$400,000+ Of LGBT Debt | Financial Audit

Summary

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Financial Audit with Caleb Hammer — Episode Summary

Episode Title: $400,000+ Of LGBT Debt | Financial Audit

Date: July 16, 2025
Host: Caleb Hammer
Guest: Bryce, 29, Intellectual Property Paralegal, Dallas, TX

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Episode Overview

In this unflinching episode of Financial Audit, host Caleb Hammer sits down with Bryce, a high-earning intellectual property paralegal who, despite a $138,000 annual income, finds themself mired in more than $400,000 in debt. Together, they dissect how such a substantial income can still result in chronic late payments, lifestyle inflation, and crippling credit card debt. The conversation weaves through topics of personal finance, emotional spending, LGBTQ+ relationship dynamics, and accountability, with Caleb’s trademark blend of blunt critique and sardonic humor.

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Key Discussion Points & Insights

1. Introduction of the Guest and Situation

• Bryce explains their role as a paralegal, confirming a solo household with an impressive salary.
• Bryce’s Net Income: ~$7,600 per month
• Main Struggle: Chronic overspending, inability to budget, late payments (including mortgage).

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2. The Mortgage Trap and No Emergency Fund

[03:00 – 08:10]

• Bryce is behind on mortgage payments despite having a relatively low mortgage-to-income ratio (27%).
  • Caleb: “With such a strong income…you shouldn’t even be in a world where something is ever late.” (05:13)
• Reason for late payments: Prefers manual payments due to income timing, doesn’t use autopay.
• No substantial emergency fund in place, further increasing risk.
• Caleb warns: chronic lateness is a “slippery slope” to foreclosure.

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3. Borrowing, Breakups & Housing Decisions

[08:38 – 16:00]

• Bryce bought their house with an ex during COVID-19.
• Post-breakup, had to buy out the ex’s half using:
  • FHA Assumption
  • $50,000 Home Equity Loan (10% interest)
  • $10,000 401k loan (~$74/month payment, risky if job is lost)
• Bryce has little to no equity after restructuring these debts.
• Caleb calls out the mistake of joint mortgage without marriage and the high cost of exiting the relationship:
  • Caleb: “Objectively bad financial decision.” (13:07)

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4. Spending Habits & Emotional Triggers

[17:13 – 26:16]

• Bryce admits to overspending for emotional satisfaction, often spending to “fill a void” following a restrictive relationship and lack of local support system.
• Monthly spend regularly exceeds income, sometimes nearly double during tax refund months.
  • Caleb: “You went and spent $8,000… that’s not a sneak.” (25:29)
• Conference travel and DJ hobby also lead to large, delayed reimbursements and expensive equipment purchases.
• Frequent justifications: conference expenses, burnout at work, living alone, desire for enjoyment (“trying to have fun” through festivals, eating out, concerts).

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5. Lifestyle Inflation and Credit Card Catastrophe

[24:34 – 41:42]

• Many credit cards are maxed out, with minimum payments rivaling half the mortgage.
• Bryce’s spending categories: laundry service, Ubers, nightlife, DJ equipment (~$10,000 total), subscriptions galore (including DJ software, streaming, and unique LGBTQ+ platforms like Sniffies).
• Interest rates: on some cards, exceeding 27%.
• Total “bad debt” (non-mortgage): ~$120,000

Notable Quotes:

• Bryce: “I. I don’t really pay attention to my finances as I should.” (20:22)
• Caleb: “You can’t be trusted to make payments on your own... you’re not disciplined, you’re immature financially.” (59:30)
• Caleb: “You’d be okay with being in retirement age, still paying this off.” (28:10)

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6. The Credit Card Cycle and Lack of Accountability

[51:10 – 54:09]

• Bryce cycles through statements of “I’m not accountable to anyone,” eventually acknowledging impulsiveness and lack of self-discipline.
• Caleb highlights that all of Bryce’s debts (besides one, which was managed by an ex) have been late multiple times this year, refuting excuses about irregular income.

Notable Moment:

• Caleb: “A murderer used to not murder, and then they murdered. We should probably put them in prison.” (51:12)

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7. Breakdown of Asset & Debt Situation

[81:27 – 88:13]

• Mortgage: $277,000 (on a ~$350,000–$360,000 home)
• Home Equity Loan: $48,000+ at high interest
• 401k Loan: ~$3,800 left
• Car Loan: $32,000+ at ~7% interest
• Student Loans: $17,000+ (lowest-priority debt)
• Minimum debt payments (excluding mortgage): $1,810/month (24% of net income)
• Savings: < $50 in liquid savings, $25,000 in retirement ($112k recommended for age/income)
• Total Debt: $415,000+
• Substantial spending on nonessential fun, hobbies, and subscriptions.

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8. Lifestyle, Identity, and LGBTQ+ Experiences

[26:33 – 38:08; 77:24 – 79:40]

• Bryce’s spending and social activity reflect newfound independence and exuberance after leaving a controlling, isolating relationship.
• Frequenting festivals, clubs, and enjoying DJ hobby.
• Discussion of LGBTQ+ dating, hookups, and the unique digital platforms and spending patterns that accompany this lifestyle.
• Humorous & frank discussion about apps and subscriptions (Grindr, Sniffies), with both host and guest poking fun at some of the more infamous aspects of the gay dating world.
  • Bryce: “It’s like a buffet.” (77:53)
  • Caleb: “You will see progress… literal pictures of holes.” (79:38)

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9. Financial Planning & Realistic Budget Creation

[84:17 – 88:13]

• Caleb constructs a realistic monthly budget:
  • Mortgage: $2,117
  • Non-mortgage debt minimums: $1,810
  • Utilities, HOA, phone, insurance, food, subscriptions, and fun budget ($250/month capped)
• After basic needs and minimum payments, about $1,676/month is available for debt payoff — with a strong push to stop all additional lifestyle inflation, trips, and major purchases.
• Suggested Timeline:
  • Immediate: Build 1–2 month emergency fund
  • Next: Debt snowball method, smallest to largest, targeting "bad debt" (esp. high-interest non-mortgage debts)
  • Target: 3.5–4.5 years for full bad debt payoff, then rebuild retirement savings

Notable Quotes:

• Caleb: “If you want more percentage wise to go to fun, you do not take it from your retirement… you cut down your life if you want to have more fun.” (87:55)

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10. Turning Points, Encouragement, and Accountability

[72:49 – end]

• Repeated calls for Bryce to develop self-discipline, start budgeting with an app, focus on future security.
• Host provides access to budgeting tools, education classes, and encourages therapy or outside support for emotional spending and overwhelm.
• Caleb: “You are 29. There’s no excuse for immaturity… you should be budgeting at 29.” (70:39)

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Memorable Moments & Quotes (with Timestamps)

• “Bottom who’s hit rock bottom… This would be rock bottom.” – Bryce, joking about his financial state and social identity [03:00]
• “Maybe you need a 50-year-old dom daddy to actually hold you down because you can’t be trusted with your own finances…” – Caleb after discovering the cycle of debt & emotional spending [17:36]
• “I’m just overwhelmed. I’m really good at solving other people’s problems. And then when it comes to my own, you just freak out.” – Bryce on his avoidance of personal finance [76:53]
• “It’s like a buffet!” – Bryce on using the hookup platform Sniffies [77:53]
• “You could be so wealthy… I don’t know why you accept this life.” – Caleb, confronting the cognitive dissonance [46:46]
• “You’re not a unique unicorn, no offense on life, not ever gonna see any consequences for your actions.” – Caleb on how foreclosure can happen to anyone [24:06]

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Timestamps for Key Segments

• Intro & Situation: 00:00–03:00
• Mortgage Troubles: 03:00–08:10
• Home Equity & Ex-Buyout: 08:38–16:00
• Lifestyle Inflation & Emotional Spending: 17:13–26:16
• Credit Card Catastrophe: 24:34–41:42
• Accountability & Deflection: 51:10–54:09
• Asset & Debt Breakdown: 81:27–88:13
• Budget Analysis & Debt Plan: 84:17–88:13
• LGBTQ+ Lifestyle, Apps, and Subscriptions: 26:33–38:08, 77:24–79:40
• Conclusion & Final Advice: 88:00–End

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Conclusion & Hammer Financial Score

• Spending/Budgeting: 0/10 (overspends, no control)
• Debt Management: 1/10 (late payments, but not in collections)
• Retirement/Emergency Fund: 0/10 (well below standard)
• Retirement and HSA: 3/10 (far behind recommended)
• Real Estate: 4/10 (has house but no equity and saddled with secondary debts)
• Overall Hammer Score: 2/10

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Action Items for Bryce

1. Emergency Fund: Build up to 2 months of living expenses ASAP.
2. Debt Avalanche/Snowball: Attack smallest, highest-interest debts first; eliminate “bad debt” in ~3.5–4.5 years.
3. Cease Lifestyle Inflation: No more unnecessary trips/concerts/luxury purchases.
4. Consistency: Automate as many payments as possible; use a budgeting app.
5. Accountability: Consider financial therapy/coaching for emotional triggers and avoidance.
6. Retirement Catch-Up: After debt, funnel raises and freed-up money into retirement savings.
7. Reflect & Act: “You have the income people beg for—start acting like it before it’s all gone.”

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“If people want to do it, you’re right, they should work for it … but that's a little easier said than done. You are in a position where you are childless and single. Other people have harder obstacles … Look what you’re doing with it. It’s a joke.”

— Caleb Hammer [34:13]

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For anyone battling high income but low net worth, this episode’s mix of tough love, raw honesty, and practical advice is a must-listen.

Transcript

[A]

To watch episodes of Financial Audit a week earlier, Check us out on YouTube. You are in a situation where you have a strong income that people would die for.

[B]

Well, maybe they should work for it. You're basically saying, well, you make a lot of money. You don't have problems, you're not human.

[A]

I didn't suggest that it came across that way.

[B]

But anyway, moving on.

[A]

You are failing dramatically.

[B]

You refuse to listen to the idea that I don't. I don't get paid on a consistent schedule.

[A]

I love the moment he gets called. I don't.

[B]

Excuse me. I don't have self discipline all the time. I'm impulsive.

[A]

You are putting yourself in a dramatically dangerous position. Hammer Elite is the best YouTube membership on the platform and I just upgraded it. Three exclusive dedicated shows every single day, Monday through Friday, and for the rest of the month, I am paying for you to sign up. Sign up for Hammer Elite in the description or pin comment below and submit proof of purchase@hammer elite.com after that, I'll send you a $10 digital gift card that can be spent basically anywhere and in most countries. This is the best membership you'll ever join. That's a promise.

[B]

Hi, my name is Bryce. I'm 29, from Dallas, Texas, and this is Financial Audit.

[A]

Thanks for coming down to Austin, man. What do you do up there for a living?

[B]

So I'm an intellectual property paralegal.

[A]

Okay, very cool. So paralegals not always making the most amount of money. What does she make?

[B]

So I make 138,000.

[A]

Well, that's a lot of money. What the is going on here would be my question, because. Wow, that's one of the strongest, at least single incomes we've had for our. In a very long time. Household income, sure, we get that, we get up there, but. Which is still incredibly strong. But it's a single income. That is incredible. Is it a single household?

[B]

Yeah, it's just me.

[A]

It's just you. Okay. What hits your account on a monthly basis?

[B]

I'm sorry?

[A]

What hits your account on a monthly basis?

[B]

7,600.

[A]

What are you struggling with? I'm so.

[B]

Because I don't. I don't remember. I'm not.

