I'm a mortgage broker in Australia, these sorts of people are everywhere. I see less than 1 in 20 have a budget, less than 1 in 30 that get their living expenses anywhere near right to what they actually spend. I offer budgeting services FREE of charge. Barely any take me up on it. It's amazing people just put it in the too hard basket. I had a young married couple, no kids and doing their refinance (I did the original loan too) on over $200k/year income. They overdrafted their account three times in the past month... I mean... HOW?
@@lukeclarke267 My wifes from Aus. We live in the US. Her friend there has an adjustable rate mortgage. I've heard they do interest only loans there too. How common are the adjustable rate and do you see an impending meltdown of the Aus economy due to a housing crash? I know there hasn't been a down turn there in 30 years but it seems like everyone was so incredibly over leveraged.
@@manthing1467 In Australia variable rates are the common, fixed rates are very high and generally only 2-3 years are decent. I foresee interest rates going up another ~1.0%, but I don't think we'll see a crash, more of a correction. For some reason people thought interest rates would stay at historic or emergency lows forever.
I don’t remember when Gail’s show first aired but through her lessons and tough love episodes I am now mortgage free debt free and now have investments!!! Thanks Gail ❤️
I am Indonesian. Born 89. Recently discovered this show a month ago.. woww you are blessed with this show in such a long time ago... We dont have good money show like this ! I binge watching every episode and I am now succesfully reduce my monthly expense.! Thanks gailll
I find it quite clever. They put music to the word that goes round and round in our heads, nonstop. At least for those of us like the participants on this show!
I love that gail immediately sees that it is messed up that they both work full time and the husband only does %20 of the chores . Then he says : i wish my kids did chores !!! set an example durr
In a family I know the children do not have chores, they have contributions (to the family household). They do get $ for additional tasks around the house, yard, with pets.
This show is only 10-15 years old. I can’t wrap around my head how cheap the house back then in Canada relative to family income. Their family income is 105k, and their house was like 150k. Fast forward 2022, is a totally different scenario. This house seems like 3 br, 2 bath, and 2 garage. You cannot buy a house like that for 150k even in rural Canada.
In this case, relative to their income. My husband and I certainly weren’t making $100,000 a year 10-15 years ago. We barely made half that. And we still don’t make that much. But, yes, house prices (and rent) have gone up too much.
@@lisamarielund6292 Wow! I went to CSUF, had no idea houses cost that much. I'm from Riverside and prices there have gone up considerably. Moved to Austin and it is getting extremely expensive here from all of us Californians moving here lol.
I have a coworker that keeps putting everything into his mortgage, multiple cars, vacations, etc. And he claims these things are now "paid off" because he paid them with a refi. Unbelieveable. He'll be paying that mortgage till he dies.
Yikes! I caused a bankruptcy early in our marriage. The good news is that I learned from it, and our first bankruptcy was our last one. We didn't buy a home until 46 though. The good news on that is that I am two months ahead on that.
@@allisonwillcox9393 yeah, sounds like financially uneducated. wealthy people use the refi as a down payment for a second place, and rent it out, and generate another income stream; then they use the income stream to buy their toys
@@allisonwillcox9393 I have a friend that inherited a house 25 yrs ago. The house was worth 200K back then. They bought out the brother for 100 K , so owed 100K for mortgage. Fast forward 2024 and they owe 400K. They smoke tons of weed. The house never completed renovation-wise. They are having a lot of trouble financially and the bank suggested that they sell. Too bad Gail has retired, although I don't think they would take her advice, lol.
I've been repainting, drywall repair, and laying tile after my husband died. I've had experience in these fields, and know how to do them correctly. I gave my main bathroom a makeover---tiled floors, walls, and ceiling in black and white checkerboard. Took me 3 weeks (I work a 10 hour shift M-F at my job), and even installed a new black toilet by myself (I always wanted one). I'm happy now that in my home all carpet has been replaced with tile that I did myself, and looks great. Yep, I do use spacers and cut it to be sure it all fit nicely. I'm proud of what I'm doing, and it surely is a lot cheaper to DIY, and pay for the materials. And it's fun to do if you know how. (Jan Griffiths).
