Opportunity Knocks

>> Major funding for "Opportunity Knock$" is provided by the National Council for Financial Opportunities, a nonprofit dedicated to reducing poverty and creating economic mobility by breaking down systematic barriers, increasing equitable access to capital, and making opportunity accessible to all.

Its programmatic areas of focus include financial resiliency, financial accessibility, and income adequacy.

Additional funding provided by the Wells Fargo Foundation, which seeks to strengthen historically marginalized communities by investing in pathways to economic advancement and generational wealth.

Additional funding for "Opportunity Knock$" provided by Balance... and Callahan & Associates.

Every day, millions of Americans must make the choice between paying rent... >> We're behind on rent.

>> We got to pay the mortgage.

>> ...or buying groceries.

>> I live paycheck to paycheck, and sometimes that doesn't even cut it.

>> So, we got spaghetti with no meat.

Are you serious?

>> "Opportunity Knock$" is back with our three esteemed coaches and six new underestimated families to create a personalized journey... >> Are you gonna do what I ask you to do?

>> ...that everyone watching can benefit from.

>> I'm just hopeful that I won't always be struggling.

>> Through these families' experiences... >> This is an emergency.

>> ...you will see that a better life is possible with the tools that they are providing.

>> And we're gonna turn your life around.

Like you have no idea.

>> Are the obstacles that these families are facing too much?

>> Your mom is sick, too?

>> A loan that I obtained online -- interest rate's like 600% something.

>> What I'm seeing is almost 700%.

>> You're looking at bankruptcy.

>> Or will their coaches help them open the door when opportunity knocks?

>> Well, we're having spaghetti.

Who's hungry?

Okay, guys, let's come sit down at the table, Giovanni and Val.

My name is Nicole Landini, I'm from El Paso, Texas, and I have two kids, Valentina and Giovanni.

>> I'm not hungry!

>> Who doesn't want salad?

And who wants salad?

>> Salad, please.

>> I was married for eight years.

I never anticipated being a single mom, but here we are.

>> You're gonna eat spaghetti?

>> Spaghetti, please.

>> My kids are my priority.

So, I rent this house from my parents.

My mom was a single mom in this house, as I am now a single mom in this house.

>> I want bread.

>> Okay, we'll get you bread.

>> Can I have a drink, please?

>> It's really helpful to have my parents here because they're my support system.

>> What's going on with you?

>> I'm tired of living paycheck to paycheck, and it's kind of tight.

So I signed up for this program, and I have a financial coach coming to help me.

His name is Louis Barajas, and he's really successful.

When I was married, I was a stay-at-home mom.

I didn't have to worry about finances.

Now I am the receptionist at my parents' auto repair shop.

I live paycheck to paycheck, and sometimes that doesn't even cut it.

I'm using credit cards, paying off the minimum, only to use those credit cards again.

>> When did you sign up for this?

>> A couple months ago.

>> Yeah?

Have you met him yet?

>> No, I haven't met him yet, but I meet him next week, so I'm really nervous, but I'm also super excited to see what the outcome is with that.

My paychecks cover all of the rent, all of the utilities.

By the time I pay my main bills, my check is gone.

So I utilize those credit cards a lot for gas, for groceries, especially at the end of the month.

>> Well, I'm glad because I do see how you're struggling with -- financially.

Sorry, I don't mean to get emotional, but...

It would be such a blessing to see you continue moving forward instead of staying where you're at.

Move forward.

I think that would be a blessing for the kids, for you, for your whole situation.

>> Yeah, it is a blessing.

I'm new to credit card use.

When I was married, I didn't have not one card.

I got divorced, and I had to get all these cards to help me live.

My eventual goal is to not live at the house, you know, that you guys help me with.

And I would eventually like to leave the shop and have my own job and my own home that I bought for myself, and just be out of the rut that I'm in right now.

I know that I'm in the financial space that I'm in because of the divorce that I went through.

I don't think anyone goes into marriage thinking they're going to get a divorce or separated.

I got a divorce because I was in a relationship with someone who just had a lot of anger issues.

He was mentally and emotionally abusive.

It was something I had to get out of because I didn't want to live like that forever.

I'm very nervous, but also very excited to see the outcome 'cause it'll be good.

I'm excited about it.

