Financial Audit's Most Ghetto Couple

The Shocking EBT Revelation [0:00]

• A $100,000 household income is questioned regarding EBT usage.
• The couple receives $500 per month in EBT, which the host finds baffling.
• The wife explains she received it when she was pregnant and not working, but has continued to use it.

  "This is a $100,000 household. How much you get an EBT? Like five . Why possibly?"

Income and Employment [1:10]

• Amber, 36, works as a paraprofessional, earning $25,000 annually.
• Sean, 31, is an engineer intern earning $75,000 annually, with three years until full licensure.
• Amber expresses love for her job despite the low pay, while Sean's income is significantly higher.

  "No offense, but it is exactly how I would view Baton Rouge, Louisiana. Black."

Financial Infidelity and EBT Usage [4:00]

• The host questions why a six-figure household is on EBT.
• Amber admits to using EBT for dining out, which the host vehemently opposes.
• Sean expresses frustration over Amber's continued EBT use and lack of transparency.

  "Why the is that happening to a six-figure household?"

The Joint Account Dispute [5:15]

• Sean cut Amber off from a joint account due to her spending habits.
• Amber still has access to Sean's account and takes money without his knowledge.
• This financial secrecy is labeled as "financial infidelity."

  "So we, we, we attempted to have a joint account. Yeah. And whenever we realized that that didn't work, uh, that I cut her off."

Amber's Yarn Dyeing Business [7:10]

• Amber runs a small business dyeing yarn.
• She claims to invest all profits back into the business.
• Sean criticizes her for taking money from his account to fund her "hobby."

  "I dye yarn and so. Oh, very good. She dyes yarn."

Spending Habits and Prioritization [9:30]

• Amber took $500 from Sean's account for business supplies during a trip.
• She recently withdrew money for a hair appointment.
• Sean feels his financial contributions are not respected.

  "Well, yeah, they have different events throughout the year. For the- Different cities."

The Braces Loan [15:00]

• Amber took out a $7,000 loan for braces without fully discussing it with Sean.
• This occurred while they were in the process of buying a house.
• Sean expresses frustration over unilateral financial decisions.

  "And then she comes home with the metallics in her mouth saying that she has a $7,000 loan."

House Purchase and Parental Assistance [17:30]

• The couple purchased a house with financial assistance from their parents for the down payment.
• Sean disliked the house, but they felt pressured to move due to their previous living situation.
• They are now facing unexpected home repair costs.

  "Fortunately, both of our parents knew the situation. They saw years. Your parents."

Communication Breakdown and Whiteboard Method [20:00]

• Sean attempts to discuss finances using PowerPoints and a whiteboard.
• Amber admits to not looking at the whiteboard and feeling unheard.
• She discusses finances with a friend but not Sean.

  "Well, he's trying to meet you at your medium. I tried to meet her."

Discussing Finances with Others [22:00]

• Amber discusses their financial situation with a car salesman she recently met.
• Sean feels this is inappropriate and a breach of trust.
• Amber claims she talks to him because Sean doesn't listen.

  "I have a friend named I talk to, but we just talk about different things."

Inheritance Plans and Secrecy [24:00]

• Amber discusses potential inheritance plans with the car salesman before Sean.
• Sean feels excluded and hurt by her secrecy.
• Amber claims she didn't want to upset him about sensitive family matters.

  "And then the main thing about what's going on with my parents came up. And so we was talking about it."

Relationship and Romantic Life [27:30]

• The couple admits their romantic life is "non-existent."
• Amber desires more planned romantic activities, while Sean's attempts at flirting are seen as "weird."
• They struggle to find time for dates due to childcare and financial constraints.

  "How's y'all's romantic life right now? Non-existent."

Financial Irresponsibility and Credit Cards [32:00]

• Amber has multiple credit cards, including Indigo and Credit One, with high balances and interest rates.
• She admits to using them for business expenses, personal items, and even rent for her business booth.
• Sean discovers a second Indigo card and is shocked by her spending.

  "Dude, what are we doing? Come on, man. You're gonna get the silent treatment for a long time after this one."

Unforeseen Home Expenses [38:00]

• The couple incurred significant debt for a new roof and AC shortly after buying their house.
• They have loans for these repairs at high-interest rates.
• Sean expresses frustration that they rushed into the house purchase.

  "Now you have a 13% interest rate on $20,213.10 with a $306.32 minimum fee payment."

Student Loans and Future Education [41:00]

• Amber has $43,846 in student loans for an associate's degree and plans to pursue a bachelor's.
• The host questions the financial wisdom of accumulating more debt.
• The couple is offered free career certifications and therapy.

  "You have $43,846 in student loans. Yeah. And you make $25,000 a year."

The Chaotic Household Environment [44:00]

• The household is described as chaotic with six dogs, two kids, and constant arguments.
• The couple's arguments have escalated to physical altercations, involving their teenage son.
• The use of a belt for discipline is discussed, highlighting a harsh parenting style.

  "So we were sitting down across from each other, and I confronted her about her friend ."

Financial Score and Path Forward [49:00]

• The couple's financial score is a 2.5 out of 10.
• They are underwater financially and have significant debt.
• Recommendations include combining finances, budgeting, and increasing income.

  "So, yeah, right now, you guys are underwater by $143.84."

Post-Show Revelation [53:00]

• A hidden financial detail, a $66 loan payment, is revealed in the post-show.
• The host suspects it's related to cash advances or a hidden credit card.
• The wife admits to using cash advances when needed.

  "So this wasn't on your credit report, you didn't tell the producer. But this was a $66 payment to a loan."

Financial Infidelity and Trust Issues [54:00]

• Amber admits to cash advancing and having multiple credit cards she didn't disclose.
• Sean expresses severe lack of trust due to her financial infidelity.
• The wife's actions, like taking money from his account for hair appointments, erode trust.

  "It actually really is. Like I would have a severe lack of trust. It's very, very hard."

Household Spending and Savings [56:00]

• The couple's checking and savings accounts show significant spending on non-essentials.
• Sean used his savings to pay for Amber's car repairs, yet she still criticizes his financial contributions.
• Their savings account has depleted significantly.

  "Savings went to zero. From only $200, but it went to zero."

Retirement and Debt [59:00]

• The couple is significantly behind on retirement savings.
• Their combined debt, excluding student loans and mortgage, is substantial.
• The host emphasizes the need for behavioral change and increased income.

  "Definitely behind. But at least you have something. But if we combine, we're going to be at about a two out of ten."

Budgeting and Financial Deficit [1:01:00]

• The couple is currently underwater by $143.84 per month, even without full pet insurance.
• Their expenses, including daycare, utilities, and subscriptions, are high.
• The host stresses that they need to drastically increase their income or cut expenses.

  "Yeah, literally, basic minimum to survival. And reminder, you guys literally are spending money on bullshit."

Final Assessment and Advice [1:04:00]

• The couple's financial score is 2.5 out of 10.
• They need to combine finances, budget strictly, and increase income.
• The host suggests bankruptcy as a last resort if behavior doesn't change.

  "The reality is you just need to, I'm sorry, the hobby. I want you to continue if you can, but you need to go double your income."