Michael, 33, Richmond VA

Self-rated: 1/10

Career:

• Door to door solar salesman

  • Started working for them in February

  • Claims it's one of the best markets in the country for it

  • All commission, no base pay

  • Income so far this year, he brought a spreadsheet timestamp

    • Jan - $2163

    • Feb - $630 (Started Door to Door Solar here)

    • March - $3220

    • April - $3125

    • May - About $9000

  • Believes it will settle between 7'000 and 10'000

  • Payment model -

    • Paid 175 they see the presentation

    • $225 if they buy

    • 8-10 people -

    • Who in the world first answers their door to salesmen and two actually lets them do a presentation timestamp

      • "It happens, all the time"

      • Apparently old people are a tougher sell, usually younger demographic

    • Talks to about 20-30 people a day, thinks he should be doing more

      • Started out doing 4-6 hours a day, started working 10 hour days in May tripling his income

• Worked for a different Door to Door solar prior, made about 45'000, his first year doing it

  • Did it for 4 hours a day

Personal Life:

• Last year was a "little chaotic" timestamp

  • Started a business for online marketing

    • Wanted to fill the rest of the day since he was only putting in 4 hours a day at the prior solar company

  • Goes more into this "business" later on when explaining Debts

    • "So basically you get access to a platform, right? And you can uh you can start your business from there" timestamp

    • △

  • Also sold roofs in Florida for 3 months?

• "I've been in debt since I was probably... eighteen years old"

  • "About to completely run out of money" last Decemberish

  • Tries explaining how he got in this situation in broad terms timestamp

Debts/Expenses:

• "Special Financing Company LLC" $4'012 timestamp:

  • Down to about 3'000 now

  • Minimum payment $320

    • 240 to principal, 80 to finance charge?

  • Personal loan he took out to start the marketing business

  • Doesn't remember what the initial amount was

• Taxes due timestamp:

  • Has not paid the IRS jannies

  • filed extension so he has until September

• Interpersonal debts

  • Borrowed from them since he only made 600 in Feb?

  • Owes roommate about a $1'000

    • Paid off

  • Owes parents about $2'000

    • Not paid off

• Student Loans timestamp

  • $49'845

  • Got a biology degree from "Old Dominion University" (Not sure I heard the name right)

  • Thinks it's between 4% and 6%

  • Probably minimum payment of $500

• Another shot of The Spreadsheet, debts section this time timestamp

  • Verizon $1321

    • Financed an iPad and iPhone

  • Credit Card $6'628 timestamp

    • Cut it up sometime last month when he started making more money

    • Losing $100 in interest every month (18% in interest)

    • $164 minimum payment

    • Made $68 in purchases

Savings:

• Nothing set aside for taxes currently

• Nothing saved for Retirement

• $4000 in his checking

• Savings account 2100 ending balance timestamp

  • 3600 in 2000 out this month, might have gone to checking? Some Dave Ramsey thing about maintaining 1000 in savings

  • He starts going through all the debit transactions

    • Mysterious $148 charge from Alient timestamp

      • thinks he knows but doesnt want to say

      • When I google Alient I only see a ceramics company and something that seems to have been acquired by AT&T

    • Best Buy $742 timestamp

      • Doesn't remember what this was, seems genuine this time