Quits His Job Every 6 Months And Wonders Why He Can’t Afford To Live | Financial Audit

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[@orlandorodriguez2275]

After watching Caleb I opened up a sofi saving account and a tmoney savings account, organized my 401k, managed my IRA and invested in stocks. Also Avoided succumbing to life style inflation, and paid off 3k in debt. Thank you Caleb. I've also been meal prepping !

[@Gigi30107]

Standing ovation.

[@joancampbell7995]

Werk

[@PrimericanIdol]

Fuck paying debt. Let it fall off your credit instead. 😅😂

[@celticsfaninthedesert4778]

If it’s true give yourself more credit

[@NinjaKiller117]

Tmoney?

[@Gabriel-wr6wp]

Only 7 months as firefighter and he already has the most important thing for the job: that 80's *orn star mustache. I 100% believe this guy has found his true calling.

[@JavaDoodles]

I want Caleb to audit my life choices but also I am scared of the squeaky voice 😂

[@cesaravegah3787]

That is one of his superpowers, clean your act or you will hear nagging you even on your dreams

[@Judep4237]

7:03 Caleb nearly shattered his fish tank today

[@eaponte98]

🤣

[@kellytodd7060]

Im scared of taquitos being yelled at me

[@Freegrem]

​@@Judep4237Holy sh*t lol i didnt get what you meant for a second

[@darbydeford6270]

Officially out of credit card debt as of TODAY. Thank you to the best channel on KZbin ❤❤❤

[@Lisa-vb3gn]

Congratulations 🎉

[@AldWitch]

Congratulations

[@katiebrazil2305]

That’s great, way to go!! 🎉

[@catdragon1313]

Congrats!! 🎉

[@mannys9130]

Congratulations. It feels so amazing, doesn't it? You're gonna be elated every time you get notifications from Experian and Credit Karma that your score has gone up each month. :)

[@lifeafter2396]

This was a good realistic audit! Normal job,normal child situation where child care is ridiculous and can tell he wants to be in a better situation for his family.

[@matttimm452]

Very true! I was waiting to see one with kids. I have 3 and my wife and I are deciding how to handle childcare. We are so blessed that she is a lead at the center so we only spend $1000 a month for all three kids but she has to work full time.

[@johnfish8394]

Normal is not switching jobs every 6 months.

[@pinkandjewels]

It's a lot more normal than you think, especially if you're young 🤷🏽‍♀️​@@johnfish8394

[@eliseg0001]

The max age for firefighters to start at many DFW depts is 35 so he got in just in time! Hopefully he sticks with it and can collect his pension

[@jaimemendoza7403]

Why is max age 35? seems kind of young

[@erikeulenstein8710]

@@jaimemendoza7403 I believe it is because of the physical requirements.

[@jaimemendoza7403]

@@erikeulenstein8710 doesn’t seem like 35 is too steep of a decline if you’re fit, just surprising

[@Natalie_11188]

@@jaimemendoza7403because they want people to be able to have a full career before they physically are unable to do the job. If the latest you can join is 35, you can put in 20yrs and be done at 55 and be eligible for a pension.

[@eliseg0001]

@@Natalie_11188 this!

[@zbrlvr]

I can't handle people saying 1500sqft is a small home for 2 adults and an infant. My fam had 2 adults and 5 kids in a 900sqft home growing up. 1500sqft is like a mansion in my mind 😂

[@AnonYmous-UserNotFound]

100% agree with this. Just posted a separate comment that my neighbours have 4 adults living in 742 sq ft (no yard either).

[@orphansparrow2]

My house is 825 sf and there are 4 of us. We have a nice yard though. I don’t think it’s too small.

[@annipsy2185]

Privilaged people

[@sethsha7826]

I completely agree. Sadly, in america everyone buys mcmansions now. I love my 620 Sq ft apartment.

[@Joce123]

​@@AnonYmous-UserNotFoundIt depends on the floorplan

[@alanmccarthy4004]

I really like this guy. There's a kindness and softness about him that has me rooting for him more than any other guest. I also believe he may actually change his ways. A one-year follow up episode would be awesome. If you're reading this guy, I wish you the best!

[@haxguy0]

I agree. Glad to see some good will towards people under scrutiny on this show. God bless you!

[@keirmenace4881]

He's married chief, he's no gonna fuck you

[@lifeasrini]

Yeah, same. He's a really likeable dude, helping the community and trying his best. I'd love to hear in the future that they pulled it together 💐❣️

[@Hashdollars]

@@lifeasrinilawyers help the community too He does his job for a paycheck

[@lifeasrini]

@@Hashdollars Me: I like this dude You: but what about this other thing that wasn't mentioned and has no context whatsoever ... WHAT?

[@HobbySlob]

Even as someone with no bad debts. I still really appreciate this content. It's incredibly humbling and helps me avoid complacency. Thank you so much for the great work you do Caleb, and I hope that all your guests get to the place they'd like to get. Keep it up.

[@AvocadoDiscipline]

Investing in yourself is one of the best decisions you can make. Check my bio how

[@larryzan8942]

how do u have no debt am guessing u not american

[@lifeasrini]

​@@larryzan8942they said no BAD debt. Debt is a way of the world, but bad debt is crushing and will destroy your future. A good example is the house in this episode - it is a good debt because it's low interest and raises your wealth over time, even though it is the biggest debt you'll ever have in your life.

