$1,000/Month Car Making $15 An Hour | Financial Audit

Help grow this channel with just TWO cups of coffee a month:

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Chapters:
00:00 Intro
00:30 How much she makes
01:42 How much she spends
03:36 Spending going out breakdown
05:04 Car Payment
08:28 Credit Report
09:42 $5,000 in collections
14:08 Boyfriend fraud
15:06 Student debt
15:57 You need to fix this!
19:09 Endless excuses

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My filming equipment:

Socials:
Snapchat: calebhammer

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Today I sit down with Lauren. She pays $1,000 a month for a $15,000 car while making $15 an hour. She has $5,000 in collections and debt to a university... she makes endless excuses.

Let Lauren know what you think of his situation in the comments!

**Disclaimer: neither this video, nor any content produced by Caleb Hammer should ever be considered investing advice or official financial advice. All content is made for entertainment and educational purposes**
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[jalenoutside]

It is so cool to see how far Caleb's production quality and story telling has come! In only a year too.

[gemmezza]

For those saying that he's 'too harsh' in his delivery. I look at this the same way a doctor gives life saving advice. This wake up call will save her later down the line!

[ChelseaHutchison]

After watching the follow up video first, the fact she fought so hard to keep the car this episode is even more infuriating! She did not understand how bad they scammed her with that loan.

[aquanote]

Her mom has a spending problem, passed to her kid. Happened to me and I’m just now realizing the golden handcuffs I put myself in. Cleared the debt, have money in the bank and now I’m looking to buy a house. It’s crazy when your priorities change and how quick things come together

[CalebHammer]

I tried to boost her audio as much as possible within premiere. Apologies if it’s sometimes hard to hear her! Just a reminder that one of my first 10, 000 subscribers will win $1000, and five will each win $100!

[NickDAngeloUX]

Screw mainstream reality TV, this is pure gold! Also lots to learn here as a good tale of caution. Having a hold of your finances is key to being the master of your own destiny!

[BigHikeGuy]

When she said she hoped to get an acting gig to turn her situation around with no confidence at all made me burst out laughing. There are far too many young people like this unfortunately

[cw_chomperrr]

Everyone, if you are negotiating a reduced price from a company you are in collections with, get it IN WRITING from the company with the amount you agreed on BEFORE you give them any money, and make sure the document states “settlement in full”

[junniejj]

I used to be in a similar situation as her. The car is giving her access to spend frivolously. I found a remote job just like her and stayed at home for months eating chicken and rice. I carpooled as much as i could to stock up on what i needed. I found other ways to maintain my social life. Real friends will understand that you are taking your life seriously. Its not that scary. Wake up, make breakfast, work, make lunch dinner. If time allowed it, my friends would come over my house and we'd chat while watching tv or walk around a park or in the city. I had a lot of time to reflect upon my life and create a realistic plan to maintain financial stability. 6 months later, paying of collections my score went up 25 points..another 6 months, 25 points. 2 years later my credit score went up 200 points after paying off almost 10k collections. Now I am at 750. Its not impossible. I hope she figures it out.

[shelleyn]

She mistakenly said after tax pay is $2400 but 15/hr for 40 hrs week is 2400 before tax. These videos are so interesting to watch. Its scary how so many people get into these horrible financial situations at such a young age

[BeerWagoon]

Caleb - "How much is your car insurance?"
Woman - "I didn't get car insurance yet."
Me - Speechless

[libertarian]

I'm surprised this girl can sit up and feed herself. I've never seen anyone so ill equipped for life.

[ThatLaurenThing]

Someone failed this girl. You don’t make all these financial choices if you understand what you NEED to do financially. Buying a $15, 000 car when you could buy a $4, 000 beater is absolutely insane

[janoos]

When she says " 3 months that's so long" that tells you she is used to making snap decisions without thinking them through. Strategy he gave her would dramatically improve her life in 6 months.

[sganet_]

I’d like to buy a life insurance policy for Caleb. Dealing with irresponsible people like this just seems like an aneurysm is just waiting to happen. 🥴

[Commenter]

Seems like her main fear is losing her social life, regardless of how temporary it is.
Not only would selling the car get that loan off her back, but it would show her mom that she is serious.
She might be able to convince mom to give her a few months off from paying rent if she can show her that the money would be going towards paying off debt and improving her future.

[torddon]

This is a great example as to why they need to make it mandatory to take a finance management class in high school instead of it being just an elective. Financing your down-payment? Like what??

[lakeishag]

It’s so funny to see how stressed Caleb gets in these videos 😂 so many of us enter adulthood with no financial literacy, myself included. These really make me think about my money differently.

[kylestrating]

Mortgage banker here. Definitely like how open and blunt you were regarding her financial situation. So sad how casual people can be regarding their finances and ignorant to how big of a hole they’ve dug themselves. Definitely feel like financial habits are often times inherited and how refreshing it is that if you can help one person make better decisions it can have generational impacts. Nice work.

[Helthurian]

"3 months, that's so long!" Is a quote that exemplifies why a lot of people are struggling. Some aren't taught, but some just can't see the big picture. It's really sad.