Picks and Pans Review: Dollars and Debts
The Family Channel (Sat., Aug. 24, 10 P.M. ET)
According to this disturbing documentary, personal bankruptcy filings are spiraling, and the average U.S. household debt amounts to 94 percent of annual after-tax income. Ouch.
In this special, Scott Ross reports on poor fiscal management, uninformed consumerism and runaway credit-card spending. The program includes bruised testimony from men and women on the street, many of whom admit to the ultimate form of borrowing from Peter to pay Paul: using one credit card to settle up bills from another. One woman says sarcastically, "Can you say wage garnishment? Yes, I knew you could."
The program's solutions—hard-headed realism, disciplined spending and patient planning—may not seem palatable, but it's advice worth hearing. Forget Robin Leach and watch this.
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