Spent: Looking For Change (Documentary)


[door opens] – HEY.
– HOW YOU DOING? – GOOD, HOW ARE YOU?
– GOOD. – I OWE YOU MONEY. – YOU GONNA PAY
THE WHOLE BALANCE? – YEAH, WHICH IS 360? YEAH.
– YEP. – 1, 40, 60. – HOW MUCH WOULD YOU SAY YOU
SPEND IN EXPENSES EVERY MONTH? – THE MONTHLY EXPENSES ARE
PRIMARILY BUSINESS EXPENSES. – MISCELLANEOUS STUFF
FOR THE KIDS, BE IT FIELD TRIPS,
LUNCH MONEY– – GAS MONEY. – 60, 80, MAYBE 100 BUCKS
A WEEK IN GAS. – ELECTRICITY.
I HAVE INSURANCE. – DENTAL INSURANCE,
HEALTH INSURANCE. – MEDICINE.
– MEDICINES FOR THE KIDS. – AND AS ONE BILL
GETS PAID OFF– – THE NEXT MONTH,
IT’S MORE MONEY. – FOR FOUR PEOPLE TO GO
TO THE MOVIES, IT’S OVER 100– – 150 FOR PHONES. – A LOT OF LITTLE EXPENSES
AND THEN BIG EXPENSES. – WOULD I BE ABLE TO DO, LIKE, A SWAP OF MACHINES
TO GO TOWARDS THIS? – EVERY MONTH, WE SPEND
ANYWHERE FROM $2,800 TO $3,500. – SOMETIMES I’M LEFT
WITH HARDLY ANYTHING. – SOMETIMES IT’S NAIL-BITING. IT’S A ROLLER COASTER. – I HAVE ALL THIS MASSIVE DEBT
BEHIND ME, AND IT FEELS SO OVERWHELMING. – WE ALL WANT
TO GET THE MOST OUT OF LIFE. – [laughs] – A GREAT FAMILY, AN EDUCATION, A BUSINESS,
A HOME… – IT’S A THREE-BEDROOM/FOUR. – BUT FOR A GROWING NUMBER
OF AMERICANS, THE PRICE OF GETTING AHEAD
IS HIGHER BECAUSE OF A FINANCIAL SYSTEM THAT LEAVES MILLIONS
UNDERSERVED. – YOU JUST HAVE
TO KIND OF TUCK YOUR CHIN TO YOUR CHEST
AND KEEP GOING FORWARD. – DON’T GIVE UP
EVEN WHEN YOU WANT TO. – THERE’S NOT EVER THE OPTION
TO NOT MAKE IT WORK. I HAVE TO. – YOU READY?
– YEAH. LET’S RACE. – [laughs]
YOU GOT NO CHANCE, BABY. – I GREW UP DIRT POOR. WE WERE ON WELFARE.
WE WERE ON FOOD STAMPS. I REMEMBER THE FIRST DAY
OF SCHOOL. YOU KNOW, EVERYBODY’S
ALWAYS GOT THEIR BEST GEAR ON. EVERYBODY’S READY
FOR THE FIRST DAY OF SCHOOL, AND MY BEST GEAR CAME
FROM GOODWILL. I OFTEN LOOK BACK AT MY LIFE. FROM AN EARLY AGE,
THERE WAS A LOT OF WANTING
AND DISAPPOINTMENT. – DESPITE HIS TOUGH PAST, JUSTIN’S BUILT
A SMALL PRODUCTION COMPANY AND WANTS TO START A LIFE
WITH HIS GIRLFRIEND, BRITTANY. – NOW THAT I’M AN ADULT
AND I’M MAKING IT, I WANT TO CARRY MY WHOLE FAMILY
ON MY BACK, SO NOBODY EVER HAS
TO WANT OR WORRY. I LOVE YOU.
HAVE A GOOD DAY. SEE YOU LATER. I LOVE BRITTANY. I’M GONNA BUY A RING,
AND I’M GONNA MAKE HER MY WIFE. I’M GONNA DO THE THINGS
THAT WILL TAKE US THERE. [beep] – HE MAKES A GOOD LIVING SHOOTING VIDEOS
FOR CORPORATE CLIENTS. – I SEE A LOT OF POTENTIAL WHERE WE’RE AT
AND WHERE WE’RE GOING. – BUT WHILE BUSINESS IS GOOD, JUSTIN’S AT A DISADVANTAGE. – I GET CHECKS FROM CLIENTS,
AND I LEAVE THE LUSTER AND GRANDEUR
OF DOWNTOWN, AND I GO UPTOWN RIGHT
INTO THE CHECK CASHING PLACE. I’M DOING GOOD.
I’M TIRED, BUT I’M GOOD. – JUSTIN IS
1 OF 70 MILLION AMERICANS WHO LACK ACCESS TO THE
TRADITIONAL FINANCIAL SYSTEM. AND AS THAT NUMBER GROWS, IT INCLUDES
MORE AND MORE PEOPLE WHO ONCE LIVED
IN THE MAINSTREAM. – VERY GOOD, OKAY,
NOW WRITE THAT NUMBER DOWN ‘CAUSE WE’RE GONNA SUBTRACT. SO WE REALLY–
– 236 TAKE AWAY 149. MY TOTAL ANSWER IS 87. – [snaps fingers] YOU COOKING WITH CRISCO.
– ALL RIGHT. – TAKE YOU A MINUTE TO COOK
THE MEAL, BUT YOU DOING A GOOD JOB. YOU HAVE TO BE
YOUR CHILD’S FIRST TEACHER. I TOLD YOU, YOU COULD DO IT,
AND I BELIEVED IN YOU. YOU JUST HAVE TO APPLY YOURSELF
AND WORK HARD. MY MOM TAUGHT ME,
“PAY WHAT YOU OWE AND SAVE.” SO I SAVED. SAVINGS ACCOUNTS, 401(k)s, CREDIT CARDS
WITH WONDERFUL LIMITS. I WANTED TO HAVE SOMETHING
TO LEAVE FOR MY DAUGHTER. WE KNOW WE NEED
AN HOUR OF MATH EVERY NIGHT, AND WE KNOW WE NEED AT LEAST
30 MINUTES OF READING EVERY DAY. I WANT HER TO BE ABLE
TO FIND SUCCESS IN WHATEVER
HER DREAMS ARE. I CHOSE TO PUT HER
IN PRIVATE SCHOOL BECAUSE I DON’T WANT TO EVER
COMPROMISE ON HER EDUCATION. I LOVE YOU. HAVE A GREAT DAY.
– LOVE YOU. – BE GOOD.
GOOD LUCK ON YOUR TEST. – TIFFANY WORKED AS A NURSE TO PROVIDE FOR HER FAMILY
AND BUILT A NEST EGG
FOR HER DAUGHTER’S FUTURE. – MY 401(k)
WAS ALMOST 100,000. LIFE WAS GOOD. I WAS LIVING
THE AMERICAN DREAM. – HEY, HONEY?
– YEAH? – YOU WERE RIGHT.
THERE’S A LITTLE TOO MUCH WATER. [laughter] – WELL, THEY’LL BE CREPES. – SOME OF ‘EM WILL BE CREPES,
AND SOME WILL BE PANCAKES. – DUDE, I LIKE IT.
– [laughs] – WHEN MELISSA
FIRST MET ALEX, HE HAD A CAREER
IN THE MUSIC INDUSTRY AND WAS DOING
