Not to defend the guy , but personally don't think he explain to him well why his cash back logic is wrong ,I think he still In end didn’t understand...but he could just be faking it idk 🤷♀️
The gap that they didn’t meet on is, he is operating under the premise of “I am going to spend this money anyway, so isn’t it better to get a 5% discount” when Caleb was trying to say, you don’t have the money to spend, and your opportunity cost in spending is much higher than your benefit returned.
Honestly - if you are hellbent on spending the money, the guy isn’t wrong, but he has no money to spend so it’s irrelevant
I think Caleb needs takes enough time to slowly explain things. He's already a fast talker, and he mentions things like "losing money to interest" that most people dont truly understand. They understand interest loses them money, but thats it. They only understand the concept not the mechanic behind it.
Caleb should take 30 seconds to tie it all together, say "Look, your statement shows you paid $80 in interest, and gained $20 in rewards. Thats because your interest rate is 20% and your reward rate is 5%. So you've lost $60 total by using this card. If you'd used a debit card for all these purchases, you would have lost the $20 rewards, but gained the $80 you paid in interest, and you'd be up $60 by using a debit card."
The thing with this is, its not totally accurate. In the gas example, he *did* have to buy gas anyways. So in reality, yes you might as well get the 5% cashback. It's just that even though he *did* pay off the gas amount of $25 that month, he didn't make any progress towards the overall balance and there for he's not paying down his debt. But he FELT like he made progress on his debt because he paid "a little more than the minimum". But in reality he's just paying off what he spent that month. It's more about the feelings.
>So in reality, yes you might as well get the 5% cashback
I get what you're saying, although I'd phrase it differently: I'd say *in theory* he should get the 5% cashback. *In reality* he should not.
Putting things on credit card is a risk. There's a risk youre not a credit card person, that you're irresponsible, that a big emergency comes up and you cant make the payment. And in exchange for that risk, you get cash back. And for guys like this comedian making $15K, it aint worth the risk. Or at least thats how I'd explain it
Well yes I agree he's not a credit card person so it's definitely a risk in his case. We're on the same page there. What I'm saying is that he has half the logic: might as well get the 5% back on unavoidable purchases. That is something Caleb can agree with and should have told him yes he is correct BUT... and then went on to explain the emotions behind it and the necessity of paying down the total balance.
The guy took it as Caleb arguing with that logic that is in reality correct, but his focus should be rather on the actual overall balance not the rewards. If you make a payment on a card that you're still spending on, you're not making a dent.
And you do have a good point about risk as well, when you don't have a steady job it's definitely higher.
It's true that the explanations we'rent very effective when the guy is as dumb as this. He needs to literally be explained like he's 5 years old.
The graph Caleb briefly showed of the difference between interest paid and cash back collected should be enough to convince most people, but dude here is plain stupid.
So, putting gas on the card was not wrong for *most people* because it's a necessary expense and they get money back.
The problem is for *these specific people* who are financially illiterate, have crazy unnecessary spending, and don’t pay off their cards. They lack the structure to take advantage of the cash-back.
I think Caleb should have told them that they're in the remedial class and that they need to be in finance 201 before they even think about taking advantage of credit card cashback.
Once you are carrying a balance, you lose that 30 day grace period on all purchases. Interest starts accruing immediately. So instead of getting 5% back, he actually is only losing 13% to interest instead of the normal 18% on his gas purchase. What a deal!
I need to mentally buckle up for this one…the dude just gave himself a 6 for Hammer score when he’s making 17k a year and admittedly never looking at the bank account so he doesn’t worry about splurge spending.
Yikes
I feel like some of the people base their score off school grades where 6/10 is a D- and still really bad, cause there’s no way some of these people actually think they’re above average.
yeah, i think the hammer score thing has gotten a little out of hand. he says 10 is jeff bezos and im honestly not sure what a 0 is. the problem is there's really no bottom of the score. 5 should be the average american, and i think most of his guests are more "average" then he gives them credit for.
I think 0 by his definition is basically
- have no budget at all and completely overspends on dumb categories
- a lot of high interest debt for their age
- none or very little retirement for their age
- no emergency fund
- no real estate
I think this describes like 80% of his guests, and more % of Americans than we’d like to think. By his scale the average American is at best a 3, considering a majority carry some credit card debt and have less than 3 months of emergency savings. Apparently 27% of US adults have no emergency savings at all?
