On Tuesday, October 18 at 8pm, tune in for the premiere of House Poor, a show about finances and home renovation — and how the two are tightly joined at the hip. Find out where to watch.
What's House Poor About?
Each episode of House Poor features a family who are in over their heads financially and aren't quite able to keep up with the renovations they desperately need while staying with the lifestyle they're used to.
Watch more about the show here:
You're probably familiar with budget woes, and budgeting a family income isn't a lot of fun. Paying close attention to where the dollars go, though, can highlight some areas that need some work.
That's where our financial expert, Suzanne Schultz, steps in.
Meet Financial Expert Suzanne Schultz
Schultz works closely with homeowners to identify their major expenses and how they fit in with their overall monthly income. She also skillfully coaxes out where money is being frittered away that probably doesn't need to be. Whether it's eating out too much or spending money on "fun stuff," she helps families come up with a plan that (with a few tweaks to their normal spending habits) can help them save money over time and direct it to where it needs to go.
Also on Z Living: 5 Money Practices To Put You On The Path To Prosperity
On House Poor, it's pretty apparent where their money needs to go — into a home renovation or other major home repairs. These projects tend to be very costly and can drain a budget in a hurry, even if you've budgeted down to your last penny. Contractor and co-host Frank di Leo is on hand to guide these homeowners, helping temper expectations with a real-world renovation budget. He might make suggestions on different materials, for example, or even have the homeowners step in and add some elbow grease to cut down on labor costs.
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Schultz also adds some motivation for these families to stick to their plan — in the form of prize money. By the end of each episode, the families have worked with both experts to plan a course of action, save money, change their spending habits, and get into a better place financially. As a bonus, they get some of their home renovated so it's safe and functional… and totally gorgeous.
WATCH on Z Living: House Poor, which tackles homeowners with a large house debt and finds practical ways to help ease the burden. See a sneak peek here.
Tell us in the comments: Have you ever found yourself in a "house poor" situation?