[McD]

Mtv's show True Life is on right now. This episode is entitled, "I'm in debt." It features 3 young women in debt and their solutions to it.

Let me know your opinions if you watch it.

 

[kaykwilts]

We don't subscribe to cable tv but it really does sound like an interesting show to watch.

 

[carolynski321]

i think i just missed it. i am glad the mtv is doing something like this for the younger generation because they are so terribly in debt coming out of college and with credit cards right now.

 

[Marie78]

I must have missed it, I wonder if it will be on again in a couple of hours. Were there any good tips?

 

[McD]

^I didn't think so. One girl declared bankruptcy. She had like 20K in c.c. debt. But she would get paid, go tanning, buy a new outfit and she only worked parttime. She went to a credit counseling guy who showed her how they could get her out of debt by her paying 400 a month for 41 months. She said that 41 months was to long to have to pay so she declared bankruptcy, immediately went out to eat, and has now started saving 400 a month.

One girl didn't seem to be trying very hard. She didn't have a job, she wasn't looking for a job, her parents were paying her bills, making her resume, etc.

The other girl was REALLY trying. She was eating Ramen and Tuna and saying things like, you can't beat a 68 cent lunch.

Overall, I was disappointed. It's great that MTV did that, but they could have done so much more with it.

 

[mikandmari]

It would be great if they would follow up in a few years. My bet is that the .68 lunch girl will be the only one with her head above water, after suffering through the repayment process.

One thing about the show (and MTV in general) is that it does reflect reality.... I could also bet that "2 out of 3" young American adults have been so indulged and spoiled by their parents that they haven't learned a thing about money and the real world!

My niece & nephew are this way. They believe they deserve the finest (clothes, cars, etc... money is no object to them). Their mother makes fun of our family for being so 'cheap'!

 

[Kitten20]

^I didn't think so. One girl declared bankruptcy. She had like 20K in c.c. debt. But she would get paid, go tanning, buy a new outfit and she only worked parttime. She went to a credit counseling guy who showed her how they could get her out of debt by her paying 400 a month for 41 months. She said that 41 months was to long to have to pay so she declared bankruptcy, immediately went out to eat, and has now started saving 400 a month.

Oooh... that girl irritated me so much! :censor: LOL. The show was interesting, but overall pretty disappointing.

 

[Mumzy]

I saw it. Wish I hadn't. I know they reflect the average thoughts of the young. Help us because they run up the bill and have it erased then go out to lunch with their airbrushed nails, 'upped the tan packaged' skin and latest trend clothes. Then in reflection of what happened statement "I sorta feel bad". No real remorse, no job and no plan. Grrrr.

 

[ilovemrevans]

I watched it twice. Last night and this morning. It angered me a lot too. I have about the same amount of debt as the girl with no job and the the girl filing bankruptcy. Here I am busting my...you know what, and there they are, Mommy and Daddy paying their bills, doing NOTHING. Tanning, going out to eat. I noticed the fake nails too. They're so broke yet they can avoid all those luxuries? How the...does that WORK? I want to avoid bankruptcy at all costs...and it's going to be HELL paying it back, but geez, thats what happens when you're stupid with money. Wish I had mommy and daddy to bail me out *rolls eyes*

the girl with the condo eating tuna and ramen, SHE's what gives people like me hope. She's busting her...to do what she needs to do, and she's going to be fine. They need to show people that its POSSIBLE to get through things like that.

That show really made me angry. Rah! lol...that is all

 

[Kitten20]

I saw it. Wish I hadn't. I know they reflect the average thoughts of the young. Help us because they run up the bill and have it erased then go out to lunch with their airbrushed nails, 'upped the tan packaged' skin and latest trend clothes. Then in reflection of what happened statement "I sorta feel bad". No real remorse, no job and no plan. Grrrr.

LOL... one thing I noticed is that every one of those girls had their nails professionally done. Not that I have anything against that (when budgeted -- I do it sometimes too), but come on.

 

[wanderlusting]

I didn't see it, but there's a show on BBC called "Shopaholics" It pretty much takes a young person who is in a lot of debt. They then have a psychologist and a "money expert" go through that person's spending habits, lifestyle and why they feel a need to spend.

I quite like this show because sometimes these people don't realize that they're overspending to compensate that the dad left the family when she was young or the a guy's mom didn't want to let him grow up so she always bailed him out. I know these aren't excuses, but once they realized that these were the underlying factor, they were able to heal that part and move forward.

After that's done, the experts help with a budget and how to readjust their lives with frugalness.

 

[wanderlusting]

Sorry, it's called Spendaholics

 

[rachelMcK]

I can understand the psychological reasons for spending so much. What I can't understand is why the parents allow it. I don't have kids but I'm definatly going to teach mine the value of money. My parents had a lot of money when I was growing up. THey spoiled my sister while I worked hard (2 jobs in highschool) to pay for college and whatever else I wanted. I'm not doing so badly (I could do better) but my sister is in terrible shape. She has no idea how to handle money. Thank God she doesn't have a credit card!