$100,000+ Private Student Loans, Yet Borrows For A Stupid Tesla | Financial Audit
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- Опубліковано 8 вер 2024
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Im the guy that got certified, and make the same as him in tech xD these episodes make me feel better about my life
How long did it take you?
Out of curiosity where/what is your degree and howd you go about getting the job. Just searching indeed?
@@adammiller9029 i went to community College and then a state csu and only payed a few thousand, never had any debt.
It's so weird how in Europe you can make half what these guys (on the episodes) make and lead better lifestyles and even buy houses at 24 yo. @Caleb you should do an audit to some of us Euro fellows
My best bud from high school is the same. He joined the Coast Guard and used the free college to get a 2-year in computer science, but b/c of his govt status he has a really high security clearance and is certified. I was interviewed by the DOJ b/c I was his personal reference. He makes 130k in middle coast FL at the air base as a contractor and does weekend warrior in South FL. Certification is the way to go for IT and Cyber. Oh and joining the Air Force (mostly) or any branch is a great way to save money and earn security clearances that will then help land you higher paying IT/Cyber jobs as a civilian contractor.
Dude must be having a whole a lot of FUN to make 150k and living with his parents and still be in debt 😬😬
Yeah this channel really opens your eyes 😂 he coulda been rich lol
@@hanspz5505 for real. Like actual millionaires. Crazy lol
That’s crazy I could save so much
Lifestyle creep is real
Stupidity
It would be cool to see Caleb make a plan for a high schooler that is thinking or planning to go to college. Strategies for reducing or avoiding debt, or using alternate paths to avoid bad long term financial decisions.
That's a great idea.
Yess. Be proactive instead of reactive
Awesome idea! I send these videos to my nephew who's in college
Debt-Free Degree:
The Step-by-Step Guide to Getting Your Kid Through College Without Student Loans by Anthony O'Neal
I’d love to see him planning out vacation and fun budgets for them. Get to know what their interests are and teach them how to enjoy it responsibly.
Was in over $40k in debt almost year ago (wedding, honeymoon (14k for both) and student loan debt (26k)). Have officially $1200 left to pay and will be debt free!! Can’t fookin wait dooooood! Lots of sacrifice, no fun, and long hours worked. Y’all can do it too!! Also vowed to never go into debt again😅 only up from here. Get fkn after it ladies and gents!!
I’m proud of you!!
Wedding and honey moon not even close to being worth such a debt … smh should of found someone who wanted less 😅
@@franciscogonzalez6696 My wife and I actually planned it together and had a small wedding. The prices post pandemic are just astronomical. No regrets tho, hustling together to get out of debt just made our relationship even stronger. And seeing us willing to sacrifice a full year of no restos, no vacation, and no fun proved I chose well.
@@chontron3456 sorry but 40k of debt is NOT what most call a small wedding/honeymoon... And you literally planned out going 40k into debt together??? Wow. Either way though, gratz for digging out. And good luck in the future!
@@Mr_Buu I guess I didn’t clarify but 26 of the 40 was student loan debt👍🏾
This guy is humble and intelligent and genuinely looking for financial advice- and also willing to admit his mistakes (which we all make) I dig it 👍🏻
He gave himself a 4 so that's always a good sign.
Yeah, I though this guy was down to earth and seems like a good guy.
Very fortunate too, definitely drew a longer straw than most of us
Tech worker here. Was impossible get a phone interview when I was an 18 year old with only bootcamp experience. I tried everything over the next couple years. I volunteered for free on some projects to get experience and worked on my things to build my resume. Even took more courses after the bootcamp. Worked as a teaching assistant at another bootcamp and tutored students remotely. All of this and I think I only had 1 phone interview for a software developer role after 300+ applications and trying for 2 years.
Went to college for computer science and within 2 months of graduating I had 3 job offers, highest being $115k/year.
I'm just saying this to all the people in the comments and Caleb saying things like "you don't need college". I know there are tons of people who have stories that prove otherwise, but that has not been my experience. Most tech companies are not interested in an 18-19 year old with no experience. But if you're 25 and you've already had corporate jobs in an unrelated field, then you probably don't need a computer science degree.
My dad worked his entire career as a programmer. He got paid twice as much as the guy next to him. Because he had a degree.
@@Youre-WelcomeYep yep, Caleb thinks only financially and works as a UA-camr so he can’t really begin to realize that just because someone takes an unaccredited or unrecognizable “course” then that doesn’t mean they’re certified for shit. Doesn’t even compare to things like CompTIA, Sec+ or some of the other heftier certs, much less a masters or bachelors degree, can say I’ll be graduating w/ a master’s in cyber starting at 80-90k (decided to go into gov work vs private sector), but a lot of my friends got offers for 150k+ with a masters in cyber at places like Palo Alto or FinTech, good luck getting there without a degree lol
Came here to say this too. Love Caleb and totally get there are exceptions and the field is increasingly friendly to those without degrees, but I’ve heard overwhelmingly that it is brutal if you don’t have a degree.
@@Youre-Welcome and the guy who's got popular open source projects will probably earn four times your dad.
@GameFuMaster how many people get popular on open source projects? Top 1% of programmers?
