1 of my first 10,000 subscribers will win $1,000, and 5 will each win $100. You will be randomly selected and announced within the first week of hitting 10,000 subscribers!
Honestly the smartest guy I’ve seen on the audits so far. He can cut down on coffee but he’s a very smart guy. He’ll do good in life if he keeps this up
Watching old episodes for the first time and I am gobsmacked when Caleb said this is the first time he has recommended a person to get a credit card. A year later and I don’t think he has ever said that to anyone since. 😂
I just found your channel through TikTok, have been binge-watching all day, and have learned so much already. Would love to see something done with a law student or med student because the debt for those schools is insane compared to just undergrad (speaking from experience). And it takes a while to actually start making money even after you graduate (internships, residency, licensing exams and fees, etc.)
@@iAlwaysSpeakTheTruth I think just working a few years before going to college would help give these kids some direction. A lot of them are pressured into it, don't know any better, and get a degree history or performing arts for 120K.
I think high school should have classes on career workshop where u take attribute tests (personality, talents, skills, abilities, interests) to see what jobs would fit u. Also, go over different industries to work in and what jobs are in those industries and what those jobs pay. Also, a class on investments.
This is awesome. I wish I was like Gabe when I was his age. The coffee is definitely one setback, but it's not a bad one either, and personally, I think he deserves it as long as he doesn't fall into lifestyle inflation after college. Awesome episode.
You should make a series of videos talking more in depth about credit cards and saving accounts. I'm a college student and still don't have a credit card and I don't even know where to start. I think that would be a great idea. Great video btw!
Once you do get a credit card the biggest rule is to pay off the ENTIRE balance off each month. Then you do not pay any interest on your charges, but you do get the benefits of the credit card like #% cash back or points/miles for planes and hotels. You need to be careful that you do not SPEND more money with the credit card than you HAVE. A good rule of thumb is if you don't have it in the bank, then don't charge it on the card. Treat a credit card like a debit card.
With all the crazy US college tuition getting so expensive, if I am 18 today, I'll just go to 2 years of community college and transfer to university to save money
He will go far. He's doing well with finances already in college and that's a big thing in itself considering most college kids are horrible with money.
While that’s true, he would have to buy a separate milk steamer for his cappucinos/lattés. I have a $100 mini espresso machine with a built in steamer + a burr grinder (you can’t just buy regular coffee grounds-they have to be espresso ground) from Amazon for like $30, and any accessories like a milk pitcher, thermometer, and a tamper, is around $150 total. He could still definitely do it and really reduce his coffee intake out.
The discover student card would also be a great starter credit card as well. I didn't have any credit when I applied for it and I've gotten credit increases consistently. Your credit score will go up too with on time student loan payments- it might be good just to pay enough off monthly so that you don't have interest added to the loan itself but so you still have another on time payment for your credit score 🙂 those student loans are pretty low so you could turn it into a way to improve your credit
I would like to apologies to Gabriel, I will admit that when I saw his intro I did not think much of him but he surprised me and seems like he is not just pretty good with money but seems like a good guy as well. I wish him luck in the future.
reminds me of myself about 2 years ago in college, doing the best and in a good spot. Haven't ruined it yet but I definitely succumbed to a bit of lifestyle inflation that I have to wrangle back.
I do believe you’re reading his credit card statement a little wrong, the “previous balance” is what is in danger of accruing interest on the statement. The $24 will be their statement balance for next month so that wouldn’t accrue interest unless they didn’t pay that next month
If the reason he goes to coffee shops is partly atmosphere and socialising, that isn't going to be replicated by buying an espresso machine. I wasn't keen on that advice. If he cuts his coffee expenses in half - he can still do it as a treat and be set up for success. If you Frame it as "$50 entertainment" a month - nothing wrong with that.
Gabriel, make sure to get a ROTH IRA account. It is free. You can open one up with Charles Schwab, and/or other brokerages. Put as much as you can in that every year, and it will grow tax free. Godspeed, young man!
Stove-top espresso cooker for 20€ and a milk frother for 25€. Then 10€ a month on coffee and 10€ on milk MAX. That's how I did it. Then at most two coffees out per month.
