$43,000 Food Truck Debt With No Revenue | Financial Audit

[@CalebHammer]

Debt debt debt with more debt is no fun, but one person winning 1k when we hit 50k subs is very fun 🎉

[@Jayjay-311]

Pick me

[@jamming8148]

Subscribed!

[@thunderb00m]

is the millennial money episode link in the description?

[@miss1sadeyes]

Subscribed

[@Machoke.]

Just started binge watching these cause I came across your channel recently. This one’s perfect considering I would want to get into the food truck business. Will be a good lesson on what I should not do I’m sure 😆

[@NicksDynasty]

Yo! Like I said this was fun! Thanks for having me on. I always knew my system was complicated but for most of the time I could keep it in order. You definitely audited my accounts during a wild time Will definitely slow down my traveling after ski season and pay off the business loan above minimum payments. It's coming! (I’ve already consolidated some accounts and solds a few shares)

[@CalebHammer]

I love having you on the show!!

[@NicksDynasty]

@@CalebHammer 👍🏿👍🏿👍🏿👌🏿 it's funny I'm flying through the AUS airport today but I keep on going back to Michigan

[@torrieb3860]

Hey Nick, only one critique…open the food truck on the weekends if at all possible bro. Just trust me😉

[@CalebHammer]

@@NicksDynasty next time your in town, I wanna taste this breakfast food 😂

[@dani2g]

Just checked out your channel! I have my VI for 🔺this week! Interesting that your pay is still so low after year 3 😭 I wonder what it would be prior to deductions. Also if you can park your food truck at Mizzou or any other major university it will do numbers during the week! I went to UW Madison and UNLV for undergrad and the lines were LONG even on mondays for the food trucks.

[@richthepup]

Dreams often become nightmares if you’re wearing your dreamers glasses when operating. Hope his business explodes, love the enthusiasm

[@GrantValdes]

Phrasing! Food trucks actually explode sometimes - propane

[@richthepup]

@@GrantValdes *remembers bob’s burgers episode* 😧

[@NicksDynasty]

Thank you!!! I'm looking forward to making it a big sucesss

[@Frissdas1207]

as the saying goes, $5,000 is little too have and allot to owe.

[@rerungirl]

I appreciate that he’s trying to build hype for his projects, but I worry that he’s spreading himself thin. Went to follow his KZbin!

[@NicksDynasty]

I hope you will enjoy my channel

[@uberhaxorsupporter]

This guy is dope

[@NicksDynasty]

Thank you but no you are the dope one!

[@jkay07]

He's doing too much but I guess that's his style. Simplicity is better for execution.

[@NicksDynasty]

Yeah... I like to do a lot of thing. Most of my money goes to only a few things though

[@Nobody00061]

Caleb, just a recommendation. Maybe you should edit the videos to make them shorter, 50min videos are hard to digest. Specially if the interviewee is slow paced.

[@PoliSciGuy]

What does low paced mean

[@Nobody00061]

@@PoliSciGuy I meant Slow.

[@shelbythompsoon]

A trend forecaster, CocoMoco forecasted long form content is in fact coming back on KZbin - the longer the video … more monetization money from the tube. For me this is a great refocusing length video for me while I start my office work.

[@OlcurtyB]

I watch them at 2x.... no such thing as slow paced lol

[@Nobody00061]

@@shelbythompsoon I don't think so, it is hard to keep focus for this long. People usually tend to get distracted or lose interest after 15 to 20min that's why most youtubers do short videos. Now, if this was a podcast then it would make sense but this not a format and they tend to lose time or say irrelevant things.

[@carmenreggediesch4556]

I was today years old when I learned that 'net worth' is not how much your worth on the Internet 😐

[@snipz7929]

For those who are curious. He opened up his food truck last month

[@snipz7929]

@@dingbat4892 Clutch

[@Gerardoe52]

And how’s it going??

[@thegreatpiginthesky3904]

​@Gerry E he actually had his first profitable month

[@snipz7929]

@darkfarfetch3664 awe man that sucks!

[@thegreatpiginthesky3904]

@@darkfarfetch3664 where did you get this info? Literally not true lol

[@anthonycuevas252]

Caleb I laughed at your reaction when you learned Nicholas came into town just to appear on your show for your non official advice. Is that so hard to believe? I love watching these episodes and I would rather fly to Austin to tape with you rather than see a concert or a sports game.

[@laurenneblett986]

The show has come so far. Now everyone is required to travel to Austin 😅

[@EmersynRoses]

Do NOT use door dash or Uber eats. Their fees are out of control and will actually lose you money especially when you’re just starting out and only opening two days a week. Sincerely a fellow food truck owner

[@hanspz5505]

If he does it more and gets into it he should, good exposure for a newbie

[@EmersynRoses]

@@hanspz5505 he will literally lose money on those platforms which will screw him over more than the exposure will help. Been in the food truck business for 6 years. He needs to find good spots he goes to religiously and get into food truck festivals and such, that’s where the good exposure is where he’ll actually earn a profit and keep his dreams alive

[@hanspz5505]

@@EmersynRoses true. But don’t a lot of businesses use Uber eats? It can’t be that bad, what makes it hard for him/you?

