This used to be me. Over half of my monthly take home was spent on minimum payments. Over $1,800 a month just towards the car, student loans, credit cards, and personal loans. I quit drinking over a year ago, moved, and was able to pay if all off. Over $50,000. I am so glad I am not in debt anymore.
He’s totally underpaid. It seems that it’s possible both him and his wife are complacent. Underachieving does lead to less stress since less is expected from an employer. It seems like they could easily double their income without a major stress increase.
Hi Caleb! It was nice to see a little different scenario, instead of a 20-something with student loans. Great job! And I hope this guy gets a better paying job, stops spending, and turns his situation around! 😊
I have lived Robert's financial life. When I started paying off that huge debt I felt like I was using a teaspoon as a shovel to dig the grand canyon. 16 years later and I have no debt. Own my home and am on track to retire in the next 10 years at 59. The struggle is real but the debt free lifestyle is so worth the sustained effort. Keep shovelling Robert.
I truly feel that eating out and “convenience grub” as I call it adds up SO MUCH, SO quickly. Everyone: when all else fails, start with eating home and packing lunches / meal prepping. It honestly saves so much. AND it CAN be way healthier! Fatter pockets, not fatter belies 🎉💪🏻
One of the keys to getting out and staying out of debt for sure - unless you truly have money to throw away. Tip for retired seniors who have low income - use the Food Pantry to stretch your food dollars to the max. I work at one 2 days a week and have my food expenditure down to zero. Food prices are becoming ridiculous and eating out beyond budget for many but life can still be great!
I used to spend hundreds of dollars a month on fast food. Hundreds. Taco bell, Wendy's, whataburger, kfc. It was convenient, tasty, and pretty cheap Its VERY HARD to give it up. I'm basically a heavy fast food addict. Now, I've given myself a total of 30 bucks a month for fast food, and I only get taco bell these days. Gets me the fix so I dont go insane,but also reduces the previous expenditure to less than 10%. Anyway, cheers from texas
Meal prepping for a week doesn't have to be that hard! For example, for lunch, if you make a lasagna, you can eat half of it for a week w salads, freeze the other half, and then when you feel like eating lasagna again you can unfreeze the leftovers and have an entire extra week of meals, already prepped and paid for! Soooooo cost effective!
I really appreciate this man being so vulnerable and sharing his story! I would love to see Caleb do these videos with both partners involved. Finances are such a huge factor in any relationship/marriage. With both parties involved, maybe there will be more buy in to tackle these issues.
Good for Robert getting his stuff straightened. Honestly I think his finances reflect the majority of society. Hopefully a few more people will watch this and get on the path to Caleb’s approval.
One of the things I really like about this channel is that it's a piece of opening up the conversation about money matters socially. When I was growing up, asking someone else how much they made or how much they paid for something or anything at all related to expenses and how they deal with debt and finances was super taboo. Like it would be easier to get most people to talk about their sex life. It was always nonsense. Shame is generally a fairly useless emotion. It should only exist in relation to things that cause other people (actual) harm. Everywhere else, it is neurotic and destructive. People benefit from having that taken away. Caleb, I do have a suggestion, though. When talking about situations like these where there are a bunch of vending machines or DoorDash purchases or eating out and you want to recommend that they hold off on those sorts of purchases until they get their debt sorted - show them what their current situation would look like if they had actually already done that. Like, looking forward that can seem like it would suck and the benefit is kind of nebulous. But if you could say "Look, if 30 days ago you swore off these kinds of purchases and you used that money to pay down these debts, you would owe $Y instead of $X. And do you think in that situation you would be regretting not having gone out to eat or hitting the vending machine?" It gets them away from the mindset of having to put up with deprivation and gets them to focus on how good it will feel afterwards, which is much easier to work toward.
Or cost of bringing work food / drinks from home versus buying it from the vending machine. I think it's easy to think it's not costing you that much when you could be saving hundreds from the same or a better product and some reduction in drinking Pepsi etc
Sure it might be embarrassing to air your dirty financial laundry on youtube and open yourself up to criticism, but at the end of the day everyone (including the most critical commenters) respects the people that come on this show for doing what is awkward & difficult to (hopefully) pull themselves out of bad situations or correct bad habits. In the process they definitely help people and can get passed the stage of suffering in silence or denial. There’s always a way out and the gratification of wiping debt away (even small amounts) and feeling unburdened simply cannot be beat.
I learned from financial videos is that many young people spend based on what they feel they deserve not on their paycheck. Spend according to your salary, not on Instagram influencers
@dreamland Do you see how that logic you are describing sets you up for failure? The expectation that you will do better does not always come to fruition.
I've become so much better with money since I've started watching your channel! I also can picture Caleb's sad face in my head if I make a bad money decision..haha
Lol! Same. Every time Caleb gets on someone’s case about how much they are eating out I decide that you know, I actually DO have the energy to cook at home tonight.