>> I'm excited to hear what he says.

>> You're making shrimp and chicken lo mein?

>> Shrimp and chicken lo mein.

>> What do you need me to do?

>> First step, throw away the peas.

[ Laughter ] >> I'm Donnell.

>> I'm Tanda.

And we are the Johns.

>> And you can prep the chicken, too.

>> Okay.

We have a young son, Donnell Jr.

He's a college student.

He's getting his master's degree.

And we live in Washington, DC.

We signed up for this opportunity to get a coach.

>> Coach for what?

>> To go over financial stuff for us so we can learn about how to properly manage our money.

I served 26 years in the United States Army.

I retired as a command sergeant major.

>> I'm a little nervous.

[ Laughter ] I am a high school teacher.

I teach biology and anatomy and physiology at a local high school.

>> It's gonna be kind of painful.

[ Laughter ] >> I know.

Looking at your actual spending habits.

>> Yeah, somebody that's looking at our spending habits.

>> No, I'm talking about you looking at your spending habits.

>> Oh, I gotta look at my spending habits?

>> Yes.

>> What are you talking about?

Get off my -- my shoe issue.

I think we all have a shoe problem.

>> Ish-shoe?

[Issue] >> Huh?

>> Ish-shoe?

[Issue] >> It's an issue?

[ Laughter ] We don't have a shoe problem.

We have issues.

>> His shoes.

>> Yes.

Or my shoes.

Is that what we paid his college for, is for him to come up with those type of things?

Yes, we spend.

>> Yes.

I blame him, and he blames me.

>> I do not blame her.

>> Yes, he -- >> No, I don't.

When I was growing up, my mom used to balance her checkbook.

>> [ Laughs ] Checkbook?

>> Yeah, she used to keep her checkbook with her, and she'd go line by line and -- >> Do you know what a checkbook is?

>> Yeah.

When I was in elementary school, we had a unit where we balanced checkbooks.

[ Laughter ] >> I think we have too many credit cards, too many options to put things on credit cards, which, you know, when one fills up, use the next.

>> So our credit card debt is a little over $100,000, which is a lot of money.

I didn't realize that we had that much in credit card debt.

>> I'm nervous and excited.

Nervous because it's unknown, but excited because I'm gonna find out where my money's going and how I can make it work to plan a future, to get out of debt, to have money left over, to be secure, to be, you know, happy about our choices.

The nervous part comes into play when I think about our mistakes being exposed.

>> When you think about sports, they have a coach.

Most of your professional athletes have a coach, but most people don't get financial coaches or even think about having a coach in that aspect.

And you and I aren't getting any younger.

And so we got to make sure -- >> That's -- I'm getting younger.

[ Laughter ] Speak for yourself.

You think you should know as an adult, but if you've never been taught, as I know as a teacher, you don't learn it.

So having a coach is the best situation you can be in because they've been there and they've seen lots of situations similar to yours and they have some answers that we don't have.

Well, luckily we have this opportunity to look at our finances and see where everything is going.

>> You have more things to do today?

>> Yeah, girl.

I got a few.

I am Erika Coleman.

I am from New Orleans, Louisiana, a.k.a.

NOLA, okay?

[ Chuckles ] So, what you gonna get?

I know you like glam.

>> Do your magic.

You know I like... >> I do makeup for people because I started playing with makeup, fell in love with it.

And then when I got sick in 2019 -- I had cancer, and I started, like, really getting glam with it.

Everybody always want what I have.

>> Right.

It's your fault.

>> That's why we come to you.

Look at you.

You're a walking billboard.

>> So now I need to have my -- I need to have my makeup like yours.

>> I would go to my chemo treatments, and the ladies would be like, "Oh, you look so pretty.

Have you even lost your hair or anything?"

I'm like, "Yeah."

And once I started doing, like, their makeup, they felt good about theirself.

So it just made me fall more and more in love with it.

So I just started getting more creative with it and just -- I can't live without it.

It's a part of who I am.

So, did I tell y'all about this new adventure that I'm about to start?

>> No.

>> What's going on?

>> When I was going through cancer, it was like one of the hardest times of my life because not only was I going through cancer -- my father was going through cancer at the same time.

