She Keeps Choosing Debt Over Work | Financial Audit
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- Опубликовано: 20 сен 2024
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Thank you caleb, I've been watching your videos for a year now and am happy to say at the age of 23 I'm completely dept free and I would not be here if It was not for you. I also have a fully funded emergency fund! I have never had this much money in my life and cannot wait to keep growing it. I would not be here if not for you! Your videos really were the push I needed to pay off over 12k in debt.
(Before anyone freaks out the 10$ was taken from my budgeted fun/entertainment money)
Wow thank you so much ❤️❤️ you’re doing amazing dude!!!
Here here!
@v-2010 I completely agree! I paid off my car already but am still paying off my house. I bought at a bad time so my interest rate is at 6%. I am paying a little more than the minimum payment and am hoping to refinance next year to hopefully get it lower. It has been such an experience becoming debt free. If I account .y partners debt as well we paid off about 26,000 between last year and now. Literally having no fun and just focusing on the debt. I am still learning and was beginning to look into high yield savings accounts because I'm not really sure where to go from here. Maybe speaking to a financial counselor is next?
6% interest rate for a mortgage?! Yikes hopefully the monthly payments aren’t killing you
@MR-mr4tz yeah the market isn't the best here/rn. The monthly payments are pretty high but I do hope to refinance later. I've seen some people with 12% so I try not to complain about it😭 me and my partner both are able to work so it's doable for us right now but it's about 40% of my income just for necessity (mortgage and bills ) ideally I would like to either make more or get lower payments
It’s 11 o’clock. I don’t know where you are, but I’m watching Financial Audit.
I bring my headphones to work just to watch these episodes
9:00 here and I’m here for it 🙌🏼 love financial audit!
Somehow listening to financial audit helps me rest my mind in between work LOL
Retired & watching Financial Audit. Love it.
4:13pm here! 🏴
The hardest part about this is, she had free housing for 6 years. That’s the type of life changing event that if done right, even in a low paying industry, she could have loaded up her retirement accounts, saved for a down payment for a house and then coasted the rest of her life doing literally anything just to cover expenses.
Sadly, it was a squandered opportunity.
@@dreamchaser5758 agreed, every dollar left after expenses should have went to saving/retirement/investing. she really screwed herself big time
I made the same mistake as a young man. Wish I could turn back the clock but there's still time, and it's a lesson I'm going to be sure to impart on my kids.
@@Redoutside Living Below your means is an acquired habit. Very hard to do - but once you get in that state of mind the rewards come very quickly. She also has a boyfriend so it complicates things.
She made even less before this job. Maybe not a lot of opportunities in a small town and if that's your world you may not think much beyond your town.
i hope she sees this. i used to be an underpaid nanny. the family told me i was supposed to take care of my own taxes but that’s simply not true. nannies are not contractors. i’m now nannying as a w2 household employee and have taxes with held which is the family’s obligation. there are apps like ‘nanny poppins’ they can use to get it set up in your state and they automatically calculate the taxes and provide contracts to protect yourself. the family could actually get in trouble for paying out this way
edit: working in daycares and schools kind of sucks bc pay and conditions and emotional toll. i found two families from the school who treat me great and pay what i actually deserve. hope she gets there
They don't have to W2 you. They can 1099 you.
You can not get in trouble for contracting someone for labor.
@@andraconstantin9459right but they would actually have to provide you with a 10-99 and many families don’t
They don’t have to w-2 you, they can give you a 1099. This is where, from my understanding, having an LLC benefits because they pay the LLC and you subtract all your work expenses.
@@Mrs.SamiSunshine No. As household employees, nannies are to receive a W2, and NOT a 1099.
She needs to abandon the whole child care thing. It’s keeping her back and doesn’t pay crap
OR..or...she needs to land a one of the many celebs that live in Montana. That could be sweet, probably includes room and board.
Yeah but she seems to lack ambition and a sense of "direction"
@@WhiskeyCuriousIt's just that easy!
@@346azulexactly
Which is insane because childcare is HARD. I worked at a daycare while I was in college (I have an engineering degree) and hands down the daycare job was more difficult than any of my actual coursework.
I think its a good move by Caleb for reimbursement of his guest travel to a certain point. Some of his guest clearly can't afford things and he can write if off as a business expense
he makes money off them, it's the very least he can do
@@biigsmokeebig facts
@@biigsmokee If you willingly decide to go there, he owes you nothing. It's up to you to decide.
I was curious and looked on his website a month or so ago and he charges $700, unless it’s changed since, for a private audit. Maybe these RUclips audits are free and they are only paying for expenses to get there? He has said before if you are in the area, apply to come on. If you are already in the area you’re only paying for gas to get there. It does seem wrong for him to willingly allow people to go into more debt traveling to the show, BUT these people are adults and aren’t being forced to do anything they don’t want to soooooooo…
100% agree. He’s making huge amounts of money turning them into content, the least he can do is reimburse their travel.
I used to be a *career nanny* and it was my first full-time job.💛
If she loves it and comes to a place like LA, you can easily make *6-figures* (with her experience), not to mention health benefits, free meals (this helps), and often 401k matching. And it's high demand, so you can be selective of what family you want to work with.
in NYC too
Both LA +NYC are HCOL areas, would the income adequately offset that. Not to mention the psychological impact of such a transition
@@dreamchaser5758 probably not because right now her rent is free. But she should definitely market herself better and try to go with richer families or open an inhome daycare or something that would make her more than $15/h...
@@Thiccolofor real. The UES families pay BANK for nannies. I considered going into it for a bit.