Nah, we like looking at boring people's finances too... Just spend a bunch on Uber eats the month you are getting audit and get into an argument over the best food
Thanks for sharing this. I am in the medical department too, and know how stressful it can be. I never thought that those vending machine purchased added up. We don't want crazy spending make more stress than they relieve.
Honestly, they are a hiccup away from things going sideways. They both need to meal prep for the next two years. If they don't make it, they don't eat it. Medium income for Chattanooga is $27,312 a year. So they are doing great for the area. Literally standing in their own way.
Every since I found this channel, I started meal prepping and I am saving so much money! AND I'm eating so much better, it tastes better and it's much more nutritious. Also, easy meals take the same ammount of time than waiting in line for fast food.
that is corporate America. They alway try to pay us less and do more while they expect us to survive on that amount. its crazy time we are in while inflation is going crazy
Me the same. Retired at 56 in 2017 My highest cc balance was $27,500. At retirement it was $11,000. Now $0 and cut up. Now $44k in savings. Life is good.
Appreciate your transparency Robert! I hope you get your wife on board and the two of you kick this debt's keister together! The step is hard BUT the steps following are hard too. You've got this!
I really get where this guy's at. In my first few years of work, I let debt get away from me. Everything felt like it was fine, because all of the bills were paid, but the overall credit card debt neared $30k along with two vehicle loans. Discipline is a problem you can't earn your way out of. I'm thrilled that he's starting off, but he has a long way to go to build a budget and stick to it.
I can't agree more. I am a bit older and always thought that making more money was the solution to getting out of debt, but your life grows with your increased salary. It doesn't matter what you make if you don't have financial discipline, you will always be poor.
We’ve all been there. There was one Christmas I got 3 overdraft fees in a row. That was it for me. I thought, I make good money, where is it all going? That’s when I started budgeting. I found out I was blowing a lot of money at the mall, eating it, wearing it etc. Once I got on the budget I was able to pay off my school loans and soon my car will be paid off. No shame bud. No shame.
@@esonon5210 well I hope he realizes this soon, along with his wife. They both need to pull there fingers out of their arses and get real I honestly couldn't even finish it. I think it reminds me of my homeless friend. It's all fun and games until you're living out of your car.
Seems like a good dude, and obviously needs some help with direction. Though I died a little when he was talking about a shift differential like it's rocket science.
I hope Robert looks at his overall health and not just his financial health. All that fast food is not doing him any favors and he will pay a much bigger price later on. I have been where he is so I know how hard and damaging this is.
Im so glad for Dave Ramsey mentioning you or I would never of found your channel, I’m am enjoying it so much, this was my hubby and I 20 plus years ago, we’re almost 60, and life is sooooo much better, hopefully these ppl will be just as successful with their finances.😊
Omgg, Caleb would crucify us when he finds out we have a different student loan system here and most of us on Plan 2 (in our 20s) have no intention to pay it off! It doesn’t make sense to. He’d also be shocked about our low income and retirement in comparison to US states. I often feel like the difference between UK and US is so vast that a financial audit would be like almost unfair/difficult idk 😂💕
Subscribed Caleb because I like the financial sense you are trying to teach these people. Personal finance should be taught starting in the 7th grade lasting thru College as Mandatory classes. So many financially illiterate people in the world today.
I'm confused on the math with this one... where'd the extra $1k come from for minimum payments? The right column minimums added up to $1,250 with mortgage adding $990 to get $2,235 which would be about 45% of their take home. A little smaller of a pill to swallow if so!
Nice find. Yes their minimum payments should be 1140+990 for the next month. Even if they spend another $1300 on utilities, gas and food, they should still be able to pay off another 1500 of debt every month.
I visited vending machines way too much! I started buying soda (on sale) at the grocery store and bringing one can to work for lunch. $1.50 at the vending machine but $0.33 from the grocery store. and for food I'd buy Oreo's Chips Ahoy, Doritos, etc, but now I bring in apples! Snacks went from being $2 to $0.75. Replacing these vending machine habits has helped, little by little, over time.
Exactly! I tried budgeting but my husband wasn’t interested. Our finances were a mess and he didn’t want to know. One of the contributing factors to our divorce.
I am slowly digging myself out of my debt. I saved up a small emergency fund that I am using for a deductible for a vehicle repair. It is a nice feeling not having to put in on my credit card. Still, it sucks having to cut back on my credit card payments to rebuild my emergency fund.
Love the videos Caleb. I like hearing about peoples lives and struggles but I liked how the older videos were more structured. I think it helps get down to the root of peoples problems more too. Like your old intro question of how educated people believe they are in finances and they’re income at the beginning of the episode.
Omg just looked at my bank statement from last week for vending machines/cafes/coffee shops and it was freaking $25. I’ll buy bulk snacks from the store from now on and keep them in my lunch box and work bag.