What a fantastic episode with a 180 degree turnaround! The two children have learned a great deal from this experience, and will have years to build their wealth.
Hmmm....maybe I should make a show like this. I'm very analytical, though. I probably would've gotten I to the weeds about how it was actually smart to roll the auto debt into the mortgage, but not if the rate adjusted higher. And did opportunity cost analyses and such.
Years ago I also went on strike. Days later the kid asks where his clean baseball pants are. Answer: wherever you put them after you washed them. Daughter wanted a ride. Answer: I'm not a taxi service, what did you do to locate a ride or what else could you do, like ride a bike. Husband: what's for dinner. Answer: whatever you took out of the freezer this morning. Husband mentioned dog hair on the floor. Answer: the mop is in the hallway closet. At the end of the week, everyone had appreciation for the time and effort to manage a home. My grown sons can clean a kitchen, mop a floor, do laundry, balance a budget, scrub a bathroom, cook, make repairs, and work as a team with their wives.
@@cjhoward409 the income is decent now, and the home cost was cheap in the early 2000s. I mean you gotta remember before 2021/2022 the US had 2000s wages and 2000s home prices and 2000s costs of living. The dollar store still existed, 5$ foot longs existed for like 20 years, a home in 2005 was let’s say 230k, it crashed to like 170k by 2012 and by the end of the trump admin it was like 230-250k again. Wages were stagnant until the end of the trump presidency where they went up 8 grand from 2017-2019 taking the average wage from the 50k range to the 60k range for Americans but the inflation was still very low before Joe Biden. So wages and home prices were comparable to today Tbh
This family had the best attitude that I have seen so far. It's funny watching this for the first time years later and so little has changed beyond the fashion and the more extreme numbers we have now.
When I went to work hubby agreed to do half cooking and household chores. That lasted about 2 weeks. Then it was all me. We worked same place about 10 hours a day. But I came home cooked, cleaned, laundry. He was bad about charging on credit cards. I’d work overtime and save so could go on vacation wish was a lot of time camping He passed after we were together 40 years. I now have money and I paid off house.
I am watching this in the UK and am shocked at how many credit cards people have. In the UK you cannot obtain copious amounts of credit without proof that you can afford to pay it back. Unheard of to add car credit onto a mortgage
I think of my parents who didn’t want to spend more then 100k on their home in 2000 even though their dream home in a nicer area was like 150k and that was just too scary for them to even consider. If only they knew 😢
This was such a good episode! This budgeting should be taught in schools! It’s sad to think that kids have no role model other than their parents who are highly in debt and clueless
When my old car was costing a lot in maintenance a few years in a row, I worked out the real cost by adding the car cost onto the mortgage and working out how much interest on it for the ten years till the mortgage was paid out. I don't understand why people don't think to do this when buying anything. I had a friend who told me proudly they'd bought a new car for cash "oh, you've paid off your mortgage then"? I said. "No" she said. In reality, she was paying the car's value at the interest rate of the mortgage, year after year until the mortgage was gone. She didn't need a new car in my view - hers was 5 years old. I kept mine for 19 years then someone ran into me and wrote it off.
You sound like us. (Except for the accident part.) Our only car is also 19 years old, and every time we get in we tell her what a good girl she is and how much we love her. We are hoping for another 3-5 years out of her before we consign her to the big slag heap in the sky.
@MoreMedication 😀 I've had so much social pressure with that original car to update - & people looking down their noses at me - but I was the one paying down my mortgage, not them. I replaced it with a new car- small, basic but does the job & still looks new after 17 years!
Say No to me to do your chores, you'll learn what discipline means. Our daughter started doing chores ar 5 years old. She got a little money and by the time she was old enough to drive, she had the money to buy a good used car and pay her insurance because she had a job at 16. And the same goes with our grandsons. They were expected to do chores.
Gail gets very sharp when they don’t do as she asks! This woman is an expert,listen to what she says. Do what she advises ,don’t let her waste her time!!!She could be helping someone else !
