“This Keeps You POOR!” Caleb Hammer Reveals The WORST Money Traps To Avoid In 2025
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January 26, 2025
TLDR: Discusses common money habits, audit findings, and financial missteps. Offers tips on improving finances and avoiding exploitation. Covers side hustles, tips, dating apps, and relationships. Features discussions on life goals, handling criticism, and quitting YouTube.

In the latest episode of the podcast, Caleb Hammer shares his insights about the most detrimental money habits that keep individuals impoverished. As he gears up for potential economic changes in 2025, he underscores the importance of taking responsibility for one’s financial situation and recognizing the common mistakes that may seem trivial but have long-term consequences.
Core Topics Covered
Understanding Common Financial Errors
- Worst Money Habits: Caleb discusses the habits that lead most people to a cycle of poverty, such as ignoring credit card debt and not understanding interest rates, ultimately leading to severe consequences.
- Audit Findings: He elaborates on prevalent findings during financial audits, emphasizing that many individuals bury their heads in the sand regarding their financial situations, often discovering unwanted subscriptions that contribute to their struggles.
Accountability and Responsibility
- Taking Responsibility: A recurring theme is the necessity for individuals to accept responsibility for their finances and not fall into a victim mentality. Caleb stresses that acknowledgment is key to making necessary changes.
- Discipline Over Small Purchases: He highlights how often people justify small, frivolous expenses instead of tracking their overall spending, which contributes to larger financial woes.
Insights from Human Behavior
The Effect of Human Nature on Finance
- Lessons from Human Nature: Caleb reflects on how societal influences have fostered entitlement mentalities, where people often believe they deserve certain luxuries despite their financial situations.
- Financial Discussions in Relationships: He notes the prevalent issue of toxicity in financial discussions between partners, often inciting arguments rather than constructive conversations.
Practical Applications
Strategies for Improvement
- Effective Budgeting: Caleb advocates for the importance of starting with a simple budget as the cornerstone of financial health. Recognizing income and expenses is essential for anyone trying to improve their financial situation.
- Importance of Emergency Funds: He emphasizes having an emergency fund to avoid falling back into debt during unforeseen circumstances.
Debunking Common Misconceptions
- Side Hustles: When asked about the validity of side hustles, Caleb responds that they can be effective, particularly for those without enough monthly financial wiggle room.
- Cash Stuffing Systems: He notes the rising trend of cash stuffing as a potential solution for those struggling with digital spending but warns that it may not suit everyone’s money management style.
Closing Thoughts
Caleb Hammer’s discussion is a stark reminder of the financial traps many can fall into if they remain unaware or unaccountable. By focusing on structure, communication, and discipline, he inspires listeners to take actionable steps toward securing their financial futures. As 2025 approaches, it is crucial to reflect on spending habits, prioritize meaningful conversations about finances, and take deliberate steps to avoid falling prey to common money traps.
Takeaways
- Understand and address your relationship with money openly.
- Create and stick to a budget to gain control over your finances.
- Establish an emergency fund to guard against unexpected costs.
- Recognize that small purchases add up and can derail long-term financial goals.
- Aim for financial discipline to cultivate a healthy spending mindset.
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It only takes a couple things to be successful. What are those things? Why'd you get into the debt in the first place? The bottom car for no reason. No, no, no, no. You really become the Gordon Ramsay of personal finance. Why'd you get laid off? I scared all the dogs that they all have. That wasn't very nice. That makes sense. What do you find to be the common thing keeping most people broke? It's only five bucks, though. Five percent interest, yes!
A lot of people don't understand how interest actually works. I think there's so many cards. And there's $2,000 of Disney Land tickets after that. Another ticket. What is happening?
Any time anyone just sits and it's just like they won't take responsibility for literally one thing, that pisses me off. No, no, no, no, objectively no. First document right here. And when I always try to tell people when they're not willing to change on the show, I'm just like, okay, go do it. I don't care. But I'm having the conversation of here's what you should do to actually get your finances in order. Is it true you're really gonna quit YouTube?
Caleb, thank you so much for coming on the iced coffee hour. Really appreciate it. Thanks guys. Welcome back to Austin. I always love having my dudes in town. Thank you. We always have a lot of fun and it's interesting because over the last year, you really become the Gordon Ramsay of Personal Finance. Sure. And I'm curious what guest have you had on that's made you the most upset? No. Having the tequito man himself back, Britton Davie,
coming on, trying to pretend like the whole thing is a victim complex, everything that all the choices that he's making, anytime anyone just sits and it's just like they won't take responsibility for literally one thing, everything is against them and they have no control, which is his ultimate mindset and everything. That pisses me off and that's what pissed me off about him. People can insult me all day, people can insult me all day and he tried, he tried, people tried.
but that's what upsets me when people just refuse to take at least one answer. All right, now I'm curious, what is outside of someone's control that you think when they say that, okay, you know what, this person does have a point. Yeah, absolutely. I mean, mental health things is a huge thing, right? So there are some mental health things, of course, that's where you're like, okay, well, what should I do? I should probably go see someone, you know, I should probably, you know,
See an expert, talk to people around me, try to surround myself with a good community. That's something you might not have control over. Maybe you don't have a good family. We did have one person that was raised in the
or an orphanage community. Um, I guess there's no, no parent and they, they were never adopted and they kind of just got dropped off in a town at 18. So that was, that was, he was on his own from there and that he didn't have control over. He didn't have control if he was going to get adopted or if he was raised by love and parents. So he didn't really, he doesn't have that community, but you know,
We live in the world where if that happens, whatever you're dealt with, that is kind of what you have to deal with. And then what you choose to do from there is still kind of up to you. But obviously we should support each other and help each other. And that's what we try to do for him. And we've connected him to resources and wearing his corner whenever he has any questions. Yeah. So being raised, of course, there's been some people that have had family trauma.
Everything childhood related I feel like is like, that's what's beyond control. Obviously natural disaster stuff that feels like beyond your control, but also make sure you have the right insurances. Like there are some things you can do more in adulthood that helps alleviate some of the things you can't control necessarily if your company fails and you get laid off, but you can control if you have an emergency fund before that. You can't control if your pet gets sick, but you can control if you have pet insurance. So it's more how people are raised and whether or not they have a community.
And obviously there's some addiction things where it's like, yes, you see someone who has addiction and you're like, oh, let's go get help. It's obviously more complicated than that. So that, I mean, that's just a little extra hand holding a little extra support. We had one person who was addicted to drugs of the crystal variant and, you know, ended up.
going to rehab and we've been in touch with him helping him and we got him set up. Well, actually, there's a promise if he was like clean for a few months, you know, we'd give him some money to help pay off some of the debt and we did that. That's cool. Yeah. So, yeah, you know, but obviously it's still more difficult to get out of an addiction thing than just pay off some debt. So.
But he still had the control to go to rehab and he made that decision. Yeah. And what are some of the worst things you've seen people do with their money? Well, I've definitely seen people fuck up their relationships by purchasing only fans. That's been interesting. It's the relationship ending things or it's just like, why would you do this? First of all, how does that come up in an audit? Do they not hide this in their bank statements or they go in knowing that like I'm paying for only fans and my wife is here and you're going to call me out on this? What are they thinking?
I think we've had a couple of guests now that they confess to their wife because it's the dude that's getting there. They confess to their wife on the drive over here. They're like, this is going to come up in the finances. I need to tell you. Yeah, that's dumb. We definitely had one wife. They all use fake names. I don't remember anyone's name, but she was visibly upset.
that the dude, I was calling only fans, only fans, only fans, only fans. The episode we just uploaded today in the host show, now that this is kind of distant to the host show, dude and his friends collectively put hundreds of dollars together so they can subscribe to OnlyFans. Grim, you need to get some friends like that, save you some money. I'm really happy that's the way to do it. I didn't realize I could even do that. That's incredible. Wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait.
Pulling money together to do it through him or what was it they could all use one account and subscribe why people would you rather have a group are right now. We're about that a lot of genius, but why the would you rather go with a lot more thought to that and it's probably. When she found out really bad for them now they say he's clean however again.
This just got uploaded today. People are reading into the episode and I do not want to make an accusation, but just reading the comments. He claims that he has to go to a store and buy a new charger or a phone charger because he works on the road three times a week.
which blew everyone's mind. We didn't understand. So was it was it visas or something that he's buying? Maybe to continue that potential addiction. Is that an addiction at that point or is it just like he has a he just enjoys three times a week hiding it from the wife? Not I'm not accusing him of doing that.
It is still don't understand the breaking multiple charges a week though. So he was saying on the show that it was, you know, charges. I feel like that's, I hate to say it. I feel like that's an easy cop out when your wife finds out and be like, no, sorry, I have an addiction.
Because then it's like, now it's not you anymore. It's like, hey, I'm consumed by this addiction. And that kind of alleviates some of the concern with the wife, some of the rhythm. It's really hard to tell, and I'm sure you've had plenty of experiences, and we're going to go into it between people actually, should they be taking responsibility for the things that happen to them, or should they not be? Are they a victim, or are they just someone who lacks discipline? That's a very, very hard line to draw.
a lot of the people they've just never been called out in their life. You can tell they just haven't really been called out. So they hear that pushback for the first time someone really given them just like no bullshit. This is what I think and kind of my more brutalistic way because I know, you know, I'm my special way with words.
And you can see that their immediate instant coat mechanism is, well, it's because of this. I'll never talk to this. Here's, you know, everything's against me. And also, but you can see that start to fade away as we record for like an hour and a half. It starts to fade away. And you see a little more acceptance. You see a little more emotion in their face as they really start, we go document, document, document, almost everyone, almost everyone I talk to after we stop recording this says that was worse than I thought. They come in thinking it was better.
than it really was, and you can see that in their face throughout the episode. I don't know if that's reflected on camera, but when I'm sitting here, how many audits have you filmed now? But before we get into that, let's talk about rent for a second. Isn't it crazy that it's probably your biggest expense, and yet you get nothing in return? Will all of that change with built rewards?
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Dude, I have no idea. We tried to film four to five a week. You're in probably the mid-hundreds at this point? Yeah. After auditing the finances of hundreds of people, what do you find to be the common thing keeping most people broke? A lot of people don't understand how interest actually works on their credit cards.
And even when they do kind of understand it, since a lot of people, they always say, oh, but I didn't look at it. I don't want to look at it because it's too scary. It's easier to just let it be and not think about it. I don't know. I call their interest right now. And I'm like, this is 30%. They're like, I thought this was 12%.
do you even know the difference at that point at that point they do understand most of them at least understand that difference once they at least understand interest everyone's wrong explain it's just and that's okay uh... but that's definitely the common threat i see throughout is a lot of people want to bury their head in the sand because it just gets so scary
So they just bury, but then it gets worse. And that ends in the situation where there's been a few guests this year where I don't see anything but bankruptcy being the only option. And you know, those people specifically where I can't figure out anything on the basic level, we set them up with the financial advisor that we partner with. Well, that is definitely the common thread is they just put their head in the sand, they're scared and it just ends up getting worse. And then they have no idea how bad the debt even is. And not even that, they put their head in the sand so much that they will sit here and they'll say,
No, you'll be having to know that I didn't purchase on that credit card. Yeah, it's been like six months since I purchased on the credit card.
I open it. There's like five subscriptions renewing. They have no idea. And are those people or any of those people that you audit that are in really bad financial situations, also the type of person to skimp out on small purchases? I feel like you can really draw a line between two kinds of people, the people that are very disciplined with like the small things. I'm not going to go get a coffee. I'm going to knock it avocado. I'm not going to get bacon because it's adding a few dollars. And then the other people that are like, eh, it doesn't matter. It doesn't matter. Do you see a common thread there where like you really don't see that archetype of human that saves on those small things to be really in financial strife.
I don't see anyone that doesn't get the small purchases. I feel like our show always has the small purchases, and they always think that they're getting, they're going out to eat like once, twice a week, and then I show them that they get a coffee in the morning, and then a vending machine during the day, and then a dinner at night, almost every day. So it's just that they think they're not making small purchases, but they do. Well, what are small purchases okay? Because I saw some hate that you got maybe about a month or two ago.
Spotify wasn't that yeah i think it actually was you told someone not to do the spotify yeah when they said listen it's like nine dollars a month to eleven dollars a month it's like the only thing i enjoy like no you need to cut everything you you have no room for enjoyment.
