Sorry Fellas, You Can't Fix Her | Financial Audit

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

• 0:00Speaker 00

  Your website can do more with Base44. Describe what you want in plain language and build a site where people can book with you or buy from you. Payments, data, security, and hosting are all built in. Go to base44.com.

• 0:15Caleb Hammer?

  To watch episodes of Financial Audit a week earlier, check us out on YouTube. I am already struggling to trust you, which I do not like within 10 minutes of a conversation.

• 0:22Speaker 02

  I'm trying.

• 0:22Caleb Hammer?

  I don't think you know what that word means.

• 0:24Speaker 02

  I'm optimistic that things are gonna get better.

• 0:26Caleb Hammer?

  While being blindly optimistic leads to you getting... It's gonna be their responsibility to take care of their mom because the mom wasn't responsible enough to think, "Hey, maybe I should be an adult for a second."

• 0:36Speaker 02

  This is so funny. I can't wait to get into the next credit card.

• 0:41Caleb 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.

• 0:49Speaker 02

  Hi, my name is Alex. I'm 33, from Georgetown, Texas, and this is Financial Audit.

• 0:56Caleb Hammer?

  What do you do in Georgetown for a living?

• 0:58Speaker 02

  Um, I am in the military.

• 1:00Caleb Hammer?

  Okay.

• 1:01Speaker 02

  Yeah.

• 1:01Caleb Hammer?

  You had to process that one for a second?

• 1:03Speaker 02

  Yeah.

• 1:04Caleb Hammer?

  Okay, cool. What do you do in the military?

• 1:06Speaker 02

  Um, just stuff. I don't, I mean...

• 1:11Caleb Hammer?

  Okay.

• 1:11Speaker 02

  Yeah, just I'm active-duty military.

• 1:13Caleb Hammer?

  Gotcha. Well, what do you make?

• 1:15Speaker 02

  Uh, you know, I don't know. I think I make like 6,000, 7,000 a month.

• 1:23Caleb Hammer?

  We seem to be on a rough start so far, I'll be honest. Lots of unknowns already. Every answer begins with the, "Uh, think about it," and then no real answer. You don't know how much you make.

• 1:40Speaker 02

  So, I, the way that I have my payments split up, they're split up into a couple of different accounts. So, I know like this account gets 1,500 once a month. This one gets kind of the rest of the leftover, and then this account only gets $200.

• 1:53Caleb Hammer?

  Why? Because you don't know how much is coming in because of that, so why?

• 1:57Speaker 02

  So, I have this one for the 1,500. That is, it pays like my mortgage and some of the other bills. And then the 200, that pays for some kid stuff. And then I just, I keep that account open. It's how I transfer money with my kid's dad and me.

• 2:13Caleb Hammer?

  Why are you complicating this so much? Why aren't you, why doesn't your money just go where your money needs to go?

• 2:18Speaker 02

  It does go where it needs to go, and then my other account...

• 2:20Caleb Hammer?

  Yeah, but through a complicated system where you don't know how much you come in and you can't answer my literal second question.

• 2:24Speaker 02

  Oh, yeah.

• 2:26Caleb Hammer?

  Uh huh. So obviously it's over complicated if we don't know our income.

• 2:30Speaker 02

  I do mostly.

• 2:32Caleb Hammer?

  That's not how that works. What do you mean? Can you answer any question I do mostly? Like I can't answer that if my doctor asks how much I weigh and I'm like, I know how much I weigh mostly. Like what? That's not going to be an acceptable.

• 2:49Speaker 02

  Well, I mean, like I, if I want to check it up, I can check up on it. I mean,

• 2:53Caleb Hammer?

  You didn't check up on it before coming on financial audit?

• 2:55Speaker 02

  I mean, I did, but I

• 2:57Caleb Hammer?

  Then how much do you make?

• 2:58Speaker 02

  I, I can't tell you an exact number, but I can just, whenever I'm like

• 3:02Caleb Hammer?

  We're off to a great one.

• 3:03Speaker 02

  Yeah, I just, I go online. I look at the page charts. It's all available online.

• 3:07Caleb Hammer?

  When's the last time you saw it online?

• 3:10Speaker 02

  Uh, last week. Cause I was

• 3:12Caleb Hammer?

  What the f**k did it say last week?

• 3:15Speaker 02

  I have

• 3:16Caleb Hammer?

  Lady.

• 3:20Caleb Hammer?

  And you have kids?

• 3:22Speaker 02

  Yeah. Doing okay.

• 3:24Caleb Hammer?

  Dude, but you wouldn't know if you're doing okay. You don't know your money.

• 3:29Speaker 02

  My bills

• 3:30Caleb Hammer?

  I'm not surprised that I have one of the highest balance credit cards I've ever seen in my life then.

• 3:34Speaker 02

  Oh, okay.

• 3:36Caleb Hammer?

  Right?

• 3:37Speaker 02

  Yeah.

• 3:38Caleb Hammer?

  You probably don't even know the balance.

• 3:40Speaker 02

  I do know the balance. I took it this morning.

• 3:42Caleb Hammer?

  Oh, glad you checked that, but not your actual money. What are the debts? Of course. Yeah. Uh, so I had hitting from payroll, six thousand four hundred twenty.

• 3:52Speaker 02

  A month?

• 3:54Caleb Hammer?

  Six thousand four hundred twenty in the most recent month.

• 3:57Speaker 02

  Okay.

• 3:57Caleb Hammer?

  So it sounded about right?

• 3:58Speaker 02

  Sounds about right.

• 4:00Caleb Hammer?

  Okay.

• 4:01Speaker 02

  I think it's six or seven.

• 4:03Caleb Hammer?

  Yeah, but you didn't know. That's the point. So how do you budget if you don't know?

• 4:09Speaker 02

  I don't budget.

• 4:10Caleb Hammer?

  Okay. That's what I'm getting at. So again, are we surprised that we have the largest credit card balance I think I've seen on this show? No. Okay, sorry. I'm not trying to be hostile. It's just like, you know, it's

• 4:24Speaker 02

  Yeah.

• 4:25Caleb Hammer?

  When you're pulling teeth just to get a damn answer at the beginning of now. Four, six thousand four hundred twenty, right? So how are we feeling living on that as a net income in Georgetown? How we doing?

• 4:37Speaker 02

  Perfectly fine, actually.

• 4:39Caleb Hammer?

  Which is why we have the largest credit card balance I've seen in the history of the show.

• 4:43Speaker 02

  It makes sense when we get into it.

• 4:46Caleb Hammer?

  Make it make sense.

• 4:47Speaker 02

  Make it make sense. Oh, I bought a house and I moved. I mean, I moved here less than a year ago. And a bunch-

• 4:54Caleb Hammer?

  We buy houses when we can't afford to buy a house?

• 4:56Speaker 02

  I bought a house.

• 4:58Caleb Hammer?

  But you said because of buying a house is the reason why we'd be in that much credit card. That mean we couldn't afford to buy the house?

• 5:03Speaker 02

  They movers lost my stuff when I got here. My stuff, my stuff was in storage for two years because I was overseas.

• 5:11Caleb Hammer?

  Okay, so you needed a bed, pots, pans, plates, forks, and a few light bulbs. That's what we need to survive.

• 5:16Speaker 02

  Sure.

• 5:17Caleb Hammer?

  Enough for the kids, right? And some clothes.

• 5:19Speaker 02

  Well-

• 5:20Caleb Hammer?

  Don't want you going out without socks.

• 5:21Speaker 02

  I need a couch.

• 5:23Caleb Hammer?

  Okay, didn't need, but I get what you're saying. I get what you're saying. I do understand. But the thing is, if we have to rack up that much debt and spending in that situation for certain things that are the comforts, the luxury comforts, things that I want you to have.

• 5:36Speaker 02

  Yeah.

• 5:36Caleb Hammer?

  Probably can't afford it at that time. Now they lost it. Did you have any kind of insurance? Were you able to claim anything, anywhere at all, do anything?

• 5:45Speaker 02

  Yeah.

• 5:45Caleb Hammer?

  Okay, go on.

• 5:46Speaker 02

  So, um, the original couch that I bought, I think I bought it probably about like four or five years ago. Got to use it for like a year before I went overseas for the first time.

• 5:55Caleb Hammer?

  Okay, where did you go?

• 5:56Speaker 02

  Um, I went to the Middle East and was deployed and then-

• 6:00Caleb Hammer?

  Very specific, okay.

• 6:01Speaker 02

  Yep, and then I came to, um-

• 6:04Caleb Hammer?

  It's my favorite country.

• 6:05Speaker 02

  I know, right? Um, and then when I got back, everything was fine. I had all my stuff. Nothing was broken. But then I was only in the States for about five months and then I went to Korea for two years. And while I was in-

• 6:16Caleb Hammer?

  North or south?

• 6:18Speaker 02

  Can't go to north, so.

• 6:18Caleb Hammer?

  Oh, we got a specific one there.

• 6:20Speaker 02

  All right, South Korea. I mean-

• 6:22Caleb Hammer?

  Figured it out.

• 6:22Speaker 02

  You talk to any other person in military state Korea, they're like, obviously, South Korea.

• 6:25Caleb Hammer?

  Well, no, I was just making a joke that you gave us an actual answer.

• 6:30Speaker 02

  Well, I mean, for the Middle East, you don't want to divulge too many details. I was actually in like four different countries, so.

• 6:35Caleb Hammer?

  Okay, okay, it's okay.

• 6:36Speaker 02

  Anyways.

• 6:37Caleb Hammer?

  Go on, continue.

• 6:37Speaker 02

  Anyways, so when I got back here and I came to Texas, um, I had a bunch of broken furniture. My couch was completely missing. And when I bought it, it was, I spent like eighteen hundred dollars on it a couple of years ago. And then due to inflation, like, I didn't even get.

• 6:53Caleb Hammer?

  Inflation?

• 6:53Speaker 02

  Well, in.

• 6:54Caleb Hammer?

  You're talking about, what was due to inflation?

• 6:56Speaker 02

  I bought the couch back in like twenty nineteen, the first one. And it was like cheaper then. And then when I went to go try and get a new one, it was not the same price.

• 7:03Caleb Hammer?

  Not even like necessarily due to inflation specifically. Prices will always go up unless we're in deflationary spiral. And at that point, we're done. So it's always gonna go up, even if the Fed's best hope at two percent a year. So like, okay, okay, sorry. That's not a rant we need to go into, but go ahead. I don't think nine percent made or break your life, but go for it.

• 7:22Speaker 02

  So, yeah, anyways, um, when I, uh, did my claim, the claim took like seven or eight months. I actually just got paid for it like a month or two ago.

• 7:30Caleb Hammer?

  Did you pay for them on a credit card? Do you know?

• 7:32Speaker 02

  Pay for what?

• 7:33Caleb Hammer?

  The movers?

• 7:34Speaker 02

  I don't pay for the movers.

• 7:35Caleb Hammer?

  Oh, who paid for the movers? Oh, oh, oh, yes, yes, yes.

• 7:38Speaker 02

  The military pays for the movers.

• 7:39Caleb Hammer?

  Yeah, okay.

• 7:40Speaker 02

  So I tried to make the claim through the moving company. They offered me like six hundred dollars. I was like, this is silly, absolutely not. And so I had to go through a different military claims office. And then I finally get the money and I got nine hundred dollars.

• 7:52Caleb Hammer?

  That does suck. That does suck. The, how, so did you lose everything?

• 7:58Speaker 02

  The couch. I lost the couch, the table was broken. I actually just got.

• 8:02Caleb Hammer?

  Okay, tell me what you actually lost then, the couch and the table.

• 8:05Speaker 02

  Couch, table, um, a couple of dressers were broken for like the kids, so.

• 8:10Caleb Hammer?

  Couple dressers?

• 8:11Speaker 02

  Mm-hmm, they were like bent metal dressers and they got all messed up.

• 8:15Caleb Hammer?

  What else did we lose?

• 8:16Speaker 02

  Um, I think those are major things.

• 8:19Caleb Hammer?

  Okay, then, this is where I would end up, cuz you told me you lost everything.

• 8:25Speaker 02

  I didn't say I lost everything, so they, they lost.

• 8:28Caleb Hammer?

  They just sound like damn everything, did it not?

• 8:30Speaker 02

  I said they lost my stuff.

• 8:31Caleb Hammer?

  Oh, my stuff, my stuff. If, if I said my move, my movers lost my stuff, I would think they lost all my fucking stuff.

• 8:40Speaker 02

  I'm pretty sure I said couch in the beginning, but I could be wrong.

• 8:44Caleb Hammer?

  At that point, that does not equal going into the highest credit card balance I've ever seen in the history of the show. A couch, a couple of dressers and a table. We can go to Facebook Marketplace, get a couch, a couple of dressers and a table to survive.

• 8:56Speaker 02

  Sure.

• 8:57Caleb Hammer?

  Uh huh, exactly.

• 8:58Speaker 02

  When you live like two and a half years without a couch and your only place to sit is a bed, of course I'm going to get a couch immediately.

• 9:05Caleb Hammer?

  Cool, from Facebook Marketplace, from Ikea, from Amazon. What are you talking about? We can get a $500 couch. What are you doing? What are you talking about?

• 9:12Speaker 02

  Okay.

• 9:13Caleb Hammer?

  What kind of life? No.

• 9:15Speaker 02

  Okay.

• 9:16Caleb Hammer?

  Okay.

• 9:17Speaker 02

  You're right.

• 9:18Caleb Hammer?

  I don't think you agree. Oh, you do agree.

• 9:19Speaker 02

  I don't want to get a couch.

• 9:21Caleb Hammer?

  How much was your couch?

• 9:22Speaker 02

  It was $2,000 at the door.

• 9:24Caleb Hammer?

  This doesn't equal $26,000 on a credit card. You, you are saying, the way you were phrasing this, and this is why I am already struggling to trust you, which I do not like within 10 minutes of a conversation, is you were setting that whole experience up. I lost my stuff. We found out it's only a few things. But I lost that stuff as the reason why I'm in $26,000 debt on a singular card.

• 9:45Speaker 02

  Sure.

• 9:47Caleb Hammer?

  A $2,000 couch, a couple of dressers and a table.

