$40,000 Of Wicked Debt | Financial Audit

"Colt had told me you've been spending a ton on Wicked merch. >> Yeah, guilty is charged. So, >> you're mad you had to travel last night because of a Wicked TV special. So, we're going into debt like your lesbian friend told Colton that you've spent thousands thousands on Wicked alone. Thousands on Wicked alone."

"The ship doesn't benefit you. It's nice. >> It doesn't benefit. It doesn't have a long-term impact. >> I mean, it benefits me emotionally, like mentally. >> No, mentally. You remember when you said you were too stressed to look at your debt? >> Yeah. >> Mentally, not having to having a fully fun emergency fund for the next time you're jobless for a month, that would benefit you mentally."

"So, my cat had a bladder obstruction in April. >> Cat. >> Yeah. >> Q. You can't afford a cat. What a selfish person. I got the cat with my ex-boyfriend who I told you about that I moved in with and he didn't pay for anything on it at all. By the way, this >> Let me see a picture of your ex. >> Oh, okay. Yeah, if I haven't deleted all of them yet. Okay. Normal minimum is $71. You owe $2,169. It's at its max. No surprise. And we're past due two payments. We now owe three. 13 years to pay off minimum monthly payment."

">> I have like 13 grand on my car still, >> dude. Oh my gosh. Okay, let's see this car. >> It's this. Yeah. Oh, this is it. I thought this was the consolidation cuz it's it's the same balance basically. So I thought, "Oh, what are you doing? What is the car? What car do you have? What car do you have?" >> It's a 2018 Subaru Forester. >> It is a full salvage title. I am full. Yeah. And I wrecked it twice. Well, I only wrecked it once and I got into a fender bender myself."

"The Beyond Repayment Service, $128.72. >> NFN >> NFM. Okay. $54. Then we have to make $425 to the care credit so that it gets paid off before deferred interest hits. Quicksilver 150 probably once you catch up. City double cash probably 150 once you catch up. Then discover 150. That is debt minimum monthly payment of $1,42.83."

"So, you're going to go get a second job to be able to at least break even and hopefully start bringing down the debts after you change your behavior while you're looking for a more full-time career position. That's what you're doing. Maybe you take a certification through course something you desire, an actual career field that isn't psychology. Psychology is a career field. Not much you can do with just a bachelor degree, as far as I know, though. You might have to go back. But either way, I don't want you to go back and certainly I don't want you being the person talking to people that need help."

">> What do you think this car is worth? >> Like 10 grand. >> Do Do we have it? >> I guess I did not. I'm sorry. >> You can't send statements. Can't send VINs. What the Who knows? I I'm sure you have a dramatically negative equity position in this car. And the interest rate >> 7%. >> Okay. It's on the teetering edge of horrendous or not horrendous, but it ain't good. I'll tell you. It's fine."

"Okay. Here's the thing. your minimum payment is $71. You're not even paying that. So that's issue number one. Issue number two, you need to make $425 to pay this off before the deferred interest period ends. Let's explain it. There is interest free. This in 5 months, if this was interest free, you're not paying interest on it right now. It's not acrewing. It starts acrewing interest on whatever the balance is once the interest free period ends. Deferred interest means it is acrewing interest, >> okay, >> behind the scenes. And all of that immediately gets added to the balance if you do not pay it off completely by the time that date ends."

">> Yeah. median hourly wage in the Omaha metro area is $30 an hour. You're at 2/3. You're not doing well. You're not doing well at all. That translates to $62,900 a year."