Laughter can be a natural defensive mechanism when facing harsh realities, and knowing what he was going into, let's give some love to Joseph for being willing to air all his finances for entertaining and education purposes for us all, so people know what NOT to do in their own lives! Thanks for being on the show Joseph ❤
Previous BestBuy employee here, progressive leasing is a predatory company. 90% of employees are against it because of how bad it is and it's illegal for bestbuy to offer in some states
I agree with this, I also laugh when talking about stressful situations and people think it’s weird. I try not to do it but it’s hard. At least Joseph is honest about his financial status.
I’m glad you asked him directly instead of assuming or disregarding. It helped shape how you responded and approached the rest of the conversation. You were respectful that he’s a human and responds to situations differently than others. That’s a great thing to see and a wonderful example to set for others.
This guy honestly seems like a really nice person who is just a bit too leisurely for his own good. I think he’s completely capable of turning this ship around with some long term dedication and considerable sacrifice.
Are you serious? He seems "nice" because he's stupid lazy, stupid careless, basically 1 of those stoner bums that lives with 16 roommates on a couch you see in the movies. Literally everything is a joke, PROUD of the "record 580%" loan, and who the f says a 40k job took everything out of me? $17/hr for construction? Clearly the area because that sucks
Same. Just figured my net worth today and built a payoff plan for the three remaining revolving debts I have. Going to actively pursue another active income stream as well as passive. I got into stupid debt early in life and have been chipping away over 20 years. I’m finally less than a year away from being out of debt (excluding mortgage). I’m one position at work away from a six-figure salary and ready to put the back half of my life on track. Moral of the story kids, don’t wait until you’re 40 to get your life in order.
This was literally me 15 years ago. Thinking that my shitty job would carry me thru life. High interest loans were awesome, because I never knew what the end payment would be. I finally woke up, and got out of debt, and paid cash for the things I wanted or needed. It took 10 years, but I got my credit score up to 815. I can buy anything I want, with a great interest rate, but so far, I have not bought a thing. Being in debt is horrible.. Getting out from under the crushing weight of it liberating.
Good for u bro im 25 26 in may and when i was 21 till 24 i fucked up hardd partying drinking all the good stuff didn’t pay shit and now im outta debt cuz of my sales job making 15-27k a month selling cars but workin on my credit, what i did was I bought my sister and lil bro 2 cars 1 each cuz they needed it and put it under my name paying 22% interest on both actually my sisters car now got wrecked so she got a new one last month also under my name for 11 % and kinda using those 2 cars to build my credit up which i have from 520-690 now soo im doing good and i live alone my own condo in downtown Toronto but tryna move back to the suburbs where i grew up and around my parents houses cuz Downtown anywhere especially toronto is crazy expensive im lucky my company pays for my rent which saves me 3200 a month lol I literally only pay 170$ for my demo car insurance for work cuz we get a demo car at my job and the insurance is on me cuz even the car we have to pay for the lease but I argued that when I wanted tonleave for another dealership they told me okay if we pay ur rent to move downtown bucz i lived at home 1.30 hrs away everday id spend 3 hours driving so they were like if we pay ur rent to move downtown and pay for you demo and u just pay for insurance and bump ur commission rate from 24% to 35% will you stay ? I was like yeah i will stay cuz i was offered 33% at another dealership but it was 5 mins from my home at the time and no demo till 6 months working there soo basically my transportation is free including the car and my rent they also pay for my phone and phone bill and internet they also gave me a company credit card to use for my gas theyvgave me 1 full tank a week and to pay for parking when i get to work I literally live for free downtown Toronto which is crazy and make for example based On last month I made 17,540$ for the month BEFORE TAXES AND ACTUALLY TOOK HOME 11,400 smh soo basically tip for getting outta shit FIND A GOOD PAYING JOB!!!!
@@donjohnson1416 understand that when I pay cash, it's usually for small items, under $100. I stopped going out to eat, I did side jobs (in an automotive technician) and saved for the bigger priced items that I wanted. I concentrated on paying off my truck, using credit cards when it gave back 5%, on purchases. Most card don't do that anymore. But, you have to maintain a revolving line of credit, so if I wanted a new air compressor, I'd save the money up for the full amount, use my credit card to buy it, get my 5% back, and use the cash I had saved to make sizeable payments toward the credit card balance. I never carried a balance longer than 2 months, and my credit limit went from $300, to $1200, to $2000, and on and on until they gave me a $15,000 limit. That doesn't mean I can spend $15k, it just means they trust me enough to have it.
I lived with a lot of mental health issues and when I finally was in a good enough spot to find a job, I spent my first year spending basically everything I got. More than everything, considering the credit card usage. I never maxed out a card or overdrew my accounts but things were slim. Come this past fall, I had some dental bills pop up and I had to put them on my credit card because I didn't have the free cash to pay for it. But I'm out from under the credit cards now, I don't have any balances left on them. I'm saving money to buy a car, and to eventually move out of the state I live in. Not gonna be easy of course, but I'm making it happen, and it feels amazing.
@@Rykeron Pay day loans will NEVER cease to exist. They pay MILLIONS for scores of LOBBYISTS in Washington, DC. They OWN the politicians by financing their re-election campaigns. It is disgusting.😡
The saddest part about this whole thing was hearing his "goals" for 50/60. I notice this is common with many younger folks without much vision or forethought. They speak of 20 years into the future as if it's 1 million years away and that somehow by that time they just magically figure everything out. In this young man's mind, it's inevitable that he will be 50/60 years old, rich and retired, and in fantastic shape. The thing is...none of those things are achieved by accident.
Jeeze man, I was addicted to opiates ages 24-30 and spent time being homeless and my finances weren't as screwed up as this guy. Seems like a mental health issue. But in 3 years of fixing my life I've got my credit score from 500s to 700s, paid off all collections and currently saving for my first home so it's not over for this guy, just got a lot of work to do.
By kicking that habit you had to develop new better habits. Congrats. This guy is just floating along assuming that his life won't or can't change. With new habits he will be fine. Just look at how much he struggles to even imagine getting hired as a manager making over 70k
Never thought about it like that. My parents said something similar. Work hard in your teens and 20’s and you won’t struggle as much when you’re older. Fuck around early on, you’ll see how hard life is when you get older.
I have done the payday loans when I was in my 20’s. It is extremely hard to get out of having to do it multiple times. They take so much money from you and you keep staying behind. Once I finally broke free from it by just doing without for a few weeks ( zero spending but bills, ate very little ,, walked instead of drove to save gas,, etc ). I am glad I am not in the situation of using it anymore and I really wish they would go away .
The best part of this channel is it removes a lot of guilt/shame and stigma from finances. Money is morally neutral. ☆ You are not good or bad bc your financial situation. You are not your financial situation. ☆ You are in need of learning financial literacy or behavioral skills but morally neutral…♡︎♡︎♡︎
They tend to ignore the issue and he's making it more visual how bad it actually is. I don't think they understand until he is showing them how bad it really is by his reaction. I think that could actually help them to put it in perspective.
This episode broke my heart - Joseph seems like an earnest guy with a an honest dream. And as you said, that dream isn't even in the same room as the reality right now with those crazy loan amounts and the car situation. Kudos to you for sticking it through and trying to get him to see the light - looked exhausting for both of you. Keep up the great work Caleb, this series is fantastic.
It's real I get stuff in the mail all the time that's says take this loan and we'll give you a 500% interest discount for a year,I always laugh and throw them in the trash
Yeah best buy does no interest for a year of you do minimum payments, but if you miss a payment or don’t pay it within 12 months you get 100% interest then it adds after
i see why you're frustrated but this guy was funny to me. like a cartoon character. he knows he's effing up and he's just meme-ing his way through it. gotta respect the cope
@DrThunder2004 what are you even trying to say? Any company where no one uses the companies product will go out of business. The problem is that these payday loans are, in my opinion, highly predatory and take advantage of one of the most vulnerable groups of people.
