expenses right now?

• 19:28Speaker 01

  Yeah.

• 19:28Caleb Hammer?

  Oh.

• 19:29Speaker 01

  So I have to have, I had a, uh, the guy who works for the roofing company come out and inspect that one spot. And he's like, I can fix this now, but I'm more afraid of like, what else is wrong? And so he's gonna come back.

• 19:43Caleb Hammer?

  How detailed was your home inspection? I know they don't necessarily always get into walls, but you can really get some deep looks.

• 19:49Speaker 01

  The exterior of the home looked fine.

• 19:51Caleb Hammer?

  Looked.

• 19:51Speaker 01

  When we bought it.

• 19:52Caleb Hammer?

  You didn't really have anyone go deep dive and drill a little hole, look anywhere.

• 19:55Speaker 01

  My.

• 19:56Caleb Hammer?

  I always go crazy. I pay a lot for my inspections.

• 19:58Speaker 01

  My, well, our inspection was five hundred bucks, but.

• 20:01Caleb Hammer?

  That's normal.

• 20:01Speaker 01

  It was our realtor's inspector and.

• 20:04Caleb Hammer?

  Usually they're okay, but that's like, ju- general.

• 20:08Speaker 01

  Yeah, but like, if you looked at the outside of peeling apart the boards, which I don't think a normal inspector would do, you wouldn't have seen it anyways. Probably. Cause it was intact and in good shape when we bought it. And then just ironically enough, after we bought it, it fell apart. And so my inspector's gonna come back next week to look at like, the, like, he's gonna pull apart some of the siding and look to see the real extent of the damage. To see if I have to have an insurance claim or not.

• 20:33Caleb Hammer?

  Okay. Well, I hope so on that. Have you gotten a quote of what this is gonna cost?

• 20:38Speaker 01

  He's working on.

• 20:38Caleb Hammer?

  Cause again, you already spent double what you make, so I don't know how you're gonna spend more.

• 20:42Speaker 01

  Yeah, so he's working on the quote for just the quick fix, which said it should only be, I say only, but.

• 20:46Caleb Hammer?

  Is a quick fix smart?

• 20:48Speaker 01

  I don't think so. It just depends on the extent of the.

• 20:51Caleb Hammer?

  Looking at that.

• 20:52Speaker 01

  It just depends on the extent of the rest of the house.

• 20:54Caleb Hammer?

  So you spend double what you make, most of it on credit.

• 20:57Speaker 01

  Mm hmm.

• 20:58Caleb Hammer?

  Where do you think, honestly, honest self-assessment, I want to see where your brain is, think you are zero to 10s, zero being the worst finances, 10 being the best finances, where do you think you are?

• 21:08Speaker 01

  Like a 1.5.

• 21:09Caleb Hammer?

  Okay, thank you. If you want your Hammer Financial Score, it's free, link in the description below, see where you stand. And if you want to come down here to Austin, Texas, come hang out, it's fun. I'll yell at you, but then you'll also become friends with our really nice producers. And then I'll yell at you, we'll have you in Austin, Texas, it'll be a good time. You have fun so far?

• 21:25Speaker 01

  Yeah.

• 21:26Caleb Hammer?

  I appreciate you coming down. So it's a good, it's a good time. Gail at Hammer.com/apply. Check it out.

• 21:30Speaker 01

  It's an easy drive.

• 21:32Caleb Hammer?

  Oh, you came from Dallas, sure. Yeah. I mean, people come from like,

• 21:37Caleb Hammer?

  anywhere. But yeah.

• 21:38Speaker 01

  Nowhere else matters other than Texas, so it's okay.

• 21:41Caleb Hammer?

  Chase, Amazon card. Is this an Amazon addicted household?

• 21:46Speaker 01

  It's a shared account. So like,

• 21:49Caleb Hammer?

  That's why I'm asking.

• 21:50Speaker 01

  Yeah, yeah. To answer your question, yeah. So me and my wife use the Amazon card and then my parents use the Amazon account.

• 21:57Caleb Hammer?

  Your parents, where you?

• 21:58Speaker 01

  No, they use the Amazon account.

• 21:59Caleb Hammer?

  Okay.

• 22:00Speaker 01

  Um, but,

• 22:01Caleb Hammer?

  Well, why?

• 22:02Speaker 01

  They're, they're old, so maybe sometimes one of my purchases gets on, or one of their purchases gets on my card, but it's really not a big deal.

• 22:09Caleb Hammer?

  What do you mean it's not a big deal? Again, you spend double what you make. Now we have a home repair that we probably cannot afford.

• 22:13Speaker 01

  Right.

• 22:13Caleb Hammer?

  If insurance doesn't cover it. So I think it kind of does matter if old people are using our money that we don't have.

• 22:20Speaker 01

  Well, if they do it on accident, they'll send me the money for it.

• 22:22Caleb Hammer?

  Okay. Oh, that's not a huge issue then. I mean, I don't know why they can't use their own account just to be safe?

• 22:33Speaker 01

  I mean, their cards on the account. Like they have their own cards and stuff that they need to use on the account.

• 22:38Caleb Hammer?

  Okay. Just feels like extra confusion and hassle for no reason.

• 22:42Speaker 01

  Grandfathered in with the super cheap Amazon Prime price, because I've had Prime for, since Prime was a thing.

• 22:48Caleb Hammer?

  I get, I get it. Okay. $3,721.21 on here. $97 minimum to pay in. Not cheap, not cheap. See, again, here it is. This must be the spending. $1,355 on a card when you have kids to take care of that 11 year old. What's their plan to college? Do you, not their plan, they wouldn't know. Do you want to pay for their college? You want them to have a fund? Do you want anything to be done? If they're going to go to college, who knows? What are your plans? What do you want for their future? Because again,

• 23:22Caleb Hammer?

  You only put the minimum payment towards it, which at the time was seventy eight dollars, I think. And then a thousand three hundred fifty five dollars was spent on a car that is accruing sixty dollars and seventy eight cents in interest, interest, and you're not even coming close to paying it off.

• 23:37Speaker 01

  Nope.

• 23:38Caleb Hammer?

  You're not even coming close. It's not even an objective here with your behavior. So what are your plans for these kids? Do you, what do you want for them? Because right now you're not getting them anywhere except for good luck. Once you push them out the house.

• 23:50Speaker 01

  Yeah, with the eleven year old, she's infatuated with animals. So she'll

• 23:55Caleb Hammer?

  For now, she's eleven.

• 23:56Speaker 01

  For now, yeah. So, I mean,

• 23:58Caleb Hammer?

  I'm asking what plans do you have to set them up if you choose to in any way?

• 24:03Speaker 01

  There is a one right now because we just can't afford to make a plan.

• 24:07Caleb Hammer?

  But that's you. That's your choice.

• 24:10Speaker 01

  Yeah, I mean, eh, like,

• 24:13Caleb Hammer?

  What do you mean you can't afford? You can.

• 24:16Speaker 01

  I mean, it's there somewhere. I'm sure.

• 24:18Caleb Hammer?

  No, no, no, you can afford it. You are choosing not to. What's your mortgage payment?

• 24:22Speaker 01

  Thirty two fifty.

• 24:23Caleb Hammer?

  Oh.

• 24:25Speaker 01

  Yeah.

• 24:26Caleb Hammer?

  Oh, for, wait, why did you guys solve this and get this? That's

• 24:32Caleb Hammer?

  Oh.

• 24:33Speaker 01

  Everything

• 24:34Caleb Hammer?

  Oh, this is the definition of house poor. Maybe you don't have the money. Oh. So you said thirty four?

• 24:40Speaker 01

  Thirty two fifty.

• 24:41Caleb Hammer?

  Thirty two fifty for

• 24:44Caleb Hammer?

  sake.

• 24:48Caleb Hammer?

  Oh, it's sixty percent. That's not a joke, man. That's literal dangerous. That is scary and you don't need to be doing that in Dallas, that kind of percentage.

• 24:58Speaker 01

  Six and a quarter.

• 25:01Caleb Hammer?

  Huh?

• 25:02Speaker 01

  My mortgage, my interest rate, six and a quarter.

• 25:04Caleb Hammer?

  Okay.

• 25:07Speaker 01

  It was better than what was

• 25:08Caleb Hammer?

  It's okay. Sixty percent of your income.

• 25:11Speaker 01

  Yeah.

• 25:12Caleb Hammer?

  I don't give a the interest rate is sixty percent of your income, sixty percent of your income. Regardless of what the interest rate is, it could be twenty, it could be zero. Actually, twenty would be horrible, but either way, either way, it's sixty percent of your income.

• 25:24Speaker 01

  Yeah.

• 25:24Caleb Hammer?

  Man, that is dangerous. That is, I was kind of joking at the beginning when I say, well, what are you gonna do when you come to your wife and say, I got a four thousand, now are we at the move? Now it becomes real.

• 25:33Speaker 01

  Yeah.

• 25:34Caleb Hammer?

  Now it becomes real, man. Get hurt, you're done.

• 25:38Speaker 01

  Yeah, that's

• 25:39Caleb Hammer?

  You're done. Yeah, and you're always going, doing something. And you're gonna try to be a professional skydiver next month or something with how you do things. You're onto the next thing every second of every life. Everything has to be a side hustle, a side hustle, a side hustle.

• 25:52Speaker 01

  Yeah.

• 25:52Caleb Hammer?

  Man, so I don't know. That's insane. So, for fuck's sake, you're right. You probably can't afford to set them up, cuz if our needs are already at sixty percent without anything other than the roof over our head. Gosh.

• 26:09Speaker 01

  Everything with my last house to this house is doubled.

• 26:12Caleb Hammer?

  Why'd you guys sell and move?

• 26:14Speaker 01

  We didn't, we were out, we had, we had outgrown our home.

• 26:18Caleb Hammer?

  You're behind on your fucking HOA? Ah, they're gonna start telling fleas against you.

• 26:26Caleb Hammer?

  So, what were you saying?

• 26:28Speaker 01

  That's only because

• 26:29Caleb Hammer?

  What were you saying?

• 26:30Speaker 01

  Okay, so to go back to the house.

• 26:31Caleb Hammer?

  Yeah.

• 26:32Speaker 01

  So, everything with the house doubled because we, we bought in twenty twenty and we owned a four two eighteen hundred square foot. And then we had our third kids and then we were at max capacity in the house and there was just no room for like all of us, the kids and all their stuff.

• 26:45Caleb Hammer?

  There was room.

• 26:48Caleb Hammer?

  Remember everything you want, but come on, people did eight kids in like seven hundred square feet, like a hundred years ago. There was room.

• 26:54Speaker 01

  Yeah, and so we sold and bought and then this house is thirty one hundred square foot.

• 27:00Caleb Hammer?

  What? That was the only reason? That was it?

• 27:02Speaker 01

  Needed more space.

• 27:04Caleb Hammer?

  You didn't need the word literal need. You did not need, you wanted.

• 27:10Speaker 01

  It was a need, it was a needful want.

• 27:12Caleb Hammer?

  I'm sure there were some annoyances. But people have done it since forever. You would have been okay. This is the like classic American entitlement with space. Which, great if you can afford it. If you can't, you did not need it. To be very clear. And now you've put your, what was your mortgage payment then?

• 27:30Speaker 01

  Uh, eighteen fifty.

• 27:35Speaker 01

  At three percent.

• 27:40Caleb Hammer?

  You want from a relatively proper thirty percent of your income? Relatively. Could be a little high depending, but in Dallas, I'm okay with it.

• 27:51Speaker 01

  To sixty percent. I don't think you understand how bad this is just looking at you. Oh, no, I do. It's just nervous.

• 28:02Caleb Hammer?

  Okay.

• 28:02Speaker 01

  Yeah, trust me.

• 28:03Caleb Hammer?

  Reminder, every single person that comes on this show is not used to be in front of the camera. So I get it. It's fine.

• 28:09Speaker 01

  It it's one of those like it's always every day I think about it.

• 28:15Caleb Hammer?

  What's your square footage now?

• 28:17Speaker 01

  Thirty one hundred.

• 28:18Caleb Hammer?

  Oh, you did really go up. Okay.

• 28:20Speaker 01

  Everything doubled.

• 28:20Caleb Hammer?

  What was the price of the house you got now?

• 28:23Speaker 01

  Four ten. Twenty percent down.

• 28:25Caleb Hammer?

  How suburban? How far from core?

• 28:29Speaker 01

  Five minutes. I'm still.

• 28:30Caleb Hammer?

  Whoa, you're right up into downtown.

• 28:33Speaker 01

  I'm really inner city.

• 28:34Caleb Hammer?

  Gosh, I can't. Because of Austin, I can't imagine anything being close to town. I mean, less than half a million. That's crazy. That's crazy talk. Not even a lot of land here goes for like less than a million, five minutes from downtown. That's crazy. Okay. Wow. Well, good for you guys on that part, but.

