Financial Audit Podcast Episode Summary
Episode: Goth Freak Is A Wannabe E-Girl | Financial Audit
Host: Caleb Hammer
Guest: Monica (pseudonym)
Date: March 17, 2025
Episode Overview
In this episode, Caleb Hammer conducts a financial audit for Monica, a 23-year-old from Hartford, Connecticut, who describes herself as a "goth on financial audit." Monica shares her tumultuous journey through jobs in tattooing, security, and content creation, while grappling with debt, a major failed business venture, and inconsistent budgeting. The discussion dives into personal finance red flags, the perils of mixing business and friendship, and the urgent need for self-sufficiency as an adult.
The episode is a blend of blunt assessment, hard truths, and moments of levity as Caleb attempts to bring Monica to financial reality, using his signature direct tone.
Key Discussion Points & Insights
Monica’s Background, Jobs, and Income
- Tattooing & Apprenticeship:
Monica left tattooing after bad apprenticeship experiences, citing predatory shop owners and a toxic environment.“The owner was kind of...I definitely would say he’s a predator, in my opinion.” – Monica [04:05]
- Transition to Security Work:
Currently works security at Target ($19/hr, ~39 hrs/week, $2,500 take-home per month), previously at an amusement park and a bank ($24/hr) but left both due to job dissatisfaction. - Financial Misinformation and Lack of Budgeting:
Monica was drastically unaware of her actual spending, initially estimating $600/month, but actually spending over $6,000.“How are you so far off?...That is crazy.” – Caleb [11:16]
Tattoo Industry Experience & Impact
- Workplace Misconduct:
Monica recounted widespread misconduct and abuse of power in tattoo shops, including being pressured for sexual favors in exchange for apprenticeship hours.“He would want to exclusively kinda do apprenticeships for girls and then...‘you want these hours, you have to do something for me.’” – Monica [04:26]
- Barriers to Career Mobility:
Required apprenticeship hours don’t transfer between shops, even if leaving abusive environments.
Major Financial Disaster: The Failed Tattoo Shop Venture
- The Loan:
Monica took a $19,000 loan at 13% interest to help “friends” renovate a hair salon into a tattoo shop based only on verbal agreements; she has no formal contract, making her solely liable for the debt.“When money gets involved, always get a contract going. Always get a legal contract…” – Caleb [22:51]
- Broken Promises:
Supposed business partners failed to repay her as promised, leading to fractured relationships and sporadic, insufficient payments. - Avoiding Confrontation:
Monica is scared to confront her older business partners, further stalling repayments and leaving her in financial jeopardy.“It’s hard to try to resolve things amicably and contact, but people aren't responding… I'm not like a police officer. I can't go and force people." – Monica [37:56]
Spending Habits and Debt Breakdown
- Credit Card Usage:
Uses multiple credit cards (Target, Amazon, Built, Chase) with balances carrying over, especially on the Built card (used to pay rent). - Overspending:
Heavy discretionary purchases including makeup, gaming equipment, and “sweet treats” like press-on nails or limited edition Hello Kitty items.“$965 is what you spent...that is almost what came in last month, and you added that to a credit card you can’t pay off while you’re negative in a checking account.” – Caleb [52:11]
- 401k Cash-Out for a Gaming PC:
Monica cashed out her $3,000 401k from a previous job to fund a PC, desk, monitors, and gaming accessories to support her move from TikTok to YouTube.“That $3,000 would have been like $25,000…Why did you possibly pull it out?” – Caleb [66:14] “To buy a PC.” – Monica [66:40]
- Current Debt:
- $19,000 personal loan
- $9,800 car loan (with ~10% interest)
- Built card with growing balance
- Target, Amazon, Chase cards (Target card sometimes paid monthly, others carry balances)
- Living with Boyfriend, Supported by Mom:
Monica splits $1,550 rent, pays some for gas, insurance, and therapy; boyfriend covers internet, mom covers phone, some pet and healthcare expenses.