You would think that couples, representing two minds, two brains, two salaries, two points of input, would be in better control of their finances, but they're not.
@Diane: when we were early in our marriage we would go shopping together and spend money like two drunken sailors. When we would buy stuff separately we questioned each other about the cost, necessity, etc. We decided to discuss possible needs and wants BEFORE going shopping, so we wouldn't always spend like two kids in a candy store.
I kinda hate these ppl for being so careless when they were in such amazing circumstances! They started with a 130k mortgage, making 105k annually. We can only dream of such ratios today 😩
This show updated would be great. I guess one common thread with today is that many people budget poorly. The scary thing is that their income then is probably more than some households make today. Their townhome is $230,000 but today would be probably $500,000 to $600,000 in my city of Ottawa. Average single home prices are north of $700,000. Inflation is high etc… At least I could see this couple still together as their seems to be a warmth and respect that many couples are lacking.
Here's an AWESOME alternative to sending kids to camp and it's free. Send your kid to help with chores at a family member's home and have them send their kid to yours. Each of you teach them valuable skills like efficient and thorough cleaning, proper laundry skills, cooking and managing money. They should learn money management by observing the family member's smart financial habits. This will be a priceless education!
I was just thinking I wanted to see her help the working class poor and voila!! I know some people think they make $105000 a year but that is $26000 per person so not a lot of money. Good job. This one helps me as I am retired and live on $18,000 a year. Haven't been able to save but I am going to use the jars and see what happens.
This is not a poor family, and certainly even less in the early 2000's,when this was filmed. Where I am from, in 2022, making 25000 euros a year is considered middle class.
They are solidly middle class. Even separately, they would not fall under the poverty line or even be close to it. Their original mortgage amount was a reasonable amount. They just got into the mindset that refinancing to pay for a lifestyle above their means was worth it. You can't have an upper middle class lifestyle on a lower middle class budget, but you still aren't poor.
Man, we just bought a house and there’s definitely stuff I want to upgrade or fix, but we have a plan for it. It boggles my mind when people get loans- maybe some of the stuff was urgent… Also, if all my husband made was hotdogs, then I’m eating hotdogs 😅
Kids the ages those kids are and having no chores is disgraceful. The kids should be doing the dishes (boys too, not just girls), yard work (girls too, not just boys), keeping their rooms clean, doing their own laundry, and taking out trash. Cleaning the bathrooms as well. When I was a kid, mu mom worked all week. I did my own laundry, then did my parents' laundry. I kept my room clean. I cleaned the bathrooms, and took out the trash. I got a very generous allowance, but I had to work for it too. Not only that, but in summer, I mowed the yards, raked leaves in the fall, and shoveled snow in winter. I thought of my chores as a game, and actually had fun doing them. (Jan Griffiths).
Renovations have to be done very carefully. I tend to think "live with it" unless something is really awful (e.g. a bed is broken or the oven doesn't heat up)
I blame our education system for part of this. In high school, I was required to take classes like Chemistry. It would have been much better to educate on personal finance. Thankfully, I found Dave Ramsey early and control my expenses. I just updated my kitchen but saved up to do it. I am trying not to touch my home equity with the plan of paying it off ten years before I retire.
My parents taught me finances the beginning of high school. I also got the finance class 2 years later in hs. Yes, parents should be showing their kids. Many years ago I was a foster parent. I also helped those kids learn all about finance and budgeting. 😀
@@sct4040 Honestly, because many parents don't know it. High School should provide a fundamental education to function in society. It is great if parents help but not everyone has the "perfect family situation". If parents are in huge credit card debt, do you think they will be good to teach their kid how to budget?
@@cjhoward409 Great that it was taught to you from two areas. Money management is key for adults and a large reason why people get divorced. It needs to be stressed.
In alberta they do teach finance its called CALM. Albertans still find themselves in this mess. Why? Because money is 99% discipline and 1% education. Also parents should teach this to their kids.
My parents never paid for summer camps! I went many summers! These ppl are like my parents ended up, broke and depending on my brother and I. They're so entitled they genuinely don't care about anyone comfort except themselves.
