Car Debt Is 50% of Her Income | Financial Audit

[@CalebHammer]

If you're one of the 67% of my Financial Audit viewers who are not subscribed, if you enjoy this content, feel free to stick around! 1 of my first 10,000 subscribers will win $1,000, and 5 will each win $100. You will be randomly selected and announced within the first week of hitting 10,000 subscribers! And we are ALMOST there!!

[@DuckiesOnQuack0]

Do it again. Im here now

[@darylrobins9099]

Just seeing this and seeing you were at 10k subscribers 2 weeks ago and now at 25k is mad quick growth, so glad to find this channel

[@synaesthesia888]

@@darylrobins9099 Same here, his channel is popping off!

[@alexwest245]

I’m here 9 months later and you’re at over 450k subs. Congrats on the channel! Please keep it up!

[@henrycams9020]

Here in over a year later, 650k+ subs!! Love what you do, you got yourself out and now helping others get out, while posting it on KZbin for everyone to see, thank you, God bless

[@jccanteen]

The discussion about why she didn't seek financing through her bank for a cheaper car is further confirmation for me that people only do what they know to do and financial literacy must be taught! We cannot expect people to just know how to navigate life without providing them the tools to do so efficiently and successfully. Schools need to teach financial literacy. Period. Forget teaching kids geometry, algebra, and calculus when most of them will likely not enter careers where those skills are necessary. Instead, teach them about credit, banking, investing, budgeting, etc. Teach them practical skills they will actually need to run their lives.

[@jccanteen]

Youth also need to learn these skills from their parents but unfortunately, some families recycle bad financial habits because the elders are not financially literate either. So if schools are going to teach math anyhow, teach practical math.

[@AlL-bi2im]

Math is good to teach though…. STEM pays well and many of those require some math and problem solving skills.

[@CalebHammer]

I know no one who I'm close to who has used geometry or calculus outside of school... personal finance must be taught!!!

[@CalebHammer]

Math is good to teach, yes, but is a one size fits all the best approach?

[@arsvi123]

@@CalebHammer The problem with that is that the earlier you 'specialize' the more kids you lock out of options. Most STEM programs for instance expect that incoming freshmen have had some calculus exposure, if you have to catch up it's doable but not easy and certainly not cheap. There are a great many absolutely useless classes one could replace before going to cutting math and science.

[@BeastJuanGaming]

Babe wake up new financial audit just dropped!!!

[@CalebHammer]

We out here!

[@dkvldz7224]

Literally me 🤣

[@Larry-Cruz]

Literally

[@frankc.astle214]

Lmfao 💀

[@loumojo8965]

Thanks for adding those on screen graphics for the numbers! This channel is gonna blow up with all the effort you are putting in! Keep it up

[@CalebHammer]

Thank you so much, Lou!!

[@uneuroalafois9313]

I really liked this girl. I can see how she is going to make it because she was active in the conversation and with what you suggested. i Hope we will have an update on her

[@tannam3190]

I absolutely love all these audits you do! Even inspired me to do one of my own after my finances have changed! Thank you

[@CalebHammer]

That's amazing to hear :) I'm glad these could help!!

[@77maryrox]

Coming from future Caleb Hammer videos, he was so nice to his guests before lol I like how comfortable he got now bc it shows he cares. 😅

[@chriswhetton3584]

I know this is harsh but I am a physical therapist and work in public schools with special needs kids. She is only working 6-7 hours a day. She isn’t too tired to cook, she is being lazy… her job isn’t like being a teacher, she doesn’t have to grade papers, or go to conference, attend IEP meetings, write IEPs, read IEPs, test students etc. Working with specials needs can definitely be a challenge but I am rarely too tired to cook. It’s all about habits and her habits are to order food.

[@user-hn8eo7sh4m]

School employees are severely underpaid. I hope she finds a higher paying job.

[@jaketorpepper-king3930]

Are they underpaid bc they deserve more, or its just not a lot of money? I dont think theyre underpaid, I think they just dont add a lot of value.

[@CalebHammer]

There are positions in education that pay well higher than she makes too, she has a job problem right now

[@B3ans0nT0ast]

@@jaketorpepper-king3930 🤨?¿ Teachers are super important wth

[@ThatLaurenThing]

@@jaketorpepper-king3930 bro….how can you possibly argue that teachers don’t add value to society

[@jaketorpepper-king3930]

@@ThatLaurenThing Teachers are an expense, they dont generate revenue. Obviously theres some value but any teacher whos so stupid to be in that much debt, clearly is not smart enough to teach our kids. And thats the issue, we have idiots teaching our kids right now.

[@victorbuz2759]

I look forward to these all the time! I could honestly binge watch all of these repeatedly. Keep it up👍

[@CalebHammer]

Thank you so much, Victor!

[@wjmg178]

People don’t look at the numbers and ignore the situation… everyone needs to sit down and look at their expenses.