I had an artery blockage just listening to the fast food choices You can pack a salad with lean chicken for perhaps $1 or so and live much longer And some decently healthy drinks I buy my favorite juice or tea by the gallon and refill coke bottles or such Cost is nickles or dines per drink.
This episode gave me anxiety 😩 this guy knows he has poor spending habits but I commend him for blasting himself like this. The eating out is killer… New sub here Caleb! Ericka Williams at The Classy Climb sent me over. Loving the videos!
I have watched a lot of these now and pretty much everyone without fail is just out of control spending eating out and coffee.......People are kiling themselves and paying richly for it!
The best way for both partners to get on board is creating a joint vision and then creating a plan to work towards it. I think the $1000 is just meant to act as a mental help rather than actually acting as a emergency fund.
The thing I find shocking about watching your videos is how easy it is to get a mortgage in the USA. Quite a few guests that had horrible debt prior to a new home, very little income, and little financial knowledge... yet somehow secured a mortgage.
We are a product of our society. Companies prey on people like this gentleman. His ignorance of money and how it works is a golden ticket for companies wanting to take his money.
"I think we are in pretty okay shape" *Is on the verge of going to collections, is over-drafting accounts, and is unable to make minimum payments on cred cards with thousands on the balance*
While DR's $1000 starter emergency fund, and yes he calls this a starter emergency fund, is low, most people miss the point of why he set it there. The vast majority of people he helps can barely make minimum payments each month. The $1000 is a quick and easy "win" that helps build confidence in being able to do the program. At least 42% of Americans have less than $1000 saved. He often admits that if something larger comes along, then you will have to hit pause and cash flo the emergency, then resume paying off the debt.
51k per year did I hear that right? For an mri /radiologist tech?? That seems terribly low paid? I’m in Australia and here that would be at least 90+k per year - is that what he said?
You CANNOT have a successful marriage if you are not both involved with the family finances. Yes, life is busy and it is just "easy" to delegate one person to handle it. This is BOTH of your financial present and future though. If the one that handles the money does "retail therapy" then debt can easily get out of control without the other spouse knowing it. I see SO MANY coworkers spending $10 a day or more on lunch. I rotate between ham/turkey/tuna fish sandwiches and hot dogs for lunch at work each week. I can eat lunch for $3 a day by the time you figure chips and a drink that are also brought from home. $50 vs $15 is $35 savings a week for 50 weeks is $1,750 a year...which goes to my house payment as an extra principal payment.
It's always the same excuse that last month was an anomaly Every month is an anomaly for things like new tires, etc. Stuff always happens That's why you keep a cushion
That Best Buy credit card story he gave is what I wish everyone could watch when learning about how predatory credit cards are - IF YOURE WONDERING WHY A COMPANY WIRH A CREDIT CARD IS WILLING TO GIVE YOU SUCH A GREAT DEAL (savings, points, miles, etc) THAT IS WHY!!!!!! THEY ALMOST ALWAYS WIN
I love the 0% interest that they offer. It helped me build my credit when I was younger. I had half the amount to lay it off save up, bought a TV with 24 month financing and invested that amount I had saved up. I made 30% off that stock in 9 months, and set my account to pay off the TV in 23 months. It worked out great.
The BEST advice for Robert would have been 1) cut his eating out and vending machine purchases drastically! Down to zero might be setting himself up for failure. He could budget a little bit for take out, but this should be in conjunction with, 2) either picking up an extra shift at work or going to work at another hospital/clinic. His earning potential is high, so stupid “side hustles” don’t make sense for him. His wife? Yes. 3) other unnecessary expenses such as the gardener, subscriptions. All that should go. These three things are so obvious. Caleb could have thought of them if he wasn’t too busy letting his mind get blown over and over.
If you have a mortgage you must have homeowners insurance or the note will be called doing payable within 30 days so you have to have a roof that passes inspection
For years I’ve been saying that eating out is a pandemic and videos like this keep proving it. People spend between $10-30 on food/drinks/snacks per day which is $300-900/month. I used to do it & I’ve witnessed many others do it. I’d argue eating out is the true culprit of most Americans financial problems - and it ruins your body too, not just your wallet.
Facts I looked at my bank statement it showed that I spent $350 on eating out in one month. I stoped doing that and put that in Index funds. Well let's say I'm doing okay with that move
Maybe your wife can help you prepare food and drink to bring to work? I assume with that salary she won't be working full time. At least until she might find a better paying (and probably long hour) job.
I was glad to hear you advice him to discuss with his wife about getting a higher paying job. She needs to get a better paying job before he takes on a second job.
How do people not know their income? 🤯 Also, why would earning 25k/year be wonderful? Sounds like he babies her. 25k is nothing. You did great with this one Caleb!
@@potato1084 At her age if shes been doing fast food for this long she could have easily become a manger. Grocery stores pay more and offer more hours. There's amazon warehouse work. If shes working full time and only making $25k a year she's wasting her time, there are so many better options out there.