Yeah. Looking back, do you think that maybe there was some room for enjoyment or no? Like it's an all or nothing? No, I give people, it's not all or nothing. I give people all the time some room. I gave the episode we recorded today. I gave it 20 bucks a month for subscriptions. There are people that I do give room on when they have room, when people are literally
going to potentially get evicted from an apartment because they only have 50 hours left after I give them the most conservative budget. They have $50 left on a monthly basis. I think they can listen ads. Now, do I care if someone gets Spotify specifically? No. It just becomes an example throughout where it's like, hey, we can sacrifice something. It's not about Spotify. It's about the example of we can sacrifice. If they want to keep Spotify, they can keep Spotify. I think your point that I actually agreed with was that they could get Spotify with the ads.
just listen to the ads. Or just YouTube. YouTube has everything that Spotify already. I do YouTube. Apparently the ads are a lot worse on Spotify. The features on premium, apparently you can't even like skip a lot of songs anymore. Things apparently free Spotify is pretty shitty. But again, it's never been about Spotify. The reason why we kind of made Spotify kind of like almost a meme to always call out is because people would work good with me telling them to cut back. And the moment they heard Spotify, they would always perk up and almost be offended that I understand.
simplest of things that people should be able to afford. Oh, it's just listening to music. It's not even like television. It's just audible. It's auditory. So I feel like really coming after that, it's like attacking what people think as like a basic human necessity. But it's also cheap. When you think of over the course of a month, if like, if you're not getting much enjoyment anywhere else in life, but Spotify is giving it. But it's more expensive if you're paying interest on that because you're not paying it off and you're putting it on a credit card and even paying 50% interest on $12 a month. Like isn't that bad in the big picture?
If you work an extra hour at their job, but I think you would also probably agree with the sentiment that it's not necessarily about the $9.99 in the 50% of that, but it's the string of actions. That's a total mentality of the $9.99. Oh, it's not a big deal. Oh, the $3 Starbucks is not a big deal. Oh, this isn't a big deal, but it adds up.
And that's why I push back on that. And that's why I find it really interesting that you rarely ever see people struggling that are the type to skip out on those small little purchases. That's very interesting. No, we don't get those people, because we only have people on there struggling and we never have the people who are trying to be frugal on small purchases. What have you noticed about human nature, not only auditing the finances of hundreds of people, but also just talking to 500 people that open up to you?
Yeah, definitely some sense of entitlement. And I hate saying that word because a lot of it gets politically charged, you know, when you hear the word entitlement in our culture, it's, you know, politically charged. But a lot of people think that
They had a hard day at work and are entitled to pick up the meal, and sure, they can do it. And when I always try to tell people when they're not willing to change on the show, I'm just like, OK, go do it. I don't care. Go do it. But I'm having the conversation of, oh, here's what you should do to actually get your finances in order.
But a lot of people, they had a tired day of work, you know, maybe make it even more complicated with a little extra school, make it even more complicated by having some kids. And it says they deserve the sweet treat, all that stuff. And I want them to get the sweet treat. I want them to spend 30% of their money on their sweet treat once they're out of debt and have a fully funded emergency fund.
But I, there's, I've picked up on a lot of that entitlement thinking that it's more of a deserve than a, let's just put in a little bit of sacrifice and then let's get all the sweet treats you want. So a lot, yeah. Where does that come from? Total guess. But just based on how I grew up and based on the culture and probably the consumerism culture, you know, we are.
median household income in the United States or GDP per capita is double the United Kingdom. So it's like we have that extra money more typically than those other countries to just go blow it on things. We see the commercials. We got everything. It's in our culture. You get the McDonald's because you want the ice cream, you know, you get it. It's a nice day out.
This is the actual little things. Should have that yearly trip somewhere.
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I feel really bad saying this. I genuinely do, but it's just my honest thoughts. So obviously, you know, when we have a guest on the show, we researched them a lot. So I was watching a ton of your videos. I'd seen a lot in the past, but I'm just like, I would say re-watching a lot of stuff. And I noticed I kept getting very honestly kind of upset, like a little bit angry because a lot of the guests, like I would not,
it'd be rare for me to feel sympathy for them. And I know this sounds awful to say because these are people in bad situations, they're struggling financially, they're not coming from a good spot, but it seems like similar to what you said, it's like, oh, because this, oh, because this, because this, because this, and I'm thinking like, is there no sense of personal responsibility for- How far did you make it in the episodes? I'm curious. I mean, your episodes are long now, like hour and a half, so I probably watched
Six episodes all the way through all the way through did you see towards the end though? I feel this doesn't happen for all of them But a lot of them that I see these days they really start with that because again, they've never been pushed back on also They've never been on camera. They're literally random people you know, they're in the audience typically I do notice a small resolve at the end after being berated, you know for like Well, it's cuz they've never had it they also just
We do story times and stuff and, you know, to get more context on their life. But once you start getting halfway through the document pile, it really starts to set on them, how bad it is worse than they thought it was. And we can see it after the show, and then we filmed the post show, and that's an extra 20 minutes. And you can just see, they're just like, oh, I can't believe how bad that was. I had no idea.
So, would you find yourself being sympathetic towards the guests that you have sometimes on your show or what's the general, how do you feel about it? Yeah. Well, definitely more sympathy towards the uncontrollables that we talked about earlier. The uncontrollables, absolutely. Lots of, definitely sympathy towards them and then, you know, usually we give them an extra helping hand. But sympathy of
I can't get Chick-fil-A after work. Not a little less. Usually when people have kids and they have to cut back on special things for the kids, just temporarily, that's definitely where I feel more of a heart on that. But when it's just a single person just trying to really grind it out for like a year, that's hard for me to. Actually, I have less sympathy when we get to the end, we make a budget and they have thousands left over.
This is just the dumb. There's no reason to be in this kind of debt. You could literally fix this in a few months. And we recorded like four of those in a row a few weeks ago. And I was just like, I had no sympathy at the end. It's like, dude, just fucking do this. This is the dumbest thing in the world that you're not doing. How long does it take to break through to people? And what do you have to do to get to that point? I start to see it at about 45 minutes, 45 minutes into the episode. Anything you're doing in particular or it's just like, you gotta like keep like chipping away, chipping away in the 35 minutes and they break down.
That seems to be the philosophy. You know, you find the things to relate to them. I learn more things about their family, more things about their personal life, and you can start relating things to it and the consequences of their actions and who they might be affecting. If I learn they have a kid, you know, I demonstrate that older kids going to feel morally obligated to take care of them. At some point, if they don't actually get their shit together now,
Because I don't think any of us would let our parents literally become a homeless, you know, if they don't have retirement, but we didn't choose to come to the world either. So it's like, why put that on your kids? So I find something related to, and then he had chipping away and usually about 45 minutes in were most of the way through the documents. And that's where the numbers really start to stack. So.
It's just I think it's just all that becomes a little overwhelming, good overwhelming, hopefully, and you start to see some emotion and they even get quieter in that moment usually. And yeah, that's when they start to be more receptive to things. So what are the items that are keeping people poor the most?
that you notice.
you know seven-year eight-year loan twenty five percent so they can pick up groceries video and this is real this guy got a Lamborghini Gallardo and he went through his expenses on like here's how much it costs to buy a Lamborghini Gallardo great car by the way like fantastic for resale value. I believe he put almost no money down but he got a hundred and forty month.
car loan on this 12 years is about 12 years. And I was thinking like the average auto loan rate for a used car that's that old because these cars were built from like 2004 to like I think it was like 2012 something like that give or take. But for used cars over four years old, the interest rates have to be minimum 7% like at the lowest. And I was doing like some backwards calculations to figure out like how much she's paying an interest or there's like it makes no sense.
But I want to get that guy on the show. But he has the car. Yeah. The thing is, it's he seemed like a really bright, smart guy. Okay. That was the one thing. Maybe he got to celebrate somehow though.
There's no way you're getting it. Not that I was better than 6% on a 12 month. It's impossible. Yeah, that's crazy. Should get him on. That would be interesting. I always wondered, it would be kind of cool rather than people that apply to go on the show, like you just go on the street and just like go up to someone working to McDonald's job or something like that and just approach them. That's so hard. Because that's a little bit more true, I feel like. Yeah. Well, I mean, that would be.
I mean, it is all true, but it's just, I don't know, because people get on such a big... There is a bit of a moral dilemma. We want to make sure that the people coming on, the amount of onboarding they come on before, coming on the show, but we couldn't do that with someone on the street, you know? Right. But it makes sense for you not going up to random people, just give any audience size at this point.
Where do you draw the line between people who think that you exploit poor people versus offering true criticism and helping them with tough love? With the amount of times that we have on phone calls with them, an onboarding video that sent to them before they come on, an onboarding video they're forced to watch in the green room before they come on, the amount of stuff we say, hey, dude,
You're about to get shit on in front of a bunch of people. Don't do this if you don't want to do it. We won't be offended. Don't do it. Tell us now. They get that chance like five times before they ever come on. That's why we actually have a lot of people cancel right before, which is okay. What we say cancels.
We put four on the calendar, we could say one cancels, one to two a week. So how many people apply towards how many people actually get on the show? Now we get a lot more applications. This is where targeting our audience on TikTok and meta. But that's specifically targeted our audience still. Now we have a lot more applications. I don't know what we're getting.
We call so 100 applications a day. I don't know. Wow. I don't know. A lot of people want to come on. Yeah. I think a majority of it is kind of just jerking them off off a little. A lot of people want to come on. They want to talk about their multi-million dollar portfolio or something, but it's a pretty limited selection. If we were like Lindsey could have
pretty much anyone with that come on, but that would get, we already have kind of relatively repetitive show. It would get uber repetitive, we'd just let anyone and anyone and anyone. So we want to make sure we at least get interesting stories and more diverse selections of what is happening. How do you know what to pick for it to not become repetitive?
Well, that's why I hired Lindsay. She's a beast. Her and Jake and eventually want our new junior producers as well. They just have so many conversations with them, so many conversations going through their life and just trying to understand them.
See where their head space is at, see what their opinions on things are, and just making sure that it's not someone coming on who just spends at McDonald's and that's their only thing. I put it in their hands and I trust them and they've been delivering. How do you verify all the information that they say is accurate? Statements. Financially, it's in their statements and they send credit karma screenshots as well.
So that, for sure, life things, it's a little hard to tell. We definitely get one side of the story. And I've gotten in trouble a couple times for that, where it's like, someone will tell a big trauma dump or something, which is very fair. Go ahead. And I'm like, I instinctively play devil's advocate, but when we're not here on the other side, so I just want to be a little cautious. But then it's almost like it might deny someone's experience. That's kind of what I heard a few times.
I don't know. That's a little difficult, but we can't verify that stuff's true. That's fair. That gets dicey. On the top of credit cards, do you think the average person uses them appropriately, or would you say, for the most part, it's just a bad average person? Yeah. Oh, dude, I don't know the statistics around this, but well, I guess we know the median balances in the thousands, right? So I'm sure the average person
Oh, the average credit card debt right now, I think, is like $6,000. Like $6,600. The average person. The average, yes. So is that the average credit card debt? And then that's, you put that per, so you assign, divide by 330 million or whatever. Well, not everyone has a credit card. I know I'm saying the amount of people, the average person with a credit card has a balance of, I believe it was $6,600.
I did a video similar to this about the American debt. The savings rate is 3% right now. For the average American, 3%. And if they're making $65,000 a year, they're saving like $2,000 a year. And they have a credit card balance of $6,600. There's no way to pay it off. Physically, it just doesn't work. Do you think then that it could be irresponsible to advocate for credit cards for something that generally is bad?
I don't know, man. That's kind of the same thing. Someone could get addicted to that coffee right there. I don't drink, but I don't care if people drink. Someone could get addicted to it. I don't know. That's why I always just say use credit cards only if you're a credit card person. If you can demonstrate that you can budget and pay your bills correctly for at least a quarter, then maybe give yourself like an intro credit card, right? You really got to do it safely. It's a tool.
But just like any other tool in construction, dude, you can get your head caved in. So just got to be safe. I don't like super advocate for cartoons. I wouldn't say either. I'm not like, I'm not. Dude, if you looked at my wallet, you'd be so bored as like a credit card person. I'm like nothing. I got like just a couple of credit cards that make sense. That's from a business credit. It's just like, I'm not a super big advocate. I like them because I can utilize them and I like to finesse a little, but I'm not like, go get a credit card, go get a credit card, go get a credit card.
but credit scores. I know, I know our boy Dave isn't, he doesn't think credit scores are the biggest thing in the world, but no, underwriting, you've really got to find like
The right institution for that definitely becomes less convenient, especially for apartment hunting. Then again, maybe I am advocating for smart credit card usage and training from parents to kids so that they can build a good credit so when they go to least their own place without any roommates or co-signers or whatever, that they're able to get it. You know what they're going to do at some point?
