Pod Insights Financial Audit Dave Ramsey Was Wrong, Now She's F*cked | Financial Audit About this episode ▶SHE HASN'T EVEN PAID OFF HER LAST COUCH- now she is looking to buy an even more expensive one... WHATTTT watch the post show here: https://www.youtube.com/channel/UCLe_q9axMaeTbjN0hy1Z9xA/join
▶▶Download my *budgeting app* today: *Apple:* https://apple.co/4iChGhr *Google Play:* https://bit.ly/sb-googleplay Don't overcomplicate this crap! All you need is an automated / SIMPLE budget. This comes with automatic account connections, my budget-friendly cookbook, an online community, and exclusive discounts on my products- change your financial future *NOW*
▶▶▶ *AND REMEMBER* those who sign up for Simpler Budget Premium *annual* get a signed versions of the Cook Book and Simpler Budget Founders Edition Journal, just send proof of annual here: https://tally.so/r/3xzPq5
Use Yrefy to refinance your private student loans today at: https://yrefy.com/hammer or call (888) Yrefy-78
Get an exclusive HighLevel 30-day trial: https://gohighlevel.com/calebhammer
Try InVideo AI for free - https://invideo.io/i/CalebHammer. You can use my code 'CALEBHAMMER50' to get twice the number of video generation credits in your first month.
▶▶▶Download my *budgeting app* today: *Apple:* https://apple.co/4iChGhr *Google Play:* https://bit.ly/sb-googleplay
▶ Watch this episode's *POST* *SHOW* + get *MORE* Financial Audit here: https://www.youtube.com/channel/UCLe_q9axMaeTbjN0hy1Z9xA/join
___________________________________________
▶EDUCATION:
1. Bundle my budgeting, debt, investing and real estate program for *15% off* https://calebhammer.com/classpack/
2. *The best budgeting program online: https://calebhammer.com/budget
3. Get my investing class and I’ll give you a $100 towards investing: https://calebhammer.com/investing
4. Win with GOOD debt and get out of BAD debt correctly, learn in my debt program: https://calebhammer.com/formula
5. Everything you need for buying your first home to buy your first investment property:
https://calebhammer.com/realestate/
6. Get your own free Hammer Financial Score: https://www.calebhammer.com
___________________________________________
▶RESOURCES
1. Checking & Savings: Get up to 3.80% APY, pay no account fees, and earn up to $300 when you sign up and set up direct deposits. Terms apply: https://creator.sofi.com/c/5535481/2068695/19219?adcampaignid=bank&adnetwork=brand *affiliate link
2. CourseCareers: Land a high-paying job with no experience or degree by going through an affordable online course https://coursecareers.com/CalebHammer
3. Get $20 from Acorns for free: sign up to get your bonus https://acorns.com/caleb
4. Get an exclusive HighLevel 30-day trial: https://gohighlevel.com/calebhammer
5. The credit building debit card: First 100,000 people to sign up for Fizz with code: HAMMER10 get $10: https://www.joinfizz.com/caleb (paid ad)
6. Helium Mobile: save a ton on your phone bill, sign up and get a FREE plan when using promo code CALEB https://hellohelium.com/
7. Online security: Protect your online privacy and security NOW and for free by following my link Aura: https://aura.com/hammer
8. Therapy: Make SonderMind your mental health home in 2025. Sign up at: https://pages.sondermind.com/caleb/
9. Stock Investing: Earn up to $5,000 in Cash Back every year on your Stocks & ETFs. Terms apply: https://silomarkets.com/caleb
All investing involves risk. Silo Financial LLC (“Silo”) is registered with the SEC. The creator receives cash compensation and is not affiliated with Silo.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Transcript 18,563 words · 7 speakers
Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.
0:00 Speaker 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.
0:31 Speaker 01 Low energy, unfocused, foggy? You might be dehydrated. Whether it's hot yoga, over 100 degree weather, or too much sun. Gator Light, with a specialized blend of five electrolytes, was scientifically designed to help move fluids into the body faster for rapid rehydration. Shop now at retailers nationwide. Gator Light hydrates faster than water. Is it in you? Symptoms noted are signs of mild to moderate dehydration. Consult a healthcare professional if symptoms persist.
0:59 Caleb Hammer? To watch episodes of Financial Audit a week earlier, check us out on YouTube. You're [bleep] thousand hours of bed down, you're gonna double your home? Oh, what are we doing? Oh, you're full Americanizing. You're so Americanizing.
1:11 Speaker 03 I've watched David Ramsey for a while.
1:13 Caleb Hammer? Is what you're doing working?
1:14 Speaker 03 Not currently. My husband works extremely hard.
1:17 Caleb Hammer? Cool, congratulations. You guys are completely [bleep]. Download my budgeting app today and take control of your money once and for all. And for a limited time only, sign up for the annual version of Premium and get my cookbook and notebook signed and mailed directly to you. Link in the description and pinned comment below.
1:35 Speaker 03 I'm Nikki, 27, from Paris, Texas, and this is the Financial Audit.
1:40 Caleb Hammer? The Financial Audit, she's here. What do you do for a living?
1:44 Speaker 03 It's a long title. I'm a technical support relationship manager for a veterinary laboratory company.
1:50 Caleb Hammer? Okay. Are you just customer support for a product to a vet clinic?
1:55 Speaker 03 Not necessarily. I would say I'm more so relationship management for like, software. Multiple different lines of software.
2:04 Caleb Hammer? What do you make?
2:05 Speaker 03 Uh, salary, I'm at seventy thousand, six hundred and fourteen.
2:08 Caleb Hammer? Not bad. You say salary, are there bonuses?
2:10 Speaker 03 There is.
2:11 Caleb Hammer? Okay, what do you make total?
2:12 Speaker 03 Uh, so my bonus I get once a year and it's about, I think it's three percent of my salary. So this last one was about three thousand dollars and then after taxes, it was about seventeen hundred, eighteen hundred.
2:25 Caleb Hammer? Okay, so what hits your account on a monthly basis? Does that?
2:28 Speaker 03 Oh, monthly basis.
2:28 Caleb Hammer? And then that salary or that bonus that just says once a year?
2:31 Speaker 03 Yes.
2:32 Caleb Hammer? Okay, so what?
2:33 Speaker 03 I have a guaranteed raise and bonus once a year in March.
2:35 Caleb Hammer? What's the raise percentage?
2:37 Speaker 03 It's, uh, so, oh gosh, I think my raise is three percent, the bonus is five percent.
2:43 Caleb Hammer? Okay, so it's like cost of living, living raise, so, okay, that's fair. What hits your account on a monthly basis?
2:48 Speaker 03 I make, I get paid bi-weekly and it's nineteen fifty-five eleven.
2:55 Caleb Hammer? Wow, down to the cent, okay. So it's three thousand, nine hundred, ten dollars and twenty-two cents in a smaller town in Texas should be relatively affordable. Why are we struggling? What's going on? Why are you here? What are we talking about?
3:09 Speaker 03 Uh, years of repeated debt cycles.
3:12 Caleb Hammer? Wha- cycles?
3:13 Speaker 03 Cycles.
3:13 Caleb Hammer? What? Tell me.
3:15 Speaker 03 They've been paid off multiple times and then maxed out again, paid off, balances occurred, uh, yeah, it's a repeating cycle.
3:23 Caleb Hammer? When's the last time you've done this?
3:24 Speaker 03 I paid almost everything off right before we moved. I got a debt consolidation loan and paid off a lot of stuff that had high interest rates. And then the move acquired some more cost, so back in the same cycle.
3:38 Caleb Hammer? Move. Where'd you move from?
3:40 Speaker 03 The Bay Area, California.
3:41 Caleb Hammer? Okay, I mean, it's kind of big. How much did you, how much did it cost?
3:44 Speaker 03 So.
3:44 Caleb Hammer? Like, you can do moves cheaply, people just refuse to.
3:47 Speaker 03 So we actually did it all by family. Um, it's been four trips now that's been done over the last year.
3:56 Caleb Hammer? Well, what's
3:57 Speaker 03 So the first
3:58 Caleb Hammer? Your entire family's moving, is that what you're saying?
3:59 Speaker 03 So it was myself, my son, my husband and my dad.
4:03 Caleb Hammer? Whoa, oh, hold on. Okay, kids and husband?
4:06 Speaker 03 Yes.
4:07 Caleb Hammer? How old's the kid?
4:08 Speaker 03 Three.
4:09 Caleb Hammer? Okay, does the husband make money?
4:11 Speaker 03 Yes.
4:12 Caleb Hammer? Am I looking at his finances today? Are you guys together?
4:14 Speaker 03 We are together. I believe some of his finances are included.
4:16 Caleb Hammer? What's his take home?
4:17 Speaker 03 Uh, he gets paid nineteen twenty-five an hour, gets paid weekly. Uh, his paychecks have been looking like six forty a week.
4:26 Caleb Hammer? Okay, so we're talking extra two thousand five hundred sixty dollars on a monthly basis. So why extra are we struggling? That doesn't really make sense. I understand the repeated cycle, but why are we not breaking it when we're making decent money in a small town? Well, and why is it taking four trips to move? Why are we just packing everything up and just going? Getting rid of most of the we have?
4:45 Speaker 03 We have. So my husband and my dad are both like long time mechanics. So they have a lot of like bigger equipment that is taking little trips. Um, forklifts, air compressors.
4:55 Caleb Hammer? Does that have to do with his job?
4:58 Speaker 03 Not right now.
4:58 Caleb Hammer? Then I personally don't give a like, put it in storage there or something, but it all like, you know.
5:03 Speaker 03 Well, that's the problem. Some of it is in storage.
5:06 Caleb Hammer? That's a problem?
5:07 Speaker 03 Yeah, cuz that's a monthly cost.
5:08 Caleb Hammer? Yeah, but how much?
5:09 Speaker 03 So it's not necessarily, my dad's paying it cuz it's his storage unit originally, but some of our stuff is in there. But yeah, it's about three hundred dollars a month.
5:19 Caleb Hammer? Why do you need, he doesn't need all these extra toys, though? Need, sake of family, kid, five year old, right? Three, so we don't need, but you know, whatever.
5:29 Speaker 03 So the goal is to start. It's not an excavator, it's a forklift and the goal is to have our own shop eventually where they can be mechanics. No, where they can work on vehicles and motorcycles.
5:41 Caleb Hammer? Because it's so expensive to get up and running.
5:44 Speaker 03 We have everything, though.
5:45 Caleb Hammer? Except for a storefront and putting like three months down a commercial property, signing a three year lease at a minimum.
5:52 Speaker 03 Mm hmm.
5:52 Caleb Hammer? Starting utilities, all that stuff.
5:55 Speaker 03 Definitely more costs, more loans included, but my dad and my husband will not let that stuff go.
6:02 Caleb Hammer? What, the, oh, the stuff?
6:03 Speaker 03 The stuff for the shop.
6:04 Caleb Hammer? Great, so.
6:05 Speaker 03 But yeah, four trips.
6:06 Caleb Hammer? Won't prioritize their family. Okay, great. That's wonderful. It's, it's your dad's included and your dad came out?
6:12 Speaker 03 Yes.
6:13 Caleb Hammer? What, what, what was this moving for? Where did we come from?
6:17 Speaker 03 So my dad was homeless, living in California and so.
6:20 Caleb Hammer? Did you tell him to stop?
6:22 Speaker 03 Stop being homeless?
6:24 Caleb Hammer? I was just joking.
6:25 Speaker 03 Okay.
6:26 Caleb Hammer? Why was he homeless?
6:27 Speaker 03 Uh, my parents split. It was a very nasty split.
6:30 Caleb Hammer? Why didn't he live with you guys?
6:31 Speaker 03 So I actually moved into my childhood home that my mom owned.
6:36 Speaker 03 So I was renting from her, so my dad was not allowed there. Yeah.
6:41 Speaker 03 Hence the move across the country.
6:44 Caleb Hammer? Why did they across the country help, though?
6:46 Speaker 03 Cost of living's so much cheaper here and...
6:48 Caleb Hammer? Yeah, but that also means incomes are as well.
6:50 Speaker 03 Well.
6:51 Caleb Hammer? Okay.
6:51 Speaker 03 So I got a raise living in California because they raised the minimum wage. So I'm getting paid California wages, living in Texas.
7:03 Caleb Hammer? Yeah. Yeah, your remote situation is pretty good, but your husband's gonna make less. Your husband's gonna make less here. Dad's gonna make less here. Anyone that has to get a job here. Is he illegal? Is he broken?
7:15 Speaker 03 No, he's disability. He's on disability.
7:17 Caleb Hammer? Broken, okay.
7:18 Speaker 03 Yeah. So he, if we were to open a shop, his whole thing would be like sitting at the counter, doing parts, inventory, things like that. My husband would be essentially a mechanic. In that aspect, he can't be, he can't work.
7:29 Caleb Hammer? There's a lot of jobs that aren't just physical. I do this job and I sit on my ass.
7:33 Speaker 03 Alright.
7:34 Caleb Hammer? So do you guys? I mean, what's the hardest, what's the heaviest thing you've lifted, Jake, earlier? A cup of coffee?
7:40 Speaker 03 It's been hard to find something that allows his accommodations. He can really only work for like two hours at a time.
7:46 Caleb Hammer? Okay. Well, I don't know his whole context of the situation. I don't need to see him. So, um, okay. Do you got an apartment here?
7:52 Speaker 03 We own our house.
7:54 Caleb Hammer? You bought a house here already? So that's included in this debt?
7:57 Speaker 03 Yes.
7:57 Caleb Hammer? Oh my, you have so many individual debts. What do we have? One, two, three, four, five, six, seven, eight, nine, 10, 11, 12, 13, 14, 15, 16, 17, 18?
8:08 Speaker 03 Yeah.
8:08 Caleb Hammer? 18, 17 before the mortgage, 18, got a house? How quickly did you get a house?
8:12 Speaker 03 So we were working with our real estate agent for about a year prior to buying this one.
8:18 Speaker 03 And we are moving solely on my income alone, not my husband's, because he didn't have a job established here yet.
8:24 Caleb Hammer? When's the last time you did a consolidation?
8:26 Speaker 03 I believe that was in twenty twenty three?
8:32 Caleb Hammer? And how many have we done? In this cycle of just?
8:36 Speaker 03 So that was the only one, but I'm considering doing another one.
8:40 Caleb Hammer? It didn't work last time?
8:41 Speaker 03 It did.
8:43 Caleb Hammer? No, you're in so much debt.
8:44 Speaker 03 Yeah, until the cycle came back.
8:45 Caleb Hammer? So it didn't work? What are you talking about?
8:47 Speaker 03 It worked to pay everything off to get us moved.
8:48 Caleb Hammer? Yeah, but that doesn't mean anything if we're back to where we were before, if not worse. It's like, no, it's a temporary, temporary happiness. Did you pay off your consolidation like that?
9:00 Speaker 03 I paid it off early. I didn't pay it off like that.
9:03 Caleb Hammer? Then that's not your debt just being gone. Okay, then that's not your debt just gone.
9:11 Caleb Hammer? It was just debt moved. You do realize that, right? Especially since you're considering this again?
9:16 Speaker 03 I am considering it just because the APRs on the credit cards are so high.