I worked night shifts in a veterinary ER when I was in grad school. We had the same weird pay breakdown and everything. I’d bring a 12 pack of drinks in my car, so no vending machines, and I’d eat at home right before my shift. I wasn’t hungry (and had no time) to eat during my overnight shifts, so I would grab another meal at home after work. I’d usually have string cheese in the fridge at work in case I needed a quick snack. That was pretty much all I had time for.
8:55 I think most banks date charges from the whole weekend for the following Monday or next business day. My statements always have the weekend's worth of transactions finish processing then, so it looks like a ton of transactions in one day.
Dude, Robert, as someone who is in healthcare trying to pay off debt, work that OT! The second jobs/side hustles aren’t even worth it compared to what you can make picking up extra hours! (If that’s available to you.)
Remember, one of the first 50k subs here with win 1k! This will be announced the day we hit 50k.
I rather get an audit on Calebs financials at 50k subs 😂
@@georuiz28 That will be at 100k :)
0.002% chance! I already quit my job and will be living large on that 1k!
Subbed. Dunno why I didn’t before because I watch every video since I found you 3 weeks ago, but hooray contest!
Love your new set! You are so kind and give wonderful advice. Take care.
This used to be me. Over half of my monthly take home was spent on minimum payments. Over $1,800 a month just towards the car, student loans, credit cards, and personal loans. I quit drinking over a year ago, moved, and was able to pay if all off. Over $50,000. I am so glad I am not in debt anymore.
I’m so happy for you ☺️
Woooo!
Party time brother! Great job!
You deserve the peace you’re experiencing. (Compared to being $50k in debt)
I just stumbled upon this video and I’m in the same or worse situation. Takes guts to publicly do this. Hope it goes well.
That’s astronomical for a one year correction! Awesome!
Same here so glade to have gotten out of debt. I was there at one point too and my income was definitely not increasing at the time.
I’m an MRI tech, and I can tell you that 54k is a terrible salary
FOR NIGHT SHIFT?!??!! This guy needs a new employer
I was thinking the same thing. I dunno if its his employer or his area or what, but that salary for MRI tech is really low.
How hard is to become an MRI tech? Sounds like an interesting career
He’s totally underpaid. It seems that it’s possible both him and his wife are complacent. Underachieving does lead to less stress since less is expected from an employer. It seems like they could easily double their income without a major stress increase.
He lives in Georgia or TN, probably pay is lower in rural areas
That's the area and employer. Chattanooga is really good for a few industries but medical pay is very low and it's a pretty poor area.
Like the attitude of this guy. No excuses, just explanations. Hope he makes it
Same😊
Hi Caleb! It was nice to see a little different scenario, instead of a 20-something with student loans. Great job! And I hope this guy gets a better paying job, stops spending, and turns his situation around! 😊
Agreed
I also prefer older people with more of a financial history.
Yes! I agree. Need more like this to relate to.
I have lived Robert's financial life. When I started paying off that huge debt I felt like I was using a teaspoon as a shovel to dig the grand canyon. 16 years later and I have no debt. Own my home and am on track to retire in the next 10 years at 59. The struggle is real but the debt free lifestyle is so worth the sustained effort. Keep shovelling Robert.
I cannot tell you how much I appreciate that. Congratulations on your success! I plan on joining you.
Great analogy 😊
@@mmp495 Congratulations. The best things in life are debt free! :)
@@rob3743 How is the journey going Rob? Hope you are chipping away towards your debt free future!
If it took 16 years you could've defaulted and had a clean record sooner.
I truly feel that eating out and “convenience grub” as I call it adds up SO MUCH, SO quickly. Everyone: when all else fails, start with eating home and packing lunches / meal prepping. It honestly saves so much. AND it CAN be way healthier! Fatter pockets, not fatter belies 🎉💪🏻
We'll said!
One of the keys to getting out and staying out of debt for sure - unless you truly have money to throw away. Tip for retired seniors who have low income - use the Food Pantry to stretch your food dollars to the max. I work at one 2 days a week and have my food expenditure down to zero. Food prices are becoming ridiculous and eating out beyond budget for many but life can still be great!
I used to spend hundreds of dollars a month on fast food. Hundreds. Taco bell, Wendy's, whataburger, kfc. It was convenient, tasty, and pretty cheap
Its VERY HARD to give it up. I'm basically a heavy fast food addict.
Now, I've given myself a total of 30 bucks a month for fast food, and I only get taco bell these days. Gets me the fix so I dont go insane,but also reduces the previous expenditure to less than 10%. Anyway, cheers from texas
I agree. £100s can disappear just from eating out.
Meal prepping for a week doesn't have to be that hard! For example, for lunch, if you make a lasagna, you can eat half of it for a week w salads, freeze the other half, and then when you feel like eating lasagna again you can unfreeze the leftovers and have an entire extra week of meals, already prepped and paid for! Soooooo cost effective!