• 28:52Speaker 01

  It's very inner city. Everything, anything and everything we would need is a ten minute drive.

• 28:57Caleb Hammer?

  No, that's great. Um, and your house is a five minute existence from being taken from you. Literally, if anything goes wrong.

• 29:06Speaker 01

  But back to the HOA.

• 29:07Caleb Hammer?

  You have savings, right?

• 29:09Speaker 01

  Not anymore.

• 29:12Caleb Hammer?

  You don't know, you don't, the the position you've put your kids in. It's not a joke. I'm not around. There is nothing here. No entertainment factor required in this thing. You don't know the dangerous position you've put your family in. This is scarier than you could possibly imagine. It is irresponsible. Irresponsible, scary, death, ruining your family, putting your kids through trauma. Because they don't know. I grew up with seeing four calls or notices a couple of times on the house. Okay, luckily they were able to beat through it. That stick with me, stuck with me. And one of the reasons why I care about being good with finances today, but. Take that the wrong way, or make it get worse, or if they take it the wrong way,

• 29:56Caleb Hammer?

  or you have it worse than my parents did, and you don't make it through? Because you've already pushed yourself to like, basically the human limit, let's be honest. You're gonna them up.

• 30:07Speaker 01

  Yeah.

• 30:08Caleb Hammer?

  You're gonna ruin them. Then they're gonna go from that to a four, four, five, six, seven hundred square foot apartment. And then if you think you didn't have enough space before, then you will. And that's all because of your consequences, because you thought you needed something that you've actually put yourself into a position. Now you don't have savings and you're behind on your HOA. Yeah, tell me about the HOA. 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

• 30:53Caleb Hammer?

  life, and then teach what specific investing strategies applies to you in that situation. And now finally, we have our debt program where I teach you the best ways to pay off debt, manage debt, and even take advantage of good debt. This has been a revolutionary project that we've been working on for over a year now. And just like over 10,000 people who've already taken our educational programs, you can now take advantage of all three of them bundled together at a 15% 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. This is crazy, man.

• 31:38Speaker 01

  They changed billing companies and didn't have, no, no, no, no, no. They didn't have our phone number or our email, and so we never were told.

• 31:45Caleb Hammer?

  They had your mailing address.

• 31:47Speaker 01

  They never mailed us a letter.

• 31:48Caleb Hammer?

  HOA always mails, they're obsessed with mailing.

• 31:51Speaker 01

  Okay. So I went up, because I went up to the office yesterday, um, and told them, because I knew that we were.

• 31:56Caleb Hammer?

  What are you behind? What are you behind?

• 31:59Speaker 01

  The due is 580.

• 32:02Caleb Hammer?

  For how long is that? Is it the annual, quarterly? What's your monthly?

• 32:06Speaker 01

  Semi, semi annually. So it's, it's 1100 a year.

• 32:11Caleb Hammer?

  You don't have that.

• 32:12Speaker 01

  Nope.

• 32:14Caleb Hammer?

  You ready for a lean?

• 32:15Speaker 01

  Nope.

• 32:16Caleb Hammer?

  People can lose their houses from HOA's. You're gonna lose your house in two ways. Mortgage and HOA.

• 32:20Speaker 01

  Yep.

• 32:20Caleb Hammer?

  That's really taking care of your family, guy.

• 32:23Speaker 01

  Yeah, we're stretched beyond thin.

• 32:25Caleb Hammer?

  No, you're spending like a moron.

• 32:30Speaker 01

  Yeah, I mean, my spending's been really drastically out of hand lately.

• 32:34Caleb Hammer?

  Why? When things are worse than ever?

• 32:38Speaker 01

  I wish I knew.

• 32:39Caleb Hammer?

  That's not an answer. Come on, what do you think? I want to see some self-report here. I want to sell some, uh, see some self-realization. Why do you think? So I can at least see where your mindset is today.

• 32:51Speaker 01

  I think it's just pure laziness. A lot of, a lot of the stuff we spend money on is food, like going out.

• 32:56Caleb Hammer?

  Oh, man, really?

• 32:57Speaker 01

  Going, going out is killer for us.

• 32:59Caleb Hammer?

  Oh, let me see.

• 33:00Speaker 01

  There's five of us.

• 33:00Caleb Hammer?

  Seven hundred and sixty-eight dollars going out to eat. You could have, you could.

• 33:04Speaker 01

  I thought it'd be a lot more, honestly.

• 33:05Caleb Hammer?

  Trust me, there's other categories. There are other categories. But seven hundred and sixty-eight dollars, first of all, that's it compared to your income. Come on. Seven hundred, uh, seven sixty-eight, five, five hundred. Come on, I mean, you spend fourteen percent going out to eat. That's already insane.

• 33:22Speaker 01

  Okay.

• 33:22Caleb Hammer?

  Right? If we're maxing our needs out at fifty percent, you already got sixty percent, but we're spending fourteen, fifteen percent going out to eat. Come on! That could have paid for your back HOA, and now you're not willing to do it, and you're willing to get a lean.

• 33:34Speaker 01

  I'm not willing to get a lean.

• 33:35Caleb Hammer?

  But you are. You literally are through your numbers because you spent the money on fast food or eating out or whatever that could have gone to that. So, yes, you are. You are willing to get a lean. Don't with me. You are. Your numbers say so.

• 33:54Caleb Hammer?

  And I actually do have rage behind this. I know you haven't done anything to piss me off, but I've raised behind this because your children are gonna be impacted more than you know, and that pisses me off because they have no say in this.

• 34:06Speaker 01

  Right. And then the interest coming out of these cards. I think I already said the numbers. Let's see.

• 34:12Caleb Hammer?

  Are you kidding me? Every line is highlighted. Every damn line is highlighted. That means it's all bull Things that don't matter. And no, this wasn't going out to eat. It's mostly Amazon because it's the Amazon card. Let me see your Amazon account. Go ahead, pull it up. And also some boardroom. These statements are hard to read. Blizzard, Sonic, Amazon, Golden Chicken, Amazon, Joy Donuts. Something video games. Come on!

• 34:38Speaker 01

  Do you want the Amazon account or the card?

• 34:40Caleb Hammer?

  I want to see the Amazon account. I want to see the things that were actually being purchased. And can you start a screen recording for us?

• 34:46Speaker 01

  Can't record a screen due to security policy.

• 34:49Caleb Hammer?

  An android, piece of

• 34:53Speaker 01

  A lot of, a lot of the purchases on here from my parents. So it's, it's like, it's the same account.

• 34:58Caleb Hammer?

  Well, I don't know what's what, but I'm telling you, there's a million bajillion Amazon purchases on there.

• 35:01Speaker 01

  Right, I know.

• 35:02Caleb Hammer?

  So you tell me as I call them out, okay?

• 35:06Caleb Hammer?

  I don't even know what any of this stuff is. They all look like bull Little, little things that you get from late night television ads.

• 35:12Speaker 01

  The thing at the top and then the following one. Nope.

• 35:16Caleb Hammer?

  Oh, of where I was?

• 35:17Speaker 01

  Yeah, yeah. So the thing at the top and then the following one, those are from me. So the top one is for my rifle and the one below it is for

• 35:23Caleb Hammer?

  Your rifle? You can't afford your mortgage. You're not going to shoot the bankers when they come.

• 35:29Speaker 01

  You're right, I'm not.

• 35:30Caleb Hammer?

  Yeah. So I don't think we need to be dealing with that. If you can't afford your mortgage, is your hobby really more important than your kid's life? No! Be a man! Or it's like a wooden or something. I'm hoping that's not for grandma.

• 35:43Speaker 01

  That's my parents.

• 35:48Caleb Hammer?

  What are all these little, whoa, it's like, oh, these are dog toys. I wonder why there's like gorilla things and just

• 35:53Speaker 01

  Yeah, so

• 35:54Caleb Hammer?

  Oh, hey, whoa, whoa, dogs!

• 35:56Speaker 01

  Our, our dogs.

• 35:57Caleb Hammer?

  Your dogs? Why do we need one, two, three, four, five toys when we can't afford our mortgage? In fact, there was two pack, three pack. So this is like 10 toys, 10 toys, but the dogs aren't going to have a house to live in, thank goodness. But guys, they have toys. They have toys when they live in a corner in the middle of nowhere because they get kicked out of their house?

• 36:15Speaker 01

  Cause they chew on around the house. So my wife bought them those.

• 36:18Caleb Hammer?

  Which is fair, but get two or three and redirect and work on training.

• 36:23Speaker 01

  And that's my own fault because she asked me, she said, I put all these dog toys apart and said, which ones do you want? I said, I don't care. Just buy them. And so she bought all of them.

• 36:32Caleb Hammer?

  Glass cleaner, leather cleaner.

• 36:33Speaker 01

  A lot of those are, the glass cleaner.

• 36:35Caleb Hammer?

  Oh my gosh, we have like the classic white mom things with these candles and the wine glasses with I'm fabulous ran on them.

• 36:42Speaker 01

  That's my mom.

• 36:43Caleb Hammer?

  Come on.

• 36:44Speaker 01

  So then there's like a chemical right there. That's mine. The bike my parents bought for my son. A lot of that, a lot of that is my parents.

• 36:53Caleb Hammer?

  Which is fine, but I saw your Amazon purchases. We had over a thousand dollars, wasn't it?

• 36:58Speaker 01

  Yeah.

• 36:58Caleb Hammer?

  Wasn't it? So.

• 37:01Caleb Hammer?

  Did you really need a camouflage JBL clip three waterproof speaker?

• 37:06Speaker 01

  I didn't buy it.

• 37:06Caleb Hammer?

  Who would buy that? Is Grandma buying camouflage speakers?

• 37:09Speaker 01

  Probably my sister.

• 37:09Caleb Hammer?

  You're the rifle guy.

• 37:10Speaker 01

  Probably my sister.

• 37:11Caleb Hammer?

  Why is your sister on here too? What is this? This is like pure Amazon incest.

• 37:15Speaker 01

  It's the, it's the family Amazon account.

• 37:18Caleb Hammer?

  Family, but it gets confusing, doesn't it? You don't know where purchases are. You got confused. Rist, the watch things and the music stand.

• 37:28Speaker 01

  The music stand is for the child because she's an orchestra.

• 37:31Caleb Hammer?

  A million, million, billion, trillion pairs of underwear. You're not gonna, the sad thing is oftentimes music programs as she continues to advance. Sometimes there's a little like, hey, guys, we might need some money for these extracurricular things. You're gonna send them to states. You're gonna send them to locals. You're gonna do a lot of different things that cost money to participate in and they're gonna wanna participate because they're not horrible. Hopefully, maybe, I don't know. If they're practicing, we'll see. But guess what? You're not gonna be able to afford to send them there with the way you're doing it.

• 37:57Speaker 01

  Well, right now with her school program, um, she gets reduced fees.

• 38:03Caleb Hammer?

  They're still.

• 38:04Speaker 01

  No, they're still there, but they're not. So like her instrument usage fee is like a hundred and twenty bucks.

• 38:09Caleb Hammer?

  Instrument usage?

• 38:10Speaker 01

  We only had to pay like forty.

• 38:11Caleb Hammer?

  You rent it.

• 38:12Speaker 01

  Had to. I'm not spending three thousand dollars on.

• 38:14Caleb Hammer?

  Of course, absolutely.

• 38:15Speaker 01

  Whatever she's playing.

• 38:16Caleb Hammer?

  Well, it really depends on the school. Some schools, they have an instrument.

• 38:21Speaker 01

  We're in a

• 38:22Caleb Hammer?

  Sounds like not.

• 38:23Speaker 01

  Popular school district, so they have instruments to let us rent.

• 38:27Caleb Hammer?

  The school rents them?

• 38:28Speaker 01

  No, no, we rent them from the school.

• 38:29Caleb Hammer?

  Yeah, to you.

• 38:30Speaker 01

  Yeah.

• 38:31Caleb Hammer?

  This is different than the school district I came from.

• 38:32Speaker 01

  It's a one time fee. It's not like a monthly fee or anything.

• 38:35Caleb Hammer?

  Okay, now we have a platinum card.

• 38:37Speaker 01

  That card, by the way.

• 38:38Caleb Hammer?

  Oh, you're spending on it. What do you mean?

• 38:41Speaker 01

  There's, I have two Amex's. One of them should be dormant. One of them should have something on it.

• 38:46Caleb Hammer?

  Uh, this is platinum. Okay, one thousand one hundred forty-two with a forty dollar minimum monthly payment.

• 38:52Speaker 01

  That one has a balance, but I don't use it.

• 38:54Caleb Hammer?

  New pay overtime charges, interest and new charges. You, you're lying. I don't know what the you're talking about. There's new charges on both things. I don't give a this is your most recent statement.

• 39:06Speaker 01

  No, I know.

