Arrogant Freak Thinks He Knows More About Money Than Me | Financial Audit

▶This dude keeps falling into PUMP AND DUMP scams and I completely expose him in today's post-show, watch here: https://www.youtube.com/channel/UCLe_q9axMaeTbjN0hy1Z9xA/join ▶▶Bundle my budgeting, debt + investing program for *15%* *off* : https://calebhammer.com/classpack/ Go to https://meetfabric.com/CALEB and apply today, risk-free ▶▶▶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://soficreator.pxf.io/c/5535481/2083783/25681?adcampaigngroup=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 3) Get $20 from Acorns for free: sign up to get your bonus https://acorns.com/caleb 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

  A hundred thousand dollars in debt.

• 0:04Caleb Hammer?

  A hundred thousand? What was the debt?

• 0:06Speaker 01

  Credit cards mostly.

• 0:08Caleb Hammer?

  Hundred thousand hours of credit cards?

• 0:09Speaker 01

  Clothes, vacations.

• 0:11Caleb Hammer?

  Oh.

• 0:12Speaker 01

  The idea is I can get what I want right now and pay for it later.

• 0:16Caleb Hammer?

  But you didn't pay for it later!

• 0:17Speaker 01

  With the influx of amazing customers that I get this year.

• 0:22Caleb Hammer?

  Why would they trust you?

• 0:23Speaker 01

  Look at me. I'm adorable.

• 0:25Caleb Hammer?

  Yeah, I wouldn't. So, really are up here. This is crazy.

• 0:29Speaker 01

  Okay, but I disagree.

• 0:33Caleb Hammer?

  All of our education is bundled together for 15% off with a 30-day money-back guarantee. Go to CalebHammer.com/bundle or click the link in the description or pinned comment below.

• 0:42Speaker 01

  Hi, I'm CJ. I'm 33 years old. I live in Austin, Texas, and I'm on Financial Audit.

• 0:48Caleb Hammer?

  Yes, you are. And what do you do in Austin, Texas for a living?

• 0:52Speaker 01

  Uh, I am a hairdresser and I also build websites for beauty pros.

• 0:57Caleb Hammer?

  Hmm, ah, yes. I, I see. Yeah.

• 1:01Speaker 01

  You see it?

• 1:02Caleb Hammer?

  I, I can vision this. Okay, very cool. So, two jobs. Let's start with the first one, hairdresser. What are you making dressing that hair?

• 1:09Speaker 01

  What do I make? Uh, I would say I'm on commission, so it ranges, but I would say probably about 70K a year.

• 1:18Caleb Hammer?

  Why the [bleep] do I have debt in front of me right now? Okay, so that's just one job, 70,000 dollars a year. Uh, by the way, essentially the median household income in the city of Austin, Texas, household, just you, from one job, and then you build websites for RuPaul or something? So, what?

• 1:37Speaker 01

  I wish.

• 1:38Caleb Hammer?

  What? How much do you make with that?

• 1:41Speaker 01

  Uh, I would say probably like an extra 20K a year.

• 1:45Caleb Hammer?

  This is incredible. Okay, so we're looking at 90,000 dollars a year. Adding to my confusion of the stack in front of me, it really doesn't make sense. Also, that just, that also doesn't really, how about the money that came in? What, what came in from the most recent month?

• 2:01Speaker 01

  What do you mean?

• 2:02Caleb Hammer?

  Money. What came in?

• 2:04Speaker 01

  What came in? Like?

• 2:05Caleb Hammer?

  Oh, yeah.

• 2:06Speaker 01

  Exact amount?

• 2:07Caleb Hammer?

  Sure.

• 2:07Speaker 01

  Hmm. I would say probably like forty four hundred from the salon ish. Cause I did take some time off recently, so.

• 2:18Caleb Hammer?

  Mm hmm. How much time did you take off in the last month?

• 2:21Speaker 01

  About a week. So that like hits me hard.

• 2:24Caleb Hammer?

  Okay, well forty six, forty six, forty sixty three.

• 2:28Speaker 01

  Okay.

• 2:28Caleb Hammer?

  And then?

• 2:30Speaker 01

  I didn't do any like, I actually, I'm switching my website kind of like strategy right now. So I'm gonna start building the websites for free for the people and then they sign up. Wait, they sign up for a subscription for me to host them.

• 2:45Caleb Hammer?

  Okay, to host?

• 2:46Speaker 01

  Recurring, yes.

• 2:47Caleb Hammer?

  Okay, then you host like on?

• 2:49Speaker 01

  I have my own website builder.

• 2:52Caleb Hammer?

  Yeah.

• 2:52Speaker 01

  So like Squarespace, but for beauty.

• 2:56Caleb Hammer?

  Okay, and if that money is no longer coming in, what's it gonna take to build up to that twenty thousand dollars a year again?

• 3:03Speaker 01

  Getting enough people to sign up for hosting.

• 3:05Caleb Hammer?

  How much does it cost to host a site?

• 3:07Speaker 01

  It'll cost them about thirty nine dollars.

• 3:10Caleb Hammer?

  A month?

• 3:11Speaker 01

  After, after my expenses, it'll be, I'll make about thirty per person per month.

• 3:19Caleb Hammer?

  Wait, well, I'm sorry, what's their monthly fee again?

• 3:22Speaker 01

  Thirty nine.

• 3:23Caleb Hammer?

  And you'll make about thirty?

• 3:24Speaker 01

  Mm hmm.

• 3:25Caleb Hammer?

  Net?

• 3:26Speaker 01

  Yeah.

• 3:26Caleb Hammer?

  And I have to ask this because of the history of this damn show. Please be a good answer. That doesn't make me wanna stick a gun in my mouth right now.

• 3:37Caleb Hammer?

  You've paid these taxes as you are.

• 3:41Speaker 01

  Yes.

• 3:41Caleb Hammer?

  Set it. Okay, you actually pay your taxes?

• 3:43Speaker 01

  I do pay my taxes.

• 3:45Caleb Hammer?

  Interesting. This is, this is like, uh, new. That's like groundbreaking in the history of the show.

• 3:53Speaker 01

  Lots of new things today.

• 3:55Caleb Hammer?

  Okay, what else?

• 3:57Speaker 01

  My outfit.

• 3:58Caleb Hammer?

  Oh yeah, you look a little excited. That's, and that's fun. So three hundred and sixty dollars a month, okay? Three hundred and sixty dollars a month. And you're trying to, trying to replicate twenty thousand? Or three hundred and sixty dollars a year, sorry. You're trying to replicate again twenty thousand?

• 4:17Caleb Hammer?

  This commission, is that paid out W2 or are you contracted within the salon?

• 4:20Speaker 01

  W2.

• 4:21Caleb Hammer?

  Okay, so that those taxes are withheld and then the 20,000 hours that has come in, you set what like 20% aside or so? Have you claimed that all accurately? You work with a CPA?

• 4:32Speaker 01

  I work with myself, but yes, I have done it accurately.

• 4:36Caleb Hammer?

  Okay.

• 4:36Speaker 01

  Hopefully.

• 4:37Caleb Hammer?

  No fear of an audit?

• 4:38Speaker 01

  No.

• 4:39Caleb Hammer?

  Not that I think you'd be targeted anyway. You essentially need 55 clients a year. How many clients are you working with? 55 that are reoccurring, never cancelling their hosting? And what have you, how many clients did you work with this last year?

• 4:52Speaker 01

  25.

• 4:55Caleb Hammer?

  Okay, so you'll only be at half of what you're coming in. So you're cutting that extra revenue in half. Essentially unless you scale your business to doubling in the next year. How long does a website take to build?

• 5:06Speaker 01

  I can build one in three hours.

• 5:09Caleb Hammer?

  Okay, why are they paying you for this? Why are they just going on square paces and plugging and playing?

• 5:14Speaker 01

  Well, a lot of people, especially in the beauty industry, don't know how to do tech at all and they don't want to. They don't have the time, especially if they own their own business. Um, so they reach out to me to build it. And I, I mean, it's definitely not easy to get, you know, 1800 from somebody for a website when there is Squarespace and stuff, but that's kind of why I'm switching my strategy to more of like, I make it for them for free and then they just sign up with a subscription.

• 5:42Caleb Hammer?

  Uh huh. Okay. When are you launching that?

• 5:45Speaker 01

  In January is when I, I mean, I've already started making some free websites for people, but January is like, kind of when I'm gonna go for it.

• 5:52Caleb Hammer?

  Okay.

• 5:53Speaker 01

  And I would like to replace my salon income with that. So.

• 5:56Caleb Hammer?

  Completely.

• 5:57Speaker 01

  Completely.

• 5:57Caleb Hammer?

  How, how, what are you talking about? You're, so you're up to 90,000 is what you're trying to get to before taxes 360. You have to have 250 monthly reoccurring, non-canceled people on a monthly basis, meaning whatever your churn rate is, you have to at least, at least fill those on a monthly basis. You have a strategy for that?

• 6:17Speaker 01

  Cold DMing.

• 6:18Caleb Hammer?

  Oh, well, I mean, that's sales in a certain way. So 4,643 came in. How much went out in the last month? How much went out?

• 6:27Speaker 01

  I don't know.

• 6:28Caleb Hammer?

  No, of course not. Cause why would you know your numbers?

• 6:35Caleb Hammer?

  Like that wouldn't be helpful in this world at all.

• 6:38Speaker 01

  It would be.

• 6:39Caleb Hammer?

  Um, that it kind of that explains the debt in front of me. What the is that saying your belt most chino?

• 6:47Speaker 01

  Moschino.

• 6:48Caleb Hammer?

  The is a mosquito.

• 6:50Speaker 01

  Moschino is a brand, a luxury brand.

• 6:53Caleb Hammer?

  You have that you don't track your number. You're wearing luxury blends brands. How much of those sunglasses where I can't see your eyes?

• 7:00Speaker 01

  Hmm, like eighty dollars. But I bought this belt a few years ago, so.

• 7:05Caleb Hammer?

  How can you not track your money, not know what's coming in, not come know what's going out? Even more importantly, yet you want to fully replicate your income with a business? Completely, fully switch over to that. As in you running your own business, but you have no idea what's going out. How could you possibly do that? Do you know what your debt is? Do you understand your debt situation?

• 7:29Speaker 01

  Somewhat, yeah.

• 7:30Caleb Hammer?

  What is somewhat?

• 7:31Speaker 01

  I know I know what my debt is pretty much. You know, not the exact numbers, but.

• 7:37Caleb Hammer?

  Wouldn't that be knowing what your debt is? What you know who the account holders are? Is that what you're saying? You know, like, well, what is knowing your debt? Well, I don't know the numbers, but I know my debt.

• 7:47Speaker 01

  I know about how much everything.

• 7:48Caleb Hammer?

  Okay, then know about how much went out this last month.

• 7:52Speaker 01

  I have no idea.

• 7:53Caleb Hammer?

  How? How do you not even just have a semblance?

• 7:57Speaker 01

  Um.

• 7:59Speaker 01

  I don't know. I just kind of.

• 8:01Caleb Hammer?

  What do you think? Based on you knowing your life, what do you think went out this last month?

• 8:07Speaker 01

  Probably.

• 8:10Speaker 01

  Three thousand five hundred?

• 8:12Caleb Hammer?