[@melissaford8807]

​@@larryzan8942it's possible, my only debt is my house 🤷

[@johnmorgan6242]

DON'T SELL THE HOUSE!! I bet they are back in debt within a year after selling. Its the only positive thing they have going....

[@Shealynne7]

100% they need to do it the long way to see how much it takes to chip away with extra work.

[@giantpune]

I was thinking the same thing. They need to look at selling everything inside the house. Sell the wife's car. Sell the TV. Don't sell the house until there's nothing else left in it thats worth anything.

[@ketevandolidze9296]

Why wouldn’t he suggest they take a heloc instead of selling the house!!! This is absolutely madness 😢😂

[@coreym4979]

They're never getting that new buyer option again. They could rent it out especially if they live in the city

[@realiangarcia]

There is zero chance of him giving up the house because she wants another kid. 33 and the clock is ticking. Caleb said “Maybe your next house is one you can grow into.” But the reality is, there is no more growing if they hit the pause button for 5 years. More than likely, she will have another kid in

[@amandadelage8295]

I say enjoy the 1 you have a small family !

[@adamseidel9780]

Not impossible at all, just one that involves him working more than 50 hours for a few years. That's the cost of his meandering career journey.

[@brittneyharmon6647]

@@amandadelage8295I really don’t understand why people don’t think 1 child is enough. It’s financially beneficial and the child gets all the attention plus resources to succeed.

[@Sellbow]

That's a good point, maybe it comes down to greed. Because you want to

[@Alexis-ec9cl]

I agree I think people are obsessed with the idea of giving their kid a sibling. That’s overrated. If you can’t afford one what makes you think you’ll have time and resources for another? I know a couple only children. For the most part- they turn out JUST fine. Sometimes they complain they never had siblings which they didn’t like but also they love the independence and attention. Keep them around school friends and cousins and they’ll be okay and you’ll have more money in the bank. One and done!

[@rebeccahubbard3817]

If we dont get merch that says "Why possibly?" I'm going to have to order DoorDash daily to cope.

[@lotroholic]

😂

[@dkayok]

Agree!

[@praga2734]

I understand it won’t get nearly as many views as absolute train wrecks, but it would be cool if Caleb audited more average people occasionally. like hammer scale 4-5s. So the whole episode isn’t just about crawling out of debt. Although I love how much he’s helping people who are in debt!

[@chasetiemeyer1056]

This show shows what is average….

[@Patriot-nz5lz]

Agree

[@jaydubya9265]

4-5 is above average. And boring lol

[@chesspwn7457]

People scoring that high don't feel they need financial help/advice. They're comfortable and thus aren't looking to improve so why submit to an audit? Only perks that feel they need help reach out

[@DnZnFO]

@@chesspwn7457I disagree. There’s always ways to improve. Hearing a success story or learning how to invest would be great

[@ryanstevens2722]

Also, Josh was one of the best guests ever on this show. Best wishes to him and his family.

[@lindajohnson.]

He is prepared, some come to the show and just guess. He seems to really want to fix his situation.😊

[@binkaboi8087]

i also realized this when you could see the reality hitting him. but he didn’t make excuses and took the advice on the chin

[@nycdan95]

Yea but that mustache has to go lol

[@NadiaSeesIt]

​@@nycdan95no way, its classic handsome

[@binkaboi8087]

@@nycdan95 bold of you to comment on someones appearance when your prof pic is a google image of a cityscape

[@svaclapp]

This channel has made me take a hard look at my finances and truly add up and realize how much money I WASTE on absolute BS which does not further my life in any way. It was shocking honestly. And embarrassing. And I realized that I need to delete Instagram because I am comparing my life to influencers and trying to live rich like them, when I am actually quite poor and only making myself poorer by trying to live outside my means.

[@katjones4840]

Dude same. 😮 this channel is fantastic for me. Fast food is a huge money waste for me

[@voldemortsniece3019]

Wife of a firefighter here, just some advice. Make sure to take care of yourself/mental health and take time away from the fire house. Sometimes that overtime is not worth the mental load you are exposed to on shift. Especially it seems like you are going to make a career out of this. It will take a toll on you and your relationship with you family. I’ve seen too many firefighters quite literally get burnt out with working on too many shifts and their world falls apart 😢

[@battrayal23]

Scary thing about selling the house and wiping the debt is that they will just run it back up again… they have shown no ability to live within a budget so this is even more risky

[@Chances29]

+1 the house is a great investment and the best thing for their child. The house is a small part of the problem.

[@lifeasrini]

You can't assume that, having a child changes people a lot. If they'd done it again after having a child, id 100% agree with you, but this is their chance.

[@katjones4840]

100%

[@paintmytoespink]

I was thinking the same

[@townbidnez510]

Child care is crazy. Blessed to have my mom and inlaws willing to help out.

[@margolane3361]

I never thought the subject of personal finances could be engaging while also being informative, thanks Caleb.

[@LifeBindeR222]

That house size is more than enough for a family of four... Why does everyone in the US need a massive house with tons of empty space to spare and pay more, I don't get it. The houses in the US on average are already 30% larger than Europe and people act like it's not enough...

