Cullen and Katie: Drowning in debt, parenting is inept | Part #24

[WheresMyCoffee]

Personally I have noticed that if in a certain day I don't have much to do, I'm way more reluctant to do the little I have to do and on a days that are jam-packed with tasks, I am full of energy and I excel and exceed my goals! (a Task that would take an hour on a lazy day, would take only 5 minutes on a busy day)

I think that is the reason why they are so lazy. They have organised their life so, that they have so little amount of responsibilities that they have become numb to reality. If they were way more busy, they would also be way more productive also on other areas of their lives.

I am the exact same way, I work part time and am a nurse so sometimes my schedule will be weird and I will have like 3 or 4 days off in a row and then work 2 or 3 days in a row and I find I get so much more done around the house during my 2 or 3 working days because I am in the work mindset, usually on my first day off I get alot done the next day a little less and the last day I am so useless because I just dont have the work mentality

[lmmomSD]

That house was over 600k. That house payment is at least 3500. Their last house they said was 2600sq feet. That’s what they need to go back to.

Just catching up on comments here and wanted to pop in and say their mortgage payment probably is nowhere near $3500 for a $600k house that they put a down payment down on. That’s not to say they shouldn’t sell the house but just wanted to say that downpayments lower your mortgage each month and Alabama isn’t extremely expensive like some as far as PMI and property taxes yearly would go.

I bet it is. The mortgage on the old house was $1200 and this house was 400k more. Plus higher property tax, higher insurance, and $300 a month to the country club.

Thanked this accidentally. The estimated payment on Zillow for the current price is only $2000/month. So I doubt they're paying $3500. HOA fees are $36/month, and doesn't that include the country club?
It's possible though. Property taxes are estimated at $165/month.

Sent from my SM-G960U using Tapatalk

[HashtagBlessed]

My guess is that, if they sell that house any time soon, when you factor in what they’ve currently paid towards the principal and their down payment, they’ll be lucky to walk away from closing with just their down payment. Then you factor in the real estate commission, home repairs they made over the last 3 years, property taxes, closing costs, and any additional fees, and they’ll be lucky to break even. Not to mention all the money they spent BECAUSE of the house- maid, country club dues, landscaping, new furniture, etc. My guess is they’ll be losing quite a bit of money on this home purchase when all is said and done, but at least they won’t have a mortgage payment they can’t afford hanging over their head, and hopefully they won’t have to bring money to closing (If they end up selling for less than they owe the bank, they have to bring that amount to closing in order to get out from under the loan.) They likely don't have anything left to put towards a down payment on a third home. And just think about how much help they got from her parents to be able to afford that first down payment. All that equity is likely gone.

How much money do you put on credit cards before you realize you have a problem? Apparently for Katie and Cullen, it's when your credit cards are literally maxed out. I get reining in spending, I had to do it when we became parents and had to factor in a massive daycare bill. But how do you justify $700 on hair extensions or $300 on a piece of coral to "feel good about yourself" when you are drowning in debt?

[GigglyMint]

Just catching up on comments here and wanted to pop in and say their mortgage payment probably is nowhere near $3500 for a $600k house that they put a down payment down on. That’s not to say they shouldn’t sell the house but just wanted to say that downpayments lower your mortgage each month and Alabama isn’t extremely expensive like some as far as PMI and property taxes yearly would go.

I bet it is. The mortgage on the old house was $1200 and this house was 400k more. Plus higher property tax, higher insurance, and $300 a month to the country club.

Thanked this accidentally. The estimated payment on Zillow for the current price is only $2000/month. So I doubt they're paying $3500. HOA fees are $36/month, and doesn't that include the country club?
It's possible though. Property taxes are estimated at $165/month.

Sent from my SM-G960U using Tapatalk

No way they’re only paying $800 more when they tacked on 400k to a mortgage payment. And Katie said the country club was $300 a month.

[chloe6124]

My house loan was for 367k. Our payment is 2400 with taxes and insurance They are paying at least 3500 if not more.


Sent from my iPhone using Tapatalk

[brittknee]

That house was over 600k. That house payment is at least 3500. Their last house they said was 2600sq feet. That’s what they need to go back to.

