This LA Times article tells us the tale of the Furry family. They’re a married couple with a young daughter who haven’t paid their mortgage since September, despite splurging on a luxury getaway to Santa Barbara recently – he works when he can as a grip & lighting technician on films, she’s a stay-at-home mom that home schools their daughter. Lisa, the wife, spends $275 monthly on beauty treatments, and they continue to shop at Whole Foods. Their spending far exceeds their income – their financial planner estimates that even without counting their mortgage payments, they are still spending $1,000 more a month than they are bringing in.
This family is a prime example of another family suffering the hangover of easy credit – while I can see exactly how they got to this point, I’m surprised that filing for bankruptcy a year ago wasn’t enough of a wake-up call for them. The article ends with Lisa finding part-time employment, and that they have begun using the envelope system. I hope it works for them – if not, it would be interesting to see what would happen next.