• 39:06Caleb Hammer?

  Unless someone else in the house is using it.

• 39:08Speaker 01

  No.

• 39:08Caleb Hammer?

  Cause everyone shares everything or

• 39:11Caleb Hammer?

  Getting grandma wooden and everything. So it's just like.

• 39:17Speaker 01

  Oh, I see. My Who's this one?

• 39:23Speaker 01

  Oh.

• 39:23Caleb Hammer?

  Oh.

• 39:25Speaker 01

  I thought so. I you I have YouTube TV with red zone and I thought it was on a different card.

• 39:29Caleb Hammer?

  Oh, that's not that. That's not cheap.

• 39:31Speaker 01

  No.

• 39:32Caleb Hammer?

  The red zone thing.

• 39:33Speaker 01

  No, but I don't keep it during football season and then when football season is over YouTube.

• 39:38Caleb Hammer?

  Bad news is football season. Bad news is foreclosure season.

• 39:43Speaker 01

  Not yet.

• 39:45Speaker 01

  Still got six more weeks.

• 39:47Caleb Hammer?

  Audio books.

• 39:49Speaker 01

  That comes with the card and they they're supposed to take it off. Cause like with

• 39:53Caleb Hammer?

  I don't have a credit for it, but I'm sure it happens somewhere.

• 39:56Speaker 01

  With the platinum.

• 39:56Caleb Hammer?

  No, I know, but it's not there.

• 39:59Speaker 01

  Okay.

• 40:00Caleb Hammer?

  Uh, and then some Walmart charges and then yes, there's your little red zone.

• 40:05Caleb Hammer?

  Well, buddy, you're having twenty-six dollars of interest accruing there and then twenty And then, okay, yeah, twenty-six seventy-three of interest accruing. So it's interest on two cards and we're still putting money on a card that we can't pay off that is accruing interest. Oh, sorry. Total interest on this card is you get another twenty. No, no, yeah, sorry. Okay, fees this year so far, seven hundred and seventy-five. That must be, okay, that's Three hundred forty-five dollar interest this year so far on this card alone.

• 40:33Speaker 01

  Is it still the platinum?

• 40:34Caleb Hammer?

  I just don't know why you're accepting this. You're not a credit card person.

• 40:37Speaker 01

  No, I'm not.

• 40:37Caleb Hammer?

  Use the fizz card debit card that accrues, still builds credit. But at least you can't spend more than is in your bank account. Just don't know why you set yourself up for this itself.

• 40:50Speaker 01

  It's fun.

• 40:52Speaker 01

  Watching all my money.

• 40:53Caleb Hammer?

  Such a little, are we cope joking?

• 40:55Speaker 01

  Yes.

• 40:56Caleb Hammer?

  A little cope.

• 40:56Speaker 01

  I'm, I'm really good at that.

• 41:00Caleb Hammer?

  Best Buy.

• 41:02Speaker 01

  That's my wife's laptop and Microsoft Office stuff. So it's.

• 41:06Caleb Hammer?

  There's interest being charged. You're not even zero percent finessing.

• 41:09Speaker 01

  It should be zero percent.

• 41:10Caleb Hammer?

  Guess what? It's not! What? How do you not look? Do you not look? Do you guys not look at statements? What is you and your wife's relationship with money in the household and understanding where things go? Do we not at least understand where things go? Do you guys sit down and look at statements? Look at the household budget? Look at where money's happening?

• 41:25Speaker 01

  I don't look at the statements. I just pay the bill. Cause I was told it was zero percent when I got the car.

• 41:30Caleb Hammer?

  It probably was until a certain period of time.

• 41:33Speaker 01

  It's not that old. It's supposed to be zero percent for a year.

• 41:36Caleb Hammer?

  It may have been six months. I don't know.

• 41:38Speaker 01

  That's fair.

• 41:39Caleb Hammer?

  Come on! Come on!

• 41:43Speaker 01

  I did miss one payment because I think that's one of the, one of the few cars that's due like.

• 41:47Caleb Hammer?

  Your last payment? So now we're big behind on Achoo in-house and [bleep] over missing Best Buy.

• 41:53Speaker 01

  But I caught up.

• 41:53Caleb Hammer?

  Our lowest balance card, by the way, so far. Lowest balance.

• 41:57Speaker 01

  I caught up the payment.

• 41:59Caleb Hammer?

  Well, thank [bleep], but you missed it here, so I don't care.

• 42:01Speaker 01

  Cause it's one of those weird cards that do like the first or second day of the month, which is odd. The rest of my.

• 42:07Caleb Hammer?

  Why wouldn't you just have auto pay?

• 42:09Speaker 01

  Auto pay.

• 42:09Caleb Hammer?

  Sure, [bleep] auto pay, but have it on just in case you [bleep] up and you [bleep] up and then you owe the [bleep] fee.

• 42:15Speaker 01

  I, the reason I don't.

• 42:16Caleb Hammer?

  So [bleep] auto pay [bleep] you. You're not responsible. You're not an adult. You're a twenty nine year old baby. Come on!

• 42:21Speaker 01

  But I don't like auto pay because I like to physically pay my bills.

• 42:25Caleb Hammer?

  Great, but I have auto pay set up just in case you forget to.

• 42:28Speaker 01

  Doesn't auto pay still take it out if you pay it?

• 42:31Caleb Hammer?

  Huh?

• 42:32Speaker 01

  Like if you pay the bill, but like say you pay.

• 42:34Caleb Hammer?

  They set it up on a certain way. Your statement balance payoff you have, which is automatic pay for the minimum monthly payment due. If you have it on the minimum monthly due and you already make a payment that is covering the minimum monthly payment due, you likely won't have to cover that. If you have a statement balance due, it's probably, it'll probably take the full statement balance. There's a lot of different ways you can set it up. Some things are card dependent. Just take a look at it instead of paying thirty dollars. Why pay thirty dollars to have access to this card for a month? That's what you just did.

• 42:58Speaker 01

  Right, but if my, say my bill's due.

• 42:59Caleb Hammer?

  Oh my god!

• 43:01Speaker 01

  So like if my bill's due on the tenth, but I paid on the first, but auto pay is gonna ding on the tenth. Am I paying that card twice?

• 43:06Caleb Hammer?

  I don't think so.

• 43:07Speaker 01

  See, that's what I don't know. That's why I don't do auto pay.

• 43:09Caleb Hammer?

  With that card, I don't, you haven't looked.

• 43:12Speaker 01

  Cause I don't like auto pay. It scares me.

• 43:13Caleb Hammer?

  You like thirty dollar fees.

• 43:15Speaker 01

  The one time.

• 43:16Caleb Hammer?

  Huh?

• 43:16Speaker 01

  It's a one time fee.

• 43:18Caleb Hammer?

  Yeah, it's thirty dollars. And also, why not just look to see if it would?

• 43:24Speaker 01

  Cause all it says is auto pay, yes or no? And then?

• 43:26Caleb Hammer?

  Yes, but then see if it does.

• 43:29Speaker 01

  But then I can't thirty dollars back.

• 43:30Caleb Hammer?

  Stupid little.

• 43:33Caleb Hammer?

  Like an actual.

• 43:34Speaker 01

  Yeah.

• 43:35Caleb Hammer?

  You're a wimpy little crybaby.

• 43:38Caleb Hammer?

  When it comes to money.

• 43:39Speaker 01

  Oh, yeah.

• 43:39Caleb Hammer?

  You're scared of an auto pay?

• 43:41Speaker 01

  Yeah.

• 43:43Speaker 01

  It messes with my OCD. I like to control what I pay.

• 43:45Caleb Hammer?

  Right. Yeah, that worked really well.

• 43:48Speaker 01

  This one time.

• 43:49Caleb Hammer?

  Listen, that's not true. You've had a hundred and one dollars in fees this year. So far, it's happened three to four times.

• 43:54Speaker 01

  On that one?

• 43:55Caleb Hammer?

  You, he doesn't even know.

• 43:59Caleb Hammer?

  Do you not see the issue here? Do you not see the problem with what you're saying? You didn't even know it happened one time. Oh, no, it didn't happen three or four times. Oh, it happened more? You don't know. So set up auto pay. Use the lovely thing called Google. It's really cool and find out if a.

• 44:22Caleb Hammer?

  Let's get straight to the point. If you're paying more each month on your mortgage than you'd like, or have a reason for change, it may be time to consider refinancing. Luckily, money.com has put together a list of its best options. That could be a game changer for you. First off, refinancing with the right company could significantly lower your monthly payments. Who doesn't want to keep more money in their pocket each month? Money.com makes it easy by showing you multiple refinancing options in one place. You can quickly compare companies to find an option that best fits your financial goals. Plus, you might want to tap into your home's equity for renovations or a big purchase. Money.com can help you find the best companies so you're comparing options to get the deal that enhances your financial flexibility without the extra hassle. And the best part, it's all straightforward. No jargon, no endless browsing.

• 45:07Caleb Hammer?

  Just a simple, clear path to find a better mortgage situation. So if you're considering refinancing, check out best options at money.com at the link in the description today. It can seriously be a financial game changer. This is a paid endorsement sponsored by money.com, which is compensated by its marketing partners. Should have balances anyway. Again, you're not a credit card person.

• 45:25Speaker 01

  Nope.

• 45:25Caleb Hammer?

  So that shouldn't, this shouldn't even be a part of the conversation. Hundred thirty seven dollars of interest is being accrued. And yes, we have the interest rate right there of the thirty point nine nine percent. I don't know when your interest rate period ended because we are obviously past that.

• 45:39Speaker 01

  Lovely.

• 45:40Caleb Hammer?

  Deferred interest, I mean, there's a six month option and that's probably what you had. There's a lot of options, thirty six, twenty four, eighteen, twelve, six. I'm sure your interest is so, they wouldn't want you to have that longer one.

• 45:51Speaker 01

  I didn't know I could pick, I thought it was just you get zero.

• 45:53Caleb Hammer?

  No, they probably gave you the option of six months because they went and trusted you to have it longer. Because your credit's probably, it's your credit.

• 45:59Speaker 01

  Six ninety?

• 46:01Caleb Hammer?

  I'm surprised.

• 46:03Speaker 01

  It's because I have a ginormous available credit.

• 46:07Caleb Hammer?

  Yeah, actually, your limits are kind of high, but you just still hold balances.

• 46:10Speaker 01

  Yeah. My credit was a hundred points higher a couple of years ago.

• 46:13Caleb Hammer?

  I'm sure it was.

• 46:15Speaker 01

  But then, dummy me, I see my giant credit score because I've always wanted to try to get to eight hundred. I'm like, oh, whoa, I have a seven fifty or like a seven fifty five, let me go get like what I would consider like an elite card.

• 46:26Caleb Hammer?

  Elite card, why, why is it a status thing?

• 46:29Speaker 01

  I don't know, I wish I knew, but it's like in the back of my mind, it's like I want this really bad card.

• 46:34Caleb Hammer?

  Card, it's a card. I don't understand why people care about it, I really don't. I just get whatever is best for the points that live with my lifestyle. I don't know, who gives a, who gives a?

• 46:49Speaker 01

  Yeah. So then I get these nice shiny cards and then you get a dopamine hit when you spend on it and then it just, there it goes.

• 46:55Caleb Hammer?

  Oh, okay, it was self admitted, that's great, then you can't use cards.

• 46:59Speaker 01

  No.

• 47:00Caleb Hammer?

  Okay, just envelope system yourself. There you go, you just, I mean, you just said it.

• 47:04Speaker 01

  What does that even mean?

• 47:05Caleb Hammer?

  Yeah, put the money that are in each category to spending after you figure out a budget, go through our budgeting class, go through our investing class, go through our debt class, go through all them with your wife, please. Um, not the eleven year old, not yet, but you know, let them have it eventually. Go through them, take the quizzes, learn, you get them for free, they're all bundled together for fifteen percent off, literally over ten thousand people have taken them and actually changed their life, we've heard from them. Take it for free, once you learn that budget, you learn what goes into each category, then take dollars and put them in the envelope. Once that category's dollars have been fully spent, you cannot spend in that category anymore, you're forcing yourself, you're not getting the dopamine of the swipe or the chip or the tap.

• 47:44Speaker 01

  Like physical dollars or just like

• 47:45Caleb Hammer?

  Yeah.

• 47:46Speaker 01

  numbers on

• 47:46Caleb Hammer?

  Yeah, physical.

• 47:47Speaker 01

  Physical cash?

• 47:48Caleb Hammer?

  Yeah, that's when you're starting from baby mode cuz you are in baby mode cuz you're a little child, okay?

• 47:53Speaker 01

  Okay.

• 47:53Caleb Hammer?

  You have no ability to manage your money to save your life.

• 47:59Speaker 01

  I can manage it.

• 48:00Caleb Hammer?

  No, no, no, no, no, no, no.

