On episode 2 of Money Moron, Gail Vaz-Oxlade stepped in to help Sean and Laura manage their financial situation. Watch Sean and Laura’s episode now!

We followed up with Sean and Laura to see how they fared after the episode wrapped.

Sean and Laura: Things have really improved for us. After Money Moron, we buckled down and continued to track all of our spending. Sean started logging it on his phone and has found it’s an easy step in his purchasing routine. I have continued to track my spending with a pad and paper. I fall behind from time to time, but always make entries in my spending journal and crosscheck it with my bank statements. Sean has lowered his already modest personal expenses. I have tried my best to keep my spending in line and at times, have a hard time fighting the urges of shopping for used clothing and goods for the house. But now we both talk about all of our purchasing decisions. If I make a purchase, it can’t be hidden.

After the show ended, we welcomed a dog named Doug into our home. He has brightened up our days. He is a Shih Tzu, Yorkshire Terrier mix and he as happy as can be. Sadly, last month we found out that he has a medical condition that is congenital, but not life threatening. The great news, thanks to Gail’s advice, we had saved up for an emergency fund and it wasn’t a problem.

As for our income tax repayment plan, we are only $2,000 away from fully paying off our debt! Sean has fully paid off his credit card as well, and I have maintained zero debt on my credit card.

We are currently saving up all of our extra money to go toward a down payment for a “new” used car for Sean. Though, life threw a curveball in late December. We hit a deer with my SUV and the car ended up being a write-off. With the money received from the insurance and the little that we were able to save up, we purchased another used SUV and chose to pay it off in full, rather than going into more debt. This was a joint agreement and one we both felt comfortable making together. Thanks to our prior talks and the advice we received from Gail, we were able to openly weigh out the pros and cons of our big purchase.

Next step: a trip at some point. We may use some of the show money to do so, but our decision will be focused around a reasonably priced trip. We are both happy with our new life and financial situation and we owe it all to Gail and Money Moron.  It’s one of the best things we could have done. The prize money was a great bonus, but the lessons we learned will help us continue with moving toward a life of love, happiness and financial prosperity!

Gail’s Reminder: Turn Your Trash to Treasure

Is there a room in your house that you’ve been dying to redecorate… but you don’t have the money? You can actually do a lot of work on your home without going out of pocket.

Follow Sean and Laura’s lead to save money by combining a spring clean and a new look in one. Round up all the stuff you no longer need or use… and sell it. Now use the proceeds from the sale as your budget for home improvements. The math is simple: the more old stuff you sell, the more new things you can buy.

Watch Money Moron Fridays at 9pm — and check Slice.ca on Mondays to find out how each couple is doing now!

Looking for more of Gail’s awesome advice? She answered viewers’ burning budget questions in these exclusive video clips.