Financial Audit with Caleb Hammer

Episode: "I (Almost) Gave Up..." | Financial Audit
Date: October 22, 2025
Guest: Eric, 27, from St. Paul, MN

Main Theme

This episode dives into the chaotic and unsustainable personal finances of Eric, a 27-year-old husband and father of two, who recently navigated unemployment, crushing debt, overspending habits, and failed attempts at budgeting. The conversation revolves around Eric’s financial mismanagement, frank self-assessment, and the often comical—but sobering—reality of his and his family's spending habits, with host Caleb Hammer offering tough love, frequent incredulity, and actionable steps for change.

Key Discussion Points & Insights

1. Background & Income (01:39–04:26)

• Eric's Career: Recently lost a job as a chemical technician, started a new job as an electrical technician.
• Income: $1,700 per paycheck, twice a month ($3,400/month).
• Wife’s Income: Teacher’s aide earning about $1,600 every two weeks ($3,200/month).
• Family Structure: Married with two young children (2 years and 10 months old).
• Living Arrangement: Rent on a four-bedroom house in St. Paul for $2,600/month.

2. Spending Habits and Debt (04:26–15:16)

• Debt Amount: ~$133,800 across credit cards, Affirm loans, student loans, and a car loan.
• Initial Deflection: Eric blames wife’s “needs” and her spending on books—later admits it’s his own overspending and impulse purchases.
• Food Spending: While on unemployment, regularly spent $1,500–$2,200/month eating out, mostly through DoorDash—even ordering food to his own car while working as a DoorDash driver.
• Self-Reflection: Initially lacking, Eric passively acknowledges his food-related compulsions only when pressed.

“You spend over your unemployment check just going out to eat?”
— Caleb (08:03)

“Because I like food.”
— Eric (08:20)

• Absurd DoorDash Anecdote:
  Eric admits DoorDashing food to his own car while he’s out DoorDashing for work.

  “Sometimes you’re too lazy to get out of the car and you get another order…” (12:28)

3. Family Dynamics, Income Allocation, & Control (15:16–38:42)

• Eric’s Control: Manages all household finances himself, including taking 70% of his wife’s paycheck (she gets 30% for discretionary spending).
• No Joint Account: Prefers not to have one, doesn’t trust wife with full financial access—traces this to her prior debt, though he’s now the one in financial distress.
• Money for Essentials: Eric covers utilities and other household expenses; mom contributes $1,000 towards rent; wife pays remaining rent.
• Lack of Transparency and Partnership: Eric sees himself as a “control freak” and resists sharing financial control.

“No, I don’t trust her with the money at all.”
— Eric (34:45)

“You’re being a dumbass and you’re not willing to be a partner with your wife… There’s no time to fix it if you’re not willing to do something.”
— Caleb (36:01)

4. Budget Breakdown & Illogical Purchases (38:42–52:09)

• Enormous Outflows: Last month, Eric spent over $10,800 (including bills, food, discretionary purchases) while only bringing in around $3,400.
• Unnecessary Debt: Multiple Affirm loans for things like a now-sold lawn mower, home appliances, and household wants.
• Frivolous Reasons: Consistently chooses brand new, premium items rather than frugal or secondhand options (e.g., couches, grills, wallet).
• “Affirm Everything”: Relentlessly chooses ‘buy now, pay later’ options, increasing his monthly obligations and interest, even for basics.

“You affirm everything, yet you also blow all your money.”
— Caleb (74:45)

• Credit Card Misuse: Opens new cards (some post-bankruptcy), maxes out, pays only minimums, cycles between cards for basics, fast food, and “gas cards” that become more debt.

5. Indicators of Financial Chaos (52:09–86:00)

• Overdrafts & Late Fees: $100s lost to overdraft, interest, and late fees; inconsistent bill payments despite claiming the contrary.
• Student Loan Forbearance: $76,000+ in student loans (federal and private) compounding interest due to paused payments.
• Major Car Loan: $41,000 on a Toyota Camry now worth much less; prior car was repossessed, still owes $16,000 on it.
• No Emergency Fund or Retirement: No savings, IRAs, or investment accounts—confusion about what constitutes retirement assets.

