Sorry for not posting this earlier. On Montel Williams today they are having a show on how you can eliminate debt. I will post if they have interesting tips or ideas if you don't get a chance to watch it!

Please do post anything that you learn - I will not be able to watch it!!!!!

I taped the show once I saw the post ...

I didn't really learn anything new other than to get rid of credit card debt and NEVER take a payday loan (I had no idea just how bad those were.)

I was surprised however that she was encouraging people to take on weekend jobs after working 40+ hours in the week as a suggestion to bring in more money to pay off their debts. I would have thought it would a lot simpler and more 'family friendly' to encourage them to cut back on what they spend rather than to work more.

Anyone else see it?

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I watched most of it but not all of it. I think that one husband needed to put his foot down with his wife and her constant "business ventures".

yah I was thinking the same thing. One of the reasons I DON'T work weekends is because dh works all week long and we never see him. WE use our weekends for family time and just cut back on the rest of the stuff we can. I do work and pick up extra hours when I can, but we both work hard, and do what we have to do. I try not to pick up weekend hours if I can help it, but will if we need money badly enough.

My dh gets upset if I work weekends when I'm not scheduled to. BUT Montel did point out that even if you get a second job or work weekends, it IS only temporary. I guess thats true, you don't have to do it forever.

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~Missy~Mommy
Meghan7.Samantha6,Cameron4

Back together!! Sept 28th Boston TDCenter!! Woohooooo!

I also was kind of disapointed in the show- I thought they would give good advice- but basically everything we already know.

For the most part i was kind of disapointed in their guest. One couple did not have a cushion- he works FT she works pt evenings and like everyone else, the don't have a "cushion". She suggested that one of them gets a job on the weekends and put the money into savings. Montel, I personally think gave better advice than the lady- he said even if you save $3 a week- it adds up over time.

Another couple is about $400,000 in debt- in due part to his wife purchasing 2 houses when they bought their own house. Her plan was to make money from it (renting it out). He was the only one working from what I got and she was one of those "get rich quick" ladies, who I think does not work. The ladies advice was for her to get a job (she was a smart and sophisticated lady) and hold onto it. Also the lightbulb moment which I think all of us would of said is- sell 1 or both the houses (besides their own) and pay down their debt. Also, do not get into anymore get rich quick things until you are out of debt. The only "good" advice i heard from the woman was- your DH works hard for his money, in return you need to work hard with his money (which SAHM's for the most part work on!)

Next couple was a guy working 2 jobs and his girlfriend is going to school. They used a payday loan service (which I have always heard DO NOT USE!) and they were paying $200 every 2 weeks on the interest and not the principle (I guess they are paying off the principle right now). She told the woman that she needed to get a job, even if it is only on the weekends to contribute to repayment of the debts (the lady looked mad!). Montel told her that she should find a job on campus- sometimes you may get a little discount on your tuition. (I thought he gave better advice!).

Then they had a lady from Motels.com (I think) to give people advice on how to save $ on vacation. Basically, all inclusive is good. Book Tues- Tues instead of Fri-Fri (lower airfare and hotel rates). You can get a nicer hotel out of the city for a lot less money.

In the end the lady gave 3 tips. She gave a Consumer Credit Counciling # for people to call. Don't hide from your debts- write down the total so you know what is going on and I forget the last one. The only advice that basically stuck out the most is that a lot of wealthy people out there do not start off with a lot of money. As parents we should give our children good morals with money and provide a good education (not buying them everything too!)- that was the best tips I personally thought that she gave. Oh, she also said to save your money in savings, mutual fund or retirement savings- she is not into realestate and stoks- too violitale (I think i spelled tha wrong). Sorry it was soo long!

For everyone who watched it- don't you think Montel gave better advice? I was hoping for a couple like me and DH. A blue collared worker and a SAHM- because daycare costs so much money. Actually now that I think of it- that one guy drives a bus, so he is maybe considered blue collared- but their house does not look like a blue collared house. I hope I did not offend anyone with that!

I didn't get to see the whole thing, I only saw about half of it while I was getting ready for work. I saw just up to the black couple, the lady that was buying houses to rent. I did think that Montel gave better advice to the first couple. I liked them, they felt more like me and dh. My dh is the one with the spending issues, and I work PT becasue I can't afford daycare. MIL watches my kids for free for me a few days a week.

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~Missy~Mommy
Meghan7.Samantha6,Cameron4

Back together!! Sept 28th Boston TDCenter!! Woohooooo!

I agree! DH and I were both working in non profit and it would have cost the same amount in daycare for two kids as I was making every day. It wasn't worth going and paying it all for daycare. I imagine it's the same for other lower income families. That would have been a really good example but the lady probably would have told us to go get a job on the weekends. :furious: That comment hit a nerve.

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I recorded it, thought is was more on how to get out of debt basics, not ideas on how to save or reduce spending. I was particularly impressed.

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:love:R4JBNS Traci
Wife to Ben Sahm to Jonathon, Jessyca, Jordan & Jackson

I’ve been SWAK’d!
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I’ve been SWAK’d!