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

[Toodles123]

Title Credit : auntasaurus19

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[lmmomSD]

About the late night Etsy binges: I like to scroll through online shops when I am bummed out. But you know what? I DON'T BUY. I window shop. I think "when I am in a better position, that might be fun to have". But I also know something apparently Katie doesn't-- that things don't really make you feel better. You might get a little rush from buying whatever it is, but when that fades, you are still you, with whatever problems you tried to salve/ease with the shopping. And she calls herself a psychologist....

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[LittleRus]

I am curious about the certified letter from the IRS. I have a small from home business and I’ve had errors on my taxes where I owed more after they were reviewed- I never received anything certified. I wonder if it an audit or something?

Their debt videos could be appealing IF they would just take responsibility. They are in their late 30’s and one has a doctorate- how do you not realize that spending money you dont have is a terrible idea? I was owing a lot for a couple years and my accountant didnt tell me to go in a shopping spree- he told me to max out a SEP IRA (retirement account for self employed people), which I did. I am curious if they even have retirement. They just seem to be playing dumb and putting blame on others


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[Graysky33]

How do you just keep charging to a credit card and never look at the statement to see your balance? And you buy a $72,000 car because it's good for your taxes but you cant afford the monthly payments?

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[FakingIt_MakingIt]

Playing dumb and putting the blame on others is Katie’s specialty.
Their parents went to great lengths to teach them about money and debt, you can’t tell me they didn’t know the basics about taxes. Maybe not the ins and outs of business taxes but the basic principle that if you make money you pay taxes on it! They both had traditional jobs before, they would have seen the tax deductions there at the very least.

I doubt their accountant told them to go out, get a credit card and blow a bunch of money. Katie just wanted things to keep up and didn’t really care about the cost. Just like her engagement ring.

[FakingIt_MakingIt]

Also, if they didn’t have the 10,000 to pay their taxes they had NO business buying that house. It really makes the financing they had to use makes sense. And again, aligns right along with Katie needing the country club house by Kelly, cost and logistics be damned.

[marshmallowfluf]

Nothing they said really added up.. if you were putting away money to pay taxes, why didn’t you have the money to pay taxes at the end of the year? Lol it doesn’t make sense..

I think they bought the house and then felt embarrassed driving their old cars around the neighborhood so they bought a fancy over the top SUV to fit in.


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[Boymomma123]

They put the blame on everyone else in every single situation.
Massive credit card debt/expensive car loan: blame the accountant.
Shopping addiction:blame it on pregnancy loss.
Neglecting to look at credit card statements or pay the balance off: blame ADHD.
Fail to educate yourself regarding taxes:blame the schools.

These two are a joke and they have an excuse for everything. I wish I could be a fly on the wall at her parents house and hear what they have to say about all of this.

I have a feeling they owe quite a bit in potential back taxes and are possibly going to be audited. The accountant may have suggested a company car for a tax purpose but I doubt they said go spend 50,000. I wish I could see all of the comments they don't approve, I am sure there are a lot of negative ones.

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[Nothankyou]

So many things I could say about this last video.

The title should be, passing the blame and excuses for why we ended up in debt (in all caps of course.)

But seriously, it sounds like Cullen is recognizing the problems way more than Katie. Notice no mention of buying illicit substances as a reason why they didn’t have cash on hand for their necessities.

Also, they don’t seem to understand that a $10,000 business expense does not equal $10,000 less paid on taxes. It means you can deduct $10,000 from your business income. So say their income was $100k, if they have $10k in tax deductible business expenses, it means their taxable income is $90k, and they still owe taxes on that lesser amount. It doesn’t take $10k off of what they owe at the end of the year.

I doubt they were getting bad advice, they just heard the pieces of it that they wanted to hear, did whatever they wanted, and ignored the rest.

And I don’t doubt that they make more money now than being employees somewhere else. However, they could be doing so much more and making such better incomes than what they are. And no, it doesn’t all have to be on social media, there are plenty of ways to make money at home while staying off of social media.

Also, Katie justifying her YT by saying she’s helping so many more people through the platform than she would at work. These YTer’s are always so ridiculous saying they are “helping” others. No, you aren’t helping anyone. Your provide a form of entertainment as we watch your train wreck. If anything else, you provide unhealthy reassurance and validation to those feeling better about their lives because they see how messed up yours is. You make people feel like they aren’t the only ones struggling, but you aren’t helping them. Please, get over yourself.


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[MommaOfThree]

I’d love to hear that phone call to Dave Ramsey they will never call bc they both know he will tell them to pick up another job. He’d really go hard on Katie for not using the degree she has.


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[FakingIt_MakingIt]

I’d love to hear that phone call to Dave Ramsey they will never call bc they both know he will tell them to pick up another job. He’d really go hard on Katie for not using the degree she has.


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Right?
They clearly didn’t spend their time between the first debt video and this one filming, prepping or editing a video. They could have spent some time on instagram deals but really why can’t they both pick up another job? 2 traditional jobs, which Katie could get a decently paying one at that, AND their SM job would knock that debt out faster. The kids are gone the better part of the day too so it’s not like they’d have any additional child care costs.
At the VERY least Cullen could take over managing all SM and a Katie could return to a guaranteed income job.