• 9:50Speaker 02

  Yeah.

• 9:50Caleb Hammer?

  Equals $26,000? Maybe, if you're going fucking bougie, but you were not, as we've just learned, for the price of the couch.

• 9:57Speaker 02

  Yeah.

• 10:02Caleb Hammer?

  A response?

• 10:03Speaker 02

  No, I mean.

• 10:04Caleb Hammer?

  A thought?

• 10:05Speaker 02

  Uh, what, I mean, couch obviously isn't the only reason why the credit card balance is that high.

• 10:11Caleb Hammer?

  Then why were you setting it up to say the reason why is because of that?

• 10:14Speaker 02

  Kind of where it started, honestly. It was like that.

• 10:16Caleb Hammer?

  Wait, when did you move? You said you've only been here for a year?

• 10:18Speaker 02

  Yeah.

• 10:19Caleb Hammer?

  So you've built this up in less than a year?

• 10:21Speaker 02

  No, that's not true.

• 10:22Caleb Hammer?

  You just said this was the start.

• 10:24Speaker 02

  This was this, this was so, okay.

• 10:26Caleb Hammer?

  Everything you're saying is wrong. Every time you set something up, it is found out to be incorrect.

• 10:31Speaker 02

  Okay, there's so much more that goes on with it, like.

• 10:35Caleb Hammer?

  Then tell, you're literally on a podcast.

• 10:38Speaker 02

  Right.

• 10:38Caleb Hammer?

  I'm sorry, I'm not trying to be moved, but you're just saying incorrect things. You're leading me down the incorrect path constantly. So please.

• 10:45Speaker 02

  All right, so, um, I, in 2022, yeah, in 2022, I sold my first house. Um, and the.

• 10:55Caleb Hammer?

  Great year to sell.

• 10:55Speaker 02

  Exactly. The market went up. I made a pretty good profit.

• 10:59Caleb Hammer?

  Love it.

• 10:59Speaker 02

  And this is, this is where things kind of, they were really good for a while and then they got bad. So I sold the house. I profited $38,000. I paid off all of my debt. All of it. I had zero debt besides the car.

• 11:13Caleb Hammer?

  Kinda don't like that specifically.

• 11:15Speaker 02

  So.

• 11:16Caleb Hammer?

  Cause it's kind of a shortcut instead of actually changing your behavior that got you there in the first place. Cause then you're gonna get right back to.

• 11:23Speaker 02

  Exactly. No. Yeah. So I, since I had all my debts paid off, I had some friends who already told me like, oh, get an American Express card. They're free for military members. You can get all these points, get free flights, free hotels. Cool. And I'm like, it's free. Cause there's no, you still have the interest rate unfortunately, but you don't have to pay the yearly like seven hundred fifty dollar membership fee. So that's, that's the free part.

• 11:43Caleb Hammer?

  But a thirty percent interest rate's okay?

• 11:46Speaker 02

  No, no, absolutely not. No, I hate the interest rate. And like now that it's so high and every time I look at it, I'm like, that's a lot of interest that I'm paying in this. I feel dumb right now. Um, but. So I still had the money. I still had money in my account and then I flew my kids and my mom to Korea for the entire summer in twenty twenty two. And that was extremely expensive. I think flights alone were like eight grand and then I had.

• 12:11Caleb Hammer?

  Not usually something that just someone in the military could just randomly afford, especially since it's more than a month of your income.

• 12:18Speaker 02

  Yeah, no, absolutely not. It was really expensive for sure.

• 12:21Caleb Hammer?

  Really dumb.

• 12:22Speaker 02

  It, well, yes, but I, at that time.

• 12:25Caleb Hammer?

  Did you spend total on that trip?

• 12:27Speaker 02

  Uh, probably like all in all by the end of it. Cause it was about like, I wanna say six to seven weeks. It was about fifteen grand. It was.

• 12:35Caleb Hammer?

  Yeah, we're talking like.

• 12:37Speaker 02

  Hmm. Okay. Yeah, it was honestly, it was so awful.

• 12:39Caleb Hammer?

  Two and a half months of your net income.

• 12:42Speaker 02

  It was, well, honestly, and back then I wasn't even getting housing allowance because when you're living in Korea, you don't get housing allowance at all. So. And I was a lower rank and I had less years in service.

• 12:52Caleb Hammer?

  Where's the story going?

• 12:54Speaker 02

  I ran out of savings and I kept using it.

• 12:57Caleb Hammer?

  Why?

• 12:58Speaker 02

  Cause I was using like my income and like whatever I couldn't pay with my income, I would pull it out of the savings account.

• 13:06Caleb Hammer?

  This is why we budget.

• 13:08Speaker 02

  Yeah. Plus like.

• 13:08Caleb Hammer?

  If you were draining from your savings, you were obviously spending too much and you didn't recognize that?

• 13:13Speaker 02

  I mean, I.

• 13:15Caleb Hammer?

  Did you have a kid at that point?

• 13:16Speaker 02

  I did.

• 13:16Caleb Hammer?

  How, how old is your kid? Oh, your kids. How much? How old?

• 13:20Speaker 02

  Uh, well, right now they're ten and twelve.

• 13:24Caleb Hammer?

  Oh, okay.

• 13:25Speaker 02

  Mm hmm. So.

• 13:27Caleb Hammer?

  They've been around for a second. So somehow you were draining your savings while that was happening while the children existed on this planet?

• 13:34Speaker 02

  Uh huh. For sure.

• 13:37Caleb Hammer?

  Those are choices. Okay, those are certainly choices.

• 13:40Speaker 02

  I'd like to not be in this much debt. I really, I, I wanna get.

• 13:44Caleb Hammer?

  How much did you spend last month?

• 13:45Speaker 02

  Figured out.

• 13:47Caleb Hammer?

  I know you don't have an answer, but go ahead. How much did you spend last month? Let's try, let's try a little best guess.

• 13:52Speaker 02

  Best guess, probably like eight grand.

• 13:54Caleb Hammer?

  Okay, well, I don't even know how to like take that. So again, six thousand two hundred, six thousand four hundred twenty came in. You spent six thousand six hundred forty-three, still more than came in. Which obviously is not helping our overall debt balances go down. But why'd you think you spent eight grand? And why would you be okay with spending eight grand?

• 14:13Speaker 02

  So for last month, like I, I was trying to, you know, obviously do okay, but um.

• 14:19Caleb Hammer?

  What does that mean?

• 14:21Speaker 02

  Well, with like spending, like I really have been.

• 14:24Caleb Hammer?

  You're trying to do okay, but you thought you spent two thousand more dollars than you brought in? What are you talking about?

• 14:27Speaker 02

  I don't, I mean, I was just guessing. I was guessing high and I guessed too high and that's good.

• 14:31Caleb Hammer?

  Yeah, but you said you were trying. So if you thought you were trying, you would think you spent about what you made. So if after trying, you thought you spent two thousand more than you brought in, then what are we talking about?

• 14:41Speaker 02

  I mean, obviously, I know I spend more than what I make because my credit card is twenty-six thousand dollars.

• 14:45Caleb Hammer?

  So what's the trying then? What trying is trying?

• 14:48Speaker 02

  To like, you know, really commit to making large payments and making sure that like my bills get paid, obviously, and everything else. And then whatever is left over is paying for like the essentials, you know, gas and groceries.

• 15:00Caleb Hammer?

  Okay, I get, I get it. You're, okay, I get.

• 15:03Speaker 02

  No more like, I mean, I don't even really go out to eat that much, but it's like I was cutting back even more. Like I was trying.

• 15:11Caleb Hammer?

  Your biggest expenses weren't going out to you. They weren't. But there was a lot of unknown shopping because there's a lot of just categories in here that are like, uh-oh. But again, you did spend more than you brought in. But actionable, again, if you're trying, why wouldn't we do the most simple thing, which is literally make a budget?

• 15:30Speaker 02

  I haven't.

• 15:35Caleb Hammer?

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• 16:16Caleb Hammer?

  And the best part, there is no monthly fees, no minimum deposits, and definitely no awkward bank visits. You handle everything right from your phone while you sip your coffee from home. And as an added bonus, Relay and Profit First are hosting the $25,000 Cash Flow Glow-Up Giveaway. One lucky business owner is walking away with $25,000. It's simple. Just sign up for Relay and deposit $100 or more into your new account by December 31st. And just like that, you're in the running. And even if you don't win the $25,000, using Relay sets you up for better cash flow management in 2024. And when you sign up at relayfi.com/calebcashflow using the link in the description, they have a special $100 bonus just for you. And let's be honest, your business deserves that kind of glow up.

• 17:00Caleb Hammer?

  Join Relay to take control of your cash flow today. Sign up in less than 10 minutes using the link below. That's an answer to why is I haven't?

• 17:08Speaker 02

  I haven't yet. It's been like, it's been on the to-do list.

• 17:11Caleb Hammer?

  That's your answer to why? No, how about the, you answer why, not did you? Why? Can you give me a [bleep] why?

• 17:20Speaker 02

  I, I don't know. I don't, I mean, I thought I could figure it out and like, use like a mental budget, you know? Like, okay, this money is gonna go to this.

• 17:31Caleb Hammer?

  How's that working? You thought you spent more, you didn't know how much came in?

• 17:33Speaker 02

  It's obviously not working.

• 17:36Caleb Hammer?

  Uh huh.

• 17:37Speaker 02

  Uh huh, yeah, so.

• 17:38Caleb Hammer?

  Don't we change things when they, they're not working?

• 17:40Speaker 02

  You're absolutely correct.

• 17:41Caleb Hammer?

  Uh huh, I am, but.

• 17:43Speaker 02

  I'm trying.

• 17:44Caleb Hammer?

  But you, no, I don't think you know what that word means.

• 17:46Speaker 02

  I'm optimistic.

• 17:47Caleb Hammer?

  That's not trying.

• 17:48Speaker 02

  I'm optimistic that things are gonna get better.

• 17:50Caleb Hammer?

  Well, being blindly optimistic leads to you getting [bleep].

• 17:54Speaker 02

  No, I don't think so.

• 17:56Caleb Hammer?

  So it's where you are right now.

• 17:59Speaker 02

  Uh.

• 18:00Caleb Hammer?

  Hey, how much is in your uh TSP?

• 18:02Speaker 02

  I just checked yesterday, it's at nineteen.

• 18:04Caleb Hammer?

  Okay, so.

• 18:06Speaker 02

  I'm not taking that out, absolutely not.

• 18:08Caleb Hammer?

  Huh?

• 18:08Speaker 02

  I'm not gonna take that out. You can, like you can take it out early and I'm like absolutely not.

• 18:15Speaker 02

  Staying in there.

• 18:16Caleb Hammer?

  Was I suggesting you take it out?

• 18:18Speaker 02

  A lot of people do. And a lot of people do take out of it, like it's.

• 18:22Caleb Hammer?

  Yeah, people are stupid.

• 18:23Speaker 02

  Mm hmm, I agree.

• 18:25Caleb Hammer?

  Yeah, you have about twenty percent of what you should have at your age in retirement. So you're dramatically behind.

• 18:32Speaker 02

  Right, but I mean, like, there.

• 18:34Caleb Hammer?

  So you're trying, your optimism is leading to nothing, your optimism is leading to you having more on a credit card than in your retirement on one credit card.

• 18:45Speaker 02

  True.

• 18:45Caleb Hammer?

  Uh, yeah, it's math. Number two, you are dramatically behind in retirement and you have two kids that are going to feel morally obligated to take care of mama when she cannot afford to pay bills in the future.

• 18:58Speaker 02

  The TSP is gonna go way plenty more money before I retire.

• 19:02Caleb Hammer?

  Uh, via how? Cause so, so far you've done mid.

• 19:05Speaker 02

  Uh, well, it's just how it works, like I shifted things around, it's in the correct fund now, like it's making, I just shifted the funds.

• 19:13Caleb Hammer?

  What was the fund into what?

• 19:15Speaker 02

  I, it's like the C fund into the G fund or G fund into C, I don't know, I don't know how it works.

• 19:21Caleb Hammer?

  You don't even know, you can't even describe.

• 19:22Speaker 02

  No, I can't.

• 19:23Caleb Hammer?

  But we're so confident about something we can't describe.

• 19:24Speaker 02

  I mean, do you know more about the different fundings for TSP?

• 19:28Caleb Hammer?

  In terms of CG, I could look it up and what it's kind of comparable to in the overall market.

• 19:33Speaker 02

  Yeah, and I absolutely did that when I was switching everything around.

• 19:36Caleb Hammer?

  Then what was it comparable to? Can you explain it to me?

• 19:38Speaker 02

  I wanna say it went from like one or two percent, uh.

• 19:41Caleb Hammer?

  So we're talking like bonds or something?

• 19:43Speaker 02

  Twenty.

• 19:44Caleb Hammer?

  Well, not like a guaranteed twenty, maybe it performed twenty percent within a certain period of time.

• 19:48Speaker 02

  Yes, yeah, yeah, year to date, it was like twenty six percent.

• 19:51Caleb Hammer?

  But even still, this twenty thousand dollars isn't gonna grow to any, uh, enough for you to retire. Again, this is, oh, are we taking too much of your time?

• 20:00Speaker 02

  Oh, you know, it's just my son's school.

• 20:02Caleb Hammer?

  What do you think your finances are? Score zero to ten. Zero to ten, zero being the absolute worst, ten being the absolute best, where do you think you are today?

• 20:14Speaker 02

  I would probably say like you said, one is the worst.

• 20:18Caleb Hammer?

  Zero.

• 20:18Speaker 02

  Zero is the worst. I would probably say I'm not like a two.

• 20:21Caleb Hammer?

  Mm hmm. Do you want your hammer financial score? It's free. Link in the description below. It's not only for military people. You can do too. You can find out where you are. And also civilians, military alike, come on, join us in Austin, Texas, right here. Come on the show. It's fun. I'll give you some verbal little slaps where we're going to create you a good plan and we're going to set you up with the resources and it'll be good. Go to Calebhammer.com slash apply and come be on the show. All right. Um, I mean, your Amazon must be a huge part because of the unknown shopping. We don't really know what's on Amazon, but you spend a thousand, two hundred and sixty two dollars in one month on Amazon. Yeah, that we could start paying substantial debt down with a thousand, two hundred and sixty two. So we're going to start with the big card. Yeah, yeah, yeah.