My situation is nearly IDENTICAL to this guy.
1) 100k in school loans
2) financed a 55k car
3) make over six figures
4) I’m 24
5) my gf is a teacher
6) I live in Massachusetts
7) I’m in engineering
This was a wake up call to say the least
good, dump the girlfriend
@@Dre2Dee2 I can’t she too good for me 😭
Yeah I think the financial situation is a lot worse than many are making it seem. Yeah he makes a lot but look at that freaking debt
@@ianstephens333 agreed. Debt is scary
@@agaut880 which is why shell leave you anyway after taking your money. stop being stupid, shes B R O K E. You have 100,000 reasons to ditch her but youre not, so I look forward to seeing your episode on here
This demonstrates why financial education is so important.
This dude makes over $8000 a month at 24, live with his parents and accumulated so much debt because he lacked financial education and understanding; he should never had been in that situation but credit to him to get things sorted.
Maybe some of is lack of financial education. I think it's just self entitlement and being spoiled? Never hearing the word 'No'
It has nothing to do with financial education, it just has to do with common sense and a little self discipline. This guy is an engineer, he understands just fine how compound growth, which is just basic algebra, works. He just couldn’t tell himself no.
@@adamseidel9780 exactly these are really just grown kids that have money. Ive nvr made over 45 k a year while paying 1600 month for my half of rent. Own my own car, truck, and am looking at a boat. That was after i saved 2 years worth of rent and 2 years worth of medical maxouts as emergency savings. Would have bought a house if the average price wasnt 1.5 mil were i live. These people just need to grow up more then anything
@@blue-wb8yn That is a whole lot of guess work on a person who seems to very much own up to his mistakes and sorting his mess out before Caleb was even involved.
Parents are to blame.
This morning I finally paid off all of my "bad debt", I started paying off my credit cards and loans in February and stuck with a game plan thanks to what I've seen on this show. Feels good to see the light at the end of the tunnel, I just have 9k of my car loan and 3k of student loan. My upstart and credit cards are all gone I can't believe it!! ❤
Good work. Keep at it 👍🏾
@@krisjustbegun9740 Thank you 🙏
I'm thinking off paying off my student loan even though the interests is non-existent here in Sweden xD
Amazing!
Congratulations! 🎉👏🏼
this is the most normal person ive seen on this show yet, like he knows he fucked up, actually acknowledges where he fucked up, and doesnt find excuses
I believe in this guy, he seems humble and like he’s going to make changes. I think he’s going to come back with a better audit and a good life update.
This guy could have been debt free after two years living at home.
Now he is screwed for quite a lot longer... especially because he is unlikely to 100% change in the way that he needs to.
@@someone-ji2zb he could have built up so much money for a house. His parents did not instill delayed gratification into him.
@@someone-ji2zb He's not screwed, he makes good money and is happy with his living situation and met his life partner. Just needs to make some changes and he'll be fine.
Honestly feels like y'all want him to be screwed and not be able to get out of debt for some reason, kinda fucked up. The man is in a better financial situation than like 90% of Americans probably.
@@BlitzSixx I highly agree. Some of these comments are like “misery loves company” .. this man came on the show for help and got it and will do much better financially
@@candy2325totally agree he’s literally fine
I love how caleb is like, "we're" not getting a house right now. 😅 hes now part of the family lol
Right, I think housing prices in the United States are really high and most people can't afford a mortgage. Apartment rents keep increasing yearly.
@marcopolo3109 for sure, we keep waiting to buy. Everything is so expensive, and we are hoping it will eventually come down. But our rent is also very expensive
@@MindyGail Totally agree, in my situation I rent with a roommate in a two bedroom apartment that's really pricey. Monthly 50% of my paycheck goes to rent and I think is not fair because years ago rents were affordable and I was able to save more money. I wish too for buying a house, but that 20% down payment and other pre requirements make it impossible to own a house now days, even by having a good salary.
@marcopolo3109 Yeah, I'm married. We rent a 2 bedroom apartment. It's about 30 percent of our combined monthly income. In our area, homes have gone up 100k plus in price on the past 5 years. Homes that were once selling for 120k-130k are now going to 250k to 300k... it's insane and I'm scared to buy because I don't want the market to go down and then be upside down on a home. I feel like my husband and I make decent money, and I wouldn't feel comfortable going about 250k to 300k for a home. Idk who's buying these 400k and up homes. Which is the average for a decent home.
Inserted himself as the rich smart cousin. 😂
My daughter is 2 years old and I can’t wait to teach her financial literacy. I had to learn everything the hard way(new cars, credit cards, high interest long term loans, etc) and it set me back YEARS. I’ll be damned if she makes $150k a year and ends up in the predicament this gentleman is in.
Not gonna lie his predicament is a dream come true for most people. Even with a $900 monthly tesla payment and paying rent of maybe $1200 he would still be fine with a 50/30/20 split
Started my kids pension when he was 2, paying small monthly amounts. Makes more sense than buying yet another plastic toy.
Start now! Start teaching her about what money is and get her participating in grocery shopping, there are a few financial literacy games out there designed for kids under 6 that you might want to check out.
