She has told me people have reached out and started to harass her. If you are someone that would even consider doing such a thing, LEAVE NOW. I would never want that kind of hate in my audience. We all have problems, and one of hers is financial. Bullying someone is not going to help... 1 of my first 10,000 subscribers will win $1,000, and 5 will each win $100. You will be randomly selected and announced within the first week of hitting 10,000 subscribers!
I'm a financial advisor and this is exactly how it is. A lot of cognitive dissonance when rationalizing debt. They often think like she does that "as long as I work harder and harder the problem will go away." But the problem isn't how hard they work, it's their habits and relationship with debt.
I'm fascinated by economics so seeing the psychology and hearing how people like you tell their story really gives a fresh perspective. Since you're a financial advisor is there some sort of calculator online or web resource I can use to determine my overall wealth compared to other Americans? I'm not living paycheck to paycheck but I feel like I'm in the dark unless I can compare my financial wealth to others in an objective manner.
This stressed me out watching how nonchalant she is about all this debt. I definitely have to have this talk before going into my next relationship I couldn’t imagine dealing with someone that lives like this.
175k in student debt and spends double what she makes a month. If your gonna have that much in debt better be a house or business otherwise your always be behind. Reminds me of millennials money
I paid off my student loan debt during the payment pause. ALL of my money went to principal, and I did not have to pay any interest. One of the best financial decisions I’ve ever made.
I had to make a comment about the Apple charges. I worked for Apple for little over 3 years in their iTunes billing. I find it hard to believe she called Apple and received no help regarding the identification of the charges. That was literally most of my job, telling people what their unrecognized charges were. She can easily go into her purchase history to immediately identify what is being charged. Her explanation doesn’t add up.
As someone who works in the banking world my guess is fraud. Best bet would be to cancel that card to start fresh - if it's a legit bill she can just re enroll in it later. It's an annoying process to close out a card, but if it is illegitimate she can dispute those charges from at least the last 60 days with a decent chance of getting her money back :)
He actually mentioned this interview when he was on the Iced Coffee Hour (he didn't name her but this is only video that fits the description). ....she was apparently uncomfortable with the exposure from the video and doesn't want any further.
My heart breaks for people who were financially abused by their parents, my own mother stole thousands from me, it’s soul crushing to trust a parent and they take advantage of you
100% I thought I didn't understand the concept of money but she was taking it from me so I didn't know what's going on. I also didn't understand student loans and what that would mean. I left home with $0 and nothing . no job, it was awful. 5 years later I'm saving, rent, have a cheap car and I'm doing everything possible to make sure that I can give to my children. and not take
I remember when I was 16 and I saved 1,000 dollars. I was so proud because I finally found a way to help me save efficiently. I was going to put it into my savings account, and I accidentally left it in my car. Come to find out my dad spent all my money, on gambling and on drugz. I was so disappointed in him and just went upstairs to cry in my room. After that I’ve never trusted any one near my money and have always been careful where I left my money. This wasn’t the first time he stole, but it definitely was the most, and he never even said sorry.
@@lakctalks2818 That’s terrible. So sorry that happened to you. My mom is elderly and always asks if she can borrow my credit card to go have lunch with her friends or whatever. Always says she’ll pay me back but never does. If I add up all the times I’ve let her use my card for lunches or gas it’s probably thousands of dollars over the last few years since my dad passed in 2018. I know it’s my fault by allowing her to use it. I have stopped, thank goodness.
The fact that she mentioned she was going into real estate is another major red flag. Something like 95% of new agents don't make it past a couple years or don't close 1 sale, in fact, she'll be guaranteed to lose money on broker fees, association dues, and licensing fees. Financial literacy needs to be taught in schools because it's unbelievable how deep in the hole she is without realizing it. I hope that she's able to find a way though.
