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Hey Hammer team- I purchased the course last week and still haven’t heard anything on the Moomoo credits. I reached out by email twice but haven’t heard anything back.
@@CalebHammerI did! Although I just got an email talking about the vouchers coming out this week so I may have jumped the gun. It did say in order to get the voucher I have to also input $100 which I never heard throughout buying the course. Might be a good thing to put out because I totally thought $100 would just get dropped into the MooMoo account, but now I have to drop another $100 to even redeem that. Thanks for the response!
My husband sold his hot rod that he built because we needed money and not a hot rod. The crazy part is i was the one hesitant & his response was “my family is more important than a vehicle”
I get you girl!! I can't imagine being stuck with one of these losers, my husband busts his ass so I can stay home with our babies, he saves, we budget, he is just such a blessing and peace I cannot imagine being in one of these dead end relationships
It was so frustrating to me how on one of the cards Caleb literally asked if the debt was moved with a consolidation loan and she said no, then later she admitted that it was
Exactly, I think they struggle to comprehend how crippling the high interest rate of a personal loan or credit card loan is. You end up treading water while your payments just rise or stay the same
Paying off one debt with a new higher intest debt is what's called death spiral financing (fun fact, the US government has been doing this for a while now...).
The irony is some people have a fire under their ass when they get kids and get their stuff together. But some people don’t. I don’t have faith they would
Ramsey hits this on the head with the saying “wealthy people look at the cost and poor people look at the monthly payment”. This couple is the prime example of people making more margin while increasing interest. Just dumb.
The speed of the honeymoon phase is segwaying really nicely into divorce papers phase. Only few minutes in but seems to me, theyre flooring it. Pedal to the metal
They'll have everything taken care of for them from the hard working tax payers while they have kids and continue to make awful decisions and blame the everyone else for their stupid decision. Especially her husband who made a massive purchase on property without even talking to his wife. Their marriage is destined to fail
I wouldn’t say, “had no business”. Those things were the least of their problems. They decided to get together and not communicate about ANYTHING it seems. That’s what was crazy to me
That's not a coping smile. That's is the "it is nice there is another person who can tell my husband that he need to get his finances together. And I can't say anything because then we will get into another fight" smile
The husband is not going to take any of Caleb's advice & she is going to keep enabling him. They're going to wind up bankrupt & divorced within 5 years.
@@Somebodyelse141 she has many wants and does not think about what she is signing up for before she does it. She can easily blame him for making the decision, but she enables him by being ignorant. He is the problem but agrees with him way to much
Buying a video game console without talking about it is a disaster (been there, done that and got the cheap Crash Bandicoot t-shirt). Buying property ends in ashes I imagine.
@@shadowfox2120I just think they’re not super familiar and Caleb is speaking with an assumption of background knowledge. Going back to fundamentals and how they’re impacted (interest rates, minimum monthly payments, business loans etc) need to be broken down a bit more for them. They clearly have bad information to start with and need to start back from zero.
He doesn’t care and she’s stubborn and won’t admit any changes are needed. He thinks a Home Depot card proves he’s a man and she thinks pouting and saying “it’s fine” is cute and will make people stop bothering her.”
That 'lapses in memory' and reluctance to answer questions like what happened to the money from selling the business equipment is ringing alarms in my head that something isn't right
I’m late to the game here but a part of me thinks the business thing is bullshit. Something about it being too busy and also not making ANY money off of it. She couldn’t answer how much it was, how much she made, and how much she sold it for. I think she has a not-so-acceptable side hustle (OF?) and concocted the business as an ill thought out lie.
That dude 100% took that washer dryer $$ and spent it on something for himself then bought the washer dryer on credit hoping she wouldnt notice. He super sketchy.
SUUUUPER sketchy! She’s a bit dense and terrible at math, but at least she wants to do better. Her husband is going to argue to the bitter end that keeping a broken motorcycle, side hustling water slides, and playing credit card roulette is “the path” forward. Money is always going to burn a hole in his pocket.
@@catcat2607 She HAS been helping to pay it down, and besides, in Texas, it doesn't matter that her name isn't on the deed. Community property laws will guarantee that she's on the hook for the debt same as him if they split up. She's doomed to go down with the ship he's speed-running to the bottom.
“I don’t like renting because someone else is getting that money and we don’t own anything in the end.” *uses a 30% APR credit card to build a house* 💀💀💀
Yes, duh, it makes perfect sense. Once they sell the house for a loss, his words, and pay off the debt of 3x the APR of a normal mortgage they are going to come out ahead by $-7000 but at least they got to say the house was theirs.
Funny how ppl use this analogy to buy a house, but won't use the same concept when they go our to eat, or on vacation, or anything and everything spending money you. You are basically paying someone's mortgage.
10:04 For anyone confused on what kind of home they have, they likely have a mobile/ manufactured home. They are preassembled homes that you can transport to a location and build a “skirt” around the base of the home/undercarriage with bricks,wood panels, or other material.
Him saying “we want to refinance the house to cut our monthly payment down” but also said “we want to cut the term down from 30 years to 15” and he thinks their monthly payment will go DOWN?!?? 💀💀
This show is terrifying…. Like I cannot fathom being this ignorant…. I’m well aware what I’m doing lol is it good? Not atm but I at least know I’m making terrible decisions if and when I do 😂
This guy is a DISASTER! He has 3 vehicles, a motorcycle, dirt bike, and ATV yet won’t sell any of it while he’s in debt as much as their annual income! And he keeps saying “why sell when I’ll buy another one?” OMG!!!
That's the disaster? Not the literal inability to operate a 0-10 rating? I'm actually angry just listening to that display and I'm not even 15 mins in.
@@garethkalum8297 if we pointed out all of his failures I’d surely exceed the comment character limit a few times over. Plus, I have a day job. But fair point!
The sad thing with this couple is that the guy is going to convince her that Caleb is the one that doesn’t know what he is talking about. I hope I’m wrong though.
Yeah in his mind Caleb doesn’t have credibility. He’s probably the type that thinks “the guy at the bank works at a bank so of course he’s right when he tells me to put it on a credit card”
Not saying yall are right but I for sure feel like she didn’t want him to see the onboarding bc she knows who she married and they wouldn’t have made it on had he known what they were going to be called out on their bs
The worst investment here is the choice of partner. If she leaves and starts over soon she actually has a shot at a decent life. If you see this comment, girl I hope you know that being alone and secure is so much better than being in a relationship that'll leave you in poverty.
People shame Caleb for talking to ADULTS LIKE ADULTS but literally the market abuses dumb people who love to be coddled and Caleb brings REALITY to the table
There will always be dumb people. Best you can do is to make sure you aren't one of them. Even better if you take advantage of them, like getting credit card rewards off their interest payments.
@@YouMissedBro Right lol, if everyone was more frugal the economy wouldn't be able to feed into and create these uber wealthy celebrities and ceos constantly. People like to complain about the rich when most of the time they are the ones paying for their private jets.
@@colinallcars5239His job is to go over the finances. He isn't a financial advisor or an educator, he's a youtuber. If you're 26/28 like these guys, it's your responsibility to be able to do basic math like calculating 30% APR
@roxyortiz8819i’m a young 20s person and i watch a ton of Caleb Hammer and as much as i love the drama content , i do learn a lot about budget and credit that i wouldn’t choose to learn on my own apart from real world circumstances where im just left confused . I agree he’s not talking about roth IRAs and shit but he’s taught me a goood bit as a younger person and he always links good sources to invest and learn more about investing and such .
What they call a “framed house” is a prefab house. The bricks indicate it does not have a foundation, meaning it is personal property, not real estate.
This is… so depressing :/ their comprehension skills, problem solving skills, inability to answer a question straight forward- I just feel bad for them. The system is working just as it was designed to to take advantage of them for not knowing better.
The real sad part is she's in grad school. She made it through a bachelor's and now grad school being that ignorant. She wants to help people in crisis and she can't even help herself!
I agree they cant even answer the basic questions and comprehend what Caleb was telling them. Caleb care thats why he screaming!!! How can owing $150-$160k is normal
That's a whole different issue. She's below average IQ and she's in grad school. That shouldn't be a thing. The educational system in the US convinces people they'll be smarter if they get degrees, so they take out loans to make themselves smarter 😂
It feels like she signed up for the show, then panicked when she realized Caleb was going to go through their Credit Cards, so she got a 21% loan to be in "Good Debt."
This couple is a textbook example how to slip out of the working class into poverty. He clearly has zero understanding of finance 101 and is not interested in educating himself or making a sacrifice or two for the benefit of the marriage. Gosh, Caleb just threw them a life preserver and the guy is saying "No thanks, we'd rather drown."
I'm telling you - debt in this current day and age is so weaponized and so easy to accrue this is a perfect example of how to fall into the death-by-a-thousand-cuts trap. I really hope they climb out of it but given he won't even sell his broken motorcycle I'm not holding my breath.
I have to disagree, he has the slightest sliver of finance 101 so that he can confidently make all the wrong choices. 0% apr is good, IF you can pay it off at the end of the 0%, mortgage vs rent CAN be a good choice if the finances are sound and its not on a stupid credit card. Peak dunning krueger.
Nah this guy put all his financial burdens on his wife and is doing so intentionally. He is sneaking around the money from the washer dryer to the 2k from the in laws to making her pay for the property he bought. These are already 3 things he did behind her back plus its super weird hes making so little money, dude needs to get a 2nd job or a higher paying job and taking accountability for what he bought. Her marrying him is the worst decision she'd ever made, hes f her over and her family
My husband and I have been together less time than they dated (together a little under 4 years, married almost 2, finances combined about 2 months before we got married), and we’re both blown away by their lack of communication. He buys a property without her knowledge, she pays off his debt without his knowledge. We don’t make any money decisions without consulting each other. We had been dating for about 3 months when I went to buy a house, and I asked him to come look at it with me because I knew I wanted a future with him, and I wanted his input. How have they been together 4.5 years, and they’re still making these huge financial decisions separately?!
