- 5 hours ago
Maxxed Out - Season 1 - Episode 01: Love Is Hard, Money Is Harder
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00:00You actually owe $80,000.
00:03Wait a second!
00:05Money affects every aspect of our lives,
00:07but most importantly, our relationships.
00:09You think it's coming off the top?
00:11You said it.
00:11Oh, wow.
00:12I am Leah Collins, and I'm a financial relationship coach.
00:16But I heard you did it.
00:16Yeah, I'm pretty good.
00:17One person has nominated someone in their life
00:20who is drowning in debt.
00:23I help people take control.
00:25Let's break the bad habits that are holding us back
00:28and keeping us maxed out.
00:31Check me out.
00:33Check me out.
00:35Check me out.
00:37Yeah, yeah, yeah.
00:39Check me out.
00:41Today, I'm going to meet Corey and Nina.
00:45Corey is a local truck driver,
00:47and Nina is a stay-at-home mom to two beautiful girls.
00:50Corey nominated Nina because he feels like
00:53she's out of touch financially
00:55and maybe just a little complacent.
00:58This is very common with couples
01:00where one focuses on the earning
01:01and one focuses on the spending,
01:03and they end up on different pages.
01:05But that's okay.
01:06I am here to help them get on the same page
01:09and create financial harmony.
01:11Let's do it.
01:12Let's get it like, whoa!
01:14Let's get it, let's get it.
01:15Let's get it, let's get it.
01:18Let's get it, let's get it.
01:19Let's get it, let's get it.
01:21Hey, hey, hey, hey!
01:22Corey?
01:23Hi!
01:24Hey, how are you?
01:25I'm doing good.
01:26I'm so happy you're here.
01:27Yes, it's a pleasure.
01:28I love your home.
01:29Thank you, thank you.
01:30We try to keep it clean.
01:31Yeah, so how are you doing?
01:33Oh, I can't complain.
01:33What's going on?
01:34Tell me.
01:34Long story short, I think my wife is draining me.
01:37Mm-hmm.
01:37She's buying a lot of unnecessary things.
01:39She's buying a lot of knick-knack pattywacks.
01:41A lot of things that may seem small at first,
01:44they just keep piling up.
01:45Hundreds of $1 purchases.
01:47Mm-hmm.
01:47Are you involved with the management of the finances?
01:49How does that work?
01:50It's kind of like I pitch her the money,
01:51but then when I hear stories like,
01:53we can't afford this, it makes me wonder,
01:56why not?
01:56You know, I make pretty good living.
01:58Why can't we do these things?
01:59And then I come home and see Amazon boxes.
02:01All right.
02:02I'd love to see what Nina has to say about this.
02:04She probably won't tell you it ain't true,
02:05but I'm telling you.
02:06How does she feel about being nominated?
02:09I don't think she really knows.
02:10We talked about it,
02:11but I don't think she really think I'm committed
02:13to actually going forth with it.
02:14Okay.
02:14So it's going to be a little bit of a surprise, I think,
02:16but this is how serious I am about it.
02:19Hey, Nina, can you come in real quick?
02:20I got somebody I want you to meet.
02:23Hello.
02:24Hi.
02:24How are you?
02:25Hi, I'm Nina.
02:26Nice to meet you, Nina.
02:27I'm a hugger.
02:28Oh, hi.
02:30That is our financial advisor.
02:35You've never done anything this quickly before.
02:37I am very serious.
02:39Okay.
02:40So how much has he told you?
02:42Not much.
02:43He said that he is a little concerned with the spending.
02:46He doesn't really understand where all the money goes.
02:48He's trying to figure out if he makes enough,
02:50if it's a spending issue.
02:52Can we pause?
02:52Can we back up real quick?
02:54Are you making the statement that I am mismanaging money?
02:59No, you're not mismanaging,
03:01because that makes it seem like you're doing it on purpose
03:02or you don't know what you're doing.
03:04I'm just saying you're fully aware of what you're doing.
03:06Just may not know the effects of what you're doing.
03:11I am radiating with heat.
03:14I am just livid.
03:15The audacity that he has the nerve to nominate me
03:18after I manage the household
03:20and make sure he has clothes on his back,
03:22shoes on his feet, food in his baby's mouth,
03:25and he nominates me.
03:26We talked about it.
03:27We had the conversation.
03:29Do you think we need a financial advisor?
03:31I always hear you not take the lead.
03:33I always hear you're not here to do anything.
03:34All of this is on me.
03:36So I was like, the least I can do now
03:38is call a financial advisor
03:39to see if there's mismanaging of the funds.
03:42You know, I'm trying to make sure
03:44there ain't no numbers doing magic.
03:45That's all I'm trying to do.
03:46Make sure there ain't no numbers doing magic.
03:47You think I'm skimming off the top?
03:48Hey, you said it.
03:49Oh, wow.
03:50You said it.
03:53Oh, wow.
03:54Take that back.
03:54Pass that out.
03:56You got my eyebrow twitching.
04:00We have been together overall 16 years.
04:03In college, he had a body, okay?
04:06He had an eight-pack.
04:07He was young and tender, and he got a butt.
04:10So that was my thing.
04:12Originally, I did not like Nina at all
04:14because her ex-boyfriend was a friend of mine.
04:16So I never looked at her in that way
04:17until I looked at her in that way.
04:19Me and her share a degree in business,
04:21so it forced us to spend more time together.
04:23And as time went along...
04:25Enemies turn lovers.
04:27We've been married a grand total of 10 years.
04:29And we have two beautiful little girls.
04:32I'm a freelance commercial truck driver
04:34making anywhere between $60,000 and $70,000 a year.
04:36So our household is a one-income household
04:39provided by me.
04:43Except yours truly,
04:44because I donate to that income.
04:47I am a full-time stay-at-home mom,
04:51but I'm also a freelance voice actress.
04:53We wouldn't survive if I didn't actually chip in.
04:58Do you have an idea of your monthly expenses?
05:01Do you have an idea?
05:02As the person who makes the money,
05:03I expect the expenses to be paid.
05:08Okay, so that's a no.
05:10Do you know?
05:10I know.
05:11It's about $3,300.
05:12About $3,300?
05:13Mm-hmm.
05:14So who would you say is the spender or the saver?
05:17You'll probably say she's the spender, I'm assuming.
05:20I'm also the saver.
05:21Okay.
