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EPISODE INFO

Plan

EPISODE 30 - A Financial Hangover (Valerie and Jay)

Valerie and Jason's wedding, money losing income property, and 'spend now, think later' attitude, was doing nothing to pay down their almost $54,000 debt. Alison gave them a tough plan aimed at getting their bills paid and debt reduced.

Alison's recommendations:

  • Settle up. They were hoping the wedding would pay for itself with cash gifts, and it was time for them to tally the take.
  • Brush up on basic banking. Jason needed his own bank account plus a debt repayment strategy.
  • Cooperate and collaborate on payments. They had two different ideas about how and when to pay their bills.
  • Evict their tenants and move in themselves. Their so-called income property was actually costing them money and they couldn't afford to carry it anymore.