This man is a credit card company's dream customer. Thinks credit card debt helps you get ahead in life, and views them as an appropriate emergency fund. This has to be the scariest situation yet, just because of the mindset.
Im not going to lie, this is amusing to listen too. Great content and even though Caleb is being blunt, you have to give credit to the participants for sharing their financial situation. Its an eye opener and hopefuly helpfull to hear the bigger picture from a different point of view.
Dudes a truck driver making $2400, his boss must love taking advantage of him. He should be making at least $7k. And nobody is gonna pay $44k for a Minecraft house
@@nbla39I know someone who is a box truck driver (not CDL) that brings home $3,500 per month and they cover housing and the housing where they live would be like $1,200-$1,500 per month. But I’m sure that box truck drivers salary varies by location a lot.
I feel sorry for these guys. They simply aren't intelligent enough to navigate this modern financial world and the system is eating them alive without remorse.
That’s the only reasonable conclusion about them. When Caleb was explaining the interest rate spreads and mortgages they looked so confused. If you don’t understand how quickly 22% can fuck you, there is really no sense in harping on the fact it’s 22%. Like these people are beyond gone. Cut their cards and tell them to only use cash.
Yes they are low intelligence. But finances are BASIC 3rd grade addition and subtraction. No one is so stupid they don't really know that spending > income is acceptable. They are just selfish and impulsive and think they deserve whatever they see other people have but they are too stupid to figure out how to make enough $ to afford what they want.
They are way too immature to make financial decisions. He goes out and spends money like it’s going to expire and she is getting personal loans to pay off credit cards. What a disaster.
She wants to save but has to cover his as for all his bs. He bought a property she is paying, she is paying the storage, she gave him money for the washer dryer _and_ is paying for the debt he was suppose to use the money for and he gave money that wasn't his from the in law to another in law. This man is shady af. He is abusing this girl financially and she gullible to even see it. 3x she was shocked she didn't know of something so clearly he is taking advantage of her ignorance and inability to be on top of her finances. He doesn't see a debt problem because hes not the one putting alot of money towards it she is thus its why she wanted to come because eshe can't do it alone anymore. Too bad he has no intention of helping her let alone look like he loves her, their presentation here looked cold af. He needs to man up and get a 2nd job to pay for his own sht
Every time I feel dumb or bad about myself I watch this show. It puts things into perspective that there are people way dumber than me but man that is also terrifying
This actually ranks near the top of the worst situation I've ever seen in terms of delusion and sheer stupidity. We have had crazier episodes and worse debt, but the mental gymnastics here go hard.
This was more of mental special Olympics. Their brains were going slow motion. Instead of finding some excuse dude would just say something non responsive to the question. Literal nonsense and not even thinking
Normally your guests are 100% emotions with their decisions. These two literally are financially illiterate, some emotions around the toys, but most of their problems are ignorance and terrible finance decisions.
@@23kurtzy I wouldn’t jump to calling them unintelligent. They’ve clearly had extremely lacking, or outright bad financial education. There is a clear attempt at planning and financial goals, it’s just completely misguided. I think basic finances are broken back down into the basics for them and shown different opportunities than credit cards they could understand and follow a plan. The wife has clearly realized they’re on a bad path and started watching Caleb’s videos. With the right attitude I think they’ll be fine.
@@catcat2607I think it's fair to say they're fiscally unintelligent. The guy especially believes what he's doing is right and has zero clue why it's not. Even though the girl understands she's on a bad path, she's got a LONG way to go yet. With him making the decisions he is & being so unwilling to change, I don't think this is going to end well for them. Realistically I feel like they'll continue to make awful decisions, likely will have a kid in the next 2 years, and then will live out the rest of their lives miserably broke.
He hid that Amazon account SO FAST when those dresses came up, and she looked pissed. I don't believe those dresses were for her Mom. He's got something going on the side
So many grown-ass adults in this world acting like literal children. “I don’t care that I can’t afford it. I won’t sacrifice my present for a better future. I want it NOW”
So many of the people Caleb has on the show CANNOT answer a direct question. Poor Caleb; it's like pulling teeth to get answers. I think it reflects the scattered way their brains work, which it why they are in a bad situation.
Congrats, every industry in our most industrious, big fat GDP nation relies on dumbass consumers using credit. So who’s really wrong in all this? Our economy would be in shambles without the droves of mindless consumers that spend tons of shit they don’t need. It feels wrong when that’s no part of the convo, like the entire reason is missing. Easy to just say people bad, but our current system not only relies on but is built on that bad.
Her whole mood shifted after they looked at the Amazon purchases. When he pulled his phone away all fast and said the dress was for his mom. And then the unknown cash app being sent out…either he really does pay too much for his mom and she doesn’t like that, or he’s being sketchy on the side and her thoughts are running wild for the remainder of the show. Either way, things are being brought to light that I don’t think she was expecting
That is shady. If it was for his mom. He would not have Yanked his phone. - either it's for him, and he is secrectly a cross dresser. - or its for his side piece.
Before he rents out that slide he better get an ironclad liability release or insurance policy on it. He's gonna rent it out, a kid will get hurt and the parents will sue him into bankruptcy.
I was skeptical of why Caleb always said Dave Ramsey doesn’t recommend consolidation - this girl just proved his point 😬 thinking she “paid them off” when she very much has not
Debt consolidation saved me. I went from paying 29 percent and barely making a dent in my debt to 3 percent and Ill have it paid off in a couple months
@@cortneym6901using debt consolidation to get a lower APR while not taking on more debt is one thing and it's fine if you follow the "while not taking on more debt" part. What OP and Dave Ramsey are talking about is when people do debt consolidation, think "Oh, I paid off all these credit cards so I can start using them again and build up a new balance," and end up having maxed out/high balance credit cards again ON TOP of the previous debt consolidation loan.
This guy is shady AF. I think he’s cheating on her and lying about the washing machine money and the cash apps. He keeps looking over at her trying to see her reaction to things.
His obsession with "the monthly payment" is borderline psychosis. He's the kind of guy who gets an 84 month car loan because "it lowers the payments". He buys supplemental life insurance because it's "only pennies a day". Bro has not had a thought since kindergarten.
I don’t think anything is wrong with supplemental. I have life insurance through work, supplemental on top of it and a separate term life policy with no issue.
He keeps talking percentages with these two. It is very clear they don’t understand. He had to learn how to translate percentages to certain people. They literally don’t understand
They just don’t get numbers at all, money is an illusion to them. You think it’s gonna matter whether he tells them 30% APR or you pay an additional $30 more for every $100 of debts
Yeah, it wasn't until he got to the end and said it would take 62 years to pay off their debt that it looked like *maybe* they were starting to get it. But I would have driven home the point that that's 62 years *if* they don't use their credit cards ever again, which they were not planning to stop.
They don't understand it. Regulations are too weak. You can't expect every person to be smart enough in this specific topic (maths/finances). A huge amount of the country is functionally illiterate. Remember when the teacher would make the class read a passage out loud and it was miserable because of the kids that took forever? It wasn't because of nerves. Visa and MasterCard take advantage of people.
These people don't understand basic math. Caleb, bless him, was using words they didn't understand on top of numbers they also don't understand. He needs a big white board innhis studio and to use like a red marker on the board to show them how much 22% interest will cost them this year alone. He needs to add that to the debt, then show them next year and keep going across several years. He also needs to shownthem the interest in the remainjng stuff and how the non-mortgage mortgage is hosing them. they are 1 broken leg from homeless while homie is sitting on over $20k in toys he refuses to sell at now 22% interest on the motorcycle. Caleb should also make up little picture papers to represent their debts and put them in a pile. The. He needs to ask them to remove the ones they ACTIALLY paid off with the $20k loan. When they touch any, smack theur fingers, put them back in the pile, and dump a new paper that reads 22% interest into the pile. People like this need to SEE physical representation of their bad choices. They never left the concrete or pictorial stages of learning in terms of maths. They cannot handle anything abstract. Talking to tjem with terms and numbers doesn't work. Heck a pie chart won't work. They need manipulatives. I wish Caleb would work with a good fundamental maths instructor who also writes curriculum at the 5th grade level to make up manipulatives and quick exercises he can do in person with guests when it's apparent a guest is nodding but no one is home. Once numbers and words start flying, people exit reality and basically become a "free" giveaway baseball bobble head (at 39% interest). @@Rspsand07
Could see right away she thought she was driving illegally without car insurance until her husband said he put her on his insurance. They have zero idea what the other person is doing with their money.
It's the number 1 thing I want to talk about on the first dang date 😂 I wait a bit though. Not going to even get engaged with someone who isn't financially on the same page.
I started a new relationship and we talked about debt the first night and what we wanted out of life haha, it was incredibly sexy 😂 neither of us have debt except his mortgage and we have decided to start a life together
Plenty of folks have demands or expectations financially, but they never discuss habits, priorities, etc. They may expect a partner make X amount, but pay no attention to how it's used.
@@talyahr3302 I feel like if you’re dating with the intention of getting married or just partnering up longterm, you 1000% need to talk about finances, future goals, and family planning from the jump. Because why risk wasting your time dating someone who might not be on the same page? Way too many people focus on minor and superficial things when talking about compatibility but will completely leave out finances and major life decisions out of the equation. Like idgaf what movies you like or if you prefer dogs to cats. I want to know how responsible you are and if your future goals align with mine so that I know how well you fit into my life.
@@xoxoEllieECoI watch him! He’s good. Still trying to figure out how he gets away with basically showing the entire episode, but I appreciate the heck out of him as a cord cutter!
This episode really gave me that wake up all I needed, what they did is so scary I didn’t think about APR and how and how bad it is. taking those courses ASAP
It gets me every time when Caleb tells the guests to sell "X" cause it will save them money cause they can't afford it, and they are like "Na I can't get rid of it cause I love it, I won't make sacrifices". Like bro, why are you even on the show then if you aren't going or willing to make sacrifices?