  You brought in four thousand six hundred. Do you think three thousand five hundred went out, meaning you saved about a thousand bucks?

• 8:18Speaker 01

  No.

• 8:19Caleb Hammer?

  Then give me another answer, one more accurate.

• 8:23Speaker 01

  Forty four hundred.

• 8:24Caleb Hammer?

  Okay, so you think you saved a couple hundred bucks?

• 8:28Speaker 01

  Mm hmm.

• 8:28Caleb Hammer?

  Yeah, you spent six thousand six hundred forty seven. What the are you talking about? No wonder you have debt ninety thousand dollars. You pay your taxes, I'm glad, hopefully accurately. Why would you have debt? Give me an idea into your financial situation. You're not a reliable narrator for the money that goes out, obviously, because you don't even know the numbers and you know what about it is your debt is. But go ahead. Why are we in debt? What are we looking at today?

• 8:53Speaker 01

  Okay, so one of my debts is my student loan, which is around fifty three thousand.

• 9:00Caleb Hammer?

  That's the least concerning.

• 9:03Speaker 01

  My credit cards. I definitely had a worse past with, you know, debt,

• 9:11Speaker 01

  with shopping and all of that.

• 9:13Caleb Hammer?

  What's past?

• 9:15Speaker 01

  Past.

• 9:18Caleb Hammer?

  What are we calling?

• 9:18Speaker 01

  Are you ready?

• 9:19Caleb Hammer?

  Past.

• 9:19Speaker 01

  Are you ready for it?

• 9:20Caleb Hammer?

  I'm sitting here filming the show. What are you doing? What?

• 9:24Speaker 01

  So in 2020, I filed for bankruptcy because I had

• 9:27Caleb Hammer?

  No.

• 9:27Speaker 01

  a hundred thousand dollars in debt.

• 9:30Caleb Hammer?

  A hundred thousand? What was the debt?

• 9:32Speaker 01

  Credit cards mostly.

• 9:34Caleb Hammer?

  Why would we have credit cards today then if, without changing your behavior and you had to go through bankruptcy?

• 9:41Speaker 01

  I mean, it is.

• 9:41Caleb Hammer?

  Fuck's venture even approving you?

• 9:44Speaker 01

  It is a lot less debt now.

• 9:46Caleb Hammer?

  No, because you went through bankruptcy. But why are we back in debt? Did you not learn your lesson? Bankruptcy is not cheap. It's thoroughly cheaper than a hundred thousand dollars, but it's also not stress free. Why are we back in debt? Why have we not? Okay, well, so mostly credit card? Hundred thousand dollars of credit cards for red?

• 10:05Speaker 01

  For clothes, vacations.

• 10:08Caleb Hammer?

  Oh. What were you, what were you making at that time?

• 10:13Speaker 01

  Probably similar, around like seventy five, eighty K.

• 10:16Caleb Hammer?

  Have you ever budgeted?

• 10:19Speaker 01

  Not really.

• 10:19Caleb Hammer?

  Then why would we go through bankruptcy without at least learning how to budget to prevent us from going through bankruptcy again?

• 10:27Speaker 01

  Hmm, I'm not sure. I just really like payment plans.

• 10:31Caleb Hammer?

  You like payment plans?

• 10:33Speaker 01

  Yeah.

• 10:33Caleb Hammer?

  What is liking payment plans? Why? That leads you to the situation where you have to go through bankruptcy. Do you want to get a house?

• 10:41Speaker 01

  I do.

• 10:41Caleb Hammer?

  Okay, then having bankruptcy only four years on your record.

• 10:49Speaker 01

  Yeah.

• 10:49Caleb Hammer?

  Leading to having to go down that path again because I like payment plans.

• 10:56Speaker 01

  I used to have a house when I lived in Vegas.

• 11:00Caleb Hammer?

  Yeah, okay. Yeah, I feel like you're a hatch out of an egg in Vegas. That makes sense.

• 11:06Speaker 01

  It was just a, it was a different lifestyle.

• 11:08Caleb Hammer?

  What happened to the house?

• 11:10Speaker 01

  Uh, me and my partner broke up, so we sold it.

• 11:13Caleb Hammer?

  You sold it? So did you get money?

• 11:15Speaker 01

  We made money, but I gave most of it to him because he paid for a lot of the renovations.

• 11:19Caleb Hammer?

  Okay, so that's fair, but did you get any?

• 11:21Speaker 01

  I got like six thousand out of it.

• 11:24Caleb Hammer?

  Where'd that six thousand go? When did you sell this house?

• 11:26Speaker 01

  I sold it in twenty seventeen.

• 11:29Caleb Hammer?

  You want a house again? How the, you're not even close to getting to those goals, though. You're destroying your credit. You're headed there again. Bankruptcy isn't anywhere near to falling off of your credit right now.

• 11:40Speaker 01

  No, it's not, but it got rid of all the debt.

• 11:42Caleb Hammer?

  Yes, but you're headed towards there again. You're building it again because I like payment plans. Go ahead. Tell me, why do we like payment plans? What is your logic behind there? What is the idea?

• 11:56Speaker 01

  I mean, the idea is I can get what I want right now and pay for it later.

• 12:01Caleb Hammer?

  Wow, okay. So like literally the basic definition, you just told me what a payment plan is.

• 12:05Speaker 01

  Yeah, and that's why I like it.

• 12:07Caleb Hammer?

  But you didn't pay for it later. You declared bankruptcy.

• 12:12Speaker 01

  That was then.

• 12:13Caleb Hammer?

  You're headed there again? What the are you talking about? Oh, that's funny. We're destroying our life and we're not getting to the goals we want to get to. That's hilarious. It's a comedy show, just like we're back in Vegas, or you moved to Austin to be a stand-up little comedian? Doing little jokes on how our life is a completely failure? And it's a good joke? That's great. Yeah, I've had our eyes from the internet with red to hide the tears of our failure of a life. That's hilarious. Mm hmm. That's great. Well done.

• 12:43Speaker 01

  Thank you.

• 12:46Speaker 01

  Yeah.

• 12:49Caleb Hammer?

  Yeah, what?

• 12:51Speaker 01

  I'm just thinking about my life, you know?

• 12:54Caleb Hammer?

  And what are you thinking?

• 12:56Speaker 01

  I don't know, honestly.

• 13:00Caleb Hammer?

  You didn't change behavior when you went through bankruptcy. And now we're headed to here again, but you're okay with it because I like payment plans. It didn't work. You gave me a basically a two part definition of payment plans. I can get what I want now and pay for it later. You only did the first part and you're only doing the first part. You're not doing the pay for it later. So you don't even do the thing you like.

• 13:28Speaker 01

  I do make my payments.

• 13:30Caleb Hammer?

  Minimums?

• 13:31Speaker 01

  Yeah.

• 13:33Caleb Hammer?

  That doesn't count for anything. This first credit card, how long does it take to pay off if you only do the minimum of payments without purchasing? Which by the way, you purchase on every single one of them. So how long does it take to pay off?

• 13:43Speaker 01

  About like, I think I read it's like 20 something years.

• 13:46Caleb Hammer?

  16 for this one.

• 13:47Speaker 01

  Okay.

• 13:47Caleb Hammer?

  But you're okay with 20, you're okay with 16? So we're getting a house in when our, when we're in our 50s, our mid 50s.

• 13:54Speaker 01

  I mean, maybe 50s, yeah, because I don't, I don't want a house like anytime soon.

• 13:58Caleb Hammer?

  You said that was a goal.

• 13:59Speaker 01

  I mean, a goal.

• 14:01Caleb Hammer?

  What, what other goals do you have then?

• 14:02Speaker 01

  Move to Thailand.

• 14:04Caleb Hammer?

  Why? To escape this?

• 14:06Speaker 01

  To escape America.

• 14:07Caleb Hammer?

  To escape America? What are you escaping?

• 14:10Speaker 01

  The expensive America that we live in.

• 14:13Caleb Hammer?

  Yeah, but that comes with the cost, the income that you're receiving as well. I mean, I get if you're doing the website hosting, but even still, you're still probably going to host through American services, right? Like AWS or something when you're in Thailand. Okay, so the expensiveness, but your income's not necessarily going to follow, especially the hairdressing income. You're going to get pennies on the dollar for your hairdressing in Thailand.

• 14:33Speaker 01

  I mean, the, the goal is to build my online business so I can move to Thailand and live way cheaper.

• 14:40Caleb Hammer?

  Yeah, you're never going to survive the world of business. If I didn't know how much was going out, this business wouldn't exist today.

• 14:46Speaker 01

  Okay, but I disagree.

• 14:48Caleb Hammer?

  How do you disagree? Go ahead, defend that.

• 14:50Speaker 01

  Because people need websites. It's something, it's a kind of a business that you don't have to. There's not a lot of churn. Once people have a website, there's not a lot of churn. Like, once people have a website, they're not going to get rid of their website until they get rid of their business, or they don't have any money.

• 15:07Caleb Hammer?

  Who says they have to host it with you?

• 15:08Speaker 01

  They want to host it with me.

• 15:10Caleb Hammer?

  Yeah, who says they have to, though? I bet a few in the industry absolutely want to, but you're required to get up to 250 without any churn whatsoever. And that's everything going well, and you not spending more than you make. Again, right now, you spend more than you make, so it doesn't make any sense. Everyone needs a website. Guess what? There are services out there that people can use that is more reliable from companies that are managing their money correctly. You'd be risky to have a website with. If I did a website with you, I want to know if you're going to be in business in the next six months. Why would I build a website with you? I'd be scared. It's a new year, and we're all thinking about goals. Going to the gym, saving money, maybe eating fewer taquitos. But let's be real, most resolutions don't last past February. What if this year, you made a resolution with real impact?

• 15:54Caleb Hammer?

  Like, making sure your family is protected if something unexpected happens. Today's sponsor, Fabric by Gerber Life, makes this process easy to sign up and stick with. Fabric offers term life insurance that you can apply for online, right from your couch, on your schedule. You could be approved instantly with no health exam required. Seriously? In as little as 10 minutes, you could be covered and your family's financial future can be a little more secure than it was before you started watching this video. You're welcome. Because, let's be real, if you've got kids or loved ones who depend on you, the time to lock in coverage is now, especially if you're young and healthy. Even if you already have life insurance through work, it might not be enough. Plus, those policies don't usually follow you if you leave your job.

• 16:38Caleb Hammer?

  With Fabric, you can lock in policies for up to $1 million in coverage for less than a dollar a day. And Fabric isn't just about life insurance. They're your one-stop shop for financial preparedness, offering tools like free digital wills, access to college saving funds, and kids' investment accounts. Everything is streamlined and easy to manage right from your phone. No jumping between outdated, old-school portals or clunky systems, because we all know you deserve better than that. Fabric has partnered with Gerber Life trusted by families for over 50 years and they have the receipts to back it up with over 1,900 five star reviews on TrustPilot with an excellent rating. Thousands of families just like yours use and trust Fabric, so you should too. So let's make a resolution that actually matters

• 17:23Caleb Hammer?

  this year. Join the thousands of parents who trust Fabric to help protect their families. Apply today at meetfabric.com/caleb or head to the link in the description below. That's meetfabric.com/caleb, M E E T fabric.com/caleb.