[@EmersynRoses]

@@hanspz5505 well they charge $500 to start the process with them and then they charge anywhere from 30-35% per sale to use their platform. When the average profit margin is 3-5% yearly for restaurants/food trucks giving up 30-35% of sales isn’t feasible. Then you have to add that the majority of food trucks move around which makes it a hassle to update your location daily in Ubers platform and then hope drivers can find you in a timely manner. For well established restaurants/trucks that are stationary it might not be bad but for a brand new guy that’s only doing it part time he is setting himself up for failure.

[@hanspz5505]

@@EmersynRoses $500?! Jesus that’s cheeky wtf… they need you to keep going lmao what a joke. Thank you for the insight 😊

[@nineteenfortyeight6762]

A respectable, kind, intelligent gentleman. I wish him luck.

[@NicksDynasty]

Thank you so much! Life is good and I have so much more to achieve

[@Theasiakay2001]

I love how much you’ve grown in your communication with the interviews! Starting out it seemed like you were shocked with people’s situations (as a finance major I was too) and sometimes expressed it a little too verbally, but you listened to feedback and have really improved on showing compassion with your advice. Great job!

[@CalebHammer]

Thanks 😊

[@philip9823]

Hahaha, seeing this comment after seeing his more recent material in mid-2024! Caleb is still expressively shocked.

[@mattcusto]

A common theme with a lot of your guests is just the lack of fear of being in that much debt, like since they see the monthly payment and they can afford that they think it’s all good. Hopefully he has some sort of life insurance protection so the debt doesn’t get passed off to the mom

[@awdrifter3394]

He's taking a good risk, it's not like he put everything in GME, but he needs to partner up with a person who can work the rest of the 5 days of the week.

[@adrianmechelle3784]

Once I got a family, and started getting older (im 31) I became more afraid. I don’t want to be retirement age and not able to support myself.

[@vatsal2189]

Also not having a budget

[@GrantValdes]

@@awdrifter3394 Is it taking a true risk if he's set up for failure by keeping the truck closed 5 days a week?

[@awdrifter3394]

@@GrantValdes yea, he needs to improve his business plan for sure. Only opening for 2 days per week is not good.

[@AlexaVonSuess]

As a small business owner, I would LOVE to see a series like this focused on small businesses. That would be amazing.

[@ByMiggz]

Dude! I get so excited waiting for one of these to drop. Way better than Dave Ramsey at the moment for me! Keep these coming Caleb, you are killing it.

[@capitalismftw4757]

I think Dave's advice works better. The idea of attacking finances emotionally is more effective than mathematically.

[@capitalismftw4757]

Though alot of Caleb's advice is good.

[@CalebHammer]

Thank you 😊

[@quixomega]

@@capitalismftw4757 Dave's advice is one-size fits all, and it's easy to follow, but it's not optimal for everyone. People approach money differently. Maybe Dave's advice is best for you, it's not bad advice.

[@claytonmarkin7863]

@@quixomega I hear that all the time, but nobody thinks they are the person it works for. People will say "Dave's plan is good for most everyone, but I'm the unique case."

[@Raidersmb]

This show has had such a positive impact on my life. Basic insights I have gained: 1) Stop all stupid spending. Dinners, fast food, anything feels great in the moment. It is always much sadder upon reflection. It is ever much more sad when you add everything up. 2) Debt goes away faster the more money you make. So make more money fast. 3) The feeling of being out of debt and escaping that burden is much better feeling then you get from unnecessary spending 4) Don’t worry about retirement plans when you owe some stupid ass debt :) Thanks Caleb!

[@Moon_Presence]

"Stop all stupid spending" Wouldn't donating money to a KZbinr be classified as stupid spending? 🤦🤦🤦🤦🤦

[@General-Marvin69]

Talking about stupid spending but sends a KZbinr $50. Lmfao!

[@mchaudhry15]

Overall he seems very knowledgeable. What scares me is carefree attitude towards debt. We all say we can pay it, but no one has a crystal ball on what the future holds.

[@NicksDynasty]

I know what you mean. At this time since I am healthy, I am able to pay, and also I have assets I could use if needed. But tomorrow is not promised

[@Liimpy]

My guy needs to get focused.. also, he's not a business owner, he's a flight attendant making payments on a food truck thats losing value..