Because I have a feeling that credit card usage and interest rates are going to be an issue over the next probably 10 years in terms of like Congress and senators and they're going to look into this. I have a feeling at some point they're going to mandate credit card companies require a test before you get the credit card. I did basic like is a 24% interest rate when you have a thousand are debt. What is that? You have to like select the dollar amount.
We're like, is your credit going to take a hit if you don't pay it off after 30 days? Like all these questions. And if you answer like five questions correctly, like basic beginner level questions, then you get the credit card because they do that with stock trading. When you set up for Robinhood options, you have to answer a few stupid basic questions that a monkey could answer, but they're questions. So at least it's Robin and hey, we did our job. We did something.
I think a credit card should do that if people are taking out loans. I remember the one that you had on your show didn't understand what the credit card interest rate was and thought that was her limit or there was a weird one like that, right? She just didn't understand what it was, the 20%. She's like, oh, I thought this is how much I could spend.
A lot of them, they think their 2% cashback is beating their 30% interest. For the average viewer out there that's trying to improve their finances, what are some things that you would just generally recommend for them to be in a better financial spot? It's just the start with just the basic budget. Literally any budgeting app, I have some preferences, but literally any budgeting app,
I have an extra preference towards simpler budget because you just got to do the simple things. That's what a lot of people fail on is a lot of people try to get the craziest spreadsheet.
A lot of people try to get, you know, download the, you need a budget and then it's like a trillion billion things. Literally just the basic start of setting up the budget, understanding just what you're even income is. People can even answer the damn income question sometimes. And then just understanding what's going out. I, when they, it always blows their mind when I tell them how much they're spending versus how much is coming in and they have no idea. So those are just creating that simpler budget. That's why we made the simpler budget app.
just for the basics. If we were just getting started, we want to change the life, take control from the first time. It's just that basic thing, dude. Starting with the budget from there. But then it's just the foundations, right? What are the goals you're trying to hit? Got to get that emergency fund where we're trying to pay off high interest debt. You know, what's our life situation looking like at that time? Do we need to make sure we have a little extra cushion before paying off that debt because we have kids? You got from there, but you got to start with the budget. People just don't know how much money's going in and out.
I remember back in college, I did this, where I created a mock budget for a fake family that lives. It was a husband and wife, or boyfriend, girlfriend, whatever, two people, and they had a child, and they were affording a car, gas, I allocated a budget towards rent, towards X, and I found an actual place, everything. Even childcare, I got the average healthcare costs, I got food budget costs from the census.
everything, and they were able to still save. It was like $5,000 a year, which is a pretty substantial amount. And that's not accounting for any growth and income, just working standard hours. And I remember I got in college, went into this presentation. So many people were like giving me backlash from this, but it's so weird. It's like, am I then supposed to instead say, oh, if this is your situation, you're screwed.
There's nothing you can do. Yeah, I know. You know what I mean? It's like, okay, well, if you do the right things, then good things will happen. But the only other thing, the thing that people want you to say is that, oh, there's nothing you can do, you're screwed. I mean, that's definitely easier. It's the put the head in the sand. It's easier to assume that everything's doomed and gloom. Why work?
I make it why put in an effort, why sacrifice live uncomfortably for a second. I mean, there are real situations to acknowledge of, you know, like I've had a few people that live in pretty shitty situations and like fuck, I don't know if they can afford to get out of there. I think it's also important for people to probably know their rights as tenants as well. I had someone, I think it was the person I was talking about earlier that
where they were in orphaned their entire life. They live in a place where he literally can't stay on the shower because you fall through. You need to know your rights and just talk. Actually, I think we sent them links to pro bonos, people that would be interested in pro bono work in that space. It's important for people to know their rights as well if they are getting fucked.
People think there are situations that are fucked. Just know your rights. There's laws in place for a reason. A lot of people just don't know. What do you think about cash stuffing and envelopes? For some people, they need that little extra help. If it's digital, they can't track it.
For me, I can't track it if it's cash. I need the digital number. If a dollar goes down on my bank account, I'm like, ooh, but if a dollar goes out physically, it doesn't exist. But yeah, some people, if it's digital, they have no control. So envelope systems been recommended a few times on the show, quite a few times. But what do you say to the people who want to get a side hustle? How often is it actually worth it?
It's worth it when it's really worth it when they don't have that wiggle room on the tightest budget. No Spotify with ad free. Even with all that, they only have a hundred dollars left on a monthly basis. And like mathematically, it's going to take them, you know, 10 years to pay it off or they could go through bankruptcy and then it's on for seven or 10 years, you know, it's just like, okay. Uh, at that point, if they can literally bring in an extra $500 a month,
I could like, more than double their progress towards paying off that. What do you think is the best side hustle? I mean, I just recommend people getting the job as quick as possible. I know during the pandemic, there was some, you know, Uber Eats and Ubering was pretty good. It's not as good anymore. It's a little hard. It's kind of, isn't it like kind of the, it's a low percentage that's actually making good money on it versus everyone else. Dude, I'm telling people, there's a coffee shop up the street. I talked to the manager, you know, I see him off and he's like,
I need to hire people. We're hiring people at 18 bucks an hour. Please send your guests here. Please send them. And I'm like, that's pretty good for a coffee shop now. Yeah, I go. Go for some coffee. Go. I don't know. That's pretty good. And like they're desperate to hire people. They will work schedules out. Well, they'll figure it out. If it doesn't work, it doesn't work. Try the place next door. Service is still.
backfilling in a lot of cities. Not as much as before. Interesting. But there's still backfilling. I know tech's hard. You can't just go out and get a random side gig as easily in tech or anything. But if you work a little service for a bit, that's not a huge issue. Anything with tips.
Tips can bring in some really good money. Actually, just ask a few questions. True. Flip this thing over real quick. How much do you tip if you go into a place like at Chipotle? Chipotle? Where they make the food in front of you, but you're not sitting down and eating. What's the appropriate tip on that? Percentage. Coffee shop, I always give a tip.
Food delivery always give a tip. Restaurant, I give a great tip. Yes, yes, yes, yes. I give 30% at restaurants. But for like whatever Chipotle like a fast casual sort of dining experience, because it's not an 18%er because we're not- Is it a good tip at Chipotle? The way I see it is it's dependent on multiple different variables. If they serve, they have good service, then I'm tipping. But also if they flip that screen over and the first button is 20%, that makes me upset.
Is it for twenty percent? I always see fifteen. No, no, no, no. A lot of the times they'll flip it over and the top, the first thing that the lowest you can tip is twenty percent. And that will, like, there's always an other button though.
Yes, you can, but I'm just saying, like when they provide you with three things, because no one's very few people go to the custom tip usually do, you know, the three 20, 25, 30 or 15, 20, 25. And if it starts out at 20, then that for some reason, I don't know, I'm thinking to myself, like that's what a lot of people tip at restaurants. And I would say there's a big delta between, you know, the service that's provided at a restaurant versus taking an order and obviously it gets split with the chefs and stuff like that.
I mean, there's like kiosks and stuff when I go to like a concert and I get like a little snack there and it's just I pick it up from a roller. Yeah. And then it's asking for a tip. I smuff a punch that no tip button. Yeah, because nothing was there. I didn't see human. I even see someone. So I don't even know what's happening, but yeah, I don't know.
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Cards issued by Sutton Bank member FDIC terms and conditions apply. Thank you so much to ramp for sponsoring this episode. So what are most people getting wrong about personal finance? Probably the behavior part. A lot of people think it's exotic control. You know, we kind of talked about it already. It's just like, oh, everyone just says, oh, they deserve or has decided my control so much as behavior. You see it in the numbers. I mean, $900 spent on DoorDash in today's episode. Did you really need to DoorDash $900 in a month when you literally couldn't pay for a
$400 collection. So it's impossible to have an extra $400. Okay. Like you do. It's like it gets control so much more behavior than people think. Do you ever have a problem relating to some people who are on their show who are in situations that you have not been in yet? Like let's say a single mother with three kids, is that hard for you to like help her given that you haven't been in a situation like that yourself?
Um, yeah, I think anything that I haven't been in, it's always going to be a little harder. I try to relate it to people I know in my life, family members or friends who've been through certain things, you know, um, like I wasn't raised in a single family household, but I know people who have been in, I've had conversations that I tried to try to relate it in some kind of way. And I try to at least listen and be empathetic, even though I'm known for interrupting. I try, I think the big, the big hard ones, I feel like it can relate to that pretty okay. The big hard ones are someone that
Again, if it's like, I've never been in or known anyone that's been in like horribly abusive situation. I don't know how to relate to that. Never been in it and I don't know people in it. And if I do, I don't know it because they don't want to talk about it. Yeah, there's that heartbreaking Dave Ramsey call. I remember that where someone was in an abusive situation and she called and Dave Ramsey like, do you need help? And she's like, yes. Oh, yes. And he told her to, we're going to call 911 for you, like stay on the line. That was,
Awful. I can't relate to that. That's hard. That's really hard. But that's usually when we try to connect them with different resources as well. What percentage of just the general, what you've seen come on your show can be solved with some more financial literacy and discipline versus the stuff that realistically these people are going to need a file for bankruptcy and take extremely drastic measures to completely reset? Vast majority. Vast majority. I'd say only 5% this year that we've uploaded like any reason that extreme like bankruptcy is like the only option or
So, one out of the last one, and the people that come on your show are probably a representation of some of the people that are lower on the scale of just general financial status. Absolutely. So, we're talking a very small percentage of people you would say are actually financially screwed. Oh, well, I don't know about that. Again, when we go back to the, what, average American doesn't have a thousand, can't afford a thousand-hour emergency.
Or the $6,000 credit card balance. A lot of people financially fuck. A lot of people don't have even close enough for retirement. Like a lot of people are financially fucked. As dire as what we have on the show for the average or the median American, no, we're definitely on the lower half because, you know, we want it to be a challenge. We want it to be more interesting, you know, it's definitely, uh, but it's.
These are still the people you're working with. They're the people you're walking next to on the street. There are people in your family talking about money's taboo in the country. So it's like, we don't know until they come on here. So many people actually have come on the show. They send us or we, we talked to them in a follow up and they're like, yeah, like my coworkers knew I was coming on the show and stuff, but they were so surprised at how bad my finances were. And it says, we don't know. Now on their side, what's the most difficult part about being poor or broke?
Yeah, when you don't have an emergency fund, that's where things can get fucked. I mean, what happens? You know, pet gets sick. No, that gets scary. That's got to be the worst, honestly, for a pet. Yeah. It's expensive. I had to take Bailey and she had a little limp. Apparently she had a sprain. It was almost a thousand dollars, a thousand dollars for medication for them to look at it and do an x-ray. I did 30,000 recently. Wow. 30,000 multiple surgeries on my
on my great pair of knees. What happened? She ate a toy. This small little piece of a ball. Do you have insurance? I do. Save me 20. Because I think that was the cap. It was still 10. But busted up her intestine, so it exploded, and then sepsis and stuff. How is it? How's the dog?
Oh, she's great. She's great now. She's great now, but it was a $30,000 surgery. Yeah, it was so hard to catch because usually they were telling me like that blockage and stuff. It's like they can't keep down any food. They can't, you know, this is a diarrhea and vomit, but she wasn't really showing that many symptoms. How did you know?
So because she like show symptoms and then she'd be fine for a few days and then symptoms and then fine for your days. And I was like, okay, well, that's it. I said, send in, they sent her home saying nothing was wrong after x-rays. And then a week later after symptoms like kept popping up, I'm like, okay, something's happened. And she was acting slow and I brought her over and that's when they realized this split open and how that was hard to make it a different.
Mmm scanner. Oh, yeah, they went with the ultrasound. Oh, okay. Yeah, why do I think that this was the second time this had happened? Yes, because it is because that's why she has to she looks like a big scary dog every time she goes outside alone now because she wears a
What's it called muscle, but it's not because she bites because she each so why i don't know do she's obsessed she's obsessed apparently i was talking to one of the vets there and her great parents does the same so she just she's is that a breed thing to like see something and just want to eat it my other dog doesn't my other dog true sticks but spit some out you know.