05:21He knows how to make money,
05:22but he doesn't know how to save money.
05:24Which is interesting that you say
05:25she doesn't manage the money well,
05:27but you're not really involved in the management of it.
05:30So that's something we're going to get into.
05:32I am not particularly financially involved
05:35with the budgeting because I'm not home.
05:36What is you having to be at home?
05:38Have anything to do with you making a financial plan
05:41like you think you're the only guy that goes to work?
05:43Most people work.
05:44To me, it's an excuse that I go to work
05:46because if I went to work,
05:47I would have to still do the expenses,
05:49the kids, all of that.
05:50Like, now it's 365, 24-7.
05:53Right, you don't get a break.
05:54And then you have a partner
05:55who has abdicated responsibility and involvement.
05:59It's on you.
06:01What is something that would happen to her?
06:02Do you know who your cable provider is?
06:05Would you even know how to pay that bill?
06:06Oh, absolutely.
06:07I ain't even like a Niander dog.
06:08I'm not a Niander dog.
06:09That's the one bill that comes to him.
06:11Right, right, right.
06:12Do you know the water?
06:14I do not know the water.
06:15Do you know the energy?
06:16Who are we with?
06:17Who are we with?
06:18Do you know who our mortgage company is?
06:20Round Rock.
06:21No.
06:22Do you know who were the kids set up with
06:24when it comes to recreation?
06:27Do you know?
06:28No, I don't.
06:29I ain't gonna lie to you.
06:30That's why it's important for you to be involved.
06:32I recommend that couples have money meetups
06:34at least once a month
06:35just to make sure that both parties understand
06:37the money coming into the household,
06:39the money going out.
06:40Make it fun.
06:41It could be kind of like a date night.
06:43Do it over coffee,
06:44over a glass of wine.
06:45Planning your financial future
06:46can be romantic.
06:50What?
06:51Only to somebody who can't
06:52It is.
06:53If you're thinking about your goals
06:55and your future
06:55and buying a house
06:56and having kids
06:57and how you're gonna do it,
06:58how is that not fun and romantic?
07:01What?
07:02Maybe it's just me.
07:04No, I love it.
07:08You mentioned the voice artist's passion.
07:12Do you currently get income from that?
07:14Or how does that work?
07:15I do get income from voice acting.
07:18Okay.
07:18About how much?
07:19Between 20 to 35 a year.
07:23It's not on a consistent basis
07:24to where it can be beneficial.
07:26Like, I can appreciate the months
07:27when you may bring in
07:29four, five, six grand that month.
07:32It's the four months after that
07:34where I get five, $200 for that month.
07:37And you have a management degree?
07:39I do.
07:40Business management.
07:40Okay.
07:40So I wanted to go back to work
07:42after I had my first kid,
07:44but it was just a circumstance that happened.
07:45I wanted her to be a stay-at-home.
07:47I'm proud that she's a stay-at-home mom
07:48because I don't trust people with my kids.
07:50And at the time,
07:51I made enough for us to thrive off of
07:53and then be able to do what you call it.
07:55Because I'm taking pride.
07:56Excuse me.
07:57I made enough for us to live off of,
07:59survive off of.
08:00He grew up in the hood,
08:03and, like, that's not my base.
08:04Okay.
08:05I grew up suburbans.
08:06My base is like,
08:07yeah, three-story house.
08:09You have two cars.
08:10So when my expectations become higher,
08:13he thinks of it as like,
08:14man, that's astronomical.
08:15She can have a million dollars,
08:17but if a million dollars
08:18ain't gonna cover what she wants to do,
08:20she's broke.
08:20It's just a difference in compatibility there
08:22is what it sounds like.
08:23Exactly.
08:23What are your three main goals?
08:26Financially,
08:27to be able to be at a point
08:28where I don't have to second-guess
08:32going grocery shopping.
08:33I want to be able to have a vacation once a year,
08:35and I want a bigger house.
08:37I want us to be able to dream bigger
08:39and set bigger goals for ourselves.
08:42In the next one to three years,
08:43I would like a four- to five-bedroom house
08:45that has soundproofing for my voice acting
08:48and a two-car garage.
08:50And his and her sinks.
08:51You guys have the his and her sinks.
08:53Well, I have a little homework for you all.
08:56Joy.
08:57Yes.
08:58This is my Money Moves Makeover Workbook,
09:01and I want you to identify your three main values.
09:05And once we do that
09:07and I receive your financials,
09:09I am going to determine
09:10if your spending aligns with your values.
09:13Okay?
09:14She gave us homework.
09:16She gave us homework.
09:17I'm studious.
09:18I don't mind homework.
09:19I didn't sign up for that.
09:21I'm thinking you finna come in
09:22and be like, hey, do this, do this,
09:23and we out.
09:24Nina, cut out the knickknacks
09:25and we gonna be straight.
09:26She got me doing an investigation.
09:29I don't know if I like that part.
09:30I called you.
09:33Oh, you thought she was gonna be on your team.
09:35Oh, 100%.
09:36100%.
09:36I ain't gonna lie to you.
09:37There are two sides to end this story.
09:39The tables have turned.
09:41You are one medical emergency,
09:43one job loss,
09:44away from financial ruin.
09:47Corey, we are putting you to the test.
09:49A $150 budget.
09:51I like chips.
09:52One of the things I don't yield on is bacon.
09:55We're getting close to that $150.
09:57We haven't even hit the meat yet.
09:58Oh, my.
10:03I've been on a roll.
10:04I've been doing big things.
10:05Not enough for the money.
10:06I've been chasing my dreams.
10:07Hop up on the scene.
10:08Doing my thing.
10:09Up, up, up.
10:10That's where I'm going.
10:11Hello.
10:12Hello.
10:13How are you?
10:14Doing good.
10:15How are you?
10:16My marriage is still together.
10:17Good.
10:18About a hair of a shinny chin chin.
10:20Shinny.
10:21After reviewing Corey and Nina's bank statements
10:24and their financials,
10:25I have a game plan that I would like for them to consider.
10:27I'm just not sure how receptive they'll be.
10:30Thank you for sending over your financials.
10:32I did have time to review them.
10:34And I really want to show you all the reality
10:36of what your income is.
10:39Reality sucks.
10:43It look real good.
10:44We going to El Pablo.
10:47Combine, this is your income,
10:48which is about $65,000.
10:50That ain't about no.