[@alonzo2339]

Hey Caleb, another great video! Insane to see another person financing a down payment on a car. I think it would be really awesome to see a financial audit video about someone making 6 figures and living frugally and all the spending and investment choices they make! Keep up the content!

[@CalebHammer]

I would love to! I need someone like that to sign up first! haha

[@shanicemorgan2041]

@@CalebHammer I volunteer as tribute! 🙋🏾‍♀️

[@crash5225]

If you pay for my plane ticket I will come

[@grannybird7365]

Your down to earth advice is so needed. Is there any way you could open this up to the rest of the country? Zoom, maybe?

[@CalebHammer]

Zoom is linked in the description :) and thank you!

[@Username-o5r]

A 60k income changes her life .

[@Drazzziin]

Hey Caleb, another amazing Video!! Love it, these are the best and so entertaining and educational to watch. Are you planning to also do a Q&A Video series in the future where viewers can send in questions?

[@CalebHammer]

I would love to do that :) maybe at 25k?

[@moi.mp4]

Great video! I just moved out of Oceanside this month. The cost of living there is too high. If she isn't going to budget, she should at least set some time aside to track all her expenses. even the ones in cash.

[@CalebHammer]

Ugh agreed. I bet it's insanely expensive there...

[@maticb]

$214 for car insurance on a 15k car a month??? I pay almost 50% less for full insurance on my BMW M240i.

[@prissymegan5202]

I work 40 hours plus. I meal prep for the week and premake my dinner for that week. Cook on your days off that way you won’t eat out

[@dm3988]

She has a crystal clear vision of her career. She needs to network with college community administrators. Conferences, meet ups. She thinks a master’s degree will solve her problem but it won’t.

[@phantomz4882]

Love the vids man your just like my dad always giving good advice and not sugar coating it hope you start to post more

[@CalebHammer]

Thank you so much :)

[@JD96893]

damn this is tough to watch. That lady is taking it really well. I'm in bad place financially too, but thank god at least I'm not in debt. My wife is paying off her student loans though, so that sucks. I don't understand how she has gotten so little out of a 4 year degree. Is 34k a year not minimum wage? For a 4 year degree?!?!?!

[@jesse2576]

If thats your wife thats your debt too lol

[@nikthac424]

She is awesome for having a open conversation.

[@annieworroll4373]

Oceanside is a great town, spent a lot of time there when I was at Camp Pendleton.

[@n7y8c7]

Maritza PLEASE don't go back to college to get another degree for a low paying job. Between CA and Austin, you could double your income with a better paying job and really secure your future. Lean towards HR positions.

[@eduardovargas1133]

I understand that she has bad money management habits, but fixing that won’t earn her a livable wage. Ultimately, she needs more income, in addition to education.

[@AppaTalks]

$200/month for car insurance seems a bit high. Might be able to shop around :)

[@mario26cesar14]

Sad, Mexican American studies 😢. So a pointless degree. Ouch. Not even an English degree.

[@johnnymartini4989]

You should make a vid on the proper ways of getting a car, because I heard getting a downpayment on a car isn’t necessary but then it’s good to have savings for a downpayment?, just confusion

[@CalebHammer]

That would be a great topic to cover!

[@northtexan95]

One note: she's not being paid to do nothing during the summer. Instead, her salary during the school year is divided into 12 months instead of the 9 month school year (or however long it is). It's an important distinction when it comes to discussing teacher salaries.

[@susanlippy1009]

Yep they have an option in many districts to be paid in the school year or have it stretched out over the year. Same pay just paid out different. Most also require continuing education be completed so most teachers spend summers making this requirement not doing nothing.

[@debbieyates29]

It is still a crap salary no matter how you look at it. She is cleaning during the summer to supplement income.

[@butterpecanrican_]

I totally get where she's coming from. When you're used to living paycheck to paycheck, the fact that you can even save $25 a week feels like baller status lol. Other people see her situation as dire, but those of us who grew up poor think she's doing good lol

[@jimbo5071]

Anyone who grew up poor would wonder why she would buy a dealership car for 15k.

[@DsgSleazy]

@@jimbo5071 This, it kills me when I see people who grew up like us buying a car that they can't buy outright.

[@michaelbryant3643]

Those of us who grow up poor don’t buy $15k cars while making 30k

[@intensifier1346]

Haha. I would be making changes if I wasn’t saving $25 A DAY.

[@yeetusfeetus7877]

@@michaelbryant3643 Actually, lots of poor people would do that. Growing up poor can result in a person not understanding money, and as a result buying expensive things like that. Growing up poor can make a person want to “Keep up with the Joneses” even more than the average suburban middle class person. Heck, growing up poor can make a person want to do more than that - It can make them want to outdo the Joneses by purchasing things such as luxury sports cars, penthouse apartments, etc.