9:19 Caleb Hammer? They're brutal, but again, look, it doesn't fix your behavior. How'd you get here again? How'd you get here again? Self-diagnosed. Was it the move? No, not just the move, even though we're doing four moves for some reason. And we have two hundred twenty two thousand dollars in bad debt, eighty thou- or eighty thousand of it is bad debt. One's a mortgage, and I doubt the rate's super low knowing today, so. How did we get here again?
9:41 Speaker 03 Part of it was the move. My husband didn't have a job for the first two months that we were here. Um, so I had to carry everything on my shoulders. And then.
9:49 Caleb Hammer? But you guys didn't have an emergency fund? We don't move without an emergency fund. We didn't get a house without an emergency fund.
9:54 Speaker 03 The emergency fund got emptied for the move.
9:56 Caleb Hammer? That's not an emergency, though. I'd rather put, pops up in an apartment, you know, month-by-month apartment while we save up a fully-funded emergency fund.
10:06 Speaker 03 Well, one of the vehicles that we moved with, the transmission went out. So how to get that fixed?
10:11 Caleb Hammer? One of the vehicles we moved with?
10:13 Speaker 03 Yeah.
10:14 Caleb Hammer? How many vehicles did we move with?
10:16 Speaker 03 So.
10:17 Caleb Hammer? Because what if we just like say, oh, okay, maybe that one's not worth it?
10:20 Speaker 03 So we did sell them. Once we got here, we sold the Suburban to a friend.
10:25 Caleb Hammer? Did you make up the cost of the fix of the transmission?
10:28 Speaker 03 So we agreed to do payments. However, we have not.
10:31 Caleb Hammer? We agreed to do payments. To who?
10:33 Speaker 03 To a friend. Yeah. Thinking it was trustworthy, um, and have only received a few payments.
10:40 Caleb Hammer? They thought that you were trustworthy. Wait, what do you mean?
10:42 Speaker 03 I thought they were trustworthy to be able to do payments.
10:44 Caleb Hammer? What do you mean? They lent you money?
10:45 Speaker 03 No, we sold the vehicle.
10:48 Caleb Hammer? Well, no, I'm saying have, oh, yeah, but what did you sell it for? What number did you sell it for?
10:53 Speaker 03 I believe it was 2,000.
10:55 Caleb Hammer? How much did you put into the transmission repair?
10:57 Speaker 03 So we spent about a thousand dollars trying to repair it. It still did not work. So we were like, we're not gonna spend any of it.
11:03 Caleb Hammer? Any of the 2,000? Any?
11:05 Speaker 03 We got, I think, 300, 400?
11:07 Caleb Hammer? Okay, over the course of what?
11:11 Speaker 03 Since November, since October?
11:12 Caleb Hammer? Then, how, did you guys?
11:14 Speaker 03 So we sold all of our vehicles.
11:15 Caleb Hammer? Yeah, so how have you been getting around that?
11:19 Caleb Hammer? So if we've been through this cycle so many times, why are we buying new cars? Were they in cash?
11:23 Speaker 03 No.
11:24 Caleb Hammer? Why were we buying new cars when, hey?
11:26 Speaker 03 Used cars.
11:26 Caleb Hammer? Remember when we just had the conversation? I had to, I had to supplement the whole house because husband, we didn't rely on his, I'm like, well, we just got new cars? Getting new cars, but we can only rely on one income and move across the country because also one of the people we're with is homeless? We're getting new cars?
11:42 Speaker 03 Used cars, not brand new, but we needed a car so he could go to work.
11:45 Caleb Hammer? You had cars, you sold your cars. Costs?
11:47 Speaker 03 He couldn't get to work with those. It didn't have a transmission.
11:50 Caleb Hammer? Any of the cars? Not a singular one of those cars?
11:52 Speaker 03 The only car that we have.
11:53 Caleb Hammer? Cool, I wanna see him driving that forklift on the side of the road then.
11:56 Speaker 03 It's not a drivable forklift. It's a pushable forklift. It's manual.
11:59 Caleb Hammer? Oh my gosh. Okay. How much were these cars?
12:03 Speaker 03 So my, my car, my SUV, I think we paid 24,000. For it.
12:12 Caleb Hammer? And the other?
12:14 Speaker 03 He got a truck to help with the move with the last two moves.
12:18 Caleb Hammer? If it's for a move, then rent a truck. What did we buy a truck to help with a move?
12:24 Speaker 03 Well, we also have, my dad has a boat, so.
12:27 Caleb Hammer? His boat, sell his boat. I don't give a, he's homeless. He can sell a boat if he's homeless. I literally, you're gonna, I'm gonna lose sympathy if we have an asset that we can sell for thousands of dollars.
12:37 Speaker 03 It's not worth thousands of dollars.
12:38 Caleb Hammer? It's not worth at least thousands?
12:40 Speaker 03 No.
12:40 Caleb Hammer? It's worth a thousand? Then we're not buying a truck to haul it.
12:45 Speaker 03 It's a happy place for us. Growing up in the Bay Area, I was always on the water. It's not gonna sink.
12:50 Caleb Hammer? Okay, they could probably get a couple thousand at least, right?
12:54 Caleb Hammer? What is it a fucking like, what is it?
12:56 Speaker 03 I think it's like an eighty-nine jet boat.
12:59 Caleb Hammer? Buddy, I don't know, but we're getting a truck for it. I don't care. Again, put it under dock here.
13:04 Speaker 03 Well, my husband bought the truck and that was twenty-eight thousand.
13:07 Caleb Hammer? Oh, for fuck's sake. The guy who didn't have a job that we're relying only on your income. By the way, three-year-old.
13:14 Speaker 03 He has a job.
13:15 Caleb Hammer? Now, but you guys were relying just on your income.
13:18 Speaker 03 We bought the truck after he had a job.
13:21 Caleb Hammer? Okay, what did you say his salary was?
13:23 Speaker 03 Nineteen twenty-five.
13:24 Caleb Hammer? Okay, and we're getting the thirty thousand dollar truck that he doesn't need? Yeah, for a move.
13:30 Speaker 03 Well, and other things.
13:32 Caleb Hammer? Join a boat club here. You get better boats anyway. It's probably cheaper.
13:36 Speaker 03 There's boat clubs?
13:37 Caleb Hammer? Yes.
13:39 Speaker 03 I didn't know that.
13:40 Caleb Hammer? This is, you get access to a bunch of boats. I don't, it's.
13:43 Speaker 03 Might be something to look into, but that sounds like another debt.
13:45 Caleb Hammer? It's not a debt. It's a monthly payment, but it would have saved you from a thirty thousand dollar excuse.
13:50 Speaker 03 Well, we also have trailers that we tow around and do side jobs with.
13:53 Caleb Hammer? Stop, stop.
13:55 Speaker 03 That's extra income.
13:56 Caleb Hammer? Extra income? How long until that extra income equals thirty thousand dollars plus the interest that accrued on the truck? Exactly. You're not doing the full math behind it. It's just justifying, if I can go make an extra five dollars, I can go spend thirty thousand. Like, no. We're, look where you are. Is what you're doing working? Is what you're doing working?
14:16 Speaker 03 Not currently.
14:17 Caleb Hammer? Up, obviously. Like, that's how that works.
14:22 Caleb Hammer? Like if that was a savvy business venture and everything you're doing is okay, you wouldn't be on this show.
14:27 Speaker 03 My husband works extremely hard.
14:28 Caleb Hammer? Cool, congratulations. You guys are completely cool and you can get things that are nice when you are disciplined and you pay off the debt.
14:35 Speaker 03 And that's why I'm here. It's so disciplined.
14:39 Caleb Hammer? Should we ban that phrase from here? That's why you're here. What?
14:43 Speaker 03 Because I have paid off things before. I've watched David Ramsey for a while. I know the snowball method. I've been working on that.
14:49 Caleb Hammer? You watched who?
14:50 Speaker 03 David Ramsey.
14:52 Caleb Hammer? David Ramsey?
14:53 Speaker 03 Yeah.
14:55 Speaker 03 And that's how I got some of the debt paid off before.
14:58 Caleb Hammer? David Ramsey.
15:01 Caleb Hammer? David, I hope you're watching this.
15:04 Speaker 03 But I I've watched like the snowball method and stuff like that had things paid off before. And then life happens, debt cycles happen. And
15:14 Caleb Hammer? life, you, the, he works hard. We went on something nice. That's what happened. Life happens. Excuses happened.
15:21 Speaker 03 Excuses do happen, but it's part of life.
15:25 Caleb Hammer? Yeah, and we can make excuses on some things, but I can have an excuse to go have these to talk that out there, but it has a little less consequences than you going 80,000 hours in bad debt. What was this is a different level. This is a different level. Excuses happen? What do you mean? Okay, excuses happen. Congratulations. Go.
15:43 Speaker 03 They're justified excuses.
15:45 Caleb Hammer? Goodbye.
15:45 Speaker 03 I'm here to get this fixed.
15:47 Caleb Hammer? No, no, no, no, no, it's not that. I'm not kicking you off, but what I'm saying is excuses happen? Cool, keep that mindset. Like, we don't need to have a conversation. Keep that mindset. If that's the life you want to live, if that's the life you want to live, then live that life.
16:00 Speaker 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.
16:29 Caleb Hammer? Then why are you saying it? Because you just said it's justified. You guys are house shopping now?
16:34 Speaker 03 We are.
16:35 Caleb Hammer? What are you doing?
16:37 Speaker 03 So we-
16:37 Caleb Hammer? What world are you doing?
16:39 Speaker 03 We bought our house-
16:40 Caleb Hammer? David Ramsey would not agree.
16:43 Speaker 03 So, we bought our house and never saw it. We saw it an hour before we signed our closing papers.
16:48 Caleb Hammer? So what's the current state?
16:50 Speaker 03 Not good. We've done a lot of remodeling and a lot of repairs. That's where some of the debt came into place, too.
16:57 Caleb Hammer? I don't usually like to start with the real estate because it's boring, but let me just get a quick thing on it.
17:02 Speaker 03 Like the Home Depot cards? That's repairing the house.
17:05 Caleb Hammer? Oh, repairing? Why? Well, how was it?
17:07 Speaker 03 Bad. Um, like-
17:09 Caleb Hammer? But, but, but-
17:10 Speaker 03 I will never use that inspector again.
17:11 Caleb Hammer? Unseen, I get it, but why didn't you? Well, I do multiple inspections, so why didn't you? This is such a huge purchase. Okay, we're cutting the address from the video, but what's the address? Okay, what was the purchase price of the house?
17:22 Speaker 03 144.
17:23 Caleb Hammer? Okay. How much did you put down?
17:27 Speaker 03 Uh, I think it was like 10,000? I think it was like 5,000 for the down payment and then 10,000, or like another 5,000 in additional cost.
17:36 Caleb Hammer? You know, it's only worth $144,000 right now. Says Zillow, which usually overestimates houses.
17:42 Speaker 03 I just got my appraisal papers came in and they said-
17:43 Caleb Hammer? Appraisal through who?
17:44 Speaker 03 Through the county. Lamar County Appraisal District.
17:48 Caleb Hammer? No, that's his taxes, right? Are you talking about your tax appraisal?
17:51 Speaker 03 Maybe.
17:52 Caleb Hammer? Nah.
17:52 Speaker 03 And then-
17:53 Caleb Hammer? That's gonna be a different kind of appraisal than you're gonna get when it comes to selling a house.
17:57 Speaker 03 The lender also did an appraisal.
17:58 Caleb Hammer? Okay.
17:58 Speaker 03 Like a virtual appraisal on it.
18:00 Caleb Hammer? Okay, that also doesn't count. There's gonna be an official appraisal that happens. All right? Like, the buyer's likely going to request that.
18:07 Speaker 03 Yes.
18:07 Caleb Hammer? And, well, the bank, if they're taking out any kind of loan. So, they will, they will contract an official appraiser- to do it. And it's not a virtual thing, it's not perfect, but whatever. What did you hear?
18:18 Speaker 03 194.
18:19 Caleb Hammer? I highly doubt that.
18:20 Speaker 03 Well, so when we bought the house, everything was original from 1981.
18:24 Caleb Hammer? The internal renovations of houses aren't doing as much these days anymore. It can help a little, but it's, it's really the land. The land-
18:34 Speaker 03 It's on a third of an acre.
18:36 Caleb Hammer? Well, I know, but I'm seeing the values of it.
18:39 Speaker 03 That's part of the tractor supply built, too.
18:41 Caleb Hammer? Well, I, I hope so. I hope it's worth that.
18:45 Caleb Hammer? It sounds excited. You sound excitable about it, honestly. And here's the reality. We're in a buyer's market, not a seller's market. You do not have the say in this. Like, you can market there. That likely being overvalued is actually gonna hurt you worse, because you're gonna get less people making offers, meaning you're gonna be on the market longer, meaning psychologically, people start seeing something wrong with the house when they see it being on the market for like more than six months, and all of a sudden, no one's gonna be even seeing your house, because they're gonna see something's wrong with it. This is what happens. This is what happens.
19:11 Speaker 03 My real estate agent already has three people interested.
19:13 Caleb Hammer? Interested is nothing. Interested what?
19:16 Speaker 03 In the house.
19:17 Caleb Hammer? In what way?
19:18 Speaker 03 In buying it.
19:19 Caleb Hammer? What? They've seen it. They've toured.
19:21 Speaker 03 They've seen pictures from the outside, and then from what the real estate agent has told them.
19:25 Caleb Hammer? You're getting ahead of yourself. It's that virtual appraisal. It says, trust me, someone who's been in the buy-sell game many a times for houses, those little exciting things, I remember being excited about those as well when I did my first. And then I realized it means nothing. Once, until you get an official appraisal, it doesn't even matter. You don't even know what they're gonna... They might be interested in it. They might be interested in buying it at 150, okay? I might be interested in buying a house across the street. Maybe not at the price they want.
19:53 Speaker 03 One, looking at comparable prices, because there's multiple houses on my street for sale.
19:56 Caleb Hammer? Yeah.
19:57 Speaker 03 Like, if you're on Zillow, I think there's one on like 240.
20:00 Caleb Hammer? Don't say the news.
20:01 Speaker 03 Sorry.
20:01 Caleb Hammer? I see the 240.
20:03 Speaker 03 And then there's another one down the street for 2...
20:06 Caleb Hammer? 240 doesn't... That's not a comps. You know when they do comps? They do comps on sold homes, not for-sale homes.
20:11 Speaker 03 So there was one that just sold for 220.
20:13 Caleb Hammer? Okay.
20:14 Speaker 03 But they probably have a working HVAC and...
20:18 Caleb Hammer? You don't have a working fucking HVAC?
20:19 Speaker 03 No.
20:20 Caleb Hammer? Okay, then extra good luck.
20:22 Speaker 03 The inspection didn't call out. They said that it's working. It's not great, but it's not working.
20:26 Caleb Hammer? You didn't get a specific HVAC inspection done?
20:29 Speaker 03 I didn't know.
20:31 Caleb Hammer? Oh, people, go through our real estate class, y'all. Go through our real estate class.
20:35 Speaker 03 I really wish I'd done one.
