Resources:

1) Coursecareers: Get qualified for a better job and increase your income: and use code HAMMER50 to get $50 off the full course.

2) Fizz: A debit card that builds credit while preventing overspending. use CALEB10 for a $10 signup bonus!

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Do you want to be in a Financial Audit and you’re able to film in the Austin area? Email castingcalebhammer@gmail.com
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Chapters:

00:00 Being laid off in tech…
03:50 Life coming undone?
05:50 Wife fight wife fight!
07:25 Surviving on severance
08:00 WHAT are you POSSIBLY talking about??
10:21 THIS IS BS
12:50 Justifying BS spending on parents
16:00 Taking out a 401k loan…
22:00 WTF is going on?
23:45 YOU BOTH NEED THERAPY
24:50 SPENDING EVERYTHING
29:10 You’re incredibly behind…
31:50 Time to budget like an ADULT
36:00 BE MATURE
41:00 You are both unhealthy in life right now…
44:46 Hammer Financial Score

My filming equipment:
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**Disclaimer: neither this video, nor any content produced by Caleb Hammer should ever be considered investing advice or official financial advice. All content is made for entertainment and educational purposes**
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Sponsorship and business inquiries: calebhammer@creatorsagency.co

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Sponsorship and business inquiries: calebhammer@creatorsagency.co…(read more)

LEARN MORE ABOUT: 401k Plans

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HOW TO INVEST IN SILVER: Silver IRA Investing

401k Loan And Budgeting Is Ripping This Couple Apart | Financial Audit

Managing finances can be a challenging task, and it often becomes even more complicated when couples have different approaches towards money. For one couple, their financial struggles have become so intense that it is tearing them apart. Let’s take a closer look at how a 401k loan and budgeting issues have wreaked havoc on their relationship and why a financial audit might be the saving grace they desperately need.

John and Sarah have been married for ten years and have always had different perspectives on money. John is a risk-taker, often making impulsive purchases and focusing on immediate gratification. Sarah, on the other hand, is more cautious and prefers to save for the future. This fundamental difference in their attitudes toward money has led to numerous conflicts over the years.

Recently, John decided to take out a loan against his 401k to finance a luxurious vacation for the family. While the idea of enjoying a lavish trip was enticing, Sarah was worried about the long-term consequences of this decision. She was concerned about the potential penalties, fees, and the impact on their 401k’s growth. The tension escalated as they started arguing about what is more important: enjoying the present or planning for the future.

In addition to the 401k loan, it became apparent that John and Sarah had not been effectively budgeting their expenses. Their lack of communication and coordination led to overspending and financial instability. They were living paycheck to paycheck, unable to save for emergencies or make progress towards their long-term goals.

Recognizing the strain that their financial situation was causing on their relationship, they decided to seek professional help and opted for a financial audit. A financial audit involves a thorough examination of an individual or couple’s financial situation. It assesses income, expenses, debt, assets, and provides recommendations for improvement.

During the financial audit, John and Sarah’s income and expenses were carefully analyzed. They discovered unnecessary expenses, such as eating out frequently and subscribing to multiple streaming services. With the help of a financial expert, they established a realistic budget that allowed for savings and regular debt repayments.

Moreover, the financial audit also shed light on the negative impact of the 401k loan. They realized that the loan was not only delaying their retirement savings but also incurring significant taxes and penalties. The couple regretted the decision and agreed to focus on rebuilding their 401k savings as a priority.

Although the financial audit was a wake-up call for John and Sarah, it also provided them with a roadmap for better financial decisions. They learned the importance of open communication, compromise, and aligning their financial goals. By working together, they became more aware of their spending habits and now regularly review their budget.

For John and Sarah, the financial audit was not only about improving their financial situation but also about saving their relationship. The process allowed them to understand each other’s perspectives and find a middle ground. It was a turning point that brought them closer together, as they made joint decisions and supported each other in their financial journey.

In conclusion, managing finances can be a challenging task, especially when couples have different attitudes towards money. John and Sarah’s story serves as a cautionary tale, showing how a 401k loan and budgeting issues can place immense strain on a relationship. However, their decision to undergo a financial audit not only improved their financial situation but also restored harmony in their marriage. It is a reminder of the importance of open communication, compromise, and seeking professional help to navigate through financial difficulties.