Pod Insights Financial Audit Most Childish Couple I've Ever Had On Financial Audit About this episode ▶I found out they OWE DEBT for the wedding now and it RUINS EVERYTHING... watch the post-show here: https://www.youtube.com/channel/UCLe_q9axMaeTbjN0hy1Z9xA/join
▶▶Bundle my budgeting, debt + investing program for 15% off: https://calebhammer.com/classpack/
Download the CFO’s guide to AI and Machine Learning for FREE at https://netsuite.com/HAMMER
Check out the top CD rates here https://money.com/caleb-cds on Money.com to find secure, steady, and smart options for your money today!
▶▶▶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) Advising: Book your free strategy session https://dmnmny.co/caleb to work with Adrianna or any of the other CFPs at Domain Money today!
7) Helium Mobile: save a ton on your phone bill, sign up and get 30 days of FREE trial when using promo code CALEB https://hellohelium.com/
8) Online security: Protect your online privacy and security NOW and for free by following my link Aura: https://aura.com/hammer
Learn more about your ad choices. Visit megaphone.fm/adchoices
Transcript 14,553 words · 3 speakers
Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.
0:00 Caleb Hammer? To watch episodes of Financial Audit a week earlier, check us out on YouTube.
0:03 Speaker 01 So the passes were [bleep] thousand dollars.
0:05 Speaker 02 For the both of us.
0:06 Caleb Hammer? What? For [bleep]ing what?
0:09 Speaker 01 For the whole year. So now we can go
0:11 Speaker 02 Anytime we want.
0:12 Speaker 01 Whenever we want.
0:12 Caleb Hammer? What the actual [bleep]. Look at this, you just spent a thousand [bleep] billion, jillion dollars on this card! Rich people don't do this.
0:21 Speaker 01 Cause it was my birthday a couple of weeks ago.
0:22 Caleb Hammer? [bleep] your birthday!
0:25 Caleb 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 pin comment below.
0:34 Speaker 01 My name is Stephanie, I'm 27 years old.
0:36 Speaker 02 My name is Michelle, I'm 28 years old and we live in Mesa, Arizona.
0:39 Speaker 01 And this is Financial Audit.
0:42 Caleb Hammer? Wow, thanks for coming over to Austin, guys. Okay. So this is, uh, this is exciting. We haven't had a rainbow-filled episode. I think everyone's a little excited about this. It's, it's gonna be interesting. Uh, not because of that specifically, but because we have a lot of couples on And it's gonna be interesting to see the dynamic here.
1:02 Speaker 01 Yeah.
1:03 Caleb Hammer? Very curious.
1:04 Speaker 01 Very excited.
1:05 Caleb Hammer? Yeah, so who decided they wanted to come on or was this a co-effort?
1:09 Speaker 02 Definitely her.
1:09 Speaker 01 It was me. She didn't know about it until after, I didn't tell her I Applied for the show until After I spoke with Lindsay the first time.
1:19 Caleb Hammer? Really?
1:20 Speaker 01 Yeah.
1:21 Caleb Hammer? And do you wanna be here?
1:23 Speaker 02 Yeah, I thought it was cool.
1:24 Speaker 01 I, I showed it to her before. And I, she, I told her she didn't have to, but She's excited.
1:31 Caleb Hammer? Yeah. Okay, so let's start with you, Stephanie. What do you do for a living? Mesa, Arizona?
1:36 Speaker 01 I'm a registered nurse at one of the hospitals.
1:39 Caleb Hammer? Very cool. What are you making?
1:41 Speaker 01 Um, I make thirty-six dollars an hour.
1:44 Caleb Hammer? Oh, okay, thank God.
1:45 Speaker 01 But I get, um, An 18% differential for nights.
1:50 Caleb Hammer? So what about us coming in on a monthly basis? What is your account on a monthly basis?
1:55 Speaker 01 From my paycheck, I believe it's about...
1:59 Speaker 01 Forty four hundred.
2:02 Caleb Hammer? Okay, cool. Works for me and you. What do you do?
2:07 Speaker 02 I work at Arizona State University, um, in the grants department doing like reporting.
2:13 Caleb Hammer? Okay, cool. What do you make?
2:14 Speaker 02 Uh, forty nine five.
2:16 Caleb Hammer? A year?
2:16 Speaker 02 Yes.
2:17 Caleb Hammer? Forty nine five, okay. What hits your account on a monthly basis typically?
2:20 Speaker 02 Like thirteen hundred? Oh, sorry, um, twenty six hundred.
2:23 Caleb Hammer? Yeah, okay. So the month we have was obviously clearly like a three paycheck month is what we saw. Which happens a couple of times a year because I was a little excited for you guys. I was like, wow! Obviously, seven thousand dollars is what the math comes out to, and that's more what you guys are making. I had closer to payroll coming in of about nine thousand eight hundred. So this is a three paycheck month.
2:52 Speaker 01 Yeah.
2:53 Caleb Hammer? Okay, so that's a little, it's seven thousand is not bad. Seven thousand is not bad. My expectations were here. And you're here. Luckily, this is still good, okay? So how are we living? Makes us seven thousand hours a month net. How are you feeling? What are we doing? Are you guys married?
3:10 Speaker 01 No, we're supposed to be getting married in March.
3:13 Caleb Hammer? Okay, good, because I don't have typically couples who aren't married, but you're gonna get married soon.
3:18 Speaker 01 Yes.
3:19 Caleb Hammer? Are you guys combined right now?
3:21 Speaker 01 Everything's been combined for-
3:22 Speaker 02 Eight years.
3:23 Caleb Hammer? Eight fucking years?
3:24 Speaker 01 Almost eight years. We've been together for eight years.
3:27 Speaker 02 Yes, sorry.
3:27 Speaker 01 We've been together for eight years and-
3:28 Caleb Hammer? Since twenty nineteen, you guys combined?
3:31 Speaker 01 Yeah.
3:31 Caleb Hammer? Wait, how long before you dating before you combined?
3:34 Speaker 01 Maybe like two years. Everything's together.
3:37 Caleb Hammer? It's so fucking risky though. What about debts? Are you on each other's debts? Are you authorized users on each other's debts? You guys have debts together?
3:42 Speaker 01 So, we're not authorized users on each other's cards, but we both use each other's-
3:47 Caleb Hammer? You use each other's cards?
3:49 Speaker 01 Yeah.
3:50 Speaker 02 We are authorized users on like one card, but-
3:53 Caleb Hammer? What are you guys doing? Why would you combine us? Or what, first, why did it take so long to get married? And two, why are we combining things before marriage? There's risk. Well, I not, I don't encourage for anyone's breakup, but what if, guys? Because it happens.
4:07 Speaker 01 Yeah, I, I think, well-
4:11 Speaker 01 When we combined, it was my idea originally because when we were splitting bills at the time, we were both servers. And with making money with tips and it was just kind of confusing to me. So I just.
4:22 Caleb Hammer? Nineteen and twenty combining without being married.
4:26 Speaker 01 Yeah.
4:27 Caleb Hammer? Okay.
4:28 Speaker 01 It I I think it actually worked out really great for us because ever since then.
4:31 Caleb Hammer? What are you talking about? Your finances are an absolute mess.
4:33 Speaker 01 No, that's true, but we don't.
4:35 Caleb Hammer? What are you talking about?
4:36 Speaker 01 We don't argue as much about who's paying for what, I guess, because we used to before we combined everything.
4:41 Caleb Hammer? Oh, like you pay this bill, I pay that bill.
4:43 Speaker 02 I have to like, oh, I spent thirty dollars here. Um, you you buy this, I'll buy that.
4:49 Caleb Hammer? Some people, some people find it sketchy if an engagement is going on for more than a couple of years. What the fuck, eight years?
4:54 Speaker 02 Well, we got engaged in.
4:56 Speaker 01 We did get engaged in twenty twenty-three, May of twenty twenty-three.
5:00 Caleb Hammer? For sure. You've just been together for a very long time without engagement or marriage. Why? Why are we taking so long?
5:05 Speaker 01 I think it's partially because we were so young when we started dating because I was nineteen and she was twenty that we weren't like. I we just weren't really thinking about marriage at that time, I guess. I don't know. We were both in college and just.
5:20 Caleb Hammer? Sure, then, but there's also been like five, six years since.
5:23 Speaker 01 Yeah, I I think that we we just weren't, we're just not in a rush.
5:27 Caleb Hammer? And why is this March gonna be the time then?
5:30 Speaker 01 Um, I think it's because I graduated nursing school. That was like a big thing for me is.
5:34 Caleb Hammer? When did you graduate?
5:35 Speaker 01 I graduated in last December.
5:37 Caleb Hammer? When'd you start?
5:39 Speaker 01 March, this past March.
5:41 Caleb Hammer? When'd you start school?
5:43 Speaker 01 Oh, I started school. Well, I've been going to school since I graduated high school.
5:49 Caleb Hammer? Why did it take a decade?
5:50 Speaker 01 Because I was working full time, so I was taking like part-time classes.
5:55 Caleb Hammer? That's not necessarily bad. I mean, there's certainly an offset. There there's a mathematical uh break even point when it comes to student loans and you know, whether or not, okay, let's take some student loans out. It's at a low percentage and uh you know, hopefully federally subsidized and then we complete school even quicker if we have to do ten years in order to work full time to cash flow. We complete school instead of four and then all of a sudden our income is up and we're able to invest it and we make the difference and then it completely offsets that and more, but.
6:26 Speaker 01 Yeah, we I actually I paid for a. handful of semesters out of pocket because I was going
6:31 Caleb Hammer? Wait, you weren't paying cash?
6:33 Speaker 01 Well, I
6:34 Caleb Hammer? The whole time, even though you worked full time the whole time? Why?
6:37 Speaker 01 I
6:37 Caleb Hammer? Then what's the point of even extending it out ten years?
6:40 Speaker 01 I was, I did have to take loans out for a couple of years and especially the last two years when I was actually in the nursing program. Because I wasn't working at all.
6:49 Caleb Hammer? Oh, they're telling me you sent over surprise student loans last night.
6:53 Speaker 01 Yeah.
6:53 Caleb Hammer? That Jake didn't even see until like right now.
6:56 Speaker 01 I forgot about the student loans because I did
6:58 Caleb Hammer? How did you forget about the student loans?
6:59 Speaker 01 Cause I just started paying them like this month.
7:02 Caleb Hammer? What have you accumulated in student loans over ten years?
7:06 Speaker 01 Fifteen thousand.
7:08 Caleb Hammer? That's not horrendous.
7:10 Speaker 01 No.
7:11 Caleb Hammer? You've really just delayed that whole potential income earning process, which means you also delayed the best decade of your life for compound growth. The money that could have been invested setting you guys up, you have no idea. Now you've got only three years to go and then all of a sudden that decade's done.
7:26 Speaker 01 I will say the nursing program had like a three year waitlist to get into.
7:30 Caleb Hammer? And go to a different one. There's nursing programs everywhere.
7:33 Speaker 01 Yeah, it would just, it would just would have been more expensive. The one I went to was probably the cheapest and the best one.
7:39 Caleb Hammer? It was a community college?
7:40 Speaker 01 It was at a community college, yes.
7:41 Caleb Hammer? Oh, you can't go to another community college with a little commute?
7:44 Speaker 01 They have like this weird thing where the all the community colleges are owned by the same company, like
7:49 Speaker 02 Maricopa.
7:49 Speaker 01 They're all Maricopa schools. So when you apply to the nursing program, you go to like any of those schools.
7:56 Caleb Hammer? Yeah, okay.
7:58 Caleb Hammer? So why not go to, so the waiting program was for all of them?
8:02 Speaker 01 Yes.
8:03 Caleb Hammer? For all of Maricopa County?
