It shot my anxiety to the roof and I dont even have financial issues. Too early for a glass of wine. I may have to wait for this evening to finish this video.
100% he needs an envelope budget. But I am not sure he will be able to not cross pollinate envelopes when he over spends. At least he will SEE what he is actually doing.
Dude this channel is so important. We have a whole generation (maybe several) that have been completely left out in the cold on financial literacy, all poised to chase an unattainable lifestyle. Your channel is going to change lives.
Caleb has already changed my life personally, in a lot of ways. I've started to really change the way I feel about food and cars for sure. I'm currently debt free which feels amazing as well.
The truth is it didn’t matter till recently. U could piss about for 10 years between the 50-80’s and still afford a decent house. Now if ur not on it as soon as u stop being a burden on ur parents then ur gonna struggle to afford to stay afloat
@@JohnSmith-op7ls no idea why people hate watch stuff like this AND leave comments. do you know financial advisors exist in real life? some people need somebody to TELL them something
This channel is proof we need mandatory personal finance classes in schools, especially with as bad as this generation is with delayed gratification. Too many people are digging themselves into massive holes from 18-25 that can take years to get out of.
I'd love to see it. however, my rural high school had a financial mathematics class as a replacement option for algebra. it turned into an "easy way out" class for people who were on the verge of dropping out. begging the teachers to get C's and it felt like 10% of the people in those classes took home any meaningful education from it. So many people just need to feel the pain before they learn anything unfortunately. Proper impulse control and basic deductive reasoning would be way more beneficial than trying to cram interest rate calculations down people throats that don't see any value in it IMO.
As a crusty 55 year old and parent of a 24 and 26 year old, I think your doing great a great service for the younger generation. I believe, even though your straight forward and sometimes brutal assessment, it's not nearly as critical or judgemental as someone my age giving the same advice. Being closer in age and understanding the wants, priorities and financial challenges is key. You're a great mentor. It's easy to understand why your channel is growing so fast. Congratulations!
@@d_all_in I don't get the boomer - but I get the eye rolls. I'm 27 and make 6 figures... if you won't take my advice, then whose will you? And why did you bother asking in the first place?
I was this kid in my early 20s. It destroyed my finances. I am now in my mid-30s and I am so freaking aware of my finances and in a pretty good place. I'm not sure I would have listened in my 20s but channels like this are SO important because when you ARE ready to make a change, this is how.
I’m trying to get better at age 27. Thankfully landed a decent career with 401k matching, about to start the journey of learning finance and budgeting. Very daunting when you also have to deal with everything else life throws at you
@@a-lie-n Way to go with the job, Take advantage of advisors for insight if they are offered at no charge. It was a major step learning it all wit that first "career"!
That was me as well. Would live beyond paycheck to paycheck, taking out cash advances from credit cards, paying minimums and seeing I have available balances, so I would keep charging. It was an endless cycle. I knew I was charging things on credit I couldn't afford, but it was addicting. Buy buy buy, worry about it later maybe? That was my mentality. Now mid/late 30s and I am much better. and credit score in the mid 700s
@@matthewcaldwell8100yeah it is I’m 22 myself and I have 6 figures saved away investments. Self made no inheritance. Once I had a credit card for $1,500 I maxed it out then paid it off and cancelled the card because I hate the feeling of being in debt. If you’re smart you never end up in this situation. Ironically I’m a high school drop out didn’t even graduate grade 10. Also I was kicked out of my parents house when I was 17. Never had nothing handed to me unlike most my age yet I still have more money than most my age.
As a 23 year old I’m so glad I found your channel a few months ago because I had no one to teach me about finances. Both my my parents are in credit card debt so thank you Caleb, I appreciate you ❤
I'm in my 30s and I can tell you I am finally old enough to really see the differences between my peers that have either been taught or self-taught themselves about their personal finances. The ones that have done neither are getting wrecked/rekt, keep up the good work.
I'm surprised you didn't realize that the reason for this "switch" is that whomever he was into at the bar broke his heart or it didn't work out and he's like a resolutioner on a New Years kick. I hope the best for him but once he finds someone new to latch onto, his plans will go out the window.
Yeah he seems pretty hollowed out and depressed. Emotionally and spiritually, seems pretty weak. Needs to make a change both physically, mentally, and spiritually to pay off this debts… I know I need to also. Sometimes the spirit can be negatively affected by everything that goes on in life, you have to be stronger and grow above that.
My wife and I are currently in the process of paying my truck off and starting get her student loans in order. $4,500 left on the truck and now no credit card debt. Once the truck is done we should have the student loans paid off in roughly 3 years. These videos really help keep me motivated and show that we are on the right track!
Stay strong 💪🏽 I'm down to $3,200 out of $14,000. Poor financial education, wanting to impress others, and desiring the life others had put me in a bad spot. Advice like this one is what pushed me forward and kept me accountable. YOU GOT THIS!!!
Good for you! I had to pay off my credit cards three times before I finally learned. It's a good thing that I make a lot of money, but the more you make, the more you spend.
Really feel for this kid. These conversations are so important. Baby steps into figuring life out is still progress. Much love to all in this situation.
Your videos have woken me up. I need to get my shit together financially. My 2023 will be focused on being financially responsible and thriving. Thank you, Caleb.
Always remember one good year can change your life!!! I slaved for a family friends concrete business for 4 years and opened my own business this year and did alittle over 200K in business Keep your head down and just work Opportunity loves hard work
Really scary to think that half the world has an IQ under 120. That is all the Trumper RepubliQans, all the people too dumb to invest in crypto like CasinoCoin etc. Yikes.
Watch this makes me realize I had really good parents. They tought me all about finances. They always told me to not spend more then you make. Always pay your bills before they are due. I'm almost 40 and have 0 debit, own my home and car free and clear.
I was his age when I got evicted from my first apartment. I missed one check from work and couldn't pay. I'm now 27, married with a 1 year old daughter, a home owner and get to work from home with my baby and watch her grow every day. Paid off all my student loans and a 4 month emergency fund, retirement is rolling and we bought our cars in cash. It's CRAZY how much 5 years can make you into a totally different person. He can do the same. 💕
Similar situation here. At 21 I was in debt for a car I was in over my head on, thousands in credit card debt ($8k+), and living paycheck to paycheck. I was making maybe $32k a year. I am now 27, married, a homeowner, I pay off all bills and debt (student loans & car payment), and I am able to save at least $3-$5k per month. He can totally make this right - just gotta make a plan and stick to it! These last 5 years have NOT been easy - but they sure as heck have been rewarding!
@@OGN123 You and I are living proof that it's possible!! If we came on this show at 22 Caleb would have torn us up ☠️ And yet here we are now killing it! Every day, month and year is a battle but your life is too precious to waste.
He's being so honest and taking accountability for his mistakes. That's such a huge step towards fixing his situation. I pray he continues to stay away from the alcohol. It seems like it is the root of most of his problems, but the future could be really bright for him if he fights through all this debt. I wish him the best.
Caleb is a pompous, self-righteous dickhead. I don’t find the comedy in shaming someone who is clearly drenched in shame. This won’t change him, it will only make him feel guilty and bad about himself.
His future is not bright at all. He is the kind of person who will blast through any amount of money in record time. He obviously lacks any sense of self awareness.
This is a great idea for RUclips series. Financial literacy is so important and too many young people lack it. I've always been a "numbers" guy, but didn't educate myself on and pay enough attention to my financial status/future. Im in a good place, but it took years to get there (and into my 30s). Im taking it upon myself to help navigate my 18 year old nephews through financial planning through and after college. I never had anyone teach me these things, and i want them to be armed with that knowledge at least.
Easily the best Finance related RUclips channel I have found. I appreciate the realism rather than another person trying to push their getting rich quick strategy
How can it be the best financial channel when most content is talking to people who don’t even know that working 40 hours a week will bring in money to PAY THEIR BILLS!!!!
Really scary to think that half the world has an IQ under 120. That is all the Trumper RepubliQans, all the people too dumb to invest in crypto like CasinoCoin etc. Yikes.
It’s hard for people to make drastic changes so quickly, especially if they lack discipline and self-control in their spending habits. So, I think having a fun budget is more realistic and easier for people to manage than cutting off all fun spending. I wish him the best!
A lot of the answers to Caleb’s ‘why’ questions are: “I’m poor so the system feeds on my debt. I see no way out so I enjoy the moment rather than plan for the future.”
@_Y.Not_ When the one who leads you through the jungle fails to point out the quicksand that he avoided, is it the followers' fault for falling into the trap? Should the leader not offer his aid? Should he not apologize?
Wow, I would say this looks more like his mental health made it hard to deal with everything and the “just having fun” was more of a coping mechanism from not knowing how to deal with it. Even his “smile” is him just coping with what he know is effed up. I feel for the guy
Someone finally said it jeez the commenters on this channel are animals my opinion he probably has some sort of personality disorder and alot of shit that's happened and those toxic friends he talked about enabled bad behaviors he's now acknowledging of it and trying to get out of his situation and everyone is like he doesn't even know how bad it is like tf if he didn't have a single clue do you think he would even be there no he'd be partying he obviously cares
@@josephmother2659 Oh for sure it's got a LOT to do with that. But I'd bet there is something underlying that as well. But I'm not going to armchair psychiatrist this lol. Just hope the guy can stay head above water.