I have been in the recovery community for years now and it's the same thing with a lot of folks in early recovery. Dudes won't cut ties with the same cousin or brother that has kept em in trouble their whole lives cuz "that's family" but the same mfrs wouldn't put a little money on your books when you were locked up. If you want different do different. It sucks realizing you have been taught survival and now it's time to learn to actually live but if you really wanna move forward it takes that sacrifice and willingness.
He could literally buy a brand new bike in a few years with *just* the money they'd be saving on interest payments. Faster if they use their monthly surplus.
The wildest thing is that there was a car that wasn't a daily driver, a "weekend" motorcycle, an ATV, and a dirt bike. All toys that would only be used on weekends. You literally can't use all these things. Even if having that weekend activity was critical to your quality of life... Fine choose one sell the others. It's just wild.
I still can't find an image of what their house is supposed to be. "Frame house" "on bricks"? Pretty sure they were sold a mobile home with brick skirting.
@@stanton7847 the person who sold him that land is laughing all the way to the fkn bank. He's probably like "this idiot didn't even go home to think about it and talk to his wife, he just signed the papers right there!" 😂
When the guy kept saying "I'd just buy another bike" What Caleb should have said is "Yes, once you've paid off all your debt, save up and buy another motorbike in CASH"! It really is that simple.
I’m glad that Caleb talked about this because my boyfriend and I of 2 years talk about finances a lot, and it freaked our families out and they said things like “well you guys aren’t there yet”. And our response was “yeah, and neither of us want to be blindsided when we do get there” 💀 talking is healthy
Same, we always talked about our finances and budgeted together, and we're so much farther ahead for it. If you can talk about it before marriage, it's just second nature afterwards.
It's so important. Before marriage you have to talk about having kids and how many, politics, money, religion, career aspirations, where will we live, one or both running the finances. There could be some massive deal breakers hidden in there
The people that criticize are the ones that end up fighting because their spouse hides money, spends recklessly, doesn’t pay bills on time, has terrible credit, etc. Good on you for having those conversations because your partner’s finances will 100% affect you if you get married (even if you don’t combine your accounts) or so much as move in together. It blows my mind how people don’t have these conversations all while knowing that finances are a major reason why couples divorce. Not talking about money is like when people don’t talk to their partner about having kids in the future and then act all hurt and blindsided when they’re deep into the relationship and realize that they’re not on the same page. Way too many people don’t factor in family planning or finances when determining compatibility and it’s so insane to me.
This is wild. $1,500 a month for 30 years on a $120,000 propery is $540,000!!!! Caleb needs to tell these people WHAT THEY WILL ACTUALLY PAY vs what they bought it for.
It does sound crazy but it depends if that’s the total payment with property taxes and insurance. Insurance went up a lot for the south this year. We expecting quite a few major storms.
There are so many ways they could've spent less and still had a nice time. Get a free venue. Get your cake from the grocery store. Rent or buy used Tux / Wedding Dress. E invites only so you're not spending for paper invites, envelopes, and stamps.etc. But instead they way overspent. Unreal.
I'm confused how the mom was "paying for the wedding" but then asked them for money for their WEDDING lol. Honestly, they get this ignorance from their parents as well. He's paying his parents bills even though he's poort.. and her mom is asking for money for a wedding (they shouldn't of had) that she PROMISED TO PAY FOR lol. They shouldn't married because they don't even know what each other is doing.. he's sketchy.... but that's a topic for another show...
@@shabrimac1993I think the full story isn't being told about the wedding. What bride doesn't have a say in what happens during her wedding? She probably wanted things her mom didn't want to pay for which led to he paying in or something else happened
We’re looking for our first house now, I really want a house. HOWEVER, I hate this response that “rent gets you nothing, it’s a waste of money.” You pay a months rent and GET a place to live, a roof over your head, appliances; you GET a life without maintenance, something breaks, just pick up the phone, you GET the flexibility to move within days or weeks if your rent goes up or your have to switch jobs. Don’t believe this LIE that renting is a waste. Renting AND owning BOTH have pros and cons and can be better or worse than specific situations.
You know what they say, when you rent, your monthly rent is the maximum you'll ever have to spend on your home. When you own, your monthly mortgage is the minimum you'll have to spend on your home. When you own the property you're responsible for everything
I've never met a landlord who doesn't include most costs in rent. They charge above the mortgage to cover insurance taxes etc. And the repairs yeah that's just like owning a car those costs are expected and definitely need to be considered if your truly looking at buying for sure, cause unless you have an emergency fund to move in with you could be in real trouble! So renting is amazing shirt term but for financial security in the future it's beneficial to have property, investing in your own future is always better than investing in others @@SuzER08
As a homeowner I tell my friends this all the time, it’s not always rainbows and butterflies, don’t rush into it, enjoy the benefits of renting because homeownership can hit you like a Mack truck if you’re not financially ready
Renting as a young person who’s lost is the only way. Idk wtf I wanna do.. I have no business owning property or having enough income to maintain it if I need to - my apartment is sick I don’t wanna leave lol
watching this high has got to be the most funny thing ever. I can’t even tell if the couple is being serious or not 😭. I feel like they’re just here to look like they’re ignorant, but they’re not.
2 Minutes earlier, "by renting they are just pocketing what you pay" 2 minutes later " we are paying owner to owner interest of 12 percent to another guy who sold us the land" these people are idiots.
Yea but by renting youll never own it, paying to own at least theyll own it eventually. But i understood what you meant. This couple is definitely lacking upstairs 😂
@@trujillo71921who gives a shit about “owning” when by the end theyre gonna pay 250-300% of the homes value. they got fleeced. they need to sell and rent and invest the difference. they are pissing away most of their money for the sake of “equity”. financially illiterate
@@trujillo71921 exactly then they can take a loan aginst the house to pay off all the credit cards they used to build the house. and keep paying off intrest to some bank for years to come.
@@trujillo71921 They stated that their monthly payment isn't even going towards the principal, so they're literally just renting it lol they'll never own it if their payment doesn't go to principal
@SoulShiina yup that was my mistake. I commented early before I heard that part, so im gonna go ahead and delete that comment 😂. This just got worse and worse as the video went on its dam near unbelievable lol this is insane.
Caleb. You need to show them the difference. 62 years or 3 years if he sells his motorcycle, dirt bike, 4 wheeler, gets a weekend job adding an extra $2k a month, use helium, meal prep to save $100 more a month, she gets a second job making $1000 a month, they get raises at work, etc. paint a picture of what a year of hard work and sacrifice can do. What will their lives look like with no monthly payments, no debt? They can’t see the goal so dont think the sacrifice is worth it.
Good idea - they won’t cuz our welfare system is what they and many others regardless of race, color and/or ethnicity will rely on if shit hits the fan.
Or if she actually uses her MSW, gets a stable government job, gets a SAVE plan, takes advantage of the public service loan forgiveness program, maxes out the pension, and gets a side job....
He clearly said MULTIPLE times he wasn't willing to sell his other vehicles. He also didn't want to get another job because he thinks "his side hustle" was enough. There was no getting through to them. Their financial illiteracy is dangerous and I don't think they'll learn until it's too late 😮💨
One day they will have kids, and the kids are going to be the same and say "My parents never showed me how to budget. My parents needed the money for this and that. My parents needed me to move back in so I can help pay for the mortgage." And they just really dont care or understand this.
Dude, I'm so happy you do this show. You're doing this world and the folks on the show a huge favour. Consumer debt is such a problem nowadays, so much so that friends of mine who're not even 30 filed for bankruptcy recently. That. Is. Insane. It's getting out of hand.
They don’t understand what 22 percent is. Caleb, you need to hold their hand and show them how much extra interest they will Bobby paying over the life of the loan. “Losing 22 percent” is far less meaningful than “losing $4500 a year in interest”.
He did and they didn't bat an eye. He said they're losing 3000 to 3500 a year in interest to that consolidation. It's like talking to walls even holding their hands.
@@k20z3keith7No, I really do not think they understood what he was saying at all. Caleb needs a 5th grade math specialist with expertise in curriculum development help him with HOW to explain numbers and these words to people who really do not get it. These people never left the concrete stage of development in theur math reasoning. They're ont foot into the door of the pictorial stage, but they aren't fully there, and they are nowhere near the abstract understanding stage with the math going on with debt finances.
@victormeza1664 I thought she chose to put all the zero interest cards into the 22% interest loan? Maybe I'm mixing that up, if that was her call then that might be worse than what he did.
@@victormeza1664 both would be better off without the other. They have a net negative effect on each other. Usually they average out but somehow these guys are special and drag each other down.
I remember hearing all the "renting is a waste when you could just buy instead" rhetoric growing up. I'm naturally a skeptical person so I always took it with a grain of salt, and come to find out people only say that because all they do is look at average mortgage prices vs average rent and see that mortgage payments typically aren't that much more than rent. But what they don't understand is there is a ton more that goes into owning a home than renting. Sure if you look super long term, eventually owning your house rather than renting is better. But we're talking minimum a decade down the line. And if you can't handle financing that long term commitment then renting is much cheaper short term.
I remember talking to a girl with a 5k loan at 20% interest while she had over 5k on her account. I said pay the loan off now, she said no she likes having 5k in her account. I explained to her how the loan costs 1k per year and she said I know but I like having 5k in my account........same type of person
@@gertvanderhorst2890 FML..... nooooo she is not right, you pay the 5k on the CC, keep using it & pay in full Monthly, the CC doesn't get closed & you have a 5k CC as an emergency fund without paying Interest, its really not rocket science
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Hey Hammer team- I purchased the course last week and still haven’t heard anything on the Moomoo credits. I reached out by email twice but haven’t heard anything back.
@@coreysmith_1101did you email my team support@calebhammer.com?
