From Florian today: "Thanks again Caleb. I have clipped my cards and I just enrolled in a debt reduction plan. No new cards! I'm setting up my online private lesson studio right now and have set to optimizing my budget even further than we spoke about. I haven't mustered up the courage to watch the video yet but I finally see a way out of this mess. As I mentioned before, I'm going to have a serious conversation with my possible professors to see if I can defer my acceptance, or possibly start school part time and try to cash flow as I go, while keeping my teaching position long enough to pay off my debts. It's going to be a rough couple years, but I think I can do it. I'll check in with my progress in a few months. You really are doing an amazing job on these videos, so many of us are so financially illiterate. "
@@nickybutt9733 Sometimes people need some hammering to realise their dire situation. He gave them solutions too. I think Caleb is doing an awesome job!
@@nickybutt9733 But most of the people that are in the financial situation they are in it’s appropriate to freak out a good amount of people that come on here don’t even have an emergency fund and that’s the basics and some aren’t even doing the basic which is sad he is right to freak
Like this guy; I'm 30, a teacher, make about 57k, my rent is low ($715), and my total debt is about 48k between student loans, CC, and a personal loan. By helping him, Caleb is helping me by proxy. Thank you!
I dont see how lol. He is morbidly obese and obviously lazy. He is up to his eyeballs in debt so obviously irresponsible.... The only traits we know about this guy are that hes lazy and irresponsible. Why do we want him educating kids again?
@@CalebHammer Love your work here. You do a great job of modulating your tone of constructive criticism with each person. At the same time, the graphics/phrases in the video thumbnails are rather harsher (though attention-grabbing) and there's a bit of a disconnect in tone between the video content and the thumbnails. It might be useful, in terms of setting the vibe for your brand, to dial down the tone a bit in the video thumbnails' graphics/wording (it doesn't give justice to how thoughtful you are in talking to these people) so as to preview how you treat these folks in a very genuine way (while still using thumbnails that capture attention) (maybe the tone in the thumbnails could show your concern further)
Why can’t people work 4-6 hours on Saturday and Sunday to make $4-500 more per month. Stop all subscription service, eat out once a month. That’s it until the debt is gone. Sacrifice and self control are keys.
Yeah he found something he’s good at while being in the field he wanted. That’s better than 99% of music ppl ever. Just stick with it. There’s no big payday coming. Ppls interest in music has never been lower and it’s gonna almost disappear.
You have such a way of putting finances that avoids the trappings of the standard finance bros. Truly awesome content that is invaluable. Also love that you’re a fellow musician loll
Love watching your videos bro! It’s helped me pay off 8k off CC debt in the last 3 months and now I have less than 1K left! After that it’s on to building my 6 month emergency fund and figure out what I’m going to do with my financed car!
"You're able to give so much more to people and society when you yourself are taken care of in the first place." Very well said Caleb! I use the phrase "You can't set yourself on fire to keep others warm." You have to be solid and stable first so you can better help others.
I can definitely see why Caleb is so pained with this one in particular having a similar background and understanding the difficult decision that he has to make It's always so much more intense when you can directly relate to the exact struggle that they're having
Continually going to school when it’s not going to give a ROI is insane …Caleb is the voice of reason that keeps us clear headed when the math doesn’t math
A lot of arts people can't get Jobs so I'm not surprised school makes it look like your accomplishing something, when really you are just unemployed and wracking up debt.
@@helena3631Issue is, things in life isn't all about ROI. One has to realize that not all of us could be, for example, tradespeople. That would just reproduce the problem seen in white collar work, but for blue collar work. This vid is reason to advocate for free education.
It would be amazing to get some interviews with 65+ year olds. I'd love to see what seniors and retirees had done throughout their lives financially, good and bad, and whether they are ending up where they expected/wanted to be as children, 25-year_olds, 40-year-olds. Etc. Where they think they could have done better or worse, etc.
I was lucky to have a government job with a real retirement. I also had a 457k that adds about 11k a year to my 72k retirement income. I paid off my credit cards in my 30s and I have no debt except a 125 per month car payment.
@@Sychotic1 right now I have a government job with a pension albeit way shittier than yours, 2.5 at 67. But I have a 457k that I am maxing out every year at 20.5k. I'm 26 right now and will hopefully be very well off when I want to retire.
It’s called they got pensions, way better historical returns during the booming 90s during their 50s where they have more investment income and good lord home prices back in the 60-70s versus today is sickening.
@Syndikit It all depends on the area, average prices compared with average income when accounting for inflation from even the 50s to now really aren't _that_ different. But some areas have exploded, like California, hence the mass migration out of the state by people who, for whatever reason, aren't going to be involving themselves in the bubble.
This is one of the few videos where I'm actually hopeful for the guy, he seems very self aware, he's addressing the issues, he's obviously a smart guy, I think he's actually gonna make it 👍
Can tell this guy is super smart, wish him all the best. Honestly teachers don’t get paid enough compared to superintendents and shit, hope he follows Caleb’s financial advice.
I really wish a channel like yours existed when I was in highschool. This channel is so resourceful and valuable for everyone really. Thanks Caleb for the great content, and the guests who help give us insights. 🙂
It’s truly sad he can’t pursue his dreams without financially wrecking his future. You can tell he has a passion for his craft & truly cares for his students.
Caleb, I discovered you about 2 weeks ago and I am so glad I did. I was able to find a local non profit in my area where I get free financial Advise and helped me create a 3 year plan to pay it all off! I have so much peace of mind now knowing that I have a plan, AND STICKING TO IT.
So excited to watch Caleb! Thank you for being so dedicated and consistent in your content creation. We all really appreciate it and it is completely evident by your growth within the past few months. Rooting for 250k by the end of the week!
Sometimes I feel like I shouldn't watch the videos with people around my age. I compare myself to the people who are not doing well financially and it gives me a false sense of security like I'm actually doing fine while I still have a long way to go compared to people who are doing very well.
This really hit home for me, as a violinist with both a bachelors and a masters. I am lucky that I did not have to pay for my masters (coincidentally a masters in pedagogy and performance) because I was awarded an assistantship with a stipend, but if I had to pay I would be in a crap load of debt. Working in that field is difficult, and I got tired of making barely enough to survive while having to work six days a week, only a paycheck or two away from financial ruin. Caleb is so correct on this obsession with school. I wanted to go for my DMA, but after doing the research, and working with colleagues with DMA's from places like Yale and Julliard, who were not much better off than me financially, I decided it was a very stupid decision. But, I am still obsessed with school because I am now in an accelerated nursing program. Hah. But, I am excited to make 2-3x more than I made as a musician, have consistent paychecks, health insurance, and a retirement fund. There is something to be said about having financial security while still being able to play and enjoy my instrument.