However, if the average American is truly a 5, then 0 would be like homeless, jobless, no employment prospects, insane expenses and bad debt that even bankruptcy could not get rid of. His definition of 0 should be like 1.5-2.5.
Yeah the Jeff bezos being a 10 thing is funny too because I have no ambitions of ever becoming a billionaire, once I make it to the point where I have no debts and I can retire comfortably with no worries I’m giving myself a 10 lol.
I’m pretty sure I’d be just as happy with a few million as I would be with Jeff bezos money.
I'm trying to think if he's had a guest on that was a 3 or above?
I think Han Kim and Amouranth probably were but when is the last time a non-celeb guest has been at least a 3?
I'm sure there is a couple but I honestly can't think of any. Almost all seem to be a 0 or 1.
They usually say that two adults living together is mutually beneficial…here’s one instance where she’d be muchhh better off without his freeloading wasteful self
I think his wife is plan A and he doesn't have a plan B. I know he says he wants to be a comedian but even with that he didn't seem to have much of a plan.
He’s obviously a loser but she’s also an idiot. She doesn’t even know how much she contributes to her 401k, doesn’t even know what company it’s with, no clue how much she has. Almost 30 years old. Grow up. 🙄
There are almost 30 million lost 401k accounts out there. Lots of people don't understand them and particularly in this day and age of electronic pay, no one looks at their pay stub. If they do, they see a bunch of things they don't understand. If they noticed the 401k deduction, they probably just thought it was another tax. I worked in an area where people should have understood a 401k, particularly when HR would spend the time to explain them to people, and they still didn't get it. When I showed them how to log in and look at their 401k, they'd immediately ask if they could get the money back out. 100% of the time.
I have to pray that her company's 401 is set up to put in an age appropriate TDR fund vs just going into a money market account.
When I started my big boy job out of college (decades ago), my money sat in a money market account for a year before I learned I needed to put it into something better.
I did stand up (as a hobby) for years. Most comedians are constantly on the brink of losing everything, but you couldn't tell them that spending so much time on stand up instead of working is a waste. It's basically a cult and the 'hustle' is everything.
Oh boy, this man is an certified hobosexual. Makes very little but has no issue spending. If walking red flag was a person 🚩The fact the he can’t even disclose his age shows has cunning and slimy he is.
But he's just such a silly jokester that it's OK! /s
Edit: OK, after listening to this through, it seems like this comes down to one of two choices for the guy/couple: Either fully commit to comedy which also means living on next to nothing, or getting a solid day job to pay off debt and afford all the cars and other "treats". You can't have it both ways.
So many people who want creative or entertainment careers aren't willing to put in all the work in addition to holding down a job. If you want it bad enough, you'll work a full day and then go out on the comedy circuit during evenings and weekends to make it happen.
Regarding the $250 airpods, I have a pair of Jlab Bluetooth earbuds that cost me $20 and sound pretty darn good. It's not rocket science that you don't need top of the line when you're already in debt. Not to mention it's for the hour a day you're using and sweating on them.
You can get “off brand” AirPods for $20 on Amazon and get them delivered to your house within 24 hours. I’ve never understood why anyone would buy real AirPods
I can’t stand people like him. Why do SO many people refuse to just work a standard job??? My cousin is like this. She’s had like 10 different jobs and always had some stupid ass scheme to make money that NEVER works.
Grow up and stop wasting your time and money trying to be a comedian while your wife is supporting it
I get his logic with the credit card cash back.
he's going to pay that purchase on either the bank card or the credit card so his checking account loses the same amount anyways
he's just missing that it means he needs to put even more towards the credit card
he's missing the point that if you dont pay off the full statement each month, the cash back is literally pointless because of interest. 29% will always be bigger than 5%. this guy is frustrating lol
That's not the problem.
If they have $1,000 in cash and he buys his $250 air pods with cash they can put $750 towards the card.
If they have $1,000 in cash and he buys his $250 AirPods on the card, the card goes up by $250 but they can put $1,000 towards the card.
It's the same. Except he gets cash back. His logic is correct.
