Oprah Debt Diet Show, Part II

[keagansmom]

I think where you are financially makes a difference on how you view these families. I'll admit, if I was a family stuggling to make it on less than 40,000 a year I would nave a lot less sympathy for them. I do think it is brave to go on National T.V. and air your dirty laundry, but I see people willing to do it all the time for other (IMHO) more embarrassing issues . I don't know if Mr. & Mrs. Bradley are ready or willing to admit that they are responsible for the mess they are in. Peronal responsibility is a tough issue. I'm not perfect by any means, and I haven't always made the best/perfect money decisions, but when I have screwed up, I admit it, fix it, and move on. I think if the Bradley's can look at the "big" picture and truely face it, they can start to fix the problem. They are too focused on what they are "losing" today and not focused on what they will be gaining in the future.

 

[kfeuer]

I guess I'll be the lone voice here and say I was impressed by the families. After seeing the first episode I was outraged, but I think both families DID make quite a few changes considering this was only their first week. It is NOT easy to change your habits or attitudes, as outrageous as they may be to everyone else. It certainly wont happen over night. I also don't think self-control and frugality (and even living within your means to an extent) are just "common sense," rather things you learn as you mature and unfortunantely not everyone learns them.

There is NO WAY they will get rid of this debt overnight, there is no quick fix, so I think making changes slowly and building up is one way to do it and I think that is the way

There is no right way to pay down debt. When you are working with people who have little self-control (and yes I beleive self-control is learned not just common sense) then I don't think your can move in and change them 180 degrees overnight. I think THAT would be dooming them to failure.

I don't disagree with the concept of slowly cutting back, then cutting back some more, etc. What bothered me is that Lisa Bradley wasn't even willing to consider cutting back to going to the salon every 1.5 weeks! I'll be the first to admit I know squat about African-American women's hair challenges, but would waiting an extra 3-4 days make that big a difference? These people face losing everything, and they've got to start compromising. That woman definitely has some psychological issues to deal with--I'm glad to see that Dr. Robin will be there on the next show. Unless they get to the bottom of what's driving this behavior, no debt diet in the world will fix the problem (much like food diets and their abysmal failure rate).

 

[KirstenB]

But couldn't Lisa Bradley grow her hair into a natural? That surely would be less expensive than straightening, etc. I have crummy hair on a good day. Very straight fine brown hair. A friend calls it "brown paint". I wouldn't let her say that except she has the same hair, lol. Anyway, long story short. I've given up on perming, etc. I just keep it cut short in a pixie style. Very inexpensive.

Her hair payments are more than our car payments. Her car payments are more than our house payment, etc. As long as she's drowning in debt, her hair is a luxury, I don't care what Oprah says.

 

[barbeml]

That woman definitely has some psychological issues to deal with--I'm glad to see that Dr. Robin will be there on the next show. Unless they get to the bottom of what's driving this behavior, no debt diet in the world will fix the problem (much like food diets and their abysmal failure rate).

These people need Dr. Phil (you don't solve money problems with money) as much as a financial counselor. Both Lisa and Marnie come across as control freaks who are out of control. The body language between those two and their spouses is very telling. Lisa is really hostile about giving up "control" to "the big man" and Marnie slaps her husband's hand and swears at him constantly. They are both passive aggressive too. They nod and smile and agree to make the "changes" and then do what they want.

 

[Free4Life11]

I don't disagree with the concept of slowly cutting back, then cutting back some more, etc. What bothered me is that Lisa Bradley wasn't even willing to consider cutting back to going to the salon every 1.5 weeks! I'll be the first to admit I know squat about African-American women's hair challenges, but would waiting an extra 3-4 days make that big a difference? These people face losing everything, and they've got to start compromising. That woman definitely has some psychological issues to deal with--I'm glad to see that Dr. Robin will be there on the next show. Unless they get to the bottom of what's driving this behavior, no debt diet in the world will fix the problem (much like food diets and their abysmal failure rate).

I agree she's got to have some "issues."

If she's not willing to budge on the hair, fine with me (for now). Like I said, it's week 1. They can work on it. She's already made quite a few changes this week and even though they might not seem like much to us, they are likely big changes to her and her family.

I *do* think she's got to eventually cut back on the hair, but I don't think it's absolutely necessary that that happen immediately.

