“You Make Too Much To Be This Broke”

[music] Brought to you by Chom, a budget friendly, faith-based alternative to health insurance. ch ministries.org/budget. >> I make $94,000 before taxes. >> Good for you. What do you do? >> I'm an engine builder for the military. >> Very cool. Good for you. Good. Good. So, you're in the military or you just work civilian for the military? I work at I work in another place and I just only do military engines and >> Cool. Okay, good. How can we help? >> Um I'm like $32,000 in debt. >> Mhm. >> And I got I my home is paid for and I got a paid for Jeep Wrangler, but I bought another car just to drive back and forth to work to save money. But I got like a lot of zip, Afterpay, PayPal. You know how you just don't want to spend your money >> and I got a personal loan. And I just want to know what's the fastest way because at my job I'm already doing like 16% in my 401k. >> So I I have a feeling do you have a stack of money saved somewhere? Do you have money saved? I I did, but I don't know more cuz after my son passed away, I just went on a spending spree. >> And when did he pass away? Huh? >> 2018. >> Okay. >> So, you said you've got a bunch of >> So, did you borrow money for the car that was cheaper in quotes? >> Well, I got like a $7,000 car loan. I left owing $7,000 on it. Now, I Everything is current, but it's just like I'm throwing my money away. I don't know where my money go. >> Half of the time I be like, >> I make good money. >> Yeah, you do make good money. You make way too much money. Be this broken out of control. >> Yes, >> but your heart But your heart was broken. >> If you miss health plan open enrollment, don't panic. Christian Healthcare Ministries offers a budget friendly alternative to health insurance and you can join at any time. With CHM, there are no network restrictions and members say they often save hundreds of dollars a month compared to traditional insurance. So, make a change that fits your budget, your values, and your timing. Check out chmin ministries.org/budget to learn more. >> But your heart was broken. >> Yeah. I'm out of control, babe. I need help. >> Okay. >> Because I buy like5 $600 worth of clothes a week. >> Oh, wow. Yeah. Yeah. My my dad used to say that half of solving a problem is realizing there is one. And Cynthia, I think you realized it. >> Yeah. >> Are you sick and tired of being sick and tired yet? >> Yes. >> Okay. Enough to change. >> Yes. >> Okay. Cuz I think you can you make enough money to straighten this out as soon as we straighten you out, right? >> Yeah. >> Have [laughter] you looked at how much it is when you combine it all together? All the the buy now pay laters and the personal loans, all that. How much is it? >> Yeah. Like um I got I I got them wrote down in a tablet at home. >> Mhm. >> And so I got like I came over y'all came I saw y'all like on New Year's the day before New Year's >> and I just went to write down everything that I had. Good. >> And I was like I'm going to get my life together. >> Good. Good. >> And I won't go I went I came to the store to return some stuff. >> Okay. And I would like just put the money back on my debit card. And um >> my friend said, "This the first time I ever seen you go in the store and come out without nothing in your hands." I said, "I'm on a budget. I can't do it no more." >> Okay. So you create Did you create a budget or are you just saying you're on a budget? >> No, I created it. >> Good. Yes. Did you do it on every dollar? >> I That's where I did it at. >> Great. >> All right. >> What did you find? Did you did you find Tell us what you found. >> That I was like having like I got $3,600 like um into debt, but I have like $2,200 left. And I was like, "Where that money at?" And >> okay, >> my >> my friend was like, "Look on the floor. You got shoes stacked up to the ceiling you don't even put on your feet. Look in your closet. You wear your clothes one time and give them away." >> That's a friend. >> That's a true friend to tell you the truth. So, you got $2,000 of margin every single month and it's just going to >> crap. >> Crap basically. >> Yeah. And so, >> and did I hear you say it's only $3,600 of debt? >> No. Yeah. >> 32,000. >> No, I got $32,000, but like when I pay my stuff off a month, >> I have like that left, but I increased I was Hey, listen. You're not married, right? >> No. >> Okay. What I want you to do is I want you to keep this Every Dollar app and I want you to give your friend access to the Every Dollar app to be your accountability partner. >> Yeah. Cuz she's a good friend. >> And tell her to bust you if you don't do anything except get out of debt. No buying nothing. Cynthia, you have enough crap to last you for the rest of your life. >> Yes. If you if you don't do anything except pay