'You're going to die under a bridge broke': Caleb Hammer loses his cool with a Texas man who refused to work more than 15 hours a week and used to spend $9,000 a month partying

“You’re going to die under a bridge broke,” Hammer told his guest.

Like a number of young Americans, bad planning, low financial literacy and misplaced priorities seemed to be jeopardizing this young man’s financial future.

Childish financial decisions

Myles seemed to be making bad decisions in nearly every aspect of his personal finances: income, debt, spending, saving and paying taxes.

His income dropped considerably after he gave up a lucrative job in Pennsylvania. Myles claimed his monthly income working in the home construction industry was between $10,000 to $12,000 a month. His friend convinced him to move to Austin to work on a new project that never materialized. Meanwhile, he depleted his $30,000 emergency savings fund.

At the time of the episode, published Feb. 2024, Myles earned roughly $3,500 a month as a field auditor for financial institutions.

Unfortunately, he picked up some bad spending habits while he was a high-earner. He admits he didn’t have a robust strategy for tackling taxes because he always had excess capital and spent up to $9,000 a month on traveling and partying.

Myles had struggled to shake some of these habits despite a dip in income. Hammer estimated that approximately 30% to 35% of his monthly budget could be better spent. Meanwhile, he owed $5,245 on a credit card at an interest rate of 30%.

To make matters worse, he refused to work more than 15 hours a week and said he spends six hours a day training in Jiu Jitsu, which he described as, “Almost an addiction at this point.”

Hammer was shocked by these inexplicable financial decisions.