Valley-Girl Feels Oppressed Because She’s White | Financial Audit

Summary

Financial Audit Podcast: "Valley-Girl Feels Oppressed Because She’s White"

Host: Caleb Hammer
Guest: Maya, 24, from Vista, CA
Date: October 11, 2024

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Overview & Main Theme

This episode features Maya, a 24-year-old Certified Nursing Assistant, who is grappling with significant debt, family financial entanglements, and a desire to pursue medical school. The central theme is Maya’s financial chaos: though she lives at home rent-free, she’s amassed substantial credit card and student loan debt due to a combination of family manipulation, impulsive spending, and a lack of budgeting. The episode dives deep into personal responsibility, parental boundaries, and the realities of financing higher education in America.

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Key Discussion Points & Insights

1. Background and Living Situation

• Maya's Profile: 24, lives at home in Vista, CA; works as a Certified Nursing Assistant (CNA) earning $20/hour.
• Living at Parents' Home: Despite having minimal living costs, she struggles financially due to debt and lifestyle choices.

2. Job & Income Challenges

• Low Hours: Currently working only 4 hours a day through an agency, totaling less than 30 hours per week.
• New Job Offer: Accepted a hospital position (starts in a month) with $23/hour for 36 hours/week.
• Additional Jobs: Plans to supplement income with part-time work at a juice bar and other agency shifts to potentially cross the $2,000/month threshold.

3. Financial Habits and Spending

• Problematic Hobbies: Frequent eating out (Doordash/Uber Eats), gifting, tattoos, vaping, and dating (often paying for others).
• Gift-Giving as Avoidance: Prefers to pay for others to avoid feeling obligated or indebted in personal relationships (03:36).
• Impulsive Purchases: Notable for retail therapy and multiple subscriptions (10:31).

4. Debt Breakdown and Causes

• Credit Card Debt: Around $12,000 across multiple cards, typically near or above credit limits.
• Family Entanglements:
  • Her dad opened several credit cards and a GreenSky loan (for turf/lawn) in her name; most were done with or after her knowledge but under some family pressure.
  • Major car loan and GreenSky loan are technically hers (cosigned) but paid by parents (35:06 & 46:06).
• Student Loans: Around $10,000, used partially for mandatory health insurance due to out-of-state college requirements.
• Owes Aunt: $2,670 (interest-free, paid in installments with dad’s help).

5. Family Dynamics & Conflict

• Fraught Parent Relationship: Mediation and temporary physical separation following arguments about money and boundaries (06:13).
• Financial Misunderstandings: Initially portrayed herself as purely a victim of parental financial abuse, later admits to consenting (albeit naively) to some loans and credit cards (47:17).
• Parental (Over)Involvement: Parents manage or have access to accounts, push major financial decisions, and often pay her bills—complicating her ability to break free financially.

6. Medical School Aspirations & Hurdles

• Academic Background: Triple major (Medical Sciences, Microbiology, Molecular Biology), former D1 soccer athlete (12:29).
• Clinical Experience: Delayed application due to pandemic and missed opportunities.
• MCAT: Took the MCAT three times, consistent (above cutoff) scores, accepted to one (Idaho) med school (13:36).
• Scholarships & Military Route: Exploring the Army’s Health Professions Scholarship Program (HPSP), which is highly competitive (61:55). Uncertainty about military/medical path and significant reliance on external funding.

7. Budgeting Problems & Self-Awareness

• Consistent Overspending: Routinely spends more than she earns, with eating out and impulsive buys undermining her finances (14:13).
• Lack of Budgeting: Never seriously budgeted before; new to financial literacy tools and concepts (19:16).
• Recent Changes: Canceled “a bunch of subscriptions” and cut back on eating out after watching Hammer’s show (44:47).

8. Responsibility & Mindset

• Personal Accountability: Originally blamed external factors; eventually admits to her own harmful choices—“retail therapy,” not tracking spending, and continuing bad habits despite knowing better (09:44; 14:50).
• Victim Mentality: The episode repeatedly highlights Maya’s tendency to downplay her agency, shifting between blaming her family and fleeting self-awareness.

9. Scholarships, Identity & Frustration

• "Oppressed Because She’s White": Expresses belief that being a “white middle-class woman” blocks her from scholarships, which the host quickly debunks (00:45; 15:41; 65:02).

  “White students receive 70% of scholarships.” (Caleb, 00:48)

10. Roadmap and Recommendations

• Hammer's Action Plan:
  • Lock/secure credit to prevent further family misuse
  • Build a strict budget, pay minimums on all but smallest debt (Snowball method suits her psychology best, not Avalanche)
  • Focus all surplus income on smallest card and roll payments forward
  • Aim for $2,500/month income to clear debt before medical school (71:57)
  • Avoid further entanglements and set boundaries with parents
  • Prioritize freedom from credit cards and building small emergency fund pre-med school

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Notable Quotes & Memorable Moments

• On Her Financial Agency:

  “I went into a black hole of spending… retail therapy.” (Maya, 09:44)

• On Gifting and Power Dynamics:

  “I don’t like when other people pay for me, so I always insist on paying… feels like it’s something that can be held against me.” (Maya, 03:37)
  “So what if I said, ‘You paid for me, now I feel like less of a man and deserve to be slept with?’” (Caleb, 04:09, with sarcastic edge)

• On Family-Induced Debt:

  “My dad has opened three credit cards in my name.” (Maya, 04:33) “At first you made it sound so victimy… A lot of this were your decisions more than you suggested.” (Caleb, 50:11)

• On Budgeting Failure:

  “Why are your actions doing that then?... You know some things, but then you go and go to McDonald’s and Barnes & Noble and refuse to change.” (Caleb, 21:26)

• On Relying on Scholarships:

  “I’m not really a good person for scholarships.”
  “Why?”
  “Because I am a white woman that’s middle class.” (Maya, 15:28-15:41)

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Important Segments with Timestamps

• Scholarship Myths ("Oppressed because white") – 00:45, 15:28, 65:02
• Introduction to Debt/Family Dynamics – 04:33
• Employment and Hours Insecurity – 01:22–02:37
• Retail Therapy & Financial Avoidance – 09:44–10:31
• Medical School and Academic Background – 12:10–13:44, 62:24
• Family Conflict: Physical Fight & Mediation – 06:13
• Breakdown of Major Debts (Credit cards, car, yard, student loans) – 17:29–54:42
• Monthly Spending Analysis & Reality Check – 14:13, 41:13
• Personal Responsibility Vs. Family Blame – 47:17–50:13
• Military Scholarship Route (Army HPSP) Explained – 16:03, 61:55-63:08
• Budget Creation & Income Targets – 66:24–73:13
• Host’s Final Financial Score & Takeaways – 75:01

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Tone & Atmosphere

• Caleb’s Tone: Blunt, direct, occasionally sarcastic, but ultimately constructive and focused on pragmatic solutions.
• Maya’s Tone: Defensive, sometimes evasive, self-deprecating, with flashes of humor and vulnerability.

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Conclusion & Takeaways

Maya represents a common but complex millennial financial story: bright and ambitious, yet pulled down by family ties and personal habits. Caleb cuts through excuses, challenging Maya to take full ownership of her choices and chart a workable path out of debt before medical school. The episode is candid, at times uncomfortable, but rich in real-world advice—especially relevant for young adults dealing with intertwined personal and financial hurdles, and for anyone feeling defeated by their own financial story.

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Quick Reference: Maya’s Financial Audit (Final Tallies & Plan)

• Credit Card Debt: ~$12,000 (Goal: pay off in 11 months, needs $2,391/month income for minimum payments + snowball)
• Student Loans: ~$10,000 (income-driven repayment, deferment likely during med school)
• Other Debts: $12k GreenSky (parent pays), $18k car loan (parent pays now, but may shift), $2,670 to aunt (interest-free)
• Spending Triggers: Impulsivity, family pressure, avoidance of feelings of obligation
• Immediate Actions:
  1. Freeze credit files
  2. Cut all unnecessary spend
  3. Follow the Snowball debt strategy
  4. Find additional work to hit income targets
  5. Sever financial ties with parents where feasible
  6. Budget for pet expenses, basic needs; avoid all extras

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For full details and drama, catch the episode on YouTube!
For advanced budgeting/financial tools, see podcast links and Hammer’s free resources.

Transcript

[A]

You say you'll never join the Navy, never climb Mount Fuji on a port visit or break the sound barrier. Joining the Navy sounds crazy. Saying never actually is. Learn [e-mail] America's Navy forged by the sea Support for this podcast and the following message comes from America's Navy. The Navy offers new graduates hands on training and experience in careers like computer science, aviation and medicine. Plus education. And sign on bonuses. Parents help your grads start their career [e-mail] to watch episodes of Financial Audit a week earlier. Check us out on YouTube. You've not applied to different things?

[B]

No.

[A]

Scholarships, grants, student loans.

[B]

I'm not really a good person for scholarship.

[A]

Why?

[B]

Because I am a white woman.