I choose on bones and stuff. I spit it out, but I'm in. She's crazy. So I'm telling people it feels so fucking mean. It feels so mean. But I've started to come to the mindset where like if you cannot afford pet insurance, you cannot afford a pet. Because if you can't afford to pay for a lifesaving event, or even if you can't afford to pay to take them in and have them throw up, you know how they can do that little medication. If they can't afford to pay that, you can't afford a pet.
you can't cuz that is a privilege yeah they're your responsibility you're taking you're taking on that contract you know that moral contract yeah there was someone i knew uh... who had a pet didn't have pet insurance or it was something where the pet wouldn't be covered
The pet had an issue, and there was a 50-50 chance of survival, but it was gonna be a $20,000 surgery. 50-50 chance. That's what mine was right now. Didn't have any money. Took out a loan. Took out one of those, because they offer the payday services or whatever it is. Took out the loan, did the surgery. Pet didn't make it. Didn't make it. It was a 50% a no. So now not only have you lost your pet, but your $20,000 in debt,
on a payment plan for a pet that didn't make it. It just, that's got to suck. Because it's not like you want to say, oh 50-50, well, okay, let's save the money. You never want to just save the money for a pet. Probably even if there's like a 20% chance of survival. Probably want to take it.
gosh, that's gotta be sad. It's harder for a pet than it. I hate to say it. It's harder for a pet than a person because the pet really is entirely dependent on you. Unless it's like a cat instead of a child. Yeah, a child would be... But when something depends on you and it's like you're the one responsible for it,
You know, I use the one of the, I don't really, you know, get on like Reddit or anything anymore. But one thing I used to see back in the day, uh, with people just kept saying, Oh, cradle of yells at people for taking out credit cards to save their dog's life at the thing. And I've like, don't think I've ever yelled at that. I yell at the fact that they take out the credit card to, you know, do the vet bill.
but then they go and blow a shit ton of money on fast food instead of paying off the credit card. So I can never understood that criticism. I've never yelled at them saving their pet's life. Me on with them not paying off the card. Do it. If you don't have an emergency fund, do it. I would do it, but pay it off. Sacrifice for a bit and pay it off after you do it. How much is pet insurance?
It depends on, you know, the breed and age and stuff. Both of my pups are like, I think like 35, 40 a month. It's not bad at all. It's not bad. Well, I got them young and healthy. Oh, okay. Before she started going crazy with her. Do you think that's a good thing? Should I do that? I would. Really? I would. You're gonna, you're not gonna let a pet die.
You're not gonna let a pet fly. No, but you're not gonna want to spend 30,000 hours either. I don't know. I'll be 30 grand, I don't know. Yeah, she got quoted a while ago for a potential elective surgery that like, hey, she might need this at some point. I was like five grand and I was like, I don't know about that. She's fine. Who? What? Who, which one? Bailey. Oh, okay. Yeah. It was like apparently these dogs are sometimes born without like,
It's not so weird, a kneecap. And like her kneecap isn't fully developed on one leg. It's not an issue, but it might be an issue. And so it's like, do you want to do this? Have the surgery now for something that might not be an issue or.
not do it, and it might be an issue in the future, but it might not be. And I was like, well, if it becomes an issue, then we could address it a little bit. Yeah, if the penetrance, I think because of that, it might be a little more expensive, depending in, I think Bailey's plot five, four or four. Okay. So, yeah, it gets more expensive the older they get. I'd get it young. Get it young. You just got a cat, right? Yeah. Yes. Actually, I got a kitten too.
You're double catting. I'm double catting. So now you're triple catting, right? No, you're double. No, I was talking about the cat. Yeah. That's Ramsey GG is in your cat and then Bailey. Yes. GG is very cute. Yeah. She's on a fish. She is. Oh, yeah. The fish. Ton of fish. Oh, yeah. I don't think you pet insurance on fish. I don't even know if that's an option. That'd be pretty fun. That'd be interesting. Take insurance for the core idea. Gosh, that would be that would be great. You know, if your coral dies, we'll pay you for it.
I'm gonna ruin your retention right now for a quick second, so you can cut this if you want, but I was dating. No, no, no, I was going on multiple dates with someone, and she had a nice coral tank. It was just beautiful, lots of fish, coral. Then the big Texas freeze four years ago happened. It all died, everything died. That's my nightmare. If so, if a tank goes without electricity for like eight hours, pretty much everything dies.
And it depends on the temperature too, because the oxygen in the water, so the temperature can drop. That's okay up to low 70s, and things can survive from that. It's actually a lot better that the temperature goes down than go up. The temperature goes up too much, everything will die. It goes down a little bit more wiggle room there. But basically the fish just fixiate. There's just no oxygen in the water, no running water, and they'll just suffocate to death. Room gun's about 40 degrees.
For a week. Nothing, nothing to be done. Gotta get a generator. Yes. I ended up getting a generator for the tank. Smart. Yeah. They were actually a sponsor of a video and I used it. I plumbed it directly into the outlet, the breaker for the aquarium. That's so cool. That's so cool. So now it just takes over. It's electric, works great. Tank insurance. It's the new insurance. It's worth it. What was it like for you? What were the statements like when you were in the worst financial situation you've ever been in?
I would look at them. I don't know, but I do know this. When I was really bad early college, you know, I wanted my daily McD's. That was my dinner and I could physically afford it because I was also active. What I would do is just find a way just to make the payment necessary on a credit card. So I had enough at the credit card before it hit to the limit to go to McDonald's and
get that meal for that day. Because how could I cook? I couldn't cook. I needed my tendis. What was the meal? What would you get? Chicken tendis back when they did it. Tendis fries and probably a shake.
It's the shake. The shakes are the real like calorie. I wasn't bad back then though. I didn't mean anything because I was active walking around campus and stuff. Are you just less active now? Oh, yeah. I mean, just here, you know, at the studio, I'm going back and forth between the three units, but like, yeah, a lot less active now. Are you motivated at all to try to get in better shape?
To a certain point, I mean, it's the motivation that I tell a lot of people on the show as well. It's like, yes, I'd like to get thin or be more fit.
But obviously my behavior is suggesting I prefer going and getting that meal or whatever, being lazy or not working out a bit more. Like mentally, yeah, I don't want to get there, of course. But it's surprising to me that you're very dedicated when I come to business, money, finances, like all of that, it's like a 10 out of 10, like perfect on that, very disciplined, but when it comes to health,
There's less of a focus on, like, wanting to dial it in. I think it's consequences. I always have a wake-up call. I had a financial wake-up call one day, which is, you know, everything was fucked and I realized how fucked it was. I joke with my friends. Like, I'm just like, I need to have a heart attack real quick. Someone ordered me a heart attack real quick. You know, if I have that, then I'm like, oh, fuck. It's like, you know, I don't have any harder time going on dates or anything. I don't have any... There's been no... They're not consequences.
There's been no negative. You're not at a point where you're going to have a wake up call. I mean, like you could be your entire life like you are right now and be totally fine. It's, I feel like there's a bit of a health aspect of like, you know, be healthier. You might have more energy. You might look in the mirror and be like, yeah.
But there's not going to be like someone is like, yeah, I just don't think that's going to happen. Exactly. And that's why I'm not going to make an excuse. I mean, there's no excuse. The fact is for those other things that I'm so disciplined in, if I get less disciplined on the business, I see that in next month's numbers when I sit down with my number two, Robert, and we're looking over numbers. I see the immediate impact, right?
No scale. What if I want to, I want to, but obviously my behavior is something that I want something. I think the hardest part is starting. It is. That's all it is. I think if you gave it 30 days, like you challenged yourself from January 1st to 31st, 30 days hiring a dietician, meal preps and a personal trainer three times a week.
You don't even need a personal trainer. You could just go on a caloric deficit, honestly. I'm moving to a walkable community. And every time I moved to this house, I lived in a walkable community. And I was 30 pounds lighter. I went on walks every day with the dogs. Now that I live in some, I love my house, but I just live in a suburban neighborhood, no streetlights, no sidewalks. It's dark when we get out of work in the winter.
because people refuse to keep permanent daylight savings time. And this is, I don't call them walks or anything anymore. I would like to see you get in really good shape this year. We've almost done it, dude. We've almost done like an audit a year between you and I going on and I'll find something we could fine tune a little bit. I think the first year was getting you off the franchise. We did that. That restaurant, man, it is as successful as ever though.
That's okay, but look at you, I think you made a better decision. I think you were the winner here. But I will say there's something beyond money that I've noticed a lot of really wealthy people are now gravitating towards getting really fit in shape, because that's something you can't really buy. You got to think of all the billionaires now are all doing the thing where they're all getting jacked with six packs. It's the one thing that like... They are, it's yeah.
Now becoming the ultimate flax to be like in your 40s and 50s, but chiseled. Yeah, absolutely. And I think that could be next for you because you've definitely done well in business as we're about to get to and a little bit. So keep watching and like and subscribe if you haven't done that already. I mean, the world to us. But I think now that you guys have a million subscribers.
Yeah, that was fun. Yeah, we don't think about that. But now that you've done well in all these aspects, I think the next thing for you would be fitness, just dialing it in, and you might command a little more authority with guests being like, hey, I did that. Yeah, I don't know if that's a good thing. You think you should act a rich guy? Like, yeah, like 12 employees like yelling at you. I feel like that's a different, you know?
Honestly, I mean I can tell you guys I have not talked about this on the show I do hear that I really do and I know that's something that at some point really does need to be taken advantage of one thing that is just like Awakened in me this year that I almost feel like I'm falling behind in life I Fucking I want wife. I want kids Like I've never felt that in my life before I've always joked about on the show 29 I've always joked about on the show but for some reason something this year I've like felt like I'm like
Like failing. You're having a lot of couples on the show. Do you think you can have anything to do with it? Dude imagine this like this subliminal messaging is coming out of this game. This game of guests come on the show, couples. It's been really weird. Is it because the financial success?
I don't know. I do have financial success. I have no one to share with. I don't go home to anyone. I don't know. I feel like I'd like to pass it along. I don't know. Dating's always been easy and fun and I love going on dates and I go on a lot of dates.
I don't know, but there's that, I feel like there's just, that's a big missing chunk. And I, my family was in town this last weekend and I got the most thoughtful, amazing gift from my mom of a photo album. I've never had one before and it showed my entire life. And I saw my parents with like, uh, seven year old me, no, 10 year old me. And they're my age now.
The age I am right now had a 10 year old me. And I'm like, what the fuck am I doing? Yeah, but you wouldn't have been able to do all of this with a seven. I know. That would have been an uphill battle. It could also be part of the holidays. You know, a lot of people feel like around the holidays. I've been feeling it this year though. It's been building up this year.
More than ever before like i've you know felt like i'd be nice to have a girlfriend before you know and we've joked about that stuff i've never felt the way i feel this way man i give it five years like you want you want to make sure the person that you that you end up finding like you give it a few years with them and like a few years is due to because once you have a kid it's like you that you can never undo that.
There's always going to be a kid no matter what, your life will change forever because of that. There's no going back. I think it's better to live it up now with someone else. Can you, are you a single little guy? Yeah, I'm a single little guy. I'm feeling a little bit of the pressure too. I just turned 26. I'm definitely, once I hit that age too, I'm like, I'm past the first quarter of a century.
Yeah, I feel like I should probably get on it, but I'm curious for you, what were you looking for previously just to go on casual dates and have fun or whatever? Yeah, I just, I enjoyed casual dates and I'd be okay if a relationship happens here and there. Just I never really took it like super seriously. What's preventing you from getting into a relationship now then? I guess nothing's preventing really busy with this job because this job doesn't just exist here. You know, it exists when I go home. I'm also beat afterwards because we do so much more
And then just filming the show, you know, now it's a full fledged business. And also just, I love spending time with the friends as well. And I don't know, it's a busy life. And I really what it is being busy. I think so. I mean, I go on the dating apps and I try to ask some people out in person as well, which is risky. But,
Yeah. Dude, I would give it five years, unsolicited gram advice, just head down, buckle down, five years. You'll be 34, yeah. You told me a few months ago to just like not even go on dates anymore. Yeah, I think I said that. You said it was just like too risky now.