[@NicksDynasty]

I am a FA paying for a food truck. Once it's open I will be a FA who's paying for a food truck that is bringing in revenue

[@Liimpy]

@@NicksDynasty you cant be both, and you're not ready to be a business owner, you had 100 excuses why it's not already operating.. you've got it easy now and being a business owner is hard af.. i hope you prove me wrong when you return in a year or so..

[@NicksDynasty]

@@Liimpy I am looking forward to proving you wrong, stay tuned. We really didn't get into the details of the business I am currently working on the things I need to do to open

[@Liimpy]

@@NicksDynasty I wish you nothing but luck man.. as a business owner myself i know how hard it is..

[@NicksDynasty]

@@Liimpy Thank you, my good person. I wish you luck too!!! Continue to grind!

[@FezzyBoi]

I agree with Caleb, he’s setting up the business to be a liability rather than an asset. Diving in full time would make the most sense

[@NicksDynasty]

I can't dive full-time into it just yet. It is a side hustle. I hope to be open soon to bring in revenue

[@suad01]

Did you consider something like Door dash?

[@NicksDynasty]

@@suad01 I used to deliver for door dash. Now people can order my food on DoorDash which is amazing to me. It's going to be so much fun running the truck

[@kevinfloyd808]

Wh, would you suggest quitting a 30 to soon 50 dollar an hour job to do a side hustle full time? If main job was 10 bucks an hour or if side hustle gets to a point where it's steadily tripling main job for a year minimum...maybe. but for now I'd agree with his plan except maybe try to squeeze 3 days in, hire somone to open a few days, or rent truck to someone else to open some of the days he cant.

[@NicksDynasty]

@@kevinfloyd808 yeah definitely am not quitting my main job anytime soon. We just got a raise too My next step is to be able to hire an employee and expand hours for sure

[@CH-bi8tl]

He needs to stop and take a breath. So much debt. Food truck in the winter. A lot of drive-ins up north close down for the winter months because it isn't profitable. He needs to only do a Roth IRA and focus getting the debt gone and helping his elderly mother who is paying for his education. Food truck in winter months and not open on weekends.... buddy....

[@NicksDynasty]

We didn't even talk about my business plan. My food truck should still have good revenue in the winter

[@CH-bi8tl]

Well hopefully you will have very good news next time you check in with Caleb. We're all rooting for you, but we only get a snippet of information during these.

[@NicksDynasty]

@@CH-bi8tl THank you so much I am excited too!!! Hope we can share the good new next time!!

[@dadggsCA]

@@NicksDynasty how’s it going sir

[@NicksDynasty]

@@dadggsCA I'm one centimeter away from opening. Ran into some repairs I had to do before I opened and some frozen water tank because of the weather but 2023 I'll hit the ground running

[@LifeBindeR222]

So many accounts and money shifted around them, my head is spinning 😵‍💫

[@CalebHammer]

Same!

[@NicksDynasty]

It keeps me on my toes and it's fun. Thanks for watching

[@gabriellakendralla319]

I love your channel! I’ve been watching Dave Ramsey for a long time but I’ve never liked his “one size fits all” when it comes to managing money so you are the perfect blend! Thank you so much for all of your amazing content :) I would love to see some videos on getting started with investing!

[@CalebHammer]

Thank you so much!!! That means a lot

[@truthhurtts]

Remember to calculate your risks before taking them ladies and gents Commenting for the YT algorithm Pt. 11

[@krabkakes9535]

this guy's finances are more complicated than a fortune 500 company... my guy has like 50 accounts

[@NicksDynasty]

Probably like 11-13

[@krabkakes9535]

@@NicksDynasty yo I didn't expect you to reply LOL - Thanks for putting yourself out there for KZbin!

[@NicksDynasty]

@@krabkakes9535 lmao I'm all the way watching in the comments. Thanks for watching it was so fun to be on the show

[@awdrifter3394]

He's not doing too bad, the food truck's 5.83% interest rate is less than inflation right now. He just need a better business plan than working it 2 days a week.

[@NicksDynasty]

Thank you!!1 I can only open it 2 days a week now but I will open more when I am able too

[@mikec518]

@@NicksDynasty Sorry if you mentioned it in the video or somewhere else and I missed it, but why are you only able to have it open 2 days a week? Just curious

[@NicksDynasty]

@@mikec518 I fly saturday-Monday/Tuesday

[@missmia196]

​​​@@NicksDynastyhow many days a week is the truck open now? Is it profitable?

[@DdawgWalker]

16:25 Caleb’s face is priceless when the guy says the 3% yield is only for existing customers 😂

[@chadsdadbrad]

His food truck is up and running now! Check out Clutch Handheld Breakfast.

[@tanosantos1993]

Am I crazy? It just seems like there's always these people but have anywhere from like 3 to 5 to 8 accounts and they don't know what's going on in even like the two that they use all the time

[@a.h.2667]

Be sure to take the advice and put it to action. Sometimes we become hooked on gathering information and advice but it only works when it's used. Best of luck to you!

