Financial Audit Podcast – Episode Summary

Episode Title: $369,000 Of LGBTQIA+ Debt | Financial Audit

Host: Caleb Hammer
Guests: Shaggy (30), Bastian (29)
Location: Colorado Springs, Colorado
Date: January 21, 2026

Overview

This episode dives into the complex—and at times chaotic—financial life of Shaggy and Bastian, a gay couple with over a decade together and nearly $370,000 in cumulative debt. Caleb Hammer explores issues of income tracking, communication breakdowns, impulse spending, and long-term compatibility as the pair detail their living situation, income, and the choices that led to their current financial predicament.

Both guests are candid about relationship dynamics that impact their money habits, including self-admitted avoidance, bickering, and a mismatch in financial seriousness. Hammer’s signature humorous yet blunt interviewing style guides the conversation as he breaks down their debts, income, and major financial decisions. The result is equal parts financial autopsy, relationship counseling, and comic relief.

Key Discussion Points & Insights

1. Relationship Dynamics and Communication

• Shaggy and Bastian have been together for over 11 years ([15:00]), meeting through friends in high school.
• Major communication barriers exist: Shaggy is evasive about his precise income and treats finances as a “day-by-day” affair ([07:47], [14:40]), while Bastian has repeatedly tried—and failed—to get a clear answer from him.
• Pattern of avoidance: Both admit to postponing discussions about debt and budgets, often only addressing these issues during emergencies ([21:15], [21:32], [23:41]).
  • “I was afraid of approaching the hole that I was digging myself into.” – Bastian ([21:15])
• Disagreements often escalate, with Bastian admitting he tends to become more confrontational, leading Shaggy to “shut down” ([30:43]-[31:03]).
  • “I tend to be a little bit more overbearing in my arguments because I do get a lot louder when we argue together.” – Bastian ([29:15])

2. Financial Overview

• Combined annual net income estimated around $120,000 ([48:06]), with Bastian earning as a lead auditor for a gas station company and Shaggy making variable but substantial income cleaning homes.
• Inconsistent and vague income reporting from Shaggy; estimates range from $40k to $100k per year, but he admits not tracking exact numbers ([07:06], [14:12]).
• Major debt total outside of mortgage: About $130,000 ([102:36]); all-in debt with mortgage surpasses $360,000.
• Minimum debt payments per month (non-mortgage): $3,715 ([97:51])
• Household spending exceeds income: Recent months saw $3,000 more going out than coming in ([10:40]), attributed to a mix of impulse purchases and lack of budget adherence.

3. Debt Profile & Notable Financial Decisions

• Timeshare (Grand Vacations) trap:
  • $14,841 remaining, 15.9% interest, $268/month, plus HOA fees ([36:00]).
  • Both admit they were coerced at a Denver Pride event and now regret it but struggle to extricate themselves ([36:00]-[37:49]).
  • “It’s so stupid, I hate it so much now.” – Shaggy ([37:22])
• Multiple high-interest credit cards and loans:
  • Stacking balances with interest rates between 15% and 23% ([54:49], [62:07], [79:14]).
  • Deferred interest balances and promotional periods about to expire, risking balloon payments ([48:46]).
  • Several failed attempts at debt consolidation; debts inevitably return ([74:52]).
  • “Consolidations haven’t worked because our balances are right back up. If you guys do not change behavior... you’ll end up in the same exact spot.” – Caleb Hammer ([74:21])
• Car loans and purchases:
  • Multiple vehicles including a (paid-off) Porsche and new Hyundai Sonata with a minimum payment of $814/month. The Sonata is underwater—worth less than the loan ([86:17]).
  • “You are dramatically underwater for a minimum payment that is absolutely insanity.” – Caleb ([86:24])
• Solar panels: $24,841 balance at 6% ([81:54]-[82:21])
• Other spending patterns:
  • Bastian frequently purchases hobby items (gaming consoles, collectibles, computers, energy drinks, and vapes) as “coping” ([26:58], [91:30]).
  • Shaggy previously accumulated $11k in credit card debt, now in a payment program ([65:00]).