[A]

Shut up. White students receive 70% of scholarships.

[B]

Really?

[A]

Wow. Full of full tuition scholarships. Yeah, but you're white, so you can't get scholarships. You said.

[B]

Hi, I'm Maya. I'm 24 years old. I'm from Vista, California. And this is Financial Audit.

[A]

Thanks for taking the road trip. 1am leaving. That's crazy. Driving through the night in the desert. But what do you.

[B]

I felt crazy during it.

[A]

Yeah, well, your finances are crazy, so it's crazy. Reflecting crazy. Guess it makes sense.

[B]

Yep.

[A]

What do you do for a living there?

[B]

I am a certified nursing assistant.

[A]

Okay. Yes. And what are we making in that position right now?

[B]

About $20 an hour.

[A]

Dang. Now this is where I said outside of San Diego, right?

[B]

Yeah.

[A]

How is $20 an hour stretch in there?

[B]

Not well, I would say it probably would do me better, but my hours are kind of dog.

[A]

What's he getting.

[B]

Right now? I upped it to seven days a week.

[A]

How many hours are you getting?

[B]

Four.

[A]

Huh?

[B]

Four a day.

[A]

Oh, a debt. What? Okay, why is this so little?

[B]

At least what I'm working with right now is an agency. And so the client that I'm working with only has like a certain hour frame.

[A]

Why don't you apply at a hospital then?

[B]

I did.

[A]

Oh.

[B]

So. And I did get accepted.

[A]

You got the job.

[B]

But it won't happen for a bit.

[A]

What? What's a bit?

[B]

Like a month.

[A]

You don't have that tattoo because of me, do you know?

[B]

But I thought you'd say that. Don't worry. Don't get too conceited.

[A]

Well, come on. Okay. And how much are you going to make in this job?

[B]

I will make 23 an hour.

[A]

How many hours a week?

[B]

36.

[A]

Okay, well, how's living in the area going to be on that?

[B]

Well, right now I kind of live with my parents.

[A]

Kind of live with your parents?

[B]

I do live with my.

[A]

You live with your parents. Okay, well, that takes a big chunkier needs out of the gate.

[B]

Yeah.

[A]

That makes me then wonder because usually if living expenses are too high, sometimes we go into debt to survive, but we have the debt anyway. Honestly, that leads me to your hobbies. I never get, like, a hobbies point. I have notes here, and I never have, like, hobbies. I don't go look through the hobbies, but what do the hobbies read? Likes to eat out doordash, slash uber eats Dating. Likes to buy people meals, buying people gifts, tattoos, vaping. Probably not the best hobbies across the board. That is not bad. But the buying people meals thing with our finances, so. Okay, we have debt, but those are our hobbies.

[B]

Okay. I. A thing about that is I don't like when other people pay for me, so I kind of always insist on paying for every.

[A]

Why?

[B]

And it kind of feels that it's like something that can be held against me. Like, you know, okay, well, I paid for this, so now you, like, have to have with me or Now.

[A]

Yeah.

[B]

And say, I know, and I have a hard time with that. So instead I just insist on paying. And then that takes out of the equation.

[A]

But then I would say you paid for me. Now I feel like less of a man. I deserve to be slept with. How about that?

[B]

I never thought about so.

[A]

Well, I hope no one actually says that, but. Okay. So what is going on? Why are we in all this debt? Because again, you're living at home. One of your big needs, it's take care of.

[B]

Well, some of it isn't exactly from me. Some of it. Like, my dad has opened three credit cards in my name.

[A]

In your name?

[B]

In my name.

[A]

Over the course of how?

[B]

Like, since I was 18, since I could get a credit card.

[A]

So over the last six years, he's opened three cards in your name?

[B]

Yeah.

[A]

What is he doing with this doordash? He's just doing doordash.

[B]

Yeah.

[A]

That's one of your hobbies?

[B]

Yeah. It runs in the family.

[A]

So you're both doing it. Okay.

[B]

So he cut back, though. I've cut back a lot.

[A]

Yeah, that's what everyone says before they come on. So. Mm. But he. Huh?

[B]

Nothing I said, I swear.

[A]

But he took what. So that's what he's spending the money on. What was. Was there an intent? Was there conversations around it? Or did he do it behind your back?

[B]

Okay, so one of them was done completely behind my back. And that was a card that he exclusively used on his own. Two of them were done with. Kind of he did it and then he told me. But I am kind of the one that uses those. I think though the one of them, it was because one of our cars were going to get repoed, so he needed to take out a card in order to pay off the fines. And then also there's the loan. The Green sky loan is in my name.

[A]

But did you ever see any of this money?

[B]

No.

[A]

Okay, but there is that in here. That is yours as well, right?

[B]

Yes.

[A]

So it's a combination.

[B]

Yes.

[A]

How's your relationship with your dad now?

[B]

On the mend.

[A]

Okay, go on.

[B]

Basically, a few weeks ago, it all kind of came to a head. And I got.

[A]

A few weeks ago.

[B]

All right. And I got pretty pissed off at something and everything kind of spiraled and.

[A]

Threatened to pay for his meal.

[B]

No, he probably would love that. But actually, you know, we ended up getting into a huge, huge fight. And so, like, it got a little physical and.

[A]

Physical?

[B]

Yes.

[A]

How?

[B]

Like pushing.

[A]

Okay.

[B]

And so essentially he needed to. He left. He like went across the country and like went and stayed with his sister. Cause we just like, needed space because you two. Yeah.

[A]

What about mom? She there?

[B]

Yeah.

[A]

What was her thoughts on this?

[B]

She thought it was best that he leave too, at least for a bit.

[A]

Okay, go on.

[B]

It was just so toxic.

[A]

No, I got you. Go on. Where are we?

[B]

We're explosive. So basically he went out and he went on the east coast with his sister and we had like a mediation and talked about some of the things. And I told him that, you know, one of the big things is because I feel like I'm stuck in a hole, part of which, yes, I have dug myself into.

[A]

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[B]

I went into a black hole of spending. I went into retail therapy. I went into over.

[A]

When? When? For what?

[B]

Because like probably this entire year, at least from like January up until now.

[A]

What does that mean?

[B]

Longer?

[A]

What does that look like?

[B]

That looks like me spending $2,500 on a trip.

[A]

Oh, good. To where?

[B]

Wales.

[A]

What's in Wales?

[B]

My friend went to college there and so went. Yeah, she lives in the States now, but she.

[A]

So what the is in Wales? Her.

[B]

I went to see her.

[A]

She lives in the States now. Okay, so you did that this year.

[B]

Like the end of last year.

[A]

Okay, well, you said this year. So what does it look like?

[B]

Food, concert tickets, hotels. Okay, so you're just living subscriptions, a lot of subscriptions.

[A]

Instead of any chance or hope to live on your own away from the pops who uses your own money. Also just lock your credit, by the way.

[B]

Yeah, I don't know how to do that.

[A]

Okay, well, make a couple phone calls. I'll help you. And also Google exists. Yeah, but we'll help you afterwards.

[B]

I definitely need it to lock my credit. I don't know.

[A]

No, no, no, before that. So concerts are more important than you living on your own? Away from this madness where your pops literally had to move across the country.

[B]

At the time, at the times.

[A]

Right now. Okay, then I have your spending for right now, by the way. Miscellaneous bull. 25 of your spending. It's insanity going out to eat. 15.3% of your spending going out to eat groceries. $26. So that's more important than living on your own, having any semblance of independence and getting away from this chaos. Or you just want to stay there forever and soak in that environment?

[B]

Yeah, definitely. I'm a big fan of temporary escapes. So kind of being able to just get out of it for that.

[A]

You always have to go back.

[B]

Yeah.

[A]

What is your plan? What is your plan, Ben? Going to get into some of these numbers in a second, but. Okay, the temporary escapes. I get it. So what is your overarching plan, Ben? Looking forward, where does life take you?

[B]

Well, ultimately I want to go to medical school.

[A]

Oh, wow. Okay. Do you have a bachelor's degree?

[B]

I have three.

[A]

Oh. Oh, okay. 24.

[B]

Well, I got it in four years.

[A]

Okay.

[B]

There's not that much student loans. I. I got essentially that. Student loans are kind of a huge regret of mine because I essentially got a full ride scholarship.

[A]

What are your degrees?

[B]

Medical sciences? Microbiology and molecular biology with an emphasis in biotech.

[A]

Why are you not in medical school? School?

[B]

Because I was a D1 athlete. I triple majored.

[A]

Did you sport or what?

[B]

Soccer.

[A]

Okay.

[B]

And I did research, published a paper. I worked like part time, full time job.

[A]

Cool. Why are you not in medical school?

[B]

Because medical school requires clinical experience and I didn't have the time to do that. And also I like, in the middle of my college is when Covid hit. So everything shut down in terms of hospitals and volunteering, everything.

[A]

Hospitals were still open, but maybe not for what you needed.

[B]

Yeah, they weren't hiring because they were holding on, so.

