Homeowners Scot and Debbie are in for a serious financial overhaul as Money Man Brendon Johnson teaches then a few lessons when Money Man screens Tuesday, April 29th at 8pm on TV3.
As a nation we have embraced a culture of debt and overspending and we don’t appear to be letting go any time soon.
Consumer debt in the year to December 2006 grew by 15% to a whopping $132 billion, 90% of which was in mortgages. New Zealanders now owe $68 billion dollars in residential mortgages.
Homeowners Scot and Debbie are struggling to keep their heads above water and are adding to this terrifying statistic by borrowing against their house, the only asset they have, to fund their overspending.
Now it’s time to throw them a lifeline in the form of Money Man Brendon Johnson.
So how does Brendon feel about the current economic climate that New Zealand is in? “The timing of this third series is perfect as now that the ‘economic clock’ has turned from growth to decline many people will start to feel the pinch with high interest rates, house prices slipping (possibly drastically) and a lot of uncertainty in business circles… if you don’t watch the show you need a check-up from the neck-up,” says Brendan.
The hardest thing for people like Scot and Debbie is getting out of the vicious cycle that they have found themselves in. “The old saying ‘look after your money and your money will look after you’ is so true – its clear to see that when you don’t control your finances how quickly they turn around and bite you especially now in these times of high interest rates.”
As viewers have seen in previous seasons Brendon is almost always successful in turning people’s financial troubles around, so what is his recipe for success?
“It’s always great fun making the program it takes 4-6 days to film which goes to show just how much information is given to the people who come on the show – this is why we have such good results with the turn around of these people’s finances,” he says.
Find out if Brendan will prove to be just as successful with Scot and Debbie as he’s been in the past, Money Man screens Tuesday, April 29th at 8pm on TV3.