Yea I can get very cynical sometimes when watching these. I sometimes need to step back and empathize with what they’re going through. I also recognize that mental health is not a 100% excuse where they can just say that’s why they do what they do and keep doing it
I don’t know how you do it Caleb, because hearing these rough financial situations over video stresses me out, and I’m in a good financial situation! I guess that’s why you have 60K subscribers tho! Keep it up man!!
You went from 1,000 subs to 111k in 6 months?! That’s amazing and your content speaks for itself. These interviews (mainly your reactions 😂) are super motivating.
I love that Caleb loves to help people so much that he sometimes can’t avoid becoming a tiny bit of a life advisor in order to supplement his financial advice. A lot of older brother energy
@@CaliBlazer777 i mean it is an emergency. He had a 500 credit score and is about to have thousands of dollars in debt go to collections. Being 22 doesn’t change the urgency of his financial situation.
a 500 credit score is a literal emergency. you are ruining any chance of owning a home, not paying exorbitant interest rates, getting any sort of loan, and many other things.
Your ability to simultaneously educate and roast people will never get old. Judging by how “inconclusive” he seems in the first few minutes about his hours and income is foreshadowing the title of the video. Commenting for the YT Algorithm Pt.60
Yeah, but he doesn't give all the options like bankruptcy... which in many of these cases is the obvious choice or option... not like we had a pandemic where people couldn't work or anything
@@riggingpots3453 bankruptcy should be absolutely last resort.... only to be used when youre finances have no hope at all to repair the damage, not even 1% chance of clearing the debt.
Really scary to think that half the world has an IQ under 120. That is all the Trumper RepubliQans, all the people too dumb to invest in crypto like CasinoCoin etc. Yikes.
He is really good at trying to dance around the big picture. There’s definitely something that he’s not sharing that caused him to be where he is now and I hope he gets the help. He needs and succeeds.
I think it was a classic case of parents being overprotective and then let you be when you move out… He started out pretty good. That money could only come from his parents. And then went downhill pretty quickly
Really scary to think that half the world has an IQ under 120. That is all the Trumper RepubliQans, all the people too dumb to invest in crypto like CasinoCoin etc. Yikes.
@@markalbarracin2011 he also just strikes me as just not even trying. Like when he said he couldn’t be an actual bartender because they only wanted women and then he was asked why he didn’t switch I get the feeling the real reason was “well it was a little too much work to bother looking for a different job”. Don’t know if it’s actually how it is, but that’s the vibe I’m getting Edit: the bank account waiting a week to actually add to the balance and it’s the same thing. “Why haven’t you switched banks?” “Well I’ve been thinking about to idk it might happen”. Like he should care more if it’s actually a problem but he seems just to be like oh well, nothing I can do (without putting in minimum effort)
I am fortunate to have spent the last few years of my 20's regaining control of my finances and have found myself debt free and a person who YNAB budgets religiously in my 30's. I cannot imagine where I would be if I had not done that and reevaluated my behavior. This channel is one of the best financial channels on RUclips, if not the best. It will save your financial life if you listen to what is being said here. Anyone can take this advice and apply it to their own financial problems. Caleb is no bullshit and tough love. And it's exactly what people need to hear. Glad this channel is blowing up!
My dad didn't teach me jack about investing, but he repeatedly told me as a kid about the stupidity of holding credit card debt. Thankfully this was one of the things I listened to him on.
Technically he’s right. My score is 815 with all cards paid, but if I let one keep like $20 on it my score goes to 835. So I try to be sure to keep a very small amount on just one card, small amount bein literally like $20
Retirement for some people becomes their bondage in poverty because they failed to invest with the little they have on their active years of working, this is an error we need to start working on now, I’ll advise that while you still can work and earn also take some money aside and invest in your future after retirement so this classification won’t have to be yours
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻
The ten seconds starting at 42:25 are SUPREMELY important. Early adult years are HUGE for laying a wealth-building foundation. The financial dumpster fires we all see on the Financial Audit series are not just bad right now in the moment, but they are exponentially worse when you consider the opportunity costs of several lost years of compounding growth. Never lose sight of that!
The sad thing is that there are thousands of young (and older) people like this young man everywhere in similar situations. Speaking from my own experience, budgeting won’t work without self discipline.
My parents weren’t rich but they always said save money for emergencies, don’t spend too much on luxuries and don’t go into debt. The bare basics will take you farther than most. Hopefully this was a wake up call for him.
So glad this channel was recommended to me. I used to do this for a living and people didnt believe the situations that came across my desk. Putting this on the platform is genius and emphasizes just how much people need financial education. Caleb you have a new sub!
I’ve had this thought for a long time But knowing personal finance is seemingly overlooked in high schools across America, I want to personally teach my children personal finance and how to be financially literate.
Every time Caleb goes down 5 minute rabbit hole to find out why he’s not paying something just for him to answer with “I didnt have any money” I die 💀💀💀💀
Really scary to think that half the world has an IQ under 120. That is all the Trumper RepubliQans, all the people too dumb to invest in crypto like CasinoCoin etc. Yikes.
I used to work at a bank and do financial coaching all the time. Anyone who thinks this is just a young person problem you are sadly mistaken. Things don't just magically get better when you get older you have to work hard and have a BUDGET.
He isnt taking this too seriously. If i could be 22 again, i would understand how critical it is to start life on a good leg. Its such a help and makes life easier in your 30s.
i wont even sleep if i was in his situation, let alone smile like a dumbass😂😂😂, this mf is litteraly spending 11% of his income for sim and internet plan😂 meanwhile i got the most expensive ones (unilimited everything with no speed limits on sim card and wired for home) for 2.5% of my income😂 and im thinking im spending a little too much😂
Every 18 year old should watch this channel. I’m super lucky that my parents taught me how to use money. Love your advice to people that are struggling
An average 18 yr old wouldn't understand these videos. I'm 34 and I barely do. Luckily I'm smart enough to have a financial advisor to do all this shit for me. That's really what an 18 yr old needs- a financial advisor.
Honestly, not the absolute worst position since he caught it early. If this dude focuses, he could be debt free and a CNA within 2 years easily. Wishing him luck
Honestly I was him when I was 22. Now I’m 26. But I didn’t wake up to this till 24 so good for this guy to want to be better. My parents never talked to me about finances, so I never took it super serious until I wanted to get my shot together
@@angelgjr1999 proxy war between governments for control over natural resources. Destroying human lives in the process. Shouldn’t support governments that ruin innocent lives for no reason.
I just want to say that there is hope. My financials looked very much like this 3 years ago (mostly from a spending problem and binge eating disorder/eating out) and today I only have one credit card account left to pay off at 6,000 dollars. I will be debt free this year! It took me stopping all my dumb spending, working 60 hours a week, and budgeting every month. Your advice is spot on and I can’t wait to be debt free so I can start saving money like no one’s business! 💙
You should have at least 1 Million subs by end of 2023. People need to realize how screwed you can be if you’re irresponsible with money. And these audits/stories will show what some people need to do. People that are bad with money, you’re not alone but you do need to work on being more responsible. Good stuff Caleb!
He seems very lost. Not just financially, but spiritually...The disarray with financing is tied to relationships, and I would be curious to know what his home life is like, because he is couching surfing to get by. He needs a hug and then a spreadsheet to track his finances. Sharpen that pencil!
I totally got this vibe from him as well, I have struggled with mental illness and addiction myself and my unhealthy coping mechanism was to avoid, ignore, and isolate. His complete lack of understanding and even caring towards his finances is, I fear, tied to something bigger in his life, and his finances are simply a result of that. At the same time, I can only speak for myself and of my own experience, and I hope and pray that Josh truly is doing better with alcohol and is happy ! 🙏🙌❤️
Actually the $150 fun budget kinda makes sense. I worked insanely hard in my late teens early 20s to try and be able to buy a house, but occasionally I would buy something really stupid just to keep myself motivated. Notably some expensive sunglasses and a designer wallet. It sounds ridiculous, but I was bringing home almost 5k a month sometimes more and spending less than $1,000 of it. Eating maybe once or twice a day sleeping maybe 6 hours a night. I don't think I could have done it without buying nice things to remind me of what my life could be if I stay at it. I would totally recommend it but only if you can afford it and if you have absolutely no joys in your life.
What's the point of grinding if you never see some of the benefits. Going cold turkey on everything makes me just spend more later after a long nothing.....the occasional gift to yourself Is clutch.
But using the $150 a month is way more valuable then a little bit of fun on something that doesn’t last. Dropping it down to $20-30 is more reasonable.
Were you able to buy a house with this mindset?? I only ask because I’m 20 right now and doing the exact same thing for the exact reason. I just want it all to work out.
@@angelinvargas7230 it wasn't just that. Realistically it was the mindset that if I wasn't working I was losing money. I just couldn't keep that mindset up without giving myself little splurges here and there to keep me motivated and feel like it was actually worth it. I set myself a huge goal, gotta have some stepping stones in the middle or you'll drown. You decide what those can be for yourself just be realistic.