I started my kids doing chores at 5 years old and they get paid a dollar for a chore. They know that they have to work for their money and are always asking for more chores to do. :)
Oh wow, you got your mortgage payment down! - no it's still $1747 I just wrote it as $1700?? Did she really think Gail wouldn't notice? Surely she's seen the show!
They need to bring back this show. It’s 2022, and it’s more relevant than ever.
Just seeing this for the first time but very relevant to most people as they are horrible with money.
I'm a mortgage broker in Australia, these sorts of people are everywhere. I see less than 1 in 20 have a budget, less than 1 in 30 that get their living expenses anywhere near right to what they actually spend.
I offer budgeting services FREE of charge. Barely any take me up on it. It's amazing people just put it in the too hard basket.
I had a young married couple, no kids and doing their refinance (I did the original loan too) on over $200k/year income. They overdrafted their account three times in the past month... I mean... HOW?
@@lukeclarke267 My wifes from Aus. We live in the US. Her friend there has an adjustable rate mortgage. I've heard they do interest only loans there too. How common are the adjustable rate and do you see an impending meltdown of the Aus economy due to a housing crash? I know there hasn't been a down turn there in 30 years but it seems like everyone was so incredibly over leveraged.
@@manthing1467 In Australia variable rates are the common, fixed rates are very high and generally only 2-3 years are decent.
I foresee interest rates going up another ~1.0%, but I don't think we'll see a crash, more of a correction.
For some reason people thought interest rates would stay at historic or emergency lows forever.
@@lukeclarke267 3-4% is very low historically. I just dont see how housing prices can go much higher over there.
I don’t remember when Gail’s show first aired but through her lessons and tough love episodes I am now mortgage free debt free and now have investments!!! Thanks Gail ❤️
2005 I believe
Congratulations, that’s so inspiring!! 🥳🙌🏾
I am Indonesian. Born 89. Recently discovered this show a month ago.. woww you are blessed with this show in such a long time ago... We dont have good money show like this ! I binge watching every episode and I am now succesfully reduce my monthly expense.! Thanks gailll
That’s awesome!
Amazing 😱
The intro jingle is so funny. Clearly whoever was in charge of writing it forgot until about 15 minutes before the deadline.
I find it quite clever. They put music to the word that goes round and round in our heads, nonstop. At least for those of us like the participants on this show!
I believe it's a takeoff on the 1973 song by the O'Jays called "For the Love of Money".
It makes me think of Cabaret.
@@freedomartwork6950 you’re right!
I love that they are showing the kids money management skills.
Unless it was Birthday or Xmas we only received stuff we work for in some way. Thanks late Mum and Dad. 🥰🦘
Awesome family. Did not complain or made excuses. Took the challenge and accomplished it as a family.
At Last a family who actually listened and in process saved themselves
I love that gail immediately sees that it is messed up that they both work full time and the husband only does %20 of the chores . Then he says : i wish my kids did chores !!! set an example durr
Kids do chores.. parents work 😊
In fairness, he earns more and has a more physically demanding job.
He does earn 25% more money than her so the least she can do is the chores 🤷♀️
Yes - he has a penis and therefore earns more. That is so fair in 2024.
In a family I know the children do not have chores, they have contributions (to the family household). They do get $ for additional tasks around the house, yard, with pets.
This show is only 10-15 years old. I can’t wrap around my head how cheap the house back then in Canada relative to family income. Their family income is 105k, and their house was like 150k. Fast forward 2022, is a totally different scenario. This house seems like 3 br, 2 bath, and 2 garage. You cannot buy a house like that for 150k even in rural Canada.
In this case, relative to their income. My husband and I certainly weren’t making $100,000 a year 10-15 years ago. We barely made half that. And we still don’t make that much. But, yes, house prices (and rent) have gone up too much.
Try buying a house in Orange County in Southern California. The average price is 1.1 million. Average price is $789,000 for the state of California.
@@lisamarielund6292 Wow! I went to CSUF, had no idea houses cost that much. I'm from Riverside and prices there have gone up considerably. Moved to Austin and it is getting extremely expensive here from all of us Californians moving here lol.