[A]

I get it. Also, that was also like four years ago, though. So what are you doing now?

[B]

Well, then I took a complete nosedive on my mcat and I wanted to be better.

[A]

Well, that's different. That's why you're not in medical school.

[B]

Well, I've been working, I've been gaining experience, I've been around.

[A]

Without your mcat?

[B]

Yeah, I can't really. I mean, I.

[A]

So you have to retake. Or have you?

[B]

I've retaken it three times and I got the same score, but I got in. I got into one.

[A]

To a medical school.

[B]

Yes.

[A]

What?

[B]

In Idaho.

[A]

Okay. Operating on potatoes.

[B]

Actually, Idaho's biggest crop yield is Wheat. And Iowa's biggest crop yield is potatoes. Okay, fun fact.

[A]

Very fun. How much came in in this last month for. For money from your job? How much?

[B]

Maybe like 1500, 1278.

[A]

But how much was spent?

[B]

Probably 20. 20. No, no, like 2300. Not 20,000.

[A]

How would spending that have any semblance of being okay to you?

[B]

I definitely don't feel okay.

[A]

Why you do it? Why are your actions doing that then? One, that's the wrong number. It was actually less. But the fact that you thought it was. That it was 14. 1484. But the fact that you said in.

[B]

The 2000s, I have a really bad habit of, you know, Cool.

[A]

You acknowledged it. What have you done to fix it?

[B]

Nothing. Why?

[A]

Because I'm not a magic pill. I can call it the bullshit you seem to already know the bullshit. You thought you spent more than you did. Most people on the show, when they need the call out, they think they spent less than they made even, or at least what they made. But you think you spent almost double what you made. Okay, so what haven't you done? Why haven't you done anything?

[B]

I've just been in the mindset that, you know, like, I'm going to medical school next year.

[A]

You are going to go. You've decided?

[B]

Yes.

[A]

Pain.

[B]

How that is up in the air.

[A]

You've not applied to different things?

[B]

No.

[A]

Scholarships, grants, student loans.

[B]

I'm not really a good person for scholarships. And why? Because I am a white woman. That's middle class and middle class white woman.

[A]

So we're just going to give up and not apply to anything?

[B]

Not necessarily. So I was going to apply for loans, but that can also get a little bit tricky. But I'm trying to go into the military.

[A]

What?

[B]

Yeah.

[A]

When.

[B]

I'm actively speaking with a recruiter.

[A]

I'm sorry, are you going to medical school or the military or both? How does.

[B]

So they have you talking? They have what's called a health profession scholarship program to where essentially they pay for everything. They pay for all my school. They pay me, give me a stipend, yada, yada, and then I owe them four years of my life afterwards.

[A]

After the medical degree?

[B]

Yes.

[A]

Oh, wow.

[B]

So it's like four for four even trade.

[A]

Okay. It's not the worst deal. What are you gonna go into medical wise?

[B]

I don't know yet. I'm. I'm kind of interested in forensic pathology or like infectious disease. So like a medical examiner.

[A]

Interesting. All right, what would you give yourself score? 0 to 10. 0 being the worst, 10 being the best. Where do you think your finances are right now, today?

[B]

Well, I took. I took the score online and I think I got a one.

[A]

Okay. If you want your Hammer Financial score like she took, it's free in the description below. Also, come on the show. Come to Austin. Drive overnight like she did. We'll have you [e-mail]. apply Capital One.

[B]

That's the biggest and the most hurtful.

[A]

So that's what you say every time after a man buys you a meal.

[B]

All right, I wish. I definitely wish.

[A]

All right.

[B]

Not the case.

[A]

All right. All right.

[B]

It's the motion of the ocean.

[A]

Okay. All right. $5,039 and 13 cents. It's a big thick balance at a 5,500 credit limit. All right. And then 189 minimum payment with your payroll is quite. Yikes.

[B]

Yeah. That's like a paycheck.

[A]

More money was spent in the minimum payment, but it almost didn't even matter. Yeah, the balance went down, but not even close to what you paid towards it because you purchased $103 on it. Then one 39 interest is accrued. Why are you spending on this card every single time?

[B]

Well, some of those spending, I think were reimbursed. I think.

[A]

But why on a credit card that is not being paid off?

[B]

Because I didn't have the cash.

[A]

Why didn't you have the cash?

[B]

Because it went on. No.

[A]

Huh?

[B]

No, I've never budgeted.

[A]

Well, if it didn't go. We're not bringing your bank account to 0 to pay off the cards. That obviously doesn't make sense based.

[B]

That's what I'm doing.

[A]

Well, then why would you put that extra on it? We want to put extra, but we don't. Get yourself in a more dangerous situation where you have to put more money on a card.

[B]

That is the 30% interest I had to pay it. I had.

[A]

No, no, no, no. You put $523 towards it.

[B]

But I had to make the purchases. I had to make some of those transactions.

[A]

Stop. I'm saying why'd you put more towards the card if it brought your account to a dangerous low? We want to put more towards the cards in a strategic way. In your case, this would be in the world of Avalanche, but yeah, if it makes it so you literally cannot afford a couple dollar purchase, why the are we doing it this much more?

[B]

I don't know how to budget and I just wanted to get down because there was.

[A]

You wanted to get Barnes and Nobles and McDonald's. Which of those were reimbursed?

[B]

Never mind. I thought that was a different card. None of those were reimbursed.

[A]

Yeah, shocker. Who would have thought? So now we're spending on a card that we can't pay off, that is accruing interest and is ourselves.

[B]

The Barnes and Nobles was a gift. So it wasn't.

[A]

Yeah, I know. It's one of your hobbies. Buying gifts for other people and then going on dates and buying meals. There's the McDonald's I hadn't so in.

[B]

Here year, so I had to buy like, you know, a birthday gift.

[A]

And buy yourself out of debt. What are you talking about? What did you get her? Barnes and Noble.

[B]

I got her. I don't even remember, like, some notebooks, some pens, like little trinkets. A candle, I think that's not even.

[A]

Like an exciting, no offense, gift. I mean, that's not even. You're just like.

[B]

She loves candles.

[A]

I'm going to get that.

[B]

Okay.

[A]

She loves just walking down the aisle.

[B]

Candles.

[A]

Wow. So we go to Barnes and Noble.

[B]

Better than like Pottery Barn. Like anthropology.

[A]

Never been to Pottery Barn.

[B]

You should go.

[A]

No. How long does this take to pay off doing the minimum payment?

[B]

I think the last time I checked, it was like over 20 years.

[A]

21 years. So, you know, some of these things. I'm so confused. This. These are the conversations that really piss me off more than anything where you know some of the things. You know some of your numbers. You think you spent more than you did. You know, you spend more than you did, more than you made. So you know some things. But then you go and you go McDonald's and Barnes and Noble and refuse to change any of the behavior. So you have the knowledge behind it and the refusal to do anything about it, which to me pisses me off to my core. It's the people who go on and they're a little, you know, they're a little dumb with their finances. They just don't know anything. That's okay. You can walk with them, you can lead them, you can teach them what is happening here. But with you, you're just like, I know it, but it. I don't give a shit. So what are we even doing?

[B]

I didn't know until very recently when I started watching your show.

[A]

Mid August.

[B]

Mid August. A month.

[A]

Okay. Now, legitimately, guys, I believe that you, everyone in your life, everyone around us, can actually take control of their financial future and make their lives better. And we've spent over a year here creating tools to help make those goals a reality. Right now, our budgeting Program and investing program are bundled together. A 15% discount, and you get $100 in cash gifted to you right into your Amumu account. There's honestly no time like the present to actually take control of your future. Don't wait. Don't let this opportunity pass you. So that compelled you to look at every balance.

[B]

Yes. And all the interest rates and the little time periods, things. Because I. I did. That one hurts me the most because that one has the most destroying interest rate. Probably in like the 30s, 32, I think.

[A]

Jeez, it's gonna start heading down with the rate cut now. But even still, it's not.

[B]

I mean, and that's why I've been putting a lot of money towards it, because.

[A]

But it doesn't matter. You spending on it with McDonald's. But I was getting some nuggets up.

[B]

With the interest rate I was getting.

[A]

So why get McDonald's on it?

[B]

I was hungry.

[A]

I mean, that's stupid, obviously. I mean, there's literally like beyond accounts in here. Why put it on the most damaging one? That was your thing. You said this is the most damaging one. It's the one I want to get rid of the most. That's why I'm putting more money towards it. So we spend on here because we're hungry.

[B]

Yeah. It was like an answer. I mean, I only normally get McDonald's because I have the apple, so I get like 20% off.

[A]

How the. Okay, well. Okay, you cannot. I know you. I know you're. I know you're smarter than that. I'm asking why you put it on this card. The card you said is the most destructive that you want to get rid of. I don't give a. About an app. I'm asking about this card for sake.

[B]

Okay, I guess I am worried about this card, but I will say I haven't been treating it like my main priority.

[A]

Oh, what's your main priority?

