Financial Audit’s Most Vile Guest | Financial Audit

▶Instead of paying his lawyer and avoiding jail, I discover in the post show that he's blowing EVERYTHING on stupid PLAYING CARDS..... AGHHHHH, watch here: https://www.youtube.com/channel/UCLe_q9axMaeTbjN0hy1Z9xA/join ▶▶Bundle my budgeting, debt + investing program for *15%* *off* : https://calebhammer.com/classpack/ Try Rocket Money for free: https://RocketMoney.com/caleb Make SonderMind your mental health home in 2025. Sign up at: https://pages.sondermind.com/caleb/ ▶▶▶Watch this episode's *POST* *SHOW* + get *MORE* Financial Audit here: https://www.youtube.com/channel/UCLe_q9axMaeTbjN0hy1Z9xA/join ▶EDUCATION: 1) Bundle my budgeting, debt + investing program for *15%* *off* : https://calebhammer.com/classpack/ 2) The best budgeting program online: https://calebhammer.com/budget 3) Get my investing class and I’ll give you a $100 moomoo cash reward: https://calebhammer.com/investing 4) Win with GOOD debt and get out of BAD debt correctly, learn in my debt program: https://calebhammer.com/formula 5) Get your own free Hammer Financial Score: https://www.calebhammer.com _______________________ ▶RESOURCES 1) Checking & Savings: Get up to 4.60% APY, pay no account fees, and earn up to $300 when you sign up and set up direct deposits. Terms apply: https://creator.sofi.com/c/5535481/2068695/19219?adcampaignid=bank&adnetwork=brand *affiliate link 2) Important: The creator is a paid influencer and not affiliated with Moomoo Financial Inc. ("MFI") or its affiliates. Content outside of the moomoo ad has not been reviewed by MFI and reflects the influencer's own views. MFI does not endorse any strategies mentioned and is not responsible for the influencer's services. Click this link https://j.moomoo.com/Caleb to get up to 15 free stocks from moomoo U. S when you make a qualified deposit + earn 4.6% on uninvested cash + an additional 3.5% APY Coupon for 3 months for new users!! Terms & Conditions Apply 3) Get $20 from Acorns for free: sign up to get your bonus https://acorns.com/caleb 4) CourseCareers: Land a high-paying job with no experience or degree by going through an affordable online course: https://coursecareers.com/a/calebhammer 5) The credit building debit card: First 100,000 people to sign up for Fizz with code: HAMMER10 get $10: https://www.joinfizz.com/caleb (paid ad) 6) Online security: Protect your online privacy and security NOW and for free by following my link Aura: https://aura.com/hammer 7) Therapy: Make SonderMind your mental health home in 2025. Sign up at: https://pages.sondermind.com/caleb/ 8) Build you own stan store: https://www.stan.store/?ref=CalebHammer Learn more about your ad choices. Visit megaphone.fm/adchoices

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

• 0:00Caleb Hammer?

  To watch episodes of Financial Audit a week earlier, check us out on YouTube. We are in a payday loaner prison cycle for you, and that is terrifying.

• 0:07Speaker 01

  PI, resisting arrest, and then harassment of a peace officer.

• 0:10Caleb Hammer?

  You fought a fucking police officer.

• 0:12Speaker 01

  I did not fight a cop. I was trying not to go to jail.

• 0:15Caleb Hammer?

  What happened?

• 0:16Speaker 01

  I got in a physical altercation with a gentleman.

• 0:18Caleb Hammer?

  What did you do to him?

• 0:20Speaker 01

  I was the instigator, and he ran from me. And I chased him.

• 0:23Caleb Hammer?

  It wasn't him fighting. He was just in defense.

• 0:28Caleb 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.

• 0:36Speaker 01

  Hi, I'm Damon. I'm 28 years old. I'm from Austin, Texas, and this is the Financial Audit.

• 0:42Caleb Hammer?

  The Financial Audit. He's on The Financial Audit. What do you do in Austin for a living?

• 0:47Speaker 01

  I am a tattoo artist.

• 0:49Caleb Hammer?

  Things are currently making sense that I get that. Yep, that checks. How much money are you making on the tattoo life?

• 0:58Speaker 01

  It's kind of fickle. Right now, it's back and forth. Right now, I'm not making a whole lot. We're going through kind of a slow period.

• 1:04Caleb Hammer?

  You didn't tattoo the pedo stash on you, did you?

• 1:06Speaker 01

  No, that's natural.

• 1:07Caleb Hammer?

  That one's all natural. Okay, okay. What do you think you're making just on a monthly basis?

• 1:13Speaker 01

  Hmm, anywhere from 1,200 to 2,500 bucks currently.

• 1:19Caleb Hammer?

  That's a big range for, it's not a huge monetary range, but the thing is, 1,200 a month? I don't know how anyone would live in Austin or really anywhere on that. And then 24, it's hard. So it's not like, you know, 30,000 to 50,000 is a huge number difference, but lifestyle, it's going to be relatively similar. 1,200 to 2,500 is huge. What do you do in the 1,200? What do you, sorry, I don't want to get too excited too early. What do you do in the 1200 dollars a month? This is not a cheap town. And I know you work in like the most urban part. I don't know if you live in that part, but if you do, it'd be very expensive, so.

• 1:59Speaker 01

  I don't do anything when I don't make money. I sit at home.

• 2:02Caleb Hammer?

  Yeah, but you live, you eat, you utility, you transport, you exist like.

• 2:07Speaker 01

  Pretty much all my money goes to like getting back to the shop essentially because I live like forty five minutes away.

• 2:13Caleb Hammer?

  Really? Well, that might be the only way you can afford the roof over your head. I'll be honest. Unfortunately. How? What do you mean getting back and forth? So what are you? Are you bussing? Are we ubering? What? What? What does that mean?

• 2:27Speaker 01

  I'm traveling, but I spend a lot of time on thirty five, like sitting in traffic. So I burn through grass like crazy.

• 2:32Caleb Hammer?

  Also, you did just blow my producer minds because your income is not lining up with the numbers we had. The number we had for income coming in, maybe it was just a really good month, but we took that we projected it by twelve. We're like, this dude makes some solid income here. We were a little confused by the situation. Why is this substantially higher in terms of what came in? Oh, Christmas tattoos? Like, is that the the play?

• 2:55Speaker 01

  No, I have like a side job as well where I make extra money from that.

• 2:58Caleb Hammer?

  Oh, what's your other job?

• 2:59Speaker 01

  I do like custom metal fabrication, build like motorcycles.

• 3:02Caleb Hammer?

  You build motorcycles? What do you make with this job?

• 3:06Speaker 01

  Um, about three hundred dollars a week.

• 3:15Caleb Hammer?

  No, that doesn't line up at all. You're dramatically behind what came in. No, no, no, no, no, no, no. I'd say twenty five hundred on your high end. Plus that twelve hundred from the other job. Buddy, you're you're towards. You're basically at a half what actually came in.

• 3:32Speaker 01

  Okay.

• 3:32Caleb Hammer?

  Through your square.

• 3:33Speaker 01

  Here's what happens.

• 3:33Caleb Hammer?

  Deposit.

• 3:34Speaker 01

  The square deposit, I get paid a percentage at the tattoo shop and I run all my transactions like on my own. So the income that comes in through square, not all of it is me keeping it.

• 3:45Speaker 01

  I'm only keeping sixty percent of all of the square transactions.

• 3:47Caleb Hammer?

  But did it not hit its account? I guess we'll have to see that it not hit your account.

• 3:53Caleb Hammer?

  It went into your checking account.

• 3:54Speaker 01

  But then I pay out the shop.

• 3:55Caleb Hammer?

  Didn't you have to pay the shop?

• 3:57Speaker 01

  Yes.

• 3:57Caleb Hammer?

  It's a horrible business model, is it not?

• 3:59Speaker 01

  I mean, most shops operate that way unless I was paying.

• 4:02Caleb Hammer?

  Really?

• 4:03Speaker 01

  Yeah.

• 4:03Caleb Hammer?

  The shop doesn't take the money and then cut you the commission.

• 4:06Speaker 01

  No.

• 4:06Caleb Hammer?

  You take the money and cut the shop.

• 4:07Speaker 01

  And have to make sure I manage it correctly throughout the week, which.

• 4:10Caleb Hammer?

  Yeah, because again, horrible business model. Why the would anyone? Why would I trust you as the shop?

• 4:20Caleb Hammer?

  Doesn't make sense. Okay, so 7,000 came in, but you're saying you gave back anywhere from 5,500 to 6,500, no, sorry, 5,500, 4,500?

• 4:32Speaker 01

  Yeah, 40% of of all of the Square transactions go right back to the

• 4:35Caleb Hammer?

  No, but then your math still isn't working. If $7,000, no, no, no, no, no, no, no, no, no.

• 4:41Speaker 01

  There's no way. Well,

• 4:43Caleb Hammer?

  Yeah, 7,000 hours is square. So 7,000 dollars in square and 40% goes back. That means you're only giving back 2,800. Where's the rest?

• 4:53Speaker 01

  There was a Square loan added to my account as well.

• 4:58Caleb Hammer?

  Okay.

• 4:59Speaker 01

  That was like $4,900 that I'm currently paying back as well.

• 5:03Caleb Hammer?

  Then this is substantially more

• 5:08Caleb Hammer?

  than any of us thought going into this.

• 5:12Caleb Hammer?

  I mean, they're even whispering about it right now. You just blew their mind. They, we had no idea. Cause the way that it looked when it came in was this dude makes money. This dude's living. This dude can get out of this like that. Why you in film this episode? He can figure it out. This kid makes money. What are you taking a schoolware loan for? Are you getting new needles, new ink?

• 5:34Speaker 01

  Uh, no, I had to like catch up on payments. I was behind on my truck payment like three months.

• 5:42Caleb Hammer?

  Okay.

• 5:45Caleb Hammer?

  What is going on? Please give us some context.

• 5:49Speaker 01

  Currently.

• 5:50Caleb Hammer?

  I'm gonna need a lot more context than that, cause we're flying a little blind with what you got.

• 5:55Speaker 01

  I have, I guess a lot of like nuisance spending. I spend a lot of money at gas stations.

• 6:01Caleb Hammer?

  You just, you just told me you only, no, why lead us down the wrong path?

• 6:06Speaker 01

  I don't know. I'm ashamed. There's a lot of bad spending on there that like does not make me feel good about myself.

• 6:11Caleb Hammer?

  Wouldn't you just tell me that fact then, instead of trying to lie out of the gate? Uh, what?

• 6:19Speaker 01

  It was just easier. I totally forgot that you had access to all of these things.

• 6:23Caleb Hammer?

  And okay, you're not, you're not literally stupid. Why'd you bull me at the beginning? How about that? That's what I want to hear.

• 6:29Speaker 01

  It was just like one of those things, you know, I didn't want to, I didn't want to jump straight into the hellfire.

• 6:37Caleb Hammer?

  How can I trust anything you say for the rest of this conversation? How can the audience trust? How can the producers trust? If you tell me one thing, I'm not gonna know. Cause your spending to us, your spending, we had total income of that 7,044, which we know to be incorrect now, and we had 7,600 going out. It was relatively close for many people on this show. Who were, what's going out is usually like double or even three times on extreme cases. Yours was a little over, I was like, okay, let's make this to a budget, let's figure this out.

• 7:13Caleb Hammer?

  But our income situation is dramatically different than we thought. Okay, so you gave me 1,200, 1,200 to 2,500. What is a monthly average? Cause that, again, that range is just too substantial. What's 2,000?

• 7:26Speaker 01

  2,000 about would be like the, the closest.

• 7:30Caleb Hammer?

  Why do you make so little?

• 7:31Speaker 01

  Um, it's just a bad time of the year right now.

• 7:36Speaker 01

  So the tattoo shop is like considerably slower than it would be, let's say.

• 7:38Caleb Hammer?

  I asked monthly average, so you're giving your monthly average for right now.

• 7:43Speaker 01

  Monthly.

• 7:43Caleb Hammer?

  When's the good time?

• 7:44Speaker 01

  During the summer.

• 7:45Caleb Hammer?

  And then what's your monthly average then?

• 7:47Speaker 01

  4,000 to 4,500 bucks.

• 7:49Caleb Hammer?

  So I don't, okay. And what do you count as the summer? The literal three months of summer or?