Masters in Performance here - I found it to be cheaper to audition to many schools to search for one that offered GA/Stipend rather than paying even half tuition scholarships that I was offered. Super glad I didn't choose a "cool" school like Cal Arts and went for the full ride. And now I own my own coffee business but can play all the percussion instruments very well! :p
@TheSUPERHAPPY1 Depends on the program. Some are 12 months or 18 months. They are intense though! Make sure wherever you go it is accredited and you are able to take the state board exam after finishing.
I appreciate Caleb for showing me the snowball method isn't the only one. I started tackling my high interest credit card instead of the 0% interest one with a lower balance
My grandpa was a band director and my grandma worked at a bank with no degree. They both retired by 60 and have been spending their retirement by going to the Virgin Islands for the entire month of February for 15 years now at least. Times just aren’t the same you could say 😅
Nah, people can and do do that still. It's just that it's more common now to buy the biggest house and car you can get a loan for and max out your credit cards buying cool clothes and iPhones and eating out for every meal. People complain about the way things used to be but don't realize it's pretty damn simple to live well even on a low income - if they paid attention and gave a shit (fun fact, they don't, but at least they can scroll Instagram all night and leave cynical comments). Sincerely, someone who made 28k a year or less most of his life in a HCOL area yet is honing in on becoming a millionaire. Work harder, comment on social media less. Good luck.
You can achieve the same things but it requires more street intelligence now. If you're friends with a travel agent they can hook you up. Of course you have to be of value as well.
@nowthatsurban I agree with your comment. I worked two minimum wage jobs but grew that to 1million in assets. It's not about how much you can make but how much you can keep.
I find it admirable that he went to college at a later age. I also did the same. I went to uni after high school for 2 years and then came home bc I didn’t know what I wanted at that young age. 5 years later, I went back to community college and got my associates in Paralegal Studies.😊 and now I work in corporate taxes, somehow that degree helped me. 😅 (the investigative part of taxes).
You still went back to school a full decade before I did. I finally went back to community college in my late 30’s, and got an associate’s degree in radiology shortly after I turned 40. 😂🎉
@em sa when the same-sex marriage became *legal* in the U.S. in 2016, that gained my interest in civil rights. I had no idea before 2016 that same-sex marriage wasn't legal. I always thought that two individuals only had to obtain a marriage license and theb boom, they could marry. I realized that there was (still) so much un-fairness in law, and I wanted to be part of that change. I moved to a larger city in 2019 after graduating 🎓 for better opportunities, but the pandemic hit, and I broke my ankle at the end of 2020 (all of this time, i was working at a home improvemnt store, during school and during the pandemic) . So in my short time out of work, I updated my LinkedIn profile and a recruiter reached out to me about a tax reporting and compliance postion so I took it for experience and because the company is a well known name. 🙃 What about you?
I love these videos man. They really made me actually start looking at my checking account and making changes. In a month I had spent over $350 going out to eat. Packed my lunch for work this morning while watching this :)
“The only thing music majors seem to know how to do is be in college” You’re not wrong Caleb 😂 I have a bachelors and a masters degree in music therapy and have many friends who did go back for masters and doctoral degrees in performance and pedagogy. Some of whom were successful, others were not. Some went to UT Austin actually. I guess this is where yours and my philosophies differ. He’s already hustling, he just needs to raise his private lesson rates and making a great salary as a teacher (58k is a dream compared to FL teachers). The connections I made in grad school were invaluable and allowed me to obtain a higher paying job with better benefits as a music therapist. Same goes for music pedagogy students, etc. Also he wants to research and there’s a very specific way of writing an academic paper (just finished my music therapy masters thesis last summer and it was a killer). Some journals will not publish you without at least a masters degree because you need that research experience. For me, the ROI for grad school was well worth it and I’ve now set myself up for a career that could reach the 6 figures in the near future. The arts are under funded but if you’re willing to hustle it can work. Anyways loved the video, I’m glad you didn’t totally dissuade him from pursuing grad school, and I do agree he should get his debt situation under control before going back to school.
I am so glad a music major said this. I get frustrated when Caleb discourages master's or PhD. It's clear that this man's research would require a higher degree.
@@BlueEyedTaty everyone wants to shit on going to college and esp going to college and post grad education for the arts. And there’s a balance between finding a job you love and one that pays the bills but I’ve always been of the belief you CAN find something that fulfills both. Most people don’t have a clear idea of what they want, or change their mind a million times (which there’s nothing wrong with that either)and this causes decades of financial struggle for young adults. At the end of the day, no one can take my degrees from me. The real problem is people living ABOVE their means and refusing to sacrifice for the sake of instant gratification. Going to college or post grad for music is not the issue, it’s far from it actually.
It sounds like you’re a high achiever and still needed a graduate degree to maybe, eventually get to 6 figures in the field. I have friends without any degree who worked their way up from stacking boxes in a warehouse to six figures as a manager in 5 years. It’s hard to justify even an undergraduate degree with current tuition if you won’t make $100k+ in 3-5 years. If you’re so incredibly passionate that you accept you are permanently locking yourself in as lower to maybe middle class, but most don’t understand that.
To me it didn‘t sound like Caleb was totally against it. To me it sounded like he wanted to encourage Florian making a sound financial decision, such as waiting 1,5 years while paying off most of his debt.
@@dericanslum1696 Did the poster above say anything about Florian's qualifications? Do you just see a black man in a field typically dominated by white women (education is especially like this at the elementary level) and think "man that guy must be unqualified, and only has his job because he's black!" Your response says a lot about you.
Credit card debt is like quicksand. You step into it. And it seems like you can manage to step out of it. And then you suddenly find yourself sucked deep into it. The best way out of it for those who do not have friends and family to fall back on is to impose a drastic restriction to consumption.
Snowball the debt. Pay the smallest off add that payment to the next, then add that payment to the next. If you stop charging anything you will see the results.
Credit card debt is legalized loansharking. Like lobbying is legalized corruption. The system just doesn't like it when others are trying to play the game outside of the tax reach. I don't understand how people feel comfortable running into credit card debt, but they would avoid loansharks and the mafia like crazy. I get, there's no inherent direct violence to your body, but looks like without that threat, people are willing to jeopardize their future and some of the most precious years of their lives. Can hardly fathom being over 50 and having to worry about hustling, when you're dead tired of working and being part of this system. One of my key nightmares.