@@darakristi $535.000 will get you a dumpy 2 bed 2 bath 994 Sq foot condo in cruddy Garden Grove.
Australia is the same. Average wage is 70-80K. Average house prices are 500k somewhere cheap.
I have a coworker that keeps putting everything into his mortgage, multiple cars, vacations, etc. And he claims these things are now "paid off" because he paid them with a refi. Unbelieveable. He'll be paying that mortgage till he dies.
Yikes! I caused a bankruptcy early in our marriage. The good news is that I learned from it, and our first bankruptcy was our last one. We didn't buy a home until 46 though. The good news on that is that I am two months ahead on that.
Literally what my friend is doing, they can’t afford their mortgage so they refinance to pay it… it’s a bad cycle
@@allisonwillcox9393 yeah, sounds like financially uneducated. wealthy people use the refi as a down payment for a second place, and rent it out, and generate another income stream; then they use the income stream to buy their toys
@@allisonwillcox9393 I have a friend that inherited a house 25 yrs ago. The house was worth 200K back then. They bought out the brother for 100 K , so owed 100K for mortgage. Fast forward 2024 and they owe 400K. They smoke tons of weed. The house never completed renovation-wise. They are having a lot of trouble financially and the bank suggested that they sell. Too bad Gail has retired, although I don't think they would take her advice, lol.
The daughter is awesome whatever you tell her to do she does it correctly and she just keeps it moving that's a great Habit to have🤗
Yeah!! And the son actually saves money
I watch this show every time I need to get my money together
I've been repainting, drywall repair, and laying tile after my husband died. I've had experience in these fields, and know how to do them correctly. I gave my main bathroom a makeover---tiled floors, walls, and ceiling in black and white checkerboard. Took me 3 weeks (I work a 10 hour shift M-F at my job), and even installed a new black toilet by myself (I always wanted one). I'm happy now that in my home all carpet has been replaced with tile that I did myself, and looks great. Yep, I do use spacers and cut it to be sure it all fit nicely. I'm proud of what I'm doing, and it surely is a lot cheaper to DIY, and pay for the materials. And it's fun to do if you know how. (Jan Griffiths).
Good for you, well done and saved yourself a small fortune.
You are an inspiration. Maybe I can try to learn to cut tile and do it myself.
What a fantastic episode with a 180 degree turnaround! The two children have learned a great deal from this experience, and will have years to build their wealth.
I wish they would bring this show back... one thing I love about this show is that Gail not only addresses $ issues but family dynamics as well.
Hmmm....maybe I should make a show like this. I'm very analytical, though. I probably would've gotten I to the weeds about how it was actually smart to roll the auto debt into the mortgage, but not if the rate adjusted higher. And did opportunity cost analyses and such.
Years ago I also went on strike. Days later the kid asks where his clean baseball pants are. Answer: wherever you put them after you washed them.
Daughter wanted a ride. Answer: I'm not a taxi service, what did you do to locate a ride or what else could you do, like ride a bike. Husband: what's
for dinner. Answer: whatever you took out of the freezer this morning. Husband mentioned dog hair on the floor. Answer: the mop is in the hallway
closet. At the end of the week, everyone had appreciation for the time and effort to manage a home. My grown sons can clean a kitchen, mop a floor,
do laundry, balance a budget, scrub a bathroom, cook, make repairs, and work as a team with their wives.
So you're just a miserable banshee? Got it.
They paid just 154k for that house!!?!
A mortgage of $130k with an income of $105k. My god!
We had the same house price and income except that we paid off the mortgage in full in 10 years and we cash flowed the 80k in renovations.
I think that was almost 20 years ago. This show is from the early 2000’s
That’s very reasonable. VERY reasonable. The refinancing, however, is not.