4. Budgeting Challenges & Attitudes

• Repeated failed attempts at budgeting:
  • Budgets are only attempted during crises, never stuck to ([23:44]).
  • Budget talks frequently lead to unresolved conflicts, with someone “walking away as the loser” ([29:08]).
• Defeatist and nihilistic attitude towards debt from Shaggy:
  • “Spend money now, call it good, and if you can pay it back, cool. If not, whatever. It’s just money.” ([57:37])
  • “We live, we die. Incur it. Die when you’re ready. Call it good.” – Shaggy ([57:37])
• Bastian is more anxious about debt but often gives up on trying to “fix” Shaggy’s attitude, creating codependent dynamic ([58:06], [58:43]).
  • “You accept it?” – Caleb
    “I’ve become indifferent towards it because there’s not been much of a point in arguing it.” – Bastian ([58:07])

5. Retirement and Savings

• Bastian: $9,000 in brokerage, $2,640 in Roth IRA ([91:49]).
• Shaggy: $3,000 in 401(k) ([92:06]).
• Both are behind for their age, given their income and debt ([91:54]).

6. Host Commentary and Relationship Red Flags

• Questioning relationship viability given financial incompatibility:
  • “You can love someone, but even that person you love might be completely, endlessly tearing you down. And it might not be best for you to be with him.” – Caleb ([41:38])
  • “You’re going to be dragged to the depths of poverty because of this beast.” – Caleb ([41:12])
• Caleb suggests that unless behavior changes—either new jobs, bankruptcy, or separation may be necessary ([103:08]-[103:44]).
• Caleb’s score: Minimum payments plus expenses mean they need $7,721/month to survive ([102:02]).

Notable Quotes & Memorable Moments

• On Financial Evasion
  “I don’t really know the answer as well. I just do it per day.” – Shaggy ([07:43])

• On Budgeting Attempts
  “We’ve done multiple budgets… we’ve definitely tried to do budgets a couple few different times. We’ve never really stuck to it.” – Bastian and Shaggy ([21:46]-[21:49])

• On Timeshare Regret
  “It’s so stupid. I hate it so much now. Like, it’s cool to get to go on these lavish vacations for cheaper—go on lavish vacations for cheaper using travel advisors… You’re paying this forever.” – Caleb and Shaggy ([37:22]-[37:39])

• On Realization of Dysfunction
  “Why did you lock down with this one? Such a curious creature.” – Caleb ([39:00])

• On Relationship Power Dynamics
  “He’s required you to ask him for how much he makes for him to communicate that in any way whatsoever…” – Caleb ([15:59])
  “I tend to be a little bit more overbearing in my arguments… I get a lot louder.” – Bastian ([29:15])

• On Attitude Toward Debt
  “Spend money now, call it good, and if you could pay it back, cool. If not, it’s just money. We live, we die.” – Shaggy ([57:37])

• On Guilt and Change
  “Does that not embarrass you…? It should.” – Caleb ([97:24])
  “That was definitely a big part of, like, what was holding me back from coming was just because ultimately I am really embarrassed about where I’ve gotten myself.” – Bastian ([97:38])

• On Financial Outcomes
  “Minimum payments outside of the mortgage is $3,715.98. Mortgage is $1,623.43. All utilities combined… [are close to] $2,000.” ([97:51], [98:20])

• Summary of Advice
  “You need to do it today. And if you don’t, I hope he leaves you for the sake of him. Because he deserves to live a good life. So do you. But you don’t get to hold him back. It’s not fair.” – Caleb ([59:47])

Timestamps for Key Segments

• Meet the Couple, Relationship Background – [01:31]-[03:57]
• Income Discussion & Communication Issues – [04:41]-[14:12]
• Reflections on Budget Failures & Relationship Dynamics – [21:15]-[32:46]
• Debt Inventory (Timeshare, Credit Cards, Loans) – [34:19]-[83:41]
• Vehicle & Solar Panel Loans – [81:07]-[83:41]
• Household Budget Calculation – [97:51]-[102:02]
• Long-Term Outlook & Recommendations – [103:08]-[104:12]

Tone & Highlights

The episode is fast-paced, profane, and irreverent, in signature Caleb Hammer fashion. Much of the humor comes from the couple’s candid, occasionally bickering dynamic, as well as Caleb’s unfiltered observations about gay culture, debt, and financial self-sabotage. While lighthearted, the core message is serious: without behavioral change, the couple’s finances—and possibly their relationship—are at risk.

For listeners interested in relationship finances, debt traps (like timeshares), communication breakdowns, and hard-hitting financial advice delivered with comic flair, this episode is a must-listen.