Posted by Mary Caraccioli | Filed under Kids, Lifestyle, money, TV show
Meet the Lafferty family - a fun-filled and active family whose busy lifestyle is proving to be too costly!
With 3 kids and an inability to refuse them anything, Amy often found they couldn't afford to pay all their bills at the end of each month.
Skating on thin ice - The Laffertys were spending too much and needed my help fast!
After reviewing the family's finances I was ready to present them with my rules to get them back on track.
I advised the Laffertys to draw up a chore plan for the kids with the promise of a pocket money reward - this would help Amy curb how much she spends on them.
The kids embraced this challenge but they weren't they only ones who had to follow some new rules...
I forbid any more shopping sprees for Amy. Now when she heads to the store she must go armed with a list. With no deviations allowed, Amy soon saw her spending more than halved.
Another idea I suggested to the Laffertys was a garage sale. The family's love to shop had seen a lot of unused items accumulate in their garage - selling some of this stuff was a perfect way to de-clutter and make extra cash!
The most important change Matt and Amy had to embrace was learning to work together and discuss their finances. By setting aside a designated period of time each week the Laffertys will discover they can budget and save for the future.
I loved spending time with the Laffertys - a happy and united family whose downfall was not knowing how to budget when it came to their kids. Having straightened them out it was time for me to find another family in need...
Tags: spending, television, we owe what
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