Degenerate Son Exploits Parents | Financial Audit

Summary

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Financial Audit: "Degenerate Son Exploits Parents" (July 3, 2024)

Host: Caleb Hammer
Guest: Trenton, 22, Minnesota

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Episode Overview

This episode of Financial Audit centers around Trenton, a 22-year-old from Minnesota struggling with severe gambling addiction and destructive money habits, which have led to deep financial trouble. Caleb guides Trenton through a brutal financial audit, examining his debts, spending patterns, mental health, and the influence of his social circle. The episode is both educational and raw, emphasizing the real-life consequences of addiction and the need for radical behavioral change.

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Key Discussion Points & Insights

1. Trenton's Background & Income Sources

• Jobs:
  • Weekend job at Old Dutch Foods, stocking shelves (~$30K/year, weekends only).
  • Pizza delivery driver at Chanticleer, 2–3 days/week (~$20K+/year).
• Potential for More: Could increase earnings significantly at Old Dutch Foods if promoted to a route driver.
• Actual Take Home: Trenton reports approx. $4,500/month, though exact numbers are hazy due to inconsistent tracking and tip variation.

Caleb (11:56): "Do you either not know your income or not know what hits your account? Which one?"
Trenton: "I don't know exactly...my tips range, like, a lot."

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2. Gambling Addiction: Origins and Consequences

• Start of Addiction: Began gambling at age 15 at casinos using a lax ID check and has chased initial winnings ever since.
• Current Gambling: Gambles big every other week—sometimes dropping $2,000 or more in a single trip. Also hosts frequent poker nights with friends.
• Cycle of Debt: Uses credit cards/cash advances to fund gambling, often borrowing from friends to make rent.

Trenton (04:18): "Lately it's been like maybe once every other week for like big time gambling trips...a couple hundred dollars to a couple thousand dollars."
Caleb: “So that’s like, $4,000 a month on gambling?"

Trenton (05:16): "Definitely can't get away from it...even when I'm not at the casino, we're playing poker at home."

• Impact on Relationships: Friends heavily involved in gambling and drinking culture, making escape from these cycles difficult.

Caleb (06:39): “The end result of this is you probably can't be friends with them...they’re dragging you down.”

• Attempts at Recovery: Abstained for several months but relapsed; never sought formal help (GA or therapy).

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3. Financial Breakdown

Debts

• American Express: $21,138.94, $717.55 monthly minimum, $511/month in interest.
• Chase Freedom: $5,124.15, $51 minimum (balance transfer from Amex at 0% APR for now).
• Discover Card: $2,747 (used extensively for monthly payments, including Timberwolves tickets).
• Car Loan: 2024 Chevy Equinox ($40,000, $696.14/month, 9% interest, upside down on loan, rolled $5-6K negative equity from previous car).
• Season Tickets (Timberwolves): $14,000/year, financed in monthly payments ($1,100/month); attempts to resell for profit but high risk.

Caleb (39:54): "Wait, what the are you talking about? It costs $14,000 a year?"
Trenton: "Yeah. So it's two seats in the club level..."

Spending Habits

• Daily eating out (fast food, restaurants), buying alcohol, golf, tobacco/vaping, and entertainment.
• Rarely, if ever, budgets; dismisses the seriousness of overspending until confronted.

Caleb (14:01): "The minimum payment is absolutely insane for your income situation." Trenton: "I don't have money on my other cards. So what am I supposed to do?"

• Overdrawn checking account, often 'floating' bills with gambling winnings or new credit.

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4. Patterns of Self-Destruction & Denial

• Laziness/Convenience: Regularly chooses fast food for convenience, attributes many destructive behaviors to laziness and lack of motivation to change.

Caleb (17:41): "Laziness. Would you define your life around laziness?"
Trenton: "Sure, I guess...I would much rather go out and have somebody else make my food."

• Addictive Personality: Recognizes an addiction to risk, alcohol, vaping, junk food, and loss-chasing in gambling.

Caleb (39:39): "Hi, my name is Cam Ham. Nice to meet you. I have an addictive personality just like you do."

• Rationalizes Poor Decisions: Sees expensive season tickets and big bets as "investments" or manageable risks.

Caleb (41:47): "So you finance it and you pay your financing payments on a financed card… you’re financing a financed payment." Trenton: "I guess I am."

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5. Family Impact & Parental Support

• Parents: Still pay for his phone and gym, and Trenton pays negligible rent ($500/month) with minimal other living expenses.
• "Exploiting Parents": Title refers to ongoing dependency and how external support enables Trenton's destructive cycles.

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6. Caleb's Interventions: Advice & Tough Love

• Calls for Radical Change:
  • Cease gambling and seek professional help (GA, therapy).
  • Disconnect—at least partially—from enabling friends.
  • Close/restrict access to existing and future credit lines.
  • Sell or offload risky assets (season tickets, car).
  • Strict monthly budget, with coaching and resources provided.
  • Explore new career opportunities for higher/steadier income.

Caleb (72:58): "If you don't actually put in the work to try to actually save yourself from your addictions...I don't think there's a actual sustainable future here...You can live a great life. It requires some sacrifice and you actually going seeking that help."

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Notable Quotes & Memorable Moments

• Gambling Dilemma:

  • “I never claimed to be a good gambler.” — Trenton (04:44)
  • “You are too young for that, man...you’re too young to be throwing your life away for this.” — Caleb (09:26)

• On Enabling Friends:

  • “So you never stopped?” — Caleb
    “No, I guess not.” — Trenton (06:21)
  • “I always figured if I wanted to, I could quit by myself.” — Trenton (07:29)
  • “And how’s that gone?” — Caleb
    “Not well at all.” — Trenton (07:37)

• Season Ticket Speculation:

  • “It’s an investment.” — Trenton (39:12)
  • “You can't afford that.” — Caleb (39:09)
  • “You're the day trader who made $200 off $1,000 and then you're like, oh, so let me go ahead and do $14,000. Good luck.” — Caleb (48:29)

• On Debt and Overspending:

  • “You're funding a financed payment with a credit card. You're financing a financed payment.” — Caleb (41:59)

• Moment of Realization:

  • “What motivates you about money? Because money is more of a tool, I guess.” — Caleb (23:44)
  • “Probably one of the reasons I get so far into debt is because I like...maybe it's not money that motivates me, it's what money buys.” — Trenton (23:49)

• Caleb’s Blunt Assessment:

  • “$7 in this checking account. $7. We're gambling, we're putting down payments on credit cards. We're $7 in his checking account. We're financing Timberwolf tickets. All right, okay. All right. Like, at this point, I don't even know what to do other than just react now.” (51:18)

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Important Segment Timestamps

• [02:10–09:01]: The gambling spiral and impact on friendships.
• [13:46–21:00]: Eating out, laziness, and the vicious debt cycle.
• [24:07–31:00]: Nightlife, social circle, inability to quit, and the “investment” delusion.
• [34:35–44:38]: Breaking down each debt, including the jaw-dropping Timberwolves ticket hustle.
• [48:42–52:23]: The $40K car mistake and compounding negative equity.
• [53:41–56:06]: Checking account overdrafts, cash withdrawals for gambling, outright denial, and a plea for treatment.
• [60:52–62:23]: History of investing, speculative trades, lost opportunities, and reflecting on past financial decisions.
• [66:54–72:57]: Caleb drafts a mock budget and outlines necessary life changes; emphasizes that unless Trenton beats addiction, budgeting is pointless.

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Tone & Takeaways

Caleb's tone throughout is frank, sometimes incredulous, but rooted in tough love. He emphasizes that destructive cycles (addiction, denial, poor spending habits) will continue until Trenton takes ownership, severs unhealthy ties, and seeks professional help. The conversation moves past surface budgeting to the deep behavioral and psychological issues underpinning Trenton's ruinous habits.

Caleb repeatedly returns to a core message: No amount of financial coaching or budgeting can work until the addiction is addressed. He provides resources and guidance but makes it clear the onus is on Trenton to change.

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Summary Table: Trenton's Monthly Snapshot

| Income (net) | ~$4,500 | |-------------------|-------------------| | Rent | $500 | | Car Payment | $696.14 | | Amex Minimum | $717.55 | | Chase Freedom Min | $51 | | Discover Min | $82 | | Timberwolves | $1,100 | | Car Insurance | $380 | | Dog (food/insur.) | ~$45 | | Groceries | $300 | | Gas | $250 | | Remaining/Deficit | < $300 or negative|

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Final Hammer Financial Score

Rounded up: 0.5 out of 10

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Closing Remarks

Caleb stresses that anyone facing similar struggles must address the root causes (addiction, enabling social ties, and denial) before a financial turnaround is possible. Viewers are encouraged to use the budgeting/accountability resources but to first reach out for genuine support if addiction is involved.

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Memorable Send-Off:

Trenton (74:51): “Darn shame. I can only win on a gamble.”
Caleb: "That’s kind of f*ed up we’re doing this with you..."

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Note:
All resources and recommendations for recovery, budgeting, and investing are provided in the show’s description. Viewers are encouraged to seek professional help for addiction as a first step before financial recovery work.