Your sub count has doubled since I found your channel. It’s only been like a month! You are doing amazingly well Caleb! Keep up the great work and solid content!
Great show. Looks like Florian is on his way to course correction. Would be great to see a follow up with him. Love the channel! I volunteer teach financial literacy classes at an organization that helps prevent homelessness and many of the clients are in worse position than the guests on the show - this gives me more insight into what the folks I teach have gone through. I’ve mentioned this channel to staff to share, as clients hearing such advice from someone closer to their age may resonate better than from a 50-something about to retire early. 😂
I think it would be cool for the pie chart to start with how much they make monthly and it slowly eats away when adding all the necessities. Better visualization than it just showing the % of each thing within the necessities. Shows that the necessities are too much with the minimum payments
I wanted to buy icecream on my way home from school (I’m pursuing a paramedic certification). I didn’t stop because I could hear Caleb screeching “That’s bull SH🤬!!” 😂😂
I really liked the point you made about being able to give more to society when you take care of yourself first. Love the channel! Keep it up dude!!!!!
In college I was going through something similar and one of my friends said just because you don't get a degree or career in the topic/area you absolutely love doesn't mean you'll never be able to do it again. Hobbies and interests exist. At the time the idea hadn't even occurred to me.
I know it's not his case, but as a former teacher, some districts REQUIRE you to go back after a certain length of time (mine was 3 years) and get your Master's WHILE still teaching WITHOUT covering any educational costs for you. This was a great episode, very close to home personally, and such an interested and receptive guest.
I can't wait for the big reunion special in the future, a big party with all of these guests talking about how they've done IDEA: maybe get multiple past guests together in a sort of group therapy session where they discuss the things that have helped the most and the setbacks they could have avoided?
Many states offer their own loan forgiveness program for public workers. As a teacher he really needs to look into that and see what he can do to drop that.
I really like Florian. He has such a noble cause and vocation. I’m sure he feels like he’s running out of time because he was a mature student but he’s still pretty young…to me anyway! I was getting on for 40 before I got my career sorted and stable. He’ll do just fine.
I would love to see success stories! I’m sure you’re in the works with that. It would be super cool to see people that have come on the show and finally are in a better place now:) it would help encourage others that they can do it! 😊
I am amazed, I graduated high school, moved 1000 miles from home and didn't know 1 person, lived in my van for 6 years and new to get ahead. I had to save and work all I could, I worked 5 to 7 days a week at 2 jobs and always paid cash for everything, I didn't go to college because it was not a option and was to expensive, so working and saving and not going into debt was the best thing I did. After years of saving, buying homes with cash ,cars and living only on what I had , I did fine, ended up with 13 rental homes, farm ground and retired early ,I only use banks because you have to have an account for social security to be direct deposited into, Not getting caught up in americas high interest rates and having credit card debt saved me thousands of dollars and when I wanted something I just saved until I could buy things with my own money for my entire life.
@@williamlewis3582 yes I did it because I had no choice, but I learned a lot in the process and found out I didn't need a lot of the things others I new needed, it worked for me and anything is possible ,you just have to have a plan and see it thru
Friendly neighborhood Grammar Nazi here. When words are in their plural forms, you do not place an apostrophe between the last letter of the root word and the *s.* Mondays = plural; refers to more than one Monday Monday’s = possessive; belongs to Monday
I am really rooting for him. He has such a sweet nature to offer lessons at such a low price so kids can learn. That touched my heart because I played violin in school orchestra 6th - 12th grade. Music teachers are such a blessing. If you read this, Caleb is right. If you get yourself financially secure you can help so many more kids learn. Start a RUclips channel! I’d subscribe in a second!
Dude after watching your videos I just paid off like all of my credit cards. I'm not fucking around anymore. Thanks for the kick in the ass. And thank you to all of your guests for putting yourselves out there helping people like me.
Love the new layout and font for the expenses, it's a lot easier to ready 😊 Thanks Caleb! Also, the pie charts are a fantastic addition that you recently started including
I feel like I watch these to shame myself lol. I would probably be one of the worst people ever on this show. Trying to improve things, so hearing these stories helps. Also a prior music major 😂 but my first degree is paid and my second one actually was for healthcare while I was working full time in the field
I'm a CT1 Painter for a living, and I must say great choice of paint color for your studio. Also, thanks for your channel. My husband and I enjoy listening to it.
Well said at the end! Like a plane crash, you put on your mask first then help others. Get yourself out of debt so you can contribute in the long term.
Much of the advice you're giving him is super solid, things I wish I would've paid more attention to even in spite of being aware of the downsides. Liberal bachelor's, attempted grad school but burnt out after a year in. The whole need to be in school constantly thing really hit home. College is a worthwhile endeavor but definitely worthless most of the time. Best advice I heard was just do it, you don't necessarily need that piece of paper to do so. Growing up many of us (as millennials) were constantly told go to college, and especially as a black man and first generation it was big, but the payoff hasn't paid off and the reality of debt is a hard balancing act. A lot of the stuff he wants to do I have and in NJ at that making the same as him with higher rent, higher cost of living and at least twice his student loan load. That is to say, thank you for making this content because it's super helpful. The fed just hiked the interest rate yesterday, going deeper into debt isn't an option.
I really like the discussion talking through GRAD school. Hard conversations that we all need to consider and how to figure out alternative options to still doing what we LOVE. Great topic.
Literally laughed out loud when Caleb just screamed "BRASS" when the dude was trying to justify spending money on a 9k balance credit card!!! Man I hope this guy can turn it around, he seems motivated to get it together and I hope he does !! Thanks for the great video :)
Hearing someone saying "don't go back to school" is so sad 😅 don't get me wrong, I say it because in Italy education is free and everyone will cheer at you if you want to go back to study and it's sad to see that in America people have to go into debts to be more educated 😢
Feeling like the common denominator in a lot of these videos is not being able to or willing to cook. It makes such a massive impact to finances constantly ordering takeaway.
Caleb, I’m quickly becoming obsessed with your videos. Nobody teaches financial literacy and I wish I had these examples at 18 before I went to college. Ive had to teach myself along the way but I have a long way to go. I’ve already implemented some best practices just by watching your video series which has been helpful however. If you ever want to do a web-based series, I’m in Connecticut and would love to be a feature!
Easily one of your best episodes. Honestly felt like your "finance friend" giving you advice, really casual but appropriately serious. Love this channel.