WHAT HE LOVED MOST. – I LOVE THIS THING. – AFTER ONE OF THE SHOWS, I WENT UP AND TALKED TO ALEX. AND WE KIND OF HIT IT OFF. – NO “KIND OF” ABOUT IT.
WE JUST HIT IT OFF. – WE HIT IT OFF. ABOUT TEN WEEKS
AFTER OUR FIRST DATE, HE ASKED ME TO MARRY HIM. JUST LIKE EVERYTHING ELSE
IN OUR LIFE, THE FAMILY THING HAPPENED
PRETTY QUICKLY. – WITH TWO KIDS
AND TWO INCOMES, ALEX AND MELISSA HAD
A HEALTHY, HAPPY HOME. – TIMES WERE GOOD.
EVERYONE WAS DOING WELL. AND THEN OUR REALITY CHANGED
OVERNIGHT. – THEIR SON WAS
DIAGNOSED WITH AUTISM. SHORTLY AFTER,
ALEX WAS DIAGNOSED WITH MULTIPLE SCLEROSIS. – IT WAS TERRIFYING,
AND THEN WHAT HAPPENED WAS, IS I FOCUSED ON THE KIDS. DOES IT MATTER?
– YES. – [chuckles]
WHICH ONE DO YOU WANT TO GET? – GO BURLINGTON.
– BURLINGTON? – GO BURLINGTON.
– NOT TODAY. NOT TODAY. THEY– WHAT ARE WE DOING TODAY, JONAH?
LOOK AT MOMMY. – STAY HOME.
– STAY HOME. – I CAN TELL YOU TO GO, AND I CAN SCHEDULE IT,
BUT IF YOU DON’T GO– – MA, YOU GOT–
HE HAS TO TEST YOUR EYES. I HAD JUST GOTTEN A NEW JOB. HE HAS TO– I HAD STEADY INCOME. BUT THEN MY MOM WAS DIAGNOSED
WITH CANCER. THAT’S MY NUMBER ONE PATIENT. HOW CAN I TAKE CARE
OF SOMEBODY ELSE WHEN I HAVE MY MOM
SUFFERING AT HOME? – TIFFANY DECIDED
TO LEAVE HER JOB, SO SHE COULD FOCUS FULL-TIME
ON HER MOTHER’S HEALTH. – I THOUGHT THAT I COULD
COME BACK TO THE WORKFORCE AND JUST PICK UP
WHERE I LEFT OFF. – THE PICTURE
OF THE FINANCIALLY UNSTABLE IS A PICTURE OF YOU AND ME BUT FOR A COUPLE OF BREAKS. – BETWEEN ALEX’S ILLNESS
AND JONAH’S DIAGNOSIS, THIS BECAME THIS HUGE EXPENSE THAT WE HAD
NO CONTINGENCY PLAN FOR, WE HAD NO SAVINGS FOR. – ALEX’S ILLNESS
AFFECTED HIS ABILITY TO WORK, AND HE WAS FORCED TO GIVE UP
HIS JOB. SO THEY DID WHAT MANY AMERICANS
DO AT THEIR BANK. – IF A BILL CAME UP
AND WE NEEDED TO PAY FOR THE POWER OR THE CABLE, WE KNEW WE COULD GO AHEAD AND WRITE A CHECK
AND IT WOULD CLEAR. – WHEN A CUSTOMER
WITHDRAWS MORE MONEY THAN THEY HAVE
IN THEIR ACCOUNT, THEY CAN GIVE
THEIR BANK PERMISSION TO COVER THAT COST
WITH AN ADDED FEE. THIS IS CALLED
OVERDRAFT PROTECTION. – BANKS WERE INCREASINGLY
LOOKING FOR PROFITS FROM THESE CLASSIC
CONSUMER CHECK ACCOUNTS. – SOME CUSTOMERS
DIDN’T MAKE MONEY FOR BANKS, SO THEY FOUND OTHER WAYS
TO MEET COSTS. – WHAT MOST BANKS WERE DOING AS A CUSTOMARY PRACTICE
WAS THIS CHECK REORDERING, OR IT’S ALSO CALLED
HIGH-LOW CHECK SEQUENCING. – WHEN ALEX AND MELISSA
PAID THEIR BILLS, THEIR GROCERY AND STUDENT LOAN
CHECKS CLEARED OKAY, BUT THE PRICE OF POWER WENT UP, AND THAT BILL EMPTIED
THEIR ACCOUNT. ONE OVERDRAFT FEE, $35. BUT IF ALL THREE DEBTS POSTED
ON THE SAME DAY, THEIR BANK HAD SOFTWARE
THAT REORDERED THEIR PURCHASES– POWER BILL FIRST,
THEN LOAN, THEN GROCERIES. THREE OVERDRAFT FEES, $105. – THE FEES BECAME SO MUCH. PAYDAY WOULD COME,
AND WE’D BE BACK TO ZERO. – EVENTUALLY,
WHAT THE BANK WILL DO IS BOOT THEM OUT OF THE SYSTEM
AND CLOSE THE ACCOUNT BECAUSE THEY FEEL LIKE THEY’RE
NOT GONNA RECOUP THEIR DEBT. – IF BANKS CAN’T KEEP
THOSE CUSTOMERS, THERE’S AN ALTERNATIVE
THAT WILL. EVERY YEAR, OVER 30 MILLION
AMERICANS USE CHECK CASHERS. AND FOR MANY OF THEM,
THE SERVICE WORKS. – THEY’RE OPEN LATER.
THEY REMEMBER MY NAME. THEY’RE OFFERING
A “WE CAN GET YOU WHAT YOU NEED RIGHT NOW”
KIND OF SOLUTION. – A HUGE AMOUNT OF BUSINESS
GETS DONE AT CHECK CASHERS BECAUSE PEOPLE CAN GET
THEIR MONEY RIGHT AWAY, AND THEY NEED
THEIR MONEY RIGHT AWAY. – WE’VE ALL HAD TO WAIT A COUPLE OF DAYS
FOR A CHECK TO CLEAR. IT’S BECAUSE
WHEN A BANK CLEARS A CHECK, IT HAS TO BE SCANNED,
VERIFIED, AND PROCESSED BY A SYSTEM THAT WAS BUILT
IN THE ERA OF ROTARY PHONES. MOST WESTERN NATIONS HAVE FOUND FASTER WAYS
TO CLEAR OUR FUNDS, BUT NOT THE U.S. SO AMERICANS HAVE TO WAIT. – THREE TO FIVE DAYS FROM NOW
ISN’T ACCEPTABLE FOR TENS OF MILLIONS
OF AMERICANS. IF YOUR LIGHT’S GONNA
GO OUT TOMORROW, YOU NEED TO BE ABLE
TO HAVE THAT CLEAR NOW. – I’M NOT EXACTLY SURE
WHEN IT’S GONNA CLEAR, AND I HAVE TO PAY MY BILLS. YOU GO TO THE CHECK CASHER. YOU GET THE MONEY BACK,
MINUS THE FEE. YOU HAVE THAT MONEY IN
YOUR HANDS RIGHT AT THAT MOMENT. – IT’S NOT
AN IRRATIONAL CHOICE. IT’S JUST NOT
A PRODUCTIVE CHOICE, AND IT’S A COSTLY CHOICE. – UNDERSERVED AMERICANS SPEND THE SAME PERCENT
OF THEIR INCOME ON FEES AND INTEREST AS THE TYPICAL AMERICAN FAMILY
SPENDS ON GROCERIES. THAT AMOUNTS
TO $89 BILLION A YEAR. – AND YOU ARE ALL SET. – AS A WAY TO AVOID FEES, ALEX AND MELISSA DECIDED