10:52And next, I want you to see your debt.
10:56Oh, no.
10:56That ain't going to look good.
10:57No, that ain't going to look good at all.
10:58I'm talking about total sum.
10:59Your total debt, your liability.
11:11Come on, now.
11:14Your total debt is $250,000.
11:20Compared to your income of about $65,000.
11:23I'm overwhelmed.
11:24What are you saying?
11:25Shut up.
11:26That's a quarter million.
11:27This feels suffocating.
11:29I didn't like that.
11:30I didn't like the visual.
11:31I wanted to turn the table around
11:33and say my debt is my income
11:35and that is my debt
11:36because that's really what it probably needs to be.
11:39It can't be the other way around.
11:41In addition to this,
11:42I also looked at your expenses.
11:45You mentioned during our last session
11:47that your expenses are about $3,300 a month.
11:49It's actually about double that.
11:51Stop.
11:52Mm-hmm.
11:53What are we counting?
11:54Insurance payments.
11:56Church.
11:56I saw church tithing.
11:57Your cars, right?
11:59A lot of alcohol expenses.
12:01That's true.
12:02That's facts.
12:04I'm going to have to quit drinking.
12:05He'll say that today
12:07and he'll be back two months later.
12:08You are 100% correct.
12:09The one thing Corey's not giving up
12:11is his alcohol.
12:12You right about it.
12:13I don't disapprove of it.
12:14That's the vibe I got.
12:15Listen, I don't disapprove of you drink alcohol
12:19because I drink alcohol too.
12:20I just wish we had more funds
12:22to have other luxuries like date night
12:23because it's really important to me.
12:25You actually love me.
12:26I appreciate that.
12:27I really do.
12:29I want you to identify
12:30where you can cut spending,
12:32but for the most part,
12:33you're pretty good at managing your finances.
12:36Great job.
12:37Yeah.
12:38It's really an income issue.
12:40Mm.
12:42Hearing those words,
12:43uh, gun punch.
12:45It's a hard pill to swallow.
12:47The median household income
12:48in Dallas is $145,000.
12:52And you all make less than that.
12:53A lot of less.
12:54And you're supporting a family of four.
12:56Mm-hmm.
12:56Um, so I think we need to start there
12:58to figure out how we can generate
13:00more income
13:01into the household.
13:04Cory and Nina's expenses
13:05are pretty on par
13:07for a family of four.
13:09Their total monthly debt
13:10is about $23.50.
13:12After reviewing
13:13Cory and Nina's values and goals,
13:15it's clear that they want
13:16that bigger home
13:17in the near future.
13:18However,
13:19they have to lower their debts
13:20and increase their income
13:22in order for any of that to happen.
13:24And they're only paying
13:25the bare minimum
13:26on their credit cards.
13:27And at this rate,
13:28they'll never get out of this debt.
13:29I guess I could try
13:30to work 80 hours a week
13:31instead of sex.
13:32It's not even about
13:33increasing your hours.
13:34We're just not making enough.
13:36But the expectancy
13:38of our relationship
13:39was that he would get
13:40into accounting.
13:42When I graduated college,
13:43I graduated with an accounting degree.
13:45I did accounting
13:46for maybe my first
13:47three to six months
13:48after college.
13:49Completely hated it.
13:51If I would have stuck
13:52with accounting,
13:53I'm pretty sure
13:54that I'd be making well
13:55within six figures.
13:56Comfortably.
13:57Mm-hmm.
13:58At this point in time.
14:00And we could have been
14:01more successful
14:02than we are now.
14:05Wish it was just as simple
14:07as, you know,
14:08hey, get out the truck.
14:09Use your degree.
14:10But even when I was trying
14:11to get the first accounting job,
14:13it was always,
14:13you ain't got no experience.
14:14Do you have an issue
14:15with her going back to work?
14:17No, if that's something
14:18she wanted to do,
14:18I definitely support doing it.
14:21It's really...
14:22What was that face for, Nina?
14:24Because she doesn't want to go.
14:26What about remote jobs,
14:27remote opportunities?
14:28Is that something
14:29that you would be interested in?
14:30Um, I got my certification
14:32in medical coding and billing.
14:33Okay.
14:33So the caveat is
14:35when you first get
14:36your certification
14:36that you have an apprentice
14:38on it,
14:39so you need, like,
14:40a lower-level job.
14:42I need $20 an hour
14:44to justify
14:45walking out of my house.
14:46Everything logistically
14:47has to match up
14:48with his schedule,
14:49my schedule,
14:50what the kids need.
14:51People do it every day.
14:53They can do it,
14:54you can do it.
14:55No, I do not want
14:56to go back to work
14:57at all
14:58because what's going
14:59to happen to my kids?
15:00I'm a mom of their first.
15:01You know, like,
15:02I have to know
15:03that they're good,
15:03they're taken care of,
15:04and child care
15:06is astronomical.
15:08So that's the real weight.
15:10I'm a single mom.
15:11I do have a strong community
15:13where I live.
15:14Every job that I've received,
15:15actually,
15:15has always been
15:16through someone I know.
15:17So it's very important
15:17to get out there,
15:19go to networking events,
15:20make those connections.
15:21Because we're not financially
15:23where we need to be,
15:25I almost feel like
15:25I can't even afford
15:26to have friends
15:28because it costs to go out.
15:29I do hear you on the,
15:31like, a lot of excuses.
15:32It sounds like
15:33a lot of reasons, girl.
15:34The logistics.
15:36People do it all the time.
15:37You're more than capable
15:38of doing it.
15:38Y'all are both
15:39very intelligent,
15:40very educated.
15:41You can't figure it out.
15:43Absolutely.
15:43Okay?
15:45Because you have about
15:46$3,000 worth of savings.
15:48If, Corey,
15:49you lose your job,
15:50that's going to get you
15:51through, what,
15:51half of the month?
15:52Mm-hmm.
15:52And that's it.
15:53Yeah, that's reality.
15:55Yeah.
15:56I did notice that
15:58you all bought two cars
15:59within the last two years,
16:00I believe.
16:01Like, I had three different
16:02car accidents
16:03in the same year.
16:04One was the jury my fault.
16:05One was a hit and run,
16:07and another one,
16:08we had a blowout.
16:09And did you have
16:10a trekking accident?
16:11Oh, the big accident.
16:13It was the beginning
16:14of our marriage.