I’m here for the grind but I’d recommend focusing on 2000 cals a day and 8 hours of sleep. That is one area that will destroy you and your drive if you don’t keep up with it
Tbh I'm glad I found your channel now rather than later. 27 made some horrible financial decisions early in life and starting to make major changes to fix it. Seeing these videos helps me with figuring out a direction and how to fix it
@@CalebHammer oh shit you actually replied. Appreciate that. I'm lucky in that I have no CC debt, no student loans but old medical bills and my first mistake of a car loan that went upside down that I'm working on. So realistically these videos have given me so many tools to look towards budgeting and payment strategies etc. Keep up the fantastic work and your method of ripping someone down while simultaneously building them up is amazing especially for people watching that need to hear it.
I want to meet with you so bad but I'm embarrassed by the potential of anyone I know seeing the video lol. Went through a very bad financial time in like 2015 and have been trying to rebuild ever since. Love the content, man!
This probably the most entertaining audit I’ve seen so far. I feel his pain and understand why he could only laugh at his situation. I do hope he’s able to turn this around, thank goodness he’s also still 22 and still able to change.
I think he needs to be in a lot more pain bc he definitely isn’t getting the gravity of how royally f’d he is. Lates stay on your credit for SEVEN years and collections will keep selling the accounts so the clocks starts all over again. I have a credit score hovering at 800 and I have both on my credit still!!
I’ve got 3 lates (all in 2019) on my account, but those happened on a $5k student loan I fully paid off 2-3 years ago. I’m only 24 and they happened only because I was still figuring shit out & transitioning between dropping out of college and getting a job. So I think they should be off by around 2026.
I hope he takes your advice! I feel like he was so glazed over and overwhelmed the whole time. I don’t think he realized how bad it was. I hope he understands now.
I wish I could give this kid a hug! I hope he drops Chime and takes your advice to heart. I’m 32 and was financially lost at his age as well but reality has to kick him down to want to really change.
I was right there with ya, buddy! (also in ATX) I didn't realize I'd developed an alcohol addiction, which affected my life hugely. I was out drinking almost every night of the week because I was so sad and lonely, I just didn't want to be home alone. It's taken me years to climb my way out of that mess, psychologically and financially. Finally got my credit score back to a good number and am stable. Alcohol free for 2 years now. Good luck, man. I hope you can get some consistent support
So, I consume this series mostly when I drive back from work. It's enjoyable to listen to and perform the mental math of what's best to do for the guy on the other end. As of late I've been watching more and more on my PC and I have to say the editing is great. It's non-intrusive but makes a big impact. I don't know if Caleb hired someone, but it's working well.
This video reminds me of the very recent case I've had with one of my 3 best friends. He was(is).... a very peculiar case. Doesn't know how to manage his money, wants constant immediate gratifications(going to tematic parks, inviting others to restaurants, buying useless shit, making himself look good in front of people...). And every time he can't get something with his immediate posibilities at reach, he always looks for a way to make it happen. Back in december 2022, we had a talk as a group and decided to organize a travel to Japan(3 of us, including him) for the next year. But that needed a shit ton of planning and making things right and knowing what we'd do and what we could do in advance. In other words, we needed realistic numbers. And was then when we started discovering all the shit that *one* friend had hidden under the rug along the other shit that was going on on plain view. It was incredible. He had 6 holes open(debts): to his late landlord(hadn't paid rent in 5 months), to cetelem for an iphone, to his credit card, to his bank for a small loan he had, to the gas company for some unpaid bills, and to an acquaintance of his. It was 10 of December and he was already on 0€ in his account, with 5000€ in debt. [Note that this is Spain, and we get paid monthly. Plus the wages/cost of living are way lower, so a debt of 5000€ is huge for someone without firm ground to stand on.] But in that awful situation, he decided to go to a damn travel agency and finance a damn weekend to Disney Land Paris for him and his 3 cousins, adding the 7th(and most idiotic) hole into that whole mess. (An extra 1200€ that he'd start paying that after 3 months, so who cared, right?) By the end of december, his old landlord was giving him an ultimatum with risk of calling the authorities, and his whole life was about to go down the drain and probably never be able to recover. So I went in, had a long talk with the other friend of ours, went where my idiot friend was, injected 2000€ of my own into his account to pay the most urgent stuff and to give him breathing space, reorganized his whole life, controled his finances up to every single € from then on, injected more money whenever was necessary and gave him what was probably the most important resource he'd had in the last decade, which was someone with authority over him capable of saying *No* every time he wanted to throw money into useless shit. As a result, we had a great 3 weeks in Japan in August 2023, and he has closed every single one of those 7 holes, except for what he ows me, which he'll finish paying on April 2025. I don't have the authority or the energy to act as a policeman anymore, so I really hope he turns his life around once he finally has no debts left.
I just want to also say that the "Don't pay off the full balance of the credit card" advice was also given to me by my own mother who worked at several banks. So this bad advice has been around and propagated for a looooong time.
@@vanguard6937 that’s exactly how they work. If you make payments on time it’s better for your score then paying it all of at once. I’m in my 30’s believe me I know
Great channel. Financial responsibility needs to be taught more, and your channel shines the brightest light on irresponsible spending in a great way. I went from a credit score in the high 700s to high 500s due to drug addiction and poor life choices. Got myself back on track, cleaned up, paid off all debt, score is almost back to 700. Got an almost new really nice car, 3 new credit cards I use responsibly and keep at less than 20% utilization, and the score keeps going up and up. Finally have an emergency fund, money in savings, things I didn’t have before. Thankfully I’ve had a great job for the last 17 years and I didn’t lose that during my addiction and very irresponsible years.
I just wanted to say, a few days ago I watched my first video on your channel. Before finishing the video I stopped everything I was doing. I paused the video, I created a Roth IRA and started to contribute money to it. I have since set up daily contributions and I am already making moves to dump as much money as I can in there to secure my and my families future. my only regret is that I waited so long to do it. I am currently 28 years old, so I lost out on several years of compounding interest but its better late than never. Thank you for the push!
i would just like to say that i’ve learned far more about finance from a few of your videos than i ever have from 11 years of school and i appreciate it
It breaks my heart to hear the way he talks about his addiction. He seems to have a severe misunderstanding about it. I'm glad Caleb pushed a little on that, just going to a bar to see someone isn't what makes you an addict. I feel so sad that he doesn't get it. I see hope for him, he seems to want to take accountability, that's a great first step. But I can't say I'm not concerned about how he doesn't understand it or believes that he can just stop drinking and be done forever and just instantly be better with money with no problems. He seems so sweet but he needs to understand his addiction and the seriousness of his situation before he can get better.
These are great and extremely valuable as a young bachelor with no family. In the future, I'd love to see a follow-up up with some of your guests to see where they're at. Thanks for the content!
Caleb, you can make great money as a nurse these days. I am a NICU RN and make great base pay for my scheduled shifts, but the staffing is in such a place that the money being offered to pick up extra shifts is astronomical. When I pick up extra hours it’s minimum $85/hour. Usually $100/hour. And that’s in Iowa which is one of the worst paying states for nursing. Many young people on my unit are leaving to do travel nursing for a year and pay of every lick of debt they have, including mortgages. There are contracts out there by the dozens taking home 30,000 for a 16 week commitment. Yes you have to put in the time getting licensed but the opportunities are endless👍 My husband and I really enjoy watching your channel! Thank you!
I would love to know what happens with these people 6 months or 1 year after this conversation. Did they manage to turn their lives around? Did they go back to their ways? They never changed in the first place? How is their financial situation now?
Your score at the end is on point. He is still playing the game: I’ll get around to it one day. His friends and family need to show him tough love and make him pay for rent and monthly expenses. enabling this kind of behavior is so sad and is limiting his potential and crushing him with bad debt.
This guy sounds like he can make it, because he sounds like he’s genuinely trying. He sounds like he’s dancing around some severe stuff but he learned young, but frankly for the moment he sounds like he’ll be ok
You NEED to make a series where you interview the PARENTS of the people you have on. As crazy as these videos are i bet it would be even more interesting to see why they got where they did to begin with.
He is using a ton of what appear to be shame management techniques. I really worry about where he went from this audit because this does not strike me as someone who is simply off having fun. He strikes me as someone who is hiding from himself, and this would be a hard look in the mirror. Hope he's okay and knows it's okay to start small from wherever he is right now.
@@mattharpell91stop blanket labeling ENTIRE generations...its idiotic. And also gen z have shown much more financial responsibility than previous. Facts don't care about your feelings.
Praying is blind comfort. It doesn’t matter if you pray to God, Jesus, Mary, your dead uncle…or a rock. The prayer never leaves your head. They go nowhere. The coming true part…has no correlation to prayer, other than random chance would have. No prayer has ever stopped bullets or bombs.
This is great to share. These people are taking a risk for putting their situation out there in RUclips for financial advice, so I thank them for giving a story that many people probably relate to. Overall the finial advice you provide is essential especially for young adults. We have an epidemic of debt and this shows us how it is created.
How am I just now finding this channel?! Caleb, I love your content. Keep it up, you may seem harsh to some, but you are HELPING your guests! They need the tough love. Keep up the great work.
If you can't afford a new BMW you defiantly can't afford a used BMW. I wouldn't consider a used BMW/Mercedes/Audi/Porsche ever. Money pits. Edit - I drive a Honda FIT, great car, averages 39.8 mgg.
