Taking Out 3 Stupid Car Loans With 25% Interest Rates While Having No Money | Financial Audit

▶The best budgeting program online, at the most affordable price: go.calebhammer...
▶My team and I will personally review your budget and put you on the right financial path going forward: go.calebhammer...
_______________________
▶Resources I use/would use (with discounts/sign-up bonuses):
1) Checking & Savings: Get up to 4.60% APY, pay no account fees, and earn up to $250 when you sign up and set up direct deposits. Terms apply: creator.sofi.c... *affiliate link
2) Start investing: Transfer to moomoo and receive up to $5,000 in Cash Rewards using my link Terms & Conditions Apply: j.us.moomoo.co...
-For the sign up bonus, Click this link to get up to 15 free stocks from moomoo U.S when you make a qualified deposit. Terms & Conditions Apply: j.moomoo.com/0...
3) Coursecareers: Get qualified for a better job and increase your income: coursecareers....
4) Mint Mobile: Cellphone bills are too expensive, use my link to find a plan starting as low as $15/month in just 15 minutes with my partner MintMobile: mintmobile.com...
5) Online security: Protect your online privacy and security NOW and for free by following my link Aura: aura.com/hammer
_______________________
▶Fun things:
1) Exclusive episodes, private Discord, BTS, and a special thank you: / calebhammer
2) Rules For Not Being A (bad word): www.calebhamme...
3) Merch: The most fun website: shop.calebhamm...
_______________________
▶My socials: linktr.ee/cale...
▶️ Want to be a guest on Financial Audit? We film weekdays in our studio in Austin, Texas (in person only)! To apply, visit: calebhammer.com...
_______________________
▶Sponsorship and business inquiries: [e-mail]
_______________________
These are some fun words: Caleb Hammer, financial audit, Graham Stephan, Dave Ramsey, Ramsey Show, George Kammel, Rich Dad Poor Dad, Podcast, Budgeting, Investing, Stock Trading, IRA, Roth IRA, 401k, health savings, HSA, 403b, college costs, student loans, debt, snowball, avalanche, pension, retirement, financial independence retire early.
_______________________
▶*Some of the links and other products that appear in this video are from companies for which Caleb Hammer will earn an affiliate commission or referral bonus. Some of the offers mentioned may no longer be available. This is not investment advice.
▶Sponsorship and business inquiries: [e-mail]

[@KerrieStarr]

This channel has helped me so much with my own finances. I can hear Caleb yell at me when I think about doing anything financially dumb

[@scottyglenwalker2345]

Straight up it has,I am 35 but spent the first 10 years in jail.managed to go to tradeschool for welding.Then I saved 30k 10k for the school loans 10k for emergency fund and 10k for investing.watching this show has lit a fire under my ass.

[@SofeeYAH]

literally 😆 has truly shifted my perspective so much

[@precious_toebeans]

Thanks to Mr. Hammer I've truly turned around the way I think about finances and ive been able to start saving even small amounts of money each month. Eternally grateful!

[@Aridoesnotexiist]

I hear him squeaky yell at me every time I get coffee bean 🥲

[@genxx2724]

@@Aridoesnotexiist Don’t do it. Make a pot of coffee at home.

[@bobstephens5599]

"I don't want to put miles on my car." My brother in Christ you are a literal mechanic. If anyone should be willing to put miles on their car it should be you.

[@lunaclassicmaxi9796]

brah thats crazy , i agree 100 percent

[@StoicS4m0r41]

For real. I ain't a mechanic at all but damn the prices got me learning how to do my own maintenance. Changing wheel bearing s and what not now 😂

[@luxboss2388]

🤣🤣🤣

[@tyrecewilliams3186]

“My brother in Christ”😂😂

[@Wannabegoodvideos]

I am a mechanic, and I buy the shittiest cars I can knowing I can keep it running for cheap.

[@jedrzejw.9819]

Buying a Tesla to save on gas sounds like buying a paper mill to save on kitchen towels

[@squished300ztt]

I love this analogy. It’s so hard to get people to understand how ridiculous it sounds to take on 60k of debt to save on gas each month.

[@sakidickerson]

Exactly. I know I'm broke so I bought a Nissan leaf. It's like 1/6th of the tesla cost lol ppl think it's Tesla or nothing

[@jmb9701]

Agreed. I own a Tesla model 3. I drive 200km round trip to work 4 days a week and paid cash for the car back when they held value. STILL a stupid decision that i weighed for 3 years and only pulled the trigger after getting 13% pay raise. These kids will be poor forever.

[@jaydubya9265]

Yep. Every time i try to justify it by saying I’m saving gas I remember the car payment and insurance is more than i spend on gas now

[@duerf5826]

I only ride Uber when I need my Tesla serviced (Tesla provided the free credit) and out of the 5 trips that I had so far, I was picked up by 3 Teslas. All those drivers told me that they bought the Tesla to save gas but now regret how much they have to pay for insurance, repair, and tires. And when these people make a third of what I make and drive the same car as I do, I bet my bottom dollar that they have little to no savings and are one or two paychecks away from having their car repoed.

[@LeoNepeta]

The dealership who let a 20 yo kid make a down payment on a 25% credit card is going to hell lol

[@hydraails]

Literally 🤣

[@christoferrage]

If you pay it right away before the due date it’s not a bad idea for cash back

[@janchucho]

All of them???? 😂

[@natebuiltit5158]

@@janchuchothat’s what I was gonna say 🤣 pretty much any pos car salesman would’ve gladly sold this kid the car. Shit most would’ve tried for something more expensive

[@EdgarGonzalez-ik5zz]

Most won't let you since they get hit with fees

[@TSones23]

I cracked up when he gave himself a 6 yet he considered car as an investment

[@TSones23]

Wow he has his defense guard on. I started saving at the age of 5, non advice from my parents. I’d say it’s either you are born with it or not.

[@roboticvenom1935]

​@@TSones23you aren't born with it it's all developmental and from early childhood parenting AND education. You are completely mistaken. Sorry buddy For the people who are born with special gifts they go on to ether change the world, reach high levels of government or corporations or burnout. These are individuals with high IQ's/creative geniuses. You are not one of them

[@richardlyman2961]

@@roboticvenom1935Who are you to say that. I agree his sentiment that he started saving at 5 because he was born with financial literacy is nonsense but I believe nature > nurture in most practical cases. Some people like the Asian gentleman in the video are just stupid from a young age while others like most of the viewers of this podcast have the intellect to grasp these concepts and plan ahead. And for all you know the person you replied to is gifted. I feel like I’m surrounded by monkeys in this comment section.

[@jamie6387]

100% agree with you. Although this mans arrogance is a character trait @@roboticvenom1935

[@raymanbb8274]

Cars can be a investment, very few are and the most cheapest affordable and profitable thing a lot of regular people can buy cheap sell higher or break even is a well kept known to be reliable trucks

[@alk672]

This dude is a legend. He's speed running the debt game, and at 22 years of age he's already a financial anti-Christ.

[@adriandurlej9266]

LOOOL debt speed run ez clap

[@Scott-got-caught]

Can you translate that for us millennial

[@turtleanton6539]

Goat😊

[@peacejoylove8542]

He started early lol I'm just glad he's getting help and guidance just as early

[@danielallison3540]

@@Scott-got-caughtspeed running is a term for playing a video game really fast in uncanny ways that makes you move and complete the game faster. So he's saying he's playing with his finances like a veteran playing a video game at obscene speeds except he's playing the credit card debt game 😂

[@JonB516]

“I live my life day by day” is the classic line for people in crippling debt that don’t want to face the consequences

[@raymondvaldez4101]

Classic exscuse

[@A1RLuis]

You a 100% right

[@lane1776]

Going to die with debt. Promise

[@feztheasian]

He should've said "I live my life a quarter mile at a time."

[@lazysundayz]

Otherwise known as YOLO BABY

[@camdenmounts1473]

Caleb, a suggestion. Perhaps if people don’t understand the gravity of a 25% interest rate, you could do the math and show them the difference of how much they will pay over the life of the loan versus what they might have paid if they had budgeted, saved and bought the item in cash.