I really appreciate this man being so vulnerable and sharing his story! I would love to see Caleb do these videos with both partners involved. Finances are such a huge factor in any relationship/marriage. With both parties involved, maybe there will be more buy in to tackle these issues.
Good for Robert getting his stuff straightened. Honestly I think his finances reflect the majority of society. Hopefully a few more people will watch this and get on the path to Caleb’s approval.
For sure!!
One of the things I really like about this channel is that it's a piece of opening up the conversation about money matters socially. When I was growing up, asking someone else how much they made or how much they paid for something or anything at all related to expenses and how they deal with debt and finances was super taboo. Like it would be easier to get most people to talk about their sex life. It was always nonsense. Shame is generally a fairly useless emotion. It should only exist in relation to things that cause other people (actual) harm. Everywhere else, it is neurotic and destructive. People benefit from having that taken away.
Caleb, I do have a suggestion, though. When talking about situations like these where there are a bunch of vending machines or DoorDash purchases or eating out and you want to recommend that they hold off on those sorts of purchases until they get their debt sorted - show them what their current situation would look like if they had actually already done that. Like, looking forward that can seem like it would suck and the benefit is kind of nebulous. But if you could say "Look, if 30 days ago you swore off these kinds of purchases and you used that money to pay down these debts, you would owe $Y instead of $X. And do you think in that situation you would be regretting not having gone out to eat or hitting the vending machine?" It gets them away from the mindset of having to put up with deprivation and gets them to focus on how good it will feel afterwards, which is much easier to work toward.
👏🏻👏🏻
Or cost of bringing work food / drinks from home versus buying it from the vending machine. I think it's easy to think it's not costing you that much when you could be saving hundreds from the same or a better product and some reduction in drinking Pepsi etc
I’m really thankful for these videos! It’s made me look at the finances with my husband a lot closer and help us plan for the future. Thank you Caleb!
That’s amazing 🤩 thank you!
Sure it might be embarrassing to air your dirty financial laundry on youtube and open yourself up to criticism, but at the end of the day everyone (including the most critical commenters) respects the people that come on this show for doing what is awkward & difficult to (hopefully) pull themselves out of bad situations or correct bad habits. In the process they definitely help people and can get passed the stage of suffering in silence or denial. There’s always a way out and the gratification of wiping debt away (even small amounts) and feeling unburdened simply cannot be beat.
I respect the heck out of him!
I learned from financial videos is that many young people spend based on what they feel they deserve not on their paycheck. Spend according to your salary, not on Instagram influencers
Good point
@dreamland Do you see how that logic you are describing sets you up for failure? The expectation that you will do better does not always come to fruition.
I've become so much better with money since I've started watching your channel! I also can picture Caleb's sad face in my head if I make a bad money decision..haha
I love that 😂 very happy to hear!
Same hahaha
I hear “ oh my dude, my dude!” And then I put the credit card DOWN
I definitely second that
Lol! Same. Every time Caleb gets on someone’s case about how much they are eating out I decide that you know, I actually DO have the energy to cook at home tonight.
I wanted to be on the show but realized I may be too financially boring after these last couple of videos 😂
,,same,I would had being a good. Guest a few years ago,but now my only payments is my rent which is 15% of my income and a 25$ phone bill lol.
Hey the people who come in confident and probably do this to ego stroke still get ripped apart in some aspects
Nah, we like looking at boring people's finances too... Just spend a bunch on Uber eats the month you are getting audit and get into an argument over the best food
Yesterdays was insane
Me too.
Thanks for sharing this. I am in the medical department too, and know how stressful it can be. I never thought that those vending machine purchased added up. We don't want crazy spending make more stress than they relieve.
Honestly, they are a hiccup away from things going sideways. They both need to meal prep for the next two years. If they don't make it, they don't eat it. Medium income for Chattanooga is $27,312 a year. So they are doing great for the area. Literally standing in their own way.
Finally someone older yayyyy thank you
If I could like over and over, I would :)
Every since I found this channel, I started meal prepping and I am saving so much money! AND I'm eating so much better, it tastes better and it's much more nutritious. Also, easy meals take the same ammount of time than waiting in line for fast food.
Dude makes 50k a year on a night shift, there are people making way more than $25 an hour doing much less tedious work. That’s insane..
that is corporate America. They alway try to pay us less and do more while they expect us to survive on that amount. its crazy time we are in while inflation is going crazy
I make way less doing way more trust me it's hard out there
I just found your channel. I was 30k in credit card debt in the 90's and retired at 57 and single. It's not too late to change.
how old are you in the 90s when you were that deep in debt ?
Me the same.
Retired at 56 in 2017
My highest cc balance was $27,500.
At retirement it was $11,000.
Now $0 and cut up.
Now $44k in savings.
Life is good.
Retired with 44k in savings. Okay
Anyone else find Caleb recently and cant get enough?!