• 21:00Speaker 02

  Okay. All right.

• 21:01Caleb Hammer?

  Is this a double dual income household?

• 21:04Speaker 02

  No, that's the thing. It's just me.

• 21:06Caleb Hammer?

  Okay, so, okay, so.

• 21:08Speaker 02

  And it's also my own fault that I racked up the credit card that high. The other one.

• 21:12Caleb Hammer?

  This is a platinum card.

• 21:14Speaker 02

  Yep.

• 21:15Caleb Hammer?

  So again, you really did not tell me how you got to twenty six thousand. I would love to know just from your own opinion, how you got to twenty six thousand.

• 21:24Speaker 02

  Yeah, flights, you know, kids want stuff, gymnastics, like, you know, Six Flags.

• 21:35Caleb Hammer?

  And that's more important than your financial security, their financial security. You haven't any chance to retire.

• 21:40Speaker 02

  Memories are absolutely like really important because I also like.

• 21:44Caleb Hammer?

  I didn't say they weren't, but I'm asking more important.

• 21:47Speaker 02

  I'm only thirty three right now. I'm thinking to myself, I will debt one hundred and fifty percent be debt free by the time I'm forty.

• 21:53Caleb Hammer?

  Not on the path you are. That doesn't make sense.

• 21:55Speaker 02

  Well, obviously, I'm going to make some big changes.

• 21:58Caleb Hammer?

  It literally takes thirty years to pay the soft minimum monthly payment. So I don't know.

• 22:01Speaker 02

  Monthly payments.

• 22:02Caleb Hammer?

  You're right. Instead, you spend two thousand, two hundred and eighty six dollars on it.

• 22:06Speaker 02

  Paid three thousand to it last month. Every month I pay three thousand. I pay a lot.

• 22:13Caleb Hammer?

  Three thousand, thousand. Oh, my God. The three thousand doesn't matter if you're putting two thousand, two hundred and eighty on it and then six hundred twenty nine hours of interest is accruing. You can jerk yourself off over three thousand dollars. Congratulations. But if you're putting most of it back on and interest is accruing, it doesn't fucking matter. Do you not get that?

• 22:34Speaker 02

  I understand.

• 22:36Caleb Hammer?

  Then why are you so proud of this 3,000? Cause you know, by the way, that 3,000 isn't actually 3,000. Because of the money you're spending on here would have been spent in your checking account. Meaning you wouldn't have had that money extra available to put on here. You would have only put about $500 on here, which is, well, the minimum basic required is $948. So it's not like we're really doing anything crazy anyway.

• 22:58Speaker 02

  Yep.

• 23:01Caleb Hammer?

  So, okay, I can't congratulate that? What are you doing spending $2,286.50? When $629 of interest is a queen? That's a queen on a monthly basis? Why are you spending that much money? That's insane.

• 23:14Speaker 02

  Right, so I was being really dumb. And this is how I was budgeting. It's like every single, all the money that I made after I paid all my bills out of like my checking account. I would put all that money towards the card and then I would.

• 23:29Caleb Hammer?

  But you don't know how much is anything, because you couldn't describe your numbers to me at the beginning.

• 23:33Speaker 02

  I looked to see how much is left in the account and then I.

• 23:37Caleb Hammer?

  After what?

• 23:40Caleb Hammer?

  After whatever?

• 23:42Speaker 02

  No, I look at my checking after like my mortgage came out, my light bill came out. I know that my car payment comes out in mid-month pay.

• 23:49Caleb Hammer?

  And that's all that comes out of your checking? There is no spending.

• 23:53Speaker 02

  Correct, there's no spending coming out of my checking. Now, I am trying to fix that and not do it so much, but like today.

• 23:59Caleb Hammer?

  Again, you do not know the word trying. You would just do it.

• 24:03Speaker 02

  Okay, yeah.

• 24:04Caleb Hammer?

  No, do you disagree?

• 24:06Speaker 02

  No, I don't disagree. It's, no, you're right, I have, I, I, I, like.

• 24:10Caleb Hammer?

  Like you're not gonna get out of it by saying, I am trying. Cause you are not, it's in front of us. And that's also just gonna baby you and not gonna get you to anywhere beneficial in the end.

• 24:19Speaker 02

  Yeah.

• 24:20Caleb Hammer?

  I'm just like, oh yeah, you are sweetie, you're trying. No, you're not.

• 24:24Speaker 02

  Okay. I'm not trying. I'm doing a terrible job and I'm spending way too much. I'm swiping that card way too much. I mean, the card is physically falling apart.

• 24:31Caleb Hammer?

  Really?

• 24:34Speaker 02

  I got it in 2022. So like two and a half years now.

• 24:40Caleb Hammer?

  Uh huh. This is an insane balance for a singular card and to be purchasing on here.

• 24:46Speaker 02

  Yeah.

• 24:46Caleb Hammer?

  If you were putting $3,000 to here a month and you weren't purchasing, dude, we would be giving high fives. It'd be a different situation.

• 24:52Speaker 02

  That was the intention.

• 24:52Caleb Hammer?

  Your net that went to this card was less than your minimum monthly payment alone.

• 24:56Speaker 02

  Yeah, I see that.

• 24:58Caleb Hammer?

  You're not. How'd you not see it then?

• 25:00Speaker 02

  I obviously wasn't paying any attention.

• 25:02Caleb Hammer?

  Not even paying attention. Have you looked at your account on here? Say you look at your checking account. You say you look at your credit card account.

• 25:08Speaker 02

  I do look at my credit card account.

• 25:08Caleb Hammer?

  So you would have known.

• 25:10Speaker 02

  Yeah. Well, it doesn't tell you how much you spent this month.

• 25:14Caleb Hammer?

  Yes, it.

• 25:15Speaker 02

  Where?

• 25:15Caleb Hammer?

  Yes, it does.

• 25:16Speaker 02

  Where?

• 25:17Caleb Hammer?

  Right fucking here. Are you serious?

• 25:19Speaker 02

  I don't look at the statements.

• 25:21Caleb Hammer?

  Why don't you pull up your little account for me? Your little special account. Go ahead.

• 25:24Speaker 02

  No.

• 25:25Caleb Hammer?

  What?

• 25:26Speaker 02

  You want me to pull it up?

• 25:28Caleb Hammer?

  That was what I asked.

• 25:29Speaker 02

  It doesn't tell you how much you spent in one month. It only tells you all the transactions.

• 25:36Caleb Hammer?

  But even just seeing mentally those transactions popping up, if I'm seeing many $10 transactions popping up, I can guess I'm spending a few hundred bucks.

• 25:43Speaker 02

  I mean, trust me, I feel like absolute garbage about it. Okay.

• 25:52Caleb Hammer?

  Yeah, your individual purchases here.

• 25:57Caleb Hammer?

  Here we go. Literally one button at the top and you can see exactly how much you spent. Right fucking here. Are you kidding me? Right there. You're at the top of the fucking phone. Now you can see all your purchases here.

• 26:11Speaker 02

  Oh, yeah. So we just did mini Christmas, so.

• 26:19Caleb Hammer?

  Okay, it's a little early.

• 26:21Speaker 02

  Well, this way, I don't, I have neither of my kids for, they're spending Christmas with their dad. And I just had both of them here for Thanksgiving, so we did Thanksgiving and Merry Christmas.

• 26:32Caleb Hammer?

  Merry Christmas, kids. I'm going to, uh, be able to retire so that you're not putting your life on hold to take care of me when I'm older. How about that?

• 26:41Speaker 02

  Well, they're not even thinking about me being Graham Harriday.

• 26:44Caleb Hammer?

  No, it's, it's called you are the responsible adult. You are the one that needs to think for them.

• 26:51Speaker 02

  I'm taking good care of them.

• 26:53Caleb Hammer?

  Not, not financially. No, you're not. You get, them having things is not considered taking good care. I know in our consumerism culture, it might feel that way, but if you are not set up for retirement, you are fucking them. They did not have a choice to come to this world, but they are going to feel morally obligated if you cannot afford to put a roof over your head. And no, your investing account's not gonna to the way you think it is. By the, but what?

• 27:18Speaker 02

  I was just laughing at your reaction.

• 27:20Caleb Hammer?

  And then your credit card's not just gonna be magically debt-free by the time you're, uh, what did you say, like 10 years from now? Forty? Okay. That's not how that works. It's a 30-year thing with the path you're going, so.

• 27:32Speaker 02

  I, okay, well.

• 27:33Caleb Hammer?

  The literal path you're going is 30 years.

• 27:35Speaker 02

  Correct.

• 27:35Caleb Hammer?

  So what the you talking about? It's gonna be their responsibility to take care of their mom because the mom wasn't responsible enough to think, hey, maybe I should be an adult for a second.

• 27:45Speaker 02

  This is so funny. I can't wait to get into the next credit card.

• 27:47Caleb Hammer?

  This is funny.

• 27:48Speaker 02

  Yeah. No, no, no, this isn't funny, but it's just like, it's interesting that you're saying that, like, I'm screwing my kids over, but the next credit card, I don't even use it, but it's in my name and it is racked up.

• 28:00Caleb Hammer?

  Then close it if it's in your name.

• 28:02Speaker 02

  It's, so I, you close a credit with.

• 28:05Caleb Hammer?

  Yep, call, close it.

• 28:06Speaker 02

  I wish, oh.

• 28:07Caleb Hammer?

  Mm-hmm.

• 28:08Speaker 02

  Okay.

• 28:09Caleb Hammer?

  There you go. Solved it.

• 28:10Speaker 02

  Solved it. Easy fix.

• 28:13Caleb Hammer?

  You haven't ever Googled anything?

• 28:14Speaker 02

  So like I froze the card once because my mom uses it. I froze the card.

• 28:19Caleb Hammer?

  Your mom uses it? You can't call your mom and say, please do not use this card?

• 28:21Speaker 02

  I literally have and then she like she'll call me and she'll be like crying like she needs to use the card because she's got to like put her car in the shop.

• 28:29Caleb Hammer?

  See, you want your kids to be fucking that? You want your kids to be in your position and you're calling them? I cannot afford to live. What is your mom actually? Do you know? You're not even giving her money. You're giving her access to credit even and this is debt for you. The thing is your mom, do you, how much do you know about her finances?

• 28:48Speaker 02

  I know nothing about her finances.

• 28:50Caleb Hammer?

  Then you shouldn't be giving her money.

• 28:52Speaker 02

  Now, the reason why I gave her the card, remember, we all came to Korea. My mom picked up my kids and like flew with them to Korea. I was like, Mom, here's the card for airport travel. If like anything happens, if you need to like get like, you know, your flight gets delayed, you need a hotel, whatever.

• 29:09Caleb Hammer?

  You're the one that restarts the card and allows her to spend on it.

• 29:12Speaker 02

  Yeah.

• 29:12Caleb Hammer?

  So I don't care when she got it. This is huge for financial audit. For a year now, my team and I have worked with experts to create what I truly believe are the three best educational programs in the financial space online. We have our budgeting program where I teach you how to create, manage, and revolutionize your budget and control your money. And then there's the investing program where I teach you to define what investing profile applies to you and your life and then teach what specific investing strategies applies to you in that situation. And now finally, we have our debt program where I teach you the best ways to pay off debt, manage debt, and even take advantage of good debt. This has been a revolutionary project that we've been working on for over a year now.

• 29:55Caleb Hammer?

  And just like over 10,000 people who've already taken our educational programs, you can now take advantage of all three of them bundled together at a 15% discount. I've heard from thousands of people now who've taken these classes and they've literally changed their lives for the better. And finally, you can too at a more affordable price. Head to CalebHammer.com or click the link in the description below. You will not regret this.

• 30:20Speaker 02

  She asked me if she could use it for like this or that.

• 30:23Caleb Hammer?

  I know, but why would you allow to give her money if you do not understand her financial position?

• 30:28Speaker 02

  She said she's good.

• 30:30Caleb Hammer?

  That's not.

• 30:32Caleb Hammer?

  Listen, I'm not opposed to giving money to people who need, especially family, especially friends, or whatever. I'm not opposed to that. But understand the financial situation. You could be enabling them. She could be blowing money on things you don't even know. She could be doing bad behavior that you don't even know. I'm not talking about drugs or anything. That's not what I'm talking about. I'm talking about just financial mismanagement. And then you're enabling those by just providing more money. You don't help people by being just fucking nice and allowing them to just bullshit with their life. Sometimes a hard truth is required.

• 31:02Speaker 02

  Yeah, I mean, I'm too nice sometimes, I think.

• 31:06Caleb Hammer?

  That doesn't actually help someone in the end.

• 31:08Speaker 02

  Well, you're, yeah, my, sorry.

• 31:11Caleb Hammer?

  You're allowing her to continue doing what she's doing. And we all know people like that in life.

• 31:15Speaker 02

  My, my, I asked her a month, like a month ago, like if she could, like, because also she had a really bad credit score. I'm like, this will help your credit score. We also need it.

• 31:24Caleb Hammer?

  Well, she's an authorized user?

• 31:26Speaker 02

  Yes.

• 31:27Caleb Hammer?

  Oh, so if you close it, it will also hurt her. Okay. But you said it was in your name. I didn't know.

• 31:32Speaker 02

  Well, it's mine. She's an authorized card holder.

• 31:35Caleb Hammer?

  Yes, exactly.

• 31:36Speaker 02

  Well, I didn't know the difference. So, yeah, and, but I asked her.

• 31:41Caleb Hammer?

  You can't use credit cards. You should not have access. You're not a perfect person.

• 31:44Speaker 02

  I thought, I asked her to open up her own card and do like a card balance because her credit score has like improved a lot.

• 31:49Caleb Hammer?

  She can use the fucking Fizz card, I guess. It's usually geared towards young people, but it only allows you to spend the kind of money that's in your checking accounts. It's like a debit card, but it builds credit. For fuck's sake, I don't know. That's probably too old for that.

• 32:04Caleb Hammer?

  I just, don't, don't, don't do things like that. Don't do things like that unless you understand their financial situation. Or else you could be just enabling them. There is nothing wrong with giving.