[@rockerddm5822]

Yes I think it would be good to compute loan/credit payments of bigger amount per month on shorter term vs smaller amount on longer term. I used to not know that bec of interest I would be paying more for the longer term loan.

[@Rebel635csi]

100% agreed. That 10k at 25% with 72 month loan ends up being almost 20k paid back. I don’t think people realize just how crippling long term high interest debt is.

[@marianne9691]

Yes that would be great! I just realized that company's who hand out loans, are getting a money subscription out of the buyer. 🤯🤯🤯

[@maxinoume]

​@@Rebel635csiI think people see "25%" and assume that they'll only pay 2.5k interest on a 10k loan and they figure it's worth it to have the 10k toy right now. But they're not paying 25%, they're paying 25% PER YEAR.

[@citizensofthefreehold955]

Great suggestion. Some actuarial tables would be quite striking to these folks

[@xiong421]

Forget finances, I don't think I would trust him with fixing my car. If my car won't crank over, his diagnosis might be to replace the whole engine.

[@travaughnanderson3958]

Buy another car

[@BrandonDenny-we1rw]

And just think how many mechanics are just like him

[@cornbread4297]

@@BrandonDenny-we1rwI go to the school he went to and I gotta say it’s pretty scary

[@BrandonDenny-we1rw]

@@cornbread4297 Never been gladder to be able to work on my own older vehicles

[@FransceneJK98]

@@cornbread4297what do you mean by scary?? 😮

[@fattygamer94]

For those of you who may read this and don't understand how severe 25% interest rate is, 25% interest for 72 months means you're buying your car TWICE.

[@danielallison3540]

And after 72 months it will be worth 25% the original purchase price 💀💀💀

[@philv2529]

Actually, 25% APR will double in 3 years

[@fattygamer94]

@@philv2529 I don't understand your comment. At 25% interest rate for 72 months, whatever amount you finance, you're pretty much paying the same in interest. If you have a $10,000 car loan, you're paying over $9,000 in interest. If you have a $20,000 car loan, you're paying $19,000 of interest. So 25% interest for 72 months means you're buying your car twice.

[@philv2529]

@fattygamer94 compound interest doubles at 72% not 100%

[@LuisC202]

My God this kid is Cluless and hard headed. He is not listening to reason.

[@alexisballard1459]

Daniel: “I bought my mom a car” Caleb: “You took out DEBT for a car” Keeping it so real

[@onn8166]

That's like people that say they bought their spouse a car it's like uh no just because you are financing a car for them does not mean you bought it you're in debt and the car is neither of yours till its paid off

[@xeniaturpin6366]

To Caleb: before finding your videos I was almost in 100K debt ( with my car ) I sold it for $30,000. Bought a $5,000 car that gets me from point A to B without all the fancy gadgets. I’m currently less than $23,000 in debt from ALMOST $100,000. It’s SLOW but we are getting there. My motive ? I don’t to depend on my kids to survive when I’m older. THANK YOU

[@AlumniGamingStudio]

Keep it up! You got this 👌

[@kendrickpfaff4805]

keep it up!! ur really close

[@BeeinTX]

👏🏻👏🏻👏🏻👏🏻

[@BgirlCruz]

Absolutely amazing!!! Thanks for sharing.

[@IAmebAdger]

One day it will be gone, that day will be a happy day, keep it up!

[@connorrod6251]

This dude just smiles to the camera and proceeds to say the dumbest shit 😂

[@FransceneJK98]

He’s not taking any of this seriously. Laughing. It’s infuriating

[@sixhundorr1]

Bro, seriously. And he doesn't understand what he's saying is the stupidest shit..

[@012aaron]

@@FransceneJK98yeah i’m 17 and this dude dumb asl😭

[@jackreacher1784]

Lmfao

[@sethnordell717]

This guy actually thought having three cars is an investment. You’re kidding.

[@tp1357]

He's 22, and the older I get the more I believe that no one under 30 is even capable of having a coherent thought. This is great evidence for that position.

[@picadosinferno]

​@@tp1357true, at 22 I was the dumbest dude around, I mean still am, but way less.

[@shuheihisagi6689]

@@tp1357 No, some people are just morons and you can't fix them. I know several people who are the same age as this dude who have way better finances because the go to school for business or finance.

[@antonSugar]

He probably saw some sigma grindset page about buying cars and renting them on Turo or something 🤣

[@IndiaNumberOneCoubtry]

Cars are the most depreciative asset most people have. Great ‘investment’ strategy lol

[@stevensaleh6955]

He lost me stating that he needs a third car. And cars are NEVER investments unless maybe you're restoring a classic!

[@haleymist09]

Oh man, I love a shined up antique truck.

[@the_expidition427]

You would then have to get the vehicle appraised with collectors insurance on it in case someone ends up doing a dumb and crashes into it

[@vialenae]

He lost me when he said you save on gas. Like, yea sure, but when you are in that much debt, does it really matter?

[@icey2203]

Yea and at that point YOU BUY THE CAR OUTRIGHT.

[@lawfullucyless6715]

Even then you never get what you put in.

[@Cubes129]

His friend getting him on this show is the best thing he could ever do for him.

[@jadiecakes3241]

you just know this friend has tried to talk him out of the 3rd car too and this was his "im gonna make you wake up" try

[@TimBryan]

I think Caleb did a good job at dealing with the fact that this guy wasn’t a fan to begin with, most people who come on the show play along with Caleb so it’s nice to see that Caleb’s methods still work with a “hostile witness”.

[@adamzielinski2001]

Yeah but it’s too late for him. Unless he declares bankruptcy. But then the student loans…

[@okgroomer1966]

I don't think he gets it and is unlikely to change. He lacks common sense and that leads to a lifetime of bad choices.

[@grant9904]

Yall are pessimistic. His consumer debts are no where near as big of a whole as some of the worst people who go on these types of shows.

[@KNine36]

23:52 “alrigh” This man just said the most out of pocket and hilarious statement with a straight face and thats your response. Caleb had me rollin

[@cmc9823]

I was laughing out loud at work about this

[@AJ-raps]

Literally fell out my chair! I'm crying. That moment made the episode an instant classic 😂

[@SuperDarkmatter11]

i fucking shit my pants cause it came out of nowhere lmao

[@danielespinoza8614]

the fact that now its Caleb saying the out of pocket shit is hilarious

[@01man01truck]

I never seen a guy have so much trouble answering direct questions

[@AtomicDimension]

This literally drove me crazy

[@deltafox1]

I think he has a language barrier, and also might have brain development issues. He seems disconnected from reality

[@genxx2724]

@@deltafox1 It’s not a language barrier. He has no accent.

[@majestic2569]

​@@deltafox1its not a language barrier, is a generational barrier.

[@kristelbrok998]

​@@genxx2724well, he does have one. An american one 😂

[@Hardymovies]

You can tell it's going to be an interesting one when Caleb skips right past the introductions and dives into 'Uh dude what happened' right out of the gate

[@JakeTaylor1646]

You ain't kidding he just jumps right in!

[@JB-1996]

The fact that this kid is a mechanic and said that having a second (third) car is an investment because if one breaks down you have a backup… that makes me question his ability as a mechanic lol. My brother is a mechanic and not once did he have an issue putting miles on his car or fixing it. You have the tools both physically and mentally, that’s the most expensive part of car repairs is the labor dude, cmon.

[@Buxtonphil]

He’s still a child. I have a feeling this is the first time he’s been confronted outside of high school. You can see his childish body language and not fully accepting the gravity of his decisions

[@patrickgarcia2384]

He also said he went to UTI, which is like the McDonald’s of colleges/trade schools of mechanics in that their ads are very flashy and turn out low quality product

[@HeyUncleA]

@@patrickgarcia2384 uti is awesome IF you pay attention and do your best…. However if you lag or cheat your way through school then that’s on you. My buddy went to uti and makes over 300k a year working on heavy machinery for 9 months of the year. 300k for 9 months of work is not that bad for most.