[@mrsdegaldy650]

man these videos make me feel a lot better financially. it also shows me how much more I need to keep track of my finances and savings. keep doing the good work 🥰

[@CalebHammer]

Perspective is great :) and thank you!

[@johnpc14]

So true! Every time he asks “how much do you think you spent going out to eat in April” I’m terrified because I don’t know the number myself.

[@the_inquisitive_inquisitor]

Nothing opens your eyes more than seriously going over your expenses for the first time.

[@langhamp8912]

Except for Subway once a week, I don't eat out. It's crazy how much I was spending eating out, and none of those places were fine dining. That change alone was worth a couple hundred bucks, it's insane.

[@KC-dr3cg]

Great videos! . I wish I had a way to show these videos to people I know and who are financially illiterate. They won't listen to me but maybe if I suggest that they listen to Caleb it might help them

[@oohily]

Watched all your financial audit videos and paid one credit card off immediately, made a budget & will be using all of august (probably September and October also) to pay the rest of my credit card debt off. Thank you for this videos. It was a reality check for me.

[@CalebHammer]

THAT'S AMAZING!!! You've got this!!!

[@17h127]

Awesome ☺️

[@theostracized]

@Darkfarfetch hard disagree

[@theostracized]

@JCS he's classist as fuck. I used to listen to his podcasts but got disgusted when he was talking about how these billionaires "worked hard for all of their money" (don't remember or care to find the exact quote tbh) and cut it off halfway through. Not a fan anymore

[@21Seamoney]

Dude just wanted to say thank you. You inspired me to dig deeper into my monthly expenses and man oh man have I been bad. You would lose your mind if I told you how much I spend going out to eat this month. Going to start cutting back (by about half) starting now! Thanks!!

[@CalebHammer]

Wow, thank you so much!! If I even helped a little, that is all that matters. You can do it!! I believe in you, keep us updated!

[@Ndasuunye]

LEARN TO COOK. Start simple and watch videos to take your culinary skills (and inspiration) farther. You'll save soooooo much money that way.

[@xxtoptankxx6873]

I put a Reddit post up about how much I spent on fast food. $750 dollars…….sure I spent none on groceries but gdamn that hurt. I stopped that month.

[@leanneg9388]

I love that she seems to want the financial advice and willing to make changes. I think she is going to make awesome progress!

[@the_inquisitive_inquisitor]

I agree and share in your optimism!

[@petermiller9904]

“It’s going to take time. Living in California….”

[@Doors067]

No.

[@Alan-hc6qi]

I have a cousin (20 yo) paying like $1K for 84 months 💀 Ridiculous how people find it acceptable to pay so much on monthly car payments

[@shaundell23]

84 months - WTF! If I’m paying $1000 it should only be for like 2 or 3 yrs max

[@CalebHammer]

$1,000 for 84 months?!?!?!? I'm in pain

[@Alan-hc6qi]

@@CalebHammer Worst part is my aunt/ uncle didn’t stop him and kind of encouraged him. They think it’s fine because he’s young. It was a $94K truck (probably subprime interest rate loan smh)

[@Alan-hc6qi]

@@shaundell23 $94K truck, If my math is correct, $10K down. Considering he’s like 20 I’m guessing horrible interest rates. Terrible mistake imo.

[@CalebHammer]

@@Alan-hc6qi Oh no :((((

[@CheckThisOut1]

makes $200/month from "an app that needs ppl to post on it"..? vague af. she doin onlyfans🤣

[@Renamandul]

Maritza, trust me. You do not need that masters degree to get the job you want or a good job. PLEASE hear me. There are many jobs you can work for in the state of California. There are many departments. One to consider is the California Department of Education. You can work as a Staff Services Analyst or an Associate Government Program Analyst. You’ll make between 40-70k with these positions. Please consider this. Graduate school will only dig you a deeper and wider grave.

[@CalebHammer]

Maritza, listed to Abdulai!

[@Brooklyn-rj3np]

Agreed.

[@jemalguillory]

I’m sure she’s going for BCBA. She’ll have a license to start her own business as an autism treatment professional. Big money near military bases.

[@Kav1an]

She’s 24, I also struggled with finances when I was around her age. Best advice anyone can give her is to leave California, low income and that state just don’t mix well. We really should pay our teachers more. At this point it’s almost below poverty level

[@xterra4hire]

She’s getting paid all summer and not working she should have another job during the summer to get out of debt

[@sunnohh]

@@Jbs6187 that’s the dumbest shit I saw today congrats

[@LyricalTampon]

@@xterra4hire She's not "getting paid all summer." In education, they pay you for the school year and then divide it up *if you ask them to* so that you get a reduced paycheck for 52 weeks a year. Agreed she should get a second job, though.

[@User84030]

@@Jbs6187 Then where should the money come for them to be taken care of? What if the parent is a similarly low income individual like this woman? People really don’t think things through do they…

[@abbyfreddh.5076]

I think she should change her lifestyle. There's alot of opportunities in California.