I didn’t know I was living in the reality where Caleb suggests a guest get a credit card! lol this was honestly so nice to watch Caleb interact with a guest who’s doing decently!
Between my Starbucks Gold Card and my Starbucks Visa Card, I spend around $80 a month on coffee ☕️. I get free bakery treats as well, using my reward stars. Using a reusable cup earns me 25 stars with each coffee.
That's a lot per month, but good on you for maximizing what you get for that $80. By the way, do they let you use your reusable cup right now? The Starbucks near me stopped accepting personal cups in 2020 because of covid but i never really heard that they are allowing them again.
Good call on the citi double cash card , that’s my one card and I spend a ton of money on it - everything besides my mortgage. 802 credit score and CFP 😂 . Not financial advice
I thought this video was great. The main confusion for me was that his monthly expenses were $4,200 last month. you forecasted his expenses to only be $1,500 per mont in the future. Where did that extra $2,700 in expenses in the past month go?
The forecast that we did was going to be on a strict monthly budget that he follows, so cutting back on the crazy spending he did in the previous month.
Dude. Bro! Muscle shirts never go with overalls. Not trying to be the fashion police -- but wow. Keep working that college and with some slight adjustments you're going to do great Gabriel! Good vid!
I was really stupid with money in community college. It wasn't til recently I found out what a credit score was. No one taught me these things. Thanks for the videos!
He definitely spends wisely aside from the coffee.... which he could cut in half and 1 credit card is great. He's doing well for his age. I agree he should save more.. maybe 10$ a day to start from 5.
At a point in time I used to spend 2.5% of my monthly take home on coffee shops. I'm not sure if that is good or not. Cut it down to 0.8% now. Coffee shops is one of those few things that bring me joy in a city.
I live in Austin and I buy a gallon worth of Cold Brew concentrate from Barrett's that lasts me for a month. Basically I'm getting really strong, tasty cold brew at about a 1/5 of the normal cost of a latte with similar results.
500 dollar espresso machine is not going to make that quality espresso and he's still going to feel inclined to go out and buy cappuccinos because the ones at home suck.
filed for bakrupcy, split the country, opened a business now retired at 40 😂. When i look back it was my lack of control and all the credit cards, just losing track on dates and paying late fees over the years. I just do cash now and save if i need something not want, those wants and c cards got me . nice show
1 of my first 10,000 subscribers will win $1,000, and 5 will each win $100. You will be randomly selected and announced within the first week of hitting 10,000 subscribers!
Cool stuff!
Soo sweet gl everyone!
Subscribed! Love the videos! I’m learning a ton and I wish you best with this series! 🙌
Honestly the smartest guy I’ve seen on the audits so far. He can cut down on coffee but he’s a very smart guy. He’ll do good in life if he keeps this up
For sure!
@gay lorde lulwut
then productivity will drop.
It’s crazy that this college student is doing much better financially than the couple making $250k a year…
Right?!
Watching old episodes for the first time and I am gobsmacked when Caleb said this is the first time he has recommended a person to get a credit card. A year later and I don’t think he has ever said that to anyone since. 😂
Honestly I judged a lot at first glance but I was wrong, super dope guy who’s not delusional and knows what he finds value in.
Gabriel seems like a smart guy. Definitely on the right track, good for him being in his position as a college student.
He's going to do great! Can't wait to see where he is after graduation.
Gabriel is such a breath of fresh air. I wish him well and lot and lots of success.
Absolutely :)
Can we bring this guy back to see where he is today?
This one was full of a lot of hope for the future. I would love it if you did more actual planning with them, a budget and to dos.
Yeah for sure!! That's a great idea.
But he said he is not a financial advisor
@@e1bo But he does stay at a Holiday Inn before every interview.
@@koreancardboard what?
He should work at the coffee shop!!
haha true!
He’s great. Cash rolling college at his age is rare. I’m impressed by him.
I just found your channel through TikTok, have been binge-watching all day, and have learned so much already. Would love to see something done with a law student or med student because the debt for those schools is insane compared to just undergrad (speaking from experience). And it takes a while to actually start making money even after you graduate (internships, residency, licensing exams and fees, etc.)