Because there's so much DEMAND for it. Each state has their own regulation to what payday loan places can charge. If you feel that extreme about, go to your state legislation. We both know you wont be doing that, so
As a Best Buy employee, I doubt it was the Best Buy Creditcard that charge was on but the laptop was bought through our “partner” Progressive Leasing. They are essentially Rent A Center like pay over time to own loan contracts but they allow you to choose what to buy at BestBuy after being given a large up front spending limit (usually based off income because they will garnish your wages eventually). Very sadly, many customers them see the large amount allowed for them to spend without having to pay that day, and go crazy buying up to the limit as much as they can (since all they have to pay is the tax on the products that day). This is generally what is chosen by customers when they don’t get approved for the BestBuy credit card, which would’ve allowed deferred interest monthly financing for 6 months to 2 years depending on the product over $200 (pre-tax). Personally I dislike the whole practice since you can easily rack up 300% in interest from the principal loan, especially if you don’t call in to their call center and get it into a fixed payment 3 month payment system which is the only feasible way to pay off the progressive leasing loan. It’s a hassle for employees, it leaves customers in a bad position, and as stated here (most likely) it was a loan from “Best Buy.” Personally I wish we stopped doing it. A store credit card is one thing, facilitating loans like that is a completely different other thing.
I really needed this kind of talk when I was in my mid-20s. You’re really helping the people on your channel by helping them come to terms with their poor financial choices.
I feel for this guy. When I grew up in the 80s there were caps on what lenders could charge. Bank said NO if you didn't qualify and "alternative financing" loan sharking was something the mafia did. The financial uninformed couldn't dig themselves into a hole like today. There was still some honor in lending. These days they'll use kidneys as collateral to sell you a dining room set and nobody thinks that's a problem. Everything got so dirty. How do they sell those loans and still look themselves in the mirror?
I'm addicted to this series! I know it's newer but it would be awesome to see some updates on folks in a few months or a year to see how they are doing
@@CalebHammer Please do follow-ups… even if it's one episode and it’s just you doing a VO with what you know about their progress, if any. Nothing crazy.
People laugh out of embarrassment, it’s normal, it doesn’t require special understanding. People who get mad at embarrassed smiles and laughter are part sociopath
@@M_SCI wish more people understood that. When I used to be a cashier then a Karen was mad that the jeans she wanted didn’t ring up on sale or whatever and needed a manager and while we were waiting she kept complaining and there were so many people waiting in line and I laughed out of awkwardness and she was sarcastic towards me about it and it made me further embarrassed.
When your dreams don't require having money and being financially stable (i.e. working at a mom-and-pop retro store and throwing down as the oldest dude at a metal show and waking up the next day hungover), no amount of financial advice will make that person change. Their goals do not require being financially stable so all this seems like is sacrifice for something they aren't actually motivated for.
I can tell he wants to better himself, and that the laughing is a cope... but I believe he's got to move past the "everything is a meme" mentality to actually begin tackling the issues. Lots of respect for him coming on to air out his financial issues so ppl can learn from his mistakes. Hope he takes action!
Did you comment this before you watched the whole video. This man is lazy, he classifies he has execution disfunction. Man has no discipline. I’d tend to agree with you if he was early 20’s but this is a 30 yr old grown ass man that needs to grow up like yesterday.
@@joykonkel1347 Nothing you've said here contradicts with anything I said. Lazy, yes. But I don't think he would come on here if he didn't want to better himself.
“Money isn’t even real at the end of the day. “ Like yeah. It’s not real in a very zoomed out general philosophical perspective. But because the vast majority of the world believes in the power of money, it’s real. That’s it. You’re not gonna change it just cuz you don’t believe it if everyone else in every society believes in money. “Money is just a concept” when applied to real life is stupidity.
You know what I would love to see is if for a few of these people you could re-audit them quarterly and we could see how they do and if they follow the advice. I think it could be really neat to see them turn their financial life around.
Pleeeease definitely do a follow up with this guy. I'm so interested to see where life takes him and if he actually takes your advice to heart, even if it's not what he'd prefer to do.
Absolutely obsessed with these financial audits Caleb! Keep up the grind! I like comparing these against how my wife and I are doing, would like to see more parents on here to see how they budget, as we have a 1 year old.
This guy is the most genuine person you’ve interviewed so far. His honestly is refreshing. He knows and said he’s living life on hard mode. I hope your fury on payday loans was well received and resonates for him moving forward. Predatory lending should be illegal.
Strongly recommend, its hard to explain the level of relief you have, when you have one. If you also have your debts paid off, it's basically double rainbows.
Don’t feel stupid! I’m 33 and I’m still building mine! It is such a relief to have money set aside. I set a fixed percentage for myself and save that amount every paycheck. Time flies fast and it’s rewarding seeing the money grow!
he wants to do what? at 40 have enough in his portfolio to cover health care, while payin off that amount of debt, which is steadily increasing through interest by earning 30k in an expensive city? at 50-60 retire? hell naw dogg - get a new job earning 80-90k - live like a total bum and then you get there lol
This nice man is beyond stressed, already getting grey hairs at 31 years old. He got taken to the cleaners on those payday loans. I hope he turns things around and wins
When you said, “This nice man is beyond stressed”, I thought you were talking about the adviser. The dude himself is not stressed, he’s been slacking, eating out daily, not taking anything seriously and complaining about every job that expects him to work. The immaturity is astounding.
This got to the point where it just wasn’t EVEN funny anymore to see this man laugh over his serious financial struggles, I hope he listens to you Caleb. Thank you for starting this channel it’s extremely helpful and eye opening. 😊
Agreed, there is definitely something wrong with his upbringing. I'm sorry but I'm just gonna say it that he's a straight loser. He badly needs some of that Jordan Peterson talk. This looks to me like a guy with daddy issues (no father figure present). He needs to be told and yelled at to get your SHIT straight son.
Yeah, I think a little nervous laughter is ok but this guy was on another level of denial. His credit score is one of the lowest I've ever personally seen and it's because he's completely fine with defaulting on debt *repeatedly*. It's painful to watch, honestly.
The guy needs to get serious about life, he has the maturity of a teenager. Too many people that show up on this series are too busy chasing dreams instead of being realistic about their options. Not to mention they refuse to sacrifice their happiness in order to make their dreams happen
I'm really rooting for this guy, I hope he gets a manager position, even if he's line tell your boss you're eager to progress the ladder people are willing to pay for workers. Could you put a running total in the empty space of the screen? kind of like a spread sheet (depending if you have the time sending them away with a spread sheet themselves is sometimes helpful)
This one showed just how much you actually care about the guests coming on! I genuinely love how passionate you are, I hope it really resonates with the guests, because you are completely spot on. I used to be exactly where he is, if not worse, and I am SO happy to be on the other side of it now with NO MORE DEBT at all. 🙏🏾 This guy seems like a nice guy as well, I really hope he manages to get on top of this, and starts learning about personal finance management.
Caleb you're the MVP always asking these Austinites how they have cheap rent, cuz that is my first damn question whenever they say they pay $600! Keep these up, I'm on my own financial journey here in San Antonio and these motivate the shit out of me to keep grinding it out!
I paid $750 in NYC. Granted that was 10 years ago but that doesn’t sound impossible if you have roommates. $750 in 2010 appears to be around $1k in today’s dollars.
I applaud Caleb for not throwing him out. Can't imagine how frustrating it is to have someone "yes but" everything you say when they're coming to you for your help and expertise. I could go on and on about how frustrating this was for me but you gave him a great opportunity to help himself. I hope for his sake he listens.
I didn’t get that vibe from him, he seemed to recognize he messed up. He just has an odd way of coping. However he did seem lazy when Caleb said work 80-90 hours
I’m finally debt free at 30. It definitely is a huge weight lifted. I do feel upset at myself at how much money I wasted on financing stupid shit. Never again will I go down that road
@@manygatos885 yep. They're illegal in Georgia. I skipped out on one years ago and never heard anything else about it once I told them I wasn't paying because I had already repaid more than the principal. They can shove the interest up their a**. That was the end of the payday loan.
i legit dont know how someone has the heart to give out those loans to people. i was asked to work a job at an auto dealership that focuses on predatory loans. it offered over 100k and i just couldnt stomach giving out those types of loans day after day.
This video format is great, and the length is perfect. It really helps us viewers take a step back and look at all of the financial mistakes we keep making. Props to Joseph for agreeing to do this. He seems like he would be such a cool guy to hang out with. Unfortunately, without setting measurable goals or being realistic about income I don’t think anything is going to change for him. I hope it does though.
Yep. You could take all the money in the world, divide it equally between all human beings, and in six months, there’d be abject poverty and multi-millionaires. That’s why “equity” never works. It doesn’t take human nature into account, it denies reality. But reality always wins.
I've played 0 games of Lottery and I have no intention. Isn't the lottery called the poor tax? It's tax money and earnings from the lottery that gets funneled into a few people.
