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Transcript 17,556 words · 8 speakers
Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.
0:00 Speaker 00 Honey, that flu keeping you up?
0:02 Speaker 01 Yeah, I don't got this.
0:04 Speaker 00 You need Nyquil Intense Flu.
0:06 Speaker 02 Undo your flu symptoms with Nyquil Intense Flu. The nighttime sniffling, aching, aching fever best leave with a flu medicine. You do got this. Uses directed, keep out of reach of children.
0:14 Caleb Hammer? To watch episodes of Financial Audit a week earlier, check us out on YouTube. You know money's being put on the screen?
0:19 Speaker 04 I didn't know that.
0:19 Caleb Hammer? Okay, so we are not communicating, guys?
0:22 Speaker 04 I was told it was-
0:23 Caleb Hammer? It's a lie! Oh, so why are you telling her incorrect information then?
0:26 Speaker 05 I guess she didn't ask at the time.
0:28 Caleb Hammer? She has to ask to know?
0:29 Speaker 05 I mean-
0:30 Caleb Hammer? Well, are you okay with him spending on this?
0:32 Speaker 04 Um, no. If you don't have the money to buy stuff at the house, then it's my money.
0:35 Caleb Hammer? The [bleep].
0:38 Caleb Hammer? Download my new simpler budget app today and take control of your money once and for all.
0:45 Speaker 04 Hi, my name's Samantha and I'm 27 years old.
0:47 Speaker 05 Hi, my name's Todd and I'm 28 years old and we live in Kerrville, Texas.
0:51 Speaker 04 And this is Financial Audit.
0:54 Caleb Hammer? Guys, thanks for coming over. I always love having a couple on. It's an exciting way to start the week here. The audience are seeing this on a Monday, so thank you. Uh, we'll, we'll start with you Samantha. What do you do in Kerrville for a living?
1:07 Speaker 04 I am an accountant.
1:08 Caleb Hammer? Okay, cool. Well, that's a little confusing because the first thing on my plate and, you know, filling the endless bingo card of Financial Audit is an IRS bill. So I guess you didn't account your own money, sure.
1:23 Speaker 04 Well, that's not my bill.
1:25 Caleb Hammer? What do you, huh?
1:26 Speaker 04 That's not my bill.
1:27 Speaker 05 Well, well-
1:27 Caleb Hammer? Wait, are you guys married?
1:29 Speaker 04 Not yet.
1:29 Speaker 05 Not yet, no.
1:30 Caleb Hammer? Oh, you guys are not married?
1:31 Speaker 04 No, not so damn-
1:32 Caleb Hammer? Whoa, how long have we been together?
1:34 Speaker 05 Uh, over a year.
1:35 Speaker 04 Yeah, November made a year.
1:38 Caleb Hammer? Are we engaged?
1:39 Speaker 05 Yeah, yeah, look at the ring.
1:40 Caleb Hammer? Oh, okay, congratulations. When did that happen?
1:43 Speaker 04 August.
1:43 Caleb Hammer? And when are we getting married?
1:45 Speaker 04 June.
1:46 Caleb Hammer? Okay, interesting. So we're having a going into marriage conversation.
1:49 Speaker 04 Yes.
1:50 Caleb Hammer? Very interesting. All right, what do you make doing accounting?
1:53 Speaker 04 Uh, 65 now, thousand.
1:56 Caleb Hammer? Very good, okay. How does that stretch out there?
2:00 Speaker 04 Pretty-
2:00 Caleb Hammer? I would think pretty well, yeah. Okay, Todd, what do you do?
2:03 Speaker 05 I'm a firefighter, paramedic.
2:05 Caleb Hammer? Okay, what do you make?
2:07 Speaker 05 Um, you know-
2:07 Caleb Hammer? You're shaking, guy. You nervous?
2:10 Speaker 05 Well, you know-
2:10 Caleb Hammer? You run into fires.
2:12 Speaker 05 Yeah, I will, you know-
2:13 Caleb Hammer? You just got a little fat nerd in front of you. I'm not, well, I'm not a fire.
2:16 Speaker 05 Yeah, well, you know, here- Either way, I my base pays about sixty eight grand and
2:24 Caleb Hammer? Wow, okay.
2:25 Speaker 05 Last year I made about twenty thousand dollars in overtime, so.
2:28 Caleb Hammer? Wow, okay, so really, are we expecting that pretty similar this year?
2:33 Speaker 05 No, not at all, the uh.
2:35 Caleb Hammer? Oh, so closer to that sixty eight?
2:38 Speaker 05 Yeah, they they really took a chunk of our overtime.
2:41 Caleb Hammer? Seventy five, oh.
2:41 Speaker 04 It's a good per total, yeah.
2:43 Caleb Hammer? Well, what happened?
2:44 Speaker 05 Uh, you know, um, government things where they want to cut down on overtime.
2:49 Caleb Hammer? Yeah, you sound like a Texan wearing, wearing.
2:53 Speaker 05 Yeah, goddamn government, take our money.
2:55 Speaker 04 Yeah, they they're fully staffed now.
2:57 Caleb Hammer? Oh, so you were understaffed?
3:00 Speaker 05 Yeah, it's pretty nice.
3:02 Caleb Hammer? Probably not for the community.
3:04 Speaker 05 Oh, no.
3:04 Caleb Hammer? Who doesn't want their houses to burn down or to have a heart attack?
3:07 Speaker 05 There, we're just getting paid more.
3:09 Speaker 04 Yeah.
3:10 Caleb Hammer? Okay, but this this would be a combined household income eventually, kind of ish right now of a hundred forty thousand dollars a year. Um, we're engaged, we're not married, so how are we doing finances right now? How does this work in the house? I assume we're at least bunking.
3:25 Speaker 05 Yeah, I would say so.
3:26 Caleb Hammer? Okay, so how are we doing finances?
3:29 Speaker 04 So we have a joint bill pay account for our joint bills and then we each have a bill pay for.
3:34 Caleb Hammer? You're jointed, okay.
3:35 Speaker 04 So that part we are jointed on, the rest we pay out of our own and then we buy house stuff with whatever's left over out of our.
3:42 Caleb Hammer? House stuff, what's house?
3:44 Speaker 04 Oh, like building a house with our.
3:46 Caleb Hammer? You're building a house?
3:48 Speaker 04 Yes, for ourselves.
3:49 Speaker 05 Yeah.
3:49 Caleb Hammer? Please tell me you're not both on that yet.
3:51 Speaker 05 What do you mean?
3:52 Speaker 04 I'm not on, I'm not, the mortgage is under.
3:55 Caleb Hammer? Been joint paying the bills? How long have we had this joint account?
3:59 Speaker 04 August.
4:00 Speaker 05 Yeah, August, don't say so.
4:01 Caleb Hammer? So it's basically when engaged?
4:03 Speaker 05 Yeah, like we came back from all that and uh.
4:06 Caleb Hammer? Wait, you've been together for a year, you've been engaged for six months, so you got engaged after six months?
4:10 Speaker 05 We got engaged eight months, probably.
4:12 Caleb Hammer? Okay, okay, all right, so what am I looking at with such a strong income, household income? I have. This could be in fat stack week where this is, you know, and less paper.
4:25 Speaker 05 Yeah, I know. It's a, there's a lot of bills on there.
4:28 Caleb Hammer? And we're building a house where we have all this? Well, how much is it costing to build a house? What are we building kind of house?
4:33 Speaker 05 Almost all the debt that we have, it really is mostly about building the house.
4:38 Speaker 04 Yeah.
4:39 Caleb Hammer? Well, how much, what is this house?
4:41 Speaker 04 It's, I mean, the mortgage is eighty.
4:45 Caleb Hammer? We already have the mortgage. Are you building or is it built?
4:48 Speaker 04 I'm sorry, land loan, the land loan. It is a land loan with a well.
4:52 Caleb Hammer? It's not bad to own with a well. Okay.
4:56 Speaker 04 Yeah.
4:57 Caleb Hammer? It's not bad to own land, obviously, but it just depends on what our entire financial situation is like. Okay, again, again, what is going on here? What am I, what are we looking at today?
5:07 Speaker 05 So for the most part, got the land loan, which was originally, I want to say a hundred and twenty seven thousand. Now it's down to eighty. So that's.
5:15 Caleb Hammer? Took a sense.
5:17 Speaker 05 What?
5:17 Caleb Hammer? Sense.
5:18 Speaker 05 Uh, four years ago.
5:19 Caleb Hammer? Well, who got this land? Cause you guys didn't know each other.
5:22 Speaker 04 No, he did. It's only under his name.
5:24 Caleb Hammer? So you bought this land a while ago. Four years ago?
5:27 Speaker 05 Four years ago.
5:28 Caleb Hammer? Okay, you're twenty four. You took it alone for it. Cheap land out there? Sounds like it. What's the land size?
5:33 Speaker 05 Five acres.
5:34 Caleb Hammer? Oh, yeah. Cheap land out there.
5:36 Speaker 05 Yeah, I mean.
5:37 Caleb Hammer? At least for like central Texas, it's cheap land.
5:40 Speaker 05 Yeah, way cheaper than, you know, here, but for sure.
5:43 Caleb Hammer? Okay. I mean, that's certainly potentially a good investment, depending on how we're doing things. But like with what I'm, what I'm trying to get towards more is how are you guys doing? Like, what do you guys look like today? What is happening here? The finances, we know you have a joint account, but what are we looking at? Because you guys are going into marriage. So what are we talking about?
6:07 Speaker 04 Well, we're trying to get the house done before the wedding. Um, we're doing it all ourselves and we're pretty much at the point where we're cash flowing everything that we need to do on the house.
6:16 Caleb Hammer? We have IRS debt. We have debt. What cash flow? What do you mean we're cash flowing? Feel like we're just supporting ourselves because we have all the debt on our back.
6:23 Speaker 05 Those are just monthly payments, you know? I mean, there's still a good amount of money left over every month.
6:28 Caleb Hammer? The IRS.
6:30 Speaker 05 Yeah, they, I could pay them, you know, monthly. It's a monthly bill.
6:33 Caleb Hammer? Yeah, but usually there's pretty brutal interest with that. You really don't want to.
6:37 Speaker 05 I don't know about all that. It's like, what, eight percent?
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7:23 Caleb Hammer? Give Aura just a few weeks and you'll stop seeing your information on these sites when you search yourself, which will lead to less spam. Aura will also continuously monitor the dark web and alert me if they find my personal information has been exposed. They're gonna let me know fast if anyone tries to use this information to access my credit or bank accounts. Plus, they'll give me up to $5 million in identity theft insurance should the worst case scenario happen. You can go to my link aura.com/hammer to try 14 days for free. That'll be enough time for Aura to find out if any of your personal data has been exposed. Something that's not beating the market or the housing market.
7:58 Speaker 05 What would you say that interest is on that?
8:00 Speaker 04 I honestly don't, I can't remember right now.
8:02 Speaker 05 Oh, what? I thought that was your job.
8:05 Speaker 04 Well, not that part.
8:06 Caleb Hammer? Well, what do you mean?
8:07 Speaker 04 I do taxes.
8:10 Speaker 04 Look, he wasn't paying me. He didn't get me.
8:14 Caleb Hammer? Are you aware of each other's finances?
8:15 Speaker 04 Oh, yeah, completely, yeah.
8:17 Caleb Hammer? Doesn't sound like it. Okay, I would know the interest on the debts of my potential partner. Cause 4% versus 8% versus 16% is a huge difference. Wouldn't that be something we kinda wanna, okay. Are you sure, how informed are we? If that's considered informed on each other's financial situation, are we aligned on our spending? I'm trying to really get some insight into the coupleness.
8:41 Speaker 05 I would say that we're pretty aligned on it. The IRS deal, so we did a extension during tax season. She works a lot, so she didn't really have time to get to it during that. So we just filed an extension and then got it done. I don't know what the deadline is, August or something, August, September. So we filed it then.
9:00 Speaker 04 No, October, sorry.
9:02 Caleb Hammer? Okay.
9:03 Speaker 05 Just been making, you know, regular payments on that since then, because I owed money.
9:08 Caleb Hammer? Still feel like I'm not getting, maybe I'm not asking the question correct. I'm really just trying to understand like your, your, your guys' relationship with money with each other.
9:16 Speaker 05 Oh, well, all, anything that has to do with the house, we pay together. Is that what?
9:20 Caleb Hammer? Just the house?
9:21 Speaker 05 Yeah, I mean, like land, the mortgage.
9:23 Caleb Hammer? What about everything, which is, what about your guys', it's just communication with money, budgeting, anything at all?
9:29 Speaker 05 Every paycheck, we put a certain amount towards the joint account and then all the.
9:35 Caleb Hammer? Towards the joint accounts?
9:37 Speaker 05 Well, into our joint account.
9:38 Speaker 04 Yeah.
9:39 Caleb Hammer? Certain amount of money? So it doesn't all go into the joint account and then split from there?
9:43 Speaker 05 Oh, no.
9:43 Caleb Hammer? Which is traditionally what I would do when we were married, but I mean, we're not yet. Well, so how does this work? So you guys get paid into your own accounts and then you put a little in the joint account? Where does the joint account go to? That just goes to pay for the house?
9:55 Speaker 04 So it goes to our house, you, and all of our utilities, um, to the credit cards.
9:59 Caleb Hammer? Well, okay, okay. To the credit cards? You guys are, okay, sorry, continue.
10:05 Speaker 04 So, and then we each put enough in for the month to do fifty fifty, um, and then when they come.
10:11 Caleb Hammer? Fifty fifty what?
10:12 Speaker 04 Of the total bills.
10:16 Caleb Hammer? Okay.
10:17 Speaker 04 He pays fifty percent, I pay fifty percent.
10:18 Caleb Hammer? So we're still viewing it and honestly might be correct as of now, maybe not the habit. We would be doing in the future of his and mine. We're still splitting it, even though we still have the account. It's not one big pile of money that is ours and then we allocate it, not depending on how much came in from each source.
10:37 Speaker 04 Yeah.
10:37 Caleb Hammer? Why are you guys doing it this way? Again, you're not married yet, so I'm not like gonna necessarily even push for that. But where's the mindset on this?
10:44 Speaker 04 I would prefer not to have everything a hundred percent combined until until I'm on the loan for the land.
10:50 Speaker 05 Why is that the deal breaker?