[@ShannaFarley]

He bought a Ford Focus....

[@johnwilkins6871]

Probably a lube tech w no experience

[@Benefits]

This guy paid more for a toolbox than he paid for the car he's driving, and he didn't even know it.

[@LuisC202]

Matco and Snap on love this kind of guy 😂😂

[@Benefits]

@@LuisC202 You know the Snap On truck driver knows this guy's credit card number by heart.

[@LuisC202]

@@Benefits 🤣😂🤣

[@kirklandramsay3935]

He’s paying for that snap-on guys mortgage lol

[@allthatsheiz]

What kind of toolbox is this anyway?

[@desdill]

Wait, he’s a mechanic who is worried about his car breaking down and wants to have a backup for that….. I wouldn’t go to him

[@jojachow]

I'm sure he can do the repairs himself, but waiting for parts (especially Tesla) can take days and you still need a way to get to work during that time

[@hiteshadhikari]

@@jojachow m pretty sure he cant do shit on tesla, esp with the high voltage setup, it needs special training and equipment even if u have sparea

[@zigzag8162]

It's a lie and an internal rationalization he uses to find "reasons" to do things. Obviously he doesn't need 3 cars, he WANTS them

[@wtice4632]

I wouldnt trust this guy to bag my groceries much less fix my car.

[@AnimeBeefRandoms]

​@@jojachowif he's a mechanic the last thing he should buy is an EV. He should buy an old Camry that he can fix.

[@pastelsumimasen]

Caleb's response to being called "Mr. Hammer" was adorable 😂

[@brandtc.7991]

It really was and the best way to cool off the guest with that quick reply hahaha

[@gio.orbit5498]

that was too funny 😂😂

[@X34118]

I love how he tried to put his hand over his heart and fluttered his eyes. That fucking kled me bro

[@Capris9x]

lol but it sounds like it was meant as an insult.

[@deadapostle]

@ChrisEvil You hit the nail on the head.

[@UCDJeebus]

This guy is totally vacant, with his expressions and answers, lights on and no one home.

[@prissymegan5202]

@@Fstop313he’s a mouth breather

[@slugman4812]

This shit had me weak. Bros literally giving entirely different answers that share no correlation to the questions calebs asking

[@acgrwyzz]

dude is soft boiled at best

[@invictusaeternum]

The wheel turns, but the hamster is dead

[@Refiningforge]

💀

[@kotertsenn]

Dealerships be funny af with the 2 for 1 sale at 24% 😂

[@DylanCrowlGolf]

I know damn well the dealership salesman knew he was gonna have a field day with this kid💀 even hit him with the “2 for 1” deal

[@BelArtist]

I’m so thankful I had an experienced friend go with me through my first car purchase, otherwise I would have been financially wrecked 🫨

[@RisenCS]

​@BelArtist to me it sounds like buying a car in the US is fucked. Very overpriced and massive payments. Like do you not have the ability to see if you can get reasonable payments before you buy the car?

[@DylanCrowlGolf]

@@RisenCS most banks/credit unions will let you know what you can afford and what your payments will be, a lot of people are just too dumb to realize they can try and negotiate or are just not financially educated enough to realize they’re making terrible choices. There are unfortunately some dealers that will try to screw anyone over if it’s possible

[@RisenCS]

@@DylanCrowlGolf interesting then as to why so many people get so severely in debt. Surely there's cheaper cars available aswell

[@CSKefka]

yeah, 2 interest rates for 1 car

[@halibandy2875]

If mom can’t afford to buy the car from him before buying a house then there’s a good possibility she won’t be able to pay him after she buys the house.

[@Inzane8]

Probably going to hit her kid up for the house’s down payment. He’ll probably give it to her

[@karmatsering9539]

Latinas and Asians help out their parents. It’s normal and only strange to white folks

[@CSpottsGaming]

A whole bunch of people in these comments don't seem to understand how a mortgage works. When you're getting a mortgage they're so far in your business you can feel their elbows touching your cheeks. They look at *everything* and they watch it like hawks. A friend of mine sold his truck and bought another truck outright (in cash) and the bank almost revoked his mortgage because it happened right before the house changed hands. They saw a bunch of cash leave the account and panicked. She's obviously not well versed in personal finance herself but everyone here is acting like it's the payment that's the problem, rather than the reality which is that her having new debt would spook the bank.

[@nancylopez6980]

@@CSpottsGaming100%

[@gen1130]

​@@ludgeisatmcdonaldsrealistically we don't know how good she is with her finances. it makes sense to not want to get a car debt when you see trying to get a house mortgage. most fin advisors recommend exactly that. so maybe she will pay Jim back consistently and it won't be able issue. we don't know enough

[@SumayaHarare]

Caleb being caught off guard by being called Mr hammer was actually adorable 😂

[@ripchacotacos]

the fact that he was also trying to be sassy in that moment too 😂

[@GraceTheBabbler]

So cute!

[@kimjones1007]

Than the comeback later with, "ok Mr not dealing with what ifs." 😂

[@TheMoneysMaster2]

Mr Hammer can't anybody see he's belittling you by calling you Mr Hammer. Cmon

[@AFatOcelot]

It was a snyd and bitchy remark by the kid, Caleb took it with a lot more grace than I would e

[@ro25988]

This guy was weird. Kept ignoring questions to say irrelevant things or vaguely mention shit like “I’ve come a long way to be here.” Sounded straight passive-aggressive.

[@Nicks.2259]

Seem he has a massive ego, and also giving the host a attitude 🤦🏻‍♂️

[@atag512]

I read the guy like he is innocent until he said that comment..he also isn't interested in Caleb's advice..prob just wanted some fame from this great show...

[@brightonuprach]

I'm really sorry but isn't it obvious he's just an idiot? Like there's nothing deep about him. He's just clearly very dumb.

[@jjazxd]

The way he’s deflecting the questions, negating all responsibilities, and not thinking about the future…just seems like he’s still a kid at heart and what he needed was a good role model at home.

[@stadot1427]

​@@startingtech3900 it sounded like they are still together and dad is disabled.

[@stadot1427]

I think that would solve 95% of these cases. If parents only taught their kids "debt is bad, sacrifice and save for what you want" we would be in a much, much better place as a society. And don't @ me about good debt. For people this financially illiterate, there is no such thing.

[@poopinfruz9771]

He would make an amazing politician in canada

[@barnabusdoyle4930]

I’m going to guess she was playing the sympathy card to get him to take out the car loan for her. I can see her reasoning, if she’s trying to get a house then it would have helped her. It’s just that his credit is clearly garbage so she is paying way more in interest then if she got the loan herself. Difference in payment would be at least $100 from interest.

[@cole4987]

His mother doesn't seem to have everything under control if she needs to leach off of her own son. Sounds like he didn't have the best childhood, I feel bad for him.

[@codyziegler9388]

When he called your "Mr. Hammer" and pushed up his glasses I spit out my drink. This episode is hilarious.

[@francissaliba5108]

Props to Caleb for being patient. This dude got some mental issues and a maturity level of a 5 year old.

[@LuisC202]

10 grand for a tool box 😂😂😂

[@TheSlvrGR86]

@@LuisC202Yeah that’s how much professional tools cost. I worked for Porsche for a few years in high school, and the technicians’ tool boxes costed upwards of $15,000. Basic ones like his would be at least $5,000 for the most basic set. Full range box that has everything would be much more than $9,000.

[@alexcorsetti]

These types of people display a rare form of evil ignorance

[@turboZ3]

mental health issues ? lol the certified psychologists of youtube strike again

[@billyberner]

Right! All these weirdos who say that crap are just projecting their own issues. @@turboZ3 🤣

[@Gumption34]

This is a funny episode. Caleb is about to lose it a few times, then he realizes that the guy a) doesn’t watch the show so he didn’t sign up for the bullying and b) wasn’t properly financially educated so he has to bring himself back.

[@glocarrot2060]

I kept telling myself this😂 , after the fourth “but im doing better now”, I was about to lose it

[@Twoand86]

He's also obviously not an intelligent person at all, like I mean actually just dumb. Some of the people on the show make really dumb financial decisions but seem like well mannered intelligent people but this guy actually seems like he couldn't do well in a fifth grade spelling bee.