TO LIVE ON CASH. – WE HAVE CASH ON HAND, AND THAT’S THE MONEY
THAT WE HAVE. THIS IS ALL WE CAN SPEND. SO WHEN THE MONEY RUNS OUT,
THAT’S IT. – ON PAYDAY,
IT’S GETTING TO THE PLACES, SO I CAN GET
THE BILLS PAID ON TIME. – HI, HOW ARE YOU? – GOOD.
I’M HERE TO PAY THE POWER. THANKS SO MUCH. – TAKE CARE.
NOT A PROBLEM. HAVE A GOOD ONE. – BEING UNBANKED IS REALLY SOMETHING LIKE HAVING
A PART-TIME JOB. – I PROBABLY SPEND
1/4 TANK TO 1/2 TANK OF GAS DRIVING AROUND
AND PAYING BILLS. – YOU’RE GONNA SPEND MORE MONEY
AND MORE TIME DOING THINGS THAT PEOPLE
WHO ARE IN THE BANKING SYSTEM TAKE FOR GRANTED
AND USUALLY DO FOR FREE. YOU GO TO A CHECK CASHER,
YOU ARE AUTOMATICALLY HAVING TO PAY SOMEBODY
TO GET YOUR MONEY. NOW YOU WANT TO PAY A BILL. WELL, YOU HAVE A WAD OF CASH. HOW ARE YOU GONNA PAY YOUR BILL? – HOW CAN I HELP YOU?
– HOW YOU DOING? I JUST NEED TO PUT SOME MONEY
ON THIS CARD. – MONEY IS BECOMING
MORE AND MORE DIGITAL, WHICH MEANS THERE ARE
LESS PLACES THAT ACCEPT CASH. THAT MAKES LIFE
FOR THE UNDERSERVED EVEN MORE EXPENSIVE. – WE HAVE
A PREPAID DEBIT CARD, AND THE MONEY
THAT’S ON THE CARD IS REAL CASH. IT’S CASH THAT I DIRECTLY HAND
THE PEOPLE, AND THEY TURN IT
INTO FAKE MONEY FOR ME. IT’S CONVENIENT,
YOU KNOW, IF YOU DON’T HAVE A BANK ACCOUNT,
YOU CAN STILL DO EVERYTHING EVERYBODY ELSE DOES,
BUT YOU GET TAXED. – JUSTIN NOT ONLY PAYS A FEE TURNING HIS CHECKS INTO CASH
AND HIS CASH INTO A CARD, HE PAYS A FEE FOR EVERY PURCHASE
HE MAKES. – THERE’S THE TRANSACTION,
AND THERE’S A BUCK, AND THE TRANSACTION
AND A BUCK AND A BUCK ALL THE WAY DOWN THE BOARD. MAN, IT JUST KILLS YOU. VERY QUICKLY,
YOU CAN LOSE 80 BUCKS A MONTH
CASHING YOUR CHECKS AND ANOTHER 100 BUCKS A MONTH
SPENDING YOUR MONEY. – OVER THE COURSE
OF HIS CAREER, JUSTIN COULD SPEND
UP TO $40,000 JUST TO TURN HIS PAYCHECKS
INTO CASH AND ANOTHER $30,000
USING HIS CARD. – AND THAT’S JUST NOT
HOW YOU GET AHEAD. IT’S NOT HOW YOU THINK
ABOUT THE FUTURE. – THIS IS, LIKE,
FULLY HAND-STITCHED. – WHAT? – AND, YOU KNOW, I HAVE TO,
LIKE, STITCH EVERY SINGLE– I HAVE TO MAKE EVERY SINGLE HOLE
BEFORE I STITCH IT. – ARE YOU S–
– YEAH, LIKE, EVERY SINGLE ONE. – DEBBIE IS A DESIGNER
STRUGGLING TO GROW HER BUSINESS, BUT SHE IS
USED TO OVERCOMING ODDS, LIKE BEING THE FIRST
IN HER FAMILY TO GRADUATE FROM COLLEGE. – MORE THAN BEING PROUD
FOR MYSELF, I WAS HAPPY THAT
I COULD MAKE MY PARENTS PROUD. – WHEN SHE WAS 14,
SHE EMIGRATED FROM ARGENTINA
WITH HER PARENTS. HER FATHER WORKED CONSTRUCTION,
AND HER MOTHER CLEANED HOMES. – BOTH MY PARENTS ARE, LIKE,
PEOPLE WHO WORK REALLY HARD AND SACRIFICE THEIR WHOLE LIVES. – DEBBIE APPLIED
HER PARENTS’ WORK ETHIC AND PUT HERSELF THROUGH COLLEGE
WITH STUDENT LOANS, THEN STARTED HER OWN BUSINESS
MAKING LEATHER BAGS BY HAND. – MY MOM SAID,
“YOU WERE THIS TALL. “YOU CAME UP TO ME
AND ASKED ME FOR A NEEDLE AND THREAD.” SHE GAVE IT TO ME, AND I STARTED
MAKING CLOTHES FOR MY DOLLS. SO I FIGURED OUT
HOW TO SEW ON MY OWN WHEN I WAS FOUR YEARS OLD. – AFTER SIX MONTHS,
HER BAGS ARE STARTING TO SELL. – NOW I’M EXCITED. BEAUTIFUL.
– CROSSBODY. – LOVE IT, LOVE IT, LOVE IT.
– RIGHT? AND WAIT, CHECK THIS OUT.
– PERFECT. – I CAN SEE
ALL OF THESE STORES, AND I CAN SEE
MY COMPANY GROWING. I CAN SEE IT. – YOU KNOW HOW TO GET OUT,
RIGHT? – YES, I DO. – BUT BECAUSE STUDENT LOANS HAVE WEAKENED HER CREDIT, DEBBIE’S DREAM HAS A LIMIT. BANKS USE CREDIT TO MEASURE A PERSON’S ABILITY
TO REPAY A LOAN. THEY LOOK AT A LIMITED SET
OF DATA: LENGTH OF CREDIT HISTORY,
PAST LOAN PAYMENTS, AND DEBT. IF YOU’VE NEVER TAKEN OUT A LOAN
OR LINE OF CREDIT, YOU’RE INVISIBLE
TO THE CREDIT SCORING SYSTEM. – I THOUGHT
I WAS BEING RESPONSIBLE BY NOT HAVING CREDIT CARDS. AND WE ALREADY HAD
A LOT OF FRIENDS WHO WERE REALLY GETTING INTO THAT TRAP
OF MAXING OUT A CARD, SO YOU GOT TO GET
ANOTHER CREDIT CARD AND ANOTHER CREDIT CARD, AND WE DIDN’T WANT TO GO
THAT ROUTE. – NOT HAVING A CREDIT CARD MAY HAVE SAVED ALEX
AND MELISSA FROM DEBT, BUT IT HURT THEM
WHEN IT CAME TIME TO GET A LOAN. – WE TRIED TO BUY A CAR. WE WENT TO A CAR DEALERSHIP,
AND THE CAR DEALERSHIP TOLD ME, “YOU WOULD MORE LIKELY GET
A MORTGAGE THAN YOU’D BE ABLE
TO BUY A CAR.” AND WE REACHED OUT
TO A BANK TO SAY, “OKAY, LET’S SEE
IF WE CAN GET A MORTGAGE.” AND THEY SAID, “OH, YOU’D NEVER
BE ABLE TO GET A MORTGAGE. YOU SHOULD TRY TO GET A CAR.” – THERE ARE LOTS