I love that I get ads for a local "bad credit/no credit needed" car dealerships while watching a series that highlights the bad decisions many make at such places. 10/10 video BTW - Laughing in the face of hardship shows strength. It may not highlight the best past decisions, but it shows the ability to recognize the problem while protecting motivation from shutting off from fear and/or stress pressures. It's what got me through high school and the next decade after! Joseph has strength. He just needs some more self discipline. Joseph, if you read this, just know I'm cheering you on!
@@CalebHammer Yeah! the irony is striking for sure! It's 90% cash advance / bad credit car lots / join my program to make money ads and then a random electric Cadillac ads for the last 10% - LMAO
Genuinely seems like a guy I'd wanna hang out with. Super light hearted. Hope he's able to buckle down and clean this up. He'll be unstoppable once he does.
When I was in addictive addiction I could care less about the interest rate, it could have been 10000% and I still would have taken tht 100-200$. Looking back though, incredibly stupid and can’t imagine how anyone would take it but they’re called predictors loans for a reason. Most people don’t want to take these loans but are in situation where they have no choice. This guy just seems a little stupid imo tho
I bought a Jeep off someone to clear the payday loan they had 500 on it and it broke down and some issues. I had intentions to flip. They made a minimum 108 payment on it 107.67 went to interest and .33 went to payment. Then the next month they were late and didn’t make the 108 payment so it went up above the original balance by $80 so I paid $580 I was able to fix the Jeep myself in parts alone for $200 (not counting my labor) and I put 4 new cheaper tires on it and detailed it nice and added a working aftermarket JVC stereo and 4 JVC speakers. The remote locking was junk so I added a viper alarm and tired that to the locking as a replacement remote. I had the viper system and had bought it used for $50 the stereo kit was crutchfield JVC kit think like just shy 150. Want to say tires were $300. So 700 plus 580 invested. So let’s say 1500 invested with incidentals like rug shampoo and decals and registration fees as it was also expired and late registration. I sold it for $3500 EASY first person to see it. Cleared 2k for let’s say I had 8 hours into repairs, upgrades, cleaning time. As it sold so fast and easy. I like buying things from desperate people.
The payday place was glad to have me buy it and pay off the title loan on the Jeep as they knew it was broken and for professional repair they would had to put into it would not worked. As I say was $200 in parts and maybe 3 hours so a shop rate probably 1500 plus they knew it needed cleaning and had a bad stereo. They saw it as going to scrapyard and a loss on the original 500. They knew it made no sense to fix it and selling a broken unregistered Jeep with flat tires. Hahah. Honestly I got the 3500 as i shampoo everything seats and floor and clean nice. I did a full buff and then a good wax. It looked really nice and fresh. That makes a car stand out to shine in the sun have fresh tires and smell like new inside. Those don’t cost much just hours of time. It’s amazing what a set of buffer cutting pads and some dent pullers can do. Long as no crash. Even some chips in paint you can fill in and buff down with a coat of wax it’s sweet. Chrome is easy to shine and you can sand the headlights and tail lamps with super fine wet sand so they are clear and new looking.
He could absolutely land at least an assistant manager position at a fast food place making at least $20k more than he is now. Believe in yourself, my guy!!!
You can't be an assistant manager when you don't believe money is real and take everything as a joke. Usually the assistant manager deals with all the employees day to day, and this guy is entirely too nice to manage a bunch of fast food employees.
I just became financially independent at a uh, later age in life. This channel came just at the right time, I am a naturally frugal person and am adverse to taking on debt but now I track every penny I spend and look forward to seeing how much I can save and the goals I can work toward. The thought of having to put down a McChicken under my expenses keeps me driving past the drive-thru home to that cheaper and more nutritious home cooked meal!
This is a good example of how predatory payday loans are. I’ve never heard of those types of interest rates before. They suck people in when they are at their lowest point and take full advantage of their despair. There should be more limits around their maximum interest (in my state there are limits). What I’m even more shocked about is his unwillingness to really take any advice that was given. This is really a desperate situation and I know he was laughing to cope, but at the end I’m not sure he quite understood how dire his situation actually is.
Buy here pay here places, payday loans, furniture stores and many other places that make a lot of money off essentials that people need. They are designed to keep you paying and really hurt people with lower incomes.
Every now and then I came back to watch Joseph’s videos, it really keeps me motivated not to make the same mistakes as him. It’s very frustrating to see him giggle and make jokes while Caleb is trying his best to improve Joseph’s life. I hope Joseph rewatches these and try’s to actually work hard and get out of this financial mess he’s made.
The worst part is this guy has an excuse for everything. That usually indicates that someone still doesn't quite accept the urgency of the need to change.
Mannn, good luck Joseph! I was hurting for this guy because he seems like a person with good intentions. Payday loans are bottomless pits of financial disasters and it’s hard to get out of them without a solid plan. I really do wish him the best!
Money is one of the biggest sources of anxiety and stress for most Americans. When you finally get your finances under control, you will see how your life turns around 🙌
Joseph seems like a great guy and sounds like he’s a great friend too. It’s hard to see that even if he was willing to sacrifice right now by getting a better job, he wouldn’t because he wants his friend to get the referral bonus. His retirement goals are great because he doesn’t have to retire rich, but I agree he won’t be able to retire at all without sacrificing now.
wow this episode is straddling the line between a financial issue and a mentality issue, shows the dangers of an instant gratification mentality vs. thinking about short term sacrifices for long term gains
@@andrew8168 He is not healthy. Willing to bet he has heart disease. He needs to go on a keto/carnivore diet, no booze, no SODA. Then exercise 3-5 times a week. Within a month or so he would not be craving ‘breaks’.🤦🏽♂
@@davisholman8149 up to 1.5 hours exercise, but 1 hour brisk walk 30 min each wAY OR EVEN 30 min a day of brisk walk and when slim running. keto. steak and butter. a little non sweet veggies. salad leafs. boom. half a year. chaching.
Halfway? Are you planning on dying at 60 years old? 30 is more like 1/3 of your life not even taking into account modern medicine advancement in the future.
Aw Caleb I love how honest you are with people! A lot of people will deflect with laughter and jokes, but sometimes cutting to the chase and calling the bull is the best thing you can do for them. And you’re still super empathetic and helpful at the same time. Really great job ♥️ you’re helping so many people 💸
I saw you commented that he's a goofball, and that's a perfect description. I think he'll have a wake-up call at some point. A lot of his takes like "insurance is a scam" and "money is fake" seem like he's partially in denial about these things
I know some people that also say this. Denial is an accurate word. Denial that they live on a world where they are responsible for themselves. Denial of the horror that is socialist utopia. Denial that ignoring their financial responsibility will result in no control over their lives
He's not wrong but that's not a rational response to get a 500% loan maybe don't buy a car or move to new Hampshire where no insurance or maybe buy some "real money" not on credit
Love the channel and just subscribed. This guy is dense. Not willing to up his income as you suggested because he’s more worried about his friend getting their recruiting bonus over his own livelihood and being attached to a car that’s hanging him tells a lot of his mentality regarding his situation
This conversation was so adorable, if you ignore the bad financial decisions. I could see how much you fed into his jokes and it was so fun to watch this convo.
I cant believe its legal to charge almost 600% interest rate. Does Texas not have a cap on the interest rate on payday loans like some states? Not sure why the individuals insurance that hit him while he was riding his bike didn’t cover the hospital bill unless it was a hit and run.
It’s not interest strictly speaking but fees. Say, I lend you 1000 dollars for one week. And there is a $25 plus nine percent fee and a 20 percent APR interest rate. So, at the end of the first week you owe $$1130. You have to pay the fees and interest but can roll over to a technically new $1000 loan for one more week. If you did that for a year, you would pay $6000 in fees and interest at the equivalent of 600 percent per year. But technically the interest rate is “only” 20 percent APR with processing fees.
its Texas, gotta defer to the free market, if the loan sharks can make huge profit by charging absurd fees then its socialist to stop it. The state gov the same mindset here in arizona....
I know a girl that takes out payday loans all the time. She has like $3000 total at over 30%. I've thought about paying them all off and charging her 8%. Problem is, she won't see this is a solution to her debt. But as an opportunity to screw me over.
Of course Best Buy would give someone a loan like that. They were trying to get as much money as possible out of the one person in the last 20 years that would sign for one through them.
As someone who worked at best buy for almost 3 years. He didnt get aproved for the credit card so they did progresive leasing. I hate progresive leasing, i never offered it to people.
@@roselyntyson559 Progressive leasing isnt Best Buy, its a different option to purchase you item. When i worked at best buy i never offered it becuase it was really bad.