[@bigmeek4705]

Masterworks always seemed like a super sketchy sponsor. Like the crypto sphere, a lot of advertisement investments to get people locked into their super high fee structure for multiple years with a very nebulous payout.

[@TheRealE.B.]

Yeah... art may be a "real" store of value unlike NFTs, but it's NOT a passive investment. Rich people use it for shenanigans. They don't just sit and wait for it to become more valuable. They have to spend money on protecting the art, running campaigns to convince people that it's more valuable than the price it was bought for, etc. I suspect that Masterworks itself might be one such scheme by rich people to help them sell to new suckers for a profit.

[@JohnnyTurnerMusic]

Yeah, i cringe when i see the ads. It strikes me as a Ponzi-Esk setup.

[@rachelmukadi4952]

Can you bring him back please??!!!

[@glasscasedoll]

What a likable human this guy is ! I hope there is an update soon :)

[@fredrickscott6977]

Excellent customer service 👌. keep it simple with time constraints .An option might be to rent the food trailer generating a passive income and servicing the debt until you can commit the nessacery resources. Look out for your mum because you only get one 😜

[@NicksDynasty]

I really do want to rent out the truck for when I'm not using it. That's something I want to try!!

[@dallas9570]

I am over 30 minutes in and I've never heard Caleb be calm through an episode like this

[@kindredkey]

A side hustle makes you money... this is a hobby and remains a hobby until it clears the red. That's what someone told me and now I see the wisdom and sense in that acknowledgement.

[@NicksDynasty]

I am working towards clearing the read

[@missmia196]

Oh, I like that quote!

[@kieraburgess3431]

So sweet he was shocked someone came just for that and now everyone comes from all over just to be on the show ❤ his channel had grown so much amazing

[@imthemapimthemap]

Your videos have become a part of my daily routine! Keep up the work!

[@CalebHammer]

Fan m you!

[@manonjean808]

Wasn’t he on millennial money ? He’s seems familiar 😊

[@CalebHammer]

He was!

[@NicksDynasty]

Yes indeed 👋🏿

[@11Voltage]

Love how honest Caleb is

[@CalebHammer]

Always, or what’s the point, right?!

[@richthepup]

Same, not holding back punches is one of the things that put me on to this show

[@mackeejack6731]

So you’re easily impressed lol

[@ADF200]

He just posted a new video today about the food truck!

[@brendagerdeman7853]

Realizing a dream is great but you don't get a dream when someone else is paying a bill you should be paying. Also have your food truck in the area you live. Also he better hope that food truck is stored well otherwise it will get stolen in cbus happens every day

[@forgettem]

His mother should not be saddled with his $40,000 student loan costs.

[@CalebHammer]

Her age is the extra scary part for those loans

[@NicksDynasty]

I was only allowed to take out so much student loans. I couldn't take out the full amount I needed. I'm going to pay my mother back like I said I would. The truck is stored well and will be open for business by the end of the year

[@sixdsix5028]

These audits are fantastic motivation to stay on the right financial track. Great content.

[@NicksDynasty]

Thanks for watching

[@Ankur71284]

What’s the point of having too many bank account it only makes your life harder to manage it ..

[@NicksDynasty]

Most of them are set it and forget it. This time i was just doing things

[@NobilityProduced]

Good luck to him with the truck

[@mikapeltokorpi7671]

Been there. In Finland 80% of restaurants fail in 1st year and another 80% (of survivors) fail in the second year. We were 1st year failers and scored zero dollars profit after paying decent-ish salary to us. Was second job so we did not get feet's wet with that tryout, actually. But considering work hours it was not feasible. In the end it was bad, bad timing: that mall lost two (read: all of) major retail shops; one just before opening and another right after opening the restaurant. Ex wife got some thousands of euros tax deductions for next 10 years, though. Which mostly lapsed as there was no money to put to investments after closing the restaurant.

[@jayman8001]

My father and I run a Birrieria restaurant and if I was this incompetent I would run this thing down to the ground. You do everything for your dream not spread yourself thin and hope for the best. I even ride my bike 50 miles to the restaurant and from the restaurant because I need to save as much as I can. I have bags of tea some old lady gave me and now I ditched coffee for free tea bags 😂. I wear Walmart pants 👖 because who cares! I eat nothing but bean burritos 🌯 because It’s so cost effective. We do our own in-house repairs to save even more 💰. My future self will be thankful for the small sacrifice I make today.

[@thatcosmicsynchronisity1309]

Caleb I'm from Michigan too! And I would LOVE to be on your show but I could not afford to get down to Texas right now. But since watching all your videos over the last month, I've improved my financial life in ways I didn't believe I could! Thank you so much for making this content and helping people, even more so than just the people on the show but people like me who watch and learn!