10:52 Speaker 04 It's not a deal breaker, but I would like to have some equity in something if I'm gonna be putting.
10:56 Caleb Hammer? What about equity into the marriage?
10:58 Speaker 04 Well, yeah.
10:59 Caleb Hammer? Well, don't we trust the person we're spending?
11:01 Speaker 04 Well, absolutely, but he works kind of a scary job. So if something ever happened to him one day, I want to make sure that.
11:07 Caleb Hammer? Well, no, no, I agree with that. I'm not against that concept, but why not be joint until that specifically?
11:15 Speaker 04 I think that's more you question.
11:17 Speaker 05 Well, I, I, I don't, I don't even really know. I mean, we're joint on a lot of things, right?
11:23 Speaker 04 Yeah, I mean, we don't have a way really that we choose to split up who's pays for what other than the main bills. I don't know if that makes sense, but um, he kind of wants his own thing. So if he buys something that I think is stupid, I can't say anything about it.
11:38 Caleb Hammer? She can't say anything about it?
11:40 Speaker 04 Yeah.
11:40 Speaker 05 Yeah, I mean, like, you know, my own spending account would be pretty cool. I, I think it'd be.
11:44 Caleb Hammer? Well, hold on, but how are we determining that? Because again, okay, no, how are we determining that?
11:48 Speaker 05 Well, I mean, when my check hits my account, right? So I say my, right, to indicate. Then I just put that money into the joint account and then I keep the rest for myself.
12:00 Caleb Hammer? Versus joint?
12:02 Speaker 05 Um.
12:03 Speaker 04 We put eight hundred a month.
12:05 Speaker 05 Yeah, so I guess.
12:06 Caleb Hammer? That's enough? Eight hundreds pennies for what you guys make?
12:11 Speaker 04 For each, I'm sorry, eight hundred.
12:12 Caleb Hammer? Yeah, it's, you guys make, should make decently more than that. So that, the rest is going to fund?
12:19 Caleb Hammer? So what is the point then? What are we talking about?
12:21 Speaker 04 I pay my car bill, my healthcare, um, insurance, things like that, out of my own account. So
12:27 Caleb Hammer? Sure.
12:27 Speaker 04 There's all that. He has pretty much all of the same stuff. And then he has a couple other personal debts, which we both do, that we're not going to split because they're from before we got together.
12:36 Caleb Hammer? Mm hmm.
12:37 Speaker 04 Um, so.
12:38 Caleb Hammer? But we can't power pay them down together because we know, well, once we're married, because we know, even though technically.
12:48 Caleb Hammer? Yeah, what's our concept? What's, what's your thoughts on that once you're married?
12:51 Speaker 04 I'm, I'm not opposed to combining.
12:53 Caleb Hammer? We're not doing his, mine, mine, his?
12:55 Speaker 04 I'm not opposed to it.
12:56 Speaker 05 I mean, I, I think even, even in all of that, I'd still want my own spending account, you know?
13:02 Caleb Hammer? Okay, so this, but this is more where my, my mindset would be, and I'm, I'm not necessarily opposed to what you're doing for what you're doing now. I'm just kind of preparing for the marriage situation. It would be okay, we're allocating of the group pile, a certain percent of money for fun. Is there a big fun thing we want to do together? How much does that cost? Okay, whatever, we set that aside for that. How much is left over? Okay, here you go, Mr. Todd. Take this, put it in your account. You can spend that money, but that's money that we're allocating as a household. That we're understanding, not, okay, after you put a little bit towards the necessities, you just go below all the household money. That is like, because it's what I aren't. It's, we're allocating it as a house and plus wouldn't, why would the, would you possibly have fun money when you have eight percent debt to the IRS?
13:47 Caleb Hammer? It's one of the infinity stones of financial audit and you've collected it, which is not a good thing. So why would we even have fun spending in general when the IRS, the government, the ones with the guns, the ones who can, can, you know, take from your bank account without you even knowing?
14:00 Speaker 05 They're getting my, they're getting their money.
14:02 Caleb Hammer? They're getting their money now, but they're also charging you eight percent, something that you are not beating on average in the overall stock market or housing market. And I know you're trying to get into it.
14:11 Speaker 05 I mean, it's, you know, it's a small amount of money. That give them money every month. I'm really not worried about that.
14:17 Caleb Hammer? But what about the eight, eight percent interest part?
14:20 Speaker 05 I guess that's just, you know, I'm, I'm not really concerned about eight percent on one thousand bucks, you know?
14:27 Caleb Hammer? Why? Over a thousand, but why?
14:30 Speaker 05 Uh, I, it's just, you know, it's pretty minor. I mean, what is that like?
14:34 Caleb Hammer? But it's math, math, math. If you're gonna take that a thousand dollars, put it in the market, you're not gonna beat it. And IRS situations must be more risky. It's the principle of it. If you don't think that's that bad, what's gonna say you don't think it's that bad when it's 10,000 in some year?
14:46 Speaker 05 The problem is, is that I've had to owe the money damn near every time I do my taxes. So I just, you know?
14:52 Caleb Hammer? Then why don't you have anything set up? Or why do you not have your deduction set up properly?
14:57 Speaker 05 Um, you know.
14:58 Speaker 04 We've discussed this. He's not. So the business that he had a Schedule C that resulted in that the tax due for the last.
15:05 Caleb Hammer? What business was this?
15:06 Speaker 04 He, it was a tree business.
15:07 Caleb Hammer? Are you done?
15:08 Speaker 05 Uh, well, building a house has become such a.
15:12 Caleb Hammer? How long have you guys been building this house? What is this house? Is this like some ginormous mansion or is it a townhouse? What are we looking at?
15:19 Speaker 05 It's a, it's a, it's a regular old house, you know, twenty, twenty by thirty thousand square foot.
15:24 Caleb Hammer? One thousand square feet and how long is this taking?
15:26 Speaker 05 A year.
15:27 Speaker 04 We're doing everything.
15:28 Caleb Hammer? Why? Oh, you guys, this is you. Why?
15:32 Speaker 04 We're not gonna pay for something we can do ourselves.
15:34 Caleb Hammer? I can, I, I mean, I vibe with that. I'm just trying to understand, like, where our time's being allocated, where our focus is, and focus isn't being paid off debt. Our focus is building the house. What you got, what are you guys living in right now? Where are you living? What is it?
15:47 Speaker 04 We're living in the house. We finished the bedroom and the bathroom. Um, and.
15:51 Caleb Hammer? So you're living in an unfinished house?
15:53 Speaker 04 Yeah.
15:53 Speaker 05 Yeah.
15:54 Caleb Hammer? Okay.
15:55 Speaker 05 I mean, the bedroom's done, bathroom's done.
15:57 Speaker 04 We've got AC, we've got running water.
15:59 Speaker 05 Running water, power.
16:01 Speaker 04 Yeah.
16:01 Speaker 05 You know?
16:02 Caleb Hammer? Uh, okay. I mean, it's better than paying, I guess, an extra payment. It's the fact that you're right, eight percent of a thousand dollars is not gonna make or break your entire life. It's the, it's the no fear of the IRS that not understanding that eight percent is bad, that leads me to great, like, terror in terms of what this dude's okay with being in in the future, especially getting into a marriage, because all of a sudden you could become an anchor to someone else, an anchor to the boat of what you guys are trying to get to.
16:28 Speaker 04 I've made it very clear to him that we can't have.
16:30 Caleb Hammer? And his opinion on this, as he obviously.
16:33 Speaker 04 He agrees, I think.
16:34 Caleb Hammer? He agrees, then why the does he have this? His actions not aligning with the word I agree.
16:39 Speaker 05 This is a newer debt.
16:41 Caleb Hammer? You say you get it every year.
16:42 Speaker 05 Well, yeah, that's a problem is I just, I've, I've changed. So one thing I will say, I have changed, um, my, uh, tax, how much money comes out of my taxes.
16:51 Caleb Hammer? Yeah.
16:51 Speaker 04 On his W two.
16:52 Caleb Hammer? So what is, what's up with this business?
16:54 Speaker 05 And then, so that was, that was a business. Um, so I stopped doing it a little under a year ago. And the main reason is because, you know, we were living in this little RV that was genuinely, it was a free RV. So that, that can circle that down to what it was. So it was a free RV. So it was a piece of junk.
17:13 Caleb Hammer? Why were you guys living in that?
17:14 Speaker 05 Um, that's all I had, you know, it was, it was on the property, you know, it had power, but the, the shower was pretty junk. Um, either way, so I had to build a house and, uh, whenever I was off work.
17:28 Caleb Hammer? Couldn't have, certainly couldn't have gotten an apartment.
17:30 Speaker 05 No, you know?
17:31 Speaker 04 I was living in an apartment whenever we first met and then in August.
17:34 Speaker 05 I mean, apartment would be like twelve hundred dollars a month, you know?
17:37 Caleb Hammer? Well, I get that. Building a house costs tens of, tens of, tens of, tens of thousands of dollars.
17:41 Speaker 05 Yeah. I mean, you know, maybe like, but it's also equity.
17:44 Caleb Hammer? Potentially.
17:46 Speaker 05 But, you know,
17:47 Caleb Hammer? Not, not necessarily always.
17:50 Speaker 05 That would have been twelve hundred dollars.
17:51 Caleb Hammer? You guys are building this from scratch. Who knows if someone wants the kind of house you're getting. At least if you're getting it from a traditional designer, they're building it in a traditional type of market.
17:58 Speaker 04 So my brother-in-law is a home inspector and he's come and checked it out and everything.
18:01 Caleb Hammer? Home inspector means it's up to like, it's like the city isn't going to take it for you. That doesn't mean other people would want to buy it via your design and how you're choosing to build it. It's a thousand square foot house. That's usually not the kind of house that people are buying these days. That is like a classic American starter home, but that's not how people do it today. Not in America. America's like fifteen hundred or nothing.
18:20 Speaker 05 I mean, I'll go ahead and say that i- if we're going to talk about house design, the house is built to be added on to, and that's a goal after we pay.
18:28 Caleb Hammer? Great. So it's a Lego set.
18:30 Speaker 05 Yeah, exactly.
18:31 Caleb Hammer? Which is great for this building equity. Building equity is only a reality if you have an accident or borrow against it and with, with the bank value at it. I don't know. Okay. Okay. There we go. That helped. See, that helped me always establish kind of where our mind is. Um, okay. So the, the house has took too much time. So you stopped. What were you earning on that job?
18:55 Speaker 05 On the side job?
18:56 Caleb Hammer? Yeah.
18:57 Speaker 05 Um, you know, that's kind of hard to say.
19:00 Caleb Hammer? Well, you can pay taxes on it. So you should be able to say, cause you filed them.
19:04 Speaker 05 I mean, typically use maybe a couple more grand a month on top of my.
19:08 Caleb Hammer? That's huge.
19:10 Speaker 05 Well, you know.
19:14 Speaker 05 It's pretty good, I guess.
19:16 Caleb Hammer? Oh, yeah, a couple grand extra a month is pretty good when we have debt.
19:19 Speaker 05 But, yeah.
19:21 Speaker 04 It could be like he would get a job for two grand one month and then he wouldn't have a job for, you know, three or four.
19:27 Caleb Hammer? Side hustles, I mean, that certainly happens in the world of small business, especially the side hustle variation. What hits your account on a monthly basis?
19:34 Speaker 05 Um, I think after health insurance and all that, it comes out to maybe thirty six hundred, maybe almost four thousand, but.
19:44 Caleb Hammer? See, correct, you're.
19:45 Speaker 05 Eighteen hundred, so.
19:46 Speaker 04 Yeah, thirty six.
19:47 Caleb Hammer? Thirty six, okay, what about you?
19:49 Speaker 04 Uh, forty four. Oh, sorry, I just got the raise, so, uh, forty eight, seventy. I was at sixty and I went up to sixty five.
19:56 Caleb Hammer? Doesn't make any sense. If he makes sixty eight thousand dollars a year, why is it even less?
20:00 Speaker 05 That's my base without overtime.
20:02 Caleb Hammer? But you're at sixty five. Why are you getting net a thousand more?
20:06 Speaker 05 Health insurance, I get child support taken.
20:08 Caleb Hammer? Are you on his health insurance?
20:09 Speaker 04 No, not until June.
20:10 Caleb Hammer? So, uh, so she's taking care of things. Oh, how much is the child support?
20:14 Speaker 05 Four hundred some dollars a month.
20:17 Caleb Hammer? Okay, that puts a, that puts a dent in it a little more.
20:20 Speaker 05 His health insurance.
20:21 Caleb Hammer? Was that post, is that pre paycheck hitting?
20:24 Speaker 05 Uh, yes, pre paycheck.
20:25 Caleb Hammer? That makes more sense. Okay, what hits your account on a monthly basis?
20:28 Speaker 04 Forty eight.
20:29 Caleb Hammer? Okay. Okay, things make more sense. Does the kid ever live with you guys?
20:33 Speaker 05 About half the time, a little under half.
20:37 Caleb Hammer? You have to pay support with fifty percent custody?
20:39 Speaker 05 I don't make the laws in Texas.
20:41 Speaker 04 It's a situation, yeah.
20:43 Caleb Hammer? Okay, any other kids?
20:45 Speaker 05 That's it.
20:46 Caleb Hammer? Are we gonna have more kids?
20:47 Speaker 05 Yes.
20:48 Caleb Hammer? Okay, well, this is obviously the massive stack we'd want to clear up before doing that.
20:54 Caleb Hammer? Okay, so, income, yes, fifty five hit for you. Was it just an extra good month, extra paid month or something?
21:00 Speaker 04 Yeah, I got a bonus in December.
21:01 Caleb Hammer? Good. Third, how often is that?
21:03 Speaker 04 Um, we usually get one right after tax season and then in December, so.
21:08 Caleb Hammer? Okay, so pretty, so infrequently. Then you were thirty seven hundred, which is just about what you said, cool. So, at that point, you know, household after bonus, but normal household income is, we're sitting around the four hundred plus thirty six hundred, uh, eighty four hundred total. Good.
21:30 Caleb Hammer? Great, wonderful. Good, good, good. And even with a little higher month of ninety-two-hundred, that's great. So how much did we spend as a house, guys, as a household? Uh, because we're aligned on money. We should know, we're, we're understanding where all the money's going. We know what's happening because we're aligned. This is what we've said. We understand each other's financial situation. This is, this is what we have said on this show. So how much went out?