My daughter is 3 and she helps me with all the steps of grocery shopping including scanning and paying and we play a piggy bank savings game where I'm teaching her the different coins as she puts them into the piggy bank to save. Also have her present for money conversations, especially savings for her, bring her to the bank for education fund discussions. Make it so normal and a part of everyday life that to be anything but being financially responsible seems weird.
@@madalynnr9940 That’s great. But please don’t have her scan and pay if anyone else is waiting. You can point it out to her and teach consideration at the same time.
You didn’t have to learn everything the hard way. No excuses.
I liked this guy, he’s gonna do just fine. It’s a nice change having a more hopeful story for once, last few audits had me feeling depressed for them.
Nah I’m here for the depression train
@@johnparker4484 Makes me feel good about my 4k in student loans I've been paying off lmao. 4k seems like a small hill compared to the astronomical amounts on this show
I appreciate videos like this to show me how well the path my dad put me on was. I was able to get through college without taking loans, went to a cheap school, had a little help from parents, worked throughout. Was able to save up and buy a house at 25, and when I did get married was able to get my wife out of debt too. Now at 35, have a decent egg saved up, and an planning a career change, which I would never consider if we weren’t stable. Big thanks to my dad to getting me started right
This is sadly the case of most young adults. Social media pressures them to try to keep up and “look” affluent. But really they’re just burying themselves in debt and preventing any kind of retirement.
It's a story as old as time. Keeping up with the Joneses
The root cause of that problem is people not realizing their enough. Life gets a whole lot better once you realize you're seeking validation from others and start walking your own path
Yah its not just social media happens to every generation
I mean keeping up with the Joneses has been a thing for decades but social media has definitely made it worse. You just have to try to be happy with what you have and think about your long term goals
Who’s gonna tell them a lot of blue collar workers are secretly millionaires
As someone who lives in Massachusetts, renters have crazy rights. It's unlikely they could kick her out even if they wanted to.
That's what I was thinking.
Landlords should have to disclose nuisances, just the same as sellers. Most renters can’t afford to pay another deposit and move again, lose their cleaning deposit because they settled in and hung things on the walls, plus it’s a huge time imposition. And most landlords won’t just let you off the hook when you break the lease.
Say she " accidentally " fell out a window
@@TheIronChainMaster😂😂
@@TheIronChainMasterhaunted neighbors are even worse. Moaning Myrtle AND neighbors.
I love these videos because it goes to show that just because someone makes a lot of money doesn’t mean they’re financially secure or educated.
But props to this guy for wanting to get it together early on in his life. He’s not waiting until he’s like 40 to realize he needs to do something.
I really liked this episode!!! Weirdly enough!!! The guy was chill and admitting every mistake. It's also refreshing to see someone living with their parents, even with a good income. It just makes absolute sense, he's so young. And thanks to that situation, he can get himself out of this huge debt. I want more community life to be promoted. It's a classic story arc: kid makes bad decisions, will still pay the price while getting support. He will have learned big life lessons by 26!!
Growing up in a family that was not financially stable and never stressed when they really should have, as soon as a got a touch of some real money at 20 I kinda went wild. Now at 23 almost 24 I’m trying to fix everything and get ahead so my boyfriend and I can have a financially stable life. Thank you Caleb for helping me realize that my mistakes in the past can be fixed and giving me a wake up call so I stopped spiraling.
This doesnt just apply to you, but a lot of people I see on this show. 60k in debt, make 120k a year, for example. Literally, live in the normal poor parts of town for year. Ive lived in the ghetto all my life - close to makin real money now. People can live in the poor parts of town and be ok for a year. No one is going to break into your house and try to take your stuff just because you are in a poor area.
It kills me that a person wouldnt live in a shithole for a year to fix a situation like that ASAP. Goodluck and stop being dumb.
While I was searching for a car, I really wanted a Lexus. But as soon as I reflected on the real reason behind my want, I knew it was the stupidest decision.
I’d rather be rich than look rich
Same here
Yup! I wanted a a mercedes ml and so I went and got a 15 year old ML diesel that I paid 2k for and i get stopped daily about how nice it is. And I have no car debt.
Part of me wants a new Lexus or Acura . I currently drive a 2004 Acura TSX and the ride I have is great. Drove recent corollas and accords, and not a fan. I prefer my 2004 TSX vs them. Making me think I'd only enjoy another lexus or Acura 😢
Lexus CAN be smart. I bought a certified pre-owned, with unlimited mile warranty for 10yrs($4k). I drive ~60k/yr. In 10yrs they will pay ALL repairs for 600/650k miles. Total cost of ~$50k(out the door). That is 5k/yr, repairs included.
Be rich and look / live average. 👍🏻
He could be saving $7000 a month easily. Crazy irresponsible.
If he’s not a millionaire in 5 years he should be in prison
Why. His parents are paying his bills. He can have fun...
@@chillinvillin21 the point is he won’t be able to have fun later in life cause he would still need to work to earn a living.
@@chillinvillin21 he spent $89k worth of fun last year... I think it's time he grow up and be responsible.
