Financial Audit – "I Had To Kick This Dipsh*t Off Financial Audit"
Host: Caleb Hammer
Guest: Benji, 25, Los Angeles, CA
Date: April 23, 2025
Episode Overview
In this bracing installment of Financial Audit, host Caleb Hammer sits down with Benji, a 25-year-old aspiring entrepreneur and city contractor from Los Angeles. The episode, tinged with frustration and brutal candor, swiftly unpacks the chaos behind Benji’s finances—uncovering persistent overspending, mounting credit card debt, and a lack of financial discipline. The conversation ultimately derails, leading to Caleb dismissing Benji from the set, a rare and dramatic move for the show.
Key Discussion Points
1. Benji’s Job and Income Realities
- Main Job: City contracts (hourly, variable schedule) and side hustle in classic car restoration.
- Wages: $26/hour, averaging 30 hours/week.
- Monthly take-home: ~$2,400.
- Challenges: Inconsistent hours due to unreliable transportation (his car, and even his grandmother’s backup, frequently breaks down).
“You want to work 40 hours a week because you make hourly.”
—Caleb (03:48)
2. Cost of Living Versus Spending Habits
- Benji claims to “cut corners,” especially on food, yet…
- Spends $800/month eating out (frequent Uber Eats and fast food), despite saying he has “no crazy appetite.”
“You spend 800 going out to eat…shut the f*** up.”
—Caleb (04:39)
- When pressed about meal prepping, Benji, self-described former chef, insists he lacks time and motivation, which Caleb contests as a rationalization.
- Total monthly spending: Approximately $3,300—about 37% more than his income.
"You spent 37% more than you make on a monthly basis.”
—Caleb (11:00)
3. Rent-Controlled Apartment and Living Arrangements
- Benji lives in a long-held, rent-controlled Pasadena apartment ($972/month), inherited through his family.
- Apartment has mold and is below code; landlord passed away, property now managed by a company trying to buy tenants out.
- Offered buyout: $40,000.
- Caleb walks Benji through what would happen with a buyout, exposing that Benji’s plan would only cover a few months’ rent at prevalent LA prices, likely leading back to hardship.
“You have about six and a half months and then you drain your emergency fund and then you’re on the street.”
—Caleb (22:09)
4. Debt: Credit Cards and Installment Payments
- Credit Card Balances: Multiple cards over the limit, past due, with exorbitant interest (up to 30%).
- No consistent payment strategy; some cards are months behind on minimums.
- Additional debts via Affirm (for PC parts, groceries, other non-necessities).
- Rationalizes missed payments: Claims to be focusing on higher-interest cards; admits to never “getting around” to paying.
“There is not a debt payment strategy in the world that says don't pay [a card’s minimum].”
—Caleb (55:46)
5. Side Hustles and Entrepreneurial Overreach
- Multiple entrepreneurial angles: classic car restoration, EDM lifestyle media/clothing company, gold prospecting, Pokémon card investing/reselling.
- Track record: None have proven stable or lucrative; for example, two years of the EDM brand yielded about $2,000 in profit (mainly from a single copyright-edgy shirt design).
- Pokémon investment: $2,400 invested, self-values at $4,500—unsubstantiated without actual sales.
“You have no focus. You try a thousand different things and you're going to be trying a thousand different things until you never find one your entire life.”
—Caleb (74:15)
6. Chronic Defensiveness and Lack of Self-Awareness
- Benji consistently downplays the severity of his situation, defaulting to anecdotes about others ("other people do this"), comparisons to friends' struggles, and justifying reckless behaviors as "cutting corners".
- Caleb’s Breaking Point: Host becomes exasperated by Benji’s refusal to accept responsibility, defensiveness, and repeated rationalizations.
“You justify everything. You will not listen to one thing. This is unproductive. And I'm done.”
—Caleb (86:32)
7. Notable Final Revelations
- Benji is two years late on his taxes (revealed by show staff at the end).
- Caleb, overwhelmed and dissatisfied by Benji’s lack of actionable insight or accountability, asks Benji to leave before finishing the audit—a show first.
Memorable Quotes & Moments
-
On false frugality:
“I'm cutting corners on eating…I don't even eat much.”
—Benji (04:34)
“Shut the f*** up. $800 going out to eat.”
—Caleb (04:39) -
On the 'goal' of entrepreneurship:
“That’s the goal again.”
—Benji (84:57)
“There is no goal. You have a thousand goals.”
—Caleb (85:06) -
Deflecting responsibility:
“I just didn't get around to paying that one.”
—Benji (56:20) -
On comparing to others:
“I feel like a lot of people also do [this]…”
—Benji (52:06)
“I don’t give a f*** what most people do. This is your life.”
—Caleb (51:17) -
On the market for Pokémon cards:
“Everything I've invested in, I've made money on.”
—Benji (66:50) -
Caleb’s breaking point:
“You're insufferable. I'm sorry, you're insufferable. I don't like you. I've officially decided I don't like you.”
—Caleb (64:02)
Timestamps by Segment
- 00:59-02:40 – Early sparring on attitude and spending, Benji’s job details
- 04:34-06:39 – Food budget contradiction and Benji’s eating-out explanation
- 10:15-14:48 – Surviving in LA: Rent-controlled apartment, buyout offer
- 18:02-24:23 – The $40,000 buyout fantasy, whiteboarding disastrous “plan”
- 34:53-41:54 – Attempts at side hustles; meal prepping debate
- 50:10-54:00 – Credit cards: overlimits, rationalizations, and missing payments
- 60:18-63:38 – Job market delusions; arguments about LA wage data
- 64:02-75:57 – Pokémon and other speculative investments picked apart
- 82:26-86:32 – Final audit: overdue Affirm/Target/Amazon, confrontation escalates
- 86:32–end – Caleb asks Benji to leave the set; emotional aftermath
Summary & Takeaways
- Benji’s financial situation is dire: Overspending, persistent credit card abuse, and a total lack of accountability dominate his finances.
- Skillset mismatch: He undervalues the importance of reliable employment and overvalues unlikely entrepreneurial success, defaulting to compare himself to peers rather than data or best practices.
- Host’s frustration reaches a show record: Caleb’s tough-love ethos turns to outright dismissal, foregrounding just how little progress could be made with a guest so unready to change.
Tone & Language:
Caleb is blunt, exasperated, and at times openly hostile, seeking to break through Benji’s defenses. Benji remains mellow, rationalizing and minimizing, rarely acknowledging error. The episode is fast-paced and packed with sarcasm, direct insults, and moments of gallows humor.
For Listeners:
This episode is an unvarnished look at denial, rationalization, and the limits of financial advice when self-delusion reigns unchecked. It’s a tough listen—but an instructive one.