21:52 Caleb Hammer? Oh, we're guessing.
21:53 Speaker 04 Yeah.
21:54 Caleb Hammer? Why are we guessing when we know our financial situation and know what's happening with the other person's finances and we're combined and we talk about it? Are we guessing?
22:00 Speaker 05 I mean, I, I honestly feel like we probably spent our whole paycheck.
22:04 Caleb Hammer? That's interesting. Why are we guessing? Can you answer that question?
22:07 Speaker 04 Cause I don't look at his account.
22:09 Caleb Hammer? You said you know what's going on with his finances.
22:12 Speaker 04 I know what he spends. I don't look at the ending balance every month.
22:15 Speaker 05 Yeah, I don't, I don't.
22:16 Caleb Hammer? You guys aren't trying to practice budgeting as a household yet.
22:19 Speaker 05 I, I guess not, no.
22:20 Speaker 04 Well, I think, I think we're kind of at the point where.
22:22 Caleb Hammer? You have a joint account. Why?
22:24 Speaker 04 Yeah, but I think we're at the point where, you know, if we, either of us has extra money, we're just gonna put it towards the house anyways. And house or groceries is pretty much.
22:33 Caleb Hammer? Fun fact, no extra money. You spent ten thousand two hundred. What extra money? That's more spending than came in on a high month. Two thousand more than a normal month. Where's this extra money?
22:43 Speaker 05 I mean, you know.
22:45 Speaker 04 Insulation?
22:47 Speaker 05 Well, I mean, when it's on the house.
22:48 Caleb Hammer? That's not extra money. You spent more than came in.
22:51 Speaker 04 Oh.
22:51 Caleb Hammer? You don't have extra money.
22:53 Speaker 04 I mean, because we didn't spend as much the month before. I had extra money.
22:59 Speaker 04 Yeah, I didn't spend as much.
23:01 Caleb Hammer? Is that true? Will I be able to prove that that is true?
23:03 Speaker 04 Yeah, I think I had a beginning, well, because I have a savings too, and both my savings and my checking had.
23:09 Caleb Hammer? And you think it all goes to the house? That's what, that's where it all goes to?
23:13 Speaker 04 Not all of it, but that's where.
23:14 Caleb Hammer? That's where our extra spending goes, guys.
23:16 Speaker 05 For sure.
23:17 Caleb Hammer? How much do you think you spent going out to eat?
23:19 Speaker 05 Um, maybe three, four, five hundred?
23:22 Caleb Hammer? Okay, yeah, yeah. Nine hundred eighteen dollars.
23:25 Speaker 05 Damn.
23:27 Caleb Hammer? Yeah, that's our future.
23:28 Speaker 05 No. I mean, I believe that it's right there. I just.
23:31 Caleb Hammer? Spent a thousand more than you made, two thousand more on a normal month. Spent almost a thousand dollars going out to eat.
23:37 Speaker 05 I honestly can't believe that.
23:38 Speaker 04 I honestly don't know where we ate out that much, but I mean.
23:41 Caleb Hammer? Miss Lani's bullshit, things that don't matter. What do you think that is? Just extra little swipes, subscriptions, whatever. What do you think that is? Not subscriptions, but extra little swipes?
23:50 Speaker 05 Um, yeah.
23:51 Caleb Hammer? Toys, things like that. What do you think?
23:52 Speaker 05 Probably gas station stuff.
23:53 Caleb Hammer? Yeah, what do you think? How much?
23:55 Speaker 05 Three hundred bucks.
23:57 Speaker 04 I don't even know where to begin.
23:58 Caleb Hammer? Because we know about each other's spending. We look at each other's spending. You said you didn't know the bounds, but I know what he sends his money on. No, you don't. You're not able to answer that question. Come on. Seven hundred forty-six dollars. So now combined, we're almost two thousand dollars.
24:11 Speaker 05 Is that combined for both of us?
24:13 Caleb Hammer? It's combined across the board.
24:15 Speaker 05 Well, that makes a little bit more sense.
24:18 Speaker 05 But I mean, I'm not saying it's not a lot of money. It's definitely a lot of money.
24:20 Speaker 04 Oh, yeah, it's not money.
24:22 Speaker 05 So.
24:23 Caleb Hammer? Mm-hmm.
24:23 Speaker 05 But it I I acknowledge that's a lot.
24:26 Speaker 04 I'm wondering what's in the miscellaneous.
24:27 Speaker 05 I I want to see how we got to nine hundred going out to eat, though, because I don't know how we could have possibly done that.
24:33 Caleb Hammer? And guess what? Bright man over here, you know, special guy, sent us a twenty twenty-three statement.
24:40 Speaker 05 Hey.
24:40 Caleb Hammer? For December, but you know what? We included it anyway. And the reason why we did is because when we looked at twenty twenty-four, it was basically exactly the same. Nothing changed. So this is a tendency. These are habits that are built out that are almost unmovable. It's basically the same exact thing it's been doing from fiance to before fiance for the barely even dating at that point.
25:08 Speaker 04 Yeah.
25:09 Caleb Hammer? Before you leave this fucking, before you leave this place, Lindsay will work with you. Both of you get simpler budget, the budgeting app that I made on your phone, on your phone before you walk out this door. It's not an option. You get premium for free with all the classes and live classes, live sessions with the financial advisors that we do, all that good stuff. Do it. It'll at least tell you where the money's going because it auto connects. Don't be dumb about this, guys. You have to budget. You have to know what's happening. You have to know how much is going and how much is going in. You didn't know how much was going out. You didn't know where money went. You didn't even know how much went in on fast food. At least it'll tell you how much goes on fast food. You don't even know a number. You gave me a third of what actually happened. Come on. Download that shit. Use that shit.
25:54 Caleb Hammer? It's simple. It's easy to use for a reason. We built it just for people like you. Okay, for people like me too. I don't want the over complicated. I just want to budget, budget, budgeting. It's a new year. We're all trying to budget. We're all trying to make it a little better. Trying to improve our life. A lot of people on the show, a lot of people out there that I've heard from, they try to start a budget. They can't stick to the budget. It's because it's all too damn complicated right now. You use any of the budgeting apps out there, it's crazy. It's hard to know what's even going on. It's impossible to set up and it's a chaos to manage. That's why, over this last year, I did the thing. I made a budgeting app for you guys. This does not need to be complicated. You're trying to take control of your life, so it should
26:37 Caleb Hammer? be simple. It should be chill. It should be easy to set up and easy to manage. I've called it Simpler Budget, because that's all it is. It's your simpler budget. But we upped the ante with continued education and an ad-free version. In the premium version of Simpler Budget, you can track your spending, set goals and stick to a plan that actually works by connecting to all of your bank accounts automatically. No manual stuff here. There's actually weekly live sessions with financial professionals to answer your questions and keep you on track. They'll be teaching lessons and you can ask them things and they will actually help. There's also weekly mini classes, keeping you up to date and educated on every financial topic you need to improve
27:19 Caleb Hammer? your life. Plus, for a limited time right now, you get access to our new budget-friendly cookbook with 55 money-saving recipes to eat well without overspending. And because I love you guys, and it's a new year, literally anyone who signs up for the month of January gets all of this, including premium, for free for a month. It's time to actually make a budget and stick to it for the first time ever. Let's take control of our 2025 and make this the best year ever. Download the Simpler Budget app today. A link in the description below. This budgeting app will change your life. You want to have kids. You want to have a family. You want to have goals.
28:01 Caleb Hammer? Your household finances matter. Okay?
28:03 Speaker 04 Yeah.
28:04 Caleb Hammer? Yeah? Alright. I'm gonna say three, two, one, go. On go, I want you guys to give me at the same exact time what you think your household financial score is headed into this marriage. A zero out of 10, zero being the absolute worst, 10 being the absolute best. Where do you think your household financial score is? In three, two, one?
28:25 Speaker 04 Three.
28:25 Speaker 05 Three.
28:26 Caleb Hammer? Okay, we're aligned. So you think you're pretty close to average? You don't think you're at the bottom of the barrel? We owe the IRS money. Why aren't we at the like, oh, shit?
28:36 Speaker 05 Uh, you know, I feel like we live pretty comfortably for what it's worth.
28:40 Caleb Hammer? On debt, spending more money than you make? Yeah, go ahead.
28:42 Speaker 05 Yeah, sure. But, um, at the end of the day, I mean, as far as the house going, we're almost done with that. So you know, we don't have to buy like insulation and drywall.
28:55 Caleb Hammer? Guys, a thousand dollars going out to you, 750 dollars in miscellaneous, it is not about insulation.
29:00 Speaker 04 Yeah, but I mean, I think it pulls us up a little. He has a pretty good retirement. I know I don't have any, or pretty much any, so that's.
29:07 Caleb Hammer? Well, that's bad.
29:07 Speaker 04 Yeah, that's dragging me down.
29:08 Caleb Hammer? What's your pretty good retirement?
29:10 Speaker 05 TMRS.
29:11 Speaker 04 He's at?
29:11 Caleb Hammer? Yeah, how much?
29:12 Speaker 05 Well, it's 20, but it doesn't get two to one until, until I get five years. I'm almost at five years.
29:18 Caleb Hammer? He's, uh, he's a third of the way where he should be in two years. So no, you'd get a three out of 10 on just retirement alone.
29:25 Speaker 05 Six thousand, sixty thousand right now.
29:28 Caleb Hammer? Better than you are, but yeah, when you have zero, everyone's doing better than you are. Alright guys, if you want your Hammer Financial Score, it's free. See where you stand in the world of your financial health. Go to CalebHammer.com. It's there. You can go to CalebHammer.com/apply specifically if you want to come on the show. Have you guys had a, you know, a good experience so far coming in, meeting some of the crew, talking to lovely Lindsay?
29:49 Speaker 04 Yeah, Lindsay's great.
29:49 Caleb Hammer? Then you get beat up by me a little and all your onboarding videos and all that good stuff. Thank you for going through that entire process because we want, we want to braid you guys with information.
29:59 Speaker 05 I was definitely braiding with information.
30:01 Caleb Hammer? Yeah, we need to make sure you guys know what you're getting into, okay? Like that mustache is getting exposed to a lot of people right now, so.
30:08 Speaker 04 He trimmed it for y'all, so.
30:09 Caleb Hammer? Well, thank you. That's so kind of you. I wish you could have trimmed this IRS debt, which is the first debt we're gonna talk about.
30:15 Speaker 05 Damn, I, I thought we kinda went over it. Like, it's gotta get paid. That's.
30:18 Caleb Hammer? Yeah, but we need, let's, let's book it in the. The the debt counter right now, one thousand three hundred eighty one dollars and sixty six cents. Okay, so this is eight percent. What's your minimum monthly?
30:31 Speaker 05 I paid two fifty on it.
30:33 Caleb Hammer? What's your minimum monthly?
30:34 Speaker 05 They don't, that's a whole, that's a whole mess right there.
30:37 Speaker 04 We have not been able to get, he had his last one set up on a payment plan and they haven't cleared out that.
30:42 Caleb Hammer? Last one?
30:43 Speaker 04 Yeah, for.
30:44 Caleb Hammer? There's another one.
30:44 Speaker 04 For no, for twenty twenty three.
30:46 Caleb Hammer? Is it done?
30:47 Speaker 04 Yes, that one's paid off.
30:48 Caleb Hammer? Why are you always so behind on your debt? Okay.
30:50 Speaker 04 Um, he hasn't, they haven't cleared out that old payment plan yet and it's not letting him do a new one, so we need to get the IRS on the phone and get it figured out, but.
30:59 Caleb Hammer? Why haven't you got on the IRS on the phone and figured it out?
31:01 Speaker 04 It, have you tried calling the IRS lately?
31:04 Caleb Hammer? Oh, yeah.
31:04 Speaker 04 It's rough.
31:08 Caleb Hammer? We've communicated well with the IRS to pay our business twenty twenty four taxes.
31:11 Speaker 05 But two hundred and fifty bucks is what I pay on it, and so it should be paid off in a few months.
31:16 Speaker 04 And then fun fact, I will, uh.
31:18 Caleb Hammer? I'll do two fifty.
31:18 Speaker 04 I will owe the IRS.
31:19 Caleb Hammer? The minimum was, you owe the IRS?
31:21 Speaker 04 A thousand dollars.
31:22 Caleb Hammer? Now for why?
31:23 Speaker 04 Um, I got some bad advice about the, uh, advanced tax credit for the healthcare and I have to pay that back.
31:29 Caleb Hammer? For the healthcare? You're, you're on the Affordable Care? Do you qualify for that?
31:33 Speaker 04 Well, initially, whenever I signed up for it, whenever I turned twenty six, I did.
31:37 Caleb Hammer? So a year ago, what were you making at that time? So you're still on that? You still have your plan through that?
31:41 Speaker 04 Yes, and I.
31:42 Caleb Hammer? So you have to pay a little extra then? Okay, and this is when taxes come due. Okay.
31:45 Speaker 04 Yes.
31:46 Caleb Hammer? Okay.
31:46 Speaker 04 I drafted my return this morning.
31:47 Caleb Hammer? Okay, so a thousand, well, well, okay, so a thousand for future taxes.
31:52 Speaker 04 Yeah.
31:55 Caleb Hammer? Eight percent, not insignificant. Again, on average, your housing is not beating that.
32:02 Caleb Hammer? The value of your land is not beating that on average. Obviously during the COVID boom, sure. Apple Card, who's Apple Card? Or is it both? Are you guys ever, are you guys joint on anything? Debt wise?
32:14 Speaker 04 No.
32:14 Caleb Hammer? Okay, so you're.
32:16 Speaker 04 Um, are we?
32:18 Speaker 05 The AC maybe.
32:19 Speaker 04 No, the AC is on my.
32:20 Caleb Hammer? I thought you guys told me you knew your finances together.
32:22 Speaker 04 I was thinking that, yeah, we were together on the AC loan, but we're not.
32:25 Caleb Hammer? How often do you guys talk about money? Really? Come on.
32:28 Speaker 04 Almost really.
32:29 Caleb Hammer? Okay, just not in a smart way? Cause you don't seem to know, like you're.
32:35 Speaker 05 I think the goal where, um, the goal we've had, or at least the goal I've had is just paying off the lower ones first. So this Apple credit card is actually one of the the next ones that we're gonna be or I'm gonna be tackling for sure because it is my debt. That one's pretty diabolical, honestly, because you can just press the button on the phone and it's done, you know?