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Transcript

[A]

To watch episodes of Financial Audit a week earlier. Check us out on YouTube.

[B]

A couple hundred dollars to, you know, a couple thousand dollars. Not really gambling if you ask me.

[A]

What do you mean that's not gambling?

[B]

I don't always lose, you know. Sometimes you win, Nat.

[A]

You've lost. So you've lost. That's all your income with both your jobs.

[B]

Can't be that bad. I mean, I know I need to stop. I don't lose every time.

[A]

Serious, Are you gonna me right now?

[B]

What the are you talking about? The absolute worst.

[A]

What are you talking about? Like, legitimately. What are you talking about?

[B]

I never claimed to be a good gambler. My name is Trenton. I'm from Minnesota. I'm 22 years old, and this is Financial Audit.

[A]

Welcome down from Minnesota. Cool. Fellow midwesterner. I'm glad I escaped. And welcome to escaping. What do you do for a living up there in that barren, snowy wasteland of freezing?

[B]

Yeah, I. I work weekends for old Dutch foods, so I stock shelves with products that are already there.

[A]

Okay. How much do you make doing that job?

[B]

Probably around 30 grand a year, maybe a little more.

[A]

Just weekends?

[B]

Yeah, no, it's a really good job.

[A]

Okay. Wow. Yeah. Okay. And is there another or.

[B]

Yeah. No, then I. I work delivery driver for a pizza shop called Chanticleer, and I work like two to three days a week there, so.

[A]

Okay, and what are we bringing in with that one?

[B]

Probably around 20,000. A little more.

[A]

A little more. Working more hours at the touch. The Dutch place.

[B]

Well, it's just a weekend job, so if I were to go full time.

[A]

Yeah.

[B]

It'd be Monday through Friday.

[A]

Yeah.

[B]

But the pay would be less.

[A]

How much?

[B]

So I'd probably start at like, for the month. Just the Monday through Friday would pay about 42000 a year at the minimum.

[A]

Okay.

[B]

But then once I would. If I were to do that, I could get like my own route, and then I could make up to maybe 60, 70,000 a year.

[A]

Gotcha.

[B]

Then the weekend on top of that. So another.

[A]

So obviously we have some debt, we have some spending, But I want to ask you, give us me and the audience, just a little background. What are we looking at here?

[B]

So a lot of my debt and stuff comes from my gambling. So I 22. Yeah, well, I started when I was 15.

[A]

How. Wait, how? Well, you know, you had a fake.

[B]

No, the casinos just. You get to know which ones are tight with the security of which ones are not.

[A]

Minnesota accent is. It's a powerful one.

[B]

Oh, you betcha.

[A]

I love it. Okay, sorry.

[B]

Yeah, but anyways, I was 15. I brought $5 at the casino set at a blackjack table.

[A]

They allow that? 15 year olds?

[B]

Well, no, but they didn't check my ID because I've always looked older.

[A]

Okay, but you don't look old.

[B]

Well, when I was younger, I looked.

[A]

Actually a similar haircut.

[B]

I guess so, yeah.

[A]

If mine hung over a little bit.

[B]

More on the sides, yeah. Anyways. But I turned $5 into 200 at a blackjack table. And then ever since then, I've just kind of always wanted to keep trying to repeat that experience.

[A]

You're into debt for the gambling?

[B]

A lot of it. A lot. Well, so what I would do is my American Express would allow me to send money, like Venmo money to my friends off of my card, and then I would just have them give me cash.

[A]

Okay, so what does this gambling look like today?

[B]

Kind of the same thing.

[A]

But how are you gambling and with how much and what are you playing and where and why and when and what? Anything.

[B]

I don't know. You know, I like playing blackjack. I'll play it. I'll gamble on any. Anything anywhere. I mean, if I think I can make money, I'll bet money towards it.

[A]

Okay. And how often.

[B]

Lately it's been like maybe once every other week for like big time gambling trips. Where I'm gonna be, where I'm gonna be spending, you know, a couple hundred dollars to a, you know, a couple thousand dollars. But a lot of times I'll.

[A]

Every other week. So like 4,000 bucks a month.

[B]

I mean, I don't always lose, you know, sometimes you win.

[A]

Yeah, but net, have you lost or won?

[B]

Well, I've lost quite a bit.

[A]

That's all your income? That's all your income with both your jobs. If you lose it all net, have you lost more? One more?

[B]

Lost more.

[A]

Okay, so it's not about sometimes a win, sometimes I lose net. You've lost, so you've lost.

[B]

I never claimed to be a good gambler.

[A]

No, of course not. But that doesn't. But you, you spend, if it's really $2,000 a week, every other week.

[B]

I mean, on the top end, you know, it's not always that much, and I don't always lose all the money. But.

[A]

52 divided by two. No, it is. Okay. It's like 52. Okay. That's wild. So you're clearly addicted.

[B]

Oh, yeah, Definitely can't get away from it. And like, look, me and my buddies, even when I'm not like going to the casinos and Gambling, you know, the bigger chunks of money. Like I feel like once a week we're hosting like poker nights where we buy in for you know, 20, 40 bucks between 10 guys. Then we play like tournament style, like winner takes all or.

[A]

But this addiction, it's obviously brought financial stress to your life and potentially other stressors. I don't know what have you done to combat it or get help or do anything?

[B]

I mean there was a while there last March till like August, I didn't gamble at all.

[A]

Okay.

[B]

Or besides maybe like you know, the $20, $40 house games, which not really gambling if you ask me.

[A]

What do you mean? What, what do you mean that's not gambling?

[B]

Well, it's, you know, it's like going out to eat, it's like oh, 20 bucks, you know, it's like addicted to.

[A]

Going out to eat and then you go and get a cheaper meal. Out to eat. You still went out to eat?

[B]

Yeah, I guess that's true.

[A]

So you never stopped?

[B]

No, I guess not. Then.

[A]

And then what made you get back into the high roller?

[B]

I don't know, just my buddies asked me to go one time and I just decided to. And then I kind of wanted to start keep going to the casinos again.

[A]

So is your friend group a big gambling group?

[B]

Very big gambling group.

[A]

You know, I mean, you know the end result of this, right? The end result of this is you probably can't be friends with them. Which is so hard. It's so, so much easier to say than do. Because when, what are we without friends? You need a support system. You'd be bored, you'd feel lonely. But also they're dragging you down. Cuz if you want to get to a better place where you're not addicted to gambling, spending your entireing yearly existence on it and everything single cent you make, you'll. You'd need to get out of that situation. But like how can you. It's hard. If you ever sought help.

[B]

I don't think like really like I've. I've asked my friends to like not invite me to anything.

[A]

But there's gambros, like groups. I'm talking like you know, the.

[B]

Oh, no, nothing. Like why? I don't know. I always figured I could, if I really wanted to, I could quit by myself.

[A]

And how's that gone?

[B]

Not well at all.

[A]

Okay, so that leads us to probably the other thing then.

[B]

Good old Gamblers Anonymous.

[A]

Yeah, why not?

[B]

I don't know, I. Yeah, I suppose I probably should do that.

[A]

But is your. Is the debt that we're looking at basically all because of the gambling or is. Or is there more here?

[B]

I'd say it's probably a 50, 50 split between really gambling and then just like what going out to eat and drinking and just going on vacations.

[A]

And you were venmoing from this card, this first card you were venuing money to your friends and then they would give you the cash.

[B]

I mean they weren't all super supportive of it like, but they did it like I'd be, you know, down all of my cash from my bank account and then I would have to basically beg them.

[A]

Do you have rent?

[B]

Yeah.

[A]

How do you. Have you ever missed rent?

[B]

No.

[A]

How, how feel like you're skirting the line?

[B]

Yeah. I don't know. There, there's been, you know, occasions where I'll take out like a two week loan from a buddy just to like.

[A]

To make loan from a buddy just.

[B]

To make sure I don't miss a payment.

[A]

Like that should scream that you've reached like you're basically you inches away from bottom if you're getting loans from your friend. So you don't miss the payment so you don't become homeless.

[B]

Yeah.

[A]

Like how close are you to the bottom? I'd say pretty damn close from that.

[B]

As of recently it's kind of been like well American Express. I used to have a 30 grand credit limit on that and just recently they cut me down or they basically cut it down to like my 22,000.

[A]

Did they really?

[B]

Yeah, they.

[A]

That's not reflected on here. So that happened after the statement.

[B]

I think it came into effect like June 1st.

[A]

Oh, okay. So let's talk about this. I want you to self assess a score for me real quick though. Your financial score. 0 being the absolute worst. 10 being the absolute best. Where do you think you are on this score of finances? Zero. Okay. I'm not. I don't think anyone's super surprised based on what we've talked about so far. But that's tragic because you are too young. You are too young for that man. And that you too young. You had a to be throwing your life away for this. If you want your Hammer Financial score, it's free in the description below. And if you have anything that you want to discuss with me on this show, just definitely feel free to apply@caleb hammer.com apply. Let's jump into the debt. This is insane. This card is insane. The debt is basically your age on one card alone. Like that's ridiculous. Like accumulating $1,000 of debt on this one card alone for every year of your existence. So, Amex, we're sitting at $21,138.94. That's. I'm sure that's crazy. What's even crazier, the minimum monthly payment is $717.55. What hits your account? That we could see on a monthly basis? That we could see. And please correct me if I'm wrong. What's the mobile deposit, tips or ATM deposit? Is that tips? Okay.