• 7:55Speaker 01

  Um, pretty much anytime from like February to.

• 7:58Caleb Hammer?

  Yeah, February, my favorite summer month. What the are you talking about?

• 8:01Speaker 01

  It's just like when the kids are back in school, like after they get back from like winter break and stuff like that. All the college kids, they like funnel back into the city.

• 8:07Caleb Hammer?

  But they come down to fucking Party Street and?

• 8:10Speaker 01

  They do, and I tat, that's like most of my.

• 8:12Caleb Hammer?

  When they're all drunk?

• 8:13Speaker 01

  Not always. There's like a fine line.

• 8:18Caleb Hammer?

  So I'm gonna put you at.

• 8:24Caleb Hammer?

  What's your rent?

• 8:25Speaker 01

  400 bucks. I don't have to pay a whole lot.

• 8:27Caleb Hammer?

  Oh, there you go. That's how you're surviving. That's how you're surviving. Then why are we falling behind in payments? You just said you had to borrow a loan because you're falling behind in certain payments. If our rent is $400 and yes, we make a little lower income for the area, but okay. You combined a side hustle with it, that's a good start. Why are we falling behind on our payments when our cost of, our, our cost of living, our living expenses are so minimal?

• 8:53Speaker 01

  Um, the last few months I had like to pay for some legal fees. I had to like hire a pretty expensive lawyer.

• 8:58Caleb Hammer?

  Okay.

• 9:01Caleb Hammer?

  Okay, sure. What? What? What happened?

• 9:05Speaker 01

  Um, I got into some trouble downtown. I got myself into a situation and I had to hire a lawyer to help me out.

• 9:11Caleb Hammer?

  A good one. What? What guy? What? What happened?

• 9:14Speaker 01

  Uh, I was out drinking. I got in a physical altercation with a gentleman and...

• 9:20Caleb Hammer?

  Should win or lose?

• 9:21Speaker 01

  I won, but it put me in jail. So I guess I'm the real loser.

• 9:23Caleb Hammer?

  You? What did you do to him?

• 9:25Speaker 01

  Grab his dick and twist it! We just got in a fight.

• 9:28Caleb Hammer?

  Uh huh. Why were you the one jailed?

• 9:31Speaker 01

  Uh, because I was the instigator.

• 9:32Caleb Hammer?

  Oh, what? Okay, you're being very vague about this.

• 9:37Caleb Hammer?

  Why'd you fight him?

• 9:38Speaker 01

  I was at a comedy club with the girl that I was seeing and she took me there, um, specifically to like embarrass this guy or like make him upset. And it definitely made him upset.

• 9:47Caleb Hammer?

  He was in the crowd?

• 9:48Speaker 01

  Uh, he was like the manager of the place.

• 9:50Caleb Hammer?

  And it embarrassed him that you were there?

• 9:52Speaker 01

  Yeah.

• 9:53Caleb Hammer?

  Because?

• 9:53Speaker 01

  He was jealous.

• 9:54Caleb Hammer?

  He's, he's her ex?

• 9:55Speaker 01

  Yeah.

• 9:56Caleb Hammer?

  Very toxic of her? Okay?

• 9:58Speaker 01

  I, yeah, I had no idea. It caused quite a scene.

• 10:00Caleb Hammer?

  The girl out there?

• 10:01Speaker 01

  No, not that girl.

• 10:02Caleb Hammer?

  How about you go through girls? Okay. Good for you. Maybe. I think. I don't know. Okay. And then he got a little upset and you're like... Ah, and you pushed him?

• 10:14Speaker 01

  Yes. And then it started off inside the place and then he ran from me. And I chased him.

• 10:19Caleb Hammer?

  How, how, how far did it go?

• 10:21Speaker 01

  Outside into the street.

• 10:22Caleb Hammer?

  No, no, that distance, the fight, the fucking fight.

• 10:27Speaker 01

  Um, it, it was a lot of him trying to defend himself.

• 10:31Caleb Hammer?

  So, so it was just you? It was just you? It wasn't him fighting? He was just in defense?

• 10:36Speaker 01

  He started to fight back.

• 10:38Caleb Hammer?

  When he had no other choice?

• 10:39Speaker 01

  By the way.

• 10:40Caleb Hammer?

  Then why'd you do it?

• 10:41Speaker 01

  It was, I was drinking. I don't drink.

• 10:44Caleb Hammer?

  How much drinking?

• 10:45Speaker 01

  A lot.

• 10:46Caleb Hammer?

  Why? Why? Like, why would you go? Okay. Why would you put yourself in this situation then if you were in an uncontrolled? You get violent when you get drunk?

• 10:56Speaker 01

  I do, that's why I don't drink.

• 10:58Caleb Hammer?

  So you fought the dude, you got arrested, you're in the jail, now you had to hire a lawyer.

• 11:02Speaker 01

  Yeah.

• 11:03Caleb Hammer?

  What is the legal blah blah blah? Cause that's the big question because obviously if that puts you behind on payments for things, what, what happened? What was the legal fees? What was the lawyer for? What'd you do?

• 11:18Speaker 01

  It was um, PI resisting arrest and then harassment of a peace officer. So it was like three different charges.

• 11:25Caleb Hammer?

  Okay, so you fought a fucking police officer?

• 11:26Speaker 01

  I did not fight a cop.

• 11:28Caleb Hammer?

  What, what'd you do?

• 11:29Speaker 01

  I was trying not to go to jail. I was in a drunken stupor.

• 11:32Caleb Hammer?

  You didn't just tell me what the happened?

• 11:34Speaker 01

  Yeah.

• 11:35Caleb Hammer?

  What happened?

• 11:36Speaker 01

  I fought this guy, chased him outside of the place. Um, the cops got involved. I was not trying to get put into the back of a cop car and...

• 11:44Caleb Hammer?

  So you did what?

• 11:45Speaker 01

  I tried to like, get away from him.

• 11:48Caleb Hammer?

  Okay.

• 11:48Speaker 01

  And um, I guess in the process, um,

• 11:53Speaker 01

  I don't remember every detail.

• 11:55Caleb Hammer?

  Well, I mean, at least it doesn't hurt your income situation, because I wouldn't trust getting a tattoo unless the person was a convicted felon. Now, you hired the lawyer and okay, so those are formal charges?

• 12:09Speaker 01

  Mm-hmm.

• 12:10Caleb Hammer?

  Where are we now?

• 12:12Speaker 01

  Um, I'm current, one of them was dismissed. I'm currently fighting the other two, the uh, public intoxication.

• 12:17Caleb Hammer?

  That one was dismissed? Weren't you publicly intoxicated?

• 12:20Speaker 01

  I was. I got a good lawyer.

• 12:24Speaker 01

  Which is why the expense was so high.

• 12:25Caleb Hammer?

  How do you, okay, how much did you spend?

• 12:27Speaker 01

  Uh, sixteen thousand dollars is what he's charging me.

• 12:30Caleb Hammer?

  Whoa buddy, for your income, that's crazy, but I get it, I get it. You're trying to save yourself from legal shit. Um, um, I'm a, I'm a, I'm a, I'm a, okay, and how much have you given him so far?

• 12:59Speaker 01

  Forty five hundred bucks?

• 13:00Caleb Hammer?

  Oh.

• 13:00Speaker 01

  Five thousand dollars.

• 13:03Caleb Hammer?

  When is the rest owed?

• 13:05Speaker 01

  Um, I owe him, actually currently, I owe him another four hundred dollars.

• 13:08Caleb Hammer?

  Well, here's the debt. What, what, what, what, how much?

• 13:10Speaker 01

  I owe him four hundred dollars for this monthly payment. And then on the twenty six.

• 13:14Caleb Hammer?

  So he has you on a monthly payment?

• 13:15Speaker 01

  Yeah.

• 13:16Caleb Hammer?

  A monthly payment for the full twelve?

• 13:17Speaker 01

  No, um, two different payments of four hundred dollars each.

• 13:23Speaker 01

  One on the first and then another one on the twenty sixth.

• 13:25Caleb Hammer?

  Oh. But then after the twenty sixth, the first comes so quick.

• 13:29Speaker 01

  Right.

• 13:31Caleb Hammer?

  So eight hundred dollars a month until the full twelve is paid off?

• 13:33Speaker 01

  Yeah.

• 13:34Caleb Hammer?

  But you already put five towards the twelve?

• 13:35Speaker 01

  Yes, it was sixteen, not twelve.

• 13:38Caleb Hammer?

  It's eleven thousand. Ah, okay, I didn't even know this. Ah, shit, okay. Dude, this is crazy, man. Well, you're a unique one. If that makes you feel special or good. I don't know, I looked over there thinking you were lighting a joint, so I'm glad it wasn't.

• 13:59Caleb Hammer?

  Pipe or something like, I don't know what you do. Do you do?

• 14:02Speaker 01

  I don't.

• 14:02Caleb Hammer?

  Okay.

• 14:03Speaker 01

  I promise.

• 14:04Caleb Hammer?

  Are you sure?

• 14:04Speaker 01

  I swear.

• 14:05Caleb Hammer?

  Okay, eleven thousand dollars, I don't wanna, I don't know, I'm judging you a little, no, it's okay. Lawyer eleven thousand dollars and it's eight hundred dollars a month? So on your loan months, which is right now, according to you, twelve hundred dollars comes in. Then four hundred dollars of rent, that's, that's it. That's it.

• 14:23Speaker 01

  Yeah.

• 14:24Caleb Hammer?

  That's all your money.

• 14:25Speaker 01

  That's why I ended up getting so far behind and had to start taking out loans to pay off things.

• 14:29Caleb Hammer?

  Oh, so now we're in a cycle, but you're not even close, cuz how, I cut.

• 14:35Caleb Hammer?

  How, what was your idea and your plan to pay off this eleven, this, well, actually just eight hundred dollars a month? What was your plan going forward or borrowing for the next year, essentially?

• 14:44Speaker 01

  Yeah, I had no plan. My initial plan was just to give him the money upfront to be able to get him on my team.

• 14:49Caleb Hammer?

  What happens if you don't pay him? Well, how would you have done? Okay, sorry, go ahead.

• 14:52Speaker 01

  And then just figure it out after that point. It was just a wing in it. Hail Mary.

• 14:57Caleb Hammer?

  How are you gonna give him all that money upfront?

• 14:59Speaker 01

  How?

• 15:00Caleb Hammer?

  Yeah.

• 15:00Speaker 01

  I sold a couple of things.

• 15:01Caleb Hammer?

  Then why didn't you give him all the money upfront?

• 15:03Speaker 01

  Cuz I didn't have all the money upfront. I had just enough for the original down payment.

• 15:07Caleb Hammer?

  Down payment. What happens if you don't? I don't think a lawyer is the person I, especially a good lawyer is the person I'm trying to fuck over. I didn't even find a lawyer.

• 15:16Speaker 01

  Cool.

• 15:17Caleb Hammer?

  Okay.

• 15:18Speaker 01

  Yeah.

• 15:19Caleb Hammer?

  All right, let's talk about a big money leak that most of us have subscriptions. I bet you have a couple you forgot about, right? That's exactly what happened to me. Like a meditation app I used once, ended up paying for four months, but yeah, now my budget's not happy. But getting a hold on subscriptions and getting your budget doesn't have to be a hassle. Thanks to today's sponsor Rocket Money. With just a few taps, Rocket Money helped me cancel those subscriptions that I was ready to say goodbye to. And it doesn't stop there. Rocket Money also scans your bills and works to negotiate lower rates for things like internet or phone services. No awkward calls, just more money in your pocket. Plus, if you're trying to budget smarter, Rocket Money's got you covered. It tracks your spending, helps you set goals, and even alerts you before upcoming charges.

• 16:03Caleb Hammer?

  So no more surprise overdrafts. If I needed some assistance getting my budget on track when I was getting started, Rocket Money would have been a lifesaver. So stop wasting money on to kiddos and start putting it towards your future. Go to rocketmoney.com/caleb or click the link in the description to join 5 million members and try it for free. That's rocketmoney.com/caleb or head to the link below to check out Rocket Money and get the reins on your finances today. So what happens if you don't pay because you're behind on the other payments? But what if your debt gets such a situation where you're not getting qualified for these debts anymore? Well, you'll probably go to a payday, but even if you don't get payday, then all of a sudden you can't make the payments towards him. And you have to choose between truck and repo and paying him. What happens if you can't pay lawyer?