16:15Marriage, yes.
16:15It was about, uh,
16:16about nine years ago or so.
16:17I got hit with an 18-wheeler.
16:19I got pimp
16:20between two trailers.
16:22I was at the wrong spot,
16:23and I broke my arm,
16:26I think, in three places,
16:28and the wrist was shattered.
16:30Yeah.
16:31Part of his bicep
16:32was missing,
16:33complete graft.
16:34He was in ICU
16:35for four days.
16:36Six, seven months,
16:36I was off of work.
16:38A lot of debt
16:39built up quicker
16:39than our income could.
16:41Does it worry you at all
16:42that if you were
16:43to get in an accident again,
16:45God forbid,
16:45something even worse happened?
16:46Yeah, we'd be totally screwed.
16:48We have less than
16:49a month and a half.
16:50I thought at least
16:51two months.
16:52The solution is more income,
16:53and unfortunately,
16:55I don't have
16:55no other way
16:56to think of it, right?
16:57I have nothing else.
16:58Well, that's our homework.
16:59That's what I will
16:59help you all figure out.
17:01We will figure out ways
17:01for you all
17:02to make more income.
17:03I've been there,
17:05so I know
17:06how you're feeling.
17:07Except my situation
17:08was the reverse.
17:09I had the money.
17:09I didn't have
17:10the money management
17:11piece of it,
17:12but what I did
17:13was I started
17:13with small wins.
17:14I started with my
17:16credit card
17:16with the lowest balance.
17:17I think it may have
17:18had $200.
17:19I paid that off,
17:20so I was happy.
17:21I celebrated that win.
17:22That gave me the momentum
17:23to tackle
17:24the next credit card,
17:25and then it was
17:26the student loans
17:27and the car payment.
17:28The snowball method
17:29is a debt reduction strategy
17:31where you pay off your debt
17:32by starting with
17:33the smallest amount
17:34that you owe.
17:35You pay the minimum
17:36for all of the credit cards
17:37except for the one
17:38with the smallest balance.
17:39You throw as much money
17:40at that one as you can.
17:41Once you pay that off,
17:43you roll that entire amount
17:44plus the extra
17:45into the next smallest debt.
17:47And you keep going
17:48until, like a snowball,
17:50you pay all of the debt off.
17:51And within 18 months,
17:53I paid off $40,000 worth of debt
17:55and increased my credit score
17:57to over 800.
17:58If I can do it,
17:59you can do it.
18:00You're just as capable
18:01as I am.
18:03It's two of y'all.
18:04It was just one of me.
18:06So we're going to start
18:07with some small wins,
18:08all right?
18:09Yeah.
18:10The small wins
18:10will definitely feel motivational.
18:12Right.
18:13Exactly.
18:13It'll give you that momentum
18:14and that push
18:15that you need
18:16to keep going.
18:18All right?
18:20I now know a lot more
18:22about what's behind the numbers
18:23and where I'll really need
18:24to push for change.
18:25My plan for Corey and Nina
18:26is to increase their income,
18:28reduce their debt,
18:29and build their savings.
18:30I really want them
18:31to have a safety net
18:32in the case of an emergency.
18:33We are going to tackle
18:35all of this debt together.
18:37Okay.
18:38Looking forward to it.
18:39Okay?
18:41I'm looking forward to it.
18:44Three, two, one.
18:51I just hear that money talk.
18:53Money talking at me,
18:55got me now I'm in a lock.
18:56Got me talking in my sleep
18:58and boy, I sleep a lot.
18:59Get in there.
19:00Get in there.
19:01Suck.
19:03Oh, that's why I made it.
19:04That's why I made it.
19:06That's why I made it.
19:07That's why I made it.
19:08How y'all feel, man?
19:10I'm fine, man.
19:11Just a time to see him
19:12take this ass-whooping dog.
19:14Look, I can't get it up
19:15quite right.
19:16Nah, that's that ED.
19:18Slipping.
19:18That's that ED.
19:19Parker, you still owe me
19:20some money.
19:21You out here gambling.
19:21That's disrespect.
19:23Corey, you had a long day today?
19:25You know, man,
19:25I finally got to meet
19:26with the financial advisor, bro.
19:28What the advisor tell you?
19:29Tell me a lot, bro.
19:30It ain't heavy.
19:32Let me talk to y'all real quick.
19:33Let's step to the back real quick.
19:34Oh, wait a minute.
19:35We ain't even talking
19:35about the birds and the bees, though.
19:37Man, look here, man.
19:38You don't know nothing about that
19:39with all six kids you got.
19:40I truly, before meeting
19:41that financial advisor,
19:42thought I made enough money
19:43to support my household.
19:45My pride is pretty diminished.
19:48But me and my friends
19:49are really close.
19:50They know all my vulnerabilities.
19:51They know all my insecurities.
19:53And I respect their opinion.
19:54Oh, man.
19:56What's going on, man?
19:57The financial advisor,
19:59she borrowed money, right?
20:01Rap, $10,000 bands, stacks.
20:03And she was like,
20:03this is what you make.
20:04Boom, boom, boom.
20:05I was like, feeling myself.
20:07You know what I'm saying?
20:07We doing pretty good.
20:09This is how much you owe.
20:11I was like,
20:13what you mean, like, futuristically?
20:14Like, nah, like, right now.
20:16We thought we was doing
20:18this, that, and the third.
20:20Man, she's like,
20:20nah, it's double that.
20:22Oh, wow.
20:22Double that.
20:23It just really hit hard, man.
20:26Would you be willing to change?
20:28You know what I'm saying?
20:29Like, trucking ain't the only
20:30thing that you can do.
20:31We can get you somewhere.
20:33Nina hit me with,
20:34well, why don't you try
20:36to go back into accounting?
20:37It was hard getting an accounting
20:38job when I was fresh out.
20:39Now I got 10 years
20:40of irrelevant experience
20:42to try to find something else.
20:44And then I'm working
20:4513, 14-hour days.
20:47I don't want to come home
20:48and do night classes.
20:49I want to come home
20:50and be a drink and sit down.
20:52Welcome to adulthood,
20:54young buck.
20:54I need an adult here.
20:55I don't want.
20:56I don't want.
20:56I said, I know it don't
20:57make sense.
20:58I don't, it's like,
20:59Corey, are you being selfish?
21:01A little bit.
21:01All right.
21:02A little bit.