[@goombas4]

I work in the auto industry and recently a friend asked what percent of clients can actually afford the cars they purchase. I told him sub 10%. It’s ridiculous what these banks are willing to lend. As well as what people convince themselves they can afford.

[@CalebHammer]

That's so sad :(

[@zakattack467]

How much can I afford?

[@timothygibney159]

@@CalebHammer Go youtube car repo rate? Turns out they were converted to securities and sold 2007 style to investors. One of the collectors has a near monopoly and hoarding over 50k cars to prevent the used car market from crashing. It angers me as we need a crash to lower prices again. This is why this is going on as the debt is simply repackaged and unregulated

[@mauicountygis5450]

Was in a luxury dealership recently. Salesman is a friend and pointed to a woman in the waiting area. He told me she was trading in one car for their cheapest model (she was underwater) because she *had* to always be driving a new car. They were waiting to see if the loan would go through and her credit was poor. Sad to see people do this to themselves.

[@jimbo5071]

I know a guy who works at a coffee shop and drives a 70k car. He has had 3 brand new cars in 6 years each time trading up without fully paying off the last note. So he probably owes more than 100k in car debt and will buy a new car again in a year or 2

[@preston7795]

She has the summer off. She doesn’t need a side hustle she needs a full time summer job so she can make $15 an hour at fast food and essentially have double income for 3 months of summer plus her side gigs. She could have 1/2 her emergency fund before summer is even over.

[@auklett]

I found your videos recently and it’s been an huge reminder to revamp my finances. Tackling all my existing debt in August so that I can start saving up for an emergency fund and a proper car down payment. Thank you so much for what you do!

[@CalebHammer]

You can do it!

[@chubbyamanda6839]

She really should look into the grad school thing before she jumps in. Grad school does not guarantee more pay. A lot of the times the return is not worth the investment. She should talk to alums and see what their experiences were. And choosing an area of study that offers more job opportunities than just working in academia is very important

[@TheAlchemist1089]

100% Talking to alumni is important I talked to them a lot before jumping in to grad school, especially as a student immigrant

[@CalebHammer]

Yup, as I told her, no grad school unless she has a 100% laid out plan... and even still, part time if she has to so she can cash flow.

[@FinestOfTheSouth]

Amen to that! I was one of the lucky ones: my graduate degree was completely funded and I received a monthly stipend as a Graduate Assistant. But I have an advanced degree in sociology, which is typically not the best degree to get if you’re looking to make a lot of money. Luckily, I got into UX research with my degree and got a return on my (time and mental) investment. I can’t say the same for some of my grad school friends. I took a gamble and won, but it’s very rare. You’re right, she should talk to alumni before making that decision.

[@DaTryHardCamper]

Oh no I'm getting MBA without a full plan, am I fucked lol?

[@TheAlchemist1089]

@@DaTryHardCamper is it from a top school? If not it wouldn't be expensive I believe

[@jalcantar22]

KZbin algorithm brought me here and I'm glad they got it right. The content is entertaining and I'm glad you are able to find people willing to expose their financial taboos (talking about finance)! If Maritza can see this comment, and I hope she does.. my advice is to be as frugal as possible now, dave Ramsey would say, "live like no one else, so that you can later live like no one else". There was a lot of concepts and ideals that Caleb provided you that have taken me hundreds of hours to get on my own. It's solid advice and our downfall (I feel) and this includes myself... is the discipline. I too purchased a 15k car with a 29k income in my early 20s. I'm in a far better financial situation now and can see how important financial literacy is. Thanks again for the content Caleb. I look forward watching another one

[@CalebHammer]

wooo!! Thank you so much for coming over and I'm glad you're enjoying :)

[@6554]

I love these long form videos and have watched all of them so far. Also, props to you for implementing suggestions from comments. Great job, Caleb!

[@CalebHammer]

Thank you so much, David! :) and I read ALL comments and take them all to heart!

[@LaSombraa]

@@CalebHammer Caleb you should’ve let this individual know that her $15,000 car would’ve basically costed her nearly $40,000 in 5 years if she’s making minimum payments + interest + gas + insurance. That’s insane! By the time year 5 of ownership comes around, the car will probably be worth barely $5,000!

[@Gregq96]

A massive problem in our country is car-dependence. Half of this woman's income goes to just car payments... she has no freedom. We need more walkable infrastructure.

[@loro1rojo]

Or.. hear me out... she could have purchased a cheaper car.

[@mazdaohio]

@@loro1rojo True but $15k for a car is reasonable. Her main problem is that she does not earn enough income for a college graduate. Even 15 years ago, I earned more than she does and I had a communication degree. She needs to increase her income.