[A]

Don't remember. What do you not remember? Do you not remember what you don't remember? What do you not remember?

[B]

I don't know. I don't know. I don't know specifics all the time. Income, I'm not good at. I can tell you. Payments, but payments of what? Like what? What's my utility bills or Whatever. But income, I don't. I don't exactly remember.

[A]

What are you. So what you don't remember is your income.

[B]

Yeah.

[A]

You don't know what hits your account.

[B]

Correct thing. It's 76.

[A]

How do you possibly budget if you don't know what's coming in? Like, you can't make. There's nothing you can do if you don't know how much money is coming in.

[B]

76 or 78. I mean, it's 70 something.

[A]

I had 75. I had 7583.

[B]

That sounds about right.

[A]

Okay, but why are you struggling then? It can't be a. I don't remember. What do you like. Sure you don't remember your income. Why would you be struggling? I would suggest. Well, if you don't know how much is coming in, you wouldn't know how to budget. But why are you struggling?

[B]

I just. I don't. I. I'm a bottom who've hit rock bottom. You know, I don't know how many.

[A]

How many weeks did he practice that before coming on the show? Yes. I feel like I'm in glean right now. I know. It's. I'm glad you're here. You're gay. We're all thrilled about it. It's Pride Month. You look like you're on with your eyes right now, but I, I. Are you bottoms love cane, right? No, Colton, isn't that true? Oh, he says no. Bottom. Who hit rock bottom? Good. Good. Little catchphrase. This would be rock bottom. I seen. What is this first thing? This is your mortgage statement. You're past due on your mortgage statement. That's what they put at the top of the pile. How can you be past due on a mortgage? This mortgage is not. Hold on. You and your stupid little catchphrase. What's the budget? Think you're cute? This mortgage is 27% of your income. Strong income and income that is easier to budget than a low income because the less percentage has to go to necessities typically other than the roof over your head, because you picked a mortgage that is this amount. But $300 for groceries is a lot less to your budget than it is for someone making $4,000 a month net. So I don't see why the you would be struggling. You got your little catchphrase. I'm proud of you. Good job. You did it. Lube up. Sniff the. Sniff all the poppers you need. But you are failing dramatically and being behind on your mortgage. Why? Why are you behind on your mortgage?

[B]

So, I mean, sometimes I'm just few days late. I. You know, things happen. I work.

[A]

Whatever.

[B]

You.

[A]

You work. We all work.

[B]

Yes, I realize we all work.

[A]

Okay. Rent is not due because you work. I'm confused.

[B]

Okay, but it gets paid. It might be pa. Few days late.

[A]

But if we're getting late on our mortgage. That is just suggested. Yes. If you're not paying your mortgage on time, that is just suggesting that you are putting yourself in a dramatically dangerous position. Especially with such a strong income. Like you shouldn't even be in a world where something is ever late.

[B]

You're right. But I mean, I was a few days late. I'm human. It's okay.

[A]

No. Why don't you have automatic payments?

[B]

Oh, I can't.

[A]

Why are you letting your kids.

[B]

I don't trust automatic payments because I don't get. I don't. I don't get paid on like a calendar day. I get paid every other Friday.

[A]

This is 27% of your income. That shouldn't matter unless you're blowing all your money on bull.

[B]

Well, maybe, but I don't. I don't get paid on like the 1st and the 15th. I get paid every other Friday. So I don't. I don't know when the first is gonna fall. Right. I don't know when.

[A]

I don't know when the first is going to fall.

[B]

I don't know when the payment is going to withdraw in relation to my paycheck.

[A]

Does that if you're consistently late.

[B]

I'm not consistently late.

[A]

Oh, come on.

[B]

But it's unfortunate you found this. This month is. When we have this conversation, we have.

[A]

A strong income that people would love. People would die for.

[B]

Well, maybe they should work for it.

[A]

What do you mean?

[B]

I work my off. You're talking to me.

[A]

Yeah, but you're willing to throw it away.

[B]

I'm being late like couple of days.

[A]

Three days are. This is the most recent month. Do you not see what a dangerous, slippery, slippery slope this is? You are late now. You've been late before. You know, you catch it before it hits your credit. Sure. Before a full missed payment is declared on your credit report. I gotcha. But this is a slippery slope. If you are late at your strong income because you are afraid to put it on an automatic payment because 27% of your income going to the roof or your head, which is, by the way, normal or low compared to most people. You are refusing to put it on a minimum payment because you don't know how to budget your income. That is just suggesting how dangerous this is how you're in a position where you could very much have an actual past due late payment. Before you know it, four days becomes five days, five becomes six. You never really know. Maybe the Poppers convention is popping up around the corner and we have to go blow all our money there, test out the new flavors.

[B]

Maybe.

[A]

And you suggest others should work for it. Do you look down on others jobs?

[B]

You're talking to me as if I'm like, you know, I. I'm. I'm talking to you as if you're throwing it away. Okay.

[A]

What. How do you think I'm talking to you?

[B]

I mean, you're. You're basically saying, well, you make a lot of money, you don't have problems. You're not, you know, like, you're not human. Right.

[A]

What? I didn't suggest that.

[B]

Well, it came across that way. But anyway, moving on.

[A]

Why you should be able to dissect arguments in a more, you know, practical way. You're a paralegal. It is very clear what I am saying. This is a dangerous position to be in. This is a slippery slope. This leads to people getting foreclosure notices on their house. Like I grew up with. This leads to people losing their house. People get foreclosed on all the time. It leads into a position where, oh, you get laid off and then you're. Do you have a substantial emergency fund? Full six months?

[B]

No. Mm.

[A]

And we're already living on the edge of five days, which becomes six, which would become seven. Late on our mortgage.

[B]

Yeah.

[A]

Oh, I have the house. It's a. It's a fine house. Looks nice from the outside. It's unfortunately in one of those neighborhoods that was built in the last 10 years, and they decided to plant no trees, so it's kind of soulless and dead, but yeah. Nice house. Do you have equity in this house? How much did you put down? When did you get this house?

[B]

So I bought the house with my ex, January 2021.

[A]

Is he on the mortgage?

[B]

No.

[A]

Was he on the mortgage?

[B]

He was on the mortgage, yes.

[A]

Oh, yeah? Yeah. Okay, Mess.

[B]

So, bought the house, lived in it for, I believe, a year, year and a half or so, and then we parted ways.

[A]

Okay. Interesting story for me, asking if you have equity in the house. Do you have equity in the house?

[B]

I don't think so. Not right now. Just because I bought him out of his equity and I had to finance.

[A]

Really?

[B]

Yeah.

[A]

Okay, you had to finance that? How'd you finance that?

[B]

So I did a FHA loan. So you can do an assumption and keep the interest rate. So I assumed the first mortgage, took a home equity loan out for 50,000 and then took a loan out of my 401k for around 10 and paid him out that way.

[A]

Goodness. Okay, so what's the house worth? Do you even know what the house is worth? Do I know what the house is worth?

[B]

I would say probably 360 somewhere. 350? 360.

[A]

Well, that was just an equity position. But you're saying no.

[B]

Well, because I have probably like a wash now.

[A]

You said you're a rock bottom. Why would you be at rock bottom? To you, rock bottom.

[B]

I mean, I. I just had a moment. Well, you'll see in the credit cards. But where? I just realized, you know, I've just got too much credit card debt. It's been too much and I don't.

[A]

Know why you spending too much.

[B]

I don't know. Build a. Fill a void.

[A]

No. What void are we filling? I mean, you broke up with your ex, it sounds like.

[B]

That's not. That's not the void. I mean, I. I just work and I don't have family around and.

[A]

Why.

[B]

I mean, because I live elsewhere.

[A]

Where's your family?

[B]

On the east coast.

[A]

Why do you wanna. Why do you want to be here? Why do you want to have this house here?

[B]

Well, I'm gonna die in this house. I have a 2.75 interest rate.

[A]

I'm never leaving unless rates get to that again.

[B]

Do you think they're ever gonna get that way again?

[A]

I don't know. It's good. You never really know. But you have a long life, Very long life left.

[B]

I love where I live.

[A]

And in treeless zan land.

[B]

Okay. I have a tree in my front yard.

[A]

So you bought this house with another. With the dude. But you guys weren't married?

[B]

No.

[A]

Why would you get on a mortgage with someone you're not married to?

[B]

I mean, it was Covid. I. We were stuck in. In a small apartment together.

[A]

Make a bad financial decision. Okay.

[B]

I thought it was a guy. I stand by that decision. 100, buddy.

[A]

You had to take out a 401k loan and home equity loan. And what's the interest rates on those? What do you have? What's your highest interest rate?

[B]

The home equity is probably 10.

[A]

Okay, then. So obviously, objectively, bad financial decision. Look what you had to do in order to get out of it. You weren't married. There wasn't a good way to actually get out of it. Well, you bring in strong income. Was he bringing in strong income?

[B]

Yes. What Was he bringing in probably 250?

[A]

And no one helps you with this now? Because that's a, that's a strong income to lose.

[B]

No, I, it's just me. I mean, I, I, I'm a lone ranger. The lone ranger.

[A]

Okay. So you're never gonna date again?

[B]

Well, not, not right now. It's not in the cards. I'm just, I'm living life. I'm, I'm.

[A]

So why did you guys decide to get on a mortgage together, though? Because that is like, what has been seen as an objective mistake here.

[B]

Because it was. We were in the middle of COVID and stuck in a small apartment and the, the houses, the house was reasonably priced at the time. Interest rates were low.

[A]

And asking mortgage together, though.

[B]

I do regret that, honestly. I mean, I regret that whole relationship, but.

[A]

Regret that whole relationship. Why'd you guys break up? How long are you, how long were you guys together?

[B]

We were together for like four years.

[A]

Okay. How long. How long were you together when you got the house?

[B]

Just over two.

[A]

She. Dude, that is okay. Without even the marriage. It just, it just doesn't really make sense. Okay, and why did you guys break up then? A mortgage together? It gets scary.

[B]

There's a lot of reasons. I mean, but honestly, it was the dynamic.

[A]

I mean, what, two bottoms together?

[B]

No, he's twice my age, so.

[A]

Okay.

[B]

Like, I mean, and I didn't think that was a problem when we first started dating. I mean, if it's, if it works, it works, right? But it works.

[A]

It works like, I don't care.

[B]

I mean, I just felt like.

[A]

How old were you when you guys met?

[B]

I was 21.

[A]

Like a sugar daddy situation for a little bit.

[B]

Yeah.

[A]

Yeah. Because he was making money.

[B]

Yeah, I was making good money.

[A]

So you were 21. He was 42.

[B]

Oh, yeah.

[A]

That's chunky. Yeah, it's chunky. I don't really care. Consensing adults can do whatever they want.

[B]

I mean, yeah, it was good at the, at the beginning, but I don't know, pretty soon I realized that we're just on different paths.

[A]

Yeah. He couldn't get hard anymore.

[B]

No, he's just like. He's got an established career. He's already.

[A]

So do you?

[B]

No, I don't. Not at that time. I mean, when we met, I was working at a call center making. I don't know.

[A]

When you broke up.

[B]

35.

[A]

When you broke up.

[B]

Right. But that's part of the reason we broke up is because I wanted to go and make, you know, a success of myself. I was Building my career. I was going to school.

[A]

I wasn't. You.

[B]

Yeah, he did. He.

[A]

He wanted you to be a trad wife.

[B]

I. I think I know what you're saying.

[A]

Like, well, yeah, like, why wouldn't you be allowed to go outside? Unless the dude's like, no, you must stay at home and cook and Correct. Really?