Just catching up on comments here and wanted to pop in and say their mortgage payment probably is nowhere near $3500 for a $600k house that they put a down payment down on. That’s not to say they shouldn’t sell the house but just wanted to say that downpayments lower your mortgage each month and Alabama isn’t extremely expensive like some as far as PMI and property taxes yearly would go.

I bet it is. The mortgage on the old house was $1200 and this house was 400k more. Plus higher property tax, higher insurance, and $300 a month to the country club.

I work in the financial side of real estate and don’t know their area or specifics so maybe I’m right and maybe I’m wrong but what I do know is that they’ve lived beyond their means for far too long and now here they are. Selling a car and selling a golf cart is the least of their worries because when it’s all said and done they’re now going to need to get their finances in order to where they can even start thinking about buying another home or renting a place that needs a stable credit score and good debt to income ratio. Which doesn’t sound like they have either considering he had to sell an iMac for $800 just to buy groceries because their cards are all maxed out.

[brittknee]

Just catching up on comments here and wanted to pop in and say their mortgage payment probably is nowhere near $3500 for a $600k house that they put a down payment down on. That’s not to say they shouldn’t sell the house but just wanted to say that downpayments lower your mortgage each month and Alabama isn’t extremely expensive like some as far as PMI and property taxes yearly would go.

I bet it is. The mortgage on the old house was $1200 and this house was 400k more. Plus higher property tax, higher insurance, and $300 a month to the country club.

Thanked this accidentally. The estimated payment on Zillow for the current price is only $2000/month. So I doubt they're paying $3500. HOA fees are $36/month, and doesn't that include the country club?
It's possible though. Property taxes are estimated at $165/month.

Sent from my SM-G960U using Tapatalk

Again I don’t know their specifics but first rule of thumb anyone in the real estate field will tell you is to trust nothing Zillow says. And you don’t have to buy into a country club when living in a subdivision that has that amenity available either so they could always cut that out if it’s running up their mortgage....which a club of any kind is never factored into a mortgage loan or payment in the first place. It sucks for them all around but nobody did this to them they did it to themselves ya know?

[Boymomma123]

I think they said last night they quit paying the extra country club fees that allowed them to golf.

I agree that if like Cullen said he had to sell a computer for $800 just to get groceries/pay for Christmas then they are in a much worse financial place than we thought. Eventually they will run out of things to sell.

I am surprised they would be able to get a loan with all of their debt but who knows. They were obviously approved for a loan for the house they put an offer on that recently sold.

Sent from my SM-N960U using Tapatalk

[FakingIt_MakingIt]

Id be shocked if they can qualify for a mortgage any time soon after this. Their credit has to be shot, maxed out cards, missed payments... unless of course they have a cosigner.

When your credit cards are maxed out and you cant buy groceries you get a second job!! You don't dig your heels in and insist SM is all you need. Sure, maybe they are currently making more on SM then they would at traditional jobs but at this point EVERY dollar you can make counts and is very needed. They both need to get off their assess and get another job. When theyre caught up and getting ahead then they can weigh out which job provides better.

[brittknee]

At this point I think we can all rule out that they’re doing Dave Ramsey in any way because I’ve had clients that have done this method and they were hustling working their regular jobs and doing things like pizza deliveries and house sitting at night and on the weekends. Posting videos to YouTube and milking it about your debt story for views ain’t going to cut it when you have to go to Facebook marketplace to sell your furniture to put groceries on the shelves of your pantry.

[marshmallowfluf]

At this point I think we can all rule out that they’re doing Dave Ramsey in any way because I’ve had clients that have done this method and they were hustling working their regular jobs and doing things like pizza deliveries and house sitting at night and on the weekends. Posting videos to YouTube and milking it about your debt story for views ain’t going to cut it when you have to go to Facebook marketplace to sell your furniture to put groceries on the shelves of your pantry.

I was shocked to look at their views from the past month. The Christmas vlog was only 23k, and the few videos before that were only around 8k-10k. Now these debt videos are making around 50k. They know exactly what they are doing. They will be able to get out of debt by “sharing their struggles” and they still wont have to put in any real work..