Very glad I found your channel when I did. I started watching right before I got my first credit card, these videos have helped me make sure I pay my balance every month and keep it low.
Your interviewing style is so much better compared to even just 6 month ago. WAY less interrupting, you’re actually listening to your guests now, but still bringing your savage roasts / charm. Congrats!
Masterclass in how to accept the info, stay humble, and be pleasant without the annoying laughter or over-defensive excuses. Really great episode and guy seems to have the discipline to have a great future. Very inspirational.
I wanted to comment with some advice. Hoping he’ll see this. I’m also a music teacher in San Antonio. Don’t pay 40k for a masters degree (I say this even though I went to and loved utsa for my undergrad) I just completed my master’s in music ed online through Tarleton State University. The whole thing cost 13k or so, and I cash flowed all of it. There are even cheaper online programs out there now. He doesn’t need a specific degree. He just needs to learn graduate level academic writing. Teachers also get a small stipend for having a masters so it would EVENTUALLY be a net positive even though only slightly. Grad school is great, but find the cheapest route. Good luck!
Dang I’m so glad I was able to get nursing school covered completely for free. Been a nurse for five years now and still struggle. Pay in FL sucks lol but grateful for not having a ton of debt from school!
I’m headed into my senior year in college, I’m thinking about doing my masters (also music major). I am 20k in school debt and it’s the only debt I have. This video may have opened my eyes into not doing that grad school option. Lol.
It would be cool if we could check back in with some of the guest to see if the did any follow through or just see how things changed for them in the future
What I like Caleb is your so animated getting your points across to Florian , who is a chilled guy. Taking a $10,000 loan for a violin - I know its his love but he has about 24 months to dig out of his debt now.
@@evalyn3975 His Discover card showed a $10,000 total. Granted violins range in cost greatly. Same with the bows Florian was talking about - very expensive. Its really not clear @ 12 10 mark was the whole balance used on the card to buy the violin & bows or was it just the month of purchases. Master level violins cost $$$$ / same with master level bows. I think its the whole $10,000 but I could be wrong. My take is he is NOT buying a student level ( aka CHEAP ) violin / bows.
You should always keep at least a $1000 hidden/untouched buffer in your checking account balance figures. I do more like $3000 myself & have my checking account dissected apart in Excel spreadsheet into many different strategic, earmarked sub-accounts, each with their own separate balances. All paycheck deposits are split apart by Excel automatically & deposited accordingly into their respective sub-accounts categories. If your credit cards aren't all paid off every month (a big no no) then stop eating out completely & put all that savings towards paying them off.
I've seen so many high bad debt videos on here that watching this I started to feel like it's not that bad. His student debt could've been so much worse, and he makes decent money per year with giving lessons on top of that. Plus he had already started paying some things off. If he adjusts his feelings on the timing for grad school, he can get out of debt in a year or less.
I'd suggest private lessons after school & on Saturdays and up the cost to at least 50 or 60. Then you can also offer a couple of 'scholarship' lessons a week to a child or two who can't afford it - either half price or free if you find a particularly enthusiastic or talented child who can't afford lessons! You may be able to tax deduct the donated lessons throughout the year if you structure the invoices correctly showing the discount?
From Florian today: "Thanks again Caleb. I have clipped my cards and I just enrolled in a debt reduction plan. No new cards! I'm setting up my online private lesson studio right now and have set to optimizing my budget even further than we spoke about. I haven't mustered up the courage to watch the video yet but I finally see a way out of this mess. As I mentioned before, I'm going to have a serious conversation with my possible professors to see if I can defer my acceptance, or possibly start school part time and try to cash flow as I go, while keeping my teaching position long enough to pay off my debts. It's going to be a rough couple years, but I think I can do it. I'll check in with my progress in a few months. You really are doing an amazing job on these videos, so many of us are so financially illiterate. "
Caleb homie you gotta stop panicking people telling them how much of a mess they're in, they need solutions, not a hammering
@@nickybutt9733 Sometimes people need some hammering to realise their dire situation. He gave them solutions too. I think Caleb is doing an awesome job!
@@nickybutt9733 But most of the people that are in the financial situation they are in it’s appropriate to freak out a good amount of people that come on here don’t even have an emergency fund and that’s the basics and some aren’t even doing the basic which is sad he is right to freak
Ugh, I hope he doesn't go to graduate school 😫
So happy you have a plan and hope to hear an update ❤
Like this guy; I'm 30, a teacher, make about 57k, my rent is low ($715), and my total debt is about 48k between student loans, CC, and a personal loan. By helping him, Caleb is helping me by proxy. Thank you!
You can do this. Its great to learn all of this now instead of 30 years from now
AND you don't need to get roasted by the internet lol. All joking aside, best of luck to you and to the teacher in this video.
Rice and beans, beans and rice all day everyday.
You got this!!!
Can’t he get a good paying job with whatever he has does he needs a master degree in music
This guy seems like he’s probably an awesome teacher for his students. Great dude, I hope he gets it all worked out!
Absolutely
I dont see how lol. He is morbidly obese and obviously lazy. He is up to his eyeballs in debt so obviously irresponsible....
The only traits we know about this guy are that hes lazy and irresponsible. Why do we want him educating kids again?
@@CalebHammer Love your work here. You do a great job of modulating your tone of constructive criticism with each person. At the same time, the graphics/phrases in the video thumbnails are rather harsher (though attention-grabbing) and there's a bit of a disconnect in tone between the video content and the thumbnails. It might be useful, in terms of setting the vibe for your brand, to dial down the tone a bit in the video thumbnails' graphics/wording (it doesn't give justice to how thoughtful you are in talking to these people) so as to preview how you treat these folks in a very genuine way (while still using thumbnails that capture attention) (maybe the tone in the thumbnails could show your concern further)
Why can’t people work 4-6 hours on Saturday and Sunday to make $4-500 more per month. Stop all subscription service, eat out once a month. That’s it until the debt is gone. Sacrifice and self control are keys.
Yeah he found something he’s good at while being in the field he wanted. That’s better than 99% of music ppl ever. Just stick with it. There’s no big payday coming. Ppls interest in music has never been lower and it’s gonna almost disappear.
You've got to be seriously dedicated with giant balls to go in this show. I'm proud of them regardless
A musician is someone who will put a $10,000 instrument in the back of a $1,000 car and drive 100 miles for a gig that pays $10
This guy is a total sweetheart. I really hope he gets out of debt bc he seems like an amazing human being.
I see a Caleb Hammer video….I click
Facts. Consistent quality content. Caleb carries the conversation and educates on finances in a unique way that is super palatable.
