He Can’t Even Afford His Minimum Monthly Payments | Financial Audit

[@CalebHammer]

I partnered with resources like Coursecareers for people like him, feel free to check them out in the description above.

[@DuitLikeThis]

You spelled internet wrong

[@Bob-xe4dn]

Caleb is screwed because he's a beta male

[@Bob-xe4dn]

Caleb you are a Beta male

[@tangedal9983]

Anyway you can give advice on how to stop purchasing daily stuff such as rockstars and lunches at work. That’s my biggest issue. I’m going to start by really trying to focus the night before on packing a lunch and saying no to energy drinks. It’s financially holding me back from really saving good money. I have a career down and make a decent amount. I’ve recently moved back in with parents at so I have to use this time to teach myself how to be better with my money. Spent the last 5 years trying to survive in a bad relationship with kids involved. Made a lot of bad financial choices but I’m at least under 10k in debt.

[@allisonisis]

Caleb, when are you coming up with your own financial app? I want to hear a notification of your squeaky voice asking what I'm doing using my card to eat out again when the app is notified of my purchase 😂

[@katphifer3172]

I love how gentle and understanding Caleb was once he explained that he didn't understand interest. Caleb never blames people for not knowing, just for knowing and not doing.

[@andreaguerrero7290]

I feel bad for this guy, he’s stuck between bettering himself and having the guilt of not helping those who raised him and didn’t let him down.

[@ThePocketFox]

Ditto, it's a tough place to be, but if he can care for his own situation now he'll be in a better place to help them later.

[@adriankapoor2657]

@@ThePocketFox what is “later” really for them when not to be morbid, but they may not be around long enough to take his help. I think Caleb was out of touch in this episode

[@morethan1]

​@@adriankapoor2657but when they're gone he'll still have to live with the consequences of not taking financial care of himself for another 40 years

[@3namechangezalowdevry90day7]

Someone in that situation would be better off doing laundry by hand and saving money for a basic new or used washer. Might even be able to find a free one on Craig$list if they're lucky.

[@3namechangezalowdevry90day7]

@@adriankapoor2657 It sounds like his grandparents are actively wasting money, not barely surviving because of a fixed income. He can't change their mental attitudes, only better his own situation so that he has money to help them with EMERGENCIES, not new appliances. He should just consider that washer payment his "rent" ( since they're not charging him) and go from there.

[@kaylingalewitz]

“I didn’t know what interest was until 4 days ago” I love this guys honesty!!!

[@CalebHammer]

Absolutely

[@vidguy007]

It’s actually a failure of high school

[@lot2196]

​@@vidguy007 100% correct.

[@bigbird4481]

​@@vidguy007 agreed, highschool should have a mandatory course in finance

[@cardojp]

Its a failure of him and his ignorance, not the school system.

[@bri4550]

I really felt that when he said “my situation is bad but I’m in the best position of all my family members.” This guy has the weight of pulling his family up and that’s a crushing and sometimes impossible task

[@308av]

These are the people you root for because they're so generous, but numbers are the numbers. It's like a person that's drowning helping others around them that are drowning as well...these kinda people have to make some tough decisions and not be so generous, or being taken advantage of. Also fear a good generous person turning cold and bitter. Hopefully he can make it work and get out of this hardship. VERY RELATABLE FINANCIAL situation.

[@salazarboxing]

Him holding those 1,000 dollars from his mother, despite being in crippling debt honestly made me cry.

[@7eis]

If he put them in it could serve as an awesome motivation to crush his debt in a hurry so he can build it up again for whatever he decides will be a worthy reminder of his mothers life. Ngl I almost reached for a kleenex.

[@kated113]

I’m really worried it’s a paper check made out to his mom and he’s not going to be able to cash it easily

[@se7enthsoul]

Truly a trooper

[@Patchow]

Same man. So sorry for him

[@Jonathan-do1sj]

@@kated113 Damn hadn't even considered that and it's a very real possibility..

[@gabrielafuentes6352]

I liked this kid! I feel that when your grandparents stepped up to raise you... you would do anything for them..He was very attentive, asking the right questions, engaged...I really hope he makes it to a better financial place. Im rooting for him!

[@margostarcruiser1083]

Rooting for a positive follow up video!! Love it!

[@NovaDoll]

People will take advantage of their family. He’s paying for everything and making no money.

[@dedalliance1]

I feel like it's pretty reasonable for him to buy a washer and dryer if he's living there debt free.

[@Chris-es9cw]

@@dedalliance1 Yeah that was my take in regards to the washer and car insurance of his grandparents, rent alone would crush that. Really if he just stopped getting take out, did meal prep and picked up some night shift work at another job his situation isn't terrible for recovering.

[@dedalliance1]

@@Chris-es9cw Yeah I agree. I'm kinda new to this Caleb guy but he seemed to be being a little weird in this one. His Grand parents are letting him stay rent free in their house not charging utilities he said he can eat their food if he wants/needs to. So to me if he pays for a couple things here and there like the washer and dryer or car insurance (excluding his aunt, not sure why he's paying that) then it's a fair trade. That's what family does you help each other when you need it and everyone wins. I think it's dumb to think he should be able to just take advantage of his grandparents so he can get himself out of debt faster or easier. Like you said with a little more work and money coming in if he stops wasting his money he can be out of this pretty quick. I think the lesson on the washer and dryer should've been don't go finance new ones when you're broke. Get on Craigslist or Facebook and buy a decent set of used ones for probably a couple hundred bucks. Renting them is terrible advice, at that point just go use a laundry mat with quarters lol. But he does need to set boundaries with his family, he can't afford to pay stuff for a lot of people but car insurance in trade of free rent is a good deal.

[@maclaindrake2891]

This guy is probably the most straight up about his situation. No excuses and seems to take in everything Caleb is saying. Mad respect for that, and wish him best on the future.

[@b7Hn4eX8yv4m]

His transparency regarding lack of understanding money goes to show how necessary proper schooling regarding money is. From what I understand, it's not taught in school. It certainly wasn't for me in high school 20 years ago.