20:36 Caleb Hammer? And one of the other ones that's worth 230 is like literally 30, 40% larger than your house. So it's actually 50% larger than your house. So that doesn't, you know, it doesn't fully equate to what we're looking at here. Now, it's Texas. Public record of terms of what the sale price is, we can't see. If you have access to the MLS, that's where you can see the official sales price. But, I don't know, I just think you're a little too ahead of yourself. I'm not.
21:03 Caleb Hammer? Oh, my, you guys put in an offer on a home?
21:06 Speaker 03 So it's a contingent offer.
21:08 Caleb Hammer? Contingent on?
21:09 Speaker 03 Once our house is in contract, then the seller accepts our offer.
21:14 Caleb Hammer? Is there a time period?
21:16 Speaker 03 So the seller of the house that we're looking at has to go back to Arizona.
21:22 Caleb Hammer? Is there a time period between that where it avoids that? No, no, no, no, no, no. Where it's like, if you don't sell your house, well, then, uh, you, we're gonna try to find another buyer. Really? Have you signed the contract?
21:33 Speaker 03 No.
21:33 Caleb Hammer? Oh, again, we're ahead of ourselves.
21:36 Speaker 03 Yes.
21:36 Caleb Hammer? This is just an endless, we're ahead of ourselves. Address for the new place.
21:39 Speaker 03 Three bed, three bath, three acres?
21:42 Speaker 03 No.
21:45 Speaker 03 No.
21:46 Caleb Hammer? Okay, well, maybe I can't find it.
21:48 Speaker 03 I'm like, I think that's a.
21:49 Caleb Hammer? Is it listed for sale right now?
21:51 Speaker 03 Yes.
21:51 Caleb Hammer? Then I should be able to find it.
21:54 Speaker 03 Yes, it's in there.
21:56 Caleb Hammer? So this one?
21:59 Speaker 03 F.
22:00 Caleb Hammer? Okay, different story. This one's much cuter, I'll be honest. Oh, it's listed for 309. God, you can't even afford your fucking current living. You're an 80,000 dollars a bed, you're gonna double your home? Oh, what are we doing? Oh, you're full Americanizing, you're full Americanizing. You upgraded a home before you can even afford your own lifestyle? And going out to eat itself was nearly $700. It's like, under dropping was $1,300.
22:30 Caleb Hammer? You can't, you guys couldn't afford to move your still, okay? From the previous and we're looking at doubling our house? No, no, okay, well, this is agreed purchase price.
22:42 Speaker 03 309 even.
22:45 Caleb Hammer? Okay, so it looks like Zillo's not wrong in this area. Okay, which means they're likely not wrong on yours.
22:51 Speaker 03 And the only reason why we put in the offer at 390 is because of this contingent offer. Otherwise, we would have come in probably at 290, 300.
22:57 Caleb Hammer? Bunker.
22:58 Speaker 03 Mm-hmm.
22:59 Caleb Hammer? Let's talk about student loans. I know it's something we all want to avoid talking about, but if your private student loans are crushing you, why refi might be exactly what you need. They don't rely on your credit score alone. They look for borrowers who have the desire and ability to repay. That's a game changer in a market where most lenders only see a number. Interest rates under 6% guaranteed. That's practically a unicorn in student lending. Plus, they offer. Structured payment plans to lower your monthly bill and even a cosign a release program. So your mom or dad can step off the hook. Y refi is known for personal service, no faceless call centers. You get a dedicated rep that she cares about your progress. They've got a 4.6 star rating on Google, which tells you people genuinely like working with them.
23:44 Caleb Hammer? So if your private loans are burying you, it's time to reach out. Y refi wants to help you climb out of debt, not push you further in it. Check them out at Y refi.com slash hammer. That is Y R E F Y dot com slash hammer or call triple eight Y refi dash 78. That is triple eight Y refi dash 78. Break free from the high interest trap and get your finances under control once and for all. All right.
24:14 Caleb Hammer? Rural, interesting life.
24:17 Caleb Hammer? Okay.
24:18 Speaker 03 And we've considered using the USDA loan, but the lender wants to do an FHA contingent offer to another FHA.
24:29 Speaker 03 So we're on an FHA loan right now.
24:31 Caleb Hammer? Yeah.
24:31 Speaker 03 And they want us to put in a contingent offer using another FHA loan. And then using the equity from the sale of our house as a down payment for that house.
24:41 Speaker 03 And then I talked with another lender just to kind of compare things. And they talked about a conforming loan. And when I reached out to my real estate agent to learn a little bit more about it. She said it was an FHA loan, but the credit union I was talking to with that one. So that it wasn't FHA and that it was like a Fannie Mae loan. So I got really confused about all of that and just.
25:08 Caleb Hammer? Well, yeah, I mean, this is, it's one of the government holders. Uh, that, that, that's not a big.
25:18 Caleb Hammer? My thing is, are you gonna have to... Why not get qualified for a second FHA while you hold the first FHA is the issue?
25:26 Speaker 03 So we are pre-qualified right now?
25:29 Caleb Hammer? Again, this is you getting ahead of everything.
25:31 Speaker 03 Pre-approved or something like that.
25:34 Caleb Hammer? That means almost nothing. The underwriting process is what exposes everything. You can get pre-approved for mortgages like this. It is so easy. Lindsay could literally do it before the end of this next sentence. Like, it is so easy to get pre-approved for a mortgage. It's nothing.
25:51 Speaker 03 The guys submitted all of our pay stubs, everything. Credit reports or credit scores and all that. They ran a full credit report.
26:00 Caleb Hammer? Yeah, well, yes, again, that's the basic stuff. Everything you're talking about is like the pre before the real thing happens. Okay, I don't know. You might be able to get into it as long as they at least know you're getting your last one, but...
26:18 Caleb Hammer? But usually, but typically, lenders verify that the first FHA loan has been paid off completely before allowing you to get another one. I don't know, man. I think you're a little ahead of yourself here. And why do you think you're able to double your living costs?
26:34 Speaker 03 Our goal was to use some of the equity from the house to pay off some of the debt.
26:38 Caleb Hammer? So some of the equity that we might not have. Your contingency offer, does the contingency rely on you
26:46 Caleb Hammer? making money on the last house or just selling the last house? Because you might not actually make equity, especially after you lose 6% on seller buyer commission. And then you also get any capital gains, by the way, if you do make profits. You haven't lived there for two years. Yeah, capital gains, get ready. It's gonna get you. Did you know that? Or are you expecting capital gains?
27:05 Speaker 03 No.
27:06 Caleb Hammer? Oh, that's a big chunk. You haven't been there for two years, right?
27:10 Speaker 03 No, I've only been there a year.
27:12 Caleb Hammer? So there's that. And then you're gonna have closing fees and a bunch of different... So, so honestly, you're probably gonna have to sell...
27:23 Caleb Hammer? You put five down on it? Okay. It was what, $250? What was it?
27:30 Speaker 03 For my house now?
27:31 Caleb Hammer? What was it?
27:31 Speaker 03 $144.
27:32 Caleb Hammer? $144? $144? Probably gonna have to sell it at... One seventy-five to break even.
27:40 Speaker 03 I feel like that's doable. The only thing is to-
27:42 Caleb Hammer? Yeah, but that's break even. There's no equity that you're throwing into something else. So how are you putting money down on this next one?
27:48 Speaker 03 So it's gonna be from the equity of the sale of this house?
27:50 Caleb Hammer? So you're relying on that?
27:52 Speaker 03 Cause this is what the lender and I have talked about. So this is-
27:56 Caleb Hammer? That you've talked about before you've even entered underwriting. This means nothing. This means nothing. You are so pre, pre, pre on everything?
28:02 Speaker 03 Mm-hmm.
28:03 Caleb Hammer? Pre, pre, pre, pre, pre, pre, pre. No. Actually, before you even go do this, go through our real estate course. That's the most recent one we've done. You get it for free. You need to learn a lot about this right now. I'm a little scared that you're getting way too ahead of yourself. And even if you get into this other one, or you get the FHA loan, which allows you a little less down, that is still a higher minimum monthly payment. Like, how the-
28:21 Speaker 03 That's what I was worried about.
28:23 Caleb Hammer? Worried about? No fucking- it's double the house.
28:26 Speaker 03 Yeah.
28:26 Caleb Hammer? How do you think you can possibly afford that if you have eighty thousand dollars of bad debt and you can't even afford to live? You spent more than you made last month. Did you know that?
28:33 Speaker 03 I didn't.
28:34 Caleb Hammer? Well, you did. Congratulations, cause that's debt, lady. That's the household. By the way, the household of three year olds, remember that one?
28:42 Speaker 03 Yeah.
28:43 Caleb Hammer? Okay, so, how do you think you can live that life?
28:47 Speaker 03 My dad has also offered to help with rent, cause now he doesn't. He helps with like childcare, like he'll help out, watch my son if I have a really important meeting I have to do, or he'll pitch in on some groceries or something like that, but I don't, I don't ask him for anything, cause he's on a very set disability amount. And-
29:05 Caleb Hammer? Okay, well, that's, that's, okay.
29:08 Speaker 03 And so he just kinda pitches in where he can. Um, but he agreed that if we do move to another house, he would like to pitch in.
29:15 Caleb Hammer? I see you've set at seven thousand five hundred to replace the HVAC in furnace. That is better than double the house.
29:20 Speaker 03 Yeah.
29:21 Caleb Hammer? That is better than double the house. I'd rather you have a seven thousand five hundred dollar potentially interest-free loan than a house where you're only putting a couple of percent down could go under value in a minimum monthly payment that we can't afford, which puts us underwater in a situation you might not be able to sell, cause who knows what's going on with interest rates. We're in a weird hold period.
29:39 Speaker 03 Because right now-
29:39 Caleb Hammer? I don't know, man.
29:40 Speaker 03 We've had all kinds of crazy quotes all over the place with interest rates.
29:44 Caleb Hammer? This makes no sense. I have notes that you track what bills are due each week. You have a debt tracker on your phone.
29:52 Speaker 03 I do.
29:52 Caleb Hammer? All's in your notes app. And you up it did it once a month. You're in charge of all the finances in the household and you're very frugal. Then you have all this bullf- spending, all these like, you know, they're spending more than you make. You didn't even know that. We have horrible debt and you're thinking about getting a house you can't afford. This doesn't make- Sense. Those things are so conflicting. Make that make sense for me, please.
30:10 Speaker 03 I can't even make sense of it.
30:12 Caleb Hammer? How aware is the husband to the finances of the house? He's involved in seeing the conversation because it sounds like you.
30:18 Speaker 03 I try to sit down with him at least once a month and be like, hey, these are our bills. Let's go over everything. Let's figure this out.
30:24 Caleb Hammer? What does try mean?
30:26 Speaker 03 He pretty much just leaves everything up to me.
30:30 Caleb Hammer? Is he informed at least?
30:32 Speaker 03 Oh, yeah. I update him all the time. Like, hey, the water bill's a hundred and fourteen dollars. I just paid that with your check. Or whatever the case may be. Like, I tell him about every time I'm paying a bill.
30:45 Caleb Hammer? All right. Where do you think your household financial score is? Zero to 10, zero being the worst, 10 being the best. Where do you think you stand?
30:50 Speaker 03 Probably a one.
30:52 Caleb Hammer? Watch your hammer financial score, see where you are in the world of finances. I'd be happy to assess you. Take the assessment at Calebhammer.com. Go to Calebhammer.com/apply to come be here on the show. And don't forget, if you download my budgeting app in order to not be a guest on this show, it'll help you a lot. And those who sign up for the annual version, you get my budget-friendly cookbook signed by me and sent directly to your doorstep. What is home inspiration? What is this card?
31:17 Speaker 03 Ashley Furniture.
31:21 Caleb Hammer? So not only could we barely afford to get the house, we only put a few percent down, and now we can barely even afford getting a new house. We went on, we got all, listen.
31:30 Speaker 04 Low energy, unfocused, foggy, you might be dehydrated. Gatorade Zero Powders have been scientifically designed to help improve hydration balance in the body. With a clinically proven electrolyte blend and no artificial colors or flavors. Great tasting hydration, no matter where you're going. Shop now online or at retailers nationwide. Gatorade hydrates better than water. Is it in you? Symptoms noted are signs of mild to moderate dehydration. Consult a healthcare professional if symptoms persist.
31:59 Caleb Hammer? Be very clear. You want to know how you look at life?
32:05 Caleb Hammer? You want to know how you look at life? So I I'm gonna let you in on a little secret and a perspective you probably haven't thought about.
32:12 Caleb Hammer? You put more value into feeling comfortable and seeing things that you like. Because this that you find is for Ashley own furniture, guess what? It's the cost of the new HVAC and heater. But you chose furniture.
32:25 Speaker 03 Beds.
32:27 Caleb Hammer? Beds.
32:27 Speaker 03 Kitchen table. Yeah.
32:29 Caleb Hammer? You did not need.
32:32 Caleb Hammer? I slept on an air mattress for nine months when I moved down here.
32:35 Speaker 03 Me and my son, I had been slept on a queen size air mattress for months.
32:38 Caleb Hammer? There you go. This heating in Texas or well, AC in the heat of Texas. We don't fuck with that, especially when someone could die from it, your dad.
32:47 Speaker 03 Well, when we first moved in, it was kind of cooler outside. So the HVAC system was running at like, like it would put out like 72, 70. And then once it started getting hotter, we realized it was not working. Basically with circulating air, it wasn't actually cooling.
33:03 Caleb Hammer? When does the interest rate period end in this?
33:06 Speaker 03 I'm not sure.
33:07 Caleb Hammer? Okay, you're the one that's tracking the finances. Also, you're the one that tracks all the bills. How do you not know?
33:11 Speaker 03 I don't think there there is a period where it ends.
33:16 Caleb Hammer? This is a fun one. I get to get you free money and then I get to get myself free money. It's a pure win win for both of us. What do you have to do? Sign up for a SoFi high yield savings account and get a welcome bonus of $300. Sign up for Acorns using my link and get $20 instead of the usual $5. Finally, sign up for Silo and earn up to $5,000 in cash back on your own stocks. These offers have been negotiated to give us both more money than using traditional signup methods. So use the links in the resources section of the description below and get yourself $5,320 right now.
33:55 Speaker 03 I've read over every statement, every contract that I had from getting the furniture.
34:02 Speaker 03 And there's no like, oh, at this point, the interest rate is going to jump up to this. Like other ones say that. Where like you get this 0% interest rate for six months if paid in full or whatever the case may be.
34:15 Caleb Hammer? Called to ask.
34:16 Speaker 03 I have and I've called Ashley and they're like, you need to call home inspiration.
34:20 Caleb Hammer? It's not through Ashley.
34:22 Speaker 03 So then I've called home inspiration and can't get a direct answer from anybody. They keep transferring me. And so that had me a little suspicious and then there's also three different login websites to pay my bill. That are all different links. So it had me very suspicious and cautious. And so that was another reason why I was considering taking out the debt consolidation loan. So I can get rid of that and any.
34:47 Caleb Hammer? Well, it's not the consolidation loan dude. Listen, it takes six years to pay off minimum payments only. And we know that these period, most of it was. Sixty months, which is five years. So defer. Do you know if interest is deferring? I mean, usually on these type of cards, they do. Listen, you're right. This statement is quite bare. It doesn't show a lot. But the fact is six years to pay it off. But it's five years, five equal payments from when it even started. And this was like a half a year ago, right? So you will not pay this off in time before the interest just hits.
