Financial Learning – Oprah’s Debt Diet

If you have been hanging around anytime at all, you have heard me talk about how important it is to continue learning about how to manage your finances.

I have recently completed watching Oprah's Debt Diet series.

Here are some things I took away from watching this series:

  • Americans are very disorganized
  • Spouses who do not work together are susceptible to hiding debt
  • Debt is a disease – DIS EASE – uncomfortable
  • When faced with their true financial picture, people KNOW that it is out of order!  They will make statements like, "This is eye-opening", "This is nuts!", and "Wow!"
  • There is ALWAYS a way to spend less money
  • Some people are just plain stupid with money
  • People know their real story, regardless of the facade they present
  • Folks feel stupid when it comes to money and are scared to ask for help!
  • Americans feel validated by their credit score
  • Kids don't really care about STUFF – they just want to spend time with you
  • 43% of homes purchased last year were with $0 down!


  1. Julie Brown on May 22, 2007 at 4:04 am

    Hey Joe! Check out today (tuesday may 22nd). There is an article on how to start your own university!

  2. Tina Harkey on May 22, 2007 at 7:47 am


    I was thinking about the $1000 emergency fund. Do you really think that is enough? If my Aunt in Michigan died and I had to run up there for the funeral I could spend that just on airline tickets. Is $1000 in the emergency fund just a place to start?

  3. Joseph Sangl on May 22, 2007 at 9:14 am

    Sangl says …

    Julie – loved the article!

    Tina – You are correct! The $1,000 emergency fund is just a BEGINNING emergency fund. I made sure that I had at least $2,500 from day one – because that would actually replace a transmission or a furnace! Great observation!

  4. John X on May 22, 2007 at 7:25 pm

    Now that I have stopped my collegiate monetary hemorrhage(~ I graduated), I am joining the get-out-of-debt revolution!

    My wife & I had a combined $248,500 in debt.

    We recently mailed in $27,000 to reduce that to $221,500 in total debt.

    We have no other debt than the student loans.

    My goal is to be debt free in 5 years.

    Watch for smoke as we burn this debt down!

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