@@shilarakesh
But the income was good for back in the early 2,000’s 👍🏻
@@cjhoward409 the income is decent now, and the home cost was cheap in the early 2000s. I mean you gotta remember before 2021/2022 the US had 2000s wages and 2000s home prices and 2000s costs of living. The dollar store still existed, 5$ foot longs existed for like 20 years, a home in 2005 was let’s say 230k, it crashed to like 170k by 2012 and by the end of the trump admin it was like 230-250k again. Wages were stagnant until the end of the trump presidency where they went up 8 grand from 2017-2019 taking the average wage from the 50k range to the 60k range for Americans but the inflation was still very low before Joe Biden. So wages and home prices were comparable to today Tbh
This family had the best attitude that I have seen so far. It's funny watching this for the first time years later and so little has changed beyond the fashion and the more extreme numbers we have now.
When I went to work hubby agreed to do half cooking and household chores. That lasted about 2 weeks. Then it was all me. We worked same place about 10 hours a day. But I came home cooked, cleaned, laundry. He was bad about charging on credit cards. I’d work overtime and save so could go on vacation wish was a lot of time camping He passed after we were together 40 years. I now have money and I paid off house.
"I look forward to the future now" Priceless, worth so much more than all those THINGS!
What a lovely family and beautiful kids
Bring back this show ☺️ it's needed 🙂
Gail was finished so it was her idea to leave …
We need this show back!!!!
I am watching this in the UK and am shocked at how many credit cards people have. In the UK you cannot obtain copious amounts of credit without proof that you can afford to pay it back. Unheard of to add car credit onto a mortgage
The kids should've joined dad at the cooking course 😁
The good old days when you could get a house in Toronto for $150,000. That house has to be worth 1.5 million by now
You’re right. That’s what I think when I watch these episodes…. They’re all housing millionaires if they hung on to these homes
I think of my parents who didn’t want to spend more then 100k on their home in 2000 even though their dream home in a nicer area was like 150k and that was just too scary for them to even consider. If only they knew 😢
Good for this family. Looking at bills can make you feel small. I hope they stuck to it and are doing well.
Some people don't LOOK at the bills, that's the problem.
The kids will really benefit from this knowledge if they keep it up. Wish I had this when I was young.
I love that she involves the kids so they can learn a few tips and also SEE how the family is in financial trouble by doing what they have been.
I love seeing families come together 🫂
How sad is it to hear a parent, a father no less, to say I wish my kids would do chores !! Who’s the adult here guy ??
Please bring this show back!!!!!🍁🇨🇦
Very well done, Gale. I miss watching this program on TV. This family did really well. I hope they stick with it.
I remember this show. I really enjoyed it back then.
This was such a good episode! This budgeting should be taught in schools! It’s sad to think that kids have no role model other than their parents who are highly in debt and clueless
That is so sweet . Thanks Gail I did learn alot from this show . Please keep it .
Omg she just called them dumb 🤣
I love her frankness
When my old car was costing a lot in maintenance a few years in a row, I worked out the real cost by adding the car cost onto the mortgage and working out how much interest on it for the ten years till the mortgage was paid out. I don't understand why people don't think to do this when buying anything.
I had a friend who told me proudly they'd bought a new car for cash "oh, you've paid off your mortgage then"? I said. "No" she said. In reality, she was paying the car's value at the interest rate of the mortgage, year after year until the mortgage was gone.
She didn't need a new car in my view - hers was 5 years old. I kept mine for 19 years then someone ran into me and wrote it off.
You sound like us. (Except for the accident part.) Our only car is also 19 years old, and every time we get in we tell her what a good girl she is and how much we love her. We are hoping for another 3-5 years out of her before we consign her to the big slag heap in the sky.
@MoreMedication 😀 I've had so much social pressure with that original car to update - & people looking down their noses at me - but I was the one paying down my mortgage, not them.
I replaced it with a new car- small, basic but does the job & still looks new after 17 years!
Say No to me to do your chores, you'll learn what discipline means. Our daughter started doing chores ar 5 years old. She got a little money and by the time she was old enough to drive, she had the money to buy a good used car and pay her insurance because she had a job at 16. And the same goes with our grandsons. They were expected to do chores.
Gail gets very sharp when they don’t do as she asks! This woman is an expert,listen to what she says. Do what she advises ,don’t let her waste her time!!!She could be helping someone else !
