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Topic : 09/15 Money Matters: Surviving the Crisis

Number of Replies: 184
New Messages This Week: 0
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Created on : Friday, September 12, 2008, 01:15:18 pm
Author : DrPhilBoard1
Are you in debt? During these tough economic times with foreclosures on the rise and gas prices through the roof, more and more families are panicking about their financial stability, and some are only one paycheck away from being on the street. Would you and your family know what to do to survive? Just two years ago, Brandy and Greg say they were living the American Dream: a big house, a fast boat, plenty of spending money and four beautiful children. That all changed when their six-figure income was reduced to nothing. On the brink of losing everything, how did this family end up nearly a quarter of a million dollars in debt, and could it happen to you? Money expert Loral Langemeier shares a 90-day plan to help get their finances back on track. Then, Milton and Patricia were awarded the largest home ever given away on Extreme Makeover Home Edition. The headlines now report that the mini mansion is near foreclosure because of the couple's frivolous spending. They come to Dr. Phil to set the record straight and clean up their financial mess. And, Dr. Phil reveals the five biggest money mistakes people make. Could you be making them right now? You don't want to miss these tips! Join the discussion.

Find out what happened on the show.

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September 15, 2008, 8:07 am CDT

09/15 Money Matters: Surviving the Crisis

the home base business idea is a grand one but like others all the ones you find are scams or just a way for them to get rich.  over the years i have probably wasted over a thousand dollars on this types.  Im not college educated but I am smart enough to do just about anything yet I cant put the ideas together to make a home bsed business work.  For Dr Phil to say get entrepenaural (sp) is fine but its not as easy for us average folk.
 
September 15, 2008, 8:18 am CDT

some people need to get a clue

I have been unemployed for almost a year and we are struggling just to survive. Watching your show today just blew me away. The guests thought the were doing something because they fed there family for $125 a week. My family of 5 haves a monthly food budget of $325. I basically live in a ghetto and they want to complain about getting a free house and $100,000 home maintanence fund and $25000 college fund for there children. My children will be lucky to go to any college. My phone, cable and gas have been shut off,and my car was reposessed, so it is kind of hard to find a job. In my town there are not to many jobs to be had anyway. For someone to get a new house and all that they have received and still cant seem to make it is ridiculous. I have worked since i was 16 but since I dont have a college education have never made much money and no one will give me a house.
 
September 15, 2008, 8:58 am CDT

Wrong Financial Expert!

I usually agree with Dr. Phil but in this case he chose the WRONG financial "expert".  He should have enlisted the help of Dave Ramsey.  He has much better advice than Loral Langmeier.  I looked at her website and she is just soooooo off base!  Dave Ramsey's debt snowball is the way to go. Live like no one else so you can live like no one else! 
 
September 15, 2008, 9:24 am CDT

poor manager of money

GOD kept me home today from work for me to watch this show!!! I felt like I was listening to my life story except I don't owe quite as much but still we are in the same boat. Like most people (I'm learning ) we too have no concept of managing money and are up to our ears in debt. We got here by borrowing and spending someone elses money until it is all gone and now we can;t make enough to keep up with what we owe.Sometimes I wake up wondering what planet we've been living on to get into the shape we are in now. We have been married 32 years and are broker than we were when we first got married making less than 200/wk. We've always lived on the edge but never fell over the wall until NOW. We are getting older and can't work 2-3 jobs to make ends meet. The sad thing is we are making more than we've ever made but have no cash flow because it's all going out on our debts. I wish someone that knows how to manage money can get our situation going in a positive direction so we can started looking for a better future when we can retire on more solid ground. I am the money manager in the family and got my qualifications from the idiot academy for money managing!!! All I ever thought money we made was for the moment and the hell with the future. We started making more money say 5 years ago and are making over 100,000/yr together but right now I have made all 5 of the money mistakes Dr. Phil mentioned on his show and we have no cash flow to get through the week . I  enrolled in Care One Debt Counseling in Feb/2008 and seem to be worse off than we were trying to pay all our debitors. I changed from the debt management program to the debt settlement program where a law firm gets involved to settle your debt by having the debtors agree to a lesser amount of what you owe them,but this takes several years to get  enough  money in their special account to even start negoiating . Anyway the phone is ringing off the hook every second of the day and weekends by our creditors and I feel so guilty because I can't pay back what they lent us. I don't want to run from my responsibilties and want to pay back what we've borrowed and the credit cards we ran up but the cash flow isn't there to pay--- Are we doing the right thing by going through the debit management or should we just bite the bullet and bankrupt and start over??? HELP a hopeless situation  Mamadee811
 
September 15, 2008, 9:46 am CDT

Are you high? Seriously.