From my experience, yup. Got my license. Did it for about a year and got nowhere. It’s not easy or as sexy as they make it look on tv. And now I’m part of the 80% that didn’t make it past two years lol but you live and learn and I don’t regret it honestly
I had the opposite experience & made it in real estate when the interest rates were 17.5%. There is one big difference though… I was scared to death. I was willing to work 16 hour days every day for 6 months until my income became more reliable. I am fully aware that I was a unicorn, though. That is not the norm, but it can be done.
Her roommate seems suspicious. I can’t believe she’s paying her rent on her behalf!? And then she mentioned the roommate’s boyfriend might live with them too? Ummm. No! I guarantee you there’ll be more financial drama with another person in the mix
I couldn’t understand her paying rent for roommate until hearing that she lost her mother at such a young age, and her father stole from her and saddled her with IRS debt. She’s probably looking for family and love, which unfortunately means she can be further manipulated and used.
I agree this needs to be a series because peoples future financial lives are SO dependent upon their current financial life situations that it’s not even funny. Caleb you are single handedly redirecting peoples lives to the positive and for the better if they listen
Her $110k in loans ballooned to $225k because she doesn't understand interest. She is losing 2k a month to it and doesn't treat it as her top priority. It's dumbfounding to me that she graduated form Baylor and does not understand that. When she said "ew" when suggesting she pack a lunch my jaw dropped. I do feel bad because she is financially ruined but it's hard to have sympathy because she makes all of these bad choices and doesn't realize or care about the consequences. You did an awesome job lying out her situation, and you tried to get her to see it through a budget and a 5-10 year plan. She just doesn't think anything is her fault or that anything needs to change. If she doesn't accept responsibility and start living within her means her student loans are going to spiral even more out of control.
Thank you so much! I really want to help her. I give tough love here, but I've been keeping in contact with her and I want to help her in any way I can!
@@sophiaatn5339 Can you really not see how entitled she is every time he talks to her about cutting off needlessly wasteful purchases? Or the fact that she looks down on packing her own lunch vs paying money that she doesn't have to buy out lunch?
A big thing I'm noticing about most of these videos is how almost everyone is making payments on a car they cant afford. Driving used cars is something I'm happy was instilled in me by my dad when I was young. I'm an engineer now making good money and I have never made a car payment in my life. My current car is an 06 and has a kbb value of around $3,000.
I don’t understand it either, I had my dads old car for almost 7 years before I bought myself a used car with a hood down payment so I only pay $200 a month. I don’t know how so many people are okay with paying $600-800 a month on a car
Ok, I would be at the Apple store Raising Caine the minute I see a $3 charge they can't explain (and immediately remove). Who the hell just pays $160 a month in unknown fees in perpetuity?? I honestly had no idea people like this existed. She seems like such a nice person, too. But her roommate is taking advantage and she needs a serious wake up call on the student loans. Aside from winning the lottery or being cast as a lead in a Marvel movie, she has no chance of paying those loans down by half in five years. It's so heartbreaking.
I agree! I’m constantly checking my account on a daily basis and the minute I see some weird shit that doesn’t match or reflect what I’ve written down in my budget I’m gonna do some digging!
I just discovered this series, and I really need to call my parents and thank them for teaching me how to think about money. I think I’m in a bad place sometimes, but these people blow me away.
Man I hate you but I love you…. Unfortunately I’m not great financially. And after watching these videos I’m sitting in bed doing finances… and yeah I can’t afford my car… I gotta sell this thing and just pay off my debt. I gotta take accountability. Thank you for this!!
You got it bro! Small steps but keep moving in the right direction. Most important thing is to review every week/month and ACTUALLY stick to your budget!
Caleb, you are a great active listener and you don’t talk over her even when I can see how concerned her debt makes you feel. Thank you for meeting up with her. I hope this conversation with her can make her reflect that something needs to change.
As a young single woman, there is no way that she should be this financially naive and vulnerable, hope she buckles down and puts this in perspective because later in life it will be much much harder to recover from.
Its sadly uncommon, they think they can hustle to offset the irresponsibility. Deep down she probably thinks when she makes it none of this would matter.
