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Topic : 01/02 Money Rescue: Extreme $pending

Number of Replies: 212
New Messages This Week: 0
Last Reply On:
Created on : Friday, October 03, 2008, 02:13:32 pm
Author : DrPhilBoard1
(Original Air Date: 10/06/08) Has reckless spending left you in the red? With consumer debt in America now exceeding $880 billion, how much are you contributing to that statistic? Tantani describes herself as a big-time shopper who has accrued nearly $25,000 in credit card debt. When Dr. Phil reveals how much a $100 pair of shoes actually costs after credit card interest is tacked on, will she -- and you -- think twice about making another purchase with plastic? Then, Heidi admits to getting a high from shopping and has even skipped paying utility bills to buy name-brand items. Heidi’s husband, Steve, loves to spend money on gadgets and tools. He recently lost his job, and you won't believe how he spent his severance pay! Dr. Phil gives the couple a money-spending quiz. Take it yourself to find out if you could be headed for economic disaster. Financial expert Loral Langemeier pays a visit to Heidi and Steve to get to the bottom of their financial mess. What makes Heidi reach a breaking point and end up in tears? Will the couple follow Loral's financial plan? Then, follow up with Brandy and Greg, a couple who was nearly one million dollars in debt before coming to see Dr. Phil. Have they made changes? Plus, learn how to determine your financial IQ. Join the discussion.

Find out what happened on the show.

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October 6, 2008, 3:26 pm CDT

Money means too much!

I don't understand why people could spend so much money!! Married couples work full time to support their habits rather than be with their children. I don't think these people could live on the income we have. We do quiet well and have wonderful children who know what the almighty dollar means. How can people spend so much money?????????
 
October 6, 2008, 3:33 pm CDT

Money

The biggest problem in America is Mainstream white America who is living upon their means.  Just maybe, this is a good reason price kept getting higher, higher and higher because these people keep buying Corporate America Junk because of a lie, The American Dream.

 

The people who lack the income to compete corporate America don't care as long as mainstream white america kept trying to live the lie of the american dream.

 

I think if mainstream white america stop and think and look back at this country history and understand they are the biggest losers and been used and they are the ones who is keeping greedy, crooks, politician, and CEO's by making everyone kept paying higher price's.

 
October 6, 2008, 3:34 pm CDT

Seriously?

I'm a single mom putting myself through college, working part-time, and barely scraping by.  I'm not collecting welfare or any kind of state assistance.  I'm trying so hard to instill some solid values in my sons, and this type of pointless spending just makes me sad.  This type of show just hurts.  So much waste.  There are so many things you could have done with that much money...

 

You want some satisfaction, and sense of worth and accomplishment?  Why not go to your church and reach out to some of the people in your community?  Take a good look at some of the families living in your town who don't have gucci bags or drive brand new suvs.  You think your son will be humiliated by a sign in the front yard, but not by your going on national tv?  Stop concerning yourselves with what the Jones family has or thinks, and teach your son that a sense of self-worth doesn't have a tag with "Gucci" sewn inside of it.  Maybe all of you spending Thanksgiving volunteering in a shelter serving meals would help you appreciate a little more deeply how truly blessed you are...house, bags, and SUV...or not.

 

God Bless, and I hope you can turn it around...

 
October 6, 2008, 3:35 pm CDT

savings

  I've never worried much about having savings in case of an emergency (we do have retirement savings) because my husband has what I've always considered guaranteed income.  This consists of $1700 a month social secutiry and $975 in pension.  He still works and I work part time.  We could live of f of this 'guaranteed' income if we had to.  Should I be concerned?  Help please.
 
October 6, 2008, 3:43 pm CDT

Hedi is more spoiled than her own son

Heidi just made me absolutely SICK! They way she was presented with how selfish it was of her and her husband to be spending like they are at the expense of their own precious son's future, and yet she just sets her jaw against selling any of the things she already has. They are THINGS!!!! And yet she is willing to sacrifice her son's college education to keep them. Talk about spoiled! She is the one who is spoiled, not her son, and she seems to be the most selfish person in this scenario. Her husband is willing to part with his THINGS in order to help the family situation, but not her. What a poor excuse for a mother and wife. It's all ME! ME! ME! where she is concerned. Not what she can do to make a better life for her family. In 50 years time those Coach purses will be non-biodegradable items in a landfill, when they could have contributed something to her son's future. Poor, delusional girl.
 