OF FINANCIAL TRANSACTIONS ONE UNDERTAKES THAT ARE NOT
ACTUALLY TRACKED IN THE CREDIT SYSTEM. AND SO PEOPLE WHO LOOKED LIKE
A HIGH FINANCIAL RISK MIGHT NOT BE. – WHEN A BANK
LOOKS AT A BORROWER, IT DOESN’T SEE
THEIR MONTHLY BILL PAYMENTS OR RENT OR HARD WORK. IT SEES A NUMBER. AND IF THAT NUMBER’S DAMAGED
BY PAST MISTAKES, IT’S VERY DIFFICULT
TO RECOVER. – PEOPLE OFTEN JUDGE ME
ON THE CHOICES I’VE MADE NOT KNOWING THE OPTIONS
THAT I HAD. – JUSTIN HAD TO GROW UP FAST. WHEN HE WAS A TEENAGER,
HIS FAMILY FALL APART. SO AT 16,
JUSTIN WAS ON HIS OWN, PAYING RENT AND WORKING
EVERY JOB HE COULD JUST
TO SUPPORT HIMSELF. WHATEVER HIS PAYCHECK
DIDN’T COVER, HE PUT ON A CARD. – YOU CAN’T GET TO WORK, YOU
NEED TO PAY SOMEBODY GAS MONEY, YOU NEED TO GET SOME FOOD,
WHATEVER I NEEDED, LIKE, THAT HAD TO GET TAKEN CARE OF
THAT I COULDN’T DO. I WASN’T GROWN ENOUGH YET
TO ADDRESS THESE MISTAKES AND THE SITUATION
IN THE PROPER FASHION, SO, YOU KNOW, WHAT DOES
A KID DO? THEY RUN. – JUSTIN STOPPED
PAYING ON HIS DEBT, A MISTAKE HE’S BEEN WORKING
TO OVERCOME EVER SINCE. – WHEN WE SET UP SHOOTS, WE’LL HAVE TWO LIVE CAMERAS OUT
AND THE STILL, OR WE MIGHT RUN HER STILL
AS A LIVE. – AND WHILE HE’S TAKEN
HIS LIFE AND BUSINESS IN NEW AND BETTER DIRECTIONS, BANKS DON’T SEE
WHERE HE’S GOING. THEY ONLY SEE
WHERE HE’S BEEN. – IT’S JUST FRUSTRATING
BECAUSE, YOU KNOW, WE’VE WORKED REALLY HARD
FOR A REALLY LONG TIME. IT’S SO HARD TO FIND A HOUSE.
– YEAH. – WITH HIS LEASE RUNNING OUT, JUSTIN WANTS TO BUY
THE KIND OF HOME HE NEVER HAD GROWING UP. – A LOT OF THESE PLACES ARE–
I MEAN, THEY’RE LIKE THAT. THEY’RE TOWNHOMES.
THEY’RE ALL FOR LEASE. THEY’RE NEVER FOR SALE. – I CAN CHECK
ON CRAIGSLIST AGAIN. – I THINK IT’S SMARTER
TO CHECK ON CRAIGSLIST. THE HOUSE THAT WE CAN AFFORD, WE’RE NOT GONNA BE ABLE TO GET
IF SHE’S THE ONLY ONE ON THE PAPERS. IT’S NOT ENOUGH
WITH JUST HER INCOME. BUT IF I WAS ON THE PAPERS,
MY CREDIT’S SO BAD THAT IT WOULD NEGATIVELY
IMPACT US, AND WE WOULDN’T GET THE HOUSE. – SO I HAVE A COUPLE THINGS
THAT I NEEDED TO GET. SO YOU GUYS DO
THE SMALLER ORDERS TOO, RIGHT? – YEAH.
– OKAY. – DEBBIE HAS CLOSE TO $100,000
IN STUDENT LOANS. BUT EVEN THOUGH SHE PAYS
HER BILL EVERY MONTH, THE DEBT MAKES IT HARD
FOR HER TO MOVE ON. – IN TERMS OF PRICING,
I GUESS THAT MAKES A DIFFERENCE. – THESE ARE MORE EXPENSIVE.
– THEY ARE? OKAY. – MILLIONS HAVE HAD
THEIR CREDIT SCORES IMPACTED BY HAVING STUDENT LOAN DEBT, AND IT’S REALLY STUNTING FUTURE OPPORTUNITIES
FOR THE NEXT GENERATION. – YOU KNOW WHAT,
I DO NEED KNOBS FOR WHERE THIS STRAP GOES. – OKAY, THOSE ARE A LITTLE…
both: PRICIER. – BECAUSE THEY’RE MADE OUT
OF SOLID BRASS. IT’S $91.48 PER GROSS. – I WANT TO BUILD MY CREDIT. I WANT TO BE ABLE TO BE GIVEN
THE OPPORTUNITY TO HAVE SOME KIND
OF CREDIT LINE. – DEBBIE’S BANK REFUSED
TO GIVE HER A BUSINESS LOAN. INSTEAD, THEY OFFERED
A SECURED CREDIT CARD, WHICH IS LIKE A PREPAID CARD, EXCEPT THAT IT HELPS
TO BUILD CREDIT. – $34.75. – BUT THE CARD HAS
A $250 LIMIT. – HOW MUCH IS THIS ONE? – TO MAKE A SINGLE BAG, DEBBIE NEEDS
A HIDE, CORDING, ZIPPERS, MAGNETIC CLOSURES,
RIVETS, LINING, SEALING COMPONENTS,
AND LINEN THREAD. – THIS IS DECLINED. – WHEN I GO
TO GET MY SUPPLIES AND I REACH MY LIMIT, WHICH HAPPENS
ALMOST IMMEDIATELY, I HAVE TO TAP
INTO MY PERSONAL CASH. – WHICH IS
A BIG STRETCH ON A TIGHT BUDGET. – YOUR ORDER’S
GONNA COME OUT TO $110. – OKAY. – BECAUSE EVEN
AFTER DEBBIE FILLS AN ORDER, SHE STILL HAS TO WAIT
UP TO THREE MONTHS TO BE PAID. – I JUST SPENT EVERY LAST PENNY
I HAD TO MY NAME, AND NEXT WEEK,
I ALREADY HAVE STUDENT LOANS THAT I HAVE TO TAKE CARE OF. MOST PEOPLE LIVE
FROM PAYCHECK TO PAYCHECK. I LIVE
FROM HANDBAG TO HANDBAG. – ENJOY YOUR DAY.
– THANKS. THANK YOU.
– THANK YOU. – SO THIS IS GREAT, MAN. IT’S QUIET, OFF THE MAIN ROAD,
GOOD FREEWAY ACCESS. – YEAH. – MOST PEOPLE
WHEN THEY’RE BUYING A HOUSE, IT’S A COMPROMISE
BETWEEN PRICE AND LOCATION, AND FOR US BUYING A HOUSE, IT’S A COMPROMISE
BETWEEN PRICE, LOCATION, AND THE ACTUAL ABILITY
TO GET IN, TO PASS THE PROCESS
OF GETTING IN. WE CAN DO IT,
BUT IT’S NOT GONNA BE EASY. WE’VE GOT TO FIND
JUST THE RIGHT PERSON IN JUST THE RIGHT SPOT,
AND THAT MIGHT TAKE A WEEK, IT MIGHT TAKE A MONTH. IT’S NOT GONNA TAKE MORE
THAN SIX, YOU KNOW WHAT I MEAN? IT’S GONNA HAPPEN. – THINK WE CAN GET IN? – OH, IT EVEN HAS
