Maxed
Out

Tuesdays at 8pm E/P

Profile

EPISODE 41 - FINANCIAL INTERVENTION (Jessica and Greg)

NAME: Jessica and Greg
AGES: 28 and 38
ANNUAL INCOME: $120,000
DEBT ACCUMULATED: $55,100

GOAL: A home in the country

Jessica and Greg have been there done that and they’re on the verge of doing it all again – bankruptcy. With over $55,000 of debt their dream of home ownership was dissolving in financial chaos and relationship conflict.

Alison's Plan

  • First, they had to Pinch the Pennies - I stripped out $1,050 from their monthly spending.
  • Then, I told them to Target their Debt - I urged them to ask their parents for a three-month reprieve from paying family debt so they could catch up on high interest loan payments.
  • And finally, they had to Can the Cars - Greg’s hot rod hobby and Jessica’s SUV drove over any hope these two had of eliminating debt and becoming homeowners.

OUTCOME

With the help of home perked coffee, Jessica and Greg slashed their spending, bombarded their high interest debt and are on the road to saying bye-bye to bad habits and extra cars. Household savings tally up to more than $1,400. If they stick to the plan and their monthly budget, in five years time they will have the home of their dreams.

Back to Top