I’ll have them search for your name and make sure it didn’t go to spam or get flagged
I'm wondering if they're talking about a modular home?? I don't know much about them, but there is one that sits on bricks(foundation)
Hey Hammer Team- I’m trying to purchase the investing program and when it’s time to pay the page refresh and price goes back to $147 instead of $97
@@CalebHammerI did! Although I just got an email talking about the vouchers coming out this week so I may have jumped the gun.
It did say in order to get the voucher I have to also input $100 which I never heard throughout buying the course. Might be a good thing to put out because I totally thought $100 would just get dropped into the MooMoo account, but now I have to drop another $100 to even redeem that. Thanks for the response!
You know what this show needs? A heart rate display for Caleb.
I would pay for this
Wonderful idea
I’ve suggested that before- it would be a fantastic addition! 😅
This is actually a great idea
And a lie detector for the people being audited 😎
Paying off a 0% interest card with a 21% interest loan is by far the dumbest thing I have ever heard of.
It was so incredibly dumb, like the math is not mathing at all. I want to be nice about it but I don’t understand why,
@@KiingM i don't think you can be nice. It's fucking stupid to think that it makes any sense. Especially at their ages.
This really is the stupidest couple. Unbelievable how at this age they have no idea on basic premise of interest and credit.
It's no problem- they can just consolidate that debt with others on a 30% loan and then that 21% loan will go away!
I usually just listen when I'm working but I had to rewind and see Caleb's reaction to this, that was painful 😂😂😂😭
HER NAME IS NOT ON THE HOUSE?!?? And she keeps taking personal loans to save his ass? GIRL WHAT ARE YOU DOING?!
She will get what she deserves.
Texas is a community property state so it really doesnt matter if her name is on the deed.
@@royh2618 interesting! Still, not telling her is pretty much the same thing lol
1 to buy 2 to sell. She doesn't need to be on the loan.
You belong to the streets.
My husband sold his hot rod that he built because we needed money and not a hot rod. The crazy part is i was the one hesitant & his response was “my family is more important than a vehicle”
You won the marriage lottery.
What a man !🎉
What a chad 💪🏽 Proof that us REAL MEN exist!
That's a good man right there.
I get you girl!! I can't imagine being stuck with one of these losers, my husband busts his ass so I can stay home with our babies, he saves, we budget, he is just such a blessing and peace I cannot imagine being in one of these dead end relationships
The amount of times this couple said "it's paid off" when in reality the debts were just moved to a larger interest rate is extremely scary.
It was so frustrating to me how on one of the cards Caleb literally asked if the debt was moved with a consolidation loan and she said no, then later she admitted that it was
Exactly, I think they struggle to comprehend how crippling the high interest rate of a personal loan or credit card loan is. You end up treading water while your payments just rise or stay the same
They're laying off 0 interest debt with high interest debt they aren't paying off anything, they're just moving it around hahaha wtf
Paying off one debt with a new higher intest debt is what's called death spiral financing (fun fact, the US government has been doing this for a while now...).
Someone said we need to call this show "financial audacity" and I couldn't agree more.
Sounds more accurate honestly 😂😂
Hahahahhaha
This needs to be pinned omg I’m dead
son of a bitch that’s good
😂😂😂😂😂
Their one and only saving grace is that they do not have kids.
Please don’t have kids.
Please don’t have kids.
Please don’t have kids.
My thought exactly. They’ll finance the baby with several credit cards.
The irony is some people have a fire under their ass when they get kids and get their stuff together. But some people don’t. I don’t have faith they would
...yet
Oh nah, she finna be pregnant with that couple's debt logic.
Not yet anyway, on the other hand though a kid might be what they need to realize the mistakes they have made.
Ramsey hits this on the head with the saying “wealthy people look at the cost and poor people look at the monthly payment”. This couple is the prime example of people making more margin while increasing interest. Just dumb.
This and his focus on not consolidating makes PERFECT sense with this couple
That honeymoon period coming to a full stop on Financial Audit today 😂
A screeching stop, even
😂😂
Smashing right into a wall full force.
Reality hits
The speed of the honeymoon phase is segwaying really nicely into divorce papers phase. Only few minutes in but seems to me, theyre flooring it. Pedal to the metal
These people make a combined annual income of $50K. They had no business having a wedding, buying a house and certainly NOT using credit cards.
Just waiting for the kiddos
you can have a wedding for way less than they did, it's just not like fairy-tale dream wedding that everyone thinks they need...
It was worth every penny and then some for them😂😂
They'll have everything taken care of for them from the hard working tax payers while they have kids and continue to make awful decisions and blame the everyone else for their stupid decision. Especially her husband who made a massive purchase on property without even talking to his wife. Their marriage is destined to fail
I wouldn’t say, “had no business”. Those things were the least of their problems. They decided to get together and not communicate about ANYTHING it seems. That’s what was crazy to me
An 8 out of ten from a guy who thinks 0% APR means its free is incredible
“credit is for buying the things you can’t afford”
It's not actually what they meant. They meant they can pay the minimum until the end of the 0%. Then pay it off (though they missed a different one).
@@Sadreath this actually had me laughing out loud, you good person, are not bloody wrong XD
I lost it when he was like "8 ... I see a path forward" and Caleb said "I'm talking about where the fuck we're at now".
It kills me that Caleb thinks he's a 7 and bro said he was an 8 😂
That's not a coping smile. That's is the "it is nice there is another person who can tell my husband that he need to get his finances together. And I can't say anything because then we will get into another fight" smile
She’s just as bad as he is.
She litterly traded a 0% loan for a 21% loan because she knows nothing abour finances. Ya she is totally the better one. They are both horrible
Bruh did you even watch the video
You talking just to talk at this point
God forbid the female have any accountability.
The husband is not going to take any of Caleb's advice & she is going to keep enabling him. They're going to wind up bankrupt & divorced within 5 years.
1 year
and thats really sad, she looks like she's willing to do something about their situation... hes just absolute trash
How is she enabling him? She can't make him do anything
@@Somebodyelse141 she has many wants and does not think about what she is signing up for before she does it. She can easily blame him for making the decision, but she enables him by being ignorant. He is the problem but agrees with him way to much
@@cr1994yellow I understand that. I agree.
Signing up for a $120,000 property without even consulting your SO is a way to ensure that your relationship ends in disaster
Buying a video game console without talking about it is a disaster (been there, done that and got the cheap Crash Bandicoot t-shirt). Buying property ends in ashes I imagine.
Fr
She's a woman, as long as she can cook she doesn't have anything to say about everything else.
That’s insane. They clearly didn’t need 3 acres
Wtf, I just hit the spot where they dropped the bomb of 12% interest on the property!!!
She doesn't understand interest and he doesnt understand debt. A dangerous combination. I hope they learn something from this.
It seems like everything Caleb said went over their heads.
They dont understand basic math, essentially
@@shadowfox2120I just think they’re not super familiar and Caleb is speaking with an assumption of background knowledge. Going back to fundamentals and how they’re impacted (interest rates, minimum monthly payments, business loans etc) need to be broken down a bit more for them. They clearly have bad information to start with and need to start back from zero.
Am I silly for thinking the wife who is working on her masters should be able to keep up with Caleb, here???
He doesn’t care and she’s stubborn and won’t admit any changes are needed. He thinks a Home Depot card proves he’s a man and she thinks pouting and saying “it’s fine” is cute and will make people stop bothering her.”
That 'lapses in memory' and reluctance to answer questions like what happened to the money from selling the business equipment is ringing alarms in my head that something isn't right
jupp, she doesn't know how much she got in wedding gifts or which savings went to what... Either evading taxes or getting money from some shady means
I’m late to the game here but a part of me thinks the business thing is bullshit. Something about it being too busy and also not making ANY money off of it. She couldn’t answer how much it was, how much she made, and how much she sold it for. I think she has a not-so-acceptable side hustle (OF?) and concocted the business as an ill thought out lie.
That dude 100% took that washer dryer $$ and spent it on something for himself then bought the washer dryer on credit hoping she wouldnt notice. He super sketchy.
Exactly
Shady
They kind of deserve each other. They both sound dense as hell.
His level of discomfort in this conversation tells you a lot.
SUUUUPER sketchy! She’s a bit dense and terrible at math, but at least she wants to do better. Her husband is going to argue to the bitter end that keeping a broken motorcycle, side hustling water slides, and playing credit card roulette is “the path” forward. Money is always going to burn a hole in his pocket.
My jaw went from the floor to hell when she didn't even know her name wasn't on the house
Same, that's scary af. It was just glossed over too but he knows he's screwing her over and she's okay with it?!
It almost sounds like he has an exit plan...
Lord hopefully she didn’t sign an exploitative prenup or isn’t helping paying it dow
@@catcat2607 She HAS been helping to pay it down, and besides, in Texas, it doesn't matter that her name isn't on the deed. Community property laws will guarantee that she's on the hook for the debt same as him if they split up. She's doomed to go down with the ship he's speed-running to the bottom.
@@Shukochan Oh goody. It’s not bad in the way I thought, but bad in an entirely different way. Love that. 💀
“I don’t like renting because someone else is getting that money and we don’t own anything in the end.”
*uses a 30% APR credit card to build a house*
💀💀💀
The irony is strong in this one.
Right make it make sense 😂
And buying things with something with money they dont even own in the end, lol.
Yes, duh, it makes perfect sense. Once they sell the house for a loss, his words, and pay off the debt of 3x the APR of a normal mortgage they are going to come out ahead by $-7000 but at least they got to say the house was theirs.
Funny how ppl use this analogy to buy a house, but won't use the same concept when they go our to eat, or on vacation, or anything and everything spending money you. You are basically paying someone's mortgage.
10:04 For anyone confused on what kind of home they have, they likely have a mobile/ manufactured home. They are preassembled homes that you can transport to a location and build a “skirt” around the base of the home/undercarriage with bricks,wood panels, or other material.