21:02All I hear is I, I, I, I, I.
21:07Because I'm the one talking.
21:08Uh-uh.
21:08I'm the one talking, cut.
21:09But you want her to give her all.
21:11You have to give your all.
21:15Even though they may say
21:16the same thing that Nina said,
21:17Nina may not be as honest with me
21:19because I'm a husband.
21:20But these gentlemen
21:21come from a place
21:22of right and wrong.
21:24Like, we don't go home with you.
21:25We ain't got no reason
21:26to cover it up for you.
21:28Well, we love you
21:29if we couldn't rebuke you.
21:30Exactly.
21:31I'm with y'all when y'all right now.
21:32Listen to the advice.
21:34I've seen you do
21:35all types of hard stuff.
21:36For real?
21:37I know that you can do it.
21:46Hey, y'all.
21:47Nice to see you.
21:48Nice to see you, Corey.
21:50Hey, Corey.
21:51All right.
21:52Today, Corey,
21:53we are putting you to the test.
21:55Yes.
21:55You mentioned that Nina
21:57cannot stick to a budget.
21:58Okay.
21:59You have the list,
22:01a $150 budget,
22:03and let's see
22:04if you can stick to it.
22:06We're going to follow behind
22:07and see how it goes, all right?
22:08Corey thinks that Nina
22:09overspends on unnecessary items
22:12and there's no money left over
22:13for the things that he wants.
22:14And Nina thinks that Corey
22:15is clueless about how much
22:17it really costs
22:17to run a household.
22:19Today, we're going to find out
22:20who's right and who's wrong.
22:21We do need noodles.
22:23Have they always cost as much?
22:24Have noodles gone up?
22:25Everything has gone up.
22:26That is wild.
22:27I guess we're going to get these
22:28instead of the baked beans.
22:30I mean, baked beans
22:30is just more further down.
22:32Further down, yeah.
22:34It is so hard to, like,
22:36give control to somebody
22:37that I know they don't know
22:39what they're doing.
22:40Okay, I'll get it.
22:41Right, am I missing it?
22:42Boom.
22:43Ah, great.
22:44It's just faster for me
22:45to be able to do it.
22:47Bacon!
22:48One of the things
22:48I don't yield on is bacon.
22:50We'll be broke
22:51when we have bacon.
22:53Corey, are you adding this up yet?
22:54No, just going with it.
22:56Just going with it.
22:57Corey's not making
22:58any type of, like,
23:00okay, now we're at 25,
23:01now we're at 100.
23:02Like, he's not doing
23:03the mental math.
23:04This is for $2.
23:06He has no idea
23:08how much I penny pinched.
23:09I mean, it's the price
23:10is right every time.
23:11$10.
23:12Has it always been $10?
23:14This is clearly
23:15new territory for you.
23:16I am shocked
23:16by the items
23:18in the store prices.
23:19I'm willing to substitute
23:20certain things,
23:21but I'm also certain things
23:22that I'm going to get
23:23no matter how high I get.
23:24Guys, to grab the beer.
23:25I thought you were
23:26cutting back on the alcohol.
23:28I am cutting back,
23:29but my friend's birthday
23:30this week.
23:31All right.
23:31I'm just, it's...
23:32He's in charge.
23:33Let him take the lead.
23:39I see a lot of things
23:40that are not on the list.
23:42You know, sometimes
23:42the list ain't perfect.
23:47We're getting close
23:48to that $150.
23:49There's a ways to go here.
23:51Oh, my.
23:52We haven't even
23:53hit the meat yet.
23:53Oh, my.
23:55Almost at $200.
23:57Your tour is going
23:58to be $208.61.
24:00Things are definitely
24:01a little bit more expensive
24:02than what I thought to us.
24:03Just factored that in.
24:05How great of a job
24:05Nina is actually doing
24:07at managing the budget.
24:09Feeding a family of four
24:10on $150 is actually phenomenal.
24:13It is.
24:13I see that more now.
24:15At least Corey and Nina
24:16pay cash for their groceries.
24:18They're doing that right.
24:19The reason that I advise clients
24:20to pay cash for their groceries
24:21is because if they put it
24:22on their credit cards
24:23and do not pay it off immediately,
24:25which most don't,
24:26they end up paying
24:27two to three times more
24:28for those groceries
24:28because of the interest.
24:30That means any items
24:31that they got on sale
24:32weren't much of a discount
24:33after all.
24:34All right, Corey,
24:34you have $150.
24:36So now we are going
24:37to play a game
24:38called splurge or save.
24:40You have to figure out
24:41what items you're going
24:43to keep
24:44and what will go back.
24:47Are you ready?
24:48Everything is necessary.
24:49All right, let's start here.
24:50What about the Applejacks?
24:52Do kids love Applejacks
24:53this much?
24:54You love Applejacks.
24:56Splurge?
24:57I can give them
24:58my Applejacks.
24:59I can give them
25:00my Applejacks.
25:00Let me take this.
25:01That wasn't even that hard.
25:02Where's the alcohol?
25:04Okay.
25:05Splurge or save?
25:10I'm conflicted, man.
25:11I'm conflicted.
25:11Are you?
25:13Can you take this off?
25:14Yeah, sure.
25:15That's cool.
25:16$170.
25:17All right.
25:18That's how I take off my soda.
25:20The soda.
25:21All right.
25:22I really want my alcohol.
25:25I'll put back
25:26the energy drink.
25:27You'll put back
25:28the energy drinks
25:29to get your alcohol.
25:31Boom.
25:33Good job.
25:34It's shocking
25:35because it's the little things
25:37and so many little things
25:39add up.
25:39Who knew me enjoying
25:41this particular item
25:42will blow my budget?
25:44Mm.
25:45I respect the job
25:46my wife has always done
25:47with the money,
25:47but now knowing
25:49and realizing
25:49that I'm not providing
25:51as much as I thought
25:52I was for her
25:52to make her job easier
25:53is the eye-opener.
25:56Don't pick up nothing else.
25:59Corey's been in three accidents.
26:01What if it had turned out differently?
26:03What would you do?
26:04All I can do
26:05is pray.
26:06There he comes on.
26:22Do you have an idea
26:23of why we're here?
26:25No.
26:25I am here
26:26to paint a financial picture
26:28for you, okay?