[B]

Well, it's not cooking clean, but it was just like, you're mine. You can't have friends outside of this relationship.

[A]

Oh, okay. The age gap, that is being weird.

[B]

Yeah, it was weird.

[A]

Okay. Yeah, that's a good reason. That's a good reason to break up. I mean, that actually, compared to how most people use the term, is actually closer in line with the real definition of grooming, where you, like, you separate people from their outside support system, so you can't have anywhere to go.

[B]

Yeah, it was a little toxic.

[A]

Yeah, toxic for sure. I'm glad you broke up, but now this house is all on you and you guys got into it to be in it together.

[B]

Yeah.

[A]

Now you're behind by a few days, but yeah. Yes. But it's the start.

[B]

I get it.

[A]

It's the start. I mean. Yeah. And you don't have an emergency fund. Do you like your job? Law can be hard.

[B]

It is hard.

[A]

It could be a lot of hours. It is a lot of your job.

[B]

I. I feel a little burnt out lately, honestly.

[A]

Okay. I have notes that he told his prod, the producers, by the way, that he straight up doesn't like his job, so. Okay. That's what you told them. That's what I'm going to go off of. You're on camera now. So some people get a little nervous to say the real answers. Okay. Yeah. If we're late, we don't have an emergency fund. You don't even like the job that you have that is making it so that you're able to do these things. That is three pillars of get pretty soon. Because if you get burnt out, you stop performing as well. You get fired or you get burnt out. You and you, you know, decide to step away. I've had people that have come on the show that abandoned their job without an emergency fund, without a job lined up because they just could not take it anymore. And they're like, mental health, mental health, mental health.

[B]

Oh, I'll never do that.

[A]

Yeah, we'll see, though. We'll see. People get pushed to that edge where they see no other option. Are you looking for other jobs?

[B]

I kind of have golden handcuffs here.

[A]

Exactly. So you might get pushed that edge.

[B]

I don't, I don't, I don't have a lot of options as far as like unless I downsize.

[A]

Unless people just like you, I've seen people just like you who abandoned a job that they do not like and they don't have anything land lined up because they get pushed to that point, then they get to a position. Position. I mean, I see. Yeah, savings is horrible for what your, for what your income is. And listen, here's the thing. Your income, it was 7583. But you had more money come in because of a tax refund. Good job. Congratulations. You put too much in taxes throughout the year. But doesn't matter because even with the total 13,193 that came in, how much went out? In your opinion? Not in your opinion. What do you think?

[B]

Probably 15, 17, something around there.

[A]

16,379. So you had almost double your income compared to normal, being behind, not having an emergency fund, hating your job, and yet you still go blow more than came in with a tax refund month. Why, why is it even close to acceptable? Maybe you need a 50 year old Dom daddy to come in and actually hold you down because you can't be trusted with your own finances.

[B]

I mean, I guess that's why I'm here trying to figure things out. I mean I.

[A]

That is such a cop out answer. Why does everyone say that answer when they're pushed into a corner? I don't get it. I want to know self assess why you think that is. Okay, why you did that. I'm trying to get into your brain at this moment, buddy, so we can have a conversation and I'm able to take the perspectives that I learned through this moment.

[B]

Shave $3,500 off the top of that because okay, I was out of the conference for work and those were business expenses that I'm getting reimbursed on.

[A]

So I get you pretty much if you just do that. Which by the way, when does that reimbursement come in? Because you would have to put it on debt, which means you pay interest on a business expense. With even you reimbursing it, you still lose money via interest.

[B]

It's very annoying. Yes.

[A]

Yeah. How long does it take to get it reimbursed?

[B]

I mean I should get it in a week or two, whenever. Yeah, I mean I.

[A]

When did you go?

[B]

May. End of May.

[A]

That's brutal. It takes a month and a month.

[B]

I mean I was slow to submit my, my receipt.

[A]

Why? That's on you see there we Go.

[B]

Right.

[A]

Because when you're at a mortgage, so to.

[B]

When you're, when you're at a conference, you're. You're also working and you're, you're like. The work doesn't stop. So when I came back from, from that, I had a whole bunch of catch up and things to do and that was my priority.

[A]

Ketchup work. Ketchup?

[B]

Yes.

[A]

You don't have any time. You do not have five minutes to gather receipts.

[B]

Better go to stupid answers for 200. I think I just had other priorities.

[A]

What were your other priorities? More than we're financially and we're behind on our mortgage.

[B]

Keeping up with work.

[A]

It was not 24 hours.

[B]

It wasn't 24 hours.

[A]

24 hours for a month.

[B]

No, I'm not saying that. But I just. I was backed up and so it took a while and so I'll get it. It's. It's coming to me. It's been submitted.

[A]

Yeah, but you lost interest for a couple months almost. And even that you brought in your tax refund and you just blow it immediately spending, let's say getting rid of the conference cards. Huh?

[B]

I put it on credit card. I spent. I put it towards credit card.

[A]

Which you then turned around and completely spent on. So it negated it. You really just used your tax refund money to go spend on bull. So it's like, okay, that sounds nice, but we know what actually happens because your documents are literally in front of us.

[B]

I didn't think about it like that.

[A]

Why? You're such a smart guy.

[B]

I don't really pay attention to my finances as I should.

[A]

Mortgage man. You're on your own now. How many years has it been since you've been on your own to. Hey, I don't know, dude. Next time you go to a conference, man, got to spend more time collecting receipts and less time cruising the under stalls in the conference center. Let's talk about student loans. I know it's something we all want to avoid talking about, but if your private student loans are crushing you, why refi might be exactly what you need. They don't rely on your credit score alone. They look for borrowers who have the desire and ability to repay. That's a game changer in a market where most lenders only see a number interest rates under 6% guaranteed. That's practically a unicorn in student lending. Plus, they offer structured payment plans to lower your monthly bill and even a cosigner release program so your mom or dad can step off the hook. Y refi is known for personal service. No faceless call centers. You get a dedicated rep actually cares about your progress. They've got a 4.6 star rating on Google, which tells you people genuinely like working with them. So if your private loans are burying you, it's time to reach out. Why Refi wants to help you climb out of debt, not push you further in it. Check them out at y refi.com hammer that is y r e f y.com/hammer or call Triple Eight. Why refi-78? That is Triple Eight. Why refi- 78. Break free from the high interest trap and get your finances under control once and for all. What do you think your financial score is? 0 to 10, 0 being the worst, 10 being the best. Where do you think you are in this world of finances?

[B]

I'm gonna say a two.

[A]

Okay. If you want your financial score, if you want to see where you stand, take the free [e-mail] or click that link in the description below. And if you don't want to end up on this show, all you have to do is download the Dollar wise budgeting app, sign up for your free trial, and if you want to take it to the next level, sign up for our Dollar wise central program. You get the premium version of our budgeting app and you get all of our educational programs bundled together. Literally, it's an 80% discount. Wanted to make it more accessible to people, go to Dollarwise.com click the link in the description below. Anyone who signs up for that or the annual version budgeting app gets a signed version of our budget friendly cookbook, and I'll mail it directly to you. If you want to go on the show, you can also go to caleb.com apply okay, well, we already have the mortgage, so home Zillow's seeing it worth about 3:30 or so, I think is what I saw. And Zillow's not 100. Perfect. It's been, you know, getting better, but, you know, it gets a little excited sometimes. So you had $277,592.11 on your primary mortgage. Obviously, we know there are more debts that are involved. Of course, the payment that was overdue was $2,117.04. And again, I mean, this is how this starts working and starts compounding, man, is, you know, we get past due on $2,117, then in order to make that payment, you don't have the $2,117 to make the next payment, which starts compounding and then you push that again, six days, you know, behind. Then you just get to a dangerous point where you're always behind. Then all of a sudden, you're a full month behind. It's late payment. You get, you know, multiple months behind. You get foreclosure notices. Again, the only reason I am harping on this is because I saw this cycle is I was literally growing up. People get foreclosed on every day. You're not a unique unicorn, no offense, on life, not ever gonna see any consequences for your actions.

[B]

I don't. I don't know what to say.

[A]

Just accept it. Okay. Yes. We love the interest rate. The interest rate's great. 2.75%. I understand why you want to kind of lock in. Okay, well, especially if you have to make minimum monthly payments like this, no wonder you're in a maxed out city Advantage platinum card. What the is happening with this? This thing's insane. What is going on with this card?

[B]

My guy, I use it for everything.

[A]

And you're okay pushing it to max out while interest is accruing? Nearly $700 of interest in one month. Yeah, it's $28,864.60. Whereas, I mean, the minimum monthly payment itself is disgusting. Like, yeah, no wonder we're late on mortgages here and there. How can you do it if this is half the cost of your mortgage on a monthly basis? $1,081.11. Is this where you put your tax refund?

[B]

Yes.

[A]

What the. Dude, you put the $5,000 towards it. It doesn't matter. You went and spent $7,688. 60 sense. Well, nearly $700 of interest accrued.

[B]

Yeah, it definitely snuck up on me. I mean, snuck up.

[A]

What. What are you talking about? You went and spent $8,000. Snuck up on you?

[B]

Well, the overall balance is what I'm talking about.

[A]

I mean, I. I don't understand how that stuck up and you spent $8,000. That's not a sneak. That's not a sneak.

[B]

It doesn't feel like I spent $8,000. I. I don't know. There's just a bunch of smaller transactions. It just adds up. And. And I just didn't realize where it. It got it.

[A]

What does spending 8,000 hours feel like? That's your. That's more than your. Literally more than your monthly income. Like, how is this sustainable? Well, it's not. We're buying a mortgage. It's no wonder. Do we have. No. Like, our savings isn't even close to a six month emergency fund. We hate our job. Yeah. Yeah. Not lining up great so far. What does spending 8,000 hours feel like?

[B]

I. I don't know. I just kind of. I black out. I kind of, like, turn a blind eye, and then we have a big balance. I just.

[A]

It.

[B]

It's not on the forefront of my mind, unfortunately.

[A]

What's on the forefront of your mind? So I don't.

[B]

I don't know if you're going to like this answer, but, like, during my relationship, I. I was like, kind of like, closed in. Like, wasn't like I couldn't hang out with a bunch of friends. Like, it was just. It. It felt. I felt smothered. And, like, ever since I've gotten out of that, I've just kind of done a 180 and I have.

[A]

Oh, you're overcompensating.

[B]

I am, I am. I am. What are you doing? I feel like I'm.

[A]

What are you spending on?

[B]

I'm trying to have fun.

[A]

In your perspective, what are you spending this on?

[B]

I think most of it is gonna be like, eating out or like Ubers or going to concerts, going to festivals.

[A]

Oh, my gosh, so many festival people on this show.

[B]

It's fun. You should try it.

[A]

I go to the local one, Austin City.

[B]

Oh, acl.

[A]

Acl.

[B]

Fun.

[A]

That one's fun. But I can afford it. And you should be able to as well. But you're spending more than you make on a monthly basis just on one credit card alone. And then the minimum payment is half your mortgage, the mortgage that you bind on. So you have to. You can live a fun life on your income if you actually stay at this job. But you have to budget it in. And now we have to pay off all the consequences of your previous actions, the fun, this life that you've been living for two years. And you're gonna have to bring in more money guy if we want to pay this off quicker so you can get back to fun quicker. How long does this take to pay off? Dude, how long do you think this takes to pay off? Minimum monthly payments only without purchasing, which.

[B]

Right. Yeah, if I was just doing just the minimum. I don't know. 30 years.