[@adamseidel9780]

Forget financially educated, this guy is just dumb. Interest rates are just basic algebra everyvody gets taught in middle school.

[@okgroomer1966]

The basics of financial literacy should be common sense. It's basic math that you should learn as a child. It shouldn't take a education to understand spending more than you make is bad, and interest equals extra money paid.

[@Twoand86]

@@okgroomer1966 haha, you agree with me

[@haleywelch4745]

Can we stop this ridiculous cycle of kids paying for parents things, I know he said that his mom pays him for the car but come on. Its the parents responsibility to their child to not burden the child for the parents poor choices.

[@CHARGER08RT]

💯 couldn't have said it better myself

[@p.shermanfortytwowallabyla9488]

And even if she wanted to buy a house.. tough nuggets.. you buy a car yourself and THEN buy a house when you're credit recovers. Don't tell the kids to put their futures on hold just so you can benefit

[@x_____________]

Exactly. Nothing wrong with spoiling your parents but wait until you're at least financially stable first.

[@juicycouturecollectionsam3473]

People have kids just to take advantage of them. They think kids are their retirement plan.

[@teeeteee000]

💯 Yes agree!

[@drdonley21]

I am really impressed with Caleb's ability to keep this guy on topic. So many questions were answered with a deflection or a non-answer. "So, the fact that you don't remember why you went into debt scares me. Why is that?" "So, um...I've like been doing better paying off the debt..." "...Yes, but why don't you remember WHY you went into debt in the first place?"

[@quantum3183]

The craziest thing to me is that Caleb actually cares about these peoples' well-being even after they prove ten times over that they aren't mature enough to care for themselves. This dude was a huge cock the entire time, deflecting constantly and not answering anything, just like you stated. But also, it's so blatantly obvious that this dude thinks he's smart and he's being a dick to someone trying to give him financial advice to pull him out of the MASSIVE hole that he was dumb enough to bury himself in. Also, I love when he asks people to rate their finances. If you're on this show, your finances are at an absolute maximum of 2/10. And this dude really said that he was 6/10, better than average. And this dude is thinking about buying a Tesla (which he's not qualified to work on, btw) when he can't even afford a 20 year old Honda Civic. It's mindboggling.

[@Struggle.Itself]

He's definitely used to just bullshitting people and them not wanting to deal with it so he's shocked when someone actually pushes him

[@fc7307]

I don't believe he will follow Caleb's budget. He has an excuse for everything.

[@Username0467]

@@Struggle.ItselfI truly think it's a comprehension issue for the majority of these questions.

[@Chances29]

@@fc7307I agree, he was deflecting every question and seems like he thinks he knows better than everyone anyway.

[@txkingg]

My dude is not all there, congrats on getting this far, he takes advantage of help for sure.

[@sobero]

Shout out to the man who brought us this content, the friend that nominated this guy and didn’t pay for it

[@copperlocks1]

😆🤣😂😂

[@daleyfun2247]

😂 so true lol this dude is crazy dumb

[@ohlalaparis1106]

Not a friend at all. At least send some videos so he knows Caleb’s personality ahead of time.

[@FUYouTubeCensors]

He sacrificed his friend for our entertainment

[@Voyajer.]

@@ohlalaparis1106 Not the friend's fault he didn't even peek at any of the videos on this channel.

[@ksreynosomoreno7036]

I appreciate Caleb’s patience. I like that he doesn’t edit out silence after he asks a question. That makes the show feel like we’re tuning in to a regular ole conversation.

[@courtneya2207]

The anxiety these vids give me with uncomfortable unedited conversations really helps with the effectiveness of them!!

[@courtneya2207]

Financial freedom a lot of times REQUIRES you to realize that it is uncomfortable to get to, that’s why I think so many of these people are so nonchalant - it’s much less stressful to ignore it

[@TheBovinated]

"My boss said might as well put a d**do on it cuz you're getting f**cked" has to be one of the best lines in financial audit history

[@VicAndVann]

Caleb just went "....okay" lmaooo

[@anarchodandyist]

And caleb didn’t flinch! (At the comment) 🍆

[@sunbelowtheclouds]

@@VicAndVann because the way he said it was corny. i almost cringed when he said that

[@sarahhebert4855]

How do people like this get jobs??? A driver's license??? This is so scary, he's barely conscious.

[@fugitive011]

My thoughts exactly 😅

[@drewlittell]

They’re not sending their best

[@adamcohen7642]

Caleb is doing a tremendous service, but the lack of financial literacy in this country is scandalous.

[@Jamesjsp132]

the amount of education and common sense is scandalous

[@unashamedly1776]

25 years ago that's a valid argument. But with the internet, and especially KZbin, there are sooooo many good sources of financial education if someone actually cared enough to look. It's not on society to make someone care about their life

[@Whiskey_Jane]

They could at least teach that in high school. Public schools in Canada are a joke, I can only imagine in us.

[@marcusmecale]

It was designed that way now its are job to try and catch up

[@unashamedly1776]

@@Whiskey_Jane It would be good if they taught it, I entirely agree, but parents do still have responsibilities. People need to stop relying on the government so much.

[@LadyStudios.]

My husband and I love watching your channel Caleb! My car got totaled back in December and my husband wanted us to start looking at cars since I wasn’t going to get a large payout. I HATE car dealerships and how they don’t genuinely care about what’s going on in your life. I told my husband I didn’t feel comfortable getting a 20k car with barely a down payment (the dealership wouldn’t show my anything in my price range or the cars I had found on their website) Waited a few weeks and shopped around and ended up working my weekends to bring in an extra 2k in just a couple weeks and was able to find a great reliable car with one owner who took really good care of it for only 5k, and NOT at a dealership. Was very proud of us not taking on debt just because an emergency happened!

[@cgw9168]

That’s awesome! You deserve every bit of your pride in what you accomplished. All the best to you!

[@XxhimynameiscynxX]

Congrats! Patience is key!

[@freespaceace1]

The amount of parents that see their kids as a retirement plan is astonishing.

[@Callimo]

It's a holdover from a lot of cultures. Back then, children WERE the only means of some sort of assumed elder care and support money. Now with decent senior living centers and actual retirement funds, folks are peeling away from that mindset. Although, there are those who come from generational poverty that still think that way (even though high yield savings funds are more accessible than in the past)

[@mdel310]

Classic immigrant scenario

[@jacobj3491]

What's wrong with that? They take care of you full-time for 18 years, you support them a bit for the last ~20 years of their life? Edit: after watching the video, I'm realizing the guy's parents aren't actually old enough to be needing his help yet. My comment still stands if your parents are 75+ though

[@Callimo]

@@jacobj3491 I mean, if you're in a great economical place and you truly want to, go for it. But kids never asked to be born, and parents are supposed to care for them. That's the bare minimum. It's not a good retirement strategy in the long run, especially since a lot of abusive toxic parents also expect this sort of care and will manipulate and bully their kid/s into supporting them.💁‍♂️ So, y'know, see it as a bonus, not a requirement.

[@qasim5279]

​@Callimo so would you rather you were never born or you'd rather be born and take care of your parents ?

[@Labergemusic]

"I try to live my life day by day" WTF man I'm gonna go make some payments on my credit card now.

[@thebosshouse]

This is worse than I expected, even with the Tums warning. If your mom won't get approved for a mortgage with the car debt, that's because she can't afford it! If you spent $10k on mechanic tools but need another car in case of breakdown, what are the tools even for? If you have to wait for parts, just take Ubers for a few days. That's much cheaper than maintaining a whole other car and saving on gas doesn't matter if you're paying another car loan. 🤦🏾‍♂️

[@janvalle8998]

The mortgage part makes Little sense. They don’t recommend taking a loan like 6 months before applying for a mortgage. They should’ve gotten a cheaper car though.