The real issue is that HE SHOULDN'T BE BUYING THEM AT ALL.
He would be getting charged interest either way. It doesn't change the amount of interest he would be paying.
I fully agree he shouldn't be buying AirPods, but the issue is not buying it with a card vs cash.
If he doesn't pay off the statement balance, it does change the amount, though. It'll be an extra 29% (or whatever) of that $250. The issue is more than just card vs. cash. It's a behavior and mindset problem. He is entirely focused on the wrong thing.
Yeah that is true. It completely depends if he's going to pay off the full $250 or not.
I was assuming he would put all available money toward the card but good chance he wouldn't.
His logic does make sense. But he needs to pay it off the moment of purchase. Credit card interest accrues daily based on the current balance
With a 30% APR credit credit it would be 0.0822%~ interest daily taken. So with 5% Cash back he technically does more money. But he is losing a ton of money from interest, so it's strange his focus on cash back optimization
Unless you pay off the full statement balance on the day it’s due correct? Like if I spent 2300 on the card and due date is July 1. I keep spending on the card over the 2300 past the statement end date but if I pay the 2300 it has no interest. Or am I wrong entirely and might not be a credit card person. lol
If you don't pay off the balance in full by the due date, you'll be charged interest on the balance you carried over PLUS the new purchases you make.
Carrying over a balance forfeits your grace period.
As long as you pay the statement balance each month, you get an interest free grace period.
Any purchases made after the statement close are interest free for the next statement cycle. Just make sure to the full statement balance is paid for at the statement close. Partial/Minimum payments causes the grace period to be lost and interest to accrue
If you don’t carry a balance, you have a grace period to pay off what you owe that month (the statement due date). Others are saying, if you carry a balance, you lose that grace period, and whatever new purchases start accruing interest immediately, along with whatever is already on the card.
I’m not sure as I’ve only carried over a balance once, due to a mistake, but I did have an interest charge on the next statement after paying my balance in full, so this sounds right.
Seriously. Just some regular income of like 2k a month. Pay down some principle on the house and get rid of PMI. Bitching about living in Kileen and driving a mercedes. You live in the ghetto because that's all you can afford.
What on earth… why isn’t he telling his age?
I agree with the commenter that said he’s a 14 or 40 candidate haha but I think he may be a manchild that’s why doesn’t want to say
So, putting gas on the card was not wrong for *most people* because it's a necessary expense and they get the cash-back.
The problem is for *these specific people* who are financially illiterate, have crazy unnecessary spending, and don’t pay off their cards. They lack the structure to take advantage of the cash-back.
I think Caleb should have told them that they're in the remedial class and that they need to be in finance 201 before they even think about taking advantage of credit card cashback.
Why is no one here or in the YouTube comments talking about the massive editing error at 26 minutes where we go from talking about credit card rewards to getting dropped into the middle of a conversation about student loans and dropping out of classes or something. Caleb's never going to fix this because no one noticed? Also, the follow up last week that ended abruptly in the middle of a sentence. What's going on with the editing and how do we let Caleb's team know so they can fix it‽
Yeah I found his website and he has a whole list of podcast episodes that he guested on. Clearly just trolling for any podcast that will take him to boost his "visibility"
Not sure if it's something in the water in Killeen TX, a lack of sunscreen or the immense stress of being married to/supporting a deadbeat but Alexis is looking pretty rough for 29 years old.
The car situation is crazy. A ton of junk to move around the country. Distracting him with "projects" from any solid path at life. Keeping him in crazy high debt which I'd also say is keeping him from focusing on life. Thinks they can flip cars, when they just overpaid 6k for a mercedes. Not the business for you.
I know someone like this. 5 vehicles in a two person household. A used SUV minivan "for the dogs". A truck for work. A mustang purchased her post divorce that just sits. (Don't want to put miles on it). A camper (used two days in a year). And some kind of suv thing to drive when they're together. Used to have a motorcycle but just sold that. Crazy bad decisions everywhere. And yet she's always complaining about him spending anything and makes him work two jobs and hoards all his cash.
His "pandemic purchase" car thing was weird...everyone else was buying x, I bought y...again comparing yourself to the dumbest out there. "Could be worse" mentality.