[A]

31 years.

[B]

31.

[A]

You'd be okay with being in retirement age. You'd be able to take from your retirement accounts. If there's any left at no penalties. You'd be able to take it out 59 and a half. That's how long you'd be paying this off. This payment, that is half your mortgage. In fact, this would be paid off before this would be paid off after your mortgage.

[B]

I don't know what to say.

[A]

Hamper. What the is hamper 31.14?

[B]

That's laundry service.

[A]

Laundry. Sir, you. You are. You do not live that life. You're not there. Sorry. I mean, just. Just straight up sorry. That's. That's not a ego stroke. I could afford that. I'm in that life. Yay for me. You're just not. I would love you to be there. I'd love anyone to get there. If you cannot afford something, you cannot afford it. And I don't do that. I wash my own clothes. You can too.

[B]

Yeah. I mean, most of the time I do, but when I. When I'm. I. When I. If it's a week or I'm working 60 hours and. And I need 60 hours. I mean, sometimes we have deals happen. Sometimes we have, you know, transactions and, you know, there. I don't think you understand what it's like to work in a law firm.

[A]

In a law firm. But I know what it's like to work 60 hours plus. There are people out there with kids that work 60 hours plus that do their own laundry and their kids laundry. You have no dependence. Law firms specifically. No, but the hours. For sure. For sure.

[B]

Yeah. I mean, I sometimes just need to do what's convenient.

[A]

Need.

[B]

I mean, that's what I felt in the moment. Yes.

[A]

While we were maxing out a credit card that you can't pay off tickets to disco.com. so we're spending that. Great. We're going to Shake Shack. Certainly not bottoming that night. They went in, got some bull from 7 11. Subscription winning. Got some, went and got some B.S. wendy's, Timed Village, Bloomingdale's outlet. Nordstrom. Nordstrom. Nordstrom ain't cheap. Nordstrom ain't cheap. And you could actually afford Nordstrom, but not with the way you're spending on everything else in this world. You're beyond spending more than you make. I mean, listen, again, more than comes in on a normal month you spent on this card alone. We have many to go through Express. And I love me some Express. They give me 50% off. So shout out Starbucks, Zara going in and getting some bs. Greek lover food. Sparks, Smoke Shop. What are you doing? What are you. What are you smoking?

[B]

I need to pick up a vape.

[A]

Why? Why? You're not even in that, buddy. I mean, you're older than you. We missed the vapes.

[B]

I know we missed the vapes.

[A]

You're going back. I.

[B]

It's not a Healthy habit. I mean, I was smoking in high school, so I guess. Oh, cigarettes for now that as far as we know.

[A]

I mean as far as we know. Sure, as far as we know. But we do not know the long term consequences. There have been many people with collapsed lungs. In fact, one on the show from vaping.

[B]

Sounds like problem for another day. Huh? Sounds like Bryce's problem for another day.

[A]

Oh, he said his real name. That's what happened. That's what that bleep was. The number one YouTube membership just got.

[B]

Upgraded and for this month only you.

[A]

Can join for free.

[B]

3. Three exclusive shows every day, Monday through Friday. Financial audit post shows exclusive and uncensored financial audit episodes. Our call in show Hammer it out.

[A]

Then take the train.

[B]

And brand new shows fat and fatter.

[A]

There is no one I would go.

[B]

Off brand behind the audit.

[A]

What? This was wild.

[B]

Hammer versus Internet.

[A]

And now upgrading from one live stream.

[B]

A week to two. No other channel offers what Hammer Elite provides.

[A]

Join with the link in the pinned comment or description below.

[B]

Submit proof of [e-mail] and we'll reimburse you for the first month with a $10 digital gift card that can be spent anywhere in most countries. Sorry, North Korea, this one isn't for you.

[A]

Yeah, this is how we have to do a free trial on here. Because the platform doesn't currently offer free trials.

[B]

It's okay. It's worth it.

[A]

Yeah, it is.

[B]

Join Hammer Elite, the best membership on YouTube today for free.

[A]

Yeah, it does. And it sounds like a very expensive program as well. Problem, Expensive problem.

[B]

One thing at a time.

[A]

Yeah, but maybe we stop that so we don't have to deal with it. I mean, do you work out? You seem okay. You do that so you can live a better life. Why harm yourself at the same time? Especially with a very expensive addiction? Put in the work, man. Put in the work. Also, I love how you don't have enough time to wash your laundry, but you have enough time to go all these festivals and concerts. In fact, the second purchase on here after the laundry was to go to a concert.

[B]

Priorities.

[A]

Yeah, priorities are cochina on the something went and got some bs. What are you going into the gas station getting constantly for like 6, 7 bucks?

[B]

Usually like Red Bull and a snack.

[A]

Why? Dude, just buy a bulk, man. Again, just buying bulk. If you just properly budgeted, you could live so well. You have no idea. People out there that are watching this video right now are begging to have your income. And yes, even with 60 hours a week, sometimes they would beg to have your income, they should work for it. I agree. If they want that job, they should work to go get that job. For sure. But that's a little easier said than done. You are in a position where you are childless and you're single.

[B]

You.

[A]

Other people have harder obstacles. If they put their life on hold to go to school, they might not be able to pay for their kids ability to, you know, get school supplies or in a sports program, whatever it is. You are in a mortgage situation. If someone else is in a mortgage situation, how do they pay for that? If they put their income on hold to go to school, it's easier said than done.

[B]

Yeah, I went to work full time. I went to school full time. I mean, it's doable.

[A]

It's not. Again, without kids and stuff. Other people, people at 30. At 30, 29, it's a little harder. I'm not saying. Oh, trust me, people should. If people want to do it, you're right. They should work for it. I'm not jacking them off, you know, but still, people out there wish they had your income. And look what you're doing with it. It's a joke. You could be living such a good life and you're choosing to live a life and I don't understand why. The soap factory. Venue.

[B]

Twice the venue. Yeah.

[A]

Great. So two concerts, I got two drinks.

[B]

That's it.

[A]

Two concerts this month. But we can't do our laundry. It's so easy to just throw it in, let it go without.

[B]

It's the folding and putting it away.

[A]

Don't fold it and put it away. Hang it up.

[B]

That too.

[A]

That's quick and easy. It's awful quick and easy. I'm a lazy little and I do that.

[B]

I mean, you wear black T shirts.

[A]

I wear a lot more than this. I don't wear as fruity as that, but I've been wearing more collars.

[B]

I'm proud of you.

[A]

Thank you.

[B]

You're doing great.

[A]

Even still, I. I'm confused how folding up this versus folding up that is, or hanging it is much more complicated.

[B]

Buttons. I'm just saying it's a lot of laundry is a lot of work. And it's. It's the one chore I really don't like.

[A]

It's really not. I understand not liking it, but it is not a lot of work for a single dude.

[B]

I'm sorry. When you've. When you live in the closet, you build up a wardrobe and it just keeps expanding when you get older.

[A]

That is the gayest excuse I've ever heard in my life.

[B]

I mean, it's true. I have a lot of clothes.

[A]

Yeah, but you can get rid of clothes and you're not wearing all your clothes. You have a lot of clothes. You're not wearing them all every week. So it doesn't make sense for your laundry situation. Just because you're owning clothes doesn't mean your laundry is high. It's based on what you wear.

[B]

Yeah.

[A]

It's also based on how big that stack of unwashed clothes gets. Before he decided to not be a lazy piece of.

[B]

I mean, I do live alone, so I get to it when I get to it. Or I have somebody else. Yes.

[A]

And look how that's working. It's going so well. Riches.

[B]

What's that?

[A]

I don't know. You tell me. In San Diego.

[B]

Oh, I'm not sure. I was on a work trip, so.

[A]

So you're blacked out again.

[B]

I mean reimbursed.

[A]

So really go into the bar there.

[B]

Yeah, it's a business development.

[A]

Yeah.

[B]

No, I'm not even joking.

[A]

I know you're not. I think it's a joke.

[B]

Oh, it's not. Not in my industry.

[A]

No, it's not. But I think it's a joke.

[B]

I'm not joking.

[A]

I know you're not, but it is a joke.

[B]

Why do you think it's a joke?

[A]

Because it's stupid.

[B]

Okay.

[A]

Went in and got some. Went in and got some. Tom Thumb, Einstein Bros. Poolside DJ set. So here's a third. One third One third one. Can't do our laundry. More DJ set. I'll do it. Club. Went to the club. Can't do laundry. Door dashing, doordashing. Gong Cha 7 11. Went and got some bull. SoundCloud Monthly. Who the does that? It was Spotify, which I'm. I'm not even digging in on as much these days, but SoundCloud Monthly. What the are you doing?

[B]

Hobbies.

[A]

So our hobby is paying for SoundCloud monthly.

[B]

So I. I DJ when I'm not working at a law firm.

[A]

Good. So we have time to dj, but we can't do our own laundry again. Priorities.

[B]

Yes, that is a priority.

[A]

It shouldn't be.

[B]

It sparks joy.

[A]

Huh?

[B]

It sparks joy.

[A]

Sure doesn't clean clothes.

[B]

Yes, that's why I have somebody else do it.

[A]

How much you spend? That is not a cheap hobby, man. People get in the equipment world hard. I've come from the music world. I know how expensive this can get. How much have you spent on DJ?

[B]

We're probably around 10 grand. 10 grand?

[A]

Yeah. New control alone, you just spent 3,300. Oh, what is your life? Why have an emergency funder be able to pay our mortgage on time when we can spend 3,300 on a new controller? I bet your beats aren't even good.

[B]

You should come to one of my gigs.

[A]

No. I will never be seen. Yeah.

[B]

Oh.

[A]

Door dash. Door dash. Gongcha. Went and got some B.S. went and got some B.S. there's just on cloud Monthly Grand King Spa. So we have time to go to the spa, but we can't do laundry. Lots of time to do pretty much anything but basic chores. Vicki's gardening.

[B]

I had some plants to put in my landscaping.

[A]

Right, so we're landscaping, but we're not doing laundry. Dude, this is so stupid. Winning got some BS Guarding again. Oh, my gosh. The statement is. The statement is insane. The statement is insane. Winning got some BS Pressed Uptown Plaza, DJ Pool when it got some BS UBI Doobie. UBI Doobie Doobie. I'm sure it is. What is this? Number six and you still haven't done laundry? Oh, winning got some B.S. dJ City number seven. But we. No, that's a subscription. West Enterprises, Ubidubi, Ooby Doobie. So that's number seven. Renaissance. Tom Thumb Beat.

[B]

That's a grocery store.

[A]

Panera Bread. Yeah. Well, you went in there, buddy, and you spent $9. I know for a fact you weren't getting groceries.

[B]

Oh, Red Bull and Snack.

[A]

Yes, Red Bull and a snack. Went and got some BS DFW Branch shop. Went and got some BS Univision Shop, I think Amazon. Vending machine. Music Mate. Vending machine. Spotify, UberEats, Beatport cap cut. For what?

[B]

I don't even know.

[A]

Oh, for sake. Oh, you have lifestyle inflated beyond. Beyond what you could possibly handle. And good luck coming back down to earth, man. Dropbox. He pays for that as well. 360 Market. Racetrack after Hours Video. What even is that? It's 114 bucks.

[B]

It's an adult shop.

[A]

What are you getting?

[B]

What do you get at an adult shop?

[A]

I don't know. What are you getting?

[B]

Wouldn't you like to know?

[A]

That's why I asked. What do you think your question is?

[B]

What did I get? Just twice.