35:24 Speaker 03 Like I definitely like.
35:25 Caleb Hammer? How many times have you called them? Be real.
35:28 Speaker 03 Probably like six.
35:33 Speaker 03 Cause we went in there, bought our beds and then bought a couch. That was on sale and then I called in after that. And was like, hey, like, how long of a period do I have on this? Or like, you need to call home inspiration. So I called home inspiration. They're like, oh, we have to transfer you over to this department. Get transferred to that department. You have to get transferred over to this department.
35:52 Caleb Hammer? Oh, I got you. Maybe we'll try it in a little bit. Care of credit. What's going on?
35:58 Speaker 03 I despise care credit. Um, dog bills, dental bills, medical bills. When we first moved here, my son got bit by something and we had to go to the urgent care and then to the emergency room. And that was.
36:12 Caleb Hammer? Do you have dog insurance?
36:13 Speaker 03 I do.
36:14 Caleb Hammer? What's your insurance for the kid?
36:17 Speaker 03 Uh, it's through my work. It's Aetna.
36:20 Caleb Hammer? That is not bad.
36:21 Speaker 03 Uh-uh, but we, to go to urgent care, it was like a hundred and eighty dollars for like a fifteen minute visit to be seen the first time.
36:28 Caleb Hammer? Sure.
36:29 Speaker 03 And then the next day they said, oh, you can have like a free follow up with it within a certain time. I go in there. They're like, no, you're getting charged because this is a sick appointment. Another hundred and eighty dollars.
36:37 Caleb Hammer? This is at three thousand dollars practically.
36:39 Speaker 03 And then they're like, you need to go to the emergency room. So then the emergency room bill was two thousand.
36:46 Caleb Hammer? That's interesting.
36:47 Speaker 03 And then I paid some of that on my health savings account card from work.
36:51 Caleb Hammer? Was it in that work that emergency room? Cause that.
36:53 Speaker 03 Yes.
36:55 Caleb Hammer? Okay.
36:55 Speaker 03 Mm hmm.
36:56 Caleb Hammer? Well, I mean, we just had different insurance via Anna, I guess. That was not, I mean, my copay.
37:01 Speaker 03 I didn't realize I have a high deductible one. My deductible for it's like $4,000.
37:06 Caleb Hammer? You didn't know?
37:07 Speaker 03 I didn't. So.
37:09 Caleb Hammer? You don't sign up for the plan you want to?
37:11 Speaker 03 So when I was filling everything out, I was talking with my colleague about it and was like, I've never had, like, in California, we were under the poverty level, so we were on Medi-Cal, state insurance. I've never had.
37:21 Caleb Hammer? You were under the poverty level, making 75,000 dollars a year?
37:24 Speaker 03 That was before. I, that was before my raise. And my husband was, his job there was just inconsistent. Sometimes he'd get five hours a week, sometimes he'd get 40.
37:33 Caleb Hammer? What have you guys been doing in life? Like, where?
37:35 Speaker 03 Floundering. That's the easiest way I could say.
37:39 Caleb Hammer? And you don't seem like a person that hasn't had opportunity, like, um, did you go to college? Are there student loans in here?
37:46 Speaker 03 I, my student loans are covered by Fast Food.
37:49 Caleb Hammer? So you went to college?
37:50 Speaker 03 I went to trade school. I have a associate's degree in veterinary technology.
37:54 Caleb Hammer? Poverty line. Well, what about the dude?
37:56 Speaker 03 He didn't graduate high school.
37:59 Caleb Hammer? Okay.
37:59 Speaker 03 Um, so he.
38:00 Caleb Hammer? Giving him a G D?
38:02 Speaker 03 He, we ended up, he.
38:03 Caleb Hammer? He's gonna run a business, but he can't run his life?
38:06 Speaker 03 He has a high school diploma now.
38:08 Caleb Hammer? Okay.
38:08 Speaker 03 But.
38:09 Caleb Hammer? It's not about the diploma for running this business. I don't care about that. So the fact that just like, look where we are, and now he's gonna have to manage a business financial, which is much more complicated.
38:17 Speaker 03 Well, so they're like, the financial part's gonna be on you. And I was like, I really don't wanna do this.
38:22 Caleb Hammer? Not only that, but you probably don't have time.
38:24 Speaker 03 No.
38:24 Caleb Hammer? Cause that's kinda like a full-time job.
38:26 Speaker 03 And of, I, salary, so sometimes I work eight o'clock in the morning to eight o'clock at night, sometimes.
38:31 Caleb Hammer? Do we have pet insurance? Cause these are pet bills.
38:34 Speaker 03 I just stopped it because they tried to raise the premium for two dogs to $270 a month. And then they're like, well, we can raise your deductible and I'll make your monthly payments lower.
38:46 Caleb Hammer? Go and get a different pet insurance, right?
38:47 Speaker 03 So they have chronic allergies, um, so it's considered pre, um, like a very habit, predisposed or whatever. So other insurances won't cover that.
39:00 Speaker 03 But with my history being in veterinary medicine, I've got their allergies pretty under control now and can manage it pretty easy. And when they do have a flare up, it's about $200 or $300 to get that taken care of.
39:13 Caleb Hammer? So this is at $2,679.2 with the $92 minimum payment. You made the minimum last time. $64.76 of interest. How long does this take to pay off? Minimum payment solely, without anything else being put on it?
39:26 Speaker 03 Takes forever.
39:27 Caleb Hammer? How long?
39:29 Speaker 03 Like years, like three years.
39:32 Caleb Hammer? Okay, add a one in front of that three.
39:35 Speaker 03 Oh, that's disgusting.
39:37 Caleb Hammer? Yeah.
39:37 Speaker 03 But I
39:38 Caleb Hammer? I'm so
39:39 Speaker 03 I don't know what to do without the care credit. Like, I want to have that as like a safe fallback.
39:43 Caleb Hammer? We get an emergency fund by not spending $500 a month going out to eat or whatever it was, plus more on. We don't get an emergency fund by getting a house that is double the cost. We don't get an emergency fund by holding on to equipment in storage lots back in California. We don't get an emergency fund by continuing to go into more debt and spending more than we make on a monthly basis. But you need an emergency fund. That gets rid of care credit. Because then you just use an emergency fund for emergencies. But we don't do anything necessary to get the emergency fund.
40:19 Speaker 03 Not currently. I've had an emergency fund and then drained it for emergencies.
40:25 Caleb Hammer? I don't give a what you've had in the past. I really don't. I care about what's today. I was a delinquent back in the day.
40:30 Speaker 03 So what do you do when you have an emergency and your emergency fund's already empty? Care credit?
40:34 Caleb Hammer? Yes, but I'm talking about how to get to an emergency. You're not living the life that is necessary to get an emergency fund. You'd rather get a house that is double. You're almost about to sign a contract to get a house that is double with contingency, which let's see if they even agree to that. What's an emergency fund to you?
40:51 Speaker 03 I would like to have like three to six months of like regular bills.
40:57 Caleb Hammer? Okay, so David Ramsey did say something similar. I would do six months preferably, but why haven't we prioritized that? Because that's what saves us.
41:08 Speaker 03 So I had one.
41:09 Caleb Hammer? How important that three-year-old is to you? Yeah, they need an emergency fund.
41:13 Speaker 03 Yeah. I had one and then emergencies happened and I emptied it.
41:17 Caleb Hammer? I know, but you haven't done what is necessary to build it back up. When you do not have an emergency fund, that within itself is an emergency and we cut everything to build it back up.
41:26 Speaker 03 I have money getting pulled out from my check right now. I have $200 getting pulled out and putting into
41:34 Caleb Hammer? $200 is gonna take forever. That's a you. There's so many emergencies is gonna happen before that.
41:38 Speaker 03 I need to pay.
41:38 Caleb Hammer? $200 savings. Good job. Thrilled. $650 going to going out to eat.
41:44 Speaker 03 When I'm working eight in the morning to eight at night.
41:46 Caleb Hammer? A third is okay?
41:47 Speaker 03 We have to.
41:47 Caleb Hammer? What's? Eat. How much? How much time is daddy working?
41:51 Speaker 03 He.
41:51 Caleb Hammer? Papa. Not yours. The one you're married to.
41:54 Speaker 03 My husband?
41:55 Caleb Hammer? Yeah.
41:55 Speaker 03 Yeah.
41:56 Caleb Hammer? The dad of the child.
41:56 Speaker 03 Yeah. So he works. He was working overtime 10 hours a day, hour drive there, hour drive home.
42:01 Caleb Hammer? Tell me what he's doing now.
42:02 Speaker 03 He's working eight hours a day, hour drive to work, hour drive back.
42:05 Caleb Hammer? Cool. He can cook.
42:07 Speaker 03 He's learning.
42:08 Caleb Hammer? Oh, is he gonna be a bit tired? Is he gonna be a little guy go be a bit tired?
42:13 Speaker 03 He's learned how to fry a egg.
42:14 Caleb Hammer? Spaghetti, dude. That's dude. When I was growing up and we didn't have money in foreclosure notices we're hitting. We had spaghetti and meatballs every other meal. You don't know. You don't have to know how to cook to put pasta in boiling water for 10 minutes.
42:25 Speaker 03 We do do spaghetti. We have, um.
42:27 Caleb Hammer? Well, there you go. Mission success. You figured it out. Sandwiches don't need skills. They are two pieces of bread.
42:33 Speaker 03 We do PBNJ dinners quite often.
42:35 Caleb Hammer? It doesn't even, it can be a little better than that. You, you, you have, for what it's worth, the money to have a reasonable groceries for reasonable meals. I'm not against that. But it's like, the only, your entire thing is like, I need to have credit. Wouldn't know how to live without credit. Okay, I do. It's an emergency fund. But I'd rather put literally three times, more than three times the amount we're putting towards savings on a monthly basis towards just going out to eat. Because we work long hours. You know why you'll work long hours? Because when you don't have an emergency fund, you have to use credit, meaning your monthly payments on life is higher, meaning you need to work longer hours.
43:12 Speaker 03 I get paid the same no matter what. I'm salary. I'm not paid hourly.
43:16 Caleb Hammer? You're at home though, right?
43:17 Speaker 03 Yeah.
43:18 Caleb Hammer? You can still, you can put the pasta in, dude.
43:21 Speaker 03 I've done that and burnt the stove.
43:24 Caleb Hammer? Well, sit there. Sit at the fucking kitchen counter on your calls.
43:27 Speaker 03 So I have three monitors.
43:29 Caleb Hammer? Okay, use one during the pasta cooking.
43:31 Speaker 03 Well.
43:32 Caleb Hammer? We've all worked those jobs before. I've worked sales.
43:35 Speaker 03 Trying to talk between the different windows and do presentations where I'm sharing my screen from a laptop on cooking dinner.
43:40 Caleb Hammer? Text having us. Come on. This is brutal. Come on. That's gonna be a dumb excuse. That's gonna be a dumb excuse.
43:45 Speaker 03 It's a realistic excuse though. When you're trying to have a meeting and you're presenting screens.
43:50 Caleb Hammer? Yes, I thought we've all done this.
43:51 Speaker 03 And trying to cook. My work would not like that.
43:55 Caleb Hammer? Okay.
43:57 Caleb Hammer? I guarantee you have 10 minutes in the day. Guaranteed you have 10 minutes when you're like chilling with a three year old. You said you're equally stay at home mom.
44:05 Speaker 03 Try to be.
44:05 Caleb Hammer? Well, there you go. You can do pasta during that time.
44:10 Caleb Hammer? We can do BLTs during that time.
44:13 Speaker 03 And when I do cook dinner, that's what happens.
44:16 Caleb Hammer? Crock pot.
44:17 Speaker 03 I do a lot of crock pot.
44:18 Caleb Hammer? Okay, well, you do a lot of going out to eat.
44:20 Speaker 03 I do.
44:21 Caleb Hammer? Six hundred fifty dollars. So more crock pot. When your entire thing is I work long hours, so I don't cook, so we do six hundred fifty dollars going out to eat. No. Give you get an emergency fund. You don't have an emergency fund. HVAC died. Uh oh, need an emergency fund. Don't have it. What do we do? Kid got bit. Don't have an emergency fund. What do we do?
44:41 Speaker 03 I pay some of that on the health savings account.
44:44 Caleb Hammer? Well, that part's good, but obviously it's not enough because you're using care credit. You need an emergency fund. It's not about this health savings account. I'm glad you're doing that tax advantage. Yeah, that's great. But obviously it's not going far enough. And obviously you no longer have the room in your butt to throw more into the health savings account. Okay, let's swap with this Capital One Kohl's card. We really need a Kohl's card.
45:04 Speaker 03 So the Kohl's card was, I believe, one of the first credit cards I got as an 18 year old trying to establish credit. Um, everyone's like, hey, you need to build your credit, get a credit card.
45:14 Caleb Hammer? Sure, but this was nine years ago and I see a balance of two thousand four hundred sixty one dollars and seventeen cents.
45:19 Speaker 03 That's one of those ones where I've had it paid off multiple times and then Kohl's.
45:23 Caleb Hammer? What is gonna change this time? You're considering a consolidation? What is actually gonna be different? Please pitch it to me. Pitch your consolidation.
45:28 Speaker 03 Close the cards. I'm worried about my credit history.
45:31 Caleb Hammer? You will open them up again, though. You will open up another credit. A credit card will show up in the mail. You'll open it up. Look at your history.
45:36 Speaker 03 I don't do the credit cards that come in the mail.
45:39 Caleb Hammer? Fine, you'll open a store card. Listen, the thing is, based on your history, I just have no confidence you would open a card. I want you, I do want you to close the cards. I'm not against that. It's more about the spending, the behavior. It's not just the act of closing the cards. Because then you'll just blow everything in your checking account.
45:53 Speaker 03 So my habit with the cards is I've had a card close on me for not using it. So then I was like, oh, I have to use the card to keep my credit established, so it doesn't close and take my credit history and take my credit.
46:03 Caleb Hammer? What even is your credit? What? Because I mean, you're applying for a mortgage you haven't gone through.
46:08 Speaker 03 It's not great. It's six fifty nine.
46:11 Caleb Hammer? Yeah, so not even favorable rates and an unfavorable rate market is coming your way. Do not get this house.
46:18 Caleb Hammer? I understand what you're thinking, but.
46:21 Caleb Hammer? I move laterally maybe, but okay, go on. Please pitch me on this.
46:27 Speaker 03 So then the Kohl's credit card, they did a thing where you can use it anywhere.
46:30 Caleb Hammer? The Kohl's?
46:31 Speaker 03 Yeah.
46:31 Caleb Hammer? Yeah, okay. Yeah, it was a Capital One card, honestly.
46:34 Speaker 03 So that paid for gas and food.
46:37 Caleb Hammer? Is that the credit limit?
46:38 Speaker 03 Yeah.
46:38 Caleb Hammer? Right now?
46:40 Speaker 03 Yeah.
46:40 Caleb Hammer? What the?
46:42 Caleb Hammer? Why?
46:43 Speaker 03 That was one of those cars that we used to move.
46:48 Caleb Hammer? How much did it cost this move?