• 32:14Speaker 02

  I know.

• 32:14Caleb Hammer?

  But if they are continuing their financial mismanagement, financial misbehavior, you're literally just helping them do that forever.

• 32:24Speaker 02

  Yeah.

• 32:25Caleb Hammer?

  And she's never able to fuck stand on her. Look at her. How old is she?

• 32:28Speaker 02

  Uh, late 50s.

• 32:31Caleb Hammer?

  There you go. Late 50s, early 60s. Doesn't know the age of her parent. Okay. Uh, so at that point, if she's not able to stand on her own financially, not just a hard time, it sounds like for more than a year now. She's been able, been able, enabled all throughout life or something because the fact that she can't stand on her own two feet for a long period of time. Moments of hardship, completely different, completely different.

• 32:55Speaker 02

  Yeah.

• 32:55Caleb Hammer?

  But it sounds like this has been going on for a second.

• 32:57Speaker 02

  Yeah, cuz I was like, I was watching it at first, you know, like trying to keep an eye on it and most of it, most of the charges are large, like flight charges.

• 33:06Caleb Hammer?

  From mom?

• 33:07Speaker 02

  Yeah, so they're like, it'll be like seven hundred dollars, seven hundred dollars.

• 33:10Caleb Hammer?

  Where the fuck is she going?

• 33:11Speaker 02

  So she goes on like, like these work trip situations.

• 33:15Caleb Hammer?

  Okay, is it reimbursed?

• 33:17Speaker 02

  They send her reimbursements and then she'll send some of the reimbursement. She never pays off the full amount.

• 33:22Caleb Hammer?

  Then, ah, but you've allowed her to be, oh, okay. The thing is, um, I need a call. You need to close this thing. Uh, she can do that if she uses her reimbursement and pays it off, but if she's not done, she's just like pocketing the difference.

• 33:35Speaker 02

  She can't, she's not gonna be able to pay off that card. It's at seven thousand dollars.

• 33:39Caleb Hammer?

  I'm not talking about paying it off. I'm saying if she spends work money on it and she gets reimbursed, the reimbursement needs to go to it. And if it doesn't, she's obviously just pocketing the difference and you need to close it.

• 33:48Speaker 02

  That's what I'm talking about. Yeah, that's what I think she's doing. She's like pocketing.

• 33:51Caleb Hammer?

  You think she's doing this and you're allowing this?

• 33:54Speaker 02

  Well, I don't know. I can't really talk to her about money situations.

• 33:57Caleb Hammer?

  Why?

• 33:58Speaker 02

  I, I don't know. It makes her sad or upset. Like, I don't wanna hurt my mom's feelings.

• 34:01Caleb Hammer?

  That's manipulative as fuck.

• 34:03Speaker 02

  I love her.

• 34:04Caleb Hammer?

  It's like the spoiled little brat who gets everything their entire life and the, and then the moment they're questioned, they're like.

• 34:10Speaker 02

  No, it's like so not like that. Like, we have both made major sacrifices for each other.

• 34:16Caleb Hammer?

  No, that's good. That's good. But come on, if you can't have a conversation with someone about money that you are fully supporting or else they start feeling sad. That's.

• 34:26Speaker 02

  Uh, sure.

• 34:28Caleb Hammer?

  You don't agree?

• 34:29Speaker 02

  Uh, it's, yeah, I mean. I think it's an unfair situation. The better way I'd put it rather than saying that it's

• 34:36Caleb Hammer?

  What if I called her?

• 34:38Speaker 02

  Don't call my mom.

• 34:40Caleb Hammer?

  You're not gonna let me call her?

• 34:41Speaker 02

  No, it's my mother.

• 34:42Caleb Hammer?

  Okay.

• 34:43Speaker 02

  I love her.

• 34:44Caleb Hammer?

  Yes. Yeah, if we love her, don't we do the right thing?

• 34:49Speaker 02

  By doing what, what, telling her?

• 34:50Caleb Hammer?

  Having a conversation about the money. You are enabling her.

• 34:54Speaker 02

  Okay.

• 34:55Caleb Hammer?

  No, you're not because you can't give me a single question into or a single answer into what is actually her financial situation.

• 35:01Speaker 02

  Her, I, I know what my stepdad does. I know his like general income and she makes,

• 35:07Caleb Hammer?

  Your stepdad.

• 35:07Speaker 02

  She makes like her bonuses fluctuate or her income fluctuates.

• 35:13Caleb Hammer?

  But you don't know her financial situation. You're just talking about her job.

• 35:16Speaker 02

  What do you mean like?

• 35:17Caleb Hammer?

  Her debt, her income, her spending, where things go, where does the reimbursement go?

• 35:22Speaker 02

  Like that debt that she has is pretty much just that one credit card. The, the one that we share.

• 35:27Caleb Hammer?

  And it's a dual family household income.

• 35:29Speaker 02

  Yeah.

• 35:30Caleb Hammer?

  But she needs your credit.

• 35:32Speaker 02

  She did because she used to have like, she, she used to do all the payday loans like over and over and over and over again.

• 35:38Caleb Hammer?

  And this is someone we want to be an authorized user on our own credit, someone who takes out payday loans.

• 35:42Speaker 02

  Well, I wasn't going to expect her to pay for like the flight stuff.

• 35:47Caleb Hammer?

  Exactly. And this is when we have a conversation like adults.

• 35:50Speaker 02

  Right. And so after Korea, I was like, hey, like, I'm going to turn this card off.

• 35:54Caleb Hammer?

  When was Korea?

• 35:55Speaker 02

  Can I use it for, it was like two years ago.

• 35:57Caleb Hammer?

  Okay. Yeah. I don't give a, that was two years ago. We've had two years.

• 36:03Speaker 02

  It's.

• 36:04Caleb Hammer?

  Like enough with Korea.

• 36:05Speaker 02

  Yeah.

• 36:05Caleb Hammer?

  Korea was two years ago. What about things in 2024?

• 36:08Speaker 02

  Well, sure. Yeah.

• 36:10Caleb Hammer?

  Exactly. Hulu on this card, Peacock, more pre-cock, Peacock, Mr. Car Wash, absolute necessity to survive in Austin, Texas. Amazon, Amazon, more Hulu, woo-hoo, Amazon, Amazon, fast food restaurant. That's what it's actually called. Okay, great. Or is that the, that's the category. Um, but it was, you used Apple Pay. Prime video channels, picnic palace, Amazon, Apple, Spotify, DoorDash, Jimmy John's, more Peacock premium, what are you? Doing what is your life? Why are you obsessed with this Peacock? You're endlessly on here. Are you renting? You must be renting.

• 36:47Speaker 02

  No, not at all.

• 36:48Caleb Hammer?

  You went to a record store, Amazon, Amazon, Amazon. Are you sure the kids aren't getting things?

• 36:52Speaker 02

  He got a record player.

• 36:53Caleb Hammer?

  No, no, no, no, no. From Peacock renting movies or getting something.

• 36:56Speaker 02

  Oh, no.

• 36:57Caleb Hammer?

  This is three Peacock purchases so far.

• 36:58Speaker 02

  I don't know what that is.

• 36:59Caleb Hammer?

  Okay, then you figured out you might have three different subscriptions. TikTok shop, twenty eight dollars. What are you getting? Ha, ha, ha. Our return is twenty percent of where it should be.

• 37:07Speaker 02

  Okay.

• 37:08Caleb Hammer?

  Yeah. What did you get?

• 37:09Speaker 02

  Uh, it was a toy for the kids and they loved it.

• 37:12Caleb Hammer?

  What the fuck you toy getting them on TikTok shop? I thought that all they sold on there is, are you getting your kids?

• 37:17Speaker 02

  Oh, ho. Your algorithm is really messed up then.

• 37:20Caleb Hammer?

  Yeah, it is. Hey, yo, what the fuck?

• 37:24Caleb Hammer?

  Okay, what? What are you getting?

• 37:26Speaker 02

  It was a toy. I mean, it was like.

• 37:28Caleb Hammer?

  Yeah, just what?

• 37:29Speaker 02

  I don't know. It was like the little water, like jelly toy thing situation. They loved it. Yeah. Played with it for hours. It's a great purchase.

• 37:36Caleb Hammer?

  That was it?

• 37:37Speaker 02

  Well, they just got it like a couple of days ago. And he just left. I'm not wearing.

• 37:41Caleb Hammer?

  Oh, for micro Christmas.

• 37:43Speaker 02

  Yep, yep. Mini Christmas.

• 37:45Caleb Hammer?

  Oh, my. Here, it comes again. You ready? Uh, there's the Apple Pay store. The Peacock! Are you kidding me? And that door dashing Jimmy John's. Why are we door dashing Jimmy John's so much? Domino's, Amazon, Amazon, Apple Bell, and more Amazon. All right. Eight hundred twenty-four dollars on Amazon right there.

• 38:01Speaker 02

  That was mini Christmas.

• 38:02Caleb Hammer?

  Stop with your mini Christmas. This is a huge Christmas. You're spending so much money. You, you, the money you're spending is more than I ever got for Christmas. This is huge Christmas. This is like.

• 38:11Speaker 02

  Kids, what are you talking about?

• 38:12Caleb Hammer?

  It's a three kid household that I grew up in. So shut the fuck up. Let me see your Amazon account.

• 38:17Speaker 02

  No.

• 38:19Caleb Hammer?

  Six, the six, six hundred twenty-nine hours of interest accrued. This is so far five thousand dollars. Five thousand dollars.

• 38:24Speaker 02

  For what?

• 38:25Caleb Hammer?

  Five thousand dollars of interest on one card.

• 38:27Speaker 02

  Year to date?

• 38:28Caleb Hammer?

  Yes, literally. That's a twenty-seven point four nine percent interest. I could put that in my Mumu account and my uninvested cash gets, I think it's like nine percent return on my money for the first six months or something like that. Something crazy in my Mumu account.

• 38:45Speaker 02

  I don't know.

• 38:45Caleb Hammer?

  But you're just, it's my investing account, but you're allowing five thousand dollars of interest to be accrued negatively? And then a massive S balance of twenty-six thousand nine hundred fifty-five dollars at twenty-seven point four seven percent interest? For fuck. Oh, that's okay. Can you unlock that again?

• 39:01Speaker 02

  Yep, there you go.

• 39:02Caleb Hammer?

  Oi, oi, oi!

• 39:05Caleb Hammer?

  All right, arriving Sunday. Cat food good. I'm glad you're feeding them.

• 39:11Caleb Hammer?

  You need a little stand for your iPad. I get it.

• 39:13Speaker 02

  Oh, you need a cape.

• 39:14Caleb Hammer?

  You don't need a fucking apple pencil and different tips.

• 39:17Speaker 02

  Well.

• 39:18Caleb Hammer?

  Come on.

• 39:19Speaker 02

  It's for my kid. Wasn't even for me.

• 39:20Caleb Hammer?

  Oh, we're raising iPad kids. That's great. There's your 10th generation iPad.

• 39:24Speaker 02

  He's so artistic.

• 39:26Caleb Hammer?

  You're gonna make him autistic with all this? I don't know if that's how it works.

• 39:31Speaker 02

  I don't think so.

• 39:32Caleb Hammer?

  All I know is iPad kids, they normally... Honestly, they really do not do as well in school. We're starting to see the actual consequences of this.

• 39:40Speaker 02

  They're on honor roll, thriving.

• 39:41Caleb Hammer?

  No, it's fine. It's fine. I'm not saying they are, but can we afford to get an iPad right now?

• 39:46Speaker 02

  Honestly, if you ask my older kid, he'll say that, you know, screen time gives you brain rot and he'll agree with you, but...

• 39:51Caleb Hammer?

  Right. He's more mature than you.

• 39:53Speaker 02

  Okay.

• 39:54Caleb Hammer?

  Men's pullover hoodie, that must be for micro Christmas. And then double drones. We droned it up. Drone battle?

• 40:01Speaker 02

  Yes. Yeah, yeah. They each had to have one.

• 40:04Caleb Hammer?

  Of course.

• 40:05Speaker 02

  Yeah.

• 40:06Caleb Hammer?

  A roasting pan. You did not have a pan.

• 40:08Speaker 02

  I didn't have a pan.

• 40:09Caleb Hammer?

  And, uh, wonder creature, cat, water?

• 40:13Speaker 02

  That was a new water bowl.

• 40:15Caleb Hammer?

  Okay, I know you have bowls and I know you have water. If we're literally just trying to survive, I don't think those are just the luxuries we're getting.

• 40:21Speaker 02

  Well, it has if you need to have a water filter in Texas and I don't have a water filter on my sink, so that has a water filter.

• 40:29Caleb Hammer?

  Is it 98.5% of faucet water in the United States? Drinkable, safely?

• 40:37Speaker 02

  I'm specifically talking about Texas. It is disgusting here. If you don't have a water filter.

• 40:42Caleb Hammer?

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• 41:28Caleb Hammer?

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• 42:13Caleb Hammer?

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• 42:33Speaker 02

  But it's bad for you. Like it's like loaded with minerals, the water. It has like a bunch of like calcium and lime in it. It's awful. So bad.

• 42:46Caleb Hammer?

  Need to beat headphones when we can't afford to survive. Same with Legos.

• 42:50Speaker 02

  Sale.

• 42:50Caleb Hammer?

  Oh my, I don't need a thing for every single little thing. You got a stupid Oculus, okay?

• 42:54Speaker 02

  That was for the kids.

• 42:56Caleb Hammer?

  I get that's all it is. You careful. You have $28,000 on this credit card. Do you not get that? I know it's all for the kids. I don't need to know it's for the kids every single purchase. I know it's for the kids. That's why it's mini Christmas. I get it. Can you afford it is the answer, the question. No. National Geographic, that's great. Uh, for, oh, okay. Low, a cordless leaf blower. Wireless charger. You did not need a wireless charger stand. For the kids. I'm sure they could charge their phone. A choo-choo train set. We really needed it for micro Christmas. And then we got little, what is this, a gay Batman?

• 43:37Speaker 02

  I don't know what you're looking at.

• 43:40Caleb Hammer?

  I think it's gay Batman.