[B]

Yeah, yeah.

[A]

We had payroll, 1468. We had flash seats, 1500.

[B]

So. Flash seats, that's me selling my season tickets. And that's just the.

[A]

Okay. What's the ATM deposits of 2,640.

[B]

It could be me winning, gambling. I'm not exactly sure how much.

[A]

It's your account from your earnings on a monthly basis. Jobs. Earnings.

[B]

Jobs earnings should be right around 5,000. Or. No, like 4 to 5,000 somewhere in there. It ranges with tips, but 15, 12, 54.

[A]

No, it doesn't add up. You said 20,000 from one job, 30,000 from another job. That's $50,000. You're saying net, you get 54,000. That makes zero sense. Do you either not know your income or not know what hits your account? Which one?

[B]

I don't know exactly. Well, my tips range, like, a lot. Like, sometimes, like it's a small pizza shop, so sometimes I'll make, you know, $50. One night. One night I'll make like a hundred dollars.

[A]

Three days a week, though.

[B]

Yeah. And occasionally I'll work like, four days a week if they really need me. But mostly it's three days a week.

[A]

How much can I trust? Because I can't see, by the way, because again, payroll. We had 1,468 into your account. We had a mobile deposit. $701. Again, maybe that's gambling. Ven. And $257. Adm. Cash deposit, 2,640. You don't know what's gambling, you don't know what isn't. And then selling your season tickets. We'll talk about that as well. How? I don't know what hits your account. How. How certain are you on this? 4,500 average.

[B]

So I get paid monthly from old Dutch.

[A]

Just how certain are you on this $4,500 average?

[B]

I'm positive.

[A]

Okay, let's call it that then. Taking your word on that. The reason. Like. Like, I don't care if it's 4,000 or $5,000, but if we have a wrong Number the conversation we have at the end of this where we do a budget and we try to figure out systems can be completely thrown off. And I'm having to take your absolute word on that. Amex. Yeah. 717.55. Minimum. Three payment. Okay, what's going on here? You made a minimum, then you purchased. You purchased $1,533. That's crazy. That's an insane number. You know why that's extra insane? Because here's your credit limit now, because they lowered your credit limit because you don't know how to manage this. Would you like to join me in this conversation?

[B]

I don't know. What, what was the. What was the purchase for?

[A]

What? You don't even know what you purchased, buddy. That's purchases that you had.

[B]

Oh, purchases.

[A]

Yes.

[B]

I mean, it was probably just getting food.

[A]

And so they lowered your credit limit because you can't manage this. The minimum payment is absolutely insane for your income situation. What is it? Okay. 4,500. And the minimum payment is 717. 717 divided by $4,500. 16% of your income goes to just one minimum payment on one credit card. Not one of your debts out of the many deaths you have. Okay, so we decided to go purchase on it. Food. Which is what you're saying. We didn't even go through the purchases. But you're saying it's probably just me going getting food nonchalant. You know, this is nothing. It's nothing. It doesn't matter. You think that's okay? You think that's acceptable? It's charging $511.28 in interest. That's okay.

[B]

No.

[A]

Then why the are you doing it?

[B]

I don't know. I'm just trying to, like, because I don't have money on my other cards. So what am I, what am I supposed to do?

[A]

Am I supposed to not go out to eat? What are you talking about? If you do not have money, you do not go to Mickey D's. I don't know where you went, but we'll look at that in a second. Does that not make sense? How does that not make sense?

[B]

I mean, it does, but like, I just. I don't know. I. I just, I. I don't like to just sit in home, do nothing. It's. It's just super hard for me. I don't know.

[A]

Park. Both of us could use a few more miles of walking a day.

[B]

Yeah, I like, I go out and.

[A]

Do things, but there you go, Mission solved, problem solved, mission accomplished. As you know, this channel is all about making sure people stop making dumb, dumb decisions with their money and start to plan for their financial future. Well, today I want to take a moment to discuss my personal favorite investing app so you guys too can begin to plan for the future and get your money to start working for you. I'm talking about today's sponsor, Moomoo. Moomoo is the app I personally use to invest in the stock market and make my money grow. Unlike other apps that hit you with sneaky fees here and a sneaky fee there, Moomoo offers zero commissions on US stock ETFs and options. That means no trading fees, no contract fees on stock options, no minimum deposit requirements, and no account maintenance fees. That means that you hold onto more of your money to keep working for you. But wait, there is more. Mumu offers all of you beautiful people an incredible deal. Up to 15 free stocks just for making a qualified deposit. That's right. Up to 15 free stocks just for putting in some cash to get started. And if you're still hesitant about diving into the stock market, Moomoo offers a whopping 8.1% APY on your uninvested cash for the first three months as a new user. So even if you're not ready to invest right away, your money is still working hard for you. And why do I love Moomoo? Because it's not just about buying and selling stocks. Mumu provides powerful insights and analysis tools that help you make informed decisions. Whether you're a beginner just learning the ropes or experienced trader looking for advanced tools, Moomoo has got you covered. Plus, Moomoo has an awesome Learn section that they can transform you from a newbie to a confident investor. They offer tons of resources to help you understand the market and make smart investment decisions. So what are you waiting for? Don't miss out on these amazing signup bonuses because they won't be here forever. Scan the QR code on screen or click the link in the description below to get started with Moomoo today and start planning for your financial future. Why do we have to stop at a fast food restaurant on the way? I don't know.

[B]

I get hungry. I don't want to eat what's at home.

[A]

Then why don't you buy better things for home?

[B]

Because it's just easier to eat out. I don't know.

[A]

It is easier to eat out. So, laziness. Would you define your life around laziness?

[B]

Sure, I guess.

[A]

Sure, you guess?

[B]

Yeah, I guess. I'm lazy and what do you think?

[A]

Like, we're finding it out. We're figuring out. We're trying to diagnose it so we can try to come up with a plan.

[B]

All right. I guess then I'm. I'm lazy and I.

[A]

You guess. I mean, I feel like you're just trying.

[B]

I am. I am lazy.

[A]

Okay.

[B]

I would much rather go out and have somebody else make my food than me make it.

[A]

Sure.

[B]

I'd like to go out and do things with friends rather than sit at home and do nothing.

[A]

That's fine. That doesn't mean you have to spend money, though.

[B]

Yeah.

[A]

Hanging out with friends is not a bad thing. I'm not opposed to that by any means. Let's talk about laziness. Laziness is interesting because what happens with laziness? Well, your laziness of this, going out to eat, pushing this to the credit limit. It's going to go above the credit limit very soon because it's accruing 511 in interest every month. And it's actually going to start occurring even more than that because you put a larger. Because you started at 19,000 and it went up to 21,000. So you made the balance bigger because you were spending money on things we can't afford. So let's talk about laziness. You do that because you're lazy. What happens to a lazy person later in life? Hmm. Well, then they're forced to either get f ed or not be lazy anymore because you're gonna have to start earning more income because your middle payments are going higher. Kicking the count down the road. We're just building up more debt, more debt, more debt, more debt, more debts, building up more debt because we continue to be lazy. Then it catches up to us, and then you have to pay for. You're paying for all the laziness now in the future, which means you won't be able to be lazy in the future. You're making it hard for yourself maybe years down the road, sure. But you're making it hard for yourself and someone that has an addiction. Let's be honest. I'm not going to shame the addiction itself because that is a real thing that a lot of people fall into. A lot of people fall into nicotine. A lot of people fall into. A lot of people fall into. A lot of people fall into gambling. These are very real things. Not going to shame you for that. But as someone who deals with that, you having this thing coming down the road that you're going to have to deal with is Going to make your fight of that addiction ten times harder. Because if you have to deal with all these major responsibilities that you're just kicking down, kick it down, kicking down, kick it down forever, how are you going to deal with that? When you're trying to fight one of the hardest things ever, a big addiction, you're ruining your potential of your future life. You are making a couple years down the road, maybe a decade down the road. Sure. You're making that so much harder for yourself.

[B]

Yeah, I'm.

[A]

I mean, that's what laziness does.

[B]

Yeah. I don't doubt I need to make a change, but I just. It's really hard for me not to just go and spend money somewhere. Like, all I'm doing is, oh, I'm like, I'm. I'm working and I'm not at home for, you know. You know, six to 12 hours a day. Like, weekends. I'm out on the road almost 12 hours a day. Like, I'm gonna have to go, like. So I'm weekend service. I. It's like a route. So I do like, you know. You know, 15 stores in a certain area. So, like, when I'm out doing that, I have to go get food somewhere. So I. And it's. I don't have money on my.

[A]

This conversation so intense. A thermos. Have you ever seen a thermos anywhere? Ever seen one of those?

[B]

Yes, I've seen it there.

[A]

That's interesting. What do they do?