• 17:38Speaker 01

  The good thing is that the company, so basically I have a white label website builder, so I'm not hosting it at all. So if they fail, that's their problem.

• 17:50Caleb Hammer?

  No, no, no. You fail. You fail. You fail. I didn't say them. I said you. Why would they trust you?

• 17:59Speaker 01

  Look at me. I'm adorable.

• 18:02Caleb Hammer?

  Yeah, I would. Adorable? You trust adorable?

• 18:05Speaker 01

  Yeah, in the beauty industry.

• 18:06Caleb Hammer?

  Oh, you're stupid. Okay. I mean, that was the dumbest response I've ever heard in my life. You don't have an actual reason for them to trust you. So you try to get out of that actual real logistic pushback for how your business might actually survive because I want your business to survive because I want you to hit your goals. So you receive real pushback for the first time in your delicate little life. And then what do you do? You deflect it by trying to make a little joke. It's not, buddy. I want you to get there. But we get there by understanding what has to go right to get there and what challenges are we facing? And I brought up a very accurate, basic

• 18:46Caleb Hammer?

  challenge. Simple fact is businesses that spend more than they make, yeah, they fail. Why would they trust you?

• 18:57Caleb Hammer?

  Not because you're adorable. Give me a real answer businessman.

• 19:01Speaker 01

  Okay, the real answer is is because my websites are beautiful.

• 19:04Caleb Hammer?

  Okay.

• 19:05Speaker 01

  And that's what they want.

• 19:05Caleb Hammer?

  So the good design part, they're very excited, but would they not be afraid at the fact that if you go down, the middleman is gone, the person that they trusted to build, manage, maintain, host is gone. Any tweaks they want to make with their businesses, they have a nice little beauty thing, but they might launch a new uh product in their beauty thing and they would need your help, right?

• 19:27Speaker 01

  Yes.

• 19:28Caleb Hammer?

  Okay, but what if you're not there anymore? Because one, you have a 12 hour time difference. Two, you just, your business goes under. You go through bankruptcy again. They come for your assets.

• 19:40Speaker 01

  If I go through bankruptcy again, the good thing is that their websites are hosted on a server that is not mine. And so if I go down, their website's still there.

• 19:50Caleb Hammer?

  Yeah, but they can't make any tweaks to it. They'd essentially have to claim that ownership and get it to someone else again.

• 19:57Speaker 01

  Yes.

• 19:58Caleb Hammer?

  Another builder.

• 20:00Caleb Hammer?

  Okay, yeah, that makes me uh

• 20:04Caleb Hammer?

  very confident.

• 20:07Speaker 01

  You should be.

• 20:08Caleb Hammer?

  As a customer? I should be.

• 20:11Speaker 01

  They're pretty confident.

• 20:12Caleb Hammer?

  How long have you been doing this?

• 20:13Speaker 01

  Uh about two years.

• 20:15Caleb Hammer?

  Okay. It's a halfway okay track record.

• 20:19Speaker 01

  Yes.

• 20:19Caleb Hammer?

  Sounds like the longest.

• 20:21Speaker 01

  No.

• 20:23Speaker 01

  I mean, the business is definitely like not profiting at all.

• 20:28Caleb Hammer?

  How, how, how, shut the, how, how, how, how? You said it costs $29, but you get 20 of the 29. How is that not profit? Those margins are not bad by any measure. What the fuck are you talking about not profiting at all?

• 20:40Speaker 01

  So the, the builder itself costs money each month. So there's that. That's $129 and then each person.

• 20:48Caleb Hammer?

  Your math was wrong then. Why'd you tell me it costs, you get 20 of every 29? That's obviously incorrect.

• 20:54Speaker 01

  30 of every 39, but.

• 20:56Caleb Hammer?

  Sorry, yes.

• 20:56Speaker 01

  The website builder itself is 129 a month. So there goes that. Um I do invest into ads.

• 21:04Caleb Hammer?

  29 a month isn't bad though. You just need a few customers and you're good.

• 21:08Caleb Hammer?

  So how are you not getting a profit?

• 21:10Speaker 01

  I spend it on myself and.

• 21:13Caleb Hammer?

  No, that's personal spending. That's not business spending. Ads, okay. Ads for what? You said you're cold DMing. You're getting Google ads? Okay.

• 21:21Speaker 01

  My new strategy is cold DMing. The old strategies were not working.

• 21:27Caleb Hammer?

  Gosh, I would love to see your marketing campaign and what it looked like. I love it. Maybe we can take a look.

• 21:33Speaker 01

  I'll send it to you.

• 21:34Caleb Hammer?

  Oh, maybe we can take a look in the post show. It could be fun because I don't want to plug your product to the main audience.

• 21:39Speaker 01

  I get it.

• 21:39Caleb Hammer?

  I don't allow. We don't allow that.

• 21:42Speaker 01

  Understood.

• 21:45Caleb Hammer?

  Can the audience even see your eyes? Take off your glasses.

• 21:49Speaker 01

  I'd like to keep them on, please.

• 21:50Caleb Hammer?

  Why?

• 21:51Speaker 01

  It's a RuPaul's reference. You obviously don't watch it.

• 21:54Caleb Hammer?

  I watched one season. It was entertaining. It's a long time ago.

• 21:57Speaker 01

  Okay, I'll take them off.

• 21:58Caleb Hammer?

  Yeah, let people just see your beautiful full face.

• 22:01Speaker 01

  Thank you.

• 22:01Caleb Hammer?

  Okay. Okay. I want to know where you think your finances are today. I want you to give me a score of zero to 10, zero being the absolute worst 10 being the absolute best. Where do you think you are today?

• 22:13Speaker 01

  A seven.

• 22:19Caleb Hammer?

  Did you understand the scale?

• 22:22Speaker 01

  I did.

• 22:23Caleb Hammer?

  Go ahead. Explain.

• 22:26Speaker 01

  I just feel like I'm on like a good trajectory right now with my goals.

• 22:29Caleb Hammer?

  It's not about trajectory, though. And also, no, you're not. You said your goal is fucking houses.

• 22:35Caleb Hammer?

  How?

• 22:36Speaker 01

  I have goals, but they are not necessarily like right away goals. Maybe my house is like a 20 year from now.

• 22:41Caleb Hammer?

  But trajectory, you're not on it, though. That doesn't make sense. And also, it's not about trajectory. It's about where you literally are right now. I asked where you are, where you think your finances are, not where you think your finances are going.

• 22:56Speaker 01

  I still feel like I'm at like a seven.

• 22:58Caleb Hammer?

  Defend it. Explain.

• 23:02Speaker 01

  My explanation.

• 23:03Caleb Hammer?

  Numbers. Finances wise, why do you possibly think you're at a seven?

• 23:09Speaker 01

  Um, I haven't taken out any more debt recently.

• 23:13Caleb Hammer?

  What's recently? When was your last debt? Your debt still? August isn't that long ago. What was the debt in August?

• 23:21Speaker 01

  Uh, I took out a personal loan.

• 23:23Caleb Hammer?

  Are you? What are you? What are you talking? If you want your hammer financial scoring, want to see where you actually are today? Today, not where you're going. Go to the link in the description below. It's free and we'll calculate your score for you when you take the quiz. And if you want to come on the show and you don't want to wear sunglasses on camera, you can come down here. Come down here to Austin, Texas. We'll have you. It'll be a good time. I'll give you some punches, but we'll get you on the right track and get you connected to resources. And go to Calebhammer.com/apply. We'd love to have you on the show. Maybe not you.

• 23:58Speaker 01

  I'm already here.

• 23:59Caleb Hammer?

  I know. And that's why I'm continuing this.

• 24:02Speaker 01

  Did you want to know why I took out that personal loan?

• 24:05Caleb Hammer?

  Yeah, maybe we get to it and then we talk about it.

• 24:08Speaker 01

  Okay, so originally I took it out.

• 24:10Caleb Hammer?

  Maybe we get to it and then we talk about it.

• 24:12Speaker 01

  Okay.

• 24:13Caleb Hammer?

  Was my answer to your question.

• 24:16Speaker 01

  I just heard.

• 24:16Caleb Hammer?

  Do you hear?

• 24:17Speaker 01

  I just heard we talk. I just heard, let's talk about it, basically.

• 24:24Caleb Hammer?

  Oh, Capital One Venture One. And just, I'm so curious how you got approved for a $3,500 credit limit.

• 24:32Speaker 01

  I've built up my credit since 2020.

• 24:34Caleb Hammer?

  What's your credit score?

• 24:35Speaker 01

  720.

• 24:36Caleb Hammer?

  Your credit score is 720?

• 24:38Speaker 01

  Mm hmm.

• 24:39Caleb Hammer?

  Really? Wow, I'm surprised that bankruptcy is not holding it down a bit more.

• 24:45Speaker 01

  I definitely don't get approved much anymore, especially with the balances. But in the beginning, I got approved for everything. It was like, I didn't get turned away at all.

• 24:55Caleb Hammer?

  Well, nothing got good, right, though?

• 24:58Speaker 01

  No, I mean, like, right.

• 24:59Caleb Hammer?

  I've seen the interest rates on these things. We weren't getting like, good lines of credit.

• 25:02Speaker 01

  No, the interest rates are insane. But like, initially after the bankruptcy, I was approved for like, three cards.

• 25:09Caleb Hammer?

  I always recommend people like you use like, the Fiz card. It's the debit card that builds credit that we use for the audience and you, but I don't know if you'd get approved.

• 25:19Speaker 01

  Well, I did. I did use one. It was a credit builder card when I first, after bankruptcy. And that did help me kind of build it back up. And then I would get approved for other cards after that.

• 25:30Caleb Hammer?

  All right. So we got the Capital One Venture. On here, we owe $2,608.19. You have 16 years to pay off. Now, of course, you made a decent payment, but you're still purchasing while interest is accruing. Why are we purchasing on a card that we cannot fully pay off where interest is accruing? So the question is old as time on the history of this show. Why the are you purchasing?

• 25:55Speaker 01

  The points.

• 25:59Caleb Hammer?

  Do you

• 26:01Caleb Hammer?

  math? Math? If we heard of math? Do you know how the point system works? Do you know how the interest works? Is it making any sense? Is it mathematically working? Can you defend it? Can you define it? Can you tell me how this works?

• 26:24Speaker 01

  I know how it works. I just choose to ignore it.

• 26:28Caleb Hammer?

  Well.

• 26:30Speaker 01

  I like getting the points for the airfare.

• 26:33Caleb Hammer?

  Yeah, after you could have bought like three tickets with the interest that accrued?

• 26:39Speaker 01

  Yes.

• 26:39Caleb Hammer?

  Why the are you here right now?

• 26:41Speaker 01

  Because I need help.

• 26:42Caleb Hammer?

  That was the dumbest thing I've ever heard in my life, though.

• 26:47Caleb Hammer?

  But you're not gonna, you're not gonna get anywhere if it's a fun little cutesy thing. If it's a fun little cutesy thing, a cutesy thing's nothing. This isn't cute. No one's laughing with you. No one's looking up to you right now. You're acting like a child and you'll be laughed at like a laughing stock with that. You don't have to be cute and funny. This is your life. 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.

• 27:28Caleb Hammer?