[@sarahschreffler5407]

@@b7Hn4eX8yv4m My son is signed up for a financial class in 11th grade next year. They have afterschool seminars about financial aid and encourage all the HSers to attend and learn. (And I remember learning about interest, and even compound interest, in middle school in the 1980s) My daughter in 4th grade did a makeshift "budget" including cutting out pictures of things they wanted to buy. I think to some extent finances is one of those things that the information goes in one ear and out the other until you have real money that you earned to work with -- and it actually MATTERS for where you sleep tonight.

[@austinjacobsen7689]

And blatantly ignorant of his income and interest that he has no clue about.

[@austinjacobsen7689]

​@@sarahschreffler5407 that's great but they still don't go over income and housing costs. Student loans cripple post-college. Ideally cash flowing college is best and staying away from having to borrow.

[@Youre-Welcome]

No excuses?? He couldn't seem to get it out of his head he shouldn't be responsible for other people's expenses.

[@roxxylala26]

If he's not paying RENT to his grandparents, I'm sure the washer& dryer is probably a way of saying thanks to them. I bet his grandma probably washes his clothes as well. Cuz if the kid had to pay them rent, he would be even more fcked. So easy on taking the appliances back from them Caleb. 😭

[@bryanrt79]

And the car insurance. I think it's getting off better than if they were charging him rent!

[@antgue756]

Yup this where he seemed a little heartless for the first time. Like I understand the logic but you cant do that to the people who raised you.

[@gidgetgetscrafty]

Sounds like his employer doesn't want to pay health insurance, so they're keeping everyone under 30 hr/wk. 😢

[@xfhnhhgjbvcfg]

Why would they want to pay that lol

[@gidgetgetscrafty]

@@xfhnhhgjbvcfg Employee retention? It's a business model of wanting to keep employees for awhile after training them vs. saving money, but high turnover.

[@xfhnhhgjbvcfg]

@@gidgetgetscrafty fair enough.

[@illicitleafcombuster]

@@xfhnhhgjbvcfgIf they can’t afford it they should go under 🤷‍♂️

[@xfhnhhgjbvcfg]

@@illicitleafcombuster lol spoken like a true Liberal

[@budgetandbalance]

Can't wait to see an update of this guy in 6 months. I feel like he might stick to the plan. And I LOVE Caleb's idea to take the money from Mom and bless someone down the road when dude is in a better place.

[@emilyorton6304]

I wish this series existed when I was in my 20's! I can only imagine where I'd be financially today if I'd heard all this awesome advice much earlier.

[@markcowan3366]

I do aswell, but I probably wouldnt have listened. I spent like $2k/month on going out and partying for years. If only I would have invested some of that and bought gold/silver when I had the extra cash and everything was cheap!

[@chitownkidd33]

@@markcowan3366 same. At 22 i had more money then most 22 year olds but blew it all. If i put it in bitcoin id be on an island somewhere. But like you said, i wouldn’t have listened anyway

[@rooneypartridge6186]

as a 21 year old I can say this has been huge for me

[@jacquelinepaige-hammond3548]

I totally agree

[@jaydubya9265]

All of our stories are the same. I’m 35 now. Finally got my ish together at 29-30 but had I listened from 16 yo 29 id be taking twice yearly trips to Brazil and DR instead of trying to plow money into retirement.

[@NotMalikScott]

I like guests like this because they’re way more relatable then people making 100k+ a year.

[@Vazcov1609]

Not everybody makes less than 100k so it's good to have a bit of everything.

[@Topiary56]

I feel like that doctor recently was pretty eye opening also. It really shows how making more money might not necessarily get you out of debt because of lifestyle creep and stuff. Overall, having more perspectives is really nice.

[@iaintookthatbb6599]

I guess but the different perspectives of life is great to look at. Even if you don’t “relate” to it.

[@adamseidel9780]

You mean people who don’t even work full time? No. Get a job.

[@jaydubya9265]

Plenty of ppl earning 100k plus and still in a 💩show.

[@AddNameLater]

Keep your head up Harold - you’re already in a better place than most by acknowledging the situation. Mad respect for wanting to make better choices, we’re all rooting for you!

[@clintonlunn7582]

I think it's fair for him to supply his grandparents a washer and dryer since they don't charge him rent. However, he should have just bought a used washer and dryer off craigslist for just a few hundred bucks.

[@k3sh1a21]

I agree! At this point he should take the L no need to take them with him. By time he is ready to move out he can buy a used a set for himself.

[@global2829]

That plus the car insurance is effectively his rent payment.

[@F1rst0raft]

I had the same thought. Ultimately he needs something better than 17.50 an hour and the McDonalds and Doordash is a life suck on so many levels

[@Dre2Dee2]

This is why you dont mix your finances with family. It always turns into a mess of "you owe me money / oh yeah well IM your _______" DONT. DO. IT.

[@Z9zs]

Same, why would he burn his only safety net. It's a fraction of the cost he would pay in rent

[@hiphopchick876]

I am a silent watcher of your videos Caleb, but this one hit me hard. His family situation sounds extremely difficult and I can relate to wanting to help those that raised me when they need it even if my financial situation isn't great. I am totally with this guy and for some reason really really really feel for him and want him to succeed more than any of your other guests. If I had the money to help with his debts I would help this guy right now. Thank you for having him Caleb, and I hope we see him again on your channel!

[@Iwasjustwondering89]

I completely agree. His situation is rough and he has such a big heart. Poverty sucks, generational poverty is an impossibly deep hole to claw your way out of. I commend this guy so much for coming on the show. If he had a gofundme or sth, I’d be really happy to pitch in.

[@byiraveyp8705]

I completely feel the same way - should we set one up? Would be great if we could get in touch with him. @calebhammer

[@hockeyhalod]

Caleb is doing exactly what he needs. Some advice to get through it and not just getting his debt paid off. The lesson is going to be learned if he can claw himself out, earn more, set himself up, and then 3 years from now he is helping others again because his life is on automatic. Plus he hopefully gains insight on how to give the smart way. He can also help his family by teaching them the same lessons he is learning from Caleb. That could save their lives more than being dependent on him.