Appreciate your transparency Robert! I hope you get your wife on board and the two of you kick this debt's keister together!
The step is hard BUT the steps following are hard too. You've got this!
I really get where this guy's at. In my first few years of work, I let debt get away from me. Everything felt like it was fine, because all of the bills were paid, but the overall credit card debt neared $30k along with two vehicle loans. Discipline is a problem you can't earn your way out of. I'm thrilled that he's starting off, but he has a long way to go to build a budget and stick to it.
Also, the new audio setup is fantastic! Great upgrade
I can't agree more. I am a bit older and always thought that making more money was the solution to getting out of debt, but your life grows with your increased salary. It doesn't matter what you make if you don't have financial discipline, you will always be poor.
Caleb, your growth has been incredible but well deserved! We love the content, keep it up!!!
Thanks so much!!
Receptive and takes the advice seriously, I think he’ll get his way out of this one. Best of luck.
Agreed!
We’ve all been there. There was one Christmas I got 3 overdraft fees in a row. That was it for me. I thought, I make good money, where is it all going? That’s when I started budgeting. I found out I was blowing a lot of money at the mall, eating it, wearing it etc. Once I got on the budget I was able to pay off my school loans and soon my car will be paid off. No shame bud. No shame.
Everything about his financial situation is an utter mess but I appreciate his humor and his willingness to do better.
SAME!!
Nah him laughing like a naughty little boy was annoying. Like this is your life, this doesn't sound funny or fun. Get serious!
@@80sgirlwhamduran its a coping mechanism. He’s managing the reality of his stupid decisions one step at a time.
@@esonon5210 well I hope he realizes this soon, along with his wife. They both need to pull there fingers out of their arses and get real
I honestly couldn't even finish it. I think it reminds me of my homeless friend. It's all fun and games until you're living out of your car.
@@80sgirlwhamduran Well they volunteered to be on this show so they at least have some sort of self awareness.
The root of 90% of America’s financial problems….fast food.
Seems like a good dude, and obviously needs some help with direction.
Though I died a little when he was talking about a shift differential like it's rocket science.
I hope Robert looks at his overall health and not just his financial health. All that fast food is not doing him any favors and he will pay a much bigger price later on. I have been where he is so I know how hard and damaging this is.
Doctors bills
Im so glad for Dave Ramsey mentioning you or I would never of found your channel, I’m am enjoying it so much, this was my hubby and I 20 plus years ago, we’re almost 60, and life is sooooo much better, hopefully these ppl will be just as successful with their finances.😊
Adore this series, teaches me so much about finance. You need some uk based viewers on the show too!
Thank you so much :) And I'd love to!
Omgg, Caleb would crucify us when he finds out we have a different student loan system here and most of us on Plan 2 (in our 20s) have no intention to pay it off! It doesn’t make sense to. He’d also be shocked about our low income and retirement in comparison to US states. I often feel like the difference between UK and US is so vast that a financial audit would be like almost unfair/difficult idk 😂💕
Spreadsheets are cool, but I recommend using something that doesn't need to be manually updated all the time. I like Mint a lot.
15:28 Best part right there. I live for the flying Dave Ramsey.
😂
Subscribed Caleb because I like the financial sense you are trying to teach these people. Personal finance should be taught starting in the 7th grade lasting thru College as Mandatory classes. So many financially illiterate people in the world today.
I'm confused on the math with this one... where'd the extra $1k come from for minimum payments? The right column minimums added up to $1,250 with mortgage adding $990 to get $2,235 which would be about 45% of their take home. A little smaller of a pill to swallow if so!
Nice find. Yes their minimum payments should be 1140+990 for the next month. Even if they spend another $1300 on utilities, gas and food, they should still be able to pay off another 1500 of debt every month.
I visited vending machines way too much! I started buying soda (on sale) at the grocery store and bringing one can to work for lunch. $1.50 at the vending machine but $0.33 from the grocery store. and for food I'd buy Oreo's Chips Ahoy, Doritos, etc, but now I bring in apples! Snacks went from being $2 to $0.75. Replacing these vending machine habits has helped, little by little, over time.
Caleb I watch your content daily w my gf and I can't thank you enough for creating financial content
And thank you for your support!
Obsessed with the new setup! That’s awesome
Thank you so much!
They needed to be evaluated as a couple. I don't give them much hope unless they can pull together as a team.
Exactly! I tried budgeting but my husband wasn’t interested. Our finances were a mess and he didn’t want to know. One of the contributing factors to our divorce.
This is an average American who lives paycheck to paycheck bank account thanks for sharing
I am slowly digging myself out of my debt. I saved up a small emergency fund that I am using for a deductible for a vehicle repair.
It is a nice feeling not having to put in on my credit card. Still, it sucks having to cut back on my credit card payments to rebuild my emergency fund.
Keep going... you are on the right path and it only gets better. Being debt free is awesome.