I would recommend to him to get a CDL Class A and go on the road. Still young with no kids, no current permanent residence so no rent, he could get licensed and get in the truck in a month and start stacking up money, catch up on the debt, live in the truck so no rent, and that lifestyle would help him to keep out of the bars and party scene. He is already doing a driving job and while they are radically different he obviously isn't adverse to long drives.
While this is definitely the best option for him, it seems the social aspect of life holds too much weight which is why he seems hesitant with the suggested cutbacks.
As a 44 year old truck driver now driving local for last 7 years from otr for 16 or so iv lived in my truck for years at a time off and on so yea you save money on rent you spend that living out of the truck washing cloths every meal is a truck stop or dinner somewhere yes you can prepare meals in the truck but often there’s little space for food storage so you eat out more then you eat in then you have the high phone bill for your entertainment being your phone is your life line to the world you know so you pay a high bill for the extra data and still use more then you are allotted so that cost more then there’s showers while if you use your loyalty card at fill ups you get free showers at pretty much all the big truck stops but if you don’t it’s 16-20 a shower athe list goes on and on now your biggest issue is your paid by the mile usual for a new driver fresh out of school it’s 39 cents a mile it was 20 cents a mile when I first started and your mileage each week is based of what that send you for loads and the miles it has on it if you take every load sent and they like you and you keep the door closed and the wheels turning you can do 3200 miles a week maybe little more if you try so all said and done your not really making a lot of money for what your paying to survive out on the road but it can be done if your hard enuf to work through the beginning stage and do the work it’s not as glorious as you think living in a truck
@@tedhart4468 ur right I've been OTR now just over 10 years and O/O for 6 of those and as long as you can adapt to the lifestyle, control what you eat at the truck stops, and obvs not be concerned with having to shower every day lol then he could get things back in order in his life. As you are aware it's a lifestyle change just as much if not more than just a job change, tough but it can right the ship of life over time if he's willing to make the sacrifice
i grew up in san antonio and my peers financial decisicons never fail to dissapoint me, growing up unstable has made me desperately want financial literacy and stability. you really are doing the lords work
Just discovered your content from shorts, absolutely love this channel..seeing these people painfully reminds me of my own terrible financial choices and lack of accountability/direction in my early 20s, thank God I crawled my way out of it and started making things better, it kills me to see them not realizing how serious their situation is..
I hate this new era of always 'having fun'. It's creating this expectation you should get everything you want with no work, and regardless of consequences and ownership of your actions. Life is much more than that, and fun doesn't equate to spending money. There is SO much you can do that is fun, that doesn't cost a dime. Thank you for what you do! The more financial education is out there, the better! I hope this kid genuinely makes better choices moving forward.
The 2013 BMW payments are just one factor. As someone who has owned 2 BMW's, the maintence/ repair fees are way higher on this make than any other luxury car. Brutal and inevitable on a 10 year old model.
I have a 2008 BMW 335i. I definitely know what you are talking about. I only have it as a luxury car because I can afford it lmao 🤣 I would never wish a 22 year old like him to own a BMW, especially if you are bad with money.
My old coworker has a 2013 330i and even simple mechanical work is nearly impossible for most people to do by themselves. I can completely rebuild most trucks, I've done all mechanical work on my Corvette by myself, but changing the starter on a 2013 330i is one of the hardest car things I've ever accomplished. It took me an entire day and I nearly had a mental breakdown. I can't even imagine what BMW charges to work on those things. They're cool.....but dude the average person, especially if they're already in a financial bind, cannot handle the mechanical needs of a BMW.
There’s a reason BMW owners unload them the minute they fall off of the factory warranty. My buddy bought a 5 series for a song and very quickly learned what a money pit they become. His words “I absolutely loved it - when it wasn’t in the shop.” Every repair he had to put into it was running into the $800 - $1000 price range. After 2 years, he was over the BMW “driving experience”.
Hope y’all got your tums on standby 😅
It shot my anxiety to the roof and I dont even have financial issues.
Too early for a glass of wine. I may have to wait for this evening to finish this video.
100% he needs an envelope budget. But I am not sure he will be able to not cross pollinate envelopes when he over spends. At least he will SEE what he is actually doing.
You have a great Channel Caleb. I am a new subscriber. You will have 1 million subscribers in no time. Keep up the great work!
I had to stop and breathe. Wow. Good luck bud.
Honestly I’ve only been able to stomach one whole video. I can’t do more than halfway before I start going crazy.
“I work everyday except for two days” is the strangest way to say 5 days a week or weekdays.
🤣🤣🤣
Maybe it’s different days each week so it may not be a traditional ‘5-day workweek’.
That’s what I say but I say “I work everyday except Wednesdays and Fridays” bcuz that’s when i don’t work
“I work everyday except the days I don’t work”
He’s strange… dude
Dude this channel is so important. We have a whole generation (maybe several) that have been completely left out in the cold on financial literacy, all poised to chase an unattainable lifestyle. Your channel is going to change lives.
Caleb has already changed my life personally, in a lot of ways. I've started to really change the way I feel about food and cars for sure. I'm currently debt free which feels amazing as well.
Hopefully........so many people are WOEFULLY unaware of the situation they're in.
Being able to balance a budget takes basic math skills. There's no one to blame other than the person who doesn't add all their spending together.
The truth is it didn’t matter till recently. U could piss about for 10 years between the 50-80’s and still afford a decent house. Now if ur not on it as soon as u stop being a burden on ur parents then ur gonna struggle to afford to stay afloat
Left out, or unwilling to learn?
Thank you to the guests who humble themselves to do better and to let us REALLY learn
yes i always think this ! they suffer so we can learn from their conversations even though it’s difficult
No idea why people go on shows like this. Must be some kind of attention seeking thing. You can find all this for free online in like 10 minutes.
@@JohnSmith-op7ls no idea why people hate watch stuff like this AND leave comments. do you know financial advisors exist in real life? some people need somebody to TELL them something
@@JohnSmith-op7ls lol judging by your commenting history, you obviously like watching
@@msgoodpu55 It’s a comment section not a BJ section. If you want to get down on all fours, do it with your Grindr dates
This channel is proof we need mandatory personal finance classes in schools, especially with as bad as this generation is with delayed gratification. Too many people are digging themselves into massive holes from 18-25 that can take years to get out of.
100%
The system wants you to stay poor, so that will never happen
Banks wouldn't want that. They love getting customers for life lol
I'd love to see it. however, my rural high school had a financial mathematics class as a replacement option for algebra. it turned into an "easy way out" class for people who were on the verge of dropping out. begging the teachers to get C's and it felt like 10% of the people in those classes took home any meaningful education from it. So many people just need to feel the pain before they learn anything unfortunately.
Proper impulse control and basic deductive reasoning would be way more beneficial than trying to cram interest rate calculations down people throats that don't see any value in it IMO.
You assume kids would care enough to pay attention.
As a crusty 55 year old and parent of a 24 and 26 year old, I think your doing great a great service for the younger generation. I believe, even though your straight forward and sometimes brutal assessment, it's not nearly as critical or judgemental as someone my age giving the same advice. Being closer in age and understanding the wants, priorities and financial challenges is key. You're a great mentor. It's easy to understand why your channel is growing so fast. Congratulations!
I'm 33 and when I give financial advice I get hit with "ok boomer". People get what they deserve.
You nailed it with your comment. It just doesn't take as well when out comes from older people. Unless they are looking for a mentor.
@@d_all_in I don't get the boomer - but I get the eye rolls. I'm 27 and make 6 figures... if you won't take my advice, then whose will you? And why did you bother asking in the first place?
@@d_all_in lmfao 🤣🤣😭 ok Boomer?? damn this younger generation is out of pocket smh loool
@@d_all_in lol whyyyy do so many kids think 30 = geriatric 😂
I was this kid in my early 20s. It destroyed my finances. I am now in my mid-30s and I am so freaking aware of my finances and in a pretty good place. I'm not sure I would have listened in my 20s but channels like this are SO important because when you ARE ready to make a change, this is how.
Well said
I’m trying to get better at age 27. Thankfully landed a decent career with 401k matching, about to start the journey of learning finance and budgeting. Very daunting when you also have to deal with everything else life throws at you
@@a-lie-n Way to go with the job, Take advantage of advisors for insight if they are offered at no charge. It was a major step learning it all wit that first "career"!
@@bradfasbender1829 thanks! Yeah supposedly they have an “employee assistant program”, you can call for nearly anything
That was me as well. Would live beyond paycheck to paycheck, taking out cash advances from credit cards, paying minimums and seeing I have available balances, so I would keep charging. It was an endless cycle. I knew I was charging things on credit I couldn't afford, but it was addicting. Buy buy buy, worry about it later maybe? That was my mentality. Now mid/late 30s and I am much better. and credit score in the mid 700s
Literally has $0 and drives a bmw. America in a nutshell
The only way he has $0 is if you ignore all the money he owes. This dude owes more money than he's earned in his entire life.
@@giantpuneNot hard to do when you're 22.
@@matthewcaldwell8100yeah it is I’m 22 myself and I have 6 figures saved away investments. Self made no inheritance. Once I had a credit card for $1,500 I maxed it out then paid it off and cancelled the card because I hate the feeling of being in debt. If you’re smart you never end up in this situation. Ironically I’m a high school drop out didn’t even graduate grade 10. Also I was kicked out of my parents house when I was 17. Never had nothing handed to me unlike most my age yet I still have more money than most my age.