32:58 Caleb Hammer? Yeah.
32:59 Speaker 05 And I don't even have the card like I because I've tried to get away from it, but it's just so constant of it. It's constantly available. You can't really close it. Even if you lock it, it still lets you pay for it, you know?
33:13 Caleb Hammer? It's stopping at a gas station, getting some bullshit.
33:15 Speaker 05 Oh, that was gas.
33:16 Caleb Hammer? During getting some bullshit. Only $10 of gas, $10.23 of gas.
33:20 Speaker 05 Sometimes be like that.
33:21 Caleb Hammer? But why? Why on a card that is this maxed out? This has to be close to it.
33:24 Speaker 05 Yep.
33:25 Caleb Hammer? How long does this take to pay off doing minimum monthly payments, guys?
33:28 Speaker 05 It's gonna take.
33:29 Caleb Hammer? How long does this take to pay off using minimum monthly payments, guys? That was the question, by the way.
33:35 Speaker 04 I'd say probably about eight or nine.
33:36 Caleb Hammer? Thirteen.
33:38 Speaker 05 Yeah, no, I don't.
33:39 Caleb Hammer? What is the limit on this card?
33:41 Speaker 05 2,500 bucks. That's that's the limit.
33:44 Caleb Hammer? Okay, so we're like, we're like, we're like 60 bucks away, 60, 70 bucks away.
33:49 Speaker 05 Yeah.
33:49 Caleb Hammer? Why keep it up there? I understand the paying minimums on some other well, we're paying a minimum on this, trying to pay off some smaller balances. I get that part. I get that part. Why are we putting money on this card? You know money's being put on this card?
34:04 Speaker 04 I didn't know that.
34:05 Caleb Hammer? Okay, so we are not communicating, guys?
34:08 Speaker 04 I was told it was.
34:08 Caleb Hammer? It's a lie. Oh, so why are you telling her incorrect information then?
34:12 Speaker 05 I guess she didn't ask at the time.
34:14 Caleb Hammer? She has to ask to know. When we're communicating about finances, she's required to ask to know things.
34:20 Speaker 05 I mean.
34:22 Caleb Hammer? This is how we're starting our communication before the marriage happens?
34:26 Speaker 05 Yeah, I mean, it it it she didn't, I mean, you know, it was a couple of times on there besides that.
34:34 Caleb Hammer? Why doesn't she get to know unless she asks? That you guys are on the or what would you? Are you okay with him spending on this?
34:40 Speaker 04 Um, no, I mean.
34:42 Caleb Hammer? So what are we doing then?
34:43 Speaker 05 I guess in my mind, that's my debt and it's my problem. So when it's.
34:47 Caleb Hammer? Yeah, kind of.
34:49 Speaker 04 It is communal money, though, because if you don't have the money to buy stuff for the house, then it's my money. And then in that way it becomes joint.
34:55 Speaker 05 Right. All right. Well.
34:57 Caleb Hammer? Plus, depending on how you guys do things, you could be responsible for it if you get. In the future. As an asset would have to be sold in order maybe settle.
35:07 Speaker 05 Right. Well.
35:10 Speaker 05 It's just, I mean, I don't want to have the debt, but it has been hard as heck to pay that thing off.
35:17 Caleb Hammer? I don't want to have the debt, so let me spend money and make the debt worse. It's an interesting philosophy, interesting strategy, not what I've personally considered.
35:27 Speaker 05 Yeah, no, it's a.
35:32 Speaker 05 I don't know what really to say on that thing. The reason I spend on it is because it's always available, no matter what you do.
35:39 Caleb Hammer? But it's sixty bucks, sixty bucks away.
35:42 Speaker 05 Yeah.
35:43 Caleb Hammer? Sixty bucks and it's done. Want to max out a credit card in your, in your marriage?
35:47 Speaker 04 No, but I almost have one of my own, so.
35:52 Caleb Hammer? Seventy-nine dollar minimum payment. It's all we put towards it. And yeah, this is, this is maybe gas, I guess, just a little bit of gas. What are you, what are you driving?
36:03 Speaker 05 Uh, I drive a Chevy 1500.
36:07 Caleb Hammer? So it's like no gas?
36:09 Speaker 05 I mean, it got me to work that day, right?
36:11 Caleb Hammer? And is that what we're doing? We're living day to day, over six, six, well, a hundred, hundred thousand dollars a year as a household? And we're just like, oh yeah, I made it to work, hundred forty thousand dollars a year as a household. I got to work. So those are the big goals we're striving towards. That's where we're happy and satisfied. Yeah, interest charged last year alone, six hundred sixty-nine dollars. Six hundred sixty-nine dollars, that could have gone towards insulation. I know you like your insulation.
36:36 Speaker 05 Yeah, I mean, honestly, that's kind of surprising. It's that low, to be honest with you, because.
36:41 Caleb Hammer? And we're okay with that?
36:42 Speaker 05 I, I, I mean, I'm not okay with it.
36:44 Caleb Hammer? Spending on it, so you are.
36:46 Speaker 05 But.
36:47 Caleb Hammer? You're spending on it, so you are. Your actions are suggesting that you are okay with it.
36:52 Speaker 05 I, I think it's not, not the, you know, I, I want to get rid of it, but it is kind of a backup plan whenever I need money.
37:02 Speaker 04 You could sell one of the cars and maybe pay, maybe pay something off.
37:06 Caleb Hammer? What is one of? Well, how many cars do we have?
37:08 Speaker 05 Well.
37:09 Speaker 04 Running?
37:10 Caleb Hammer? Don't be one of these guys. You're one of those guys. You look like one of those guys. Of course you're one of those guys. You're in the hill country.
37:16 Speaker 05 Well, you know, they all ran when I bought them, you know?
37:19 Caleb Hammer? Great. How many fucking piles of metal do we have?
37:21 Speaker 04 We have his car, my car, and we have three now running. So a Jeep bucket truck and a.
37:28 Caleb Hammer? Well, well.
37:29 Speaker 05 I just sold the bucket truck for what it's worth.
37:31 Caleb Hammer? For what?
37:32 Speaker 05 I mean, like two grand, you know?
37:35 Speaker 04 It's not running.
37:35 Speaker 05 It wasn't running and it's, it really is kind of a piece of shit.
37:39 Caleb Hammer? Why do you have all this?
37:41 Speaker 05 Well, um, you know, the truck is a dump truck, um, that I built.
37:47 Caleb Hammer? So dumped that you built?
37:49 Speaker 05 Yeah.
37:49 Caleb Hammer? You built a dump truck for the tree?
37:51 Speaker 04 It's a Ford 2500.
37:53 Caleb Hammer? Is it for the trees?
37:54 Speaker 05 Yeah, you know, dump like firewood and stuff or, uh, chips.
37:58 Caleb Hammer? Chips?
37:59 Speaker 05 Yeah, wood chips.
38:01 Caleb Hammer? Why are you dumping chips?
38:03 Speaker 05 Well, you know.
38:03 Caleb Hammer? For the business?
38:04 Speaker 05 Yeah.
38:04 Caleb Hammer? So for the business?
38:06 Speaker 05 Yeah, it was for the business. It was a necessary purchase. Um, and now it just doesn't run. Which is why I have the truck I have now. I didn't have any payments, but.
38:13 Caleb Hammer? How much were you making off these chips?
38:16 Speaker 05 Um, I wasn't, I mean, that's just a way to get rid of them. Just a way to throw them in the trash.
38:19 Caleb Hammer? Was this the business you were making 2,000 hours a month on?
38:22 Speaker 05 Yeah.
38:23 Caleb Hammer? Okay.
38:23 Speaker 05 Yeah, no, that, so, and then.
38:25 Caleb Hammer? So was that a part of the reason why you're not doing it anymore? Cause this isn't driving?
38:29 Speaker 05 No, it, it drove until after the end of the business.
38:31 Caleb Hammer? But it's not now.
38:33 Speaker 05 But.
38:34 Speaker 04 I think if it was running, he would probably be still doing.
38:36 Caleb Hammer? See, that's what I was asking. Why are you denying that, dude?
38:39 Speaker 05 Well, I mean, I don't know if I would still be doing it. I might sell like firewood still, but.
38:45 Speaker 04 Yeah.
38:46 Caleb Hammer? What are you doing with firewood?
38:47 Speaker 05 Selling it.
38:48 Speaker 04 Well, after you cut it down.
38:49 Caleb Hammer? So you cut down trees, but you would be have to be cutting down other people's trees for that, right? Or are you cutting down your own trees?
38:55 Speaker 05 No, it's other people's trees.
38:56 Caleb Hammer? Okay, so you'd still have to be doing the business in order to do that firewood thing?
38:59 Speaker 05 Yeah, but at the end of the day, I, I stopped it so I could start working at my house. That was the whole thing.
39:04 Caleb Hammer? Yes, no, I got.
39:07 Caleb Hammer? Yes. Yes, yes, yes, yes, yes. Your lovely future wife thinks he would be doing that today if the truck ran, is what we're saying.
39:14 Speaker 04 He definitely still gets people calling or texting about it sometimes, asking him to do house or different trees, different places. And so I think he would, he's a hard time saying no, so I think he would still be doing it if.
39:24 Speaker 05 Yeah.
39:25 Speaker 04 If we had this.
39:27 Caleb Hammer? That would be good for you guys. Obviously, okay. You're not credit card people. You're not?
39:33 Speaker 05 Nope.
39:33 Caleb Hammer? Congratulations. You don't know how to use that. Use the Fizz card. It's a debt, it's a debit card, debit card that builds credit. So you can use the Fizz card. Wonderful. Okay, use that. And I'll also gift you an accounting certification so you can, you know, use that leverage and hopefully get a raise from Course Careers. And then we'll also get you guys to sit down with our therapist for three sessions for free at Sondra Mind. So you're going into this marriage healthy, please.
40:00 Caleb Hammer? He's telling me you're open to therapy. Why'd you just look at him?
40:03 Speaker 04 Oh, I am.
40:04 Speaker 05 Oh, yeah.
40:05 Speaker 04 This was a recent conversation.
40:05 Speaker 06 You're gonna be a man tomorrow. I don't need to talk about my feelings. I got a Ford.
40:11 Speaker 04 He wasn't totally against it, but he said if if it was us together, he'd be more open to it, but nothing individual.
40:19 Caleb Hammer? Well, did you suggest he should do individual?
40:22 Speaker 04 Well, I was just thinking, you know, in general, just to figure out where we are before we go into everything.
40:26 Caleb Hammer? Yeah, why aren't you open?
40:28 Speaker 05 I mean, I just, I feel like if that was, I mean, we're.
40:32 Speaker 04 He feels like he doesn't need to talk to anyone.
40:34 Speaker 06 I'm a red faced man who lives in a country has a Ford. I'm a man. I wear camouflage.
40:42 Speaker 05 Look, I mean, I I'm fine with where I'm at mentally, you know, but I I don't think that's what we're here to talk about.
40:49 Caleb Hammer? Feel free to feel free to use them. Not not necessarily. That's not everything in the world impacts finances.
40:55 Speaker 05 Right.
40:55 Caleb Hammer? Like, everything comes back to finances. It's mental, it's relationships. So much impacts it. So you're right, we're here to talk about finances, but everything impacts it in a different way. Club therapy before marriage might be worth at least sitting down, talking some things out, mostly because it looks like your future wife would like that. Just why are you against it? That's the one I'm so curious.
41:18 Speaker 05 I'm not necessarily against it. I just don't.
41:19 Speaker 06 Was it a bit fruity for you?
41:22 Speaker 05 I wouldn't say that. Like, I'd be fine with, like, if we needed to do, like, a relationship deal, but.
41:26 Caleb Hammer? You know, a lot of that stuff, you know, I'm not gonna on the therapy world.
41:33 Caleb Hammer? Too much, but it's just like.
41:36 Caleb Hammer? A lot of it's. It's you. Don't wait until there's something wrong. A lot of it is just healthy. It's just good. It's just another health to take care of. Reading's good for health. It helps, you know, statistically, you know, less people that read have a less likely chance of getting dementia. There's physical activity health. There's a lot of different health. This is mental health.
41:57 Speaker 05 Right.
41:57 Caleb Hammer? It's good to take care of it. You want kids eventually. More.
42:01 Speaker 05 Yeah.
42:02 Caleb Hammer? You're gonna be busting them out. So.
42:05 Speaker 05 Busting some out.
42:07 Speaker 04 Sounds like a lot.
42:08 Caleb Hammer? Well, how many kids are you guys gonna have?
42:11 Speaker 05 Oh.
42:11 Speaker 04 I think one or two.
42:13 Caleb Hammer? Okay, well, I'm just saying, you want to be in the best place necessary. Okay, what what is this? Who has the Discover it card?
42:18 Speaker 04 That's me.
42:19 Caleb Hammer? Okay, you're right. You do have a card. It was it's a quadruple compared to the last card.
42:24 Speaker 04 Yep.
42:24 Caleb Hammer? Okay, what do what do you do here? What's happening?
42:26 Speaker 04 So back last April, I decided it was gonna be a good idea to put LASIK on that card.
42:32 Caleb Hammer? LASIK?
42:33 Speaker 04 So I.
42:33 Caleb Hammer? On a card that is accruing interest?
42:35 Speaker 04 So I went and tried to get a personal loan and it was gonna be 23% interest.
42:40 Caleb Hammer? They weren't having a borrowing through the place that did LASIK opportunity?
42:43 Speaker 04 Um, and then I tried to get care credit and it was gonna be a 26% interest. And yeah, I think that one's 19.
42:50 Caleb Hammer? That's close. It's basically 17.
42:52 Speaker 04 Yeah.
42:52 Caleb Hammer? But or 18, but still 18%. Yeah, I mean, sure, it's better than 28 doesn't mean it's good. It's crazy. So why was LASIK such a critical need that we couldn't try to save up for this? Because I know you guys use a lot of money for the house. So obviously, we have the ability to put money towards it. And LASIK, for a lot of people, I would love to hear you defend it, is not a medical 100% necessity. I would love it. Do I need it? No. Sometimes running a business can feel a lot like juggling flaming swords. You got inflation, interest rates, and supply chain headaches flying at you, all while trying to stay ahead of the competition. So how do you keep it all together without losing your shirt?