@@chillinvillin21you're the problem in society today
The power of his income makes his past poor decisions so much more manageable. I make half of what he does but it'll take me probably 8 times as long to recover from similar past mistakes. Good for him. He seems like a decent and smart dude, I hope he sticks to the plan.
This guy is taking accountability and seems very humble. I know he’s definitely gonna get out of debt im rooting for him
After watching several of these videos, the main issue I see is the overspending and lack of budget. It's the typical American debt cycle and it's interesting to see this at both the micro and macro levels
As someone who does the same job as the auditee here, I'll say the CS degree is not necessary to get you started but the academic knowledge you gain does become very important the higher up the technical ladder you go. It can mean the difference between maxing out mid-range and keeping on climbing. It's only ever going to be worth it if you put it to good use though. Also, the knowledge is not necessarily only obtained via a degree program, you can always cover the material with self-study if you are so inclined and can keep your motivation up.
Also a lot of bootcamps and certifications have costs comparable to state colleges!
CS degree can get you into more conservative places of employment, too, it expands your options.
Facts. My husband has driven cranes for years but he can't get hired as a crane operator because he doesn't have that one piece of paper 🙄
This is absolutely true. I work a lot with people in the silicon valley and the wealthy top people don't just have bachelor's degrees but Master's degrees even.
Yes I agree!
Caleb, really digging how you show the breakdown and total debt in the right corner. I felt it was something that was missing previously. Good stuff as always!
I don't get why people criticise his debt so badly. That's what got him that wonderful salary and why all the math works out so beautifully... He bought a Tesla, that was not a great decision, but he seems to understand his mistake and is willing to pay the price to correct it asap.
It seems like people nowadays think that going to university and getting a professional career is stupid, but then again, how many of the people pointing fingers are earning/earned ~140k/year at 24?
There's absolutely no shame in being an engineer, but rather the complete opposite. People seem to forget that things in the world neeed to be built and improved for humanity to keep progressing. Where would we be if everyone were uneducated tiktokers?
He got carried away with the car, but I see someone set for great success there. Good on you John, I hope you keep killing it.
I think this guy will come back for a check in and be successful! He has a good attitude.
That’s my brother!!! Love you, kiddo. You are so brave! I believe you will get outta this debt. Thank you, Caleb for helping my brother 💕
Heck yeah
tell your brother to grow the f up
Yooo nicely done sis! Cool to see how quickly someone can turn around bad financial habits when a person they trust helps them out like this.
Talk him outa that ear ring. Someone’s gotta do it
This hits too close to home as a Wentworth Alumni with a high paying Engineering job. Lifestyle creep is a bitch.
Hypothetically he could put all his money towards his debts and pay it off in less than two years. If he lives at home
Not me refreshing my UA-cam feed for the last two minutes… HERE WE GO!
Me too 😂
Once this guy pays off his debt and becomes intentional, he is going to be in GREAT shape. We’ll done! Just tighten up a few of those areas!
I’m obsessed with Caleb and his videos. My hubby and I were in debt 15 years ago, nothing like these ppl cause we never had student debt, but we’ve been together for 38 years, we are on our way towards retirement, in 6 months our house will be paid off, don’t give up ppl, we had no guidance and we were able to do it. 😊
6 figure student loan debt and pulls the trigger on an auto loan for a spendy Tesla anyways…sounds like a lot of cardiologists and surgeons I work with in healthcare.
You must be wealthy😊
@@victorbaird8220 - No, sadly. I wish, though! I’m just a lowly, middle class wage earning technologist who works with a lot of wealthy physicians.
But It's to save the planet!
Cardiologists an surgeons make wayyyy more than this guy
@@ianstephens333 - I do ok; just over $100k gross. But, yes, you’re right, interventional cardiologists and cardiothoracic surgeons can easily earn 10 to 20 times as much as I do, depending on their experience, the hospital, and location.
These certifications are beneficial mostly when you already have a degree, regardless of the degree. Someone with a High School education with a cert is going to be overlooked versus someone with a degree + certs.
Yeah! A lot of people who know nothing about tech love bringing up you can just get certified cause of some success stories they’ve heard. You are in a better position as a college graduate regardless and statistics show that
@@Exploringwithisha You start at $15/hr at hte help desk. After 10 years then you move into your field.
Oh god my mom lives in Mass and she was like that neighbor that wanted it perfectly quiet, would call the cops on people, made people move out, so thankfully we got her into a mobile home so she didn’t share walls with anyone and continue to make them miserable!
That was kind, to help her into a place that was more comfortable for her.
How is it your moms fault? I am the same way and im 36 year old man. No one wants to hear your BS that you got going on next door. Not only that the neighbor should have some common courtesy and not be so loud - you cant just do whatever you want living next to people.
I can promise you better hope you arent one of these people that expects a neighbor to deal with your loud, unnecessary BS. You live next to a person like me, Id make you move out too - but only because Id make it so fukin unsafe and unpredictable around the area that you would want to leave. Ive done it before.
OR.........just stop being so loud and thinking everyone has to take your BS. You cant just act like how you want or you WILL come across someone, one day, that aint playing your games.
this is exactly why I only rent houses, and not apartments. I'll be damned if someone's tell me what to do in MY own house lol.