It could also be considered a “tiny home,” depending upon the location
Yeah I was thinking maybe they were talking about a double wide.
“THAT’S WHY WE WANTED THE CREDIT TO BUY THE THINGS WE CANNOT AFFORD”. That was a classic line
It's why credit exists. Why everyone chases that coveted credit score.
@@michaelweyenberg6238I hope you're joking.
That was wild!
@@christianhunt8788 The type of people banks love. The type of people on this show.
@@michaelweyenberg6238 OK gotcha. I just interpreted that as you agreeing with them. Makes more sense now.
Him saying “we want to refinance the house to cut our monthly payment down” but also said “we want to cut the term down from 30 years to 15” and he thinks their monthly payment will go DOWN?!?? 💀💀
Catch 22 for this fool
Get the 30 year and pay extra when you can. Jesus
Complete, utter, ignorance.
His mental calculator is broken
This show is terrifying…. Like I cannot fathom being this ignorant…. I’m well aware what I’m doing lol is it good? Not atm but I at least know I’m making terrible decisions if and when I do 😂
"Between the dirt and the house, there's bricks."
Now it's all clear.
Because repeating the same thing over and over again will sure make it clear 👌
🤣🤣🤣
She should have said "between both of my ears, there's air"
Hope there’s not a stiff wind!
It’s a manufactured home sitting on blocks basically to keep it off the ground.
The atmosphere shift at the "dresses" honestly gave me goosebumbs 😮 and caleb didnt even bat an eyelid 😂
LISTEN I was thinking the same thing. Ran to this comment section. She went non-verbal omfg
This guy is a DISASTER! He has 3 vehicles, a motorcycle, dirt bike, and ATV yet won’t sell any of it while he’s in debt as much as their annual income! And he keeps saying “why sell when I’ll buy another one?” OMG!!!
I bet $1000 he is cheating on her
@@aybawsremember this
That's the disaster?
Not the literal inability to operate a 0-10 rating?
I'm actually angry just listening to that display and I'm not even 15 mins in.
@@garethkalum8297 if we pointed out all of his failures I’d surely exceed the comment character limit a few times over. Plus, I have a day job. But fair point!
Well yeah, he's 20 - and no one's mentioning how she admitted to being a statutory rapist. There's no way she's entirely the victim here.
I’ve got my taquitos and my sweet treats, and I’ve put them on a 39% APR credit card - I’m ready!
Make sure it’s a Credit One card! 😝
Use the Fizz card, you aren’t a credit card person
LMFAO 🤣🤣🤣🤣
Gotta Affirm those little treats 😂
Dave run, I can see the Title coming
The sad thing with this couple is that the guy is going to convince her that Caleb is the one that doesn’t know what he is talking about. I hope I’m wrong though.
I imagined this too. They when they leave, he uses his stubbornness to convince her that Caleb is exaggerating for a show. It’s sad.
Yeah in his mind Caleb doesn’t have credibility. He’s probably the type that thinks “the guy at the bank works at a bank so of course he’s right when he tells me to put it on a credit card”
Not saying yall are right but I for sure feel like she didn’t want him to see the onboarding bc she knows who she married and they wouldn’t have made it on had he known what they were going to be called out on their bs
The worst investment here is the choice of partner. If she leaves and starts over soon she actually has a shot at a decent life. If you see this comment, girl I hope you know that being alone and secure is so much better than being in a relationship that'll leave you in poverty.
Omg that’s exactly what I was thinking! I dated a guy like that, so glad I wasn’t dumb enough to marry him or get pregnant 😅
I can't wait for a follow up. When Caleb said 14yrs their faces dropped. They didn't get it till right then. I think something clicked.
People shame Caleb for talking to ADULTS LIKE ADULTS but literally the market abuses dumb people who love to be coddled and Caleb brings REALITY to the table
There will always be dumb people. Best you can do is to make sure you aren't one of them. Even better if you take advantage of them, like getting credit card rewards off their interest payments.
@@YouMissedBro Right lol, if everyone was more frugal the economy wouldn't be able to feed into and create these uber wealthy celebrities and ceos constantly. People like to complain about the rich when most of the time they are the ones paying for their private jets.
Caleb does an absolutely crap job of illustrating the issue to them. He bounces between questions way too fast
@@colinallcars5239His job is to go over the finances. He isn't a financial advisor or an educator, he's a youtuber. If you're 26/28 like these guys, it's your responsibility to be able to do basic math like calculating 30% APR
@roxyortiz8819i’m a young 20s person and i watch a ton of Caleb Hammer and as much as i love the drama content , i do learn a lot about budget and credit that i wouldn’t choose to learn on my own apart from real world circumstances where im just left confused . I agree he’s not talking about roth IRAs and shit but he’s taught me a goood bit as a younger person and he always links good sources to invest and learn more about investing and such .
What they call a “framed house” is a prefab house. The bricks indicate it does not have a foundation, meaning it is personal property, not real estate.
Can we just call it a mobile home? Those things never appreciate in value
@@FlyingJ420A prefabricated house will appreciate like a stick-built house, IF you put it on a foundation.
You can get an affidavit of affixture on mobile homes/trailers/prefabs to make it real estate
@@FlyingJ420 Yeah, they do. 20/20 my mobile home has doubled in value
If you own the land the pre fabbed house sits on its real estate
This is… so depressing :/ their comprehension skills, problem solving skills, inability to answer a question straight forward- I just feel bad for them. The system is working just as it was designed to to take advantage of them for not knowing better.
The real sad part is she's in grad school. She made it through a bachelor's and now grad school being that ignorant. She wants to help people in crisis and she can't even help herself!
They can't even understand questions about basic numbers. They don't acknowledge the numbers are dollars. The 2 combined have an iq of a goldfish.
I agree they cant even answer the basic questions and comprehend what Caleb was telling them. Caleb care thats why he screaming!!! How can owing $150-$160k is normal
That's a whole different issue.
She's below average IQ and she's in grad school. That shouldn't be a thing. The educational system in the US convinces people they'll be smarter if they get degrees, so they take out loans to make themselves smarter 😂
They're taking advantage of themselves. You are solely responsible for your decisions and education
Many fellow Hispanics have the same mentality, “enjoy life and think about it later”. So dangerous!
Did she understand why paying a 0% card with a 21% loan is bad ? I feel like she needed more education in that moment .
There needs to be a white board aided financial education segment tailored to each guest
Anyone that needs education as to why that's the dumbest thing anyone has ever seen, is beyond help.
It feels like she signed up for the show, then panicked when she realized Caleb was going to go through their Credit Cards, so she got a 21% loan to be in "Good Debt."
Yeah I think Caleb should have used more visual charts/ calculators to show how terrifying 21% actually is
Me too. She did not understand what interest is, how it accrues their debt. They don’t get it.
he SIGNED on a PROPERTY without telling her and she STILL MARRIED HIM????? GIRL--
She’s not too quick on the uptake
@@emilyk6510Seeing as he can't even operate a 0-10 scale correctly, neither is he, lmaoo
A property her name isn’t on and she’s paying for it!
She's an enabler
she's not an angel either
This couple is a textbook example how to slip out of the working class into poverty. He clearly has zero understanding of finance 101 and is not interested in educating himself or making a sacrifice or two for the benefit of the marriage. Gosh, Caleb just threw them a life preserver and the guy is saying "No thanks, we'd rather drown."
I'm telling you - debt in this current day and age is so weaponized and so easy to accrue this is a perfect example of how to fall into the death-by-a-thousand-cuts trap. I really hope they climb out of it but given he won't even sell his broken motorcycle I'm not holding my breath.
I have to disagree, he has the slightest sliver of finance 101 so that he can confidently make all the wrong choices. 0% apr is good, IF you can pay it off at the end of the 0%, mortgage vs rent CAN be a good choice if the finances are sound and its not on a stupid credit card. Peak dunning krueger.
Nah this guy put all his financial burdens on his wife and is doing so intentionally. He is sneaking around the money from the washer dryer to the 2k from the in laws to making her pay for the property he bought. These are already 3 things he did behind her back plus its super weird hes making so little money, dude needs to get a 2nd job or a higher paying job and taking accountability for what he bought. Her marrying him is the worst decision she'd ever made, hes f her over and her family
My husband and I have been together less time than they dated (together a little under 4 years, married almost 2, finances combined about 2 months before we got married), and we’re both blown away by their lack of communication. He buys a property without her knowledge, she pays off his debt without his knowledge. We don’t make any money decisions without consulting each other. We had been dating for about 3 months when I went to buy a house, and I asked him to come look at it with me because I knew I wanted a future with him, and I wanted his input. How have they been together 4.5 years, and they’re still making these huge financial decisions separately?!
This man is a credit card company's dream customer. Thinks credit card debt helps you get ahead in life, and views them as an appropriate emergency fund. This has to be the scariest situation yet, just because of the mindset.
The funniest thing is he took money for the washer and dryer, used that money for something else, and then got the washer and dryer in credit😂😂😂
He did get ahead tho, 2 steps ahead and 50 steps back, lol
“Think of how stupid the average person is, and realize half of them are stupider than that.”
― George Carlin
That's the median lol but I get the point.
@@jaysha5226I think that was secretly part of Carlin's joke
A joke for the below-median, and a joke for the above-average 😜
@@jaysha5226exactly, that joke always has pissed me off lol
@@romainhedouinno it’s just a shit “joke”
@@toohda Getting mad at a joke because one word is a bit inaccurate? You must be fun at parties.
He barely brings in $2000 a month and doesn’t want to sell his bikes. 🏍️ what a child!!!!!!
But, he already has the title!🤦♂
I thought he brought in the 4500 alone 😮
Don't forget that $1600 slide! - see he's a big boi
As a truck driver myself I'm trying to figure out how he only makes 2k a month. He should be twice that at a minimum.
@@TruckerJDub same! I have family who are truckers and at a minimum he should be making somewhere in the 40’s per year.