8:04 Speaker 01 Mm-hmm. I did find of, I actually would have not been graduating for another, probably next year I would have been graduating if I had waited the full amount. But I found a fast track program, so I did get in sooner. Cause I, I was working in insurance and then I quit that job to start working as a CNA. Cause if you work as a CNA at a certain company, they'll let you in sooner. So I did do the fast track to do this program as soon as I could.
8:29 Caleb Hammer? Okay, so it's fifteen thousand dollars. What's the interest rate?
8:33 Speaker 01 Um.
8:33 Caleb Hammer? Average across the board.
8:35 Speaker 01 Average, I think, is four.
8:36 Caleb Hammer? See, that's not bad. What's the minimum monthly payment?
8:38 Speaker 01 Um, it's one sixty-three.
8:40 Caleb Hammer? How long were you waiting to get into nursing school versus what were you doing in between? Like, but for for between like, oh, I have enough to get an associate, gen eds, blah, blah, blah, before going to nursing school. How long were you just waiting? Because ten years is still an insane amount of time. You've just, you've lost so much time.
8:55 Speaker 01 Yeah, I, so I, I originally was going to a university. I went to a university in northern Arizona for a year, or for a semester. I don't have any student loans from that.
9:05 Caleb Hammer? What a second. What are the student loans? Your student loans are get past due.
9:12 Speaker 01 Yeah, I did have.
9:14 Caleb Hammer? What are we doing? And then, oh, guess what? Future wifey over there is giving you the face of what the?
9:19 Speaker 02 Well, because her dad had paid for some of the NAU, so I wasn't sure if that was paid by him, or I didn't even know what was left from NAU.
9:31 Caleb Hammer? Why do you pass due?
9:34 Speaker 01 I.
9:35 Caleb Hammer? It's a hundred sixty-two, so that's your monthly? Yeah, one sixty-three, you said. Okay. Yeah. How? Why? You make money. You guys bring in seven thousand dollars a month. Now, what is happening?
9:46 Speaker 01 So my student loans had been deferred for so long because I was in school continuously.
9:50 Caleb Hammer? Yeah, and then they give you a thousand warnings that it's about to start via phone calls and emails and mail.
9:54 Speaker 01 Yeah, I, my email was getting very full, so I, I didn't.
9:58 Caleb Hammer? That's why you look at it and get rid of, act like an adult.
10:02 Speaker 02 She never does.
10:02 Caleb Hammer? What else is she missing? What else is she missing? What else is she missing then if the email is full? Come on. You can't just not do that.
10:09 Speaker 01 So I, I, yeah, so I did eventually see it because I logged into the account and saw that it was past due, which is why I realized that I do need to start paying back on them.
10:19 Caleb Hammer? Yes, because they start garnishing wages if you don't.
10:21 Speaker 01 Yeah.
10:22 Caleb Hammer? They take it before you can even see your money. Because of the federal government, do anything.
10:29 Speaker 01 Right, so I, that's why I know I need to start paying on them now, but.
10:33 Caleb Hammer? Why don't you pay on them now then? When did you find out they're past due?
10:36 Speaker 01 Um, like last month when I was going through all my accounts.
10:40 Caleb Hammer? Why am I seeing a past due statement then? Or why is Jake?
10:43 Speaker 01 Well, I didn't have the money to.
10:46 Caleb Hammer? You make seven thousand dollars a month net across the board. What are you talking about? And we're all combined. It's not even I didn't have enough money.
10:52 Speaker 01 Yeah, I di- I didn't have money in my debit account to pay.
10:56 Caleb Hammer? Debit account? You mean checking account?
10:58 Speaker 01 Yeah, yeah.
10:58 Caleb Hammer? Listen, seven, seven thousand dollars net, this is literally.
11:03 Caleb Hammer? 2.3% of your net income, 2.3% and you couldn't make the fucking payments?
11:08 Speaker 02 Not at the time.
11:09 Caleb Hammer? How? Why? Where'd the money go? Where would the money go? Where would the money go? Where would the money go? How about that?
11:16 Speaker 02 Shopping?
11:17 Caleb Hammer? It's interesting. I could kind of have a little bit of insight. You make $7,000 a month. How much was spent this last month, guys? How much, how, how much was spent?
11:26 Speaker 02 I, we make 7,000.
11:32 Speaker 02 I'm going to say.
11:33 Caleb Hammer? I'll even be more generous because it was a triple paycheck month. You made 9,000 the last month. Normally like 7,000, but you made 9,000. So what did you spend, guys?
11:41 Speaker 02 Um, I would say probably 10,000, yeah.
11:44 Caleb Hammer? It's interesting. 21,000 dollars, guys. You, I mean, you opened new debts. Balance has got to have the debts. You spent.
11:54 Speaker 02 Yeah.
11:55 Caleb Hammer? I mean, insane. What are you guys trying to do? But you're trying to get married right now? Right now? But nothing. You seem further away from it than ever. You spent beyond double what you make. You spent triple what you make.
12:14 Speaker 02 I don't even.
12:14 Caleb Hammer? Is this even a fault of one here? Or is this a fault of the together? Where, what are we? How'd you get, because how? Listen, if I had a month where it was just a crazy fucking month or something, let's just say, I would at least know that I spent crazy about what I made, because how could I not? That's insane. How, how can you not? Like, that's fucking wild. How did no one have any, you guys estimated it by under half. What you spent. Under half. I'd love to hear some thoughts here.
12:48 Speaker 02 We just didn't look at it, so we didn't. Well, we don't really look. I mean, we look at our bank accounts, but we don't.
12:56 Caleb Hammer? That helps. That helps. Not arguing. You said, guys, we're in a great place because we're not arguing anymore. Well, no, you won't argue if you don't look at it, because there's nothing to argue about, because you don't look at it.
13:08 Speaker 01 Yeah, I do. I will say that I do think November was a very high spending month and I knew that it was. I just didn't realize it was that much.
13:18 Caleb Hammer? Triple. That's not a very high spending month. That's insane. It's like apocalyptic financial. I want to give you free money right now. I've 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.
13:58 Caleb Hammer? You can also sign up for our investing program and get $100 in cash deposited into your Mu Mu account. This is the best way to learn what your investing profile looks like and what investing strategies to use based on that. All of this free money is linked in the resources section of the description below, so don't pass up the free money because I'll punch you.
14:17 Speaker 01 Well, we did buy a couple of things in November.
14:24 Caleb Hammer? A good one.
14:25 Speaker 01 Like, so in November, a couple of days before we found out that Disney was dropping their annual passes.
14:36 Caleb Hammer? Okay.
14:37 Speaker 01 And when I was in nursing school, when I was in nursing school, we said...
14:43 Caleb Hammer? You're talking about Disney right now? We're having a conversation about Mickey and his little mouse? What are we doing?
14:50 Speaker 01 Well, it was my, I told myself it'd be my treat for like finishing nursing school.
14:54 Caleb Hammer? You don't get treats if you're not paying your fucking bills. You haven't paid for nursing school yet. You owe on it still. Oh, okay, what?
15:03 Speaker 01 So the passes were $2,000.
15:05 Caleb Hammer? What? For fucking what?
15:09 Speaker 01 For the, for the whole year. So now we can go whenever we want.
15:13 Caleb Hammer? To any park at any time?
15:15 Speaker 01 Just to Disney, the Disneyland parks.
15:17 Caleb Hammer? Which one's that?
15:18 Speaker 01 In California.
15:18 Caleb Hammer? Oh, Disney one?
15:19 Speaker 01 No, I think it's the better one.
15:21 Caleb Hammer? Isn't it much smaller?
15:23 Speaker 01 It actually has the same amount of rides almost as the one in Florida.
15:28 Speaker 02 But the one in Florida has more.
15:29 Caleb Hammer? How are you guys getting that from Mesa?
15:32 Speaker 01 Getting what? Getting
15:35 Speaker 02 Pass
15:36 Caleb Hammer? It's in LA, so it costs money to get there.
15:39 Speaker 01 Yeah, we
15:40 Speaker 02 We drive.
15:40 Speaker 01 We drive there.
15:41 Caleb Hammer? Okay, well, so you're getting places to live. Does it cover the place to live when you're there?
15:45 Speaker 02 Nope.
15:46 Speaker 01 No, we just get a hotel.
15:47 Caleb Hammer? So you're spending money to spend more money?
15:50 Speaker 01 Yes.
15:50 Caleb Hammer? Cause you get the free food while you're in there and free drinks?
15:53 Speaker 01 No, we pay for that too separately.
15:55 Speaker 02 What the talking about? Ten percent off merch?
15:57 Caleb Hammer? Oh, man, merch, that's what we need to survive.
15:59 Speaker 01 And food.
16:00 Caleb Hammer? Guys, you kidding me? And the, the food's already priced up by ninety-five percent. So, yay, we saved ten percent. Great, guys, we're, we're doing so well. And merch, you can wear Mickey on your shirt. I'm thrilled for you. This is so good. You can watch a new Star Wars movie or something.
16:15 Speaker 01 I just, I feel like the price of the passes is worth.
16:21 Caleb Hammer? You're not paying on your student loans. That is a different conversation.
16:28 Speaker 02 I wanted her to have like, you know, because she finished nursing.
16:31 Caleb Hammer? You encourage this. You're, you, you are both subjects in this insanity.
16:37 Speaker 02 Yeah, we typically agree on
16:39 Speaker 01 On most purchases.
16:40 Caleb Hammer? On in our life, we agree on just destroying everything. We agree on not starting off the marriage in any way successfully. One of the leading causes of her divorce, we all know is financial.
16:52 Speaker 01 We just like to have fun and I feel like we have a lot of fun together whenever we go to Disney.
16:57 Caleb Hammer? Yeah, but who's pulling up the U-Haul first in this scenario, guys?
17:02 Speaker 02 For Disney related things, it's always her.
17:04 Caleb Hammer? Listen, here, here's just statistical reality, right? I mean, if I, if I'm not mistaken, I'm just, I've just seen it online. I don't know. So I, I might be overpromising on the reality part, but if I remember right, it's like, I think it's like
17:18 Caleb Hammer? gay dudes, least amount of divorce in the country. Then it's just like straight couple, you know? Decent divorcing, then, uh, female gay, high divorce rate. Okay, why would we go into the marriage that we want to be together forever? With finances if it's one of the leading causes for divorce in this country? Why would we want to go into something that is statistically less secure?
17:46 Speaker 02 Well, we've been doing it for like eight year or
17:48 Caleb Hammer? Not married!
17:50 Speaker 02 Well, not married, but like we'd never, like we didn't see it as an issue.
17:54 Caleb Hammer? But also you've done it through school and you've done it through the bull You've done it through the bull You've kicked the can down the road. You're thinking it's cute to get Disney over paying our student loans. You have yet to see what happens when you guys try to get a house together, buy a house. You have yet to see what happens when all this comes to fruition and the debt is owed now. Wages start to get garnished for not paying the student loans. And all of a sudden we need two thousand dollars. Maybe you guys have a kid or something and then you're trying to take care of that. Maybe you guys are trying to retire together in your sixties and we don't have a single cent for it. And I know you guys have a little bit of retirement, but again, all of a sudden what happens? What happens to people like you that I see that accumulate this much debt? They take from retirement as a shortcut to pay it off.
18:39 Caleb Hammer? So I have no confidence that I would stay there in this current path that you're headed. You just blew two thousand dollars. Two thousand dollars when you're literally not able to pay a one hundred sixty-three dollar payment. They're telling me seventy-five percent divorce rate, by the way, in the last ten years.
18:54 Speaker 01 I thought it was much lower than that.
18:56 Speaker 02 Me too.
18:56 Speaker 01 Honestly, I thought it was less than straight couples.