I just texted this video to my friends. I love when Caleb gets “dad sad” and people try to make him feel better by promising to pay their s*it back lol 🎉🎉 “I’ll pay it right NOW!”. Beautiful !!!
This was my first caleb video. I’m watching it back now with so much nostalgia because of where i am now. I related to this man so much. Even if i didn’t do the same exact things. Keep moving forward yall. Abundance is coming. (I’m not there but gosh darn do i feel it)
This was the hardest to watch because of the self deprecating copium. I hope he'll find the willpower/motivation to make the big changes like getting a better job rather than these small short term bandaid fixes like eating out less. I also hope he learns to see how much more you'll pay long term getting stuff now with a loan rather than just saving up to buy outright.
I think I understand this man. He is a gentle, kind man. He has many friends. People laugh more when they are with him. The conversation gets better when they are with him. But he goes home and he doesn’t know who he is.
This is why financial literacy should be taught in school. These places are robbing him because he can’t do the math nor plan for his future. He lives in fantasy land. He has not done the work to live the life he’s imaging. Remember he’s 31. He has 29 years to save a portfolio big enough to live off of. It’s grind and save time.
I agree when I was in HS economics was a required class but we weren’t taught real life financial scenarios and how to get ourselves out of debt, how loans affect us long term. I think all schools should have an adulting success class. That teaches what a w-2 is, pros and cons of credit cards, how to build emergency savings, how to live beneath your means, how to file taxes etc.
This guy is very different than most people on here. He is very aware and organized with his money, but still makes bad decisions. His intelligence actually makes it more frustrating. Best of luck!
I was doing my budget for May today and every time I saw a ubereats charge I heard Caleb’s voice. All these charges were in April and for the last one week (since I started watching this channel) I haven’t even dared to open that app.
I really prefer no music in the background, good editing choice! Obsessed with these because it gives me a bit of peace of mind that I’m actually not living beyond my means and doing pretty okay, and everyone’s learning including me 🙏
Laughter can be a natural defensive mechanism when facing harsh realities, and knowing what he was going into, let's give some love to Joseph for being willing to air all his finances for entertaining and education purposes for us all, so people know what NOT to do in their own lives! Thanks for being on the show Joseph ❤
You’re so emotionally intelligent and just an amazing human. We appreciate you Caleb! I love your videos! Great job!
Previous BestBuy employee here, progressive leasing is a predatory company. 90% of employees are against it because of how bad it is and it's illegal for bestbuy to offer in some states
I agree with this, I also laugh when talking about stressful situations and people think it’s weird. I try not to do it but it’s hard. At least Joseph is honest about his financial status.
I’m glad you asked him directly instead of assuming or disregarding. It helped shape how you responded and approached the rest of the conversation. You were respectful that he’s a human and responds to situations differently than others. That’s a great thing to see and a wonderful example to set for others.
Props to him for sharing, that's a big step
Every time I watch this channel I transfer $1K to my emergency fund out of pure fear.
🤣🤣
Fr me too bro lmaoooo😂
@@CalebHammer how does one start an emergency fund? Through a bank , or does one just put money aside?
@@hdlr0033 I put money aside in a savings account with no card attached so that it adds a step of consideration before using (must be an emergency)
@@hdlr0033 put it aside. Should be able to cover a 2k problem should it ever arise.
This guy honestly seems like a really nice person who is just a bit too leisurely for his own good. I think he’s completely capable of turning this ship around with some long term dedication and considerable sacrifice.
Agreed :)
That won’t happen. With his lackadaisical attitude about EVERYTHING, he’s just not living in reality. He isn’t ready to grow up.
@@OroborOSX11 Bit pessimistic. I’ve seen plenty of people like this who got their finances fixed within a couple years so…
He’s such a vibe😂
Are you serious? He seems "nice" because he's stupid lazy, stupid careless, basically 1 of those stoner bums that lives with 16 roommates on a couch you see in the movies. Literally everything is a joke, PROUD of the "record 580%" loan, and who the f says a 40k job took everything out of me? $17/hr for construction? Clearly the area because that sucks
This channel has lit a fire under me. I have done so much in the last week to get my finances in order and cut back on expenses.
Same. Just figured my net worth today and built a payoff plan for the three remaining revolving debts I have. Going to actively pursue another active income stream as well as passive. I got into stupid debt early in life and have been chipping away over 20 years. I’m finally less than a year away from being out of debt (excluding mortgage). I’m one position at work away from a six-figure salary and ready to put the back half of my life on track.
Moral of the story kids, don’t wait until you’re 40 to get your life in order.
SAAAME
Same, made me realize how bad I was nickel and diming my self and really making my future more difficult
Same I’ve got my monthly expenses down by hundreds (outside of food) but also started meal prepping and started an emergency fund.
Just came here to say SAME 👆🏽 like everyone else
This was literally me 15 years ago. Thinking that my shitty job would carry me thru life. High interest loans were awesome, because I never knew what the end payment would be. I finally woke up, and got out of debt, and paid cash for the things I wanted or needed. It took 10 years, but I got my credit score up to 815. I can buy anything I want, with a great interest rate, but so far, I have not bought a thing. Being in debt is horrible.. Getting out from under the crushing weight of it liberating.
Good for u bro im 25 26 in may and when i was 21 till 24 i fucked up hardd partying drinking all the good stuff didn’t pay shit and now im outta debt cuz of my sales job making 15-27k a month selling cars but workin on my credit, what i did was I bought my sister and lil bro 2 cars 1 each cuz they needed it and put it under my name paying 22% interest on both actually my sisters car now got wrecked so she got a new one last month also under my name for 11 % and kinda using those 2 cars to build my credit up which i have from 520-690 now soo im doing good and i live alone my own condo in downtown Toronto but tryna move back to the suburbs where i grew up and around my parents houses cuz Downtown anywhere especially toronto is crazy expensive im lucky my company pays for my rent which saves me 3200 a month lol I literally only pay 170$ for my demo car insurance for work cuz we get a demo car at my job and the insurance is on me cuz even the car we have to pay for the lease but I argued that when I wanted tonleave for another dealership they told me okay if we pay ur rent to move downtown bucz i lived at home 1.30 hrs away everday id spend 3 hours driving so they were like if we pay ur rent to move downtown and pay for you demo and u just pay for insurance and bump ur commission rate from 24% to 35% will you stay ? I was like yeah i will stay cuz i was offered 33% at another dealership but it was 5 mins from my home at the time and no demo till 6 months working there soo basically my transportation is free including the car and my rent they also pay for my phone and phone bill and internet they also gave me a company credit card to use for my gas theyvgave me 1 full tank a week and to pay for parking when i get to work I literally live for free downtown Toronto which is crazy and make for example based On last month I made 17,540$ for the month BEFORE TAXES AND ACTUALLY TOOK HOME 11,400 smh soo basically tip for getting outta shit FIND A GOOD PAYING JOB!!!!
Wow, way to rescue your own self from the brink of a ruined life--respect!
If you paid cash for things how did you build your credit? And why would you get out of debt just to use debt again "building credit"? lol
@@donjohnson1416 understand that when I pay cash, it's usually for small items, under $100. I stopped going out to eat, I did side jobs (in an automotive technician) and saved for the bigger priced items that I wanted. I concentrated on paying off my truck, using credit cards when it gave back 5%, on purchases. Most card don't do that anymore. But, you have to maintain a revolving line of credit, so if I wanted a new air compressor, I'd save the money up for the full amount, use my credit card to buy it, get my 5% back, and use the cash I had saved to make sizeable payments toward the credit card balance. I never carried a balance longer than 2 months, and my credit limit went from $300, to $1200, to $2000, and on and on until they gave me a $15,000 limit. That doesn't mean I can spend $15k, it just means they trust me enough to have it.
I lived with a lot of mental health issues and when I finally was in a good enough spot to find a job, I spent my first year spending basically everything I got. More than everything, considering the credit card usage. I never maxed out a card or overdrew my accounts but things were slim.
Come this past fall, I had some dental bills pop up and I had to put them on my credit card because I didn't have the free cash to pay for it. But I'm out from under the credit cards now, I don't have any balances left on them. I'm saving money to buy a car, and to eventually move out of the state I live in. Not gonna be easy of course, but I'm making it happen, and it feels amazing.
I love Caleb he’s like a financial empath, he feels all the feelings the guest SHOULD be feeling about their finances 😂
That's a GREAT way to describe it!!