@dreamchaser5758 as someone who's considered it and lives in NYC off less money than many nannies make here, yes, it would offset the cost of living. Rent is by far the highest, but without having a car, the other expenses aren't that bad.
She should become a pediatric nurse. She can get a nursing degree in community college and then get a job with tuition reimbursement to finish her BSN.
She should but nursing takes a lot of schooling and exam taking, and those instructors don’t take any excuses. She can’t even stay at a job when she’s stressed, and nursing is STRESSFUL
@@MM91845 good point
I’m a respiratory therapist and think she would be great as a nurse, if she has the desire. Nurses training is very difficult, she has to be really on it and not quit! It’s a stressful career!
I would love to see an update on her. I think like he mentions often she should look at certificate programs. She seems like a sweet person.
Childcare is incredible exhausting both mentally and emotionally. Pair that with low wages, I can totally see why she was feeling burned out and desperate.
its funny that childcare doesnt pay much ,all while being one of the Hugest costs for parents
yeh caleb acting like she can't possibly be burnt out is bullshit
His acting like she can’t be burnt out is completely appropriate. She had 6 years living rent free and made zero progress. If you work at literally any job for 6 years you will make more than 16$ an hour. So she chose low paying childcare work, she chose to bounce from job to job staying entry level, she chose not to get certified or a degree, she chose all of this stuff. So she’s burnt out because she’s choosing to be burnt out. She could work at Panda Express and be making more. You don’t get to choose a field of work then complain because of the consequences of your field of work. Grow up.
Then do something else. Like real work.
3 minutes in and as a nanny I can already tell that family is screwing her over tax wise…
Some sort of basic business class should be offered in school that can explain this stuff to kid/young adults. It's so common for the young to not understand the laws around their pay and they pay a big fine for the ignorance. I wonder if course career has something like that?
Yup, happens to so many of us
30% interest rates this girl is getting all the action they are all fudging her.
Lady should of told the parents I deal in cash only. F big brother lol
@@uraui She's terribly naive.
This woman is living a very similar life to mine, this is the first time I see my financial situation accurately represented on your chanel or on any other show... Caleb was absolutely right: she's brave to put her situation on display like that and it's really helpful to me that she did so.
what do you do for work?
I’m a mom of 2 and daycare is more than our mortgage. I actually looked into working at the daycare and getting 50% off tuition.. they pay $14/hour (with a masters degree), and it still would have cost $1400 to send both kids there. So that idea went out the window. It’s soooo expensive but they pay the teachers absolute peanuts. Unreal!
Or, take care of your own kids at your own home, yourself
it is the reason why most couples with kids decide to just have one parent stay home, it is cheaper in the end.
A Master's degree to watch children? 🤣
@@hiteshadhikarimost ignorant comment I've seen today lol
@@hiteshadhikarinfortunately that's not an affordable reality for a huge subset of the population
This is your message of the day from your standard CPA. Nannies are self employed, but they are not 1099. It is the family's job to get this woman a W-2. Part of it is that one of the tests of 1099 vs W-2 employee is are they using your equipment. By nature of work nannies absolutely use the parents building and possibly food to perform his/her tasks. She can still put all her expenses on a sch c and have a negative amount that will give her deductions. But the family should be covering half the payroll taxes
I don't really understand the difference between CPA, PFS, and CFPs. But my wife and I are doing really well financially, but don't know what to do with our savings. We have 401ks and IRAs but we aren't investing. Would a CPA help us figure that all out?
@@jeremyduncan-martinez2684 A CPA is a certification that allows a person to issue different accounting reports. Ie. an audit, review, compilation. That said tax is part of the CPA exam so a CPA would have a solid understanding of tax law. I'm not a CFP or PFS but I'm going to guess that those certifications allow a person to give investment advice to someone else without being liable for lawsuits. I'm going to guess that those certifications test the individuals understanding of different investment concepts
To answer your question I would go to a CPA for complex tax questions. I would go to a CFP for complex investment questions.
Forever screenshoted comment for future reference
@@jeremyduncan-martinez2684
Just so you know, 401ks and Roths _are_ investing. They’re both buying blocks of different stocks with your contributions, to automatically diversify your money.
Other non-tax incentive investing options would just be buying even more mutual funds (groups of stocks) through companies like Vanguard or Fidelity. I would suggest talking to them for the best ones (I use the VTSAX fund). I hope that helps!
Therapist here:
I also think she’s burnt out because she’s doing a job she has had as a role her whole life she mentioned raising her siblings. Lot of trauma to process. She’s lost she said and goes back to this because she knows how to do it but idk if she ever got to develop her own sense of self.
Hope she pulls through and also 😊therapy
Unexplored but incredibly important point. Families unfairly relying on the oldest children and burdening them with adult responsibilities.
Yes. I have four kids all boys and a nine year age difference between our oldest and our baby. They love to help but if they’re ever not wanting to babysit and don’t offer, I’d be happy to find a baby sitter. I wasn’t ever made to babysit my siblings luckily and I don’t want to do that to my children either. I hope this girl pulls through and finds some confidence to try another avenue she’s passionate about.
That’s been happening since the beginning of time
My thoughts as well if you raise you siblings at all you have some stuff to process. I know I did
@@Jarvitalize I mean yeah but that doesn’t make it okay and doesn’t mean there isn’t an impact on a persons life
I’ve been binge watching this show and the quality has skyrocketed. It was never bad by any means but just the little things add up to make it so nice to watch.
I just called Credit One and canceled 2 cards I had open with them and had been paying monthly fees on $0 balance for over a year.
Thanks to Caleb’s advice and seeing others peoples situations on the show we are on our way to be debt free in 2.5 years after being over $70,000 in debt.