[@DarrinSmith2520]

You make it sound like half of her check is going to a car payment. That is not true. If she financed 15,000 for 5 years at 6% it is probably $300.00. That is part of her transportation budget, which granted is quite large for her income. Say $300.00 car payment + $200.00 insurance + $200 gas. So $700.00. She nets about $2500.00, so about 28% of her salary is going to transportation. So she gets a cheaper car and cuts the payment to $150. Insurance is staying the same but gas is probably going up, as is the likelihood of a breakdown. So she saves $50-$100 a month and may have inherited a bigger problem. You aren't getting much or a car for $5000.00. Sure public transportation is cheaper, but what is the value of the time spent for it? Unless you are in a large metro area, it adds a ton of time to your day. Plus all the cleaning jobs would probably not be possible with public transportation. I honestly don't like the advice about the car. It doesn't help a ton and there are other things that she can do to better the situation.

[@loro1rojo]

@@DarrinSmith2520 ah yes. Let's rationalize keeping a $15k car when you only make $30k.

[@Gregq96]

@@loro1rojo or.... Picture an American life where you're not forced to buy a car just to participate in society. She made a bad decision, but we can tackle the problem at the root cause. Let cars be a luxury, not a necessity

[@drewshultz8951]

She will not sell the car, and she is focused on refinancing, which will not help since the car is a financial burden. More income is the key to her success. Could she make the cleaning business a full-time gig and make more money than being an aid?

[@CalebHammer]

If she is able to save up enough to put a dent in it while refinancing. And I bet you are right about the cleaning tbh!

[@joslinnick]

She could clean houses full time for more money than she's making in her current job. She needs to sell the car for something cheaper.

[@petermiller9904]

She will definitely not sell that car lol

[@maxdudomite]

+1 on the car, she gave in to the urge of getting a nicer car for $15k instead of a $5k beater. Why did she go to the bank to see how much she could borrow but somehow end up getting finance elsewhere for a 15k car?

[@TheHolymadrix]

Would like to know if the grad degree would actually increase her income significantly. Seems like more and more these days people get these degrees and all it leads to is just more debt. Taking it part time isn't a bad idea though, as experience in the field will also help on the resume if that's what she wants to do. However, you made a great point that she needs to be certain of what she wants to do before adding more school.

[@CalebHammer]

Yup, I'm curious. I just can't say on the spot about a career path I'm not educated in.

[@LaSombraa]

I think it only makes the situation worse if you get a degree that doesn’t have high income potential or, you go into $150,000 in debt just to get a degree for a job that on average pulls in barely 50 a year. People go to school for ridiculous degrees like studies of humanities or gender studies instead of Finance, etc that actually make money. Rough.

[@johnjamele]

She could go from being a Special Education Teacher's Aide (I'm actually surprised that she makes $34k) to being a full-time teacher and make $50k within a year or two with a degree. It's probably worth the investment.

[@saraashkir5793]

@@johnjamele worth the investment? Even if she ended up with 60k in student loan debt, thats still over triple her current debt. All that for less than double the income, which makes zero sense. It would only be worth it if the income goes to 100K a year

[@phobedavis7014]

Unfortunately, women are being duped when iit comes to obtaining degrees. We must consider the roi (return on investment). As more adults avoid marriage this could be disastrous. Imagine being 99 years of age and still paying off student loans. The New Yorker just published an article about a 99 year old women with student loans.

[@HectorTrejoMusic]

Caleb Hammer then: “You’re spending more than you make? Darn aw shucks *chuckles* well let’s do this instead” Caleb Hammer now: “YOU’RE SPENDING MORE THAN YOU MAKE?! NO F*** YOU!” Caleb Hammer in the future: “You’re spending more than you make?” *takes out gun*

[@christianramirez8304]

15:30 “So what kind of content do you make?” “Ummm…” Definitely an onlyfans

[@CalebHammer]

You know what, I actually asked afterwards when we were off camera, it's not onlyfans!

[@christianramirez8304]

@@CalebHammer ah got it. Great content bro, keep it up!

[@CalebHammer]

@@christianramirez8304 Thank you!

[@cristianriosmata9280]

I thought the exact same thing lmao. Not that it matters.

[@Kyvax]

I would love to get a financial audit from you. I recently became obsessed with my finances since a couple years ago when I really wanted to save and kept making excuses that I was “too poor” to save. I’ve fixed it after getting out of a horrible relationship but now I wanna know what I can do to make more money to afford the kind of lifestyle I’ve always dreamed of! This is amazing, keep up the great work!

[@CalebHammer]

Come on the show :) happy to have you!

[@Jadenms]

I think you would come across better if you’re a bit nicer. Change has to be encouraging, not insulting.

[@johnpc14]

I have no idea where you’re finding these guests but they’re seriously the most authentic people ever. Love it!!

[@CalebHammer]

She’s awesome!

[@FT9chango5]

Is she single?

