One of our assignments on our last school day before the holidays was watching an episode of Till Debt Do Us Part and taking some notes.
The story was about a couple (Kelly & Dawn) that were faced with some financial problems including too little income, overextending and the most important problem the risk of losing their dream home. Then Gail Vaz-Oxlade (Canadian financial writer and television personality) showed up and tried to help them.
Gail estimated their debt, aside from their mortgage they was owed about $63,000. They were also overspending by about $6,500 in a month. To solving their problems, Gail provided some solutions. They had to stop using their Credit Cards, make more money and stop wasting money. They also had limitations for spending money on food, transportation, entertainment, clothing and gifts and pet food.
At the end of episode, they couldn't get out of their debt, but I'm sure in the future they will be able to manage their financial problems more better than before.
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