[MommaOfThree]

I’d love to hear that phone call to Dave Ramsey they will never call bc they both know he will tell them to pick up another job. He’d really go hard on Katie for not using the degree she has.


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Right?
They clearly didn’t spend their time between the first debt video and this one filming, prepping or editing a video. They could have spent some time on instagram deals but really why can’t they both pick up another job? 2 traditional jobs, which Katie could get a decently paying one at that, AND their SM job would knock that debt out faster. The kids are gone the better part of the day too so it’s not like they’d have any additional child care costs.
At the VERY least Cullen could take over managing all SM and a Katie could return to a guaranteed income job.

I think Cullen is doing the majority of the work when it comes to SM and YouTube. Katie would never do that bc she would have to actually do something. Cullen mentioned something about her having to type up reports everyday....I think he said everyday. Anyway, he mentioned it a couple of times. I’m assuming she has complained about how hard her job was and the. She had to do the reports over the appointments. She says she can do more through what she’s doing now. Judging by the way she handles her own children, I don’t think I’d want to take my kids to her.


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[GGF1987]

Something about this new video that I noticed was one minute they are acting like they were naive about stuff and didn't know what they were doing was bad but they turn around and make it clear they knew it was a bad idea. I think they were enjoying living the good life and being able to buy things and keeping up with all the other Youtubers and it was easier to just keep doing that until shit started going wrong. Eventually all those credit card bills have to paid and the car payment and the house payment. They had to know eventually it was going to come tumbling down.

[LilaRose]

About the late night Etsy binges: I like to scroll through online shops when I am bummed out. But you know what? I DON'T BUY. I window shop. I think "when I am in a better position, that might be fun to have". But I also know something apparently Katie doesn't-- that things don't really make you feel better. You might get a little rush from buying whatever it is, but when that fades, you are still you, with whatever problems you tried to salve/ease with the shopping. And she calls herself a psychologist....

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hahaha, I'm doing exactly the same thing. Filling up the online shopping carts, but never actually buying anything

[Lovethesnark]

It sounds like they charged everything to the business credit card, but wouldn’t pay it off. What were they doing with the money they brought in? They act like they would be forced to track down payment of the sponsored deals on a regular basis. That’s something I’ve never heard any other YouTubers complain about. I bet many of the brands weren’t happy with the content and they were too lazy to do it over. That could explain a lot about the lack of sponsored ads and why they never seem to land any ongoing deals. We’ve seen how they react to criticism. They’re probably 10X worse when dealing with brands.

[Boymomma123]

They keep talking about their "business" and growing it yet they continue to put up poorly edited videos that they put barely any time into. How can their podcasts be bringing in more money than a traditional job would? They just sound like stubborn teenagers with all of their excuses.

Sam from samika gets a lot of big time sponsors to work with them because he actually puts effort into his editing and photography skills. They have less subscribers than C and K and have used their skills to make a living outside of yt but still in the "influencer" realm. Cullen used to put effort into editing back in 2015/2016. I assume he was still editing then but I could be wrong.

I can't even feel bad for them whatsoever quit spending money.

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[Ducklings4]

If they did not have $10,000 to pay taxes is YT really a thriving job for them? All I heard is why they can’t do things not what can we do to get us out of this mess. There is no reason why either one of them or both of them can not get a second job. My husband worked a 9-5 plus we had four businesses and four kids. It’s what you do. I am so disappointed in their attitude. I cannot imagine how their parents feel.


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[thatonemom]

This video was, as others have noted, hard to follow. Cullen was so spaced out towards the end and I feel like his face was saying "this all lies we are telling you right now". How does someone with a doctorate not know that you need to pay taxes on income? What a mess!

[brittknee]

At 18:25 Cullen slipping up and saying they even bought iPads for their family members to “help with the business” and seeing the fear in Katie’s eyes so she darted them to the right shows this couple is lying. They should’ve edited that part out holy crap. I’m still watching the video but did anyone else catch that and see her eyes when he said that?

[brittknee]

The first 11 minutes of this video was hard to watch because their mentality is to invest in themselves and their channel but not pick up a side job to pay off debt. What they don’t seem to realize is that paying off their debt is and would be an investment in themselves both mentally and physically. I’ll start by saying them pretending not to know you had to pay taxes on youtube in the start is a lie considering Cullen was a 1099 in the past as explained in video from last week. From a financial professional side of things these two aren’t willing to put in the work by at least one of them going out and getting a job because selling your car and golf cart isn’t going to do the trick and it’s not an easy fix. Work has to be done and it seems prominent with most YouTube channels where you say the word work and the excuses start to flow with why that can’t happen rather than saying how it could happen.

I work on the financial side of real estate and while I can’t tell you their situation I can tell you that if people aren’t willing to be honest about their finances then they’re not willing to get to where their goal is and these two aren’t honest about their finances at all. They put in the title of their video that they owe $57,000 in one category of debt but in the actual video they say their largest debt is $30,000 remaining for their car.

Mark my words they’re milking this whole thing for the views and it shows. The two debt videos they’ve shared has landed them more views in one week than they normally get in an entire month with 10 or more videos.

The nerdy financial side of me is coming out but I guess what I gathered the most from their video is that I really dislike Katie.