Yeah, I think for everything that you're building, I think- Makes me extra nervous. But I also think any distraction is a bad thing from taking your eye off. Well, off the point of this, right? What is the point of this? I think it's a short-term sacrifice. Five years? Five, we're not talking about a 30-year career. I'm just saying, just to give him a little bit of credit, you have a certain goal and future idea of what you want your life to look like.
and maybe Caleb, and maybe Caleb has a completely different dream life down the road. So your advice to him in terms of what you personally would do may not be, you know, I see the pathetic words, whatever Caleb wants. I see the spot that Caleb is in right now. I can relate closely to it and I think five years.
I think you set yourself up for a lot of longevity for five years and an industry that changes very quickly where anything happens. I think five years solidifies yourself as a paramount person in this space in such a way where you're going to.
Slowly over time remove yourself in the business like it's not going to be Caleb hammer show indefinitely it's going to say about that i think it's going to evolve you slowly gonna remove yourself anymore of an operator and investor and all these other things business owner. And then i think that's the appropriate time and hey if someone comes along be receptive to it.
But I don't think it's necessarily a good thing to go out there. Unless you enjoy it, unless it's something you love doing. I love going on dates. Then keep doing that. I like going on dates. Keep doing that. I'll give you two things. One, just saw my parents, right? I want my kids to be able to grow up with active young grandparents. I want them to be able to experience grandparents. But in two,
especially more of these days, you tend to date more like, you know, one, two, three years in your range. It's not the 1950s anymore. If I'm 35, dating my range, talking about the biological clock, if we're just being purely realistic, I know modern medicine's great, but there is that. It's what a lot of people fear. I don't have the biological clock, but a lot of people I talk to fear that. And if I'm waiting five years and if I'm 35 and I'm married to someone, let's just say on the young end of 32, you know, that's probably like taking a note.
That's probably ticking in their brain. Well, Twitter would be up in arms. I don't think anyone cares. I don't think anyone cares. I don't think any real people care. No. No, real people don't care. Terminally online rage bait, absolutely.
Yeah, I don't know. It's just, I don't know. It's something that's been weighing on me a lot this year. But before we get into that, let's talk about rent for a second. Isn't it crazy that it's probably your biggest expense and yet you get nothing in return? Well, all of that changes with built rewards. Built is a rewards program that lets you earn points just for paying your rent.
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So what is it that you want out of life, like your dream perfect? Like, well, how does this all look? Dream house, wife, two to three kids, two dogs, two cats, two cows, that'd be cool. Walkable community. How are you affording this? Where's the money coming from? I could retire right now. I could retire and live a good, happy, super middle-class life. So technically speaking, the only thing that you can now optimize for if you want to achieve that exact dream that you just stated was you need to find a wife and two cows.
And two dogs. I have two dogs. Yeah. Yes. Yeah. I mean, I guess I could do the ultimate stretch goals, build the business. I like building the business. Building the business is fun. I'm competitive with myself, right? So I building the business. That's another part of life. So that would be another thing that I'd like to see. It's not about the collection of all the wealth. It's like, I just love this. And I love, I mean, you met so many employees today, you know? It's cool. It's fun. I like looking here just to hang out, honestly.
Just to chill during the day. You have a very good work environment. Well, thank you. I can't wait for you guys to see the new place. It's lighthearted. I like it. In terms of your work, your perfect schedule, how often would you be at the office? 9 to 5, Monday to Friday. When I do love the work, it is fun. How much would the house be? How much money? Yeah. The house I'm getting right now, I think, is my perfect house. Really? It's in a walkable community, and I value that more. I didn't realize how much I value that more than almost anything.
I want to be able to walk to the pub. I want to walk to the grocery store. I want to walk to everything, but it's also quiet, it's safe. This is cute. Great parks. How much money would you need to support?
your lifestyle, your kids, your wife, would she be working? Would you not? Dream, dream, dream. She could do whatever she wants, but dream, dream, dream. I mean, I'm pretty close. I think I'd be able to pull off 300 a year now. Pretty close. Do you think that's how much it would cost? Oh, no, no, no, no, no, no, no, no. We would be uncomfortable with that. I could do less.
I could do two. With three kids? Well, I guess I haven't mapped the kids. I haven't mapped the kids. Yeah. I guess I haven't mapped the kids. $30,000 a year per kid.
What is that? The DVD was telling me $100,000 a year per kid. That's P.D.'s kids. I understand. But, okay, so we're talking elite private school after school activities. Well, I was like, okay, with public school, I don't need to go. I didn't mind public school at all. You're going to state college. It's like, I don't know, I don't know. Okay, $30,000 a year a kid.
Yeah, I don't want them to grow up like if we're like privileged or anything either like spoiled I grew up with spoiled and I grew up with Like a billionaire kid and millionaire kids who were also super chill because they weren't spoiled You know, I wouldn't want all that. I don't know. I don't know. That's not my vibe. Yeah, so you think 300 300 grand
Sure, it's hard for me to picture. I haven't priced out kids because that's not a realistic thing right now. I'm not $400,000 a year. I'm not popping out. Let's say it's a four tax, 400. It's hard for me to math it out. That's more of a security thing. Less of like, I want, I want, I want. It's more of a security thing because my life's still, I think we talked about this last time. My life has not really changed since going on here. We're able to go to nicer restaurants, you know, as the friend group, but I hang out with the exact same friends before as I did afterwards.
but a Tesla that was exciting. I don't know. It's like, I don't know. I guess that number is more of a security thing. I don't have the I want, I want, I want, I want. That's fair. I don't travel. What do people do? They travel and they get on planes. There you go. How is your progress, Ben? Because you remember that was a sticking point.
You have a fear of flying. No, it's not a fear of flying. What was it? It was the idea of being in the mind space. Not having control, yeah. Yeah. The most extreme version of that anxiety is people are afraid to leave their house. I have the light version, right? I have the light version, essentially. But that's where... Yeah, so I have like a version of that, probably. I mean, that's at least what therapists have said. So that's like the light version, you know? Are you doing anything to work on that?
Honestly, since we've talked about it, everything's just been... So there's only been one thing that I was like, yeah, that would have been cool. But other than that, I've been just grinding and happy. It'd be cool to go back, fly back to Michigan, maybe. I hate the snow. Family would be cool though, but they just came down, so.
I don't know. It hasn't been a big goal this year. I thought it would be, but it wasn't. No, it would change your life. Honestly, you get in shape for a year. You get jacked and when you finally reach a milestone, whether that be on the scale or lifting a certain amount or something like that, you get on an airplane and you go back and visit your family. I swear, man, that will change the entire trajectory of your life if you could accomplish those two things.
and make your goal to get on the plane when you hit the goal. Or become best friends with Dave Ramsey and use one of those PJs. That's the easy way. But you know if it gets you on a plane. Actually one thing we thought about doing for our paid member, our paid membership on our YouTube memberships is a vlog of us just renting a plane to fly up for like an hour and circle around Austin just to get on the plane.
but it wouldn't be like the full cost, because this is circling, but it would show that, oh, I can be on the plane, I can be okay. You know what you could do that would be hilarious? Instead of getting a private jet, you booking every single seat on the airplane, so it's just you. That would. How much would that cost? I don't know. I don't know if it's... Sorry, it'd be more than a private jet. Probably. But I think it would be hilarious is to be you on the airplane. That's it. The whole thing is just you. We'd have to make content.
That'd be funny. You know what? I'm surprised. Honestly, some like Mr. Beast wouldn't do that for short. Yeah. Buying every seat on an airplane or like an aeroplane. It would be really challenging. Like, how are you going to find a flight that has no seats booked already?
You just book weight and dance. Like as soon as it comes out and like, yeah, that's possible. Okay, we'll just leave one seat open and I want just a random person. I put that person next to you. That would be funny. Okay, I'm curious in terms of dating, you said that you would go up to people and just call their approach people.
You're still doing that? Every once in a while, I'm not like a go to bar kind of person. You know, when I hang out with my friends, we either like at each other's place or I get a restaurant, but every once in a while, you know, dog park, something like that. Tell me, how does that typically go for you? I have a mini panic attack and then I'm like, okay, let's go. And then I go and then I don't remember anything as I'm spurting out nonsense as I try to ask for a number. And then I walk away.
And how what's your success? Oh, there's a last about five percent. But seriously, five percent. Oh, yeah. So you got pretty low, 20 women, and then one of them will say yes and give them that feels about right. That feels about right. And do you do you usually ask for a phone number at the end of it?
Yeah, we're Instagram or something now. And one in 20 will give it to you. Maybe that's hard guessing. What do you think is causing that seems slightly low? I feel like I feel like 30%. It's a little awkward. I know I'm a bumbling awkward dude when I'm in that situation and I'm bad at the, you know, I feel like this success rate would probably go from 5% to 15% and that's just
pure guests on both ends. But like, if I did the whole conversation for five to 10 minutes and close off with, okay, I'm going to go, yeah, you want to look. And it's like, that would probably be better, but I just kind of go up and I'm like, you're cute. That's what you say. So you started off with a compliment. So I got recommended this video. I loved it. This guy just started a brand new YouTube channel, his first video.
got like 600,000 views. And it was him approaching 100 women to try to get a phone number. And it's just him with one of those like, you know, sunglasses, you know, like what you have, just him going and asking, hey, I think you're, you're cute. Can I get your phone number? No, no, no. I think he got like one out of 100. And all the comments were like, yo, you're doing this wrong. You should just like start small talk to this. And they gave him critiques and he went out and did it again.
and he ended up getting like almost like one in four, saying yes, you're getting a number. It was, I think it was to agree to go on an instant date with him. But the secret was like just general small talk first without any objective was just like chit-chatting and it seemed very natural.
And obviously, you could tell he was awkward in the beginning, but you see his progress through one through 20 and by 20 in, and he's doing this all in a day, he's kind of warmed up, doing well and just getting instant dates, getting instant numbers. So I got to work on it and just really practice it.
Do you notice yourself getting better the more you do it? Well, the things are just so far in between. Yeah. It's kind of like a restart every time. I had a success two days ago where I left the number for Oatris, most beautiful person I've ever, literally most beautiful person I've ever seen. Never seen anyone more beautiful. I've had my phone number. She didn't text me, but her cute friend texted me.
How did that work out? She just gave it to her friend. She's like, well, she's married. Oh, that makes sense. And she was like, ah, here's this guy. He's cute and she texts me and she's really cute too. You know what I would do if you're doing this, at least make content out of it, like for members or something like this. No, no, really, film it. Yeah, okay. That would be amazing to watch. I would love to watch it. Well, if you want to apply to be my wife and child bear, go to Calebhammer.com slash it only fans. That's where all is. Is it actually a
You know what? We should make a, we should make a link to go into like a picture of me. Yeah. Would you ever have a form where people can submit to go on a date with you? No. Unless it was for a show. Unless it was for a show. It had to be for a show. I don't think so. Yeah, sure. Because then you just get parasocial, I have a feeling, you know? It would just be like, yeah. Fan, fan, fan, it's just like. Don't put it on the show. Like do what Jubilee does, where you have like a sheet in between you.
but where you have a sheet in between you and you're just talking to people, you can't see them and just like have them answer questions and then you pick the one that you like the most out of the top 20 and then you go on a date with them and maybe on the date you discuss credit scores and like savings goals and just things like this and it's a fantastic show. Yeah, the girl that you picked on your blind date on your, I ended up talking to her just on accident. Oh really? Yeah.
But the long distance will do. Do you tend to get more nervous? This is once again a bad sounding question, but the more pretty give it to the girl is does it tend to make you more apprehensive to go in a talk to her? Probably. I'm not nervous on dates, but I'm definitely nervous asking people out. Yeah, that's definitely the scary part. I think I'm nervous either way, because I'm obviously attracted to them if I'm asking them out. So I'm like. And have you ever cold approached someone and then they recognize you?
Ooh, I think once, I think I fucking buried that down deep. Yeah, I was like, yeah, but I love your show or I have a boyfriend, but I love your show. One of those. It would be even worse to be like my boyfriend loves your show. Yeah. I almost, I almost asked someone out who I almost asked for someone's Instagram who came up to me the other day and started talking, but she was with someone.
And I'm just gonna do it because it could have been her brother. Here's what you asked. All you, I'll tell you the way to get around that. How do you guys know each other? Instant. Oh, my boyfriend. Oh, cool. How long have you been together? Two years. That's awesome. Hey, do you live nearby? And then you just spin it off. Anytime it's what? Anytime they're like, oh, this is my friend. Now, all you need to do is
No, now pay attention to the friend and make him feel like he's a part of the conversation. And ignore her? I think it's a polite thing to do. To ignore her? No, no, no, no, no. Instead, involve everyone in the conversation. Oh, yeah, cool. No, but you chitchat with the guy for a little bit. Yeah. You know? Because you don't want to make it seem like, all right, I'm going to block you out. All right, good. Oh, no, no, no, no. Yeah. I'm always awkward in those encounters anyway when anyone comes up to me. I just never really know what to say. I'm just like, oh, thanks for watching. Fist bump.