• 43:43Caleb Hammer?

  Rocks?

• 43:44Speaker 02

  He likes rocks.

• 43:49Caleb Hammer?

  He likes rocks.

• 43:50Speaker 02

  Loves rocks.

• 43:50Caleb Hammer?

  But we're scared of drinking minerals.

• 43:54Caleb Hammer?

  You can't do this. You're in their future. Do they have a college fund?

• 43:57Speaker 02

  Yeah.

• 43:58Caleb Hammer?

  What?

• 43:58Speaker 02

  Well, they they're getting the GI bill.

• 44:00Caleb Hammer?

  Both?

• 44:01Speaker 02

  Yeah.

• 44:02Caleb Hammer?

  And it'll cover everything.

• 44:03Speaker 02

  Everything, four years, four years, and they get paid.

• 44:07Speaker 02

  Because their dad is giving one, his GI bill to one kid. I'm giving my GI.

• 44:10Caleb Hammer?

  Ah, there it is.

• 44:12Speaker 02

  They are set up for life and they even get to go to.

• 44:14Caleb Hammer?

  They're set up for college.

• 44:15Speaker 02

  Yeah.

• 44:15Caleb Hammer?

  That's not.

• 44:16Speaker 02

  All the way up to a master's degree.

• 44:18Caleb Hammer?

  That helps a lot. Cafu, lots of phone cases and screen protectors. This is just so much bull. So much camping light, now lots of camping gear. We must have went on a camping trip.

• 44:29Speaker 02

  We did go on a camping trip.

• 44:31Caleb Hammer?

  That we couldn't afford.

• 44:32Speaker 02

  It was super fun.

• 44:33Caleb Hammer?

  That we couldn't afford.

• 44:33Speaker 02

  Memories.

• 44:35Caleb Hammer?

  That we couldn't afford.

• 44:36Speaker 02

  Worth it.

• 44:38Caleb Hammer?

  It, like, mathematically it was not, but sure.

• 44:44Caleb Hammer?

  An eighty-four month car loan? Oh, you really are patriarch. This is the most American thing I've ever seen. What an eighty-four month car loan?

• 44:55Speaker 02

  I want lower payments.

• 44:58Caleb Hammer?

  You know, that's not how it works. You are paying more in interest over time because you are allowing that balance to sit longer.

• 45:04Speaker 02

  Oh, I'm going to refinance it when rates go down.

• 45:08Caleb Hammer?

  Okay, if rates go down.

• 45:10Speaker 02

  When rates go down. They will go down for sure. They're.

• 45:13Caleb Hammer?

  What?

• 45:14Speaker 02

  Yeah.

• 45:14Caleb Hammer?

  I'm sorry, you chair the Federal Reserve?

• 45:16Speaker 02

  Well, I mean, I'm just, you know, assuming. They're definitely going to go down.

• 45:21Caleb Hammer?

  Assuming?

• 45:21Speaker 02

  Not really. I mean, they're they're kind of at like an all time high when I went and bought the car.

• 45:25Caleb Hammer?

  They've been cut a couple of times this year, but you don't know what's happening. A new administration is coming in. What if it's, you know, things are different?

• 45:30Speaker 02

  We'll cross our fingers.

• 45:31Caleb Hammer?

  You, but we don't know. I don't know.

• 45:33Speaker 02

  But I mean, if I can't refinance, then whatever. If I can, awesome.

• 45:36Caleb Hammer?

  Whatever. I have an eighty-four month loan. I'm going to have this this car for seven years. The loan itself for seven years. That's a whatever. Seven years of my life doesn't matter. I'm going to be forty and I finally paid off my car.

• 45:48Speaker 02

  And?

• 45:50Caleb Hammer?

  That's a long time.

• 45:51Speaker 02

  That car is going to last me a long time.

• 45:53Caleb Hammer?

  You're an American. You are not going to be happy with the car for seven years.

• 45:56Speaker 02

  Uh, well, that's probably true. I was, I mean, I had my last car for like five years and that was a long time for me, but it was like.

• 46:05Caleb Hammer?

  There you go. You're answering my.

• 46:06Speaker 02

  But listen, it was like starting to like have issues and I was gone for so long and it was parked. I'm like, you're breaking down when you're parked.

• 46:13Caleb Hammer?

  You are going to find this being breaking down in seven years.

• 46:17Speaker 02

  I don't know, but yeah, seven years, but this car like I only got to drive it for like what two?

• 46:23Caleb Hammer?

  Yo, thirty nine thousand is worth thirty one thousand.

• 46:25Speaker 02

  I cause I just bought it this year.

• 46:27Caleb Hammer?

  Yeah.

• 46:28Speaker 02

  Of course, the value isn't that great, but I didn't have.

• 46:30Caleb Hammer?

  It's never going to be.

• 46:32Speaker 02

  But I didn't have any rollover on my last trade in, so.

• 46:35Caleb Hammer?

  Congratulations, you met a basic requirement. I'm like, yeah.

• 46:38Speaker 02

  Yeah.

• 46:39Caleb Hammer?

  You want high fives, you want high fives over making a massive payment on the car, but then you spent it all way back? And then you want to high five over not rolling over a previous balance?

• 46:48Speaker 02

  A lot of people do that, though.

• 46:49Caleb Hammer?

  A lot of people do a lot of dumb shit. I don't give a shit.

• 46:52Speaker 02

  Okay.

• 46:53Caleb Hammer?

  Okay.

• 46:55Speaker 02

  I still think.

• 46:55Caleb Hammer?

  A lot of people vape. Should you, do I deserve like massive rewards for not?

• 47:02Speaker 02

  Yeah.

• 47:03Caleb Hammer?

  No.

• 47:05Speaker 02

  Okay.

• 47:07Speaker 02

  Yeah.

• 47:08Caleb Hammer?

  Want to be how I raised my kids. Hey, guys, you didn't murder someone at school today. Good job.

• 47:15Speaker 02

  You didn't get in a fight today. Good job. I think that is some definitely high five worthy.

• 47:21Caleb Hammer?

  Eighty four months. What is it? Two thousand twenty four Kia Sportage?

• 47:28Caleb Hammer?

  Nine thousand seven hundred thirty five dollars and eighty one cents. My goodness, with a minimum monthly, oh. This is, this is spread out. This is considered a lower monthly payment because we spread it out so long and it is six hundred thirty. Three dollars and seventy, no, six hundred thirty eight dollars and seventy cents. That's an insane, disgusting, despicable car payment. For seven years, uh, something we're underwater by eight thousand dollars. Are you kidding me? And you do not even think of this as bad.

• 48:00Speaker 02

  I feel like six hundred is a normal car payment.

• 48:03Caleb Hammer?

  Normal. Why do you give a shit about normal? Why are you comparing yourself to normal? The average Americans can't afford a thousand dollar emergency. Why do you care about normal? People aren't set for retirement in the United States. You, you want to be compared to them? People have credit card debt in the United States. Do you want to be compared to them?

• 48:19Speaker 02

  No.

• 48:19Caleb Hammer?

  Exactly. The median age to buy their first home is now something in like their 50s. You beat that, but you want to be compared to them? It's like, why? Why is normal how we're basing it? As long as we're not a complete piece of shit financially speaking, then we're okay. What do you mean? You can afford it. You don't have retirement. You are 20% to where you should be at your age.

• 48:41Speaker 02

  I mean, I'm not retiring right now, so I'm not worried about it.

• 48:44Caleb Hammer?

  No, this is fucking time. Time is everything. Some, some people, Mr. Dave Pop, Dave out there, Dave Ramsey, do you know Dave Ramsey?

• 48:51Speaker 02

  I don't know anything about Dave Ramsey.

• 48:52Caleb Hammer?

  You've never heard of Dave Ramsey?

• 48:53Speaker 02

  I've heard of him.

• 48:54Caleb Hammer?

  The best, the, the, the, the most powerful wealth building tool is your income. That's what he says. No, the most powerful wealth building tool is time. Time in the market, allowing it to compound. You are taking that away. You don't just all of a sudden magically retire. You're already behind. You've already given up your best decade in your life or investing for compound growth. You are almost halfway through the second best decade of your life for compound growth. You are only going to have two to two and a half decades, maybe three, if you worked for a very long time. Decade of compound growth when you could have had four or five.

• 49:28Speaker 02

  Well, I mean, I have the TSP that's going to be continued to grow for until I'm 59 and a half.

• 49:33Caleb Hammer?

  Yes.

• 49:34Speaker 02

  And I'm also going to get one of those.

• 49:35Caleb Hammer?

  No, I'm going to interrupt you.

• 49:36Speaker 02

  Okay.

• 49:37Caleb Hammer?

  It's going to continue to grow 20% behind where it should be. Again, it should be, you should be on track for retirement and it grows at the same pace from there. You're 20% behind, meaning if it still grows at an incredible, normal pace, you're always still 20% behind.

• 49:59Speaker 02

  Okay.

• 49:59Caleb Hammer?

  What was your second point?

• 50:01Speaker 02

  In 12 years, 12 years, I will get automatic retirement anyways.

• 50:04Caleb Hammer?

  Of how much?

• 50:05Speaker 02

  Whatever I.

• 50:07Caleb Hammer?

  What's it at today? If you did it.

• 50:08Speaker 02

  If I were to retire, I.

• 50:10Caleb Hammer?

  No, no, no, no, no, no, no. Just what, what do you think it would be?

• 50:13Speaker 02

  Cause it, cause it goes off of years of service.

• 50:15Caleb Hammer?

  I know. What do you think it'll be?

• 50:16Speaker 02

  I, I don't know.

• 50:18Caleb Hammer?

  Okay. Someone doing it today in your position, what are they getting?

• 50:20Speaker 02

  I don't know.

• 50:21Caleb Hammer?

  Oh, you don't know anything. Good.

• 50:25Speaker 02

  You can't retire at.

• 50:27Caleb Hammer?

  I'm no, no, I'm saying, uh, what you said in a couple of decades, 12 years.

• 50:31Speaker 02

  12 years.

• 50:32Caleb Hammer?

  12 years. If someone's doing that today, they completed that extra 12 years.

• 50:36Speaker 02

  Yes.

• 50:36Caleb Hammer?

  In your situation, what are they getting?

• 50:38Speaker 02

  Uh, probably like four to five, maybe six grand a month. It really just depends.

• 50:42Caleb Hammer?

  Forty six, that is such a huge range.

• 50:45Speaker 02

  I mean.

• 50:46Caleb Hammer?

  Do you not respect the dollar? Two thousand dollars is a huge amount of money.

• 50:48Speaker 02

  But also like, you know, if, you know, you're going to be retiring, uh, you know, between 40 and 45, you can absolutely still work and get, you know, have a, get, make a diploma while you're still.

• 50:58Caleb Hammer?

  A diploma?

• 51:00Speaker 02

  Earn your diploma, work towards, you know, college while you're.

• 51:03Caleb Hammer?

  Will it cover you and your kid?

• 51:05Speaker 02

  Yeah, I have, we have different college funds. Like.

• 51:07Caleb Hammer?

  Okay.

• 51:08Speaker 02

  I get tuition assistance. They get the GI bill.

• 51:11Caleb Hammer?

  Oh, assistance.

• 51:12Speaker 02

  No, it pays for the entire class.

• 51:13Caleb Hammer?

  Okay.

• 51:14Speaker 02

  Yeah, per semester.

• 51:15Caleb Hammer?

  Up to a certain amount or no matter what?

• 51:17Speaker 02

  Uh, I think you can take up to like five classes.

• 51:20Caleb Hammer?

  But anything, like it could be a private out of state, like or a community college. Like, what are we talking?

• 51:25Speaker 02

  Well, they have a ton of like colleges you can go to online and really depends. There are some universities that.

• 51:30Caleb Hammer?

  Okay, listen, no, it is not insignificant being able to, let's say the 4,000, even 4,000 hours a year for the rest of your life is not bad. That is not going to be enough to survive necessarily. And it's certainly not enough to support the lifestyle you want to do.

• 51:43Speaker 02

  Oh, no.

• 51:43Caleb Hammer?

  I could survive over 4,000 hours a month. I would have to sacrifice my lifestyle immensely. And you could do that as well. I just know you could not do 4,000 hours a month.

• 51:52Speaker 02

  Not right now.

• 51:53Caleb Hammer?

  And you're not setting yourself up to double that either.

• 51:58Speaker 02

  What do you mean double it?

• 51:59Caleb Hammer?

  To have 8,000 hours a month with your other retirements combined with your four.

• 52:04Speaker 02

  Another retirement?

• 52:05Caleb Hammer?

  Oh, my good, your TSA.

• 52:09Speaker 02

  That, that's not till 60.

• 52:11Caleb Hammer?

  I get that. I'm saying you're not on track to take it from 4,000 hours a month to 8,000 hours a month, combining both.

• 52:17Speaker 02

  Oh, okay.

• 52:18Caleb Hammer?

  Uh huh. So no, you can't afford micro Christmas, which was how that started. If you're behind on retirement, you cannot afford it. If you have a 28,000, 30% credit card, you cannot afford it.

• 52:33Speaker 02

  Memories.

• 52:33Caleb Hammer?

  No, it wasn't micro Christmas. You're saying you can afford this monthly payment. No, you can't because of all those things.

• 52:38Speaker 02

  Okay.

• 52:39Caleb Hammer?

  That's the simple reality.

• 52:44Speaker 02

  But what am I gonna do? Nothing.

• 52:46Caleb Hammer?

  Uh, cash car, ten thousand hour car, even if you have to take out a ten thousand hour.

• 52:49Speaker 02

  So what am I gonna do with this car? That's eight thousand dollars underwater.

• 52:53Caleb Hammer?

  Oh, what are you gonna do right now? Okay, well, that's different.

• 52:55Speaker 02

  Can't really do anything right now.

• 52:56Caleb Hammer?

  Uh, no, we can attack it. We can go crazy.

• 52:59Speaker 02

  You mean attack it? Like make extra payments?

• 53:01Caleb Hammer?

  Yes.

• 53:02Speaker 02

  Okay. No. Well, I mean, I could, for sure.

• 53:05Caleb Hammer?

  No?

