Oprah's Debt Diet

Keep telling your clients about what you have learned Billi.  Credit Card debt is a horrible habit that many many people have.  You can make a difference to the people you care about!

Credit card debt is the worst the amount they can charge is criminal.

Been there, done that, finished with that, would never recommend that.  Once you dig yourself out, cover that hole with concrete, and keep your shredder available as the solicitation comes in the mail.  Great post.

When she first started her show in Chicago, she gave 10 families $100,000 to better themselves and after a year, she had them BACK on her show and all but 1 family did NOTHING with their $$$ except buy bling and cel phones * 1 family made out of the urban area but were struggling with finances in a home they could not afford.

This is why she went to South Africa to build her school - where her $$$ would be appreciated.  Several of the beneficiaries of EXTREME HOME MAKEOVERs have been foreclosed on because they refinanced with no income and lost their MADEOVER homes....credit counseling should begin at the family dinner table with a home-cooked meal!!!

Billi,

Debt is often thought of as the American way! Not only is the average individual American way over their head in debt but the country as a nation is too. Debt management is not something that is taught on a basic level. The average European doesn't have nearly as much personal debt as the average American. I wonder why that is...........

Maybe they don't feel the need to keep up with the Jones and pretend to be something they are not like many Americans do.

:) 

I was raised by Depression Era parents and I can tell you that was the best education one can get. I passed that education onto my kids.  My daughter can make a dollar scream and my son has driven the same car he bought in high school for 4000, for the last 7 years. Neither kid has a credit card although they both have credit history and good credit. 

I always wonder how folks can get that far out of control.  But then every time I show a short sale home I go right to the garage to see what kind of toys are in there.  Usually I find new vehicles, new 4 wheelers, new ski do's, and a shiny trailer.  Then I look in the family room for that flat screen.  It all tells the story.......very few short sales are truly hardship stories.

Thanks for sharing - I used to watch Oprah about every day ---

I had the opportunity to see it as well and it is amazing to me that 2 sibilings raised in the same family by the same parents could be so different when it comes to debt management.

shelton

Billi your post made me laugh and not about debt LOL  I was tackling the treadmill myself yesterday!  My husband is a loan officers and talks to clients everyday about debt when it comes to getting a home loan.  He tells them about credit repair program and items of things to do then come back to see him in 30-60 days.  I think the worst thing is giving a $5,000 credit card to an 18 year old student, the banks should be shot!  My 24 year old daughter has some credit boo boos because she made some dumb mistakes.  Guess having a Mother who shops is a bad influence!

This is so sad but true in our country.  I hate credit cards and only use a debit card from my bank.  Keeps me honest.

I agree with Paula. Try to only use my debit card. Good post though.