Fax
Yoo same! 😂
😂
Caleb's moaning and groaning and holding his head and sighing makes me crack up!
I love how the guy is so honest: “It gets worse.” 😂 Hoping he can get this all handled!
The whole spending on kids as a teacher, so real. I find it crazy that teachers have to take out from their own pocket for school related things.
Right...the parents should be paying for him.
More teachers need to learn personal boundaries, you can love your kids but it's still your job not a charity
@@bryan8638 you are right. There is a balance to be had
@@bryan8638 yeah, i agree with this.
@@bryan8638 Nah that’s facts
You have such a way of putting finances that avoids the trappings of the standard finance bros. Truly awesome content that is invaluable. Also love that you’re a fellow musician loll
Love watching your videos bro! It’s helped me pay off 8k off CC debt in the last 3 months and now I have less than 1K left! After that it’s on to building my 6 month emergency fund and figure out what I’m going to do with my financed car!
Florian, you seem like an amazing person. We’re rooting for you!
"You're able to give so much more to people and society when you yourself are taken care of in the first place." Very well said Caleb! I use the phrase "You can't set yourself on fire to keep others warm." You have to be solid and stable first so you can better help others.
...your cup can't run over until after it's full...
I can definitely see why Caleb is so pained with this one in particular having a similar background and understanding the difficult decision that he has to make
It's always so much more intense when you can directly relate to the exact struggle that they're having
Continually going to school when it’s not going to give a ROI is insane …Caleb is the voice of reason that keeps us clear headed when the math doesn’t math
@@helena3631 oh 100%, I can just imagine he sees a version of himself that went down that route and wants people to avoid it
@@Gavo172 I agree it easily could have gone left for Caleb but he choose to think of live as a math equation and both side sides have to be balanced
A lot of arts people can't get Jobs so I'm not surprised school makes it look like your accomplishing something, when really you are just unemployed and wracking up debt.
@@helena3631Issue is, things in life isn't all about ROI. One has to realize that not all of us could be, for example, tradespeople. That would just reproduce the problem seen in white collar work, but for blue collar work. This vid is reason to advocate for free education.
Caleb is like the Gordon Ramsey of the financial world
FUCKING RAW
🙍♂What are you?
😭A fat interest rate.
Of the personal finance world.
It would be amazing to get some interviews with 65+ year olds. I'd love to see what seniors and retirees had done throughout their lives financially, good and bad, and whether they are ending up where they expected/wanted to be as children, 25-year_olds, 40-year-olds. Etc. Where they think they could have done better or worse, etc.
No debt, no bills other than taxes, insurance, and utilities.
I was lucky to have a government job with a real retirement. I also had a 457k that adds about 11k a year to my 72k retirement income. I paid off my credit cards in my 30s and I have no debt except a 125 per month car payment.
@@Sychotic1 right now I have a government job with a pension albeit way shittier than yours, 2.5 at 67. But I have a 457k that I am maxing out every year at 20.5k. I'm 26 right now and will hopefully be very well off when I want to retire.
It’s called they got pensions, way better historical returns during the booming 90s during their 50s where they have more investment income and good lord home prices back in the 60-70s versus today is sickening.
@Syndikit It all depends on the area, average prices compared with average income when accounting for inflation from even the 50s to now really aren't _that_ different. But some areas have exploded, like California, hence the mass migration out of the state by people who, for whatever reason, aren't going to be involving themselves in the bubble.
This is one of the few videos where I'm actually hopeful for the guy, he seems very self aware, he's addressing the issues, he's obviously a smart guy, I think he's actually gonna make it 👍
Can tell this guy is super smart, wish him all the best. Honestly teachers don’t get paid enough compared to superintendents and shit, hope he follows Caleb’s financial advice.
@@billjoseph1016he’s super smart
I really wish a channel like yours existed when I was in highschool. This channel is so resourceful and valuable for everyone really. Thanks Caleb for the great content, and the guests who help give us insights. 🙂
agreed!!
@@leslie3566
31:20
It did years ago when the democrats didn't didn't want everyone poor so they relied on the government.
It’s truly sad he can’t pursue his dreams without financially wrecking his future. You can tell he has a passion for his craft & truly cares for his students.
that's true of most Americans that cannot afford college.
He is going to school for something the world doesn't value. It's more sad not to know that before starting
Caleb, I discovered you about 2 weeks ago and I am so glad I did. I was able to find a local non profit in my area where I get free financial Advise and helped me create a 3 year plan to pay it all off! I have so much peace of mind now knowing that I have a plan, AND STICKING TO IT.
Working from home and financial audit on a Friday? Today is gonna be a good day 😌
So excited to watch Caleb! Thank you for being so dedicated and consistent in your content creation. We all really appreciate it and it is completely evident by your growth within the past few months. Rooting for 250k by the end of the week!
Is it bad when Caleb takes off his glasses and rubs his eyes???
YES!!!!
One of my favorite guests so far. Doesn't make a bunch of excuses.
Sometimes I feel like I shouldn't watch the videos with people around my age. I compare myself to the people who are not doing well financially and it gives me a false sense of security like I'm actually doing fine while I still have a long way to go compared to people who are doing very well.
He needs to have more guests with great finance habits
This really hit home for me, as a violinist with both a bachelors and a masters. I am lucky that I did not have to pay for my masters (coincidentally a masters in pedagogy and performance) because I was awarded an assistantship with a stipend, but if I had to pay I would be in a crap load of debt. Working in that field is difficult, and I got tired of making barely enough to survive while having to work six days a week, only a paycheck or two away from financial ruin.
Caleb is so correct on this obsession with school. I wanted to go for my DMA, but after doing the research, and working with colleagues with DMA's from places like Yale and Julliard, who were not much better off than me financially, I decided it was a very stupid decision. But, I am still obsessed with school because I am now in an accelerated nursing program. Hah. But, I am excited to make 2-3x more than I made as a musician, have consistent paychecks, health insurance, and a retirement fund. There is something to be said about having financial security while still being able to play and enjoy my instrument.
You can work 3 days a week as an RN and do gigs in between.
Masters in Performance here - I found it to be cheaper to audition to many schools to search for one that offered GA/Stipend rather than paying even half tuition scholarships that I was offered. Super glad I didn't choose a "cool" school like Cal Arts and went for the full ride.
And now I own my own coffee business but can play all the percussion instruments very well! :p
Or work in day surgery and have lessons in the evenings!
How long is accelerated nursing?
Do you have any study tips/resources for nursing school?