• 16:44Speaker 01

  I lose representation.

• 16:46Caleb Hammer?

  Well, we expect these cases to go, whoa, whoa, whoa. So it's, oh, okay. So you probably had a $16,000 retainer.

• 16:54Speaker 01

  Right.

• 16:55Caleb Hammer?

  Okay. When does he expect that $16,000 retainer to cover through hours wise?

• 17:01Speaker 01

  Um, I'd have to look at our agreement, our written agreement, because I'm not completely.

• 17:04Caleb Hammer?

  No, no, no. Well, I don't know if the, I don't know if his expectations in the written agreement. I mean, you probably have any, how many? You probably have the cost per hour, yes. And then when you finish your retainer, you have to fill it back up again. But when does he expect that retainer to need to be filled again? Do you know? Because what could happen is that all of a sudden you get this debt down to 8,000 and all of a sudden $16,000 could get added to it. Or else you lose representation again.

• 17:35Caleb Hammer?

  Because you're not just paying for the time that's happening right now. You're paying for the, you're paying a minimum to payment for the retainer of the time that's already happening now. But the moment that time's done, regardless of if that past one's paid off, he'll need to refill that retainer again. And that could get added to the debt. This could go to 20,000. This could go to 30,000.

• 17:52Speaker 01

  I didn't know that.

• 17:54Caleb Hammer?

  Well, I'm assuming, this is my assumption. I'm not 100% sure. I wasn't there. But that's generally how lawyers work. I have many lawyers that work for me. I mean, this, that's how it works.

• 18:03Speaker 01

  Yeah. I mean, I, I don't remember everything that we had like discussed. This happened in, back in October. And that's when I hired him.

• 18:11Speaker 01

  I would have to go back in and look at our paperwork.

• 18:14Caleb Hammer?

  October and only one of the three is this, uh, finished so far. Where, where are we in the progress of all the other ones? Dude, this is wild.

• 18:22Speaker 01

  They've been, uh, they've been pushed back. Um, each court date that I have been like given to me gets pushed back like a month every time a new one is issued. Um, so right now I'm just.

• 18:30Caleb Hammer?

  Uh, what do you mean new one gets issued?

• 18:31Speaker 01

  They'll, they'll give you a court date and then my lawyer will kind of go in on that date and discuss what's going to happen. And then they'll just push it back. County is like really backed up with cases.

• 18:40Caleb Hammer?

  But that's just more hours for you billed. I mean, your retainer is gonna

• 18:46Caleb Hammer?

  probably have to get re-upped before this thing concludes.

• 18:48Speaker 01

  He told me it'd probably be a year before we even went to court for the next two charges.

• 18:52Caleb Hammer?

  But he doesn't know how long until his hours. How do you communicate with him?

• 18:58Speaker 01

  Email.

• 18:59Caleb Hammer?

  Is he fast?

• 19:00Speaker 01

  Kind of. It's like a 48 hour response.

• 19:03Caleb Hammer?

  If you email them now, we wouldn't hear by the end of this episode.

• 19:06Speaker 01

  Probably not.

• 19:07Caleb Hammer?

  Okay.

• 19:07Speaker 01

  I could try it.

• 19:08Caleb Hammer?

  You can try it. Ask them where you are. How, uh, uh, how many hours your 16,000 hours covers and where you are in those hours.

• 19:15Speaker 01

  Okay.

• 19:15Caleb Hammer?

  Built. Yeah. Can you shoot that email real quick? Uh, I was just so curious because this, this could be a never ending cycle of debt and we, that's going to determine the whole strategy behind everything we talk about here. And your income situation right now is terrifying. How much did you say comes in from the car stuff that you do? The bike stuff?

• 19:32Speaker 01

  $300 a week.

• 19:33Caleb Hammer?

  But that's self-employed, right?

• 19:35Speaker 01

  Yeah.

• 19:35Caleb Hammer?

  You set any money aside for taxes?

• 19:37Speaker 01

  No.

• 19:37Caleb Hammer?

  Financial hot bingo. Here we go.

• 19:39Speaker 01

  Four years.

• 19:41Caleb Hammer?

  Alright, so we need a fucking tax lawyer now and a CPA and good.

• 19:48Caleb Hammer?

  You know, the crazy thing is the IRS knows that they just haven't done anything.

• 19:52Speaker 01

  Yeah, I haven't got anything from them yet.

• 19:53Caleb Hammer?

  Yeah, you're on the, you're low on the priority list.

• 19:58Caleb Hammer?

  Four years? Any taxes? So you haven't filed taxes in four years?

• 20:02Speaker 01

  Not since 2020. So I guess.

• 20:04Caleb Hammer?

  Why?

• 20:05Speaker 01

  I've been scared to like, know how much money I had.

• 20:07Caleb Hammer?

  Yeah, what about the first year when you just didn't do it?

• 20:11Speaker 01

  It was just a cumulative. I did it the first two years because I was lazy and then the third year came around.

• 20:18Speaker 01

  And I didn't want to like, see how much I actually owe them. So I just avoided it. And I've been avoiding it ever since.

• 20:25Caleb Hammer?

  And when they garnish your income, which it comes to square, well, I mean, they can probably do anything. They're so powerful. I don't know how it happens. I know it's much easier through W2s.

• 20:39Caleb Hammer?

  How are you paid with the bike stuff? How are you paid through the bike stuff?

• 20:43Speaker 01

  Cash.

• 20:44Caleb Hammer?

  Yeah, okay. So that's honestly, you're probably not even claiming that. So they probably don't even recognize that part of your income, honestly. It's you're just no way you're reporting it. You're not even filing your taxes. 2020 was your last or you haven't?

• 20:56Speaker 01

  I'm sorry?

• 20:57Caleb Hammer?

  2020 was your last or 19 was your last?

• 20:58Speaker 01

  2020 was my last and I did it so I could get unemployment benefits.

• 21:02Caleb Hammer?

  Of course you did. Okay, so there's your first debt, $11,000, $800 a month. However, what we don't first, why did he set up that payment structure to be first of the month and end of the month? Cause then the first of the month comes so quick. Why is it not like 115, 115, 115 over and over again?

• 21:16Speaker 01

  I have no idea, but it screws me every time it happens.

• 21:19Caleb Hammer?

  Yeah.

• 21:20Speaker 01

  It's like really close together.

• 21:24Caleb Hammer?

  You ever missed one?

• 21:25Speaker 01

  Uh, this past one. But I'm waiting until Friday. I'm gonna pay him.

• 21:31Caleb Hammer?

  When was the last one on the first?

• 21:33Speaker 01

  Yeah. Wait, no, we're past the first.

• 21:35Caleb Hammer?

  That's the one you missed?

• 21:36Speaker 01

  Yeah.

• 21:37Caleb Hammer?

  You've been past due for over a week?

• 21:39Speaker 01

  Right.

• 21:41Caleb Hammer?

  Well, yeah, we're not gonna hear back from him by the end of this episode.

• 21:43Speaker 01

  I talked to him two days ago.

• 21:45Caleb Hammer?

  And?

• 21:46Speaker 01

  He seemed positive.

• 21:47Caleb Hammer?

  Did he know you owed him?

• 21:48Speaker 01

  I told him I would pay him on Friday.

• 21:50Caleb Hammer?

  And he said?

• 21:50Speaker 01

  He said, okay.

• 21:52Caleb Hammer?

  Oh.

• 21:56Caleb Hammer?

  I've seen people come on with payday loans. You know, based on this conversation that that is where you're headed.

• 22:04Speaker 01

  What is a payday loan?

• 22:05Caleb Hammer?

  Never mind. It's nothing. It doesn't exist.

• 22:09Speaker 01

  Okay, is it like the, I use like a cash advance apps as well.

• 22:13Caleb Hammer?

  Okay, it's the worst versions of those. You're doing that right now?

• 22:16Speaker 01

  Yes.

• 22:17Caleb Hammer?

  Not surprised. See, this is what scares me. Okay, a payday loan place. I mean, I tell you the bads, so you know not to do it, but essentially it's a place you walk into. And you're like, hey, I want to get f***ing railed in the ass today. Hey, yo, what the f***?

• 22:31Caleb Hammer?

  And then they do with a like multi thousand percent interest rate on a loan. And it's like, you know, almost sometimes weekly payments, bi-weekly payments, and it's like balloons. It's crazy. You borrow like a thousand bucks. You pay back like five thousand bucks. And over a course of a month, this is that instant. It's just the most predatory shit. But when you're desperate for money and no one else will lend to you, that's where people go before they go to a f***ing loan shark. Luckily, we haven't had anyone with a loan shark. I could see you going that direction.

• 22:58Speaker 01

  I don't have one yet.

• 22:59Caleb Hammer?

  Yeah, it's don't yet. Let's not yet.

• 23:03Caleb Hammer?

  You didn't know about those places?

• 23:04Speaker 01

  No.

• 23:05Caleb Hammer?

  Really?

• 23:06Speaker 01

  Yeah.

• 23:06Caleb Hammer?

  Don't take it, man. But there's unfortunately, that is where you're headed, though. Where you're not paying your lawyer and now so you're gonna lose a legal thing, then you're gonna wind up in jail or fines or whatever it might be. What class felony are these things, if any?

• 23:18Speaker 01

  It's a, I think a class, it's third degree. So it's a lower on the scale.

• 23:29Caleb Hammer?

  Class three does not exist. Oh, we got third degree felony. Two to 10 years. Oh, in Texas state prisons. It's like the worst prisons in the country. No air conditioning, it gets to 110 degrees in the summer. That's where you're headed. So again, I just wanna, can I whiteboard this? I, I, I need to visualize this. This is crazy.

• 23:57Caleb Hammer?

  Okay.

• 24:02Caleb Hammer?

  Jail.

• 24:07Caleb Hammer?

  Not jail, prison, really, but jail, we'll call it, because it's a shorter word, jail. This is on the screen, here you guys go, okay. Jail, but in order to avoid jail, we are.

• 24:22Caleb Hammer?

  Lawyer. Okay, so far, right?

• 24:27Speaker 01

  Right.

• 24:29Caleb Hammer?

  So if you, to, how this is gonna work is if you fail this one, you get this one. Okay, but in order to do lawyer.

• 24:38Caleb Hammer?

  Right now, you're borrowing.

• 24:45Caleb Hammer?

  And all of a sudden, you fail to borrow, you fail to pay lawyer, you end up in jail. But you're probably reaching the end of anyone who will give you any money, so that comes to pay day. And this is why I think you're ending up there, unfortunately, because again, in the most extreme situation. We do not want to end up here, you don't want to end up here, no one wants to end up there, so I get it. You did some crazy shit, but you have to hit this in order to get that, but in order to get that, you have to do this. And now you're about to fail this, which leads to this. That scares me, so you're facing a situation where it's almost like payday loan or prison.

• 25:27Speaker 01

  Yeah, pretty much.

• 25:27Caleb Hammer?

  We're in a payday loan or prison cycle for you, and that is terrifying.

• 25:32Speaker 01

  Oh, it's scary, dude.

• 25:33Caleb Hammer?

  Scary, then what is your plan? I would love to know. Oh, sorry, I wasn't meant to.

• 25:43Caleb Hammer?

  What was your plan? What was your plan? You, you've thought, you're coming on here hopefully to get a plan, but you've thought, you've thought about this. You've obviously thought about this, how did you think this was gonna transpire over this next year? What was your idea, your plan, your concept, your anything?

• 25:59Speaker 01

  I was just hoping that I could wing it through slow season and then get to busy season and then use my income from that time to like pay back.

• 26:06Caleb Hammer?

  Busy season, summer in February.

• 26:08Speaker 01

  Yeah, summer in February.

• 26:09Caleb Hammer?

  Okay, so are you serious? It actually doubles next month?

• 26:11Speaker 01

  Yeah, as soon as people start getting their income tax money, my income skyrockets.

• 26:15Caleb Hammer?

  Tax money, you're talking about a tax return?

• 26:17Speaker 01

  Yeah.

• 26:20Caleb Hammer?

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

• 27:04Caleb Hammer?