Spot on!
Facts!
the guests know the messed up so bad, all the shock has left their body.
The face he makes when he reads the interest rate on his car loan is proof enough lol
I respect everyone who comes onto these videos, it takes a lot to admit you have a financial problem and take the first step.
It does!! They are the best!
they are all stronger than me. I would cry
Or they like the attention.
I’m so glad you made him pay that debt off on the spot. He was being severely taken advantage of. His future, more mature self thanks you.
I really hope so!! I really want him to do well.
Dude is already 31 though. How much maturing time does someone need?
This was just this months pay. He still hasn't payed of the shiny laptop from what I understood
580% interest???? There must not be any laws against such predatory loan. I’ll offer loans at 580% it’s too EZ money
@@Rykeron Pay day loans will NEVER cease to exist. They pay MILLIONS for scores of LOBBYISTS in Washington, DC. They OWN the politicians by financing their re-election campaigns. It is disgusting.😡
That car debt is killer. The car books at $9K. He's paying 500/month at 72 months. That's $36K in car payments. For a $9K car!
Sorry, total payments are going to equal over $40K
The saddest part about this whole thing was hearing his "goals" for 50/60. I notice this is common with many younger folks without much vision or forethought. They speak of 20 years into the future as if it's 1 million years away and that somehow by that time they just magically figure everything out. In this young man's mind, it's inevitable that he will be 50/60 years old, rich and retired, and in fantastic shape. The thing is...none of those things are achieved by accident.
Jeeze man, I was addicted to opiates ages 24-30 and spent time being homeless and my finances weren't as screwed up as this guy. Seems like a mental health issue. But in 3 years of fixing my life I've got my credit score from 500s to 700s, paid off all collections and currently saving for my first home so it's not over for this guy, just got a lot of work to do.
WOW... Dude, I'm so proud of you!!! YOU'VE GOT THIS
Wow!
This is so inspiring, congratulations man!
W
By kicking that habit you had to develop new better habits. Congrats. This guy is just floating along assuming that his life won't or can't change. With new habits he will be fine. Just look at how much he struggles to even imagine getting hired as a manager making over 70k
Bruh
Laziness is like taking out a loan on your life. Whatever you neglect to do now will be twice as hard to do later, if not more.
Never thought about it like that. My parents said something similar. Work hard in your teens and 20’s and you won’t struggle as much when you’re older. Fuck around early on, you’ll see how hard life is when you get older.
Hard things only get harder when you put them off
I have done the payday loans when I was in my 20’s. It is extremely hard to get out of having to do it multiple times. They take so much money from you and you keep staying behind. Once I finally broke free from it by just doing without for a few weeks ( zero spending but bills, ate very little ,, walked instead of drove to save gas,, etc ). I am glad I am not in the situation of using it anymore and I really wish they would go away .
My late mother-in-law used them and she was in her 70's! Those damn payday loans are SO hard to get off your back once you get started with them.
@@alleykeosheyan4779it is sad but true. Shameful to use and elemderly like that
The best part of this channel is it removes a lot of guilt/shame and stigma from finances. Money is morally neutral.
☆ You are not good or bad bc your financial situation. You are not your financial situation. ☆
You are in need of learning financial literacy or behavioral skills but morally neutral…♡︎♡︎♡︎
money is not morally neutral lol
I love how you actually get stressed at other people’s finances. It shows that you care and actually want to help these people out
They tend to ignore the issue and he's making it more visual how bad it actually is. I don't think they understand until he is showing them how bad it really is by his reaction. I think that could actually help them to put it in perspective.
This episode broke my heart - Joseph seems like an earnest guy with a an honest dream. And as you said, that dream isn't even in the same room as the reality right now with those crazy loan amounts and the car situation. Kudos to you for sticking it through and trying to get him to see the light - looked exhausting for both of you. Keep up the great work Caleb, this series is fantastic.
I really want him to do well!
@@CalebHammer me too
118% on the laptop loan. I died and came back to life. I didn't know that was even possible
Just got to the 580%... 🥴
I still don't believe that's even possible. He showed us but I still don't believe it!
It's real I get stuff in the mail all the time that's says take this loan and we'll give you a 500% interest discount for a year,I always laugh and throw them in the trash
Same!
Yeah best buy does no interest for a year of you do minimum payments, but if you miss a payment or don’t pay it within 12 months you get 100% interest then it adds after
He did a lease for the laptop. Double the price over the term of 12 months or cash price for 90 days.
i see why you're frustrated but this guy was funny to me. like a cartoon character. he knows he's effing up and he's just meme-ing his way through it. gotta respect the cope
Yeah he’s a goof ball
@@CalebHammer yeah, a nice goofy ball
His laughing was driving me crazy. He’s so fucked
He’s literally the embodiment of cope harder
Payday loans being legal will never stop baffling me.
That fact that over 500 percent apr isn't considered usury is crazy to me.
They would go out of business if people stopped using them.
@DrThunder2004 what are you even trying to say? Any company where no one uses the companies product will go out of business. The problem is that these payday loans are, in my opinion, highly predatory and take advantage of one of the most vulnerable groups of people.
Because there's so much DEMAND for it. Each state has their own regulation to what payday loan places can charge. If you feel that extreme about, go to your state legislation.
We both know you wont be doing that, so
@Redrum Susan Found the judeophobe.
As a Best Buy employee, I doubt it was the Best Buy Creditcard that charge was on but the laptop was bought through our “partner” Progressive Leasing. They are essentially Rent A Center like pay over time to own loan contracts but they allow you to choose what to buy at BestBuy after being given a large up front spending limit (usually based off income because they will garnish your wages eventually). Very sadly, many customers them see the large amount allowed for them to spend without having to pay that day, and go crazy buying up to the limit as much as they can (since all they have to pay is the tax on the products that day). This is generally what is chosen by customers when they don’t get approved for the BestBuy credit card, which would’ve allowed deferred interest monthly financing for 6 months to 2 years depending on the product over $200 (pre-tax). Personally I dislike the whole practice since you can easily rack up 300% in interest from the principal loan, especially if you don’t call in to their call center and get it into a fixed payment 3 month payment system which is the only feasible way to pay off the progressive leasing loan.
It’s a hassle for employees, it leaves customers in a bad position, and as stated here (most likely) it was a loan from “Best Buy.” Personally I wish we stopped doing it. A store credit card is one thing, facilitating loans like that is a completely different other thing.
Shit like that is just evil.
Sucks that company's do this you gotta make ends meet some how don't feel bad you did nothing wrong
Usury
The crazy thing about this is these are just basically toys, and not things that these people need.
It's a spin off financial product from Aaron's Furniture. Blame them too.
I really needed this kind of talk when I was in my mid-20s. You’re really helping the people on your channel by helping them come to terms with their poor financial choices.
Actually finances should be taught at home and in high school.
I feel for this guy. When I grew up in the 80s there were caps on what lenders could charge. Bank said NO if you didn't qualify and "alternative financing" loan sharking was something the mafia did. The financial uninformed couldn't dig themselves into a hole like today. There was still some honor in lending. These days they'll use kidneys as collateral to sell you a dining room set and nobody thinks that's a problem. Everything got so dirty. How do they sell those loans and still look themselves in the mirror?
Fun fact, the deregulation of interest loans started happened in the 1980s, which is when payday loans started popping up.
Bankers today are just loan sharks.
loooool ok its all 'the mans' fault and not this manchild for doing bad deals
He's not blaming the man, he's saying they made it a possibility. Without them, this guy would be fine.
@@hydroxide5507it is way moee than just this dude. Come on😊
I'm addicted to this series! I know it's newer but it would be awesome to see some updates on folks in a few months or a year to see how they are doing
Thank you so much! And absolutely :)
@@CalebHammer Please do follow-ups… even if it's one episode and it’s just you doing a VO with what you know about their progress, if any. Nothing crazy.
When Caleb went “You’re cope laughing, I respect it and I understand it… but I am hurting” I was like yes Financial Empathy Daddy 😂
*disappointed Financial Empathy Daddy
People laugh out of embarrassment, it’s normal, it doesn’t require special understanding. People who get mad at embarrassed smiles and laughter are part sociopath
Yeeeh😊
So true
@@M_SCI wish more people understood that. When I used to be a cashier then a Karen was mad that the jeans she wanted didn’t ring up on sale or whatever and needed a manager and while we were waiting she kept complaining and there were so many people waiting in line and I laughed out of awkwardness and she was sarcastic towards me about it and it made me further embarrassed.