[A]

Another concert. Sake, man. See? Tickets and Seagull's beverages. You've had a late fee this far. The year so far.

[B]

I'm sorry?

[A]

You've had a late fee this year?

[B]

Had a couple.

[A]

The slippery road that he doesn't seem to understand is slipping.

[B]

I mean, obviously I don't want A late fee. And most of the time I get.

[A]

It right, buddy, we're not even fully halfway through the year yet. And you said a few. You. You're choosing all that, the Red Bull and a snack. Then you're late.

[B]

I don't know how those two have anything to do with each other, but what are you.

[A]

Buddy, if you're going out blowing all your money and your minimum payment is so high that you are too afraid to put something on an automatic payment.

[B]

I'm not afraid to make a payment.

[A]

You're too afraid to put it on an automatic payment because it is so chunky.

[B]

You refuse to listen to the idea that I don't. I don't get paid on a consistent schedule. I don't get paid in aligned with the due date of every single bill in my mortgage statement, so I don't have everything on autopay. Sorry.

[A]

If you're budgeting like a big boy and not blowing all your money, your minimum monthly payments wouldn't be so high that you're not afraid that they can be on a minimum monthly payment that you are having on an automatic payment. Shopping is hard, right?

[B]

But I found a better way.

[A]

Stitch Fix online Personal styling makes it easy. I just give my stylist my size.

[B]

Style, and budget preferences. I order boxes when I want and.

[A]

How I want, no subscription required.

[B]

And he sends just for me, pieces.

[A]

Plus outfit recommendations and styling tips.

[B]

I keep what works and send back the rest.

[A]

It's so easy. Make style easy. Get started [e-mail] Spotify. That's stitchfix.com Spotify. You shouldn't be afraid if you budget properly. Your minimum payment shouldn't be so high that you're afraid of an automatic payment if you're not spending all your money. What are you talking about? Where's this logic?

[B]

I don't know. You know more than me about this, I guess.

[A]

Buddy, this isn't complex stuff. This is a very basic show. Very basic show. I yell, I goon, I roast. And we talk about basic finances. Come on. They ask you how you are, you just have to say that you're fine.

[B]

When you're not really fine, but you.

[A]

Just can't get into it saying, I'm not listening to your logic. I understand your logic. Your logic's flawed. Your logic, moronic. It's you blowing all your money until you're maxed out.

[B]

All right, well, that's where. Where I. That's my perspective.

[A]

Your perspective. And if we have a flawed thinking.

[B]

Maybe that's my Flawed thinking. I don't know if I'm just telling you where I'm coming from. You don't seem to accept that.

[A]

So if we have. But the thing is, if we have flawed thinking or flawed perspect, that's when we change it.

[B]

All right. Teach me your ways, sir.

[A]

Teach me your ways. I just did. If you're budgeting properly and not blowing at all on snacks and Red Bull, that's that easy. You budget and you don't blow all your money. Your minimum payment gets lower, you start paying it, and you can put it on automatic, and you budget properly and you won't be afraid when they hit. I don't know. I'm sorry. I'm sorry. I don't understand the complexities. Maybe you can tell me where you're confused on that. Let me be real with you. You can't fix your finances if you're running on four hours of garbage sleep every night. And I'm not talking about staying up late grinding. I'm talking about tossing and turning, overheating, waking up more tired than you went to bed. That used to be me until I tried eight Sleep. Their Pod FI system completely changed how I sleep. It's a smart cover that goes over your existing mattress, tracks your sleep, adjusts the temper of each side of the bed automatically throughout the night, and shows your sleep score backed by biometric data in the morning. No waking up in a sweat, no flipping the pillow 10 times, just actual rest. And look, if you're someone who's trying to get your life together, whether it's budgeting side hustles, whatever, you need good sleep. Otherwise, you're running on fumes, trying to make smart decisions. And right now, Eight Sleep's giving $350 off the Pod 5 Ultra and $200 off the Pod 5 Core. Just use code HAMMER at checkout. Go to Eight Sleep.com hammer again, that is Eight Sleep.com hammer and use code Hammer. This is one of the few upgrades I made that actually paid off. So if you're serious about changing your life, start by getting some real sleep.

[B]

I'm not confused. I'm just telling you where my mind was at. Where I'm at. Where? Like, where I'm at. So that's. That's it?

[A]

Yeah, but you can change your thinking. I mean, you're having late fees again.

[B]

That's why I'm here. I mean, I'm trying to. Yes, yes. There were first steps is acknowledging a problem.

[A]

Second card. This is another city advantage. No.

[B]

Yeah, I like the Travel benefits, which.

[A]

Is completely negated by all the interest that is accruing. So I don't really understand.

[B]

I don't know. It's paying for my trip next month.

[A]

Yeah, and you've more than paid for your trip in the amount of interest you've given them.

[B]

I still enjoy it.

[A]

Okay, but you could have paid for it, plus maybe a first class ticket if you weren't giving them all money and interest.

[B]

First class.

[A]

I'm saying you. The money would have stretched further.

[B]

Okay, gotcha.

[A]

What do you. Where are you going?

[B]

Even Tomorrowland in Belgium.

[A]

You. You have maxed out credit cards. You are behind on your mortgage, and you're going to Belgium.

[B]

What?

[A]

You are prioritizing the wrong things. You are living such a delusional life. You are going to be the wealthy person that loses it all in everything. You could be so wealthy. You could be so wealthy. You could. I don't know why you accept this life. No Wonder he left $5093.99 with a minimum monthly payment of $224.11. You purchased again $1454 on this one. $73 of interest was accruing. Is accruing. You're also going to Peru later this year. My dude. My absolute. What are we doing? I have a wedding. All right. You're getting married?

[B]

No.

[A]

Then I don't care. You don't. You can't afford it. It's as simple as that. Destination wedding. Some people, if someone picks a destination wedding, they have to accept that not everyone can afford to go.

[B]

It's Machu Picchu. Once in a lifetime.

[A]

No, no. You make a lot of money. You can go multiple times in a lifetime.

[B]

I don't want to go.

[A]

Sometimes you can go one time later.

[B]

I want to go with my friends and celebrate. Max out wedding debt.

[A]

Couldn't even sell your house right now. You'd be underwater.

[B]

I. I told you, I'm dying in my house.

[A]

Yeah, but if, in case of an emergency, laid off, you would rather sell it than get foreclosed on.

[B]

Yes. Of course.

[A]

You wouldn't be able to sell it after commissions and fees and everything. No, you'd be.

[B]

Dude, I feel like the. The I'm scared points have kind of made it easy. I mean, the points paid for all the travel.

[A]

Shut the, dude. Yes, but you have paid more in interest. How do you think they make money? They're not a charity organization handing out free travel. Zatio 5th Fireside Select Start Arcade. Arcade, Arcade, Grand King Spa, Water Burger, Paxton, Beneficia, Yolk.

[B]

Main Brunch.

[A]

Great. All this while we're paying for laundry again. Stk. Papa Docs, by the way, Laundry services. Someone comes and picks up the laundry, washes in and brings it back. Back. Well done.

[B]

That's.

[A]

I'm letting them know because why the would people know that? I only learned about this a month ago when someone suggested to me who the knows these things? Like it's not. He's not going to a laundry place. They're coming and babying him. Papa Docs. Dj Sweet. RSV complex. RSV complex. Thirsty Beaver, Water Burger, Taco Bell. Burger King, Panda, Pagoda, Coin op. North pa. I don't know. Observatory North. Riches, riches. Riches. Drink, drink, drink. Or a development business. A late fee this year as well on this card.

[B]

I'm telling you.

[A]

What the are we doing this month?

[B]

I was just distracted.

[A]

Every month it apparently seems because it's the three month.

[B]

Because I don't get lay fees every month.

[A]

It wasn't this month though. But you were late on your mortgage this last month.

[B]

So you have had all the same cycle.

[A]

No, this is. I'm saying this year so far. It wasn't this last month. It wasn't this last month. You've had multiple months within this year.

[B]

Are you looking at interest?

[A]

Oh my. I'm saying fees. Late fees, buddy. Mortgage is behind this most recent month early in this year, this was behind. Earlier in this year, another one was behind. You are having multiple times throughout just the six months we have been existing this year where you have been late.

[B]

All right, but did you see the payment I made the day after? Because I knew that I missed the payment. I was like, oh, let me pick that up.

[A]

You're paying fees because of it. Look how you're managing.

[B]

That's the consequences of my actions.

[A]

No, it's the consequences of credit cards. You're not a credit card person. Why would you possibly use credit cards?

[B]

Because I used to be really good.

[A]

At it doesn't matter. You're not. I don't care.

[B]

I mean, I've just kind of gotten in a cycle.

[A]

A murderer used to not murder. And then they murdered. We should probably put them in prison. They're probably because they're a murderer now. Listen, you're bad at credit cards. This is a tool that you are. It's a tool just like a hammer, but you're swinging back and in yourself in the head.

[B]

I mean, I used to pay pay. I used to be really good. You know, pay it off by the due date in Full. You know? Okay, I. I don't. I. And then I got in a cycle. I got carried away and.

[A]

Yeah, which is where you are. So why would we still use credit cards? I used to.

[B]

Well, because, you know, when you get into the cycle of using credit cards for everything, then all your payments need to go to the credit cards, and then you don't have anything on your check.

[A]

I understand how that works.

[B]

So you're asking, how do I. Why. Why am I still using them? Because I'm in a cycle and I don't know how to get out of it.

[A]

Buddy, all you're spending on here has been bullshit. You don't have to spend this money on this stuff. If it was necessities, that'd be a different conversation.

[B]

Never looked at it that way.

[A]

Okay, well, either way, buddy, listen. If you used to be a bad person, you no longer are. I'm not treating you as a bad person. You turned your life around. Okay, okay. It's not tik tok where we punish people forever. Okay? You used to be a credit card person. Now you're not. I'm not going to treat you as a credit card person because you were. You are not. Right now. That's all I care about. I see what happened. What was the turning point where you were like, okay, I was paying them all off, and all of a sudden, not.

[B]

I don't know, the credit, they're. They're good at what they do. They give you all these intro offers and they let you carry balances, and there's like zero percent for such a long time. And then it sneaks up on you. And then they have these, like, built in with a credit card. They're like, oh, do you want to take six months to pay this large purchase off? And. And sometimes I do that. It's like. And then all that expires, and here we are. I don't know. There's a lot of reasons.

[A]

A lot of reasons other than you just being like, oh, I'm bad with money.

[B]

Yeah, I've had that realization. Yeah.

[A]

All the reasons you gave were everything outside of you and what you're doing. Deflection. Deflection. No accountability. How do you get it far in life without accountability? I don't know, man. You gotta change. You got to realize what you've done is wrong.

[B]

I mean, honestly, I'm not accountable to anybody.

[A]

But you should be, at least to yourself.

[B]

That's fair.

[A]

Also, you're accountable to your boss. What the are you talking about? You're also accounted to Accountable to the city to pay your property taxes, which I do. Exactly. You're accountable. Accountable to the bank to pay your mortgage.

[B]

I just don't.

[A]

Yeah, but, but it's a lie. You are accountable to many people, man. That's just incorrect. If your worldview is there, we need to correct it real quick because he ain't just walking around not owing anyone anything.

[B]

That's not my worldview. I'm just saying that's, that's part of the problem. I mean, I, I just, I love.

[A]

The moment he gets called.

[B]

Excuse me. I don't have self discipline all the time. I'm, I'm impulsive. I, I, I, I don't. Am I giving you the answer? Answers like, this is. I'm trying to tell you how I got in here.