26:30Knowing what I know now
26:31about Corey and Nina's finances
26:33and the number of accidents
26:35that Corey's had,
26:36I'm really concerned
26:37about their ability
26:38to manage
26:38an unexpected catastrophe.
26:40Mother to mother,
26:41I just really want
26:42to have a conversation
26:43with Nina
26:43without Corey
26:45to figure out
26:45what she would do
26:46if the worst were to happen.
26:48I brought you specifically
26:49to a scrapyard
26:50because Corey's been
26:51in three accidents.
26:52You are one medical emergency,
26:54one job loss,
26:56away from financial ruin.
26:58And I'm not wishing
26:59that energy on you.
27:00Absolutely not.
27:01But what if it had
27:01turned out differently?
27:02What would you do?
27:04Emotionally,
27:05I can't go there
27:07because I'll never
27:07get out of bed.
27:09I've been with the same man
27:10for 16 years,
27:1219 years old,
27:14both growing up together,
27:15raised him,
27:16I feel like myself.
27:17And he's so much
27:20a part of me.
27:21And to know
27:22I could not see him tomorrow
27:25is earth-shattering.
27:29All I can do
27:31is pray.
27:32There he comes on me.
27:35It's about protection, right?
27:37Absolutely.
27:37It's about having
27:38a real solid
27:40contingency plan
27:41in case
27:42something bad
27:43does happen.
27:43Because when life gets hard,
27:45you all cannot afford
27:46to be crushed.
27:52All right.
27:53Let's bring Corey in, okay?
27:54Okay.
27:55I know we're
27:56in a tough bind
27:57and this could definitely
27:58be us of being crushed
28:00with one lost job
28:02or if something happened
28:03to him on the road.
28:05Can you share with Corey
28:06some of what you shared
28:07with me?
28:08With the three accidents
28:09in two years,
28:10if you were gone,
28:12like, we would shatter.
28:13But at the end of the day,
28:14I'm still here.
28:16You know,
28:16so that's what I want you
28:17to more so focus on.
28:19Not the shoulda,
28:20woulda, couldas,
28:21because they didn't.
28:22So what's the plan, right?
28:24So we always hope
28:25for the best.
28:25Plan for the worst.
28:27But plan for the worst.
28:28And so that was
28:28the whole point
28:29of this exercise
28:30is to help you
28:30come up with
28:31a solid contingency plan.
28:36Are you okay?
28:37It's a deep breath
28:38on it,
28:39because you don't
28:39want to go there.
28:40You don't want to
28:41think about the worst.
28:41I mean,
28:42I have a four-year-old daughter.
28:43One of the first things
28:44that I did when she was born
28:45was get life insurance
28:47and an estate plan.
28:48I always encourage
28:49self-employed clients
28:51like Corey
28:51to have a variety
28:52of insurance
28:54and not just
28:55the basic medical insurance.
28:56I recommend
28:57disability insurance,
28:58and that basically
28:59covers you
29:00in the event
29:01of sickness.
29:02The insurance
29:03will pay
29:04a portion
29:04of your income.
29:05I also recommend
29:06hospital indemnity insurance,
29:07and basically
29:08that insurance
29:09covers you
29:09if you're hospitalized.
29:10So you get a lump sum
29:12per day
29:13that you're in the hospital.
29:14I had this,
29:15fortunately,
29:16when I delivered
29:17my daughter early.
29:17She was in the NICU
29:19for two weeks,
29:19and I walked away
29:20with about $8,000,
29:21which paid my lost income.
29:23It's important
29:24to safeguard
29:24your most valuable asset,
29:26which is your ability
29:27to earn an income.
29:28My contingency plan
29:29will be
29:30the life insurance policy,
29:31downsize the house,
29:33and that should
29:34buy us time enough
29:35to be able to create
29:36a different source
29:37of income.
29:38What can you rely on?
29:39Can you rely on
29:39your part-time income
29:40if something were
29:41to happen to him?
29:43I would have to go
29:43full-time.
29:44So I'm thinking
29:45something that has to do
29:46with your major, right?
29:46You're a business
29:47management major?
29:48To go into management,
29:49that's extra stress
29:50with two kids.
29:51But as a parent,
29:51you have to do
29:52what you have to do.
29:53For me to get a job
29:55in business management
29:56after I've been out
29:57for seven years,
29:58it's the same thing
29:58of him having to draw
30:00at square one
30:01for accountancy
30:02because he doesn't
30:03have the credentials
30:04anymore.
30:05Didn't you just
30:06get a certification
30:06that I paid for?
30:07But I just got that,
30:08but beforehand.
30:09So that for one,
30:09ain't that a little bit
30:10more current than you
30:11say May of this year?
30:12Do you know
30:13how many free courses
30:13it is to be
30:14a personal bookkeeper?
30:15You can make
30:16the same amount
30:17that you're making now
30:18and you can be freelance,
30:19but you wouldn't know
30:20the research
30:20to be able to make that happen.
30:22I wonder why I wouldn't know that.
30:22Why wouldn't I know that?
30:23You have Saturdays
30:25and Sundays, honey.
30:25I don't know why you wouldn't.
30:26No, that's fair.
30:28This is something
30:28that really drives
30:29the point home for me.
30:31In the past year,
30:3323% of Americans
30:35have had a financial catastrophe.
30:37I just don't want you
30:38to be a part
30:38of that 23%, okay?
30:42I still don't think
30:43that they're really getting it.
30:44As a parent,
30:45you have to do
30:46what you have to do
30:46to take care of your kids.
30:47And I cannot imagine
30:48being this nonchalant
30:50and reckless
30:51about their financial future.
30:59You complain about
31:01the life you have,
31:02but aren't contributing
31:04financially.
31:05Are you willing
31:06to do anything?
31:06Well, we're not going
31:07to do that.
31:07What we're not going to do
31:09is make it seem
31:10like I don't contribute.
31:18Can you feel the rhythm
31:19like one, two, three?
31:21One, two, three!
31:23Hey, hey, hey, hey.
31:24Ro, ro, ro, ro, ro.
31:25What's going on?
31:25What's going on?
31:26What is good
31:27with the peeps?
31:28Hi, Andre.
31:29Hey, what's going on?
31:31After speaking with Leah,
31:32she gave us a lot
31:33to think about.
31:34Unfortunately,
31:34we're at an impasse.
31:36Me and Nina decided
31:37to bring in reinforcements.
31:38You know, put our heads
31:39together.