“Your entire everything is not great.”
— Caleb (22:51)

6. Personal Dynamics & Humorous/Ridiculous Segments

• DoorDash to Car: Eric’s laziest “hack.”
• Bulk Candy Logic: Refuses to buy in bulk, insists single bars are “cheaper” (defies math and common sense).
• Amazon Order Overshare: Dildo discussion leads to awkward, frank marital talk and racial commentary from Eric (“She’s Danish. She likes white people…”).
• Affirm Loans for Everything: Mower, grill, flights, hotel for Vegas bowling trip—none paid off, most already resold or consumed.

“Are you embarrassed?” — Caleb (75:40)
“Yeah.” — Eric

Memorable Quotes & Moments (With Timestamps)

• Caleb (09:12):
  “Well, I do when I’m budgeting and want money.”
• Eric (12:03):
  “Sometimes you’re too lazy to get out of the car and you get another order.”
• Caleb (14:36):
  “DoorDashing to your parked car while you’re out DoorDashing is insane. I’ve never heard of that.”
• Caleb (36:01):
  “You’re being a dumbass and you’re not willing to be a partner with your wife.”
• Eric (34:45):
  “No, I don’t trust her with the money at all.”
• Caleb (74:45):
  “You affirm everything, yet you also blow all your money.”
• Eric (86:43):
  “Sounds like I need treatment for food.”
• Caleb (101:21):
  “How much debt do you think he has? 4,000? Oh, let’s try $133,779.”
• Eric (101:22):
  “Oh, dear God.”

Financial Recommendations, Tough Love, and Action Steps

• Immediate Debt Freeze: Stop acquiring new debt and using buy-now-pay-later.
• Budgeting Bootcamp: Host offers access to his budgeting app, suggests Eric undergo thorough behavioral change before considering bankruptcy or consolidation again.
• Sell the Car: Trade in underwater Camry, downsize to a cheap used vehicle to reduce payments and debt.
• No More Individual Credit Cards: Cut up cards (though Caleb notes this does not address root behavior); close accounts.
• Three Months of Consistency: Prove new spending habits, stick to budget, then revisit consolidation or bankruptcy options.
• Consider Assisted Debt Solutions: Only after behavior proves sustainable.
• Family Financial Counseling: Strongly implied—Eric’s approach to “controlling” the family finances is damaging and needs transparency.

Noteworthy Segment Timestamps

• 01:39 – Eric introduces himself and his financial situation
• 04:26 – Acknowledgment of debt and the "thick stack" of paperwork
• 07:55 – Food spending revelations ($2,200/month eating out)
• 12:03 – “DoorDash to my own car” anecdote
• 15:16 – Wife’s income, control, and joint finance aversion
• 25:45 – Spending $9,000–$10,800 in a month, detailed expense walk-through
• 35:09 – Explanation of not trusting wife, “control issues”
• 52:41 – “You are the villain”—Harsh reality check from Caleb
• 61:05 – Multiple Affirm debts, high interest, unnecessary purchases
• 74:49 – “Affirm everything, yet you also blow all your money…”
• 83:50 – Multiple maxed-out credit cards, post-bankruptcy cycle
• 89:10 – Camry loan breakdown; car underwater by $10,000
• 92:20 – Student loan disaster, pending repayment shock
• 101:21 – Post-show tease, confrontation with wife

Conclusion – Caleb’s Final Assessment & Eric’s Hammer Score

Hammer Financial Score: 0/10

• Spending: 0/10
• Debt Handling: 0/10
• Emergency Fund: 0/10
• Retirement: 0/10
• Real Estate: 0/10

Caleb calls for radical change, behavioral counseling, and a total household budgeting overhaul. Listeners left with a mixture of entertainment, shock, and clear takeaways on what not to do with household finances.

For full context and additional insights, including the explosive post-show call with Eric’s wife, visit the podcast’s Hammer Elite extra content.