Love her no fear of confrontation
The family did a GREAT job on those kitchen cabinets!
What a gorgeous family! I hope they stick to budgeting!!
Absolutely. It is very much needed
I just found the show on UA-cam is it still on this was the best family I’ve watched so far they really wanted it
No it’s not still on but there’s like five seasons worth on UA-cam :)
I love the ending of this episode
I love the blue outfit from the beginning. Beautiful! Ms Vaz Oxlade has a gift for speaking the truth.
The outfit was so great!!!
You would think that couples, representing two minds, two brains, two salaries, two points of input, would be in better control of their finances, but they're not.
@Diane: when we were early in our marriage we would go shopping together and spend money like two drunken sailors. When we would buy
stuff separately we questioned each other about the cost, necessity, etc. We decided to discuss possible needs and wants BEFORE going
shopping, so we wouldn't always spend like two kids in a candy store.
It's now 2024, and we need Gail!!
Looks like the mother is trying to be her daughter's best friend
That's not going to work, and if it works she will forever be dependent on her mom.
Great couple and family!
Awesome family
The fact that they are shameless about borrowing money from their kid is insane!
Right, “our son is our banker” 😂
They need to bring back the houses that were priced at $150,000.
I kinda hate these ppl for being so careless when they were in such amazing circumstances! They started with a 130k mortgage, making 105k annually. We can only dream of such ratios today 😩
Can you imagine that ratio today? 😭😭🤯
The renovations look like they were basically cosmetic, not structural. Not liking your cabinets is not a good reason to remortgage your house!
We need this program back on.
This episode aired in 2009. I wish someone would do a show following up on all of the couples (all 9 seasons).
What beautiful kids
Wonder how they are today
Gail don't play!!
Unbelievable. Good Luck in your futures.
That was cool with the grill. Good show.
This show updated would be great. I guess one common thread with today is that many people budget poorly. The scary thing is that their income then is probably more than some households make today. Their townhome is $230,000 but today would be probably $500,000 to $600,000 in my city of Ottawa. Average single home prices are north of $700,000. Inflation is high etc… At least I could see this couple still together as their seems to be a warmth and respect that many couples are lacking.
Here's an AWESOME alternative to sending kids to camp and it's free. Send your kid to help with chores at a family member's home and have them send their kid to yours. Each of you teach them valuable skills like efficient and thorough cleaning, proper laundry skills, cooking and managing money. They should learn money management by observing the family member's smart financial habits. This will be a priceless education!
My mother makes a list. And she pays extraordinary wages to the kids. (Please don’t apply)
All camps usually have scholarships. Find those ones!
Already see the problem...2 cars and fancy camps...working on the house that looks fine and having kids.
I have our budget posted on our wall, along with our envelopes for cash & our notebook to write everything down. The numbers don’t lie!
I totally agree with you show is the best please bring back I love Gal ❤
I was just thinking I wanted to see her help the working class poor and voila!! I know some people think they make $105000 a year but that is $26000 per person so not a lot of money. Good job. This one helps me as I am retired and live on $18,000 a year. Haven't been able to save but I am going to use the jars and see what happens.
This is not a poor family, and certainly even less in the early 2000's,when this was filmed. Where I am from, in 2022, making 25000 euros a year is considered middle class.
They are solidly middle class. Even separately, they would not fall under the poverty line or even be close to it. Their original mortgage amount was a reasonable amount. They just got into the mindset that refinancing to pay for a lifestyle above their means was worth it. You can't have an upper middle class lifestyle on a lower middle class budget, but you still aren't poor.
Man, we just bought a house and there’s definitely stuff I want to upgrade or fix, but we have a plan for it. It boggles my mind when people get loans- maybe some of the stuff was urgent…
Also, if all my husband made was hotdogs, then I’m eating hotdogs 😅
We did not have an allowance growing up. My father said you live here, right? Do it! and we did. Today kids are brats.
Live like you are poor even if you aren't. I buy things second hand even though can easily afford new stuff. Money is precious and easily spent.