As you all know, I've had, like, issues with, like, finance since my dad died, you know, when I started taking out loans when I first started trying to have a service for him when he passed away.

I never actually took in that I even had cancer 'cause I didn't even have time to think about myself.

I was more, like, worried about, like, my dad, making sure that he was good.

Taking out loans, kept getting back and forth into debt.

Then COVID hit.

So, you know, it kind of put me behind with stuff.

So I saw an opportunity, and I wanted to sign up for it to see if I could get help 'cause I need help.

>> Okay.

>> I'm, like, tired of, like, struggling, trying to figure out, like, how I'm gonna do this and that, trying to make ends meet.

'Cause of course y'all know I pretty much take care of my mom.

So, now that my dad passed away, it's like now I'm in a position now that I have to take care of my mother.

So I'm gonna be meeting up with a financial coach named Miss Patrice.

>> Awesome.

>> And she's gonna help me, like, pretty much get my life in order.

Like, my mom -- she can't really work, so that kind of like fell on me.

And, I mean, it's my mom.

I don't mind 'cause she's taken care of me pretty much, like, my whole life, so that just mean I got to hustle harder.

Just last week, my car got taken away, so hopefully Miss Patrice can help me, you know, get my finances together so I can get another car, get my car.

I feel like life has gut-punched me so many times.

Then I actually get an opportunity to put me on the right path, like, it's, like, so exciting 'cause it's like, "Damn, like, life is finally giving me something back."

>> I'm so sorry about the car situation.

>> Yeah, life happens.

In my life, I feel like if I do the work, my life can change.

It's like, I feel like at this point, it's really up to me to set the standards for how I want my life to be.

I'm excited to meet Miss Patrice.

'Cause she, like, seemed like -- I looked her up and stuff.

She seemed like a very powerful woman, so...

I can't wait to see what it's like to have my all my finances in place and not be in no type of debt.

>> Get a breather.

>> Yeah, definitely a big breather, huh?

Yeah.

She's very pretty, too.

I want to do her makeup.

[ Laughs ] >> Whoa-oa-oa Whoa-oa-oa >> Do you want barbecue sauce on your burger?

>> Sure.

>> Okay.

I'll bring it instead.

>> What color do you want?

>> Um...cute.

>> I'm Maegan.

>> And I'm Wes.

>> And we're the Scherers, and we have three beautiful kids.

Jaymes, food is here if you want to come down.

We always say that Jaymes is our sunshine because he's our first.

Avery is our rainbow.

And then Rowyn is our pot of gold at the end of the rainbow.

Do you want to go take him his burger?

>> Mm-hmm.

>> Okay.

>> As a child, I didn't grow up with money.

We worried about food.

We worried about the lights.

>> Ooh, look at that.

That's a monster burger.

>> Monster burger?

>> Monster burger!

I am a Head Start teacher assistant for 3 to 5 year olds.

>> I am a deli clerk at Kroger's.

So I can package things in the bakery, I can slice meat and cheese in the deli, and I also cook chicken in the bistro.

So, you know, I work the ovens and the fryers.

I feel like it's work, work, work.

Wake up, work.

Just work, and it's never enough, never enough money.

>> It's not.

Our current biggest financial hurdle is budgeting.

We have been struggling quite a bit with our bills.

We've had our electric get shut off recently.

And we're behind on rent.

>> Are you nervous?

>> Oh, yeah.

I am, very nervous.

I'm hoping that maybe Jean can help us figure out how we can pay rent, not have to worry about the electric bill.

We have looked up our financial coach, Jean Chatzky.

She seems like she is going to be able to help us a lot.

>> I think she seemed very friendly and like she knows exactly what she's talking about and that she'll be able to help us with all of our financial burdens.

I know that a lot of the times I'm all over the place.

>> Here.

That's okay.

>> When our kids were born, I promised myself that they wouldn't have the same lifestyle that I had growing up, but history somehow seems to be repeating itself.

Hopefully I can get a lot of knowledge out of this and a lot of stability.

I feel like Jean is the only chance to turn our lives around.

>> If we don't change, we're going to end up losing our house and being on the streets possibly, which I don't -- I don't want that for my kids.

I'm hoping that Jean can help us manage our finances better so that we can give these kids a better life and not have to stress as much.

>> You got her water?

