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DVCLiz
07-09-2006, 08:08 PM
Did anyone else see the premiere of this new show on A&E today?

WOW!!!! I thought it was the financial equivalent of "Clean Sweep." Larry Winget, a financial guru who's written a book, worked with a couple who were making really bad financial decisions (like spending the mortgage payment to go on vacation.) He met with them, made a plan and had them sign a contract (including things like "Hand over your finances to a family member who will babysit your money and keep your spending under control" and "Have a yard sale to replace the money you took from your childrens' savings accounts.")

I think this show would make a real impact on people who needed to see what others in financial trouble are doing with their money, and how they "get out from under" the debt.

Hope we'll see more episodes and can discuss them!!!!

DisneyMomOK
07-09-2006, 09:00 PM
I saw it, too. I immediately thought about some of the DIS folks that are NOT supportive of vacationing while you owe debt; especially since the wife was spending their MORTGAGE payment to vaction. They really needed some direction!

Sharon

MickeyMickey
07-09-2006, 09:11 PM
I saw it, Interesting show. How do you spend twice what you make every month, and not realize it!

DawnM
07-09-2006, 09:14 PM
My understanding was the that husband DID have a decent job and had lost it. They just hadn't really changed their life style or spending habits.

$800 month for payment on a truck!!!!! Wow! That blew me away!

Dawn

DVCLiz
07-09-2006, 09:19 PM
Yes, I thought of some DIS people, too!!!! I thought of those people who always post about family time being important and children only being young once to justify unwise vacation spending. This was that mentality to an extreme - I don't think I've ever seen a poster admit to spending the mortgage!! And I also saw that they had a monthly $188 "timeshare" payment - wonder which one it was??!!! "Big Spender" family, are you DVC owners - or former owners???

I did think it was a great idea - I don't know who that guy is, but he seemed to have some common sense about finances, and to be able to motivate that couple to make some positive changes.

I think I could have probably done almost everything on his list pretty easily, but it would be EXCRUIATING to have to give your financial information to a family member and admit that you needed "babysitting", wouldn't it???

Anyone else see it???

DisneyMomOK
07-09-2006, 09:47 PM
Liz, I wondered about which timeshare, too. I wondered why they had to spend the mortgage, if they owned a ts. I missed part of the show where he was listing their expenses, I wondered why it was not on the list to sell.

Sharon