(upbeat rock music) - He sees it, he wants it, he buys it. - Four cars in four years? What is up with you? - I know what's right, I know what's wrong, sometimes I just don't give a (bleep). - Do you have any idea what I'm gonna make you do? - Get the hell out of here. - I am serious. (couple laughing) (upbeat rock music) ♪ Money money money money money money money ♪ ♪ Money money money money money money money ♪ ♪ Money money money money money money money ♪ - My name is Candice. I am a secretary for an education institute. - My name's Clint, I'm an operations coordinator for a liquid bolt company. Me and Candice got married young, pretty sure we got married when we were 22. We think we're coming up on five years. - Clint never stops spending. - When I get something in my head and it's something that I want, I don't think about it and I just do it.

- I don't wanna be spending the money but he has to buy everything new. Big screen TV- - Nice definition. - [Candice] He had to get the surround sound. - Can't have a TV and not proper sound. - Various video game consoles in the past, motorcycles, cars, everything he wants he gets. - Candice definitely monitors some of the spending that I've done. - There's online banking and I can view that at the instant. Like where he has gone to the strip joint. - She'll be online, she'll be like, oh you're there are you? She's like a stalker like- - Guess who showed up there? (Candice giggling) Some days I hate him but I love him. Clint doesn't open any bills, nor does he go online to check anything. - I have no clue as to what's in the bank account.

The bill fairy comes down and pays our bills. (Clint chortling) - I will pull from our line of credit or go into overdraft. - But that doesn't bother me. Credit is pretty much what makes the world go 'round I guess I would say. - [Candice] Now we have purchased a condo that closes in a couple months. - Again, that was probably more my idea. - Clint doesn't realize that we have to come up with the deposit before we move in. There's other things that contribute to being emotional. He can't have kids naturally. That's extremely emotional for me. I'm frustrated, I can't do IVF because of Clint's spending. - I think mine and Candice's relationship is more at risk with the baby situation than the debt situation. - If we get further and further in debt, I think that Clint and I will eventually part ways. Because we won't have kids which is something that I really want. He'll have all his stuff but he won't have me. (upbeat rock music) (cars honking) - [Narrator] This month, I'll help this couple move from red to black.

I've been solving money problems for over 20 years. Tackling everything from high finance to low income. I help people understand money and debt which is still a huge mystery for most folks. And it's the number one reason couples split up. So now, I'm making house calls. (upbeat pop music) When it comes to spending, Clint is like a kid in a candy store and Candice is powerless to stop the binge. The way things are going, they can't afford to start a family. It's time for these two to get their priorities straight. Hi, Gail Vaz-Oxlade. - Hi I'm Candice! - Nice to meet you! - Nice to meet you too! - I'm Clint. - Nice to meet you Clint. - Nice to meet you.

(upbeat pop music) - You're a bit of a boy, right Clint? You're a boy man, you sit here and you play shoot-em-up games! (Candice giggling) So Clint, how many hats do you have? - Pardon? - One, two, three, four, five, six, seven, eight, nine, ten, 11- (air whooshing) - We'll go to a store, Clint is like a woman, he will try on fifty million things. He's got a hat fetish, shoes, clothes, everything. - One of the things that I notice about the two of you is that there's a definite discrepancy in your stuff. His robe is beautiful. - Oh yeah. - Her robe is ratty. - I'm sorry. - This is pretty well your relationship. Very often what happens is, no matter what I do to help on the financial side, I actually can't solve the problem because the problem is between them. That's not your case. It's very clear that you're very tight and you love each other to death. When will you know you have enough? Enough clothes, enough hats- - Honestly I probably won't ever do that.

- $80,000 in consumer debt. Are you kidding me? - I know where the money's going. - No you don't! Neither of you knew where the money was going and I'm gonna show you where the money's going. You don't know where the money is going. (somber electronic music) There's your $80,000 in debt. You went off and had an IVF treatment at an interest rate of 32%. These people are stealing from you. If you can afford a baby, you should be able to pay for your IVF straight up. - Yeah. - Okay? 'Cause there's some planning that goes into parenthood. And then you have all this money on this credit card. At almost 20%. So you're not pro-actively managing your credit, you're not figuring out how to get your interest rates down. - No. - And your car loan Clint? At your payment, it'll take 100 months to pay it off, over eight years. (melancholy guitar strumming) 'Cause you carry forward negative equity. - Every time that we trade in these vehicles, we lose money and it just added up, added up onto his previous loan.