[B]

I. I think I've been trying to snowball. I think this is.

[A]

You said this is your biggest balance.

[B]

Yeah.

[A]

You put $200 towards it. More than the minimum payment.

[B]

Yeah.

[A]

Do you know what snowball is?

[B]

I guess not.

[A]

What is snowball?

[B]

I thought you start with the smaller ones and then it goes bigger.

[A]

And what's this one?

[B]

The biggest one?

[A]

You're not dumb. You're going to medical school. You just literally answered exactly what I was going to say. What the. I think the mcat, if you can at least pass it. You can tell me which one's bigger and smaller and which one would be Paid off first if it's the smallest one. And which one would be paid off last if it's the largest one. So why is more money going into the largest one? What are you talking about?

[B]

That has the largest interest rate. So there was like.

[A]

So you're not doing the snowball then.

[B]

But there was a couple months to where I was getting, like, drafted. Like I was getting, you know, going over the limit because of interest. I wasn't even making purchases.

[A]

If you were making your minimum payment. The minimum payment is really structured to get you below where as long as you paid that if the interest hit, you wouldn't be going above the.

[B]

It was like two. It was like two 20 or two something. And it put me like $50 back. Not now, but there was a couple months. So I've been just trying to get that to where I'm trying to beat the interest on that one. That's like. My goal is like, it's not even paying it off. It's trying to lower the interest.

[A]

You're not a credit card person. You need to use a charge card where you put the money on it. Like the fizz card. You just. You can't manage other people giving you money to use.

[B]

Yeah. That card too got a credit increase when I was in Wales. So that's. I had it paid off and then I went to Wales.

[A]

Oh, good. And that was just the end of last year.

[B]

Yeah.

[A]

Now it's basically up to the credit limit.

[B]

Yep.

[A]

All in one year.

[B]

I did. I did quit my job. I was working for.

[A]

I wish I liked traveling. It sounds like so much fun. You guys spend so much money every single time.

[B]

I. To be fair, I didn't pay for the travel expenses.

[A]

I did. I don't care. You racked up a $5,500 card.

[B]

Fair enough.

[A]

Because of the travel. So I don't. I don't give a shit. It doesn't matter. You just offset it by spending more money somewhere else.

[B]

I think it fell on the floor. That poor pen. Do you have like a whole box of. Just like a bunch of them.

[A]

Just this one damn credit one. We know if we have credit one, we're pretty much in a completely position. It's like the worst credit card you can get.

[B]

I. Okay. I don't even know how I got that card because originally showed up in.

[A]

The mail and you.

[B]

Nope, nope, nope. Not even. Not even. I had a credit one card from. That was like my dad gave me. And he's like, oh, use this if there's emergencies. And I Never used it. I never used it. I never, ever used it. I think I know. And then all of a sudden, he came to me and was like, oh, here, you have your own card now.

[A]

So he opened it in your name?

[B]

Maybe.

[A]

You don't know.

[B]

I don't know.

[A]

You haven't asked? No. Why? You guys have had the conversations.

[B]

I guess I feel like he doesn't know.

[A]

Maybe it showed up in the mail and he probably just accepted it.

[B]

Yeah, probably turned it on.

[A]

Accepted it. Okay. $80 minimum payment. $1,580.55 accrued on this on a credit. Or is the balance on a credit one, which is crazy because that's the one I. Pete, this is the smallest balance.

[B]

Yes.

[A]

You're not focusing on it. You're purchasing on it. The. Are you talking about?

[B]

What were the purchases? There's one card where the purchases were.

[A]

Uber Eats. Uber Eats on a credit one. What are we doing in this world? What are we doing on credit one? UberEats take one of the most expensive ways to get food, combine it with the worst credit card. It's impressive how just. That is.

[B]

Yeah, I think. Was it like the subscription? Because I. I did cancel it. I did.

[A]

I don't think so.

[B]

It wasn't.

[A]

Maybe. I'm not sure.

[B]

Maybe because I did cancel the Uber.

[A]

Eats, but he also got a hotel charge.

[B]

Oh. I had gone to visit the medical school.

[A]

That's fine. Well, but not on a credit one, it's not. Especially if this is the one that I'm focusing on. You don't put more money on it.

[B]

Yeah.

[A]

Even if it's something the visiting the medical school is totally fine. I support that. We don't put it on the card we're focusing on. Especially not a part that credit one, which, by the way, is accruing monthly fees $800 or $8.25, then interest of $40.11. Go through our budgeting class. Everyone in the world should go through our budgeting class, but go through it, please. You need to learn how to spend your. How to manage your money. Because we could afforded this my place, hotel. We could have put this in the budget and it would have been fine because it is something that makes sense for your situation. Go through the budgeting program.

[B]

Yes, I will.

[A]

Can sign up for it at a 15% discount bundled with the investing class right now, by the way. But you need to go through it. You get it for free by being a guest on the show.

[B]

Yes. I am very excited for that, actually.

[A]

Oh, good. I. But again, you're someone who knows your situation without any action, so. All right, we have a Marriott card.

[B]

Yep.

[A]

$1,946.49.

[B]

That's one that I just haven't. It's on the back burner.

[A]

Yeah, it is, because it's only a couple dollars for the back. What are you talking about? You're literally purchased. You purchased on the three cars we've talked about so far. Your words are completely opposite of your actions. This is the one that I'm working on. I'm doing Snowball. Oh, this is just on the back burner. You're spending on all them, and your payments make no sense, so. Plus, with the interest accruing, your balance actually went up. Your balance went up even though you paid double your minimum payment. Minimum payment, 65. 46 hours of interest accruing $105 of purchases. Why? Microsoft Ultimate. There is your Uber subscription. There it is.

[B]

It's canceled now. It's canceled.

[A]

Well, guess what that means the last one wasn't.

[B]

I thought I canceled it, but I paused.

[A]

But it means the one on the credit one wasn't the subscription.

[B]

Yeah, that was probably McDonald's.

[A]

McDonald's. Why McDonald's?

[B]

Because I get 20% off every purchase through Uber Eats. Well, I order through the McDonald's app, but it's through Uber Eats. So, like an Uber person, it doesn't.

[A]

Matter if you're spending, like, 20 bucks on a McDonald's bull. No. Especially on cards with 30% interest and then green gift shop. Really?

[B]

That was reimbursed? That was reimbursed.

[A]

Oh, we find. Oh, this mythical reimbursement that we've been hearing about 15 minutes. Wait, 15? Finally got it. And it's a whole 27 hours out of everything we talked about, this mythical reimbursement has finally actually showed up to play.

[B]

And all the parking charges were reimbursed, too.

[A]

I didn't highlight those, because parking, sometimes you gotta. I didn't call parking. Did you say me call out parking?

[B]

Well, it was more than $25 that got reimbursed.

[A]

No, but of what I've called out so far.

[B]

Oh, yeah, that's it.

[A]

$408 of interest accrued this year so far, just on this card. Your minimum payment. Yeah, keep doing that. Keep on going on. It only takes eight years to pay off.

[B]

Less than 20.

[A]

Huh?

[B]

Less than 20.

[A]

You're trying to. What?

[B]

No, I'm just trying to find a silver lining in this crap.

[A]

Your silver lining. Come on, dude. We take this. We take this. Real.

[B]

Yep.

[A]

Total deposit accounts $5. I can't. Oh, it says horrible. Oh. Oh, that's. That's expensive car for your income situation. Especially for someone that's not going to be really making an income throughout school. I know your thing is a little interesting.

[B]

Depending on the military.

[A]

Depending on that. Also qualificate. Does anyone and everyone get it or how do you do have to get like accepted?

[B]

Yeah, it's an application process.

[A]

Oh. Have you been accepted?

[B]

So I'm going through it based off my recruiter though he says that I have always optimistic. He's. Yeah.

[A]

I mean, I root for you. Good luck. I hope it works.

[B]

It has to.

[A]

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[B]

Yeah. Okay, so there is a story about this too.

[A]

All right, I'm getting crisscross applesauce. Tell me.

[B]

So originally I had a Kia Soul and it was paid off. Loved it. Yada yada and yada yada.

[A]

Lots of yada yadas in the story. What's the yadda yadda? So I feel like we probably skipped the. I was a dumb. No.

[B]

Okay. I. I was in educated. So yes, I was a dumb because I did not really invest time into acknowledging what I was doing because my parents got really worried about me in Idaho and just like, it's nice they didn't think that my kid.

[A]

When was this? How long have you been in Idaho?

[B]

Well, you haven't I got that car in 2020.

[A]

But you're not going to medical school in Idaho yet.

[B]

I know, but I did go to college in Idaho.

[A]

Oh, okay.

[B]

I went to college in Idaho.

[A]

Boy, is he.

[B]

No, no, no. Northern Idaho. Moscow.

[A]

I wanted to say go Broncos, but never mind.

[B]

Boise is in a state.

[A]

Yes. Good job. Go on.