Wow, thank you so much! And I would love to!
I'd like to see a "cost of college" series where you go over whether a particular degree is a good investment. Loving this channel though!
100% want to!
100%. So many useless degrees… trade school at that point is the way to go or become a truck driver or start a business
@@iAlwaysSpeakTheTruth I think just working a few years before going to college would help give these kids some direction. A lot of them are pressured into it, don't know any better, and get a degree history or performing arts for 120K.
I think high school should have classes on career workshop where u take attribute tests (personality, talents, skills, abilities, interests) to see what jobs would fit u. Also, go over different industries to work in and what jobs are in those industries and what those jobs pay. Also, a class on investments.
@@CalebHammeryou should revisit this idea
Wake up babe new Caleb vid just dropped
And let’s fall right back asleep by listening to two people talk about personal finances 😂
Takes guts to put your finances on the internet
It really does, much respect to him.
And it's unbelievably valuable as a teaching tool, our parents should be doing this but they don't.
This is awesome. I wish I was like Gabe when I was his age.
The coffee is definitely one setback, but it's not a bad one either, and personally, I think he deserves it as long as he doesn't fall into lifestyle inflation after college. Awesome episode.
Really dangerous thinking you're treading into - no one "deserves" anything.
You should make a series of videos talking more in depth about credit cards and saving accounts. I'm a college student and still don't have a credit card and I don't even know where to start. I think that would be a great idea. Great video btw!
Thank you so much, Leo! And those are absolutely topics I plan to cover in future video :) Excited to make more content!
Once you do get a credit card the biggest rule is to pay off the ENTIRE balance off each month. Then you do not pay any interest on your charges, but you do get the benefits of the credit card like #% cash back or points/miles for planes and hotels. You need to be careful that you do not SPEND more money with the credit card than you HAVE. A good rule of thumb is if you don't have it in the bank, then don't charge it on the card. Treat a credit card like a debit card.
I've been binging these and this guy has one of the best mindsets so far, nice work
I needed this palate cleanser after the 52 year old construction/MLM-er.
Good for you and all the other good yt financial channels for giving people a wake up call on their finances. We need it!
I loved seeing the look on the guy’s face when Caleb mentioned he could have a 1.59 million net worth
It's so good to be able to picture what your future could look like!
I think he is on the right track. Maybe cut the spending of coffee in half and make from home. Other that that, his future could be very bright.
Agreed!
Bro wtf, I like this guy.
Smart, chill and pretty put together
Yeah, he's a cool dude!
This young man is on a good track. Mixed blessing to not be financially dependent on parents. I wish him the best of luck on his financial journey.
With all the crazy US college tuition getting so expensive, if I am 18 today, I'll just go to 2 years of community college and transfer to university to save money
He will go far. He's doing well with finances already in college and that's a big thing in itself considering most college kids are horrible with money.
These videos are helping me with a very productive day. Great pacing. Thank you for making these!
Thank you so much!
91 a month on coffee ? That doesnt seem bad i swear i probably spend that or more on energy drinks
All depends on the % of your income spent on it! $91 can be a lot on coffee when you bring in $1,500 on the low end ever month as a college student.
I've been binging your videos ever since I found your channel, please keep up the great work!
Thank you so much!! That's an honor for me :)
What a nice guy. He should be the example to show others that it is possible to cash flow college, work and save.
Yesss I’m happy to see an example of great financial habits!
Your video's have come a long long way
2 year catch ups will be awesome to see.
Oh yeah!
He listens, that's a major win.
A stovetop espresso maker is like $30 and Gourmet artisan coffee grounds are like $15 a bag which is like 20 shots of espresso's worth.
oh wow!
Yeah only the really premium Expresso makers like Breville is like $600 plus. A cheaper one can be had for way less.
While that’s true, he would have to buy a separate milk steamer for his cappucinos/lattés. I have a $100 mini espresso machine with a built in steamer + a burr grinder (you can’t just buy regular coffee grounds-they have to be espresso ground) from Amazon for like $30, and any accessories like a milk pitcher, thermometer, and a tamper, is around $150 total. He could still definitely do it and really reduce his coffee intake out.
