"Financial Audit Doesn't Work"

Wait... wait wait... *WTF* ?!?! She owes her *TENANT* money!! How, and she can't even pay it back.. this post show is insane, watch here : ➡️ https://bit.ly/chpostshow 🎁 Claim the Ultimate Hammer Bundle HERE → https://bit.ly/ultimate-hammer-bundle 🔥 GamerSupps: tasty, cheap ($0.25/serving)! Save 10% with code CALEB: https://gamersupps.gg/caleb 👉 Checking & Savings: Get up to a $350 bonus with a new Chime® Checking account, and earn up to 3.50% APY on your savings: https://chime.com/calebhammer ============================= *Sponsors for This Video* ============================= Use Yrefy to refinance your private student loans today at: https://yrefy.com/hammer or call (888) Yrefy-78 Wayfair. Every Style. Every Home. https://Wayfair.com ============================= Master Your Money with Caleb Hammer ============================= ⚡️Budget YOUR dream life with my simple courses: ➡️ https://bit.ly/calebhammer ⚡️Check out all of my custom Financial Audit merch: ➡️ https://bit.ly/caleb-merch ============================= *Check Out My Resources* ============================= 👉 Get a $40,000 cash bonus by investing with Webull! https://www.webull.com/k/Caleb 👉 Checking & Savings: Get up to a $350 bonus with a new Chime® Checking account, and earn up to 3.50% APY on your savings: https://chime.com/calebhammer 👉 Land a high-paying job with no experience or degree: ➡️ https://coursecareers.com/CalebHammer 👉 Get $20 from Acorns for free: ➡️ https://acorns.com/caleb 👉 First 100,000 Fizz sign-ups with code HAMMER10 get $1.0: https://www.joinfizz.com/caleb 👉 Helium Mobile: Use promo code CALEB for a FREE plan ➡️ https://hellohelium.com/ 👉 Protect your online privacy and security for free with Aura: ➡️ https://aura.com/hammer 👉 Get an exclusive HighLevel 30-day trial: https://gohighlevel.com/calebhammer ============================= *Chapters* ============================= 00:00 Intro 05:05 nuance nuance nuance 16:40 red means stop, lady. 27:45 its really not a hard concept 37:20 oh brother 55:01 thats an awkward trip… 01:05:10 Seattle attitude lol 01:27:38 Budget!! ============================= Want more content? ============================= 🍿 Financial Audit Follow-Ups here: / @financialauditfollowups 🍿 Caleb Hammer Livestreams: https://bit.ly/caleb-live 🍿 Livestream Cutdown VODs: / @livecalebhammer ============================= *Connect with me!* ============================= TikTok: https://x.com/sircalebhammer IG: https://www.instagram.com/calebhammercomposer/ Facebook: https://www.facebook.com/calebhammercomposer/ ============================= *Want to be a guest on Financial Audit?* ============================= 👉 We film weekdays in our studio in Austin, Texas (in person only)! To apply, visit: https://calebhammer.com/apply *Some of the links and other products that appear in this video are from companies for which Caleb Hammer will earn an affiliate commission or referral bonus. This is not investment advice. Sponsorship and business inquiries: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

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

• 0:00Speaker 00

  This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed sponsored jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Hiring now? Then this is a job for Indeed sponsored jobs.

• 0:31Speaker 01

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• 0:59Caleb Hammer?

  To watch episodes of Financial Audit a week earlier, check us out on YouTube. You got a car you couldn't afford?

• 1:03Speaker 03

  Yeah.

• 1:04Caleb Hammer?

  You were a literal [bleep] moron and ran a red light and smashed into a car.

• 1:09Speaker 03

  Yes, it was an accident.

• 1:10Caleb Hammer?

  Yes, it was a car accident. So you making dumb [bleep] choices equals you get funded by us? But I'm sure, can you shut the [bleep] if I'm kind of talking to you?

• 1:20Speaker 03

  I mean, I am a Gemini.

• 1:26Caleb Hammer?

  My Black Friday site, White Blueout is live! You can get 20% off everything in the store with code BF20. That is 20% off courses, merch, and even the brand new Master Your Money membership. But don't wait too long. This sale ends at midnight on Friday, December 5th. Happy Black Friday and enjoy your savings.

• 1:46Speaker 03

  Hi, I'm Charlie. I'm 34, from Seattle, Washington. And this is Financial Audit.

• 1:53Caleb Hammer?

  Hey, thanks for coming down to Austin. We're filming on Halloween. That's why you're spooky. Doesn't really mesh up for when these people are seeing that, but I appreciate it. What do you do up in Seattle for a living?

• 2:04Speaker 03

  Um, I am an HR coordinator and so basically I mostly do payroll.

• 2:11Caleb Hammer?

  So you're getting laid off soon.

• 2:14Speaker 03

  No, I'm the only person who does payroll at my company.

• 2:17Caleb Hammer?

  Oh, okay. Well, maybe not then. Just HRs is, whoo, so many HR layoffs this year. It's like the easiest one to cut.

• 2:24Speaker 03

  Well, I live, I work in the healthcare field, so.

• 2:27Caleb Hammer?

  Healthcare is also getting cut this year.

• 2:29Speaker 03

  Is it really?

• 2:30Caleb Hammer?

  Yeah, it's recession resistant, not recession proof.

• 2:33Speaker 03

  Fair.

• 2:33Caleb Hammer?

  There's still, especially on more local instances. I mean, Seattle's a major metro, so you probably have a little extra protection there, but who knows? Okay, very good. What do you make in this job?

• 2:44Speaker 03

  Yeah, I make thirty-one twenty an hour.

• 2:47Caleb Hammer?

  Okay, how many hours a week are you working?

• 2:48Speaker 03

  Forty hours a week.

• 2:49Caleb Hammer?

  Good. What hits your pay per paycheck?

• 2:52Speaker 03

  That is right at nineteen hundred a paycheck.

• 2:55Caleb Hammer?

  And that's every two weeks, I assume? Very good. Now, we're talking thirty-eight hundred, Seattle ain't a cheap city by any means.

• 3:02Speaker 03

  Yeah.

• 3:03Caleb Hammer?

  How we doing on that thirty-eight?

• 3:05Speaker 03

  Oh, man, it's, uh, it's not easy. Thankfully, I make enough that I can live on my own in a little studio apartment, but.

• 3:14Caleb Hammer?

  Well, are you in like the heart?

• 3:16Speaker 03

  No, not really. I live, uh, what we call on the east side, so across the lake.

• 3:22Caleb Hammer?

  Is it because it's in the direction of the east?

• 3:23Speaker 03

  Well, yes, it's on the east side of the lake.

• 3:25Caleb Hammer?

  That is a unique name that they call that, that is in no other city.

• 3:29Speaker 03

  Yeah, no, of course not, but people from Seattle will know.

• 3:34Caleb Hammer?

  People from every city will know where the east side is.

• 3:36Speaker 03

  Well, no, because, so Seattle.

• 3:39Caleb Hammer?

  Okay, I don't care.

• 3:40Speaker 03

  Oh, wow.

• 3:40Caleb Hammer?

  Well, I mean, I know, who does? I'm sorry, that's, I mean, I'll just be blunt. Okay, so people come in and they ask for help to fix with their checks. Other than that, you're really just pushing buttons.

• 3:51Speaker 03

  Yeah, I mean, for the most part.

• 3:53Caleb Hammer?

  Payroll is mostly automated unless there's like bonus and things coming in, but even still, that's still mostly automated.

• 3:58Speaker 03

  Yeah, I mean, I answer any questions that they have about payroll and then I also update 401K, benefits, things like that.

• 4:07Caleb Hammer?

  Okay, okay.

• 4:08Speaker 03

  I also partially work in finance for the company. I help out in our accounts payable and accounts receivables departments.

• 4:18Caleb Hammer?

  Uh huh, help out? Well, you're not getting paid more for that, so that's in your job.

• 4:23Speaker 03

  No, no, it's just part of it.

• 4:24Caleb Hammer?

  Again, I don't really, it doesn't really impact anything here, but that's exciting, I guess. Extra things to put under your resume belt. Now, you're able to afford the studio apartment on the east side. Very unique east side. Well, that's good. How much does your studio cost?

• 4:39Speaker 03

  Uh, 1,030.

• 4:41Caleb Hammer?

  Yeah, yeah, again, Seattle, it is an expensive area, not even downtown studio.

• 4:46Speaker 03

  That's actually really cheap for the area.

• 4:49Caleb Hammer?

  Exactly, that's what I'm saying.

• 4:49Speaker 03

  Yeah.

• 4:50Caleb Hammer?

  And it's still, uh, pretty, but I mean, that gives you room left over with your income. I mean, you're well within that like 30% and that's for your net income. So what the is going on? What are we talking about?

• 5:02Speaker 03

  Yeah, uh, so I, you know, I have tried to like keep up with socializing in Seattle and.

• 5:14Caleb Hammer?

  Try to keep up with socializing?

• 5:17Speaker 03

  Yeah, and I kind of tried to do your financial score, but.

• 5:21Caleb Hammer?

  You tried?

• 5:22Speaker 03

  I tried, I did it, but it wasn't super, it wasn't super accurate. It was really missing nuance for.

• 5:29Caleb Hammer?

  What's your nuance?

• 5:30Speaker 03

  Yeah, so I.

• 5:31Caleb Hammer?

  It didn't take into account that you're trying to socialize?

• 5:34Speaker 03

  No, um, so I rent an apartment in Seattle, but I own a house in Missouri.

• 5:39Caleb Hammer?

  Okay, well.

• 5:43Caleb Hammer?

  That doesn't, that would apply to your real estate score.

• 5:46Speaker 03

  Yeah, so the real estate score is like, do you live, do you own your primary house?

• 5:51Caleb Hammer?

  Well, it's not a primary residence. It's not a primary residence.

• 5:54Speaker 03

  It's just really simple and it lacks nuance.

• 5:57Caleb Hammer?

  That's not a primary residence.

• 5:59Speaker 03

  Right.

• 5:59Caleb Hammer?

  If you answered the question correctly, it goes into another bucket that would further clarify.

• 6:03Speaker 03

  Right, so the section that I'm looking at, like it's talking about my real estate availability and it doesn't have an option, once you say you own a house, to say, no, I don't live there.

• 6:16Caleb Hammer?

  But you marked it as your primary?

• 6:17Speaker 03

  Yep.

• 6:20Caleb Hammer?

  Okay.

• 6:21Speaker 03

  Yeah, I just really feel like it's like super missing nuance.

• 6:24Caleb Hammer?

  Super missing nuance. Mostly just on the, uh, you marking.

• 6:30Speaker 03

  Well, it's just really, really simple, like.

• 6:33Caleb Hammer?

  It's simple, it's easy, it's just a quick snapshot of where people stand.

• 6:36Speaker 03

  Yeah.

• 6:36Caleb Hammer?

  It doesn't evaluate your entire life, tell you if you should commit suicide or not, that's not what it's doing. It's, I don't know. No, it's a very, it's a quick snapshot, CalebHammer.com, take yours. Uh, yeah, it just tells you kind of where you are.

• 6:50Speaker 03

  Yeah, I just feel like it really doesn't understand context.

• 6:53Caleb Hammer?

  Context of a very specific thing that you said, yeah, I'm sure you could answer the question based on your thing. It is a little more rare for someone to own a rental property, yet not have a primary residence. Because, and that would be calculated in a score, because no one recommends in any financial space, mostly with real estate, of owning a rental property without owning a primary residence.

• 7:16Speaker 03

  Yep.

• 7:17Caleb Hammer?

  That's the first step. Why do you own a house out in Missouri?

• 7:21Speaker 03

  Um, because I bought it when I was 25 and I grew up in Missouri, so it was where I lived. And then I moved to Seattle and didn't, uh, get rid of it.

• 7:33Caleb Hammer?

  Why?

• 7:34Speaker 03

  Because it was my backup plan, like.

• 7:36Caleb Hammer?

  Well, what's it doing now?

• 7:38Speaker 03

  Um, it's just, I have, um, a friend who lives there.

• 7:42Caleb Hammer?

  Do they pay rent?

• 7:44Speaker 03

  They pay the mortgage.

• 7:45Caleb Hammer?

  Okay.

• 7:46Speaker 03

  Yeah.

• 7:47Caleb Hammer?

  That would be calculated in a score. I'm so confused. I don't know. I feel like you didn't take it. Okay?

• 7:51Speaker 03

  Maybe.

• 7:51Caleb Hammer?

  And.

• 7:53Caleb Hammer?

  How long have you been in Seattle?

• 7:54Speaker 03

  Um, since July 2020, five years.

• 7:57Caleb Hammer?

  Okay, so five years. What are you gonna do with the house now then?

• 7:59Speaker 03

  I am putting it on the market, actually.

• 8:02Caleb Hammer?

  Okay, so I don't really understand your complaint then. I'm a little confused. Okay, what did you get?

• 8:07Speaker 03

  1.79.

• 8:08Caleb Hammer?

  You told Colton the algorithm graded you wrong because it counted you as a homeowner? You are a homeowner.

• 8:13Speaker 03

  Yeah, but it didn't give me the option to say both, Caleb.

• 8:17Caleb Hammer?

  Both what? Homeowner and renter?

• 8:18Speaker 03

  Homeowner and renter.

• 8:19Caleb Hammer?

  But you're at least in the real estate market. That's what it's calculating. Whether or not you're an owner, it's not taking points away for being a renter either. It's being in the real estate market. You're so [bleep]. What are you? Okay, great. I'm glad. Listen, I'll take your quiz next.

• 8:31Speaker 03

  Okay.

• 8:32Caleb Hammer?

  Okay, so it gave you a score?

• 8:34Speaker 03

  1.79.

• 8:36Caleb Hammer?

  Which rounds to a 2, so you would have been a 2 out of 10. Again, you get yours to CalebHammer.com. It is free. So you're standing in the world of finances. That's exciting. I'm glad you have an issue with the score, but you said one of the things you're focusing on while you're [bleep] is because you're trying to socialize. What does that even mean?

• 8:54Speaker 03

  Yeah, so, um...

• 8:56Caleb Hammer?

  Have you tried to socialize?

• 8:58Speaker 03

  Trying to socialize? Well, because I am 34 and I wanted friends. But also, um, a couple of years ago, I was dating someone who made a much higher, um, wage than I did, a much higher salary.

• 9:13Caleb Hammer?

  What does that have to do with socializing?

• 9:13Speaker 03

  He's very social, like he...

• 9:15Caleb Hammer?

  Okay, great. He made more money. What does that have to do with you not being able to socialize? So you're throwing your life away to socialize? What's socializing? You should have about three-fourths of your income left, right? Uh, just about after your rent, closer to two-thirds, maybe. I don't know, but even still... What is this socializing you're talking about? You're dropping hundreds at a bar every night?

• 9:35Speaker 03

  Not every night, no.

• 9:36Caleb Hammer?

  What the [bleep] are you on about?

• 9:37Speaker 03

  It's hundreds every weekend.

• 9:39Caleb Hammer?

  But even still, that shouldn't destroy you with where you're at of your needs versus...

• 9:44Speaker 03

  Yeah, if you're looking at just my base cost, for sure.

• 9:47Caleb Hammer?