In my experience working at a credit union near a major medical tech hub, people who get paid a lot of money quickly (or from a young age) do not necessarily have an actual understanding of how finances work and have some of the worst credit and nothing invested. That's why shows like Caleb's are so important. It's blunt, honest, and gives real applicable advice.
I would be embarrassed to buy a Tesla while living with my parents. If I was his father I would call BS on that.
I'm more surprised that he bought such an expensive car but worked from home and realized he didn't really need it
I would be embarrassed to buy a Tesla.
Yea buying such an expensive car while you work from home is hilarious 😂
@@Tmp130you couldn’t afford one, so you can save the embarrassment 👌🏼
@@MrSKlimhaving taste =! unable to afford
A 3090TI for CSGO? That's the most insane purchase on this show
🤣🤣🤣
my 4700k and 1080 still have me sitting pretty😂
@@FlakesJK yeah no kidding. This guy bought it to say he has one lol
bro shoulda shared his cs go inventory😂.. bet hes dropped crazy money
He is taking it so well with having to cut down on so much stuff so fast! He's like I'm down for this! Get me out of this mess. Whatever it takes, his fiance is getting a husband with a great income, a lot of smarts, and a passion for caring about her!
I'd like to see a review where someone has an overall "good" position, low debt, a good budget and savings etc has some goals they're working towards and see what can be done to make it better :)
If I were his parents, I would be okay with him living at home if he were working on paying off the loans. If I then saw that he took out a big car loan on top of it, I'd be MAD. His parents should have been giving him advice about this stuff and making sure he was working on what was important while living at home.
Agreed. They are not doing him any favors
His parents are half the issue.
You can give your kids good advice on finances, but when they become adults, it's all on them. People are going to do what they want to do. Can't blame his parents.
@@suesteig3025 Sure, but he lives with the parents still. They could set boundaries in order for him to continue living with them.
@@maize3239People are adults. Not how it works.
Thank you a lot for these videos. You have helped me start understanding a budget ( even tho I can’t follow super strictly ) but I’m strictly paying my bills all the time and never late. Since the start of the year I have payed my 2200 credit card bill down to 500 ( as of this month ) thank you Caleb. I will be set in a matter of time.
You’ve got this!
Can’t imagine buying a tesla personally. Really just don’t see the allure to these cars. Build quality is sub-par to alternatives and the charging infrastructure just isn’t there yet.
I don’t see the appeal either I think they’re overhyped
At 24 I wanted one because they were cheaper than other cars i was interested in (after rebates) It can drive itself, and its crazy fast. Didnt buy one "to save the turtles" lol but I pay around 43$/month to charge at home. The charging infrastructure is debatable. We have all these new developments being built, yet somehow we cant support charging?? With how many people dont like EV's, and those who do usually charge at night, and often not every night either, i just dont feel like EVs will harm the infrastructure that much compared to people running their AC's during peak times in the summer.
People like what they like. It is what it is!!
@@IMAPOTATOZ my criticisms aren’t the power draw rather the feasibility of charging tech now. It takes a few minutes to fill up your tank as opposed to 20 minutes to charge a drained battery to 80%. EVs work for day to day commutes but not so much for longer road trips. Don’t get me wrong, we will get there but as to when, who knows.
That’s why ford and GM are partnering with Tesla charging infrastructure because “ it isn’t there yet” 😂😂😂😂😂😂
He DOES pay rent but it's only $150. He also pays $100 for internet and $200+ for phone. So his monthly are $600-650 including food. Sounds much more like a free loader until that's factored in.
I wish someone would bump this comment. He helps our parents in more ways than these commenters know...and they do not know the reason he is choosing to live with our parents. I have to bite my tongue about any personal details because he asked me to! But the lack of empathy in these comments is really getting to me. No one knows someone's whole story from a UA-cam video (unless that's what the video is about).
@@sylvia9290either way he’s going to be extremely well off in 10 years if he follows the plan Caleb laid out, so no need to even acknowledge the negativity. It’s just a smart move short term so he can actually afford his own place long term instead of renting forever, a respectable decision
I'm recently retired. When I went to nursing school I went to the local community college and got my RN for $3.00 a credit hour. A nursing block was $12. a semester. The hospital I worked for paid for my bachelor degree. My entire RN degree with books and labs cost $700. at the community college 40 years ago.
Yeah and you probably bought a house for only 2 gumdrops & a shoelace too. Lemme guess, you’re a millionaire as well? What a mess we’re in now.
That’s fantastic
@@laurab9518 it’s absolutely not
Tech bro's gonna be fine. He knows what the inputs and outputs gotta be and he's got time to make it all happen and get into his career.
Valid point, as long as the mental health remains stable. Judging by some other people appearing on this channel, it's not a guarantee once in some pretty bad debt.