Ay someone that isn't destroying their financial future.
The discover student card would also be a great starter credit card as well. I didn't have any credit when I applied for it and I've gotten credit increases consistently. Your credit score will go up too with on time student loan payments- it might be good just to pay enough off monthly so that you don't have interest added to the loan itself but so you still have another on time payment for your credit score 🙂 those student loans are pretty low so you could turn it into a way to improve your credit
That's true, great call out!!
That was my first credit card too!
I would like to apologies to Gabriel, I will admit that when I saw his intro I did not think much of him but he surprised me and seems like he is not just pretty good with money but seems like a good guy as well. I wish him luck in the future.
So glad you removed background music in new videos , distracting
reminds me of myself about 2 years ago in college, doing the best and in a good spot. Haven't ruined it yet but I definitely succumbed to a bit of lifestyle inflation that I have to wrangle back.
I do believe you’re reading his credit card statement a little wrong, the “previous balance” is what is in danger of accruing interest on the statement. The $24 will be their statement balance for next month so that wouldn’t accrue interest unless they didn’t pay that next month
Seems like a smart chap, only spending what he has not what he can pay off in the future.
I'm 49 years old but this guy is surviving exactly how I did in my 20s. People would ask how do you do it.
Its awesome to see how this show has evolved. Kuddos to all the folks on the Caleb Hammer production team!
I'm learning a lot on this channel. Like to invest in national coffee shop chains.
Saw you on tiktok, found you here, and I'm addicted to these videos now.
If the reason he goes to coffee shops is partly atmosphere and socialising, that isn't going to be replicated by buying an espresso machine. I wasn't keen on that advice. If he cuts his coffee expenses in half - he can still do it as a treat and be set up for success. If you Frame it as "$50 entertainment" a month - nothing wrong with that.
Breath of fresh air 🥰
Definitely looks like a californian RPing as a texan! Fun episode
Gabriel, make sure to get a ROTH IRA account. It is free. You can open one up with Charles Schwab, and/or other brokerages. Put as much as you can in that every year, and it will grow tax free. Godspeed, young man!
The limit is $6,000 though
i was spending 6% of my yearly income on energy drinks for multiple years. caffeine is of the devil
Stove-top espresso cooker for 20€ and a milk frother for 25€. Then 10€ a month on coffee and 10€ on milk MAX. That's how I did it. Then at most two coffees out per month.
I know you might not keep this up. But the time stamps were a huge convenience for me. Awesome work 🌊
Caleb almost a year ago very optimistic on the debt relief now it’s like nah that shits not happening 😂😂😂😂
If this man can curb his coffee addiction......... might just be ok!
Or just make it at home for $0.50 😩
I didn’t know I was living in the reality where Caleb suggests a guest get a credit card! lol this was honestly so nice to watch Caleb interact with a guest who’s doing decently!
Don't think that Student Loan Forgiveness is going to happen. I hope so cause I also owe $7k on my student loans
the coffee spending was definitely high for his income, but honestly not crazy consider he's not spending much in other stuffs. this man is gonna rock
This dude is gonna slay when they re-do Dazed and Confused!
Would you ever be open to doing a *virtual* session? I’d 100% be down if I didn’t have to travel 1000 miles to Texas haha
Maybe some day!
Same I would love a virtual session
@@gloriapadilla2613 Hey! Due to high demand, I now offer virtual sessions: calebhammer.as.me/
My espresso machine costs $99 and it’s amazing 🤣❤️ $500 is fancyyyyyyy
4:34 - 4:36 - Official birth of the "Weird/Crazy Month" meme. Started by Caleb himself. The delicious irony.
I loved this! It’s good to see he has a financial grip. I didn't get one until graduate school
Between my Starbucks Gold Card and my Starbucks Visa Card, I spend around $80 a month on coffee ☕️. I get free bakery treats as well, using my reward stars. Using a reusable cup earns me 25 stars with each coffee.