• 48:01Speaker 01

  Manage it away.

• 48:02Caleb Hammer?

  Huh?

• 48:03Speaker 01

  Just manage itself away.

• 48:04Caleb Hammer?

  Ah, ha, ha, yes, okay, yes. Little humors, sure. So you start with that to train yourself and then you can transition to more of a digital wallet and things like that. But you have self admitted that you get that dopamine rush. You not every time you swipe a card and I need you to manage that, okay?

• 48:25Speaker 01

  So then how do I?

• 48:26Caleb Hammer?

  You need to have an endless goon session instead of the ends instant ending.

• 48:30Speaker 01

  So then how do I pay a bill if I'm mailing like do I mail the cash to the credit card company?

• 48:34Caleb Hammer?

  Okay, I see what you say. Yeah, some things aren't gonna have to be digital, but we can still. What I would do is essentially, um, hmm, a good way to do that could be having that proper money necessary for that bill set aside maybe in an envelope and then whoop, we deposit it, cool. Now you know that bill is taken care of, but we're still not spending digitally.

• 48:54Speaker 01

  Okay. I got you cuz I was thinking, how am I gonna mail eighteen envelopes a month? That's insane.

• 49:00Caleb Hammer?

  No, no, no, I'm not, I'm not suggesting mailing money. Definitely not.

• 49:04Speaker 01

  Cause that's always a great idea.

• 49:06Caleb Hammer?

  Oh, yeah.

• 49:06Speaker 01

  The postal service is so great.

• 49:08Caleb Hammer?

  Hmm, okay, this one, this one seems zero percent or at one thousand, one hundred seventy nine dollars and twenty five cents. With a thirty five dollar minimum payment. I didn't get that best buy minimum. The best buy minimum is fifty one. These are starting to stack for someone that only has forty percent of their income left after their housing. And that's not even including utilities, internet or anything like that. Okay.

• 49:32Caleb Hammer?

  Purchasing, we're still purchasing. It is zero percent, but it still takes six years to pay off doing the minimums without adding anything more and you endlessly add. So again, oh, I wrote your previous balance. Damn it, your current balance is one thousand, three hundred sixty six dollars and eighty five cents.

• 49:48Speaker 01

  This one is primarily for gas cuz it's

• 49:51Caleb Hammer?

  Okay, fantastic, but you're putting it on a card that is a zero percent, but guess what? You thought your best buy was a zero percent. So do you know in the sense, tell me, please?

• 49:59Speaker 01

  Didn't know that one was at zero percent. Like I said, I don't look at the statements. I just pay the bill.

• 50:05Caleb Hammer?

  You're paying the minimum, but you're allowing interest to accrue. So you like thousands of dollars being taken away from your wallet?

• 50:10Speaker 01

  Well, no.

• 50:11Caleb Hammer?

  Your hard earned money that you're actually working hard to earn.

• 50:13Speaker 01

  No, it's just.

• 50:14Caleb Hammer?

  Okay, well, you are doing that.

• 50:16Speaker 01

  When I put myself in the situation I'm in, the only thing I can do is the minimum payment.

• 50:21Caleb Hammer?

  I know. So we stopped spending on here. We already saw that first statement. It was bull. It was all Amazon dumb things and we went through and it was, there was nothing that was a real true necessity. There has been interest this year so far. Wait, okay. So why is interest? Yeah, we have something you have a, you've gotten back into a promotional APR. I, when do you think it ends? So you don't even know.

• 50:43Speaker 01

  I didn't even know it was your present or whatever.

• 50:45Caleb Hammer?

  Oh, congratulations. It ends in less than a month. It ends in three weeks. So, and then it's going to be at 27.74% interest. Okay? Seventy dollars of fees this year so far. I'm sure you've had late fees. Probably about two.

• 50:57Speaker 01

  Probably.

• 50:58Caleb Hammer?

  Because you don't know anything about your money because you've never looked at a statement in your life. Please go through our debt and budgeting program. Please for sake. Oh, you probably, someone inquired probably to get onto a promotional, please help us. We're drowning promotional thing. Or someone at the bank was like, or Bank of America. He's an American. He has an American flag right there. I love him. Let's give him a little.

• 51:19Speaker 01

  My wife actually told me to get that card because she has the same one.

• 51:24Caleb Hammer?

  Are you guys separate finances?

• 51:26Speaker 01

  So we have a combo, like me and her have a joint account and then she has her own checking account.

• 51:32Speaker 01

  We do, we separated that years ago because I spend all our money.

• 51:35Caleb Hammer?

  Oh, you're the, just you're the.

• 51:36Speaker 01

  I'm the spender.

• 51:37Caleb Hammer?

  Man, baby.

• 51:38Speaker 01

  I'm the spender.

• 51:38Caleb Hammer?

  You're the man, baby.

• 51:40Speaker 01

  She's the typical, like, my kids need all of this. I'll spend hundreds of dollars on the kids, but my, I'm walking out of my shoes. I'm not going to buy myself new shoes. Me, I'm like, okay, I'll spend all the money on the kids and I find any new shoes, I'll just go buy them.

• 51:52Caleb Hammer?

  Okay, we're obviously going to have to make more money to get out of this situation.

• 51:57Caleb Hammer?

  What do you want to do? Do you want to do eighty hour paramedic for the rest of your life?

• 52:01Speaker 01

  No, I actually want to completely change fields.

• 52:03Caleb Hammer?

  What do you want to do?

• 52:04Speaker 01

  I will. So that's what I've been pondering for a good.

• 52:07Caleb Hammer?

  Give me, do you have a few?

• 52:08Speaker 01

  I have two. Yeah, I've got kind of like set paths. So for one path that stays in the medical field, I want to go be a CRNA.

• 52:15Caleb Hammer?

  Okay.

• 52:16Speaker 01

  But that takes four, five, six, nine years, seven to nine years.

• 52:21Caleb Hammer?

  CNR?

• 52:22Speaker 01

  Cause I don't have, no, no, no. Um, yeah, yeah. CRNA. It's, um, basically an anesthetist with surgical capabilities.

• 52:29Caleb Hammer?

  Sure, sure, sure.

• 52:30Speaker 01

  And starting pay fresh out of college, no experience, or yeah, fresh out of school, no experience.

• 52:35Caleb Hammer?

  How would you be able to manage your mortgage with nine years?

• 52:37Speaker 01

  That's where the problem comes in.

• 52:39Caleb Hammer?

  That's a problem. What's the second?

• 52:41Speaker 01

  That one takes seven to nine years because I don't have a, I don't have a degree. I just have trade schools.

• 52:46Caleb Hammer?

  Yeah.

• 52:46Speaker 01

  So then, aspect number two, I want to go be a criminal defense attorney.

• 52:51Caleb Hammer?

  For fuck's sake. Do you have anything that takes less than nine years?

• 52:55Speaker 01

  No.

• 52:56Caleb Hammer?

  Again, this mortgage situation, you're going to put yourself in a small apartment to be able to afford these things.

• 53:00Speaker 01

  That's where the big problem comes in of me not being able to go back to school. So I can circumvent some of the schooling with, um, my wife is getting her degree. And she's using.

• 53:08Caleb Hammer?

  In what?

• 53:10Speaker 01

  Healthcare Business Administration, but she's going online.

• 53:14Caleb Hammer?

  Okay.

• 53:15Speaker 01

  You, cut that.

• 53:16Caleb Hammer?

  Oh, oh, cut the school name?

• 53:17Speaker 01

  Yeah.

• 53:18Caleb Hammer?

  Okay, that's fine. Um, I mean, that's where everyone goes online for everything.

• 53:22Speaker 01

  So what I can do is, um, partners with Sophia. And Sophia, you basically pay a fee or monthly subscription. You can take as many classes as you want. And all you do is you can shortcut these classes. So you take a test. If you pass the test, you get credit for the, for the class.

• 53:38Caleb Hammer?

  The full credit, like the three hour credit if you pass.

• 53:41Speaker 01

  And then.

• 53:42Caleb Hammer?

  Stop saying the name. We have to believe it every time, a nerd.

• 53:45Speaker 01

  And then. Well, I just don't know. I don't want people to know that's where she goes to school.

• 53:49Caleb Hammer?

  I know, but you keep saying it.

• 53:51Speaker 01

  So even if I don't want.

• 53:53Caleb Hammer?

  Stop saying it. Keep talking.

• 53:54Speaker 01

  Okay, so then Sophia is accredited with another online school that accepts these credits that you can.

• 54:03Caleb Hammer?

  So you're considering this. How much is this?

• 54:05Speaker 01

  So Sophia is like ninety dollars a month and you can take as many classes as you want and then the online school you pay.

• 54:11Caleb Hammer?

  But you can't get through your masters and stuff like that either way.

• 54:14Speaker 01

  No, you don't have to go to a real college, but I can cut out two years of bachelors.

• 54:18Caleb Hammer?

  Yeah, two years of bachelors?

• 54:20Speaker 01

  Two-ish.

• 54:20Caleb Hammer?

  You mean you're like associates, like the geneds?

• 54:23Speaker 01

  No, you can get a four-year degree from this online school. So like if I go.

• 54:26Caleb Hammer?

  Online school, but through Sophia?

• 54:28Speaker 01

  It's both.

• 54:29Caleb Hammer?

  I don't know much about the Sophia thing. I haven't heard of this.

• 54:31Speaker 01

  So you you piggyback the both of them. So you do as much as you can at Sophia to transfer to the online school and then you finish your degree with online school.

• 54:38Caleb Hammer?

  If there's any people that have been through this in the uh who's in the audience, I would love to hear your thoughts on that. I I've never heard of Sophia. I know the school she's going to.

• 54:46Speaker 01

  Yeah, so then the school is an accredited university.

• 54:49Caleb Hammer?

  Okay.

• 54:50Speaker 01

  So then I can cut out years on my bachelors and then if I want to go the lawyer route, it's an accredited school. And then to get it to law school, I apply and pass. And then if I get into law, if I get into law school, then that's three to four years.

• 55:02Caleb Hammer?

  Three or four years of having to pay for those mortgages. It's already forty, sixty percent of your income.

• 55:06Speaker 01

  So then the problem is, law school, law school's full-time. It's either four or five days a week, obviously.

• 55:11Caleb Hammer?

  No, the problem is that you got, that's not the, school isn't the problem. Law school isn't the problem. Those future goals aren't the problem. The thing is, you've set yourself up for an expensive lifestyle that you can't afford if you want to do anything but grind forever.

• 55:23Speaker 01

  Right.

• 55:24Caleb Hammer?

  That's the problem. You are miss, again, and this is actually worrying, that you are naming the wrong problem. You don't understand that what you did that got you here is the actual problem. Because that just means that you're gonna end up here again post-school. You're gonna lifestyle inflate yourself to, if you guys are making like a hundred fifty, three hundred thousand hours a year as a household income, you're still gonna have your household mortgage be like sixty percent to have this castle, because I need more space. I need two movie rooms or whatever. Like, that's how you will do it if you did not learn from this mistake, just like when you consolidated your debt and you sold your house and you used the equity position that you made money on

• 56:03Caleb Hammer?

  and you just built your debt right back up again. The fact that you do not know the actual problem is dangerous and scary.

• 56:13Caleb Hammer?

  Well, I guess it doesn't help you. If in your, if your wife, I guess I can't gift you. I could gift you a course certificate. It has nothing to do with what you're doing. It is 25% off, or it's Black Friday, whatever Black Friday, I think it's 25% off for all their certifications for those interested in the audience, by the way, but

• 56:34Caleb Hammer?

  if there's anything we can provide to you on that education front, we definitely will, though. Alright, so save your one, capital one. Oh, this balance is thick, dude.

• 56:43Speaker 01

  It never goes away.

• 56:45Caleb Hammer?

  Well, because you spend on it like a dumbass. You spent more than you paid towards it. What do you mean it never goes away? Come on, not a little victim, you did this.

• 56:54Speaker 01

  I know.

• 56:55Caleb Hammer?

  It's not it never goes away, you don't allow it to go away. You want it to be there because you allow it to be there because you have a leash around it.

• 57:03Speaker 01

  I think it has a leash around.

• 57:04Caleb Hammer?

  No, you spend on it, it doesn't.

• 57:06Speaker 01

  It has a hold of me. It's like, I'm not going anywhere.

• 57:10Caleb Hammer?

  By your.

• 57:12Speaker 01

  I think we have a leash on each other.

• 57:15Caleb Hammer?

  Sure, some kinky thing, whatever. $7,619.74 in insane balance for, and all these up are absolutely wild for your life for the income that is happening in this $250 minimum payment. I do not know how this is all gonna fit, man. I do not know. $414 purchases, but you only made the minimum payment the month before that. What the? Again, we are doing this on a card that is accruing $174.09 in interest on a monthly basis. You don't know that because you don't look at the statement. You just want to make sure you can make your minimum payments. I'm not shocked we have late fees everywhere throughout here on these cards because again, you're late on all your payments. Like you're late on the HOA, you can't afford to pay that. We have no savings.