[@3namechangezalowdevry90day7]

This kid's grandparents made their own decisions. He's still young and can learn and do something different with his life. He doesn't need a bailout, he needs to learn from his mistakes and change his ways.

[@QueenRyanKnockedtheFuckOut]

Caleb should open a gofundme for every guest on the show, he’s one of the few I’d want to donate some money too

[@laurhart]

“You matter too” is so important to hear. I hope he heard you, he’s a good person who seems willing to break what sounds like a generational cycle of financial problems. Best of luck to you Harold! I’m rooting for you!

[@sallythibodeaux7992]

This is a tuff one. He’s been supported all his life by his grandparents and buying them a Washer and Dryer is the least he could do. Everyone in the household needs to make a better budget and I definitely understand him wanting to help them. He is also benefiting from the appliances. Maybe the best thing would be for him to PAY RENT so they can pay their own bills. 😊

[@NAEVAN238]

I deffinitly agree. I think it is ridiculous that caleb seemed to think he shouldn't have to help out at all just because he is in debt. edit: I also agree that having him pay rent could be a better way to do this.

[@Scarface_445]

@@NAEVAN238100% disagree, he needs to love himself before he can love others. I.e he needs to be financially stable before he can financial support someone else. Additionally, helping them is fueling misbehavior. Why should he sacrifice his future because as the kids say “you had 40 years to stack your bread and you failed.”

[@Ilovetacos926]

It’s 🔨 time !!!

[@greysondevendorf]

Love that!

[@matthew9677]

​@Ashley N it will now 💪

[@MaidJehanne]

I'd love to see him back. He was so engaged, taking notes, asking the right questions. And he has such a good heart, I feel for him and I hope he makes it

[@mckenna_L_]

He seems so sweet I hope he takes the advice and is able to get out of this-I have high hopes

[@Troonielicious]

He needs to cut that eating garbage spending, learn how to cook, it’s not hard at all

[@rachel4339]

Exact same opinion except I think he’s hopeless. He’s far too entrenched in the codependent family dynamics he’s surrounded by. Unless he’s able to not only learn what healthy boundaries are, but actually apply them, he’ll never be able to get out of the hole he’s in. I don’t have high hopes for him but I *do hope* I’m wrong and he knocks it out of the park.

[@mckenna_L_]

@@rachel4339 I can see that perspective too. I’m his age and while I may have done more introspection and self development than some of my peers I think this is a time when you really develop and learn how to set those boundaries and be a grown up. Hopefully this is enough of a wake up call for him to do that instead of steering further into the codependent relationships. I think I’m also just hopelessly optimistic that people will choose to value and help themselves and grow into responsible people 😂

[@armondstreet3605]

I pray he never falls in love with the wrong woman that’ll take advantage or he’s bankrupted

[@jamesharrison6569]

My portfolio has good companies, however it has been stalling this year. With the present inflation and dollar devaluation I just got my money out of the bank, I invested some in gold and silver and I’ve approximately $700k stagnant in my reserve that needs growth, any suggestions to grow my portfolio will be highly appreciated.

[@monerharris9430]

very true, I started investing before the pandemic and that same year I pulled a profit of about $600k with no prior investing experience, basically all I was doing was seeking guidance from a financial-advisorr, you can be passively involved with the aid of a professional.

[@monerharris9430]

*"SOFIA ERAILDA SEMA".*

[@monerharris9430]

That's my licensed Financial advisor you can easily look her up, Thank me later!

[@KumaDormilon]

You're making money on gold?

[@Kilithaza]

Why are you asking for investment advice in youtube comments? Do you WANT to lose your money?

[@jessicatheriault4189]

Maybe it's the teacher in me, but I would love to see the rubric for the Hammer Financial Score. I think it would keep things more consistent.

[@kaylingalewitz]

Me too!!

[@Extreme_Gardening145]

I know he's said 10/10 is: A solid budget, no bad debt, a full emergency fund, on track to retire comfortably at 60, a house, and at least one rental property.

[@jessicatheriault4189]

@@Extreme_Gardening145 But how is each category weighted? That's all I need to know.

[@adamseidel9780]

@@jessicatheriault4189 I don’t think there is a hard rubric

[@jessicatheriault4189]

@Adam Seidel I don't think so, either. But I think it would better if there was one.

[@amanda2382]

My heart goes out for this guest so much. When he mentioned how his situation didn't feel crushing on a day to day... I feel like that's perfectly describing pure survival mode. When you've been in a tough situation so long and the solutions seem so impossible and far away, it's like your brain turns all your reactions down to protect you. It's hard to feel the crushing extremeness of how bad things really are (and obviously leads to so many problems and denial, but is 1000% understandable). You convince yourself everything is fine, and everything is bearable, when its not. I really hope he's doing well.

[@55inchSamsungTV]

This is definitely one of the most “intelligent” people you’ve had on here. You can tell just by the way he speaks and converses with Caleb. I’m so used to people not knowing what in the world he’s saying and not being able to accept anything. He actually seems aware and realistic. One of the best guests so far.

[@MRkriegs]

He didnt even know what interest was until 4 days before the show. Calm down

[@jearauz]

He was willing to own his mistakes. Money wise, it’s a different conversation, but at least he admitted his lack of knowledge in financial literacy. He tried to justify his debt due to his generosity. He seems like a honest guy, but he needs to start saying no.

[@Sickwitit18]

​@@MRkriegs probably the most mentally mature guest he's had

[@dallaswainman3395]

Honestly, kid made mistakes early on but I appreciate the honesty he has. No excuses, just straight up. Good luck in your future brother! Come back debt free!

[@jodeemackenzie]

He seems like he has the biggest heart! He is aware of his situation, and I really hope he gets his financial situation in order! I hope to see him doing well in the future.

[@beth3535]

Seems ready to learn. This experience will benefit him over time. He needs regular guidance and coaching.

[@Bamapride1985]

I've had friends in situations like this. They tried to stop paying for parent or grandparents bills while still living in the same house and then the family started making them pay "rent" for living there. The grandmother is providing him a home and even covering his health insurance so I see him definitely paying the washer and dryer since he is using it too. Lot cheaper than having to pay for everything if kicked out over a financial argument.

