I F*cking Hate Them | Financial Audit - Financial Audit with Caleb Hammer Recap

Podcast: Financial Audit with Caleb Hammer

Published: 2025-12-22

Duration: 1 hr 53 min

Summary

Jordan and Matt, a couple from Arkansas, face financial challenges with a combined debt of over $82,000. They explore potential solutions to their financial issues, including budgeting and debt reduction strategies.

What Happened

Jordan, 26, and Matt, 24, a couple from Springdale, Arkansas, are grappling with significant financial challenges. They have a combined household debt of $82,569.93 and a monthly income of approximately $4,700, which is below the median household income in their area. Jordan recently started a job as a receptionist earning $21 an hour, while Matt works at a botanical garden for $11.50 bi-weekly.

The couple has differing views on finances, with Jordan being more optimistic and Matt more conservative. They have separate accounts for personal expenses and a joint account for household bills. Their spending habits reveal that they spent $5,000 in a month where they only brought in $4,500, highlighting a tendency to overspend. Significant expenses include $240 on a hair appointment and $400 on dining out.

Jordan's financial past includes co-signing for a water system in a previous relationship, which she didn't fully understand at the time. This decision, among others, has affected her credit score. The couple also discusses a significant purchase of a one-wheel, which contributed to their debt. Jordan and Matt's financial audit highlights the need to curb spending on non-essential items, which currently accounts for 40% of their income.

Caleb Hammer suggests practical steps for improving their financial situation, such as selling their car to reduce a $23,316 car loan and considering more affordable living arrangements. The couple is advised to bring in an extra $400 monthly to pay off their debt within two and a half years. They are also encouraged to save for retirement by contributing 20% of their income.

Jordan and Matt are exploring the 'Master Your Money' program, which includes a premium version of the Dollar Wise Budgeting App. This tool is recommended to help them manage their finances better. Jordan is also considering further education, seeking resources to fund a four-year degree based on a PTSD diagnosis.

The couple faces additional financial burdens from medical expenses, including a $3,395 balance for hospital co-pays and a $11,000 debt from emergency bariatric surgery. Jordan's therapy and previous LASIK surgery have also added to their financial strain. The conversation underscores the importance of understanding financial commitments and the impact of debt on long-term financial health.

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