[@iamdenislara]

Wow!! Why does she make so little? I sale vacuums and make almost twice as much. She works with special kids she should be paid more. Ok.. I don’t ever use delivery services for my food so… WAIT!! It gets worse as I watch more. She is a college graduate and she cleans houses. And she didn’t know she could get a loan somewhere else? How!!!

[@brinasavko9671]

I would love to do this someday, I think I'm pretty okay with my finances, but I'm sure there is room for improvement

[@CalebHammer]

Come on the show, Brina :)

[@Prod1jbtc]

Same, would love to know how to come on the show sometime. Feeling pretty good with my finances with a six figure income, but always up for being taken under the microscope.

[@brandonnguyen1884]

ANOTHER FIRE EPISODE LETS GOOOO. Always sharing with my homies so you can get closer to that 10k subs. Keep up the hard work Caleb.

[@CalebHammer]

Thank you so much, Brandon!! You know how much I appreciate that!!

[@inbracedefeat]

The grip that these food delivery apps have on our generation is insane

[@CalebHammer]

It's true, gets me too!

[@unknownhours]

I had to uninstall Doordash. The temptation was too great.

[@Roy-to4ny]

Interesting videos, keep em going! What to me (as a European) stands out is the incredible burden having a car poses on a lot of people in your video. This is part of a much bigger issue of car dependency in the US which drains peoples income (gas, insurance, loans etc). I got my drivers license last year (27 now). The amount of money I've been able to set aside by not needing a car is absolutely ridiculous in comparison to a lot of people my age in the US

[@CalebHammer]

I'm making a video on that topic for Wednesday!! It's crazy!!!

[@dynamichunter843]

I wonder if that is balanced out by higher taxes in Europe for the middle class, but in the US it definitely hurts the lower class more than middle class, but it’s still a hurden

[@joories]

@@dynamichunter843 The tax on income is higher in Europe that’s for sure. But that also covers health for the most part. In addition, in Europe we have very low property taxes, while I believe in some US states, property taxes can be more than $3000 per year. When you take these nuances into account the absolute tax burden is not that different. 28% for the us and an average of 37% for EU. Mind you that the difference between EU countries is bigger than between US states.

[@d_all_in]

It's because these idiots buy expensive ass cars instead of cheap old ones. Not to mention the fact that public transit is widely available in the cities, people exaggerate the car dependency meme.

[@Sunshine4]

@@d_all_in Let's also consider the time spent on public transport and the safety!

[@Suxanes]

Love these videos! It really makes us aware of how much we are spending. This is why most of us are in debt because we are not being aware of our spending. And what's people's obsession with high car payments, remember a car is just tool to get you to point A to B.

[@CalebHammer]

thank you!

[@loveandjoy810]

Great video. She's young with no kids. Time to grind. Sometimes you have to hustle just for a little while. It's easier to do when you know it's temporary. When my son was in his early 20's, I told him, get a second job and stack up cash. He said, I'm tired at the end of the day, mom". Now he's married with a kid and they are struggling to stay afloat. This whole situation would have been easier if he'd done what I said and had nice fat savings account. You can only lead a horse to water but you can't make em drink.

[@CalebHammer]

Well said, as always!

[@leelowe1]

Agree with this 100% Sometimes you have to take the unglamorous job or jobs and work like there is not tomorrow, to get ahead. A lot of people are unwilling to sacrifice to get ahead. She has an income problem on top of everything else. She needs to work whenever she is off from school and as others have stated, see what she can get with the degree she has. Grad school is a further expense that may or may not pan out. Budgeting works. It's tough and it sucks, especially when you don't have money for fun but being an adult struggling into your 30's, 40's and beyond is worse.

[@jojotwin002]

These videos remind me to keep my busted car with 215k mileage until it can’t no more.

[@dalia.deleon]

I really appreciate your approach with your clients. It's a nice mix of tough love and being firm with being empathetic. You break things down so well and ask questions that are so educating for not only the client but me as well. Just found your channel today and now binging. Love seeing local KZbinrs, too!

[@CalebHammer]

Thank you so much!! If you ever wanna come by and be on the show, let me know!

[@cre8ivfun]

Your getting on her for having a car half her income 😳 I make 55k a year and have a 65k car 😂 but idc because a car is what gives me enjoyment in my life and what I work for. I do not only want to work to live I want to work to enjoy. I still save around 1.5k a month..

[@feltnerjosh]

Keep up the grind! Feel like you’re growing so fast, no time before you start making a decent living from this while educating individuals wanting to become more financially literate.

[@CalebHammer]

That would be the dream :) thank you!

[@TheeKingToad]

Where does she create content? 😏

[@glorita8061]

Just a lil message for Maritza: you mentioned you were interested in going to law school but you ended up changing your mind. If you’re still interested, I recommend becoming a paralegal. We make pretty good money here in SoCal. Worth looking into! Wish you the best!