[@NicksDynasty]

Thanks for watching! He used to do interviews via video chat, you should email him

[@Skill_Issue92]

Don't talk about it, be about it!

[@NicksDynasty]

Oh I'm putting in the actions now. It will all come together

[@Skill_Issue92]

@@NicksDynasty keep us updated man.

[@davidsensing2664]

Caleb is right. This guy is nice but ALL over the place. He needs to get his goals in place and establish a plan to achieve them. He can't run a food truck business not working weekends. Weekends are when festivals are. Plus, after working his main job he won't want to put in the hours developing that business. he will want to travel for fun.

[@NicksDynasty]

If you didn't pick it up from the whole video I do have a plan and goals. I can run a food truck by not opening on the weekend as I will be open on other days (people still eat during the week). My plan is to work with what i have and move closer to hiring an employee to work weekends for me. If you watch my millennial money or my personal "weekend the life" you will see I still had the energy to work both

[@NicksDynasty]

@@davidsensing2664 Food is my passion foor and I will see this dream through. Once the truck is open it will be hustle mode and the only traveling I will do is for work. My job keeps me a float and my spare time is about growing my buiness. I want to be the truck that does not fail. THis is my destination and I will work towards it. Thank you and I hope you stay tuned for the journey!!!! THe future is bright

[@shamsham8328]

Ive been successful in business and the absolute number one piece of advice I can give is to focus. Caleb is completely right, its necessary if you're going to get anywhere. Running a business is extremely hard and it requires a nuanced understanding of your specific industry that you need to gain by investing yourself into it completely. If you don't do that you're relying on luck to get you places and luck is rarer. If you're not willing to focus you might as well just sell it and find a side hustle that doesnt require a massive investment to make some extra money.

[@NicksDynasty]

This is my dream and I'm planning on seeing it though. Focusing my free time to reach my small goals and working my way up to the larger goals. Currently on phase 2 (transitioning to a trailer) then working on phase 3 (profitability of the operation) then phase 4 (expand hours and hire an employee)

[@shamsham8328]

@@NicksDynasty Thats awesome best of luck with it!

[@NicksDynasty]

@@shamsham8328 Thank you!!

[@seanpetersen8044]

I hope this guy's finances work out in the end, you can tell he is a smart dude

[@NicksDynasty]

Thank you so much! I'm working on it The personal side is increasing. Just need to fine tune the business

[@seanpetersen8044]

@@NicksDynasty and brave too, I probably would have been too nervous to go on his financial audit hahha

[@NicksDynasty]

@@seanpetersen8044 he was really nice and welcoming. The environment was. It always takes courage to open up about things especially on camera

[@cody5596]

Commenting at 40.1k subscribers. Just made me chuckle inside my head, this being a financial channel.

[@Corey_Augraph]

We’ll look back and remember this moment when he hits 403 b subscribers 😂

[@michael2275]

Could you do some sort of summary/ breakdown at the end of their balance sheet and income statement. The key information is so scattered throughout...

[@KatherineKuehn-Bao]

I agree. SUPER curious how he thinks he has a positive networth. Doesn't add up.

[@NicksDynasty]

@@KatherineKuehn-Bao I do have a positive net worth. 54k- (-17k) = 37k

[@NicksDynasty]

That would be nice if he started this!!!

[@missmia196]

​@@NicksDynastytwo negatives become a positive in math

[@NicksDynasty]

@@missmia196 +$37k

[@sierralavender]

Why does he have so many accounts? I was getting confused trying to figure out where he was transferring money to and for what purpose. I think he’s confusing himself too

[@NicksDynasty]

I'm not confused I just did not have what he was looking at and that month had more transactions than I usually do. Mostly I just use two accounts.

[@Benjamin-fh9ld]

I really love seeing content from Michigan and the Metro-Detroit area! It'd be neat if you visited and asked people in down town about their finances.

[@CalebHammer]

If WMU football decides not to suck one day and goes to the MAC championship, I’ll use that as an excuse to travel!

[@NicksDynasty]

Our Great Lake State!

[@benjaminhough8804]

The core of the issue is a complete lack of focus. He’s all over the place. He’s got an IRA, Robin Hood, so many accounts he can’t even keep track. He’s trying to start a KZbin channel, a ghost kitchen, then move to a food truck. AND he’s going to pay a debt for his mom and his own. He’s jumping from city to city and doesn’t even seem to live in one place. This is so chaotic. He needs to focus, consolidate, and pour everything into one thing. His plans and goals are amazing, but nothing will succeed when everything is a priority.

[@NicksDynasty]

The food truck and flying my normal hours is the focus. Join me for the crazy fun ride! Assets are organized and optimized I just like to try things like Masterworks

[@Kratargon]

I would have pointed out how much the interest would cost over the whole period if you only pay the monthly minimum- seeing how much money is being ‘wasted’ on interest may be a wake up call.