• 58:00Caleb Hammer?

  Curious to hear about why here in a second because you said you had to not anymore. That means something. So I'm just not surprised we see we've had late. So let's see, do we have fees? There we go. We've had a late fee this year so far. There it is. I see, I knew it. I didn't even see that when I was going through here and scanning what I was looking at today, okay? Because this is crazy because you stretch yourself beyond where you can go to. So making sure you say you don't know the interest, you don't know what's being spent on here, you don't know the money. As long as you can make your minimum payments, but through all these cards, you have missed minimum monthly payments. So that's not even true. Your logic of I just make sure I have enough to make minimum monthly payments isn't true. Cause you miss them.

• 58:44Caleb Hammer?

  Disney plus Hulu Netflix subscriptions. I promise you don't need if the little kids need to watch something, put them on this free app. It's great. And

• 58:55Caleb Hammer?

  and some utilities and Walmart $24. Who knows? And then donations to a church, I think. Okay. So the thing we believe there was a sports restaurant that you went to for $70.

• 59:09Speaker 01

  Five kids, that's five of us.

• 59:10Caleb Hammer?

  Yeah, you can't go out to eat you dumb, you're gonna lose the house. Sorry. The only reason I'm angry and I it's the kids.

• 59:17Speaker 01

  It's the kids. No, yeah.

• 59:18Caleb Hammer?

  Get off, you're forcing them to go through what is going to be traumatic in their life and you don't care. Had a thousand 500 hours lost this year so far in interest on just this card. One card.

• 59:34Speaker 01

  It's a lot.

• 59:34Caleb Hammer?

  Good cop smile dude.

• 59:36Speaker 01

  It's there.

• 59:37Caleb Hammer?

  You're gonna get through this with that. Of course we've missed payments. Huh?

• 59:43Speaker 01

  It's better than crying.

• 59:44Caleb Hammer?

  No, it's not. Crying is a real emotion instead of trying to laugh your way through this. It's not a joke. It's real. Kids are gonna be crying when they're forced to leave their house because of you.

• 59:57Caleb Hammer?

  27.74% interest rate. This just keeps going. What are we in? Fast stack 2.0? City Costco card.

• 1:00:06Speaker 01

  That one's gonna be have, that one's gonna have a high expenditure.

• 1:00:09Caleb Hammer?

  Oh no, it has a high balance too. 7,000, why? Two $7,000 cards in your income is insane.

• 1:00:17Speaker 01

  That one has the move on it, which the movers royally.

• 1:00:21Caleb Hammer?

  Oh sure. Everything's everyone else's fault according to you. What? Why'd you get?

• 1:00:25Speaker 01

  I owe, I owe them a lot of money.

• 1:00:27Caleb Hammer?

  Why'd you get?

• 1:00:29Speaker 01

  They quoted me $1,500 to move from one house to the other, which was not far in distance. And then when they moved me in after they broke a bunch of my charged me $3,200.

• 1:00:40Caleb Hammer?

  Okay. One, did you get the insurance through them? There's oftentimes insurance you can get through them.

• 1:00:45Speaker 01

  They didn't offer it.

• 1:00:46Caleb Hammer?

  Okay, then we don't use those movers because every mover offers insurance. That's usually how they make extra money, but they up. Great. Number two, they probably charged you per hour and quoted what they thought it would take and it ended up being twice as long.

• 1:01:00Speaker 01

  They quoted me for six hours. They were two hours late.

• 1:01:04Caleb Hammer?

  How many men?

• 1:01:06Caleb Hammer?

  Did they quote you for versus how many showed up?

• 1:01:08Speaker 01

  They quoted me for two trucks.

• 1:01:10Caleb Hammer?

  How many people though?

• 1:01:11Speaker 01

  Five?

• 1:01:12Caleb Hammer?

  Five or six? See, you don't even know, man.

• 1:01:14Speaker 01

  It was five or six. And then they quoted me for two trucks for six hours. And it took two trucks in seven hours, but they were, so they were two hours late. So it was like time shift just moved over.

• 1:01:25Caleb Hammer?

  Okay, why didn't you dispute the charge on it?

• 1:01:27Speaker 01

  I did. So I've never disputed a charge before. And when I disputed it with them, I didn't know you only get one like paragraph to put, like one opportunity to say, this is why I don't like discharge and they, the Citibank denied it. They denied the dispute.

• 1:01:40Caleb Hammer?

  What do you mean you only get one? Did you put in the reason?

• 1:01:43Speaker 01

  Yeah. So when you.

• 1:01:44Caleb Hammer?

  Then what does it matter that you only had one chance to explain?

• 1:01:47Speaker 01

  I thought you got to do like, this is a summary of what happened. Okay. We're going to contact you and then I can further explain like.

• 1:01:53Caleb Hammer?

  So your summary was lacking?

• 1:01:55Speaker 01

  I would, yeah.

• 1:01:56Caleb Hammer?

  Well, you shouldn't have done that regardless. Why would you want to have a lacking summary for something so expensive?

• 1:02:00Speaker 01

  Cause I thought they were going to come back to me.

• 1:02:02Caleb Hammer?

  I get why, but why have a lacking summary regardless?

• 1:02:04Speaker 01

  Cause they had a 500 character limit. And I couldn't put.

• 1:02:08Caleb Hammer?

  I don't know. Well, the, the basic you told me was less than 500. Hey, they charged us twice as much as they said they were going to, and they broke all our stuff and didn't offer us insurance.

• 1:02:18Speaker 01

  But I wanted to have like, I had like timestamps and line items and pictures.

• 1:02:22Caleb Hammer?

  I get you. I get you. Okay. That's, that is good.

• 1:02:24Speaker 01

  That's what I was hoping that they would come back and say, can you explain it?

• 1:02:28Caleb Hammer?

  Did you call them?

• 1:02:29Speaker 01

  No.

• 1:02:29Caleb Hammer?

  You haven't even called them. Then I have no sympathy.

• 1:02:32Speaker 01

  Oh, that thought.

• 1:02:33Caleb Hammer?

  You haven't typed enough number to call. I have no sympathy.

• 1:02:36Speaker 01

  They said the dispute is closed and done with.

• 1:02:38Caleb Hammer?

  I get it, but you haven't even tried to call. You never know what can happen, man. You didn't even put the effort. Come on.

• 1:02:47Caleb Hammer?

  And banks are usually pretty darn good about if you're disputing and they think there's any, anything sus going on, working. But I don't know, man. It just sounds like you probably didn't know what you're signing up for.

• 1:02:58Speaker 01

  Do you think I could still call? I mean, this was back in the.

• 1:03:00Caleb Hammer?

  I don't know. It's where everything's worth a try.

• 1:03:02Speaker 01

  That's fair. Yeah. Cause.

• 1:03:03Caleb Hammer?

  But I still don't believe you knew what you were even doing.

• 1:03:07Speaker 01

  Well, I mean, I knew I was signing up for movers, but when they hit me with the price, I was like, that's insane. And so to get.

• 1:03:14Caleb Hammer?

  Honestly, for that many people, that many trucks, I don't know if it is insane for that much time. Uh, when I've done moving, I do two people, one truck typically. I actually I did three people the last time. It cost me five, six hundred dollars and it was for a couple hours. So six hours, two trucks, six guys, seven hours. I'm not really surprised.

• 1:03:32Speaker 01

  Cause a couple of the other companies that quoted me was. There's one bigger company that they were gonna send four guys with two trucks. It was gonna be like nine grand.

• 1:03:42Caleb Hammer?

  Yeah, moving is expensive, dude. If you don't do it yourself, absolutely. Okay, you made your a little more than the minimum payment, but it doesn't matter because you purchased a thousand, seven hundred eighty seven dollars.

• 1:03:51Speaker 01

  Tires.

• 1:03:52Caleb Hammer?

  Okay.

• 1:03:53Speaker 01

  I had to put new tires on my wife's car. And there was tires, sensors was like fifteen hundred and then.

• 1:03:59Caleb Hammer?

  Guess what? You're gonna have to do tires again at some point for any car. Uh.

• 1:04:04Speaker 01

  But hers were like.

• 1:04:05Caleb Hammer?

  Also can't afford bills, so.

• 1:04:06Speaker 01

  Metal was showing on her tires.

• 1:04:08Caleb Hammer?

  For your spending on going out to eat and stuff is. If you, if we know we have to get tires, we can't afford to get tires, we have to put it on something that's a combination, so we probably can't go out to eat. Wow, who would have thought? Eighty eight thousand forty one cents of interest is accruing.

• 1:04:22Caleb Hammer?

  So Costco did the tires.

• 1:04:24Speaker 01

  Yes.

• 1:04:25Caleb Hammer?

  And then there's also Costco spending, Costco spending in dream sleep machine.

• 1:04:29Speaker 01

  That was, I went to.

• 1:04:30Caleb Hammer?

  Hundred and sixty seven dollars.

• 1:04:32Speaker 01

  I went to a sleep doctor to try and get a sleep study.

• 1:04:35Caleb Hammer?

  You have sleep problems?

• 1:04:36Speaker 01

  My wife says I, I don't, my wife says I snore and stop breathing in the middle of the night.

• 1:04:40Caleb Hammer?

  Oh.

• 1:04:40Speaker 01

  I sleep just fine.

• 1:04:41Caleb Hammer?

  Oh, that you stop breathing? Oh, so this is like a sleep apnea test?

• 1:04:44Speaker 01

  Yeah, so.

• 1:04:44Caleb Hammer?

  Oh, okay, that's good. That's good.

• 1:04:45Speaker 01

  I couldn't get the sleep apnea test and that charge is also bullshit because. No, no, it's not like, as in I, I, I paid it, but I talked to a doctor for three seconds and he goes. So do you have prob, do you have trouble sleeping?

• 1:04:57Caleb Hammer?

  Welcome to healthcare.

• 1:04:58Speaker 01

  Yeah, and it sucks. He was like, do you have trouble sleeping? I was like, no, I sleep just fine. My wife says I, I snore and stop breathing. Okay, well, you felt your assessment, get, get, schedule for a sleep study, goodbye.

• 1:05:07Caleb Hammer?

  Okay, yeah.

• 1:05:08Speaker 01

  That was the hundreds, whatever that charge is. So then the lady comes in and she's like, hey, uh, your insurance is gonna be six hundred dollars a night for a sleep study. And I said, no, thank you. Walked out.

• 1:05:19Caleb Hammer?

  Well, the fact is, is with your income and with your life and with the dependents you have, you probably should do it and you probably could afford it if you weren't done with your house. If you don't, weren't done with your spending, because this is actually something I would say you should do.

• 1:05:31Speaker 01

  I'm not paying six hundred dollars a night.

• 1:05:33Caleb Hammer?

  If you're, I get that, you can't.

• 1:05:36Caleb Hammer?

  You spend more than that going out to eat, so great. So, but you could die. And then, and then what? Do you have life insurance, please?

• 1:05:44Speaker 01

  Yeah, I actually.

• 1:05:45Caleb Hammer?

  Because you're gonna be stupid and get yourself killed by not taking care of yourself because you're putting food seventy dollars at a restaurant over you being able to survive the night. Buddy, your priorities are whack. You're so stupid.

• 1:06:00Speaker 01

  For my life insurance, I up, I went above like the auto accepted minimum. It's up to.

• 1:06:07Caleb Hammer?

  Good, because you're dead. Your priorities are whack, man. You're just acting like a dumbass. I wouldn't be surprised. Oh Chrysler, oh for what? What am I looking at?

• 1:06:18Speaker 01

  My car.

• 1:06:19Caleb Hammer?

  Zero percent, though?

• 1:06:20Speaker 01

  The lease.

• 1:06:21Caleb Hammer?

  Oh, okay, well, then all that shit really just baked in. A seven hundred and twelve dollar minimum monthly payment? Oh.

• 1:06:30Caleb Hammer?

  Oh. Is this gonna be possible?

• 1:06:35Caleb Hammer?

  Oh.

• 1:06:35Speaker 01

  It's, it's been possible.

• 1:06:38Caleb Hammer?

  No, your debt's going, buddy, you spent more than double what you made because you put your spending on credit cards that are just going up and you're luckily have credit, high credit limits allowing you to do this. You think it's possible because you've been able to do that so far, but you're gonna hit the credit limits and then you're

• 1:06:50Speaker 01

  This purchase wasn't my fault. I got salesman.

• 1:06:53Caleb Hammer?

  Oh, you stop being a

• 1:06:55Speaker 01

  It happened. I went there for one thing.

• 1:06:57Caleb Hammer?

  Shut the up. That's gonna piss me off. How do you have no responsibility in this world? Are you a damn child in every instance? That is gonna rage me. What? What?