  Yeah, so that gives you wiggle room. So what are you talking about then?

• 9:50Speaker 03

  Credit cards, man. They're killing me.

• 9:52Caleb Hammer?

  Okay, why are the credit cards killing you then? Because even still, you wouldn't be going in credit card debt because you have enough money left over to go socialize.

• 10:00Speaker 03

  Well, because the credit card debt existed before the socializing started.

• 10:05Caleb Hammer?

  Then why? Why? If what we're spending on is socializing, how did they exist before the socializing?

• 10:10Speaker 03

  Well, so like some of them exist for, um, from moving. And then, like, four of them were taken out for a trip to Hawaii with that ex.

• 10:23Caleb Hammer?

  He made substantially more but didn't pay for it?

• 10:25Speaker 03

  Well, we were technically broken up at the time.

• 10:29Caleb Hammer?

  Why the [__] did you go?

• 10:31Speaker 03

  Um, because legally, due to certain things, he couldn't take anyone else. And he had already paid for the flight and everything.

• 10:39Caleb Hammer?

  Couldn't Venmo you? Okay, it doesn't matter. I mean, I have a note that one of the reasons you want to come on is because you're in a new relationship. So we're not talking about that guy anymore, anyway. You want to fix your debt so you can get more serious?

• 10:50Speaker 03

  Yes.

• 10:50Caleb Hammer?

  Ooh. How long have you guys been dating?

• 10:52Speaker 03

  Eight months.

• 10:54Caleb Hammer?

  Okay. Cool. So you're wanting to get more serious and you want to fix your [__].

• 10:57Speaker 03

  Yeah. Yeah, because he's really amazing with finances. He pays off his credit card every two weeks. Whenever he gets paid, he only...

• 11:06Speaker 00

  This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed sponsored jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Hiring now? Then this is a job for Indeed sponsored jobs.

• 11:35Caleb Hammer?

  What about you?

• 11:36Speaker 03

  That's a great question. Um, because right now it's racked up high enough that I don't feel like I... With the minimums and everything else.

• 11:44Caleb Hammer?

  What does he know about your debt if you're trying to get more serious?

• 11:46Speaker 03

  Um...

• 11:47Caleb Hammer?

  Eight months in, certainly financial conversation by then, potentially.

• 11:50Speaker 03

  I've tried to talk to him about it. He's not really interested. He doesn't really care.

• 11:54Caleb Hammer?

  Oh. Sounds like he really likes you.

• 11:58Speaker 03

  Yeah, I told him the situation with my car. And he's like, why, why, why are you telling me this? I don't care. And I was like, I mean, yeah, sure. He just...

• 12:08Caleb Hammer?

  You said, yeah, sure. Wow, that's, uh, love.

• 12:12Speaker 03

  Oh, no, no, for sure.

• 12:13Caleb Hammer?

  Sounds like let's get more serious with that.

• 12:15Speaker 03

  No, he just doesn't think that my finances affect him. Am I desperate? No, absolutely not.

• 12:22Caleb Hammer?

  Spending a ton of money to socialize and you complained about getting 34 and trying to socialize. And now you're compromising to a guy who you bring something you want to talk to about to him. He says he doesn't care. That is a massive impact of your life. I'm sorry.

• 12:37Caleb Hammer?

  You sound desperate.

• 12:38Speaker 03

  Oh, wow. No.

• 12:40Caleb Hammer?

  How else would you describe it?

• 12:41Speaker 03

  So there's this thing called the Seattle freeze. It usually takes newbies a couple of years before they start to be able to get friends in Seattle. It's a normal thing.

• 12:54Caleb Hammer?

  Normal thing that happens in no other, you know, adulthood. When you move to a new location, you think everything is very unique to Seattle. Guys, that has any side? Guys, it's harder to make friends when you're adults and you move there and you're not going to school. The fuck about, you're, you're one of those people that thinks they're from a really unique city.

• 13:12Speaker 03

  No, so when I finally did start making friends, I tried to keep up with them and they make exorbitantly more than I do.

• 13:20Caleb Hammer?

  Why'd you try to keep up with them? That's your choice. You're the one fucking it.

• 13:23Speaker 03

  Because I felt like that was what I needed to do.

• 13:25Caleb Hammer?

  Needed? They would've judged you. What were you trying to keep up with? What was, what was needed to, what was being done that you needed to keep up with?

• 13:32Speaker 03

  Um, so going to concerts, events.

• 13:35Caleb Hammer?

  You can afford concerts and events?

• 13:40Caleb Hammer?

  Your needs.

• 13:40Speaker 03

  Not with my finances.

• 13:42Caleb Hammer?

  No, well, no, no, no, no, but you're suggesting why you're in these finances are because of that.

• 13:47Speaker 03

  Yeah.

• 13:48Caleb Hammer?

  So that doesn't make any sense. You would have been able to afford it without putting it on my credit cards.

• 13:52Speaker 03

  Right.

• 13:53Caleb Hammer?

  So no, it's not because of your finances. Your finances are there based on what you've done, but you should have been able to do that cash flow.

• 13:59Speaker 03

  Yeah, you would think so for sure, but.

• 14:01Caleb Hammer?

  So this doesn't make sense. Going to a concert every once in a while wouldn't make a break?

• 14:05Speaker 03

  Every once in a while, like.

• 14:06Caleb Hammer?

  Okay, fine.

• 14:06Speaker 03

  Three to four times a month.

• 14:08Caleb Hammer?

  How big concerts? Cause concerts aren't always expensive. Is there a local concert? It's not huge.

• 14:13Speaker 03

  I mean, it's like All Time Low, My Chemical Romance, A Day to Remember, Coheed and Cambria.

• 14:19Caleb Hammer?

  I know one.

• 14:20Speaker 03

  Wow. My Chemical Romance?

• 14:23Caleb Hammer?

  Yes.

• 14:23Speaker 03

  Wow. Okay. Yeah. All time. Yeah. Just like emo scene.

• 14:28Caleb Hammer?

  Yeah, slit wrists. He's like, yep, yep, yep. We got it. Okay, so. Uh, again, with the number you have, is it a crazy number? No, but if we're comparing it to the studio price you have for your rent and then we budget everything else in, you could afford this. It would not have, what is your debt? What is your total number of debt that you try to tell your boyfriend who you love, who doesn't care?

• 14:49Speaker 03

  So I have about 56,000 in student loans.

• 14:53Caleb Hammer?

  What's your total debt?

• 14:55Speaker 03

  135,000.

• 14:56Caleb Hammer?

  124. And yes, there's a more mortgage in there, which is incredibly cheap mortgage, actually, because the vast majority of the debt is not the mortgage, surprisingly, even though it's $124,000. Okay, so maybe the only reason he finds out what's going on with you is because he sees this episode.

• 15:17Speaker 03

  Well, I told him before.

• 15:20Caleb Hammer?

  After he said he didn't give a shit, please stop talking to me.

• 15:22Speaker 03

  No.

• 15:24Caleb Hammer?

  Well.

• 15:25Speaker 03

  No, so I told him, hey, I applied for the show. Um, I'm going to talk to him about my finances and he was like, well, I don't think that they're going to accept you because your finances are fine. They're going to be bored.

• 15:38Caleb Hammer?

  He's good with finances.

• 15:39Speaker 03

  And. No, he just didn't know about mine. I do a really good job of like hiding it.

• 15:46Caleb Hammer?

  Why do you love this guy? This is not scream desperation. I'm sorry, does it not?

• 15:51Speaker 03

  No.

• 15:52Caleb Hammer?

  How?

• 15:53Speaker 03

  Amazing. He's gorgeous. He's the best person I've ever met in my life.

• 15:56Caleb Hammer?

  Never dated, best person you've ever, and he said, I don't give a shit. Stop.

• 16:02Speaker 03

  It wasn't like.

• 16:02Caleb Hammer?

  I don't want to hear about your car. I don't want to hear about your finances. Off. Wow.

• 16:08Speaker 03

  It was more like my finances weren't important to our relationship. It didn't impact our relationship.

• 16:14Caleb Hammer?

  He said he didn't care though, when you brought it up.

• 16:16Speaker 03

  Yeah. So when I brought up.

• 16:17Caleb Hammer?

  Best person you've ever met? That's why I think it's desperation.

• 16:20Speaker 03

  No.

• 16:20Caleb Hammer?

  Why the would you stick with that? I would never stick with that.

• 16:23Speaker 03

  When I brought up the car, it was because I was trying to warn him about the situation with the car. And he didn't. Yeah. I didn't want him to see the show and not know about the situation. Yeah. The, uh, the car is an interesting situation.

• 16:41Caleb Hammer?

  I'm sure we'll get into it.

• 16:42Speaker 03

  We definitely will. But yeah, I just want to warn him ahead of time so that he wasn't like surprised. And he was, it just wasn't, it was a non-issue to him.

• 16:52Caleb Hammer?

  Let me see what this man looks like.

• 16:53Speaker 03

  Yeah. Okay.

• 16:55Caleb Hammer?

  And if we get his consent to put him on screen, we will.

• 16:59Caleb Hammer?

  But I want to see what he looks like, even though technically in Texas, we don't need consent. But that's okay. We like to be respectful.

• 17:09Caleb Hammer?

  Thought he was naked down under with us.

• 17:14Caleb Hammer?

  Is he desperate?

• 17:16Speaker 03

  No. I'm also amazing.

• 17:20Caleb Hammer?

  Can they see?

• 17:21Speaker 03

  Should I?

• 17:24Speaker 03

  He looks so confused.

• 17:25Caleb Hammer?

  Hold on to this as long as you got it.

• 17:28Speaker 03

  Yeah, I'm in love.

• 17:30Caleb Hammer?

  Hold on. I understand why.

• 17:32Speaker 03

  He's in love too.

• 17:37Speaker 03

  Yeah, so in 2017, I got into a major car accident and totaled both my car and the other person's car.

• 17:45Caleb Hammer?

  Major credit?

• 17:46Speaker 03

  I got chased for two years by their insurance company.

• 17:50Caleb Hammer?

  Whose fault was it?

• 17:51Speaker 03

  It was mine, for sure.

• 17:52Caleb Hammer?

  What are you doing, you beast?

• 17:54Speaker 03

  Um, so in the city that I was in, the, there were two lights that were less than a block away from each other. And when I-

• 18:04Caleb Hammer?

  Also has never happened in any other town.

• 18:07Speaker 03

  I thought it was odd. Um, but yeah, I didn't realize that the second one was red.

• 18:15Speaker 03

  Yeah.

• 18:16Caleb Hammer?

  Okay, so we should take your license away because you're a moron.

• 18:18Speaker 03

  No, no. Otherwise, I'm a great driver.

• 18:22Caleb Hammer?

  Otherwise, other than when I slammed into someone's vehicle because I can't look at stoplights.

• 18:27Speaker 03

  Yeah. Yeah, so because of that, um, they were suing-

• 18:33Caleb Hammer?

  Oh, and you were slamming into a deer left and right before that accident as well. That's great.

• 18:38Speaker 03

  My left and right?

• 18:39Caleb Hammer?

  Yeah, you were just kept, you kept, you slammed into multiple deer before that as well.

• 18:44Speaker 03

  Oh.

• 18:45Caleb Hammer?

  Oh, yeah, the thing I just said, I had to clarify like three times.

• 18:48Speaker 03

  So my, the previous car, um, just for some backstory, the-

• 18:53Caleb Hammer?

  Why did it fuck your credit?

• 18:55Speaker 03

  So the previous car had, um, hit two deer in the same month and ruined my radiator. They replaced the radiator, radiator covered by insurance, but it just kept leaking. So I randomly went and, um, looked at cars and ended up buying a car, uh, that was way above my price limit. And three months later, two days after I paid the very first payment on it, I totaled it. And, uh, the truck that I ran into was worth 65,000 and my insurance only covered 20,000. So 25,000. So, um, his insurance came after me for 40,000.

• 19:38Speaker 03

  Um, they kept moving the date for two years for the court. And my attorney suggested that I prepare for bankruptcy, told me to stop paying all my debts.

• 19:52Caleb Hammer?

  Okay, so now we understand why your credit's fucked. So correct me if I'm wrong in this. You got a car you couldn't afford.

• 20:00Speaker 03

  Yeah.

• 20:01Caleb Hammer?

  You were a literal fucking moron and ran a red light and smashed into a car.

• 20:05Speaker 03

  Yes, it was an accident.

• 20:09Caleb Hammer?

  Yes, it was a car accident.

• 20:13Caleb Hammer?

  And then that fucked your credit out of your choices and moronicness.

• 20:18Speaker 03

  Yeah.

• 20:19Caleb Hammer?

  Which prevented you from getting a place that you wanted, so you milked the taxpayer. So you making dumbass choices equals you get funded by us? Fuck off. That makes no sense. That is not a justification. That's even worse. You are a moron. You don't know how to look at stoplights. You are a moron. You bought a car you couldn't afford. That doesn't mean we have endlessly higher rents to fund you. What a joke.

• 20:46Speaker 03

  I wasn't the one who set up that subsidy. I just took it.

• 20:50Caleb Hammer?

  The one who milked it.

• 20:51Speaker 03

  I just took it because it's there and I qualify for it, so why not?

• 20:55Caleb Hammer?

  Milked it.

• 20:56Speaker 03

  If I'm not gonna live there, someone else will who drives.

• 21:00Caleb Hammer?

  Oh, trust me, I'm criticizing the system and you.

• 21:02Speaker 03

  Multiple neighbors of mine who park in the garage have Porsches.

• 21:06Caleb Hammer?

  Yes, I know this system's literally everyone and it has never worked in the history of ever. It has never been proven to work. Never. There's not a single rent-controlled city that has actually benefited the vast majority of people. Small percentage, of course, for the negative effect of everyone. It's just a performative policy. It's a virtue signaling policy. It's one that sounds good, one that sounds all moral, but actually leads to results that hurt the majority. And that's all that matters in the end is what actually happens, not what sounds good to advocate for. So I don't give a... Look, private student loans can make you feel like you're one missed payment away from selling your grandma's haircuts. We miss you grandma. Yrefi says chill out. No more sacrificing the family jewels. They don't reduce you to a credit number.

• 21:51Caleb Hammer?

  They actually want to see if you actually plan on paying them. And by the way, they're providing interest rates under 6%, which is practically a unicorn in this student loan jungle. I mean, some lenders want to charge so much that you'd swear they're putting your firstborn on layaway. Tired of monthly payments so high you can't afford a single sweet treat? Yrefi has got you. They'll rearrange your payment plan, ease the monthly hit, and even let your poor cosigner off the hook. Mom or dad can finally breathe. Oh, and if you think you'll just get stuck in a call center, guess what? 4.6 stars in Google says Yrefi actually picks up and treats you like a real human. Shocker, right? And fine, it sets about as rare as me not slamming the desk every single episode. So if you're done fantasizing about robbing a bank, don't do that, by the way. Check out Yrefi.

• 22:35Caleb Hammer?