@TheSUPERHAPPY1 Depends on the program. Some are 12 months or 18 months. They are intense though! Make sure wherever you go it is accredited and you are able to take the state board exam after finishing.
I appreciate Caleb for showing me the snowball method isn't the only one. I started tackling my high interest credit card instead of the 0% interest one with a lower balance
My grandpa was a band director and my grandma worked at a bank with no degree. They both retired by 60 and have been spending their retirement by going to the Virgin Islands for the entire month of February for 15 years now at least. Times just aren’t the same you could say 😅
If they had those jobs today they would be on the street most likely wow
They probably lived well under their means and saved carefully. In their time, that was common.
Nah, people can and do do that still. It's just that it's more common now to buy the biggest house and car you can get a loan for and max out your credit cards buying cool clothes and iPhones and eating out for every meal. People complain about the way things used to be but don't realize it's pretty damn simple to live well even on a low income - if they paid attention and gave a shit (fun fact, they don't, but at least they can scroll Instagram all night and leave cynical comments). Sincerely, someone who made 28k a year or less most of his life in a HCOL area yet is honing in on becoming a millionaire. Work harder, comment on social media less. Good luck.
You can achieve the same things but it requires more street intelligence now. If you're friends with a travel agent they can hook you up. Of course you have to be of value as well.
@nowthatsurban I agree with your comment. I worked two minimum wage jobs but grew that to 1million in assets. It's not about how much you can make but how much you can keep.
I find it admirable that he went to college at a later age. I also did the same. I went to uni after high school for 2 years and then came home bc I didn’t know what I wanted at that young age. 5 years later, I went back to community college and got my associates in Paralegal Studies.😊 and now I work in corporate taxes, somehow that degree helped me. 😅 (the investigative part of taxes).
You still went back to school a full decade before I did. I finally went back to community college in my late 30’s, and got an associate’s degree in radiology shortly after I turned 40. 😂🎉
@@TestMeatDollSteak that's amazing! 👏🏿
What made you want to get into that field? Just wondering so I can see how I can find my future career too
@em sa when the same-sex marriage became *legal* in the U.S. in 2016, that gained my interest in civil rights. I had no idea before 2016 that same-sex marriage wasn't legal. I always thought that two individuals only had to obtain a marriage license and theb boom, they could marry.
I realized that there was (still) so much un-fairness in law, and I wanted to be part of that change.
I moved to a larger city in 2019 after graduating 🎓 for better opportunities, but the pandemic hit, and I broke my ankle at the end of 2020 (all of this time, i was working at a home improvemnt store, during school and during the pandemic) . So in my short time out of work, I updated my LinkedIn profile and a recruiter reached out to me about a tax reporting and compliance postion so I took it for experience and because the company is a well known name. 🙃
What about you?
@@jazzyj6640 does something like that pay well?
The most consistent man on RUclips, thanks for this one Caleb!
Thank you for your support!
I love these videos man. They really made me actually start looking at my checking account and making changes. In a month I had spent over $350 going out to eat. Packed my lunch for work this morning while watching this :)
Was it rice and beans :)
@@camcommute ham and cheese sandwiches lol
“The only thing music majors seem to know how to do is be in college”
You’re not wrong Caleb 😂 I have a bachelors and a masters degree in music therapy and have many friends who did go back for masters and doctoral degrees in performance and pedagogy. Some of whom were successful, others were not. Some went to UT Austin actually.
I guess this is where yours and my philosophies differ. He’s already hustling, he just needs to raise his private lesson rates and making a great salary as a teacher (58k is a dream compared to FL teachers). The connections I made in grad school were invaluable and allowed me to obtain a higher paying job with better benefits as a music therapist. Same goes for music pedagogy students, etc. Also he wants to research and there’s a very specific way of writing an academic paper (just finished my music therapy masters thesis last summer and it was a killer). Some journals will not publish you without at least a masters degree because you need that research experience. For me, the ROI for grad school was well worth it and I’ve now set myself up for a career that could reach the 6 figures in the near future. The arts are under funded but if you’re willing to hustle it can work.
Anyways loved the video, I’m glad you didn’t totally dissuade him from pursuing grad school, and I do agree he should get his debt situation under control before going back to school.
I am so glad a music major said this. I get frustrated when Caleb discourages master's or PhD. It's clear that this man's research would require a higher degree.
@@BlueEyedTaty everyone wants to shit on going to college and esp going to college and post grad education for the arts. And there’s a balance between finding a job you love and one that pays the bills but I’ve always been of the belief you CAN find something that fulfills both. Most people don’t have a clear idea of what they want, or change their mind a million times (which there’s nothing wrong with that either)and this causes decades of financial struggle for young adults. At the end of the day, no one can take my degrees from me.
The real problem is people living ABOVE their means and refusing to sacrifice for the sake of instant gratification. Going to college or post grad for music is not the issue, it’s far from it actually.
@@kaylingalewitz I completely agree.
It sounds like you’re a high achiever and still needed a graduate degree to maybe, eventually get to 6 figures in the field.
I have friends without any degree who worked their way up from stacking boxes in a warehouse to six figures as a manager in 5 years. It’s hard to justify even an undergraduate degree with current tuition if you won’t make $100k+ in 3-5 years.
If you’re so incredibly passionate that you accept you are permanently locking yourself in as lower to maybe middle class, but most don’t understand that.
To me it didn‘t sound like Caleb was totally against it. To me it sounded like he wanted to encourage Florian making a sound financial decision, such as waiting 1,5 years while paying off most of his debt.
Yessss happy to see black men in education. You got this Florian! ❤️
...is a persons race or their qualifications more important to you...?...
@@dericanslum1696 Did the poster above say anything about Florian's qualifications? Do you just see a black man in a field typically dominated by white women (education is especially like this at the elementary level) and think "man that guy must be unqualified, and only has his job because he's black!" Your response says a lot about you.
Race is a big part of it bc he’s not a statistic! He may be in debt but he didnt choose the streets. Only black will truly understand.
What black have to do with it?? Crabs.
Lol that's exactly the reason the education system sucks it's not about black or white
Credit card debt is like quicksand. You step into it. And it seems like you can manage to step out of it. And then you suddenly find yourself sucked deep into it. The best way out of it for those who do not have friends and family to fall back on is to impose a drastic restriction to consumption.
It’s easy to get into but so hard to get out it’s like climbing Mount Everest
What happens if they don't pay it off at all ever?
Snowball the debt. Pay the smallest off add that payment to the next, then add that payment to the next. If you stop charging anything you will see the results.
