Kara McGuire: Our lesson from the Fix-Ups? Let’s start a money club

Last summer, I was looking for people who would be willing to participate in financial makeovers, one of my favorite stories to write.

At the time, I wasn't planning a yearlong series about debt. Thing is, everyone who responded -- no matter their ages or backgrounds -- had debt they could not tackle on their own. So the Financial Fix-Ups were born.

As you'll see in today's stories -- almost a year since the Bensons, Holly Lesmeister and Malinda Erickson first met with their advisers -- getting out of debt is a slow and sometimes painful process, full of tough choices. The stories have hit a nerve with readers, both in debt and far from it.

I have received dozens of phone calls and e-mails responding to Fix-Ups, both compassionate and cruel. "When I think that I'm having a tough time financially, all I'll have to do is recall your eye-opening and somewhat horrifying piece on family finances," wrote one reader, who went on to marvel at the large size of the Benson family and Lesmeister's thoughtless spending. Others sent their own lengthy financial prescriptions for the participants.

Then there were those who asked me to relay their sympathies to the struggling participants. Some went so far as to ask how they could assist. A mechanic inquired about the Bensons' needed van repairs; freelance leads for Lesmeister's graphic design talents poured in.

Then there were the pleas for help. I've seen the statistics about credit card debt and have reported on the rising numbers of foreclosures ripping apart middle class families. But the volume of calls and e-mails from readers desperate for debt relief surprised me. I finally wrote down the phone numbers for credit counseling agencies and posted the list on my desk. I've given them out more times than I wish to remember and I'm sure there will be more calls after today.

I think part of that stems from the fact that money is still a very hush-hush topic for our society. Plenty of families and couples never even discuss it.

Curious, I asked the Fix-Up families about how opening their finances for all eyes to see has affected their lives. While the comments about family size were hurtful to Tracy Benson, she was comforted by how many people sought her out to share their debt sagas. "I've learned how universal the financial issues are for our age group," says the 43-year-old.

Believe it or not, Lesmeister says she's been recognized from time to time as the girl in debt from the newspaper and has been teased by friends for her newfound frugality. But she doesn't care, calling this year a turning point. She says that even her roommate is "realizing money is not something that grows on trees."

Erickson says that without St. Paul financial educator Ruth Hayden and this newspaper, she's unsure if she'd have ever gotten started with rebuilding her emotions around money and her credit. "You almost need to have that accountability partner there -- whether you start on an exercise regimen or a financial regimen. It's very hard to do that alone."

The stigma surrounding money talk is still much greater than talking about weight problems, addictions, even sex. But support is out there, whether from formal groups, self-help books, financial advisers, family or friends.

More and more money clubs -- essentially, book clubs for finances -- are cropping up all over the country. Let's start our own and call it the Fix-Ups Club to remember the families who inspired us to address our money questions.

Want in? Send an e-mail to fixup@startribune.com with your name and reason for wanting to join. Details are still being worked out, but expect lots of free advice and support.

As the series comes to a close, here's a thought: Let's all be a bit more open about our money. Let's support each other with our financial traumas and triumphs the way we would with the ones involving children, careers and love. For those of you with problems to face, pat yourself on the back for addressing them. For those of you who are approached with financial concerns, ditch the judgment and dish out compassion and common sense advice instead. We're all in this together.

Kara McGuire • 612-673-7293