This episode of Maxed Out is about Kim and Kevin, a couple so financially unstable that their money troubles already caused them to separate once — but they had to stay in the same house together because neither could afford to pay rent somewhere else. While they are back together, the couple still lives separate financial lives and is clueless about where their money is going.
Kevin tells Kim everything is OK and she just goes off the assumption that he's telling the truth because they don't communicate about money. He admits they are on the road to financial failure, and it could also mean the end of their relationship. Find out more about their situation when you read more.
Together, Kevin and Kim earn $80,000 a year and have $50,000 in debt. Kim prefers to keep their accounts separate because he has a spending weakness — he uses their line of credit to pay for everything and never knows how he'll make his next payment. Financial guru Allison Griffiths discovers they have a monthly shortfall of $2,700 and in two years, their $50,000 of debt will be $119,000!
Allison encourages them to cut back spending by limiting cash withdrawals (they had been taking out $1,600 a month), temporarily reducing retirement contributions, cashing in their life insurance policy for a cheaper one, and merging their money to keep foreclosure and divorce at bay. Through a team effort, Kevin and Kim are able to cut their monthly spending by $2,800, pay down a substantial amount of credit card debt, and their open communication about money makes them hopeful about their relationship.
Sessun
Untold
Ludd
Why don't I have this channel? I would love to watch this show. I love money and enjoy saving more than most. I call my self a young Suzie Orman. If I could make a living telling people what to do with there money that would be heaven. Almost everyone I know are so far in dept and continue to live their life as if they have money. It makes me sick. They should put this show on normal cable.
1What kind of relationship do these people have that they can't/don't discuss something as huge as money? My boyfriend and I are planning to move in together and already we are trading credit scores, debts (none, yay!) and spending habits (lol).
2Squeaks26, don't worry, I have the channel and this show is NEVER on! I always check to see when it's on because I like these recaps, but the only time I've ever seen it on is when I was home sick last week-it was on at like 1 pm, but not the next day. Usually, it's just long spans of some cleaning show. I wish I could see full eps online, but they don't have those either.
3I read an article about how women are staying relationships because they can't afford to pay rent and other bills. It's such a depressing thought to comprise yourself just to have a roof over your head.
4What the hell kind of world do we live in when a married couple refuses to discuss money and their marriage is in shambles completely over money?
I can't imagine NOT discussing the details of my life with my partner. God...I swear, the world frightens me more and more every day.
5Post New Comment
Please share your opinion with our community, but make sure it is on topic and follows our Community Rules. We moderate comments and prohibit personal attacks, threats, spam, lewd images, or the promotion of your personal website.