20/20 Flat Broke: Begging and Borrowing in America
This special was aired on ABC back in January. I had to post this clip about some extremes when it comes to living on a budget and being frugal. This video shows a family that is struggling with their debt and compare them to a family who has zero debt. This family has seven kids, two cars, a house, and absolutely no debt. They have self labeled themselves and their book “America’s Cheapest Family” which may or may not be a good thing. They buy a lot of stuff used, cars, furniture, clothes, and are on an extremely tight grocery shopping budget. Planning their meals for 30 days so they can go shopping once a month, which is almost like running a business at that point. I’ll give them credit for the dedication to their budget and owning that title. Do they ever take a vacation or splurg on something ‘brand new’ that someone wasn’t getting rid of?
I would like to see a followup on this family and what happens when their kids discover what credit can do. Money should not control your life to this point.
http://www.youtube.com/watch?v=bcsKi2hNuUw
We were also very interested in viewing this complete episode.
We have six children, but only three still at home and it was incredible to hear that they were able to provide for seven on only $35k!!
They are one remarkable family.