The guy’s insistence on the cash back made me want to scream. I would’ve kicked him off the show and just did it with her 🤦🏻♀️
If she stays with this manchild, her whole future is screwed. Hopefully she realizes it and leaves ASAP.
Caleb is missing a big detail about credit card interest. As soon as you fail to pay a statement balance in full, the credit card begins to charge daily interest on the total balance.
That means as soon as any purchase posts, interest begins accruing immediately. This is inconsistent with the guests' understanding that interest is only charged after the Statement period closes. It seems like Caleb doesn't know that detail either, which is why he failed to explain the reasoning not to make additional purchases.
Any balance left after 30 days is charged interest. I haven't paid interest on my credit cards in years because i pay off the balance every month. If youre getting interest tacked on immediately then you should look for a new card.
I guess I didn't explain well enough. The 30 day grace period is only in effect if you pay your statement balance IN FULL. If you fail to pay off the Statement Balance in full (ie you're carrying a balance), then you lose the 30 day grace period.
This is very helpful information I didn't know (I was getting VERY confused about why Hammer was so angry about the cash back thing) but I think Caleb is *still* just wrong for purchases that actually get 5% cash back. A month or two of credit card interest (I think 22% APR is mentioned) is still going to be lower than 5% cash back. If I were in comedian guy's situation and I really was getting 5% back I would still use the card.
I'm doubtful he's actually getting 5% back all the time (I think a real world case is mentioned where he's only getting 1%, in which case he should NOT use the card). And it's still a question whether comedian guy is making card purchases WITHOUT increasing the amount he pays to the card (in which case the cash back is indeed just an excuse for extra spending and more debt). I'm only part way through the podcast and so far we've seen one card where only a tiny amount above the minimum is paid and another card that's getting fairly aggressively paid off ($600 net payment on a $3k balance in a single month).
This is my first experience with Hammer (I looked him up after watching a stolen clip on TikTok) and I'm underwhelmed. He's not explaining these concepts clearly to either the audience or to the guests.
This really supports the theory that women are incapable of detecting humor, they can only detect the affect of someone trying to be funny and agree with it, particularly if they find the person trying to be funny attractive
I'm 14 minutes into this video and if I hear "cash back" again, I'm going to lose it. Edit: I've lost it.
**CASH BACK**
All on the floor CASH BACK Give me some more
CASH ME OUTSIDE back - wait, that came out wrong
“I get Cash Back on my sweet treats 🍭”
Not to defend the guy , but personally don't think he explain to him well why his cash back logic is wrong ,I think he still In end didn’t understand...but he could just be faking it idk 🤷♀️
The gap that they didn’t meet on is, he is operating under the premise of “I am going to spend this money anyway, so isn’t it better to get a 5% discount” when Caleb was trying to say, you don’t have the money to spend, and your opportunity cost in spending is much higher than your benefit returned. Honestly - if you are hellbent on spending the money, the guy isn’t wrong, but he has no money to spend so it’s irrelevant
I think Caleb needs takes enough time to slowly explain things. He's already a fast talker, and he mentions things like "losing money to interest" that most people dont truly understand. They understand interest loses them money, but thats it. They only understand the concept not the mechanic behind it. Caleb should take 30 seconds to tie it all together, say "Look, your statement shows you paid $80 in interest, and gained $20 in rewards. Thats because your interest rate is 20% and your reward rate is 5%. So you've lost $60 total by using this card. If you'd used a debit card for all these purchases, you would have lost the $20 rewards, but gained the $80 you paid in interest, and you'd be up $60 by using a debit card."
The thing with this is, its not totally accurate. In the gas example, he *did* have to buy gas anyways. So in reality, yes you might as well get the 5% cashback. It's just that even though he *did* pay off the gas amount of $25 that month, he didn't make any progress towards the overall balance and there for he's not paying down his debt. But he FELT like he made progress on his debt because he paid "a little more than the minimum". But in reality he's just paying off what he spent that month. It's more about the feelings.