  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. So right now, we're trying to avoid jail for those crimes. And hopefully, we avoid, yeah, in Texas, examples of third degree felonies in Texas, intoxication assault, assault of a public servant. The two that you're still charged with. All right, let's start going through these, these documents here. Because something tells me all of a sudden, there's

• 27:49Caleb Hammer?

  more hidden loans than I thought, because there wasn't that much debt. But now we owe this $11,000 debt that's going to go to 20 to 30 to 40 because you are not willing to go to jail. And in order to borrow for those things, like on the little thing we just did, you're going to take up payee. Okay, um, I don't know where you assess your finances, zero to 10, zero being the absolute worst, 10 being the absolute best. Where do you think you are today?

• 28:15Speaker 01

  Like a two.

• 28:16Caleb Hammer?

  Okay. Honestly, maybe. I don't know. This is going to be such a discovery thing. I'm basically a lawyer going through discovery right now with apparently.

• 28:29Caleb Hammer?

  The unknowns of you. If you guys want your hammer financial score, it's free. Link in the description below. See where you are in this world. And if you want to come on the show, you can come down here, hang out with us in Austin, Texas. I'll beat you up a bit. It'll be a fun time, but you'll spend the day Lindsay, Jake, myself. It's a good time. You having a good time?

• 28:47Speaker 01

  I'm having a great time.

• 28:47Caleb Hammer?

  I know you're from Austin, but thanks for coming in. Thanks for going through all the onboarding videos and all that stuff. We make your guys' lives easy. So go to Calebhammer.com/apply. We'd be happy to have you on the show. It's a good time.

• 29:01Caleb Hammer?

  Especially if you're apparently going to go to prison, because that's crazy.

• 29:05Speaker 01

  Fingers crossed.

• 29:06Caleb Hammer?

  But you don't.

• 29:06Speaker 01

  Yeah, right.

• 29:09Caleb Hammer?

  All right, here, here, here's something. This is under a business, so this must be for your bike company, your bike.

• 29:18Speaker 01

  Which one is this?

• 29:19Caleb Hammer?

  Uh, I just have a loan agreement page. I don't have the name of the loan. There's no like title.

• 29:29Caleb Hammer?

  I, you tell me.

• 29:30Speaker 01

  That's for my truck.

• 29:31Caleb Hammer?

  I don't know. Uh, tell me what has, oh my fuck, wait a second.

• 29:39Caleb Hammer?

  Okay, what loan matures in 2026 in the summer? Year and a half from now.

• 29:43Speaker 01

  My truck.

• 29:45Caleb Hammer?

  What's your truck?

• 29:47Speaker 01

  Like the, the total that I'm paying?

• 29:48Caleb Hammer?

  Nah, what's your truck? What kind of truck you got?

• 29:50Speaker 01

  2016 Ram 1500.

• 29:52Caleb Hammer?

  You gotta haul around all those.

• 29:54Speaker 01

  It's not even running.

• 29:54Caleb Hammer?

  Syringes?

• 29:55Speaker 01

  It's currently broken down, like beyond repair.

• 29:59Caleb Hammer?

  We have a 13% interest rate on a car that is sitting down? Why haven't you scrapped it and just thrown the money towards it and tried to pay it off as much as possible? Whoa, whoa, whoa, whoa, whoa, we're broken down. We're broke it down. Nothing that insurance will cover or broken down?

• 30:12Speaker 01

  I don't have insurance.

• 30:15Caleb Hammer?

  You don't do anything right. You don't do society. You don't do society.

• 30:21Speaker 01

  I don't.

• 30:21Caleb Hammer?

  How is that? Obviously, that's not working. So maybe you should join us.

• 30:26Speaker 01

  I'm, I'm hoping to get some introduction to it.

• 30:28Caleb Hammer?

  Well, that's hopefully this intent, but this is crazy. No insurance? How long did you not have insurance? When did this break? What happened?

• 30:35Speaker 01

  I stopped paying insurance at the beginning of October. Um, and then I had the.

• 30:40Caleb Hammer?

  That was only a couple of months ago.

• 30:42Speaker 01

  Right. And then my transmission went out of my truck.

• 30:44Caleb Hammer?

  Okay. Well, I mean.

• 30:47Speaker 01

  And the cost of repair is worth more than the the truck is because it's beat to shit.

• 30:50Caleb Hammer?

  Oh, what's the cost of repair?

• 30:53Speaker 01

  Probably like $6,000.

• 30:54Caleb Hammer?

  But you owe 5,000.

• 30:57Speaker 01

  Right.

• 30:58Caleb Hammer?

  Oh, specifically 4,899, 889, 4,889. And it's a what?

• 31:08Speaker 01

  It's a Ford. It's a Ram 1500.

• 31:10Caleb Hammer?

  Ram 1500. So we can go make some tattoos. With a minimum payment of?

• 31:17Speaker 01

  600 bucks.

• 31:18Caleb Hammer?

  600 bucks.

• 31:22Caleb Hammer?

  No.

• 31:23Speaker 01

  Five?

• 31:25Speaker 01

  90 what?

• 31:26Caleb Hammer?

  You don't know anything. It's 271.

• 31:28Speaker 01

  No, that's not what I paid month. If that if this if it's saying 271, that's my motorcycle payment then, which would be crazy because I don't owe I owe way more money on that than $4,000. I pay $600 a month to Capital One for my vehicle.

• 31:39Caleb Hammer?

  This isn't Capital One. The next one's Capital One.

• 31:44Speaker 01

  Oh, then this is a motorcycle payment. The 271.

• 31:47Caleb Hammer?

  What's your motorcycle?

• 31:49Speaker 01

  Uh, it's a 2006 Harley, also not running.

• 31:52Caleb Hammer?

  And like I said, this was under a business name, i.e. probably your motorcycle business.

• 31:57Speaker 01

  Okay.

• 31:59Caleb Hammer?

  Okay, you owe 4,889 on your motorcycle at 13% interest rounded.

• 32:04Speaker 01

  I feel like that's not right.

• 32:06Caleb Hammer?

  That's right here unless you have another third vehicle that I don't know about?

• 32:09Speaker 01

  No, no, I just have the uh, I I'm really behind on my Harley payment, so I haven't been able to like even log into the portal to see like where my loan is standing.

• 32:17Caleb Hammer?

  That's not how that works unless it's been sent to collection, so it wouldn't. No, I don't think it would have been. Well, this isn't the Harley, is it?

• 32:27Speaker 01

  It can't be.

• 32:28Caleb Hammer?

  No, no, no, no, no. Is your bike the Harley?

• 32:29Speaker 01

  Yeah.

• 32:30Caleb Hammer?

  You don't have any other bike?

• 32:31Speaker 01

  No, I mean, I do, but they're not like in they're not a they're not financed. It's stuff that I just own outright.

• 32:40Speaker 01

  Oh, that that might be the personal loan for through Square.

• 32:44Caleb Hammer?

  Guy, do you know anything? Do you know anything? Do you, what are you talking about? It could be the personal loan. I don't know what this is.

• 32:53Speaker 01

  I think it's the Square loan.

• 32:56Caleb Hammer?

  So you borrowed through your payment service provider for some reason, which is crazy.

• 33:03Speaker 01

  They offered it.

• 33:04Caleb Hammer?

  Of course they did. Apparently, if I want this business to make a ton of money, I just offer a predatory loan through our website. Okay, so this is the personal loan.

• 33:14Speaker 01

  Yeah.

• 33:15Caleb Hammer?

  Good thing I didn't ride bike yet.

• 33:18Caleb Hammer?

  So $4,884 personal loan. And you're actually making payments on this or I mean, it just started.

• 33:25Speaker 01

  It gets pulled, a percentage gets pulled every time I run a transaction on Square.

• 33:29Caleb Hammer?

  Oh, for sake. Oh.

• 33:34Speaker 01

  I think.

• 33:35Caleb Hammer?

  Good for trying to get us to 27161 a month.

• 33:39Speaker 01

  I think it's 13% that's pulled out of each.

• 33:42Caleb Hammer?

  Until you hit that 27161 probably.

• 33:44Speaker 01

  It's on every transaction. It doesn't, it doesn't stop once I make the payment.

• 33:48Caleb Hammer?

  No, they wouldn't want you to make more progress, though. They wouldn't want you to make more progress because they want to get a bigger interest longer. They, they, really sure?

• 33:59Speaker 01

  Yeah, every, every transaction 13% gets pulled.

• 34:01Caleb Hammer?

  Then what happens if you don't hit that 271? Because maybe you just don't hit that 271.

• 34:05Speaker 01

  I haven't not hit the 271 yet, so I'm not sure what happens if I don't.

• 34:07Caleb Hammer?

  You hit it towards the end? Well, I guess you've only done it for a month.

• 34:10Speaker 01

  It runs, it, it goes by pretty quick.

• 34:12Caleb Hammer?

  But you've only done, had to do it for a month.

• 34:14Speaker 01

  Well, that's my third Square loan payment, or that's my third Square loan that I've gone through.

• 34:17Caleb Hammer?

  How often do you go through Square loans?

• 34:20Speaker 01

  As soon as I pay off one, I get another one.

• 34:25Caleb Hammer?

  So you're stuck in a cycle of in Square loans, of fucking Square. A fucking just loan Square you're stuck in.

• 34:34Speaker 01

  Perpetually.

• 34:35Caleb Hammer?

  So this is number three.

• 34:37Speaker 01

  Yeah.

• 34:38Caleb Hammer?

  How long do they usually last?

• 34:40Speaker 01

  Two to three months, I can pay them off.

• 34:45Caleb Hammer?

  Oh my, yeah. Payday loans, they're, they're so in your future. I mean, I'm just trying to like, just, just eh, take this in a little bit because so much was vague here. It was a little of like, okay, this, this might be interesting, this might not, we, we, we just don't know. You're gonna have to kind of find out for yourself and, oh my, we're finding out. Um, and it's 18 month loan. Uh, it doesn't show your last payment or else I wouldn't know.

• 35:14Caleb Hammer?

  I would know how much essentially goes towards it on a monthly basis.

• 35:19Speaker 01

  I can show you my Square up.

• 35:21Caleb Hammer?

  Well, this isn't lining up. Are you sure we had the right thing? Cause now it's saying the minimum payment is 600 something.

• 35:27Speaker 01

  That was it. That was, okay. That's a credit card debt.

• 35:29Caleb Hammer?

  That's a different debt.

• 35:30Speaker 01

  That's a different debt.

• 35:31Caleb Hammer?

  That is not in the stack of documents.

• 35:37Caleb Hammer?

  I'm gonna have to call the girlfriend in, in the post show. She's out in the lobby. I'm gonna have to unfortunately inform her that I have given you a medical diagnosis. We'll talk to her in the post show, guys. If you want to join the membership and help support this channel. Thousands of hours of extra content there. I recommend the elite one for, uh, the best value for the dollar. That's where all the extra good stuff is.

• 35:56Speaker 01

  Here we go.

• 36:00Caleb Hammer?

  Okay, so the balance is the same.

• 36:07Caleb Hammer?

  Activity, activity, activity. Auto pay, auto pay, auto pay.

• 36:13Caleb Hammer?

  Okay, well, it's not really showing.

• 36:22Caleb Hammer?

  Yeah, so that's how it works.

• 36:30Caleb Hammer?

  So that's how this works. It might be accruing interest.

• 36:38Caleb Hammer?

  Might be accruing interest?

• 36:41Speaker 01

  There's like a loan fee that I

• 36:42Caleb Hammer?

  I need to get a girlfriend. You see how fast I can tap this calculator? That didn't make you guys want to apply to be my girlfriend. I don't know. It does. Actually, it wasn't even that impressive, was it? Was it Lindsay?

• 36:53Speaker 02

  Um, no comment.

• 36:55Caleb Hammer?

  Oh, I'm single forever.

• 36:59Caleb Hammer?

  Okay, so this is how they do it. This is the interesting thing. There might be, okay, so yeah, you make them an a monthly payment and they they're okay with you paying more than you usually do because of this little roundup thing. It's not the little, you know,

• 37:15Caleb Hammer?

  you're probably getting interest accrued if there's balance left there. You're probably getting that little interest accrued. You know, just a little touch of interest. That probably happens. But that that that's not what's, that's not what's fucking you. That's not what's doing it. It's when you borrow this, you borrow the full 4,200 that you could borrow. Guess what? They immediately added a $700 fee. Fee baked in out of the gate, bringing it to like 5,100. Meaning even though you've paid 13% of it, you're still above the balance. That you took out, that you took out. You are paying an extra almost 17%. A little 17% fee just to get access.