@@matthewcaldwell8100I didn’t owe anything at 22. And making 18 an hour he should be fine but he’s dumb.
@@step2058I made 18 when I was 17 working at Walmart, it really ain’t shit g with inflation etc
As a 23 year old I’m so glad I found your channel a few months ago because I had no one to teach me about finances. Both my my parents are in credit card debt so thank you Caleb, I appreciate you ❤
I'm in my 30s and I can tell you I am finally old enough to really see the differences between my peers that have either been taught or self-taught themselves about their personal finances. The ones that have done neither are getting wrecked/rekt, keep up the good work.
SAME
At least you can learn what not to do from your parents.
bro you’re next…. Go open a credit card and max that bih out
Fix your parents!
Watching this 1 year later and you went from 50k subscribers to 1.75m, good content. Congratulations!
I'm surprised you didn't realize that the reason for this "switch" is that whomever he was into at the bar broke his heart or it didn't work out and he's like a resolutioner on a New Years kick. I hope the best for him but once he finds someone new to latch onto, his plans will go out the window.
Yeah he seems pretty hollowed out and depressed. Emotionally and spiritually, seems pretty weak.
Needs to make a change both physically, mentally, and spiritually to pay off this debts… I know I need to also.
Sometimes the spirit can be negatively affected by everything that goes on in life, you have to be stronger and grow above that.
That is where my mind went also. I do hope he settles but I think its going to be a lot of work.
The problem is that most gay men go through multiple partners, especially when they are still young like him.
My wife and I are currently in the process of paying my truck off and starting get her student loans in order. $4,500 left on the truck and now no credit card debt. Once the truck is done we should have the student loans paid off in roughly 3 years. These videos really help keep me motivated and show that we are on the right track!
keep it up hope you get everything good coming for you
Stay strong 💪🏽
I'm down to $3,200 out of $14,000. Poor financial education, wanting to impress others, and desiring the life others had put me in a bad spot. Advice like this one is what pushed me forward and kept me accountable.
YOU GOT THIS!!!
You've got this!!!
That's awesome! You guys can do it! 🎉
Good for you! I had to pay off my credit cards three times before I finally learned. It's a good thing that I make a lot of money, but the more you make, the more you spend.
Really feel for this kid. These conversations are so important. Baby steps into figuring life out is still progress. Much love to all in this situation.
Your videos have woken me up. I need to get my shit together financially. My 2023 will be focused on being financially responsible and thriving. Thank you, Caleb.
Always remember one good year can change your life!!! I slaved for a family friends concrete business for 4 years and opened my own business this year and did alittle over 200K in business
Keep your head down and just work
Opportunity loves hard work
Reliance on a system built revolving around debt will land you in deep waters. Just a thought
Really scary to think that half the world has an IQ under 120. That is all the Trumper RepubliQans, all the people too dumb to invest in crypto like CasinoCoin etc. Yikes.
Same. We got this ❤
Good for you!!
Watch this makes me realize I had really good parents. They tought me all about finances. They always told me to not spend more then you make. Always pay your bills before they are due. I'm almost 40 and have 0 debit, own my home and car free and clear.
So glad he’s reaching out for help. All the best to you!
I was his age when I got evicted from my first apartment. I missed one check from work and couldn't pay. I'm now 27, married with a 1 year old daughter, a home owner and get to work from home with my baby and watch her grow every day. Paid off all my student loans and a 4 month emergency fund, retirement is rolling and we bought our cars in cash. It's CRAZY how much 5 years can make you into a totally different person. He can do the same. 💕
Jesus Christ man It was words of encouragement 😂.
Agreed his situation worked out but for many it will not work out ever.
Similar situation here. At 21 I was in debt for a car I was in over my head on, thousands in credit card debt ($8k+), and living paycheck to paycheck. I was making maybe $32k a year. I am now 27, married, a homeowner, I pay off all bills and debt (student loans & car payment), and I am able to save at least $3-$5k per month.
He can totally make this right - just gotta make a plan and stick to it! These last 5 years have NOT been easy - but they sure as heck have been rewarding!
@@OGN123 You and I are living proof that it's possible!! If we came on this show at 22 Caleb would have torn us up ☠️ And yet here we are now killing it! Every day, month and year is a battle but your life is too precious to waste.
@@LOLZHAHANOTFUNNY Yup! It isn't easy - but it's possible!
He's being so honest and taking accountability for his mistakes. That's such a huge step towards fixing his situation. I pray he continues to stay away from the alcohol. It seems like it is the root of most of his problems, but the future could be really bright for him if he fights through all this debt. I wish him the best.
He's probably a dumbass and blamed it on drinking
I don't see much honesty, he's scared of admitting his mistakes
Caleb is a pompous, self-righteous dickhead. I don’t find the comedy in shaming someone who is clearly drenched in shame. This won’t change him, it will only make him feel guilty and bad about himself.
No I get the feeling he still won't learn and be in worse situation soon
His future is not bright at all. He is the kind of person who will blast through any amount of money in record time. He obviously lacks any sense of self awareness.
This is a great idea for RUclips series. Financial literacy is so important and too many young people lack it.
I've always been a "numbers" guy, but didn't educate myself on and pay enough attention to my financial status/future. Im in a good place, but it took years to get there (and into my 30s).
Im taking it upon myself to help navigate my 18 year old nephews through financial planning through and after college. I never had anyone teach me these things, and i want them to be armed with that knowledge at least.
Easily the best Finance related RUclips channel I have found. I appreciate the realism rather than another person trying to push their getting rich quick strategy
Thank you 😊
I hope he’s secretly a paid shill for Panda Express
How can it be the best financial channel when most content is talking to people who don’t even know that working 40 hours a week will bring in money to PAY THEIR BILLS!!!!
@@rclose23 Because that's how low the bar is for the average person.
Really scary to think that half the world has an IQ under 120. That is all the Trumper RepubliQans, all the people too dumb to invest in crypto like CasinoCoin etc. Yikes.
It’s hard for people to make drastic changes so quickly, especially if they lack discipline and self-control in their spending habits. So, I think having a fun budget is more realistic and easier for people to manage than cutting off all fun spending. I wish him the best!
Agreed! Then it just becomes a situation where he doesn't stick to it and then he falls off completely and gives up altogether.
Alot of these dudes are on social media too much to make changes for the better
Agreed
A lot of the answers to Caleb’s ‘why’ questions are: “I’m poor so the system feeds on my debt. I see no way out so I enjoy the moment rather than plan for the future.”
Indeed
sure, its the "system" that's to blame, excuses, excuses
@@_Y.Not_exactly. The system is undeniably poor, but you can work with it if you think.
@_Y.Not_ When the one who leads you through the jungle fails to point out the quicksand that he avoided, is it the followers' fault for falling into the trap? Should the leader not offer his aid? Should he not apologize?
Wow, I would say this looks more like his mental health made it hard to deal with everything and the “just having fun” was more of a coping mechanism from not knowing how to deal with it. Even his “smile” is him just coping with what he know is effed up. I feel for the guy
Someone finally said it jeez the commenters on this channel are animals my opinion he probably has some sort of personality disorder and alot of shit that's happened and those toxic friends he talked about enabled bad behaviors he's now acknowledging of it and trying to get out of his situation and everyone is like he doesn't even know how bad it is like tf if he didn't have a single clue do you think he would even be there no he'd be partying he obviously cares
Seriously. This poor guy clearly needs to address whatever is going on upstairs. There is a lot more to this than just, "I'm bad with money".
@@mandolorian1176 it’s alcoholism I sincerely hope he accepts it as a problem because going out for any drinks is too much in that much debt.
@@josephmother2659 Oh for sure it's got a LOT to do with that. But I'd bet there is something underlying that as well. But I'm not going to armchair psychiatrist this lol. Just hope the guy can stay head above water.
Yea I can get very cynical sometimes when watching these. I sometimes need to step back and empathize with what they’re going through. I also recognize that mental health is not a 100% excuse where they can just say that’s why they do what they do and keep doing it
I don’t know how you do it Caleb, because hearing these rough financial situations over video stresses me out, and I’m in a good financial situation! I guess that’s why you have 60K subscribers tho! Keep it up man!!
i cant believe this guy got from 60k to 1.5 mil in only a year!!!!!
@@n35513.yeah fr lmaoo I was just thinking that
this dude genuinely cares and I love that about him. new subscriber!!
You went from 1,000 subs to 111k in 6 months?! That’s amazing and your content speaks for itself. These interviews (mainly your reactions 😂) are super motivating.
I watched one like second of one video and was hooked lol
486 four mo later!
494,000 subs now
TikTok had to have a part in this. His content is perfect for it. You don't need to watch an entire one of these to know what you're getting.
Almost 700K just seven months later!
I love that Caleb loves to help people so much that he sometimes can’t avoid becoming a tiny bit of a life advisor in order to supplement his financial advice. A lot of older brother energy
He’s just smart and realises financial and mental health and wellness come hand in hand
@@CaliBlazer777 i mean it is an emergency. He had a 500 credit score and is about to have thousands of dollars in debt go to collections.
Being 22 doesn’t change the urgency of his financial situation.