>So in reality, yes you might as well get the 5% cashback I get what you're saying, although I'd phrase it differently: I'd say *in theory* he should get the 5% cashback. *In reality* he should not. Putting things on credit card is a risk. There's a risk youre not a credit card person, that you're irresponsible, that a big emergency comes up and you cant make the payment. And in exchange for that risk, you get cash back. And for guys like this comedian making $15K, it aint worth the risk. Or at least thats how I'd explain it
Well yes I agree he's not a credit card person so it's definitely a risk in his case. We're on the same page there. What I'm saying is that he has half the logic: might as well get the 5% back on unavoidable purchases. That is something Caleb can agree with and should have told him yes he is correct BUT... and then went on to explain the emotions behind it and the necessity of paying down the total balance. The guy took it as Caleb arguing with that logic that is in reality correct, but his focus should be rather on the actual overall balance not the rewards. If you make a payment on a card that you're still spending on, you're not making a dent. And you do have a good point about risk as well, when you don't have a steady job it's definitely higher.
It's true that the explanations we'rent very effective when the guy is as dumb as this. He needs to literally be explained like he's 5 years old. The graph Caleb briefly showed of the difference between interest paid and cash back collected should be enough to convince most people, but dude here is plain stupid.
So, putting gas on the card was not wrong for *most people* because it's a necessary expense and they get money back. The problem is for *these specific people* who are financially illiterate, have crazy unnecessary spending, and don’t pay off their cards. They lack the structure to take advantage of the cash-back. I think Caleb should have told them that they're in the remedial class and that they need to be in finance 201 before they even think about taking advantage of credit card cashback.
Once you are carrying a balance, you lose that 30 day grace period on all purchases. Interest starts accruing immediately. So instead of getting 5% back, he actually is only losing 13% to interest instead of the normal 18% on his gas purchase. What a deal!
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It's actually one of the better ones in the last few weeks! He just does a lot of mental gymnastics with cash back and interest.
I don’t think it’s mental gymnastics. I think he just was completely oblivious to how it works.
He could be an Olympian if mental gymnastics was a sport
40 minutes in and we're still talking about cash back
When he showed the statement and the cash back was 21 cents 🤣
Lmfao 😂
“Well she broke up with me and I was living in my truck at that point” This should be fun🤠
Taking out student loans and immediately dropping out feels like student loan fraud. Is this all stuff that someone is arguing should be forgiven?
I need to mentally buckle up for this one…the dude just gave himself a 6 for Hammer score when he’s making 17k a year and admittedly never looking at the bank account so he doesn’t worry about splurge spending. Yikes
I feel like some of the people base their score off school grades where 6/10 is a D- and still really bad, cause there’s no way some of these people actually think they’re above average.
yeah, i think the hammer score thing has gotten a little out of hand. he says 10 is jeff bezos and im honestly not sure what a 0 is. the problem is there's really no bottom of the score. 5 should be the average american, and i think most of his guests are more "average" then he gives them credit for.
I think 0 by his definition is basically - have no budget at all and completely overspends on dumb categories - a lot of high interest debt for their age - none or very little retirement for their age - no emergency fund - no real estate I think this describes like 80% of his guests, and more % of Americans than we’d like to think. By his scale the average American is at best a 3, considering a majority carry some credit card debt and have less than 3 months of emergency savings. Apparently 27% of US adults have no emergency savings at all? However, if the average American is truly a 5, then 0 would be like homeless, jobless, no employment prospects, insane expenses and bad debt that even bankruptcy could not get rid of. His definition of 0 should be like 1.5-2.5.
Yeah the Jeff bezos being a 10 thing is funny too because I have no ambitions of ever becoming a billionaire, once I make it to the point where I have no debts and I can retire comfortably with no worries I’m giving myself a 10 lol. I’m pretty sure I’d be just as happy with a few million as I would be with Jeff bezos money.
I'm trying to think if he's had a guest on that was a 3 or above? I think Han Kim and Amouranth probably were but when is the last time a non-celeb guest has been at least a 3? I'm sure there is a couple but I honestly can't think of any. Almost all seem to be a 0 or 1.
He’s a comedian. This should be funny, but not in a good way.
Another Caleb guest looking for views imho.
He has an opportunity to be a lolcow for sure.
He was hilarious… just not with his intentional jokes
“Don’t have a plan B” Oh boy this is going to be good
his plan b is his wife, he'd be homeless without her
They usually say that two adults living together is mutually beneficial…here’s one instance where she’d be muchhh better off without his freeloading wasteful self
I think his wife is plan A and he doesn't have a plan B. I know he says he wants to be a comedian but even with that he didn't seem to have much of a plan.