[@youngblisslife4308]

Yea...renting a washer and dryer is definitely bad financial advice especially since he lives with them and use it as well 😒. You can't compared that to a rental property. Especially if he rents it in case the tenants has their own and if they don't, he can add it to the rent. Terrible advice

[@elizabethlillmars520]

I was going to say the same thing. His grandparents raised him and have provided a free roof over his head. The least he can do is buy a washer/dryer … especially if he will be using it too for the foreseeable future

[@TheFlipSideStudio_]

I totally understand him in trying to help his grandparents. The aunts car insurance it’s a no for me. I mostly agree with everything but the grandparents bills he pays in an exchange to live with them.

[@lucasborio7459]

@@elizabethlillmars520 Well... yes and no... I mean, if you are living with your parents/grandparents and you can afford it, of course you should give back in some form (in this case, the dryer and maybe car insurance). The problem is when you are accumulating debt and they are spending money on stuff they dont really need and such.... at that point is not that ok. I do agree that that will likely be a tough conversation, and I would have told him something more on the side of "either increase your own income or stop paying for such and such". Because he might otherwise think he is bettering his own life "at the expense" of his family... while that is not really the case, it is something he might think, so the actual best way for him would likely be to earn more money, either by changing jobs or getting a second one or whatever it is he can do about it. And honestly, I still dont get why so many americans have no knowledge of personal finance. I am argentinian and I am not going to say we all know how to handle money or anything, but most people I know have at least enough of an idea to not have several loans and credit card debt and whatever else and still spend over their budget on overpriced junk food.... it might just be a cultural difference, but man, most guests here have at least finished colleage and still most dont seem to be able to add up how much doordash costs... I hope this does not offend anyone, because that is not my intention.

[@Beepbopboop19]

Agree!

[@rayna463]

Caleb this month is my last payment on my student loan debt, this channel has inspired me to kick it into fifth gear and pay it off. After this last payment, I plan to start investing in a high yield savings account 😇 I love this channel

[@BuckeyetheCat]

Wow that's awesome! Congratulations!

[@omotayosatuyi252]

Heck yeah !

[@theshittybowman]

Dope bro!!!

[@TinyT0ez]

In his defense I had no idea you could rent appliances either 😂

[@eliseg0001]

Same I thought it was only a college dorm type deal

[@stanleyhape8427]

?? You never seen a renta center???

[@andreamckenzie8598]

@@stanleyhape8427 I've heard of them but didn't know you could rent appliances from them. Thought they were for cars.

[@3namechangezalowdevry90day7]

Renting's a bad deal. I'd save and buy a basic model new washer or a used one.

[@hannujabella]

@@7eis rightt

[@jonchrzanowski725]

This guy is going to make it. I can feel it. I can only imagine how hard it must be to come on this show and admit you have no idea of finances to hundreds of thousands of people on the internet. Good for you, kid. You're on the right track.

[@cubiczirconiabeard5366]

he's 22, I don't know what you were like at 22, but I didn't have a clue.

[@charleneberkey1488]

Of course he doesn't feel like this is crushing him. He is doing better than his family members, he was never taught about finances and feels this is normal. I give him loads of credit for coming on the show and wanting to better his life and financial future! Breaking generational debt!!!

[@allisonisis]

Yes, big step coming on the show

[@erbiumfiber]

I feel sorry for this generation with so many options for credit cards/debit cards, etc. When I was young, in the dark ages, it was harder to get credit. When you pay for everything with cash, it is really hard to get into this kind of debt. I didn't have my first credit card until maybe age 24, after I had had a good job for two years. Paying cash for everything, well, when you run out of cash, you're not spending anything and you go hungry (literally). So, since you have no backup, you leave money in your account to hold you over until that next paycheck. Easy credit does a disservice to people like this who admits he doesn't even really understand interest/minimum payments and such.

[@jordsmc2362]

Really like this guy. He is honest and kind. I wish nothing but the best for him, I have a feeling he can turn this around.

[@hapa206]

he's a guy with a good heart. too many people taking advantage of him and his vulnerability. it's understandable to want to be generous, but hopefully he starts putting himself first now

[@TheJerry93]

Aren't they letting him live rent free? It's wrong in my opinion to act like they're taking advantage of him. Sure he stops paying their car insurance and now he has to pay rent and utilities.

[@jet4415]

Yeah the guy who borrowed did payback, but is the start of a scam. Then he’ll come and ask for a bigger amount and payback, then a bigger amount and not pay it back. It is a common play.

[@1xlina]

@@TheJerry93he is their grandchild, why would they not let him stay with them? I’m not from the US, so I don’t understand how in your society it’s normalised to charge kids/grandchildren rent or make leave the house as soon as they hit 18, but still

[@TheJerry93]

@Hello There The kid says they can't afford to pay for those things either. Rich families can let their kids bum at home for free until they're much older, but not everyone has that privilege.

[@Acklapa_14]

Once he said he also pays his Aunts car insurance i got the feeling that he could have a guilt trip being put on him.

[@krissyrific]

Bless this young man. And shame on Caleb for being mad at a young man - for helping his grandparents who took in a kid that wasn’t theirs. (Want to talk about doing things you aren’t personally responsible for)

[@dreamon990]

To be fair, if he’s living rent free paying for the appliances and car insurance isn’t that big of a deal. Just because he’s living rent free doesn’t mean he can’t contribute a small amount. He can save his mom’s money in a high yield savings account. Getting a 2nd or 3rd job would be the biggest advice. He’s not that bad off, but his family will hold him back.

[@jeffenatrix]

It's not a small amount. His bills are 86% of his take-home pay.

[@aileenonvenus]

@@jeffenatrixseriously, they could come to an agreement where he pays the insurance in exchange for staying there, but acquiring that washer/dryer debt (for a family that has no problem indebting themselves with eating out) AND paying another relatives insurance is too much of a burden

[@homeboi808]

The washer and car insurance for grandparents are “okay” in that he does that instead of rent. It’s not ok for his aunt’s insurance and bailing other people out.