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44:36 Speaker 04 I decided that it was a necessity for me.
44:38 Caleb Hammer? Okay, so it wasn't a necessity, correct?
44:39 Speaker 04 Because I, it cost me about $600 a year for my vision, between insurance and glasses, contacts, eye exam, all that. It was about $600 a year. And then I was terrible about taking out my contacts.
44:53 Caleb Hammer? Yeah, the interest on the card was $1,290 last year. So, um, a net, I think, few.
45:01 Speaker 04 Yeah, it's pretty bad. Uh, yeah, and I, I'm okay with that because.
45:06 Caleb Hammer? You're okay with that?
45:07 Speaker 04 Yeah, I mean, well, I'm picking it up now.
45:08 Caleb Hammer? Your justification was it was $600 a year, but they did it halfway sick.
45:12 Speaker 04 But I was so bad about taking.
45:15 Speaker 00 Honey, that flu keeping you up?
45:16 Speaker 01 Yeah, I don't got this.
45:18 Speaker 00 You need NyQuil Intense Flu.
45:20 Speaker 02 Undo your flu symptoms with NyQuil Intense Flu. The nighttime sniffling, aching, aching fever, best leave with a flu medicine. You do got this. Users directed, keep out of reach of children.
45:28 Speaker 04 Out my contacts and.
45:30 Caleb Hammer? Cool, wear glasses.
45:30 Speaker 04 And I could not wear, get, my glasses were going to be super expensive. I had to get the ones with astigmatism and.
45:36 Caleb Hammer? I have the ones with astigmatism, it wasn't that expensive.
45:39 Speaker 04 Mine were going to be a lot. I think it's worth it.
45:41 Caleb Hammer? What, what parts were going to be a lot?
45:43 Speaker 04 The lenses.
45:45 Caleb Hammer? Through who?
45:46 Speaker 04 My vision center.
45:47 Caleb Hammer? Why would you go through your vision center?
45:50 Speaker 04 Well, they were not through my, uh, insurance, but I only got like a hundred.
45:55 Caleb Hammer? To get the frame, buddy, you can get glasses from like a million different places. There's a bunch of glasses options like crazy.
46:01 Speaker 04 But it was the lenses that were expensive and they only covered 150 anyways.
46:04 Caleb Hammer? No, I'm, you think, do you think the place that measured your eyes are the ones that are creating the lenses to give to the places that you buy frames from?
46:14 Speaker 04 No, I know they send them off.
46:15 Caleb Hammer? Send them, what do you mean, send them off?
46:17 Speaker 04 They don't make the lenses and the, what are you talking about?
46:20 Caleb Hammer? What are you talking about? You could have used a budget friendly place, even Sam's Club.
46:26 Speaker 04 Okay, but still the lenses were going to be, or I'm sorry, I'm saying the lenses, I'm not meaning the lenses. I realize my error there. The, the, yeah, oh, am I saying the glass part?
46:37 Caleb Hammer? The lenses. How, how many places did you price shop them?
46:41 Speaker 04 I looked at, I can't remember the two online, but I looked at two online. And I've gone to two different vision centers in our town and we only have like three, so.
46:51 Speaker 04 I am okay with the, I know it's a lot of interest, I'm okay.
46:55 Caleb Hammer? I'm okay with you getting LASIK as well, highly encouraged, good job. That's not the thing we're fighting about. I'm just saying you have an eighteen percent debt on it with zero dollars invested in your future. And even if you did, even if you did, listen, I opened that, I opened my brokerage mu mu every single day. And I buy an S and P five hundred, guess what? It did great last year, but on average, it's doing ten percent. You're at a debt for LASIK, something you did in a hundred percent need for a medical emergency or necessity. You have that at eighteen percent. I am not against LASIK. I would encourage you to get LASIK. Good job. I would not be doing it at an eighteen percent debt because what? It cost me six hundred dollars a year for.
47:38 Caleb Hammer? Fine, you get expensive glasses, expensive glasses. These were a couple hundred bucks. So let's say yours would have been about six hundred.
47:46 Speaker 04 Right, yeah.
47:48 Caleb Hammer? Twelve hundred dollars a year in interest, a year on this.
47:53 Speaker 04 Yeah, but it was.
47:53 Caleb Hammer? So you, your math is broken. It's simply broken. Does this not make any sense, guys? Are the numbers not adding up?
48:02 Speaker 06 The numbers, what? What are they saying?
48:07 Speaker 04 I don't, I don't feel bad about that debt. I know.
48:09 Caleb Hammer? I'm not saying feel bad about the LASIK because the debt is absolutely stupid.
48:14 Speaker 04 And I, part of it was because of just headaches and everything and being bad about taking out my contacts.
48:19 Caleb Hammer? And glasses.
48:20 Speaker 04 And glasses would give me headaches at night. I can't see at night with glasses.
48:24 Caleb Hammer? You sleep with your eyes open?
48:25 Speaker 04 We're driving. Especially like in this time when it gets dark at four thirty.
48:30 Caleb Hammer? See what you're saying.
48:30 Speaker 04 And I cannot see at night. It gives me headaches. I tried.
48:33 Caleb Hammer? Glasses?
48:33 Speaker 04 Mm-hmm. Hair, like, it's awful. Um, and so I was wearing my contacts really bad, about taking them out. I was going into the eye doctor pretty consistently.
48:42 Caleb Hammer? Okay, okay, okay.
48:43 Speaker 04 Because of dry eyes, things like that, potential infections, potential holes in the back of the eye. I went ahead and did Lasix, and so I don't regret that at all.
48:49 Caleb Hammer? With the Lasix as well, the debt for it was horrendous.
48:52 Speaker 04 I am still okay with that percentage as opposed to potentially having to get eyes surgery later because.
48:57 Caleb Hammer? And if I talked to your doctor, he would a hundred percent say everything that you just said. You're not just using it as a way to get out of this little pushback.
49:05 Speaker 04 No.
49:09 Speaker 05 I've never had to deal with any of that, but if I had to do it, I'd get Lasix.
49:13 Caleb Hammer? No, but you know what she's dealt with. Is that a hundred percent accurate?
49:16 Speaker 05 Her doctor did say, hey, you should get Lasix for what it's worth.
49:19 Caleb Hammer? You should get Lasix.
49:20 Speaker 04 Yeah.
49:20 Speaker 05 He did say that.
49:21 Caleb Hammer? Okay.
49:21 Speaker 05 I'll, I'll go with that, but I would, I would get, I mean, if I had to pay a little bit of debt on there, I'd be fine with it for eyes.
49:28 Caleb Hammer? I'm okay with a little bit of debt again. It's, it's, we're talking about the kind of debt.
49:32 Speaker 04 I really didn't want to go the credit card route with putting it on there, and I probably could have waited a little bit longer. Um, and it was also before we moved in together, and I was doing really good about paying it until we moved in, and then my extra money started going towards house.
49:46 Caleb Hammer? A house that you work on and don't have any equity yet. That's stupid. That doesn't make any sense.
49:51 Speaker 04 Well, it was basically replacing my rent that I was paying in my apartment.
49:54 Caleb Hammer? It was, but now you're not making the progress on the credit card that you said you were before, so that.
49:59 Speaker 04 Yeah.
50:00 Caleb Hammer? So what, what are you talking about?
50:02 Speaker 04 Well, all of it. In my eyes, it was like all of my extra money needed to go to the house and I would just make.
50:06 Caleb Hammer? Instead of an eighteen percent loan.
50:09 Speaker 04 Yeah.
50:09 Caleb Hammer? On something that we all agree with that we're glad you got. But now we prioritize paying it off.
50:16 Speaker 04 I am trying to now. I haven't spent on it since October and.
50:20 Caleb Hammer? You're fucking spending on the card? You were spending on the card?
50:23 Speaker 04 Yeah.
50:24 Caleb Hammer? Oh, my. So it wasn't even just the, so it's just like, what am I, are you kidding me? That's completely different. You're spending on the card. Not anymore, you were. How much of this was LASIK for suspending of the nine thousand three hundred forty dollars and fifty cents?
50:40 Speaker 04 Fifty-five was LASIK.
50:42 Caleb Hammer? Oh, my. So why are we talking about LASIK here, lady? Half of it's not. Half of it's bullshit probably. Fuck your LASIK. That's not even what it was.
50:53 Speaker 04 A few of those were.
50:54 Caleb Hammer? Few of those double.
50:56 Speaker 04 No, a few of the charges on there were my CPA exams. I know I had put a few on there. And those are two hundred and sixty-ish.
51:03 Caleb Hammer? Dude, you make so much money. Why would that purchase have to be on a fucking credit card? That is your money's mismanagement. You're trying to make it sound like, oh, because I need it for my career. It's okay. No, you should have been able to cash flow this because you're actually making money. And that just speaks to your financial mismanagement. You make money. It's not a get out of jail free card because it was something that was good. Same with the LASIK. You could have actually afforded this. Five thousand dollar thing. You could have. You make good money. You fuck off your money.
51:31 Speaker 04 I don't know. I'd call.
51:35 Caleb Hammer? I would. I just saw a thousand dollars going out to eat and seven hundred fifty dollars in miscellaneous bullshit. So fuck off your fuck off your fuck off you.
51:43 Speaker 05 Yeah, I.
51:46 Speaker 05 I still, I mean. I didn't, I did not know it was up to nine thousand to be completely honest with you.
51:51 Caleb Hammer? Oh, but we talk about our money every day, guys. Every day we sit down, we talk about our money. Huh?
51:58 Speaker 04 I thought he knew about it.
52:00 Caleb Hammer? Well.
52:00 Speaker 04 He knew the LASIK was on it, um. And I thought we talked about it.
52:04 Speaker 05 I knew the LASIK was on it.
52:06 Caleb Hammer? We apparently think we talk about a lot of things, but apparently we talk about uh, nothing.
52:11 Caleb Hammer? Well, so far we've looked at, what?
52:14 Speaker 05 Two credit cards?
52:15 Caleb Hammer? And you guys did not know the things we talked about, so. Yeah, sure. Be defensive about that. That's literally inaccurate.
52:29 Speaker 05 Yeah, I maybe I guess so.
52:33 Caleb Hammer? Maybe I guess so. What, you think she's gonna beat you on the way home? What? You can't, you can't talk up and having a real opinion? You know I'm right. You didn't know the balance on this and she didn't know you're purchasing that other credit card. You don't know, guys.
52:47 Speaker 05 Yeah, I mean, I guess I don't, I really don't have room to talk on mine because, because I also have a shit credit card.
52:53 Caleb Hammer? I'm just acknowledge the fact that you guys do not know as much about your personal finances as you suggested you did.
53:00 Speaker 05 No, you're, we, we don't, we don't.
53:03 Caleb Hammer? He almost actually admitted it. Well, he did. He is more afraid of his wife, though. Future wife. Really? I don't know. He's pussyfooting like crazy. Okay, yeah, $1,200 in interest.
53:21 Caleb Hammer? Not all for the LASIK. Did you see the moment in the conversation where after you explained it, I was about to accept that, okay, fine, now let's just deal with this card. It was for LASIK, sounded like it was medically necessary. Did you see where I got there? Yeah, yeah, you almost had me. And then half of it was spent on bullshit.
53:39 Speaker 05 We're almost there.
53:41 Caleb Hammer? I know, but you led me to believe it was all for LASIK. It was misled.
53:45 Speaker 04 As you would say, you didn't ask.
53:47 Caleb Hammer? Because that's how adults do things. Okay, so what is this? Oh, AC, AC loan. Good, so we're not cash flowing the house, like.
53:56 Speaker 04 That's the only thing we.
53:58 Caleb Hammer? Pretty big thing. It's multi thousands of dollars. In fact, $3,526.24.
54:06 Speaker 04 That and the lumber. We didn't cash flow the lumber, but.
54:09 Caleb Hammer? All our extra money is going to a house that we're cash flowing.
54:12 Speaker 05 Original frame.
54:13 Speaker 04 The original frame of the house.
54:14 Caleb Hammer? I don't care what it is. It's not everything. You're not cash flowing this house. You're borrowing from multi parts of it.
54:20 Speaker 04 Now, we are cash flowing.
54:21 Caleb Hammer? Oh, thank goodness.
54:22 Speaker 05 Yeah, I'd say the original frame.
54:24 Caleb Hammer? Now we're cash flowing instead of paying for the debts that we used to start it.
54:28 Speaker 04 Our debts there a long time.
54:29 Caleb Hammer? Minimum monthly payment. It's not what I'm considering.
54:32 Speaker 05 Paying. I don't know. When, when you're living in a house that you have to, that you can't.
54:38 Caleb Hammer? You're living in two rooms.
54:39 Speaker 05 Yeah, exactly. Then you start just throwing all your money at something. Instead of paying on debt.
54:45 Caleb Hammer? So what do I do when I know I would make bad behavior if I get into a situation? I don't get myself into that situation. It's an interesting philosophy. Can't use it as an excuse. You did it to yourselves. That doesn't all of a sudden justify. So again, I don't think I said a hundred eighty seven dollars is the minimum monthly payment on the last one. Minimum monthly payment on this one is two hundred twenty eight dollars and fifty nine cents. The nine point five percent interest. So now it's like not even competing with the S and P five hundred.
55:17 Caleb Hammer? Sake. Certainly not on the land.
55:19 Speaker 05 I think that was the better interest rate we could get on it.
55:22 Speaker 04 Yeah.
55:23 Caleb Hammer? That does not mean it's good. I have to get the guys out of your head.
55:28 Speaker 05 It's a hundred degrees in Texas.
55:30 Speaker 04 Yeah, what would I don't know.
55:31 Caleb Hammer? You got yourself into this situation by choice.
55:34 Speaker 05 Sure, but I mean, it's gonna go into the full price of the house. You know, I mean, it's.
55:37 Caleb Hammer? Yeah, that you get a cash flow at zero percent interest. Now you have something that's ten percent interest. Put multi thousands on it, then you pay multi hundreds extra.
55:45 Speaker 05 I don't know. I.
55:47 Caleb Hammer? You don't know.
55:47 Speaker 05 It doesn't, it doesn't really add up when you look at it.
55:50 Caleb Hammer? It is literally adding up.
55:52 Speaker 05 You need an A C. You need an A C to live around here.
55:56 Caleb Hammer? By this situation you forced yourself and you're justifying it because you made a dumb decision.
