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Monday, July 14, 2008

Til Debt Do Us Part

I have discovered a wonderful show on Slice TV called "Til Debt Do Us Part". It's a quick 30 minute show where a personal finance professional, comes in to the aid of families in trouble. She comes in for a month, visits once each week and goes through their finances and spending.

Each week there is a challenge the couple must do to work together and dig their way out of financial difficulty as well as become a more communicative couple.

She takes away their debit and credit cards, and divides their flexible expenses into jars of cash, labelled with the amout per jar and category. They have a log to write down each expense.

At the end of four weeks, if they have completed all the tasks she gives them, she will give them $5000 to use towards their debt.

It has been very informative to see what situations other couples get into and how they work to get out of it.

I love that she doesn't come in and do it all for them, but rather teaches them skills to better themselves financially.

What I would like to see is follow ups of the couples after six months or after a year to see where they went in their debt repayment.

I see things in these couples that I recognize in myself. It's a good awareness.

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