18:59 Caleb Hammer? Listen, well, no, it's not. And I would love, I would love for anyone who loves each other to stay together forever. I don't give a Do it! But let's give you the best chance for success. And going into the marriage with the lead, one of the leading causes makes no sense. You guys can break up easy. Getting through a divorce is hard, especially if there is all of a sudden a kid or two involved. Are we planning on children?
19:25 Speaker 02 We've talked about it recently and we aren't.
19:28 Caleb Hammer? Conversation's starting.
19:29 Speaker 02 We're just up and down.
19:31 Speaker 01 Yeah, back and forth.
19:32 Speaker 02 Back and forth.
19:33 Caleb Hammer? That's usually what makes a baby.
19:36 Caleb Hammer? That's just crazy. That is this, an absolute sign of immaturity, just immaturity, that we are choosing to be Disney adults over an adult. Making it a single adult decision of just paying a bill. You're choosing to be a Disney adult.
19:54 Speaker 02 I wouldn't say I'm a Disney adult.
19:56 Caleb Hammer? You literally just spent $2,000 when-
19:58 Speaker 02 I go along with what she does.
20:00 Caleb Hammer? What, you can't speak up? Do you not, are you not able to-
20:03 Speaker 02 I was okay with it though, I wanted to go.
20:05 Caleb Hammer? So you're an enabler and you did want to, so you're a Disney adult.
20:10 Caleb Hammer? If you don't speak up for it, then you, you get no sympathy on that end. Alright, I'm gonna count down from three, three, two, one, go. On, go. I want you both at the same time to give me what you think your household score is. I'm gonna treat this more as a marriage, because the marriage, you guys have been together for a long time and you're, uh, probably gonna get married, I would bet on it. Uh, so, cool. I want household financial score, zero to 10, zero being the worst, 10 being the best. I want to hear. Three, two, one.
20:39 Speaker 02 Two.
20:39 Speaker 01 One.
20:40 Caleb Hammer? Okay, so you think you're a little better? Why do you think you're a little better? Not that two's good or anything, but why do you think you're a little better than she thinks?
20:46 Speaker 02 Um, maybe just for, because I, we do have the retirement, a little bit of it, um, and we don't really have any, um, car debts or housing debts.
21:00 Caleb Hammer? No, just every other debt. Housing debt's not even a bad debt though, I would incur, I would almost want you to have a housing debt unless it's a horrible loan or a negative equity position in a home. I mean, that would raise your score in my book unless, again, you did it in just an absolutely stupid way. Cause usually it means you're leveraging a relatively low rate on an appreciating asset. Said you don't even, these aren't even assets, this credit card's not an asset, there's no asset in this credit card, but it's just sitting here being- Okay, well guys, if you want your Hammer Finance score, it's free. Figure out where you stand, figure out where your finances stand. It is in the description below. Also, if you wanna come on the show, come on the show.
21:39 Caleb Hammer? I'll give you some fun little beat up, I'll roast you a little and it's a good time, and you get to come hang out with us down here in Austin. Are you guys having a good time so far?
21:46 Speaker 02 Yeah.
21:46 Speaker 01 Yep.
21:47 Caleb Hammer? Oh, thrilling, are we thrilled?
21:48 Speaker 01 Very thrilled.
21:49 Caleb Hammer? Okay, so you can go to CalebHammer.com/apply and come and be thrilled with us. I'd love to have you here in Austin, Texas. Alright, so Southwest, we have a reward, so we talked about the student loans that we're behind on, so Southwest-
22:04 Caleb Hammer? How close are you to be behind two months?
22:16 Speaker 01 Um, I think we just have to pay this month for both payments.
22:22 Caleb Hammer? When's that due?
22:23 Speaker 01 Um, I don't know what day it is due.
22:27 Caleb Hammer? Then how are you gonna fucking do that?
22:29 Speaker 01 I was just gonna do it when we got our next paycheck.
22:32 Caleb Hammer? Yeah, but what if it was due before then?
22:36 Speaker 01 But then I would be caught up, because then my next payment isn't, wouldn't be till January, and then I would be caught up for January.
22:41 Caleb Hammer? What month are you behind?
22:43 Speaker 01 Just for November.
22:45 Caleb Hammer? So December, you might miss, though.
22:46 Speaker 01 But if I pay December and November's before December ends, then no, then we'd be fine, because in January, I'll just pay for January.
22:54 Caleb Hammer? Maybe, if you remember to do it. You didn't fucking pay this one.
22:58 Speaker 01 Yeah.
22:58 Caleb Hammer? It was November's bill, but you've been paid in December so far.
23:03 Speaker 01 I didn't, for November, I just didn't realize that the student loans had started.
23:07 Caleb Hammer? Paid in December so far.
23:08 Speaker 01 Yeah.
23:09 Caleb Hammer? It's not November anymore. You've been paid in December.
23:13 Speaker 01 Yes.
23:14 Caleb Hammer? What is your thoughts on this?
23:16 Speaker 02 I, I, well, I didn't, she didn't even tell me that, I mean, I guess I did know at one point. Like, recently, I did know that she was going to get, um, or she's going to get, um, student loan debt, but I didn't realize how much it was going to be and when.
23:36 Speaker 01 I never told her that the payments were starting, because I kept forgetting about it.
23:39 Caleb Hammer? Then, again, that leads me to no confidence that you'll actually make the payment. What's your thoughts on that, though? The late payment and her promising she's gonna double pay?
23:47 Speaker 02 We're really never late on payments, so that's just like, kind of crazy to me, because, I, I mean, she usually tells me these things, so it's shocking to me.
23:59 Speaker 01 I just forgot about it, the student loan, because I, because it's been deferred for so long, I just forgot that I was gonna have to start paying it now, because I've been working.
24:09 Caleb Hammer? Okay, Southwest Rapid Rewards, we just put a thousand nine hundred forty-six dollars on here. Great, the forty-dollar minimum payment. Why would we put so much on that? That's an insane amount of money. Again, reminder, we're not paying a hundred sixty-three dollar payment on something else. It's so bullshit! Oh, plane tickets, plane tickets, two plane tickets! That makes sense, for what?
24:31 Speaker 01 To come here.
24:32 Caleb Hammer? Oh, at least some of it gets reimbursed. Starbucks, Lightning Lane, Ship Store, Seasonal Marketplace, Seasonal Marketplace.
24:43 Speaker 01 Those are all at Disney.
24:45 Caleb Hammer? Anaheim. Were you just at Disney?
24:47 Speaker 01 We've been to, we went to Disney, and, once in November, and then we went a couple of weeks ago.
24:52 Caleb Hammer? Are you kidding me? Are you guys like, literal creatures?
24:57 Speaker 02 I'm going twice in January.
24:58 Caleb Hammer? We went twice in January? What the are you guys? What the are you talking about? Do you care? Do you care? What do you care about, other than going to Disney? Cause obviously you don't. What do you mean? Look at this, you just spent a thousand fucking billion, jillion dollars on this card! And it's all Disney, Disney, Disney, Disney, Disney, Disney, Disney, Disney, Disney, Disney, Disney, Disney, Disney. And then Wendy's.
25:25 Speaker 01 The December trip was for my birthday, cause it was my birthday a couple of weeks ago.
25:28 Caleb Hammer? Your birthday! It's twenty-seven! I guess that's the rent-a-car birthday, isn't it? That's your last special birthday until fifty-nine and a half? So it's your last birthday until fifty? That's exciting.
25:42 Speaker 02 We make every birthday special.
25:44 Caleb Hammer? Why? Your birthday, everyone gets them. There's, there's probably millions of people, there are millions of people with birthdays today. Who gives a? We're just on a rock that floats.
25:54 Speaker 01 We like to celebrate each other's birthdays, and I like to do mine at Disney.
25:58 Caleb Hammer? Which is cute, why don't you do that when you're out of debt and have fully funded emergency fund and you're on track for retirement and you guys are getting to life goals?
26:07 Caleb Hammer? What is your philosophy on this? Is it an entitlement thing? Do you think because it's your birthday, you deserve to do all this stuff? Even though you are not in a position to afford it? Two Disney's in these last couple of months? Two Disney's next month? What the actual?
26:24 Caleb Hammer? Rich people don't do that. Rich people don't do this. Probably why they're rich. But rich people don't do this. And you guys are doing it? You guys are literally poor. Great income. But you're poor because you allow yourself to go into horrible debt. And not pay it.
26:40 Speaker 01 The November, we only went for one day in November.
26:43 Caleb Hammer? You still traveled there. Bought a gillion dollars of food.
26:49 Speaker 01 We took our nephew.
26:50 Speaker 02 We took my nephew.
26:50 Speaker 01 We took our nephew for his birthday.
26:53 Caleb Hammer? His birthday?
26:53 Speaker 02 And we did split.
26:54 Speaker 01 And then we went for my birthday.
26:56 Caleb Hammer? Your birthday?
26:57 Speaker 01 And then we're going for our nephew's birthday in January.
26:59 Caleb Hammer? His birthday? I don't give a shit about birthdays. What is this obsession with birthdays? Get a little piece of cake and you're fine. Get a little piece of cake. We could even put Mickey on it. Who the cares? For their birthday? How long of a drive is this?
27:18 Speaker 02 Five and a half?
27:19 Speaker 01 Yeah, about five hours.
27:21 Caleb 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.
28:02 Caleb Hammer? And just like over 10,000 people who've already taken our educational programs, you can now take advantage of all three of them bundled together at a 15% discount. I've heard from thousands of people now who've taken these classes. And they've literally changed their lives for the better. And finally, you can too, at a more affordable price. Head to CalebHammer.com or click the link in the description below. You will not regret this.
28:27 Speaker 01 And since we already have the passes, we're not paying for the tickets to get into the park.
28:30 Caleb Hammer? That doesn't matter. That doesn't matter. First of all, you couldn't afford the passes, but since the passes are already done, okay. But that still doesn't matter. You spent a thousand dollars on just being at Disney, on here. A thousand dollars, just on the Disney crap.
28:47 Speaker 01 I mean.
28:48 Caleb Hammer? For a day, for one day. A thousand dollars for a day. Guys, you make seven a month net and you blew through a seventh of it in a day? Unacceptable. Missing our student loan payments, i.e. the money you borrowed, federally backed, subsidized from us, the taxpayers, you know, these ones right here, us? You're not paying it back, but you're going to Disney?
29:16 Speaker 01 Well, we're gonna pay it back.
29:18 Caleb Hammer? You're not.
29:19 Speaker 01 Our next paycheck.
29:20 Caleb Hammer? Maybe we'll see that or you can have a bonus trip to Disney because there's a hidden relatives birthday you didn't know about.
29:27 Speaker 01 Well, next month, we, the both trips were going on, we're going with other people. So we've already committed.
29:34 Caleb Hammer? Yeah.
29:34 Speaker 01 To splitting the hotel with them.
29:36 Caleb Hammer? Yeah, call them and say, oh, wait, I, I forgot that I'm literally a poor.
29:43 Speaker 02 I don't think we can do that.
29:45 Caleb Hammer? I think you can. I think it's called having a mature conversation and being an adult. And having literally any kind of sacrifice. When I'm telling people to sacrifice things on the show, I'm talking about sacrificing while watching or listening to some ads sometimes. I think it's okay to sacrifice not going to Disney for the 10th time in a year. I'm talking about something so small and insignificant.
30:08 Speaker 02 But my nephew's going to turn three and he's at his really few age.
30:14 Caleb Hammer? So he won't even remember it. He won't even, no he won't. You don't start remembering things until like what? Around that three or four, but I doubt he'll remember. Core memories, what is it? It's like four, right?
30:28 Speaker 01 We took our niece for her birthday a couple of years ago before she was three.