• 37:59Caleb Hammer?

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

• 38:41Caleb Hammer?

  This is the best way to learn what your investing profile looks like and what investing strategies to use based on that. All of this free money is linked in the resources section of the description below. So don't pass up the free money because I'll punch you. Oh, they are making a killing. They are making a killing. You are paying for whatever skyscraper they have built somewhere. You are giving Square so much money.

• 39:07Caleb Hammer?

  This is fucking crazy. You can't do it again, but then you have to because you you run out and then you borrow the money and then you're in the cycle. You're in the square. You're in the fucking square. You are in the square.

• 39:17Speaker 01

  Right.

• 39:20Caleb Hammer?

  This is an insane debt. This is fucking wild. It has that fee added to it and that plus the interest. No, that's the repayment rate. That's the repayment rate is 12.5%. So they add the fee on the fucking little thing out of the gate. That's what they do. They add the fee on the gate. At the gate. That's crazy, man. That is fucking crazy.

• 39:45Speaker 01

  I'm assuming that's it. It looks like a non-interest loan because of the fee, but you're still paying. Whatever.

• 39:51Caleb Hammer?

  It's because it's baked in. I if I take out a high interest card and I put a $5,000 on there. But I put $4,500 towards it. That means it's only going to accrue on the $50. $500, but that's not what this matters. You you can take out $4,000 on this and you you pay back 3,500. Now you still have the stupid same amount fee. That's a 17% fee that was added. They just made a 17% return on their money and they've done it three times with you. This is wild, man. This is crazy. How? How?

• 40:23Caleb Hammer?

  How'd you even fall into that? How'd you even find this debt? Because you use them as the payment service provider?

• 40:28Speaker 01

  Yeah. So it looks like I make a ton of money when I'm running payments through Square. So they like open me up to this large amount of money.

• 40:36Speaker 01

  And every time I pay it off, the like amount increases. So the loan started off small.

• 40:40Caleb Hammer?

  Meaning the fee increases. That's 17% to it increases. They want to get it as high as they can so that that 17% goes further.

• 40:51Caleb Hammer?

  Dude, you don't understand. You don't understand how bad that is, man.

• 40:55Speaker 01

  And then the the credit card debt that I showed you earlier that I had forgot about.

• 40:58Caleb Hammer?

  You forgot about?

• 40:59Speaker 01

  I haven't paid it. It was just

• 41:00Caleb Hammer?

  Since?

• 41:01Speaker 01

  Back in the mine.

• 41:02Caleb Hammer?

  Since?

• 41:02Speaker 01

  Over a year. It's been turned over to collections.

• 41:06Caleb Hammer?

  Credit card, you're not a debt person. You don't know how to use utilize credit cards.

• 41:11Speaker 01

  I've never paid one off.

• 41:12Caleb Hammer?

  The resources we'll set you up with, we can get you access to the Fizz Card, which is a debit card that builds credit. We'll do that. We do that for the community. We do that for our guests too. You probably need therapy. You certainly look like it. We'll give you three free therapy sessions through Sounder Mind. It's a service that I use and that the community uses as well. I don't even know if I want you to sit across the table from a domain money people. I don't want them to have to deal with that. They're good though.

• 41:40Caleb Hammer?

  The fact that you're taking that out, take our debt class. Understand debt, man. Fully understand how to utilize it correctly and how to pay it off. Go through our budgeting class and then eventually go through our investing class. Take all the quizzes, go through the information. Tens, over 10,000 people have taken them and they've literally changed their lives for the better. Take them, build the budget, learn how to pay off debt for sake, man. It's the best thing you can do. Surround yourself with the best things you can possibly get and you get them for free. You guys can bundle them for 15% off, highly recommend it, but you get it for free. So you better do it, man. Okay. So Capital One, so you're saying this was the truck.

• 42:15Speaker 01

  That is my truck. Correct.

• 42:16Caleb Hammer?

  Ah, I see why you're a little confused. It is a pretty similar balance. $4,656.28 on this one.

• 42:26Caleb Hammer?

  Oh, and like fees $119. Oh, you owe $1,316.50 on this loan that is only $4,635? Because you're just endlessly passed. Get down. What was the, oh. So minute off, dude, why? So it's because, it's because of the thing we talked about earlier. It's the, you're not going to, you're not, you don't want to go to jail. So you pay the lawyer in order to pay the lawyer. You have to defer the other payments and take out loans in order to pay the lawyer. So you don't go to jail. But in order to do that, you have to not pay on things like this because the payments come due and you can't afford it. And we already have a multi hundred dollar payment due on a monthly basis with both of these together.

• 43:10Caleb Hammer?

  You don't make that kind of money. Both these loans together already take up half your income amount of the whole month. And then you incorporate the lawyer into it. It's not even close. You're done. You're capped. You're ruined. You're.

• 43:22Caleb Hammer?

  So that's why you're behind.

• 43:25Caleb Hammer?

  That makes sense. It makes sense. Who did you borrow the square? Why isn't it going to just pay it off? Where's the square going? What are you doing with the square debt? Where does that go? You used the money. Where does it go?

• 43:37Speaker 01

  The, the last one that I took out, um, I was behind my truck payment like three months and they put my truck in repo. So most of it went towards that.

• 43:46Caleb Hammer?

  Oh, but you're headed towards there again.

• 43:48Speaker 01

  Right.

• 43:49Caleb Hammer?

  So it's just, you, you get to repo and then we borrow so that we can pay on it. Then we get the repo, then we take on a new debt so we could pay on it. And like, do I need to draw that out?

• 43:59Speaker 01

  That's me.

• 44:00Caleb Hammer?

  I can draw that one out too. You, you, you, a lot of people on the show that get locked into cycles. It's a very common thing. It's a very common thing in the United States and America and every culture, actually, even Communist China has dead up the deck. I mean, communist.

• 44:16Caleb Hammer?

  It's this.

• 44:18Caleb Hammer?

  So that's normal, but you keep locking, you, you get in multiple cycles. You're in a cycle of a cycle of a cycle. You're in like these cycles that are interconnecting. All these things, man. This is crazy.

• 44:29Speaker 01

  It's hard to manage to deal with.

• 44:30Caleb Hammer?

  I could have manned it. Yeah.

• 44:35Caleb Hammer?

  Yeah.

• 44:37Speaker 01

  That's.

• 44:37Caleb Hammer?

  What are you doing to deal with it? What are you, what have you done to deal with it though?

• 44:41Speaker 01

  Other than take loans out, nothing.

• 44:43Caleb Hammer?

  That's not dealing with it. That's the for in the process. Uh, why haven't you, how many hours a week are you working? Tattooing?

• 44:52Speaker 01

  Tattooing, probably thirty six hours a week.

• 44:54Caleb Hammer?

  Okay, then fuck off. Go work sixty hours somewhere instead. You need to make more money.

• 44:59Speaker 01

  I don't have another skill set. I don't have a high school diploma.

• 45:02Caleb Hammer?

  We'll gift you a certification through Course Careers. Use that. It could be a good way to get into a job market. Um, we recommend that for our, our audience as well. It's another resource we can provide. Uh, you didn't graduate high school, you said?

• 45:14Speaker 01

  I didn't.

• 45:15Caleb Hammer?

  Yeah, definitely. The GED?

• 45:17Speaker 01

  No.

• 45:18Caleb Hammer?

  Why not? Why haven't you tried to do the GED?

• 45:20Speaker 01

  I've been tattooing for eleven years, so I started tattooing when I was seventeen. I've had no reason to go and get a GED.

• 45:25Caleb Hammer?

  Did this all start with the legal? Were you fine before the legal?

• 45:29Speaker 01

  I was okay. I was doing better.

• 45:31Caleb Hammer?

  Well, okay, what does your better look like? Cause this is like bottom of the barrel. Like, okay, you could still be complete.

• 45:37Speaker 01

  I was up to date on payments and I would still be able to pay my insurance on my truck.

• 45:42Caleb Hammer?

  So you're, you were able to do minimum monthly payments, but you still had debt?

• 45:45Speaker 01

  Right.

• 45:46Caleb Hammer?

  And you, were you still opening debts?

• 45:48Speaker 01

  Yes.

• 45:49Caleb Hammer?

  So that wasn't good anyway. So obviously this isn't working. You've gotten yourself in a situation where your behavior is out of control that got you into debt. And then when something popped up like the legal thing, all of a sudden now you just can't control it. And not only do we have to correct behavior, you're going to have to bring in more money. And I don't know how this motorcycle thing works. You say three thousand, three hundred dollars a week? What do you, how does that, how does that work? How does that, what does that look like?

• 46:10Speaker 01

  Um, it's pretty much just like a cash payment that my, my boss gives me.

• 46:14Caleb Hammer?

  Well, what do you do? You're working at a shop?

• 46:16Speaker 01

  Yes, it's me and one other guy that work.

• 46:19Caleb Hammer?

  How many hours a week are you working there a week?

• 46:20Speaker 01

  When I did it yesterday, like thirty? Maybe twenty eight, somewhere around there. Close to thirty.

• 46:26Caleb Hammer?

  So you're making like ten bucks an hour?

• 46:28Speaker 01

  Fifteen.

• 46:29Caleb Hammer?

  That math's not mathing.

• 46:40Speaker 01

  I don't really think that my payment, I know it's three hundred dollars guaranteed. A week, I'm spending more time there than

• 46:49Speaker 01

  than what I'm actually getting paid for.

• 46:52Caleb Hammer?

  Don't.

• 46:55Caleb Hammer?

  Don't work somewhere where you're not getting paid for your time. When you can't pay your bills and you're behind on things and we're taking out payday loans here starting soon. Actually, basically already are.

• 47:06Caleb Hammer?

  I think that's a pretty basic, uh, rule.

• 47:11Caleb Hammer?

  Right?

• 47:12Speaker 01

  Right.

• 47:12Caleb Hammer?

  You're not getting paid and you can't pay your bills. Don't work there. Drop some fries. Work at fucking summer moon, I fucking lactate moon milk. What?

• 47:21Speaker 01

  I feel like the motorcycle thing currently is like an apprenticeship opportunity though. Like I'm

• 47:25Caleb Hammer?

  How long have you been apprenticing?

• 47:27Speaker 01

  I've been with him a little over a year.

• 47:29Caleb Hammer?

  Okay, okay, okay.

• 47:32Caleb Hammer?

  And what's the, uh, what's his little, what's his little, uh, that he dangles in order to keep you there?

• 47:41Speaker 01

  I mean, I guess it's just the lifestyle and like being he's a very like popular dude.

• 47:45Caleb Hammer?

  Okay, that doesn't count anymore when we can't pay our bills. You get to have that luxury. You get to have that luxury of sacrificing paying time for things you want to do when you can pay your bills.

• 47:58Caleb Hammer?

  You're gonna go to collections, you're gonna give a repo, you're gonna go to jail, then you're gonna get the IRS to come down and peg you. Ah, I think we're not choosing the convenience of what we enjoy doing. I enjoy the percentage, the, the, the, again, like the, the certification thing. You could do a construction project management certification. You can kind, you can, and then you can get into that world and you do not need a diploma for that world to work in construction. For some jobs, of course you do, every job, you know, every level, there are certain things, but you can get into the field. The cop without a college degree, okay?

• 48:33Speaker 01

  I guess it was just my freedom that I was scared of losing.

• 48:35Caleb Hammer?

  Well, you're about to because you're gonna go to jail. Are you stupid? What do you, do I have to report to this is the girlfriend too? To add to the situation of your mental capacity? Like you're gonna lose your literal freedom. And like the most way you can other than death.

• 48:54Caleb Hammer?

  So I don't think we're choosing the freedom of our job in that situation.

• 48:59Speaker 01

  I, yeah, I'm just scared of the transition. I've never done anything but tattooing and work for myself and like.

• 49:04Caleb Hammer?

  Transition, you're gonna transition to someone's bottom in jail.

• 49:09Speaker 01

  I'm a pretty big guy.

• 49:11Caleb Hammer?

  Oh, yeah, but you're twinkie and they like.

• 49:13Speaker 01

  I'm not twinkie.