[@FearhandWinner]

He’s such a good mechanic that he wants a Tesla lol and someone is actually paying him $50k a year

[@tracy_cakkes]

Exactttllyyyy When he said a Tesla would save on gas I was like ur 30k in auto loan debt already dude It’s not saving u shit lol

[@donaldo7656]

Once I did the math on a Tesla and I figured that I’d have to drive over 500,000 miles just to break even on it. Not counting the cost to charge it.

[@NicESpurling]

Honestly, it’s not bad to have two vehicles if you’re working on them yourself, so you don’t end up having to rely on a rental until you can repair it, but they should both be cheap, you pay cash, you only insure one at a time, and you have to keep them both maintained to avoid having both down at the same time. In my case, I have a beater motorcycle as a back-up, and my van and motorcycle together cost me less than $10k.

[@hilarystorey4601]

I actually love that Caleb does not follow a strict structure at all, and responds to the individual each time. It’s also nice that the introduction to the video is a different person every time so I’m not getting sick of hearing the same person doing the exact same intro repeatedly cough cough, Graham Stefan I can already hear it in my head. “Welcome back to the Graham Stefan show.”

[@jeremygmail]

Dont worry you will hear it again when he reacts to this video at some point! :)

[@TeKnoVKNG23]

You mean the Graham Stephan react to Caleb Hammer show? LOL, I swear all Graham does anymore is mail in content reacting to other financial youtubers.

[@inwardpod]

@@TeKnoVKNG23he’s like 5’7, not a lot of space for good ideas to hide after a few years

[@somm_golfer]

@@TeKnoVKNG23 His videos seem to have gotten super low effort these days. Used to love his vids but I rarely watch them at all anymore.

[@larrybowers8323]

Unfortunately, Graham is a grifter and sold out for FTX. Even if the content was repetitive I would watch because I thought he was the person he liked to portray. Its a shame. But money (abundance) shows you who a person is deep down.

[@satsuki5279]

I admire Caleb's patience. I would have given up talking to people like him with just 10 minutes of conversation.

[@lindajohnson.]

Me, too.😊

[@THExKINGxKINGx]

@@lindajohnson.pos

[@TimBryan]

This kind of person is who needs the financial education the most, so it’s good to see that Caleb can help them too!

[@claudettes9697]

Three minutes in. 😑

[@peanutbutter5276]

He has such an attitude its crazy.

[@invictafilms2690]

Dude was grabbing onto any excuse possible without taking accountability.

[@theAncientGardens]

This is the first guest that I thought “he needs to be dismissed” within the first five minutes. “I’m here for help” and also “I think a third car is a great investment”

[@kerripatterson7117]

His attitude is making this video very hard to watch! I really want to reach through the screen and throttle this guy.

[@officerahmo]

I actually felt the opposite. I could tell that this wasn't Caleb's daily encounter with other people and was eager to see how it goes.

[@alexpietsch7997]

More than the not cannibal?

[@Dufud6]

@@lizzycarman601I don’t know if I he really set him up, this guy obviously needed a major wake up call, and if Caleb was able to get through to him then what his friend did for him is amazing.

[@bhines7901]

I knew he had debt but I didn't know the interest rate, he needed this wake-up call and I paid for the whole trip, lizzy

[@johnsnowwww]

This kid needs a lot of help, not just financially...

[@bigboicreme]

Agreed, he has some serious mental issues

[@daMillenialTrucker]

He's only 22. I'm 31 and I was just as will from 18 to 28 😂 10 years of drugs, alcohol, and bad decisions. I'm good now, I'm on one 💪😎💪 it's good he's seeking help though at a young age. You couldn't tell me shit when I was 22

[@ant805]

@@daMillenialTruckerproud of you for being honest and im glad you are in a better place

[@billyberner]

Nice projection btw. He'll be fine lol, he's twenty fucking two. @@bigboicreme

[@Madchris8828]

​@daMillenialTrucker good job. Alcohol is a really tough thing to beat. Glad to hear it. You also couldn't tell me anything at 22 either😂 can definitely relate to that story.

[@isiahe3841]

As a mechanic myself tool trucks like snap-on,matco, etc. Are the worst thing for a new mechanic. Take time to build up your tools and buy cheap used tools from pawn shops, yard sales, flea markets etc. They will take your paycheck and just diminish everything you work for

[@Eibarwoman]

There's plenty of better places to buy tools than those traveling tool trucks. My brother went to a automotive store for his toolbox and tools and those trucks are ripping mechanics off big time (like 8-10 times the premium). Edit: I asked my brother, the tool trucks (Cornwell, Snap-On, Matco) are even worse than I thought they were.

[@isiahe3841]

@Eibarwoman yupp they're terrible. There are plenty places to get tools without the premiums. Even harbor freight offers lifetime warranty on all hand tools. The trucks are the mechanic equivalent of the ice cream truck and birthday money as a child

[@Eibarwoman]

@@isiahe3841 I reckon it's all the fancy paint jobs on the toolboxes that is what those roving trucks have to offer. It's like the mechanic's version of Agent Provacateur lingerie where most people never get to see the fancy toolbox. Edit: Even the $250 fancy lingerie has more logic to me and neither makes financial sense.

[@freakymrq]

Harbor freight and wait for Milwaukee tools to go on sale at home Depot lol

[@spiritfluid1667]

Dont forget the flat rate warranty theft from the mechanic by the manufacturer 🎉

[@jasontoledo1295]

I don’t know if anyone has suggested this idea but you should do a segment interviewing people with really good financial standing for learning purposes and seeing the other side of financial audits!

[@Galworld761]

Or people that were a hot mess and straightened out and now on track.

[@ThePainkiller9995]

would be really boring honestly

[@dr.zoidberg5096]

That would be a dope idea. Most of the people on KZbin who are financially set just tell you to try harder lol

[@maxvelazquez3246]

“I don’t wanna put miles on my car” says the mechanic. I wouldn’t trust this dude to fix my car lmaooo

[@kirklandramsay3935]

Bro. It’s his investment

[@SuperDarkmatter11]

@@kirklandramsay3935 lmao

[@jacebabcock2526]

This guy should be a politician, avoided Caleb’s question everything single time about going into credit card debt in the first place 😂

[@c.johnson1789]

Pretty sure we have enough dumbass politicians.

[@kikiTHEalien]

May be his mom racked up the debt in his name. We've seen countless accounts of such occurrences in the show.

[@LukeCorbin]

Caleb, you need to use an interest calculator to show people how much these high interest rates are actually costing and them.

[@rita2506]

Yessss!!!! Like the actual “value”they’re paying over timr

[@genxx2724]

It’s right on the credit card statement every month.

[@saraashkir5793]

@@genxx2724I think they mean a table to show the difference of paying the debt early vs if they keep the minimum payments

[@evietomlinson632]

Agreed

[@dollawalla]

Yessssss!

[@hoodoooperator.5197]

It's criminal that banks and lenders can freely issue credit out to people of such low IQ.

[@coffeebean4356]

That’s how they get their money!

[@Skyberg21]

Lol the banks will not be profiting off this dude. He'll be bankrupt within the year.

[@Skyberg21]

And you're implying that banks should test people's IQs before giving out loans... I'm sure that would go over great politically.

[@mbentley06]

@@Skyberg21it should

[@ImCromatic]

I work as a loan officer, the amount of situations I see like this on a daily basis is so scary.

[@olive4093]

I’m 18 and loans and debt scares me so bad. I don’t know how so many people end up like this…

[@pepethefrog50]

@@olive4093 Oh don't worry, chances are you'll see soon enough.

[@olive4093]

@@pepethefrog50 Hell nah!! Don’t wish something like that on me😭

[@heliaagard4776]

@@pepethefrog50😭😭how encouraging 😂

[@tofailtowin9046]

@@pepethefrog50yup, was like him, now I’m 22 in 10k

[@andrewauret2628]

I am eighteen years old, I find these videos super entertaining and educational. I found the channel about a week ago and binged like 15 videos already and i feel like i’m learning so much. Thank you Caleb!

