3. Sherrell, the psychologist, says that very few people follow financial advice. Why do you think that people don't follow financial advice? We are a nation in debt, so Marketplace examined the finances of three Canadian families. Here are their stories.

Wayne and Theresa Wayne and Theresa earn about $85 000 a year between them, but they are struggling with a total debt of

$343 000 (mortgages, taxes, and loans). Wayne finishes furniture and Theresa works 25 hours a week from home. When Wayne has lots of work, they get by, but when he doesn't, there are problems because they simply buy too many things. Theresa feels very insecure about their financial situation. When unexpected expenses come up, stress levels Increase. For example, when Wayne's van broke down, he borrowed money from Household F11ance at a high interest rate .

A financial adviser (John) talks to Wayne and Theresa about their debt problems. He observes that their mortgage is not getting smaller as time passes. He says they simply must make higher payments on their mortgage to reduce the amount they owe. He also notes that some of their credit cards carry a 30 percent interest rate. He says they should cut up their credit cards because they have become addicted to credit card debt. John says that Wayne is too easygoing about their debt level, and fears that he won't follow through on plans to reduce the family's debts.