• 49:14Caleb Hammer?

  You're twinkie.

• 49:15Speaker 01

  Dude.

• 49:15Caleb Hammer?

  You're smooth and skinny. You're twinkie.

• 49:21Caleb Hammer?

  You're big twinkie.

• 49:22Speaker 01

  I'm big twinkie. Okay, we'll settle. Not twinkie.

• 49:26Caleb Hammer?

  So $598 a month, but you're behind by two right now.

• 49:29Speaker 01

  Two.

• 49:30Caleb Hammer?

  So it's still the case or is it three now?

• 49:31Speaker 01

  It's two.

• 49:32Caleb Hammer?

  Okay, repo starts, oh, like five, right?

• 49:38Caleb Hammer?

  And we're headed there. And so your spending is confusing and it's just like, where did your money go?

• 49:48Caleb Hammer?

  Hot guy.

• 49:50Caleb Hammer?

  Maybe you need to go to jail. You spent $1,600 just going out to eat.

• 49:55Speaker 01

  I don't go grocery shopping. It's gas stations and restaurants only. And Uber Eats.

• 50:05Caleb Hammer?

  That's your entire [__] income on a slow month.

• 50:11Caleb Hammer?

  We're taking out paid loans. We have a chance to go to, go into [__] jail and we're spending a thousand six hundred dollars a month and I could get you a three hundred dollar grocery. Budget, budget. I could get you a three, you [__], oh my gosh. Oh my goodness, sixteen hundred dollars a month. You cannot afford that. You cannot afford that.

• 50:32Speaker 01

  I don't have time to cook.

• 50:33Caleb Hammer?

  Yes, you [__] do. Cause you're gonna work jobs where you're actually getting paid when you work. You're gonna work sixty, seventy hours a week, not gonna let you work more than eighty. You're gonna push it to the max and you're gonna meal prep two times a week. Find time for that, cause I'm talking a couple hours a week. I know you have a couple hours a week, even if you're working eighty hours a week.

• 50:54Speaker 01

  What do I do about my two current situations?

• 50:56Caleb Hammer?

  Huh?

• 50:56Speaker 01

  What do I do about my two current jobs?

• 50:58Caleb Hammer?

  I.

• 51:00Caleb Hammer?

  Um. Well, for, I'm quitting the, absolutely the motorcycle one. I'm just trying to, I'm trying to picture the value of, uh, or at least temporary leave. You're just like, hey dude, I just, I got some bills to take care of and I'm just not getting paid here. Honestly, it might be a good way where he's like, okay, I actually like you being here. So here, let me give you more. That might happen. You don't do it to try to get more, but that might happen. You have every intention to leave. But. You're gonna have to go make more money. You're gonna have to actually make money for your time and the minimum starting wage for a low paid job in Austin is eighteen bucks an hour. So you're dramatically behind that by almost half.

• 51:39Caleb Hammer?

  You can drop some McFries for, I think it's sixteen bucks an hour in Austin. McFries, dropping them into oil. Then my fat asses come through the drive through.

• 51:50Speaker 01

  Yeah, dude, but I gotta work with a bunch of [__] idiots if I go to that place.

• 51:53Caleb Hammer?

  Well, you'll be right at home. You don't think everyone at a restaurant that they're hiding away from the general public looks like you? Come on. You look like a cook.

• 52:03Speaker 01

  No technical skills needed?

• 52:08Caleb Hammer?

  So you said there's some motorcycle debt?

• 52:10Speaker 01

  I wasn't able to get the loan agreement because I'm so far behind.

• 52:13Caleb Hammer?

  How far again?

• 52:15Speaker 01

  Five, four, four months, five months.

• 52:16Caleb Hammer?

  So that repo is coming.

• 52:18Speaker 01

  It's, I've already gotten an issue of repo, but they can't find it because it's pulled apart in pieces in my garage.

• 52:23Caleb Hammer?

  Good luck. So.

• 52:28Caleb Hammer?

  What's your credit score?

• 52:31Speaker 01

  Four, something.

• 52:34Speaker 01

  I think maybe a five, like a 503, you're like a 520.

• 52:37Caleb Hammer?

  It's about to go back down once this goes into fucking collections.

• 52:41Speaker 01

  I got a notice this morning that my credit card, that my credit score went down again. I just didn't check it.

• 52:46Caleb Hammer?

  Do you care about life? What are you trying to do in life? You remind me of the people where I'm like, that person next to me in first hour health class that smells like cigarettes is going to be a failure.

• 52:59Caleb Hammer?

  Luckily you don't smell like cigarettes. You might not be allowed in if you did. Do you care about life? You're here. And you, you, you don't, you genuinely seem like, I mean, you're being open and relatively honest when you're able to be about your situation.

• 53:17Speaker 01

  So I was doing great, like four months ago, five months ago.

• 53:20Caleb Hammer?

  No, you were not. You were taking out debt and you had debt. You were just making your minimum payments. Let's not use the word great. Let's not say things we don't mean.

• 53:27Speaker 01

  I was doing better. Um, and I went through a catastrophic breakup that like, sent me down a spiral.

• 53:34Caleb Hammer?

  In the guest room. What is that?

• 53:35Speaker 01

  That's my girlfriend.

• 53:38Caleb Hammer?

  Okay.

• 53:42Speaker 01

  But this was like a three year relationship where she was like involved with my daughter's life and like.

• 53:46Caleb Hammer?

  You have a daughter?

• 53:47Speaker 01

  I do.

• 53:47Caleb Hammer?

  There's a daughter and you're doing this? You're going to go to jail? Do you have a fucking daughter?

• 53:50Speaker 01

  I do.

• 53:50Caleb Hammer?

  She's going to grow up and look like you. How old's your daughter?

• 53:54Speaker 01

  She's six.

• 53:55Caleb Hammer?

  So only one of these? Obviously that's not the reason you dropped out. She's not young enough for that, old enough for that. Sorry, continue.

• 54:03Speaker 01

  So yeah, after, after we broke up, I was, I'm not able to be on like a, like an apartment lease because of like prior charges.

• 54:10Caleb Hammer?

  Right.

• 54:14Speaker 01

  So I was, we, we got a duplex together.

• 54:17Caleb Hammer?

  Welcome to Caleb Springer.

• 54:19Speaker 01

  I wasn't able to be on the lease. Um, so when we broke up, I was like kicked out of the house because like there was no legal reasoning for me to be there.

• 54:25Caleb Hammer?

  What are your prior charges?

• 54:27Speaker 01

  Uh, it was a possession. I got caught with like bitches in Texas and they charge you with a felony for it.

• 54:32Caleb Hammer?

  Probably not as much anymore since bitches shops everywhere.

• 54:35Speaker 01

  No, still.

• 54:36Caleb Hammer?

  They probably just don't catch you.

• 54:38Speaker 01

  If you're outside of Travis County, it's a much bigger, bigger ordeal, which is what happened. I got caught.

• 54:43Caleb Hammer?

  Shops everywhere, even though it's not legal yet. Okay. Okay. Go on, go on.

• 54:46Speaker 01

  So yeah, when, when, when we broke up and things shifted, like my whole life got turned upside down and I just went into a spiral.

• 54:53Caleb Hammer?

  Just a couple of months ago?

• 54:54Speaker 01

  Yeah. We broke up.

• 54:55Caleb Hammer?

  And you have a girlfriend already? A new pair of flaps?

• 55:00Speaker 01

  We broke up in September. I met my current girlfriend like a month ago.

• 55:03Caleb Hammer?

  Why'd you drop out of, uh, high school?

• 55:06Speaker 01

  I got in trouble as a juvenile as well.

• 55:08Caleb Hammer?

  Oh, who would have thought what you do?

• 55:10Speaker 01

  I, uh, I broke into my high school and I destroyed everything inside of it.

• 55:14Caleb Hammer?

  Everything?

• 55:15Speaker 01

  Everything.

• 55:16Caleb Hammer?

  Is this on the news?

• 55:17Speaker 01

  Uh, it was a really small town in West Texas. Um, like really tiny school, like the elementary.

• 55:23Caleb Hammer?

  Why'd you destroy everything?

• 55:24Speaker 01

  That place was terrible, dude. Like it's very old school. I was like corporal punished. Yeah. I got like swats and [__] from my principal and like it was bad. Not, not, not cool. And I held a grudge for that [__]. So when I got old enough, I like took.

• 55:37Caleb Hammer?

  How old are you?

• 55:38Speaker 01

  How, how old am I now?

• 55:40Caleb Hammer?

  How old were you?

• 55:41Speaker 01

  When I did it?

• 55:42Caleb Hammer?

  Yes.

• 55:42Speaker 01

  Sixteen.

• 55:43Caleb Hammer?

  So you got expelled?

• 55:45Speaker 01

  Uh, yeah. And then they wanted me to go to like an alternative school.

• 55:48Caleb Hammer?

  Yeah, to the [__] school.

• 55:50Speaker 01

  Wasn't gonna go, so I just dropped out.

• 55:55Caleb Hammer?

  Well, he definitely sometimes fails the society for people like you and just kind of leave you hanging. But you also made the choice to go in there.

• 56:05Speaker 01

  I did.

• 56:05Caleb Hammer?

  And you made the choice to drop out. I wish you just had someone in your corner. What was the family situation? Your parents?

• 56:13Speaker 01

  They're, they're there. Um.

• 56:14Caleb Hammer?

  They, okay. They didn't do a, oh, you're under my roof. Yeah.

• 56:20Speaker 01

  No, I, I, I moved out of the house as soon as I was sixteen.

• 56:23Caleb Hammer?

  They can't control that.

• 56:31Caleb Hammer?

  And they found out it was you through like cameras?

• 56:34Speaker 01

  Uh, no, I was in a high-speed pursuit that ended up in me wrecking my vehicle.

• 56:40Caleb Hammer?

  So it was called, they called the cops because of an alarm system?

• 56:44Speaker 01

  No, there was no alarms or cameras at the school. We ended up doing, uh, B and Es on vehicles.

• 56:49Caleb Hammer?

  What the is a B and E?

• 56:50Speaker 01

  Breaking and entering.

• 56:52Caleb Hammer?

  You were smashing cars?

• 56:53Speaker 01

  Mm-hmm.

• 56:54Caleb Hammer?

  We? Who's we? You did this.

• 56:56Speaker 01

  Me and my accomplice.

• 56:57Caleb Hammer?

  Was he expelled as well?

• 56:59Speaker 01

  Yeah.

• 56:59Caleb Hammer?

  Or is he a?

• 57:01Speaker 01

  Uh, no, not anymore. He's actually in a really good spot in life.

• 57:03Caleb Hammer?

  What's he doing?

• 57:04Speaker 01

  Uh, he's working at a rehab facility. He lives in, uh, North Austin.

• 57:08Caleb Hammer?

  Uh, you want to consider maybe, uh, not being the second half that failed?

• 57:15Speaker 01

  Yeah, ideally, but this shit keeps happening, dude.

• 57:19Caleb Hammer?

  Well, yeah, now you're in a cycle, man. You're in a cycle where it's just like,

• 57:24Caleb Hammer?

  almost might make just sense to fucking bankruptcy this. Um, not because the debt's substantial, but just to wipe the slate clean.

• 57:30Speaker 01

  My parents have filed for bankruptcy twice.

• 57:33Caleb Hammer?

  Yeah, and so you're continuing that cycle too. It's just, that's the, if we did boring titles, it'd be continuing the cycle of poverty. But instead it's gonna be something goony like, huh, that too?

• 57:54Caleb Hammer?

  So that's gonna probably go to collections. Repo man's been looking around, hasn't found anything, and it's in literal pieces?

• 58:01Speaker 01

  Yeah, he ain't gonna get it.

• 58:02Caleb Hammer?

  Nine thousand eight hundred eighty-nine dollars.

• 58:06Caleb Hammer?

  And why'd you take it into pieces?

• 58:09Speaker 01

  Uh, so it wouldn't be found.

• 58:10Caleb Hammer?

  Oh, so you did this intentionally?

• 58:12Speaker 01

  Yeah.

• 58:12Caleb Hammer?

  Can you reassemble?

• 58:14Speaker 01

  I can.

• 58:14Caleb Hammer?

  Okay, so when they're off your back, you're gonna be like, alright, motorcycle's new again.