- Four cars in four years? Too many cars. What's that car actually worth today? - Like $15,000. - Okay. So that $15,000 car, you're gonna have to drive for eight years and you're gonna pay $51,000 for it. Ooh look, finally we got something you understand. By the time it's all paid off, the way you're doing it right now, you're $80,000 will have cost you almost $145,000.00. - That's crazy. Yeah that kinda made me step back and kinda look at what am I doing, why would it be at that amount? - Okay so right now, you're housing is about $1,200, which is about 30% of your income. And that's okay, you can spend up to 35% of your income on housing.

But that's about to change. Clint, what's your new mortgage payment gonna be? (somber jazz music) What's your property taxes? What are your utilities gonna be? (Clint sputtering) (Candice chuckling) What's the condo gonna cost to insure? (Clint clearing throat) Maintenance and condo fees, you know what your condo fees are gonna be? - Yeah, cheap. - Okay, so you actually haven't got a clue. You just bought the most expensive thing you're ever gonna buy in your whole life. And he didn't even think to check what it would cost? What is up with you? Every month you're overspending by $2,755 every month. And if you keep it up, in five years you'll be $677,000 in debt. (both chuckling) (Gail snapping) - When he's silent it's 'cause he's actually in trouble. - So my question is, is that where you want to go? - No. - You're sure? - Very sure. - Very sure. - Okay, so will you do anything I ask you to do? - Anything. - Over the next few weeks, I'm gonna give you a series of challenges to do.

You do the challenges to my satisfaction, I'll give you up to $5,000 to help put a dent in this mess. If you don't do the challenges to my satisfaction, you don't get the money. If you have the wrong attitude, you don't get the money. - Okay - We're gonna get your spending in line, okay? We're gonna put your debt repayment on the front burner. And we're actually gonna try and get your guys working together. You don't need credit cards anymore, you can go get them for me right now 'cause they're going bye bye. Coming up, challenge one leaves Clint searching for words. - Get the hell outta here. - I am serious. (couple laughing) ♪ Money money money money money money money ♪ ♪ Money money money money money money money ♪ (upbeat techno music) - Clint laughs off his overspending. - I put the bills underneath my pillow, wishing for the bill fairy. (chuckling) - [Gail] But wife Candice doesn't find it so funny. - I resent the fact that he doesn't pick up on that we're in so much debt. - What does $80,000 worth of debt mean? How many cars is that? - One good one. (Candice laughing) - I can see why you have trouble.

With that debt, they can't afford the medical assistance they need to start a family. So the stakes are as high as they can be. - He'll have all his stuff but he won't have me. - [Gail] For the next month, this couple will learn to live on a strict cash budget. No more credit cards. They'll complete weekly challenges to tackle their money and relationship issues and if they're willing to change, I'll reward them with thousands of dollars to pay down their debt. No changes, no money. You guys are overspending by 75%. - (chuckling nervously) Oh man.

- So instead of the $4,000 a month you have been spending, you will have only $1,000 to spend on your variable expenses which is things like, $100 a week for food. $100 a week for transportation. $25 a week for entertainment. Clothing and gifts? - Oh God it's gonna be like zero. - Five dollars a week. (Candice laughing) - Okay, oh God. - $17 dollars for other, this includes your pet food. - Okay. - Okay? Because your living on cash, you have to write it down. Here's a budget binder. Make sure you track every penny you spend. - Okay. - I feel that I'm gonna have to step back and reevaluate things that I feel are a need.

- It's time to hear about your first challenge. You're actually spending more on your transportation than on your housing. And that's because of that silly little car go-around where you keep carrying the debt from one car to another. So, since your car is all fire and important to you buddy? You're gonna live in your car for weekend. - What? (Candice giggling) You're joking. - I'm not. - Get the hell out of here! - I am serious. - I love you! (Candice giggling) - Because your car is the most important thing to you- - Get the hell outta here, are you serious? - I'm dead serious.