[@CalebHammer]

Good call out!

[@Pndapete2]

Honestly, I feel her on the car. I didn’t know you could finance a car through a bank. I have always just bought cars cash. Like two - three grand cars. Always wanted a more reliable car but didn’t want to take the crazy loans dealerships have.

[@17h127]

My credit union offers car loans too and they say they have much better rates than the dealerships. I've never looked into it. I've only paid cash like you.

[@CM-iz5ny]

Cash is king. The only downside is Cash builds no credit.

[@truth.speaker]

@@CM-iz5ny credit ratings are for people who want to be in debt (I'm not saying debt is bad. But often it is)

[@CM-iz5ny]

@@truth.speaker credit ratings are for people who want a house and business.

[@truth.speaker]

@@CM-iz5ny it makes it easier to get house debt, yes. Business debt isn't always necessary. Starting small and moving ahead without debt and larger overheads can actually make it easier to grow when times get difficult

[@mrsmith1339]

She makes kess than $17 an hour. She could work at Wend'y, make more money, have free uniforms, and free lunch.California; high taxes, high gas low wages She didn't want a non dependable $5000 car. $17,000 in student loans to make $34000. Her only problem is not enough income. Forgive student loans. Will they rebate $10,000 to all those who paid their loans? Whynot

[@cjhoward409]

What about my student loans that I worked hard to pay back for myself ?! 🤨 Anyone who signs on the dotted line for ANY loan, needs to be an adult and pay that back themselves. Grow up ! And really, free lunch at Wendy’s every day ? Ohhh, sign me up ! (Sarcasm). It will be a matter of 30 days before she’ll need a good Dr to fix her broken digestive system from eating that crap.

[@cjhoward409]

@Roberto Vidal Garcia I was being sarcastic 🤪😜😆 I’m happy she’s getting help. And I was very happy to pay off MY own debt. Was never expecting the federal government (also known as the American tax payer) to pay my bills

[@NatsumeKonno]

Get an oven or air fryer. Buy food from Costco man taste so good and so much savings. I can now say eating out taste nasty.

[@jessicalizarraga9160]

Cars should be optional not a necesity. Anywhere in the world you go, you mostly rely on public transportation, but here in the US, I find it so unfair that you don't get to chose that.

[@kylia2009]

The irony that she didn't go to law school because it was more work than she was willing to do... but now she has a job, two side hustles, and still doesn't have any money. 🙄The hard work would have been well worth it..

[@kendigjl]

A degree in "Mexican American studies"? I've heard all the top earners work in that industry. Her situation is surprising.

[@docgravenshmit6692]

Car debt is one of the biggest unnecessary problems young people get themselves into. I make high six figures and I drive a 17 year-old Honda. Getting out of the car debt cycle was one of the best things I ever did for my finances. Jeff Bezos drives a Honda Accord. If it's good enough for him, it's good enough for me. I'd rather invest the money that would have gone to car loans.

[@TenOfZero1]

If you are making close to a million dollars a year I would hope you could buy a car cash and not have to finance it.

[@docgravenshmit6692]

@@TenOfZero1 exactly. and I stopped financing cars when I made much less. probably one of the best moves I ever made to help grow my wealth.

[@sprablat]

So she had a car that was fully paid for but then says there was a balance and insurance paid that off and she didn’t get anything for it. So what is it? Did she owe or was it paid off?

[@CalebHammer]

It got a bit messy, but sounds like she had to pay off something related to it.

[@jeffenriquez9929]

She could double her income if she got a masters in teaching and became a teacher. FYI she’s currently a teacher’s assistant.

[@mazdaohio]

I’m going out on a limb but I assume the fact that she is participated on your channel means that she wants to improve her situation and needs some advice. Kudos to her for recognizing the need for improvement because that is something uncommon for people her age to do regarding finances.

[@davidclay3737]

Do you do these audits with people who are not face to face? I am in my mid 30's with a house, 2 kids and decent income in a lower than average cost of living area. Would love to have some insight on my spending/investing habits.

[@CalebHammer]

I don't do episodes face to face, but I offer private 1-on-1 video calls, linked in the description!

[@desertguy1362]

34k living in CA she's either hoping for a miracle or land a man to help her. Not a sexist comment. She is underwater.

[@bmanichanh]

She's a content creator for an app she doesn't want to name...

[@TenOfZero1]

Would have been a good place to plug it! I probably would have checked it out.

[@HotelBravo556]

Hey, Caleb! I’m in auto sales. The problem with trying to finance a $5000 car is it’s near impossible without stellar credit and will usually have a very high rate. Even at credit unions. This is because lenders see older/higher mile vehicles as liabilities.

[@pembo13]

@CalebHammer I was just coming to ask where do you get financing on a $5,000 car. Most banks and credit unions have minimum age limits to finance. And the cars within the minimum age range aren't available at $5,000 even $10,000 right now.