[@rebeccashields9626]

Yeah that annoyed me. We live in a 1600 square foot house for a family of 4, and we have a whole spare bedroom we don’t even use! The kids play in it sometimes and it is there in case we ever have an overnight guest. What are people doing with their house that they need so much extra space?

[@normagarcia3570]

I live in 1200 sqft apartment. It’s enough room.

[@superblump87]

​@@normagarcia3570for 4 people?

[@lilcrabbybabby]

My 3 adult roommates and I live in a 1700 square foot townhome, and I feel very comfortable. I grew up in a 1000 square foot ranch home, so any extra space feels like a mansion to me 😂 Especially if you are working, you don't spend that much time at home anyway!

[@CatfishBradley]

We have a bunch of space, and we like to use it lmao. Bigger rooms, bigger houses, bigger yards, bigger roads for bigger trucks, that's how we get down.

[@thecolorjune]

He sounds like a classic ADHD story: unable to keep still and focused on a job, hopping from place to place, until he finally gets a job exciting/intense/engaging enough to keep him there. Here’s hoping he succeeds now!

[@Quirkney]

This is a good point even if it's not an ADHD story in the clinical sense. Some people need more extreme variety each day to thrive just as much some people do best not leaving the home daily and working online.

[@SuperbChicken]

I have ADHD and i can keep a job more than 6 months. This is someone actually striving to find something they love, not just something that pays the bills.

[@thecolorjune]

@@SuperbChicken I have ADHD too, and everyone’s experience is different. I know that some people with ADHD (especially when it’s undiagnosed and not understood) will continue to work jobs that cannot maintain their interest and will cause cycles or burnout. It’s very common for people with ADHD to struggle to sustain an interest in the long term, especially if it’s a boring job etc. The brain needs stimulation.

[@ltsFears]

Disagree. He kept following his heart. Sadly he lied to himself for too long about being able to be an office worker.

[@karadanvers6136]

I have adhd and I can relate to his story of job switching to find something exciting.

[@jillgott6567]

Respects to anyone who goes on the show. Putting their personal info out for the public to see and comment on. Also for being a Firefighter/EMT. Childcare is a huge expense.

[@katiebrazil2305]

6:24 This mindset is so easy to get stuck in! Hardly anyone thinks their spending is *that bad* but they don’t track what they’re spending or budget what they should be spending - then BOOM - monster debt! 5 months ago these videos helped me realize I was the problem, and now I’ve paid off my car and $10K in stupid debt. Still more to go, but at least there’s a plan! Thanks Caleb!

[@quixomega]

Congrats, I'm glad you realized before it was a major issue.

[@Refiningforge]

How’d you do it?

[@katiebrazil2305]

@@Refiningforge most importantly, we made a budget and then we stopped spending money on anything other than our bills/needs, then put everything left over into paying down debt using the snowball method. Once we started paying off the smaller debts, it freed up the money that was going to monthly minimums - then we could start paying even more aggressively. Then any extra money that came in (tax return, PtO pay out, small bonus) goes right into the debt. Hoping to be debt free by December🤞

[@katiebrazil2305]

@@quixomega thanks man!

[@Refiningforge]

@@katiebrazil2305 thanks for explaining! sounds sustainable. Keep up the good work on your way to financial freedom. On my way to doing the same!

[@FirinMahLazer1]

Maaannn my heart kept sinking every time that green chunk in the pie chart got smaller and smaller. I hope they can clear some of that debt out quickly. They'll be in a much better place.

[@noahquiles5791]

Moral of the story: Life gets STUPID complicated if you don’t get a joint bank account when you get married. 😅😅😅 Hearing him explain all their Venmo and Zelle transfers gave me a brain aneurysm.

[@Biancahuntwhitten]

I don’t disagree but my husband and I are separate and something that works for us was for us to sit down and lay out all the bills, compare our incomes and make an agreement on what was fair. The only venmoing is bc he prefers to pay a little every week of his mortgage contribution instead once each month. It doesn’t have to be complicated. I think if the couple is open about everything and can approach their finances with love and fairness, it can work.

[@dragon123tt9]

Also venmo is like 1% fee for every transfer

[@maryjambor3677]

It is such a red flag that they haven't combined their finances yet. Like, she has a handful of "small" debts and he has several "large" debts - they should be working together to pay off both of them rather than going it alone and freaking Venmo'ing each other money for health insurance.

[@nakiviaallen642]

Yeah i thought that was pretty insane myself

[@CoveringFish]

Some people just aren’t taught

[@aaronqueen55]

He knocked up some chick and they decided to get married cuz of it. It won’t last long. Yet, he said they wanted a bigger house a second child. Lmao! He’s delusional.

[@bahwickee]

I think it is petty AF to make your spouse reimburse you for health insurance. This is nuts. These people are NOT married. Legally they might be, but they are so separated they might as well live separately.

[@lisamarielund6292]

My husband and I have kept separate accounts for decades. It works very well for us. Not every couple needs to combine their finances.

[@zeepapi11]

It’s refreshing to have someone on the show that actually gives a damn about their situation

[@haxguy0]

Seriously what's that about

[@SacredZephyr]

My dude, he's hurting me as being a fellow economist. Like studying the trending of money and banking and he's in a huge hole. My little heart.