I mean, you're prepared to put your entire financial situation at risk for the sake of a car so, you know, you might end up having to live in your car one day. So see what it feels like. - Yeah, that caught me off guard completely. That wasn't even in my spectrum whatsoever. - Part two is, you don't know sweet diddly squat about the place you're buying. You need to know what it's gonna cost for you two to live in this place. So that you have a budget that works. And you're gonna use his figures because your challenge this week is you're so hell-bent on having a baby, you're job is to make a budget that incorporates the fact that you wanna have a baby. So your costs are gonna go up, you have to figure all that out. Make it so, I'll see you next week.

(upbeat funk music) (Candice knocking) - Yeah okay. To sleep in the car was absolutely horrendous. I could not get comfortable. The thoughts I had last night for the most part is pretty obvious, it's not the smartest or brightest thing to spend more money on something you spend a couple hours in than you know, keep a roof over your head. - Hi I'm- - With that in mind, Clint researches the occupancy costs of their brand new condo and Candice adds up the baby expenses. - Did you ever use formula and what was the cost? - An average container, at least $20, sometimes $30. - How many diapers- When I was doing my IVF treatments, all I was thinking was of the immediate you know, gratification of becoming pregnant. - The day care costs are obviously the one big thing. That's a huge thing you have to consider, you look into beforehand. - I'm glad that she forced me to look at how much it would cost to have a child. - Did you find out about the condo? - Yeah, I was in the dark for sure.

- Yeah. - And the questions you asked me last week? - Right. - I'd definitely be landing them. - Okay good. And so, what was the whole experience like, living in a car? - It gave me time to think about what was going on and things like that- - And what did you think when you thunk? - That I put us in, you know, not the best of situations. - I thought for sure that he would be like, F this, I ain't staying in this (bleep) car. - Right, you were a good boy. - He was. - How did you find doing the budgets? - I had to do a couple years in order to get it to balance- (Gina laughing) Yeah. Yeah it won't balance now. - When I did your budget I couldn't get it to balance. - Okay. - You were several hundred dollars over a month. You have a lot of debt and it's at a very expensive interest rate. See all the stuff around here? These are all people that needed money. So the first part of this week's challenge gives you a choice.

Either, you sell $15,000 worth of your stuff to pay down the debt. - Okay. - Or you find a way to make an extra $700 a month. Somewhere generating that on a consistent basis. - Between the two of us? - Between the two of you to cover that. Part two is, to go to a financial institution and say we need to do a consolidation loan. And I need the lowest possible interest rate. - Am I glad the bike's going? Hell yes! (Candice chuckling) ♪ Money money money money money money money ♪ ♪ Money money money money money money money ♪ - You're actually spending more on your cars than you're spending on your housing. Clint has been facing up to the reality of his financial situation. You're gonna live in your car for a weekend. (Candice chuckling) - What? - I thought for sure that he would be like, F this! I was definitely proud of Clint. He did a complete 180 from last week to this week.

- [Gail] That means his wife Candice can start thinking about the future. But with all that expensive tech, I can't balance their budget. Candice and Clint had to either come up with $15,000 by selling things or make an extra $700 a month between them. Their decision surprised me. - Clint and I decided to go with both option that she gave us. So we decided to sell my car. I know that taking the bus, it's gonna save me a lot of money. Also I've spoken with my mom and I've decided to go there and do my laundry. And I'm going to& be her new cleaning lady and I've gotten a part time job on Saturdays. It's just admin work for a law office. (dirt bike revving) (upbeat rock music) I was surprised that Clint put up his bike but it's just sitting there costing us money a month. - I love riding, it's a nice escape but, I'll have time for that later on. - I have visions of him breaking his neck so, am I glad the bike is going? Hell yes! (Candice chuckling) And Clint has two leads for an extra part time job.

- For the time being, to help us get out of our rut and you know, get things moving forward a little bit. I can sacrifice some free time. - [Gail] And Clint found a way to turn another bad boy hobby into a source of income. - Tattooing, there's some more things I could probably do. Get some business cards made up, I don't know, flyers. I'm not scared of work at all. (jazzy pop music) - What'd you sell? - The car, my bike and yeah, I got some employment leads. - Good. - And I got another part time job- - Wow! - With my old work, just on Saturdays.