Thanks Caleb, you really helped get me moving in the right financial direction!
Congratulations 🎉
Nice. Chase and Discover are much better.
Would they not upgrade you to an account w/o monthly fees? I've heard of them having an annual fee for their cards, but monthly doesn't seem right.
Same!!! 😂 Fingers crossed they won't fight me too much this time. Last time they placated me with a 6 month break of no fees but now that they are back again I'm ready to be done for good.
Good job Credit One is a company to avoid, they have the similar name to Capitol One to get business
I’m here again. Idk what vid I posted on last but one more paycheck and my credit card is paid off. Getting back on track! Also 500 started in an emergency fund! Thank you Caleb for helping me understand a budget
Good job! Stay the course
I remember when i had debt up to my eyeballs and i was struggling to live everyday. Im 41, have 0 debt, 6 digits in the bank and a blue collar job. We have 2 cars, paid off and mechanically sound. Had to put a transmission in the 99 camry, but its a beast of a car for cheap. About to buy our first house....cash. Life is ok now.
Happy 🏡 hunting! You gave yourself such a strong foundation before buying a house. May you have many prosperous and healthy years in your future home.
@@dreamchaser5758 Thank you much!
The only complaint I have about this channel is that you aren’t posting new audits 8 times a day, I can’t get enough. Literally watch you NONSTOP at work and I think I’m getting close to being caught up with every upload. Keep up the amazing work! You’re by far my favorite financial channel, and think you’re going to be a legend in the space.
Are you actually working at work or just watching videos?
The new "you're not a credit card person" group chant is so satisfying loll - 10/10 about to replay again 😂
PLEASEEEEEEEEEEEEEEEEE consider adding Spanish subtitles. I personally know so many Hispanics that are financially illiterate and would benefit so much from your videos
You can add Spanish subtitles though RUclips. It’s in the settings in the top corner of every video.
Caleb you should get a shredder on your table and have people put their credit cards in there.
I agree. They actually have shredders with a credit card slot in them.
so glad my partner found this channel and showed me. we’ve since completely stopped spending money on eating out and are working to pay off debts. thank you caleb!
Nannies should be paid W2 NOT 1099 she should not be responsible for all the taxes and that family is breaking the law on top of underpayment her.
Legally nannies cannot be independent contractors.
Edited because I accidentally messed it up replying to someone🙃
Glad someone else knows!! She’s going to go broke paying her own taxes. Shame on that family. I hope it’s pure ignorance instead of negligence…
I’d assume ignorance I never knew that 😅
Can you please explain? I will Google and see if I can understand on my own but i appreciate any input on the subject
@@popomomo12 in the US nannies are considered "household employees" not independent contractors so they should receive a W2 NOT a 1099. When you are 1099 you pay both employee and employer taxes (more taxes) while a W2 employee pays their federal and any local or state tax while employers pay a certain portion of taxes as well. Her employers should be using a payroll service and paying taxes on their end as well
@@rosewesley7590so a household cannot negotiate a 1099 agreement for a nanny at all? Interesting
One of my pet peeves is “idk it’s hard to explain” when they have to be honest about something. It’s not hard to explain, you’re just feeling conviction.
It’s hard to explain is another way of saying I don’t care
I love the series! It would be great if you could also do episodes about the opposite: people who overcame financial hardships through good habits (not like they won the lottery or things like that, lol). I think it would be really motivating to hear their stories and learn how they did it.
He’s done a few financial audit updates
I would love to see a video of an example “shopping on a $300 budget”
There are a few episodes like that actually. Not everyone is in horrible debt but most people who reach out are in that bad spot unfortunately.
@@smnbrgss is that a 300 dollar a month food budget? and is that for one person? I'm just checking because my family of 5 does about 250-300 a week, varying week to week. that is just for groceries, that of course gets blown if you actually takes 5 people out to eat so we try not to do that very often.
Watching her story, of going from place to place, leaving jobs after burn out is something I relate to. I felt so lost after college since I had a goal of law school but never pursued due to change of interest and the high costs I didn’t prepare for. That chaos and disorganized living is exhausting. I’m in a much better place now in marketing, and no debt. I’m rooting for you, and I hope you can find a satisfying career, good luck.
I agree with you and that is one area that I think Caleb could improve on. It’s _exhausting_ to run yourself ragged with shame, what-ifs, and should-haves - let alone the drag of any actual mental illness. It’s actually invigorating to find something that clicks, to find your path, to work hard for something that you chose - her work right now is not that, so I’m sure she’s bone tired. Based on the fact that she works doing her childhood “job” within her family, I think she probably has pretty low self-esteem (no judgment, I would know) and frankly probably should have started with a therapist before seeing Caleb.
Love this series. Keeps me in check from frivolous spending.
Remember to invest.
Dad doesn't like resource wasters.
He keeps my in check as well. I budget everything now month by month. Let's go 🤘
@@geigertec5921 true, everyone should remember s&p 500 index historically gives 10% return each year.
Putting aside at least 10-20% of your income each month to put into that would be really good savings in 10 years
I’m glad to hear Caleb is starting to reimburse some travel expenses for people to come on the show. I feel like if people know this, it expands the number of people that would be willing to go on the show.
Honestly it’s not only a kind thing to do as a human but it also makes business sense, to me. I’d think his return (RUclips revenue) on investment (reimbursing travel expenses) is worth it.
Yeah I'd love to go on the show but the expense would be too much. A 1-3% profit sharing plan of the video for the people who come on would be a more affective form of altruism.