@@CaliBlazer777 This mindset is what is wrong with the millenial and zoomer generations
I'd love to do what he is doing. Wonder how he got started doing this.
a 500 credit score is a literal emergency. you are ruining any chance of owning a home, not paying exorbitant interest rates, getting any sort of loan, and many other things.
i love watching these because they remind me that though my financial situation isn't the best, i'm not THAT much in the hole
but in all seriousness i hope this kid gets his shit together
Your ability to simultaneously educate and roast people will never get old.
Judging by how “inconclusive” he seems in the first few minutes about his hours and income is foreshadowing the title of the video.
Commenting for the YT Algorithm Pt.60
Yeah, but he doesn't give all the options like bankruptcy... which in many of these cases is the obvious choice or option... not like we had a pandemic where people couldn't work or anything
@wayne johnson that seems like an exhausting way to live. I
@@riggingpots3453 bankruptcy should be absolutely last resort.... only to be used when youre finances have no hope at all to repair the damage, not even 1% chance of clearing the debt.
I think his anger is endearing, it shows he really cares about trying to help these people figure things out.
Really scary to think that half the world has an IQ under 120. That is all the Trumper RepubliQans, all the people too dumb to invest in crypto like CasinoCoin etc. Yikes.
He is really good at trying to dance around the big picture. There’s definitely something that he’s not sharing that caused him to be where he is now and I hope he gets the help. He needs and succeeds.
I think it was a classic case of parents being overprotective and then let you be when you move out…
He started out pretty good. That money could only come from his parents. And then went downhill pretty quickly
Drinking and favors for housing
Really scary to think that half the world has an IQ under 120. That is all the Trumper RepubliQans, all the people too dumb to invest in crypto like CasinoCoin etc. Yikes.
@@markalbarracin2011 exactly it
@@markalbarracin2011 he also just strikes me as just not even trying. Like when he said he couldn’t be an actual bartender because they only wanted women and then he was asked why he didn’t switch I get the feeling the real reason was “well it was a little too much work to bother looking for a different job”. Don’t know if it’s actually how it is, but that’s the vibe I’m getting
Edit: the bank account waiting a week to actually add to the balance and it’s the same thing. “Why haven’t you switched banks?”
“Well I’ve been thinking about to idk it might happen”. Like he should care more if it’s actually a problem but he seems just to be like oh well, nothing I can do (without putting in minimum effort)
I am fortunate to have spent the last few years of my 20's regaining control of my finances and have found myself debt free and a person who YNAB budgets religiously in my 30's. I cannot imagine where I would be if I had not done that and reevaluated my behavior. This channel is one of the best financial channels on RUclips, if not the best. It will save your financial life if you listen to what is being said here. Anyone can take this advice and apply it to their own financial problems. Caleb is no bullshit and tough love. And it's exactly what people need to hear. Glad this channel is blowing up!
That “thanks for doing this” was so sweet. He’ll figure it out. He clearly cares about his life and future.
He couldn't even lie on the spot and agree to stop stupidly spending. This idiot is going to be on the streets in 5 years.
lol I am unconvinced of that.
I think he's going to do nothing and end up in an even worse situation tbh.
He’s got this !
LOL talk is cheap. Let the results speak for themselves down the line.
“I know everyone tells you not to pay your full monthly credit card amount” made me laugh at that statement and Caleb’s face in response to it 😂
My dad didn't teach me jack about investing, but he repeatedly told me as a kid about the stupidity of holding credit card debt. Thankfully this was one of the things I listened to him on.
I dieddddd 😭🤣🤣🤣🤣
Technically he’s right. My score is 815 with all cards paid, but if I let one keep like $20 on it my score goes to 835. So I try to be sure to keep a very small amount on just one card, small amount bein literally like $20
@@donkontilt1 Not an expert, but pretty sure theres no functional difference between 815 and 835.
@@VirgilZandig none at all, point is carrying that small balance did in fact improve score
Retirement for some people becomes their bondage in poverty because they failed to invest with the little they have on their active years of working, this is an error we need to start working on now, I’ll advise that while you still can work and earn also take some money aside and invest in your future after retirement so this classification won’t have to be yours
You are right.!
That is why I had to start forex trading 2months ago and I now am making benefits from it..
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻
Naturally, there's a lot of math involved in forex trading. but this is often presented in forms of daunting technical charts, indicators, patterns.
I’ve grown so much in forex through the mentoring of Shanita Creswell
Tough situation, but he is young and it seems like he is gaining an awareness of his situation. Go after it man!
The ten seconds starting at 42:25 are SUPREMELY important. Early adult years are HUGE for laying a wealth-building foundation. The financial dumpster fires we all see on the Financial Audit series are not just bad right now in the moment, but they are exponentially worse when you consider the opportunity costs of several lost years of compounding growth. Never lose sight of that!
The sad thing is that there are thousands of young (and older) people like this young man everywhere in similar situations. Speaking from my own experience, budgeting won’t work without self discipline.
My parents weren’t rich but they always said save money for emergencies, don’t spend too much on luxuries and don’t go into debt. The bare basics will take you farther than most.
Hopefully this was a wake up call for him.
So glad this channel was recommended to me. I used to do this for a living and people didnt believe the situations that came across my desk. Putting this on the platform is genius and emphasizes just how much people need financial education. Caleb you have a new sub!
I discovered his channel through Graham Stephan.
I’ve had this thought for a long time But knowing personal finance is seemingly overlooked in high schools across America, I want to personally teach my children personal finance and how to be financially literate.
Every time Caleb goes down 5 minute rabbit hole to find out why he’s not paying something just for him to answer with “I didnt have any money” I die 💀💀💀💀
😭😭
But GameStop and drinking!!! What was he supposed to do?
It’s embarrassing, i can’t blame the guy for dodging and not wanting to say it out loud. 😊
Really scary to think that half the world has an IQ under 120. That is all the Trumper RepubliQans, all the people too dumb to invest in crypto like CasinoCoin etc. Yikes.
I just have to say - to whoever does it - great editing in these. The close shots of Caleb sighing and muttering crack me up every time.
dude fr lmao shits hilarious
I used to work at a bank and do financial coaching all the time. Anyone who thinks this is just a young person problem you are sadly mistaken. Things don't just magically get better when you get older you have to work hard and have a BUDGET.
Please go make a video about this issue
He isnt taking this too seriously.
If i could be 22 again, i would understand how critical it is to start life on a good leg. Its such a help and makes life easier in your 30s.
Yup he's just smiling and laughing at everything
I get that impression from that never-ending head wagging
i wont even sleep if i was in his situation, let alone smile like a dumbass😂😂😂, this mf is litteraly spending 11% of his income for sim and internet plan😂 meanwhile i got the most expensive ones (unilimited everything with no speed limits on sim card and wired for home) for 2.5% of my income😂 and im thinking im spending a little too much😂
dude I was in WAY worse shape at 22. this guy can turn the ship around if he does what he has to.
Ive never seen this channel before but 15 minutes in and the energy in the room is quite interesting to say the least
Every 18 year old should watch this channel. I’m super lucky that my parents taught me how to use money. Love your advice to people that are struggling
An average 18 yr old wouldn't understand these videos. I'm 34 and I barely do. Luckily I'm smart enough to have a financial advisor to do all this shit for me. That's really what an 18 yr old needs- a financial advisor.
I wish i did
Honestly, not the absolute worst position since he caught it early. If this dude focuses, he could be debt free and a CNA within 2 years easily. Wishing him luck
And make less than working at Amazon. Silly goal.
@@OtisFlint I make like $10 more than minimum wage doing agency work lol
The first thing he needs to do is lose that douchebag playboy earring. That screams “Look at me - I think I’m edgy!”
Honestly I was him when I was 22. Now I’m 26. But I didn’t wake up to this till 24 so good for this guy to want to be better.
My parents never talked to me about finances, so I never took it super serious until I wanted to get my shot together
Sad part, this kid is not alone. Lots of people are just like him. Such a shame
the average american has 75,000$ in debt.
I know ALOT young men in a situation like this. It’s scary and sad at the same time.
@@angelgjr1999 take that flag out of your name bot boy
@@JORLANDO93 Why? It’s a beautiful flag.
@@angelgjr1999 proxy war between governments for control over natural resources. Destroying human lives in the process. Shouldn’t support governments that ruin innocent lives for no reason.
I just want to say that there is hope. My financials looked very much like this 3 years ago (mostly from a spending problem and binge eating disorder/eating out) and today I only have one credit card account left to pay off at 6,000 dollars. I will be debt free this year! It took me stopping all my dumb spending, working 60 hours a week, and budgeting every month. Your advice is spot on and I can’t wait to be debt free so I can start saving money like no one’s business! 💙
Good job 🌻 that's pretty inspiring 💪🧡
It’s scary to think how many young people that are in this situation and most people have no idea…
You should have at least 1 Million subs by end of 2023. People need to realize how screwed you can be if you’re irresponsible with money. And these audits/stories will show what some people need to do. People that are bad with money, you’re not alone but you do need to work on being more responsible. Good stuff Caleb!
He seems very lost. Not just financially, but spiritually...The disarray with financing is tied to relationships, and I would be curious to know what his home life is like, because he is couching surfing to get by. He needs a hug and then a spreadsheet to track his finances. Sharpen that pencil!
What do you mean by lost spiritually?
