Season 9
14 episodes
22 min. per episode
Where to watch
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Couples confront financial chaos with tough-love guidance, risking everything to save their relationships while learning hard truths about money.
Episodes
Dawn and Kelly, a massage therapist/acupuncturist and a farmhand respectively, recently bought a $500,000 house - their supposed dream home in the country as Kelly in particular is a country boy at heart - with a $100,000 down payment, some of which they had to borrow. They decided to build Dawn an office in the house so that she could work from home. However, because of the rural location, her income has dropped by about half from its previous $90,000 per annum when she was working in the city, leaving their combined income now at $86,000. In addition to Dawn buying new stuff for the house which they could already not afford, the house ended up being a fixer upper, which they did not anticipate. The maintenance and operating costs of the house are eating up their money, placing them in a catch-22 situation as they don't have the money to make the necessary house upgrades to save on those operating costs. Dawn handles all the household finances, Kelly not totally aware of how bad the situation is, it being so bad that unless things change, they could lose the house. Beyond the nuts and bolts of the financial plan, Gail has to get Dawn and Kelly to look at the house from a more critical standpoint, namely to get their brains out from their hearts, and what the costs and benefits are of that house compared to alternate housing.
Thirty year old Adam, who has an annual income of $35,000, four years ago "inherited" a house from his mother, and along with it a $300,000 mortgage. He went into the situation with his eyes wide shut. Twenty-five year old Tara, who has an annual income of $38,000, felt that one of the attractive aspects of Adam was that he did own a house at his age. When she moved in with him, they decided to share the debt of the house, which is currently $1,800 per month for the mortgage. Tara also changed the "face" of the household, cleaning and tidying, which included spending to do so. She was not aware when she bought into the dream that Adam was in arrears on both the mortgage and property tax. They are on the verge of breaking up because of the house, which they would both lose if they split since there is no way one of them could afford it alone. On top of these costs, they each are spending more than they can afford on lifestyle choices, such as on adult toys, luxuries and entertainment. Gail has to get them to prioritize their wants in life, including the current dream they are experiencing of home ownership. They may come to different conclusions based on their attachment and history to the house in question, which in turn could be a deal breaker in their relationship.
Late twenty-somethings Shelly and Luke, who have a combined income of $120,000 annually, are addicted to buying rental income properties. They currently own three properties, including their own house with a rental unit, with a combined mortgage of $870,000. They are trying to juggle not only the money in their lives, but their time, both who need to do maintenance, renovations and other business on the rentals in addition to their respective full time jobs and taking care of their infant daughter, McKenna. Although they also work on their own house, it is generally on the bottom of their priority list as they work on the dream of wealth at an early age, which doesn't seem to be coming as easily as they thought. They have no clue what their expenses are or how much income they are generating from those properties. In reality, they are on the edge as one unforeseen major expense or loss of their employment income or longtime loss of rental income would bankrupt them since they are spending more than they thought and taking in less in comparison than they thought, with their "jobs" supporting both their current lives and the rental properties. Gail has to put them on the regular cash diet as they are overspending on their personal lives, but she more importantly has to get them to separate out their personal from business finances, and have clearer pictures of what each property is costing and bringing in.
Early-thirtysomething married couple Leona and Mohamad are relatively well off, earning a combined income of $150,000 annually. They generally like material possessions that have character, which in a house means older. They purchased their dream home, which required some maintenance work to bring it up to a standard where they could be insured, some of that work which has not yet been done. Instead, they did some cosmetic renovations, bought some expensive items to furnish the house, and took an $8,500 vacation to the Middle East and southeast Asia, when and where they bought some expensive Persian rugs and silk curtains. Everything was paid on credit. Mohamad handles all the household finances, he shielding their money situation from more emotional Leona, who does however know they have a money problem. They know that selling the house is a solution but one they don't want to do. Mohamad has started to pay off their debt, but he still supports their spending to live their dream life. They have put off having children until the debt problem is resolved, which above the mortgage sits at $100,000. In doing their budget and in handling their finances, Leona has to be an active participant in the processes, which may be more difficult for Mohamad than Leona. Gail makes them do a cosmetic project, something in their back yard, on a budget to show them that they can accomplish their goals on a budget and over time, instead of throwing money at the issue to get it picture perfect overnight. And Leona, who is the one who generally deals with contractors, is given a lesson on how not to be taken advantage by those trades-people, who often see her as the helpless and thus easily taken advantage of female. This last item is all in an effort to get the need be items in their house fixed in a timely manner so that they can be fully insured.
Married for six years with three children, Susie and Alan bought a detached house three months ago so that all the children could have their own bedroom, upgrading from the three bedroom condo in which they were previously living. They have spent money on some new cosmetic items for the house, such as appliances and television sets. They were determined to buy the house that they did, despite the home inspection identifying some deficiencies which they have done nothing about yet, hoping those problems would magically go away, especially as they don't possess the DIY skills to fix any of the problems themselves and as they don't have the money to pay for big jobs. One of those problems has become more of an issue, they dealing with the symptom of the leak rather than deal with the leak's root cause or the consequences of the leak. They were unprepared for the additional costs of detached home ownership compared to their condo, and have not set aside any moneys for those additional costs. Susie, who handles the household finances, is always stressed, worrying about money issues. Alan, on the other hand, wants Susie just to deal with paying the bills, while he spends money on his priorities, namely a picture perfect lawn, his guitars, and camera equipment for his side business as a photographer, which he treats more as a hobby. These issues combined have placed them $57,000 in consumer debt not including the mortgage, with house maintenance issues piling up. Gail has to get the couple to face up to all the responsibilities of home ownership, and shows them what the asset of their house would be worth in the future if they don't prioritize the maintenance problems identified in the inspection. She also has to get Alan to get his head out of the sand when dealing with their finances, he who has to make more effort in earning money from what is now more the hobby of his photography, but which he justified spending on as a business.
Money can't buy you love. But keeping love alive without money can be pretty tough. In fact, ninety percent of marriage breakups are due to money problems. And to get advice on how to manage money usually costs money! Til Debt Do Us Part, is a series that offers tough-love solutions to those willing to face their financial troubles head on. In each episode we meet a couple in crisis. Some are on the verge of bankruptcy, hounded by creditors or facing eviction. Others are just getting by, but in the midst of a personal meltdown or relationship breakdown because of money issues. With the sensitivity of a therapist and the toughness of a CFO, our host, renowned financial author and columnist, Gail Vaz-Oxlade reveals what she's found in a couple's finances - and then she'll dig a little deeper. She asks some tough questions and then they'll be forced to face reality. Where will it end if they continue on this rocky road? To get things back on track, Gail takes control of their finances for one month. She devises a strict budget and enforces some dramatic changes. A two-car family may become a one-car; or no-car family. The new hair salon may become the corner barbershop and goodbye fancy lattes - hello thermos. All credit cards and debit cards are taken away and their only discretionary cash is a weekly allowance. Gail makes regular house calls to deliver the week's allowance and assigns a new challenge for the couple to make them confront bad money habits and to help get their relationship back on track. At the end of the month, we find out how well they've done - how much did they save, what did they learn about money, themselves and each other? What is the new forecast for their finances and relationship? Gail can reward them with cash based on how well they did on their challenges. In addition, she always surprises them with a small but thoughtful gift, certain to generate hugs and the occasional tear. Til Debt Do Us Part is a dramatic and fun series that shows how bad it can get and how to get out from under.