[@quixomega]

Nick's not doing badly, but with a few tweaks could be in better shape.

[@NicksDynasty]

Thank you for that. I hope you will look out for updates. Tweaks will be made

[@ludens1526]

As a black man I met a lot of brothers who are dumb with money and it’s sad

[@NicksDynasty]

Good thing i am not one of the dumb brothers. Thanks for watching our episode

[@uncookedlyric]

Pretty sure Nick was on CNBC make it or something. Story sounds familiar

[@tlen07]

I remember him

[@07broly]

I tried the "tough love" thing with my wife which didn't work because it seems to her that I'm emotionally/mentally attacking her and it nearly ended in a divorce which I can't handle.. as a result, 10/12 of my credit cards are maxed.. and I'm disabled as of February last year so I'm screwed. She's trying to pay it off now, but we're nearly a year behind payments and the interest is killer.. not to shame her or anything, she was trying to treat her depression with "shopping therapy" which obviously doesn't work.. it's not her fault, but I feel SOL...

[@kevinsun3244]

Always choose love over money. Money is the root of all evil.

[@07broly]

@@kevinsun3244when you use it and obtain it in an evil way, my intention to use it to help my wife by buying things to make things easier for her and relieve stress, now this stress is killing me

[@07broly]

@@kevinsun3244 also, that's just not a mature way to look at it realistically.. I want to use it to help the world aside from myself.

[@missmia196]

Dude, that sucks, I'm so sorry.

[@j.asmrgaming1228]

@@kevinsun3244 the love of money is the root of all evil it's a very commonly miss quoted passage. Money itself is merely a tool. that being said I think all of these people come in at least expecting if not wanting the tough love. a spouse you generally have to finesse that a bit more. and as someone who has had similar conversations with money if in different situations with my wife, I have found making the effort to talk "with" her instead of at her has helped me avoid not only making her feel unloved but also framing it in a way that speaks better and has better results for her.

[@MatthewSherriff85]

I would love to be on this show, but I really can't justify the trip from Australia.

[@missmia196]

True enough, but he offers virtual consultations also!

[@geriatricmillenial1983]

I would cash in all investments and throw it at debt. I would really invest time working on the food truck you can’t be two places at once so I would focus on one job. I know following your dream is hard because of limited resources but he’s taking it too slow with his food truck. He did say he’s waiting on permits but he did also say he started in may and it’s already half way through October so the pace is really slow. With his business already in debt I would focus on getting started I would probably move to Austin temporarily bc of the food truck industry. Perhaps it’s not a good time to follow your dreams with so much debt it seems with his business in debt he dug himself into a hole. On top of that he’s got another debt. Either work full time at his airline job and hire a part time staff if money permits so that he can launch his food truck. He does have money thrown in different places I would consolidate that. I’m not a money expert but throwing an extra 100$ dollars a month will go far in reducing debt.

[@geriatricmillenial1983]

Like with everyone else there’s always room for improvement and we can all use money advice such as my self. His rent is low and he got some giggle room.

[@NicksDynasty]

I'm going to work my airline job and work towards having the money to hire someone to help me with the food truck. I am glad I have the money to cover my rent and loan payments on top of my retirement investments.

[@geriatricmillenial1983]

@@NicksDynasty sounds good . You're an entrepreneurial person.

[@jayceewilliams5250]

Yeah he don't really seem interested in helping his retired mother pay that debt off. Or i would imagine he'd maybe pay a little more, or work on that truck getting up and running a little more quicker. I think the "she's not asking me to pay it back" really puts any urgency of paying her off his mind.

[@drtij_dzienz]

Why would he be interested in paying a debt that his parent took out?

[@jayceewilliams5250]

@@drtij_dzienz it was debt taken out in furtherance of his education. Essentially a parent plus loan is a student loan taken out under the parent's credit and responsibility but is supposed to go towards the child. If they took out 40k and he got nothing from it I doubt he'd speak as if he had a moral obligation to pay that money off although he has no legal obligation

[@drtij_dzienz]

@@jayceewilliams5250 PLUS loans are federal loans that parents can take out to cover their child's college costs. The parent, not the student, is responsible for repaying the PLUS loan.