A SHED, BABY. SO THIS IS JUST A GUESTHOUSE
OR WHAT? – THIS COULD BE,
LIKE, AN OFFICE AREA. – WHAT?
– AND THEN THAT COULD BE– – OH, MY GOD.
HOW AMAZING WOULD THAT BE? – YEAH.
– I MEAN, IF IT’S COOL INSIDE, THAT WOULD BE SO GREAT.
– I’M SURE. – I REALLY LIKE IT.
– I LIKE IT TOO. – WELL, LET’S GIVE ‘EM A CALL.
– LET’S GET THE NUMBER, YEAH. – WE’RE READY FINANCIALLY. WE’VE GOT ALL OUR DUCKS IN A ROW
AS FAR AS, YOU KNOW, PROOF OF INCOME
AND PROOF OF RESIDENCY AND PROOF OF BILLS. WE’RE READY. – HI, MY NAME’S
JUSTIN DICKENSON. I WAS CALLING
ABOUT THE HOUSE FOR SALE. [indistinct chatter on phone] – ARE YOU INTERESTED
IN A FULL-TIME POSITION? – YES, MA’AM. – WHEN HER MOM GOT SICK,
TIFFANY MADE A PLAN. SHE DECIDED TO LIVE OFF SAVINGS
AND RETURN TO WORK IN A YEAR, BUT SHE DIDN’T COUNT
ON THE RECESSION. NOW, THE ONLY JOBS
SHE CAN FIND ARE PART-TIME, AND THEY DON’T PAY HER ENOUGH
TO COVER THE BILLS. – I WAS WORKING
A TRAVEL ASSIGNMENT IN KINGWOOD, AND IT’S UP. – IT IS 50 MILES ONE WAY. – I ALWAYS SAID TO MYSELF, “I’M A NURSE.
I CAN GET A JOB. I’M EDUCATED.” I HAVE AN ASSOCIATE’S DEGREE
IN PSYCHOLOGY, A BACHELOR’S IN NURSING. THEN I HAVE AN M.B.A. – AFTER THE FINANCIAL CRISIS, WE SAW MANY MORE PEOPLE
LOSING THEIR JOBS, DEFAULTING ON DEBT. – THE CREDIT SCORES,
THEY JUST START DWINDLING BECAUSE I HAD TO DECIDE
WHAT WAS MORE IMPORTANT. WHEN YOU’RE THE CARETAKER
FOR SOMEBODY, THAT’S AN EXPENSIVE TOLL. BUT EVERY DAY, YOU NEED TO BE
TAKING CARE OF YOUR FAMILY. – PICK ONE.
– OKAY. – I–OKAY.
– [stutters] – I KNOW–
I KNOW THIS IS DIFFERENT. – DON’T KNOW. – WHEN ONE OF YOUR CHILDREN NEEDS MORE SUPPORT
THAN YOU ORIGINALLY EXPECTED, THE ONLY THING YOU CAN DO IS PROVIDE FOR HIM
THE BEST CARE YOU CAN FIND,
THAT YOU CAN AFFORD. – TO GET ACCESS
TO A SCHOOL PROGRAM THAT WOULD MEET HIS NEEDS, JONAH FIRST HAD TO GET
AN EXAM. – WE REALLY NEEDED A WRITE-UP
TO MAKE SURE THAT JONAH GOT INTO A PROGRAM
THAT WAS REALLY GONNA SUIT HIM. A LOT OF
THE DEVELOPMENTAL PSYCHOLOGISTS WERE $2,500 TO DO THIS REPORT. – WITHOUT ACCESS
TO CREDIT AND NO SAVINGS, ALEX AND MELISSA HAD NO WAY
TO COVER THE COST. NEARLY HALF
OF ALL U.S. HOUSEHOLDS LIVE PAYCHECK TO PAYCHECK
AND COULD NOT COME UP WITH $2,000 IN AN EMERGENCY. – IT’S INCREASINGLY
MORE MIDDLE-CLASS PEOPLE TOO. SUDDENLY,
THEY’RE IN A SITUATION WHERE THEY CAN’T AFFORD
TO KEEP A BUFFER IN THEIR ACCOUNTS
THE WAY THEY USED TO BEFORE. – I HAD DEPLETED MY 401(k). THAT’S HOW I PAID THE CAR NOTES,
THE MORTGAGE. AND IF YOU’RE STEADY
TAKING, TAKING, TAKING, AND NOTHING COMING IN, IT EVAPORATES. SO YOU GOT TO PAY ATTENTION
TO YOUR NUMBERS. ARE YOU ADDING OR SUBTRACTING? THE PROCESS IS DIFFERENT. WHEN YOU’RE SUBTRACTING,
THE NUMBER IS GOING TO BE LESS. WHEN YOU’RE ADDING,
THE NUMBERS GET BIGGER. MY BACK WAS
AGAINST THE WALL, AND I HAD BORROWED
AS MUCH AS I THOUGHT I SHOULD BE BORROWING
FROM FRIENDS AND FAMILY. WHAT ARE MY OTHER OPTIONS? – IT USED TO BE
YOU COULD WALK INTO A BANK OR TO A FINANCE COMPANY AND GET A $500 UNSECURED LOAN JUST ON YOUR SIGNATURE. BUT THAT PRODUCT DOESN’T
REALLY EXIST ANYMORE. FINANCE COMPANIES
HAVE ESSENTIALLY GONE AWAY. SO WHAT FILLED THE GAP
DURING THAT TIME? – PLUS, YOU SKIP…
– WE’VE GOT THE CASH! – GIVING YOU UP TO 30 DAYS.
– CASH– all: WE’VE GOT THE GREEN! – THEY’RE EASY TO IGNORE UNTIL
YOU ACTUALLY NEED THE MONEY. – GETS YOU THE MOST CASH. – IT WAS JUST
ONE OF THOSE THINGS. LIKE, YOU SEE
THAT IT’S THERE, BUT I DIDN’T REALLY KNOW
WHAT IT WAS. – I WAS IN A STATE
OF DESPERATION. OF COURSE I SEE
THIS COMMERCIAL THAT LOOKS LIKE
IT WILL FIX ALL OF MY PROBLEMS. – IF YOU’VE GOT YOUR TITLE,
WE’VE GOT YOUR BUCKS! – LET TITLEMAX TURN IT
INTO CASH. – HIGH CASH LOANS CAN APPROVE
A LOAN FOR YOU IN JUST FIVE MINUTES. – IN THE NEIGHBORHOOD
WE LIVED, THERE WERE PAYDAY LOAN PLACES
ALL OVER THE PLACE. – THEY CALL IT
A PAYDAY LOAN BECAUSE IT’S DESIGNED
TO BE PAID BACK ON THE BORROWER’S NEXT PAYCHECK. – “IF YOU HAVE A JOB
AND YOU HAVE A PAYCHECK, “YOU KNOW, COME IN.
SIGN UP. “WE’LL GIVE YOU
THIS PAYDAY LOAN. AND THEN NEXT PAYDAY,
YOU PAY US OFF.” AND IT WAS LIKE, “OKAY.
WELL, LET’S DO THAT.” – TITLE LOANS
ARE LIKE PAYDAY LOANS, EXCEPT INSTEAD OF USING
YOUR PAYCHECK AS COLLATERAL, YOU PUT UP THE TITLE
TO YOUR CAR. – THE COMPANY
WILL GIVE YOU A LOAN BASED ON THE VALUE
OF YOUR VEHICLE, AND IF YOU DON’T PAY IT BACK,