56:00 Speaker 05 I don't know about a dumb decision.
56:02 Caleb Hammer? A dumb decision because now you have a nine percent loan on it, plus another multi percent loan on it, plus not paying your taxes, plus not being ready for your future taxes. Plus having two max out credit cards. Yeah, I'd say stupid.
56:16 Speaker 05 I I can't agree with you that. It's I think, you know, renting an apartment and then trying to do all this would have been stupid.
56:22 Caleb Hammer? That doesn't really make any sense. Uh, renting an apartment, you're not forced to make stupid financial choices to take out loans in order to deal with certain things of the apartment. When you live in the apartment, you have the landlord. When you live in the apartment, you can budget a little more accurately because you're not putting your extra money into these Lego pieces of a house. When you have an apartment, you have stability instead of this confusion that you have on.
56:43 Speaker 04 Twelve, thirteen, fourteen hundred dollars a month.
56:46 Caleb Hammer? Oh, we're not going into equity. Is that what we're about to say?
56:48 Speaker 05 It's not going to.
56:49 Caleb Hammer? Guess what? Your nine point five percent is going into equity for the fucking bank. What equity are you getting into your house? Two percent a year raised?
56:57 Speaker 05 At least it's my house.
56:58 Caleb Hammer? Hoping that people are going to want to buy it.
57:01 Speaker 05 I'm not really worried if someone else is gonna buy it.
57:03 Caleb Hammer? Then there's no point of the equity anyway, because then it's not even ever going to be realized. You don't even know what the equity is. Why are you caring about equity if you're never going to utilize it?
57:11 Speaker 05 I mean, it might, you know, at the end of the day, it's going to benefit me, or an apartment's just a place to live.
57:17 Caleb Hammer? Apartment would have benefited your financial situation because you would-
57:20 Speaker 04 I don't know about that, especially-
57:21 Speaker 05 I don't know.
57:22 Caleb Hammer? How much guys have you put into this house this last year?
57:25 Speaker 05 Um, maybe like thirty grand?
57:27 Caleb Hammer? Okay.
57:28 Speaker 04 Yeah, thirty.
57:29 Caleb Hammer? Yeah, an apartment would have benefited your financial situation.
57:31 Speaker 05 Yeah, I don't know about that one.
57:33 Caleb Hammer? Are you guys stupid? Do you not know how math is working? If you spent twelve thousand dollars a year on rent versus thirty thousand of the house? Yes, you have an equity position, but you wouldn't be owing the IRS!
57:43 Speaker 04 Wow, I think we still owe the IRS.
57:44 Caleb Hammer? You, the IRS comes first! They can take [BLEEP] with their guns!
57:49 Speaker 05 Yeah, they can take [BLEEP] after I don't pay for a while, but-
57:53 Caleb Hammer? The money you're putting into the house is gaining three percent a year on average! You have the debt that is accruing nine point five percent that you could have paid off if you were spending half your money on living! It's dumb! We all want property ownership! I [BLEEP] have it in my Hammer Financial Score, property ownership! That's how much I care about it. People rag on me all the time for that, I don't give a [BLEEP]. But guess what? Obviously, I give a [BLEEP] about that! Doesn't mean if you're doing it in a dumb [BLEEP] way, it's good. Property does not equal always good, no matter what! You can still do it in a stupid way, you're doing it in a stupid way! You're putting yourselves in situations where you're justifying a nine point five interest thing in order to stay a little cool?
58:38 Caleb Hammer? Yeah, when you're forced to justify that, yeah, you're doing it a little bit wrong!
58:42 Speaker 05 Yeah, I just-
58:44 Caleb Hammer? Yeah, I just disagree, yet you're not able to use any logic to justify that.
58:48 Speaker 05 You're saying twelve thousand dollars a [BLEEP] in year?
58:52 Caleb Hammer? Yeah.
58:52 Speaker 05 Twelve thousand dollars a [BLEEP] in year?
58:54 Caleb Hammer? Yeah.
58:55 Speaker 05 That's like, goddamn, that, that's [BLEEP] in half the house of the year that we spent.
59:00 Caleb Hammer? I get that, but it's not forcing you to put more money in other places. Also, you're taking care of your risk. You have so much risk on top of you. Debt equals risk, and you have a variety of debts, max out debts. That's that you're making no progress on other than minimum monthly payment debts.
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1:00:13 Caleb Hammer? Fuck, Home Depot, yeah, it makes sense. So what part of the house is this for, guys?
1:00:18 Speaker 05 Yeah, so this is gonna be the most diabolical debt right here, but um.
1:00:22 Caleb Hammer? Diabolical, hopefully.
1:00:23 Speaker 05 Yeah, now, so I use this, and I'm gonna go ahead and say I was recommended to use this.
1:00:30 Caleb Hammer? By who?
1:00:31 Speaker 05 By a friend of mine.
1:00:32 Caleb Hammer? Ah, yes.
1:00:33 Speaker 05 Yeah, so I'll get into that one. So I use that to get the original frame because you have to put it all up at one time. So it's just a frame.
1:00:44 Speaker 05 And uh.
1:00:44 Caleb Hammer? It's just telling me you couldn't afford to do this project.
1:00:49 Speaker 04 I don't know, I don't really see what the difference in what we're doing, though, than someone going and taking out a $200,000 loan to buy a house.
1:00:56 Caleb Hammer? I'll tell you exactly what it is.
1:00:57 Speaker 04 Okay, yes, Thomas.
1:00:58 Caleb Hammer? I'll tell you exactly what it is. Someone does that, and they borrowed 5%. You're borrowing this at 30%?
1:01:06 Speaker 05 Yeah.
1:01:06 Caleb Hammer? What the you think is different between 5 and 30? Come on, it's the dumbest thing I've ever heard. Go on, continue your story.
1:01:12 Speaker 05 So, yeah, I mean, there's 0% APR for six months. And when you sign up for it, you really think you're gonna get it in six months, and then you do.
1:01:19 Caleb Hammer? Because we have to justify every single purchase we're ever doing, spending a thousand hours going out to eat, having to get AC, having to do all these other things, because we put ourselves in a situation that's uncomfortable, so we have to do extra things in order to make it comfortable. Go for it.
1:01:30 Speaker 05 So that's pretty much how I got there. I didn't pay um.
1:01:35 Speaker 05 I didn't, I didn't, I didn't even get close to paying it off for in six months.
1:01:39 Caleb Hammer? Oh, interesting. How'd that happen? Oh, that's curious. We're all shocked. We're all stunned.
1:01:48 Speaker 05 Yeah, that was, uh, that was, yeah, I, I wouldn't recommend that to anyone to get a Home Depot credit card because you're not going to pay it off.
1:01:56 Caleb Hammer? Yeah, it is how you are doing it. Uh, okay, $5,112.90, $188 minimum payment, $1800 of interest accrued last year, 30% interest rate. This is.
1:02:09 Speaker 05 Yeah, that one's disgusting. I, it's.
1:02:12 Speaker 04 Yeah, I.
1:02:13 Caleb Hammer? We had to frame our new little house.
1:02:17 Speaker 05 Yeah.
1:02:18 Caleb Hammer? Guys could have done this a good way. You could have gone on a home building mortgage. You could have just done this in a smart.
1:02:25 Speaker 04 I think, um, had this, had he had not started this before we got together, I think things would have gone a little bit differently. Um, but it did start, it started well before, um, and.
1:02:36 Caleb Hammer? But how, you started this how many years ago? Cause you got the land for, but.
1:02:40 Speaker 05 Yeah, I got the land and I put a well on it, septic, electric, and then did the piers and then.
1:02:46 Speaker 04 He started the actual house about three months before we met. Um, so he already, yeah, he didn't do a package on the.
1:02:53 Caleb Hammer? You know, we're allowed to change directions sometimes if our life changes and your life has changed.
1:02:58 Speaker 05 Yeah, this one.
1:02:59 Caleb Hammer? That being said, she seems to be very supportive of this, so.
1:03:02 Speaker 05 I genuinely have no idea what I'm gonna do with this one because it's, I can't pay the minimum. It's.
1:03:07 Caleb Hammer? Can't pay the minimum? What do you mean? It's $188.
1:03:08 Speaker 05 No, I can pay the minimum, but it's, it's, it just, it doesn't make a dent at all.
1:03:13 Caleb Hammer? It makes a little, but yeah.
1:03:14 Speaker 05 It doesn't seem like.
1:03:15 Caleb Hammer? It's gonna take a long time. How long do you think it takes to pay off?
1:03:17 Speaker 05 I think it's 20 years to pay this thing off.
1:03:19 Caleb Hammer? It's just about 20 years.
1:03:20 Speaker 05 But it's like, I pay the minimum and it just keeps going over 5,000, even when I get it under, it just doesn't.
1:03:26 Caleb Hammer? Oh, is 5,000 the limit?
1:03:27 Speaker 05 Yeah.
1:03:28 Caleb Hammer? Yeah, you've, you had some fees last year. Yeah.
1:03:31 Speaker 05 I guess a home building loan might have been the way to go with that one. Uh,
1:03:35 Speaker 04 but here we are.
1:03:35 Speaker 05 At the time, it seemed like a good idea with a 0% APR for six months, but it just never came around to being, it, it fucked me. I mean, I, I can't grow much too much on that.
1:03:48 Caleb Hammer? Let's keep looking. Okay, what do we got here? What is this? This looks like, okay, so this is another loan.
1:03:55 Speaker 04 I think this is your truck. The twelve.
1:03:57 Caleb Hammer? Nine point two five percent. This is just a truck. What is this? It's twelve thousand eight hundred nineteen dollars and eighty six cents.
1:04:03 Speaker 05 I think that's the well loan. I believe that.
1:04:05 Caleb Hammer? Oh my gosh, you didn't cash flow in any of this?
1:04:08 Speaker 05 Well, well, it's thirty grand.
1:04:10 Caleb Hammer? Yes, but you're getting yourself into a position where you're forced to borrow. That is not necessarily a good thing. We do these big things that can be good when we're able to do them in a good way.
1:04:20 Speaker 05 I did get done the well. I'll, I'll say that.
1:04:23 Caleb Hammer? All of this, man? None of this has been good so far.
1:04:27 Speaker 05 I actually paid half of it.
1:04:29 Caleb Hammer? I see you're at twelve thousand eight hundred nineteen, but it's still at nine point two five percent.
1:04:35 Speaker 05 I originally was quoted twenty grand for a well, which is fair. And then this company ragged me around for like seven months saying, oh yeah, we'll get to it. We'll get to it. We'll get to it. And then COVID happened and they're like, oh yeah, now it's gonna be thirty grand. And I'm like, all right, you. So I went to another well company. And then they, they were the same price anyways. It was twenty nine. So I gave him ten grand and then.
1:05:00 Caleb Hammer? Ah, fuck.
1:05:01 Speaker 05 So it was.
1:05:02 Caleb Hammer? You gave him ten down.
1:05:04 Speaker 05 I gave him ten and then I got a loan for the rest.
1:05:06 Caleb Hammer? So this is sitting, been sitting for about four years. Okay, maturity date's twenty twenty eighth. This is taking forever. Thousand four hundred hours of interest accrued last year. This is the well, okay? Your minimum monthly is four hundred sixty nine. Now this starts to stack. This starts to stack here, man.
1:05:27 Caleb Hammer? That's where I start feeling the minimum payments. When you see a four hundred sixty nine dollar minimum payment on a well.
1:05:34 Speaker 05 Yeah, I mean.
1:05:36 Caleb Hammer? Guess what? I'm, I'm gonna let you in on a little thing. You don't have to borrow twenty thousand dollars when you live in an apartment for water. Okay, now what is this ten thousand nine hundred eighty-two dollar loan?
1:05:47 Speaker 05 So that's my truck.
1:05:48 Caleb Hammer? Okay, does this truck run?
1:05:50 Speaker 05 Yes, I don't, I don't owe on any of the things that don't run.
1:05:53 Caleb Hammer? Thank, okay, what is the truck?
1:05:55 Speaker 05 It's a two thousand nine Chevy fifteen hundred.
1:05:58 Caleb Hammer? Nine thousand two hundred dollars is what it's valued at, so a little underwater, but not dramatically. This is a couple thousand bucks essentially. But yeah, this again, the minimum monthly payments is where they start to stack up dramatically. Three hundred thirty-nine dollars and sixty-eight cents. That's ten percent interest. The ten percent, don't tell me this is, this is one of the better ones that we could have got.
1:06:20 Speaker 05 It is, I mean.
1:06:21 Caleb Hammer? That doesn't mean it's good. When did you get this?
1:06:24 Speaker 05 Um.
1:06:25 Speaker 04 It's been a little over a year now.
1:06:26 Caleb Hammer? Yeah, rates were not good.
1:06:27 Speaker 04 Yeah.
1:06:28 Caleb Hammer? Why'd you have to go borrow for this? Okay, you know, this is the interesting thing is you guys have gotten yourself into the situation that we already know about where you're forced to borrow for all these different things, making your minimum to payments absolutely brutal. But the thing is, if you guys actually cash flowed some of the things, lived in an apartment, you would be buying this truck in cash. You'd be doing all these things and then you'd save for a couple of years, you'd do this house in cash. All this stuff, if you just did it properly, you're delaying the entire process and longevity of actually paying for it by a decade, if not more. This is brutal, man. Maturity date's twenty twenty-eight again.
1:06:57 Speaker 05 Gosh. Yeah, I mean, I had a cash flowed truck.
1:07:00 Caleb Hammer? Um. It's the one that broke?
1:07:02 Speaker 05 Yeah, and they just keep.
1:07:03 Caleb Hammer? Why didn't you have an emergency fund? A property without an emergency fund, that's.
1:07:08 Speaker 04 We've talked about this, he, yeah, we need to get.
1:07:11 Caleb Hammer? I'm glad you guys have talked about it, why haven't you done anything?
1:07:13 Speaker 04 Well, I, I've started back up my savings. I have a decent amount, but.
1:07:16 Caleb Hammer? What, what do you have?
1:07:17 Speaker 04 Well, no, I'm sorry, I did have a decent amount, um.
1:07:20 Caleb Hammer? Where to go? What did you have?
1:07:22 Speaker 04 I was almost at fifteen thousand.
1:07:24 Caleb Hammer? Oh, where to go?
1:07:25 Speaker 04 Most of it went to the house.