46:50 Speaker 03 About four thousand.
46:51 Caleb Hammer? So primarily in here then?
46:54 Speaker 03 In gas and food. That doesn't include the things breaking.
46:57 Caleb Hammer? The total cost of moving.
47:00 Speaker 03 I probably put us closer to six thousand so far.
47:04 Caleb Hammer? But that means you said you drained your emergency fund for that. If you drained your emergency fund for six thousand five hundred, you didn't have a fully funded emergency fund.
47:10 Speaker 03 Not at that point.
47:11 Caleb Hammer? So then we're not moving.
47:13 Speaker 03 We needed to get out of California.
47:15 Caleb Hammer? You did not, but you could have put him up in a month to month place.
47:18 Speaker 03 We couldn't even afford our rent.
47:20 Caleb Hammer? How much is your rent?
47:21 Speaker 03 Fifteen hundred.
47:23 Caleb Hammer? Yes, you could have.
47:24 Speaker 03 My husband, his job, again, sometimes he's working five hours, sometimes he was working forty, sixty, like it was all over the place.
47:30 Caleb Hammer? That's not a flee the state situation. That's a job searching situation.
47:33 Speaker 03 We also couldn't stay in the house that we were at.
47:34 Caleb Hammer? You made the same money you made now. Why?
47:37 Speaker 03 My mom was moving back into the home and...
47:40 Caleb Hammer? She wouldn't let you live there for a few months. To bill up and I'm not saying stay there. I'm saying get a fully funded emergency fund first.
47:46 Speaker 03 Well, we stayed there a year over what we were supposed to.
47:49 Caleb Hammer? Cool, but we have an open and honest conversation. Hey, we need six more months just to get to that savings for the... Does she love you?
47:56 Speaker 03 No.
47:59 Caleb Hammer? Solopreneurs, listen up. You're wearing all the hats. Sales, customer service, marketing, maybe even shipping, and that is brutal. You want to automate all of your business headaches into one software? That's where High Level can help. High Level allows you to capture leads, build funnels, message potential customers, and close on your leads all from one dashboard. No more logging into multiple tools or missing leads because you forgot a step. You can literally be out grocery shopping while High Level nurtures your prospects. Let's talk money. If you're paying fifty dollars for email, forty dollars for texting, twenty dollars for booking, you already had a hundred ten dollars, and that's not counting funnel software. High level can replace it all, possibly saving you some serious cash.
48:42 Caleb Hammer? I twisted their arm for an exclusive thirty day free trial, twice the standard. If you crave more time, less overhead, and better follow up, check out the link below, because letting leads slip through the cracks is basically giving away free cash, and we do not do that around here.
48:57 Speaker 03 We actually went no contact.
49:00 Caleb Hammer? What the? Oh, because you're supporting Dan?
49:03 Speaker 03 No, well, part of it.
49:05 Caleb Hammer? Why is she?
49:06 Speaker 03 So, we're talking now.
49:10 Speaker 03 It's not a very healthy relationship. It's never really been healthy.
49:13 Caleb Hammer? Why did you let you stay there then?
49:15 Speaker 03 To control me. To control me.
49:18 Caleb Hammer? Well, what was she able to do to control you?
49:21 Speaker 03 She used the house to control me. I'm coming to my house to see my grandson. We're sick right now.
49:27 Caleb Hammer? Were you keeping her away from your grandkids?
49:29 Speaker 03 We were sick. We had COVID. I didn't want anybody coming over. I didn't want anybody exposed.
49:33 Caleb Hammer? Well, that's, I guess, her choice if she wants to get sick.
49:36 Speaker 03 And then, her choice and boyfriend is, we don't like him.
49:42 Caleb Hammer? Why?
49:43 Speaker 03 Uh, he showed up to a family dinner that he was not invited to or supposed to be there. He's cheated on her.
49:48 Caleb Hammer? Well, he just showed up to a dinner? I don't think that's a cancelable offense.
49:51 Speaker 03 With a gun.
49:53 Caleb Hammer? Legal?
49:54 Speaker 03 No.
49:55 Caleb Hammer? That's a bit weird.
49:56 Speaker 03 Yeah.
49:57 Caleb Hammer? Okay, go on.
49:59 Speaker 03 And then, he's also cheated on her multiple times.
50:02 Caleb Hammer? That's not good.
50:03 Speaker 03 And the lady that he's cheated on her with messaged me telling me I'm a slut.
50:06 Caleb Hammer? Why are you cutting off the grandma, though? Your mom's.
50:08 Speaker 03 She allows it. She keeps going back.
50:10 Caleb Hammer? Oh, yeah, but what if she's being manipulated in the same way that you're saying you're being manipulated by her?
50:15 Speaker 03 Well, she probably is, and we were just enabling each other. And I finally had to put my foot down. I was like, I can't do this.
50:20 Caleb Hammer? Cutting contact isn't.
50:22 Speaker 03 Well, and she also had really bad alcoholism.
50:25 Caleb Hammer? Jeez, okay.
50:26 Speaker 03 Yeah. And it got to a point where she was screaming at me in front of my son, and I was like, we can't do this.
50:32 Caleb Hammer? I agree. I agree. I agree. Well, it sounds like the move was okay, but still you did not have a fully funded emergency fund. You really suggested like you did and it was drained before you moved.
50:42 Speaker 03 We are just trying to basically flee.
50:43 Caleb Hammer? But you didn't have a fully funded emergency fund.
50:45 Speaker 03 Not fully funded.
50:46 Caleb Hammer? No.
50:47 Speaker 03 It was started.
50:49 Caleb Hammer? Yeah. Okay. So again, on this card, $2,461.17, minimum payment $89, $63 cents or $63.96 of interest accruing, maxed out, 13 years to pay off minimum payments only, which is all you're doing. Actually, you made a little under your minimum last time.
51:08 Speaker 03 I think my minimum just went up on that one.
51:11 Caleb Hammer? It said a 30.24% interest, right?
51:13 Speaker 03 And then I was trying to do the David Ramsey method, the snowball, pay off the lowest one first. So I was throwing any extra, like instead of making a monthly payment on a balance that's $240, I, or not minimum payment with that, if it's $30, I'm paying 60 or 100, trying to get those lower cards paid off first.
51:32 Caleb Hammer? Do you like his co-host, like Georgie Camel as well? Georgitson Camel?
51:38 Speaker 03 I've only really paid attention to David Ramsey.
51:42 Speaker 03 Um.
51:43 Caleb Hammer? Okay.
51:44 Speaker 03 I had a friend turn me on to him and was like, hey, like you need to start watching him because I was venting to him one day. Uh, he was in a lot of debt, paid everything off, was debt free, emergency fund, like he's doing everything he's supposed to. So I turned to him and was like, what?
52:00 Speaker 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.
52:29 Speaker 03 What do you do? And so he was like, hey, watch David Ramsey.
52:32 Caleb Hammer? Do you also watch Grammat and Stefan?
52:34 Speaker 03 I don't.
52:35 Caleb Hammer? Okay. Just wanted to check.
52:38 Speaker 03 I don't even know who that is.
52:40 Caleb Hammer? It's okay.
52:41 Speaker 03 Okay. And then I found you on TikTok instead of watching all your videos and I was like, I need to conquer this debt. My goal is to be debt free. I want to be able to.
52:53 Caleb Hammer? Good goal. I should do something to do it. I, I, I still have your spending for last month. This is what everyone does. You're saying a reasonable thing, but then your actions are completely. The opposite Lowe's card. I understand the escape in California. I'm not against that.
53:07 Speaker 03 And that Lowe's card is my husband's.
53:09 Caleb Hammer? One hundred forty-five dollars, fifty-seven cents with a minimum monthly payment of seventy-two dollars. Well, your husband did not purchase, but interest was accruing forty-nine dollars, takes eleven years to pay off. It's maxed out, no one's surprised. So what's going on with this one?
53:25 Speaker 03 So that one we got prior to moving, um, the house that we're living in California was actually falling apart around us. Like literally.
53:32 Caleb Hammer? It seems to be a not, uh, ongoing pattern.
53:36 Speaker 03 Yeah. Um, like roof was falling apart, um, the porch pole is falling apart. Um, walls falling apart, like just everything was falling apart. Um, the kitchen had massive amounts of mold in it and it actually caught on fire before my mom and my dad bought it. So end up having to fix stuff in the kitchen. And then after having my son, we had the original carpets in it from when we moved in in two thousand and four. And we've had multiple pets, so we put in the LVP flooring or like that plank vinyl flooring. We found some on sale at Lowe's.
54:13 Caleb Hammer? But eleven years to pay off those renovations. I don't, it's, it's, it wasn't even your house.
54:21 Speaker 03 Like to renovate.
54:25 Caleb Hammer? That's what we prefer.
54:29 Caleb Hammer? That's what we prefer, huh?
54:34 Speaker 03 Change is good, right?
54:36 Caleb Hammer? Yeah, what about the change in not having debt? That's a pretty good one. That's a pretty good one. Dave would, would suggest so. He would also suggest that you should get the FIS card instead of any of these cards.
54:51 Caleb Hammer? I would do that for you. Only allows you to spend on a checking account, which is good. Okay. Yeah, I mean, this is sitting in the thirty-one point nine nine percent interest rate, or some of them. So, so a part of it and then twenty-six point nine nine for the rest.
55:04 Speaker 03 Yeah.
55:07 Speaker 03 The interest rates.
55:07 Caleb Hammer? Home Depot.
55:09 Speaker 03 That's our house now.
55:09 Caleb Hammer? For more renovations we want to do because change is important. Change is good, right?
55:14 Speaker 03 Change is good. Fixing the house is good.
55:17 Caleb Hammer? Fixing the house for necessary things that are danger in life, I can kind of vibe with. But again, those are emergencies, emergency funds to take care of it. You don't do what is necessary in life in order to achieve an emergency fund. So you're allowing yourself to say that this debt is okay because you had to do it. Where in reality, it's not because if you were just a mature person in the end, you would have had an emergency fund.
55:39 Caleb Hammer? What'd you say, Ian Kachikin?
55:41 Speaker 03 Detentary technology.
55:43 Caleb Hammer? Okay, three thousand two. This one's over the credit limit. This one's over the credit limit.
55:50 Speaker 03 That's my husband's.
55:52 Caleb Hammer? Three thou-
55:53 Speaker 03 I also have a Home Depot card. We have, we each have one.
55:57 Caleb Hammer? What the, why? What's our obsession with the depot?
56:01 Speaker 03 We only have a Home Depot in our town.
56:04 Caleb Hammer? You have a Lowe's card too.
56:05 Speaker 03 Lowe's is an hour away.
56:07 Caleb Hammer? Yeah, but you have a Lowe's card too. What's our obsession with the depot? I like Home Depot. I don't have a Home Depot card. What are we doing? You're over the credit card limit by $218.62, $3,218.62 with a minimum monthly payment of 103. These minimum monthly payments are stacking up and then you want to double your mortgage? Good luck.
56:29 Speaker 03 That's where the debt consolidation loan kind of came in.
56:32 Caleb Hammer? Yeah, but there's still going to be more minimum payments and then knowing you, just like you've done in the history of your cycle for the last nine years, you're gonna do it again. That doesn't fix it.
56:41 Speaker 03 I'm ready to break the cycle.
56:43 Caleb Hammer? You're ready to break the cycle, but a consolidation without changing your behavior first does not break the cycle.
56:46 Speaker 03 I'm ready to change my behavior.
56:47 Caleb Hammer? You're ready to change your behavior, but you have not yet and you should not consolidate until you do. So I don't know what the, we're thinking about doing here, especially since this is going to 15 years to pay off and like, the consolidation loans are high interest rate anyway. Are you going to be able to borrow enough to consolidate all of this?
57:04 Speaker 03 Probably not all of it. The ones that have lower balances, we wouldn't include.
57:08 Caleb Hammer? I feel like honestly, you're just really trying to make a reason for this new house to work.
57:15 Speaker 03 Even without the new house, I want the cards gone.
57:18 Caleb Hammer? Huh?
57:19 Speaker 03 I want the cards gone. I don't want-
57:22 Caleb Hammer? Then why are you spending the way you do? Again, the words are not lining up the actions.
57:26 Speaker 03 They're there. The cards are there.
57:27 Caleb Hammer? Yeah, but the words are not lining up with the actions. We can start paying on cards. Instead of, you haven't paid more than the minimum payment on any of these cards so far.
57:33 Speaker 03 You haven't got to those ones yet.
57:34 Caleb Hammer? I said on any of the cards so far.
57:38 Speaker 03 I know there's a big stack there. Keep looking.
57:42 Caleb Hammer? You spent $650 on going out to eat. That is not cute. That could have gone towards this card. That could have paid off a fifth of the care credit. A fifth of the care credit could have gone away if you did not go out to eat, but you did. So that is not cute. That is not cute by any means.
58:02 Speaker 03 And part of that eating out was us going to Tennessee. We did spend, I think, like $200 eating out in Tennessee.
58:11 Caleb Hammer? Fuck you. I don't care. Don't go to Tennessee. What are you talking about? You're literally-
58:14 Speaker 03 My husband's grandpa was dying.
58:17 Speaker 03 So we went to Tennessee and we ate out because we were in a hotel. We got some snacks and stuff to get us by.
58:22 Caleb Hammer? I understand going to Tennessee. I'm not horribly against this with that situation specifically. But I am very against, I mean, you did not need to do the eating out thing. When my family and I, we did like that low cost of living travel. We grocery shopped when we took road trip slices. So we had to do-
58:41 Speaker 03 I tried to find a hotel that had a kitchenette in it so I could cook.
58:45 Caleb Hammer? And fridges and sandwiches. That's what we did. That's what we did. I know other people can do it because I went through it. Okay?
58:54 Caleb Hammer? Like, I, yes, go to Tennessee. Grandpa passing away. I hate that. That is so sad. I want you guys to go there. That does not mean we use it as a reason to not continue our sacrifice all around. I'm not against the travel and I know like I sound like I'm a hard ass, but-
59:09 Speaker 03 We also ate out with family.
59:10 Caleb Hammer? Okay, but that is different. It wasn't just the eating out with family. Maybe I would allow a couple eating out with the family. And we're all together and we're celebrating someone's life. Okay? I get that part.
59:19 Speaker 03 He is doing better now, though. The grandpa.
59:22 Caleb Hammer? Great. So it was worth nothing. So the, the me trying to, okay, fuck off.
59:28 Speaker 03 He was not doing well. He's got cancer. It comes and goes. We really, like, I'm glad we went. Because I don't know when we're gonna be able to back out there.
59:37 Caleb Hammer? Yes, me too. I'm not against that. I'm against the way you did it. You're not willing to sacrifice.
59:43 Speaker 03 And that's what I'm trying to change now.
59:48 Caleb Hammer? I will never understand this and you know, I might get some pushback in the audience for me. I don't get it because that seems like a reasonable response, guys, right? But I've been on this show, I've done this quite a few times. My question is, and why the is it not in the statements that I'm looking at? If you would want to change something, I would see any indication of it. This is what happens. I swear people get on here. We've been filming for an hour and one minute, they're getting pushback on their decisions. And the most natural human response to say is, well, now I want to change. Then why wasn't there a single one cent of change before you sat in this damn chair?