THEN THEY TAKE YOUR CAR. – I’M LIKE, “WELL,
I’M THINKING ABOUT TAKING OUT “THIS LOAN ON MY CAR. HOW MUCH DO YOU THINK
IT’S WORTH?” “WELL, LET’S GO OUTSIDE
AND TAKE A LOOK AT IT.” AND THEN THEY SAY, “OH, YOU
SHOULD BE ABLE TO GET $5,000.” I SAY, “OKAY.
WE’LL DO THIS. “IT’LL TIDE ME OVER,
AND WHEN I START WORKING, WE’LL JUST PAY IT OFF.” WHEN I FIRST GOT
THE TITLE LOAN, PAID OFF THE BILLS,
RENT, IT WAS LIKE
A LITTLE KICK START FOR ME. – IN THE MOMENT
WHEN WE NEEDED IT, I WAS GLAD THAT IT WAS THERE. BUT THEN YOU GET IN A CYCLE
WHERE YOU CAN’T GET OUT OF IT. I WOULD GET MY PAYCHECK, BUT NOW, I’M STUCK
WHERE I WAS BEFORE WHERE I DON’T HAVE THAT MONEY, AND WE WERE LIVING TOO CLOSE
TO THE EDGE TO NOT HAVE IT. SO WE WOULD JUST RE-LOAN. – IF THE OPTION IS
EITHER PAYING OFF THE LOAN OR PAYING TO EXTEND IT, AMERICANS ON THE EDGE
DON’T HAVE A CHOICE. WEEK AFTER WEEK,
THE ACCOUNT COMES DUE, BUT FOR SOME,
THE FEE IS MORE AFFORDABLE THAN PAYING OFF THE PRINCIPAL, SO THE LOAN IS ROLLED OVER. IT’S HOW,
OVER THE COURSE OF TIME, A SHORT-TERM LOAN CAN BECOME
A LONG-TERM CRISIS. BUT EVEN AS THE FEES PILE UP, THE ORIGINAL LOAN IS
NEVER PAID OFF. – AND SO THE SPIRAL BEGINS. – THOSE LOANS ARE BASED UPON THIS FALSE IDEA
THAT ALL SOMEBODY NEEDS IS A LITTLE BIT OF MONEY
TO GET TO THEIR NEXT PAYCHECK. THAT’S NOT WHAT’S HAPPENING. WHAT’S HAPPENING IS THAT PEOPLE
AREN’T ABLE TO MAKE ENDS MEET, AND GETTING A LOAN
THIS PAY PERIOD DOESN’T MAKE THAT PROBLEM
GO AWAY. IT ONLY MAKES IT
A LITTLE BIT WORSE THE NEXT PAY PERIOD. – 80% OF BORROWERS
ARE FORCED TO RENEW THEIR LOAN
AFTER TWO WEEKS. – IF YOU’RE IN A SITUATION
WHERE YOU HAVE TO GET A PAYDAY LOAN,
YOU DON’T HAVE THE MONEY. YOU DON’T. YOU KNOW,
IT’S TWO WEEKS TO PAYDAY, AND I’VE GOT $8, AND I GOT TO MAKE THAT STRETCH. – I GOT A JOB IN DALLAS. WHILE I WAS THERE,
ONE OF MY PAYMENTS WAS DUE. SO I CALLED UP. THEY WERE LIKE, “WE CAN’T TAKE
A PAYMENT OVER THE PHONE. YOU HAVE TO COME IN.” I SAID, “WELL, CAN I GO TO ONE
OF YOUR SISTER COMPANIES?” “NO, YOU HAVE
TO COME TO THIS STORE.” SO BY THE TIME I GET BACK,
FEES HAVE KICKED IN. – IT WAS A ROUTINE. I’D GO AND GET THE LOAN, PAY WHATEVER BILL IT IS, AND NOW IN TWO WEEKS,
I OWE THEM THE MONEY AGAIN. – AND THEN THEY TELL YOU, YOU CAN’T MAKE PARTIAL PAYMENTS. “IF YOU CAN’T PAY
THE WHOLE AMOUNT, THEN WE’RE NOT
TAKING ANYTHING.” – I’VE GOT 1/4 TANK OF GAS. WE WANT TO CELEBRATE
GABRIEL’S BIRTHDAY AT MY SISTER’S TOMORROW, SO THAT’S WHAT THAT 1/4 TANK
OF GAS IS FOR. IF WE NEED ANYTHING ELSE,
WE HAVE TO WALK. – INTEREST AND FEES IS STEADY,
GETTING STACKED ON, AND IT’S GETTING HIGHER
AND HIGHER. YOU ALWAYS TRYING TO RUN
TO THE FINISH LINE, BUT THE FINISH LINE NEVER COME. – WE HAVE YET TO BE ABLE
TO PAY THAT OFF IN FULL, AND SO OVER THE COURSE
OF TIME, WE’VE SPENT ABOUT $1,700. – HOW MUCH
WAS THAT LOAN ORIGINALLY? – UM, 450. – I GOT SOME GOODIES. – THIS IS SO COOL.
– OH, YEAH. I DIDN’T EVEN SHOW YOU THAT ONE.
– I LOVE THIS ONE. – YOU WANT TO KEEP IT?
– YES. – OKAY.
– I WANT IT. I WANT IT ALL. – DEBBIE IS MEETING
MORE AND MORE BOUTIQUES WHO WANT TO SELL HER BAGS. FOR ANYONE ELSE,
THIS WOULD BE GOOD NEWS. – IT’S JUST BEEN,
LIKE, EVOLVING. – I COULDN’T AFFORD TO HAVE,
LIKE, A BIG CONTRACT COME IN AND TELL ME, LIKE,
“I WANT THIS MANY BAGS.” – WHAT ABOUT THE CHAIN ONE? – THIS IS THE LAST OF IT. – OKAY.
– [sighs] – ‘CAUSE OF, LIKE,
THE MATERIAL? – I THINK I MAY HAVE ENOUGH
TO MAKE, LIKE, MAYBE ONE OR TWO MORE. – AND THEN… – AND THEN–
– MORE CLUTCHES? – THIS IS THE LAST OF IT,
ABSOLUTELY. – OKAY. – TODAY, SHE HAS MORE ORDERS
THAN SHE CAN HANDLE. – THE REALITY OF IT IS,
I WON’T BE ABLE TO PRODUCE IT. I GOT TO DO, LIKE,
THE NUMBERS AND SEE HOW MUCH IT COSTS ME. IT’S SCARY SOMETIMES
‘CAUSE IT’S– I’M TRYING TO BUILD SOMETHING. I JUST DON’T HAVE THE MEANS. – WITHOUT CREDIT
OR THE CASH TO FUND THE ORDER, SHE HAS NO CHOICE
BUT TO TAKE ANOTHER JOB. – HELLO. HI, COME IN.
– HI. HI, HI.
JUSTIN. – HOW ARE YOU?
– GOOD TO MEET YOU. – JUSTIN AND BRITTANY
NEED TO CONVINCE A SELLER THAT THEY ARE
CREDIBLE HOME BUYERS. – THANK YOU FOR HAVING US.
– I REALLY LIKE THE FRONT. – IT’S A GREAT SPOT.
– THIS IS NICE. I LIKE IT A LOT. – WE HAVE TO FIND INDIVIDUALS
WHO ARE WILLING TO WORK WITH US WHO CAN TRUST THE LAST FEW YEARS’ HISTORY
OF INCOME AS OPPOSED TO THE LAST
TEN YEARS’ HISTORY OF CREDIT. – WELL, IF IT’S STILL