[B]

They keep food warm.

[A]

Oh. Is your car big enough to hold a thermos?

[B]

It is big enough to hold it there.

[A]

Oh, that's interesting. It's an interesting little tidbit. How's that? Is that an option?

[B]

Yes, that is an option.

[A]

Good. I love me a soup. Yum, yum, yum. Sammy's coolers, ice, things you can put there. Fruit, vegetables. You can get crazy. Be a weirdo. Put some milk in your cooler. Eat some cereal on the road. Be a freak. I don't care. Saves you money. I'm a freak. I'd eat cereal on the road. Sure, why not?

[B]

All right, well, stop.

[A]

You will stop.

[B]

Yeah, I. I don't really have an option. I don't have the credit anymore.

[A]

I think you can open up another line of credit, which is what I see a lot of people do on the show. So that's why I'm taking this very seriously, because you're right on here. You can't purchase anymore, but you could find more predatory services. Amex isn't bad, but people in your situation where they have this behavioral issue that they just cannot stop going out to eat. All of a sudden credit one shows up in the mailbox and they're like, yeah, I'll take credit one. They start getting with interest and fees. Yeah, I'll take the next credit one. I'll take the next credit one. I'll get the next predatory lender and the next predatory lender. Then I'll get the next payday loan. Then I'll give the next payday loan. That's happened so many times on the show that would be devastating for your life. And you're too young. You are too young. Am I getting old? Kill me now. You're too young to have a 21, $138 balance that you're still accumulating that had its credit limit decrease because you don't know how to manage it with a 717 minimum payment, with $511 of interest growing. You are too young for that.

[B]

I mean, it's not like I want to keep, you know, spending the money and keep growing my debt and all that. Just.

[A]

Why do you think you haven't stopped? We've talked about laziness for sure.

[B]

Yeah.

[A]

Have you recognized that laziness though, before this conversation?

[B]

Yeah, I, I would say I have recognized that laziness. But.

[A]

So what have we done with that then when recognizing it?

[B]

I don't know. I try to get myself motivated. But I can usually motivates you. Money. Money motivates me.

[A]

Well, you're losing it all. Yeah, you're, you're negative. Negative net worth, as far as I know.

[B]

Yeah. No, it's.

[A]

What motivates you about money because money is more of a tool, I guess.

[B]

I guess probably one of the reasons I, I'm get so far into debt is because I like. I guess I. Maybe it's not money that motivates me, it's what money buys that motivates me.

[A]

So what is that for you?

[B]

Vacations, Nights out with friends, Life experiences? Yeah, life experiences.

[A]

Okay, well you're now at the credit limit and you're losing your money with gambling as well. So that has all of a sudden limited what you care about. If that isn't enough for you to start turning things around, really don't know what it is. Sometimes people have to hit rock bottom. Sometimes when we're looking at it from the outside, it's like what more rock bottom is that? But people find a way and I hope that's not what you have to experience first. I hope you can catch Yourself on the way down. So the purchases in here, record store thing or like an apple bill. Cub foods. Golf, Golf. Going and getting some booze going inside a gas station. Getting some bull animal drafthouse. And I love myself an animal drafthouse, don't get me wrong. But again, we're at the cap and it's accruing hundreds of dollars interest and the minimum payments, almost a thousand dollars. Golf course. You're at the golf course every second of your life. Liquor again. Do you drink a lot?

[B]

I'm trying to quit, but.

[A]

Well, that tells me you drink a lot.

[B]

Yeah, yeah.

[A]

22. Your life does not have to be this Denny's. Oh no. Tobacco and vape. $145. Okay. What is it?

[B]

Yeah, so I'll just buy a disposable and I like to have a disposable and like it's like a vape that comes with juice in it and then I like to have a vape that I can refill.

[A]

And you're double fisting.

[B]

Yeah, yeah.

[A]

Shake my hand for a second. Hi, my name is Cam Ham. Nice to meet you. I have an addictive personality just like you do. One thing I've learned because of this addictive personality is I don't get into things that are typically addictive for other people to get into. Because I know I'm gonna get addicted into those things that are find very addictive for most people. What I need you to do, as we're continuing throughout life, obviously, yes, you're combating these. You're trying to stop drinking and the vaping, that's the whole thing that you're gonna have to, you know, figure out. And then the gambling, it's a whole thing you're gonna have to figure out. As we're going through this. You're four years into adulthood. We need to have some self realization of your life. If you know you have an addicted personality, which from the outside is very clear to me, but you know, you, I need you to figure that out. One thing I've learned that have helped me is I just stay away from that because I know I'll go down those lifestyles if I start jumping in them. Because I am a habit ridden person. I am an addictive personality. That is something that if you think that is you, I want you to recognize, potentially talk to a therapist about, but also try to stay away from those things. And if your friend group is pressuring you into those things because that's how they live their life every day of their life, it's not the Right. Friend group for me, which, again, I know is so hard, because how do you not have friends? And it's so hard to get a friends as adults outside of college, outside of you know, maybe potential work or something. I don't. It's hard. I know. I'm asking the world, what would you.

[B]

Have me do then? Would you have me, you know, stop talking to, like, most of my friends and just keep around?

[A]

Like, is it one big friend?

[B]

It's probably a. I mean, we're all basically friends with each other.

[A]

Yeah.

[B]

It's like a. Maybe a group of, like, 20 of us.

[A]

What do you guys all do when you hang out?

[B]

Well, poker nights, going out, drinking.

[A]

Okay.

[B]

Yeah. Going racing up in Brainerd. We have a raceway up in Brainerd, and some of my buddies have, like, you know, couple hundred thousand dollars cars that just fly.

[A]

I mean, I'm okay with that one, unless it's sinking a lot of money into it. Addictive for you.

[B]

Well, but what we do up there is we just drink every night. Like, that's probably.

[A]

It just sounds like it's like. It's just the friend group that is. It just sounds like this is not the friend group for you. And I know that's so hard. Yeah. But if you're around that every day, I don't know what you're. That's going to be so much harder to stop. Cup foods. Dairy queens. Liquor. Again. Liquor. Or wait. Twins legend. Twins legend. McDonald's. Cub Foods. Alamo Draft House. Alamo Drafthouse. Getting some coffee. Going to the golf course. Going to the golf course. Let me get Guess. We're drinking and smoking on the golf course. Portello's Hot dogs. China. Panda Almond. What the. Animal Draft House. Elmo Draft House. I love Elmo Draft House. You've gone more than me this year. McDonald's. Oh. Continues. What's Holiday stations?

[B]

It's a gas station.

[A]

That is probably not gas with that price. Animal Drafthouse. Dq. Dq. Portillo's Hot Dogs. Got our chili dog. Looks like hotel booking company. Where the are you going? Maxed out credit card.

[B]

Well, I was gonna go to Vegas, but I've since canceled that trip.

[A]

Thank. Why did you cancel?

[B]

Because I didn't have money to go.

[A]

That's certainly a reason. I would rather it be because you recognize you have a problem. Vegas is probably not the city for you.

[B]

Yeah, no, I. I agree.

[A]

I need you to go to a cabin in the mountains or something. Tanner's Brook Golf Course. Tenors Brook Golf Course. Tenor's Book Golf Course. You golf, you. You wake up, you go get some breakfast, then you hit the golf course. Then you see a movie in Alamo Drafthouse. Then you stop at the liquor store and vape store, load up and then gamble. It's like every day of your life. Not every day, I mean, but certainly one of those. Or at least every day feel like if you don't have fun every day with something, then you're. I feel like you just can't live because again, this is like every day is at least something. I'll be going to the bar, going to the bar, going to the golf course. Going to the bar, golf course. Going to a gas station, getting some possibly. Bar, bar, bar, bar. Oh, that's it. Thank goodness. Loss this year in interest so far is basically $2,000 just from one card.

[B]

I mean, I. I could start, you know, just. I have a membership to a golf course, so I don't have to pay for golf all the time, but it's just another thing. Like me and my buddies, we love going golfing and, and I love that too.

[A]

Now with the buddies are going golfing again, it's just encouraging. Drinking, smoking.

[B]

Yeah, it's. So I just. I don't really want to get rid of my friends because if I get rid of my friends, I feel like I'm just gonna, you know, stay at home and I'm gonna like, start doing like or something. I don't know. I don't know. Like, maybe I'll start smoking weed again and again. So I. Yeah, I used to smoke a lot, but. And then. But I, I'm. I don't do it anymore.

[A]

Good.

[B]

But like.

[A]

No, I know, that's why I said it'd be hard. Cuz I don't want anyone to, you know, feel like they're friendless and they're alone and. And that might push you to a worse situation. That's why I'm so scared. But they're certainly enabling you and you're behind. You're surrounded by all these addictions that you have and you can't escape. So finding friends is hard. Are you in college?

[B]

Are my friends in college?

[A]

Are you?

[B]

No, I'm not in college.

[A]

Okay. Are you friends with anyone at work?

[B]

I have a couple friends at work, but I don't hang out with anybody outside of work.

[A]

Maybe try.