1:00:22 Speaker 03 That's the cycle. I go, I I've changed, I've had therapy, I've done all that, dropped out of therapy.
1:00:29 Caleb Hammer? Dropped out of therapy?
1:00:29 Speaker 03 Yeah, or whatever, moved, lost a therapist, whatever the case may be. And then-
1:00:36 Caleb Hammer? Most you can do remote while you're now and about, but go for it.
1:00:40 Speaker 03 Well, I'm starting therapy again, hence the whole-
1:00:43 Caleb Hammer? Oh, come on, you complete your entire life collapsed because you weren't in therapy for a second? Come on, if you're that broken-
1:00:49 Speaker 03 I'm not blaming it all on my mental health and not having a therapist.
1:00:51 Caleb Hammer? What are we blaming it on? Because it sounds like a lot of blame outside of our own just accepting responsibility. And saying that, you know what?
1:00:59 Speaker 03 There is life-
1:00:59 Caleb Hammer? Maybe I'm not ready to change because I haven't done anything necessary to actually make ready for change before coming on.
1:01:04 Speaker 03 You haven't got to all of them yet.
1:01:05 Caleb Hammer? Oh, come on, buddy, I have, you spent more than you made last month, the household. We have that going through all of this.
1:01:14 Speaker 03 I don't even see how that's possible.
1:01:16 Caleb Hammer? Because debt.
1:01:20 Caleb Hammer? Because spending, $650 going out to eat alone.
1:01:23 Speaker 03 And see, having it broken down like this, I think helps with the desire to change.
1:01:29 Caleb Hammer? This is helpful, but you're not, but you didn't give any indication. You could have used the budgeting app where everything's automated, you could have done that. And you would have seen all this information. Your little tracking, you said you know where all your bills are, you would have known this, okay?
1:01:44 Speaker 03 And see, I have the bill, I have the bills alone, not the eating out or extra expenses included.
1:01:51 Caleb Hammer? You don't look back on previous months? Then you're never going to make progress, there's no point of only tracking half of it if we don't know what's going on with the other half. That's, that's an inconclusive picture.
1:02:00 Speaker 03 I think part of it too is like, my dad, he will help pay for stuff. So then I, it's like a- Let's go out to eat cuz dad's gonna pay and then he'll pay for
1:02:09 Caleb Hammer? What comes in for him?
1:02:12 Speaker 03 He gets about $800 a month from disability and then
1:02:16 Caleb Hammer? It's brutal.
1:02:17 Speaker 03 Little side hustles and things like that. He can get an additional maybe 700, 600.
1:02:28 Speaker 03 Just kinda depends on how his health is.
1:02:34 Caleb Hammer? I don't know, man. I don't know, man. I get it. And I get it looks good. I get it looks good when you say it and it makes you wanna say it and it looks good to the audience when you say it and it helps you can defer the actual pushback against you. But literally if I hear ever, I literally hear every single person on the show say, I'm ready to change. I'm ready for change. Yet they did not do a single cent, like actual cent of change. The moment before coming on, stop. I know what your spending was. I know what your spending was. It was not good.
1:03:06 Speaker 03 But I've, I've made small changes. I understand the spending's not good.
1:03:10 Caleb Hammer? But maybe we'll see.
1:03:11 Speaker 03 I got baby steps.
1:03:12 Caleb Hammer? I got, no, no David.
1:03:14 Speaker 03 There's more than monthly payments being, or more than minimum payments being made.
1:03:20 Caleb Hammer? We'll see.
1:03:23 Speaker 03 That one's my husband's.
1:03:27 Caleb Hammer? Okay, three in a row for the man.
1:03:29 Speaker 03 Yeah.
1:03:30 Caleb Hammer? Cabela's.
1:03:32 Speaker 03 And that's another use anywhere kinda card.
1:03:35 Caleb Hammer? $1,786.24 with a minimum payment of $65.
1:03:43 Caleb Hammer? Okay. Yeah, I mean, most cards are use anywhere cards. That doesn't mean we get to the credit woman again. Interesting. By the way, this also shows the indication of lack of change. They're all maxed out, some are over maxed out. I mean, you really can't spend on them anymore. Meaning that even if you wanted to, you couldn't. So listen, you probably did a few months ago and now you can't. So this, this is another reoccurring thing. Remember, I do this like five times a week.
1:04:08 Caleb Hammer? If you could have spent on these cards, you would have. This only looks good in these part of the statements because you're not, because you're at your max. It's incapable to spend any cards. Yet you still spent more than you made, which is crazy. 12 years to pay off for this one. 31.24% interest rate on all this.
1:04:26 Caleb Hammer? So what are we doing with this card? What happened? Because they're all maxed out, meaning we did at least recently spend on these cards. And no, they're not all for the moving expenses at this point. Because you said it was 6,500, yet we drained our emergency fund, only needed a few thousand. But our credit cards so far that we've talked about are nearing $20,000. So no, this wasn't all moving. What?
1:04:45 Speaker 03 Well, the Home Depot ones were for renovations, those ones.
1:04:48 Caleb Hammer? Okay, what about Cabalas? Cabalas?
1:04:50 Speaker 03 Cabela's?
1:04:51 Caleb Hammer? Cabela's.
1:04:52 Speaker 03 That one, part of that was moving expenses. And then, once we got into the house, that was also, um, we remodeled one of the bathrooms that didn't get covered by Home Depot costs and buying the tools and equipment to do the renovations.
1:05:06 Caleb Hammer? I just...
1:05:07 Speaker 03 And then some of it was also groceries.
1:05:10 Caleb Hammer? Did you need to do every renovation you did? You just, you said you renovated the kitchen in your current place, right?
1:05:15 Speaker 03 No, my old house.
1:05:17 Caleb Hammer? What did you renovate in the current place? Because you said you did renovations.
1:05:19 Speaker 03 Uh, we've done the popcorn ceilings.
1:05:22 Caleb Hammer? Why would we focus on popcorn ceilings and not a broken sink?
1:05:25 Speaker 03 So the sink wasn't originally broken.
1:05:27 Caleb Hammer? Okay, this shouldn't be a horribly hard fix.
1:05:31 Speaker 03 I'm not sure exactly what's wrong with it.
1:05:33 Caleb Hammer? Get a plumber.
1:05:34 Speaker 03 So I had my uncle out, who is a retired plumber.
1:05:38 Caleb Hammer? The, the, the family thing gets weird because like, I don't know. It, it's just, it always gets weird when you ask family for help on those kinds of things because they might not put in full effort, or even if they don't, or even if they do, maybe they're not as educated as a real person you want to come in. And whatever, you can't push back against them. You can't really push for what you want. It, it just gets really hard. You just want someone who's only there to provide the value they do. And there's not a family dynamic when it comes to this kind of stuff.
1:06:01 Speaker 03 So we do plan on getting a plumber to come out?
1:06:04 Caleb Hammer? Why haven't you? Just like you planned on fixing all this, but haven't. Come on, water's leaking everywhere. Huh?
1:06:09 Speaker 03 Part of it's been, I've been worried about getting in more debt, having to take out a loan to pay for this.
1:06:14 Caleb Hammer? Bro, you're about to double your mortgage.
1:06:16 Speaker 03 I was talking with my neighbor. She had a plumbing issue too, and they had to pay $2,000 for the plumbers to redo her piping.
1:06:23 Caleb Hammer? Get it diagnosed first. You don't know what it is. I don't care what her plumbing issue was.
1:06:27 Speaker 03 And we also don't have a clean out. Which is really weird. So I had the city come out and see if they can locate a clean out.
1:06:35 Caleb Hammer? Literally just get it diagnosed. I don't give a f- you don't know what's on the other side.
1:06:39 Speaker 03 Every time I tell the plumbers, I've called, gosh, almost every plumber in my area and asked like, "Hey, like, can you guys come take a look? Like, this is what's going on. It's been snaked. Not sure." It's a hundred dollars an hour plus a hundred and eighty dollars an hour for the camera because if you don't have a clean out, we're gonna have to use the camera to figure out where we're going in the pipes. It said, "Okay, about how many hours? Like, could you estimate?" They're like, "Mm, anywhere from four to six, starting."
1:07:03 Caleb Hammer? Okay. Another Home Depot card. This one's yours, yeah?
1:07:05 Speaker 03 Yeah.
1:07:08 Speaker 03 And again, renovations.
1:07:09 Caleb Hammer? Nine hundred ninety-nine dollars and ninety cents renovations, critical things in order to survive. Purchases forty-three dollars on this one, your card.
1:07:17 Speaker 03 Mm-hmm.
1:07:18 Caleb Hammer? Come on, why are we purchasing on your card? The one who's good with finances.
1:07:22 Speaker 03 Cause my husband maxed out his.
1:07:27 Caleb Hammer? What'd you get? It was seasonal garden section.
1:07:31 Speaker 03 I don't even know.
1:07:32 Caleb Hammer? Huh. Yeah. That's already to change.
1:07:38 Caleb Hammer? Thirty percentages. Yeah, let's get you back in therapy because you might need it. Listen, I'll give you three free therapy sessions, a sonder mine. It's the promotion that our audience gets and I get and you get, so do that. I'm gonna gift a course career certification to your husband because we need to make him more money, too.
1:07:54 Speaker 03 He's looking at other jobs currently.
1:07:57 Caleb Hammer? Well, I heard he wants to start his own shop, which requires upfront capital, so. Okay, America's Tire. Let me guess, it's for tires?
1:08:04 Speaker 03 Yep.
1:08:05 Caleb Hammer? You ever get a genius video idea while showering or stuck in traffic, but by the time you sit down to make it, you realize you'd need a film crew, an editor, and probably a four-year degree in animation? Cause, yeah, I've been there, and that's why today's sponsor, InVideo AI, exists. It's like ChatGPT, but a Hollywood production team instead. Yeah, type in the idea, literally just a sentence, and it turns into a full-length video in just minutes. So, let's try this. Create a one-minute video in hyper-realistic style about what would happen to humanity if the internet ceased to exist.
1:08:39 Speaker 05 Imagine a world where the internet suddenly vanishes. No warning, no explanation, it's just... Gone. The first thing you'd notice? A deafening silence. Your phone stops buzzing, your computer screen goes dark.
1:08:53 Caleb Hammer? Unlike traditional tools with steep learning curves that only solve for parts of the process, InVideo is the creative partner you've always wanted. It removes all friction, no timelines, no layers, just type commands like "add my voice" or "make it more intense." It even lets you clone your voice for narration. InVideo does all the heavy lifting so you can focus on what really matters: your vision. You can try InVideo AI for free using the link in the description or scan the QR code on screen. It'll save you hundreds of dollars that you'd otherwise be spending on editing, animating, and other production costs. Let's get back to the video.
1:09:29 Speaker 03 I had two slashes in my tires... and couldn't get...
1:09:34 Caleb Hammer? You slashed in your tires?
1:09:36 Speaker 03 I honestly don't know, we don't know that many people here. Um, I'm not sure if it's something that happened on the road.
1:09:41 Caleb Hammer? Okay, $900, $45 minimum payment. The minimum was a... oh, it went off a little because of a credit, okay. Uh... expiration date of this promotion... is in October, so that'll come out pretty soon. Best Buy, what's up?
1:10:00 Speaker 03 That's a use-anywhere card, that's a dangerous card.
1:10:02 Caleb Hammer? Pretty much, oh, okay.
1:10:03 Speaker 03 I've used that one to buy Southwest flights for family, and then...
1:10:08 Caleb Hammer? For family, what?
1:10:10 Speaker 03 So...
1:10:11 Caleb Hammer? What are you doing?
1:10:12 Speaker 03 My mom's actually coming out in July for my son's birthday. So, I... she didn't have the money right then.
1:10:18 Caleb Hammer? Good, she can come out when she can afford it, because you can't afford your bills.
1:10:22 Speaker 03 Alright, so, she's like, "Look, I can pay you from this paycheck and I can pay you from the next paycheck."
1:10:27 Caleb Hammer? How's that worked?
1:10:28 Speaker 03 Not well. And then, my cousin, who I had guardianship of at one point, is actually going into...
1:10:34 Caleb Hammer? Did you get insurance on the flights?
1:10:36 Speaker 03 No.
1:10:40 Caleb Hammer? Is it, can you cancel it? Yeah, it's pretty early. Cancel it. She can redeem it if she pays.
1:10:49 Speaker 03 I don't know if I can.
1:10:51 Caleb Hammer? Try, call, have a conversation. Maybe you can't, maybe you can, but it's pretty far ahead. Listen.
1:10:56 Speaker 03 She's paid part of it.
1:10:57 Caleb Hammer? We, how much? Of how much? Of how much?
1:11:01 Speaker 03 Three hundred.
1:11:02 Caleb Hammer? Okay, never mind, we can keep it. Push her for the rest.
1:11:05 Speaker 03 Yeah.
1:11:07 Caleb Hammer? Also, there's a Walmart on here as well.
1:11:09 Speaker 03 That's groceries.
1:11:10 Caleb Hammer? Great, so we grocery shop and go out to eat a ton. And Ross.
1:11:16 Speaker 03 That was birthday presents.
1:11:19 Caleb Hammer? I don't care, we don't do birthdays. We don't do birthdays.
1:11:23 Speaker 03 How do you know?
1:11:24 Caleb Hammer? For the kid?
1:11:25 Speaker 03 For my son's friend. He got kicked by a horse and got life flighted out and then it was his birthday.
1:11:31 Caleb Hammer? Huh?
1:11:33 Speaker 03 My son, he made a friend and the little boy got kicked by a horse and got life flighted out and then shortly after was his birthday.
1:11:39 Caleb Hammer? Flooded out?
1:11:40 Speaker 03 Yeah, like they, the helicopter landed on their property and flew him to Dallas to the children's hospital.
1:11:46 Caleb Hammer? Was he dead?
1:11:47 Speaker 03 No, thankfully no broken bones. Uh, he's got like, he, they were joking and said that he looked like Quagmire.
1:11:53 Caleb Hammer? How old?
1:11:54 Speaker 03 Three.
1:11:55 Caleb Hammer? Okay, it doesn't remember things.
1:11:59 Caleb Hammer? Core memories start around like three or four, it's barely, you don't need to do the gifts right now.
1:12:03 Speaker 03 So it's for his fourth birthday.
1:12:04 Caleb Hammer? Okay, well, okay, it might just be starting to form core memories, I don't know.
1:12:08 Speaker 03 Like my son remembers it, he's scared of horses.
1:12:10 Caleb Hammer? Put it on, well, it sounds like it just happened. Debit cards. Debit cards is where we put birthday presents, not on credit cards that we can't afford to pay off. Tractor Supply.
1:12:20 Speaker 03 Yard equipment.
1:12:23 Speaker 03 And dog food.
1:12:25 Speaker 03 I normally order their dog food through.
1:12:29 Speaker 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.
1:12:58 Speaker 03 His website. And when they don't have it in stock, I would go down to Tractor Supply and oftentimes they would price match for me.
1:13:08 Caleb Hammer? $29 minimum monthly payment at a $297 balance, 33.24% interest, kill me now.
1:13:15 Speaker 03 Yeah.
1:13:16 Caleb Hammer? That's crazy. Oh, I know this, Alta Beauty.