ON THE MARKET IN A COUPLE OF WEEKS…
– RIGHT. – THEN THEY’LL–
I’M SURE THEY’LL BE MORE WILLING TO LISTEN TO AN OFFER.
– RIGHT. – BUT AT THIS POINT,
IT’S PROBABLY A LITTLE TOO SOON. – YEAH. – I NEVER THOUGHT
I’D SEE MYSELF AT A PAWN SHOP
UNLESS I WAS BUYING SOMETHING ‘CAUSE IT’S A PLACE
TO GET SOME GREAT DEALS, NOT REALIZING THAT THOSE DEALS
WERE OTHER PEOPLE’S DREAMS. THERE I WAS,
SELLING MY DREAMS. – I WOKE UP. “THAT SOUNDS LIKE MY ALARM
ON MY CAR.” BY THE TIME I GOT THERE,
IT WAS A TOW TRUCK TAKING THE CAR ON
AROUND THE CORNER. THIS IS HOW I GET TO WORK. – AFTER A 14-HOUR DAY,
IT DOESN’T END. REGARDLESS OF HOW MANY NIGHTS
I DON’T SLEEP, IT’S JUST NOT ENOUGH. – THIS SUCKS, BABY.
– YOU’RE TELLING ME. – REALLY TRYING TO BETTER
MY LIFE, BECOME A DIFFERENT PERSON. IT’S HOPELESS. – I ENDED UP HAVING TO TAKE HER
OUT OF PRIVATE SCHOOL. “MOMMY, WHY ARE WE NOT GOING
TO THIS SCHOOL ANYMORE?” THAT HURTS. – THESE SITUATIONS
HAVE TAKEN FAMILIES THAT HIT A BUMP
IN A ROAD AND PULLED THEM DOWN
INTO A MAJOR CRISIS. PEOPLE END UP AT THE DOORS
OF OUR SOCIAL SERVICE PROVIDERS. – WHAT HAPPENS WHEN A FAMILY
RUNS OUT OF OPTIONS? WHAT HAPPENS WHEN A MOTHER
CAN’T GIVE HER DAUGHTER THE EDUCATION SHE NEEDS? WHAT HAPPENS
WHEN AN ENTREPRENEUR GIVES UP HER DREAM? OR THE DOOR CLOSES
ON A YOUNG COUPLE’S FUTURE? THE FINANCIAL LANDSCAPE
IS CHANGING AND CHANGING FAST. ONE IN FOUR HOUSEHOLDS
ARE UNDERSERVED. MANY OF THEM ARE
HARDWORKING FAMILIES, SERVICEMEN AND WOMEN,
AND COLLEGE GRADUATES. IN THE LAST FIVE YEARS, BANK BRANCHES HAVE BEEN CLOSING
AT RECORD RATES, WHILE CHECK CASHING
AND PAYDAY LOANS ARE THRIVING. – AS YOU GET CLOSER
AND CLOSER TO THE EDGE, THERE ARE FEWER PLACES
FOR PEOPLE TO GO. – BUT THERE IS
SOME REASON FOR HOPE. A NEW GENERATION IS USING
INNOVATION AND TECHNOLOGY TO REIMAGINE THE WAY WE BANK. IN SAN FRANCISCO,
A BUSINESS IS HELPING PEOPLE POOL THEIR MONEY TOGETHER
AND LEND TO EACH OTHER, SO FAMILIES HAVE
A BETTER OPTION WHEN MONEY GETS TIGHT. IN NEW YORK,
THERE’S AN ORGANIZATION THAT’S GIVING AFFORDABLE LOANS
TO GROWING BUSINESSES, SO ENTREPRENEURS CAN SEE
THEIR IDEAS COME TO LIFE. AND OUTSIDE ATLANTA,
A COMPANY IS BUILDING A NEW TYPE OF CREDIT SCORE USING RENT
AND MONTHLY BILL PAYMENTS, SO UNDERSERVED AMERICANS HAVE
A PATH TO THE MAINSTREAM. – IT’S ABOUT HAVING
A RANGE OF OPTIONS AVAILABLE THAT ENABLE PEOPLE TO SPEND, SAVE, BORROW,
AND PLAN. – BUT FOR TOO MANY OF US,
WHEN WE NEED IT THE MOST, GOOD OPTIONS AREN’T AVAILABLE. TENS OF MILLIONS
OF HARDWORKING AMERICANS ARE TRYING TO REACH
THEIR POTENTIAL. AND THEY’RE WAITING, WANTING, BELIEVING IN A SIMPLE PROMISE THAT IF THEY STRIVE FORWARD, THEY WON’T BE HELD BACK. [James Vincent McMorrow’s
We Don’t Eat]
♪ ♪ – ♪ IF THIS IS REDEMPTION ♪ ♪ WHY DO I BOTHER AT ALL? ♪ ♪ THERE’S NOTHING TO MENTION ♪ ♪ AND NOTHING HAS CHANGED ♪ ♪ STILL I’D RATHER BE WORKING
FOR SOMETHING ♪ ♪ THAN PRAYING FOR THE RAIN ♪ ♪ SO I WANDER ON ♪ ♪ TILL SOMEONE ELSE IS SAVED ♪ [laughter] – OH, MICHAELA,
THIS IS AWESOME. – ♪ UNDER A MOUNTAIN ♪ – I AM SO PROUD OF YOU. – ♪ SWAM IN THE OCEAN ♪ ♪ SLEPT ON MY OWN ♪ ♪ AT DAWN I WOULD WATCH ♪ ♪ THE SUN CUT RIBBONS
THROUGH THE BAY ♪ ♪ I’D REMEMBER
ALL THE THINGS ♪ ♪ MY MOTHER WROTE ♪ ♪ THAT WE DON’T EAT ♪ ♪ UNTIL YOUR FATHER’S
AT THE TABLE ♪ ♪ WE DON’T DRINK ♪ ♪ UNTIL THE DEVIL’S
TURNED TO DUST ♪ ♪ NEVER ONCE HAS ANY MAN ♪ ♪ I’VE MET BEEN ABLE TO LOVE ♪ ♪ SO IF I WERE YOU
I’D HAVE A LITTLE TRUST ♪ ♪ 2,000 YEARS ♪ ♪ I’VE BEEN IN THAT WATER ♪ ♪ 2,000 YEARS ♪ ♪ SUNK LIKE A STONE ♪ ♪ DESPERATELY REACHING
FOR NETS ♪ ♪ THAT THE FISHERMEN
HAVE THROWN ♪ ♪ AND TRYING TO FIND ♪ ♪ A LITTLE BIT OF HOPE ♪ ♪ ME, I WAS HOLDING ♪ ♪ ALL OF MY SECRETS
SOFT AND HID ♪ ♪ PAGES WERE FOLDED ♪ ♪ THEN THERE WAS
NOTHING AT ALL ♪ ♪ SO IF IN THE FUTURE ♪ ♪ I MIGHT NEED MYSELF
A SAVIOR ♪ ♪ I’LL REMEMBER ♪ ♪ WHAT WAS WRITTEN
ON THAT WALL ♪ ♪ ‘CAUSE WE DON’T EAT ♪ ♪ UNTIL YOUR FATHER’S
AT THE TABLE ♪ ♪ WE DON’T DRINK ♪ ♪ UNTIL THE DEVIL’S
TURNED TO DUST ♪ ♪ NEVER ONCE HAS ANY MAN ♪ ♪ I’VE MET BEEN ABLE TO LOVE ♪ ♪ SO IF I WERE YOU ♪ ♪ I’D HAVE A LITTLE TRUST ♪ ♪ SO WE DON’T EAT ♪ ♪ UNTIL YOUR FATHER’S
AT THE TABLE ♪ ♪ WE DON’T DRINK ♪ ♪ UNTIL THE DEVIL’S
TURNED TO DUST ♪ ♪ NEVER ONCE HAS ANY MAN ♪ ♪ I’VE MET BEEN ABLE TO LOVE ♪ ♪ SO IF I WERE YOU, MY FRIEND ♪ ♪ LEARN TO HAVE
JUST A LITTLE BIT OF TRUST ♪