  They're here to help you actually crush these loans without selling your kidneys on the black market. Head to Y R E F Y dot com slash hammer. That is Yrefi dot com slash hammer. Or call triple eight nine seven three three nine seven eight. That is triple eight nine seven three three nine seven eight. And see how a real personal approach can help you escape the private loan nightmare. Because let's be honest, living with crippling debt until you're 90 is not the retirement plan you dreamed of. Wanna know a dirty little secret? And no, I'm not starting an only [BLEEP]. You're not broke because you suck with money. You just can't see where it's going. If your bank account is empty at the end of every month, that is not bad luck. That is bad tracking. And it's exactly why I use DollarWise. It shows you exactly where your money's going every single month. Spending, subscriptions, and savings all in one simple dashboard.

• 23:20Caleb Hammer?

  Everything you need and nothing you don't. And when you download DollarWise today, you'll get six to try it for free plus three months for just $9.99. So you can finally take control and see what your money's been doing behind your back. Click below to get started. Okay, so we'll jump in. I guess you have a problem with the Hammer financial score. You have a problem with anything else?

• 23:43Speaker 03

  Um, yeah, so do you know Ramit? Have you heard of Ramit?

• 23:47Caleb Hammer?

  I've heard of Ramit. I've never made it more than a few minutes into his content because I don't think anyone can.

• 23:53Speaker 03

  Oh my gosh, I watch his all the time.

• 23:56Caleb Hammer?

  You're one of about 50,000 viewers per video?

• 23:59Speaker 03

  I mean, he has over a million subscribers.

• 24:01Caleb Hammer?

  Subscribers are nothing on the internet.

• 24:04Speaker 03

  So.

• 24:05Caleb Hammer?

  And how many seasons was in that Netflix show that came out a few years ago?

• 24:08Speaker 03

  I don't know. I haven't watched the Netflix show yet.

• 24:12Speaker 03

  But I think his conscious spending plan is more worthwhile than your hammer score.

• 24:18Caleb Hammer?

  Uh, I don't know his conscious spending plan, so I can't speak on it. Listen, I'm goofing on him. I don't actually think bad about him. I saw he made a couple of videos where he tried to like milk our name, which is objectively bigger than his in every way whatsoever by every metric presented on the internet.

• 24:31Speaker 03

  I know the money guys like him.

• 24:33Caleb Hammer?

  Yeah, but he's probably good as a person, I'm sure. Um, but after he tried to milk my name, um, in order for his own views, as many YouTubers do, who just aren't successful on their own.

• 24:44Speaker 03

  Once again.

• 24:45Caleb Hammer?

  Then that's why I'm kinda, you know, being a little goony with him, but I'm sure, can you shut the [BLEEP]? I'm kinda talking to you, cunt. Listen, she's like, what the [BLEEP] is happening? Like, what are we doing here? I'm the interrupter, not Ramit, not you, I'm [BLEEP]. So, uh, yeah, so, yeah, good, but I'm sure he's a good dude. I'm sure he has a good show. Obviously Netflix didn't think so, or else he would have come back for a season two. But I'm sure his conscious spending plan's nice. Um, and I, of the few things I know about him, I think he advocates for renting over buying, which honestly, I'm on that board now. Market has just beyond outperformed buying. So at this point, it makes more sense to rent.

• 25:27Caleb Hammer?

  Um, and I'm sure he's a nice student. People like his book, so I'm okay with that. And the money guy plan works. My plan works. Dave Ramsey's plan works. I'm sure Ramit's plan works. Follow whatever plan you want to, as long as, as long as it works. That's all that matters.

• 25:44Speaker 03

  I'm trying.

• 25:45Caleb Hammer?

  Well, then obviously it's not working and you don't vibe with this, so maybe you need a different plan. Some plans work for others. Some plans need, some people need tough love. Some people need soft coddling. Some people need, you know, intellectual talk. Some people need a nice little goon sesh, okay? Everyone is different. As long as you, the end result is you get better. That's all that matters in the end.

• 26:03Speaker 03

  It said that my fixed costs are 84% of my income.

• 26:06Caleb Hammer?

  You've built all your debts up, your tit. That's what happens. I think my plan would have said that too, if I asked that question.

• 26:14Speaker 03

  Which you don't.

• 26:14Caleb Hammer?

  It's not a plan, it's a score.

• 26:18Caleb Hammer?

  Like what? One's a plan, one's an assessment.

• 26:23Speaker 03

  Yeah.

• 26:23Caleb Hammer?

  They are different.

• 26:26Caleb Hammer?

  Okay.

• 26:27Speaker 03

  I also, um.

• 26:28Caleb Hammer?

  Can't do stoplights, can't figure out online assessments? Can't really do much, it seems.

• 26:34Speaker 03

  I also had an issue with one of the sponsors that you did.

• 26:38Caleb Hammer?

  Oh, my gosh, okay. You, why, why do you even watch this show?

• 26:41Speaker 03

  Um, because I think it's hilarious and I.

• 26:44Caleb Hammer?

  Well, all you have is complaints.

• 26:46Speaker 03

  Oh, wow.

• 26:47Caleb Hammer?

  Okay.

• 26:47Speaker 03

  I've been watching for two years.

• 26:49Caleb Hammer?

  What's the little sponsor you didn't like?

• 26:50Speaker 03

  It was the payday loan sponsor.

• 26:52Caleb Hammer?

  It's not a payday loan.

• 26:54Speaker 03

  Okay. It's.

• 26:55Caleb Hammer?

  It's cash advance, which just.

• 26:57Speaker 03

  Cash advancing on your paycheck, yeah.

• 26:58Caleb Hammer?

  No, no, no, just like credit cards. I advocate for the FIS card as well, which is a credit card. It is borrowing money. Borrowing money is not inherently bad thing. I like using these tools. I like using a little, if I wanna get, uh, you know, something, I can do a little advance thing. Like, that's okay, as long as it's managed actively paid back.

• 27:15Speaker 03

  But it's, okay, so the issue I have with it.

• 27:18Caleb Hammer?

  First of all, if it's a payday loan, it'd be like a thousand percent interest. No, it's one of those things where you attach it to your checking account.

• 27:23Speaker 03

  I know.

• 27:23Caleb Hammer?

  And when your payday hits, you can like get the pay like a week early. If like bills are lining weird.

• 27:28Speaker 03

  And people.

• 27:28Caleb Hammer?

  So just like credit cards, okay, you're trying to talk, well, I may actually explain what the thing is because you have a problem with it. And I can actually explain what it is because of course you probably have no nuanced idea of how it actually works. But in reality, just like a credit card, it can be absolutely abused in personal loans, bankruptcy, uh, private, you know, private student, uh, so even federal student loans can be used for, people use it for things all the time that aren't about school. Every debt can be a tool. It can be a hammer that you can use to build a house. It can also be swung back and hit you in the eye. If you use it incorrectly, then I would tell you to fuck off. Don't get anywhere near it. In any future read I do for it in the future will include something like that, of course. But if you use it correctly, why the fuck not? It's a tool.

• 28:12Caleb Hammer?

  It's a tool that can benefit you, that you can use to your advantage, like a 0% furniture loans. I do those all the time when I get something new. I don't abuse it because I'm a credit card person who can manage it.

• 28:22Speaker 03

  Yeah, so as a payroll specialist.

• 28:25Caleb Hammer?

  Uh huh.

• 28:25Speaker 03

  And being in payroll, I see. Employees all the time because

• 28:29Caleb Hammer?

  Abuse it and not use it correctly?

• 28:31Speaker 03

  Companies offer it as part of their benefits package.

• 28:34Caleb Hammer?

  So abuse it and not use it correctly?

• 28:36Speaker 03

  They get stuck in a cycle, Caleb.

• 28:38Caleb Hammer?

  Exactly. Hey, guess what? You're stuck in a credit card cycle.

• 28:41Speaker 03

  I know I am.

• 28:42Caleb Hammer?

  I see this every day. It doesn't mean I'm Dave Ramsey who says all credit cards should die. If you can use credit cards, use credit cards. If you can use that, use it. It is just like gambling. If you think it is fun and you can actually manage it, I don't care. If you can smoke weed and actually manage it, I don't care. If you can go have a drink at the bar and manage it, I don't care. If you're someone who is endlessly addicted personality, never step foot near those things. That's why I don't drink or smoke. I know I'd be right, I'd be down that fucking hole immediately. If you can't manage credit cards, don't use it. If you can't take a personal loan out to consolidate a debt and then build up your debt, then don't do it. If you can't manage that payroll thing and not completely, don't do it. It is the same for any and every tool, activity. If you can't.

• 29:29Speaker 00

  This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed sponsored jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Hiring now, then this is a job for Indeed sponsored jobs.

• 29:59Caleb Hammer?

  Start gooning without ever being able to finish? Don't start gooning because you'll be there forever. If you can't play video games without also being able to go outside and still socialize without destroying your life, then don't do it. It is the same for everything, lady. Everything is nuanced, more than just, oh, you know, I've seen so bad things. I see bad things here every day with Capital One. That doesn't mean I say, don't get a Capital One card.

• 30:22Speaker 03

  I'm just saying that I really respected and appreciated that you always like told people not to use those. And so it just really disheartened me.

• 30:30Caleb Hammer?

  People on this show.

• 30:31Speaker 03

  Yeah.

• 30:31Caleb Hammer?

  I tell you. Not to you is a credit card because you're a who can't use credit cards. You're not a credit card person.

• 30:41Speaker 03

  Yeah, I know.

• 30:42Caleb Hammer?

  So I tell people on this show,

• 30:44Speaker 03

  Trust me.

• 30:44Caleb Hammer?

  Do not do debt consolidations. You can't. You can't.

• 30:48Speaker 03

  Literally can't.

• 30:49Caleb Hammer?

  I tell people on this show, do not open a credit card. You can't. They are different. I am different. You are broken. You can fix it and become a person who can use those tools. Hey, people with gambling addictions on the show, I say, don't gamble. Lindsay, she loves a nice little Vegas trip. She can manage it. So I say, go, girl, go. And spend that money, have some fun. It is a nuanced thing. And obviously, the people on this show, you're correct, should not, you fuck.

• 31:26Speaker 03

  And the people on this show are your viewers. You say that all the time, that most people who come on this show are from the viewers.

• 31:33Caleb Hammer?

  Well, one, again, because you didn't listen correctly, every single person who comes on this show is a viewer.

• 31:38Speaker 03

  Well, exactly.

• 31:39Caleb Hammer?

  Number two, the viewers are tens of millions a week. I have not had tens of millions of people on this show. We put out surveys once a year, collecting the demographics of our show and the financial positions on the show. The at least 50% of the people on the show have an incredible net worth, do incredibly well. Many people are in the beginning stages and they use this show as finding a way to do better. Not every sponsorship is going to be for everyone. Guess what, you tit? I do a NetSuite sponsorship as well. That's for businesses that make over a million dollars a year. Is that for every guest who comes on this show? Is that for every single person in the audience? Well, of course not, because that's only 55,000 businesses that use it because not every business is large enough to take advantage of that product.

• 32:20Caleb Hammer?

  So obviously, it is curated to people that would benefit from that product, you fuck. I'm going to get into these numbers. You are not a smart person. This is, this is ridiculous. Where are you?

• 32:32Speaker 03

  I'm just saying that.

• 32:33Caleb Hammer?

  You have no nuance. You are like an internet person.

• 32:36Speaker 03

  Kind of like your score?

• 32:38Caleb Hammer?

  The score has nuance because if you select an answer to a question and then brackets into different points based on the answers you gave before. If it was you creating a score, it would be a survey with five questions that none of it change or adapt based on your previous responses because you're TikTok brained. You're TikTok brain where you can't see nuance on anything. Brained. I'm not saying you're a TikToker. Okay. So your financial score, it sounds like it was a two out of 10 round of them.

• 33:06Speaker 03

  Yeah.

• 33:06Caleb Hammer?

  And if you want that, you can get that at CalebHammer.com, like I already said. But if you don't want to be like a guest who ends up on the show, one, don't get in a car wreck like her because it clearly ruined her brain. But two, you can also download the Dollar Wise Budgeting app. Take the free trial, see if you like it. And if you do, sign up for the annual version because you save a lot of money when you do that. And then I'll personally sign my budget friendly cookbook and mail it directly to your door. I usually have a copy right here to hold up, but it appears to have been stolen from me, so I don't have that and that's okay. Dollarwise.app and CalebHammer.com. Anything else you want to complain about that you didn't take more than 30 seconds to think about before you did?

• 33:44Speaker 03

  No.

• 33:45Caleb Hammer?

  What are you gonna say? Our Dave Ramsey's plan of saving up a thousand dollars before going into debt instead of having your highest deductible paid for like the money guys advocate for is actually more smart.

• 33:54Speaker 03

  Dear God, no. I don't like Dave Ramsey.

• 33:57Caleb Hammer?

  You don't like him?

• 33:58Speaker 03

  I like the money guys. I like you. I like Ramit.

• 34:02Caleb Hammer?

  You know, we all agree on 95% of financial, personal finances. Girl, you're a fan of this show. This is the judgy show that has ever existed.

• 34:09Speaker 03

  Okay, but you're like Goony judgy.

• 34:10Caleb Hammer?

  Yeah, I'm Goony judgy and he's religious judgy.

• 34:14Speaker 03

  Exactly.

• 34:14Caleb Hammer?

  It's different. Yeah, it is. Okay, it is different. Okay. Capital One.

• 34:22Speaker 03

  Yeah.

• 34:23Caleb Hammer?

  What's going on?

• 34:25Speaker 03

  Oh, man. Um, what's the balance on that one?

• 34:28Caleb Hammer?

  Wow, I would hope you'd know. Okay. $2,071.58.

• 34:32Speaker 03

  Cool, that's my platinum card. Um, that was opened in 2022 because I had to quickly move out of an apartment into another apartment.

• 34:44Caleb Hammer?

  Why?

• 34:45Speaker 03

  Why? Well, because...

• 34:47Caleb Hammer?

  They decided to stop subsidizing you because you make decent money and you just blow the rest on concerts?

• 34:51Speaker 03

  I mean... Not really, but kind of.

• 34:54Caleb Hammer?

  Okay.

• 34:54Speaker 03

  So I didn't know that that was a subsidized apartment. So I filled out the paperwork and I was approved. And then three months later, they came back and were like, oh, by the way, you make too much. And I had to move out within thirty days. So I was like, okay. Yeah, no, I was totally fine with leaving.

• 35:11Caleb Hammer?

  I'd make you pay market rate until you could transition. That seems like a pretty brutal system. I would just make you pay market rate, but okay. But you had to borrow to move? So listen, you're in subsidized rent, meaning you had a lot more money left over. Why'd you have to borrow to move?

• 35:26Speaker 03

  Because I don't have any savings. I have a really hard time saving money.

• 35:31Caleb Hammer?

  Hard time. Why do you have a hard time?

• 35:33Speaker 03

  I'm kind of one of those people who I make sure that all of my like minimums are paid every month. Like everything's paid and then anything left kind of just disappears into the ether.

• 35:45Caleb Hammer?

  Ether. I do have a concern.

• 35:47Speaker 03

  Yeah, sure.

• 35:48Caleb Hammer?

  You said you've watched the show for two years and it sounds like you've been watching me. Is it Ramit or me?

• 35:53Speaker 03

  Remy.

• 35:53Caleb Hammer?

  Okay, I always thought it was Ramit before this, but I guess that is a little more. Yeah, that sounds, that sounds right. Okay, good. You've been watching him for a while. You've known of Dave Ramsey for a while. If you've been consuming all these things and you've done nothing, what is this actually going to change? This conversation?