[@edwinmattocks5709]

He isn’t an OTA/PTA he’s an Aide. An assistant has to go to school and make around 30/hour. Just don’t want anyone confused out there who wants to be a PTA!

[@kiraslager7802]

Thank you for this comment! I’m in pta school and I don’t want any to stir away from the profession

[@MS-rw1bo]

I know! He probably works with PTA/OTAs, so he knows he's lying about his job title and not needing schooling

[@wonny__d]

THANK YOU! I’ve been scrolling to see if anyone was going to mention this.

[@jdy89]

Harold, if you happen to see this, I hope you can break the cycle of poverty and poor spending in your family. It's easier said than done, very easy to stay in these enmeshed family situations. You're well spoken and honest, and I hope you find a way to your best financial future. It doesn't come easy, especially with family members who don't make the best choices. But you can do it with some hard work and sacrifice!

[@ScottySwans]

Caleb you have created an amazing series! I think it might be impactful for your talent if you totaled up their key spending in past statements, aka you spent X on eating out, X on bullcrap, etc. I think a lot of people hear you list out their purchases but dont realize how much theyre really spending if they dont budget.

[@claireh.7605]

Like in a computer game

[@eduardogutierrez3753]

Yall I literally started budgeting bcuz of Hammertime over here, emergency fund is growing. Have a few K in different investments, have a baseline in checkings of 3k, cut out tons of apps and recurring bills. Literally indirectly lit a fire under my ass lol thanks 👍😌

[@IRdatank]

I work as a financial advisor. My client in a compromised living situation (should have nearly zero eating out) said they spend X on silly expenses, which is a low number compared to their income. I did the math and reported their 15% spending habit. At their age, that was more than what they needed to invest for retirement.

[@3TXSisters]

Excellent idea! 👍

[@froggygamer1716]

I feel so bad for the people that are in a situation where you need to pay your families bills or see them end up on the street

[@luzarydistance4714]

As someone who is 22 years old it is hard to see where I could have been if I didn't have someone to hold me accountable for my money and how it could affect them and myself. Gladly, today I have over 5 grand in the savings and 2 grand in my deposit. Im working towards having 10 to 15 grand as a emergency fund and constantly putting money towards my future. I absolutely want to succeed and I am so grateful for Caleb for lighting that fire in me.

[@ImTheBatchMan]

Don't forget the time value of your money. Once you have your fully funded emergency fund, make sure you start investing, preferably into tax advantaged accounts like 401k and IRAs

[@luzarydistance4714]

@Kijestic Productions appreciate it, good luck to you too

[@luzarydistance4714]

@@ImTheBatchMan of course, I appreciate the advice 🙏

[@j_bubblez279]

Same

[@sailortristan]

You're in your best years for compound growth, keep up the great work!

[@lancethomas3310]

Caleb is going to have this kid homeless bc his grandparents could kick him out. He's in a tough spot.

[@mrsbsbudgets]

As a mother if all I could leave my child was £1000 I would want them to use it to better there life and there is no better way to start that then paying off debt. His mum would be proud his breaking the family cycle and learning to deal with his finances ❤

[@xkaxsky.69]

Started being financially literate this year because of this podcast. Helped me realize that I’m spending over 70% of my income on needs. Once I get out of my lease, I’m looking for a cheaper living situation. I’ve cut back on everything except my vacation plans. I made some bad drinking decisions and bought festival tickets I can’t get out of.

[@MoonStrike-pk8iw]

Most of my paycheck goes to needs (90%). I know it is a temporary situation (I'm still studying) but if it wasn't for this channel I would be far more in debt

[@omotayosatuyi252]

Damn man 70 percent

[@blackrosegoat5754]

Resell the tickets lol

[@FraserJopp]

​@@blackrosegoat5754and if you can't, then just don't go. You'll save the cost of travel, food and drink at festival prices, merch etc compared to staying at home and working. Beware the sink cost fallacy...

[@Steve-kj9tx]

@19:00 I disagree with Caleb... If they're supporting their 22 year old grandson who works a part time (almost) minimum wage job, I think it's fair for him to buy them a washer and drier,. It sucks he had to finance it, but I think it's the least he can do for the people who are supporting him FOR FREE years after becoming an adult

[@zikannoli]

No it’s not he’s 22 and he’s not even on his feet get a grip

[@thefunfam1433]

I agree with you. He’ll pay that off no problem then save up to move out. They are doing him a Favor at this point

[@Owowhatsthis0.0]

Idk what state your from but he's making more than double Texas mimumum wage (7.25) and in college.

[@nikeajah318]

Rent free No utilities free Health insurance free TBH the washer and dryer is not a bad split. Car insurance for aunt No but for grandparents I could see helping with cause she gotta get to work. Light bills and health insurance alone could be more than what he’s paying on car insurance.

[@pretzelstick320]

Yeah he’s in a good position. He’d needs to get out of his shitty 17.5 30 hour job tho

[@philwill0123]

​@@pretzelstick320he's far too comfortable with the cut hours. But if it's his only real job since school, he don't want to go into the job market. If nothing else, he needs a 40 HR job paying close to 20 bucks plus

[@nathandressler]

My only concern is if he stops subsidizing his grandparents and confronts them with a tough reality, would they kick him out in “retaliation”?

[@haywood4299]

Possibly, but the most likely thing to happen is that they just hold it over him and use it against him the next time they need money like they did with the washer. Family members can be the worst parasites because they love to pretend like your DNA profile obligates you to enable them.

[@Dre2Dee2]

100%. As soon as he cuts the money, he's useless to them Sad to say but this is how many families treat their own kids

[@tayyab0987]

@@Dre2Dee2 wouldn't it cost more for him to move out then cover the small fees his family are asking him $300 doesnt seem bad

[@riverdaletales8457]

I would 🤣. He living at my house at 20 rent free ? Fuck out here

[@allahbless2278]

​@@Dre2Dee2Hos is that not fair though? He should definitely be paying rent at that age so just putting the foot down and stop paying definitely isn't the way he should go about it

[@washingtonrider211]

Ngl this was the worst take that Caleb has had. He’s living there for free, he can help out around the house. That is way cheaper than rent.