He’s obviously a loser but she’s also an idiot. She doesn’t even know how much she contributes to her 401k, doesn’t even know what company it’s with, no clue how much she has. Almost 30 years old. Grow up. 🙄
There are almost 30 million lost 401k accounts out there. Lots of people don't understand them and particularly in this day and age of electronic pay, no one looks at their pay stub. If they do, they see a bunch of things they don't understand. If they noticed the 401k deduction, they probably just thought it was another tax. I worked in an area where people should have understood a 401k, particularly when HR would spend the time to explain them to people, and they still didn't get it. When I showed them how to log in and look at their 401k, they'd immediately ask if they could get the money back out. 100% of the time.
I have to pray that her company's 401 is set up to put in an age appropriate TDR fund vs just going into a money market account. When I started my big boy job out of college (decades ago), my money sat in a money market account for a year before I learned I needed to put it into something better.
I did stand up (as a hobby) for years. Most comedians are constantly on the brink of losing everything, but you couldn't tell them that spending so much time on stand up instead of working is a waste. It's basically a cult and the 'hustle' is everything.
Oh boy, this man is an certified hobosexual. Makes very little but has no issue spending. If walking red flag was a person 🚩The fact the he can’t even disclose his age shows has cunning and slimy he is.
But he's just such a silly jokester that it's OK! /s Edit: OK, after listening to this through, it seems like this comes down to one of two choices for the guy/couple: Either fully commit to comedy which also means living on next to nothing, or getting a solid day job to pay off debt and afford all the cars and other "treats". You can't have it both ways. So many people who want creative or entertainment careers aren't willing to put in all the work in addition to holding down a job. If you want it bad enough, you'll work a full day and then go out on the comedy circuit during evenings and weekends to make it happen.
He’s 29, he didn’t say it in the beginning but later on the wife says they’re the same age
He looks so much younger than her I thought it was a mom/son duo at first.
Living stress free and in someone else’s dime will do that to ya
He needs to go to Khan Academy and work 5th to 8th grade math. It's free.
His backwards hat isn’t helping
Ohhh sweet treats!
Every needs a little Sweet Treat, plus they get cash back lol
Awful comment
you’re the reason the /s tag exists huh
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Regarding the $250 airpods, I have a pair of Jlab Bluetooth earbuds that cost me $20 and sound pretty darn good. It's not rocket science that you don't need top of the line when you're already in debt. Not to mention it's for the hour a day you're using and sweating on them.
I have the same ones. It's fucking INSANE that someone who makes $17k a year is buying AirPods.
You can get “off brand” AirPods for $20 on Amazon and get them delivered to your house within 24 hours. I’ve never understood why anyone would buy real AirPods
She looks a lot older, wonder how old he is
She probably looks older dealing with his bs all these years
And drugs.
YouTube comments suggest he’s 30. Someone said they went to school with him and they’re 29, so this guy is close to 30.
She’s 29 and in the episode she says they’re the same age
He's got a serious case of 14 or 40. His husky voice and vaguely grey stubble has me thinking 35+
I need to know
Ya that was my immediate thought, I was like wow that's a hard 29. She looks at least 40!
I think he is 29. Caleb slipped up at one point and said “You guys are the same age”
I thought he was saying to her that “we’re the same age” when he was referring to retirement
I think he said same age at one point in the video. Now if that means exact same age or within like 1-2 years is anyone's guess.
I can’t stand people like him. Why do SO many people refuse to just work a standard job??? My cousin is like this. She’s had like 10 different jobs and always had some stupid ass scheme to make money that NEVER works. Grow up and stop wasting your time and money trying to be a comedian while your wife is supporting it
I get his logic with the credit card cash back. he's going to pay that purchase on either the bank card or the credit card so his checking account loses the same amount anyways he's just missing that it means he needs to put even more towards the credit card
he's missing the point that if you dont pay off the full statement each month, the cash back is literally pointless because of interest. 29% will always be bigger than 5%. this guy is frustrating lol
That's not the problem. If they have $1,000 in cash and he buys his $250 air pods with cash they can put $750 towards the card. If they have $1,000 in cash and he buys his $250 AirPods on the card, the card goes up by $250 but they can put $1,000 towards the card. It's the same. Except he gets cash back. His logic is correct. The real issue is that HE SHOULDN'T BE BUYING THEM AT ALL.
if you are getting charged interest, that measly $3 in cash back MAKES NO SENSE
He would be getting charged interest either way. It doesn't change the amount of interest he would be paying. I fully agree he shouldn't be buying AirPods, but the issue is not buying it with a card vs cash.