[@jayceewilliams5250]

@@drtij_dzienz okay so you're saying the same thing I'm saying.So given his words and how he wants to pay off that loan for his parents out of a moral obligation to them, I'm saying he's not actually taking it as seriously as he would if the debt was in his name. We don't know the story behind the debt, he could've been denied loans due to a previous debt or other credit impacts and went through his parents or they could've just tried to be nice. All I'm saying is if you acknowledging that you owe someone money and saying you want to pay them back then treat paying them back a serious priority and not an after thought

[@NicksDynasty]

I said I was going to back her back and I'm going to pay her back. I am working on the truck now to open up. I just need to finish the thing that need to be done

[@rachelkmartinez617]

Having a good food truck is NOT a part time thing 😅 dude isn’t going to make it running a food business while being a flight attendant…I’m sorry but that’s so delusional I cannot believe he took out so much for something he clearly doesn’t have his heart in

[@NicksDynasty]

The food truck is my dream and I'm happy to run it on Thursdays and Fridays for now. So far folks have been enjoying the food and that makes me happy. My long-term goals are huge and It's going to be so satisfying when I meet them. A part-time food truck certainly can work. Most people do think so I'm happy that being a flight attendant is super flexible and I can get a lot of time off (by choice) I couldn't take out the full amount for school when i was younger so my mom has a parent-plus loan that helped me pay the full amount

[@102tatertot]

This dude was super fun, really glad he came on!

[@102tatertot]

Hmm he kind of had a turn towards the end; little entitlement about his mom covering his student loans, otherwise still a good guy with good energy and good ability to plan!

[@NicksDynasty]

@@102tatertot I'm glad you enjoyed my vibe, I try to be fun. The student loan thing is tricky. He was making it seem like I wasn't focused on paying back my mother but the fact is she didn't ask me to pay her back it was my choice. I am growing my business so I can have more money to give back to her and do more for her in the future

[@oliviatuffin1144]

This a great video, I learn alot watching your videos and it has been helpful to me. building a steady income is quite difficult for newbies. Thanks to Jamison moeller for improving my portfolio, Keep up with good videos.

[@larrynguyen2503]

Wow, amazing to see others who trade with Mrs Jamison moeller, I'm currently on my 5th trade with her and my portfolio has grown tremendously.

[@oliviatuffin1144]

@stiles lam You can communicate with her on telegam with the user name below

[@oliviatuffin1144]

'INVESTWITHMOELLER

[@thearistotle]

CALEB, PROBABLY SHOULDN"T LIKE THIS COMMENT, THEY SCAMMERS

[@esn187]

HAMMER TIME 🔨

[@Johnnydhee]

Take a shot every time this guy says "this account"

[@starsINSPACE]

Watching this while I'm staring at my relative's failed food truck, in their backyard... in Columbus! 😂

[@CalebHammer]

Oh NOO

[@nursenic03]

Dude should have saved his income and then started a food truck. His dumbass method to take a loan out for a truck is going to drive him broke for nothing when he could be saving money and living a nice life on his main job wage.

[@NicksDynasty]

I'm glad I am currently living a nice life with my main job, building up my food truck and investing for retirement. The loan was just an acceleration to get the food truck which I don't regret. Life is good

[@POINDXTRMUSIC]

Thanks for helping this guy out Caleb!

[@NicksDynasty]

It was great talking to him!!

[@Mihogan]

Caleb, have you ever thought of turning your videos into podcast-format? I'd love to listen to these while commuting

[@missmia196]

Maybe or maybe not this guy has some grand scheme to get his business up and running, but his stalking through the comments section is not it! 😬 It's not a good look lol

[@NicksDynasty]

Just getting potentially eyeballs on my channel I have not shame in my game at all, even if it's not a good look IM SCHEMEING

[@cupcakeordeath]

God, I love it when somebody knows how to save and can pronounce the word “exorbitant” correctly.

[@NicksDynasty]

Thank you. I like to think I can do some things right

[@donaldrichey3318]

I am sure he is a nice fellow but he is all over the place with get rich quick schemes. The few people I know who have had food trucks have said it requires a lot of work. Like any other restaurant you develop a following. Not sure if you can do that very part time. He might consider renting it to someone who wants to put in the hours and some roi going.

[@NicksDynasty]

What get rich quick scheme? I am solely but surely building a following and they are looking forward to me expanding my hours when I do so. It's a slow grind for sure. I'm having fun

[@donaldrichey3318]

I misunderstood. It sounded like a food truck was purchased but hadn’t actually started the business. It was pretty confusing to me but definitely sounds like something that would be popular.

[@NicksDynasty]

​@@donaldrichey3318 you are correct. I was in the process of getting it open. I had some repairs and test to do. Finally opened Jan2023 On month 3 now

[@donaldrichey3318]

@@NicksDynasty congratulations. I know a fellow that has three trucks. Two he rents out and the third he runs himself plus has a full time job. Started with nothing and has built up a business. 👍

[@NicksDynasty]

​@@donaldrichey3318 that's my goal. I hope I can get like him

[@choreomaniac]

He has added a lot of unnecessary expenses for his start up. He has to travel 400 miles round trip per week with a trailer. That’s a lot of gas and time and mileage that wouldn’t exist if he had it in Detroit. Then add in 5 percent interest payments which will never ROI over the lifetime of the trailer if only used a few days a week and driven that many miles.