• 53:05Speaker 02

  No, no, no, I don't know. I'm not saying no. Uh, that's just initial reaction. Then it's like, okay, let's hear. Because I mean, if it comes, like if it makes sense, like I got so much more that I really have to pay for that adding a little bit more.

• 53:18Caleb Hammer?

  Meaning that you actually cannot afford this car.

• 53:20Speaker 02

  Sure, okay. I can afford it with my income.

• 53:24Caleb Hammer?

  You're spending more than you make.

• 53:25Speaker 02

  I'm spending more than I make, though, because of my credit card situation.

• 53:29Caleb Hammer?

  So if because of a credit card situation, we are where we are today, then no, you cannot afford the car payment. How is this that complicated?

• 53:36Speaker 02

  Uh, it makes sense to me.

• 53:39Caleb Hammer?

  I don't know how.

• 53:41Speaker 02

  Okay.

• 53:41Caleb Hammer?

  A blonde thing?

• 53:43Speaker 02

  Probably.

• 53:44Caleb Hammer?

  Okay, so blue cash preferred. Is this mommy's?

• 53:47Speaker 02

  No, that's mine. That one is almost paid off.

• 53:50Caleb Hammer?

  It is almost paid off, and it's interest-free. We're attacking an interest-free card first?

• 53:55Speaker 02

  It's interest-free?

• 53:56Caleb Hammer?

  Um, well, no interest is accruing, and it has a balance. So my guess, yeah. Only through February, so we're almost there anyway. It'd be three months from now.

• 54:04Speaker 02

  Okay.

• 54:05Caleb Hammer?

  Was any particular reason you were attacking this one first?

• 54:08Speaker 02

  I wasn't. I was just like ticking away one little bit a month.

• 54:14Caleb Hammer?

  Yeah, but you're doing much more than the minimum on this. You put two hundred dollars towards it when it's a forty dollar minimum payment.

• 54:19Speaker 02

  That's what I always do. I'm like, okay, I put like big payment, small payment, small payment.

• 54:23Caleb Hammer?

  Okay, so there was actual no intention or strategy or idea or thought. Okay.

• 54:27Speaker 02

  No.

• 54:27Caleb Hammer?

  Five hundred eleven hours and fifty cents is the balance on here with a forty dollar minimum payment. No purchases, no interest. Good. Thank.

• 54:34Speaker 02

  Cool.

• 54:38Caleb Hammer?

  February and then it's twenty seven, twenty eight percentages.

• 54:42Speaker 02

  Well, I guess we're just not gonna use her.

• 54:44Caleb Hammer?

  Oh, what is this Navy Federal Credit? This is a huge, is this must be mom Navy Federal?

• 54:48Speaker 02

  Is that like six, seven grand?

• 54:50Caleb Hammer?

  Seven thousand four hundred seventy two.

• 54:52Speaker 02

  Yes. I only made one charge on it, I think, and then I paid it right away.

• 54:58Caleb Hammer?

  Close.

• 54:59Speaker 02

  Close?

• 54:59Caleb Hammer?

  Close.

• 55:00Speaker 02

  What close?

• 55:01Caleb Hammer?

  Close.

• 55:02Speaker 02

  Oh, close the card. I thought you said clo- like clothing.

• 55:04Caleb Hammer?

  No.

• 55:05Speaker 02

  Oh, close it.

• 55:06Caleb Hammer?

  Or understand her financial situation better and then gift her cash if she ever needs.

• 55:11Speaker 02

  Okay.

• 55:14Speaker 02

  All right. I'll do that.

• 55:15Caleb Hammer?

  Does that make sense?

• 55:16Speaker 02

  Yep.

• 55:17Caleb Hammer?

  She work?

• 55:18Speaker 02

  Yeah, she does.

• 55:20Caleb Hammer?

  I'm very concerned that you're not able to have a conversation with her, but she'll just get sad.

• 55:23Speaker 02

  Yeah, we don't talk about.

• 55:24Caleb Hammer?

  Like, I don't know how the you're gonna do this.

• 55:26Speaker 02

  We grew up very, very poor, so.

• 55:28Caleb Hammer?

  Great.

• 55:29Speaker 02

  It's like tough to like talk about.

• 55:30Caleb Hammer?

  I also grew up not in a financially good household. Guess what? We have conversations because we're adults and we know how to communicate with each other and we don't get offended at everything and act like we're children.

• 55:43Speaker 02

  Okay.

• 55:45Caleb Hammer?

  Is that a balance of seven thousand?

• 55:50Caleb Hammer?

  Seven thousand four hundred seventy two dollars and ninety five cents. Lindsay's checking on your child.

• 55:57Speaker 02

  Oh, okay.

• 55:58Caleb Hammer?

  Bathroom break.

• 55:59Speaker 02

  He just wants to be nosy.

• 56:01Caleb Hammer?

  Hundred and forty one dollars and thirty six cents is out on this. I will not swear for five minutes. Two minutes. Two minutes of no swearing for child purposes. Hundred and forty one dollars and thirty six cents.

• 56:14Speaker 02

  Is the payment?

• 56:15Caleb Hammer?

  That's your minimum. Yep.

• 56:16Speaker 02

  Okay, yeah. So I have, I have a recurring payment.

• 56:19Caleb Hammer?

  You effing dumb dumb. This is so stupid.

• 56:26Speaker 02

  Why?

• 56:28Caleb Hammer?

  You.

• 56:31Caleb Hammer?

  Made a $352 payment. Good. It's double your minimum, but did you purchase $507 with interest according to $66? What does happen? Oh, this is your mom. That's right.

• 56:40Speaker 02

  What was that $300 charge?

• 56:43Caleb Hammer?

  No, 352 went to the card.

• 56:45Speaker 02

  Oh, what was that?

• 56:46Caleb Hammer?

  But $507 was charged.

• 56:48Speaker 02

  To what? American Airlines?

• 56:49Caleb Hammer?

  You don't even know what it was. You don't look. You don't-

• 56:50Speaker 02

  I don't look at it because I don't spend it.

• 56:52Caleb Hammer?

  But it is your credit.

• 56:54Speaker 02

  And I make sure that it's paid every month.

• 56:56Caleb Hammer?

  At your minimum.

• 56:57Speaker 02

  No, at least. So I have a recurring payment. I cannot-

• 57:00Caleb Hammer?

  22 years to pay off, but that's with no purchases. There's always-

• 57:05Speaker 02

  But I never do-

• 57:06Caleb Hammer?

  Oh, she went to Fairfield and had some in-in suites.

• 57:10Speaker 02

  Yeah.

• 57:11Caleb Hammer?

  She stayed at a hotel.

• 57:11Speaker 02

  One of those work trips.

• 57:13Caleb Hammer?

  One of those work trips that's never reimbursed back into the account.

• 57:15Speaker 02

  Correct.

• 57:15Caleb Hammer?

  Are you sure I cannot call her? Because I think she needs a little conversation.

• 57:19Speaker 02

  No, we're not. We're not calling her.

• 57:21Caleb Hammer?

  Okay.

• 57:22Speaker 02

  No.

• 57:22Caleb Hammer?

  Why?

• 57:23Speaker 02

  No.

• 57:23Caleb Hammer?

  Why?

• 57:24Speaker 02

  I don't want you to.

• 57:25Caleb Hammer?

  Uh huh. Why?

• 57:26Speaker 02

  Because she-

• 57:27Caleb Hammer?

  I'm not gonna push you to. I wanna know why.

• 57:29Speaker 02

  Nobody knows I'm here right now. This is a big secret.

• 57:31Caleb Hammer?

  Okay, well, they will, won't they?

• 57:33Speaker 02

  They will eventually.

• 57:34Caleb Hammer?

  Yeah, in like three weeks.

• 57:35Speaker 02

  And if you call her and you're like yelling at her through the phone, she's gonna be like-

• 57:39Caleb Hammer?

  I'll be informative.

• 57:40Speaker 02

  Who the hell is this? What's going on?

• 57:42Caleb Hammer?

  I only-

• 57:43Speaker 02

  Don't tell me how to live my life.

• 57:45Caleb Hammer?

  I only yell at people that I have permission to. I will just give her the flat, what's going on? Just get a little information.

• 57:52Speaker 02

  Okay.

• 57:52Caleb Hammer?

  Fuck, can you call her and ask her? I won't participate.

• 57:55Speaker 02

  Oh, I will.

• 57:57Caleb Hammer?

  In the post-show?

• 57:58Speaker 02

  Oh, I'll do the post-show. Yeah, yeah, yeah.

• 57:59Caleb Hammer?

  In the post-show, you'll call her.

• 58:01Speaker 02

  I'll call her.

• 58:02Caleb Hammer?

  All right, guys. We'll do it in the post-show because it's behind a paywall. People feel more comfortable with personal things there. Feel free to join our, uh, join, link in the description below. Join Hammer Elite, by the way, for like 10,000 hours of extra content. Exclusive audits, live streams, and even a call-in show. It's very fun. Total interest is you're charged so far at $708 on here. That's insane. That's disgusting. It's vomit.

• 58:26Speaker 02

  Not as bad as the other one. The other one was disgusting.

• 58:28Caleb Hammer?

  No shit. But come on. Again, let's not play the compare game. That does not mean that it's not bad.

• 58:33Speaker 02

  You know, it's probably my worst habit.

• 58:35Caleb Hammer?

  Compare game.

• 58:35Speaker 02

  It's comparing.

• 58:37Caleb Hammer?

  Spending money you don't have.

• 58:40Speaker 02

  Okay.

• 58:40Caleb Hammer?

  Wells Fargo.

• 58:42Speaker 02

  Uh huh.

• 58:42Caleb Hammer?

  Reflect Visa Platinum Card.

• 58:45Speaker 02

  Uh huh.

• 58:45Caleb Hammer?

  Everything. Okay.

• 58:46Speaker 02

  I pay that one on every month. Pay it off every month because it just gets.

• 58:50Caleb Hammer?

  Yeah, looks like you did.

• 58:51Speaker 02

  Yeah.

• 58:52Caleb Hammer?

  Uh, Gambit Social House, Gambit Social House, and then a Gym Kits. That's a hundred and then fifty-nine and then thirty. It's still so much money that you are then forced to pay off on this instead of putting extra money towards the other debt. So what are we doing? Those two first things were bullshit.

• 59:05Speaker 02

  Well, yeah, no, those were dumb, for sure. I, uh.

• 59:09Caleb Hammer?

  That's money that could have been paying off your other debt.

• 59:13Speaker 02

  Yeah, but you know.

• 59:14Caleb Hammer?

  So what are we doing?

• 59:15Speaker 02

  Socializing, obviously.

• 59:17Caleb Hammer?

  Socialize for free. Go to a dog park.

• 59:19Speaker 02

  I don't like dogs.

• 59:20Caleb Hammer?

  Put your kids on a leash. It's your dog. Woof woof.

• 59:23Speaker 02

  You're no, no, no, that's so silly.

• 59:27Speaker 02

  And we're like, we're homebodies.

• 59:28Caleb Hammer?

  So much you can do that doesn't require having to go spend money.

• 59:33Speaker 02

  I really don't know. I mean, we go hiking sometimes.

• 59:36Caleb Hammer?

  There you go. Wonderful.

• 59:37Speaker 02

  That's not, that's a solo thing. There's no socializing there.

• 59:40Caleb Hammer?

  So, so just random people trying to get out in the date world?

• 59:43Speaker 02

  Um, yeah, I mean.

• 59:45Caleb Hammer?

  This is dating?

• 59:46Speaker 02

  No, that was just, that was really just hanging out with friends, I swear.

• 59:49Caleb Hammer?

  Okay, then if it's friend stuff, then hang out. Pre-game, you know, I don't know.

• 59:54Speaker 02

  That's true.

• 59:55Caleb Hammer?

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• 1:00:40Caleb Hammer?

  Usually rolling them over on your own is a complex process. I'm talking about calling your old employer or provider, faxing or notarizing documents. And lost checks in the mail, but there's so many reasons why it's worth doing, especially with capitalize. Ruling over means more control, better management, and keeping your retirement money where it belongs with you. So stop letting your money sit around. If you're ready to finally take control of any 401ks that went MIA, head to the link in the description below or go to hicapitalize.com/caleb. Don't wait because the sooner you take this step, the better. Thanks to capitalize for sponsoring today's video. Now let's jump back into it.

• 1:01:19Speaker 02

  I mean, I mean, it's what we kind of do sometimes, but it's like, wanted to get, I really never go out. Like you could look at my statements from, you know, past year and it's

• 1:01:28Caleb Hammer?

  All I care about is $189 spent that you had to pay off that could have gone towards something else. So I don't give a, that is what was here. The kid is gone. I can say

• 1:01:39Caleb Hammer?

  It's at 29.49% interest, but again, no interest is a drain. So that's okay. Penny Mac, so this is the house.

• 1:01:45Speaker 02

  This is the mortgage. Yep.

• 1:01:47Caleb Hammer?

  This is 267,796 dollars and 45 cents. Uh, 4.9% interest rate. Good. Thousand 207 dollar minimum monthly payment. Not bad at all. Not bad at all.

• 1:02:04Caleb Hammer?

  Um, okay. What is the value of the house today? Like just kind of, you know, just rough.

• 1:02:09Speaker 02

  Probably about the same exact

• 1:02:10Caleb Hammer?

  Would you buy this?

• 1:02:11Speaker 02

  Uh, I bought it last December.

• 1:02:13Caleb Hammer?

  I think it's probably a little down.

• 1:02:15Speaker 02

  It might be a little bit.

• 1:02:15Caleb Hammer?

  It's probably a little down.

• 1:02:17Speaker 02

  Yeah.

• 1:02:18Caleb Hammer?

  But, but, but, but, but are you saying you purchased a 0% down?

• 1:02:22Speaker 02

  Yes.

• 1:02:23Caleb Hammer?

  Gosh, I, I, I like the idea as a benefit, but again, it's not actually helps you get into the house.

• 1:02:31Speaker 02

  Yeah.

• 1:02:32Caleb Hammer?

  But when you're in a market right now where it's a bit weird, it's a bit slower and it's a bit down in Austin, you now have a negative equity position in your house.