• 36:11Speaker 03

  Yeah.

• 36:11Caleb Hammer?

  Cause you've been watching the content, you've been, see, even the fifty percent that answer our annual quiz that do better, you know, than vast majority of Americans who are in the audience. And then about twenty-five percent are struggling and twenty-five percent are on their way. That's usually about what we see. You know, they still watch the show, one, entertainment, two, motivation. Surrounding yourself with money, content, money, books, things like that. Keep people motivated to their goals. You've been surrounding yourself with this shit for years and you've done nothing. In fact, I've seen a snapshot of last month and it's horrendous.

• 36:45Speaker 03

  Yeah.

• 36:46Caleb Hammer?

  What the?

• 36:48Speaker 03

  This year, I finally got to focus on my mental health and.

• 36:55Caleb Hammer?

  What mental health?

• 36:57Speaker 03

  So I don't want to talk too much about that, but it did help me a lot to finally get my meds in line. So now I'm.

• 37:06Caleb Hammer?

  Okay, so you feel a little better this year. That's good. Great. Well, that, we're at the end of the year, so.

• 37:12Speaker 03

  Things are getting better.

• 37:14Caleb Hammer?

  No.

• 37:16Caleb Hammer?

  Um, no.

• 37:19Caleb Hammer?

  No.

• 37:20Speaker 03

  Cause I can't.

• 37:21Caleb Hammer?

  A late fee on this first credit card is actually what I see. I also see income coming in of basically what you said, actually a little more. It must have been a triple paycheck month. Okay, that came in, yet you still spend more than that. Hundreds more, in fact. So, yes, believe it or not, numbers actually add up and equal.

• 37:41Speaker 03

  Right.

• 37:42Caleb Hammer?

  Numbers and that's what the accountant who went through this found. I know you help with payroll, but.

• 37:48Speaker 03

  For sure. No, I totally agree. Numbers do count.

• 37:51Caleb Hammer?

  Yeah, the amount of stickers on front of it is not gonna make the math work more.

• 37:55Speaker 03

  I know.

• 37:55Caleb Hammer?

  So the reality of the statements that we have, which is the month, shows you bringing in three thousand eight hundred ten dollars ninety two cents and total out.

• 38:06Caleb Hammer?

  Out.

• 38:06Speaker 03

  Wait, was how much in?

• 38:08Caleb Hammer?

  Three thousand eight hundred ten.

• 38:09Speaker 03

  Okay.

• 38:10Caleb Hammer?

  Of the statements that we have, statements that we have. Four thousand one hundred eight fifty two went out.

• 38:16Caleb Hammer?

  Can you tell me how much went to going out? Because, listen, you're getting better. How much went to going out to eat?

• 38:21Speaker 03

  Yep, so going out to eat was about six hundred?

• 38:25Caleb Hammer?

  Five hundred twenty eight dollars seventy nine cents.

• 38:27Speaker 03

  Okay.

• 38:28Caleb Hammer?

  So you wrote that down yourself, and yet you've changed nothing.

• 38:32Speaker 03

  Yep.

• 38:33Caleb Hammer?

  That's an interesting strategy.

• 38:35Speaker 03

  In the last month, things have definitely changed.

• 38:37Caleb Hammer?

  Oh, the month I knew was coming on the show, almost like every single person in the history of the entire existence of this show. That means nothing. If you're going on The Biggest Loser, then it doesn't matter if you were healthy for a month. Like, you know you're coming on the show, so the little, that's why we do the previous month, because this is a real month. This is what the life actually looks like. You're spending almost minimum a thousand on bullshit.

• 39:03Speaker 03

  Yeah.

• 39:03Caleb Hammer?

  Reminder, we are subsidizing you spending a thousand dollars on bullshit. That is unacceptable. You're milking the taxpayer. You're making everyone's cost of living go up in Seattle so that you can spend a thousand dollars going out to eat and doing miscellaneous bullshit.

• 39:16Speaker 03

  I don't think that trying to have fun and live my life while also being able to live a more healthy lifestyle is necessarily always bullshit.

• 39:28Caleb Hammer?

  Hold on, I mean, I'm sorry. Listen, this is a complicated position to be in. I, I, I, I, I wanna follow your rule. For the one, your thing.

• 39:38Speaker 03

  Yeah.

• 39:38Caleb Hammer?

  Right?

• 39:39Speaker 03

  Yeah.

• 39:39Caleb Hammer?

  So I'm not gonna make fun of the thing you chose.

• 39:42Speaker 03

  Yeah.

• 39:42Caleb Hammer?

  Right? I'm not going to.

• 39:43Speaker 03

  But you can say I'm unhealthy.

• 39:44Caleb Hammer?

  You can't say living a healthier lifestyle. You, you can't say that here. You can't lie. A gym membership might be nice, but you can't say healthier.

• 39:53Speaker 03

  Gym membership.

• 39:54Caleb Hammer?

  Okay, well, you can't say healthier lifestyle when a thousand dollars went just going and consuming bullshit. You cannot. I won't make fun of the thing. I follow every rule that the guest tells us to not do. She said, don't make fun of it. So I'm not going to. That's great. I respect everyone and you get to make up your own rules.

• 40:10Caleb Hammer?

  You cannot tell me that you are, this is being healthier.

• 40:14Speaker 03

  So at the end of July, I completely.

• 40:17Caleb Hammer?

  Which by the way, pause, because I'm the interrupter.

• 40:20Speaker 03

  Yeah.

• 40:20Caleb Hammer?

  Um, I apologize for that. Listen, I will agree that yes, health comes before finances. I've always said mental health comes before finances. There's been follow ups where someone's mental health got worse, their finances stayed the same. I said, focus on mental health before you do finances. Physical health absolutely does. We had a caller in to our Hammer Elite Hammer Out show, uh, where someone needed a surgery. And I said, go into fucking depth for it. You need this shit. It's not an option. You're blowing a thousand dollars going out and doing bullshit. That is not health. If you pointed in here and there was 500 on Ozempic, I'd be like, I'm okay with that. This is not health.

• 41:01Speaker 03

  Can I take one minute?

• 41:03Caleb Hammer?

  Uh, take a step outside. Take a step outside. Uh, welcome back. And I'm glad you're feeling better. We got some tears, anxiety tears, right?

• 41:09Speaker 03

  Yeah.

• 41:10Caleb Hammer?

  Okay. You know, and I wasn't gonna, uh, I was just gonna strictly move on because I was like, oh, I don't want to trigger her. But I have a no, I think Colton typed that, that you wanted to explain yourself more.

• 41:21Speaker 03

  Yeah. At the end of July, so middle of July, I went on a trip to.

• 41:28Speaker 03

  Worlds of Fun in Kansas City with my best friend. And in 2023, I started taking Wegovy.

• 41:35Caleb Hammer?

  Yes.

• 41:36Speaker 03

  I lost 80 pounds.

• 41:38Caleb Hammer?

  That's good.

• 41:39Speaker 03

  So then I had to stop it in September of last year because I switched jobs. I went from a job that paid 23 an hour to my job now that may started at 30.

• 41:50Caleb Hammer?

  So why'd you have to stop?

• 41:51Speaker 03

  My new insurance doesn't cover it.

• 41:53Caleb Hammer?

  Okay.

• 41:54Speaker 03

  And that's why I am not on them anymore. But I am just doing a total life change. At the end of July, I started, I threw out everything in my pantry that was processed and replaced it all with Whole Foods.

• 42:08Caleb Hammer?

  Which I appreciate, but that comes back to where we ended.

• 42:11Speaker 03

  Right.

• 42:12Caleb Hammer?

  You spent 700 going out to eat.

• 42:14Speaker 03

  I know. I also spent, by my calculations, about 800 on groceries.

• 42:19Caleb Hammer?

  That's good. I'm not complaining. Did you hear me call out groceries? Did you hear me call out groceries? I didn't. I complained about the going out to eat. If I'm not complaining about it, I don't care about it. I complained about the going out to eat.

• 42:30Speaker 03

  I totally get that, but.

• 42:32Caleb Hammer?

  No.

• 42:32Speaker 03

  Well, hot pot is really healthy for you.

• 42:35Caleb Hammer?

  Uh, really healthy?

• 42:38Speaker 03

  Compared to other options of going out.

• 42:40Caleb Hammer?

  Compared to other options, sure. If we're comparing getting, going to a salad or a certain versus going to McDonald's, of course, but it's still, it's, I go to hot pot. I like hot pot. It's not like, it's still incredibly high sodium and it's still a lot of things.

• 42:56Speaker 03

  But I have lost 15 pounds in the last three months, so.

• 43:00Caleb Hammer?

  Keep going.

• 43:00Speaker 03

  Yeah, I.

• 43:02Caleb Hammer?

  Keep that going. I mean, that's a win.

• 43:04Speaker 03

  For sure.

• 43:05Caleb Hammer?

  But it's the 700 going out to eat.

• 43:07Speaker 03

  Yeah, absolutely.

• 43:09Caleb Hammer?

  Budget health as well.

• 43:10Speaker 03

  Ugh, budgeting is so stinking hard.

• 43:14Caleb Hammer?

  No.

• 43:15Speaker 03

  It's hard to start with the debt and then move, like, get started, I guess.

• 43:21Caleb Hammer?

  Okay, what's hard about getting started?

• 43:23Speaker 03

  Um, just like collecting everything. It's.

• 43:27Caleb Hammer?

  Your minimum payment? But it's that difficult if you put it in a budget and not like dollar wise though, because it just tells you.

• 43:32Speaker 03

  Well.

• 43:33Caleb Hammer?

  You get it all.

• 43:34Speaker 03

  I can't afford dollar wise, so.

• 43:36Caleb Hammer?

  No, that's a literal blatant lie. You spend 700 going out to eat.

• 43:40Speaker 03

  That's true.

• 43:40Caleb Hammer?

  It is.

• 43:41Speaker 03

  But also.

• 43:42Caleb Hammer?

  A month. Well, like, I can't afford, like.

• 43:45Speaker 03

  With, oh, hey. I would like to explain to you. It's a podcast. Can I talk?

• 43:52Caleb Hammer?

  You can, but that was a lie that you can't afford it.

• 43:55Speaker 03

  Well.

• 43:57Speaker 03

  Yes.

• 43:58Caleb Hammer?

  This way in these bullshit alone is 400. So I like, what?

• 44:02Speaker 03

  Also with my ADHD, out of sight, out of mind. If I don't have it in front of me, I forget to do it. So I have a budget book.

• 44:12Caleb Hammer?

  Your subscriptions, you already spend $47.39 a month.

• 44:15Speaker 03

  Yeah.

• 44:16Caleb Hammer?

  So yes, you can afford it. Now, I understand that. Maybe you're better pen on paper. That's okay. But you can use that to set up because you said setting up is the hard part. So let it automate, set up and then write it down.

• 44:29Speaker 03

  So I did try setting up auto pay.

• 44:32Caleb Hammer?

  That's auto pay. I'm talking about you said it's hard getting all the debt, you know, set up in terms of minimums and payments, getting everything. Let the app automate what everything, where everything is going and then just write that down and then you can manage it from there. But if you have the hard time of just getting it set up, then again, let us system automate and write it down.

• 44:52Speaker 03

  Well, I tried Rocket Money, but it didn't make any sense to me.

• 44:56Caleb Hammer?

  Well, a lot of them have a higher learning curve, which I also agree is kind of bad. So that's why we moved on from Rocket Money and we support Dollar Wise because it's much easier.

• 45:05Speaker 03

  So I tried Dollar Wise at first. I was one of those that like started it right whenever it came out and it was real buggy. So I deleted it.

• 45:13Caleb Hammer?

  That's already done. That's, that's long and gone.

• 45:15Speaker 03

  I can try it again.

• 45:17Caleb Hammer?

  Yeah, it's a completely different app. It's not even close to what it was at the beginning. It looks completely different. Everything's different. So. It's a win-win. You get money and I get money. These are called affiliates and you get that sweet, sweet cash for signing up for some amazing products. The first one is Chime. This is a checking account that I personally use and you get up to a $350 bonus with a new Chime checking account and earn up to 3.5% APY on your savings. And second, my investing app of choice these days is Weebull and get a 2% match on all of your money that you transfer over. And finally, sign up for automated investing with Acorns. Typically the signup bonus is only five bucks, but with my link, you get $20.

• 45:58Caleb Hammer?

  Ladies and gents, you get money. I get money. Enjoy. Links are in the description below. Is it just me or did the holidays just sneak up on us this year? One second, I'm judging people for putting up decorations too early. And now I'm panicking because my guest room still looks like a storage unit. And I've bought exactly zero gifts. Beautiful, but thankfully Wayfair exists. It's your last minute holiday survival kit. I picked up a new rug, throw pillows and a set of guest towels because apparently paper towels aren't festive. All shipped fast, all for way less than I expected. And yes, the delivery was free, even for the big stuff. No dragging a dining table up the stairs like it's 1847. Wayfair's got everything. Storage for the post-holiday chaos, decor to impress the judgmental relatives, and even kitchen gear if you're feeling brave enough to host.

• 46:43Caleb Hammer?

  I'm talking gifts, guest prep, and holiday mood lighting all in one place. Get last minute hosting essentials, gifts for all of your loved ones, and decor to celebrate the holidays for way less. Head to wayfair.com right now to shop all things home. That is W A Y F A I R dot com. Wayfair, every style, every home. Let's get back to the podcast.

• 47:04Speaker 03

  But yeah, so paper and pen for me is probably the best. But I definitely want to try Dollar Wise now that you guys have fixed it. Like, uh, my brother tried it.

• 47:14Caleb Hammer?

  It's been fixed for a long time.

• 47:15Speaker 03

  He really liked it.

• 47:16Caleb Hammer?

  Yeah, it's good. The whole engineering team over there working on it. Last time it was a third party that wasn't very good. And that kind of sucks and mistake on my part. But as long as you fix mistakes, that's all that matters in the end.

• 47:27Speaker 03

  Yeah.

• 47:27Caleb Hammer?

  Listen, you have a late fee on here.

• 47:29Speaker 03

  Yeah.

• 47:30Caleb Hammer?

  Why the?

• 47:31Speaker 03

  So most of the late fees are because of, um, the platinum card and one of my milestone cards. I didn't realize that they were due earlier than my other credit cards.

• 47:46Speaker 04

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• 48:14Caleb Hammer?

  So you're on auto pay?

• 48:16Speaker 03

  So I did try to set up auto pay for all of my stuff.

• 48:19Caleb Hammer?

  Why?

• 48:20Speaker 03

  But then.

• 48:21Caleb Hammer?

  30 seconds.

• 48:22Speaker 03

  I made a payment on my student loan and I checked the little box that says use this information to set up auto pay.

• 48:29Caleb Hammer?

  Okay.

• 48:29Speaker 03

  Five days later, they took out the auto pay.

• 48:32Caleb Hammer?

  Okay.

• 48:33Speaker 03

  It's my account.

• 48:34Caleb Hammer?

  What was the payment?

• 48:36Speaker 03

  Uh, 260. So it made like my insurance.

• 48:39Caleb Hammer?

  Where that maker breaks you with where you're being subsidized and where you're spending your money. 260, well, you spend 700 going out to eat like.