1:07:27 Caleb Hammer? Ah? Because after the interest that accrues on all this, whatever equity position you had, I mean, it's just, it's, it'll be eaten up anyway. A lot of it through just the interest. Oh, guys, and you?
1:07:39 Speaker 05 Yeah, no, I don't have.
1:07:40 Caleb Hammer? Oh, well, have you learned your lesson because you had to get another fucking truck and borrow ten percent for, okay. Great, I see another little special thing. Seventeen thousand this time. What is this seventeen thousand eight dollars and fifty cents?
1:07:51 Speaker 04 That's my car.
1:07:52 Caleb Hammer? Oh, what kind of car do you have?
1:07:54 Speaker 04 Twenty eighteen Jeep Compass.
1:07:55 Caleb Hammer? Oh, it's a Jeep.
1:07:58 Speaker 04 I like it.
1:07:59 Caleb Hammer? You like it?
1:08:01 Speaker 04 Well, it's not a Jeep.
1:08:02 Caleb Hammer? It's not insanely reliable for a long time.
1:08:05 Speaker 04 I think it's been pretty good. I've had, um.
1:08:06 Caleb Hammer? Pretty good. You've had it since?
1:08:08 Speaker 04 I've had it for almost four years.
1:08:10 Caleb Hammer? Okay. How many miles are on it?
1:08:12 Speaker 04 Seventy.
1:08:12 Caleb Hammer? Yeah.
1:08:13 Speaker 04 I'm on, I know I'm under on it.
1:08:15 Caleb Hammer? You're under on it by five thousand dollars. It's worth twelve.
1:08:19 Caleb Hammer? At least it's at a four point seven five percent interest rate.
1:08:22 Speaker 04 Yeah.
1:08:22 Caleb Hammer? That's the first like interest rate where I'm not vomiting at today. Four hundred sixty dollar minimum payment, though. There's, there's just the other stack and the pyramid. This is getting brutal at this point. These minimum monthly, this is rough.
1:08:34 Speaker 04 I forgot my, my whole savings did not go to the house. Half of it went to this car.
1:08:39 Caleb Hammer? So before?
1:08:40 Speaker 04 Yeah.
1:08:41 Caleb Hammer? And it's still underwater by five?
1:08:44 Speaker 04 Yeah.
1:08:45 Caleb Hammer? Oh, oh, fuck.
1:08:49 Speaker 04 The my last car, the turbo went out on it and it was gonna be too expensive to.
1:08:54 Caleb Hammer? Oh, after half your savings, it's still underwater by five. This is, man, you got this car four years ago. So you got this during the car fucking just crisis of price.
1:09:04 Speaker 04 Yeah.
1:09:05 Caleb Hammer? Oh.
1:09:09 Speaker 04 Yeah, there was, I couldn't find any used cars that were reliable in our area. Um, this was the first one.
1:09:15 Caleb Hammer? Twenty eight maturity. So you have an eight year loan on this thing.
1:09:19 Speaker 04 No, it was six.
1:09:22 Speaker 04 Three, okay, maybe I got it three years ago. Sorry.
1:09:28 Speaker 04 It was, it was absolutely a six year.
1:09:30 Caleb Hammer? Okay.
1:09:30 Speaker 04 Which I know is really high, but it was.
1:09:32 Caleb Hammer? Yeah, not great.
1:09:33 Speaker 04 Yeah, I am positive it was a six year though then.
1:09:35 Caleb Hammer? You know the rule? You don't know the rule.
1:09:38 Speaker 04 Third of your income.
1:09:40 Caleb Hammer? A third of your income?
1:09:41 Speaker 04 Don't go over a third.
1:09:42 Caleb Hammer? For a car?
1:09:44 Speaker 04 That's what I've always heard.
1:09:45 Caleb Hammer? Who told you that?
1:09:46 Speaker 04 Is that not what you've always heard too?
1:09:48 Caleb Hammer? Who told you that possibly? It's the most American thing I've ever heard in my fucking life. Who told you that?
1:09:54 Speaker 04 I've heard it.
1:09:57 Caleb Hammer? Brian about the money guys, that's who we trust, that's who we trust. They, they talk to the people that are a step beyond yours. Uh, you'll get there eventually, you know, we talked to the bottom dwellers of finances, the ones who are at the, you know, the zero to, zero to three financial score. They got the, the five to seven financial score. Uh, they say no longer than three year term. Yeah, you broke that by two. No more than eight percent of your gross income on a monthly basis and 20% down minimum. That's when a car loan is considered relatively affordable.
1:10:34 Speaker 04 I
1:10:34 Caleb Hammer? Yeah, you broke that rule by multiple.
1:10:38 Speaker 04 Well, I'm gonna blame my parents on that one.
1:10:40 Caleb Hammer? Well, yeah, don't listen to people that don't know anything and aren't good with money.
1:10:46 Speaker 04 Yeah.
1:10:47 Caleb Hammer? It's usually, and it's another crazy philosophy. Student loans, that I sniff student loans on you.
1:10:52 Speaker 04 That's me.
1:10:53 Caleb Hammer? So this is for the accounting degree?
1:10:55 Speaker 04 Uh, bachelor's and masters, yes.
1:10:57 Caleb Hammer? Oh my gosh, thirty one thousand. It's a lot, it's
1:11:00 Speaker 04 It's, I'm in forbearance right now until March.
1:11:02 Caleb Hammer? Why?
1:11:03 Speaker 04 I honestly have no idea and I've called them.
1:11:05 Caleb Hammer? What were you in? What were you, were you into like a payment plug?
1:11:07 Speaker 04 Yeah, I was in the, uh,
1:11:09 Caleb Hammer? PSFL?
1:11:09 Speaker 04 Yeah, they're the
1:11:11 Caleb Hammer? Or save?
1:11:12 Speaker 04 Save, yes.
1:11:12 Caleb Hammer? You were in save, it's cause it's being challenged in court, but guess what? I'm not a crystal ball person. It's not looking good though for the save, especially with the new administration. So you're likely gonna have, what was your minimum to payment previously?
1:11:23 Speaker 04 Hundred fifteen.
1:11:24 Caleb Hammer? No, what about before save?
1:11:27 Speaker 04 I
1:11:28 Caleb Hammer? Your minimum payment is gonna be about four hundred bucks.
1:11:30 Speaker 04 Um, so in March it restarts about, at about a hundred and then in November it goes up to three fifty.
1:11:36 Caleb Hammer? I'll put it at a hundred for now. November, okay, I'll put it at a hundred for now. I think, um, I don't think things look good for this loan. I'll be honest.
1:11:46 Speaker 04 For the save?
1:11:46 Caleb Hammer? Yeah.
1:11:48 Speaker 04 Yeah, um.
1:11:49 Caleb Hammer? Things are looking good.
1:11:50 Speaker 04 Yeah, I don't
1:11:51 Caleb Hammer? Let me see if there's been a status update. I haven't followed the news around that one specifically. I'm curious. It's still currently suspended on legal challenges, cause yeah, August twenty twenty four, Eighth Circuit Court of Appeals issued an injunction blocking the implementation of the safe plan. Then included provisions for lower monthly payments and interest and subsidies. United States Supreme Court declined to lift this injunction, leaving the plan on hold as litigation continues. Wow, that does not look good for you. Okay, I'd be prepared for something chunky.
1:12:20 Speaker 04 I wasn't gonna start.
1:12:21 Caleb Hammer? Yeah, sorry, go ahead.
1:12:22 Speaker 04 I was gonna, I, my plan was, you know, assuming that I don't screw myself in other areas, but it's to put the three, the extra, so do two fifty basically into my savings. So that whenever November rolls around, I make sure that I have backup in there.
1:12:37 Caleb Hammer? Backup, why don't you just budget properly once it's, I'm good with an emergency fund, but why not just?
1:12:41 Speaker 04 I want to be able to just pay the three fifty, four hundred, I think it was a little over three fifty. About it, I want to, um, but I want to have that just, just in case. So I'm gonna start acting like I need to pay three fifty now.
1:12:52 Caleb Hammer? Okay, I see what you're saying.
1:12:53 Speaker 04 Yeah.
1:12:55 Caleb Hammer? I would rather that extra three fifty go to a seventeen, eighteen percent credit card, but I see what you're saying. Well, we'll talk about that at the end. Okay, what is this, what is this now? This, this must be the lot loan.
1:13:06 Speaker 05 Yeah, this is a mortgage on.
1:13:08 Caleb Hammer? The lot on the land.
1:13:09 Speaker 04 Yeah.
1:13:10 Caleb Hammer? Okay, it's a five percent, so that's fine.
1:13:15 Caleb Hammer? Eighty-two thousand, two hundred, two dollars and sixty-five cents. Minimum three payment, eight fifteen, not much to say there.
1:13:22 Speaker 05 The coins.
1:13:22 Caleb Hammer? What is this?
1:13:23 Speaker 05 That's the coins.
1:13:24 Caleb Hammer? Huh?
1:13:25 Speaker 05 McCoy's credit card, it's like.
1:13:26 Caleb Hammer? It's a McCoy.
1:13:26 Speaker 04 Lumber.
1:13:28 Speaker 05 Oh, it was.
1:13:28 Speaker 04 It's a lumber store, it's not like just lumber.
1:13:30 Speaker 05 That was for plumbing.
1:13:34 Caleb Hammer? What? I feel like I'm missing the first page of this, I may have this up, but I'm seeing a thousand seven hundred and sixty-eight dollars and sixty-six cents, okay, lumber.
1:13:46 Speaker 05 Was actually, uh, we can call it a hardware store, but.
1:13:50 Caleb Hammer? Huge lumber. What is the minimum three payment on this?
1:13:53 Speaker 05 Pretty low, um, maybe eighty?
1:13:56 Speaker 04 Yeah.
1:13:56 Caleb Hammer? Okay.
1:13:57 Speaker 05 That's one of those ones that, uh, it depends on what's the balance is.
1:14:02 Caleb Hammer? Why so many fees? Two hundred and twenty-one dollars of fees last year, what are we doing? Were we late ever? Were we, oh, what was happening?
1:14:08 Speaker 04 Been late.
1:14:08 Speaker 05 I don't, honestly, I.
1:14:10 Caleb Hammer? Would you honestly know? Based on this conversation so far, I think you would know.
1:14:13 Speaker 04 Uh, all of that is set up on auto draft.
1:14:15 Caleb Hammer? Yeah, but what if there wasn't enough money in this account where it came from at the time we tried to draft?
1:14:19 Speaker 04 Checking and we, there's always money in there, I check that religiously.
1:14:21 Caleb Hammer? Does this have a kind of fees added to it on a monthly basis?
1:14:25 Speaker 05 I don't.
1:14:25 Caleb Hammer? Yeah, no, no, here we go, look, fees added this last month, twenty-two dollars.
1:14:30 Caleb Hammer? Dude, this is a brutal card. That plus the interest, dude, this card's brutal.
1:14:38 Caleb Hammer? The fee, payment, yeah, security fee, this is insane, dude. That's plus the thirty-four percent. Oh, okay, most of it's a thirty percent. Even so, there is a thirty-four percent option in there for a few bucks. This card is that is a card. Cindy, is there any other debt here?
1:14:57 Speaker 05 Uh, what do you mean, in my coins?
1:15:00 Caleb Hammer? That you guys have?
1:15:01 Speaker 04 That's everything.
1:15:02 Speaker 05 I think it's Apple.
1:15:04 Caleb Hammer? Okay, we're about to go into the checking account, guys. When you get home, it's not an option. Again, you're downloading the app before you leave here, the simpler budget app. When you get home, start taking the budgeting class together. Go through the classes, go through the quizzes. Take the debt class together. You guys utilize debt every single second of your life. Learn through the quizzes what is actually good debt and bad debt. I walk, I walk with you, holding your hand every step of the way.
1:15:30 Speaker 07 Imagine building an app with your name on it. With Base44, describe what you want and watch it take shape. You can plan, customize, and expand in any direction. From passion projects to enterprise-grade systems, everything is built in and ready to launch. No matter what you're building, any builder needs Base44. Go to base44.com.
1:15:59 Caleb Hammer? And then take the investing one, because you're gonna eventually have to start investing, and we'll define your profile. Take all three classes. Please, together with the quizzes, everything, it has changed over ten thousand people's lives. You guys get it for fifteen percent off, wink, but come on. Uh, okay, KCFCU. Is this joint or who's this it?
1:16:18 Speaker 05 That would be mine.
1:16:19 Caleb Hammer? Okay, Dr. Pepper, Dr. Pepper, Spotify, Dr. Pepper, Dr. Pepper, Dr. Pepper, Mexican, Bar and Grill, Mexican, Dr. Pepper, IHOP.
1:16:30 Speaker 05 IHOP.
1:16:32 Caleb Hammer? Tavern, Dr. Pepper, Dr. Pepper, Mint, Dr. Pepper, Dr. Pepper.
1:16:42 Speaker 05 Oh, I'm sorry.
1:16:42 Caleb Hammer? Venwing out money. Twin Peaks. Dude's looking at some tits.
1:16:47 Speaker 05 Dude, are you serious? Someone must have my car because I don't go to fucking IHOP.
1:16:51 Speaker 04 This isn't a joke.
1:16:52 Caleb Hammer? This is, this, it's not a joke, but this is your statement from.
1:16:55 Speaker 05 I've never been to Happy Cow Bar and Grill.
1:16:57 Caleb Hammer? Yes, you have.
1:16:57 Speaker 05 Oh, this is 2023.
1:16:58 Caleb Hammer? Exactly. I was just gonna say, this is your 2023, but guess what? We had your 2024, we decided to keep this anyway because your spending is the exact same. Couple of different locations, but your spending is the exact same. And I know you'd be looking at them titties a year ago.
1:17:13 Speaker 04 Yeah.
1:17:15 Caleb Hammer? Dr. Pepper, Dr. Pepper, Dr. Pepper. Yeah, this has not changed. Other than the titties, like the spending is the exact same today. Titties, or sorry, Dr. Pepper, Dr. Pepper, Dr. Pepper, Dr. Pepper, Dr. Pepper, Dr. Pepper. This is crazy, dude. Dr. Pepper, Dr. Pepper, Dr. Pepper.
1:17:28 Speaker 04 It is a problem.