Attitude, Mindset, and Self-Awareness
- Financial Naivete and Dependency:
Monica admits she’s never really been responsible for herself financially, having always been bailed out by her mom or boyfriend.“You're mama’s little girl. And you are also taken care by the boyfriend. You're just taken care of by people…You’re a child.” – Caleb [77:45]
- Avoidance of Discomfort:
She avoids difficult conversations or confronting those who owe her money, repeatedly delaying action. - Self-Described Limitations:
Notes that she’s “a little slow” to process things, according to her therapist, but still expresses a desire to learn how to improve her financial situation. - Hopeful Aspirations (Disconnected from Reality):
Monica wants to own a house, start a family, and move into social media full-time, despite poor financial standing and ongoing debt.“You want to start a family and pursue social media? Yeah. No. You’re not in a position for either of those things.” – Caleb [70:06]
Notable Quotes & Memorable Moments
- On Leaving Tattooing:
“A lot of people in the tattoo industry start off tattooing in jail…there’s a lot of shady characters.” – Monica [03:51]
- On the Failed Shop:
“You verbally agree to split it 33.33%...but the only person who wasn't making payments was me, because I'd taken the money out for them…” – Monica [22:25] “When money gets involved, always get a contract going. Always get a legal contract going.” – Caleb [22:51]
- On Inability to Budget:
“That loses $1,000 maybe...You are off. It was 10 times higher than you said. 10 times higher.” – Caleb [11:48]
- On Spending vs. Income:
“You spend $5,000 more than you made...That’s not girl math. That’s stupid.” – Caleb [62:48]
- On Cashing Out Retirement:
“You withdrew it all?” – Caleb [66:14]
“Yeah.” – Monica [66:14] “Why did you possibly pull it out?” – Caleb
“To buy a PC.” – Monica - On Dependency:
“You are mama’s little girl. And you are also taken care of by the boyfriend…You’re a child.” – Caleb [77:45]
- On Relationship Prospects:
"He told me that even if he tries to give me things that I should do, that it’s hard to get me to listen because I'm stubborn.” – Monica [46:37]
- On Business Partners:
“I just trusted them as friends, that’s all. I didn’t think I needed to [get a contract].” – Monica [22:47]
- On Biological Clock (Family Planning):
“There’s a biological limit for like, when you can have kids.” – Monica [79:36]
“Yeah, but...we live in 2025. It’s not 1802.” – Caleb [79:45]
Timestamps for Key Segments
- Tattoo Industry Challenges: 03:00–08:30
- Failed Shop Loan & No Contract: 17:00–37:00
- Spending & Credit Card Habits: 43:00–55:00
- 401k Cash-Out for Gaming PC: 65:41–66:54
- Relationship & Family Planning: 46:29, 79:36–79:56
- Budget Breakdown & Caleb's Assessment: 75:17–77:45
- Root Problems (Enabling, Dependency): 77:45–78:20
- Final Hammer Financial Score: 79:36–80:14
Host's Final Assessment & Recommendations
- Spending: “0/10” – Monica is spending far above her means.
- Debt: “2/10” – The overall debt is not catastrophic in absolute terms, but disastrous for her income and situation.
- Emergency Fund, Retirement, Real Estate: “0/10” – No meaningful savings or investments; depleted retirement fund.
- Conclusion:
Monica must (1) drastically cut spending, (2) aggressively pay down debt (especially the personal loan), (3) secure more stable income (work more hours if possible), (4) stop enabling dependency, and (5) avoid further financial entanglement with unreliable parties. - Quote:
“You need to go work 60 hours a week...And then start paying off your debt pretty aggressively. Make sure your friends pay for this debt...You just need to grow the f— up.” – Caleb [78:32]
Tone & Audience Takeaway
Caleb’s trademark mix of humor, exasperation, and tough love is on display. Monica’s case offers a cautionary tale about the real costs of financial naivete, failing to build boundaries, and relying on others to manage adulthood.
For listeners:
This episode is a vivid, at times frustrating, journey through financial mismanagement, the perils of avoiding contracts, and the importance of personal accountability. It’s both a warning and a call to action for young adults navigating independence for the first time.