30:31 Caleb Hammer? She remembers the pictures and she's forming memories in her brain. Just like when you have deja vu and you think you had another thought of that before, but your brain is just convincing you that you had a thought of it. You're thinking of the thought you're thinking of. No, they don't. They see pictures and they're forming memories based on it. So we all do. If you think you remember something from when you're two, you don't.
30:54 Speaker 01 I think she remembers.
30:54 Caleb Hammer? No.
30:56 Speaker 02 They have really good memories.
30:57 Speaker 01 She's got a really good memory. They're very smart.
30:59 Caleb Hammer? Oh yeah, well, I'm proud of her. Maybe she needs to get hit in the head or something, but listen. Take them a year later and they'll even have better memories and you'll have better money. There's a lot of years to go to Disney still. I don't think Disney's going away.
31:15 Speaker 01 Also promised our other nephew, we take him for his birthday.
31:18 Caleb Hammer? How old's your nephew?
31:19 Speaker 01 He's turning, is he turning nine?
31:22 Speaker 02 Nine.
31:23 Caleb Hammer? None of these are like birthdays worth celebrating. Maybe if it was like a señora, maybe if it was like you're 18, maybe if it's like 21, AARP. Retirement. You don't get the, I can rent a car with cheaper insurance age Disney present. That's not really worth celebrating.
31:48 Speaker 02 But we already told him and we feel bad because we took his brother, so we feel like we need to take him.
31:53 Caleb Hammer? Take him to a playground, put up a Disney statue and he'll think he's there. He's three.
31:58 Speaker 01 No, the other one, the one that's turning nine. His birthday's in May and we're supposed to take him in May.
32:04 Caleb Hammer? So two in January, then one in May?
32:06 Speaker 01 Yeah, but the second January trip is one of my friends from nursing school.
32:09 Caleb Hammer? This is literally the most insane shit I've ever heard in my, I don't know if I've ever heard anything more insane in this show.
32:17 Caleb Hammer? The three year old's borderline He's three. He won't know where he is.
32:21 Speaker 01 He's been talking about it. He's been, he's been talking about it. He asked us if we're going to Disneyland and we tell him yes.
32:28 Caleb Hammer? And you shouldn't have said that. It was irresponsible. It was irresponsible.
32:34 Speaker 01 Well, his parents are going with us.
32:36 Caleb Hammer? Oh.
32:37 Speaker 01 So we're splitting it with them.
32:38 Caleb Hammer? This is great. They can go. You don't need to go.
32:41 Speaker 02 We want to watch.
32:42 Caleb Hammer? I don't give a You'll watch based on Instagram.
32:45 Speaker 01 And we're sharing a hotel room.
32:46 Caleb Hammer? Shut the up. I do not care. I don't care, guys. How are you still battling this? You seriously aren't willing to give up going to Disney only one time a year instead of a thousand? Just to get into some place of financial wellness? Like, I can't accept that. How, how are you guys? Like, I can't deal with that. That's not a conversation that we can even have, guys.
33:11 Speaker 02 We already spent the money for the
33:13 Caleb Hammer? No, you haven't.
33:14 Speaker 02 Oh, well, yeah.
33:15 Caleb Hammer? The annual passes, yes, but again, that's a ticket to spend more money.
33:20 Speaker 01 And then we already booked the hotels for both trips in January.
33:23 Speaker 02 A hotel credit card to help.
33:28 Caleb Hammer? Oh, to help?
33:29 Speaker 01 Cause it gives us points.
33:30 Caleb Hammer? Fuck your points. Fuck your points. You're spending quadruple what you make. Triple what you make. On your three paycheck month, so probably quadruple your normal month.
33:43 Speaker 01 Well, it gives us points to go towards free rooms.
33:47 Speaker 01 For later trips.
33:49 Caleb Hammer? Titting, dude. You can't pay off car insurance if you're spending three times what
33:56 Caleb Hammer? How do I proceed in this? I can't. You guys are like in a cult?
34:08 Caleb Hammer? Minnie Mouse isn't gonna have a three way, guys. You do not have to go.
34:18 Caleb Hammer? You're this, you're unmovable on this.
34:22 Speaker 01 It's hard.
34:23 Caleb Hammer? You won't cancel these trips?
34:24 Speaker 01 Well, we've made commitments to our
34:26 Caleb Hammer? I know.
34:27 Speaker 01 other people.
34:27 Caleb Hammer? And then you have to have the hard conversation, the mature conversation. The conversation that no one wants to have because it's embarrassing and it hurts. But it's the conversation you have to have if you actually want to make some progress in this. If you guys actually want to start your marriage on a successful footing, these are the conversations you have to have.
34:46 Caleb Hammer? It goes beyond a choice at that point. And you guys can choose to do this, actually, like, go for it. But this is your future. This is what your entire marriage looks like.
35:02 Caleb Hammer? You guys are behind on retirement. You have retirement, but you're behind on retirement. Most of it is because of how long you were in school. You just didn't have a chance to get up. Your income should be, you should have one times your income saved in three years, two years for you. One times your income in your retirement accounts. Essentially, one times your household income across the board. You guys are not on track for that. And that's just setting up some basic tracking to get to where you want to be by retirement. Because you need to have time in the marketplace to grow, for it to compound as the market does its thing. But you're saying, no, Disney. Disney now, Disney next month, Disney the month after that. And then probably a couple of Disneys the month after that.
35:43 Caleb Hammer? That's what you guys are choosing over retirement and I, I, I don't know.
35:50 Caleb Hammer? It's the hard conversations and you need to have them. We're not acting like we're 16 anymore. We can't. You can't act your nephew's age. You guys are 28 and 27. You need to have the adult conversations, maybe with their parents. And then maybe their parents can explain it to them. Okay? So they're your, your sister or brother?
36:14 Speaker 01 My sister.
36:15 Caleb Hammer? How's your relationship?
36:16 Speaker 01 Very good.
36:17 Caleb Hammer? Then have the conversation.
36:18 Speaker 01 Yeah, we're best friends.
36:19 Caleb Hammer? Then have the conversation. If she's your best friend and sister, she will understand because she will want nothing more than to support and love her sister.
36:26 Speaker 01 That is true, but...
36:29 Caleb Hammer? But?
36:31 Speaker 01 She also, we were splitting the hotel with her.
36:33 Caleb Hammer? But what?
36:35 Speaker 01 But we could just go this time and then we won't go the rest of the year.
36:40 Caleb Hammer? You're talking about going three times. People are lucky to go to Disney once a
36:49 Caleb Hammer? half decade or so even. Disney's expensive. You guys are not entitled to this. This is disgusting immature behavior that you think this is okay and acceptable. I don't even know what to do, guys. I have this Stephanie SoFi card. What is this SoFi? Personal loan? What's it for? Twenty-one thousand, four hundred and sixty-three at eight percent. What is this possibly for? You're going to Disney when we have an eight percent, twenty-two thousand dollar loan? Completely offsetting all and every retirement account by far that you have? And we're going to Disney. Great. What is this?
37:27 Speaker 01 So, we had a lot of credit card debt that we wanted to try to consolidate. Cause they all had, they all had like twenty, over twenty-something percent interest rates. So we figured the loan we could pay them off.
37:44 Caleb Hammer? So you guys haven't made progress. You're not a progress-making people. You haven't done anything. You haven't done anything of note. You, you, you're, there's nothing to celebrate here and celebrate with Disney. You're not paying on your student loans. You're spending triple what you make and you didn't pay off any credit cards. You just consolidated it.
38:02 Speaker 01 We paid off some.
38:06 Caleb Hammer? I guess I just have to trust that.
38:10 Speaker 01 Well, it, isn't it better to have the lower APR than?
38:14 Caleb Hammer? Mathematically, yes, but what happens in people's positions like yours who have not fixed their behavior first? Have you ever consolidated loans in the past?
38:23 Speaker 01 No.
38:23 Speaker 02 No.
38:24 Caleb Hammer? Okay, so what often happens is now your credit cards just go right back up. Not today, not tomorrow.
38:33 Caleb Hammer? But it can happen. That's what often happens. Cause I know you haven't changed your behavior. Again, triple the spending. It is literally documented. Documented.
38:43 Caleb Hammer? You know what's harder than sticking to a budget? Trying to predict the future of business. One day inflation sky high, the next is crawling back down. And interest rates up and down sideways. It's like a soap opera with no ending. Honestly, where's the business crystal ball when you need it? Until someone invents that NetSuite by Oracle is the next best thing. Over 41,000 businesses trust it as the number one cloud ERP system to future-proof their operations. NetSuite rules everything. Accounting, financial management, inventory, HR into one clean unified platform. Running a business is already stressful enough without juggling a bunch of disconnected tools. NetSuite gives you real-time insights and accurate forecasting so you can stop guessing
39:27 Caleb Hammer? and actually start making smarter decisions. Here's what I love. NetSuite can close your books in days instead of weeks. That's more time crushing your next big goal and less time crying over the spreadsheets. Whether you're pulling in millions or hundreds of millions, NetSuite keeps you ahead of the competition. You want to stay ahead of the curve? Download the free CFO's Guide to AI and Machine Learning at netsuite.com/hammer. It's full of insights that help you stay on top of your business game. Again, that's netsuite.com/hammer. Thanks to NetSuite for sponsoring today's video. Now, let's get back into today's financial audit. I'm being told you've been bailed out before.
40:05 Caleb Hammer? What does that mean?
40:06 Speaker 01 We've been in debt like twice, but we
40:11 Caleb Hammer? So, so it basically has happened, guys. Did you take a consolidation? No, but you got bailed out and then you built your debt back up. Good, what?
40:21 Speaker 01 So, we had probably like $15,000 of credit card debt like a few years into our relationship. And it just so happened that at the time she lost her job and
40:36 Caleb Hammer? Just so happened? People lose their job every day? This is why you have an emergency fund?
40:40 Speaker 01 Right, well, they gave her really good severance. She actually got severance for three months.
40:44 Caleb Hammer? Okay, plus you file for unemployment.
40:46 Speaker 01 She got another job within four weeks. So she started her other job.
40:49 Caleb Hammer? Wonderful, delicious, love it. Sounds like everything was perfect.
40:52 Speaker 01 We used this severance to pay off all of our debt and we actually brought it down to zero.
40:57 Caleb Hammer? But then the debt went back up.
40:59 Speaker 01 And then we brought it back up, back up to a little over 15,000 again.
41:06 Speaker 01 But then we ended up using the like covid stimulus checks and like a few other, we got like a couple larger amounts.
41:13 Caleb Hammer? For a big chunk to come in. That's your only way out of this. This is your repeating cycle. Ever and this is your version of the big chunk is now consolidating this debt. So just endlessly throughout your life debt, big chunk comes in debt gone, then we build that right back up, big chunk comes in debt gone, then we build it right back up, then big chunk. But this is a big chunk, this is debt you owe again. You're not gonna get another stimmy check, I don't think so. And severance is to allow you to survive. You got a job in four weeks last time, that's amazing. What if you don't this time after, you know, the severance might need to be there to survive. Guys, and but yet we're going two thousand plus one thousand in a single trip to Disney.
41:53 Caleb Hammer? Listen with the hotel and with how you did Disney this last time, what's not to suggest that you're gonna spend a thousand hours at Disney each time you fucking go? You're going two times next month and then one in March. You can't do this.
42:06 Caleb Hammer? You can't do this. You're repeating the cycle forever and you guys don't care. You guys don't care.
42:12 Speaker 02 The last time we were, I guess, before this time, we uh, we got into a car accident and so the car was totaled. And we got money back for the car, but we paid off that loan. And we used what was left to pay off more debt.
42:29 Caleb Hammer? So the cycle is now happening for the fourth time? Oh my, is there another one?