  And then there's the investing program where I teach you to define what investing profile applies to you and your life and then teach what specific investing strategies applies to you in that situation. And now finally, we have our debt program where I teach you the best ways to pay off debt, manage debt and even take advantage of good debt. This has been a revolutionary project that we've been working on for over a year now. And just like over 10,000 people who've already taken our educational programs, 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.

• 28:12Caleb Hammer?

  Head to Calebhammer.com or click the link in the description below. You will not regret this. It is not cute to go and up your finances to get a couple little points.

• 28:26Speaker 01

  I like them.

• 28:29Caleb Hammer?

  You like them, but you know how this works.

• 28:32Speaker 01

  I do.

• 28:33Caleb Hammer?

  Then why?

• 28:34Speaker 01

  It's very all over the place with me.

• 28:39Caleb Hammer?

  What does that even mean?

• 28:40Speaker 01

  I choose to live my life however I want.

• 28:43Caleb Hammer?

  Yes, but you said you want help. So obviously that's not fucking working, child.

• 28:50Speaker 01

  That's why I'm here.

• 28:52Caleb Hammer?

  Then why don't you actually acknowledge the reality of, hey, maybe this point system that I'm trying to take advantage of is taking advantage of me and betting me over on a daily basis?

• 29:03Speaker 01

  I can acknowledge it.

• 29:05Caleb Hammer?

  You can acknowledge it. Are you gonna make any changes around it? Are you gonna be a little cutesy, a little?

• 29:12Speaker 01

  Well, I mean, I can still get my points if I pay with the card and then immediately pay it off. I still get the points.

• 29:18Caleb Hammer?

  Buddy, interest is accruing on here and you're not paying off the full balance. There's a balance of $2,608. I don't think you know what payoff means. You don't know what payoff means.

• 29:32Speaker 01

  I mean, it'll happen within the next 10 months, like you said.

• 29:35Caleb Hammer?

  I didn't say that. I said 16 years.

• 29:39Speaker 01

  Well, after coming on this show.

• 29:40Caleb Hammer?

  16 years, you little shit.

• 29:42Speaker 01

  After coming on this show, you said your guests pay off within average of 10 months, so.

• 29:48Caleb Hammer?

  Oh, pay, pay, well, uh, median 10,000 in 10 months, but those are the ones who put in the work. In that median, there are also people who have fucked up and there are more people that have done well. You could head up, you could go down the fucked up column while others are still doing well. If you think it's cutesy to get your little points.

• 30:07Speaker 01

  I mean, as long, I think as long as in the future, I just pay it off immediately, you know, if I.

• 30:11Caleb Hammer?

  In the future, you're not, you're not, you're spending 2,000 more than you make. How would you pay off a credit card that has a balance of $2,608?

• 30:23Speaker 01

  Maybe not pay off, I don't mean pay off the whole thing.

• 30:25Caleb Hammer?

  Then why, why would we purchase on a card that is accruing interest that is not being paid off? If you just pay off your purchases, this doesn't make any sense. You want to make progress on it. Cause if you're not making progress on it, that interest is accruing and then you get to the point where, uh, almost a thousand dollars this year was accrued in interest on this card so far. You did not get a thousand dollars in airline miles. You did not. When's the last time you used your little airline miles?

• 30:49Speaker 01

  A year ago.

• 30:50Caleb Hammer?

  So shut the up.

• 30:52Speaker 01

  Okay, but hear me out here.

• 30:54Caleb Hammer?

  I'm hearing and it's all stupid.

• 30:56Speaker 01

  What if I spend a hundred, let's say I spend a hundred dollars at the grocery store, I get my points for it.

• 31:00Caleb Hammer?

  Yeah, so you got like a.

• 31:02Speaker 01

  And then I immediately put a hundred from my debit card onto the credit card. I still get the points and.

• 31:08Caleb Hammer?

  And what else happens in that situation? Go on, keep going down, keep going down.

• 31:12Speaker 01

  Interest accruing.

• 31:13Caleb Hammer?

  So shut the up cuz interest is accruing at an interest rate of thirty one point seven four percent. So that hundred dollars that's going towards it should just be going towards it and not just paying off a new purchase. It should be going towards it net, net, okay, man? So that it goes down so that you have the chance to not accrue interest. You are literally just leaving it stagnant in that example, which means you are, you are not getting points that are worth thirty one point seven four percent of your purchase. You're not. And that two thousand six hundred eight dollars stays there. Now that interest accrues completely obliterating any kind of parking you've ever made. Also, it doesn't matter under what you're talking about airline miles. You're getting DoorDash for Taco Bell. You're not gonna bottom after Taco Bell.

• 31:58Caleb Hammer?

  DoorDash, Free Bird, and then you're Ubering and then Audible. Go to the library. You live in Austin. It's a great library system. And we pay enough taxes for it, trust me.

• 32:09Speaker 01

  I do love the library here, but I like to listen to Audible when I run in the morning.

• 32:12Caleb Hammer?

  There's audiobooks on the Austin library website that you can, yeah, oh, oh, interesting. Literally, I could just like figure it out by going and looking.

• 32:22Speaker 01

  I could have.

• 32:23Caleb Hammer?

  Cuz you're uh, someone who knows how to use the internet, you build websites, you're thirty three years old.

• 32:30Speaker 01

  I could, but I like Audible.

• 32:31Caleb Hammer?

  Great, brand loyalty, fantastic.

• 32:36Speaker 01

  I like getting my little credit every month.

• 32:39Caleb Hammer?

  Yeah, it's like the, any gamification that has ever been implemented through a product manager in any kind of system.

• 32:47Caleb Hammer?

  Was fully geared towards you because you feel like you're accomplishing something. You're not. You're making them money and you're putting your life on hold and your goals further and further out. Moving to Thailand, it's gonna be a lot cheaper, but you don't have enough money to save that's even to get a flight to Thailand. So I don't know what you're talking about. You're not gonna be able to move to Thailand. You're Thailand. Also, you said you have to get to your 250 users a month in order to move there. You're not even the two.

• 33:13Speaker 01

  I mean, I'm at 25.

• 33:15Caleb Hammer?

  You're at 25?

• 33:15Speaker 01

  Yeah, I'm at 25.

• 33:16Caleb Hammer?

  You have 25 paying the $39 a month? Okay. How long has the 25 been with you?

• 33:22Speaker 01

  Uh, about a year and a half.

• 33:25Caleb Hammer?

  Year and a half. What's how, what's the average, uh, uh, length per subscription for each?

• 33:30Speaker 01

  None of them have canceled.

• 33:32Caleb Hammer?

  None have canceled. Okay. What are your relationships with them in general?

• 33:35Speaker 01

  They're people I've networked with throughout the years in the beauty industry.

• 33:41Caleb Hammer?

  So they're a little more sticky because they're people you've worked with for a very long time. But as you go through these cold traffic situations and people give you their trust for business, they're not gonna be as sticky because it's cold traffic. Uh, especially if like people subscribe to your Google Ads, they didn't, but the cold DMing that you're doing, which by the way, it's gonna be an endless amount. That's gonna be a three full-time jobs to try to get the number you're trying to get to. It took you that long just to build 25 and they're already sticky through your past. You haven't had a deal with like a real clientele, like a average real customer. You've had your sticky base, which is great. It's a great foundation to start with, but you haven't learned the reality

• 34:19Caleb Hammer?

  of what it takes bringing in a new customer that is putting their trust in you for the first time that doesn't know you.

• 34:26Speaker 01

  That's true. I'm gonna learn this year.

• 34:29Caleb Hammer?

  Yeah, but when would you be able to move to Thailand in that instance?

• 34:32Speaker 01

  I'm hoping I can move by September when my lease is up.

• 34:37Caleb Hammer?

  Indiana Crimson sitting across the table from me just destroying his life. The $106 minimum monthly payment. Alright, my guy. One main financial, this must be the personal loan.

• 34:50Speaker 01

  It is.

• 34:53Speaker 01

  So I took out the personal loan to pay for a barbering mentorship that I wanted to take.

• 34:59Caleb Hammer?

  Mentorship? The is a barbering mentorship? You already making money? What the are you talking about? Please.

• 35:07Speaker 01

  So I do mostly women's hair, so I've been wanting to dabble in men's hair as well. And so I wanted to join a mentorship since I don't have the time to go to barbering school.

• 35:19Caleb Hammer?

  I'm sure you've dabbled in a lot of men's hair.

• 35:22Speaker 01

  Uh, yeah, I have actually.

• 35:25Speaker 01

  But.

• 35:28Caleb Hammer?

  Such a stupid show. Okay, sorry.

• 35:32Speaker 01

  So I signed up for the mentor or I was gonna sign up for the mentorship and then I started to kind of loosely think about my finances a little more and I decided instead of fi- using those finances for the mentorship, I would get my emergency fund going.

• 35:54Caleb Hammer?

  So what happened?

• 35:55Speaker 01

  So I took the loan out to fund my emergency fund.

• 36:00Caleb Hammer?

  Where's this emergency fund today? I saw about a thousand hours in savings, which by the way dropped from two thousand five hundred.

• 36:05Speaker 01

  Uh, I spent some of it.

• 36:08Caleb Hammer?

  On what emergency?

• 36:10Speaker 01

  Uh, learning how to do hair extensions.

• 36:14Caleb Hammer?

  That's an emergency?

• 36:17Speaker 01

  I wouldn't say it's the emergency.

• 36:19Caleb Hammer?

  What do you think an emergency fund is for?

• 36:21Speaker 01

  Out of the emergency fund to buy a class for extensions.

• 36:24Caleb Hammer?

  A class? Are you a class taker on just everything?

• 36:27Speaker 01

  I am a class taker. That's how I get good at what I do.

• 36:30Caleb Hammer?

  Take course careers and accounting class, please, because that's what you actually need to learn. Because you need to learn how to manage this damn business and also take our budgeting class, our investing class as well, because you're all up in crypto, um, which is nothing wrong with that specifically, but you're a hundred percent in. That's a little rough. Um,

• 36:52Caleb Hammer?

  take our debt class as well, so you just know how to better manage your debt and utilize debt in the future. Again, once you're in a better position, they all get the bundle for fifteen percent off, but you, you get it for free. So go through that and then go through the course careers one as well. It's worth it.

• 37:07Speaker 01

  Will do.

• 37:08Caleb Hammer?

  Your emergency fund, it was probably sitting in there at best five percent.

• 37:13Speaker 01

  Four percent.

• 37:16Caleb Hammer?

  The interest rate on this is twenty eight point six four percent.

• 37:19Speaker 01

  Yes.

• 37:22Speaker 01

  Okay, so originally it wasn't for the emergency fund. I just thought that that would be a good idea.

• 37:28Caleb Hammer?

  What, 28.64%?

• 37:31Speaker 01

  Just to have an emergency fund going.

• 37:32Caleb Hammer?

  Oh, it is great.

• 37:33Speaker 01

  I didn't like not.

• 37:34Caleb Hammer?

  At 20, at 30%?

• 37:37Speaker 01

  Yeah, that's not great, but I just, I didn't, I didn't want to not have an emergency fund.

• 37:43Caleb Hammer?