Im not going to lie, this is amusing to listen too. Great content and even though Caleb is being blunt, you have to give credit to the participants for sharing their financial situation. Its an eye opener and hopefuly helpfull to hear the bigger picture from a different point of view.
Dudes a truck driver making $2400, his boss must love taking advantage of him. He should be making at least $7k. And nobody is gonna pay $44k for a Minecraft house
I know as a truck driver my brother in law makes close to 6 figures.
Minecraft house! Bahh haha!! 🤣
Did he say he'd a CDL driver? Or just a box truck driver?
@@nbla39I know someone who is a box truck driver (not CDL) that brings home $3,500 per month and they cover housing and the housing where they live would be like $1,200-$1,500 per month. But I’m sure that box truck drivers salary varies by location a lot.
@@nbla39he said 18 wheeler.
I feel sorry for these guys. They simply aren't intelligent enough to navigate this modern financial world and the system is eating them alive without remorse.
That’s the only reasonable conclusion about them. When Caleb was explaining the interest rate spreads and mortgages they looked so confused. If you don’t understand how quickly 22% can fuck you, there is really no sense in harping on the fact it’s 22%. Like these people are beyond gone. Cut their cards and tell them to only use cash.
Yeah i would really love to know what happened to them in 5 years or so
Yes they are low intelligence. But finances are BASIC 3rd grade addition and subtraction. No one is so stupid they don't really know that spending > income is acceptable. They are just selfish and impulsive and think they deserve whatever they see other people have but they are too stupid to figure out how to make enough $ to afford what they want.
The sad part is they don’t know and even when they started too. They didn’t care either
A fool and their money are easily parted.
They are way too immature to make financial decisions. He goes out and spends money like it’s going to expire and she is getting personal loans to pay off credit cards. What a disaster.
She wants to save but has to cover his as for all his bs. He bought a property she is paying, she is paying the storage, she gave him money for the washer dryer _and_ is paying for the debt he was suppose to use the money for and he gave money that wasn't his from the in law to another in law. This man is shady af. He is abusing this girl financially and she gullible to even see it. 3x she was shocked she didn't know of something so clearly he is taking advantage of her ignorance and inability to be on top of her finances. He doesn't see a debt problem because hes not the one putting alot of money towards it she is thus its why she wanted to come because eshe can't do it alone anymore. Too bad he has no intention of helping her let alone look like he loves her, their presentation here looked cold af. He needs to man up and get a 2nd job to pay for his own sht
Stupid is the correct word in my opinion
Every time I feel dumb or bad about myself I watch this show. It puts things into perspective that there are people way dumber than me but man that is also terrifying
This actually ranks near the top of the worst situation I've ever seen in terms of delusion and sheer stupidity. We have had crazier episodes and worse debt, but the mental gymnastics here go hard.
I could not believe everything that came out of their mouth......fools made for each other....
This was more of mental special Olympics. Their brains were going slow motion. Instead of finding some excuse dude would just say something non responsive to the question. Literal nonsense and not even thinking
Normally your guests are 100% emotions with their decisions. These two literally are financially illiterate, some emotions around the toys, but most of their problems are ignorance and terrible finance decisions.
100% agreed. For them to say a credit card is for paying for things they can't afford is clear that they don't have any financial literacy.
Haven’t watched the full yet, but ignorance can be solved more easily than emotions with the proper guidance. Hope Caleb can guide them.
@@catcat2607Wow it’s almost like people who apply for free financial advice because it’s all they can afford aren’t very intelligent.
@@23kurtzy I wouldn’t jump to calling them unintelligent. They’ve clearly had extremely lacking, or outright bad financial education. There is a clear attempt at planning and financial goals, it’s just completely misguided.
I think basic finances are broken back down into the basics for them and shown different opportunities than credit cards they could understand and follow a plan. The wife has clearly realized they’re on a bad path and started watching Caleb’s videos. With the right attitude I think they’ll be fine.
@@catcat2607I think it's fair to say they're fiscally unintelligent. The guy especially believes what he's doing is right and has zero clue why it's not.
Even though the girl understands she's on a bad path, she's got a LONG way to go yet. With him making the decisions he is & being so unwilling to change, I don't think this is going to end well for them.
Realistically I feel like they'll continue to make awful decisions, likely will have a kid in the next 2 years, and then will live out the rest of their lives miserably broke.
He hid that Amazon account SO FAST when those dresses came up, and she looked pissed. I don't believe those dresses were for her Mom. He's got something going on the side
Ooh I missed that
I noticed that too!!!
That's where he goes on the 🏍️
I noticed this too! She was confused about the dresses too.
For sure. Her demeanor changed completely for the rest of the episode. Girl needs to RUN… he thinks hes a financial guru but is ruining their lives.
I need a follow up for these two ASAP. I know its only been 4 months but I think about them often...
So many grown-ass adults in this world acting like literal children. “I don’t care that I can’t afford it. I won’t sacrifice my present for a better future. I want it NOW”
Thank the parents who didn't teach them about delayed gratification.
So many of the people Caleb has on the show CANNOT answer a direct question. Poor Caleb; it's like pulling teeth to get answers. I think it reflects the scattered way their brains work, which it why they are in a bad situation.
I'm sure all of these new immigrants flooding into our country will fix this! /s
Congrats, every industry in our most industrious, big fat GDP nation relies on dumbass consumers using credit. So who’s really wrong in all this? Our economy would be in shambles without the droves of mindless consumers that spend tons of shit they don’t need. It feels wrong when that’s no part of the convo, like the entire reason is missing. Easy to just say people bad, but our current system not only relies on but is built on that bad.
It's official this show is actually making me dumber 😅
Her whole mood shifted after they looked at the Amazon purchases. When he pulled his phone away all fast and said the dress was for his mom. And then the unknown cash app being sent out…either he really does pay too much for his mom and she doesn’t like that, or he’s being sketchy on the side and her thoughts are running wild for the remainder of the show. Either way, things are being brought to light that I don’t think she was expecting
No wonder he didn’t want to come on the show.
Totally agree, his body language was all over the place and he YANKED that phone away before she could see the dress.
yea im married and that was shady AF also she doesnt have access to that account? me and wife share everything.
@@EverydayDesignerSame. No secrets
That is shady. If it was for his mom. He would not have Yanked his phone.
- either it's for him, and he is secrectly a cross dresser.
- or its for his side piece.
She probably walked out that day and said to him “I don’t think we did that bad”
Lmaooo this made me laugh out loud
And then he said “I see a path forward.”
@@jcnot9712😂
She said to her husband "wow so you're just gonna burn me like that" under her breath so she knew exactly where that 5000 came from
Bro is shady. He’s definitely not disclosing everything.
yes .. maybe i am wrong but it felt wrong when he said the dress is his moms dress for the wedding. Like he was hiding smth.
@@MartinaT95 yeah it his girlfriends dress
Their both dumb
@@anon7661 Was definitely getting that vibe...
@@anon7661 I got a vibe that he has a boyfriend
They are paying for a storage unit, yet they have 3 acres.. so why not just get a yard shack and pay nothing??
I think they don't think
But then they won't get the manager discount every month, looooool
Or even better, get a shed big enough that they can rent out some space to a friend
@@rjkbuny😂😂😂
They'd probably put it on a credit card instead of saving up for it.
You know you're in for a good episode when there are chapters called "their finances are a riddle" and "they hate facts"
plus the bonus chapter in every episode called "what is happening?" lol
Personally I really like “they can’t think”
Lmao I didn’t even notice those titles 💀
Before he rents out that slide he better get an ironclad liability release or insurance policy on it. He's gonna rent it out, a kid will get hurt and the parents will sue him into bankruptcy.
I was skeptical of why Caleb always said Dave Ramsey doesn’t recommend consolidation - this girl just proved his point 😬 thinking she “paid them off” when she very much has not
Debt consolidation saved me. I went from paying 29 percent and barely making a dent in my debt to 3 percent and Ill have it paid off in a couple months
@@cortneym6901using debt consolidation to get a lower APR while not taking on more debt is one thing and it's fine if you follow the "while not taking on more debt" part. What OP and Dave Ramsey are talking about is when people do debt consolidation, think "Oh, I paid off all these credit cards so I can start using them again and build up a new balance," and end up having maxed out/high balance credit cards again ON TOP of the previous debt consolidation loan.
Consolidation is death for MOST people. It can be helpful for some but people without the right mindset or willingness to do better will ALWAYS fail.
@@FRESCO_KUN I think the mindset is the key thing here in any situation. You have to want out and stay dedicated for sure
It's because debt consolidation only works if you have the right mindset but a lot of people just rack up the debt all again
This guy is shady AF. I think he’s cheating on her and lying about the washing machine money and the cash apps. He keeps looking over at her trying to see her reaction to things.
Seemed more like he was looking over for reassurance. Its either scripted or he really doesn't understand.
It's worse, they're both idiots 😂🤣
@unisonosc1617 i dont think its scripted tbh
@@SiikPros that’s possible! He could just be really dumb.
And the dresses he apparently got for his mother for the wedding.
His obsession with "the monthly payment" is borderline psychosis.
He's the kind of guy who gets an 84 month car loan because "it lowers the payments".
He buys supplemental life insurance because it's "only pennies a day".
Bro has not had a thought since kindergarten.
TBF, when you make $25k a year, monthly payment dominates all else. Dude just shouldn't be entering into debt obligations, full stop.
Uhh, what's wrong with supplemental life insurance?
I don’t think anything is wrong with supplemental. I have life insurance through work, supplemental on top of it and a separate term life policy with no issue.