There is an abundance of people that want to come in the show
@@346azul probably true but this increases the pool of people which would then increase the diversity of situations
@@sadgearmywtf. If you can’t afford to travel then you shouldn’t expect to freeload off someone else’s business. Profit sharing plan 😅
I have noticed most of the participants have never been at their current jobs for anything over a couple of months. Starting to think unstable employment is part of the problem with a lot of people on the show.
That's a great observation. I have noticed that as well. They always give their employment info and then it comes out that they just started two weeks prior or a month beforehand or whatever...
Very astute observation
When all you can get are low paying jobs, it’s hard to find stability. People tell you that you need something higher paying but also shame you for not sticking around somewhere unsustainable. And it kind of cycles, because your social circle is more likely to be other people in low paying jobs. Everyone knows connections are important in the US. The only way out is going into the medical field or something at that point.
Unstable employment caused by lack of general career direction. A big chunk of these people need career counciling, or even to just get a real job, before they need financial councilling. You’re never going to 50-30-20 rule your way to success working a dead end job for entry level teenager wages.
@@caitlynclinewrites the problem isn’t that they aren’t sticking around. The problem is that if they are constantly switching jobs because every single job that they get has some type of problem, who is the common denominator? The other issue is that if they don’t like the job they just quit without having another job lined up, it’s fine to leave a job that you don’t like but you need to have something else lined up first when you do. Everybody’s had a couple of shitty jobs, but if every single one of your jobs is so terrible that you can’t handle it, then there are probably some underlying mental health things going on. I definitely think she has childhood trauma that’s contributing to her current situation.
All the nannies in the comments dishing out tax knowledge is exaclty, what this community is for! Great Video!
I agree....but if they were good at finances they wouldn't have gotten into childcare in the first place...kind of a toss up with the advice
Counselling and therapy burn the hell out of the practitioner. If you're a person who burns out easily and doesn't carry a solid emergency fund - don't do it!
Just to clarify - are you saying “don’t go to therapy” or “don’t become a therapist”?
@@abigailjohnson7620think they mean don't go to therapy. Not because it isn't needed, but because the burden falls on us, not insurance. I've gone before, and it's $100 per appointment. Most people can't afford that much on a regular basis
Girl if you want to work in with kids consider health care (pediatric nurse, speech therapist, occupational therapist). 100k salary
Do not go into a therapy job unless you have the passion, drive and dedication. It’s a minimum master level education. I’ve seen so many get burnt out in this field quickly. It’s at least 7 years of school plus at least 2 years of supervised work before you’re licensed. A strenuous licensing exam that most therapists don’t pass the first time. You have to pay for supervision unless you find a job that provides it for free but your work life will get lumped into it. You do not make good money unless you work in private practice which is a whole business in itself. People think it’s just talking to people but it’s so much more.
i wish caleb would pin this comment because it’s so true. i am currently attempting to get out of this field due to the burnout and red tape. psychotherapy/counseling is not what television/media makes it seem.
yeah, and not only that but currently she is too broke to go to school at all. She needs to pay her debts asap and then get a certificate or at the most associates. If she ends up getting bachelors, she will get herself in a much bigger debt. She needs to be able to get a decent paying job with associates or a certificate to maybe someday to go to a 4year college...
I’m from the same town as this girl and I do the books for a couple childcares. The industry is a mess here.
Our cost of living isn’t super low, but our wages are. It’s very hard to be a young person and support yourself here.
I feel this girl’s pain. I graduated high school a year early and immediately started working at two sister daycares and still only made $8/hr 60 hrs/week, after 4 years of working there, I got a 0.25¢ raise and absolutely no benefits. The crazy thing is (at least where I lived at the moment) ANYONE could own/operate a daycare/preschool with absolutely NO experience in the field. And sadly, most of the places I’ve worked at paid the employees crumbs, yet would roll up in a Porsche with fresh acrylics and nice clothes when everyone else had to scrape together pennies to get a little gas just to get to work. Even working in the public school system as a Paraprofessional, that only makes $15,000/year before taxes and that a 40 hr work week. It’s a sad truth, but childcare is so underpaid, especially for people who are actually passionate about it. :(
That’s crazy that where you live no education or credentials are needed to open a daycare facility. In CT you need atleast an associates degree, a bunch of certifications and continuing education classes on a yearly basis. I agree that daycare workers are severely underpaid- not to mention that as parents we are paying astronomical rates for our babies/toddlers to be cared for so it’s frustrating to hear that’s the staff are so underpaid
Since anyone can open a day care center, why not open one yourself? That way you can make the money yourself.
@@jacsreactions2487ot everyone has the ability or desire to run a business like that. It’s so easy to say just “start a business” but problems like start up costs for a business, you need to market like crazy, it’s a lot to balance, and not to mention businesses in general won’t profit for one+ years. Childcare isn’t easy and should pay more that $8 an hour without needing to start a whole business to pay basic bills.
Childcare is still unaffordable. Id be better off staying at home and watching other kids at the same time.
@jacsreactions2487 that requires a lot of work people like that like to complain about their situation then do nothing to improve it. The best response to her is "mhm I feel you girl"
Good morning all. Here’s to a good week of being smart with our finances.
Thanks for having so many folks from MT or originating from MT.
Her wage is not appropriate anywhere. Yes MT has lower wages, but to nanny she is getting paid less than a supervisor at Panda Express....
Her employers are taking advantage of her, and she should recognize that.
Yeah , Amazon pays 15/16 in lost it the states as a base pay . Yes they offer mainly part time hours however a fast food job could pay the same if not more at least she would have full time
Nobody is being taken advantage of. They offered her $16, and she accepted. If she wants more, she can negotiate for it or find a new job. If it’s so easy to get a higher paying job, which she’s been unable to get (or unwilling to work) then she should go ahead and get one.