Credit card debt is legalized loansharking. Like lobbying is legalized corruption.
The system just doesn't like it when others are trying to play the game outside of the tax reach.
I don't understand how people feel comfortable running into credit card debt, but they would avoid loansharks and the mafia like crazy. I get, there's no inherent direct violence to your body, but looks like without that threat, people are willing to jeopardize their future and some of the most precious years of their lives.
Can hardly fathom being over 50 and having to worry about hustling, when you're dead tired of working and being part of this system. One of my key nightmares.
Your sub count has doubled since I found your channel. It’s only been like a month! You are doing amazingly well Caleb! Keep up the great work and solid content!
Honestly, I appreciate these videos because they force me to face the reality of my own student loans. Thanks for the motivation Caleb!!!
Great show. Looks like Florian is on his way to course correction. Would be great to see a follow up with him.
Love the channel! I volunteer teach financial literacy classes at an organization that helps prevent homelessness and many of the clients are in worse position than the guests on the show - this gives me more insight into what the folks I teach have gone through. I’ve mentioned this channel to staff to share, as clients hearing such advice from someone closer to their age may resonate better than from a 50-something about to retire early. 😂
I think it would be cool for the pie chart to start with how much they make monthly and it slowly eats away when adding all the necessities. Better visualization than it just showing the % of each thing within the necessities. Shows that the necessities are too much with the minimum payments
I wanted to buy icecream on my way home from school (I’m pursuing a paramedic certification). I didn’t stop because I could hear Caleb screeching “That’s bull SH🤬!!” 😂😂
I really liked the point you made about being able to give more to society when you take care of yourself first. Love the channel! Keep it up dude!!!!!
Yeah, it doesn't make sense to be so concerned abt other ppl when you arent stable yourself.
Yup, put your oxygen mask on first. It's not selfish. You can't save lives if you pass out first.
In college I was going through something similar and one of my friends said just because you don't get a degree or career in the topic/area you absolutely love doesn't mean you'll never be able to do it again. Hobbies and interests exist. At the time the idea hadn't even occurred to me.
I know it's not his case, but as a former teacher, some districts REQUIRE you to go back after a certain length of time (mine was 3 years) and get your Master's WHILE still teaching WITHOUT covering any educational costs for you.
This was a great episode, very close to home personally, and such an interested and receptive guest.
Wow
Can they actually force you to get your masters without giving you any compensation?
I can't wait for the big reunion special in the future, a big party with all of these guests talking about how they've done
IDEA: maybe get multiple past guests together in a sort of group therapy session where they discuss the things that have helped the most and the setbacks they could have avoided?
Damn this was an amazing idea for a RUclips channel. This is helping a lot of millennials like me gain perspective of our current situation.
Many states offer their own loan forgiveness program for public workers. As a teacher he really needs to look into that and see what he can do to drop that.
Came here to say this!
I really like Florian. He has such a noble cause and vocation. I’m sure he feels like he’s running out of time because he was a mature student but he’s still pretty young…to me anyway! I was getting on for 40 before I got my career sorted and stable. He’ll do just fine.
I would love to see success stories! I’m sure you’re in the works with that. It would be super cool to see people that have come on the show and finally are in a better place now:) it would help encourage others that they can do it! 😊
I am amazed, I graduated high school, moved 1000 miles from home and didn't know 1 person, lived in my van for 6 years and new to get ahead. I had to save and work all I could, I worked 5 to 7 days a week at 2 jobs and always paid cash for everything, I didn't go to college because it was not a option and was to expensive, so working and saving and not going into debt was the best thing I did. After years of saving, buying homes with cash ,cars and living only on what I had , I did fine, ended up with 13 rental homes, farm ground and retired early ,I only use banks because you have to have an account for social security to be direct deposited into, Not getting caught up in americas high interest rates and having credit card debt saved me thousands of dollars and when I wanted something I just saved until I could buy things with my own money for my entire life.
Don that's so cool I did the same for two years lived in my van saved along of money two get ahead.
@@williamlewis3582 yes I did it because I had no choice, but I learned a lot in the process and found out I didn't need a lot of the things others I new needed, it worked for me and anything is possible ,you just have to have a plan and see it thru
"I just want kids to learn". OMG I lLOVE him!!!
He seems like a good dude. I hope he gets out of debt
This is one of those guys that you just can't help but hope they make it all work. Good luck, my dude
Monday's, Wednesday's, and Friday's are the best haha! Love the series. Hoping to see some follow-ups on the older stories soon.
Thank you!!
Friendly neighborhood Grammar Nazi here. When words are in their plural forms, you do not place an apostrophe between the last letter of the root word and the *s.*
Mondays = plural; refers to more than one Monday
Monday’s = possessive; belongs to Monday
@@TestMeatDollSteak get a grip
I am really rooting for him. He has such a sweet nature to offer lessons at such a low price so kids can learn. That touched my heart because I played violin in school orchestra 6th - 12th grade. Music teachers are such a blessing. If you read this, Caleb is right. If you get yourself financially secure you can help so many more kids learn. Start a RUclips channel! I’d subscribe in a second!
Caleb you should turn the audio of these episodes into A PODCAST !!!
I listen to these as a podcast anyways. Clean my house or drive as I listen
Yes!!! I'd download so I can play when I'm travelling!
I went high school with this guy. We were in orchestra together. Crazy to see him so doing the same thing. Great for him.
Dude after watching your videos I just paid off like all of my credit cards. I'm not fucking around anymore.
Thanks for the kick in the ass. And thank you to all of your guests for putting yourselves out there helping people like me.
Love the new layout and font for the expenses, it's a lot easier to ready 😊 Thanks Caleb!
Also, the pie charts are a fantastic addition that you recently started including
I feel like I watch these to shame myself lol. I would probably be one of the worst people ever on this show. Trying to improve things, so hearing these stories helps. Also a prior music major 😂 but my first degree is paid and my second one actually was for healthcare while I was working full time in the field
I bet it'd help to let him audit you for a video, that'd really show how to get your budget back on track
Destroy all credit cards
Last Friday, I was officially debt free. I genuinely feel bad for people on this show.
Florian is honest in a funny way.
Caleb is angry funny!
Great episode.
I'm a CT1 Painter for a living, and I must say great choice of paint color for your studio. Also, thanks for your channel. My husband and I enjoy listening to it.
Caleb: what is your financial situation
Guest: Not Great 😅
At least he is honest
You should link these interviews on spotify. I love listening to you while doing easy cardio
Well said at the end! Like a plane crash, you put on your mask first then help others. Get yourself out of debt so you can contribute in the long term.
