Oprah's Debt Diet
Posted on February 25, 2006 by Him and tagged debt, relationship
So She and I spent our Friday night NOT gallivanting with our other friends in their 20's at the trendiest bars in town, but instead watching the Oprah repeat after Nightline. At least I went to Happy Hour earlier in the night.
I've never really watched Oprah, but I can tell you that JLP is absolutely correct -- there was about 30 minutes of content and 30 minutes of commercials. Like us, if you haven't seen the first episode of the series, you can easily get caught up on Oprah's website.
The first half of the show focused on the Bradleys.
I have a few words for Steven Bradley: GROW SOME BALLS.
It is mismatched marriages like that which really inspires us to write this blog. While the blame seems to be put mostly on Lisa Bradley, Steven is equally at fault for letting those bills pile up. He had to have seen the pile of bills in the kitchen. It's not like they were hidden or anything. While Lisa is actively destroying their finances and their marriage, Steven's apathy and lack of action is also contributing to their decline. Lisa exerts plenty of control in this relationship, but it is very misguided.
Also, it seems as if Steven is the only one working in their family. Aside from the things that Jean Chatzky suggests to cut down on their spending, why doesn't Lisa get a job? It would serve two purposes: add more income to relieve debt, and get her out of the house where she probably has nothing to do but concentrate on shopping.
On a serious note, I think that the thing they need is not just debt reduction, but also personal and couples counseling. They both have serious issues that are magnified when they act out when dealing with money.
The other couple, the Widlunds, weren't as scandalous, so I won't bore you with my amateur analysis.
We are in more debt than the Widlunds, and make around the same amount of money. About a year ago we decided to change things for the better. I think this show hit a sore spot with the both of us, because if we didn't change, it could have easily been us on that show.
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re: steven bradley - no kidding! his wife forged his signature to buy another car so they have 5 cars and $1100/month in payments.
chelee,
I think the FAs realize there is only so much they can impose and that the families have to WANT to make changes. The Widlunds were told have the daughter take over her car payments and/or get rid of the car, but the mother refused. Then, the daughter parks where it was towed and the YOUNGER sister has to bail her out.
My fiance and I watched this on Friday night as well! The thing that shocks me the most is how couples are almost scared to even talk to each other about finances - so it just becomes this monster that keeps getting swept under the rug. I think that the deception (forging signatures) and lack of trust that ensues is more shocking than the amount of debt these couples are in! No wonder so many marriages fail because of financial problems...
veni | Mar 3, 2006
hello
I have the keeping up with the jones trouble.
I work with the top 10% of wealth in the city.
even oprha has been a customer.She will not remember me. I was with Fred Segal for 15 yrs, and out of the about 300 employees the 15yrs I was there we had about 7 black employees so maybe she will remember me.
A lot of the friendships I have made have come from my client base.
I pay my own way but do a very bad job of keeping track with my income.
I always lose track of the $2 charge when useing my atm and I then forget the $23 overdraft charge so after that ever use of the atm card cost me $23 and finaly I get a letter saying my account has been frozen. And the cycle starts again. Now I am to far behind to pay for the things I thought I had money to buy so they go on my credit.
If I could get help with cleaning up my credit and keeping track of my income at 46yrs maybe I can try to start and build some security for my very near furture.
I can't even get a car. And I know in two yrs, the houseing will be in my favor so then I can have a home.
Even a one bed room condo would be great. But now I feel invisible they look at my credit and basically say go away. The older I get the smaller I feel. I have always been out going but I am less and less myself everyday. it's like quicksand I can't get out.
sinking
Nonjudgmental | Mar 11, 2007
Hi
I know and have worked with Lisa Bradley (for the author of this site - yes she does have a job and was a college professor for quite a while). She is not a monster as made out to be in this and several other websites. Lisa in fact is a wonderful woman who, like so many others in our society, is caught up in our consumption economy. I truly believe that spending can become an addiction, and it requires intervention just like any other addiction does. I was shocked to learn that she had been on the show. You never ever would have guessed what was happening. I am proud of her and Steven for going on the show & making these changes.
Chelee | Feb 25, 2006
I'm not an Oprah viewer but watched this episode because the topic interested me.
The one thing I was shocked about was the lack of intensity the financial advisors/experts were willing to make these families go through. For example, the first family should sell their home and downsize to a more modest home so they can free up $ to get out of debt. Same with their cars, they need to get something used and reliable.
I also got the impression that this was a "debt-vacation". They will have to cut back on some things but basically live pretty comfortably. And when their debt is all gone.....
I'm not for living an austere existence, but when they showed one woman using only disposible dishes/utensils/bowls because she didn't "Like" to do dishes, my jaw dropped.
I agree they all should have therapy of one sort or another as well. It's one thing to modify behavior and another to modify spending.
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