@@adamseidel9780 let’s say I have a child and I have the option of putting them in daycare for several hundred dollars a week, vs hiring a $16/hour nanny.
We would both agree that I should “take advantage” of one of those options over the other.
Yes, there is choice of both parties to agree, but that agreement does not always mean both get the same amount of “advantage” out of it. On a population level you can make that argument that on average an exchange of goods and services is typically an equal exchange and overall a net benefit. Across the individual level you can not make that same claim.
You’re essentially saying the deal is “fair” just because the nanny is unaware of her value. If she is to believe there are better opportunities available, she needs to first be told her current opportunity is not actually as advantageous to her as previously thought.
You’re trying to make an issue here, where there is no issue…..
Caleb-After watching your channel for the past two months, you motivated me to pick up a second job so I can attack my student loans and car loan. I paid off one student loan last week, 9 more to go. :D Here's to being debt free in 12 months. 🥳
It’s really sad that those who are in the early childhood education field are paid literal shit. Her wage is pathetic for the positive impact she has on a young human beings life. No wonder she’s burnt out. If I was paid like that I’d feel utter despair too and rack up debt. It’s really time for workers across the country to fight for fair wages.
I agree with the first part, but the low wages are due to inflation and our disgusting government charging high taxes and printing money whenever they want (inflating their own salaries)
@@user-lt1jd1ye3v No, it's because childcare workers in her field are easily replaceable and not as highly valued by American society. How is inflation specifically impacting her and her field? Your comment doesn't make sense. Childcare workers and teachers have been paid poorly for decades.
She would be able to make a lot more money if she got an associates degree. Because she doesn’t have any degree or certifications that is preventing her from advancing in the field. All you need is an associates degree in early childhood education to open your own daycare or tutoring business. If she was able to tutor the kids that she watches, that would be a financial game changer for her, but she doesn’t have a degree so she’s not qualified to do that.
It’s not valued as much because it’s so easy. It’s the easiest thing. Kids are so simple. As long as you aren’t a total idiot you can take care of kids. But hey people don’t raise their own kids anymore so most people are total idiots.
It's always interesting to know how people end up in situations like this.
No rent, no utilities should really help set her up to tackle it. Glad the family are there to support.
Support???? More like enable ....
@@deirdrekiely6187facts. They are enabling her to be a loser.
Well because she has people that enable her wrong decisions. If she had to pay rent since she turned 18 she wouldn’t get into a habit of living on more than you make.
You can definitely tell Caleb never watched a kid if he doesn’t get how a childcare worker would be burnout… I’d definitely get burnout by just watching one kid a day 😂
Kids are stinky
@@CalebHammerand expensive 😂
Children care work is not thought of as a hard job, but damn it's emotionally draining. I swear kids get their endless energy by sapping all of the adult's.
It's a shame that it's often a poorly paid job.
Edit: And for anyone saying "throw them into a room and make them watch TV," that's not how kids work, and that's not what parents want/pay for. Many clients would be unbelievably upset if you aren't that child's playmate the entire time you're being paid (and sometimes wanting the child to be taught basic manners/life skills such as reading or writing). Being a nanny isn't the same as daycare worker, where the child has other kids and clear rules/boundaries set up by the daycare owner.
If you lack a spine or self worth, you end up like this girl having to do more work for a single family's children for less pay than if she worked at the daycare. She needs to learn how to set up expectations, boundaries, and how to stick to her guns.
@@wingsandbeer4208 the daycare I have my daughter go to keeps us updated on what they do throughout the day and it’s crafts, it’s shadow puppets, it’s making bird homes, it’s going outside, it’s dancing in puddles, it’s reading, it’s visiting the bookfair, it’s playing with musical instruments. I don’t think they get one break besides nap time. Not to mention washing their hands, brushing their teeth, feeding them, and changing their diapers (these are 1-2 year olds). Now imagine it’s a group of 8 toddlers you watch 5 days out of the week finding endless activities for them to do. It’s TOUGH.
And they're stupid! I don't say that as a joke, I say that because they will litterally try eating things that are deadly - like thumb tacs or Grandma's heart medication. You have to always make sure they're not accidentally hurting themselves.
I don’t know if she’s considered nursing but she clearly has experience with caregiving. If she’d like to continue working with children I’m sure she could do well as a pediatric nurse. Can’t wait for her follow up, I’m rooting for her!
That requires a degree though, she could even be making way more money in child care if she just got her degree. All she needs is an associates degree in early childhood education, and she would be making a lot more money. I feel like she’s just stuck in childcare because she started babysitting and just kept on doing it because she can’t decide any other career to go after.
Would a cna make more? That's a lot less schooling than even an associates degree
"You are one decision away from bettering your life" Happy FA Monday guys lets keep hitting our financial goals.
Yay! 🎉 What's your next goal?
Yes, we've got this 💪
Thanks Caleb and Hello from Australia! At the end of last year I started watching your vids.
In the first 6 months of this year, I paid off all my debt and cancelled all my credit cards and other lines of credit.
I’m currently spending the next 6 months saving up my 3 month emergency fund.
Every time I find myself struggling to stick to my plan I spend a day binge watching your vids and I find myself highly motivated again to hit my goals !
Thanks for the motivation mate you’ve set me up on a path to financial freedom:)
Lots of pain in this girls eyes. I hope she fixes her issues. Life can beat the shit out of you. Sometimes its not your fault. I think when she said she was burnt when getting the upgrade loan she was actually depressed. I really felt for this lady in a way i havent for most others that come on. She seems like she never had any real true guidance her whole life.