"Just look up house on bricks" 😂😂😂😂 i nearly choked 😂😂😂😂
He huffed, and he puffed, and he blew the framed house on bricks down
😂😂😂😂
Bruh 😭
Haha spat me tea out on that one cheers from Dublin Ireland 🇮🇪
He keeps talking percentages with these two. It is very clear they don’t understand. He had to learn how to translate percentages to certain people. They literally don’t understand
They just don’t get numbers at all, money is an illusion to them. You think it’s gonna matter whether he tells them 30% APR or you pay an additional $30 more for every $100 of debts
Yeah, it wasn't until he got to the end and said it would take 62 years to pay off their debt that it looked like *maybe* they were starting to get it. But I would have driven home the point that that's 62 years *if* they don't use their credit cards ever again, which they were not planning to stop.
8:53 between the dirt and the house there’s bricks.
Too many levels true my guy gravity
my family doesn't understand percentages, they understand when I put it in a number.
I often get "what's percentage of number" thrown at me.
Caleb needs to present how much will be paid by the end of the loan, if only paying the minimum - not everyone understands percentages.
It's so heartbreaking to see the way that Caleb cares SO MUCH MORE about his guests' situation than they do while they're the ones who are LIVING it!
Exactly!
Thats what makes it entertaining.
They don't understand it. Regulations are too weak. You can't expect every person to be smart enough in this specific topic (maths/finances). A huge amount of the country is functionally illiterate.
Remember when the teacher would make the class read a passage out loud and it was miserable because of the kids that took forever? It wasn't because of nerves.
Visa and MasterCard take advantage of people.
These people don't understand basic math. Caleb, bless him, was using words they didn't understand on top of numbers they also don't understand.
He needs a big white board innhis studio and to use like a red marker on the board to show them how much 22% interest will cost them this year alone. He needs to add that to the debt, then show them next year and keep going across several years. He also needs to shownthem the interest in the remainjng stuff and how the non-mortgage mortgage is hosing them. they are 1 broken leg from homeless while homie is sitting on over $20k in toys he refuses to sell at now 22% interest on the motorcycle.
Caleb should also make up little picture papers to represent their debts and put them in a pile. The. He needs to ask them to remove the ones they ACTIALLY paid off with the $20k loan. When they touch any, smack theur fingers, put them back in the pile, and dump a new paper that reads 22% interest into the pile.
People like this need to SEE physical representation of their bad choices. They never left the concrete or pictorial stages of learning in terms of maths. They cannot handle anything abstract. Talking to tjem with terms and numbers doesn't work. Heck a pie chart won't work. They need manipulatives.
I wish Caleb would work with a good fundamental maths instructor who also writes curriculum at the 5th grade level to make up manipulatives and quick exercises he can do in person with guests when it's apparent a guest is nodding but no one is home. Once numbers and words start flying, people exit reality and basically become a "free" giveaway baseball bobble head (at 39% interest). @@Rspsand07
Yeah, that's the business model of the channel, lol. Care way too much, more than the guests. Makes the show worth a watch.
Honeymoon trip to Financial Audit is such a great move
Could see right away she thought she was driving illegally without car insurance until her husband said he put her on his insurance. They have zero idea what the other person is doing with their money.
It amazes me how many couples have never had financial conversations before getting married and then wonder why they are so disjointed while married
It's the number 1 thing I want to talk about on the first dang date 😂 I wait a bit though. Not going to even get engaged with someone who isn't financially on the same page.
I started a new relationship and we talked about debt the first night and what we wanted out of life haha, it was incredibly sexy 😂 neither of us have debt except his mortgage and we have decided to start a life together
What would they talk about? They're both idiots
Plenty of folks have demands or expectations financially, but they never discuss habits, priorities, etc. They may expect a partner make X amount, but pay no attention to how it's used.
@@talyahr3302 I feel like if you’re dating with the intention of getting married or just partnering up longterm, you 1000% need to talk about finances, future goals, and family planning from the jump. Because why risk wasting your time dating someone who might not be on the same page? Way too many people focus on minor and superficial things when talking about compatibility but will completely leave out finances and major life decisions out of the equation. Like idgaf what movies you like or if you prefer dogs to cats. I want to know how responsible you are and if your future goals align with mine so that I know how well you fit into my life.
This is like the my 600 pound life of finance. Anytime you are having a rough day, an episode is sure to make you feel amazing 🤣
Do you watch Sean of Steal? Check him out.
@@xoxoEllieECoI watch him! He’s good. Still trying to figure out how he gets away with basically showing the entire episode, but I appreciate the heck out of him as a cord cutter!
600 pound life is even funnier tho
This is a great comment 😂
Lol
This episode really gave me that wake up all I needed, what they did is so scary I didn’t think about APR and how and how bad it is. taking those courses ASAP
It gets me every time when Caleb tells the guests to sell "X" cause it will save them money cause they can't afford it, and they are like "Na I can't get rid of it cause I love it, I won't make sacrifices". Like bro, why are you even on the show then if you aren't going or willing to make sacrifices?
I have been in the recovery community for years now and it's the same thing with a lot of folks in early recovery. Dudes won't cut ties with the same cousin or brother that has kept em in trouble their whole lives cuz "that's family" but the same mfrs wouldn't put a little money on your books when you were locked up. If you want different do different. It sucks realizing you have been taught survival and now it's time to learn to actually live but if you really wanna move forward it takes that sacrifice and willingness.
He could literally buy a brand new bike in a few years with *just* the money they'd be saving on interest payments. Faster if they use their monthly surplus.
The wildest thing is that there was a car that wasn't a daily driver, a "weekend" motorcycle, an ATV, and a dirt bike. All toys that would only be used on weekends. You literally can't use all these things. Even if having that weekend activity was critical to your quality of life... Fine choose one sell the others. It's just wild.
@joeydurant6267 proud of you
I wish I had stuff to sell to get rid of debt
I would have NEVER married my husband if he got us into 120k of debt and moved me into a trailer
Edit: bless their hearts they are both that dumb
They found each other
I think the word we all are looking for is Manufactured Home.
I still can't find an image of what their house is supposed to be. "Frame house" "on bricks"? Pretty sure they were sold a mobile home with brick skirting.
@@stanton7847 the person who sold him that land is laughing all the way to the fkn bank. He's probably like "this idiot didn't even go home to think about it and talk to his wife, he just signed the papers right there!" 😂
@@foxorian it's pretty common in that area. Go to Zillow in mission Texas. They have one for under 100k. It will give an idea.
The 28 year old says he’s 20… the first number he has to say and he gets it wrong. This is gonna be 🔥
Caught that too😂
can't blame him. i wish i was 20.😅
I was going to say…if he was actually 20, they were dating for 4 years before marriage so if that was the case, she was dating a minor as an adult
I think he was just mumbling.
That threw me off! 28 makes more sense lol
When the guy kept saying "I'd just buy another bike" What Caleb should have said is "Yes, once you've paid off all your debt, save up and buy another motorbike in CASH"! It really is that simple.
I’m glad that Caleb talked about this because my boyfriend and I of 2 years talk about finances a lot, and it freaked our families out and they said things like “well you guys aren’t there yet”. And our response was “yeah, and neither of us want to be blindsided when we do get there” 💀 talking is healthy
Same, we always talked about our finances and budgeted together, and we're so much farther ahead for it. If you can talk about it before marriage, it's just second nature afterwards.
It's so important. Before marriage you have to talk about having kids and how many, politics, money, religion, career aspirations, where will we live, one or both running the finances. There could be some massive deal breakers hidden in there
Same!
The people that criticize are the ones that end up fighting because their spouse hides money, spends recklessly, doesn’t pay bills on time, has terrible credit, etc. Good on you for having those conversations because your partner’s finances will 100% affect you if you get married (even if you don’t combine your accounts) or so much as move in together. It blows my mind how people don’t have these conversations all while knowing that finances are a major reason why couples divorce.
Not talking about money is like when people don’t talk to their partner about having kids in the future and then act all hurt and blindsided when they’re deep into the relationship and realize that they’re not on the same page. Way too many people don’t factor in family planning or finances when determining compatibility and it’s so insane to me.
Every week I am blown away by another full grown adult. These people are allowed to have kids, open credit cards, and vote and stuff 😩
Have pets and own guns too but can't have an abortion
Only to make it worse is that all these people have the same say in voting
I think this is how the 1% want us though.
Well, that’s what happens when you amend the constitution to such a degree that it no longer functions properly 🤷♀️
And we still have idiot adults voting for Biden 2024 😢
YOU know we love our couples audits!!
Same!
My body is SOOO ready
I think I’m still recovering from Mrs green lips 👄
@@cberg8101 💚🥒
These are the best episodes imo
Credit card companies must watch this video whenever they need a pick me up.
“So we can buy the things we can’t afford” BROOOO 💀💀💀
😂😂😂😂😂
If you can’t afford it ,don’t buy it 😭😭😭
That’s honestly not the worst line from this episode… the paying off a 0% card with a 21% personal loan is insane.
This is how my sister’s boyfriend thinks 😂
@@Sniperboy5551 I don’t understand how someone can think it’s a good idea
This is wild.
$1,500 a month for 30 years on a $120,000 propery is $540,000!!!!
Caleb needs to tell these people WHAT THEY WILL ACTUALLY PAY vs what they bought it for.
People just don't get the maths or even think about how the maths works.
They just see 1.5k a month.
The (1.5k*12)*30 doesn't exist to them.
Did you hear him say it doesn't go toward the principal??? I'm surprised the finance guy didn't question him and clarify what the guy said😂
It does sound crazy but it depends if that’s the total payment with property taxes and insurance.
Insurance went up a lot for the south this year. We expecting quite a few major storms.
@@destinyl8813 He said he hadn't gotten insurance yet, lol, so he's in for a treat if that's the case
By the time that brick house is even worth that much they’ll be dead and stinkin🤦🏽♀️
Don’t have kids with this dude unless u wanna live in poverty
I'm surprised these dumbasses don't already have fuk trophies
Neither one of them seem to understand math, especially compound interest.
She could divorce and get a fat child support check. He'll get fucked, not her.