• 1:07:10Speaker 01

  I went for a different vehicle, a used vehicle, half, literally half the price.

• 1:07:15Caleb Hammer?

  Uh huh.

• 1:07:16Speaker 01

  And I got salesman out of it. He's like, this is a piece of you're not gonna like it.

• 1:07:21Caleb Hammer?

  And you have no way of advocating for yourself or acting like an adult? Uh huh.

• 1:07:24Speaker 01

  And so I went with something else and I got.

• 1:07:26Caleb Hammer?

  Oh, crazy story, dude. Great.

• 1:07:30Speaker 01

  Yeah, it was fun.

• 1:07:31Caleb Hammer?

  Baby.

• 1:07:35Caleb Hammer?

  Stupid.

• 1:07:39Caleb Hammer?

  Seven hundred, I don't like.

• 1:07:43Caleb Hammer?

  Two parts of my rage here. I have to explain my rage because the audience doesn't understand it when I get and go, right, so I'm just, ah, this is fucking, it's also just parasocial and weird, but whatever. Okay, so my rage, what is it? One, I got salesmen. Of course, it's not your fault. Everything's out of your control. Two, I don't know what we're gonna do, man. This seven hundred twelve has to have pushed us to our limit. If we incorporate whatever expenses in your life, including food for the family, it has to have pushed you to your limit. And I don't know what to do. I'm scared to find out where this ends.

• 1:08:22Caleb Hammer?

  Okay, what's your term on this and where are you in that term?

• 1:08:25Speaker 01

  It's over in February, this coming February.

• 1:08:27Caleb Hammer?

  Oh, thank goodness. Thank goodness. It's the only bright spot because you're not gonna buy it. No, no, you are gonna go get a $10,000 car max and you're not gonna get salesmen because you don't know how to advocate for yourself. That's gonna be it, okay? Are you creating videos as a full-time creator? It's a grind between scripting, editing, and oh, all those endless little tweaks. And sometimes it feels like Taikitos would be honestly a better career choice, but that's where today's sponsor, InVideo AI, comes in. With over 10 million users across 150 countries, InVideo AI is the world's most used AI video creator. I remember hearing about other generative AI tools what feels like ages ago. And when I recently looked,

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• 1:09:38Caleb Hammer?

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• 1:09:48Caleb Hammer?

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• 1:10:28Speaker 01

  I've actually been looking for like older model and used.

• 1:10:31Caleb Hammer?

  I'm not saying get yourself in a [bleep] position like that though, cuz that- Sometimes you can get yourself in [bleep] position if you get too cheap of a car-

• 1:10:37Speaker 01

  Yeah.

• 1:10:37Caleb Hammer?

  And you have to put more money into it than it's even worth. I'm not saying do that. Usually you can get a $10,000 car, make sure you get it taken to a mechanic, make sure the mechanic gives you the thumbs up that it's gonna last a few years without you pumping a lot of money into it, without you, uh, being in a dangerous situation, okay? Physically and financially. Uh, so-

• 1:10:54Speaker 01

  The only problem I'm gonna run into with the lease is my miles.

• 1:11:00Caleb Hammer?

  What?

• 1:11:01Speaker 01

  You know, it's like-

• 1:11:01Caleb Hammer?

  Yes, and I'm asking what?

• 1:11:03Speaker 01

  The cap is 45K and I'm currently at 49.

• 1:11:11Caleb Hammer?

  What's the-

• 1:11:12Speaker 01

  25 cents a mile, I think. That's like the standard.

• 1:11:16Caleb Hammer?

  So you're gonna be at, what, 51?

• 1:11:20Speaker 01

  Give or take, 1,000. Just call it 50-

• 1:11:23Caleb Hammer?

  Let's call it-

• 1:11:23Speaker 01

  Call it 52.5, to be safe.

• 1:11:26Caleb Hammer?

  Huh? 5,250?

• 1:11:28Speaker 01

  No, no, no.

• 1:11:28Caleb Hammer?

  Oh.

• 1:11:29Speaker 01

  Miles, 52,500 on the car when I turn it in.

• 1:11:32Caleb Hammer?

  What, 52,000?

• 1:11:33Speaker 01

  Yeah. My round trip to work alone is like 30 miles.

• 1:11:37Caleb Hammer?

  And how much was you, you were allowed to do?

• 1:11:39Speaker 01

  15K a year. So 45 total. So it's like 7,200 and-

• 1:11:44Caleb Hammer?

  Yeah, 75. So, on the charge per mile?

• 1:11:48Speaker 01

  25 cents.

• 1:11:49Caleb Hammer?

  Wait, wait, why can't I not do that math? Wait, whoa, whoa, how do you do that math?

• 1:11:57Caleb Hammer?

  Oh wait, wait, wait, okay, I can do that. I got it, I got it, I got it. So you're gonna have to owe a thousand eight hundred seventy-five?

• 1:12:04Speaker 01

  Just in mileage.

• 1:12:06Caleb Hammer?

  Just in mileage?

• 1:12:07Speaker 01

  Cause they're gonna come-

• 1:12:08Caleb Hammer?

  Any damage or anything?

• 1:12:08Speaker 01

  There's like, there's a couple of chips in the windshield, they've been patched, but I mean, they're gonna charge me for it. I know a new windshield is anywhere between five to six hundred bucks.

• 1:12:17Caleb Hammer?

  I'm not saying I want you to, but you might be able to roll this over into the thing that do with that is you're forced to get it with that dealership, which is dramatically eliminating your options for getting the best car at the ten thousand dollars. You might be able to roll it over. I'm hoping there's some luck there, but a thousand eight hundred seventy-five. Technically, we could be able to do this if you didn't do stupid with your house, if you didn't do stupid with your spending. For god's sake.

• 1:12:38Speaker 01

  Yeah.

• 1:12:39Caleb Hammer?

  I'm gonna make a note for that, I guess.

• 1:12:42Speaker 01

  The other option I had thought of was because my wife works from home now, that-

• 1:12:48Caleb Hammer?

  Your wife works from home? She has a job?

• 1:12:50Speaker 01

  Yeah, we're dual income.

• 1:12:52Caleb Hammer?

  Okay, how much does she make?

• 1:12:54Speaker 01

  Fifty-two.

• 1:12:56Caleb Hammer?

  So- A year?

• 1:12:57Speaker 01

  Yeah.

• 1:12:57Caleb Hammer?

  Why is her account?

• 1:12:58Speaker 01

  She's salaried.

• 1:12:59Caleb Hammer?

  Hold on, but is there also more expenses and debt that she has that I don't have here?

• 1:13:02Speaker 01

  No, so I have to give her some of the bills every now and-

• 1:13:05Caleb Hammer?

  Well, hold on, but the household income is more than fifty-five hundred a month?

• 1:13:08Speaker 01

  Yeah.

• 1:13:09Caleb Hammer?

  What the fuck did you not tell me this? What comes in-

• 1:13:11Speaker 01

  You asked for my income.

• 1:13:13Caleb Hammer?

  What comes in for her account?

• 1:13:15Speaker 01

  Take home is twenty-four hundred.

• 1:13:18Caleb Hammer?

  A month?

• 1:13:18Speaker 01

  A month. Cause she pays all, she pays all the ins-

• 1:13:22Caleb Hammer?

  Yeah, it helps, it helps. Oh, well then, I need to know that, do you know those amounts for the bills she takes care of too?

• 1:13:28Speaker 01

  It's whatever I tell her to pay. Usually it's utility bills.

• 1:13:31Caleb Hammer?

  No, for everything she does, like insurance and everything, do you-

• 1:13:34Speaker 01

  She pays four fifty for health insurance.

• 1:13:38Caleb Hammer?

  Oh, before, before her money hits?

• 1:13:40Speaker 01

  Yeah, yeah, yeah.

• 1:13:40Caleb Hammer?

  Oh, okay, I thought you meant like car insurance.

• 1:13:42Speaker 01

  No, no, no, no, no, I, I have the car insurance.

• 1:13:44Caleb Hammer?

  Okay, okay, so the Chrysler, okay, so seven hundred and twelve dollars a month. Okay.

• 1:13:49Speaker 01

  But, oh, back to the car, so. And I'm sure this is a bad idea, but to avoid like lease fees and all that if I turn it in, so um, CDJR Chrysler Dodge Jeep brand, whatever, has the deal, like if you turn in your lease to get another lease.

• 1:14:06Caleb Hammer?

  Don't, no. We're stopping the cycle.

• 1:14:08Speaker 01

  Okay.

• 1:14:09Caleb Hammer?

  We're stopping the cycle. Furniture? Good. Fuck off, four thousand one hundred forty-six dollars.

• 1:14:17Speaker 01

  Bought a lot of furniture.

• 1:14:19Caleb Hammer?

  Apparently.

• 1:14:21Caleb Hammer?

  Okay. Four thousand one hundred forty-six dollars and twenty-six cents is owed for furniture. The minimum payment of a hundred sixty-six dollars. Okay. Let's see here. They're gonna be at eighteen percent, but when? Wait, oh, wait, wait, wait. Oh, it's deferred interest. Oh, shit. Oh, when does this end?

• 1:14:41Speaker 01

  Twenty-four.

• 1:14:41Caleb Hammer?

  No, stop, stop, stop, stop. You don't know anything. We've learned this through this conversation. I don't even want to think here. I'm sorry. I don't, I wouldn't trust your number. It's not on here, is it? Wait, got it.

• 1:14:54Speaker 01

  Twenty-four.

• 1:14:55Caleb Hammer?

  What is this? Again, you do not know what you're talking about, man.

• 1:15:01Caleb Hammer?

  One ends in seven months.

• 1:15:03Speaker 01

  Okay.

• 1:15:04Caleb Hammer?

  Not twenty-four. The a thousand one hundred ninety-nine dollars is owed in seven months. Accrued interest so far on that one is five hundred forty-five dollars. And it's only gonna go higher.

• 1:15:17Caleb Hammer?

  The other one is probably the longer one. That's gonna end more in like a year and seven months. Okay, that's three thousand seven hundred ninety dollars. But that's already accrued, three hundred fourteen, and it's accruing fifty-six dollars a month in interest that you will have to pay. If you don't. Do you understand that?

• 1:15:37Speaker 01

  Yeah.

• 1:15:38Caleb Hammer?

  That that interest will back hit you?

• 1:15:40Speaker 01

  Oh, no, I didn't know that.

• 1:15:43Caleb Hammer?

  What did you think I was talking about this entire time? When I was talking about interest accruing, what did you think was happening?

• 1:15:48Speaker 01

  Well, on this one specifically, what do you mean by back? Because it's zero, it's zero percent for X amount of time.

• 1:15:56Caleb Hammer?

  If you don't pay that entire balance in seven months of a thousand one hundred ninety-nine dollars, the interest that it was accruing on the back deferred will hit.

• 1:16:06Speaker 01

  Oh.

• 1:16:07Caleb Hammer?

  Which so far is five hundred forty-five for that one. It will likely be close to about seven hundred dollars, okay? And then the three thousand seven hundred ninety, that's gonna be like a thousand dollars by the time that hits. No, it's gonna be like a thousand five hundred, maybe two thousand by the time that hits.

• 1:16:19Speaker 01

  Okay.

• 1:16:20Caleb Hammer?

  If you do not pay it off in time.

• 1:16:21Speaker 01

  Gotcha.

• 1:16:22Caleb Hammer?

  Does that make sense?

• 1:16:22Speaker 01

  Yes.

• 1:16:25Caleb Hammer?

  Is this another debt? Can we be done with debt?

• 1:16:28Speaker 01

  That's the mortgage.

• 1:16:29Caleb Hammer?

  This is the house. Jeez. Hope that means it's the end of the debts, because this is, we're still going, this is such a long episode.

• 1:16:39Caleb Hammer?

  Three hundred twenty-five thousand nine hundred forty dollars and forty-three cents is owed. At a six point six two five percent interest rate, that's just about where we're at today. And the minimum monthly payment, including all the goodies, escrow distributed, blah, blah, blah, blah, blah, blah, blah, blah, blah. Is three thousand two hundred fifty-eight, right?

• 1:16:58Speaker 01

  Yep.

• 1:16:59Caleb Hammer?

  Gosh, that is so expensive.

• 1:17:00Speaker 01

  Yep.

• 1:17:01Caleb Hammer?

  For you especially. Well, again, the wife's income that's actually coming in to help.

• 1:17:05Speaker 01

  Yes.

• 1:17:06Caleb Hammer?

  Let's see what the percentage is now. Still very, very bad. About forty-two percent. You would cap it at about thirty. You're still putting yourself in a dangerous position, position. It's not as crazy as it was. But it's still very dangerous. Oh, what is this?

• 1:17:25Speaker 01

  Student loan.

• 1:17:29Caleb Hammer?

  For you?