[@philwill0123]

Maybe, but this guy is being suckered with everyones bills, and he has to grow a backbone. Basically saying I earn x, I'm paying out Y, I'm not paying aunts car insurance, and I'm in debt. He's coasting . He doesn't have to refuse to pay for anything, but there is no honesty about his debt and his situation to his grandparents.

[@elbino413]

Caleb should do a $300 a month grocery store break down to see what to get every week, I’m always so curious

[@mnb1988]

The secret is meal planning, I feed a family of 5 breakfast, lunch and dinner for $150 a week in a very expensive area (it was $90 a week before inflation). If you are planning on using ground beef get the big pack and use it for multiple meals, or get the big bag of potatoes and use those as a side for a couple of meals, plus they last for a few weeks in a pantry. Also rice is cheap and can be a filler to add volume to your meals for less, same with pasta. Frozen veggies tend to be less than fresh, avoid canned (if you can afford it) the nutrients leach out of them while they sit in that liquid. Get dry beans instead of canned and just soak them overnight before throwing them in a crockpot all day. If you get bone in skin on chicken thighs you save up to $2 a pound, plus you can use the bones to make homemade chicken broth. A whole precooked rotisserie chicken is cheap, you can use the meat and then the carcass can be used to make broth. I use my carrot peels, onions peels, broccoli stalks, cauliflower stalks, ends of the celery to make homemade veggie broth, don’t use anything starchy like corn or potatoes it will ruin the broth. Squash is also cheap and can be made like potatoes so it adds variety but not too much cost difference. Also for families with little ones making homemade baby food is cheaper, healthier and tastes better. It’s what I did for my 3. I did the math once and a butternut squash could make 14 portions for the same price as 2 portions of baby food butternut squash. It can take it even further by making your own bread and other baked goods. Making a loaf of bread at home costs less than $1, plus nothing beats fresh bread.

[@elbino413]

@@mnb1988 wow thank you so much! I appreciate you sharing that!

[@mnb1988]

@@elbino413 of course! It was a lesson I learned the hard way and then refined over the last couple of years. I have been sharing what we do with everyone I can on what has worked for us in the chance it helps someone else. I hope any of that can help you with your food budget.

[@ericthornberg9377]

Providing the guests with some super basic budget friendly recipes would go a long way, too

[@chachisadventures3378]

I feel for this dude. He seems like such a great guy, big heart. He’s trying to be better financially, he’s definitely gotta worry about himself more.

[@chrisr6828]

He lives there rent free so cant say I see anything wrong with getting a washer and dryer. What he shouldn't be doing is getting a 3k set. Can easily get a set for half that.

[@LeeyaMakesNoise]

This makes me so sad it’s definitely part of a cultural thing that holds so many us Black/Brown kids back. Generational financial dysfunction/disparities just means we all start like 10 steps behind and are asked to help our parents/grandparents with every step forward. And if you don’t you’re seen as selfish (if you’re a black woman bougie), money-obsessed, etc. he’s so hesitant because he knows that if he truly puts his foot down it will impact the home relationship because “family is supposed to support each other no matter what”. It’s so hard to watch your loved ones struggle and not give in to enabling bad financial behaviors, esp if you live with them.

[@ShamikaLMoore]

I've seen this several times on the show. A lot of families are either scraping by on assistance or all living together and borrowing money from whoever has it atm. It's a vicious cycle, and without education it just gets passed along.

[@rdesign28]

This is at least the 4th black/brown person I’ve seen with this exact issue

[@Dre2Dee2]

Yeah, and while you waste your best years supporting 2 generations older than you, youre broke when your 60, starting the cycle over again THE ONLY WINNING MOVE IS NOT TO PLAY!

[@kungfukennyaintnobodyprayi347]

Without education and better role models, nothing will change

[@woodside4life]

I feel that… The concept of generational wealth didn’t factor into my decision making until my early 30s.

[@fpl_bailey]

I disagree with him taking the washer & dryer if he leaves.... He's living rent free, the least he could do is buy and let them keep the washer & dryer as a thank you for not charging him rent.

[@WillmobilePlus]

True. He just should have bought used ones for a fraction of the price.

[@fpl_bailey]

@@WillmobilePlus I agree, used over new especially with machines but what's done is done.

[@christophersreef7644]

This guest is an ACTUAL GROWN UP! Literally taking responsibility and sounds like he really wants to change. So glad it’s not sum stupid yuppie who is more interested in being on YT than changing 💪

[@anthonytovar]

Caleb you need a t-shirt or neon sign that says "It was a unique month"

[@jamesb507]

I like this guy. He's obviously very early in his financial education, but saying mostly the right things for someone who is trying to learn and get better. Plus he took Caleb's beating without too many unrealistic excuses. I'm rooting for him!

[@turtleanton6539]

I think he will manage

[@sergiv5613]

His grandparents raised him and let him live rent free in their house, and you want him to take the washing machine and dryer with him when he moves out? Thats kinda messed up.

[@deadnamedex3180]

What exactly are parents meant too do should he have been in a foster system. How about we love and appreciate our parents and not pay for them.

[@HDReMaster]

@@deadnamedex3180 llool

[@sarahloohoo2312]

@@deadnamedex3180 It's not his parents it's his grandparents - who were under no obligation to step up and take custody, but they did. Am I saying he owes them something for the choice they made? Not at all, but I also don't think it's unreasonable for him to help out by purchasing a washer and dryer than he also benefits from since he's living rent free in their home.

[@deadnamedex3180]

@@sarahloohoo2312 They took responsibility Parenting and isn’t a transaction. Allowing the child too take responsibility while unable to take care of themselves is objectively wrong and is in fact unreasonable. If he could afford it, then it would be. My parents would be very disappointed if I took debt paying for family and house hold things I’m unable to afford. Especially if I was 22 living in the house rent free.

[@sarahloohoo2312]

@@deadnamedex3180 at least you have parents - he does not. And the guardians he does have are more financially illiterate that he is. So, I guess congrats for having responsible parents. Count your blessings instead of dictating “objective facts” for other families.