The best thing about me is that I speak my mind. The worst thing about me is that I speak my mind so here goes. I took the time to register after seeing this episode and I have to ask your producers, are you high? These people are the best you could do with finding someone who represents the struggles we are all going through financially? Barbie and Ken and the ungrateful recipient of a new home? Please do not insult me by offering help to those who are not creative enough to help themselves.

 

I am an author of three books currently in bookstores. I present seminars on horses based on my books. So what, right? Three years ago, my husband had a tooth pulled. It was infected and the infection traveled through his bloodstream to his heart, brain and spine. Our perfect lives were shattered when he had three strokes, two open heart surgeries and was left with two metal valves and a pacemaker at 47.

 

I lost my job caring for him and watched all my things we had worked for march down my driveway and belong to someone else because we couldn't pay the bills. My truck, horses, trailer, wedding rings, you name it. Then one day I started spending every waking moment writing because I couldn't leave the house while he was so sick. I sent letters with the money I recieved from selling my things to every publisher and agent I could find an address for and what I got back was a lot of "Im sorry but..." letters. Hundreds of them. I kept going and secured an agent. She sold my books to Wiley publishing and they gave me an advance. I used that money to turn our barn into a dog boarding kennel and let me tell you it was work!

 

My point is that horrible things happen to good people but you have to be creative in how you handle it. We have never been handed anything in our lives. We have worked hard for every penny and we are not out of the woods yet. There is a light at the end of the tunnel but it is good to know it is not a train. So to the producers of the Dr. Phil show, great advice on how to pull yourself up after a financial disaster but Barbie and Ken was a really bad example. By the way, my husband lived through it all only to be struck by lightening while trying to help a neighbor. Please help us help ourselves by checking out our books at tenabastian.com and drop us an email.

Love your show by the way.

 
September 15, 2008, 9:49 am CDT

Help - we need some verbs in the sentences

We are in a situation similar to the first guests on today's show.  The real questions I had were not answered, just kind of glossed over.  Here's my question: when people are in a situation where they are in a house they can no longer afford, bill collectors are calling, and everything seems to be falling apart, the obvious answer is to get out of that house and rent, buy a trailer, or do whatever you need to do.  We are very willing to do this.   The expert on today's show mentioned the problem, but offered no real solution.  When your credit is way down in the pits, you will not qualify to buy anything smaller or even rent.  When getting a co-signer is just not an option (not everyone is in their 20's or 30's with parents able to help), are there any solutions to this problem?  It's kind of like you stay in the house you can't afford, because at least you have a roof over your head.  It would be great if on a future show Dr. Phil could address this, and give some real steps people could take to overcome this problem.
 
September 15, 2008, 12:25 pm CDT

american people need to wake up

The people of america need to wake up and learn the right way to live instead of living with their eyes bigger than the wallet. NO JOB IS FOREVER. there are 1500 people wating for your job. Because you are making a 6 figure  sallary today doesnot mean you will make it tomorrow. I do not feel sorry for anyone that has forced them into financial get out of your debt now before you become a statistic.
 
September 15, 2008, 12:33 pm CDT

09/15 Money Matters: Surviving the Crisis

Can't afford gifts for the kids but can afford frosting on both heads???????????????????????????
 
September 15, 2008, 12:36 pm CDT

money counsellor

hi

 

I have been watching today's show and am totally disgusted with the "expert" who is advising the couple who are in debt almost $1million.  Her advice to refi the mortgage ??? etc... is so off base.  these people need to declare bankruptcy, give the house back to the bank, and get real.  yes, they need more income and jobs - they also need to stop crying about birthday presents for the children.  that's sad - but they cannot even afford basic food.  the wife seems to be able to afford her hair color etc... he resents giving up his fancy coffee. A credit score of 400 is so bad that they cannot buy a "buy here pay here " car !!! I suggest you get a realistic financial consultant who is tough and understands the real world out there today.

 
September 15, 2008, 1:16 pm CDT

Bill paying

We are retired-however, even when we both were woking I tracked the monies I spent.  Whenever I used our Discover Card or anyother card, I put it immediately in my check register.  I subtract it from my balance and when the bill comes in, I add back in and pay the bill.  This way the money is there to pay the bills.  People are in way over their heads because they don't budget.  If you buy books, stop, go to the library.  We managed on roughly $49,000 a year and did just fine.  If you can't afford to go out to eat, don't go.  If you can't afford a big family, don't have one.  I'm not impressed with people's BIG, EXPENSIVE houses, fancy cars, fancy vacations.  If your friends don't like you for being YOU, you need different friends.
 
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