[@alexpietsch7997]

Welcome to Hammer Time! If I (27) could turn the clock back to 18 I'd open up a Roth IRA and contribute $100 a month. That may seem high now but as you get older and your income increases it'll get easier. That 100$ a month in the stock market equals a million dollars at retirement age of 65. That's on top of whatever other good money choices you make to enjoy either bigger or earlier dreams.

[@Thesakuraharona]

You are at the perfect age to be learning these lessons before taking out such debts. I wish you the best of luck with your future and wish you financial success

[@glocarrot2060]

Caleb has the patience of a saint, this young man still thinks and speaks like a high school student and takes on adult debts

[@Buxtonphil]

A credit card companies dream

[@barnabusdoyle4930]

This is the mindset of people who are looking at colleges and student loan debt. This is why colleges have no problem handing out garbage degrees, jacking up their prices and manipulate earnings after graduation numbers they give to the students. You should wait until you are in your low 20s to go to college because you are not in the mindset to be making these huge financial decisions at 18

[@okgroomer1966]

My son is 15 and does not carry himself like this kid. Education won't help this kid, he lacks common sense.

[@Jraptorr]

@@barnabusdoyle4930the student loans are like the only debt he has that isn’t horrible. Bro is 10k in debt on a toolbox making 50k a year.

[@GodHatesXbox]

Nah more like a junior high kid

[@steph8631]

Parents using their children's credit is straight up financial abuse and it's disgusting.

[@antpaste]

Unless they're building it up for their kid.

[@Treeclimbingexpert]

​@antpaste not what happened here.

[@antpaste]

@@Treeclimbingexpert right.

[@HaiRune]

My friends dad literally maxed out his credit card and just ghosted him on payments. That made me so angry when I found out about it

[@joemachine4714]

If you have to hide a car loan to get a mortgage, it demonstrates that you can't afford the mortgage. "Hide the car loan so we can buy a home that's higher than we can afford".

[@lindajohnson.]

There is no way she can buy a house. How could she pay the down payment, closing costs, inspections, and have plenty of cash for breakdowns.

[@nadineburford4977]

But also, won't the broker / whoever is financing her go through her bank statements, and see the payments coming out of her bank account anyway??

[@Annie_kb]

@@nadineburford4977 they should be. I’m in Aus but when I was getting a mortgage I was questioned about transfers to my Mum’s account. We shared a house and I was transferring to her for rent and bills.

[@tanyaholter3451]

As a parent, it kills me to see the financial abuse of his parents on this young man. Your kids shouldn't pay for your irresponsibility. I don't know how they sleep at night. I hope he listens to Caleb and breaks the cycle that his parents are perpetuating.

[@danielgriffiths5901]

You can tell he’s below average intelligence, which is fine (half of the population is), but what’s not fine is his mom destroying his financial life for gain, and abusing him and his trust in her

[@hawihawi9260]

With immigrated family which his seem to be, family is priority. He probably offered to do it rather than being abused. I commend him for that. Family is priority. But hopefully he can fix his debt.

[@peacejoylove8542]

I'm not even a parent and it breaks my heart.

[@jonarnold4373]

Chances are in this situation, neither him nor his parents see this situation as financial abuse, rather they probably see it as the son is taken care of his parents and is a role model child. Most families outside of America have this mindset that the parents raise the kids and then the kids take care of their parents when they get older. Americans are one of the few countries where the cultural norm is for the parents raise the child to be self-sufficient financially and in other parts of life and if their kid is doing well enough to take care of the parents when they're too old to take care of themselves than the kid can do that but isn't obligated to do so especially if they're not able to financially. In America you take care of yourself and your your children and your spouse you don't take care of your parents if they're able to if you don't take care of your spouse's family if they're able to.. sure, if your parents or your spouse's parents can't live on their own anymore and they can't afford to live somewhere else where they will be taken care of yes you let them live with you and help them out but you're not obligated to do that, it's just the preferable option to them being homeless.

[@CountingStars333]

Family comes first for some people, Many Asians, south asians take care of their family. Goes both ways.

[@jordandoyal426]

Love how he kept calling the show a podcast. Homeboy, this is a therapy session. 😂😂

[@mr.mushroomman8521]

This man might as well be a psychologist as well. Awesome content! Thank you! Appreciate your insight and sharing your wisdom with everyone so openly.

[@peacejoylove8542]

"I want to make sure you are financially safe and taken care of." Thank you Caleb for caring about this young man and looking out for him. Giving major side eye to the mother. I hope she's able to buy the car from her son after getting her house to eventually pass down to him once its paid off

[@chrise3859]

Caleb did a great job altering his reactions and the way he spoke to this guy as his financial literacy may have been the lowest ive seen on this channel. Not everyone can maintain this patience and control especially when you know this stuff cold...nice job.

[@FranticKtulu]

Absolute Gigachad uploading on a holiday weekend . Keep it up Caleb

[@sarasayshi]

Let’s be real. He is not going to ask his mom to take over the car loan by putting it in her name. And shame on her using her son that way. I have a 21 yr old son and I would never ask him to take out a loan for me “so I can buy a house”.

[@criticalt3]

Yeah that's just straight up emotional manipulation. Poor fella

[@aaykay4060]

I’d bet his mom has terrible credit and that’s all bs about wanting to buy a house.

[@lindzriddb]

My husband was home from work today so we listened to this while I worked (I work from home) and we had some good discussions during the video. He completely redid our budget/ money spreadsheet while we listened and even added lines at the end to show our ratio of income to needs, and income to savings each month! Love these videos so much. They are definitely a motivator in so many ways!

[@sistergray977]

You have a pretty cool relationship. Ngtl.❤

[@lindzriddb]

@@sistergray977 Thank you! It honestly took A LOT of work for us to talk about money, but once we figured it out it's been easy and almost fun!

[@reesedog918]

I’m a Volvo tech. My guy could’ve bought his mom a s60 for $500-$1kwith a broken timing belt and fixed it for a $2k. All in for @$3k. Volvo makes an all electric xc40 that he can get with a discount.

[@criticalt3]

He bought a car with known transmission issues so I don't think he's that smart with cars just yet.

[@aaykay4060]

But he didn’t have the time and was clearly in a hurry.

[@ot_aidennn8653]

This is what I’m saying I’m convinced he has mental issues this is wild

[@philwill0123]

Wouldn't be surprised if the housing "predicament" is because he found a high price shiny flat and left his previous place and broke his lease without permission. This guy is punchable.

[@nickmeyer208]

Caleb has so much patience. I would have told this kid to GTFO by 2 minutes in when he said "another car wouldn't hurt" after already saying he's in collections.

[@diegoelizarraras5909]

It not role models he lacks it common fucking sense😂😂 like 22 years old and he’s got the mentality of a 16 year old. Thing that got me is that he’s a car guy but has no sense on cars.

[@waffle3632]

I forgot about that, holy shit

[@stonwall9065]

Let that be a testament to how lost he is. He needs someone like Caleb. Whether or not he listens, that’s on him.

[@forapply4583]

he was patient because of the mr.hammer

[@inaweber7140]

I think he is like a lot of young people really uneducated about finances because" you got money you don't talk about "

[@galil_6863]

Option 1: Buying a used car and pay 1K per YEAR in repairs. Option 2: Buying a new car and pay 1K per MONTH in car payments and interest. Why do people always choose the second option?

[@SageSeekerNKY]

I get so tired of seeing parents relying on their kids for finances. Don't know how they fall for this. Get the mom on here!!

[@GameOn71213]

Ok so let me explain quick when I was you her my parents were very poor both working two jobs my poor dad was always exhausted, we use to borrow money from loan sharks who treated us like dirt, so my mom got this idea that if I make one big loan at the bank on my name, they could use that money to pay all the loan sharks and be rid of them, which is exactly what we did, even tho tho the loan was in my name my mom was handing me the cash back, we eventually got rid of the loan sharks, my uncle who's wealthy said I should be careful of having loans on my name at the credit bereau, but he was wealthy my parents were not, I'm now 34 all those loans were paid up my credit score looks good, and recently my mom was having a conversation with someone from our church, and my mom was explaining how she would do anything for her kids cause we are the reason why she's no longer in debt, and she recalled all the times me and my siblings provided in the house, and she said even tho my kids are grown i will bend over backwards to help them when they need me, now it all makes sense, my mom is helping my sister so much with her wedding, and whenever I call mom and ask her for money she just gives without asking questions, my parents and I have come along way.