Caleb's stress levels in this video were over 9000. Great stuff Caleb. I've only recently found you and love the content you're providing. Keep it up, you've earned yourself a sub. Cheers!
This young lady needs therapy to help her unpack these issues and change her behavior. This is not a one financial session change. It’s going to take time for her step by step. She’s young and when she discussed the issues with her father, it’s understandable how things got this way for her. I hope that she uses the resources she needs to get help.
I agree, there's a combination of financial and familial trauma that she needs to sort out. It's been months since this video came out so hopefully she's gotten the help she needs
Man…her attempts to rationalize her poor choices and behaviors is sad. I hope she watched this and sees just how bad her situation is. I got the feeling she doesn’t want to have any compromise. I hope your interaction woke her up and she has the courage to change her life direction.
I'm in the exact same situation. I keep praying for more deferrals so that I can continue increasing my savings to make financial moves sooner rather than later
Absolutely underrated video. You did a deep dive into this one individual but I feel like you really showed the current state of debt and financial education in America. Subscribed just for the sheer panic inducing behavior your interviewee instilled in me.
@@CalebHammer The reaction over the car loan was tough for me to see. Hearing you explain to her the difference between loans that can be sold (through selling the item back) and loans that cannot be sold is golden advice money can't buy.
I feel so horrible she was coerced into this crippling debt at such a young age by the one person she should have been able to trust. It's heartbreaking. Hope she can find a way out of that.
Yes, like I dont think she's clueless. I think she's depressed. Like I'm sure it feels like there is no end in sight, and I can understand the impluse to give up 👀🙃 these are some real obstacles she had faced. I wish she could sue or get some of that tax debt from her dad forgiven. Like how can they collect on tax debt you accrued as a literal child lol
It's funny to see the difference between these early caleb videos and his videos today. He lays into people way more in his current videos (which I love 😂, and I think is generally what they need).
I’m on my debt free journey now paying $3k towards SL each month. I graduate in a few weeks with my Masters so I’ll use the extra time to pick up a part time job. I also have a car loan and shopping for a cash car right now. It’s quite difficult because my budget is $6k. Based on my plan, I’ll have all $34k from undergrad paid my January. Then start attacking my grad school loans. With the part time job, I’m hoping to up my payments from $3k to $5k. Thank you for the video! I hope to see more. I also just subscribed to your channel.
I got my first job when I was 16. The business owner I worked for gave me some advise when he gave me my first real pay check. He told me I could become rich and be in control of my life if I lived on half of my pay and invested the rest. That was 50 years ago. I've driven used cars that I fixed myself. Found jobs that paid for me to go to night school. Restored a $2,500 mobile home and lived cheap while growing my income and investments. I totally avoided debt eventually buying my dream house with cash. Now I'm retired and enjoying both a simple life and financial security. Avoid debt and while some people think there is good debt, all I can say is not for me thank you. For me debt of any kind is a form of voluntary slavery.
There should be a disclaimer with all social work degrees. I wish there was a correlation between your major and what lenders are willing to give you, it's crazy how the borrowed cash flows when you're still technically a teenager.
We watch and we learn. Let's appreciate these brave people for coming on this platform. Also, whether they want to change or not, that's not an invitation to harass and disrespect. Our society needs healing and help because not all of us were born with financial intelligence, please brothers and sisters...watch and appreciate without HATE.💯⚘️❤
“Pack a sandwich” “ew”, like you don’t have the financial position to be able to ew at that, its a huge indication that she’s not able to recognize her financial position
I get that she makes bad choices financially but it’s hard not to see how at a young age she was put in a horrendous place financially by someone who was supposed to be caring for her. She literally walked into adulthood with 1000’s in debt because of her father. She made the decision to go to Baylor as a high school student because she was encouraged by her dad and trusted his word that he would pay for it. Her current decisions are making a bad situation worse but I’m floored by the hand she was dealt. Honestly when the debt feels insurmountable from day one and it’s not something you played a role in creating or understood yourself I get how she developed this level of dissonance. I feel for her honestly and I hope she can find a way to align her actions with her goals and get the debt down.