• 1:02:40Speaker 02

  Oh, absolutely. But I, I like, I was really stressed when I was trying to

• 1:02:45Caleb Hammer?

  But you could have rented for cheaper.

• 1:02:47Speaker 02

  I like, there was nothing available at the time. I swear.

• 1:02:50Caleb Hammer?

  That's not true.

• 1:02:51Speaker 02

  Well, I mean, that was like in a good location, in a safe area and that wasn't a duplex. I hate duplexes.

• 1:02:58Caleb Hammer?

  There's like literally one neighborhood in Austin where people get hurt. Well, I don't know what you're talking about.

• 1:03:03Speaker 02

  The, the, where, I mean, yeah. So where I was looking now, it was, there was a lot of like sketchy areas. So.

• 1:03:10Caleb Hammer?

  Yeah.

• 1:03:11Speaker 02

  This house had a lot of incentives.

• 1:03:13Caleb Hammer?

  Georgetown is all old.

• 1:03:14Speaker 02

  It was like really nice incentives, new construction, came with a bunch of stuff, like home warranty situation.

• 1:03:21Caleb Hammer?

  I don't even think people in that town are able to walk down the stairs outside their house. It's a bunch of old, white, retired.

• 1:03:29Speaker 02

  Pretty much.

• 1:03:30Caleb Hammer?

  Like, just like, huh, nineteen fifties, like, yeah.

• 1:03:35Speaker 02

  Yeah, but still, I like it.

• 1:03:37Caleb Hammer?

  I, I know, but you would have been safe.

• 1:03:38Speaker 02

  And I did like, also, like, I got like the.

• 1:03:41Caleb Hammer?

  And no, the skin color doesn't have anything to do with the safety. I know a couple of people are gonna say that. I'm just saying it's just a very, very, very only white, old people town.

• 1:03:51Speaker 02

  Yeah, predominantly, but it's like.

• 1:03:53Caleb Hammer?

  I don't care. But this is like, you were afraid of safety from a bunch of old people? Or do they, do they all have machetes or swinging that?

• 1:04:03Speaker 02

  I mean.

• 1:04:03Caleb Hammer?

  I don't know what you're talking about.

• 1:04:04Speaker 02

  Some of the other areas where I ended up being, but like anyways.

• 1:04:07Caleb Hammer?

  Whatever.

• 1:04:07Speaker 02

  Okay, cool.

• 1:04:09Caleb Hammer?

  Now you get equity on a house.

• 1:04:10Speaker 02

  All right.

• 1:04:14Caleb Hammer?

  Any more debt?

• 1:04:15Speaker 02

  Uh, I don't think so. We get the blue cash, platinum, the Navy Federal, house, car. Uh, I think that's pretty much it, honestly.

• 1:04:25Caleb Hammer?

  Right down here, minimum monthly for the car.

• 1:04:29Speaker 02

  Six hundred thirty.

• 1:04:30Caleb Hammer?

  Six thirty-three, seventy, six thirty-eight, sir. Okay, four hundred and six dollars in this.

• 1:04:38Caleb Hammer?

  No, active checking is only a, so, so E, what, what is E? E has two hundred thirty-six, active checking has a hundred sixty-two, and savings has six dollars. What is E?

• 1:04:49Speaker 02

  It's just the E checking account. That's just what, the name of it. I don't know.

• 1:04:52Caleb Hammer?

  Yeah, I, but what do you use it for? You told me about all these different accounts.

• 1:04:56Speaker 02

  So the, so the E, the E account, that's like where like my mortgage and a lot of like my, um, the things I had like enrolled in bill pay, they come out of that account.

• 1:05:06Speaker 02

  And then they

• 1:05:07Caleb Hammer?

  Our producer's telling me to ask you about property taxes. What's going on?

• 1:05:10Speaker 02

  Oh, you know, I totally forgot to bring the property taxes. I have that

• 1:05:13Caleb Hammer?

  What? What do you mean? That should be

• 1:05:15Speaker 02

  So

• 1:05:16Caleb Hammer?

  Are you not building that up into your monthly payment?

• 1:05:19Speaker 02

  So here's what happened with the, yeah, in the escrow account. So I think the way that like the The mortgage people set it up. I don't really know how it works, honestly.

• 1:05:26Caleb Hammer?

  Set it for an annual payment?

• 1:05:28Speaker 02

  So they, they had it going, but it was like based off of last year's property taxes and the house didn't exist last year. So now they assessed my property and they assessed it for like, you know, what is valued at? And now my property taxes are going to be like $5,000 out of

• 1:05:44Caleb Hammer?

  Is it not spread out through the month, though?

• 1:05:47Speaker 02

  What do you, so

• 1:05:48Caleb Hammer?

  Into your escrow account, taxes and insurance.

• 1:05:50Speaker 02

  I checked my escrow account and it's like, it's less than a thousand dollars.

• 1:05:54Caleb Hammer?

  Okay. So you got a backfill. By when?

• 1:05:57Speaker 02

  Yeah, I, February is the first payment. So it could like, and it goes

• 1:06:00Caleb Hammer?

  First payment of

• 1:06:01Speaker 02

  So not first payment, but it's like the, your first chance to pay. If you pay in February, this is the money, that's just how much it costs.

• 1:06:06Caleb Hammer?

  How much do you owe?

• 1:06:08Speaker 02

  For, for the escrow?

• 1:06:09Caleb Hammer?

  How much will you have to have?

• 1:06:11Speaker 02

  It's like over $5,000.

• 1:06:13Caleb Hammer?

  You need an additional or after the one?

• 1:06:17Speaker 02

  Uh, no, that's just the total cost.

• 1:06:19Caleb Hammer?

  Okay. So 4,000 is what you need.

• 1:06:21Speaker 02

  Not including the escrow.

• 1:06:21Caleb Hammer?

  You need 4,000. Well, because your insurance payment will pay through that as well. I'm going to say 4,500. Jeez. The price is set you up for failure there like that.

• 1:06:33Speaker 02

  Yeah.

• 1:06:34Caleb Hammer?

  Ah, so Minecraft payments and Minecraft payments and Microsoft payments.

• 1:06:38Speaker 02

  I don't know how to turn that Minecraft payment off. I've tried so many times.

• 1:06:42Caleb Hammer?

  Challenge it. Tell it to stop charging from there. Talk to the bank. Go into the account and stop. Ask your kids where it is.

• 1:06:48Speaker 02

  They don't use it.

• 1:06:49Caleb Hammer?

  Okay, have, check your Apple subscriptions.

• 1:06:53Speaker 02

  What do you, no, it's not on there. I even went to like the Minecraft, Microsoft, like I have really, because this has been charging

• 1:07:00Caleb Hammer?

  Call the bank.

• 1:07:01Speaker 02

  Okay. Cause it's been literally charging my account for years.

• 1:07:03Caleb Hammer?

  Call the bank. Call the bank. Ask someone to block that.

• 1:07:07Speaker 02

  Okay, I will do that.

• 1:07:08Caleb Hammer?

  But then a Microsoft payment, 21 bucks.

• 1:07:11Speaker 02

  Uh, I don't know what that is. Honestly.

• 1:07:15Caleb Hammer?

  You, how'd you? Go through our budgeting class so you know how to look through your accounts.

• 1:07:19Speaker 02

  Okay.

• 1:07:20Caleb Hammer?

  And build a budget. Go through our debt class so you know how to look at your debt. What makes sense to pay off? How to utilize good debt? Cause I know you like debt, including mortgages. And then, and then eventually take our investing class. You get it all for free for being on the show. You guys all get a bundle together for 15% off. Like over 10,000 people have changed their lives taking it, but you get it for free. So go through that shit. And eventually put your kids through it as well.

• 1:07:41Speaker 02

  Oh, that's probably a good idea.

• 1:07:43Caleb Hammer?

  Yeah, eventually.

• 1:07:44Speaker 02

  Get the money smart.

• 1:07:45Caleb Hammer?

  Eventually, but in this account that you have, again, only $200 in here. We got more Amazon. And military custom, custom, custom, something. 66 bucks.

• 1:07:58Speaker 02

  Prob-

• 1:07:59Caleb Hammer?

  You went into a gas station, got some bullshit, something corpse.

• 1:08:03Speaker 02

  Oh, that's the, that's the gas station.

• 1:08:05Caleb Hammer?

  You have Rocket Money Premium and you don't budget. I'm not anti that. But you specifically told me you do not budget. Why do you have that?

• 1:08:15Speaker 02

  Look at it like once every two weeks.

• 1:08:18Caleb Hammer?

  What's the point of looking? You said you don't budget. What are you talking about? That sounds like budgeting potentially.

• 1:08:22Speaker 02

  I was trying to budget. I told you, I'm trying.

• 1:08:24Caleb Hammer?

  Oh, you are just, you do not know it. I'm so fuck.

• 1:08:28Speaker 02

  That was, that was a step in the right direction. I just didn't stick to it.

• 1:08:35Caleb Hammer?

  Yeah. And then what was, yeah, what was that military custom thing?

• 1:08:38Speaker 02

  Uh, I don't, that's honestly probably like, um, new uniforms or something.

• 1:08:45Caleb Hammer?

  The military uniform?

• 1:08:47Speaker 02

  Yeah.

• 1:08:47Caleb Hammer?

  You have to pay for that yourself?

• 1:08:48Speaker 02

  Oh, absolutely. You get, you get, so you get clothing allowance once a year. Um, but you still gotta go buy it.

• 1:08:55Caleb Hammer?

  Maybe the Pentagon should can pass their audit.

• 1:08:59Caleb Hammer?

  And we'd know if there's money. So you don't have to do that.

• 1:09:03Caleb Hammer?

  Synergy?

• 1:09:04Speaker 02

  Oh, that's the movie theater.

• 1:09:05Caleb Hammer?

  Uh, stopping at the store near the base and stopping at the store near the base, getting some bullshit, going in, getting a little shop stuff. Little num num or something, whatever you're doing. I don't know. What are you doing?

• 1:09:16Speaker 02

  Energy drinks.

• 1:09:17Caleb Hammer?

  Okay, go buy a ball, go to a Costco. They exist.

• 1:09:20Speaker 02

  I do do that, but it's so far away.

• 1:09:21Caleb Hammer?

  Well, do do that more.

• 1:09:22Speaker 02

  Okay.

• 1:09:23Caleb Hammer?

  Then even the grocery store is still more effective, price, price effective to buy in bulk. Uh, stop at the store, Jimmy John's, stop at the store, stop at the store, get your energy drinks, energy drinks and Oculus payment. Come on.

• 1:09:38Speaker 02

  I wanted a new game.

• 1:09:40Caleb Hammer?

  I get all these things. I want you to be able to do these things. It is not a magic world where you're entitled to do all these things. What? Do you disagree?

• 1:09:49Speaker 02

  No, I don't. I don't disagree.

• 1:09:51Caleb Hammer?

  Then what? Like you try to justify it by saying where it went. I get it. I like to do those things too. I want to do those things for them.

• 1:09:59Speaker 02

  Yeah.

• 1:09:59Caleb Hammer?

  You are not entitled to, nor are they. And that is hard to think about for a 10 and 12 year old. So I get it, but you are behind the retirement and you have horrible debt. You don't know how to have a conversation with your mom and you are taking care of two kids by yourself. So I don't give a if you wanted to buy a game.

• 1:10:20Speaker 02

  Yeah.

• 1:10:20Caleb Hammer?

  You are financially.

• 1:10:22Speaker 02

  I have a really, really, really hard times like saying no.

• 1:10:26Caleb Hammer?

  And talk to a damn therapist. You get them for free, right?

• 1:10:30Speaker 02

  Yeah, it's like a long way to get in there and I'm like, oh.

• 1:10:35Caleb Hammer?

  Panda Express gray in this account that has no money. You said you didn't do anything other than just pay for your mortgage and stuff. And every account we went through had purchase of some kind. So again, just like when we first started this conversation, you're giving me incorrect information as we learn to find, as we learn and find out.

• 1:10:54Speaker 02

  Generally, you know, that's.

• 1:10:55Caleb Hammer?

  That's not, we're not talking generally. I am talking about your actual life.

• 1:10:59Speaker 02

  Yeah. Well, that's what I would say. Like generally, like this is what I use this account for. Sometimes I switch it up. I'm like, oh, well, this one's a little too low, can't go, whatever.

• 1:11:07Caleb Hammer?

  You build the budget, have everything in one account. This makes no sense the way you're doing it. The way you're doing it makes no sense. It is over complicated and it's giving you a false sense of security. Stop. Don't say anything. You need the budget. If you build the budget, you know where your money's going, you know where your money went, you know where you need to course correct. Okay. If you're budgeting, you only need one checking account. There is no need for this. You are simply trying to either shortcut it or find an extra sense of security that does not exist. This is not helping you. This is not benefiting you. Learn to budget instead. Whether that's cash in envelopes, whether that's on a spreadsheet,

• 1:11:52Caleb Hammer?

  whether that is using an app. I don't care. Budget.

• 1:11:58Speaker 02

  Yep, I will, for sure.

• 1:12:01Caleb Hammer?

  Reminder with this, you have two kids, single mom, great, you do not have even close to an adequate emergency fund and you have a mortgage, you are putting your entire family in a dangerous position, yet you are allowing yourself to have a micro debt Christmas. This is not how we parent, this is not how we adult, this is not how we act mature, this is not how we live life if we are trying to have any sense of security for our family. If it was just you, sure, you could live, I would criticize it, but you could live the risk if you wanted to. You are depend, they are dependent on you. This is not acceptable. The Amazon purchases, the Oculus game, the different things, not calling the bank even for Minecraft.

• 1:12:44Caleb Hammer?

  That kind of stuff is no longer acceptable if we do not have an emergency fund, it is dangerous. Your house goes into foreclosure, you can't put food on the table, you don't pay utilities, it gets cut off. This is what happens when emergencies happen and you cannot take care of it.

• 1:12:59Speaker 02

  Yeah, I've never had an emergency fund my entire life and I've never known anybody that has had one.

• 1:13:03Caleb Hammer?

  Uh huh, cuz welcome to America and guess what, everyone's financially

• 1:13:08Speaker 02

  Oh, lovely.