@@southernmountainwomen make less because they chose jobs that earn less.
Man… I get quitting a job for your mental health, but I legit applied for both FedEx and Amazon when I had to quit my one job. They both pretty much start right away and are easy money. My sister recently quit a job and almost immediately got 3 merchandising jobs to subsidize that income that she wanted. There are a ton of easy jobs that are easy to acquire, no one should be without a job for long in this day and age.
Do those companies offer benefits when they hire full time people? Sounds like companies that offer promotions, too. Good choices.
@@evenbiggeral5089 it was difficult to get full time at FedEx, I was in the warehouse and the hours weren’t predictable. Amazing, however, did offer me a full time permanent position after a couple of months and that did come with benefits. The pay at both was pretty great for the area as well. FedEx payed $18/hr and Amazon payed $17/hr. The pay for Amazon was supposed to go up when I became a full time employee, but I didn’t take it. The facility I was at was full of Somalis, and they hated white women. I had one of the Somali managers try to tell me that I wasn’t allowed a 15 minute paid break during my shift, which is untrue according to the training I got on my first day and according to the email I got from HR when I complained. It was also during covid and Amazon was very insanely strict about the distancing rule. FedEx didn’t care and was a really fun place to work, even if my day started at 1am most of the time.
Amazon is not easy money unless you consider slave labor easy money
@@Moon_Presence you comparing Amazon to slave labor is a disservice to all of the slaves that currently exist in the world and all of the ones that have existed in history. Literally everything is automated. It is the easiest job I’ve ever had. The only reason I didn’t like it was because it was during covid, so there was no socializing allowed and you could end up finding yourself working is some desolate corner with no one around to ask if you had questions. I also had one manager who tried to insist I didn’t get a 15 minute paid break, but I reported him to HR and never had a problem after that. So, no. It is not akin to slave labor in any way, shape, or form. It offers decent pay for the area in which it has warehouses and it offers benefits to full time employees. When you first start, you get to basically create your own schedule. I loved that aspect. I would choose to work 5pm to 1am at Amazon, then go 2am to 8am at FedEx. It was great. It more than paid the bills and I was happy.
Sis we are so similar and I wish you the best. I’m also a mature student-paying off debt and going back to school. I had severe depression and that really side tracked me and other issues. Wishing you the best- you have to be decisive in life to move forward
Caleb really dishing these out at
a high rate, keep them coming!!!
I am glad people like her come on the show and share their story. She is a good person and I really wish the best for her. I like the fact that Caleb goes after their actions and not at them.
I found this channel a couple days ago. I'm addicted. I learned that my financial situation isn't as bad as everyone i have watched so far. Thank you for teaching me where I'm at in my financial situation.
She's definitely being underpaid. We live in Knoxville TN, this is not a HCOL area and teens here without experience already make 15$/h.
My 16yo niece just 15/hr per kid just babysitting not nannying. She is getting raked hard.
Knoxville isn't cheap idk where you're living😂
I rented a 2bd apartment and it was 1100
@@emjsigns9499It's not very low cost of living but it is definitely not HCOL! 2 bd apartment for 1100 is a very good deal man, they go for double that in California. Her small town might be lower cost of living but $15/h when they're not even doing her a w2 is criminal with her experience.
@@emjsigns9499 that’s cheap, 1 beds where I live are $1600 minimum, many go for $1900-$2200.
@@TheRealMjb2k That's cheap compared to big cities. Expensive compared to many rural areas. Where I live you can get a 2 bedroom house on an acre or two of land for under 100k. About 500/month at these historically high rates.
I’m all for continued education, IF you have a solid idea what you want to do AND said degree has a realistic application and strong job market. She really needs to figure out what she’s doing and not go back to school just for the sake of a piece of paper that may not advance her career/life.
She could be a massage therapist, neonatal nurse..
Too many people don’t follow this. Going to school is great but do your research first and have an idea of what you want to do. Going to school just to go to school is why so many people are drowning in student loan debt.
Money is tied to emotions and she has some issues. Caleb was definitely right about saying many will relate to her and she is helping them too.
I love that Caleb always questions both the “why” and the practical numbers 👌
I started watching you at 36k and seeing your growth going past 600k has been crazy! so happy for you!! these videos keep me motivated to not spend anything while paying off some mooonies
Hey guys, I know nothing about the market and I'm looking to invest, any help? As well who can I reach out to?
The stock market rally run is gone, but I'm not sure if equities will swiftly recover, keep falling, or fluctuate in a narrow range for a few weeks, or if things will quickly get worse. I'm under pressure to increase my $300k reserve.
Making touch with financial advisors like LoganFreemann he can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.
HE'S ALWAYS ACTIVE ON HIS TELEGRAMS APP WITH THE PROVIDED NAME BELOW
LOGAN FREEMANN
@faithmorgan4HE COULD HELP YOU OUT, THAT'S A PROMISE
Nannies shouldn't be self employed. They are household employees that are payed with a W2.
Only if they are unable to work for another household
@@Sadreathwhat are you talking about? That would literally cancel it out that makes 0 sense. Anyone could argue "oh but she can work for another household" to justify not having her as w2. The tax law stays the same regardless if she could be working somewhere else.
@@Oliviaandtrina It seems I was missinformed about how that worked
The family is also supposed to hold taxes and make her a w2 if they pay her more than $2,600 in 2023
Can't they just have her as a 1099 employee?
@@jaqueitch nop. The IRS website states it pretty clearly!