- Okay well, you know what? If that's what it takes to get you out of this hole, bust your butt now and then you can have the life you want. Did you get the interest rates on your loans down? - We went to a different credit card, it's 5.99% for the first two years. We're gonna roll everything into it. Line of credit, credit card, credit medical, all that. - So like, okay, you did all of this? You put lots of thought into it.

So why didn't you do any of this stuff before? - We needed somebody to kick us in the ass. (both chuckling) - So, that's it, that's all it took? - No, that's not all it took. - No. - It's something that we'll have to work on every day. - So are you ready for your relationship rescue challenge? - Sure. - All I can tell you about that is have a good breakfast. - Are you kidding me? - That is (bleep) nasty. ♪ Money money money money money money money ♪ ♪ Money money money money money money money ♪ - [Gail] A few weeks ago, Clint couldn't have cared less about his spending or his debt. - He sees it, he wants it, he buys it. - [Gail] And his wife Candice had made poor choices of her own. You went off and had a treatment at an interest rate of 32%. But instead of making excuses, Clint decided to man up. - I guess part of being an adult is managing your finances. - Before I award them up to $5,000 to pay down their debt, they have one last challenge to complete.

(upbeat rock music) As they work through my financial obstacle course, they'll have to stick together for better or worse. - You made a commitment to each other but your financial irrepressibilities has put your future on the ropes. Now one of you has to go on the ropes for the other. Chose who does the ropes challenge. Candice has stepped up. Yeah like that, keep your feet straight like that in the middle. (Candice giggling) - The ropes were really, really hard for me.

I wanted to stop like a million times. I can't- - Yes you can! - I feel like I'm gonna be sick! - You can, you're good, you're good. - I think what kept me going was Clint. - That's it, perfect! - In this challenge, Candice can't work so Clint has to carry the load all on his own. Crossing the creek caught me off guard, it's very deceiving, you wouldn't think it has that much power but it'll take you out man, no problem. - [Gail] After two tough events, it doesn't get any easier. - What the (bleep) is that? - The century egg. - Whoever sat out the ropes course eats this challenge. - Thank God! (Candice giggling) - [Gail] This Chinese delicacy is made by curing an egg in a casing of mud and straw for weeks or even months.

- The freaking thing is brown! - That is (bleep) - Are you kidding me? - Nasty. - Are you kidding? Should've done the ropes. Oh! (Candice gagging) (Clint coughing) I'm good, I can do it. - Did you do it? I think it was great that Clint ate that egg for me because if it was me, it wouldn't have gotten done. - I think the biggest lesson learned was, patience is important to wait for something and not just go out and grab it and forget about whatever consequences might be, whether there'll be enough money for it or not. (gentle guitar music) - So that egg was pretty gross wasn't it? - The egg was extremely gross. - But you did it. - I did it, yeah. - Proving yet again that you're the man and you will do whatever it takes to get the job done.

- Say it again. (Candice giggling) - You are the man. - Thank you. - You're welcome. What'd you learn this month? - I learned to budget and I learned that Clint and I can work together and when we work together we can accomplish anything. - Candice learned a lot, what did you learn? - Mainly being able to process what is actually a need and what's a want. - [Gail] Not only have they learned to prioritize but with a few simple steps, Candice and Clint made a huge leap in conquering their debt.

By consolidating most of their remaining debt at 6% and paying it off in 20 months, they'll save themselves over $56,000 in interest. When I got here, you were overspending by $2,755 a month. You thought the kind of car your drove was more important than just about everything else. And you couldn't work together to save your lives. So that's all changed. How do you think you did on a scale of one to five? - Four. - A four? What do you think Candice? - I think a five! - You do, well you're right. - Oh thank you very- - Hey, hey, hey! - Thank you. (all laughing) - This made me realize that it doesn't just work itself out you have to work hard at it and you have to get a grip with it.

- I'm really, really happy to see how well you did. I have for you also a romantic getaway. - Thank you very much. - Thank you so much! - You're very welcome. Now I'm getting my hugs. - Thank you so much Gail. You've shown us a brighter future. And now, he's gonna be a perfect man! (Candice laughing) (upbeat rock music) ♪ Money money money money money money money ♪ ♪ Money money money money money money money ♪ ♪ Money money money money money money money ♪ (machinery whirring) (logo beeping)