42:34 Speaker 01 Also got paid for being injured in the accident. So we got about nine grand.
42:38 Caleb Hammer? Separately?
42:39 Speaker 01 So we combined, yeah, so come.
42:42 Caleb Hammer? Oh, but even still, fourth time, guys, it's obviously not working. So maybe we don't follow what you think is right. As in, obviously, this Disney bullshit not working. So maybe we follow what is known to be right, relatively nor. Take our debt class, take our debt class, you can understand how bad your debt is, debt payoff strategies, what makes sense for your situation, and we're gonna help you by the end of this. Including creating a budget, you'll go through the budgeting classes, you guys have to be able to look at accounts together, you have to be able to go through all these together, take the quizzes. It's hours of education, but it's good, it can change your life. Literally over ten thousand people have taken this stuff.
43:21 Caleb Hammer? You go through it because you get it for free. Go through it. You guys get it for 15% off as a bundle, but you get it for free. So go through it, guys. And I'm gonna set you up with a counselor to talk about this too. It's just one of the resources. So we'll set you up with Domain Money. Uh, not Domain Money. Well, why not them too? I'll get you guys connected with the financial advisor so you guys can meet them. But then I'll set you down with the Sondermine, uh, three free sessions with them. So it's the resources that we get to provide that we partner with, okay?
43:49 Speaker 01 Okay.
43:50 Caleb Hammer? Okay. You can open a savings account with them and I love it, but instead you're just giving them money. Practically, you're giving me money.
44:00 Caleb Hammer? Oh, the monthly payment is eight seventy-five?
44:03 Speaker 01 Yeah, but that's-
44:04 Caleb Hammer? Eight hundred and seventy-five dollars, eighty-one cents?
44:06 Speaker 01 It's more, but the loans for three years, which I figured would be better than paying on credit cards for ten years.
44:12 Caleb Hammer? Well, sure, but even still, this is a seventh of your income and then you're still choosing to put your money other places.
44:20 Caleb Hammer? That is not beating it. That is not, you're not beating the market. Your retirement is probably not beating the market. Usually, eh, stock market up and down gets eight percent a year. This year sure has beat it, but next year, we don't know. You could go underperform. Like, the interest rate on this is horrendous. Let's keep going, I guess.
44:38 Caleb Hammer? Freedom Card. What's up with this?
44:40 Speaker 01 That's what we put the Disney passes on.
44:42 Caleb Hammer? We, but, okay, but you're not even on the card.
44:45 Speaker 02 Oh, we, yeah, we just use whichever cards.
44:48 Caleb Hammer? Yeah, you did three thousand sixty-four?
44:51 Speaker 01 Yeah, two thousand-
44:51 Caleb Hammer? Well, you said it was two thou- so was the other thousand. It's not like you guys have that.
44:56 Speaker 02 That was probably for just something else.
44:58 Caleb Hammer? Oh, just casually, casually, just something else. That's great. The interest rate period ends in three weeks.
45:07 Speaker 01 Yeah.
45:08 Caleb Hammer? You guys are so fu- Why do this to yourself again? Fourth time the charm? No, that's not how this works. Why would you try the same thing over and over again? And expect different results four times in a row, guys? This is so clearly not working.
45:25 Speaker 02 Well, we didn't expect to get large sums of money. We just so happened to.
45:28 Caleb Hammer? Yes, but then you didn't change your behavior once you paid off the debt and it went back up again. And this is the fourth time when that's gonna happen. You're building the debt right back up again. Again, you consolidated the credit cards. So what did you do? You put three thousand dollars on this one? You put two thousand dollars on the one previous?
45:44 Caleb Hammer? What the?
45:46 Caleb Hammer? It doesn't make any sense. We put 5,000 hours on the credit cards immediately after consolidating them? Is that, are you guys like? No offense, that is literally like what a stupid person would do.
46:00 Speaker 01 The thing is, is I figured, so I started working this year in March.
46:04 Caleb Hammer? Yeah.
46:05 Speaker 01 And when I started working, I figured that everything would kind of work out because we'd have actual income instead of living off of hers.
46:12 Caleb Hammer? Mm-hmm.
46:13 Speaker 01 So, I thought that it would just kind of balance out a little bit.
46:17 Caleb Hammer? Has a balance.
46:19 Speaker 01 No.
46:19 Caleb Hammer? Of course.
46:20 Speaker 01 It hasn't balanced.
46:20 Caleb Hammer? Yeah, because you spent three times your guys' household income. So, that's very far from balancing. There's not anywhere towards balance, not even double that would balance. And you spent three times your income. It doesn't make sense. Your income goes up, you guys spend double. Your income goes up, you just spend double what the new income is. You guys spend up? You, you, so you bring in 4,400 dollars in a month? You guys already added 5,000 hours to credit cards that we've looked at so far. And you bring in 4,400 hours a month? You just, you immediately just excuse to more spend. Your lifestyle inflates yourself and it's all fun. You're just like, oh, more income, more Disney.
46:59 Speaker 01 I just figured it'd be pretty easy to pay that off.
47:02 Caleb Hammer? You figured the f- wrong. It's not easy, dude. Look, you see how easy it was? You had to consolidate it. You never paid off any debt before. You've always just had big lump sums of money happen because of a world event or something almost catastrophic.
47:19 Caleb Hammer? Like what historical precedent would suggest that it will be easy to pay off for you?
47:23 Speaker 01 Well, a lot of, so the, the stuff that's on the loan, the debt that's on the loan mostly came from while I was in nursing school because I wasn't working. So we would use it to pay for groceries or whatever we needed to buy.
47:37 Caleb Hammer? Doesn't matter. That's not what this is.
47:39 Speaker 01 I know. I just figured that because I was working, we could pay off that nursing school debt we incurred.
47:49 Caleb Hammer? Instead, we're just not even making those payments.
47:53 Caleb Hammer? So we got Annie's hot dogs, only in San Francisco.
47:57 Speaker 01 Oh, yeah.
47:58 Caleb Hammer? Dulce Churro Cafe. Went inside Target, got some cheap, you know, twenty-six bucks, so it wasn't necessities. Republic Ramen. Big expense at Target, four hundred eighty-five. What do we go to Target for?
48:13 Speaker 01 Disney gift cards?
48:14 Caleb Hammer? No.
48:15 Speaker 01 Oh, wait.
48:17 Speaker 02 No?
48:18 Speaker 01 What day was that?
48:19 Caleb Hammer? Uh, it released process on the seventh of last month.
48:24 Speaker 01 I don't know what that would have been.
48:25 Caleb Hammer? Good, we don't even know where he spent five hundred.
48:27 Speaker 01 I bought my friend's Disneyland ticket.
48:29 Speaker 02 Oh, yeah, see?
48:30 Speaker 01 But she's paying me for it.
48:32 Caleb Hammer? And has she?
48:33 Speaker 01 She's paid for-
48:34 Caleb Hammer? It's been over a month!
48:35 Speaker 01 I know, but she's paid for part of it. She just, she just owes me like the other half of it.
48:40 Caleb Hammer? Well, good news. Then there's two thousand dollars of Disneyland tickets after that! And then more Target. Oh, wait, whoa, whoa, whoa, what is this? Oh, they're four eighty-five? There has to be another Disneyland ticket!
48:49 Speaker 01 Another ticket, another ticket.
48:50 Caleb Hammer? What is happening? What is happening? How is this a what are you guys? I've never met Disney adults before, at least I didn't think so. Whoa, is this what they're actually like? You guys are creatures. You guys are a fucking cult! They're, they're, they're, they're, they're spending so much money you don't fucking have! Three thousand dollars in Disney on this month, and then a thousand dollars on the other card, four thousand dollars to Disney in one fucking month? And you're going two times next month, then in one March, and then a million more times next year? Two times in the last couple of months?
49:22 Caleb Hammer? This doesn't fucking make sense. How does this keep going? How is Disney continuing to populate throughout this conversation? It's just fucking crazy. Is this not fucking crazy?
49:34 Speaker 01 Well, they're paying us, the two people we're going with at the end of January are paying us back for those tickets.
49:39 Caleb Hammer? It's been over a month. It is also risky. You're essentially loaning out on your credit card. A balance you have not paid.
49:47 Speaker 01 Well, she is our old roommate, and she's always paid on time, so I just trust her.
49:51 Caleb Hammer? Always takes once, just like your wants of not paying your student loans. Hey, you're a perfect example of what can happen.
50:04 Caleb Hammer? And are they paying you interest?
50:07 Speaker 01 No.
50:07 Speaker 02 No.
50:08 Caleb Hammer? Not that they would have to, but you're about to pay 25% interest on them in a couple of weeks.
50:14 Caleb Hammer? Balance is $3,024.24. The minimum monthly payment of $40 on your credit.
50:24 Caleb Hammer? Chase, Amazon. This one's also for Michelle.
50:27 Speaker 01 A lot of the credit cards are in my name.
50:29 Caleb Hammer? Why?
50:31 Speaker 01 Um. I. I don't really know. It's just kind of.
50:35 Speaker 02 She doesn't care, like.
50:37 Speaker 01 I just, I don't, yeah, I just have two, I think, in my name. And then the other ones are hers.
50:42 Caleb Hammer? You're not credit card people.
50:45 Caleb Hammer? You're not credit card people. Spend 816 on here, or 818. Again, this is even more spending with a now minimum payment of $280. $83. Balance $427. The spending is fucking out of control. No wonder you guys are in the position you're in. The spending is out of control.
51:09 Speaker 02 I think I'm the one who typically spends on that one. I think that's just my Amazon card.
51:14 Caleb Hammer? Amazon, Amazon, Amazon, Amazon, Amazon, Amazon, Amazon, Amazon, Amazon.
51:18 Speaker 02 A lot on Amazon.
51:19 Caleb Hammer? Interest accruing this year. Let me see your Amazon.
51:23 Speaker 02 Oh, I have multiple.
51:25 Speaker 01 No, it's just this one.
51:27 Speaker 02 Okay.
51:27 Speaker 01 Um, some of those are gifts for people.
51:31 Speaker 01 For birthdays.
51:33 Caleb Hammer? It's not even Christmas.
51:35 Speaker 01 And Christmas.
51:36 Caleb Hammer? You cannot afford things, guys. Miss Myers cleaning, gift, gift, gift.
51:44 Speaker 02 We didn't buy those Myers, get the Myers thing. I guess it was on a subscription.
51:50 Caleb Hammer? That little tennis skirt.
51:53 Speaker 01 That was for Disney, for her. My other tennis skirt got.
51:57 Caleb Hammer? Can play tennis at Disney?
51:59 Speaker 01 No, I just like.
52:00 Caleb Hammer? You wear clothes. Rain jackets, gray. Oh, guess what? More tennis dresses. Opaque fleece wind thighs.
52:10 Speaker 01 They're, they were tights.
52:12 Caleb Hammer? So that's you can just see through?
52:14 Speaker 01 So there, you can't see through them, but they look like skin color. I wore those under, under the tennis skirt.
52:20 Caleb Hammer? In LA?
52:21 Speaker 01 Yeah, actually Anaheim is pretty chilly, for me at least.
52:25 Caleb Hammer? Hair tags, you guys don't need or couldn't afford them. There's some dog food. Usually don't see that stuff being bought on Amazon. Lots of things for cats. Don't a hundred percent need all that right now, all the little jumpy jumpy's. Probably can't even afford the cats and dogs. Uh, gloves and what is this? A professional metal compass?
52:47 Speaker 01 I don't know what that is.
52:48 Caleb Hammer? The fuck are you doing?
52:50 Speaker 01 It's uh, it's for woodworking.
52:52 Caleb Hammer? Uh, it's, sorry, is it seventeen fifty?