• 48:45Speaker 03

  Yeah.

• 48:46Caleb Hammer?

  That's you. That is not the student loans fault. That is your fault, your spending behavior, your lack of responsibility, your immaturity. It is your fault. You've had two late payments this year. So, okay, maybe that excuse is the first one. What about the other one?

• 48:59Speaker 03

  I don't know about the other one. I don't know.

• 49:01Caleb Hammer?

  So this is behavior. This is you. This is not student loans.

• 49:04Speaker 03

  Yeah, but I'm trying to change.

• 49:06Caleb Hammer?

  Hundreds in interest this year so far. 30% interest rate. Okay.

• 49:10Speaker 03

  I asked my mom about like how, like what I would have learned from her about finances.

• 49:17Caleb Hammer?

  What I would have learned from her?

• 49:19Speaker 03

  From growing up, like being around her. I was like, how'd you handle your finances? And she was like, well, um, we didn't have savings. I didn't have 401K, but everything was paid for and you had what you needed. And that's kind of like how my life has been so far. No, I'm saying it's not good. That's how it's been and I want to change that.

• 49:39Caleb Hammer?

  Okay.

• 49:39Speaker 03

  This is what I'm saying.

• 49:40Caleb Hammer?

  Did you hear that from her?

• 49:41Speaker 03

  Last week.

• 49:42Caleb Hammer?

  Okay. I was gonna say, if you heard that growing up, like.

• 49:45Speaker 03

  Yeah, I asked her. I was like, hey, mom, I know that like we never had money for like doing a lot of stuff. So I'm just curious how you handled your finances. And she said, basically, oh, man, you're gonna love this. So my mom's first husband, uh, the father of my two older siblings died when my sister was two.

• 50:12Caleb Hammer?

  Wow, I love that.

• 50:14Speaker 03

  So she got social security death benefits from that. She didn't have savings.

• 50:19Caleb Hammer?

  Especially because you're crying, you're anxious or sad. So I'm sorry for saying this.

• 50:23Speaker 03

  Oh, no, no, go ahead.

• 50:24Caleb Hammer?

  But why the does your mom matter right now in this conversation? I don't give a about how she runs her finances. It's not you.

• 50:31Speaker 03

  What we learn is children with finances.

• 50:33Caleb Hammer?

  You only learned how she ran her finances a week ago.

• 50:36Speaker 03

  But I knew we didn't have money. I knew she didn't have savings.

• 50:39Caleb Hammer?

  So?

• 50:41Speaker 03

  And that's, I'm just saying that that's how my life has been.

• 50:43Caleb Hammer?

  Want to have savings? When I saw foreclosure notices.

• 50:46Speaker 03

  It does now.

• 50:46Caleb Hammer?

  When I saw having foreclosure notices when I was growing, dude, you're 34. When I saw foreclosure notices on my house. When I was growing up, that meant when I was 23, starting to finally learn what like money is, I was like, oh shit, I don't want to be that. So I fixed my shit by what 25, 26. I don't know, learning to 34. Ah, okay.

• 51:10Caleb Hammer?

  Okay, this is a firm.

• 51:11Speaker 03

  Yes.

• 51:11Caleb Hammer?

  At a 25% interest rate, you got Amazon, Samsung, Bluetooth headphones. That's what we need to be financing when we're getting our shit together. Yeah, we're really getting our shit together with that.

• 51:21Speaker 03

  Yep, I needed headphones for my hour walks three times a week.

• 51:25Caleb Hammer?

  No.

• 51:26Speaker 03

  No?

• 51:27Caleb Hammer?

  Your Bluetooth headphones that were more expensive than you could afford? No.

• 51:31Speaker 03

  I mean, they were, they were part of a bundle.

• 51:34Caleb Hammer?

  Need them to go on a walk. You want them for your walk.

• 51:38Speaker 03

  Okay, well, they were part of a bundle with my watch.

• 51:41Caleb Hammer?

  Bundle that you couldn't afford, did not need your watch.

• 51:43Speaker 03

  Well, the Samsung one is on 0% interest.

• 51:46Caleb Hammer?

  Okay, it's a minimum of the payment. You can't afford your minimum of the payments. You did not need it. You did not need that Oura ring that I see around your finger.

• 51:52Speaker 03

  It's actually the Samsung ring and I paid for it with my FSA card.

• 51:56Caleb Hammer?

  Okay.

• 51:56Speaker 03

  So that's.

• 51:58Caleb Hammer?

  Well, that is money going from your FSA that could be used on an annual checkup and whatnot.

• 52:03Speaker 03

  Already did. I put 3,400 a year in my FSA.

• 52:07Caleb Hammer?

  It is still your money. Just because it's tax advantage doesn't mean it's free money.

• 52:10Speaker 03

  Do you think I should lower my FSA then? Cause I max it out every year.

• 52:14Caleb Hammer?

  We're not saying that, but you're still spending that money on something that you did not need.

• 52:18Speaker 03

  FSA is use it or lose it.

• 52:20Caleb Hammer?

  Could've spent it on GLPs.

• 52:22Speaker 03

  I was going to, but it was not financially, uh.

• 52:26Caleb Hammer?

  But a ring?

• 52:28Speaker 03

  A good idea. Had to use those funds.

• 52:30Caleb Hammer?

  You did not need to get Bluetooth headphones.

• 52:32Speaker 03

  True. So.

• 52:34Caleb Hammer?

  Or the watch.

• 52:34Speaker 03

  I got the watch because I swim twice a week for an hour and the ring does not track your swimming laps.

• 52:43Caleb Hammer?

  Do you hyper need to track it though? You already know what you're doing. Put it in, put it into the, put it into the.

• 52:48Speaker 03

  Me too.

• 52:48Caleb Hammer?

  Yes, you can track things. You know how most people track their workouts? Well, a lot now on garments and shit. Absolutely, absolutely. But you know what we've done the vast majority of time when since we've had phones? You've put in how long you worked out at. What level of resistance or effort? And then it just does like what it thinks your calories is is a perfect no, but you're still tracking your workouts.

• 53:12Speaker 03

  Right.

• 53:12Caleb Hammer?

  You don't, I'm saying you don't need.

• 53:13Speaker 03

  My watch measures that though.

• 53:14Caleb Hammer?

  I know it doesn't say you don't need it.

• 53:17Speaker 03

  I don't know how to measure it without it. How do I measure my heartbeat while I'm swimming?

• 53:21Caleb Hammer?

  No, no, no, because it's not going to be an exact 100% calorie, but it is going to be in a very good range. Where you Google, if I'm this height, this weight, this age, and I swam at this effort, this pacing for this long. How many calories did I probably lose? Boom, imported, you're good.

• 53:38Speaker 03

  I mean.

• 53:38Caleb Hammer?

  And then you didn't just spend money you couldn't afford. Listen, it's not the worst. It's not the worst. I'm not dying about it, but the thing is you're trying to justify this. You're trying to justify this. You're trying to justify this. You're trying to justify everything. If we justify everything, I'm saying fuck you. Okay? If you got one of them, the watch, cool, we'll call it there. You're justifying everything.

• 53:56Speaker 03

  It was a bundle.

• 53:57Caleb Hammer?

  You didn't need to get the bundle. My gosh, lady. Okay, your minimum payments are like a hundred bucks a month. Uh, pull up your Amazon because you're buying things on Amazon too.

• 54:07Speaker 03

  Hold on, I have to sign in because I deleted it so I couldn't access it. And then I downloaded it again for you. So just a sec.

• 54:14Caleb Hammer?

  While she's pulling that up, I'll say on the Merrick Bank, we got $956.23, which is maxed out basically minimum payment $41. Oh, fees. It's an annual, a monthly fee. Okay.

• 54:29Speaker 03

  Merrick?

• 54:29Caleb Hammer?

  With interest for me. Focus on your Amazon.

• 54:32Speaker 03

  Oh, sorry.

• 54:34Caleb Hammer?

  Four years to pay this off. If we do minimum payments only, which is what we do. And don't purchase, which I'm sure once there's ability to purchase, we will. Hundreds of interest as usual.

• 54:44Speaker 03

  There's no ability to purchase on that. It's closed.

• 54:48Caleb Hammer?

  Good. That's good because you're not a credit card person. Okay. We got lots of meal prep containers. I'm not freaking out about that. A little concerned you didn't have them, but that's okay.

• 54:58Speaker 03

  Um, if you see they're returned because I spent $120 on them and then I found them on Facebook Marketplace for $24.

• 55:05Caleb Hammer?

  1,000 pens and aesthetic book shit. Espresso, classico, Columbia.

• 55:10Speaker 03

  That was for my chia pudding.

• 55:13Caleb Hammer?

  Okay. Leather repair patch tape kit.

• 55:16Speaker 03

  Oh, I got a free office chair for my at home office for work because I'm a hybrid. And it's a really nice chair, but it just had a hole in it.

• 55:27Caleb Hammer?

  Whiskers.

• 55:29Speaker 03

  For chia pudding.

• 55:30Caleb Hammer?

  Leather repair kit.

• 55:32Speaker 03

  The chair.

• 55:32Caleb Hammer?

  Wraded band.

• 55:34Speaker 03

  Watch.

• 55:35Caleb Hammer?

  I don't need commentary. Thank you.

• 55:36Speaker 03

  Well.

• 55:38Caleb Hammer?

  These aren't the worst. Most of them are things like toilet paper, tissues. This is okay. So this isn't the worst. Lots of all of a sudden charges and cords that came out of nowhere. That was, we were in an era. And then there's some, we got cases for our Bluetooth Samsung things. There's the Samsung Galaxy AI Smart Ring. How much did that cost?

• 55:56Speaker 03

  Um, I think about 350. That was not part of the ring. That was on the FSA Caleb.

• 56:03Caleb Hammer?

  It's still your money.

• 56:05Speaker 03

  Use it or lose it. So the only option I would have is lowering it.

• 56:09Caleb Hammer?

  More things to use it on. We've already talked about them.

• 56:12Speaker 03

  But I still have money.

• 56:13Caleb Hammer?

  Okay, good. It's not the worst, but it is a lot of things.

• 56:18Speaker 03

  It is.

• 56:19Caleb Hammer?

  What was the merit card used for before it was closed?

• 56:22Speaker 03

  Merit card was the trip to Hawaii last year in May. Yeah. Um, so we went to Hawaii for a week. We stayed at, uh, his company's house. And, um, we went with six other people, two of which are tech bros who make like 500K a year. And my ex who's also a tech bro and is at like 250 a year. And so I had to pay for my own food and stuff.

• 56:56Caleb Hammer?

  That's where it was going. Okay. Oh my gosh.

• 56:58Speaker 03

  So I opened a credit card so I would have the funds available because I suck at saving.

• 57:03Caleb Hammer?

  Seattle and everyone's rents went up endlessly to subsidize their Hawaiian vacation. Well done, Seattle. Maybe I need the mayor of Washington on so I can tell this for these policies. Cause at least when I had the governor of Michigan on, they don't have, it's illegal to do rent control policies because it discourages building in their city. And in the cities in Michigan.

• 57:24Speaker 03

  Well, with all the construction I see, I don't think they're not building.

• 57:28Caleb Hammer?

  They're building a lot slower than demand though. A lot slower than demand. Why do you think the cost of living is so substantially higher there?

• 57:35Speaker 03

  I thought it was just because people make more.

• 57:39Speaker 03

  But that makes sense.

• 57:40Caleb Hammer?

  They're often correlated, though. Yes, people make a [__] ton in San Francisco, Silicon Valley, but they have to. They have to because they have to afford minimum million dollar shacks. Because they won't build density in Silicon Valley. It's crazy.

• 57:54Speaker 03

  And also like NIMBYs, right?

• 57:56Caleb Hammer?

  Yes. What do you think Seattle and rent control basically is?

• 58:00Speaker 03

  Yeah.

• 58:01Caleb Hammer?

  Okay, yeah, you're taking advantage of it. Very good. Uh, milestone. What's going on with this? Because it's basically maxed out. Nine hundred and ten dollars and forty nine cents.

• 58:11Speaker 03

  Yeah, what I was saying-

• 58:12Caleb Hammer?

  Interest accruing, minimum payment forty six, which is what you're doing, takes three years to pay off.

• 58:16Speaker 03

  Um, what I was saying earlier is I have always very much been the kind of person who like makes the payment and then spends what's left, like what you just freed up.

• 58:29Caleb Hammer?

  So yeah, didn't we already basically see that on the affirm and Capital One? Yeah.

• 58:33Speaker 03

  Yeah, um, so-

• 58:35Caleb Hammer?

  That's still happening. Not I have been, you are.

• 58:38Speaker 03

  Yeah.

• 58:39Caleb Hammer?

  So closing is a good step because I would close cards that you cannot manage. Because again, it's the hammer that's swinging back hitting you in the eye.

• 58:46Speaker 03

  I was trying to pay them down and I was, I just kept spending on them.

• 58:49Caleb Hammer?

  I'd close everything, including your affirm.

• 58:51Speaker 03

  As soon as I pay them off, I'm planning on it, but it's getting hard to get them paid off. And I don't know where my money's going.

• 58:58Caleb Hammer?

  Well then, obviously that's not [__] working.

• 59:01Speaker 03

  Okay, so this is new. I just did this, but my usual-

• 59:05Caleb Hammer?

  You don't know where your money's going.

• 59:06Speaker 03

  My usual is this, where I just write down my month, my bi-weeklies.

• 59:12Caleb Hammer?

  Yeah, I'm sorry, your system's not working. Listen, yeah, you went super girly with it and it's cute. We love it, but it doesn't [__] work for you, so I don't give a shit.

• 59:20Speaker 03

  So I don't know what else to do, though.

• 59:22Caleb Hammer?

  We've already discussed it, dude. Use an automated app, even if it's you're less inclined to look at it. Set reminders for yourself.

• 59:30Caleb Hammer?

  They exist for a reason. And why do they cost money? Because every single account you connect automatic costs us money. So it has to cost money. Trust me, the margins are not as great as everyone thinks they are. Most budgeting apps lose money. In fact, we know one of our competitors, Monarch, loses money. At least we have a slight profit margin. Oh, they're pretty big, but.

• 59:49Speaker 03

  I kind of have a plan.

• 59:51Caleb Hammer?

  For a 35.9% interest rate. What's your plan?

• 59:54Speaker 03

  Yes, so.

• 59:56Caleb Hammer?

  This next one's over maxed.

• 59:59Speaker 03

  So I'm selling my house.

• 1:00:01Caleb Hammer?

  Good.

• 1:00:02Speaker 03

  We'll talk about it later.

• 1:00:03Caleb Hammer?

  Yes.

• 1:00:04Speaker 03

  It's worth twice what I owe on it.

• 1:00:06Caleb Hammer?

  I hope so. Where are you getting that information from?

• 1:00:09Speaker 03

  My Realtor.

• 1:00:11Caleb Hammer?

  Not good information. Okay.

• 1:00:13Speaker 03

  And also Zillow, but I know Zillow is.

• 1:00:15Caleb Hammer?

  It's not great, but at least it aggregates data a little better than a Realtor who might just be trying to sell you on it.

• 1:00:21Speaker 03

  Yeah.

• 1:00:22Caleb Hammer?