1:13:20 Speaker 03 Yeah.
1:13:23 Speaker 03 So.
1:13:23 Caleb Hammer? What's going on?
1:13:25 Speaker 03 I really lost myself in motherhood and just.
1:13:28 Caleb Hammer? What the fuck does that mean? Lost yourself in what way?
1:13:32 Speaker 03 Like, I never did anything for myself. Everything was for everyone else, my son especially, like. When I went to go put makeup on, I realized everything expired in 2020 or 2021.
1:13:42 Caleb Hammer? Okay.
1:13:43 Speaker 03 And my, I was feeling really down about myself, had a little bit of a crying moment.
1:13:48 Caleb Hammer? It doesn't matter, honestly, I don't need the sob story because it's paid off every month.
1:13:53 Speaker 03 Yeah. That was my husband's whole thing. Go take care of yourself, we don't have the money right now, you have the Alta card, use it.
1:13:59 Caleb Hammer? Pay off every month.
1:14:00 Speaker 03 Yeah.
1:14:01 Caleb Hammer? Credit Union of Texas, 15% interest rate, is this a car?
1:14:05 Speaker 03 Um, which one is that?
1:14:06 Caleb Hammer? No, $7,000 inch, uh, is this a personal loan?
1:14:10 Speaker 03 Yes.
1:14:11 Caleb Hammer? Okay, was this one of the consolidations?
1:14:13 Speaker 03 Yes.
1:14:14 Caleb Hammer? When?
1:14:15 Speaker 03 So that was actually part of moving expenses.
1:14:18 Caleb Hammer? What's the current balance, you know? You took out a personal loan for moving expenses, it wasn't even a consolidation. Okay, so.
1:14:24 Speaker 03 It was for consolid, we did consolidate a couple of cards and then.
1:14:27 Caleb Hammer? What's the balance?
1:14:28 Speaker 03 I believe it's at 6,800 now.
1:14:31 Caleb Hammer? 6,800. 6,800, good. With a minimum monthly payment of.
1:14:41 Speaker 03 250.
1:14:42 Caleb Hammer? 250 dot 60. So, this was for moving. This is not adding up to 6,500, because how much did you have in savings, 50 cents?
1:14:53 Speaker 03 We had. So my husband actually got five.
1:14:56 Caleb Hammer? How much did you have in your emergency fund was the question?
1:14:59 Speaker 03 We had eighteen hundred.
1:15:01 Caleb Hammer? Okay, then.
1:15:02 Speaker 03 Two thousand.
1:15:03 Caleb Hammer? Okay, you set up that whole thing at the beginning with when I was like pushed back on you not having an emergency fund? Oh, I had one. I had one, but it was drained. No, it wasn't. You had eighteen hundred dollars. That's not an emergency fund. That's like a half a month for you. Come on.
1:15:16 Speaker 03 It was the start of it was something.
1:15:18 Caleb Hammer? So it was something.
1:15:20 Speaker 03 It was better than zero.
1:15:21 Caleb Hammer? But you said it, of course, but you set it up as you had an emergency fund, but I had to drain it for an emergency. No, you didn't. It had like a half a month saved up. Come on. And then like this wasn't all for the move if it's at six thousand. You said the entire.
1:15:34 Speaker 03 I said, part of it was for the move.
1:15:36 Caleb Hammer? And then some of it was for consolidation, but some of the other credit cards were for the move.
1:15:39 Speaker 03 Yes.
1:15:39 Caleb Hammer? The like is the math is not adding up here.
1:15:43 Speaker 03 I guess I never really looked at the total of the expenses for moving.
1:15:46 Caleb Hammer? We need to know our numbers if we're ready to change. Which again, believe me. Makes me believe you're not.
1:15:55 Caleb Hammer? I mean, you don't even look at your spending from the previous month. How are you ready to change if you don't look at your spending?
1:16:00 Speaker 03 I just feel like I look at it like on a daily to weekly basis. So I just really have to look back.
1:16:05 Caleb Hammer? Full, you need the full image because you can't, you can't edit anything for the future. If you don't have the full image. Seeing something today doesn't hurt because these little things, they don't hurt. It's, it's the death of a thousand cuts.
1:16:18 Speaker 03 I think that's where we're at with everything and.
1:16:20 Caleb Hammer? Yes, that is where you're at with everything and the person ready to change would look at it.
1:16:25 Speaker 03 I guess I never looked at it that way. I just, I break it down like daily and weekly.
1:16:29 Caleb Hammer? I thought you said you watched David.
1:16:31 Speaker 03 I do, but I never looked back at like previous statements and stuff.
1:16:37 Speaker 03 I just, I feel like I pay it and I don't want to think about it again. I just want to keep looking at the future and getting stuff paid off.
1:16:46 Speaker 03 I don't want to look at what's already been paid. It's paid. I know it's paid. It's done.
1:16:50 Caleb Hammer? Okay, not necessarily. They're on credit cards except for the max out ones because now you can't spend on them. So no, they're not already paid. They're already charged. Okay, what about this personal loan at seven percent? I'm guessing, or is this a car?
1:17:04 Speaker 03 It might be a car. I think that's my husband's truck.
1:17:07 Caleb Hammer? I'm being told, wait, hold on.
1:17:13 Caleb Hammer? What?
1:17:15 Caleb Hammer? I guess there's another personal loan.
1:17:18 Speaker 03 Through Unify.
1:17:19 Caleb Hammer? Cox.
1:17:22 Caleb Hammer? I don't think I have, maybe that's in here, but they're saying you already took a a personal loan for an HVAC system in your current house.
1:17:31 Speaker 03 That's what it was supposed to be for.
1:17:33 Caleb Hammer? Where is it? What? What? Which one?
1:17:35 Speaker 03 The personal loan was supposed to be for the HVAC.
1:17:38 Caleb Hammer? The one we just talked about? What is it for? Is it for consolidation? Is it for moving? Is it for the HVAC? I am so confused.
1:17:45 Speaker 03 I have two personal loans and a debt consolidation loan. Sorry.
1:17:53 Speaker 03 So I've had consolidation loans. I've had moving loans and I had one that was supposed to be for the HVAC.
1:17:57 Caleb Hammer? This one's at 15%? Um, it has a current balance of $5,896. So what did this go to in 24 cents with a minimum monthly payment of 250 and 60? No, I'm confused.
1:18:21 Caleb Hammer? This is a mess. What is going on? What is this HVAC loan you're talking about?
1:18:26 Speaker 03 So we took out the HVAC loan, my-
1:18:28 Caleb Hammer? What is it? Where is it?
1:18:32 Caleb Hammer? It's the last one you said was moving. No way. It was consolidation. Wait, no.
1:18:37 Caleb Hammer? Okay. Is it the one that's at 4,000?
1:18:39 Speaker 03 It was the last one that we talked-
1:18:40 Caleb Hammer? Okay, which one is at 4,288.44 cents with a 16.74% APR?
1:18:45 Speaker 03 I think that's the Unify loan.
1:18:47 Caleb Hammer? And what did that cover?
1:18:48 Speaker 03 That was when we were still in California.
1:18:50 Caleb Hammer? For what?
1:18:51 Speaker 03 Um, gosh, I don't even remember.
1:18:53 Caleb Hammer? Oh, my goodness, dude.
1:18:54 Speaker 03 That one's like years and years and years old. Like-
1:18:57 Caleb Hammer? And you still have it?
1:18:58 Speaker 03 So we ended up-
1:18:59 Caleb Hammer? What was it for? You don't remember what a loan is for?
1:19:03 Speaker 03 I want to say it was a consolidation loan to begin with, and then we took out, we were talking about taking out another personal loan for $1,500 to try to fix the transmission in my car at the time.
1:19:14 Caleb Hammer? So cross out that last one. Add 4,288.44 cents is the new loan with a minimum monthly payment of
1:19:26 Caleb Hammer? I don't know. What's the minimum monthly payment on this one?
1:19:30 Speaker 03 So the Unify one's 250. Credit Union of Texas is 251.
1:19:34 Caleb Hammer? So 250. Okay, so 250 on that. This is lasting forever.
1:19:39 Caleb Hammer? What about this HVAC loan? What was that?
1:19:41 Speaker 03 So, my husband's coworker's brother does HVAC.
1:19:45 Caleb Hammer? We no longer do that. Don't use these personal little connections. Don't use these things. Go get a professional whose only job is to deliver the value that they are being paid for.
1:19:56 Speaker 03 We've definitely learned our lesson. Because after we got the loan out, we never got the amount that they actually needed to do this. And never had the follow-through, so it got used elsewhere. Renovations and car down payments.
1:20:14 Caleb Hammer? Car down payments? Personal loans for car down payments? Oh, for...
1:20:19 Speaker 03 Well, and then I use some of the money...
1:20:21 Caleb Hammer? And then you've been in and out of this cycle endlessly. And again, you think, I hope you change, I really do. But again, you haven't, there's not a single cent of change. And you keep promising it's coming, and I'm not saying it.
1:20:31 Speaker 03 I feel like it's...
1:20:32 Caleb Hammer? And women always promise that they're coming, and then they never do. So it's just like, I don't know. It's just... That's a repeated pattern, if there ever has been.
1:20:40 Speaker 03 And it's generational. And I want to break this for my son.
1:20:45 Caleb Hammer? Oh, not in that context.
1:20:47 Speaker 03 That's the big, like, push behind wanting to change.
1:20:52 Caleb Hammer? Yeah, but you had your kid, you were given birth. No, you had already given birth the last time you took out this consolidation.
1:20:57 Speaker 03 I know.
1:20:58 Caleb Hammer? So, again, what is actually different? He hasn't been reborn.
1:21:01 Speaker 03 The whole idea was debt consolidation and pay off the credit cards, get debt-free.
1:21:06 Caleb Hammer? That's not different. That's such a free! Taking a consolidation is not debt-free. You've listened to David!
1:21:11 Speaker 03 I know, okay, not debt-free. Paying off the cards and getting rid of them. And then it freaked me out when I had a card close on me for not using it. So then I was like, oh, I have to use these so they don't close my account and take my credit score. And then they also messed up my credit history when that card closed. So, then when we were trying to buy a house, we weren't able to.
1:21:34 Caleb Hammer? Buddy, good luck, man. The 7% of this finance, what did you finance? Twenty eight thousand, one hundred ninety-four dollars.
1:21:43 Speaker 03 That's my husband's truck.
1:21:45 Caleb Hammer? What's the current balance?
1:21:47 Speaker 03 Twenty-six.
1:21:50 Speaker 03 We pay, we do a split payments on it. We do two fifty twice a month.
1:21:54 Caleb Hammer? Five hundred dollar payment on a monthly basis? Death, I don't know how you guys.
1:21:57 Speaker 03 I think it's actually four eighty.
1:21:58 Caleb Hammer? And you want to double your mortgage? Good luck, okay, we'll do four eighty.
1:22:01 Speaker 03 But we do.
1:22:02 Caleb Hammer? You want to double your mortgage?
1:22:03 Speaker 03 We do pay five hundred on a month though.
1:22:04 Caleb Hammer? What's it worth? What do you think? You owe twenty-six, what do you think it's worth?
1:22:07 Speaker 03 Maybe twenty-five.
1:22:08 Caleb Hammer? Okay, it's worth sixteen thousand, four hundred twenty-five dollars.
1:22:11 Speaker 03 That's disgusting.
1:22:12 Caleb Hammer? What are you doing? And you guys wanted to go get new cars even though you couldn't? I know, not brand new cars, they're still new cars to you. You wanted to go get new used cars that you couldn't afford? Guys, so he could haul around a little dingy? A little fucking dingy? Guys, he has to make four trips from California. You better get a thirty thousand dollar truck. That's not worth a single.
1:22:29 Speaker 03 I'd have something to tow the trailers.
1:22:32 Caleb Hammer? Temporarily. Okay, how much comes in from these trailers?
1:22:38 Speaker 03 Well, the trailer is down right now.
1:22:42 Caleb Hammer? For fuck's sake, yeah, we're really changing our behavior. Come on, look where your mindset is on everything.
1:22:48 Speaker 03 It was making us a good amount of money.
1:22:50 Caleb Hammer? What's a good amount of money?
1:22:51 Speaker 03 Like an extra two grand a month on like.
1:22:53 Caleb Hammer? Okay, two grand net? Or gross? Cause what were you doing? Exactly, so what was it net?
1:22:58 Speaker 03 It was side jobs.
1:22:58 Caleb Hammer? What was it net?
1:23:00 Speaker 03 Two grand, it was just.
1:23:01 Caleb Hammer? You just said it gross.
1:23:03 Speaker 03 It was side jobs.
1:23:06 Caleb Hammer? What was the side job?
1:23:08 Speaker 03 Hey, can you take a load to the dump? Can you move this car for me?
1:23:11 Caleb Hammer? Dude, I would much rather you guys put in more effort in enhancing our career, getting him into a better career position. Instead of this bullshitting, justifying a thirty thousand dollar purchase of something that we cannot afford, that has lost half its value since you purchased it, or you overvalued purchased. Really, you're trying to justify the fuck out of this truck in every way possible, which means, no, behavior will not change. Listen, it's destroyed, it's dumb.
1:23:34 Speaker 03 You don't know me well enough to say that the behavior's not gonna change.
1:23:36 Caleb Hammer? But I know your finances. And I know what you've done, and I know your history.
1:23:39 Speaker 03 Keep looking.
1:23:40 Caleb Hammer? And I know the language you're using here. You keep saying, keep looking, but I know one thing for sure. Add it all together, he spent more than he made last month.
1:23:48 Caleb Hammer? So I'll keep looking, and it'll still come to the same result.
1:23:52 Caleb Hammer? What is the balance of the car that you have? I also just heard you justify this truck like four times. So what do you mean? Like I, I do know what people like you do. I have these conversations. I do.
1:24:04 Speaker 03 My car is 20,000.
1:24:06 Caleb Hammer? Okay, 20,000 for the car. Interest rate better, 5.7.
1:24:12 Caleb Hammer? Minimum payment?
1:24:14 Speaker 03 405.
1:24:19 Caleb Hammer? What's it worth?
1:24:21 Speaker 03 I could not tell you.
1:24:22 Caleb Hammer? What do you think it's worth?
1:24:23 Speaker 03 18?
1:24:24 Caleb Hammer? Basically, right about 19. This one held its value a little better, but it's still. Would you get rid of this car today if I told you to?
1:24:31 Speaker 03 I don't have, like, my husband has to drive to work and my son has doctor's appointments.
1:24:35 Caleb Hammer? With getting another car still, would you be willing to get rid of it? You're gonna trade down.
1:24:41 Speaker 03 As long as it's something that has a third row.
1:24:45 Caleb Hammer? Why? You have one kid.
1:24:48 Speaker 03 Right now.
1:24:50 Caleb Hammer? Even when you have a second kid, you don't need a third row?
1:24:53 Speaker 03 Well.
1:24:53 Caleb Hammer? Yet, yet, yet.
1:24:56 Speaker 03 We have five, if we had another kid, that'd be.
1:24:59 Caleb Hammer? You're holding other cats?
1:25:01 Speaker 03 No, my dad, my, me, my husband, my son, my dad.
1:25:04 Caleb Hammer? Um, just don't. Have a fucking kid. Listen, it's this, the reality is, okay, yeah, sure, shop, use third row.