[B]

Yeah, I don't know. I'm just. I'm not gonna get rid of my friends, like as much as like, maybe they're a bad influence on me. The bottom line is I'm making My own choices. They're not.

[A]

Well, yeah, you know, you're making choices, though.

[B]

I do, yeah, but it's not. I don't know. It's not like I'm sitting here and I'm just spending money every single day. As much as you might.

[A]

You are spending money every single day?

[B]

Oh, everybody spends money every single day. But I'm not going out and just.

[A]

Yeah, but sometimes on bills and utilities, yours, you. You had at least one a day, minimum. Can look at it. You have eyes. I see them. Feel free. Three pages. Trust me, every day can fit in three pages. What are you gonna do differently if you're not gonna get rid of them again? It's. I'm not saying I want you to get rid of them. It's almost more like just like a thing that's being forced upon you as someone trying to get better. So what are you gonna do differently then?

[B]

I guess I'll stop hanging out with some of my friends. But can you do that?

[A]

Because it sounds like a big group.

[B]

I. I can make it so I'm only hanging out with, like, two or three of them.

[A]

But what do you do if, like, one shows like, oh, my gosh, Darren showing up today. I'm not gonna hang out with. Darren's here.

[B]

I don't know. I. If that's the way it goes on, I probably shouldn't be friends with those people. Like, that's not the kind of friends I want to have anyways. I. I don't know.

[A]

It's risky, man. It's risky, man. I would certainly have you. Do you see a therapist?

[B]

No, I don't see a therapist.

[A]

Now. I think that could be important to navigate those relationships. It's pretty good. You're obviously not a credit card person, buddy. Just like anyone on the show. I'd recommend using the fizz card. Just charge card, gross credit so you can be. So you don't have to do it this way. Also, have you ever budgeted in your life?

[B]

No.

[A]

Okay, that is clear. I need you to budget. You need. We're gonna make a rough budget at the end of this, and I need you to sit down on a monthly basis and budget. Figure out how. What you. What you want your budget to look like, what you did wrong the previous month, what you need to adjust for the future month. So just like anyone else who comes on the show, we're putting you through our budgeting program. Go through the budgeting program, Take the education, take the quizzes, use our budgeting spreadsheet. All of that can also take our investing program. You're obviously not ready for that yet, but you do get a free hundred dollars for signing up, which is good thanks to our boys over at Moomoo. Love those guys. But go through that, learn. We're providing the resources for you for free for a reason. So please take advantage of that. Let's talk about the second card. Freedom Card. Freedom to get bent over pegged by Chase $5124.15 with a $51 minimum payment. I'm thinking it's a minimum payment's not over the hundreds at that point. At this point do we have here made a minimum? This one's a 0% interest it seems. And you didn't put any new charges on it? Oh, well, you can. It's basically maxed out, but okay, so it's a zero percent.

[B]

Yeah. So I took 5,000 from the Amex and opened that card just to put it on there for zero percent interest.

[A]

Oh, so it's just a transfer from the Amex and then the Amex got remaxed out again. See, this is why you're not a credit card person. I would rather you until you're disciplined with finances, close these accounts, take away any access to credit because you just can't take advantage of it. You like, you build up a credit, then you use a consolidation but or more of a transfer in your case. And then you just build it right back up again. It shows that you just can't manage it and it's more bad for you than good.

[B]

Yeah, I don't know. I mean that card to me seemed like a great idea at the time.

[A]

Which one?

[B]

The Freedom. Okay, but.

[A]

But it didn't make a difference though because the money that you transferred from your Amex you built right back up again.

[B]

Yeah, well, I think the main reason I got the freedom one because that's back when I was on top of my card. So like I transferred the 5,000.

[A]

Your cards. Why'd you have to transfer money if you're on top of it?

[B]

Well, it was like at the beginning of it getting out of hand, so I Transferred it to 0%.

[A]

5,000. Not the beginning.

[B]

But then this card was empty when I did that.

[A]

Like 5,000 other beginning. When was this?

[B]

Oh gosh, like seven, eight months ago.

[A]

I want to say 21.

[B]

Yeah.

[A]

5,000 hour credit balance at 21 is not just the beginning of it getting bad. That means it's been bad for a second. That's a amount of money.

[B]

Yeah, that seems kind of like I Mean, yeah, maybe I wasn't the, the most financially, you know, set person at that time, but it was certainly a lot better than it is right now. Like, it was, you know, probably 25 grand less than what I'm looking at right now.

[A]

You know, people are going to call us twins in the comments below. Anytime anyone wears glasses, they're like, oh, it's Caleb's twin. Especially if they're white. But we actually do have relatively similar hair where your hair, you know, is a little more curly in the front and similar haircut. I don't have the earrings, but she.

[B]

Gets mirrings.

[A]

And we're both thick. So there's gonna be so many twin comments. So many twin comments, it's gonna be crazy. Total fees, probably the transfer fee looks like you have about nine months install interest starts accruing this. I don't think you can have access to credit. You can't manage it. 22 and you can't. And I was your age when I started to get out of bad debt. And then I learned to manage it. And then I, you know, I've given myself access to credit cards because I, I, you know, I like credit, I like credit scores. I like taking advantage of leverage. But right now it's taking advantage of you, and you're not taking advantage of it.

[B]

I mean, I, I don't know, I just.

[A]

What?

[B]

Like, I don't just, I don't know where I'm supposed to spend money then. Like, how am I supposed to pay for a gas tank when I have check budget? But like, how am I supposed to pay these cards down and be able to like, fill up my car with gas and get groceries?

[A]

We're at a minimum monthly payment of $768. I do believe you said $4,500 comes in, so I think you can afford gas.

[B]

I don't know what I, I mean, I got a lot of other payments too. Like, you know, I gotta pay rent and I got.

[A]

How much does you rent?

[B]

500.

[A]

That's the cheapest I've ever heard in my life. Are you kidding me? Kill me now. Stick a gun to my head. That's dumb. That can't be an excuse.

[B]

And then I have my car payment. That's.

[A]

We'll get to it, you know, so what other payments?

[B]

Insurance.

[A]

And then how much Your car insurance?

[B]

380.

[A]

Almost as much as a rent. Okay, great.

[B]

And then, gosh, I don't know. Like, oh, I have season tickets to the Timberwolves. That's the Timberwolf. A Timberwolf. It's a. Oh.

[A]

Who are. What. What is the season ticket to?

[B]

Basketball.

[A]

Milwaukee? No, no. Minneapolis. Yeah.

[B]

Not a basketball fan?

[A]

No, no, I like football. I like golf as well. All right, so we can. We can. We can vibe on the golf game, but.

[B]

Yeah, I'm paying, like, 1100amonth for those.

[A]

Is that a professional team?

[B]

Yeah.

[A]

I've never heard of them in my life, but again, we made it to.

[B]

The Western Conference finals.

[A]

That certainly means something to someone. But from Michigan, I would think I would at least know what Minnesota professional basketball team is. Okay, Interesting. You have season tickets to them?

[B]

Yeah.

[A]

You can't afford that. How much is a season ticket?

[B]

It's an investment.

[A]

The are you talking about? If you want to take your investing to the next level. My new investing course is still on sale until July 4th. First, we're offering the course for only $97, which is $50 off. You'll get over 55 lessons, the best budgeting spreadsheet known demand, portfolio strategies, worksheets, retirement strategies, and I'll give you a $100 mumu cash reward when you sign up with Moomoo. Check out the link below for more. Stop buying sweet treats, people, and start investing.

[B]

You know, so I'll, you know, pay, what, 14 grand after?

[A]

Huh?

[B]

The 12 monthly payments of about.

[A]

Wait, what the are you talking about? It costs $14,000 a year.

[B]

Yeah. So it's two seats in the club level.

[A]

No, you. No. Yeah, that's wild.

[B]

But here's the thing. I can sell.

[A]

That's wild. And I can see you're almost proud of it. I see it on your little face.

[B]

But you can sell them for a profit. I made money last year.

[A]

So you buy the tickets, and then you sell them so you don't even.

[B]

I sell, like, half.

[A]

14,000. Do you know how much that is compared to your 50,000? That's insane. Okay, so last year you made money. How we doing this year so far? Is it the finals, like, right now or something?

[B]

No, the finals are over. They just ended.

[A]

How'd that go?

[B]

We did not make it to.

[A]

No, no, no. Telling the secret. Selling the tickets.

[B]

Oh, selling the tickets.

[A]

I don't give a. The team made it.

[B]

I mean, it went well. I probably made, like, four or five grand in profit this year, and that was awesome.

[A]

How many years have you done this?

[B]

This is last year was my first year doing it where I'm selling everything. But those were also seats up in the nosebleeds, so I only paid about 1700 for the whole season.

[A]

And now we're doing 14, 000.

[B]

I figure I'll just make more money.

[A]

1700 to 14, 000. Whole risk. This is for someone making 50 to $60,000 a year. That's so much money. That's so much risk. How'd you pay for it? Credit card. Oh, what credit card?

[B]

The next one discovered.