52:54 Speaker 01 She likes woodworking.
52:55 Caleb Hammer? I don't give a, I like you being out of debt and being able to retire.
52:59 Speaker 01 My parents.
52:59 Caleb Hammer? Communicate on your spending or.
53:01 Speaker 01 We communicate a lot. Well, most of the time it's when she buys things on Amazon and it just shows up and I don't know what it is. And she'll tell me about it after she's purchased it, but she does return a good amount of stuff.
53:16 Caleb Hammer? I saw a couple of returns in there. I saw a million purchases.
53:22 Speaker 01 Yeah, and I will say I'm planning on returning one of the dress, the tennis dresses, because it didn't work out, but.
53:28 Caleb Hammer? What, after you got your sweaty Disney ass in it?
53:30 Speaker 01 No, I didn't wear that one. I just wore the skirt. I didn't wear the dress.
53:33 Caleb Hammer? Oh, this credit card balance is insane.
53:37 Speaker 01 Oh, that's the new one?
53:38 Caleb Hammer? This is your, it's a new one?
53:41 Speaker 01 Well, it's a balance transfer.
53:45 Caleb Hammer? So again, a fucking get, and then you built up your, and then you spent five thousand on this other one, five thousand five hundred. It's just.
53:55 Speaker 02 We have a long time to pay that one off.
53:56 Caleb Hammer? Guys, you're making me want to give up. You've done this repeatedly, over and over again throughout your life. And you don't seem to even suggest that this is a bad thing. It has not worked before.
54:10 Speaker 01 Well, I figured giving us a longer amount of time-
54:12 Caleb Hammer? You've figured a lot of [bleep] things throughout this conversation, and one of them has not been correct.
54:17 Speaker 01 Well, now that I have a job, that one, we have until 2026.
54:21 Caleb Hammer? When did you get your job?
54:21 Speaker 01 March.
54:22 Caleb Hammer? You've had a job! Since March. You didn't get it yesterday.
54:30 Caleb Hammer? The goals that you guys have, you're talking about having kids. Do you want a [bleep] house?
54:35 Speaker 01 Um, I think eventually we do.
54:37 Caleb Hammer? These goals, these wants, these are things you're not going to be able to do. Cause you're [bleep] around, and you're repeating the same mistake for the fourth time now. Major life mistakes, for the fourth time now. That is not acceptable. You get an excuse one or two times. We all make mistakes, I've made plenty, and we all still do. But you don't get to make them over and over again for the course of a decade and still be like [bleep] sympathetic towards it, you know? It's hard, you should have learned at this point. Oh, no, she's not okay.
55:17 Speaker 02 It won't stop.
55:18 Caleb Hammer? You have some sickness?
55:20 Speaker 01 Yeah.
55:20 Caleb Hammer? A little bit of-
55:21 Speaker 01 Well, she's not sick right now. She was sick like a couple of weeks ago, and the cough has lingered.
55:29 Speaker 01 I'm a nurse, don't worry, she's not contagious.
55:31 Caleb Hammer? You're what?
55:32 Speaker 01 I said, "I'm a nurse, don't worry, she's not contagious." I wouldn't let her be here if she was.
55:38 Caleb Hammer? You guys are doing your minimum payment, wonderful, seventy-five bucks a month. Uh, seventy-four. How long does this take to pay off? Guys?
55:46 Speaker 01 Um...
55:49 Caleb Hammer? How long does it take to pay off, guys?
55:51 Speaker 01 With the minimum?
55:53 Caleb Hammer? Yeah.
55:53 Speaker 01 I don't know, like...
55:57 Speaker 01 Maybe like five or six years?
56:00 Speaker 02 That's it?
56:01 Speaker 01 I don't know. What do you think?
56:03 Speaker 02 Is it that much?
56:05 Speaker 01 Seventy-five dollars a month. And it's at like seventy-three hundred. Five years?
56:09 Caleb Hammer? Maybe not. Oh, she went under, okay, thirteen years.
56:13 Speaker 02 Oh.
56:22 Caleb Hammer? Big fee, balance transfer fee, three hundred and sixty dollars.
56:28 Caleb Hammer? Thirteen years to pay off, is that what I said?
56:31 Caleb Hammer? Okay, the interest free period ends in a year and a half, not even, a year and four months. So, that's gonna be a lot of interest being paid.
56:43 Speaker 01 I think, I thought that was enough time to pay it off.
56:46 Caleb Hammer? Again, it would be if you're, if you, it would be if you were disciplined, it would be if your other debts weren't going up, it would be if you didn't spend three times your income, it would be if you wouldn't have your wages garnished for not paying interest on loans. Yes, it would be if you did the opposite of what you're doing. So in what world would you actually be able to, if you continued the way you're doing, plus three Disney's planned? Seventy, that, that doesn't make sense. That doesn't make sense. I need to make sure you know, that does not make sense. You can't continue to have these thoughts in mindset, cuz it is not true.
57:29 Speaker 01 I just figured I'd give myself more time.
57:31 Caleb Hammer? I'm gonna die, I'm gonna myself, what do, what the fucking, what the do you mean?
57:36 Speaker 01 Because we, cuz that debt was again mostly from nursing school, so, and it was on a car that had a pretty high interest rate, so I, I thought I would, I had started working, but we were paying off all the other cars.
57:50 Caleb Hammer? So you're gonna pay it off before interest hits? How much does it take to do that on a monthly basis?
57:55 Speaker 01 I'm not sure.
57:56 Caleb Hammer? Oh, but we're so confident that we're gonna do it and we don't know the fucking number?
58:01 Speaker 01 Well, we were trying to focus on the things with interest rate.
58:03 Caleb Hammer? Uh huh, and then all of a sudden you just randomly have an extra seven thousand dollars to pay it off?
58:09 Caleb Hammer? How much, on a monthly basis, guys, starting today?
58:15 Speaker 01 I don't know, a few.
58:16 Caleb Hammer? Four hundred and sixty-three dollars a month, gotta round up, four sixty-four. Yeah?
58:23 Speaker 01 Yeah, that sounds about right.
58:25 Caleb Hammer? Yeah, it sounds about what you're not doing. Let's see, is it deferred?
58:30 Caleb Hammer? No, I don't think so.
58:33 Caleb Hammer? It keeps going, my gosh. Okay, uh, more Stephanie. Apple Card. Why you guys have so many cards? You obviously are not credit card people. You can use the, the type of credit cards that act like debit cards, like the Fizz Card. It's the one we work with, where it only lets you spend what's in your account. But you guys just spend all the money. All the money that you don't have. You're not credit card people. You owe 214.56 on this with a minimum payment of 125. What did you get?
59:04 Speaker 01 I think we have some...
59:06 Caleb Hammer? We?
59:07 Speaker 01 Well, I-
59:08 Speaker 02 I have Apple Card as well.
59:09 Speaker 01 She does, but we-
59:10 Caleb Hammer? Oh my gosh, so subscription. Oh, the more- Disney! You! I can't believe this. I've never heard or said of Disney more in my life in a day than today. Netflix Starbucks World of Disney 4308. And then Tiana's Place.
59:31 Speaker 01 It's a restaurant at Disney.
59:32 Caleb Hammer? Wonderful.
59:45 Speaker 02 We got the Apple Cards because we're like big Apple people, so then we-
59:49 Caleb Hammer? Wait, no, no, no, wait a second. No, no, no, you also owe an additional thousand.
59:55 Speaker 01 Yeah, we have installments for my phone.
59:57 Caleb Hammer? You do? Or both on this?
59:59 Speaker 01 Both of us.
1:00:00 Caleb Hammer? On this card?
1:00:00 Speaker 01 Not on this card.
1:00:01 Caleb Hammer? Okay, well, so this thousand is you.
1:00:03 Speaker 01 Is me.
1:00:05 Caleb Hammer? Yeah.
1:00:06 Speaker 01 For my phone.
1:00:07 Caleb Hammer? Apple Store, Apple Store, Apple Store, Apple Store, Apple Store. I see four, five different things.
1:00:11 Speaker 01 So I have my phone, and then I got an iPad with an Apple Pencil.
1:00:16 Caleb Hammer? You needed that.
1:00:16 Speaker 01 So that was actually because I just recently opened a small business, and I was using it for my small business.
1:00:22 Caleb Hammer? Yeah, what's your small business?
1:00:23 Speaker 01 I have an embroidery shop, where I embroider like sweatshirts and shirts.
1:00:29 Caleb Hammer? How's that going?
1:00:30 Speaker 01 Um, I just opened it in November, and so far, I have, I've sold two sweatshirts, and I have four that I'm making right now.
1:00:36 Caleb Hammer? Uh huh, and how much did you put into it, including all the equipment and everything versus how much you've made? Let's chat about your savings first. If you're letting them just sit in a regular account, especially one with a low interest rate, you're missing out. It's time to talk about CDs or certificates of deposits. And I've partnered with money.com to make finding the perfect fit for you as easy as it can be. With CDs, your money earns more interest than it typically does in your regular savings account. But the savings you don't touch but want to grow in the meantime, money.com has made a lineup of the best CDs from top banks all in one place. You can easily compare options and see which one suits your financial game plan the best. But why should you care? Because with CDs, you're not just saving money, you're actively growing it. They're safer, they're steady, and they come with guaranteed returns.
1:01:20 Caleb Hammer? No stock market up or downs, just good old predictable growth. So check out money.com's list of CD choices at the link in the description below. Finding a CD that fits your savings timeline and goals is important. And only a few clicks away, trust me, your future self will thank you. This is a paid endorsement sponsored by money.com, which is compensated by its marketing partners.
1:01:39 Speaker 01 Um, I put in about $4,000. And then I've made about $60 so far, but I just opened it.
1:01:48 Caleb Hammer? Mind you, you're not paying on your student loans, I don't give a [bleep]. I wouldn't have done this yet. You can take a risk like that.
1:01:56 Caleb Hammer? When you have the ability to take that risk, you already have risk hanging over your head. Unbelievable risk. So that's why the minimum payment was so high, that makes sense.
1:02:05 Speaker 01 Yeah.
1:02:05 Caleb Hammer? And it's a 20.7% variable interest. Apple Card, right? Yep, yep, yep. Okay. Balance of 309.13 with a minimum monthly payment of $96.11. Congratulations, you won the Apple Wars, your minimum monthly payment is better.
1:02:27 Caleb Hammer? More Amazon purchases, and then we went into Target and got some [bleep].
1:02:34 Speaker 01 Um, that's my therapist I go to.
1:02:37 Caleb Hammer? Okay, well, I support that. That's good. Remind me of that payment when we do the budget. And then you have two Apple things, so you actually owe an additional 8,000, eight, or sorry, $883.63 on two Apple things. One was $1,019, another was $344.
1:02:53 Speaker 01 Um, one is actually my sister's, her cellphone. She pays me monthly for it.
1:02:58 Caleb Hammer? Great, until she [bleep]. You know, gets hit by a car tomorrow and they can't. I hope it doesn't happen.
1:03:03 Speaker 02 And then the other um is my watch.
1:03:06 Caleb Hammer? But it could happen. Your watch?
1:03:09 Speaker 02 Apple watch.
1:03:10 Caleb Hammer? Let me see.
1:03:10 Speaker 02 I actually.
1:03:11 Caleb Hammer? Uh huh, exactly. It's what always happens.
1:03:14 Speaker 02 No, I wear it. It's just like.
1:03:15 Speaker 01 It's in the hotel room.
1:03:16 Speaker 02 It's in the hotel room right now because it wasn't charging.
1:03:18 Caleb Hammer? It's getting big use. Interest charging, uh eighteen point seven percent interest. Yes, yes, yes, yes, yes.
1:03:30 Caleb Hammer? It could.