[@edwardfischer3944]

Did he say Texas A and M university ? Does he want his money back ?

[@Dan16673]

Depends of econ typ and most is econ metrics instead of the implication of mans means to achieve his ends

[@gidgetgetscrafty]

​@@Dan16673Right, all the economics classes I've taken were on the economy level not personal finance level.

[@Youre-Welcome]

My econ degree did have some finance requirements, but that's not always the case. Additionally, you can lead a horse to water...

[@keirmenace4881]

😂😂😂 Like a morbidly obese cardiologist

[@caseyleirer9677]

Caleb, I think you should change you KZbin profile picture. It isn’t bad, but I think one at your desk with your mic would help people put it together that you’re the financial audit guy. That’s how we usually see you, and definitely is your element.

[@brendanalder8293]

This is such a great episode as it feels far more normal and real than some of the guests we see on here. I can see myself a lot on this man trying to do the best and support his family. Hopefully all goes well for him

[@BigPhilly15]

Since watching the channel I’ve twice emptied my Amazon cart rather than placing the orders. Baby steps.

[@Viva_La_Vargas]

I was in the same spot recently brother. Me and my wife paid off $138k in 18 months. Sold everything we had, worked a billion jobs, quit using debt, lived on a budget, etc. you’ve got this. But you and your wife HAVE to be on the same page financially. No more separate bank stuff man. It doesn’t work long term like that.

[@bdajazzfan]

Finally someone I feel knows the severity of his situation, listened to your advice, limited excuses and I feel he will listen to what you said. 🎉🎉

[@evanchisamorejohnston5819]

“I don’t go outside” Love that Caleb

[@thalinacrystalsalinas6553]

Maybe a solution could be bringing in a room mate/ or a couple as room mates (adult sibling or parent) (people they trust) that can help them with cover a portion on their mortgage. They could put more towards their debt and not need to sell their home yet ? Just a thought

[@poorogue]

Or even a live in nanny that gets free rent for child care... Trade shelter for services. That's what I'm about to do.

[@januaryriches3991]

If grandma/grandpa or aunt or other family could help raise baby it would save sooo much money and be so much better for the baby💔

[@cuttingback]

Hope he sees this

[@lifeasrini]

​@@poorogueI did that for years in my 20s 😊 I was even paid to travel, and ended up being very well paid as a live-out Nanny due to all the experience. If you've got room in your house, a Nanny is a VERY good idea.

[@taylor9645]

Another great video, Caleb! I hope he finally sticks with a job and can benefit from public service loan forgiveness. That’s what I have as a teacher, and it makes such a huge difference for truly thankless jobs.

[@jakeleisure8326]

Idk if being a teacher or a cop is thankless. Cops get paid great for their education level and people always talk about how great teachers are and how they should be paid more

[@taylor9645]

@@jakeleisure8326 well looks like I should move locations 😂 both are very thankless in my area

[@oohlookatthatdoggo]

@@jakeleisure8326but..they arent paid more.

[@CrystalKat]

Idk why everyone thinks they need a bigger house. We built a 1700 sq ft house for a family of 4 and it’s perfect for utilities, maintenance, taxes are lower and easy to keep clean. Spend your money on other things and don’t be house broke.

[@dieseldaveee3724]

Alright nevermind the debt and the dicey career direction and everything else, but them not being able to reach a consensus on something as banal as which bank to use is more red flags than a CCCP parade. How do we plan on resolving which funds to invest in? Where the kid is gonna go to school? You know, things that actually matter....

[@TheVoiceofTheProphetElizer]

Lord bless our firefighters! When he says "lately its been often" in reference to overtime - I can tell you, I've seen more car accidents alone in the last month than I can remember seeing in a long time up here in DFW.

[@Quirkney]

That's an interesting point, and kinda an odd thing to have the average shift by much. Do you have any personal theories? Like people new to the area, crowded, dinking and driving, average age increasing, bad training, etc?

[@RoseWater20]

It’s becoming over crowded. We have so many more people here in dfw. We have 5 lane highways and still bumper to bumper.

[@Tracker5111]

Need more police on the roads because people are driving worse and worse.

[@TheVoiceofTheProphetElizer]

@@Quirkney We're certainly crowded and it doesn't seem to be slowing down, to echo what Lorin said. And Tracker is spot on too, people seem to just be driving worse. I don't even remember it being this bad in 2021 or 2022. I'll give you a few examples, in the last 30 days, I've had a cousin smashed in at an intersection, my dad was rear-ended in his work vehicle, I got slammed into by a guy who blew past a four way stop at a busy intersection this past Wednesday. I looked out the window where I worked a few minutes ago and a car at the intersection had bottomed out and seems to have destroyed his undercarriage on a section of road that elevates quickly after a dip just a moment ago. I've tried to mitigate it in my own life (we see what that got me last Wednesday) by leaving around 4:30 AM to go to work just to avoid others. If I have the unfortunate timing to have someone fly up behind me - usually pre-5 AM of all times - they often times ride my bumper to the point I turn off and let them go on because I don't want to deal with it. I'm sorry, is everyone in DFW a top-tier neurosurgeon needing to get to the hospital to save the President? They certainly drive like it. I'd also say its too easy to get a license, but of course, that will only negatively impact people that care and try to do the right thing. After my wreck Wednesday morning, while waiting for the tow truck, all but two or three of the 10 to 12 cars that passed through that flashing four way stop on Davis Blvd actually stopped. Everyone else just flew right through it like it wasn't even there. I say all that to say its a combination of a lot of different factors, but the sheer volume of people here only serves to compound the negatives.