[A]

This is why I love it. Again, this is the, this is his answer that he gives for everything. He says something that is, like, objectively a bad worldview. I call him out on it. He's like, oh, but that's what I was thinking. You just told me you're accountable to no one, and now you're saying, oh, that was just past me thinking.

[B]

No, I said I am an impulsive person.

[A]

You said you're accountable to no one.

[B]

The two are not mutually exclusive.

[A]

But that's what I was talking about. That's what I was having a conversation about. Unless you're having a different conversation.

[B]

I don't know. Excuse me.

[A]

You're dying. Don't die.

[B]

Air. All right.

[A]

You okay?

[B]

I'm okay. Yeah.

[A]

You still got coke eyes. So I don't know. Cocaine? No.

[B]

Flower. I didn't sleep well last night.

[A]

A little nervous. Little nervous guy.

[B]

Yeah, yeah, yeah.

[A]

That's okay. I'd be nervous, too. I get it. Next is a slate card. Oh, good. We paid $500 towards it. Then I spent 3,083. I don't understand the point. You have $4,535.19 with $145 minimum payment. These minimums are stacking. No wonder we're late on would have thought. It's not a disorganization, it's. You have stacked your minimum monthly payments so high that they're hard to afford. 15 years to pay off minimum solely without any purchases. Oh, here's a $40 fee. Yeah. So this most recent month on this one was a late payment. Multiple months throughout the year. Four accounts so far, all behind schedule. I'd vibe with your logic if you at least made something on time, but so far you haven't. It's Been completely.

[B]

It was a bad month.

[A]

No, no. But the other ones were from previous month.

[B]

Months.

[A]

So every month's been a bad month according to you?

[B]

No.

[A]

No.

[B]

Okay, think what you want.

[A]

What are you talking about? Again, on the other, the two are.

[B]

In the same month.

[A]

No, you tit. You're not listening.

[B]

I don't know what you're looking at because this makes no sense to me. I don't make late payments every month. I don't incur late fees every month.

[A]

But we've had.

[B]

But that's what sounds like it.

[A]

We've had four this year so far. Okay. One from the small space. Your month. This. This one.

[B]

Right.

[A]

This statement is from the most recent month. And you had a fee on this statement for not paying on time. Your mortgage was behind from this most recent month. Okay, good. We got that same. Yes. From those two. The two credit cards that we talked about before this. The fees happened earlier this year. Not this most recent month. Earlier this year. So you have been late at least twice.

[B]

A couple times. We've established this. I don't know why you keep saying it like. Yes, I know.

[A]

Because you just said it was a hard month, suggesting that everything has been this last month.

[B]

No, I'm not suggesting that at all.

[A]

Oh, my gosh.

[B]

I'm saying I've been late a couple times and you keep repeating it. I don't know what else to tell you. Yes, you're right.

[A]

And why say this was a hard month? You're only looking at this last month's statements.

[B]

I'm just saying it's not something that I've. That is a regular thing for me.

[A]

Four times this year. It's been six months. I don't know what you're talking about.

[B]

Maybe twice. I don't know. Maybe two months.

[A]

Four. I missed four statements of this.

[B]

Maybe we're looking at two. We're looking at it differently. Different. Different ways.

[A]

I'm just looking at the statements, but.

[B]

Yes, I understand. You're looking at it account by account. I look at things month by month. Okay.

[A]

Okay.

[B]

And.

[A]

And you can't tell me what months from your two. The. The two city advantages that you relayed on. Would you even know?

[B]

No, I don't.

[A]

So you. So you're not looking at things month by month, but generally when I'm late.

[B]

On one, if I'm late on a credit card, there's a good chance I might be late on something else in that same month.

[A]

It just happens. Happens. But you don't know when you were late just Like a couple months ago. Like I would. I would know it. That's not memorizing. That's just that happened so.

[B]

You know we dedicate our memory to different things.

[A]

Yeah, but that's a simple one. That is a very simple thing.

[B]

Very simple. I'm just saying by and large, the majority of the time I'm not late. And majority of the time it happens. Whatever.

[A]

Four and six months. That's a majority. Apple Bill. Apple Bill. Roku for Disney. Apple Bill. Main Street Bakery. Apple Bill. Faded and co. Beep. Port. Be Port. The amount you're spending on this music is insane. Instead of actually paying off our debt. What the. Apple Best Buy Guitar Center. Ikea, Wendy's Guitar Center. $563. Come on. Amazon. Apple Built Art Nail Spa. They look like nails. Use a clipper, dude. Urgency. Bd Hookah Door Dash. Pass. Striking real Insomnia cookies. Going in. Getting some BS Insomnia cookies. Striking real Singles beverages. So you are trying to get back out there, I see.

[B]

I'm sorry. Sorry.

[A]

Singles beverages.

[B]

It's a liquor store.

[A]

Oh, for singles.

[B]

No. Seagulls.

[A]

Seagulls? What were you going to say?

[B]

No, I. Insomnia cookies. I sent my dad some cookies for Father's Day.

[A]

You can't afford it. You have two different gym memberships. Why? One for cruising, one for working out.

[B]

That's funny. No, I.

[A]

Gold Gym, ladies and gentlemen. 1. That's what they're known for.

[B]

Really? Guess I'll have to get a third.

[A]

I don't know. My video editor used to go to the one downtown. He said men were always trying to get a little glucky. Glucky?

[B]

I just need to go into the LA Fitness and cancel that one. I just haven't do it.

[A]

There so many easy things that you're able to do. Just even save a little bit that would at least allow you to like. It's not what I want you to do. But at least you'd be able to spend that money on something more beneficial to you. More fun. Like. I would rather put it towards debt and budget. But even still, just you'd be able to. You've had three late fees on this card alone this year so far. Yes. Really, buddy? What the F. You're right. 3 out of 6 isn't technically a majority. But it is half the are we doing. What the f Are we doing, buddy? You can't be trusted to make payments on your own without automatics. You can't. You can't. You. You're not disciplined, you're immature. Financially, me, this is. You're spending so much on late free fees accruing like mad interest like crazy at a 27.24% interest rate. Can you pull out your phone for me? You have two phones?

[B]

Yeah, one's a work phone.

[A]

Are there subscriptions on that?

[B]

No, I don't pay for that. That's work issued and all that.

[A]

Do you have Botox?

[B]

Yeah, I used to get it.

[A]

I'm considering it, but I don't really move my upper forehead. That's why I don't have any lines.

[B]

You also have hair, like.

[A]

Yeah, but I could change my hairstyle at some point. That being said, I do have a little less and a little less so. But I noticed your forehead's not moving. You got Apple One ChatGPT, but that is expiring Cord butter. Easy songwriting.

[B]

I don't know. It is expiring icloud all the time.

[A]

Snapchat plus.

[B]

When is that still active?

[A]

It's expiring. But the fact that you actually did it. And of course you have this one here and then Roomster, X Walkie talkie rattle. Yeah, you get so much balance Premium. I room it. Are those Roommate Finder? No, these ones are canceled. But just see what you've had. LinkedIn, Max, Disney Plus Grinder, Apple, Canva, Hulu. You were trying to get back out there, at least in September. What happened, buddy? Why don't you stop trying to get back out there?

[B]

Well, there's a difference between getting out there and looking for a relationship and looking for a good time.

[A]

So as many of you know, I've been a big supporter of Course Careers for a long time. I'm not just a partner. I actually own stock. And I'm an investor. So why did I partner with Course Careers? Because I truly believe in what they're doing. A lot of people have questions about online certifications versus traditional college degrees. Let me be clear. I wouldn't put my name behind something unless I knew it worked. The thing is, not everyone has the time or resources to spend four years in college or take on massive student loan debt. Course Careers offers a practical, affordable way to launch a career in a high demand field like tech, sales, IT and accounting, where companies are hiring based on the skills needed, not broad college degrees. In fact, right now, one in three companies are dropping degree requirements, and that number is only going to continue to grow. I know some people think online programs are a quick fix, but that's not the case here. Coursecareers takes effort and commitment, but they provide you with a Streamlined, proven path. They offer up to date self paced courses, one on one, or group coaching from people that work in the industry. And most importantly, they help you actually get hired. Just look at graduates like Nemeso who went from driving FedEx trucks to a cybersecurity job at Disney. That didn't happen by chance. He put in the work and course careers guided him every step of the way. And what truly sets course careers apart is that it's not just about learning skills, about landing a job. Their curriculum is designed based on what employers actually need. And their network of industry coaches will guide you through the entire process, from learning the skills to interviewing, resume help and beyond. So if you're serious about starting a new career without wasting years or piling up debt, give coursecareers a try. Start with their free intro course linked in the description to explore your options. And when you're ready, use the link in the description for $50 off the full course. Your future starts right now and coursecareers is here to help you shape. Okay, I have a Amex, but I don't have a statement for it.

[B]

That's not mine. I. I was an authorized user on my ex's account and I. I didn't realize I was on my credit report. I had no idea I was authorized user.

[A]

When did you become an authorized user? How old are you?

[B]

A couple years ago.

[A]

Couple years ago. Okay, if you're a 21, little immature, I can understand that.

[B]

Doesn't matter. I'll call and get it removed.

[A]

Why does it matter? Because you got on a couple years ago. You should have known better. 27. As an authorized user, you didn't at least look up what it would be. Because you can look anything up. You had a chat GPT subscription. I know you're able to do a.

[B]

Little bit of that.

[A]

How does this affect my credit? I don't know. I mean, you want to be informed on the decisions you do. Yeah. If he doesn't it up, I see a balance of 979.

[B]

But if I. I mean. Well, that's not good. Yeah, I'll dispute that.

[A]

At least he's making dispute it. No, you're an authorized user.

[B]

No, I can remove it it.

[A]

Yeah, and you need to.

[B]

All right, then I'll do that.

[A]

But you have.

[B]

I didn't know it was there.

[A]

You sent it to me.

[B]

Okay, but how many pages was that credit report? 60.

[A]

You don't look at things. No, buddy. These are under your account section. You. I don't generally.

[B]

I. I generally don't look at my credit report. You know why?

[A]

Why?

[B]

Because there's never any late payments reported to it.

[A]

That's all you care about.

[B]

If I'm not. If I don't have negative credit history, then why would I be so hyper.

[A]

Fixated about my credit report being hyper fixated? But you've had this for a couple years. You've never look your accounts once.

[B]

So I have no desire to open more credit. So why. Why am I good?

[A]

Like that's. That's the same thing. Thank you. I appreciate.

[B]

So why would I look at my credit report?

[A]

I'm just saying. Listen, you sent this to me. You. You were authorized. You are an authorized user on his account and you did not know what the impact of that was.

[B]

Well, I. I didn't. I didn't know that I was on there at all.

[A]

That being said though, buddy.

[B]

Like, if.

[A]

You do care at all, this being removed will be in an account removed from your credit. So it might slightly hurt your credit if this has been managed correctly. But it is also risky to have someone else. So I would still rather. But it is going to potentially lower the age of your credit, which will kind of suck for your credit score.

[B]

It'll bounce back eventually. I mean, eventually.

[A]

But this is just something to be be informed about. I'm not going to add that into your debt situation. I would definitely get on the website for sure though.

[B]

I'll take care of it.

[A]

Huh?

[B]

I'll take care of it.

[A]

Okay. TD car through td. Okay. I love that the one account that wasn't passed through is someone else's account. But we're passing through the car. You better believe it. You better believe it. Jeez. What is the car, dude?