As a Cybersecurity Operations Manager, I hate to see younger folks get a big salary in IT and just blow it. Best thing some of the younger folks going from making $10k/yr as a student to $60-80k after graduation can do is spend a few years continuing to live as a "student". The massive difference can do wonders for paying off any debts, getting a down payment ready, and otherwise setting them up for success.
as a Cyber student this is exactly my plan, live with the parents if they allow and pay the debt as fast as i can then focus on building wealth
Caleb is 100% right about Tech Jobs, you don’t need to put yourself into debt especially 100k for a tech job. Just do the Community College then 2 Years of a State Bachelor’s program and you’re good. Just because one goes to Community College doesn’t mean one is dumb, life happens. The dude in the video is lucky as well since his parents will allow him to live with them. I’m 25 and returned to college via the community college route, I need 2 more years but I know it’ll be worth it.
My brother is a flight controller at NASA. Started at our local community college, transferred to a small in-state D1 school to finish his engineering degree. Been with NASA ever since graduation.
I did this. First day of college at 34. There was a Phi Theta Kappa honor society that I joined for $80 and all I needed to do to maintain membership was maintain a 3.2 GPA. I did, and when I transferred to the local University I got an Academic scholarship. Graduated this past spring with a BS in CS and not a dollar in debt. Make sure you check out all potential options at your CC. I have a bunch of friends that could have done similar but weren't even aware of scholarship programs and had to take out loans when they could have had scholarships.
You absolutely need to go to college, the amount of people that go through a bootcamp or certification and end up unemployed is huge, the ROI from a CS degree is really high and graduating from a 4 year degree makes it much easier to get that job that pays great. Just go to a state school and get it, it usually costs comparably to bootcamps anyway.
As someone who dropped out of school and pursued software engineering, I definitely wish I just finished school. The amount of work I put into it to get a job and network to convince some company to hire me, it would have been way less stress and arguably worth the cost of college. Granted, I am doing great in tech without a degree, however, it's not easy with just some certifications and no school.
Yup, almost all of the places I applied to required degrees in CS. I wouldn’t have my current job (Software Dev) without my degree. I have a family member who is a talented UI/UX designer (strong portfolio) but is a boot camp grad and is struggling to get a foot in the door anywhere.
Most rich people stay rich by spending like the poor and investing without no stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
My first investment was with Shanita Creswell, it gave me profit of over $80,000 Us dollar...
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
A common mistake we newbies make is venturing into the market without help and legit guidance
@JuergenWoehlert I invested $10,100 with her and she made profit of $53,000 for me just in 5days
I really appreciate you adapting your methodology and justifying why there's nuance. It shows signs of growth as a content creator. You're blowing up, and you're handling it super well, all things considered.
John's #1 asset is his earning potential. Make sure you are making positive impressions on your coworkers and keep your ear to the ground for new opportunities to increase that potential. Gaining 15-20% when switching jobs is common in tech. It is also common to use job offers as leverage for big raises. Just make sure you stay around long enough to not have a bunch of 1yr stints on your resume. John could easily be making double that in a decade.
Luckily, being frugal and working hard are easier to do together. Especially if you work from home.
Caleb would you be interested in doing a new series like financial audit where you help people who are doing well with their finances but want to take the next step with their finances and make their situation even better? Like giving advice on if you should invest more money, save more money etc. your videos have really helped me a lot so thank you!
Would get 1/10 the views probably. I watch these to make me feel better. Dont need to hear how people doing much better then me are going to do even better😂😂
@@junioradult6219use it as motivation lol
@@junioradult6219what!?? Use that as motivation! You don’t want to use others struggles as a means to feel good. No way keep pushing 🎉
I am sort of in this situation but: 1) I got to where I am by being financially literate so having him review my finances would be more about a brag trying to disguise as a humble brag & 2) I cannot have my financial situation broadcast like these folks do because the difference is they have nothing to lose other than embarrassment nothing like being a target or being treated differently by people trying to financially prey on you.
It is an almost unspoken rule that people with money do not discuss it publicly. Very rarely do good things come about from flaunting it and often bad things do because there are bad people out there willing to do bad things. While money isn't the root of all evil once people know you have it then for bad people there is a target on your back. Don't target paint yourself in life.
Is he a financial planner?
Took me about 3 years in tech to land a 76k a year job. 8 months later I landed a job that paid 100k a year. 3 years after that I was making about 115k and 2 years from that I am at 130k.
Getting your foot in the door is the hardest part and the single most important thing is work experience. That’s it. Reigns true for just about any field.
@@word42069 yep. Mine was the military. Military experience can be just as valuable as a 4 year degree if not more in certain fields.
It also gives you the ability to affordably earn a degree since if you're active you can do what is called CLEPing classes which is essentially a method to just take a test and earn credits towards a certain class. Then you get tuition assistance while you're in to take classes. Then after that you got the GI bill.
In the air guard which is what I am in there are also state programs that will pay for your schooling. You can combine that with grants and still earn the post 9/11 GI bill.
I did none of this since it was unnecessary but for the young guys straight out of high school I make sure they know this option exists since they got the time to invest in order to earn that degree.
Two months ago I was enrolled in a private college out of state that would have put me 120k in debt before my (required for field) masters and interest. I initially chose this for the same reasons: in my area, good grades meant you go to a good college. I recently transferred out to a school that I can afford to pay for out of pocket and my predicted debt goes from 120k to 59k. I hope this video deters others from making the same mistakes.
"That's a delicious income" 😂
I friggin love Caleb!