Yeah. So if you came up to Caleb a couple days ago, which is sometime in December, and home slice, and at home slice, that's a great, I've been meaning, I'm going to go there when I'm here. It's a great pizza spot. If you came up to Caleb and you had a gentleman with you, slide into a DMS or something, klamer.com slash only. It's just cute. Don't be afraid to ask how they know each other. That's always smart. That's really smart. I don't know. I think about that. What about dating apps?
Yeah, I mean, that's where I get the majority of my dates is engine bumble. Those are the two. Hinging bumble. What do you find to be more successful? Whatever one I'm focusing on. I can't do both at the same time. So I'm just like going in on one. And what do you think about dating fans? Do you think that's a weird thing? Like someone who watches your content? OK, it's really difficult because.
I have, I'm in a weird situation now where it's like almost anyone and everyone that are just like me in general has at least seen a clip because clips have gone viral or now they're like, I've seen the rocket money commercials, you know? So it's like they've seen the face. So a lot of people know who I am, where they are in the stage of like, oh, I'm a diehard fan or, oh, yeah, I just know you exist. That's what I don't know. So I would totally cool to go on a date with like,
Unless we get to the parasocial weirdness where it's like, they know everything about me. I know nothing about them. That's a bit weird. I accidentally went on one of those dates. They didn't tell me until hearing. It wasn't a very good day. But if someone knows of my existence, that's totally fine. Totally fine. I know there's conversations around power dynamics and stuff, but I don't know. It's really weird.
Again, I think it's impossible to not have a power dynamic in some capacity, like even if you have a really beautiful woman and like an average looking dude, there's going to be an income difference. Well, yeah, but there's going to be a power dynamic there because you'll have options in the guy. That's the conversation that Twitter tends to fail to have with power dynamics is
Everything has a power dynamic. Technically, you have a power dynamic right now because you guys are going to edit this and whatever it is is what it is. That's fine. Even if I have a say, like, there is a power dynamic. A power dynamic between a teacher and a student and a mother and a daughter and me and my pet. There's a power dynamic anywhere. Power dynamics are not a bad thing. Abuse of power dynamic is a bad thing. And how do you abuse it? Everyone always brings up the power dynamic. That's not a bad thing. It's like, hey,
You don't get to come on this show unless you do this naughty bad thing. That's an abuse of a power dynamic. That's what people need to freak out about. So I wouldn't have the issue of them knowing I exist and us getting dinner. That wouldn't be too big of a deal for me. It just gets weird. If it's parasocial, then that's just when I'm not having fun anymore. It's like, you know everything about me. That's just me trying to, you know,
This is just weird. Yeah. So I've noticed you lean a lot lately into relationship dynamics. What have you noticed between almost counseling couples with their finances? I do not know why, but they do not talk about their fucking money.
why don't they talk no one talks to each other about their money there's always a hidden debt we discover almost every episode just a hidden debt and they just don't talk about it or when they go to have the conversation one becomes bickering and nagging towards the other person the other person becomes mute and never wants to participate in that conversation again the communication around finance in this country especially among couples is horrendous
I don't get it. We've never had one couple on the show with the communications, not at least bad in some way. Who spends more money, men or women? On our show, I don't know the real answer, but on our show, let's bend the dudes. What are they spending? They get their tool debt and they get their forward and they get their manly toys. They're only fans. Yeah, I don't know.
They always have some truck in the back that they're gonna fix. They're gonna fix, you know? But there's a car payment on a still, even though it's not running. So what do you think they're not talking? Is it the guy who just purely doesn't want to like involve his wife or girlfriend fiance in his own finances? Are there shared finances in a separate? Becomes an argument every single time. Every single time.
It just it always becomes a blame game or they feel like it's a blame game like we're calling out these purchases what you call out this stuff that I'm buying. Oh, like it's all my fault. You think it's all my fault. It always becomes an argument. They don't know how to communicate in a healthy way. When you have couples on the show like that, though, what dynamics do you notice do not work? Like can you tell if people are a good fit for each other or not?
Yeah, there's definitely the independent versus codependent people. Um, I'm sure they can figure out another aspects of marriage, but when one person wants their finances to be their finances and the other one wants to achieve these goals together, getting to retirement together, paying off these debts together. Nope. And the comments are always like,
We'll see a divorce follow up in six months. You know, it's like, well, I win. They're just not on that same page. I know finance isn't the leading cause of divorce in the country, but it's one of the major ones. And if one person just like, this is my money, I'll bring in my money. I don't want to spend my money. You know, it's like, so what's your advice for couples?
Definitely, you need to go into the conversation about budgeting if it's your first time in a non-combative spirit, not doing accusations of, oh, why'd you spend this much money on this toy? It should have been that let's document where the money was spent, not who spent it, and just what are the goals we want to do? What does it take to get there and then budget for those goals?
Do you think a saver could live a happy life with a spender? As long as they're willing to hit the goals together, I think so. If the spender wants to overtake and not hit any of the goals that the saver wants to get to, I think that's pretty hard. And if the saver's not willing to have any fun that the spender wants to do, then I think that's going to be hard as well. But if they're at least willing to set reasonable goals that they want to get to together, and they're both willing to make their compromises,
To get there, I think that's fair. I've noticed mental health has came up in your show a lot. I mean, it's nearly every episode at this point. What percentage would you just generally say that is part of the equation of these people's poor financial standings? In terms of them bringing it up? 99%. In terms of it actually impacted them probably closer to 25%.
I've had people with real issues and we want to help them out. A lot of people that get back to the corner and they'll bring up some mental health thing. We have an interesting, I'm very curious, 20 years when they look back in this period of culture, what they're going to say. A lot of it is on TikTok right now of the mental health and trauma Olympics.
has to be one up in each other, has to be, here's my trauma, here's this thing, and then people get convinced that they have a trauma and a mental health thing, and it's just one up, and one up, and one up, and lots of self-diagnosis. I've had way too many people that come on the show, they get backed into the corner of like, hey, you are wrong for this, this is what you need to do to fix it, and then they have some self-diagnosis that they never had through a mental health professional. I will respect it, and I will take it seriously when you talk to a professional, and they at least give it inkling that you might have something.
You know, if it's not an official diagnosis, that is when I will respect it. But if you are getting pushed back on for the first time in your life and you say, well, my anxiety is too high. It's like, this is all just because we become a little too soft and a little too like gentle with each other that people just aren't getting the reality of the situation. Can't just be told, hey, get your act together. Like, that's not okay. That's not cool.
Maybe that might be a part of it. I still really think just the way social media is, you know, I'm on the cusp of Gen Z. You're technically Gen Z. A lot of that generation that we're involved in around the cusp of is it really is kind of the Olympics of
Just how bad are things like you have to be you have to have the worst trauma you have to have the worst situation. And it gets the best engagement you get rewarded for it on the platforms and. I don't know that's a big part of it and then people are convinced that they have a trauma like someone will tell a story and then like comments will flood and you know you've been so much trauma.
And all this stuff, your victim and all this. And we get a lot of- Why do you think the victim mentality lately has seen such a surgeons? I'm sure we have been flow through everything, right? We haven't flow through the cultures. We had the sexual revolution in what, 60s, 70s, 80s. And now we're almost having an anti-sexual revolution amongst the youngest people, where people can't date, people are really lonely, and people aren't even willing to have the conversations about sex. I feel like we probably have been flow through this.
You know what's interesting I saw on Twitter? The amount of people who thought the Founding Fathers were heroes or evil. The majority of Gen Z believed that the Founding Fathers
were evil versus heroes, versus boomers who almost all thought they were heroes. It's interesting to see just how culture is shifted and how people's mindset is going towards a, let's focus on the bad. You're also more rebellious when you're younger too, right? Okay. All right. I'll give you that. That's something I didn't think of. Yeah. You always got to push back, be against the man.
That's true.
Progress towards those goals every time we see that it's the most rewarding thing of the show You know actually seeing those real results because you can get lost in the you know filming every day Making sure the uploads are going well all that stuff when you see real people getting real results
That is definitely. So what do you do when they leave the show? How do you support them and make sure that they stay on the right track? Yeah. So what we tell them specifically for communication and everything, we say, hey, we filmed with a few hundred guests, reach out to us for anything.
We'll reach out to here and there, but the main thing is if you need anything or any questions at all, you reach out to us. What we give them is access to our Discord and private Discord for past guests where they can cheer each other on. We give them our budgeting class, our investing class, and our debt class, and then we give them the free app forever, free budgeting app forever.
And then any resources they personally want and ask for, they get free certification through course careers for income, how they get three free therapy sessions every once in a while with some of the financial advisors that I use, they can get some free sessions to sit down with them, or if they don't, we'll at least cover that session. So anything and everything they need, and then any questions they have along the way they can reach out. And then we have them for follow up channels and reassess. So here's what I'm curious about.
How many guests are really unhappy with a thumbnail? At this, well, before, in the first year, you know, decent, a few here and there. Now, basically, none. There are some that I'm looking at, where I see them posted, because I... Dude, they're so much fun. But the thing is, the onboarding process is so fucking extensive, they probably hear
Dude, these are funny. I'm gonna kill him. Nasty woman, girl math. I deserve his money. Fuck you, pay me. Parasite. With every single one of them, the first phone call they have, it is told about the titles and the, plus again, they're from the audience, they literally see it. But how about this one? Controlling husband exploits young bride distract.
That was a good one. How do they, because it got 722,000 names, I guarantee that this person's boss sees that, their coworker sees that, their family sees that. And they are a hundred bajillion percent aware that every time. Most people tell everyone around them that they're coming on. They're coworkers. They ask permission from their boss. A lot of people, you know, there's a lot that goes into it. And we give them the warnings of all that as well so they can prepare for it.
But they are asked permission. I probably two times for the thumbnail and title before they come on, they're asked permission in the green room. Then they watch the onboarding video going over the thumbnail processes. Then if you go in the green room, you'll see our thumbnails in there with titles under that. That's a good idea. Yeah, they are given literally every opportunity in the world.
Every there we've gone beyond extensive I've seen other youtubers react to our content and they're in you know other Brit video where we kind of go over the process of how we do it and they're like You guys don't need to be doing all this type of but this is this is overboard You guys are going overboard on your onboarding process these people can just look up the channel before they come on and know they're getting into yeah, which is true I mean a wife fucking baby people you're an adult know what you're fucking doing, you know you're going on a show but also
Fuck it. We do have a responsibility in my mind. I wouldn't feel morally comfortable if we weren't giving them every opportunity in the world to know exactly what they're doing. But even then, do you ever get people still saying after the fact I don't like it or it's like, hey, I know what I'm getting into. I understand it. I'm an adult. They are so beyond aware of this point that we don't get a single complaint.
We changed the process any and every time that there ever is a complaint. So if we ever had the reason the onboarding process exists, honestly, because of someone like Brent, I was like, I didn't know the thumbnail would have me crying or something. It's like, okay, we changed the process. You make it better. It's always about growth and making it better. Now, I'm curious in terms of your overall business, like I got to say, you know, Jack and I showing up here, a lot has changed.
It's incredible. Like we walked into a different business than we did before. How has it changed from your perspective? Yeah, I mean, we're just really.
Building the business is my favorite thing. It's just fun. It's not only a hobby, but I'm competitive with myself, you know, there's a lot of avenues we're going into with the special project whether or not that's in this video Further diversify in our content with your weekend money and financial water follow-ups, you know, we do have our education now, so we have marketing with that our
You know, our big, our biggest part of the business is still the video side. So, you know, we have their first editor and then two video editors and then an ad editor. And then, um, and then, you know, three people soon on the casting side. So that's pretty big. We also have the inside sales rep who's able to go get sponsors that I want and stuff like that.
You have surpassed everything that I could imagine should be done. You've done that plus 50%. Effectively, too. There's only a million things more I want to do. Part of me wonders, I'm intimidated by seeing all the people and all the back end infrastructure that you have set up. How do you learn how to do that? I feel like I would just be lost.