@@jaqueitchnope, she's considered a household employee. If she files 1099 she's paying employee AND employer taxes on her income. The family might not know this, but they are screwing her big time and they aren't paying enough to make up for what she's losing.
She’ll owe more if they withhold. They need to take something out.
I am an everyday millionaire and do not pay for door dash. This is a poor people habit
12 mins in and I’m aggravated
Nannies in big cities can make serious bank if they can work for rich families. I have a friend who did super well in L.A, even working for a family who paid for her plane ticket to Paris, France to watch the kids.
Yes my mother was even offered to move to another state all expenses paid just to be a nanny/house cleaning
Yep. In NJ my bosses had 3 Nannies and the main one went to Hawaii with them. While I stayed in her room in THEIR house while I “cleaned” their house while they were gone.
And I also got free riding lessons for the week ish they were gone but when they were home the riding lesson was obviously part of my nanny/groom pay
But can I just say.. we weren’t paid that well or like it wasn’t a JOB like real organization buttttt I got paid to drive his Range Rover to Florida and drop off his painting in Miami lol. And um. That’s just cool.
Looking back I regret quitting and I wish I had stayed for a few years just because I was 21 and I didn’t realize back then that having like a low ish job was fine and I had zero debt and I should have just experienced the horses and driving for a few years. Cause I loved the kid. It was just hard to see his parents not care about him and stuff ….. k I’m done. With my saga
But she lives in small town America.
I relate to this so much and I think it’s contributing to my poor financial situation - I’ve working with kids for the past 14 years and I’m 27. There’s so much burn out in this field. I’ve been a camp counselor, a teacher, youth leader, youth theater, and most recently, autism therapist. Burnt out on everything and had to leave all those jobs 😢. Started a masters in education last year then dropped out. Maybe I want to be a reading specialist? Idk Now I’m going back to teaching in but in alternative schools with like 5 students per class or have learning take place outside. Second interviews happening this week. pray for me y’all 🙃
How'd it go???
27 and acts 17.
Time to grow up.
Do some research. Figure out a career path. Be mature enough to stick with it for more than a minute.
She has as many debts as she has had jobs.😮
“The tax man cometh” should be on a t-shirt, along with “Christmas is cancelled” 😂
When my fiancé lived with his grandparents after graduating high school, he worked 3 jobs and saved enough to put a down payment on the house we live in now. She really really should have taken advantage of that time she had to work and stack up money!
Agreed. A missed opportunity. It sounds though like she might be able to live rent free with her grandparents for several more years. Hope she uses the time to pay off all her debt
@@casperandersen5625 I got to the part where she said she still lives there, so there’s still time! She has such a huge opportunity to just save up! It seems like she lacks drive and is slightly complacent in her life, she needs motivation or else she isn’t going to take advantage of the time she has right now
@@cottoncandyaddict She also needs a solid career plan more than anything imo. A half-baked plan to go back to community college with no particular goal in mind, is not gonna cut it. Hopefully she discovers which job she truly wants to do in the future. Once she knows that she can take the steps necessary to get there.
She has a false perception (that I believe many do) which is that if I get any degree from college I will be better off than not having one. That might’ve been true 30 years ago when maybe a quarter of people got a degree, but that’s no longer the case. If she has a career in mind that requires a college degree she should pursue that path, but if she is just going to college for the sake of going then she needs to take a step back and rethink how she is going to achieve her goals by going to college. At 27, she should know what she wants to do before going to college, and at the moment she doesn’t have a clue and I’m of the opinion that it’s best not to take on debt for something your not sure about.
That’s how I felt the first time I went to college 😅 I just wanted to get out of retail, and all of the office jobs in my area said you need any bachelors. Then I got out of college and all those jobs said a college degree is optional but you need 3 years of experience. At least CC was free and I got a transfer scholarship.
Agreed. Going back to school at 27 without a plan for a career and a degree is not a good use of her time, energy, or funds. Not saying she shouldn’t go back to school but she should decide what to study first. If she likes kids maybe teaching? Although if she is burnt out just as a nanny being a teacher will be even harder.
College is a scam, fr fr
I think people see the stats like in 2021 the median income for college graduates was $52,000 VS $30,000 for people with just a HS diploma and assume that any degree will do that when, as you say, they need to figure out what career path they want to go down and see how much people in that career path actually make on average with the degree.
Even with her current career path, she’d be making a lot more money if she even had an associates degree in early childhood education. That’s what’s holding her back for making more money in her field, having no degree or certs means that she can’t tutor kids or can’t open up her own daycare business, both of which can be very lucrative. However, that’s only if she wants to continue with this career, I feel like she just started babysitting when she was younger and never stopped because she doesn’t know how to do anything else.
I have adhd and my brain moves fast but even I can’t keep up with how quickly Caleb runs through his plans with guests on the show 😳
It’s bass ackwards. You need to speak slowly and pause for the person to process what you’re saying when you explain something.
My chest is pounding just watching this. I remember where she is in my own life. Seems like a good person, simply misguided. Best of luck and just win!
So happy you’re at 600k, very much deserved!
I’m always shocked by people who just quit jobs without having any plan or other job lined up. My anxiety could never.
Its actually an easy thing to do when you live rent free and don't have to worry about the utilities.
She lives RENT FREE with her family, so she's not actually a real grown-up yet.
I had a few months of savings, quit my dead end job and currently in truck driving school. Got my DMV test on august 21st. I’m praying I will pass 😢
@@flonkas good luck!!!!
@@Cattlynt thank you !!!!
Thank you, Mr. Hammer! 🔨
Thank you too!