Sent from my iPhone using Tapatalk

[HelloSweetie]

At this point I think we can all rule out that they’re doing Dave Ramsey in any way because I’ve had clients that have done this method and they were hustling working their regular jobs and doing things like pizza deliveries and house sitting at night and on the weekends. Posting videos to YouTube and milking it about your debt story for views ain’t going to cut it when you have to go to Facebook marketplace to sell your furniture to put groceries on the shelves of your pantry.

I was shocked to look at their views from the past month. The Christmas vlog was only 23k, and the few videos before that were only around 8k-10k. Now these debt videos are making around 50k. They know exactly what they are doing. They will be able to get out of debt by “sharing their struggles” and they still wont have to put in any real work..


Sent from my iPhone using Tapatalk

A couple of successful videos is nothing (and 50k isn’t even that successful). They are going to need A LOT more than that to get themselves out of debt.


Sent from my iPhone using Tapatalk

[Theirmom]

They will never NOT be in some kind of personal turmoil. They’re not capable of it.

Even if they manage to dig themselves out of debt THIS time, they’re just going to find themselves in another mess because they don’t actually change their behaviours.

They are not the type to prevent problems, they are people who REACT to overwhelming problems because they HAVE to.

-Won’t address finances until the brink of bankruptcy.
-Apathetic towards their marriage to the verge of divorce.
-Ignoring drug/alcohol issues until they face legal/physical consequences.
-Neglecting their mental/physical health until a major health crisis.


Everything from their lackadaisical parenting style to their willful blindness about finances. The only thing that motivates them is experiencing extremely negative consequences. And as soon as they’re “comfortable” again, they go right back to complacency.

[Em1899]

They went from vlogging to feeling sorry for themselves


Sent from my iPad using Tapatalk

[HelloSweetie]

They overspent by $80k in just two years. That is not a small problem of overspending.
They are not only going to have to adjust their lifestyle to live more within their means, but are also going to have to play catch up on retirement and emergency savings. It’s pretty sad that both C&K benefitted from having free education, but Gaines and Brooks are most likely not going to be that fortunate because of their parents irresponsibility and laziness.

I’m honestly floored by all the commenters here acting like this is going to be a simple fix for them. The house hasn’t been the only issue. If you’re so far in debt that you’re even entertaining the idea of your house being “taken away from you” then you have placed yourself in a position where you have very few options.


Sent from my iPhone using Tapatalk

[Boymomma123]

It really bothers me that they keep placing blame on their accountant/financial advisor. I highly doubt they told them to go out and buy the vehicle they did. I am sure all they said was a company vehicle could help with tax deductions. They took it upon themselves to finance a car they couldn't afford. Even if their house sells within the next couple months they are still screwed. I sure hope they are no longer paying for gymnastics for princess Gaines. I am floored that they still put their kids in activities this fall when over the summer they couldn't afford gas. Didn't they go on vacation last summer with the DB and E&J? How could they possibly afford that? I do not feel bad for them and they need to face reality and go get any jobs they can. They could live off of yt/influencer income and save all of the second income. If they are unwilling to even try finding outside work I see no way for them to get out of this situation.

Sent from my SM-N960U using Tapatalk

[Boymomma123]

Sorry for the double post, but now they are blaming Kelley and Jay for pressuring them to buy the house. I also did not know that Kelley and Jay lived in the same neighborhood but in a different house. They must really like the neighborhood.

Sent from my SM-N960U using Tapatalk

[FakingIt_MakingIt]

Again, just more blaming of everyone but themselves.

[Romeoxsavexme]

Wow. Their new video was so scary. They literally blamed Katie’s sister for buying their ice palace. Omg


Sent from my iPhone using Tapatalk

[chloe6124]

So the 80k includes the car. Just getting rid of the house and car they should be able to get that debt knocked out pretty quick. 50k may seem like a lot but they should have no problem knocking that out in a year. I think that is why they probably don’t need second jobs. The main issue is just getting rid of the car and house and the rest of the debt should be able to be knocked out quick.


Sent from my iPhone using Tapatalk