[B]

But. So they were worried about the Kia Soul not doing well in Idaho with the snow and the ice, and so I came back one summer, and they wanted to get me a new car. And they're, you know, let's put it in your name. It'll be good for your credit. Blah, blah, blah, blah, blah.

[A]

Your parents, man.

[B]

And then. And so originally it was put my mom and I's name. And then I. I refinanced it, and I got a lower payment and a lower interest rate, but a longer term. And then now it's just in my name. But I didn't want to get the car. I didn't want to.

[A]

Yeah. I think we need to just separate you from your finance, from your parents.

[B]

I know, and we're working on it. Like, my dad has access to, like, a bunch of my accounts, but do.

[A]

You have access to your accounts?

[B]

Yes.

[A]

Then change your logins yesterday. I don't.

[B]

He already has it. Like. Like, he has the cards and things, like, attached to others.

[A]

Yeah. Just say you lost the card.

[B]

I never thought of that.

[A]

Okay, that's fine. I don't know how, but that's fine. It's just. Okay. Sure.

[B]

And also, my parents pay for my car.

[A]

They pay this bill?

[B]

Yes.

[A]

Oh, well, that's different. I mean, it's still risky in your situation. Cause it's a big balance. Okay.

[B]

Yeah.

[A]

Cause in the car, the balance is $18,838.92. What is the car?

[B]

2020 Jeep Renegade.

[A]

And what is the term? This extended term?

[B]

I have no idea.

[A]

So you said it's a longer term. You just don't know it.

[B]

No, because I didn't do the refinancing.

[A]

Who did?

[B]

My dad.

[A]

But with your credit?

[B]

Yep. I originally didn't want to refinance it.

[A]

I won. You know, there's a ca. You don't want to go down the legal things, but there's. There's a credit fraud potential here and some of these different things, but, I mean, it would kind of potentially put your family in destruction mode, and, you know, that's kind of up to you in terms of what makes sense there, but.

[B]

Oh, I want to try to take care of it.

[A]

How do you not Know anything about this.

[B]

Okay, I, I do, I do, I do, I do. I shook my head, but I do because I looked at my credit karma report and I think it's around like seven. Seven something. Okay, seven or six something.

[A]

Not fantastic, but. What's the minimum payment?

[B]

3 97.

[A]

I just don't know how you could afford that if they decide to stop paying it and they could, it's under your name. 100. It's not their responsibility.

[B]

I think they want me to.

[A]

What do you mean you think? Has this been a conversation?

[B]

They've mentioned it a couple times.

[A]

What does that mean?

[B]

Like they're passing, like yeah, like they'll make a little quick joke or like when it's time to pay them, like oh, you know, you should start paying for this next year. Or oh, you know, funny joke. They'll ask me like, you know, for help sometimes to finish the payment cuz.

[A]

They don't have enough money sometimes. Keep wiping that. What's happening?

[B]

I just feel so sweaty.

[A]

Okay, you're good. You know, we've been through 1, 2, 3, 4 debts. But you mentioned at the beginning, I asked what's going on here? He said he's opened a bunch of debt in my name. Credit 1. He may have opened that. The card. They may have kind of pushed you into that. But even still. No, even still, this isn't. Oh, this. That's not lining up so far.

[B]

There's only, There's. I. There's only one debt that he accrued.

[A]

You said three.

[B]

I said he opened it, but I said there's one that.

[A]

So what, what, what's the status of the other two?

[B]

They're like. They're mine aside from when I helped.

[A]

So he opened them but you took them?

[B]

He like.

[A]

But you manage them?

[B]

Yeah.

[A]

Bank of America.

[B]

Yep.

[A]

Is this one up?

[B]

This is one what?

[A]

The one he racked up. No, I really want to see the one he racked up. $2,169.47. The minimum payment of $74. Gosh. Basically at the credit limit. No surprise. 14 years to pay off. Okay, again, it doesn't. You. You kill me. You kill me. You made more than the minimum payment, but then you went and purchased on it anyway. And then $53.24 is a good. Every single card we've looked at, you've purchased on. So I don't understand what your intent is in finance, in life. What are your goals are not aligning with your actions by any. Any mean possible. Any means.

[B]

I honestly don't. I'VE never. Finances for me has always been in the back. Just because I've been focused on other things. Like what? Like when I was in school I got so good money from school because I would get a stipend because I was on. Because essentially my California insurance didn't work in Idaho. So I had to pay out of pocket for their student insurance which was like a grand a month.

[A]

Health insurance?

[B]

Yeah.

[A]

Why aren't you on your parents?

[B]

I was, but they wouldn't accept it at the school.

[A]

Hold on. At the school?

[B]

Yeah.

[A]

So the school medical.

[B]

Yeah.

[A]

They will go off campus.

[B]

No, like it's like you have to have proof of insurance to be a student. Like you have to have insurance.

[A]

I could see it. But why aren't they.

[B]

They. So the insurance. The reason they didn't accept it was because it didn't cover out of state non emergent things. It only covered emergencies.

[A]

Oh, so they didn't accept the. But they recognized that as existed. It just wasn't the coverage.

[B]

Yes. Yes. And so they. They declined it. And then I had to get the student health insurance and that was like $1,000.

[A]

One thousand what?

[B]

Dollars a semester.

[A]

You borrowed for it? Scholarship didn't pay for it?

[B]

No.

[A]

Okay. Okay. The bank of America Electric and Electric. What? Electro. Wait. B A. Oh, that's your payment. Sorry. Oh, Amazon. It was an Amazon order. Great. Another 429 fees. We've had fees this year. $95 of fees. It's either missed payments, late payments or over the credit limit multiple times. Probably three times for something this year I. Maybe two.

[B]

I think it was to do even.

[A]

Know two late payments. How long have you been in this job that you're in right now? I'm glad you got something, April. Why have you accepted it for so long? Working like a half an hour a week.

[B]

So it wasn't always this way. Originally I worked for three different agencies, but I wasn't getting.

[A]

Why'd you stay hours?

[B]

So I left. So I did leave. And then I picked up this client and I. I really like like them or like them.

[A]

Why they're not giving you money. The only reason to have the job. Well, job purpose. But I'm glad you got the purpose part. But you also need to be able to pay bills and live a life.

[B]

I've been probably too focused on the purpose because I did.

[A]

Purpose? You're never even there.

[B]

I know, but I did have another job before that paid better and I had better hours. But then I quit it to take time to study for the mcat.

[A]

Which I'm not necessarily opposed. It's his. But you've been in this job for so long. Okay.

[B]

And I. I was worried because I got really, really burnt out.

[A]

You kidding me? This next one also has purchases. That is five credit cards in a row. I. The credit limit is 2,000. You're at 1,974. Yeah. Congratulations. Guess what? You spent. You paid off more than the minimum payment. Doesn't matter. Whatever difference you made, the almost hundred dollars of purchases are completely negating it. $72. A minimum payment on this. So we had some parking gas, I think. But then caregiver background.

[B]

Yeah. I have to renew my registration with.

[A]

Why on a credit card?

[B]

I never have the cash because I. I've just been putting all my money towards.

[A]

Okay, sorry, sorry. We already went through this. I'm sorry. I'm irritated.

[B]

I know.

[A]

I want to process this so I don't just blow up. It's the fact you. You're putting more than double on all these damn cards. Which. Great. But then it makes it so you don't have any money. So then you just negate all parkers by putting the money right back on the cards. And then the interest is going to. Then you have fees are growing on some different parts throughout the year. So why even put the extra money towards the cards? Why even put extra money towards the cards? Because you just put the balances all the way back up. It doesn't even make any sense to wait and do that. Why even do that? Have the money in account. Spend it. Whatever is left in a budget. We put towards the card. One card at a time too. Not bow. All right. So I just. I don't get the method you're going about this.

[B]

I don't either. I felt very, very lost and that. Yeah, I. I just haven't. I. It's so. It feels so overwhelming and I. I don't. I don't know. It's like I woke up one day and then bloom. It just came. It just showed up.

[A]

Obviously that's not.

[B]

I know that's not how it happened, but that's what it felt like when I was. When I started caring.

[A]

Okay. When did you start caring?

[B]

When I started watching your videos.

[A]

Only a month ago.

[B]

Yep.

[A]

What have you done in a month?

[B]

Canceled a bunch of my subscriptions.

[A]

Okay.

[B]

Make lots easy of sandwiches.

[A]

It's stopping and getting the food.

[B]

I've been making lots of sandwiches.

[A]

Really? No McNugs.

[B]

No McNugs.

[A]

Okay.

[B]

But I. I still am doing what is wrong in that I just. I don't have any cash. Like, I just keep. I just put it.

[A]

That's not being reflected in these statements. And we haven't even gotten your spending statement. And this spending shows the month that you started to care. So that just. I, I. It feels like you're bullshitting me.

[B]

I'm not.

[A]

But. But the numbers don't lie. We have your most recent statements outside, so. What are you talking about? Maybe it's more of a feeling to you instead of you. Instead of the objective truth.

[B]

It's a feeling. It's a feeling.

