Do You Understand How Insane This Is?

[Music] Brought to you by chm, a biblically based alternative to health insurance. Learn more at chmin ministries.org/budget. So my question is, I am $230,000 in debt with me and my husband are. And say it again. Sorry, what was the number? $234. $234,36858. Perfect. There you go. You know your numbers. That's a start. Yes. Um, I follow the Every Dollar app and I go see my family twice a year in Texas. Uh, and I feel guilty if I do because I'm trying to pay off my debt, but I feel guilty if I don't because my kids wants to see my family. So, I'm trying to figure out how to get out of that guilt thing. We put a lot towards our debt every month. We put between 2 to 5,000 towards it every month. That's great. My husband makes a decent amount. So, is it okay that I go see them or like Yeah. I mean, I don't Yeah. The thing with um these kind of scenarios, I never say like, "Is it okay, yes or no, to go see family?" I think it's just not a moral issue. No, it's just how fast do we want to get out of debt? I mean, how how much money are you guys spending on these trips? Like one trip to see your family, how much would that be? Five grand, two grand, one grand at a time. like a grand a thousand dollar at the most. Okay. And you're doing that twice a year. So we're talking2 to3,000 a year. And you're not going into debt for these trips? No. I uh put it in my budget. I do the Every Dollar app. I put it in my budget to plan it out for that trip. Yeah. Um and I just pay a little less on my debt that month. Um Yeah. I mean, again, I think it's one of these things with any level of and I I would probably put this in the category of like a luxury because is there anyone sick? Like, is there like a oh my gosh, like you we we're going to go visit like we only don't know how many more years we have with grandma or is it just a this is a tradition we always go see them for these holidays? Uh it's more of a I miss my family, I get homesick and I like to go see them. Yeah. Yeah. Yeah. Which is totally fine. Um, so yes, I think it's one of these things if you and your husband agree that two grand a year, um, is going to put us back, you know, what, two months probably in a debt payoff in general, like is that is that trade-off worth it? And I mean, I would probably say, yeah, I mean, you know what I mean? Like I don't know, like we we've said like if people are getting married out of state or like there's a destination wedding or there's a funeral, right? There's reasons to travel and it's usually for more of a celebration or a event that is once in a you know something is happening. Um can they come to you or are they too old? Uh they come to us uh twice a year as well. So we see each other four times a year but they come to us and then we come to them. Last year we didn't go see them at all um because last year but this year why didn't you go last year at all? We were opening a we were opening a business and I had to really focus on that last year and so it was it was very hard on our mental capacity and I just had a newborn son. Okay. Yeah. So okay so Robin you I feel like you guys are very detail oriented. You're you know your numbers really well. What is the when do you think you guys are going to be completely debtree and it and does the 234 include your mortgage or is that all consumer? That is all consumer. I also have a mortgage of 430,000. Okay. And how much are you guys making a year? Um, so my husband makes between 15 and 20,000 a month. Okay. About two. Why can you only put two grand a month towards your debt? Now I'm mad. Uh, no. She said 5,000 2 to 5,000. She said 500. But you're make he's making 20 Why do you guys have $15,000 of expenses every month? Uh well, we have a pretty high mortgage and then my son is in uh school which that is about to change. So that number will go up. That number is going to go down because he's about to be in prek. How much is the mortgage a month? Uh 3,500 a month. Okay. And how much is the school a month? 1,500 a month. Okay. So that so there's $10,000 left. Where is that? And 5,000 we'll say is going to the debt. So they're living on five. Yeah. George isn't George isn't happy. Robin is not happy. That's just the It's gonna take you guys six years to get out of debt. Do you hear that? It's going to take you five or six years at this rate. That's at the minimum. So I calculated everything to the minimum and then anything extra goes straight towards our debt. Like this month we put 7K towards our debt. Okay. Okay. That's good. Okay. So then they're living on three. But can I do the math for you? I try to average average debt payoff for someone following the steps with Gazelle Intensity is 18 to 24 months. Now you guys have a lot of consumer debt. So that's just the average. So you guys might lean to two two and a half years, three years. But that still means you need to be putting 7 to 10 grand per month consistently towards this debt to knock it out in two to three years. And I want that to be like come hell or high water, we are putting 7 to 10 grand a month. Do you understand? That is uh that is our plan. Yes. Um but during the summer months, my husband doesn't get as much extra work. So he works two full-time jobs and then he's a wedding photographer and all of he does a bunch of side gigs and makes him a lot of money. But during the summer, that slows down. So I lowered the number the amount that we put towards the debt because we are making the minimum of 15,000 at that point. Okay. But do you see what I'm saying? I want you to have a fire and right now I feel like you guys are fairly comfortable. The way you're talking and the lifestyle, I want you to cut this down to nothing. You can still do the trip. The trip is not what's causing this. I think there's a lot of other leaks happening as well. And that's where this budget will reveal it to you very quickly. Hey, we made 20 grand this month. Where did it all go? But you're doing the every dollar budget, right? Yes. A lot of it recently has been going to the business. Okay. just now starting to make uh break even. Okay. What's the trajectory? Is this thing going to be making money in the next two months? Uh it's a franchise and I'm hoping it will. Um but we are currently breaking even. How much of this debt is tied to the business? None of that. None of it. Uh we have How much of it is cars? Uh this is only 40,000 only. I don't know what part of town you grew up in, but that's a lot of debt. It's a it's a it's a lot, but we have really good interest rates. We pay 500 per car. Um, and you're so lucky Rachel Cruz is here to be good cop. Oh, Robin, you're Robin. I'm I'm just telling you right now, call me back when you're serious and you actually want to get out of this mess, not when you want to tell me you have a great interest rate on your debt. I mean, you guys make a quart million dollars a year. Do you understand how insane this is? Yes. Yes, I do. That is why I am here. How much is that? Hey. Hey, Robin. How much How much could you get for the car right now? If you Kelly blue booked it, what do you think? Have you Kelly blue booked it? Probably not. I have actually for my car. I would get about 10 and I owe 20 on it. For my husband's car, I'd get about 20 and he owes 21 on it. Wait, wait, hold on. The $40,000 car. Say that again. You would only get 20 for it? for my car. I would get about 10 on my car. And you owe $40,000 on 20,000. Okay. I hear you. I hear you. I hear you. Okay. Two cars. 20 each. I hear you. Okay. So, 10 for yours and then what would he and 20 for his and 20 for his 21 on his. Okay. So, the way you know you could look at this is the 40,000 which you'd have to put 10 because you're you're you're you know underwater 10. But that's $30,000, which George, to your math of what you're saying would be, you know, the way she's going at five grand a month, you would save six months by just selling the cars. You could save six months of being in debt. So, let's do that, Robin. And that would show George that you are serious in the game. Robin, if y'all sold these cars in the next 10 days, then you're serious. Okay. That would be like, yes, we are. We are scorched earth. We are doing anything and everything to get out of debt. And that would be the move to make. That's six. That's saving six months of your time of being in debt. It's just from cars. So that has to be your mindset. That's what George, how you feeling? You okay over there? I'm doing better. Breathe, George. Breathe. Just breathe. Take some deep breaths, George. So that's Robin. That's the kind of stuff we're talking about. And then from there and and if you can get out of this franchise, it's feeling like it's sucking up money and your husband's already working like four jobs, what you're saying. So you you guys have a lot of busyness and and clutter in your life. So I would simplify everything and live a peaceful life. CHM isn't health insurance. It's a health cost sharing ministry. Check it out for yourself at chmin ministries.org/budget. /budget.