I started watching a new TV show on Life Network call Till Debt Do U$ Part. It’s an unscripted reality series where a financial guru name Gail Vaz-Oxlade helps couples who are deep in debt get out from their financial abbess. Each episode takes an intimate in-depth look at the money and relationship issues of a unique family or couple as they try to get out from under a crushing debt load. The first episode I saw was call Drowing In Debt.
Bill and Tasia are sinking deeper into debt every month and they just can’t figure out why. They agreed that Tasia would stay home with their two small children, so the couple is living on Bill’s part-time income while he tries to get his own business off the ground. To friends and family, they appear to be a couple perfectly in control. But Bill’s health and their relationship are crumbling under the stress.
The second episode was call Dancing Around the Truth.
Wendy and Dan have been married less than a year and have a six-month-old daughter. They also have significant debt, loans from family that have ruined relationships, and a baby who needs special formula that costs $200 a week. Dan is working all the time to make ends meet, and Wendy, a dance instructor, is contributing a little cash by teaching. But their tiny income, disgruntled creditors and inability to meet their bills could be the curtain call on their relationship.
The first question one may have is why are these people going on TV and exposing their financial woes to the world? For money of course. Gail Vaz-Oxlade gives the finacially troubled couple tasks to do each week over a four week period. After the 4 weeks, if the couple does what is asked, they get $5,000. If they don’t do the required task, money is deducted from the $5,000. The task includes stuff like putting their credit cards in water and freezing it, making a budget, finding ways to make more money and cut back expenses.
The show is a real eye opener for me. I’ve met people who have gotten into financial trouble before, but never to the extent that they feature on the show. If the show is available in your area, it’s worth checking out. It’s Canadian based so it may not be available in the US market.