  Okay. Okay, well, that'd be nice.

• 1:00:24Speaker 03

  So I'm hoping.

• 1:00:25Caleb Hammer?

  That's a debt payoff plan, but that's not a sustainable debt payoff plan. Because again, that's like bankruptcy or consolidation without changing the behavior in the first place. And I see last month's behavior, still spending a thousand dollars, which is over a fourth of your income on bullshit. At a minimum, by the way, it's probably closer to a third. We'll see. So would I immediately destroy all the equity you have in your house to build all your debt back up again? I wouldn't necessarily suggest so. You can say you're different, but I've seen it on the show every time someone's tried to do that.

• 1:00:52Speaker 03

  Well, I already closed all of my credit cards and deleted all of the apps off my phone, except for the ones that I had to re-download.

• 1:01:00Caleb Hammer?

  It's a good start. I'm not saying it's a bad step.

• 1:01:02Speaker 03

  I'm not.

• 1:01:02Caleb Hammer?

  If you don't change your behavior for proven three months before you do this, though, then I wouldn't do it. Because it needs to be sustainable. Exactly. It needs to be sustainable. Everyone can delete DoorDash from their phone. I need to see what it looks like over the course of a few months before you jump the gun.

• 1:01:16Speaker 03

  And I'll come back on the follow up show and we'll see that.

• 1:01:19Caleb Hammer?

  So why are you over the limit on this second milestone card?

• 1:01:22Speaker 03

  Late fees, because I didn't realize.

• 1:01:24Caleb Hammer?

  Why are you late?

• 1:01:25Speaker 03

  I didn't realize it was due earlier than my other cards. But also, also, I found out recently.

• 1:01:31Caleb Hammer?

  You're talking about auto pay.

• 1:01:32Speaker 03

  Because I don't have the extra money chilling in my account to cover it.

• 1:01:35Caleb Hammer?

  Yeah, you spent a thousand on bullshit.

• 1:01:36Speaker 03

  I know.

• 1:01:37Caleb Hammer?

  You say you have some reasonable talk throughout this conversation. You look at your decisions you're doing right now. This makes no sense.

• 1:01:43Speaker 03

  Yeah.

• 1:01:44Caleb Hammer?

  I don't like you. You say some reasonable talk to not get pushed back, and I appreciate that. But like, what the? Look what you're actually doing. That makes no sense. Oh, I didn't have $45? Fuck off. 107. Well, no, it's because you were late.

• 1:01:56Speaker 03

  Yeah. Also, the late fees over the last couple of months are on purpose. They're on purpose because since they're closed, I did the thing where I called them and asked them if they could lower the interest so I could get it paid off.

• 1:02:10Caleb Hammer?

  Uh huh. Except that's the late fees for the past few months. I've had a late fee almost every month this year.

• 1:02:15Speaker 03

  So that one, they lowered it to 0% interest because it has been late so many times. My other two cards with that same company.

• 1:02:24Caleb Hammer?

  It was late so many times. I understand the past couple of months. It's been all year.

• 1:02:27Speaker 03

  It took, it was.

• 1:02:29Caleb Hammer?

  All year.

• 1:02:30Speaker 03

  I had it set up to come out on my second paycheck of the month, not realizing that it was due.

• 1:02:35Caleb Hammer?

  All year?

• 1:02:36Speaker 03

  Yeah. I just realized it a couple of months ago.

• 1:02:38Caleb Hammer?

  So it's like looking at stoplights. This isn't capable.

• 1:02:42Speaker 03

  Sure. If that's what you want to say, Caleb.

• 1:02:44Caleb Hammer?

  Well, I mean, it's been all year. You weren't seeing anything happen. You're writing it all down in your fancy little books.

• 1:02:49Speaker 03

  Yeah.

• 1:02:50Caleb Hammer?

  So obviously it doesn't work.

• 1:02:51Speaker 03

  The fancy little book is just writing down what is due during that paycheck and then I go in and make those payments.

• 1:02:57Caleb Hammer?

  You don't check if you ever make the payments on time?

• 1:03:00Speaker 03

  I wasn't at the time.

• 1:03:03Speaker 03

  Also, so that one is now 0%, um, so I can pay it off, but the other two are not eligible for the 0% because they've never had a late fee. So for the next three months, those will be late because I would rather have the 0% interest.

• 1:03:19Caleb Hammer?

  How late though?

• 1:03:21Speaker 03

  Um, it just less than 30 days.

• 1:03:23Caleb Hammer?

  Cause it could

• 1:03:26Caleb Hammer?

  hit as a mist on your credit.

• 1:03:27Speaker 03

  No, no. Yeah. It would only be like, they send me a notice saying it's late. I go in and pay it. Absolutely not wanting it to hit my credit.

• 1:03:35Caleb Hammer?

  I hope so. Based on how you manage things, if you actually manage that appropriately, very curious.

• 1:03:40Speaker 03

  I have worked really, really hard over the last several years to get

• 1:03:47Speaker 03

  my credit where it is. So.

• 1:03:49Caleb Hammer?

  Where's your credit?

• 1:03:49Speaker 03

  I don't want anything to hit it. It's not great, but it's 622.

• 1:03:56Speaker 03

  Pulled up from like 520.

• 1:04:00Speaker 03

  I'm trying, Caleb, I'm trying.

• 1:04:06Caleb Hammer?

  Six hundred eighteen dollars fifty one cents on this destiny card. Almost maxed out again, twenty one minutes to pay off, two years basically. Forty three dollar minimum to payment. What's going on with this card?

• 1:04:16Speaker 03

  Uh, originally open for Hawaii and not just by-

• 1:04:19Caleb Hammer?

  Two cards?

• 1:04:20Speaker 03

  Oh, four.

• 1:04:22Caleb Hammer?

  Great. Multiple late fees this year. Are we surprised?

• 1:04:24Speaker 03

  Close and stuff like that.

• 1:04:28Caleb Hammer?

  Thirty six percent interest rate.

• 1:04:30Speaker 03

  Yeah, it's insane. Concora, the company who owns those three cards. Uh, it's kind of like, I don't know, just crazy interest rates that I never thought were even possible.

• 1:04:44Caleb Hammer?

  Credit one.

• 1:04:45Speaker 03

  Yep.

• 1:04:45Caleb Hammer?

  The worst of the worst. What is going on with this?

• 1:04:51Speaker 03

  So that one, I actually closed it, um, several months ago.

• 1:04:56Caleb Hammer?

  Okay, you've closed the whole, I don't know.

• 1:04:58Speaker 03

  They sent me a notice asking if I wanted to reactivate it.

• 1:05:02Caleb Hammer?

  Yeah, they want your money.

• 1:05:04Speaker 03

  I felt like I was doing better at the time.

• 1:05:06Caleb Hammer?

  And see, this is the concern with all the good talk she's had. With the good talk of like, I'm gonna, I'm fixing, I'm fixing, I'm fixing. She just did this. She thought she fixed it like a month ago, then she reopened and [BLEEP] it. Dude, no, you can't do this. You can't give me all that good talk, that good soft talk, when you literally just proved a month ago that it didn't work.

• 1:05:26Speaker 03

  I know. That's why I re-closed it, Caleb.

• 1:05:29Caleb Hammer?

  You asked for it and I'm delivering. A way to connect the dots, to see how the stuff we talk about applies to you, your money, your debt, and your goals.

• 1:05:41Caleb Hammer?

  The wait is over because Master Money, my all-in-one personal finance platform, is finally live. Inside, you'll get access to all of my courses, budgeting templates, calculators, a community of like-minded budgers, exclusive content, weekly tips, and free access to the Dollar Wise Premium Budgeting App. Learn everything from budgeting to investing. Tune in weekly for Behind the Budget, a Master Your Money exclusive, and join members' monthly challenges to celebrate your wins. And since it's Black Friday, I'm giving you access to our members' exclusive audits, financial audit post shows, and more insider content in our newly upgraded Hammer Elite 3.0 membership. I've wrapped it all into what I'm calling the Ultimate Hammer Bundle.

• 1:06:27Caleb Hammer?

  Sign up for Master Your Money today and get lifetime pricing at just $39.99 a month, over $100 in annual savings, and access to the Dollar Wise Budgeting App Premium Version, one month of Hammer Elite 3.0 for free, plus a free budget-friendly cookbook that you can download. This insane offer ends after Black Friday, so if you want to master your money, click below and get started today. Guys, just real quick, don't forget to take your Hammer financial score at CalebHammer.com, see where you stand, where you got to do better, where you're doing shit. Listen, it just takes a few minutes and it is free. Figure out where you stand in the world of money, CalebHammer.com. Yeah, I'm glad you did, but I'm talking about how you immediately thought you did better after like a month, so you reopened it, then you [__] it, now you're going to sell your

• 1:07:12Caleb Hammer?

  house, goes, "Oh, we fixed it, we're fixing it, I'm going to pay it off and it's all going to be good." No, you just proved you can't do that.

• 1:07:18Speaker 03

  No, that's why I have a plan in place and I'm not ever going to be a credit card person. No matter, okay, so I have coworkers, I have a coworker who I told him I closed my credit cards, and he looked at me, he said, "How are you going to pay for anything?"

• 1:07:32Caleb Hammer?

  I don't give a [__] about your coworker.

• 1:07:33Speaker 03

  And multiple people have said that to me.

• 1:07:36Caleb Hammer?

  I don't care about them.

• 1:07:37Speaker 03

  debit card, I'm just saying this is like the Seattle attitude.

• 1:07:43Speaker 00

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• 1:08:12Caleb Hammer?

  Guys, it's the Seattle Attitude. You gotta have credit cards. No one else thinks that. You're weird. You...

• 1:08:25Caleb Hammer?

  Why do you think that only happens in Seattle?

• 1:08:27Speaker 03

  I had-

• 1:08:27Caleb Hammer?

  East side. Uh, making friends in a dollarhead after school. Using credit cards to buy things. Only in Seattle.

• 1:08:36Speaker 03

  No, maybe it's a Missouri-

• 1:08:39Caleb Hammer?

  No, it's not, it's everywhere. It's an everywhere thing. Everywhere has all of those things.

• 1:08:45Speaker 03

  I had never heard before people only spending on their credit cards and then paying with their checking accounts. That's not something that-

• 1:08:53Caleb Hammer?

  Okay.

• 1:08:54Speaker 03

  I knew existed, like, they don't use debit cards at all. Who does that? Do you? Do you do that?

• 1:09:03Caleb Hammer?

  Yes, of course.

• 1:09:06Speaker 03

  We live very different lives.

• 1:09:07Caleb Hammer?

  Yeah, you're-

• 1:09:09Speaker 03

  I know.

• 1:09:09Caleb Hammer?

  I'm not. We do. I fixed it.

• 1:09:14Speaker 03

  I'm trying to fix it.

• 1:09:16Caleb Hammer?

  Yeah. I know.

• 1:09:17Speaker 03

  We'll do, maybe.

• 1:09:18Caleb Hammer?

  Well, I hope you do, of course. But like this, the way you talk about things is concerning me.

• 1:09:24Speaker 03

  I'm trying to be optimistic.

• 1:09:26Caleb Hammer?

  Exactly. And optimism is okay, but blind optimism is not. Because you're kind of setting your, you know what you're doing? You're taking the W before it's happened.

• 1:09:37Speaker 03

  Okay.

• 1:09:38Caleb Hammer?

  There is, there was, there was some report or study done on, um, uh... We've already talked about weight, so like, uh, essentially it's been like, you go up to someone after you've dieted from work. You're like, "I'm on a diet." And you already get that win that you would have felt if you actually actively dieted and worked out for a few months. And someone said, "Wow, you're starting to look good." You immediately get that win even though you've done nothing. You're getting the win of saying, "I'm going to work on it, it's going to get better," instead of actually putting in and getting the results.

• 1:10:07Speaker 03

  Yeah.

• 1:10:08Caleb Hammer?

  So that's why you're doing all this self-talk and all this positive talk and all this... Listen, optimism's okay. I'm not saying don't be optimistic, but you're already accepting the win before you've even done anything. Because we see here and it's only an L. And your actual behavior and spending that you've done and are doing at this exact moment are only an L.

• 1:10:26Speaker 03

  Yeah.

• 1:10:27Caleb Hammer?

  Not a win.

• 1:10:27Speaker 03

  So, I think that my mindset has changed a lot-

• 1:10:31Caleb Hammer?

  Cool, mindset, not behavior, so I don't care.

• 1:10:33Speaker 03

  Because-

• 1:10:34Caleb Hammer?

  I'm sorry, I'm not gonna hand a win to it. I'm not, just for the sake of being a nice-

• 1:10:38Speaker 03

  I don't want the win.

• 1:10:39Caleb Hammer?

  Then I don't care what you're saying.

• 1:10:41Speaker 03

  Okay.

• 1:10:41Caleb Hammer?

  I'm sorry about that. Like, just because you're crying too, and I'm sorry. Like, I am not going to just sit here and treat you different, right? I'm not going to. I'm not going to, because your mindset has changed, excuse the behavior not changing. Like, I'm not.

• 1:10:58Speaker 03

  I'm not trying to excuse, I'm just trying to explain.

• 1:11:00Caleb Hammer?

  But the explanation is to cope.

• 1:11:02Speaker 03

  Okay.

• 1:11:03Caleb Hammer?

  It is a preemptive victory, a preemptive victory lap that has not been earned.

• 1:11:07Speaker 03

  Okay.

• 1:11:08Caleb Hammer?

  So do it, come on the follow-up channel. Follow, go on the follow-up channel, and I'll give you all the high fives in the world. No, no, no, I'm not telling you what you're supposed to do, but I will tell you what you shouldn't do. And what you are doing throughout a lot of this conversation, and we've honestly probably cut some of it because it's been absolutely obnoxious, is you're, you're, you're...

• 1:11:28Caleb Hammer?

  What are you crying about?

• 1:11:29Speaker 03

  I'm, it's just reverberations from earlier. It's, I'm not upset.

• 1:11:36Caleb Hammer?

  Okay. I feel like you're...

• 1:11:38Speaker 03

  It's just anxiety.

• 1:11:39Caleb Hammer?

  No, I get it. I, as an anxious person, I get it. I really do. I understand. Every single time I say, "Hey, this is bad," you're like, "Well, I, you know, I have 100% changed, and I'm changing, and I'm gonna change it, and everything's changed." It's not. And I'm not allowing you to take that victory lap, because it won't result in anything. Because you know what you, in your brain, wants from that, and what you're hoping for? Is a high five, walk out the door. Like, that's what you're instinctively wanting. You're wanting the positive benefit that comes before the change has been actually provided, that provides the hands, like, the high five. Come on the follow-up show, show that you've done it in the behavior, and I will give you a high five. You can't come on here and say, "I'm changing, it's going to change, and everything's great," while everything on paper is completely [BLEEP] and expect a high five.

• 1:12:22Caleb Hammer?

  That is not gonna happen, and I'm not gonna allow it. And it's, that's a bad way to live. Because that means you will never actually go and do the work to get the reward of actually feeling good, because you're already feeling good, telling yourself you're gonna do it. Okay. So, minimum monthly payment on here is $59.

• 1:12:40Speaker 03

  Yep.

• 1:12:42Caleb Hammer?

  Uh, interest fees, yeah. You only paid 30 towards it.