• 1:17:29Speaker 01

  Yes.

• 1:17:30Caleb Hammer?

  So you did go to school? You dropped out?

• 1:17:32Speaker 01

  I used it for, I used it for trade schools.

• 1:17:35Caleb Hammer?

  Did you complete trade schools?

• 1:17:36Speaker 01

  Yeah, I'm all sorted out.

• 1:17:37Caleb Hammer?

  Great. And

• 1:17:39Speaker 01

  Paramedic.

• 1:17:40Caleb Hammer?

  Paramedic. So two thousand five hundred fifty-six.

• 1:17:44Speaker 01

  That's what's left.

• 1:17:44Caleb Hammer?

  This isn't crazy.

• 1:17:45Speaker 01

  I got it in twenty

• 1:17:47Caleb Hammer?

  What's your minimum?

• 1:17:48Speaker 01

  A hundred and twenty, and they're both low interest. One's like three percent, the other one's four percent.

• 1:17:52Caleb Hammer?

  Hundred and forty?

• 1:17:54Speaker 01

  One twenty.

• 1:17:55Caleb Hammer?

  One twenty.

• 1:17:56Speaker 01

  They're, they're, they're two different ones, they're broken up real weird.

• 1:17:59Caleb Hammer?

  Yep. That's, yep, that student loans for you. Federal ones at least.

• 1:18:03Speaker 01

  I did have a year of like, whenever they were

• 1:18:06Caleb Hammer?

  Is that the debt? Oh, my gosh.

• 1:18:09Speaker 01

  No, there's one more that I guess I didn't submit, my wife's car.

• 1:18:12Caleb Hammer?

  No, apparently it's on, it's, it's included in one of these checking accounts. It's on the A plus.

• 1:18:17Speaker 01

  Yeah.

• 1:18:17Caleb Hammer?

  Let me find it. Are you kidding me? How are we still going through debt? An hour and seventeen minutes in. Okay, it's in the A plus credit. Oh. Luckily, it's a low interest rate. You said this was your wife's car?

• 1:18:31Speaker 01

  Mm-hmm.

• 1:18:32Caleb Hammer?

  Okay, four point

• 1:18:33Speaker 01

  Four point five?

• 1:18:34Caleb Hammer?

  Four point two five.

• 1:18:35Speaker 01

  Better.

• 1:18:36Caleb Hammer?

  Again, you do not know things. Let me speak.

• 1:18:38Speaker 01

  Sorry.

• 1:18:38Caleb Hammer?

  When I'm talking about your numbers, you do not look at them. So I will tell you what they are.

• 1:18:47Caleb Hammer?

  It's forty thousand dollars.

• 1:18:49Speaker 01

  Cause it had a rollover of negative equity from the last car. Cause there were.

• 1:18:53Caleb Hammer?

  What's the car?

• 1:18:54Speaker 01

  Currently, it's a Tahoe.

• 1:18:58Speaker 01

  Twenty eighteen Tahoe, LT, nothing fancy.

• 1:19:01Caleb Hammer?

  Do you know what it's worth?

• 1:19:02Speaker 01

  Twenty-three, twenty-two, way more than I own it.

• 1:19:06Caleb Hammer?

  Can't believe you guys have had to separate your money just for the sole fact that you're not mature enough to not spend money. That is crazy. I feel bad for her. Feel bad for her that she's married to someone so immature. Financially, I'm sure you're great in so many other ways. This is always financially.

• 1:19:23Speaker 01

  No, I understand.

• 1:19:24Caleb Hammer?

  But come on, she married a child.

• 1:19:26Speaker 01

  It's bad.

• 1:19:26Caleb Hammer?

  Financially. Minimum payment of six hundred. Again, this is getting us in a crazy dangerous position. What is the term length on this?

• 1:19:35Speaker 01

  Seventy-two from twenty twenty-two.

• 1:19:40Caleb Hammer?

  Oh, I'm just gonna whoa. I think we're gonna call her in the post-show. So usually where we have the significant other confrontation. So make sure you guys join our YouTube membership, guys. You get the post-show and thousands of hours of other audits and other content that we do. There's even a call-in show where you can call in and get my take on your situation, any kind of situation. So make sure you guys join that elite for all the extra content, especially. And a private Discord now. Lot of stuff. Super fun. Okay. And this technique on two thousand eight hundred thirty-six, it's not horrible. Uh, two thousand four hundred twelve, actually. Um, pooper scooper.

• 1:20:25Caleb Hammer?

  Twitch, rain for Twitch.

• 1:20:28Caleb Hammer?

  Subscription, Domino's, Chick-fil-A, Chick-fil-A. When is I got some bullshit?

• 1:20:35Caleb Hammer?

  Sushi, a hundred and three dollars of sushi and hibachi. Come the fuck on, you can't afford that. When the gas station got some bullshit. Ultima pooper scooper. This isn't ongoing, people come by? No.

• 1:20:45Speaker 01

  We have a lot of dogs.

• 1:20:46Caleb Hammer?

  Yeah, no. You order one pooper scooper off the internet and you do it or make the 11 year old do it.

• 1:20:53Speaker 01

  I've tried to get the 11 year old dude.

• 1:20:54Caleb Hammer?

  You're their dad make them ground them. You'll figure it out. Take it in a parenting course. Watch some YouTube videos, talk to someone that knows what they're doing and parent your child. Okay, I'm not the person to tell you how, but do it. Guess what? I was a rebellious little piece of, I still picked up my poop. They probably told me I couldn't play Xbox or something. That was enough. Uber eats, Uber eats McDonald's, Smoothie King, Wingstop. Academy Sports hoping for the kids 200.

• 1:21:22Speaker 01

  My wife's birthday.

• 1:21:24Caleb Hammer?

  Academy Sports?

• 1:21:25Speaker 01

  Clothes.

• 1:21:26Caleb Hammer?

  Okay. Happy birthday. We're not gonna lose the house, wife. How about that? You went inside a gas station, got some bullshit, the local open, you guys are eating out every second of your life.

• 1:21:37Speaker 01

  Yep.

• 1:21:38Caleb Hammer?

  Every second of your fucking life. Twitch, Stanley, Stanley.

• 1:21:45Speaker 01

  My daughter's birthday.

• 1:21:46Caleb Hammer?

  Oh my, double again. Get them a birthday of not having to get evicted. Huh?

• 1:21:53Caleb Hammer?

  For clothes, McDonald's, Wingstop. Come on, this spending is the dumbest mother stupid shit ever.

• 1:22:03Speaker 01

  Would you believe it if I told you it's been worse?

• 1:22:05Caleb Hammer?

  Yes, I would. I would because I know who I'm looking at right now. I've learned you throughout this. Went inside a gas station, got some stupid bull drink, whatever snack, who knows? Pizza, Starbucks, PayPal and out. More poop and the scoop in.

• 1:22:20Caleb Hammer?

  Subscription to Microsoft, more Twitch, whatever. Twitch, what are you twitching constantly? You have Twitch money, you're just like Twitch, you're just throwing it to Twitch. What are you doing? Oh, you don't know how bad your life is and you're just throwing it all. It's so horrible to see more scooping of the pooping. Oh my, and we're PayPal and out. We're going inside and get into bullshit. And golden check PayPal, PayPal, poop and scoop, Domino's, Starbucks. You can get the poop and scoop when you take care of your money and act like an adult. Apple subscription.

• 1:22:56Speaker 01

  The PayPal is meals for work.

• 1:22:57Caleb Hammer?

  What a joke. Huh?

• 1:22:59Speaker 01

  The PayPal, it's meals at work. Like, I have to pay in, because we go grocery shopping. You put into a community fund.

• 1:23:05Caleb Hammer?

  Your community fund?

• 1:23:06Speaker 01

  Well, then I can't eat.

• 1:23:07Caleb Hammer?

  You know what I'm gonna say. Do you? Do you watch the show?

• 1:23:11Speaker 01

  Every now and then.

• 1:23:12Caleb Hammer?

  What am I gonna say? Huh?

• 1:23:14Speaker 01

  Bring your own lunch. Make a sandwich.

• 1:23:15Caleb Hammer?

  Hey, there you go. You figured it out.

• 1:23:19Caleb Hammer?

  You can get cheaper than the communal thing. You doesn't have to bend everyone else's wishes for lunch. Thousand dollars, guys, in this little Cash App Investing LLC fund. Oh, retirement is just around the corner. We're almost there. Oh, but wait, you haven't heard nothing yet. Two hundred eighty-five dollars in Robinhood.

• 1:23:40Speaker 01

  It was at.

• 1:23:40Caleb Hammer?

  Our wife, my wife and me, guys, we're gonna live in luxury.

• 1:23:45Caleb Hammer?

  Forty-two dollars in this Robinhood.

• 1:23:49Caleb Hammer?

  Wonderful. Well done. Really, really such a self fuck. Oh, good. And I'm being told I didn't look, and apparently it's all in Dogecoin.

• 1:24:02Speaker 01

  I made a lot of money out of it.

• 1:24:04Caleb Hammer?

  What's a lot?

• 1:24:05Speaker 01

  Like, five grand worth.

• 1:24:06Caleb Hammer?

  So you took it all out?

• 1:24:07Speaker 01

  And so I had to sell most of it.

• 1:24:09Caleb Hammer?

  Good. Yeah, because you can't afford to pay bills.

• 1:24:12Speaker 01

  So I just left it in there.

• 1:24:13Caleb Hammer?

  Take the investment program. I'm not having this conversation.

• 1:24:16Speaker 01

  I've got a retirement account. It's got a couple grand in it, too.

• 1:24:19Caleb Hammer?

  Okay, good. 401K?

• 1:24:21Speaker 01

  Yep.

• 1:24:21Caleb Hammer?

  Okay, you could have sent me a statement, but all right.

• 1:24:25Speaker 01

  Is that like a sixteen percent ROR for fifteen years?

• 1:24:28Caleb Hammer?

  Probably.

• 1:24:33Caleb Hammer?

  Spending's stupid, if you want to take a look at it. I don't want it in front of me anymore. I'm scared to make this budget. I am scared. I think this is gonna be.

• 1:24:43Speaker 01

  It's gonna be upside down. I bet it's upside down.

• 1:24:46Caleb Hammer?

  So what's the solution, then? If we already know it's upside down, then there's no point. And people love it when I don't make a budget. But again, if it's upside down, what is the point? What do we do? What's your solution? What did you think? I'm still gonna make it, but what did you think you were gonna do?

• 1:25:00Speaker 01

  I know.

• 1:25:00Caleb Hammer?

  What is you and your wife's plan?

• 1:25:02Speaker 01

  Well, I know the things I need to get rid of. One being my car, obviously.

• 1:25:07Caleb Hammer?

  Yeah.

• 1:25:07Speaker 01

  And then go to the grocery store more versus going out all the time. That'll cut down a lot of spending. And then.

• 1:25:17Speaker 01

  I think those are two of our bigger expenditures.

• 1:25:20Caleb Hammer?

  That's it? That's all we were gonna do?

• 1:25:23Speaker 01

  It's to get me started.

• 1:25:26Caleb Hammer?

  How are you gonna get a 10,000 hour car in a few months? What was your plan there? Or you were planning to just get another lease? That wouldn't have helped you. You would have been had another chunky payment. Your debt minimum total, by the way, 2,000, 2,000, 2,230 dollars and six cents, but that's not including your mortgage. Your mortgage again, 3,258 dollars and 49 cents. What about utilities?

• 1:25:49Speaker 01

  Water bill averages between 120 and 140 and electric bill lately has been averaging about 150.

• 1:25:58Caleb Hammer?

  Internet?

• 1:25:59Speaker 01

  Eighty bucks a month.

• 1:26:01Caleb Hammer?

  Room, room, room, gas, gas for both of you.

• 1:26:03Speaker 01

  So it's different now because now that she's worked for him, she doesn't.

• 1:26:06Caleb Hammer?

  Room, room, gas, gas for both of you.

• 1:26:09Speaker 01

  I would say 108 dollars a month.

• 1:26:11Caleb Hammer?

  Car insurance for both.

• 1:26:13Speaker 01

  It's 320 for both.

• 1:26:19Caleb Hammer?

  TP fund, anything else you need to survive? This includes things for kids' school and stuff like that. I'm gonna do 200 bucks. Hopefully you can cut that back. Necessary food, we should be able to get you guys, it's gonna be, your kids are gonna be so bored with the food you get, but I don't care. They can eat or they can go to bed, they can get hungry and then they'll. Maybe, I don't know.

• 1:26:35Speaker 01

  That's what we tell them.

• 1:26:36Caleb Hammer?

  Yeah, again, I'm not a parent, I don't. But either way, you're gonna be meal prepping only a couple of times a week, so it's just gonna be lots of repeats, but it's just, we gotta, you know, survive. I think we can meal prep.