This reminds me of when I graduated from university and did a lot of part-time jobs. I was able to save about $10,000 at that time, and I was debating whether to use this fund for investment or to get a brand new car for work. The best decision I made was to buy a cheap used car and invest the remaining balance. After 10 years, I’m still driving the old car, but I feel financial freedom. I can afford to buy Tesla anytime by now but I jus hate debt
I’m in a very similar situation and you just changed my perspective so thanks! If you don’t mind, what car did you end up buying?
Skip the Tesla altogether, there are much better alternatives out there for you.
@@chdosi I'm still driving the old car Toyota Camry 2001 until it breaks down. The car has 300,000 mileage on it.
@@Romerix11 What I mean is my investment return able to pay off for a brand new tesla without taking any loan.
Being financially stable is important but don't forget life is not promised to any of us. Its okay to buy and enojoy things you can afford!
Emphasis on Can. These examples are people spending what they Can’t
@OhsoWoobie it depends on how people prioritize. Finances are extremely personal.....while one person may want to invest for the future, another may want to live in the moment. It's their life their decisions! His car wasn't getting repossessed so technically he can afford it and making his payments on time but when you reorganized his priorities then sure maybe one can say he can't afford it. To each his own!!!
Big reality check coming for a lot of people when these student loan payments resume.
@@spf_500 Tell that to any student loan borrower, and they'll scream at you
Wait? Joe Biden told me if I voted for him and Cumalotta that he wipe wipe those out????!!!!!
@@briansmith8390 He did. $20 billion in fact, via debt cancellations for targeted groups - disabled, defrauded, & public service workers. The broad based forgivenness was crushed by conservative judges (imminently) and Republican Senators.
@@spf_500 lifestyle creep is a thing. People get used to spending a certain number and dont budget to spend LESS.
@@spf_500you say that while watching a channel full of ppl unable to budget
I love how the best situation so far on the show is still only a 4.5 out of 10
This guy’s situation is so close to mine that I had to comment. I have $103K left in student loans, most of that private. I have no other debt, cheap rent and a paid off car. I took out the loan because I badly wanted to be an engineer and had no way to pay for it. Luckily, I’m now an Electrical Engineer making a bit over $80K in my second year of working. I haven’t been terrible with money otherwise up to this point, but I’m getting so much better from these videos. Thank you for all that you do!
Put EVERY spare cent towards that debt.
You are incredible at immediately implementing suggestions from your audience... You don't have to.. but you did . Super cool.
❤️❤️❤️
I really appreciate both the people who come on this show and you, Caleb, for hosting it. I learn best through examples and other people's stories and I was able to sit down and think of actual tangible goals of how much I need to make over the summer in terms of student debt and mitigating expenses over the semester. All that's left is the discipline to follow through, the patience to wait for progress, and the flexibility to adapt as I make or miss certain goals. Easier said than done but I feel oddly... settled about it all.
I look forward to where I'll be financially in a year.
You sound very mature! Good luck and make sure to push yourself to stick to your plan!
Hi Caleb! Thank you all of these videos. I immediately watch them as soon as a new one comes out. I’m a huge fan!
However, I believe your subscribers (and myself) would love to hear about you and your debt journey! You even mentioned one in this video. You are so knowledgeable that I’m sure that comes from your experience as well. As much as we love hearing from your guests, I know we’d love to have a dedicated video geared more personally from you. ☺️
I work in tech and the amount of kids I see who graduate, get their first job and then immediately buy a $60k car is hilarious. It's the old joke with fresh Army recruits buying Cameros but it's fresh Junior Engineers buying Teslas and BMWs LOL
Sometimes I feel horrible have $3000 on a credit card, despite having no car payment or rent or anything. Then I remember these videos, and I feel better
I was lucky that my government refused to give me a loan for college because my parent's made too much (they dont even make that much, and they were not helping me with school).
Felt horrible in the moment to be the only one of my friends sweating away all summer and through school, but now im in a much better position financially because i have no debts.
What year was that?
Same thing happened to me! Except it was not good as I had to totally pivot my plans. I have no debt either, but everything stalled for me.
So what is your occupation?
I like that you added the payments/debt amounts to the bottom right. It helps me follow along while I'm doing other tasks. Thanks!
24??!!! He looks like a divorced father of 4 who's still paying for the house for his ex and her new man 😂.
This one hits home. I made the same 6 figure stupid debt choice for my master degree. I was already in deep debt with my bachelors. All I can do is work and pay off those student loans even if that means for the rest of my life. I'm actually working on a tech certificate and plan on getting additional tech certificates. Since I've put the anticipated dates of the tech certs on my resume (luckily, I have some experience in tech) I've been getting calls from some top tech employers which I find pretty exciting.
Miracles and wonders. To actually see Caleb saying someone is a creditcard person. And on top Caleb allowing money for fun.
John came already to the right conclusions, Calebs advice is only a confirmation how to tackle this mess best.
this is awesome he seems like a good guy wish him the best!
Did I miss Caleb's financial audit of himself? I thought that was promised hundreds of thousands of subscribers ago ;)
August!
I thought he did one right before 50k subs?