  I didn't want you to not have an emergency fund either, but this is debt that you are owing and you are losing more money on it than is sitting in there. If you took out a debt at 1% and it was making 5%, you could pay your minimum payment through the money that you took out and you could still make some more on top of it. In this case, you would literally be losing money on a monthly basis in order to pay this off. That's not an emergency fund. It's just an IOU at a loss. That doesn't make sense. And I need you to know that because you'll do it a fucking again.

• 38:14Speaker 01

  But it just feels good to have that money in there in case something happens.

• 38:22Caleb Hammer?

  I want to give you free money right now. I partnered with different resources that will literally give you hundreds of dollars the moment you sign up for them. Check out my investing app of choice, Mu Mu, where they give you up to 15 free stocks and 8.1% interest on your uninvested cash when you sign up with my link. Do you want a more traditional savings account? Check out where I keep my emergency fund, SoFi, where they'll give you 4.5% on your money and up to $300. Would you rather have automated investing? Sign up for Acorns with my link and you'll get $20 right now instead of the usual $5 you'd get from your friend's referral. You can also sign up for our investing program and get $100 in cash deposited into your Mu Mu account. This is the best way to learn what your investing profile looks like and what investing strategies to use based on that.

• 39:07Caleb Hammer?

  All of this free money is linked in the resources section of the description below, so don't pass up the free money because I'll punch you. Everyone asks, where is Carmen San Diego? I'll tell you. He's up his own ass.

• 39:27Speaker 01

  Well, hopefully they're having fun up there.

• 39:29Caleb Hammer?

  Love that cartoon. I just don't get it, buddy. You just don't understand money. You kind of like, well, accept what I'm saying?

• 39:40Caleb Hammer?

  But you don't seem to acknowledge that that is the path that you should go down. Like you're like, yeah, the money that I, the money move that I did here doesn't make sense. But also I don't give a. So how are you? Yeah, but that look where that vibe is led you bankruptcy 2020. And then headed towards it again, not being able to move to Thailand, not getting your business to a successful place, not being able to buy a house.

• 40:11Caleb Hammer?

  If that is not working for probably at least a decade now, why do we continue it? Why do we continue something that is not working? It is not benefiting you. The only thing you have to show for it is clothes, but that's it. I think you want more than that in this world.

• 40:26Speaker 01

  I do want more than that. Yeah.

• 40:29Caleb Hammer?

  Then why not change what is not working? My guy.

• 40:33Speaker 01

  We're working on it.

• 40:34Caleb Hammer?

  No, you're not. You're literally not. What the, I'm not a magic pill. I like to give you a wake up call, get you connected to resources, build you a budget. Absolutely. I mean, that's where most Americans are. The basics are important. But it's not a magic pill. It's you actually putting in the effort, but through your language here, through your mindset, I don't see any effort that is potentially going to be put in.

• 40:59Speaker 01

  Like I said, I like to do the things first and then worry about them later.

• 41:05Caleb Hammer?

  And how has that worked?

• 41:06Speaker 01

  Very spontaneous. I'm very.

• 41:10Caleb Hammer?

  Give yourself a spontaneous fund, dude. I can give you a big fun money fund. You make a lot of money.

• 41:19Speaker 01

  I like, I make rash decisions for sure.

• 41:23Caleb Hammer?

  I don't think you understand what I'm trying to get to.

• 41:27Caleb Hammer?

  That is not working.

• 41:30Caleb Hammer?

  It has not worked. So maybe we no longer make rash decisions. Does that not make sense?

• 41:37Speaker 01

  It makes sense and I'm

• 41:39Caleb Hammer?

  Then will you?

• 41:40Speaker 01

  I'm willing to try, yes.

• 41:42Caleb Hammer?

  To try, try, try for who?

• 41:45Speaker 01

  For you.

• 41:46Caleb Hammer?

  It's not for me, me, it doesn't matter. I don't matter in this situation, dude. None of this is about me. None of this is about me. This is your financial situation. If you're doing it for me, you're gonna fall off in a month and a half. If you do it for you, you end up like the average guest.

• 42:01Speaker 01

  I'll do it for me and for Thailand.

• 42:03Caleb Hammer?

  For Thailand. So what is it gonna cost to get to Thailand? After we've built to 250 paid subscribers?

• 42:08Speaker 01

  It would cost about 15K for the Digital Nomad Visa, which is a five-year visa. And it would cost a plane ticket, which is probably like a thousand. It would cost

• 42:23Caleb Hammer?

  We don't even have that.

• 42:24Speaker 01

  But the good thing about Thailand is I could live off of $1,500 a month there and really get ahead. That's kind of like my whole plan is to

• 42:32Caleb Hammer?

  Get ahead, let's get ahead. What do you think?

• 42:34Speaker 01

  Get my Get my savings up to what a 33-year-old should be at, at this point.

• 42:39Caleb Hammer?

  Well, how? You're already, it's gonna be less there.

• 42:41Speaker 01

  I can't do that in America unless I'm making like 150K.

• 42:44Caleb Hammer?

  That's not true. That's objectively not true. People who budget, people who sacrifice, people who actually act like fucking adults and act like they have responsibilities and make a plan, they get there. People can do it on $50,000 a year. People do all the time. On this show, they do. In the audience, they do. Think you need 150,000? What the? Maybe if you live in Manhattan specifically, sure. But you don't, not even close.

• 43:10Speaker 01

  I think I should preface that with saying that I don't want to work until I'm 65. I'm not trying to sit here and be slow about it.

• 43:19Caleb Hammer?

  But you're not even close to being able to get there anyway.

• 43:23Speaker 01

  I'm trying to retire by like 50.

• 43:25Caleb Hammer?

  But you're not even close to that.

• 43:26Speaker 01

  That's Thailand.

• 43:29Caleb Hammer?

  You'd have to retire in Thailand.

• 43:31Speaker 01

  I wouldn't. I mean, I could retire in Thailand.

• 43:33Caleb Hammer?

  You would have to. You're not gonna retire in America.

• 43:35Speaker 01

  Five years there, I could save a lot more money than I could here.

• 43:38Caleb Hammer?

  You wouldn't because you would spend it all. That's all you do. You could save a lot more here than you are. You're not saving anything. You could. You're not. Your actions are doing that. It's just gonna translate over there. Just like after your bankruptcy, that didn't save you from debt. You're going back into debt again. Without a behavior change, no, you're just gonna blow all your money. Also, in order to get there, again, in order to make that amount of money where you're actually saving a lot of money, you need to build and scale your business a bit more. Now, it's gonna be more difficult for communication wise overseas. So you're gonna have to do that before getting there, which means you need a budget before and actually start taking an accounting and being responsible, setting goals for your business and managing it correctly and figuring out a new sales path strategy because your only customers are the sticky ones that you've accumulated over the course of like a decade. So I don't see that plan happening. It doesn't make any sense and you're just gonna blow it all on close anyway, the money that's coming in.

• 44:25Caleb Hammer?

  No, I would just say no to everything you just said. A thousand dollars for the plane ticket. You can barely even afford that, let alone the 15,000 dollar visa. I don't, I don't know what you're talking about. You lost up your own ass, my dude.

• 44:38Speaker 01

  I plan on with my cold DM strategy to get to that 15K.

• 44:42Caleb Hammer?

  And how has that worked?

• 44:43Speaker 01

  I haven't started it yet.

• 44:46Caleb Hammer?

  Cold DMs? That's like the basic, most like, like, good luck, dude. I get cold DMs all the time. Guess what? I've never answered one cold sales DM.

• 44:57Speaker 01

  Would you answer a cold DM with a website that's already built for you?

• 45:03Caleb Hammer?

  I'd be curious. Huh. I don't know. I don't know.

• 45:09Speaker 01

  Yeah.

• 45:10Caleb Hammer?

  I'd be curious. 250 people. It's a lot.

• 45:16Caleb Hammer?

  How are you getting to that $15,000 to get the visa? Cause you're not getting there now, not even close. Your savings again went down. And we have a 30% interest loan on a personal debt of $6,938 at $225 a month.

• 45:30Speaker 01

  So I did also, I start in January, take on a side gig with a lash extension company that wants me to.

• 45:38Caleb Hammer?

  You make enough money. You're not budgeting and managing it quickly. This isn't an income problem. But go on.

• 45:47Speaker 01

  And they're going to be paying me a thousand a month. So I was planning on piling that away.

• 45:54Caleb Hammer?

  No, you wouldn't.

• 45:57Speaker 01

  And.

• 45:58Caleb Hammer?

  You don't have money coming in that you don't spend. Anytime you make more money, you spend it. And also you have to make that extra 12,000 hours a year because your 20,000 hours a year in website building is going to zero now with the clients you have like so. You essentially have to do that to somewhat make up for the 20,000 you're losing. So it's not a net gain anyway. And obviously you went into debt making more than you're going to be making starting in January. So I don't see how that progress is actually going to be made. Do you see how this math is working? See my brain is going?

• 46:29Speaker 01

  I see it, but.

• 46:31Caleb Hammer?

  So good luck. It's obviously not going to work.

• 46:36Speaker 01

  I think it'll work.

• 46:36Caleb Hammer?

  You're just assuming that 20,000 hours is still there, but it's not.

• 46:40Speaker 01

  It's not there, but with the thousand and with the influx of amazing customers that I get this year. I'm going to be there.

• 46:49Caleb Hammer?

  Guy, oh, you are just so, really are up your own ass. This is crazy.

• 47:00Caleb Hammer?

  Okay. What's your plan for this 30% debt? Personal loan. A stupid one.

• 47:08Speaker 01

  Start paying it down.

• 47:11Caleb Hammer?

  You haven't. So you're going to start saving up for the 15,000 hours and starting to pay this down?

• 47:17Caleb Hammer?

  What's going to change? Cause you haven't. Well, you made more money.

• 47:20Speaker 01

  I'll spend less money.

• 47:22Caleb Hammer?

  And how do you do that in your grand wisdom?

• 47:28Speaker 01

  Just make a goal for myself.

• 47:29Caleb Hammer?

  Oh, fuck. A goal without any actions is not a goal.

• 47:34Speaker 01

  Okay, and take action after.

• 47:35Caleb Hammer?

  And what actions will you take?

• 47:37Speaker 01

  Paying the debt down.

• 47:40Caleb Hammer?

  Paying the debt down is not spending as much money. What the fuck are you saying?

• 47:43Speaker 01

  I could use the thousand dollars that I get from this new job to pay the debt down. It'd be gone by September. Yes, I would like to save it, but maybe I'll just put it towards debt.

• 47:58Caleb Hammer?

  Oh, golly, I don't...

• 48:01Caleb Hammer?

  Oh, you just, you seem just so confident in make-believe. Which is probably why you've gotten to nowhere at thirty-three. You're not successful. You are a failure. You have good income, but you're literally on the books a failure. And I want you to know that, not in like a harsh, brutal way, but because in your brain, and probably people around you, because you do have clients, because you do make money, you probably think you're all that. You think you're the shit. You probably think you are successful. You are literally not. You are literally by definition a failure. And I need you to know that, not from a mean way, but so that you can bring yourself down to here and realize that maybe you should change your path and actually put in some work

• 48:44Caleb Hammer?

  and not continue the same thing you've been doing for a decade and a half now.

• 48:48Speaker 01

  I'll manifest it.

• 48:49Caleb Hammer?

  I'm gonna fuckin' kill you.

• 48:53Caleb Hammer?

  Hopefully you just said that just to fuck with me.