[@glowing_rectangle]

DFW drivers are homicidal maniacs. My least favorite part about living here

[@JoseFlores-xh5cj]

As a 32yr old male, I'm excited to see this audit. As a Finance BBA Bro, it hurts to see someone of your clan not reap what they sow

[@jakeleisure8326]

He's an econ major. And I rest my case 😂

[@ClaireAyers]

@@jakeleisure8326😫🤣

[@xPRIMExNITROx]

Caleb not knowing about Cabela’s blew my mind

[@BasedPeanutButterEnjoyer]

This man has never seen the sun

[@stevensaleh6955]

Good for him for finding his true calling career wise. Kept grinding. Hope he stays put and can get his finances figured out (I'm early in the vid).

[@crabmansteve6844]

I grew up with two adults and two siblings in a 800sqft single wide trailer. 1500 is MORE than enough for his needs.

[@chgr4674]

I think it’s absolutely astonishing that it’s even possible to switch so quickly between careers. In Germany it takes at least 3 years to work for the police either doing a bachelor at one of their own academys or an apprenticeship.

[@MrSteelermaniac]

I know so many Firefighters that have their own businesses to supplement their income. My neighbor is one who has a pool business and makes an additional $ 100k a year on top of his salary from the city.

[@jighflaukst]

I knew Josh a while back, he used to go to my gym, Super nice guy. I never expected to see him on Caleb's channel! Good to see you, Josh!

[@rahulshirahatti5084]

CALEBBB - I always listen to ur videos on my hour long commutes. Makes it bearable 😂

[@CalebHammer]

Drive safe!

[@obietek]

Really trying to clean up my own mess and watching your videos helps me stay focused... lol

[@daniellelemay2696]

I think it’s a good idea to consider therapy as a first responder. I am a nurse and had to perform CPR on my neighbor who was a firefighter with untreated PTSD. He commuted suicide in his garage. It was very traumatic for his wife and everyone who tried to save him that day.

[@VintageCameoPearls]

It’s Audit time! 🎉 that ‘stache instantly said firefighter 👨‍🚒 to me lol 😆

[@ABryan2010]

Yep came here to say this! Iykyk

[@aldyval]

My Monday just got exponentially better! Thanks Caleb! ❤

[@nathanrice7352]

Josh had a good attitude once he got past talking about spending. Definitely an intelligent guy who got himself in over his head. This is one of the few that I feel has a good shot at pulling things together.

[@jaynez9027]

Finally someone paying over $1000 in daycare a month. So rough! But the reality.

[@barnabusdoyle4930]

$236 a week for me. This is in one of the best cost of living cities in the country. Oklahoma City

[@slushpuppii]

currently at 1785 for daycare in CA, almost as much as rent

[@ZippyLikesZippers]

1300 in Nashville metro.

[@bahwickee]

600 a week for 2 kids 😢 it's so bad

[@warm_ham]

1440/month in NH for one kid - that's with a nannyshare with our neighbors because adequate childcare does not exist up here lmao

[@MrTransformers33]

Let’s make Caleb the number 1 KZbin finance audit guy out there.

[@chachabudgets]

Freaking love all these. I've found Budgeting is the hardest part for me. freaking family of 6 full time. We were 8 all summer. which episodes have audits for people with large families?

[@maxinoume]

Go on the show and we'll have one :)

[@shannonsampson3267]

I would like to see one too! I have 8 kids from 2-18yrs. All live at home.

[@shannonsampson3267]

@droiddevx03 Yes. 8. I have a small family compared to my peers. It's not strange to me.

[@sethsha7826]

Birth control might help?

[@its_jess4321]

28:44 my husband and I bought a starter home in summer 2019. Refi to below 4% in 2020. House is worth 100,010 more than what we paid but same problem- moving I’m looking at insane house prices. We’re currently expecting twins (planned baby but not twins lol) have planned for 2-3 kids- now reconfiguring to see how we stay in this home (3 bedrooms) and my privilege of “I WanT mOrE SpaCe” has shown and died down because we have the space, we don’t have the money to move (especially due to me cutting my hours for the kids). You HAVE TO MAKE smart decisions people.

[@sunshinerose2603]

7:05 When Caleb checked his watch I first assumed it was because he was already getting a heart rate alert from the spending stress 😅

[@aquanote2694]

Caleb, you have helped me and so many other with starting this business. You’re awesome

[@brandi1719]

Childcare costs are no joke. I recently had to switch my kiddos to somewhere else. The tuition for my 2 kiddos, grade schoolers, $1760 a month. More than our mortgage. I would stay at home, but I bring in more than what childcare costs, and if I don't work I lose my benefits, which I need. It's hard for so many families.

[@Lauren-yq3ds]

Yea it’s just crazy when it’s more than your mortgage.