[A]

You feel like you're trying to.

[B]

Maybe you feel like I'm trying.

[A]

5%.

[B]

I feel like I'm trying. I. I do feel like I'm trying.

[A]

We're going to get to the spending statement. I already told you what percentage went to. It was a crazy percentage. And of course you spent more than you made. So wherever the train is, it's not really. Okay. 32.24% interest. So that's kind of tied with the bad one, right?

[B]

I.

[A]

They're all bad. To be clear, but green sky is this one. Is this the pops?

[B]

Yes.

[A]

Okay, I recognize green sky. Yes. Whoa. What is it? It's 12,681.

[B]

They redid the yard in your name? Yes.

[A]

Oh, what did they even do?

[B]

It's all turf now.

[A]

You better roll around and it get its money worth.

[B]

They really like it because it's easier to clean up the dog poop now.

[A]

Yeah. Yeah.

[B]

But I. I should have asked more questions about. I. And I should have asked more questions. I did not understand what I was doing when they. Because they talked to me about it. They did.

[A]

Wait, they talked you out of this? So he didn't open it without, you know.

[B]

No, he talked me. He talked to me about it. Okay, so he asked.

[A]

Kind of at the beginning. Kind of at the beginning, you kind of led me astray. You made it sound like he was just taking out debt in your name. But these. They may manipulate it into it. I'm not saying that's okay. No, but you made it sound much different. You made it sound like he was just taking out debt in your name, like credit fraud. But they've convinced you to do this.

[B]

Aside from one card.

[A]

Gross. Get away from them. They might not know what they're doing is evil and horrendous and bad and disgusting, but their ignorance isn't an excuse in terms of you having to put up for it with it. So you need to get away from these people being able to convince You.

[B]

The re. The rest of it is on me. It is on me. Aside from one card.

[A]

Substantial. On. How did they convince you and how did you accept it?

[B]

They asked me to co sign on the loan.

[A]

Oh, you're co signed. Okay.

[B]

But I'm, I, I don't know who with. I don't think it's my dad.

[A]

Okay.

[B]

Maybe my mom. I don't know. He didn't know that it was going to go onto my credit.

[A]

Are they paying for it?

[B]

Yes.

[A]

Okay. Okay.

[B]

But it's really, it's just, it's just the one card that.

[A]

But you said they had a conversation with you.

[B]

Yes.

[A]

What was the reasoning that got you over the line to be like, okay?

[B]

I didn't know what it meant. Like I thought.

[A]

Then why did you say okay?

[B]

Because I. I thought okay in my head. So they basically don't have the best credit either.

[A]

What?

[B]

And, oh, sure, at that time I had pretty decent credit. I think. I wasn't watching my credit then.

[A]

Credit's about 650, I think.

[B]

Yeah. And then right now. Yeah. And then they came to me and, you know, they wanted to redo the yard, whichever. And then they asked me to co sign on the loan to do it because their credit wasn't enough. And I, I did not understand what co sign meant. And in my head I thought that co signing was like, kind of like vouching, you know, like, oh, hey, in.

[A]

The credit world it kind of is, but it still puts you responsible. I want to give you free money right now. I've partnered with different resources that will literally give you hundreds of dollars the moment you sign up for them. Check out my investing app of choice, Moomoo, where they give you up to 15 free stocks and 8.1% interest on your uninvested cash when you sign up with my link. Do you want a more traditional savings account? Check out where I keep my emergency fund, SoFi, where they'll give you 4.5% on your money and up to $300. Would you rather have automated investing? Sign up for ACORNS with my link and you'll get $20 right now instead of the usual $5 you'd get from your friend's referral. You can also sign up for our investing program and get $100 in cash deposited into your Moomoo account. This is the best way to learn what your investing profile looks like and what investing strategies to use based on that. All of this for free money is linked in the resources section of the description below. So don't Pass up the free money because I'll punch you.

[B]

Yeah. And. And I didn't know that. And it sounds like he didn't know it either.

[A]

Your parents didn't know it?

[B]

No.

[A]

Why'd you really make it sound so victimy at the beginning, then when this. A lot of this were your decisions more than you suggested?

[B]

I kind of. I didn't mean to. It's really just the one card that was his.

[A]

What the. Who the are these people?

[B]

It's like an.

[A]

What am I looking at?

[B]

It's like anime. Oh, like Game of Thrones.

[A]

Classic anime Game of Thrones. Yeah, sure. Okay. Keep going.

[B]

But.

[A]

Okay, this is, I don't know, $189 minimum payment. I get that they're taking care of this and the car, but, I mean, they go. The crash, they die. I hope that doesn't happen.

[B]

Yep.

[A]

Cause by the sounds of it, you're probably not getting any money from them. Maybe some life insurance. We'll see, but who knows? No.

[B]

Sometimes. But I won't ask for it.

[A]

Sometimes what?

[B]

Sometimes they'll give me money.

[A]

Oh. What. Okay. And how does this. How does your guys's money relationship work?

[B]

It's really. It's not good.

[A]

Not separate from the. Them as a daughter. Separate from them as finances, finance. But that means you moving out. But I don't know how we're going to do that with the school thing unless you get accepted into that program that you're trying to do. Okay, so again, $12,681.68 at a 7% interest rate, rounded up by.01% and $189 mony payment. All for some turf. I've been thinking of getting some turf.

[B]

It's really great because I got two.

[A]

Dogs and it'd be muddy.

[B]

Oh, it helps. It helps a lot with the cleanup.

[A]

Okay, student loan. How many semesters were you there? Ten semesters. Five years.

[B]

No, four years.

[A]

Okay. You borrowed more money than you suggested.

[B]

If it was 1000 hours a semester I borrowed. I didn't suggest that. I was only borrowing a thousand. I said I borrowed for that. And then it was just more. I. I didn't. I didn't know. I just. You know, they filled out the fafsa. I saw who.

[A]

They filled out the fast.

[B]

Like my parents.

[A]

Oh, we're back to that. Okay.

[B]

And then. My gosh, I thought that was some. I thought that's what parents did.

[A]

I didn't know they could help you. But these aren't parent plus loans. No, these are yours.

[B]

And so I I had no idea. And then basically I. How it showed up to me was in my student account and it was just like, oh, you have this amount of money to take. Do you wanna.

[A]

Huh?

[B]

Yeah. Yeah. What did you just say it like asked? It said, okay, you have this amount of money available that you got approved for. Do you wanna take it?

[A]

Oh, do you wanna?

[B]

Yeah.

[A]

Oh my gosh. Okay. That came out as one word. Okay. 5% on one of them, 4.5% on the other, 2.7% on the lowest. $10,133.82. You paying?

[B]

Yes.

[A]

What's your payment like?

[B]

80 bucks?

[A]

I would have guessed about 150. You're on an income based payment thing?

[B]

I have no idea. I just go online and it gives me the. The amount to pay.

[A]

I don't see on this because I don't think this is a literal statement or else it would have showed your payment. Great. Okay. All right. Okay. Any other debt?

[B]

No.

[A]

Any other debt?

[B]

No.

[A]

You owe money to your aunt?

[B]

Oh, yes, yes. Sorry.

[A]

How do you.

[B]

I thought like statements.

[A]

Okay. Why do you owe your aunt money? How much money do you owe your aunt?

[B]

2,670 something dollars.

[A]

70 something. Okay. Why then? Since when?

[B]

That was the car that got racked up by my dad. And then when he went to visit her, she was like, well, I'll just pay it if it's a problem.

[A]

But you owe it to her?

[B]

Yes.

[A]

So I guess there's not interest, right?

[B]

No.

[A]

Okay. So we saved ourselves there and potentially a minimum payment. But in the end, you still have the debt. You refinance it to 0% with a questionable payment. Do you have like a payment agreement?

[B]

Like about 500 every month? I get help from my dad though.

[A]

Huh.

[B]

Oh, since he was the one that.

[A]

How much does your dad put towards that? 500. 500? That's.

[B]

He puts like a majority, like normally.

[A]

Okay, give me a number so I can budget you. So you still have to pay a hundred. He better. Yeah. What the does that dude do for a living?

[B]

He's retired now.

[A]

There was a card we had a statement for, but she said paid it off fully, so we didn't print the statement. Is that what it was?

[B]

Yes.

[A]

Had a doordash order on it. Was that him or you?

[B]

Nope. No, no, no.

[A]

Does he have access to it? Did you close it? Close it. It's your. It's your thing. Just close it. Or request a new card. I don't care. And honestly, you shouldn't have access to credit cards. Because you don't know how to manage them to save your life.

[B]

Yes, access has been removed.

[A]

You said he was an attorney.

[B]

Yes, he was.

[A]

Now he's dead be dead.

[B]

I don't.

[A]

What. What's his new job?

[B]

He's retired.

[A]

How old is he?

[B]

He is 65.

[A]

Okay.

[B]

No, no, not 65. He was born in 65, so like almost 60 59.

[A]

If he was retired, why is he going into debt on someone else's name?