Well, I mean, you don't do it all at once, right? You grow it. And like I brought on my friend and also past coworker, Robert, who, you know, he's also really good at this. And we put our heads together a lot. And, you know, we work on it together. And, you know, I throw him a lot of the more miscellaneous tasks out of the HR, a lot of stuff like that. So, so I don't know, you surround yourself with the right people. You vet people well.
We've never had any bad experience with any employees, so everything's been good. Even before people are hired, we bring them in for a day just to see if they culture fit and stuff, because we're a little rambunctious. We like to have fun. I don't know. I think if you put in the right investment.
It works out. How do you keep people motivated? I like relatively robust bonus structures. Some people are on quarterly structures. Some people, if they hit certain metrics on what they're working on, they get bonuses. But also, since I think it is a fun place to work in general, compared to if you're going to go to most corporations, I think people like to see the end results. I know people got fired up today when we got the
The results of the 10,000 hours paid off in 10 months median thing. That's really good to hear. I don't know, just seeing the growth. Everyone has such an integral part that no one is just here because they're here and they're not. There's not one person that you could take away and oh, it's okay. In terms of the revenue, could you break it down on a pie chart in terms of where it comes from? You don't have to say a specific number, just percentage terms. Off the top of my head, I'm pretty bad at that. Really? Let me give you the exact one.
Can you get my laptop from the table now? Glam it, Jack, I wanna give him the best. All right. Give him the best. I actually really like these. I do too. Dude, they're so nice, they're needos. They don't even sponsor, but don't. If you could find a way to manufacture these and sell them, I swear, like this is the coolest thing I've held in my hand.
Okay, no November. November ad rates for the YouTube channel was 32.8%. One dedicated sponsor was 11%. Membership was 7%. Another dedicated sponsor was 14.4. And a bunch of other little follow-up, different ads. Patreon, that kind of crap. And then our secondary channels, that all adds up to about
I think it looks like 10% and then all other minor sponsorships coming together from 15.4 and then classes at 11.
Yeah. That's pretty healthy in terms of diversification. How do you plan to expand that over time? We want to make our education system more robust. We don't want to go through anything cash grabby. There's just such a bad negative connotation, and fairly so, of other ew foods or gurus out there who've just put out classes and they're just shitty.
That's why we do like, oh, a month, take the class. If you didn't find it valuable, we'll refund, you know, questions ask. And also our refund rate is 25% of industry average. So like we know we're doing things right. And the refund rate overall is what, like 3%, 2%, it's like lower than that, it's like really low. And ours is 25% of that. So I know we're, so we want to build that out, make sure we're actually providing value. Then again, with the special project, whether or not that was announced, that'll be,
Hopefully apart building out our YouTube membership is a really helpful part as well. And we do all these dedicated shows behind it. I'm the paywall there and that helps support the ups and downs and everything. So I'll tell you what I think you need to do. I'll give you my unsolicited advice. Get a guy on the street. I think a man on the street sort of style right now for shorts that you could turn into long form like 15 minute videos. I love this channel, the School of Hard Knocks.
Have you seen this guy? He goes, what do you do for a living? Like, I love that. They're great videos. And this guy has no fear going up to like strangers. Hey, we ever broke before. How do you make your money? I love this channel. Get a guy who's like really good going up to strangers on the street and you're in the perfect spot for it. Like the bar scene. But instead of the pickup videos or like flirting with women, talk about money, talk about finances, have couples on it. On the, on the, I would do it. Do you think it would actually be fantastic? I, I did it already. I just, I know editing.
I could stand the production of it. You were really good at it, man. You had a good knack at that. Yeah, they did well. I would do it, but I just don't want to produce it. Yeah, that's fair. That's what I would do. So I would do the man on the street, that's its own segment, different from you. Then what I would, what I think would be really interesting, and I'm giving you all the ideas that I just don't have the energy for, but I know they would do well. Have an attorney on that goes through legal issues for people. So it's like they'll get like a free attorney, but like imagine I come to you, like you were talking about the landlord issue.
Nobody's still inside yet. And I just say, hey, dude, my landlord is this and that, and there's like, can I see your lease, show the lease? And then kind of go over it, but it's like, we came up, oh, there's another one. Okay, so the legal thing. The next thing I'd love for you to do is a fitness audit.
Yeah, it doesn't have to be, I'm not talking like you, but I think higher Yeah, higher somewhat higher someone who's just like you know ripped but basically to do a like Jack
Yeah, they're all used to a fitness audit of people where they could go through and this is this is a lot more work But like go through and like go through their diet like you go through someone's Finances go through like have them track what they eat for like a month or for a week or something like this So I'm like that but they go through and it's like you ate up cheeseburger What are you thinking to pancakes with this and this mocha thing that's seven hundred calories like oh that'll really outrage right in
But you know what? I think that would be good. Put them on the spot in a place that they could get healthy and could learn the proper exercises and ways that they could get in shape and diversifying away from you. I think that's the only I would do. And eventually you have the Caleb Hammer, the audit brand. Because right now you've got financial audit. I want to see fitness audit. I want to see legal audit.
Yes. That's it. I want to see the man on the street. Why aren't you doing things? It's not the energy for like, I don't have the energy. You're not old yet. I have zero motivation to do it. Like to me, it sounds daunting. It sounds like a ton of work. And I'm like, do I really want to do that? Probably not. This is the guy you want to partner with? He should.
Well, I'm trying to. That's false. The thing is we're both passionate about what we're passionate about, and it's hard to expand the parameters. Right now, the ice coffee hour, for me, is all I want. It's all I need. I would consider doing other things, but most of the time the juice isn't worth the squeeze. I want to go and I want to make straight interview videos, but at the same time, I don't want to do all of the post-production process. I want to go try this thing out, but I know that that's going to also be all of this auxiliary work with any other venture that's taken on. There's nothing wrong with hiring people.
I don't like it a lot. We pay a lot of agencies to do certain things for us, and we have a few people that we pay to take care of a lot of our responsibilities. So we don't really have any full-time things, employees, but we do have money going out to several different people that provide services for us that make our lives easier. You like third parties, because that's the thing. We're trying to in-house almost everything, because I feel like no one cares. You make a lot, a lot, a lot, a lot more than us.
Well, yeah, okay. That also, maybe. If you in house things more, you would be able to make things better, though. True. To me, it's management, right? To me, it's management. It's now we have to manage someone and oversee that. I don't like what? You're like meetings, like sitting down and just making things better. Just like strategizing. I do like that. I love getting in and just like, let's figure this shit out. I love title thumbnail strategy conversations. Like this,
This I love, title thumbnail, I like, and then the review process of making sure the episode is perfect. I like that. It's more than sitting down and making a thumbnail. I would prefer to build out systems than I would that stuff, honestly. We all sit in that room over there and we spend an hour, three days a week making titles and thumbnails, and I never felt a nooser on my neck. Just hire me as a consultant. Solid is, man. You would make ours two guys.
They wouldn't be as fun and rowdy anymore. Give you some good ideas. In terms of your own finances, you mentioned in the past that you're worried about dying poor in a Walmart floor. Are you still worried about that? Maybe my worries changed. Maybe I'm less worried about that. I'm worried about that getting old wife kids thing. Interesting. Shift it. Maybe it shifted. I don't know. I did the whole...
drama thing and stuff like that, you know, kind of it was like bullshit online and now I just like don't fear anything like that anymore.
Is interesting because even just a year ago when we last talked to you still maintained that you were worried about dying porn while not for but now in just one year that's not really something that you think about too often. Not as much. I think because I hit that safety goal. So really was achieving the goal because I know a lot of people they achieve their certain financial goal and then they continue to extend that. Yeah. Well, I mean, I have stretch goals that I'd like to get to out of competitiveness with myself, of course.
Uh, but that was my, like, safety goal, safety goal. And I hit it. And you don't feel as worried about money now that you've hit that. No, not at least everything collapsing. No. Do you worry about everything collapsing? Well, if everything collapsed, that'd be fine. Unless everything collapsed countrywide, but then we'd all be fine. Sure. That's interesting. I've not noticed much of a correlation between me feeling like financially secure money. Yeah. It's just, I still feel the same. Hmm.
but that's probably more of a mental thing. I'm still looking over expenses. I'm still thinking about, do I really need that on Amazon? Probably not. I could give you three free therapy sessions if you need. I'm good. Talk to a financial therapist, maybe. I'm going to tell you a huge life hack. Huge. This will save you all your money in taxes. Marry someone who's a real estate professional.
All of a sudden now, real estate losses can be deducted against your active income, assuming she's full time in real estate. So now this here's what this means. Let's just say, I'm just round numbers here. You make a million dollars in a year. Now you're paying taxes on that million dollars at 37%. Let's just call it 300 grand wiped away gone poof.
done forever. But your wife is a real estate professional. Well, guess what? Now you buy a commercial property with $500,000 down. It's a $2 million property. Now on that $2 million property, you could do what's called cost segregation analysis where basically they go on and they say, hey, this ceiling has a lifespan of 15 years. These floors have a lifespan of seven years. Here's the value of all of this. Here's the depreciation schedule. And here's what we could take bonus depreciation on. So maybe on that $2 million building, I get round numbers.
You get a million dollars of active losses as a write-off. Now, all of a sudden, you got a million dollar income, a million dollars of losses. Merge the two, zero tax whatsoever. Put in that on the dating profile. Yeah. Now, let's be realistic. Now, here's the thing, in fairness.
that does lower your cost basis on the real estate. So if you were to sell, that then becomes active income, you're going to have to pay the taxes. The goal is that you just keep 1031, exchanging the properties, you keep tax deferring it, and you build a whole nest egg of tax-free income, then eventually you die.
And you could leave, I think as of now, it's $28 million tax-free to your heirs, or you could do a trust, and there's other things that you could do on that. There you go. So you can come up. No one would complain about $28 million. No. So that's pretty good. That would be crazy. That would be a crazy number. This sounds pretty, you know, aggressive, but have you ever considered trying like a ozapic? Needles is a really big scared, big scared guy.
What if someone else does it for you? What's the needles? What if you don't look at it? I hear it's like a pen, right? Isn't it? The idea of a needle existing is already making my legs go queasy. Interesting. Okay. I was just curious about that because I know a lot of people are trying it. It's very effective. I've heard not, you know, advice there, but I've heard it.
Yeah. Well, one thing I would be interested in it, it's kind of like debt consolidation, right? So you still need to change the behavior. It's not going to be sustainable long term. Like you can debt consolidate, but if you don't change the behavior, you're building those credit cards all the way back up. So like, I'd be open to it. If you guys ever see me, if you come skinny, it's probably not because I'm a little pussy with nadles.
No tattoos either. Uh-uh. I'd love a bass clef though, bass clef right here, musical bass clef. That would be cool. Yeah, for my trombone days. You know what I would do is a bass clef on the one side and a hammer. A hammer? I could not do a hammer. I could not do a hammer. I could not do a hammer. You don't think a hammer? No. I'm so egotistical and just like weird. Yeah. Yeah. What is a criticism that you get a lot that you think is completely invalid? No, you guys brought up the interesting one earlier. What did you guys call it?
That take an advantage. Do you are you exploiting poor people? Yeah, that one I think because of just our entire process that people just aren't privy to. It's like I can see the criticism because they're not informed of everything going into it, but it just, it feels
No, everything we do in the conversations we have with them, it feels very endowed. Listen, if we never changed the process from two and a half years ago when I was just in my kitchen, you know, my condo film in the show, like, yes, okay, that would be different. But if we're putting in the work, we're putting it in the change. And everyone said we're getting very positive experiences across the board, except for a few misses here and there where we changed the process. Yes, I would agree. But that's just, I don't know, it's bad things. Again, everyone's just,
One thing is, it's really interesting online that I think... Actually, no. I don't know. You never want to... I've watched podcast now, or influencers, or whatever, I guess, if that's what we are on it, and then they make a complaint, and it's just like, there's no point.
No one can relate to it. It's just, it's just so silly. So I don't know. I'm talking about like, don't you hate it when you have to take your Lamborghini for service? Oh, like I heard a bit more than that. Like streaming is harder than a nine to five. Well, that shit's crazy, but I meant more like, like, just thinking about criticisms, you know, because no one, you can't know what it's like to get that overwhelming sense of mountains.
of criticism.