• 58:19Speaker 01

  Yeah, pretty much.

• 58:19Caleb Hammer?

  That's crazy. What is the minimum payment to get it to get back on track?

• 58:25Speaker 01

  I think fourteen hundred dollars.

• 58:26Caleb Hammer?

  If you've seen this show, you already know what bad financial decisions look like. Death, debt, overspending, and constant tequila runs. But here's the deal, ignoring your mental health, that's just as dangerous. It piles up like unpaid credit card interest. And trust me, it'll cost you down the line. That's why you need to tackle it early, just like your finances. And today's sponsor, Sondar Mind, makes it simple. Sondar Mind is your all in one mental health partner. They connect you with licensed therapists or psychiatrists tailored to your needs. And you want more control? You can browse their directory and choose your own provider. Plus, their app is packed with self-care tools to help you stay on track between sessions.

• 59:08Caleb Hammer?

  And the best part, Sondar Mind works with most major insurance companies. So you're not stuck paying out of pocket, draining your budget. With coverage in forty eight states and Washington DC, they're practically everywhere. Mental health isn't a luxury, it's a necessity, just like having an emergency fund. So don't wait until it's too late. Check out Sondar Mind at pages.sondermind.com/caleb or at the link in the description below to get started today and make your 2025 your year of mental wellness. Reminder, better mental health can lead to better decisions and better decisions definitely lead to better finances. So head to the link below and check out Sondar Mind today. Not minimum monthly, that can't be, that has to be your back payment.

• 59:54Speaker 01

  Two, two eighty one?

• 59:57Caleb Hammer?

  Come on, over two eighty.

• 1:00:00Caleb Hammer?

  Capital One, honor, we did look at that. Okay, so yeah, that credit card, you said that went to collections?

• 1:00:05Speaker 01

  Yeah.

• 1:00:05Caleb Hammer?

  Well, why did, why was I able to see it in your credit?

• 1:00:07Speaker 01

  Oh, that was a different, that wasn't a Capital One debt. There's another one through FNBO.

• 1:00:16Caleb Hammer?

  Pull it up.

• 1:00:19Caleb Hammer?

  Oh, yeah, back up. When I woke up, I was not expecting this, man. We lit- you know, we literally sat in the room before, before this, and we said, there's not that many documents. The conversation might be kind of short.

• 1:00:38Caleb Hammer?

  We haven't gone to your spending yet, and it's over an hour. That's not something to be proud of necessarily. Balance.

• 1:00:48Caleb Hammer?

  Uh, what is this called? What is this credit card called?

• 1:00:52Speaker 01

  FNBO. I got it through, uh, Northern Tool, the tool company.

• 1:00:57Caleb Hammer?

  Is it a tool debt?

• 1:00:58Speaker 01

  Yes.

• 1:00:59Caleb Hammer?

  In the infinity, these stones are being collected, man. You're doing them all. You're doing a fucking IRS, no insurance? Jail, you had a jail. That's a new one. You collected a new stone no one's ever done.

• 1:01:15Caleb Hammer?

  Also, like, high school dropout, that's a new one, too. Uh, okay, so, oh, oh, oh, oh, we're over the credit limit by $450. $450, man. Dude, I'm gonna connect you. If you're, because you actually seem like a pleasant person. I just feel like, but why do you keep committing crimes, though? Because that isn't so, like, listen, I, I was a piece of, I've done lots of piece of things. I did so many dumb things when I was young, just like you did. A different, different kind of scale and whatever, but even still, we all make dumb mistakes. Because what? I've corrected it. I've matured. I've learned. I've grown.

• 1:01:53Caleb Hammer?

  If I was still doing that a month ago, like you getting arrested, it'd be so like, if I do connect you with these resources, like, I morally want to, I internally and emotionally want to, because you seem pleasant in front of me. What is to suggest five years ago, you're not doing what you've been doing for the last decade and two years?

• 1:02:12Speaker 01

  Um, well.

• 1:02:14Caleb Hammer?

  I was like, you have a fucking kid, and that pisses me off, that you're doing this with a kid. It's not funny anymore when a kid's impacted.

• 1:02:20Speaker 01

  I, uh, I struggled with, like, alcoholism, and then I was sober for, like, three years, and then

• 1:02:25Caleb Hammer?

  You drank.

• 1:02:26Speaker 01

  Literally, the

• 1:02:27Caleb Hammer?

  Because the breakup.

• 1:02:28Speaker 01

  That I drank.

• 1:02:29Caleb Hammer?

  Because the breakup, have you drank since then?

• 1:02:31Speaker 01

  No.

• 1:02:31Caleb Hammer?

  Do you go to group?

• 1:02:32Speaker 01

  I, I do.

• 1:02:33Caleb Hammer?

  Okay. Good.

• 1:02:37Caleb Hammer?

  You wait, okay, the minimum payment is 667, probably because it's backed up. The last payment you made is 2779. I don't even know what the that is. I I I it's a it's a cruel and forty three dollars. Why? Why?

• 1:02:56Caleb Hammer?

  Why'd you take this out, man? Forty three dollars of interest and forty dollars of uh fees on a monthly basis?

• 1:03:02Speaker 01

  It was like two years ago. I haven't paid it like in a while.

• 1:03:08Caleb Hammer?

  Bankruptcy, man. Might just be a fresh start for you. I hate recommending it because one, it's expensive. You you borrowed a a can pay for it just like you did with your lawyer.

• 1:03:18Caleb Hammer?

  Total fees this year so far, almost four hundred bucks and four hundred fifty dollars in interest. Okay. Okay, okay, okay. I don't even know what to do, man.

• 1:03:28Caleb Hammer?

  Like, but again, the behavior that everyone is about to see at the end of this is so crazy through your spending where it's like bankruptcy is not going to be the fix of your situation. You're going to end up right back here again. You and your legals, you and your spending. It's like you do this constantly. So, okay, well, what about this Capital One credit card?

• 1:03:50Speaker 01

  It's also hasn't been paid in a very long time.

• 1:03:52Caleb Hammer?

  Said that one's in collections?

• 1:03:53Speaker 01

  I believe so.

• 1:03:54Caleb Hammer?

  Well, let's see. He doesn't even know because on your credit, it doesn't say that it is. Unless there's another Capital One. Oh. No. Oh, yeah, there's two things in collections, four hundred forty and one twenty four.

• 1:04:08Speaker 01

  This is I I honestly don't know why this is showing. I know that I owe more money than you.

• 1:04:14Caleb Hammer?

  Yeah, that's what your credit showed as well. Maybe maybe you don't. Just take the win, man.

• 1:04:18Speaker 01

  Okay.

• 1:04:18Caleb Hammer?

  Yeah, he owes thirty nine bucks. Just pay that now.

• 1:04:20Speaker 01

  Yeah, that's that used to be higher. I don't understand what happened.

• 1:04:24Caleb Hammer?

  And yeah, those two collections that we talked about. What is this? What is this? What is this? What is this? What is this?

• 1:04:38Caleb Hammer?

  An energy bill for a hundred ninety two that you haven't paid either? Trying to get your energy shut off?

• 1:04:43Speaker 01

  I didn't even know that I had an energy bill over that. That has to be at an old address because currently where I'm at, it's not my name.

• 1:04:50Caleb Hammer?

  Are you paying it?

• 1:04:51Speaker 01

  That one?

• 1:04:52Caleb Hammer?

  Your current one?

• 1:04:53Speaker 01

  Oh, yes.

• 1:04:55Speaker 01

  It's split between me and the roommates.

• 1:04:57Caleb Hammer?

  How many roommates do you have with this cheap rent?

• 1:04:59Speaker 01

  It's me, my buddy, his wife, and their two kids.

• 1:05:03Caleb Hammer?

  Is your kid with you?

• 1:05:04Speaker 01

  I'm sorry?

• 1:05:05Caleb Hammer?

  Is your kid with you?

• 1:05:06Speaker 01

  I split custody with her mom.

• 1:05:07Caleb Hammer?

  Her mom's here?

• 1:05:08Speaker 01

  No, she's in Louisiana. I do a lot of traveling.

• 1:05:14Caleb Hammer?

  This is, I'll be honest, I, I, it's like,

• 1:05:20Caleb Hammer?

  I think there's important things to be learned from this conversation, I really do. I don't think I'm equipped for the magnitude of this, because so much of this just has to do with your life and addiction and endless behavior. I need you to do those therapy sessions immediately. And yeah, sit down with the domain advisor as well. You guys get a free session for the domain people.

• 1:05:44Caleb Hammer?

  But, I mean, that's how we do our partnerships, by the way, guys. Whenever we do things like this, it's like, hey, they're interested in like setting you guys up with stuff, but I'm like, if we're gonna do a partnership, the guests get a free one as well. So we do that so that you get the opportunity to. So take advantage of that free financial advice and session. Get these people in your corner, man, because I think this one is beyond me. I really do. This is so hard. Your behaviors, like, oh, there's not even...

• 1:06:10Speaker 01

  I'm a sweet guy. I just put myself in situations.

• 1:06:12Caleb Hammer?

  You seem pleasant, but you just make so many mistakes and you're uncontrolled and you're heading in this... I don't know, you're headed, you're headed down this really dangerous path. Really dangerous path that you've been, that you started at 16. And it's, it's not gonna get better. It's not gonna get better until something dramatically changes. And I think bankruptcy could be a potential solution, but I want you to sit down with the financial advisors first and need you to see a mental health specialist.

• 1:06:41Caleb Hammer?

  And again, we'll provide that. Okay. Yeah, stopped and, well, what are you getting from 7-Eleven and QT and all this stuff constantly?

• 1:06:49Speaker 01

  Um, kratom.

• 1:06:52Caleb Hammer?

  Stuff even is, it sounds like a Superman villain.

• 1:06:54Speaker 01

  It's like a nootropic. It's like a caffeine replacement.

• 1:06:56Caleb Hammer?

  I don't even know what that is. So it's, it's up? It's an upper?

• 1:07:00Speaker 01

  Yeah.

• 1:07:00Caleb Hammer?

  Wait, is that one of those things that people take instead of Adderall?

• 1:07:04Speaker 01

  Possibly. It comes in like a, I take like these, they're called Feel Free. They're like these little drinks that you can buy.

• 1:07:08Caleb Hammer?

  But you buy it at the gas station?

• 1:07:10Speaker 01

  Yeah.

• 1:07:10Caleb Hammer?

  So it's legal?

• 1:07:11Speaker 01

  Hmm.

• 1:07:13Caleb Hammer?

  Croatum?

• 1:07:13Speaker 01

  Kratom.

• 1:07:14Caleb Hammer?

  Oh, kratom?

• 1:07:15Speaker 01

  Yeah.

• 1:07:16Caleb Hammer?

  You can OD, well, you can OD on anything. Um, krat, uh...

• 1:07:24Caleb Hammer?

  K.

• 1:07:25Speaker 01

  K R A T O M.

• 1:07:27Caleb Hammer?

  Gotta do a little learning for us, us innocent people out there. It's a herbal substance derived from the leaves of the something, something, something tree, Southeast Asia, Thailand, you know, all the, everything fun comes from Thailand. Okay, um, so stimulant for increased energy alertness, social ability, high doses give you relaxation, pain relief and euphoria. Do you do the high doses?

• 1:07:56Speaker 01

  I do low doses. I have like terrible social anxiety. So like for me to be able to go to work and talk to people, uh, I feel like.

• 1:08:03Caleb Hammer?

  I'm sure you have a lot going on up there, which is okay. You just need to see someone. Okay.

• 1:08:10Caleb Hammer?

  So you're just getting kratom every time?

• 1:08:12Speaker 01

  Pretty much every, every time I stop at the gas station on the way to work and then like maybe once throughout the day, there's a smoke shop next to the.

• 1:08:19Caleb Hammer?

  Yeah. What do you get at the smoke shop?

• 1:08:20Speaker 01

  I like pre-rolls and kratom and stuff.

• 1:08:22Caleb Hammer?

  What's a pre-roll?

• 1:08:23Speaker 01

  Uh, it's like the little CBD joints that they sell there. They're like pre-rolled and like a.

• 1:08:30Caleb Hammer?

