Christian Slater's abdominal muscles, the son of Dr. Evil, and Oscar the Grouch all did their part for the U.S. economy when ABC’s star-studded attempt at bringing practical personal finance advice to the nation premiered Friday night with breathless anticipation and a lot of skepticism.
Would it be entertaining and educational to hear what Antonio Banderas thinks we should do with our money? Or would hearing the Jonas Brothers explain the stock market seem trivial and mind numbing (but somehow dreamy)?
MainStreet, along with a group of personal finance bloggers and other industry professionals, watched the special, dubbed Un-Broke, (Stock Quote: DIS) while posting reactions in real time via Twitter.
You can view all the comments by searching for the #unbroketv hashtag, but here is a collection of some of our favorites:
- @Green_Panda: According to Un-Broke the avg. American has $10k in cc debt with 5 cards.
- @singlema: Buy a house within your means, get adequate insurance & have a rainy day fund = financially secure.
- @mainstr: Antonio Banderas says he has an emergency fund of 6 months expenses set aside - muy caliente, Zoro!
- @stephonee: I think 30% of gross for housing is fine if you're relatively debt free. If you have high interest debt, it should be lower.
- @MMarquit: I really don't like the 1/3 gross rule. Safer to do 1/3 net.
Others took issue with the lack of “tough choices” being demanded from viewers in financial trouble:
- @MattJabs: I want them to say something outside the box, like "sacrifice something like your cable TV then put difference in savings"
Some disagreed with the constant reminder that you should only have one credit card at the most:
- @frugalhero: Having 2 credit cards would be safer than just one. Never know when something will go wrong with the one.
- @singlema: I don't agree with having only 1 credit card. When that CC does something 2 screw you over, what are your options? Bend over?
- @mainstr: Stocks Oscar the Grouch holds: Enron, WorldCom, Lehman Bros, WaMu