[B]

I'm sorry.

[A]

What is the car?

[B]

Oh, I drive a Ford Bronco.

[A]

$32,444.23. The minimum payment is 790, but of course we owe 1580 because we're behind. What the are we doing, man? What is the interest rate on this?

[B]

It's probably like, I think seven.

[A]

Okay, that's not great. No, it's not like I'm gonna vomit, but it's definitely not great. Take that. I mean that's barely competing with the market. Throwing the money in the market it. But taking depreciation. You're definitely losing on this. It's worth a few hundred bucks less private sale, not trade in private sale than you owe on it. So it's not great. It would be hard to get out of. But honestly, one thing I would consider doing. If we really care about paying off our debt. One thing I'd consider doing is selling this private sale, getting $10,000 car and getting a $10,000 loan on that, getting that car. Don't trust me, I know the first thing you're going to say is, oh, it's going to be a beater. It's going to be.

[B]

No, I was literally, you take it.

[A]

You get it approved by multiple mechanics before you purchase it that you're not going to have to pump a lot of money into is going to be safe for a few years. That would be a quick way to one, eliminate the chunkiest debt so far for sure. Except for the mortgage, obviously, but that would. And also just our minimum monthly payment would be lower and that allows us to throw more money at the other debt. The fact is you can afford this. This is relatively fine. If all that other stuff didn't exist because that all this stuff exists. And you can't just sell a credit card card to pay off a credit card. You need to sell this car and throw everything we can at the other day and then you can get even a nicer car, honestly, if you want to after that. But it's the sacrifices now for a better future.

[B]

I'm open to it.

[A]

You're actually open to that?

[B]

Oh, yeah.

[A]

I appreciate that.

[B]

I hate it here. This car, like, I love my car, but like I used to have like a Ford Ranger that had a 0% interest rate. I loved it.

[A]

Well, how happen.

[B]

I totaled it.

[A]

Okay. And did you have Gap?

[B]

I had. I didn't have Gap, but I had a lot of equity.

[A]

Yeah.

[B]

And around with that. But that's a whole different story. But I mean, I. This car, I kind of was bought out of necessity and just had to take what I got as far as interest goes. I mean.

[A]

And you didn't use the equity from that last car. Where'd it go?

[B]

Credit card.

[A]

Which. We know how that works.

[B]

Yes.

[A]

Again, this is same thing with putting your tax refund on it. Same with putting the equity on it. Same with bankruptcy. Same with credit card consolidation. Someone like you that is incapable of changing their behavior yet, and I hope you do, but someone who has not shown any indication of being able to change their behavior because you spent more than your higher income month because of the tax return and you're late on everything. You can't do any of those shortcuts. You shouldn't have put your tax return to that yet. I would have just put that in an account and let it sit until you fixed your behavior and then throw your tax Return towards it because. Because if you do not change your behavior, you're going to end up like everyone that's been on the show. After bankruptcy or consolidation, you're going to be right back in that position. And guess what you did. You do the tax return, Anna, and then you spent $2,500 more than you even put towards the card. This is what happens. Use the equity from that card, use the tax return. You use bankruptcy, whatever. You do it just immediately because you did not change behavior. Why are we past due on a car? A car that's not even completely honestly.

[B]

Why I missed the payment.

[A]

This is every account besides your ex's account has been late this year at some point. Like what are we doing? This doesn't make sense. You have such a privileged position and you're throwing it away. How long have you been making this good of an income?

[B]

Come two, three years.

[A]

I'm sure part of it was lifestyle inflation. But you're too far in. You're too far in, buddy. You. You are 29. There's no excuse for immaturity. You should be learning how to budget. I don't understand. Of course we're going to get you set up with the premium version of our budgeting app. We're going to put you in our servers, Dollar Central, where you get all of our classes as well, which teach you how to budget investors get real estate, which at least you did that first part. But in our class we would have taught you not to do what you did and you wouldn't be in a position. You go through all the classes because you should be budgeting at 29. I'm concerned that you dealt with that. You haven't even attempted. It's scary. Student loans, Chunky. How many student loans?

[B]

20 grand.

[A]

And your payment on your student loans, like 150 maybe.

[B]

Maybe.

[A]

Okay. It's a bit lower than I think. Why?

[B]

I mean it's the cheapest debt I have, so I figure why rush to pay it off?

[A]

Is that the standard 10 year payment though?

[B]

I don't know. I think it, I think it. I think I did stretch out the payments.

[A]

Why though? Why would you do that? Cuz you're just going to be paying more in interest. I would just use the standard 10.

[B]

Well, the interest is nominal and it comes out in the taxes.

[A]

I can kind of vibe with that relatively comes out on the taxes at your income.

[B]

I mean the last tax return I believe did you push for was deducted. I believe. I think there's.

[A]

You're like at that Threshold. I mean if you make as much.

[B]

As you said it might have been. I mean you have my bank statement.

[A]

No, the total. The total yearly. Yeah.

[B]

Yeah. I mean it might have been a timing thing like, but I don't know.

[A]

I'm seeing student loans. 17,343. Yeah. I would have guessed it would have been closer to about 2,2 50 in the 10 year. I mean I'm okay. Student loans a little more on the back burner in general. Interest wise. It makes sense. But I would at least just do the 10 year payment. Just get it taken care of because 10 years is still a long time and we don't want to have debt over our head. It makes it harder for us to do so many things in life. It's risk.

[B]

Yeah.

[A]

Though it is one of the least risky deaths because there's a lot more flexibility when it comes to like losing a job or something. Why are you even here? Why are you on the show? In your perspective, what are you trying to do?

[B]

So my best friend told me that I had to be on the show.

[A]

Really?

[B]

Yeah, I mean we talk every day. I don't know because she, I guess she's a big fan of yours. I just found out about you about like a week ago.

[A]

But she looked at you and she's like go on the show. Why Guy from your conversations with her, other than just being a fan, she looked at you and determined. Yeah. You got to go over there.

[B]

Well, she's got the best in mind for me. I mean she's, she's the one who told me to buy out my ex to the house. She's like, she, she, she. I take a lot of advice from her.

[A]

Okay. Do you think want to get bought out of the house?

[B]

No, he didn't, he was, he was a. About it.

[A]

Was it a. Did it make sense at the time? Because I would agree in general to get him out, but you had to take out some weird debts to get there.

[B]

It did. It was definitely not traditional. He didn't want it because he was like, well you know, he didn't want me to have the house cuz he's like, well what do I get out of this like relationship? Well, the equity that you put in, you had in the house that's giving you money. So. But so he's just being petty.

[A]

Bad breakup?

[B]

Yeah. I mean. Yeah. What, what breakup is good?

[A]

I have a good breakup last year.

[B]

Year must be nice.

[A]

It was nice. Well, I mean it's not nice to break up.

[B]

I guess the gays don't break up very well.

[A]

Okay.

[B]

Drama.

[A]

Sure. But I'm sure he's found a nice new twink now behind, right?

[B]

Yeah, he's imported one. They're legally somebody else's problem. See, they're married very quickly. Anywho, the gay men have the lowest divorce rate. I wish more. Well, do you.

[A]

What does your friend tell you? Quite often you guys have these conversations around money.

[B]

What is your. She basically like.

[A]

Bet she's not as I am.

[B]

She's. She's basically like a. A female version of you. She a little bit toned down.

[A]

Little toned down. I was going to say, cuz I'm.

[B]

A. Yeah, she's a little bit more nice. Nice.

[A]

Yeah.

[B]

Yeah.

[A]

Well, most are. I accept that.

[B]

Yeah.

[A]

But what she. What does she say you should do here?

[B]

I mean, budget.

[A]

Okay. That's it. Has she done the deep dive?

[B]

I mean, she, I, I. Everything I sent to y', all, I sent to her. And she's like, well, yeah. This is a disaster.

[A]

Is it embarrassing?

[B]

It is.

[A]

Listen, 277,000 is your mortgage. Mortgage. But your total Debt pile is 415. I know.

[B]

She's like, since you have almost half a million dollars in debt.

[A]

Yeah, but half of it's. Your mortgage is chunky. But it's really only half still.

[B]

Right.

[A]

Like, that's crazy. Your checking account, I mean, this is. I mean, 2000. I'm at least glad that's in there. The only automatic payment. It wouldn't. Well, it would technically be able to afford every minimum payment if you put them on automatic. Not at the same time, but if any of them were to hit, I guess your mortgage by $1 and $0.01 and $0.04.

[B]

My. I guess maybe my thing with the minimum payments is like, I don't make minimum payments. I'm always making more than that.

[A]

That is not what we. Come on, buddy. That is not what was seen in these statements.

[B]

Well, no, I'm spending more like, yes, the credit cards.

[A]

You put more than your minimum payment, but then you spent more than you put. Put on it. So it's like.

[B]

But that's what I'm saying is my bank account. My bank account is. Is empty at that point. Or like.

[A]

And if we are doing something and it's never working out, what do we do? Yeah. Try something different. And why aren't you then. Why haven't you sat down and tried to figure out what the.

[B]

I get overwhelmed. Because it's.

[A]

You're working legal, though. You're working overwhelming.

[B]

I'm really good at solving Other people's problems.

[A]

And then when it comes to your own, you just freak out.

[B]

Yeah.

[A]

Go to therapy then. I don't know.

[B]

Maybe I should. You know what? No.

[A]

Cash App zone. Money out. $255. Zelling. Money out. $62 Zelling. Money out. $30. Sniffies. You paid for Sniffies?

[B]

Yeah.

[A]

So, you know, we at Hammer Media here know what Sniffies is. We love to joke about Sniffies. It is like the craziest. If you go to that website, it is the craziest thing. You see, we had a gooner that worked here once, pure gooner. Love him to death. He just showed us around. Sniffies. Let me tell you, that thing, it is a. It is. You open that website, it is a map full of schlongs that are hanging and flopping around around booty holes. And you just pick which one you want and you go there.

[B]

It's like a buffet.

[A]

It's a buffet. And there's like. There's like, locations where it's like, go to this bathroom and you can come. It's crazy. And you're paying for it. I didn't even know it was a pay for.

[B]

Well, I pay. I. Well, I. I do. So. So that I can hide from people. Like, if I like. You can go. You can, like go in hidden mode. If I'm messaging somebody, I don't want to hear see a bunch of messages from everybody else.

[A]

Dude, this is like a fast track to an std. Sniffies. You're showing up to a picture of a schlong and you're like, that's the one I'm choosing today.

[B]

Prep and Doxy.

[A]

You're using. Yeah, but that. What's the other one?

[B]

Doxy.

[A]

I don't know what that. I know Prep does hiv. What's the other one?

[B]

Doxy is. It's like a post interaction. So it'll prevent syphilis, chlamydia, and gonorrhea.

[A]

Yeah. Does that. Is that. Is it in the antibiotic world?

[B]

Yeah.

[A]

You take two pills, that can't be great though, right? Always hitting yourself with that. That's gonna make you resistance.

[B]

I mean, I'm not around as much as you think I am.

[A]

Well, you're paying for Sniffies. Sniffies. It is the craziest platform.

[B]

Well, you've seen I like to acquire subscriptions, so that was a natural progression.

[A]

So you're just going to San Diego? Work trip. Doing some understalls, doing some hole glory holes and.

[B]

No, I'm a little more classy than that.

[A]

Really? Isn't that. That's all I saw on that app when he was showing. Showing us saving an app. It's like a website because the app store won't even allow it. Right.

[B]

I think they just banned it. Yeah.