• 1:13:09Caleb Hammer?

  So again, do not compare yourself to the average, that is what you do, it is obnoxious, that means nothing.

• 1:13:14Speaker 02

  Okay.

• 1:13:16Caleb Hammer?

  It's funny to like gift the older one, like a certification from Course Careers in Accounting and then they'll just fix your finances. That would be funny. Okay, you know, savings is nothing, so I will sit you down with a financial advisor, free session with the people over at Domain Money, they are who I use, it's one of the resources we have. Actually, everyone in the audience gets a free session, so it is actually something really beneficial. We negotiated that part for you guys, trust me, but take advantage of it, take advantage of everything we're gifting you here. You have an immense, immense level of financial immaturity for someone in their 30s and it is scary, it is terrifying, it's putting you in a dangerous position that you don't even realize the full consequences yet.

• 1:14:00Speaker 02

  It's been really tough.

• 1:14:00Caleb Hammer?

  You don't feel the full consequences of not having a retirement fund until you retire and that is one of the dangerous parts of about retirement funds. Because because like and I was like this too before I just got informed on all this stuff. It's like I didn't have retirement. I can catch up on retirement. That's what it is. No, it is time that you need early. And you don't realize you're not ready for retirement until it's time to retire and then you're not there yet. You don't get to see the consequences along the way. And that's why it's you need to become informed on this. Stuff and you need to start preparing yourself because you're really putting them in a dangerous position and that's the worst thing of all. So what hits our account on a monthly basis is six thousand four hundred twenty dollars.

• 1:14:40Caleb Hammer?

  Alright, your minimum monthly debt payments and unfortunately this includes mom's card. I'm glad you're gonna call her and at least figure that on the post show. Cause you need to confront that hard reality. I won't, well, if you allow me to, I'll participate, but either way, I'll at least at least let you. Deal with it, but minimum payment, actually, let's not include mortgage. Let's make that separate. Minimum payment, one thousand seven hundred sixty eight dollars fifty eight cents. She'll be anonymous, of course.

• 1:15:06Caleb Hammer?

  And your mortgage itself is one thousand two hundred seven dollars and twenty five cents. Uh, what are, what's your like water, your gas, your electric, internet, all that?

• 1:15:16Speaker 02

  Um, let's see. Water and trash are included are the same bill. So that's right around like ninety eight to a hundred dollars a month.

• 1:15:26Caleb Hammer?

  Do a hundred, okay.

• 1:15:29Speaker 02

  Electricity usually varies between eighty and a hundred and twenty.

• 1:15:32Caleb Hammer?

  I'll do a hundred.

• 1:15:34Speaker 02

  Uh, internet is a hundred dollars. Cell phone is a hundred dollars.

• 1:15:37Caleb Hammer?

  Cell phone's a hundred.

• 1:15:38Speaker 02

  Yes.

• 1:15:38Caleb Hammer?

  It's not the worst. I might look at doing helium for fifteen bucks a month. It's the same towers as T-Mobile. It's kind of like the, the, you know, the mints and all those things where they use the same towers. They just pay for access.

• 1:15:51Speaker 02

  Yeah, I just, um, when I got back to America last year, I got this and it's like on payment plan. So as soon as I get this paid off. Yeah.

• 1:15:59Caleb Hammer?

  Vroom, vroom, drive, drive gas. How much?

• 1:16:01Speaker 02

  Uh.

• 1:16:02Caleb Hammer?

  Monthly basis. Come on.

• 1:16:04Speaker 02

  Probably like two hundred dollars a month, honestly.

• 1:16:06Caleb Hammer?

  Yeah, we had two fifty one. I'm gonna say two fifty.

• 1:16:08Speaker 02

  Okay.

• 1:16:08Caleb Hammer?

  Car insurance?

• 1:16:11Speaker 02

  Hundred and like twenty, thirty, forty, ten, something like that.

• 1:16:16Caleb Hammer?

  Are you kidding me? How do you not know anything?

• 1:16:19Speaker 02

  That's what I'm saying. Like that's why I-

• 1:16:20Caleb Hammer?

  Give me, what, in between what?

• 1:16:23Speaker 02

  It's, it's probably like around like one twenty, one thirty.

• 1:16:26Caleb Hammer?

  One thirty, let's be safe.

• 1:16:28Speaker 02

  Okay.

• 1:16:28Caleb Hammer?

  TP fund, anything else for you and your kids needing to exist? This could be things for school, sports, activities, whatever.

• 1:16:33Speaker 02

  Yeah.

• 1:16:33Caleb Hammer?

  Makeup, nails, two hundred dollars, toilet paper, all that stuff, groceries.

• 1:16:38Speaker 02

  Uh, groceries, I would probably say about like four fifty a month.

• 1:16:44Speaker 02

  Kid stuff would just be his sport.

• 1:16:47Caleb Hammer?

  Yeah, there's certain situations we know off camera, so, but because of that, I can say confidently that you can do groceries for five hundred.

• 1:16:55Speaker 02

  Okay.

• 1:16:55Caleb Hammer?

  Okay, five hundred. Medical, everything's usually military, so you should be good there, right?

• 1:17:02Speaker 02

  Yeah.

• 1:17:02Caleb Hammer?

  But is there anything extra?

• 1:17:03Speaker 02

  No, no, no.

• 1:17:04Caleb Hammer?

  Gym?

• 1:17:05Speaker 02

  No.

• 1:17:06Caleb Hammer?

  Well, we had a gym, I had a hundred dollars.

• 1:17:08Speaker 02

  I don't know, I have a gym.

• 1:17:09Caleb Hammer?

  What? It was something on a, uh, uh, a card.

• 1:17:12Speaker 02

  Gym, that's gymnastics, that's the sport.

• 1:17:14Caleb Hammer?

  Oh, okay, you put, you put that in the TP fund. Subscriptions, none, do you have any pets?

• 1:17:19Speaker 02

  I have a cat.

• 1:17:22Caleb Hammer?

  Yeah, you do, I saw the cat food.

• 1:17:23Speaker 02

  Yes.

• 1:17:24Caleb Hammer?

  Okay, you have a cat. How much for cat food on a monthly basis?

• 1:17:28Speaker 02

  Probably like thirty, forty bucks. She only goes like one bag a month.

• 1:17:32Caleb Hammer?

  Do you have pet insurance?

• 1:17:33Speaker 02

  No.

• 1:17:34Caleb Hammer?

  Can I get pet insurance? How old's the cat?

• 1:17:35Speaker 02

  Uh, about a year.

• 1:17:37Caleb Hammer?

  Okay, forty dollars, pet insurance, get it. How are you gonna afford a surgery if something bad happens? You're not, and it's irresponsible for you to have it. You won't have the money, you don't have money, you have a thousand two hundred in emergency fund. Shut the [bleep]. You don't know the cost of things, you have no respect for the dollar.

• 1:17:51Speaker 02

  Oh, okay.

• 1:17:52Caleb Hammer?

  Okay, my gosh. Get it, don't be irresponsible, get pet insurance.

• 1:17:55Speaker 02

  I, okay.

• 1:17:56Caleb Hammer?

  If you have a pet and you can't afford to take care of it, you don't get to have the pet. Okay, anything else that needs to be in your budget that I do not have here?

• 1:18:02Speaker 02

  Oh, not that I can think of, honestly. That's pretty much it.

• 1:18:06Caleb Hammer?

  We should have space here, let me see.

• 1:18:10Caleb Hammer?

  I'm feeling we just overspend on things like mini Christmas.

• 1:18:14Speaker 02

  Dumb stuff, uh, you know, flights also occasionally.

• 1:18:18Caleb Hammer?

  No, not longer.

• 1:18:20Speaker 02

  For the kids, they're not my flights. They're for the kids so they can see parents.

• 1:18:24Caleb Hammer?

  Oh, how, okay, how often do you need to do that? Cause we should budget that.

• 1:18:26Speaker 02

  About four times a year.

• 1:18:28Caleb Hammer?

  Oh, okay. That's fine. You, you take from TV fund, you figure out what you need to do, you budget that.

• 1:18:34Speaker 02

  Yeah.

• 1:18:34Caleb Hammer?

  On a monthly basis, though.

• 1:18:38Caleb Hammer?

  Six, uh, so six thousand four hundred twenty to survive. Wonderful. Very good. And we need four thousand five hundred thirty five and eighty three cents to survive on a monthly basis. There's no reason to be in debt. One, and two, we could probably get out of it. So to give you some encouragement along the way, I'm going to give you two hundred dollars in the fun fund. You have fun with the kids, do as much as you want. Whether that be gifts going out to eat, two hundred dollars. But there you go. So this gives us an extra one thousand six hundred eighty four dollars and seventeen cents on a monthly basis.

• 1:19:10Caleb Hammer?

  To put, start putting towards debt. So the way we're gonna do this, you need to have a conversation with your mom, but obviously, blue cash is paid off month number one. We have a thousand dollars left and we put that towards the, we put that towards the Navy Federal, which was the mom card. And then you pay that off and you'll have six thousand dollars left on that, six thousand five hundred left on that card after that.

• 1:19:34Caleb Hammer?

  You pay that off in four months. So we're five months in, that card's paid off, blue cash is paid off, Navy Federal is paid off. This is when we start attacking the platinum card as much as we can. We also have some more money left on a monthly basis. Uh, we're, our, our entire BS fund, uh, that we, or we put towards the fun, fun fund of two hundred dollars. Now that is made back by no longer having the minimum payments on those two credit cards. So we're actually back to that one thousand eight hundred eighty four dollars that you can start putting towards debt. So the car will be about twenty six thousand dollars at that time, divide that by thousand eight hundred eighty four dollars. That should be paid off in about fourteen months. And that one's a bit longer, but you have a strong income. What's your, what's your face? What, what emotion am I picking up?

• 1:20:16Speaker 02

  So confused.

• 1:20:18Caleb Hammer?

  Oh.

• 1:20:19Speaker 02

  Yeah, that's okay though.

• 1:20:20Caleb Hammer?

  Well, we'll go through this and then I'll, I'll try to make it more simple, I guess. But at that time, we're nineteen months in or we're one and a half years ish.

• 1:20:31Speaker 02

  Okay.

• 1:20:32Caleb Hammer?

  Okay?

• 1:20:32Speaker 02

  That sounds.

• 1:20:33Caleb Hammer?

  And then you start attacking the car because it's ridiculous and it's beyond stupid. And it's probably about thirty two thousand, no, it's probably about thirty five thousand dollars. Might be thirty six thousand because honestly, it's all just going to be going towards interest at the beginning. But at that time, now, because we just paid off that massive credit card and we have an extra almost thousand dollars we get to have extra. So we're going to have about two thousand seven hundred dollars on a monthly basis to put towards this car. And that takes up a year. Takes a year. So two and a half years and we're bad debt free. Oh, you also have to do the property taxes before then. So you're going to prioritize that before the Navy Federal. You're going to do it after the blue cash.

• 1:21:15Caleb Hammer?

  And that'll take about three months, let's call it conservatively. So this is going to take, um, two years and three quarters and you're going to get a fully funded emergency fund. Let's call it three years and one quarter. Three years, one quarter, and you are at base level. And you're thirty five. So it shows how behind you are, but that's okay because you have a strong income, actually pretty limited expenses relatively. You just have to actually prioritize it and funnel it to the correct sources. And of course, as your pay goes up, if you pick up another job, if anything happens like that, you are and you're locked in on your mortgage, now your mortgage payment is going to go up a little once you start putting the proper amount aside for property taxes on a monthly basis. But either way, as the income goes up, that will hopefully get sped up to more like a three year process

• 1:21:59Caleb Hammer?

  total after fully funded emergency fund. But after that, you start contributing about twenty five percent to your retirement and we should be able to play some catch up there. Usually we do about twenty percent to retirement, but you're going to do twenty five because you're going to be starting quite delayed at about thirty five and only twenty percent of what you need to actually be retired at that time.

• 1:22:15Speaker 02

  Okay.

• 1:22:16Caleb Hammer?

  So.

• 1:22:18Speaker 02

  Sure. Yeah.

• 1:22:18Caleb Hammer?

  Okay.

• 1:22:19Speaker 02

  That sounds like a good plan.

• 1:22:20Caleb Hammer?

  Cool. So again, the way we're doing this is we're doing blue cash, property tax, Navy Federal with mom no longer spending on it, likely closing it before then, then the Platinum Card, then the car, then the fully funded emergency fund, and then 20% to 25% to retirement every year. Or every month if that makes it easier to you. Good? So that's the plan. And then you come on the financial audit follow-up channel throughout. And at that point, we're tracking your progress, we're answering any questions, we're keeping you motivated. You take advantage of the resources we provide you.

• 1:22:53Speaker 02

  Yeah.

• 1:22:53Caleb Hammer?

  And yeah, be smart. You overspent. So spending in a budget, zero out of 10. Debt?

• 1:23:00Caleb Hammer?

  You don't have collections. Property tax, we're not going to count that, but that credit card is horrible. Not when your mom to rack that up is bad. And then that car is absolutely ridiculous. I'm not going to give you better than a two out of 10. Emergency fund, you've started, you're about one out of 10 there. Cause you're a 10th of the way there. Retirement, again, we are behind it about 20% of needed, so two out of 10. Real estate, you are there, but you have a negative equity position. You put yourself in a slightly risky position, but at least you're in a position where you can gain equity once the market corrects at some point, which it traditionally does. It's going to be a four out of 10 there. So, we will call your mom in the post-show. And we need to confront some major realities there, and that's going to be huge.

• 1:23:41Caleb Hammer?

  So make sure to join us there, but your Hammer Financial Score is a two out of 10. And make sure to get all our education for 15% off. I'll see you guys in the post-show. Your mom is putting business expenses on your credit card, and then the reimbursement is going to cash in her pocket. That blew my mind when I heard that. You're gonna call her.

• 1:24:01Speaker 02

  Why do you need to use the new federal credit card?

• 1:24:05Speaker 03

  It's nice to have it because it is a nice card to have.

• 1:24:07Speaker 02

  You know, now it's at like seven grand and, you know, I'm making the minimum payments. You won't be able to spend on it anymore at all. To watch the financial audit post-show, click the join button below.