Food is always the main thing in all these videos.
We love our food!
Love the videos Caleb. I like hearing about peoples lives and struggles but I liked how the older videos were more structured. I think it helps get down to the root of peoples problems more too. Like your old intro question of how educated people believe they are in finances and they’re income at the beginning of the episode.
The editing at 8:30 - 8:40 was masterful. I especially liked the "fried chicken" cut.
Are we just going to brush over the fact that this guy makes 55K a year and has a built out studio in his home?!
What’s done is done I guess
@@CalebHammer what Is done shall be undone lol
First thing that came to my mind. Big red flag. I smell divorce
Well i didnt hear anything about kids. That alone frees up a ton of money for random & whimsy.
55k is good. That's like 70k+ gross.
Omg just looked at my bank statement from last week for vending machines/cafes/coffee shops and it was freaking $25.
I’ll buy bulk snacks from the store from now on and keep them in my lunch box and work bag.
I had an artery blockage just listening to the fast food choices
You can pack a salad with lean chicken for perhaps $1 or so and live much longer
And some decently healthy drinks
I buy my favorite juice or tea by the gallon and refill coke bottles or such
Cost is nickles or dines per drink.
This episode gave me anxiety 😩 this guy knows he has poor spending habits but I commend him for blasting himself like this. The eating out is killer… New sub here Caleb! Ericka Williams at The Classy Climb sent me over. Loving the videos!
I have watched a lot of these now and pretty much everyone without fail is just out of control spending eating out and coffee.......People are kiling themselves and paying richly for it!
these are such difficult conversations to hear... i can't imagine having them/being invited. 😅 i appreciate the honesty from your guests.
The best way for both partners to get on board is creating a joint vision and then creating a plan to work towards it.
I think the $1000 is just meant to act as a mental help rather than actually acting as a emergency fund.
The thing I find shocking about watching your videos is how easy it is to get a mortgage in the USA. Quite a few guests that had horrible debt prior to a new home, very little income, and little financial knowledge... yet somehow secured a mortgage.
Cranking the quality content out! Go Caleb!
Thanks :)
We are a product of our society. Companies prey on people like this gentleman. His ignorance of money and how it works is a golden ticket for companies wanting to take his money.
"I think we are in pretty okay shape" *Is on the verge of going to collections, is over-drafting accounts, and is unable to make minimum payments on cred cards with thousands on the balance*
Hey Caleb! Can you do a video talking about life insurance, whole vs term?
You should watch Dave ramsey videos on this.
Turns out. He has a popular financial podcast!
kidding 🤣
While DR's $1000 starter emergency fund, and yes he calls this a starter emergency fund, is low, most people miss the point of why he set it there. The vast majority of people he helps can barely make minimum payments each month. The $1000 is a quick and easy "win" that helps build confidence in being able to do the program. At least 42% of Americans have less than $1000 saved. He often admits that if something larger comes along, then you will have to hit pause and cash flo the emergency, then resume paying off the debt.
I think it would've been interesting if you added up all those vending machine purchases. See if he knew how much they were hurting him.
The editing 🤭 clean audio. Very nice
Thanks!
Love the new set up!! Keep killing it Caleb!
Love the new set man!
Also glad you got your audio worked out, keep up the good work man!
I like to see all ages of people audited, not just giggling millennials who have wealthy parents as back up.
that man is a millennial lol
@@dirtyxbl Where did I say that he wasn't???
Props to him for being willing to share.
Studio is SICK!
Both of us I hope :)
@@CalebHammer Yes, you both had great setups!!
Don't worry, Robert Baratheon will get through this and be king once again!
I respect this comment.
51k per year did I hear that right? For an mri /radiologist tech?? That seems terribly low paid? I’m in Australia and here that would be at least 90+k per year - is that what he said?
You CANNOT have a successful marriage if you are not both involved with the family finances. Yes, life is busy and it is just "easy" to delegate one person to handle it. This is BOTH of your financial present and future though. If the one that handles the money does "retail therapy" then debt can easily get out of control without the other spouse knowing it.
I see SO MANY coworkers spending $10 a day or more on lunch. I rotate between ham/turkey/tuna fish sandwiches and hot dogs for lunch at work each week. I can eat lunch for $3 a day by the time you figure chips and a drink that are also brought from home. $50 vs $15 is $35 savings a week for 50 weeks is $1,750 a year...which goes to my house payment as an extra principal payment.
It's always the same excuse that last month was an anomaly
Every month is an anomaly for things like new tires, etc.
Stuff always happens
That's why you keep a cushion
He is a nice and honest guy. He only need some determination.
That Best Buy credit card story he gave is what I wish everyone could watch when learning about how predatory credit cards are - IF YOURE WONDERING WHY A COMPANY WIRH A CREDIT CARD IS WILLING TO GIVE YOU SUCH A GREAT DEAL (savings, points, miles, etc) THAT IS WHY!!!!!! THEY ALMOST ALWAYS WIN
I love the 0% interest that they offer. It helped me build my credit when I was younger.