[@xxtoptankxx6873]

I did fincance a 5,900 dollar car, with a 7.19 Interest rate. I’ll admit it was at the VERY LIMIT of the age and Mileage. Heck I even think it was just past it. I should’ve just paid cash but I didn’t have it. I paid that car off in a year

[@DanielA-lp7sw]

His advice should be, find a higher paying job ! I would not get rid of the 15k car. Realistically there is not anything worth buying at 5k. It’ll have high mileage and will be issue after issue fixing everting that ends up breaking

[@paolaanimator]

I've been loving this channel and learning a lot I didn't know about finances! I've been noticing a pattern where most of people's income comes from eating out or ordering food. It makes me glad that I have been learning to cook with my family. I realized how much money is saved with groceries, plus cooking at home is so much more healthier as well.

[@astrothsknot]

yeah, but if you're working all the time, cooking is something that cuts into that time. I have long covid. i don't have the energy to breathe half the time, never mind cook.

[@tsrocks2029]

I’m 26 and sometimes cripplingly stressed about my future, then I watch these videos and feel a lot better.

[@BossItUp911]

comparing yourself to poors isn't exactly setting the bar high

[@Meower20]

@@BossItUp911 💀

[@ginyu2969]

@@BossItUp911 😂😂😂😂😂

[@cjhoward409]

26 ! That “old” huh ?! Lol You should be busting your butt working and working and saving and investing and working some more and living below your means! Trust me…. Your OLDER self 20-40 years from now will thank you !!!

[@Egghead8998]

Lol 16:28 her 4 year degree is worthless. I would’ve skipped college and done the cleaning and be debt free. She’s barely making it

[@iop1898]

Been watching you since the first financial audit video. It’s been amazing to see your channel grow so fast! Keep up the good work.

[@CalebHammer]

Thank you so much :) could not be here with out you!!

[@TheGreatChrisB]

When he said "Where does it end?" when talking about affording education. Welcome to America, that is what we're all doing and saying.

[@CalebHammer]

:(((

[@holmiumh]

Yup, blame the system instead of poor personal choices, seen that before, try harder.

[@TheGreatChrisB]

@@holmiumh You clearly are a highschool dropout, highschool grad at most. College is expensive, unless your PARENTS are wealthy and pay for it. It has nothing to do with your choices and everything to do with those of your parents or grandparents.

[@annieworroll4373]

What is it with people in financial trouble almost always having silly cars, and not even their dream cars? Like you could maybe justify financial strains for a lifelong dream car, but people do it just to get from point A to point B.

[@expeditionbasset]

The fact that a special ed teacher only makes 32k a year is insanity.

[@xxtoptankxx6873]

I’ve thought about being audited. I am following Dave ramseys baby steps so you might not like that lol

[@johnjamele]

This woman should just take my sister's class on finance: Just get mommy to pay for everything.

[@CalebHammer]

Oh no no no pls

[@Rees-Howells]

Thank you, Caleb! This is super helpful! Very practical. I love that I can relate to almost all the people you have brought on the show

[@CalebHammer]

That's good to hear, I'm very glad it's relatable!! Thank you so much for watching!!

[@jennyjenny3531]

She's clearly smart and articulate- just shows that being smart with money isn't automatic, you have to pay attention and be intentional and consistent!

[@supreme5998]

Good financial advice but I don’t think you know how car financing works. Actually the older cars that would cost around $5k would be more expensive than her current car. The reason why is because the banks give a shorter term for cars that are further out of warranty so a $5k car might have a term of 18-36 months as opposed to 60-72, making the payments much higher for an even older car.

[@chimairoegbu2263]

Am I the only that gets giddy when I see a new financial audit dropped?

[@CalebHammer]

I do! :)

[@donnacordova5928]

She has summer off...how about get a summer full time job?

[@Dragonologist]

One thing I learned from this channel is that broke people have broke people habits. There is a lot of overlap between the broke people on these channels. The pattern is palatable.

[@royh2618]

well said. Their situation arent helped with more money because they dont change their spending habits

[@billybob4274]

What a waste of money. Human development in Mexican-Americans? Might as well have been a librarian. Only thing you can really go into with that kinda degree is human development in Mexican-Americans. THAT'S why you didn't become a lawyer.

[@MrRagweed]

Addicted to your content dude!! Keep up the great work. I guarantee that your videos are changing the lives of many millennials!

[@CalebHammer]

Thank you so much!! I really hope so, because that's what matters most!

[@landlubber42069]

Legit advice-- if you need a cheap car, Toyota Echo. Ugly as sin, nobody wants it, but that's kind of why you can get one for 2-3K.

[@Lark.e.n]

thank you for having tough conversations without insulting or bashing the guests

[@genxx2724]

“Uber Eats a lot.” Gimme a break. Make a sandwich.