[@hanspz5505]

@@GameOn71213’m glad she paid you back and you all got out of that situation 👌 but putting car finance on your sons name is just irresponsible as hell. Your situation needed it

[@christineleifer5102]

@@GameOn71213why couldn't your adult uncle help his bro/sis? And it really is 98% of the time the kid gets screwed. My husband's ex had the daughter paying for her phone on her plan & then she's call her son asking for $, saying she needed help covering her phone bill 😮. The kids don't talk to each other & she plays them hard -- emotionally & financially. 😢

[@GameOn71213]

@@christineleifer5102 because we're a big family of like over 47 cousins and my uncle has been involved with helping everyone, besides it wasn't his duty to help with simple day to day stuff how else were we gonna learn

[@stadot1427]

​@@GameOn71213 honestly, your parents seem like rare gems, loving and determined to learn and improve, but they did take a big risk with your identity and there was something of luck in their ability to pay that back (they didn't die, become severely disabled, etc). I'm glad it turned out for you, but even living in this car-centric country, a $20k car is not a need.

[@kaiw522]

Caleb: *asks a question* This guy: *answers a completely different question*

[@kaiw522]

Me: 🤦‍♀️

[@remy3688]

Politician moment

[@jonathanespinoza9586]

As soon as I heard "it's always nice to have 3 cars", I knew this kid was a lost cause. Lost all hope within the first 2 minutes 😂

[@pabrownie19]

Me too 😂. I was like this guy is not in reality.

[@joemachine4714]

Yeah but "There's always hope" 😋

[@quantum3183]

Man for real. He bought his mom a car "because she's paying me for it." What a load of shit, dude took on a huge financial risk and burden to protect someone who already has shit finances WHILE they make an even worse financial decision and plummet themselves into even more debt. Not only is this dude and idiot for taking on that kind of risk, but also enabling his mom to make terrible decisions and she'll eventually ask him for even more money. Yikes. Not only that, but this dude's attitude the entire time was mindblowing. When he matter-of-factly said "AKCHYUALLY, she pays for it, Mr. Hammer." Wow. Mind-blowingly stupid. There's no helping people that do stupid things and still think they're right. This guy is gonna be in crippling debt for the rest of his life.

[@18aplateindoors]

Facts lol I bet 90% of the comments were in the first 5min

[@whenaubreyhearsthis]

That is the craziest bar I have ever heard in my life lmao my man you are DROWNING

[@tsarsouthard]

I was in a VERY similar spot to him debt wise and cars (also at 22). I'm glad I'm climbing out of it thanks to Caleb's advice from watching!

[@DGregster]

One of the scariest things I've seen on this show is how he called a car an "investment". Well y'know besides the guy who "doesn't" eat hearts lol. That's scary to be so confused that you think a liability is an investment/asset.

[@Invertmini1212]

Same, I was like what? He said “its nice to have 3 cars” 😂

[@TheSlvrGR86]

@@Invertmini1212Only CERTAIN cars would be deemed an investment, but absolutely no “normal” car is an investment. Sure some hold their value more than others, for example some Porsche sports cars and Toyota SUV’s. It’s crazy that he thinks it would make sense to buy a Tesla for an investment and his only reasoning being just in case his other car breaks down.

[@AndrewPureMI]

Some cars qre investments but they are the high dollar REALLY REALLY nice cars!!!!! Not your average grocery getters!!!!

[@AndrewPureMI]

​@@TheSlvrGR86that's pretty much what I said... just q little different....

[@shroomer3867]

Even if you pay for it in cash with no interest it's still not an investment since it depreciates in value so you wouldn't be able to sell it at the same price after a few years unless you tune it up which can be a huge risk if you don't know what you're doing. What was the dude smoking there?

[@jennywalker9572]

I salute you, Caleb. That was a doozy. Thanks for keeping it real and never cookie-cutting it. Bless this guy; he seems lost in the big wide world, and what it means to become an adult; thank you for showing him a path forward, and I hope he takes it

[@Whiskey_Jane]

He absolutely does not comprehend what the 25 interest rate means on what he owes every month and what amount of his payment goes to his principal.

[@TimBryan]

Based on the choices his mom has made, Caleb is helping him break the cycle of generational poverty!

[@FatELMO895]

He really tried to call him Mr. Hammer to annoy him but Caleb took it as a compliment🤣🤣

[@yrjopekkajr]

I think he called him Mr Hammer because he called him Mr car guy, but still, bold move 😂

[@kaiw522]

I think it was definitely cheeky but Caleb is not here to play todayyy

[@johnnytacosauce]

At the end we laughing at this boy with 2 cars 🤣

[@JamesKim]

This had me rolling 😂

[@shooterman2535]

Bro is straight up regarded

[@sonofthesun5270]

Mentally deficient

[@NHill8025]

He really does seem slow. I know a lot of it can be young naivety but he really seems to struggle grasping basic concepts and answering direct questions.

[@carpathianhermit7228]

Fetal alcohol syndrome. Volbo technician

[@brightonuprach]

Straight up regarded as what the rest of the world views a typical American.

[@devinmims6593]

You know it’s bad when Caleb jumps into the debt instantly 😂😂

[@burr7259]

“I know my interest rate is 35%” I literally gasped holy moly

[@heatherj3030]

No freaking way I would ever let either of my boys, 18 and 24, jeopardize their financial future by buying me a car, and especially one on credit! Love your children more than yourselves!

[@aUNCtarheeel]

In hispanic culture there is an opposite way of thinking when it comes to taking care of parents. Especially after retirement. There is an expectation on the children to help the parents and it is generational, so the mom probably isnt even aware that this is hurting him and wrong. It is seen as almost an honor to take care of your parents...my husband at 40 still sends money to his mom and is happy to do it. When we have conversations as an interracial married couple we always clash on the subject of OUR retirement. He has literally said before "I wouldnt want to deprive them of the chance to help us I think its beautiful" whereas me as a born and raised American tell him "I would never want our kids to have to take care of us!" Where this gets MESSY is for the generation that are children of immigrants such as my kids and this young man. He has to take care of his mom AND think about the future of his kids because they will grow up with the american ideal of not helping parents during retirement. Just thought maybe I could offer some insight into the mindset as someone who sees something from the middle

[@IAmebAdger]

​@@aUNCtarheeel"wouldn't deprive them of the chance to take care of me because that's beautiful" that is such backwards wording! I wouldn't cripple myself just to give the ppl I love more incentive to pour time and money into me, that just makes the whole family poorer! All of us being richer together can also be beautiful, and they can still take care of me mentally and physically, just not financially!

[@TheAnnoyingBoss]

​​​​​​@@aUNCtarheeelot a hispanic culture thing its merely trying to split responsibilities. I bought my car and i used it for a few road trips and then i used it to get to a job and then after that I didnt need it but then a family member needed a rid so i let them drive it because adding them into my insurance as primary driver because i rarely needed it anymore really lowered my rates in a good used cheap car and someone was driving it so the gas didnt go bad and the battery stayed charged up when i wasnt driving it. So my monthly bill went down and i was rarely pumping the gas. Then my family member paid the insurance so i didnt have to, then was able to eventually get a ride themselves and my other family member needed one so i sold it to them. So now i could buy it back because I have the money and i like the car i just need the money more than the car lets goooooooooo. I have a motorcycle endorsement that means the least qualified people aboht motorcycling have qualified me to be on a motorcycle. Why pay for a car when motorcycles are cooler and more affordable unless youre an idiot or rich enough to not care. Insurance on some of these bikes is under 150 a year if you pay cash and cash goes farther in a motorcycle than a car. Mom wants a car but motorcycle endorsements are way cooler for my wallet bro. You get to travel more for less money unless you are driving a cheap prius maybe but would you rather be seen on a motorcycle or in a prius?