[A]

I. I actually thought you had two credit cards. I forgot you had a third one. Thought we were getting to the car payment. The Discover. Discover it everyone's favorite. Discover how to balloon a credit card balance on basketball tickets. 2,747. That doesn't make sense. You said it cost $14,000.

[B]

Well, but I pay in monthly payments of 1100amonth.

[A]

So you finance it and you pay your financing payments on a financed card.

[B]

So the loan that the Timberloves give you is free. Like they don't charge. They don't charge you that you can either pay it all at once, pay it in 12 months.

[A]

Either way, you financed it. And then the payments for the financing, you're using a credit card, which is financing. You're financing a financed payment.

[B]

I guess I am.

[A]

I. Yes. Yes, you are. 82 minimum payment. And there is interest accruing on this, so that payment ain't free. 24 of interest, fees of $41. Then $2,825 of purchases. Kill me now. And have you made money from this so far? This. Not last season.

[B]

No. Because. Well, you can't. You don't get to sell your tickets till the season.

[A]

When does the season start?

[B]

I believe you're paying for it now. Like October or September around the same time football starts.

[A]

So until then you're paying $2825 a month until the.

[B]

Yeah.

[A]

How are you paying for that? Let's say you even do make a profit. Cool. How do you. How do you pay for that? Because there's a $3,800 limit on here. How do you pay for that?

[B]

Well, that's the Discover is the card that I really try to attack with the payments. Okay, I want to remind you how.

[A]

This part of the conversation started for a second because that actually just pissed me off now that I'm actually remembering it. You said it's because of my bills I can't pay. I can't pay these credit cards off because of my bills. What are your bills? Oh, $500 for rent. Benny's for rent. Oh, you know, $300 for car insurance. That's actually kind of an expensive car insurance. Almost as much as rent, but, you know, we still have thousands of dollars to play with. Oh, you know, I just financed $2,825 a month for season tickets of a game that doesn't start until late fall. What the. Now, that's a bill. You're right. And that's a stupid bill for your situation because it's going to take you a long time. Even if you do make money. I don't know how you're. How are you paying for it until then?

[B]

Well, that I just. Every. Any payment I make on my credit card usually goes minimum payments, and then anything extra goes towards that one so that I can charge charge the next month to it.

[A]

But what. What happens when that you lose it in a gambling thing and you can't fully make the payment, and then you're obviously not fully making the payment because interest is accruing anyway, so you're not making the full payment. So it's still going to get bigger and bigger every month. What is happening here? There's no refunding this, is there?

[B]

No me.

[A]

Can you sell these now, just so you know, you at least break even. This is so risky for your position. Listen, it's a hustle. I do get what you're saying. I'm not saying you're gonna completely fail from that, specifically of the hustle, but in your situation, you can't pay for this right now. You've. You. You've put yourself in one of the most risky situations I've ever seen for purchases.

[B]

Well, I'm a gambler at heart, you know.

[A]

Yeah, you are. You certainly a car. And that's not going to be an answer that I'm going to accept. Timberwolves Tobacco bar and grill. Port side restaurant. Port side restaurant. Port side restaurant. McDoubles. Timberwolves. Animal. Drafthouse. Timberwolves. Game pass. 10 bucks. Okay, yes. I thought. No. And then There's Game Pass. $312. Is that yearly?

[B]

Yeah. That's a year.

[A]

That's expensive.

[B]

Or I might be six months, but I think it's like 30 bucks a month is what it. Game passes.

[A]

$30 a month. Okay. You can't afford it. Elmo. Drafthouse and Timberwolves again. Kill me now. Kill me now to 30%. This harms me.

[B]

I mean, it can't be. It can't be that bad. I mean, are you serious?

[A]

Are you gonna right now? What the are you talking about?

[B]

Absolute worst.

[A]

What are you talking about? Like, legitimately? What are you talking about? That is. What are you talking about?

[B]

See?

[A]

No, no. What how do you. What do you mean, buddy? Do you not understand that you can't fully pay off that card? All the other cards are maxed out. You can't fully pay off that card. You said whatever extra I have, I've put towards it, but it's not even all of it, so you can't pay it off. And every month this is gonna hit and hit and hit and hit until late fall when you can finally sell it. And until then, this bounces, goes up and up and up, and you're already close to maxing it out. So it's potentially only a couple months away until it's maxed out. Then you won't be able to make the payment that you financ through the Timberwolves. What do you mean it's not that bad? How do you possibly mean that that's gonna ruin me? What do you mean?

[B]

I don't know.

[A]

I. I think that's insane.

[B]

I just think that if I can, you know, get through five, four, five months of, you know, just making these payments.

[A]

I think you can.

[B]

I can and I will. I.

[A]

How? Mathematically, it's not looking great.

[B]

It's not looking great. But I'm gonna find a way. I'm not gonna lay down and die. I'm gonna find a way to make.

[A]

What's your way?

[B]

Well, I don't know. I'm gonna go get another job, probably.

[A]

Great plan. I don't know.

[B]

I'm gonna go get another job. I'm gonna start working more, so I'm gonna start making more money.

[A]

Team of viewers, you're gonna have to go work three jobs now just to do. Be able to pull off this scheme.

[B]

You know, I mean, I should be working more than an average person with this debt, should I not?

[A]

You should, but you're not doing it for the debt. You're doing it so you can do this. Timberwolf.

[B]

Ye. Start selling the tickets. I'm. I might make 30 grand this year.

[A]

Oh, might was a very powerful word. That's an interesting word. Why don't you say it again?

[B]

I might make 30 grand this year on the top end.

[A]

Yeah, yeah, that's a. Your life is a gamble right now, and I can't help that part very much, to be completely honest. I can help people watch. I can help people get out of debt. The addiction of gambling. Everything. Everything, everything, everything. There's not much I can do about that. And it's going to. It's going to. I'm going to wake up one day and see you under a bridge of 25. And that's going to break my heart? No, because that's where you're going. You. You gamble everything. I don't.

[B]

I don't think the season ts are a gamble at all.

[A]

You said the word might. You said the word might. That's.

[B]

I was referencing might as in, like, talking about top end of how much I could make. I'm going to make money.

[A]

You're the day trader who made $200 off $1,000. And then you're like, oh, so let me go ahead and do $14,000. Good luck. What's your car?

[B]

2024 Equinox.

[A]

You have a 2024 car? Oh. Oh, no. It's $40,000, buddy. That's almost as much as your income. Yearly income. That's horrendous. Yeah. I need to lube my throat to swallow all this debt as well. I get it. $696.14 is your minimum payment. That's an insane minimum payment. That is more. That's 200 more than your rent. That's ridiculous. That is the most American thing I've ever seen in my life. Interest rate, 9%. So not gonna beat it in the market. What do you think the car is worth?

[B]

35,000?

[A]

Yeah, probably 23,000.

[B]

Is that what it's worth? Do you know?

[A]

Or is probably. We don't have your exact vin, but that is what your car would be worth in decent condition. Good condition. In good condition. Good condition, Right. Excellent condition. Excellent condition. We quoted it at the base model, though.

[B]

I didn't know what model you had. It's. It's the rs, so it's probably worth.

[A]

A little bit more now. Okay. 27,000, 28,000. Either way, dramatically underwater.

[B]

Well, I did roll in negative equity with that loan because I. Oh, you did? So I blew my. I used to have a 2013 Ford SUV, Ford Edge, and the engine blew up on that, and I still had about $8,000 on a loan, so I just ended up rolling in about 5 to 6,000 in negative equity into that loan at 9%.

[A]

That's was huge minimum payment. Why'd you get such an expensive car?

[B]

It was just the easiest way to roll over. The.

[A]

Was a new car you could have.

[B]

Yeah, it was brand new.

[A]

Yeah, yeah, yeah, yeah, yeah, yeah. I know that.

[B]

Yeah.

[A]

You couldn't do that with a used car.

[B]

I don't know if. If I. I would. I don't think so. I don't think I would have been able to roll it over onto a used car.

[A]

How Much is your credit card debt when you decided to do this?

[B]

Probably at like 10 to 15,000.

[A]

Okay. And how much did you put down?

[B]

I put 5,000 down, but it was on my credit card.

[A]

Woo. I want to go take a nap. This is. Do we have something fun for the post show to lighten us up, make us happy? We have jelly beans. I don't know what the that has to do with the post show, but maybe we can get happy because this is the literal opposite of happiness. Right now. There's $7 in this checking account. $7. We're gambling. We're putting down payments on credit cards. We're $7 in his checking account. We're financing Timberwolf tickets. All right, okay. All right. Like, at this point, I don't even know what to do other than just react now. Like, that's just. That's just all this is. I'm just in horror. I'm an absolute stunned. I'm just ven. Waying out. $40. 980 ATM with draw of 980 of the. Where the. Did that go? Blackjack.

[B]

Yep.

[A]

Great. $7 in our checking account. Thousand dollars of blackjack. Sounds great, guys. Southern account has 200 bucks in it. 256. ATM withdrawal. $204. Where'd that go?

[B]

Blackjack.