When your dreams don't require having money and being financially stable (i.e. working at a mom-and-pop retro store and throwing down as the oldest dude at a metal show and waking up the next day hungover), no amount of financial advice will make that person change. Their goals do not require being financially stable so all this seems like is sacrifice for something they aren't actually motivated for.
Well even if you wanted more money and being financially stable he still has an income issue vs. expenses problem.
I can tell he wants to better himself, and that the laughing is a cope... but I believe he's got to move past the "everything is a meme" mentality to actually begin tackling the issues. Lots of respect for him coming on to air out his financial issues so ppl can learn from his mistakes. Hope he takes action!
Facts. In this situation, he literally cannot afford to even HAVE opinions!!
Did you comment this before you watched the whole video. This man is lazy, he classifies he has execution disfunction. Man has no discipline. I’d tend to agree with you if he was early 20’s but this is a 30 yr old grown ass man that needs to grow up like yesterday.
@@joykonkel1347 Nothing you've said here contradicts with anything I said. Lazy, yes. But I don't think he would come on here if he didn't want to better himself.
“Money isn’t even real at the end of the day. “
Like yeah. It’s not real in a very zoomed out general philosophical perspective. But because the vast majority of the world believes in the power of money, it’s real. That’s it. You’re not gonna change it just cuz you don’t believe it if everyone else in every society believes in money.
“Money is just a concept” when applied to real life is stupidity.
@@joykonkel1347 At his age this is a problem. He seems to not want but his income is an issue so not a good fix!!!
I have so much more respect for this guy. He actually takes responsibility for his actions and don’t try to find excuses or justify his decisions.
True!
You know what I would love to see is if for a few of these people you could re-audit them quarterly and we could see how they do and if they follow the advice. I think it could be really neat to see them turn their financial life around.
Same!
You're in luck cause Caleb did 2 follow up episodes with this guy :D
ruclips.net/video/tK9sMkOKhzk/видео.html
ruclips.net/video/zQfXA4I4gw0/видео.html
Pleeeease definitely do a follow up with this guy. I'm so interested to see where life takes him and if he actually takes your advice to heart, even if it's not what he'd prefer to do.
He's in 2 other of Caleb's videos, I'm just here to see the first part of this guy's series because it allegedly gets much worse
@@katrinascarlet5637 I've caught up on the other 2 now and it doeeees 😩.
It gets so much worse.
@@SomechicknameAshleywhaaat do yall mean it gets worse? Oh no
@@SomechicknameAshley oh god adding them to my queue 😂
@@SomechicknameAshley where are the vids? I don’t seem them
Thank god my mom was a an accountant, this stuff was beat in to my brain as a kid 😂 I’d be disowned if I ever walked in to a payday loan place 🤣
Absolutely obsessed with these financial audits Caleb! Keep up the grind!
I like comparing these against how my wife and I are doing, would like to see more parents on here to see how they budget, as we have a 1 year old.
Thank you so much :)
I agree I would love to see some parents on the show as well!
I agree would love to see family planning budgeting
Yes! A couple would be interesting lmao we'd need a therapist there after. 🤣
This guy is the most genuine person you’ve interviewed so far. His honestly is refreshing. He knows and said he’s living life on hard mode. I hope your fury on payday loans was well received and resonates for him moving forward. Predatory lending should be illegal.
Yeah, he's great
This channel has convinced me to start putting towards an emergency fund. It’s sounds stupid to say at 34 but I never even considered it.
I'm happy to hear you're doing it now though!
Strongly recommend, its hard to explain the level of relief you have, when you have one. If you also have your debts paid off, it's basically double rainbows.
Don’t feel stupid! I’m 33 and I’m still building mine! It is such a relief to have money set aside. I set a fixed percentage for myself and save that amount every paycheck. Time flies fast and it’s rewarding seeing the money grow!
Talking to this guy is like talking to a teenager.
This guy is 31 years old.
This is just sad bro, I feel for him.
Exactly! Dude has to make a joke about everything. Like, dude, this is a serious situation about your financial health and future
@@BlackmegagunI mean he is coping. Everyone has their different coping methods
Yeah, I think it's deflection, he knows he's in a mess, he went on the show.
Seems like a discord mod or twitch mod😂
he wants to do what? at 40 have enough in his portfolio to cover health care, while payin off that amount of debt, which is steadily increasing through interest by earning 30k in an expensive city? at 50-60 retire? hell naw dogg - get a new job earning 80-90k - live like a total bum and then you get there lol
This nice man is beyond stressed, already getting grey hairs at 31 years old. He got taken to the cleaners on those payday loans. I hope he turns things around and wins
This dude isn’t stressed about anything. He doesn’t understand how bad his situation is
@@Beatty68x I think he does, he's just choosing to ignore it. But by ignoring it he's stressed
When you said, “This nice man is beyond stressed”, I thought you were talking about the adviser. The dude himself is not stressed, he’s been slacking, eating out daily, not taking anything seriously and complaining about every job that expects him to work. The immaturity is astounding.
Yeah but he did this to himself. They look for suckers. So he’s a sucker.
I can confirm stress gives grey hairs. I'm 31 and got a bunch already
This got to the point where it just wasn’t EVEN funny anymore to see this man laugh over his serious financial struggles, I hope he listens to you Caleb. Thank you for starting this channel it’s extremely helpful and eye opening. 😊
Agreed, there is definitely something wrong with his upbringing. I'm sorry but I'm just gonna say it that he's a straight loser. He badly needs some of that Jordan Peterson talk. This looks to me like a guy with daddy issues (no father figure present). He needs to be told and yelled at to get your SHIT straight son.
Yeah, I think a little nervous laughter is ok but this guy was on another level of denial. His credit score is one of the lowest I've ever personally seen and it's because he's completely fine with defaulting on debt *repeatedly*.
It's painful to watch, honestly.
The guy needs to get serious about life, he has the maturity of a teenager. Too many people that show up on this series are too busy chasing dreams instead of being realistic about their options. Not to mention they refuse to sacrifice their happiness in order to make their dreams happen
I agree .. the constant laughing and jokes was annoying
@@candy2325 think its a nervous thing
👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽
@@candy2325 dudes 31 making 15/hr this is just the sum of his upbringing
Self Sacrifice, work ethics, ambitions, and delay gratification are attributes of the wealhtly and successful
I'm really rooting for this guy, I hope he gets a manager position, even if he's line tell your boss you're eager to progress the ladder people are willing to pay for workers.
Could you put a running total in the empty space of the screen? kind of like a spread sheet (depending if you have the time sending them away with a spread sheet themselves is sometimes helpful)
At least buddy has a sense of humor. God bless him.
I love how this guy titled his spending and income categories. Burr and Madonna's can add up quick though, Both financially and calorically.
This one showed just how much you actually care about the guests coming on!
I genuinely love how passionate you are, I hope it really resonates with the guests, because you are completely spot on.
I used to be exactly where he is, if not worse, and I am SO happy to be on the other side of it now with NO MORE DEBT at all. 🙏🏾
This guy seems like a nice guy as well, I really hope he manages to get on top of this, and starts learning about personal finance management.
Thank you so much 😊 I really appreciate that
Caleb you're the MVP always asking these Austinites how they have cheap rent, cuz that is my first damn question whenever they say they pay $600! Keep these up, I'm on my own financial journey here in San Antonio and these motivate the shit out of me to keep grinding it out!
Yeah it's wild!
I paid $750 in NYC. Granted that was 10 years ago but that doesn’t sound impossible if you have roommates. $750 in 2010 appears to be around $1k in today’s dollars.
San Antonio ftw!!
I applaud Caleb for not throwing him out. Can't imagine how frustrating it is to have someone "yes but" everything you say when they're coming to you for your help and expertise. I could go on and on about how frustrating this was for me but you gave him a great opportunity to help himself. I hope for his sake he listens.
I didn’t get that vibe from him, he seemed to recognize he messed up. He just has an odd way of coping. However he did seem lazy when Caleb said work 80-90 hours
This guy found ways of going into debt that I didn't even realize was an option.
I’m finally debt free at 30. It definitely is a huge weight lifted. I do feel upset at myself at how much money I wasted on financing stupid shit. Never again will I go down that road
Alright I have decided to NEVER take out a payday loan ever. Having more interest than the principle is absurd
NEVER EVER EVER
Many states they are considered “Unlawful Loans” and people get away of not having to pay them back
It is taken out of desperation
@@manygatos885 yep. They're illegal in Georgia. I skipped out on one years ago and never heard anything else about it once I told them I wasn't paying because I had already repaid more than the principal. They can shove the interest up their a**. That was the end of the payday loan.
i legit dont know how someone has the heart to give out those loans to people.
i was asked to work a job at an auto dealership that focuses on predatory loans. it offered over 100k and i just couldnt stomach giving out those types of loans day after day.