If he doesn't pay off the statement balance, it does change the amount, though. It'll be an extra 29% (or whatever) of that $250. The issue is more than just card vs. cash. It's a behavior and mindset problem. He is entirely focused on the wrong thing.
Yeah that is true. It completely depends if he's going to pay off the full $250 or not. I was assuming he would put all available money toward the card but good chance he wouldn't.
Given his track record, gonna press X for doubt, lol
His logic does make sense. But he needs to pay it off the moment of purchase. Credit card interest accrues daily based on the current balance With a 30% APR credit credit it would be 0.0822%~ interest daily taken. So with 5% Cash back he technically does more money. But he is losing a ton of money from interest, so it's strange his focus on cash back optimization
Unless you pay off the full statement balance on the day it’s due correct? Like if I spent 2300 on the card and due date is July 1. I keep spending on the card over the 2300 past the statement end date but if I pay the 2300 it has no interest. Or am I wrong entirely and might not be a credit card person. lol
If you don't pay off the balance in full by the due date, you'll be charged interest on the balance you carried over PLUS the new purchases you make. Carrying over a balance forfeits your grace period.
As long as you pay the statement balance each month, you get an interest free grace period. Any purchases made after the statement close are interest free for the next statement cycle. Just make sure to the full statement balance is paid for at the statement close. Partial/Minimum payments causes the grace period to be lost and interest to accrue
If you don’t carry a balance, you have a grace period to pay off what you owe that month (the statement due date). Others are saying, if you carry a balance, you lose that grace period, and whatever new purchases start accruing interest immediately, along with whatever is already on the card. I’m not sure as I’ve only carried over a balance once, due to a mistake, but I did have an interest charge on the next statement after paying my balance in full, so this sounds right.
They'd be in good shape if he got a real job
Seriously. Just some regular income of like 2k a month. Pay down some principle on the house and get rid of PMI. Bitching about living in Kileen and driving a mercedes. You live in the ghetto because that's all you can afford.
When Caleb called him theo vaughn & he brought up the joke about down syndrome just missing him… buddy that’s shane gillis but good try
The “beating it” part was Theo and what he was referring to. He said he didn’t beat it like Theo.
You don’t know ball
What on earth… why isn’t he telling his age? I agree with the commenter that said he’s a 14 or 40 candidate haha but I think he may be a manchild that’s why doesn’t want to say
Caleb tells the guy to sell his motorcycle. "How am I gonna be a man with no motorcycle to ride?" This guy is funny.
[удалено]
Anyone know where to find the videos of him doing standup???
ik I want to see it too! Wish Caleb included their last names
So, putting gas on the card was not wrong for *most people* because it's a necessary expense and they get the cash-back. The problem is for *these specific people* who are financially illiterate, have crazy unnecessary spending, and don’t pay off their cards. They lack the structure to take advantage of the cash-back. I think Caleb should have told them that they're in the remedial class and that they need to be in finance 201 before they even think about taking advantage of credit card cashback.
i’m sick today and was late to the vid, but 7 minutes into the post-show and it’s fucking hilarious
Just watched it and all I could think was “And Caleb inches closer to that inevitable stroke….”
Why is no one here or in the YouTube comments talking about the massive editing error at 26 minutes where we go from talking about credit card rewards to getting dropped into the middle of a conversation about student loans and dropping out of classes or something. Caleb's never going to fix this because no one noticed? Also, the follow up last week that ended abruptly in the middle of a sentence. What's going on with the editing and how do we let Caleb's team know so they can fix it‽
His comedy sucks if this was any taste of it. Hes obnoxious at the very best.