1:03:33 Caleb Hammer? Gosh, there's so much paper here. Alright, Michelle, we're back.
1:03:38 Caleb Hammer? This is IHG.
1:03:40 Speaker 02 That's the hotel.
1:03:41 Caleb Hammer? This is your special little hotel thing. Eight hundred eighty dollars and sixty three cents with a minimum monthly payment of forty dollars.
1:03:49 Caleb Hammer? Yeah, you just put brand new purchases and then ninety nine dollar fee. What is that? Is that any annual store card fee?
1:03:55 Speaker 02 That's the annual fee for the card.
1:03:58 Caleb Hammer? So.
1:03:59 Speaker 02 Yeah, we actually have to spend like three thousand on it to get our bonus.
1:04:03 Caleb Hammer? And what's the bonus?
1:04:04 Speaker 02 A hundred and forty thousand points.
1:04:06 Caleb Hammer? Which equates to in dollars?
1:04:08 Speaker 01 I don't know, but it was like a.
1:04:10 Caleb Hammer? Mind you, a hundred dollars a year.
1:04:13 Speaker 02 I think it's like five nights that you get.
1:04:16 Caleb Hammer? Five nights where? How much?
1:04:18 Speaker 01 In like most of their.
1:04:20 Caleb Hammer? Yeah, well, shocker, it's hotel.
1:04:22 Speaker 01 That was for my birthday Disney trip.
1:04:25 Caleb Hammer? Yes, one of the bajillion Disney trips, of course it is.
1:04:30 Caleb Hammer? Is that all the debt, guys? Went over the student loans. Is that all the debt?
1:04:34 Speaker 01 The only other one we have is she has student debt, but it's involved in some like weird case right now, so it's deferred.
1:04:41 Caleb Hammer? What?
1:04:42 Speaker 02 Oh, it collects interest, but.
1:04:45 Caleb Hammer? I E. It's in a uh, are you trying to tell me it's in a uh income based repayment plan?
1:04:50 Speaker 01 No, so it's in some weird case where they may or may not be wiping.
1:04:54 Caleb Hammer? Did you go to a potentially sketchy school?
1:04:57 Speaker 01 No.
1:04:58 Speaker 02 No.
1:04:58 Caleb Hammer? Okay, what are you talking about then?
1:04:59 Speaker 01 Do you want to explain?
1:05:00 Speaker 02 Well, um.
1:05:03 Speaker 02 I don't, I don't know. It's just some case that um I got emailed about.
1:05:06 Caleb Hammer? A go on.
1:05:08 Speaker 02 I don't know. It was just a, I was part of it. And I don't really know much about it.
1:05:12 Speaker 01 It's like some weird fraud thing that they may or may not be wiping the loans.
1:05:16 Caleb Hammer? Yeah, cuz the school?
1:05:18 Speaker 01 I guess it was that.
1:05:20 Speaker 02 I don't know.
1:05:21 Caleb Hammer? What do you mean they maybe? They haven't decided or?
1:05:23 Speaker 02 I think they're supposed to be like a date. So there was two groups.
1:05:27 Caleb Hammer? How much in student loans?
1:05:29 Speaker 02 Um thirty two thousand.
1:05:31 Caleb Hammer? Oh, and what was your minimum?
1:05:34 Speaker 02 Um, I've never had to pay on it. Um, it's always just been deferred.
1:05:41 Caleb Hammer? Via you?
1:05:42 Speaker 02 Um, no.
1:05:44 Speaker 01 From that weird thing.
1:05:45 Speaker 02 Well, that, that.
1:05:46 Caleb Hammer? So the case has been going forever?
1:05:48 Speaker 02 No, that was recent.
1:05:49 Caleb Hammer? And you're not requesting deferments?
1:05:51 Speaker 02 No.
1:05:52 Caleb Hammer? Are you on an income based payment?
1:05:53 Speaker 02 No. I don't know. I just.
1:05:56 Caleb Hammer? Why didn't you bring a statement for us to look at cuz I might be able to tell you?
1:06:00 Speaker 02 Oh, well, I just figured cuz it was in that thing that was.
1:06:02 Caleb Hammer? Yeah, but don't you wanna know more about it?
1:06:04 Speaker 02 Well, yeah.
1:06:05 Speaker 01 Don't you? She has an email about it. I just can't, I can never remember what it was for.
1:06:10 Speaker 02 I just didn't really think about it because they said.
1:06:12 Caleb Hammer? And it's very scary.
1:06:14 Speaker 02 They said that um, uh, it'll be wiped if like.
1:06:18 Speaker 01 If they don't make a.
1:06:19 Speaker 02 If they don't make a decision by a certain date.
1:06:20 Speaker 01 Yeah.
1:06:21 Speaker 02 Which is like next year.
1:06:26 Caleb Hammer? Any other debt besides that?
1:06:28 Speaker 01 We are paying, there's no statement for this cuz we're just paying a family member for our car cuz we bought the car from them.
1:06:35 Caleb Hammer? What car?
1:06:36 Speaker 01 The car.
1:06:36 Caleb Hammer? What is it?
1:06:37 Speaker 01 We have a Mazda three.
1:06:39 Caleb Hammer? Year? Miles?
1:06:42 Speaker 01 Hundred and sixty.
1:06:44 Caleb Hammer? Okay.
1:06:45 Speaker 01 We owe eleven hundred left on it and we pay her one hundred and fifty a month, which is what she wants. So.
1:06:51 Caleb Hammer? So it's almost, well, it's took almost a year.
1:06:56 Caleb Hammer? Okay, now is there any more debt?
1:06:59 Speaker 01 No.
1:07:01 Caleb Hammer? Okay.
1:07:04 Caleb Hammer? Okay, so SoFi, you guys do have the SoFi account, see?
1:07:06 Speaker 01 Mm-hmm.
1:07:07 Caleb Hammer? And I like it, I use it too. And for my emergency fund, you have the checking account. Uh, you use, okay, uh, beginning balance 184, current 2004, okay. So much is bullshit. Panda Express, Panda Express. QT inside, Apple cash being sent, Panda Express. TJ Maxx.
1:07:29 Caleb Hammer? What, oh, this is so much. More Amazon. Costco, it's hard to tell, but these are really cheap purchases, meaning that they don't really seem like necessities. Like, who's going and getting the $3.25 necessity from Costco? Sounds like a glizz.
1:07:43 Speaker 01 Probably it is.
1:07:44 Caleb Hammer? Doubled up glizz, maybe. See? Uh, go, be some BS from Target, some vending machine. Ice cream, Starbucks, Amazon. Glizzing it up, Raising Cane's, Starb- why don't you guys glizzing so much? PayPal and Uber Eats, for fuck's sake!
1:08:02 Speaker 01 That's the only, we don't actually use those delivery services a lot. I was at work and I work at night, and so the cafeteria was closed, so I had to Uber eat something for lunch.
1:08:10 Caleb Hammer? I think Michaels hates lesbians.
1:08:12 Speaker 02 I think that's Hobby Lobby.
1:08:13 Speaker 01 I think Hobby Lobby.
1:08:15 Speaker 02 Or maybe it's Michaels too, I don't know.
1:08:16 Speaker 01 Maybe.
1:08:17 Caleb Hammer? Maybe I don't.
1:08:18 Speaker 01 A lot of people do.
1:08:19 Caleb Hammer? Follow who hates who.
1:08:22 Caleb Hammer? World Market, who do they hate? Starbucks. Einstein's Bro. Uber Eats again, $21 bucks. Some bullshit, Target, probably, Zalnoff 50. Some cafes, Starbucks, Starbucks.
1:08:39 Caleb Hammer? Talking Sticks Resorts. Resorts Fry. PayPal paying for 270? The fuck is that?
1:08:48 Speaker 01 That was for my embroidery machine, for my small business.
1:08:51 Caleb Hammer? For your small business, you just say for my small business. Come on, you haven't made anything, uh, you can do that later, you don't need that now for my small business. I love small business, do it, it's great. You don't have that level of risk or savings.
1:09:08 Caleb Hammer? Amazon?
1:09:08 Speaker 02 I think we're done paying that one off.
1:09:11 Caleb Hammer? Yes, but you put so much money into it that it could have been paying off debt. Changing behavior, saving for retirement, saving for an emergency fund. Amazon, Walgreens, we got some bullshit Walgreens, bullshit Walgreens, probably.
1:09:22 Speaker 01 Those are probably medications.
1:09:24 Caleb Hammer? I hope so. Panda Express, Apple Cash sent out, McDonald's, some glizzing it up. Stores, it's called **** store. Seven fifty-seven. Amazon, Amazon, Blackrock Coffee Store again, seven fifty-seven. The **** store, guys.
1:09:39 Speaker 01 I have no idea. I have no idea what that is.
1:09:42 Caleb Hammer? They must not either. Uh, okay, I guess no one. Uh, High Flying Foods, bullsh at a gas station, bullsh at the gas station. Went in and got some bull, Target and Zaln, not a thousand dollars to **** who?
1:09:56 Speaker 01 That's our rent to her brother.
1:09:57 Speaker 02 My brother.
1:09:58 Speaker 01 It's his house.
1:09:59 Caleb Hammer? This is so interconnected and weird. It is like **** incest on your side. Financial incest, everything is intertwined. Gotta stop. It causes weird drama eventually, you just haven't experienced it yet. If you have, you should have learned your lesson. Casino? Really, guys? Einstein, Einstein, glizzing it up, Amazon, Amazon. This is so **** long! Ha! My throat's starting to hurt.
1:10:29 Caleb Hammer? Mickey had a turn with me. Bag-o crab, Hot Stone, Taco Bell, Sonic Drive-Thru, City Pass, one hundred and sixty-two. Apple Bill, Penn, Uber, well, more Uber, Uber Trips, Starbucks. Ah!
1:10:49 Speaker 02 Is our roundup on that? Is that why?
1:10:51 Speaker 01 Well, they-
1:10:52 Caleb Hammer? No, it's not!
1:10:54 Speaker 02 No?
1:10:54 Caleb Hammer? It's not! Oh, it is a little, there's a little. But it's not that much. Popeyes, Blackrock, also your spending's uh, insane, still regardless of roundup. Went in and got some bull, and Amazon and Apple Cash and Apple Cash and
1:11:10 Caleb Hammer? You got some bull, Target probably, and Went in the gas station, got some bull, ninety dollars of Apple Cash being sent out. Another Apple Bill, Taco Bell, Peacock, Peacock, what the ****, what are you watching on Peacock? Area, Arena, twenty-three, Amazon, Amazon, Ohno, five-one-eight. Italian, Dutch Bros, Dutch Bros, Gravity Coffee, Venomate Not Twenty-five, Besiding Car Wash, guess you are in a desert.
1:11:38 Caleb Hammer? Desert snow, that's when I'm okay with it. Even still, for just me and its purposes, a car. That it was so many pages of bull. Pure bull.
1:11:50 Speaker 01 We don't cook a lot, cuz I'm not, I, we're on different schedules, so sometimes it's hard for us to coordinate with who's cooking.
1:11:58 Caleb Hammer? Meal prep! Warm it up! For fuck's sake, guys! You're 28 and 27, you're not 12!
1:12:09 Speaker 01 Meal prep food is like, never good.
1:12:11 Caleb Hammer? Good?
1:12:12 Speaker 01 Yeah.
1:12:12 Caleb Hammer? You're good. Being in debt's never good. Duh! That's not true, there is good debt. Not your versions! Not being able to retire is never good. And maybe make better food. Learn how to use some seasoning here and there. If I took that amount of money, and just put it in my mu mu account, my investing account that I use, that shit would've just been growing. That money would just be growing and compounding. It'd be making money, instead you're just throwing it all away. Thousand dollars spent going out to eat in one month, by the way. Thousand dollars. Yeah. Good joke. Everything, everything you guys are doing is a joke. You're living like children. Good luck having any with that mindset. Okay, see, here we go. Eleven thousand dollars in your retirement, that's pretty okay.