[@neaseivo4778]

No, that is not hispanic, asian or any other culture. That way of thinking is a relic from living in an underdeveloped country. This is the way it used to be absolutely everywhere in the world, in Europe and America as well. When your country is not developed enough to provide security or a safety net, your family is the safety net. That’s exactly how it was in every country! When coutries develop (especially financial systems and wealth), people have other options than just relying on their family. Clinging to this old way instead of utilising the benefits of a modern society can financially cripple you and your relatives, as we see in this video. Tight family bonds are a good thing, but some of this shit is so stupid it needs to stop. Your kids should NEVER be your retirement plan.

[@rocketdogticker]

13:09 🥇 Mr HAMMER 🔨

[@Annie-ex3ge]

Caleb, I salute you! I would have lost it with the kid at the Tesla. The excuses, the stupidity, the vacant smile... The car salesman must have seen Dollar signs the moment he entered the lot.

[@Lazirus951]

You could tell almost everything Caleb said was bouncing off the kid. I think the kid thought he'd come on the show and learn some secret accounting trick to make the debt go away.

[@samueljaworski5737]

This kid has a peanut brain

[@AnotherWatchChannel]

You can’t convince someone who is not able to admit they have spending issues and be willing to sacrifice. This guy is not there yet.

[@zeeMuniStacksBundles]

Agreed, the kid 100% didn't get the reality of the situation. I feel like there's a whole population that shares his mindset. I was astonished that he didn't understand this will alter his future 5-15 years ahead. To fix what has been done is pretty much going to be mission impossible for that situation since he still wants to live a comfortable life. He's definitely fkd

[@Invertmini1212]

He literally said “Having 3 cars is nice” 😂

[@owenb8636]

I'm convinced some people seek financial help expecting the person to wave a wand and make the debt go away. Like maybe a bit with negotiating repayments but basically you're going on a financial diet

[@penelopedrawsstuff]

Dude was straight up about to cry when asked what score he'd give himself 0-10. Like, Caleb is just being real, and the kid can't take it. The slightest disapproval and the kid is cracking.

[@genxx2724]

That’s millennials and younger. Soft and lacking fortitude, because Mommy, Daddy, and teachers all tiptoed around their feelings.

[@TheEightyeight88]

I mean all generations go through this financial ignorance. And if you didn’t thank your mentor whether your parent or some one else. go ahead and pat yourself on the back for having more mental fortitude than a 22 year old

[@penelopedrawsstuff]

@@TheEightyeight88 The lack of intestinal fortitude to face the music, was my point. Sure, every generation MAY go through a stint of gross spending habits. The difference is how they deal with the problem and own up to their mistakes. He is aware of how shit his financial situation is, but he doesn't want to hear it.

[@THExKINGxKINGx]

We clearly didn’t watch the same video apparently Lol

[@Mnight3]

@@genxx2724learned it from stupid GenX

[@kieraburgess3431]

I work in mortgages in the UK so I don't know whether it is the same in the US but the first thing I thought when he said about her not wanting the car loan in her name to buy a house is to trick the mortgage lender into thinking she can afford more than she really can. Over when you apply for a mortgage we would search credit file and if there is a car loan on the credit file this would be taken into account for maximum affordability and therefore would give less borrowing. It may be that the car payments will not be affordable alongside the future mortgage payments which would be given by the lender based on her not having a car loan. Therefore even though she is paying it now when the mortgage payments start she may not be able to afford both. Then the payments would fall on him. The thing is if she cannot get a mortgage with the payments whether it be because of affordability or credit the reality is she should either not have a car loan at all or not get a mortgage. Putting a loan in someone else name to skirt criteria for mortgage lenders is not helping anyone. She will have a mortgage that is potentially unaffordable and her son has higher debt to income ratio. 😢

[@ChiefKene]

3 cars… 6/10 on the financial rating. 🍿🍿

[@RichieRich7339]

That killed my brain immediately

[@rachelmeier6514]

I give it five bags of popcorn and uhhhh five bags of soda.

[@gidgetgetscrafty]

He definitely hasn't watched the show. 😂

[@sneakysnake647]

Love your popcorn emojis!

[@JKRBW]

I appreciate that your tone softened with him. It was a rocky start but you switched to educator mode and met him where he is. A lot of us are twice his age and still getting our shit together because we never learned there was a better way.

[@oliviacarter1517]

As much as I might have not loved this guest, “I’m not the one paying for it, MISTER HAMMER!” took me out hahahaha

[@donaldham308]

49:46 he’s a mechanic and thinks it’s hard to find work on the weekends lololololol

[@boom2445]

This guy is the sassiest to come on and playing victim 🤣

[@iosgaming2824]

Yeah I’m surprised he allowed him to get away with that “MR. HAMMER”. I think he got defensive during the conversation because he felt he embarrassed. There was sassiness in his quick responses too as if he saw them as gotcha moments like when he said well my mom is paying for it when he still shelved out two grand of his own money

[@TalksWithTJ]

I see someone else beat me to saying it 😆 all the sass and attitude like wow. Deflects all accountability and was a smarta** at least a few times when called out for his illogical choices.

[@21Seamoney]

This kid is the epitome of why so many people get themselves in financial trouble. I feel bad because hes so young and it doesn't seem like he really knew what he was getting into, BUT there was still a lot of ego involved in him talking about the decisions he made. People like him are unable to question the decisions they make and then take responsibility for them.

[@Buxtonphil]

His ego will be his downfall

[@ncdozer3103]

Don’t feel bad for stupid people.

[@ColinBradley-Leon]

I hate this guy's demeanor!

[@cuttingback]

On a positive note, if he takes the advice, he can really turn it around in a year or 2. If he's really serious then a few months.

[@chrispaul7595]

I was like that he needs a lot of living and to face the actions of his consequences. some people need that in life

[@BangrsFW]

Your editor deserves a bonus for keeping the boss/car story in there!🤣

[@natanaelonate5193]

That was the best thing anyone has ever said on Mr. Hammers channel😭😂

[@andyholstein237]

Caleb's reaction was great too. "Alright."

[@lowkey276]

If the mom can't own a car, she can't own a house. Rent.

[@katelynnuckolls1675]

I had a dream the other night that I met Caleb, and he said “YOURE the one with the $4700 mortgage” yelling at me in my dreams 😂

[@CalebHammer]

🤣🤣🤣

[@brianagillustration]

not him astral projecting into your dreams lmfaoooooo

[@gideonp9762]

Did his voice squeak in the dream? Lol

[@jorschu]

I've been binge watching these videos like crazy, and I feel it's well worth my time. I don't have any debts, but my spending was beginning to get out of control and eat into my savings hard. Thanks to Caleb, I've started to take budgeting seriously and even help out a younger family member with her finances. Thank you Caleb!

[@quantum3183]

Even just watching videos like this and learning financial literacy is such a massive step for so many people. Personally, I'm doing pretty well financially but Caleb's helped me realize that I'm not very good about dumb spending; spending $20 to Doordash a $10 meal doesn't sound like much at the time, but if you do that 2-3 times a week it starts to add up really fast and makes a huge impact on your finances. Good on you for learning, and it's awesome that you're helping family out family with finances especially someone younger! Keep it up :)

[@ponodude101]

At first, I thought he was being sarcastic and pushing your buttons when he talked about wanting to get a third car, but holy crap. He legitimately doesn't understand the gravity of his situation and wants to make it worse! I'm so glad I discovered this channel near this start of my financial focus last year. When I start to think I need to speed things up so I'm not behind on investing and other life goals, it's been eye-opening to see just how behind some other people are, both younger and older than me. Hopefully, this guy can get a reality check at some point and turn his situation around.

[@MultiIhatethis]

Gotta get that Tesla to save on gas, and keep all 3 cars to spread the miles around to fight depreciation!

[@BureauATF]

As an expectant father, the dead eyes and soulless existence of this hollow shell of a boy is the stuff of nightmares. Dudes intelligence is so low that he's daydreaming about eating crayons this entire conversation.