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[MUSIC PLAYING] Brought to you by the EveryDollar app. Start budgeting for free today. Got a upside down loan in a car that kind of ran into my car loan now and sitting down trying to look at everything that we parent here in Arizona. Of course, everything is going up. That's one of our biggest bills that we got. The car loan is like $6.95 or $6.9 inches right on it. We just trying to figure-- I don't want to do a repo. I just need to try to get that payment down somehow, some way. What do you owe on the car loan? $32,000. Have you looked up what it's worth on private sale on Kelly Blue Book? Yeah, we even took it to, like, Kavana. Kavana's going to pay you a wholesale. Yes, yeah, a car max on me. They told her that it was worth $22. OK. That means it's worth $27. OK. Not because CarMax is trying to rip you off. CarMax is in the business of buying cars at wholesale and selling them at retail. That's how they make a living. And so they never-- why would they pay someone retail for a car? They sell cars for retail. And so if they're willing to buy it from you for $22, you can rest assured it's worth $27,000, which leaves you $5,000 in the hole. How stinky is your credit? I guess it's bad. It's like $5, $15, and that's why I can't refinance. Who's the car loan with? This would tell you to finance. It's a $22, tell you the camera. OK. So somebody told me about subleasing it to somebody. No. Somebody's a fool. No, no, no. OK. And why? Well, because if they don't pay it, you still owe it. And they won't pay it. Yeah, you're taking the risk on somebody else. Who buys a car on sublease? Somebody can't buy a car any other way because they're too screwed up. And screwed up people that are so screwed up, they can't buy a car any other way. Ain't going to pay your sublease. And then you're going to get screwed again. You've been screwed enough on this car. We need to stop it, OK? So wow, what do you make? What's your household income? So I make 50 myself. My wife, she's a hairdresser. But she recently just got a job in a car center. She makes 18 an hour. OK. So how much other data have you guys got? So when I look at everything with my kidney transplant and all that type of stuff, my credit alone. I owe like 17,000 right now. You're a kidney transplant. Is that like medical bills? Medical bills, yes. You had a kidney transplant? Yes, sir. Kidney and pancreas transplant three years ago, four years ago. Wow. How are you doing? I'm doing good. I got as good. They call me a miracle because they say a lot of people don't get called for a kidney. Yeah, I'm thinking after you've been through that, a car payment ain't no step, right? Wow. Man, that's something else, Alan. OK, so here's the answer to your question. Here's what I'm fishing after, all right? That's your question is we need to sell the car. In order to sell the car for $27,000, we need $5,000 to put with it to be able to pay the car off, right? Oh, OK. And that gets rid of the whole stinking problem. And then we go save up and get $1,000 hooptee until we can get some money saved to move up out of the land of hooptee. But right now, I mean, because dad, come, man, with what you're paying a month, you could save some serious money towards the car. 10 months of your car payment to buy a $7,000 car, man. Cheese. Right? Yes, sir. Wow. So that's the world you're living in. So we've got to get rid of this camera. Do I have any money saved, Alan? Anything? So that was another question of mine. But they only said I had to ask one. That's a very discernible because I got children. And I get depressed about it. I'm 42 years and me and my wife, we have no savings. We live in Arizona in a two-bedroom condo. And it's 1,800 a month. And we just-- we don't know what to do. It's just like we don't know how to go about it, if that makes sense. Yeah, it does. I've been around where you are, man. It's not fun. I haven't been with the pancreas kidney thing. But oh, my gosh, I've been with the rest of it. I've been where you are. I know what it feels like to be scary. I was still working full of time doing that too. So it was such a journey. And so by the time I built, I paid and everything like that. It's kind of hollow enough to save anything. So that's-- OK, so here's the deal. Let's just close our eyes for a second, right? If you had $25,000, your whole life would be different. You'd be 100% debt free and out of this car. You'd have paid off all the medical bills and be out of this car, be selling it. If you had $25,000, right? I would, yeah. Right, OK. So $1,000 a month is $25,000 in two years. OK. $1,000 a month extra jobs, $1,500 a month extra jobs, gets you out in 18 months. Because. I want-- I need you to save up $5,000 and sell the stupid camera as soon as possible, and then just continue cracking that way up on that $17,000 from then on. And let's be done with this thing. And get you a cheapo, cheapo car. I don't want you to drive a cheapo car the rest of your life. I want you to get rid of this thing that's killing you. OK. And it's not with the car max or carvana. It's selling it to an individual for $27, not for $22. But you've got to have the money to cover the difference, because you can't get the title to give to the buyer if you don't pay off the bank. [INAUDIBLE] Toyota's got your title. So the moral of the story, Alan, I think, you know, the conclusion is what's going to help get you guys out the fastest is raising your income. And if you can do something, evenings, and map it out, too, because this can feel always really overwhelming. But just to say, OK, on average, if I work an extra three hours a night for five nights a week, what is that going to equal in money? If that's driving Uber, if that's Instacart, whatever it is, find some side hustle stuff and kind of map it out and just say, OK, how much do I have to work for us to get to a goal of $1,000? And then timeline that out, just like what Dave did earlier. And then say, what if I did 1,500 a month, right? Like, start running those numbers and actually write them down. You and your wife sit down. And your $50,000 doesn't even count her salary. So maybe there's a challenge for you guys lifestyle-wise to take her income-- [INTERPOSING VOICES] Yeah, and throw it. Yep, all of that, so-- Yeah, everything at this. Throw everything at it. We're cheering for you, Alan. Yeah, so you're saying, oh, we're going to put you through Financial Peace University. And then I want you to call us back as you're walking through this if you've got other questions. You get some money piled up. You don't know exactly what to do. Holler. We'll help you, man. And we've been scared, too. We know what it's like. Create your free $1 budget today, the simplest way to budget for your life.