Most of us were never taught how to manage money or build wealth. I love that you try to help them. 🙂
This video format is great, and the length is perfect. It really helps us viewers take a step back and look at all of the financial mistakes we keep making. Props to Joseph for agreeing to do this. He seems like he would be such a cool guy to hang out with. Unfortunately, without setting measurable goals or being realistic about income I don’t think anything is going to change for him. I hope it does though.
You can tell he's such a sweet soul...this was so hard to watch. But I'm so happy he's getting his life together!
He's 31 he hasn't with his lazy attitude he's not going anywhere
Even if this guy won the Powerball jackpot, he'd still be flat broke in a year or two.
I gave six months with twice of what he won in payday loans 😂
Yep. You could take all the money in the world, divide it equally between all human beings, and in six months, there’d be abject poverty and multi-millionaires. That’s why “equity” never works. It doesn’t take human nature into account, it denies reality. But reality always wins.
I've played 0 games of Lottery and I have no intention. Isn't the lottery called the poor tax? It's tax money and earnings from the lottery that gets funneled into a few people.
I love that I get ads for a local "bad credit/no credit needed" car dealerships while watching a series that highlights the bad decisions many make at such places. 10/10 video BTW - Laughing in the face of hardship shows strength. It may not highlight the best past decisions, but it shows the ability to recognize the problem while protecting motivation from shutting off from fear and/or stress pressures. It's what got me through high school and the next decade after! Joseph has strength. He just needs some more self discipline. Joseph, if you read this, just know I'm cheering you on!
Really?!?!?!? That's WILD
@@CalebHammer Yeah! the irony is striking for sure! It's 90% cash advance / bad credit car lots / join my program to make money ads and then a random electric Cadillac ads for the last 10% - LMAO
Signing a loan at 580% is wild
INSANE
And him saying no regret of getting that laptop is epic
@@joey8762 and the "amount saved" was nuts
And here I was thinking 4 percent was bad
@@Wakapalypze I have 28% on my car 😬3 years left! 🤦♂️
Dude is a good example of someone who seems to know a lot of financial vocab, but not how they work in practice.
Yeah, but with his talk, I think he has a chance to LEARN!!
It's a math problem and he is lousy at it; poor impulse control just compound the problem.
Genuinely seems like a guy I'd wanna hang out with. Super light hearted. Hope he's able to buckle down and clean this up. He'll be unstoppable once he does.
The fact that someone would agree to 580% interest and then actually sign a contract.. I have no words.
When I was in addictive addiction I could care less about the interest rate, it could have been 10000% and I still would have taken tht 100-200$. Looking back though, incredibly stupid and can’t imagine how anyone would take it but they’re called predictors loans for a reason. Most people don’t want to take these loans but are in situation where they have no choice. This guy just seems a little stupid imo tho
I bought a Jeep off someone to clear the payday loan they had 500 on it and it broke down and some issues. I had intentions to flip. They made a minimum 108 payment on it 107.67 went to interest and .33 went to payment. Then the next month they were late and didn’t make the 108 payment so it went up above the original balance by $80 so I paid $580 I was able to fix the Jeep myself in parts alone for $200 (not counting my labor) and I put 4 new cheaper tires on it and detailed it nice and added a working aftermarket JVC stereo and 4 JVC speakers. The remote locking was junk so I added a viper alarm and tired that to the locking as a replacement remote. I had the viper system and had bought it used for $50 the stereo kit was crutchfield JVC kit think like just shy 150. Want to say tires were $300. So 700 plus 580 invested. So let’s say 1500 invested with incidentals like rug shampoo and decals and registration fees as it was also expired and late registration. I sold it for $3500 EASY first person to see it. Cleared 2k for let’s say I had 8 hours into repairs, upgrades, cleaning time. As it sold so fast and easy. I like buying things from desperate people.
The payday place was glad to have me buy it and pay off the title loan on the Jeep as they knew it was broken and for professional repair they would had to put into it would not worked. As I say was $200 in parts and maybe 3 hours so a shop rate probably 1500 plus they knew it needed cleaning and had a bad stereo. They saw it as going to scrapyard and a loss on the original 500. They knew it made no sense to fix it and selling a broken unregistered Jeep with flat tires. Hahah. Honestly I got the 3500 as i shampoo everything seats and floor and clean nice. I did a full buff and then a good wax. It looked really nice and fresh. That makes a car stand out to shine in the sun have fresh tires and smell like new inside. Those don’t cost much just hours of time. It’s amazing what a set of buffer cutting pads and some dent pullers can do. Long as no crash. Even some chips in paint you can fill in and buff down with a coat of wax it’s sweet. Chrome is easy to shine and you can sand the headlights and tail lamps with super fine wet sand so they are clear and new looking.
@@TezzyRs I hope you managed to overcome and are doing well now. Wishing you health.
He could absolutely land at least an assistant manager position at a fast food place making at least $20k more than he is now. Believe in yourself, my guy!!!
You can't be an assistant manager when you don't believe money is real and take everything as a joke. Usually the assistant manager deals with all the employees day to day, and this guy is entirely too nice to manage a bunch of fast food employees.
@@markcowan3366 I thought the same thing. I feel like he would be more concerned with being everyone's friend rather than being their boss.
He is just way too lazy.
Off qualifications?? No.
Now if he stayed at the pizza place and tried hard, might eventually move up.
I just became financially independent at a uh, later age in life. This channel came just at the right time, I am a naturally frugal person and am adverse to taking on debt but now I track every penny I spend and look forward to seeing how much I can save and the goals I can work toward.
The thought of having to put down a McChicken under my expenses keeps me driving past the drive-thru home to that cheaper and more nutritious home cooked meal!
This is a good example of how predatory payday loans are. I’ve never heard of those types of interest rates before. They suck people in when they are at their lowest point and take full advantage of their despair. There should be more limits around their maximum interest (in my state there are limits).
What I’m even more shocked about is his unwillingness to really take any advice that was given. This is really a desperate situation and I know he was laughing to cope, but at the end I’m not sure he quite understood how dire his situation actually is.
Buy here pay here places, payday loans, furniture stores and many other places that make a lot of money off essentials that people need. They are designed to keep you paying and really hurt people with lower incomes.
wild isn't it?!?!
@@CalebHammer The reason they do that is the risk associated with said loans to cover the costs for the ones who never pay!!
Every now and then I came back to watch Joseph’s videos, it really keeps me motivated not to make the same mistakes as him. It’s very frustrating to see him giggle and make jokes while Caleb is trying his best to improve Joseph’s life. I hope Joseph rewatches these and try’s to actually work hard and get out of this financial mess he’s made.
I picture this guy having to console Caleb after this like “it’s going to be okay man, never getting a payday loan again, you’ll never see it again”
Somehow, I don't see this not happening again if he doesn't change jobs...
The worst part is this guy has an excuse for everything. That usually indicates that someone still doesn't quite accept the urgency of the need to change.
They normally all do ;)
thanks for this curtis . I keep trying to help my friends , but u can't give them what they don't want . I gotta remind myself.
Mannn, good luck Joseph! I was hurting for this guy because he seems like a person with good intentions. Payday loans are bottomless pits of financial disasters and it’s hard to get out of them without a solid plan.
I really do wish him the best!
The payday loan scam is a mess. Insane that they can even do that. Your page and these people makes me get my credit together!!!!
Just hearing his expenses this far, Joe shouldn't burn bridges at the pizza place because he'll need to work nights
Money is one of the biggest sources of anxiety and stress for most Americans. When you finally get your finances under control, you will see how your life turns around 🙌
Joseph seems like a great guy and sounds like he’s a great friend too. It’s hard to see that even if he was willing to sacrifice right now by getting a better job, he wouldn’t because he wants his friend to get the referral bonus. His retirement goals are great because he doesn’t have to retire rich, but I agree he won’t be able to retire at all without sacrificing now.
Yeah he's a very nice guy and a goof ball, I wish him the absolute best!
I thought the same thing, that he'd promised his friend so wouldn't look for a higher paying job.
wow this episode is straddling the line between a financial issue and a mentality issue, shows the dangers of an instant gratification mentality vs. thinking about short term sacrifices for long term gains
Very sad :(
Money is often linked to psychology - how one thinks influences their money decisions.