A lot of things that happened to her also happened to me but at some point you have to realize that no matter how much other people fucked your over, you’re the one who has to live with it and make the best choices for yourself you can. I hope she can improve her spending habits and fix this situation but if the attitude about money doesn’t change I don’t see how.
I'm guessing the Apple charges are games or apps or something of that sort. Theres no way she called Apple and they said they couldn't locate the charges.
People like this can't be helped. She's not listening nor does she take her finances seriously. You give her an overview and a solution, she justifies the irresponsible behavior.
While I appreciate the vulnerability (because let's be real most of us wouldn't lay out our entire financial situation on social media to be criticized and judged by strangers), SIS STAND UP! This is ridiculous. Your dad did you dirty, but now it's time to take control of the situation as an adult. If you listen to the very end of the video you can tell she thinks she's going to become a Hollywood elite and be able to whip out all of her debt...she's praying for a lottery ticket.
Pretty sad how her dad did her though but she def needs to take this guys advice at least with the bankruptcy aspect of it so that she can focus on paying those student loans because Babyyyyy 😩it’s time to put that degree to work for sure, she needs to know that she can pursue her dreams still even with a 9-5 also her cousin must be from her dads side of the fam because she is def using her.
She should sue him that’s the only way she can get this student loan off her since her dad used her education money and she has to take out loans… I doubt she will take him to court tho
I’m currently about to go into my senior year at a public university. I’ll finish with two bachelors degrees and some masters credits for 30k of debt. That’s absolutely wild she paid so much for college. Private schools are a scam!
Private schools aren't a scam and some of them (mostly higher-tier) will offer financial aid equal to or more than public schools. Take MIT for example, if your family makes under
@@Meta_data yeah I suppose it just depends which schools (and possibly state). I know a lot of the private schools in my state are super expensive with no extra benefit, but I agree that doesn’t speak for all schools.
I'm so addicted to this channel! Our finances are in good shape, thanks be to God, but watching series like this one keep us from acquiring debt or wanting to live beyond our means. The secret is to live as if the salary rises and job promotions never happened. Our next goal is to pay off our mortgage in ten years, God willing.
This is so hard to watch. Instead of owning her mistakes and trying to do better, it's excuses left and right. No accountability, no real desire to do better. That said, fantastic series, I hope you make more and you earned my sub.
Money is easy, just like dieting is easy, but what's not easy is trauma + money, or Trauma + food. Once there's some significant trauma involved with someone's financial health it exponentially increases the complexities of improving one's finances. This woman has had some notable traumatic events that featured money as a major focal point in them. Imagine the trauma of losing a parent and having the other parent ruin your financial future before you're even an adult-- Like yikes! So it's just excuses on the surface, and annoying to navigate as someone not part of the issue, but it's super complex and dynamic under the surface, otherwise she'd be in a better situation. I think the trouble is, that so many people don't do the work to overcome the trauma part and so the financial part continues to fester and worsen. She needs to really deal with the emotions of the betrayal of her father or that will ruin her entire life.
Maybe deep down she’s hoping a rich man will swoop down and wife her within the next few years. But that is at best a lottery ticket. Yeah, so many young people are delusional. Sad.
I know a dude that has been in real state for 15 years now. The guy can sell shit to a shitter. He told me you need at least 3 years up until you make your first big sale.
Definitely agree. Personal finance should be thaught in middle school and high school. Just because you pay your bills doesn't mean you are good with your finances.
@@Coastpsych_fi99 it is crazy. If you were to go to a bank with minimal work history and want to borrow $120,000 they would laugh you out of the building. But you can EASILY get that same amount for educational loans.