October 6, 2008, 3:43 pm CDT

Hold your ground

Quote From: scandulouss

I live in the SE and just finished the show.  My husband and I were interested in learning about fixes instead we got to watch a show about everyones debts.  The first thing we said to each other when it ended was that Heidi is not going to change!! She is in 2nd try at bankruptcy and not willing to change.

 

We have 3 children, Our oldest is 20 and in college, the twins are 13.  The twins is what we are having a hard time with.  My husband and I are not in over our heads.  We are both employed full-time, we both have retirement funds, We also have life insurance on ourselves as well as the children.

 

Our problem....Is my guilt...My kids are constantly asking for things that are just not necessities.  I always say when I buy somehting for my self..Do I need this for my survival?  If the answer is no then I dont purchase if I havent got the extra money.  But my twins on the other hand DO NOT GET IT.. they just ask and ask and ask.  Then they get angry and rebellious and say mean things and have massive attitudes.  End result their pay-off.. I buy it for them.  My husband HATES this behavior I have, but how do I get teenagers who are old enough to know better that money is forever and we have to save our money?

 

I think my guilt is that we used to live in Fort Lauderdale, FL and moved to GA because the financial stability and cost of living in FL was getting out of hand not to mention getting hit by hurricanes everyother  year.  We moved to GA to save money and stay financially ahead.  If we wanted to be like the couple on TV we could have easily stayed but decided for our survival and stability we had to make the move.  We have never ever been late on any payments for houses, cars, school etc... and we did not want to start so we moved.  The twins are always saying...we had more money and did things in FL.  They fail to realize we have the same money we just live in country now and not a big city.

 

How do i teach them ?? I believe i am reinforcing this behavior when i give in but I feel guilty, what my guilt is ?? I cant not figure it out? Why do I do it? What is the guilt for?  I am only at work 3 days a week 12 hrs a day, I have 4 days off a week.  I think they do not realize I am saving now for them later, and they really do not need hair coloring or cell phone or x-box 360's etc...

 

Maybe Dr. Phil will have a show on ideas on how this can be ovecome and how i can change this behavior and train my children to have respect for money.  I fear they will get jobs and just end up like the people on this show...BROKE and BUSTED/HOMELESS.

 

Please Dr. Phil have a show on similar financial suggestions/tips and strategies with raising financially responsible children. 

My son is 14 and has the same attitude sometimes.  He gets ...really, almost nothing.  I'm working part-time, going to school full-time, and money is really pretty tight. 

 

When he wants something I can't get for him - I tell him to earn the money himself.  He spent an entire weekend doing my mother's gutters.  Worked....really worked.  She gave him $100.  He and his brother have come up with some pretty clever ideas, from lemonade stands to dog walking, they have bounced ideas all over the place.  When they won't try to figure out something other than asking me for what I don't have - I know they don't want it badly enough.   ...and I tell them so. If you want it, do something to earn that money.  Everyone has to work for what they have - you are no exception.  If you want it badly enough, you can make a little here and there until you save enough to get it.

 

Stick to your guns mom...you do them no favors giving them everything they want.  I just know they'll appreciate the lesson eventually.  Good luck!  :-)

 
October 6, 2008, 3:46 pm CDT

Felt like I was watched a couple of kids

Am I the only one that heard whining, and "I wanted" and "I needed"  for a majority of this show? I honestly couldn't believe those were 2 fully grown adults acting like a couple of spoiled children. As other posters have said, this is exactly the type of entitlement behavior that led to this financial bust. Too many people have lost the concept of delaying gratification, personal responsibility, and the inability to discern between wants and needs. Nobody NEEDS a closet full of shoes or no child NEEDS new toys and designer clothing weekly. Quit trying to keep up with the Jones's. I feel absolutely no sympathy but just disgust at this behavior. Get over yourself lady, you're not a princess but the captain of a sinking ship.