[@gabrielleolivia1]

It’s always so interesting to me when married couples split bills like roommates. Not saying it’s wrong if that works for you. I just don’t get it. All of our finances are 100% integrated and everything is paid out of the same checking. We each have access to all the same accounts. Even the credit cards we have that still get used (ones prior to marriage) we ordered a separate card for each other and we can both use them. Though we only make certain purchases with credit cards. I feel like it’s so much simpler.

[@poorogue]

My finances were co-mingled with the ex wife and it made it absolutely impossible to save even a cent. Some people really shouldn't have access to the family account, as it can put the entire family in jeopardy. Not saying that's what is happening here, but it definitely would have saved me a lot of heartache to have split finances.

[@latashabrown1053]

@@wordsalad01they said their finances WERE co-mingled. They aren’t anymore.

[@poorogue]

@@wordsalad01 obviously before she was an ex wife lolol

[@gabrielleolivia1]

@@poorogue I’m so sorry it was that way! My biological dad was horrible about wasting money. My mom had to cash her paychecks and buy money orders to pay each of the bills just to make sure they got paid. They did end up divorced as well. I guess my perspective was more if if you have two responsible people in the marriage why divvy things up like roommates. Because of my mom’s experience I was always on high alert when it came to people’s spending habits and bad money management was a deal killer for me. Thankfully I married a finance guy and he’ got it well handled.

[@tonyahenry4167]

@@poorogueright some ppl are just bad with money

[@samhedges169]

So refreshing to have someone on who actually knows what they earn and what their expenses are 😂

[@Someonewitharealname]

47:17 The 10 year repayment plan calculates payments based on combined income for a couple. They could file separately next year and change to the income driven to keep monthly payments low which would allow for more to be forgiven. In the meantime, there are a bunch of other payment plans and he could pick the one with the lowest monthly payment. You can always change your payment type later

[@m.creekrenovations]

Man! He will find his way! It’s important to try out different jobs when your younger to know what you don’t want to do when your older!

[@wraithTAS]

Wow he even has the firefighter ‘stache.

[@christinaslate1865]

It’s a Texas thing unfortunately 😅

[@workinprogresssince1974]

He forgot to mention his wife and child until 15 minutes in? :/

[@Thomas-po4ex]

Just finished paying off 20k in private student loans this week. Thanks for the inspiration, Caleb. I only have 10k in federal student loans left to pay off. I am 24 years old now and graduated a year and a half ago. Been maxing out my IRA since graduating and have around 15k in there so far thanks to some market appreciation plus I have a 6-month emergency fund in high yield savings raking in some sweet 4%+ interest too. I have gotten my spending needs down to just under 55% of my take home pay. Just trying to avoid lifestyle creep from happening too quickly. The situation in this video is insane and definitely shows how quick and badly high interest rates will destroy you.

[@lindajohnson.]

I would keep the house at any cost. Houses and interest rates are ridiculous. Who knows if they will find a low rate again.

[@yokeo]

it makes zero sense to sell the house, caleb did the math wrong, he forgot to factor in the money he is already paying down on debts. it wouldnt take 23 years to pay it off makes no sense, sounds stupid even hearing it

[@thebowandbullet]

I'm not a fan of joint chequing accounts, personally, unless both partners are 100% on the same page about finances, are in a similar place financially, and are at no risk of splitting up.

[@orbweaving]

Thanks, Caleb for all your videos! Any time I am thinking of spending money before putting it towards my debt or emergency fund, I hear your voice and think if I really need the thing. I haven't spent more than $30 discretionary spending in 4 months, working 2 jobs & freelancing, and have almost completely paid off all my debt. Now onto my emergency fund! Watching all your audits really helps me stay on track - the advertising and habits of friends & family are so pervasive getting into peoples' heads, it's easy to get sidetracked if you don't have a clear goal and accountability. I appreciate the motivation to stay on track and ensure I can make my future goals happen

[@isisathena5237]

I would keep the house because who knows when interest rates will ever be that low again.

[@demontoaster5670]

In my opinion, a marriage will fail if you do not do finances together. Every decision involving money is a life decision- thus everyone needs to be involved.

[@Quirkney]

Agreed. The most seperation I can imagine going okay is putting all the income in a pool and after bills and savings.... And then "paying out" personal money to each person to use for hobbies/wants.

[@demontoaster5670]

@Quirkney That's very similar to what my husband and I do, and it has been pretty successful. Bills, debt, pets, groceries, savings, then fun money. Currently, we pay savings out after we get everything we need. However, as debt is knocked down, the payout to savings will be moved to the beginning of each pay period. Wanted to put that all down in case someone actually reads comments, and needs the simple advice!

[@zhenshan456]

it doesn't matter personal opinion on this. Each family have their own way of operation. Over 50% couples operating separately on financial in US and divorce rate is 45%. But this 45% is not coincidentally overlays with the 50% financial separation couple. In another word, there is no conclusive survey/statistical data?shows either way is helping the marriage.

[@christinaslate1865]

@@zhenshan456the divorce rate in 58 percent regardless of separate or combined finances …

[@DelgutCyber]

My wife and I just paid off 24K in student loan debt over the past 8 months (wiped away hers completely), maxed out my IRA for the year, and have a fully funded emergency fund. Happy to call ourselves smart credit card people.