[@drtij_dzienz]

He works for an airline. He probably flies out of Detroit and lands in Columbus

[@choreomaniac]

@@drtij_dzienz true and maybe he leaves the trailer there. But that’s like a 30 minute flight.

[@NicksDynasty]

I won't drive it. It stays in Columbus. I fly for free back and forth or I drive just my car

[@captaintom7600]

Caleb has a very conservative "Ramsey" view of personal finance. It works for most of his guests but isn't the best wealth building advice. More for the average person to keep them financially solvent.

[@OptimisedTutorials]

At least 5ish% apr isn't total death

[@GrantValdes]

1:30 Caleb already worried the guy wasted money by flying out to Austin

[@CalebHammer]

🤣🤣🤣

[@KnineFeline]

Don't worry, he probably (hopefully) used his miles and didn't have to pay. Lots of flight attendants get that perk.

[@NicksDynasty]

Luckily I'm able to fly for free

[@NicksDynasty]

@@KnineFeline I use my points for hotels and luckily I don't have to pay for flights

[@Sharrel2727]

Can we have an update with him?? I wanna know how the food truck business is doing!

[@NicksDynasty]

It's on the Finacial Audit Follow-Up channel now

[@Sharrel2727]

@@NicksDynasty what? Its a completely seperate channel? How did I miss that :(

[@NicksDynasty]

@@Sharrel2727 It's an interesting tactic. It's less than 2 months old

[@desiresalonskin1280]

This is definitely not his dream if he’s willing to keep his day job and have his business open only two days a week.

[@NicksDynasty]

It is my dream and I have a great day job I will keep for 23 more years while growing my business

[@samueld2630]

I will not tolerate any H‑E‑B slander.

[@TeKnoVKNG23]

Interesting story, with as much as he loves to travel and enjoy life I'd almost shutter the business and use that money to shore up my net worth so I could continue to just enjoy that lifestyle while stashing away for the future. Seems like it would be a fun life to travel the world with work helping that out and minimal living expenses. The food truck seems to just be a ball and chain holding him down. Restaurant style startups are just such a money pit for most people and a lot of them never generate a single profit. Seems he's already successful and making money and while I get the "follow your dreams" it's almost always better to just pursue the thing you're good at that you can make a good living doing. Dreams can come later when you are wealthy.

[@NicksDynasty]

I hear you and see how much money I can invest if I didn't have the truck right now. I just have to follow my dreams., I want to build an empire

[@Ashentz]

Seemed like he kind of shut off when Caleb suggested simplifying all his accounts and selling off the robinhood and Masterworks etc because he just wasn't going to do it. I wonder what I would say if Caleb told me to liquidate my stocks.. Well maybe he wouldn't because I don't have debt, but he'd probably yell at me about them being too concentrated and not VOO.

[@jjbdbd8279]

Caleb with another banger!!!

[@kevinkidneyy]

Being 100 percent debt free but 100 broke is. No

[@JeffreyLewis03]

Love your videos but it is really annoying to see all these people faced with the reality of their situations but not be willing to sacrifice their fun for a short time to dramatically change it for the better.

[@QueenMaeee]

I believe parent plus loans are included in student loan forgiveness!!

[@cmh0202]

Dang Caleb! Watching this old video on a flight back home since I’m all caught up on current videos. You were skinny! Would love to see you work back towards it. Look much more healthy and seem more cheerful

[@Demoncarlie]

Millennial money link?

[@NicksDynasty]

He put it in the description. I hope you enjoy my episode

[@52CA]

So he non rev’d to Austin because he is a flight attendant. Didn’t cost him anything. And flight attendants have very flexible schedules. I live near Cbus and work at the airport in Cbus.

[@NicksDynasty]

That's what I did!! It's a blessing I might have walked passed you a few times then. Say hello one day

[@52CA]

@@NicksDynasty I’m a corporate aircraft mechanic. Work in Lanes Hangers. But you never know. It’s a small world. Good luck!!!

[@NicksDynasty]

@@52CA Ah I see. Yup, I pass by there on the employee shuttle. Come grab a breakfast handheld one day. Finally open on Thursdays and Fridays

[@rachelkmartinez617]

Can someone explain the parent student loans? Never heard of that

[@Blackmegagun]

I've never wanted a business but even i know you gotta give it your all, even if it means it's your only source of income. Half assing a food truck is not a good idea

[@NicksDynasty]

If a business can provide a good service people will come during the hours of operation even if it's 2 days a week Of course, it's simply the beginning and more days are to come

[@camaya9065]

That food truck looks like an expensive hobby at the end of the day.

[@NicksDynasty]

Yes, it is for me. Just currently. It will turn into a profitable hobby

[@AppaTalks]

Great interview! Thank you for sharing :)

[@bengrimm_up_all_night]

🎉

[@Marcia-up3ud]

@calebhammer Can he come back for update?