[@607AAG]

Sounds like there is ALOT more to the situation with his grandparents. I know he needs to take care of himself, but it sounds like they took care of him after something happened. That’s really tough to turn his back on.

[@csk1452]

Disagree about Caleb’s stance on the washing machine. The grandparents raised him. I’m glad Caleb brought up working another job though since he has the time.

[@douglasbaek4656]

Hey Caleb, just wanted to chime in since I work in the student loan space. With his income, if he enrolls in the new REPAYE repayment plan he wouldn’t be paying anything monthly or it will be pretty low (like a couple dollars maybe) since it’s based on 5% of his income minus the poverty income rate. In fact after 10 years if his remaining balance falls below 12k he will have his loan forgiven, on top of the fact while in this plan his student loan will not be getting interest. The only thing is he would have to verify his income every year. It’s not a well known fact how these repayment programs work and wanted to spread some awareness. Big fan and a fellow Austinite.

[@turnovertheleaf5505]

Washer is CHEAPER than RENT, FOOD & UTILITIES!!!!! He should be grateful that's all he paid for. He also uses it!

[@ithzelhernandez658]

I really hope this kid can break this curse of generational debt! This knowledge is his first step

[@thisnamepwnsyours]

I think he means a physical/occupational therapy aide. A physical therapist assistant (PTA) and occupational therapist assistant (COTA) are separate licensed positions with associates degrees. I make significantly more than $18 an hour as a licensed PTA.

[@brittanymartin9546]

This case is EXACTLY what it looks like when parents force their children to be morally responsible for the parents bad planning. He's exactly what Caleb talks about when he says if you don't plan for your retirement, you're forcing your kids to care for you. But it gets worse. You set the people who need to care for you up for failure by not helping yourself and by not teaching them money.

[@dylgotbyl]

I understand why he helps pay for some of the grandparents bills because he lives there rent free. The aunt, definitly not

[@dakotatester3189]

So they’re giving him free rent in exchange for car insurance and laundry machines? I feel like Caleb is overreacting here?

[@andyholstein237]

As bad as his finances are, the degree to which cost of living has outpaced growth in salary is horrific.

[@MrPbaydari]

It is pure insanity. We really need some labor laws for America.

[@PreciousRuby817]

The washer and dryer is his contribution to the house since he doesn't pay rent. I don't see how renting a few months would have been any less expensive.

[@scottjane4814]

Ease up on the grandparents dude. Clearly this guy has had some unfortunate circumstances leading up to now which you're not taking into consideration. Yes it's not his responsibility to pay for their insurance etc but it's also not their problem to house him technically. Personally I feel you've taken the wrong approach on this one. Love your videos either way!d

[@thefunfam1433]

Yes Caleb is flat out Wrong in this situation

[@KallieKitas]

I really like Harold. He took responsibility and didn't make any excuses around his situation. I really felt for him regarding the $1000 and that being so sentimental and not wanting to touch it. He is such a sweet guy and has a heart of gold. I hope he can see the potential that he can have to build a life bigger than what he ever imagined and believe in his ability to do so. I'd love to see a follow up with him. We are rooting for you Harold - take one step at a time. Remind yourself why this is important for you and for your future. Believe in yourself. You got this.

[@iceicebabys]

He doesn't find the situation crushing because the credit cards and no rent are enabling a carefree lifestyle. Reality will only hit once he is consistently living within his means and sees how little wiggleroom he has when credit isn't an option. Since he has free rent, I don't think him paying for a washer dryer is so unfair.

[@Fire_Phix]

Like I get Caleb saying that this guy shouldn’t be paying for his family members stuff, but he’s also telling the guy to use his families groceries and to keep living in his families house rent free?

[@thefunfam1433]

Caleb is cheap that’s why

[@razz4taz]

Now wait a min. If he's not paying rent to his grandparents, he can buy a washer and dryer. I also assume he eats their food and puts no money towards that.

[@mrboyd720]

I think helping out his grandparents who don’t charge him rent is reasonable. He could easily get a second job.

[@burymeinjhenny918]

Exactly

[@bryanrt79]

100%

[@hapa206]

so amazing to see your growth on this channel, caleb! you worked on your branding and it is paying off. very rewarding to witness :)

[@CalebHammer]

Thank you!!

[@CharlesMata80]

As someone who can relate to this situation I think the advise you gave is a bit off. You basically said , fu** your grandparents, eat their groceries and stay in their house rent free. Their could’ve been deeper ties or a deal to the car insurance and washing machine situation. This isn’t the first time I see you overlook specific family dynamics or situations and I think that’s something worth looking into before granting advice

[@lenadong7848]

As someone who lived with relatives for years instead of being raised with parents, I completely understand how he feels about helping his grandparents out. I never had to financially assist my aunt, but if she ever need a loan or need help paying something off, I would definitely help her even if that means I’m going to be in a bad place financially. My aunt didn’t have to raise me but did so anyway with love, it’s hard to say no to someone like that.

[@curlyfryzzz1]

I wonder if he could get certified. A certified occupational therapy assistant makes from 29-56 an hour in Houston (according to Indeed)

[@jacob_mcm]

Really rooting for this guy. He's incredibly likeable. As a CPA, I think he should definitely go into accounting. It's such a high demand field right now that can help set himself up for financial success.

[@andrewpayette621]

He appears to have a sense of moral obligation to help his grandparents financially, because they raised him. This is honorable but it's not smart financially or helpful in the parents' long-term. Take care of yourself before others. There's that oxygen bag on an airplane analogy: Put yours on before anyone else's, including your children. You may be able to put it on one, but you won't be able to help anyone else, including yourself, if you pass out.