[A]

A rejected Discover payment because you didn't have enough money. Try to try to pay 1700 bucks when you had 224. Remember when I was talking about how you might not be able to fully pay? You might not. You said you don't know. You can't fully pay the Timberwolf thing every single month. And I'm saying that balance is going to continue to go up because you don't have enough money to pay it off. Well, here's an example, because that was the Discover card. You try to put more money to Discover card and it bounced. This is great. I'm going through it right now. I'm going through a mental breakdown. I feel it going to gas station or. Who. Oh, no. ATM with TR $200. Want to bet on it? Where'd that go? Should I enable some betting? I'm betting that goes the gambling.

[B]

Yeah. No.

[A]

Okay. Passport, Passport. Sorry. I know. I'm. I'm. I know My brain's on fire right now. I'm sorry, Mama, Papa. I might need to take a second to cool down. ATM withdraw 204. ATM withdraw 204. ATM withdrawal 204. 18. Will try 204, buddy. That's so much money. That's so much.

[B]

Money.

[A]

That's so much fun.

[B]

I mean, you know, like.

[A]

Careful.

[B]

When it's not like I. I don't lose every time. I. I know I need to stop, but I'm not.

[A]

The words of a gambler addict if I've ever heard them. That is the words of an addicted human being if I've ever heard. I don't overdose on heroin every time. Guys, it's okay. I mean, like listen, I can't help with that. And I'm not going to hear it. I'm not going to listen to that. And that's external withdrawal paid. Oh, it's a fee. Oh, because you were negative in your account. 414. Then you're negative in your account. $386. We're overdrafting. We're overdrafting. Guys, guys, guys. We're overdrafting. Guys. Hey Chat, we're overdrafting. So yeah, yeah, let's go gamble A thousand dollars. We don't lose every time, so it's okay. It's okay when we're negative because we might win. Well net you've lost, so I'd say you lost. That's all that matters.

[B]

I just don't think you understand. Like when I'm at the blackjack table, when you've lost 10 hands in a row. I mean, maybe this is the gambler's fallacy, but I wanna, I wanna bet you know, $10,000 on the next hand because it has to hit.

[A]

Oh yeah, because you're addicted. Which I'm not gonna shame the addiction. I just. There's nothing I can do about that. You need.

[B]

I'm trying to make you understand.

[A]

You just think I understand.

[B]

I don't know.

[A]

Yes, it's like sunk cost. I get it. It's like that when I'm on a constant streak of losing it. Whatever. I'm like ready, just double down, triple down, quadruple down. Cuz I want toing win. I want to be a winner. I get it. I don't have a gambling addiction, but I do have an addictive personality. I get it. I'm not going to shame the addiction. But I also don't know much that I can say on it. Cuz it's literally. You need to go get help. Therapy, gambles anonymous, get different friends. There's different suggestions that I've thrown out that are the basic things but that require you going and doing it. There's not much I can say about that. I don't think you're a heinous evil person for that. I Don't want you to think that I don't. These finances, I'll be honest, they are making me kind of die. So I know I'm. I know I get a little intense or something. I can barely do words right now, so I get it. I don't want you to think it's because of your gambling and addiction, though. I understand that that is less of a choice. But it is your choice to go seek help, and that's what I want you to go do.

[B]

Okay.

[A]

Especially while our retirement is $10.98. Yeah, well, we're just not gambling in general because what this is, is gambling your future.

[B]

Well, so that's you gambling 10,000 in there, but at 20.

[A]

What? What? When?

[B]

In 2021? 2022.

[A]

When you were 20. 10,000 hours is incredible. Do you even know how Incredible that is? 10,000 hours at 20 in a retirement account? That's insane. That's well beyond your average person. That's crazy. But how is it 10?

[B]

So what I did was I would invest like heavily into margins. Like only having like 30, 40% of my own money there. And then I was like all in on Tesla and it was just happened to be one of the times it decided to shoot down like 60%.

[A]

Oh. You know, as stocks do. Who would have thought? Yeah, let's pick one of the most volatile stocks. That's great. To better our entire portfolio. You didn't do like meme stocks and stuff, did you? That's hot.

[B]

That's right. When I got in was during the gme.

[A]

Oh, did you buy at the peak?

[B]

I. I bought at 170, sold at 180, and then I bought it 330 and the whole stock market crashed on me. Or GME did.

[A]

GME did. If you're anything like me, you hate seeing a statement full of subscriptions on top of subscriptions on top of subscriptions every single month. It's like your money is getting drained by digital taquitos. They easily overtake your budget or get forgotten entirely. Luckily, Appsumo is here to change the way we buy software online. Appsumo is a treasure chest for entrepreneurs, side hustlers and small businesses looking to scale without being crushed by high software costs. You can access top tier tools without the worry of sneaky recurring payments that can haunt your bank account. Appsumo brings you exclusive deals on premium software at a fraction of the price. Y', all. We are talking lifetime deals. Pay once and you're done. No more. Watching your money disappear month after month on sneaky subscriptions you barely remember signing up for. They handpick software tailored for your needs so you're not wasting money on junk. For productivity, AI and marketing tools, AppSumo has got you covered. And with top rated customer support shown on trustpilot, their team is always there to help you through the process. For me, AppSumo has been a game changer. I found software through their deals that save businesses countless hours and hundreds to thousands of dollars every month. It's like having a financial audit wizard in your pocket. So if you're ready to ditch those digital taquitos and invest in tools that make a real difference, head over to the link in the description below and check out the latest deals. Trust me, your future self and your wallet will thank you. 2022. 3. 2023 was a rougher year in the market. It was a 2022. I don't remember this one because I just constantly.

[B]

By the time 2023 came around, I literally didn't have like any money.

[A]

And was it 10,000 that you put in or did you earn. Did you get 10,000 from games?

[B]

I. I put in at least eight grand. I'm not 100% sure.

[A]

So much money. That's actually. That's really. That's really good.

[B]

No, like, I was, I. Like back then, that was before I had credit cards and everything. I was actually putting in like $200 every week. Like, I was. I was forcing myself to invest.

[A]

It's incredible. I wish this wasn't the past that we were talking about.

[B]

I do too.

[A]

Oh, you could be in. You could be. Oh, man. The rock, the ride in the market these last, what, 612 months? It's been insane. You'd be making so much money just sitting in the S P500, you'd be making money. Gosh. In the heat of this conversation, somehow my phone fell on the floor. That's how intense this has been. Since October 2023, we've gone from 410 in the S P500 to 546 every time I film in this, buddy. When the market was going down, all 2022. Yeah, that was the rough year. Once that got to its bottom, it went from 357 to the 546 now. Oh, man. If that was just sitting in the market, why is it at 10 now? How do we get. How do we get to 10, though?

[B]

So, like a lot of the. Basically, even though I'm in the stock market, you know, I'm gambling. So I'm doing calls and puts, trying to guess the short Term, what's going to happen? Yeah, no, shocker. I'm not a genius on Wall street, so I lose that money.

[A]

Even the geniuses barely beat the overall market. So. Okay, do we do this anymore?

[B]

No. Now I just. I sit there and watch the $10 in the account. I don't even think it's invested.

[A]

Have you learned your lesson? Because that would be the important thing here. 22. It's. It's still okay to start fresh around now? Yeah, even 25. Like, I'm happy with that. 30. Sure. So it's not like you don't feel like you've lost your life, but it's important. Did you learn your lesson?

[B]

Yeah, I. I think I've learned my lesson or I'm learning my lesson. I don't know. It's. If I. If I could just get back and really start, you know, focusing on my budget, not going out to eat.

[A]

Okay. Speaking of going out to eat, Noah just told me you're getting barbecue after this. Buddy, barbecue is expensive. Can't afford it. Can't afford it. You can't afford it? Yes. We give you travel reimbursement, but you set for the travel. You can't afford it. Where were you going to barbecue?

[B]

Interstellar.

[A]

Interstellar's good. I know you can't.

[B]

I gotta eat something. Like, I'm.

[A]

Don't do that. We already had the thermostat. I promise. There's grocery stores in Austin. Interstellar is going to cost you money. Like, if you get the full experience there, it's going to cost you money. Barbecue is expensive. I don't know about across the country, but Texas barbecue is expensive because brisket's expensive. Beef ribs are expensive. You can't do that. How long have you been here?

[B]

We flew in yesterday. We flew into San Antonio yesterday.

[A]

How much money have you spent while here?

[B]

Probably around a thousand dollars. Oh, I went to the Mothership last night.

[A]

And who was performing last night?

[B]

Joe Rogan and friends.

[A]

Oh, yeah. It's a good show, Shane.

[B]

Oh, it was awesome. It would.

[A]

Damn it.

[B]

I don't regret it.

[A]

Joey Diaz and Tony and still a great show. Yeah, it's a good show, but I love Gillis. But yeah, I kind of jealous. I wouldn't have done it if I were you because I don't know where you got that 800 from. $800?

[B]

It. Well, the drinks there are quite expensive.

[A]

Yeah, two drink minimum. Well, they didn't really hold that minimum keyword. I'm sure you went well above. Yeah, beyond. Okay. Don't get barbecue. You're gonna make me want to go back and see the show because I want. I want to see Shane.