 

[mickeyfan2]

I agree she's got to have some "issues."

If she's not willing to budge on the hair, fine with me (for now). Like I said, it's week 1. They can work on it. She's already made quite a few changes this week and even though they might not seem like much to us, they are likely big changes to her and her family.

I *do* think she's got to eventually cut back on the hair, but I don't think it's absolutely necessary that that happen immediately.

I agree.

Also why do we find it so much fun to ridicule the families? They may not be us, but I am sure WE all could learn something from these three families and what the experts do with them. The three families are in the top 20% of all families in the country, so most of us make less (glad some here make more).

Also, I do work with many AA women and have AA friends. There hair care is more expensive than the long straight hair that many here have. I think she needs to go on every other week rather than every week. BTW the brads we see so often can cost $150+ to get done. I think it is time to stop with the hair comments. Unless you have hair like she does YOU do not know what it costs. Not every AA wants to shave their head or wear the hair of the 1970s.

 

[dvcgirl]

I agree.

Also why do we find it so much fun to ridicule the families? They may not be us, but I am sure WE all could learn something from these three families and what the experts do with them. The three families are in the top 20% of all families in the country, so most of us make less (glad some here make more).

Also, I do work with many AA women and have AA friends. There hair care is more expensive than the long straight hair that many here have. I think she needs to go on every other week rather than every week. BTW the brads we see so often can cost $150+ to get done. I think it is time to stop with the hair comments. Unless you have hair like she does YOU do not know what it costs. Not every AA wants to shave their head or wear the hair of the 1970s.

I don't think it's fun to ridicule the Bradleys, I just find them so over the top ridiculous. They're like a car wreck....I can't look away from them.

When she was whining in that salon, man oh man. She actually thinks that she is making sacrifices...lol! She has *barely* sacrificed a thing. I don't care if she's African American, Irish, Australian or Martian for that matter...she can't afford to spend $7500 a year on her hair...she can't afford to spend $3750 either. Nowhere does it say in the U.S. Constitution that African American women (or any women for that matter) have the inalienable right to have a stylish hairdo regardless of the cost. Afros aren't in style....I get that, but if you want to do something other than that to your hair, you still actually need to be able to pay for it. People are talking about her hair like it's a handicap. Well, gotta build that $600 a month bill into the budget, after all, she is an African American woman.....that's a bunch of baloney.

For me, it's really difficult to feel sorry for a family making 100K a year who has gotten themselves into a such a colassal mess simply from being selfish, acting like toddlers and living about three stratospheres above their means. That's all this is....immaturity and pure selfishness.

I don't know how they haven't had about 20 liens put on their home yet....maybe they have, perhaps they were found in the hundreds of unopened envelopes in the last episode. Eventually, and probably not to far off, credit will no longer be available to the Bradleys. Then and only then will Lisa Bradley understand what sacrifice truly is....

 

[disneysteve]

Unless you have hair like she does YOU do not know what it costs. Not every AA wants to shave their head or wear the hair of the 1970s.

I am not AA and in no way do I mean to offend anyone who is. And I am certainly no expert on hair care. However, I work in a town that has predominantly an AA population. This town also has a median income of about $23,000, well below the national median. I see AA women every day. The vast majority of them look perfectly fine as far as their hair is concerned. They don't look like they just stepped out of the 1970's. There is no way these women are spending $150/week on their hair because they simply don't earn that much money. This is a very poor area. So clearly there are ways to make your hair look good and stylish on far less money than Lisa Bradley is spending.

The point isn't to criticize how she chooses to do her hair. The point is that she needs to start distinguishing wants from needs and looking at different options that are available. Take the piano - Jean Chatzky arranged to swap the piano for a cheaper model and save them over $2,000/year. With virtually anything we buy in our lives, there are multiple options, some cheaper, some more expensive. We need to evaluate the choices and pick the ones that make sense for our needs AND for our budgets. The hair cost is just one area where she needs to reevaluate the choices she has made and look into less costly options because she just can't afford the choice she has made.

 

[disneysteve]

I understand why many of you feel the Bradleys weren't a good choice for the show, but I don't completely agree. I think every family in debt shares some common issues that can be used as teaching points for the viewers. The Bradleys are using a foreign ATM on a daily basis, spending $275/year on fees from their bank. What Jean Chatzky forgot to mention is that there is probably a 2nd layer of ATM fees from the other banks for using their machines. So the true amount is probably at least double - $550 - or more. Maybe others don't go daily, but they may realize by watching this that they should sit down and add up what their ATM usage is costing them.