[@thefunfam1433]

No bad analogy this is he should save himself and screw I’ve the people who raised him? He’s an adult he Should contribute

[@youngblisslife4308]

I don't want to make assumptions but sometimes I feel like the advice his gives comes from privilege and is unrealistic to many families especially (POC) who may have multi generations within a household. The last episode I watched, the girl was a immigrant doctor and her parents paid for her education but expected her to help out her little brother who was now in college (I'm assuming) in the states. I personally don't think that's a big ask when someone is paying your students loans. Giving your little brother money as needed while in college for over 100k in student loan debt sounds reasonable. Same with this situation...he's living rent free with his grandparents. Using their utilities and water and the WASHER AND DRYER that's in their house hooked up the their electric and water. I don't think it's a good tradeoff to tell the people who is taking care of a ADULT, "take the washer and dryer with you when you leave" that's probably only estimated at under 5k for 0 in rent and household contribution cost. I think you are giving him advice that will cost him more in the aftermath.

[@zanneizzo8113]

He is fortunate to not pay rent. I think the washer and dryer were a purchase for his grandparents to help them since they are helping him. His eating out is lazy and inexcusable for his situation. His bills come first! Their debt should not be his.

[@expergefaction4637]

This one was hard to listen to at times. I totally understand where Caleb is coming from on this one, but I really feel for the position this guy is in. He is living with his grandparents for free. In some ways him helping pay insurance and washer/dryer is like rent. I guess it would be to readjust what the money is going towards. I don't think it's fair to justify him living rent free with low food costs based on his grandparents who are also in financial crisis while not helping out with things... Very difficult situation this guy is in.

[@taylorpestana1809]

My favorite thing about Caleb’s channel is how actionable the advice and information is. So helpful to better anyone’s situation. So much content is “inspiring” with no real substance these days, not here!

[@CalebHammer]

You're the best!

[@Iwasjustwondering89]

It’s rough seeing this young man struggle. From the way he speaks, he seems smart, humble and willing to make changes. It’s just so incredibly hard to claw yourself out of generational poverty, especially in the capitalist hell-hole that is the USA. I think Caleb struggled to give useful advice, too. In poor communities, everybody is fully reliant on everyone else‘s support. Telling this guy he shouldn’t have paid for the washer and dryer is, mathematically correct as it may be, simply not a logical thing to do when all his life he’s been supported by his grandparents. In poverty, if you cut ties with your community, you’ve hot nothing. This guy is a great example of the fact that things need to change on a structural level.

[@SwimSweetie100]

Caleb, you’re being completely unreasonable. His grandparents are letting him live RENT FREE. The least he can do is help with a washing machine bill

[@trotskiftw]

Honestly, I love Caleb's financial advice, but hate his personal advice. This dude is living rent free, allowing his grandparents to keep the washer/dryer as a gift for everything they have done for him is a perfectly reasonable thing to want to do, even in his situation. Should he have financed it in the first place? No. But he's already in the hole now, the only reasonable alternative with the same outcome of wanting to give a gift would have been renting while saving for one, bought it and still gave it as a gift. Would that money be better spent financially bettering himself? Absolutely from purely a financial POV - but it's definitely not making or breaking his financial health.

[@PresentingReality]

You stopped me from writing a comment. I couldn't agree with you more on the washing machine gift. He's a great person and grandson.

[@thefunfam1433]

Caleb is cheap he seems like the type to go out to eat and “ save” money on the tip

[@lupe8519]

This guys a good dude. If he’s 22 and not paying rent then maybe that’s how they’re using him to cover their bills. Just needs to understand you can’t help someone who doesn’t want to help themselves. You got this bro 🤝

[@calebcharles9074]

I just want to say since finding this channel I'm saving 50% of all my checks something I didn't really think was possible I cancelled all my subscriptions and meal prep and my life feels so much more in control. Paying down the debt to almost zero will be worth it all.

[@welcmasher2471]

I am loving this upload frequency thanks Caleb. Hyped you up to my brother and now he's hooked on your content too. 1 mil before the end of 2023 let's gooo 💪

[@jonathanbrutt]

Right!? He's one of the only people I watch at a minimum 3 times a week on upload day and I still find time to watch old uploads.

[@myaharvey296]

As the child of someone who lost parents at a young age, I’ve seen how devastating that is. My heart goes out to him

[@bee42Sad]

He should use a small amount if his moms money and buy something sentimental ex. A photo of them framed or a photo turned into a water colour painting. That was he has something tangible from the money she left.

[@berri6015]

Caleb, don’t you think if he says he’s no longer paying for their insurance, washer/dryer etc, they’re gonna ask him to start paying rent??

[@bluenotesoul]

You need a spinoff channel that’s a cooking show for people on the $300 Hammer grocery budget

[@life_of_laurel8602]

Caleb, I volunteer for this!!! I feed a family of 6 on an average of $400 monthly it's not so hard after you learn to shop smart, plan ahead and eat at home...

[@thefunfam1433]

It’s a pretty high budget for One person

[@stampinprn]

I think that since he lives rent free he probably feels that paying the car insurance and the washing machine are his way of contributing to the household since he is an adult living rent free in their house.

[@JayseabeeSTL]

The spending $30 per DoorDash order at MCDONALDS was so infuriating for me. If you’re gonna DoorDash at least do it on something worthwhile, lmao! $30 at McDonald’s if you just went there yourself could get you literally 20 McChickens! That’s enough food for like 4 days if you ate nothing but McChickens for breakfast, lunch, and dinner! The wastefulness makes me so angry.

[@DeadLkeMe]

It's not wastefulness per se (except of his money) but definitely overpriced. He didn't actually buy 40 McChickens, he probably bought 2 McChickens and then plus delivery, plus convenience, plus driver tip, plus whatever other BS fee they add on.

[@JayseabeeSTL]

@@DeadLkeMe no yeah, I know he didn’t buy 20 McChickens, lol, I was just using that as an example of how much he was overpaying by using DoorDash.

[@Maddikayable]

What a really nice guy. He’s my favorite guest so far. I really hope he is able to make it out of this. Rooting for you! ❤

[@AFFTFOMSICHTS]

I can’t imagine mooching off of my 22 yr old nephew that has such a low income. She should be ashamed of herself.

[@zikannoli]

So sad

[@andrewpye]

Caleb needs to ask every person if they understand how interest works. The breakthrough moment of this guy admitting that he didn’t understand all that was huge. Love this guy’s attitude and honesty throughout. I don’t see him cutting off his family in any way though