• 1:12:46Speaker 03

  Oh, is it credit line?

• 1:12:47Caleb Hammer?

  And a late fee. And a late fee.

• 1:12:49Speaker 03

  Which was taken off.

• 1:12:50Caleb Hammer?

  Cause you're a late fee, so it is usually 30. Taken off that time. We've had fees this year like crazy. Interest this year like crazy. Over the credit limit, if I'm not mistaken. Great, okay. Capital One Quicksilver, what's going on?

• 1:13:04Speaker 03

  Um, so that was a Walmart card. Um, that was transferred over to Quicksilver, so only ever used on groceries. Um, I have since closed it because I would make the payment and then go get groceries and surprise.

• 1:13:22Caleb Hammer?

  Yep, transactions, I'm having a transaction right here. At Walmart, it just happened. It's, I'm glad you did everything like the day before you came on the show. Like, I'm sorry, this is what you just did, you just purchased at Walmart.

• 1:13:36Caleb Hammer?

  Interest accruing.

• 1:13:37Speaker 03

  What's the rate on that one?

• 1:13:39Caleb Hammer?

  30.99. IRS?

• 1:13:42Speaker 03

  Yeah.

• 1:13:44Caleb Hammer?

  What?

• 1:13:45Speaker 03

  They say that I didn't file in 2018. Um, but I've never not filed.

• 1:13:51Caleb Hammer?

  Not correctly. Clearly.

• 1:13:54Speaker 03

  Yeah, so it's, that

• 1:13:57Caleb Hammer?

  Is it ever your fault?

• 1:13:58Speaker 03

  I mean, it's my fault that I didn't file, for sure, it was

• 1:14:03Speaker 03

  I'm just saying that I didn't realize that I didn't file.

• 1:14:07Caleb Hammer?

  Okay.

• 1:14:08Speaker 03

  Yeah, I'm not trying to say that any of this isn't my fault, or it's

• 1:14:11Caleb Hammer?

  Well, you just said, but I file every year, so.

• 1:14:13Speaker 03

  No, I said I I have filed every year, I didn't know that I didn't file. Okay, 2019 was

• 1:14:21Caleb Hammer?

  It's only 558, you spent more on bullshit last month, you could have killed this.

• 1:14:25Speaker 03

  Yeah.

• 1:14:26Caleb Hammer?

  But I thought you fixed it, I thought you fixed everything.

• 1:14:30Speaker 03

  Well, whenever I do my weekly, like my bi-weekly budgets, it doesn't feel like I have the money to do that.

• 1:14:37Caleb Hammer?

  Cause you spend it all on bullshit.

• 1:14:40Caleb Hammer?

  Does your bi-weekly budget tell you that?

• 1:14:42Speaker 03

  No, it just tells me I have like $200 left over after my fixed costs.

• 1:14:47Caleb Hammer?

  I don't think your cute little pamphlet is working on.

• 1:14:50Speaker 03

  You might be right, but I, I want to change that and I want to do better.

• 1:14:56Caleb Hammer?

  There it is. Well, which I appreciate it. I want you to as well. That does not excuse that this just happened. Cause that's what every single guest will say on repeat when they can't handle pushback. I know what you want. Congratulations. You are like, what? Okay. A question from me.

• 1:15:12Speaker 03

  Yeah.

• 1:15:12Caleb Hammer?

  Sincere. What do you want from me when I tell you this is bad? What you did was bad? And then you say, well, I want to change it and do better.

• 1:15:20Speaker 03

  Yeah.

• 1:15:20Caleb Hammer?

  Do you want a hug?

• 1:15:21Speaker 03

  No.

• 1:15:21Caleb Hammer?

  Because the reality is, cool, I'm glad you want it. You're doing nothing to fix it. So I'm not just going to accept the fact that you want it and it's okay.

• 1:15:30Speaker 03

  Well, I tried.

• 1:15:31Caleb Hammer?

  You handle every piece of pushback with, well, I'm going to change it. I'm doing better. No, you're not.

• 1:15:36Speaker 03

  I tried to set up a payment plan for it, but it doesn't give me the option.

• 1:15:39Caleb Hammer?

  You don't, dude, you spent more than this a bullshit last month. You just kill it.

• 1:15:44Speaker 03

  I know. I didn't realize that I spent that much until I crunched the numbers. When I was sending you guys the statements and.

• 1:15:53Caleb Hammer?

  It's a late penalty. Wait, another IRS?

• 1:15:56Speaker 03

  All of that.

• 1:15:56Caleb Hammer?

  Is this a separate IRS?

• 1:15:58Speaker 03

  Yeah, that's for this year. It's just what I owe for this year.

• 1:16:02Caleb Hammer?

  Good dude, what are we doing?

• 1:16:06Caleb Hammer?

  Please don't tell. Why is there a third IRS?

• 1:16:09Speaker 03

  No, that's the same one.

• 1:16:11Caleb Hammer?

  Oh, amount passed through. You passed on your minimum?

• 1:16:13Speaker 03

  No, that's just the amount that I owe from 2024, 5366.

• 1:16:18Caleb Hammer?

  Why do I have $555.22?

• 1:16:20Speaker 03

  That's the 2018 one.

• 1:16:22Caleb Hammer?

  No, I have 558 and 555. I have two separate balances.

• 1:16:27Speaker 03

  No, there's only one.

• 1:16:29Caleb Hammer?

  Literally? From last year, you owe $53 and you haven't paid that?

• 1:16:34Speaker 03

  Well, no, not yet. I'm going to.

• 1:16:37Caleb Hammer?

  Oh, she's going to. Okay, so she's excused. Oh, no, no, no, everyone. She won financial audit. She won. She gets rid of, there's no pushback required. What? How can, after we just had that conversation? You've had all year! It's the 11th of month tomorrow! What? I'm going to? Fuck you.

• 1:17:01Speaker 03

  Yeah, it's out of sight, out of mind, Caleb.

• 1:17:03Caleb Hammer?

  That is not an answer I will ever allow on this show in the history of the fucking world. Especially from you at this point. You're a repeat fuck record. I'm going to? You should have. Yesterday, this morning, right now.

• 1:17:18Speaker 03

  Should have, could have, that's hindsight 40/40, but we're here today.

• 1:17:22Caleb Hammer?

  No, you are not getting out of this conversation from "I'm going to," you've had all year.

• 1:17:26Speaker 03

  Yeah, no, I'm totally fine with you. You're looking at me as how to, but... What do you want me to say, Caleb?

• 1:17:32Caleb Hammer?

  I'd rather you shut up than not say that.

• 1:17:34Speaker 03

  Okay.

• 1:17:35Caleb Hammer?

  Good fuck, "I'm going to?" No, maybe you can tell me why you didn't, but don't give me a cope "I'm going to," when everything here suggests, "No, the fuck you won't." Like, I will not accept it as an answer. You can tell me the why behind something, but don't give me the cope, "I want to change, I'm going to change, I am changing," when, no.

• 1:17:55Speaker 03

  At the time, I didn't have the money on me.

• 1:17:57Caleb Hammer?

  $55?

• 1:17:58Speaker 03

  And then I forgot about it. Out of sight, out of mind. Until I pulled the statements, I forgot that it was there. They don't send you a monthly statement.

• 1:18:08Caleb Hammer?

  No, but they will garnish your wages.

• 1:18:12Caleb Hammer?

  I don't even know, man.

• 1:18:13Speaker 03

  And I will be the one to process that garnishment.

• 1:18:15Caleb Hammer?

  Your attitude on all this stuff and the way you view the world is like, it's just unhealthy. I need, I might need you to change your worldview before you change your budget. How you interact with all this. I know you're trying to be positive for the sake of positivity. That's all good and well. If it's resulting in harm, which it is, then I don't give a

• 1:18:37Speaker 03

  So I have kind of changed my worldview over the last eight years. Wait,

• 1:18:42Caleb Hammer?

  Did you just hit me with a, I just changed again?

• 1:18:45Speaker 03

  No, no, let me explain. When I first started getting credit cards in 2012, I had in my head that it was, I was never going to pay it off. So it didn't matter if it was maxed out.

• 1:18:58Caleb Hammer?

  They're all maxed out today.

• 1:18:59Speaker 03

  I know.

• 1:19:00Caleb Hammer?

  Tell me how that has changed in two years.

• 1:19:06Speaker 03

  How that has changed?

• 1:19:07Caleb Hammer?

  You said you changed your philosophy in two years about credit cards.

• 1:19:09Speaker 03

  So I

• 1:19:10Caleb Hammer?

  And you said back then you'll never pay them off. They'll always be maxed out. Two years later, they're maxed out.

• 1:19:15Speaker 03

  Yeah. So I used to just treat them like a utility payment, just a monthly payment that I had. And now when I

• 1:19:22Caleb Hammer?

  Only making your monthly payments right now.

• 1:19:25Speaker 03

  I know.

• 1:19:28Speaker 03

  I'm not saying that it's good, Caleb. I'm not

• 1:19:30Caleb Hammer?

  I know you're not, I'm not saying you're saying that, but you're saying you changed in two years? No?

• 1:19:35Speaker 03

  Yeah, I started watching your show and I'm like, oh shit, no, yeah, you're right. I need to take care of this.

• 1:19:43Speaker 03

  Yeah.

• 1:19:43Caleb Hammer?

  Okay.

• 1:19:44Speaker 03

  I know.

• 1:19:45Caleb Hammer?

  I'm glad we went down the story. You didn't do anything. Gosh, I feel like I'm being mean, but you're just, you're giving me insanity to work with. Like that was crazy.

• 1:19:55Speaker 03

  Yeah.

• 1:19:55Caleb Hammer?

  Come on. I don't want to just bully you, but what the was that?

• 1:19:59Speaker 03

  Multiple changes of worldviews and I need to change again.

• 1:20:03Caleb Hammer?

  Personalities. I can't tell.

• 1:20:05Speaker 03

  I mean, I am a Gemini, so.

• 1:20:10Caleb Hammer?

  $2,468.04 owed on this Chevy EV Volt. What's your minimum monthly?

• 1:20:16Speaker 03

  Um, so technically the minimum monthly is 280, but I pay 250.

• 1:20:24Caleb Hammer?

  You pay less?

• 1:20:27Speaker 03

  Yes. So, this car was purchased in conjunction with my ex.

• 1:20:34Caleb Hammer?

  Oh, he sends in?

• 1:20:36Speaker 03

  Last April.

• 1:20:37Caleb Hammer?

  Okay.

• 1:20:38Speaker 03

  And, uh, he only accepts, um, zero percent from me and he just pays the payment.

• 1:20:47Caleb Hammer?

  So he only accepts zero percent from me?

• 1:20:50Speaker 03

  So I-

• 1:20:50Caleb Hammer?

  What does that mean?

• 1:20:51Speaker 03

  I offered to pay the full payment and he was like, no, you're not going to pay the interest on this. Just pay me 250 a month. And he's just been slamming down-

• 1:21:00Caleb Hammer?

  So this is his car?

• 1:21:02Speaker 03

  It's in both of our names, so-

• 1:21:03Caleb Hammer?

  Oh, okay, okay.

• 1:21:04Speaker 03

  But I actually owe 10,750 on it. That amount is how much he's paid off.

• 1:21:14Speaker 03

  And then, once it's paid off, he's going to transfer it into my name.

• 1:21:17Caleb Hammer?

  What in [bleep] death?

• 1:21:20Speaker 03

  I mean, I didn't buy a brand new car when I needed a new car, Caleb. I went and got a used car and I got a good deal on it.

• 1:21:26Caleb Hammer?

  Oh my gosh, she just wants high fives. I swear, this entire conversation, you literally just want high fives. Is it because you're a fan of the show? I'm sorry, that's not how I'm going to treat, like, I'm never going to treat someone like that. I'm not going to treat you bad and treat you bad, but I'm also not just because you're like the show. I'm, don't, don't come on here, calebhammer.com/apply. If you're looking just for hugs and kisses from me, I'm sorry.

• 1:21:47Speaker 03

  Uh, no, thank you.

• 1:21:49Caleb Hammer?

  Uh, what? Have you listened to yourself this conversation?

• 1:21:52Speaker 03

  No, I'm-

• 1:21:54Caleb Hammer?

  Uh-

• 1:21:55Speaker 03

  I don't know what to say about that, sorry.

• 1:21:56Caleb Hammer?

  You don't have to answer. Do we have the value of this car? VIN's not found.

• 1:22:02Speaker 03

  Um-

• 1:22:03Caleb Hammer?

  Well-

• 1:22:03Speaker 03

  Well, the last time I looked on KBB, it was 16,000.

• 1:22:07Caleb Hammer?

  When was the last time?

• 1:22:09Speaker 03

  Um, three months ago.

• 1:22:10Caleb Hammer?

  Okay, equity position? Okay, what's the interest rate on this? I know you don't pay the interest difference, but-

• 1:22:16Speaker 03

  Um, I think it was 10%.

• 1:22:20Speaker 03

  And he ended up being the signer on it because the-

• 1:22:24Caleb Hammer?

  You said you co-signed, I thought.

• 1:22:26Speaker 03

  Yeah, so he's the main person and I'm the co-signer.

• 1:22:29Caleb Hammer?

  Okay.

• 1:22:29Speaker 03

  Um, because with my credit, it was gonna be 18%.

• 1:22:34Caleb Hammer?

  Now, you wanna sell this house to rapidly pay off your debt, but the thing is, you're locked in at a 3.12% interest rate. That's incredible.

• 1:22:40Speaker 03

  I also-

• 1:22:41Caleb Hammer?

  At a $65,939 balance with a minimum payment of 622.57. Now, that minimum payment is hard to stack in with everything else you have, even though it's low for a house. So I do get, actually wanting to get that off your books, even though your friend pays for it, which helps, but what were you gonna say?

• 1:22:56Speaker 03

  It's just a pain in my rear end.

• 1:22:58Caleb Hammer?

  It is.

• 1:22:59Speaker 03

  I'm tired of dealing with it. It's, um, I just had to spend another 6,000 last week in plumbing issues.

• 1:23:06Caleb Hammer?

  Yes, that is, see, again.

• 1:23:08Speaker 03

  So I'm just over it.

• 1:23:09Caleb Hammer?

  That is the homeownership thing.

• 1:23:09Speaker 03

  Even if I wasn't gonna be making 50,000 off of it, then I would still wanna get rid of it. Because I'm, it was my backup plan when I moved to Seattle. And I've been out on my own three years now successfully, well, semi-successfully. Um, and I just don't feel like I need it anymore, and it's annoying.

• 1:23:32Caleb Hammer?

  It's worth 11,222, by the way.

• 1:23:34Speaker 03

  Okay.

• 1:23:35Caleb Hammer?

  The car. Little equity position, about a thousand bucks. And that is KPP.

• 1:23:40Speaker 03

  Glad you found it.

• 1:23:42Caleb Hammer?

  We found it. Total debt balance of what? Of, what even is this? I don't even know what this is.

• 1:23:47Speaker 03

  That's a Perkins loan. Um, they're directly from the university instead of through the government. And it was for a study abroad trip.

• 1:23:59Caleb Hammer?

  Where'd you go?

• 1:24:00Speaker 03

  England.

• 1:24:01Caleb Hammer?

