Oprah – America’s Debt Diet

Kateelizabee

Yeah, sorry, I grew up in Detroit, and my friends did NOT spend anywhere near that amount on their hair!

tigerlily

All I can say is......UNBELEIVABLE!!! :eek:

devoncat

I see waste like this regularly. From what the experts are suggesting, we can assume they have a very high income (only cutting hair, mobile costs, and eating out in half). Yes they are living beyond their means, but perhaps their debt isnt that large when you take in earnings? If you put it into pounds it is roughly £100,000. There are many people here who have that amount of debt. It is not just Americans being are a different species! Why is it that it is so easy to judge Americans and their lifestyle? We arent doing any better or this website would not exist!!! I lived there and it isnt too different from here, just the accents.

AMILLIONDOLLARS

Went onto the forum, its all seemed a bit negative, not supportive like here:(

WLITC

devoncat wrote:

I see waste like this regularly. From what the experts are suggesting, we can assume they have a very high income (only cutting hair, mobile costs, and eating out in half).

Well the Bradley's (the family in question) have a joint income of $102,000 and while that may seem a lot to many Brits, I don't think its considered as extremely highly paid in the US. My take, having watched the show, is that its about getting them to make compromises and meeting them half way on some issues. Sure they could go in there and cut back there spending to an absolute minimum, but as someone else pointed out, if they were forced into such drastic changes so quickly its quite possible they wouldn't stick to it. However, I think like a lot of people, once they start seeing how much more money they have by not wasting it on pointless things, they'll start cutting back further themselves.

dollindebt

Kateelizabee wrote:

I'm an American expatriate and all I can say is :eek:

I am also an American expat....double eek! _pale_

fairylights_2

:rotfl:

How horrendous! Can you imagine?!?!?!

Sorry - that's made my evening. Thank God we are not that badly off - I can't believe these people need to go on Oprah and admit that they can't deal with their debts when they spend such obscene amounts without a second thought.

My trademarked solution? Take away their cashcards, give them $100 a week each to live on.

Risible. :rotfl:

SammyD_2

ooooh I love Oprah - it was her that started me on my moneysaving path many years ago when she did a show on "the Millionaire Next Door" - basically how those with flashy things are not the ones with the money (a fab book by the way if you have not read it yet). I vowed and declared that that was how I would live too (although not aiming for a million, just to make sure I live well below my income). Now I am just trying to figure out how the download works so I can watch the episode.

BobProperty

Amazing co-incidence SammyD, I've just re-read "The Millionaire Next Door" and was thinking of starting a topic based on something in it. It is a really interesting read.

exil

Well, the average teacher in the US gets $46k - which is £27k. New York
bus drivers get about the same.

Median US household income in 2003 was $43k, or £25k.

Britian - median household income in 2004 was - guess what - £25k. Americans are not
actually any richer than we are (using current exchange rates).