>> Yeah, I got her water.

[ Birds chirping ] I can't close this.

Chicken nuggets.

Yes, I'm making you some chicken nuggets.

You want some fruit with it?

Yeah?

We do have STEAM night tomorrow.

Are you gonna be home in time?

>> I should be.

I don't see why I wouldn't.

It starts at what, 5:30?

>> Yeah, it starts at 5:30.

>> Yeah, I can get off around 5:00.

I'm Wesley.

>> And I'm Bobbye.

>> And we live in Baton Rouge, Louisiana.

>> We have bowling this weekend?

>> Oh, bowling.

>> Yeah.

>> Can't forget that.

I won't make it to that, though.

I do have to work that morning.

>> Okay.

Here you go, Charlotte.

I am a stay-at-home mom.

We have three kids.

Logan is 7, Jaxon is 4, and Charlotte is 2.

>> More, Mom!

>> You want more?

You want more what?

Oranges?

Yeah, I can give you some oranges.

>> I'm in retail management.

I have been in retail for a little over 10 years, give or take, and it's really all I've ever done.

>> You want all of them?

>> In the next few months, I have to go help out, you know, with inventories at other stores because it's a pretty stressful time and pretty crazy.

>> I feel like that's how it is a lot.

When someone can't come in, then you're the one that's having to go in.

>> Yeah, and, you know, with me covering shifts, it still doesn't change my pay.

I still make the same amount.

Being in retail management, I am salary.

I'm not paid overtime.

I'm not paid holiday time.

So, if I work 100 hours, I make the same amount.

It doesn't change.

How are bills looking this month?

>> We paid everything besides two.

>> We got to pay the mortgage.

>> Yeah, we haven't paid that.

>> We haven't done that in a while, so we need to get that, really, so we don't live in a car.

Having one income is very challenging because we don't know if we're going to be able to afford the next bill.

>> It's either pay the mortgage and not pay the electric and the water, and so live in a house with no power and no water, or, like, just continue to pay the other bills and figure it out.

>> You're being silly, Charlotte.

>> Yeah.

>> [ Chuckling ] Yeah.

>> Hot.

>> Those are hot?

Blow it off.

Can you blow it?

Have you looked at your tire?

Like, is it worth getting it fixed?

>> Oh, no, it doesn't seem so because it seems like the cut is like in the -- >> The wall of the tire?

>> Yeah, the wall of the tire.

So I don't expect it to be able to be fixed.

I mean, we can try duct tape, but that only goes so far.

>> I don't think duct tape is going to work.

I think it's kind of hard with three kids knowing how to manage the money and, you know, how to, you know, be prepared for when the things that aren't expected come up and not just the constant overdrafting of the account.

We have that meeting with Patrice coming up.

How do you feel about that?

>> Pretty nervous.

From what I've seen and read, she seems pretty tough.

But, I mean, I do need that.

I'm really looking to change the way we we operate.

>> I'm a bit nervous that Patrice is going to come in and look at everything because I feel like I'm about to just get judged on everything that we've done wrong and how bad we are with our money.

I think us getting our finances in order would really help because Logan's getting to the age where it's like, "Mom and Dad don't have money."

>> Yeah.

>> "We can't do this because we don't have money," or... Yeah.

>> And I want it to be where they're not having to ask Mimi and Pops for everything.

>> Yeah.

>> 'Cause they do a lot for us.

>> Mimi and Pops.

>> Mimi and Pops.

>> I'm excited.

Also very, like, you know, terrifying, like, not knowing if she's going to say, "You're beyond help," or, "You are so far gone that you're basically going to have to just start completely over with everything."

>> Come on, Charlotte.

Ohh!

Is your face clean?

Yeah?

Alright, you ready to go play?

Alright, I'm gonna pick up your lunch, and you go play, okay?

>> I'm about to head out.

Let me get my lunch, and then I'll let you know when I get to get to work and when I leave.

>> Alright.

Have a good night.

>> You have a good one.

Love you, Char-Char.

>> [ Speaking indistinctly ] >> I wish I could!

>> Say, "Bye-bye, Daddy."

>> Bye, y'all!

>> Come here, Charlotte.

You can't go with Daddy to work.

I know.

Say, "Bye-bye."