[B]

He didn't retire on his own. He. It was for medical reasons.

[A]

Okay. And he didn't have anybody saved. There was no medical anything that he got.

[B]

He gets a little disability, but not much.

[A]

Social Security. What is that?

[B]

Maybe.

[A]

Or has he not started to accept Social Security yet?

[B]

I. I don't know. I don't know about his business.

[A]

Great. He only uses your money, so I'm glad you don't know. Okay. $10 in this checking account. Some marketplace you went to. Oh my, here we go. Spotify. You can listen to ads. You can't afford bills. I don't give a listen. Ads. ATM withdraw for gardening. $23 Starbucks. Apple bill. Gwynne as I got some BS. Apple bill. What are these? 29 cent Apple charges.

[B]

It was.

[A]

What are you getting?

[B]

Tick tock.

[A]

Huh? For 29 cents.

[B]

What like the little. You know you can send who to who to?

[A]

Why it better not be. That popcorn's so good, girl.

[B]

No. Who like streamers? Like COD streamers on Tik Tok?

[A]

Streaming con on Tik Tok.

[B]

A bunch of people can't even like.

[A]

See the full screen. It's on Tik Tok. Well, or you can. Can you go horse animal?

[B]

Yeah, some. You can.

[A]

Stop. You don't have money. Okay, $8 tip there maybe. I don't know. Communal coffee. Starbucks knockout Danish and donuts. Better buzz. You guys see what's happening? This is someone who' back better buzz. Starbucks. Terry coffee. More Apple bill. Probably Super. And you're. It sounds like you're going on dates every five seconds of your life to pay for food. So you're probably getting super likes and super swipes. No Apple bill.

[B]

No, I'm not getting super likes or super swipes. And I'm not dating anymore. I deleted everything. And I never. I would never.

[A]

Wallet.

[B]

Good for a subscription for a dating app.

[A]

Yeah, it's usually the men that have to do that. Apple bill. Were the customers. Uber eats getting your MCFR? Oh, we actually did. Cuz then we went to McDonald's and you went and got some ATM withdraw. 35$33.50 for gardening Apple Cash sent out. 70 bucks.

[B]

I. I had gotten. That came back. I had gotten into a fight with my dad.

[A]

Another one?

[B]

Yeah.

[A]

Oh, good.

[B]

And he. He was getting my car washed for me as like a treat. And then so I got mad cause he was like, using it against me, and I tried to send it back.

[A]

Oh, my gosh. Why does everyone use everything against you? Apparently if a guy buys a dinner on a Going on a date, you know, they're. They use it against you for intercourse. If your dad gets a car wash, he uses it against you. Why does everyone use everything against you?

[B]

He did, but he sent me the.

[A]

Money back so he can no longer use it against. Okay. UCI some admission.

[B]

That was a med school application.

[A]

Cool, cool, cool, cool. Glad you got into a med school. I am.

[B]

And I'm waiting.

[A]

I know that's hard to get in.

[B]

So I'm waiting to hear back from a couple more too.

[A]

Well, do you have a preferred.

[B]

No, not.

[A]

Yeah, I was gonna say med school's med school, man.

[B]

I just need to get in. I got into one, so I already.

[A]

Oh. ATM withdraw, ATM withdraw. ATM withdraw, ATM withdrawal. All for gardening. Great. Yeah, I probably can't afford this. Bull, dude. Not for a single second of our life can we afford this at this point. Because you've said so many times throughout this conversation. And yeah, I didn't have money, so it was put on a credit card. Did you just see the checking account statement we went in? It was spending, spending, spending, spending, spending, spending, spending, spending on bullshit across the board.

[B]

I will say.

[A]

Will you?

[B]

Yes, I will. That statement was July and beginning of August. And I told you that I've been trying to make changes since mid August.

[A]

This went to mid August.

[B]

It went to, like, the 12th. I'm talking, like, also known as mid August, the 14th. I remember the exact date.

[A]

Shut up.

[B]

I swear. I swear.

[A]

Great. I'm glad that you, just like everyone else, changed habits as you conveniently applied to be on a show where your finances are. That's what happens. And then people go off and then they cops though. Unless you actually take a real change and not just a temporary. I want to make sure I look good in front of the Internet.

[B]

Yes.

[A]

Okay, so I don't want to hear it. $251 in your investment account. Okay, so nothing. What are we trying to do here?

[B]

I want to get out of debt and be smart about.

[A]

Why do you want to get out of debt?

[B]

Because I want to be able to go into medical school in the right.

[A]

Way are we going to do that? Are we getting out of debt before we go to medical school? School. That's the $4,000. 364.

[B]

At least my credit cards. At least my credit cards. Because at least with the green sky, you know, my parents cover that. And.

[A]

Okay, so half. And then probably like 25,000 hours of credit cards.

[B]

I think it's a little bit less, I think, right now.

[A]

Oh, sorry. I was calculating student loans.

[B]

Yeah. And I. And yeah. And so I think it's around, like, $12,000 in credit card debt right now.

[A]

When do you hear about this program and how competitive is it. It. This military thing?

[B]

When I submit my application. That's what I'm working on right now. So it's a lot of paperwork. When I submit it, it goes like before a group of people. And then I. He said I should find out within the month of submitting.

[A]

What's it called?

[B]

The. For the army, because I think the Navy and the Air Force have one, too. But I'm doing it through the Army.

[A]

Let's find out.

[B]

He said I have a good shot. I. I'm not going into it. Banking on.

[A]

Disclosed. Typically offers around 300 scholarships per year. How many apply? What was your MCAT score?

[B]

503.

[A]

Okay, well, we barely made it.

[B]

Yep.

[A]

Because you need 500.

[B]

Yep.

[A]

What's your GPA?

[B]

3.94.

[A]

Barely made that cut off, too. You're a little better there. It's 3.2.

[B]

That's like 0.7. That's not barely cutting it.

[A]

All right, calm down.

[B]

I only got two Bs in college.

[A]

Yeah, you're right. No, but. Yeah, with the MCAT. Yeah. Okay. They offer 300. No, you're right about the GPA, but.

[B]

And the rest of my application is competitive, aside from.

[A]

My gosh. They don't say how many people apply applies. It's not. It's not public information.

[B]

No.

[A]

And neither is the acceptance rate.

[B]

No.

[A]

The program is very competitive. It says, though.

[B]

Yes.

[A]

And I mean, 300 and I. In a country of like, 350 million people. Gosh. So we can't rely on this. No, obviously. We hope you get it.

[B]

Of course.

[A]

Absolutely.

[B]

I'm not relying on it.

[A]

Gosh. Usually I can, like. I wish I could do something like letter recommendation. Not that they would care about me. I'd gift you a course career certification, which I recommend for really anyone. But that, again, that doesn't help you here. It helps most people on the show.

[B]

I did get two more jobs. I'm gonna.

[A]

I know I'm just trying to think of. Yeah, I know, but even medical school's crazy. Like you're gonna be borrowing what, like 250 to $500,000. So it's just like, yeah, we can pick up some jobs, but that's some money. Like we need some real good jobs working full time to pay for that.

[B]

I mean it's going to have to be a loan or scholarship.

[A]

Okay. Yeah, but you're white, so you can't get scholarships.

[B]

You said there's like a few that I have looked into applying and maybe I should. But it's only like a few grand, you know, in the grand scheme of things versus $250,000, it's not the greatest. Like I think there's some athlete scholarships I could apply for for medicals, for like ncaa. Like you can get scholarships. Yeah, for like graduate programs. At least I know one person got it.

[A]

If you're playing the I'm white card. So I'm not going to get a scholarship. At least you're a woman.

[B]

I know, right.

[A]

Because if you're gonna play that card, then probably you could go to the extreme and say if you're a white man, you're the least likely.

[B]

So that's true.

[A]

It playing your logic.

[B]

That's. No, that's. I kind of thought about that. I did almost become a white students.

[A]

Receive 70% of scholarship.

[B]

Really?

[A]

Wow.

[B]

For what though?

[A]

For a full tuition scholarships.

[B]

But for my. Okay, I will say my income middle class is the harsh against me.

[A]

Sure.

[B]

And I, I kind of listen, I'm.

[A]

Not fighting against it. I'm, I'm not educated on the statistics around scholarships. So when you throw that at me, I'm just playing into your own logic. Like I, I don't know. So that's. It's not worth going down a rabbit hole here. Yeah. I'm sure there's going to be more people with opinions in the comment section. It's totally okay. I just, I'm legitimately just not informed on that. I just, I really hope you can get in this program. I'm just trying to think. I'm. Okay. Some people are completely against student loans and all thing. I think if we're focused, if we get a good specialty in medical that we know we're going to be making a good return on our investment. You can take out student loans. We just need to talk about a debt repayment strategy on the other side of it. So I am okay with that. Yeah, we can go about it in a smart way. If you go out and you just barely make your minimums and you just start living a high lifestyle after medical school. Or you go in and you're like a, you know, general practitioner. You're not making as much, you know, it's just like. Which also, that's not necessarily bad. But if you take out a ton of student loans, it makes it much.

