Maxed
Out

Tuesdays at 8pm E/P

EPISODE INFO

Plan

EPISODE 33 - A Financial Wake-up Call (Karen and Caitlin)

Karen’s financial track record was lousy and Caitlin’s college education and financial future were on the line. I gave them a plan for breaking old habits and learning new ones.

Alison's recommendations:

  • Make drastic cuts in spending – slashing everything - from cell phone bills to bank fees.
  • Use vacation savings to pay down debt
  • Transfer the high interest credit card balance to one with a lower interest rate
  • Prepare and eat breakfasts at home, pack lunches and plan two to three dinners a week to eat at home together
  • Start a college fund - Caitlin to deposit half of her paycheque and Karen to deposit the entire monthly child support cheques into a savings account.