  Great. What a world of difference.

• 1:24:05Speaker 03

  Yeah, we were going to, we were studying Anglo-Saxon literature, so-

• 1:24:10Caleb Hammer?

  Oh, that really translates to the job market. Okay, what is the minimum payment?

• 1:24:14Speaker 03

  On that one, that one's in default, so none right now. I didn't realize that it wasn't a part of the bundles of my other student loans. And by the time I did know about it.

• 1:24:26Caleb Hammer?

  Private loan.

• 1:24:27Speaker 03

  Yeah, I didn't understand that it was a private loan.

• 1:24:29Caleb Hammer?

  It won't get garnished unless you gave them your information. You could talk to Y refi. They're the one of our people. They help renegotiate your private loans once they've gone into default. So I checked them out.

• 1:24:40Speaker 03

  I didn't realize it was private.

• 1:24:41Caleb Hammer?

  I assume it's from an institution. I'm I would look into it. Take a look.

• 1:24:44Speaker 03

  Yeah, it's it's still.

• 1:24:45Caleb Hammer?

  Okay, what do you owe in federal student loans?

• 1:24:47Speaker 03

  Without this $2,000 one.

• 1:24:49Caleb Hammer?

  Well, that's not our federal student loan. Fifty five thousand, fifty five thousand, three hundred forty nine dollars and thirteen cents. For what? What was your degree?

• 1:24:57Speaker 03

  Bachelor's in English Literature.

• 1:24:59Caleb Hammer?

  Oh, good death. What are we doing?

• 1:25:01Speaker 03

  I mean, my company really appreciates that I have it because I write a lot of our HR related marketing stuff and like.

• 1:25:10Caleb Hammer?

  So can GPT.

• 1:25:11Speaker 03

  Employee facing documents.

• 1:25:15Caleb Hammer?

  Okay, $259 and 28 cent minimum payment.

• 1:25:18Speaker 03

  Which hurts a lot. And it just went in.

• 1:25:21Caleb Hammer?

  It's probably half of what your standard 10 year payment would be. So enjoy it while you got it.

• 1:25:25Speaker 03

  It just went into effect in August.

• 1:25:28Caleb Hammer?

  Checking account.

• 1:25:32Caleb Hammer?

  Savings $2.55.

• 1:25:36Caleb Hammer?

  Okay, okay. Capital one, auto pay debit 230. And that's going in and getting some bullshit. Okay, what are you stopping at the market and getting for $3.74 constantly?

• 1:25:47Speaker 03

  That's the cafeteria at my work. It's a, um, Monster Zero.

• 1:25:54Caleb Hammer?

  Oh, my lovely lady.

• 1:25:59Caleb Hammer?

  Try this.

• 1:26:00Speaker 03

  I just ordered the.

• 1:26:02Speaker 00

  This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed sponsored jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Hiring now? Then this is a job for Indeed sponsored jobs.

• 1:26:31Speaker 03

  Sampler pack.

• 1:26:32Caleb Hammer?

  Yes, the free samples.

• 1:26:34Speaker 03

  Yeah.

• 1:26:34Caleb Hammer?

  Which is for free. Type in code hammer. Here, take this one, though. It is really good. No more vending machine monster. Make it. I'm sure there's one that tastes like a monster. They have so many different flavors. 25 cents a serving instead of stopping in and getting that bullshit. And also 10% off of that alone. Once you order the flavors you want, link in the description below. Gamer subs dot GG. Um, but yes, energy drinks at home. Make them at work. Shaky shaky shaky.

• 1:26:59Speaker 03

  Yeah.

• 1:27:00Caleb Hammer?

  It is very good.

• 1:27:01Speaker 03

  This is four.

• 1:27:02Caleb Hammer?

  Really?

• 1:27:02Speaker 03

  Yeah.

• 1:27:03Caleb Hammer?

  Okay. Yeah, cuz, okay, monster, monster, Taco Bell, Taco Bell, uh, Klarna.

• 1:27:07Speaker 03

  So can I explain that Taco Bell? So when I, when I first started, uh, the health journey, um, I was trying to do intermittent fasting and I swam for an hour after work. So I didn't, so basically by the time I got home with traffic, I was gonna be outside of my intermittent window. And so I stopped and got Power Bowls at Taco Bell and naked nuggets from Chick-fil-A because they were the healthiest options I could.

• 1:27:39Caleb Hammer?

  At the same time?

• 1:27:40Speaker 03

  No, no, they're, I'm.

• 1:27:43Caleb Hammer?

  Can't speak for the Power Bowl at Taco Bell. I mean, wouldn't like Chipotle or something be better?

• 1:27:47Speaker 03

  Chipotle's more expensive.

• 1:27:50Caleb Hammer?

  I don't, what's, can Taco Bell really be healthy? I don't know.

• 1:27:52Speaker 03

  I mean, it's rice and beans.

• 1:27:54Caleb Hammer?

  Okay, Klarna, Monster Energy Drink, Domino's. I know they don't got a Power Bowl at Domino's.

• 1:27:59Speaker 03

  That was a crave. That was a crave. Yeah.

• 1:28:01Caleb Hammer?

  Okay. Last guy, in air flight also sounds like a crave.

• 1:28:04Speaker 03

  That was the trip to Kansas City.

• 1:28:06Caleb Hammer?

  Electrify America, Amazon, affirm, affirm, Taco Bell, Taco Bell, steam purchase, Amazon.

• 1:28:12Speaker 03

  Hold on.

• 1:28:12Caleb Hammer?

  Laundry, laundry's okay. I'm okay with that. Amazon Prime, Netflix, Coca-Cola, vending machine. Charging, charging. Yeah, you got the EV. You can't charge at home.

• 1:28:22Speaker 03

  Like, I live in an apartment.

• 1:28:24Caleb Hammer?

  They don't have charging?

• 1:28:24Speaker 03

  No.

• 1:28:25Caleb Hammer?

  Okay, then I wouldn't have gotten an EV. Zelling out money, Gran's Borough Market, Taco Bell, Amazon, yeah, Monster Energy Drink, Monster Energy Drink, Monster Energy Drink, 60.

• 1:28:37Speaker 03

  Okay, that was BS.

• 1:28:39Caleb Hammer?

  Shake Shack, they do not have a Power Bowl. Naughty squirrel, no power.

• 1:28:43Speaker 03

  No, but they have a no bun hamburger.

• 1:28:46Caleb Hammer?

  That is the greasiest patty.

• 1:28:48Speaker 03

  Yeah.

• 1:28:49Caleb Hammer?

  As a Shake Shack fanatic.

• 1:28:51Speaker 03

  It was a team lunch with the finance department.

• 1:28:53Caleb Hammer?

  It is the greasiest patty, I will say. Well, they also have a grilled chicken sandwich.

• 1:28:58Speaker 03

  You're right, you're right.

• 1:28:59Caleb Hammer?

  Yeah, I am.

• 1:29:00Speaker 03

  That would have been a better choice.

• 1:29:02Caleb Hammer?

  Tap, like a bar, bun, nothing, bun cake, don't have a powerball there. Crunchyroll, energy drink, Taco Bell, electrify America again. Okay, what's electrify America?

• 1:29:14Speaker 03

  Uh, charging my car.

• 1:29:15Caleb Hammer?

  Oh.

• 1:29:16Speaker 03

  Yeah.

• 1:29:18Caleb Hammer?

  Affirm, affirm, affirm, Shabarena? Shabarena?

• 1:29:23Speaker 03

  Um, typically my boyfriend pays for it, but uh.

• 1:29:26Caleb Hammer?

  Oolishon, vending machine.

• 1:29:29Speaker 03

  The dessert.

• 1:29:29Caleb Hammer?

  Laundry's okay, bullshit, energy drink.

• 1:29:35Caleb Hammer?

  Uh, Department of Transportation, Chick-fil-A, energy drink, energy drink, parking. Uh, bar, bar, Dairy Queen, they don't got a powerball there either. Good to go online.

• 1:29:49Speaker 03

  Uh, good to go.

• 1:29:50Caleb Hammer?

  Playstation Network.

• 1:29:51Speaker 03

  Oh, good to go as a toll for the bridge to Seattle.

• 1:29:56Caleb Hammer?

  Warner Media, so that's probably HBO, right?

• 1:29:58Speaker 03

  It was, yeah.

• 1:30:00Caleb Hammer?

  Steam purchase, McDonald's, wow, okay, that's an insane amount of bullshit spending. And a checking account.

• 1:30:08Caleb Hammer?

  And then in this one, that started $300 or, yeah, it started. Uh, I think that's rent, and a withdrawal was rejected because you didn't have enough money.

• 1:30:19Speaker 03

  Yeah, that was when the student loan took out the whole payment.

• 1:30:23Caleb Hammer?

  It was rejected twice.

• 1:30:24Speaker 03

  Yeah, but you'll see that there was also a payment of three something.

• 1:30:27Caleb Hammer?

  Retirement $5,900, okay. Dramatically behind for our age, dramatic.

• 1:30:34Speaker 03

  Dude, I know. I am freaking out about it.

• 1:30:37Caleb Hammer?

  Well, you should be.

• 1:30:39Speaker 03

  But I can't afford to put $23,000 in a year.

• 1:30:42Caleb Hammer?

  Well, no, because you spend a thousand hours a month on bullshit. You're right.

• 1:30:46Speaker 03

  But even a thousand would just be 12,000, so I'm like.

• 1:30:50Caleb Hammer?

  12,000 in retirement? Oh, no, that would definitely suck.

• 1:30:53Speaker 03

  Well, it wouldn't catch me up.

• 1:30:55Caleb Hammer?

  Okay, it would be something, you f- my gosh, what is wrong with you?

• 1:31:01Caleb Hammer?

  Okay, minimum payments not including the mortgage and we're not including the mortgage in here anyway because your friend takes care of it even though you do have expenses that pop up because you're an owner of an home, which yeah, I would get out of it if I was you as well. Seven hundred thirty-four dollars, thirty-three cents. Okay. Now, utilities, gas, electric, internet, all combined, how much?

• 1:31:18Speaker 03

  Yep, um, no gas, electric and internet is a hundred and sixty.

• 1:31:27Caleb Hammer?

  Okay, very good. Phone bill?

• 1:31:31Speaker 03

  One hundred dollars.

• 1:31:32Caleb Hammer?

  Okay, gas, vroom, vroom, drive, drive?

• 1:31:36Speaker 03

  Um, I spend

• 1:31:39Speaker 03

  a hundred and sixty a month charging?

• 1:31:45Caleb Hammer?

  Yeah, and then tolls, how much?

• 1:31:49Speaker 03

  I'm not doing tolls anymore, I'm just driving.

• 1:31:51Caleb Hammer?

  Okay, necessary food, three hundred dollars, meal prepping, meal prepping, meal prepping, TP fund, anything else you need, and it's a hundred bucks, medical, healthcare, copays, anything like that?

• 1:32:00Speaker 03

  FSA.

• 1:32:00Caleb Hammer?

  Very good, is there a gym?

• 1:32:02Speaker 03

  Um, no, because I wanted to give myself-

• 1:32:04Caleb Hammer?

  What about the pool? How much for that?

• 1:32:06Speaker 03

  It's free. Um, my cousin works for a hotel.

• 1:32:09Caleb Hammer?

  Subscriptions, let's do forty bucks. You have any pets?

• 1:32:12Speaker 03

  Uh, no subscriptions, please, I already canceled them all.

• 1:32:15Caleb Hammer?

  Uh, okay, not in there, but okay. Pet insurance?

• 1:32:18Speaker 03

  Um, no, he's too old.

• 1:32:20Caleb Hammer?

  Okay, how much for pet food?

• 1:32:22Speaker 03

  It's sixteen dollars every three months.

• 1:32:25Caleb Hammer?

  What is it?

• 1:32:26Speaker 03

  Sixteen dollars.

• 1:32:27Caleb Hammer?

  What is the, the creature?

• 1:32:28Speaker 03

  Um, he's a Pomeranian mix. He go, he buys, uh, he goes, I buy a eight-pound bag.

• 1:32:35Caleb Hammer?

  Okay, I'll say six bucks a month. Anything else that needs to be in your budget that I have not taken in account?

• 1:32:40Speaker 03

  Uh, my car insurance.

• 1:32:41Caleb Hammer?

  Oh, yes, please, how much?

• 1:32:43Speaker 03

  Uh, three hundred and fifty.

• 1:32:45Caleb Hammer?

  Okay.

• 1:32:46Speaker 03

  And...I think that's it.

• 1:32:50Caleb Hammer?

  You have, uh, one thousand eight hundred eighty-nine dollars left over, and yeah, we're subsidizing you, that's great. Okay, you get rid of the mortgage, yeah, I mean, yeah, get rid of the, if you can prove- If you can prove that you can follow a budget for two months, I will allow you to take the money from selling a house to pay off all your debt. And then you start contributing, get a fully funded emergency fund, and then start catch up on a retirement, because you gotta.

• 1:33:13Speaker 03

  Yeah.

• 1:33:14Caleb Hammer?

  That's pretty much the answer to the question.

• 1:33:16Speaker 03

  Okay.

• 1:33:17Caleb Hammer?

  That's pretty much it. I'll get you a course career certification if you ever want that, by the way, to include, like, let's get you an accounting one, maybe you can get an accounting, make some more money, so I'll get you that for free. Uh, we got some interesting things to talk about in the post show, but I'm gonna get the Hammer Financial Score first. Okay, spend a budget, overspend, zero out of 10, debt, IRS, zero out of 10, emergency fund, nothing, right?

• 1:33:39Speaker 03

  Nothing.

• 1:33:40Caleb Hammer?

  Zero out of 10, what was the retirement, 7,000?

• 1:33:42Speaker 03

  Uh, 5.

• 1:33:44Caleb Hammer?

  6, yeah, 6,000. Uh, dramatically behind, it's about a 2 out of 10. Real estate, that is okay, don't like that you don't live in it, this is okay, but it's an actually pretty okay house, great interest rate, 7 out of 10.

• 1:33:58Caleb Hammer?

  I'd have a primary residence first, but, oh, and it actually lined up almost exactly correct, so it looks like it did work, you tip. 2 out of 10. Hammer Financial Score, get yours at kalehammer.com, now click that join button and join us for the post show. There's a lot of things to talk about. She owes, oh, the person that's rented her fucking house, she owes money to, okay, we'll talk about that in the post show. Click the join button now, an extra 20 minutes of every single episode in the Financial Auto Post Show, including three premium shows posted every single day, Monday through Friday. Join Hammer Elite now, I will see you in the post show. You owe your tenant money, what does that even mean?

• 1:34:31Speaker 03

  When she came to Seattle last fall to see me, I told her that I would pay [bleep] her expenses while she was here.

• 1:34:39Caleb Hammer?

  You can't even afford to take care of yourself.

• 1:34:41Speaker 03

  I wanted her to see Seattle life.

• 1:34:43Caleb Hammer?

  While the city of Seattle is paying [bleep] for flights.

• 1:34:47Speaker 05

  Hammer Elite is the best YouTube membership on the platform, and I just upgraded it. New dedicated premium shows every single day, Monday through Friday. Join with the link in the pinned comment or description below. This is the best membership you'll ever join, and that's a promise.

• 1:35:06Speaker 06

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