There's no way this guy spends money on a financial advisor. He's probably taken out another payday loan since this aired.
Why is a 31 year old complaining about not getting breaks? They aren't pregenting him from peeing, he seems nice but lazy.
@@andrew8168 He is not healthy. Willing to bet he has heart disease. He needs to go on a keto/carnivore diet, no booze, no SODA. Then exercise 3-5 times a week. Within a month or so he would not be craving ‘breaks’.🤦🏽♂
@@davisholman8149 yep his real problem is his health.
@@davisholman8149 up to 1.5 hours exercise, but 1 hour brisk walk 30 min each wAY OR EVEN 30 min a day of brisk walk and when slim running. keto. steak and butter. a little non sweet veggies. salad leafs. boom. half a year. chaching.
Lol. Go from financially irresponsible to being overweight.
Called himself a pizza boy when he's a fully grown man is just wild to me, still got a kids mindset while being at his halfway point in life
Halfway point, if he's lucky! "The check engine light is on, for my body" 🤣
Halfway? Are you planning on dying at 60 years old? 30 is more like 1/3 of your life not even taking into account modern medicine advancement in the future.
“I was happy I was even approved at all”
I’m sorry bro that was some funny ass shit 🤣🤣🤣🤣🤣
Aw Caleb I love how honest you are with people! A lot of people will deflect with laughter and jokes, but sometimes cutting to the chase and calling the bull is the best thing you can do for them. And you’re still super empathetic and helpful at the same time. Really great job ♥️ you’re helping so many people 💸
I saw you commented that he's a goofball, and that's a perfect description. I think he'll have a wake-up call at some point. A lot of his takes like "insurance is a scam" and "money is fake" seem like he's partially in denial about these things
Sounds like a hippie
I know some people that also say this. Denial is an accurate word. Denial that they live on a world where they are responsible for themselves. Denial of the horror that is socialist utopia. Denial that ignoring their financial responsibility will result in no control over their lives
@@NoRegertsHere wtf are you actually saying. This is Texas, about the least socialist place on Earth.
He's not wrong but that's not a rational response to get a 500% loan maybe don't buy a car or move to new Hampshire where no insurance or maybe buy some "real money" not on credit
@@NoRegertsHere America literally let people die of starvation and jail the unhoused than to help. Capitalism by definition is a failure.
"I spend a little more than I'd like to at Panda Express"
Dude. I felt that.
haha, same with my belly :p
@@CalebHammer I grudgingly took a sabbatical from that delicious orange chicken haha
I really hope Joseph is in a better financial situation now, he seems so nice.
He’s been on 3 times after this, he is a little better but not much.
Love the channel and just subscribed. This guy is dense. Not willing to up his income as you suggested because he’s more worried about his friend getting their recruiting bonus over his own livelihood and being attached to a car that’s hanging him tells a lot of his mentality regarding his situation
This conversation was so adorable, if you ignore the bad financial decisions. I could see how much you fed into his jokes and it was so fun to watch this convo.
I cant believe its legal to charge almost 600% interest rate. Does Texas not have a cap on the interest rate on payday loans like some states?
Not sure why the individuals insurance that hit him while he was riding his bike didn’t cover the hospital bill unless it was a hit and run.
It’s INSANE
So someone gave me $100 and I agree to pay them back $600. What sort of deal is that?
It’s not interest strictly speaking but fees. Say, I lend you 1000 dollars for one week. And there is a $25 plus nine percent fee and a 20 percent APR interest rate. So, at the end of the first week you owe $$1130. You have to pay the fees and interest but can roll over to a technically new $1000 loan for one more week. If you did that for a year, you would pay $6000 in fees and interest at the equivalent of 600 percent per year. But technically the interest rate is “only” 20 percent APR with processing fees.
@@choreomaniac yup and that’s the workaround so it doesn’t fall under shark-loaning even though it is.
its Texas, gotta defer to the free market, if the loan sharks can make huge profit by charging absurd fees then its socialist to stop it. The state gov the same mindset here in arizona....
I'm kind of excited to see people come back and show us how they improved.
Same!! And I want them to do so well!!
These loans should be illegal. Just disgusting
Interest rates that would make a loan shark blush.
I know a girl that takes out payday loans all the time. She has like $3000 total at over 30%. I've thought about paying them all off and charging her 8%. Problem is, she won't see this is a solution to her debt. But as an opportunity to screw me over.
Don’t save her!
We call that enabling. But you already know that. Like you said, she’d never pay you back either.
The important question is will you smash.
Please don't do it. She will take the loans out as soon as you turn your back.
Don’t help these lost souls bro run and disassociate you are who you hangout with my man
Of course Best Buy would give someone a loan like that. They were trying to get as much money as possible out of the one person in the last 20 years that would sign for one through them.
So sad :/
He was an easy target and whoever gave him the loan could see that and took advantage
As someone who worked at best buy for almost 3 years. He didnt get aproved for the credit card so they did progresive leasing. I hate progresive leasing, i never offered it to people.
118% interest should be illegal! Shame on Best Buy!
@@roselyntyson559 Progressive leasing isnt Best Buy, its a different option to purchase you item. When i worked at best buy i never offered it becuase it was really bad.
I just texted this video to my friends. I love when Caleb gets “dad sad” and people try to make him feel better by promising to pay their s*it back lol 🎉🎉 “I’ll pay it right NOW!”. Beautiful !!!
Videos like this humble me and make me realize my own financial mistakes and ways I can fix it. Definitely appreciate videos like this
This was my first caleb video. I’m watching it back now with so much nostalgia because of where i am now. I related to this man so much. Even if i didn’t do the same exact things. Keep moving forward yall. Abundance is coming. (I’m not there but gosh darn do i feel it)
First time watching an “older” video. You’ve come along way!
You’re growing so fast on RUclips. Proud of you man!
Could not have done it without you Brandon!
This was the hardest to watch because of the self deprecating copium. I hope he'll find the willpower/motivation to make the big changes like getting a better job rather than these small short term bandaid fixes like eating out less. I also hope he learns to see how much more you'll pay long term getting stuff now with a loan rather than just saving up to buy outright.
Everyday I see another 1K or so subscribers, and been around since 2K. You are doing fantastic Caleb!
Thank you for your continued support :) it means the world!!
I am so greatful for this channel!!! Helping me repair my credit one step at a time
I think I understand this man. He is a gentle, kind man. He has many friends. People laugh more when they are with him. The conversation gets better when they are with him. But he goes home and he doesn’t know who he is.
This is why financial literacy should be taught in school. These places are robbing him because he can’t do the math nor plan for his future.
He lives in fantasy land. He has not done the work to live the life he’s imaging. Remember he’s 31. He has 29 years to save a portfolio big enough to live off of. It’s grind and save time.
I agree when I was in HS economics was a required class but we weren’t taught real life financial scenarios and how to get ourselves out of debt, how loans affect us long term. I think all schools should have an adulting success class. That teaches what a w-2 is, pros and cons of credit cards, how to build emergency savings, how to live beneath your means, how to file taxes etc.
This guy is very different than most people on here. He is very aware and organized with his money, but still makes bad decisions. His intelligence actually makes it more frustrating. Best of luck!
He knows how to use money when its EASY, and he pretends to be clueless when it takes hard work
Funny how that works, huh
I was doing my budget for May today and every time I saw a ubereats charge I heard Caleb’s voice. All these charges were in April and for the last one week (since I started watching this channel) I haven’t even dared to open that app.
Watching these videos always makes me feel better about my income and my finances. I’m doing alright.
Wow.. the amount of growth Caleb's work, set and channel in general has seen is aspiring . 11 months ago had a home set and look at him now!
I really prefer no music in the background, good editing choice! Obsessed with these because it gives me a bit of peace of mind that I’m actually not living beyond my means and doing pretty okay, and everyone’s learning including me 🙏
Thank you :)
I love the no music also! I'm in my 60s and it's hard for me to hear the conversation when they've added music.
I'm eagerly awaiting more of the 6 or 12 month update videos... but these are great (and addictive)!
these videos have really gotten my finances in check AND they are entertaining! 100K Subs next year for sure
Thank you so much!
a million subs next year!
Finally seeing the first video with this guest! Thanks for so many follow-ups!
I feel for everyone that comes on this show. I do appreciate that it’s a constant reminder not to fall into the credit card trap!