1:25:14 Caleb Hammer? Okay.
1:25:17 Caleb Hammer? Buddy. 20,000 hours in the car. Listen, yes, you trade down, you borrow 11,000 hours. 1,000 of the 11,000 goes to paying off the car loan. 10,000 dollar car.
1:25:32 Caleb Hammer? Maybe not a third row. You don't 100% need it yet.
1:25:36 Caleb Hammer? We upgrade when you need it. Listen, you can't afford, you can't afford these minimum payment payments. And if you're not willing to change that, you're not willing to change anything. Cause it's a fucking piece of metal. We don't need sentimental value to it.
1:25:46 Speaker 03 No, it's not sentimental.
1:25:47 Caleb Hammer? Yeah, we'll see. Okay, mortgage, this is fine. The interest rate's a 6.1. That's actually better than I thought it was gonna be for your guys' credit. 141,882 dollars owed. What was the purchase one more time price?
1:26:00 Speaker 03 144?
1:26:04 Caleb Hammer? Oh, you're gonna have to, you have to minimum sell 175 and good luck. It's not, I don't, it's not looking good. I'll be honest. Minimum payment with all this included is $1,270.83. Yep, that's fine. That's not bad.
1:26:21 Caleb Hammer? What the is this? What is a $53,639 loan?
1:26:29 Caleb Hammer? Oh, I thought those are other loans combined. Okay. Oh.
1:26:32 Speaker 03 I don't have.
1:26:33 Caleb Hammer? I almost literally died.
1:26:38 Caleb Hammer? The amount of death that almost has happened across from you. Uh, but there is uh, $957 in our...
1:26:47 Caleb Hammer? Oh, no, actually, yeah.
1:26:52 Caleb Hammer? Oh, no, that's combined accounts, so it's not even like crazy. Okay. It's an Apple bill. It's, wait, you said keep looking. We've gone through the debt. What was I expected to find?
1:27:04 Caleb Hammer? Huh, huh, huh, huh, yeah. Oh, I looked and I kept going. Apple bill, Amazon Prime, stopping in some zelling out money, Apple bill. No, all right, here we go.
1:27:19 Speaker 03 And the zels was back and forth.
1:27:20 Caleb Hammer? Apple bill, Dutch Bros, Cracker Barrel,
1:27:24 Caleb Hammer? Nyax Vending, Panda Express, DoorDash, Jack in the Box, 51 bucks there, Amazon Kids Plus, Food Fast. C E F S Co?
1:27:36 Speaker 03 C F Co, the gas station.
1:27:38 Caleb Hammer? Yeah, but you went in and got something.
1:27:40 Speaker 03 That'd be my husband going to work.
1:27:42 Caleb Hammer? Burger Land, tell him to fuck off and stop stopping and be a big boy. School Bros Barbecue, that place downtown, Paris House, Asian Restaurants, Zelling Out Money, Burger King, Five Below, Five Below, going in and getting some bull Mexican restaurants, School.
1:27:59 Speaker 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.
1:28:28 Caleb Hammer? Bros BBQ, best mark, best mark. Man, TJ Maxx Express, Panda Express, Five Below, the Mighty Crab Cash App. I kept looking and it only got worse.
1:28:44 Caleb Hammer? Personal loan, ah, here's that personal loan we talked about. There's some fees, transaction fees, personal fees.
1:28:52 Speaker 03 I think that's the interest that they put off to decide.
1:28:54 Caleb Hammer? They just call fees? No, this is interest. Interest was 72. See, total fees is 1135. Might just be not having enough money and you're checking their savings. Forty-four dollars in this.
1:29:06 Speaker 03 I used it to pay off my son's medical bills.
1:29:09 Caleb Hammer? Yeah, that's our house savings and then $900. No, no, no, no, no, no, no, no, no, no.
1:29:13 Speaker 03 That's my 401K.
1:29:13 Caleb Hammer? Hold on. You took out a 401K loan against it?
1:29:18 Speaker 03 I did.
1:29:20 Caleb Hammer? I kept looking. I was promised something. What the [__] are you talking about? This is the last piece of paper, by the way. What the [__]?
1:29:29 Caleb Hammer? Why? When? The 401K balance is great, but it's so scary. It's so scary. If you lose your job with them, they can call a 401K loan and you can get it owed like that. You'd have to pay it all at once, like a call date in like 30 days.
1:29:44 Speaker 03 I owe like $800 left on it.
1:29:46 Caleb Hammer? Oh, thanks. When did you take it out? What was the total balance at one point?
1:29:50 Speaker 03 I think it was 3500.
1:29:51 Caleb Hammer? You never take out 40, oh. If that was called, man, you would have been [__].
1:29:57 Speaker 03 And that was years ago.
1:29:59 Caleb Hammer? For what?
1:30:00 Speaker 03 We're finally looking at the end of it.
1:30:01 Caleb Hammer? You only know how to take out debt.
1:30:05 Caleb Hammer? Cause you've never actually paid off that. You've only taken out debt to cover debt. If you kick the can down the road, we're still looking at debt from years and years and years ago. Dude, you're 27. I, it's not a repeated cycle. You actually just moved debt everywhere and then build it back up even further. You just built it up worse. That's why you have $80,000 in bad debt and you're gonna double your mortgage. Don't, don't. You wanna get that house? No, don't. It's as easy as that. I solved that, I, I solved that equation for you. I solved the damn equation. The equation is no.
1:30:37 Caleb Hammer? Okay, not including the mortgage, your minimum monthly payments alone are 2081. So he's working just to cover your minimum monthly payments, not including mortgage. And then mortgage, we know is 1,270.83. Utilities altogether, internet, everything, electricity, trash, blah, blah, blah. How much?
1:30:55 Speaker 03 Internet's 86.
1:30:57 Caleb Hammer? Okay, 86 for internet.
1:30:58 Speaker 03 Water is usually about 100, around there.
1:31:01 Caleb Hammer? 100. Gas, electric?
1:31:05 Speaker 03 Gas is like 40 bucks.
1:31:06 Caleb Hammer? Okay.
1:31:07 Speaker 03 And electric, depends on the time of the month.
1:31:10 Caleb Hammer? Average.
1:31:11 Speaker 03 I'd say average, 150.
1:31:14 Caleb Hammer? Okay, 290 for that, and then 86 for internet. Gas from drive, drive, both of you combined?
1:31:21 Speaker 03 He spends about 60 bucks filling up his truck once a week. I spend about 40.
1:31:27 Caleb Hammer? Once a week?
1:31:29 Speaker 03 Once a week, once like a week and a half.
1:31:34 Caleb Hammer? Okay, I'll put it at 360. Car insurances?
1:31:39 Speaker 03 So I have full coverage on my car, full coverage on his truck, and it's 240?
1:31:46 Caleb Hammer? Okay, phone bill?
1:31:48 Speaker 03 So the phone bill is 420 dollars.
1:31:51 Caleb Hammer? Oh, wow!
1:31:52 Speaker 03 But it's not, so I have more people on the line to make the phone bill.
1:31:56 Caleb Hammer? Do they always pay?
1:31:56 Speaker 03 Yes.
1:31:57 Caleb Hammer? How much is yours?
1:31:59 Speaker 03 So...
1:32:00 Caleb Hammer? The household, you guys?
1:32:02 Speaker 03 So 420 minus...
1:32:07 Speaker 03 150? No.
1:32:11 Speaker 03 65.
1:32:14 Speaker 03 200, minus 200.
1:32:15 Caleb Hammer? That's still fucking ridiculous. 220? Switch to helium. Do you own your phones outright, or are they financed?
1:32:22 Speaker 03 Some of them are financed.
1:32:23 Caleb Hammer? Oh, once you're done with financing, switch to helium. If T-Mobile's good in your area, switch to helium. We have to put 220 for now until you do that, damn it. Okay, groceries, we can do. We should be able to do 800. That's being generous. Use a bunch of friendly cookbook. You're gonna meal prep, so you only cook a few times a week, then you can no longer use the cooking excuse. TP fun. Anything else you need to survive? Goes for kids as well. $250. Medical healthcare. Co-pays, anything on a monthly basis?
1:32:50 Speaker 03 Um, co-pays, I think are $100 right now, because the deductible.
1:32:56 Caleb Hammer? Okay. What else?
1:32:57 Speaker 03 Each visit.
1:32:58 Caleb Hammer? It's a hundred. How many visits a month?
1:33:00 Speaker 03 So I'm being seen right now twice a month.
1:33:02 Caleb Hammer? So 200 a month? Okay, 200. Anything else medical?
1:33:06 Speaker 03 I think that's about it right now.
1:33:08 Caleb Hammer? Uh, pet insurances?
1:33:09 Speaker 03 I just canceled them.
1:33:10 Caleb Hammer? You're gonna sign back up? Ah, the chronic health.
1:33:13 Speaker 03 Yeah.
1:33:13 Caleb Hammer? Okay, never mind. Pet food?
1:33:16 Speaker 03 I just switched them to a different pet food to save some money. Uh, 120.
1:33:23 Caleb Hammer? Anything else that needs to be in your budget?
1:33:27 Caleb Hammer? That I have not taken into account?
1:33:29 Speaker 03 I think that covers everything.
1:33:31 Caleb Hammer? These are the necessities.
1:33:35 Caleb Hammer? Okay, needed to survive is $5,923.83 at a minimum monthly basis. Your guys' income together. That includes your bonus, because it only hits one year. Okay, we have a little bit of wiggle room, which makes no sense why none of this debt is being paid off. All I have to do is just keep waiting, and you'll see. Okay, $5,923.83. That gives you an extra $546.39. Let's call wiggle room 4639. Say you have $500 left on a monthly basis. $500 left on a monthly basis. $80,000 of bad debt.
1:34:14 Caleb Hammer? 160 months? 13 years. Pretty brutal.
1:34:19 Caleb Hammer? Okay, a couple options.
1:34:22 Caleb Hammer? We definitely need to get him into a better career field, and we're definitely not opening a shop yet, because you guys do not have the capital, nor are we doing a loan to do it. Uh, maybe grandpa pays rent?
1:34:31 Speaker 03 Not right now.
1:34:32 Caleb Hammer? Okay, grandpa can start paying a little bit of rent. Even a couple hundred bucks helps.
1:34:35 Speaker 03 He'll help out with groceries here and there.
1:34:37 Caleb Hammer? Well, that helps as well, but you're still only allowed to contribute this amount. And deduct whatever his does, because a couple extra hundred bucks. And then moves this, what was it, 12 years? $80,000. Divide that by 700 instead. And that brings us to nine and a half years, right? So just that from grandpa helps a lot. So, uh, okay. Well, we need to up if he can bring in if we do that plus an extra 500 hours a month net from the husband. Uh, that I mean with that that gets us maybe down to seven years and that's okay. Then we can do that. We can grind that out and then you will get pay increases hopefully more than your guaranteed 3% because that's just cost of living. I actually want real raises and career advancements, but either way, if you cannot finish this in eight years, I can also
1:35:22 Caleb Hammer? consider bankruptcy potentially. But that's gonna, yeah, it's, it's, it makes it really hard to do things in the future. It gets off your credit, but there will always be questions whether or not you've declared bankruptcy. And um, that's what I do, but you guys can pay off this debt. We can pay it off in about seven years. He needs to up that income. Okay. And you can no longer, no money going out to eat. This is, there's nothing, nothing, no trips, nothing fun, no paying for other people's, nothing. It is sticking down to the grind. And it's, it's a sacrifice for the kid. Because by the time the kid's 10, gonna have an incredible life and he's gonna know nothing but success and stress free financially.
1:35:57 Speaker 03 And that's my goal for him.
1:35:58 Caleb Hammer? And that's, if that's your goal, then this is your path to get there. And there will be no excuses to do so. So make sure you come back.
1:36:04 Speaker 03 And then would you recommend like bonuses when I get those once a month?
1:36:07 Caleb Hammer? Yeah, throw right to death.
1:36:08 Speaker 03 Okay.
1:36:09 Caleb Hammer? Once a month, he said once a year.
1:36:10 Speaker 03 Or sorry, yeah, once a year.
1:36:11 Caleb Hammer? Yeah, that accelerates the process as well. Maybe we get this down to six years. Okay?
1:36:14 Speaker 03 Okay.
1:36:15 Caleb Hammer? And six years is very attainable. Then a fully six month emergency fund. That's what you do. Show us progress on the follow up channel along the way. Spending a budget, you overspend zero out of 10 debt. Uh, this debt's brutal. This is so many cards. Yeah, 80,000 hours of bad debt, mortgage. There's just no collections or anything. So I'll give you a one out of 10. Emergency fund, nothing right now. Zero out of 10. Retirement. What was it? 50?
1:36:40 Speaker 03 I think it's 20 right now.
1:36:44 Caleb Hammer? Okay, 20,000.
1:36:46 Speaker 03 And I don't have my husband's, he's also got a 400k. He's just started it.
1:36:51 Caleb Hammer? Okay, so probably not much.
1:36:52 Speaker 03 Yeah, I'd like maybe five grand.
1:36:53 Caleb Hammer? If you combine your both, I'm putting you at a three out of 10. Real estate, not really in equity position, rough living, bad things with the house repairs that are gonna need to be put into it. It's not great. Fine interest rate, minimum payment you can afford, I'll give you a 5 out of 10 because you're at least in a position where if you hold on to and put a little bit of money into it, you actually might make some money in a couple of years. It's that step ahead versus having to get into the games from scratch. Rotted up in financial score, 2 out of 10, 1 point higher than you thought. Guys, join us for the post-show, we might call the husband. We have some extra juicy information that we can't talk about in the main show for privacy and demonetization reasons, so come join us and make sure you join Hammer Elite because if you do, best YouTube membership on the entire platform, platform has told
1:37:36 Caleb Hammer? the set themselves, and there's thousands of hours of extra content and other dedicated shows we have there, it is incredible. And make sure you download the simpler budget app, sign up for annual, I will sign the cookbook and mail it directly to you. See you in the post-show. Couch buying addiction, what the [bleep] does that even mean?
1:37:52 Speaker 03 I haven't, I have just been browsing and looking at couches. But she wants another one. I do want another one.
1:37:58 Caleb Hammer? Hey, hey, by the way, you haven't even paid off your last [bleep] furniture bill? You're not gonna go on a couch shopping spree?
1:38:05 Speaker 03 Just wait.
1:38:05 Caleb Hammer? Exclusive members content? Click the link in the description or pinned comment below and watch thousands of hours of extra and uncensored content.
1:38:15 Speaker 06 Now, more than ever, we need someone on our side. But Rob Whitman? Whitman's votes drove up costs, cut Medicaid, and risked 350,000 Virginians' healthcare to pay for tax breaks for himself and his donors. He's not on our side. Shannon Taylor will fight corruption, cut taxes, and bring down costs. This November, vote for Shannon Taylor. She's for us. Paid for by HMP, the HouseMajorityPac.com, not authorized by any candidate or candidate's committee.
Previous Imbecile Knocked Her Up, Now She’s F*cked | Financial Audit Next He Exploited Pr*stitutes, Now He's F*cked | Financial Audit Page updated November 3, 2026 · transcript and summary are machine-generated