>> Apartment life sucks.

>> Absolutely it does.

>> [ Laughs ] >> I mean, to be in a house again would just absolutely be lovely.

I'm Omar.

>> I'm Lynette.

>> Both: We're the Winters, and we live in Seattle, Washington.

>> There was never any meat.

>> There wasn't?

>> No.

No.

>> I have three teenage girls living here, and, oh, it's rough being outnumbered.

[ Both laugh ] So, we got spaghetti with no meat.

Are you serious?

[ Laughter ] >> Oh!

>> We have a 17-year-old, Jailyn, we have a 15-year-old, Jazette, and a 13-year-old, Hannah.

>> Pull the shrimp out.

Yeah, this is gone.

[ Chuckles ] Put it in a bowl.

>> It looks frost-burned.

>> Really?

>> Yes!

That's been in there for a minute, as well.

>> We live in an apartment right now, a three-bedroom apartment, but our ultimate goal is to own a home.

[ Laughter ] >> I told you.

>> Oh, no.

Toss them.

>> Ohh.

>> We struggle with how many groceries we can buy this month or "Do we have to cancel the insurance premium?"

or -- >> Which bill is getting paid or which -- Well, we try to pay them all when they're due, but we tend to go for the one that costs the most.

>> Oh, Mom, we can make Alfredo.

We have heavy whipping cream and we have Parmesan.

>> And there you have dinner.

>> [ Laughs ] >> Almost a weekly basis, we hear from somebody calling saying something is due or something is past due.

When the financial advisor comes, I mean -- [ Sighs ] I can say, a little nervous about it because I never had nobody, you know, nosedive in business like that before.

So that's gonna be different and new.

But living check to check sucks.

>> Ah, yeah, I feel you on that.

>> Yeah, if he can come through and show us where we're -- where we're spending wrong, that'd be helpful.

I'm a little bit nervous to be working with a financial coach.

I've never sat with anybody and talked about finances and all of that except for Lynette.

So to have a whole person come in that you never met, it's a little nerve-wracking because it's almost like a breach of privacy, I guess I can say, that got some stranger judging how you operate in your house.

>> We talk about money all the time -- when we don't have it, when we have it, how we can spend it, how we save our money, how we spend our money.

Money stresses me out to the point of migraines.

I'm scared because I think I've just been winging it, and having someone that has expertise to streamline this process we call our life?

Yeah.

I think that sets us up for success definitely.

>> The main part of why I am happy and blessed that we got chose for this -- so we're not living check to check no more.

We thought we had it under control, but, like I said, living check to check is just -- it's such a strain now.

So, yeah, if somebody can come through and help stop that process, then, yeah, I'm all for it.

I'm absolutely nervous to be called out on the -- on just -- yeah, on reckless spending.

There's been some times where we didn't have to go out and eat.

And -- I don't know -- I guess we was feeling ourself that day, it was payday, so I came home from work that night and I was just like, "Everybody get dressed, we're going out."

So, to have Louis look at that printout and like -- "Hey, look at how many times you actually went out," like -- Ugh.

Yeah, it's gonna hurt.

>> I'm so excited that somebody's coming to rescue us and give us the knowledge to get this thing on track.

And finally get a house?

Like, legit?

>> To find your own opportunities, please visit opportunityknocks.net.

Next time on ""Opportunity Knock$"... >> Hi!

I'm Jean.

>> It is scary to have someone come into the home and look at all of our finances.

We are like two months behind on rent.

>> If you're making the minimum payment on this, you'll never pay it off.

>> He's not as judgy as I thought he would be.

>> I think I live like five minutes away from here, and I had eviction notices every month.

And it's nothing glamorous about living with that type of stress.

>> Major funding for "Opportunity Knock$" is provided by the National Council for Financial Opportunities, a nonprofit dedicated to reducing poverty and creating economic mobility by breaking down systematic barriers, increasing equitable access to capital, and making opportunity accessible to all.

Its programmatic areas of focus include financial resiliency, financial accessibility, and income adequacy.

Additional funding provided by the Wells Fargo Foundation, which seeks to strengthen historically marginalized communities by investing in pathways to economic advancement and generational wealth.

Additional funding for "Opportunity Knock$" provided by Balance... and Callahan & Associates.