[B]

It's harder. Yeah.

[A]

So there's ways to go about it. Okay, so obviously we want to make you a budget.

[B]

Yes.

[A]

Put you through all the education. But when do you want to go to medical school though?

[B]

Because it's next year.

[A]

So.

[B]

So July, August.

[A]

So we have barely less than a year to get out of credit card debt.

[B]

That's why.

[A]

So that's our goal here. Yes, that's a good goal. I'm glad you actually have a goal. Most people don't have a goal. This is actually pleasant to hear. Yes, thank you. Income, can we say, do you know what it will be like? I don't. What's your income going to be?

[B]

So I'm, I'm working seven days a week. I'm working four hours each day at $20 an hour with that person through my agency. Then I'm going to be working at a juice bar for an additional four hours after that part time. So that will also be 20 hours, 28 hours for the agency. And that will be with.

[A]

What will your income be?

[B]

Oh, I don't know. Like I. I'm hoping to get to at least over two grand. Two grand? Yep.

[A]

After all that, we're only talking 2,000 hours a month.

[B]

I haven't looked into it. I haven't done the number calculation.

[A]

I'm not going to put an income. Let's see what you just need. How about that? Let's start there. I'm not going to include the bills that your parents pay for for the debts, but they could come and you over. So just acknowledge that existence. Yes, actually, I'll show you an IF and or but 660 without them or your bills. But for some reason they stop paying. Well on the yard, the car, they want you to take it over. So let's add the yard and the car. Then you're at 1246amonth, you know, over doubling it. Okay. Do you have to pay for utilities or anything? Any kind of rent to them? Okay. How does, how does food work at the house?

[B]

Me, I am responsible for my food.

[A]

You are. Okay, 300. Follow our meal plan, tweak it to your needs.

[B]

I did have a question about that.

[A]

Oh, sure.

[B]

What would be Most comparable to H.

[A]

E B. I don't live there. But just.

[B]

Or even in big chains, you know like Walmart, like and I think Winco, maybe.

[A]

Trader Joe's can be okay.

[B]

That's pretty pricey.

[A]

It is. It can be okay. It's really dependent on what you're getting. But again, it's just like go on the website.

[B]

Okay. Okay.

[A]

See if you can price out things on the websites. Because that's how we did our meal plan is using website prices and then building out. You go and you get that brand specifically. TP fun. This is for all the things you else need to survive. Make up all the goodies. Okay. So good car insurance, do you pay it? Your parents.

[B]

Parents.

[A]

Okay. So again this victim thing at the beginning, like it gets less and less and less empathy.

[B]

Yeah.

[A]

As we go on.

[B]

I, I'm very grateful. That's why. Really? No.

[A]

Gas.

[B]

Me.

[A]

How much?

[B]

About 150amonth.

[A]

Okay. And Jim, no, got to be working off them. McD's, McDonald's, McNugs. Anything else that needs to be in your budget? I'm not putting subscriptions.

[B]

They have a pet, my dog.

[A]

How much for pet food?

[B]

Probably like 50 bucks.

[A]

Okay. Do you have pet insurance?

[B]

No.

[A]

Should it just save me literally thousands like two weeks ago?

[B]

You know, I think I did actually talk to my mom about it and she said that talking to them about money, well, she gets vet insurance through her work, so. But she just hasn't been using it. So I told her after watching your.

[A]

Show, well, I'll put 35 in your budget just in case. Let's see what you need to survive. Is there anything else that needs to be in your budget that we've not accounted for yet?

[B]

No.

[A]

Obviously you'll build a more detailed version after going through the program, but this is going to give us just a high. Okay. 1235amonth. Okay. That's not hard to get. But what's hard is we need to get your credit cards taken care of, right?

[B]

Yes.

[A]

That's the big thing here. So we got the capital. 1-5309 plus credit. 1:1580. Your aunt plus mar. Yeah, but your dad's helping.

[B]

Big majority.

[A]

Marriott's 1946.

[B]

My aunt watches your show.

[A]

Hello Ant. Make sure you smash that like button ant of Maya. Is she going to watch the post show? Cuz that's where we get a bit more wild and I don't know if.

[B]

She has the Patreon or the membership. This will be my first post show.

[A]

It's fun Yeah, I wouldn't want you to subscribe. No. Okay, so just a credit card is 12,780 with the money you have left. If you say okay, well, no, no, no, no. You have 11 months to pay it off. So what do we need for that? We need. And this is without taking any interest in account, but it's also without taking any snowball in account either. So $1156, let's call that. That's what you need to pay towards that on a monthly basis to pay it off by the time medical school starts. I mean, we can do it.

[B]

I can do it. I. I know I can do it.

[A]

Yeah. But. But to be clear, in order to do it, you need. Wait. Oops, sorry. You need to bring in minimum into your account. $2,391 on a monthly basis. That's your literal minimum. Yeah, literal minimum. Only put the money towards the smallest debt.

[B]

Yeah.

[A]

Nothing extra. Minimum payments and everything else. Then just keep rolling it over into the next smallest one. Don't look at interest. Just snowball works best for you, I think. Okay. Not moving out until we go to college because I would add more. Another line item, but again, that might make it even harder because. Because you and your family, it's questionable. Okay. And it also means you're literally not spending a single cent outside of our budget, which is hard. So what I might do is aim to bring in $2,500 on a monthly basis. Okay. But you're not. And you haven't. And you still aren't. Even with your multiple.

[B]

I'm. I'm going to. I'm biting the bullet now. I'm biting the bullet because I'm biting the bullet. I will be ma. The one that's 32 hours a week. It's will be 12 hour shifts. So I will at least get like a little bit more for the extra four hours on top because it will be at a hospital. And then I know it won't be that much, but tips from the little juice bar job too.

[A]

Sure. So what I want to see is I want to see you right back in that chair. Or virtual, but preferably right back in that chair in 11 months right before you go off to med school. And I want to see every credit card paid off. Okay. Now what I would actually prefer is again, you know, make it a little more and headed off to med school with a at least like $3,000 saved up for a small emergency fund. I would rather more, but, you know, we have limited time here. But that's What I want to do. And then the only your aunt would be paid off by then. Naturally. If your dad doesn't up as he's done the yard, then the car. Scary. And all of a sudden we have to start budgeting again. This whole situation gets thrown off. By the way. If your parents start requiring you to pay for the car within the next year, then you're just gonna have to go find an extra 397 minimum.

[B]

Yeah.

[A]

And probably car insurance too. If they're gonna make you pay the car payment, they might make you pay the car insurance. So there's a lot of if, ands or buts here.

[B]

Yeah.

[A]

And then the student loans will worry about that. After school they'll enter deferment.

[B]

I do have like a small plan. I know it will be really challenging.

[A]

What's your plan?

[B]

If. If I have more expenses in medical school since I will be carrying my CNA license to just kind of do what I've been doing, even though it's bad. But do it in med school. Like working with an agency.

[A]

Very difficult to work all in med school. Med school, law school, very hard to work.

[B]

Well, no, I, I 100 correctly. Yes.

[A]

And then once you're in residency, you still will be making like.

[B]

Oh yeah, I know.

[A]

So this is a long term game here. But you could live an absolutely incredible life. You really could.

[B]

I mean, I'm in it for the long game. I just. I.

[A]

Then you then for the short game. Sacrifice.

[B]

Yes.

[A]

If you're really in it for the long game, focus on the short game, which is big sacrifice right now.

[B]

Yeah.

[A]

And I hammer score. Then we'll bring in the producers, do the post show, talk about some extra drama we haven't had here. We always love doing that. You guys can join that link in the description below. We have a lot of extra shows and stuff. It's pretty fun. But spending in a budget, you overspent it. So 0 out of 10 debt, it's a weird situation for family. No collection for your whole situation. I know. So it's not a zero, but it's a one out of ten. It's pretty much as bad as you and your situation can get without the collections or IRS. That 1 out of 10 emergency fund. 0 out of 10. There was nothing. Right. Retirement, you barely started. So I'll give you a 1 out of 10. Real estate. Nothing in zero time. We only rhymed up. Unless I hate someone and I don't hate you. So. Amber, financial score. 0.5 out of 10. Make sure to join us in the Post show link in the description below and check out our investing and budgeting program which are the best on the entire Internet bundled together at a 15% discount. See you all in the Post Show. Today on the Financial Audit Post Show.

[B]

My last guy that I dated, I swear to God he was an npc.

[A]

What?

[B]

When you held his hand, he had to have his thumb on top and he would get genuinely pissed off. He would never let me pay ever.

[A]

That's so he could get.

[B]

And then he would complain about the fact that I didn't pay for anything.

[A]

I was just joking, but never mind.

[B]

I guess it's no, it's exactly what happens outside of the restaurant. He wants to do it in the back of his car right there.

[A]

All right, People need to have a little bit of patience.

[B]

It's crazy out there.

[A]

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