rent, work, eat, keep the lights on, you can be out of debt in no time. >> Well, you don't even have rent to pay >> for. That's right. That's all. Come. I forgot that. >> So, how much you when you look at your budget, how much can you put towards debt every single month? >> How much extra? >> Well, I had Well, I got like a $10,000 check coming on tomorrow. >> Okay, great. And so I said that I was going to take that and start well I got my $1,000 um >> emergency fund >> and then I said with that $10,000 I was going to take that cuz I got like $2,000 of back home taxes and I need to just go on and pay that $2,000 >> and then just go on and start paying all my credit cards off the smallest to the lowest. >> That's right. That's right. So, the other 8,000 goes to that. And then if you just continue to take I think I heard you say you had $2,000 in margin every month. If you take that, I mean, you're going to be done with this by the end of the year. >> That what I wanted to hear. Okay. >> Or sooner. >> Or sooner. If you get intense about it, cuz something tells me you do have more margin. >> Shoes and purses. Why don't you put them on eBay? >> That's what somebody else said. Instead of giving them away. >> Yeah, cuz it's brand new basically. >> Yeah. Let's put them on eBay. People buy that stuff, man. They'll pay big money for it. Yeah, cuz she's this is not uh this >> not cheap stuff. This girl buys good stuff. I can tell. Yeah, [laughter] >> I think there's a name brand, Cynthia, laying there in your floor. >> Oh, yeah. Put that on Poshmark. Put that Put that on the nice places. >> Okay. Posh Poshmark is eBay. What? >> Poshmark. Yeah, that's where you get the nice high-end stuff. >> Oh, used. Yeah. >> Okay, cool. All right, there you go. See, I don't know this because I don't do that, but Yeah. Good. Very good. Hey, Cynthia, I think you already had a pretty good plan before you called us. Okay. >> You were working the stuff we teach exactly the way we teach. Everything we asked you, you answered the way we would have told you to do it. I'm very impressed with you. >> Thank you. >> Okay. Now, do it. Okay. >> Okay. >> Be, you know, act like your friend's standing in your back pocket. And so, no screwing around. Time to be a grown-up. >> No buying stuff. Don't be walking. Don't even go in a store. Drunks don't need to go in a bar. >> Mhm. >> Yeah. >> Yeah. So, just stay out of the store. You don't need to go there. And don't get on some website unless you're selling something. >> All you need to do is sell stuff and work. >> Can I give her my book yet? Can I give her my book? Absolutely. You're the prime candidate cuz your emotions are were were driving you and this will just help you stay motivated even more going into the new year. Um, so Christians back there, he'll pick up and and give it to you. I think you're the first first person I've given this book. >> That's good. Very good. Hey, and Cynthia, listen. Here's the deal. When someone loses their son and their heart is broken >> and they and they make some spending mistakes, >> that doesn't make you a bad person. It just means that your heart was hurting. You're okay. You're okay. But don't live but don't live the rest of your life this way for for your sake. Okay. >> Okay. >> Yeah. You didn't do a bad thing. You just you just heart was broken. Okay. >> Okay. Thank you. >> Yeah. Just go on and now let's go win. Mhm. >> Let's get get this mess straightened up and in his memory um instead of having a pile of shoes, let's have a pile of money >> and get this thing worked out. >> Y >> that's a different change on that, you know, [snorts] >> cuz I got to tell you the number of times that um emotions just like your book >> activate >> and and sometimes it's a broken heart. Yes. >> Um grieving. >> Yes. >> The loss of a loved one, the loss of a relationship, the loss of a job. >> Yeah. Yeah. And uh it sometimes it takes people a while depending on the uh severity and the weirdness of the situation. Takes longer than others. But the good, you know, the good news is something happened >> around New Year's for Cynthia >> clicked into place >> and she woke up and thank God something popped up on Instagram and it was us instead of one of these goobers. >> Mhm. >> That are just telling, you know, Sofi telling you go in debt or something, right? >> And she did everything. She'd already started doing it all. >> Yeah. >> It's very, very good. They're very impressive. >> Take those moments and run with them. >> Amen. I call that a God moment is what I call it. >> Well done, Cynthia. You call us back anytime, honey. We're here to help you. It's what we're for. >> Christian Healthcare Ministries can save your family hundreds of dollars on healthcare every month. Learn more at chmin ministries.org/budget. /budget.