1:17:29 Caleb Hammer? Amazon, that was a year ago. I'll have to look at that. Uh, Dr. Pepper, Dr. Pepper, Applebell, Toucan, Jims, tacos, Dr. Pepper. Beer, beer, Dr. Pepper, overdraft fee. Hopefully that's different these days.
1:17:45 Speaker 05 Just being a king out there.
1:17:47 Caleb Hammer? Yeah, Mexican, Toucan, Dr. Pepper, Dr. Pepper, Dr. Pepper, Blizzard. Uh, Ananen, Toucan, Jims, Mexican, Mexican. Dr. Pepper, Dr. Pepper, Dr. Pepper, Dr. Pepper, Whataburger, Dr. Pepper, Dr. Pepper, Hulu. Oh, Dos Amigos, Dr. Pepper. Okay, that was brutal.
1:18:07 Speaker 05 Yeah, that, it's, it's.
1:18:10 Caleb Hammer? Crazy. And it's, it's, the reason we did that is just to show him that nothing has changed. Other than, yeah, they're not all going to boobs. But it is the same spending today. It was like literally the exact same. So the math did not change. It was like a few bucks or something. It's crazy, man.
1:18:26 Speaker 04 We've had discussions about the gas station.
1:18:29 Caleb Hammer? Good. We had discussions. Why has nothing been done? Why have you not listened to your future wife? What's happening? Come on, Dr. Pepper.
1:18:35 Speaker 05 I have decreased the size of the Dr. Pepper.
1:18:38 Caleb Hammer? Oh, the literal size.
1:18:40 Speaker 04 The literal size.
1:18:41 Speaker 05 The literal size. Now, the amount, nah, has not changed.
1:18:44 Caleb Hammer? Why? It's not good for you either.
1:18:45 Speaker 04 Yeah, that's my biggest thing.
1:18:47 Speaker 05 Yeah. Well, I, I use it like an energy drink, really.
1:18:51 Caleb Hammer? It's also not good for you. Why not brewing coffee at home on the cheap?
1:18:55 Speaker 04 We don't have a kitchen, so we don't have a coffee.
1:18:57 Caleb Hammer? I guess that's still not an excuse. Set yourself up for great success with this house, obviously.
1:19:01 Speaker 05 I don't know. I just, you know, sweet treat, man. I can.
1:19:04 Caleb Hammer? You're sweet treat. You're, dude.
1:19:05 Speaker 04 Two, three, four times a day.
1:19:07 Caleb Hammer? What are you, a little teenage girl? I'm so confused.
1:19:11 Speaker 05 You know, midday Dr. Pepper, you know, get you going for the day.
1:19:16 Caleb Hammer? Are you going to stop? What can we do to get him to stop? You know him. This is so much money, so much money. What can you do?
1:19:25 Speaker 04 I think we need to find an alternative energy source for him.
1:19:29 Caleb Hammer? Yeah, brewing coffee. You have an outlet. You don't need a kitchen for a coffee maker.
1:19:34 Speaker 04 I mean.
1:19:34 Caleb Hammer? Are you connected to the electricity?
1:19:36 Speaker 05 Yeah.
1:19:36 Caleb Hammer? Congratulations. Make coffee for sake.
1:19:40 Speaker 04 I don't honestly know. I mean, I think it's just gonna be his willpower that's gonna make him stop cuz I don't know.
1:19:45 Caleb Hammer? If you're not willing to stop for your wife or your future kids or for your own future, like, this conversation's done. It's Dr. Pepper, dude. We're not giving up the biggest things in the world here.
1:19:54 Speaker 05 Yeah.
1:19:55 Caleb Hammer? Be a man!
1:19:57 Speaker 05 I could try coffee, but.
1:19:59 Caleb Hammer? Do you like coffee?
1:20:00 Speaker 05 It's alright. You know, on ice. It's about the only way I like it.
1:20:03 Speaker 04 There's the little teenage girl thing again. Coffee and ice.
1:20:06 Speaker 05 Well, I don't put anything else in there. It's just black coffee and ice.
1:20:11 Caleb Hammer? Ninety-five dollars ending balance on this Wells Fargo. Which one is this? Hobby Lobby, Sally Beauty, oh, Hobby Lobby, Mary Taco, Water Burger, Rockin' Rita's, Music Center, Texan Cooks. You also stop everywhere like crazy, so don't get on his ass about it. Get on each other's ass. Keep each other accountable. Cook food. Meal prep. Wait, how do you guys cook?
1:20:33 Speaker 04 Um, I cook on an air fryer and a microwave.
1:20:37 Speaker 05 We also have the little.
1:20:38 Speaker 04 Oh, and a single burner skillet.
1:20:41 Caleb Hammer? I'm gonna call this Dr. Pepper feud. Stopping in and getting some bullshit chilies. Dr. Pepper, Raising Cane's, Dr. Pepper, Dr. Pepper, Russland Rob's, Hobby Lobby, Dr. Pepper, Dr. Pepper, Fredericksburg Brewery or something, Daily Donuts. Please don't. Dutch Bros, Chick-fil-A, Big Lots. Who the, those the Big Lots?
1:21:03 Speaker 04 I love Big Lots and it's closing down and I'm really sad about it.
1:21:05 Caleb Hammer? Good. So you can't spend there. Vintage Stock. Oh, Dr. Pepper. What a joke. Okay, what's this?
1:21:15 Speaker 05 I think that might be my twenty four Kirk County.
1:21:19 Caleb Hammer? Oh, yeah, it's the exact same. Which one went to the math, Jake?
1:21:24 Caleb Hammer? Oh, so the math, the math that I called out at the beginning was your twenty twenty four stuff wasn't even including the twenty twenty three. So it's like, yes, your math is beyond, your math is beyond, guess what? It's the same exact stuff. There's blizzards, there's Dr. Pepper, Taco Casa. It's the same exact stuff we already called out.
1:21:38 Speaker 04 Blizzard isn't blizzards. Blizzard is actually wow. Yeah.
1:21:41 Caleb Hammer? Yes, I know.
1:21:42 Speaker 04 Okay, I thought you were saying Blizzard's like ice cream.
1:21:44 Caleb Hammer? They would say Dairy Queen if it was. Spotify, Dr. Pepper's everywhere, Apple bill, pop stroke. It's the same exact bullshit. Multi pages, stupid spending, dumbest thing in the entire life. Again, nine hundred like fifty ish going out to eat, seven hundred fifty on miscellaneous bullshit. It's stupid, just no tits. Thousand dollars in this account. What's this? Wells Fargo. This has so many accounts. This is fucking crazy. Roth IRA three thousand, who's that?
1:22:09 Speaker 04 Me.
1:22:10 Caleb Hammer? So you do have retirement.
1:22:11 Speaker 04 Yeah, but it's so minimal.
1:22:13 Caleb Hammer? Yeah, it is so minimal, but and then twenty two thousand in your thing. Okay.
1:22:20 Caleb Hammer? It's a big mountain.
1:22:23 Speaker 04 I do think we have too many accounts open, but I don't really know how. I don't know how we consolidated at this point.
1:22:29 Caleb Hammer? Well, it's can start putting the auto pays on other accounts, you direct deposits into certain accounts, close the other accounts, sit down for a day, grind it out. Some of this just takes a little bit of work. Nothing's wrong with that.
1:22:41 Caleb Hammer? Maybe instead of putting insulation in a house that day and borrowing for it.
1:22:47 Caleb Hammer? Okay, total household income that hits on a net monthly basis, eight thousand four hundred. Okay, okay, let's get.
1:22:57 Caleb Hammer? Let's do the land as the mortgage of eight fifteen thirty eight. Utilities, costs.
1:23:04 Speaker 04 Water is included in our well. Um, phone is one forty, electric.
1:23:09 Caleb Hammer? Phone's one forty?
1:23:11 Speaker 05 Um, that might be a different type of utility.
1:23:14 Speaker 04 Oh, sorry.
1:23:15 Speaker 05 That that's our AT&T bill, but.
1:23:17 Caleb Hammer? Well, hold on. What's your? Okay, what's internet?
1:23:19 Speaker 05 Internet and electrical is the same, and that one's gonna be one sixty a month.
1:23:23 Caleb Hammer? Okay.
1:23:24 Speaker 05 For internet and electrical.
1:23:26 Caleb Hammer? Okay, is there gas?
1:23:27 Speaker 05 No.
1:23:28 Caleb Hammer? Okay. Phone bill, what's your phone bill?
1:23:31 Speaker 04 One forty.
1:23:32 Caleb Hammer? One forty, okay. You can do helium if T-Mobile works out there. I'm not sure for the rural areas. T-Mobile doesn't work?
1:23:40 Speaker 04 No, I had it before we got.
1:23:42 Caleb Hammer? Damn, that sucks because you could have done forty bucks with both of you combined. That would have been great. Okay, gas, vroom vroom, drive, drive. How much combined?
1:23:53 Speaker 05 I'd probably fill up.
1:23:56 Speaker 04 I'm gonna say four hundred for both of us. We have to drive.
1:23:59 Caleb Hammer? This is true?
1:24:01 Speaker 05 I probably fill up once a week, sixty times four, you know, two hundred forty. And then her car is super cheap. So yeah, four hundred bucks a month.
1:24:10 Caleb Hammer? Okay, car insurances?
1:24:13 Speaker 05 I pay two sixty-nine.
1:24:15 Caleb Hammer? You?
1:24:16 Speaker 04 Two hundred.
1:24:18 Caleb Hammer? We're gonna start doing this like a joint house because we're preparing for that. Okay, so four sixty-nine.
1:24:25 Caleb Hammer? Okay, medical, healthcare, any ongoing expenses other than the insurance that gets taken out pre?
1:24:29 Speaker 04 Mine is not taken out.
1:24:31 Caleb Hammer? Okay, how much?
1:24:31 Speaker 04 Mine, three thirty-five.
1:24:33 Caleb Hammer? Cool, and then, copay is anything? Okay, three thirty-nine.
1:24:39 Caleb Hammer? Uh, any pets?
1:24:40 Speaker 05 One.
1:24:42 Caleb Hammer? Age, health?
1:24:43 Speaker 04 She's.
1:24:44 Speaker 05 Four.
1:24:45 Caleb Hammer? Pet food? How much?
1:24:47 Speaker 05 I get.
1:24:48 Speaker 04 Almost nothing. Fifty bucks a month, maybe?
1:24:51 Speaker 05 Yeah.
1:24:52 Speaker 04 We get it. His mom owns a pet store and we get.
1:24:54 Caleb Hammer? Oh, that's really cool.
1:24:55 Speaker 04 Discounted.
1:24:56 Caleb Hammer? You have pet insurance?
1:24:57 Speaker 04 No.
1:24:57 Caleb Hammer? You have pet insurance, forty bucks a month.
1:25:01 Caleb Hammer? If you can't afford it, you can't afford a pet because you're not gonna let it die if something happens. TP fund, anything else you guys need to survive? There's makeup, there's toilet papers, whatever, a hundred fifty bucks. Groceries, we can do about five hundred. Use our cookbook that comes with the app, guys. Use the cookbook. Okay, your debt payments is what we need to add up. And while I am, is there anything else that needs to be in the budget that I have not included? Gym?
1:25:24 Speaker 04 Child support. Oh, no, I'm sorry, that's before.
1:25:26 Caleb Hammer? Yeah, that's pre.
1:25:28 Speaker 05 Yeah, she, I get my gym for free, but for her, to be honest, it's twenty-five bucks.
1:25:32 Speaker 04 Yeah.
1:25:33 Caleb Hammer? Twenty-five for gym?
1:25:34 Speaker 04 Yeah.
1:25:35 Caleb Hammer? Okay, well, debt minimum monthly payments not including the mortgage is $2,269.16. Crazy guys. Alright, in order to survive is $5,357. There's no reason why you guys earn this much that. How much would do you need a budget towards the house on a monthly basis to continue whatever?
1:25:54 Speaker 04 We have, honestly, we've had pretty much everything bought at this point. We need to buy some flooring. So
1:26:00 Caleb Hammer? What's that gonna cost?
1:26:01 Speaker 04 Maybe 500 bucks.
1:26:04 Caleb Hammer? Okay. You have an extra $3,042 left on a monthly basis. There's no reason why you, like I said, you could have cash flow this whole thing. What a joke. Okay, come on, guys. It's, just pay off smalls to larges, focus your money together and just pay off the debts. It isn't really complicated. You guys are getting married. Maybe you can pretend like you are. If you're not ready yet for that, that's okay. You can wait till marriage, but even still. Paying off the $96,217 of bad debt. Actually, no, let's get rid of your student loans. Admin a monthly payment and tell you student loans you're paid off. So student loans is $31,000 of that, 85441, so $64,362.84 of bad debt.
1:26:47 Caleb Hammer? With the 3,000, I'll give you guys 500 dollars of fun, okay? That is a lot more than people get on the show. So putting $2,500 towards your bad debt on a monthly basis. You're paid off in just over a year. Come on. This is the easiest thing in the world, guys. Use the budgeting app. You guys got this if you actually stick to it and actually discipline and not around and try all this extra bull Lego crap that you guys are doing. This is so dumb. You guys are out of debt in no time, bad debt. And then your minimum payments on the student loans and the mortgage and then you get a six month emergency fund. Come on. Spending your budget, you overspend, zero out of 10, your debt score, IRS debt, that brings us down to a zero out of 10. Emergency fund, there's nothing in savings right now.
1:27:29 Speaker 04 Um, I have 1,000.
1:27:31 Caleb Hammer? One out of 10, retirement, yes, you're about a three, you're about a one, combined, no, you're about a four, you're about a one, combine those, we're gonna get a two out of 10. For the household, then real estate, you have the land, we've done, the house situation's rough. Sure, you could sell the land, but for the loan, for the money you put in the house, it's not a great situation. Can I give you a five out of 10 there? All right, Hammer Financial Score rounded up 2 out of 10. Join us in the post-show, guys. Join us there. And joining Elite for a Better Value of Your Money helps support the channel and you get over 1,000 hours of extra content and just endless stuff on a weekly basis. You can call in and even talk to me. It's a good time. Make sure to check out all of our education. It's all 15% off. And check out the simpler money budgeting app. See you in the post-show.
1:28:14 Caleb Hammer? This is big. A major tea update. This is an update on my dating life. And only the pro gooners get to know about the updates on my dating life. To watch the Financial Audit Post-Show, click the Join button below.
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