brought to you by the every dollar app start budgeting for free today i just are looking to show i yesterday and situation i mean i i just feel really stuck and i don't even know where to begin okay what what is making you feel stuck uh... i guess i just have a lot of payments that i am responsible for him uh... you know thirty one thousand dollars uh... twenty eight percent loan on a twenty five thousand dollar truck i was sixteen thousand on our view that's worth eighty seven and willing to sell this sell the stuff but great i i want to get a personal loan to make up the difference okay well here's the good news uh...
you can't play store to walk you through this but you need to have this mindset is as he walks you through this you're actually not stuck you're not stuck you're just in a really rotten place that you put yourself in and you got into it way easier than it's going to be to get out but you're not stuck you gotta hold on to that you got me i got your proof of it to him how does he get unstuck in his mind well let's look at the math of this and figure out you know the easiest way out because you might be a solvable problem with your current money or might need to go you know sell a bunch of stuff and go get three more jobs so tell us about your financial picture how much are you making right now uh... make it between sixty and eight thousand year and taking home about forty four let me go less to kind of watch what you do for a month or what do you do for living i'd like to and what is your rent uh... my mom on the house and the mortgage payment eight fifty and i give her nine hundred and also responsible for the water bill okay i'm very reasonable rent as far as your income goes i see on the screen here it says you're behind on rent why is that uh... i think just you know just one thing after another you know i i i i pay one month to rent and then by time i pay it another month to do immediately and i just feel like i can't get caught up well where's the other thirty six hundred dollars going that isn't rent you gotta take care of your vehicle if you want to keep it on the road and the smartest move is regular maintenance i recommend christian brothers automotive the official auto repair partner of the ramsi show your local christian brother shop provides high-quality maintenance and repair services you can trust visit cbac dot com slash ramsi defined a location near you and get an exclusive ramsi discount of ten percent off your visit ten percent of two two hundred fifty dollar value store for details where's the other thirty six hundred dollars going that isn't rent uh...
nine hundred dollars for that truck payment that i mentioned and then i know i five hundred dollars for insurance which is a little ridiculous but alright so we'll clear fourteen hundred bucks just getting rid of the truck yeah ideally that's what i want to do i tried to refinance it uh... can do that and i won't be able to sell it because i i don't have six grand to pay off the difference you don't right now but you could and i think that's the move was this a trade-in or did you find the private value uh... uh... private party value is about twenty five thousand okay and you're saying what do you want to go like thirty one said thirty one and change yet what was the other debt uh...
our view that i owe sixteen thousand change what's that worth uh... maybe seven or eight thousand and i have thirty five hundred dollars in credit card debt but to george's question you're also spending freely outside of some of these big payments to argue uh... yet to know i mean i prioritize you know just keeping up that house payment made the bill or behind on bill so you know i'd pay what i can on the bill and then and then they're do again but yeah i feel like i could settle down a little bit on all my finances do you save any money was last time in a month you save something uh... and are you open road like what's your truck driving schedule uh...
home every day i start the morning and get off uh... mid-afternoon okay and and and mom owns the house and you're just paying her rent uh... she she uh... had the mortgage on the house and the mortgage payment of eight fifty and i'm just covering that okay she's not covered and she's not able to work she's not because you said we are behind on the bills i thought i heard uh...
me and i can say oh so you and your fiance are living with your mom now she my mom was tomorrow my mom just inherited the house uh... but if you don't say living in the same house okay so you live in this house by yourself uh... yeah just with my fiance i just ask you if you live with your fiance and you said no all right i thought you're asking about another i thought i did but we cleared that one now on this so what is the fiance do for a living on she's a cna she uh... she brings in about two thousand a month she part-time she helps uh...
it's technically full-time at three days a week uh... three on four off can she work more uh... well it sounds like she's not paying rent at all isn't she i mean paying any of the housing costs of she's living there uh... when i need help with uh...
you do need help you know this is nine hundred dollars okay alright so you can uh... she has a car payment herself and uh... working on paying off the medical bill okay all right so we've been we've done enough diagnosis here jade you never even sniffed a budget and even if you sniffed a budget i don't know that you have the behavioral discipline at this stage to actually honor the budget so you call asking for help right yes what i do can in george right that's right here's what you do you've got to start being disciplined you're just spending money like a billionaire and you don't have anything and so you actually can get out of this art your part of the facts right giving giving the tactical what you need to do today so the babysaps are in this order babysap one thousand dollars starter emergency fund you have a thousand dollars to your name right now across your bank account okay that is your first goal which means the next paycheck that comes in you're putting that aside and you're gonna cover your four walls and if you that's all you can cover that's okay so far we're behind on the rent or trying to make the debt payments we've got a cover for wall first now this is tomorrow so now my mom is mom paying the mortgage even though you're not paying her uh... because you said you're behind on rent but that's really mom's mortgage well no she's not paying it it's not getting paid when i don't spend her money the mortgage not getting paid at all yeah so you could get foreclosed on uh...
we haven't got to that point that works that's what it's headed and that's what happens to a lot of their mortgage your your fiance needs to start paying four hundred fifty we're splitting this because we're not married but she needs to be working forty hours a week if she's living there she's paying half the rent until you learn how to do it on your own and so we come up with six grand after that to clear this truck to get a thousand bucks in the bank and you're gonna keep living on rice and beans you're not doing jack squat when you're not working and you're gonna be working a lot can you do overtime uh... i don't really have that often no answer the other jobs and you get off the afternoon you already let me know that so now you're not getting off of the truck situation you're moving in the next job you need money you need to work really hard so this is painful for you do you need a car right now to get from a beer or can you just drive the truck by i have to be looking into work can you can occur for us and i take you she's got plenty of time no she worked uh... sixty and i worked about uh... for a m to about four p okay well you're not to figure out a transportation situation out because if you clear the truck you can breathe again you're by cycle that's six thousand dollars is your focus after this thousand bucks a safer your small emergency fund but that's your key to getting out of this and so far as well can do that because this underwater on this you need to get more money and spend less and if i look at the bank statement i could probably find forty eight ways to do it so hang on the line we're gonna give to every dollar budgeting app it's gonna be a coach in your pocket like us but less yelling and more recommendations for how to find that margin i'm really for you and we love you that's why we're yelling it's out of love create your free every dollar budget today the simplest way to budget for your life