Ooh, it's overwhelming when the internet's coming after you for a second, you know? This is crazy. You can't. People are getting way too comfortable throwing hate out of the people and people are getting more and more aggressive to the point of it just being blatant bullying and people bandwagon. Like I see things on Instagram where I saw this really sad video recently as of a flight attendant. It was like a older lady, but you know,
middle aged or so, and she was working a job just simply mining her own business as a flight attendant. These people walk into the plane and they have this massive dog, and it was captioned, service dogs have gone too far because it was like a great day or something. They're bringing it onto the plane.
The Great Dane steps on the flight attendant's foot and she goes, ow, ow. And she's saying, have a good day or have a safe flight to everybody that comes in. But the Great Dane stepped on her foot. She said, ow, in kind of a disturbed tone. And one of the comments was just hate for the flight attendant. And it had an arrow pointing towards the like button and it had like a hundred likes. And I'm thinking to myself, this flight, because she sounded annoyed. And I'm thinking to myself,
This person is sending 100 plus people at least. That was just after it had been close for a little bit. At this random lady, she didn't agree to be filmed. She's doing her job. You have no idea what she's going through. She's a human just like you. She has her own struggles. She's in her own world. As are you. And I'm like, it's unreal how comfortable people are just saying, hate for this person, like this comment.
and they're farming engagement for everything. Everything's engagement farming now. But to do it in the most egregious and unacceptable way for this poor lady who had no idea what was going on, she's just doing her own job, especially when someone's doing their job. You know what I mean? I just, the thing that honestly, one of my biggest pet peeves is making fun of people for whatever job that they have. Oh, yeah, it's crazy. I don't know. And she, it just really, it's kind of, you know, riling me up. Yeah, I can tell. But it was pretty upsetting and I made a very long comment back to it.
Good. And I was like, and then I said, I hate for this comment. I didn't say hate to this person in my response, but I just had hate for this comment. Everything's engagement bait now. I mean, that's what you're seeing everywhere. I forgot. The one thing I was trying to say, I got lost in my thoughts. The one thing I was trying to say, the thing that I think I don't like is in the world of online, it's if they don't like your content,
they will just assume the worst about you in every instance. And I think one thing that kind of sucks is I enjoy making people happy, watching the content, being happy, and I want people to like to show. And if people don't like to show, that's okay, that sucks. It's just, I don't know, that's what I struggled with, I think, towards the beginning of this year, end of last year, maybe when we first met, whereas it's like, people just assume the worst, they get parasocial, they just make all these assumptions, and that sucked.
It's been a good year. Moved beyond that. Just kind of don't look at that stuff and just out of sight out of mind. But I guess based on your question, that's the one thing that just kind of annoys me. Those two things, that criticism that you brought up that, yeah, I've seen that a couple times online. I'm like, gosh, you don't know the process. And it says, yeah, people just assume the worst and it's really weird. It's really weird. And lastly, on quitting YouTube.
Because I know you've previously mentioned quite a few times that you've always not been the biggest fan of being like a camera facing personality on YouTube. You're not a huge fan of any sort of fame, even though, you know, I wouldn't consider youtubers famous, but they're definitely recognizable and famous to some extent, you know what I mean? With parasocial relationships and just being recognized. How do you feel about that? Do you still want to quit YouTube? No.
I'm, I'm very happy now. I'm very happy. We changed based on exactly what we were just talking about. Once I learned how to separate from online and just accept that not everyone's going to like me, not everyone's going to like the show and that's okay. And that sometimes, you know, people will scream into the void.
That's okay. I can be happy. That's what it used to get to me. And I was just like, I just want to step away from this and just help manage it. Now I get to meet with people every day, film, put out episodes that are literally changing tens of thousands of people's lives and getting positive results and also entertaining people, getting people through the workday. The fact that we get to do that and people actually show up and watch three days a week is the most insane blessing in the world.
And I couldn't see doing anything else. I love this to my core. Did you stop reading comments somewhere in there or did you just divorce however you're doing on a daily basis with whatever people are saying about you online? I think I had a lot of fear back then of people not liking me or people saying things that weren't true and
That fear has gone away. I went to therapy, talked about it, worked it with it through a therapist. And also, yeah, I just stopped going on some more outrage driven places online where it's engagement. You get your karma, you get your like, you get your whatever based on outrage engagement. I just stopped looking at it and there's really no need to.
All right. Well, I think that is it. Thank you. Appreciate the time. Thank you team. Caleb's got his whole team. They're all helping out with this. So I'm hungry. Well, yeah. We're going to link to your channel down below in the description. Obviously, if you've never seen Caleb Hammer before, the channel is down below. Thank you so much for letting us use your studio, your equipment, letting us go here.
The Diet Coke for the coffee, you've been so generous. Don't forget to thank you for the needos. These are so neat. I want you to sell these two. That's the other thing. These are sponsor us, Nito. I know. I'm killing it, it's always a pleasure. Thank you. I love it. Thank you guys so much. Until next time.
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February 10, 2025
An Unfiltered Conversation with Andrew Callaghan: Money, Greed, & Getting Cancelled | Channel 5 News

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Ramp: Now get $250 when you join Ramp at https://ramp.com/ich SelectQuote: Get the RIGHT life insurance for YOU, for LESS, at https://selectquote.com/ich Shopify: Sign up for a $1 per month trial period at https://shopify.com/ich Range Rover Sport: Start designing your Range Rover Sport today at https://www.LandRoverUSA.com MagicMind: Get 45% off the Magic Mind bundle with with my link: https://www.magicmind.com/ichjan Subscribe To @Channel5YouTube Here! Watch Dear Kelly Documentary: https://www.dearkellyfilm.com/ Add us on Instagram: https://www.instagram.com/jlsselby https://www.instagram.com/gpstephan Official Clips Channel: https://www.youtube.com/channel/UCeBQ24VfikOriqSdKtomh0w For sponsorships or business inquiries reach out to: tmatsradio@gmail.com For Podcast Inquiries, please DM @icedcoffeehour on Instagram! Timestamps : 00:00:00 - Intro 00:01:22 - Describing what you do 00:01:31 - Most memorable interview 00:03:13 - Why people live in Vegas tunnels 00:04:36 - Vegas homeless ID issue 00:06:24 - How journalism journey started 00:08:34 - Getting into All Gas No Brakes 00:09:46 - Hitchhiking stories 00:13:36 - Sponsor - Ramp 00:14:52 - Why the low production quality? 00:17:00 - How AGNB approached you 00:20:25 - Finding the right guests 00:22:28 - New movie: Dear Kelly 00:27:12 - Where radicalized people get info 00:29:17 - Empathy in conversations 00:32:16 - Street interview format 00:35:08 - Sponsor - Select Quote 00:36:25 - Who won’t you interview? 00:41:33 - Anonymous sources trusting you 00:42:53 - Ever feared for your life? 00:46:20 - Is legacy journalism dying? 00:50:28 - How people get radicalized 00:54:11 - Best news sources on both sides 00:55:30 - Media platforms you watch 00:56:17 - Most credible conspiracy theories 00:57:21 - Thoughts on Elon Musk 01:05:49 - Should you buy a home? 01:10:04 - Sponsor - Shopify 01:10:59 - Sponsor - Range Rover 01:12:02 - Revenue streams and income 01:14:05 - Saving & investing 01:16:40 - Most misunderstood group of people 01:18:04 - People you don’t get along with 01:19:42 - Homeless crisis 01:20:36 - Best way to combat homelessness 01:25:31 - Biggest insecurities 01:29:36 - Fallout from scandal 01:33:01 - How did you change? 01:35:43 - Overcoming your lowest point 01:38:35 - Does everything happen for a reason? 01:40:36 - A valid criticism of yourself 01:41:39 - Lessons from experiences 01:43:12 - What media training teaches 01:49:59 - Do you read comments? 01:51:57 - Dear Kelly production costs *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Learn more about your ad choices. Visit podcastchoices.com/adchoices
February 10, 2025
Money Expert: The GREATEST Wealth Transfer Just Started (Don’t Miss Out!) | Chris Camillo

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Ramp: Now get $250 when you join Ramp at https://ramp.com/ich Oracle: Cut your cloud bill in half—switch to OCI today https://oracle.com/iced Gusto: Try 3 months free at https://gusto.com/iced Raycon: Get Up To 20% Off At https://buyraycon.com/iced/ Subscribe to @DumbMoneyLive Here! Recommended Links From Chris Camillo: X: @chriscamillo Humanoid Accounts @TheHumanoidHub (X) @BrighterwithHerbert (YouTube) @humanoid_news (X) @tesla_optimus (X) @apptronik (X) @figure_robot (X) Add us on Instagram: https://www.instagram.com/jlsselby https://www.instagram.com/gpstephan Official Clips Channel: https://www.youtube.com/channel/UCeBQ24VfikOriqSdKtomh0w For sponsorships or business inquiries reach out to: tmatsradio@gmail.com For Podcast Inquiries, please DM @icedcoffeehour on Instagram! Timecodes: 00:00:00 - Intro 00:01:18 - Why investors lose money 00:02:23 - Chris' portfolio today 00:08:35 - How Chris made his money 00:13:18 - Sponsor - Ramp 00:18:21 - First job & big trades 00:25:44 - Sponsor - Oracle 00:30:30 - Best trading day 00:38:00 - Social arbitrage strategy 00:41:59 - Investment advice for viewers 00:49:33 - How long to research arbitrage? 00:58:32 - Robots & wealth transfer 01:06:49 - Sponsor - Gusto 01:08:16 - Sponsor - Raycon 01:09:35 - Biggest misconceptions about humanoid robots 01:11:43 - Downsides of humanoid robots 01:13:15 - Leading humanoid robot companies 01:18:28 - AI/Human relationships 01:28:20 - Eliminating distractions & conflicting advice 01:30:21 - Elon Musk’s inaccurate timelines 01:33:03 - Thoughts on Google’s quantum chip 01:36:29 - Market effects on robotics thesis 01:39:11 - Future of Bitcoin 01:42:24 - How to follow your path 01:47:25 - Good vs bad investors 01:54:39 - Balancing work & family 02:11:44 - Secret to marriage *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Learn more about your ad choices. Visit megaphone.fm/adchoices
February 03, 2025
“Your Diet Is Trash!” The Secret To Losing Fat, Building Muscle, & Living Forever | Dr.Mike Israetel

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NetSuite: Download the CFO’s Guide to AI and Machine Learning at https://www.netsuite.com/ICED ExpressPros: Get the hiring support you need at https://ExpressPros.com Ramp: Now get $250 when you join Ramp at https://ramp.com/ich Shopify: Sign up for a $1 per month trial period at https://shopify.com/ich NEW: Join us at http://www.icedcoffeehour.club for premium content - Enjoy! Add us on Instagram: https://www.instagram.com/jlsselby https://www.instagram.com/gpstephan Official Clips Channel: https://www.youtube.com/channel/UCeBQ24VfikOriqSdKtomh0w For sponsorships or business inquiries reach out to: tmatsradio@gmail.com For Podcast Inquiries, please DM @icedcoffeehour on Instagram! Timestamps : 00:00:00 - Intro 00:01:33 - What’s harder: 6-pack or getting rich? 00:04:04 - First fast food experience in Soviet Union 00:07:47 - Complaints about life being hard 00:10:18 - How diet affects mental health 00:11:50 - Sponsor - Netsuite 00:13:01 - How often do you cheat on diet? 00:14:08 - Interest in health and fitness 00:16:41- Taking fitness to a competitive level 00:20:09 - Lifting heavier vs. feeling stronger 00:25:44 - Does being swole help with dating? 00:26:48 - Why women like the dad bod 00:33:12 - Sponsor - Express Pros 00:34:08 - USA obesity issues 00:48:48 - Why are some food additives banned abroad? 00:50:13 - Thoughts on artificial sweeteners 00:57:09 - Does obesity issue need to be solved? 00:58:22 - Animal-based diets 01:00:37 - Too many opinions on diets 01:02:21 - Sponsor - Ramp 01:03:28 - Sponsor - Shopify 01:04:53 - Is the paleo diet unhealthy? 01:15:20 - Factors contributing to obesity 01:19:08 - Is stress beneficial for you? 01:21:36 - Thoughts on Brian Johnson 01:29:42 - Expectations for anti-aging 01:33:34 - Speculating on AI and robots 01:41:26 - Robot companions 01:45:58 - Argument against robot relationships 01:49:13 - Consciousness transfers by 2030? 01:52:39 - Bitcoin discussion 01:54:02 - Personal earnings pie chart 01:56:25 - How financial success changed your life *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Learn more about your ad choices. Visit megaphone.fm/adchoices
January 20, 2025

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