This episode of Maxed Out was about Regina and Elliot, a young couple who has babies-on-the-brain. Emotionally, they're ready to start a family together, but financially they're in discord and couldn't afford a baby with their heavy debt. On top of their mortgage, they have $38,000 in consumer debt and are spending $3,000 more a month than they earn. To see if financial guru Alison Griffiths can help the couple avoid bankruptcy and save for a growing family just read more

Regina and Elliot are constantly bickering about each other's spending and neither are taking responsibility for their financial state. Alison says the biggest red flag is that 100 percent of debt payments ($2673 average per month) is being financed by other debt, like cash advances, so they're not actually decreasing the balances. By drastically cutting spending, like Regina's frequent salon visits and Elliot's smoking habit, Alison gives them a plan to start digging themselves out of their ever-expanding debt hole.

Alison suggests that the couple open a baby account, and by living on a reduced income they'll be able to deposit money each month. The money saved would hopefully allow them to have a new baby without acquiring new debt. Alison says their biggest mistake is their blindness to the fact that what they spend today determines how they'll live tomorrow — that's something we all should think about when handling our finances and making money choices each day.