This is my favorite financial audit by far. Great advice for this young man!
Much of the advice you're giving him is super solid, things I wish I would've paid more attention to even in spite of being aware of the downsides.
Liberal bachelor's, attempted grad school but burnt out after a year in. The whole need to be in school constantly thing really hit home. College is a worthwhile endeavor but definitely worthless most of the time. Best advice I heard was just do it, you don't necessarily need that piece of paper to do so. Growing up many of us (as millennials) were constantly told go to college, and especially as a black man and first generation it was big, but the payoff hasn't paid off and the reality of debt is a hard balancing act.
A lot of the stuff he wants to do I have and in NJ at that making the same as him with higher rent, higher cost of living and at least twice his student loan load. That is to say, thank you for making this content because it's super helpful. The fed just hiked the interest rate yesterday, going deeper into debt isn't an option.
I really like the discussion talking through GRAD school. Hard conversations that we all need to consider and how to figure out alternative options to still doing what we LOVE. Great topic.
Literally laughed out loud when Caleb just screamed "BRASS" when the dude was trying to justify spending money on a 9k balance credit card!!! Man I hope this guy can turn it around, he seems motivated to get it together and I hope he does !! Thanks for the great video :)
Hearing someone saying "don't go back to school" is so sad 😅 don't get me wrong, I say it because in Italy education is free and everyone will cheer at you if you want to go back to study and it's sad to see that in America people have to go into debts to be more educated 😢
Congrats on getting the "White and Gold or Black and Blue" dress for this weeks episode! true commitment
This is honestly the first case/person where I believe they actually will do what you said
Every music major needs to see this!
These videos help me get through the slowpoints of work
Caleb is so smart! I want so much to see his pets! As a animal lover, I know other pet owners who feel the same way.
Feeling like the common denominator in a lot of these videos is not being able to or willing to cook. It makes such a massive impact to finances constantly ordering takeaway.
Caleb, I’m quickly becoming obsessed with your videos. Nobody teaches financial literacy and I wish I had these examples at 18 before I went to college. Ive had to teach myself along the way but I have a long way to go. I’ve already implemented some best practices just by watching your video series which has been helpful however. If you ever want to do a web-based series, I’m in Connecticut and would love to be a feature!
Your vids really make me evaluate my financial situation young
Easily one of your best episodes. Honestly felt like your "finance friend" giving you advice, really casual but appropriately serious. Love this channel.
I seem so hopeful for this guy! You can totally do it and it’s worth it! Rooting for you buddy!!!!
Very glad I found your channel when I did. I started watching right before I got my first credit card, these videos have helped me make sure I pay my balance every month and keep it low.
I really appreciate and admire all music teachers. Hope he can get his finances together.
Your interviewing style is so much better compared to even just 6 month ago.
WAY less interrupting, you’re actually listening to your guests now, but still bringing your savage roasts / charm. Congrats!
Masterclass in how to accept the info, stay humble, and be pleasant without the annoying laughter or over-defensive excuses. Really great episode and guy seems to have the discipline to have a great future. Very inspirational.
I feel like a sadist because I love watching Caleb rip people up
I’ve only just started watching this channel, but this is the first guest that seems genuine to getting help
I wanted to comment with some advice. Hoping he’ll see this. I’m also a music teacher in San Antonio. Don’t pay 40k for a masters degree (I say this even though I went to and loved utsa for my undergrad) I just completed my master’s in music ed online through Tarleton State University. The whole thing cost 13k or so, and I cash flowed all of it. There are even cheaper online programs out there now. He doesn’t need a specific degree. He just needs to learn graduate level academic writing. Teachers also get a small stipend for having a masters so it would EVENTUALLY be a net positive even though only slightly. Grad school is great, but find the cheapest route. Good luck!
The fish tank addition 👌🏼
Another great lunch hour to have this to watch.
Dang I’m so glad I was able to get nursing school covered completely for free. Been a nurse for five years now and still struggle. Pay in FL sucks lol but grateful for not having a ton of debt from school!
I’m headed into my senior year in college, I’m thinking about doing my masters (also music major). I am 20k in school debt and it’s the only debt I have. This video may have opened my eyes into not doing that grad school option. Lol.
It would be cool if we could check back in with some of the guest to see if the did any follow through or just see how things changed for them in the future
What I like Caleb is your so animated getting your points across to Florian , who is a chilled guy. Taking a $10,000 loan for a violin - I know its his love but he has about 24 months to dig out of his debt now.
It was 1,000
@@evalyn3975 His Discover card showed a $10,000 total. Granted violins range in cost greatly. Same with the bows Florian was talking about - very expensive. Its really not clear @ 12 10 mark was the whole balance used on the card to buy the violin & bows or was it just the month of purchases. Master level violins cost $$$$ / same with master level bows. I think its the whole $10,000 but I could be wrong. My take is he is NOT buying a student level ( aka CHEAP ) violin / bows.
The purchases that month totaled 1592. The previous balance was 8266. The debt was added to by the violin purchase made during the month of February
@@Sk8forever Your assuming he didn't Buy the violin BEFORE February & these new purchases are not JUST the new Professional Bows he talked about.
You should always keep at least a $1000 hidden/untouched buffer in your checking account balance figures. I do more like $3000 myself & have my checking account dissected apart in Excel spreadsheet into many different strategic, earmarked sub-accounts, each with their own separate balances. All paycheck deposits are split apart by Excel automatically & deposited accordingly into their respective sub-accounts categories. If your credit cards aren't all paid off every month (a big no no) then stop eating out completely & put all that savings towards paying them off.
I've seen so many high bad debt videos on here that watching this I started to feel like it's not that bad. His student debt could've been so much worse, and he makes decent money per year with giving lessons on top of that. Plus he had already started paying some things off. If he adjusts his feelings on the timing for grad school, he can get out of debt in a year or less.
When Hammer starts to hammer the table its hammer time
Seems like a very nice guy. Wish him the best
I'd suggest private lessons after school & on Saturdays and up the cost to at least 50 or 60. Then you can also offer a couple of 'scholarship' lessons a week to a child or two who can't afford it - either half price or free if you find a particularly enthusiastic or talented child who can't afford lessons! You may be able to tax deduct the donated lessons throughout the year if you structure the invoices correctly showing the discount?
his take home pay may have been overestimated. I don’t think $58k per year would net $4,500 per month.
This was a great one, the way yall meshed about things. No arguing and the dude actually listened to what you had to say. Good deal.