[@dking1362]

Fantastic! So great to see people being responsible and understanding THEY have to create their future! Best wishes to you and your wife.

[@ceciliajohnson8812]

That's wonderful! Well done to you and your wife!! 🙌

[@DelgutCyber]

Thank you all!

[@cheyenne7982]

A 400K house at that income is just irresponsible. There's plenty of single family homes (3bed2ba) under 300K in many of the DFW suburbs. They could probably find something under 200K if they are willing to live a little further out. 189K 3bed3ba ennis, tx. They should check to see if they can port their mortgage or if it's assumable if they are going to buy a smaller home.

[@Piworld13]

yeah, the "profit" on selling the house goes to debt repayment not a down payment on a bigger place. Bigger then is more utilities and upkeep. So many fall into that financially. I hope they use logic and not just what a realtor advises.

[@DoctorSmartyPants]

Yeah the guest slipped that part about selling house and buying a 400k house. This means they are trying to do that, which is pretty stupid.

[@jtbravoo1]

I enjoyed this audit as it was one of the few with kids, that actually took the cost of child care into account. He seemed receptive and can hopefully recover. As someone who wants a second kid but can't afford it, simply do to child care(I don't have any debt besides mortgage) wish this guy and his family all the best

[@halfpeltalt]

I stopped eating Taquitos since watching Caleb...

[@bianconerointheus6692]

Can't afford the current living and still keeps talking about having a second baby. Agrees to sell the house and immediately talks about putting another down payment for another 450K USD house LOL. I'm actually not as optimistic as most of the people are here. He seems like a nice dude and I wish him and his wife the best. But he doesn't give me the impression of someone who's gonna follow the advice.

[@mattcusto]

I consider this the “soft white underbelly” of finance KZbin (the follow-ups are also the best on that channel too 😆)

[@BeeTimesTwo]

Omg this is the best comparison haha

[@Uwolz]

I’m 28 in live in pflugerville my wife and bought our first house that was 1300sqft. She had already had a child and it was enough room. Then the next house in 2018 we bought that is 2576 sqft and then we had my son. Now we sold that house and been in a rental and close on a new house at the end of the month for 3291 sqft in Hutto. No debt now and putting 18 percent down while saving. You have to start somewhere and scale up. Instant gratification has people mentally warped.

[@dcrules82]

I cannot understand how people can get approved for a house when they are under this much debt. How is their credit score not completely shot?

[@brandonsmith3434]

I feel like this episode especially paints a bleak picture about the financial pitfalls of parenthood. The combined income between him and his wife as well as a fairly reasonable mortgage should be enough to have and raise children but man those monthly childcare costs are brutal (at what sounds to be on the low end of other childcare options). I really feel for people who have been told their entire life that they can have children and everything will work out, not sure if this is true

[@fe3cf]

I mean it would be enough if they didn't have the debt payments they need to make

[@brandonsmith3434]

@@fe3cf Sure, although the student loan debt really is a paradox. I acknowledge that he likely doesn't need a degree to be a firefighter, but the normalization/expectation to attend a four year a degree has constrained a lot of people. Unless you make 6 figures, it's kind of like college, house, kid(s) (pick two if you're lucky and want to retire)

[@FirinMahLazer1]

You do realize he would be perfectly fine on that income if he didn't have $131k in debt right? This has absolutely nothing to do with having a kid.

[@rebeccashields9626]

Well if he didn’t have all the crazy student loan debts and credit card debts and car debts one of them could work part time, and if they stayed near family they could fill in the gaps. But it takes planning ahead and not spending money on random stuff. My kids have essentially never been to daycare. They are very close with their Grandma and Grandpa. But we drive old cars, got practical degrees at 22, don’t go out to eat, etc.

[@Torania87]

Thank you guests and Caleb for helping me know how to set up a budget and start paying off my debts. The credit cards are going well but I'm terrified of my student loan debt. 😅 That's the next beast to tackle but things are definitely going better than before. Next paycheck is the sofi savings! 😁

[@stayaway7357]

Best of luck to this man and his wife and their child. Really would love for them to kill that debt and comeback with a great update.

[@themagicbread94]

Am I missing something? Why on earth is a husband and wife sending Venmo back and forth?! I totally understand if you’re dating you cover your own expenses. Even if my wife and I didn’t have a joint account, it still wouldn’t make sense for us to send money back and forth to each other. Her expenses are mine, and my expenses are hers. So what’s the point of paying each other back for things? The only reason I can think of is if people are worried their marriage isn’t for life, they want to make sure they don’t get screwed. Otherwise, who the heck cares who’s money pays for what?

[@choreomaniac]

They need to sell both cars and buy one $5000 cash car. She can drive him to work since it’s only 10 times a month. They will free up $600 a month cash flow and reduce total debt by 40k. Now they can do an emergency fund in 3 months. And they can house hack and rent a room for one year at $600/month. That accelerates another year or two.

[@mch44777]

As a fellow firefighter/EMT, I was so excited to see this audit. It did not disappoint 😊

[@shawansworld]

This channel changed my perspective. I took a deep drive into my spending, started meal prepping, and put everything on autopay. Now I gotta check my 401k .Thanks Caleb!