I totally got this vibe from him as well, I have struggled with mental illness and addiction myself and my unhealthy coping mechanism was to avoid, ignore, and isolate. His complete lack of understanding and even caring towards his finances is, I fear, tied to something bigger in his life, and his finances are simply a result of that. At the same time, I can only speak for myself and of my own experience, and I hope and pray that Josh truly is doing better with alcohol and is happy ! 🙏🙌❤️
He’s definitely suffering mentally.
He needs Christ ✝️ his demeanor says he’s a not so straight and narrow fella if you catch my drift 😇😇 jesus can still save him!
I don’t think he cares anymore I just think he is done just based on his attitude I mean 25 percent interest rate that’s ridiculous
Actually the $150 fun budget kinda makes sense. I worked insanely hard in my late teens early 20s to try and be able to buy a house, but occasionally I would buy something really stupid just to keep myself motivated. Notably some expensive sunglasses and a designer wallet. It sounds ridiculous, but I was bringing home almost 5k a month sometimes more and spending less than $1,000 of it. Eating maybe once or twice a day sleeping maybe 6 hours a night. I don't think I could have done it without buying nice things to remind me of what my life could be if I stay at it. I would totally recommend it but only if you can afford it and if you have absolutely no joys in your life.
What's the point of grinding if you never see some of the benefits. Going cold turkey on everything makes me just spend more later after a long nothing.....the occasional gift to yourself Is clutch.
But using the $150 a month is way more valuable then a little bit of fun on something that doesn’t last. Dropping it down to $20-30 is more reasonable.
Were you able to buy a house with this mindset?? I only ask because I’m 20 right now and doing the exact same thing for the exact reason. I just want it all to work out.
@@angelinvargas7230 it wasn't just that. Realistically it was the mindset that if I wasn't working I was losing money. I just couldn't keep that mindset up without giving myself little splurges here and there to keep me motivated and feel like it was actually worth it. I set myself a huge goal, gotta have some stepping stones in the middle or you'll drown. You decide what those can be for yourself just be realistic.
I’m here for the grind but I’d recommend focusing on 2000 cals a day and 8 hours of sleep. That is one area that will destroy you and your drive if you don’t keep up with it
Tbh I'm glad I found your channel now rather than later. 27 made some horrible financial decisions early in life and starting to make major changes to fix it. Seeing these videos helps me with figuring out a direction and how to fix it
You’ve got this!!
@@CalebHammer oh shit you actually replied. Appreciate that. I'm lucky in that I have no CC debt, no student loans but old medical bills and my first mistake of a car loan that went upside down that I'm working on. So realistically these videos have given me so many tools to look towards budgeting and payment strategies etc. Keep up the fantastic work and your method of ripping someone down while simultaneously building them up is amazing especially for people watching that need to hear it.
I want to meet with you so bad but I'm embarrassed by the potential of anyone I know seeing the video lol. Went through a very bad financial time in like 2015 and have been trying to rebuild ever since. Love the content, man!
Come on the show! We can edit out anything that needs to be
Oh man my heart breaks for him
I hope he’s doing better and getting his shit together
The thank you at the end really says so much about him
This probably the most entertaining audit I’ve seen so far. I feel his pain and understand why he could only laugh at his situation. I do hope he’s able to turn this around, thank goodness he’s also still 22 and still able to change.
I think he needs to be in a lot more pain bc he definitely isn’t getting the gravity of how royally f’d he is. Lates stay on your credit for SEVEN years and collections will keep selling the accounts so the clocks starts all over again. I have a credit score hovering at 800 and I have both on my credit still!!
@@inthevault9603 if you have 800 then it doesn’t really matter?
I’ve got 3 lates (all in 2019) on my account, but those happened on a $5k student loan I fully paid off 2-3 years ago. I’m only 24 and they happened only because I was still figuring shit out & transitioning between dropping out of college and getting a job. So I think they should be off by around 2026.
I hope he takes your advice! I feel like he was so glazed over and overwhelmed the whole time. I don’t think he realized how bad it was. I hope he understands now.
My jaw dropped when he said his credit score went from a 780 to a 500. Boy, how you gonna mess up this hard.
I wish I could give this kid a hug! I hope he drops Chime and takes your advice to heart. I’m 32 and was financially lost at his age as well but reality has to kick him down to want to really change.
I wanna give u a hug bruh 😫
Is there something wrong with chime? I have the credit builder card + 2% apy savings account, but I’ve heard many things.
Manda joy is sexy as hell
@@300zxss what year is your Z? i got a 94 t-top na red one
I was right there with ya, buddy! (also in ATX) I didn't realize I'd developed an alcohol addiction, which affected my life hugely. I was out drinking almost every night of the week because I was so sad and lonely, I just didn't want to be home alone. It's taken me years to climb my way out of that mess, psychologically and financially. Finally got my credit score back to a good number and am stable. Alcohol free for 2 years now. Good luck, man. I hope you can get some consistent support
We gotta check back in and get an update on this gentleman
It would be great to see a follow up after some time. Did he do your plan? What was hard? What mistakes happened? Etc.
So, I consume this series mostly when I drive back from work. It's enjoyable to listen to and perform the mental math of what's best to do for the guy on the other end. As of late I've been watching more and more on my PC and I have to say the editing is great. It's non-intrusive but makes a big impact. I don't know if Caleb hired someone, but it's working well.
This video reminds me of the very recent case I've had with one of my 3 best friends.
He was(is).... a very peculiar case. Doesn't know how to manage his money, wants constant immediate gratifications(going to tematic parks, inviting others to restaurants, buying useless shit, making himself look good in front of people...). And every time he can't get something with his immediate posibilities at reach, he always looks for a way to make it happen.
Back in december 2022, we had a talk as a group and decided to organize a travel to Japan(3 of us, including him) for the next year. But that needed a shit ton of planning and making things right and knowing what we'd do and what we could do in advance.
In other words, we needed realistic numbers.
And was then when we started discovering all the shit that *one* friend had hidden under the rug along the other shit that was going on on plain view.
It was incredible.
He had 6 holes open(debts): to his late landlord(hadn't paid rent in 5 months), to cetelem for an iphone, to his credit card, to his bank for a small loan he had, to the gas company for some unpaid bills, and to an acquaintance of his.
It was 10 of December and he was already on 0€ in his account, with 5000€ in debt.
[Note that this is Spain, and we get paid monthly. Plus the wages/cost of living are way lower, so a debt of 5000€ is huge for someone without firm ground to stand on.]
But in that awful situation, he decided to go to a damn travel agency and finance a damn weekend to Disney Land Paris for him and his 3 cousins, adding the 7th(and most idiotic) hole into that whole mess. (An extra 1200€ that he'd start paying that after 3 months, so who cared, right?)
By the end of december, his old landlord was giving him an ultimatum with risk of calling the authorities, and his whole life was about to go down the drain and probably never be able to recover.
So I went in, had a long talk with the other friend of ours, went where my idiot friend was, injected 2000€ of my own into his account to pay the most urgent stuff and to give him breathing space, reorganized his whole life, controled his finances up to every single € from then on, injected more money whenever was necessary and gave him what was probably the most important resource he'd had in the last decade, which was someone with authority over him capable of saying *No* every time he wanted to throw money into useless shit.
As a result, we had a great 3 weeks in Japan in August 2023, and he has closed every single one of those 7 holes, except for what he ows me, which he'll finish paying on April 2025.
I don't have the authority or the energy to act as a policeman anymore, so I really hope he turns his life around once he finally has no debts left.
These videos make me really grateful for having parents who drilled financial responsibility into me.
I just want to also say that the "Don't pay off the full balance of the credit card" advice was also given to me by my own mother who worked at several banks. So this bad advice has been around and propagated for a looooong time.
What’s the actual background for this? It increases your credit score more than paying off the cards fully?
@@jamo3976 People seem to be mistaken that it does but that is not how your credit score is calculated.
You don’t wanna pay it off all at once not don’t pay it off
@@riisky2411 that's not how credit scores work. You can pay it all off at once and youll be fine.
@@vanguard6937 that’s exactly how they work. If you make payments on time it’s better for your score then paying it all of at once. I’m in my 30’s believe me I know
Great channel. Financial responsibility needs to be taught more, and your channel shines the brightest light on irresponsible spending in a great way. I went from a credit score in the high 700s to high 500s due to drug addiction and poor life choices. Got myself back on track, cleaned up, paid off all debt, score is almost back to 700. Got an almost new really nice car, 3 new credit cards I use responsibly and keep at less than 20% utilization, and the score keeps going up and up. Finally have an emergency fund, money in savings, things I didn’t have before. Thankfully I’ve had a great job for the last 17 years and I didn’t lose that during my addiction and very irresponsible years.
I just wanted to say, a few days ago I watched my first video on your channel. Before finishing the video I stopped everything I was doing. I paused the video, I created a Roth IRA and started to contribute money to it. I have since set up daily contributions and I am already making moves to dump as much money as I can in there to secure my and my families future. my only regret is that I waited so long to do it. I am currently 28 years old, so I lost out on several years of compounding interest but its better late than never. Thank you for the push!
i would just like to say that i’ve learned far more about finance from a few of your videos than i ever have from 11 years of school and i appreciate it
came here for a bump before heading to walmart. GV brand here we come!