That's a lot per month, but good on you for maximizing what you get for that $80.
By the way, do they let you use your reusable cup right now? The Starbucks near me stopped accepting personal cups in 2020 because of covid but i never really heard that they are allowing them again.
@@grungehamster8 Yes they do.
our man Caleb accurately calling the amount of student dept forgiveness.
I stopped going to cafes ever since I watched Graham Stephan. I am ok with Nescafé instant coffee
Good that you talked to him before he even wanted a sparkling truck. 🙂
Good call on the citi double cash card , that’s my one card and I spend a ton of money on it - everything besides my mortgage. 802 credit score and CFP 😂 . Not financial advice
At my job they have a Keurig machine and I got a Keurig at home. That’s helped me save lots of money on coffee.
2024 watching the audits from oldest to newest to get some joke contexts :D
thats awsome he mentioned the double cash card by Citi, I use the same one. Its very legit
So many aspiring actors
Yeah, easier to find online for these kinda thing when first getting started!
It's a show🤑
I thought this video was great. The main confusion for me was that his monthly expenses were $4,200 last month. you forecasted his expenses to only be $1,500 per mont in the future. Where did that extra $2,700 in expenses in the past month go?
The forecast that we did was going to be on a strict monthly budget that he follows, so cutting back on the crazy spending he did in the previous month.
Loved hearing his story!
Man. Making coffee at home is so easy. How can you justify buying coffee routinely.
Dude. Bro! Muscle shirts never go with overalls. Not trying to be the fashion police -- but wow. Keep working that college and with some slight adjustments you're going to do great Gabriel! Good vid!
you should follow up on this dude; he looks to be doing well here
I was really stupid with money in community college. It wasn't til recently I found out what a credit score was. No one taught me these things. Thanks for the videos!
Yeah grade school really should teach these things
He definitely spends wisely aside from the coffee.... which he could cut in half and 1 credit card is great. He's doing well for his age. I agree he should save more.. maybe 10$ a day to start from 5.
I’d like to be on this show as someone who’s getting started in life with their own lawn care business
Come on the show! castingcalebhammer@gmail.com
At a point in time I used to spend 2.5% of my monthly take home on coffee shops. I'm not sure if that is good or not. Cut it down to 0.8% now. Coffee shops is one of those few things that bring me joy in a city.
That is perfectly reasonable amount of money. If it is something that brings you joy - it is a low cost entertainment expense.
I can't focus on what you are saying with this background music
I mean $91 for coffee isn’t the worst, I don’t doubt some of that is social and “fun” going to spend.
This guy is smart I like him
Thank you so much :)
I live in Austin and I buy a gallon worth of Cold Brew concentrate from Barrett's that lasts me for a month. Basically I'm getting really strong, tasty cold brew at about a 1/5 of the normal cost of a latte with similar results.
In college and can’t figure out math! It’s really simple , pay yourself first and don’t carry debt.
21 and not spending 110% of paycheck at bar.... i think hes ok with 10% on coffee
I didn’t know I was living in the reality where Caleb suggests a guest get a credit card! Lol
Imusa Makes a cheap espresso maker I’ve had one for over three years bought it brand new shouldn’t be more than $50
Man super good with his money kudos
Great job
500 dollar espresso machine is not going to make that quality espresso and he's still going to feel inclined to go out and buy cappuccinos because the ones at home suck.
Ten percent is what you should be paying on your car payment/insurance. Not coffee.
I get Keurig pods from Costco. About 39 cents each for the Starbucks ones.
Espresso machines show up at thrift stores all the time.
Watching this on the way to buy myself coffee
My biggest expense is definitely going out but I lie to myself that it's okay because I don't spend on groceries XD
What matters is the % of income!
I will say CAVA, You do get your $$ worth. And the food is decent. He seems like a chill dude.
filed for bakrupcy, split the country, opened a business now retired at 40 😂. When i look back it was my lack of control and all the credit cards, just losing track on dates and paying late fees over the years. I just do cash now and save if i need something not want, those wants and c cards got me . nice show
Hes on the right track !
Yeah, I think with a few tweaks, he will have a great financial future.