The Bradleys eat out way too much - almost exclusively it seems. Many Americans eat out at least 5 or 6 times per week, spending thousands of dollars a year in the process. So maybe this will be a wake-up call about that. Actually, the one time I saw one of the teens in the Widlund family seem shocked was when Glinda told them how much was being spent on groceries - $1300/month. The truth is many, many people never sit down and look at what they are actually spending so they don't realize how wasteful and out of control they really are.

The Bradleys were spending $130/month on cable TV. I know a lot of people who do just that, and many of them earn a lot less than $102,000/year. We just got cable tv this week for the first time ever. Our monthly bill? $9.95! So maybe seeing this show will make some people rethink their cable bills.

My point is that even if Oprah was going for the "wow" factor (it is a TV show after all), and even if the average family watching the show can't relate to the overall situation of these families, they should certainly be able to relate to various particulars of how the families are spending their money. And maybe, just maybe, have the lightbulb go on for themselves and realize that they can improve their situations by taking some of the same steps.

I can't wait to see the March 10th episode.

 

[disneysteve]

They are over 200K deep in consumer debt. So, with 185K to go....all likely at very high interest rates....well, unless they file for bankruptcy protection, I don't see how they'll make it.

I just ran the numbers. If they owe $200,000 at an average rate of 18%, they would have to pay over $3,600/month to be debt free in 10 years! That works out to about 60% of their take-home pay. I just don't see how that is possible. I wonder if this is going to be addressed at some point on the show. No suggestion has come out yet for them to sell the home and move to something cheaper but it seems like that would have to be part of the package if they are ever to be consumer debt free. Also, the home really hasn't been discussed at all as far as how much they owe or how much equity they currently have.

 

[dizcrazy]

I am also looking forward to the March 10th show!

These families certainly have a sense of entitlement - and what spoiled children!

As much as I dislike Lisa, I cannot stand the way Marnie smiles and agrees to the financial planners suggestions and then say NO WAY when she leaves.

 

[LauraR]

But couldn't Lisa Bradley grow her hair into a natural? That surely would be less expensive than straightening, etc. I have crummy hair on a good day. Very straight fine brown hair. A friend calls it "brown paint". I wouldn't let her say that except she has the same hair, lol. Anyway, long story short. I've given up on perming, etc. I just keep it cut short in a pixie style. Very inexpensive.

Her hair payments are more than our car payments. Her car payments are more than our house payment, etc. As long as she's drowning in debt, her hair is a luxury, I don't care what Oprah says.

ITA.
The hair thing reminded me of my former neighbor. Her family was having financial problems after she lost a great paying job following the technology bust in 2000. One day she came over and asked if I'd watch her daughter while she got her hair done. No problem. When she came back she said she'd spent $125 to get it cut and highlighted. She said she knew it was a lot but she'd probably only need to do it every couple of months. I thought she was nuts doing that when they were in deep debt, but I didn't comment. Within 6 months they had to sell their house and move into a much smaller apartment.
I think a lot of people don't get the reality that if you are in debt, you don't HAVE money to spend on luxuries---and professional hair care is a luxury no matter who you are. Personally, I wouldn't be able to sleep at night if my spending was threatening my family's financial security.

 

[imsayin]

I just ran the numbers. If they owe $200,000 at an average rate of 18%, they would have to pay over $3,600/month to be debt free in 10 years!

Wow, if that were me, I would be sick to my stomach.

 

[Alicnwondrln]

I just ran the numbers. If they owe $200,000 at an average rate of 18%, they would have to pay over $3,600/month to be debt free in 10 years! That works out to about 60% of their take-home pay. I just don't see how that is possible. I wonder if this is going to be addressed at some point on the show. No suggestion has come out yet for them to sell the home and move to something cheaper but it seems like that would have to be part of the package if they are ever to be consumer debt free. Also, the home really hasn't been discussed at all as far as how much they owe or how much equity they currently have.

when this is all said and done it would be cool for oprah to do a foloow up in like 2 years and see where they are
i would htink in 3 years they would still owe$,
do you think Oprah will bail these families out? and if she did do you think thye would be in debt again within a couple years?

