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Big Spender Episode

Big Spender: The CPA Who's Crazy in Debt

This episode of Big Spender explored the habits of Wayne, a CPA with massive debt. He has $80,000 in credit card debt on top of a $150,000 loan for home improvements, and the renovation isn't even finished. I swear I could see Larry Winget mentally shaking Wayne as he defended his over-the-top spending, and claimed that Larry was just talking about nickel and dimes. Wayne admits that he spends more than he earns but complains that he's misunderstood. To see whether or not this financial mess can be swept up, just

Wayne's situation stands out from other episodes for two reasons: The big spender is a man for a change and his profession is financially related. His girlfriend Nathalie is very concerned that they can't save together and build a future, and thinks that Wayne handles his money this way because he's insecure about his self image. How bad is it? He's spending more than twice his monthly income, every single month.

Larry develops a plan for Wayne to tackle his debt, and even after getting emotional about being seen as a failure he fails to follow Larry's simple instructions. He responds to Larry's no spending outside the budget rule by buying into a Cayman Islands time-share, uses his business credit cards to fund more home renovations when Larry said credit was off limits, and doesn't keep a spending journal like he's supposed to.

This is the first episode I've watched that didn't end happily. In the end Larry says that if someone isn't willing to do the little things, they won't be willing to do the big things. Nathalie seems to agree and says that she's going to find another place to live until Wayne can get his financial act together. How would you deal with being the girlfriend of someone who's disillusioned about his poor financial health?

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sophia_HL sophia_HL 8 years
wow... TWICE his income??
sophia_HL sophia_HL 8 years
wow... TWICE his income??
pvellozzi82 pvellozzi82 8 years
OMG I would go crazy will all that debt
freegracefrom freegracefrom 8 years
Using his business credit card??? Whoa. I'm glad Nathalie is smart enough to not get sucked into that. He obviously has some issues he needs to work out. Just to go off on a "nickles and dimes" tangent... my parents made extremely low salaries all of their lives and had four children. They nickle-and-dimed their way through life - not going out to eat, second-hand everything, nothing frivilous. My extended family always assumed we were "rolling in it" because we lived in a nice house on a lot of acreage, but in reality they made far more than we did. They've never had a mortgage (but have had 7+ houses) or a car loan (and they always thought that it's better to have new cars and not the worry of a used car). Those nickles and dimes add up.
bellaressa bellaressa 8 years
I bet he is very good at his job. It's amazing he is in debt and can't control his life. Always get a copy of his credit score and know his debt before you say "I do".
moss1080 moss1080 8 years
How could he be so blind to something so obvious? It makes me want to take a closer look at issues in my life
RosaDilia RosaDilia 8 years
I would think he would spend more now that the girlfriend left him. He will obviously get depressed and spend more to either get her back or make himself feel better. I agree he needs psychological help for his self worth.
Shopaholichunny Shopaholichunny 8 years
He definately has self-worth issues.
imLissy imLissy 8 years
That guy obviously has issues. He should be getting professional help for his brain, not his wallet
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