[A]

Because it's insane. It's a. It's a. It's a hive. You know what they say of hives.

[B]

Different strokes for different folks.

[A]

Yeah. But this. This entire app is just pictures of people stroking. There are literal. Guys. If you're. If you want trauma, go to that website and you will see.

[B]

We call it trauma. I call it an opportunity.

[A]

You will see. You will see. You will see in progress on that app. Yeah, you will see progress. You will see someone that just posts a picture of their hole and they're like come through. And there's like. Oh my gosh. It was one of the craziest experiences ever.

[B]

And it's hilarious. I'm sorry.

[A]

Should be sorry to your body. Man. That's crazy. That crazy. Man. Man, that's. It's one of the craziest things I've ever witnessed in my life. And you're paying for it. That is wild.

[B]

It's a good investment.

[A]

I never thought I'd see. Is it. It's one of the craziest things I have ever. I never thought I would see it on this show. Wow. Oh. $40 in our savings.

[B]

That's emergency fund.

[A]

Almost enough to pay for sniffing these hsa. I'm glad to see a little bit of money in there. Guess it pays for all your post nut antibiotics. 25,000 hours in retirement. Definitely not even close to where we'd want you to be. We'd want you to be around probably 112,000 right now.

[B]

Really?

[A]

Yeah. Cuz by 30 you should be at minimum one times your retirement.

[B]

Really?

[A]

Okay. Yeah. One times your income for retirement is the traditional thing. And honestly those traditionals usually don't even give you enough. If you want to maintain your lifestyle in retirement. Let's get you a budget. Okay. We know what hits. Your account is $7,583.30 on a monthly basis. Let me get your debts. Wait, I didn't see your other debts that you said you have for this house.

[B]

The home equity loan.

[A]

Where is that?

[B]

I sent it.

[A]

How much is it? How much is owed on it?

[B]

I can pull it up.

[A]

Okay. I do have it in the spreadsheet. I just don't think I have the document. $48,477. What is your minimum monthly payment?

[B]

It's $501.

[A]

Oh, and the 401k loan, is that still active?

[B]

It is, but that's like a 25 payment that comes out of my paycheck.

[A]

No, no, no, no. That's not the scary part. If you lose your job, they can call it due, then they have to pay the whole thing.

[B]

It counts as a withdrawal. And I have to pay taxes on it.

[A]

Yeah, and penalties.

[B]

I mean, it's expensive. Let's not lose the job.

[A]

Well, I'm just. But recessions happen. Law firms close.

[B]

Yeah.

[A]

You know, a lot of things happen. Okay, so again, the home equity is 48,877 what's owed on the 401k loan.

[B]

I think it's on that page, the one that you just tossed. Let me find it.

[A]

Okay.

[B]

It's got a pie chart on it.

[A]

I see the repayment $74, by the way, not $25 per month.

[B]

Okay.

[A]

I don't see the loan specifically, but it's okay.

[B]

Okay.

[A]

It's okay. I don't need to put that in your loan thing. Oh, you're now in target day index fund. That is good. I am happy to see that.

[B]

I don't know what that means.

[A]

It's essentially applying risk based on what year it is close to retirement. You're saying you want to retire around 2060 is the fund you picked. So right now it's going more aggressive as it approaches 2060. It gets more conservative in like bonds. Now, typically index retirement funds do start moving a little heavily towards bonds quicker than most people would suggest. However, for the average person, person that doesn't want to get in and mess with the retirement and a lot of stuff, index retirement funds are good. Average person feels a little too pond heavy, a little too quick in my opinion. And honestly, a lot of Invest CPAs opinions, but it's good for the average person, so I'm okay with that. And that gets you about 65 for retirement. Right. Looks like you still owe $3,821 on the 401k. On the 401k, it's chunky. All right, let me get you a minimum payments. That $501 is substantial. A substantial thing we've missed. That's chunky. So not including your mortgage, your debt, minimum payments alone are $1,810.11, which for your income, non mortgage debt is already 24% of your income. A quarter is going to minimum monthly payments. Now, are we shocked that there's late fees? I'm not, unfortunately, at that point. So we know Your mortgage is 2,117 DOL dollars four cents. Utilities. Gas, electric, Internet, trash, sewer, all that combined. How much on a monthly basis?

[B]

HOAS? 270.

[A]

That's a chunky HOA a month. Wow. For what? It's a neighborhood.

[B]

It's not even a. I mean they do all the landscaping and the amenities.

[A]

And it's just, it's expensive landscaping, let me tell you.

[B]

Welcome to Dallas Us.

[A]

I live in a more expensive city.

[B]

I live in a new development.

[A]

I'm moving to a new development and still it's landscaping is not that I know what it's. Okay, continue.

[B]

Electric, water, trash. Usually around 200amonth. Gas? I would say I would put 40. Internet? 50. Phone?

[A]

No, not phone. Okay, so for utilities. 560. Okay. Now what's your bill?

[B]

One hundred and sixty.

[A]

Chunky. You still owe on your phone.

[B]

Yeah, take.

[A]

You should just be buying your phones, man. It also just, it makes it harder to transfer if you ever want.

[B]

Zero percent is zero percent.

[A]

I know, but it makes it harder to transfer if you want to for a cheaper carrier. Gas. Vroom vroom. Drive. Drive. On a monthly basis.

[B]

2.

[A]

200. 200. 250. 250. Okay. Car insurance.

[B]

285.

[A]

Necessary food. Groceries. 300amonth. Follow the recipes in our budget friendly cookbook. If you need help with meal prep. Meal prep. Meal prep. And yes, you can put in a little time to meal prep. You'll be fine. And buy your in bulk. We can get you 250amonth. I'm giving you an extra 50 for Red Bulls. Blah blah blah, TV fun. Anything else you need? Poppers, all that good stuff. 100amonth medical bills. How much do you need for coast copays? Whatever you do on a monthly basis, just. You have those medications.

[B]

I mean I think my HSA contributions can cover that. Like I, I, I, I don't have a bunch of medical expense. Yeah, after the.

[A]

Okay, that's fine.

[B]

I would say 2500 a year for like. That's because we have have health reimbursement that like lowers the deductible.

[A]

Okay, but you don't take it out of your checking account.

[B]

No.

[A]

Okay. From your hsa, which is getting funneled through your paycheck. And we're talking about your net income so we don't have to worry about that. Okay. So $0 subscriptions. I'll give you 25. You decide where that goes. Do you have any pets?

[B]

Nope.

[A]

Are you not alone?

[B]

I am alone.

[A]

You don't feel like lonely?

[B]

I love It.

[A]

I get this is why you go to clubs every second of your life. Okay, so no pet insurance, no pet food. That's okay. Anything else that needs to be in your budget that I have not put in yet.

[B]

Not that I can, you know, just.

[A]

So you can do your hobby. I'll do subscriptions to $75 a month, but no more buying new equipment.

[B]

Understood?

[A]

What?

[B]

No more equipment?

[A]

Yeah, for now.

[B]

Well, I don't need anymore.

[A]

Well, trust me, Trust me, buddy. I'm. I'm in that world. To a. To a point. You always want the new thing. I mean, this is pretty simple. If you literally just budget and I gave you a higher subscription fund than anyone. $5,657.15. Okay. So you don't have to cold turkey. I'm going to give you $250 in fun. So you choose where that goes. So let's say you need $5,907.15 to survive. Now, minus your $7,583.30 that comes in, you have an extra $1,676.15 left. Let's minus the student loans. Let's minus the mortgage. Let's minus the 401k and you have bad debt of $120,794.11. It's your chase Slate card, American Express, American Airlines or the American Airlines. American Airlines AMEX card. Home equity, auto loan.

[B]

Home equity you consider bad debt.

[A]

It's 10%.

[B]

Okay.

[A]

Yeah. It's a bad interest. It's losing to the market.

[B]

You know, car loan is that bad debt as well?

[A]

Yeah, because it's 7% under depreciating asset. And your mortgage is an asset that is going to go up in value traditionally. And student loans is a lower interest rate. So those I'm not freaking out about. But $120,794 in bad debt. Honestly, your 401k loan, I'm not putting it in there because it's automatically going from your gross income before your net hits. And we're just basing this off a net income. But that's also not great debt because it is risky debt to have if you ever lose your job. But of the $120,794.11 with your $1,676.15 left over, it takes 72 months to pay off. Which honestly, for how chunky that debt, six years isn't the worst. But what I would do, my guy, is you're obviously in a career field where your Income can keep going up. What I would do, I gave you $250 for fun. I personally wouldn't do that. I would try to pay this off in four and a half years instead, which is probably where that would get you as your income goes up. I wouldn't lifestyle inflate anything. I wouldn't be going on trips, I wouldn't be doing anything. I'd take all that money and pay this off. I think you can pay this off in about three and a half years. Hard budgeting, you know, 32 years old, that is okay. That is not the worst. And then you have a long life of a high income in a great situation, a great situation. You got to play some catch up on retirement. If you want to maintain your lifestyle that you have now by, you know, 59 and a half or 65, sure. But you need to get a six month emergency fund. The fact that you're a homeowner without a six month emergency fund is scary. So you need to pay off this debt as soon as you can, which is going to be about a three and a half year. I'd get a one to two month emergency fund before that, maybe two months because you have a mortgage and a lot of your stuff sounds commission based. So maybe a two month emergency fund. Then we start tackling that. Pay it off in about four years by funneling your raises to it. Pay off your smallest debt to your largest debt, smallest balance to largest balance that gets you to fuel there. Don't include the 401k, don't include the student loans, don't include the mortgage. Then build the fully funded emergency fund and I'd do after that. I'd do 50% of your income on needs, 25% on fun, 25% on retirement so you can catch up on your retirement. Okay. If their retirement ever becomes close to where it's actually caught up, you can convert that to 20% and then do 30% for fun. If you want more percentage wise to go to fun, you do not take it from your retirement, you take it from your needs. You cut down your life if you want to have more fun. But you never cut down retirement because you need to be able to retire. Who knows what Social Security is going to look like by the time you retire. Guys, join us in the post show. And don't forget, Hammer Elite, which is the best YouTube membership in the history of this platform, is free for this month. Right now all you have to do is join and then submit your proof of purchase@hammer elite.com and we will reimburse you with a gift card that can be spent anywhere in most countries. Hammer Financial Score spending in a budget. You overspend. So 0 out of 10 debt at least you don't have collections, but you're late on everything. Give you a 1 out of 10 to be generous because there's no collections or IRS there. Retirement emergency fund. Nothing. 0 out of 10 retirement plus the HSA. I mean you're definitely behind on retirement for sure with where we want you to be and where you are. Yeah, I'll give you a solid three out of ten Real estate. Yeah. No, I mean the equity position sucks with the weird loans you've taken. I took it a 401k loan for it. It's not great, but at least you have a house. It's gone up in value. It's at a great interest rate. It's at a payment you can afford. That helps but I'm going to negate some points for the weirdness that you have four out of ten that'll go up once you pay off those other debts pretty easily. That'll boost your score. It's going to be a Hammer Financial score of rounded up just barely to a 2 out of 10. Guys, join us for the post show Get Hammer Elite for free. I'll see you guys there. Did you know he pays for a like STD app?

[B]

That is the most homophobic thing I've heard all month.

[A]

At least you got tested. So what are you doing? You're going to or are we under stalling? Are we going to the woods?

[B]

I don't do any of that nasty.

[A]

What else is there on there? Shut the up and just Elusive Members content Click the link in the description or pin comment below and watch thousands of hours of extra and uncensored content.