[B]

Is it bad that I'm like, was planning on going there again tonight?

[A]

Yeah. You got tickets again?

[B]

No. Well, we did the standby line and it actually worked.

[A]

Yeah, we were there.

[B]

We were early, hour and a half before the show and then you don't get in until 30 minutes after. See, we waited like two hours.

[A]

They didn't get the opener. Okay, that's fine. I mean, I just, I'm struggling here. I mean, you, you want to make more money. Like, what's your career plan like? Because you said my goal is to make more money and you might need to make more money to get out of debt. What's your career plan? It doesn't matter if you just drain it all down the drain gambling. But you know, what's your plan? Because right now you're stocking shelves or whatever and pizza driving.

[B]

I'm looking into working old Dutch full time.

[A]

Doing what?

[B]

Just this is my same weekend job, but just the Monday through Friday as well.

[A]

Okay.

[B]

Otherwise I've also been looking into just like working at Cub Foods, grocery store up north. Working like overnights or something.

[A]

Okay.

[B]

I'd be making it.

[A]

What do you want to do? If you want the grocery store life, that's fine. People make great careers there. Actually, Heb, down here, people actually make good careers there, so that's fine. It's typically not what you hear, so I just want to make sure.

[B]

I don't know. I like, I. I've always worked in the food and retail industry, so it's like what I'm used to. I don't necessarily know if it's what I want to do.

[A]

Totally fine. Listen, if you ever want to take a tech certification course through course careers, I'm happy to put you through that for free and see if you learn something else that you want to go through. That's fine. I guess I'll do your budget. Cuz I do every guest budget. I really don't think it matters here. I'm going to be honest because you have to deal with your addiction first. Yes, you have major behavioral problems of spending money in food. But again, if you have that extra money, I think you're just going to gamble anyway. So I don't think it's. And then you did the stupid thing with the, the, the seats and you don't even seem to think that that's wrong or bad. So it's just like, I don't think this matters. But I'm gonna do it for you anyway. 4,500 budget. Okay. Debt, minimum payments. Let's get this. 6.96 for the car. That one's obviously ridiculous. And 14 cents. The Discover was $82. And 51 for the Freedom. And 717.55 for the Amex. 1,000. $1,546.69. Okay, how much for your rent? Is 500. Utilities?

[B]

No utilities?

[A]

Dude, you have the rent to dream. My gosh. Minneapolis is cheap apparently.

[B]

What? I'm like 45 minutes north of Minneapolis.

[A]

Yeah, 45 minutes north of Austin is 1200 bucks. Okay, whatever. Internet?

[B]

No.

[A]

Oh my gosh. Renters insurance?

[B]

No.

[A]

Live in the drip. Why?

[B]

Why?

[A]

You should. It's safe to get renters insurance. I'd get that. I'm gonna budget 10 bucks in for that gas. Boom, boom. Drive, drive skirt, skirt, zoom, zoom.

[B]

A month, probably 250.

[A]

Okay. Car insurance. It was a big one.

[B]

380.

[A]

Yeah. I don't like that phone bill.

[B]

My parents pay for it.

[A]

Good. We need when you need to get your own de helium for 20 bucks a month. Trust me. 100 bucks for your TP fund. Anything else you need to survive, you further put those in different buckets. When you do your own budget. 300 for groceries is perfectly fine. Use our meal plan, you adjust it for what you need. But 300 is perfectly fine. I promise you. Subscriptions. And do you have any pets?

[B]

I do have a dog.

[A]

Okay, how much a month for food?

[B]

Like nothing. Maybe he's a small dog. He has 20. I guess.

[A]

Pet insurance?

[B]

Oh gosh, whatever that is. Probably another 25.

[A]

Okay, 20. Anything. Jim?

[B]

I'm on my parents gym.

[A]

Okay. Medical, health care, prescriptions, co pays?

[B]

No.

[A]

Okay. Anything else I need to put in your budget? That I did not.

[B]

Well, there's the Timberwolves tickets which are a monthly one. I don't know if you're.

[A]

For the Timberwolf Buddy, you're at $3,126. You could pay off your debt insane amount of time. How much is the Timberwolves tickets?

[B]

1100.

[A]

That's the most ridiculous stupid thing I've ever heard in my life. And now all of a sudden we're at $4,226. Giving you only $4,703. Or sorry, $273 a month. We had a thousand three hundred seventy three dollars a month. But you decided. Nah, that let's only have 273. The car. The car. You might be able. It Depends what your car is actually worth. I think you borrow $23,000 potentially as a personal loan or car loan or multiple. You sell this car, you use 13 of that to pay it off and then you go get a ten thousand dollar car that you get a mechanic approved, that it's going to last and be safe for a few years to come. That's a potential way to get out of that situation, make it easier. Then you owe $23,000 instead of $40,000. Interest rate's gonna be higher. Minimum three payments gonna be probably around the same. But it's a lot less debt to pay off.

[B]

Yeah, but the, the payment would be the same on a. So I'd be taking on a loan for $23,000.

[A]

Yeah. And. Or multiple. But yeah.

[B]

And then selling the car for the. Using the over and then. Yep, 10,000. So essentially I'd trade 40,000 for 23,000.

[A]

If you can get approved. Yes. Okay. Which obviously that's a substantial dip if you can get out of this ticket thing and I know you really do not want to and you might make money. Yes. But you are putting yourself in such a precarious situation until then. It doesn't make sense. I would get out of debt before you try those. That's essentially, let's pretend it's like owning a business. I don't want you to get out of debt. Have a fully funded emergency fund before you do that anyway. So what I would do is I would try to sell that it just break even price now. Just get out of it so you have the extra money to throw it towards the debt, then pay off your freedom and Discover Card in the matter of just a few months and then grind away at the amex.

[B]

Well, shouldn't I wait on the Freedom until it hits interest occurring? Because that one's zero percent right now.

[A]

Yeah. So what you could do is in whatever debt payoff method you decide to do. Well, again, I'm really, I'm. I'm kind of honestly rushing through this part right here because I really don't think any of this matters. Unless you do the gambling thing. I don't think you're gonna get rid of the tickets and you have to be willing to get rid of the car. So there's a lot of things that are mostly the gambling thing, but either way, sure. Yeah. Kill the Discover Card, start paying as much as you can towards the Amex at that point and then when the Freedom's coming up, wipe it off before it hits interest and then continue paying off the Amex and then the $23,000 in personal loans that you have for the car. Then you're debt free, have a fully funded emergency fund, start contributing 20 to 25amonth to retirement. Just. I'm not going to tell you what to invest in. Take our investing class. Take our investing class. It gives you good ideas and explains lots of different investing strategies that professionals use. One thing I promise you is it's not single stock Bull and meme stocks. Okay? I want you to be able to retire. That's what I would do. But I need you to go talk to a therapist now. I need you to potentially change friends. I need you to at least have a conversation with your friend saying you just can't do this anymore. You're destroying your life. And maybe they'll understand. If they don't, then they're not your friends to begin with. I need you to potentially go see, go to a group for this gambling thing because again, I mean you took out a thousand five hundred dollars this last month for gambling minimum. And that's obviously, we just can't do that right now. I mean, you're going negative, I mean in terms of your spending. So again, you make what, 4,500 net? But what went out total, including debt going up and what you're doing with the gambling and all this stuff was $8,000. Like that's. It's a bit more than 4,500.

[B]

Yeah.

[A]

I don't know, man. That's what I need you to do. If you don't actually put in the work to try to actually save yourself from your addictions. And I'm not the expert in that. I need you to make a connection with resources. Absolutely. But I need you to go pursue the actual help for yourself. And if you don't do that, I don't think there's a actual sustainable future here. And I'm. That breaks my heart. You can live a great life. It requires some sacrifice. And you actually go in seeking that help. And I hope you do. And I hope as we do follow ups, you can come down here, we can do virtual whatever. It's up to you that we see substantial progress and that you're getting help with that. Other than that, I don't know much else that I can do for you right now. But it's definitely a telling story for many of the people that are watching it. Let's get your Hammer Financial score, you said a zero. And the debt, the spending in a project, I mean it was $8,000 versus 4,500 0 out of 10 the debt. The Timberwolf thing is absolutely stupid. Beyond risky with the car. No collections, no IRS debt. So it's a 1 out of 10 emergency fund. There's nothing in savings, correct? No 0 out of 10 retirement $10 0 out of 10 real estate? There's nothing 0 out of 10 hammer financial score. I'll round up to be nice. 0.5 out of 10 make sure to check out all the resources LinkedIn in the description below as they are what I use or would use in specific situations, including the best budgeting program and best investing program where you get a free hundred dollars from Moomoo Gifted to me through you. Gifted to you through me through them. Whatever the doesn't matter. This episode's been wild. Let's go to the Post Show. Today on the Financial Audit Post show, this is Strawberry Banana Smoothie or Dead Fish. Oh, it's actually really bad. Oh, it's really bad. This actually can blow Social Marshmallow. All right.

[B]

Darn shame. I can only win on a gamble.

[A]

That'S kind of up. We're doing this with you. To watch the Financial Audit Post show, click the join button below.