"You're Sitting On A Solution And Won't Even Use It"

[Music] brought to you by the Every Dollar app. Start budgeting for free today. >> So, well, long story short, uh my husband is in the military, so he is on a fixed income and I work two jobs. We do live on base housing and so we live rentree, no utilities or anything, but he took a major pay cut because of that cuz that's kind of a catch to it. Um, and so we're struggling with this debt that's been ongoing. And it feels like it's just getting heavier and heavier. My family believes I should stop working two jobs and burning myself out and just take the free college he offered me cuz my husband's sweet and gave me his GI bill so I can pursue my college and just work one job and deal with the debt later. I believe I should continue to grind out with the two jobs and get our debt gone because I know I can do it. I just kind of don't know what to do. I I'm not sure. I just wanted your guys' opinion. >> Wow. How much debt do you guys have? >> So, I have roughly about 30,000 including my car and his is just two big ones. So, 20,000 on a credit card and 20,000 on a car. >> Okay. Does he need the car if he's on base? Could that be sold? >> It could be sold. I think he would be a little bit sad to sell it and also it was for a long-term kind of thing for future reference and trips >> that we hope to do later down the road. >> He's committed to this car emotionally. He put a ring on it and said I'm going to marry this car. >> We we wanted the truck for a reason, you know, because we want to do vacations and Moab and, you know, all these things. But it's >> Can I be honest, Phoebe? >> If I told my wife, hey, >> you can work three jobs if you want. I'm keeping this car versus, hey, if we sell this car, we could knock out like a third of our debt today. That would excite me and give you the freedom and runway to go to college if you wanted to. >> And if you sold yours and just bought like a Corolla that everyone would be like, "Why are you driving that?" You'd be like, "Cuz I'm free." >> Yeah. Halfway. >> We spit shake and say, "We're both selling." >> Do what? >> My car is almost paid off. I got 10 grand. >> Awesome. What's it worth? Uh, probably like four. Last time I had a Ford Fusion, it didn't value out that well, actually. >> So, it didn't value out and so you were like, you know what? I'm going to buy another one >> cuz I really like the car. I see you're getting out. >> You're incredible. America, I'd like you to meet itself. It's called America. I like these things and they're fun, but we can't afford them. You're like, I know, but we want to go to the desert and stuff and whatever. And that's why I don't believe in quitting my two jobs. >> What are you making total from these two jobs? >> No. Stop falling in love with depreciating assets. >> 50,000 in total. >> Okay. You make What does he make? >> He makes So he makes about 4,500 net income um a month. So >> And you make 50k net income per year. >> Yeah. >> So y'all make a hundred grand together. You have no bills and y'all can't make it. The debt has kind of kind of put a weight on us. Plus with the economy and everything. >> No, you make a hundred grand. Y'all have no bills. >> You guys are bringing in, this is my estimation, over $8,600 a month net take-home pay. >> But that is with me working two jobs. If I take away one job, then I only make about 40,000. >> But let's say you keep are you working 40 hours total? >> I work with both jobs about 60 to 70 hours a week. Okay. >> Or sorry, uh Oh, no. Yeah, that tracks. >> Okay. And you have a total of, based on my math, $70,000 in consumer debt? >> Yes. >> And how much are your actual expenses that you guys have to pay every month, including the minimum debt payments? >> My expenses roughly come out to I want to say about three three grand or so. Um, and then his um I think his comes out to he has about 1,200 left over. >> What do you mean? >> I have more left. So I know that after all his bills are done. He has 12. You guys aren't married for the whole month. >> You guys like Venmo each other. >> You just said he's got his bills, he pays. I got my bills, I pay. He has this much left over. I have this much left over. >> Right. >> Well, because I I I like to pay my bills. I'm very OCD about how I pay my bills and everything. >> You're just not OCD about being married. >> No, we're on our first year. We've been together for six years, but like we're on our first year of marriage. So, we're we're working on the colliding of uh income and everything, but I kind of like my stuff. >> Okay, here's the thing in a way. >> Like, here's the truth. Okay, this is just bottom line. >> Nothing in your life is going to change, and that's okay if that's what you want. The only way you get away from this debt, you go to school, you have peace in your life, you build an amazing marriage together, >> is you have to begin doing things that make you uncomfortable that you don't want to do period. And the irony is for me and George is we can see every day of your life, you're doing things you don't want to be doing, >> right? But you can't see it >> because I think I think the end goal is going to be worth it. And I'm scared to take that leap and go to college cuz what if in a couple years I do all the college and go to find a job and it ends up not paying me much. I I guess I'm overthinking and I just want certainty and with paying off my debts, I know that's something I can do. I can put a track on that. >> I I know. I know. But listen, >> I'm falling into it. You're like, you're sitting on a solution and you won't use it. >> Because here's the thing. >> I'm just like my father, right? >> It's cool, man. I accept that. He must have been a really handsome, quasi handsome smart guy. >> But like, if y'all sold your cars and you worked really hard for 6 months and y'all did not go out to eat a single time, you would be debtree. >> I know. >> You see what I'm saying? It's it's so I can't tell you and I'm getting kind of worked up and I apologize it's not at you. It's just that the whole culture we live in >> cuz it's right there. It's literally right here. And the number we just George and I in a previous hour talked to a woman on a fixed income who's 72 whose family has abandoned her and you're sitting on six figures, but y'all don't want to like not buy another crappy car that just gets older and dies in your driveway and take advantage of this glitch in the matrix where you have no bills. None. And you're talking about you're talking about not even suffering, just having kind of a bummer of a six months where y'all just going to have to make out more and go fishing more and go walking around more. Like that's the that's the penalty you will pay to not owe anybody anything come Christmas in January. You can quit everything and go to college for free. And as a taxpayer, think I am all about paying for um veterans and their dependents to go to college. I think that's an amazing use of my tax dollars. I love that and I want you to do that. But good God almighty, dude. Go for go for go debtree. Go with no >> basically stop dling around. >> Yes. I think this college dream is a distraction from having a reality. >> It's a Xanax. >> It kind of hoping myself. Yes, I I'm I got caught up in the whole wa we have to go enjoy life so let's not worry too much about the debt and it just kept going in that cycle and >> listen enjoy enjoy it like crazy enjoy it like crazy just and start enjoying it in 6 months when you don't owe anybody anything and that my sister is the true definition of freedom y'all aren't free y'all are owned by car companies by the base housing by all these other entities just say as for me and my house We choose freedom. It's the 4th of July. For God's sakes, choose freedom. >> It breaks my heart cuz we love military folks. They're fighting for freedom and yet they're living in a financial bondage. That's not okay. We got to do better. >> Create your free every dollar budget today. The simplest way to budget for your