Financial Audit’s Biggest Gold Digger

Couple's Introduction [00:00]

• Katie, 24, and Michael, 30, live in Austin, Texas, and are appearing on "Financial Audit."
• Katie is a stay-at-home mom to their two-month-old child.
• They are technically engaged but not legally married, opting for common-law marriage.

  "we're we're married huh we're married okay but we're well technically engaged but not like not federally"

Michael's Income and Sales Career [04:15]

• Michael works in sales, specifically pest control, and aims to earn $200,000 this year.
• He has been in sales for four years, with his income increasing significantly each year.
• His net income is approximately $80,000 after taxes.

  "um this year i should make like two hundred thousand dollars that's really good"

Financial Discrepancies and Debt [07:10]

• Despite Michael's income, the couple has significant debt and a lack of clear financial understanding.
• They have credit card debt and a CarMax loan, which Michael initially downplays.
• The host expresses concern about their spending habits given their income and debt.

  "so why is someone making that much money on this show of which that's what i was trying to explain it's a lot of debt though buddy"

Budgeting Struggles [10:19]

• The couple admits to struggling with budgeting, with recent efforts starting in May.
• They overspent their budget significantly last month, with a discrepancy of thousands of dollars.
• The host emphasizes the importance of knowing exact numbers when budgeting.

  "you're not budgeting if you're budgeting you know that number when i budgeted i know my number it was 20 i thought it was 22."

Home Birth Decision and Rationale [23:35]

• They chose to have their daughter born at home, believing it provided a better and more comfortable experience.
• Michael initially questions the necessity of a home birth, but Katie emphasizes it was for the child's well-being.
• The discussion touches on the term "birthing person" and its implications.

  "we needed her in the most comfortable place possible so our daughter could be born in the best situation possible"

Total Debt Revealed [28:00]

• The couple's total debt is revealed to be over $108,000.
• Michael admits he forgot about some of the debt, highlighting a lack of financial awareness.
• The host points out that their savings would barely cover 10% of their debt.

  "you don't know your numbers so how long have you guys been together two years okay okay"

Relationship History and Infidelity [36:00]

• Michael admits to cheating a year ago during a bachelor party in Colombia, receiving a blowjob from a stripper.
• Katie hit Michael after finding out about the infidelity.
• The incident caused significant trust issues and impacted Katie's mental health due to past abusive relationships.

  "i was at a bachelor party there was a lot of things that's wonderful there were a lot of um there's a lot of alcohol there was a lot of other things that you get in columbia south america"

Financial Roles and Joint Accounts [47:00]

• Katie did not want a 50/50 financial relationship initially, expecting Michael to be the provider.
• Michael sends Katie money, rather than having a joint account, which the host finds unusual.
• Katie has access to Michael's accounts, but the spending account is on his phone.

  "so you don't want to be 50 50 i'm fine with that so let's get into a joint you already have a kid"

Past Financial Exploitation [56:00]

• Katie is accused of being a "gold digger" and leading on multiple men for financial support before dating Michael.
• She admits to accepting money and gifts from an ex-coworker while dating Michael.
• Michael discovered this when the ex-coworker called demanding money back.

  "so you're just using this guy for his money and he you made it clear that he had no chance but you had no problem taking his money"

Wedding Ring and Financial Expectations [1:04:00]

• Michael bought Katie a custom lab-grown diamond ring worth $4,000.
• Katie feels she deserved a more expensive ring given her past "gold digging" history and Michael's income.
• Michael defends the ring's sentimental value.

  "you're settling for that bro makes two hundred thousand hours a year and you got a four thousand dollar ring"

Household Finances Today [1:15:00]

• Michael brings in the money, and Katie receives an allowance, with limited transparency on his spending.
• They disagree on who spends more, with Michael citing Katie's purchases of duplicate items and weed.
• Katie claims Michael spends a lot on weed.

  "i know that he makes a lot of money and um i mean he just sends me money i don't really ask or question what he does with his money"

Role Disagreements and Household Chores [1:35:00]

• Arguments arise over household roles, with Katie expected to be the homemaker and Michael the breadwinner.
• Katie feels Michael leaves messes around the house, expecting her to clean them up despite her role.
• Michael argues he does most of the chores after working long hours.

  "so the argument is is there was a situation specifically a few nights ago maybe a week ago where she wasn't she woke up with the baby the baby had like peed on her"

Home Birth Safety Debate [1:45:00]

• The couple defends their decision for a home birth, claiming it's statistically safer than a hospital birth.
• The host presents studies suggesting hospital births are safer for the baby, citing higher mortality rates for home births.
• They debate the reliability of CDC data and the role of undocumented immigrants in home birth statistics.

  "for healthy low-risk hispanic women in the united states hospital birth is statistically safer than planned home birth for the baby"

Credit Card and Loan Issues [2:05:00]

• Michael has a secured Capital One credit card and an Affirm loan co-signed by his mother, despite his mother living abroad.
• He also has a CarMax truck loan with a high interest rate and a past-due balance.
• The couple struggles to recall exact loan details and balances.

  "you told me at the beginning i have no credit what is wrong with this man"

Student Loans and Collections [2:15:00]

• Michael has over $46,000 in student loan debt from his neuroscience degree, with some accounts in collections.
• He admits to making bad decisions in his 20s and not paying them for some time.
• Katie has a Chime account and received a credit card for gas on their new car.

  "i went to college for what neuroscience listen whenever you decide to work again if you ever do instead of being a lazy spoiled bitch for your entire life"

Spending Habits and Taxes [2:25:00]

• The couple's spending includes frequent Amazon and Uber Eats purchases, energy drinks, and concert tickets.
• Michael owes over $13,000 in back taxes, which he prioritized paying off after buying a Porsche.
• They have a combined savings of around $12,000, which is insufficient for their debt.

  "you owe money on taxes and you have a minimum fee payment of 252.66"

Financial Score and Future Outlook [2:40:00]

• Their "Hammer Financial Score" is a low 2 out of 10, reflecting poor budgeting, high debt, and inadequate emergency funds.
• The host urges them to pay off their debt, particularly taxes, and build an emergency fund.
• The couple acknowledges their financial shortcomings and the need for improvement.

  "spending in a budget you overspent zero out of ten debt you have collections zero out of ten"

Post-Show Revelations [2:46:00]

• The host indicates he will be checking the couple's phones in the post-show, expecting to find more financial discrepancies.
• He mentions a woman named Veronica and eye emojis, suggesting potential further issues.
• The host promotes the Hammer Elite app and the "Financial Audit" application process.

  "i'm going to go through their phones in the post show you know i always find something it's going to be incredible"