1:12:57 Caleb Hammer? You know, I'd want you to be a little more by the time you're approaching 30 in a couple of years, but we are on a track. Close to a right track. Yeah.
1:13:07 Caleb Hammer? You?
1:13:09 Speaker 01 I just started it.
1:13:10 Caleb Hammer? Yeah, you did. You were in school for so long. Is this the same thing, or is this a separate?
1:13:14 Speaker 01 Um, no, those are separate.
1:13:16 Caleb Hammer? Good, so we're looking more 22,000 for you.
1:13:19 Speaker 01 And then I have, at my current job, it's at...
1:13:24 Caleb Hammer? Who has the traditional IRA?
1:13:25 Speaker 01 Me.
1:13:27 Caleb Hammer? Oh, so this is even more? Okay, you're, you're, you're...
1:13:32 Caleb Hammer? Yeah, you're on track, I think. You're, you're on track. You are on track, which means, though, if we're married, we're only half on track. So... Let's see where this all comes to. So 7,000 dollars on a monthly basis, not gonna put any of your business income in there, that's for sure. I'm gonna put the big minimum monthly payment for that one credit card, so we can pay it off before interest starts to ruin. It's just like, let's not be stupid.
1:13:57 Caleb Hammer? That's gonna push our... Our debt minimum monthly payments are already insane without just that. I don't, I don't know how you guys have allowed this.
1:14:06 Caleb Hammer? And if your student loans kick in, you're probably at about 400 bucks a month. If that all goes to minimum monthly payment guys on This can't be true. Do I need to re-add this? I'm gonna re-add this because that seems insane.
1:14:22 Caleb Hammer? Yeah, I got it wrong. But now I don't.
1:14:28 Caleb Hammer? Debt minimum monthly payment is 2,272 and 30 cents. Which is pretty wild. It's it's it's you know, it's pretty darned close to half your income. Half your net. I don't know why you guys are allowing this or accepting that. How much is rent? A thousand?
1:14:44 Speaker 01 Yes.
1:14:44 Caleb Hammer? What about utilities?
1:14:46 Speaker 01 Um, we pay 150 for water and then electricity is 270.
1:14:52 Caleb Hammer? No gas?
1:14:54 Speaker 01 That's included with the water.
1:14:55 Caleb Hammer? Internet?
1:14:56 Speaker 01 Um, 55.
1:14:58 Caleb Hammer? Insurance insurance?
1:15:00 Speaker 01 We don't have it.
1:15:00 Speaker 02 We don't. My brother will pay for that.
1:15:03 Speaker 01 He has like homeowner's insurance or whatever for the house.
1:15:07 Caleb Hammer? I'd get it just to be extra safe if you're legally renting it through. I'm putting 20 bucks in there. Get it. Okay, phone bills? What are we looking at? Are we together?
1:15:16 Speaker 01 My dad pays for mine. It makes his line cheaper, so he says he wants it all.
1:15:20 Speaker 02 Uh, mine's 40.
1:15:22 Caleb Hammer? That's not bad. It's actually not bad. Okay. Gas, room, room, drive, drive?
1:15:28 Speaker 01 Um, probably about 160 a month.
1:15:30 Caleb Hammer? For both?
1:15:31 Speaker 01 Because we have one car.
1:15:32 Speaker 02 I'm I work remotely.
1:15:34 Speaker 01 She works remotely, so it's just really.
1:15:35 Caleb Hammer? Work remotely and well, guys, we don't have time to get any food from the kitchen.
1:15:42 Caleb Hammer? Car insurance?
1:15:43 Speaker 01 153.
1:15:45 Caleb Hammer? Hmm, definitely not the worst. TP fund, anything else to survive, giving you guys 200 bucks. This is nails, this is makeup, this is toilet paper, this is whatever. This tampons, it is everything you need to survive. It is not covered in this additional stuff. You apply it more detailed, going through the budgeting class that you need. Okay, groceries. I'm gonna give 600 bucks. Follow the meal plan in that class.
1:16:07 Caleb Hammer? Medical healthcare, um, okay, therapy, how much is it on a monthly basis?
1:16:10 Speaker 02 Um, well, it really just depends on when I want to go.
1:16:14 Caleb Hammer? Well, give me an average then.
1:16:18 Speaker 02 Fifty?
1:16:19 Caleb Hammer? Okay, medications, monthly?
1:16:22 Speaker 01 Um, like, that's like two fifty.
1:16:26 Caleb Hammer? Two hundred fifty dollars?
1:16:27 Speaker 01 Yeah.
1:16:28 Speaker 02 For what?
1:16:29 Caleb Hammer? I didn't see that. She doesn't even know. For what?
1:16:31 Speaker 01 No, it's for your, um.
1:16:33 Speaker 02 Oh, yeah.
1:16:34 Speaker 01 Her.
1:16:35 Speaker 02 Yeah.
1:16:36 Speaker 01 And she gets those, the injections from like the compounding pharmacy. They're like semaglutide injections, so they're like.
1:16:44 Caleb Hammer? What's that?
1:16:45 Speaker 01 Two, that's like Ozempic, but like the cheap version.
1:16:47 Caleb Hammer? Okay. Anything else medical?
1:16:50 Speaker 01 No.
1:16:51 Caleb Hammer? Have you lost weight?
1:16:52 Speaker 01 Yeah.
1:16:53 Caleb Hammer? How much?
1:16:54 Speaker 02 Hmm.
1:16:55 Caleb Hammer? Over how long?
1:16:56 Speaker 02 Like fifteen, um, and.
1:17:01 Speaker 01 Like four-ish months, I think.
1:17:02 Caleb Hammer? With all this eating out, I'm surprised, honestly.
1:17:06 Caleb Hammer? Good job, good job. You have pets, how much for pet food?
1:17:10 Speaker 01 We spend, well, yeah, probably about like two fifty for pets, because we have five cats and a dog.
1:17:18 Caleb Hammer? And they all have pet insurance?
1:17:20 Speaker 01 No, so we don't have pet insurance, and we were looking into it when our dog got sick earlier this year.
1:17:25 Caleb Hammer? Yes.
1:17:26 Speaker 01 But now that she, she has, it's like considered a pre.
1:17:31 Caleb Hammer? What was her sick?
1:17:32 Speaker 01 She was like severely dehydrated and had like giardia. And then one of our cats too, he's had a bunch of illnesses before, so if you're like getting it for them.
1:17:42 Caleb Hammer? Can you get the other cats? I'd get them just for those who you can. Get a budget in a hundred fifty. Because they literally save you thousands. You're not gonna let them die, and if you can't afford pet insurance, you can't afford pets. Anything else that needs to be in your budget that I have not put in? Speak now.
1:18:00 Speaker 01 I don't think so.
1:18:03 Caleb Hammer? Okay, yep, we still have enough. I'm not gonna give you any fun, because this is so stupid. I've been doing it, and you need to learn discipline financially for the first time in both y'all's lives. So, eight seventy-nine left on a monthly basis. Okay?
1:18:28 Caleb Hammer? That is, but, that is paying off the, uh, the, uh, Stephanie's USA Bank by the time that interest accrues, so. We'll cross that off, because that gets us there. I put that on your minimum monthly, so, yeah?
1:18:48 Caleb Hammer? I had minimum monthly payment on your student loans until they're paid off. Yours, probably same once you get them.
1:18:56 Caleb Hammer? So we have to work to pay off, outside of tho- those, thirty thousand, four hundred and nineteen dollars of bad debt.
1:19:07 Caleb Hammer? We should never have allowed us to get in this position. It takes thirty-four months. It's not the worst. It's about three years. It's about three years, but you guys got yourself into a three-year mess. But that doesn't include being able to go to Disney once. At all. If you do... If you do go to Disney,
1:19:28 Caleb Hammer? I will allow you to go make more money with the second job, someone, both of you, whatever it is, or raises, or whatever. And once you're able to put a thousand dollars towards, uh, the debt, to pay it off in two and a half years, I will allow you to put a little aside over a thousand dollars. After you put a thousand dollars towards that, towards Disney things, if that's what really keeps you going throughout the situation. But a thousand dollars a month needs to go to a minimum. If you're not willing to go get another job, then you're not going to Disney. This takes three years to pay off, and then probably another seven months to get an emergency fund or something. That's what this is looking like.
1:20:01 Speaker 01 My job does have a lot of, uh, overtime opportunities, so...
1:20:05 Caleb Hammer? Take them. Nurse them.
1:20:09 Caleb Hammer? Put in those needles. Whatever you guys do. Okay?
1:20:15 Speaker 01 Okay.
1:20:18 Caleb Hammer? There's options here. Consolidations going forward are not it. Now it's a discipline change. Now it's a maturity change. Now it's finally taking control for the first time in our entire [bleep] life. You can pay this off in two and a half years, even quicker if you really want to, take more overtime, get more raises, pick up a second job, whatever you guys need to do. But you're not allowed to go to Disney unless you're putting literally a minimum of a thousand dollars a month towards this debt and then an emergency fund after that. That is when you're able to go to Disney. Probably not as much as you do. I would still put more towards the debt because maybe we'll swell, get out of this in two years rather than three. Why go to thirty and thirty-one? Why be there when you pay off debt? Let's be thirty and twenty-nine instead. It's a little better.
1:21:02 Caleb Hammer? And you can get, you know, we're about halfway of where we need to be so far for the retirement. Actually, a little less because it's not an equal split. You do make less. You make half as much, meaning you guys are about a third of the way to your retirement goal in a few years from now. Okay? About a third of a way. So you're behind. You're behind. But you can change it. This is sacrifices you needed to do now. Disney's not really in the picture unless you do it the way I discussed. All right, guys. Join us. Join us in the post-show. We have, that's where we have all the extra Goony Wild conversations. We talk about some more juicy stuff that we can't talk about on the maiden show for demonetization and privacy reasons. Make sure to join us.
1:21:46 Caleb Hammer? Join Hammer Elite for the best value over a thousand dollars of extra content. Let's get your Hammer financial score. Spending in a budget you overspent, zero out of ten. Debt? No collections. That's really bad debt. I can't give it any better than a two out of ten because it's basically as bad as, it's close to as bad as it gets. Um, emergency fund? There wasn't savings, was there?
1:22:07 Speaker 01 No.
1:22:09 Caleb Hammer? Guys. You're going to [bleep] Disney. That's a joke. Zero out of ten. Retirement, again, you're about a third of the way there. I'll be generous and give a four out of ten. I can't. Now it's a three out of ten. Real estate, zero out of ten.
1:22:25 Caleb Hammer? Hammer Financial Score, you hit it. 1 out of 10. All of our education is bundled together for 15% off. Link in the description below. I'll see you guys in the post show. It'll be fun as always.
1:22:38 Speaker 01 We still owe for the wedding.
1:22:40 Caleb Hammer? What do you mean you owe for the wedding? Our debt payoff strategy is three years with literally no fun? So that's more debt?
1:22:48 Speaker 01 Yeah, and I did.
1:22:49 Caleb Hammer? Oh, for fuck's sake, for fuck's sake? What, what, what possibly? How much more debt for the wedding? You've ruined this whole fucking thing. No!
1:22:58 Speaker 01 We still owe.
1:23:02 Caleb Hammer? To watch the financial audit post show, click the join button below.
Previous She’s Back | Financial Audit Next Arrogant Freak Thinks He Knows More About Money Than Me | Financial Audit Page updated November 5, 2026 · transcript and summary are machine-generated