• 48:55Speaker 01

  No.

• 48:55Caleb Hammer?

  And not because you're like actually or something.

• 48:59Speaker 01

  You don't believe in manifestation?

• 49:01Caleb Hammer?

  You said, I asked you beforehand, you said you've seen this show.

• 49:04Speaker 01

  I can't remember a time that you said you don't believe in manifestation.

• 49:08Caleb Hammer?

  How does that get us anywhere? Why does just believing instead of putting in the work do anything? No, I accomplish by putting in the work now by sitting there going, "Ooh, please."

• 49:18Speaker 01

  Well, manifestation is actually the please plus action.

• 49:22Caleb Hammer?

  Uh huh, but you do none of the action, so if that's the definition of...

• 49:26Speaker 01

  Twenty-five is the time for me. To do that, to do that action.

• 49:30Caleb Hammer?

  It's such an artificial area when we decided a new year starts. That doesn't actually do anything. Move to Thailand, you need 16,000 hours minimum to do it. You're not even close to that. You have a thousand hours down from 2,500 in savings over the last month. You spent 2,000 hours more than you make on a monthly basis, meaning you're going to be negative 1,000 hours over this next month. What are you talking about? You can't move to Thailand until you're substantially higher in the reoccurring, monthly reoccurring revenue, which you're not getting to because you haven't figured out a sales strategy has worked. You're going to try a new one. I hope it works, but you haven't proven it yet. So I don't know what the you're talking about. That's not manifesting. That's being a dumb.

• 50:04Speaker 01

  It will work.

• 50:08Caleb Hammer?

  I don't know how to deal with people like you. I like I I'm I just I'm tempted to just enter in that situation because that doesn't get us anywhere. That mindset is the mindset of a child. How do you have that at 33? It will work. It hasn't worked. It has not worked. When I have a goal and I try things to get there and it doesn't work, I change what I'm doing to try to get there.

• 50:30Speaker 01

  That's what I'm gonna do.

• 50:31Caleb Hammer?

  But you're you're you're unable to define what you're going to do, though. You're unable to define it in detail.

• 50:39Speaker 01

  I'm going to start a cold DM strategy.

• 50:42Caleb Hammer?

  Yeah.

• 50:42Speaker 01

  I'm gonna put the thousand dollars towards debt.

• 50:48Caleb Hammer?

  Maybe.

• 50:48Speaker 01

  And I'm gonna spend less.

• 50:50Caleb Hammer?

  Yeah, but you haven't said how you're gonna spend less and how you're gonna manage that. How you're gonna grow up? How are you gonna change your behavior?

• 50:57Speaker 01

  I will cancel my audible membership and get a library card.

• 51:00Caleb Hammer?

  Okay, it wasn't just about the audible. That's just it's just like when I call out Spotify constantly. It's just the example of the discipline and the lack of, lack of sacrifice. The the example of just endless reoccurring expenses.

• 51:17Speaker 01

  Mm hmm.

• 51:17Caleb Hammer?

  That are you. It's not just about the audio. Okay, Cook's over. This one's a higher credit card balance than the last one. $3,469.75 with a $121 minimum monthly payment. Great. We're purchasing again while interest is accruing. So getting to that goal. Yeah, really manifesting it by fucking yourself.

• 51:43Caleb Hammer?

  This one takes 18 years to pay off. Congratulations. And that's without purchasing anything. So well done. We can get to Thailand in our 60s.

• 51:53Caleb Hammer?

  So a prime order and then prime video like a movie rental or something.

• 51:58Speaker 01

  Yeah, it was the substance. Have you seen it?

• 52:00Caleb Hammer?

  Incredible. Loved it. Margaret is my absolute wife, even though she's married, she just doesn't know it yet, but.

• 52:06Speaker 01

  Perfection. Yeah.

• 52:07Caleb Hammer?

  She is. I agree.

• 52:12Caleb Hammer?

  Total interest charge this year, over a thousand dollars.

• 52:17Caleb Hammer?

  Really getting us to Thailand quicker. It'll be handy to pay off all this debt in order to get to Thailand. But

• 52:27Caleb Hammer?

  in the path you're going, in order to survive in Thailand, you're going to be the one giving the handies.

• 52:33Caleb Hammer?

  Thirty percent interest on here.

• 52:37Speaker 01

  I don't give handies.

• 52:48Caleb Hammer?

  Volkswagen.

• 52:52Caleb Hammer?

  Okay, we're almost halfway through your payments. It looks like a three, four year loan ish VW. What is it? It's a lease. Great. So I wonder what they baked in there. Oh, what's your, what's your buyout at the end? Do you know? If you bought it out today, what would it be? Plus the nine thousand three hundred twelve still remaining?

• 53:15Speaker 01

  I think the buyout's sixteen K.

• 53:18Caleb Hammer?

  Okay, so even today then, if you calculate the sixteen K plus the nine K, you still owe on a year underwater by about seven thousand dollars. So if it depreciates at a relatively similar value of your minimum monthly payments, you know, which probably won't necessarily, but you're on track to probably be underwater regardless when you buy it. Probably because when you got this, the car market was much higher. So it was calculating that buyout value to be higher at the end. The current market value has corrected a little, hasn't gone to where it was pre pandemic, probably won't for a long time. Lease wasn't the thing to get in there, man. And then they baked in fees and bullshit in their version of interest essentially into that minimum monthly payment. It's probably something like fifteen percent.

• 54:01Speaker 01

  I think so. I did have my stepdad co-sign on it, so it's definitely lower.

• 54:08Caleb Hammer?

  Your stepdad's on this?

• 54:11Caleb Hammer?

  For fuck's sake, that is not fair to him. What are you gonna do with this, by the way, with the multiple years remaining still? And you want to go to Thailand and your dad, stepdad is very much on this still?

• 54:26Speaker 01

  Um, I loosely have thought about that. I was thinking of just buying it and then selling it immediately.

• 54:35Caleb Hammer?

  Where is this sixteen thousand dollars? No. Whatever, like twenty thousand dollars is coming from to buy it right now if you wanted to, twenty-five? Where's that coming from?

• 54:45Speaker 01

  To be honest, I didn't realize that you still had to pay, if you bought it out, that you still had to pay the rest of the payments. So that kind of is thwarting my idea here a little, but.

• 54:57Caleb Hammer?

  How'd you think you would do the nine thousand anyway? You can't do a one thousand dollar flight.

• 55:05Caleb Hammer?

  Oh my, your vision, how you think you're gonna get there is so incorrect and so just

• 55:16Caleb Hammer?

  it's so misguided and it's just gonna lead you to a place of never accomplishing anything and you're gonna be a failure at sixty-three like you are at thirty-three. And that sucks. And I don't want you to be there and I need you to correct this mindset. I need you to correct this mindset.

• 55:30Speaker 01

  I will.

• 55:32Caleb Hammer?

  I don't know, man.

• 55:34Speaker 01

  What if, what if I

• 55:38Speaker 01

  take a loan to buy the car and then immediately sell it and pay the loan off?

• 55:42Caleb Hammer?

  How are you paying the loan off? You're not already paying the lease off. The fuck are you talking to me? I have to get a twenty-five thousand dollar loan to pay off this nine thousand dollars and then get the car. You don't know what you're talking about. No money. You spent two thousand dollars more than you make on a monthly basis. You're not gonna pay off this loan. Shut the fuck up. No, that's the dumbest thing I've ever heard. Okay, sorry. No.

• 55:58Speaker 01

  No.

• 55:59Caleb Hammer?

  No! So as many of you know, I've been a big supporter of Course Careers for a long time. I'm not just a partner. I actually own stock and I'm an investor. So why did I partner with Course Careers? Because I truly believe in what they're doing. A lot of people have questions about online certifications versus traditional college degrees. Let me be clear. I wouldn't put my name behind something. Unless I knew it worked. The thing is, not everyone has the time or resources to spend four years in college or take on massive student loan debt. Course Careers offers a practical, affordable way to launch a career in a high-demand field like tech sales, IT, and accounting, where companies are hiring based on the skills needed, not broad college degrees. In fact, right now, one in three companies are dropping degree requirements,

• 56:44Caleb Hammer?

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

• 57:29Caleb Hammer?

  from learning the skills to interviewing, resume help, and beyond. So if you're serious about starting a new career without wasting years or piling up debt, give Course Careers a try. Start with their free intro course, linked in the description to explore your options. And when you're ready, use the link in the description for $50 off the full course. Your future starts right now, and Course Careers is here to help you shape it.

• 57:50Speaker 01

  Okay, but what, I mean,

• 57:54Speaker 01

  after I buy it, I sell it, take that money to pay it off?

• 57:58Caleb Hammer?

  No, because, again, if you get it right now, it's gonna be $25,000, it's worth 18. You'd be underwater.

• 58:06Speaker 01

  Okay, yeah.

• 58:08Caleb Hammer?

  Okay.

• 58:08Speaker 01

  So the plan that I had originally is not sounding as great now in my head.

• 58:14Caleb Hammer?

  No plan, no plan you've had sounds great. I've been able to put a hole in every plan so far.

• 58:25Speaker 01

  Yeah. And now I have a lot of thinking to do.

• 58:29Caleb Hammer?

  Oh, if that's.

• 58:30Speaker 01

  Maybe I have to push out Thailand. A little bit.

• 58:33Caleb Hammer?

  If that's what we get from this conversation, that's actually at least something good. You know, if you're actually thinking, if you're actually thinking after this and you're able to reflect on this, I will accept that a little bit, a little bit more.

• 58:45Caleb Hammer?

  So student loans, yeah, 53. Again, it was my least concern because the interest rates probably aren't. There's a couple over.

• 58:52Caleb Hammer?

  There's a couple over 5%, but there's actually quite a few, about 7%. These are not good federal student loans. Uh, 55, uh, 53,048. Um, what did you do? What, what was school?

• 59:08Speaker 01

  Uh, IT management, business IT management.

• 59:11Caleb Hammer?

  Gosh, you could be making even more money and you're already making great money. Um, okay.

• 59:17Caleb Hammer?

  Four years?

• 59:19Speaker 01

  Yeah.

• 59:19Caleb Hammer?

  Where?

• 59:20Speaker 01

  WGU, it's an online school.

• 59:22Caleb Hammer?

  I thought that was cheap. I thought WGU was cheap. How do we have $53,000 in student loans?

• 59:28Speaker 01

  It's cheaper, but it's not like.

• 59:30Caleb Hammer?

  Yeah, but you could do four years and not do 53.

• 59:33Speaker 01

  Yeah.

• 59:35Caleb Hammer?

  Were you using student loans for other things like living expenses?

• 59:39Speaker 01

  Um, I did get like a refund from each of them.

• 59:44Caleb Hammer?

  And you use that extra that refund?

• 59:46Speaker 01

  I did, I did.

• 59:49Caleb Hammer?

  You should have just put it right back. It's not a refund like free money. It's still money you owe. And now it's a 7% stupidity death.

• 59:57Caleb Hammer?

  Let me give you an example. There's a Coinbase account in here, right? I think. So if I use my brokerage, which is Mu Mu, if I put all the money in there.

• 1:00:08Caleb Hammer?

  What? You're smirking like a little, what?

• 1:00:10Speaker 01

  Oh, I'm just listening.