They are already in poverty
Loved it when they tried to make a trailer single wide sound like an actual house... It's still a trailer lol
Framed house is crazy way to call a mobile/trailer home 💀💀
I think they meant a pre-fabricated house. It was already framed and delivered to their property and put “up on bricks”.
That ride home is going to be AWKWARD
@@maureenviola
You reeeeally love to argue don’t you
Anyone taking bets on if she calls his mom and asks to see the dresses that her son bought her. Ha ha
The drive home for a lot of these people is several hours long. The car rides home must be SO awkward and uncomfortable 😂
“That’s why we have the credit. So we can buy the things we can’t afford.” At least my man was honest about it
That was ignorance my guy.
if you cannot afford to have a wedding…DO NOT HAVE A WEDDING.
There are so many ways they could've spent less and still had a nice time. Get a free venue. Get your cake from the grocery store. Rent or buy used Tux / Wedding Dress. E invites only so you're not spending for paper invites, envelopes, and stamps.etc. But instead they way overspent. Unreal.
I'm confused how the mom was "paying for the wedding" but then asked them for money for their WEDDING lol. Honestly, they get this ignorance from their parents as well. He's paying his parents bills even though he's poort.. and her mom is asking for money for a wedding (they shouldn't of had) that she PROMISED TO PAY FOR lol. They shouldn't married because they don't even know what each other is doing.. he's sketchy.... but that's a topic for another show...
@@shabrimac1993I think the full story isn't being told about the wedding. What bride doesn't have a say in what happens during her wedding? She probably wanted things her mom didn't want to pay for which led to he paying in or something else happened
You can always have an inexpensive wedding. So many ways to do it!
Or, better idea, don't get married!
Everytime I think about opening another cc I come watch Caleb then my thought goes away
We’re looking for our first house now, I really want a house. HOWEVER, I hate this response that “rent gets you nothing, it’s a waste of money.” You pay a months rent and GET a place to live, a roof over your head, appliances; you GET a life without maintenance, something breaks, just pick up the phone, you GET the flexibility to move within days or weeks if your rent goes up or your have to switch jobs. Don’t believe this LIE that renting is a waste. Renting AND owning BOTH have pros and cons and can be better or worse than specific situations.
Flexibility to move more than owning but keep in mind the usual 12-month leases
You know what they say, when you rent, your monthly rent is the maximum you'll ever have to spend on your home. When you own, your monthly mortgage is the minimum you'll have to spend on your home. When you own the property you're responsible for everything
I've never met a landlord who doesn't include most costs in rent. They charge above the mortgage to cover insurance taxes etc. And the repairs yeah that's just like owning a car those costs are expected and definitely need to be considered if your truly looking at buying for sure, cause unless you have an emergency fund to move in with you could be in real trouble! So renting is amazing shirt term but for financial security in the future it's beneficial to have property, investing in your own future is always better than investing in others @@SuzER08
As a homeowner I tell my friends this all the time, it’s not always rainbows and butterflies, don’t rush into it, enjoy the benefits of renting because homeownership can hit you like a Mack truck if you’re not financially ready
Renting as a young person who’s lost is the only way. Idk wtf I wanna do.. I have no business owning property or having enough income to maintain it if I need to - my apartment is sick I don’t wanna leave lol
Them blankly staring at caleb as he asks am i going to die, is pure comedic gold
22:05 is where the magic happens
As an accountant i find these fascinating and will very much be teaching my daughter as much financial literacy as i can.
Add in a large helping of "Don't marry anyone like this."
watching this high has got to be the most funny thing ever. I can’t even tell if the couple is being serious or not 😭. I feel like they’re just here to look like they’re ignorant, but they’re not.
44:28 bro 😭😭😭😭
45:46 😭😭😭😭💀💀💀
47:45 I can’t 🤣
48:42 sis was not even watching 😭 ight. no more time stamps. This whole episode cannot be real
53:44 bro thought he found the loophole. 😭
2 Minutes earlier, "by renting they are just pocketing what you pay" 2 minutes later " we are paying owner to owner interest of 12 percent to another guy who sold us the land" these people are idiots.
Yea but by renting youll never own it, paying to own at least theyll own it eventually. But i understood what you meant. This couple is definitely lacking upstairs 😂
@@trujillo71921who gives a shit about “owning” when by the end theyre gonna pay 250-300% of the homes value. they got fleeced. they need to sell and rent and invest the difference. they are pissing away most of their money for the sake of “equity”. financially illiterate
@@trujillo71921 exactly then they can take a loan aginst the house to pay off all the credit cards they used to build the house. and keep paying off intrest to some bank for years to come.
@@trujillo71921 They stated that their monthly payment isn't even going towards the principal, so they're literally just renting it lol they'll never own it if their payment doesn't go to principal
@SoulShiina yup that was my mistake. I commented early before I heard that part, so im gonna go ahead and delete that comment 😂. This just got worse and worse as the video went on its dam near unbelievable lol this is insane.
Caleb. You need to show them the difference. 62 years or 3 years if he sells his motorcycle, dirt bike, 4 wheeler, gets a weekend job adding an extra $2k a month, use helium, meal prep to save $100 more a month, she gets a second job making $1000 a month, they get raises at work, etc. paint a picture of what a year of hard work and sacrifice can do. What will their lives look like with no monthly payments, no debt? They can’t see the goal so dont think the sacrifice is worth it.
Good idea - they won’t cuz our welfare system is what they and many others regardless of race, color and/or ethnicity will rely on if shit hits the fan.
Or if she actually uses her MSW, gets a stable government job, gets a SAVE plan, takes advantage of the public service loan forgiveness program, maxes out the pension, and gets a side job....
@@MissMosierablemasters degree for a $60k a year job.
yeah this was lazy. he could have at least tried to convince them. makes the episode feel like a waste
He clearly said MULTIPLE times he wasn't willing to sell his other vehicles. He also didn't want to get another job because he thinks "his side hustle" was enough. There was no getting through to them. Their financial illiteracy is dangerous and I don't think they'll learn until it's too late 😮💨
One day they will have kids, and the kids are going to be the same and say "My parents never showed me how to budget. My parents needed the money for this and that. My parents needed me to move back in so I can help pay for the mortgage." And they just really dont care or understand this.
Totally agree 💯
And they will be poor for their whole lives.
They will end up on Caleb's child's financial audit show. The cycle will continue.
My parents opened a CC or loan in my name. I've heard this a bunch. Could totally see them doing this
@@Ginormous76 Actually, I'd love to see a follow up in about two years to see if these two have decided to grow up.
Dude, I'm so happy you do this show. You're doing this world and the folks on the show a huge favour. Consumer debt is such a problem nowadays, so much so that friends of mine who're not even 30 filed for bankruptcy recently. That. Is. Insane. It's getting out of hand.
They don’t understand what 22 percent is. Caleb, you need to hold their hand and show them how much extra interest they will Bobby paying over the life of the loan. “Losing 22 percent” is far less meaningful than “losing $4500 a year in interest”.
He did and they didn't bat an eye. He said they're losing 3000 to 3500 a year in interest to that consolidation. It's like talking to walls even holding their hands.
@@k20z3keith7No, I really do not think they understood what he was saying at all. Caleb needs a 5th grade math specialist with expertise in curriculum development help him with HOW to explain numbers and these words to people who really do not get it. These people never left the concrete stage of development in theur math reasoning. They're ont foot into the door of the pictorial stage, but they aren't fully there, and they are nowhere near the abstract understanding stage with the math going on with debt finances.
$3000 / year in interest alone almost killed me. Imagine that amount going into a Roth IRA or 529.
Agree. Your clients don’t do the math or understand percentages. Do the calculation for them and to dazzle us.
And they only make 4k ish a month. So that'd be 8% of their income.
Imagine acquiring debt so bad before your 30 that it would take 62 years to pay it off, wow.
They could pay it off in a few months if they made some changes and sold some crap.
@@patrickmcgever2736but even after Caleb states that there still is no Ah-ha or lightbulb.
This girl really messed up getting married to that guy.
He's gonna ruin her.
She's as bad as he is.
@@mikewhitman745 yeah but it seems like she'll be better off financially without him.
@victormeza1664 I thought she chose to put all the zero interest cards into the 22% interest loan? Maybe I'm mixing that up, if that was her call then that might be worse than what he did.
They're perfect for each other. Should stay together forever, God help anyone that dates either in future
@@victormeza1664 both would be better off without the other. They have a net negative effect on each other. Usually they average out but somehow these guys are special and drag each other down.
I remember hearing all the "renting is a waste when you could just buy instead" rhetoric growing up. I'm naturally a skeptical person so I always took it with a grain of salt, and come to find out people only say that because all they do is look at average mortgage prices vs average rent and see that mortgage payments typically aren't that much more than rent. But what they don't understand is there is a ton more that goes into owning a home than renting.
Sure if you look super long term, eventually owning your house rather than renting is better. But we're talking minimum a decade down the line. And if you can't handle financing that long term commitment then renting is much cheaper short term.
I never want to hear the phrase “path forward” ever again, every time he said it I audibly groaned.
I dont think I've ever seen a couple so completely financially illiterate.
Obviously financially illiterate but unfortunately (for them) I think they're just low IQ too
I remember talking to a girl with a 5k loan at 20% interest while she had over 5k on her account. I said pay the loan off now, she said no she likes having 5k in her account. I explained to her how the loan costs 1k per year and she said I know but I like having 5k in my account........same type of person
Yikes
That's scary.
At her rate, actually paying that down and just having a credit card as your emergency fund don't even sound that crazy.
She's right. And I'm anti-debt. If she pays off, the credit can be closed, in that case, how does she pay the doctor's bill or a not expected repair ?
@@gertvanderhorst2890 FML..... nooooo she is not right, you pay the 5k on the CC, keep using it & pay in full Monthly, the CC doesn't get closed & you have a 5k CC as an emergency fund without paying Interest, its really not rocket science