31:39Some people would really
31:40trust to talk it out.
31:41This is my older sister,
31:43so I'm the baby.
31:44She just came back
31:45from Japan.
31:45It's China, fool.
31:46It was China.
31:48We decided to come back
31:50to Texas because Nina
31:51was like, hey,
31:52we can be each other's village.
31:53You know, my son is five,
31:55her two girls are six and seven.
31:57So, like, perfect.
31:58I'm just glad
31:59that you're finally here.
32:01Just stop.
32:02All that emotion.
32:04How was meeting
32:05the financial advisor?
32:06Emotionally exhausting,
32:07honestly.
32:08Mm.
32:09I don't make enough money
32:10compared to the expenses.
32:13The reality is
32:14that we're on our last leg
32:15and that we may not have
32:16the catch-up
32:19that usually people have.
32:20Like, we need a new roof.
32:21You know, if he lost his job,
32:22if he died tomorrow,
32:23you know, like,
32:24we don't have that fallback
32:26as much as we should have.
32:28And then she says something
32:29that I think Nina needs
32:30to speak on a little bit more
32:31about.
32:32How do you have
32:34one income household
32:35with two capable adults,
32:37but it all falls
32:38on his shoulders,
32:39but then you complain
32:40about the life you have
32:42financially,
32:43but aren't contributing
32:45financially?
32:45Are you willing
32:46to do other...
32:48Are you willing to do...
32:49What we're not gonna do
32:49is that.
32:50Mommy did.
32:50What we're not gonna do
32:51is that.
32:52It's cool when they do it.
32:53Can I go to my room?
32:54What we're not gonna do
32:55is make it seem
32:56like I don't contribute.
32:57I'm not saying you don't contribute.
32:58No, you're gonna sit here
32:59and you're gonna take it
32:59and you're gonna watch it
33:00and win it.
33:01I'm gonna put my home on me.
33:02Woo!
33:03This is the easy math.
33:05If I make $40 an hour,
33:08right,
33:09and Nina gets a job
33:10that makes $20,
33:11that allows me
33:12to cut back
33:14on the amount of work
33:15I do
33:16because my 40-an-hour job
33:18requires me to spend
33:18so much time away from it.
33:19It takes away my availability.
33:21So if she ends up
33:22taking off some of the
33:23financial burden off me,
33:24I can take some of that
33:25home stuff off her.
33:27I understand that.
33:28Hold on.
33:28So you feel that
33:29her working
33:31will have you work less.
33:33Correct.
33:34So you work in less hours,
33:36then that's less money.
33:37So it's like,
33:37okay, well,
33:38we're going backwards.
33:39Then what our goal is?
33:40Her money to be added to that.
33:42I get you.
33:43Unless you're willing to pivot.
33:44Wrong one built in a day.
33:45Come on.
33:45You know what I'm saying?
33:46Come on.
33:46How long can my past
33:48hold me back when we can't
33:49even see the future?
33:49Don't amen him.
33:50Don't amen him.
33:51I said I was wrong.
33:53I got some realization.
33:54We coming up with some plans
33:55that ain't took to effect yet.
33:56In his name,
33:57in his name,
33:58in his name.
33:59Corey's favorite thing is
34:00I need time.
34:02What's wrong with right now?
34:03He's been talking for years
34:05about getting out of trucking.
34:06What are your goals?
34:08To be financially stable.
34:09Okay, so what does that look like?
34:11How do I measure that
34:11and what time is on that?
34:13You know, like,
34:13I spoke to Nina and she says,
34:15hey, I'm five years,
34:15like, I want a bigger home.
34:16Like, she wants more space, right?
34:18The kids want a bigger backyard
34:20and things like that.
34:21So it's like, okay,
34:21if that is her goal,
34:22that needs to be y'all's goal.
34:24And how do you reach that
34:25in five years?
34:27Okay.
34:27Once you have that goal,
34:29you're going to sacrifice.
34:30You're like, hey,
34:31we're going to grind
34:31for these two years.
34:32For the next six months,
34:33two years, whatever.
34:34The sacrifice I'm making
34:35won't change.
34:36That's a conversation for Nina
34:37because she's the one
34:38getting the job.
34:39Yeah.
34:40I'm continuing with my 16
34:41hour days that I've been doing.
34:43So, think about it
34:44just a little bit.
34:45We can make smart goals,
34:47but if y'all are going to keep
34:48bucking his about availability
34:50in hours,
34:50that don't work in a way.
34:52You know the 16 hours
34:53ain't viable.
34:55Sounds like the job
34:55don't work.
34:56I do understand
34:57the willingness
34:58that I need to be able
34:59to, like, find aftercare
35:01and the very pitfalls
35:03that keep me from
35:04going back to work fully.
35:06I'm doing the best
35:06that I can with what I have.
35:08I know I need to
35:09dig into that
35:10and kind of, like,
35:11let go
35:11and let God on that one.
35:13I am happy
35:13to help you
35:14in any way that I can.
35:15If I need to take
35:16the children
35:17half of the week
35:19so that you can,
35:20you know, work,
35:21I'm here for you.
35:22I'm going to help you
35:23get to where you can
35:25in any aspect
35:26that I can.
35:27I knew you was my people.
35:28I knew it.
35:29I knew what I saw.
35:30That takes, honestly,
35:31a lot off the plate of it
35:32because it's, like,
35:33$300 a week
35:34to be able to do
35:35five days of working.
35:37So even half the week
35:39would be tremendous.
35:40Yes, I got you, girl.
35:42My sister offering
35:43to help with child care
35:44is the biggest relief
35:45because I know
35:46she's going to take care
35:47of my kids
35:47just like I would.
35:49And to be frank,
35:50that's the real biggest
35:51hurdle of actually
35:52going outside
35:53to get a job.
35:54Now it's up to us
35:55to find the career
35:55opportunities for us
35:56to reach our goals.
35:57No pressure.
36:01Thank you for coming
36:02in today.
36:03It's been a few weeks
36:04since I've spoken
36:05to Korya and Nina,
36:06and it did not seem
36:07like they were
36:07taking their finances
36:08seriously enough.
36:10How are things going?
36:31Hey, girl, hey.
36:33Hey, Lou.
36:33How are you?
36:35Good.
36:35Thank you for coming
36:36in today.
36:37Oh, it's my pleasure
36:38as always.