[@henryhace]

I’m glad Caleb changed his mind on selling the home. There was really no hope with how high debt minimum monthly payments especially with student loans kicking in. Plus having 70k debt in non mortgage and non student loans those interest rates wayyyy to high

[@sambryant2150]

I don't know how your videos are so good

[@brittnay279]

This man’s ability to switch careers is insane! I have to give him credit on that.

[@pan5001]

Please can you make a video explaining what someone would need to have in order to score a perfect 10 on your scale? Thanks

[@maxinoume]

- Spending within the budget (meaning, spending 30% or less of the income, assuming no debt) - Emergency fund: fully funded 6 months emergency fund - Debt: none (I'm assuming he would deduct a point or two if you have a mortgage because, even though it is good debt, it is still debt) - Retirement: needs to have enough in investments that, at the current rate of savings, can sustain you through retirement (this would be a case by case because it depends on your target age and income at retirement) - Real estate: Paid off house

[@evietomlinson632]

​@@maxinoumeI kind of feel like he would say you should have rental properties. And he finances his rental properties, so I don't even think he would say they have to be paid in full.

[@maxinoume]

@@evietomlinson632 True. I can see Caleb saying that.

[@darkwatersunset]

This is a great episode showing how terrible and how quickly debt gets out of control and how easy you can drown yourself. Enough to get out of a fantastic mortgage

[@mkrowenp]

I'm about the same age and can understand some of the things he was talking about in the beginning about being in your twenties ... going to college and getting an office job because that's what we feel we're "supposed to do", and going in and out of situations that you're not sure are for you. It can be tough and hard when you realize all that time has gone by :\

[@BasedPhilosophyMom]

Same. Office jobs are soul crushing.

[@PolishedMobileDetailing503]

How early Caleb rose an octave told me this would be a good one.

[@Lillith.]

1500 square feet is "pretty small"? I translated it to m2 and it's almost 140m2. I don't even want a house that's over 100m2. Different parts of the world, different standards, different wishes.

[@christinaslate1865]

Right ? I grew up in 1400 square foot home and we were a family of 5 . Spent the summers riding bikes , swimming and going to parks . Nowadays everyone wants a big home , with a theater and a big kitchen , they don’t even cook in

[@AnonYmous-UserNotFound]

I’m a single person living happily in my 69m2 and I still have a second toilet and bedroom I barely use 😂

[@outdoorfr3ak]

The fact he's living department life and literally cooking breakfast lunch and dinner as a team makes his eating out habits even worse!!!

[@davidaizuss8481]

Mortgage loan officer here, they should see if they could qualify for a cash out refi to consolidate all the debt and if so, how much would that save/does that make sense. 26:43

[@MrSteelermaniac]

So they are going to refi at a higher interest rate? They are paying 3.2% now. How does that make sense? Thank you

[@davidaizuss8481]

39:54 if only other option is to sell, they are getting rid of that rate either way. Also, I would love him to keep that rate. However, while 6+ percent is worse than his current rate, all else being equal, much better to have a 6+% mortgage with zero credit card debt, auto loans, or personal loans than a 3% mortgage but you have all that crap.

[@DoctorSmartyPants]

However, cashing out refi, or just plain selling the house, will not change their spending behaviors! They will be back in the same boat..in a matter if time. Been there, done it!

[@TangoFoxtrotWhiskey]

Rather than do that why not take a home equity loan and not reset the rate to 6.5%+

[@ycoyle2803]

How much equity do you think they have at a $330k appraisal value if they owe $238k? Not enough to make that new interest rate you are selling work …lol. But good try.

[@michellevm4849]

Most relatable guest. Best show. More like this!

[@zacknelson8918]

Do not sell the house, renting sucks, owning a house helps on your tax returns, and if you want a larger house to live forever in, then keep the house and sell it to move into a new bogger house use the equity to pay down on the new house or debt in the future

[@crashtestdummy1972]

Caleb! Keep up the hope for him, this guy might benefit from doing Financial Peace. If they sell their home they still have the same behavior. I know they can clear all this debt if they do buckle down!

[@quentingeorge2832]

$60,000 annually before overtime pay which he’s working an additional 20+ hours every 2 week, turns into $3400 a month. The math aint mathin

[@justkimintheworld6298]

It could work. I took 25% away from $60k and that leaves $48k which is $4k a month. Minus possible 401k and health insurance $3400 is reasonable.

[@Daveyjonesvi]

I make 36 an hour 38 hours weekly and only take home 4k a month. No dependents but after taxes and retirement I only take home 1k a week

[@baconoftheark]

I assume he is calculating post tax income with the worse case scenario. Did he discuss his 401k and insurance premium from his pretax income? I always budget for my lowest paid month without additional OT. My field of work has OT possibilities, but it's a first come first served. We get paid OT daily since the shifts are 12 hours :). I just budget for my 84 hours/pay period.

[@quentingeorge2832]

@@justkimintheworld6298but by what he’s claiming he should be making at least an extra $1200 a month in overtime. And he never mentioned a 401k so still doesn’t make sense

[@enginerd8897]

Don’t forget deductions for pension, union dues, and post employment insurance. He also probably has a 457b rather than a 401k.