 

[kinntj]

I understand why many of you feel the Bradleys weren't a good choice for the show, but I don't completely agree. I think every family in debt shares some common issues that can be used as teaching points for the viewers.
The Bradleys eat out way too much - almost exclusively it seems. Many Americans eat out at least 5 or 6 times per week, spending thousands of dollars a year in the process.
The Bradleys were spending $130/month on cable TV. We just got cable tv this week for the first time ever. Our monthly bill? $9.95! So maybe seeing this show will make some people rethink their cable bills.

lightbulb go on for themselves and realize that they can improve their situations by taking some of the same steps.

I can't wait to see the March 10th episode.

Agree completely! This family is definately excessive to our family, but we can pick and choose things in there that ring true for our family. Even though we're not in debt, these shows help us improve the way we're living. We can definately cut back a little more on eating out, clothes shopping, etc. We also have cable at $9.95 a month and we also have cable modem. DH is not willing to get rid of the cable modem, so we have to keep the $9.95 t.v. cable just to save $6. If we were to get rid of the t.v. cable out cable modem bill would go up $15 a month. We use to have the $100 cable bill, but now it's $50 (internet and t.v.). This works for us!

 

[zippeedee]

when this is all said and done it would be cool for oprah to do a foloow up in like 2 years and see where they are
i would htink in 3 years they would still owe$,
do you think Oprah will bail these families out? and if she did do you think thye would be in debt again within a couple years?

I really hope Oprah does not help these people financially. That would be like buying an alcoholic their own bar! The best thing she can do for them is pay for continuing therapy and financial counseling for all of them. Paying off even $1 would just further their outrageous sense of entitlement and result in their being $2 deeper in debt the next day!

 

[disneysteve]

i would think in 3 years they would still owe$,
do you think Oprah will bail these families out? and if she did do you think thye would be in debt again within a couple years?

They will definitely still be in debt in 3 years. No matter how much they cut back, it isn't possible to repay 200K in debt on a 100K income in 3 years.

Will Oprah bail them out? I can't imagine that she would ever do that. That would totally undermine the whole point of the show. She would get horrendous publicity for doing that. I believe these folks are actually on their own.

 

[disneysteve]

The best thing she can do for them is pay for continuing therapy and financial counseling for all of them.

This is an excellent idea and she probably will do this.

 

[dvcgirl]

I just ran the numbers. If they owe $200,000 at an average rate of 18%, they would have to pay over $3,600/month to be debt free in 10 years! That works out to about 60% of their take-home pay. I just don't see how that is possible. I wonder if this is going to be addressed at some point on the show. No suggestion has come out yet for them to sell the home and move to something cheaper but it seems like that would have to be part of the package if they are ever to be consumer debt free. Also, the home really hasn't been discussed at all as far as how much they owe or how much equity they currently have.

This is my point....they will never get out of debt if Lisa Bradley sort of eases into the deep end of the pool, reluctantly giving up each and every luxury as they go. They need to cut, and cut deeply. No amount of restricting premium cable channels and choosing more economical cell phone plans will get them out of this mess. The house needs to go, the car needs to go, and then they still would need to live on a bare bones budget for years to pull out of that mess.

 

[kaseyC]

I am not AA and in no way do I mean to offend anyone who is. And I am certainly no expert on hair care. However, I work in a town that has predominantly an AA population. This town also has a median income of about $23,000, well below the national median. I see AA women every day. The vast majority of them look perfectly fine as far as their hair is concerned. They don't look like they just stepped out of the 1970's. There is no way these women are spending $150/week on their hair because they simply don't earn that much money. This is a very poor area. So clearly there are ways to make your hair look good and stylish on far less money than Lisa Bradley is spending.

disneysteve, you are right. There are many African American women whose hair looks fabulous and they are not going to the salon weekly or paying hundreds of dollars per appointment. Lisa Bradley, if she insists on getting her hair done frequently, needs to find the local beauty school and get her hair done there. Thats what I did when I was fresh out of college and making the low salary of a new teacher.

Unfortunately, like many others who have watched this series so far. I have a hard time believing the 2 families featured yesterday are going be successful. They are just not willing to sacrifice enough. Also why isn't anyone suggesting these folks take on a second job?