36:39It's been a few weeks
36:40since I've spoken
36:41to Korya and Nina,
36:42and it did not seem
36:43like they were taking
36:44their finances
36:44seriously enough.
36:46So I really hope
36:47that they thought about
36:47what I've told them
36:48and employed some
36:49of the strategies
36:50that we discussed.
36:51So tell me,
36:52how are things going?
36:53Are there any updates?
36:55I think we did
36:56make some progress,
36:57and we kind of
36:58put our emotions
36:59aside a bit
37:00and looked at logistics.
37:01It was very difficult
37:02at first,
37:03but after me personally
37:06committing it
37:07to it being a we,
37:08it's not just a her,
37:09it's not just a me,
37:10but it's us together.
37:11You know,
37:12you feel almost
37:12reconnected us.
37:13I'm glad to hear that.
37:15So have there been
37:15any small wins,
37:17any big wins?
37:18My sister has offered
37:20us child care
37:21half the week.
37:22I love that for you.
37:23It's great to have
37:23a community.
37:24Yeah.
37:25Right?
37:25It's great to have a village.
37:26I'm very picky
37:27about who watches
37:29my kids.
37:30So sister helping out,
37:31coming in the clutch,
37:32opens up me to
37:35make the hard decision
37:36to say I can't go
37:38straight into the career
37:39I thought I was
37:40going to go into.
37:41What type of work
37:42are you looking at?
37:44Right now,
37:45I'm looking into health care,
37:46but entry-level positions.
37:49That's awesome.
37:50What about you, Corey?
37:51I did recently,
37:53with the guidance
37:53of my wife,
37:54brought myself open
37:55to apply for jobs
37:56that actually would
37:57somewhat require my degree
37:58and show my transferable skills,
38:00and I was able
38:01to actually get hired on.
38:03I am so proud of you.
38:04That is awesome news.
38:06What will you be doing?
38:08I'll pretty much
38:09be a driver-manager.
38:10Okay.
38:10So my job is to make sure
38:11they're maximizing their miles,
38:13staying on top
38:14of their regulations.
38:15Long story short,
38:16I'm making sure
38:16they make good money
38:17so they can make me good money.
38:18Okay.
38:19And is it about
38:20the same salary?
38:21It's about the same salary,
38:22but less hours.
38:24Okay.
38:24So really,
38:25if it's the same paying list,
38:26hours,
38:26if you break it down hourly,
38:27it really is a pay increase.
38:28It is a pay increase.
38:29Yes.
38:29Absolutely.
38:30Absolutely.
38:30I can be home more,
38:31and I now look around
38:32and see what I can do
38:33that she possibly
38:34couldn't get to
38:34instead of waiting
38:35for her to get to it.
38:36And then by us having
38:37that set schedule,
38:38she has those opportunities
38:39to go have those girls
38:41that she may want
38:42or able to tell
38:43a potential employer,
38:44yes,
38:44I have a set schedule
38:45that I can be at
38:46because I don't have to
38:47worry about my kids.
38:48Absolutely.
38:48It's a relieving feeling,
38:50and it makes me feel
38:51more involved.
38:52I love that.
38:53I hate that it took
38:54four people to tell him
38:55what I've been saying,
38:56but I'm overjoyed
38:58because A,
38:58I was right,
38:59and B,
38:59it's beneficial to our family.
39:02He can actually put the kids down.
39:03He can actually have dinner with us,
39:04and I get to see him
39:06in some khakis
39:07and a good shirt,
39:08you know,
39:09so I'm excited.
39:10I'm trying to contain it
39:11because I don't want
39:12to do the Tom Cruise
39:12and hop on your chairs.
39:15There's a growth potential
39:16to like almost 200K.
39:19So if that hits
39:20the way it's supposed to hit,
39:22you know,
39:22I can be able to turn
39:23that table
39:23that you've scarred
39:24in my head
39:25all around.
39:27200K plus
39:28maybe a new job for you?
39:29That's awesome.
39:30That is amazing.
39:31I feel like
39:32it was hard
39:32going through this process,
39:34but I think it brought us
39:35together to be able to say
39:36we need to be more
39:37of a team
39:38in the finances
39:39and not just Nina
39:41taking it all on.
39:42So I'm happy.
39:44I can actually have
39:44a conversation
39:45on the same wavelength now.
39:46If you can communicate
39:47about money,
39:48you can communicate
39:49about almost anything,
39:50right?
39:51Yes.
39:52So I didn't call you,
39:54but I'm glad
39:54that he did.
39:58I'm not going to cry.
39:58You're going to cry.
40:00Y'all had me a little worried
40:01for a while,
40:02but y'all came through.
40:03And y'all did even better
40:05than I could have imagined.
40:06Congratulations.
40:07I'm so happy for y'all.
40:09I'm so proud of you.
40:10I'm pleasantly surprised
40:11by Corey and Nina's wins.
40:13Corey's already found
40:14a new job,
40:15and Nina is eliminating
40:16her largest employment barrier
40:18and expanding her job search.
40:20They're making huge steps
40:21to increase their income.
40:22They are managing
40:23their monthly expenses together.
40:25And most importantly,
40:27they're communicating
40:28about money.
40:28So sexy.
40:29Bring it in.
40:30Give me a hug.
40:31Thank you so much.
40:31I'm proud of you.
40:32Money conversations are hard,
40:34but they're healthy.
40:35Sometimes you just need
40:36an objective third party
40:37to weigh in
40:37when you disagree.
40:38Talk to people
40:39who have been there
40:40and successfully
40:42navigated their way through.
40:43Okay, now come feed me.
40:44As long as it's within budget.
40:47You don't have to be stuck
40:48in a financial situation
40:49when there are options out there.
40:50Your money story
40:51is yours to rewrite.
41:01Next time on Maxed Out,
41:04you actually owe $80,000.
41:07Wait a second!
41:08Miss Diana has nominated
41:10her daughter.
41:11What do you do
41:12when you're not able
41:13to cover your expenses?
41:14I ask my parents.
41:15I'll raid my closet.
41:17Miss Diana is definitely
41:18an enabler.
41:19You're helping everyone else.
41:20You don't have retirement.
41:21You're 62.
41:22This can't keep happening.
41:24I'm not living
41:24under the bridge for nobody.
41:26If you want to move back home,
41:27I need you to be
41:28transparent with your dad.
41:29Mm-hmm.
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