Gail made me realize that the refi I did five years ago, only moved my debt around. At least it wasn't more than the original price.
These two are doomed. Mortgage not paid off until age 70, and then $250k saved for retirement? Yeesh.
They can sell the house once the kids are gone, that money goes into retirement. A couple can easily live in a 1 bedroom condo.
I wud sell
they both probably have pension plans at work.
@@machinesnmetalUnless they are going to eat the house, they aren’t fine
What a nice family 😍
Gail is the best. Who redoes their kitchen and doesn't do the cupboards??? 🤣 Tell em Gail!
We need this show 2023
Good job
How can people be so unaware?
I really like Gayle 😊
Can you even imagine a decent place to live for $130,000????? They didn’t know how fortunate they were - and that they nearly ****** it all away.
Gail looks like a Greek goddess in this blue dress!
Kids the ages those kids are and having no chores is disgraceful. The kids should be doing the dishes (boys too, not just girls), yard work (girls too, not just boys), keeping their rooms clean, doing their own laundry, and taking out trash. Cleaning the bathrooms as well. When I was a kid, mu mom worked all week. I did my own laundry, then did my parents' laundry. I kept my room clean. I cleaned the bathrooms, and took out the trash. I got a very generous allowance, but I had to work for it too. Not only that, but in summer, I mowed the yards, raked leaves in the fall, and shoveled snow in winter. I thought of my chores as a game, and actually had fun doing them. (Jan Griffiths).
It amazes me that people can make 4x what I make and still be in debt... Simply because they aren't being aware.
When Gail says "THOUsand" it's so brutal.
This need to help people are on SSI and social security.
Look at the prices back then, no where near what they are now, their house if they still have it must be worth $500k by now.
Well done. Good info
Watching this in December 2024 still so relevant!!! And willl probably still in 5 years....
"Theyre so dumb they put it in their mortgage" lmao
Renovations have to be done very carefully. I tend to think "live with it" unless something is really awful (e.g. a bed is broken or the oven doesn't heat up)
I blame our education system for part of this. In high school, I was required to take classes like Chemistry. It would have been much better to educate on personal finance. Thankfully, I found Dave Ramsey early and control my expenses. I just updated my kitchen but saved up to do it. I am trying not to touch my home equity with the plan of paying it off ten years before I retire.
Why do people depend on HS to teach them everything? What happened to the parents? School taught you how to read, go read on finance.
My parents taught me finances the beginning of high school. I also got the finance class 2 years later in hs.
Yes, parents should be showing their kids.
Many years ago I was a foster parent. I also helped those kids learn all about finance and budgeting. 😀
@@sct4040 Honestly, because many parents don't know it. High School should provide a fundamental education to function in society. It is great if parents help but not everyone has the "perfect family situation". If parents are in huge credit card debt, do you think they will be good to teach their kid how to budget?
@@cjhoward409 Great that it was taught to you from two areas. Money management is key for adults and a large reason why people get divorced. It needs to be stressed.
In alberta they do teach finance its called CALM. Albertans still find themselves in this mess. Why? Because money is 99% discipline and 1% education. Also parents should teach this to their kids.
We had a UK version of this I can't remember what it was called though
Spendaholics
@@jester7792 yes that's the one
No camps, no fancy clothes, kids get part time jobs
My parents never paid for summer camps! I went many summers! These ppl are like my parents ended up, broke and depending on my brother and I. They're so entitled they genuinely don't care about anyone comfort except themselves.
I miss this show!
I started my kids doing chores at 5 years old and they get paid a dollar for a chore. They know that they have to work for their money and are always asking for more chores to do. :)
To poor to save but not to poor to spend spend spend?..i want to go half a million dollars in 5 years but in to savings for sure..!
If my children ignored my request to do a household task like emptying the dishwasher they would be sitting on the doorstep.
Oh wow, you got your mortgage payment down! - no it's still $1747 I just wrote it as $1700?? Did she really think Gail wouldn't notice? Surely she's seen the show!
I just love your Canadian accents.
2024 we need you
The children shouldn't get an allowance at their age. They are old enough to get a part time job.