39 comments on “Spent: Looking For Change (Documentary)”

  1. harvard james says:

    A lot to think about. How does a college education benefit if you have to spend most of your adult working life to pay off the debt. 40 years ago, you could get a part time job to pay for tuition and books at the local college. I graduated high school in Detroit Michigan in 1975. First semester 12 credit hours at wayne state university was 285.00…that same 12 credit hours today is 3400.00 and that does not include books and supplies. How do you justify the cost? The sad part is the cost is much higher if you don't go to college. What do you do if college is not an option…this is just only one example of debt vs life…

  2. Alex Buisson says:

    Great documentary!

  3. Robin Marie says:

    Weird how this documentary is sponsored by American Express.

  4. El Guapo says:

    lesson learned: don't have children, live in an RV. when you don't have to pay rent you have a lot of money left over

  5. It's Dark Out There (ง'̀-'́)ง says:

    We seriously need a "Where are they now" segment

  6. Alexander Stone says:

    Complicated driver explore xtnffxn state ultimately sun.

  7. Laura Jacobs says:

    Portray act adopt mode cluster complicated brother find.

  8. Nina Travis says:

    I can tell you now, one way to cut down on power is to UNPLUG any and everything that is not being used. Lamps, toaster oven, microwave, TV's. It makes a difference. Even though these items are off, they are still using reserved power.

  9. Proud Infidel says:

    My teacher is making me watch a young turk video. This is where a Connecticut education as taken me.

  10. Tj Azton says:

    Everyone needs to watch this but I learned this when I was young because I relied on myself to learn how to use money instead of just listening to what everyone is saying.

  11. aaron osenkarski says:

    Young Turks are a joke!

  12. Lena Michiels says:

    Feedback available assert roll champion race consciousness juror.

  13. Tiarne long says:

    I need to pay my bills "electricity & the cable"

  14. destuffilator says:

    "lacks access to the traditional financial system"? As in, "I can't get a bank account? I've heard that lame-assed excuse too many times. Most people who don't get bank accounts don't get one because they don't want creditors to get a hold of their money. Fact. Anyone can get a bank account if they want to. I only make about $30K a year. I have a car payment, rent, cell phone, insurance, utilities, groceries, just like anyone else. And I live in a very expensive city. But I'm also able to put money in a savings account. Gee, how can I afford to do that? I live beneath my means. I don't suffer, and I don't do without, but I also don't piss my money away (too much). If you're broke, dollars to donuts it's because you're living stupid.

  15. Julius Wagner says:

    Home but approach start white activity fire.

  16. cine pobre says:

    get out of the USA before it's too expensive to breathe!

  17. Omar Belinfanti says:

    Dave Ramsey could help these folks.

  18. ThatNewsGuy South Africa says:

    This documentary should have been called bad life decisions. It's quite sad the lengths that people have to go just to get by but there is also a problem with the way that all these people go about their financial decision making.

  19. Dave Shaffer says:

    Learn to live below your means and stop pissing money away.

  20. Anticapitalist X says:

    Another reason to love the United Capitalism of America.

  21. Ivica Kolic says:

    That DEBIL logo is bugging me. It means MORON in Slaven languages, and WEAK in Spanish. She should change that first and maybe her company has a future.

  22. Lisa says:

    The system is rigged.

  23. Ch Salman Naseer says:

    Credit scores are like virtual virginity which you lose without knowing it.

  24. Ch Salman Naseer says:

    US is worst in heath and education as compare to Germany

  25. knpstrr says:

    Spending more than you make (whether bad luck of medical issues, or something else) results in a tough life, no doubt about it. Subjecting yourself to these fees on top of it all is just crazy. On top of that, wanting loans and credit isn't the solution either.

    The "rub" in this film is that none of these people were forced to take on these loans, they chose to do so. What was their alternative? Bankruptcy? Negotiating payment plans? Charity? etc.

  26. Flat Earther says:

    Marxist propaganda

  27. pookoos says:

    I really feel for everyone in this doc. I've been impoverished and desperate myself (hitchhiking 26 miles to work every day, 36 cents in my bank account, dodging the landlord etc) It's pure misery that leaves you with something akin to post traumatic stress. However, I can't help but think that a teeny bit of honesty might be missing from this piece. It is true that the system is impersonal and merciless and downright Kafkaesque at times…but I also think it's very hard for most people to own up to the full folly of their choices.

  28. Timothy Geiss says:

    I totally understand. Payday rolls around, i pay all my bills (rent, electric, gas, water, cell phone, car insurance, car payment) and I have just enough left to buy groceries and gas and then I'm out until next pay day only to repeat. Sometimes i have enough to by my kids a few toys and clothes but never for myself.

  29. Joshua Dunne says:

    I need a dollar, dollar, dollar is what I need. Hey hey. I need a dollar, dollar, dollar is what I need

  30. Maria Jackson says:

    The only advise my grandparents gave me was to always have some cash saved away, and to never get a loan in my live.
    Sometimes times may be hard but you stretch the money as much as you can most days to get by, and try to avoid the loans at all costs.

  31. Jimmy Gentile says:

    Ask a CEO – you know they have the money.

  32. Guido de Gooijer says:

    4:30 that's great parenthood and an excellent rule for the rest of your life.

  33. Bad.Neeners. Brown says:

    Public banking reduces fees and what fees they do collect are reinvested back in the local community.

  34. maltin wash says:

    i got real funds from [email protected],com ., ., . . .

  35. elysha white says:

    who else had to watch this for a class? lol

  36. leonardimas1 says:

    the american way of live? com to europe,i live in swiss, we have only 3.1% unemployment, we have healthcare,we you can't afford it the state provide for that,when you loose your job,you have the right of 2 years unemployment insurance,when you don't find a job after this time,the state pay your home interest,healthcare,and give you ca.1000USD p.capita every month untill you find something. you have to payback this money only when you have a new job which pay is above 65'000 p.year.

  37. Dan C Russell says:

    Capitalism: There are those that eat and those who get eaten!

  38. Bernice Panders says:

    I am literally dying, in my 30s, of TERMINAL STRESS heart failure, have MS, 8 failed back surgeries, and a dozen other debilitating symptoms. I have had 2 massive heart failures already, and have an imminent terminal diagnosis, thanks to one thing: Not being allowed to get a VEHICLE OF ANY KIND, so I can move to where my necessary meds are not taking up HALF my disability income, where I can see the specialists who can treat me & not ignore me!!
    It is virtually IMPOSSIBLE TO SURVIVE on disability if you've never been allowed to get a job, because you were blessed to be born disabled in the richest country in the world!! Where the most greedy, self-absorbed, lazy, lying, hypocritical, racist, sexist, corrupt leader this nation has ever seen, can spend more on one meal than I am expected to exist on per YEAR!! Where he's made the deepest cuts to medicaid, DHS, HUD & food stamps than any POTUS in history, and I've never in my life had to go without so much food, toiletries, meds, etc.
    America's fake facade of being some 'land of the dream life' BS is a dangerous web of lies, snaring millions & millions of people into an endless hell, some of us are giving everything to put an end to…

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