Budgeting is NOT that difficult. It's called sitting down (with the spouse if you're partnered and being honest with each other usually helps!) once a month and go over the finances. Excel spreadsheets make it so much easier as well as the other software out there.


 
October 6, 2008, 3:56 pm CDT

Obviously erroneous post

Quote From: fwrinkledsoles

The biggest problem in America is Mainstream white America who is living upon their means.  Just maybe, this is a good reason price kept getting higher, higher and higher because these people keep buying Corporate America Junk because of a lie, The American Dream.

 

The people who lack the income to compete corporate America don't care as long as mainstream white america kept trying to live the lie of the american dream.

 

I think if mainstream white america stop and think and look back at this country history and understand they are the biggest losers and been used and they are the ones who is keeping greedy, crooks, politician, and CEO's by making everyone kept paying higher price's.

 

Are you being serious??? I dont think race has anything to do with this you must have surely meant to post this in a different message board.  If this was meant for here then you missed the beginning of the show when an african american woman was the first guest!

 

America is Mainstream white America ....I think if mainstream white america   LOL  ;0)

 

 

 

 

 
October 6, 2008, 3:56 pm CDT

10/06 Money Rescue: Extreme Spending

Quote From: curlyj

I can understand why some people are not sympathetic, nor empathetic toward the guests who were featured today; however, money problems can hit anyone at anytime - with or without a rhyme and reason.

 

I've always had a little debt but have been diligent about paying it off; I've made payments on time, and even sent a little more to pay it off quicker.  In the last two-and-half years, my family and I experienced divorce.  This was my choice; and with it I knew there would be consequences.  Although I avoided the court battle in order to buy-out my ex (with the house, so I could maintain a stable household for my children), it has become very rough.  Where I live you need at least two incomes to "make it"; and child support only helps slightly, especially due to the fact that the formula and ratios are based upon "showing" income; in which, I make dramatically more.  The price of oil, gas, and groceries haven't helped at all.

 

I'm definitely going to explore the suggestions from this show and the related articles; I'm really looking to pay off my debt, save for my kids' college, and have money for retirement.  I'm living paycheck to paycheck and I'm a professional - there is something definitely wrong - HELP!!!

The difference between unexpected events like accidents and illness is that this couple made every single bad decision on their own. Car accidents and serious illnesses truly can just happen while motorhomes and Coach purses don't.

As far as your situation, your kids don't really need college funds. That money should go toward your debt and retirement. Many of my friends in my circle didn't have any money for college, but worked their way by going to community college and state universities, or earned scholarships and grants. My husband comes from a very comfortable family and he paid his way entirely, just as they did when they were his age. Their philosophy was not to give their children handouts but encouragement, good advice, and a roof to live under while they went to school. As a result, he and his siblings are very responsible without a single dollar of debt. State schools are not as terrible as many like to think.
 
October 6, 2008, 4:09 pm CDT

10/06 Money Rescue: Extreme Spending

Give me a BREAK!!  Another couple whining about the financial mess they created.  Get real.  Help some  REAL people with REAL situations.  Their whole situation could've been avoided if they grew up.  I wish I had a $40,000 truck in my driveway;  my husband would love all those unopened tools; my son would love every possible toy;  and purses, shoes and clothes, OH MY GOD!  I have 2 pair of jeans, I wear sweatshirts with a polo shirt underneath (I only own a few of each); I own 2 purses, one white and one black;  shoes? guess what, I have a pair of gym shoes, 1 pair of causal boots and 1 pair of winter snow boots.  Dress clothes, forget it.  I can't afford to go out so why have dress clothes.  Try this for a real situation:  my husband became ill 2 years ago and was put on medical leave.  Shortly after that I found work at my sons school part-time and part-time work from my computer at home.  My carpenter husband is now released for work but cannot find a job because the market is dead.  We are looking at losing everything, the result of an illness and the current market.  Not because we were so spoiled we had to spend everything we made.  That's a REAL situation!
 
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