It breaks my heart to hear the way he talks about his addiction. He seems to have a severe misunderstanding about it. I'm glad Caleb pushed a little on that, just going to a bar to see someone isn't what makes you an addict. I feel so sad that he doesn't get it. I see hope for him, he seems to want to take accountability, that's a great first step. But I can't say I'm not concerned about how he doesn't understand it or believes that he can just stop drinking and be done forever and just instantly be better with money with no problems. He seems so sweet but he needs to understand his addiction and the seriousness of his situation before he can get better.
yep that's the immaturity of a 22 year old, it's unfortunate. (im only 21 lmao)
I was that way with heroin in my 20s
These are great and extremely valuable as a young bachelor with no family.
In the future, I'd love to see a follow-up up with some of your guests to see where they're at.
Thanks for the content!
Crazy subscriber growth, congrats! I just discovered your channel and that growth is mind blowing
Your videos are so addicting to watch, I’man Australian 25 year old and it baffles me to hear how other people spend and manage their money
Caleb, you can make great money as a nurse these days. I am a NICU RN and make great base pay for my scheduled shifts, but the staffing is in such a place that the money being offered to pick up extra shifts is astronomical. When I pick up extra hours it’s minimum $85/hour. Usually $100/hour. And that’s in Iowa which is one of the worst paying states for nursing. Many young people on my unit are leaving to do travel nursing for a year and pay of every lick of debt they have, including mortgages. There are contracts out there by the dozens taking home 30,000 for a 16 week commitment. Yes you have to put in the time getting licensed but the opportunities are endless👍 My husband and I really enjoy watching your channel! Thank you!
He seems like he has a gentle personality that would be a good fit, but I don't see him having the work ethic for school.
Vaccine is a blocker. Not getting that
I would love to know what happens with these people 6 months or 1 year after this conversation. Did they manage to turn their lives around? Did they go back to their ways? They never changed in the first place? How is their financial situation now?
yeah follow ups would be cool
This account is going to blow up soon, very entertaining to see these kinds of people and their lifestyles.
Your score at the end is on point. He is still playing the game: I’ll get around to it one day.
His friends and family need to show him tough love and make him pay for rent and monthly expenses. enabling this kind of behavior is so sad and is limiting his potential and crushing him with bad debt.
This guy sounds like he can make it, because he sounds like he’s genuinely trying. He sounds like he’s dancing around some severe stuff but he learned young, but frankly for the moment he sounds like he’ll be ok
You NEED to make a series where you interview the PARENTS of the people you have on. As crazy as these videos are i bet it would be even more interesting to see why they got where they did to begin with.
Fantastic idea.
THAT IS A GREAT IDEA
we need this! great idea.
Im gonna go out on a limb and say that a lot of these guests don’t have fathers in their lives.
Exactly. Most of these people all have suspect parents who never prepared them for life or coddle them so they never have to learn.
He is using a ton of what appear to be shame management techniques. I really worry about where he went from this audit because this does not strike me as someone who is simply off having fun. He strikes me as someone who is hiding from himself, and this would be a hard look in the mirror. Hope he's okay and knows it's okay to start small from wherever he is right now.
Right? It makes sense that tough love is the best love but this guy is shaming him and that could negatively impact people too.
@@mattharpell91Charmin ultra soft is an epic metaphor
@@mattharpell91stop blanket labeling ENTIRE generations...its idiotic. And also gen z have shown much more financial responsibility than previous. Facts don't care about your feelings.
Seems like a sweet kid - I wish him the best
Poor kiddo. He seems so dang young to be in this kind of financial and addictive mess. Praying that he is healed
Praying is useless
Meh the younger you are the more time you have to correct if he was 54 and here it might be different
@Thomas B dancing also brings rain
Praying is blind comfort.
It doesn’t matter if you pray to God, Jesus, Mary, your dead uncle…or a rock.
The prayer never leaves your head.
They go nowhere.
The coming true part…has no correlation to prayer, other than random chance would have.
No prayer has ever stopped bullets or bombs.
Yeah..But he got by on his older "male friends" who "enjoyed his company" and didn't want him to leave their place.
This is great to share. These people are taking a risk for putting their situation out there in RUclips for financial advice, so I thank them for giving a story that many people probably relate to. Overall the finial advice you provide is essential especially for young adults. We have an epidemic of debt and this shows us how it is created.
How am I just now finding this channel?! Caleb, I love your content. Keep it up, you may seem harsh to some, but you are HELPING your guests! They need the tough love. Keep up the great work.
That BMW is going to depreciate FAST. He should sell it and buy a HONDA! 😎
If you can't afford a new BMW you defiantly can't afford a used BMW. I wouldn't consider a used BMW/Mercedes/Audi/Porsche ever. Money pits. Edit - I drive a Honda FIT, great car, averages 39.8 mgg.
HONDA BOYS
Funny seeing y'all here.
then get a new BMW before it depreciates
ima Honda sales representative & I approve this statement
I would recommend to him to get a CDL Class A and go on the road. Still young with no kids, no current permanent residence so no rent, he could get licensed and get in the truck in a month and start stacking up money, catch up on the debt, live in the truck so no rent, and that lifestyle would help him to keep out of the bars and party scene. He is already doing a driving job and while they are radically different he obviously isn't adverse to long drives.
this
No, he loves alcohol too much! 🍺
While this is definitely the best option for him, it seems the social aspect of life holds too much weight which is why he seems hesitant with the suggested cutbacks.
As a 44 year old truck driver now driving local for last 7 years from otr for 16 or so iv lived in my truck for years at a time off and on so yea you save money on rent you spend that living out of the truck washing cloths every meal is a truck stop or dinner somewhere yes you can prepare meals in the truck but often there’s little space for food storage so you eat out more then you eat in then you have the high phone bill for your entertainment being your phone is your life line to the world you know so you pay a high bill for the extra data and still use more then you are allotted so that cost more then there’s showers while if you use your loyalty card at fill ups you get free showers at pretty much all the big truck stops but if you don’t it’s 16-20 a shower athe list goes on and on now your biggest issue is your paid by the mile usual for a new driver fresh out of school it’s 39 cents a mile it was 20 cents a mile when I first started and your mileage each week is based of what that send you for loads and the miles it has on it if you take every load sent and they like you and you keep the door closed and the wheels turning you can do 3200 miles a week maybe little more if you try so all said and done your not really making a lot of money for what your paying to survive out on the road but it can be done if your hard enuf to work through the beginning stage and do the work it’s not as glorious as you think living in a truck
@@tedhart4468 ur right I've been OTR now just over 10 years and O/O for 6 of those and as long as you can adapt to the lifestyle, control what you eat at the truck stops, and obvs not be concerned with having to shower every day lol then he could get things back in order in his life. As you are aware it's a lifestyle change just as much if not more than just a job change, tough but it can right the ship of life over time if he's willing to make the sacrifice
I’d love to have a “a year after” series to see how this dude (and others Caleb’s helping) is doing.
This is a prime example why financial education and adult living should be imperative in incorporating in a high school education.
i grew up in san antonio and my peers financial decisicons never fail to dissapoint me, growing up unstable has made me desperately want financial literacy and stability. you really are doing the lords work
As a 21 year old college student I love this channel because it helps me learn how to manage my finances better.
Just discovered your content from shorts, absolutely love this channel..seeing these people painfully reminds me of my own terrible financial choices and lack of accountability/direction in my early 20s, thank God I crawled my way out of it and started making things better, it kills me to see them not realizing how serious their situation is..
This makes me so depressed. I hurt for him. Speaking from experience addiction is awful, and I pray his life change sticks.
Not an ounce of sympathy from me. He was fully aware of what he was doing
@@vernanderson7739 yeah that's what addiction is mate
The editing is awesome lol. Subtle, yet paints such a great picture
I hate this new era of always 'having fun'. It's creating this expectation you should get everything you want with no work, and regardless of consequences and ownership of your actions. Life is much more than that, and fun doesn't equate to spending money. There is SO much you can do that is fun, that doesn't cost a dime. Thank you for what you do! The more financial education is out there, the better! I hope this kid genuinely makes better choices moving forward.
The 2013 BMW payments are just one factor. As someone who has owned 2 BMW's, the maintence/ repair fees are way higher on this make than any other luxury car. Brutal and inevitable on a 10 year old model.
I have a 2008 BMW 335i. I definitely know what you are talking about. I only have it as a luxury car because I can afford it lmao 🤣 I would never wish a 22 year old like him to own a BMW, especially if you are bad with money.
My old coworker has a 2013 330i and even simple mechanical work is nearly impossible for most people to do by themselves. I can completely rebuild most trucks, I've done all mechanical work on my Corvette by myself, but changing the starter on a 2013 330i is one of the hardest car things I've ever accomplished. It took me an entire day and I nearly had a mental breakdown. I can't even imagine what BMW charges to work on those things. They're cool.....but dude the average person, especially if they're already in a financial bind, cannot handle the mechanical needs of a BMW.
Especially the active hybrid f10. Thing is a ticking time bomb in terms of expensive repairs.
There’s a reason BMW owners unload them the minute they fall off of the factory warranty. My buddy bought a 5 series for a song and very quickly learned what a money pit they become. His words “I absolutely loved it - when it wasn’t in the shop.” Every repair he had to put into it was running into the $800 - $1000 price range. After 2 years, he was over the BMW “driving experience”.
Just graduated, living in San Marcos, this is definitely eye opening