Part four of Oprah’s Debt Diet aired today. The Debt Diet pairs three different families in debt with three different financial experts helping them dig out. I’ve been following this series from the beginning and I thought today’s installment was the best by far. It finally felt like they were getting specific with the steps to the plan. And all three families were featured today which was nice.
To me the most bizarre part of this series has been the Bradley family. This family is headed up by a fiscally out of control mother and an emotionally checked out father. Their entire kitchen had to be stocked with food, small appliances, and even dishes and silverware because they’ve been eating out for every meal, every day…to the tune of $700 a week for a family of four! Amazing. They must have had to look far and wide for this family and I find them mostly entertainment value (think reality TV) because there is so little about them for the average family to relate to.
Some of the more helpful parts of the show were sections featuring grocery shopping techniques and a lesson in “snowballing” your debts. David Bach, the financial expert for the snowballing lesson, recommends paying off debts from smallest to largest, rather than by interest rate. That’s a technique I happen to prefer so it was nice to see it reinforced here.
It appears this series will be a regular feature for Oprah, although I’m not clear on how often or for how long. I’m looking forward, however, to future installments.