I really want her to succeed, I'm expecting to see change next time i see her on. Lets go Jess you got this!!!! Me and you both are in this debt hell. Lets make some MONAYYYYYYYY
Best way to start the morning 💯 As a fellow Austin , Texan it’s so interesting watching your content
My ❤ really goes out to this woman. She is completely floating through her life, I think she has had some bad experiences she needs to unpack. I get the feeling even this level of adulthood is a struggle. Therapy will help ❤
Caleb is moonlighting as a career counselor 😊. The healthcare field is always hiring. The schooling will not be wasteful for that. Good luck!
After watching this episode where Caleb talks about the "dizcusting" Credit One CC...I have (had) 2 of them. Immediately closed both AND cut them!!! Thanks Caleb, absolutely HATE those annual fees!
My wife is in ABA, where she works directly with kids that have disabilities & learning problems and she teaches/writes programs for them to advance. She makes a very good amount of money. Only downside is that it requires a masters degree, but there are other positions that pay fairly well you can work within the industry while you do schooling. She loves the work she does.
Congrats on 600k man you deserve it!
You have helped me confront my spending and take control of my finances. Thanks man
Ever since i started watching these, i am saving money by budgeting and not ending the month with 0 ballance on my bank account. Alsotrained myself tp be a credot card person, thank u caleb for changing my life!
Congrats on the improvements! Things get better and more opportunities open up when you have cash saved up!
I know it’s gonna be a good day when I can spend my lunch break watching financial audit.
(Yes I packed a lunch) 😂
I do the same lol just ate my sandwhich and carrot sticks 😂
"Why possibly" is now my favorite thing to say. 😂😂
So glad that I came across this episode. I see a lot of myself in this one. I have never had 20k in credit card debt (and hope to never have it) but I have been on the same cycle in the past of not wanting to work, getting burnt out from work, wracking up credit card debt. I've been in therapy for a few years and it has really helped me SO much!
$16 an hour my 16 year old sister makes more as a cashier at a marshalls than that
Our Marshalls cashier's don't get paid that much. It's location dependent. I'm guessing you don't live in a federal minimum wage state.
@@Username0467 ohio idk
More than ever, I am convinced that having any sense of financial literacy right out the gate in life is a privilege. If you grew up with parents/family who exhibited even half way decent financial skills (like I did) that you were able to pick up on and use as you entered the world as an adult, then you have privilege in this world. That doesn't mean you aren't a hard worker or that you haven't worked hard to get where you are. But it does mean that you had a lucky break. It means you had one less obstacle to overcome in your life that many many others have to fight to get through and many still never make it past.
Not that she’ll ever see this comment but she should consider looking into school nursing. 1. It’s still working with kids. 2. It pays better than a social worker. 3. She can probably do it with an associates degree in nursing.
I’m so happy to hear Caleb is starting to reimburse for travel.
He’s been reimbursing them for a while . I don’t know how long but for 4 months by now at least .
@@riverdaletales8457 he said “we now reimburse part of it” so it seems new? Are you his lawyer?
Man what is with all of them wanting to go to school but have no idea what degree they are going there for? Like those who don't have school debt trying to get it when its not needed lol. Our society has warped so many into thinking they need a degree and a ton of loans as the only direction to make decent income/career.
this.
I’ve started every morning with this show since I found it great way to remind myself to not fuck up financially
CALEB, I will fucking go on your show dude people need to know that they're constantly getting screwed for car work!!!
Her CV Axle is going for about $110. She got the old shaft from the dick-hole mechanics.
I will literally drive to her and fix it based on that shit hole of a situation, hit me up bro. (yes i get that mechanics have to make money) but there's no need to pretend that a CV axle is that hard to do. I've done multiple in under 30 minutes, with decent tools. it's not that hard.... I'm sure that the larger car is a bit more difficult, but at most it might take a couple hours if you're drunk. jesus h christ
Absolutely no reason to have Mcafee, would call and demand a refund immediately.
CV shaft drives the wheels from the transmission on front wheel drive cars. 100% necessary repair.
love starting my monday mornings with a new financial audit ♥️
We pay $22 for someone to watch our kids. She is underpaid.
Even in Montana, I just Googled and it says $15-30 an hour. Especially with her experience. $16 is what you'd pay a family member or teenager, not an experienced professional.
@sirmadam8183 I am in the Chicago area. She initially quoted $24 but we settled on $22 since she was working enough hours.
The more I watch shows like this, the more I want to invest in storage facilities.
Guarantee she could re buy the things she’s storing for less than she’s paid and will continue to pay.
One of the much better videos in being supportive while maintaining the entertainment you're used to giving. Keep up the work, I hope you can bring up therapy more and possibly getting professional opinions on how certain ways of speaking to people can bring them up mentally in their motivation. That would be awesome to see.
Not so sure someone who needs therapy should be providing therapy to others especially children. She needs to focus on what she wants to do with her life. Right now she lives an aimless, listless existence.
ice cold but true.
@@pabloescobarschanclas Nobody can improve their situation without looking at the cold, hard facts.
There was a nanny on "CNBC make it" making six figures as a nanny, she did say she had to find the right family so I guess you have to hustle to get those good families that pay their nannies well.
My debt is 10 times worse than this gal. Glad I saw this video! I'm getting myself on the right track now!
Caleb, listen here dude, i have some strong suggestions for you....
Dont forget to take some time off eventually. Theres lots of fun things to do during the summer. Maybe pre-record a week of episodes?
Agreed. He looked exhausted in the last episode. Balance is a critical part of mental health.
She lived rent free for 6 years and didn’t save anything?