I think people need to realize that Caleb isn't a financial advisor - he says so himself. He's a financial geek who is putting out these videos for education and entertainment purposes. Financial Advisors don't really operate this way. A financial advisor would sus out pretty quickly that this person doesn't have any money and her situation isn't going to change in the near term and decline to work with the client. People like the woman in this video are intractable and she'll continue to be in the situation as long as she refuses to engage with the debt problem
@@Sunshine4 It's same with fitness experts: if the client resists the steps and won't follow the plan, nothing changes and then the client may get mad and blame the instructor for their failure because of their lack of accountability. If people don't come with the spirit to make a change and follow the financial plan, nothing will change even if they get a financial advisor. Financial advisors are people too, they can choose to work with people who actually want the help and will make that effort. Financial literacy, however, is everyone's personal responsibility, they don't need a financial advisor for that.
@@Sunshine4 financial advisors are not for getting out of debt. That's not their purpose. It's financial planning for the future. It's for investing andife insurance. They don't really do anything with debt
Her Dad pushed her to go to expensive university (that she couldn't afforded) but refused to financially support her. This will ruin her for the rest of her live. This is truly child abuse.
Exactly the situation I'm trying to prevent for my daughter. She's only 4 but I'm putting things in place to keep this from being her future. Sadly, this young lady's father failed her..
@@veroniquevesta7516 100%. All you can do is give them the tools. They have to use them but this young lady did say her dad squandered her college fund when she was younger. If my daughter does end up in a similar situation it won't be because I didn't give her the proper guidance or was an active participant to the detriment of her future.
The best thing u can do is not lie to her like many Gen X and Boomer parents lied to their kids about "follow ur heart" degrees. No, ur "Womens Studies" major will not help u land any kind of productive jobs. Honey, if u major in "Chicano History" u will be working at Starbucks ur entire life. We need to encourage kids to go to school in STEM, medicine, etc.. And if they are not interested in that then go to a trade school and start making money as fast as high school. I repeat, DO NOT MAJOR IN HOBBIES and get $200K into debt over it!!!
It’s still the results of her actions. She went to a very expensive college and watched the bill grow. That said. It shouldn’t be possible for her to take out that much student loans. Try doing that for any other investment
@@aualexstanfield Exactly. Student loans are so predatory. I’m sure there’s no way her dad and her could’ve been approved on a $100,000 loan for anything else. And her dad screwed her through tax liability on her inheritance! I’m sure he probably didn’t mean to, and is probably as financial illiterate as his daughter, but now that it’s all come to a head, he refuses to take responsibility and help her out with any of this debt he helped cause simply because her aunt found out and he lost his job.
How it’s even allowed to have someone to carry 250k$ in debt with no feasible way to pay it off is mind blowing. It should at least be legal to declare bankruptcy - at least then the lender would be incentivized to choose who receives the loan, since they would have to consider the risk of default. In this case, their only incentive is to increase the debt - the payee is on the hook no matter what
I don’t think you guys realize how the use car market is. There is no such thing as a 5k reliable vehicle. You might find one for 5k lots of miles but definitely not a 2018 with low miles for 5k.
@@fernandovazquez7272 car market is currently crashing, might need to look back to this in a couple of months! Unless the supply chain slows down again.
This is going to be a Top 5 personal finance channel someday I love these Mostly because it makes me feel good about my life choices but still great job Caleb
Admittedly this was awhile ago, but as a student, I bought a Toyota Corolla for about $5k cash. It was 8 years old, and had several tens of thousands of miles on it. That car was pretty much problem-free for a decade. The only issue was that the A/C had stopped working toward the end of that. That became a problem because we had a newborn and were worried that he was too hot during the summers. But still, that car put in 18 years of service overall before we sold it. I don’t think it’s correct that a car in this range is going to be in the shop constantly. It will have more to do with what make it was, and whether you do all the regular maintenance when you’re supposed to so minor problems don’t spiral out of control. Toyotas last a very long time, at a good price point, with very good gas mileage.