Ha! As a Tesla shareholder, I thank him for his business. 🤣
🤣🤣🤣
Hi. I am so happy to watch your videos. A Greek girl living in Australia. I can say I have started to think differently for my finances. Dimitra
Caleb, you bring joy to my morning hahah! Thank you for working so hard. Can’t wait to watch the rest of the video!
You're the best!
Instead of spending money to seek recognition from people who don’t care about you, save your money to avoid recognition to focus on what truly matters. Family, faith, and self.
Hate to tell you this but you need a degree in most companies. A person with a degree will be chosen vs a person without a Degree almost any day of the week in most companies just for status reasons.
Naw not anymore. Experience is key
You mentioned the aspect of not needing a degree in tech - this is so true and I’m living proof now. I took a free online course for iOS development, it was a 100 days course, 2 months after completing the course (and working on my own apps using the knowledge I learned) I got offered a position as a software engineer at $55/hour USD in the Pittsburgh area. Truly, I am SO glad I don’t have student loans and I landed in a lucrative career path. Happy driving my paid for 2010 civic SI I bought in cash 4 years ago 😂
Ive been living in Rhode Island for almost 3 years and I can tell you, dont under-estimate the cost of living in New England 😂
As someone in tech, there are two types of tech jobs,
A) "Real" SW Engineering, where you basically _have_ to have a degree, if not a master's, to be at all useful and keep up. You HAVE to be a good problem-solver and abstract-thinker as well as understand details.
B) "Other" "engineering" jobs where you're often just using vendor-software, low-code or no-code. Here, a certification is fine, but you'll drive the "real" engineers crazy if you're ever making technical decisions...
Agreed. Certifications in no way replaces a degree. Most high-level tech jobs require at least a bachelor’s.
Caleb’s podcasts are all that gets me thru my work day 😂
Great episode, two things worth adding:
1) control the wedding budget
2) buy a replacement car before a home
Well if he works from home he doesn't really need one. My husband and I share a car because he works from home. It's really not worth the expense for a small inconvenience and if we really need to we can use uber.
@@c457jajsudbeyup. You can uber and just go home right after for the next 1-2 weeks while your car gets fixed/insured and depending on your insurance, you'll get a free rental to use in the meantime.
I live in CT where we pay taxes on our cars every year. I asked the tax collector what the highest bill was for 1 vehicle that she's seen this year. She said one guy owed 3,200 on his car, which was a Tesla. That's paid every year. Please tell me more about how much you save on gas.
not having a rent payment while trying to save for a downpayment makes owning a home soo much easier. Guy is lucky for his parents.
People need to stop shaming people for living at home with their parents. As long as they are ok with it and you are able to contribute in some way, there should be no issues.
Spiritually and psychologically, it is absolute cancer to do it. Incorrect.
Maybe for those with very low incomes or have experienced a health crisis or other emergency. If you're making 100k, are healthy, and have no children you probably shouldn't be at home.
@@weird-guy I agree until they get married, but if they can work out a year or two before moving out, that would set them up to be more secure financially and less likely to move back home if anything bad happens.
@@Dre2Dee2 I see where your coming from on this issue as well. However, if you look at non-western families, they are set up where the children stay at home until they are married. I've also seen it where siblings that are married and have kids move in with each other to split living costs.
Now knowing Caleb plays counter-strike I like him even more. Man of culture 💪
I'm just over the border of MA in NH and would love to talk to him about the Tesla. Caleb should definitely do something to connect viewers to the folks on the show if they're in interesting situations like this!
Hi caleb! 36/yo low income single here! Just paid off a 401k loan for auto repairs this month, and honestly between that and your show i decided im soooo DONE robbing myself! I ut away 4k for emergencies and have started a car fund through capital one savings. Picking up doubles on the weekend where i can, and am doing a pantry challenge for the whole of July. Im really looking forward to seeing where i land at the end of the month, and the year as well!!!! Thank tou for this public service!!
FSD from tesla is officially NOT transferrable. The new buyer, if found out by Tesla, will get that disable. That is why no one wants to pay for it
The epitome of fumbling the bag lol. Buddy should be looking to be debt free before 27 while chilling at home with the parents
S/O yama for the catch
Epitome
@@mknawabi 🙏🏾
@@ChiefKene have a blessed day my friend
exactly, even tho he has a good paying job in tech he can still get laid off at anytime so you don't wanna have that kind of debt on ur head with no job
Let’s go!!! Another amazing video from Caleb! Thanks to you I just hit an 800 credit score 🎉🎉
Nice work!
Awesome dude. Mine was 630 and now its 730. Im still trying
Thank you, Mr. Hammer! Your videos have been a great help in keeping my stuff together.
😂 Caleb trying to sell him on all his sponsors 😅 ok we get the point Caleb 😂
I was broke for decades and learned how to do absolutely everything myself because I couldn't pay anybody. I'm not sure I would have learned any of those skills if I had money.
Currently a wentworth student, we actually have a really an extremely good roi
The problem with teslas is that price dropped a lot in last few months and there are $7.5k credit for new purchases so I think he will have a hard time selling for 35k cuz you can get a new one for that or less atm
Just started an internship as a site reliablity engineer, interesting to see someone with the same career/potential career.