• 1:00:12Caleb Hammer?

  Okay. If I put my money in there, I invested in the S and P 500, it's getting eight to 10%. Let's just do 8% like the market history over the course of the entire history of the stock market. Let's say that, yeah? Wonderful. That's only 1%. That's only 1% made versus what you are losing on these student loans. Almost essentially not worth it because the risk over your head of the student loan, something not forgivable with bankruptcy, if you have learned is.

• 1:00:42Caleb Hammer?

  To hold that over your head. So there is no point of using that money for living expenses because you're not beating it in the market. You signed up for the student loan debt after your bankruptcy?

• 1:00:52Speaker 01

  I did.

• 1:00:55Caleb Hammer?

  So you just went to school? So you went to school in your late twenties?

• 1:00:59Speaker 01

  Yes.

• 1:01:01Caleb Hammer?

  But why aren't you using this degree?

• 1:01:04Speaker 01

  I'm not fin- I finished in April, so I-

• 1:01:06Caleb Hammer?

  Oh, you're still going?

• 1:01:09Speaker 01

  I'm still going. I'm not paying-

• 1:01:10Caleb Hammer?

  Why? I asked you how long the degree. You should have told me you're still doing it.

• 1:01:14Speaker 01

  I'm almost done. It was a four-year degree. I took a little breaky and here we are.

• 1:01:19Caleb Hammer?

  And nowhere in your plan has IT been in the plan.

• 1:01:22Speaker 01

  It's not in the plan.

• 1:01:24Caleb Hammer?

  What are you doing? Why are you spending this money then?

• 1:01:27Speaker 01

  Okay.

• 1:01:27Caleb Hammer?

  Why are you okay with just getting more debt?

• 1:01:31Speaker 01

  So the original plan, when I, okay, so my, I had to shut down. I had a studio in Vegas where I did hair. I had my own studio.

• 1:01:40Caleb Hammer?

  Okay.

• 1:01:40Speaker 01

  And we had to shut down for two and a half months. And so during that-

• 1:01:44Caleb Hammer?

  Why?

• 1:01:45Speaker 01

  Because of the pandemic.

• 1:01:46Caleb Hammer?

  Okay.

• 1:01:47Speaker 01

  And so during that time, I needed some sort of backup plan and kind of my thinking was, ooh, I could, I could have a bachelor degree and go to coding bootcamp and become a coder. If like the hair thing doesn't work out.

• 1:02:03Caleb Hammer?

  Yes, but after a couple of semesters, when the hair thing was working out, why'd you continue?

• 1:02:09Speaker 01

  I wanted to finish it.

• 1:02:11Caleb Hammer?

  You're finishing. It's fifty-three thousand dollars you owe now. I don't give a shit about a piece of paper that you're never gonna use.

• 1:02:16Speaker 01

  I didn't want to owe and not have anything for it.

• 1:02:19Caleb Hammer?

  Yeah, but you would have owed maybe five to 10 instead of fifty-three. And you're still not gonna use it.

• 1:02:27Caleb Hammer?

  That's the dumbest- your plans, you said you sat and thought about it. You sit and think a lot, but you lead to the dumbest conclusions ever, every time. Maybe you shouldn't think.

• 1:02:38Speaker 01

  Maybe not, but at the time it felt good.

• 1:02:40Caleb Hammer?

  No, no, no. You just need to like, and talk to professionals before you make these big decisions. Or surround yourself with smarter people.

• 1:02:47Speaker 01

  I'm a spontaneous person. I make really quick decisions and then think about it later.

• 1:02:53Caleb Hammer?

  But even you're thinking about it later isn't getting you anywhere. So you graduated in April? What's the grace period after, before payments start?

• 1:03:02Speaker 01

  My payments will start in November.

• 1:03:04Caleb Hammer?

  And it's probably gonna be about seven hundred bucks a month?

• 1:03:14Caleb Hammer?

  It's gonna, it's horrible. Ah, this is, okay.

• 1:03:22Caleb Hammer?

  Huh. Seven percent. Death stupidity. So yeah, savings went down from 2,270 to a thousand.

• 1:03:31Speaker 01

  Mm hmm.

• 1:03:32Caleb Hammer?

  Why? Where'd it go? Well, we spent 2,000 hours more than we made on a monthly basis so that we could fuel 750 hours or wherever it is in fast food spending. Well done. Go ahead.

• 1:03:43Speaker 01

  I'm not exactly sure where that savings went.

• 1:03:45Caleb Hammer?

  Where do you think it went? You intentionally took it out.

• 1:03:50Caleb Hammer?

  So try to think, I know you like to.

• 1:03:55Speaker 01

  Clothes, maybe?

• 1:03:56Caleb Hammer?

  That? How much did this whole outfit cost?

• 1:04:01Speaker 01

  Probably like 1,500.

• 1:04:03Caleb Hammer?

  Yeah.

• 1:04:05Caleb Hammer?

  Dude, I just like restocked my winter, winter, winter wear for the first time in literally five years. I have not bought a single thing in five years for winter wear. Just doesn't get cold down here very often. Um, and I used my friend's discount at Express and I spent 1,500 total to get like, I could wear a new outfit for three weeks. That was 1,500 and one outfit's 1,500 is the fucking thing. And you have debt and you're not hitting your goals. I'm gonna, you're just, well, I can't comprehend your brain.

• 1:04:36Speaker 01

  So this outfit was from my old spending.

• 1:04:44Speaker 01

  So this isn't a recent outfit.

• 1:04:46Caleb Hammer?

  It's still the dumbest thing ever. I don't care when it was, you still spent it.

• 1:04:51Speaker 01

  I did.

• 1:04:52Caleb Hammer?

  Okay.

• 1:04:54Caleb Hammer?

  Went over a thousand in your checking account. He went in, got some bull Amazon, DoorDash and Whataburger, Amazon.

• 1:05:05Caleb Hammer?

  Who's are you paying to look at? Only.

• 1:05:09Speaker 01

  Do you want to know the name?

• 1:05:11Caleb Hammer?

  Ah. I guess not. Why are we subscribing to that though?

• 1:05:15Speaker 01

  I like him.

• 1:05:19Caleb Hammer?

  Just get you a little grinder and go have fun. Why are we paying?

• 1:05:23Speaker 01

  You think I don't do that already? Sometimes I want to be alone.

• 1:05:26Caleb Hammer?

  Listen, listen, I, I get a fap sesh. I get it. We all have them. We're dudes. It happens. I don't pay for mine. Why are you paying, guy? It's so dumb. And also there are sites where you can see what's behind the paywall for free.

• 1:05:41Speaker 01

  Oh, really?

• 1:05:42Caleb Hammer?

  Yes.

• 1:05:45Caleb Hammer?

  I'm not naming any sites.

• 1:05:46Speaker 01

  You can tell me later.

• 1:05:47Caleb Hammer?

  No, because I feel like I'm gonna feel some like addiction or something from you. You're already paying for it, but why? Dude, we have debt. We're not hitting goals, but we're paying eight dollars to see an anus.

• 1:05:56Speaker 01

  It's only eight dollars.

• 1:05:58Caleb Hammer?

  It isn't a good one?

• 1:06:00Speaker 01

  Yeah.

• 1:06:02Caleb Hammer?

  How different can an anus be from anus to anus?

• 1:06:05Speaker 01

  It's not just anuses.

• 1:06:06Caleb Hammer?

  DoorDash and Pete Terry's. I swear if there's any more OF on here, I'm gonna die. I'd better not.

• 1:06:12Speaker 01

  I only have one.

• 1:06:13Caleb Hammer?

  Think, how often do you do that?

• 1:06:15Speaker 01

  Like pay for it?

• 1:06:16Caleb Hammer?

  Yes.

• 1:06:17Speaker 01

  It's monthly.

• 1:06:18Caleb Hammer?

  Oh, you subscribe to him consistently?

• 1:06:19Speaker 01

  Yeah.

• 1:06:20Caleb Hammer?

  Oh, my gosh. You actually, I wondered how they all made money. That makes sense. That makes sense. People like you. Professional gooner. Look at you. Schatzkies, Apple Bill, Amazon, McDonald's, Lime Pass. You take the pass for the scooters? Jeez. McDonald's, more Lime Pass? For fuck's sake. City Cashless, City Cashless, City Cashless, City Cashless. What's all that? It's like a million dollars.

• 1:06:48Speaker 01

  I think the, that was during ACL time-ish. Wait.

• 1:06:52Caleb Hammer?

  Yeah, it lines up.

• 1:06:53Speaker 01

  Okay.

• 1:06:54Caleb Hammer?

  What is it?

• 1:06:55Speaker 01

  So like the Lime Pass?

• 1:06:57Caleb Hammer?

  No, City Cashless.

• 1:06:58Speaker 01

  I think that's probably an ACL. I don't, oh.

• 1:07:00Caleb Hammer?

  Oh, yes. It's tapping your little wristband. So you're just getting drinks and endless, you can't even afford to live? Mind you, this is likely what you took a thousand five hundred dollars out of your emergency fund, which is owed at thirty percent in debt.

• 1:07:14Speaker 01

  I'd say.

• 1:07:14Caleb Hammer?

  For a music festival. Well done. Did you see my lesbian wife, Chaperone, though?

• 1:07:21Speaker 01

  Yeah, she was amazing.

• 1:07:22Caleb Hammer?

  I got COVID for her. It was worth it. It was worth it. I love her. Google Apps, Kami. That makes sense.

• 1:07:34Caleb Hammer?

  Taco Bell, McDonald's, connoisseur, smoke, professional, like fancy lung cancer?

• 1:07:43Speaker 01

  Oh, I don't, I don't smoke cigarettes. I don't even, yes.

• 1:07:49Caleb Hammer?

  What did you think it is? You could have told me. Like, why did I have to go down?

• 1:07:53Speaker 01

  That that was like.

• 1:07:54Caleb Hammer?

  Why did I have to go down a rabbit hole to find out? You know what you smoke?

• 1:07:58Speaker 01

  Mm hmm.

• 1:07:59Caleb Hammer?

  Food, food, food, food, food, food, all the music festival, or drinks or bev's and McDonald's and Uber trip and Uber tripped and Spotify. There it is. I told you it was gonna pop up. Twin Liquors, getting drunk and twisted cork wine, getting more drunk, DoorDash and McDonald's, DoorDash and McDonald's, Starbucks, Uber trip, Uber trip. Canva, I can see Canva for your business, uh, but, uh, Chat GPT made me for your business. I don't know if you need that. I think you can figure out things. DoorDash, you DoorDash for sprout and you DoorDash like crazy. There's a $50 DoorDash, Venmoing out $100. Creature, DoorDash gift card? $50 DoorDash gift card? You getting a gift card from DoorDash? Kind of gift card are you getting from DoorDash?

• 1:08:42Speaker 01

  I got a gift card because my friend watched my cats, so I bought him a gift card.

• 1:08:47Caleb Hammer?

  Barnes and Noble, buddy, library, McDonald's, Venmoing out $25, Venmoing out $17. Ducks, snah?

• 1:08:58Speaker 01

  I have no idea what that is.

• 1:08:59Caleb Hammer?

  Oh, $26.75 rented something on Peacock, I think. Uber trip, DoorDash pass, so we got the subscription. Southwest in-flight, what the, you told me, you told me you purchased, last flight was a year ago.