Love this channel. Binging this is making my schadenfreude absolutely explode. These people have literally ruined their lives, can’t retire, and will die working. If I could turn this into an substance and shoot it up to get high I would. Omg. Love your reactions and gestures and stuff too. Delightful channeln
Lol. You got that right. She is completely and utterly screwed beyond all measure. If I was in her situation, I'd have blown a hole in my skull already.
Her talking about the bank not posting the transaction right away and then she overspends and gets charged a fee is EXACTLY why I have a spending app that I manually put my paychecks and every single charge into. It’s just a habit now. But I always know exactly how much money I have available at any given time.
I agree that it's super annoying when you make a rent -- or any other kind of payment -- and they don't take it out right away. And sure it's easy to say "Keep track of it" or "balance your checkbook" or whatever, and that's not WRONG exactly, but also...this isn't 1960. Payments and credits should be nearly instant, and if the financial industry isn't there yet -- it needs to get there ASAP, like yesterday. This is no longer acceptable like it might have been a decade or more ago.
The most annoying part is hearing her say "the life of a model and actress is so expensive" bro YOU'RE NOT A MODEL OR ACTRESS it's not gonna take off sometimes you just need to grow up and face reality.
I quit college. Went to trade school, own a home, paid off vehicle, 0$ aside from $3oo Credit card and mortgage.:) I own my own biz and spend a lot of free time chillin and working on new deals.
Crazy thing is, she seems like a smart girl. She is just living with so much delusion about her finances. She also just lets people close to her take advantage of her from what it seems. Super sad that she’s going to be forced into bankruptcy at such a young age.
It’s a very sad situation :/ I hope she’s able to sell her car and find a better job… if she does, she could start cleaning it up… but it will take a long time.
She needs to go out of the US to dodge that student loan. Vice did a video about it like 10 years ago, students with less student loan debt than her going oversees to work and eventually get permanent residence to avoid coming back to the US.
If every student did this there would be no student loans available to those who need them. Her problem isn’t her student loans or her family. Her problem is she doesn’t understand how interest works and why only paying the interest has led her to this situation. If she has loans then she had to complete FAFSA. FAFSA requires you to take an online financial literacy course which explains how these loans work and what the consequences of making interest-only payments are. She didn’t pay attention. It’s all laid out very clearly.
@@keithbenedict8764 yes, all the useless (or at least less useful) degrees will lower their tuition if more students with a degree that can't get themselves a well paying job and student loan debt just go overseas. It'll cut off the easy money that's driving up the tuition cost of these degrees.
Lots of people think a brand new car is what they need to get around reliably, but it is seriously about how well you take care of your cars. If you buy a used car, clean title, and under a little 100k miles then it will get you nearly 200k miles with all the general up-keep; That's been my experience.
I would love to see a one year follow up series with these people. A common thread is a lot believe that their incom will quadruple or more in the next year. That’s fine to try but for right now she needs to sell everything and buy a beater and when she becomes a famous. Model/actor she can buy a nice car then.
Just wow. You didn’t even tell her the best part. If she doesn’t pay her student loans they will take her social security check in retirement and she’ll never be able to retire. Incredible how she justified being a financial train wreck. When that car eventually dies she won’t be able to get another without paying crazy interest
I paid $1200 for a 2008 Chrysler 300 back like 3 years ago. It does have a small amount of damage but nothing major. I’ve drove that car 3 years and hopefully I’ll hand it down to my son eventually. I HATED the thought of driving a “beater.” But sometimes you gotta do what ya gotta do. I also rode my bike for a year to work and back. I wouldn’t wanna do it again. But I can’t lie, I felt better that year than I have in forever! And still reminisce on how amazing and in shape I felt then.
Huge lack of accountability she didn’t have to do all these things but blamed pressure, that school loan is tragic and she can’t admit that it was a stupid decision
Theres realistically only 3 ways to fix this. 1) She finds a bf/husband and he pays off her debt or lets her live with him for free 2) She moves back in with parents/family and lives for free 3) She runs away to another country, and gets a bank account that cant be touched by American banks/government