  Okay, kratom, kratom, vitamin out for bucks, pre-roll. Hmm, I think kratom, kratom, food, going out to eat, going out to eat, I think, uh, pre-roll, kratom, vitamin out a hundred twenty bucks, vitamin out sixty-five bucks, restaurant, restaurant, Taste of India, Uber Eats, you can't get Uber Eats, dude, come on. Wait a minute, how are you getting back and forth between, cause you said the work, the truck has gone and the Harvey's torn apart. What are you doing?

• 1:09:02Speaker 01

  I'm renting a vehicle for my mom.

• 1:09:08Speaker 01

  And currently, Hallie's been driving me around.

• 1:09:10Caleb Hammer?

  Kratom, pre-roll, pre-roll, pre-roll, kratom, Jim Jims.

• 1:09:17Caleb Hammer?

  Uh, Lone Star Souvenir, Lone Star Souvenir, Lone Star Souvenir.

• 1:09:22Speaker 01

  That's the like bodega across from us. I go there and like buy my food during the daytime.

• 1:09:26Caleb Hammer?

  Okay, okay. Uh, and uh, kratom, kratom, apple bill, Aaron's Rock, pre-roll. Food, food, Lone Star, Lone Star, Venma, Venma, Hilton Starbucks. Come on, make some fucking coffee dude. You're borrowing to pay a lawyer so no one go to jail. I don't think we're getting Starbucks or Uber fucking eats. Cool beans, probably kratom, probably kratom and food, Netflix, Uber Eats, kill me now. Uh, kratom, kratom, kratom, probably, I don't even know. Food, Poco Loco. Poco Loco.

• 1:10:04Speaker 01

  Poco Loco ribs dude, you ever been?

• 1:10:05Caleb Hammer?

  No. The is the Poco Loco?

• 1:10:09Speaker 01

  It's like a Mexican like grocery, like convenience store dude, it's so sick.

• 1:10:14Caleb Hammer?

  But you just buy food. You don't get the groceries.

• 1:10:17Speaker 01

  I don't.

• 1:10:17Caleb Hammer?

  You get the convenience.

• 1:10:20Caleb Hammer?

  Uh, pre-roll, oh my, me, oh, this is so many pages. Am I really doing all of this? Unfortunately, we know how this is ending. It's one of the rare times where it's not, it's not a, I'm angry, I'm not gonna do your or anything like that. It's just like, this is beyond us, man. This is beyond. Not beyond our resources, but beyond this conversation. Pre-roll, Uber Eats, Poco Loco.

• 1:10:48Caleb Hammer?

  I wasn't trying to do an accent, was I?

• 1:10:50Speaker 01

  It's okay, I'm Mexican, I approve.

• 1:10:52Caleb Hammer?

  Was I? I did Poco Loco. No, what's that? What is that? Poco Loco.

• 1:10:57Caleb Hammer?

  I don't think that's an accent, accent. I, I think I'm not getting canceled right now.

• 1:11:02Caleb Hammer?

  Yeah, yeah, okay, I gotta pass anyways, okay.

• 1:11:05Speaker 01

  It doesn't make it better.

• 1:11:06Caleb Hammer?

  But like, what was I doing? Okay. Uber Eats. It's okay. You know, we canceled these days anyway. We've, we've separated from the pearl clutches of this world. No one listens to them anymore. Uh, 7-Eleven, uh, so yeah, okay, kratom, kratom. Cool beans.

• 1:11:25Speaker 01

  That's the coffee shop in front of the motorcycle shop.

• 1:11:27Caleb Hammer?

  Brew fucking coffee.

• 1:11:30Caleb Hammer?

  Pre-roll McDonald's, Poco Loco, go work at Poco Loco! Ah, pre-roll, Poco Loco, Kratom, Venmo now $10. What do you, you Venmo out so much money, what do you Venmo now?

• 1:11:49Speaker 01

  Some of the Venmo transactions are to the coffee shop, some of them are to for like homies if they go get us food and I like owe them for the lunch or.

• 1:11:55Caleb Hammer?

  What, okay, split custody, so you're, you're, you're, you're, you're daughter, you take her to Poco Loco every second? How does she eat at home? What does she eat when she's at home? You're not cooking for her?

• 1:12:05Speaker 01

  So usually since she lives and like goes to school in Louisiana, like two or three weekends out of the month, I will travel there and like get an Airbnb if I don't like.

• 1:12:14Caleb Hammer?

  And how is food eaten?

• 1:12:15Speaker 01

  I buy groceries for, for my visitations. And then when she's here during the summertime, I go grocery shopping.

• 1:12:19Caleb Hammer?

  Okay, listen, here's the thing, man, it's just purchase, it's purchase. Here, look at all that, you see all that, you see that, guys? You can see that? Well, guess what? Here's another page of it, it's all, and it's all Poco Loco, Lobster's over near Poco Loco, Playstation, and Smokey, and Kratom, and Venmoingin'.

• 1:12:43Caleb Hammer?

  And guess what, guys? We have another page. What is this page? It's crazy, man, he's literally borrowing payday loans in order to pay off other loans, in order to pay his lawyer, in order to not go to jail. And it's Uber Eats and Shark's Burger and White Cloud Smoke, Poco Loco, and then a thousand other stupid purchases. There's no point, this is, why go? There's four more pages and it's, it's the same five places over and over again. It is Kratom, it is Poco Loco, it is getting pre-rolls, Venmoing out, and then some extra bowls, Uber Eats Burger King, Apple Bill, who the knows?

• 1:13:27Caleb Hammer?

  Who knows? This is all, and guess what, guys? Will you be shocked? Will you be shocked? Will you, will you be shocked? Here's another page, look, it's all bowls, everything in orange is bowls.

• 1:13:39Caleb Hammer?

  new ones

• 1:13:42Speaker 01

  dude I don't even know where some of them there will be times where I'll wake up I'll go to sleep with money in my account and I'll wake up with it being overdrafted

• 1:13:48Caleb Hammer?

  shut the up this isn't even just just what do you mean you go to eat five times a day you stop somewhere five times a day no statement is ever this long no statement is ever this long no statement is this long no statement is this long look at this is a smoking caterpillar a thousand times on here he had a bad time during this he really needed those roll ups

• 1:14:13Caleb Hammer?

  just on this page alone one two three four uh five six seven seven of the smoke shops lone star souvenir went one two three four

• 1:14:27Caleb Hammer?

  five six six times on there I'm not seeing any poco loco but I'm seeing marble stone retail one two no poco loco made a comeback two times at the end

• 1:14:39Speaker 01

  at least I'm consistent

• 1:14:41Caleb Hammer?

  consistently you're destroying your entire life and you're a father of a kid so it's not cute more

• 1:14:54Caleb Hammer?

  okay the thing is I hate to do this but

• 1:15:01Caleb Hammer?

  I know you came here for good reasons and everything and I really do appreciate it well is this is the thing there there they are texting me we need a budget please and I uh sometimes when I don't do a budget is because I don't want to do a budget because that person's pissing me off but I am trying to think about your situation the fact is I can't put in your budget what's required because you don't have things like car insurance you're skipping things I can't accurately build you a budget because you don't even have the things to make up a budget because you're not making the payments and you're not existing in society you don't have the things to make a budget and that that's again why I wanted to connect you with those resources because without having the basic things you can't have a budget

• 1:15:46Caleb Hammer?

  it's as simple as that your budget list right now there is no point your budget would be fake you would have a fake budget because it's not accurate it's not true it's not real but here are the basic tenants I want you to follow okay this would essentially be what I'm telling you if we did make a budget one just you know

• 1:16:07Caleb Hammer?

  We're gonna cut back your food spending to $300 a month. Meal prep a couple of times a week. It is worth it. It is worth it. Your rent's already in a good place. Your utilities are probably pretty chill with them. Utilize that situation and start getting ahead. Bring in some extra money by at least getting rid of that second job and going and working a different second job, man. One that actually pays you at least above $15 an hour, which is not hard in Austin. We have the budget in this travel. You say you travel once a month to see her?

• 1:16:38Speaker 01

  Once or twice a month.

• 1:16:39Caleb Hammer?

  How expensive is that?

• 1:16:40Speaker 01

  Um, an Airbnb for those two days is usually like $200 to $300 and then gas to get out there is like a hundred bucks.

• 1:16:46Caleb Hammer?

  Okay, so that essentially, yeah, without insurance, right?

• 1:16:49Speaker 01

  Right.

• 1:16:50Caleb Hammer?

  You're driving without insurance? So you need to...

• 1:16:52Speaker 01

  Usually I'll, if, if I don't have insurance on my vehicle, which has been recently, I'll travel up there with like my parents, like my dad will go with me and they'll like drive just to make sure things are kosher.

• 1:17:02Caleb Hammer?

  That's legal to do it as long as they've given you permission in the state of Texas? And you know for a fact she ensures it?

• 1:17:12Speaker 01

  Mm-hmm.

• 1:17:13Caleb Hammer?

  Okay?

• 1:17:13Speaker 01

  Yeah.

• 1:17:18Caleb Hammer?

  Okay, so we have to budget that in. That essentially brings you to like a normal rent if we include the rent that is in there.

• 1:17:33Speaker 01

  The last couple of months I haven't had to pay this.

• 1:17:34Caleb Hammer?

  Are you sure her policy though? Cause her policy could have exclusions where you might need to be on it listed on the policy. It depends on the policy sometimes. State, state of Texas, it's okay, cause the insurance follows the car and not you, but...

• 1:17:48Speaker 01

  I think I'm okay. I don't think that they would allow me to drive their vehicle if they weren't like...

• 1:17:52Caleb Hammer?

  They've declared bankruptcy two times. I'm not, they're not the most responsible people. I'm not saying they're bad people, they're just not those responsible. Okay, so you have to factor that into your budget as well. And honestly, to escape the cycle, the bankruptcy might be the path out and talking to an attorney there that might be connected through your attorney might be, you know, something important. So that might get you out of the cycle, but then you have to change your behavior by following the strict budget. Go through the education, go through the class, take the quizzes. If you follow a budget post bankruptcy, not taking out debt, you're gonna have to stay where you are a bit longer until your credit at least builds enough to where, you know, with even with the bankruptcy on there, you can get accepted into a new place.

• 1:18:35Speaker 01

  What does bankruptcy consist of? What would, what will that cause? I don't even know how the process works.

• 1:18:39Caleb Hammer?

  Definitely costs a few thousand dollars, mostly the legal process itself. Uh, and then you, I'm a little curious about the, without them being able to get hands on the bike, you being able to get rid of that Foley, the attorney would definitely know for sure. But you don't have a debt that you can't get rid of through bankruptcy. But you would have to get rid of the items themselves, like the vehicles.

• 1:19:07Caleb Hammer?

  In your case, for what I think you're trying to do. So, sit down with those experts.

• 1:19:13Caleb Hammer?

  I think that's the best path and then follow budget. We can, once, once you get your regular payments and everything in order, come back on the financial audit follow-up channel. We can make you a budget for what I think works. But just right now, you just don't have the ability to make a real budget. You really don't. You just have to get some of the basics under control first. So, okay. Gave yourself a hammer financial score too. I'm pretty sure it's a zero, but we'll find out. Guys, make sure to join us in the post show. We're going to bring his girlfriend in. And we're going to talk to her about this entire situation. We're going to confront her on that. And, um, oh, for what it's worth, I didn't even get a, uh, the budget paid, so I couldn't have built it anyway. But, uh huh. And, uh, yeah, the post will be good. Make sure to join the elite version for the best value of your dollar.

• 1:19:57Caleb Hammer?

  There's a call-in show where you can talk to us and a lot of other things, member streams, all that good stuff. Hammer financial score, I mean, it's zero out of 10. It's easy, is that? There's really nothing going for it. There's no savings. There's no nothing. Everything's bad. So, we'll see you guys in the post show. I hope you enjoyed this one. It was a hard one. Apparently we didn't even go through it in the main show because go through all the purchases, didn't catch it.

• 1:20:17Speaker 01

  I buy Yu-Gi-Oh and Magic with the gathering cards.

• 1:20:19Caleb Hammer?

  Yu-Gi-Oh, are you [bleep] boogie 2998 buddy? Magic the [bleep] gathering? Magic the [bleep] gathering, $11,138 of [bleep]. The kid, fuck paying the lawyer, [bleep] not going to jail. I'm spending on Magic the [bleep] gathering.

• 1:20:36Speaker 03

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