• 1:09:14Speaker 01

  Well, that was when I used my points.

• 1:09:16Caleb Hammer?

  A year ago, you mean?

• 1:09:18Speaker 01

  Yeah.

• 1:09:18Caleb Hammer?

  Or where'd you go this time? Because you got hotels too.

• 1:09:22Speaker 01

  It was for the lash extension convention that I go to.

• 1:09:27Caleb Hammer?

  Lash extension convention? We just walk around and see who has the longest fake lashes and looks the fakest?

• 1:09:34Speaker 01

  It's, I used to do lashes, so I go to this convention every year.

• 1:09:38Caleb Hammer?

  Convention?

• 1:09:39Speaker 01

  And now they hire me to work at the convention.

• 1:09:41Caleb Hammer?

  Oh, I'm sure it's the grinder hotspot in the country.

• 1:09:44Speaker 01

  It's actually, there's probably only like three gays there, so it's actually kind of mostly women. You'd love it.

• 1:09:51Caleb Hammer?

  But I don't like the fake ones, you know?

• 1:09:54Speaker 01

  There's not all fake ones.

• 1:09:55Caleb Hammer?

  Their lashes are probably just like weapons. Hit you across the table.

• 1:09:59Speaker 01

  Some of them.

• 1:09:59Caleb Hammer?

  Blink. Foski's Apple, DoorDash and Asian Playbook Technologies. What's that?

• 1:10:08Speaker 01

  It's a workout app.

• 1:10:10Caleb Hammer?

  You need an app to workout?

• 1:10:12Speaker 01

  Well, it gives you like all the, a workout plan.

• 1:10:14Caleb Hammer?

  I'm a fat.

• 1:10:15Speaker 01

  And then it shows you how to do the workout.

• 1:10:17Caleb Hammer?

  I get it. You worked out so you could go get McDonald's and then you Venmo'd out forty seven dollars. Buddy boss that come three hundred bucks?

• 1:10:25Speaker 01

  That's a, um, a plugin for WordPress website stuff.

• 1:10:30Caleb Hammer?

  So that's more business. We need to figure out, is that annual or monthly?

• 1:10:33Speaker 01

  Annual.

• 1:10:35Caleb Hammer?

  Uh, Shopify, Amazon, Netflix.

• 1:10:42Caleb Hammer?

  McDonald's. This is endless dude. DoorDash, Pitaris. You eat horribly, by the way. You eat worse than I do. But you work out. Amazon, DoorDash. Something, uh, Quay USA. Amazon, ATM withdraw, a hundred twenty bucks. Who knows where the that went? Went to a restaurant, DoorDash and Free Birds, Whataburger, Venmoing out five bucks. Stars Entertainment. Someone pays for Stars Entertainment? I didn't know the company existed today.

• 1:11:11Speaker 01

  I paid for it for like a month or two.

• 1:11:14Caleb Hammer?

  DoorDash, Pitaris, DoorDash, Fat Weird, something.

• 1:11:20Caleb Hammer?

  The fuck is weird?

• 1:11:22Speaker 01

  I think they're.

• 1:11:22Caleb Hammer?

  DoorDash, a bear to your house. What?

• 1:11:25Speaker 01

  Fat weird cookies.

• 1:11:27Caleb Hammer?

  Amazon. Pitaris, DoorDash and Free Birds, DoorDash and Free Birds.

• 1:11:34Caleb Hammer?

  Seven eleven, DoorDash and Whataburger, Blondes Chronicles. I'm gonna kill you dude. This is crazy. Your behavior is out of control. Went through a bankruptcy and didn't change anything. It's a joke. What a joke. Fandango? What was Fandango for?

• 1:11:49Speaker 01

  A movie.

• 1:11:50Caleb Hammer?

  Oh, that's right. What did I associated that with a concert ticket? I don't know why. McDonald's, DoorDash and Free Birds, Dreamers? Can you just go in and pick up food? My, I know you have a car.

• 1:12:00Speaker 01

  I'm lazy.

• 1:12:02Caleb Hammer?

  No shit. And that's not getting you anywhere other than another bankruptcy and never accomplishing your goals. Congratulations. Dreamers, Amazon, DoorDash and Whataburger, DoorDash and something. And other Apple bill. What kind of subscriptions do you have, man? All right. Pull up your Apple subscriptions for me. Let's take a look.

• 1:12:22Caleb Hammer?

  Oh, Dreamers is a [bleep] app. So not just paying to look at other people's, but you're getting your, what did you get? What little equipment did we get? Or weapons did we acquire? I feel uncomfortable to admit this, but we have poppers in the office.

• 1:12:36Speaker 01

  Oh. What's that for?

• 1:12:40Caleb Hammer?

  It was the white, uh, it was the secret Santa for our member stream and our, uh, for Hammer Elite members and Hammer VIP members. Join our membership, support the channel and you get to witness insane [bleep] like that.

• 1:12:53Speaker 01

  Was not expecting.

• 1:12:53Caleb Hammer?

  Who got Cameron poppers?

• 1:12:57Caleb Hammer?

  Our newest employee, but the guy who runs our membership poppers. Brave of her.

• 1:13:04Speaker 01

  That's hilarious.

• 1:13:04Caleb Hammer?

  It was very smart. Everyone was [bleep] with each other.

• 1:13:10Caleb Hammer?

  Uh, okay. In e-sign, Apple care plus. Oh, and there it is. There's grinder.

• 1:13:14Speaker 01

  It's expiring.

• 1:13:15Caleb Hammer?

  Yeah, but you'll renew. They always do. Gave up Bumble. You just went for the hookup version instead.

• 1:13:24Speaker 01

  Yeah, it's quicker.

• 1:13:25Caleb Hammer?

  It is, but you're not going to get anything sustainable from there. Do you want a partner?

• 1:13:29Speaker 01

  Yeah.

• 1:13:30Caleb Hammer?

  Okay. I don't know if grinder is the way to go.

• 1:13:33Speaker 01

  You never know. I've gotten all my partners off of grinder.

• 1:13:36Caleb Hammer?

  Really? So the, well, also hasn't been successful.

• 1:13:42Speaker 01

  One of them lasted six years.

• 1:13:43Caleb Hammer?

  It's good. Didn't last seven.

• 1:13:46Speaker 01

  It did not.

• 1:13:50Caleb Hammer?

  Yeah. Savings joke.

• 1:13:54Caleb Hammer?

  Coinbase. Okay. So what do we got going on?

• 1:13:58Caleb Hammer?

  Ton of crypto, but how much in crypto?

• 1:14:02Speaker 01

  Like cash or?

• 1:14:06Speaker 01

  It changes a lot, obviously.

• 1:14:08Caleb Hammer?

  What's your crypto account worth today?

• 1:14:10Speaker 01

  I think it's sitting at 12K.

• 1:14:12Caleb Hammer?

  What in crypto? Pull that and pay off your [bleep] debt. Are you stupid? No, no, seriously. No, I'm not even kidding. Sell it today and pay off your 30% debt. Dude, I'm not even like against crypto or anything. I think you can incorporate it in a small percentage in a balanced portfolio, but still you have multiple 30% debts.

• 1:14:31Speaker 01

  Okay, so it was sixteen thousand last week, so I'm I would love to take it out and pay everything off, but I've been holding on to this for so long, like I need to wait until the end of next year when everything's gonna pump. Like, it could be worth hundreds of thousands.

• 1:14:47Caleb Hammer?

  I'm gonna kill you. I'm gonna kill you. It could be. It always could be. It always could be. The country could collapse.

• 1:14:52Speaker 01

  There is a pattern. There is a pattern.

• 1:14:55Caleb Hammer?

  Pattern of what? In general, Bitcoin these days, when the market goes up, Bitcoin kind of goes up these days. It's kind of what you're seeing in general.

• 1:15:02Speaker 01

  Well, if you look at it every four years, there's a huge pump, like when Bitcoin went.

• 1:15:07Caleb Hammer?

  You wouldn't say we just had that post-election?

• 1:15:09Speaker 01

  No, it's that was.

• 1:15:10Caleb Hammer?

  It was huge, though.

• 1:15:10Speaker 01

  Tiny. It's gonna go. It's gonna be four or five times that by the end of next year, so.

• 1:15:17Caleb Hammer?

  Where's your confidence in this, other than your manifest bull?

• 1:15:20Speaker 01

  If you research crypto.

• 1:15:21Caleb Hammer?

  It was a huge pump. What are you talking about? I went from fifty-eight to ninety-six.

• 1:15:26Speaker 01

  It did pump, but that's.

• 1:15:27Caleb Hammer?

  That's the third largest pump Bitcoin has ever had. Oh, but it's not that big. What are you talking about? It's the third largest in terms of percentage increase. Other was twenty-twenty, and then the other would be twenty-twenty-three into twenty-twenty-four. So what? And you're insisting it's gonna go again? So there's been three major pumps, and it looks like it happens once every half a decade.

• 1:15:53Speaker 01

  Yeah, every four years, there's a huge bull run.

• 1:15:56Caleb Hammer?

  Had one.

• 1:15:57Speaker 01

  No, the last one was twenty-one and twenty-two, so the next one is twenty-five and twenty-six.

• 1:16:02Caleb Hammer?

  Again, from June twenty-twenty-three to February twenty-twenty-four, that was the last big pump. And then we went from July thirty-first to October of this year was another huge pump. The same percentage increased just about, or same number added just about. And then the last one before that was from September twenty-twenty to February twenty-twenty-one.

• 1:16:30Caleb Hammer?

  You're incorrect.

• 1:16:32Speaker 01

  I don't think so. I'm pretty solid on this.

• 1:16:38Speaker 01

  I think by the end of next year, it's gonna be insane.

• 1:16:41Caleb Hammer?

  Then I'm done because you're done. And it's as easy as that.

• 1:16:46Caleb Hammer?

  Congratulations, your life's a failure and it'll continue being a failure because of that. And that's not where I wanted the conversation to end, but I can't have a conversation with that. That is just, if I can't get you to pay off 30% debt today, when you easily could and make your life better and get closer to your goals,

• 1:17:09Caleb Hammer?

  there's no more conversation to be had. I don't know why the [bleep] came on. What a joke. We're gonna go to the post-show, we'll have more pleasant conversations there and have a good time, but as far as this part, I'm done because that's a [bleep] joke. What a sad excuse for a [bleep] 33-year-old. That's rude, but come on. Like, what?

• 1:17:30Caleb Hammer?

  Okay. You did a pump and dump. Let me guess, you're out there buying Hawk to a coin.

• 1:17:34Speaker 01

  Mark Cuban was buying this coin. I bought some of it. In 30 minutes, it went to zero.

• 1:17:40Caleb Hammer?

  30 minutes?

• 1:17:41Speaker 01

  I thought it was pretty cool because Mark Cuban also lost a lot of money, so...

• 1:17:46Caleb Hammer?

  Yeah, but he's a billionaire. You can lose some money. You're a minus-

• 1:17:49Speaker 01

  He made the same mistake as me, though.

• 1:17:50Caleb Hammer?

  Yeah, but you're a dumb [bleep] in there. Like, you have no money. You are a bankruptcy in there. To watch the Financial Audit Post Show, click the Join button below.