I had half the amount to lay it off save up, bought a TV with 24 month financing and invested that amount I had saved up.
I made 30% off that stock in 9 months, and set my account to pay off the TV in 23 months. It worked out great.
The BEST advice for Robert would have been 1) cut his eating out and vending machine purchases drastically! Down to zero might be setting himself up for failure. He could budget a little bit for take out, but this should be in conjunction with, 2) either picking up an extra shift at work or going to work at another hospital/clinic. His earning potential is high, so stupid “side hustles” don’t make sense for him. His wife? Yes. 3) other unnecessary expenses such as the gardener, subscriptions. All that should go. These three things are so obvious. Caleb could have thought of them if he wasn’t too busy letting his mind get blown over and over.
If you have a mortgage you must have homeowners insurance or the note will be called doing payable within 30 days so you have to have a roof that passes inspection
i just about DIED when he forgot the word for budget! i know it was a slip but damned if that doesn't say everything! lmfao
Me too. lol
loving the new setup!
These episodes are more horrifying than a horror movie!
Spook!
3:05 .5 second response "my wife." He wasn't kidding.
Hey! That’s my town! 😃 woop woop
I watch Caleb videos to keep my spending under control, stay to the budget, I hope they all do better and completely understand how they get there.
For years I’ve been saying that eating out is a pandemic and videos like this keep proving it. People spend between $10-30 on food/drinks/snacks per day which is $300-900/month. I used to do it & I’ve witnessed many others do it. I’d argue eating out is the true culprit of most Americans financial problems - and it ruins your body too, not just your wallet.
I think ppl only eat out so much bc everyone is overworked and tired. I would argue THAT is the actual problem
Facts I looked at my bank statement it showed that I spent $350 on eating out in one month. I stoped doing that and put that in Index funds. Well let's say I'm doing okay with that move
@@erickn7985 “well let’s say I’m doing okay with that move” 😂 😂 but fr that’s dope man
He should look into travel contracts to pay off that debt quicker
Maybe your wife can help you prepare food and drink to bring to work? I assume with that salary she won't be working full time. At least until she might find a better paying (and probably long hour) job.
Love to see how the channel has grown man, keep up the high quality financial content!
Would you ever do an anonymous interview? Where you hid the persons face and real name but they still get interviewed?
I would be down for this
If he does, we will all know it was you
Now we'll just assume every anonymous interview is with you
I agree I would do an anonymous interview.
@@case1516 this is the internet, this comment will be forgotten about in a few days
huge red flag on the wife saying if the bills are paid that's good enough....
I was glad to hear you advice him to discuss with his wife about getting a higher paying job. She needs to get a better paying job before he takes on a second job.
How do people not know their income? 🤯 Also, why would earning 25k/year be wonderful? Sounds like he babies her. 25k is nothing. You did great with this one Caleb!
Yeah 25k is like $12/hr... fast food money
Exactly I would definitely tell my significant other hey, get your wage up right now💀😂😂
@@erickn7985 If you have no degree and work in retail you’re kinda stuck that way? You don’t seem to know what it’s like. Retails a trap. 😂
@@potato1084 Amazon and other warehouses pay 18+. There are even work at home customer service jobs that pay similar or more!
@@potato1084 At her age if shes been doing fast food for this long she could have easily become a manger. Grocery stores pay more and offer more hours. There's amazon warehouse work. If shes working full time and only making $25k a year she's wasting her time, there are so many better options out there.
Dude gotta start eating at home and packing his lunch
I worked night shifts in a veterinary ER when I was in grad school. We had the same weird pay breakdown and everything. I’d bring a 12 pack of drinks in my car, so no vending machines, and I’d eat at home right before my shift. I wasn’t hungry (and had no time) to eat during my overnight shifts, so I would grab another meal at home after work. I’d usually have string cheese in the fridge at work in case I needed a quick snack. That was pretty much all I had time for.
Overdraft fee was 15% of his last balance. Brutal!
:((((
I'd like to see him and her episodes. They never seem to have all their information for the whole family.
LMFAO gave a thumbs up for the face closeups
I love Caleb's giggle :] it always makes me smile haha
This guy seems so pleasant! If I need an mri I want him in charge!
Agreed :)
8:55 I think most banks date charges from the whole weekend for the following Monday or next business day. My statements always have the weekend's worth of transactions finish processing then, so it looks like a ton of transactions in one day.
Dude, Robert, as someone who is in healthcare trying to pay off debt, work that OT! The second jobs/side hustles aren’t even worth it compared to what you can make picking up extra hours! (If that’s available to you.)
2/3 my take home is what I’m debating for a mortgage. It’s too high for my comfort. I can’t believe his debt minimum payments is that much!
Good for him for getting started and keep going!