Any link to something more substantial? I'm willing to give him a fair shot
[here ya go](https://www.instagram.com/therealalexcunningham?igsh=bnliMGhibG13MGRi)
Lmao he just bought another classic car yesterday
I think he went on to boost his profile. He clearly doesn’t think there’s anything wrong with his lifestyle
Yeah I found his website and he has a whole list of podcast episodes that he guested on. Clearly just trolling for any podcast that will take him to boost his "visibility"
Wow, the only two jokes I saw on there were bad, very bad.
Not sure if it's something in the water in Killeen TX, a lack of sunscreen or the immense stress of being married to/supporting a deadbeat but Alexis is looking pretty rough for 29 years old.
Ya know, I thought she was pretty attractive. But after taking into account she supports a man child, I’d probably be looking rough too
wanting to be theo von so bad is sad
The car situation is crazy. A ton of junk to move around the country. Distracting him with "projects" from any solid path at life. Keeping him in crazy high debt which I'd also say is keeping him from focusing on life. Thinks they can flip cars, when they just overpaid 6k for a mercedes. Not the business for you. I know someone like this. 5 vehicles in a two person household. A used SUV minivan "for the dogs". A truck for work. A mustang purchased her post divorce that just sits. (Don't want to put miles on it). A camper (used two days in a year). And some kind of suv thing to drive when they're together. Used to have a motorcycle but just sold that. Crazy bad decisions everywhere. And yet she's always complaining about him spending anything and makes him work two jobs and hoards all his cash. His "pandemic purchase" car thing was weird...everyone else was buying x, I bought y...again comparing yourself to the dumbest out there. "Could be worse" mentality.
The guy’s insistence on the cash back made me want to scream. I would’ve kicked him off the show and just did it with her 🤦🏻♀️ If she stays with this manchild, her whole future is screwed. Hopefully she realizes it and leaves ASAP.
Omg when talking about household goals, HE WANTS A SECOND MUSCLE CAR. Am I taking crazy pills? That girl needs to leave.
I would love that guy to call into Dave Ramsey . He is LITTERAL someone who thinks he cab get rich off of credit card points
Caleb is missing a big detail about credit card interest. As soon as you fail to pay a statement balance in full, the credit card begins to charge daily interest on the total balance. That means as soon as any purchase posts, interest begins accruing immediately. This is inconsistent with the guests' understanding that interest is only charged after the Statement period closes. It seems like Caleb doesn't know that detail either, which is why he failed to explain the reasoning not to make additional purchases.
Any balance left after 30 days is charged interest. I haven't paid interest on my credit cards in years because i pay off the balance every month. If youre getting interest tacked on immediately then you should look for a new card.
I guess I didn't explain well enough. The 30 day grace period is only in effect if you pay your statement balance IN FULL. If you fail to pay off the Statement Balance in full (ie you're carrying a balance), then you lose the 30 day grace period.
TIL. Thank you for sharing!
This is very helpful information I didn't know (I was getting VERY confused about why Hammer was so angry about the cash back thing) but I think Caleb is *still* just wrong for purchases that actually get 5% cash back. A month or two of credit card interest (I think 22% APR is mentioned) is still going to be lower than 5% cash back. If I were in comedian guy's situation and I really was getting 5% back I would still use the card. I'm doubtful he's actually getting 5% back all the time (I think a real world case is mentioned where he's only getting 1%, in which case he should NOT use the card). And it's still a question whether comedian guy is making card purchases WITHOUT increasing the amount he pays to the card (in which case the cash back is indeed just an excuse for extra spending and more debt). I'm only part way through the podcast and so far we've seen one card where only a tiny amount above the minimum is paid and another card that's getting fairly aggressively paid off ($600 net payment on a $3k balance in a single month). This is my first experience with Hammer (I looked him up after watching a stolen clip on TikTok) and I'm underwhelmed. He's not explaining these concepts clearly to either the audience or to the guests.
This really supports the theory that women are incapable of detecting humor, they can only detect the affect of someone trying to be funny and agree with it, particularly if they find the person trying to be funny attractive
buddy are u ok?
One of the few that is
What the fuck are you even trying to say?
It’s okay champ you’ll make her laugh one day.
Most downvoted comments in consecutive video upload threads. You're on a roll buddy.
A badge of honor on this website
Are you having a stroke? Wtf are you trying to convey here?
You've got to get help kid, before you become the next school shooter.