• 1:26:52Caleb Hammer?

  I'm gonna do a thousand.

• 1:26:56Caleb Hammer?

  Not going out to eat. Uh, medical, healthcare, copays, anything?

• 1:26:59Speaker 01

  Um, so I'm, I'm changing my insurance coverage at the turn of the year when I get new benefits, because I'm trying to get more healthy, I guess. So I'm, I picked the.

• 1:27:09Caleb Hammer?

  Monthly expenses.

• 1:27:10Speaker 01

  I don't know yet. That's the problem. So no one consistently goes to the doctor right now.

• 1:27:15Caleb Hammer?

  Okay, Jim?

• 1:27:16Speaker 01

  Don't have one. Like, don't have a membership.

• 1:27:18Caleb Hammer?

  Pets? How many?

• 1:27:19Speaker 01

  Three.

• 1:27:20Caleb Hammer?

  Pet food, how much?

• 1:27:22Speaker 01

  Get it from Costco, so it's cheaper, but it's probably eighty dollars a month.

• 1:27:27Caleb Hammer?

  What are they, dogs, cats, what?

• 1:27:29Speaker 01

  I have two Rottweilers and a pit bull.

• 1:27:31Caleb Hammer?

  Okay, you have pet insurance?

• 1:27:33Speaker 01

  No.

• 1:27:33Caleb Hammer?

  It's irresponsible.

• 1:27:34Speaker 01

  My mother-in-law works at a vet clinic, she's the the manager of it.

• 1:27:37Caleb Hammer?

  So she can save a pet's life for free if they need a surgery?

• 1:27:41Speaker 01

  No.

• 1:27:41Caleb Hammer?

  Exactly, so you don't have pet insurance, it's irresponsible, let's call it forty bucks per, times that by three, hundred twenty dollars.

• 1:27:49Speaker 01

  I didn't even know you could get pet insurance.

• 1:27:51Caleb Hammer?

  You kidding me, what are you gonna do, you're gonna let them die?

• 1:27:53Speaker 01

  No, I just pay, I I say I pay for it, but I just.

• 1:27:55Caleb Hammer?

  Pay for a ten thousand dollar operation if you needed to. Exactly, if you have a pet and you don't have pet insurance, you're meaning you're allowing them to die, meaning you're not being a responsible pet owner in my eyes. I'm sure other people see it in a different way, but that is how I see it, because pets are everything to me.

• 1:28:10Speaker 01

  No, I would.

• 1:28:10Caleb Hammer?

  Phone bill.

• 1:28:11Speaker 01

  I would care credit, because we've been in a situation like that before.

• 1:28:13Caleb Hammer?

  Ten thousand dollars, thirty thousand, I did thirty, mine cost thirty thousand recently.

• 1:28:17Speaker 01

  Somebody broke my pit bull's leg, snapped it clean in half, and I put four grand on a care credit.

• 1:28:21Caleb Hammer?

  Yeah, what happens when it's thirty?

• 1:28:24Caleb Hammer?

  Phone bill.

• 1:28:26Speaker 01

  I don't pay, because I'm on my mom's account.

• 1:28:29Caleb Hammer?

  Is there one for your wife, kids?

• 1:28:31Speaker 01

  Doesn't pay one either, because she's on her mom.

• 1:28:33Caleb Hammer?

  What other expenses am I not aware of that your wife takes care of?

• 1:28:36Speaker 01

  Daycare.

• 1:28:37Caleb Hammer?

  Oh, how much?

• 1:28:39Speaker 01

  A thousand dollars a month.

• 1:28:44Caleb Hammer?

  Wait, I thought she works at home?

• 1:28:47Speaker 01

  He's part-time, the youngest, there's only one.

• 1:28:50Caleb Hammer?

  Can she take, can she sacrifice a little for that?

• 1:28:53Speaker 01

  We've tried, but the problem is.

• 1:28:55Caleb Hammer?

  Thousand, we probably, we just like simply can't, right? We're about to add this up and we know we can, right?

• 1:29:00Speaker 01

  Yeah.

• 1:29:01Caleb Hammer?

  Again, total household income, what was it, five, five, zero, zero, um, plus, two, four, zero, zero, so seventy-nine hundred a month. Not a bad household income, but where you've guys gotten yourself, so, let me do the math, let's find out, shall we, go ahead, tell me about this insurance, or the childcare?

• 1:29:20Speaker 01

  Um, so she's on the phone a lot at home, and he's not a work-from-home kid, so he goes to daycare.

• 1:29:25Caleb Hammer?

  Like?

• 1:29:26Speaker 01

  He's just, I mean, he's a typical three-year-old, just rambunctious and loud.

• 1:29:28Caleb Hammer?

  Okay.

• 1:29:29Speaker 01

  So he goes to daycare for the, for the front half, like he goes from eight to noon, and then when he comes home, takes a nap, by the time he wakes up for his nap.

• 1:29:37Caleb Hammer?

  Where are the grandparents?

• 1:29:38Speaker 01

  They work full-time.

• 1:29:39Caleb Hammer?

  How old are they?

• 1:29:41Speaker 01

  My grandparents, or my parents?

• 1:29:42Caleb Hammer?

  Your parents, yeah.

• 1:29:43Speaker 01

  My dad is sixty, and my mom is fifty-five.

• 1:29:47Caleb Hammer?

  Congratulations, man, if you actually budget, you made it.

• 1:29:52Caleb Hammer?

  You actually So I'm glad we did a budget. I am. You barely made it. I mean, let's be honest, you're break even, but because I'm sure there's expenses we haven't taken into account, food, TP, you know, you know, it's ebb and flow. You gotta make the budget together. But you made it by forty one dollars and forty five cents. So I'm considering that break even possibly under, possibly over, most likely over more than under. Because you and your wife need to sit down, take the budgeting class, learn how to make a budget and then manage it, figure out what it is together. So. Yes.

• 1:30:28Caleb Hammer?

  The thing is.

• 1:30:31Caleb Hammer?

  Working your schedule and all this stuff.

• 1:30:35Caleb Hammer?

  Following this budget like crazy all the way through February, you're still gonna have to essentially take out a ten thousand hour loan on the ten thousand car and probably eleven thousand, twelve thousand in order to roll the negative thing. If you do that, bro.

• 1:30:48Caleb Hammer?

  Now you might just have to take a little personal loan to deal with that and you might have to and then ten thousand hour, so you can use all the different lots in town. So you don't have to roll over and use that one lot.

• 1:30:59Caleb Hammer?

  That you're currently leasing with. So you're probably gonna add ten thousand dollars to this. But your minimum monthly payment, hopefully we get it closer to four to five hundred versus the seven hundred fifty for the car. And that actually starts giving you some room, but only like two hundred fifty dollars a room and two hundred fifty dollars a room. Let's just do some basic math here, buddy. I just want to put this perspective. You have that extra sheet of spending? No, you don't. Because I do. Just want to put this into any kind of perspective. If we take away the mortgage. And we add that ten thousand hour car loan. And we add that fifteen hundred you borrow to figure out that lease situation. You have eighty three thousand five hundred nine dollars of debt. If you follow this completely.

• 1:31:42Caleb Hammer?

  Sorry, actually, we have to get rid of the lease. Oh, the lease isn't on there because it wouldn't be. It's not, we're not, oh, oh, oh, no. Oh, we did. But that only takes you two thousand.

• 1:31:54Caleb Hammer?

  And hundred and seventy seven off. So, okay, eighty thousand five hundred thirty two, extra two hundred fifty dollars a month now. So that still takes you three hundred twenty two months to pay off debt, which is obviously unreasonable. Or twenty six years, which is not even close to reasonable because we need to be able to retire. So, this leads us to a few different interesting little things. Um, cancel the house, no way gained equity position necessary to, because you're gonna, it's gonna cost you what like? Five to ten percent to sell the house anyway, six to ten percent. So, it's not even worth that. Bankruptcy, um, bankruptcy might be an option. Maybe start talking to a bankruptcy attorney, get their thoughts on it.

• 1:32:35Caleb Hammer?

  Um, I'm gonna set you up with the free, you and your wife are gonna sit down with people who I use for my own financial advisors. Licensed financial advisors don't make money. And that we, uh, because of my situation, my partnership with them, everyone, everyone, including the audience and you gets a free session with them. If you sign up, so highly recommend that, like CPA or, um, licensed financial advisor. So do that, get their take on it. And see if they think bankruptcy is an option, but.

• 1:33:02Caleb Hammer?

  Probably stop your side hustles. If you really do have extra time to work, put it towards a guaranteed income. If you bring in a guaranteed income and extra thousand dollars a month, which is gonna be hard for you because I think you're already pushing your body to the max, I really do. I don't want you to end up in a dangerous position. Uh, but let's just pretend you do. Again, what was it eighty thousand dollars? I mean, it takes eighty months to pay off, so. What is that? That's still six and a half years. Um, might be bankruptcy. Right? And you know, and we're, you know, keeping the cars, keeping the house, but bankruptcy. ourselves for a bit and I can be able to take out credit, but you really start fresh. So for ten years in terms of being able to take advantage of any kind of leverage, but at least you and your wife get a relatively fresh start.

• 1:33:44Caleb Hammer?

  Not fully, still gotta figure out the mortgage situation, still gotta figure out car payments, but also that. You for.

• 1:33:51Speaker 01

  That's huh? Is it seven years on your credit report or whatever?

• 1:33:54Caleb Hammer?

  Depends which bankruptcy you go through, but it was just assume a decade. Um. But when you have to borrow to get this new car, you're gonna yourself there or you're gonna get something predatory. So there are consequences and negativity things. So there are options here. You work yourself to a limit that I wouldn't recommend and that still takes six years to pay off the debt, following the most rigorous budget ever. Or you're paying it off into your 50s. You know, going the other way without changing anything. And this doesn't even include you going back to school. I'm sorry, this is a doom and gloom right now. Um, the proper and better path is probably bankruptcy, which sucks. It's really the last option because

• 1:34:34Caleb Hammer?

  there it's expensive to go through bankruptcy and uh, you know, it's going to cause pressure on the house, on the household.

• 1:34:40Speaker 01

  My uh, so her, both her uncles actually filed for bankruptcy and did, they went really well for them. Yeah, they did the whole.

• 1:34:48Caleb Hammer?

  They have kids and.

• 1:34:50Speaker 01

  I think at the time they each were married with a single kid.

• 1:34:54Caleb Hammer?

  It can cause stress on the household. You know, people are gonna try to come get their money. It's gonna be fights. But it can work. It can work. And I think you've reached a situation where it might be the option. I want you to sit down with the domain money people first, though.

• 1:35:07Speaker 01

  Okay.

• 1:35:07Caleb Hammer?

  Really do. Um.

• 1:35:11Caleb Hammer?

  Okay. Yeah, I mean, that's my take. That's my take. I'm sorry. I wish I had a better answer. You could do the long way. You could do the midway or you could do the quicker way relatively, but then I think again, my big concern is what do you do about your car when the lease is done? If you do have bankruptcy and your credit is and then you have to borrow essentially to it bankruptcy won't be done by then probably anyway, so.

• 1:35:36Caleb Hammer?

  It's a hard one, man. Spending the budget, you overspend zero out of 10 debt. And you put yourself in such a beyond dangerous position, but you don't have IRS debt or collections. So one out of 10. Merchandise fund, nothing in savings, zero out of 10. Retirement, barely getting started, one out of 10. Real estate, you do have a house. No longer have an equity position. Uh, we got well 20% down, but again, if you sell the house, you're gonna lose guaranteed 10% so.

• 1:36:03Caleb Hammer?

  It's not great and it's 40% of the household income or 60% of yours.

• 1:36:10Caleb Hammer?

  I have to give it a mid five out of 10 because of all that.

• 1:36:16Caleb Hammer?

  Hammer Financial Score rounding up 1.5 out of 10. Come to the post show guys, we're gonna call the wife, I need to get her take on this, I need to confront her, and I need to see what their relationship with money is like with each other. And also make sure to bundle our three educational programs that over 10,000 people have taken advantage of. You get it all for 15% off if bundled. I'll see you guys in the post show. You told me because she doesn't trust you because you spend every dollar you see.

• 1:36:39Speaker 01

  Yeah.

• 1:36:40Caleb Hammer?

  But then why would you be the person responsible for paying the bills?

• 1:36:43Speaker 01

  Most of them are mine.

• 1:36:44Caleb Hammer?

  When I call her, is she gonna know you have late payments and hundreds of dollars of fees this year so far?

• 1:36:49Speaker 01

  Maybe.

• 1:36:49Caleb Hammer?

  Sounds like we need to give a little ring ring.

• 1:36:51Speaker 01

  I agree.

• 1:36:53Caleb Hammer?

  Why do you allow Cole to be the one that's in control of paying the bills? That is not what he said.

• 1:37:02Speaker 03

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